The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
For use at Noon, E.D.T.
Thursday
September 12, 1996
FEDERAL RESERVE statistical release
z.i
Flow of Funds Accounts
of the United States
Flows and Outstandings
Second Quarter 1996
Board of Governors of the Federal Reserve System. Washington D.C. 20551
Flow of Funds Summary Statistics
Second Quarter 1996
local governments turned up in the second quarter for
the first time in two and a half years, as issuance of
tax-exempt securities exceeded retirements.
The level of domestic nonfinancial debt out
standing was $14.3 trillion at the end of the second
quarter of 1996. Debt of the nonfederal sectors was
$10.6 trillion, and federal debt was $3.7 trillion.
Statistics showing the growth and level of debt
are found on tables D.l through D.3. Financial flows
and amounts outstanding by sectors and instruments
are found on pages 9 through 101 of this release.
Oebt of domestic nonfinancial sectors grew at a
seasonally adjusted annual rate of 5 percent in the
second quarter of 1996, down from the 6-1/4 percent
rate in the first quarter. Federal debt advanced at
only a 1-3/4 percent pace, in part reflecting strong
tax receipts. Growth of debt of nonfederal sectors
was unchanged at a 6 percent rate. Household debt
growth slowed to a 7-1/2 percent rate; borrowing in
both home mortgage and consumer credit markets
was less than in the first quarter. Growth of business
debt declined to a 4-3/4 percent pace. Issuance of
corporate bonds strengthened, but businesses reduced
their borrowing from other sources, including banks
and the commercial paper market. Debt of state and
Growth of Domestic Nonfinancial Debt1
Percent changes; quarterly data are seasonally adjusted annual rates
Nonfederal
Total
Federal
Total
Households
Business
State and
local govts.
1989
1990
1991
1992
1993
1994
1995
7.6
6.6
4.4
4.8
5.3
4.9
5.5
7.0
11.0
11.1
10.9
8.3
4.7
4.1
7.8
5.3
2.4
2.8
4.2
5.0
6.0
8.7
7.9
5.0
5.2
6.3
8.6
8.2
7.5
3.1
-1.7
0.5
1.5
3.7
6.2
5.7
4.9
8.2
2.0
5.7
-3.7
-4.1
1995:Q1
:Q2
:Q3
:Q4
6.4
6.5
4.3
4.3
7.1
5.2
2.4
1.6
6.2
7.0
5.0
5.3
7.9
8.5
8.6
6.9
7.3
7.3
4.6
5.1
-4.9
-0.8
-9.4
-1.5
1996:Q1
:Q2
6.3
4.9
6.6
1.7
6.1
6.0
8.7
7.6
5.0
4.7
-1.2
3.5
1. Changes shown are on an end-of-period basis and may differ from month-average data in the H.6 release.
Table of Contents
Table
Title
Page
Flow of Fund Accounts, Second Quarter 1996
1
Availability of Data for Latest Quarter
3
Debt Growth by Sector
D.l
6
Borrowing by Sector
D.2
7
Debt Outstanding by Sector
D.3
8
Levels
Flows
Title
Table
Page
Table
Page
Summaries
Total Net Borrowing and Lending in Credit Markets
F.l
9
L.1
57
Credit Market Borrowing by Nonfinancial Sectors
F.2
10
L.2
58
Credit Market Borrowing by Financial Sectors
F.3
10
L.3
58
Credit Market Borrowing, All Sectors, by Instrument
F.4
11
L.4
59
Total Liabilities and Their Relation to Total Financial Assets
F.5
11
L.5
59
Distribution of Gross Domestic Product
F.6
12
Distribution of National Income
F.7
13
Gross Saving and Investment
F.8
14
Derivation of Measures of Personal Saving
F.9
15
L.9
60
Flows
Table
Page
Title
Levels
Page
Table
Sectors
Households and Nonprofit Organizations
F.100
16
L.100
61
Nonfinancial Business
F.101
17
L.101
62
Nonfarm Nonfinancial Corporate Business
F.102
18
L.102
63
Nonfarm Noncorporate Business
F.103
19
L.103
64
Farm Business
F.104
19
L.104
64
State and Local Governments
F.105
20
L.105
65
Federal Government
F.106
21
L.106
65
Rest of the World
F.107
22
L.107
66
Monetary Authority
F.108
23
L.108
67
Commercial Banking
F.109
24
L.109
68
U.S.-Chartered Commercial Banks
F.110
25
L.110
69
Foreign Banking Offices in U.S.
F.lll
26
L.111
70
Bank Holding Companies
F.112
27
L.112
71
Banks in U.S.-Affiliated Areas
F.113
27
L.113
71
Savings Institutions
F.114
28
L.114
72
Credit Unions
F.115
29
L.115
73
Bank Personal Trusts and Estates
F.116
29
L.116
73
Life Insurance Companies
F.117
30
L.117
74
Other Insurance Companies
F.118
30
L.118
74
Private Pension Funds
F.119
31
L.119
75
State and Local Government Employee Retirement Funds
F.120
31
L.120
75
Money Market Mutual Funds
F.121
32
L.121
76
Mutual Funds
F.122
32
L.122
76
Closed-End Funds
F.123
32
L.123
76
Levels
Title
Flows
Page
Table
Table
Page
Government-Sponsored Enterprises
F.124
33
L.124
77
Federally Related Mortgage Pools
F.125
33
L.125
77
Issuers of Asset Backed Securities
F.126
33
L.126
77
Finance Companies
F.127
34
L.127
78
Mortgage Companies
F.128
34
L.128
78
Real Estate Investment Trusts
F.129
34
L.129
78
Security Brokers and Dealers
F.130
35
L.130
79
Funding Corporations
F.131
35
L.131
79
Gold and Official Foreign Exchange Holdings
F.200
36
L.200
80
SDR Certificates and Treasury Currency
F.201
36
L.201
80
U.S. Deposits in Foreign Countries
F.202
36
L.202
80
Net Interbank Transactions
F.203
37
L.203
81
Checkable Deposits and Currency
F.204
38
L.204
82
Time and Savings Deposits
F.205
39
L.205
83
Money Market Mutual Fund Shares
F.206
39
L.206
83
Federal Funds and Security Repurchase Agreements
F.207
40
L.207
84
Open Market Paper
F.208
40
L.208
84
Treasury Securities
F.209
41
L.209
85
Agency Securities
F.210
42
L.210
86
Municipal Securities and Loans
F.211
43
L.211
87
Corporate and Foreign Bonds
F.212
43
L.212
87
Corporate Equities
F.213
44
L.213
88
Instruments
Levels
Flows
Title
Table
Page
Table
Page
Mutual Fund Shares
F.214
44
L.214
88
Bank Loans Not Elsewhere Classified
F.215
45
L.215
89
Other Loans and Advances
F.216
46
L.216
90
Total Mortgages
F.217
47
L.217
91
Home Mortgages
F.218
48
L.218
92
Multifamily Residential Mortgages
F.219
48
L.219
92
F.220
49
L.220
93
F.221
49
L.221
93
Consumer Credit
F.222
50
L.222
94
Trade Credit
F.223
50
L.223
94
Security Credit
F.224
50
L.224
94
life Insurance and Pension Fund Reserves
F.225
51
L.225
95
Taxes Payable by Businesses
F.226
51
L.226
95
Investment in Bank Personal Trusts
F.227
51
L.227
95
Proprietors' Equity in Noncorporate Business
F.228
51
Total Miscellaneous Financial Claims
F.229
52
L.229
96
Identified Miscellaneous Financial Claims - Part I
F.230
53
L.230
97
Identified Miscellaneous Financial Claims - Part n
F.231
54
L.231
98
Unidentified Miscellaneous Financial Claims
F.232
55
L.232
99
Sector Discrepancies
F.10
56
Instrument Discrepancies
F.ll
56
. Commercial Mortgages
Farm Mortgages
Supplementary Tables
Nonprofit Organizations
F.IOO.a
100
L.100.a
101
1
Flow of Funds Accounts, Second Quarter 1996
This publication presents the flow of funds
accounts for 1996:Q2. The Z.7 release ("Flow of
Funds Summary Statistics") has been discontinued,
and this release now incorporates information that was
in the Z.7.
Data revisions and other changes. Revisions to the
flow of funds accounts have been made to data as far
back as 1986. Significant changes include:
1. New seasonal factors for quarterly finan
cial flows have been calculated for the period
1986:Q1 forward. The factors were generated using
the Statistics Canada X-ll ARIMA/88 seasonal adjust
ment program.
2. The data from the annual revision of the
balance of payments accounts, published in the July
1996 Survey of Current Business, and from the
balance of payments accounts for 1996:Q2, released
September 10, 1996, were incorporated into the flow
of funds accounts.
Explanatory notes for tables D.1, D.2, and DJ.
Domestic debt includes credit market funds borrowed
by U.S. entities from both domestic and foreign
sources, while foreign debt represents amounts bor
rowed by foreign financial and nonfinancial entities in
U.S. markets only. Financial sectors consist of
government-sponsored enterprises, federally related
mortgage pools, and private financial institutions.
Credit market debt consists of debt securities, mort
gages, bank loans, commercial paper, consumer credit,
U.S. government loans, and other loans and advances;
it excludes trade debt, loans for the purpose of carry
ing securities, and funds raised from equity sources.
Growth rates in table D.l 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 for
ward 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.l.
Relation of Flows to Outstanding. 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 ac
counts are related to the flows in the following way:
Outstanding Outstanding ,.]+ Flow ,+ Discontinuity ,
where t is the time period.
Discontinuities result from changes in valua
tion, breaks in source data, and changes in definitions.
For most series, the value of the discontinuity is zero
for nearly all time periods. However, in a few in
stances, the discontinuity is nonzero for almost all
time periods, or is quite large in a particular quarter,
such as a period when there is a sharp increase or
decrease in equity prices or a major break in source
data.
The discontinuities in the series can distort
estimated rates of growth in assets and liabilities
between periods. In order to minimize these distor
tions, percentage changes in assets and liabilities in
flow of funds releases should be calculated in the
following manner:
Percentage change
(Flow , I Outstanding
* 100
Preliminary Estimates. Figures shown for the most
recent quarter in these tables are based on preliminary
and incomplete information. A summary list of the
principal sources of information available when the
latest quarter's data were compiled is provided in a
table following this introduction. The distinction
between "available" data and "missing" data is not
between final and preliminary versions of data, but
rather between those source estimates that are fully
ready when the latest quarterly estimate 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
2
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 uncertain
ties 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 finan
cial instrument less measured funds lent through that
type of instrument. The size of such discrepancies
relative to the main asset or liability components is
one indication of the quality of source data, especially
on an annual basis. For quarterly data, differences in
seasonal adjustment procedures for financial and
nonfinancial components of the accounts sometimes
result in discrepancies that cancel in annual data.
Availability of Data. Flow of funds statistics are
usually available about nine weeks following the end
of a quarter. This publication-the Z.1 release-is
available from the Board's Publications Services. It is
now also available electronically through the Internet
at the following location:
http://www.bog.frbded.us/releases/
and through the Economic Bulletin Board of the
Department of Commerce.
Data from the flow of funds accounts are
also available on 3-1/2 inch diskettes. The diskettes
contain quarterly data beginning in 1952, organized in
files that correspond to the tables published in this
release. One diskette contains the seasonally adjusted
flows, a second diskette contains unadjusted flows,
and a third diskette contains monthly data from
January 1955 forward for the monthly debt aggregate
published in the Board's H.6 release, "Money Stock,
Liquid Assets, and Debt Measures." The historical
information on the diskettes is also available on the
Internet at the address noted above.
Owing to a delay in receiving source material
compiled at the Department of Commerce, the
"Balance Sheets for the U.S. Economy" (C.9 release)
is not available at this time, and NIPA data for the
period before 1959 are those published by the Depart
ment of Commerce before the latest annual revision.
Subscription Information. The Federal Reserve
Board charges for subscriptions to all statistical
releases. The annual price of the Z.l release is
$25.00. Diskettes are available at $25.00 per diskette.
Inquiries for releases or the diskettes should be
directed to:
Publications Services, Stop 127
Board of Governors
of the Federal Reserve System
20th and Constitution Avenue, N.W.
Washington, DC 20551
(202) 452-3244
A Guide to the Flow of Funds Accounts is available.
The 670-page Guide explains in detail how the U.S.
financial accounts are prepared and the principles
underlying the accounts. The Guide may be pur
chased for $8.50 per copy from Publications Services.
3
Availability of Data for Latest Quarter
Available at time of publication
Major items missing
1. National income and
product accounts (NIPA)
Preliminary estimates, seasonally
adjusted, for 1996:Q2.
Unadjusted flows.
2. Household sector
(tables F.100 and L.100)
Estimates for this sector are largely residual and derived from data for
other sectors. Availability of data is dependent on schedules for other
sectors. Data for consumer credit, which are estimated directly rather
than through a residual calculation, are available through 1996:Q2.
3. Nonfinancial corporate
business
(tables F.102 and L.102)
Quarterly Financial Report (QFR)
of the Census Bureau through
1996:Q1; Internal Revenue Service
Statistics of Income data through
1993, securities offerings,
mortgages, bank loans, commercial
paper, and other loans through
1996:Q2.
Statistics of Income data since
1993. QFR data for 1996;Q2.
4. Nonfarm noncorporate
business
(tables F.103 and L.103
Internal Revenue Service Statistics
of Income data for 1992; bank and
finance company loans and
mortgage borrowing for 1996:Q2.
Statistics of Income data since
1992.
5. Farm business
(tables F.104 and L.104)
Mortgages, bank loans, trade debt,
loans from government-sponsored
enterprises, and equity in
government-sponsored enterprises
through 1996:Q2.
Data for U.S. government loans
to farms since 1994;Q4; data for
consumption of fixed capital and
insurance receivables since 1994;
data for undistributed profits and
checkable deposits and currency
since 1993.
6. State and local
governments
(tables F.105 and L.105)
Gross security offerings and
retirements, deposits at banks, and
nonmarketable U.S. government
securities issues for 1996:Q2;
Census of Government Finances
data asset items and debt
outstanding through 1992:Q2.
Other asset items since 1992:Q2.
7. Federal government
(tables F.106 and L.106)
Data on federal receipts and outlays
from the Monthly Treasury
Statement of Receipts and Outlays
through 1996:Q2; data from the
Federal Financing Bank statement
through 1996:Q2.
Data for loans outstanding since
1994 except at the Federal
Financing Bank.
4
NIPA estimates, data from bank
reports of condition, and Treasury
International Capital System data
through 1996:Q2. Balance of
Payments data through 1996:Q2,
with revisions from 1986:Q1
forward.
None.
9. Monetary authority
(tables F.108 and L.108)
All data through 1996:Q2.
None.
10. Commercial banking
(tables F.109 and L.109)
All data through 1996.-Q2 for
domestically chartered banks,
foreign-related banks, and bank
holding companies.
Data since 1995:Q4 for branches
of domestic member banks
located in U.S.-affiliated areas.
11. Savings institutions
(tables F.114 and L.114)
All data through 1996.-Q2 for
savings institutions that report to
the FDIC.
Data for savings institutuions that
report to the OTS for 1996:Q2.
12. Credit unions
(tables F.115 and L.115)
All data through 1996:Q2.
None.
13. Bank personal trusts and
estates
(tables F.116 and L.116)
All data through 1995.
Data since 1995.
14. Life insurance companies
(tables F.117 and L.117)
Asset data through 1996-.Q1 and
liability data through 1995.
Asset data for 1996:Q2 and
liability data since 1995.
15. Other insurance companies
(tables F.118 and L.118)
All data through 1995.
Data since 1995.
16. Private pension funds
(including FERS)
(tables F. 119 and L.119)
All data through 1996:Q2.
None.
17. State and local government
employee retirement funds
(tables F.120 and L.120)
All data through 1996.-Q1.
Data for 1996:Q2.
18. Money market mutual
funds
(tables F.121 and L.121)
All data through 1996:Q2.
None.
19. Mutual funds
(tables F.122 and L.122)
All data through 1996:Q2.
None.
20. Closed-end funds
(tables F.123 and L.123)
All data through 1994.
Data since 1994.
21. Government-sponsored
enterprises
(tables F.124 and L.124)
Balance sheet data for FNMA,
Federal Home Loan Banks,
FHLMC, SLMA, FICO,
REFCORP, and FCA for 1996:Q2
None.
8. Rest of the worid
(U.S. international
transactions)
(tables F.107 and L.107)
I
5
22. Federally related mortgage
pools
(tables F.125 and L.125)
All data through 1996:Q2.
None.
23. Issuers of asset-backed
securities (ABSs)
(tables F.126 and L.126)
All data from Trepp/PSA
Information Services and data for
private mortgage pools, consumer
credit, and trade credit
securitization through 1996:Q2.
None.
24. Finance companies
(tables F.127 and L.127)
All data through 1996:Q2.
None.
25. Mortgage companies
(tables F.128 and L.128)
Mortgage data through 1996:Q1.
Data for 1996:Q2.
26. Real estate investment
trusts (REITs)
(tables F.129 and L.129)
Data through 1995:Q3; equity
issuance through 1996:Q2.
Data since 1995:Q3.
27. Security brokers and
dealers
(tables F.130 and L.130)
Data for firms filing FOCUS
reports through 1996:Q2; data for
firms filing FOGS reports through
1996:Q1.
Data from FOGS reports for
1996.-Q2.
28. Funding corporations
(tables F.131 and L.131)
Estimates for this sector are largely residual and derived from data for
other sectors.
6
Z.1, September 12, 1996
D.l Debt Growth by Sector1
In percent; quarterly figures are seasonally adjusted annual rates
Total
Federal
government
Total
nonfederal
1956
1957
1958
1959
1960
4.7
4.7
6.1
7.8
5.0
-2.6
-1.0
4.1
3.0
-0.9
10.0
8.3
1961
1962
1963
1964
1965
6.0
6.9
6.8
7.3
7.1
1966
1967
1968
1969
1970
Domestic nonfinancial sectors----------------------------------- Nonfederal
Households
Home
Consumer
Total
mortgage
credit
------- Business--------
Total
Corporate
State and
local
governments
Domestic
financial
sectors
Foreign
10.4
8.1
11.1
8.2
6.3
12.7
9.1
12.8
8.8
8.7
11.4
8.8
83
5.7
0.6
15.6
7.1
9.1
8.1
7.1
8.4
7.1
9.1
8.6
6.3
6.6
6.3
9.2
9.2
10.2
9.9
8.3
17.1
16.1
1.0
32.1
173
5.3
7.4
10.7
3.0
8.3
3.0
2.8
13
2.4
0.6
7.4
8.8
9.1
9.3
9.6
7.7
9.4
103
103
9.1
8.8
92
9.8
9.3
83
3.6
9.3
12.3
12.2
11.6
7.0
8.4
8.4
8.9
10.7
5.1
6.8
6.7
8.0
10.7
7.8
7.7
63
72
7.9
12
13.1
18.3
13.6
16.8
9.6
8.2
11.7
12.9
72
6.7
7.1
8.0
7.1
6.9
1.4
4.9
43
-1.1
42
83
7.8
92
9.7
7.6
6.6
5.8
7.8
7.3
42
5.9
5.7
63
62
4.1
6.1
5.0
9.9
8.3
33
11.2
10.3
11.0
11.9
10.4
11.7
10.4
11.7
11.9
10.3
6.7
6.7
73
9.6
8.7
17.7
1.0
14.1
32.8
143
5.1
9.8
6.3
6.9
5.7
1971
1972
1973
1974
1975
93
10.0
10.7
92
9.3
8.3
4.6
2.0
3.4
23.9
9.8
11.4
12.9
103
6.3
9.2
11.6
12.6
82
8.4
8.6
11.9
11.9
8.4
9.3
11.7
12.7
133
4.9
4.0
10.1
122
14.6
13.4
4.9
7.7
9.6
17.3
11.6
3.1
10.9
8.4
7.8
6.9
5.4
8.7
17.2
28.9
23.1
12
9.7
7.9
10.3
20.5
17.4
1976
1977
1978
1979
1980
10.9
12.9
13.8
12.0
9.6
15.6
11.0
9.7
13.3
14.9
133
92
11.9
16.4
16.9
14.3
8.6
13.7
18.1
18.0
15.9
10.7
11.0
15.9
16.9
12.3
1.4
8.2
11.9
13.0
13.9
102
7.4
11.9
11.6
112
82
8.4
8.4
15.4
9.0
6.9
9.0
18.8
22.1
22.0
14.4
213
11.6
18.6
93
14.0
1981
1982
1983
1984
1985
9.9
9.9
12.0
14.6
15.8
11.6
19.7
18.9
16.9
163
9.6
7.7
10.2
14.0
15.6
73
53
11.6
12.9
153
7.0
4.7
10.8
11.7
133
4.8
4.4
12.6
18.7
15.8
11.9
8.8
8.7
153
12.0
13.4
6.7
7.6
16.9
12.2
8.0
11.2
11.4
11.4
31.8
18.0
13.6
13.4
17.9
193
11.9
72
82
3.7
03
1986
1987
1988
1989
1990
12 J
8.8
7.6
6.6
13.6
8.0
8.0
7.0
11.0
11.8
9.6
9.1
7.8
5.3
113
12.1
9.3
8.7
7.9
13.8
16.3
10.9
10.1
10.1
9.6
5.0
72
6.0
2.0
122
6.7
9.7
73
3.1
15.3
8.4
113
83
4,7
10.8
12.1
63
5.7
4.9
26.1
18.3
13.1
103
8.8
4.1
2.6
3.0
4.0
9.1
1991
1992
1993
1994
1995
4.4
4.8
5.3
4.9
53
11.1
10.9
8.3
4.7
4.1
2.4
2.8
4.2
5.0
6.0
5.0
52
6.3
8.6
82
6.6
6.1
5.4
63
62
-1.7
0.6
7.7
14,6
14.3
-1.7
03
13
3.7
62
-22
1.4
1.9
5.0
7.9
82
2.0
5.7
-3.7
-4.1
6.0
8.7
9.6
14.1
11.8
5.2
7.9
22.3
-4.0
18.8
1992 - Q1
Q2
Q3
Q4
52
4.6
4.9
4.1
11.7
11.8
10.3
8.4
3.1
2.3
3.1
2.6
62
3.2
5.6
5.4
8.3
3.3
6.9
52
0.6
-1.6
13
2.1
0.3
0.4
02
12
1.0
1.4
0.9
2.3
1.8
5.4
33
-2.8
6.9
93
10.7
6.4
-0.4
20.4
10.3
1.6
1993 - Q1
Q2
Q3
Q4
3.8
63
5.0
5.4
7.4
10.4
5.8
8.7
23
5.1
4.8
4.3
3.8
6.3
7.4
7.3
32
6.1
6.1
5.8
4.6
5.0
8.3
11.9
-0.3
2.1
2.3
1.9
-03
2.7
3.1
22
7.3
10.6
33
0.9
5.3
6.3
14.0
113
16.0
20.0
35.4
11.8
1994 -- Q1
02
Q3
Q4
5.1
4.6
4.7
5.0
5.8
3.4
4.4
4.8
4.9
5.0
4.8
5.1
7.9
8.3
8.4
8.8
63
6.1
6.1
6.9
11.1
14.8
14.9
14.7
3.3
3.7
3.6
4.0
4.3
4.9
5.0
5.4
-0.7
-3.3
-52
-6.0
15.2
113
12.3
14.6
-25.1
-8.0
5.4
12.7
1995 - Q1
02
Q3
Q4
6.4
63
4.3
4.3
7.1
2.4
1.6
6.2
7.0
5.0
5.3
7.9
83
8.6
6.9
6.0
6.4
6.8
4.9
13.8
15.1
14.8
10.7
7.3
7.3
4,6
5.1
9.1
9.6
5.6
63
-4.9
-0.8
-9.4
-13
7.1
11.4
12.8
14.0
16.7
11.2
24.1
18.4
1996 - Q1
02
6.3
4.9
6.6
1.7
6.1
6.0
8.7
7.6
8.8
7.2
113
7.0
5.0
4.7
5.9
53
-1.2
33
73
15.9
10.0
7.8
92
92
5.8
11.8
52
12
1. Data shown are on an end-of-period basis and may differ from month-average statistics in the Board’s H.6 release.
Z.1, September 12,1996
7
D.2 Borrowing by Sector
Billions of dollars; quarterly figures are seasonally adjusted annual rates
Total
Federal
government
Total
nonfederal
Domestic nonfinancial sectors----------------------------------- Nonfederal
Households
Home
Consumer
mortgage
credit
Total
------- Business-------Total
Corporate
State and
local
governments
Domestic
financial
sectors
Foreign
1956
1957
1958
1959
1960
25.9
27.0
36.7
49.6
34.7
-5.9
-2.2
9.2
6.9
-2.0
31.8
29.3
27.5
42.7
36.8
14.9
12.3
10.2
21.9
17.7
103
8.1
8.8
12.6
10.8
3.6
2.6
0.3
7.7
4.0
12.7
12.4
11.7
14.8
13.6
9.6
9.9
7.8
8.6
8.7
4.2
4.7
5.6
6.0
53
2.6
2.9
0.2
6.7
4.9
0.9
1.3
2.0
0.6
1.8
1961
1962
1963
1964
1965
433
52.8
55.4
64.1
67.1
72
6.9
3.8
6.1
1.6
36.3
45.9
51.6
58.0
65.4
16.3
213
26.2
28.9
27.8
11.8
13.3
15.6
16.3
162
2.2
5.9
83
9.5
10.1
14.4
18.4
20.0
22.7
30.0
7.6
10.7
11.2
14.3
203
5.6
6.0
53
6.4
7.6
2.3
43
72
6.3
8.9
2.2
2.1
32
4.0
23
1966
1967
1968
1969
1970
67.2
76.1
923
88.7
91.4
3.6
12.9
12.5
-3.2
12.1
63.6
63.2
80.0
91.9
79.3
21.9
203
29.4
29.5
183
12.1
12.6
15.2
15.3
10.8
5.9
5.1
10.8
9.9
4.6
34.8
35.3
41.9
50.3
48.8
24.9
24.8
30.7
34.7
33.6
6.9
7.3
8.8
12.1
12.1
11.0
0.7
10.4
27.6
16.2
1.9
3.9
2.7
3.2
2.8
1971
1972
1973
1974
1975
135.3
155.6
184.1
174.9
1933
24.9
15.0
6.9
11.9
85.6
110.4
140.6
177.1
163.0
107.9
41.7
57.3
69.8
51.4
56.4
233
35.4
39.6
31.3
37.4
15.6
19.0
22.7
9.4
8.0
52.3
69.3
93.2
98.2
40.3
27.7
36.9
73.0
56.2
17.0
16.4
14.0
14.1
13.4
11.1
11.1
23.9
47.0
483
3.1
5.1
4.4
6.3
13.8
14.1
1976
1977
1978
1979
1980
245.7
322.4
390.0
386.8
347.0
69.2
56.3
523
35.8
77.4
1763
266.1
3373
351.0
269.6
86.7
1342
160.6
1592
108.9
60.0
90.5
1063
110.7
86.7
22.9
36.7
45.1
38.3
4.8
71.3
112.0
1373
1652
1383
41.4
71.1
78.0
83.8
68.4
183
19.9
39.4
26.6
22.2
233
53.6
74.7
91.1
73.0
203
133
24.0
15.0
24.2
1981
1982
1983
1984
1985
393.7
431.8
571.2
780.2
965.1
853
161.3
185.2
197.2
225.7
308.2
2703
386.0
583.0
739.4
103.9
83.2
182.1
223.0
300.8
63.6
46.0
108.1
128.1
164.4
16.9
16.4
48.9
81.7
82.3
176.7
145.6
156.5
3073
275.0
120.0
67.8
81.8
198.7
168.4
27.6
41.7
47.3
523
163.6
104.3
93.0
1043
157.7
205.0
233
16.0
17.3
8.4
1.2
1986
1987
1988
1989
1990
863.6
733.7
767.7
718.9
669.8
216.0
143.9
155.1
146.4
246.9
647.6
589.8
612.6
572.6
423.0
261.1
3063
259.1
268.1
264.1
193.9
261.0
1993
205.7
224.8
573
32.9
50.1
44.4
16.1
313.1
1922
299.0
253.4
1122
236.3
148.7
225.0
183.2
110.0
73.4
91.1
543
51.1
46.6
327.8
291.6
249.2
225.0
211.4
9.7
6.3
73
10.2
23.9
1991
1992
1993
1994
1995
481.7
543.0
6283
620.4
722.3
278.2
304.0
256.1
155.9
144.4
203.5
239.0
372.3
464.5
577.8
183.8
198.4
254.6
368.7
380.6
164.1
161.1
152.1
1943
195.9
-13.7
5.0
61.5
126.3
141.6
-61.9
193
553
139.3
242.9
-53.0
34.1
463
124.3
2083
81.6
21.1
62.3
-43.4
-45.7
155.6
240.0
291.1
467.9
4472
14.8
23.7
70.4
-15.3
693
1992 - Ql
Q2
Q3
Q4
592.8
5333
568.6
477.0
323.8
336.3
303.3
252.6
269.1
197.2
265.3
2243
236.6
123.4
221.1
212.4
221.0
89.6
188.1
145.8
4.7
-12.7
11.6
16.4
12.7
15.9
5.9
43.4
243
33.8
21.9
56.3
19.8
57.8
38.3
-31.4
190.7
269.1
309.7
1903
-12
59.3
31.7
5.0
1993 - Ql
Q2
Q3
Q4
450.9
779.1
614.5
669.4
228.1
327.8
185.8
282.8
222.8
451.3
428.7
386.6
154.1
254.3
303.4
306.6
89.3
174.4
174.7
1702
372
40.6
67.9
1002
-11.8
78.8
85.4
693
-11.8
66.4
75.9
55.3
803
118.3
39.9
103
161.3
193.0
437.7
372.4
50.3
653
121.8
442
1994 - Ql
Q2
Q3
Q4
644.4
580.6
603.9
652.7
192.9
113.6
150.1
166.8
4513
467.0
453.7
485.9
337.3
364.2
374.1
399.1
191.9
183.6
186.9
215.7
96.1
131.4
137.3
1403
122.8
1403
138.8
155.0
107.0
123.3
127.6
139.4
-8.6
-37.7
-59.2
-68.2
503.9
3973
435.8
534.2
-96.7
-28.9
19.0
453
1995 - Ql
Q2
Q3
Q4
846.0
869.3
5823
591.3
247.8
184.7
86.0
59.3
598.2
684.6
4963
532.1
366.1
4012
414.9
340.2
191.0
206.0
222.7
163.8
136.7
155.1
156.9
117.7
286.3
292.3
185.1
207.9
239.0
258.8
155.0
181.3
-54.2
-9.0
-1033
-16.0
267.7
439.9
507.1
574.0
61.8
43.1
953
77.4
1996 - Ql
Q2
869.8
689.4
239.9
62.4
630.0
627.0
435.9
391.0
296.3
247.5
129.7
81.1
206.6
199.1
166.4
157.3
-123
36.8
319.9
686.6
43.8
34.9
8
Z.1, September 12, 1996
D3 Debt Outstanding by Sector1
Billions of dollars; quarterly figures are seasonally adjusted
Domestic nonfinancial sectors
““
----------------------------- Nonfederal
Households
Home
Consumer
credit
Total
mortgage
Total
Federal
government
Total
nonfederal
1956
1957
1958
1959
1960
575.8
602.9
6395
689.4
724.1
224.1
221.9
231.1
238.0
236.0
351.7
381.0
408.4
451.4
488.2
149.0
161.6
172.0
194.0
211.7
92.8
101.3
1105
123.1
133.8
1961
1962
1963
1964
1965
767.6
820.4
875.8
939.6
1006.7
243.2
250.0
253.8
259.9
2615
524.4
570.3
621.9
679.7
745.2
228.0
2495
275.6
304.4
332.3
1966
1967
1968
1969
1970
1074.2
1150.1
1242.2
1331.4
1421.7
265.1
278.1
290.6
287.4
2995
809.0
872.1
951.6
1043.9
1122.2
1971
1972
1973
1974
1975
1556.8
1712.3
1896.8
2071.1
22635
324.4
339.4
346.3
358.2
443.9
1976
1977
1978
1979
1980
2508.1
2830.6
3214.8
3601.7
3957.8
1981
1982
1983
1984
1985
------- Business--------
State and
local
governments
Domestic
financial
sectors
Total
Corporate
46.6
49.2
495
57.2
61.2
152.4
164.4
175.7
190.7
204.3
114.0
123.6
131.0
139.8
148.6
50.4
55.0
60.7
66.7
72.2
17.9
20.8
21.0
27.7
325
17.4
18.8
20.8
21.4
23.2
145.6
159.0
174.6
190.8
207.0
63.4
69.3
77.9
87.4
975
218.7
237.1
257.1
279.6
309.7
156.1
166.8
178.0
192.1
212.7
77.8
83.8
89.2
95.6
103.2
34.9
39.4
46.6
53.0
61.9
255
275
30.8
35.0
375
3545
374.9
4045
434.5
t 453.4
2195
231.9
247.0
262.3
273.6
103.4
108.6
119.3
129.2
133.8
344.5
379.8
420.9
471.2
5185
2375
262.3
292.3
327.0
358.7
110.0
117.4
126.1
138.3
150.3
72.9
73.6
84.0
1115
127.8
395
43.3
46.1
492
52.1
1232.4
1372.9
15505
1712.9
1819.7
495.7
553.1
624.0
675.3
728.8
2965
331.8
370.7
401.7
439.2
149.4
168.4
192.9
202.3
2075
569.9
639.1
731.7
829.4
871.6
386.3
423.2
485.9
541.7
560.6
166.7
180.7
194.8
208.2
219.4
138.9
162.8
209.8
258.3
261.4
56.6
61.1
67.4
81.2
95.6
513.1
569.4
621.9
657.7
735.0
1995.0
22612
2592.9
2944.1
3222.8
817.0
951.1
1110.1
1270.1
1391.1
4995
590.0
696.4
808.6
904.9
230.4
267.2
312.3
350.6
355.4
940.2
1053.9
1187.2
1351.8
1487.3
599.2
672.1
745.9
829.0
894.4
237.8
256.2
295.6
322.2
344.4
284.9
338.8
4135
505.9
578.9
116.0
129.4
157.6
172.9
197.2
4350.0
4763.8
5337.9
6113.4
7096.6
8205
981.8
1167.0
1364.2
1589.9
35295
3782.0
4170.9
47492
5506.7
1499.7
1568.1
1730.3
1945.0
2266.6
973.3
1004.7
1092.8
1220.3
1409.9
372.3
388.7
437.6
519.3
601.6
1657.8
1800.1
19795
2290.6
2562.2
1008.2
1072.8
11775
1379.8
1544.8
372.1
413.8
461.1
513.6
677.9
682.4
778.1
882.8
1052.4
1258.3
220.7
210.4
227.7
2355
236.7
1986
1987
1988
1989
1990
7957.7
8674.9
9439.1
10175.1
10873.6
1805.9
1949.8
2104.9
2251.2
2498.1
6151.9
6725.1
7334.2
7923.8
8375.4
2526.1
2786.6
3068.0
33465
3639.8
1603.8
1822.7
2032.9
2236.9
2490.8
659.1
692.0
742.1
795.0
811.1
2874.4
3097.6
3370.8
3630.8
37425
1780.1
1959.8
2156.9
2347.0
2456.6
751.4
840.9
8955
9465
993.2
1593.6
18965
2145.8
2399.3
2613.9
238.3
245.1
2525
262.3
286.1
1991
1992
1993
1994
1995
11348.4
118945
12537.8
13164.4
13886.7
2776.4
3080.3
33365
3492.3
3636.7
8572.0
8814.2
9201.3
9672.1
10249.9
3823.0
4021.4
4278.4
4646.7
5027.3
2654.4
28155
2970.0
3164.6
3360.4
797.4
802.4
863.9
990.2
1131.9
3674.2
3696.8
3764.8
3910.6
41535
2401.9
2437.6
24965
2627.4
2836.0
1074.8
1095.9
1158.2
1114.8
1069.1
2769.4
3025.0
33215
3794.6
4244.4
300.8
315.2
385.6
370.4
439.9
1992 - Q1
Q2
Q3
Q4
11499.7
11633.1
11775.3
118945
2857.3
2941.4
3017.2
3080.3
8642.4
8691.7
8758.1
8814.2
3882.2
3913.1
3968.3
4021.4
2709.7
2732.1
2779.1
28155
798.6
795.4
798.3
802.4
36805
3684.5
3686.0
3696.8
2409.6
2418.0
24235
2437.6
1079.7
1094.2
1103.8
1095.9
2832.7
2900.0
2977.4
3025.0
291.3
306.1
314.0
315.2
1993 - Q1
Q2
Q3
Q4
12008.0
12202.7
12356.4
12537.8
3137.4
3219.3
3265.8
33365
8870.6
8983.4
9090.6
9201.3
4060.0
41235
4199.4
4278.4
2837.9
28815
2925.1
2970.0
811.7
821.9
838.9
863.9
3694.6
3714.3
3735.6
3764.8
2435.4
2452.0
2471.0
24965
1116.0
1145.6
1155.6
11582
3070.7
3118.9
3228.4
33215
327.8
344.1
374,6
385.6
1994 - Q1
Q2
Q3
Q4
127052
12850.3
13001.3
13164.4
3384.7
3413.1
3450.6
3492.3
93205
94372
9550.7
9672.1
4362.4
4453.4
4546.9
4646.7
3018.0
3063.9
3110.6
3164.6
888.0
920.8
955.1
990.2
3802.1
38372
3871.9
3910.6
2529.9
2560.7
2592.6
2627.4
1156.0
1146.6
1131.8
1114.8
3452.7
3552.1
3661.0
3794.6
3615
354.3
359.0
370.4
1995 - Q1
Q2
Q3
Q4
13375.9
13593.2
13738.9
13886.7
3554.3
3600.4
3621.9
3636.7
9821.7
9992.8
10116.9
10249.9
4738.2
48385
49422
5027.3
3212.3
3263.8
33195
3360.4
1024.4
10632
11025
1131.9
3982.2
4055.3
4101.6
41535
2687.2
2751.9
2790.6
2836.0
1101.2
1099.0
1073.1
1069.1
3864.1
3974.1
4100.9
4244.4
385.8
396.6
4205
439.9
1996 - Q1
Q2
14104.1
142765
3696.7
3712.3
10407.4
10564.2
5136.3
5234.0
34345
3496.4
1164.3
1184.6
4205.2
4255.0
2877.6
2916.9
1066.0
1075.2
4324.3
4496.0
450.8
4595
.. Data shown are on an end-of-period basis and may differ from month-average statistics in the Board* s H.6 release.
Foreign
9
Z.1, September 12,1996
F.l Total Net Borrowing and Lending in Credit Markets (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
Ql
1
2
Total net borrowing
Domestic nonfinancial sectors
3
Federal government
4
Nonfederal sectors
5
6
7
8
9
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
Farm business
State and local governments
--------- 1995 -------Q2
Q3
Q4
------ 1996-----Ql
Q2
905.1
652.1
806.7
990.0
1073.0
1238.9
1175.4
1352.3
1185.1
1242.7
12335
1411.0
1
669.8
481.7
543.0
6285
620.4
722.3
846.0
869.3
582.5
591.3
869.8
689.4
2
246.9
2782
304.0
256.1
155.9
144.4
247.8
184.7
86.0
59.3
239.9
62.4
3
423.0
2035
239.0
372.3
4645
577.8
598.2
684.6
4965
532.1
630.0
627.0
4
264.1
110.0
1.1
1.0
46.6
183.8
-53.0
-11.0
2.1
81.6
198.4
34.1
-16.0
1.3
21.1
254.6
465
7.0
2.0
62.3
368.7
124.3
12.1
2.8
-43.4
380.6
2085
32.8
1.6
-45.7 -
366.1
239.0
46.6
0.8
-54.2
401.2
258.8
305
3.0
-9.0
414.9
155.0
26.5
35
-1035
340.2
181.3
27.6
-1.0
-16.0
435.9
166.4
40.1
0.1
-125
391.0
157.3
34.8
7.0
36.8
5
6
7
8
9
10
Rest of the world
23.9
14.8
23.7
70.4
-15.3
695
61.8
43.1
955
77.4
43.8
349
10
11
Financial sectors
211.4
155.6
240.0
291.1
467.9
4472
267.7
439.9
507.1
574.0
319.9
686.6
11
12
13
14
15
Commercial hanking
U.S.-chartered commercial banks
Foreign banking offices in U.S.
Bank bolding companies
-26.8
1.7
-0.9
-27.7
-132
-1.1
-9.6
-25
10.0
115
-3.8
2.3
13.4
9.7
-5.1
8.8
20.1
125
-2.6
10.3
225
112
-3.1
14.4
21.7
3.8
1.6
16.3
39.0
20.0
-1.8
20.8
375
13.7
-4.4
28.2
-8.2
7.3
-7.7
-7.9
-325
-7.2
12
-26.6
40.1
175
-5.7
28.3
12
13
14
15
16
17
Savings institutions
Credit unions
-30.9
0.0
-44.7
0.0
-7.0
0.0
11.3
02
12.8
02
2.6
-0.1
-18.9
-0.3
-7.2
-0.1
5.1
0.1
315
0.0
10.9
-0.1
402
-02
16
17
18
19
20
21
Life insurance companies
Government-sponsored enterprises
Federally related mortgage pools
ABS issuers
0.0
17.0
150.3
60.3
0.0
9.1
136.6
54.0
0.0
40.2
115.6
585
02
80.6
83.6
83.3
0.3
172.1
1165
685
-0.1
106.9
982
132.8
-0.0
62.9
23.8
67.6
0.1
127.2
69.3
1132
-0.1
1015
126.2
166.4
-0.4
136.1
1735
183.9
25
37.4
1065
132.4
0.3
132.9
169.1
1272
18
19
20
21
22
23
24
25
26
Finance companies
Mortgage companies
REITs
Brokers and dealers
Funding corporations
23.8
-0.0
0.8
15
15.4
17.7
-2.4
1.2
3.7
-65
-1.6
8.0
0.3
2.7
132
02
0.0
3.4
12.0
2.9
502
-115
13.7
05
24.2
51.6
0.4
5.4
-5.0
32.0
80.2
-7.4
52
-295
625
52.0
14.8
52
-0.1
26.4
19.8
4.0
5.2
2.1
39.4
54.3
-10.0
6.0
7.7
-0.4
47.1
10.0
5.9
-31.8
31.6
548
16.0
65
13.1
86.6
22
23
24
25
26
905.1
652.1
806.7
990.0
1073.0
1238.9
1175.4
13523
1185.1
1242.7
12335
1411.0
27
216.6
1052
88.7
825
251.4
-89.1
14.9
-153.0
-51.3
-166.9
-21.8
85.1
28
198.6
-26.1
-35
47.6
29.0
30.7
-5.3
50.8
825
27.8
-0.1
-215
69.1
9.1
0.6
3.7
295.7
49.6
0.7
-94.6
435
-5.8
1.0
-127.7
161.4
-42.6
05
-104.4
-111.7
1.1
-81.9
203.9
-52.4
1.1
-204.0
-79.7
32.3
12
-120.7
81.4
-5.0
1.1
-992
90.3
14.1
1.1
-20.4
29
30
31
32
33.7
86.7
105
13.3
-11.9
98.4
-18.4
1285
-24.2
1332
-21.3
271.8
-13.1
246.6
-24.2
320.2
-24.0
361.6
-24.0
158.8
-20.0
343.9
-13.8
269.7
33
34
5682
523.1
6315
797.3
7125
10775
927.0
1209.3
898.9
1274.9
931.3
1070.0
35
8.1
31.1
27.9
362
315
12.7
18.4
16.7
-4.1
19.7
16.9
9.4
36
125.1
94.9
28.4
-2.8
45
80.8
35.7
485
-15
-1.9
95.3
695
165
5.6
3.7
1422
149.6
-9.8
-0.0
2.4
163.4
148.1
11.2
0.9
3.3
265.9
186.5
75.4
-0.3
42
333.0
178.7
1535
-15
2.4
319.4
222.4
86.6
5.3
52
244.8
227.0
25.6
-9.6
1.8
166.2
118.1
36.1
4.6
7.4
121.7
805
44.2
-5.1
2.1
1912
1255
58.6
5.3
1.7
37
38
39
40
41
-168.2
10.6
15.9
-158.9
12.8
10.0
-79.0
17.7
8.0
-23.4
21.7
95
6.8
28.1
7.1
-75
162
-18.8
17.6
11.6
-10.8
-11.4
22.8
-20.6
32.0
11.0
-23.7
-68.4
195
-20.2
-20.1
22.3
-18.1
5.0
33.4
-12.3
42
43
44
27
28
29
30
31
32
Total net lending
Domestic nonfederal nonfinancial sectors
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
State and local governments
33
34
Federal government
Rest of the world
35
Financial sectors
395
36
Monetary authority
37
38
39
40
41
Commercial banking
U.S.-chartered commercial banks
Foreign banking offices in U.S.
Bank holding companies
Banks in U.S.-affiliated areas
42
43
44
Savings institutions
Credit unions
Bank personal trusts and estates
45
46
47
48
Life insurance companies
Other insurance companies
Private pension funds
State and local govt retirement funds
107.2
26.4
54.0
32.8
865
30.0
35.4
41.1
785
6.7
41.1
23.0
100.9
27.7
45.9
19.8
66.3
24.9
47.0
29.0
99.2
215
61.3
21.4
1352
20.8
58.9
59.4
1355
20.9
572
4.6
72.9
21.9
505
2.7
53.3
22.3
785
18.9
48.7
23.6
65.8
555
1172
23.7
84.3
76.1
45
46
47
48
49
50
51
52
53
54
Money market mutual funds
Mutual funds
Closed-end funds
Government-sponsored enterprises
Federally related mortgage pools
ABS issuers
775
36.2
1.3
14.0
150.3
51.6
32.7
80.1
12.8
15.1
136.6
50.0
4.7
1262
182
68.8
115.6
53.7
20.4
1595
11.0
902
83.6
80.8
30.0
-7.1
-55
119.1
1165
61.9
865
525
5.8
88.9
982
112.1
56.4
-13.4
35
21.9
23.8
555
134.4
23.4
6.4
93.0
69.3
100.9
30.0
58.0
8.4
50.0
126.2
154.4
125.1
141.9
5.0
1905
1735
137.4
175.0
675
-12
39.4
106.5
112.4
18.4
82.1
3.8
134.6
169.1
119.3
49
50
51
52
53
54
55
56
57
58
59
Finance companies
Mortgage companies
REITs
Brokers and dealers
Funding corporations
295
-0.0
-0.7
2.8
-6.3
-9.2
112
-0.7
175
8.2
75
0.1
1.1
-1.3
17.7
-9.0
-0.0
0.6
14.8
-34.9
682
-22.9
4.7
-442
-12.2
64.2
-3.4
1.8
90.1
9.1
85.1
-14.4
1.8
305
32.1
67.2
29.9
1.8
146.2
-8.3
50.8
7.3
1.8
-1.8
5.7
53.7
-36.4
1.9
185.6
7.0
40.9
51.0
1.9
-109.0
130.6
38.9
-16.4
1.7
-75.9
66.4
55
56
57
58
59
(1) Excludes corporate equities and mutual fund shares.
10
Z.1, September 12, 1996
F.2 Credit Market Borrowing by Nonfinaneial Sectors
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
------ 1996 -----Q2
Qi
1990
1991
1992
1993
1994
1995
669.8
481.7
543.0
6285
620.4
7225
846.0
8695
5825
5915
8695
6894
1
Federal government
Treasury securities
Budget agency securities and mortgages
246.9
238.7
82
278.2
292.0
-13.8
304.0
303.8
02
256.1
248.3
7.8
155.9
155.7
02
144.4
142.9
15
247.8
249.0
-12
184.7
183.1
1.6
86.0
85.6
0.4
59.3
54.1
5.1
239.9
2422
-2.3
62.4
602
22
2
3
4
Nonfedeial, by instrument
Commercial paper
Municipal securities and loans
Corporate bonds
Bank loans n.e.c.
Other loans and advances
423.0
9.7
49.3
47.1
0.4
68.1
2035
-18.4
87.8
78.8
-40.9
-485
239.0
8.6
305
67.6
-13.7
10.1
372.3
10.0
74.8
752
3.8
-102
4645
21.4
-29.3
23.3
73.1
55.4
577.8
18.1
-41.3
73.3
99.6
58.3
5982
12.3
-54.9
53.0
145.9
792
684.6
39.1
-22
98.4
99.0
55.2
4965
13.9
-100.3
59.8
75.2
36.1
532.1
7.2
-7.6
82.0
78.2
625
630.0
42.2
-152
58.9
38.4
355
627.0
15.4
40.1
70.0
795
34.4
5
6
7
8
9
10
232.4
226.3
15
6.1
-1.6
16.1
158.4
173.6
-55
-10.0
0.4
-13.7
130.9
187.6
-10.4
-47.8
1.4
5.0
1572
187.9
-6.0
-25.0
05
615
194.3
202.4
1.3
-11.1
1.8
126.3
2282
196.7
10.9
19.0
1.6
141.6
226.0
199.2
2.8
22.4
1.6
136.7
240.0
207.7
14.2
16.3
1.7
155.1
254.9
221.4
13.7
17.7
2.2
156.9
192.1
158.7
12.8
19.5
1.1
117.7
340.4
292.9
14.4
30.8
2.4
129.7
306.4
245.9
17.7
37.6
5.1
81.1
11
12
13
14
15
16
423.0
264.1
1122
110.0
1.1
1.0
46.6
2035
183.8
-61.9
-53.0
-11.0
2.1
81.6
239.0
198.4
195
34.1
-16.0
1.3
21.1
372.3
254.6
555
465
7.0
2.0
62.3
4645
368.7
139.3
124.3
12.1
2.8
-43.4
577.8
380.6
242.9
2085
32.8
1.6
-45.7
5982
366.1
286.3
239.0
46.6
0.8
-54.2
684.6
4012
292.3
258.8
305
3.0
-9.0
4965
414.9
185.1
155.0
265
35
-1035
532.1
340.2
207.9
181.3
27.6
-1.0
-16.0
630.0
435.9
206.6
166.4
40.1
0.1
-125
627.0
391.0
199.1
157.3
34.8
7.0
36.8
17
18
19
20
21
22
23
Domestic
Mortgages
Home
Multifamily residential
Commercial
Farm
Consumer credit
Nonfederal, by sector
Household sector
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local governments
------------------- 1995 ------------------Q3
Q4
Q2
Qi
24
Foreign borrowing in U.S.
23.9
145
23.7
704
-155
695
615
43.1
955
774
435
345
24
25
26
27
28
Commercial peper
Bonds
Bank loans n.e.c.
Other loans and advances
12.3
21.4
-2.9
-7.0
6.4
15.0
3.1
-9.8
52
16.8
2.3
-0.6
-9.0
82.9
0.7
-4.2
-27.3
12.2
1.4
-1.6
13.6
48.3
85
-0.8
37.9
13.9
8.1
1.9
-11.1
51.2
5.6
-2.6
30.9
552
8.2
1.3
-3.4
72.7
11.9
-3.9
-13.8
47.9
8.7
1.1
7.4
11.4
15.2
0.9
25
26
27
28
693.7
4965
566.7
6983
605.1
791.7
907.7
9124
678.0
668.7
9135
7244
29
29
Domestic ond fereign
FJ 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
10
11
12
2114
1555
240.0
291.1
4675
4472
267.7
4395
507.1
574.0
319.9
6865
1
Federal government-related
Govt-sponsored enterprise securities
Mortgage pool securities
U.S. government loans
167.4
17.1
150.3
-0.1
145.7
92
136.6
-0.0
155.8
40.3
115.6
-0.0
1642
80.6
83.6
0.0
288.6
176.9
1165
-4.8
205.1
106.9
98.2
0.0
86.7
62.9
23.8
0.0
196.5
1272
69.3
0.0
227.7
101.5
126.2
0.0
309.6
136.1
1735
0.0
143.8
37.4
1065
0.0
302.0
132.9
169.1
0.0
2
3
4
5
Private financial sectors
Open market peper
Corporate bonds
Bank loans n.e.c.
Other loans and advances
Mortgages
44.0
8.6
54.0
4.7
-23.9
0.6
9.8
-32.0
69.9
8.8
-37.3
05
84.2
-0.7
82.7
22
-0.6
0.6
126.9
-62
120.1
-13.0
22.4
3.6
179.2
41.6
1175
-12.3
22.6
9.8
242.1
42.6
185.2
55
3.4
5.3
181.0
37.6
167.6
-5.0
-245
5.2
243.4
33.9
182.3
20.7
1.3
5.2
279.4
43.7
217.7
7.9
4.9
52
264.4
55.1
173.4
-1.8
32.0
5.6
176.0
17.8
143.3
14.9
-55
55
384.6
105.7
201.0
23.6
48.6
5.8
6
7
8
9
10
11
2114
1554
240.0
291.1
4675
4472
267.7
4395
507.1
574.0
3195
6865
12
Byimtrument
By sector
13
14
15
16
Commercial banking
U.S.-chartered commercial benks
Foreign banking offices in U.S.
Bank holding companies
-26.8
1.7
-0.9
-27.7
-132
-1.1
-9.6
-25
10.0
115
-3.8
2.3
13.4
9.7
-5.1
8.8
20.1
125
-2.6
10.3
225
112
-3.1
14.4
21.7
3.8
1.6
16.3
39.0
20.0
-1.8
20.8
375
13.7
-4.4
28.2
-8.2
7.3
-7.7
-7.9
-325
-7.2
1.2
-26.6
40.1
175
-5.7
28.3
13
14
15
16
17
18
Savings institutions
Credit unions
-30.9
0.0
-44.7
0.0
-7.0
0.0
11.3
0.2
12.8
0.2
2.6
-0.1
-18.9
-0.3
-7.2
-0.1
5.1
0.1
315
0.0
10.9
-0.1
40.2
-0.2
17
18
19
20
21
22
Life insurance companies
Government-sponsored enterprises
Federally related mortgage pools
ABS issuers
0.0
17.0
150.3
60.3
0.0
9.1
136.6
540
0.0
40.2
115.6
585
02
80.6
83.6
83.3
0.3
172.1
1165
685
-0.1
106.9
982
132.8
-0.0
62.9
23.8
67.6
0.1
1272
69.3
1132
-0.1
1015
126.2
166.4
-0.4
136.1
1735
183.9
25
37.4
1065
132.4
0.3
132.9
169.1
1272
19
20
21
22
23
24
25
26
27
Finance companies
Mortgage companies
REITs
Brokers and dealers
Funding corporations
23.8
-0.0
0.8
15
15.4
17.7
-2.4
12
3.7
-65
-1.6
8.0
0.3
2.7
13.2
02
0.0
3.4
12.0
2.9
502
-115
13.7
05
24.2
51.6
0.4
5.4
-5.0
32.0
80.2
-7.4
5.2
-295
62.5
52.0
14.8
5.2
-0.1
26.4
19.8
4.0
52
2.1
39.4
54.3
-10.0
6.0
7.7
-0.4
47.1
10.0
5.9
-31.8
31.6
54.8
16.0
6.5
13.1
86.6
23
24
25
26
27
11
Z.1, September 12,1996
F.4 Credit Market Borrowing, All Sectors, by Instrument
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
Total
------------------- 1995 -------- ---------Q4
Q2
Q3
Ql
------ 1996 -----Ql
Q2
12385
1175.4
13525
1185.1
1242.7
12335
14115
1
1990
1991
1992
1993
1994
1995
905.1
652.1
806.7
990.0
1073.0
2
3
4
5
Open market paper
U.S. government securities
Municipal securities
Corporate and foreign bonds
30.7
414.4
49.3
122 J
-44.0
424.0
87.8
163.6
13.1
459.8
305
167.1
-5.1
420.3
74.8
2785
35.7
449.3
-29.3
153.0
74.3
3495
-41.3
306.8
87.8
3345
-54.9
2345
61.9
381.1
-2.2
331.9
885
313.7
-100.3
332.6
58.9
368.9
-7.6
328.2
46.2
383.7
-15.2
250.1
128.6
364.4
40.1
282.4
2
3
4
5
6
7
8
9
Bank loans n.e.c.
Other loans and advances
Mortgages
Consumer credit
22
37.1
233.0
16.1
-29.1
-95.6
158.9
-13.7
-9.3
8.9
1315
5.0
-85
8.0
160.8
615
625
71.7
204.1
126.3
1135
60.8
233.6
141.6
149.0
565
231.2
136.7
125.3
53.9
245.2
155.1
91.3
422
260.2
156.9
88.3
90.7
197.6
117.7
61.9
31.1
345.9
129.7
118.3
83.9
312.1
81.1
6
7
8
9
185
2094
2965
445.0
1565
1624
485
1525
207.0
2425
2825
4114
10
-44.6
-63.0
11.0
62.2
18.3
13.3
875
27.0
28.1
1215
21.3
36.6
27.3
-44.9
24.1
-11.3
-74.2
125
-355
-60.0
8.4
-12.8
-71.3
17.7
5.0
-92.8
9.6
-2.3
-72.8
13.1
-4.9
-106.8
12.1
73.1
-16.8
21.1
11
12
13
7.4
62.9
30.7
147.2
32.4
209.1
63.4
323.7
48.1
128.9
50.7
173.9
16.4
84.1
40.8
165.0
88.2
202.0
57.4
244.5
89.8
287.6
68.9
338.2
14
15
Memo:
Funds raised through corporate equities and mutualfund shares
10
11
12
13
14
15
Total net issues
Corporate equities
Nonfinancial
Financial
Foreign shares purchased by
U.S. residents
Mutual fund shares
F5 Total Liabilities and Their Relation to Total Financial Assets
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
2
3
4
5
Net flows through credit markets
(from table F4, line 1)
Official foreign exchange
SDR certificates
Treasury currency
Foreign deposits
905.1
652.1
806.7
990.0
1073.0
12385
1175.4
13525
1185.1
1242.7
12335
1411.0
1
2.0
15
1.0
27.9
-5.9
0.0
0.0
-265
-1.6
-2.0
0.2
-35
0.8
0.0
0.4
-185
-5.8
0.0
0.7
54.0
8.8
25
0.6
335
17.8
0.0
0.7
34.6
10.3
0.0
0.7
110.8
9.0
8.6
0.8
-295
-1.9
0.0
0.0
185
-2.1
0.0
0.0
85.0
0.0
0.0
-0.0
8.7
2
3
4
5
6
7
8
9
10
Net interbank transactions
Checkable deposits and currency
Small time and savings deposits
Large time deposits
Money market fund shares
35.0
43.6
63.7
-66.1
68.6
-3.4
86.3
15
-58.5
41.6
49.4
1135
-575
-735
45
505
117.3
-70.3
-235
205
89.7
-9.7
-40.0
19.6
43.3
10.1
-12.8
965
65.6
142.3
-22.3
31.3
29.8
108.8
745
-45
100.2
95.6
74.4
221.1
-13.4
-113.1
145.6
80.2
122.9
80.7
-69.3
114.9
-0.9
151.1
-90.3
44.3
189.0
43.0
244.0
-84.1
1.6
-10.2
85.4
4.1
6
7
8
9
10
11
12
13
14
Security RPs
Corporate equities
Mutual fund shares
Trade payables
-245
-44.6
62.9
35.8
-165
62.2
1475
31.0
43.1
875
209.1
46.6
715
1215
323.7
57.4
78.3
27.3
128.9
114.3
110.7
-11.3
173.9
94.4
1725
-355
84.1
84.0
115.6
-12.8
165.0
72.2
95.0
5.0
202.0
128.3
59.8
-2.3
2445
93.1
-23.7
-4.9
287.6
72.8
70.4
73.1
338.2
187.3
11
12
13
14
15
16
17
18
Security credit
Life insurance reserves
Pension fund reserves
Taxes payable
35
25.7
2435
-4.8
51.4
25.7
1985
-7.4
4.6
27.3
238.6
9.7
61.4
35.2
247.3
5.2
-0.1
34.0
248.0
3.2
26.7
44.7
241.9
1.3
-5.4
51.6
268.1
12.0
30.1
56.3
286.7
1.0
32.3
34.0
213.9
2.4
49.7
37.0
199.0
-105
120.6
21.1
243.6
5.5
-48.3
69.8
208.1
7.1
15
16
17
18
19
20
21
Investment in bank personal trusts
Noncorporate proprietors' equity
Miscellaneous
29.7
10.9
161.9
16.1
0.5
278.2
-7.1
16.7
280.3
1.6
3.4
358.9
18.8
235
260.8
-47.7
42.9
500.1
-44.3
30.6
316.0
-45.6
42.3
484.8
-63.9
54.9
396.9
-37.1
43.6
802.6
-47.3
40.6
542.0
-205
30.0
280.7
19
20
21
15824
1474.0
1793.0
23535
21615
27635
23845
31565
2497.0
30155
30044
2613.0
22
0.2
25.9
1.6
-0.6
-24.0
265
-0.2
-2.8
-4.9
-0.2
-7.0
4.2
-05
44.9
-2.7
-05
27.4
-3.1
-05
41.6
-0.4
-0.4
101.8
-0.9
-0.3
-55.7
12.3
-1.0
21.9
-23.6
-1.1
61.1
10.9
-0.9
445
-27.0
23
24
25
-27.1
-1.7
-75.9
-95
-2.2
9.8
3.6
11.9
-0.2
34.3
11.1
-133.8
315
8.6
-112.1
25
8.7
-135
665
-75
-2645
-53.0
31.0
51.6
235
9.3
-37.9
-26.8
2.2
197.6
-47.8
-23.3
-195.6
33.8
25.1
-11.6
26
27
28
3.3
8.5
-11.2
-13.1
45
36.1
0.7
1.6
11.3
-15
-1.3
-3.6
-4.8
-2.8
-2.8
-6.0
-3.8
-23.7
45
-3.6
48.0
-18.6
-3.8
33.8
3.8
-3.2
-55.6
-13.8
-4.7
-121.2
7.9
-3.8
43.3
-11.3
-4.2
-21.2
29
30
31
1659.0
14465
1772.1
24515
22025
2775.1
24995
30145
26005
2984.7
3152.7
25855
32
22
Total financial sources
- Liabilities not identified as assets:
23
24
25
Treasury currency
Foreign deposits
Net interbank liabilities
26
27
28
Security RPs
Taxes payable
Miscellaneous
- Floats not included in assets:
29
30
31
32
Checkable deposits: Federal govt
Other
Trade credit
Totals identified to sectors
as assets
12
Z.1, September 12, 1996
F.6 Distribution of Gross Domestic Product (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
Q1
1
2
3
4
5
6
Grass Domestic Product (GDP)
Personal consumption expenditures (2)
Durable goods (3)
Nondurable goods and services
Gross private domestic investment
Fixed investment
-------- 1995 -------Q2
Q3
5743.9
5916.7
62443
6553.1
69353
72533
7150.0
72043
7309.7
73503
74263
75473
1
3975.1
42193
4454.1
47003
49243
48403
49103
4957.9
49903
50603
5140.0
2
4763
3362.8
455.3
3519.9
4883
3731.3
530.6
39233
580.9
4120.0
606.4
43183
593.0
4247.6
604.0
43063
615.8
4342.1
612.8
4377.7
6253
4435.3
638.1
4501.9
3
4
799.7
7363
7903
8713
10144
10653
1072.1
10503
10743
1064.0
1069.0
1097.1
5
791.7
7383
783.4
850.6
954.9
1028.3
1014.0
1016.3
1036.6
10463
1070.7
10883
6
557.9
233
383.6
70.1
12.3
68.6
598.8
25.7
403.7
82.7
14.0
72.7
667.2
24.6
437.9
101.8
163
86.7
7383
23.7
499.8
117.3
16.6
81.0
723.6
233
493.6
1143
16.8
753
734.4
233
495.9
116.6
16.7
81.8
746.3
23.9
504.0
118.2
173
83.0
749.7
24.0
505.9
120.0
16.0
83.9
769.0
24.6
516.6
1223
17.0
88.3
7743
24.8
5163
123.4
18.0
91.8
7
8
9
10
11
12
2963
272.7
1.6
19.8
1.6
0.8
301.7
2773
1.6
20.1
1.7
0.8
314.0
2893
1.6
20.4
1.6
0.9
13
14
15
16
17
18
17.8
18.9
1.0
-2.1
-1.7
2.6
0.1
-4.4
8.6
11.3
0.6
-3.3
19
20
21
22
Nonresidential plant and equipment
Household sector (nonprofit organizations)
Nonfinancial corporate business
Nonfarm noncorporate business
Farm business
Financial corporations
575.9
387.7
86.4
13.7
66.0
547.3
23.1
371.1
78.3
12.8
61.9
13
14
15
16
17
18
Residential construction
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
Farm business
REITs
215.7
191.9
1.4
20.0
2.2
0.2
1913
174.7
1.1
14.0
1.3
03
225.6
207.3
1.3
15.3
1.3
0.4
251.8
231.4
1.4
17.0
1.3
0.6
287.7
264.3
13
183
1.6
23
289.8
266.3
13
19.4
1.7
0.8
290.4
281.9
267.3
258.7
13
18.9
1.8
0.8
13
19.2
1.6
0.8
290.3
266.7
1.6
193
1.8
O.8
8.0
5.1
0.3
2.6
-2.3
-13
-0.1
-1.1
7.0
1.9
0.1
5.0
20.6
253
1.3
-6.2
593
45.6
2.4
113
37.0
37.6
2.0
-23
58.1
57.8
3.0
-2.7
34.0
34.3
1.8
-2.1
38.3
39.4
2.1
-33
Change in business inventories
Nonfinancial corporate business
Nonfarm noncorporate business
Farm business
------ 1996 -----Q1
Q2
38393
7
8
9
10
11
12
19
20
21
22
Q4
222
23
Net U.S. experts of goods and services
•713
-203
-293
-62.7
-943
-94.7
-108.7
-1153
-874
-673
-863
-993
23
24
25
Exports
-Imports
557.3
628.6
601.8
622.3
639.4
669.0
657.8
7203
719.1
813.4
807.4
902.1
776.1
884.8
797.3
912.6
819.0
906.6
837.0
904.2
8393
925.8
848.8
948.6
24
25
26
Government consumption expenditures and
gross investment
11763
1226.0
12633
12903
13143
13583
1346.0
13594
13643
13633
1383.7
14103
26
27
28
29
Consumption expenditures (4)
Federal
State and local
976.7
426.6
5503
1025.4
446.0
5793
1054.7
451.1
603.7
1079.8
451.9
627.9
11023
450.7
651.8
1136.4
453.8
682.6
1126.8
454.6
6723
1135.7
455.6
680.1
1139.8
453.6
686.2
1143.4
451.4
692.0
1154.9
453.6
701.3
1174.8
464.7
710.1
27
28
29
30
31
32
Gross investment (4)
Federal
State and local
1993
77.0
1223
200.6
76.6
124.0
209.1
76.9
1323
210.6
70.7
139.9
212.4
65.7
146.7
221.9
62.8
159.1
2193
653
154.0
223.7
224.7
220.1
663
1573
633
1613
56.3
163.8
228.8
65.0
163.8
235.4
66.1
169.3
30
31
32
21.1
1773
156.4
15.7
156.2
1403
11.1
137.9
126.8
10.6
140.7
130.1
-3.8
163.4
1673
-7.0
208.3
215.3
-3.0
200.8
203.8
-2.4
211.9
214.3
-16.4
207.0
223.4
-6.3
213.4
219.7
-03
220.4
220.6
-73
221.0
2283
33
34
35
5765.0
59323
62553
65633
6932.1
72463
7147.0
72023
72933
73443
7426.7
7540.0
36
Memo:
33
34
35
Net U.S. factor income from rest of the world
U.S. receipts
- U.S. payments
36
Grass National Product (GNP) GDP + net U.S. fcetor income
(1) This table corresponds to NIPA table 1.1 in the Survey of Current Business, Department of Commerce.
(2) Component of personal onlays, found on table F. 100, line 4.
(3) Considered investment rather than current expenditure in the flow of funds accounts; added back to NIPA-based personal saving in the calculation of gross saving.
(4) Government inventory investment is included in consumption expenditures.
13
Z.1, September 12,1996
F.7 Distribution of National Income (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
Ql
1
2
3
4
5
6
7
8
National Income
Compensation of employees
Wages and other labor income
Employer social insurance contributions
Wage accruals less disbursements
Proprietors’ income with inventory
valuation and capital consumption adjustments
Nonfarm
Farm
9
Rental income of persons (with capital
consumption adjustment)
10
Corporate profits with inventory
valuation and capital consumption adjustments
11
12
13
14
15
16
Corporate profits with inventory
valuation adjustment
Profits before tax
Domestic nonfinancial
Farm
Foreign subsidiaries
Financial
--------- 1995 -------02
Q3
Q4
------ 1996 -----Ql
Q2
4611.9
4719.7
49503
52314
55014
58023
56962
5752.7
5835.1
59274
60153
61163
1
33523
34573
36443
38093
40093
4222.7
41503
41914
4247.7
43013
43442
44203
2
3058.1
294.6
0.1
3150.4
307.6
-0.1
3337.7
323.0
-15.8
3471.6
333.3
4.7
3644.2
3502
153
3854.5
3653
2.7
37853
360.8
4.0
38252
3633
2.9
3877.0
367.8
2.9
39303
369.9
0.9
3967.3
375.0
1.9
4040.4
380.4
0.0
3
4
5
361.0
362.9
4093
420.1
4503
4783
472.0
474.7
4794
486.7
4993
516.1
6
324.7
36.4
332.7
302
3713
38.0
388.1
32.0
415.9
35.0
449.3
29.0
4433
283
447.1
27.6
4513
28.1
454.9
31.8
461.1
38.4
470.0
46.1
7
8
614
684
80.7
1023
1164
1222
1204
1214
1203
1253
1263
123.1
9
3693
3823
4014
500.7
5294
576.0
5464
5594
5862
6113
6452
6533
10
358.3
378.2
398.9
457.7
517.9
570.8
542.6
547.3
598.0
595.4
624.8
631.1
11
371.7
236.4
0.9
65.8
68.7
3742
217.1
1.1
68.7
87.4
406.4
256.7
1.1
64.9
83.7
464.3
303.0
0.8
693
91.0
531.2
371.7
0.9
64.3
94.3
598.9
402.1
1.0
76.7
119.1
5943
404.2
0.9
75.1
114.3
589.6
397.0
0.9
792
1123
607.3
404.9
1.0
70.9
1303
6042
402.2
1.1
81.7
119.2
642.2
423.1
1.0
83.2
134.9
644.1
429.9
1.1
77.3
135.8
12
13
14
15
16
1403
95.2
03
44.8
133.4
85.0
0.4
48.1
143.0
90.6
0.4
52.0
163.8
103.0
03
60.3
195.3
129.4
03
65.4
218.7
140.2
03
78.0
217.3
141.8
0.4
75.1
2143
138.1
0.4
75.7
224.5
140.8
03
833
218.7
140.1
03
78.1
233.4
147.3
0.4
85.7
236.7
149.4
0.4
86.9
17
18
19
20
Less:
17
18
19
20
Profits tax liability
Domestic nonfinancial
Farm
Financial
Equals:
21
22
23
24
25
26
Profits after tax
Dividends
Domestic nonfinancial
Farm
Foreign subsidiaries
Financial subsidiaries
231.3
151.9
117.6
0.8
21.0
12.5
240.8
163.1
123.8
0.8
21.6
16.9
263.4
1693
132.4
12
233
123
3003
197.3
151.8
0.9
162
283
335.9
211.1
160.9
0.9
20.6
28.7
380.2
227.4
175.0
0.9
21.8
29.7
3773
221.7
1713
0.9
19.7
29.9
375.4
224.6
1753
0.9
19.9
28.6
382.8
2283
174.0
0.9
24.3
29.3
385.5
234.7
179.4
0.9
23.4
31.0
408.8
239.9
184.7
0.9
23.1
313
407.4
243.1
190.1
0.9
20.8
31.3
21
22
23
24
25
26
27
28
29
30
31
Undistributed profits
Domestic nonfinancial
Farm
Foreign subsidiaries
Financial
79.4
23.6
-0.4
44.8
11.3
77.7
8.3
-0.1
47.1
22.4
93.9
33.7
-03
413
19.3
1033
48.2
-0.6
53.4
23
124.9
81.4
-03
43.7
03
152.9
86.9
-0.4
54.9
11.4
1553
913
-0.4
55.4
9.3
150.8
83.7
-0.4
59.3
83
154.3
90.1
-0.4
46.6
18.0
150.8
82.7
-0.3
58.3
10.1
168.9
91.1
-0.3
60.1
18.0
164.3
903
-0.3
563
17.6
27
28
29
30
31
32
Inventory valuation adjustment
-133
4.0
-73
-6.6
-13.3
-28.1
-51.9
-42.3
-9.3
-8.8
-17.4
-13.0
32
33
34
35
36
Capital consumption adjustment
Domestic nonfinancial
Farm
Financial
11.3
4.6
23
4.1
4.4
-0.6
1.6
3.4
23
-1.6
1.3
2.8
43.1
-0.9
1.0
43.0
113
4.6
0.8
63
53
9.1
03
-43
3.8
10.8
0.6
-7.6
12.3
8.3
0.6
3.4
-11.8
7.9
0.5
-20.2
16.5
9.4
03
6.6
20.4
13.2
0.4
6.8
22.7
15.3
0.4
7.0
33
34
35
36
4673
448.0
4143
398.9
394.9
403.7
4069
4053
400.7
401.9
3993
4023
37
4611.9
4719.7
4950.8
5231.6
5501.6
5802.9
56962
5752.7
5835.1
5927.6
6015.3
6116.3
38
21.3
5.3
442.7
575.8
117.3
16.1
20.9
5.4
478.1
599.6
1233
8.8
22.5
5.9
505.6
626.1
128.2
43.7
22.1
6.0
540.0
640.0
133.8
21.8
22.6
73
5723
678.7
140.1
34.2
22.6
8.2
595.6
679.2
146.7
9.8
22.6
8.1
586.0
664.6
144.9
43.8
22.6
8.0
594.8
673.6
1463
23.0
22.6
82
597.3
681.6
147.2
192
22.7
83
604.1
697.0
148.1
-46.6
22.9
8.6
604.1
694.7
148.3
-49.9
23.0
9.2
608.8
703.0
148.6
-51.1
39
40
41
42
43
44
25.4
21.1
23.6
15.7
27.1
11.1
31.7
10.6
25.1
-3.8
18.2
-7.0
192
-3.0
18.7
-2.4
17.9
-16.4
16.9
-6.3
17.3
-0.2
17.8
-7.5
45
46
5743.9
5916.7
62443
6553.1
69353
72533
7150.0
7204.9
7309.7
73503
7426.9
75473
47
37
Net interest
Memo:
Calculation of Gross Domestic Product
from National Income: (2)
38
National Income, from line 1 above
Plus:
39
40
41
42
43
44
Business transfer payments to bouseholds
Business transfer payments to rest of the world
Indirect business taxes and nontaxes
Private consumption of fixed capital
Government consumption of fixed capital
Statistical discrepancy
Less:
45
46
Subsidies less current surplus of
government enterprises
Net U.S. factor income from rest of the world
Equals:
47
Gross Domestic Product
(1) This table corresponds to NIPA table 1.14 in the Survey of Current Business, Department of Commerce.
(2) The relationship of National Income to Gross Domestic Product is shown on NIPA table 1.9 in the Survey of Current Business, Department of Commerce.
14
Zl, September 12, 1996
F.8 Gross Saving and Investment (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1991
1992
1993
1994
1995
904.4
9353
905.4
9713
10563
1141.1
11013
11003
11423
1220.6
12173
12393
1
861.7
932.0
9713
9983
1006.7
1061.1
1030.1
10153
10593
1139.0
1134.0
11203
2
1990
1
2
Grass saving
Gross private saving
------------------- 1995 ------------------Q4
Q3
Q2
QI
------ 1996 -----Q2
Qi
3
Personal saving
208.7
246.4
272.7
2144
189.4
249.3
254.1
218.6
241.8
282.6
2653
243.9
3
4
5
6
7
8
Undistributed corporate profits
Nonfinancial corp, inventory valuation adjustment
Corporate capital consumption adjustment
Private consumption of fixed capital
Wage accruals less disbursements
79.4
-133
11.3
575.8
0.0
77.7
4.0
4.4
599.6
0.0
93.9
-73
23
626.1
-15.8
103.2
-6.6
43.1
640.0
4.7
124.9
-13.3
113
678.7
153
152.9
-28.1
53
6793
2.7
1553
-51.9
3.8
664.6
4.0
150.8
-42.3
12.3
673.6
2.9
154.3
-9.3
-11.8
681.6
2.9
150.8
-8.8
163
697.0
0.9
168.9
-17.4
20.4
694.7
1.9
164.3
-13.0
22.7
703.0
0.0
4
5
6
7
8
42.7
33
-663
-27.0
493
713
843
82.7
814
833
1184
9
-94.0
60.7
-154.6
136.7
56.6
80.1
•
-132.2
63.9
-196.1
135.5
59.6
75.8
-215.0
65.9
-280.9
1483
62.3
863
-1873
683
-255.7
1603
65.6
94.9
-119.7
70.7
-190.3
1693
693
• 99.7
-87.9
73.8
-161.7
167.8
72.9
95.0
-99.1
733
-172.6
170.3
71.4
98.9
-87.0
743
-1613
171.3
72.3
99.0
-84.6
73.8
-158.4
167.3
73.4
93.9
-80.8
73.8
-154.6
162.4
74.3
88.1
-82.0
73.2
-1553
165.9
75.1
90.8
-58.4
72.6
-131.0
177.0
76.0
101.0
10
11
12
13
14
15
0.0
0.0
03
0.0
03
03
0.0
0.0
0.0
0.0
03
0.0
16
9203
944.1
949.1
9934
10903
11503
1145.1
11233
11614
1174.0
1168.0
11884
17
799.7
7363
7903
8713
10144
10653
1072.1
10503
1074.9
1064.0
1069.0
1097.1
18
9
10
11
12
13
14
15
16
17
18
Gross government saving
Federal
Consumption of fixed capital
Current surplus
State and local
Consumption of fixed capital
Current surplus
Capital grants received by the U.S. (net)
Gross investment
Gross private domestic investment
80.0^
19
Fixed investment
791.7
7383
783.4
850.6
954.9
1028.3
1014.0
1016.3
1036.6
1046.2
1070.7
10883
19
20
21
Nonresidential
Residential
575.9
215.7
547.3
1913
557.9
225.6
598.8
251.8
667.2
287.7
7383
289.8
723.6
290.4
734.4
281.9
746.3
290.3
749.7
2963
769.0
301.7
7743
314.0
20
21
22
Change in business inventories
8.0
-2.3
7.0
20.6
593
37.0
58.1
34.0
38.3
17.8
-1.7
8.6
22
23
Gross government investment
1993
2004
209.1
2104
2124
2213
2193
223.7
224.7
220.1
2283
235.4
23
24
Net foreign investment in UJS.
>78j6
74
-504
-883
-1363
-1363
-1463
-1503
-1383
-110.1
-1293
-144.1
24
16.1
83
43.7
213
343
93
433
23.0
193
-46.6
-49.9
-51.1
25
25
Statistical discrepancy (line 17 leas line 1)
(1) This table corresponds to NIPA table 5.1 in the Survey of Current Business, Department of Commerce.
15
Z.1, September 12, 1996
F.9 Derivation of Measures of Personal Saving (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
Net acquisition of financial assets
2
3
4
5
Foreign deposits
Checkable deposits and currency
Time and savings deposits
Money market fund shares
6
Securities
1990
1991
1992
1993
1994
1995
593.1
4003
535.9
5613
615.7
5813
6933
514.4
650.7
467.4
834.0
6083
1
1.4
-0.6
48.7
26.9
1.0
58.2
-54.2
9.1
12
117.1
-763
-41.3
02
76.7
-106.9
5.9
3.2
14.7
-5.8
13.7
1.8
-24.3
152.4
953
1.8
58.3
154.0
42.7
5.9
-12.0
151.4
1572
-1.6
-103.3
184.4
98.7
1.0
-40.4
119.8
833
5.4
-24.0
183.7
160.3
0.6
24.2
69.4
-38.2
2
3
4
5
187.1
99.2
244.1
2253
2583
15.4
213
-177.8
238.6
-20.6
102.6
225.7
6
------------------- 1995 -------- ---------Q2
Q3
Q4
Ql
------ 1996 -----Ql
Q2
7
8
9
10
Open market paper
U.S. savings bonds
Other Treasury securities
Agency securities
6.2
8.5
64.7
26.1
-29.9
11.9
-25.9
-7.6
-3.3
19.1
55.1
38.6
15.6
14.7
15.4
-16.2
-103
8.0
207.8
124.3
0.3
5.1
12.2
-0.4
-36.0
5.8
94.1
-16.4
14.0
4.8
-72.3
-76.9
34.0
3.9
69.8
83.8
-10.9
5.9
-42.9
8.0
-293
3.4
102
-10.8
10.0
2.6
19.1
90.3
7
8
9
10
11
12
13
14
Municipal securities
Corporate and foreign bonds
Corporate equities (2)
Mutual fund shares
26.4
48.6
-33.4
39.9
38.9
33.3
-35.1
113.6
-27.9
-5.4
19.7
148.3
-24.0
44.4
-62.1
237.7
-50.4
8.0
-132.7
104.1
-43.0
63.0
-168.3
1463
-22
69.9
-159.6
65.8
-25.8
29.9
-202.4
151.0
-101.6
151.6
-177.7
174.7
-42.4
0.7
-1333
1943
22.7
293
-128.0
2052
2.8
-53.9
-81.9
236.7
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
25.3
95.9
64.1
83.9
25.6
46.4
723
79.4
27.7
76.7
81.8
79.7
35.7
86.3
82.7
77.8
34.3
71.2
872
892
44.8
66.7
98.3
76.8
51.8
62.1
119.4
86.4
56.4
69.0
128.1
89.6
34.1
64.1
55.7
94.0
37.0
71.6
90.0
37.4
21.1
442
49.9
1493
69.8
323
80.8
94.9
15
16
17
18
19
20
Investment in bank personal trusts
Miscellaneous assets
29.7
30.8
16.1
46.9
-7.1
32.6
1.6
76.0
18.8
30.6
-47.7
101.7
-44.3
139.6
-45.6
92.3
-63.9
49.7
-37.1
1252
-47.3
1883
-20.2
68.8
19
20
21
22
23
24
25
Gross investment in tangible assets
Residential structures
Other fixed assets (3)
Consumer durables
Inventories (3)
815.8
191.9
144.5
476.5
2.9
758.3
174.7
129.4
455.3
-1.1
823.0
207.3
122.2
4883
5.1
897.9
231.4
140.7
530.6
-4.8
10213
264.3
162.4
580.9
13.9
1050.9
266.3
178.7
606.4
-03
1035.9
267.3
1752
593.0
0.3
1040.0
258.7
177.6
604.0
-0.3
1061.9
266.7
180.6
615.8
-1.1
1065.7
272.7
181.4
612.8
-1.1
1084.3
2773
185.9
6252
-4.3
1113.1
2893
188.2
638.1
-2.7
21
22
23
24
25
26
27
28
29
Consumption of fixed capital
Residential structures
Other fixed assets (3)
Consumer durables
577.9
78.6
1212
378.1
612.4
82.7
125.4
404.4
633.9
92.8
132.2
408.9
6742
89.1
136.0
449.1
716.3
993
140.2
476.6
7243
102.3
124.9
497.3
698.9
100.1
1222
476.7
716.1
101.4
123.0
491.7
730.4
102.5
124.3
503.6
752.7
105.2
130.4
517.1
728.6
104.7
1263
497.3
747.7
106.0
128.6
513.1
26
27
28
29
30
Net investment in tangible assets (4)
237.9
1453
189.1
223.7
3052
3264
3373
324.0
3313
313.1
355.7
3654
30
113.3
23.3
98.4
2.9
92.0
4.1
50.9
-1.1
1143
-10.1
79.6
5.1
142.3
4.8
813
-4.8
164.7
22.2
104.3
13.9
164.0
53.8
109.1
-03
1672
53.1
116.3
0.3
157.3
54.7
112.3
-0.3
164.1
56.3
1122
-1.1
1673
51.0
95.7
-1.1
172.8
59.3
127.9
-4.3
183.6
59.6
125.0
-2.7
31
32
33
34
2/66A
212.9
2022
3023
3983
4393
4104
4523
5014
3943
540.7
4583
35
31
32
33
34
35
Residential structures
Other fixed assets (3)
Consumer durables
Inventories (3)
Net increase in liabilities
36
37
38
39
40
41
Mortgage debt on nonfarm homes
Other mortgage debt (3)
Consumer credit
Policy loans
Security credit
Other liabilities (3)
225.8
16.9
16.1
4.1
-3.7
7.7
173.2
5.3
-13.7
4.8
16.3
27.1
187.1
-28.8
5.0
5.7
-1.6
34.8
187.3
-13.8
613
5.7
22.6
39.0
201.8
2.5
126.3
7.8
-1.1
612
196.1
253
141.6
103
33
62.6
198.6
18.0
136.7
6.2
-22.7
73.7
207.1
29.9
155.1
6.8
-2.7
56.7
220.8
30.7
156.9
9.3
34.7
49.0
158.1
232
117.7
19.6
4.9
70.9
292.3
39.1
129.7
7.4
42.1
30.1
245.2
50.9
81.1
6.9
2.6
72.1
36
37
38
39
40
41
42
Personal saving (FOF measure) (5)
5642
3333
5223
483.1
5223
468.0
6193
3853
4803
386.0
649.0
5143
42
43
44
45
- Govt insurance and pension reserves
- Net investment in consumer durables
- Net saving by farm corporations
83.9
98.4
22
79.4
50.9
1.6
79.7
79.6
0.8
77.8
813
0.4
89.2
104.3
0.3
76.8
109.1
02
86.4
116.3
0.2
89.6
112.3
0.2
94.0
112.2
02
37.4
95.7
0.1
1493
127.9
0.1
94.9
125.0
0.1
43
44
45
46
- Personal saving
(NIPA concept, FOF data)
379.7
201.4
362.7
3233
3283
2813
4163
1834
2744
2523
3713
2943
46
47
Personal saving (NIPA measure)
206.7
246.4
272.7
214.4
1894
2493
254.1
2184
2413
2824
2653
2433
47
48
Difference (6)
171.1
-44.9
90.1
108.9
139.0
32.6
162.8
-35.2
32.6
-29.8
106.0
51.0
48
49
Memo:
Disposable personal income
4166.8
4343.7
4613.7
47902
5021.7
5320.8
5234.4
5273.0
5348.4
5427.4
5483.6
5544.8
49
7.7
11.3
7.9
5.9
2.0
10.1
6.7
43
2.3
10.4
63
3.8
2.8
8.8
5.3
4.7
0.6
11.8
8.0
4.9
3.1
7.3
33
4.1
-0.7
9.0
5.1
43
0.6
7.1
4.7
53
-03
11.8
6.8
4.8
1.9
9.3
5.3
4.4
0.9
50
51
52
53
Personal saving as a percentage of disposable personal income:
50
51
52
53
FOF measure (line 42)
NIPA concept, FOF data (line 46)
NIPA measure (line 47)
Difference (line 48)
133
9.1
5.0
4.1
4.6
5.7
-1.0
(1) Consolidated statement for household sector, nonfarm noncorporate business, and farm business.
(2) Only directly held and those in closed-end funds. Other equities are included in mutual funds (line 14), life insurance and pension reserves (lines IS, 16, 17, and 18), ard bank personal trusts (line 19).
(3) Includes corporate farms.
(4) Line 21 less line 26.
(5) Line 1 plus line 30 less line 35.
(6) Household sector discrepancy with sign reversed.
16
Z.1, September 12, 1996
F.100 Households and Nonprofit Organizations (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
Ql
--------- 1995 -------Q2
Q3
Q4
------ 1996 -----Ql
Q2
1
2
3
4
Personal income
- Personal taxes and nontaxes
- Disposable personal income
- Personal outlays
4791.6
624.8
4166.8
3958.1
49685
624.8
4343.7
4097.4
5264.2
650.6
4613.7
4341.0
5480.1
689.9
47902
4575.8
5753.1
731.4
5021.7
4832.3
6115.1
794.3
5320.8
50715
60045
770.1
5234.4
4980.3
6074.4
801.4
5273.0
5054.4
6146.9
798.5
5348.4
5106.6
62345
807.1
5427.4
5144.8
63085
824.9
5483.6
5218.1
6412.1
867.3
5544.8
5300.9
1
2
3
4
5
- Personal saving, NIPA (2)
208.7
2464
272.7
2144
1894
2495
254.1
2185
2415
2824
2655
2435
5
6
8
+ Government insurance and pension reserves
+ Net investment in consumer durables
+ Consumption of fixed capital
83.9
98.4
476.8
79.4
50.9
508.1
79.7
79.6
523.4
77.8
815
561.0
892
104.3
600.0
76.8
109.1
624.1
86.4
116.3
600.7
89.6
112.3
617.4
94.0
112.2
630.7
37.4
95.7
647.4
1495
127.9
6275
94.9
125.0
645.1
6
7
8
9
■ Gross saving
8675
7
10
11
12
13
14
15
Gross investment
Capital expenditures
Residential construction
Consumer durable goods
Nonprofit plant and equipment
Net financial investment
16
Net acquisition of financial assets
17
18
19
20
Foreign deposits
Checkable deposits and currency
Time and savings deposits
Money market fund shares
21
Credit market instruments
22
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
U.S. government securities
Treasury
Savings bonds
Other
Agency
Municipal securities
Corporate and foreign bonds
Mortgages
Corporate equities (3)
Mutual fund shares
Security credit
Life insurance reserves
Pension fund reserves
Investment in bank personal trusts
Equity in noncorporate business
Miscellaneous assets
Net increase in liabilities
Credit market instruments
Home mortgages
Consumer credit
Municipal securities
Bank loans n.e.c.
Other loans and advances
Commercial mortgages
Security credit
Trade payables
Deferred and unpaid
life insurance premiums
Discrepancy
884.7
9554
934.7
983.0
10595
10574
1037.9
1078.7
1063.1
11704
11085
9
10385
8395
10455
10434
1122.0
10915
1220.4
1002.7
1111.4
10335
12764
11595
10
690.6
653.0
719.0
7875
869.7
896.4
8835
8862
906.4
9095
9275
9524
191.9
4765
174.7
455.3
23.1
207.3
4885
23.2
231.4
530.6
25.7
264.3
580.9
24.6
266.3
606.4
23.7
267.3
593.0
232
258.7
604.0
235
266.7
615.8
23.9
272.7
612.8
24.0
2775
625.2
24.6
2895
638.1
24.8
11
12
13
14
222
3482
186.7
3265
2555
2525
1955
3365
116.4
205.0
1235
349.1
2074
15
620.0
3943
5280)
5415
6284
5895
690.4
5252
664.7
479.1
8375
6115
16
1.4
0.3
49.0
26.9
1.0
56.4
-54.0
02
722
-108.2
5.8
32
10.1
-7.1
13.6
1.8
-29.7
1505
95.4
1.8
53.3
152.3
425
5.9
-17.3
149.6
157.1
-1.6
-108.8
182.4
98.6
1.0
-46.1
117.8
83.3
5.4
-295
181.8
160.1
0.6
18.7
67.6
-38.4
17
92
12
110.3
-74.3
-41.3
19
20
198.6
29.0
825
69.1
295.7
435
161.4
-111.7
203.9
-79.7
814
90.3
21
62
-29.9
-21.3
-13.8
11.9
-25.7
-7.6
38.9
33.3
8.1
-3.3
112.1
735
19.1
54.4
38.6
-27.9
-5.4
7.1
15.6
13.3
295
14.7
14.9
-162
-24.0
44.4
19.7
-105
339.4
2152
8.0
2072
124.3
-50.4
8.0
9.2
0.3
162
165
5.1
115
-0.4
-43.0
63.0
7.0
-36.0
82.9
992
5.8
935
-16.4
-22
69.9
46.8
14.0
-1452
-68.3
4.8
-73.0
-76.9
-25.8
29.9
15.3
34.0
156.8
73.0
3.9
69.1
83.8
-101.6
151.6
-37.0
-10.9
-29.8
-37.8
5.9
-43.7
8.0
-424
0.7
2.6
-295
2.1
12.9
34
95
-10.8
22.7
295
56.7
10.0
111.3
21.0
2.6
18.4
90.3
2.8
-53.9
20.1
22
23
24
25
26
27
28
29
30
92
-35.1
113.6
24.6
25.7
2435
29.7
10.9
182
1982
16.1
05
9.6
19.7
148.3
-10.8
27.3
238.6
-7.1
16.7
17.0
-62.1
237.7
26.0
352
247.3
1.6
3.4
13.1
-132.7
104.1
6.7
34.0
248.0
18.8
235
10.6
-168.3
1465
18.6
44.7
241.9
-47.7
42.9
49.8
-159.6
65.8
15.8
51.6
268.1
-44.3
30.6
51.0
-202.4
151.0
1.1
56.3
286.7
-45.6
42.3
52.3
-177.7
174.7
6.9
34.0
213.9
-63.9
54.9
47.3
-1335
1945
505
37.0
199.0
-37.1
43.6
48.7
-128.0
2052
535
21.1
243.6
-47.3
40.6
49.7
-81.9
236.7
-26.4
69.8
208.1
-202
30.0
56.4
31
32
33
34
35
36
37
38
2715
206.1
2015
2855
376.1
3945
3534
4065
4595
3552
4884
404.1
39
264.1
183.8
198.4
254.6
368.7
380.6
366.1
4012
414.9
3402
435.9
391.0
40
224.8
16.1
3.8
-65
10.6
15.3
164.1
-13.7
7.7
-3.4
9.3
19.9
161.1
5.0
9.3
2.7
9.3
10.9
152.1
615
11.9
7.1
7.1
14.8
1945
126.3
145
11.3
8.1
13.9
195.9
141.6
5.9
132
9.9
14.1
191.0
136.7
5.3
13.8
5.8
135
206.0
155.1
8.1
55
8.3
18.3
222.7
156.9
3.7
6.8
7.1
17.6
163.8
117.7
6.4
26.8
18.3
72
296.3
129.7
3.3
-16.9
4.7
18.8
2475
81.1
15
26.4
9.1
255
41
42
43
44
45
46
-3.7
11.3
16.3
8.8
-1.6
4.7
22.6
7.4
-1.1
75
35
9.4
-22.7
9.3
-2.7
9.4
34.7
9.3
4.9
9.4
42.1
9.6
2.6
9.6
47
48
0.1
-0.7
0.0
0.9
0.9
0.9
0.9
0.9
0.9
0.9
0.9
0.8
49
-171.1
44.9
-90.1
-108.9
-139.0
-32.6
-162.8
35.2
-32.6
29.8
-106.0
-51.0
50
98.8
72.6
85
64.1
26.1
26.4
48.6
18.6
-33.4
39.9
25.7
18
Memo:
Net physical investment:
51
52
53
54
55
(A) Residential construction expenditures
- Consumption of fixed capital
■ Net investment
- Home mortgages
- Excess net investment
191.9
78.6
113.3
224.8
-1115
174.7
82.7
92.0
164.1
-72.0
207.3
92.8
1145
161.1
-46.7
231.4
89.1
142.3
152.1
-9.9
264.3
995
164.7
1945
-29.8
266.3
102.3
164.0
195.9
-31.9
267.3
100.1
1672
191.0
-23.8
258.7
101.4
157.3
206.0
-48.7
266.7
1025
164.1
222.7
-58.6
272.7
105.2
1675
163.8
3.7
2775
104.7
172.8
296.3
-1235
2895
106.0
183.6
2475
-64.0
51
52
53
54
55
56
57
58
59
60
(B) Consumer durable goods expenditures
- Consumption of fixed capital
■ Net investment
* Consumer credit
- Excess net investment
4765
378.1
98.4
16.1
82.3
455.3
404.4
50.9
-13.7
64.6
4885
408.9
79.6
5.0
74.6
530.6
449.1
815
615
20.0
580.9
476.6
104.3
126.3
-22.0
606.4
497.3
109.1
141.6
-325
593.0
476.7
116.3
136.7
-20.4
604.0
491.7
112.3
155.1
-42.8
615.8
503.6
1122
156.9
-44.7
612.8
517.1
95.7
117.7
-22.0
625.2
497.3
127.9
129.7
-1.9
638.1
513.1
125.0
81.1
43.9
56
57
58
59
60
(1) Supplementaiy tables (tables F. 100a and L. 100a) show estimates of annual flows and year-end outstandings of nonprofit organizations.
(2) See table F.9 for derivation of alternative measures of personal saving.
(3) Only directly held and those in closed-end funds. Other equities are included in mutual funds (line 32), life insurance and pension reserves (lines 34 and 35), and bank personal trusts (line 36).
17
Z.1, September 12,1996
F.101 Nonfinancial Business (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
QI
-------- 1995 --------Q2
Q3
Q4
------ 1996 -----Q2
QI
Income before taxes
707.7
697.3
798.8
852.4
955.1
10185
1012.8
1009.3
1021.4
1030.7
10655
1085.1
1
2
Gross saving
5123
5282
549.9
5935
6414
6444
616.1
626.4
6583
6763
6795
6872
2
3
Gross investment
4294
5394
5043
6834
645.7
632.1
5873
5924
6093
738.6
663.0
668.7
3
5194
476.1
490.9
540.7
636.7
701.1
7052
6873
7285
6824
677.7
690.1
4
511.4
23.6
487.8
4785
16.3
462.3
483.9
17.9
466.0
520.1
19.7
500.4
5772
21.3
556.0
656.4
22.6
633.8
647.1
22.3
624.9
6515
22.4
629.1
662.2
22.8
639.4
664.8
23.0
641.8
679.4
23.4
656.0
681.5
23.6
657.9
5
6
7
8.0
02
-2.3
-0.1
7.0
0.0
20.6
0.0
595
0.0
58.1
0.0
34.0
2.4
38.3
28.0
17.8
0.0
-1.7
0.0
8.6
0.0
8
9
-902
63.4
134
142.9
85
-1175
-955
-118.7
56.0
-14.7
-21.4
10
4
Capital expenditures
5
6
7
Fixed investment
Residential construction
Plant and equipment
8
9
Change in inventories
Access rights from federal government
10
Net financial investment
37.0..
7.6
11
Net acquisition of financial assets
1055
1253
184.7
3734
2953
357.1
1925
4153
306.0
5134
461.7
3525
11
12
13
14
15
16
Foreign deposits
Checkable deposits and currency
Time and savings deposits
Money market fund shares
Security RPs
-0.1
14.8
-16.6
10.1
-0.6
1.8
175
-6.7
5.1
-05
-0.7
13.7
-172
15.9
3.4
-1.4
18.1
23.6
-2.4
-2.6
02
8.9
-12
75
-0.4
0.4
205
0.0
31.0
02
-5.9
-15.9
-41.4
6.9
6.0
1.7
39.3
27.9
59.0
20.9
4.6
44.9
72
17.8
-20.8
1.0
135
6.4
402
-5.3
12.3
46.3
-95
32.6
-02
-8.0
13.7
6.4
13.8
1.8
12
13
14
15
16
17
Credit market instruments
-29.6
25.4
27.7
9.8
50.3
-4.8
-42.0
40.6
-51.3
33.4
-3.9
15.2
17
-05
-19.1
-7.7
-5.7
3.3
0.9
7.3
20.1
12
-42
2.3
21.4
1.0
02
2.8
2.4
-0.7
8.9
-7.7
6.9
-0.8
35.0
4.7
2.0
9.4
1.0
-7.1
-4.7
7.6
-1.6
4.0
-67.9
-212
5.8
37.3
-7.6
35.8
4.4
6.4
1.6
4.2
-56.7
4.6
8.4
-11.8
3.3
60.6
-6.7
9.6
-33.3
-4.1
-4.8
-53.9
8.4
505
0.9
0.3
35.0
6.4
-27.3
18
19
20
21
22
-1.0
31.9
96.6
2.4
-6.9
87.3
5.0
34.7
1022
6.8
545
2672
2.1
110.3
117.6
4.2
92.3
213.4
3.0
222
260.0
3.0
30.0
1935
3.0
165.7
134.9
7.9
151.2
265.3
5.0
-4.8
383.9
9.0
186.4
114.1
23
24
25
195.7
61.9
1712
230.7
2864
426X1
3104
5114
424.7
4574
4764
3735
26
1122
-61.9
195
555
139.3
242.9
286.3
292.3
185.1
207.9
206.6
199.1
27
18
19
20
21
22
23
24
25
26
27
Commercial peper
U.S. government securities
Municipal securities
Mortgages
Consumer credit
Mutual fund shares
Trade receivables
Miscellaneous assets
Net increase in liabilities
Credit market instruments
28
29
30
Commercial paper
Municipal securities
Corporate bonds
9.7
-0.3
47.1
-18.4
-12
78.8
8.6
-0.0
67.6
10.0
-0.1
752
21.4
-15
23.3
18.1
-2.9
73.3
12.3
-7.4
53.0
39.1
-2.7
98.4
13.9
-2.0
59.8
72
0.4
82.0
42.2
-7.7
58.9
15.4
0.0
70.0
28
29
30
31
32
33
Bank loans n.e.c.
Other loans and advances
Mortgages
6.9
56.6
-7.8
-375
-58.1
-255
-165
0.9
-41.1
-3.3
-16.7
-9.7
61.8
48.3
-14.1
86.3
49.9
182
132.1
74.7
215
935
48.4
15.7
68.4
305
14.6
51.4
45.9
21.1
55.3
325
25.4
53.2
27.1
33.4
31
32
33
-63.0
30.1
-4.4
103.6
18.3
23.0
-7.7
1002
27.0
40.6
7.9
67.1
21.3
40.0
2.7
115.3
-44.9
94.8
32
64.1
-742
72.0
0.0
155.8
-60.0
72.7
9.8
-15.0
-71.3
44.9
0.1
214.0
-92.8
112.3
02
184.3
-72.8
58.3
-9.9
239.9
-106.8
67.6
4.7
278.3
-16.8
1432
6.7
16.1
34
35
36
37
25.9
255
38
165
18.4
39
34
35
36
37
38
39
Corporate equities
Trade payables
Taxes payable
Miscellaneous liabilities
Proprietors* net investment
Discrepancy
17.1
-9.9
92
-4.0
30.0
295
165
315
35.7
342
82.9
-11.4
45.6
-89.8
-4.3
12.3
28.4
34.0
49.1
-62.2
(1) Combined statement for nonfarm nonfinancial corporate business, nonfarm noncorporate business, and farm business.
18
Zl, September 12, 1996
F.102 Nonfarm Nonfinancial Corporate Business
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
------------------- 1995 ------------------Q3
Q4
Q2
Q1
------ 1996 -----Q2
Q1
1
2
3
4
5
6
7
Profits before tax (book)
* Profit tax accruals
- Dividends
+ Consumption of fixed capital
- U.S. internal funds, book
+ Foreign earnings retained abroad
+ Inventory valuation adjustment (IVA)
236.4
95.2
117.6
354.1
377.8
44.8
-133
217.1
85.0
123.8
362.8
371.1
47.1
4.0
256.7
90.6
132.4
371.0
404.7
41.5
-73
303.0
103.0
151.8
3853
433.4
53.4
-6.6
371.7
129.4
160.9
413.0
4943
43.7
-13.3
402.1
1403
175.0
430.1
517.0
54.9
-28.1
4043
141.8
1713
423.0
514.2
55.4
-51.9
397.0
138.1
1753
426.9
5103
59.3
-42.3
404.9
140.8
174.0
431.7
521.8
46.6
-9.3
4023
140.1
179.4
438.7
5213
58.3
-8.8
423.1
147.3
184.7
444.6
535.7
60.1
-17.4
429.9
149.4
190.1
4503
541.0
563
-13.0
1
2
3
4
5
6
7
8
- Total internal finds + IVA
409.1
4223
4384
4803
5243
5433
517.7
5273
559.1
571.0
5784
5843
8
9
Gram investment
3263
510.0
6333
5613
566.0
9
10
11
12
13
Capital expenditures
Fixed investment (1)
Inventory change + IVA
Access rights from federal government
4334
393.0
570.0
529.1
5313
4894
4934
3943
3703
3863
4304
485.0
5464
5523
534.1
573.0
5263
520.7
5293
10
389.1
5.1
0.2
372.2
-13
-0.1
384.9
1.9
0.0
405.1
253
0.0
439.4
45.6
0.0
501.4^
37.6
7.6
495.1
57.8
0.0
497.4
34.3
2.4
505.6
39.4
28.0
507.4
18.9
0.0
5183
2.6
0.0
518.1
11.3
0.0
11
12
13
14
Net financial investment
-683
62.7
63
1394
44.1
-15.1
-633
-404
-63.0
1063
41.1
364
14
15
Net acquisition of financial assets
1153
129.8
1673
3573
278.1
336.0
1733
3953
2843
491.0
4393
3303
15
16
17
18
19
20
Foreign deposits
Checkable deposits and currency
Time and savings deposits
Money market fund shares
Security RPs
-0.1
15.7
-16.3
10.2
-0.6
1.8
15.7
-6.6
53
-03
-0.7
6.9
-15.0
15.8
3.4
-1.4
13.6
22.3
-23
-2.6
03
4.3
-2.6
7.4
-0.4
0.4
15.1
-1.9
30.8
03
-5.9
-20.9
-43.1
6.8
6.0
1.7
34.1
26.0
58.8
20.9
46
39.4
53
17.6
-20.8
1.0
7.8
44
40.0
-5.3
12.3
40.7
-11.4
32.4
-03
-8.0
8.3
4.6
13.6
1.8
16
17
18
19
20
21
22
23
24
25
26
27
Commercial paper
U.S. government securities
Municipal securities
Mortgages
Consumer credit
Trade receivables
Mutual fund shares
-03
-19.7
-7.7
-1.6
3.3
29.2
-1.0
0.9
7.6
20.1
63
-43
-5.8
2.4
2.3
20.6
1.0
1.1
2.8
27.6
5.0
2.4
-1.3
8.9
-7.8
6.9
50.7
6.8
-0.8
34.3
4.7
1.9
9.4
106.3
2.1
1.0
-7.8
-4.7
7.3
-1.6
87.3
4.2
4.0
-68.6
-213
6.0
37.3
17.6
3.0
-7.6
35.1
4.4
6.0
1.6
253
3.0
4.2
-57.4
4.6
8.0
-11.8
160.6
3.0
3.3
59.8
-6.7
93
-33.3
145.8
7.9
-41
-53
-53.9
8.0
503
-10.4
5.0
0.9
-0.4
35.0
6.0
-27.3
181.0
9.0
21
22
23
24
25
26
27
28
29
30
31
32
33
Miscellaneous assets
U.S. direct investment abroad (2)
Insurance receivables
Equity in GSEs
Investment in finance co. subs.
Other
104.4
27.8
133
0.0
6.4
57.0
86.9
29.4
2.1
03
3.1
52.0
96.6
35.6
133
0.0
2.3
45.1
261.3
52.1
6.6
0.0
0.8
201.6
111.1
57.8
7.8
0.1
4.1
41.3
205.7
86.6
33
0.0
5.6
1103
252.6
67.0
53
0.1
2.9
1773
186.0
50.9
3.6
0.0
9.9
121.6
1273
79.6
2.7
0.1
3.3
41.4
257.1
148.8
1.1
0.0
6.3
100.8
375.9
76.3
-0.0
1.6
0.1
297.9
105.8
803
-1.3
1.4
-2.6
27.8
28
29
30
31
32
33
1833
67.1
1613
217.9
234.0
351.1
237.0
4353
3473
3843
3983
2934
34
47.0
-63.0
110.0
9.7
-0.3
47.1
2.7
-34.8
18.3
-53.0
-18.4
-13
78.8
-37.8
61.1
27.0
34.1
8.6
-0.0
67.6
-19.3
67.8
21.3
463
10.0
-0.1
753
-6.0
79.4
-44.9
124.3
21.4
-13
23.3
47.4
134.3
-743
2083
18.1
-2.9
73.3
71.8
179.0
-60.0
239.0
12.3
-7.4
53.0
111.8
1873
-71.3
258.8
39.1
-2.7
98.4
75.3
623
-92.8
155.0
13.9
-2.0
59.8
56.6
1083
-72.8
181.3
73
0.4
82.0
43.4
59.6
-106.8
166.4
423
-7.7
58.9
42.6
1403
-16.8
157.3
15.4
0.0
70.0
34.0
35
36
37
38
39
40
41
34
35
36
37
38
39
40
41
Net increase in liabilities
Net funds raised in markets
Net new equity issues
Credit market instruments
Commercial paper
Municipal securities (3)
Corporate bonds (2)
Bank loans n.e.c.
42
43
44
45
46
47
48
49
Other loans and advances
Savings institutions
Finance companies
U.S. government
Acceptance liabilities to banks
Rest of the world
ABS issuers
Mortgages
613
-6.3
21.1
-0.8
-6.6
50.1
3.8
-10.3
-543
-5.3
1.8
-0.8
-5.9
-47.3
3.0
-20.0
4.7
-5.0
5.0
-0.1
-2.9
4.9
2.8
-273
-16.4
-0.8
-6.0
03
-3.3
-163
10.0
-163
43.6
-0.3
38.7
03
-2.1
23
43
-10.0
41.6
13
343
0.8
-0.8
-0.9
6.8
6.7
59.8
3.3
563
0.7
63
-11.9
4.7
93
45.7
0.4
30.0
0.7
13
3.7
93
3.0
23.4
0.9
22.0
0.8
-7.6
2.8
4.4
3.4
37.6
0.4
29.4
0.9
-3.8
1.9
8.8
10.8
21.4
1.8
22.0
1.0
0.1
-63
2.7
9.0
27.7
1.8
5.7
1.0
-3.4
12.2
10.4
103
42
43
44
45
46
47
48
49
50
51
52
53
54
55
Trade payables
Taxes payable
Miscellaneous liabilities
Foreign direct investment in U.S.
Pension fund contributions peyable
Other
28.4
-5.0
113.1
57.1
-2.3
58.3
23.1
-8.2
87.0
11.8
3.7
71.4
33.4
73
593
12.8
2.0
44.7
36.4
2.0
111.7
2.1
3.1
1063
91.8
2.4
60.4
353
33
22.0
67.4
-0.8
150.1
51.4
33
953
68.7
9.0
-19.7
49.4
33
-72.3
403
-0.7
208.6
52.7
33
152.7
1073
-0.7
178.3
543
33
120.6
53.1
-10.7
233.3
48.9
3.2
181.2
62.7
3.9
272.0
63.1
3.2
205.7
137.4
5.9
9.7
75.3
3.2
-68.7
50
51
52
53
54
55
56
Discrepancy
82.9
-11.4
45.6
-89.8
-4.3
12.3
28.4
34.0
49.1
-62.2
163
18.4
56
57
58
Memo:
Trade receivables net of trade payables
Financing gap (4)
0.8
30.2
-28.9
-43
-5.8
-10.3
14.2
3.8
143
3.8
19.9
57.7
-51.0
903
-15.3
65.9
53.1
603
92.8
13.7
-73.1
23
433
13
57
58
108.0
27.0
42.8
98.9
-143
65.6
97.4
8.7
179.1
100.9
10.6
145.8
100.8
25.0
63.9
1113
36.3
64.4
117.6
393
74.9
112.9
44.9
72.4
111.6
26.6
40.1
102.6
33.9
59.9
1003
30.9
35.8
100.3
29.0
89.3
59
60
61
Analytical measuret (percent)
59
60
61
Capital outlays (5)/U.S. internal funds
Credit market borrowing/capital outlays (5)
Net funds raised/credit market borrowing
(1) Nonresidential plant and equipment plus residential construction, shown on table F.6, lines 9 and IS, respectively.
(2) 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.
(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) Capital expenditures (line 10) less the sum of U.S. internal funds (line 5) and inventory valuation adjustment (line 7).
(5) Capital outlays equal capital expenditures (line 10) less inventory valuation adjustment (line 7).
19
Z.1, September 12,1996
F.103 Nonfarm Noncorporate Business
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
Q1
1
Net income with IVA and CCAdj
2
Gross saving » capital consumption
3
Gross investment
4
5
6
7
Capital expenditures
Fixed investment (1)
Change in inventories
Net financial investment
8
Net acquisition of financial assets
9
10
11
12
13
14
15
16
17
18
19
Checkable deposits and currency
Time and savings deposits
Money market mutual funds
Treasury securities
Mortgages
Consumer credit
Trade receivables
Miscellaneous assets
Insurance receivables
Equity investment in GSEs (2)
Other
20
21
22
23
24
25
26
27
28
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
5873
77.7
------- 1995 --------Q3
Q2
Q4
------ 1996 -----Q2
Qi
580.1
584.7
588.4
596.7
604.0
609.1
76.0
76.1
763
813
78.1
792
1
2
78.1
792
3
142.7
1444
4
434.9
450.1
504.2
5173
548.4
803
83.0
883
903
933
803
83.0
883
903
933
77.7
76.0
76.1
763
813
1224
138.7
1363
1374
1393
1403
106.6
922
853
101.0
106.4
0.3
92.3
-0.1
85.4
0.1
99.6
1.3
120.0
2.4
136.7
2.0
133.4
3.0
135.8
1.8
137.8
2.1
139.8
1.0
142.6
0.1
143.8
0.6
5
6
-264
-93
2.7
-103
-293
-60.9
-603
-613
-623
-583
-644
-652
7
-122
-6.7
134
13.1
133
16.7
154
163
172
17.7
174
17.1
8
-1.3
-0.3
-0.1
0.6
-4.1
0.0
2.7
-9.8
-4.8
-0.1
-4.9
0.8
-0.1
-0.1
-0.3
-5.0
0.0
-1.1
-0.9
3.8
0.0
-4.8
5.0
-2.2
0.1
0.7
-0.9
0.0
7.1
3.6
-23
-0.0
6.1
2.8
1.3
0.1
0.6
0.1
0.0
3.8
4.4
0.8
03
3.4
3.0
1.3
0.1
0.6
0.1
0.0
4.0
43
0.8
03
33
3.7
1.9
0.2
0.7
0.3
0.0
5.0
5.0
1.0
0.0
4.0
3.4
1.6
0.2
0.7
-0.2
0.0
43
5.2
1.1
0.1
4.0
3.6
1.8
0.2
0.7
0.4
0.0
4.8
5.0
1.0
0.0
4.0
3.8
2.0
0.2
0.7
0.4
0.0
5.1
5.0
1.0
0.0
4.0
4.0
2.0
0.2
0.8
0.4
0.0
5.4
5.0
1.0
0.0
4.0
3.9
1.9
02
0.7
0.4
0.0
5.6
4.9
1.0
0.0
3.9
3.8
1.8
0.2
0.7
0.4
0.0
5.4
4.8
1.0
0.0
3.8
9
10
11
12
13
14
15
16
17
18
19
14.1
23
10.7
233
423
77.7
76.0
78.0
802
764
822
823
20
1.1
2.1
-5.1
4.1
1.3
0.6
-9.4
20.6
-11.0
-1.4
-3.7
-5.9
-0.3
03
133
0.2
-16.0
2.7
-3.6
-15.1
6.9
0.6
73
11.6
7.0
0.6
0.3
6.1
2.6
0.7
33
93
12.1
123
53
-5.9
2.7
0.8
3.8
233
32.8
133
9.4
9.9
4.0
0.8
5.7
34.3
46.6
20.0
16.2
10.4
3.4
0.8
4.7
20.4
303
16.0
33
11.0
3.8
0.8
5.4
37.4
263
10.0
73
9.0
4.2
0.8
6.0
42.6
27.6
8.0
10.3
9.3
4.6
0.8
6.6
36.9
40.1
14.0
12.1
14.0
4.4
0.8
6.4
303
34.8
16.0
0.8
18.0
5.2
0.8
6.4
35.1
21
22
23
24
25
26
27
28
(1) Nonresidential plant and equipment plus residential construction, shown on table F.6, lines 10 and 16, respectively.
(2) 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
36.4
22
20.8
1.8
19.0
30.2
1.6
21.4
1.7
19.7
38.0
0.8
22.3
1.9
20.4
32.0
0.4
22.4
2.0
20.4
35.0
0.3
23.1
2.0
21.1
29.0
02
22.7
2.1
20.6
283
0.2
22.2
2.1
20.2
27.6
02
223
2.1
20.4
28.1
02
22.8
2.1
20.7
31.8
0.1
23.3
2.2
21.1
38.4
0.1
22.9
2.1
20.8
46.1
0.1
233
22
21.3
1
2
3
4
5
6
Gross saving
23.0
23.0
23.1
223
234
22.9
224
22.7
223
23.4
23.0
233
6
7
Gross investment
23.0
23.0
23.1
223
234
22.9
224
22.7
223
23.4
23.0
233
7
183
13.0
183
92
294
153
153
162
15.7
153
142
163
8
15.9
2.6
14.1
-1.1
133
5.0
15.3
-62
17.9
113
18.4
-23
18.6
-2.7
18.3
-2.1
18.9
-32
17.6
-2.1
18.6
-4.4
19.6
-3.3
9
10
43
93
43
13.7
-53
7.1
63
63
72
73
83
73
11
8
9
10
11
Capital expenditures
Fixed investment (2)
Change in inventories
Net financial investment
12
Net acquisition of financial assets
23
22
33
32
33
44
4.0
42
44
43
43
52
12
13
Checkable deposits and currency
Miscellaneous assets
Insurance receivables
Equity investment in GSEs (3)
0.4
2.0
22
-02
1.0
1.3
l.l
0.2
1.8
2.0
2.1
-0.1
1.7
13
1.4
0.1
1.7
2.0
2.0
0.0
1.7
2.7
2.8
-0.1
1.7
2.3
23
-0.2
1.7
23
2.7
-0.1
1.7
2.8
2.9
-0.1
1.7
3.2
3.1
0.1
1.7
32
3.3
-0.1
1.7
33
33
0.1
13
14
15
16
-2.0
-7.7
-03
-103
93
-2.7
-23
-23
-23
-3.1
-4.0
-2.1
17
1.0
2.1
0.5
-1.6
03
-33
2.1
1.7
0.0
0.4
0.2
-10.0
1.3
0.1
-0.2
1.4
02
-2.3
2.0
2.1
-0.6
03
1.0
-133
2.8
1.9
-0.8
1.8
0.3
63
1.6
1.1
-1.1
1.6
03
-4.8
0.8
0.3
-12
1.6
03
-3.9
3.0
22
-0.8
1.7
03
-5.9
33
1.8
-0.4
22
0.6
-6.9
-1.0
-0.0
-2.1
1.1
0.6
-2.6
0.1
-1.3
-1.0
2.4
0.6
-4.7
7.0
32
-1.4
5.1
0.6
-9.6
18
19
20
21
22
23
14
15
16
17
18
19
20
21
22
23
Net increase in liabilities
Credit market instruments
Bank loans rte.c.
Other loans and advances
Mortgages
Trade payables
Proprietors’ net investment
(1) Corporate and noncorporate farms.
(2) Nonresidential plant and equipment plus residential construction, shown on table F.6, lines 11 and 17, respectively.
(3) Equity in the Farm Credit System.
20
Z.1, September 12, 1996
F.105 State and Local Governments, Excluding Employee Retirement Funds (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
Ql
1
Receipts, NIPA basis
------- 1995 --------Q2
Q3
Q4
------ 1996 -----Q2
Ql
729.0
7842
8443
897.1
946.4
996.1
9805
994.7
10015
1007.1
10225
10455
1
2
3
4
Tax receipts
Social insurance receipts
Grants-in-aid received
5392
57.4
132.4
569.9
60.9
153.4
607.8
64.3
1722
644.4
66.9
185.8
680.8
69.7
195.9
718.1
71.9
206.1
704.0
71.1
205.8
711.8
71.6
211.3
7255
72.2
203.8
731.0
72.8
203.3
741.9
73.4
207.6
752.3
742
219.3
2
3
4
5
Expenditures, NIPA basis
6485
7084
758.1
8022
8464
901.1
882.0
895.7
9074
919.0
932.1
9445
5
6
7
Consumption expenditures
Net interest and transfers
550.2
98.7
5795
129.0
603.7
1545
627.9
1742
651.8
194.9
682.6
218.4
6722
209.8
680.1
215.6
686.2
221.4
692.0
227.0
701.3
230.8
710.1
234.7
6
7
Net surplus, NIPA basis
80.1
755
862
945
99.7
95.0
985
99.0
935
88.1
905
101.0
8
9
10
+ Consumption of fixed capital
- Pension fund reserves
56.6
61.9
59.6
53.8
62.3
52.7
65.6
50.6
695
61.8
72.9
61.0
71.4
59.4
72.3
59.3
73.4
64.6
74.3
60.9
75.1
66.9
76.0
60.1
9
10
11
• Grass saving
745
814
955
1095
1074
1065
1105
112.0
102.7
1015
99.0
1165
11
12
Grass investment
8
894
73.1
894
902
1103
1092
1175
1095
1065
103.1
905
1394
12
13
Fixed faivestment
12/5
1244
1322
1395
146.7
159.1
154.0
1572
1615
1635
1635
1695
13
14
Net financial investment
-325
-505
-425
-49.7
-363
-50.0
-362
-482
-54.7
•60.7
-735
-29.7
14
165
315
-194
132
-793
-954
-90.1
-57.0
-1575
-764
-85.7
72
15
-1.0
-2.7
-26.6
5.2
-10.1
-16.6
3.1
-62
4.9
1.4
-4.8
16.7
25
5.8
12.0
2.9
9.8
25.7
-0.2
8.0
16.6
7.3
5.6
14.8
-0.4
9.6
44.0
5.0
15.9
27.3
-6.8
7.9
15.6
0.8
142
142
16
17
18
47.6
50.8
-215
3.7
-94.6
-127.7
-104.4
-81.9
-204.0
-120.7
-992
-20.4
19
40.3
355
4.8
2.1
5.3
46.0
23.0
23.0
1.4
35
-20.8
-20.4
-0.4
-0.6
-0.0
95
26.6
-17.1
-05
-5.4
-94.0
-130.8
36.8
-2.8
22
-1252
-133.1
8.0
-5.9
3.3
-104.2
-87.3
-16.9
-5.3
5.1
-80.9
-107.8
26.9
-55
45
-198.1
-182.7
-15.4
-6.4
05
-117.6
-154.8
372
-6.1
3.1
-942
-91.8
-2.4
-7.1
2.0
-14.4
-78.4
63.9
-8.0
1.9
20
21
22
23
24
-05
2.1
0.3
-3.8
-5.1
-6.1
-10.2
-2.8
-72
-4.2
-3.2
-1.6
25
IS
Net acq. af financial assets
16
17
18
Checkable deposits and currency
Time and savings deposits
Security RPs
19
Credit market instruments
20
21
22
23
24
25
U.S. government securities
Treasury
Agency
Municipal securities
Mortgages
Taxes receivable
49.7
824
234
625
-43.0
-455
-535
-85
-1035
-155
-124
365
26
27
Credit market instruments
46.6
81.6
21.1
62.3
-43.4
-45.7
-542
-9.0
-1035
-16.0
-125
36.8
27
28
29
30
31
Municipal securities
Short-term
Other
U.S. government loans
45.8
2.9
42.8
0.9
81.3
6.9
74.4
0.4
21.3
-1.1
22.3
-0.1
62.9
1.8
61.1
-0.6
-42.3
-22
-402
-1.1
-442
12
-45.4
-15
-52.9
10.7
-635
-1.3
-75
-3.8
-3.7
-1.4
-102.0
-13.1
-88.8
-15
-14.4
112
-255
-1.6
-10.8
-0.8
-10.0
-1.7
38.7
4.1
345
-1.8
28
29
30
31
3.1
0.8
2.3
0.6
0.4
02
0.3
0.2
02
0.1
0.1
0.0
32
-14.8
8.6
65
19.7
-2.9
-2.4
-6.9
3.0
-4.1
-1.6
8.4
-22.7
33
26
32
33
Net increase in UabUities
Trade payables
Discrepancy
(1) Data for retirement funds are shown in table F.120.
21
Z.1, September 12,1996
F.106 Federal Government
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
2
3
4
5
Receipts, NIPA basis
Personal taxes
Corporate profits tax accruals
Indirect taxes
Social insurance receipts
1990
1991
1992
1993
1994
1995
1129.9
1149.0
11985
12755
1377.0
485.7
118.0
65.1
461.1
476.9
109.7
79.8
482.6
490.8
118.7
81.9
507.1
523.6
1375
88.2
526.0
561.4
164.4
92.7
558.6
------------------- 1995 ------------------Q4
Q2
Q3
Qi
------ 1996 -----Q2
Qi
14785
14495
14832
14864
14944
1523.1
15725
1
614.9
184.3
91.2
588.1
594.6
183.1
91.7
579.9
624.4
180.7
935
584.6
617.3
189.1
88.4
591.8
623.3
184.3
91.3
595.9
639.6
1965
84.4
602.6
678.1
199.2
83.2
612.0
2
3
4
5
6
Expenditures, NIPA basis
12845
1345.1
14794
15305
15675
16402
16215
1644.4
1645.0
1649.4
16782
17035
6
7
8
9
Consumption expenditures
Transfers, grants, etc.
Net interest
426.6
678.0
179.9
446.0
706.4
192.7
451.1
8325
195.9
451.9
886.7
192.3
450.7
9152
201.4
453.8
957.3
229.1
454.6
946.4
220.9
455.6
9595
229.3
453.6
959.1
232.3
451.4
964.1
233.9
453.6
9942
2305
464.7
1008.0
230.8
7
8
9
•1544
-196.1
-2805
-255.7
-1905
-1724
-1612
-158.4
-1544
-1552
-131.0
10
60.7
22.0
63.9
25.6
65.9
27.0
68.2
272
70.7
275
73.8
15.8
735
27.0
74.2
30.3
73.8
295
73.8
-235
732
82.6
72.6
34.8
11
12
-161.7 '
10
Surplus, NIPA basis
11
12
+ Consumption of fixed capital
. Insurance and pension reserves
13
■ Gross saving
-116.0
-1575
-242.0
-2144
-147.1
-103.7
-126.1
-1175
-114.1
-572
-1644
-932
13
14
Gross investment
-1024
-1765
-2745
-2225
-1805
-1365
-166.7
-132.4
•1914
-56.4
-1872
-1234
14
77.0
-02
76.6
0.1
76.9
0.0
70.7
-0.0
65.7
0.0
62.8
-7.6
652
0.0
665
-2.4
632
-28.0
56.3
0.0
65.0
0.0
66.1
-0.0
15
16
-1794
-2534
-3515
-2934
-2464
-192.0
-2315
-1964
-2264
-112.7
-2522
-189.1
17
693
592
-25.4
-52
-495
-185
205
264
-712
-505
564
-474
18
0.8
4.8
0.1
-2.6
27.4
0.1
-1.7
-16.9
-0.7
1.0
20.7
-0.1
-2.7
-21.7
-0.1
6.4
-0.0
0.3
13.4
72
1.8
7.3
78.0
-0.3
5.1
-57.3
-0.0
-0.0
-27.9
-05
1.4
42.6
0.4
1.2
-33.1
13.2
19
20
21
33.7
105
-11.9
-18.4
-24.2
-21.3
-13.1
-24.2
-24.0
-24.0
-20.0
-13.8
22
0.0
35.6
-1.9
0.0
15.4
-4.9
0.0
-11.9
0.0
0.0
-15.4
-2.9
0.0
-14.0
-10.1
0.0
-13.4
-7.9
0.0
-8.4
-4.8
0.0
-17.4
-6.9
0.0
-13.2
-10.8
0.0
-14.7
-9.3
0.0
-9.6
-10.4
0.0
-5.6
-82
23
24
25
-1.9
-2.6
342
-4.9
-7.4
36.1
-7.1
-2.6
15.4
-2.6
-2.1
-3.8
-42
-0.3
3.3
-0.1
-1.3
-2.4
-1.7
29.7
-162
-1.7
-272
-5.3
-12
0.3
5.8
4.1
-8.2
6.0
6.3
32.0
-5.8
5.0
-165
-35
26
27
28
2485
3125
3265
2875
196.7
173.4
2524
223.1
1554
622
309.1
141.7
29
15
1.0
0.0
0.0
-2.0
0.2
0.0
0.4
0.0
0.7
22
0.6
0.0
0.7
0.0
0.7
8.6
0.8
0.0
0.0
0.0
0.0
0.0
-0.0
30
31
246.9
2782
304.0
256.1
155.9
144.4
247.8
184.7
86.0
59.3
239.9
62.4
32
85
230.3
82
-0.0
11.9
280.1
-13.8
0.0
19.1
284.6
02
-0.0
14.7
233.7
7.8
-0.0
8.0
147.7
02
0.0
5.1
137.9
15
0.0
5.8
243.2
-1.2
0.0
4.8
178.3
1.6
0.0
3.9
81.7
0.4
0.0
5.9
48.3
5.1
0.0
3.4
238.8
-2.3
0.0
2.6
575
22
0.0
33
34
35
36
-5.7
22.0
-17.1
-5.3
25.6
14.3
-2.8
27.0
-0.1
3.4
272
0.7
8.9
275
3.9
6.0
15.8
45
1.3
27.0
-24.0
2.1
30.3
5.4
8.4
295
22.3
12.1
-235
14.3
12
82.6
-145
35.8
34.8
8.7
37
38
39
-13.4
192
32.8
7.7
33.8
33.1
40.6
15.1
775
-0.9
22.7
29.9
40
8.3
145
-16.9
192
-26.7
-5.7
135
592
-535
-42.1
50.9
-31.2
41
15
16
Fixed investment
Access rights sales
17
Net financial investment
18
Net acq. of financial assets
19
20
21
Gold, SDRs, and official foreign exchange
Checkable deposits and currency
Time and savings deposits
22
Credit market instruments
23
24
25
26
27
28
29
Agency securities
Mortgages
Other loans and advances
Trade receivables
Taxes receivable
Miscellaneous assets
Net increase in liabilities
30
31
SDR certificates
Treasury currency
32
Credit market instruments
33
34
35
36
37
38
39
40
Savings bonds
Other Treasury securities
Budget agency securities
Multifamily residential mortgages
Trade payables
Insurance and pension reserves
Miscellaneous liabilities
Discrepancy
Memo:
41
Change in cash balance (1)
(1) Time and savings deposits (line 21) plus checkable deposit and currency liabilities of the monetary authority and commercial banking sectors (table F.204, lines 3 and 7).
22
Z.1, September 12, 1996
F.107 Rest of the World
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
Ql
1
2
3
4
5
6
7
8
9
10
11
Foreign income from U.S.
U.S. imports from abroad
U.S. factor payments to foreign
Net transfers to foreign
--------- 1995 -------02
Q3
04
------ 1996 -----Ql
Q2
813.4
7504
8273
886.7
1018.9
11513
1123.1
1160.0
11642
11603
1189.7
12133
1
628.6
156.4
28.4
622.3
140-5
-12.1
669.0
126.8
32.0
720.5
130.1
36.1
813.4
167.2
38.3
902.1
215.3
34.6
884.8
203.8
34.5
912.6
214.3
33.1
906.6
223.4
34.2
904.2
219.7
36.6
925.8
220.6
43.3
948.6
2283
36.8
2
3
4
7343
798.0
7773
7983
8823
10154
9763
10092
1026.0
10504
10593
10693
557.3
1773
0.0
601.8
1562
0.0
639.4
137.9
0.0
657.8
140.7
0.0
719.1
163.4
0.0
807.4
208.3
0.0
776.1
200.8
0.0
797.3
211.9
0.0
819.0
207.0
0.0
837.0
213.4
0.0
8393
220.4
0.0
848.8
221.0
0.0
5
6
7
8
Gross saving (1)
784
-74
904
882
1363
1363
1462
1903
1382
110.1
1293
144.1
9
Net financial investment
482
36.4
85.7
964
134.7
1164 _
117.0
283
3163
4.1
1223
1244
10
1382
74.1
1953
289.1
2783
4053
3283
4022
4963
393.7
4944
3174
11
Foreign outlays to U.S.
U.S. exports to foreign
U.S. factor receipts from foreign
Net capital grants from foreign
Net acquisition of financial assets
12
13
14
15
16
Gold and SDRs (2)
Net interbank assets
U.S. checkable deposits
U.S. time deposits
Security RPs
-02
25.6
-0.3
-0.7
-3.4
-02
-19.9
-1.4
-02
1.2
2.3
50.3
13
-1.1
20.9
-03
45.6
-0.3
6.8
19.7
-0.4
92.7
1.8
13
-13.6
-0.8
11.3
1.1
-63
212
-33
-4.8
-1.7
-5.4
42.2
-0.6
-3.3
-2.8
-14.3
25.3
1.4
-21.8
5.8
-7.9
163
-0.6
75.0
3.0
13
1.0
-0.8
-653
-44
10.8
283
-0.8
-71.9
163
-62
18.8
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
Credit market instruments
Open market paper
U.S. government securities
Official
Treasury
Agency
Private
Treasury
Agency
U.S. corporate bonds (3)
Loans to U.S. corporate business
86.7
-2.0
33.3
302
29.6
0.7
3.0
-23
5.6
5.3
50.1
13.3
0.6
43.9
16.1
14.8
1.3
27.8
18.8
8.9
162
-47.3
98.4
1.6
73.9
22.4
183
3.9
513
37.1
14.3
18.1
4.9
1283
5.9
108.7
53.0
49.0
41
55.7
24.4
31.3
30.4
-163
1332
6.0
86.6
36.8
30.7
6.1
49.8
342
15.6
38.0
23
271.8
18.7
196.9
723
68.8
3.7
124.3
99.3
25.0
572
-0.9
246.6
15.9
186.4
45.0
403
43
141.4
119.9
213
56.1
-11.9
3202
17.0
247.8
106.1
100.8
5.3
141.7
1213
202
51.7
3.7
361.6
18.1
280.0
84.0
82.0
2.1
196.0
149.1
46.9
60.6
2.8
158.8
233
732
55.0
51.9
3.1
18.2
6.9
11.3
602
1.9
343.9
-50.1
3273
222.6
222.4
02
104.9
47.3
57.6
72.7
-6.2
269.7
45.7
1403
-83
-133
5.0
149.0
126.7
22.3
71.3
12.2
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
U.S. corporate equities
Trade receivables
Security credit
Miscellaneous assets
Foreign direct investment in U.S. (4)
Other
-16.0
62
0.0
402
47.9
-7.7
10.4
0.8
0.0
70.1
22.0
48.1
-5.6
3.0
0.0
26.3
17.6
8.7
20.9
49
0.0
63.4
43.0
20.4
0.9
2.1
0.0
60.6
49.8
10.9
16.4
1.0
0.0
89.9
60.2
29.6
-14.7
-0.8
0.0
70.3
43.2
27.1
21.9
-6.6
0.0
623
38.8
23.7
193
3.1
0.0
118.7
99.9
18.8
38.9
8.1
0.0
108.0
59.1
48.9
12.9
3.7
0.0
125.3
1148
10.6
25.8
48
0.0
60.8
42.9
17.9
28
29
30
31
32
33
Net increase in liabilities
903
37.7
1103
232.7
1442
288.7
2113
3733
180.0
389.7
3313
1923
34
35
36
U.S. official foreign exchange
and net IMF position
U.S. private deposits
2.0
27.9
-5.9
-263
-1.6
-33
0.8
-183
-5.8
54.0
8.8
333
17.8
346
10.3
110.8
9.0
-293
-1.9
18.2
-2.1
85.0
0.0
8.7
35
36
37
38
39
40
41
42
43
44
45
Credit market instruments
Commercial paper
Bonds
Bank loans n.e.c.
Official
Banks
Other
U.S. government loans
Acceptance liabilities to banks
23.9
12.3
21.4
-2.9
-03
-2.7
0.4
-3.7
-32
148
6.4
15.0
3.1
-0.4
1.0
23
-5.4
-4.4
23.7
52
16.8
2.3
1.0
0.7
0.6
02
-0.7
70.4
-9.0
82.9
0.7
-1.0
12
03
-1.1
-3.1
-15.3
-27.3
122
1.4
-0.2
0.0
1.6
-1.3
-0.3
693
13.6
48.3
83
0.4
2.1
5.9
-1.1
0.3
61.8
37.9
13.9
8.1
13
0.3
6.3
0.9
0.9
43.1
-11.1
512
5.6
-1.7
2.6
4.7
-0.4
-2.3
953
30.9
552
8.2
0.8
41
3.3
-3.6
49
77.4
-3.4
72.7
11.9
1.0
13
9.4
-1.4
-2.4
43.8
-13.8
47.9
8.7
-1.4
4.9
5.2
-1.7
2.8
34.9
7.4
11.4
152
4.4
3.9
6.9
12
-0.3
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
Foreign corporate equities (5)
Trade payables
Security debt
Miscellaneous liabilities
U.S. equity in IBRD, etc.
U.S. government deposits
U.S. direct investment abroad (3,4)
Other
7.4
-12
0.0
30.0
1.3
0.1
24.9
3.7
30.7
3.0
0.0
21.6
13
1.0
30.4
-11.3
32.4
12
0.0
58.1
1.4
0.1
40.1
163
63.4
3.3
0.0
1132
1.1
0.3
78.2
33.6
48.1
3.6
0.0
59.6
1.4
0.2
543
33
50.7
5.7
0.0
120.4
13
-0.1
953
23.5
16.4
0.9
0.0
79.8
1.2
-1.6
602
19.9
40.8
14.4
0.0
154.3
1.0
0.0
73.0
80.3
88.2
-4.6
0.0
21.3
1.6
1.0
72.4
-53.7
57.4
12.2
0.0
226.3
2.1
0.1
1763
47.6
89.8
-112
0.0
1262
1.8
0.6
92.8
31.0
68.9
-6.8
0.0
87.1
1.4
-0.9
91.9
-5.4
46
47
48
49
50
51
52
53
30.4
-43.7
-352
31.8
1.6
19.7
292
122.3
-178.7
106.0
6.9
193
54
34
54
Discrepancy (FOF basis) (6)
55
56
57
58
Memo:
Net U.S. exports, NIPA basis
+ Net U.S. factor income (7)
- Net transfer payments to foreign
4 Net capital giants received
-71.3
21.1
28.4
0.0
-20.5
15.7
-12.1
0.0
-29.6
11.1
32.0
0.0
-62.7
10.6
36.1
0.0
-94.3
-3.8
38.3
0.0
-94.7
-7.0
34.6
0.0
-108.7
-3.0
343
0.0
-115.3
-2.4
33.1
0.0
-87.6
-16.4
34.2
0.0
-672
-6.3
36.6
0.0
-86.3
-02
43.3
0.0
-99.8
-73
36.8
0.0
55
56
57
58
99
- Net foreign investment in U.S.
(NIPA basis)
-784
74
-904
-882
-1363
-1363
-1462
-1503
-1382
-110.1
-1293
-144.1
99
(1) Line 1 minus line 5; also equal to line 59 with the sign reversed.
(2) U.S. net sales, sign reversed.
(3) Through 1992:Q4> corporete bonds include net issues by Netherlands Antillean financial subsidiaries; U.S. direct investment abroad excludes net inflows from those bond issues.
(4) Direct investment is valued on a current-cost basis. Excludes capital gains and losses.
(5) Includes American Depositary Receipts (ADRs).
(6) Balance of payments discrepancy adjusted to NIPA concepts.
(7) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP.
23
Z.1, September 12,1996
F.108 Monetary Authority (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
-22
1991
-05
1992
1.0
1993
0.1
1994
-22
1995
-22
------------------- 1995 ------------------Q2
Q3
Q4
Ql
-22
-22
-22
------ 1996 -----Q2
Ql
-22
-22
-22
1
Gross saving
2
Fixed nonresidential investment
02
02
02
02
02
02
02
02
02
02
02
02
2
3
Net acquisition of financial assets
262
222
17.1
42.1
282
19.7
402
312
-152
222
-42
-94
3
1.3
15
0.8
-3.2
0.0
0.6
-22
-2.0
0.4
0.4
0.0
0.6
-2.6
0.0
0.9
32
22
1.0
7.9
0.0
0.9
3.6
0.0
1.1
25
8.6
1.1
-1.3
0.0
1.0
-2.8
0.0
1.1
-0.4
0.0
0.9
4
5
6
1.1
-0.3
162
-15
0.0
-25
25
05
-7.8
-2.3
-0.6
5.1
-1.6
0.1
-2.6
0.8
-0.1
3.3
3.1
-0.6
10.1
0.9
05
14.8
-0.9
0.8
-11.3
0.1
-1.1
-0.6
-0.3
-0.4
-135
-0.9
2.4
-20.9
7
8
9
8.1
31.1
27.9
36.2
315
12.7
18.4
16.7
-4.1
19.7
16.9
9.4
10
0.0
8.1
8.3
-02
0.0
0.0
31.1
31.4
-0.3
0.0
0.0
285
-0.6
0.0
0.0
36.2
37.0
-0.8
0.0
0.0
315
325
-1.0
0.0
0.0
12.7
13.7
-1.0
0.0
0.0
18.4
19.4
-0.9
0.0
0.0
16.7
17.9
-12
0.0
0.0
-4.1
-3.3
-0.8
0.0
0.0
19.7
20.7
-1.0
0.0
0.0
16.9
17.3
-0.4
0.0
0.0
9.4
9.9
-0.6
0.0
11
12
13
14
15
-2.0
-2.3
-22
2.6
2.6
-3.3
0.3
-5.7
-12.3
4.7
-55
0.2
16
26.6
22.1
16.7
412
282
195
304
37.4
-15.0
242
-62
-102
17
4
5
6
Gold and foreign exchange
SDR certificates
Treasury currency
7
8
9
Federal Reserve float
Fed. Res. loans to domestic banks
Security RPs
10
11
12
13
14
15
16
17
Credit market instruments
Acceptances
U.S. government securities
Treasury
Agency
Bank loans n.e.c.
Miscellaneous assets
Net increase in liabilities
27.9
1
18
19
Depository institution reserves
Vault cash of commercial banks
3.1
3.9
-92
1.0
2.7
-1.7
2.9
0.8
-42
55
-12
2.4
-55
-142
-2.3
05
-72
3.3
10.3
20.0
-22.8
-12.2
18.2
-4.8
18
19
20
21
22
23
Checkable deposits and currency
Due to federal government
Due to rest of the world
Currency outside banks
25.2
2.8
-0.2
22.6
292
8.8
0.6
19.8
17.6
-10.3
-0.7
28.7
37.1
72
0.1
29.8
25.3
-7.7
-0.1
33.1
17.0
-12
02
18.0
50.8
9.1
0.6
412
46.0
23.7
-0.7
23.0
-20.6
-27.6
02
6.7
-8.4
-102
0.9
0.9
41.6
25.2
-0.6
17.0
-16.6
-42.4
0.1
25.6
20
21
22
23
24
25
26
Miscellaneous liabilities
Federal Reserve Bank stock
Other
-5.6
0.2
-5.8
1.1
02
0.9
-1.8
0.4
-22
1.0
0.3
0.6
1.3
0.3
1.1
12
0.3
1.0
-0.6
0.4
-1.0
-6.8
0.1
-6.9
9.4
0.4
9.0
3.0
02
2.8
-12.8
0.3
-13.1
-7.6
0.4
-8.0
24
25
26
-2.6
-1.0
0.4
-05
-3.3
-3.4
-12.7
25
-2.6
-0.7
-4.9
-45
27
27
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.
24
Zl, September 12, 1996
F.109 Commercial Banking (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1
Gross saving
315
1991
39 J6
1992
53J
1993
1994
1995
------------------- 1995 ------------------Q3
Q4
Q2
Ql
------ 1996 -----Q2
Ql
69.6
532
505
495
545
44.7
545
56.0
57.0
1
343
305
355
36.0
365
40.0
2
Fixed nonresidential investment
354)
325
342
335
30.0
425
2
3
Net acquisition of financial assets
106.6
103.4
1815
237.7
2322
3365
4063
4073
2835
2495
165.0
2185
3
4
5
6
Vault cash
Reserves at Federal Reserve
Checkable deposits and currency
3.9
4.2
-0.1
1.0
-8.8
-0.8
-1.7
25
-05
0.8
25
-0.3
55
-35
0.4
2.4
-1.1
02
-142
-4.4
-0.9
05
-2.7
1.0
3.3
-7.0
-1.3
20.0
9.8
1.7
-122
-22.8
-0.8
-4.8
19.0
0.4
4
5
6
7
Total bank credit
130.1
105.1
115.2
162.6
156.8
273.4
326.9
354.3
244.9
1675
145.1
171.6
7
8
9
10
U.S. government securities
Treasury
Agency
61.1
6.8
54.3
111.3
60.4
50.9
104.7
61.9
42.8
725
27.8
44.7
-262
-31.8
55
27.0
-11.7
38.7
44.4
23.9
205
46.9
-7.6
54.4
20.6
-37.9
585
-3.9
-25.4
21.4
-122
-275
15.3
29.4
19.7
9.7
8
9
10
11
12
Municipal securities
Corporate and foreign bonds
-16.4
4.6
-14.2
7.6
-5.7
-1.6
1.7
35
-1.6
4.3
-42
8.4
-8.9
-62
-3.8
6.4
-4.3
242
0.3
92
-1.6
-4.6
-1.2
2.6
11
12
13
14
15
16
17
18
Total loans
Open market paper
Bank loans n.e.c.
Mortgages
Consumer credit
Security credit
83.6
2.8
2.2
78.6
1.9
-2.0
-3.1
-2.0
-29.1
31.9
-145
10.6
185
-1.4
-9.3
192
-6.9
16.9
83.6
-1.9
-85
472
342
12.7
183.7
-15
622
65.4
632
-5.7
239.8
-0.1
1135
77.0
44.8
4.6
297.7
-5.0
149.0
114.3
37.9
15
3025
4.6
125.3
90.6
50.3
31.6
197.7
-1.0
91.3
67.9
48.7
-92
161.2
0.9
88.3
352
42.4
-5.7
162.3
1.7
61.9
63.0
10.6
25.1
139.6
-4.7
118.3
26.2
24.3
-245
13
14
15
16
17
18
19
20
Corporate equities
Mutual fund shares
-25
-0.3
1.7
1.8
-0.4
-0.4
0.9
05
-1.4
-1.9
2.1
0.3
-0.6
05
1.1
1.3
6.1
05
1.8
-1.0
0.7
0.6
1.7
-0.6
19
20
-9.8
-21.7
-102
17.0
-3.6
70.0
-6.4
78.4
-2.4
75.4
-0.6
625
75
91.9
-0.8
55.3
-2.6
46.1
-6.2
565
3.0
52.7
-3.7
36.1
21
22
21
22
Customers' liab. on acceptances (2)
Miscellaneous assets
23
Net increase in liabilities
104.7
1135
1845
241.1
255.1
3003
3495
309.1
277.1
266.4
1012
2965
23
24
25
26
27
Net interbank liabilities
To monetary authority
To domestic banks (3)
To foreign banks
28.0
0.8
1.6
25.6
4.8
-15
26.2
-19.9
48.4
3.0
-4.9
50.3
46.9
-2.9
4.2
45.6
88.4
-15
-2.7
92.7
8.9
0.7
-3.1
11.3
-2.6
25
-0.4
-4.8
-2.7
15
-0.9
-3.3
-9.6
-0.1
12.3
-21.8
50.4
-1.0
-23.6
75.0
-55.3
-0.7
10.9
-655
-975
15
-27.0
-71.9
24
25
26
27
28
29
30
31
Checkable deposits
Federal government
Rest of the world
Private domestic
21.7
5.3
-0.1
165
37.6
55
-2.0
34.1
92.8
-5.9
2.3
96.4
74.1
12.1
-0.4
-45.9
-4.7
0.8
62.4
-31.7
-18.9
1.9
-14.7
-42.0
-175
2.7
-2.3
-17.9
34.0
35.8
-2.1
0.3
-110.7
-26.0
5.6
-90.3
-89.4
-315
2.1
-60.0
-24.1
25.3
-3.7
-45.6
-72
-2.0
16.3
-21.6
28
29
30
31
32
33
34
Small time and savings deposits
Large time deposits
Federal funds and security RPs (net)
123.0
-22.1
-25.6
78.9
-24.0
-19.3
2.7
-66.8
182
-11.9
-21.0
415
-1.1
21.3
782
113.7
54.8
305
31.8
73.7
84.6
1365
40.7
535
139.4
94.9
44.1
147.4
9.9
-60.3
211.7
46.7
16.7
425
84.4
96.1
32
33
34
35
Credit market instruments
-26.8
-132
10.0
13.4
20.1
225
21.7
39.0
375
-8.2
-325
40.1
35
-24.0
-4.8
2.0
-20.1
42
2.7
-7.7
145
32
-25
72
8.6
3.1
7.7
9.3
-22
185
62
5.3
19.0
-2.6
-1.9
272
13.7
12.1
21.1
4.2
-242
6.7
9.3
5.1
-20.7
-16.9
122
225
5.3
36
37
38
2.1
-02
4.6
0.9
-0.0
47.6
4.3
02
74.9
1.9
05
95.8
1.8
0.7
77.3
25
0.9
112.7
0.6
0.8
156.8
4.9
0.9
2.3
1.6
1.0
78.9
2.8
1.0
212.9
3.2
1.1
-66.3
6.4
1.1
131.0
39
40
41
-5.0
165
22.1
39.7
46.0
-19.9
-37.6
-795
2.3
35.1
-47.8
925
42
125.1
80.8
95.3
142.2
163.4
265.9
333.0
319.4
244.8
166.2
121.7
191.2
43
36
37
38
39
40
41
42
Open market paper
Corporate bonds
Other loans and advances
Corporate equity issues
Taxes payable
Miscellaneous liabilities
Discrepancy
Memo:
43
Credit market funds advanced (3)
(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 18) less corporate equities (line 19) less mutual fund shares (line 20) plus customers* liability on acceptances (line 21).
25
Z.1, September 12,1996
F.110 U.S.-Chartered Commercial Banks
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1
Gross saving
2
3
1991
1992
1993
53.4
1994
292
1995
24.0
------------------- 1995 ------------------Q3
Q4
Ql
Q2
235
22.7
26.7
282
1
332
335
375
395
2
215.1
1362
865
1435
3
-25
28.3
-335
13.7
4
248.4
219.2
142.3
715
109.2
5
21.0
28.6
433
Fixed nonresidential investment
335
312
32.1
31.0
273
315
273
32.7
Net acquisition of financial assets
99.0
33.0
73.7
157.1
1535
2005
1982
2523
8.0
-73
1.1
3.0
2.0
15
-16.4
-3.6
90.8
46.0
71.9
1573
1405
194.8
1695
4
Vault cash and reserves at Federal Reserve
5
Total bank credit
------ 1996 -----Ql
Q2
293
20.0
6
7
8
9
10
11
U.S. government securities
Treasury
Agency
Mortgage pool securities
Agency-issued CMOs
Other agency securities
545
1.7
52.8
215
23.3
8.0
96.6
50.3
46.3
9.0
34.6
2.7
853
46.6
38.9
1.8
33.3
3.8
56.8
20.6
36.2
17.6
11.1
73
-25.2
-27.0
1.8
9.1
-14.4
7.1
-17.1
-40.4
23.4.
12.9
-18.4
28.8
-66.1
-56.8
-9.4
-175
-11.7
19.8
-75
-43.2
35.6
-1.4
-10.1
47.2
33.4
-23.7
57.1
49.3
-18.4
262
-27.9
-38.0
10.1
21.1
-33.3
222
-37.8
-45.7
7.9
38.2
-14.9
-15.4
5.8
0.9
4.9
192
-255
11.2
6
7
8
9
10
11
12
13
14
15
16
Municipal securities
Corporate and foreign bonds
Private mortgage pool securities
Privately issued CMOs
Other bonds
-16.4
3.6
-0.3
0.0
3.9
-14.1
4.3
0.3
0.4
3.6
-5.7
-32
0.3
-6.6
3.1
1.9
0.1
0.9
-1.8
1.0
-2.0
-0.6
-1.1
1.7
-1.2
-4.3
3.3
0.9
35
-1.1
-8.9
-135
-1.3
0.6
-12.8
-3.7
2.2
0.6
3.7
-2.1
-4.7
14.8
1.7
4.2
8.9
0.2
9.6
2.6
5.3
1.7
-1.8
0.3
-05
3.7
-2.9
-12
-2.6
-0.6
-1.7
-0.3
12
13
14
15
16
17
18
19
20
21
22
Total loans
Open market paper
Bank loans n.e.c.
Mortgages
Consumer credit
Security credit
51.9
0.8
-7.8
62.4
1.9
-5.4
-44.3
-1.0
-533
223
-143
2.2
-4.1
-1.6
-19.7
21.1
-6.9
3.1
97.3
-1.0
7.6
523
34.2
4.1
1715
-1.3
455
68.6
632
-4.6
2105
0.3
75.8
812
44.8
8.3
258.2
-1.0
104.7
1195
37.9
-2.8
255.0
2.1
83.6
94.3
50.3
24.6
169.0
02
60.4
70.9
48.7
-11.3
159.7
0.0
545
40.2
42.4
225
1095
0.7
37.1
69.2
10.6
-8.1
106.1
-2.7
69.9
295
24.3
-14.8
17
18
19
20
21
22
23
24
Corporate equities
Mutual fund shares
-23
-0.3
1.7
1.8
-0.4
-0.4
0.9
03
-1.4
-1.9
2.1
0.3
-0.7
05
1.1
1.3
62
05
1.7
-1.0
0.7
0.6
1.7
-0.6
23
24
-4.1
4.3
-4.6
-0.9
-0.1
0.8
-2.4
-0.9
-02
11.7
2.4
1.8
62
39.1
1.0
65
3.3
-4.9
-1.0
-33.3
2.1
465
2.6
18.3
25
26
25
26
27
Customers’ liab. on acceptances (1)
Miscellaneous assets
Net increase in liabilities
1072
525
85.0
175.7
1992
1895
1653
1775
2315
1845
504
2492
27
28
29
30
31
32
Net interbank liabilities
Federal Reserve float
Borrowing from Federal Reserve benks
To domestic banking
To foreign benks
8.4
1.1
-0.3
-9.9
17.4
7.9
-13
0.0
17.9
-8.6
12.8
23
03
14.6
-4.8
29.1
-2.3
-0.6
13.3
18.7
78.9
-1.6
0.1
5.6
74.7
-6.6
0.8
-0.1
-7.3
0.0
-39.1
3.1
-0.6
-49.8
8.2
-15.8
0.9
05
-4.0
-13.3
21.6
-0.9
0.8
25.0
-3.4
7.1
0.1
-1.1
-05
8.6
-133.7
-0.3
-0.4
-79.8
-53.3
-30.3
-0.9
2.4
6.6
-38.4
28
29
30
31
32
33
34
35
36
Checkable deposits
Federal government
Rest of the world
Private domestic
22.0
5.3
-0.4
17.1
37.6
53
-22
34.3
92.8
-5.9
1.7
96.9
73.8
12.1
-0.3
61.9
-322
-18.9
15
-14.9
-46.0
-4.7
0.9
-42.1
-13.4
2.7
-05
-15.6
33.3
35.8
-0.8
-1.6
-110.6
-26.0
4.9
-89.6
-93.2
-315
0.0
-61.7
-23.0
25.3
-1.9
-46.3
-8.8
-2.0
13.3
-202
33
34
35
36
37
38
39
Small time and savings deposits
Large time deposits
Federal funds and security RPs (net)
121.9
-203
-33.7
80.0
-73.1
-27.1
2.1
-76.2
17.4
-10.9
-20.0
45.4
-0.7
17.9
71.7
113.3
42.6
28.3
332
63.9
88.8
133.7
33.3
32.0
139.6
33.3
49.9
1465
39.8
-57.4
212.0
28.1
35
43.7
64.1
68.9
37
38
39
40
41
42
43
44
Acceptance liabilities
Corporate bonds
Other loans and advances
Corporate equity issues
Taxes payable
-4.4
4.2
2.0
2.1
-0.2
-4.7
0.9
2.7
0.9
-0.0
-0.1
8.4
32
4.3
02
-23
3.6
8.6
1.9
03
-0.3
3.4
9.3
1.8
0.7
2.3
2.7
6.2
25
0.9
6.0
0.4
-2.6
0.6
0.8
0.8
55
13.7
4.9
0.9
3.4
6.1
42
1.6
1.0
-0.8
-12
9.3
2.8
1.0
22
75
-16.9
3.2
1.1
2.4
9.8
5.3
6.4
1.1
40
41
42
43
44
45
46
47
Miscellaneous liabilities
Investment by bank holding companies
Other
5.4
5.4
0.0
27.6
19.4
8.2
20.1
27.8
-7.6
46.2
31.6
14.6
48.8
175
31.3
43.6
40.2
35
27.2
51.8
-24.6
-64.8
35.3
-100.1
81.8
45.7
36.1
130.3
27.8
1025
-33.7
17.0
-50.6
865
52.7
33.8
45
46
47
-4.3
16.9
22.7
40.9
47.1
-185
-36.4
-782
35
37.1
-46.6
93.8
48
94.9
35.7
693
149.6
148.1
1865
178.7
222.4
227.0
118.1
805
1255
49
48
Discrepancy
Memo:
49
Credit market funds advanced (2)
(1) Included in other loans and advances (table F216).
(2) Total bank credit (line 5) less security credit (line 22) less corporate equities (line 23) less mutual fund shares (line 24) plus customers* liability on acceptances (line 25).
26
Z.1, September 12, 1996
F.lll Foreign Banking Offices in U.S. (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1
Gross saving
0.0
1991
0.4
1992
04
1993
1994
04
05
1995
0.7
------------------- 1995 ------------------Q3
Q4
Q2
Ql
04
0.7
0.7
04
------ 1996 -----Q2
Ql
04
04
1
2
Fixed nonresidential investment
IX)
14
1.7
15
2.1
24
25
25
24
25
25
24
2
3
Net acquisition of financial assets
8.0
715
65.1
33.7
485
77.7
143.1
85.7
184
635
47.1
65
3
02
-0.3
-0.3
0.3
-0.0
-0.1
-2.1
1.4
-1.1
15
-1.6
05
4
37.6
625
34.0
2.8
12.1
74.7
1565
95.4
335
132
76.6
55.3
5
6.9
5.0
1.9
0.0
2.9
13.4
9.4
4.0
0.0
3.7
11.7
8.7
2.9
0.0
1.0
13.9
65
7.4
0.0
1.4
-1.9
-35
15
0.0
5.1
43.9
29.6
14.3,
0.0
4.6
115.2
82.3
32.8
0.0
6.0
46.3
26.9
195
0.0
3.8
-3.9
-4.1
02
0.0
95
17.8
13.4
45
0.0
-0.9
29.3
22.0
7.3
0.0
-3.4
23.8
18.0
5.8
0.0
0.7
6
7
8
9
10
27.7
2.0
6.9
15.3
14
45.4
-1.0
29.3
8.8
8.4
21.3
02
9.9
-2.7
13.9
-125
-0.9
-13.7
-65
8.6
9.0
-0.2
15.1
-4.8
-12
26.2
-0.4
35.4
-5.1
-3.7
35.3
-3.9
40.7
-5.7
4.3
45.3
25
40.4
-4.7
7.0
27.8
-1.2
30.3
-3.3
2.0
-3.8
0.9
30.3
-6.8
-282
50.7
0.9
24.3
-7.7
332
30.8
-2.0
46.0
-3.6
-9.6
11
12
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
16
-5.7
-24.0
-5.6
14.9
-3.6
35.0
-4.0
34.6
-2.1
385
-2.9
6.1
1.3
-12.6
-1.8
-9.3
-5.9
-7.8
-52
53.9
0.8
-28.8
-6.3
-43.1
17
18
4
Reserves at Federal Reserve
5
Total bank credit
6
7
8
9
10
U.S. government securities
Treasury
Agency
Municipal securities
Corporate and foreign bonds
11
12
13
14
15
Total loans
Open market paper
Bank loans n.e.c.
Mortgages
Security credit
16
Corporate equities
17
18
Customers' liab. on acceptances (2)
Miscellaneous assets
•
19
Net increase in liabilities
84
72.1
65.7
345
492
784
1434
864
194
64.1
475
75
19
20
21
22
Net interbank liabilities
To foreign banks
To domestic banks
8.2
7.8
0.4
1.8
-5.6
75
32.3
49.3
-17.0
16.9
292
-12.3
11.2
25.8
-14.6
18.7
15.1
3.6
42.3
-7.4
49.7
17.9
13.3
4.6
-19.2
-9.1
-10.1
33.6
63.6
-29.9
385
-7.7
462
-72.7
-455
-27.1
20
21
22
23
24
25
Checkable deposits
Small time and savings deposits
Large time deposits
0.4
-1.0
-3.7
02
-0.1
50.1
-0.6
02
9.0
0.0
-0.8
-0.8
0.4
-1.1
2.6
-0.1
-0.7
11.0
-25
-2.3
8.9
-0.8
1.8
65
0.8
-1.2
60.7
2.1
-1.3
-32.1
-0.4
-12
17.7
0.6
-2.4
19.0
23
24
25
26
27
Federal funds and security RPs (net)
Acceptance liabilities
8.4
-0.9
8.8
-9.6
0.7
-3.8
-4.3
-5.1
6.7
-2.6
1.8
-3.1
-5.7
1.6
14.7
-1.8
0.3
-4.4
-2.2
-7.7
12.6
1.2
272
-5.7
26
27
28
29
30
31
Miscellaneous liabilities
Foreign direct investment in U.S.
Due to affiliates
Other
-3.0
0.9
-1.8
-2.0
20.9
2.6
-17.3
35.6
28.0
3.3
-8.8
335
285
3.3
2.3
22.9
32.0
4.0
13.2
14.7
50.9
5.8
3.0
42.0
1015
7.6
14.0
79.9
48.1
-0.8
12
47.7
-17.7
92
2.3
-29.2
71.6
7.4
-55
69.7
-20.6
4.0
4.0
-28.6
41.2
4.0
-2.6
39.8
28
29
30
31
-05
-05
-05
-0.7
-0.8
-0.9
-0.9
-0.9
-0.9
-0.9
-1.0
-1.0
32
28.4
485
165
-9.8
112
75.4
1535
86.6
25.6
36.1
44.2
58.6
33
32
Discrepancy
Memo:
33
Credit market funds advanced (3)
(1) Brandies and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies, and American Express Bank.
(2) Included in other loans and advances (table F.216).
(3) Total bank credit (line 5) less security credit (line IS) less corporate equities (line 16) plus customers* liability on acceptances (line 17).
27
Z.1, September 12,1996
F.112 Bank Holding Companies
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
------------------- 1995 -------------------
Q1
10
11
12
13
02
02
2
304
655
3
-5.1
5.3
4
35
15
2.1
-0.3
1.4
-2.2
-2.4
0.2
-1.4
-15
0.1
-0.1
0.2
4.8
0.3
5
6
7
8
9
58.3
45.7
-4.2
16.8
30.0
27.8
4,4
-22
35.7
17.0
14.8
3.9
60.3
52.7
115
-3.8
10
11
12
13
37.7
25.1
33
24
38.1
14
-12.0
-2.6
-9.4
9.6
6.8
2.8
40.0
44.4
-4.4
55
-65
12.0
15
16
17
0.1
0.1
0.1
02
02
02
02
02
02
02
Net acquisition of financial assets
2.1
405
45.1
262
52.7
655
615
48.7
344
-2.8
-1.5
5.6
-0.0
0.9
-0.3
-15
5.3
-9.6
4.6
-0.6
-0.2
-05
-1.9
-02
0.8
0.3
03
-05
-1.9
4.9
5.1
-02
0.3
0.4
0.1
-0.8
0.9
1.7
-1.8
1.0
-0.7
1.7
-0.1
-0.1
-1.3
-12
-0.2
0.6
0.4
-5.4
-25
-2.9
1.4
2.6
6.0
6.7
-0.8
0.3
-1.0
-9.4
-10.4
1.0
1.0
-12
-2.2
5.4
-20.8
13.2
3.6
19.4
-14.3
-1.6
34.8
27.8
2.3
4.8
45.2
31.6
13.0
05
25.3
175
0.2
7.7
53.0
40.2
82
4.6
67.0
51.8
85
6.7
56.6
35.3
24.1
-2.8
263
40.7
Credit market instruments
U.S. government securities
Treasury
Agency
Corporate and foreign bonds
Bank loans n.e.c.
Miscellaneous assets
Investment in bank subsidiaries
Investment in nonbank subsidiaries
Other
155
25.0
283
1
-45
9.0
------ 1996 -----Q2
Q1
27.7
Fixed nonresidential investment
2
5
6
7
8
9
243
Q4
105
Gross saving
4
26.0
Q3
10.7
1
3
232
Q2
233
303
14
Net increase in liabilities
-155
•83
315
293
32
15
16
17
Net interbank liabilities
To domestic banks
To foreign banks
11.4
11.0
0.4
-4.9
0.8
-5.7
3.4
-25
5.8
0.9
3.2
-2.3
-1.7
62
-7.8
-3.2
0.6
-3.8
-5.8
-02
-55
-4.8
-15
-3.3
18
Federal funds and security RPs (net)
-0.4
-0.9
0.2
0.4
-02
0.4
15
6.9
-6.1
-0.6
0.6
-0.1
18
19
20
21
Credit market instruments
Commercial paper
Corporate bonds
-27.7
-18.7
-9.0
-2.5
-5.8
3.3
2.3
-3.9
6.1
8.8
5.2
3.6
10.3
5.9
43
14.4
-1.4
15.8
16.3
-2.3
18.6
20.8
-0.9
21.8
28.2
132
15.0
-7.9
-15.7
7.8
-26.6
1.6
-28.2
28.3
155
12.7
19
20
21
22
23
24
Miscellaneous liabilities
Equity, etc.
Other
12
-1.5
2.7
0.1
52
-5.1
25.8
22.1
3.7
19.7
22.0
-2.3
-5.2
-7.6
2.4
15.3
12.7
2.6
28.6
23.7
4.9
14.8
16.1
-1.2
14.9
11.8
3.2
2.7
-0.7
3.4
-115
-185
7.0
45
15.6
-11.1
22
23
24
0.0
0.1
0.0
-0.0
-0.0
-0.0
-0.0
-0.0
-0.0
-0.0
-0.0
-0.0
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
0.1
0.1
0.1
02
02
02
02
02
02
02
02
02
1
2
Fixed nonresidential investment
02
02
02
02
02
03
03
03
03
03
03
03
2
3
Net acquisition of financial assets
45
-32
25
1.7
3.7
55
-0.1
7.7
1.1
15.1
05
24
3
4
Checkable deposits and currency
-0.1
-0.8
-05
-0.3
0.4
02
-0.9
1.0
-1.3
1.7
-0.8
0.4
4
5
Credit market instruments
45
-1.9
3.7
2.4
3.3
4.2
2.4
5.2
1.8
7.4
2.1
1.7
5
0.4
0.3
0.1
0.0
-0.0
0.4
0.3
0.1
-0.1
0.1
2.6
15
1.1
-0.0
02
1.7
15
0.2
-0.2
02
-02
-0.6
05
0.4
-0.1
15
02
1.3
0.1
-0.1
0.8
0.8
-0.0
-0.1
-0.0
2.1
2.0
0.1
-02
0.0
05
0.3
02
0.4
-1.1
2.6
-22
4.8
0.1
0.8
-15
-1.3
-0.1
0.1
-0.1
-0.3
0.8
-12
-0.0
-0.3
6
7
8
9
10
3.3
0.2
0.7
-3.0
-0.0
0.7
02
1.0
-0.2
-05
1.2
0.1
1.7
0.6
0.9
1.8
1.0
-0.0
1.1
0.3
02
22
2.0
-1.0
1.8
0.0
02
2.1
15
0.4
2.1
05
0.9
2.1
0.9
-0.6
11
12
13
0.1
-05
-0.7
-0.4
-0.1
1.6
-1.6
1.5
05
6.0
-0.8
05
14
44
-3.1
25
13
35
55
-03
74
05
142
04
23
15
-0.7
2.1
2.1
-0.2
-1.0
-1.0
0.6
0.4
0.4
0.3
-02
-02
0.1
0.8
0.8
0.2
12
12
-15
0.9
0.9
15
0.9
0.9
-0.9
0.9
0.9
1.7
2.1
2.1
-0.8
0.9
0.9
1.0
1.2
12
16
17
18
0.9
-0.9
1.1
1.4
1.8
2.9
-0.6
42
-0.1
8.2
-05
-1.1
19
-02
0.1
-02
-05
-02
-05
-0.3
-0.3
-0.2
-1.0
-0.2
-0.3
20
6
7
8
9
10
U.S. government securities
Treasury
Agency
Municipal securities
Corporate and foreign bonds
11
12
13
Bank loans n.e.c.
Home mortgages
Commercial mortgages
14
15
16
17
18
19
20
Miscellaneous assets
Net increase in liabilities
Checkable deposits
Small time and savings deposits
Large time deposits
Miscellaneous liabilities
Discrepancy
(1) Commercial banks and branches of U.S.-chartered commercial banks located in Puerto Rico, the Virgin Islands, Samoa, Guam, and other U.S.-affiliated insular areas.
28
Z.1, September 12, 1996
F.114 Savings Institutions (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1
Gross saving
2
Fixed nonresidential investment
3
Net acquisition of financial assets
4
5
6
7
Reserves at Federal Reserve
Checkable deposits and currency
Time and savings deposits
Federal funds and security RPs
8
Credit market instruments
1991
1992
1993
1994
1995
------------------- 1995 ------------------Q3
Q4
Q2
Ql
------ 1996 -----Q2
Ql
143
174
93
73
6.0
6.1
6.1
6.1
6.1
6.1
05
0.8
03
03
05
15
15
15
15
15
15
15
2
>163.1
-1883
-935
-49.0
-155
-05
115
83
283
-515
-425
-215
3
-1.1
-0.3
-0.1
-25
-05
2.0
-0.3
-6.6
0.1
-0.6
-1.3
-0.6
0.4
3.1
-0.7
-3.9
-0.6
-15
-1.8
-4.1
-0.1
1.6
-03
4.8
-1.1
-6.6
-0.9
9.2
0.4
3.9
-03
45
-0.2
05
0.3
0.8
05
8.3
0.1
4.6
-0.0
-6.9
-0.4
-0.2
-0.8
-25
-0.3
-2.7
4
5
6
7
-168.2
-158.9
-79.0
-23.4
6.8
-75
17.6
-11.4
32.0
-68.4
-20.1
5.0
8
6.1
6.1
1
9
10
11
12
Open market paper
U.S. government securities
Treasury
Agency
-0.0
-24.1
-0.9
-23.2
05
-41.5
-0.9
-40.6
-0.7
7.0
9.0
-2.0
-0.3
-15
-5.7
43
-03
115
-1.1
12.6
0.0
-4.1
-8.7
4.7
0.0
0.1
-13.8
13.8
0.6
-15.1
-93
-5.9
-0.3
12.9
0.6
12.3
-0.1
-14.1
-125
-1.6
0.1
-11.0
0.7
-11.7
0.0
-12.4
-1.6
-10.9
9
10
11
12
13
14
15
16
17
Municipal securities
Corporate and foreign bonds
Other loans and advances
Mortgages
Consumer credit
0.4
-19.3
-12.7
-995
-12.9
-0.6
-2.9
-10.6
-96.3
-75
-0.4
7.3
-10.1
-77.4
-4.8
0.1
9.1
-1.6
-29.6
05
-0.1
-2.4
-05
-2.1
0.6
-0.0
-83
25
0.6
1.6
-0.0
-75
65
22.3
-3.8
-0.0
6.7
0.7
-8.1
3.9
0.1
-6.8
1.8
195
4.8
-03
-253
0.9
-31.3
1.6
0.0
-11.8
3.6
-35
2.6
-0.4
-25.1
35
41.0
-1.8
13
14
15
16
17
-25
11.6
-1.1
-22.9
0.3
-12.8
1.7
-26.2
-1.8
-12.6
0.7
0.3
0.4
-73
1.9
9.6
0.4
-4.8
0.0
3.6
2.8
-17.7
-0.0
-20.0
18
19
18
19
Corporate equities
Miscellaneous assets
20
Net increase in liabilities
-1505
•1815
-92.1
-513
-173
-33
95
55
25.7
-53.0
-43.1
-205
20
21
22
23
24
Deposits
Checkable
Small time and savings
Large time
-120.4
-4.8
-73.7
-41.9
-112.8
17.3
-94.9
-35.3
-84.8
-1.4
-755
-7.9
-67.4
4.4
-68.1
-3.6
-51.8
-5.4
-44.4
-2.1
-5.7
14.1
-28.9
93
22.9
-4.6
15.1
12.4
-4.7
17.2
-30.4
85
-8.1
16.8
-34.8
9.9
-32.9
27.0
-65.7
5.9
-37.4
25.3
-64.1
1.4
-39.2
225
-62.3
0.7
21
22
23
24
25
Security RPs
-15.3
-22.9
-1.0
75
18.4
-0.0
0.3
25.9
21.7
-47.9
-25
-30.8
25
26
27
28
29
Credit market instruments
Corporate bonds
Bank loans n.e.c.
Other loans and advances
-30.9
-5.6
05
-25.9
-44.7
-4.1
-0.7
-39.9
-7.0
-3.2
-0.0
-3.8
11.3
-15
-05
13.3
12.8
-0.8
0.9
12.7
2.6
-0.0
5.2
-2.6
-18.9
-0.1
2.8
-21.6
-73
0.2
5.1
-12.4
5.1
0.0
4.4
0.6
315
-0.3
8.7
23.1
10.9
-0.8
2.7
9.1
403
-1.0
-1.9
43.2
26
27
28
29
30
31
32
33
Taxes payable
Miscellaneous liabilities
Investment by parent
Other
-0.2
15.9
-0.4
16.3
03
-13
-1.0
-0.2
03
05
-1.0
15
0.6
-3.8
0.4
-4.2
-0.9
3.7
-0.0
3.7
05
-0.6
0.1
-0.7
1.0
3.6
0.1
3.6
-0.3
-8.2
0.1
-8.3
1.4
5.7
0.1
5.6
-0.1
-3.7
0.1
-3.8
0.3
-145
03
-14.6
-0.8
103
03
10.0
30
31
32
33
25.6
23.4
10.1
35
2.8
2.4
2.6
1.8
1.9
3.4
4,4
6.1
34
34
Discrepancy
(1) Savings and loan associations, mutual savings banks, and federal savings banks.
29
Z.1, September 12, 1996
F.115 Credit Unions
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1.1
1992
1993
3.0
1994
2.7
1995
2.7
------------------- 1995 ------------------Q3
Q4
Q2
Qi
2.7
2.7
2.7
1
Gross saving
2
Fixed nonresidential investment
0.7
0.7
0.7
0.7
0.7
0.7
0.7
0.7
03
03
3
Net acquisition of financial assets
16.0
233
263
193
143
193
103
223
213
242
4
5
6
Checkable deposits and currency
lime and savings deposits
Federal funds and security RPs
0.0
0.4
2.1
0.6
5.0
-1.4
12
0.3
0.4
-0.1
-1.3
-5.1
0.0
-8.9
-2.3
0.9
0.4
0.2
1.6
-4.7
0.9
0.1
1.7
2.3
0.8
2.3
1.8
1.1
2.3
-4.4
7
Credit market instruments
03
\
23
2.7
------ 1996 -----Q2
Qi
2,7
2.7
1
0.7
0.7
2
443
163
3
12
83
4.4
-13
-1.0
-7.9
4
5
6
10.6
12.8
17.7
21.7
28.1
162
11.6
22.8
11.0
193
22.3
33.4
7
8
9
10
11
Open market paper
U.S. government securities
Treasury
Agency
12
4.6
-3.6
82
0.3
10.7
53
5.2
0.4
14.9
5.9
9.1
-0.7
10.3
2.6
7.7
-0.1
4.0
-03
43
-1.6 ..
1.1
-3.8
4.9
-1.9
-8.0
-33
-43
-13
8.0
-3.9
11.9
-2.4
-1.9
-1.3
-0.6
-0.6
6.3
-6.3
12.6
-0.9
11.7
9.1
2.6
-0.3
11.8
1.7
10.1
8
9
10
11
12
13
Home mortgages
Consumer credit
4.9
-0.1
3.1
-1.3
3.3
-0.9
-0.1
122
6.1
18.0
4.4
12.3
73
14.0
13
14.8
52
10.1
32
103
53
5.9
132
8.7
12
13
14
15
Mutual fund shares
Miscellaneous assets
02
2.7
1.2
5.3
13
5.8
0.1
43
-4.2
2.1
-0.0
2.2
-0.0
13
-0.0
-4.0
0.0
53
0.0
5.6
0.0
8.4
0.0
-6.1
14
15
16
Net increase in liabilities
143
21.1
21.7
133
93
134
44
153
153
173
402
113
16
17
18
19
20
Shares/deposits
Checkable
Small time and savings
Large time
13.8
13
14.4
-2.1
203
2.2
173
0.8
21.6
43
153
1.6
12.6
1.7
9.8
1.1
7.9
2.0
53
0.4
15.4
2.1
11.6
1.7
8.0
2.4
-17.1
22.7
17.8
3.0
-103
25.3
17.7
1.4
41.0
-24.7
18.1
1.6
33.2
-16.7
37.8
13
41.4
-5.1
13.0
2.9
9.6
0.4
17
18
19
20
21
22
Other loans and advanoes
Miscellaneous liabilities
0.0
0.2
0.0
0.6
0.0
0.1
02
03
02
1.4
-0.1
-1.9
-0.3
-3.4
-0.1
-1.9
0.1
-1.8
0.0
-0.6
-0.1
23
-02
-1.4
21
22
-1.9
-2.0
-32
-4.3
-32
-43
-4.6
-5.1
-3.6
-4.7
-2.7
-3.6
23
23
Discrepancy
F.116 Bank Personal Trusts and Estates (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
Net acquisition of financial assets
29.7
16.1
-7.1
13
183
-47.7
-443
-453
-633
-37.1
-473
-202
1
2
3
4
5
Deposits
Checkable deposits and currency
Time and savings deposits
Money market fund shares
3.9
0.1
02
3.6
-1.0
0.0
-4.6
3.6
-5.7
-0.1
-5.2
-0.3
-1.1
-0.1
-1.1
0.1
1.8
-0.3
1.6
0.6
1.2
0.1
-1.0
2.1
1.4
-0.1
-0.2
1.6
12
0.1
-1.1
22
1.1
0.1
-13
2.4
1.1
0.1
-1.2
22
1.1
0.1
-1.0
2.0
1.2
0.1
-1.0
2.1
2
3
4
5
6
Credit market instruments
15.9
10.0
8.0
93
7.1
-18.8
-10.8
-20.6
-23.7
-202
-18.1
-12.3
6
7
8
9
10
Open market peper
U.S. government securities
Treasury
Agency
-03
8.3
4.8
33
-52
2.9
1.7
1.2
-23
-1.6
-0.8
-0.8
-32
12
0.3
0.9
33
-1.1
-0.6
-03
02
-5.3
-3.3
-2.0
1.3
-4.0
-23
-13
0.0
-53
-33
-2.1
-0.4
-6.1
-3.8
-2.3
0.0
-5.7
-3.6
-2.1
02
-53
-33
-2.1
0.1
-5.6
-3.3
-2.3
7
8
9
10
11
12
13
Municipal securities
Corporate and foreign bonds
Mortgages
7.7
02
0.1
92
3.4
-0.1
6.1
62
-02
12.9
-1.1
-0.3
5.3
-0.4
-02
-11.1
-3.1
03
-6.0
-2.3
0.3
-12.3
-3.3
03
-14.2
-3.6
0.6
-11.8
-3.3
03
-10.3
-3.0
03
-5.1
-2.0
0.3
11
12
13
-8.6
133
-37.0
25.8
-55.2
44.9
-9.3
22.3
-17.7
-11.3
-20.1
-13.1
-12
-24.0
-302
-10.4
-19.4
2.4
-34.4
52
-12.1
4.3
14
15
14
15
Corporate equities
Mutual fund shares
03
9.7
16
Miscellaneous assets
-0.4
2.2
1.8
33
-3.1
-1.1
-1.7
-1.0
-0.7
-1.0
-1.1
-1.3
16
29.7
16.1
-7.1
13
183
-47.7
-443
-453
-633
-37.1
-473
-202
17
17
Net increase in liabilities (2)
(1) Includes personal trusts and estates administered by nondeposit noninsured trust companies.
(2) Equal to the net acquisition of financial assets. These liabilities are assets of the household sector.
30
Zl, September 12, 1996
F.117 Life Insurance Companies
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
Ql
1
Gross saving
2
Fixed nonresidential investment
3
Net acquisition of financial assets
4
5
Checkable deposits and currency
Money market fund shares
6
Credit market instruments
------- 1995 --------Q2
Q3
Q4
------ 1996 -----Q2
Ql
-53
-14
-6.1
-93
-103
-10.1
-12.1
-11.7
-64
-10.1
-5.7
•6.7
1
62
5.7
6.1
6.4
6.7
63
64
63
74
74
72
72
2
112.1
1163
964
143.0
1143
144.1
1663
161.0
1214
127.1
423
1114
3
-0.1
11.9
03
6.9
-0.6
5.3
0.3
02
0.6
-14.7
0.6
102
0.9
4.9
03
16.0
0.1
4.0
1.1
16.0
-02
9.6
0.2
14.9
4
5
1072
863
783
100.9
66.3
992
1352
1353
72.9
53.3
48.7
1172
6
7
8
9
10
Open market paper
U.S. government securities
Treasury
Agency
2.9
26.7
6.3
20.3
0.0
61.0
18.6
42.4
-23
37.9
102
27.7
3.6
47.7
20.1
27.6
5.9
8.4
-2.9
11.3
-72
9.8 .
1.0
8.7
1.9
48.4
16.3
32.1
-3.7
9.8
2.4
7.3
5.2
14.1
0.3
13.9
-32.3
-33.3
-14.9
-18.3
26.3
-24.2
-9.1
-15.0
-1.6
6.3
0.7
5.6
7
8
9
10
11
12
13
14
Municipal securities
Corporate and foreign bonds
Policy loans
Mortgages
3.3
563
4.1
13.6
-2.1
25.4
48
-2.6
1.1
55.0
5.7
-18.6
32
58.3
5.7
-17.6
-1.9
59.9
7.8
-13.7
-0.9
90.7
10.4
-33
-4.4
83.8
62
-0.6
5.7
116.2
6.7
0.8
-1.8
36.1
9.3
10.0
-32
126.8
19.6
-24.3
1.8
38.0
7.4
-03
2.7
107.8
6.8
-4.7
11
12
13
14
-5.7
12.6
93
83
2.7
18.7
31.8
10.9
63.3
-163
26.0
6.1
6.8
6.3
12.6
4.0
42.6
4.0
42.2
10.0
-11.4
8.4
-23.9
13.1
15
16
15
16
17
18
Corporate equities
Mutual fund shares
Miscellaneous assets
Net increase in liabilities
-13.8
4.4
-8.0
-1.0
15.7
1.9
12.3
-73
-1.9
4.6
-12.8
-9.8
17
1104
96.7
103.1
1252
1202
122.4
1454
1422
943
1074
503
1043
18
19
20
21
Other loans and advances
Life insurance reserves
Pension fund reserves (1)
0.0
25.3
95.9
0.0
25.6
46.4
0.0
27.7
76.7
02
35.7
86.3
0.3
34.3
712
-0.1
44.8
66.7
-0.0
51.8
62.1
0.1
56.4
69.0
-0.1
34.1
64.1
-0.4
37.0
71.6
23
21.1
442
0.3
69.8
323
19
20
21
22
23
Taxes payable
Miscellaneous liabilities
-0.1
-10.8
-0.0
24.7
0.8
-2.1
0.6
2.4
0.1
142
-0.3
11.3
-0.1
32.0
-0.2
16.9
-0.3
-33
-0.4
-0.3
-03
-16.4
-0.6
2.9
22
23
-132
-26.9
-5.7
-34.1
-12.1
-38.6
-39.7
-37.3
-40.9
-36.6
-43
-20.8
24
23
52
-0.7
6.0
6.1
62
1
24
Discrepancy
(1) Excludes unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 23).
F.118 Other Insurance Companies
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
12
-33
24
22
23
23
24
23
24
23
23
23
24
24
2
264
252
94
31.7
27.0
353
34.7
32.0
354
392
383
383
3
03
32
-1.1
-4.1
0.2
5.6
-0.4
-0.9
-02
-2.3
-0.2
8.1
-0.2
8.1
-0.2
8.1
-0.2
8.1
-0.2
8.1
-0.2
8.1
-0.2
8.1
4
5
Gross saving
-0.1
3
Net acquisition of financial assets
4
5
Checkable deposits and currency
Security RPs
6
Credit market instruments
2
113
-12
33
26.4
30.0
6.7
27.7
24.9
213
20.8
20.9
21.9
22.3
23.6
23.7
6
7
8
9
U.S. government securities
Treasury
Agency
13.8
7.8
5.9
33.6
23.9
9.7
2.3
2.6
-0.3
15.4
14.2
1.3
11.0
9.4
1.6
2.8
03
2.3
2.6
0.1
2.4
2.9
0.8
22
2.7
0.6
2.1
2.8
0.3
23
2.9
03
2.4
3.0
0.4
2.6
7
8
9
10
11
12
Municipal securities
Corporate and foreign bonds
Commercial mortgages
1.8
10.4
0.4
-10.7
7.4
-0.4
6.3
-12
-0.6
10.4
3.3
-1.4
7.4
7.2
-0.7
7.0
12.7
-1.0
62
13.0
-1.0
6.6
12.4
-1.0
73
12.7
-1.0
7.7
12.7
-0.9
8.1
13.6
-1.0
8.1
13.6
-1.0
10
11
12
-7.0
2.0
1.4
-12
1.9
-0.3
-0.4
-0.1
-2.7
0.8
1.7
2.8
1.1
2.2
1.1
-13
4.4
3.0
-13
4.4
3.0
-13
4.4
0.3
-13
4.4
2.7
-13
4.4
6.1
-12
4.4
4.1
-1.2
4.4
4.0
13
14
15
13
14
15
Corporate equities
Trade receivables
Miscellaneous assets
16
Net increase in liabilities
292
173
284
233
224
60.1
583
633
603
573
62.0
593
16
17
18
19
Corporate equity issues
Taxes payable
Miscellaneous liabilities
2.8
-0.1
263
1.9
0.0
153
53
0.3
23.1
7.4
02
15.8
63
0.1
15.9
7.1
-0.0
53.1
7.1
0.0
51.4
7.1
-0.0
56.4
7.1
-0.1
533
7.1
-0.1
50.9
7.0
-0.1
55.1
7.0
-0.1
52.9
17
18
19
02
-8.7
13.9
0.8
-8.1
25.6
23.9
342
21.9
22.2
26.7
243
20
20
Discrepancy
31
Z.1, September 12,1996
F.119 Private Pension Funds (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1
Gross saving
13
1991
13
1992
2.1
1993
13
1994
1.7
1995
14
------------------- 1995 ------------------Q3
Q2
Q4
Ql
14
14
14
1.7
------ 1996 -----Q2
Ql
14
14
1
2
Fixed nonresidential investment
75
63
75
73
8.0
82
8.1
82
83
83
84
84
2
3
Net acquisition of financial assets
585
675
764
76.7
803
91.7
113.0
1215
49.0
833
43.0
733
3
4
5
6
7
Checkable deposits and currency
Time and savings deposits
Money market fund shares
Security RPs
-0.8
-9.3
-0.0
0.3
-0.3
05
1.0
5.4
-0.0
-22.4
15
2.1
-0.1
-7.9
65
6.6
-0.1
-6.6
45
10.2
-0.1
-11.0
1.2
-0.3
-0.1
-85
3.8
-05
-0.1
-2.8
-4.6
-4.8
-0.1
-21.1
55
35
-0.1
-11.7
0.3
05
-0.1
18.9
72
122
-0.1
-7.1
1.2
10.1
4
5
6
7
8
Credit market instruments
54.0
35.4
41.1
45.9
47.0
61.3
58.9
572
505
785
65.8
84.3
8
9
10
11
12
Open market paper
U.S. government securities
Treasury
Agency
0.3
38.4
24.6
13.7
5.4
20.6
13.8
6.9
2.1
19.0
12.9
6.1
6.6
16.0
10.9
5.1
102
13.4
95
3.9
-0.3
27.0
17.4
9.6
-05
27.6
185
9.1
-4.8
27.6
17.6
10.0
35
19.2
125
6.7
05
335
20.9
12.6
122
19.9
12.6
7.3
10.1
29.0
17.9
11.0
9
10
11
12
13
14
15
Municipal securities
Corporate and foreign bonds
Mortgages
-0.0
152
0.1
0.1
155
-6.2
-0.0
23.7
-3.7
0.0
22.7
0.6
0.0
22.3
1.1
0.1
33.6
1.0
0.1
30.8
0.9
0.1
33.3
1.0
0.0
27.4
0.4
0.1
42.8
1.6
0.0
31.3
2.3
0.1
43.7
15
13
14
15
16
17
Corporate equities
Mutual fund shares
-15
1.7
4.7
6.2
32.3
10.2
9.2
22.7
-14.7
22.9
-0.1
28.1
195
21.7
15.0
29.8
-19.6
30.1
-155
30.8
-98.0
63.3
■114.4
75.7
16
17
18
19
20
21
Miscellaneous assets
Unallocated insurance contracts (2)
Contributions receivable
Other
14.2
-6.6
-2.3
23.0
14.7
13.1
3.7
-2.2
11.7
-13.9
2.0
235
-6.1
-11.8
3.1
2.6
17.7
4.8
32
9.7
12.7
-6.4
3.2
15.9
18.1
-2.6
3.2
17.6
31.8
-8.1
3.2
36.7
02
-7.6
32
4.6
0.6
-72
3.2
4.6
-26.4
-13.9
3.2
-15.7
242
-85
32
295
18
19
20
21
22
Pension ftind reserves (liabilities) (3)
64.1
725
813
82.7
872
983
1194
128.1
55.7
90.0
493
803
22
(1) Includes the Federal Employees* Retirement System Thrift Savings Plan.
(2) Assets of private pension plans held at life insurance companies (e.g., OICs, 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.
F.120 State and Local Government Employee Retirement Funds
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
Net acquisition of financial assets
613
533
52.7
504
613
61.0
59.4
595
644
603
665
60.1
1
2
3
4
Checkable deposits and currency
Time and savings deposits
Security RPs
15
-1.7
2.1
0.1
0.1
4.3
0.8
-1.8
2.9
0.7
2.6
0.2
-0.6
-3.0
75
-2.1
-1.2
-15
0.4
-2.8
6.0
-3.8
-1.0
65
0.1
-32
-112
-5.1
2.4
-72
1.6
-2.3
-0.9
-2.0
-2.4
11.1
2
3
4
5
Credit market instruments
32.8
41.1
23.0
19.8
29.0
21.4
59.4
4.6
2.7
18.9
555
76.1
5
2.1
27.1
17.6
95
4.3
18.8
13.7
5.2
2.9
0.8
45
-3.7
0.2
115
15.9
-4.4
75
15.9
8.3
7.6
-15
24.6
8.0
16.6
5.2
36.2
17.3
18.8
9.7
-0.3
-11.0
10.8
-13.7
245
23.5
1.0
-7.0
37.9
2.1
35.9
-1.9
36.7
21.1
15.7
9.9
382
4.9
33.3
6
7
8
9
0.1
2.8
0.8
-0.1
172
0.8
02
195
-0.4
0.2
9.8
-1.9
-0.3
5.3
0.7
0.1
-2.6
0.7
-0.1
17.4
0.8
-0.1
-5.3
0.6
0.1
-8.9
0.8
0.7
-135
0.8
-05
205
0.8
1.1
26.0
0.8
10
11
12
12.3
14.9
29.4
-212
16.7
11.1
48.0
-205
18.0
10.9
38.3
6.1
56.5
-60.0
32.3
20.6
52.8
23.4
11.6
40.3
48.6
-35.4
31.1
-53.7
13
14
615
533
52.7
504
613
613
594
595
644
603
663
60.1
15
6
7
8
9
10
11
12
13
14
15
Open market paper
U.S. government securities
Treasury
Agency
Municipal securities
Corporate and foreign bonds
Mortgages
Corporate equities
Miscellaneous assets
Pension ftind reserves (liabilities) (1)
(1) Equal to the net acquisition of financial assets. These liabilities are assets of the household sector.
32
Z.1, September 12, 1996
F.121 Money Market Mutual Funds (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1994
1993
1995
------------------- 1995 ------------------Q2
Q3
Q4
Ql
------ 1996 -----Q2
Ql
1
Net acquisition of financial assets
684
414
45
202
435
1425
742
221.1
1225
151.1
244.0
4.1
1
2
3
4
5
Foreign deposits
Checkable deposits and currency
Time and savings deposits
Security RPs
0.6
11.1
-21.1
3.9
-5.3
-115
13.2
8.8
-12
-2.4
-05
-1.0
-10.3
1.4
-2.8
0.4
5.7
-1.3
-05
2.4
4.0
-1.0
20.9
19.0
-3.0
-16.4
40.3
-10.0
1.4
18.1
4.9
342
232
-2.1
57.7
15.4
-5.6
-35
-19.1
36.6
6.1
2.3
17.1
10.1
-28.3
0.8
-8.1
7.0
2
3
4
5
6
Credit maricet instruments
775
32.7
4.7
20.4
30.0
865
56.4
134.4
30.0
125.1
175.0
18.4
6
7
8
9
10
Open maricet paper
U.S. government securities
Treasury
Agency
195
45.9
302
15.6
-13.4
37.6
33.4
42
-17.0
13.8
02
13.6
-9.1
14.5
1.0
135
22.7
-3.9
-13.3
9.4
48.4
175
3.8
13.7
50.2
1.3
9.9
-8.7
65.3
40.2
-12.6
52.8
18.1
-11.1
15.8
-26.9
59.7
39.6
22
37.4
31.4
96.0
744
21.6
43.1
-24.6
2.0
-26.6
7
8
9
10
11
12
Municipal securities
Corporate and foreign bonds
13.9
-1.7
6.6
1.8
5.4
25
9.6
5.4
7.8
3.4
14.3
6.4
5.0
-0.1
22.4
6.4
147
8.3
15.0
10.8
352
12.4
-1.8
1.6
11
12
-35
3.7
5.0
11.0
6.9
12.8
6.8
28.1
-12
17.6
33.4
144
13
684
414
45
202
435
1425
742
221.1
1225
151.1
244.0
4.1
14
13
14
Miscellaneous assets
Net share issues
•
(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.l 17).
F.122 Mutual Funds (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
Grass saving
-92
-135
-18j6
-31.7
-285
-265
-28.0
-28.0
-25.0
-25.0
-22.7
-215
1
2
Net acquisition of financial assets
53.7
1335
1905
292.0
1004
1474
56.1
137.0
177.0
2195
2645
3165
2
1.4
6.1
9.7
16.8
4.4
7.1
-85
-22
8.0
31.1
-30.8
-5.9
3
36.2
80.1
126.2
1595
-7.1
525
-13.4
23.4
58.0
141.9
675
82.1
4
Open market paper
U.S. government securities
Treasury
Agency
3.7
13.8
75
6.4
-16.3
40.9
22.4
185
9.7
56.8
36.0
20.8
16.8
492
31.4
17.9
44
-10.4
-6.8
-3.6
7.1
18.9
112
7.7
-11.8
12
0.7
05
-4.7
0.7
0.4
0.3
2.7
25.0
148
102
42.2
48.7
28.8
20.0
-344
54.9
32.4
225
-8.4
48.2
285
19.8
5
6
7
8
Municipal securities
Corporate and foreign bonds
13.9
272
28.4
28.7
31.0
42.9
50.6
-4.3
32
32
-2.6
29.9
27.6
162
34.7
7.8
23.3
-3.6
0.8
2.8
4.7
392
1.8
405
9
10
14.4
1.7
485
-0.7
59.8
-52
115.3
0.3
100.8
25
87.4
05
79.0
-0.9
109.1
6.8
108.2
2.8
53.3
-6.7
233.4
-52
237.8
2.3
11
12
625
1472
209.1
323.7
1285
1735
84.1
165.0
202.0
2445
2874
3382
13
8.1
145
22.2
36.1
30.0
546
255
22.6
342
136.1
28.6
33.8
14
04
04
24
1
2
3
Security RPs
4
Credit maricet instruments
5
6
7
8
9
10
11
12
13
Corporate equities
Miscellaneous assets
Net share issues
Memo:
14
Capital gains dividends
(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.l 17).
F.123 Closed-End Funds
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
2
3
4
5
6
7
Net acquisition af financial asssets
Credit maricet instruments
U.S. government securities
Municipal securities
Corporate and foreign bonds
Corporate equities
Net share issues
14
144
182
134
05
35
14
44
84
1.3
12.8
18.2
11.0
-55
5.8
35
6.4
8.4
5.0
-12
3.8
0.2
2.0
-0.9
3.1
11.3
-1.6
1.7
14.3
22
2.3
42
44
-7.6
7.7
-5.6
2.0
5.6
-1.7
0.1
65
-3.1
3.6
62
-3.4
2.7
5.8
-0.1
1.6
3.8
-0.4
-12
0.0
0.0
-2.0
48
1.0
3
4
5
0.1
1.8
-0.0
2.0
6.4
-2.3
-2.1
-2.4
-0.4
-4.4
2.0
-1.0
6
1.4
144
182
13.0
05
35
14
44
84
04
04
24
7
33
Z.1, September 12,1996
F.124 Government-Sponsored Enterprises (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
------------------- 1995 ------------------Ql
Q2
Q3
Q4
------ 1996 -----Q2
Ql
23
3.1
23
43
54
33
43
35
85
33
45
94
35
8.9
35
9.7
35
95
33
93
10.1
35
102
1
2
Net acquisition of financial assets
23.1
19.1
552
793
149.0
114.7
51.0
152.7
' 111.7
1435
454
1135
3
Checkable deposits and currency
Federal funds and security RPs
-02
6.9
-0.9
-1.1
-0.0
-1.0
0.9
-162
-0.9
35.4
02
205
0.0
26.1
1.3
44.3
-25
16.7
2.1
-5.1
-2.1
-92
-12
3.1
4
5
6
7
8
9
10
11
12
Credit market instruments
Open market paper
U.S. government securities
Treasury
Agency
Municipal securities
Corporate and foreign bonds
14.0
05
27.0
21.3
5.6
0.8
0.0
15.1
7.1
29.3
182
11.1
-0.7
0.0
68.8
2.7
302
17.9
12.3
02
0.0
902
-1.7
112
-7.1
18.4
-0.6
11.1
119.1
14.4
63.4
0.4
63.1
0.8
85
88.9
-0.8
63.4
6.1
57.4.
1.0
55
21.9
9.9
24.4
48
19.6
-25
8.5
93.0
-13.2
865
-0.8
87.3
-0.9
8.4
50.0
12.0
192
15
17.7
2.0
-14.1
1905
-12.0
123.6
18.7
104.9
55
19.1
39.4
10.0
26.9
-29.1
55.9
-1.9
-7.6
134.6
3.6
64.7
10.4
54.3
05
-15
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
Other loans and advances
Sallie Mae
Farm Credit System
FHLB loans
Mortgages
Home
Multifamily residential
Farm
Miscellaneous assets
-19.9
42
05
-24.7
5.7
5.3
12
-0.9
2.4
-322
3.0
2.8
-38.0
11.7
10.9
1.4
-05
6.0
3.7
15
1.4
0.8
32.1
305
1.6
-0.1
-12.6
265
1.8
1.4
23.3
43.7
42.2
1.7
-0.2
3.4
272
3.6
0.8
22.8
4.8
3.9
0.9
0.1
-4.6
122
1.9
3.9
6.4
7.6
6.9
0.8
-0.1
52
-14.4
3.3
5.9
-23.6
-4.1
-3.2
1.0
-1.9
2.9
7.6
5.9
-0.4
14.1
12.9
2.1
45
6.3
18.1
16.7
0.9
0.6
475
425
-3.7
55
40.6
11.8
9.7
1.0
1.0
-43.9
65
2.1
8.0
-3.6
55
3.0
0.7
1.7
172
565
3.8
-1.6
54.3
10.9
92
-0.1
1.8
-22.7
13
14
15
16
17
18
19
20
21
214
165
52.7
75.7
1473
1134
47.7
1505
1114
1425
424
1125
22
17.0
17.1
-0.1
4.6
9.1
92
-0.0
7.8
402
40.3
-0.0
125
80.6
80.6
0.0
-4.9
172.1
176.9
-48
-24.9
106.9
106.9
0.0
6.1
62.9
62.9
0.0
-152
1272
1272
0.0
23.1
1015
1015
0.0
9.9
136.1
136.1
0.0
6.4
37.4
37.4
0.0
52
132.9
132.9
0.0
-20.0
23
24
25
26
-3.1
-3.4
-5.0
-62
-6.7
-75
-8.3
-8.3
-6.4
-7.0
-9.0
-72
27
1
2
Gross saving
Fixed nonresidential investment
3
4
5
22
23
24
25
26
27
Net increase in liabilities
Credit market instruments
GSE issues (2)
U.S. government loans
Miscellaneous liabilities
Discrepancy
22
46
45
0.3
-02
33
(1) Federal Home Loan Banks, Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Student Loan Marketing Association (Sallie Mae), Farm Credit System,
the Financing Corporation, and the Resolition Funding Corporation.
(2) Such issues are classified as U.S. government securities.
F.125 Federally Related Mortgage Pools (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
Net acquisition of financial assets
1505
1364
1154
834
1165
982
235
695
1262
1735
1065
169.1
1
2
3
4
Home mortgages
Multifamily residential mortgages
Farm mortgages
147.3
3.0
-0.0
139.3
-2.6
-0.0
117.8
-25
-0.0
85.0
-1.4
-0.0
1165
-0.0
-0.0
93.7
45
-0.0
24.7
-0.9
-0.0
62.7
6.6
0.0
122.9
35
0.0
164.7
8.9
-0.0
102.8
3.6
0.0
164.6
45
0.0
2
3
4
1505
1364
1154
834
1165
982
235
695
1262
1735
1065
169.1
5
5
Net increase in pool securities (liabilities)(2)
(1) GNMA. FNMA, FHLMC, and Farmers Home Administration pools. Also includes federally related pools that are used as collateral for federally related agency-issued 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 U.S. government securities.
F.126 Issuers of Asset-Backed Securities (ABSs)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
2
3
4
5
6
7
8
9
10
11
12
Net acquisition of financial assets
605
54.0
585
835
685
1325
674
1132
1664
1835
1324
1272
1
Agency securities (1)
Loans to business
Mortgages (2)
Home
Multifamily residential
Commercial
Consumer credit
Trade credit
5.1
3.8
125
11.6
0.3
0.7
302
8.7
-19.8
3.0
40.9
36.6
3.0
1.3
25.9
4.1
-27.7
2.8
60.6
492
2.6
8.7
18.0
48
15.6
10.0
45.6
32.9
2.4
10.3
9.6
25
2.6
42
38.3
20.8
6.2
11.3
16.7
6.7
15
6.8
37.1
202
6.4
10.6
66.6
20.7
-8.4
4.7
21.1
13.7
3.3
42
38.1
12.0
-4.0
95
344
192
6.2
9.1
61.0
12.3
26.6
4.4
335
20.1
65
7.0
89.9
11.9
-8.2
8.8
595
27.8
95
222
77.3
465
95
2.7
46.7
19.0
12.8
14.9
535
19.9
17.6
10.4
30.6
8.0
8.9
13.7
60.7
8.0
2
3
4
5
6
7
8
9
Net increase in liabilities
605
544
585
835
685
1325
674
1132
1664
1835
1324
1272
10
15.7
44.6
7.3
46.7
8.6
49.9
4.6
78.7
95
59.0
37.3
955
21.7
45.9
222
91.0
215
144.9
83.8
100.1
35.9
96.4
18.4
108.8
11
12
Commercial paper
Corporate bonds
(1) Federally related mortgage pool securities backing privately issued CMOs.
(2) Mortgages backing privately issued pool securities and privately issued CMOs.
34
Zl, September 12, 1996
F.127 Finance Companies (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1
Grass saving
73
1991
83
1992
103
1993
204
1994
113
1995
7.7
------------------- 1995 ------------------Q2
Q3
Q4
QI
63
93
3.7
103
------ 1996 ---- Q2
QI
103
103
1
2
Fixed nonresidential investment
63
6.0
7.0
73
83
9.0
83
83
9.1
9.1
94
94
2
3
Net acquisition of financial assets
403
223
5.1
194
80.7
903
1313
953
334
1023
52.0
613
3
4
Checkable deposits and currency
1.1
13
1.3
0.4
0.4
0.4
0.4
0.4
0.4
0.4
0.4
0.4
4
5
6
7
8
Credit market instruments
Other loans and advances
Mortgages
Consumer credit
293
233
123
-6.4
-93
2.0
0.9
-12.1
73
53
5.1
-33
-9.0
-6.7
-03
-1.8
683
43.0
6.8
18.4
643
38.3
8.1
17.8
85.1
62.7
9.1
13.2
67.2
33.3
10.4
23.6
50.8
243
11.1
153
53.7
32.7
1.9
19.2
40.9
243
9.8
6.6
38.9
6.4
16.2
16.4
5
6
7
8
9
Miscellaneous assets
9.7
30.3
-3.7
28.0
12.1
26.3
46.4
27.9
-17.8
48.7
10.7
22.4
9
313
213
23
15.1
763
794
116.1
843
254
913
364
513
10
54,3
2.3
503
1.4
47.1
16.3
26.7
4.1
54.8
2.1
413
11.2
11
12
13
14
10
Net increase in liabilities
11
12
13
14
Credit market instruments
Open market paper
Corporate bonds
Bank loans n.e.c.
23.8
4.6
15.3
4.0
17.7
-5.8
123
11.3
-1.6
-3.1
6.1
-4.6
03
2.7
9.7
-12.3
503
25.4
29.0
-43
51.6
-0.1
49.7
1.9
803
0.9
77.6
1.7
52.0
9.4
39.8
2.8
19.8
-12.8
31.0
1.6
15
16
17
18
19
Taxes payable
Miscellaneous liabilities
Foreign direct investment in U.S.
Investment by parent
Other
03
7.8
-33
2.4
8.9
-0.1
3.7
1.3
-23
4.6
0.2
43
2.8
4.0
-2.6
03
14.7
193
3.3
-8.1
03
25.9
23
8.3
15.4
03
27.6
10.1
11.3
6.3
03
35.7
-0.7
5.9
303
03
32.3
-5.4
19.9
17.7
03
5.4
39.8
6.3
-40.8
-7.1
1.7
13
8.3
-13
-12.8
-17.7
-10.4
20
Discrepancy
0.2
03
0.2
37.1
-10.9
-3.1
63
12.9
17.7
20.8
0.1
-31.8
3.6
-5.2
-13
15
16
17
18
19
-13.4
-9.9
-143
-8.7
20
(1) Includes retail captive flnanee companies.
F.128 Mortgage Companies
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
2
3
4
5
6
7
Net acquisition of financial assets
Home mortgages
Multifamily residential mortgages
Commercial mortgages
-03
-0.9
1.0
-0.0
Net increase in liabilities
Bank loans n.e.c.
Investment by parent
-0.0
0.0
113
0.1
-0.0
-223
-34
-144
293
73
-364
513
-164
1
11.3
-0.1
0.0
-0.4
0.3
0.3
-03
0.1
0.3
-22.9
0.0
0.0
-43
1.1
0.0
-14.8
0.3
0.0
29.7
02
0.0
6.2
1.1
0.0
-39.2
2.8
0.0
50.9
0.1
0.0
-18.0
1.6
0.0
2
3
4
113
0.1
-03
-22.9
-34
-144
293
73
-364
513
-164
5
-2.4
13.6
8.0
-7.9
0.0
-0.1
-113
-113
0.4
-3.8
-7.4
-7.0
14.8
15.1
4.0
3.3
-10.0
-26.4
10.0
41.0
16.0
-32.4
6
7
F.129 Real Estate Investment Trusts (REITs)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
Grass saving
2
3
Fixed nonresidential investment
Multifbmily residential investment
4
Net acquisition of financial assets
5
6
7
Mortgages
Miscellaneous assets
Net increase in liabilities
-0.1
-03
-03
03
23
23
23
23
23
23
23
23
1
13
02
13
02
33
04
53
03
19.7
22
74
03
73
03
73
03
73
03
73
03
73
03
73
03
2
3
-2.1
03
-02
33
43
43
3.7
43
43
43
43
4.7
4
-0.7
-13
-0.7
13
1.1
-12
0.6
3.0
4.7
-0.1
1.8
23
1.8
1.9
1.8
2.8
1.8
2.8
1.9
2.6
1.9
2.9
1.7
3.0
5
6
1.1
43
4.7
184
31.7
152
12.0
193
143
14.9
143
173
7
8
9
10
11
12
13
Security RPs
Credit market instruments
Open market paper
Corporate bonds
Bank loans n.e.c.
Mortgages
0.0
0.8
-02
0.1
0.3
0.6
0.0
12
-0.0
0.1
0.6
03
1.9
0.3
-0.0
1.0
-1.3
0.6
2.1
3.4
-0.3
0.3
-0.2
3.6
4.7
13.7
-0.6
2.0
23
9.8
12
5.4
-0.0
2.1
-2.0
5.3
1.2
52
-0.0
2.1
-2.1
52
12
5.2
-0.0
2.1
-2.1
52
12
52
-0.0
2.1
-2.1
5.2
1.2
6.0
0.0
2.3
-1.9
5.6
12
5.9
0.0
2.3
-1.9
53
1.3
63
0.0
23
-1.7
5.8
8
9
10
11
12
13
14
15
Corporate equity issues
Miscellaneous liabilities
1.3
-0.9
1.6
1.6
2.0
0.6
12.9
-0.1
10.3
2.9
7.3
12
4.8
0.8
112
1.7
6.4
1.7
6.8
0.8
6.2
1.3
9.2
0.6
14
15
12
13
0.3
9.0
7.2
4,9
23
8.9
4.1
4.3
3.7
63
16
16
Discrepancy
35
Z.1, September 12,1996
F.130 Security Brokers and Dealers
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
-3.7
1992
-2.7
1993
-14
1994
1995
-14
------------------- 1995 ------------------Q4
Ql
Q2
Q3
-1.0
-1.0
1
Gross saving
2
Fixed nonresidential investment
04
04
04
04
04
04
04
04
04
04
3
Net acquisition of financial assets
254
704
492
97.0
-24.1
1134
694
794
48.0
256.4
4
Checkable deposits and currency
04
-0.1
02
1.9
-0.3
1.7
8.4
-3.4
6.1
-4.2
5
Credit market instruments
2.8
174
-1.3
14.8
-44.2
90.1
304
1462
-1.8
0.6
5.4
-14.2
19.6
0.8
-4.0
-4.4
8.4
-1.6
10.0
1.6
12.0
12
-14.4
-13.3
-1.0
1.9
10.0
-0.3
-12.8
-20.7
7.8
5.8
22.2
-3.7
-302
-14.4
-15.8
-1.7
-8.7
10.9
70.0
61.0
9.0
-2.7
12.0
224
532
532
0.0
-184
-26.7
24
1054
1174
-12.0
34
34.7
-3.3
-3.7
29.4
2.4
16.3
34.3
-0.6
-1.6
52.6
8.1
22.6
49.6
-3.4
-1.1
24.8
7.7
34
10.3
12
-22.7
52.1
6
7
8
9
10
11
12
13
14
Open market paper
U.S. government securities
Treasury
Agency
Municipal securities
Corporate and foreign bonds
Corporate equities
Security credit
Miscellaneous assets
4)4
-04
-1.0
-1.0
------ 1996 -----Q2
Ql
-IjO
-1.0
1
04
04
2
54
-264
3
-3.3
6.1
4
185.6
-109.0
-75.9
5
18.7
-12.7
-28.7
16.0
-9.6
1.7
-0.3
133.8
101.8
32.0
13.7
38.3
-21.2
-68.2
-522
-16.0
-15.4
-4.1
10.7
-86.3
-79.9
-6.4
-0.4
-0.0
6
7
8
9
10
11
0.9
-2.7
-61.3
4.7
34.7
4.3
24.2
4.9
45.9
-32.4
42.1
107.8
112
2.6
29.4
12
13
14
15
Net increase in liabilities
25.9
74.1
514
984
-23.1
1144
71.1
804
49J
2574
6.7
-254
15
16
17
18
Security RPs (net)
Corporate bonds
Corporate equity issues
16.8
14
3.4
25.7
3.7
-5.7
24.0
2.7
-1.9
20.0
12.0
1.3
-23.0
04
4.7
79.0
-5.0
-8.1
86.3
-294
-5.4
35.0
-0.1
-94
28.0
2.1
-134
166.7
7.7
-4.2
-39.1
-31.8
-5.1
3.9
13.1
-4.3
16
17
18
19
20
21
22
23
Trade payables
Security credit
Customer credit balances (HH)
From benks
Taxes payable
-1.9
72
9.2
-2.0
0.1
0.7
35.2
24.6
10.6
0.2
0.6
62
-10.8
16.9
0.0
2.7
38.7
26.0
12.7
04
-0.9
1.0
6.7
-5.7
-0.2
1.1
23.1
18.6
4.6
-0.1
-0.6
17.3
15.8
14
0.3
1.3
32.8
1.1
31.6
0.3
2.7
-2.4
6.9
-92
0.0
1.1
44.8
504
-5.7
-0.9
5.4
784
534
25.1
-02
54
-50.9
-26.4
-244
04
19
20
21
22
23
24
25
26
27
Miscellaneous liabilities
Foreign direct investment in U.S.
Due to affiliates
Other
5.0
0.1
-11.0
15.9
4.0
2.0
-10.9
12.9
12.9
-0.2
28.7
-15.6
15.7
0.2
27.4
-11.9
1.3
04
23.6
-22.8
112
0.1
24.1
-13.0
-11.3
0.4
46.1
-57.8
10.2
0.1
10.1
0.0
13.1
0.3
18.6
-5.8
32.7
-0.5
214
11.7
-15.8
0.2
21.1
-37.0
2.4
0.2
90.9
-88.7
24
25
26
27
28
Proprietors' net investment
-6.2
10.4
7.4
7.4
-6.4
13.4
14.1
10.8
19.2
9.4
14.7
44
28
-0.6
-04
-04
-0.9
-0.4
-0.6
-02
-0.7
-0.6
-1.0
-0.4
-0.6
29
29
Discrepancy
F.131 Funding Corporations (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
Net acquisition of financial assets
134
174
514
-54
48.8
324
94.1
-44
32.0
8.0
214.4
119.0
1
2
Money market fund shares
16.1
15.8
234
10.1
31.8
2.4
14.4
-8.6
-54
9.1
32.4
104
2
3
4
5
Credit market instruments
Open market paper
Corporate and foreign bonds
-6.3
-6.3
0.0
8.2
82
0.0
17.7
17.7
0.0
-34.9
-38.9
4.0
-124
-22.2
10.0
9.1
-0.6
9.8
32.1
32.1
0.0
-8.3
-16.3
8.0
5.7
-10.3
16.0
7.0
-8.0
15.0
130.6
1064
24.1
66.4
94
56.9
3
4
5
6
7
8
Miscellaneous assets (2)
Investment in foreign banking offices
Investment in brokers and dealers
3.6
-1.8
5.4
-6.6
-17.3
10.7
10.4
-8.8
194
194
2.3
174
29.3
134
16.1
20.8
3.0
17.8
47.6
14.0
33.6
12.4
1.2
114
31.6
2.3
29.3
-8.1
-54
-2.6
51.4
4.0
47.4
42.0
-2.6
44.6
6
7
8
134
174
514
-54
484
324
94.1
-44
32.0
8.0
2144
119.0
9
15.4
124
2.9
-64
-134
6.9
13.2
14
11.7
2.9
-10.7
13.6
244
4.2
20.0
32.0
7.6
24,4
624
9.8
52.7
26.4
4.3
22.1
39.4
22.9
16.4
-0.4
-6.7
6.4
31.6
-39.6
71.1
86.6
72.9
13.6
10
11
12
-2.0
-11.8
32.1
-22.4
23.8
-0.1
314
-7.6
38.4
-2.8
50.6
-9.4
-8.3
16.6
43.6
-68.4
24.7
5.1
24.6
-5.0
0.4
-11.1
-54
17.0
31.6
-14.9
47.0
-30.9
-14.0
-75.1
58.3
-7.4
-7.8
-114
11.9
8.4
-7.7
17.7
-1.6
182.8
19.9
105.6
57.3
32.4
-444
30.1
46.8
13
14
15
16
9
Net increase in liabilities
10
11
12
Credit market instruments
Open market paper
Corporate bonds
13
14
15
16
Miscellaneous liabilities
Foreign direct investment in U.S.
Securities loaned (net)
Other
-04
(1) Funding subsidiaries, nonbank financial bolding companies, and custodial accounts for reinvested collateral of securities lendii^ operations.
(2) Due from affiliated companies.
36
Z.1, September 12, 1996
F.200 Gold and Official Foreign Exchange Holdings (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1
2
3
4
5
6
7
8
9
10
11
(1)
1991
1992
1993
1994
1995
------------------- 1995 ------------------Q4
Q2
Ql
Q3
------ 1996 -----Q2
Ql
23
-SA
-33
1.4
-53
94
213
10.9
74
-13
-13
0.2
02
-2.3
03
0.4
0.8
33
0.6
-1.4
0.6
0.2
-0.0
0.2
0.0
-2.3
-0.0
03
-0.0
0.4
-0.0
0.8
-0.0
33
0.0
0.6
0.0
-1.4
-0.0
0.6
-0.0
2.0
-5.9
-1.6
0.8
-5.8
8.8
17.8
10.3
9.0
Official foreign currency holdings
Treasury
Monetary authority
2.7
1.3
1.3
-6.3
-3.2
-3.2
-4.3
-2.1
-2.1
0.8
0.4
0.4
-5.3
-2.6
-2.6
6.3
32
32
15.7
7.9
7.8
7.1
3.6
3.6
Net IMF position
Federal government
Monetary authority
-0.7
-0.7
-0.0
0.4
0.4
-0.0
2.7
2.7
-0.0
0.0
0.1
-0.0
-03
-03
0.0
23
23
0.0
2.1
2.1
0.0
3.1
3.1
0.0
Total U.S. reserves
U.S. gold stock and SDRs
Federal govt: Exchange Stab. Fund
Monetary authority (2)
U.S. foreign exchange position
03
1
0.8
0.8
2
0.8
0.0
0.8
-0.0
3
4
-1.9
-2.1
0.0
5
5.1
23
23
-23
-1.3
-1.3
-53
-2.8
-2.8
-0.9
-0.4
-0.4
6
7
8
4.0
4.0
0.0
0.6
0.6
0.0
3.4
3.4
0.0
0.9
0.9
0.0
9
10
11
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.
F.201 SDR Certificates and Treasury Currency
Billions of dollars; quarterly figures are seasonally adjusted annual rates
SDK certificates:
2
Liab: Federal government
Asset Monetary authority
13
13
0.0
0.0
-2.0
-2.0
0.0
0.0
0.0
0.0
22
22
0.0
0.0
0.0
0.0
8.6
8.6
0.0
0.0
0.0
0.0
0.0
0.0
2
Tnasary camncy:
3
4
Liab: Federal government
Asset Monetary authority
1.0
0.8
0.0
0.6
0.2
0.4
0.4
0.6
0.7
0.9
0.6
1.0
0.7
0.9
0.7
1.1
0.8
1.1
0.0
1.0
0.0
1.1
-0.0
0.9
3
4
5
Discrepancy (seigniorage)
02
-0.6
-03
-0.2
-0.2
-03
-03
-0.4
-0.3
-1.0
-1.1
-0.9
5
F.202 U.S. Deposits in Foreign Countries
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
Tatal rest af the warld liability
273
-244
-33
•183
54.0
333
343
1103
-293
183
853
8.7
1
1.4
-0.1
0.6
1.0
1.8
-5.3
13
-0.7
-13
03
-1.4
-10.3
33
03
5.7
1.8
0.4
4.0
1.8
-5.9
-3.0
5.9
1.7
1.4
-1.6
4.6
23.2
1.0
1.0
-5.6
5.4
12.3
6.1
0.6
-8.0
-28.3
2
3
4
25.9
-24.0
-2.8
-7.0
44.9
27.4
41.6
101.8
-55.7
21.9
61.1
443
5
Held by:
2
3
4
5
Household sector
Nonfinancial corporate business
Money market mutual funds
Discrepancy—unallocated assets
37
Z.1, September 12,1996
F.203 Net Interbank Transactions
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1
Net change in liabilities
2
3
4
Monetary authority
Depositoiy institution reserves
Vault cash
5
6
Commercial banking
To monetary authority
7
1991
1992
1993
1994
1995
------------------- 1995 ------------------Q3
Q4
Q2
Ql
------ 1996 -----Q2
Ql
35.0
-34
494
503
89.7
10.1
-223
-43
-13.4
80.7
-903
-84.1
1
7.0
3.1
3.9
-82
-92
1.0
0.9
2.7
-1.7
3.7
2.9
0.8
1.3
-4.2
53
1.3
-12
2.4
-19.7
-53
-142
-1.8
-2.3
03
-3.8
-7.2
3.3
30.3
10.3
20.0
-35.1
-22.8
-12.2
13.4
182
-4.8
2
3
4
28.0
0.8
4.8
-13
48.4
3.0
46.9
-2.9
88.4
-13
8.9
0.7
-2.6
23
-2.7
1.5
-9.6
-0.1
50.4
-1.0
-55.3
-0.7
-973
13
5
6
25.6
-19.9
50.3
45.6
92.7
11.3
-4,8
-3.3
-21.8
75.0
-653
-71.9
7
8
9
10
11
Liabilities, net
U.S.-chartered commercial banks
Due to foreign affiliates
- Due from foreign affiliates
25.2
16.7
14.9
-1.8
-17.1
-5.7
7.4
13.1
48.6
-63
-10.1
-3.7
46.3
19.3
6.6
-12.8
933
74.3
52.7
-21.6
10.9
-23.
-14.6
-12.1
-3.3
82
20.3
12.1
-7.8
-17.9
-19.9
-2.0
-10.4
3.2
-48.4
-51.6
65.1
-3.4
-10.2
-6.8
-54.1
-452
-603
-15.3
-76.0
-353
-7.8
27.7
8
9
10
11
12
13
14
Foreign banking offices in U.S.
Due to foreign affiliates
- Due from foreign affiliates
8.1
7.9
-02
-5.7
5.4
11.1
49.3
3.7
-45.6
29.2
-1.7
-30.9
27.1
1.4
-25.7
172
153
-1.7
-6.0
15.8
21.9
13.4
28.6
152
-42
0.9
5.1
65.7
16.8
-48.9
-43
-16.7
-12.3
-523
1.7
542
12
13
14
15
16
17
Bank holding companies
Due to foreign affiliates
- Due from foreign affiliates
0.4
03
0.1
-5.7
-2.2
33
5.8
1.0
-4.8
-2.3
-2.3
-0.0
-7.8
-23
5.3
-3.8
-1.1
2.7
-53
-0.7
4,8
-3.3
-5.0
-1.6
-9.4
5.0
14.3
2.8
-3.8
-6.6
-4.4
-1.9
23
12.0
2.0
-10.0
15
16
17
18
19
20
Less: Deposits at foreign banks
U.S.-chartered commercial banks
Foreign banking offices in U.S.
-03
-0.7
0.3
2.8
2.9
-0.1
-1.7
-1.7
-0.0
0.7
0.7
0.0
0.8
-0.4
1.3
-0.4
-23
2.1
1.4
0.0
1.4
-43
-4.7
0.1
11.4
6.6
4,8
-9.9
-12.0
2.1
11.3
8.1
3.3
-4.0
2.9
-7.0
18
19
20
1.6
262
-4.9
42
-2.7
-3.1
-0.4
-0.9
12.3
-23.6
10.9
-27.0
21
-9.9
-7.6
52
-14.4
1.6
17.9
8.4
-15.6
-22
262
14,6
-10.6
-4.8
-0.9
-4.9
13.3
6.0
1.9
-0.1
42
5.6
4.9
8.1
-0.4
-2.7
-7.3
-8.1
-4.9
-0.1
-3.1
-49.8
-50.6
-503
02
-0.4
-4.0
23
3.6
-02
-0.9
25.0
333
212
-0.1
12.3
-03
-17.6
6.3
-0.3
-23.6
-79.8
-26.7
-373
-0.0
10.9
6.6
-14.0
13.1
-0.1
-27.0
22
23
24
25
26
5.7
-3.4
-8.1
-1.4
-21.8
-3.4
-103
32
-63
5.8
-1.3
03
-0.8
-0.0
82
-1.7
11.1
-2.7
-23.7
63
8.7
44.4
-14.0
-6.6
27
28
0.4
5.7
52
73
-8.1
-15.6
-17.0
-21.8
-4.8
-12.3
-103
1.9
-14.6
-63
8.1
3.6
-1.3
-4.9
49.7
-0.8
-503
4.6
8.2
3.6
-10.1
11.1
212
-29.9
-23.7
6.3
462
8.7
-373
-27.1
-14,0
13.1
29
30
31
11.0
-3.4
-14,4
0.8
-1.4
-22
-23
-3.4
-0.9
32
32
-0.1
62
5.8
-0.4
0.6
03
-0.1
-02
-0.0
02
-13
-1.7
-02
-2.6
-2.7
-0.1
6.8
63
-0.3
44.4
44.4
-0.0
-63
-6.6
-0.1
32
33
34
333
-294
542
463
923
133
-21.9
-33
-25.7
1043
-1012
-57.0
35
25.6
-19.9
50.3
45.6
92.7
11.3
-4.8
-3.3
-21.8
75.0
-653
-71.9
36
7.9
-9.7
3.9
0.7
-02
2.0
-17.1
-0.3
-3.9
29.3
-35.7
14,9
37
0.8
1.1
-0.3
-13
-13
0.0
3.0
23
03
-2.9
-2.3
-0.6
-13
-1.6
0.1
0.7
0.8
-0.1
23
3.1
-0.6
13
0.9
03
-0.1
-0.9
0.8
-1.0
0.1
-l.l
-0.7
-0.3
-0.4
13
-0.9
2.4
38
39
40
8.1
4.2
3.9
-7.8
-8.8
1.0
0.8
23
-1.7
3.3
23
0.8
1.9
-33
53
1.4
-1.1
2.4
-18.6
-4.4
-142
-22
-2.7
03
-3.6
-7.0
3.3
29.8
9.8
20.0
-35.1
-22.8
-12.2
142
19.0
-4.8
41
42
43
-1.1
-03
0.1
0.4
-0.6
-0.1
-1.1
0.4
-02
03
-0.0
-0.8
44
1.6
262
-4.9
42
-2.7
-3.1
-0.4
-0.9
12.3
-23.6
10.9
-27.0
45
21
22
23
24
25
26
27
28
To benks in foreign countries
To U.S. banking, net
U.S.-chartered commercial banks
Liabilities
To foreign offices in U.S.
To bank holding compenies
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. benks
- Due from U.S. banks
32
33
34
Bank holding companies
35
Due to U.S. banks
- Due from U.S. banks
Net change in assets
36
Rest of the worid
37
Domestic
38
39
40
Monetary authority
Federal Reserve float
Loans to member banks
41
42
43
Commercial banking
Reserves at Federal Reserve
Vault cash
44
Savings insts.: Reserves at Fed. Res.
45
Discrepancy—floats, etc.
38
Zl, September 12, 1996
F.204 Checkable Deposits and Currency
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1994
1993
1995
Ql
--------- 1995 -------Q2
Q3
Q4
------ 1996 -----Ql
Q2
43.6
865
1135
1175
-9.7
-125
315
1002
-113.1
-695
445
1.6
1
2
3
4
5
Monetary authority
Federal government cash and deposits
Deposits due to foreign
Currency outside banks
25 2
2.8
-02
22.6
292
8.8
0.6
19.8
17.6
-10.3
-0.7
28.7
37.1
7.2
0.1
29.8
25.3
-7.7
-0.1
33.1
17.0
-12
02
18.0
50.8
9.1
0.6
412
46.0
23.7
-0.7
23.0
-20.6
-27.6
0.2
6.7
-8.4
-102
0.9
0.9
41.6
25.2
-0.6
17.0
-16.6
-42.4
0.1
25.6
2
3
4
5
6
7
8
9
Commercial banking
Federal government deposits
Deposits due to foreign
Private domestic deposits
21.7
5.3
-0.1
165
37.6
55
-2.0
34.1
92.8
-5.9
2.3
96.4
74.1
12.1
-0.4
62.4
-31.7
-18.9
1.9
-14.7
-45.9
-4.7
0.8
-42.0
-175
2.7
-2.3
-17.9
34.0
35.8
-2.1
0.3
-110.7
-26.0
5.6
-90.3
-89.4
-315
2.1
-60.0
-24.1
25.3
-3.7
-45.6
-72
-2.0
16.3
-21.6
6
7
8
9
10
11
Sevings institutions
Credit unions
-4.8
15
17.3
22
-1.4
45
4.4
1.7
-5.4
2.0
-4.6
2.4
172
3.0
16.8
1.4
27.0
1.6
25.3
15
225
2.9
10
11
12
Net change in assets
43.6
865
1135
1175
-9.7
-125
315
1002
-113.1
-695
445
1j6
12
10.1
-29.7
53.3
-17.3
-108.8
-46.1
-295
18.7
13
8.9
4.3
3.0
1.7
205
15.1
3.7
1.7
-15.9
-20.9
3.4
1.7
39.3
34.1
3.6
1.7
44.9
39.4
3.8
1.7
135
7.8
4.0
1.7
46.3
40.7
3.9
1.7
13.7
8.3
3.8
1.7
14
15
16
17
1
Net change in UabUities
14.1 ,
2.1
13
Household sector
0.3
56.4
110.3
722
14
15
16
17
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
14.8
1*7
-1.3
0.4
175
15.7
0.8
1.0
13.7
6.9
5.0
1.8
18.1
13.6
2.8
1.7
18
19
20
Stale and local governments
Federal government
Rest of the world
-1.0
4.8
-0.3
52
27.4
-1.4
3.1
-16.9
15
1.4
20.7
-0.3
25
-21.7
1.8
2.9
-0.0
1.1
-02
72
-1.7
7.3
78.0
-2.8
-0.4
-57.3
5.8
5.0
-27.9
3.0
-6.8
42.6
-4.4
0.8
-33.1
165
18
19
20
21
Financial sectors
132
-102
-05
7.8
-3.7
2.3
-12.3
18.0
2.0
1.7
-7.9
05
21
•
22
23
24
25
Commercial banking
Savings institutions
Credit unions
Bank personal trusts and estates
-0.1
-0.3
0.0
0.1
-0.8
2.0
0.6
0.0
-05
-0.6
12
-0.1
-0.3
3.1
-0.1
-0.1
0.4
-15
0.0
-0.3
02
1.6
0.9
0.1
-0.9
-6.6
1.6
-0.1
1.0
3.9
0.1
0.1
-1.3
05
0.8
0.1
1.7
8.3
1.1
0.1
-0.8
-6.9
12
0.1
0.4
-25
-15
0.1
22
23
24
25
26
27
28
29
Life insurance companies
Other insurance companies
Private pension funds
State and local govt retirement funds
-0.1
05
-0.8
15
05
-1.1
-0.3
0.1
-0.6
02
-0.0
0.8
0.3
-0.4
-0.1
0.7
0.6
-02
-0.1
-0.6
0.6
-02
-0.1
-2.1
0.9
-02
-0.1
0.4
05
-02
-0.1
-3.8
0.1
-02
-0.1
0.1
1.1
-0.2
-0.1
-5.1
-0.2
-02
-0.1
1.6
02
-0.2
-0.1
-2.0
26
27
28
29
30
31
32
33
Money market mutual funds
Government-sponsored enterprises
Finance companies
Brokets and dealers
11.1
-02
1.1
05
-115
-0.9
12
-0.1
-2.4
-0.0
1.3
02
1.4
0.9
0.4
1.9
-1.3
-0.9
0.4
-0.3
-1.0
02
0.4
1.7
-16.4
0.0
0.4
8.4
18.1
1.3
0.4
-3.4
-2.1
-25
0.4
6.1
-35
2.1
0.4
-4.2
2.3
-2.1
0.4
-3.3
0.8
-1.2
0.4
6.1
30
31
32
33
11.8
-8.6
22
-2.8
-7.6
-9.8
1.0
-22.3
0.6
-185
4.1
-155
34
34
Mail float
39
Z.1, September 12,1996
F.205 Time and Savings Deposits
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1
2
Net change in liabilities
Small time and savings deposits
1991
1992
1993
1994
1995
------------------- 1995 ----------------- Q4
Q2
Q3
Ql
------ 1996 -----Q2
Ql
-2.4
-57.0
-1304
-935
-204
162.1
1384
170.0
225.7
1135
2325
755
1
63.7
15
-57.2
-70.3
-40.0
965
29.8
95.6
145.6
1149
189.0
-10.2
2
211.7
212.0
-12
0.9
425
43.7
-2.4
12
3
4
5
6
7
8
3
4
5
6
Commercial hanlring
U.S.-chartered commercial hanks
Foreign banking offices in U.S.
Banks in U.S.-affiliated areas
123.0
121.9
-1.0
2.1
78.9
80.0
-0.1
-1.0
2.7
2.1
0.2
0.4
-11.9
-10.9
-0.8
-02
-1.1
-0.7
-1.1
0.8
113.7
113.3
-0.7
12
31.8
33.2
-2.3
0.9
1365
133.7
1.8
0.9
139.4
139.6
-12
0.9
147.4
1465
-1.3
2.1
7
8
Savings institutions
Credit unions
-73.7
14.4
-94.9
175
-755
155
-68.1
9.8
-44.4
55
-28.9
11.6
15.1
-17.1
-30.4
-10.5
-34.8
41.0
-65.7
33.2
-64.1
41.4
-62.3
9.6
9
Large time deposits (1)
-66.1
-585
-73.2
-235
19.6
65.6
108.8
74.4
80.2
-0.9
43.0
85.4
9
10
11
12
13
Commercial banking
U.S.-chartered commercial banks
Foreign banking offices in U.S.
Banks in U.S.-affiliated areas
-22.1
-205
-3.7
2.1
-24.0
-73.1
50.1
-1.0
-66.8
-76.2
9.0
0.4
-21.0
-20.0
-0.8
-02
21.3
17.9
2.6
0.8
54.8
42.6
11.0
12
73.7
63.9
8.9
0.9
40.7
33.3
65
0.9
94.9
33.3
60.7
0.9
9.9
39.8
-32.1
2.1
46.7
28.1
17.7
0.9
84.4
64.1
19.0
12
10
11
12
13
14
15
Savings institutions
Credit unions
-41.9
-2.1
-35.3
0.8
-7.9
1.6
-3.6
1.1
-2.1
0.4
92
1.7
12.4
22.7
85
25.3
9.9
-24.7
5.9
-16.7
1.4
-5.1
0.7
0.4
14
15
16
Net change in assets
-2.4
-57.0
-130.4
-935
-204
162.1
1384
170.0
225.7
1135
232.0
755
16
17
Household sector
49.0
-54.0
-74.3
-1082
-7.1
1505
152.3
149.6
182.4
117.8
181.8
67.6
17
18
19
20
Nonfinancial business
Corporate
Nonfarm noncorporate
-16.6
-16.3
-0.3
-6.7
-6.6
-0.1
-172
-15.0
-22
23.6
22.3
1.3
-12
-2.6
1.3
0.0
-1.9
1.9
-41.4
-43.1
1.6
27.9
26.0
1.8
7.2
5.2
2.0
6.4
4.4
2.0
-95
-11.4
1.9
6.4
4.6
1.8
18
19
20
21
22
23
State and local governments
Federal government
Rest of the world
-2.7
0.1
-0.7
-10.1
0.1
-0.2
-6.2
-0.7
-1.1
-4.8
-0.1
6.8
5.8
*0.1
15
9.8
0.3
-65
8.0
1.8
-5.4
5.6
-0.3
-14.3
9.6
-0.0
-7.9
15.9
-05
15
7.9
0.4
10.8
142
13.2
-62
21
22
23
24
Financial sectors
-315
140
-30.9
-11.2
-19.2
8.0
23.3
15
34.4
-272
40.7
-19.9
24
-0.1
0.4
0.2
-0.3
5.0
-46
-1.3
0.3
-5.2
-0.7
-1.3
-1.1
-1.8
-8.9
1.6
-0.2
0.4
-1.0
-0.9
-4.7
-0.2
-02
1.7
-1.1
0.3
2.3
-15
0.1
2.3
-1.2
-0.4
85
-1.0
-0.3
-1.0
-1.0
25
26
27
-9.3
-1.7
-21.1
05
0.1
13.2
-22.4
-1.8
-05
-7.9
2.6
-2.8
-6.6
-3.0
-05
-11.0
-12
20.9
-85
-2.8
40.3
-2.8
-1.0
4.9
-21.1
-3.2
57.7
-11.7
2.4
-19.1
18.9
-2.3
17.1
-7.1
-2.4
-8.1
28
29
30
n
Savings institutions
Credit unions
Bank personal trusts and estates
28
29
30
Private pension funds
State and local govt retirement funds
Money market mutual funds
25
26
(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
685
415
45
202
435
1425
742
221.1
1225
151.1
244.0
4.1
1
2
Net purchases
685
415
45
202
435
1425
742
221.1
1225
151.1
244.0
4.1
2
3
4
5
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
26.9
10.2
-0.1
9.2
52
-0.1
-41.3
15.8
0.1
5.8
-25
0.1
13.6
7.4
0.1
95.4
30.8
0.2
425
6.8
0.2
157.1
58.8
02
98.6
17.6
0.2
83.3
40.0
02
160.1
32.4
0.2
-38.4
13.6
0.2
3
4
5
6
7
8
9
Bank personal trusts and estates
Life insurance companies
Private pension funds
Funding corporations
3.6
11.9
-0.0
16.1
3.6
6.9
1.0
15.8
-0.3
5.3
15
235
0.1
0.2
65
10.1
0.6
-14.7
45
31.8
2.1
102
12
2.4
1.6
4.9
3.8
144
22
16.0
-46
-8.6
2.4
4.0
55
-5.2
22
16.0
0.3
9.1
2.0
9.6
72
32.4
2.1
14.9
12
105
6
7
8
9
40
Z.1, September 12, 1996
F.207 Federal Funds and Security Repurchase Agreements
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
Net change in liabilities
1993
1994
1995
------------------- 1995 ------------------Q2
Q4
Q3
Ql
------ 1996 -----Q2
Ql
1990
1991
-242
-163
43.1
712
785
110.7
1725
115.6
95.0
595
-23.7
70.4
1
1992
2
3
4
5
Commercial hanking (net)
U.S.-chartered commercial hanks
Foreign banking offices in U.S.
Bank holding companies
-25.6
-33.7
8.4
-0.4
-19.3
-27.1
8.8
-0.9
182
17.4
0.7
02
415
45.4
-4.3
0.4
782
71.7
6.7
-02
305
28.3
1.8
0.4
84.6
88.8
-5.7
15
535
32.0
14.7
6.9
44.1
49.9
0.3
-6.1
-60.3
-57.4
-22
-0.6
16.7
35
12.6
0.6
96.1
68.9
272
-0.1
2
3
4
5
6
7
8
Savings institutions
REITs
Brokers and dealers (net)
-15.3
0.0
16.8
-22.9
0.0
25.7
-1.0
1.9
24.0
75
2.1
20.0
18.4
4.7
-23.0
-0.0
12
79.0
0.3
12
86.3
25.9
12
35.0
21.7
12
28.0
-47.9
1.2
166.7
-25
12
-39.1
-30.8
1.3
3.9
6
7
8
23
•63
395
363
465
1065
1065
1685
715
865
24.1
36.7
9
-0.6
-26.6
-3.4
-05
-16.6
12
3.4
4.9
20.9
-2.6
16.7
19.7
-0.4
12.0
-13.6
02
25.7
212
6.0
16.6
422
20.9
14.8
25.3
-20.8
44.0
165
-5.3
27.3
1.0
-02
15.6
285
1.8
142
18.8
10
11
12
33.6
9.0
10.3
3.1
48.7
61.1
415
107.6
31.8
63.6
-19.8
1.9
13
162
-25
2.1
-25
-6.6
-1.4
-7.8
-0.6
0.4
5.1
-3.9
-5.1
-2.6
-4.1
-2.3
3.3
4.8
02
10.1
9.2
0.9
14.8
45
2.3
-11.3
0.8
1.8
-0.6
4.6
-4.4
-135
-0.2
4.4
-20.9
-2.7
-7.9
14
15
16
9
Net change in assets
10
11
12
Nonfinancial corporate business
State and local governments
Rest of the world
13
Financial sectors
14
15
16
Monetary authority
Savings institutions
Credit unions
17
18
19
Other insuranoe companies
Private pension funds
State and local govt retirement funds
32
0.3
2.1
-4.1
5.4
4.3
5.6
2.1
2.9
-0.9
6.6
02
-2.3
102
75
8.1
-0.3
-15
8.1
-05
6.0
8.1
-4.8
65
8.1
35
-112
8.1
05
-7.2
8.1
122
-0.9
8.1
10.1
11.1
17
18
19
20
21
22
Money market mutual funds
Mutual funds
Government-sponsored enterprises
3.9
1.4
6.9
8.8
6.1
-1.1
-1.0
9.7
-1.0
0.4
16.8
-162
2.4
4.4
35.4
19.0
7.1
205
-10.0
-85
26.1
34.2
-2.2
44.3
15.4
8.0
16.7
36.6
31.1
-5.1
10.1
-30.8
-92
7.0
-5.9
3.1
20
21
22
-27.1
-95
3.6
34.3
315
25
662
-53.0
235
-26.8
-47.8
33.8
23
23
Discrepancy—unallocated assets
F.208 Open Market Paper
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
2
3
4
5
6
7
8
9
10
Total net issues, all types
Commercial paper
Nonfinancial corporate business
Foreign issues in U.S.
Financial sectors
Commercial banking
ABS issuers
Finance companies
REITs
Funding corporations
30.7
-44.0
13.1
-5.1
35.7
745
873
613
885
583
462
1285
1
36.0
-29.7
17.0
25
38.6
75.1
802
62.9
89.6
675
42.7
131.9
2
9.7
12.3
-18.4
6.4
8.6
52
10.0
-9.0
21.4
-27.3
18.1
13.6
12.3
37.9
39.1
-11.1
13.9
30.9
72
-3.4
422
-13.8
15.4
7.4
3
4
13.9
-18.7
15.7
4.6
-02
125
-17.7
-5.8
7.3
-5.8
-0.0
-135
32
-3.9
8.6
-3.1
-0.0
15
15
5.2
4.6
2.7
-0.3
-10.7
445
5.9
95
25.4
-0.6
42
43.4
-1.4
37.3
-0.1
-0.0
7.6
30.0
-2.3
21.7
0.9
-0.0
9.8
34.9
-0.9
22.2
9.4
-0.0
4.3
44.8
132
215
-12.8
-0.0
22.9
63.7
-15.7
83.8
2.3
0.0
-6.7
14.3
1.6
35.9
16.3
0.0
-39.6
109.0
155
18.4
2.1
0.0
72.9
5
6
7
8
9
10
11
Bankers acceptances (1)
-5.3
-14.3
-3.9
-7.7
-2.9
-0.8
7.6
-1.0
-1.1
-85
35
-3.3
11
12
Net purchases, by sector
30.7
-44.0
13.1
-5.1
35.7
745
873
613
885
583
462
1285
12
13
14
15
Household sector
Nonfinancial corporate business
Rest of the world
62
-05
-2.0
-29.9
0.9
0.6
-3.3
2.3
1.6
15.6
2.4
5.9
-105
-0.8
6.0
0.3
1.0
18.7
-36.0
4.0
15.9
14.0
-7.6
17.0
34.0
4.2
18.1
-10.9
3.3
235
-295
-4.1
-50.1
10.0
0.9
45.7
13
14
15
16
17
18
19
20
Monetary authority
Commercial banking (1)
Savings institutions
Credit unions
Bank personal trusts and estates
0.0
2.8
-0.0
12
-05
0.0
-2.0
05
0.3
-52
0.0
-1.4
-0.7
0.4
-25
0.0
-1.9
-0.3
-0.7
-3.2
0.0
-15
-0.2
-0.1
35
0.0
-0.1
0.0
-1.6
02
0.0
-5.0
0.0
-1.9
1.3
0.0
4.6
0.6
-1.5
0.0
0.0
-1.0
-0.3
-2.4
-0.4
0.0
0.9
-0.1
-0.6
0.0
0.0
1.7
0.1
-0.9
02
0.0
-4.7
0.0
-0.3
0.1
16
17
18
19
20
21
22
23
Life insurance companies
Private pension funds
State and local govt retirement funds
2.9
0.3
2.1
0.0
5.4
4.3
-25
2.1
2.9
3.6
6.6
02
5.9
10.2
75
-72
-0.3
-15
1.9
-05
52
-3.7
-4.8
9.7
5.2
35
-13.7
-32.3
05
-7.0
26.3
122
-1.9
-1.6
10.1
9.9
21
22
23
24
25
26
27
28
Money market mutual funds
Mutual funds
Government-sponsored enterprises
Brokers and dealers
Funding corporations
195
3.7
05
0.6
-6.3
-13.4
-16.3
7.1
-4.4
82
-17.0
9.7
2.7
1.2
17.7
-9.1
16.8
-1.7
-0.3
-38.9
22.7
4.4
14.4
-3.7
-222
48.4
7.1
-0.8
10.9
-0.6
502
-11.8
9.9
225
32.1
65.3
-4.7
-13.2
2.5
-16.3
18.1
2.7
12.0
18.7
-10.3
59.7
422
-12.0
-0.3
-8.0
31.4
-34.4
10.0
-21.2
1065
43.1
-8.4
3.6
10.7
95
24
25
26
27
28
(1) Excludes banks’ holdings of own acceptances.
41
Z.1, September 12,1996
F.209 Treasury Securities
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
Ql
1
2
3
4
5
6
7
Net issues
Savings bonds
Other Treasury issues
Net purchases
Household sector
Savings bonds
Other Treasury issues
-------- 1995 --------Q2
Q3
Q4
------ 1996 -----Q2
Ql
238.7
292.0
3033
2483
155.7
142.9
249.0
183.1
853
54.1
2422
402
1
83
230.3
11.9
280.1
19.1
284.6
14.7
233.7
8.0
147.7
5.1
137.9
5.8
2432
4.8
178.3
3.9
81.7
5.9
48.3
3.4
238.8
2.6
573
2
3
238.7
292.0
3033
2483
155.7
142.9
249.0
183.1
853
54.1
2422
402
4
72.6
83
64.1
-13.8
11.9
-25.7
733
19.1
544
293
14.7
14.9
215.2
8.0
2072
163
5.1
113
992
5.8
933
-68.3
4.8
-73.0
73.0
3.9
69.1
-37.8
5.9
-43.7
12.9
3.4
93
21.0
2.6
18.4
5
6
7
-13.8
0.6
353
5.8
-0.3
23.0
172
0.7
-20.4
-11.8
0.6
26.6
24.7
0.6
-130.8
-6.3
0.7 ,
-133.1
-68.6
0.7
-87.3
24.4
0.7
-107.8
-33.7
0.7
-182.7
52.7
0.8
-154.8
5.0
0.7
-91.8
-5.8
0.7
-78.4
8
9
10
8
9
10
Nonfinancial corporate business
Nonfarm noncorporate business
State and local governments
11
12
Rest of the world
Monetary authority
27.0
8.3
33.7
31.4
55.6
283
73.3
37.0
65.0
323
168.2
13.7
160.4
19.4
222.3
17.9
231.0
-3.3
58.9
20.7
269.7
17.3
113.2
9.9
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
6.8
1.7
5.0
-0.2
0.3
60.4
50.3
9.4
0.3
0.3
61.9
46.6
8.7
5.1
13
27.8
20.6
63
-0.8
13
-31.8
-27.0
-33
-0.7
-0.6
-11.7
-40.4
29.6
-12
0.2
23.9
-56.8
82.3
-23
0.8
-7.6
-43.2
26.9
6.7
2.0
-37.9
-23.7
-4.1
-10.4
0.3
-25.4
-38.0
13.4
13
-2.2
-273
-45.7
22.0
-2.4
-1.3
19.7
0.9
18.0
-0.1
0.8
13
14
15
16
17
18
19
20
Savings institutions
Credit unions
Bank personal trusts and estates
-0.9
-3.6
4.8
-0.9
53
1.7
9.0
5.9
-0.8
-5.7
2.6
0.3
-1.1
-03
-0.6
-8.7
-3.8
-3.3
-13.8
-33
-23
-9.2
-3.9
-33
0.6
-1.3
-3.8
-123
-6.3
-3.6
0.7
9.1
-33
-1.6
1.7
-3.3
18
19
20
21
22
23
24
Life insurance companies
Other insurance companies
Private pension funds
State and local govt retirement funds
6.3
7.8
24.6
17.6
18.6
23.9
13.8
13.7
102
2.6
12.9
43
20.1
142
10.9
15.9
-2.9
9.4
93
8.3
1.0
03
17.4
8.0
16.3
0.1
183
17.3
2.4
0.8
17.6
-11.0
0.3
0.6
123
233
-14.9
0.3
20.9
2.1
-9.1
03
12.6
21.1
0.7
0.4
17.9
4.9
21
22
23
24
25
26
27
28
29
Money market mutual funds
Mutual funds
Closed-end funds
Government-sponsored enterprises
Brokers and dealers
302
73
02
21.3
-14.2
33.4
22.4
3.1
182
-1.6
02
36.0
1.7
17.9
-13.3
1.0
31.4
2.3
-7.1
-20.7
-13.3
-6.8
-7.6
0.4
-14.4
3.8
112
2.0
6.1
61.0
9.9
0.7
0.1
4.8
532
-12.6
0.4
3.6
-0.8
1173
15.8
14.8
2.7
13
-28.7
2.2
28.8
1.6
18.7
101.8
74.4
32.4
-12
-29.1
-52.2
2.0
283
-2.0
10.4
-79.9
25
26
27
28
29
246.9
2782
304.0
256.1
155.9
144.4
247.8
184.7
86.0
59.3
239.9
62.4
30
Memo:
30
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).
42
Z.1, September 12, 1996
F.210 Agency Securities (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
------------------- 1995 ------------------Ql
Q2
Q3
Q4
------ 1996 -----Q2
Ql
175.6
132.0
156.1
172.0
2933
2063
853
198.1
228.1
314.7
1413
3042
1
82
17.1
150.3
-13.8
9.2
136.6
02
40.3
115.6
7.8
80.6
83.6
02
176.9
1163
13
106.9
98.2
-12
62.9
23.8
1.6
127.2
69.3
0.4
1013
126.2
5.1
136.1
173.5
-2.3
37.4
1063
22
132.9
169.1
2
3
4
1753
132.0
156.1
172.0
2933
2063
853
198.1
228.1
314.7
1413
3042
5
Household sector
Nonfinancial corporate business
State and local governments
26.1
-5.9
4.8
-7.6
1.8
23.0
38.6
33
-0.4
-162
103
-17.1
124.3
9.7
36.8
-0.4
-13
8.0
-16.4
-0.0
-16.9
-76.9
10.7
26.9
83.8
-23.7
-15.4
8.0
7.1
372
-10.8
-103
-2.4
90.3
5.4
63.9
6
7
8
9
10
11
Federal government
Rest of the world
Monetary authority
0.0
6.3
-0.2
0.0
102
-0.3
0.0
18.3
-0.6
0.0
35.4
-0.8
0.0
21.7
-1.0
0.0 .
28.7
-1.0
0.0
26.0
-0.9
0.0
253
-12
0.0
49.0
-0.8
0.0
144
-1.0
0.0
57.8
-0.4
0.0
27.3
-0.6
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
54.3
52.8
1.9
-03
0.1
50.9
46.3
4.0
03
0.1
42.8
38.9
2.9
-02
1.1
44.7
362
7.4
0.9
02
53
1.8
13
1.7
03
38.7
23.4
143
-02
1.3
203
-9.4
32.8
-2.9
-0.0
54.4
35.6
193
-0.8
0.1
583
57.1
0.2
1.0
02
21.4
10.1
43
2.1
4.8
15.3
7.9
7.3
02
-0.1
9.7
49
5.8
02
-12
12
13
14
15
16
17
-232
-40.6
-2.0
42
12.6
4.7
13.8
-1.6
17
9.1
7.7
43
4.9
-43
-0.6
12.6
10.1
18
33
12
-0.8
0.9
-03
-2.0
-13
-2.3
-2.1
-11.7
2.6
-2.1
-10.9
52
-5.9
11.9
-2.1
12.3
82
19
Savings institutions
Credit unions
Bank personal trusts and estates
-2.3
19
20
21
22
23
Life insurance companies
Other insurance companies
Private pension funds
State and local govt retirement funds
20.3
5.9
13.7
93
42.4
9.7
6.9
5.2
27.7
-0.3
6.1
-3.7
27.6
1.3
5.1
-4.4
11.3
1.6
3.9
7.6
8.7
2.3
9.6
16.6
32.1
2.4
9.1
18.8
7.3
22
10.0
10.8
13.9
2.1
6.7
1.0
-18.3
23
12.6
35.9
-15.0
2.4
7.3
15.7
5.6
2.6
11.0
33.3
20
21
22
23
24
25
26
27
28
Money market mutual funds
Mutual funds
Government-sponsored enterprises
ABS issuers
Brokers and dealers
15.6
6.4
5.6
5.1
19.6
42
183
11.1
-19.8
10.0
13.6
20.8
12.3
-27.7
-1.0
133
17.9
18.4
15.6
7.8
9.4
-3.6
63.1
2.6
-15.8
13.7
7.7
57.4
13
9.0
-8.7
03
19.6
-8.4
0.0
52.8
0.3
87.3
-4.0
-12.0
-26.9
102
17.7
26.6
16.0
37.4
20.0
104.9
-82
32.0
21.6
223
55.9
93
-16.0
-26.6
19.8
54.3
17.6
-6.4
24
25
26
27
28
1
2
3
4
5
6
7
8
18
Net issues
Budget agencies
Government-sponsored enterprises
Federally related mortgage pools
Net purchases
(1) Agency securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as FNMA and FHLB;
and federally related mortgage-backed securities issued by GNMA, FNMA, FHLMC, 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 30.
43
Z.1, September 12,1996
F.211 Municipal Securities and Loans
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
Ql
1
Net change in liabilities
2
3
4
State and local governments
Short-term (1)
Long-term
5
Nonprofit organizations (2)
Nonfinancial corporate business
(industrial revenue bonds)
6
7
Net change in assets
--------- 1995 -------Q2
Q3
Q4
------ 1996 ---Ql
Q2
493
873
303
743
-293
-413
-543
-23
-1003
-73
-153
40.1
1
45.8
2.9
42.8
813
6.9
74.4
21.3
-1.1
22.3
62.9
1.8
61.1
-423
-2.2
-40.2
-44.2
1.2
-45.4
-52.9
10.7
-633
-73
-3.8
-3.7
-102.0
-13.1
-88.8
-14.4
11.2
-253
-10.8
-0.8
-10.0
38.7
4.1
343
2
3
4
3.8
7.7
9.3
11.9
143
5.9
5.3
8.1
3.7
6.4
3.3
13
5
-0.3
-1.2
-0.0
-0.1
-13
-2.9
-7.4
-2.7
-2.0
0.4
-7.7
0.0
6
493
873
303
743
-293
-413
-54.9
-23
-1003
-73
-153
40.1
7
8
9
10
Household sector
Nonfinancial corporate business
State and local governments
26.4
-7.7
2.1
38.9
20.1
1.4
-27.9
1.0
-0.6
-24.0
8.9
-0.5
-50.4
4.7
-2.8
-43.0
-4.7
-5.9
-2.2
-21.2
-5.3
-25.8
4.4
-53
-101.6
4.6
-6.4
-42.4
-6.7
-6.1
22.7
-53.9
-7.1
2.8
35.0
-8.0
8
9
10
11
12
13
Commercial banking
Savings institutions
Bank personal trusts and estates
-16.4
0.4
7.7
-143
-0.6
9.2
-5.7
-0.4
6.1
1.7
0.1
12.9
-1.6
-0.1
53
-4.2
-0.0
-11.1
-8.9
-0.0
-6.0
-3.8
-0.0
-123
-43
0.1
-14.2
03
-03
-11.8
-1.6
0.0
-10.3
-1.2
-0.4
-5.1
11
12
13
14
15
16
17
Life insurance companies
Other insurance companies
Private pension funds
State and local govt retirement funds
3.3
1.8
-0.0
0.1
-2.1
-10.7
0.1
-0.1
1.1
6.3
-0.0
0.2
33
10.4
0.0
03
-1.9
7.4
0.0
-03
-0.9
7.0
0.1
0.1
-4.4
63
0.1
-0.1
5.7
6.6
0.1
-0.1
-1.8
73
0.0
0.1
-3.2
7.7
0.1
0.7
1.8
8.1
0.0
-03
2.7
8.1
0.1
1.1
14
15
16
17
18
19
20
Money market mutual funds
Mutual funds
Closed-end funds
13.9
13.9
2.0
6.6
273
11.3
5.4
28.7
14.3
9.6
42.9
43
7.8
-43
7.7
143
3.2
5.6
5.0
-3.6
63
22.4
-2.6
6.2
14.7
2.8
5.8
15.0
16.2
3.8
353
7.8
0.0
-1.8
1.8
4.8
18
19
20
21
22
Government-sponsored enterprises
Brokers and dealers
0.8
0.8
-0.7
1.6
0.2
1.9
-0.6
5.8
0.8
-1.7
1.0
-2.7
-23
-183
-0.9
33
2.0
-9.6
53
13.7
-1.9
-15.4
03
-0.4
21
22
(1) Debt with original maturity of 13 months or less.
(2) Liability of the households and nonprofit organizations sector (tables F.100 arxl L.100).
F.212 Corporate and Foreign Bonds
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
Nettanies
1223
1633
167.1
2783
153.0
3063
2343
3313
3323
3283
250.1
282.4
1
2
3
Nonfinancial corporate business
Rest of the world (1)
47.1
21.4
78.8
15.0
67.6
16.8
753
82.9
233
123
73.3
483
53.0
13.9
98.4
51.2
59.8
55.2
82.0
72.7
58.9
47.9
70.0
11.4
2
3
4
5
6
Financial sectors
Commercial hanking
Savings institutions
54.0
-4.8
-5.6
69.9
43
-4.1
82.7
143
-3.2
120.1
73
-13
1173
7.7
-0.8
1853
183
-0.0
167.6
19.0
-0.1
182.3
273
0.2
217.7
21.1
0.0
173.4
6.7
-0.3
143.3
-20.7
-0.8
201.0
223
-1.0
4
5
6
7
8
9
10
11
ABS issuers
Finance companies
REITs
Brokers and dealers
Funding corporations
44.6
15.3
0.1
13
2.9
46.7
123
0.1
3.7
6.9
49.9
6.1
1.0
2.7
11.7
78.7
9.7
03
12.0
13.6
59.0
29.0
2.0
03
20.0
953
49.7
2.1
-5.0
24.4
45.9
77.6
2.1
-293
52.7
91.0
39.8
2.1
-0.1
22.1
144.9
31.0
2.1
2.1
16.4
100.1
503
2.3
7.7
6.4
96.4
26.7
2.3
-31.8
71.1
108.8
413
23
13.1
13.6
7
8
9
10
11
1223
1633
167.1
2783
153.0
3063
2343
3313
3323
3283
250.1
282.4
12
48.6
5.3
33.3
16.2
-5.4
18.1
44.4
30.4
8.0
38.0
63.0
57.2
69.9
56.1
29.9
51.7
151.6
60.6
0.7
603
293
72.7
-53.9
71.3
13
14
12
Net purchases
13
14
Household sector
Rest of the world (2)
15
16
17
Commercial banking
Savings institutions
Bank personal trusts and estates
4.6
-193
03
7.6
-2.9
3.4
-1.6
73
63
33
9.1
-1.1
4.3
-2.4
-0.4
8.4
-83
-3.1
-6.2
-73
-2.3
6.4
6.7
-3.3
243
-6.8
-3.6
9.2
-253
-3.3
-4.6
-11.8
-3.0
2.6
-25.1
-2.0
15
16
17
18
19
20
21
Life insurance companies
Other insurance companies
Private pension funds
State and local govt retirement funds
563
10.4
15.2
2.8
25.4
7.4
153
173
55.0
-13
23.7
193
583
33
22.7
9.8
59.9
73
223
53
90.7
12.7
33.6
-2.6
83.8
13.0
30.8
17.4
1163
12.4
33.3
-5.3
36.1
12.7
27.4
-8.9
126.8
12.7
42.8
-133
38.0
13.6
31.3
203
107.8
13.6
43.7
26.0
18
19
20
21
22
23
24
Money market mutual funds
Mutual funds
Closed-end funds
-1.7
4.7
-0.9
1.8
28.4
-1.6
23
31.0
2.2
5.4
50.6
4.4
3.4
3.2
-5.6
6.4
23.3
-1.7
-0.1
0.8
-3.1
6.4
29.9
-3.4
8.3
27.6
-0.1
10.8
34.7
-0.4
12.4
393
0.0
1.6
403
1.0
22
23
24
25
26
27
Government-sponsored enterprises
Brokers and dealers
Funding corporations
0.0
-4.0
0.0
0.0
12.0
0.0
0.0
10.0
0.0
11.1
22.2
4.0
83
-8.7
10.0
53
12.0
9.8
83
-26.7
0.0
8.4
34.7
8.0
-14.1
1.7
16.0
19.1
38.3
15.0
-7.6
-4.1
24.1
-1.5
-0.0
56.9
25
26
27
(1) Net purchases of foreign issues by U.S. residents.
(2) Net purchases of U.S. issues by foreign residents.
44
Z.1, September 12, 1996
F.213 Corporate Equities (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1
Net issues
2
Nonfinancial corporate business
3
Rest of the world (2)
4
5
6
7
8
9
Financial sectors
Commercial banking
Other insurance companies
Closed-end funds
REITs
Brokers and dealers
10
Net purchases
1991
1992
1994
1993
1995
------------------- 1995 ------------------Q3
Q4
Q2
Ql
------ 1996 -----Q2
Ql
-443
622
873
1212
273
-113
-352
-123
5.0
-23
-4.9
73.1
1
-63.0
18.3
27.0
21.3
-44.9
-742
-60.0
-71.3
-92.8
-72,8
-106.8
-16.8
2
7.4
30.7
32.4
63.4
48.1
50.7
16.4
40.8
882
57.4
89.8
68.9
3
11.0
2.1
2.8
1.4
1.3
3.4
13.3
0.9
1.9
14.6
1.6
-5.7
28.1
4.3
53
182
2.0
-1.9
36.6
1.9
7.4
13.0
12.9
1.3
24.1
1.8
63
0.9
10.3
4.7
122
23
7.1
33
7.3
-8.1
8.4
0.6
7.1
1.4
4.8
-5.4
17.7
4.9
7.1
4.0
11.2
-93
9.6
1.6
7.1
8.0
6.4
-133
13.1
2.8
7.1
0.6
6.8
-4.2
12.1
32
7.0
0.8
62
-5.1
21.1
6.4
7.0
2.8
9.2
-4.3
4
5
6
7
8
9
-44j6
622
873
1212
273
-113
-352
-123
5.0
-23
-43
73.1
10
-33.4
-16.0
-35.1
10.4
19.7
-53
-62.1
20.9
-132.7
0.9
-168.3
16.4
-159.6
-14.7
-202.4
21.9
•177.7
193
-1333
38.9
-128.0
12.9
-81.9
25.8
11
12
-1.4
-1.8
-9.3
2.1
0.7
-17.7
-0.6
0.4
-20.1
1.1
1.9
-12
6.1
0.4
-30.2
1.8
0.0
-19.4
0.7
2.8
-34.4
1.7
-0.0
-12.1
13
14
15
11
12
Household sector
Rest of the world (3)
13
14
15
Commercial banking
Sevings institutions
Bank personal trusts and estates
-23
-23
d3
1.7
-1.1
-8.6
-0.4
0.3
-37.0
0.9
1.7
-55.2
16
17
18
19
Life insurance companies
Other insurance companies
Private pension funds
State and local govt retirement funds
-5.7
-7.0
-13
12.3
93
-1.2
4.7
29.4
2.7
-0.4
32.3
16.7
31.8
0.8
92
48.0
63.3
1.1
-14.7
18.0
26.0
-13
-0.1
38.3
6.8
-13
193
563
12.6
-13
15.0
32.3
42.6
-13
-19.6
52.8
422
-13
-153
11.6
-11.4
-12
-98.0
48.6
-23.9
-1.2
-114.4
31.1
16
17
18
19
20
21
22
Mutual funds
Closed-end funds
Brokers and dealers
14.4
0.1
-3.3
483
1.8
2.4
59.8
-0.0
-0.6
115.3
2.0
8.1
100.8
6.4
-3.4
87.4
-2.3
7.7
79.0
-2.1
1.2
109.1
-2.4
0.9
108.2
-0.4
4.7
53.3
-4.4
24.2
233.4
2.0
-32.4
237.8
-1.0
11.2
20
21
22
•
(1) Excludes mutual fund shares shown on table F.214
(2) Net purchases of foreign issues by U.S. residents.
(3) Net purchases of U.S. issues by foreign residents.
F.214 Mutual Fund Shares
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
Net issues
623
1472
209.1
323.7
1283
1733
84.1
165.0
202.0
2443
2873
3382
1
2
Net purchases
623
1472
209.1
323.7
1283
1733
84.1
165.0
202.0
2443
2873
3382
2
3
4
Household sector
Nonfinancial corporate business
39.9
-1.0
113.6
2.4
148.3
5.0
237.7
6.8
104.1
2.1
1463
42
65.8
3.0
151.0
3.0
174.7
3.0
1943
7.9
205.2
5.0
236.7
9.0
3
4
5
6
7
Commercial banking
Credit unions
Bank personal trusts and estates
-0.3
02
9.7
1.8
12
133
-0.4
13
25.8
03
0.1
44.9
-1.9
-4.2
22.3
0.3
-0.0
-11.3
03
-0.0
-13.1
1.3
-0.0
-24.0
03
0.0
-10.4
-1.0
0.0
2.4
0.6
0.0
52
-0.6
0.0
4.3
5
6
7
8
9
Life insurance companies
Private pension funds
12.6
1.7
83
62
18.7
102
10.9
22.7
-163
22.9
6.1
28.1
6.3
21.7
4.0
29.8
4.0
30.1
10.0
30.8
8.4
63.3
13.1
75.7
8
9
45
Z.1, September 12,1996
F.215 Bank Loans Not Elsewhere Classified
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1
Total loans by commercial
banking, flow of (Unds basis
1991
1992
1993
1994
1995
------------------- 1995 ------------------Ql
Q2
Q3
Q4
------ 1996 -----Ql
Q2
83.6
-3.1
183
83.6
183.7
2393
297.7
3023
197.7
1613
1623
139.6
1
2.8
78.6
1.9
-2.0
-2.0
31.9
-143
10.6
-1.4
19.2
-6.9
16.9
-1.9
473
34.2
12.7
-13
65.4
63.2
-5.7
-0.1
77.0
44.8
4.6
-5.0
114.3
37.9
1.5
4.6
90.6
50.3
31.6
-1.0
67.9
48.7
-93
0.9
35.2
42.4
-5.7
1.7
63.0
10.6
25.1
-4.7
26.2
24.3
-243
2
3
4
5
12
-29.1
-93
•83
623
1133
149.0
1253
913
883
613
1183
6
7
8
9
10
- Loans elsewhere classified:
2
3
4
5
6
Open market paper
Mortgages
Consumer credit
Security credit
■ Banking sector total bank loans nxx.
7
8
9
10
U.S.-chartered commercial banks
Foreign banking offices in U.S.
Bank holding companies
Banks in U.S.-affiliated areas
-7.8
6.9
-0.2
3.3
-533
29.3
-1.9
-3.0
-19.7
9.9
0.4
0.2
7.6
-13.7
-1.8
-03
453
15.1
-0.1
1.7
75.8
35.40.4
1.8
104.7
40.7
2.6
1.1
83.6
40.4
-1.0
2.2
60.4
30.3
-1.2
1.8
543
30.3
1.4
2.1
37.1
24.3
-13
2.1
69.9
46.0
0.3
2.1
11
+ Loans from Federal Reserve banks
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
11
12
- Total bank loans n.e.c.
12
-29.1
-93
-83
623
1133
149.0
1253
913
883
613
1183
12
13
Net change in liabilities
12
-29.1
-93
-83
623
1133
149.0
1253
913
883
613
1183
13
14
Nonfinancial sectors
-23
-37.8
-11.4
43
743
108.0
154.0
104.6
83.3
90.1
47.1
94.7
14
15
16
17
18
Household sector
Corporate business
Nonfarm noncorporate business
Farm business
-63
2.7
2.1
2.1
-3.4
-37.8
-1.4
1.7
2.7
-19.3
2.7
0.1
7.1
-6.0
0.6
2.1
11.3
47.4
123
1.9
13.2
71.8
133
1.1
13.8
111.8
20.0
0.3
53
75.3
16.0
2.2
6.8
56.6
10.0
1.8
26.8
43.4
8.0
-0.0
-16.9
42.6
14.0
-1.3
26.4
34.0
16.0
3.2
15
16
17
18
19
20
21
22
Restof the world
Foreign official institutions
Foreign banks
Other foreign
-2.9
-03
-2.7
0.4
3.1
-0.4
1.0
23
2.3
1.0
0.7
0.6
0.7
-1.0
13
03
1.4
-03
0.0
1.6
83
0.4
2.1
5.9
8.1
13
0.3
6.3
5.6
-1.7
2.6
4.7
8.2
0.8
4.1
3.3
11.9
1.0
13
9.4
8.7
-1.4
4.9
53
153
4.4
3.9
6.9
19
20
21
22
4.7
8.8
2.2
-13.0
-12.3
5.5
-5.0
20.7
7.9
-1.8
14.9
23.6
23
03
4.0
-0.0
0.3
-0.7
11.3
-2.4
0.6
-0.0
-4.6
8.0
-1.3
-03
-12.3
0.0
-0.2
0.9
-4.2
-113
23
53
1.9
0.4
-2.0
2.8
1.7
-7.4
-2.1
5.1
2.8
14.8
-2.1
4.4
1.6
4.0
-2.1
8.7
1.4
-10.0
-1.9
2.7
4.1
10.0
-1.9
-1.9
11.2
16.0
-1.7
24
25
26
27
23
24
25
26
27
Financial sectors
Savings institutions
Flnanoe companies
Mortgage companies
RETTs
46
Zl, September 12, 1996
F.216 Other Loans and Advances
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
Ql
8.0
71.7
Q4
------ 1996 -----Q2
Ql
563
533
422
90.7
31.1
833
1
33
-43
-6.9
-103
-94
-104
32
2
-53
0.8
1.9
-23
-13
-1.1
0.0
-4.7
0.7
1.8
-22
-1.3
0.9
0.0
-5.2
0.7
1.8
-2.4
-1.4
3.4
0.0
-5.7
0.8
1.9
-2.7
-13
-3.6
0.0
32
0.9
1.9
-2.9
-1.6
-1.4
0.0
-6.8
1.0
2.0
-3.1
-1.7
-1.7
0.0
-7.3
1.0
2.0
-3.3
-1.8
1.2
0.0
3
4
5
6
7
8
9
23
-03
-113
3.7
23
13
-62
122
10
23
3.9^
-11.9
3.7
2.8
1.9
-62
122
11
34
73
-03
-24
-62
3.0
-3.7
12
3.8
0.3
63
0.9
13
-2.3
-7.6
4.9
-3.8
-2.4
0.1
2.8
-3.4
3.3
13
14
-03
23
63
0.7
13
03
34
33
15
-0.3
-0.3
12
12
3.3
3.3
0.4
0.4
0.9
0.9
0.4
0.4
1.8
1.8
1.8
1.8
16
17
1
37.1
-95.6
2
U.S. government loans
-1.9
-43
03
-23
-102
3
4
5
6
7
8
9
liab.: Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
Farm business
State and local governments
Rest of the world
Government-sponsored enterprises
3.0
-0.8
-1.3
0.2
0.9
-3.7
-0.1
22
-0.8
0.1
-1.4
0.4
-5.4
-0.0
0.7
-0.1
-0.3
-0.4
-0.1
02
-0.0
-1.2
02
0.6
-0.7
-0.6
-1.1
0.0
-3.4
03
1.4
-1.6
-1.1
-1.3
-4.8
10
Foreign loans to US. eorporate busineas
50.1
-473
43
-163
11
Liab.: Nonfinancial corporate business
50.1
-47.3
4.9
-163
12
Customers liability on acceptances
outstanding (Commercial banking asset)
-93
-102
•34
-6.4
-24
13
14
liab.: Nonfinancial corporate business
Rest of the world
-6.6
-32
-5.9
-4.4
-2.9
-0.7
-3.3
-3.1
-2.1
-0.3
15
Savings institution loans to business
-12.7
-103
-10.1
-13
16
17
liab.: Nonfinancial corporate business
Nonfarm noncorporate business
-6.3
-6.3
-5.3
-5.3
-5.0
-5.0
-0.8
-0.8
18
Policy loans (Household liability)
19
20
Asset Federal government
life insurance compenies
21
22
23
24
25
26
27
28
29
30
31
32
33
83
------- 1995 ---------Q2
Q3
603
4.1
43
5.7
-0.0
5.7
103
62
63
93
194
74
63
18
-0.0
4.8
5.7
-0.0
5.7
73
-0.0
4.1
0.0
7.8
0.0
10.4
0.0
62
0.0
6.7
0.0
9.3
0.0
19.6
0.0
7.4
0.0
6.8
19
20
Govt-sponsored enterprises loans
-193
-322
3.7
263
272
122
-144
74
12.9
423
63
563
21
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)
33
02
0.3
2.0
-25.9
0.0
0.0
22
1.4
1.4
2.7
-39.9
0.0
0.0
2.9
12
02
3.2
-3.8
0.0
0.0
2.7
12
02
8.6
13.3
0.2
02
3.7
0.0
0.8
9.3
12.7
0.2
0.3
4.9
23
1.4
62
-2.6
3.1
3.1
4.3
4.8
1.0
-2.6
-21.6
3.3
3.0
6.7
-1.9
1.6
13.7
-12.4
3.1
0.1
33
2.3
2.2
42
0.6
0.1
3.1
4.9
4.7
0.8
9.3
23.1
0.0
3.4
4.0
5.9
2.1
-16.9
9.1
3.1
23
93
-3.6
2.0
5.3
432
32
0.3
22
23
24
25
26
27
28
ABS issuers loans to busineas
33
33
23
103
42
63
4.7
93
44
83
2.7
104
29
Liab.: Nonfinancial corporate business
3.8
3.0
2.8
10.0
42
6.8
4.7
93
4.4
8.8
2.7
10.4
30
Finance company loans to business
233
23
53
-6.7
43.0
383
62.7
333
243
32.7
243
64
31
Liab.: Nonfinancial corporate business
Nonfarm noncorporate business
21.1
2.3
1.8
0.2
5.0
0.6
-6.0
-0.7
38.7
4.3
343
3.8
563
6.3
30.0
3.3
22.0
2.4
29.4
3.3
22.0
2.4
5.7
0.6
32
33
47
Z.1, September 12,1996
F.217 Total Mortgages
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
------------------- 1995 ------------------Q2
Q3
Q4
Ql
------ 1996 -----Q2
Ql
1
Net change in mortgages
233.0
1585
1315
1605
204.1
2333
2312
2452
2602
197 £
3455
312.1
1
2
3
4
5
Home
Multifamily residential
Commercial
Farm
226.3
1.7
65
-1.6
173.6
-5.4
-9.7
0.4
187.6
-10.2
-47.4
1.4
187.9
-4.9
-22.6
05
202.4
45
-4.6
1.8
196.7
12.6
225
1.6
1992
45
25.9
1.6
207.7
16.0
19.8
1.7
221.4
15.4
212
2.2
158.7
14.6
23.2
1.1
292.9
162
34.4
2.4
245.9
19.6
41.5
5.1
2
3
4
5
233.0
1585
1315
1605
204.1
2333
2312
2452
2602
197.6
3455
312.1
6
Household sector
240.2
183.9
172.0
166.9
208.4
210.0
2045
224.3
240.3
171.0
315.1
273.0
7
8
9
10
11
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
-7.8
-10.3
4.1
-1.6
-255
-20.0
-5.9
0.4
-41.1
-275
-15.1
1.4
-9.7
-162
6.1
05
-14.1
-10.0
-5.9
1.8
18.2
6.7
9.9
1.6
215
95
10.4
1.6
15.7
3.0
11.0
1.7
14.6
3.4
9.0
2.2
21.1
10.8
9.3
1.1
25.4
9.0
14.0
2.4
33.4
10.2
18.0
5.1
8
9
10
11
12
13
Federal government
REITs
-0.0
0.6
0.0
0J5
-0.0
0.6
-0.0
3.6
0.0
9.8
0.0
5.3
0.0
52
0.0
52
0.0
5.2
0.0
5.6
0.0
55
0.0
5.8
12
13
14
Net change in assets
233.0
1585
1315
1603
204.1
2333
2312
2452
2602
1975
3455
312.1
14
6
7
Net borrowing
15
16
17
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
18.6
-1.6
-4.1
8.1
6.2
-5.0
7.1
1.1
-0.9
19.7
-7.8
0.1
92
1.9
0.1
7.0
7.3
0.3
46.8
6.0
-02
15.3
6.0
0.4
-37.0
8.0
0.4
2.6
92
0.4
56.7
8.0
0.4
20.1
6.0
0.4
15
16
17
18
19
State and local governments
Federal government
5.3
35.6
35
15.4
-0.0
-11.9
-5.4
-15.4
22
-14.0
3.3
-13.4
5.1
-8.4
45
-17.4
05
-132
3.1
-14.7
2.0
-9.6
1.9
-5.6
18
19
20
21
22
23
Commercial banking
Savings institutions (1)
Credit unions
Bank personal trusts and estates
78.6
-995
4.9
0.1
31.9
-96.3
3.1
-0.1
192
-77.4
3.3
-0.2
472
-29.6
-0.1
-0.3
65.4
-2.1
6.1
-02
77.0
0.6
4.4
05
114.3
22.3
75
0.3
90.6
-8.1
15
05
67.9
195
5.2
0.6
35.2
-31.3
3.2
05
63.0
-35
55
05
26.2
41.0
13.2
0.3
20
21
22
23
24
25
26
27
Life insurance companies
Other insurance companies
Private pension funds
State and local govt retirement funds
13.6
0.4
0.1
0.8
-2.6
-0.4
-62
0.8
-18.6
-0.6
-3.7
-0.4
-17.6
-1.4
0.6
-1.9
-13.7
-0.7
1.1
0.7
-35
-1.0
1.0
0.7
-0.6
-1.0
0.9
0.8
0.8
-1.0
1.0
0.6
10.0
-1.0
0.4
0.8
-24.3
-0.9
1.6
0.8
-0.5
-1.0
2.3
0.8
-4.7
-1.0
15
0.8
24
25
26
27
28
29
30
Government-sponsored enterprises (1)
Federally related mortgage pools
ABS issuers
5.7
150.3
125
11.7
136.6
40.9
32.1
115.6
60.6
43.7
83.6
45.6
4.8
1165
38.3
7.6
982
37.1
-4.1
23.8
21.1
4.6
69.3
34.4
18.1
1262
335
11.8
1735
595
55
1065
46.7
10.9
169.1
30.6
28
29
30
31
32
33
Finance companies
Mortgage companies
REITs
12 J
-0.0
-0.7
0.9
11.2
-0.7
5.1
0.1
1.1
-05
-0.0
0.6
6.8
-22.9
4.7
8.1
-3.4
1.8
9.1
-14.4
1.8
10.4
29.9
1.8
11.1
7.3
1.8
1.9
-36.4
1.9
9.8
51.0
1.9
162
-16.4
1.7
31
32
33
(1) FHLB loans to savings institutions are included in other loans and advances.
48
Z.1, September 12, 1996
F.218 Home Mortgages (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
1995
Ql
Q2
Q3
Q4
------ 1996 -----Q2
Ql
226-3
1733
1873
1875
2024
196.7
1992
207.7
221.4
158.7
2925
2455
1
224.8
0.6
0.9
164.1
0.4
9.1
161.1
03
26.0
152.1
0.6
35.2
1943
0.6
7.3
195.9
0.6
02
191.0
0.6
7.6
206.0
0.6
1.1
222.7
0.6
-2.0
163.8
0.6
-5.7
296.3
0.6
-4.0
2473
0.6
-2.3
2
3
4
2263
1733
1873
1875
202.4
196.7
1992
207.7
221.4
158.7
2925
245.9
5
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
22.1
-4.7
-2.6
7.8
33
-0.7
6.3
2.4
0.6
19.0
-93
4.2
7.7
2.4
2.8
6.6
46
02
46.7
3.6
0.1
13.6
3.0
02
-372
5.3
0.2
3.4
6.7
02
55.9
48
02
17.9
03
0.2
6
7
8
9
10
State and local governments
Federal government
3.6
16.6
2.0
-0.9
-0.6
-2.0
-6.0
-72
1.0
-5.4
3.2
-5.8
4.7
-40
33
-8.7
1.8
-3.7
2.8
-7.0
12
-6.4
2.0
-2.8
9
10
11
12
13
14
Commercial banking
Savings institutions
Credit unions
Bank personal trusts and estates
66.5
-60.0
4.9
0.1
27.6
-61.8
3.1
-0.1
25.1
-48.7
3.3
-0.2
49.9
-19.7
-0.1
-0.3
55.8
73
6.1
-02
52.8
5.3
44
03
863
243
73
0.3
73.2
-63
13
03
42.4
28.6
52
0.6
9.2
-253
32
03
42.0
2.4
53
03
-3.4
37.3
13.2
0.3
11
12
13
14
15
16
17
Life insurance companies
Private pension funds
State and local govt retirement funds
0.8
32
0.1
-13
-46
0.2
-0.1
-0.9
-0.3
-2.0
0.1
0.1
-13
0.3
0.4
-0.4
02
03
-1.3
0.3
03
0.1
0.2
03
0.4
0.1
03
-0.9
0.4
03
-0.0
03
03
-02
0.3
0.6
15
16
17
18
19
20
Government-sponsored enterprises
Federally related mortgage pools
ABS issuers
5.3
147.3
11.6
10.9
139.3
36.6
303
117.8
49.2
42.2
85.0
32.9
3.9
1163
20.8
6.9
93.7
202
-32
24.7
13.7
43
62.7
192
16.7
122.9
20.1
9.7
1647
27.8
3.0
102.8
19.0
92
164.6
8.0
18
19
20
21
22
23
Finance companies
Mortgage companies
REITs
123
-0.9
-0.0
0.9
11.3
-0.1
5.1
-0.4
03
-03
-03
0.1
6.8
-22.9
03
8.1
-43
02
9.1
-14.8
0.2
10.4
29.7
0.2
11.1
6.2
0.2
1.9
-392
02
9.8
50.9
02
162
-18.0
0.2
21
22
23
1
2
3
4
5
6
7
s
Net borrowing
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
Net change in assets
(1) Mortgages on 1-4 family structures.
F.219 Multifamily Residential Mortgages
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1.7
-5.4
-102
-45
45
123
43
16.0
15.4
143
162
193
1
2
3
Nonfinancial corporate business
Nonfarm noncorporate business
0.6
0.9
0.4
-6.0
03
-10.9
0.6
-6.6
0.6
0.7
0.6
10.3
0.6
22
0.6
13.6
0.6
13.0
0.6
122
0.6
13.7
0.6
17.1
2
3
4
5
Federal government
REITs
-0.0
02
0.0
02
-0.0
0.2
-0.0
12
0.0
3.2
0.0
1.8
0.0
1.7
0.0
1.7
0.0
1.7
0.0
1.8
0.0
1.8
0.0
1.9
4
5
6
Net change in assets
1
Net borrowing
1.7
-54
-102
-45
45
123
45
16.0
154
143
162
193
6
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
-12
-0.8
0.8
-0.6
-0.6
-0.6
-0.1
-0.1
-0.1
0.4
0.4
-0.9
0.6
0.6
-1.0
0.3
0.2
-0.0
0.3
0.3
-0.4
03
-0.0
0.1
0.1
0.3
0.1
02
0.2
0.1
0.0
0.4
0.1
0.0
0.6
0.1
7
8
9
10
11
State and local governments
Federal government
1.0
10.6
1.0
8.9
0.7
-4.2
0.4
-43
0.7
-2.6
0.6
-4.7
0.9
-2.3
0.7
-6.2
0.4
-6.1
0.6
-4.0
0.9
-13
0.6
-0.6
10
11
12
13
Commercial hanking
-1.9
-142
-0.1
-11.9
1.1
-10.1
0.6
-2.4
0.3
-3.0
4.9
-23
3.3
-23
3.4
23
9.6
-3.3
3.4
-6.6
3.4
-6.0
2.1
1.2
12
13
14
15
16
Life insurance companies
Private pension funds
State and local govt retirement funds
2.1
0.1
-02
0.6
-3.3
-0.2
-1.8
-02
-0.7
-2.0
0.0
-0.1
-13
0.1
02
-0.4
0.0
02
-0.1
0.0
02
0.2
0.0
02
12
0.0
0.2
-2.9
0.1
0.2
-0.1
0.1
0.2
-0.6
0.1
0.2
14
15
16
17
18
19
Government-sponsored enterprises
Federally related mortgage pools
ABS issuers
12
3.0
0.3
1.4
-2.6
3.0
1.6
-2.3
2.6
1.7
-1.4
2.4
0.9
-0.0
62
0.8
43
6.4
1.0
-0.9
3.3
0.3
6.6
6.2
0.9
3.3
63
1.0
8.9
93
0.7
3.6
12.8
-0.1
43
8.9
17
18
19
20
21
Mortgage companies
REITs
1.0
-02
-0.1
-0.1
0.3
3.1
0.1
0.4
0.0
3.1
1.1
12
0.3
12
02
1.2
1.1
12
2.8
12
0.1
1.3
1.6
1.1
20
21
7
8
9
Savings institutions
49
Z.1, September 12,1996
F.220 Commercial Mortgages
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
------------------- 1995 ------------------Q4
Q2
Q3
Ql
------ 1996 -----Q2
Ql
63
-9.7
-47.4
-223
-43
223
253
193
212
232
344
413
1
15.3
-113
2.2
0.4
19.9
-20.8
-9.0
0.3
10.9
-283
-30.2
0.4
14.8
-17.4
-22.4
2.4
13.9
-11.2
-13.9
6.6
14.1
5.4
-0.6
3.6
133
8.2
0.6
33
18.3
1.8
-3.7
33
17.6
2.2
-2.1
33
7.2
9.5
2.8
3.7
18.8
7.7
4.2
3.7
253
8.9
3.2
3.9
2
3
4
5
63
-9.7
-474
-223
-43
223
253
193
212
232
344
413
6
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
-0.7
3.8
-2.4
-0.1
3.4
-3.8
0.9
-1.2
-1.4
1.6
1.3
-3.3
2.2
-1.0
-1.8
-0.2
2.5
0.1
0.0
2.2
0.1
0.0
3.0
0.1
-0.4
2.4
0.1
-03
2.4
0.1
-0.8
2.8
0.1
-1.0
4.9
0.1
7
8
9
10
11
State and local governments
Federal government
0.7
9.0
0.6
7.7
-0.1
-6.6
0.2
-43
03
-7.3
-03
-3.1
-03
-2.9
02
-2.8
-1.6
-3.3
-0.3
-3.1
02
-0.7
-03
-0.8
10
11
12
13
Commercial banking
Savings institutions
13.4
-25.2
3.1
-22.4
-8.4
-18.5
-4.3
-73
7.6
-6.7
18.0
-2.2
23.0
0.3
123
-4.1
14.8
-5.8
213
0.8
172
0.0
26.0
23
12
13
14
15
16
17
Life insurance companies
Other insurance companies
Private pension funds
State and local govt retirement funds
9.6
0.4
-3.3
0.9
-1.0
-0.4
1.6
0.8
-15.8
-0.6
-2.6
0.6
-14.0
-1.4
0.4
-1.9
-10.8
-0.7
0.8
0.1
-2.8
-1.0
0.7
0.0
-03
-1.0
0.6
0.1
1.7
-1.0
0.7
-0.1
8.3
-1.0
0.3
0.0
-203
-0.9
12
0.0
-0.4
-1.0
1.7
-0.0
-4.0
-1.0
1.1
0.0
14
15
16
17
18
19
20
ABS issuers
Mortgage companies
REITs
0.7
-0.0
-03
1.3
0.0
-03
8.7
0.3
-23
10.3
0.3
0.1
11.3
0.0
1.1
10.6
0.0
0.4
4.2
0.0
0.4
9.1
0.0
0.4
7.0
0.0
0.4
22.2
0.0
03
14.9
0.0
03
13.7
0.0
0.4
18
19
20
1
2
3
4
5
6
7
8
9
Net borrowing
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
REITs
Net change in assets
F.221 Farm Mortgages
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
Net borrowing (Farm business)
-13
04
14
03
13
13
13
1.7
22
1.1
24
5.1
1
2
Net change in assets
-13
04
14
03
13
13
13
1.7
22
1.1
24
5.1
2
3
4
Household sector
Nonfarm noncorporate business
-1.6
0.0
0.9
0.0
0.1
0.0
-1.3
0.0
-1.3
0.0
0.3
0.0
-0.1
0.0
12
0.0
03
0.0
-03
0.0
1.4
0.0
3.2
0.0
3
4
5
6
State and local governments
Federal government
-0.0
-0.7
-0.0
-0.4
-0.0
0.9
-0.0
0.7
-0.0
12
-0.0
02
-0.0
0.9
0.0
0.4
-0.0
-0.1
-0.0
-0.6
-0.3
-0.9
-0.1
-1.3
5
6
7
8
Commercial banking
Savings institutions
0.6
-0.2
1.2
-0.1
1.4
-0.1
1.0
-0.0
1.7
-0.0
1.3
-0.0
1.4
-0.0
13
-0.0
1.0
0.0
1.1
-0.0
0.4
0.0
13
0.1
7
8
9
10
Life insurance companies
State and local govt retirement funds
12
0.0
-0.7
0.0
-0.8
0.0
0.3
0.0
0.1
0.0
0.1
0.0
1.3
0.0
-1.2
0.0
02
0.0
-0.0
0.0
-0.0
0.0
0.0
0.0
9
10
11
12
Government-sponsored enterprises
Federally related mortgage pools
-0.9
-0.0
-03
-0.0
-0.1
-0.0
-0.2
-0.0
0.1
-0.0
-0.1
-0.0
-1.9
-0.0
-02
0.0
0.6
0.0
1.0
-0.0
1.7
0.0
1.8
0.0
11
12
50
Z.1, September 12, 1996
F.222 Consumer Credit
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
Ql
------- 1995 --------Q3
Q2
Q4
------ 1996 -----Q2
Ql
1
Net change in liabilities (Households)
16.1
-13.7
54
615
1265
1414
136.7
155.1
156.9
117.7
129.7
81.1
1
2
Net change in assets
16.1
-13.7
5.0
615
1265
1414
136.7
155.1
1565
117.7
129.7
81.1
2
3.3
0.0
-4.2
0.0
2.8
0.0
6.9
0.0
9.4
0.0
-1.6
0.0
37.3
0.0
1.6
0.0
-11.8
0.0
-33.3
0.0
505
0.0
-27.3
0.0
3
4
1.9
-12.9
-0.1
-145
-1.3
-6.9
-4.8
-0.9
342
03
122
632
0.6
18.0
44.8
1.6
12.3
37.9
-3.8
14.0
50.3
3.9
14.8
48.7
4.8
10.1
42.4
1.6
105
10.6
2.6
5.9
24.3
-1.8
8.7
5
6
7
302
-6.4
25.9
-12.1
18.0
-32
9.6
-1.8
16.7
18.4
66.6
17.8 _
38.1
132
61.0
23.6
89.9
152
77.3
192
535
6.6
60.7
16.4
8
9
574
1145
944
844
722
1285
93.1
724
1875
1
3
4
Nonfinancial corporate business
Nonfarm noncorporate business
5
6
7
Commercial banking
Sevings institutions
Credit unions
8
9
ABS issuers
Finance companies
-15
F.223 Trade Credit
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
Net change in trade payables
354
31.0
464
2
Household sector
11.3
8.8
4.7
7.4
75
9.4
9.3
9.4
9.3
9.4
9.6
9.6
2
3
4
5
Nonfinancial oorporate business
Nonfarm noncorporate business
Farm business
28.4
1.3
05
23.1
-0.3
0.2
33.4
6.9
02
36.4
2.6
1.0
91.8
2.7
0.3
67.4
4.0
05
68.7
3.4
05
405
3.8
05
1075
42
0.6
53.1
4.6
0.6
62.7
4.4
0.6
137.4
52
0.6
3
4
5
6
7
State and local governments
Federal government
3.1
-5.7
0.8
-5.3
2.3
-2.8
0.6
3.4
0.4
8.9
02
6.0
0.3
1.3
02
2.1
02
8.4
0.1
12.1
0.1
12
0.0
35.8
6
7
8
9
Rest of the world
Brokers and dealers
-12
-1.9
3.0
0.7
12
0.6
3.3
2.7
3.6
-0.9
5.7
1.1
0.9
-0.6
14.4
1.3
-4.6
2.7
12.2
1.1
-11.2
5.4
-6.8
55
8
9
463
-5.1
355
614
117.1
118.1
36.1
384
1835
2145
294
2065
10
181.0
5.4
11
12
10
Net change in trade receivables
11
12
Nonfinancial corporate business
Nonfarm noncorporate business
292
2.7
-5.8
-1.1
27.6
7.1
50.7
3.8
106.3
4.0
87.3
5.0
17.6
45
252
4.8
160.6
5.1
145.8
5.4
-10.4
5.6
13
14
Federal government
Rest of the world
-1.9
6.2
-4.9
0.8
-7.1
3.0
-2.6
4.9
-42
2.1
-0.1
1.0
-1.7
-0.8
-1.7
-6.6
-12
3.1
4.1
8.1
6.3
3.7
5.0
4.8
13
14
15
16
Other insurance companies
ABS issuers
2.0
8.7
1.9
4.1
-0.1
4.8
1.7
25
22
6.7
4.4
20.7
4.4
12.0
4.4
12.3
4.4
11.9
4.4
465
4.4
19.9
4.4
8.0
15
16
-112
36.1
11.3
-3.6
-2.8
-23.7
48.0
33.8
-55.6
-1212
43.3
-212
17
17
Discrepancy
F.224 Security Credit
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
Net change in liabilities
35
514
44
614
4.1
26.7
-54
30.1
325
49.7
1204
-485
1
2
3
Household sector
Rest of the world
-3.7
0.0
16.3
0.0
-1.6
0.0
22.6
0.0
-1.1
0.0
35
0.0
-22.7
0.0
-2.7
0.0
34.7
0.0
4.9
0.0
42.1
0.0
2.6
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.
7.2
92
-5.4
3.4
35.2
24.6
22
8.4
62
-10.8
3.1
13.9
38.7
26.0
41
8.6
1.0
6.7
-4.6
-12
23.1
18.6
8.3
-3.7
17.3
15.8
-2.8
4.3
32.8
1.1
24.6
7.0
-2.4
6.9
-11.3
2.0
44.8
505
22.5
-28.2
785
535
-8.1
33.2
-50.9
-26.4
-14.8
-9.6
4
5
6
7
8
Net change in assets
35
514
44
614
-0.1
26.7
-54
30.1
325
49.7
1204
-485
8
9
10
Household sector
Rest of the world
9.2
0.0
24.6
0.0
-10.8
0.0
26.0
0.0
6.7
0.0
18.6
0.0
15.8
0.0
1.1
0.0
6.9
0.0
50.5
0.0
535
0.0
-26.4
0.0
9
10
11
12
Commercial banking
Brokers and dealers
-2.0
-3.7
10.6
16.3
16.9
-1.6
12.7
22.6
-5.7
-1.1
4.6
35
15
-22.7
31.6
-2.7
-92
34.7
-5.7
4.9
25.1
42.1
-24.5
2.6
11
12
51
Z.1, September 12,1996
F.225 Life Insurance and Pension Fund Reserves
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
------------------- 1995 ------------------Ql
Q2
Q3
Q4
------ 1996 -----Ql
Q2
Life insurance reserves:
1
2
3
4
Net change in liabilities
Federal government
Life insurance companies
Net change in assets (Households)
25.7
25.7
273
353
34.0
44.7
513
563
34.0
37.0
21.1
693
1
0.4
25.3
0.1
25.6
-0.4
27.7
-0.5
35.7
-0.3
34.3
-0.1
44.8
-02
51.8
-0.1
56.4
-0.1
34.1
-0.0
37.0
0.0
21.1
0.1
69.8
2
3
25.7
25.7
273
353
34.0
44.7
513
563
34.0
37.0
21.1
693
4
Pension fund reserves:
2435
1982
238.6
2473
248.0
2413
268.1
286.7
2133
199.0
2433
206.1
5
6
7
Federal government
Life insurance companies
21.7
95.9
253
46.4
273
76.7
27.6
86.3
27.8
71.2
15.9
66.7
27.1
62.1
30.4
69.0
29.5
64.1
-23.4
71.6
82.6
44.2
34.7
323
6
7
8
9
Private pension funds (1)
State and local govt retirement funds
64.1
61.9
72.5
53.8
81.8
52.7
82.7
50.6
87.2
61.8
98.3
61.0
119.4
59.4
128.1
59.3
55.7
64.6
90.0
60.9
49.9
66.9
80.8
60.1
8
9
2435
1982
238.6
2473
248.0
2413
268.1
286.7
2133
199.0
2433
206.1
10
5
10
Net change in liabilities
Net change in assets (Households)
(1) Includes unallocated insurance company contracts beginning in 1985:Q4.
F.226 Taxes Payable by Businesses
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
Net change in taxes payable by all
<43
-74
9.7
53
33
13
12.0
1.0
24
<103
53
7.1
1
2
3
Nonfinancial corporate business
Nonfarm noncorporate business
-5.0
0.6
-8.2
03
73
0.6
2.0
0.7
2.4
0.8
-0.8
0.8
9.0
0.8
-0.7
0.8
-0.7
0.8
-10.7
0.8
3.9
0.8
5.9
0.8
2
3
4
5
U.S.-chartered commercial banks
Savings institutions
-03
-0.2
-0.0
03
03
0.2
03
0.6
0.7
-0.9
0.9
03
0.8
1.0
0.9
-0.3
1.0
1.4
1.0
-0.1
1.1
0.3
1.1
-0.8
4
5
6
7
Life insurance companies
Other insurance companies
-0.1
-0.1
-0.0
0.0
0.8
0.3
0.6
0.2
0.1
0.1
-0.3
-0.0
-0.1
0.0
-0.2
-0.0
-0.3
-0.1
-0.4
-0.1
-03
-0.1
-0.6
-0.1
6
7
8
9
Finance companies
Brokers and dealers
03
0.1
-0.1
03
03
0.0
03
03
03
-0.2
03
-0.1
0.2
0.3
03
0.3
03
0.0
03
-0.9
03
-03
03
03
8
9
10
11
12
13
Net change in business taxes receivable
State and local governments
Federal government
Discrepancy
<3.1
-53
<23
-55
-54
<74
195
-30.0
-63
<124
283
<18.0
10
-0.5
-2.6
2.1
-7.4
0.3
-2.6
-3.8
-2.1
-5.1
-0.3
-6.1
-1.3
-10.2
29.7
-2.8
-273
-7.2
0.3
-4.2
-83
-33
32.0
-1.6
-163
11
12
-1.7
-23
11.9
11.1
8.6
8.7
-7.5
31.0
9.3
2.2
-23.3
25.1
13
F.227 Investment in Bank Personal Trusts and Estates
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
Liab.: Bank personal trusts and estates
29.7
16.1
<7.1
13
185
-47.7
-443
-453
-633
-37.1
-473
-203
1
2
Asset: Household sector
29.7
16.1
-7.1
13
183
-47.7
-443
-453
-633
-37.1
-473
-203
2
F.228 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
103
05
16.7
34
235
423
303
423
543
433
403
30.0
1
20.6
-3.5
-6.2
03
-10.0
10.4
11.6
-2.3
7.4
93
-133
7.4
23.5
6.5
-6.4
34.3
-4.8
13.4
20.4
-3.9
14.1
37.4
-5.9
10.8
42.6
-6.9
193
36.9
-2.6
9.4
305
-4.7
14.7
35.1
-9.6
45
2
3
4
52
Zl, September 12, 1996
F.229 Total Miscellaneous Financial Claims
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
Ql
1
Net change in liabilities
------- 1995 --------Q3
Q2
Q4
------ 1996 -----Q2
Ql
161.9
2782
2805
35821
2605
500.1
316.0
4845
396.9
8025
542.0
280.7
1
2
3
4
Household sector
Nonfinancial oorporate business
Nonfarm noncorporate business
0.1
113.1
-9.4
-0.7
87.0
13.2
0.0
595
75
0.9
111.7
35
0.9
60.4
3.8
0.9
150.1
5.7
0.9
-19.7
4.7
0.9
208.6
5.4
0.9
178.3
6.0
0.9
233.3
6.6
0.9
272.0
6.4
0.8
9.7
6.4
2
3
4
5
6
Federal government
Restof the world
-17.1
30.0
14.3
21.6
-0.1
58.1
0.7
1132
3.9
59.6
45
120.4
-24.0
79.8
5.4
154.3
22.3
21.3
14.3
226.3
-145
1262
8.7
87.1
5
6
7
8
9
10
Monetary authority
Commercial banking
Savings institutions
Credit unions
-5.6
4.6
15.9
0.2
1.1
47.6
-12
0.6
-1.8
74.9
05
0.1
1.0
95.8
-3.8
05
1.3
77.3
3.7
1.4
12
112.7
-0.6
-1.9
-0.6
156.8
3.6
-3.4
-6.8
2.3
-8.2
-1.9
9.4
78.9
5.7
-1.8
3.0
212.9
-3.7
-0.6
-12.8
-66.3
-145
25
-7.6
131.0
10.2
-1.4
7
8
9
10
11
12
Life insurance companies
Other insurance companies
-10.8
265
24.7
155
-2.1
23.1
2.4
15.8
142
15.9
11.3
53.1
32.0
51.4
16.9
56.4
-35
535
-0.3
50.9
-16.4
55.1
2.9
52.9
11
12
13
14
15
Government-sponsored enterprises
Finance companies
Mortgage companies
4.6
7.8
0.0
7.8
3.7
13.6
125
42
-7.9
-4.9
14.7
-0.1
-24.9
25.9
-115
6.1
27.6
-3.8
-15.2
35.7
-7.0
23.1
32.3
15.1
9.9
5.4
3.3
6.4
37.1
-26.4
5.2
-10.9
41.0
-20.0
-3.1
-32.4
13
14
15
16
17
18
RETTs
Brokers and dealers
Funding corporations
-0.9
5.0
-2.0
1.6
4.0
23.8
0.6
12.9
38.4
-0.1
15.7
-8.3
2.9
1.3
24.7
12
11.2
0.4
0.8
-11.3
31.6
1.7
102
-30.9
1.7
13.1
-7.4
0.8
32.7
8.4
1.3
-15.8
182.8
0.6
2.4
32.4
16
17
18
2375
268.4
2805
4925
373.0
5135
5802
4332
4345
605.0
7375
2925
19
182
104.4
-9.8
2.0
9.6
86.9
-0.9
1.3
17.0
96.6
3.6
2.0
13.1
261.3
4.4
15
10.6
111.1
45
2.0
49.8
205.7
5.0
2.7
51.0
252.6
52
2.3
52.3
186.0
5.0
25
47.3
1272
5.0
2.8
48.7
257.1
5.0
32
49.7
375.9
4.9
32
56.4
105.8
4.8
35
20
21
22
23
34.2
40.2
36.1
70.1
15.4
26.3
-3.8
63.4
3.3
60.6
-2.4
89.9
-162
70.3
-5.3
625
5.8
118.7
6.0
108.0
-5.8
125.3
-35
60.8
24
25
19
Net change in assets
20
21
22
23
Household sector
Nonfinancial oorporate business
Nonfarm noncorporate business
Farm business
24
25
Federal government
Restof the world
26
27
28
29
30
Monetary authority
Commercial banking
Savings institutions
Credit unions
Bank personal trusts and estates
-2.0
-21.7
11.6
2.7
-0.4
-2.3
17.0
-22.9
5.3
22
-2.2
70.0
-12.8
5.8
1.8
2.6
78.4
-262
45
35
2.6
75.4
-12.6
2.1
-3.1
-3.3
625
0.3
2.2
-1.1
0.3
91.9
-72
15
-1.7
-5.7
55.3
9.6
-4.0
-1.0
-12.3
46.1
-4.8
5.5
-0.7
4.7
565
3.6
5.6
-1.0
-5.5
52.7
-17.7
8.4
-1.1
0.2
36.1
-20.0
-6.1
-1.3
26
27
28
29
30
31
32
33
34
Life insurance companies
Other insurance companies
Private pension funds
State and local govt retirement funds
-13.8
1.4
14.2
14.9
4.4
-0.3
14.7
-21.2
-8.0
-2.7
11.7
11.1
-1.0
1.9
3.0
12.7
6.1
12.3
3.0
18.1
-60.0
-75
0.3
31.8
20.6
-1.9
-6.1
-205
15.7
1.1
17.7
10.9
0.2
23.4
4.6
6.1
0.6
40.3
-12.8
4.1
-26.4
-35.4
-9.8
4.0
24.2
-53.7
31
32
33
34
35
36
37
Money market mutual funds
Mutual funds
Government-sponsored enterprises
-35
1.7
2.4
3.7
-0.7
6.0
5.0
-52
-12.6
11.0
0.3
3.4
6.9
25
-4.6
12.8
05
52
6.8
-0.9
2.9
28.1
6.8
14.1
-12
2.8
475
17.6
-6.7
-43.9
33.4
-52
172
14.4
2.3
-22.7
35
36
37
38
39
40
41
Finance companies
REITs
Brokers and dealers
Funding corporations
9.7
-15
29.4
3.6
30.3
15
34.3
-6.6
-3.7
-12
52.6
10.4
28.0
3.0
49.6
195
12.1
-0.1
24.8
29.3
26.3
25
10.3
20.8
46.4
1.9
52.1
47.6
27.9
2.8
-61.3
12.4
-17.8
2.8
4.3
31.6
48.7
2.6
45.9
-8.1
10.7
2.9
107.8
51.4
22.4
3.0
29.4
42.0
38
39
40
41
-75.9
9.8
-02
-133.8
-112.1
-132
-264.2
51.6
-37.9
197.6
-195.6
-11.6
42
42
Discrepancy
2.8
2.7
53
Z.1, September 12,1996
F.230 Identified Miscellaneous Financial Claims - Part I
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
------------------- 1995 ------------------Ql
Q2
Q3
Q4
------ 1996 -----Ql
Q2
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
24.9
8.7
20.4
-4.3
30.4
17.7
17.0
-4.3
40.1
14.6
16.3
9.1
78.2
24.6
30.9
22.7
543
12.8
333
8.3
953
36.3
543
4.7
60.2
19.6
513
-10.9
73.0
-6.7
58.0
21.7
72.4
30.1
513
-9.2
1763
102.2
56.9
17.3
92.8
36.4
59.8
-3.4
91.9
8.9
53.1
29.8
1
2
3
4
Asset Nonfinancial corporate business
Commercial banking
Life insurance companies
Other insurance companies
Finance companies
Brokers and dealers
27.8
0.6
1.4
-5.4
0.3
29.4
-1.0
0.6
-0.3
1.3
03
35.6
2.0
0.3
-2.7
3.7
1.2
52.1
2.0
-0.1
2.8
20.4
1.0
57.8
1.4
0.1
1.1
-63
0.6
86.6
1.3
0.8
3.0
2.3
1.6.
67.0
-1.1
1.6
3.0
-10.6
0.4
50.9
1.4
1.3
0.3
18.6
0.5
79.6
2.8
-0.1
2.7
-15.1
2.4
148.8
2.0
0.4
6.1
16.3
3.0
76.3
22
0.7
4.1
6.3
3.3
803
1.8
1.6
4.0
2.0
2.0
5
6
7
8
9
10
352
0.0
4.0
1.4
1.3
2.2
03
5.1
51.4
-0.0
5.8
1.8
2.2
10.1
0.1
-11.1
49.4
-0.1
7.6
1.1
0.4
-0.7
0.4
-14.9
52.7
-0.0
-0.8
03
5.8
-5.4
0.1
-14.0
543
-0.0
92
1.9
2.1
39.8
0.3
-7.8
48.9
0.0
7.4
3.8
0.7
63
-03
-7.7
63.1
-0.0
4.0
2.6
4.3
20.8
02
19.9
75.3
-0.0
4.0
2.0
2.4
3.6
0.2
-44.5
11
12
13
14
15
16
17
18
02
Foreign direct investment in U.S. (1):
11
12
13
14
15
16
17
18
Liab.: Nonfinancial corporate business
Nonfarm noncorporate business
Commercial banking
Life insurance companies
Other insurance companies
Finance companies
Brokers and dealers
Funding corporations
57.1
0.7
0.9
1.9
23
-33
0.1
-11.8
11.8
-0.0
2.6
1.0
33
1.3
2.0
-0.1
12.8
-0.0
3.3
1.2
0.6
2.8
-2.8
2.1
-0.0
3.3
0.6
0.7
193
0.2
16.6
19
20
21
22
Asset Rest of the worid
Equity
Reinvested earnings
Intercompany accounts
47.9
562
-14.7
6.3
22.0
45.8
-193
-4.3
17.6
31.6
-13.4
-0.6
43.0
28.1
-9.2
24.1
49.8
343
43
10.7
60.2
393
13.3
7.4
43.2
45.8
13.3
-15.9
38.8
27.1
13.8
-2.2
99.9
443
13.8
41.7
59.1
40.7
12.3
6.1
114.8
70.9
13.4
30.4
42.9
34.3
15.1
-63
19
20
21
22
1.3
1.3
13
13
1.4
1.4
1.1
1.1
1.4
1.4
13
13
1.2
1.2
1.0
1.0
1.6
1.6
2.1
2.1
1.8
1.8
1.4
1.4
23
24
0.2
02
0.2
0.2
0.4
0.4
0.3
0.3
0.3
0.3
0.3
0.3
0.4
0.4
0.1
0.1
0.4
0.4
02
02
0.3
0.3
0.4
0.4
25
26
-02
Federal government equity in IBRD, etc.:
23
24
Liab.: Rest of Ute world
Asset Federal government
Federal Reserve Bank stock:
25
26
Liab.: Monetary authority
Asset Commercial banking
Equity in goek-sponsored enterprises:
27
Liab.: Government-sponsored enterprises
-23
-02
-0.1
1.7
1.9
2.0
13
1.8
2.7
2.0
2.1
3.6
27
28
29
30
31
32
33
34
35
Asset Nonfin. corporate business (FNMA)
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
-0.1
-0.2
0.0
0.1
-2.4
0.0
0.0
03
0.0
0.2
0.0
0.6
-13
0.0
0.0
0.0
-0.0
-0.1
0.0
0.7
-0.9
0.0
0.0
0.0
02
0.1
0.0
1.3
0.0
0.0
0.0
0.1
02
0.0
0.0
1.6
-0.0
0.0
0.0
0.0
0.0
-0.1
0.0
1.6
0.4
0.1
-0.0
0.1
0.1
-0.2
0.0
1.8
-02
-0.0
-0.0
0.0
0.0
-0.1
0.0
1.8
0.0
0.1
0.0
0.1
0.0
-0.1
0.0
12
13
0.1
0.0
0.0
0.0
0.1
0.0
1.4
03
0.1
-0.0
1.6
0.0
-0.1
0.0
0.8
-0.3
-0.0
0.1
1.4
0.0
0.1
0.0
0.6
13
0.0
0.0
28
29
30
31
32
33
34
35
BHC investment in subsidiaries:
36
37
38
39
40
Liab.: Commercial banking
Savings institutions
Finance companies
Mortgage companies
Brokers and dealers
5.4
-0.4
-4.0
0.0
-16.4
19.4
-1.0
-5.3
13.6
-21.6
27.8
-1.0
1.7
-7.9
93
31.6
0.4
2.4
-0.1
10.2
173
-0.0
4.2
-113
73
40.2
0.1
5.7
-3.8
6.2
51.8
0.1
3.0
-7.0
123
35.3
0.1
10.0
15.1
-1.0
45.7
0.1
3.0
3.3
-10.6
27.8
0.1
6.6
-26.4
24.1
17.0
02
0.0
41.0
-26.4
52.7
02
-2.6
-32.4
46.3
36
37
38
39
40
41
Asset Bank holding companies
-15.4
5.1
30.1
44.7
17.7
48.4
60.3
59.4
413
322
31.7
642
41
6.4
6.4
3.1
3.1
2.3
2.3
0.8
0.8
4.1
4.1
5.6
5.6
2.9
2.9
9.9
9.9
3.3
3.3
6.3
6.3
0.1
0.1
-2.6
-2.6
42
43
-1.8
5.4
-17.3
10.7
-8.8
192
2.3
172
132
16.1
3.0
17.8
14.0
33.6
1.2
112
2.3
29.3
-53
-2.6
4.0
47.4
-2.6
44.6
44
45
3.6
-6.6
10.4
193
29.3
20.8
47.6
12.4
31.6
-8.1
51.4
42.0
46
NFC investment in finance company subs.:
42
43
Liab.: Finance companies
Asset Nonfinancial corporate business
Funding corp, investment in subs.:
44
45
Liab.: Foreign banking offices in U.S.
Brokers and dealers
46
Asset Funding corporations
(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.
54
Z.1, September 12, 1996
F.231 Identified Miscellaneous Financial Claims - Part II
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
Ql
------- 1995
Q2
Q3
Q4
------ 1996
Q2
Ql
Nonofficialforeign currencies:
1
2
Liab.: Rest of the wodd
Asset Federal government
0.1
0.1
1.0
1.0
0.1
0.1
0.3
0.3
02
0.2
-0.1
-0.1
-1.6
-1.6
0.0
0.0
1.0
1.0
0.1
0.1
0.6
0.6
-0.9
-0.9
1
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
0.0
0.0
0.0
0.0
0.0
3
4
4.8
4.8
1.0
1.0
-0.9
-0.9
-7.0
-7.0
-7.8
-7.8
3.33.3
-4.8
-4.8
125
125
-4.0
-4.0
9.3
9.3
-7.0
-7.0
-10.6
-10.6
5
6
0.1
0.1
-0.7
-0.7
0.0
0.0
0.9
0.9
0.9
0.9
0.9
0.9
0.9
0.9
0.9
0.9
0.9
0.9
0.9
0.9
0.9
0.9
0.8
0.8
7
8
4.6
4.8
6.7
6.1
9.0
8.0
1.0
25
1.7
0.8
3.7
3.2
05
3.1
3.1
0.0
9.1
7.4
1.7
9
10
11
Postal Savings System deposits:
3
4
Liab.: Federal government
Asset Household sector
Deposits at Federal Home Loan Banks:
5
6
Liab.: Government-sponsored enterprises
Asset Savings institutions
Deferred and unpaid life insurance premiums:
7
8
Liab.: Household sector
Asset Life insurance companies
Life insurance company reserves:
9
10
11
Liab.: Life insurance companies
Health
Policy dividend accumulation
4.9
3.6
1.3
■02
75
6.9
0.6
05
6.7
6.6
0.1
0.8
9.0
7.9
1.1
12
Asset Household sector
4.9
4.6
75
6.7
6.7
6.1
9.0
9.0
25
3.7
3.1
9.1
12
62
52
Policy payables:
13
Liab.: Other insurance companies
24.0
12.0
22.6
15.2
145
50.8
51.0
50.6
51.4
50.2
50.8
505
13
14
15
16
17
Asset Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
Farm business
13.4
13.2
-4.8
95
135
-2.5
2.1
6.3
6.6
0.8
1.4
3.9
7.8
0.8
2.0
43.8
22
5.0
2.1
3.8
1.1
1.0
2.8
42.0
55
1.1
25
43.3
3.6
1.0
2.7
44.9
2.7
1.0
2.9
45.0
1.1
1.0
3.1
465
-0.0
1.0
3.3
47.4
-1.3
1.0
35
14
15
16
17
-6.6
-6.6
13.1
13.1
-13.9
-13.9
-11.8
-11.8
4,8
4.8
-6.4
-6.4
-2.6
-2.6
-8.1
-8.1
-7.6
-7.6
-7.2
-7.2
-13.9
-13.9
-85
-85
18
19
-2.3
-2.3
3.7
3.7
2.0
2.0
3.1
3.1
32
32
3.2
32
32
3.2
32
32
32
3.2
3.2
3.2
32
32
32
32
20
21
32.1
32.1
315
315
50.6
50.6
43.6
43.6
24.6
24.6
-55
-55
47.0
47.0
-75.1
-75.1
-115
-115
17.7
17.7
105.6
105.6
30.1
30.1
22
23
32
Unallocated insurance company contracts:
18
19
Liab.: Life insurance companies
Asset Private pension funds
Pension fund contributions payable:
20
21
Liab.: Nonfinancial corporate business
Private pension funds
Asset
Securities borrowed (net):
22
23
Liab.: Funding corporations
Asset Brokers and dealers
55
Z.1, September 12,1996
F.232 Unidentified Miscellaneous Financial Claims
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1993
1994
1995
Ql
1
Net change in liabilities
------- 1995 --------Q2
Q3
Q4
------ 1996 -----Q2
Ql
385
156.4
1105
1185
54.8
2135
-3.4
295.4
1075
454.4
1035
-37.0
1
2
3
Nonfinancial corporate business
Nonfarm noncorporate business
58.3
-10.2
71.4
13.2
44.7
7.6
106.5
3.6
22.0
3.7
953
5.7
-72.3
4.8
152.7
5.4
120.6
6.0
181.2
6.6
205.7
6.4
-68.7
6.4
2
3
4
5
6
Federal government
Rest of the world
Monetary authority
-17.1
3.7
-5.8
14.3
-11.3
0.9
-0.1
16.5
-2.2
0.7
33.6
0.6
3.9
33
1.1
43
23.5
1.0
-24.0
19.9
-1.0
5.4
80.3
-6.9
22.3
-53.7
9.0
14.3
47.6
2.8
-14.5
31.0
-13.1
8.7
-5.4
-8.0
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
0.1
0.0
-2.0
1.2
0.9
43.0
8.2
35.6
0.1
-0.9
52.7
-7.6
333
25.8
1.1
58.6
14.6
22.9
19.7
1.4
42.6
31.3
14.7
-5.2
1.8
63.7
35
42.0
15.3
2.9
83.4
-24.6
79.9
28.6
-0.6
-33.4
-100.1
47.7
14.8
4.2
21.7
36.1
-29.2
14.9
-0.1
183.2
1025
69.7
2.7
82
-91.3
-50.6
-28.6
-115
-05
76.9
33.8
39.8
45
-1.1
7
8
9
10
11
12
13
14
15
Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises
16.3
02
-10.9
2.3
-0.2
0.6
6.0
6.9
1.5
0.1
3.0
133
-4.2
03
6.9
03
3.7
1.4
1.3
-19.0
-0.7
-1.9
9.8
0.8
3.6
-3.4
243
-11.9
-8.3
-1.9
15.6
8.8
5.6
-1.8
-0.3
11.2
-3.8
-0.6
-0.6
-5.0
-14.6
25
-82
10.1
10.0
-1.4
0.3
-13.0
12
13
14
15
16
17
18
19
Finance companies
REITs
Brokers and dealers
Funding corporations
8.9
-0.9
15.9
-22.4
4.6
1.6
12.9
-7.6
-2.6
0.6
-15.6
-9.4
-8.1
-0.1
-11.9
-68.4
15.4
2.9
-22.8
-5.0
6.3
12
-13.0
17.0
303
0.8
-57.8
-03
17.7
1.7
0.0
58.3
-40.8
1.7
-5.8
11.9
17.7
0.8
11.7
-1.6
-31.8
1.3
-37.0
57.3
-15
0.6
-88.7
46.8
16
17
18
19
1144
146.7
1105
252.4
166.9
226.7
2605
2433
1455
2565
299.4
-25.4
20
20
Net change in assets
21
22
Nonfinancial corporate business
Nonfarm noncorporate business
57.0
-4.9
52.0
-4.8
45.1
6.1
201.6
3.4
41.3
33
110.2
4.0
177.2
4.0
121.6
4.0
41.4
4.0
100.8
4.0
297.9
3.9
27.8
3.8
21
22
23
24
25
Federal government
Rest of the world
Monetary authority
32.8
-7.7
-2.0
33.6
48.1
-2.3
13.9
8.7
-2.2
-5.3
20.4
2.6
1.7
10.9
2.6
-3.8
29.6
-3.3
-15.9
27.1
0.3
-6.4
23.7
-5.7
3.2
18.8
-12.3
3.8
48.9
4.7
-8.1
10.6
-55
-4.1
17.9
0.2
23
24
25
26
27
28
29
30
Commercial hanking
U.S.-chartered commercial banks
Foreign banking offices in U.S.
Bank holding companies
Banks in U.S.-affiliated areas
-6.8
3.9
-24.0
13.2
0.1
12.1
-0.7
14.9
-1.6
-03
36.8
-2.3
35.0
4.8
-0.7
30.1
-43
34.6
03
-0.4
54.5
8.4
385
7.7
-0.1
11.0
-1.3
6.1
4.6
1.6
303
38.0
-12.6
6.7
-1.6
-7.5
3.2
-9.3
-2.8
15
02
-9.3
-7.8
16.8
05
20.8
-36.8
53.9
-22
6.0
17.7
43.3
-28.8
3.9
-0.8
-30.9
155
-43.1
-3.8
05
26
27
28
29
30
31
32
33
Savings institutions
Credit unions
Bank personal trusts and estates
9.2
2.7
-0.4
-22.4
5.3
22
-11.1
5.8
1.8
-192
43
33
-4.8
2.1
-3.1
-3.4
2.1
-1.1
-2.2
15
-1.7
-2.9
-4.1
-1.0
-2.3
55
-0.7
-62
55
-1.0
-105
8.4
-1.1
-10.9
-6.1
-1.3
31
32
33
34
35
36
Life insurance companies
Private pension funds
State and local govt retirement funds
-145
23.0
14.9
4.6
-22
-21.2
-8.3
233
11.1
-1.8
2.6
-203
14.6
9.7
10.9
02
15.9
6.1
9.9
17.6
-60.0
-9.6
36.7
20.6
-2.7
4.6
23.4
3.4
4.6
40.3
-14.4
-15.7
-35.4
-12.3
295
-53.7
34
35
36
37
38
39
Money market mutual funds
Mutual funds
Government-sponsored enterprises
-35
1.7
2.4
3.7
-0.7
6.0
5.0
-52
-12.6
11.0
0.3
3.4
6.9
23
-4.6
12.8
52
6.8
-0.9
2.9
28.1
6.8
14.1
-1.2
2.8
47.5
17.6
-6.7
-43.9
33.4
-5.2
172
14.4
2.3
-22.7
37
38
39
40
41
42
Finance companies
REITs
Brokers and dealers
15.0
-13
-3.1
29.0
13
2.3
-7.4
-1.2
0.8
7.6
3.0
5.0
18.7
-0.1
-0.3
24.0
2.5
14.2
57.0
1.9
4.8
9.2
2.8
13.3
-2.7
2.8
13.4
32.4
2.6
25.2
4.4
2.9
-1.1
20.4
3.0
-2.7
40
41
42
-75.9
9.8
-0.2
-133.8
-112.1
-13.2
-264.2
51.6
-37.9
197.6
-195.6
-11.6
43
43
Discrepancy
03
56
Zl, September 12, 1996
F.10 Sector Discrepancies
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1990
1991
1992
1994
1993
1995
Ql
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
--------- 1995 -------Q2
Q3
Q4
------ 1996 -----Ql
Q2
-923
18.4
-7.0
-1242
-902
-243
-1633
115.7
-126.0
763
-1003
78.1
1
-171.1
82.9
44.9
-11.4
-90.1
45.6
-108.9
-89.8
-139.0
-4.3
-32.6
12.3
-162.8
28.4
352
34.0
-32.6
49.1
29.8
-622
-106.0
163
-51.0
18.4
2
3
-14.8
-13.4
30.4
8.6
192
-43.7
63
32.8
-352
19.7
7.7
31.8
-2.9
33.8
1.6
-2.4
33.1
19.7
-6.9
40.6
292
3.0
15.1
122.3
-4.1
773
-178.7
-1.6
-0.9
106.0
8.4
22.7
6.9
-22.7
29.9
193
4
5
6
-6.6
0.9
33.4
15.3
20.6
-54.4
-91.8
-93.9
-372
52
-48.9
84.0
7
8
9
10
11
Monetary authority
Commercial hanking
Savings institutions
Credit unions
-2.6
-5.0
25.6
-1.9
-1.0
163
23.4
-2.0
0.4
22.1
10.1
-3.2
-03
39.7
33
-4.3
-3.3
46.0
2.8
-32
-3.4
-19.9
2.4
-43
-12.7
-37.6
2.6
-4.6
23
-793
1.8
-5.1
-2.6
2.3
1.9
-3.6
-0.7
35.1
3.4
-4.7
-4.9
-47.8
4.4
-2.7
-43
923
6.1
-3.6
8
9
10
11
12
13
Life insuranoe companies
Other insuranoe companies
-132
0.2
-26.9
-8.7
-5.7
13.9
-34.1
0.8
-12.1
-8.1
-38.6
25.6
-39.7
23.9
-37.3
34.2
-40.9
21.9
-36.6
222
-43
26.7
-20.8
243
12
13
14
15
16
17
Government-sponsored enterprises
Finance companies
RETTs
Brokers and dealers
-3.1
-f.l
12
-0.6
-3.4
1.7
13
-03
-5.0
1.2
0.3
-03
-62
8.3
9.0
-0.9
-6.7
-13
72
-0.4
-73
-12.8
4.9
-0.6
-8.3
-17.7
23
-02
-8.3
-10.4
8.9
-0.7
-6.4
-13.4
4.1
-0.6
-7.0
-9.9
4.3
-1.0
-9.0
-143
3.7
-0.4
-7.2
-8.7
63
-0.6
14
15
16
17
•
F.ll Instrument Discrepancies
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
All types
-923
184
-7.0
-1242
-902
-243
-1633
115.7
-126.0
763
-1003
78.1
1
2
3
Treasury currency
Foreign deposits
0.2
25.9
-0.6
-24.0
-02
-2.8
-02
-7.0
-02
44.9
-03
27.4
-0.2
41.6
-0.4
101.8
-0.3
-55.7
-1.0
21.9
-1.1
61.1
-0.9
44.5
2
3
4
5
Net interbank transactions
Security RPs
1.6
-27.1
262
-93
-4.9
3.6
42
34.3
-2.7
313
-3.1
23
-0.4
662
-0.9
-53.0
12.3
233
-23.6
-26.8
10.9
-47.8
-27.0
33.8
4
5
3.3
83
-13.1
43
0.7
1.6
-13
-1.3
-4.8
-2.8
-6.0
-3.8
4.6
-3.6
-18.6
-3.8
3.8
-32
-13.8
-4.7
7.9
-3.8
-11.3
-42
6
7
Trade credit
Taxes peyable
-11.2
-1.7
36.1
-22
11.3
11.9
-3.6
11.1
-2.8
8.6
-23.7
8.7
48.0
-73
33.8
31.0
-55.6
9.3
-1212
22
43.3
-23.3
-212
25.1
8
9
10
Miscellaneous
-75.9
9.8
-02
-133.8
-112.1
-132
-2642
51.6
-37.9
197.6
-195.6
-11.6
10
11
Nonfinancial
-16.1
-8.8
-28.0
-26.4
-49.7
-123
-47.8
-25.9
-22.1
45.7
48.0
51.1
11
16.1
0.0
0.0
8.8
0.0
0.0
43.7
-15.8
0.0
21.8
4.7
0.0
342
153
0.0
9.8
2.7
0.0
43.8
4.0
0.0
23.0
2.9
0.0
192
2.9
0.0
-46.6
0.9
0.0
-49.9
1.9
0.0
-51.1
0.0
0.0
12
13
14
Mail floats:
6
7
8
9
Federal government
Other
Nonfinancial components (sign reversed):
12
13
14
Statistical discrepancy (NIPA)
Private wage accruals less disbursements
Net capital grants from foreign
57
Z.1, September 12,1996
L.1 Credit Market Debt Outstanding (1)
Billions of dollars; levels, not seasonally adjusted
1990
1991
1992
1993
1994
Ql
1
Total credit market debt owed by:
---------- 1995 ---------Q2
Q3
Q4
-------- 1996 ------Ql
Q2
137735
14418.6
15234.7
16244.8
17329.4
175862
179153
18217.4
1857051
188512
19177.8
1
10873.6
11348.4
118945
12537.8
13164.4
13339.1
13546.6
13701.3
13886.7
14077.8
14223.8
2
3
Federal government
2498.1
2776.4
3080.3
33365
3492.3
3557.9
35835
3603.4
3636.7
37172
3693.8
3
4
Nonfederal sectors
8375.4
8572.0
8814.2
9201.3
9672.1
97812
9963.1
10097.9
10249.9
10360.6
10530.0
4
3639.8
2456.6
1150.5
135.4
993.2
3823.1
2401.9
1137.3
135.0
1074.8
4021.4
2437.6
1122.9
136.3
1095.9
4278.4
24965
1129.9
138.3
1158.2
4646.7
2627.4
1142.0
1412
1114.8
4688.0
2698.6
11535
138.9
11022
4795.3
2766.9
1161.3
142.8
1096.8
4917.2
2794.3
1167.4
144.8
1074.1
5027.3
2836.0
1174.8
142.7
1069.1
5080.1
2888.0
1184.7
140.3
1067.5
5186.6
2931.2
1193.6
145.3
1073.3
5
6
7
8
9
2
5
6
7
8
9
Domestic nonfinancial sectors
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
Farm business
State and local governments
10
Rest of the world
286.1
300.8
315.2
385.6
370.4
385.7
396.8
419.8
439.9
450.8
459.7
10
11
Financial sectors
2613.9
2769.4
3025.0
33215
3794.6
38615
3971.9
4096.3
4244.4
4322.6
4494.3
11
12
13
14
15
Commercial banking
U.S.-chartered commercial banks
Foreign banking offices in U.S.
Bank holding companies
197.7
485
34.5
114.8
184.6
47.4
24.9
112.3
194.6
58.8
21.2
114.6
208.0
68.6
16.0
123.4
228.1
81.0
13.4
133.6
232.7
82.0
13.0
137.7
242.8
87.0
12.9
142.9
252.0
90.4
11.6
150.0
250.6
922
10.4
148.0
241.8
90.4
10.0
141.4
252.0
94.8
8.8
148.4
12
13
14
15
16
17
Savings institutions
Credit unions
140.1
0.0
95.4
0.0
88.4
0.0
99.6
02
112.4
05
107.7
0.4
105.9
0.3
107.2
0.4
115.0
0.4
117.8
0.4
127.8
0.3
16
17
18
19
20
21
Life insurance companies
Government-sponsored enterprises
Federally related mortgage pools
ABS issuers
0.0
3985
1019.9
285.4
0.0
407.7
11565
339.5
0.0
447.9
1272.0
404.3
0.2
5285
1355.6
487.6
0.6
700.6
1472.1
556.1
0.6
716.3
1479.9
570.0
0.6
748.1
1499.0
596.8
0.6
773.5
1526.6
640.2
05
8075
1570.3
688.9
1.1
816.9
1599.7
718.6
12
850.1
1643.4
749.0
18
19
20
21
22
23
24
25
26
Finance companies
Mortgage companies
REITs
Brokers and dealers
Funding corporations
374.2
246
12.4
15.3
145.7
391.9
222
13.6
19.0
139.1
390.4
30.2
13.9
21.7
161.6
3905
30.2
17.4
33.7
169.9
440.7
18.7
31.1
34.3
199.3
456.7
16.9
32.4
26.9
221.1
4672
20.6
33.7
26.8
230.0
471.9
21.6
35.0
27.4
239.9
492.3
19.1
365
29.3
233.9
499.8
21.6
38.0
21.4
245.6
511.0
25.6
39.6
24.6
2695
22
23
24
25
26
137735
14418.6
15234.7
16244.8
173294
175862
179153
18217.4
185705)
188512
19177.8
27
2436.9
2591.6
2672.4
2747.8
3029.6
29955
2946.8
2953.3
2905.3
2874.3
2867.1
28
1466.2
199.4
43.6
727.8
1544.6
230.0
38.3
778.7
1619.3
257.8
38.1
7572
1676.7
2715
38.8
760.8
2002.7
321.1
395
666.3
2025.2
292.6
39.6
638.1
19815
303.9
39.9
621.6
2052.7
291.0
40.2
569.4
2011.0
315.3
40.4
5385
2030.8
291.4
40.7
511.4
2017.4
298.1
41.0
510.6
29
30
31
32
240.1
902.4
248.0
928.8
236.0
1023.0
231.7
1147.0
207.6
1254.9
2042
1323.3
198.2
1400.9
1922
1492.4
186.2
1561.1
181.2
1653.6
177.7
1718.6
33
34
10194.1
10650.3
113032
12118.3
12837.3
130632
13369.3
135795
13918.3
14142.2
14414.4
35
27
28
29
30
31
32
Total credit market assets held by:
Domestic nonfederal nonfinancial sectors
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
State and local governments
33
34
Federal government
Rest of the world
35
Financial sectors
36
Monetary authority
37
38
39
40
41
Commercial hanking
42
43
44
241.4
2725
300.4
336.7
368.2
367.1
375.7
370.6
380.8
379.6
386.3
36
27725
2466.7
270.8
13.4
21.6
2853.3
25025
319.2
11.9
19.7
2948.6
2571.9
335.8
175
23.4
3090.8
27215
326.0
175
25.8
3254.3
2869.6
337.1
18.4
292
3327.8
29065
373.6
18.0
29.8
3410.1
2963.7
396.0
19.3
31.1
34732
3023.7
401.1
16.9
315
3520.1
3056.1
412.6
18.0
33.4
3541.6
3068.8
4222
16.8
33.9
3591.1
3101.3
437.4
18.1
34.3
37
38
39
40
41
Savings institutions
Credit unions
Bank personal trusts and estates
11765
166.6
213.4
10132
179.4
2235
937.4
197.1
2315
914.0
218.7
240.9
920.9
246.8
248.0
925.3
248.1
245.3
922.4
255.0
240.2
930.4
2585
234.2
913.3
263.0
2292
908.3
267.1
224.7
909.5
276.6
221.6
42
43
44
45
46
47
48
Life insurance companies
Other insurance companies
Private pension funds
State and local govt retirement funds
1134.5
344.0
495.1
422.1
1224.6
376.6
530.6
3945
1309.1
389.4
571.7
417.5
1420.6
422.7
617.6
437.3
1487.0
446.4
664.6
466.3
1523.1
451.9
679.3
480.7
1557.1
457.3
693.6
482.1
15755
463.0
706.2
481.8
15862
468.7
725.9
487.7
16005
4745
742.3
501.1
1629.7
4802
763.4
520.6
45
46
47
48
49
50
51
52
53
54
Money market mutual funds
Mutual funds
Closed-end funds
Government-sponsored enterprises
Federally related mortgage pools
ABS issuers
371.3
360.1
36.7
373.9
1019.9
268.0
403.9
440.2
495
389.0
11565
318.0
408.6
566.4
67.7
457.8
1272.0
378.0
429.0
725.9
78.6
548.0
1355.6
458.8
459.0
718.8
73.1
667.1
1472.1
520.7
480.6
719.3
74.0
671.9
1479.9
5315
508.0
724.8
75.6
695.9
1499.0
5552
505.7
739.2
77.7
708.4
1526.6
595.7
5455
771.3
78.9
756.0
1570.3
632.7
595.6
792.4
78.6
7652
1599.7
6575
594.7
8125
79.6
799.5
1643.4
685.9
49
50
51
52
53
54
55
56
57
58
59
Finance companies
Mortgage companies
REITs
Brokers and dealers
Funding corporations
498.1
49.2
7.7
106.5
136.6
488.9
60.3
7.0
124.0
144.8
496.4
605
8.1
122.7
162.5
482.8
60.4
8.6
137.5
133.6
551.0
375
13.3
93.3
1292
5685
33.9
13.8
101.0
140.3
586.9
41.4
14.2
1375
137.4
594.7
43.2
14.7
137.0
143.1
6152
34.1
15.1
183.4
140.9
621.7
46.8
15.6
156.2
173.4
632.6
42.7
16.1
137.2
191.2
55
56
57
58
59
U.S.-chartered commercial banks
Foreign banking offices in U.S.
Bank holding companies
Banks in U.S.-affiliated areas
(1) Excludes corporate equities and mutual fund shares.
58
Z.1, September 12, 1996
L.2 Credit Market Debt Owed by Nonfinancial Sectors
Billions of dollars; levels, not seasonally adjusted
1990
1991
1992
1993
1994
Ql
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
---------- 1995 ---------Q2
Q3
Q4
------- 1996 ------Ql
02
10873.6
11348.4
118943
125375
13164.4
13339.1
13546.6
137015
13886.7
140775
142235
1
Federal government
Treasury securities
Budget agency secur. and mortgages
2498.1
2465.8
32.4
2776.4
2757.8
18.6
3080.3
3061.6
18.8
3336.5
3309.9
26.6
3492.3
3465.6
26.7
3557.9
35315
26.4
35835
3556.7
26.8
3603.4
35765
26.9
3636.7
36085
28.2
37172
3689.6
27.6
3693.8
36655
282
2
3
4
Nonfederal, by instrument
Commercial paper
Municipal securities and loans
Corporate bonds
Bank loans n.e.c.
Other loans and advances
8375.4
116.9
1184.4
1008.2
726.9
728.6
8572.0
983
1272.2
1086.9
686.0
6735
88142
107.1
1302.8
11543
672.2
6863
9201.3
117.8
13773
1229.7
676.0
676.3
9672.1
139.2
1348.2
1253.0
749.0
738.0
9781.2
149.8
1335.4
1266.3
782.8
762.0
9963.1
162.9
1331.7
1290.9
810.8
775.8
10097.9
163.3
1309.9
1305.8
824.4
781.2
10249.9
157.4
1307.0
1326.3
8485
796.3
10360.6
1742
1304.7
1341.0
856.0
809.4
10530.0
181.7
1311.3
13585
879.2
817.7
5
6
7
8
9
10
3799.4
2676.2
288.4
755.9
78.9
811.1
3957.8
2849.8
282.8
745.9
79.3
797.4
4088.7
3037.4
2723
698.1
80.7
802.4
4260.0
3227.6
267.8
683.4
812
863.9
4454.4
3430.0
269.1
672.3
83.0
9902
4494.0
3462.9
269.8
677.8
83.4
990.9
45602
3521.1
273.4
681.9
83.8
1030.8
4635.2
3587.7
276.8
686.4
84.4
1078.2
4682.6
3626.8
280.0
691.2
84.6
1131.9
4749.9
3682.2
283.6
698.9
85.2
1125.4
4832.7
3749.9
288.0
708.3
865
1148.8
11
12
13
14
15
16
8375.4
3639.8
37425
2456.6
11505
135.4
993.2
8572.0
3823.1
36745
2401.9
1137.3
135.0
1074.8
88142
4021.4
3696.8
2437.6
1122.9
136.3
1095.9
9201.3
4278.4
3764.8
24963
1129.9
138.3
1158.2
9672.1
4646.7
3910.6
2627.4
1142.0
141.2
1114.8
97812
4688.0
3991.0
2698.6
11535
138.9
1102.2
9963.1
4795.3
4071.0
2766.9
1161.3
142.8
1096.8
10097.9
49172
4106.6
2794.3
1167.4
144.8
1074.1
10249.9
5027.3
41535
2836.0
1174.8
142.7
1069.1
10360.6
5080.1
4213.0
2888.0
1184.7
140.3
10675
10530.0
5186.6
4270.1
29312
1193.6
145.3
1073.3
17
18
19
20
21
22
23
Domestic
Mortgages
Home
Multifamily residential
Commercial
Farm
Consumer credit
Nonfederal, by sector
Household sector
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local governments
24
Foreign credit market debt
held in U.S.
286.1
3005
3152
3853
370.4
385.7
3965
4195
439.9
4505
459.7
24
25
26
27
28
Commercial paper
Bonds
Bank loans n.e.c.
Other loans and advances
75.3
115.4
183
76.8
81.8
1303
21.6
67.0
77.7
1472
23.9
66.4
68.7
230.1
24.6
62.1
41.4
242.3
26.1
60.6
50.9
245.8
282
60.8
48.1
258.6
29.6
605
55.8
272.4
31.6
60.0
55.0
290.6
34.6
59.7
515
3025
36.8
60.0
53.4
305.4
405
60.4
25
26
27
28
11159.6
116492
12209.7
129234
135345
13724.7
13943.4
14121.1
14326.6
145285
146835
29
29
Domestic and foreign
L.3 Credit Market Debt Owed by Financial Sectors
Billions of dollars; levels, not seasonally adjusted
1
2
3
4
5
6
7
8
9
10
11
12
2613.9
27694
3025.0
33215
37944
38615
39715
40965
42444
43224
44945
1
Federal government-related
Govt.-sponsored enterprise securities
Mortgage pool securities
U.S. government loans
1418.4
393.7
1019.9
4.9
15645
402.9
11565
4.8
1720.0
443.1
1272.0
4.8
1884.1
523.7
1355.6
4.8
2172.7
700.6
1472.1
0.0
21962
716.3
1479.9
0.0
2247.1
748.1
1499.0
0.0
2300.1
7735
1526.6
0.0
2377.9
8075
1570.3
0.0
2416.6
816.9
1599.7
0.0
24935
850.1
1643.4
0.0
2
3
4
5
Private financial sectors
Open market paper
Corporate bonds
Bank loans rte.c.
Other loans and advances
Mortgages
11955
417.7
5795
69.6
124.4
4.3
1205.3
385.7
649.3
78.4
87.1
4.8
1305.1
394.3
738.4
805
86.6
5.4
1437.4
3935
8585
67.6
108.9
8.9
1621.9
442.8
9735
55.3
131.6
18.7
1665.3
454.1
1012.3
53.4
125.4
20.0
1724.8
462.8
1056.4
58.4
125.7
21.3
1796.2
473.6
1112.7
60.3
127.0
22.6
18665
488.0
1158.7
60.8
135.0
24.0
1906.0
491.9
1191.2
63.9
133.6
25.4
2000.8
5185
1240.0
69.7
145.8
26.9
6
7
8
9
10
11
2613.9
27694
3025.0
33215
37944
38615
39715
40965
4244.4
43224
44945
12
83.0
114.8
140.1
0.0
72.3
112.3
95.4
0.0
80.0
114.6
88.4
0.0
84.6
123.4
99.6
0.2
945
133.6
112.4
05
95.0
137.7
107.7
0.4
99.9
142.9
105.9
0.3
102.0
150.0
1072
0.4
102.6
148.0
115.0
0.4
1005
141.4
117.8
0.4
103.6
148.4
127.8
0.3
13
14
15
16
0.0
3985
1019.9
285.4
0.0
407.7
11565
3395
0.0
447.9
1272.0
404.3
02
5285
1355.6
487.6
0.6
700.6
1472.1
556.1
0.6
716.3
1479.9
570.0
0.6
748.1
1499.0
596.8
0.6
7735
1526.6
640.2
05
8075
1570.3
688.9
1.1
816.9
1599.7
718.6
15
850.1
1643.4
749.0
17
18
19
20
15.3
374.2
24.6
12.4
145.7
19.0
391.9
225
13.6
139.1
21.7
390.4
302
13.9
161.6
33.7
3905
30.2
17.4
169.9
34.3
440.7
18.7
31.1
199.3
26.9
456.7
16.9
32.4
221.1
26.8
4672
20.6
33.7
230.0
27.4
471.9
21.6
35.0
239.9
29.3
492.3
19.1
365
233.9
21.4
499.8
21.6
38.0
245.6
24.6
511.0
25.6
39.6
2695
21
22
23
24
25
By instrument
By sector
13
14
15
16
Commercial banks
Bank holding companies
Savings institutions
Credit unions
17
18
19
20
Life insurance companies
Government-sponsored enterprises
Federally related mortgage pools
ABS issuers
21
22
23
24
25
Brokers and dealers
Finance companies
Mortgage companies
REITs
Funding corporations
59
Z.1, September 12,1996
L.4 Credit Market Debt, All Sectors, by Instrument
Billions of dollars; levels, not seasonally adjusted
1990
1991
1992
1993
1994
Ql
1
Total
---------- 1995 ---------Q2
Q3
137735
14418.6
15234.7
16244.8
17329.4
175862
17915.3
18217.4
Q4
18570.9
-------- 1996 ------Ql
Q2
188512
19177.8
1
2
3
4
5
Open market paper
U.S. government securities
Municipal securities
Corporate and foreign bonds
609.9
3911.7
1184.4
1703.1
565.9
4335.7
1272.2
1866.7
579.0
4795.5
1302.8
2040.1
580.0
5215.8
13775
2318.3
623.5
5665.0
1348.2
2468.8
654.7
5754.1
1335.4
2524.4
673.8
5830.6
1331.7
2605.9
692.7
59035
1309.9
2690.9
700.4 ~
6014.6
1307.0
2775.6
717.6
6133.8
1304.7
2834.8
753.6
6187.2
1311.3
2903.9
2
3
4
5
6
7
8
9
Bank loans n.e.c.
Other loans and advances
Mortgages
Consumer credit
815.0
934.7
3803.7
811.1
785.9
832.1
3962.6
797.4
776.6
844.2
4094.1
802.4
768.2
852.1
4269.0
863.9
830.4
930.1
4473.1
990.2
864.4
948.2
4514.0
990.9
898.8
962.1
4581.6
1030.8
916.3
968.2
4657.8
1078.2
943.9
991.0
4706.7
1131.9
956.7
1003.0
4775.4
1125.4
989.4
1023.9
4859.6
1148.8
6
7
8
9
3530.2
608.4
4863.6
769.5
5462.9
992.5
62785
1375.4
6293.4
1477.3
6835.8
1553.3
7393.0
1661.0
8013.8
1782.0
8345.4
1852.8
88205
1994.3
9181.0
2112.0
10
11
Memo:
Selected claims not included above:
10
11
Corporate equities
Mutual fund shares
L.5 Total Liabilities and Their Relation to Total Financial Assets
Billions of dollars; levels, not seasonally adjusted
1
Total credit market debt
(from table L.4)
137735
144185
15234.7
162443
173294
175862
179155
182174
18570.9
188512
191773
1
2
3
4
5
6
Official foreign exchange
SDR certificates
Treasury currency
Foreign deposits
Net interbank liabilities
61.3
10.0
16.3
297.9
94.9
55.4
10.0
16.3
2735
96.4
51.8
8.0
165
267.7
1385
53.4
8.0
17.0
271.8
189.3
53.2
8.0
17.6
324.6
280.0
64.1
8.0
17.8
333.3
272.8
67.1
8.0
18.0
361.0
265.9
65.1
102
18.2
353.6
267.3
63.7
102
18.2
361.4
290.8
62.1
102
182
382.7
266.1
61.4
102
18.2
384.9
241.8
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
934.6
2349.2
546.9
493.3
372.3
1020.9
2350.7
488.4
535.0
355.8
1134.4
22935
415.2
5395
399.9
1251.7
2223.2
391.7
559.6
471.1
1242.0
2183.3
411.2
602.9
549.4
1193.7
2200.2
441.2
634.0
603.4
1246.2
2222.6
456.3
6785
629.3
1200.3
2255.8
4775
702.7
6555
1229.3
2279.7
476.9
745.3
660.1
1183.6
2336.4
490.6
816.9
665.0
1211.9
2332.9
508.6
8095
679.2
7
8
9
10
11
12
13
14
15
Mutual fund shares
Security credit
Life insurance reserves
Pension fund reserves
608.4
137.4
380.0
3306.4
769.5
188.9
405.7
3655.4
9925
217.7
433.0
4055.1
1375.4
279.0
468.2
4471.6
1477.3
279.0
502.2
4691.4
1553.3
2695
515.1
4885.7
1661.0
277.9
529.1
5084.4
1782.0
286.2
537.7
5298.1
1852.8
305.6
546.9
5426.6
1994.3
326.9
552.2
55592
2112.0
316.0
569.6
5714.6
12
13
14
15
16
Trade payables
Taxes payable
Investment in bank personal trusts
Miscellaneous
9272
77.4
551.7
4132.6
948.3
70.0
639.3
4443.7
995.1
79.7
660.6
4785.7
1053.3
84.9
691.3
5174.1
1167.6
88.0
699.4
5435.9
1160.2
94.3
719.7
5514.9
11805
892
739.7
5590.1
1213.9
91.9
758.6
5695.3
1262.0
89.3
767.4
5848.2
1252.0
94.2
781.6
5973.2
1299.8
90.4
791.0
5998.3
16
17
18
19
290715
30741.9
32719.0
35279.4
37342.7
380675
390202
398872
408052
41616.7
42327.7
20
22.0
3530.2
2628.6
22.3
4863.6
2521.0
19.6
5462.9
2458.3
20.1
6278.5
2476.3
21.1
6293.4
2565.1
22.7
6835.8
2572.4
22.9
7393.0
2599.3
22.1
8013.8
2607.1
22.1
8345.4
2642.6
22.1
88205
2657.0
22.2
9181.0
2665.0
21
22
23
17
18
19
20
Total liabilities
+ Financial assets not included in
liabilities:
21
22
23
Gold and SDRs
Corporate equities
Household equity in noncorp. bus.
- Liabilities not identified as assets:
24
25
26
Treasury currency
Foreign deposits
Net interbank transactions
-4.1
244.6
-32.0
-4.7
222.6
-4.2
-4.9
217.6
-9.3
-5.1
232.6
-4.7
-5.4
278.7
-65
-5.4
289.1
-2.7
-55
3145
-2.9
-5.6
300.6
0.1
-5.8
309.2
-9.0
-6.1
324.4
-2.6
-6.3
335.6
-8.0
24
25
26
27
28
29
Security RPs
Taxes payable
Miscellaneous
48.0
17.8
-627.0
38.4
16.6
-638.0
43.0
25.2
-514.0
77.3
26.8
-660.9
108.8
25.0
-733.1
130.4
10.0
-749.7
109.8
25.6
-699.7
129.9
28.7
-660.9
111.3
33.7
-783.3
103.3
13.4
-7582
102.7
27.8
-773.2
27
28
29
15.0
35.9
-2905
3.8
40.4
-263.1
6.8
42.0
-251.1
5.6
40.7
-247.6
3.4
38.0
-251.3
4.2
33.3
-294.3
2.0
35.7
-3045
0.6
27.3
-330.7
3.1
34.2
-275.0
-0.0
29.6
-326.1
-3.4
31.8
-3475
30
31
32
35844.4
38737.0
41104.4
44589.6
46764.6
480835
495605
510402
52397.0
537385
548365
33
- Floats not included in assets:
30
31
32
33
Checkable deposits: Federal govt
Other
Trade credit
Totals identified to sectors as assets
60
Zl, September 12, 1996
L.9 Assets and Liabilities of the Personal Sector (1)
Billions of dollars; levels, not seasonally adjusted
1990
1
Tetal financial assets
1991
1992
1993
1994
---------- 1995 ---------Ql
Q2
Q3
Q4
-------- 1996 ------Ql
Q2
121193
137123
146683
1585431
164373
170823
17674.1
18406J
18805.4
19320.7
19745.9
1
2
3
4
5
Foreign deposits
Checkable deposits and currency
Time and savings deposits
Money market fund shares
13.4
579.1
2528.8
368.6
14.6
637.3
2474.6
377.7
15.6
7543
2398.1
336.4
16.4
831.2
2291.1
342.3
173
845.9
2285.3
356.1
17.7
838.6
2331.6
379.2
19.1
832.4
2368.1
407.8
18.8
806.4
24113
426.0
192
8213
2437.7
451.6
203
793.1
2491.7
502.3
20.7
795.9
2508.4
484.3
2
3
4
5
6
Securities
3564.0
4648.3
51303
5792.0
6053.0
6387.1
6666.8
7103.7
7258.8
7512.8
7739.0
6
633
1263
284.0
72.9
33.3
138.1
256.1
62.6
29.9
157.3
312.4
93.0
453
171.9
3213
73.7
35.0
179.9
5603
199.9
26.0
181.4
581.4
1973
293
182.6
549.4
178.4
38.0
1833
572.2
195.2
35.3
185.0
540.1
197.3
27.9
185.8
557.1
1972
30.4
1863
528.2
219.7
7
8
9
10
572.1
213.8
1760.0
471.9
610.4
301.8
2652.7
593.3
581.2
296.8
2918.7
741.0
555.6
340.6
3284.8
998.4
505.0
346.3
3167.8
1058.9
500.8
361.0
3446.2
1093.0
495.1
366.7
3708.9
1156.3
474.1
407.2
40083
1224.9
461.8
408.9
4165.8
1264.7
4643
413.4
4312.1
1354.7
465.8
398.1
4481.6
1428.8
11
12
13
14
368.1
5953
1640.3
1082.8
393.8
655.7
1844.8
1166.8
4213
745.1
2009.0
13123
4573
853.8
2199.0
1429.9
4913
897.4
2289.4
1515.3
504.4
926.3
2391.8
1578.3
5183
961.4
2482.9
1650.8
527.0
990.0
2590.4
1728.3
536.3
1012.3
2652.8
1772.1
541.6
10423
2688.1
1839.3
559.0
1055.1
2767.7
1902.5
15
16
17
18
551.7
827.3
639.3
859.6
660.6
884.9
691.3
950.8
699.4
986.8
719.7
10073
739.7
1026.6
758.6
1046.3
767.4
1075.7
781.6
1107.3
791.0
1122.4
19
20
5232.4
54393
5643.7
5947.0
6346.0
6393.7
65173
6661.4
6783.7
6860.1
6986.9
21
2659.6
966.4
811.1
2832.8
9713
797.4
3019.9
942.4
802.4
32093
928.6
863.9
3411.3
9313
9903
3444.1
937.3
990.9
3502.1
943.9
1030.8
35683
951.3
10783
36073
956.9
1131.9
3662.8
968.0
1125.4
3730.3
980.0
1148.8
22
23
24
623
38.8
694.0
67.2
55.1
715.9
72.9
533
7523
78.6
76.1
790.2
86.4
75.1
8513
87.9
69.4
864.1
89.6
68.7
882.1
91.9
77.4
894.1
96.9
78.6
912.0
98.7
89.1
916.1
100.4
89.8
937.7
25
26
27
7
8
9
10
Open market paper
U.S. savings bonds
Other Treasury securities
Agency securities
11
12
13
14
Municipal securities
Corporate and foreign bonds
Corporate equities (2)
Mutual fund shares
15
16
17
18
Private life insurance reserves
Private insured pension reserves
Private noninsured pension reserves
Govt insurance and pension reserves
19
20
Investment in benk personal trusts
Miscellaneous assets
21
Total liabilities
22
23
24
Mortgage debt on nonfarm homes
Other mortgage debt (3)
Consumer credit
25
26
27
Policy loans
Security credit
Other liabilities (3)
(1) Combined statement for household sector, nonfarm noncorporate business, and farm business.
(2) Only directly held and those in closed-end funds. Other equities axe included in nutual funds (line 14), life insurance and pension reserves (lines IS, 16, 17, and 18), and bank personal trusts (line 19).
(3) Includes corporate farms.
61
Z.1, September 12,1996
L.100 Households and Nonprofit Organizations (1)
Billions of dollars; levels, not seasonally adjusted
1990
1991
1992
1993
1994
Ql
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
---------- 1995 ---------Q2
Q3
Q4
-------- 1996 ----Ql
02
14202.1
156965
165723
177635
18418.1
19065.7
196794
204144
206425
213663
21794.1
1
3350.6
3363.3
3359.1
3329.6
3347.0
3407.9
3466.4
3499.7
3565.1
3640.8
3640.6
2
13.4
494.5
2477.8
364.9
14.6
550.9
2423.7
374.1
15.6
661.3
2349.4
332.8
16.4
7335
2241.2
338.6
175
743.6
2234.1
3525
17.7
735.0
2279.9
375.3
19.1
7275
2316.0
403.8
18.8
700.2
2358.9
421.9
195
713.9
2384.6
4475
205
684.0
2438.1
4985
20.7
6855
2454.4
480.1
3
4
5
6
1466.2
1544.6
1619.3
1676.7
2002.7
20255
19815
2052.7
2011.0
2030.8
2017.4
7
8
9
10
11
12
13
Open market paper
U.S. government securities
Treasury
Savings bonds
Other Treasury
Agency
63.2
470.7
397.7
126.2
2715
72.9
33.3
444.6
382.0
138.1
243.9
62.6
29.9
549.6
456.6
157.3
299.4
93.0
455
5535
479.8
171.9
307.9
73.7
35.0
925.8
726.0
179.9
546.0
199.9
26.0
9455
748.4
181.4
567.1
1975
295
895.9
717.5
182.6
534.9
178.4
38.0
936.3
741.0
1835
5575
1955
35.3
907.6
7105
185.0
525.2
197.3
27.9
925.1
727.9
185.8
542.1
1975
30.4
919.1
6995
1865
513.0
219.7
8
9
10
11
12
13
14
15
16
Municipal securities
Corporate and foreign bonds
Mortgages
572.1
213.8
1465
610.4
301.8
154.6
581.2
296.8
161.7
555.6
340.6
181.4
505.0
346.3
190.6
500.8
361.0
191.7
495.1
366.7
194.3
474.1
407.2
197.2
461.8
408.9
197.5
4645
413.4
199.8
465.8
398.1
204.0
14
15
16
17
18
19
20
21
Corporate equities (2)
Mutual fund shares
Security credit
Life insurance reserves
Pension fund reserves
1760.0
471.9
62.4
380.0
3306.4
2652.7
593.3
87.0
405.7
3655.4
2918.7
741.0
76.2
433.0
4055.1
3284.8
998.4
102.3
468.2
4471.6
3167.8
1058.9
109.0
502.2
4691.4
3446.2
1093.0
112.9
515.1
4885.7
3708.9
1156.3
1135
529.1
5084.4
40085
1224.9
114.9
537.7
5298.1
4165.8
1264.7
127.6
546.9
5426.6
4312.1
1354.7
140.9
552.2
5559.2
4481.6
1428.8
134.3
569.6
5714.6
17
18
19
20
21
22
23
24
Investment in bank personal trusts
Equity in noncorporate business
Miscellaneous assets
551.7
2628.6
224.4
639.3
2521.0
234.1
660.6
2458.3
251.0
691.3
2476.3
264.1
699.4
2565.1
274.7
719.7
2572.4
2875
739.7
2599.3
300.6
758.6
2607.1
312.4
767.4
2642.6
324.6
781.6
2657.0
337.0
791.0
2665.0
351.1
22
23
24
3764.0
39715
4173.1
4461.0
4836.7
48743
4984.1
51175
5231.0
5297.0
5406.7
25
3639.8
3823.1
4021.4
4278.4
4646.7
4688.0
4795.3
4917.2
5027.3
5080.1
5186.6
26
2490.8
811.1
85.8
2654.4
797.4
935
28155
802.4
102.7
2970.0
863.9
114.7
3164.6
990.2
1295
3195.4
990.9
1305
32535
1030.8
1325
3320.1
1078.2
1335
3360.4
1131.9
135.0
3416.7
1125.4
135.9
3484.8
1148.8
136.2
27
28
29
12.1
100.8
139.1
8.7
110.1
158.9
115
119.4
169.8
18.6
1265
184.6
295
134.7
198.9
31.4
136.1
203.6
33.3
1385
207.3
34.2
140.0
211.4
42.4
144.5
213.0
37.4
145.7
219.0
44.1
148.0
224.7
30
31
32
25
26
Total liabilities
Credit market instruments
27
28
29
Home mortgages
Consumer credit
Municipal securities
30
31
32
Bank loans n.e.c.
Other loans and advances
Commercial mortgages
33
34
35
Security credit
Trade payables
Deferred and unpaid
life insurance premiums
38.8
55.1
535
76.1
75.1
69.4
68.7
77.4
78.6
89.1
89.8
33
68.9
77.7
825
89.8
97.4
99.7
102.0
104.4
106.7
109.1
1115
34
165
15.7
15.8
16.6
175
17.8
18.0
185
18.4
18.6
18.8
35
(1) Supplementary tables (tables F. 100.a and L. 100.a) show estimates of annual flows and year-end outstandings of nonprofit organizations.
(2) Only directly held and those in closed-end funds. Other equities are included in mutual funds (line 18), life insurance and pension reserves (lines 20 and 21), and bank personal trusts (line 22).
62
Z.1, September 12, 1996
L.101 Nonfinancial Business (1)
Billions of dollars; levels, not seasonally adjusted
---------------------- 1995 ---------------------Q4
Q2
Q3
Ql
-------- 1996 ------Q2
Ql
1990
1991
1992
1993
1994
41673
4292.9
44773
4851.1
51463
51763
52863
5362.7
55033
5601.4
56943
1
2
3
4
5
6
Foreign deposits
Checkable deposits and currency
lime and savings deposits
Money market fund shares
Security RPs
13.2
251.4
124.4
30.0
2.1
15.0
268.9
117.7
35.1
1.6
14.3
282.6
1003
51.0
5.1
12.9
300.8
124.0
48.6
23
13.1
309.7
122.8
56.1
22
11.6
2913
1123
57.9
3.7
12.0
301.4
119.4
72.6
8.9
132
312.3
121.2
77.0
3.7
13.4
330.2
122.8
87.1
2.4
163
3272
120.4
952
2.3
143
330.6
122.0
98.7
2.8
2
3
4
5
6
7
Credit market instruments
242.9
268.3
296.0
310.3
360.6
3322
343.8
331.2
355.8
332.1
339.1
7
13.8
53.4
24.7
83.8
67.1
14.7
60.8
44.8
85.0
63.0
17.0
822
45.8
852
65.7
19.4
813
54.7
773
772
18.6
116.4
59.4
793
86.6
18.0
99.4
544
81.0
79.7
17.1
108.4
55.3
82.6
803
17.6
942
56.4
84.7
78.3
19.6
109.4
54.7
87.1
85.1
16.8
108.2
41.3
892
76.7
18.0
1082
50.0
90.8
72.1
8
9
10
11
12
9.7
1065.0
2428.8
14.8
1058.1
2513.4
21.1
1092.8
2614.3
29.8
1142.7
2879.6
31.1
1253.0
2998.0
343
12843
30482
38.1
1313.2
3077.3
42.0
1368.0
3094.1
47.8
13452
3198.9
52.0
1377.3
3278.3
55.6
14412
3290.1
13
14
15
6197.9 *
6297.8
65803
6874.7
7129.1
71893
73083
7405.1
75142
76143
7701.0
16
1
8
9
10
11
12
13
14
15
16
Total financial assets
Commercial paper
U.S. government securities
Municipal securities
Mortgages
Consumer credit
Mutual fund shares
Trade receivables
Miscellaneous assets
Total liabilities
37423
3674.2
3696.8
3764.8
3910.6
3991.0
4071.0
4106.6
4153.5
4213.0
4270.1
17
18
19
20
Commercial paper
Municipal securities
Corporate bonds
116.9
1152
1008.2
983
114.0
1086.9
107.1
114.0
11543
117.8
113.9
1229.7
1392
112.4
1253.0
149.8
110.6
1266.3
162.9
109.9
1290.9
163.3
109.4
1305.8
157.4
1093
1326.3
1742
107.6
1341.0
181.7
107.6
13583
18
19
20
21
22
23
Bank loans n.e.c.
Other loans and advances
Mortgages
714.7
618.1
1169.4
6772
553.1
1144.4
660.8
557.2
1103.3
657.4
5403
1105.4
719.8
5952
1090.9
751.4
618.0
1095.0
7773
630.1
1099.8
790.2
634.1
1103.7
8062
645.1
11092
818.6
657.4
11142
835.1
663.9
1123.3
21
22
23
699.0
733
1682.9
722.1
65.8
1835.8
762.6
73.7
20472
802.6
76.4
2231.0
897.4
793
2241.6
8863
852
2226.6
898.6
79.9
2258.7
927.3
82.1
2289.1
969.4
79.6
2311.7
957.4
84.3
2359.9
992.9
80.4
2357.7
24
25
26
17
24
25
26
Credit market instruments
Trade payables
Taxes payable
Miscellaneous liabilities
(1) Combined statement for nonfann nonfinancial corporate business, nonfarm noncorporate business, and farm business.
63
Zl, September 12,1996
L.102 Nonfarm Nonfinancial Corporate Business
Billions of dollars; levels, not seasonally adjusted
1990
1991
1992
1993
1994
Ql
--------- 1995 ---------------------Q3
Q4
Q2
-------- 1996 ------Ql
02
36344
37642
3931.7
4289.0
4567.1
45925
4697.2
4767J)
49032
4995.4
5063.0
1
Foreign deposits
Checkable deposits and currency
Time and savings deposits
Money market fund shares
Security RPs
13.2
166.8
73.4
26.3
2.1
15.0
1825
66.8
31.5
1.6
14.3
189.4
51.8
47.3
5.1
12.9
203.1
74.1
44.8
25
13.1
207.4
71.6
52.2
22
11.6
188.0
60.8
53.9
3.7
12.0
1965
67.3
68.6
8.9
13.2
206.0
68.6
73.0
3.7
13.4
2225
69.7
83.0
2.4
16.5
218.2
66.8
91.1
2.3
145
2202
68.0
945
2.8
2
3
4
5
6
7
8
9
10
11
12
13
Commercial paper
U.S. government securities
Municipal securities
Mortgages
Consumer credit
Trade receivables
Mutual fund shares
13.8
40.9
24.7
52.8
67.1
967.2
9.7
14.7
485
44.8
59.0
63.0
961.4
14.8
17.0
69.2
45.8
60.0
65.7
988.9
21.1
19.4
67.9
54.7
52.3
77.2
1035.0
29.8
18.6
102.2
59.4
54.2
86.6
1141.4
31.1
18.0
85.1
54.1
55.7
79.7
1171.8
34.5
17.1
93.9
55.3
57.2
805
1199.2
38.1
17.6
795
56.4
59.2
78.3
1252.8
42.0
19.6
945
54.7
615
85.1
1228.7
47.8
16.8
93.1
41.3
635
76.7
1259.4
52.0
18.0
93.0
50.0
65.0
72.1
1321.9
55.6
7
8
9
10
11
12
13
14
15
16
17
18
19
Miscellaneous assets
U.S. direct investment abroad (1)
Insurance receivables
Equity in GSEs
Investment in finance company subs.
Other
2176.3
558J5
147 J
1.3
15.2
1453.8
22605
578.0
1495
1.8
18.2
1513.0
2355.8
580.0
163.0
1.9
20.5
1590.4
2615.3
598.4
169.7
1.9
21.4
1823.9
27272
665.6
1775
2.0
25.5
1856.6
2775.5
6835
178.9
2.0
26.2
1884.9
2802.7
697.7
179.8
2.0
28.7
1894.6
2817.6
7185
180.4
2.0
29.5
1887.1
2920.4
751.9
180.7
2.0
31.1
1954.7
2997.7
772.3
180.7
2.4
31.1
2011.1
30075
794.1
180.4
2.8
305
1999.7
14
15
16
17
18
19
47294
48293
5109.7
5388.6
5619.8
56705
5775.0
58605)
5961.6
6051.4
6120.8
20
1
2
3
4
5
6
20
Total financial assets
Total liabilities
21
Credit market instruments
2456.6
2401.9
2437.6
24965
2627.4
2698.6
2766.9
2794.3
2836.0
2888.0
29312
21
22
23
24
25
Commercial paper
Municipal securities (2)
Corporate bonds (1)
Bank loans n.e.c.
116.9
115.2
1008.2
5455
985
114.0
1086.9
507.7
107.1
114.0
1154.5
488.4
117.8
113.9
1229.7
482.4
139.2
112.4
1253.0
530.4
149.8
110.6
1266.3
558.7
162.9
109.9
1290.9
577.8
163.3
109.4
1305.8
5865
157.4
1095
1326.3
602.2
174.2
107.6
1341.0
613.3
181.7
107.6
13585
622.4
22
23
24
25
26
27
28
29
30
31
32
33
Other loans and advanoes
Savings institutions
Finance companies
Federal government
Acceptance liabilities to banks
Rest of the world
ABS issuers
Mortgages
497.6
172
264.3
8.8
292
172.4
5.8
173.3
440.9
9.7
266.2
7.9
23.3
125.1
8.8
153.8
447.2
6.2
271.2
7.9
20.4
129.9
11.6
126.4
430.8
5.4
265.2
8.1
17.1
113.4
21.6
121.9
480.8
5.1
303.9
8.6
15.0
122.3
25.9
111.6
500.6
5.9
316.7
8.8
16.0
126.1
27.0
112.6
511.3
6.0
325.7
9.0
16.6
1245
29.4
114.2
514.0
6.3
326.2
9.2
15.6
126.3
305
115.4
522.4
6.4
338.3
9.4
142
121.4
32.7
118.2
532.8
6.8
342.8
9.6
13.7
126.4
33.4
119.1
538.6
7.3
345.3
9.9
13.1
127.0
36.0
122.4
26
27
28
29
30
31
32
33
626.3
415X
1605.0
649.4
33.3
1745.2
682.8
405
1948.8
719.3
425
2130.3
811.0
44.9
2136.4
799.2
50.4
2122.3
810.2
44.9
2153.1
837.7
46.9
2182.0
8785
442
2203.0
865.2
48.7
2249.6
899.3
44.6
2245.7
34
35
36
34
35
36
Trade payables
Taxes payable
Miscellaneous liabilities
37
Foreign direct investment in U.S.
38
39
Pension fund contributions payable
Other
473.8
483.3
495.1
492.9
527.4
547.7
577.9
579.7
599.0
6205
37
13.6
1117.7
17.3
1244.6
19.3
1434.4
22.4
1615.0
25.6
1583.4
26.4
1548.2
1562.3
28.0
1576.1
28.8
1594.4
29.6
1620.9
30.4
1594.8
38
39
5635
27.2
Memo:
40
41
Trade receivables net of payables
Market value of equities
340.9
2610.8
312.0
3614.7
306.1
3967.1
315.8
4388.0
330.3
4460.0
372.6
48435
389.1
5229.0
415.1
5596.1
350.2
5783.1
394.2
6065.4
422.6
6363.8
40
41
42
43
Securities and mortgages
Loans and short-term paper
1296.6
1159.9
1354.8
1047.1
1394.8
1042.8
14655
1031.0
1477.0
1150.4
1489.5
1209.1
1515.0
1251.9
1530.6
1263.7
1554.0
1281.9
1567.7
1320.3
1588.6
1342.7
42
43
44
45
Total short-term liabilities (3)
Total liquid assets (4)
1827.7
371.0
1729.8
420.3
1766.1
461.1
1792.8
509.2
2006.4
557.7
2058.7
509.6
2107.0
557.6
2148.3
560.0
2204.6
6075
2234.1
598.1
22865
616.6
44
45
Analytical measures (percent)
46
47
Long-term debt/credit market debt
Short-term debt/credit market debt
52.8
472
56.4
43.6
572
42.8
58.7
41.3
56.2
43.8
552
44.8
54.8
452
54.8
45.2
54.8
452
54.3
45.7
542
45.8
46
47
48
Liquid assets/short-tenn liabilities
20.3
24.3
26.1
28.4
27.8
24.8
265
26.1
27.6
26.8
27.0
48
(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 boixl 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 (except mortgages), short-term paper, taxes payable, and trade payables. Includes loans due in more than one year and excludes current maturities of bools and mortgages.
(4) Sum of lines 2 through 9, plus line 13.
64
Z.1, September 12, 1996
L.103 Nonfarm Noncorporate Business
Billions of dollars; levels, not seasonally adjusted
1990
1
Total financial assets
1991
1992
1993
1994
---------------------- 1995 ---------------------Q2
Q3
Q4
Ql
-------- 1996 ------Q2
Ql
4853
479.1
492.4
5055
519.1
523.0
527.1
531.4
5353
5402
5443
1
2
3
4
Checkable deposits and currency
Time and savings deposits
Money market fund shares
73.7
51.1
3.6
74.6
50.9
3.6
79.6
48.7
3.6
82.4
49.9
3.8
85.3
51.3
3.9
86.2
51.7
4.0
87.1
52.1
4.0
88.1
52.6
4.0
89.1
53.1
4.1
90.0
53.6
4.1
91.0
54.0
42
2
3
4
5
6
7
Treasury securities
Mortgages
Consumer credit
125
31.1
0.0
122
26.0
0.0
13.0
25.2
0.0
13.6
252
0.0
142
25.3
0.0
14.3
25.3
0.0
143
25.4
0.0
14.7
253
0.0
14.9
25.6
0.0
15.0
25.7
0.0
152
25.8
0.0
5
6
7
97.8
215.9
38.6
0.6
176.8
96.7
215.0
42.4
0.6
172.0
103.8
218.7
39.9
0.6
178.1
107.6
223.0
40.8
0.8
1815
111.6
2275
41.6
0.9
185.0
112.8
228.8
41.8
1.0
186.0
114.0
230.1
42.1
1.0
187.0
1152
231.3
42.3
1.0
188.0
116.6
232.6
42.6
1.0
189.0
118.0
233.8
42.8
1.0
190.0
119.3
235.0
43.1
1.0
190.9
8
9
10
11
12
13203
1320.1
1321.1
1333.6
1353.7
13653
13755
13845
1394.9
1407.7
14193
13
8
9
10
11
12
13
Trade receivables
Miscellaneous assets
Insurance receivables
Equity investment in GSEs (1)
Other
Tatal liabilities
14
Credit market instruments
11505
1137.3
1122.9
1129.9
1142.0
11535
1161.3
1167.4
1174.8
1184.7
1193.6
14
15
16
17
Bank loans n.e.c.
Other loans and advances
Mortgages
136.4
96.9
9172
135.0
91.1
911.3
137.7
89.1
896.2
138.2
89.4
902.3
150.7
94.9
896.4
155.7
98.8
899.0
159.7
99.8
901.8
1622
101.2
904.0
1642
104.3
906.3
167.7
107.2
909.8
171.7
1073
914.3
15
16
17
60.0
32.0
77.8
59.7
325
90.6
66.6
33.1
98.4
69.2
33.8
100.7
71.9
34.6
105.2
72.7
34.8
104.3
73.7
35.0
105.6
74.7
352
107.1
75.9
35.4
108.8
77.0
35.6
110.4
78.3
35.8
112.0
18
19
20
474
493
534
563
602
612
623
634
643
653
67.1
1
18
19
20
Trade payables
Taxes payable
Miscellaneous liabilities
(1) Equity in the Farm Credit System.
L.104 Farm Business (1)
Billions of dollars; levels, not seasonally adjusted
1
Tatal financial assets
2
Checkable deposits and currency
10.9
11.8
13.6
15.3
17.0
17.4
17.8
18.2
18.6
19.0
19.4
2
3
4
5
Miscellaneous assets
Insurance receivables
Equity investment in GSEs (2)
36.6
34.6
2.0
37.8
35.6
22
39.8
37.7
2.1
41.3
39.1
2.2
43.3
41.1
2.2
43.9
41.7
22
44.5
42.3
22
45.2
43.1
2.1
46.0
43.8
2.2
46.8
44.6
2.1
47.7
455
22
3
4
5
1482
147.9
1495
1525
155.7
1533
1573
1593
1573
1553
1603
6
6
Total liabilities
7
Credit market instruments
135.4
135.0
136.3
138.3
1412
138.9
142.8
144.8
142.7
140.3
145.3
7
8
9
10
Bank loans n.e.c.
Other loans and advances
Mortgages
32.9
23.6
78.9
34.6
21.1
79.3
34.7
20.9
80.7
36.8
20.3
812
38.7
193
83.0
36.9
18.6
83.4
40.0
19.0
83.8
41.5
19.0
84.4
39.7
18.4
84.6
37.6
17.5
85.2
40.9
17.9
865
8
9
10
12.7
13.0
132
142
143
14.6
14.8
14.9
15.1
152
15.3
11
11
Trade payables
(1) Corporate and noncorporate farms.
(2) Equity in the Farm Credit System.
65
Z.1, September 12,1996
L.105 State and Local Governments (1)
Billions of dollars; levels, not seasonally adjusted
1
Total financial assets
2
3
4
Checkable deposits and currency
Time and savings deposits
Security RPs
5
Credit market instruments
6
7
8
9
10
11
12
U.S. government securities
Treasury
Agency
Municipal securities
Mortgages
Taxes receivable
Total liabilities
1993
1994
1990
1991
1992
896.6
9253
906.1
9253
850.4
8263
815.4
774.4
755.0
732.4
7373
1
18.9
67.9
44.9
24.1
57.8
28.3
27.1
51.6
33.3
283
46.8
50.0
31.1
52.6
62.0
28.7
57.8
66.1
323
55.9
69.8
31.1
58.8
80.9
34.0
62.4
87.7
30.1
67.6
91.6
31.9
67.8
95.1
2
3
4
727.8
778.7
757.2
760.8
666.3
638.1
621.6
569.4
5383
511.4
510.6
5
603.6
400.2
203.4
14.0
110.2
6493
423.1
226.4
15.4
113.7
628.7
402.8
226.0
14.8
113.7
638.3
429.4
208.9
14.3
108.3
544.3
298.6
245.7
113
1103
516.1
2753
240.6
103
111.8
499.9
251.0
248.9
8.8
112.9
4493
203.6
245.6
7.2
113.0
419.1
1653
253.6
5.6
113.8
393.3
1413
252.1
3.9
114.3
393.9
124.2
269.8
1.9
114.8
6
7
8
9
10
37.1
37.0
38.9
39.1
383
36.1
35.8
34.3
32.4
31.8
31.8
11
1027.7
11003
1123.7
1186.6
1143.6
1131.1
1125.7
1103.1
1098.1
10963
11024
12
---------------------- 1995 ---------------------Q2
Q4
Q3
Ql
-------- 1996 ------02
Ql
13
Credit market instruments
993.2
1074.8
1095.9
11583
1114.8
1102.2
1096.8
1074.1
1069.1
10673
1073.3
13
14
15
16
17
Municipal securities
Short-term
Other
U.S. government loans
983.5
26.2
957.3
9.6
1064.8
33.1
1031.7
10.0
1086.1
32.0
1054.0
9.9
1149.0
33.8
1115.1
9.2
1106.6
31.7
1075.0
83
1094.3
35.3
1059.1
7.8
1089.3
31.1
1058.1
73
1067.0
31.1
1035.9
7.1
1062.4
32.9
1029.6
6.7
1061.2
343
1027.1
6.2
1067.5
31.9
1035.7
5.8
14
15
16
17
34.6
25.4
27.7
28.4
28.8
28.9
28.9
29.0
29.0
29.0
29.0
18
443.1
5013
4763
4903
4483
4623
4813
457.1
430.0
4523
4523
1
39.7
25.4
1.4
39.1
50.9
1.6
38.8
31.7
0.9
403
523
0.8
41.4
27.8
0.7
503
16.3
1.1
55.1
59.0
1.1
543
38.7
1.1
53.8
223
0.9
53.3
24.2
1.0
53.0
42.8
4.3
2
3
4
18
Trade payables
(1) Data for employee retirement funds are shown in table L.120.
L.106 Federal Government
Billions of dollars; levels, not seasonally adjusted
1
Tatal financial assets
2
3
4
Gold, SDRs, and official foreign exchange
Checkable deposits and currency
Time and savings deposits
5
Credit market instruments
240.1
248.0
236.0
231.7
207.6
2043
1983
1923
1863
1813
177.7
5
6
7
8
Agency securities
Mortgages
Other loans and advances
0.0
82.9
157.3
0.0
98.3
149.7
0.0
86.4
149.7
0.0
85.0
146.7
0.0
71.0
136.6
0.0
68.8
135.4
0.0
643
133.6
0.0
61.3
130.9
0.0
57.6
128.6
0.0
55.1
126.0
0.0
53.7
124.0
6
7
8
45.3
223
68.7
40.4
16.4
104.8
33.3
153
120.2
30.7
18.9
116.3
26.6
243
119.7
26.8
48.1
115.6
26.0
27.8
114.3
25.9
28.9
115.7
26.4
233
117.2
283
49.0
115.8
29.4
30.8
114.9
9
10
11
2885.7
31833
35093
37963
39893
40503
40673
41303
41583
42483
42453
12
10.0
16.3
10.0
16.3
8.0
163
8.0
17.0
8.0
17.6
8.0
17.8
8.0
18.0
10.2
18.2
10.2
183
103
183
10.2
183
13
14
2498.1
2776.4
3080.3
33363
3492.3
3557.9
35833
3603.4
3636.7
3717.2
3693.8
15
1263
2339.6
32.4
0.0
138.1
2619.7
18.6
0.0
157.3
2904.3
18.8
0.0
171.9
3138.0
26.6
0.0
179.9
3285.6
26.7
0.0
181.4
3350.1
26.4
0.0
182.6
3374.1
26.8
0.0
1833
3392.9
26.9
0.0
185.0
34233
283
0.0
185.8
3503.7
27.6
0.0
186.5
3479.1
283
0.0
16
17
18
19
91.2
262.4
7.7
85.8
288.0
7.0
83.1
315.0
6.9
863
3423
6.8
95.4
369.6
6.8
96.4
364.1
6.6
983
373.0
6.8
101.0
3913
6.6
101.3
385.4
6.7
1023
3933
6.6
112.6
403.9
6.6
20
21
22
9
10
11
12
Trade receivables
Taxes receivable
Miscellaneous assets
Tatal liabilities
13
14
SDR certificates
Treasury currency
15
Credit market instruments
16
17
18
19
20
21
22
Savings bonds
Other Treasury securities
Budget agency securities
Multifamily residential mortgages
Trade payables
Insurance and pension reserves
Miscellaneous liabilities
66
Z.1, September 12, 1996
L.107 Rest of the World
Billions of dollars; levels, not seasonally adjusted
1
Total financial assets
2
3
4
5
Net interbank assets
U.S. checkable deposits
U.S. time deposits
Security RPs
6
Credit market instruments
7
8
9
10
11
12
13
14
15
16
Open market peper
U.S. government securities
Official holdings
Treasury
Agency
Private holdings
Treasury
Agency
U.S. corporate bonds (1)
Loans to U.S. corporate business
1990
1991
1992
1993
1994
------------------- 1995 ------------------Ql
Q2
Q3
Q4
------- 1996 ------Ql
Q2
19002
20382
21972
25332
27202
27884
28822
3012.9
3251.0
34372
3506.7
1
53.3
21.8
49.2
19.7
36.6
20.4
49.0
20.9
79.9
21.9
47.9
41.7
125.4
21.6
54.7
61.4
218.1
232
56.3
47.9
214.1
23.0
54.9
58.4
209.8
22.3
51.3
64.7
2102
23.8
49.4
68.8
229.4
242
49.8
69.1
- 2092
23.4
522
76.2
189.0
27.6
50.9
80.9
2
3
4
5
902.4
928.8
1023.0
1147.0
1254.9
1323.3
1400.9
1492.4
1561.1
1653.6
1718.6
6
10.7
502.1
295.0
287.9
7.1
11.3
559.0
315.9
307.1
8.8
12.9
628.7
335.7
323.0
12.7
18.8
7412
388.3
3712
17.1
24.8
796.4
415.0
393.4
21.6
28.8
843.0
426.3
403.6
22.7
33.1
905.0
452.8
428.8
24.0
37.6
975.0
473.8
449.3
242
432
1027.6
498.9
4712
27.4
31.0
11092
554.6
527.1
272
42.4
1144.6
552.4
523.7
28.7
7
8
9
10
11
207.0
162.4
44.6
243.1
1892
53.6
293.0
225.1
67.9
353.1
253.9
99.2
381.4
266.6
114.8
416.8
296.6
1202
452.2
326.9
1252
5012
3642
137.0
528.7
388.9
139.8
555.0
400.8
1542
592.2
4322
159.8
12
13
14
2172
172.4
233.4
125.1
2512
129.9
273.3
113.4
311.4
122.3
325.4
126.1
338.3
1242
3532
126.3
3682
121.4
386.7
126.4
4042
127.0
15
16
17
18
19
U.S. corporate equities
Trade receivables
Security credit
243.8
42.8
0.0
299.0
42.3
0.0
3292
44.7
0.0
3732
47.9
0.0
368.9
50.9
0.0
398.6
50.7
0.0
4372
49.1
0.0
4792
49.9
0.0
509.0
51.9
0.0
5432
52.8
0.0
5642
54.0
0.0
17
18
19
20
21
22
Miscellaneous assets
Foreign direct investment in U.S. (2)
Other
567.3
467.3
100.0
641.4
491.9
1492
609.0
499.4
109.6
701.6
539.2
1622
699.7
579.8
119.9
665.2
590.4
74.9
646.7
600.4
46.4
638.9
626.0
12.9
7562
6382
117.7
825.9
667.0
159.0
8212
678.0
1432
20
21
22
1389.8
1387.9
1398.0
15722
1682.8
17302
18152
1849.7
1930.7
19892
19894
23
23
Tatal liabilities
24
25
U.S. official foreign exchange
and net IMF position
U.S. private deposits
61.3
297.9
55.4
2732
51.8
267.7
53.4
271.8
532
324.6
64.1
333.3
67.1
361.0
65.1
353.6
63.7
361.4
62.1
382.7
61.4
384.9
24
25
26
Credit market instruments
286.1
300.8
3152
385.6
370.4
385.7
396.8
419.8
439.9
450.8
459.7
26
75.3
115.4
81.8
1302
77.7
147.2
68.7
230.1
41.4
242.3
50.9
245.8
48.1
258.6
55.8
272.4
55.0
290.6
512
3022
53.4
305.4
27
28
182
2.8
5.9
9.8
60.4
16.3
21.6
2.4
6.9
12.3
55.0
12.0
23.9
3.3
7.6
13.0
55.1
11.3
24.6
2.4
8.8
132
53.9
8.2
26.1
2.2
8.8
152
52.7
7.9
282
8.9
16.7
52.9
7.9
29.6
2.1
92
17.9
52.8
7.7
31.6
2.3
10.6
18.7
51.9
8.1
34.6
2.6
10.9
21.1
512
82
36.8
22
122
22.4
51.1
8.9
402
3.3
13.1
24.1
51.4
9.0
29
30
31
32
33
34
27.4
0.0
30.4
0.0
31.8
0.0
35.9
0.0
392
0.0
39.7
0.0
43.3
0.0
422
0.0
452
0.0
42.4
0.0
40.7
0.0
35
36
717.2
20.9
0.6
632.1
632
727.7
22.4
1.6
655.4
48.2
731.6
23.8
1.7
668.0
38.1
825.6
25.0
2.0
714.8
83.8
895.0
26.4
22
779.3
87.1
907.7
26.7
1.8
7952
83.7
9472
27.0
1.8
815.3
1032
969.0
27.4
2.1
834.4
105.1
10202
27.9
2.1
880.1
110.4
1051.4
28.3
2.3
904.6
1162
1042.8
28.7
2.0
929.3
82.7
37
38
39
40
41
110.0
158.8
179.7
302.8
324.0
328.1
338.3
360.3
411.1
458.6
488.1
42
27
28
Commercial peper
Bonds
29
30
Bank loans n.e.c.
Official
31
32
33
34
Other
U.S. government loans
Acceptance liabilities to banks
Ranks
35
36
Trade payables
Security debt
37
38
39
40
41
Miscellaneous liabilities
U.S. equity in IBRD, etc.
U.S. government deposits
U.S. direct investment abroad (1,2)
Other
22
Memo:
42
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).
67
Z.1, September 12,1996
L.108 Monetary Authority (1)
Billions of dollars; levels, not seasonally adjusted
1990
1
Total financial assets
1991
1992
1993
1994
---------------------- 1995 ---------------------Q2
Q4
Q3
Ql
-------- 1996
Ql
02
3425
3645
381.7
4235
452.1
450.1
468.9
453.4
4715
459.7
469.1
1
2
3
4
Gold and foreign exchange
SDR certificates
Treasury currency
43.6
10.0
20.4
38.6
10.0
21.0
323
8.0
213
33.3
8.0
22.1
33.0
8.0
23.0
36.2
8.0
232
34.9
8.0
235
32.6
102
23.8
32.1
10.2
24.0
30.9
10.2
24.3
305
102
245
2
3
4
5
6
7
Federal Reserve float
Fed. Res. loans to domestic banks
Security RPs
22
02
18.4
0.7
03
15.9
3.3
0.7
8.1
0.9
0.1
13.2
-0.7
0.2
10.6
0.1
0.1
6.7
0.3
0.2
16.8
0.1
0.4
6.5
0.1
0.1
13.9
0.0
0.0
4.9
-02
0.6
7.1
5
6
7
8
Credit market instruments
241.4
2725
300.4
336.7
3682
367.1
375.7
370.6
380.8
379.6
386.3
8
0.0
241.4
235.1
6.3
0.0
0.0
2723
2663
6.0
0.0
0.0
300.4
295.0
5.4
0.0
0.0
336.7
332.0
4.6
0.0
0.0
3682
364.5
3.6
0.0
Q.0
367.1
363.7
3.4
0.0
0.0
375.7
372.6
3.1
0.0
0.0
370.6
367.7
2.9
0.0
0.0
380.8
378.2
2.6
0.0
0.0
379.6
377.1
25
0.0
0.0
386.3
383.9
2.4
0.0
9
10
11
12
13
6.0
5.6
7.4
9.6
9.8
8.6
9.4
92
10.7
9.7
10.1
14
9
10
11
12
13
14
Acceptances
U.S. government securities
Treasury
Agency
Bank loans n.e.c.
Miscellaneous assets
339.9
362.0
378.7
420.4
448.4
444.0
4642
448.8
4675
4552
4645
15
16
17
Depository institution reserves
Vault cash of commercial banks
38.7
32.6
29.4
33.6
32.1
31.9
35.0
32.7
30.8
38.1
30.0
31.3
24.9
33.6
23.4
33.1
29.6
40.6
24.7
34.4
24.6
35.7
16
17
18
19
20
21
Checkable deposits and currency
Due to federal government
Due to rest of the world
Currency outside banks
264.3
95
0.4
254.4
2933
18.3
1.0
274.2
311.1
8.0
0.2
302.8
348.2
152
0.4
332.6
3735
75
0.3
365.7
375.7
4.9
0.4
370.3
398.4
21.3
0.2
376.9
3855
8.9
0.3
3762
390.5
6.2
0.5
383.7
389.6
7.3
0.4
381.9
3975
8.0
0.4
389.1
18
19
20
21
22
23
24
Miscellaneous liabilities
Federal Reserve Bank stock
Other
4.3
2.4
1.9
53
2.7
2.8
3.7
3.1
0.6
4,6
3.4
12
6.0
3.7
2.3
7.0
3.8
32
72
3.8
3.4
6.9
3.9
2.9
7.2
4.0
3.3
65
4.0
25
6.6
4.1
2.4
22
23
24
15
Total liabilities
(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.
68
Z.1, September 12, 1996
L.109 Commercial Banking (1)
Billions of dollars; levels, not seasonally adjusted
---------------------- 1995 ---------------------Q2
Q3
Q4
Ql
------- 1996 ------Q2
Ql
1990
1991
1992
1993
1994
3338.6
34433
36572
3894.9
4163.7
4257.7
4342.7
4417.7
4498.9
4515.1
4567.7
1
32.6
35.3
23
33.6
26.5
1.8
31.9
29.0
1.3
32.7
313
1.0
38.1
28.0
1.4
31.3
273
1.2
33.6
22.3
13
33.1
20.8
1.2
40.6
26.9
1.6
34.4
22.0
1.4
35.7
22.1
13
2
3
4
2767.2
2872.3
3011.8
3174.4
3331.2
3395.9
34873
3550.6
3604.6
36233
3668.9
5
U.S. government securities
Treasury
Agency
456.9
172.1
284.8
568.2
2323
335.7
672.9
294.4
3783
745.4
322.2
423.2
719.1
290.4
428.7
741.9
308.1
433.9
745.8
298.4
4473
7513
289.4
462.1
746.1
278.7
4673
755.3
284.0
471.3
754.2
280.4
473.7
6
7
8
9
10
Municipal securities
Corporate and foreign bonds
117.4
88.7
103.2
96.3
973
94.7
992
982
97.6
1023
95.3
100.9
94.4
1023
93.3
108.6
93.4
110.9
93.0
109.7
92.7
110.4
9
10
11
12
13
14
15
16
Total loans
Open market peper
Bank loans n.e.c.
Mortgages
Consumer credit
Security credit
2100.2
12.7
815.0
849.3
387.0
36.2 *
2097.0
10.6
785.9
881.3
372.4
46.8
2139.8
9.2
776.6
9003
3653
88.0
22233
7.3
768.2
947.7
399.7
100.7
2407.1
5.8
830.4
1013.1
• 462.9
94.9
2452.8
43
864.4
1033.8
463.0
922
2539.0
5.7
898.8
10622
476.3
96.0
2590.1
5.4
916.3
1082.0
492.4
93.9
2646.9
5.7
943.9
1090.1
507.8
993
2657.8
6.1
956.7
1097.3
500.9
96.8
2703.7
4.9
989.4
1109.7
507.8
91.9
11
12
13
14
15
16
17
18
Corporate equities
Mutual fund shares
22
1.9
3.8
3.7
3.4
3.4
4.3
3.9
2.9
2.0
2.8
2.1
3.0
2.4
4.6
2.6
5.0
2.3
52
23
5.6
2.3
17
18
453
455.4
35.3
474.3
31.7
551.6
25.3
630.0
22.9
742.1
24.0
777.8
24.3
773.8
23.7
788.3
22.3
802.9
22.6
8112
22.1
8173
19
20
3251.1
33633
35323
37503
4048.9
4115.4
4170.7
42443
43334
43293
4398.0
21
1
Total financial assets
2
3
4
Vault cash
Reserves at Federal Reserve
Checkable deposits and currency
5
Total bank credit
6
7
8
19
20
21
Customers* liab. on acceptances (2)
Miscellaneous assets
Total liabilities
22
23
24
25
Net interbank liabilities
To monetary authority
To domestic banks (3)
To foreign banks
23.7
2.4
-32.0
53.3
33.4
0.9
-4.2
36.6
743
3.9
-9.3
79.9
121.7
1.0
-4.7
125.4
211.1
-03
-63
218.1
2113
0.1
-2.7
214.1
207.4
0.5
-2.9
209.8
210.8
03
0.1
2102
220.6
02
-9.0
229.4
207.0
0.1
-2.6
2093
1813
0.4
-8.0
189.0
22
23
24
25
26
27
28
29
Checkable deposits
Federal government
Rest of the worid
Private domestic
584.0
30.9
21.4
531.6
621.6
36.4
19.4
565.7
714.3
30.6
21.7
662.1
788.4
42.6
21.3
7243
756.7
23.8
23.2
709.8
706.8
15.6
22.6
668.6
7313
39.7
22.1
669.7
694.0
30.3
233
6402
710.8
19.0
24.0
667.8
659.3
16.8
23.1
619.4
673.4
31.4
27.2
614.8
26
27
28
29
30
31
32
Small time and savings deposits
Large time deposits
Federal funds and security RPs (net)
1307.6
423.6
248.8
13863
399.6
1389.3
332.8
272.0
1376.3
333.0
391.7
1390.0
354.1
415.7
1422.0
360.8
229.6
1377.4
311.7
3133
426.9
1455.9
385.7
440.6
1490.1
387.8
422.2
1548.6
402.4
428.3
1557.7
420.1
450.1
30
31
32
33
Credit market instruments
197.7
184.6
194.6
208.0
228.1
232.7
242.8
252.0
250.6
241.8
252.0
33
822
108.9
6.7
62.1
1132
9.3
54.4
127.6
123
51.9
134.9
21.2
55.0
142.6
303
553
147.4
29.9
55.3
1542
33.3
58.2
159.4
34.4
52.8
161.1
36.7
53.4
155.9
32.4
56.7
161.6
33.8
34
35
36
0.6
465.1
03
507.6
0.7
554.6
12
628.4
1.9
750.1
2.1
8023
2.3
776.9
2.6
802.9
2.8
848.4
3.1
839.0
3.4
859.9
37
38
27723
2853.3
2948.6
3090.8
3254.3
3327.8
3410.1
34732
3520.1
3541.6
3591.1
39
34
35
36
37
38
Open market paper
Corporate bonds
Other loans and advances
Taxes payable
Miscellaneous liabilities
Memo:
39
Credit market funds advanced (4)
(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 16) less corporate equities (line 17) less mutual fund shares (line 18) plus customers* liability on acceptances (line 19).
69
Z.1, September 12, 1996
L.110 U.S.-Chartered Commercial Banks
Billions of dollars; levels, not seasonally adjusted
1990
1
Total financial assets
2
Vault cash and reserves at Federal Reserve
3
Total bank credit
1991
1992
1993
1994
---------------------- 1995 ---------------------Q4
Q2
Q3
Ql
--------1996
Ql
02
26442
26772
27752
2932.4
3122.9
31683
3216.8
3269.7
3321.7
33222
33573
1
66.7
59.2
60.2
63.2
65.2
58.3
55.1
53.4
66.6
56.0
572
2
2481.3
2527.4
26234
2780.9
2921.4
2956.1
3019.8
3077.8
3116.3
3126.7
3155.1
3
U.S. government securities
Treasury
Agency
Mortgage pool securities
Agency-issued CMOs
Other agency securities
432.3
157.4
274.9
144.7
54.8
75.4
529.0
207.8
321.2
153.7
89.4
78.1
6143
254.3
360.1
1553
122.7
81.9
671.3
275.0
396.3
173.2
133.8
89.3
646.1
248.0
398.1
1822
119.4
963
641.3
2453
395.8
177.9
1163
101.4
631.6
226.9
404.7
1773
113.9
1132
640.4
221.5
419.0
189.9
109.3
119.7
629.1
207.6
4214
195.1
101.0
125.3
631.9
208.4
423.4
204.7
97.3
121.4
624.8
200.1
424.7
209.5
90.9
124.3
4
5
6
7
8
9
10
11
12
13
14
Municipal securities
Corporate and foreign bonds
Private mortgage pool securities
Privately issued CMOs
Other bonds
116.8
65.4
32
0.0
622
102.7
69.7
34
28.2
38.0
97.0
66.6
3.8
21.6
41.1
98.9
66.6
4.7
19.8
42.1
97.0
66.0
3.6
213
40.9
94.7
62.6
3.3
21.6
37.7
93.8
632
3.4
22.6
372
92.6
66.9
3.9
23.6
39.4
92.7
69.3
44
24.9
39.8
92.2
69.4
4.4
25.9
39.1
91.9
68.7
42
25.4
39.0
10
11
12
13
14
15
16
17
18
19
20
Total loans
Open market paper
Bank loans n.e.c.
Mortgages
Consumer credit
Security credit
1862.8
84
6402
799.3
387.0
27.8
1818.4
73
586.7
821.8
372.4
30.0
1838.6
5.9
567.0
842.9
3653
57.3
1935.9
4.9
574.6
895.4
399.7
61.4
2107.4
3.6
620.1
964.0
462.9
56.8
21523
3.3
644.1
986.0
463.0
56.1
2225.7
3.9
667.9
1015.4
476.3
62.3
2270.7
3.9
679.0
1036.0
492.4
59.5
2317.9
3.9
695.9
1045.2
507.8
65.1
2325.6
4.1
7034
1054.0
500.9
63.0
2361.7
3.4
723.9
10672
507.8
59.3
15
16
17
18
19
20
21
22
Corporate equities
Mutual fund shares
2.1
1.9
3.8
3.7
3.4
3.4
4.3
3.9
2.9
2.0
2.7
2.1
3.0
2.4
4.6
2.6
5.0
2.3
52
24
5.6
2.3
21
22
172
79.0
12.6
78.1
12.6
79.0
10.1
78.1
9.9
126.4
11.4
1423
11.7
130.2
12 J
125.9
12.3
126.6
12.8
126.8
134
132.1
23
24
2722.9
2777.7
28622
30363
32714
33014
3330.1
33904
3457.7
3440.4
3502.6
25
4
5
6
7
8
9
23
24
25
Customers’ liab. on acceptances (1)
Miscellaneous assets
Total liabilities
26
27
28
29
30
Net interbank liabilities
Federal Reserve float
Borrowing from Federal Reserve banks
To domestic banks
To foreign banks
-52.1
2.2
02
-69.0
14-5
-41.1
0.7
0.2
-47.9
5.9
-48.8
3.3
0.7
-33.6
-192
-19.4
0.9
0.1
-19.9
-03
60.4
-0.7
02
-13.3
74.2
52.6
0.1
0.1
-24.7
77.1
44.8
0.3
0.2
-28.3
72.6
54.9
0.1
0.4
-18.2
72.6
544
0.1
0.1
-20.0
742
21.4
0.0
0.0
-39.9
61.2
12.8
-0.2
0.6
-384
50.8
26
27
28
29
30
31
32
33
34
Checkable deposits
Federal government
Rest of the world
Private domestic
569.8
30.9
16.3
522.6
607.4
36.4
14.1
556.9
7002
30.6
15.8
653.8
773.9
42.6
15.6
715.7
741.7
23.8
17.1
700.9
692.9
15.6
17.0
6602
717.3
39.7
16.8
660.8
679.9
30.3
18.0
6314
695.8
19.0
18.0
658.7
6444
16.8
174
610.1
658.2
31.4
20.9
605.9
31
32
33
34
35
36
37
Small time and savings deposits
Large time deposits
Federal funds and security RPs (net)
12874
365.4
219.7
13673
292.3
192.6
1369.6
216.1
2342
1358.7
196.1
279.6
1358.0
214.0
351.3
1372.0
232.7
380.7
1403.4
237.5
382.0
1437.4
247.0
4022
1471.3
2564
379.6
1529.9
266.6
3872
1539.3
2792
397.1
35
36
37
38
39
40
41
Acceptance liabilities
Corporate bonds
Other loans and advances
Taxes payable
17.6
242
6.7
0.6
12.9
252
9.3
03
12.8
333
123
0.7
10.2
37.1
212
12
10.0
40.6
303
1.9
113
40.7
29.9
2.1
11.7
42.0
33.3
2.3
124
434
34.4
2.6
12.3
43.3
36.7
2.8
12.8
45.1
32.4
3.1
13.4
47.6
33.8
3.4
38
39
40
41
42
43
44
Miscellaneous liabilities
investment by bank holding companies
Other
283.6
207.8
75.8
311.2
2272
84.0
331.3
255.0
76.3
377.6
286.6
91.0
463.0
3042
158.9
4863
317.1
169.4
455.8
325.9
129.9
476.3
337.4
139.0
505.0
344.3
160.7
497.3
348.6
148.7
517.9
361.7
156.2
42
43
44
2466.7
25023
2571.9
27213
2869.6
29063
2963.7
3023.7
3056.1
3068.8
3101.3
45
Memo:
45
Credit market funds advanced (2)
(1) Included in other loans and advances (table L.216).
(2) Total bank credit (line 3) less security credit (line 20) less corporate equities (line 21) less mutual fund shares (line 22) plus customers* liability on acceptances (line 23).
70
Zl, September 12, 1996
L.lll Foreign Banking Offices in U.S. (1)
Billions of dollars; levels, not seasonally adjusted
1990
1
Total financial assets
2
Reserves at Federal Reserve
3
Total bank credit
4
5
6
7
8
U.S. government securities
Treasury
Agency
Municipal securities
Corporate and foreign bonds
9
10
11
12
13
Total loans
Open market paper
Bank loans n.e.c.
Mortgages
Security credit
14
Corporate equities
15
16
17
Customers* liab. on acceptances (2)
Miscellaneous assets
Total liabilities
3674
1991
439.1
1992
5115
1993
5453
1994
593.7
---------------------- 1995 ---------------------Q2
Q4
Q3
Ql
6255
645.0
6544
6714
-------- 1996 -------02
Ql
6793
6793
1
12
0.9
0.7
1.0
1.0
0.4
0.8
05
0.8
05
0.6
2
250.9
313.4
347.4
350.2
362.3
392.1
417.0
424.4
436.9
446.2
461.4
3
18.6
11.4
32.0
20.8
57.6
36.1
215
0.0
23.8
55.7
32.7
23.0
0.0
28.9
845
533
313
0.0
30.4
96.1
60.0
36.1
0.0
31.3
95.1
58.9
363
0.0
33.7
99.6
62.3
37.3
0.0
335
106.9
67.8
39.1
0.0
32.6
112.8
72.3
40.6
0.0
32.8
4
5
6
7
8
268.8
2.4
182.0
45.1
39.3
277.7
23
197.2
40.3
38.1
277.3
13
206.2
38.8
31.1
289.6
1.8
2165
37.7
33.7
295.6
15
222.8
36.8
345
303.9
1.7
232.6
35.1
34.4
306.6
2.0
237.7
333
33.8
315.7
15
249.4
32.3
32.6
9
10
11
12
13
72
112
0.0
17.7
0.0
21.4
43.7
29.6
14.1
0.0
22.4
214.6
4.1
1565
455
8.4
260.0
3.1
185.8
54.3
16.8
281.3
3.3
195.7
51.6
30.7
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
14
28.3
87.2
22.7
102.1
19.1
144.4
15.1
179.0
13.0
2175
125
220.8
12.6
2145
11.2
218.6
10.1
223.6
9.8
222.9
8.6
208.7
15
16
3743
446.4
5193
553.7
6025
6353
6545
6643
6813
6894
6894
17
18
19
20
Net interbank liabilities
To foreign banks
To domestic banks
87.1
46.7
40.3
88.9
41.1
47.8
134.3
1035
30.8
151.2
132.7
185
162.4
1585
3.9
172.1
153.0
19.1
176.9
154.1
22.9
173.3
156.8
165
181.0
173.6
75
190.4
167.8
22.6
172.3
154.8
175
18
19
20
21
22
23
Checkable deposits
Small time and savings deposits
Large time deposits
8.7
11.0
49.2
8.9
11.0
99.3
8.3
11.2
108.2
8.3
10.4
107.4
8.8
9.3
110.0
8.1
8.7
1123
7.9
93
113.9
8.1
8.9
129.0
8.7
8.5
121.0
8.6
8.3
125.4
8.7
7.7
130.2
21
22
23
24
25
Federal funds and security RPs (net)
Acceptance liabilities
29.6
345
38.4
24.9
39.0
21.2
34.7
16.0
41.4
13.4
355
13.0
43.8
12.9
38.8
11.6
43.2
10.4
415
10.0
53.4
8.8
24
25
26
27
28
29
Miscellaneous liabilities
Foreign direct investment in U.S.
Due to affiliates
Other
154.2
18.4
47.6
88.1
175.0
24.9
30.3
119.9
197.1
28.4
215
147.3
225.7
335
23.8
168.4
257.6
35.6
37.0
185.0
285.4
375
405
207.4
289.9
37.3
40.8
211.8
294.6
39.6
41.4
213.6
3085
41.8
40.0
226.7
305.2
42.8
41.0
221.4
308.6
43.8
40.4
224.4
26
27
28
29
270.8
319.2
335.8
326.0
337.1
373.6
396.0
401.1
412.6
422.2
437.4
30
Memo:
30
Credit market funds advanced (3)
(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies, and American Express Bank.
(2) Included in other loans and advances (table L216).
(3) Total bank credit (line 3) less security credit (line 13) less corporate equities (line 14) plus customers* liability on acceptances (line 15).
71
Z.1, September 12,1996
L.112 Bank Holding Companies
Billions of dollars; levels, not seasonally adjusted
1990
1
2
3
4
5
6
7
8
9
10
11
12
Total financial assets
Credit market instruments
Total liabilities
13
14
15
Net interbank liabilities
To domestic banks
To foreign banks
16
Federal funds and security RPs (net)
17
18
19
Credit market instruments
Commercial paper
Corporate bonds
20
Miscellaneous liabilities
1992
1993
1994
---------------------- 1995 ---------------------Ql
Q2
Q3
Q4
-------- 1996 ------Ql
02
298.4
3023
3423
387.9
414.1
4303
446.0
4582
4663
474.4
4903
1
13.4
11.9
173
173
18.4
18.0
19.3
16.9
18.0
16.8
18.1
2
2.6
0.7
1.9
5.6
5.3
3.4
1.0
2.4
5.1
3.4
8.3
6.1
2.2
5.4
3.7
8.4
5.3
3.1
72
1.9
9.4
4.6
4.8
7.1
1.8
8.0
3.9
4.1
73
23
93
5.6
3.9
73
2.2
7.2
3.0
4.2
7.8
1.9
8.1
3.4
4.7
7.7
2.3
73
2.8
4.7
7.3
1.9
7.6
2.8
4.8
8.6
2.0
3
4
5
6
7
285.0
207.8
55.2
22.0
290.4
227.2
40.9
222
3252
255.0
43.2
27.0
370.4
286.6
56.3
273
395.8
3042
56.4
35.2
4123
317.1
36.9
426.7
325.9
64.6
362
441.3
337.4
63.6
40.4
448.8
344.3
64.6
39.8
457.7
348.6
68.3
40.8
472.8
361.7
71.2
39.8
8
9
10
11
126.4
1143
124.4
1322
143.0
1472
152.7
156.0
157.1
162.4
168.0
12
-112
-3.4
-7.9
-14.3
-4.1
-10.3
-11.0
-63
-4.5
-10.0
-3.3
-6.8
-11.7
2.9
-14.6
-13.1
2.9
-16.0
-14.3
23
-16.8
-17.3
1.8
-19.2
-14.9
3.5
-18.5
-4.9
14.6
-19.6
-3.6
13.0
-16.6
13
14
15
-0.4
-1.4
-12
-0.8
-0.9
-0.6
1.1
-0.4
-0.5
-0.4
-0.4
16
114.8
30.1
84.7
112.3
24.3
88.0
114.6
20.4
94.1
123.4
25.6
97.7
133.6
31.6
102.0
137.7
31.0
106.7
142.9
30.8
112.1
150.0
34.1
115.9
148.0
30.1
117.9
141.4
30.6
110.8
148.4
34.4
114.0
17
18
19
23.3
182
22.0
19.6
22.0
23.2
22.9
23.7
24.6
26.3
23.6
20
283
25.1
27.7
294
33.1
33.0
343
352
39.0
39.1
39.8
1
23
1.8
1.3
1.0
1.4
1.2
13
12
1.6
1.4
13
2
21.6
19.7
23.4
25.8
292
29.8
31.1
313
33.4
33.9
34.3
3
3.4
23
0.9
0.6
0.0
3.8
2.8
1.0
03
0.1
6.4
4.3
2.1
03
0.4
8.1
5.8
2.3
02
0.6
7.9
5.1
2.8
0.6
03
8.1
5.4
2.8
0.6
03
8.6
5.9
2.8
0.6
03
8.8
5.9
2.8
0.7
02
9.4
5.4
4.0
0.7
0.4
9.0
5.1
4.0
0.7
0.4
9.0
5.3
3.7
0.7
0.3
4
5
6
7
8
13.0
2.0
23
10.0
2.0
32
102
3.0
3.0
9.7
4.1
3.1
11.3
4.8
4.0
11.6
4.8
4.1
122
5.3
3.8
12.6
5.4
3.9
13.1
5.7
4.0
13.7
5.8
42
14.2
6.1
4.1
9
10
11
42
3.7
3.0
2.6
2.4
2.0
2.4
23
4.0
3.8
3.9
12
U.S. government securities
Treasury issues
Agency
Corporate and foreign bonds
Bank loans n.e.c.
Miscellaneous assets
Investment in bank subsidiaries
Investment in nonbank subsidiaries
Other
1991
583
L.113 Banks in U.S.-Affiliated Areas (1)
Billions of dollars; levels, 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
U.S. government securities
Treasury
Agency
Municipal securities
Corporate and foreign bonds
Bank loans n.e.c.
Home mortgages
Commercial mortgages
Miscellaneous assets
273
24.4
263
282
31.7
31j6
334
33.7
372
373
14
15
16
Checkable deposits
Small time and savings deposits
Large time deposits
5.4
9.1
9.1
52
8.1
8.1
5.8
83
83
6.1
8.2
8.2
62
9.0
9.0
5.9
92
9.2
62
93
93
6.0
9.7
9.7
6.4
10.2
102
6.2
103
10.4
63
10.8
10.8
14
15
16
17
Miscellaneous liabilities
4.0
3.1
42
5.6
7.4
7.3
8.3
8.3
10.3
10.2
9.9
17
13
Total liabilities
(1) Commercial beaks and branches of U.S.-chartered commercial banks located in Puerto Rico, the Virgin Islands, Samoa, Guam, and other U.S.-affiliated insular areas.
13
72
Z.1, September 12, 1996
L.114 Savings Institutions (1)
Billions of dollars; levels, not seasonally adjusted
1990
1991
1992
1993
1994
Ql
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
--------- 1995 ----------Q2
Q3
Q4
1357.7
1172.0
10785
10295
10135
10172
10202
10285
10162
3.4
11.0
52
21.6
2.9
12.9
5.0
15.1
3.1
12.4
3.7
14.4
3.4
15.4
3.0
10.6
2.8
13.9
1.3
65
25
12.3
1.1
8.8
2.6
13.3
1.0
9.9
2.6
13.4
1.1
10.1
2.7
155
1.1
112
1176.5
10132
937.4
914.0
920.9
925.3
922.4
930.4
------- 1996 ------Q2
Ql
10064
10015
1
2.7
13.7
1.0
112
25
13.1
0.9
105
2
3
4
5
913.3
908.3
9095
6
-
7
8
9
10
Open market paper
U.S. government securities
Treasury
Agency
0.7
2115
25.9
185.7
1.3
170.0
25.0
145.0
0.6
177.0
34.0
143.0
0.3
1755
28.2
147.3
0.1
187.0
27.1
159.9
0.1
187.0
23.7
163.4
0.3
183.3
21.4
161.9
02
186.5
215
165.0
0.2
183.0
18.4
1646
02
1802
18.6
161.6
0.2
177.1
182
158.9
7
8
9
10
11
12
13
14
15
Municipal securities
Corporate and foreign bonds
Other loans and advances
Mortgages
Consumer credit
3.0
75.6
34.3
801.6
49.6
2.4
72.7
19.3
705.4
422
2.1
80.0
12.4
628.0
37.4
2.1
89.1
10.8
598.3
37.9
2.0
86.7
10.3
596.2
385
2.0
84.9
11.9
601.8
375
2.0
865
12.1
599.7
38.5
2.0
84.8
125
604.6
39.7
2.0
785
12.8
596.8
40.1
2.0
75.6
13.6
595.9
40.8
1.9
69.3
145
606.2
40.3
11
12
13
14
15
8.8
131.2
10.3
112.6
112
96.6
125
70.4
10.4
57.8
11.3
56.0
12.6
58.4
13.6
57.2
14.3
58.1
15.9
53.7
16.3
48.7
16
17
13415
1160.0
10675
1016.1
9985
10005
10015
10065
995.1
9845
9792
18
1050.4
68.0
8625
119.9
9375
85.3
767.6
84.6
852.8
84.0
692.2
76.7
785.4
88.3
624.0
73.0
733.6
83.0
579.6
71.0
739.3
81.8
583.4
74.1
738.1
86.1
575.8
76.2
736.1
90.3
567.1
78.6
727.9
97.1
550.7
80.1
7185
103.4
534.7
805
708.8
109.0
519.1
80.6
19
20
21
22
425
19.6
18.6
26.1
445
44.6
51.1
565
445
43.9
36.2
23
16
17
18
Corporate equities
Miscellaneous assets
Total liabilities
19
20
21
22
Deposits
Checkable
Small time and savings
Large time
23
Security RPs
24
25
26
27
Credit market instruments
Corporate bonds
Bank loans n.e.c.
Other loans and advances
140.1
12.7
9.7
117.7
95.4
8.6
8.9
77.8
88.4
55
8.9
74.0
99.6
3.9
8.4
87.3
112.4
3.1
9.3
100.0
107.7
3.1
10.0
94.6
105.9
3.1
11.3
915
107.2
3.1
12.4
91.6
115.0
3.1
14.6
97.4
117.8
2.9
15.2
99.7
127.8
2.6
14.8
1105
24
25
26
27
28
29
30
31
Taxes payable
Miscellaneous liabilities
Investment by parent
Other
0.9
107.6
6.0
101.6
1.2
106.4
5.0
101.4
1.4
106.8
4.0
102.8
1.9
103.0
4.4
98.6
1.0
106.7
4.4
102.3
1.3
107.6
4.4
1032
12
105.6
4.4
101.1
1.6
107.0
45
1025
1.6
106.1
45
101.6
1.6
102.4
45
97.9
1.4
105.0
4.6
100.4
28
29
30
31
(1) Savings and loan associations, mutual savings banks, and federal savings hanks.
73
Z.1, September 12,1996
L.115 Credit Unions
Billions of dollars; levels, not seasonally adjusted
1990
1991
1992
1993
1994
---------------------- 1995 ---------------------Q3
Q2
Q4
Ql
-------- 1996 ------02
Ql
217.0
2395
263.9
280.9
2923
298.0
3033
306.7
310.1
323.7
328.0
1
4.8
21.7
14.6
5.4
26.7
13.2
6.6
27.0
135
65
25.6
8.5
65
16.7
6.2
7.2
16.3
9.2
7.1
16.4
85
7.1
17.2
7.9
7.4
17.1
6.4
8.0
19.9
10.4
75
19.3
7.1
2
3
4
166.6
179.4
197.1
218.7
246.8
248.1
255.0
2585
263.0
267.1
276.6
5
Open market paper
U.S. government securities
Treasury
Agency
2.3
23.0
8.5
14.4
2.6
33.7
14.1
19.6
3.0
48.6
19.9
28.7
2.2
58.9
22.6
36.3
2.1
62.9
22.1
40.9
1.7
62.1
21.2
40.9
1.3
63.9
20.2
43.7
0.7
63.1
19.9
43.2
0.6
64.1
18.3
45.7
0.3
68.1
20.6
475
0.3
70.9
21.0
49.9
6
7
8
9
10
11
Home mortgages
Consumer credit
49.7
91.6
52.8
90.3
56.1
89.4
56.0
101.6
62.1
119.6
63.8
120.6
64.1
125.7
655
129.2
665
131.9
67.8
130.8
70.8
134.6
10
11
12
13
Mutual fund shares
Miscellaneous assets
1.4
7.9
2.6
12.3
4.1
15.7
45
17.3
0.0
16.7
0.0
17.2
0.0
16.8
0.0
16.1
0.0
165
0.0
18.4
0.0
175
12
13
204.7
2253
2475
2603
2705
2745
2795
2814
283.7
2965
3005
14
200.8
18.3
179.1
3.4
221.3
205
1965
45
242.9
25.1
212.0
5.8
2555
26.8
221.8
6.9
263.4
28.8
227.3
7.3
2695
29.4
226.8
13.0
274.2
30.2
224.7
19.3
276.4
305
232.8
135
278.8
30.9
238.9
9.0
292.1
31.3
253.1
7.7
295.9
32.0
256.1
7.8
15
16
17
18
0.0
3.9
0.0
45
0.0
4.6
0.2
5.1
05
6.4
0.4
4.9
0.3
4.7
0.4
4.6
0.4
45
0.4
4.4
0.3
4.3
19
20
522.1
6085
6295
6605
670.0
6905
7115
730.7
740.0
754.7
7645
1
47.2
1.0
20.3
26.0
46.2
1.0
15.7
29.6
40.6
0.9
105
295
395
0.8
9.4
29.3
41.4
05
11.0
29.9
41.7
05
10.9
30.3
42.0
05
10.7
30.9
42.3
05
10.3
315
42.6
05
10.0
32.0
42.8
0.6
9.8
325
43.1
0.6
95
33.0
2
3
4
5
213.4
2235
2315
240.9
248.0
245.3
2405
234.2
2295
224.7
221.6
6
1
Total financial assets
2
3
4
Checkable deposits and currency
Time and savings deposits
Federal funds and security RPs
5
Credit market instruments
6
7
8
9
14
Total liabilities
15
16
17
18
Shares/deposits
Checkable
Small time and savings
Large time
19
20
Other loans and advances
Miscellaneous liabilities
L.116 Bank Personal Trusts and Estates (1)
Billions of dollars; levels, not seasonally adjusted
1
Total financial assets
2
3
4
5
Deposits
Checkable deposits and currency
Time and savings deposits
Money market fund shares
6
Credit market instruments
7
8
9
10
Open market paper
U.S. government securities
Treasury
Agency
305
70.7
395
315
25.2
73.6
40.9
32.6
22.8
72.0
40.1
31.8
195
73.1
40.4
32.7
23.0
72.0
39.8
32.2
23.3
71.0
39.2
31.8
23.4
69.6
38.3
31.3
23.3
68.1
37.4
30.8
23.3
66.7
36.5
30.2
23.3
65.3
35.6
29.7
23.4
63.9
34.8
29.1
7
8
9
10
11
12
13
Municipal securities
Corporate and foreign bonds
Mortgages
80.8
27.3
4.2
89.9
30.7
4.0
96.0
36.8
3.9
108.9
35.8
3.6
1145
35.3
3.4
112.7
34.8
35
109.6
33.9
3.6
106.1
33.0
3.7
103.1
32.2
3.9
100.6
315
4.0
99.3
31.0
4.1
11
12
13
190.1
62.7
2345
93.6
216.9
128.1
181.0
1835
165.3
202.4
174.7
216.7
188.6
228.3
197.0
245.1
2005
256.0
2075
268.1
211.0
277.6
14
15
8.7
10.8
12.6
16.0
12.9
12.5
12.3
12.1
11.9
11.6
11.3
16
551.7
6395
6605
6915
6995
719.7
739.7
7585
7675
7815
791.0
17
14
15
Corporate equities
Mutual fund shares
16
Miscellaneous assets
17
Total liabilities (2)
(1) Includes personal trusts and estates administered by nondeposit noninsured trust companies.
(2) Equal to value of tangible and financial assets. These liabilities are assets of the household sector.
74
Z.1, September 12, 1996
L.117 Life Insurance Companies
Billions of dollars; levels, not seasonally adjusted
1990
1991
1992
1993
1994
Ql
1
Total financial assets
2
3
Checkable deposits and currency
Money market fund shares
4
Credit market instruments
--------- 1995 ---------------------Q4
Q3
Q2
-------- 1996 ------Q2
Ql
13674
15053
16143
17843
1882.7
19422
2002.4
2048.9
2084.7
21183
21553
1
4.9
18.1
53
25.0
4.8
30.3
52
303
5.7
15.8
6.0
17.0
6.1
21.0
6.1
22.0
6.4
26.0
6.3
28.4
6.4
32.1
2
3
1134J
1224.6
1309.1
1420.6
1487.0
1523.1
1557.1
15753
1586.2
16003
1629.7
4
5
6
7
8
Open market paper
U.S. government securities
Treasury
Agency
45.7
180.2
59.2
121.0
45.8
241.9
77.8
1642
43.2
281.8
88.8
193.0
46.9
332.8
110.0
222.8
52.7
341.2
107.1
234.1
553
353.3
1112
242.1
54.7
355.7
111.8
244.0
562
359.3
111.8
247.4
453
351.0
108.1
242.9
542
344.9
105.8
239.1
53.8
3463
106.0
2403
5
6
7
8
9
10
11
12
Municipal securities
Corporate and foreign bonds
Policy loans
Mortgages
12.3
566.9
61.6
267.9
102
595.1
66.4
265.3
11.4
653.9
72.1
246.7
14.7
7193
77.7
229.1
12.8
779.4
853
215.3
11-7
800.3
87.0
2152
132
829.4
88.7
215.4
12.7
838.4
91.0
217.9
11.9
870.1
95.9
211.8
12.3
879.6
97.8
211.7
13.0
9063
993
2103
9
10
11
12
151.4
13.1
1753
16.9
228.0
23.9
274.4
7.4
291.7
9.0
314.6
10.0
341.1
11.0
357.8
14.1
3753
17.0
378.2
20.8
13
14
85.7
77.7
76.7
92.4
953
93.6
93.2
94.3
91.1
88.7
15
12913
14094
1525.1
16773
17733
18253
18803
19203
19533
1988.1
20234
16
13
14
Corporate equities
Mutual fund shares
97.9
30.7
15
Miscellaneous assets
81.3 *
16
Total liabilities
17
18
19
Other loans and advanoes
Life insurance reserves
Pension fund reserves (1)
0.0
368.1
5952
0.0
393.8
655.7
0.0
4213
745.1
0.2
457.2
853.8
0.6
4913
897.4
0.6
504.4
926.3
0.6
5183
961.4
0.6
527.0
990.0
03
536.3
1012.3
1.1
541.6
10423
1.2
559.0
1055.1
17
18
19
20
21
Taxes peyable
Miscellaneous liabilities
0.6
327.3
0.6
3593
1.4
357.1
2.0
364.7
2.1
382.0
2.0
3922
2.0
398.4
1.9
400.8
1.8
403.0
1.7
4012
13
406.6
20
21
(1) Excludes unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 21).
L.118 Other Insurance Companies
Billions of dollars; levels, not seasonally adjusted
1
Total financial assets
2
3
Checkable deposits and currency
Security RPs
4
Credit market instruments
5333
5753
5973
6423
6763
692.1
707.1
723.0
7413
7592
772.7
1
63
31.0
5.3
26.9
5.6
32.6
52
31.7
5.0
29.4
5.0
31.4
4.9
333
4.9
353
4.9
373
4.8
39.6
4.8
41.6
2
3
344.0
376.6
389.4
422.7
446.4
451.9
457.3
463.0
468.7
4743
4802
4
5
6
7
U.S. government securities
Treasury
Agency
111.0
79.0
32.0
1462
104.0
42.1
151.4
108.7
42.6
169.0
1243
443
178.7
133.0
45.8
179.4
133.0
46.4
180.2
1332
47.0
180.9
133.4
473
181.6
133.4
48.2
182.3
133.6
48.7
183.0
133.7
49.4
5
6
7
8
9
10
Municipal securities
Corporate and foreign bonds
Commercial mortgages
136.9
892
6.9
126.8
97.2
63
134.3
97.8
5.9
146.1
103.1
43
153.8
110.1
3.8
155.4
1133
3.6
157.1
116.7
3.3
159.1
120.0
3.1
161.0
123.3
2.8
163.0
126.6
2.6
165.0
129.9
2.3
8
9
10
79.9
47.2
24.8
94.1
49.1
23.7
97.3
49.0
24.0
103.4
50.7
28.8
112.1
52.9
303
1183
54.0
312
125.0
55.1
31.3
1313
562
32.0
138.0
57.3
34.9
146.1
58.4
35.9
149.7
593
36.9
11
12
13
3973
417.1
440.0
457.7
4723
4852
4993
512.6
528.0
541.7
5543
14
0.6
396.9
0.6
416.4
1.0
439.1
12
4563
1.3
471.0
1.3
483.9
1.3
498.0
12
511.4
12
526.7
12
5403
12
553.7
15
16
11
12
13
14
15
16
Corporate equities
Trade receivables
Miscellaneous assets
Total liabilities
Taxes peyable
Miscellaneous liabilities
75
Z.1, September 12, 1996
L.119 Private Pension Funds (1)
Billions of dollars; levels, 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
6
Credit market instruments
1990
1991
1992
1993
1994
1610.9
18162
1984.4
21743
2263.7
23663
2457.7
2565.4
2628.0
26623
2742.0
1
3.3
98.9
17.8
27.2
3.0
99.5
18.8
32.7
3.0
77.0
20.3
34.8
2.9
69.1
26.7
41.4
2.8
623
31.2
51.6
2.7
60.4
32.2
513
2.7
59.7
31.0
50.3
2.7
54.4
32.4
51.1
2.7
513
32.5
51.3
2.6
56.2
34.3
54.3
2.6
54.4
34.6
56.8
2
3
4
5
495.1
530.6
571.7
617.6
664.6
679.3
693.6
706.2
725.9
742.3
763.4
6
---------------------- 1995 ---------------------Q2
Q4
Q3
Ql
-------- 1996 ------02
Ql
7
8
9
10
Open market paper
U.S. government securities
Treasury
Agency
27.2
2933
201.7
91.8
32.7
314.1
215.4
98.7
34.8
333.1
228.3
104.8
41.4
349.1
239.2
109.9
51.6
3623
248.7
113.8
513
369.3
253.3
116.0
50.3
376.3
257.7
1183
51.1
381.1
260.9
120.2
51.3
389.4
266.1
123.3
54.3
394.4
269.2
125.2
56.8
401.6
273.7
127.9
7
8
9
10
11
12
13
Municipal securities
Corporate and foreign bonds
Mortgages
0.6
149.2
24.7
0.6
164.7
18.4
0.6
188.4
14.8
0.6
211.1
15.3
0.7
233.4
16.4
0.7
241.1
16.7
0.7
249.5
16.9
0.7
256.3
17.0
0.7
267.0
17.4
0.7
274.9
18.0
0.8
285.8
18.4
11
12
13
14
15
Corporate equities
Mutual fund shares
5923
30.0
686.6
48.4
821.9
78.0
924.9
131.8
921.4
175.6
988.0
197.9
1044.1
225.9
1111.4
256.4
1149.4
267.9
1231.1
300.0
1258.3
327.0
14
15
16
17
18
19
Miscellaneous assets
Unallocated insurance contracts (2)
Contributions receivable
Other
346.0
189.4
13.6
143.0
396.9
210.0
17.3
169.6
377.8
195.8
19.3
162.6
359.9
189.2
22.4
148.3
354.0
1972
25.6
131.3
354.3
198.7
26.4
129.2
350.4
198.6
27.2
124.5
350.7
200.0
28.0
122.6
346.9
2003
28.8
117.6
241.9
199.4
29.6
13.0
244.9
201.9
30.4
12.6
16
17
18
19
20
Pension fimd reserves (liabilities) (3)
16403
18443
2009.0
2199.0
22894
23913
24823
25904
26523
2688.1
2767.7
20
(1) Includes the Federal Employees’ Retirement System Thrift Savings Plan.
(2) Assets of private pension {dans 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.
L.120 State and Local Government Employee Retirement Funds
Billions of dollars; levels, not seasonally adjusted
1
Total financial assets
820.4
8783
9973
1087.7
1145.7
12142
12773
1337.1
13863
1445.7
14983
1
4.7
7.4
11.8
4.8
73
16.1
5.6
5.6
19.0
6.3
82
192
5.7
52
26.6
5.2
5.0
27.9
4.4
4.6
30.4
4.4
3.9
26.9
3.6
40
25.2
3.4
40
24.7
3.0
3.3
28.2
2
3
4
422.1
394.5
4173
437.3
466.3
480.7
482.1
481.8
487.7
501.1
520.6
5
Open market paper
U.S. government securities
Treasury
Agency
11.8
224.6
142.4
82.3
16.1
232.9
156.1
76.8
19.0
233.7
160.6
73.1
19.2
2452
1763
68.7
26.6
261.1
184.8
76.3
27.9
270.1
189.1
81.0
30.4
270.0
186.4
83.7
26.9
276.1
192.2
83.9
252
285.6
192.7
92.9
24.7
294.8
198.0
96.8
27.2
304.4
1992
105.1
6
7
8
9
Municipal securities
Corporate and foreign bonds
Mortgages
0.4
169.3
16.1
0.2
128.4
16.9
03
147.8
163
0.7
157.7
143
0.4
163.0
15.2
0.4
166.9
15.4
0.3
165.8
15.6
0.3
162.6
15.7
03
160.4
15.9
0.4
165.1
16.1
0.7
172.1
16.3
10
11
12
296.1
78.3
386.6
69.3
448.9
100.8
506.7
110.2
507.4
134.5
562.4
132.9
611.3
145.0
668.3
151.8
705.7
160.5
760.9
151.7
789.0
1543
13
14
8204
8783
9973
1087.7
1145.7
12142
12773
1337.1
13863
1445.7
14983
15
2
3
4
Checkable deposits and currency
Time and savings deposits
Security RPs
5
Credit market instruments
6
7
8
9
10
11
12
13
14
15
Corporate equities
Miscellaneous assets
Pension ftind reserves (liabilities) (1)
(1) Equal to value of financial assets. These liabilities are assets of the household sector.
76
Zl, September 12, 1996
L.121 Money Market Mutual Funds (1)
Billions of dollars; levels, not seasonally adjusted
1990
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
Open market paper
U.S, government securities
Treasury
Agency
11
12
Municipal securities
Corporate and foreign bonds
13
14
1992
1993
1994
---------------------- 1995 ---------------------Q3
Q2
Q4
Ql
-------- 1996 ------Q2
Ql
4933
535.0
5393
5593
602.9
634.0
6783
702.7
7453
816.9
8093
1
26.7
113
21.9
58.2
21.4
-0.2
35.1
67.0
20.3
-2.7
34.6
65.9
10.0
-12
31.9
66.4
15.7
-23
31.4
68.8
14.9
-6.6
413
73.0
15.3
-2.1
42.7
80.9
21.1
-2.6
57.1
833
19.7
-33
52.3
87.8
212
-2.9
56.6
96.7
14.1
-2.7
54.6
98.2
2
3
4
5
371.3
403.9
408.6
429.0
459.0
480.6
508.0
505.7
5453
595.6
594.7
6
204.0
81.3
44.9
36.4
190.6
118.9
78.3
40.6
173.6
132.7
78.4
54.3
164.4
147.2
79.4
67.8
1872
143.3
66.1
77.2
204.9
141.4
66.4
75.0
224.7
145.7
573
882
219.2
144.4
62.9
813
2353
160.8
70.0
90.8
248.0
182.0
85.7
962
262.8
170.2
80.6
89.6
7
8
9
10
84.0
2.0
90.6
3.8
96.0
6.3
105.6
11.7
113.4
15.2
119.3
15.1
120.8
16.7
123.3
18.8
127.7
213
141.0
24.6
136.7
25.0
11
12
33.8
37.9
43.4
49.7
503
13
6783
702.7
7453
8163
8093
14
18523
19943
2112.0
1
4.0
7.7
12.7
23.7
30.6
303
4933
535.0
5393
5593
6023
634.0
Miscellaneous assets
Total shares outstanding
1991
(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; levels, not seasonally adjusted
1
Tatal financial assets
2
Security RPs
3
Credit market instruments
608.4
7693
9923
1375.4
14773
15533
1661.0
1782.0
44.1
42.6
43.1
50.2
45.9
43.3
2
792.4
8123
3
6.1
122
21.9
38.7
43.1
360.1
4402
566.4
725.9
718.8
719.3
724.8
7392
771.3
4
5
6
7
Open market paper
U.S. government securities
Treasury
Agency
283
159.7
111.1
48.6
12.2
200.6
1333
67.1
21.9
257.4
1693
87.9
38.7
306.6
200.9
105.7
43.1
2962
194.1
102.1
44.1
2963
194.3
102.3
42.6
296.7
194.4
102.3
43.1
302.9
198.1
104.9
502
315.1
205.3
109.9
45.9
328.9
213.4
1153
43.3
340.9
2203
120.4
4
5
6
7
8
9
Municipal securities
Corporate and foreign bonds
112.6
59.3
139.7
87.7
168.4
118.7
211.3
169.3
207.0
172.4
206.1
172.7
205.4
180.1
206.1
187.0
2102
195.7
212.1
2053
212.6
215.6
8
9
233.2
8.9
308.9
82
401.3
3.0
607.4
3.3
709.6
5.9
784.3
5.6
886.2
7.3
991.7
8.0
1024.9
6.3
1151.0
5.0
1250.6
5.6
10
11
606.4
7693
9923
13754
14773
15533
1661.0
1782.0
18523
19943
2112.0
12
10
11
12
Corporate equities
Miscellaneous assets
Total shares outstanding
(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 Funds
Billions of dollars; levels, not seasonally adjusted
1
2
3
4
5
6
7
Total financial assets
Credit market instruments
U.S. government securities
Municipal securities
Corporate and foreign bonds
Corporate equities
Total shares outstanding
52.9
713
913
1064
1063
1093
1123
1173
119.7
1224
1243
1
36.7
493
67.7
78.6
73.1
74.0
75.6
77.7
78.9
78.6
79.6
2
6.8
14.1
15.7
10.0
25.4
14.1
11.6
39.7
16.3
14.0
43.9
20.8
6.4
51.6
153
6.4
53.2
14.4
7.3
54.7
133
8.0
56.2
133
8.4
57.1
13.4
8.1
57.1
13.4
7.6
58.3
13.7
3
4
5
16.2
21.8
23.8
27.7
33.1
35.3
37.3
39.8
40.8
43.8
44.7
6
52.9
713
913
106.4
1063
1093
1123
1173
119.7
1224
1243
7
77
Z.1, September 12,1996
L.124 Government-Sponsored Enterprises (GSEs) (1)
Billions of dollars; levels, not seasonally adjusted
1990
1
Total financial assets
2
3
Checkable deposits and currency
Federal funds and security RPs
4
Credit market instruments
1991
1992
1993
1994
---------------------- 1995 ---------------------Q2
Q4
Ql
Q3
------- 1996 ------Q2
Ql
4745
4935
548.9
6272
7762
788.9
827.1
855.0
8903
9023
930.7
1
2.1
68.7
12
67.6
1.2
66.6
2.1
50.3
1.3
85.8
1.3
92.3
1.6
103.4
1.0
1075
1.5
106.3
1.0
104.0
0.7
104.7
2
3
373.9
389.0
457.8
548.0
667.1
671.9
695.9
708.4
756.0
765.2
799.5
4
3.8
462
34.3
11.9
3.7
0.0
10.9
75.5
40.8
34.7
3.0
0.0
13 J
105.7
58.7
47.0
3.2
0.0
11.9
116.9
51.6
65.3
2.6
11.1
26.3
180.3
51.9
128.4
3.4
195
25.3
189.9
56.6
133.3
2.8
21.7
22.1
2115
56.3
155.1
2.6
23.8
28.1
213.3
53.7
159.6
3.0
20.2
25.5
243.8
58.0
185.8
4.4
25.0
245
254.0
54.2
199.8
3.9
23.1
23.6
272.0
58.6
213.3
4.1
22.7
5
6
7
8
9
10
5
6
7
8
9
10
Open market paper
U.S. government securities
Treasury
Agency
Municipal securities
Corporate and foreign bonds
11
12
13
14
Other loans and advances
Sallie Mae
Farm Credit System
FHLB
164.1
27.1
19.9
117.1
131.8
30.1
22.7
79.1
1355
31.6
24.0
79.9
162.0
33.4
25.4
103.1
189.1
37.0
26.3
125.9
184.9
37.8
27.1
120.0
1875
39.3
27.7
1205
190.8
39.8
28.9
122.1
201.3
38.9
30.2
132.3
202.3
39.4
315
131.4
217.1
40.4
31.8
144.9
11
12
13
14
15
16
17
18
Mortgages
Home
Multifamily residential
Farm
156.1
115.3
13.2
27.6
167.9
126.2
14.6
27.1
199.9
156.7
162
27.0
243.6
198.9
17.9
26.8
248.4
202.8
18.7
26.9
247.4
202.0
19.0
26.4
2485
203.1
19.0
26.4
253.1
207.3
19.3
26.5
256.0
209.7
195
26.8
257.4
2105
19.7
272
260.1
212.8
19.7
27.6
15
16
17
18
29.8
35.9
23.3
26.7
22.0
23.4
26.3
38.1
27.2
32.2
25.8
19
469.1
486.0
538.7
6144
761.7
7734
8112
839.0
8744
8853
9135
20
3985
393.7
4.9
407.7
402.9
4.8
447.9
443.1
4.8
5285
523.7
4.8
700.6
700.6
0.0
716.3
716.3
0.0
748.1
748.1
0.0
7735
7735
0.0
807.5
8075
0.0
816.9
816.9
0.0
850.1
850.1
0.0
21
22
23
70.6
78.3
90.8
85.9
61.1
57.3
63.1
655
67.1
68.4
63.4
24
19
20
Miscellaneous assets
Total liabilities
21
22
23
Credit market instruments
GSE issues (2)
U.S. government loans
24
Miscellaneous liabilities
(1) Federal Home Loan Banks, Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Student Loan Marketing Association (Sallie Mae), Farm Credit System,
the Financing Corporation, and the Resolution Funding Corporation.
(2) Such issues are classified as U.S. government securities.
L.125 Federally Related Mortgage Pools (1)
Billions of dollars; levels, not seasonally adjusted
1
Total financial assets
10193
11565
1272.0
13554
1472.1
14793
1499.0
15264
15703
1599.7
1643.4
1
2
3
4
Home mortgages
Multifamily residential mortgages
Farm mortgages
991.1
28.7
0.0
1130.4
26.1
0.0
1248.2
23.8
0.0
13332
225
0.0
1449.7
22.4
0.0
1457.7
22.2
0.0
1475.1
23.9
0.0
1501.9
24.7
0.0
1543.4
26.9
0.0
1571.9
27.8
0.0
16145
28.9
0.0
2
3
4
5
Total pool securities (UabilitiesX2)
10193
11565
1272.0
13554
1472.1
14793
14994
15264
15703
1599.7
1643.4
5
(1) ONMA, FNMA, FHLMC, and Fanners Home Administration pools. Also includes federally related pools which are used as collateral for federally related agency-issued 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 U.S. government securities.
L.126 Issuers of Asset-Backed Securities (ABSs)
Billions of dollars; levels, not seasonally adjusted
1
Total financial assets
285.4
3395
4043
4874
556.1
570.0
5963
6402
688.9
7184
749.0
1
2
3
Agency securities (1)
Loans to business
123.8
5.8
104.1
8.8
82.7
11.6
98.3
21.6
100.8
25.9
98.7
27.0
97.7
29.4
104.4
305
102.3
32.7
104.7
33.4
109.1
36.0
2
3
4
5
6
7
8
9
Mortgages (2)
Home
Multifamily residential
Commercial
Consumer credit
Trade receivables
60.8
54.9
0.7
52
77.6
17.4
101.7
915
3.7
65
1035
215
162.2
140.7
6.3
152
1215
26.3
207.8
173.6
8.7
255
131.1
28.8
2462
1945
14.9
36.8
147.8
35.5
251.4
197.9
15.7
37.8
154.3
385
260.0
202.7
17.3
40.1
168.1
41.6
268.4
207.7
18.9
41.8
192.4
44.6
283.3
214.6
21.3
47.4
214.4
56.2
295.0
219.4
245
51.1
224.4
61.2
302.6
221.4
26.7
545
238.2
63.2
4
5
6
7
8
9
285.4
3395
4043
4874
556.1
570.0
5963
6402
6883
7184
749.0
10
31.4
254.0
38.7
300.8
47.4
356.9
51.9
435.7
63.9
492.2
69.4
500.6
74.9
521.9
80.3
559.9
101.2
587.7
110.2
608.4
114.8
634.2
11
12
10
11
12
Total liabilities
Commercial paper
Corporate bonds
(1) Federally related mortgage pool securities backing privately issued CMOs.
(2) Mortgages backing privately issued pool securities and privately issued CMOs.
78
Zl, September 12, 1996
L.127 Finance Companies (1)
Billions of dollars; levels, not seasonally adjusted
1990
1
Tatal financial assets
2
Checkable deposits and currency
3
4
5
6
Credit market instruments
Other loans and advances
Mortgages
Consumer credit
7
8
Miscellaneous assets
Tatal liabilities
9
10
11
12
Credit market instruments
Open market paper
Corporate bonds
Bank loans rte.c.
13
Taxes payable
14
15
16
17
Miscellaneous liabilities
Foreign direct investment in U.S.
Investment by parent
Other
1991
1992
1993
1994
---------------------- 1995 ---------------------Q3
Q2
Q4
Ql
-------- 1996 ------02
Ql
6115
6335
6383
653.7
734.4
763.1
785.0
7925
8255
8344
8475
1
9.4
10.6
11.9
12.3
12.7
12.8
12.9
13.0
13.1
13.2
13.3
2
498.1
293.7
66.3
1382
488.9
295.8
67.1
126.0
496.4
301.3
72.2
122.9
482.8
294.6
71.7
116 J
551.0
337.6
785
134.8
5685
351.9
80.8
135.8
586.9
361.8
83.4
141.7
594.7
362.4
86.1
146.2
615.2
375.9
86.6
152.6
621.7
380.9
89.1
151.7
632.6
383.7
93.1
155.9
3
4
5
6
104.0
134.3
130.6
158.6
170.7
181.8
1852
185.1
197.0
199.8
201.6
7
535.1
556.4
5714
5823
6584
683.4
7024
706.4
738.0
7435
753.9
8
3742
165.3
178.0
31.0
391.9
1595
190.2
42.3
390.4
156.4
196.3
37.6
390.5
159.2
206.0
25.3
440.7
184.6
235.0
212
456.7
181.3
254.4
21.0
4672
181.3
264.4
215
471.9
178.0
272.1
21.8
492.3
1845
284.7
23.1
499.8
184.8
291.4
235
511.0
183.0
301.8
262
9
10
11
12
0.6
0.4
0.6
0.8
1.0
1.1
1.1
12
1.2
1.3
1.3
13
160.3
4.6
37.7
118.1
164.0
5.6
355
122.9
180.8
7.6
39.5
133.7
191.0
295
42.7
118.7
216.9
32.6
51.0
133.3
225.7
32.4
525
140.8
234.3
31.1
575
145.7
235.3
41.0
59.0
135.2
2445
42.3
62.3
139.9
2425
475
62.3
132.7
241.6
48.4
61.0
132.2
14
15
16
17
492
603
605
604
375
335
41.4
432
34.1
464
42.7
1
41.9
2.8
45
53.1
2.7
45
52.7
3.0
4.8
522
3.1
5.1
29.3
3.1
5.1
25.6
3.2
5.1
33.0
3.2
5.1
34.6
35
5.1
24.8
4.2
5.1
375
4.2
5.1
33.0
4.6
5.1
2
3
4
492
603
605
60.4
375
335
41.4
432
34.1
464
42.7
5
24.6
24.6
22.2
382
302
30.3
302
30.2
18.7
20.6
19.1
15.0
21.6
252
6
20.8
21.6
21.6
25.6
18.7
16.9
17.0
17.1
7
(1) Includes retail captive finance companies.
L.128 Mortgage Companies
Billions of dollars; levels, not seasonally adjusted
1
2
3
4
5
6
7
Tatal financial assets
Home mortgages
Multifamily residential mortgages
Commercial mortgages
Tatal liabilities
Bank loans rte.c.
Investment by parent
L.129 Real Estate Investment Trusts (REITs)
Billions of dollars; levels, not seasonally adjusted
1
Tatal financial assets
132
14.0
135
174
22.1
23.0
24.1
255
26.4
274
285
1
2
3
4
Home mortgages
Commercial mortgages
Multifamily residential mortgages
0.4
5.0
2.3
0.4
45
2.2
0.9
1.9
5.3
0.9
2.1
5.6
15
32
8.7
15
3.3
9.0
1.6
3.4
9.3
1.6
35
9.6
1.7
3.6
9.9
1.7
3.7
10.2
1.8
3.8
105
2
3
4
5
Miscellaneous assets
55
7.0
5.8
8.8
8.7
92
9.9
10.6
11.3
12.0
12.7
5
134
165
195
24.7
46.1
475
495
524
54.0
56.1
582
6
6
Tatal liabilities
0.0
0.0
2.9
5.0
9.7
10.0
10.3
10.6
11.0
11.3
11.6
7
8
9
10
11
12
Credit market instruments
Open market paper
Corporate bonds
Bank loans rte.c.
Mortgages
12.4
0.9
2.8
4.4
4.3
13.6
0.9
3.0
5.0
4.8
13.9
0.9
4.0
3.7
5.4
17.4
0.6
4.3
3.6
8.9
31.1
0.0
6.3
6.0
18.7
32.4
0.0
6.8
55
20.0
33.7
0.0
7.4
5.0
21.3
35.0
0.0
7.9
45
22.6
365
0.0
85
4.0
24.0
38.0
0.0
9.0
35
25.4
39.6
0.0
9.7
3.1
26.9
8
9
10
11
12
13
Miscellaneous liabilities
1.2
2.9
2.4
2.3
5.3
55
5.9
6.3
65
6.8
7.0
13
7
Security RPs
79
Z.1, September 12, 1996
L.130 Security Brokers and Dealers
Billions of dollars; levels, not seasonally adjusted
1990
1991
1992
1993
1994
Ql
1
Total financial assets
2
Checkable deposits and currency
3
Credit market instruments
4
5
6
7
8
9
10
11
12
13
Open market paper
U.S. government securities
Treasury
Agency
Municipal securities
Corporate and foreign bonds
Corporate equities
Security credit
Miscellaneous assets
Total liabilities
-------- 1995 ----------- ---------Q4
Q3
Q2
-------- 1996 ------Ql
02
262.1
3325
381.7
4785
454.7
472.1
492.0
504.0
568.1
569.4
5625
1
10.2
10.2
10.4
12.3
12.0
14.1
13.3
14.8
13.8
12.9
14.5
2
106.5
124.0
122.7
1375
93.3
101.0
1375
137.0
183.4
156.2
1372
3
18.4
51.3
7.3
44.0
7.9
28.9
14.0
59.7
5.7
54.0
9.4
40.9
15.2
45.3
-7.7
53.0
11.3
50.9
14.9
325
-28.3
60.8
17.1
73.0
11.2
2.3
-42.7
45.0
155
64.4
16.8
15.6
-29.4
45.0
10.8
57.7
17.4
42.0
-0.0
42.0
11.7
66.4
22.1
38.8
-72
46.0
9.3
66.8
22.1
72.3
18.3
54.0
12.7
76.4
16.8
55.2
52
50.0
8.9
75.3
19.4
33.6
-14.8
48.4
8.8
75.3
4
5
6
7
8
9
9.6
38.8
97.0
14.3
55.1
129.0
14.8
535
180.4
24.2
76.1
228.6
20.1
75.1
254.2
22.0
69.4
265.6
23.9
68.7
248.7
26.8
77.4
248.0
34.2
78.6
258.1
28.2
89.1
283.0
31.7
89.8
289.6
10
11
12
2392
306.7
3523
4425
421.1
4365
456.6
4675
5305
5292
522.9
13
14
15
Security RPs (net)
Corporate bonds
81.0
15.3
106.7
19.0
106.4
21.7
126.4
33.7
103.4
34.3
133.1
26.9
141.0
26.8
147.7
27.4
182.4
29.3
1815
21.4
181.3
24.6
14
15
16
17
18
19
20
Trade payables
Security credit
Customer credit balances (HH)
From banks
Taxes payable
6.1
98.6
62.4
36.2
0.7
6.8
133.8
87.0
46.8
0.9
7.4
164.2
76.2
88.0
0.9
10.1
202.9
102.3
100.7
1.4
9.1
203.9
109.0
94.9
12
9.0
200.1
112.9
872
1.3
9.3
209.2
113.2
96.0
1.3
10.0
208.9
114.9
93.9
1.3
10.3
227.1
127.6
995
1.1
11.6
237.8
140.9
96.8
1.1
13.0
2262
134.3
91.9
1.2
16
17
18
19
20
21
22
23
24
Miscellaneous liabilities
Foreign direct investment in U.S.
Due to affiliates
Other
375
3.8
35.9
-2.1
41.5
5.8
25.0
10.7
522
5.3
53.7
-6.9
67.9
5.6
81.1
-18.8
69.2
6.1
104.7
-41.5
66.4
6.1
1162
-56.0
69.0
6.2
118.7
-55.9
72.2
6.2
123.4
-57.4
79.8
55
128.8
-54.5
75.9
5.6
134.0
-63.7
76.5
5.6
156.8
-85.9
21
22
23
24
272.0
3235
3243
380.9
407.4
4055
4175
4155
4693
5002
1
L.131 Funding Corporations (1)
Billions of dollars; levels, not seasonally adjusted
1
Tatal financial assets
254.7
2
Money market fund shares
36.6
52.4
75.9
86.0
117.8
121.4
1192
117.9
1202
128.3
130.9
2
3
4
5
Credit market instruments
136.6
136.6
0.0
144.8
144.8
0.0
1625
1625
0.0
133.6
129.6
4.0
129.2
115.2
14.0
140.3
126.3
14.0
137.4
121.4
16.0
143.1
123.1
20.0
140.9
1172
23.8
173.4
143.6
29.8
1912
147.2
44.0
3
4
5
6
7
8
Miscellaneous assets (2)
Investment in foreign banking offices
Investment in brokers and dealers
81.4
47.6
33.8
74.8
30.3
445
85.1
215
63.7
104.6
23.8
80.8
133.9
37.0
96.9
145.8
40.5
105.3
148.9
40.8
108.1
156.8
41.4
115.4
154.8
40.0
114.8
167.6
41.0
126.6
178.1
40.4
137.8
6
7
8
254.7
272.0
3235
3243
3805
4074
4055
4175
4155
4693
5002
9
9
Open market paper
Corporate and foreign bonds
Total liabilities
10
11
12
Credit market instruments
Open market paper
Corporate bonds
145.7
137.9
7.7
139.1
124.5
14.7
161.6
1352
26.4
169.9
129.9
40.0
199.3
139.3
60.0
221.1
147.9
732
230.0
151.3
78.7
239.9
157.1
82.8
233.9
1495
84.4
245.6
143.4
1022
2695
164.0
105.6
10
11
12
13
14
15
16
Miscellaneous liabilities
Foreign direct investment in U.S.
Securities loaned (net)
Other
109.0
-64.2
71.4
101.8
132.8
-64.3
102.9
94.3
162.0
-76.4
1535
84.9
154.4
-65.2
197.1
225
1815
-65.4
221.7
25.3
186.4
-753
233.4
28.2
175.5
-81.1
2146
42.0
177.9
-83.1
211.7
49.3
182.0
-79.1
2162
44.9
223.7
-78.0
242.6
59.1
230.7
-91.4
250.1
72.0
13
14
15
16
(1) Funding subsidiaries, nonbank financial holding companies, and custodial accounts for reinvested collateral of securities lending operations.
(2) Due from affiliated companies.
80
Z.1, September 12, 1996
L.200 Gold and Official Foreign Exchange Holdings (1)
Billions of dollars; levels, not seasonally adjusted
1990
1
2
3
4
5
6
7
8
9
10
11
Tetal U.S. reserves
U.S. gold stock and SDRs
Federal govt: Exchange Stab. Fund
Monetary authority (2)
U.S. foreign exchange position
1991
1992
1993
1994
---------------------- 1995 ---------------------Q4
Q2
Q3
Ql
-------- 1996 ------02
Ql
833
77.7
713
73.4
743
86.8
90.1
872
853
842
833
1
22.0
22.3
19.6
20.1
21.1
22.7
22.9
22.1
22.1
22.1
222
2
11.0
11.1
11.2
11.1
8.5
11.1
9.0
11.1
10.0
11.1
11.7
11.1
11.9
11.1
11.0
11.1
11.0
11.1
11.0
11.1
11.1
11.1
3
4
61.3
55.4
51.8
53.4
53.2
64.1
67.1
65.1
63.7
62.1
61.4
5
46.9
26.9
20.0
46.1
263
19.6
6
7
8
152
15.3
-0.1
15.3
15.4
-0.1
9
10
11
Official foreign currency holdings
Treasury
Monetary authority
522
19.6
32.6
45.9
18.3
27.6
40.0
183
213
413
19.2
22.3
412
19.2
22.0
50.6
25.4
25.3
52.9
28.9
24.0
50.4
28.7
21.7
49.1
28.0
21.1
Net IMF position
Federal government
Monetary authority
9.1
9.1
-0.1
93
9.6
-0.1
11.8
11.9
-0.1
11.8
11.9
-0.1
12.0
12.1
-0.1
13.4
133
-0.1
14.3
14.4
-0.1
14.7
14.8
-0.1
14.6
14.7
-0.1
(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; levels, not seasonally adjusted
SDR ctrtificaies:
2
Liab: Federal government
Asset: Monetary authority
10.0
10.0
10.0
10.0
8.0
8.0
8.0
8.0
8.0
8.0
8.0
8.0
8.0
8.0
10.2
102
10.2
102
10.2
10.2
10.2
102
1
2
Treasury currency:
3
4
Liab: Federal government
Asset Monetary authority
16.3
20.4
16.3
21.0
163
213
17.0
22.1
17.6
23.0
17.8
23.2
18.0
233
18.2
23.8
18.2
24.0
182
24.3
182
243
3
4
5
Discrepancy (seigniorage)
-4.1
-4.7
-4.9
-5.1
-5.4
-5.4
-53
-5.6
-5.8
-6.1
-6.3
5
297.9
2733
267.7
2713
3243
3333
361.0
3533
361.4
382.7
3843
1
13.4
13.2
26.7
14.6
15.0
21.4
15.6
14.3
20.3
16.4
12.9
10.0
172
13.1
15.7
17.7
11.6
14.9
19.1
12.0
15.3
18.8
132
21.1
192
13.4
19.7
203
163
212
20.7
143
14.1
2
3
4
244.6
222.6
217.6
232.6
278.7
289.1
3143
300.6
309.2
324.4
335.6
5
L.202 U.S. Deposits in Foreign Countries
Billions of dollars; levels, not seasonally adjusted
1
Tatal rest af the warld liability
Held by:
2
3
4
5
Household sector
Nonfinancial corporate business
Money market mutual funds
Discrepancy-unallocated assets
81
Z.1, September 12, 1996
L.203 Net Interbank Transactions
Billions of dollars; levels, not seasonally adjusted
1990
1991
1992
1993
1994
---------------------- 1995 ---------------------Q4
Q3
Q2
Ql
------- 1996 ------02
Ql
94.9
964
1385
1895
280.0
2723
265.9
2673
2903
266.1
2413
1
2
3
4
Monetary authority
Depository institution reserves
Vault cash
712
38.7
32.6
63.0
29.4
33.6
63.9
32.1
31.9
67.6
35.0
32.7
68.9
30.8
38.1
61.3
30.0
31.3
585
24.9
33.6
565
23.4
33.1
702
29.6
40.6
59.1
24.7
34.4
60.3
24.6
35.7
2
3
4
5
6
Commercial banking
To monetary authority
23.7
2.4
33.4
0.9
745
3.9
121.7
1.0
211.1
-05
2115
0.1
207.4
05
210.8
05
220.6
02
207.0
0.1
1815
0.4
5
6
1
Total liabilities
53.3
36.6
79.9
125.4
218.1
214.1
209.8
2102
229.4
209.5
189.0
7
8
9
10
11
Liabilities, net
U.S.-chartered commercial banks
Due to foreign affiliates
- Due from foreign affiliates
61.5
21.0
67.1
46.1
47.6
15.3
745
592
89.2
-115
842
95.6
135.4
7.9
90.8
82.9
228.9
822
1435
61.3
225.3
85,1
1485
635
219.9
79.4
143.6
642
223.1
81.0
1315
50.4
239.8
79.7
128.9
49.2
222.8
68.7
113.8
45.1
201.3
59.0
111.8
52.8
8
9
10
11
12
13
14
Foreign banking offices in U.S.
Due to foreign affiliates
- Due from foreign affiliates
48.4
69.6
21.3
42.7
75.1
32.4
105.1
84.6
-205
134.3
83.0
-51.3
161.4
84.3
-77.0
1562
88.3
-67.9
157.3
955
-61.9
161.3
95.7
-65.6
178.6
99.9
-78.7
173.7
95.7
-78.0
158.9
96.1
-62.8
12
13
14
15
16
17
Bank holding companies
Due to foreign affiliates
- Due from foreign affiliates
-7.9
8.6
165
-10.3
7.9
18.1
-45
8.9
13.4
-6.8
6.6
13.3
-14.6
4.1
18.7
-16.0
3.9
19.9
-16.8
2.7
195
-192
3.9
23.0
-185
3.0
21.4
-19.6
25
22.0
-16.6
3.0
195
15
16
17
8.2
65
1.7
11.0
9.4
1.6
9.3
7.7
1.6
10.0
8.4
1.6
10.8
8.0
2.9
11.2
8.0
32
10.1
6.8
3.3
12.9
8.4
45
10.4
5.4
5.0
13.3
7.4
5.8
12.3
8.2
4.1
18
19
20
-32.0
-42
-9.3
-4.7
-65
-2.7
-2.9
0.1
-9.0
-2.6
-8.0
21
-69.0
39.3
66.7
4.6
-32.0
-47.9
49.4
512
2.4
-42
-33.6
385
46.4
1.4
-9.3
-19.9
44.8
482
1.3
-4.7
-13.3
50.7
56.3
0.9
-65
-24.7
41.9
43.7
1.0
-2.7
-28.3
42.6
44.6
0.9
-2.9
-18.2
50.9
49.9
0.9
0.1
-20.0
43.3
515
0.8
-9.0
-39.9
40.3
42.1
0.8
-2.6
-385
38.1
45.4
0.8
-8.0
22
23
24
25
26
107.1
1.2
99.0
-1.7
77.2
-5.1
66.7
-1.9
60.2
3.8
62.8
3.8
67.4
3.4
66.4
2.7
58.9
4.4
64.7
155
62.8
13.8
27
28
40.3
107.1
66.7
47.8
99.0
512
30.8
772
46.4
185
66.7
482
3.9
60.2
56.3
19.1
62.8
43.7
22.9
67.4
44.6
165
66.4
49.9
75
58.9
515
22.6
64.7
42.1
175
62.8
45.4
29
30
31
-3.4
12
4.6
-4.1
-1.7
2.4
-65
-5.1
1.4
-3.3
-1.9
1.3
2.9
3.8
0.9
2.9
3.8
1.0
25
3.4
0.9
1.8
2.7
0.9
35
4.4
0.8
14.6
155
0.8
13.0
13.8
0.8
32
33
34
127.0
1004
147.7
194.1
2865
2755
2683
2672
2993
268.7
2493
35
7
18
19
20
21
22
23
24
25
26
27
28
To banks in foreign countries, net
Less: Deposits at foreign banks
U.S. chartered commercial benks
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
32
33
34
Bank holding companies
Due to U.S. banks
- Due from U.S. benks
35
Total assets
36
Rest of the worid
53.3
36.6
79.9
125.4
218.1
214.1
209.8
210.2
229.4
2095
189.0
36
37
Domestic
73.7
64.0
67.9
68.6
68.4
61.4
59.1
57.0
70.4
59.2
60.7
37
2.4
22
0.2
0.9
0.7
0.2
3.9
3.3
0.7
1.0
0.9
0.1
-05
-0.7
02
0.1
0.1
0.1
05
0.3
0.2
05
0.1
0.4
02
0.1
0.1
0.1
0.0
0.0
0.4
-0.2
0.6
38
39
40
67.9
35.3
32.6
60.1
265
33.6
60.9
29.0
31.9
642
315
32.7
66.1
28.0
38.1
58.8
275
31.3
55.9
22.3
33.6
53.9
20.8
33.1
675
26.9
40.6
56.4
22.0
34.4
57.8
22.1
35.7
41
42
43
3.4
2.9
3.1
3.4
2.8
25
2.6
2.6
2.7
2.7
2.5
44
-32.0
-4.2
-9.3
-4.7
-65
-2.7
-2.9
0.1
-9.0
-2.6
-8.0
45
38
39
40
Monetary authority
Federal Reserve float
Loans to member benks
41
42
43
Commercial banking
Reserves at Federal Reserve
Vault cash
44
Savings insts.: Reserves at Fed. Res.
45
Discrepancy—floats, etc.
82
Zl, September 12, 1996
L.204 Checkable Deposits and Currency
Billions of dollars; levels, not seasonally adjusted
1990
1991
1992
1993
1994
---------------------- 1995 ---------------------Q4
Q2
Q3
Ql
-------- 1996 ------Q2
Ql
9345
1020.9
1134.4
1251.7
1242.0
1193.7
12462
12003
12293
11835
1211.9
1
2
3
4
5
Monetary authority
Federal government cash and deposits
Deposits due to foreign
Currency outside banks
264.3
95
0.4
254.4
2935
18.3
1.0
274.2
311.1
8.0
0.2
302.8
3482
15.2
0.4
332.6
373.5
75
0.3
365.7
375.7
4.9
0.4
370.3
398.4
21.3
02
376.9
3855
8.9
0.3
376.2
3905
62
05
383.7
389.6
7.3
0.4
381.9
397.5
8.0
0.4
389.1
2
3
4
5
6
7
8
9
Commercial banking
Federal government deposits
Deposits due to foreign
Private domestic deposits
584.0
30.9
21.4
531.6
621.6
36.4
19.4
565.7
714.3
30.6
21.7
662.1
788.4
42.6
21.3
7245
756.7
23.8
23.2
709.8
706.8
15.6
22.6
668.6
7315
39.7
22.1
669.7
694.0
30.3
235
640.2
710.8
19.0
24.0
667.8
659.3
16.8
23.1
619.4
673.4
31.4
27.2
614.8
6
7
8
9
68.0
18.3
85.3
205
84.0
25.1
88.3
26.8
83.0
28.8
8L8
29.4
86.1
30.2
90.3
305
97.1
30.9
103.4
31.3
109.0
32.0
10
11
9345
1020.9
11345
1251.7
1242.0
1193.7
12462
12003
12293
11835
1211.9
12
1
10
11
12
Total liabilities
Savings institutions
Credit unions
Total assets
13
Household sector
4945
550.9
661.3
7335
743.6
735.0
7275
7002
713.9
684.0
6855
13
14
15
16
17
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
251.4
166.8
73.7
10.9
268.9
182.5
74.6
11.8
282.6
189.4
79.6
13.6
300.8
203.1
82.4
15.3
309.7
207.4
85.3
17.0
2915
188.0
86.2
17.4
301.4
1965
87.1
17.8
312.3
206.0
88.1
18.2
330.2
2225
89.1
18.6
327.2
218.2
90.0
19.0
330.6
2202
91.0
19.4
14
15
16
17
18
19
20
State and local governments
Federal government
Rest of the worid
18.9
25.4
21.8
24.1
50.9
20.4
27.1
31.7
21.9
285
522
21.6
31.1
27.8
235
28.7
16.3
23.0
32.2
59.0
22.3
31.1
38.7
23.8
34.0
22.2
245
30.1
24.2
23.4
31.9
42.8
27.6
18
19
20
21
Financial sectors
71.6
61.4
60.9
68.7
65.0
61.6
66.1
66.4
67.3
65.1
65.1
21
25
11.0
4.8
1.0
1.8
12.9
5.4
1.0
1.3
12.4
6.6
0.9
1.0
15.4
65
0.8
1.4
13.9
65
05
1.2
12.3
7.2
05
15
13.3
7.1
05
12
13.4
7.1
05
1.6
155
7.4
05
1.4
13.7
8.0
0.6
15
13.1
75
0.6
22
23
24
25
4.9
65
3.3
4.7
55
5.3
3.0
4.8
4.8
5.6
3.0
5.6
52
5.2
2.9
6.3
5.7
5.0
2.8
5.7
6.0
5.0
2.7
52
6.1
4.9
2.7
4.4
6.1
4.9
2.7
4.4
6.4
4.9
2.7
3.6
6.3
4.8
2.6
3.4
6.4
4.8
2.6
3.0
26
27
28
29
112
2.1
9.4
10.2
-0.2
12
10.6
102
-2.7
12
11.9
10.4
-12
2.1
12.3
12.3
-25
1.3
12.7
12.0
-6.6
1.3
12.8
14.1
-2.1
1.6
12.9
13.3
-2.6
1.0
13.0
14.8
-35
15
13.1
13.8
-2.9
1.0
132
12.9
-2.7
0.7
13.3
145
30
31
32
33
50.9
44.3
48.8
46.4
41.4
375
37.7
27.9
37.2
295
28.4
34
22
23
24
25
Commercial hanking
Savings institutions
Credit unions
Bank personal trusts and estates
26
27
28
29
life insurance compenies
Other insurance companies
Private pension funds
State and local govt retirement funds
30
31
32
33
Money market mutual funds
Government-sponsored enterprises
Finance companies
Brokers and dealers
34
Mail float
83
Z.1, September 12,1996
L.205 Time and Savings Deposits
Billions of dollars; levels, not seasonally adjusted
1
2
Total liabilities
Small time and savings deposits
---------------------- 1995 ---------------------Q4
Q2
Ql
Q3
-------- 1996 ------Ql
Q2
1990
1991
1992
1993
1994
2896.1
2839.1
2708.7
26145
25945
2641.4
2678.9
27335
2756.6
2827.0
28415
1
2349.2
2350.7
22935
2223.2
2183.3
2200.2
2222.6
2255.8
2279.7
2336.4
2332.9
2
1307.6
12875
11.0
9.1
1386.5
13675
11.0
8.1
1389.3
1369.6
11.2
85
1377.4
1358.7
10.4
8.2
1376.3
1358.0
9.3
9.0
1390.0
1372.0
8.7
92
1422.0
1403.4
92
9.5
1455.9
1437.4
8.9
9.7
1490.1
1471.3
85
10.2
1548.6
1529.9
8.3
105
1557.7
1539.3
7.7
10.8
3
4
5
6
7
8
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
8625
179.1
767.6
1965
692.2
212.0
624.0
221.8
579.6
227.3
583.4
226.8
575.8
224.7
567.1
232.8
550.7
238.9
534.7
253.1
519.1
256.1
9
Large time deposits (1)
546.9
488.4
415.2
391.7
411.2
4412
456.3
4775
476.9
490.6
508.6
9
10
11
12
13
Commercial banking
U.S.-chartered commercial banks
Foreign banking offices in U.S.
Banks in U.S.-affiliated areas
423.6
365.4
49.2
9.1
399.6
292.3
99.3
8.1
332.8
216.1
108.2
85
311.7
196.1
107.4
8.2
333.0
214.0
110.0
9.0
354.1
232.7
112.2
9.2
360.8
2375
113.9
95
385.7
247.0
129.0
9.7
387.8
2565
121.0
10.2
402.4
266.6
125.4
10.4
420.1
279.2
1302
10.8
10
11
12
13
14
15
Savings institutions
Credit unions
119.9
3.4
84.6
42
76.7
5.8
73.0
6.9
71.0
7.3
74.1
13.0
762
19.3
78.6
132
80.1
9.0
805
7.7
80.6
7.8
14
15
2896.1
2839.1
2708.7
2614.9
25945
26414
26785
27335
27564
2827.0
28415
16
2477.8
2423.7
2349.4
22412
2234.1
2279.9
2316.0
2358.9
2384.6
2438.1
2454.4
17
124.4
73.4
51.1
117.7
66.8
50.9
1005
51.8
48.7
124.0
74.1
49.9
122.8
71.6
51.3
1125
60.8
51.7
119.4
67.3
52.1
121.2
68.6
52.6
122.8
69.7
53.1
120.4
66.8
53.6
122.0
68.0
54.0
18
19
20
67.9
1.4
49.2
57.8
1.6
49.0
51.6
0.9
47.9
46.8
0.8
54.7
52.6
0.7
56.3
57.8
1.1
54.9
55.9
1.1
51.3
58.8
1.1
49.4
62.4
0.9
49.8
67.6
1.0
525
67.8
4.3
50.9
21
22
23
175.4
189.4
158.4
147.3
128.0
135.2
135.1
144.0
136.0
147.5
142.0
24
16
Total assets
17
Household sector
18
19
20
Nonfinancial business
Corporate
Nonfarm noncorporate
21
22
23
State and local governments
Federal government
Rest of the world
24
Financial sectors
25
26
27
Savings institutions
Credit unions
Bank personal trusts and estates
52
21.7
20.3
5.0
26.7
15.7
3.7
27.0
10.5
3.0
25.6
9.4
1.3
16.7
11.0
1.1
16.3
10.9
1.0
16.4
10.7
1.1
172
10.3
1.1
17.1
10.0
1.0
19.9
9.8
0.9
19.3
95
25
26
27
28
29
30
Private pension funds
State and local govt retirement funds
Money market mutual funds
98.9
7.4
21.9
995
75
35.1
77.0
5.6
34.6
69.1
82
31.9
625
52
31.4
60.4
5.0
415
59.7
4.6
42.7
54.4
3.9
57.1
51.5
4.0
52.3
56.2
4.0
56.6
54.4
3.3
54.6
28
29
30
4935
535.0
5395
5594
6025
634.0
6785
702.7
7455
8165
8095
1
(1) Large time deposits are those issued in amounts of $100,000 or more.
L.206 Money Market Mutual Fund Shares
Billions of dollars; levels, not seasonally adjusted
1
Tatal assets
2
3
4
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
364.9
26.3
3.6
374.1
315
3.6
332.8
47.3
3.6
338.6
44.8
3.8
352.2
52.2
3.9
375.3
53.9
4.0
403.8
68.6
4.0
421.9
73.0
4.0
4475
83.0
4.1
498.2
91.1
4.1
480.1
94.5
4.2
2
3
4
5
6
7
8
Bank personal trusts and estates
Life insurance companies
Private pension funds
Funding corporations
26.0
18.1
17.8
36.6
29.6
25.0
18.8
52.4
292
30.3
20.3
75.9
29.3
305
26.7
86.0
29.9
15.8
312
117.8
30.3
17.0
32.2
121.4
30.9
21.0
31.0
1192
315
22.0
32.4
117.9
32.0
26.0
325
1202
325
28.4
34.3
128.3
33.0
32.1
34.6
130.9
5
6
7
8
84
Zl, September 12, 1996
L.207 Federal Funds and Security Repurchase Agreements
Billions of dollars; levels, not seasonally adjusted
1990
1991
1992
1993
1994
Ql
Total UabUities
2
3
4
5
Commercial banking (net)
U.S.-chartered commercial banks
Foreign banking offices in U.S.
Bank holding companies
6
7
8
Savings institutions
REITs
Brokers and dealers (net)
9
Total assets
-------- 1995 ----------Q3
Q2
1996
Q4
Ql
Q2
3725
355.8
399.9
471.1
549.4
603.4
6293
6555
660.1
665.0
6793
1
248.8
219.7
29.6
-0.4
229.6
192.6
38.4
-1.4
272.0
234.2
39.0
-1.2
3135
279.6
34.7
-0.8
391.7
351.3
41.4
-0.9
415.7
380.7
35.5
-0.6
426.9
382.0
43.8
1.1
440.6
402.2
38.8
-0.4
422.2
379.6
433
-05
428.3
387.2
415
-0.4
450.1
397.1
53.4
-0.4
2
3
4
5
425
0.0
81.0
19.6
0.0
106.7
18.6
2.9
106.4
26.1
5.0
126.4
445
9.7
103.4
44.6
10.0
133.1
51.1
10.3
141.0
565
10.6
147.7
445
11.0
182.4
43.9
11.3
1815
36.2
11.6
181.3
6
7
8
3245
317.4
3565
3938
4404
473.1
5194
5255
5485
561.7
5765
9
2.1
44.9
19.7
1.6
28.3
20.9
5.1
33.3
41.7
25
50.0
61.4
2.2
62.0
47.9
3.7
66.1
58.4
8.9
69.8
64.7
3.7
80.9
68.8
2.4
87.7
69.1
2.3
91.6
76.2
2.8
95.1
80.9
10
11
12
276.8
279.9
328.6
344.9
376.1
372.2
389.7
391.6
397.7
13
6.7
8.8
93
16.8
9.9
8.5
65
10.1
7.9
13.9
11.2
6.4
4.9
113
10.4
7.1
105
7.1
14
15
16
10
11
12
Nonfinancial corporate business
State and local governments
Rest of the world
13
Financial sectors
257.6
266.6
14
15
16
Monetary authority
Sevings institutions
Credit unions
18.4
21.6
14.6
15.9
15.1
132
8.1
14.4
135
133
10.6
85
10.6
65
63
17
Other insurance companies
Private pension funds
State and local govt retirement funds
31.0
27.2
11.8
26.9
32.7
16.1
32.6
34.8
19.0
31.7
29.4
31.4
335
355
51.6
26.6
515
27.9
50.3
30.4
51.1
26.9
39.6
54.3
24.7
17
41.4
193
375
51.3
253
41.6
18
19
56.8
28.2
18
19
20
21
22
Money market mutual funds
Mutual funds
Government-sponsored enterprises
582
6.1
68.7
67.0
12.2
67.6
65.9
21.9
66.6
66.4
38.7
50.3
68.8
43.1
85.8
73.0
44.1
92.3
80.9
42.6
103.4
835
43.1
1075
87.8
50.2
106.3
96.7
45.9
104.0
98.2
43.3
104.7
20
21
22
48.0
38.4
43.0
77.3
108.8
130.4
109.8
129.9
111.3
103.3
102.7
23
6095
5655
579.0
580.0
6235
654.7
6735
692.7
7004
7174
7534
1
557.8
528.1
545.1
553.8
600.1
6303
649.3
668.6
677.7
694.7
731.3
2
Nonfinancial corporate business
Foreign issues in U.S.
116.9
75.3
985
81.8
107.1
77.7
117.8
68.7
1393
41.4
149.8
50.9
162.9
48.1
163.3
55.8
157.4
55.0
1742
515
181.7
53.4
3
4
Financial business
Commercial banking
ABS issuers
Finance companies
REITs
Funding corporations
365.6
30.1
31.4
165.3
0.9
137.9
347.9
24.3
38.7
1595
0.9
124.5
360.4
20.4
47.4
156.4
0.9
135.2
3673
25.6
51.9
1593
0.6
129.9
419.4
31.6
63.9
184.6
0.0
139.3
429.6
31.0
69.4
181.3
0.0
147.9
438.3
30.8
74.9
181.3
0.0
151.3
4495
34.1
80.3
178.0
0.0
157.1
465.4
30.1
101.2
1845
0.0
1495
469.0
30.6
1102
184.8
0.0
143.4
4962
34.4
114.8
183.0
0.0
164.0
5
6
7
8
9
10
23
Discrepancy-unallocated assets
L.208 Open Market Paper
Billions of dollars; levels, not seasonally adjusted
1
2
3
4
5
6
7
8
9
10
11
12
Total outstanding, all types
Commercial paper
Bankers acceptances (1)
Holdings, by sector
52.1
37.8
33.9
26.3
23.4
245
24.5
24.1
22.6
22.9
222
11
6095
5655
579.0
580.0
6235
654.7
6735
692.7
7004
7174
7534
12
13
14
15
Household sector
Nonfinancial corporate business
Rest of the world
63.2
13.8
10.7
33.3
14.7
11.3
29.9
17.0
12.9
455
19.4
18.8
35.0
18.6
24.8
26.0
18.0
28.8
295
17.1
33.1
38.0
17.6
37.6
35.3
19.6
435
27.9
16.8
31.0
30.4
18.0
42.4
13
14
15
16
17
18
19
20
Monetary authority
Commercial banking (1)
Savings institutions
Credit unions
Bank personal trusts and estates
0.0
12.7
0.7
2.3
305
0.0
10.6
1.3
2.6
25.2
0.0
93
0.6
3.0
22.8
0.0
7.3
0.3
23
195
0.0
5.8
0.1
2.1
23.0
0.0
45
0.1
1.7
23.3
0.0
5.7
0.3
1.3
23.4
0.0
5.4
02
0.7
23.3
0.0
5.7
0.2
0.6
23.3
0.0
6.1
0.2
0.3
23.3
0.0
4.9
0.2
0.3
23.4
16
17
18
19
20
21
22
23
Life insurance companies
Private pension funds
State and local govt retirement funds
45.7
273
11.8
45.8
32.7
16.1
43.2
34.8
19.0
46.9
41.4
193
52.7
51.6
26.6
555
515
27.9
54.7
50.3
30.4
56.2
51.1
26.9
455
51.3
25.2
54.2
54.3
24.7
53.8
56.8
272
21
22
23
24
25
26
27
28
Money market mutual funds
Mutual funds
Government-sponsored enterprises
Brokers and dealers
Funding corporations
204.0
28.5
3.8
18.4
136.6
190.6
12.2
10.9
14.0
144.8
173.6
21.9
135
15.2
1625
164.4
38.7
11.9
14.9
129.6
1873
43.1
26.3
113
115.2
204.9
44.1
25.3
16.8
126.3
224.7
42.6
22.1
17.4
121.4
219.2
43.1
28.1
22.1
123.1
2355
50.2
255
22.1
1172
248.0
45.9
245
16.8
143.6
262.8
43.3
23.6
19.4
147.2
24
25
26
27
28
(1) Excludes banks’ holdings of own acceptances.
85
Z.1, September 12,1996
L.209 Treasury Securities
Billions of dollars; levels, not seasonally adjusted
1990
1991
1992
1993
1994
Ql
1
Total liabilities
24655
27573
30615
3309.9
--------- 1995 ----------Q2
Q3
Q4
-------- 1996 ------Q2
Ql
34655
35315
3556.7
35765
36065
36895
36655
1
182.6
3374.1
1835
3392.9
185.0
34235
185.8
3503.7
1865
3479.1
2
3
126.2
2339.6
138.1
2619.7
157.3
2904.3
171.9
3138.0
179.9
3285.6
181.4
3350.1
24655
27573
30615
33095
34655
35315
3556.7
35765
36065
3689.6
36655
4
Household sector
Savings bonds
Other Treasury issues
397.7
126.2
2715
382.0
138.1
243.9
456.6
157.3
299.4
479.8
171.9
307.9
726.0
179.9
546.0
748.4
181.4
567.1
7175
182.6
534.9
741.0
1835
5575
710.2
185.0
5252
727.9
185.8
542.1
6995
1865
513.0
5
6
7
8
9
10
Nonfarm noncorporate business
Nonfinancial corporate business
State and local governments
125
37.6
400.2
12.2
423.1
13.0
60.6
402.8
13.6
48.8
429.4
14.2
735
298.6
14.3
56.4
2755
145
625
251.0
14.7
54.0
203.6
14.9
672
1655
15.0
685
1412
15.2
67.0
1242
8
9
10
11
12
Rest of the world
Monetary authority
450.3
235.1
496.6
2665
548.1
295.0
625.1
332.0
660.0
3645
700.1
363.7
755.7
372.6
8135
367.7
8605
378.2
927.9
377.1
9562
383.9
ll
12
13
14
15
16
17
Commercial hanking
U.S.-chartered commercial banks
Foreign banking offices in U.S.
Bank holding companies
Banks in U.S.-affiliated areas
172.1
157.4
11.4
0.7
25
2325
207.8
20.8
1.0
2.8
294.4
254.3
29.6
6.1
4.3
3222
275.0
36.1
5.3
5.8
290.4
248.0
32.7
4.6
5.1
308.1
2455
532
3.9
5.4
298.4
226.9
60.0
5.6
5.9
289.4
221.5
58.9
3.0
5.9
278.7
207.6
62.3
3.4
5.4
284.0
208.4
67.8
2.8
5.1
280.4
200.1
72.3
2.8
5.3
13
14
15
16
17
18
19
20
Savings institutions
Credit unions
Bank personal trusts and estates
25.9
85
392
25.0
14.1
40.9
34.0
19.9
40.1
28.2
22.6
40.4
27.1
22.1
39.8
23.7
21.2
392
21.4
20.2
38.3
215
19.9
37.4
18.4
18.3
365
18.6
20.6
35.6
18.2
21.0
34.8
18
19
20
21
22
23
24
Life insurance companies
Other insurance companies
Private pension funds
State and local govt retirement funds
592
79.0
201.7
142.4
77.8
104.0
215.4
156.1
88.8
108.7
228.3
160.6
110.0
1245
2392
1765
107.1
133.0
248.7
184.8
1112
133.0
253.3
189.1
111.8
1332
257.7
186.4
111.8
133.4
260.9
1922
108.1
133.4
266.1
192.7
105.8
133.6
269.2
198.0
106.0
133.7
273.7
199.2
21
22
23
24
25
26
27
28
29
Money market mutual funds
Mutual funds
Closed-end funds
Government-sponsored enterprises
Brokers and dealers
44.9
111.1
6.8
34.3
7.3
78.3
1335
10.0
40.8
5.7
78.4
1695
11.6
58.7
-7.7
79.4
200.9
14.0
51.6
-28.3
66.1
194.1
6.4
51.9
-42.7
66.4
194.3
6.4
56.6
-29.4
575
194.4
7.3
56.3
-0.0
62.9
198.1
8.0
53.7
-72
70.0
205.3
8.4
58.0
18.3
85.7
213.4
8.1
542
52
80.6
2205
7.6
58.6
-14.8
25
26
27
28
29
2498.1
2776.4
3080.3
33365
3492.3
3557.9
35835
3603.4
3636.7
37172
3693.8
30
2
3
4
5
6
7
Savings bonds
Other Treasury issues
Total assets
43.4
Memo:
30
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).
86
Z.1, September 12, 1996
L.210 Agency Securities (1)
Billions of dollars; levels, not seasonally adjusted
1990
1991
1992
1993
1994
---------------------- 1995 ---------------------Ql
1
2
3
4
5
6
7
8
Total liabilities
Budget agencies
Government-sponsored enterprises
Federally related mortgage pools
Total assets
Household sector
Nonfinancial corporate business
State and local governments
Q2
Q3
Q4
-------- 1996 ------02
Ql
1445.9
1577.9
1734.0
1905.9
21995
2222.6
2274.0
2327.1
2406.1
24442
2521.7
1
32.4
393.7
1019.9
18.6
402.9
11565
18.8
443.1
1272.0
26.6
523.7
1355.6
26.7
700.6
1472.1
26.4
716.3
1479.9
26.8
748.1
1499.0
26.9
7735
1526.6
28.2
8075
1570.3
27.6
816.9
1599.7
28.2
850.1
1643.4
2
3
4
1445.9
1577.9
1734.0
1905.9
21995
22225
2274.0
2327.1
2406.1
24442
2521.7
5
72.9
3.3
203.4
62.6
5.1
226.4
93.0
8.6
226.0
73.7
19.1
208.9
199.9
28.7
245.7
197.2
28.7
240.6
178.4
31.4
248.9
195.2
255
245.6
197.3
27.3
253.6
1972
24.6
252.1
219.7
26.0
269.8
6
7
8
0.0
51.8
6.3
0.0
62.4
6.0
0.0
80.6
5.4
0.0
116.4
4.6
0.0
136.4
3.6
0.Q
142.9
3.4
0.0
149.3
3.1
0.0
1615
2.9
0.0
167.2
2.6
0.0
181.6
25
0.0
1885
2.4
9
10
11
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
284.8
274.9
7.2
1.9
0.9 *
335.7
321.2
11.2
2.4
1.0
3785
360.1
14.1
2.2
2.1
423.2
396.3
21.5
3.1
2.3
428.7
398.1
23.0
4.8
2.8
433.9
395.8
31.2
4.1
2.8
4475
404.7
36.1
3.9
2.8
462.1
419.0
36.2
4.2
2.8
4675
4215
37.3
4.7
4.0
471.3
423.4
39.1
4.7
4.0
473.7
424.7
40.6
4.8
3.7
12
13
14
15
16
17
18
19
Savings institutions
Credit unions
Bank personal trusts and estates
185.7
14.4
315
145.0
19.6
32.6
143.0
28.7
31.8
147.3
36.3
32.7
159.9
40.9
32.2
163.4
40.9
31.8
161.9
43.7
31.3
165.0
43.2
30.8
164.6
45.7
30.2
161.6
475
29.7
158.9
49.9
29.1
17
18
19
20
21
22
23
Life insurance companies
Other insurance companies
Private pension funds
State and local govt retirement funds
121.0
32.0
91.8
82.3
164.2
42.1
98.7
76.8
193.0
42.6
104.8
73.1
222.8
445
109.9
68.7
234.1
45.8
113.8
76.3
242.1
46.4
116.0
81.0
244.0
47.0
1185
83.7
247.4
475
120.2
83.9
242.9
48.2
123.3
92.9
239.1
48.7
125.2
96.8
2405
49.4
127.9
105.1
20
21
22
23
24
25
26
27
28
Money market mutual funds
Mutual funds
Government-sponsored enterprises
ABS issuers
Brokers and dealers
36.4
48.6
11.9
123.8
44.0
40.6
67.1
34.7
104.1
54.0
54.3
87.9
47.0
82.7
53.0
67.8
105.7
65.3
98.3
60.8
77.2
102.1
128.4
100.8
45.0
75.0
102.3
133.3
98.7
45.0
88.2
102.3
155.1
97.7
42.0
81.5
104.9
159.6
104.4
46.0
90.8
109.9
185.8
102.3
54.0
96.2
1155
199.8
104.7
50.0
89.6
120.4
213.3
109.1
48.4
24
25
26
27
28
(1) Agency securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government sponsored enterprises (line 3) such as FNMA and FHLB;
and federally related mortgage-backed securities issued by GNMA, FNMA, FHLMC, 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 30.
87
Z.1, September 12,1996
L.211 Municipal Securities and Loans
Billions of dollars; levels, not seasonally adjusted
1990
1991
1992
1993
1994
---------------------- 1995 ---------------------Ql
1
Total liabilities
Q2
Q3
Q4
-------- 1996 ------Ql
02
11844
12722
13023
13773
13482
1335.4
1331.7
1309.9
1307.0
1304.7
13113
1
2
3
4
State and local governments
Short-term (1)
Long-term
983.5
26.2
957.3
1064.8
33.1
1031.7
1086.1
32.0
1054.0
1149.0
33.8
1115.1
1106.6
31.7
1075.0
1094.3
35.3
1059.1
1089.3
31.1
1058.1
1067.0
31.1
1035.9
1062.4
32.9
1029.6
1061.2
34.2
1027.1
10673
31.9
1035.7
2
3
4
5
6
Nonprofit oiganizations (2)
Nonfinancial corporate business
(industrial revenue bonds)
85.8
1152
933
114.0
102.7
114.0
114.7
113.9
129.2
112.4
1303
110.6
1323
109.9
1333
109.4
135.0
109.5
135.9
107.6
136.2
107.6
5
6
11844
12722
13023
13773
13482
1335.4
1331.7
13093
1307.0
1304.7
13113
7
7
Total assets
8
9
10
Household sector
Nonfinancial corporate business
State and local governments
572.1
24.7
14.0
610.4
44.8
15.4
581.2
45.8
14.8
555.6
54.7
14.3
505.0
59.4
113
500.8
54.1
10.2
495.1
55.3
8.8
474.1
56.4
7.2
461.8
54.7
5.6
4643
41.3
3.9
465.8
50.0
1.9
8
9
10
11
12
13
Commercial banking
Savings institutions
Bank personal trusts and estates
117.4
3.0
80.8
1032
2.4
89.9
973
2.1
96.0
99.2
2.1
108.9
97.6
2.0
1142
95.3
2.0
112.7
94.4
2.0
109.6
93.3
2.0
106.1
93.4
2.0
103.1
93.0
2.0
100.6
92.7
1.9
99.3
11
12
13
14
15
16
17
Life insurance companies
Other insurance companies
Private pension funds
State and local govt retirement funds
12.3
136.9
0.6
0.4
10.2
126.8
0.6
02
11.4
134.3
0.6
03
14.7
146.1
0.6
0.7
12.8
153.8
0.7
0.4
11.7
155.4
0.7
0.4
13.2
157.1
0.7
0.3
12.7
159.1
0.7
0.3
11.9
161.0
0.7
03
12.3
163.0
0.7
0.4
13.0
165.0
0.8
0.7
14
15
16
17
18
19
20
Money market mutual funds
Mutual funds
Closed-end funds
84.0
112.6
14.1
90.6
139.7
25.4
96.0
168.4
39.7
105.6
211.3
43.9
113.4
207.0
51.6
119.3
206.1
532
120.8
205.4
54.7
123.3
206.1
56.2
127.7
210.2
57.1
141.0
212.1
57.1
136.7
212.6
58.3
18
19
20
21
22
Government-sponsored enterprises
Brokers and dealers
3.7
7.9
3.0
9.4
32
11.3
2.6
17.1
3.4
15.5
2.8
10.8
2.6
11.7
3.0
9.3
4.4
12.7
3.9
8.9
4.1
8.8
21
22
(1) Debt with original maturity of 13 months or less.
(2) Liability of the households and nonprofit oiganizations sector (tables F.100 and L. 100).
L.212 Corporate and Foreign Bonds
Billions of dollars; levels, not seasonally adjusted
1
Tatal liabilities
1703.1
1866.7
2040.1
23183
24683
25244
26053
26903
27754
28343
29033
1
1008.2
115.4
1086.9
1303
11543
1473
1229.7
230.1
1253.0
242.3
1266.3
245.8
1290.9
258.6
1305.8
272.4
1326.3
290.6
1341.0
3023
13583
305.4
2
2
3
Nonfinancial corporate business
Rest of the world (1)
4
5
6
Financial sectors
Commercial banking
Savings institutions
5793
108.9
12.7
649.3
113.2
8.6
738.4
127.6
53
8583
134.9
3.9
9733
142.6
3.1
1012.3
147.4
3.1
1056.4
154.2
3.1
1112.7
159.4
3.1
1158.7
161.1
3.1
1191.2
155.9
2.9
1240.0
161.6
2.6
4
5
6
7
8
9
10
11
ABS issuers
Finance companies
REITs
Brokers and dealers
Funding corporations
254.0
178.0
2.8
15.3
7.7
300.8
190.2
3.0
19.0
14.7
356.9
196.3
4.0
21.7
26.4
435.7
206.0
4.3
33.7
40.0
492.2
235.0
6.3
34.3
60.0
500.6
254.4
6.8
26.9
73.2
521.9
264.4
7.4
26.8
78.7
559.9
272.1
7.9
27.4
82.8
587.7
284.7
83
29.3
84.4
608.4
291.4
9.0
21.4
102.2
634.2
301.8
9.7
24.6
105.6
7
8
9
10
11
1703.1
1866.7
2040.1
23183
24683
25244
26053
26903
27754
28343
29033
12
213.8
2173
301.8
233.4
296.8
2513
340.6
273.3
346.3
311.4
361.0
325.4
366.7
338.3
407.2
3533
408.9
3683
413.4
386.7
398.1
4043
13
14
88.7
75.6
27.3
96.3
72.7
30.7
94.7
80.0
36.8
98.2
89.1
35.8
1023
86.7
35.3
100.9
84.9
34.8
1023
863
33.9
108.6
84.8
33.0
110.9
32.2
109.7
75.6
313
110.4
69.3
31.0
15
16
17
566.9
89.2
149.2
169.3
595.1
973
164.7
128.4
653.9
97.8
188.4
147.8
7193
103.1
211.1
157.7
779.4
110.1
233.4
163.0
800.3
1133
241.1
166.9
829.4
116.7
2493
165.8
838.4
120.0
256.3
162.6
870.1
123.3
267.0
160.4
879.6
126.6
274.9
165.1
9063
129.9
285.8
172.1
18
19
20
21
12
Total assets
3
13
14
Household sector
Rest of the world (2)
15
16
17
Commercial banking
Savings institutions
Bank personal trusts and estates
18
19
20
21
Life insurance companies
Other insurance companies
Private pension funds
State and local govt retirement funds
22
23
24
Money market mutual funds
Mutual funds
Closed-end funds
2.0
59.3
15.7
3.8
87.7
14.1
6.3
118.7
16.3
11.7
169.3
20.8
153
172.4
152
15.1
172.7
14.4
16.7
180.1
133
18.8
187.0
133
213
195.7
13.4
24.6
2053
13.4
25.0
215.6
13.7
22
23
24
25
26
27
Government-sponsored enterprises
Brokers and dealers
Funding corporations
0.0
28.9
0.0
0.0
40.9
0.0
0.0
50.9
0.0
11.1
73.0
4.0
193
64.4
14.0
21.7
57.7
14.0
23.8
66.4
16.0
20.2
66.8
20.0
25.0
76.4
23.8
23.1
75.3
29.8
22.7
75.3
44.0
25
26
27
(1) Holdings of foreign issues by U.S. residents.
(2) Holdings of U.S. issues by foreign residents.
783
88
Z.1, September 12, 1996
L.213 Corporate Equities (1)
Billions of dollars; levels, not seasonally adjusted
1990
1991
1992
1993
1994
---------------------- 1995 ----------------------
Ql
1
Issues at market value
2
Nonfinancial corporate business
3
4
Rest of the worid (2)
Financial corporations
5
6
7
Holdings at market value
Household sector
Rest of the worid (3)
Q2
Q3
Q4
-------- 1996 ------Q2
Ql
35302
48634
546231
62785
6293.4
68355
7393.0
80135
8345.4
88205
9181.0
1
2610.8
3614.7
3967.1
4388.0
4460.0
48435
5229.0
5596.1
5783.1
6065.4
6363.8
2
110.0
809.3
158.8
1090.1
179.7
1316.1
302.8
1587.7
324.0
1509.4
328.1
1664.2
338.3
1825.8
360.3
2057.4
411.1
2151.2
458.6
2296.5
488.1
2329.1
3
4
35302
48634
546231
62785
6293.4
68355
7393.0
80135
8345.4
88205
9181.0
5
1760.0
243.8
2652.7
299.0
2918.7
329.2
3284.8
3735
3167.8
368.9
3446.2
398.6
3708.9
4375
40085
4795
4165.8
509.0
4312.1
5432
4481.6
564.2
6
7
8
9
10
Commercial banking
Savings institutions
Bank personal trusts and estates
22
8.8
190.1
3.8
10.3
234.2
3.4
112
216.9
4.3
125
181.0
2.9
10.4
165.3
2.8
11.3
174.7
3.0
12.6
188.6
4.6
13.6
197.0
5.0
14.3
2005
5.2
15.9
2075
5.6
16.3
211.0
8
9
10
11
12
13
14
Life insurance companies
Other insurance compenies
Private pension funds
State and local govt retirement funds
97.9
79.9
5925
296.1
151.4
94.1
686.6
386.6
175.5
97.3
821.9
448.9
228.0
103.4
9249
506.7
274.4
112.1
921.4
507.4
291.7
118.5
988.0
562.4
314.6
125.0
1044.1
611.3
341.1
1315
1111.4
668.3
357.8
138.0
1149.4
705.7
3755
146.1
1231.1
760.9
3782
149.7
1258.3
789.0
11
12
13
14
15
16
17
Mutual funds
Closed-end funds
Brokers and dealers
2332
16.2
9.6
308.9
21.8
14.3
401.3
23.8
14.8
607.4
27.7
24.2
709.6
33.1
20.1
784.3
35.3
22.0
886.2
37.3
23.9
991.7
39.8
26.8
1024.9
40.8
34.2
1151.0
43.8
28.2
1250.6
44.7
31.7
15
16
17
3312.3
4570.9
5143.8
5816.1
58012
6329.1
6865.6
7450.9
7716.4
8138.7
8461.2
18
Memo:
18
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.
(3) Holdings of U.S. issues by foreign residents.
(4) Sum of lines 2 and 4 less the sum of lines 8, 11,15, 16; line 1 excludes intercorporate boldings of nonfinancial corporations.
L.214 Mutual Fund Shares
Billions of dollars; levels, not seasonally adjusted
1
Shares at market value
608.4
2
Holdings at market value
7695
9925
13754
14775
15535
1661.0
1782.0
18525
19945
2112.0
1
608.4
7695
9925
13754
14775
15535
1661.0
1782.0
18525
19945
2112.0
2
3
4
Household sector
Nonfinancial corporate business
471.9
9.7
593.3
14.8
741.0
21.1
998.4
29.8
1058.9
31.1
1093.0
345
1156.3
38.1
1224.9
42.0
1264.7
47.8
1354.7
52.0
1428.8
55.6
3
4
5
6
7
Commercial hanking
Credit unions
Bank personal trusts and estates
1.9
1.4
62.7
3.7
2.6
93.6
3.4
4.1
128.1
3.9
4.2
1835
2.0
0.0
202.4
2.1
0.0
216.7
2.4
0.0
228.3
2.6
0.0
245.1
2.3
0.0
256.0
25
0.0
268.1
2.3
0.0
277.6
5
6
7
8
9
Life insurance compenies
Private pension funds
30.7
30.0
13.1
48.4
16.9
78.0
23.9
131.8
7.4
175.6
9.0
197.9
10.0
225.9
11.0
256.4
14.1
267.9
17.0
300.0
20.8
327.0
8
9
89
Z.1, September 12,1996
L.215 Bank Loans Not Elsewhere Classified
Billions of dollars; levels, not seasonally adjusted
1990
1991
1992
1993
1994
1995
Ql
1
Total loans by commercial
banking, flow of ftaids basis
Q2
Q3
Q4
Ql
1996 ------Q2
21002
2097.0
2139.8
22233
2407.1
24523
2539.0
2590.1
26463
26573
2703.7
1
12.7
849.3
387.0
36.2
10.6
881.3
372.4
46.8
9.2
9003
3653
88.0
7.3
947.7
399.7
100.7
5.8
1013.1
462.9
94.9
43
1033.8
463.0
872
5.7
1062.2
476.3
96.0
5.4
1082.0
492.4
93.9
5.7
1090.1
507.8
993
6.1
1097.3
500.9
96.8
4.9
1109.7
507.8
91.9
2
3
4
5
815.0
785.9
7763
7682
830.4
8644
8983
9163
9433
956.7
989.4
6
640.2
156 J
5.3
13.0
586.7
185.8
3.4
10.0
567.0
195.7
3.7
10.2
574.6
182.0
1.9
9.7
620.1
1972
1.8
11.3
644.1
2062
23
11.6
667.9
2163
22
122
679.0
222.8
1.9
12.6
695.9
232.6
2.3
13.1
7033
237.7
1.9
13.7
723.9
249.4
2.0
142
7
8
9
10
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
11
7763
7682
8304
8644
8983
9163
9433
956.7
989.4
12
- Loans elsewhere classified:
2
3
4
5
6
Open market paper
Mortgages
Consumer credit
Security credit
■ Banking sector total bank loans nxx.
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
12
- Total bonk loans n.ex.
815.0
785.9
13
Total liabilities
815.0
785J
7763
7682
8304
8644
8983
9163
9433
956.7
989.4
13
745.4
707.6
696.1
700.6
775.1
811.0
840.3
856.0
883.1
892.8
919.7
14
12.1
5453
136.4
32.9
8.7
507.7
135.0
34.6
113
488.4
137.7
34.7
18.6
482.4
1382
36.8
292
530.4
150.7
38.7
31.4
558.7
155.7
36.9
33.3
577.8
159.7
40.0
34.2
5863
1622
413
42.4
602.2
164.2
39.7
37.4
613.3
167.7
37.6
44.1
622.4
171.7
40.9
15
16
17
18
183
2.8
5.9
9.8
21.6
2.4
6.9
12.3
23.9
3.3
7.6
13.0
24.6
2.4
8.8
133
26.1
22
8.8
152
282
23
8.9
16.7
29.6
2.1
93
17.9
31.6
2.3
10.6
18.7
34.6
2.6
10.9
21.1
36.8
2.2
12.2
22.4
403
3.3
13.1
24.1
19
20
21
22
69.6
78.4
803
67.6
55.3
53.4
58.4
60.3
60.8
63.9
69.7
23
9.7
31.0
24.6
4.4
8.9
42.3
22.2
5.0
8.9
37.6
302
3.7
8.4
25.3
302
3.6
9.3
212
18.7
6.0
10.0
21.0
16.9
53
11.3
213
20.6
5.0
12.4
21.8
21.6
43
14.6
23.1
19.1
4.0
152
233
21.6
33
14.8
262
25.6
3.1
24
25
26
27
14
Nonfinancial sectors
15
16
17
18
Households
Corporate business
Nonfarm noncorporate business
Farm business
19
20
21
22
Restof the world
Foreign official institutions
Foreign banks
Other foreign
23
24
25
26
27
Financial sectors
Savings institutions
Finanoe companies
Mortgage companies
RETTs
90
Zl, September 12, 1996
L.216 Other Loans and Advances
Billions of dollars; levels, not seasonally adjusted
1990
1991
1992
1993
1994
Ql
-------- 1995 ----------- ---------Q3
Q2
Q4
-------- 1996 ------02
Ql
1
Total other loans and advances
934.7
832.1
8442
852.1
930.1
9482
962.1
9682
9913
10033
10234
1
2
U.S. government loans
156.4
1483
1483
1453
135.7
1343
132.7
130.0
127.7
125.1
1233
2
3
4
5
6
7
8
9
Liab.: Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
Hann business
State and local governments
Rest of the world
Government-sponsored enterprises
18.6
8.8
40.3
13.8
9.6
60.4
4.9
20.8
7.9
40.4
9.8
10.0
55.0
4.8
21.6
7.9
40.1
93
9.9
55.1
4.8
20.3
8.1
40.7
8.7
92
53.9
4.8
17.0
8.6
42.1
7.1
82
52.7
0.0
15.8
8.8
42.6
6.6
7.8
52.9
0.0
143
9.0
43.0
6.0
73
52.8
0.0
13.1
92
433
5.3
7.1
51.9
0.0
113
9.4
44.0
4.6
6.7
513
0.0
9.8
9.6
443
3.8
62
51.1
0.0
8.0
9.9
45.0
3.0
5.8
51.4
0.0
3
4
5
6
7
8
9
10
Foreign loans to U.S. corporate business
172.4
125.1
1294
113.4
1223
126.1
1243
1263
1214
1264
1273
10
11
Liab.: Nonfinancial corporate business
172.4
125.1
129.9
113.4
122.3
1264
1243
126.3
121.4
126.4
127.0
11
12
Customers’ liability on acceptances
outstanding (bank asset)
453
353
31.7
253
224
24.0
243
23.7
223
223
22.1
12
13
14
Liab.: Nonfinancial corporate business
Rest of the world
29.2
16.3
23.3
12.0
20.4
11.3
17.1
82
15.0
7.9
16.0
7.9
16.6
7.7
15.6
8.1
142
8.2
13.7
8.9
13.1
9.0
13
14
15
Savings institution loans to business
343
193
12.4
103
103
113
12.1
123
123
133
143
15
16
17
Liab.: Nonfinancial corporate business
Nonfarm noncorporate business
17.2
172
9.7
9.7
6.2
62
5.4
5.4
5.1
5.1
5.9
5.9
6.0
6.0
6.3
6.3
6.4
6.4
6.8
6.8
7.3
7.3
16
17
18
Policy loans (Household liability)
623
783
86.4
873
893
914
964
98.7
1004
18
Asset Federal government
Life insurance companies
0.9
61.6
672
0.9
66.4
72.9
19
20
0.9
72.1
0.9
77.7
0.9
853
0.9
87.0
0.9
88.7
0.9
91.0
0.9
95.9
0.9
97.8
0.9
993
19
20
21
Government-sponsored enterprise loans
164.1
1313
1353
162.0
189.1
1843
1873
1903
2013
2023
217.1
21
22
23
24
25
26
27
28
Liab.: Household sector (SLMA)
Noncorporate business (FCS)
Harm business (FCS)
Commercial banks (FHLB and SLMA)
Savings institutions (FHLB and SLMA)
Credit unions (FHLB)
Life insurance companies (FHLB)
19.8
10.1
9.8
6.7
117.7
0.0
0.0
22.0
113
112
9.3
77.8
0.0
0.0
24.9
12.6
11.4
123
74.0
0.0
0.0
27.6
13.9
11.6
212
87.3
0.2
02
31.3
13.9
12.4
303
100.0
0.5
0.6
32.4
15.1
12.0
29.9
94.6
0.4
0.6
34.1
14.6
13.1
33.3
913
0.3
0.6
34.9
152
13.7
344
91.6
0.4
0.6
36.2
16.4
13.8
36.7
97.4
0.4
03
372
17.8
13.7
32.4
99.7
0.4
1.1
393
16.9
14.9
33.8
1103
0.3
12
22
23
24
25
26
27
28
29
ABS issuers loans to business
53
83
113
213
254
273
294
303
32.7
334
363
29
30
Liab.: Nonfinancial corporate business
5.8
8.8
11.6
21.6
25.9
27.0
29.4
303
32.7
33.4
36.0
30
31
Finance company loans to business
293.7
2953
3013
2943
3373
3513
3613
3624
3754
3804
383.7
31
32
33
Liab.: Nonfinancial corporate business
Nonfarm noncorporate business
264.3
29.4
266.2
29.6
2712
30.1
265.2
293
303.9
33.8
316.7
352
325.7
36.2
326.2
362
338.3
37.6
342.8
38.1
345.3
38.4
32
33
91
Z.1, September 12,1996
L.217 Total Mortgages
Billions of dollars; levels, not seasonally adjusted
1
2
3
4
5
6
Tetal mortgages
Home
Multifamily residential
Commercial
Farm
Total liabilities
------- 1996 ------Q2
Ql
1990
1991
1992
1993
1994
3803.7
3962.6
4094.1
4269.0
4473.1
4514.0
45814
4657.8
4706.7
47754
48594
1
2676.2
289.8
758.8
78.9
2849.8
284.4
749.1
79.3
3037.4
274.2
701.7
80.7
3227.6
270.8
689.4
81.2
3430.0
275.3
684.8
83.0
3462.9
276.4
691.3
83.4
3521.1
280.4
696.2
83.8
3587.7
284.3
7013
84.4
3626.8
287.9
707.3
84.6
3682.2
292.0
715.9
85.2
3749.9
296.9
726.3
863
2
3
4
5
3803.7
3962.6
4094.1
4269.0
4473.1
4514.0
45814
46574
4706.7
47754
48594
6
---------------------- 1995 ---------------------Q2
Q4
Ql
Q3
Household sector
2629.9
2813.4
2985.4
3154.7
3363.4
3399.0
34603
3531.4
35733
3635.8
3709.4
7
8
9
10
11
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
1169.4
173.3
917.2
78.9
1144.4
153.8
911.3
79.3
1103.3
126.4
896.2
80.7
1105.4
121.9
902.3
812
1090.9
111.6
896.4
83.0
1095.0
112.6
899.0
83.4
1099.8
114.2
901.8
83.8
1103.7
115.4
904.0
84.4
1109.2
1182
906.3
84.6
1114.2
119.1
909.8
85.2
1123.3
122.4
914.3
863
8
9
10
11
12
13
Federal government
REITs
0.0
4.3
0.0
4.8
0.0
5.4
0.0
8.9
0.0
18.7
0.0
20.0
0.0
21.3
0.0
22.6
0.0
24.0
0.0
25.4
0.0
26.9
12
13
3803.7
39624
4094.1
4269.0
4473.1
4514.0
45814
7
14
Total assets
46573
4706.7
4775.4
48594
14
15
16
17
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
1463
52.8
31.1
154.6
59.0
26.0
161.7
60.0
25.2
181.4
52.3
25.2
190.6
54.2
25.3
191.7
55.7
25.3
194.3
57.2
25.4
1972
592
253
1973
613
25.6
199.8
633
25.7
204.0
65.0
25.8
15
16
17
18
19
StBte and local governments
Federal government
110.2
82.9
113.7
98.3
113.7
86.4
108.3
85.0
1103
71.0
111.8
68.8
112.9
64.5
113.0
61.3
113.8
57.6
114.3
55.1
114.8
53.7
18
19
20
21
22
23
Commercial hanking
Savings institutions (1)
Credit unions
Bank personal trusts and estates
849.3
801.6
49.7
42
881.3
705.4
52.8
4.0
9003
628.0
56.1
3.9
947.7
598.3
56.0
3.6
1013.1
596.2
62.1
3.4
1033.8
601.8
63.8
33
1062.2
599.7
64.1
3.6
1082.0
604.6
653
3.7
1090.1
596.8
663
3.9
1097.3
595.9
67.8
4.0
1109.7
606.2
70.8
4.1
20
21
22
23
24
25
26
27
Life insurance companies
Other insurance companies
Private pension funds
State and local govt retirement funds
267.9
6.9
24.7
16.1
265.3
63
18.4
16.9
246.7
5.9
14.8
163
229.1
43
15.3
143
215.3
3.8
16.4
15.2
2152
3.6
16.7
15.4
215.4
3.3
16.9
15.6
217.9
3.1
17.0
15.7
211.8
2.8
17.4
15.9
211.7
2.6
18.0
16.1
2103
2.3
18.4
16.3
24
25
26
27
28
29
30
Government-sponsored enterprises (1)
Federally related mortgage pools
ABS issuers
156.1
1019.9
60.8
167.9
11563
101.7
199.9
1272.0
1622
243.6
1355.6
207.8
248.4
1472.1
246.2
247.4
1479.9
251.4
248.5
1499.0
260.0
253.1
1526.6
268.4
256.0
1570.3
283.3
257.4
1599.7
295.0
260.1
1643.4
302.6
28
29
30
31
32
33
Finance companies
Mortgage companies
REITs
66.3
49.2
7.7
67.1
60.3
7.0
722
603
8.1
71.7
60.4
8.6
783
373
13.3
80.8
33.9
13.8
83.4
41.4
14.2
86.1
43.2
14.7
86.6
34.1
15.1
89.1
46.8
15.6
93.1
42.7
16.1
31
32
33
(1) FHLB loans to savings institutions are included in other loans and advances.
92
Z.1, September 12, 1996
L.218 Home Mortgages (1)
Billions of dollars; levels, not seasonally adjusted
1990
1
2
3
4
5
6
7
8
Total liabilities
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
Total assets
Household sector
Nonfinancial oorporate business
Nonfarm noncorporate business
9
10
State and local governments
Federal government
11
12
13
14
Commercial banking
Savings institutions
Credit unions
Bank personal trusts and estates
15
16
17
Life insurance companies
Private pension funds
State and local govt retirement funds
18
19
20
Government-sponsored enterprises
Federally related mortgage pools
ABS issuers
21
22
23
Finance companies
Mortgage companies
REITs
1991
1992
1993
1994
---------------------- 1995 ---------------------Q4
Q2
Q3
Ql
-------- 1996 ------Ql
Q2
26762
28493
3037.4
3227.6
3430.0
34625
3521.1
3587.7
36263
36822
37495
1
2490.8
16.6
168.8
2654.4
17.0
178.4
28155
17.5
204.4
2970.0
18.1
2395
3164.6
18.7
246.8
3195.4
18.8
248.7
3253.2
19.0
248.9
3320.1
19.1
248.5
3360.4
19.3
247.0
3416.7
195
246.0
3484.8
19.6
245.5
2
3
4
26762
28493
3037.4
32275
3430.0
34625
3521.1
3587.7
36263
36822
3749.9
5
130.4
30.2
95
138.3
33.7
8.9
144.6
36.1
95
163.6
26.6
13.7
171.3
29.0
16.6
172.3
29.9
16.6
174.7
30.6
16.6
177.6
32.0
16.7
177.9
33.6
16.7
180.0
34.9
16.8
183.8
35.0
16.8
6
7
8
60.9
37.9
62.9
37.1
62.3
35.1
56.3
30.3
57.3
24.8
585
23.8
59.3
21.7
59.8
20.8
605
19.0
60.8
17.4
61.3
16.7
9
10
458.0
6002
49.7
4.2
485.6
538.4
52.8
4.0
510.8
489.6
56.1
3.9
560.7
470.0
56.0
3.6
6165
4775
62.1
3.4
630.2
483.6
63.8
35
654.0
482.0
64.1
3.6
6675
489.2
655
3.7
669.3
482.8
665
3.9
671.3
483.4
67.8
4.0
676.0
492.7
70.8
4.1
11
12
13
14
115
4.1
3.7
11.4
3.2
3.4
95
3.3
35
7.9
3.6
3.9
7.6
3.7
4.0
7.6
3.7
42
7.7
3.7
4.3
75
3.8
4.4
75
3.9
4.6
7.4
4.0
4.7
15
16
17
115.3
991.1
54.9
126.2
1130.4
915
156.7
1248.2
140.7
198.9
1333.2
173.6
202.8
1449.7
1945
202.0
1457.7
197.9
203.1
1475.1
202.7
207.3
1501.9
207.7
209.7
1543.4
214.6
2105
1571.9
219.4
212.8
16145
221.4
18
19
20
66.3
41.9
0.4
67.1
53.1
0.4
72.2
52.7
0.9
71.7
522
0.9
785
29.3
15
80.8
25.6
15
83.4
33.0
1.6
86.1
34.6
1.6
86.6
24.8
1.7
89.1
375
1.7
93.1
33.0
1.8
21
22
23
2895
2844
2742
2705
2755
2764
2804
2843
2875
292.0
2965
1
18.3
270.0
18.8
264.0
19.3
2532
19.9
248.0
20.5
248.7
20.6
2492
20.8
252.6
20.9
255.9
21.1
258.9
212
262.4
21.4
266.6
2
3
0.0
1.4
0.0
1.6
0.0
1.8
0.0
3.0
0.0
62
0.0
6.6
0.0
7.0
0.0
75
0.0
7.9
0.0
8.4
0.0
8.9
4
5
2895
2844
2742
2705
2755
2764
2804
2843
287.9
292.0
2965
6
12
12
9.0
0.6
0.6
8.4
05
05
8.3
0.8
0.8
75
1.4
1.4
6.4
15
15
6.3
1.6
15
6.3
1.7
1.6
6.4
1.7
1.6
6.4
1.7
1.7
6.4
1.7
1.9
6.4
7
8
9
13.0 ’
8.7
35
(1) Mortgages on 1*4 family properties.
L.219 Multifamily Residential Mortgages
Billions of dollars; levels, not seasonally adjusted
1
Total liabilities
2
3
Nonfinancial corporate business
Nonfarm noncorporate business
4
5
Federal government
REITs
6
7
8
9
Tetal assets
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
10
11
State and local governments
Federal government
40.7
22.9
41.7
31.9
42.4
27.6
42.8
24.6
435
22.0
43.7
21.4
43.9
19.8
44.0
18.3
44.1
17.3
44.4
16.9
445
16.8
10
11
12
13
Commercial banking
Savings institutions
37.0
91.8
36.9
79.9
38.0
69.8
38.6
67.4
38.9
64.4
39.7
63.8
40.6
644
43.0
63.6
43.8
61.9
44.7
60.4
45.2
60.7
12
13
14
15
16
Life insurance companies
Private pension funds
State and local govt retirement funds
29.0
4.1
5.1
29.6
0.8
4.8
27.8
0.7
42
25.8
0.7
4.1
245
0.8
4.3
24.3
0.8
45
243
0.8
44
24.6
0.8
4.4
23.9
0.8
45
23.9
0.8
4.6
23.8
0.9
4.6
14
15
16
17
18
19
Government-sponsored enterprises
Federally related mortgage pools
ABS issuers
132
28.7
0.7
14.6
26.1
3.7
16.2
23.8
6.3
17.9
225
8.7
18.7
22.4
14.9
19.0
222
15.7
19.0
23.9
17.3
19.3
24.7
18.9
195
26.9
21.3
19.7
27.8
245
19.7
28.9
26.7
17
18
19
20
21
Mortgage companies
REITs
2.8
2.3
2.7
22
3.0
5.3
3.1
5.6
3.1
8.7
32
9.0
32
9.3
35
9.6
4.2
9.9
42
10.2
4.6
105
20
21
93
Z.1, September 12,1996
L.220 Commercial Mortgages
Billions of dollars; levels, not seasonally adjusted
1990
1991
1992
1993
1994
---------------------- 1995 ---------------------Q4
Q3
Ql
Q2
-------- 1996 ------Ql
02
7585
749.1
701.7
689.4
6845
6913
6962
7015
7073
7155
7263
1
139.1
138.4
478.4
2.9
158.9
118.0
468.9
3.2
169.8
89.6
438.7
3.6
184.6
83.9
414.8
6.0
198.9
72.4
401.0
125
203.6
73.2
401.1
13.4
207.3
745
400.2
. 14.3
211.4
75.3
399.7
152
213.0
77.9
400.4
16.1
219.0
78.4
401.4
17.0
224.7
81.4
4022
18.0
2
3
4
5
7585
749.1
701.7
689.4
6845
6913
6962
7015
7073
7155
7263
6
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
2.8
21.3
11.8
2.8
24.7
8.0
3.7
235
65
5.3
24.8
3.2
75
23.8
15
75
24.3
15
75
25.1
15
7.4
25.6
15
7.3
262
15
7.1
26.9
1.6
6.8
282
1.6
7
8
9
10
11
State and local governments
Federal government
7.1
13.4
7.7
212
75
14.6
7.7
205
8.3
132
8.1
12.5
82
11.8
7.8
10.9
7.7
102
7.8
10.0
7.7
9.8
10
11
12
13
Commercial banking
Sevings institutions
337.1
109.2
340.3
86.7
331.8
68.2
3275
60.7
335.1
54.0
340.9
54.1
344.0
53.1
347.7
51.6
353.1
51.8
357.4
51.8
363.9
52.4
12
13
14
15
16
17
Life insurance companies
Other insurance companies
Private pension funds
State and local govt retirement funds
215.1
6.9
11.9
75
214.1
65
135
8.3
198.3
5.9
10.9
8.9
184.3
45
11.3
7.0
1735
3.8
12.1
7.0
173.4
3.6
122
7.0
173.8
3.3
12.4
7.0
175.9
3.1
125
7.0
170.8
2.8
12.8
7.0
170.7
2.6
132
7.0
169.7
2.3
135
7.0
14
15
16
17
18
19
20
ABS issuers
Mortgage companies
REITs
52
45
5.0
65
45
45
15.2
4.8
1.9
25.5
5.1
2.1
36.8
5.1
3.2
37.8
5.1
3.3
40.1
5.1
3.4
41.8
5.1
35
47.4
5.1
3.6
51.1
5.1
3.7
545
5.1
3.8
18
19
20
1
2
3
4
5
6
7
8
9
Total liabilities
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
REITs
Total assets
L.221 Farm Mortgages
Billions of dollars; levels, not seasonally adjusted
1
Total liabilities (Farm business)
785
793
80.7
812
835
83.4
835
84.4
844
852
865
1
2
Total assets
785
793
80.7
812
83.0
834
835
84.4
844
852
865
2
12.0
0.7
12.9
0.8
13.0
0.8
11.7
0.8
10.4
0.9
10.4
0.9
10.4
0.9
105
0.9
10.6
0.9
11.1
0.9
11.6
0.9
3
4
15
8.6
15
82
15
9.1
15
9.7
1.4
11.0
1.4
11.1
1.4
112
1.4
11.3
1.4
11.1
1.4
10.8
1.3
105
5
6
3
4
Household sector
Nonfarm noncorporate business
5
6
State and local governments
Federal government
7
8
Commercial banking
Savings institutions
17.2
05
18.4
0.4
19.9
0.3
20.9
0.3
22.6
0.3
22.9
0.3
23.6
0.3
23.8
0.3
23.8
0.3
23.9
0.3
24.6
0.3
7
8
9
10
Life insurance companies
State and local govt retirement funds
10.8
0.0
10.0
0.0
92
0.0
95
0.0
9.6
0.0
9.9
0.0
9.6
0.0
9.6
0.0
9.6
0.0
9.6
0.0
9.6
0.0
9
10
11
12
Government-sponsored enterprises
Federally related mortgage pools
27.6
0.0
27.1
0.0
27.0
0.0
26.8
0.0
26.9
0.0
26.4
0.0
26.4
0.0
265
0.0
26.8
0.0
27.2
0.0
27.6
0.0
11
12
94
Z.1, September 12, 1996
L.222 Consumer Credit
Billions of dollars; levels, not seasonally adjusted
1990
1991
1992
1993
1994
---------------------- 1995 ---------------------Q2
Q4
Ql
Q3
-------- 1996 ------Q2
Ql
1
Total liabilities (Households)
811.1
7974
8024
8633
9902
99051
10304
10782
11313
11254
11484
1
2
Total assets
811.1
7974
8024
863.9
9902
99051
10304
10782
11313
11254
11484
2
67.1
0.0
63.0
0.0
65.7
0.0
77.2
0.0
86.6
0.0
79.7
0.0
803
0.0
78.3
0.0
85.1
0.0
76.7
0.0
72.1
0.0
3
4
3
4
Nonfinancial corporate business
Nonfarm noncorporate business
5
6
7
Commercial banking
Savings institutions
Credit unions
387.0
49.6
91.6
372.4
42.2
90.3
3653
37.4
89.4
399.7
37.9
101.6
462.9
38.5
119.6
463.0
373
120.6
476.3
383
125.7
492.4
39.7
1292
507.8
40.1
131.9
500.9
40.8
130.8
507.8
40.3
134.6
5
6
7
8
9
ABS issuers
Finance companies
77.6
138.2
1033
126.0
1213
122.9
131.1
116.5
147.8
134.8
154.3
135.8
168.1
141.7
192.4
146.2
2144
152.6
2244
151.7
238.2
155.9
8
9
9272
9482
995.1
10533
11674
11602
11803
12133
1262.0
1252.0
12994
1
68.9
77.7
823
89.8
97.4
99.7
102.0
104.4
106.7
109.1
1113
2
626.3
60.0
12.7
649.4
59.7
13.0
682.8
66.6
132
719.3
69.2
14.2
811.0
71.9
143
799.2
72.7
14.6
810.2
73.7
14.8
837.7
74.7
14.9
8783
75.9
15.1
865.2
77.0
152
899.3
78.3
15.3
3
4
5
L.223 Trade Credit
Billions of dollars; levels, 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
34.6
91.2
25.4
85.8
27.7
83.1
28.4
863
28.8
95.4
28.9
96.4
28.9
982
29.0
101.0
29.0
101.3
29.0
1023
29.0
112.6
6
7
8
9
Rest of the world
Brokers and dealers
27.4
6.1
30.4
6.8
31.8
7.4
35.9
10.1
393
9.1
39.7
9.0
43.3
9.3
42.2
10.0
45.2
10.3
42.4
11.6
40.7
13.0
8
9
1217.7
12114
1246.1
13004
14183
14544
1485.0
15444
15374
15782
16473
10
9672
97.8
961.4
96.7
988.9
103.8
1035.0
107.6
1141.4
111.6
1171.8
112.8
1199.2
114.0
1252.8
115.2
1228.7
116.6
1259.4
118.0
1321.9
119.3
11
12
10
Total trade receivables
11
12
Nonfinancial corporate business
Nonfarm noncorporate business
13
14
Federal government
Restof the worid
45.3
42.8
40.4
42.3
33.3
44.7
30.7
47.9
26.6
50.9
26.8
50.7
26.0
49.1
25.9
49.9
26.4
51.9
283
52.8
29.4
54.0
13
14
15
16
Other insuranoe companies
ABS issuers
472
17.4
49.1
213
49.0
26.3
50.7
28.8
52.9
353
54.0
383
55.1
41.6
56.2
44.6
57.3
56.2
58.4
612
593
632
15
16
-2903
-263.1
-251.1
-247.6
-251.3
-294.3
-3043
-330.7
-275.0
-326.1
-3473
17
1374
1883
217.7
2794
279.0
2693
2773
2862
3054
3263
316.0
1
17
Discrepancy
L.224 Security Credit
Billions of dollars; levels, not seasonally adjusted
1
Total liabilities
2
3
Household sector
Restof the worid
38.8
0.0
55.1
0.0
533
0.0
76.1
0.0
75.1
0.0
69.4
0.0
68.7
0.0
77.4
0.0
78.6
0.0
89.1
0.0
89.8
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.
98.6
62.4
27.8
8.4
133.8
87.0
30.0
16.8
164.2
762
57.3
30.7
202.9
102.3
61.4
39.3
203.9
109.0
56.8
38.1
200.1
112.9
56.1
31.1
209.2
113.2
62.3
33.7
208.9
114.9
593
343
227.1
127.6
65.1
344
237.8
140.9
63.0
33.8
2262
134.3
59.3
32.6
4
5
6
7
1374
1883
217.7
279.0
279.0
2693
2773
2862
3054
326.9
316.0
8
8
Total assets
9
10
Household sector
Rest of the worid
62.4
0.0
87.0
0.0
762
0.0
102.3
0.0
109.0
0.0
112.9
0.0
113.2
0.0
114.9
0.0
127.6
0.0
140.9
0.0
134.3
0.0
9
10
11
12
Commercial banking
Brokers and dealers
36.2
38.8
46.8
55.1
88.0
533
100.7
76.1
94.9
75.1
872
69.4
96.0
68.7
93.9
77.4
99.5
78.6
96.8
89.1
91.9
89.8
11
12
95
Z.1, September 12,1996
L.225 Life Insurance and Pension Fund Reserves
Billions of dollars; levels, not seasonally adjusted
1990
1991
1992
1993
1994
---------------------- 1995 ------------------Ql
Q2
Q3
Q4
----- 1996 ------Ql
Q2
life insurance reserves:
1
Total liabilities
380.0
405.7
433.0
4682
5022
515.1
529.1
537.7
5465
5522
5695
1
2
3
Federal government
Life insurance compenies
11.8
368.1
11.9
393.8
115
4215
11.0
457.2
10.7
4915
10.7
504.4
10.6
5185
10.6
527.0
10.6
536.3
10.6
541.6
10.6
559.0
2
3
4
Total assets (Households)
380.0
405.7
433.0
4682
5022
515.1
529.1
537.7
5465
5522
5694
4
33064
36554
4055.1
44715
46914
4885.7
50844
5298.1
54265
55592
57145
5
2505
595.2
276.0
655.7
3035
745.1
331.1
853.8
358.9
897.4
353.4
926.3
362.3
961.4
380.6
990.0
374.8
1012.3
382.9
10425
393.2
1055.1
6
7
1640.3
820.4
1844.8
878.8
2009.0
9975
2199.0
1087.7
2289.4
1145.7
2391.8
12142
2482.9
1277.8
2590.4
1337.1
2652.8
1386.6
2688.1
1445.7
2767.7
1498.6
8
9
33064
3655.4
4055.1
44715
46914
4885.7
50844
5298.1
54265
55592
57145
10
Pension fund reserves:
5
Total liabilities
6
7
Federal government
Life insurance companies
8
9
Private pension funds (1)
State and local govt retirement funds
10
Total assets (Households)
(1) includes unallocated insurance company contracts beginning in 1985:Q4.
L.226 Taxes Payable by Businesses
Billions of dollars; levels, not seasonally adjusted
1
Total taxes payable by all businesses
774
70.0
79.7
84.9
885
942
892
915
892
942
904
1
2
3
Nonfinancial corporate business
Nonfarm noncorporate business
415
32.0
33.3
325
405
33.1
425
33.8
44.9
34.6
50.4
34.8
44.9
35.0
46.9
35.2
44.2
35.4
48.7
35.6
44.6
35.8
2
3
4
5
U.S.-chartered commercial banks
Savings institutions
0.6
0.9
05
12
0.7
1.4
12
1.9
1.9
1.0
2.1
1.3
2.3
12
2.6
1.6
2.8
1.6
3.1
1.6
3.4
1.4
4
5
6
7
Life insurance companies
Other insurance companies
0.6
0.6
0.6
0.6
1.4
1.0
2.0
12
2.1
1.3
2.0
1.3
2.0
1.3
1.9
12
1.8
12
1.7
1.2
15
12
6
7
8
9
Finance companies
Brokers and dealers
0.6
0.7
0.4
0.9
0.6
0.9
0.8
1.4
1.0
12
1.1
1.3
1.1
1.3
12
1.3
12
1.1
1.3
1.1
1.3
12
8
9
594
534
544
58 j0
635
842
635
632
554
805
62.7
10
37.1
225
37.0
16.4
38.9
155
39.1
18.9
385
245
36.1
48.1
35.8
27.8
34.3
28.9
32.4
232
31.8
49.0
31.8
30.8
11
12
17.8
16.6
25.2
26.8
25.0
10.0
25.6
28.7
33.7
13.4
27.8
13
10
11
12
13
Total business taxes receivable
State and local governments
Federal government
Discrepancy
L.227 Investment in Bank Personal Trusts and Estates
Billions of dollars; levels, not seasonally adjusted
1
Liab.: Bank personal trusts and estates
551.7
6392
6604
6912
6994
719.7
739.7
7584
7674
7814
791.0
1
2
Asset: Household sector
551.7
6392
6604
6912
6994
719.7
739.7
7584
7674
7814
7915
2
96
Zl, September 12, 1996
L.229 Total Miscellaneous Financial Claims
Billions of dollars; levels, not seasonally adjusted
1
Total liabilities
1990
1991
1992
1993
1994
4132.6
4443.7
4785.7
5174.1
5435.9
5514.9
5590.1
56955
58482
59732
59982
1
16.5
1605.0
77.8
15.7
1745.2
90.6
15.8
1948.8
98.4
16.6
2130.3
100.7
175
2136.4
105.2
17.8
2122.3
104.3
18.0
2153.1
105.6
18.2
2182.0
107.1
18.4
2203.0
108.8
18.6
2249.6
110.4
18.8
2245.7
112.0
2
3
4
---------------------- 1995 ---------------------Q3
Q2
Q4
Ql
-------- 1996 ------Q2
Ql
2
3
4
Household sector
Nonfinancial corporate business
Nonfann noncorporate business
5
6
Federal government
Rest of the world
7.7
717.2
7.0
727.7
6.9
731.6
6.8
825.6
6.8
895.0
6.6
907.7
6.8
947.5
6.6
969.0
6.7
10205
6.6
1051.4
6.6
1042.8
5
6
7
8
9
10
Monetary authority
Commercial banking
Savings institutions
Credit unions
4.3
465.1
107.6
3.9
5.5
507.6
106.4
45
3.7
554.6
106.8
4.6
4.6
628.4
103.0
5.1
6.0
750.1
106.7
6.4
7.0
8025
107.6
4.9
7.2
776.9
105.6
4.7
6.9
802.9
107.0
4.6
7.2
848.4
106.1
45
65
839.0
102.4
4.4
6.6
859.9
105.0
4.3
7
8
9
10
11
12
Life insurance companies
Other insurance companies
327.3
396.9
3595
416.4
357.1
439.1
364.7
4565
382.0
471.0
392.2
483.9
398.4
498.0
400.8
511.4
403.0
526.7
4012
5405
406.6
553.7
11
12
13
14
15
Government-sponsored enterprises
Finance companies
Mortgage companies
70.6
160.3
24.6
78.3
164.0
38.2
90.8
180.8
30.3
85.9
191.0
302
61.1
216.9
18.7
57.3
225.7
17.0
63.1
234.3
20.8
655
235.3
21.6
67.1
2445
15.0
68.4
2425
252
63.4
241.6
17.1
13
14
15
16
17
18
REITs
Brokers and dealers
Funding corporations
1.2
37.5
109.0
2.9
41.5
132.8
2.4
522
162.0
2.3
67.9
154.4
5.3
692
1815
55
66.4
186.4
5.9
69.0
1755
6.3
72.2
177.9
65
79.8
182.0
6.8
75.9
223.7
7.0
76.5
230.7
16
17
18
47594
5061.7
5299.7
5835.1
6169.0
62645
62895
63562
66315
67314
67714
19
224.4
2176.3
215.9
36.6
234.1
22605
215.0
37.8
251.0
2355.8
218.7
39.8
264.1
2615.3
223.0
41.3
274.7
2727.2
2275
43.3
2875
27755
228.8
43.9
300.6
2802.7
230.1
445
312.4
2817.6
231.3
452
324.6
2920.4
232.6
46.0
337.0
2997.7
233.8
46.8
351.1
30075
235.0
47.7
20
21
22
23
19
Total assets
20
21
22
23
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
Farm business
24
25
Federal government
Rest of the world
68.7
567.3
104.8
641.4
1202
609.0
116.3
701.6
119.7
699.7
115.6
665.2
114.3
646.7
115.7
638.9
117.2
756.2
115.8
825.9
114.9
8215
24
25
26
27
28
29
30
Monetary authority
Commercial banking
Savings institutions
Credit unions
Bank personal trusts and estates
6.0
455.4
131.2
7.9
8.7
5.6
474.3
112.6
12.3
10.8
7.4
551.6
96.6
15.7
12.6
9.6
630.0
70.4
17.3
16.0
9.8
742.1
57.8
16.7
12.9
8.6
777.8
56.0
17.2
125
9.4
773.8
58.4
16.8
12.3
9.2
788.3
57.2
16.1
12.1
10.7
802.9
58.1
16.2
11.9
9.7
8112
53.7
18.4
11.6
10.1
8175
48.7
175
11.3
26
27
28
29
30
31
32
33
34
Life insurance companies
Other insurance companies
Private pension funds
State arid local govt retirement funds
81.3
24.8
346.0
78.3
85.7
23.7
396.9
69.3
77.7
24.0
377.8
100.8
76.7
28.8
359.9
110.2
92.4
305
354.0
1345
955
31.2
354.3
132.9
93.6
31.3
350.4
145.0
932
32.0
350.7
151.8
94.3
34.9
346.9
1605
91.1
35.9
241.9
151.7
88.7
36.9
244.9
1545
31
32
33
34
35
36
37
Money market mutual funds
Mutual funds
Government-sponsored enterprises
4.0
8.9
29.8
7.7
8.2
35.9
12.7
3.0
23.3
23.7
3.3
26.7
30.6
5.9
22.0
305
5.6
23.4
33.8
7.3
26.3
37.9
8.0
38.1
43.4
6.3
272
49.7
5.0
32.2
505
5.6
25.8
35
36
37
38
39
40
41
Finance companies
REITs
Brokers and dealers
Funding corporations
104.0
55
97.0
81.4
134.3
7.0
129.0
74.8
130.6
5.8
180.4
85.1
158.6
8.8
228.6
104.6
170.7
8.7
254.2
133.9
181.8
9.2
265.6
145.8
185.2
9.9
248.7
148.9
185.1
10.6
248.0
156.8
197.0
11.3
258.1
154.8
199.8
12.0
283.0
167.6
201.6
12.7
289.6
178.1
38
39
40
41
-627.0
-638.0
-514.0
-660.9
-733.1
-749.7
-699.7
-660.9
-783.3
-758.2
-7732
42
42
Discrepancy
97
Z.1, September 12,1996
L.230 Identified Miscellaneous Financial Claims - Part I
Billions of dollars; levels, not seasonally adjusted
-------- 1996 ------Ql
Q2
1990
1991
1992
632.1
5585
24.9
2.7
24.8
18.7
25
655.4
578.0
25.4
3.7
23.7
212
35
668.0
580.0
29.9
4.0
24.0
24.6
5.4
714.8
598.4
33.8
4.9
28.8
44.6
4.3
779.3
665.6
36.5
4.7
305
36.9
5.1
795.5
6835
36.3
5.1
31.2
34.3
5.2
815.3
697.7
36.6
5.4
31.3
38.9
5.3
834.4
718.5
37.4
5.4
32.0
35.1
5.9
880.1
751.9
38.6
5.8
34.9
39.9
9.1
904.6
772.3
39.1
5.9
35.9
415
9.9
929.3
794.1
39.6
6.3
36.9
42.0
10.4
1
2
3
4
5
6
7
1993
1994
---------------------- 1995 ---------------------Ql
Q2
Q3
Q4
17.5. direct investment abroad:
1
2
3
4
5
6
7
Liab.: Rest of the world
Asset Nonfinancial corporate business
Commercial hanking
Life insurance companies
Other insurance companies
Finance companies
Brokers and dealers
Foreign direct investment in U.S.:
8
9
10
11
12
13
14
15
Liab.: Nonfinancial corporate business
Nonfarm noncorporate business
Commercial banking
Life insurance companies
Other insurance companies
Finance companies
Brokers and dealers
Funding corporations
473.8
3.8
18.4
9.9
17.3
4.6
3.8
-642
483.3
3.4
24.9
8.6
24.7
5.6
5.8
-64.3
495.1
3.6
28.4
11.0
24.8
7.6
5.3
-76.4
492.9
2.3
335
135
27.1
295
5.6
-65.2
527.4
32
35.6
13.4
27.0
32.6
6.1
-65.4
547.7
1.0
375
13.6
27.1
32.4
6.1
-75.3
5635
1.0
37.3
13.7
28.6
31.1
62
-81.1
577.9
1.0
39.6
142
29.1
41.0
6.2
-83.1
579.7
1.0
41.8
15.3
31.9
42.3
55
-79.1
599.0
1.0
42.8
16.0
33.0
475
5.6
-78.0
6205
1.0
43.8
165
33.6
48.4
5.6
-91.4
8
9
10
11
12
13
14
15
16
Asset Rest of the world
467.3
491.9
499.4
539.2
579.8
590.4
600.4
626.0
6385
667.0
678.0
16
20.9
20.9
22.4
22.4
23.8
23.8
25.0
25.0
26.4
26.4
26.7
26.7
27.0
27.0
27.4
27.4
27.9
27.9
28.3
28.3
28.7
28.7
17
18
2.4
2.4
2.7
2.7
3.1
3.1
3.4
3.4
3.7
3.7
3.8
3.8
3.8
3.8
3.9
3.9
4.0
4.0
4.0
4.0
4.1
4.1
19
20
Federal government equity in IBRD, etc.:
17
18
Liab.: Rest of die 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
15.0
14.8
14.7
16.3
182
18.6
19.1
19.7
20.3
20.8
21.7
21
22
23
24
25
26
27
28
29
Asset Nonfin. corporate business (FNMA)
Nonfarm noncorporate (BC)
Farm business (FICB and FLB)
Federal government
Commercial banks (FHLB)
Savings institutions (FHLB)
Credit unions (FHLB)
Life insurance companies (FHLB)
1.3
0.6
2.0
0.0
0.1
11.0
0.0
0.0
1.8
0.6
22
0.0
0.7
95
0.0
0.0
1.9
0.6
2.1
0.0
1.4
8.6
0.0
0.0
1.9
0.8
2.2
0.0
2.7
8.7
0.1
0.0
2.0
0.9
22
0.0
4.3
8.6
0.1
0.1
2.0
1.0
22
0.0
4.8
8.6
0.1
0.1
2.0
1.0
22
0.0
52
8.6
0.1
0.1
2.0
1.0
2.1
0.0
55
8.9
0.1
0.1
2.0
1.0
2.2
0.0
5.8
9.1
0.2
0.1
2.4
1.0
2.1
0.0
6.0
9.0
0.2
0.1
2.8
1.0
2.2
0.0
62
9.4
02
0.1
22
23
24
25
26
27
28
29
Liab.: Commercial banking
Savings institutions
Finance companies
Mortgage companies
Brokers and dealers
207.8
6.0
225
24.6
2.1
227.2
5.0
17.2
382
-195
255.0
4.0
18.9
30.3
-9.9
286.6
4.4
21.4
302
0.3
3042
4.4
255
18.7
7.8
317.1
4.4
26.3
17.0
10.9
325.9
4.4
28.8
20.8
10.7
337.4
45
295
21.6
8.0
344.3
45
312
15.0
14.0
348.6
45
312
25.2
7.4
361.7
4.6
305
17.1
19.0
30
31
32
33
34
Asset Bank holding companies
263.0
268.2
298.2
342.9
360.6
375.7
3905
400.9
409.0
416.9
432.9
35
152
152
18.2
182
205
205
21.4
21.4
25.5
255
262
26.2
28.7
28.7
29.5
295
31.1
31.1
31.1
31.1
305
305
36
37
BHC investment in subsidiaries:
30
31
32
33
34
35
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
47.6
33.8
30.3
445
215
63.7
23.8
80.8
37.0
96.9
405
105.3
40.8
108.1
41.4
115.4
40.0
114.8
41.0
126.6
40.4
137.8
38
39
40
Asset Funding corporations
81.4
74.8
85.1
104.6
133.9
145.8
148.9
156.8
154.8
167.6
178.1
40
98
Z.1, September 12, 1996
L.231 Identified Miscellaneous Financial Claims - Part II
Billions of dollars; levels, not seasonally adjusted
1991
1990
1992
1993
1994
---------------------- j995 ---------------------Q2
Ql
Q3
Q4
-------- 1996 ------02
Ql
Nonofficialforeign currencies:
1
2
Liab.: Rest of the wodd
Asset Federal government
0.6
0.6
1.6
1.6
1.7
1.7
2.0
2.0
2.2
2.2
1.8
1.8
1.8
1.8
2.1
2.1
2.1
2.1
2.3
2.3
2.0
2.0
1
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
0.0
0.0
0.0
3
4
30.7
30.7
31.7
31.7
30.8
30.8
23.7
23.7
16.0
16.0
14.8
14.8
17.9
17.9
16.9
16.9
19.3
19.3
17.5
175
14.9
14.9
5
6
165
165
15.7
15.7
15.8
15.8
16.6
16.6
175
175
17.8
17.8
18.0
18.0
18.2
18.2
18.4
18.4
18.6
18.6
18.8
18.8
7
8
Postal Savings System deposits:
3
4
Liab.: Federal government
Asset Household sector
Deposits at Federal Home Loan Banks:
5
6
Liab.: Government-sponsored enterprises
Asset Savings institutions
Deferred and unpaid life insurance premiums:
7
8
Liab.: Household sector
Asset Life insurance companies
•
Life insurance company reserves:
10
11
Liab.: Life insurance companies
Health
Policy dividend accumulation
65.4
33.4
31.9
70.0
382
31.7
775
45.2
32.3
84.2
51.4
32.8
90.9
58.0
32.9
93.1
60.0
33.1
95.4
62.0
33.4
96.0
62.4
33.6
96.9
632
33.7
97.7
64.0
33.7
100.0
65.8
34.1
9
10
11
12
Asset Household sector
65.4
70.0
775
842
90.9
93.1
95.4
96.0
96.9
97.7
100.0
12
9
Policy payables:
13
Liab.: Other insurance companies
379.7
391.7
414.3
429.4
444.0
456.8
469.4
482.3
494.8
5075
520.1
13
14
13
16
17
Asset Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
Farm business
159.1
1475
38.6
34.6
164.1
1495
42.4
35.6
173.6
163.0
39.9
37.7
179.9
169.7
40.8
39.1
183.9
1775
41.6
41.1
194.4
178.9
41.8
41.7
205.2
179.8
42.1
42.3
216.4
180.4
42.3
43.1
227.7
180.7
42.6
43.8
239.3
180.7
42.8
44.6
251.1
180.4
43.1
455
14
15
16
17
189.4
189.4
210.0
210.0
195.8
195.8
1892
1892
197.2
1972
198.7
198.7
198.6
198.6
200.0
200.0
2005
2005
199.4
199.4
201.9
201.9
18
19
13.6
13.6
17.3
17.3
19.3
19.3
22.4
22.4
25.6
25.6
26.4
26.4
27.2
272
28.0
28.0
28.8
28.8
29.6
29.6
30.4
30.4
20
21
71.4
71.4
102.9
102.9
1535
1535
197.1
197.1
221.7
221.7
233.4
233.4
214.6
214.6
211.7
211.7
216.2
216.2
242.6
242.6
250.1
250.1
22
23
Unallocated insurance company contracts:
18
19
Liab.: Life insurance companies
Asset Private pension funds
Pension fund contributions payable:
20
21
Liab.: Nonfinancial corporate business
Asset Private pension funds
Securities borrowed (net):
22
23
Liab.: Funding corporations
Asset Brokers and dealers
99
Z.1, September 12, 1996
L.232 Unidentified Miscellaneous Financial Claims
Billions of dollars; levels, not seasonally adjusted
1
Total liabilities
2
3
Nonfinancial corporate business
Nonfarm noncorporate business
4
5
6
Federal government
Restof the world
Monetary authority
---------------------- 1995 ---------------------Q4
Q2
Q3
Ql
-------- 1996 ------02
Ql
1990
1991
1992
1993
1994
1868.0
20545
22642
2441.7
24934
24895
25134
2541.4
26054
2617.7
25564
1
1117.7
74.0
1244.6
872
1434.4
94.8
1615.0
98.3
1583.4
102.0
1548.2
103.3
1562.3
104.6
1576.1
106.1
1594.4
107.8
1620.9
109.4
1594.8
111.0
2
3
7.7
635
1.9
7.0
48.2
2.8
6.9
38.1
0.6
6.8
83.8
12
6.8
87.1
2.3
6.6
83.7
3.2
6.8
103.5
3.4
6.6
105.1
2.9
6.7
110.4
3.3
6.6
1163
25
6.6
82.7
2.4
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
1912
75.8
88.1
23.3
4.0
225.2
84.0
119.9
182
3.1
249.8
76.3
147.3
22.0
4.2
2845
91.0
168.4
19.6
5.6
373.3
158.9
185.0
22.0
7.4
407.3
169.4
207.4
232
7.3
372.9
129.9
211.8
22.9
8.3
384.6
139.0
213.6
23.7
8.3
422.3
160.7
226.7
24.6
10.3
406.6
148.7
221.4
26.3
103
414.0
156.2
224.4
23.6
9.9
7
8
9
10
11
12
13
14
15
Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises
101.6
3.9
62.7
24.9
101.4
45
70.9
31.8
102.8
4.6
72.8
45.4
98.6
5.1
77.7
45.8
102.3
6.4
80.6
26.8
1032
4.9
86.7
23.9
101.1
4.7
90.6
26.1
1025
4.6
90.6
28.9
101.6
45
90.2
27.6
97.9
4.4
88.2
30.1
100.4
4.3
88.3
26.9
12
13
14
15
16
17
18
19
Finance companies
REITs
Brokers and dealers
Funding corporations
118.1
1.2
-2.1
101.8
122.9
2.9
10.7
94.3
133.7
2.4
-6.9
84.9
118.7
2.3
-18.8
225
133.3
5.3
-415
25.3
140.8
55
-56.0
28.2
145.7
5.9
-55.9
42.0
1355
6.3
-57.4
49.3
139.9
65
-545
44.9
132.7
6.8
-63.7
59.1
1323
7.0
-85.9
72.0
16
17
18
19
2495.0
26925
27782
3102.7
32264
32392
32135
32025
3388.9
33755
33294
20
1453.8
176.8
1513.0
172.0
1590.4
178.1
1823.9
1815
1856.6
185.0
1884.9
186.0
1894.6
187.0
1887.1
188.0
1954.7
189.0
2011.1
190.0
1999.7
190.9
21
22
20
Total assets
21
22
Nonfinancial corporate business
Nonfarm noncorporate business
23
24
25
Federal government
Restof the world
Monetary authority
47.1
100.0
6.0
80.7
1495
5.6
94.6
109.6
7.4
89.3
1625
9.6
91.1
119.9
9.8
87.1
74.9
8.6
855
46.4
9.4
86.3
12.9
9.2
873
117.7
10.7
85.2
159.0
9.7
84.2
1435
10.1
23
24
25
26
27
28
29
30
Commercial banking
U.S.-chartered commercial banks
Foreign banking offices in U.S.
Bank holding companies
Banks in U.S.-affiliated areas
165.0
51.6
87.2
22.0
42
177.4
49.4
102.1
22.2
3.7
219.0
44.6
144.4
27.0
3.0
247.2
38.1
179.0
275
2.6
337.0
81.9
2175
35.2
2.4
357.3
97.7
220.8
36.9
2.0
337.6
845
214.5
36.2
2.4
3405
79.1
218.6
40.4
25
345.6
783
223.6
39.8
4.0
345.2
77.6
222.9
40.8
3.8
334.7
82.2
208.7
39.8
3.9
26
27
28
29
30
31
32
33
Savings institutions
Credit unions
Bank personal trusts and estates
895
7.9
8.7
71.4
12.3
10.8
57.2
15.7
12.6
38.0
17.3
16.0
332
16.6
12.9
32.7
17.1
125
31.9
16.7
12.3
31.3
15.9
12.1
29.8
16.0
11.9
273
183
11.6
245
17.3
11.3
31
32
33
34
35
36
Life insurance companies
Private pension funds
State and local govt retirement funds
62.1
143.0
78.3
66.3
169.6
69.3
57.9
162.6
100.8
552
148.3
1102
70.1
131.3
1345
72.6
129.2
132.9
70.1
1245
145.0
695
122.6
151.8
70.0
117.6
1605
66.4
13.0
151.7
63.4
12.6
154.5
34
35
36
37
38
39
Mutual funds
Money market mutual funds
Government-sponsored enterprises
8.9
4.0
29.8
8.2
7.7
35.9
3.0
12.7
23.3
3.3
23.7
26.7
5.9
30.6
22.0
5.6
305
23.4
7.3
33.8
26.3
8.0
37.9
38.1
6.3
43.4
273
5.0
49.7
323
5.6
505
25.8
37
38
39
40
41
42
Finance companies
RETTs
Brokers and dealers
85.3
55
23.1
113.1
7.0
22.6
106.0
5.8
215
114.0
8.8
27.2
133.8
8.7
27.4
147.6
9.2
27.0
146.3
9.9
28.7
149.9
10.6
30.4
157.1
11.3
32.9
158.2
12.0
30.6
1595
12.7
29.1
40
41
42
-627.0
-638.0
-514.0
-660.9
-733.1
-749.7
-699.7
-660.9
-783.3
-758.2
-773.2
43
43
Discrepancy
100
Z.1, September 12, 1996
F.lOO.a Nonprofit Organizations (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1988
1989
1990
1991
1992
1993
1
Net financial investment
35.4
145
7.7
41.1
173
4.4
1
2
Net acquisition of financial assets
623
593
443
933
565
523
2
3
4
5
6
Checkable deposits and currency
Time and savings deposits
Money market fund shares
Security RPs (2)
05
-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
-15
-13.8
05
3
4
5
6
7
Credit market instruments
51.6
22.6
23.4
-75
34.9
46.0
7
8
9
10
11
Open market paper
U.S. government securities
Treasury
Agency
34.4
115
33
8.2
-10.4
18.6
27.8
-9.2
63
105
-2.9
13.4
-29.9
143
7.8
6.4
-3.3
18.2
13.4
4.7
15.6
19.6
8.4
11.2
8
9
10
11
12
13
14
Municipal securities
Corporate and foreign bonds
Mortgages
-0.0
6.6
-0.8
1.9
115
0.9
-1.9
9.3
-0.7
0.1
83
-0.1
-0.1
19.3
0.9
2.2
6.9
1.6
12
13
14
11.3
-0.2
3.4
1.3
7.0
0.9
175
1.4
-0.8
3.0
8.6
-3.2
15
16
2.8
2.8
2.8
2.8
2.6
2.6
2.0
2.0
1.1
1.1
0.8
1.8
17
18
-0.1
65
-3.9
17.8
-6.0
22.1
15.2
16.9
10.6
-2.3
7.0
4.3
19
20
26.9
445
36.7
52.7
394
473
21
11.0
16.3
18.0
24.4
21.7
31.1
22
7.7
-35
0.4
19.9
9.3
1.7
-0.2
10.9
11.9
4.3
0.1
14.8
23
24
25
26
8.8
19.4
4.7
13.0
7.4
9.4
27
28
15
16
Corporate equities
Mutual fund shares
17
18
Security credit
Trade receivables (2)
19
20
Equity in noncorporate business
Miscellaneous assets (2)
21
22
Net increase in liabilities
Credit market instruments
23
24
25
26
Municipal securities
Bank loans n.e.c.
Other loans and advances
Commercial mortgages
1.3
03
-0.0
95
25
-53
-0.0
19.1
3.8
-15
0.3
15.3
27
28
Trade payables
Miscellaneous liabilities (2)
25
135
16.1
123
11.3
7.4
(1) Does not include religious organizations or organizations with less than $25,000 in gross annual receipts.
(2) Not included in table F.100.
Z.1, September 12,1996
101
L.100.a Nonprofit Organizations (1)
Billions of dollars; levels, not seasonally adjusted
Total financial assets
2
3
4
5
Checkable deposits and currency
lime and savings deposits
Money market fund shares
Security RPs (2)
6
Credit market instruments
1988
1989
1990
1991
1992
1993
4984
593.0
622.1
7383
803.1
866.4
1
17.0
15
15.9
1.7
15.9
6.8
20.8
4.8
17.3
0.6
19.6
25
21.3
11.1
525
1.3
225
8.7
565
7.3
24.1
7.1
42.7
7.8
2
3
4
5
201.4
224.0
247.4
240.0
274.9
320.9
6
7
8
9
10
Open market paper
U.S. government securities
Treasury
Agency
67.3
97.3
64.8
32.6
56.9
115.9
925
23.4
632
126.4
89.7
36.8
33.3
140.6
975
43.1
29.9
158.8
110.9
47.9
455
178.4
119.4
59.0
7
8
9
10
11
12
13
Municipal securities
Corporate and foreign bonds
Mortgages
0.0
34.2
2.6
1.9
45.7
35
0.0
55.0
2.8
02
63.2
2.8
0.1
82.5
3.7
2.3
89.4
5.3
11
12
13
116.9
12.7
152.3
17.3
145.4
16.9
182.1
222
187.1
27.1
207.2
23.5
14
15
14
15
Corporate equities
Mutual fund shares
16
17
Security credit
Trade receivables (2)
25.7
25.7
28.5
285
31.1
31.1
33.1
33.1
34.3
34.3
35.0
36.1
16
17
18
19
Equity in noncorporate business
Miscellaneous assets (2)
26.1
54.0
22.2
71.8
162
93.9
31.4
110.8
42.0
1085
49.0
112.8
18
19
3232
3673
4045
4572
4964
544.4
20
200.0
2162
234.2
258.6
280.4
311.4
21
20
21
Liabilities
Credit market instruments
22
23
24
25
Municipal securities
Bank loans n.e.c.
Other loans and advances
Commercial mortgages
795
15.5
0.3
104.7
81.9
10.3
0.3
123.7
85.8
8.8
05
139.1
935
5.3
0.9
158.9
102.7
7.0
0.7
169.8
114.7
11.3
0.8
184.6
22
23
24
25
26
27
Trade payables
Miscellaneous liabilities (2)
415
81.7
57.6
94.0
68.9
101.3
77.7
120.8
82.5
133.7
89.8
143.2
26
27
(1) Does not include religious organizations or organizations with less than $25,000 in gross annual receipts.
(2) Not included in table L. 100.
@FedFRASER