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For use at 12:00 p.m., eastern time Tuesday September 18, 2001 FEDERAL RESERVE statistical release Z.1 Flow of Funds Accounts of the United States Flows and Outstandings Second Quarter 2001 Board of Governors of the Federal Reserve System, Washington DC 20551 Flow of Funds Summary Statistics Second Quarter 2001 Domestic nonfinancial debt grew at a seasonally adjusted annual rate of 5-1/2 percent in the second quarter of 2001, near the pace in the first quarter of the year. An increase in borrowing by nonfederal sectors was about offset by a larger paydown of federal debt. Federal government debt contracted at a 6-1/2 percent rate in the second quarter, following little change in the first quarter. Since the peak in early 1998, federal government debt has dropped by about $570 billion, or 15 percent. Household debt expanded at a 9-1/4 percent rate in the second quarter. Home mortgage debt growth picked up to an 11-1/2 percent rate. In contrast, consumer credit decelerated to a 4-1/2 percent rate, the slowest in two years. In the nonfinancial business sector, debt grew at a 7-1/4 percent rate in the second quarter, faster than the previous quarter but still below last year’s pace. A large increase in net issuance of bonds and commercial mortgages was partially offset by a contraction in commercial paper and borrowing at banks. State and local government debt increased at an 8-1/2 percent rate in the second quarter, with substantial issuance of advance-refunding bonds and robust borrowing for new capital projects. The level of domestic nonfinancial debt outstanding was $18.8 trillion at the end of the second quarter. Debt of nonfederal sectors was $15.5 trillion, and federal debt was $3.3 trillion. 1 Growth of Domestic Nonfinancial Debt Percentage changes; quarterly data are seasonally adjusted annual rates Nonfederal Total Federal Total Households Business State and local govts. 1993 1994 1995 1996 1997 1998 1999 2000 4.9 4.5 5.4 5.3 5.6 6.7 6.7 5.0 8.3 4.7 4.1 4.0 0.6 -1.4 -1.9 -8.0 3.7 4.5 5.9 5.8 7.3 9.4 9.3 8.5 6.0 7.4 7.4 6.9 6.2 8.2 8.4 8.4 0.4 3.7 7.2 6.3 9.2 11.3 11.5 10.0 6.0 -4.0 -4.6 -0.6 5.3 7.2 4.4 2.2 2000:Q1 :Q2 :Q3 :Q4 5.5 5.5 4.5 4.2 -5.9 -11.3 -6.4 -9.6 8.5 9.8 7.2 7.5 7.9 9.2 8.0 7.2 10.7 12.2 7.3 8.4 1.0 1.5 1.9 4.2 2001:Q1 :Q2 5.5 5.6 -0.1 -6.4 6.7 8.3 7.8 9.2 5.4 7.2 7.8 8.4 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 Title Table Page Flow of Funds Accounts, Second Quarter 2001 1 Availability of Data for Latest Quarter 3 Debt Growth by Sector D.1 6 Borrowing by Sector D.2 7 Debt Outstanding by Sector D.3 8 Flows Table Page Levels Table Page Total Net Borrowing and Lending in Credit Markets F.1 9 L.1 58 Credit Market Borrowing by Nonfinancial Sectors F.2 10 L.2 59 Credit Market Borrowing by Financial Sectors F.3 10 L.3 59 Credit Market Borrowing, All Sectors, by Instrument F.4 11 L.4 60 Total Liabilities and Its Relation to Total Financial Assets F.5 11 L.5 60 Distribution of Gross Domestic Product F.6 12 Distribution of National Income F.7 13 Gross Saving and Investment F.8 14 Net Capital Transfers F.9 14 Derivation of Measures of Personal Saving F.10 15 L.10 61 Title Summaries Flows Levels Title Table Page Table Page Households and Nonprofit Organizations F.100 16 L.100 62 Nonfinancial Business F.101 17 L.101 63 Nonfarm Nonfinancial Corporate Business F.102 18 L.102 64 Nonfarm Noncorporate Business F.103 19 L.103 65 Farm Business F.104 19 L.104 65 State and Local Governments F.105 20 L.105 66 Federal Government F.106 21 L.106 66 Rest of the World F.107 22 L.107 67 Monetary Authority F.108 23 L.108 68 Commercial Banking F.109 24 L.109 69 U.S.-Chartered Commercial Banks F.110 25 L.110 70 Foreign Banking Offices in U.S. F.111 26 L.111 71 Bank Holding Companies F.112 27 L.112 72 Banks in U.S.-Affiliated Areas F.113 27 L.113 72 Savings Institutions F.114 28 L.114 73 Credit Unions F.115 29 L.115 74 Bank Personal Trusts and Estates F.116 29 L.116 74 Life Insurance Companies F.117 30 L.117 75 Other Insurance Companies F.118 30 L.118 75 Private Pension Funds F.119 31 L.119 76 State and Local Government Employee Retirement Funds F.120 31 L.120 76 Money Market Mutual Funds F.121 32 L.121 77 Title Flows Table Page Sectors Levels Table Page Mutual Funds F.122 32 L.122 77 Closed-End Funds F.123 32 L.123 77 Government-Sponsored Enterprises F.124 33 L.124 78 Federally Related Mortgage Pools F.125 33 L.125 78 Issuers of Asset-Backed Securities F.126 34 L.126 79 Finance Companies F.127 34 L.127 79 Mortgage Companies F.128 35 L.128 80 Real Estate Investment Trusts F.129 35 L.129 80 Security Brokers and Dealers F.130 36 L.130 81 Funding Corporations F.131 36 L.131 81 Gold and Official Foreign Exchange Holdings F.200 37 L.200 82 SDR Certificates and Treasury Currency F.201 37 L.201 82 U.S. Deposits in Foreign Countries F.202 37 L.202 82 Net Interbank Transactions F.203 38 L.203 83 Checkable Deposits and Currency F.204 39 L.204 84 Time and Savings Deposits F.205 40 L.205 85 Money Market Mutual Fund Shares F.206 40 L.206 85 Federal Funds and Security Repurchase Agreements F.207 41 L.207 86 Open Market Paper F.208 41 L.208 86 Treasury Securities F.209 42 L.209 87 Title Flows Table Page Instruments Levels Table Page Agency Securities F.210 43 L.210 88 Municipal Securities and Loans F.211 44 L.211 89 Corporate and Foreign Bonds F.212 44 L.212 89 Corporate Equities F.213 45 L.213 90 Mutual Fund Shares F.214 45 L.214 90 Bank Loans Not Elsewhere Classified F.215 46 L.215 91 Other Loans and Advances F.216 47 L.216 92 Total Mortgages F.217 48 L.217 93 Home Mortgages F.218 49 L.218 94 Multifamily Residential Mortgages F.219 49 L.219 94 Commercial Mortgages F.220 50 L.220 95 Farm Mortgages F.221 50 L.221 95 Consumer Credit F.222 51 L.222 96 Trade Credit F.223 51 L.223 96 Security Credit F.224 51 L.224 96 Life Insurance and Pension Fund Reserves F.225 52 L.225 97 Taxes Payable by Businesses F.226 52 L.226 97 Investment in Bank Personal Trusts F.227 52 L.227 97 Proprietors’ Equity in Noncorporate Business F.228 52 Total Miscellaneous Financial Claims F.229 53 L.229 98 Identified Miscellaneous Financial Claims - Part I F.230 54 L.230 99 Identified Miscellaneous Financial Claims - Part II F.231 55 L.231 100 Unidentified Miscellaneous Financial Claims F.232 56 L.232 101 Sector Discrepancies F.11 57 Instrument Discrepancies F.12 57 Title Balance Sheet Table Page Reconciliation Table Page Balance Sheet and Reconciliation Tables Households and Nonprofit Organizations B.100 102 R.100 104 Nonfarm Nonfinancial Corporate Business B.102 103 R.102 105 Title Flows Table Page Levels Table Page Nonprofit Organizations F.100.a 106 L.100.a 107 Consolidated Statement for Federal, State, and Local Governments F.106.c 108 L.106.c 109 Private Pension Funds: Defined Benefit Plans F.119.b 110 L.119.b 111 Private Pension Funds: Defined Contribution Plans F.119.c 110 L.119.c 111 Individual Retirement Accounts (IRAs) F.225.i 110 L.225.i 111 Supplementary Tables Flow of Funds Matrix for 2000 Balance Sheet of Households and Nonprofit Organizations with Equity Detail 112 113 B.100.e 114 1 Flow of Funds Accounts, Second Quarter 2001 This publication presents the flow of funds accounts for 2001:Q2. reflect newly available information from the Internal Revenue Service/Statistics of Income division. Data revisions and other changes. The statistics shown in these tables reflect the use of new or revised source data. Most significant revisions appear in recent quarters; however, new source information resulted in changes to data for earlier periods. The revisions include the following: Explanatory notes for tables D.1, D.2, and D.3. Domestic debt comprises credit market funds borrowed by U.S. entities from both domestic and foreign sources, while foreign debt represents amounts borrowed by foreign financial and nonfinancial entities in U.S. markets only. Financial sectors consist of government-sponsored enterprises, federally related mortgage pools, and private financial institutions. Credit market debt consists of debt securities, mortgages, bank loans, commercial paper, consumer credit, U.S. government loans, and other loans and advances; it excludes trade debt, loans for the purpose of carrying securities, and funds raised from equity sources. 1. Seasonal factors for quarterly financial flows have been recalculated for the period 1991:Q1 onward. The factors were generated using the Statistics Canada X-12-ARIMA/88 seasonal adjustment program. 2. The statistics in this publication reflect the annual revisions to the national income and product accounts for 1998 forward released by the Department of Commerce on July 27, 2001, and subsequent information for 2001:Q2 released on August 29, 2001. The August 2001 issue of the Survey of Current Business details the major features of the annual revision of the national income and product accounts. 3. In the nonfarm noncorporate business sector (tables F.103 and L.103), data have been revised from 1981:Q1 forward to reflect methodological changes which incorporated data from the 1987, 1993, and 1998 National Survey of Small Businesses and new source data for partnerships and sole proprietorships from the Internal Revenue Service Statistics of Income for 1998. 4. Revisions to the rest of the world sector (tables F.107 and L.107) reflect new estimates of the balance of payments from the Department of Commerce for the period 1989-2000. The revisions are detailed in the July 2001 Survey of Current Business. 5. In the GSE sector (tables F.124 and L.124), holdings of mortgage-backed securities, previously included in the agency and miscellaneous assets categories, have been reallocated across the agency, municipal, and corporate and foreign securities categories. 6. In the nonprofit sector (supplementary tables F.100.a and L.100.a), data for 1998 have been added to Growth rates in table D.1 are calculated by dividing seasonally adjusted flows from table D.2 by seasonally adjusted levels at the end of the previous period from table D.3. Seasonally adjusted levels in flow of funds statistics are derived by carrying forward year-end levels by seasonally adjusted flows. Growth rates calculated from changes in unadjusted levels printed in table L.2 can differ from those in table D.1. Relation of Flows to Outstandings. Estimates of financial assets and liabilities outstanding are linked to data on flows. However, figures on outstandings contain discontinuities or breaks in series that could affect analysis of particular relationships over time. Specifically, outstandings in the flow of funds accounts are related to the flows in the following way: Outstanding t = Outstanding t-1+ Flow t+ Discontinuity t where “t” is the time period. Discontinuities result from changes in valuation, 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 instances, the discontinuity is nonzero for almost all time periods, or is quite large in a particular quarter, such as a period when there is a sharp increase or decrease in equity prices or a major break in source data. The discontinuities in a series can distort estimated rates of growth in assets and liabilities 2 between periods. In order to minimize these distortions, percentage changes in assets and liabilities in flow of funds releases should be calculated as: Percentage change t = (Flow t / Outstanding t-1) * 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 publication is compiled and those that are not yet completed. However, the items that are shown as available are, in general, also preliminary in the sense that they are subject to revision by source agencies. Margins of Uncertainty. Flow of funds statistics are subject to uncertainties resulting from measurement errors in source data, incompatibilities among data from different sources, potential revisions in both financial and nonfinancial series, and incomplete data in parts of the accounts. The size of these uncertainties cannot be quantified in precise statistical terms, but allowance for them is explicitly made throughout the accounts by the inclusion of “discrepancies” for various sectors and instrument types. A discrepancy for a sector is the difference between its measured sources of funds and its measured uses of funds. For an instrument category, a discrepancy is the difference between measured funds borrowed through the financial instrument and measured funds lent through that instrument. The size of such discrepancies relative to the main asset or liability components is one indication of the quality of source data, especially on an annual basis. For quarterly data, differences in seasonal adjustment procedures for financial and nonfinancial components of the accounts sometimes result in discrepancies that cancel in annual data. Availability of Data. Flow of funds statistics are updated about ten weeks following the end of a quarter. This publication — the Z.1 release — is available from the Board's Publications Services. Flow of funds data are also available electronically through the Internet at the following location: http://www.federalreserve.gov/releases/Z1 The Internet site also provides quarterly data beginning in 1952, organized in compressed files that correspond to the tables published in this release. There are files for quarterly data for seasonally adjusted flows, unadjusted flows, outstandings, balance sheets, and debt (tables D.1, D.2, and D.3). There is a separate file for monthly data from January 1955 onward for the debt aggregate published in the Board's H.6 statistical release, “Money Stock and Debt Measures.” A Guide to the Flow of Funds Accounts is available. The 1,200-page Guide, in two volumes, explains in detail how the U.S. financial accounts are prepared and the principles underlying the accounts. The Guide can be purchased for $20.00 from the Board’s Publications Services. Publications Services accepts orders accompanied by checks as well as credit card orders. The Internet site for this release at the location shown above contains a link to an order form for the Guide that can be mailed or faxed to Publications Services. Subscription Information. The Federal Reserve Board charges for subscriptions to all statistical releases. Inquiries for releases should be directed to: Publications Services, Stop 127 Board of Governors of the Federal Reserve System 20th Street and Constitution Avenue, N.W. Washington, DC 20551 (202) 452-3244 3 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 2001:Q2. Unadjusted flows since 1999. 2. Households and nonprofit organizations sector (tables F.100 and L.100) Estimates for this sector are largely residuals and are derived from data for other sectors. Availability of data depends on schedules for other sectors. Data for consumer credit, which are estimated directly, are available through 2001:Q2. The source for nonprofit organizations data (tables F.100.a and L.100.a) is the Internal Revenue Service Statistics of Income. Data for nonprofit organizations are available for 1987 through 1998. 3. Nonfarm nonfinancial corporate business (tables F.102 and L.102) Quarterly Financial Report (QFR) of the Census Bureau through 2001:Q1; Internal Revenue Service Statistics of Income data through 1998; securities offerings, mortgages, bank loans, commercial paper, and other loans through 2001:Q2. Statistics of Income data since 1998; QFR data for 2001:Q2. 4. Nonfarm noncorporate business (tables F.103 and L.103) Internal Revenue Service Statistics of Income data through 1998; bank and finance company loans and mortgage borrowing through 2001:Q2. Statistics of Income data since 1998. 5. Farm business (tables F.104 and L.104) Mortgages, bank loans, loans from government-sponsored enterprises, U.S. government loans to farms, and equity in government-sponsored enterprises through 2001:Q2; preliminary data for checkable deposits and currency and trade payables through 2000. Consumption of fixed capital and undistributed profits since 2000. 4 6. State and local governments (tables F.105 and L.105) Gross offerings and retirements of municipal securities, deposits at banks, and nonmarketable U.S. government security issues through 2001:Q2; selected financial assets through 1999:Q2 from the comprehensive annual financial reports of state and local governments that account for most of the holdings of the sector, and data from Standard & Poor’s on local government investment pools. Selected financial asset items since 1999:Q2. 7. Federal government (tables F.106 and L.106) Data from the Monthly Treasury Statement of Receipts and Outlays through 2001:Q2; Treasury data for loan programs through 2001:Q2. None. 8. Rest of the world (U.S. international transactions) (tables F.107 and L.107) Balance of payments data through 2001:Q2; NIPA estimates; data from bank Reports of Condition and Treasury International Capital System through 2001:Q2. 9. Monetary authority (tables F.108 and L.108) All data through 2001:Q2. None. 10. Commercial banking (tables F.109 through F.113 and tables L.109 through L.113) All data through 2001:Q2 for U.S.-chartered commercial banks, foreign banking offices in the U.S., bank holding companies, and commercial banks in U.S.-affiliated areas. Data since 2000 for branches of domestic commercial banks located in U.S.-affiliated areas. 11. Savings institutions (tables F.114 and L.114) All data through 2001:Q2. None. 12. Credit unions (tables F.115 and L.115) All data through 2001:Q2. None. 13. Bank personal trusts and estates (tables F.116 and L.116) All data through 1999. Data since 1999. 14. Life insurance companies (tables F.117 and L.117) All data through 2001:Q1. Data for 2001:Q2. 15. Other insurance companies (tables F.118 and L.118) All data through 2001:Q1. Data for 2001:Q2. None. 5 16. Private pension funds (including FERS Thrift Savings Plan) (tables F.119 and L.119) Quarterly data through 2001:Q2; Internal Revenue Service/Department of Labor/Pension Benefit Guaranty Corporation Form 5500 data through 1997. Form 5500 data since 1997. 17. State and local government employee retirement funds (tables F.120 and L.120) All data through 2001:Q1. Data for 2001:Q2. 18. Money market mutual funds (tables F.121 and L.121) All data through 2001:Q2. None. 19. Mutual funds (tables F.122 and L.122) All data through 2001:Q2. None. 20. Closed-end funds (tables F.123 and L.123) All data through 2000. Data since 2000. 21. Government-sponsored enterprises (tables F.124 and L.124) Data for FHLBs, Fannie Mae, Freddie Mac, FCS, FICO, REFCORP, and Sallie Mae through 2001:Q2. None 22. Federally related mortgage pools (tables F.125 and L.125) All data through 2001:Q2. None. 23. Issuers of asset-backed securities (ABSs) (tables F.126 and L.126) All data for private mortgage pools, consumer credit, business loans, student loans, consumer leases, and trade credit securitization through 2001:Q2. None. 24. Finance companies (tables F.127 and L.127) All data through 2001:Q2. None. 25. Mortgage companies (tables F.128 and L.128) Mortgage data through 1998:Q1. Data since 1998:Q1. 26. Real estate investment trusts (REITs) (tables F.129 and L.129) Data from SNL REIT DataSource through 2001:Q2. None 27. Security brokers and dealers (tables F.130 and L.130) Data for firms filing FOCUS and FOGS reports through 2001:Q2. None. 28. Funding corporations (tables F.131 and L.131) Estimates for this sector are largely residuals and are derived from data for other sectors. 6 Z.1, September 18, 2001 D.1 Debt Growth by Sector 1 In percent; quarterly figures are seasonally adjusted annual rates Total Federal government Total nonfederal Domestic nonfinancial sectors Nonfederal Households Home Consumer Total mortgage credit Business Total Corporate State and local governments Domestic financial sectors Foreign 1966 1967 1968 1969 1970 6.7 7.3 7.9 7.2 6.9 1.4 4.9 4.5 -1.1 4.2 8.5 8.1 8.9 9.7 7.6 6.6 5.7 8.2 7.7 4.4 5.9 5.8 7.0 6.9 4.5 6.1 5.0 9.9 8.3 3.4 11.4 11.1 10.1 11.6 10.3 11.9 11.6 10.3 11.4 12.9 6.7 6.7 7.5 9.6 8.7 17.7 -1.8 17.3 32.8 14.5 5.1 9.8 6.3 6.9 5.7 1971 1972 1973 1974 1975 9.5 10.0 10.7 9.2 9.3 8.3 4.6 2.0 3.4 23.9 9.8 11.4 12.9 10.5 6.3 9.2 11.3 12.4 8.8 8.3 8.6 11.2 11.7 9.6 9.3 11.7 13.1 13.3 4.6 3.8 10.1 12.4 14.7 13.0 4.9 7.7 9.9 17.5 11.5 3.4 10.9 8.4 7.8 6.9 5.4 8.7 17.2 28.9 23.6 0.8 9.7 7.9 10.3 20.5 17.4 1976 1977 1978 1979 1980 10.8 12.8 13.8 12.2 9.5 15.6 11.0 9.2 5.8 11.8 9.6 13.3 15.0 13.7 9.0 11.4 15.5 16.8 15.2 8.6 12.7 16.5 17.3 16.2 11.0 10.6 15.5 17.4 13.8 0.6 8.4 12.5 13.2 13.6 10.0 7.4 12.0 11.6 11.1 8.3 8.4 8.4 15.4 9.0 6.9 9.0 18.9 22.1 22.1 14.5 21.5 11.6 18.6 9.5 14.0 1981 1982 1983 1984 1985 10.4 10.1 12.0 14.7 15.7 11.6 19.7 18.9 16.9 16.5 10.1 7.9 10.2 14.1 15.4 7.7 5.6 11.2 12.6 15.8 7.3 4.8 10.3 11.3 14.1 5.0 4.6 12.8 18.3 15.9 12.8 9.2 9.0 16.2 11.4 13.5 9.0 8.0 16.6 12.6 8.0 11.2 11.4 11.4 31.8 18.2 13.6 13.4 17.9 19.4 11.9 7.2 8.2 3.6 0.5 1986 1987 1988 1989 1990 11.9 9.0 9.1 7.3 6.5 13.6 8.0 8.0 7.0 11.0 11.4 9.3 9.4 7.4 5.2 11.5 10.5 9.9 9.4 7.2 13.7 13.5 11.8 11.1 9.0 9.0 4.6 6.3 6.0 1.5 11.4 7.6 9.8 6.0 3.4 13.8 8.7 10.9 7.1 5.4 10.9 12.0 6.4 5.6 5.0 26.2 18.2 13.2 10.5 8.8 4.1 2.6 3.0 4.0 9.0 1991 1992 1993 1994 1995 4.3 4.6 4.9 4.5 5.4 11.1 10.9 8.3 4.7 4.1 2.2 2.6 3.7 4.5 5.9 5.1 5.3 6.0 7.4 7.4 6.9 6.5 5.4 5.7 5.1 -1.3 0.8 7.3 14.5 14.1 -2.3 -0.2 0.4 3.7 7.2 -2.1 1.0 1.4 4.9 8.5 8.6 2.2 6.0 -4.0 -4.6 6.5 8.8 9.7 14.0 11.9 5.2 7.9 21.9 -3.6 20.9 1996 1997 1998 1999 2000 5.3 5.6 6.7 6.7 5.0 4.0 0.6 -1.4 -1.9 -8.0 5.8 7.3 9.4 9.3 8.5 6.9 6.2 8.2 8.4 8.4 6.7 6.6 9.1 9.2 8.3 7.9 4.3 5.4 7.1 9.3 6.3 9.2 11.3 11.5 10.0 6.4 9.7 11.6 11.8 10.2 -0.6 5.3 7.2 4.4 2.2 12.8 13.6 19.7 16.5 10.7 19.5 13.2 7.1 4.3 14.1 1996 -- Q1 Q2 Q3 Q4 5.9 5.4 5.3 4.3 5.9 3.0 4.4 2.5 5.9 6.3 5.7 5.0 7.5 7.5 6.6 5.4 7.4 6.7 6.2 5.8 10.1 9.7 6.8 4.2 6.0 6.9 6.8 4.7 6.3 7.2 6.5 4.7 -1.8 -1.3 -3.2 3.9 9.5 16.3 10.1 12.9 13.6 10.6 27.1 21.8 1997 -- Q1 Q2 Q3 Q4 5.0 4.9 6.1 5.8 1.8 -0.4 1.3 -0.2 6.1 6.7 7.8 7.9 6.7 5.8 7.0 4.7 6.6 5.6 9.0 4.5 5.2 4.6 3.9 3.4 6.6 8.4 9.0 11.7 6.4 8.6 9.8 12.8 1.6 4.3 7.1 7.7 8.1 13.8 12.7 17.2 6.2 13.8 21.4 9.4 1998 -- Q1 Q2 Q3 Q4 7.2 7.0 5.8 6.2 -0.5 -0.5 -2.9 -1.6 9.8 9.4 8.5 8.7 8.7 7.2 7.8 8.1 9.9 7.3 8.5 9.5 4.7 4.9 6.1 5.3 11.3 12.4 10.0 9.9 12.2 13.5 9.5 9.4 8.4 7.5 6.0 6.0 17.3 18.2 18.4 19.7 17.7 16.2 -1.7 -4.0 1999 -- Q1 Q2 Q3 Q4 7.8 5.5 7.1 5.8 -2.3 -2.6 -2.0 -0.8 10.9 7.9 9.7 7.6 9.1 7.9 8.9 6.8 9.2 9.2 9.8 7.5 9.8 4.5 5.5 7.8 13.7 8.8 11.8 9.7 15.5 8.6 11.9 9.3 7.3 3.5 4.3 2.2 18.4 15.3 15.6 13.1 4.8 -3.6 12.4 3.4 2000 -- Q1 Q2 Q3 Q4 5.5 5.5 4.5 4.2 -5.9 -11.3 -6.4 -9.6 8.5 9.8 7.2 7.5 7.9 9.2 8.0 7.2 7.1 9.5 8.3 7.4 10.2 9.4 8.2 8.1 10.7 12.2 7.3 8.4 11.4 12.5 7.1 8.4 1.0 1.5 1.9 4.2 7.9 11.4 9.8 12.0 17.3 7.1 15.1 14.3 2001 -- Q1 Q2 5.5 5.6 -0.1 -6.4 6.7 8.3 7.8 9.2 7.8 11.4 10.1 4.5 5.4 7.2 4.8 7.3 7.8 8.4 10.5 8.8 1.2 0.5 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 18, 2001 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 Total mortgage credit Business Total Corporate State and local governments Domestic financial sectors Foreign 1966 1967 1968 1969 1970 67.3 78.2 90.6 88.9 91.3 3.6 12.9 12.5 -3.2 12.1 63.7 65.2 78.0 92.1 79.3 22.2 20.4 31.3 31.8 19.7 13.0 13.4 17.2 18.1 12.6 5.9 5.1 10.8 9.9 4.4 34.6 37.5 37.9 48.1 47.5 24.7 27.0 26.8 32.6 40.9 6.9 7.3 8.8 12.1 12.1 11.0 -1.3 12.4 27.6 16.2 1.9 3.9 2.7 3.2 2.8 1971 1972 1973 1974 1975 135.3 156.1 183.9 175.1 193.5 24.9 15.0 6.9 11.9 85.6 110.5 141.0 176.9 163.2 107.8 42.4 57.0 69.6 55.4 56.9 24.7 35.1 40.7 37.2 39.7 15.6 19.5 22.5 8.9 7.8 51.7 70.1 93.3 94.3 39.8 28.0 38.4 74.8 56.5 18.6 16.4 14.0 14.1 13.4 11.1 11.1 23.9 47.0 49.6 2.1 5.1 4.4 6.3 13.8 14.1 1976 1977 1978 1979 1980 244.8 321.2 390.7 391.9 343.7 69.2 56.3 52.5 35.8 77.4 175.6 264.8 338.2 356.1 266.3 84.4 128.4 159.9 169.0 109.7 58.9 86.5 105.6 115.7 91.6 22.0 35.4 46.0 42.7 2.3 72.7 116.6 138.8 160.5 134.4 42.2 72.8 79.1 84.3 69.7 18.5 19.9 39.4 26.6 22.2 23.5 53.6 74.7 91.1 73.2 20.5 13.5 24.0 15.0 24.2 1981 1982 1983 1984 1985 410.0 439.9 573.6 791.2 963.0 85.5 161.3 185.2 197.2 225.7 324.5 278.6 388.4 594.0 737.3 107.5 85.1 177.6 219.6 309.4 68.0 48.6 107.1 127.9 177.2 17.7 17.2 50.0 80.7 82.8 189.4 151.8 163.4 321.8 264.3 122.7 92.4 88.7 203.7 179.6 27.6 41.7 47.3 52.5 163.6 105.1 93.0 104.4 157.8 204.0 23.5 16.0 17.3 8.4 1.2 1986 1987 1988 1989 1990 845.3 719.0 787.6 687.5 657.0 216.0 143.9 155.1 146.4 246.9 629.3 575.1 632.5 541.2 410.1 262.1 266.5 273.2 287.3 240.3 199.8 224.3 217.0 229.0 207.3 54.4 30.4 43.4 44.2 11.9 293.0 218.1 305.3 203.8 122.6 222.5 159.4 220.1 156.5 128.8 74.2 90.4 54.0 50.1 47.2 328.8 290.6 250.2 225.0 211.6 9.7 6.3 7.4 10.2 23.9 1991 1992 1993 1994 1995 465.3 524.2 579.4 561.1 705.9 278.2 304.0 256.1 155.9 144.4 187.1 220.2 323.3 405.3 561.5 186.1 202.7 240.8 314.5 339.3 175.4 175.4 156.5 172.9 165.3 -10.7 6.1 58.4 124.9 138.9 -84.4 -6.6 16.3 137.0 273.7 -53.7 24.6 34.4 124.6 224.9 85.4 24.1 66.2 -46.2 -51.5 170.9 244.0 294.4 468.3 454.0 15.1 24.1 69.8 -13.9 78.5 1996 1997 1998 1999 2000 733.1 804.4 1023.5 1097.8 869.1 145.0 23.1 -52.6 -71.2 -295.9 588.1 781.3 1076.2 1169.1 1165.0 338.5 322.1 454.2 506.3 543.0 225.5 234.7 345.7 383.7 377.3 88.8 52.5 67.6 94.4 132.3 256.4 403.2 541.7 610.4 594.8 183.7 301.3 394.8 449.2 437.5 -6.8 56.1 80.3 52.3 27.2 545.7 653.8 1073.8 1077.3 810.1 88.4 71.8 43.4 27.9 96.0 1996 -- Q1 Q2 Q3 Q4 806.5 756.7 749.7 619.6 213.7 109.2 162.0 95.2 592.8 647.4 587.7 524.5 367.9 373.5 333.8 278.8 249.7 229.8 216.7 205.7 113.2 111.7 79.8 50.4 244.7 287.6 288.1 205.1 182.5 211.1 195.9 145.4 -19.8 -13.7 -34.2 40.6 406.8 714.3 461.0 600.8 61.7 49.6 130.4 111.8 1997 -- Q1 Q2 Q3 Q4 719.6 712.3 908.1 877.8 67.1 -15.0 48.4 -8.1 652.5 727.3 859.7 885.9 348.7 306.7 376.8 256.1 235.8 203.9 331.1 167.9 63.0 55.9 48.1 43.1 286.8 374.5 406.7 544.9 198.8 269.1 315.7 421.7 17.0 46.1 76.2 84.9 388.9 680.1 648.0 898.1 33.6 76.1 121.7 55.7 1998 -- Q1 Q2 Q3 Q4 1095.9 1082.5 915.5 1000.2 -19.8 -20.2 -109.6 -61.0 1115.7 1102.7 1025.1 1061.2 482.7 405.7 450.1 478.2 375.5 284.1 337.7 385.4 58.9 62.1 79.6 69.9 538.5 611.6 504.9 511.7 415.1 474.0 342.5 347.4 94.6 85.4 70.0 71.3 942.9 1031.2 1095.4 1225.8 107.9 103.1 -11.2 -26.3 1999 -- Q1 Q2 Q3 Q4 1274.3 918.6 1198.8 999.7 -85.1 -95.4 -74.3 -30.0 1359.4 1014.0 1273.1 1029.7 542.9 487.2 557.3 437.8 381.1 393.1 427.3 333.4 130.5 61.4 76.2 109.5 729.0 484.6 663.3 564.7 588.9 340.6 477.9 389.5 87.6 42.2 52.4 27.2 1200.1 1042.9 1104.7 961.4 31.5 -23.6 81.1 22.8 2000 -- Q1 Q2 Q3 Q4 949.6 967.5 801.3 758.0 -217.2 -408.7 -226.2 -331.3 1166.8 1376.2 1027.6 1089.4 516.6 612.7 544.4 498.4 321.8 438.9 391.9 356.7 145.3 137.9 122.5 123.7 637.2 745.2 459.4 537.2 487.7 550.8 322.9 388.5 12.9 18.2 23.8 53.7 601.2 884.8 777.9 976.7 117.4 50.6 108.7 107.4 2001 -- Q1 Q2 1001.1 1034.9 -4.3 -216.0 1005.4 1251.0 549.5 660.9 385.1 572.1 158.1 72.8 355.8 480.0 228.2 348.1 100.1 110.1 882.9 763.1 9.3 4.2 8 Z.1, September 18, 2001 D.3 Debt Outstanding by Sector 1 Billions of dollars; quarterly figures are seasonally adjusted Domestic nonfinancial sectors Nonfederal Households Home Consumer Total mortgage credit Total Corporate State and local governments Domestic financial sectors 339.1 376.6 413.8 462.0 512.3 232.1 259.1 285.1 317.8 361.1 110.0 117.4 126.1 138.3 150.3 72.9 71.6 84.0 111.5 127.8 39.5 43.3 46.1 49.2 52.1 149.2 168.8 193.0 201.9 207.0 563.3 633.3 725.9 819.8 861.4 389.1 427.5 492.1 548.1 568.5 166.7 180.7 194.8 208.2 219.4 138.9 162.8 209.8 258.3 260.4 56.6 61.1 67.4 81.2 95.6 524.0 610.5 716.0 833.3 934.5 229.0 264.4 310.4 353.1 355.4 931.5 1049.8 1184.2 1344.0 1474.5 608.1 682.6 757.2 840.7 906.6 237.8 256.2 295.6 322.2 344.4 283.9 337.8 412.5 504.9 578.1 116.0 129.4 157.6 172.9 197.2 1516.2 1586.6 1744.2 1956.2 2286.4 1007.2 1041.3 1128.5 1255.7 1458.2 373.1 390.3 440.3 521.0 603.8 1657.6 1806.1 1992.4 2317.2 2578.1 1023.0 1112.1 1223.7 1430.4 1606.7 372.1 413.8 461.1 513.6 677.9 682.4 778.1 882.7 1052.4 1257.3 220.7 212.6 229.8 238.0 239.3 6169.3 6727.8 7356.8 7915.0 8352.4 2546.9 2767.4 3057.6 3355.3 3624.7 1657.9 1840.2 2067.8 2295.1 2531.7 658.2 688.6 732.0 793.3 805.1 2870.2 3119.3 3404.2 3614.6 3735.4 1828.2 2018.7 2216.2 2379.7 2506.6 752.1 841.0 895.0 945.2 992.3 1593.6 1895.5 2145.8 2399.3 2615.8 241.0 247.4 254.8 265.0 288.9 2776.4 3080.3 3336.5 3492.3 3636.7 8536.2 8759.6 9097.7 9509.2 10070.7 3814.4 4017.1 4260.3 4574.5 4913.8 2710.6 2886.0 3044.9 3217.8 3383.0 794.5 800.6 859.0 983.9 1122.8 3644.1 3640.7 3669.4 3813.0 4086.7 2450.8 2477.0 2523.9 2655.0 2879.9 1077.7 1101.8 1167.9 1121.7 1070.2 2786.7 3046.3 3346.1 3822.1 4278.8 304.0 318.8 388.6 375.0 453.7 14440.6 15243.5 16267.0 17399.6 18287.7 3781.8 3804.9 3752.2 3681.0 3385.2 10658.8 11438.6 12514.8 13718.5 14902.6 5218.6 5540.9 5995.1 6501.7 7063.8 3574.9 3809.5 4155.2 4538.9 4916.2 1211.6 1264.1 1331.7 1426.2 1566.5 4376.8 4778.2 5319.9 5964.7 6559.4 3097.3 3396.9 3791.6 4275.2 4712.7 1063.4 1119.5 1199.8 1252.1 1279.3 4824.5 5445.2 6519.1 7596.3 8418.4 542.2 608.0 651.5 679.6 775.8 1996 -- Q1 Q2 Q3 Q4 13909.1 14098.3 14285.7 14440.6 3690.2 3717.5 3758.0 3781.8 10218.9 10380.8 10527.7 10658.8 5005.8 5065.5 5148.9 5218.6 3445.5 3469.2 3523.4 3574.9 1151.1 1179.0 1199.0 1211.6 4147.9 4253.5 4325.5 4376.8 2925.5 3012.0 3061.0 3097.3 1065.3 1061.8 1053.3 1063.4 4380.5 4559.0 4674.3 4824.5 469.1 481.5 514.1 542.2 1997 -- Q1 Q2 Q3 Q4 14620.5 14798.6 15024.0 15243.5 3798.5 3794.8 3806.9 3804.9 10822.0 11003.8 11217.2 11438.6 5306.0 5382.7 5476.9 5540.9 3633.8 3684.8 3767.5 3809.5 1227.3 1241.3 1253.3 1264.1 4448.2 4541.9 4642.0 4778.2 3146.8 3214.1 3291.5 3396.9 1067.7 1079.2 1098.2 1119.5 4921.7 5091.8 5220.7 5445.2 550.6 569.6 593.9 608.0 1998 -- Q1 Q2 Q3 Q4 15517.5 15788.1 16017.0 16267.0 3799.9 3794.9 3767.5 3752.2 11717.6 11993.2 12249.5 12514.8 5661.6 5763.0 5875.6 5995.1 3903.4 3974.4 4058.8 4155.2 1278.8 1294.4 1314.3 1331.7 4912.8 5065.7 5192.0 5319.9 3500.6 3619.1 3704.8 3791.6 1143.1 1164.5 1182.0 1199.8 5680.9 5938.7 6212.6 6519.1 635.0 660.7 657.9 651.5 1999 -- Q1 Q2 Q3 Q4 16587.3 16817.0 17149.6 17399.6 3731.0 3707.1 3688.5 3681.0 12856.4 13109.9 13461.1 13718.5 6131.1 6252.9 6392.3 6501.7 4250.5 4348.7 4455.6 4538.9 1364.4 1379.7 1398.8 1426.2 5503.6 5624.7 5823.5 5964.7 3940.3 4025.4 4177.8 4275.2 1221.7 1232.2 1245.3 1252.1 6819.1 7079.8 7356.0 7596.3 659.4 653.5 673.8 679.6 2000 -- Q1 Q2 Q3 Q4 17636.9 17878.8 18090.2 18287.7 3626.7 3524.6 3468.0 3385.2 14010.2 14354.3 14622.2 14902.6 6630.9 6784.1 6931.3 7063.8 4619.4 4729.1 4827.1 4916.2 1462.5 1497.0 1527.6 1566.5 6124.0 6310.3 6425.1 6559.4 4397.1 4534.8 4615.6 4712.7 1255.4 1259.9 1265.9 1279.3 7746.6 7967.8 8166.3 8418.4 709.0 721.7 748.8 775.8 2001 -- Q1 Q2 18538.0 18797.3 3384.1 3330.1 15153.9 15467.2 7201.2 7366.4 5012.5 5155.5 1606.0 1624.2 6648.4 6769.0 4769.8 4857.4 1304.3 1331.8 8639.2 8829.9 778.1 779.1 Total Federal government Total nonfederal 1966 1967 1968 1969 1970 1074.6 1152.6 1242.7 1332.0 1422.3 265.1 278.1 290.6 287.4 299.5 809.5 874.6 952.1 1044.6 1122.8 360.3 380.6 412.2 444.4 460.2 231.8 245.0 262.1 280.2 289.0 103.4 108.6 119.3 129.2 133.7 1971 1972 1973 1974 1975 1557.5 1713.5 1897.9 2072.3 2264.7 324.4 339.4 346.3 358.2 443.9 1233.1 1374.1 1551.6 1714.1 1820.8 503.1 560.1 630.8 686.1 740.1 313.1 348.2 388.1 425.1 464.7 1976 1977 1978 1979 1980 2508.3 2829.6 3214.5 3606.5 3957.9 513.1 569.4 621.9 657.7 735.0 1995.3 2260.2 2592.6 2948.9 3222.9 825.9 954.2 1112.8 1282.7 1404.0 1981 1982 1983 1984 1985 4366.4 4788.3 5364.8 6151.2 7132.3 820.5 981.8 1167.0 1364.2 1589.9 3545.9 3806.5 4197.8 4787.0 5542.5 1986 1987 1988 1989 1990 7975.1 8677.6 9461.7 10166.3 10850.6 1805.9 1949.8 2104.9 2251.2 2498.1 1991 1992 1993 1994 1995 11312.5 11839.9 12434.1 13001.5 13707.5 1996 1997 1998 1999 2000 1. Data shown are on an end-of-period basis and may differ from month-average statistics in the Board’s H.6 release. Business Foreign 9 Z.1, September 18, 2001 F.1 Total Net Borrowing and Lending in Credit Markets (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 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 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 1367.2 1530.0 2140.7 2203.1 1775.3 1668.1 1902.9 1687.9 1842.1 1893.2 1802.2 1 733.1 804.4 1023.5 1097.8 869.1 949.6 967.5 801.3 758.0 1001.1 1034.9 2 145.0 23.1 -52.6 -71.2 -295.9 -217.2 -408.7 -226.2 -331.3 -4.3 -216.0 3 588.1 781.3 1076.2 1169.1 1165.0 1166.8 1376.2 1027.6 1089.4 1005.4 1251.0 4 338.5 183.7 67.8 4.9 -6.8 322.1 301.3 95.7 6.2 56.1 454.2 394.8 138.9 8.0 80.3 506.3 449.2 155.7 5.5 52.3 543.0 437.5 146.0 11.3 27.2 516.6 487.7 135.7 13.8 12.9 612.7 550.8 184.7 9.7 18.2 544.4 322.9 129.3 7.2 23.8 498.4 388.5 134.2 14.5 53.7 549.5 228.2 121.3 6.3 100.1 660.9 348.1 125.4 6.5 110.1 5 6 7 8 9 10 Rest of the world 88.4 71.8 43.4 27.9 96.0 117.4 50.6 108.7 107.4 9.3 4.2 10 11 Financial sectors 545.7 653.8 1073.8 1077.3 810.1 601.2 884.8 777.9 976.7 882.9 763.1 11 12 13 14 15 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies 13.0 11.7 -0.7 2.0 46.1 29.5 -2.4 19.0 72.9 52.8 -4.8 24.9 67.2 41.8 -0.4 25.8 60.0 36.8 -0.0 23.2 78.3 70.2 -0.2 8.3 99.3 67.9 -0.3 31.7 43.4 13.6 -0.4 30.3 18.8 -4.5 0.7 22.7 148.3 52.9 -0.8 96.1 -15.6 -23.3 -2.4 10.1 12 13 14 15 16 17 Savings institutions Credit unions 25.5 0.1 19.7 0.1 52.2 0.6 48.0 2.2 27.3 0.0 57.5 -2.9 69.0 0.9 -37.9 1.1 20.4 1.0 62.5 -0.6 16.2 0.8 16 17 18 19 20 21 Life insurance companies Government-sponsored enterprises Federally related mortgage pools ABS issuers 1.1 90.4 141.0 150.8 0.2 98.4 114.6 202.2 0.7 278.3 192.6 321.4 0.7 318.2 273.8 223.4 -0.7 234.1 199.4 196.3 -0.7 104.9 119.5 175.0 -1.1 248.9 132.2 146.0 -0.3 278.1 236.7 156.2 -0.7 304.5 309.1 307.9 -2.4 262.3 170.3 289.8 0.1 264.7 406.5 171.8 18 19 20 21 22 23 24 25 26 Finance companies Mortgage companies REITs Brokers and dealers Funding corporations 45.9 4.1 11.9 -2.0 64.1 48.7 -4.6 39.6 8.1 80.7 43.0 1.6 62.7 7.2 40.7 62.4 0.2 6.3 -17.2 92.2 74.7 0.1 2.7 15.6 0.7 53.5 -3.0 11.5 44.4 -36.8 177.7 2.7 9.8 -0.7 -0.1 29.6 -0.3 -2.4 25.4 48.2 37.8 1.0 -8.1 -6.6 -8.5 -42.8 0.7 -6.1 -23.7 24.6 35.7 0.6 2.2 35.6 -155.5 22 23 24 25 26 1367.2 1530.0 2140.7 2203.1 1775.3 1668.1 1902.9 1687.9 1842.1 1893.2 1802.2 27 69.7 -29.7 86.3 189.2 -120.3 -227.3 133.4 -231.3 -155.8 -222.5 -63.2 28 109.4 -10.2 4.2 -33.7 -20.2 -12.7 3.0 0.1 -50.4 -16.0 18.1 134.5 141.5 -2.8 7.1 43.4 -137.1 9.7 -2.1 9.2 -283.0 56.5 -2.1 1.2 31.2 61.9 0.4 39.9 -160.1 -50.8 -4.0 -16.4 -136.4 -28.7 -2.7 12.1 -259.9 40.6 -4.8 1.5 13.3 -46.5 -5.2 -24.8 29 30 31 32 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 -7.2 414.4 5.1 311.3 13.5 254.2 5.8 208.8 7.3 279.3 6.5 315.2 7.7 197.9 4.5 216.2 10.6 387.8 4.6 410.8 9.4 344.0 33 34 35 Financial sectors 890.3 1243.3 1786.7 1799.2 1608.9 1573.7 1563.8 1698.6 1599.5 1700.3 1511.9 35 12.3 38.3 21.1 25.7 33.7 102.0 -5.4 39.1 -0.9 53.7 26.4 36 187.5 119.6 63.3 3.9 0.7 324.3 274.9 40.2 5.4 3.7 305.2 312.0 -11.9 -0.9 6.0 308.2 317.6 -20.1 6.2 4.4 358.4 339.8 24.0 -12.2 6.7 415.8 448.2 4.5 -42.2 5.4 497.4 510.9 -22.3 3.5 5.4 363.2 324.8 32.8 -6.7 12.3 157.0 75.3 81.1 -3.2 3.8 152.8 107.9 41.3 7.3 -3.6 158.4 179.7 -22.7 -2.8 4.2 37 38 39 40 41 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 19.9 25.5 -7.7 -4.7 16.8 -25.0 36.1 19.0 -12.8 68.6 27.5 27.8 56.5 30.5 17.1 55.6 35.7 18.9 65.0 31.6 13.8 62.7 21.2 17.6 42.5 33.6 18.1 52.5 3.9 10.7 56.2 24.6 13.4 42 43 44 45 46 47 48 Life insurance companies Other insurance companies Private pension funds State and local govt. retirement funds 69.6 22.5 -4.1 35.8 104.8 25.2 47.6 67.1 76.9 5.8 56.4 72.1 53.5 -3.0 45.0 46.9 57.9 -8.7 41.3 49.6 65.0 -11.2 46.8 63.3 52.9 -18.1 24.7 31.5 74.8 6.2 64.9 37.6 38.8 -11.7 28.7 66.1 95.3 2.1 26.1 13.3 101.2 2.8 20.2 17.7 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 88.8 48.9 4.6 97.4 141.0 120.5 87.5 80.9 -2.6 106.6 114.6 163.8 244.0 124.8 5.5 314.6 192.6 281.7 182.0 47.2 7.4 291.7 273.8 205.2 148.9 26.8 -8.4 240.9 199.4 166.4 161.5 -66.9 -8.4 205.4 119.5 154.2 -118.2 63.1 -8.4 250.9 132.2 111.4 256.1 50.1 -8.4 188.6 236.7 120.9 296.0 60.8 -8.4 318.8 309.1 278.9 303.4 69.4 -8.4 347.8 170.3 269.8 166.2 130.9 -8.4 302.4 406.5 159.4 49 50 51 52 53 54 55 56 57 58 59 Finance companies Mortgage companies REITs Brokers and dealers Funding corporations 18.4 8.2 4.4 -15.7 12.6 21.9 -9.1 20.2 14.9 50.4 51.9 3.2 -5.1 6.8 -12.9 94.9 0.3 -2.6 -34.7 133.8 99.4 0.2 -6.3 68.9 36.6 144.0 -6.0 -16.3 101.9 -7.2 138.9 5.5 -2.5 90.0 207.7 91.6 -0.5 -3.6 152.7 -72.9 23.1 2.0 -2.8 -69.0 19.0 -3.9 1.4 4.0 311.4 -175.3 85.5 1.1 1.1 13.8 -167.5 55 56 57 58 59 (1) Excludes corporate equities and mutual fund shares. 10 Z.1, September 18, 2001 F.2 Credit Market Borrowing by Nonfinancial Sectors Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 Q1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Domestic Q2 2001 Q3 Q4 Q1 Q2 733.1 804.4 1023.5 1097.8 869.1 949.6 967.5 801.3 758.0 1001.1 1034.9 1 Federal government Treasury securities Budget agency securities and mortgages 145.0 146.6 -1.6 23.1 23.2 -0.1 -52.6 -54.6 2.0 -71.2 -71.0 -0.2 -295.9 -294.9 -1.0 -217.2 -215.2 -2.1 -408.7 -410.5 1.8 -226.2 -223.8 -2.4 -331.3 -330.2 -1.2 -4.3 -2.1 -2.2 -216.0 -217.1 1.1 2 3 4 Nonfederal, by instrument Commercial paper Municipal securities and loans Corporate bonds Bank loans n.e.c. Other loans and advances 588.1 -0.9 2.6 116.3 70.5 33.5 781.3 13.7 71.4 150.5 106.5 69.1 1076.2 24.4 96.8 218.7 108.2 74.3 1169.1 37.4 68.2 229.9 82.7 60.6 1165.0 48.1 35.3 175.0 103.1 104.2 1166.8 29.8 20.0 186.2 139.5 147.1 1376.2 110.4 30.1 153.8 163.3 126.0 1027.6 56.1 31.0 184.4 50.2 18.4 1089.4 -4.0 60.1 175.6 59.4 125.2 1005.4 -207.2 106.9 403.7 -6.7 -12.5 1251.0 -141.5 113.9 423.7 -144.1 102.8 5 6 7 8 9 10 277.5 242.9 9.5 22.5 2.7 88.8 317.6 252.6 7.6 54.3 3.1 52.5 486.1 384.2 23.8 71.5 6.5 67.6 595.9 429.5 42.7 117.9 5.8 94.4 567.0 417.2 37.8 105.0 6.9 132.3 498.8 356.2 30.9 104.3 7.4 145.3 654.6 484.6 49.0 110.9 10.1 137.9 565.0 435.9 29.5 93.1 6.5 122.5 549.5 392.3 41.7 111.8 3.8 123.7 563.1 431.5 40.4 86.7 4.5 158.1 823.3 613.9 56.2 144.2 9.1 72.8 11 12 13 14 15 16 588.1 338.5 256.4 183.7 67.8 4.9 -6.8 781.3 322.1 403.2 301.3 95.7 6.2 56.1 1076.2 454.2 541.7 394.8 138.9 8.0 80.3 1169.1 506.3 610.4 449.2 155.7 5.5 52.3 1165.0 543.0 594.8 437.5 146.0 11.3 27.2 1166.8 516.6 637.2 487.7 135.7 13.8 12.9 1376.2 612.7 745.2 550.8 184.7 9.7 18.2 1027.6 544.4 459.4 322.9 129.3 7.2 23.8 1089.4 498.4 537.2 388.5 134.2 14.5 53.7 1005.4 549.5 355.8 228.2 121.3 6.3 100.1 1251.0 660.9 480.0 348.1 125.4 6.5 110.1 17 18 19 20 21 22 23 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 borrowing in U.S. 88.4 71.8 43.4 27.9 96.0 117.4 50.6 108.7 107.4 9.3 4.2 24 25 26 27 28 Commercial paper Bonds Bank loans n.e.c. Other loans and advances 11.3 67.0 9.1 1.0 3.7 61.4 8.5 -1.8 7.8 34.9 6.7 -6.0 16.3 16.8 0.5 -5.7 31.7 54.3 11.3 -1.3 57.8 44.7 15.4 -0.5 12.0 31.2 5.7 1.7 7.0 91.5 11.9 -1.7 50.1 49.6 12.2 -4.6 -25.4 33.3 13.0 -11.6 -5.6 36.0 -26.9 0.7 25 26 27 28 821.5 876.2 1066.9 1125.8 965.1 1067.0 1018.1 910.0 865.4 1010.4 1039.1 29 29 Domestic and foreign F.3 Credit Market Borrowing by Financial Sectors Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 2 3 4 5 6 7 8 9 10 11 12 By instrument 545.7 653.8 1073.8 1077.3 810.1 601.2 884.8 777.9 976.7 882.9 763.1 1 Federal government-related Govt.-sponsored enterprise securities Mortgage pool securities U.S. government loans 231.4 90.4 141.0 0.0 212.9 98.4 114.6 0.0 470.9 278.3 192.6 0.0 592.0 318.2 273.8 0.0 433.5 234.1 199.4 0.0 224.4 104.9 119.5 0.0 381.1 248.9 132.2 0.0 514.8 278.1 236.7 0.0 613.6 304.5 309.1 0.0 432.6 262.3 170.3 0.0 671.2 264.7 406.5 0.0 2 3 4 5 Private financial sectors Open market paper Corporate bonds Bank loans n.e.c. Other loans and advances Mortgages 314.4 92.2 173.8 12.6 27.9 7.9 440.9 166.7 210.5 13.2 35.6 14.9 602.9 161.0 296.9 30.1 90.2 24.8 485.3 176.2 211.2 -14.3 107.1 5.1 376.7 127.7 200.5 -0.3 42.5 6.2 376.7 114.6 165.0 3.1 87.0 7.0 503.7 136.7 227.7 10.2 119.2 10.0 263.1 106.5 192.1 -9.9 -31.6 6.0 363.1 153.2 217.4 -4.4 -4.8 1.8 450.3 -134.6 456.7 27.8 107.8 -7.5 91.8 -85.4 157.7 14.5 -11.0 16.0 6 7 8 9 10 11 545.7 653.8 1073.8 1077.3 810.1 601.2 884.8 777.9 976.7 882.9 763.1 12 By sector 13 14 15 16 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies 13.0 11.7 -0.7 2.0 46.1 29.5 -2.4 19.0 72.9 52.8 -4.8 24.9 67.2 41.8 -0.4 25.8 60.0 36.8 -0.0 23.2 78.3 70.2 -0.2 8.3 99.3 67.9 -0.3 31.7 43.4 13.6 -0.4 30.3 18.8 -4.5 0.7 22.7 148.3 52.9 -0.8 96.1 -15.6 -23.3 -2.4 10.1 13 14 15 16 17 18 Savings institutions Credit unions 25.5 0.1 19.7 0.1 52.2 0.6 48.0 2.2 27.3 0.0 57.5 -2.9 69.0 0.9 -37.9 1.1 20.4 1.0 62.5 -0.6 16.2 0.8 17 18 19 20 21 22 Life insurance companies Government-sponsored enterprises Federally related mortgage pools ABS issuers 1.1 90.4 141.0 150.8 0.2 98.4 114.6 202.2 0.7 278.3 192.6 321.4 0.7 318.2 273.8 223.4 -0.7 234.1 199.4 196.3 -0.7 104.9 119.5 175.0 -1.1 248.9 132.2 146.0 -0.3 278.1 236.7 156.2 -0.7 304.5 309.1 307.9 -2.4 262.3 170.3 289.8 0.1 264.7 406.5 171.8 19 20 21 22 23 24 25 26 27 Finance companies Mortgage companies REITs Brokers and dealers Funding corporations 45.9 4.1 11.9 -2.0 64.1 48.7 -4.6 39.6 8.1 80.7 43.0 1.6 62.7 7.2 40.7 62.4 0.2 6.3 -17.2 92.2 74.7 0.1 2.7 15.6 0.7 53.5 -3.0 11.5 44.4 -36.8 177.7 2.7 9.8 -0.7 -0.1 29.6 -0.3 -2.4 25.4 48.2 37.8 1.0 -8.1 -6.6 -8.5 -42.8 0.7 -6.1 -23.7 24.6 35.7 0.6 2.2 35.6 -155.5 23 24 25 26 27 11 Z.1, September 18, 2001 F.4 Credit Market Borrowing, All Sectors, by Instrument Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1 Total 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 1367.2 1530.0 2140.7 2203.1 1775.3 1668.1 1902.9 1687.9 1842.1 1893.2 1802.2 1 2 3 4 5 Open market paper U.S. government securities Municipal securities Corporate and foreign bonds 102.6 376.4 2.6 357.0 184.1 236.0 71.4 422.4 193.1 418.3 96.8 550.4 229.9 520.7 68.2 457.9 207.6 137.6 35.3 429.8 202.1 7.2 20.0 396.0 259.1 -27.6 30.1 412.7 169.7 288.6 31.0 468.0 199.3 282.2 60.1 442.6 -367.2 428.3 106.9 893.7 -232.5 455.2 113.9 617.4 2 3 4 5 6 7 8 9 Bank loans n.e.c. Other loans and advances Mortgages Consumer credit 92.1 62.5 285.3 88.8 128.2 102.8 332.5 52.5 145.0 158.5 510.9 67.6 68.9 162.0 601.0 94.4 114.1 145.3 573.2 132.3 158.0 233.6 505.9 145.3 179.2 246.9 664.6 137.9 52.2 -15.0 571.0 122.5 67.1 115.8 551.3 123.7 34.1 83.7 555.6 158.1 -156.5 92.5 839.4 72.8 6 7 8 9 231.8 181.8 102.8 146.3 149.1 387.7 163.4 211.3 -166.0 170.0 427.6 10 -5.8 -69.5 -83.3 -114.4 -171.8 -267.0 -42.1 -143.5 -94.8 -166.6 80.4 61.2 -68.7 -245.2 -68.1 -87.7 -322.7 -394.8 73.6 -33.9 143.8 -35.2 11 12 82.8 -19.2 237.6 57.6 -26.5 265.1 101.3 -6.1 274.6 114.4 -13.0 188.3 99.7 -27.9 243.9 62.6 -43.4 307.3 185.9 -9.3 232.0 61.1 -41.5 279.4 89.4 -17.4 156.7 109.2 -1.8 96.4 208.8 -29.9 283.8 13 14 15 Memo: Funds raised through corporate equities and mutual fund shares 10 11 12 13 14 15 Total net issues Corporate equities Nonfinancial Foreign shares purchased by U.S. residents Financial Mutual fund shares F.5 Net Increase in Liabilities and Its Relation to Net Acquisition of Financial Assets Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 2 3 4 5 Net flows through credit markets (from table F.4, line 1) Official foreign exchange SDR certificates Treasury currency Foreign deposits 1367.2 1530.0 2140.7 2203.1 1775.3 1668.1 1902.9 1687.9 1842.1 1893.2 1802.2 1 -6.3 -0.5 0.5 85.9 0.7 -0.5 0.5 107.7 6.6 0.0 0.6 6.5 -8.7 -3.0 1.0 61.0 -0.4 -4.0 2.4 120.8 1.5 0.0 2.2 313.3 -8.8 -8.0 3.2 3.4 0.7 -4.0 4.2 -40.8 4.9 -4.0 -0.0 207.4 -1.5 0.0 -1.1 235.5 4.7 0.0 1.1 -146.5 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 -51.6 15.7 97.2 114.0 145.4 -19.7 41.2 97.1 122.5 155.9 -32.3 47.4 152.4 92.1 287.2 17.6 151.4 44.7 130.6 249.1 -20.3 -71.5 190.7 118.4 233.3 -72.9 -206.8 104.6 154.1 239.7 151.9 -33.8 123.0 101.2 71.5 -170.6 5.0 224.5 152.9 250.9 10.6 -50.2 310.8 65.2 371.1 -202.4 90.3 288.3 130.6 621.4 177.0 101.0 193.1 65.9 322.5 6 7 8 9 10 11 12 13 14 Security RPs Corporate equities Mutual fund shares Trade payables 41.4 -5.8 237.6 123.3 120.9 -83.3 265.1 139.7 91.3 -171.8 274.6 109.2 169.7 -42.1 188.3 222.3 110.9 -94.8 243.9 156.4 275.0 80.4 307.3 193.5 155.2 -68.7 232.0 193.9 278.0 -68.1 279.4 132.8 -264.6 -322.7 156.7 105.4 11.2 73.6 96.4 -21.8 155.2 143.8 283.8 -10.1 11 12 13 14 15 16 17 18 Security credit Life insurance reserves Pension fund reserves Taxes payable 52.4 44.5 148.3 19.5 111.0 59.3 201.4 22.3 103.3 48.0 202.1 21.3 104.3 50.8 184.5 22.3 141.0 50.2 216.9 21.7 485.0 54.9 210.8 30.9 -91.4 45.6 260.8 31.8 94.7 53.0 227.1 -1.6 75.6 47.3 169.0 25.9 -64.6 52.7 255.6 0.6 -82.9 59.7 196.7 2.0 15 16 17 18 19 20 21 Investment in bank personal trusts Noncorporate proprietors’ equity Miscellaneous -5.3 -31.6 525.0 -49.9 -71.8 490.6 -41.8 -74.0 1002.5 -6.5 -49.1 738.1 -29.7 -30.7 992.3 -28.4 -48.6 999.5 -33.1 -28.8 1089.7 -29.2 -10.7 1283.9 -28.0 -34.9 595.9 -26.1 -29.3 570.9 -22.7 -13.0 932.1 19 20 21 2917.0 3240.6 4265.8 4429.2 4122.8 4764.2 4093.4 4350.2 3283.4 3973.5 4165.8 22 -0.4 59.6 -3.3 -0.2 106.2 -19.9 -0.1 -8.5 3.4 -0.7 45.8 3.5 -1.2 68.7 17.4 -1.8 262.7 25.3 -0.7 -81.9 5.4 0.9 -99.2 -12.1 -3.3 193.3 51.1 -3.6 178.2 16.7 -0.3 -108.3 12.9 23 24 25 2.4 23.1 -124.5 63.2 28.0 -126.4 60.6 19.7 -137.7 30.0 6.5 -373.6 110.9 14.1 -362.4 566.4 9.4 -417.8 52.0 10.0 -352.7 127.4 -7.5 -275.6 -302.3 44.5 -403.7 -141.4 1.7 -7.4 121.2 -26.9 -291.1 26 27 28 0.5 -4.0 -25.4 -2.7 -3.9 -29.2 2.6 -3.1 -51.3 -7.4 -0.8 42.9 9.0 1.7 -36.8 18.7 1.0 -72.1 16.3 1.4 -50.0 3.0 1.9 -49.4 -2.1 2.4 24.1 -29.8 3.8 26.7 13.8 3.9 -5.0 29 30 31 2989.2 3225.4 4380.3 4683.0 4301.5 4372.4 4493.7 4660.7 3679.4 3928.6 4445.6 32 22 Total financial sources 23 24 25 - Liabilities not identified as assets: Treasury currency Foreign deposits Net interbank liabilities 26 27 28 Security RPs Taxes payable Miscellaneous 29 30 31 - Floats not included in assets: Checkable deposits: Federal govt. Other Trade credit 32 Totals identified to sectors as assets 12 Z.1, September 18, 2001 F.6 Distribution of Gross Domestic Product (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 Q1 1 2 3 4 5 6 7 Gross Domestic Product (GDP) Personal consumption expenditures (2) Durable goods Nondurable goods Services Gross private domestic investment Fixed investment Q2 2001 Q3 Q4 Q1 Q2 7813.2 8318.4 8781.6 9268.6 9872.9 9668.6 9857.6 9937.5 10028.0 10141.6 10201.6 1 5237.5 5529.3 5856.0 6250.2 6728.4 6581.9 6674.9 6785.5 6871.4 6977.6 7047.4 2 616.5 1574.1 3047.0 642.5 1641.6 3245.2 693.2 1708.5 3454.3 760.9 1831.3 3657.9 819.6 1989.6 3919.2 820.7 1942.5 3818.7 813.8 1978.3 3882.8 825.4 2012.4 3947.7 818.7 2025.1 4027.5 838.1 2047.1 4092.4 844.9 2062.9 4139.6 3 4 5 1242.7 1390.5 1538.8 1636.8 1767.5 1708.9 1792.3 1788.4 1780.3 1722.7 1667.5 6 1212.7 1327.7 1465.6 1578.2 1718.1 1678.0 1717.0 1735.9 1741.6 1748.2 1704.2 7 8 9 10 11 12 13 Nonresidential Household sector (nonprofit organizations) Nonfinancial corporate business Nonfarm noncorporate business Farm business Financial corporations 899.5 44.7 659.5 57.7 23.8 113.8 999.4 55.6 710.2 48.9 27.5 157.2 1101.3 61.8 769.7 63.0 29.1 177.7 1174.6 62.8 872.6 101.6 26.9 110.7 1293.1 69.2 949.8 132.2 29.0 112.9 1250.9 66.3 926.1 117.2 28.3 113.0 1288.3 68.4 937.4 134.4 29.5 118.5 1314.9 70.6 974.1 123.6 29.3 117.2 1318.2 71.5 961.5 153.4 28.7 103.0 1311.2 72.6 967.7 124.8 31.0 115.3 1258.9 71.9 928.9 132.6 28.0 97.6 8 9 10 11 12 13 14 15 16 17 18 Residential Household sector Nonfinancial corporate business Nonfarm noncorporate business REITs 313.3 263.0 2.4 43.4 4.4 328.3 275.0 2.7 39.3 11.3 364.4 310.5 2.7 39.7 11.4 403.6 344.5 3.0 54.4 1.6 425.1 364.8 3.2 57.0 0.1 427.1 365.9 3.2 57.3 0.7 428.7 366.8 3.2 57.5 1.2 421.0 360.7 3.2 56.5 0.6 423.4 365.7 3.2 56.8 -2.3 437.0 374.5 3.3 58.6 0.6 445.3 384.8 3.3 59.7 -2.6 14 15 16 17 18 30.0 21.0 1.1 7.9 62.9 57.0 3.0 2.9 73.1 68.6 3.6 0.9 58.6 57.1 3.0 -1.5 49.4 48.6 2.6 -1.8 30.9 35.5 1.9 -6.5 75.3 70.3 3.7 1.3 52.5 52.5 2.8 -2.8 38.7 35.9 1.9 0.9 -25.5 -24.9 -1.3 0.7 -36.7 -33.8 -1.8 -1.1 19 20 21 22 19 20 21 22 Change in private inventories Nonfinancial corporate business Nonfarm noncorporate business Farm business 23 Net U.S. exports of goods and services -89.0 -89.4 -151.7 -250.9 -364.0 -333.9 -350.7 -380.7 -390.6 -363.8 -350.5 23 24 25 Exports - Imports 874.2 963.1 966.4 1055.8 964.9 1116.7 989.8 1240.7 1102.9 1466.9 1059.7 1393.6 1099.7 1450.4 1131.1 1511.8 1121.0 1511.6 1117.4 1481.2 1079.3 1429.8 24 25 26 Government consumption expenditures and gross investment 1422.0 1488.0 1538.5 1632.6 1741.0 1711.7 1741.1 1744.3 1766.9 1805.1 1837.2 26 1171.8 445.3 726.5 1223.3 456.9 766.5 1261.4 453.1 808.3 1327.9 469.6 858.3 1422.8 493.7 929.0 1390.6 483.4 907.2 1426.1 503.8 922.3 1430.2 493.6 936.6 1444.1 494.1 950.0 1474.2 507.5 966.7 1491.0 509.8 981.2 27 28 29 250.2 86.3 163.8 264.7 81.4 183.3 277.1 86.1 191.0 304.6 94.5 210.2 318.3 96.5 221.8 321.1 95.1 226.0 315.0 97.2 217.8 314.1 93.5 220.6 322.8 100.1 222.7 330.9 97.8 233.1 346.2 100.0 246.2 30 31 32 18.1 245.6 227.5 7.1 281.3 274.3 -3.5 286.1 289.6 -6.8 313.8 320.6 -12.1 384.2 396.3 -18.0 360.1 378.1 -16.6 387.9 404.5 -18.1 386.6 404.7 4.2 402.1 397.9 -10.5 378.9 389.4 -18.9 350.4 369.3 33 34 35 7831.3 8325.5 8778.1 9261.9 9860.8 9650.6 9841.0 9919.4 10032.2 10131.1 10182.7 36 27 28 29 Consumption expenditures (3) Federal State and local 30 31 32 Gross investment (3) Federal State and local Memo: 33 34 35 Net U.S. income receipts from rest of the world U.S. income receipts - U.S. income payments 36 Gross National Product (GNP) = GDP + net U.S. income receipts (1) This table corresponds to NIPA table 1.1 in the Survey of Current Business, Department of Commerce. (2) Component of personal outlays, found on table F.100, line 4. (3) Government inventory investment is included in consumption expenditures. 13 Z.1, September 18, 2001 F.7 Distribution of National Income (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1 2 3 4 5 National Income Compensation of employees Wages and other labor income Employer social insurance contributions Wage accruals less disbursements 9 Proprietors’ income with inventory valuation and capital consumption adjustments Nonfarm Farm Rental income of persons (with capital consumption adjustment) 10 Corporate profits with inventory valuation and capital consumption adjustments 6 7 8 11 Corporate profits with inventory valuation adjustment 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 6210.2 6618.5 7041.6 7462.1 7980.9 7796.4 7955.9 8047.1 8124.0 8169.7 8212.4 1 4395.4 4116.4 275.4 3.6 4651.3 4364.3 290.0 -2.9 4989.8 4683.5 307.0 -0.7 5310.8 4981.9 323.7 5.2 5715.2 5371.3 343.9 0.0 5562.9 5225.6 337.3 0.0 5669.8 5328.0 341.8 0.0 5759.2 5413.6 345.6 0.0 5869.0 5518.1 350.9 0.0 5955.7 5598.7 357.0 0.0 6010.3 5651.6 358.7 0.0 2 3 4 5 544.8 510.5 34.3 581.2 551.5 29.7 623.8 598.2 25.6 672.0 645.4 26.6 715.0 684.4 30.6 697.5 671.0 26.5 717.9 685.4 32.5 719.2 687.6 31.6 725.2 693.5 31.7 735.2 705.4 29.8 745.7 717.0 28.7 6 7 8 129.7 128.4 138.6 147.7 141.6 144.9 141.4 138.3 141.7 139.6 140.8 9 754.0 833.8 777.5 825.2 876.4 870.2 892.7 895.1 847.5 789.8 761.3 10 729.4 800.9 739.5 773.4 833.0 821.0 847.2 854.7 809.1 753.8 729.7 11 12 13 14 15 16 Profits before tax Domestic nonfinancial Farm Foreign subsidiaries Financial 726.4 458.8 1.4 100.9 165.3 792.4 494.5 1.6 110.7 185.7 721.1 457.6 2.8 102.3 158.5 776.3 467.7 3.0 114.6 191.0 845.4 500.9 3.3 136.8 204.4 844.8 511.3 3.1 120.4 210.0 862.0 529.5 3.2 128.9 200.4 858.3 511.0 3.3 141.0 203.0 816.4 452.0 3.4 156.7 204.3 755.7 410.0 3.5 140.0 202.2 739.4 400.4 3.6 137.2 198.2 12 13 14 15 16 17 18 19 20 Less: Profits tax liability Domestic nonfinancial Farm Financial 223.7 149.6 0.5 73.6 237.2 157.9 0.5 78.9 238.9 154.1 0.5 84.3 253.0 170.4 0.5 82.1 271.5 186.0 0.6 84.9 277.0 190.0 0.6 86.4 280.4 196.6 0.6 83.2 274.9 189.7 0.6 84.6 253.5 167.7 0.5 85.3 236.8 152.0 0.5 84.3 231.0 148.4 0.5 82.1 17 18 19 20 21 22 23 24 25 26 Equals: Profits after tax Dividends Domestic nonfinancial Farm Foreign subsidiaries Financial 502.7 297.7 200.9 1.0 40.4 55.4 555.2 335.2 216.4 1.7 51.4 65.8 482.3 348.7 239.7 2.5 39.5 67.0 523.3 343.5 237.3 2.6 39.2 64.3 573.9 379.6 266.1 2.9 37.7 73.0 567.8 361.5 258.4 2.8 30.1 70.2 581.6 373.7 253.6 2.9 47.7 69.5 583.4 386.2 273.0 3.0 35.1 75.1 562.9 397.0 279.1 3.1 37.7 77.1 518.9 405.2 297.8 3.1 22.0 82.3 508.4 412.3 290.9 3.2 37.8 80.4 21 22 23 24 25 26 27 28 29 30 31 Undistributed profits Domestic nonfinancial Farm Foreign subsidiaries Financial 205.0 108.3 -0.1 60.5 36.4 220.0 120.2 -0.6 59.3 41.0 133.6 63.8 -0.2 62.8 7.3 179.8 60.0 -0.2 75.4 44.6 194.3 48.9 -0.2 99.1 46.6 206.3 62.8 -0.2 90.3 53.4 207.9 79.2 -0.2 81.2 47.7 197.2 48.2 -0.2 105.9 43.3 165.9 5.2 -0.2 119.0 41.9 113.7 -39.8 -0.1 118.0 35.6 96.1 -38.9 -0.1 99.4 35.7 27 28 29 30 31 32 Inventory valuation adjustment 3.1 8.5 18.4 -2.9 -12.4 -23.8 -14.8 -3.6 -7.3 -1.9 -9.7 32 33 34 35 36 Capital consumption adjustment Domestic nonfinancial Farm Financial 24.6 44.7 1.1 -21.2 32.9 50.0 1.1 -18.2 38.0 50.4 1.5 -13.9 51.7 60.8 1.7 -10.8 43.4 56.4 1.8 -14.9 49.2 60.1 1.8 -12.7 45.5 57.8 1.8 -14.1 40.4 54.4 1.9 -15.8 38.4 53.5 1.9 -17.0 36.0 51.3 1.9 -17.2 31.6 47.5 2.0 -17.9 33 34 35 36 386.3 423.9 511.9 506.5 532.7 520.9 534.1 535.3 540.6 549.4 554.3 37 6210.2 6618.5 7041.6 7462.1 7980.9 7796.4 7955.9 8047.1 8124.0 8169.7 8212.4 38 37 Net interest Memo: Calculation of Gross Domestic Product from National Income: (2) 38 National Income, from line 1 above 39 40 41 42 43 44 Plus: Business transfer payments to persons Business transfer payments to rest of the world Indirect business tax and nontax accruals Private consumption of fixed capital Government consumption of fixed capital Statistical discrepancy 26.4 8.1 620.0 782.0 174.3 33.0 27.9 8.9 646.2 832.4 181.0 29.7 28.7 9.3 681.3 884.3 187.7 -31.1 31.2 10.2 713.1 953.3 198.1 -72.8 33.1 10.9 762.7 1029.9 211.4 -130.4 32.4 10.9 749.4 998.6 206.5 -106.1 32.8 11.2 758.3 1019.0 209.9 -109.2 33.3 10.7 767.6 1041.2 213.1 -156.3 33.8 10.6 775.6 1060.9 215.9 -149.9 34.3 10.0 785.7 1081.3 218.6 -120.7 34.8 9.3 791.0 1114.8 221.4 -148.7 39 40 41 42 43 44 45 46 Less: Subsidies less current surplus of government enterprises Net U.S. income receipts from rest of the world 22.6 18.1 19.1 7.1 23.6 -3.5 33.3 -6.8 37.6 -12.1 37.5 -18.0 36.9 -16.6 37.3 -18.1 38.7 4.2 47.8 -10.5 52.3 -18.9 45 46 47 Equals: Gross Domestic Product 7813.2 8318.4 8781.6 9268.6 9872.9 9668.6 9857.6 9937.5 10028.0 10141.6 10201.6 47 (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 Z.1, September 18, 2001 F.8 Gross Saving and Investment (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1 2 3 4 5 6 7 8 9 10 11 Gross saving 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 1349.1 1502.3 1647.3 1707.5 1785.6 1736.3 1799.1 1807.4 1799.6 1754.1 1746.4 1 1290.3 1343.8 1375.1 1348.0 1322.9 1283.7 1345.6 1329.6 1332.6 1307.9 1314.3 2 Personal saving 272.1 252.9 301.5 160.8 67.6 53.4 88.0 54.4 74.7 78.8 81.5 3 Undistributed corporate profits Nonfinancial corp. inventory valuation adjustment Corporate capital consumption adjustment Private consumption of fixed capital Corporate Noncorporate Wage accruals less disbursements 205.0 3.1 24.6 782.0 543.5 238.5 3.6 220.0 8.5 32.9 832.4 581.6 250.9 -2.9 133.6 18.4 38.0 884.3 620.2 264.2 -0.7 179.8 -2.9 51.7 953.3 669.2 284.1 5.2 194.3 -12.4 43.4 1029.9 727.1 302.9 0.0 206.3 -23.8 49.2 998.6 703.6 295.0 0.0 207.9 -14.8 45.5 1019.0 719.1 299.9 0.0 197.2 -3.6 40.4 1041.2 736.0 305.2 0.0 165.9 -7.3 38.4 1060.9 749.7 311.3 0.0 113.7 -1.9 36.0 1081.3 763.8 317.5 0.0 96.1 -9.7 31.6 1114.8 782.8 332.0 0.0 4 5 6 7 8 9 10 Gross private saving 58.8 158.6 272.3 359.5 462.7 452.6 453.5 477.8 467.0 446.2 432.1 11 12 13 14 Federal Consumption of fixed capital Current surplus or deficit (-), NIPA -51.6 85.3 -136.9 33.4 86.8 -53.4 132.0 88.2 43.8 210.9 91.7 119.2 314.9 96.4 218.5 307.7 94.9 212.8 304.8 95.9 208.9 326.9 97.0 229.9 320.3 97.9 222.4 303.7 98.4 205.3 288.8 99.5 189.3 12 13 14 15 16 17 State and local Consumption of fixed capital Current surplus or deficit (-), NIPA 110.4 89.0 21.4 125.1 94.2 31.0 140.2 99.5 40.8 148.6 106.4 42.2 147.8 114.9 32.9 144.9 111.6 33.3 148.7 114.0 34.7 150.9 116.1 34.8 146.7 118.0 28.7 142.5 120.2 22.3 143.3 121.9 21.4 15 16 17 1382.2 1532.1 1616.2 1634.7 1655.2 1630.2 1689.9 1651.1 1649.7 1633.4 1597.7 18 1242.7 1390.5 1538.8 1636.8 1767.5 1708.9 1792.3 1788.4 1780.3 1722.7 1667.5 19 18 19 Gross government saving Gross investment Gross private domestic investment 20 Fixed investment 1212.7 1327.7 1465.6 1578.2 1718.1 1678.0 1717.0 1735.9 1741.6 1748.2 1704.2 20 21 22 Nonresidential Residential 899.5 313.3 999.4 328.3 1101.3 364.4 1174.6 403.6 1293.1 425.1 1250.9 427.1 1288.3 428.7 1314.9 421.0 1318.2 423.4 1311.2 437.0 1258.9 445.3 21 22 23 Change in private inventories 30.0 62.9 73.1 58.6 49.4 30.9 75.3 52.5 38.7 -25.5 -36.7 23 24 Gross government investment 250.2 264.7 277.1 304.6 318.3 321.1 315.0 314.1 322.8 330.9 346.2 24 25 Net foreign investment in U.S. -110.7 -123.1 -199.7 -306.7 -430.5 -399.8 -417.4 -451.4 -453.4 -420.2 -416.0 25 33.0 29.7 -31.1 -72.8 -130.4 -106.1 -109.2 -156.3 -149.9 -120.7 -148.7 26 26 Statistical discrepancy (line 18 less line 1) (1) This table corresponds to NIPA table 5.1 in the Survey of Current Business, Department of Commerce. F.9 Net Capital Transfers (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Capital transfers received by government (net) 23.1 26.8 32.4 32.4 36.2 37.0 36.2 35.8 35.8 38.4 37.1 1 -10.7 -8.4 -3.6 -7.3 -7.9 -6.3 -7.7 -8.1 -9.7 -8.9 -12.6 2 2 Federal 3 4 5 6 Estate and gift taxes paid by persons - Capital transfers paid to the rest of the world (net) - Federal investment grants to state and local govts. - Investment grants to business 17.5 0.0 28.1 0.0 20.6 0.2 28.8 0.0 25.2 0.0 28.8 0.0 28.8 4.2 31.9 0.0 28.1 0.0 36.0 0.0 29.1 0.0 35.3 0.0 28.2 0.0 35.9 0.0 27.7 0.1 35.7 0.0 27.6 0.0 37.3 0.0 30.1 0.0 38.9 0.0 28.7 0.0 41.3 0.0 3 4 5 6 7 State and local 33.8 35.3 36.0 39.7 44.1 43.2 43.9 43.9 45.5 47.3 49.7 7 8 9 Estate and gift taxes paid by persons + Federal investment grants to state and local govts. 5.6 28.1 6.5 28.8 7.2 28.8 7.8 31.9 8.1 36.0 7.9 35.3 8.0 35.9 8.1 35.7 8.2 37.3 8.3 38.9 8.4 41.3 8 9 -0.1 -0.4 -0.7 3.5 -0.7 -0.7 -0.7 -0.7 -0.7 -0.7 -0.7 10 0.0 0.1 0.2 0.6 0.0 0.7 4.2 0.7 0.0 0.7 0.0 0.7 0.0 0.7 0.1 0.7 0.0 0.7 0.0 0.7 0.0 0.8 11 12 10 Capital transfers received by the rest of the world (net) 11 12 Capital transfers received from U.S. government (net) - Immigrants’ transfers received by persons (net) (1) This table corresponds to NIPA table 8.29 in the Survey of Current Business, Department of Commerce. 15 Z.1, September 18, 2001 F.10 Derivation of Measures of Personal Saving (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 1 Net acquisition of financial assets 597.3 554.7 767.2 640.3 495.6 533.8 623.5 531.9 293.1 540.4 728.1 1 2 3 4 5 Foreign deposits Checkable deposits and currency Time and savings deposits Money market fund shares 12.4 -51.5 156.2 52.7 6.5 -34.4 169.6 83.5 0.1 25.8 201.0 174.5 5.2 -57.2 121.7 134.5 7.7 -23.0 315.4 141.3 20.0 -6.7 316.1 211.1 0.2 -60.0 332.2 80.8 -2.6 4.4 348.7 73.5 13.3 -29.9 264.7 200.0 -6.0 80.1 311.5 281.0 -16.0 83.2 261.7 -16.6 2 3 4 5 6 Securities 117.8 -49.3 -50.3 16.1 -403.0 -568.6 -137.9 -327.0 -578.4 -501.1 77.9 6 6.7 58.7 -21.8 71.4 -192.6 195.5 1.5 -147.3 53.0 77.2 -293.4 259.6 7.5 -153.9 17.8 83.5 -248.7 243.4 4.0 78.0 40.4 16.5 -264.4 141.7 5.0 -170.3 14.7 2.0 -484.1 229.8 5.0 -293.8 30.6 -38.4 -558.9 286.8 5.0 -160.9 -6.0 175.8 -367.5 215.6 5.0 -114.6 34.3 -92.2 -430.7 271.1 5.0 -112.0 -0.3 -37.3 -579.5 145.6 -22.0 -531.5 56.4 226.2 -297.6 67.4 -18.0 158.7 24.7 -163.4 -203.9 280.0 7 8 9 10 11 12 7 8 9 10 11 12 Open market paper U.S. government securities Municipal securities Corporate and foreign bonds Corporate equities (2) Mutual fund shares 13 14 Life insurance reserves Pension fund reserves 44.5 148.3 59.3 201.4 48.0 202.1 50.8 184.5 50.2 216.9 54.9 210.8 45.6 260.8 53.0 227.1 47.3 169.0 52.7 255.6 59.7 196.7 13 14 15 16 Investment in bank personal trusts Miscellaneous and other assets -5.3 122.1 -49.9 168.1 -41.8 207.9 -6.5 191.2 -29.7 219.6 -28.4 324.5 -33.1 134.9 -29.2 184.0 -28.0 235.2 -26.1 92.6 -22.7 104.0 15 16 17 18 19 20 21 Gross investment in tangible assets Residential fixed investment Other fixed assets (3) Consumer durables Inventories (3) 1041.0 306.4 126.2 599.4 9.0 1103.6 314.2 132.0 651.5 5.9 1217.8 350.2 153.9 709.2 4.5 1351.0 398.9 191.3 759.4 1.5 1472.6 421.8 230.4 819.7 0.8 1451.1 423.2 211.8 820.7 -4.6 1475.5 424.3 232.4 813.8 5.0 1466.1 417.2 223.5 825.4 -0.0 1497.6 422.5 253.7 818.7 2.8 1498.9 433.1 228.3 838.1 -0.6 1519.0 444.5 232.4 844.9 -2.9 17 18 19 20 21 22 23 24 25 Consumption of fixed capital Residential fixed investment Other fixed assets (3) Consumer durables 729.6 132.1 122.2 475.4 756.9 140.1 129.8 487.0 791.1 146.1 138.6 506.4 836.8 158.4 148.8 529.5 900.9 163.0 167.1 570.8 874.4 158.2 162.7 553.5 891.5 161.3 165.4 564.8 910.2 164.7 168.5 577.1 927.3 167.7 171.6 588.0 944.7 170.8 174.6 599.3 976.2 175.9 182.4 617.9 22 23 24 25 26 Net investment in tangible assets (4) 311.4 346.7 426.7 514.3 571.7 576.7 584.0 555.9 570.3 554.2 542.8 26 174.4 4.0 124.1 9.0 174.1 2.2 164.5 5.9 204.1 15.3 202.8 4.5 240.5 42.4 229.9 1.5 258.8 63.3 248.8 0.8 265.0 49.1 267.2 -4.6 263.0 67.0 249.0 5.0 252.6 55.0 248.3 -0.0 254.8 82.1 230.7 2.8 262.3 53.7 238.8 -0.6 268.6 50.0 227.0 -2.9 27 28 29 30 502.3 566.1 738.9 835.0 789.0 970.1 848.3 759.8 577.6 582.1 849.2 31 241.9 29.1 88.8 4.5 15.8 122.1 252.4 31.7 52.5 3.2 36.8 189.4 382.8 86.4 67.6 0.1 21.6 180.3 427.4 102.3 94.4 -5.1 75.2 140.9 415.3 88.8 132.3 2.8 5.8 144.0 354.2 76.1 145.3 -1.3 217.9 177.9 482.4 114.9 137.9 3.6 -58.6 168.0 433.3 79.0 122.5 5.8 14.6 104.6 391.1 85.0 123.7 3.2 -150.9 125.5 428.0 82.3 158.1 4.0 -151.6 61.4 611.4 125.7 72.8 0.8 0.6 37.8 32 33 34 35 36 37 27 28 29 30 31 32 33 34 35 36 37 Residential fixed investment Other fixed assets (3) Consumer durables Inventories (3) Net increase in liabilities Mortgage debt on nonfarm homes Other mortgage debt (3) Consumer credit Policy loans Security credit Other liabilities (3) 38 Net capital transfers (5) -23.0 -26.4 -31.7 -35.9 -35.5 -36.3 -35.4 -35.1 -35.1 -37.6 -36.3 38 39 Personal saving, with consumer durables (FOF) 429.4 361.8 486.6 355.4 313.8 176.6 394.7 363.1 320.9 550.2 458.0 39 40 Less net investment in consumer durables 124.1 164.5 202.8 229.9 248.8 267.2 249.0 248.3 230.7 238.8 227.0 40 41 = Personal saving, without consumer durables (FOF) (6) 305.4 197.3 283.8 125.5 65.0 -90.6 145.7 114.8 90.2 311.4 231.0 41 42 Personal saving (NIPA, excludes consumer durables) 272.1 252.9 301.5 160.8 67.6 53.4 88.0 54.4 74.7 78.8 81.5 42 43 Difference 33.2 -55.7 -17.7 -35.3 -2.6 -144.0 57.7 60.3 15.5 232.6 149.5 43 44 Memo: Disposable personal income 5677.7 5968.2 6355.6 6618.0 7031.0 6859.1 6993.7 7081.3 7189.8 7295.0 7367.1 44 45 46 47 48 Personal saving as a percentage of disposable personal income: With consumer durables (FOF) (line 39) Without consumer durables (FOF) (line 41) Without consumer durables (NIPA) (line 42) Difference (line 43) 7.6 5.4 4.8 0.6 6.1 3.3 4.2 -0.9 7.7 4.5 4.7 -0.3 5.4 1.9 2.4 -0.5 4.5 0.9 1.0 -0.0 2.6 -1.3 0.8 -2.1 5.6 2.1 1.3 0.8 5.1 1.6 0.8 0.9 4.5 1.3 1.0 0.2 7.5 4.3 1.1 3.2 6.2 3.1 1.1 2.0 45 46 47 48 (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 12), life insurance and pension reserves (lines 13 and 14), and bank personal trusts (line 15). (3) Includes corporate farms. (4) Line 17 less line 22. (5) Table F.9, line 12 less lines 3 and 8. (6) Line 41 and 42 are conceptually equivalent but measure saving using different data. Line 41 is net acquisition of financial assets (line 1) plus net investment in tangible assets net of consumer durables (line 26 less line 40) less net increase in liabilities (line 31) less net capital transfers (line 38). Line 42 is disposable personal income (line 44) less personal outlays (table F.100, line 4). 16 Z.1, September 18, 2001 F.100 Households and Nonprofit Organizations (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1 2 3 4 5 Personal income - Personal taxes and nontax payments = Disposable personal income - Personal outlays = Personal saving, NIPA (2) 6 7 8 9 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 6547.4 869.7 5677.7 5405.6 272.1 6937.0 968.8 5968.2 5715.3 252.9 7426.0 1070.5 6355.6 6054.1 301.5 7777.3 1159.3 6618.0 6457.2 160.8 8319.1 1288.2 7031.0 6963.3 67.6 8104.4 1245.3 6859.1 6805.7 53.4 8271.0 1277.3 6993.7 6905.7 88.0 8381.5 1300.2 7081.3 7026.9 54.4 8519.6 1329.8 7189.8 7115.1 74.7 8640.2 1345.2 7295.0 7216.2 78.8 8718.1 1351.0 7367.1 7285.6 81.5 1 2 3 4 5 + Government insurance and pension reserves (3) + Net investment in consumer durables + Consumption of fixed capital + Net capital transfers (4) 3.4 124.1 596.6 -23.0 3.4 164.5 615.4 -26.4 4.4 202.8 642.8 -31.7 3.8 229.9 677.1 -35.9 1.8 248.8 730.0 -35.5 0.3 267.2 707.8 -36.3 2.7 249.0 722.2 -35.4 0.8 248.3 738.0 -35.1 3.3 230.7 751.9 -35.1 2.8 238.8 766.4 -37.6 6.9 227.0 790.1 -36.3 6 7 8 9 10 = Gross saving and net capital transfers 973.2 1009.8 1119.9 1035.8 1012.7 992.4 1026.5 1006.3 1025.5 1049.1 1069.2 10 11 Gross investment 1002.0 950.2 1096.4 995.2 1006.7 846.6 1079.9 1064.3 1036.1 1277.1 1209.9 11 12 13 14 15 Capital expenditures Residential Consumer durable goods Nonprofit nonresidential 907.2 263.0 599.4 44.7 982.0 275.0 651.5 55.6 1081.4 310.5 709.2 61.8 1166.6 344.5 759.4 62.8 1253.6 364.8 819.7 69.2 1252.9 365.9 820.7 66.3 1249.1 366.8 813.8 68.4 1256.7 360.7 825.4 70.6 1255.9 365.7 818.7 71.5 1285.2 374.5 838.1 72.6 1301.6 384.8 844.9 71.9 12 13 14 15 16 Net financial investment 94.8 -31.8 15.0 -171.5 -246.9 -406.3 -169.1 -192.4 -219.9 -8.1 -91.7 16 17 Net acquisition of financial assets 458.0 336.2 498.1 418.1 307.9 332.5 392.7 371.6 134.8 393.4 574.8 17 18 19 20 21 Foreign deposits Checkable deposits and currency Time and savings deposits Money market fund shares 12.4 -70.8 152.6 50.5 6.5 -56.9 158.8 79.9 0.1 -8.3 191.9 164.9 5.2 -81.4 111.7 124.5 7.7 -47.4 311.4 131.3 20.0 -30.8 312.1 209.1 0.2 -102.6 324.5 80.1 -2.6 -11.0 347.5 57.8 13.3 -45.1 261.6 178.3 -6.0 60.7 306.5 253.0 -16.0 62.8 256.3 -44.6 18 19 20 21 22 Credit market instruments 109.4 -20.2 -50.4 141.5 -137.1 -283.0 31.2 -160.1 -136.4 -259.9 13.3 22 6.7 53.5 -45.4 2.0 -47.5 99.0 -22.2 71.4 0.1 1.5 -151.4 -162.4 -0.5 -161.9 11.0 52.5 77.2 0.1 7.5 -160.1 -85.2 0.1 -85.4 -74.8 17.8 83.5 0.9 4.0 81.1 -14.3 -0.2 -14.1 95.4 40.2 16.5 -0.3 5.0 -160.1 -164.3 -1.7 -162.6 4.2 14.5 2.0 1.5 5.0 -283.6 -239.6 -3.5 -236.1 -44.0 30.4 -38.4 3.5 5.0 -145.9 -239.3 -2.1 -237.3 93.5 -6.2 175.8 2.4 5.0 -108.1 -139.2 -0.9 -138.3 31.2 34.1 -92.2 1.0 5.0 -102.9 -38.9 -0.3 -38.6 -64.0 -0.5 -37.3 -0.7 -22.0 -520.5 -83.2 1.4 -84.6 -437.3 56.2 226.2 0.2 -18.0 169.7 -4.9 5.3 -10.2 174.6 24.5 -163.4 0.5 23 24 25 26 27 28 29 30 31 -192.6 195.5 35.3 44.5 148.3 -5.3 -31.6 9.7 -293.4 259.6 52.6 59.3 201.4 -49.9 -71.8 10.3 -248.7 243.4 61.2 48.0 202.1 -41.8 -74.0 9.7 -264.4 141.7 47.2 50.8 184.5 -6.5 -49.1 12.4 -484.1 229.8 84.9 50.2 216.9 -29.7 -30.7 4.7 -558.9 286.8 182.9 54.9 210.8 -28.4 -48.6 5.5 -367.5 215.6 -49.6 45.6 260.8 -33.1 -28.8 16.3 -430.7 271.1 51.0 53.0 227.1 -29.2 -10.7 8.4 -579.5 145.6 155.1 47.3 169.0 -28.0 -34.9 -11.5 -297.6 67.4 13.2 52.7 255.6 -26.1 -29.3 3.2 -203.9 280.0 3.3 59.7 196.7 -22.7 -13.0 2.9 32 33 34 35 36 37 38 39 363.1 368.0 483.1 589.6 554.8 738.8 561.9 564.0 354.6 401.5 666.5 40 338.5 322.1 454.2 506.3 543.0 516.6 612.7 544.4 498.4 549.5 660.9 41 225.5 88.8 6.6 0.6 12.4 4.7 234.7 52.5 10.0 8.1 18.1 -1.2 345.7 67.6 12.0 6.3 13.3 9.4 383.7 94.4 10.4 -7.2 14.6 10.4 377.3 132.3 5.8 8.2 16.4 3.1 321.8 145.3 3.3 34.1 15.8 -3.7 438.9 137.9 10.2 -5.9 18.6 13.0 391.9 122.5 4.9 7.4 14.3 3.5 356.7 123.7 4.6 -2.8 16.8 -0.6 385.1 158.1 4.9 -18.1 19.3 0.2 572.1 72.8 0.9 -25.8 17.2 23.7 42 43 44 45 46 47 15.8 8.0 36.8 8.9 21.6 8.7 75.2 6.0 5.8 5.9 217.9 7.1 -58.6 7.0 14.6 5.6 -150.9 3.9 -151.6 6.9 0.6 4.7 48 49 0.8 0.3 -1.4 2.1 0.1 -2.9 0.8 -0.6 3.2 -3.3 0.2 50 -28.9 59.6 23.4 40.6 6.0 145.8 -53.4 -57.9 -10.6 -228.0 -140.7 51 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 51 Open market paper U.S. government securities Treasury Savings bonds Other Agency Municipal securities Corporate and foreign bonds Mortgages Corporate equities (5) 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 (6) 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 (1) Sector includes farm households. Supplementary tables (tables F.100.a and L.100.a) show estimates of annual flows and year-end outstandings of nonprofit organizations. (2) See table F.10 for derivation of alternative measures of personal saving. (3) Railroad Retirement Board and federal government life insurance reserves. (4) Table F.9, line 12 less lines 3 and 8. (5) Only directly held and those in closed-end funds. Other equities are included in mutual funds (line 33), life insurance and pension reserves (lines 35 and 36), and bank personal trusts (line 37). (6) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table F.218, line 24. 17 Z.1, September 18, 2001 F.101 Nonfinancial Business (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 1 Income before taxes 1062.8 1134.1 1140.7 1200.6 1274.2 1268.5 1305.7 1287.2 1235.6 1202.8 1204.2 1 2 Gross saving and net capital transfers 810.0 869.6 864.1 911.0 966.9 941.2 970.3 988.2 967.8 940.2 935.4 2 3 Gross investment 826.5 787.5 944.3 1008.5 1051.7 1036.9 1067.8 1060.1 1041.9 976.9 968.1 3 821.6 900.2 981.5 1118.8 1221.1 1163.0 1238.6 1239.9 1242.8 1160.1 1116.2 4 786.7 45.8 740.9 828.6 42.0 786.6 904.3 42.5 861.8 1058.5 57.4 1001.1 1171.1 60.2 1110.9 1132.1 60.5 1071.7 1162.1 60.7 1101.4 1186.7 59.6 1127.1 1203.6 60.0 1143.6 1185.3 61.9 1123.4 1152.6 63.1 1089.5 5 6 7 30.0 4.8 62.9 8.8 73.1 4.1 58.6 1.7 49.4 0.6 30.9 0.0 75.3 1.2 52.5 0.7 38.7 0.5 -25.5 0.3 -36.7 0.3 8 9 4 Capital expenditures 5 6 7 Fixed investment Residential Nonresidential 8 9 Change in inventories Access rights from federal government 10 4.9 -112.7 -37.1 -110.3 -169.4 -126.2 -170.8 -179.8 -200.9 -183.1 -148.1 10 11 Net acquisition of financial assets 498.6 282.1 759.0 798.4 704.6 975.2 856.7 643.4 343.2 318.6 287.0 11 12 13 14 15 16 Foreign deposits Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 10.5 56.1 4.2 9.9 1.5 -5.1 53.2 3.4 23.9 0.7 7.4 48.9 4.1 36.1 -0.4 -2.3 98.9 14.0 33.1 1.1 -3.9 54.3 2.9 50.4 -0.1 -23.6 101.5 -23.1 9.9 3.1 16.8 89.2 11.0 3.6 -7.7 53.0 41.1 5.3 79.0 -0.9 -61.7 -14.7 18.4 109.1 5.0 -23.9 -63.3 6.0 158.2 -2.2 -12.1 -17.9 6.4 140.6 -2.6 12 13 14 15 16 17 Credit market instruments -6.0 -9.7 2.2 4.3 7.6 54.4 62.3 -54.8 -31.4 35.8 -51.7 17 11.4 0.2 -5.4 -4.9 -7.3 4.6 -36.6 -3.1 24.3 1.2 3.3 5.5 -1.5 -1.1 -4.1 4.3 -5.2 -3.2 3.0 5.4 -0.4 -8.2 11.0 2.9 2.4 -6.1 8.1 6.5 2.9 43.0 -0.1 4.3 49.8 10.2 -1.8 7.5 -3.3 -34.6 -2.7 -21.8 -3.0 -42.0 22.4 1.2 -10.0 13.9 -8.8 -3.8 1.0 33.6 -10.3 -22.3 5.2 0.6 -24.9 18 19 20 21 22 3.3 117.6 301.4 -8.2 128.6 95.4 7.3 127.0 526.4 -1.8 159.2 492.0 -1.8 143.5 451.7 -1.8 226.9 627.9 -1.8 189.9 493.3 -1.8 124.7 397.8 -1.8 32.6 287.8 -1.8 -98.8 308.5 -1.8 -20.7 246.7 23 24 25 493.7 394.8 796.2 908.7 874.0 1101.4 1027.5 823.2 544.1 501.7 435.1 26 256.4 403.2 541.7 610.4 594.8 637.2 745.2 459.4 537.2 355.8 480.0 27 -0.9 3.1 116.3 13.7 4.2 150.5 24.4 5.8 218.7 37.4 5.1 229.9 48.1 1.4 175.0 29.8 2.2 186.2 110.4 0.1 153.8 56.1 1.0 184.4 -4.0 2.1 175.6 -207.2 2.3 403.7 -141.5 3.3 423.7 28 29 30 69.9 20.8 47.3 98.4 52.2 84.2 102.0 59.8 131.1 90.0 46.3 201.8 94.9 88.8 186.6 105.4 132.9 180.7 169.2 109.0 202.7 42.9 5.4 169.6 62.2 108.0 193.3 11.4 -32.2 177.9 -118.3 85.2 227.5 31 32 33 -69.5 81.4 14.5 254.9 -114.4 97.5 16.6 78.6 -267.0 81.5 15.6 505.1 -143.5 170.3 15.3 318.4 -166.6 115.4 14.5 375.1 61.2 140.7 25.0 315.3 -245.2 129.2 27.4 416.2 -87.7 126.5 -10.4 393.3 -394.8 65.2 15.9 375.7 -33.9 -33.3 -2.8 247.5 -35.2 -29.8 -5.7 69.0 34 35 36 37 -44.0 -86.7 -80.6 -62.2 -59.1 -78.0 -45.3 -57.9 -55.1 -31.6 -43.2 38 -16.6 82.1 -80.3 -97.5 -84.8 -95.6 -97.5 -71.9 -74.1 -36.7 -32.7 39 18 19 20 21 22 23 24 25 26 27 Net financial investment Commercial paper 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 31 32 33 Bank loans n.e.c. Other loans and advances Mortgages 34 35 36 37 38 39 Corporate equities Trade payables Taxes payable Miscellaneous liabilities Proprietors’ net investment Discrepancy (1) Combined statement for nonfarm nonfinancial corporate business, nonfarm noncorporate business, and farm business. 18 Z.1, September 18, 2001 F.102 Nonfarm Nonfinancial Corporate Business Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1 2 3 4 5 6 7 8 9 10 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 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) + Net capital transfers (1) = Total internal funds + IVA 458.8 149.6 200.9 504.2 612.5 60.5 3.1 0.0 676.0 494.5 157.9 216.4 539.7 659.9 59.3 8.5 0.0 727.6 457.6 154.1 239.7 569.6 633.4 62.8 18.4 0.0 714.5 467.7 170.4 237.3 617.3 677.3 75.4 -2.9 0.0 749.9 500.9 186.0 266.1 658.8 707.7 99.1 -12.4 0.0 794.4 511.3 190.0 258.4 643.7 706.6 90.3 -23.8 0.0 773.1 529.5 196.6 253.6 653.8 733.0 81.2 -14.8 0.0 799.4 511.0 189.7 273.0 663.8 712.0 105.9 -3.6 0.0 814.3 452.0 167.7 279.1 673.8 679.0 119.0 -7.3 0.0 790.7 410.0 152.0 297.8 683.8 644.0 118.0 -1.9 0.0 760.1 400.4 148.4 290.9 696.6 657.7 99.4 -9.7 0.0 747.4 1 2 3 4 5 6 7 8 9 Gross investment 692.6 645.5 794.7 847.3 879.2 868.7 896.9 886.2 864.9 796.8 780.1 10 687.7 661.8 21.0 4.8 778.6 712.9 57.0 8.8 845.1 772.4 68.6 4.1 934.4 875.6 57.1 1.7 1002.1 953.0 48.6 0.6 964.9 929.3 35.5 0.0 1012.1 940.6 70.3 1.2 1030.5 977.3 52.5 0.7 1001.1 964.7 35.9 0.5 946.3 970.9 -24.9 0.3 898.8 932.3 -33.8 0.3 11 12 13 14 4.8 -133.1 -50.4 -87.1 -123.0 -96.2 -115.1 -144.3 -136.2 -149.5 -118.6 15 11 12 13 14 Capital expenditures Fixed investment (2) Inventory change + IVA Access rights from federal government 15 Net financial investment 16 Net acquisition of financial assets 403.3 150.3 570.6 638.4 576.0 851.9 671.2 541.0 239.9 203.2 177.0 16 17 18 19 20 21 Foreign deposits Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 10.5 36.8 0.7 7.7 1.5 -5.1 30.7 -7.3 20.2 0.7 7.4 14.9 -5.0 26.5 -0.4 -2.3 74.7 4.0 23.1 1.1 -3.9 29.9 -1.1 40.4 -0.1 -23.6 77.3 -27.1 7.9 3.1 16.8 46.6 3.3 2.9 -7.7 53.0 25.7 4.1 63.4 -0.9 -61.7 -29.9 15.2 87.4 5.0 -23.9 -82.8 1.0 130.2 -2.2 -12.1 -38.3 1.0 112.6 -2.6 17 18 19 20 21 22 23 24 25 26 27 28 Commercial paper U.S. government securities Municipal securities Mortgages Consumer credit Trade receivables Mutual fund shares 11.4 -4.9 -5.8 -3.6 -7.3 88.1 3.3 4.6 -40.8 -3.6 25.9 1.2 93.5 -8.2 3.3 -0.6 -1.6 -13.0 -4.1 86.3 7.3 4.3 -2.1 -3.4 -7.0 5.4 113.4 -1.8 -0.4 2.0 10.8 -5.0 2.4 102.7 -1.8 -6.1 18.3 6.3 -5.0 43.0 186.1 -1.8 -0.1 19.3 49.6 -5.0 -1.8 111.6 -1.8 7.5 3.3 -34.8 -5.0 -21.8 107.7 -1.8 -3.0 -32.9 22.2 -5.0 -10.0 5.5 -1.8 13.9 2.2 -4.0 -5.0 33.6 -118.8 -1.8 -10.3 -11.3 5.0 -5.0 -24.9 -34.7 -1.8 22 23 24 25 26 27 28 29 30 31 32 33 34 Miscellaneous assets U.S. direct investment abroad (3) Insurance receivables Equity in GSEs Investment in finance co. subs. Other 264.9 76.8 2.6 -0.2 4.6 181.2 38.6 84.3 1.9 -1.1 2.2 -48.7 449.6 129.1 1.7 -0.7 -1.4 321.0 429.1 136.2 1.0 -0.6 31.0 261.4 400.1 122.0 -0.3 0.0 11.3 267.2 573.4 128.5 1.5 -0.1 42.6 400.9 437.5 95.2 5.7 -1.5 -16.6 354.7 340.6 117.9 2.9 0.3 14.9 204.5 249.0 146.2 -11.4 1.2 4.4 108.5 260.8 138.5 3.3 -1.3 -16.1 136.4 199.3 121.9 3.8 9.1 14.9 49.6 29 30 31 32 33 34 398.5 283.5 621.0 725.5 699.0 948.1 786.4 685.3 376.2 352.7 295.6 35 114.2 -69.5 183.7 -0.9 3.1 116.3 40.4 186.9 -114.4 301.3 13.7 4.2 150.5 51.1 127.8 -267.0 394.8 24.4 5.8 218.7 81.8 305.7 -143.5 449.2 37.4 5.1 229.9 73.0 270.9 -166.6 437.5 48.1 1.4 175.0 74.3 548.9 61.2 487.7 29.8 2.2 186.2 84.9 305.6 -245.2 550.8 110.4 0.1 153.8 134.5 235.2 -87.7 322.9 56.1 1.0 184.4 36.3 -6.3 -394.8 388.5 -4.0 2.1 175.6 41.5 194.3 -33.9 228.2 -207.2 2.3 403.7 8.5 312.9 -35.2 348.1 -141.5 3.3 423.7 -95.7 36 37 38 39 40 41 42 35 36 37 38 39 40 41 42 Net increase in liabilities Net funds raised in markets Net new equity issues Credit market instruments Commercial paper Municipal securities (4) Corporate bonds (3) Bank loans n.e.c. 43 44 45 46 47 48 49 50 Other loans and advances Savings institutions Finance companies U.S. government Acceptance liabilities to banks Rest of the world ABS issuers Mortgages 18.5 1.5 7.1 -1.3 -0.7 3.9 8.1 6.5 48.5 1.6 8.1 -0.3 -2.6 17.3 24.4 33.4 47.3 2.7 26.1 -0.1 -4.3 -1.0 23.8 16.8 37.6 3.2 51.9 -0.3 -2.2 -22.7 7.7 66.3 75.8 4.3 59.4 -0.4 -0.0 -2.2 14.7 63.0 116.1 5.6 94.6 -0.6 2.8 -17.6 31.3 68.6 94.7 3.9 77.2 -0.4 -0.6 16.9 -2.3 57.3 -7.6 5.0 45.1 -0.7 -3.2 -40.6 -13.2 52.7 100.0 2.8 20.7 -0.0 0.8 32.4 43.2 73.3 -31.9 4.1 -10.6 0.3 9.9 -32.2 -3.2 52.9 72.1 4.8 42.4 -1.2 -3.7 24.6 5.1 86.2 43 44 45 46 47 48 49 50 51 52 53 54 55 56 Trade payables Taxes payable Miscellaneous liabilities Foreign direct investment in U.S. Pension fund contributions payable Other 49.5 9.6 225.2 72.0 4.1 149.1 65.1 9.3 22.1 100.9 7.1 -85.9 57.6 4.8 430.7 144.4 1.9 284.5 144.4 7.0 268.4 262.6 1.0 4.8 92.1 7.0 329.0 179.7 1.0 148.4 113.7 16.3 269.2 9.6 1.0 258.7 94.4 16.3 370.0 307.3 1.0 61.7 113.0 -15.2 352.3 291.4 1.0 59.8 47.4 10.5 324.6 110.3 1.0 213.3 -47.6 -6.8 212.8 124.6 1.0 87.2 -41.8 -8.9 33.4 105.0 1.0 -72.7 51 52 53 54 55 56 -16.6 82.1 -80.3 -97.5 -84.8 -95.6 -97.5 -71.9 -74.1 -36.7 -32.7 57 72.2 110.3 193.4 260.0 306.9 282.1 293.8 322.1 329.4 304.2 250.7 58 57 Discrepancy 58 Memo: Financing gap (5) (1) Table F.9, line 6. (2) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 10 and 16 respectively. (3) 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. (4) 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. (5) Capital expenditures (line 11) less the sum of U.S. internal funds (line 5) and inventory valuation adjustment (line 7). 19 Z.1, September 18, 2001 F.103 Nonfarm Noncorporate Business Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 1 2 Net income with IVA and CCAdj Gross saving = capital consumption 569.7 110.8 609.9 118.5 657.6 124.4 706.3 134.3 742.7 143.4 730.7 140.0 743.7 142.1 744.6 144.5 751.9 147.1 763.0 149.5 775.1 156.3 1 2 3 Gross investment 110.8 118.5 124.4 134.3 143.4 140.0 142.1 144.5 147.1 149.5 156.3 3 102.2 101.1 1.1 91.1 88.1 3.0 106.3 102.7 3.6 159.0 156.0 3.0 191.7 189.2 2.6 176.4 174.5 1.9 195.6 191.9 3.7 182.9 180.1 2.8 212.1 210.2 1.9 182.1 183.4 -1.3 190.5 192.3 -1.8 4 5 6 8.5 27.4 18.1 -24.7 -48.3 -36.4 -53.5 -38.3 -65.0 -32.6 -34.2 7 4 5 6 Capital expenditures Fixed investment (1) Change in inventories 7 Net financial investment 8 Net acquisition of financial assets 95.4 131.1 186.0 160.6 129.3 124.1 184.8 102.0 106.5 115.3 109.3 8 9 10 11 12 13 14 15 16 17 18 19 20 Checkable deposits and currency Time and savings deposits Money market mutual funds Treasury securities Municipal securities Mortgages Consumer credit Trade receivables Miscellaneous assets Insurance receivables Equity investment in GSEs (2) Other 19.3 3.5 2.2 5.2 0.4 -1.4 0.0 29.5 36.6 0.6 0.7 35.2 22.2 10.7 3.7 4.1 0.5 -1.6 0.0 35.1 56.4 0.5 0.0 55.9 32.1 9.1 9.7 6.1 0.1 11.9 0.0 40.7 76.3 0.4 -0.1 75.9 25.0 10.0 10.0 -3.1 0.2 10.0 0.0 45.8 62.7 0.2 0.0 62.4 25.0 4.0 10.0 -10.2 0.2 7.9 0.0 40.8 51.6 -0.1 -0.0 51.7 25.0 4.0 2.0 -10.2 0.2 7.9 0.0 40.8 54.4 0.4 0.4 53.7 43.4 7.7 0.7 -15.0 0.2 15.2 0.0 78.3 54.2 1.4 -0.3 53.2 15.9 1.2 15.7 -6.5 0.2 2.3 0.0 17.0 56.3 0.7 -0.1 55.7 15.7 3.1 21.6 -9.1 0.2 6.2 0.0 27.1 41.6 -2.7 0.1 44.2 20.0 5.0 28.0 -11.0 0.2 6.0 0.0 20.0 47.1 0.8 -0.1 46.4 20.8 5.4 28.0 -11.0 0.2 5.6 0.0 14.0 46.3 0.9 -0.3 45.7 9 10 11 12 13 14 15 16 17 18 19 20 86.8 103.7 167.9 185.4 177.7 160.5 238.3 140.3 171.5 147.9 143.5 21 67.8 28.9 0.7 38.2 30.6 4.9 29.7 -46.1 95.7 43.8 4.2 47.7 31.0 7.3 56.5 -86.8 138.9 18.9 12.3 107.7 23.1 10.7 74.3 -79.1 155.7 17.9 8.1 129.7 25.5 8.3 50.1 -54.2 146.0 17.9 11.4 116.7 22.4 7.5 46.1 -44.3 135.7 18.3 12.6 104.8 26.0 8.7 46.1 -55.9 184.7 33.4 15.9 135.4 33.2 11.1 46.2 -36.8 129.3 7.3 11.6 110.4 14.3 4.8 41.1 -49.2 134.2 12.5 5.5 116.2 16.1 5.4 51.1 -35.3 121.3 0.7 0.1 120.5 12.8 4.0 34.7 -24.9 125.4 -20.2 13.4 132.2 11.2 3.2 35.6 -32.0 22 23 24 25 26 27 28 29 21 22 23 24 25 26 27 28 29 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 (1) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 11 and 17 respectively. (2) Equity in the Farm Credit System. F.104 Farm Business (1) Billions of dollars; 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 34.3 1.0 22.3 3.2 19.1 29.7 0.6 23.0 3.3 19.7 25.6 1.3 23.9 3.9 19.9 26.6 1.5 25.4 4.2 21.2 30.6 1.6 27.5 4.5 22.9 26.5 1.5 26.6 4.4 22.2 32.5 1.6 27.2 4.5 22.7 31.6 1.6 27.8 4.6 23.2 31.7 1.7 28.3 4.7 23.6 29.8 1.8 28.8 4.8 24.1 28.7 1.9 29.7 4.9 24.8 1 2 3 4 5 6 Gross saving 23.2 23.5 25.2 26.9 29.1 28.2 28.7 29.4 30.0 30.6 31.6 6 7 Gross investment 23.2 23.5 25.2 26.9 29.1 28.2 28.7 29.4 30.0 30.6 31.6 7 8 9 10 Capital expenditures Fixed investment (2) Change in inventories 31.6 23.8 7.9 30.4 27.5 2.9 30.0 29.1 0.9 25.4 26.9 -1.5 27.2 29.0 -1.8 21.8 28.3 -6.5 30.8 29.5 1.3 26.5 29.3 -2.8 29.6 28.7 0.9 31.7 31.0 0.7 26.9 28.0 -1.1 8 9 10 11 Net financial investment -8.4 -6.9 -4.8 1.5 1.9 6.4 -2.1 2.9 0.4 -1.0 4.7 11 12 Net acquisition of financial assets -0.1 0.7 2.5 -0.6 -0.7 -0.8 0.8 0.4 -3.2 0.1 0.8 12 13 14 15 16 Checkable deposits and currency Miscellaneous assets Insurance receivables Equity investment in GSEs (3) -0.0 -0.1 0.6 -0.6 0.2 0.4 0.4 0.0 1.9 0.5 0.4 0.1 -0.8 0.2 0.2 -0.0 -0.6 -0.1 -0.1 -0.0 -0.8 0.0 0.3 -0.3 -0.8 1.6 1.3 0.3 -0.4 0.8 0.7 0.2 -0.5 -2.7 -2.6 -0.1 -0.5 0.6 0.8 -0.1 -0.4 1.2 0.9 0.3 13 14 15 16 8.3 7.6 7.3 -2.1 -2.6 -7.2 2.9 -2.5 -3.6 1.2 -3.9 17 4.9 0.6 1.6 2.7 1.3 2.2 6.2 3.5 -0.5 3.1 1.4 0.0 8.0 1.2 0.3 6.5 0.8 -1.5 5.5 -0.9 0.6 5.8 0.4 -8.0 11.3 2.7 1.7 6.9 0.9 -14.8 13.8 2.2 4.2 7.4 1.1 -22.1 9.7 1.2 -1.6 10.1 1.6 -8.5 7.2 -0.8 1.5 6.5 -0.9 -8.7 14.5 8.2 2.5 3.8 1.7 -19.8 6.3 2.2 -0.4 4.5 1.5 -6.7 6.5 -2.3 -0.3 9.1 0.8 -11.2 18 19 20 21 22 23 17 18 19 20 21 22 23 Net increase in liabilities Credit market instruments Bank loans n.e.c. Other loans and advances Mortgages Trade payables Proprietors’ net investment (1) Corporate and noncorporate farms. (2) Nonresidential fixed investment, shown in table F.6, line 12. (3) Equity in the Farm Credit System. 20 Z.1, September 18, 2001 F.105 State and Local Governments, Excluding Employee Retirement Funds (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 960.4 1011.4 1074.4 1143.8 1222.7 1194.5 1215.4 1234.3 1246.5 1273.4 1294.2 1 199.6 33.0 524.9 12.4 190.4 217.0 34.2 552.6 10.9 196.8 235.5 34.6 583.9 10.2 210.3 255.9 34.8 612.5 10.1 230.5 278.7 36.8 651.6 10.1 245.6 268.7 37.7 640.8 10.1 237.2 276.2 38.2 646.8 10.0 244.2 280.4 37.3 655.7 10.0 250.9 289.3 34.1 662.9 10.1 250.1 293.8 31.8 673.5 10.3 264.0 291.4 31.1 679.9 10.6 281.2 2 3 4 5 6 Current expenditures, NIPA basis 939.0 980.4 1033.7 1101.6 1189.8 1161.2 1180.7 1199.5 1217.8 1251.1 1272.8 7 8 9 10 11 12 13 Consumption expenditures Transfer payments to persons Net interest paid - Dividends received by government Subsidies less current surplus of govt. enterprises - Wage accruals less disbursements 726.5 224.4 0.9 0.3 -12.5 0.0 766.5 227.6 -0.9 0.3 -12.4 0.0 808.3 235.3 0.4 0.4 -9.9 0.0 858.3 254.0 -0.2 0.4 -10.1 0.0 929.0 270.7 -0.3 0.4 -9.2 0.0 907.2 263.9 -0.3 0.4 -9.2 0.0 922.3 268.3 -0.4 0.4 -9.1 0.0 936.6 272.7 -0.2 0.4 -9.2 0.0 950.0 277.8 -0.2 0.4 -9.4 0.0 966.7 282.9 -0.5 0.4 2.4 0.0 981.2 288.3 -0.9 0.4 4.6 0.0 8 9 10 11 12 13 14 Current surplus or deficit (-), NIPA basis 21.4 31.0 40.8 42.2 32.9 33.3 34.7 34.8 28.7 22.3 21.4 14 15 16 + Consumption of fixed capital + Net capital transfers (2) 89.0 33.8 94.2 35.3 99.5 36.0 106.4 39.7 114.9 44.1 111.6 43.2 114.0 43.9 116.1 43.9 118.0 45.5 120.2 47.3 121.9 49.7 15 16 17 = Gross saving and net capital transfers 144.1 160.4 176.2 188.3 191.9 188.1 192.6 194.8 192.2 189.8 193.0 17 18 Gross investment 153.6 121.3 227.1 216.2 220.5 223.7 239.7 215.3 203.3 174.1 179.2 18 2 3 4 5 6 7 Current receipts, NIPA basis 1997 Personal tax and nontax receipts Corporate profits tax accruals Indirect business tax and nontax accruals Contributions for social insurance Federal grants-in-aid 19 Fixed investment 163.8 183.3 191.0 210.2 221.8 226.0 217.8 220.6 222.7 233.1 246.2 19 20 Net financial investment -10.3 -62.0 36.1 6.1 -1.3 -2.3 21.9 -5.3 -19.4 -59.0 -67.0 20 13.8 25.4 146.9 87.5 53.3 43.9 65.5 43.8 59.8 65.9 68.1 21 -5.5 10.6 32.1 4.4 5.8 3.6 -3.9 12.8 7.2 3.9 10.9 5.0 1.0 9.4 9.7 -5.9 -18.4 51.3 -7.2 20.3 -9.4 0.2 7.0 12.0 17.0 28.9 -15.0 2.3 -11.5 19.0 5.3 -1.8 17.2 22 23 24 -33.7 0.1 134.5 43.4 9.2 1.2 39.9 -16.4 12.1 1.5 -24.8 25 20.3 -68.1 -32.8 -35.3 14.3 -18.5 -17.7 -0.8 28.0 93.5 30.0 63.6 1.9 26.0 -2.5 28.5 7.6 -7.1 -30.6 23.5 6.9 -14.4 -37.5 23.1 17.5 11.7 -15.2 26.9 -4.0 -21.7 -45.7 24.0 10.0 -4.1 -24.1 20.0 4.0 -20.7 -48.5 27.8 -17.2 -18.9 -41.5 22.7 26 27 28 29 -0.5 10.7 3.8 -0.7 1.3 3.7 -1.4 10.2 4.1 -1.5 12.6 4.3 0.6 3.7 4.5 -1.7 6.1 4.4 1.6 4.7 4.5 3.2 1.6 4.5 -0.8 2.4 4.6 2.1 11.5 4.6 -0.6 7.2 4.7 30 31 32 21 Net acq. of financial assets 22 23 24 Checkable deposits and currency Time and savings deposits Security RPs 25 Credit market instruments 26 27 28 29 Open market paper U.S. government securities Treasury Agency 30 31 32 Municipal securities Corporate and foreign bonds Mortgages 33 34 Corporate equities Mutual fund shares 14.5 6.0 16.8 -7.4 9.4 -12.3 3.5 4.3 -1.2 0.8 -5.6 -10.7 10.7 5.6 -4.1 4.5 -5.6 4.0 16.9 9.4 21.0 7.9 33 34 35 36 Taxes receivable Miscellaneous assets -2.0 -8.1 3.3 -1.2 9.1 -9.7 8.8 7.7 11.9 12.3 13.3 18.7 16.6 -10.9 9.9 30.8 7.7 10.7 4.6 23.6 3.4 39.8 35 36 37 24.1 87.5 110.8 81.4 54.5 46.2 43.6 49.2 79.2 124.9 135.0 37 38 Credit market instruments -6.8 56.1 80.3 52.3 27.2 12.9 18.2 23.8 53.7 100.1 110.1 38 39 40 41 42 Municipal securities Short-term Other U.S. government loans -7.2 6.3 -13.4 0.4 57.3 8.3 49.0 -1.2 79.1 -6.3 85.4 1.2 52.7 3.6 49.1 -0.4 28.2 3.2 25.0 -1.0 14.5 4.4 10.1 -1.6 19.8 8.4 11.5 -1.6 25.1 -7.2 32.3 -1.3 53.4 7.1 46.3 0.4 99.7 17.4 82.3 0.4 109.7 21.9 87.7 0.4 39 40 41 42 30.9 31.4 30.5 29.1 27.4 33.2 25.4 25.4 25.5 24.8 25.0 43 -9.4 39.1 -50.9 -27.9 -28.6 -35.6 -47.1 -20.5 -11.1 15.7 13.8 44 43 44 Net increase in liabilities Trade payables Discrepancy (1) Data for retirement funds are shown in table F.120. (2) Table F.9, line 7. 21 Z.1, September 18, 2001 F.106 Federal Government Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1 2 3 4 5 6 Current receipts, NIPA basis Personal tax and nontax receipts Corporate profits tax accruals Indirect business tax and nontax accruals Contributions for social insurance Current expenditures, NIPA basis 7 8 9 10 11 12 Consumption expenditures Transfers payments (net) Grants-in-aid to state and local governments Net interest paid Subsidies less current surplus of govt. enterprises - Wage accruals less disbursements 13 Current surplus or deficit (-), NIPA basis 14 15 16 + Consumption of fixed capital - Insurance and pension reserves (1) + Net capital transfers (2) 17 = Gross saving and net capital transfers 18 Gross investment 19 20 Fixed investment Access rights sales 21 Net financial investment 22 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 1499.1 1625.5 1749.7 1872.8 2046.8 2003.0 2042.4 2064.3 2077.5 2087.4 2092.7 1 670.0 190.6 95.1 543.4 751.8 203.0 93.7 577.0 834.9 204.3 97.4 613.1 903.3 218.3 100.6 650.7 1009.5 234.6 111.2 691.5 976.6 239.3 108.6 678.5 1001.1 242.2 111.5 687.6 1019.8 237.6 111.9 695.0 1040.5 219.4 112.7 704.9 1051.4 205.0 112.2 718.8 1059.6 199.9 111.1 722.1 2 3 4 5 1636.0 1678.8 1705.9 1753.6 1828.3 1790.2 1833.5 1834.4 1855.1 1882.1 1903.4 6 445.3 691.7 190.4 273.6 35.1 0.0 456.9 717.5 196.8 276.2 31.5 0.0 453.1 730.6 210.3 278.5 33.5 0.0 469.6 746.2 230.5 263.9 43.4 0.0 493.7 779.3 245.6 262.9 46.8 0.0 483.4 758.7 237.2 264.2 46.7 0.0 503.8 775.1 244.2 264.4 46.0 0.0 493.6 780.5 250.9 262.9 46.5 0.0 494.1 802.9 250.1 259.9 48.1 0.0 507.5 811.7 264.0 253.5 45.4 0.0 509.8 822.5 281.2 242.2 47.7 0.0 7 8 9 10 11 12 -136.9 -53.4 43.8 119.2 218.5 212.8 208.9 229.9 222.4 205.3 189.3 13 85.3 3.4 -10.7 86.8 3.4 -8.4 88.2 4.4 -3.6 91.7 3.8 -7.3 96.4 1.8 -7.9 94.9 0.3 -6.3 95.9 2.7 -7.7 97.0 0.8 -8.1 97.9 3.3 -9.7 98.4 2.8 -8.9 99.5 6.9 -12.6 14 15 16 -65.6 21.6 124.0 199.7 305.2 301.2 294.4 318.1 307.4 292.0 269.2 17 -121.6 6.4 101.4 201.9 310.1 151.5 419.0 288.4 381.5 51.8 294.3 18 86.3 -4.8 81.4 -8.8 86.1 -4.1 94.5 -1.7 96.5 -0.6 95.1 0.0 97.2 -1.2 93.5 -0.7 100.1 -0.5 97.8 -0.3 100.0 -0.3 19 20 -203.1 -66.2 19.3 109.2 214.2 56.4 322.9 195.6 281.9 -45.7 194.6 21 -4.9 -9.6 -5.3 76.3 -57.8 -123.8 -45.5 15.8 -77.7 55.5 17.1 22 23 24 25 Gold, SDRs, and official foreign exchange Checkable deposits and currency Time and savings deposits -2.9 11.0 1.4 2.5 -0.5 1.0 6.0 -16.7 1.3 -7.1 66.2 0.7 -0.6 -65.1 1.0 1.9 -140.3 0.4 -8.3 -58.3 1.0 -1.5 10.0 2.1 5.3 -71.7 0.4 -1.2 40.1 8.2 5.0 -31.6 5.9 23 24 25 26 Credit market instruments -7.2 5.1 13.5 5.8 7.3 6.5 7.7 4.5 10.6 4.6 9.4 26 0.0 -7.2 0.1 0.0 -4.5 9.6 0.0 -0.8 14.3 0.0 -0.1 5.9 0.0 -0.9 8.2 0.0 -3.8 10.3 0.0 0.1 7.6 0.0 -1.3 5.8 0.0 1.6 9.1 0.0 -2.4 7.0 0.0 -0.6 9.9 27 28 29 0.9 -1.6 -6.7 -3.2 -9.0 -5.4 1.5 -7.5 -3.5 4.6 7.0 -0.9 5.3 -4.3 -1.4 6.0 8.2 -6.6 7.2 5.1 0.1 4.3 -4.0 0.5 3.7 -26.4 0.4 9.9 -5.7 -0.5 1.9 25.6 0.9 30 31 32 198.2 56.5 -24.7 -32.9 -272.0 -180.2 -368.5 -179.8 -359.6 101.1 -177.4 33 -0.5 0.5 -0.5 0.5 0.0 0.6 -3.0 1.0 -4.0 2.4 0.0 2.2 -8.0 3.2 -4.0 4.2 -4.0 -0.0 0.0 -1.1 0.0 1.1 34 35 145.0 23.1 -52.6 -71.2 -295.9 -217.2 -408.7 -226.2 -331.3 -4.3 -216.0 36 27 28 29 30 31 32 33 Net acq. of financial assets 1997 Agency securities Mortgages Other loans and advances Trade receivables Taxes receivable Miscellaneous assets Net increase in liabilities 34 35 SDR certificates Treasury currency 36 Credit market instruments 37 38 39 40 Savings bonds Other Treasury securities Budget agency securities Multifamily residential mortgages 2.0 144.6 -1.6 -0.0 -0.5 23.7 -0.1 -0.0 0.1 -54.7 2.0 0.0 -0.2 -70.8 -0.2 0.0 -1.7 -293.2 -1.0 0.0 -3.5 -211.7 -2.1 0.0 -2.1 -408.5 1.8 0.0 -0.9 -222.9 -2.4 0.0 -0.3 -329.9 -1.2 0.0 1.4 -3.5 -2.2 0.0 5.3 -222.5 1.1 0.0 37 38 39 40 41 42 43 Trade payables Insurance and pension reserves (3) Miscellaneous liabilities 0.7 55.7 -3.3 -8.8 42.0 0.3 -8.0 42.5 -7.1 0.7 42.5 -2.9 1.2 22.3 2.0 3.2 39.3 -7.6 -2.3 41.9 5.4 2.1 36.3 7.9 1.6 -28.1 2.3 -12.3 118.1 0.6 -13.4 46.9 4.1 41 42 43 56.0 15.2 22.6 -2.2 -4.8 149.7 -124.6 29.6 -74.1 240.2 -25.1 44 12.9 -2.2 -12.8 59.4 -55.1 -121.2 -41.1 15.1 -73.4 18.4 -11.9 45 44 Discrepancy Memo: 45 Change in cash balance (4) (1) Railroad Retirement Board and federal government life insurance reserves. (2) Table F.9, line 2. (3) Line 15 plus civil service retirement and disability fund, judicial retirement fund, military retirement fund, and foreign service retirement and disability fund. (4) Time and savings deposits (line 25) 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 18, 2001 F.107 Rest of the World Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 1 2 3 4 Foreign income from U.S. U.S. imports U.S. income payments to rest of world Net transfers to rest of world 1230.4 963.1 227.5 39.8 1370.8 1055.8 274.3 40.8 1450.7 1116.7 289.6 44.5 1610.2 1240.7 320.6 49.0 1917.6 1466.9 396.3 54.4 1819.6 1393.6 378.1 47.9 1905.0 1450.4 404.5 50.1 1969.1 1511.8 404.7 52.6 1976.5 1511.6 397.9 67.0 1916.5 1481.2 389.4 45.9 1845.7 1429.8 369.3 46.6 1 2 3 4 5 6 7 Foreign outlays to U.S. U.S. exports U.S. income receipts from rest of world 1119.7 874.2 245.6 1247.7 966.4 281.3 1251.1 964.9 286.1 1303.6 989.8 313.8 1487.1 1102.9 384.2 1419.8 1059.7 360.1 1487.6 1099.7 387.9 1517.7 1131.1 386.6 1523.1 1121.0 402.1 1496.3 1117.4 378.9 1429.7 1079.3 350.4 5 6 7 8 Net capital transfers (1) -0.1 -0.4 -0.7 3.5 -0.7 -0.7 -0.7 -0.7 -0.7 -0.7 -0.7 8 9 Gross saving and net capital transfers (2) 110.6 122.7 199.0 310.2 429.8 399.1 416.7 450.7 452.7 419.5 415.3 9 Net financial investment 172.8 272.0 145.5 373.2 444.0 235.4 626.4 458.2 455.8 323.0 499.4 10 10 11 556.7 649.8 474.3 783.2 940.5 980.0 940.9 886.2 954.7 852.8 664.9 11 12 13 14 15 16 Gold and SDRs (3) Net interbank assets U.S. checkable deposits and currency U.S. time deposits Security RPs 0.4 -52.0 19.9 10.9 3.2 -0.4 -4.3 29.9 13.1 20.0 -0.1 -27.1 14.8 13.0 -18.8 -0.0 -6.5 39.9 15.0 14.8 -0.7 -11.5 -8.2 5.7 5.1 -0.7 5.9 -81.9 -9.5 -43.2 -0.7 138.4 9.8 1.4 48.5 -0.7 -143.9 8.0 -6.4 20.6 -0.7 -46.6 31.3 37.2 -5.6 -0.8 -222.9 11.3 -40.3 97.1 -0.6 160.5 7.1 2.6 13.5 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 (4) Loans to U.S. corporate business 414.4 14.4 312.4 120.7 115.7 5.0 191.7 155.0 36.7 83.7 3.9 311.3 19.9 189.6 -2.2 -6.7 4.5 191.7 146.4 45.3 84.6 17.3 254.2 37.6 95.4 -3.6 -9.9 6.3 99.0 48.6 50.4 122.2 -1.0 208.8 -13.0 83.8 32.5 12.2 20.4 51.3 -20.5 71.8 160.8 -22.7 279.3 8.7 89.7 30.7 -10.2 40.9 59.0 -52.8 111.8 183.1 -2.2 315.2 -9.4 163.9 97.2 64.8 32.4 66.6 -37.4 104.0 178.3 -17.6 197.9 -7.2 19.1 25.3 -16.0 41.3 -6.2 -82.2 76.0 169.1 16.9 216.2 -14.3 85.4 21.1 -36.0 57.1 64.3 -50.0 114.4 185.6 -40.6 387.8 65.6 90.4 -21.0 -53.7 32.8 111.4 -41.6 152.9 199.4 32.4 410.8 -4.1 167.0 10.2 -4.1 14.3 156.8 2.2 154.7 280.2 -32.2 344.0 12.8 26.9 -85.4 -110.8 25.4 112.3 -5.1 117.4 279.6 24.6 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. (5) Other 11.1 5.3 0.0 143.5 86.5 57.0 67.8 4.5 0.0 208.0 105.6 102.4 42.0 -7.5 0.0 203.8 178.2 25.6 112.3 -7.5 0.0 406.4 301.0 105.4 193.8 10.4 0.0 466.6 287.7 179.0 266.2 -1.6 0.0 529.5 146.0 383.5 136.1 3.9 0.0 405.5 361.6 43.9 214.9 9.1 0.0 568.5 304.2 264.3 158.2 30.2 0.0 363.0 338.8 24.2 164.4 6.4 0.0 426.8 209.9 217.0 137.8 -4.6 0.0 4.6 268.7 -264.1 28 29 30 31 32 33 383.9 377.8 328.8 410.0 496.5 744.6 314.5 428.0 498.9 529.9 165.5 34 -6.3 85.9 0.7 107.7 6.6 6.5 -8.7 61.0 -0.4 120.8 1.5 313.3 -8.8 3.4 0.7 -40.8 4.9 207.4 -1.5 235.5 4.7 -146.5 35 36 88.4 11.3 67.0 9.1 0.3 3.4 5.4 -0.7 1.8 71.8 3.7 61.4 8.5 -0.8 -0.5 9.8 -1.6 -0.2 43.4 7.8 34.9 6.7 0.8 -0.7 6.7 -1.0 -5.0 27.9 16.3 16.8 0.5 0.2 -3.1 3.5 -4.8 -0.9 96.0 31.7 54.3 11.3 0.5 3.2 7.5 -0.6 -0.7 117.4 57.8 44.7 15.4 -0.8 5.7 10.6 0.3 -0.8 50.6 12.0 31.2 5.7 1.4 2.6 1.7 0.4 1.2 108.7 7.0 91.5 11.9 1.8 2.2 7.9 -2.2 0.5 107.4 50.1 49.6 12.2 -0.3 2.5 9.9 -0.8 -3.7 9.3 -25.4 33.3 13.0 0.4 12.1 0.5 -1.8 -9.9 4.2 -5.6 36.0 -26.9 -1.2 -28.3 2.6 1.0 -0.3 37 38 39 40 41 42 43 44 45 82.8 -1.7 0.0 134.8 1.8 -0.1 91.9 41.1 57.6 5.1 0.0 134.9 1.6 -0.0 104.8 28.6 101.3 -2.4 0.0 173.5 1.6 -0.1 142.5 29.5 114.4 4.3 0.0 211.1 1.5 0.6 155.4 53.6 99.7 1.6 0.0 178.8 1.5 0.0 152.4 24.8 62.6 -2.4 0.0 252.2 1.4 -1.2 153.6 98.5 185.9 12.1 0.0 71.3 1.6 0.2 133.4 -64.0 61.1 -12.7 0.0 311.1 1.3 0.4 166.5 142.8 89.4 9.2 0.0 80.6 1.6 0.6 156.3 -78.0 109.2 -5.8 0.0 183.1 2.1 -0.4 163.8 17.7 208.8 11.5 0.0 82.7 2.0 0.0 142.4 -61.8 46 47 48 49 50 51 52 53 -62.2 -149.4 53.5 -63.0 -14.2 163.7 -209.7 -7.5 -3.2 96.5 -84.2 54 -89.0 18.1 39.8 -89.4 7.1 40.8 -151.7 -3.5 44.5 -250.9 -6.8 49.0 -364.0 -12.1 54.4 -333.9 -18.0 47.9 -350.7 -16.6 50.1 -380.7 -18.1 52.6 -390.6 4.2 67.0 -363.8 -10.5 45.9 -350.5 -18.9 46.6 55 56 57 -110.7 -123.1 -199.7 -306.7 -430.5 -399.8 -417.4 -451.4 -453.4 -420.2 -416.0 58 34 35 36 Net acquisition of financial assets Net increase in liabilities U.S. official foreign exchange and net IMF position U.S. private deposits 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 46 47 48 49 50 51 52 53 Foreign corporate equities (6) Trade payables Security debt Miscellaneous liabilities U.S. equity in IBRD, etc. U.S. government deposits U.S. direct investment abroad (4,5) Other 54 55 56 57 58 Discrepancy (FOF basis) (7) Memo: Net U.S. exports, NIPA basis + Net U.S. income receipts (8) - Net transfer payments to foreign = Net foreign investment in U.S. (NIPA basis) (1) Table F.9, line 10. (2) Line 1 minus line 5 plus line 8; also equal to line 58 with the sign reversed plus line 8. (3) U.S. net sales, sign reversed. (4) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries; U.S. direct investment abroad excludes net inflows from those bond issues. (5) Direct investment is valued on a current-cost basis. Excludes capital gains and losses. (6) Includes American Depositary Receipts (ADRs). (7) Balance of payments discrepancy adjusted to NIPA concepts. (8) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP. 23 Z.1, September 18, 2001 F.108 Monetary Authority (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 1 Gross saving 1.7 2.7 -2.1 0.2 4.5 4.4 4.5 4.6 4.7 4.4 4.4 1 2 Fixed nonresidential investment 0.3 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 2 3 Net acquisition of financial assets 23.3 38.8 32.8 130.0 -60.9 -299.3 18.5 19.2 17.9 33.3 53.5 3 4 5 6 Gold and foreign exchange SDR certificates Treasury currency -3.8 -0.5 1.0 -1.5 -0.5 0.6 0.8 0.0 0.7 -1.6 -3.0 1.7 0.9 -4.0 3.6 0.3 0.0 4.0 0.2 -8.0 3.9 2.9 -4.0 3.3 0.3 -4.0 3.3 0.4 0.0 2.5 0.3 0.0 1.4 4 5 6 7 8 9 Federal Reserve float Fed. Res. loans to domestic banks Security RPs 4.2 -0.1 7.7 -3.6 2.0 2.3 0.9 -2.0 6.5 -1.9 0.2 110.3 1.1 -0.1 -97.3 0.1 0.0 -402.8 0.8 1.1 26.9 1.5 -0.6 -27.6 2.1 -1.0 14.5 -2.9 -0.4 -15.1 -2.2 0.5 24.2 7 8 9 Credit market instruments 12.3 38.3 21.1 25.7 33.7 102.0 -5.4 39.1 -0.9 53.7 26.4 10 0.0 12.3 12.7 -0.4 0.0 0.0 38.3 39.8 -1.5 0.0 0.0 21.1 21.4 -0.3 0.0 0.0 25.7 25.8 -0.2 0.0 0.0 33.7 33.7 -0.1 0.0 0.0 102.0 102.1 -0.1 0.0 0.0 -5.4 -5.4 -0.0 0.0 0.0 39.1 39.2 -0.0 0.0 0.0 -0.9 -0.9 0.0 0.0 0.0 53.7 54.2 -0.5 0.0 0.0 26.4 26.4 0.0 0.0 11 12 13 14 15 10 11 12 13 14 15 16 17 Acceptances U.S. government securities Treasury Agency Bank loans n.e.c. Miscellaneous assets Net increase in liabilities 2.4 1.3 4.9 -1.3 1.1 -2.8 -1.0 4.5 3.6 -4.9 2.8 16 22.8 38.1 32.1 129.6 -61.3 -305.6 34.2 20.1 6.2 34.3 50.5 17 18 19 Depository institution reserves Vault cash of commercial banks -5.1 4.6 6.3 -0.2 -4.5 -2.9 -2.3 24.5 -5.0 -22.2 -5.1 -99.1 0.4 5.7 -4.6 -10.9 -10.7 15.7 14.7 -7.6 1.5 3.7 18 19 20 21 22 23 Checkable deposits and currency Due to federal government Due to rest of the world Currency outside banks 23.3 1.7 -0.2 21.8 29.9 -2.3 0.3 31.9 38.3 0.5 -0.3 38.0 108.7 22.3 -0.1 86.4 -35.3 -22.9 0.1 -12.5 -187.8 -91.0 0.2 -97.0 27.5 -19.5 -0.1 47.1 23.3 30.4 0.1 -7.2 -4.1 -11.5 0.3 7.1 48.8 5.9 -0.6 43.5 50.0 -17.7 0.1 67.6 20 21 22 23 24 25 26 Miscellaneous liabilities Federal Reserve Bank stock Other -0.1 0.6 -0.7 2.1 0.8 1.3 1.3 0.5 0.8 -1.3 0.5 -1.8 1.1 0.6 0.6 -13.5 1.2 -14.8 0.5 0.5 -0.0 12.3 0.3 12.0 5.3 0.3 5.0 -21.6 0.1 -21.8 -4.7 0.5 -5.2 24 25 26 0.8 1.7 -3.1 -0.7 3.8 -2.2 19.8 5.0 -7.5 4.9 1.0 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 Z.1, September 18, 2001 F.109 Commercial Banking (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 1 Gross saving 28.5 35.5 29.9 47.3 50.4 52.4 51.2 47.8 50.5 48.2 57.9 1 2 Fixed nonresidential investment 22.5 26.2 30.0 25.2 27.8 26.9 27.7 28.2 28.3 28.0 27.8 2 3 Net acquisition of financial assets 216.6 457.3 443.7 352.5 487.8 356.1 707.5 566.3 321.2 114.7 381.3 3 4 5 6 Vault cash Reserves at Federal Reserve Checkable deposits and currency 4.6 -4.6 -0.2 -0.2 6.8 -0.1 -2.9 -4.6 0.6 24.5 -2.4 0.3 -22.2 -4.0 -0.5 -99.1 -3.3 -1.3 5.7 0.4 0.6 -10.9 -2.8 -2.6 15.7 -10.1 1.2 -7.6 14.7 0.6 3.7 1.5 -0.6 4 5 6 7 Total bank credit 189.9 350.0 335.8 295.5 412.3 503.9 514.3 396.0 235.0 238.6 73.0 7 11.3 -16.9 28.2 83.8 8.3 75.5 35.4 -56.1 91.4 48.4 12.7 35.7 -21.9 -44.5 22.6 -15.7 -86.3 70.6 -21.3 -35.1 13.8 -7.2 22.9 -30.1 -43.4 -79.6 36.2 -103.5 -82.8 -20.7 -25.4 47.6 -73.0 8 9 10 0.9 1.4 2.4 27.8 8.2 38.0 5.8 38.8 3.4 57.6 7.6 -22.9 3.1 19.3 1.6 138.0 1.1 96.0 -2.6 52.1 15.4 142.3 11 12 174.2 0.8 92.1 55.2 24.8 1.3 234.7 -0.8 128.2 99.9 -14.2 21.7 253.4 -0.2 145.0 91.7 -3.6 20.5 200.1 0.3 68.9 158.2 -9.2 -18.1 370.4 0.1 114.1 164.1 41.7 50.4 529.0 0.4 158.0 247.0 39.5 84.2 512.4 -0.4 179.2 261.1 55.7 16.8 262.6 -0.1 52.2 127.6 53.9 29.1 177.6 0.7 67.1 20.7 17.8 71.4 280.5 0.1 34.1 158.8 13.7 73.8 -56.5 0.0 -156.5 132.2 54.4 -86.7 13 14 15 16 17 18 1.8 0.3 0.6 0.8 1.3 -0.4 1.2 1.2 0.3 2.5 0.8 5.1 0.9 -0.1 1.3 -0.3 -1.8 5.4 -1.5 13.6 -0.5 -2.1 19 20 1.0 25.9 -2.8 103.5 -9.3 124.1 -3.1 37.8 -0.7 102.9 2.0 -46.1 0.7 185.7 -2.7 189.4 -2.9 82.5 0.0 -131.7 -4.0 307.6 21 22 8 9 10 U.S. government securities Treasury Agency 11 12 Municipal securities Corporate and foreign bonds 13 14 15 16 17 18 Total loans Open market paper Bank loans n.e.c. Mortgages Consumer credit Security credit 19 20 Corporate equities Mutual fund shares 21 22 Customers’ liab. on acceptances (2) Miscellaneous assets 23 Net increase in liabilities 203.7 490.5 469.1 289.7 527.7 461.3 860.8 515.1 273.6 229.0 528.6 23 24 25 26 27 Net interbank liabilities To monetary authority To domestic banks (3) To foreign banks -51.2 4.1 -3.3 -52.0 -25.8 -1.6 -19.9 -4.3 -24.8 -1.1 3.4 -27.1 -4.6 -1.7 3.5 -6.5 6.9 1.0 17.4 -11.5 31.3 0.1 25.3 5.9 145.7 1.9 5.4 138.4 -155.0 1.0 -12.1 -143.9 5.6 1.1 51.1 -46.6 -209.5 -3.2 16.7 -222.9 171.7 -1.7 12.9 160.5 24 25 26 27 28 29 30 31 Checkable deposits Federal government Rest of the world Private domestic -34.6 9.7 2.8 -47.1 -19.8 -0.9 4.8 -23.7 -33.4 -14.6 -1.5 -17.3 3.2 36.4 13.4 -46.6 -85.2 -33.2 -9.5 -42.6 -87.9 -30.5 -54.7 -2.7 -100.7 -22.6 5.9 -84.1 -60.8 -17.3 4.8 -48.3 -91.4 -62.3 6.0 -35.2 -25.5 4.3 2.7 -32.4 1.8 -0.1 -4.1 6.0 28 29 30 31 32 33 34 Small time and savings deposits Large time deposits Federal funds and security RPs (net) 123.1 105.3 41.0 148.3 107.9 89.0 183.7 72.3 87.0 71.3 119.0 110.6 213.3 94.9 63.6 145.6 128.8 133.1 159.7 86.5 198.9 213.0 122.6 59.2 334.8 41.8 -137.0 222.2 87.8 74.3 196.6 34.9 -58.2 32 33 34 35 Credit market instruments 13.0 46.1 72.9 67.2 60.0 78.3 99.3 43.4 18.8 148.3 -15.6 35 2.9 7.8 2.3 3.3 23.7 19.1 -1.5 27.6 46.9 6.1 20.4 40.6 0.6 32.6 26.8 -13.4 33.1 58.6 7.3 38.1 53.9 4.5 32.7 6.2 3.8 26.5 -11.4 29.8 79.5 39.0 -7.4 9.1 -17.4 36 37 38 -14.3 1.2 20.1 -27.7 1.4 171.2 -11.2 1.7 120.9 -10.6 1.9 -68.3 -12.5 2.1 184.7 -26.1 2.1 56.0 -16.0 2.1 285.3 -2.8 2.2 293.3 -5.2 2.2 104.1 -8.1 2.3 -62.8 -7.9 2.4 203.0 39 40 41 -6.9 42.4 25.3 -40.8 62.6 130.6 176.8 -31.7 -25.4 134.5 177.4 42 187.5 324.3 305.2 308.2 358.4 415.8 497.4 363.2 157.0 152.8 158.4 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 (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 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 18, 2001 F.110 U.S.-Chartered Commercial Banks Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 1 Gross saving -11.6 -7.5 -11.1 -10.4 -4.5 -6.9 -4.3 -2.7 -3.9 -18.4 -3.5 1 2 Fixed nonresidential investment 18.3 21.1 23.8 19.6 21.6 20.9 21.5 21.9 21.9 21.8 21.6 2 3 Net acquisition of financial assets 122.8 290.8 328.1 344.1 329.2 355.5 520.1 344.0 97.4 112.7 177.9 3 4 Vault cash and reserves at Federal Reserve 5 Total bank credit 6 7 8 9 10 11 U.S. government securities Treasury Agency Mortgage pool securities Agency-issued CMOs Other agency securities 12 13 14 15 16 Municipal securities Corporate and foreign bonds Private mortgage pool securities Privately issued CMOs Other bonds 17 18 19 20 21 22 Total loans Open market paper Bank loans n.e.c. Mortgages Consumer credit Security credit 23 24 Corporate equities Mutual fund shares 25 26 27 Customers’ liab. on acceptances (1) Miscellaneous assets Net increase in liabilities -0.3 4.8 -5.7 21.6 -25.2 -98.5 5.5 -13.0 5.3 6.8 5.6 4 115.2 280.7 329.3 313.7 350.5 488.1 486.6 316.1 111.1 149.6 185.8 5 -19.4 -34.7 15.3 21.4 -11.5 5.4 54.3 -6.1 60.4 31.1 17.5 11.8 39.6 -42.1 81.6 53.7 8.9 19.1 27.4 -1.9 29.3 -17.8 4.9 42.2 -16.7 -35.0 18.2 14.2 -9.8 13.8 43.2 -32.2 75.3 24.7 -1.5 52.2 1.6 -13.7 15.3 0.5 -4.6 19.3 -46.5 -6.5 -40.0 -25.8 -41.8 27.5 -65.2 -87.6 22.4 57.3 8.6 -43.6 -135.3 -104.4 -30.9 41.5 15.0 -87.4 26.3 13.8 12.5 61.4 6.8 -55.7 6 7 8 9 10 11 1.0 -4.5 -0.4 -3.1 -1.0 2.4 19.6 -1.2 0.7 20.2 8.2 32.4 0.9 20.3 11.1 5.8 43.3 0.9 5.7 36.7 3.2 52.4 -0.7 8.0 45.2 7.1 -21.4 -5.3 -9.5 -6.6 3.2 25.9 -4.2 3.7 26.4 1.5 132.4 3.9 16.1 112.4 1.1 72.8 2.6 21.8 48.4 -1.2 63.0 15.2 4.1 43.7 15.4 49.7 2.9 26.0 20.8 12 13 14 15 16 136.0 0.3 58.2 57.5 24.8 -4.8 203.0 -0.6 108.1 105.5 -14.2 4.2 248.2 -0.1 144.3 95.8 -3.6 11.9 234.9 -0.1 92.2 160.6 -9.2 -8.7 308.7 0.2 98.2 161.5 41.7 7.1 453.2 -0.1 135.5 242.6 39.5 35.8 455.2 -0.4 168.8 255.3 55.7 -24.2 227.6 0.3 59.3 125.8 53.9 -11.6 98.8 1.2 29.2 22.2 17.8 28.5 211.0 0.0 11.1 156.2 13.7 30.0 97.1 0.0 -92.8 129.3 54.4 6.2 17 18 19 20 21 22 1.8 0.3 0.6 0.8 1.3 -0.4 1.2 1.2 0.3 2.5 0.8 5.1 0.9 -0.1 1.3 -0.3 -1.8 5.4 -1.5 13.6 -0.5 -2.1 23 24 1.6 6.2 -0.2 5.5 -4.6 9.1 -2.5 11.3 -0.7 4.7 1.8 -35.9 0.8 27.1 -1.9 42.8 -3.7 -15.3 0.4 -44.1 -2.5 -10.9 25 26 142.6 359.0 385.2 327.8 412.6 508.7 717.3 331.7 92.8 282.0 373.8 27 28 29 30 31 32 Net interbank liabilities Federal Reserve float Borrowing from Federal Reserve banks To domestic banking To foreign banks -55.7 4.2 -0.1 -23.5 -36.3 4.2 -3.6 2.0 -6.7 12.6 20.4 0.9 -2.0 -2.6 24.0 32.6 -1.9 0.2 -12.1 46.3 18.3 1.1 -0.1 -12.5 29.8 31.2 0.1 0.0 -11.6 42.7 172.5 0.8 1.1 1.9 168.6 -32.7 1.5 -0.6 18.8 -52.5 -97.6 2.1 -1.0 -59.2 -39.5 69.8 -2.9 -0.4 82.2 -9.2 149.4 -2.2 0.5 117.4 33.7 28 29 30 31 32 33 34 35 36 Checkable deposits Federal government Rest of the world Private domestic -34.4 9.7 3.5 -47.5 -21.1 -0.9 4.4 -24.6 -34.4 -14.6 -1.2 -18.6 2.8 36.4 12.8 -46.4 -84.8 -33.2 -9.2 -42.4 -83.3 -30.5 -52.8 -0.0 -105.0 -22.6 3.6 -86.0 -55.5 -17.3 8.8 -47.0 -95.5 -62.3 3.6 -36.8 -23.3 4.3 3.6 -31.1 -0.7 -0.1 6.3 -7.0 33 34 35 36 37 38 39 Small time and savings deposits Large time deposits Federal funds and security RPs (net) 122.8 49.5 28.7 143.9 63.2 63.4 186.3 34.8 66.8 72.4 61.5 128.7 210.4 87.9 12.8 146.6 91.7 124.6 155.3 141.6 137.8 215.5 73.7 -33.2 324.3 44.6 -178.1 228.0 17.7 45.1 168.9 25.6 59.6 37 38 39 40 41 42 43 44 Acceptance liabilities Corporate bonds Other loans and advances Corporate equity issues Taxes payable 1.7 7.7 2.3 3.2 1.2 -0.3 10.7 19.1 3.2 1.4 -4.6 10.5 46.9 3.8 1.7 -2.5 3.7 40.6 3.2 1.9 -0.6 10.6 26.8 4.0 2.1 1.7 9.9 58.6 2.2 2.1 0.9 13.1 53.9 2.1 2.1 -1.8 9.2 6.2 3.9 2.2 -3.3 10.1 -11.4 7.9 2.2 0.1 13.9 39.0 3.3 2.3 -2.2 -3.7 -17.4 5.4 2.4 40 41 42 43 44 45 46 47 Miscellaneous liabilities Investment by bank holding companies Other 15.6 28.6 -13.0 71.2 40.7 30.5 53.0 55.3 -2.4 -17.1 2.9 -20.0 125.0 53.6 71.4 123.4 80.8 42.6 143.0 35.9 107.0 144.2 54.9 89.3 89.5 42.7 46.8 -113.9 65.5 -179.5 -13.4 103.8 -117.2 45 46 47 -10.1 39.6 22.1 -46.4 57.3 125.5 171.4 -37.0 -30.5 129.2 170.9 48 119.6 274.9 312.0 317.6 339.8 448.2 510.9 324.8 75.3 107.9 179.7 49 48 Discrepancy Memo: 49 Credit market funds advanced (2) (1) Included in other loans and advances (table F.216). (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 18, 2001 F.111 Foreign Banking Offices in U.S. (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 1 Gross saving 4.9 5.7 6.6 7.6 8.2 8.0 8.1 8.3 8.5 8.6 8.9 1 2 Fixed nonresidential investment 3.6 4.6 5.7 5.1 5.6 5.5 5.6 5.7 5.7 5.7 5.6 2 3 Net acquisition of financial assets 48.5 96.5 -4.8 -50.4 29.8 -150.3 109.3 60.2 100.1 -119.9 62.1 3 4 Reserves at Federal Reserve 5 Total bank credit 0.3 1.8 -1.9 0.4 -1.0 -3.9 0.6 -0.7 0.2 0.3 -0.3 4 70.0 60.2 1.4 -28.9 67.3 52.7 18.9 74.3 123.3 85.4 -114.2 5 6 7 8 9 10 U.S. government securities Treasury Agency Municipal securities Corporate and foreign bonds 30.9 18.4 12.4 0.0 3.2 26.8 14.4 12.5 0.0 3.1 -5.5 -10.3 4.8 0.0 5.8 11.8 7.5 4.3 0.0 -5.2 0.0 -0.6 0.6 0.0 7.6 -24.7 -21.5 -3.1 0.0 4.4 -25.4 -21.5 -4.0 0.0 -0.0 32.1 29.9 2.2 0.0 2.5 18.2 10.7 7.5 0.0 23.6 37.9 24.5 13.4 0.0 -14.7 -50.9 33.6 -84.5 0.0 95.7 6 7 8 9 10 11 12 13 14 15 Total loans Open market paper Bank loans n.e.c. Mortgages Security credit 36.0 0.5 32.2 -2.9 6.2 30.3 -0.2 19.2 -6.1 17.5 1.1 -0.1 -1.9 -5.5 8.6 -35.5 0.4 -22.3 -4.2 -9.4 59.7 -0.1 15.8 0.7 43.2 73.0 0.5 21.6 2.5 48.4 44.3 0.1 1.0 2.2 41.0 39.7 -0.4 0.3 -0.9 40.7 81.6 -0.5 40.1 -0.9 42.9 62.2 0.1 18.2 0.1 43.8 -159.0 0.0 -64.7 -1.4 -93.0 11 12 13 14 15 16 17 18 Corporate equities Customers’ liab. on acceptances (2) Miscellaneous assets -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16 -0.6 -21.2 -2.5 37.0 -4.7 0.4 -0.6 -21.3 -0.0 -36.5 0.2 -199.2 -0.2 90.0 -0.8 -12.7 0.7 -24.1 -0.4 -205.2 -1.5 178.2 17 18 19 Net increase in liabilities 50.6 98.9 -2.0 -47.2 33.4 -146.9 112.8 63.8 103.8 -116.0 66.1 19 20 21 22 Net interbank liabilities To foreign banks To domestic banks -2.5 -11.5 9.0 -30.4 -17.6 -12.7 -55.4 -51.7 -3.7 -41.2 -48.6 7.4 -41.6 -58.5 17.0 -125.2 -118.8 -6.4 -23.9 -22.3 -1.6 -96.3 -79.4 -16.9 79.1 -13.7 92.8 -163.9 -132.0 -31.9 70.0 -11.8 81.8 20 21 22 23 24 25 Checkable deposits Small time and savings deposits Large time deposits -0.7 0.1 55.6 0.8 4.4 44.7 -0.2 -3.6 36.5 0.4 -1.9 56.7 -0.3 1.4 5.6 -3.2 -1.3 36.7 4.2 1.8 -57.6 -5.0 -4.7 46.6 2.8 10.0 -3.4 -2.1 -5.2 70.6 1.1 23.2 4.9 23 24 25 26 27 Federal funds and security RPs (net) Acceptance liabilities 12.0 -0.7 25.6 -2.4 19.7 -4.8 -18.3 -0.4 52.4 -0.0 7.6 -0.2 59.3 -0.3 92.8 -0.4 49.8 0.7 22.1 -0.8 -118.3 -2.4 26 27 28 29 30 31 Miscellaneous liabilities Foreign direct investment in U.S. Due to affiliates Other -13.3 -0.1 13.7 -26.9 56.2 7.7 14.3 34.2 5.7 5.5 11.8 -11.5 -42.5 19.1 2.5 -64.1 15.9 9.6 45.6 -39.4 -61.3 20.4 86.1 -167.8 129.2 1.9 -0.1 127.3 30.8 3.3 21.5 6.0 -35.3 12.7 75.0 -123.0 -36.8 1.2 14.6 -52.6 87.4 15.6 -20.2 92.1 28 29 30 31 3.4 3.5 3.7 5.6 6.1 5.9 6.0 6.2 6.4 6.8 7.2 32 63.3 40.2 -11.9 -20.1 24.0 4.5 -22.3 32.8 81.1 41.3 -22.7 33 32 Discrepancy Memo: 33 Credit market funds advanced (3) (1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank. (2) Included in other loans and advances (table F.216). (3) Total bank credit (line 5) less security credit (line 15) less corporate equities (line 16) plus customers’ liability on acceptances (line 17). 27 Z.1, September 18, 2001 F.112 Bank Holding Companies Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 1 Gross saving 35.0 37.2 34.2 49.9 46.5 51.1 47.2 42.0 45.7 57.8 52.2 1 2 Fixed nonresidential investment 0.3 0.3 0.3 0.3 0.4 0.3 0.4 0.4 0.4 0.4 0.4 2 3 Net acquisition of financial assets 44.0 64.5 110.6 55.1 124.6 148.2 70.4 150.8 129.2 123.0 134.8 3 3.9 5.4 -0.9 6.2 -12.2 -42.2 3.5 -6.7 -3.2 7.3 -2.8 4 0.9 0.6 0.3 2.8 0.2 0.5 -0.1 0.6 5.0 -0.0 -1.9 -3.1 1.1 -0.7 1.7 6.6 7.9 -1.3 1.2 -1.6 -8.5 -7.9 -0.5 -2.8 -0.9 -33.8 -31.4 -2.4 -5.5 -2.9 1.5 0.6 0.9 -6.6 8.6 0.6 0.1 0.4 1.7 -9.0 -2.1 -1.1 -1.1 -0.6 -0.5 2.1 -0.3 2.4 0.8 4.3 -0.7 0.7 -1.4 -1.8 -0.2 5 6 7 8 9 40.1 28.6 0.3 11.3 59.0 40.7 25.0 -6.7 111.6 55.3 44.1 12.1 48.9 2.9 17.2 28.9 136.8 53.6 62.3 20.9 190.4 80.8 132.8 -23.2 67.0 35.9 2.2 28.8 157.5 54.9 56.0 46.6 132.4 42.7 58.3 31.4 115.7 65.5 55.3 -5.2 137.6 103.8 19.2 14.5 10 11 12 13 4 5 6 7 8 9 10 11 12 13 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 14 Net increase in liabilities 9.2 27.4 76.6 5.3 78.3 97.3 23.4 108.9 83.6 65.3 82.7 14 15 16 17 Net interbank liabilities To domestic banks To foreign banks 7.0 11.2 -4.1 0.3 -0.4 0.8 10.2 9.6 0.6 4.0 8.2 -4.3 30.1 12.9 17.2 125.3 43.3 82.0 -2.9 5.0 -7.9 -26.0 -14.1 -12.0 24.1 17.5 6.6 -115.4 -33.6 -81.8 -47.7 -186.3 138.7 15 16 17 18 Federal funds and security RPs (net) 0.4 0.0 0.5 0.1 -1.6 0.8 1.8 -0.4 -8.7 7.0 0.5 18 19 20 21 Credit market instruments Commercial paper Corporate bonds 2.0 1.9 0.1 19.0 6.0 13.0 24.9 7.8 17.1 25.8 9.1 16.7 23.2 1.2 22.0 8.3 -14.9 23.2 31.7 6.7 25.0 30.3 6.8 23.5 22.7 6.3 16.3 96.1 30.5 65.6 10.1 -2.8 12.8 19 20 21 22 23 24 25 Corporate equity issues Miscellaneous liabilities Equity, etc. Other -17.5 17.3 -11.9 29.2 -30.9 39.0 -13.1 52.1 -15.0 56.0 24.7 31.2 -13.8 -10.8 -38.6 27.8 -16.5 43.1 10.3 32.8 -28.3 -8.9 -0.4 -8.5 -18.1 10.9 -19.9 30.7 -6.7 111.8 27.7 84.1 -13.1 58.7 33.7 25.0 -11.4 88.9 35.1 53.8 -13.3 133.2 41.5 91.6 22 23 24 25 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.3 -0.3 -0.3 -0.2 26 26 Discrepancy F.113 Banks in U.S.-Affiliated Areas (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Gross saving 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 1 2 Fixed nonresidential investment 0.2 0.2 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 2 3 Net acquisition of financial assets 1.3 5.5 9.8 3.7 4.0 2.7 7.6 11.4 -5.5 -1.1 6.5 3 4 Checkable deposits and currency -0.2 -0.1 0.6 0.3 -0.5 -1.3 0.6 -2.6 1.2 0.6 -0.6 4 5 Credit market instruments 0.7 3.7 6.0 4.4 6.7 5.4 5.4 12.3 3.8 -3.6 4.2 5 6 7 8 9 10 U.S. government securities Treasury Agency Municipal securities Corporate and foreign bonds -1.0 -1.3 0.2 -0.1 -0.1 2.1 0.1 2.0 -0.0 0.1 3.2 -0.7 3.9 -0.1 0.5 2.6 -0.7 3.3 0.1 -0.5 3.3 -1.0 4.3 0.1 0.3 -0.4 -1.2 0.8 0.5 -0.4 1.1 -0.5 1.6 -0.0 0.0 6.7 -0.6 7.3 0.0 1.3 5.7 -1.7 7.4 0.1 0.3 -8.3 -2.6 -5.7 -1.4 3.0 -0.2 -0.5 0.3 -0.0 -1.2 6 7 8 9 10 11 12 13 Bank loans n.e.c. Home mortgages Commercial mortgages 1.4 0.6 -0.1 0.9 0.1 0.5 0.9 1.1 0.4 0.5 0.6 1.2 1.1 1.0 0.8 3.8 1.4 0.4 0.8 2.2 1.3 1.6 1.5 1.1 -1.7 -1.0 0.4 0.5 -8.1 10.6 1.3 1.8 2.5 11 12 13 0.8 1.8 3.1 -1.0 -2.1 -1.4 1.6 1.7 -10.5 1.9 2.9 14 14 15 Miscellaneous assets 1.4 5.1 9.4 3.8 3.4 2.2 7.2 10.8 -6.6 -2.3 6.0 15 16 17 18 Checkable deposits Small time and savings deposits Large time deposits 0.5 0.2 0.2 0.4 -0.0 -0.0 1.2 1.0 1.0 0.0 0.8 0.8 -0.1 1.4 1.4 -1.4 0.4 0.4 0.0 2.5 2.5 -0.3 2.3 2.3 1.2 0.5 0.5 -0.1 -0.6 -0.6 1.4 4.4 4.4 16 17 18 19 Miscellaneous liabilities 0.6 4.7 6.3 2.2 0.7 2.8 2.3 6.5 -8.8 -1.0 -4.3 19 0.0 -0.4 -0.4 0.1 -0.6 -0.5 -0.4 -0.6 -1.1 -1.2 -0.5 20 20 Net increase in liabilities Discrepancy (1) Commercial banks and branches of U.S.-chartered commercial banks located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas. 28 Z.1, September 18, 2001 F.114 Savings Institutions (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 1 Gross saving 0.5 2.9 4.2 7.2 9.0 8.7 9.2 9.1 9.2 9.3 9.5 1 2 Fixed nonresidential investment 3.5 3.8 4.1 3.4 3.7 3.6 3.7 3.8 3.8 3.8 3.7 2 3 Net acquisition of financial assets 16.1 -8.4 60.8 63.0 67.2 42.9 82.6 82.4 60.9 156.7 72.2 3 4 5 6 7 Reserves at Federal Reserve Checkable deposits and currency Time and savings deposits Federal funds and security RPs -0.5 -1.3 0.3 -1.2 -0.5 1.0 -0.4 -0.8 0.1 3.2 0.5 5.5 0.1 1.7 -0.1 -4.2 -1.0 -0.4 0.1 4.3 -1.8 -15.3 2.4 3.7 0.1 4.7 -2.4 2.0 -1.9 -0.1 -0.8 10.7 -0.5 9.0 1.2 0.7 0.0 -0.2 1.2 27.1 0.0 8.2 2.6 1.3 4 5 6 7 8 Credit market instruments 19.9 -4.7 36.1 68.6 56.5 55.6 65.0 62.7 42.5 52.5 56.2 8 9 10 11 12 Open market paper U.S. government securities Treasury Agency 0.1 -9.5 -1.0 -8.5 -0.3 -3.6 -2.8 -0.8 0.0 -16.1 -4.4 -11.7 0.0 3.7 -0.0 3.7 0.0 -8.1 -1.4 -6.7 0.0 -21.0 -0.8 -20.2 0.0 -12.4 -3.3 -9.1 0.0 -2.8 -1.4 -1.5 0.0 3.9 -0.2 4.1 0.0 16.5 -3.0 19.4 0.0 18.9 -2.1 21.0 9 10 11 12 13 14 15 16 17 Municipal securities Corporate and foreign bonds Other loans and advances Mortgages Consumer credit 0.1 -9.9 3.0 31.6 4.6 0.0 -9.9 3.1 3.5 2.5 0.4 29.9 5.3 12.1 4.4 0.5 23.3 6.5 24.7 9.9 0.2 -2.5 8.7 55.2 3.0 0.3 15.0 11.2 60.3 -10.2 -0.2 -20.5 7.8 82.4 7.9 -0.0 -13.2 10.1 62.4 6.3 0.6 8.7 5.7 15.5 8.1 2.9 -54.0 8.2 75.2 3.8 0.3 -11.5 9.6 39.5 -0.7 13 14 15 16 17 0.6 -1.8 0.2 -3.2 1.5 13.8 -0.7 -2.5 0.4 7.4 1.5 -3.1 -1.3 14.5 1.5 10.3 0.1 8.0 4.7 71.3 3.0 0.9 18 19 18 19 Corporate equities Miscellaneous assets 20 Net increase in liabilities 15.4 -9.5 57.6 61.8 66.3 41.0 82.4 79.0 62.7 152.7 71.2 20 21 22 23 24 Deposits Checkable Small time and savings Large time -6.5 25.4 -38.1 6.3 -25.7 27.1 -64.4 11.7 -2.6 36.1 -54.3 15.7 6.8 37.2 -38.9 8.5 27.5 43.1 -35.5 19.9 25.1 45.2 -47.4 27.3 16.8 42.8 -35.1 9.0 54.0 40.6 -19.0 32.3 14.3 43.9 -40.7 11.0 98.7 51.1 6.7 40.9 31.8 53.2 -37.5 16.1 21 22 23 24 25 Security RPs -0.9 -1.9 9.5 21.4 -6.1 3.2 6.0 24.6 -58.1 1.8 9.9 25 26 27 28 29 Credit market instruments Corporate bonds Bank loans n.e.c. Other loans and advances 25.5 -0.4 1.4 24.5 19.7 0.1 3.5 16.2 52.2 -0.2 10.3 42.1 48.0 0.2 -15.7 63.5 27.3 3.5 7.4 16.3 57.5 -0.0 25.4 32.1 69.0 0.0 3.5 65.5 -37.9 2.6 -1.9 -38.6 20.4 11.5 2.7 6.3 62.5 -14.0 4.6 71.9 16.2 14.5 -3.7 5.4 26 27 28 29 30 31 32 33 Taxes payable Miscellaneous liabilities Investment by parent Other -0.1 -2.5 0.2 -2.7 0.4 -2.1 0.3 -2.4 0.2 -1.6 0.4 -2.1 0.0 -14.4 0.5 -15.0 0.4 17.1 0.7 16.5 -1.4 -43.5 0.6 -44.1 0.3 -9.6 0.6 -10.2 1.5 36.8 0.7 36.1 1.3 84.8 0.7 84.1 -0.7 -9.5 0.7 -10.3 -0.9 14.2 0.8 13.5 30 31 32 33 -3.6 -1.9 -3.0 2.6 4.4 3.1 5.3 1.9 7.2 1.6 4.8 34 34 Discrepancy (1) Savings and loan associations, mutual savings banks, and federal savings banks. 29 Z.1, September 18, 2001 F.115 Credit Unions Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 1 Gross saving 6.3 5.2 5.4 5.9 6.8 6.4 6.7 6.9 7.1 6.5 6.6 1 2 Fixed nonresidential investment 1.8 2.2 2.6 2.3 2.5 2.4 2.5 2.5 2.5 2.5 2.5 2 3 Net acquisition of financial assets 19.5 23.7 37.7 23.0 26.5 28.3 7.5 40.9 29.5 61.8 53.5 3 4 5 6 Checkable deposits and currency Time and savings deposits Federal funds and security RPs 0.1 -0.7 -4.9 0.6 0.6 2.0 1.0 6.4 3.4 17.3 -6.8 2.4 -14.2 0.5 -5.3 1.1 2.6 -11.4 0.9 -8.7 -18.9 -28.7 -0.7 31.8 -30.2 8.6 -22.7 12.7 6.1 16.0 25.5 -6.3 -1.5 4 5 6 7 Credit market instruments 25.5 16.8 19.0 27.5 30.5 35.7 31.6 21.2 33.6 3.9 24.6 7 8 9 10 11 Open market paper U.S. government securities Treasury Agency -0.3 4.1 -0.9 4.9 -0.1 -1.4 -1.8 0.4 0.2 4.9 -2.5 7.3 1.5 -0.6 -3.5 2.9 -0.6 -1.8 -1.4 -0.4 -4.1 6.7 -1.0 7.7 -2.0 -3.2 -2.1 -1.1 3.6 -15.8 -1.0 -14.8 -0.0 5.3 -1.5 6.8 -0.4 -0.3 -3.4 3.1 1.8 0.3 -3.3 3.5 8 9 10 11 12 13 Home mortgages Consumer credit 9.5 12.2 10.1 8.2 10.9 3.0 14.1 12.5 16.4 16.5 16.2 16.9 15.8 20.9 17.2 16.2 16.3 12.0 -1.1 5.6 12.5 10.0 12 13 14 15 Mutual fund shares Miscellaneous assets -0.3 -0.2 -0.2 3.8 1.2 6.8 -1.1 -16.3 -0.3 15.4 2.7 -2.4 -3.8 6.3 -0.2 17.5 0.0 40.1 -0.9 24.0 6.4 4.9 14 15 16 Net increase in liabilities 16.4 20.5 34.7 20.8 22.0 23.6 4.9 35.7 23.8 57.1 50.6 16 17 18 19 20 Shares/deposits Checkable Small time and savings Large time 16.3 1.6 12.3 2.4 20.3 4.1 13.2 2.9 33.6 6.4 23.1 4.1 17.7 2.3 12.3 3.1 22.4 5.9 13.0 3.5 28.1 23.7 6.4 -2.0 0.7 -3.5 -1.6 5.7 30.3 1.9 30.5 -2.0 30.6 1.4 16.7 12.4 77.1 15.8 59.4 2.0 44.9 -4.0 34.0 14.9 17 18 19 20 21 22 Other loans and advances Miscellaneous liabilities 0.1 0.0 0.1 0.1 0.6 0.5 2.2 0.9 0.0 -0.4 -2.9 -1.5 0.9 3.3 1.1 4.3 1.0 -7.8 -0.6 -19.4 0.8 4.8 21 22 1.4 -0.2 -0.1 1.4 -0.3 -0.7 1.6 -0.9 -1.1 -0.8 1.2 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 -7.3 -44.7 -41.6 -8.2 -30.6 -29.5 -34.3 -30.0 -28.7 -26.6 -23.0 1 2 3 4 5 Deposits Checkable deposits and currency Time and savings deposits Money market fund shares 6.4 0.3 -1.6 7.8 -2.9 0.0 1.0 -4.0 6.2 -0.5 -2.1 8.8 8.4 -0.1 0.9 7.5 4.3 -0.0 0.6 3.7 4.2 -0.0 1.0 3.2 5.2 -0.0 0.8 4.4 3.2 -0.0 0.4 2.8 4.6 -0.0 0.3 4.3 3.8 -0.0 0.5 3.4 4.2 -0.0 0.3 4.0 2 3 4 5 6 Credit market instruments -7.7 -25.0 -12.8 27.8 17.1 18.9 13.8 17.6 18.1 10.7 13.4 6 7 8 9 10 Open market paper U.S. government securities Treasury Agency -2.6 0.5 -1.8 2.3 -0.2 -10.1 -5.4 -4.7 -4.5 -4.4 -3.1 -1.4 0.6 5.7 -0.0 5.7 0.6 3.8 -0.8 4.6 0.7 3.2 -0.9 4.0 0.4 3.4 -0.9 4.3 0.8 4.2 -0.7 4.9 0.5 4.5 -0.7 5.2 -4.2 1.9 -1.4 3.3 -3.7 2.7 -1.2 3.9 7 8 9 10 11 12 13 Municipal securities Corporate and foreign bonds Mortgages -4.3 -1.7 0.3 -13.3 -0.8 -0.6 -1.1 -2.6 -0.2 10.8 11.3 -0.6 4.7 8.1 -0.1 7.2 8.0 -0.1 3.6 6.6 -0.2 5.2 7.6 -0.2 3.0 10.2 -0.1 3.1 10.1 -0.1 2.0 12.4 -0.0 11 12 13 -17.3 7.3 -0.5 -14.9 -70.4 27.0 -40.4 -1.5 -20.0 -30.5 -20.0 -30.5 -20.0 -30.5 -20.0 -30.5 -20.0 -30.5 -20.0 -20.0 -20.0 -20.0 14 15 3.9 -1.4 8.4 -2.5 -1.5 -2.1 -2.8 -0.2 -0.9 -1.1 -0.7 16 -5.3 -49.9 -41.8 -6.5 -29.7 -28.4 -33.1 -29.2 -28.0 -26.1 -22.7 17 2.1 -5.3 -0.2 1.7 0.9 1.1 1.2 0.8 0.7 0.5 0.3 18 14 15 Corporate equities Mutual fund shares 16 Miscellaneous assets 17 Net increase in liabilities (2) 18 Discrepancy (1) Includes personal trusts and estates administered by nondeposit noninsured trust companies. (2) Equal to the net acquisition of tangible and financial assets. These liabilities are assets of the household sector. 30 Z.1, September 18, 2001 F.117 Life Insurance Companies Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 1 Gross saving 2.5 -5.9 -7.5 -0.3 0.7 0.3 0.9 0.8 0.7 0.7 1.9 1 2 Fixed nonresidential investment 11.1 11.4 12.0 11.2 12.3 11.9 12.3 12.5 12.5 12.4 12.3 2 3 Net acquisition of financial assets 125.4 213.7 187.0 169.3 203.5 218.3 210.6 230.3 154.8 259.7 226.6 3 4 5 Checkable deposits and currency Money market fund shares -0.9 39.1 3.8 32.6 -2.7 17.6 0.0 23.4 -0.5 8.5 -5.6 5.3 6.4 -5.7 -7.9 11.8 5.2 22.6 51.5 89.5 -11.1 88.2 4 5 6 Credit market instruments 69.6 104.8 76.9 53.5 57.9 65.0 52.9 74.8 38.8 95.3 101.2 6 2.9 -13.6 -14.9 1.3 17.5 -1.4 1.6 -3.0 7.5 -23.7 -14.1 -9.6 2.0 -2.3 -9.3 7.0 -4.5 6.3 -4.6 11.0 -15.1 10.5 -4.0 14.6 12.2 2.3 -5.0 7.3 -3.1 8.7 -4.1 12.8 -12.2 3.9 -5.4 9.3 -41.1 15.6 -17.3 32.9 -21.6 1.4 -20.1 21.5 7 8 9 10 1.5 79.2 4.5 -5.0 0.1 86.8 3.2 -1.3 1.7 84.5 0.1 6.8 1.7 41.5 -5.0 15.7 -1.0 49.0 2.9 5.2 -0.5 76.9 -1.3 -5.7 -1.4 23.1 3.6 13.0 -0.9 55.8 5.8 8.5 -1.2 40.2 3.2 4.8 1.6 118.8 4.0 -3.6 3.2 113.4 0.8 4.0 11 12 13 14 46.7 2.4 86.3 -7.2 115.3 -23.4 111.9 15.0 105.9 11.0 126.4 12.0 127.1 12.4 97.7 10.1 72.5 9.6 93.6 2.0 78.0 2.0 15 16 -31.4 -6.7 3.5 -34.6 20.7 15.2 17.6 43.8 6.2 -72.2 -31.8 17 7 8 9 10 Open market paper U.S. government securities Treasury Agency 11 12 13 14 Municipal securities Corporate and foreign bonds Policy loans Mortgages 15 16 Corporate equities Mutual fund shares 17 Miscellaneous assets 18 Net increase in liabilities 92.1 186.0 173.1 152.9 189.3 188.9 209.5 210.6 148.1 200.7 186.5 18 19 20 21 22 Corporate equity issues Other loans and advances Life insurance reserves Pension fund reserves (1) -8.8 1.1 43.8 27.0 -4.0 0.2 57.6 95.0 -4.7 0.7 46.7 86.4 -6.0 0.7 49.4 70.7 -0.8 -0.7 48.7 121.8 -6.2 -0.7 53.7 104.2 12.9 -1.1 43.0 132.3 -4.9 -0.3 52.7 132.1 -4.8 -0.7 45.5 118.6 -5.8 -2.4 52.0 94.3 -5.3 0.1 57.3 101.0 19 20 21 22 23 24 Taxes payable Miscellaneous liabilities 0.5 28.5 1.2 36.0 1.2 42.8 1.3 36.8 1.6 18.6 1.4 36.5 1.6 20.9 1.6 29.5 1.8 -12.3 1.8 60.9 1.9 31.4 23 24 -41.9 -45.0 -33.6 -27.9 -25.8 -41.0 -12.5 -31.4 -18.5 -70.7 -50.5 25 25 Discrepancy (1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 24). F.118 Other Insurance Companies Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Gross saving 1.9 0.9 3.5 3.2 4.9 4.2 4.8 5.9 4.6 4.7 -7.8 1 2 Fixed nonresidential investment 7.5 9.3 10.8 11.0 12.1 11.8 12.1 12.3 12.2 12.0 11.9 2 3 Net acquisition of financial assets 16.2 37.1 16.5 -12.6 10.0 16.2 -14.7 8.5 29.9 13.3 9.8 3 4 5 Checkable deposits and currency Security RPs -0.9 -2.1 0.3 -0.2 -0.2 7.4 0.2 -14.4 -0.6 10.0 -4.5 26.1 -1.7 1.9 1.4 2.0 2.4 10.0 27.5 -42.0 -4.0 5.0 4 5 6 Credit market instruments 22.5 25.2 5.8 -3.0 -8.7 -11.2 -18.1 6.2 -11.7 2.1 2.8 6 -9.7 -12.6 2.8 3.8 2.1 1.7 -21.9 -20.8 -1.2 -3.9 -9.7 5.9 0.0 -8.6 8.6 -1.4 -9.2 7.9 -1.8 -9.3 7.5 4.1 -6.9 10.9 -0.8 -8.8 7.9 -11.5 -15.8 4.3 -6.0 -16.0 10.0 7 8 9 14.4 18.3 -0.4 2.6 18.9 -0.2 16.5 11.6 -0.3 -9.1 10.0 -0.0 -14.9 6.4 -0.3 -17.0 4.7 2.5 -17.5 4.0 -2.8 -9.1 11.9 -0.7 -15.9 5.2 -0.2 4.7 8.8 0.0 3.0 6.0 -0.2 10 11 12 -6.8 -0.1 3.6 3.0 2.7 6.1 -5.0 1.6 6.9 -1.7 2.0 4.2 0.7 1.0 7.5 -9.3 10.0 5.2 -11.8 4.5 10.5 -16.4 6.1 9.2 40.4 -16.5 5.3 6.0 12.1 7.6 0.4 4.0 1.6 13 14 15 7 8 9 10 11 12 13 14 15 U.S. government securities Treasury Agency Municipal securities Corporate and foreign bonds Commercial mortgages Corporate equities Trade receivables Miscellaneous assets 16 Net increase in liabilities 10.0 -1.2 2.9 6.7 3.7 -3.7 20.8 19.3 -21.7 15.1 6.5 16 17 18 19 Corporate equity issues Taxes payable Miscellaneous liabilities -4.8 2.5 12.3 -13.7 1.8 10.7 -4.7 2.0 5.6 -7.8 2.0 12.4 -4.5 2.3 5.9 -13.1 2.0 7.4 -1.5 2.2 20.1 -1.0 2.3 17.9 -2.4 2.5 -21.8 -1.8 2.6 14.4 -2.0 2.7 5.8 17 18 19 -11.8 -46.7 -21.0 11.5 -13.5 -27.5 28.3 4.4 -59.2 -5.4 -22.9 20 20 Discrepancy 31 Z.1, September 18, 2001 F.119 Private Pension Funds (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 1 Gross saving 0.5 0.6 0.7 0.8 0.9 0.8 0.8 0.9 0.9 0.9 0.9 1 2 Fixed nonresidential investment 1.4 1.5 1.9 1.9 2.2 2.0 2.1 2.2 2.3 2.4 2.3 2 3 Net acquisition of financial assets 4.6 -11.4 11.8 11.6 18.6 5.5 21.3 13.5 34.1 21.6 14.6 3 4 5 6 7 Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 0.6 5.3 10.8 4.6 1.3 7.5 13.1 0.9 0.2 1.5 1.9 1.0 1.2 -4.0 11.7 0.4 0.7 2.0 5.9 0.9 0.5 -0.7 1.8 0.5 0.5 5.4 0.3 0.5 1.3 -0.8 12.1 1.3 0.4 4.0 9.4 1.3 1.0 -3.9 9.7 -3.6 0.3 -4.4 10.0 1.3 4 5 6 7 8 Credit market instruments -4.1 47.6 56.4 45.0 41.3 46.8 24.7 64.9 28.7 26.1 20.2 8 5.6 -13.3 -2.7 -10.5 1.2 11.8 4.1 7.7 2.9 34.6 -4.4 39.0 3.7 30.0 -0.6 30.6 -1.8 26.9 -0.8 27.7 -7.6 39.2 -3.1 42.3 0.4 12.7 7.3 5.4 1.2 36.8 0.3 36.6 -1.2 18.8 -7.7 26.5 -13.2 3.1 -26.2 29.3 -8.5 -14.1 -8.2 -5.9 9 10 11 12 2.9 0.6 33.8 0.7 17.1 1.9 9.3 1.9 14.5 1.7 13.2 2.1 10.2 1.4 25.1 1.7 9.6 1.4 34.7 1.5 41.7 1.2 13 14 -71.5 23.0 -137.8 42.7 -113.0 31.7 -92.2 30.7 -80.8 32.4 -102.4 43.7 -62.4 34.8 -114.4 26.6 -44.2 24.5 -40.5 26.8 -46.2 11.5 15 16 9 10 11 12 Open market paper U.S. government securities Treasury Agency 13 14 Corporate and foreign bonds Mortgages 15 16 Corporate equities Mutual fund shares 17 18 19 20 Miscellaneous assets Unallocated insurance contracts (2) Contributions receivable Other 35.9 14.4 4.1 17.4 13.5 -1.0 7.1 7.4 32.0 21.4 1.9 8.7 18.9 13.4 1.0 4.5 16.3 9.1 1.0 6.2 15.3 9.4 1.0 4.9 17.5 7.2 1.0 9.3 22.5 14.8 1.0 6.7 10.0 4.9 1.0 4.1 6.0 3.2 1.0 1.8 21.9 16.3 1.0 4.6 17 18 19 20 21 Pension fund reserves (liabilities) (3) 5.5 -10.4 13.0 12.8 19.9 6.7 22.6 14.8 35.5 23.1 16.1 21 (1) Private defined benefit plans and defined contribution plans (including 401(k) type plans). Also includes the Federal Employees Retirement System Thrift Savings Plan. (2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4. (3) Equal to the net acquisition of tangible and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector. F.120 State and Local Government Employee Retirement Funds Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Gross saving 0.5 0.6 0.7 0.8 0.8 0.8 0.8 0.9 0.9 0.9 0.9 1 2 Fixed nonresidential investment 1.4 1.5 1.8 1.9 2.1 2.0 2.1 2.2 2.2 2.3 2.3 2 3 Net acquisition of financial assets 59.9 75.6 60.4 58.8 53.1 60.7 65.4 42.8 43.4 19.3 33.7 3 4 5 6 Checkable deposits and currency Time and savings deposits Security RPs 3.3 -2.2 -3.3 -2.2 0.1 0.4 4.7 -0.4 8.9 -0.7 -0.3 2.8 -0.1 -0.6 4.3 7.4 2.9 20.1 5.5 1.3 5.8 -1.7 6.9 -6.8 -11.7 -13.5 -1.8 -7.6 -1.0 -8.7 3.1 4.7 -4.1 4 5 6 7 Credit market instruments 35.8 67.1 72.1 46.9 49.6 63.3 31.5 37.6 66.1 13.3 17.7 7 8 9 10 11 Open market paper U.S. government securities Treasury Agency -3.3 17.3 11.8 5.5 0.4 31.8 13.4 18.4 8.9 19.9 0.8 19.1 2.8 16.4 -6.6 22.9 4.3 17.1 -15.5 32.6 20.1 -18.2 -0.3 -17.9 5.8 56.2 -2.5 58.7 -6.8 7.5 -39.2 46.8 -1.8 22.9 -19.8 42.7 -8.7 -9.0 -1.5 -7.5 -4.1 -1.2 -17.3 16.1 8 9 10 11 12 13 14 Municipal securities Corporate and foreign bonds Mortgages -1.3 22.2 0.8 0.9 33.1 0.9 1.7 35.1 6.5 -0.2 30.4 -2.6 -1.5 29.7 -0.0 -0.5 61.1 0.9 -0.4 -27.2 -2.9 -2.5 37.5 1.9 -2.3 47.3 0.1 0.7 27.8 2.5 -1.0 21.4 2.6 12 13 14 18.2 8.2 9.4 0.7 -28.2 3.3 -6.2 16.3 -8.9 8.8 -27.9 -5.0 8.0 13.3 -3.8 10.6 -11.9 16.3 7.8 15.4 6.9 5.4 15 16 60.8 76.5 61.5 59.9 54.3 61.8 66.6 44.1 44.8 20.8 35.1 17 15 16 17 Corporate equities Miscellaneous assets Pension fund reserves (liabilities) (1) (1) Equal to the net acquisition of tangible and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector. 32 Z.1, September 18, 2001 F.121 Money Market Mutual Funds (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 Q1 2001 Q2 Q3 Q4 Q1 Q2 1 Net acquisition of financial assets 145.4 155.9 287.2 249.1 233.3 239.7 71.5 250.9 371.1 621.4 322.5 1 2 3 4 5 Foreign deposits Checkable deposits and currency Time and savings deposits Security RPs 3.4 2.4 30.4 16.0 0.1 2.6 28.6 22.8 7.4 -2.6 15.7 12.9 12.2 -1.2 33.3 0.1 48.2 4.5 -23.8 43.4 54.1 -3.2 -10.8 55.1 68.3 -2.4 -130.3 31.9 8.0 14.7 16.9 16.6 62.5 8.8 29.0 69.9 87.1 -24.4 147.1 71.5 -10.1 4.2 -7.3 -5.6 2 3 4 5 6 Credit market instruments 88.8 87.5 244.0 182.0 148.9 161.5 -118.2 256.1 296.0 303.4 166.2 6 7 8 9 10 Open market paper U.S. government securities Treasury Agency 38.4 31.3 20.3 11.0 62.1 -9.5 -4.0 -5.5 78.2 95.0 17.5 77.5 104.7 17.3 0.1 17.1 95.5 -19.1 -13.3 -5.8 131.5 -80.4 -7.5 -72.9 -13.0 -93.3 -34.8 -58.5 134.2 15.1 -0.1 15.2 129.1 82.3 -10.9 93.2 3.3 286.8 35.5 251.3 17.1 116.6 37.0 79.7 7 8 9 10 11 12 Municipal securities Corporate and foreign bonds 16.8 2.4 22.5 12.5 26.0 44.8 17.5 42.5 34.3 38.2 30.8 79.7 24.2 -36.1 29.8 77.0 52.6 32.1 14.3 -1.1 39.2 -6.8 11 12 4.4 14.3 9.6 22.6 12.2 -17.1 222.3 -61.4 -95.2 36.7 175.1 13 145.4 155.9 287.2 249.1 233.3 239.7 71.5 250.9 371.1 621.4 322.5 14 13 14 Miscellaneous assets Net share issues (liabilities) (1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.117). F.122 Mutual Funds (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Gross saving 2 Net acquisition of financial assets 5.6 8.0 -8.4 6.9 1.7 7.6 0.5 0.2 -1.6 -2.8 -2.2 1 237.6 265.1 274.6 188.3 243.9 307.3 232.0 279.4 156.7 96.4 283.8 2 3 Security RPs -2.7 10.3 10.4 8.5 26.7 2.6 60.6 39.6 3.8 -67.0 18.4 3 4 Credit market instruments 48.9 80.9 124.8 47.2 26.8 -66.9 63.1 50.1 60.8 69.4 130.9 4 Open market paper U.S. government securities Treasury Agency -3.1 15.1 8.9 6.2 10.6 19.5 11.0 8.4 10.4 26.1 5.2 21.0 8.5 12.5 6.2 6.3 26.7 10.3 4.0 6.3 13.2 -32.8 -14.6 -18.2 43.2 29.1 12.3 16.7 31.3 7.7 3.2 4.5 19.0 37.3 15.0 22.3 -53.5 43.1 17.1 25.9 -15.6 69.0 26.0 43.0 5 6 7 8 Municipal securities Corporate and foreign bonds 3.1 33.8 6.5 44.4 22.8 65.5 -3.2 29.3 -8.9 -1.3 -28.3 -19.0 -17.9 8.7 2.0 9.2 8.5 -4.0 22.0 57.8 15.0 62.4 9 10 193.0 -1.7 166.8 7.1 143.3 -3.9 136.9 -4.3 190.9 -0.5 378.2 -6.6 108.4 -0.0 186.9 2.9 90.3 1.8 99.6 -5.6 134.7 -0.2 11 12 237.6 265.1 274.6 188.3 243.9 307.3 232.0 279.4 156.7 96.4 283.8 13 5.6 8.0 -8.4 6.9 1.7 7.6 0.5 0.2 -1.6 -2.8 -2.2 14 5 6 7 8 9 10 11 12 Corporate equities Miscellaneous assets 13 Net share issues (liabilities) 14 Discrepancy (1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.117). F.123 Closed-End Funds Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 2 3 4 5 6 7 Net acquisition of financial asssets Credit market instruments U.S. government securities Municipal securities Corporate and foreign bonds Corporate equities Net share issues (liabilities) 3.0 -7.7 -7.8 -2.8 -8.1 -8.1 -8.1 -8.1 -8.1 -8.1 -8.1 1 4.6 -2.6 5.5 7.4 -8.4 -8.4 -8.4 -8.4 -8.4 -8.4 -8.4 2 0.2 1.3 3.2 -1.2 -0.8 -0.5 -0.9 1.9 4.5 -1.3 8.7 -0.0 -0.3 -4.6 -3.5 -0.3 -4.6 -3.5 -0.3 -4.6 -3.5 -0.3 -4.6 -3.5 -0.3 -4.6 -3.5 -0.3 -4.6 -3.5 -0.3 -4.6 -3.5 3 4 5 -1.6 -5.1 -13.3 -10.2 0.4 0.4 0.4 0.4 0.4 0.4 0.4 6 3.0 -7.7 -7.8 -2.8 -8.1 -8.1 -8.1 -8.1 -8.1 -8.1 -8.1 7 33 Z.1, September 18, 2001 F.124 Government-Sponsored Enterprises (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 1 Gross saving 1.7 1.9 2.1 2.0 1.7 1.6 1.7 1.9 1.7 1.7 1.7 1 2 Fixed nonresidential investment 0.3 0.3 0.4 0.3 0.4 0.4 0.4 0.4 0.4 0.4 0.4 2 3 Net acquisition of financial assets 91.7 110.8 304.4 316.7 248.8 126.8 239.2 278.9 350.3 351.6 272.3 3 4 5 Checkable deposits and currency Federal funds and security RPs -0.8 -11.8 1.2 -4.1 2.5 -13.4 7.4 12.7 -9.7 -1.7 -44.2 3.4 2.1 -39.0 -0.7 51.4 4.3 -22.5 -0.3 60.4 2.6 -33.1 4 5 6 Credit market instruments 97.4 106.6 314.6 291.7 240.9 205.4 250.9 188.6 318.8 347.8 302.4 6 9.6 54.3 -12.9 67.2 -1.1 76.1 7.1 69.0 26.9 162.3 -0.7 163.1 -27.1 184.5 5.8 178.7 16.8 136.2 -8.9 145.0 17.0 97.3 -23.2 120.5 -13.1 56.4 -18.0 74.4 29.7 148.0 -6.5 154.6 33.4 242.8 12.2 230.6 -48.9 239.3 4.9 234.4 40.1 164.0 8.3 155.7 7 8 9 10 7 8 9 10 Open market paper U.S. government securities Treasury Agency 11 12 Municipal securities Corporate and foreign bonds 0.0 10.8 -0.4 5.3 4.1 20.7 1.4 23.7 -1.8 25.8 -5.7 11.0 -0.1 49.1 3.0 29.5 -4.5 13.6 4.7 31.7 8.3 54.4 11 12 13 14 15 16 Other loans and advances Sallie Mae Farm Credit System FHLB loans 28.8 -1.7 1.4 29.1 31.2 -5.3 0.0 36.4 92.3 -1.4 3.3 90.4 113.6 5.1 0.9 107.6 41.3 -3.9 3.1 42.1 79.0 -8.8 0.9 86.9 119.9 -1.8 3.2 118.5 -39.0 -11.1 4.0 -31.9 5.5 6.2 4.3 -5.0 109.3 2.4 -0.8 107.8 -0.6 4.7 5.6 -10.9 13 14 15 16 17 18 19 20 Mortgages Home Multifamily residential Farm -6.1 -6.7 -0.5 1.1 -4.5 -4.2 -1.2 1.0 8.3 5.3 0.8 2.2 -4.3 -10.3 4.8 1.1 22.7 15.8 4.9 2.0 6.8 1.8 5.2 -0.2 38.6 31.4 4.6 2.6 17.3 11.3 3.3 2.7 28.0 18.5 6.6 2.9 11.6 4.7 4.1 2.8 36.3 22.7 7.5 6.1 17 18 19 20 6.8 7.1 0.7 5.0 19.2 -37.9 25.3 39.6 49.6 -56.3 0.4 21 90.7 106.2 298.6 312.1 241.5 122.9 233.0 270.5 339.5 344.4 260.4 22 90.4 90.4 0.0 98.4 98.4 0.0 278.3 278.3 0.0 318.2 318.2 0.0 234.1 234.1 0.0 104.9 104.9 0.0 248.9 248.9 0.0 278.1 278.1 0.0 304.5 304.5 0.0 262.3 262.3 0.0 264.7 264.7 0.0 23 24 25 0.3 7.8 20.3 -6.0 7.4 18.0 -15.8 -7.6 35.0 82.1 -4.3 26 0.5 -3.0 -4.1 -3.0 -6.0 -2.6 -4.9 -6.9 -9.4 -5.9 -10.7 27 21 22 23 24 25 26 27 Miscellaneous assets Net increase in liabilities Credit market instruments GSE issues (2) U.S. government loans Miscellaneous liabilities Discrepancy (1) Federal Home Loan Banks, Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Farm Credit System, the Financing Corporation, the Resolution Funding Corporation, and the Student Loan Marketing Association (Sallie Mae), which is a subsidiary of USA Education, Inc., a private company chartered in 1997. (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 141.0 114.6 192.6 273.8 199.4 119.5 132.2 236.7 309.1 170.3 406.5 1 2 3 4 5 Home mortgages Multifamily residential mortgages Commercial mortgages Farm mortgages 135.4 5.6 -0.0 -0.0 109.3 5.3 -0.0 -0.0 182.1 10.5 0.0 -0.0 264.6 9.2 0.0 -0.0 190.9 8.5 0.0 0.0 113.0 6.5 0.0 0.0 124.5 7.7 0.0 0.0 228.9 7.8 0.0 0.0 297.0 12.0 0.0 0.0 157.2 13.1 0.0 0.0 387.4 19.2 0.0 0.0 2 3 4 5 141.0 114.6 192.6 273.8 199.4 119.5 132.2 236.7 309.1 170.3 406.5 6 6 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. 34 Z.1, September 18, 2001 F.126 Issuers of Asset-Backed Securities (ABSs) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 1 Gross saving 0.7 0.9 1.2 1.2 1.1 1.1 1.1 1.0 1.0 1.0 0.9 1 2 Fixed nonresidential investment 6.0 3.1 3.0 -1.7 -2.0 -2.4 -2.6 -1.7 -1.3 -0.8 -0.9 2 3 Net acquisition of financial assets 145.5 200.1 319.6 226.3 199.3 178.4 149.7 158.9 310.2 291.6 173.6 3 4 Agency securities (1) 4.9 3.6 38.2 41.3 2.8 21.6 -0.7 -1.9 -7.6 39.5 -43.9 4 5 6 7 Other loans and advances Student loans Loans to business 13.3 5.3 8.1 32.2 7.8 24.4 27.6 3.8 23.8 9.2 1.5 7.7 21.2 6.5 14.7 44.9 13.6 31.3 4.6 6.8 -2.3 -4.5 8.8 -13.2 39.9 -3.3 43.2 -0.7 2.5 -3.2 5.0 -0.1 5.1 5 6 7 8 9 10 11 Mortgages (2) Home Multifamily residential Commercial 48.1 31.8 4.0 12.2 80.7 54.5 5.0 21.3 156.5 94.5 12.8 49.2 92.0 49.9 8.5 33.6 85.2 44.8 7.3 33.1 54.4 34.0 3.4 17.1 74.2 33.5 5.4 35.3 83.5 51.0 6.9 25.7 128.6 60.8 13.5 54.3 115.3 93.9 4.9 16.5 179.6 63.6 24.9 91.1 8 9 10 11 12 13 Consumer credit Trade credit 54.2 25.0 47.2 36.3 59.4 37.9 62.6 21.1 57.1 33.0 33.3 24.2 33.4 38.4 43.8 38.0 118.1 31.3 115.7 21.8 18.7 14.2 12 13 150.8 202.2 321.4 223.4 196.3 175.0 146.0 156.2 307.9 289.8 171.8 14 45.4 105.4 89.4 112.9 125.7 195.7 139.0 84.4 121.0 75.2 136.5 38.4 125.5 20.6 102.3 53.9 119.9 188.0 84.6 205.3 96.8 75.0 15 16 0.0 0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 -0.0 17 5.3 -0.3 2.1 3.7 1.8 2.9 -2.9 -1.0 -3.1 -2.2 -3.5 0.6 -3.7 -2.9 -2.7 -3.0 -2.3 -3.4 -1.7 -2.4 -1.8 -0.6 18 19 14 15 16 Net increase in liabilities Commercial paper Corporate bonds 17 Discrepancy 18 19 Memo: Securitized assets not included above Consumer leases (3) REIT assets (4) (1) Federally related mortgage pool securities backing privately issued CMOs. (2) Mortgages backing privately issued pool securities and privately issued CMOs. (3) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities). The leased automobile is a tangible asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2. (4) Included in table F.129. F.127 Finance Companies (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Gross saving 25.0 26.3 30.6 39.6 41.8 39.4 41.3 41.8 44.7 44.4 47.5 1 2 Fixed nonresidential investment 28.1 31.1 28.2 26.6 30.2 29.6 30.5 29.6 31.3 27.3 28.5 2 3 Net acquisition of financial assets 42.2 42.8 70.2 145.8 127.0 121.4 149.0 211.9 25.6 -12.8 110.2 3 4 Checkable deposits and currency 1.9 2.1 2.3 2.5 2.6 2.6 2.6 2.7 2.7 2.8 2.8 4 5 6 7 8 Credit market instruments Other loans and advances Mortgages Consumer credit 18.4 7.9 10.2 0.3 21.9 9.0 5.3 7.6 51.9 29.0 14.4 8.5 94.9 57.6 24.2 13.1 99.4 66.0 21.8 11.6 144.0 105.1 16.0 22.9 138.9 85.7 31.4 21.7 91.6 50.1 17.4 24.1 23.1 23.0 22.3 -22.3 -3.9 -11.8 22.2 -14.3 85.5 47.2 23.0 15.4 5 6 7 8 Miscellaneous assets 22.0 18.9 16.1 48.5 25.0 -25.2 7.5 117.6 -0.2 -11.6 21.9 9 49.8 36.6 61.6 135.9 157.8 202.9 154.9 228.9 44.5 -15.1 128.6 10 45.9 9.0 32.5 4.4 48.7 23.9 20.3 4.4 43.0 30.0 10.9 2.1 62.4 -3.7 57.2 8.8 74.7 7.3 66.8 0.5 53.5 10.7 60.1 -17.2 177.7 24.2 132.7 20.8 29.6 -54.7 81.5 2.8 37.8 49.1 -6.9 -4.4 -42.8 -227.8 151.9 33.1 35.7 7.4 11.2 17.0 11 12 13 14 9 10 Net increase in liabilities 11 12 13 14 Credit market instruments Open market paper Corporate bonds Bank loans n.e.c. 15 Taxes payable 16 17 18 19 Miscellaneous liabilities Foreign direct investment in U.S. Investment by parent Other 20 Discrepancy 21 Memo: Consumer leases not included above (2) (1) Includes retail captive finance companies. (2) See footnote (3), table F.126. 0.8 0.8 0.8 0.8 1.0 0.9 0.9 1.0 1.0 1.1 1.1 15 3.1 5.1 9.3 -11.3 -12.9 6.6 4.3 -23.8 17.8 2.6 -2.9 18.0 72.7 11.4 62.1 -0.8 82.2 17.6 22.7 41.9 148.5 -7.6 85.2 70.9 -23.8 3.1 -33.2 6.3 198.3 5.2 29.9 163.2 5.6 69.7 8.8 -72.9 26.6 23.6 -32.3 35.3 91.8 18.6 29.7 43.5 16 17 18 19 4.5 -11.1 -6.2 3.0 42.4 91.3 16.7 29.2 32.3 14.8 37.4 20 11.7 4.3 -3.5 5.0 4.7 13.7 8.7 3.0 -6.7 -6.4 -6.5 21 35 Z.1, September 18, 2001 F.128 Mortgage Companies Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 1 Net acquisition of financial assets 8.2 -9.1 3.2 0.3 0.2 -6.0 5.5 -0.5 2.0 1.4 1.1 1 2 3 4 Home mortgages Multifamily residential mortgages Commercial mortgages 8.2 -0.1 0.0 -10.2 1.0 0.0 3.1 0.1 0.0 0.3 0.0 0.0 0.2 0.0 0.0 -6.0 0.0 0.0 5.5 0.0 0.0 -0.6 0.0 0.0 1.9 0.0 0.0 1.4 0.1 0.0 1.0 0.1 0.0 2 3 4 5 6 7 Net increase in liabilities Bank loans n.e.c. Investment by parent 8.2 -9.1 3.2 0.3 0.2 -6.0 5.5 -0.5 2.0 1.4 1.1 5 4.1 4.1 -4.6 -4.6 1.6 1.6 0.2 0.2 0.1 0.1 -3.0 -3.0 2.7 2.7 -0.3 -0.3 1.0 1.0 0.7 0.7 0.6 0.6 6 7 F.129 Real Estate Investment Trusts (REITs) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Gross saving 4.1 6.8 8.2 8.1 7.7 7.3 7.6 7.9 8.1 8.3 8.6 1 2 3 Fixed nonresidential investment Multifamily residential investment 17.8 4.4 52.0 11.3 64.7 11.4 9.2 1.6 0.4 0.1 4.1 0.7 6.6 1.2 3.6 0.6 -12.8 -2.3 3.4 0.6 -14.5 -2.6 2 3 4 Net acquisition of financial assets 4.9 26.1 6.4 -2.3 -6.3 -14.1 -6.9 0.1 -4.4 5.8 7.1 4 5 Checkable deposits and currency 2.2 1.1 0.8 0.3 -0.0 0.4 -1.2 -1.4 2.0 -1.0 2.1 5 6 Credit market instruments 4.4 20.2 -5.1 -2.6 -6.3 -16.3 -2.5 -3.6 -2.8 4.0 1.1 6 3.2 1.4 9.0 2.1 -8.1 -0.4 1.1 -0.3 0.3 -0.4 -0.4 -0.7 -3.8 3.5 3.0 -3.1 2.5 -1.4 -2.6 8.6 14.3 -9.0 7 8 -0.3 1.1 -0.4 -1.0 9.1 6.0 0.9 2.2 3.4 0.8 0.1 2.5 -3.3 -2.4 -0.6 -0.4 -6.2 -4.6 -0.2 -1.4 -15.2 -14.4 -0.8 0.0 -2.2 -1.9 0.9 -1.2 -3.5 -1.1 -0.3 -2.0 -3.8 -0.8 -0.7 -2.4 -1.9 -0.4 -0.7 -0.8 -4.2 -0.8 0.2 -3.6 9 10 11 12 7 8 9 10 11 12 13 14 Agency securities Corporate and foreign bonds Mortgages Home Multifamily residential Commercial Miscellaneous assets Net increase in liabilities 15 Security RPs 16 Credit market instruments 17 18 19 20 21 22 Open market paper Corporate bonds Bank loans n.e.c. Mortgages Corporate equity issues Miscellaneous liabilities 23 Discrepancy 24 25 26 27 28 Memo: Securitized assets included above Agency securities Home mortgages Multifamily residential mortgages Commercial mortgages -1.7 4.9 10.7 -0.1 0.0 1.7 -3.2 5.1 -3.6 2.8 3.9 13 29.5 92.2 86.4 17.7 3.0 2.8 10.6 8.0 -9.6 19.2 -7.9 14 2.8 11.2 -9.8 0.5 -3.8 -10.7 -7.2 4.5 -1.8 4.9 7.8 15 11.9 39.6 62.7 6.3 2.7 11.5 9.8 -2.4 -8.1 -6.1 2.2 16 0.0 1.3 2.7 7.9 0.0 14.8 9.9 14.9 0.2 21.7 16.0 24.8 -0.1 8.9 -7.6 5.1 0.0 4.8 -8.3 6.2 0.0 6.6 -2.1 7.0 3.5 13.2 -16.9 10.0 -3.4 5.6 -10.6 6.0 0.0 -6.3 -3.7 1.8 -0.2 12.2 -10.6 -7.5 -0.5 -14.0 0.7 16.0 17 18 19 20 12.3 2.5 32.5 8.8 19.8 13.6 6.6 4.4 2.2 1.8 2.6 -0.6 2.0 6.0 1.4 4.5 3.0 -2.6 1.4 18.9 3.2 -21.1 21 22 6.6 9.5 11.9 17.4 16.6 19.4 17.3 11.6 18.0 17.7 10.7 23 -0.3 0.3 -0.8 0.3 0.0 3.7 0.4 3.1 0.2 0.0 2.9 0.1 1.8 0.4 0.6 -1.0 -1.3 0.0 0.1 0.1 -2.2 -0.2 -0.9 -0.5 -0.6 0.6 0.5 1.2 -0.6 -0.5 -2.9 -0.4 -2.3 -0.1 -0.0 -3.0 -0.5 -2.3 -0.2 -0.1 -3.4 -0.4 -0.2 -1.0 -1.7 -2.4 -0.4 -1.8 -0.1 -0.0 -0.6 -0.9 -1.0 0.5 0.9 24 25 26 27 28 36 Z.1, September 18, 2001 F.130 Security Brokers and Dealers Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 1 Gross saving 3.9 9.2 5.3 0.4 -2.8 -0.2 -1.2 -3.4 -6.2 -6.4 -5.5 1 2 Fixed nonresidential investment 12.1 14.5 18.0 19.0 20.9 20.2 20.8 21.2 21.3 21.1 20.9 2 3 Net acquisition of financial assets 68.2 142.8 142.0 79.8 216.4 619.0 26.0 285.5 -65.0 78.7 522.9 3 4 Checkable deposits and currency 5 Credit market instruments 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 1.9 6.0 3.7 3.3 1.6 -6.7 -0.7 -24.9 38.7 2.6 24.3 4 -15.7 14.9 6.8 -34.7 68.9 101.9 90.0 152.7 -69.0 311.4 13.8 5 1.6 -29.9 -31.1 1.2 -1.9 14.5 0.6 2.7 7.5 -4.8 2.4 9.2 3.8 21.7 21.2 0.5 -0.1 -18.6 -2.0 -43.4 -58.4 15.0 -1.2 12.0 13.2 37.0 39.3 -2.3 -0.7 19.3 16.9 23.1 85.7 -62.7 -4.4 66.3 32.1 65.3 46.1 19.2 -3.9 -3.5 28.8 90.0 59.9 30.1 3.9 30.0 -24.9 -30.2 -34.5 4.3 1.8 -15.7 21.7 239.0 192.6 46.4 5.5 45.3 0.8 -23.0 -107.2 84.2 4.1 32.0 6 7 8 9 10 11 -1.9 15.8 68.2 2.4 36.8 82.8 -6.0 21.6 115.9 7.7 75.2 28.3 7.7 5.8 132.4 31.1 217.9 274.9 2.8 -58.6 -7.5 18.6 14.6 124.5 -21.6 -150.9 137.8 39.8 -151.6 -123.4 32.4 0.6 451.9 12 13 14 15 Net increase in liabilities 71.4 141.3 146.2 89.9 231.4 630.1 39.4 302.0 -46.1 95.8 540.5 15 16 17 18 Security RPs (net) Corporate bonds Corporate equity issues -1.5 -2.0 -6.5 22.7 8.1 -5.9 4.5 7.2 2.5 37.2 -17.2 7.6 57.2 15.6 -4.3 149.4 44.4 7.5 -42.6 -0.7 1.4 189.7 25.4 -26.0 -67.8 -6.6 0.1 -69.8 -23.7 20.6 195.7 35.6 -9.8 16 17 18 19 20 21 22 23 Trade payables Security credit Customer credit balances (HH) From banks Taxes payable 4.0 36.6 35.3 1.3 0.1 5.7 74.2 52.6 21.7 0.1 -1.0 81.7 61.2 20.5 -0.1 11.9 29.1 47.2 -18.1 0.9 5.0 135.2 84.9 50.4 -0.1 11.6 267.1 182.9 84.2 0.9 22.6 -32.8 -49.6 16.8 -2.8 -14.0 80.1 51.0 29.1 0.2 0.0 226.5 155.1 71.4 1.3 -2.2 87.0 13.2 73.8 -3.5 -8.1 -83.5 3.3 -86.7 0.5 19 20 21 22 23 24 25 26 27 Miscellaneous liabilities Foreign direct investment in U.S. Due to affiliates Other 28.4 1.3 42.9 -15.8 21.6 0.3 70.0 -48.7 44.7 1.7 92.4 -49.4 7.2 3.3 57.4 -53.5 -5.7 1.7 58.6 -65.9 119.8 2.3 84.8 32.8 77.8 1.6 47.6 28.6 -0.5 2.3 36.7 -39.6 -219.8 0.5 65.0 -285.3 85.2 4.5 115.3 -34.7 379.8 2.1 -14.1 391.8 24 25 26 27 12.4 14.9 6.6 13.1 28.3 29.4 16.5 47.2 20.2 2.3 30.2 28 -5.0 -6.8 -8.6 -8.5 -8.7 -9.3 -8.7 -8.2 -8.5 -10.5 -8.9 29 105.6 257.1 124.1 81.6 228.6 32.1 154.2 -7.9 -80.7 1 28 29 Proprietors’ net investment Discrepancy F.131 Funding Corporations (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Net acquisition of financial assets 105.1 118.2 2 Money market fund shares 27.3 10.4 57.9 48.9 33.5 10.5 -11.2 87.4 47.3 107.6 124.2 2 3 4 5 Credit market instruments Open market paper Corporate and foreign bonds 12.6 -0.2 12.8 50.4 53.8 -3.4 -12.9 -17.4 4.5 133.8 137.6 -3.8 36.6 36.5 0.1 -7.2 32.8 -40.0 207.7 178.4 29.4 -72.9 -44.1 -28.8 19.0 -21.0 40.0 -175.3 -214.1 38.7 -167.5 -206.2 38.7 3 4 5 6 7 8 Miscellaneous assets (2) Investment in foreign banking offices Investment in brokers and dealers 65.2 13.7 51.5 57.3 14.3 43.0 60.7 11.8 48.9 74.4 2.5 71.9 54.0 45.6 8.3 78.3 86.1 -7.8 32.1 -0.1 32.2 17.6 21.5 -3.9 87.8 75.0 12.9 59.9 14.6 45.3 -37.3 -20.2 -17.1 6 7 8 105.1 118.2 105.6 257.1 124.1 81.6 228.6 32.1 154.2 -7.9 -80.7 9 64.1 34.9 29.2 80.7 50.1 30.6 40.7 6.7 34.0 92.2 34.8 57.4 0.7 -1.2 1.9 -36.8 -19.2 -17.6 -0.1 -23.8 23.8 48.2 57.9 -9.6 -8.5 -19.6 11.2 24.6 -21.0 45.6 -155.5 -181.8 26.3 10 11 12 41.0 1.1 59.9 -20.0 37.5 -23.4 57.2 3.6 64.9 20.0 70.0 -25.0 164.9 -17.8 16.3 166.4 123.4 53.2 86.2 -16.1 118.4 115.1 106.4 -103.1 228.6 32.1 85.5 111.0 -16.2 -30.6 9.9 4.6 162.6 96.3 143.1 -76.8 -32.5 35.3 -71.7 3.9 74.9 118.2 212.9 -256.2 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 (1) Funding subsidiaries, nonbank financial holding companies, and custodial accounts for reinvested collateral of securities lending operations. (2) Due from affiliated companies. 37 Z.1, September 18, 2001 F.200 Gold and Official Foreign Exchange Holdings (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 Q1 1 2 3 4 5 6 7 8 9 10 11 Total U.S. reserves U.S. gold stock and SDRs Federal govt.: Exchange Stab. Fund Monetary authority (2) U.S. foreign exchange position Official foreign currency holdings Treasury Monetary authority Net IMF position Federal government Monetary authority Q2 2001 Q3 Q4 Q1 Q2 -6.7 1.0 6.8 -8.7 0.3 2.2 -8.1 1.4 5.6 -0.8 5.4 1 -0.4 0.4 0.1 0.0 0.7 0.7 0.7 0.7 0.7 0.8 0.6 2 -0.4 -0.0 0.4 -0.0 0.1 -0.0 0.0 0.0 0.7 -0.0 0.7 0.0 0.7 -0.0 0.7 0.0 0.7 0.0 0.8 0.0 0.6 -0.0 3 4 -6.3 0.7 6.6 -8.7 -0.4 1.5 -8.8 0.7 4.9 -1.5 4.7 5 -7.6 -3.8 -3.8 -2.9 -1.5 -1.5 1.5 0.8 0.8 -3.3 -1.6 -1.6 1.9 0.9 0.9 0.5 0.3 0.3 0.5 0.3 0.3 5.9 2.9 2.9 0.6 0.3 0.3 0.8 0.4 0.4 0.7 0.3 0.3 6 7 8 1.3 1.3 0.0 3.6 3.6 0.0 5.1 5.1 0.0 -5.5 -5.5 0.0 -2.3 -2.3 0.0 0.9 0.9 0.0 -9.3 -9.3 0.0 -5.2 -5.2 0.0 4.3 4.3 0.0 -2.3 -2.3 0.0 4.1 4.1 0.0 9 10 11 (1) Lines 1, 2, and 3 exclude increases in SDRs through allocations, which have occurred at various dates beginning January 1970. Transactions in SDRs are included. Also excluded from the table are revaluations of foreign currency holdings, gold, SDRs, and IMF position. Allocations and revaluations are included in tables on outstandings. F.201 SDR Certificates and Treasury Currency Billions of dollars; quarterly figures are seasonally adjusted annual rates SDR certificates: 1 2 Liab: Federal government Asset: Monetary authority -0.5 -0.5 -0.5 -0.5 0.0 0.0 -3.0 -3.0 -4.0 -4.0 0.0 0.0 -8.0 -8.0 -4.0 -4.0 -4.0 -4.0 0.0 0.0 0.0 0.0 1 2 Treasury currency: 3 4 Liab: Federal government Asset: Monetary authority 0.5 1.0 0.5 0.6 0.6 0.7 1.0 1.7 2.4 3.6 2.2 4.0 3.2 3.9 4.2 3.3 -0.0 3.3 -1.1 2.5 1.1 1.4 3 4 5 Discrepancy (seigniorage) -0.4 -0.2 -0.1 -0.7 -1.2 -1.8 -0.7 0.9 -3.3 -3.6 -0.3 5 F.202 U.S. Deposits in Foreign Countries Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 2 3 4 5 Total rest of the world liability Held by: Household sector Nonfinancial corporate business Money market mutual funds Discrepancy--unallocated assets 85.9 107.7 6.5 61.0 120.8 313.3 3.4 -40.8 207.4 235.5 -146.5 1 12.4 10.5 3.4 6.5 -5.1 0.1 0.1 7.4 7.4 5.2 -2.3 12.2 7.7 -3.9 48.2 20.0 -23.6 54.1 0.2 16.8 68.3 -2.6 53.0 8.0 13.3 -61.7 62.5 -6.0 -23.9 87.1 -16.0 -12.1 -10.1 2 3 4 59.6 106.2 -8.5 45.8 68.7 262.7 -81.9 -99.2 193.3 178.2 -108.3 5 38 Z.1, September 18, 2001 F.203 Net Interbank Transactions Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1 Net change in liabilities 2 3 4 Monetary authority Depository institution reserves Vault cash 5 6 Commercial banking To monetary authority 7 To banks in foreign countries 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 -51.6 -19.7 -32.3 17.6 -20.3 -72.9 151.9 -170.6 10.6 -202.4 177.0 1 -0.5 -5.1 4.6 6.1 6.3 -0.2 -7.5 -4.5 -2.9 22.2 -2.3 24.5 -27.1 -5.0 -22.2 -104.2 -5.1 -99.1 6.2 0.4 5.7 -15.5 -4.6 -10.9 5.0 -10.7 15.7 7.1 14.7 -7.6 5.2 1.5 3.7 2 3 4 -51.2 4.1 -25.8 -1.6 -24.8 -1.1 -4.6 -1.7 6.9 1.0 31.3 0.1 145.7 1.9 -155.0 1.0 5.6 1.1 -209.5 -3.2 171.7 -1.7 5 6 -52.0 -4.3 -27.1 -6.5 -11.5 5.9 138.4 -143.9 -46.6 -222.9 160.5 7 8 9 10 11 Liabilities, net U.S.-chartered commercial banks Due to foreign affiliates - Due from foreign affiliates -46.8 -31.1 -1.9 29.2 -4.2 13.6 46.3 32.7 -32.0 23.0 23.6 0.5 -7.8 45.0 34.5 -10.5 -12.0 28.8 76.2 47.4 5.2 42.3 67.8 25.5 140.6 169.5 232.3 62.8 -145.5 -54.7 -9.1 45.6 -48.4 -41.9 13.8 55.8 -229.2 -13.5 -158.4 -144.9 170.1 42.5 48.4 6.0 8 9 10 11 12 13 14 Foreign banking offices in U.S. Due to foreign affiliates - Due from foreign affiliates -11.5 10.6 22.1 -18.5 -10.7 7.8 -55.7 33.3 88.9 -48.6 8.4 57.0 -58.0 -8.4 49.6 -119.1 41.4 160.5 -21.0 -100.9 -79.8 -78.8 -86.2 -7.4 -13.1 112.0 125.1 -133.9 79.8 213.7 -11.0 -79.5 -68.5 12 13 14 15 16 17 Bank holding companies Due to foreign affiliates - Due from foreign affiliates -4.1 -0.2 3.9 0.8 0.3 -0.4 0.6 -0.1 -0.7 -4.3 5.5 9.7 17.2 -8.3 -25.5 82.0 -33.4 -115.4 -7.9 0.0 7.9 -12.0 0.0 12.0 6.6 0.0 -6.6 -81.8 34.1 115.9 138.7 161.2 22.5 15 16 17 18 19 20 Less: Deposits at foreign banks U.S.-chartered commercial banks Foreign banking offices in U.S. 5.2 5.2 -0.0 0.2 1.0 -0.9 -5.0 -1.0 -4.0 -1.3 -1.3 -0.0 -0.5 -1.0 0.6 -0.7 -0.4 -0.2 2.2 0.9 1.3 -1.6 -2.2 0.6 -1.8 -2.4 0.6 -6.2 -4.3 -1.9 9.6 8.8 0.8 18 19 20 -3.3 -19.9 3.4 3.5 17.4 25.3 5.4 -12.1 51.1 16.7 12.9 21 -23.5 -6.6 -3.0 -0.3 -3.3 -6.7 -14.7 5.4 -0.2 -19.9 -2.6 6.0 2.1 0.6 3.4 -12.1 19.6 16.4 -0.3 3.5 -12.5 8.4 -8.9 -0.1 17.4 -11.6 -2.5 -27.2 -0.6 25.3 1.9 10.5 4.2 1.0 5.4 18.8 -20.1 -6.9 -1.0 -12.1 -59.2 45.8 -5.5 0.3 51.1 82.2 27.0 9.9 0.4 16.7 117.4 -58.6 -74.3 2.9 12.9 22 23 24 25 26 6.0 10.9 -7.4 -0.6 -1.6 10.2 23.7 8.0 8.1 12.9 -33.5 42.7 2.6 6.0 -23.8 -15.0 87.2 17.7 -22.0 -33.2 7.5 -183.5 27 28 21 22 23 24 25 26 27 28 To U.S. banking, net U.S.-chartered commercial banks Liabilities To foreign offices in U.S. To bank holding companies Unallocated Less, due from: Foreign offices in U.S. Bank holding companies 29 30 31 Foreign banking offices in U.S. Due to U.S. banks - Due from U.S. banks 9.0 6.0 -3.0 -12.7 -7.4 5.4 -3.7 -1.6 2.1 7.4 23.7 16.4 17.0 8.1 -8.9 -6.4 -33.5 -27.2 -1.6 2.6 4.2 -16.9 -23.8 -6.9 92.8 87.2 -5.5 -31.9 -22.0 9.9 81.8 7.5 -74.3 29 30 31 32 33 34 Bank holding companies Due to U.S. banks - Due from U.S. banks 11.2 10.9 -0.3 -0.4 -0.6 -0.2 9.6 10.2 0.6 8.2 8.0 -0.3 12.9 12.9 -0.1 43.3 42.7 -0.6 5.0 6.0 1.0 -14.1 -15.0 -1.0 17.5 17.7 0.3 -33.6 -33.2 0.4 -186.3 -183.5 2.9 32 33 34 -48.3 0.2 -35.6 14.0 -37.7 -98.2 146.5 -158.4 -40.5 -219.1 164.1 35 -52.0 -4.3 -27.1 -6.5 -11.5 5.9 138.4 -143.9 -46.6 -222.9 160.5 36 3.7 4.5 -8.6 20.5 -26.1 -104.1 8.1 -14.6 6.1 3.8 3.5 37 35 Net change in assets 36 Rest of the world 37 Domestic 38 39 40 Monetary authority Federal Reserve float Loans to member banks 4.1 4.2 -0.1 -1.6 -3.6 2.0 -1.1 0.9 -2.0 -1.7 -1.9 0.2 1.0 1.1 -0.1 0.1 0.1 0.0 1.9 0.8 1.1 1.0 1.5 -0.6 1.1 2.1 -1.0 -3.2 -2.9 -0.4 -1.7 -2.2 0.5 38 39 40 41 42 43 Commercial banking Reserves at Federal Reserve Vault cash -0.0 -4.6 4.6 6.6 6.8 -0.2 -7.6 -4.6 -2.9 22.1 -2.4 24.5 -26.1 -4.0 -22.2 -102.4 -3.3 -99.1 6.1 0.4 5.7 -13.7 -2.8 -10.9 5.5 -10.1 15.7 7.1 14.7 -7.6 5.2 1.5 3.7 41 42 43 Savings insts.: Reserves at Fed. Res. -0.5 -0.5 0.1 0.1 -1.0 -1.8 0.1 -1.9 -0.5 0.0 0.0 44 -3.3 -19.9 3.4 3.5 17.4 25.3 5.4 -12.1 51.1 16.7 12.9 45 44 45 Discrepancy--floats, etc. 39 Z.1, September 18, 2001 F.204 Checkable Deposits and Currency Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 Q1 1 Net change in liabilities 2 3 4 5 Monetary authority Federal government cash and deposits Deposits due to foreign Currency outside banks 6 7 8 9 Commercial banking Federal government deposits Deposits due to foreign Private domestic deposits Q2 2001 Q3 Q4 Q1 Q2 15.7 41.2 47.4 151.4 -71.5 -206.8 -33.8 5.0 -50.2 90.3 101.0 1 23.3 1.7 -0.2 21.8 29.9 -2.3 0.3 31.9 38.3 0.5 -0.3 38.0 108.7 22.3 -0.1 86.4 -35.3 -22.9 0.1 -12.5 -187.8 -91.0 0.2 -97.0 27.5 -19.5 -0.1 47.1 23.3 30.4 0.1 -7.2 -4.1 -11.5 0.3 7.1 48.8 5.9 -0.6 43.5 50.0 -17.7 0.1 67.6 2 3 4 5 -34.6 9.7 2.8 -47.1 -19.8 -0.9 4.8 -23.7 -33.4 -14.6 -1.5 -17.3 3.2 36.4 13.4 -46.6 -85.2 -33.2 -9.5 -42.6 -87.9 -30.5 -54.7 -2.7 -100.7 -22.6 5.9 -84.1 -60.8 -17.3 4.8 -48.3 -91.4 -62.3 6.0 -35.2 -25.5 4.3 2.7 -32.4 1.8 -0.1 -4.1 6.0 6 7 8 9 25.4 1.6 27.1 4.1 36.1 6.4 37.2 2.3 43.1 5.9 45.2 23.7 42.8 -3.5 40.6 1.9 43.9 1.4 51.1 15.8 53.2 -4.0 10 11 10 11 Savings institutions Credit unions 12 Net change in assets 15.7 41.2 47.4 151.4 -71.5 -206.8 -33.8 5.0 -50.2 90.3 101.0 12 13 Household sector -70.8 -56.9 -8.3 -81.4 -47.4 -30.8 -102.6 -11.0 -45.1 60.7 62.8 13 14 15 16 17 Nonfinancial business Corporate Nonfarm noncorporate Farm 56.1 36.8 19.3 -0.0 53.2 30.7 22.2 0.2 48.9 14.9 32.1 1.9 98.9 74.7 25.0 -0.8 54.3 29.9 25.0 -0.6 101.5 77.3 25.0 -0.8 89.2 46.6 43.4 -0.8 41.1 25.7 15.9 -0.4 -14.7 -29.9 15.7 -0.5 -63.3 -82.8 20.0 -0.5 -17.9 -38.3 20.8 -0.4 14 15 16 17 18 19 State and local governments Federal government -5.5 11.0 4.4 -0.5 -3.9 -16.7 3.9 66.2 1.0 -65.1 -5.9 -140.3 -7.2 -58.3 0.2 10.0 17.0 -71.7 2.3 40.1 5.3 -31.6 18 19 20 21 22 Rest of the world Checkable deposits Currency 19.9 2.6 17.4 29.9 5.1 24.8 14.8 -1.8 16.6 39.9 13.3 26.6 -8.2 -9.3 1.1 -81.9 -54.5 -27.4 9.8 5.9 4.0 8.0 5.0 3.0 31.3 6.4 24.9 11.3 2.1 9.2 7.1 -4.0 11.1 20 21 22 23 Financial sectors 8.5 17.8 13.0 32.2 -16.7 -69.0 17.6 -48.3 32.7 65.3 57.5 23 24 25 26 27 Commercial banking Savings institutions Credit unions Bank personal trusts and estates -0.2 -1.3 0.1 0.3 -0.1 1.0 0.6 0.0 0.6 3.2 1.0 -0.5 0.3 1.7 17.3 -0.1 -0.5 -0.4 -14.2 -0.0 -1.3 -15.3 1.1 -0.0 0.6 4.7 0.9 -0.0 -2.6 -0.1 -28.7 -0.0 1.2 9.0 -30.2 -0.0 0.6 -0.2 12.7 -0.0 -0.6 8.2 25.5 -0.0 24 25 26 27 28 29 30 31 Life insurance companies Other insurance companies Private pension funds State and local govt. retirement funds -0.9 -0.9 0.6 3.3 3.8 0.3 1.3 -2.2 -2.7 -0.2 0.2 4.7 0.0 0.2 1.2 -0.7 -0.5 -0.6 0.7 -0.1 -5.6 -4.5 0.5 7.4 6.4 -1.7 0.5 5.5 -7.9 1.4 1.3 -1.7 5.2 2.4 0.4 -11.7 51.5 27.5 1.0 -7.6 -11.1 -4.0 0.3 3.1 28 29 30 31 32 33 34 35 36 Money market mutual funds Government-sponsored enterprises Finance companies REITs Brokers and dealers 2.4 -0.8 1.9 2.2 1.9 2.6 1.2 2.1 1.1 6.0 -2.6 2.5 2.3 0.8 3.7 -1.2 7.4 2.5 0.3 3.3 4.5 -9.7 2.6 -0.0 1.6 -3.2 -44.2 2.6 0.4 -6.7 -2.4 2.1 2.6 -1.2 -0.7 14.7 -0.7 2.7 -1.4 -24.9 8.8 4.3 2.7 2.0 38.7 -24.4 -0.3 2.8 -1.0 2.6 4.2 2.6 2.8 2.1 24.3 32 33 34 35 36 -3.6 -6.6 -0.5 -8.2 10.7 19.7 17.7 5.0 0.3 -26.1 17.7 37 37 Mail float 40 Z.1, September 18, 2001 F.205 Time and Savings Deposits Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1 2 Net change in liabilities 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 211.3 219.6 244.5 175.3 309.1 258.7 224.2 377.4 376.0 418.9 259.0 1 97.2 97.1 152.4 44.7 190.7 104.6 123.0 224.5 310.8 288.3 193.1 2 Small time and savings deposits 3 4 5 6 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Banks in U.S.-affiliated areas 123.1 122.8 0.1 0.2 148.3 143.9 4.4 -0.0 183.7 186.3 -3.6 1.0 71.3 72.4 -1.9 0.8 213.3 210.4 1.4 1.4 145.6 146.6 -1.3 0.4 159.7 155.3 1.8 2.5 213.0 215.5 -4.7 2.3 334.8 324.3 10.0 0.5 222.2 228.0 -5.2 -0.6 196.6 168.9 23.2 4.4 3 4 5 6 7 8 Savings institutions Credit unions -38.1 12.3 -64.4 13.2 -54.3 23.1 -38.9 12.3 -35.5 13.0 -47.4 6.4 -35.1 -1.6 -19.0 30.5 -40.7 16.7 6.7 59.4 -37.5 34.0 7 8 9 Large time deposits (1) 114.0 122.5 92.1 130.6 118.4 154.1 101.2 152.9 65.2 130.6 65.9 9 105.3 49.5 55.6 0.2 107.9 63.2 44.7 -0.0 72.3 34.8 36.5 1.0 119.0 61.5 56.7 0.8 94.9 87.9 5.6 1.4 128.8 91.7 36.7 0.4 86.5 141.6 -57.6 2.5 122.6 73.7 46.6 2.3 41.8 44.6 -3.4 0.5 87.8 17.7 70.6 -0.6 34.9 25.6 4.9 4.4 10 11 12 13 6.3 2.4 11.7 2.9 15.7 4.1 8.5 3.1 19.9 3.5 27.3 -2.0 9.0 5.7 32.3 -2.0 11.0 12.4 40.9 2.0 16.1 14.9 14 15 10 11 12 13 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Banks in U.S.-affiliated areas 14 15 Savings institutions Credit unions 16 Net change in assets 211.3 219.6 244.5 175.3 309.1 258.7 224.2 377.4 376.0 418.9 259.0 16 17 Household sector 152.6 158.8 191.9 111.7 311.4 312.1 324.5 347.5 261.6 306.5 256.3 17 18 19 20 Nonfinancial business Corporate Nonfarm noncorporate 4.2 0.7 3.5 3.4 -7.3 10.7 4.1 -5.0 9.1 14.0 4.0 10.0 2.9 -1.1 4.0 -23.1 -27.1 4.0 11.0 3.3 7.7 5.3 4.1 1.2 18.4 15.2 3.1 6.0 1.0 5.0 6.4 1.0 5.4 18 19 20 21 22 23 State and local governments Federal government Rest of the world 10.6 1.4 10.9 5.8 1.0 13.1 12.8 1.3 13.0 10.9 0.7 15.0 9.4 1.0 5.7 -18.4 0.4 -9.5 20.3 1.0 1.4 7.0 2.1 -6.4 28.9 0.4 37.2 -11.5 8.2 -40.3 -1.8 5.9 2.6 21 22 23 24 Financial sectors 31.5 37.5 21.5 23.0 -21.3 -2.7 -134.0 21.9 29.7 150.0 -10.4 24 25 26 27 Savings institutions Credit unions Bank personal trusts and estates 0.3 -0.7 -1.6 -0.4 0.6 1.0 0.5 6.4 -2.1 -0.1 -6.8 0.9 0.1 0.5 0.6 2.4 2.6 1.0 -2.4 -8.7 0.8 -0.8 -0.7 0.4 1.2 8.6 0.3 1.2 6.1 0.5 2.6 -6.3 0.3 25 26 27 28 29 30 Private pension funds State and local govt. retirement funds Money market mutual funds 5.3 -2.2 30.4 7.5 0.1 28.6 1.5 -0.4 15.7 -4.0 -0.3 33.3 2.0 -0.6 -23.8 -0.7 2.9 -10.8 5.4 1.3 -130.3 -0.8 6.9 16.9 4.0 -13.5 29.0 -3.9 -1.0 147.1 -4.4 4.7 -7.3 28 29 30 (1) Large time deposits are those issued in amounts of $100,000 or more. F.206 Money Market Mutual Fund Shares Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Net issues 145.4 155.9 287.2 249.1 233.3 239.7 71.5 250.9 371.1 621.4 322.5 1 2 Net purchases 145.4 155.9 287.2 249.1 233.3 239.7 71.5 250.9 371.1 621.4 322.5 2 3 4 5 Household sector Nonfinancial corporate business Nonfarm noncorporate business 50.5 7.7 2.2 79.9 20.2 3.7 164.9 26.5 9.7 124.5 23.1 10.0 131.3 40.4 10.0 209.1 7.9 2.0 80.1 2.9 0.7 57.8 63.4 15.7 178.3 87.4 21.6 253.0 130.2 28.0 -44.6 112.6 28.0 3 4 5 6 7 8 9 Bank personal trusts and estates Life insurance companies Private pension funds Funding corporations 7.8 39.1 10.8 27.3 -4.0 32.6 13.1 10.4 8.8 17.6 1.9 57.9 7.5 23.4 11.7 48.9 3.7 8.5 5.9 33.5 3.2 5.3 1.8 10.5 4.4 -5.7 0.3 -11.2 2.8 11.8 12.1 87.4 4.3 22.6 9.4 47.3 3.4 89.5 9.7 107.6 4.0 88.2 10.0 124.2 6 7 8 9 41 Z.1, September 18, 2001 F.207 Federal Funds and Security Repurchase Agreements Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 41.4 120.9 91.3 169.7 110.9 275.0 155.2 278.0 -264.6 11.2 155.2 1 2 3 4 5 Commercial banking (net) U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies 41.0 28.7 12.0 0.4 89.0 63.4 25.6 0.0 87.0 66.8 19.7 0.5 110.6 128.7 -18.3 0.1 63.6 12.8 52.4 -1.6 133.1 124.6 7.6 0.8 198.9 137.8 59.3 1.8 59.2 -33.2 92.8 -0.4 -137.0 -178.1 49.8 -8.7 74.3 45.1 22.1 7.0 -58.2 59.6 -118.3 0.5 2 3 4 5 6 7 8 Savings institutions REITs Brokers and dealers (net) -0.9 2.8 -1.5 -1.9 11.2 22.7 9.5 -9.8 4.5 21.4 0.5 37.2 -6.1 -3.8 57.2 3.2 -10.7 149.4 6.0 -7.2 -42.6 24.6 4.5 189.7 -58.1 -1.8 -67.8 1.8 4.9 -69.8 9.9 7.8 195.7 6 7 8 39.1 57.8 30.7 139.7 0.0 -291.4 103.2 150.6 37.7 152.6 34.0 9 9 Net change in liabilities 1997 Net change in assets 10 11 12 Nonfinancial corporate business State and local governments Rest of the world 1.5 32.1 3.2 0.7 3.6 20.0 -0.4 7.2 -18.8 1.1 5.0 14.8 -0.1 9.7 5.1 3.1 51.3 -43.2 -7.7 -9.4 48.5 -0.9 12.0 20.6 5.0 -15.0 -5.6 -2.2 19.0 97.1 -2.6 17.2 13.5 10 11 12 13 14 15 16 Financial sectors Monetary authority Savings institutions Credit unions 2.3 7.7 -1.2 -4.9 33.6 2.3 -0.8 2.0 42.7 6.5 5.5 3.4 118.7 110.3 -4.2 2.4 -14.6 -97.3 4.3 -5.3 -302.6 -402.8 3.7 -11.4 71.8 26.9 2.0 -18.9 118.9 -27.6 10.7 31.8 53.3 14.5 0.7 -22.7 38.7 -15.1 27.1 16.0 5.9 24.2 1.3 -1.5 13 14 15 16 -2.1 4.6 -3.3 16.0 -2.7 -11.8 -0.2 0.9 0.4 22.8 10.3 -4.1 7.4 1.0 8.9 12.9 10.4 -13.4 -14.4 0.4 2.8 0.1 8.5 12.7 10.0 0.9 4.3 43.4 26.7 -1.7 26.1 0.5 20.1 55.1 2.6 3.4 1.9 0.5 5.8 31.9 60.6 -39.0 2.0 1.3 -6.8 16.6 39.6 51.4 10.0 1.3 -1.8 69.9 3.8 -22.5 -42.0 -3.6 -8.7 71.5 -67.0 60.4 5.0 1.3 -4.1 -5.6 18.4 -33.1 17 18 19 20 21 22 2.4 63.2 60.6 30.0 110.9 566.4 52.0 127.4 -302.3 -141.4 121.2 23 17 18 19 20 21 22 23 Other insurance companies Private pension funds State and local govt. retirement funds Money market mutual funds Mutual funds Government-sponsored enterprises Discrepancy--unallocated assets F.208 Open Market Paper Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 102.6 184.1 193.1 229.9 207.6 202.1 259.1 169.7 199.3 -367.2 -232.5 1 101.6 186.8 202.5 232.8 208.2 200.6 258.5 171.9 201.8 -366.5 -227.9 2 Nonfinancial corporate business Foreign issues in U.S. Nonfinancial Financial -0.9 11.3 -1.9 13.2 13.7 3.7 -2.3 6.0 24.4 7.8 -1.6 9.4 37.4 16.3 8.2 8.1 48.1 31.7 10.9 20.8 29.8 57.8 36.6 21.2 110.4 12.0 19.7 -7.6 56.1 7.0 -13.8 20.9 -4.0 50.1 1.2 48.9 -207.2 -25.4 -31.7 6.3 -141.5 -5.6 -24.6 19.0 3 4 5 6 7 8 9 10 11 12 Financial sectors Commercial banking ABS issuers Finance companies REITs Funding corporations 91.3 1.9 45.4 9.0 0.0 34.9 169.4 6.0 89.4 23.9 0.0 50.1 170.3 7.8 125.7 30.0 0.2 6.7 179.2 9.1 139.0 -3.7 -0.1 34.8 128.4 1.2 121.0 7.3 0.0 -1.2 113.1 -14.9 136.5 10.7 0.0 -19.2 136.0 6.7 125.5 24.2 3.5 -23.8 108.8 6.8 102.3 -54.7 -3.4 57.9 155.7 6.3 119.9 49.1 0.0 -19.6 -133.9 30.5 84.6 -227.8 -0.2 -21.0 -80.8 -2.8 96.8 7.4 -0.5 -181.8 7 8 9 10 11 12 13 Bankers acceptances (1) 1.0 -2.7 -9.4 -2.9 -0.7 1.5 0.6 -2.3 -2.5 -0.7 -4.6 13 14 Net purchases, by sector 102.6 184.1 193.1 229.9 207.6 202.1 259.1 169.7 199.3 -367.2 -232.5 14 2 3 4 5 6 Total net issues, all types Commercial paper 15 16 17 18 Household sector Nonfinancial corporate business State and local governments Rest of the world 6.7 11.4 20.3 14.4 1.5 4.6 14.3 19.9 7.5 3.3 28.0 37.6 4.0 4.3 1.9 -13.0 5.0 -0.4 7.6 8.7 5.0 -6.1 6.9 -9.4 5.0 -0.1 17.5 -7.2 5.0 7.5 -4.0 -14.3 5.0 -3.0 10.0 65.6 -22.0 13.9 4.0 -4.1 -18.0 -10.3 -17.2 12.8 15 16 17 18 19 20 21 22 23 Monetary authority Commercial banking (1) Savings institutions Credit unions Bank personal trusts and estates 0.0 0.8 0.1 -0.3 -2.6 0.0 -0.8 -0.3 -0.1 -0.2 0.0 -0.2 0.0 0.2 -4.5 0.0 0.3 0.0 1.5 0.6 0.0 0.1 0.0 -0.6 0.6 0.0 0.4 0.0 -4.1 0.7 0.0 -0.4 0.0 -2.0 0.4 0.0 -0.1 0.0 3.6 0.8 0.0 0.7 0.0 -0.0 0.5 0.0 0.1 0.0 -0.4 -4.2 0.0 0.0 0.0 1.8 -3.7 19 20 21 22 23 24 25 26 Life insurance companies Private pension funds State and local govt. retirement funds 2.9 5.6 -3.3 17.5 1.2 0.4 7.5 2.9 8.9 2.0 3.7 2.8 -4.5 -1.8 4.3 -15.1 -7.6 20.1 12.2 0.4 5.8 -3.1 1.2 -6.8 -12.2 -1.2 -1.8 -41.1 -13.2 -8.7 -21.6 -8.5 -4.1 24 25 26 27 28 29 30 31 Money market mutual funds Mutual funds Government-sponsored enterprises Brokers and dealers Funding corporations 38.4 -3.1 9.6 1.6 -0.2 62.1 10.6 -1.1 0.6 53.8 78.2 10.4 26.9 3.8 -17.4 104.7 8.5 -27.1 -2.0 137.6 95.5 26.7 16.8 13.2 36.5 131.5 13.2 17.0 16.9 32.8 -13.0 43.2 -13.1 32.1 178.4 134.2 31.3 29.7 28.8 -44.1 129.1 19.0 33.4 -24.9 -21.0 3.3 -53.5 -48.9 21.7 -214.1 17.1 -15.6 40.1 0.8 -206.2 27 28 29 30 31 (1) Excludes banks’ holdings of own acceptances. 42 Z.1, September 18, 2001 F.209 Treasury Securities Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 146.6 23.2 -54.6 -71.0 -294.9 -215.2 -410.5 -223.8 -330.2 -2.1 -217.1 1 2.0 144.6 -0.5 23.7 0.1 -54.7 -0.2 -70.8 -1.7 -293.2 -3.5 -211.7 -2.1 -408.5 -0.9 -222.9 -0.3 -329.9 1.4 -3.5 5.3 -222.5 2 3 146.6 23.2 -54.6 -71.0 -294.9 -215.2 -410.5 -223.8 -330.2 -2.1 -217.1 4 Household sector Savings bonds Other Treasury issues -45.4 2.0 -47.5 -162.4 -0.5 -161.9 -85.2 0.1 -85.4 -14.3 -0.2 -14.1 -164.3 -1.7 -162.6 -239.6 -3.5 -236.1 -239.3 -2.1 -237.3 -139.2 -0.9 -138.3 -38.9 -0.3 -38.6 -83.2 1.4 -84.6 -4.9 5.3 -10.2 5 6 7 8 9 10 Nonfinancial corporate business Nonfarm noncorporate business State and local governments -10.0 5.2 -32.8 -20.2 4.1 -17.7 -3.2 6.1 30.0 -4.0 -3.1 -2.5 -3.7 -10.2 -30.6 8.2 -10.2 -37.5 8.0 -15.0 -15.2 -11.5 -6.5 -45.7 -19.4 -9.1 -24.1 -10.2 -11.0 -48.5 -13.5 -11.0 -41.5 8 9 10 11 12 Rest of the world Monetary authority 270.7 12.7 139.7 39.8 38.7 21.4 -8.3 25.8 -63.0 33.7 27.4 102.1 -98.2 -5.4 -86.0 39.2 -95.3 -0.9 -2.0 54.2 -115.9 26.4 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 -16.9 -34.7 18.4 0.6 -1.3 8.3 -6.1 14.4 -0.1 0.1 -56.1 -42.1 -10.3 -3.1 -0.7 12.7 -1.9 7.5 7.9 -0.7 -44.5 -35.0 -0.6 -7.9 -1.0 -86.3 -32.2 -21.5 -31.4 -1.2 -35.1 -13.7 -21.5 0.6 -0.5 22.9 -6.5 29.9 0.1 -0.6 -79.6 -87.6 10.7 -1.1 -1.7 -82.8 -104.4 24.5 -0.3 -2.6 47.6 13.8 33.6 0.7 -0.5 13 14 15 16 17 18 19 20 Savings institutions Credit unions Bank personal trusts and estates -1.0 -0.9 -1.8 -2.8 -1.8 -5.4 -4.4 -2.5 -3.1 -0.0 -3.5 -0.0 -1.4 -1.4 -0.8 -0.8 -1.0 -0.9 -3.3 -2.1 -0.9 -1.4 -1.0 -0.7 -0.2 -1.5 -0.7 -3.0 -3.4 -1.4 -2.1 -3.3 -1.2 18 19 20 21 22 23 24 Life insurance companies Other insurance companies Private pension funds State and local govt. retirement funds -14.9 -12.6 -2.7 11.8 1.6 2.1 4.1 13.4 -14.1 -20.8 -4.4 0.8 -9.3 -9.7 -0.6 -6.6 -4.6 -8.6 -0.8 -15.5 -4.0 -9.2 -3.1 -0.3 -5.0 -9.3 7.3 -2.5 -4.1 -6.9 0.3 -39.2 -5.4 -8.8 -7.7 -19.8 -17.3 -15.8 -26.2 -1.5 -20.1 -16.0 -8.2 -17.3 21 22 23 24 25 26 27 28 29 Money market mutual funds Mutual funds Closed-end funds Government-sponsored enterprises Brokers and dealers 20.3 8.9 0.2 -12.9 -31.1 -4.0 11.0 -1.2 7.1 7.5 17.5 5.2 -0.9 -0.7 21.2 0.1 6.2 -1.3 5.8 -58.4 -13.3 4.0 -0.3 -8.9 39.3 -7.5 -14.6 -0.3 -23.2 85.7 -34.8 12.3 -0.3 -18.0 46.1 -0.1 3.2 -0.3 -6.5 59.9 -10.9 15.0 -0.3 12.2 -34.5 35.5 17.1 -0.3 4.9 192.6 37.0 26.0 -0.3 8.3 -107.2 25 26 27 28 29 145.0 23.1 -52.6 -71.2 -295.9 -217.2 -408.7 -226.2 -331.3 -4.3 -216.0 30 2 3 4 5 6 7 Net issues 1997 Savings bonds Other Treasury issues Net purchases 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). 43 Z.1, September 18, 2001 F.210 Agency Securities (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1 2 3 4 5 6 7 8 Net issues Budget agencies Government-sponsored enterprises Federally related mortgage pools Net purchases Household sector Nonfinancial corporate business State and local governments 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 229.8 212.8 472.9 591.7 432.5 222.4 382.9 512.4 612.4 430.4 672.3 1 -1.6 90.4 141.0 -0.1 98.4 114.6 2.0 278.3 192.6 -0.2 318.2 273.8 -1.0 234.1 199.4 -2.1 104.9 119.5 1.8 248.9 132.2 -2.4 278.1 236.7 -1.2 304.5 309.1 -2.2 262.3 170.3 1.1 264.7 406.5 2 3 4 229.8 212.8 472.9 591.7 432.5 222.4 382.9 512.4 612.4 430.4 672.3 5 99.0 5.1 -35.3 11.0 -20.5 -0.8 -74.8 2.6 63.6 95.4 1.9 28.5 4.2 5.7 23.5 -44.0 10.1 23.1 93.5 11.2 26.9 31.2 14.8 24.0 -64.0 -13.4 20.0 -437.3 12.4 27.8 174.6 2.2 22.7 6 7 8 9 10 11 Federal government Rest of the world Monetary authority 0.0 41.7 -0.4 0.0 49.8 -1.5 0.0 56.7 -0.3 0.0 92.1 -0.2 0.0 152.7 -0.1 0.0 136.5 -0.1 0.0 117.3 -0.0 0.0 171.4 -0.0 0.0 185.7 0.0 0.0 168.9 -0.5 0.0 142.8 0.0 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 28.2 15.3 12.4 0.3 0.2 75.5 60.4 12.5 0.6 2.0 91.4 81.6 4.8 1.1 3.9 35.7 29.3 4.3 -1.3 3.3 22.6 18.2 0.6 -0.5 4.3 70.6 75.3 -3.1 -2.4 0.8 13.8 15.3 -4.0 0.9 1.6 -30.1 -40.0 2.2 0.4 7.3 36.2 22.4 7.5 -1.1 7.4 -20.7 -30.9 13.4 2.4 -5.7 -73.0 12.5 -84.5 -1.4 0.3 12 13 14 15 16 17 18 19 Savings institutions Credit unions Bank personal trusts and estates -8.5 4.9 2.3 -0.8 0.4 -4.7 -11.7 7.3 -1.4 3.7 2.9 5.7 -6.7 -0.4 4.6 -20.2 7.7 4.0 -9.1 -1.1 4.3 -1.5 -14.8 4.9 4.1 6.8 5.2 19.4 3.1 3.3 21.0 3.5 3.9 17 18 19 20 21 22 23 Life insurance companies Other insurance companies Private pension funds State and local govt. retirement funds 1.3 2.8 -10.5 5.5 -3.0 1.7 7.7 18.4 -9.6 -1.2 39.0 19.1 7.0 5.9 30.6 22.9 11.0 8.6 27.7 32.6 14.6 7.9 42.3 -17.9 7.3 7.5 5.4 58.7 12.8 10.9 36.6 46.8 9.3 7.9 26.5 42.7 32.9 4.3 29.3 -7.5 21.5 10.0 -5.9 16.1 20 21 22 23 24 25 26 Money market mutual funds Mutual funds Government-sponsored enterprises 11.0 6.2 67.2 -5.5 8.4 69.0 77.5 21.0 163.1 17.1 6.3 178.7 -5.8 6.3 145.0 -72.9 -18.2 120.5 -58.5 16.7 74.4 15.2 4.5 154.6 93.2 22.3 230.6 251.3 25.9 234.4 79.7 43.0 155.7 24 25 26 27 28 29 ABS issuers REITs Brokers and dealers 4.9 3.2 1.2 3.6 9.0 -4.8 38.2 -8.1 0.5 41.3 1.1 15.0 2.8 0.3 -2.3 21.6 -0.4 -62.7 -0.7 -3.8 19.2 -1.9 3.0 30.1 -7.6 2.5 4.3 39.5 -2.6 46.4 -43.9 14.3 84.2 27 28 29 (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. 44 Z.1, September 18, 2001 F.211 Municipal Securities and Loans Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 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 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 2.6 71.4 96.8 68.2 35.3 20.0 30.1 31.0 60.1 106.9 113.9 1 -7.2 6.3 -13.4 57.3 8.3 49.0 79.1 -6.3 85.4 52.7 3.6 49.1 28.2 3.2 25.0 14.5 4.4 10.1 19.8 8.4 11.5 25.1 -7.2 32.3 53.4 7.1 46.3 99.7 17.4 82.3 109.7 21.9 87.7 2 3 4 6.6 10.0 12.0 10.4 5.8 3.3 10.2 4.9 4.6 4.9 0.9 5 3.1 4.2 5.8 5.1 1.4 2.2 0.1 1.0 2.1 2.3 3.3 6 2.6 71.4 96.8 68.2 35.3 20.0 30.1 31.0 60.1 106.9 113.9 7 8 9 10 11 Household sector Nonfinancial corporate business Nonfarm noncorporate business State and local governments -22.2 -5.8 0.4 -0.5 52.5 -3.6 0.5 -0.7 17.8 -1.6 0.1 -1.4 40.2 -3.4 0.2 -1.5 14.5 10.8 0.2 0.6 30.4 6.3 0.2 -1.7 -6.2 49.6 0.2 1.6 34.1 -34.8 0.2 3.2 -0.5 22.2 0.2 -0.8 56.2 -4.0 0.2 2.1 24.5 5.0 0.2 -0.6 8 9 10 11 12 13 14 Commercial banking Savings institutions Bank personal trusts and estates 0.9 0.1 -4.3 2.4 0.0 -13.3 8.2 0.4 -1.1 5.8 0.5 10.8 3.4 0.2 4.7 7.6 0.3 7.2 3.1 -0.2 3.6 1.6 -0.0 5.2 1.1 0.6 3.0 -2.6 2.9 3.1 15.4 0.3 2.0 12 13 14 15 16 17 Life insurance companies Other insurance companies State and local govt. retirement funds 1.5 14.4 -1.3 0.1 2.6 0.9 1.7 16.5 1.7 1.7 -9.1 -0.2 -1.0 -14.9 -1.5 -0.5 -17.0 -0.5 -1.4 -17.5 -0.4 -0.9 -9.1 -2.5 -1.2 -15.9 -2.3 1.6 4.7 0.7 3.2 3.0 -1.0 15 16 17 18 19 20 21 22 Money market mutual funds Mutual funds Closed-end funds Government-sponsored enterprises Brokers and dealers 16.8 3.1 1.3 0.0 -1.9 22.5 6.5 -0.8 -0.4 2.4 26.0 22.8 1.9 4.1 -0.1 17.5 -3.2 8.7 1.4 -1.2 34.3 -8.9 -4.6 -1.8 -0.7 30.8 -28.3 -4.6 -5.7 -4.4 24.2 -17.9 -4.6 -0.1 -3.9 29.8 2.0 -4.6 3.0 3.9 52.6 8.5 -4.6 -4.5 1.8 14.3 22.0 -4.6 4.7 5.5 39.2 15.0 -4.6 8.3 4.1 18 19 20 21 22 (1) Debt with original maturity of 13 months or less. (2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100). F.212 Corporate and Foreign Bonds Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Net issues 357.0 422.4 550.4 457.9 429.8 396.0 412.7 468.0 442.6 893.7 617.4 1 2 3 Nonfinancial corporate business Rest of the world (1) 116.3 67.0 150.5 61.4 218.7 34.9 229.9 16.8 175.0 54.3 186.2 44.7 153.8 31.2 184.4 91.5 175.6 49.6 403.7 33.3 423.7 36.0 2 3 4 5 6 Financial sectors Commercial banking Savings institutions 173.8 7.8 -0.4 210.5 23.7 0.1 296.9 27.6 -0.2 211.2 20.4 0.2 200.5 32.6 3.5 165.0 33.1 -0.0 227.7 38.1 0.0 192.1 32.7 2.6 217.4 26.5 11.5 456.7 79.5 -14.0 157.7 9.1 14.5 4 5 6 7 8 9 10 11 ABS issuers Finance companies REITs Brokers and dealers Funding corporations 105.4 32.5 1.3 -2.0 29.2 112.9 20.3 14.8 8.1 30.6 195.7 10.9 21.7 7.2 34.0 84.4 57.2 8.9 -17.2 57.4 75.2 66.8 4.8 15.6 1.9 38.4 60.1 6.6 44.4 -17.6 20.6 132.7 13.2 -0.7 23.8 53.9 81.5 5.6 25.4 -9.6 188.0 -6.9 -6.3 -6.6 11.2 205.3 151.9 12.2 -23.7 45.6 75.0 11.2 -14.0 35.6 26.3 7 8 9 10 11 12 357.0 422.4 550.4 457.9 429.8 396.0 412.7 468.0 442.6 893.7 617.4 12 13 14 15 Net purchases Household sector State and local governments Rest of the world (2) 71.4 10.7 83.7 77.2 1.3 84.6 83.5 10.2 122.2 16.5 12.6 160.8 2.0 3.7 183.1 -38.4 6.1 178.3 175.8 4.7 169.1 -92.2 1.6 185.6 -37.3 2.4 199.4 226.2 11.5 280.2 -163.4 7.2 279.6 13 14 15 16 17 18 Commercial banking Savings institutions Bank personal trusts and estates 1.4 -9.9 -1.7 27.8 -9.9 -0.8 38.0 29.9 -2.6 38.8 23.3 11.3 57.6 -2.5 8.1 -22.9 15.0 8.0 19.3 -20.5 6.6 138.0 -13.2 7.6 96.0 8.7 10.2 52.1 -54.0 10.1 142.3 -11.5 12.4 16 17 18 19 20 21 22 Life insurance companies Other insurance companies Private pension funds State and local govt. retirement funds 79.2 18.3 2.9 22.2 86.8 18.9 33.8 33.1 84.5 11.6 17.1 35.1 41.5 10.0 9.3 30.4 49.0 6.4 14.5 29.7 76.9 4.7 13.2 61.1 23.1 4.0 10.2 -27.2 55.8 11.9 25.1 37.5 40.2 5.2 9.6 47.3 118.8 8.8 34.7 27.8 113.4 6.0 41.7 21.4 19 20 21 22 23 24 25 Money market mutual funds Mutual funds Closed-end funds 2.4 33.8 3.2 12.5 44.4 -0.5 44.8 65.5 4.5 42.5 29.3 -0.0 38.2 -1.3 -3.5 79.7 -19.0 -3.5 -36.1 8.7 -3.5 77.0 9.2 -3.5 32.1 -4.0 -3.5 -1.1 57.8 -3.5 -6.8 62.4 -3.5 23 24 25 26 27 28 29 Government-sponsored enterprises REITs Brokers and dealers Funding corporations 10.8 1.4 14.5 12.8 5.3 2.1 9.2 -3.4 20.7 -0.4 -18.6 4.5 23.7 -0.3 12.0 -3.8 25.8 -0.4 19.3 0.1 11.0 -0.7 66.3 -40.0 49.1 3.5 -3.5 29.4 29.5 -3.1 30.0 -28.8 13.6 -1.4 -15.7 40.0 31.7 8.6 45.3 38.7 54.4 -9.0 32.0 38.7 26 27 28 29 (1) Net purchases of foreign issues by U.S. residents. (2) Net purchases of U.S. issues by foreign residents. 45 Z.1, September 18, 2001 F.213 Corporate Equities (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 Q1 1 Net issues 2 Nonfinancial corporate business 3 Rest of the world (2) 4 5 6 7 8 9 10 11 Financial sectors Commercial banking Life insurance companies Other insurance companies Closed-end funds REITs Brokers and dealers Net purchases 2001 Q2 Q3 Q4 Q1 Q2 -5.8 -83.3 -171.8 -42.1 -94.8 80.4 -68.7 -68.1 -322.7 73.6 143.8 1 -69.5 -114.4 -267.0 -143.5 -166.6 61.2 -245.2 -87.7 -394.8 -33.9 -35.2 2 82.8 57.6 101.3 114.4 99.7 62.6 185.9 61.1 89.4 109.2 208.8 3 -19.2 -14.3 -8.8 -4.8 3.0 12.3 -6.5 -26.5 -27.7 -4.0 -13.7 -7.7 32.5 -5.9 -6.1 -11.2 -4.7 -4.7 -7.8 19.8 2.5 -13.0 -10.6 -6.0 -7.8 -2.8 6.6 7.6 -27.9 -12.5 -0.8 -4.5 -8.1 2.2 -4.3 -43.4 -26.1 -6.2 -13.1 -8.1 2.6 7.5 -9.3 -16.0 12.9 -1.5 -8.1 2.0 1.4 -41.5 -2.8 -4.9 -1.0 -8.1 1.4 -26.0 -17.4 -5.2 -4.8 -2.4 -8.1 3.0 0.1 -1.8 -8.1 -5.8 -1.8 -8.1 1.4 20.6 -29.9 -7.9 -5.3 -2.0 -8.1 3.2 -9.8 4 5 6 7 8 9 10 -5.8 -83.3 -171.8 -42.1 -94.8 80.4 -68.7 -68.1 -322.7 73.6 143.8 11 -192.6 14.5 11.1 -293.4 16.8 67.8 -248.7 9.4 42.0 -264.4 3.5 112.3 -484.1 -1.2 193.8 -558.9 -5.6 266.2 -367.5 10.7 136.1 -430.7 -4.1 214.9 -579.5 -5.6 158.2 -297.6 16.9 164.4 -203.9 21.0 137.8 12 13 14 Commercial banking Savings institutions Bank personal trusts and estates 1.8 0.6 -17.3 0.6 0.2 -0.5 1.3 1.5 -70.4 1.2 -0.7 -40.4 0.3 0.4 -20.0 0.8 1.5 -20.0 0.9 -1.3 -20.0 1.3 1.5 -20.0 -1.8 0.1 -20.0 -1.5 4.7 -20.0 -0.5 3.0 -20.0 15 16 17 18 19 20 21 Life insurance companies Other insurance companies Private pension funds State and local govt. retirement funds 46.7 -6.8 -71.5 18.2 86.3 3.0 -137.8 9.4 115.3 -5.0 -113.0 -28.2 111.9 -1.7 -92.2 -6.2 105.9 0.7 -80.8 -8.9 126.4 -9.3 -102.4 -27.9 127.1 -11.8 -62.4 8.0 97.7 -16.4 -114.4 -3.8 72.5 40.4 -44.2 -11.9 93.6 6.0 -40.5 7.8 78.0 0.4 -46.2 6.9 18 19 20 21 22 23 24 Mutual funds Closed-end funds Brokers and dealers 193.0 -1.6 -1.9 166.8 -5.1 2.4 143.3 -13.3 -6.0 136.9 -10.2 7.7 190.9 0.4 7.7 378.2 0.4 31.1 108.4 0.4 2.8 186.9 0.4 18.6 90.3 0.4 -21.6 99.6 0.4 39.8 134.7 0.4 32.4 22 23 24 12 13 14 Household sector State and local governments Rest of the world (3) 15 16 17 (1) Excludes mutual fund shares shown on table F.214. (2) Net purchases of foreign issues by U.S. residents; includes American Depositary Receipts (ADRs). (3) Net purchases of U.S. issues by foreign residents. F.214 Mutual Fund Shares Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Net issues 237.6 265.1 274.6 188.3 243.9 307.3 232.0 279.4 156.7 96.4 283.8 1 2 Net purchases 237.6 265.1 274.6 188.3 243.9 307.3 232.0 279.4 156.7 96.4 283.8 2 3 4 5 Household sector Nonfinancial corporate business State and local governments 195.5 3.3 6.0 259.6 -8.2 -7.4 243.4 7.3 -12.3 141.7 -1.8 4.3 229.8 -1.8 0.8 286.8 -1.8 -10.7 215.6 -1.8 5.6 271.1 -1.8 4.5 145.6 -1.8 4.0 67.4 -1.8 9.4 280.0 -1.8 7.9 3 4 5 6 7 8 Commercial banking Credit unions Bank personal trusts and estates 0.3 -0.3 7.3 0.8 -0.2 -14.9 -0.4 1.2 27.0 1.2 -1.1 -1.5 2.5 -0.3 -30.5 5.1 2.7 -30.5 -0.1 -3.8 -30.5 -0.3 -0.2 -30.5 5.4 0.0 -30.5 13.6 -0.9 -20.0 -2.1 6.4 -20.0 6 7 8 Life insurance companies Private pension funds 2.4 23.0 -7.2 42.7 -23.4 31.7 15.0 30.7 11.0 32.4 12.0 43.7 12.4 34.8 10.1 26.6 9.6 24.5 2.0 26.8 2.0 11.5 9 10 9 10 46 Z.1, September 18, 2001 F.215 Bank Loans Not Elsewhere Classified Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 1 Total loans by commercial banking, flow of funds basis 174.2 234.7 253.4 200.1 370.4 529.0 512.4 262.6 177.6 280.5 -56.5 1 2 3 4 5 - Loans elsewhere classified: Open market paper Mortgages Consumer credit Security credit 0.8 55.2 24.8 1.3 -0.8 99.9 -14.2 21.7 -0.2 91.7 -3.6 20.5 0.3 158.2 -9.2 -18.1 0.1 164.1 41.7 50.4 0.4 247.0 39.5 84.2 -0.4 261.1 55.7 16.8 -0.1 127.6 53.9 29.1 0.7 20.7 17.8 71.4 0.1 158.8 13.7 73.8 0.0 132.2 54.4 -86.7 2 3 4 5 6 = Banking sector total bank loans n.e.c. 92.1 128.2 145.0 68.9 114.1 158.0 179.2 52.2 67.1 34.1 -156.5 6 58.2 32.2 0.2 1.4 108.1 19.2 -0.0 0.9 144.3 -1.9 1.7 0.9 92.2 -22.3 -1.6 0.5 98.2 15.8 -0.9 1.1 135.5 21.6 -2.9 3.8 168.8 1.0 8.6 0.8 59.3 0.3 -9.0 1.6 29.2 40.1 -0.5 -1.7 11.1 18.2 4.3 0.5 -92.8 -64.7 -0.2 1.3 7 8 9 10 7 8 9 10 U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies Banks in U.S.-affiliated areas 11 + Loans from Federal Reserve banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11 12 = Total bank loans n.e.c. 92.1 128.2 145.0 68.9 114.1 158.0 179.2 52.2 67.1 34.1 -156.5 12 13 Net change in liabilities 92.1 128.2 145.0 68.9 114.1 158.0 179.2 52.2 67.1 34.1 -156.5 13 79.5 115.0 115.0 83.3 114.4 154.9 169.0 62.1 71.5 6.3 -171.0 14 0.6 40.4 28.9 0.6 8.1 51.1 43.8 3.5 6.3 81.8 18.9 1.2 -7.2 73.0 17.9 -0.9 8.2 74.3 17.9 2.7 34.1 84.9 18.3 2.2 -5.9 134.5 33.4 1.2 7.4 36.3 7.3 -0.8 -2.8 41.5 12.5 8.2 -18.1 8.5 0.7 2.2 -25.8 -95.7 -20.2 -2.3 15 16 17 18 9.1 0.3 3.4 5.4 8.5 -0.8 -0.5 9.8 6.7 0.8 -0.7 6.7 0.5 0.2 -3.1 3.5 11.3 0.5 3.2 7.5 15.4 -0.8 5.7 10.6 5.7 1.4 2.6 1.7 11.9 1.8 2.2 7.9 12.2 -0.3 2.5 9.9 13.0 0.4 12.1 0.5 -26.9 -1.2 -28.3 2.6 19 20 21 22 12.6 13.2 30.1 -14.3 -0.3 3.1 10.2 -9.9 -4.4 27.8 14.5 23 1.4 4.4 4.1 2.7 3.5 4.4 -4.6 9.9 10.3 2.1 1.6 16.0 -15.7 8.8 0.2 -7.6 7.4 0.5 0.1 -8.3 25.4 -17.2 -3.0 -2.1 3.5 20.8 2.7 -16.9 -1.9 2.8 -0.3 -10.6 2.7 -4.4 1.0 -3.7 4.6 33.1 0.7 -10.6 -3.7 17.0 0.6 0.7 24 25 26 27 14 Nonfinancial sectors 15 16 17 18 Household sector Corporate business Nonfarm noncorporate business Farm business 19 20 21 22 Rest of the world Foreign official institutions Foreign banks Other foreign 23 24 25 26 27 Financial sectors Savings institutions Finance companies Mortgage companies REITs 47 Z.1, September 18, 2001 F.216 Other Loans and Advances Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 1 Total other loans and advances 62.5 102.8 158.5 162.0 145.3 233.6 246.9 -15.0 115.8 83.7 92.5 1 2 3 4 5 6 7 8 9 U.S. government loans Liab.: Household sector Nonfinancial corporate business Nonfarm noncorporate business Farm business State and local governments Rest of the world Government-sponsored enterprises 0.0 3.1 -1.3 -0.3 -1.1 0.4 -0.7 0.0 9.6 11.4 -0.3 1.8 -0.5 -1.2 -1.6 0.0 14.4 10.6 -0.1 4.0 -0.3 1.2 -1.0 0.0 5.9 12.6 -0.3 -0.9 -0.3 -0.4 -4.8 0.0 8.2 11.2 -0.4 -1.1 0.1 -1.0 -0.6 0.0 10.3 12.4 -0.6 -0.3 0.2 -1.6 0.3 0.0 7.6 10.7 -0.4 -1.3 -0.2 -1.6 0.4 0.0 5.8 11.1 -0.7 -1.2 0.2 -1.3 -2.2 0.0 9.1 10.9 -0.0 -1.6 0.2 0.4 -0.8 0.0 7.0 10.5 0.3 -2.6 0.2 0.4 -1.8 0.0 9.9 11.7 -1.2 -2.2 0.3 0.4 1.0 0.0 2 3 4 5 6 7 8 9 10 11 Foreign loans to U.S. corporate business Liab.: Nonfinancial corporate business 3.9 3.9 17.3 17.3 -1.0 -1.0 -22.7 -22.7 -2.2 -2.2 -17.6 -17.6 16.9 16.9 -40.6 -40.6 32.4 32.4 -32.2 -32.2 24.6 24.6 10 11 12 13 14 Customers liability on acceptances outstanding (Commercial banking asset) Liab.: Nonfinancial corporate business Rest of the world 1.0 -0.7 1.8 -2.8 -2.6 -0.2 -9.3 -4.3 -5.0 -3.1 -2.2 -0.9 -0.7 -0.0 -0.7 2.0 2.8 -0.8 0.7 -0.6 1.2 -2.7 -3.2 0.5 -2.9 0.8 -3.7 0.0 9.9 -9.9 -4.0 -3.7 -0.3 12 13 14 15 16 17 Savings institution loans to business Liab.: Nonfinancial corporate business Nonfarm noncorporate business 3.0 1.5 1.5 3.1 1.6 1.6 5.3 2.7 2.7 6.5 3.2 3.2 8.7 4.3 4.3 11.2 5.6 5.6 7.8 3.9 3.9 10.1 5.0 5.0 5.7 2.8 2.8 8.2 4.1 4.1 9.6 4.8 4.8 15 16 17 18 19 20 Policy loans (Household liability) Asset: Federal government Life insurance companies 4.5 0.0 4.5 3.2 0.0 3.2 0.1 -0.0 0.1 -5.1 -0.0 -5.0 2.8 -0.0 2.9 -1.3 -0.0 -1.3 3.6 -0.0 3.6 5.8 -0.0 5.8 3.2 -0.0 3.2 4.0 0.0 4.0 0.8 0.0 0.8 18 19 20 21 22 23 24 25 26 27 28 Govt.-sponsored enterprises loans 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) 28.8 -0.6 -1.2 2.7 2.3 24.5 0.1 1.1 31.2 -4.4 0.0 0.0 19.1 16.2 0.1 0.2 92.3 -1.2 2.7 0.6 46.9 42.1 0.6 0.7 113.6 5.6 0.0 0.9 40.6 63.5 2.2 0.7 41.3 -4.2 1.5 1.5 26.8 16.3 0.0 -0.7 79.0 -8.9 -3.2 4.1 58.6 32.1 -2.9 -0.7 119.9 -2.5 4.6 -1.4 53.9 65.5 0.9 -1.1 -39.0 -11.4 2.7 1.3 6.2 -38.6 1.1 -0.3 5.5 6.0 2.0 2.3 -11.4 6.3 1.0 -0.7 109.3 2.3 -0.2 -0.6 39.0 71.9 -0.6 -2.4 -0.6 4.8 6.2 -0.5 -17.4 5.4 0.8 0.1 21 22 23 24 25 26 27 28 29 30 31 Securitized loans held by ABS issuers Liab.: Households (1) Nonfinancial corporate business 13.3 5.3 8.1 32.2 7.8 24.4 27.6 3.8 23.8 9.2 1.5 7.7 21.2 6.5 14.7 44.9 13.6 31.3 4.6 6.8 -2.3 -4.5 8.8 -13.2 39.9 -3.3 43.2 -0.7 2.5 -3.2 5.0 -0.1 5.1 29 30 31 32 33 34 Finance company loans to business Liab.: Nonfinancial corporate business Nonfarm noncorporate business 7.9 7.1 0.8 9.0 8.1 0.9 29.0 26.1 2.9 57.6 51.9 5.8 66.0 59.4 6.6 105.1 94.6 10.5 85.7 77.2 8.6 50.1 45.1 5.0 23.0 20.7 2.3 -11.8 -10.6 -1.2 47.2 42.4 4.7 32 33 34 (1) Student loans. 48 Z.1, September 18, 2001 F.217 Total Mortgages Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 1 Net change in mortgages 285.3 332.5 510.9 601.0 573.2 505.9 664.6 571.0 551.3 555.6 839.4 1 2 3 4 5 Home Multifamily residential Commercial Farm 242.9 12.0 27.7 2.7 252.6 12.5 64.2 3.1 384.2 32.0 88.1 6.5 429.5 44.4 121.4 5.8 417.2 39.8 109.2 6.9 356.2 33.3 109.0 7.4 484.6 52.3 117.6 10.1 435.9 31.5 97.1 6.5 392.3 42.3 113.0 3.8 431.5 37.9 81.7 4.5 613.9 61.4 154.9 9.1 2 3 4 5 285.3 332.5 510.9 601.0 573.2 505.9 664.6 571.0 551.3 555.6 839.4 6 230.2 233.4 355.0 394.2 380.4 318.1 451.9 395.4 356.2 385.2 595.8 7 6 7 Net borrowing Household sector 8 9 10 11 Nonfinancial business Corporate Nonfarm noncorporate Farm 47.3 6.5 38.2 2.7 84.2 33.4 47.7 3.1 131.1 16.8 107.7 6.5 201.8 66.3 129.7 5.8 186.6 63.0 116.7 6.9 180.7 68.6 104.8 7.4 202.7 57.3 135.4 10.1 169.6 52.7 110.4 6.5 193.3 73.3 116.2 3.8 177.9 52.9 120.5 4.5 227.5 86.2 132.2 9.1 8 9 10 11 12 13 Federal government REITs -0.0 7.9 -0.0 14.9 0.0 24.8 0.0 5.1 0.0 6.2 0.0 7.0 0.0 10.0 0.0 6.0 0.0 1.8 0.0 -7.5 0.0 16.0 12 13 14 Net change in assets 285.3 332.5 510.9 601.0 573.2 505.9 664.6 571.0 551.3 555.6 839.4 14 15 16 17 Household sector Nonfinancial corporate business Nonfarm noncorporate business 0.1 -3.6 -1.4 0.1 25.9 -1.6 0.9 -13.0 11.9 -0.3 -7.0 10.0 1.5 -5.0 7.9 3.5 -5.0 7.9 2.4 -5.0 15.2 1.0 -5.0 2.3 -0.7 -5.0 6.2 0.2 -5.0 6.0 0.5 -5.0 5.6 15 16 17 18 19 State and local governments Federal government 3.8 -7.2 3.7 -4.5 4.1 -0.8 4.3 -0.1 4.5 -0.9 4.4 -3.8 4.5 0.1 4.5 -1.3 4.6 1.6 4.6 -2.4 4.7 -0.6 18 19 20 21 22 23 Commercial banking Savings institutions (1) Credit unions Bank personal trusts and estates 55.2 31.6 9.5 0.3 99.9 3.5 10.1 -0.6 91.7 12.1 10.9 -0.2 158.2 24.7 14.1 -0.6 164.1 55.2 16.4 -0.1 247.0 60.3 16.2 -0.1 261.1 82.4 15.8 -0.2 127.6 62.4 17.2 -0.2 20.7 15.5 16.3 -0.1 158.8 75.2 -1.1 -0.1 132.2 39.5 12.5 -0.0 20 21 22 23 24 25 26 27 Life insurance companies Other insurance companies Private pension funds State and local govt. retirement funds -5.0 -0.4 0.6 0.8 -1.3 -0.2 0.7 0.9 6.8 -0.3 1.9 6.5 15.7 -0.0 1.9 -2.6 5.2 -0.3 1.7 -0.0 -5.7 2.5 2.1 0.9 13.0 -2.8 1.4 -2.9 8.5 -0.7 1.7 1.9 4.8 -0.2 1.4 0.1 -3.6 0.0 1.5 2.5 4.0 -0.2 1.2 2.6 24 25 26 27 28 29 30 Government-sponsored enterprises (1) Federally related mortgage pools ABS issuers -6.1 141.0 48.1 -4.5 114.6 80.7 8.3 192.6 156.5 -4.3 273.8 92.0 22.7 199.4 85.2 6.8 119.5 54.4 38.6 132.2 74.2 17.3 236.7 83.5 28.0 309.1 128.6 11.6 170.3 115.3 36.3 406.5 179.6 28 29 30 31 32 33 Finance companies Mortgage companies REITs 10.2 8.2 -0.3 5.3 -9.1 9.1 14.4 3.2 3.4 24.2 0.3 -3.3 21.8 0.2 -6.2 16.0 -6.0 -15.2 31.4 5.5 -2.2 17.4 -0.5 -3.5 22.3 2.0 -3.8 22.2 1.4 -1.9 23.0 1.1 -4.2 31 32 33 (1) FHLB loans to savings institutions are included in other loans and advances. 49 Z.1, September 18, 2001 F.218 Home Mortgages (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1 2 3 4 5 Net borrowing Household sector Nonfinancial corporate business Nonfarm noncorporate business 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 242.9 252.6 384.2 429.5 417.2 356.2 484.6 435.9 392.3 431.5 613.9 1 225.5 1.0 16.4 234.7 0.2 17.8 345.7 1.4 37.2 383.7 2.2 43.6 377.3 2.0 38.0 321.8 2.0 32.4 438.9 2.2 43.6 391.9 2.6 41.4 356.7 1.1 34.4 385.1 3.5 42.9 572.1 2.6 39.3 2 3 4 242.9 252.6 384.2 429.5 417.2 356.2 484.6 435.9 392.3 431.5 613.9 5 Household sector Nonfinancial corporate business Nonfarm noncorporate business -1.2 -9.3 -0.5 -1.1 5.3 -0.6 -1.1 -2.7 4.5 -1.1 -1.4 3.8 -1.0 -1.0 3.0 -1.1 -1.0 3.0 -1.0 -1.0 5.7 -1.0 -1.0 0.9 -1.0 -1.0 2.3 -1.0 -1.0 2.2 -1.0 -1.0 2.1 6 7 8 9 10 State and local governments Federal government 2.3 -3.0 3.0 -2.0 3.3 -0.3 3.5 -0.4 3.7 -0.7 3.6 -0.3 3.6 -0.2 3.7 -2.0 3.7 -0.4 3.8 -0.4 3.8 -0.6 9 10 11 12 13 14 Commercial banking Savings institutions Credit unions Bank personal trusts and estates 31.1 31.4 9.5 0.3 67.9 7.0 10.1 -0.6 51.1 12.7 10.9 -0.2 82.1 15.1 14.1 -0.6 86.4 46.1 16.4 -0.1 142.1 49.4 16.2 -0.1 169.8 73.7 15.8 -0.2 68.1 50.2 17.2 -0.2 -34.2 11.0 16.3 -0.1 93.8 57.5 -1.1 -0.1 70.2 30.4 12.5 -0.0 11 12 13 14 15 16 17 Life insurance companies Private pension funds State and local govt. retirement funds -1.9 0.6 0.6 0.2 0.8 0.6 -0.6 1.3 2.8 -0.7 1.4 -0.9 -1.0 1.5 -0.0 -1.5 1.6 0.3 -1.3 1.3 -1.0 -1.3 1.5 0.7 -0.0 1.4 0.0 -0.1 1.5 0.9 -0.0 1.4 0.9 15 16 17 18 19 20 Government-sponsored enterprises Federally related mortgage pools ABS issuers -6.7 135.4 31.8 -4.2 109.3 54.5 5.3 182.1 94.5 -10.3 264.6 49.9 15.8 190.9 44.8 1.8 113.0 34.0 31.4 124.5 33.5 11.3 228.9 51.0 18.5 297.0 60.8 4.7 157.2 93.9 22.7 387.4 63.6 18 19 20 21 22 23 Finance companies Mortgage companies REITs 13.4 8.2 1.1 6.9 -10.2 6.0 16.8 3.1 0.8 12.5 0.3 -2.4 17.1 0.2 -4.6 15.5 -6.0 -14.4 26.5 5.5 -1.9 9.8 -0.6 -1.1 16.7 1.9 -0.8 18.8 1.4 -0.4 21.4 1.0 -0.8 21 22 23 46.0 13.8 1.7 2.6 18.5 9.4 72.3 20.1 3.2 3.5 38.6 6.9 54.9 2.9 0.5 0.7 34.0 16.8 50.4 12.6 3.8 3.7 17.7 12.5 92.4 45.3 13.1 7.3 9.6 17.1 75.5 41.1 10.3 9.3 6.4 8.5 111.5 52.2 10.5 7.7 16.4 24.7 89.6 42.9 13.7 9.3 6.4 17.4 93.0 45.1 18.0 2.9 9.2 17.9 60.0 3.2 1.7 2.7 41.6 10.8 89.9 39.5 14.2 3.2 13.6 19.5 24 25 26 27 28 29 6 7 8 24 25 26 27 28 29 Net change in assets 1997 Memo: Home equity loans included above (2) Commercial banking Savings institutions Credit unions ABS issuers Finance companies (1) Mortgages on 1-4 family properties. (2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by mortgage companies and individuals. F.219 Multifamily Residential Mortgages Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Net borrowing 12.0 12.5 32.0 44.4 39.8 33.3 52.3 31.5 42.3 37.9 61.4 1 0.9 8.5 1.1 6.5 1.1 22.7 1.2 41.5 1.3 36.5 1.3 29.7 1.3 47.7 1.3 28.3 1.3 40.4 1.3 39.1 1.3 54.8 2 3 2 3 Nonfinancial corporate business Nonfarm noncorporate business 4 5 Federal government REITs -0.0 2.6 -0.0 4.9 0.0 8.2 0.0 1.7 0.0 2.1 0.0 2.3 0.0 3.3 0.0 2.0 0.0 0.6 0.0 -2.5 0.0 5.3 4 5 6 Net change in assets 12.0 12.5 32.0 44.4 39.8 33.3 52.3 31.5 42.3 37.9 61.4 6 Household sector Nonfinancial corporate business Nonfarm noncorporate business -0.1 0.7 -0.5 -0.1 0.6 -0.5 -0.0 -0.3 4.0 -0.0 -0.2 3.3 -0.0 -0.1 2.6 -0.0 -0.1 2.6 -0.0 -0.1 5.0 -0.0 -0.1 0.8 -0.0 -0.1 2.1 -0.0 -0.1 2.0 -0.0 -0.1 1.9 7 8 9 10 11 State and local governments Federal government 1.8 -2.9 0.6 -0.9 0.9 -0.3 0.9 -0.0 1.0 0.3 1.0 0.3 1.0 0.2 1.0 0.2 1.0 0.5 1.0 -2.4 1.0 0.2 10 11 12 13 Commercial banking Savings institutions 2.9 -0.4 4.2 -2.0 3.2 -2.5 13.1 2.3 11.7 1.9 19.1 -5.4 19.7 5.3 4.9 3.7 3.2 4.1 8.3 6.4 2.4 2.0 12 13 14 15 16 Life insurance companies Private pension funds State and local govt. retirement funds 2.0 0.0 0.2 -0.3 -0.0 0.2 1.1 0.1 1.8 1.1 0.1 -0.7 0.9 0.0 -0.0 -0.7 0.1 0.2 2.0 0.0 -0.8 1.3 0.1 0.5 0.8 0.0 0.0 -0.5 -0.0 0.7 -0.0 -0.1 0.7 14 15 16 17 18 19 Government-sponsored enterprises Federally related mortgage pools ABS issuers -0.5 5.6 4.0 -1.2 5.3 5.0 0.8 10.5 12.8 4.8 9.2 8.5 4.9 8.5 7.3 5.2 6.5 3.4 4.6 7.7 5.4 3.3 7.8 6.9 6.6 12.0 13.5 4.1 13.1 4.9 7.5 19.2 24.9 17 18 19 20 21 22 Finance companies Mortgage companies REITs -0.6 -0.1 -0.4 -0.2 1.0 0.9 -0.2 0.1 0.1 2.4 0.0 -0.6 1.0 0.0 -0.2 1.9 0.0 -0.8 1.3 0.0 0.9 1.3 0.0 -0.3 -0.7 0.0 -0.7 1.1 0.1 -0.7 1.6 0.1 0.2 20 21 22 7 8 9 50 Z.1, September 18, 2001 F.220 Commercial Mortgages Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1 2 3 4 5 6 Net borrowing Household sector Nonfinancial corporate business Nonfarm noncorporate business REITs 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 27.7 64.2 88.1 121.4 109.2 109.0 117.6 97.1 113.0 81.7 154.9 1 4.7 4.6 13.3 5.3 -1.2 32.2 23.4 10.0 9.4 14.4 47.8 16.6 10.4 62.9 44.6 3.4 3.1 59.7 42.2 4.2 -3.7 65.3 42.7 4.7 13.0 53.8 44.1 6.7 3.5 48.8 40.8 4.1 -0.6 70.9 41.4 1.2 0.2 48.1 38.5 -5.0 23.7 82.3 38.1 10.7 2 3 4 5 27.7 64.2 88.1 121.4 109.2 109.0 117.6 97.1 113.0 81.7 154.9 6 Household sector Nonfinancial corporate business Nonfarm noncorporate business 0.7 5.1 -0.4 0.7 20.0 -0.4 0.9 -10.0 3.1 0.7 -5.4 2.6 0.7 -3.8 2.1 0.7 -3.8 2.1 0.7 -3.8 4.0 0.6 -3.8 0.6 0.6 -3.8 1.6 0.6 -3.8 1.6 0.6 -3.8 1.5 7 8 9 10 11 State and local governments Federal government -0.2 -0.9 0.2 -0.7 -0.1 0.1 -0.1 0.6 -0.1 -0.4 -0.1 -3.5 -0.1 0.1 -0.1 0.5 -0.1 1.5 -0.1 0.7 -0.1 -0.0 10 11 12 13 Commercial banking Savings institutions 20.2 0.6 25.7 -1.5 35.3 1.9 60.1 7.2 63.8 7.1 82.4 16.2 68.9 3.3 53.6 8.5 50.2 0.4 55.4 11.1 57.6 7.1 12 13 14 15 16 17 Life insurance companies Other insurance companies Private pension funds State and local govt. retirement funds -5.6 -0.4 0.0 -0.0 -1.5 -0.2 -0.1 -0.0 5.2 -0.3 0.4 1.9 13.8 -0.0 0.4 -1.0 4.7 -0.3 0.1 -0.0 -3.6 2.5 0.4 0.3 10.8 -2.8 0.0 -1.1 7.2 -0.7 0.2 0.7 4.4 -0.2 0.0 0.0 -2.7 0.0 -0.0 0.9 4.0 -0.2 -0.2 1.0 14 15 16 17 18 19 20 21 22 Federally related mortgage pools ABS issuers Finance companies Mortgage companies REITs -0.0 12.2 -2.6 0.0 -1.0 -0.0 21.3 -1.4 0.0 2.2 0.0 49.2 -2.1 0.0 2.5 0.0 33.6 9.3 0.0 -0.4 0.0 33.1 3.7 0.0 -1.4 0.0 17.1 -1.5 0.0 0.0 0.0 35.3 3.6 0.0 -1.2 0.0 25.7 6.3 0.0 -2.0 0.0 54.3 6.3 0.0 -2.4 0.0 16.5 2.2 0.0 -0.8 0.0 91.1 -0.0 0.0 -3.6 18 19 20 21 22 7 8 9 Net change in assets 1997 F.221 Farm Mortgages Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Net borrowing (Farm business) 2.7 3.1 6.5 5.8 6.9 7.4 10.1 6.5 3.8 4.5 9.1 1 2 Net change in assets 2.7 3.1 6.5 5.8 6.9 7.4 10.1 6.5 3.8 4.5 9.1 2 3 4 Household sector Nonfarm noncorporate business 0.6 -0.0 0.6 -0.1 1.1 0.4 0.2 0.3 1.9 0.3 4.0 0.3 2.8 0.5 1.3 0.1 -0.4 0.2 0.6 0.2 0.9 0.2 3 4 5 6 State and local governments Federal government -0.1 -0.5 -0.0 -0.9 -0.0 -0.3 -0.0 -0.2 0.0 -0.1 0.0 -0.3 -0.0 -0.1 0.0 -0.0 0.0 -0.1 0.0 -0.2 0.0 -0.1 5 6 7 8 Commercial banking Savings institutions 1.1 0.0 2.1 0.0 2.0 0.1 2.8 0.1 2.2 0.1 3.5 0.1 2.7 0.1 1.0 0.0 1.5 0.0 1.3 0.1 2.0 0.1 7 8 9 10 Life insurance companies State and local govt. retirement funds 0.5 0.0 0.4 0.0 1.1 0.0 1.5 0.0 0.6 0.0 0.0 0.0 1.5 0.0 1.3 0.0 -0.4 0.0 -0.2 0.0 -0.0 0.0 9 10 11 12 Government-sponsored enterprises Federally related mortgage pools 1.1 -0.0 1.0 -0.0 2.2 -0.0 1.1 -0.0 2.0 0.0 -0.2 0.0 2.6 0.0 2.7 0.0 2.9 0.0 2.8 0.0 6.1 0.0 11 12 51 Z.1, September 18, 2001 F.222 Consumer Credit Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 1 Net change in liabilities (Households) 88.8 52.5 67.6 94.4 132.3 145.3 137.9 122.5 123.7 158.1 72.8 1 2 Net change in assets 88.8 52.5 67.6 94.4 132.3 145.3 137.9 122.5 123.7 158.1 72.8 2 3 4 Nonfinancial corporate business Nonfarm noncorporate business -7.3 0.0 1.2 0.0 -4.1 0.0 5.4 0.0 2.4 0.0 43.0 0.0 -1.8 0.0 -21.8 0.0 -10.0 0.0 33.6 0.0 -24.9 0.0 3 4 5 6 7 Commercial banking Savings institutions Credit unions 24.8 4.6 12.2 -14.2 2.5 8.2 -3.6 4.4 3.0 -9.2 9.9 12.5 41.7 3.0 16.5 39.5 -10.2 16.9 55.7 7.9 20.9 53.9 6.3 16.2 17.8 8.1 12.0 13.7 3.8 5.6 54.4 -0.7 10.0 5 6 7 8 9 ABS issuers Finance companies 54.2 0.3 47.2 7.6 59.4 8.5 62.6 13.1 57.1 11.6 33.3 22.9 33.4 21.7 43.8 24.1 118.1 -22.3 115.7 -14.3 18.7 15.4 8 9 F.223 Trade Credit Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Net change in trade payables 123.3 139.7 109.2 222.3 156.4 193.5 193.9 132.8 105.4 -21.8 -10.1 1 8.0 8.9 8.7 6.0 5.9 7.1 7.0 5.6 3.9 6.9 4.7 2 Nonfinancial corporate business Nonfarm noncorporate business Farm business 49.5 30.6 1.3 65.1 31.0 1.4 57.6 23.1 0.8 144.4 25.5 0.4 92.1 22.4 0.9 113.7 26.0 1.1 94.4 33.2 1.6 113.0 14.3 -0.9 47.4 16.1 1.7 -47.6 12.8 1.5 -41.8 11.2 0.8 3 4 5 6 7 State and local governments Federal government 30.9 0.7 31.4 -8.8 30.5 -8.0 29.1 0.7 27.4 1.2 33.2 3.2 25.4 -2.3 25.4 2.1 25.5 1.6 24.8 -12.3 25.0 -13.4 6 7 8 9 Rest of the world Brokers and dealers -1.7 4.0 5.1 5.7 -2.4 -1.0 4.3 11.9 1.6 5.0 -2.4 11.6 12.1 22.6 -12.7 -14.0 9.2 0.0 -5.8 -2.2 11.5 -8.1 8 9 2 Household sector 3 4 5 10 Net change in trade receivables 148.7 168.9 160.5 179.3 193.2 265.6 243.9 182.2 81.3 -48.6 -5.1 10 11 12 Nonfinancial corporate business Nonfarm noncorporate business 88.1 29.5 93.5 35.1 86.3 40.7 113.4 45.8 102.7 40.8 186.1 40.8 111.6 78.3 107.7 17.0 5.5 27.1 -118.8 20.0 -34.7 14.0 11 12 13 14 Federal government Rest of the world 0.9 5.3 -3.2 4.5 1.5 -7.5 4.6 -7.5 5.3 10.4 6.0 -1.6 7.2 3.9 4.3 9.1 3.7 30.2 9.9 6.4 1.9 -4.6 13 14 15 16 Other insurance companies ABS issuers -0.1 25.0 2.7 36.3 1.6 37.9 2.0 21.1 1.0 33.0 10.0 24.2 4.5 38.4 6.1 38.0 -16.5 31.3 12.1 21.8 4.0 14.2 15 16 -25.4 -29.2 -51.3 42.9 -36.8 -72.1 -50.0 -49.4 24.1 26.7 -5.0 17 17 Discrepancy F.224 Security Credit Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Net change in liabilities 52.4 111.0 103.3 104.3 141.0 485.0 -91.4 94.7 75.6 -64.6 -82.9 1 2 3 Household sector Rest of the world 15.8 0.0 36.8 0.0 21.6 0.0 75.2 0.0 5.8 0.0 217.9 0.0 -58.6 0.0 14.6 0.0 -150.9 0.0 -151.6 0.0 0.6 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. 36.6 35.3 -4.8 6.2 74.2 52.6 4.2 17.5 81.7 61.2 11.9 8.6 29.1 47.2 -8.7 -9.4 135.2 84.9 7.1 43.2 267.1 182.9 35.8 48.4 -32.8 -49.6 -24.2 41.0 80.1 51.0 -11.6 40.7 226.5 155.1 28.5 42.9 87.0 13.2 30.0 43.8 -83.5 3.3 6.2 -93.0 4 5 6 7 8 Net change in assets 52.4 111.0 103.3 104.3 141.0 485.0 -91.4 94.7 75.6 -64.6 -82.9 8 9 10 Household sector Rest of the world 35.3 0.0 52.6 0.0 61.2 0.0 47.2 0.0 84.9 0.0 182.9 0.0 -49.6 0.0 51.0 0.0 155.1 0.0 13.2 0.0 3.3 0.0 9 10 11 12 Commercial banking Brokers and dealers 1.3 15.8 21.7 36.8 20.5 21.6 -18.1 75.2 50.4 5.8 84.2 217.9 16.8 -58.6 29.1 14.6 71.4 -150.9 73.8 -151.6 -86.7 0.6 11 12 52 Z.1, September 18, 2001 F.225 Life Insurance and Pension Fund Reserves Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 Life insurance reserves: 1 2 3 4 Net change in liabilities Federal government Life insurance companies Net change in assets (Households) 44.5 59.3 48.0 50.8 50.2 54.9 45.6 53.0 47.3 52.7 59.7 1 0.6 43.8 1.7 57.6 1.3 46.7 1.4 49.4 1.4 48.7 1.2 53.7 2.6 43.0 0.2 52.7 1.8 45.5 0.6 52.0 2.4 57.3 2 3 44.5 59.3 48.0 50.8 50.2 54.9 45.6 53.0 47.3 52.7 59.7 4 148.3 201.4 202.1 184.5 216.9 210.8 260.8 227.1 169.0 255.6 196.7 5 Pension fund reserves: 5 Net change in liabilities 6 7 Federal government (1) Life insurance companies 55.1 27.0 40.3 95.0 41.2 86.4 41.1 70.7 20.9 121.8 38.1 104.2 39.3 132.3 36.1 132.1 -29.9 118.6 117.5 94.3 44.5 101.0 6 7 8 9 Private pension funds (2) State and local govt. retirement funds 5.5 60.8 -10.4 76.5 13.0 61.5 12.8 59.9 19.9 54.3 6.7 61.8 22.6 66.6 14.8 44.1 35.5 44.8 23.1 20.8 16.1 35.1 8 9 10 Net change in assets (Households) (3) 148.3 201.4 202.1 184.5 216.9 210.8 260.8 227.1 169.0 255.6 196.7 10 (1) Includes civil service retirement and disability fund, Railroad Retirement Board, military retirement fund, judicial retirement funds, and foreign service retirement and disability fund. (2) Includes unallocated insurance company contracts beginning 1985:Q4. (3) Excludes all individual retirement accounts (IRAs) (table F.225.i), except those at life insurance companies. F.226 Taxes Payable by Businesses Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 Net change in taxes payable by all businesses 19.5 22.3 21.3 22.3 21.7 30.9 31.8 -1.6 25.9 0.6 2.0 1 2 3 Nonfinancial corporate business Nonfarm noncorporate business 9.6 4.9 9.3 7.3 4.8 10.7 7.0 8.3 7.0 7.5 16.3 8.7 16.3 11.1 -15.2 4.8 10.5 5.4 -6.8 4.0 -8.9 3.2 2 3 4 5 U.S.-chartered commercial banks Savings institutions 1.2 -0.1 1.4 0.4 1.7 0.2 1.9 0.0 2.1 0.4 2.1 -1.4 2.1 0.3 2.2 1.5 2.2 1.3 2.3 -0.7 2.4 -0.9 4 5 6 7 Life insurance companies Other insurance companies 0.5 2.5 1.2 1.8 1.2 2.0 1.3 2.0 1.6 2.3 1.4 2.0 1.6 2.2 1.6 2.3 1.8 2.5 1.8 2.6 1.9 2.7 6 7 8 9 Finance companies Brokers and dealers 0.8 0.1 0.8 0.1 0.8 -0.1 0.8 0.9 1.0 -0.1 0.9 0.9 0.9 -2.8 1.0 0.2 1.0 1.3 1.1 -3.5 1.1 0.5 8 9 -3.5 -5.7 1.6 15.8 7.6 21.5 21.7 5.9 -18.6 -1.1 29.0 10 -2.0 -1.6 3.3 -9.0 9.1 -7.5 8.8 7.0 11.9 -4.3 13.3 8.2 16.6 5.1 9.9 -4.0 7.7 -26.4 4.6 -5.7 3.4 25.6 11 12 23.1 28.0 19.7 6.5 14.1 9.4 10.0 -7.5 44.5 1.7 -26.9 13 10 11 12 13 Net change in business taxes receivable State and local governments Federal government Discrepancy 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 -5.3 -49.9 -41.8 -6.5 -29.7 -28.4 -33.1 -29.2 -28.0 -26.1 -22.7 1 2 Asset: Household sector -5.3 -49.9 -41.8 -6.5 -29.7 -28.4 -33.1 -29.2 -28.0 -26.1 -22.7 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 -31.6 -71.8 -74.0 -49.1 -30.7 -48.6 -28.8 -10.7 -34.9 -29.3 -13.0 1 -46.1 2.2 12.4 -86.8 0.0 14.9 -79.1 -1.5 6.6 -54.2 -8.0 13.1 -44.3 -14.8 28.3 -55.9 -22.1 29.4 -36.8 -8.5 16.5 -49.2 -8.7 47.2 -35.3 -19.8 20.2 -24.9 -6.7 2.3 -32.0 -11.2 30.2 2 3 4 53 Z.1, September 18, 2001 F.229 Total Miscellaneous Financial Claims Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 525.0 490.6 1002.5 738.1 992.3 999.5 1089.7 1283.9 595.9 570.9 932.1 1 2 3 4 Household sector Nonfinancial corporate business Nonfarm noncorporate business 0.8 225.2 29.7 0.3 22.1 56.5 -1.4 430.7 74.3 2.1 268.4 50.1 0.1 329.0 46.1 -2.9 269.2 46.1 0.8 370.0 46.2 -0.6 352.3 41.1 3.2 324.6 51.1 -3.3 212.8 34.7 0.2 33.4 35.6 2 3 4 5 6 Federal government Rest of the world -3.3 134.8 0.3 134.9 -7.1 173.5 -2.9 211.1 2.0 178.8 -7.6 252.2 5.4 71.3 7.9 311.1 2.3 80.6 0.6 183.1 4.1 82.7 5 6 7 8 9 10 Monetary authority Commercial banking Savings institutions Credit unions -0.1 20.1 -2.5 0.0 2.1 171.2 -2.1 0.1 1.3 120.9 -1.6 0.5 -1.3 -68.3 -14.4 0.9 1.1 184.7 17.1 -0.4 -13.5 56.0 -43.5 -1.5 0.5 285.3 -9.6 3.3 12.3 293.3 36.8 4.3 5.3 104.1 84.8 -7.8 -21.6 -62.8 -9.5 -19.4 -4.7 203.0 14.2 4.8 7 8 9 10 11 12 Life insurance companies Other insurance companies 28.5 12.3 36.0 10.7 42.8 5.6 36.8 12.4 18.6 5.9 36.5 7.4 20.9 20.1 29.5 17.9 -12.3 -21.8 60.9 14.4 31.4 5.8 11 12 13 14 15 Government-sponsored enterprises Finance companies Mortgage companies 0.3 3.1 4.1 7.8 -12.9 -4.6 20.3 17.8 1.6 -6.0 72.7 0.2 7.4 82.2 0.1 18.0 148.5 -3.0 -15.8 -23.8 2.7 -7.6 198.3 -0.3 35.0 5.6 1.0 82.1 26.6 0.7 -4.3 91.8 0.6 13 14 15 16 17 18 REITs Brokers and dealers Funding corporations 2.5 28.4 41.0 8.8 21.6 37.5 13.6 44.7 64.9 4.4 7.2 164.9 1.8 -5.7 123.4 -0.6 119.8 118.4 6.0 77.8 228.6 4.5 -0.5 -16.2 -2.6 -219.8 162.6 18.9 85.2 -32.5 -21.1 379.8 74.9 16 17 18 649.5 617.0 1140.2 1111.7 1354.7 1417.3 1442.4 1559.5 999.6 578.3 1223.2 19 19 Net change in liabilities 1997 Net change in assets 20 21 22 23 Household sector Nonfinancial corporate business Nonfarm noncorporate business Farm business 9.7 264.9 36.6 -0.1 10.3 38.6 56.4 0.4 9.7 449.6 76.3 0.5 12.4 429.1 62.7 0.2 4.7 400.1 51.6 -0.1 5.5 573.4 54.4 0.0 16.3 437.5 54.2 1.6 8.4 340.6 56.3 0.8 -11.5 249.0 41.6 -2.7 3.2 260.8 47.1 0.6 2.9 199.3 46.3 1.2 20 21 22 23 24 25 26 State and local governments Federal government Rest of the world -8.1 -6.7 143.5 -1.2 -5.4 208.0 -9.7 -3.5 203.8 7.7 -0.9 406.4 12.3 -1.4 466.6 18.7 -6.6 529.5 -10.9 0.1 405.5 30.8 0.5 568.5 10.7 0.4 363.0 23.6 -0.5 426.8 39.8 0.9 4.6 24 25 26 27 28 29 30 31 Monetary authority Commercial banking Savings institutions Credit unions Bank personal trusts and estates 2.4 25.9 -1.8 -0.2 3.9 1.3 103.5 -3.2 3.8 -1.4 4.9 124.1 13.8 6.8 8.4 -1.3 37.8 -2.5 -16.3 -2.5 1.1 102.9 7.4 15.4 -1.5 -2.8 -46.1 -3.1 -2.4 -2.1 -1.0 185.7 14.5 6.3 -2.8 4.5 189.4 10.3 17.5 -0.2 3.6 82.5 8.0 40.1 -0.9 -4.9 -131.7 71.3 24.0 -1.1 2.8 307.6 0.9 4.9 -0.7 27 28 29 30 31 32 33 34 35 Life insurance companies Other insurance companies Private pension funds State and local govt. retirement funds -31.4 3.6 35.9 8.2 -6.7 6.1 13.5 0.7 3.5 6.9 32.0 3.3 -34.6 4.2 18.9 16.3 20.7 7.5 16.3 8.8 15.2 5.2 15.3 -5.0 17.6 10.5 17.5 13.3 43.8 9.2 22.5 10.6 6.2 5.3 10.0 16.3 -72.2 7.6 6.0 15.4 -31.8 1.6 21.9 5.4 32 33 34 35 36 37 38 Money market mutual funds Mutual funds Government-sponsored enterprises 4.4 -1.7 6.8 14.3 7.1 7.1 9.6 -3.9 0.7 22.6 -4.3 5.0 12.2 -0.5 19.2 -17.1 -6.6 -37.9 222.3 -0.0 25.3 -61.4 2.9 39.6 -95.2 1.8 49.6 36.7 -5.6 -56.3 175.1 -0.2 0.4 36 37 38 39 40 41 42 Finance companies REITs Brokers and dealers Funding corporations 22.0 -1.7 68.2 65.2 18.9 4.9 82.8 57.3 16.1 10.7 115.9 60.7 48.5 -0.1 28.3 74.4 25.0 0.0 132.4 54.0 -25.2 1.7 274.9 78.3 7.5 -3.2 -7.5 32.1 117.6 5.1 124.5 17.6 -0.2 -3.6 137.8 87.8 -11.6 2.8 -123.4 59.9 21.9 3.9 451.9 -37.3 39 40 41 42 -124.5 -126.4 -137.7 -373.6 -362.4 -417.8 -352.7 -275.6 -403.7 -7.4 -291.1 43 43 Discrepancy 54 Z.1, September 18, 2001 F.230 Identified Miscellaneous Financial Claims - Part I Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 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 91.9 27.5 54.7 9.7 104.8 40.8 58.0 6.0 142.5 72.4 44.0 26.0 155.4 58.8 73.3 23.3 152.4 49.9 99.7 2.8 153.6 62.1 96.3 -4.9 133.4 57.3 98.5 -22.4 166.5 31.5 99.7 35.3 156.3 48.7 104.3 3.3 163.8 34.2 96.1 33.5 142.4 54.5 89.7 -1.8 1 2 3 4 Asset: Nonfinancial corporate business Commercial banking Life insurance companies Other insurance companies Finance companies Brokers and dealers 76.8 3.5 0.8 3.6 7.3 -0.1 84.3 3.0 1.8 6.1 9.0 0.7 129.1 2.0 0.7 6.9 0.5 3.4 136.2 3.3 2.6 4.2 5.5 3.7 122.0 7.3 1.9 7.5 10.8 3.0 128.5 5.2 3.7 5.2 9.0 1.9 95.2 2.9 1.9 10.5 19.5 3.5 117.9 17.5 3.3 9.2 15.7 2.8 146.2 3.7 -1.4 5.3 -1.1 3.6 138.5 2.2 3.6 7.6 8.2 3.8 121.9 5.5 2.2 1.6 8.2 3.0 5 6 7 8 9 10 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 72.0 0.3 -0.1 1.0 5.7 5.1 1.3 1.1 100.9 0.5 7.7 7.0 5.9 6.6 0.3 -23.4 144.4 0.2 5.5 2.7 1.3 2.6 1.7 20.0 262.6 0.2 19.1 12.3 9.9 11.4 3.3 -17.8 179.7 0.1 9.6 19.1 6.7 17.6 1.7 53.2 9.6 0.1 20.4 2.6 3.6 -7.6 2.3 115.1 307.3 0.2 1.9 9.5 5.8 3.1 1.6 32.1 291.4 0.1 3.3 21.9 10.5 5.2 2.3 -30.6 110.3 0.1 12.7 42.2 7.0 69.7 0.5 96.3 124.6 -0.3 1.2 14.9 6.0 23.6 4.5 35.3 105.0 0.1 15.6 12.9 -3.8 18.6 2.1 118.2 11 12 13 14 15 16 17 18 19 20 21 22 Asset: Rest of the world Equity Reinvested earnings Intercompany accounts 86.5 63.7 8.5 14.3 105.6 59.5 15.0 31.1 178.2 147.1 2.0 29.1 301.0 225.6 20.0 55.4 287.7 216.7 23.7 47.3 146.0 100.0 28.6 17.4 361.6 292.2 40.2 29.2 304.2 149.0 17.0 138.2 338.8 325.7 8.8 4.3 209.9 87.4 9.5 113.0 268.7 225.4 15.3 28.0 19 20 21 22 1.8 1.8 1.6 1.6 1.6 1.6 1.5 1.5 1.5 1.5 1.4 1.4 1.6 1.6 1.3 1.3 1.6 1.6 2.1 2.1 2.0 2.0 23 24 0.6 0.6 0.8 0.8 0.5 0.5 0.5 0.5 0.6 0.6 1.2 1.2 0.5 0.5 0.3 0.3 0.3 0.3 0.1 0.1 0.5 0.5 25 26 1.2 0.7 3.3 5.5 2.2 4.0 -0.9 1.8 3.8 1.9 10.6 27 -0.2 0.7 -0.6 0.0 0.8 0.5 0.0 0.1 -1.1 0.0 0.0 0.0 1.3 0.4 0.0 0.0 -0.7 -0.1 0.1 0.0 2.0 1.8 0.1 0.0 -0.6 0.0 -0.0 0.0 3.0 2.7 0.2 0.1 0.0 -0.0 -0.0 0.0 0.8 1.3 0.1 0.0 -0.1 0.4 -0.3 0.0 1.7 2.6 0.1 -0.3 -1.5 -0.3 0.3 0.0 -0.2 0.7 0.1 0.0 0.3 -0.1 0.2 0.0 0.0 0.9 0.1 0.4 1.2 0.1 -0.1 0.0 1.5 0.9 0.1 0.0 -1.3 -0.1 -0.1 0.0 1.3 1.8 0.2 -0.1 9.1 -0.3 0.3 0.0 0.5 1.2 0.1 -0.4 28 29 30 31 32 33 34 35 Federal government equity in IBRD, etc.: 23 24 Liab.: Rest of the world Asset: Federal government Federal Reserve Bank stock: 25 26 Liab.: Monetary authority Asset: Commercial banking Equity in govt.-sponsored enterprises: 27 Liab.: Government-sponsored enterprises 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) BHC investment in subsidiaries: 36 37 38 39 40 Liab.: Commercial banking Savings institutions Finance companies Mortgage companies Brokers and dealers 28.6 0.2 4.6 4.1 -8.6 40.7 0.3 2.2 -4.6 27.0 55.3 0.4 -1.4 1.6 43.5 2.9 0.5 31.0 0.2 -14.6 53.6 0.7 11.3 0.1 50.2 80.8 0.6 42.6 -3.0 92.6 35.9 0.6 -16.6 2.7 15.5 54.9 0.7 14.9 -0.3 40.7 42.7 0.7 4.4 1.0 52.2 65.5 0.7 -16.1 0.7 70.0 103.8 0.8 14.9 0.6 3.0 36 37 38 39 40 41 Asset: Bank holding companies 28.9 65.7 99.4 20.1 115.9 213.6 38.2 110.9 101.0 120.9 123.0 41 4.6 4.6 2.2 2.2 -1.4 -1.4 31.0 31.0 11.3 11.3 42.6 42.6 -16.6 -16.6 14.9 14.9 4.4 4.4 -16.1 -16.1 14.9 14.9 42 43 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 13.7 51.5 14.3 43.0 11.8 48.9 2.5 71.9 45.6 8.3 86.1 -7.8 -0.1 32.2 21.5 -3.9 75.0 12.9 14.6 45.3 -20.2 -17.1 44 45 46 Asset: Funding corporations 65.2 57.3 60.7 74.4 54.0 78.3 32.1 17.6 87.8 59.9 -37.3 46 (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. 55 Z.1, September 18, 2001 F.231 Identified Miscellaneous Financial Claims - Part II Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1997 1998 1999 2000 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 Nonofficial foreign currencies: 1 2 Liab.: Rest of the world Asset: Federal government -0.1 -0.1 -0.0 -0.0 -0.1 -0.1 0.6 0.6 0.0 0.0 -1.2 -1.2 0.2 0.2 0.4 0.4 0.6 0.6 -0.4 -0.4 0.0 0.0 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 -1.2 -1.2 0.0 0.0 6.8 6.8 -7.8 -7.8 -0.0 -0.0 -8.1 -8.1 -8.7 -8.7 2.8 2.8 13.8 13.8 51.5 51.5 -14.9 -14.9 5 6 0.8 0.8 0.3 0.3 -1.4 -1.4 2.1 2.1 0.1 0.1 -2.9 -2.9 0.8 0.8 -0.6 -0.6 3.2 3.2 -3.3 -3.3 0.2 0.2 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: 9 10 11 Liab.: Life insurance companies Health Policy dividend accumulation 7.0 6.2 0.8 8.3 6.3 2.0 7.9 7.3 0.7 11.4 10.2 1.2 5.0 3.9 1.1 3.9 3.8 0.0 10.3 8.4 1.8 5.3 2.2 3.0 0.6 1.2 -0.6 -0.3 -2.4 2.1 -1.1 0.0 -1.1 9 10 11 12 Asset: Household sector 7.0 8.3 7.9 11.4 5.0 3.9 10.3 5.3 0.6 -0.3 -1.1 12 Policy payables: 13 Liab.: Other insurance companies 6.6 4.8 4.3 2.5 -0.8 3.8 14.3 7.4 -28.8 8.3 9.6 13 14 15 16 17 Asset: Household sector Nonfinancial corporate business Nonfarm noncorporate business Farm business 2.7 2.6 0.6 0.6 2.0 1.9 0.5 0.4 1.8 1.7 0.4 0.4 1.1 1.0 0.2 0.2 -0.3 -0.3 -0.1 -0.1 1.6 1.5 0.4 0.3 6.0 5.7 1.4 1.3 3.1 2.9 0.7 0.7 -12.1 -11.4 -2.7 -2.6 3.5 3.3 0.8 0.8 4.0 3.8 0.9 0.9 14 15 16 17 14.4 14.4 -1.0 -1.0 21.4 21.4 13.4 13.4 9.1 9.1 9.4 9.4 7.2 7.2 14.8 14.8 4.9 4.9 3.2 3.2 16.3 16.3 18 19 4.1 4.1 7.1 7.1 1.9 1.9 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 20 21 59.9 59.9 57.2 57.2 70.0 70.0 16.3 16.3 86.2 86.2 106.4 106.4 85.5 85.5 9.9 9.9 143.1 143.1 -71.7 -71.7 212.9 212.9 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 56 Z.1, September 18, 2001 F.232 Unidentified Miscellaneous Financial Claims Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1 Net change in liabilities 2 3 Nonfinancial corporate business Nonfarm noncorporate business 4 5 6 Federal government Rest of the world Monetary authority 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 152.8 75.3 406.8 109.2 266.1 246.5 429.3 625.4 -236.7 40.3 183.4 1 149.1 29.4 -85.9 56.0 284.5 74.2 4.8 49.9 148.4 46.0 258.7 46.0 61.7 46.0 59.8 41.0 213.3 51.0 87.2 35.0 -72.7 35.5 2 3 -3.3 41.1 -0.7 0.3 28.6 1.3 -7.1 29.5 0.8 -2.9 53.6 -1.8 2.0 24.8 0.6 -7.6 98.5 -14.8 5.4 -64.0 -0.0 7.9 142.8 12.0 2.3 -78.0 5.0 0.6 17.7 -21.8 4.1 -61.8 -5.2 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 -22.1 -13.0 -26.9 17.3 0.6 108.4 30.5 34.2 39.0 4.7 48.4 -2.4 -11.5 56.0 6.3 -92.7 -20.0 -64.1 -10.8 2.2 75.9 71.4 -39.4 43.1 0.7 -131.3 42.6 -167.8 -8.9 2.8 247.5 107.0 127.3 10.9 2.3 213.6 89.3 6.0 111.8 6.5 -26.3 46.8 -123.0 58.7 -8.8 -144.1 -179.5 -52.6 88.9 -1.0 103.8 -117.2 92.1 133.2 -4.3 7 8 9 10 11 12 13 14 15 Savings institutions Credit unions Life insurance companies Government-sponsored enterprises -2.7 0.0 6.1 0.3 -2.4 0.1 21.8 7.1 -2.1 0.5 10.8 10.1 -15.0 0.9 -0.3 -3.7 16.5 -0.4 -14.5 5.2 -44.1 -1.5 20.6 22.0 -10.2 3.3 -6.1 -6.2 36.1 4.3 -12.5 -12.3 84.1 -7.8 -60.0 17.4 -10.3 -19.4 43.1 28.8 13.5 4.8 3.3 0.0 12 13 14 15 16 17 18 19 Finance companies REITs Brokers and dealers Funding corporations -11.3 2.5 -15.8 -20.0 -23.8 8.8 -48.7 3.6 18.0 13.6 -49.4 -25.0 -0.8 4.4 -53.5 166.4 41.9 1.8 -65.9 -16.1 70.9 -0.6 32.8 -103.1 6.3 6.0 28.6 111.0 163.2 4.5 -39.6 4.6 -72.9 -2.6 -285.3 -76.8 35.3 18.9 -34.7 3.9 43.5 -21.1 391.8 -256.2 16 17 18 19 277.3 201.7 544.6 482.8 628.6 664.2 782.0 901.0 167.0 47.8 474.5 20 181.2 35.2 -8.1 -48.7 55.9 -1.2 321.0 75.9 -9.7 261.4 62.4 7.7 267.2 51.7 12.3 400.9 53.7 18.7 354.7 53.2 -10.9 204.5 55.7 30.8 108.5 44.2 10.7 136.4 46.4 23.6 49.6 45.7 39.8 21 22 23 -8.4 57.0 2.4 -7.0 102.4 1.3 -5.0 25.6 4.9 -3.0 105.4 -1.3 -2.9 179.0 1.1 -6.8 383.5 -2.8 -1.8 43.9 -1.0 -1.3 264.3 4.5 -1.9 24.2 3.6 -2.2 217.0 -4.9 -1.1 -264.1 2.8 24 25 26 -7.9 1.3 -21.2 11.3 0.8 32.7 0.5 37.0 -6.7 1.8 20.1 4.5 0.4 12.1 3.1 11.0 4.5 -21.3 28.9 -1.0 -21.7 -4.0 -36.5 20.9 -2.1 -267.9 -44.2 -199.2 -23.2 -1.4 144.4 23.9 90.0 28.8 1.6 60.7 25.1 -12.7 46.6 1.7 -24.0 -20.9 -24.1 31.4 -10.5 -256.2 -47.7 -205.2 -5.2 1.9 178.1 -17.4 178.2 14.5 2.9 27 28 29 30 31 -1.1 -0.2 3.9 -3.6 3.8 -1.4 5.1 6.7 8.4 2.5 -16.5 -2.5 6.2 15.3 -1.5 2.4 -2.5 -2.1 22.6 6.2 -2.8 6.6 17.5 -0.2 -6.8 40.0 -0.9 18.0 23.8 -1.1 14.5 4.8 -0.7 32 33 34 -33.1 17.4 8.2 -8.8 7.4 0.7 4.1 8.7 3.3 -39.4 4.5 16.3 18.7 6.2 8.8 14.8 4.9 -5.0 14.9 9.3 13.3 40.7 6.7 10.6 4.3 4.1 16.3 -72.4 1.8 15.4 -33.8 4.6 5.4 35 36 37 20 Net change in assets 21 22 23 Nonfinancial corporate business Nonfarm noncorporate business State and local governments 24 25 26 Federal government Rest of the world Monetary authority 27 28 29 30 31 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies Banks in U.S.-affiliated areas 32 33 34 Savings institutions Credit unions Bank personal trusts and estates 35 36 37 Life insurance companies Private pension funds State and local govt. retirement funds 38 39 40 Money market mutual funds Mutual funds Government-sponsored enterprises 4.4 -1.7 6.8 14.3 7.1 7.1 9.6 -3.9 0.7 22.6 -4.3 5.0 12.2 -0.5 19.2 -17.1 -6.6 -37.9 222.3 -0.0 25.3 -61.4 2.9 39.6 -95.2 1.8 49.6 36.7 -5.6 -56.3 175.1 -0.2 0.4 38 39 40 41 42 43 Finance companies REITs Brokers and dealers 14.6 -1.7 8.4 9.9 4.9 24.9 15.6 10.7 42.6 43.0 -0.1 8.3 14.2 0.0 43.3 -34.2 1.7 166.6 -11.9 -3.2 -96.5 101.9 5.1 111.8 1.0 -3.6 -8.9 -19.8 2.8 -55.5 13.6 3.9 236.1 41 42 43 -124.5 -126.4 -137.7 -373.6 -362.4 -417.8 -352.7 -275.6 -403.7 -7.4 -291.1 44 44 Discrepancy 57 Z.1, September 18, 2001 F.11 Sector Discrepancies Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 -108.8 -11.6 -82.7 -186.2 -48.4 497.8 -291.0 -154.2 -246.1 165.5 -131.2 1 2 3 Household sector Nonfinancial corporate business -28.9 -16.6 59.6 82.1 23.4 -80.3 40.6 -97.5 6.0 -84.8 145.8 -95.6 -53.4 -97.5 -57.9 -71.9 -10.6 -74.1 -228.0 -36.7 -140.7 -32.7 2 3 4 5 6 State and local governments Federal government Rest of the world -9.4 56.0 -62.2 39.1 15.2 -149.4 -50.9 22.6 53.5 -27.9 -2.2 -63.0 -28.6 -4.8 -14.2 -35.6 149.7 163.7 -47.1 -124.6 -209.7 -20.5 29.6 -7.5 -11.1 -74.1 -3.2 15.7 240.2 96.5 13.8 -25.1 -84.2 4 5 6 7 Financial sectors -47.8 -58.3 -51.0 -36.2 78.1 169.8 241.3 -26.0 -73.0 77.9 137.6 7 Monetary authority Commercial banking 0.8 -6.9 1.7 42.4 -3.1 25.3 -0.7 -40.8 3.8 62.6 -2.2 130.6 19.8 176.8 5.0 -31.7 -7.5 -25.4 4.9 134.5 1.0 177.4 8 9 10 11 12 Savings institutions Credit unions Bank personal trusts and estates -3.6 1.4 2.1 -1.9 -0.2 -5.3 -3.0 -0.1 -0.2 2.6 1.4 1.7 4.4 -0.3 0.9 3.1 -0.7 1.1 5.3 1.6 1.2 1.9 -0.9 0.8 7.2 -1.1 0.7 1.6 -0.8 0.5 4.8 1.2 0.3 10 11 12 13 14 Life insurance companies Other insurance companies -41.9 -11.8 -45.0 -46.7 -33.6 -21.0 -27.9 11.5 -25.8 -13.5 -41.0 -27.5 -12.5 28.3 -31.4 4.4 -18.5 -59.2 -70.7 -5.4 -50.5 -22.9 13 14 15 16 Mutual funds Government-sponsored enterprises 5.6 0.5 8.0 -3.0 -8.4 -4.1 6.9 -3.0 1.7 -6.0 7.6 -2.6 0.5 -4.9 0.2 -6.9 -1.6 -9.4 -2.8 -5.9 -2.2 -10.7 15 16 17 18 19 20 Issuers of asset-backed securities Finance companies REITs Brokers and dealers 0.0 4.5 6.6 -5.0 0.0 -11.1 9.5 -6.8 -0.0 -6.2 11.9 -8.6 -0.0 3.0 17.4 -8.5 0.0 42.4 16.6 -8.7 -0.0 91.3 19.4 -9.3 -0.0 16.7 17.3 -8.7 0.0 29.2 11.6 -8.2 0.0 32.3 18.0 -8.5 0.0 14.8 17.7 -10.5 -0.0 37.4 10.7 -8.9 17 18 19 20 8 9 All sectors 1997 F.12 Instrument Discrepancies Billions of dollars; quarterly figures are seasonally adjusted annual rates 1 -108.8 -11.6 -82.7 -186.2 -48.4 497.8 -291.0 -154.2 -246.1 165.5 -131.2 1 2 3 Treasury currency Foreign deposits -0.4 59.6 -0.2 106.2 -0.1 -8.5 -0.7 45.8 -1.2 68.7 -1.8 262.7 -0.7 -81.9 0.9 -99.2 -3.3 193.3 -3.6 178.2 -0.3 -108.3 2 3 4 5 Net interbank transactions Security RPs -3.3 2.4 -19.9 63.2 3.4 60.6 3.5 30.0 17.4 110.9 25.3 566.4 5.4 52.0 -12.1 127.4 51.1 -302.3 16.7 -141.4 12.9 121.2 4 5 6 7 Mail floats: Federal government Other 0.5 -4.0 -2.7 -3.9 2.6 -3.1 -7.4 -0.8 9.0 1.7 18.7 1.0 16.3 1.4 3.0 1.9 -2.1 2.4 -29.8 3.8 13.8 3.9 6 7 8 9 Trade credit Taxes payable -25.4 23.1 -29.2 28.0 -51.3 19.7 42.9 6.5 -36.8 14.1 -72.1 9.4 -50.0 10.0 -49.4 -7.5 24.1 44.5 26.7 1.7 -5.0 -26.9 8 9 10 Miscellaneous -124.5 -126.4 -137.7 -373.6 -362.4 -417.8 -352.7 -275.6 -403.7 -7.4 -291.1 10 11 Nonfinancial -36.6 -26.8 31.8 67.5 130.4 106.1 109.3 156.3 150.0 120.7 148.6 11 33.0 3.6 29.7 -2.9 -31.1 -0.7 -72.8 5.2 -130.4 0.0 -106.1 0.0 -109.2 0.0 -156.3 0.0 -149.9 0.0 -120.7 0.0 -148.7 0.0 12 13 12 13 All types Nonfinancial components (sign reversed): Statistical discrepancy (NIPA) Private wage accruals less disbursements 58 Z.1, September 18, 2001 L.1 Credit Market Debt Outstanding (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 2 Total credit market debt owed by: Domestic nonfinancial sectors 1996 1997 1998 1999 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 18439.9 19807.2 21296.7 23437.6 25675.5 26070.3 26479.6 26906.6 27481.9 27931.7 28309.5 1 13707.5 14440.6 15243.5 16267.0 17399.6 17629.0 17807.7 18008.0 18287.7 18529.3 18716.5 2 3 Federal government 3636.7 3781.8 3804.9 3752.2 3681.0 3653.5 3464.0 3410.2 3385.2 3408.8 3261.4 3 4 Nonfederal sectors 10070.7 10658.8 11438.6 12514.8 13718.5 13975.5 14343.8 14597.8 14902.6 15120.5 15455.1 4 4913.8 2879.9 1062.0 144.8 1070.2 5218.6 3097.3 1129.8 149.7 1063.4 5540.9 3396.9 1225.5 155.9 1119.5 5995.1 3791.6 1364.4 163.9 1199.8 6501.7 4275.2 1520.1 169.4 1252.1 6566.0 4427.2 1554.3 170.7 1257.3 6727.4 4574.2 1600.3 176.2 1265.7 6890.5 4634.8 1631.5 177.9 1263.1 7063.8 4712.7 1666.1 180.7 1279.3 7133.7 4803.3 1696.7 180.2 1306.5 7307.6 4897.5 1727.9 184.8 1337.3 5 6 7 8 9 5 6 7 8 9 Household sector Nonfinancial corporate business Nonfarm noncorporate business Farm business State and local governments 10 Rest of the world 453.7 542.2 608.0 651.5 679.6 707.1 716.4 749.9 775.8 776.5 776.3 10 11 Financial sectors 4278.8 4824.5 5445.2 6519.1 7596.3 7734.2 7955.4 8148.7 8418.4 8626.0 8816.7 11 12 13 14 15 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies 250.6 92.2 10.4 148.0 263.6 103.9 9.6 150.0 309.2 133.4 7.2 168.6 382.1 186.2 2.4 193.5 449.3 228.0 2.0 219.3 463.6 240.3 2.0 221.4 494.7 263.4 2.0 229.3 502.0 263.2 1.9 236.9 509.3 264.8 2.0 242.5 540.3 271.9 1.8 266.5 543.8 273.4 1.4 269.1 12 13 14 15 16 17 Savings institutions Credit unions 115.0 0.4 140.5 0.4 160.3 0.6 212.4 1.1 260.4 3.4 266.9 2.6 280.7 2.9 276.0 3.1 287.7 3.4 295.1 3.2 294.5 3.5 16 17 18 19 20 21 Life insurance companies Government-sponsored enterprises Federally related mortgage pools ABS issuers 0.5 806.5 1570.3 712.5 1.6 896.9 1711.3 863.3 1.8 995.3 1825.8 1076.6 2.5 1273.6 2018.4 1398.0 3.2 1591.7 2292.2 1621.4 3.0 1618.0 2322.1 1655.8 2.7 1680.2 2355.2 1697.0 2.7 1749.7 2414.3 1742.3 2.5 1825.8 2491.6 1829.6 1.9 1891.4 2534.2 1892.2 1.9 1957.6 2635.8 1940.8 18 19 20 21 22 23 24 25 26 Finance companies Mortgage companies REITs Brokers and dealers Funding corporations 483.9 16.5 44.6 29.3 248.6 529.8 20.6 56.5 27.3 312.7 554.5 16.0 96.1 35.3 373.7 597.5 17.7 158.8 42.5 414.4 659.9 17.8 165.1 25.3 506.6 670.7 17.1 167.9 36.4 510.1 712.7 17.8 170.4 36.2 505.1 716.5 17.7 169.8 42.6 511.9 734.6 17.9 167.8 40.9 507.3 721.4 18.1 166.2 35.0 526.9 727.1 18.2 166.8 43.9 482.9 22 23 24 25 26 18439.9 19807.2 21296.7 23437.6 25675.5 26070.3 26479.6 26906.6 27481.9 27931.7 28309.5 27 2892.3 3007.3 2933.8 2991.8 3251.2 3170.5 3184.6 3125.5 3093.8 3009.6 2975.0 28 1927.8 280.4 45.5 638.6 2082.5 270.2 49.7 604.8 2018.6 257.5 52.7 605.0 1941.8 241.5 69.1 739.4 2151.6 238.7 78.0 782.8 2079.2 230.8 77.5 782.9 2065.0 246.2 77.6 795.8 2021.3 238.9 76.6 788.7 1977.3 248.5 75.9 792.0 1907.4 235.1 74.7 792.4 1887.4 225.1 73.4 789.1 29 30 31 32 207.2 1531.1 200.2 1926.6 205.4 2257.3 219.1 2539.8 258.0 2676.2 259.6 2760.7 261.6 2809.9 262.7 2861.7 265.4 3004.6 266.6 3112.9 268.9 3198.9 33 34 13809.3 14673.2 15900.1 17686.8 19490.2 19879.5 20223.5 20656.7 21118.1 21542.6 21866.6 35 380.8 393.1 431.4 452.5 478.1 501.9 505.1 511.5 511.8 523.9 535.1 36 3520.1 3056.1 412.6 18.0 33.4 3707.7 3175.8 475.8 22.0 34.1 4031.9 3450.7 516.1 27.4 37.8 4335.7 3761.2 504.2 26.5 43.8 4643.9 4078.9 484.1 32.7 48.3 4725.0 4171.3 482.0 22.1 49.6 4847.4 4295.4 478.1 23.0 51.0 4931.0 4368.2 487.5 21.3 54.0 5002.3 4418.7 508.1 20.5 55.0 5015.7 4424.4 515.0 22.3 54.1 5050.6 4463.2 510.7 21.6 55.1 37 38 39 40 41 913.3 263.0 239.7 933.2 288.5 232.0 928.5 305.3 207.0 964.6 324.2 194.1 1033.2 351.7 222.0 1045.8 359.0 226.7 1062.5 370.1 230.2 1082.2 376.0 234.6 1089.7 382.2 239.1 1101.6 381.7 241.8 1116.1 391.2 245.1 42 43 44 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 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 1587.5 468.7 631.2 529.6 1657.0 491.2 627.0 565.4 1751.1 515.3 674.6 632.5 1828.0 521.1 731.0 704.6 1886.0 518.2 775.9 751.4 1902.2 515.4 787.6 767.2 1914.1 510.8 793.8 775.1 1935.1 512.4 810.0 784.5 1943.9 509.4 817.2 801.0 1967.2 510.0 823.7 804.3 1991.0 510.7 828.8 808.8 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 545.5 771.3 96.2 761.7 1570.3 653.4 634.3 820.2 100.8 832.8 1711.3 773.9 721.9 901.1 98.3 939.4 1825.8 937.7 965.9 1025.9 103.7 1253.9 2018.4 1219.4 1147.8 1073.1 111.1 1545.6 2292.2 1424.6 1217.1 1053.7 109.0 1584.0 2322.1 1453.8 1159.4 1073.9 106.9 1649.2 2355.2 1486.3 1212.5 1088.5 104.8 1704.3 2414.3 1522.9 1296.7 1099.9 102.7 1793.7 2491.6 1602.9 1403.8 1113.8 100.6 1866.5 2534.2 1660.5 1414.6 1151.5 98.5 1944.5 2635.8 1706.0 49 50 51 52 53 54 55 56 57 58 59 Finance companies Mortgage companies REITs Brokers and dealers Funding corporations 526.2 33.0 26.0 183.4 108.4 544.5 41.2 30.4 167.7 121.0 566.4 32.1 50.6 182.6 166.7 618.4 35.3 45.5 189.4 155.3 713.3 35.6 42.9 154.7 288.8 747.0 34.1 38.8 194.6 294.5 780.6 35.5 38.2 187.9 341.3 795.5 35.4 37.3 243.3 320.7 812.6 35.9 36.6 223.6 325.4 809.4 36.2 37.6 317.7 292.3 829.6 36.5 37.9 288.4 246.0 55 56 57 58 59 (1) Excludes corporate equities and mutual fund shares. 59 Z.1, September 18, 2001 L.2 Credit Market Debt Owed by Nonfinancial Sectors Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Domestic Federal government Treasury securities Budget agency secur. and mortgages Nonfederal, by instrument Commercial paper Municipal securities and loans Corporate bonds Bank loans n.e.c. Other loans and advances Mortgages Home Multifamily residential Commercial Farm Consumer credit Nonfederal, by sector Household sector Nonfinancial business Corporate Nonfarm noncorporate Farm State and local governments 1996 1997 1998 1999 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 13707.5 14440.6 15243.5 16267.0 17399.6 17629.0 17807.7 18008.0 18287.7 18529.3 18716.5 1 3636.7 3608.5 28.2 3781.8 3755.1 26.6 3804.9 3778.3 26.5 3752.2 3723.7 28.5 3681.0 3652.8 28.3 3653.5 3625.8 27.8 3464.0 3435.7 28.2 3410.2 3382.6 27.6 3385.2 3357.8 27.3 3408.8 3382.1 26.8 3261.4 3234.4 27.0 2 3 4 10070.7 157.4 1293.5 1344.1 863.6 736.9 10658.8 156.4 1296.0 1460.4 934.1 770.4 11438.6 168.6 1367.5 1610.9 1040.5 839.5 12514.8 193.0 1464.3 1829.6 1148.8 913.8 13718.5 230.3 1532.5 2059.5 1231.5 974.6 13975.5 260.8 1539.2 2106.0 1259.1 1020.1 14343.8 296.8 1551.6 2144.5 1306.4 1049.5 14597.8 307.0 1550.3 2190.6 1311.6 1052.2 14902.6 278.4 1567.8 2234.5 1334.6 1089.9 15120.5 253.2 1596.6 2335.4 1324.0 1096.0 15455.1 223.3 1629.3 2441.3 1295.3 1119.5 5 6 7 8 9 10 4552.5 3507.9 265.1 695.3 84.2 1122.8 4830.0 3717.1 278.2 747.8 86.9 1211.6 5147.6 3969.7 285.8 802.0 90.0 1264.1 5633.7 4353.9 309.7 873.5 96.6 1331.7 6264.0 4783.5 352.6 1025.6 102.3 1426.2 6374.3 4858.0 360.3 1051.7 104.2 1416.0 6541.0 4982.3 372.6 1079.4 106.8 1454.0 6690.9 5100.0 379.9 1102.7 108.3 1495.3 6831.0 5200.7 390.3 1130.6 109.3 1566.5 6956.7 5293.5 400.4 1152.3 110.4 1558.6 7165.3 5449.7 414.5 1188.3 112.7 1581.1 11 12 13 14 15 16 10070.7 4913.8 4086.7 2879.9 1062.0 144.8 1070.2 10658.8 5218.6 4376.8 3097.3 1129.8 149.7 1063.4 11438.6 5540.9 4778.2 3396.9 1225.5 155.9 1119.5 12514.8 5995.1 5319.9 3791.6 1364.4 163.9 1199.8 13718.5 6501.7 5964.7 4275.2 1520.1 169.4 1252.1 13975.5 6566.0 6152.2 4427.2 1554.3 170.7 1257.3 14343.8 6727.4 6350.7 4574.2 1600.3 176.2 1265.7 14597.8 6890.5 6444.3 4634.8 1631.5 177.9 1263.1 14902.6 7063.8 6559.4 4712.7 1666.1 180.7 1279.3 15120.5 7133.7 6680.2 4803.3 1696.7 180.2 1306.5 15455.1 7307.6 6810.2 4897.5 1727.9 184.8 1337.3 17 18 19 20 21 22 23 24 Foreign credit market debt held in U.S. 453.7 542.2 608.0 651.5 679.6 707.1 716.4 749.9 775.8 776.5 776.3 24 25 26 27 28 Commercial paper Bonds Bank loans n.e.c. Other loans and advances 56.2 299.4 34.6 63.6 67.5 366.3 43.7 64.7 65.1 427.7 52.1 63.0 72.9 462.6 58.9 57.2 89.2 479.4 59.4 51.7 101.6 490.6 63.3 51.7 101.2 498.4 64.7 52.1 109.8 521.3 67.7 51.2 120.9 533.7 70.7 50.5 112.8 542.0 73.9 47.7 110.1 551.0 67.2 47.9 25 26 27 28 14161.1 14982.7 15851.5 16918.5 18079.2 18336.1 18524.2 18757.9 19063.5 19305.8 19492.8 29 29 Domestic and foreign L.3 Credit Market Debt Owed by Financial Sectors Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 2 3 4 5 6 7 8 9 10 11 12 By instrument 4278.8 4824.5 5445.2 6519.1 7596.3 7734.2 7955.4 8148.7 8418.4 8626.0 8816.7 1 Federal government-related Govt.-sponsored enterprise securities Mortgage pool securities U.S. government loans 2376.8 806.5 1570.3 0.0 2608.2 896.9 1711.3 0.0 2821.1 995.3 1825.8 0.0 3292.0 1273.6 2018.4 0.0 3884.0 1591.7 2292.2 0.0 3940.1 1618.0 2322.1 0.0 4035.3 1680.2 2355.2 0.0 4164.0 1749.7 2414.3 0.0 4317.4 1825.8 2491.6 0.0 4425.6 1891.4 2534.2 0.0 4593.4 1957.6 2635.8 0.0 2 3 4 5 Private financial sectors Open market paper Corporate bonds Bank loans n.e.c. Other loans and advances Mortgages 1901.9 486.9 1204.7 51.4 135.0 24.1 2216.3 579.1 1378.4 64.0 162.9 31.9 2624.1 745.7 1555.9 77.2 198.5 46.8 3227.0 906.7 1852.8 107.2 288.7 71.6 3712.4 1082.9 2064.0 92.9 395.8 76.7 3794.2 1115.7 2104.2 91.4 404.4 78.5 3920.1 1135.2 2173.5 93.6 436.9 81.0 3984.6 1151.6 2228.0 92.5 430.2 82.5 4101.0 1210.7 2276.5 92.6 438.3 82.9 4200.4 1180.8 2390.5 97.1 450.9 81.1 4223.3 1144.5 2442.7 100.3 450.7 85.1 6 7 8 9 10 11 4278.8 4824.5 5445.2 6519.1 7596.3 7734.2 7955.4 8148.7 8418.4 8626.0 8816.7 12 102.6 148.0 115.0 0.4 113.6 150.0 140.5 0.4 140.6 168.6 160.3 0.6 188.6 193.5 212.4 1.1 230.0 219.3 260.4 3.4 242.2 221.4 266.9 2.6 265.4 229.3 280.7 2.9 265.2 236.9 276.0 3.1 266.7 242.5 287.7 3.4 273.8 266.5 295.1 3.2 274.7 269.1 294.5 3.5 13 14 15 16 0.5 806.5 1570.3 712.5 1.6 896.9 1711.3 863.3 1.8 995.3 1825.8 1076.6 2.5 1273.6 2018.4 1398.0 3.2 1591.7 2292.2 1621.4 3.0 1618.0 2322.1 1655.8 2.7 1680.2 2355.2 1697.0 2.7 1749.7 2414.3 1742.3 2.5 1825.8 2491.6 1829.6 1.9 1891.4 2534.2 1892.2 1.9 1957.6 2635.8 1940.8 17 18 19 20 29.3 483.9 16.5 44.6 248.6 27.3 529.8 20.6 56.5 312.7 35.3 554.5 16.0 96.1 373.7 42.5 597.5 17.7 158.8 414.4 25.3 659.9 17.8 165.1 506.6 36.4 670.7 17.1 167.9 510.1 36.2 712.7 17.8 170.4 505.1 42.6 716.5 17.7 169.8 511.9 40.9 734.6 17.9 167.8 507.3 35.0 721.4 18.1 166.2 526.9 43.9 727.1 18.2 166.8 482.9 21 22 23 24 25 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 60 Z.1, September 18, 2001 L.4 Credit Market Debt, All Sectors, by Instrument Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 1997 1998 1999 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 18439.9 19807.2 21296.7 23437.6 25675.5 26070.3 26479.6 26906.6 27481.9 27931.7 28309.5 1 2 3 4 5 Open market paper U.S. government securities Municipal securities Corporate and foreign bonds 700.4 6013.6 1293.5 2848.1 803.0 6389.9 1296.0 3205.1 979.4 6626.0 1367.5 3594.5 1172.6 7044.3 1464.3 4144.9 1402.4 7565.0 1532.5 4602.8 1478.1 7593.6 1539.2 4700.8 1533.3 7499.3 1551.6 4816.3 1568.3 7574.2 1550.3 4939.8 1610.0 7702.6 1567.8 5044.6 1546.8 7834.4 1596.6 5267.9 1477.9 7854.8 1629.3 5435.1 2 3 4 5 6 7 8 9 Bank loans n.e.c. Other loans and advances Mortgages Consumer credit 949.6 935.4 4576.6 1122.8 1041.7 998.0 4861.9 1211.6 1169.8 1101.0 5194.4 1264.1 1314.9 1259.6 5705.3 1331.7 1383.8 1422.1 6340.7 1426.2 1413.7 1476.2 6452.7 1416.0 1464.6 1538.5 6622.0 1454.0 1471.7 1533.6 6773.4 1495.3 1497.9 1578.6 6913.9 1566.5 1495.1 1594.6 7037.8 1558.6 1462.9 1618.1 7250.4 1581.1 6 7 8 9 8495.7 1852.8 10255.8 2342.4 13202.0 2989.4 15492.5 3610.5 19494.5 4553.4 20147.0 4863.3 19180.8 4759.6 18991.5 4814.4 17068.8 4457.2 14920.9 3999.8 15863.6 4269.9 10 11 10 11 Total 1996 Memo: Selected claims not included above: Corporate equities Mutual fund shares L.5 Total Liabilities and Its Relation to Total Financial Assets Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total credit market debt (from table L.4) 18439.9 19807.2 21296.7 23437.6 25675.5 26070.3 26479.6 26906.6 27481.9 27931.7 28309.5 1 2 3 4 5 6 Official foreign exchange SDR certificates Treasury currency Foreign deposits Net interbank liabilities 63.7 10.2 18.3 418.8 290.7 53.7 9.7 18.9 521.7 240.8 48.9 9.2 19.3 618.5 219.4 60.1 9.2 19.9 642.3 189.0 50.1 6.2 20.9 703.6 204.5 49.4 6.2 21.4 781.9 169.7 46.5 4.2 22.1 782.8 210.6 44.9 3.2 23.2 772.6 173.2 46.0 2.2 23.2 824.5 188.0 43.3 2.2 22.9 883.4 116.0 41.7 2.2 23.2 846.8 163.4 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 1229.1 2279.7 476.9 741.3 660.0 1244.8 2377.0 590.9 886.7 701.5 1286.1 2474.1 713.4 1042.5 822.4 1333.4 2626.5 805.5 1329.7 913.7 1484.8 2671.2 936.1 1578.8 1083.4 1392.9 2728.0 966.5 1666.0 1149.2 1409.7 2738.8 987.4 1627.1 1185.0 1385.7 2790.9 1025.9 1697.8 1238.7 1413.3 2861.9 1054.5 1812.1 1194.3 1385.2 2965.3 1078.0 1994.7 1206.0 1416.8 2992.0 1090.6 2014.8 1241.1 7 8 9 10 11 12 13 14 15 Mutual fund shares Security credit Life insurance reserves Pension fund reserves 1852.8 305.7 566.2 5671.3 2342.4 358.1 610.6 6325.1 2989.4 469.1 665.0 7323.4 3610.5 572.3 718.3 8193.7 4553.4 676.6 783.9 9041.7 4863.3 795.4 801.0 9237.9 4759.6 775.5 806.5 9166.7 4814.4 800.4 818.7 9307.9 4457.2 817.6 819.1 9054.8 3999.8 799.4 823.0 8603.5 4269.9 781.8 844.6 8885.5 12 13 14 15 16 17 18 19 Trade payables Taxes payable Investment in bank personal trusts Miscellaneous 1704.3 109.3 803.0 5997.0 1827.6 128.8 871.3 6386.0 1967.3 151.1 942.5 6727.4 2076.5 172.4 1001.0 7475.3 2298.8 194.7 1130.4 8040.5 2321.7 210.1 1158.0 8258.1 2366.9 212.7 1114.4 8539.8 2412.0 214.8 1106.7 8998.1 2455.2 216.4 1019.4 8845.1 2425.2 224.2 929.1 9253.4 2418.3 219.8 964.4 9506.9 16 17 18 19 41638.1 45302.7 49785.5 55186.9 61135.1 62646.9 63236.0 64535.7 64586.8 64686.3 66033.3 20 20 Total liabilities 21 22 23 + Financial assets not included in liabilities: Gold and SDRs Corporate equities Household equity in noncorp. bus. 22.1 8495.7 3600.0 21.4 10255.8 3787.8 21.1 13202.0 4053.2 21.6 15492.5 4398.7 21.4 19494.5 4649.9 21.4 20147.0 4675.4 21.5 19180.8 4772.2 21.4 18991.5 4815.5 21.5 17068.8 4884.7 21.5 14920.9 4929.1 21.6 15863.6 4941.8 21 22 23 24 25 26 - Liabilities not identified as assets: Treasury currency Foreign deposits Net interbank transactions -5.7 360.2 -9.0 -6.1 437.0 -10.6 -6.3 537.1 -32.2 -6.4 544.9 -27.0 -7.1 591.1 -25.5 -7.6 656.7 -13.9 -7.9 636.3 -11.6 -7.6 611.5 -17.6 -8.5 659.9 -4.3 -9.4 704.4 1.7 -9.4 677.4 5.3 24 25 26 107.4 64.1 -821.1 109.8 81.9 -1241.1 172.9 104.2 -1562.1 233.5 122.9 -2307.3 263.6 122.7 -2792.5 410.3 118.6 -2948.5 422.8 135.8 -3009.7 446.0 124.4 -2818.5 374.4 128.5 -3371.8 357.6 112.7 -3314.7 387.5 129.0 -3222.6 27 28 29 27 28 29 Security RPs Taxes payable Miscellaneous 30 31 32 - Floats not included in assets: Checkable deposits: Federal govt. Other Trade credit 3.1 34.2 192.0 -1.6 30.1 165.7 -8.1 26.2 126.8 -3.9 23.1 76.6 -9.9 22.3 120.9 -6.5 18.7 50.1 -5.2 22.5 12.8 -7.8 15.5 2.5 -2.6 24.0 88.7 -21.9 21.1 42.1 -40.6 25.5 16.0 30 31 32 33 Totals identified to sectors as assets 53830.8 59802.7 67703.2 76443.0 87015.2 89212.6 89014.9 90015.7 88673.3 86664.0 88892.3 33 61 Z.1, September 18, 2001 L.10 Assets and Liabilities of the Personal Sector (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 Total financial assets 1996 1997 1998 1999 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 18646.1 20881.0 24112.8 27169.2 31580.3 32345.0 31453.6 31334.1 29677.1 27874.8 28724.1 1 2 3 4 5 Foreign deposits Checkable deposits and currency Time and savings deposits Money market fund shares 23.4 617.3 2409.0 467.2 35.5 565.8 2565.1 519.9 37.2 531.4 2734.7 605.2 38.3 557.2 2935.6 779.7 43.5 499.9 3057.4 914.2 48.6 485.7 3155.8 994.2 48.6 456.2 3217.8 957.7 48.0 444.0 3301.5 984.0 51.3 476.9 3372.8 1055.6 49.8 482.5 3469.9 1153.0 45.8 487.8 3513.1 1088.4 2 3 4 5 6 Securities 7183.8 8370.0 10093.8 11422.2 14429.7 14715.3 13913.7 13523.9 11979.0 10502.0 11022.8 6 48.0 185.0 576.0 160.2 54.7 187.0 578.7 259.4 56.1 186.5 443.1 266.2 63.7 186.6 335.8 191.2 67.7 186.4 389.5 287.2 68.9 185.3 335.0 274.0 70.2 184.6 223.2 296.7 71.4 184.3 184.1 305.7 72.7 184.8 170.5 288.4 67.2 184.8 149.5 176.6 62.7 186.0 93.9 219.6 7 8 9 10 457.6 415.3 4182.9 1158.9 435.8 486.7 4872.3 1495.4 471.9 519.1 6209.5 1941.2 489.8 602.6 7190.4 2362.0 530.1 617.8 9284.7 3066.3 532.6 607.1 9409.8 3302.7 546.5 663.5 8688.9 3240.1 546.7 646.9 8305.2 3279.5 544.8 631.7 7042.9 3043.2 554.0 688.1 5942.6 2739.3 575.3 660.1 6295.6 2929.6 11 12 13 14 536.3 880.6 2964.0 1856.6 580.1 953.9 3295.2 2106.5 632.7 1086.1 3793.6 2476.0 684.7 1209.9 4255.4 2761.9 748.9 1367.3 4728.0 2981.3 765.7 1414.2 4877.9 2981.0 770.6 1403.2 4799.4 3000.0 782.7 1424.9 4853.3 3065.7 782.7 1373.8 4644.6 3072.8 786.5 1335.8 4342.5 2961.8 807.5 1405.1 4481.1 3036.5 15 16 17 18 803.0 905.0 871.3 1017.6 942.5 1179.8 1001.0 1523.3 1130.4 1679.7 1158.0 1748.5 1114.4 1771.9 1106.7 1799.4 1019.4 1848.2 929.1 1862.0 964.4 1871.6 19 20 6672.6 7142.1 7707.8 8486.2 9327.5 9502.2 9726.5 9942.7 10135.6 10210.7 10435.8 21 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 bank personal trusts Miscellaneous and other assets 21 Total liabilities 22 23 24 Mortgage debt on nonfarm homes Other mortgage debt (3) Consumer credit 3501.1 863.2 1122.8 3709.3 892.3 1211.6 3961.7 923.8 1264.1 4344.6 1010.2 1331.7 4772.0 1112.4 1426.2 4846.0 1132.3 1416.0 4969.7 1158.9 1454.0 5086.7 1181.2 1495.3 5187.2 1201.2 1566.5 5279.2 1222.7 1558.6 5434.7 1252.0 1581.1 22 23 24 25 26 27 Policy loans Security credit Other liabilities (3) 96.9 78.6 1010.1 101.4 94.4 1133.1 104.6 131.2 1322.4 104.7 152.8 1542.3 100.0 227.9 1689.0 99.6 282.4 1725.9 100.5 267.8 1775.6 102.0 271.4 1806.0 102.8 233.7 1844.2 103.8 195.8 1850.7 104.0 195.9 1868.1 25 26 27 (1) Combined 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 15, 16, 17, and 18), and bank personal trusts (line 19). (3) Includes corporate farms. 62 Z.1, September 18, 2001 L.100 Households and Nonprofit Organizations (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 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 1996 1997 1998 1999 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 21636.2 23960.8 27317.1 30390.2 34912.8 35677.1 34842.1 34747.0 33138.5 31360.6 32203.6 1 3306.9 3451.4 3636.7 3986.3 4146.3 4308.0 4291.3 4380.4 4549.4 4735.0 4701.4 2 23.4 495.9 2337.5 450.1 35.5 425.2 2490.1 500.7 37.2 368.3 2649.0 582.3 38.3 360.0 2840.8 747.1 43.5 278.5 2952.6 871.6 48.6 258.2 3050.0 951.2 48.6 218.2 3110.1 914.4 48.0 202.0 3193.5 936.9 51.3 231.2 3264.0 1003.0 49.8 231.9 3359.9 1093.4 45.8 232.1 3401.7 1021.8 3 4 5 6 1927.8 2082.5 2018.6 1941.8 2151.6 2079.2 2065.0 2021.3 1977.3 1907.4 1887.4 7 8 9 10 11 12 13 Open market paper U.S. government securities Treasury Savings bonds Other Treasury Agency 48.0 899.7 739.5 185.0 554.5 160.2 54.7 998.4 739.1 187.0 552.1 259.4 56.1 865.0 598.8 186.5 412.3 266.2 63.7 676.7 485.5 186.6 298.9 191.2 67.7 829.2 542.0 186.4 355.6 287.2 68.9 762.9 489.0 185.3 303.7 274.0 70.2 677.0 380.3 184.6 195.7 296.7 71.4 648.2 342.5 184.3 158.2 305.7 72.7 620.0 331.6 184.8 146.9 288.4 67.2 489.9 313.3 184.8 128.6 176.6 62.7 481.3 261.7 186.0 75.8 219.6 8 9 10 11 12 13 14 15 16 Municipal securities Corporate and foreign bonds Mortgages 455.4 415.3 109.5 433.2 486.7 109.5 468.8 519.1 109.6 488.3 602.6 110.5 526.6 617.8 110.2 529.1 607.1 111.2 542.9 663.5 111.5 543.1 646.9 111.7 541.1 631.7 111.8 550.2 688.1 111.9 571.5 660.1 111.7 14 15 16 4182.9 1158.9 127.6 566.2 5671.3 803.0 3600.0 291.7 4872.3 1495.4 162.9 610.6 6325.1 871.3 3787.8 301.4 6209.5 1941.2 215.5 665.0 7323.4 942.5 4053.2 311.7 7190.4 2362.0 276.7 718.3 8193.7 1001.0 4398.7 321.4 9284.7 3066.3 323.9 783.9 9041.7 1130.4 4649.9 334.2 9409.8 3302.7 369.6 801.0 9237.9 1158.0 4675.4 335.6 8688.9 3240.1 357.2 806.5 9166.7 1114.4 4772.2 339.6 8305.2 3279.5 370.0 818.7 9307.9 1106.7 4815.5 341.7 7042.9 3043.2 408.7 819.1 9054.8 1019.4 4884.7 338.9 5942.6 2739.3 412.0 823.0 8603.5 929.1 4929.1 339.6 6295.6 2929.6 412.8 844.6 8885.5 964.4 4941.8 340.4 17 18 19 20 21 22 23 24 5111.0 5440.4 5808.7 6291.9 6881.8 7001.7 7150.3 7318.3 7455.7 7488.6 7663.9 25 4913.8 5218.6 5540.9 5995.1 6501.7 6566.0 6727.4 6890.5 7063.8 7133.7 7307.6 26 3383.0 1122.8 98.3 3574.9 1211.6 104.9 3809.5 1264.1 114.9 4155.2 1331.7 126.9 4538.9 1426.2 137.3 4604.9 1416.0 138.0 4717.7 1454.0 141.4 4824.4 1495.3 141.9 4916.2 1566.5 143.0 4997.5 1558.6 144.2 5143.2 1581.1 145.3 27 28 29 57.4 160.3 91.9 58.0 172.7 96.6 66.6 190.7 95.1 72.9 204.0 104.4 65.7 218.9 114.8 69.6 222.8 114.7 70.9 227.4 115.8 67.5 242.1 119.3 73.9 246.3 117.9 63.5 251.1 118.8 60.0 255.4 122.6 30 31 32 78.6 101.1 94.4 109.1 131.2 118.0 152.8 126.8 227.9 132.7 282.4 134.5 267.8 136.3 271.4 137.7 233.7 138.6 195.8 140.4 195.9 141.5 33 34 17.5 18.3 18.6 17.2 19.4 18.7 18.9 18.8 19.6 18.7 18.8 35 17 18 19 20 21 22 23 24 25 26 Corporate equities (2) Mutual fund shares Security credit Life insurance reserves Pension fund reserves Investment in bank personal trusts Equity in noncorporate business Miscellaneous assets Total liabilities Credit market instruments 27 28 29 Home mortgages (3) 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 (1) Sector includes farm households. Supplementary tables (tables F.100.a and L.100.a) show estimates of annual flows and year-end outstandings of nonprofit organizations. (2) 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). (3) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 24. 63 Z.1, September 18, 2001 L.101 Nonfinancial Business (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 5568.0 6162.5 6640.9 7711.4 8707.5 8952.2 9199.4 9358.9 9466.1 9521.3 9606.1 1 2 3 4 5 6 Foreign deposits Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 15.6 374.3 114.4 77.0 2.4 26.1 430.4 118.6 86.9 3.9 21.0 483.6 122.0 110.7 4.6 28.4 532.6 126.1 146.9 4.2 26.1 631.5 140.1 179.9 5.3 20.2 642.5 134.3 182.4 6.1 24.4 678.6 137.0 183.3 4.2 37.7 695.4 138.4 203.0 4.0 22.2 685.7 143.0 230.3 5.2 16.3 657.7 144.5 269.9 4.7 13.3 667.3 146.0 305.0 4.0 2 3 4 5 6 7 Credit market instruments 325.9 319.9 310.3 310.6 316.8 308.3 323.8 315.5 324.4 309.9 298.5 7 20.1 102.0 39.0 79.7 85.1 31.5 102.3 33.6 74.7 77.7 36.1 65.6 30.6 99.0 78.9 39.4 71.2 27.2 97.9 74.9 43.7 66.0 25.8 101.0 80.3 38.3 68.0 27.4 101.7 72.9 37.1 69.1 39.9 104.2 73.5 40.3 68.2 31.3 103.6 72.1 43.3 57.8 36.9 103.9 82.7 42.9 55.6 35.9 104.1 71.4 39.0 50.0 37.2 104.3 68.0 8 9 10 11 12 45.7 1325.3 3287.5 59.9 1442.9 3673.8 69.1 1571.5 3948.0 91.0 1698.5 4773.2 113.9 1857.7 5436.2 117.5 1940.6 5600.3 111.4 2010.0 5726.6 111.0 2051.3 5802.8 98.8 2001.2 5955.2 85.9 2004.3 6028.2 91.6 2019.8 6060.5 13 14 15 7571.1 8080.3 8527.9 9427.0 10365.8 10640.7 10883.9 11094.3 11241.3 11368.5 11490.1 16 8 9 10 11 12 13 14 15 16 17 Total financial assets 1996 Commercial paper U.S. government securities Municipal securities Mortgages Consumer credit Mutual fund shares Trade receivables Miscellaneous assets Total liabilities 4086.7 4376.8 4778.2 5319.9 5964.7 6152.2 6350.7 6444.3 6559.4 6680.2 6810.2 17 18 19 20 Commercial paper Municipal securities Corporate bonds 157.4 134.8 1344.1 156.4 137.9 1460.4 168.6 142.0 1610.9 193.0 147.8 1829.6 230.3 152.8 2059.5 260.8 153.3 2106.0 296.8 153.4 2144.5 307.0 153.9 2190.6 278.4 154.2 2234.5 253.2 154.7 2335.4 223.3 155.6 2441.3 18 19 20 21 22 23 Bank loans n.e.c. Other loans and advances Mortgages 806.2 566.8 1077.5 876.0 587.6 1158.5 973.9 639.8 1243.0 1075.9 699.7 1374.1 1165.8 746.0 1610.2 1189.4 788.0 1654.7 1235.5 813.1 1707.5 1244.1 801.5 1747.2 1260.7 834.9 1796.8 1260.5 836.0 1840.4 1235.3 855.1 1899.5 21 22 23 979.9 77.9 2426.6 1061.3 92.4 2549.8 1158.7 109.0 2481.9 1240.2 124.6 2742.3 1410.5 139.8 2850.8 1419.6 153.7 2915.2 1447.5 155.3 2930.3 1490.8 155.2 3004.0 1525.9 154.3 3001.7 1492.4 161.2 3034.7 1479.5 154.8 3045.5 24 25 26 24 25 26 Credit market instruments Trade payables Taxes payable Miscellaneous liabilities (1) Combined statement for nonfarm nonfinancial corporate business, nonfarm noncorporate business, and farm business. 64 Z.1, September 18, 2001 L.102 Nonfarm Nonfinancial Corporate Business Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 2 3 4 5 6 Total financial assets Foreign deposits Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 1996 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 4960.9 5460.1 5806.7 6545.4 7379.7 7593.5 7794.3 7928.3 8009.6 8035.9 8093.2 1 15.6 252.9 42.9 60.0 2.4 26.1 289.8 43.6 67.6 3.9 21.0 320.5 36.3 87.8 4.6 28.4 335.4 31.3 114.3 4.2 26.1 410.1 35.3 137.3 5.3 20.2 415.1 28.5 139.3 6.1 24.4 440.6 29.3 140.0 4.2 37.7 453.5 30.3 155.9 4.0 22.2 440.0 34.2 177.7 5.2 16.3 407.1 34.4 210.3 4.7 13.3 411.6 34.6 238.4 4.0 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 20.1 80.5 36.8 57.9 85.1 1184.9 45.7 31.5 75.6 31.0 54.4 77.7 1273.1 59.9 36.1 34.8 27.4 80.2 78.9 1366.6 69.1 39.4 34.2 25.7 67.3 74.9 1452.9 91.0 43.7 32.1 22.3 60.3 80.3 1566.3 113.9 38.3 36.7 23.9 59.0 72.9 1639.0 117.5 37.1 41.5 36.3 57.8 73.5 1688.8 111.4 40.3 42.3 27.6 56.5 72.1 1725.9 111.0 43.3 34.1 33.2 55.3 82.7 1669.0 98.8 42.9 34.7 32.2 54.0 71.4 1667.1 85.9 39.0 31.8 33.4 52.8 68.0 1679.1 91.6 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 3076.0 778.7 183.6 1.8 25.5 2086.4 3425.9 863.2 186.2 1.6 30.2 2344.8 3643.3 932.5 188.1 0.5 32.3 2489.9 4246.4 1048.4 189.8 -0.2 30.9 2977.6 4846.6 1160.4 190.8 -0.8 61.9 3434.3 4997.1 1194.5 191.1 -0.8 72.6 3539.7 5109.4 1220.3 192.5 -1.2 68.4 3629.3 5171.3 1252.3 193.3 -1.1 72.1 3654.6 5314.0 1247.2 190.4 -0.8 73.2 3803.9 5375.1 1284.2 191.3 -6.5 69.2 3836.9 5395.5 1316.5 192.2 -4.2 72.9 3818.1 14 15 16 17 18 19 20 6009.5 6378.6 6628.8 7232.6 7920.1 8140.2 8307.6 8469.8 8561.5 8646.4 8718.2 20 21 Credit market instruments 2879.9 3097.3 3396.9 3791.6 4275.2 4427.2 4574.2 4634.8 4712.7 4803.3 4897.5 21 22 23 24 25 Commercial paper Municipal securities (2) Corporate bonds (1) Bank loans n.e.c. 157.4 134.8 1344.1 601.8 156.4 137.9 1460.4 642.1 168.6 142.0 1610.9 692.7 193.0 147.8 1829.6 774.5 230.3 152.8 2059.5 847.5 260.8 153.3 2106.0 868.3 296.8 153.4 2144.5 902.5 307.0 153.9 2190.6 909.0 278.4 154.2 2234.5 921.8 253.2 154.7 2335.4 923.2 223.3 155.6 2441.3 900.4 22 23 24 25 26 27 28 29 30 31 32 33 Other loans and advances Savings institutions Finance companies Federal government Acceptance liabilities to banks Rest of the world ABS issuers Mortgages 453.7 6.4 271.4 10.0 14.2 122.1 29.6 188.3 472.2 7.9 278.5 8.7 13.4 126.0 37.7 228.4 520.6 9.4 286.7 8.4 10.8 143.3 62.1 262.1 567.9 12.1 312.8 8.3 6.6 142.3 85.9 278.9 605.5 15.3 364.6 8.0 4.4 119.5 93.6 379.6 642.8 16.7 391.1 7.9 4.9 120.8 101.5 396.0 664.7 17.7 408.7 7.7 4.9 124.8 100.9 412.4 651.3 19.0 410.2 7.6 4.6 112.4 97.6 423.0 681.3 19.7 424.0 7.6 4.3 117.3 108.4 442.6 682.0 20.7 424.5 7.6 6.6 114.9 107.6 454.9 698.2 21.9 433.3 7.3 5.8 121.0 108.9 478.6 26 27 28 29 30 31 32 33 877.5 40.3 2211.8 641.1 82.4 1488.3 927.0 49.9 2304.3 698.7 86.4 1519.2 992.1 59.2 2180.6 750.7 93.5 1336.4 1049.7 64.1 2327.2 806.4 95.4 1425.4 1194.1 71.0 2379.8 948.1 96.4 1335.3 1197.6 82.8 2432.7 963.6 96.7 1372.4 1215.6 81.5 2436.3 1035.6 96.9 1303.8 1255.1 80.2 2499.7 1104.4 97.2 1298.0 1286.2 78.0 2484.5 1116.0 97.4 1271.2 1250.3 83.9 2508.9 1161.0 97.7 1250.2 1233.2 76.7 2510.8 1182.5 97.9 1230.3 34 35 36 37 38 39 34 35 36 37 38 39 Total liabilities Trade payables Taxes payable Miscellaneous liabilities Foreign direct investment in U.S. Pension fund contributions payable Other Memo: 40 41 Trade receivables net of payables Market value of equities 307.4 6435.0 346.1 7618.6 374.5 9674.9 403.2 11521.8 372.2 15030.3 441.4 15598.4 473.2 14723.5 470.7 14200.9 382.8 12243.1 416.7 10599.0 445.9 11315.7 40 41 42 43 Securities and mortgages Loans and short-term paper 1667.1 1212.8 1826.6 1270.7 2014.9 1382.0 2256.3 1535.4 2591.9 1683.3 2655.2 1772.0 2710.2 1864.0 2767.4 1867.4 2831.2 1881.5 2944.9 1858.3 3075.5 1821.9 42 43 44 45 Total short-term liabilities (3) Total liquid assets (4) 2130.6 557.0 2247.6 629.0 2433.3 637.7 2649.1 704.0 2948.4 826.2 3052.3 825.6 3161.1 864.9 3202.7 902.5 3245.7 888.7 3192.6 868.4 3131.9 897.9 44 45 46 47 Analytical measures (percent) Long-term debt/credit market debt Short-term debt/credit market debt 57.9 42.1 59.0 41.0 59.3 40.7 59.5 40.5 60.6 39.4 60.0 40.0 59.3 40.7 59.7 40.3 60.1 39.9 61.3 38.7 62.8 37.2 46 47 48 Liquid assets/short-term liabilities 26.1 28.0 26.2 26.6 28.0 27.0 27.4 28.2 27.4 27.2 28.7 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 bond issues. (2) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds. (3) Loans (except mortgages), short-term paper, taxes payable, and trade payables. Includes loans due in more than one year and excludes current maturities of bonds and mortgages. (4) Sum of lines 2 through 9, plus line 13. 65 Z.1, September 18, 2001 L.103 Nonfarm Noncorporate Business Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 Total financial assets 2 3 4 Checkable deposits and currency Time and savings deposits Money market fund shares 5 6 7 8 Treasury securities Municipal securities Mortgages Consumer credit 9 10 11 12 13 14 15 16 17 18 19 20 21 Trade receivables Miscellaneous assets Insurance receivables Equity investment in GSEs (1) Other Total liabilities Credit market instruments Bank loans n.e.c. Other loans and advances Mortgages Trade payables Taxes payable Miscellaneous liabilities 1996 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 546.0 641.3 772.4 1101.8 1264.3 1295.3 1341.5 1367.0 1393.6 1422.4 1449.8 1 104.7 71.5 17.0 124.0 75.0 19.2 146.2 85.7 22.9 178.3 94.8 32.6 203.3 104.8 42.6 209.6 105.8 43.1 220.4 107.7 43.2 224.4 108.0 47.2 228.3 108.8 52.6 233.3 110.1 59.6 238.5 111.4 66.6 2 3 4 21.5 2.2 21.7 0.0 26.7 2.6 20.4 0.0 30.8 3.2 18.7 0.0 37.0 1.5 30.7 0.0 33.9 3.5 40.7 0.0 31.3 3.5 42.7 0.0 27.6 3.6 46.5 0.0 25.9 3.6 47.0 0.0 23.7 3.7 48.6 0.0 20.9 3.7 50.1 0.0 18.2 3.8 51.5 0.0 5 6 7 8 140.3 167.0 44.2 1.0 121.9 169.8 203.5 44.8 1.7 157.1 204.9 259.9 45.2 1.7 213.0 245.6 481.4 45.6 1.6 434.2 291.4 544.1 45.9 1.6 496.6 301.6 557.7 46.0 1.7 510.0 321.2 571.2 46.3 1.6 523.3 325.5 585.3 46.5 1.6 537.2 332.2 595.7 45.8 1.6 548.3 337.2 607.5 46.0 1.6 559.9 340.7 619.1 46.2 1.5 571.3 9 10 11 12 13 1400.7 1534.6 1724.4 2010.9 2256.3 2310.7 2379.3 2425.6 2478.3 2521.9 2565.5 14 1062.0 1129.8 1225.5 1364.4 1520.1 1554.3 1600.3 1631.5 1666.1 1696.7 1727.9 15 164.7 92.3 805.0 193.6 93.0 843.2 237.3 97.3 890.9 256.3 109.5 998.6 274.2 117.7 1128.3 278.7 121.1 1154.5 287.1 124.9 1188.3 288.9 126.7 1215.9 292.0 129.0 1245.0 292.2 129.4 1275.1 287.2 132.6 1308.2 16 17 18 86.2 37.6 214.8 116.8 42.5 245.5 147.8 49.8 301.3 170.9 60.5 415.1 196.4 68.8 471.0 202.9 71.0 482.5 211.2 73.7 494.1 214.8 74.9 504.3 218.8 76.3 517.2 222.0 77.3 525.9 224.8 78.1 534.8 19 20 21 (1) Equity in the Farm Credit System. L.104 Farm Business (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 61.2 61.1 61.7 64.2 63.6 63.4 63.6 63.7 62.9 62.9 63.1 1 2 Checkable deposits and currency 16.7 16.7 16.9 18.8 18.0 17.8 17.6 17.5 17.4 17.2 17.1 2 3 4 5 Miscellaneous assets Insurance receivables Equity investment in GSEs (2) 44.5 42.3 2.2 44.4 42.9 1.5 44.8 43.3 1.5 45.4 43.7 1.7 45.6 43.9 1.6 45.6 44.0 1.5 46.0 44.4 1.6 46.2 44.5 1.6 45.5 43.9 1.6 45.6 44.1 1.6 45.9 44.3 1.7 3 4 5 161.0 167.1 174.7 183.5 189.4 189.8 197.0 198.8 201.5 200.3 206.3 6 144.8 149.7 155.9 163.9 169.4 170.7 176.2 177.9 180.7 180.2 184.8 7 39.7 20.8 84.2 40.4 22.4 86.9 43.9 21.9 90.0 45.1 22.2 96.6 44.2 22.8 102.3 42.4 24.0 104.2 45.9 23.5 106.8 46.2 23.4 108.3 46.9 24.5 109.3 45.1 24.6 110.4 47.8 24.3 112.7 8 9 10 16.2 17.4 18.8 19.6 20.0 19.2 20.8 20.9 20.9 20.1 21.5 11 6 7 8 9 10 11 Total financial assets Total liabilities Credit market instruments Bank loans n.e.c. Other loans and advances Mortgages Trade payables (1) Corporate and noncorporate farms. (2) Equity in the Farm Credit System. 66 Z.1, September 18, 2001 L.105 State and Local Governments (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 994.1 1007.9 1033.3 1180.3 1267.8 1278.6 1297.9 1305.8 1321.0 1337.5 1357.4 1 2 3 4 Checkable deposits and currency Time and savings deposits Security RPs 33.3 62.0 115.7 27.8 72.6 147.8 32.2 78.4 151.4 28.3 91.1 158.5 32.1 102.1 163.5 27.2 98.9 176.4 27.0 100.7 174.0 25.7 103.4 177.0 33.2 111.5 173.3 30.2 109.9 178.0 33.1 106.2 182.3 2 3 4 5 Credit market instruments 6 7 8 9 10 11 12 Total financial assets 1996 638.6 604.8 605.0 739.4 782.8 782.9 795.8 788.7 792.0 792.4 789.1 5 Open market paper U.S. government securities Treasury Agency 39.4 441.3 289.8 151.5 59.7 373.2 257.0 116.2 74.0 354.8 239.3 115.4 102.0 448.3 269.3 179.0 103.9 474.3 266.8 207.5 105.6 470.5 257.2 213.3 110.0 476.4 256.4 220.0 109.0 467.9 241.9 226.0 111.5 467.2 236.2 231.0 112.5 461.9 224.0 237.9 108.2 460.2 216.5 243.6 6 7 8 9 Municipal securities Corporate and foreign bonds Mortgages 5.1 39.0 113.8 4.6 49.7 117.6 3.9 51.0 121.3 2.5 61.2 125.4 1.0 73.8 129.8 0.6 75.3 130.9 1.0 76.5 132.0 1.8 76.9 133.1 1.6 77.5 134.3 2.1 80.4 135.4 2.0 82.2 136.6 10 11 12 13 14 Corporate equities Mutual fund shares 26.2 35.0 46.8 41.0 79.0 33.6 102.0 21.3 115.0 25.6 113.2 22.9 115.0 24.3 117.6 25.4 115.1 26.4 108.6 28.8 118.6 30.7 13 14 15 16 Taxes receivable Miscellaneous assets 27.9 55.4 26.1 41.0 26.9 27.0 28.1 11.5 33.5 13.1 35.5 21.5 39.0 21.9 42.9 25.0 45.6 24.1 49.1 40.5 50.8 46.5 15 16 17 1556.9 1581.0 1668.5 1779.3 1860.7 1874.1 1888.9 1892.6 1915.2 1948.7 1985.6 17 18 Credit market instruments 1070.2 1063.4 1119.5 1199.8 1252.1 1257.3 1265.7 1263.1 1279.3 1306.5 1337.3 18 19 20 21 22 Municipal securities Short-term Other U.S. government loans 1060.4 32.9 1027.5 9.8 1053.3 39.1 1014.1 10.1 1110.6 47.5 1063.1 8.9 1189.7 41.2 1148.5 10.1 1242.4 44.8 1197.6 9.7 1247.9 46.4 1201.5 9.3 1256.7 45.2 1211.6 8.9 1254.5 43.5 1211.0 8.6 1270.6 47.9 1222.7 8.7 1297.7 52.8 1244.9 8.8 1328.4 55.1 1273.3 8.9 19 20 21 22 486.7 517.6 549.0 579.5 608.6 616.9 623.2 629.6 635.9 642.1 648.4 23 23 Total liabilities Trade payables (1) Data for employee retirement funds are shown in table L.120. L.106 Federal Government Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total financial assets 2 3 4 Gold, SDRs, and official foreign exchange Checkable deposits and currency Time and savings deposits 5 Credit market instruments 6 7 8 9 10 11 12 Agency securities Mortgages Other loans and advances Trade receivables Taxes receivable Miscellaneous assets Total 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 441.3 440.7 437.9 442.9 557.5 537.6 532.4 538.3 506.7 537.3 538.0 1 53.8 22.2 0.9 44.9 38.3 2.4 42.0 41.6 3.4 51.0 23.2 4.7 44.5 87.9 5.4 44.0 48.5 5.5 41.5 60.2 5.7 39.7 55.7 6.2 40.9 24.6 6.3 39.2 30.2 8.4 38.0 50.4 9.9 2 3 4 207.2 200.2 205.4 219.1 258.0 259.6 261.6 262.7 265.4 266.6 268.9 5 0.0 57.5 149.7 0.0 50.3 149.9 0.0 45.7 159.7 0.0 44.9 174.2 0.0 77.7 180.3 0.0 76.8 182.8 0.0 76.8 184.7 0.0 76.5 186.2 0.0 76.9 188.6 0.0 76.3 190.3 0.0 76.2 192.8 6 7 8 23.1 17.3 116.9 24.0 20.7 110.2 20.8 20.0 104.8 22.3 21.4 101.2 22.9 38.5 100.3 25.4 55.9 98.7 26.9 37.9 98.7 27.7 47.4 98.8 28.1 42.4 98.9 31.7 62.3 98.8 31.9 39.9 99.0 9 10 11 4289.2 4491.3 4546.9 4529.4 4499.3 4463.0 4283.5 4244.7 4225.0 4254.6 4117.2 12 10.2 18.3 9.7 18.9 9.2 19.3 9.2 19.9 6.2 20.9 6.2 21.4 4.2 22.1 3.2 23.2 2.2 23.2 2.2 22.9 2.2 23.2 13 14 3636.7 3781.8 3804.9 3752.2 3681.0 3653.5 3464.0 3410.2 3385.2 3408.8 3261.4 15 185.0 3423.5 28.2 0.0 187.0 3568.1 26.6 0.0 186.5 3591.8 26.5 0.0 186.6 3537.1 28.5 0.0 186.4 3466.3 28.3 0.0 185.3 3440.5 27.8 0.0 184.6 3251.1 28.2 0.0 184.3 3198.2 27.6 0.0 184.8 3173.1 27.3 0.0 184.8 3197.3 26.8 0.0 186.0 3048.4 27.0 0.0 16 17 18 19 81.1 536.2 6.7 81.8 591.9 7.3 72.9 634.0 6.6 64.9 676.5 6.7 65.6 719.0 6.6 67.0 708.2 6.6 67.5 719.2 6.5 68.3 733.3 6.6 66.7 741.3 6.4 64.3 749.8 6.5 62.0 762.1 6.4 20 21 22 67 Z.1, September 18, 2001 L.107 Rest of the World Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 Total financial assets 2 3 4 5 Net interbank assets U.S. checkable deposits and currency U.S. time deposits Security RPs 6 Credit market instruments 7 8 9 10 11 12 13 14 15 16 Open market paper U.S. government securities Official holdings Treasury Agency Private holdings Treasury Agency U.S. corporate bonds (1) Loans to U.S. corporate business 1996 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 3490.9 4202.8 4925.7 5672.2 6400.8 6634.5 6867.8 7069.1 7368.9 7618.6 7766.2 1 229.3 193.8 49.6 67.6 177.3 213.7 60.6 70.9 173.0 243.6 73.6 90.8 145.9 258.4 86.6 72.0 139.4 298.3 101.6 86.8 130.2 277.8 99.2 76.0 166.2 280.3 99.6 88.1 138.0 282.3 98.0 93.3 127.9 290.1 107.2 91.9 60.2 292.9 97.2 116.2 102.5 294.7 97.8 119.5 2 3 4 5 1531.1 1926.6 2257.3 2539.8 2676.2 2760.7 2809.9 2861.7 3004.6 3112.9 3198.9 6 43.4 996.1 497.8 482.8 15.0 57.9 1289.5 610.5 590.7 19.8 77.8 1498.5 614.5 589.8 24.7 115.3 1622.2 620.3 589.0 31.3 102.3 1633.6 628.9 578.2 50.7 100.0 1674.5 653.2 594.4 58.8 98.2 1679.3 659.6 590.4 69.1 94.6 1700.7 664.8 581.4 83.4 111.0 1772.4 676.9 582.3 94.6 110.0 1814.1 679.4 581.3 98.1 113.2 1820.8 658.1 553.6 104.5 7 8 9 10 11 498.3 358.5 139.8 679.0 502.6 176.5 884.0 662.2 221.8 1001.9 729.7 272.2 1004.6 660.7 344.0 1021.3 651.3 370.0 1019.8 630.8 389.0 1035.8 618.3 417.6 1095.5 639.7 455.8 1134.7 640.2 494.4 1162.7 638.9 523.8 12 13 14 369.5 122.1 453.2 126.0 537.8 143.3 660.0 142.3 820.8 119.5 865.4 120.8 907.6 124.8 954.0 112.4 1003.9 117.3 1073.9 114.9 1143.8 121.0 15 16 17 18 19 U.S. corporate equities Trade receivables Security credit 527.6 51.0 0.0 656.8 57.1 0.0 919.5 60.3 0.0 1175.1 51.7 0.0 1537.8 46.8 0.0 1598.2 46.4 0.0 1620.4 47.4 0.0 1724.9 49.6 0.0 1748.3 52.5 0.0 1626.5 54.1 0.0 1732.2 53.0 0.0 17 18 19 20 21 22 Miscellaneous assets Foreign direct investment in U.S. (2) Other 840.9 680.1 160.8 1039.9 745.6 294.3 1107.7 823.1 284.5 1342.6 912.2 430.5 1513.9 1094.4 419.5 1646.0 1131.4 514.7 1755.9 1221.9 534.0 1821.4 1299.2 522.2 1946.4 1369.5 576.9 2258.6 1422.4 836.2 2167.6 1490.0 677.6 20 21 22 2011.7 2316.8 2561.4 2788.9 3073.8 3223.8 3382.6 3641.1 3528.3 3952.3 3974.9 23 23 Total liabilities 24 25 U.S. official foreign exchange and net IMF position U.S. private deposits 63.7 418.8 53.7 521.7 48.9 618.5 60.1 642.3 50.1 703.6 49.4 781.9 46.5 782.8 44.9 772.6 46.0 824.5 43.3 883.4 41.7 846.8 24 25 26 Credit market instruments 453.7 542.2 608.0 651.5 679.6 707.1 716.4 749.9 775.8 776.5 776.3 26 56.2 299.4 67.5 366.3 65.1 427.7 72.9 462.6 89.2 479.4 101.6 490.6 101.2 498.4 109.8 521.3 120.9 533.7 112.8 542.0 110.1 551.0 27 28 34.6 2.6 10.9 21.1 55.4 8.2 43.7 2.9 14.3 26.5 54.8 9.9 52.1 2.1 13.8 36.3 53.3 9.7 58.9 2.8 13.1 43.0 52.4 4.7 59.4 3.0 10.0 46.5 47.8 3.9 63.3 2.8 11.4 49.1 47.9 3.8 64.7 3.1 12.0 49.5 48.0 4.1 67.7 3.6 12.6 51.5 47.4 3.8 70.7 3.5 13.2 54.0 47.3 3.1 73.9 3.6 16.2 54.1 46.9 0.8 67.2 3.3 9.2 54.8 47.1 0.8 29 30 31 32 33 34 45.3 0.0 43.6 0.0 48.7 0.0 46.3 0.0 50.6 0.0 50.0 0.0 53.0 0.0 49.8 0.0 52.1 0.0 50.7 0.0 53.6 0.0 35 36 1030.2 27.4 2.3 885.5 115.0 1155.6 29.2 2.1 986.5 137.7 1237.4 30.8 2.1 1067.4 137.0 1388.8 32.4 1.9 1196.8 157.7 1589.9 33.9 2.6 1328.0 225.5 1635.3 34.2 2.3 1368.9 230.0 1783.9 34.6 2.3 1404.5 342.5 2023.9 34.9 2.4 1448.1 538.4 1829.9 35.4 2.6 1445.2 346.8 2198.5 35.9 2.5 1489.2 670.9 2256.5 36.4 2.5 1526.9 690.7 37 38 39 40 41 776.8 1002.9 1207.8 1476.2 2026.6 2057.4 2010.9 1854.0 1787.0 1574.0 1610.7 42 27 28 Commercial paper Bonds 29 30 31 32 33 34 Bank loans n.e.c. Official Banks Other U.S. government loans Acceptance liabilities to banks 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 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). 68 Z.1, September 18, 2001 L.108 Monetary Authority (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 1997 1998 1999 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 471.9 495.2 534.0 566.8 696.9 604.1 609.8 608.5 636.0 625.3 638.5 1 2 3 4 Gold and foreign exchange SDR certificates Treasury currency 32.1 10.2 24.0 30.2 9.7 25.0 28.0 9.2 25.6 30.7 9.2 26.3 27.1 6.2 28.0 26.8 6.2 29.0 26.5 4.2 30.0 26.6 3.2 30.8 26.6 2.2 31.6 25.5 2.2 32.3 25.4 2.2 32.6 2 3 4 5 6 7 Federal Reserve float Fed. Res. loans to domestic banks Security RPs 0.1 0.1 13.9 4.3 0.1 21.6 0.7 2.0 23.8 1.6 0.0 30.4 -0.2 0.2 140.6 -0.2 0.2 23.7 -0.0 0.5 26.9 0.4 0.4 17.3 0.9 0.1 43.4 0.2 0.0 22.0 -0.4 0.2 23.3 5 6 7 8 Credit market instruments 380.8 393.1 431.4 452.5 478.1 501.9 505.1 511.5 511.8 523.9 535.1 8 0.0 380.8 378.2 2.6 0.0 0.0 393.1 390.9 2.2 0.0 0.0 431.4 430.7 0.7 0.0 0.0 452.5 452.1 0.3 0.0 0.0 478.1 478.0 0.2 0.0 0.0 501.9 501.7 0.2 0.0 0.0 505.1 505.0 0.1 0.0 0.0 511.5 511.4 0.1 0.0 0.0 511.8 511.7 0.1 0.0 0.0 523.9 523.9 0.0 0.0 0.0 535.1 535.1 0.0 0.0 9 10 11 12 13 10.7 11.2 13.2 16.1 16.8 16.5 16.6 18.3 19.3 19.3 20.2 14 467.9 490.7 528.8 560.9 690.5 596.1 605.7 604.7 629.2 618.8 631.2 15 9 10 11 12 13 14 15 Total financial assets 1996 Acceptances U.S. government securities Treasury Agency Bank loans n.e.c. Miscellaneous assets Total liabilities 16 17 Depository institution reserves Vault cash of commercial banks 29.6 40.6 24.5 45.2 30.8 45.0 26.3 42.1 24.0 66.5 18.2 35.2 18.5 37.0 17.6 34.5 19.0 44.4 17.8 36.0 18.6 37.2 16 17 18 19 20 21 Checkable deposits and currency Due to federal government Due to rest of the world Currency outside banks 390.3 6.2 0.4 383.7 413.6 8.0 0.2 405.5 443.5 5.7 0.5 437.4 481.8 6.2 0.2 475.4 590.4 28.5 0.1 561.8 532.7 4.5 0.2 528.0 540.6 6.3 0.1 534.1 542.9 8.6 0.2 534.1 555.2 5.6 0.3 549.3 556.1 6.1 0.1 549.8 567.2 7.6 0.1 559.4 18 19 20 21 22 23 24 Miscellaneous liabilities Federal Reserve Bank stock Other 7.4 4.0 3.5 7.4 4.6 2.8 9.5 5.4 4.0 10.7 6.0 4.8 9.4 6.4 3.0 10.0 6.7 3.3 9.6 6.9 2.8 9.6 6.9 2.7 10.6 7.0 3.6 8.8 7.0 1.8 8.2 7.1 1.0 22 23 24 (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. 69 Z.1, September 18, 2001 L.109 Commercial Banking (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 Total financial assets 2 3 4 Vault cash Reserves at Federal Reserve Checkable deposits and currency 5 Total bank credit 1996 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 4493.8 4710.4 5174.6 5642.2 5989.3 6065.7 6228.3 6368.1 6487.8 6505.7 6592.9 1 40.6 26.9 1.6 45.2 22.3 1.4 45.0 29.1 1.4 42.1 24.4 2.0 66.5 22.0 2.2 35.2 16.6 1.9 37.0 16.9 2.1 34.5 16.5 1.4 44.4 18.0 1.7 36.0 16.8 1.9 37.2 17.6 1.7 2 3 4 3604.6 3794.5 4144.5 4483.3 4782.0 4882.5 5011.6 5105.9 5194.7 5223.4 5241.8 5 U.S. government securities Treasury Agency 746.1 278.7 467.5 757.5 261.8 495.7 841.2 270.1 571.2 876.6 214.0 662.6 925.0 226.7 698.3 931.5 215.6 715.9 920.8 201.4 719.4 912.8 200.9 711.8 903.1 182.2 720.9 887.6 171.9 715.7 875.5 178.1 697.5 6 7 8 9 10 Municipal securities Corporate and foreign bonds 93.4 110.9 94.2 112.3 96.7 143.1 104.8 181.1 110.7 219.9 111.9 214.1 112.3 219.0 113.4 253.5 114.0 277.5 112.7 290.5 116.2 326.1 9 10 11 12 13 14 15 16 Total loans Open market paper Bank loans n.e.c. Mortgages Consumer credit Security credit 2646.9 5.7 949.6 1090.2 502.0 99.5 2821.1 6.5 1041.7 1145.4 526.8 100.8 3052.9 2.7 1169.8 1245.3 512.6 122.5 3304.8 1.1 1314.9 1337.0 508.9 142.9 3504.9 1.4 1383.8 1495.2 499.8 124.8 3602.1 1.4 1413.7 1546.5 497.1 143.4 3736.9 1.4 1464.6 1614.1 506.2 150.6 3801.9 1.3 1471.7 1648.1 521.8 159.0 3875.3 1.5 1497.9 1659.3 541.5 175.2 3909.0 0.6 1495.1 1688.1 533.7 191.6 3899.2 0.0 1462.9 1723.1 540.2 173.0 11 12 13 14 15 16 17 18 Corporate equities Mutual fund shares 5.0 2.3 6.8 2.6 2.6 8.1 6.8 9.2 10.4 11.1 10.5 12.4 10.5 12.2 11.8 12.5 11.0 13.8 7.7 15.9 8.8 16.0 17 18 22.3 797.8 23.4 823.7 20.6 934.0 11.3 1079.1 8.2 1108.3 8.7 1120.8 9.0 1151.7 8.4 1201.4 7.5 1221.5 7.4 1220.1 6.6 1288.0 19 20 4333.2 4547.4 5053.0 5519.3 5836.9 5932.5 6138.2 6253.0 6364.7 6389.7 6503.1 21 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 220.5 0.2 -9.0 229.3 171.1 4.4 -10.6 177.3 143.5 2.8 -32.2 173.0 120.6 1.7 -27.0 145.9 113.9 -0.0 -25.5 139.4 116.3 0.0 -13.9 130.2 155.1 0.5 -11.6 166.2 121.1 0.7 -17.6 138.0 124.6 1.0 -4.3 127.9 62.1 0.2 1.7 60.2 107.6 -0.2 5.3 102.5 22 23 24 25 26 27 28 29 Checkable deposits Federal government Rest of the world Private domestic 710.8 19.0 24.1 667.7 676.3 28.7 26.9 620.7 656.4 27.8 31.7 597.0 623.0 13.2 30.2 579.7 626.2 49.6 43.6 533.1 574.9 37.5 29.9 507.4 574.0 48.7 31.4 493.9 537.0 39.3 32.6 465.1 541.0 16.4 34.1 490.5 495.3 2.2 34.8 458.4 503.4 2.2 33.8 467.5 26 27 28 29 30 31 32 Small time and savings deposits Large time deposits Federal funds and security RPs (net) 1490.1 387.8 422.2 1613.2 493.1 463.2 1761.5 601.0 552.2 1945.2 673.3 639.2 2016.5 792.3 749.8 2077.5 816.4 777.6 2100.3 833.6 827.4 2156.2 864.5 827.5 2229.8 887.2 813.4 2311.6 900.0 838.7 2342.1 904.8 823.6 30 31 32 33 Credit market instruments 250.6 263.6 309.2 382.1 449.3 463.6 494.7 502.0 509.3 540.3 543.8 33 52.8 161.1 36.7 55.7 168.9 39.0 58.5 192.6 58.1 56.9 220.2 104.9 63.1 240.6 145.6 59.7 248.9 155.0 61.7 258.4 174.6 62.9 266.6 172.6 63.6 273.2 172.4 71.2 293.1 176.1 69.4 295.4 179.0 34 35 36 2.8 848.4 4.0 863.0 5.4 1023.7 7.1 1128.7 9.0 1079.9 9.5 1096.8 10.0 1143.2 10.6 1234.1 11.1 1248.4 11.7 1230.0 12.3 1265.5 37 38 3520.1 3707.7 4031.9 4335.7 4643.9 4725.0 4847.4 4931.0 5002.3 5015.7 5050.6 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). 70 Z.1, September 18, 2001 L.110 U.S.-Chartered Commercial Banks Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 Total financial assets 2 Vault cash and reserves at Federal Reserve 3 Total bank credit 4 5 6 7 8 9 U.S. government securities Treasury Agency Mortgage pool securities Agency-issued CMOs Other agency securities 10 11 12 13 14 Municipal securities Corporate and foreign bonds Private mortgage pool securities Privately issued CMOs Other bonds 15 16 17 18 19 20 Total loans Open market paper Bank loans n.e.c. Mortgages Consumer credit Security credit 21 22 Corporate equities Mutual fund shares 23 24 25 Customers’ liab. on acceptances (1) Miscellaneous assets Total liabilities 1996 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 3321.7 3444.5 3742.2 4094.2 4433.0 4507.6 4627.6 4700.2 4772.9 4788.5 4830.2 1 66.6 66.3 71.2 65.5 87.1 51.4 53.3 50.6 62.0 52.3 54.4 2 3116.3 3231.5 3512.2 3844.4 4161.3 4263.5 4381.3 4453.3 4512.3 4524.1 4566.4 3 629.1 207.6 421.5 195.1 101.0 125.3 609.7 173.0 436.7 216.6 89.5 130.7 664.0 166.8 497.2 247.7 107.0 142.4 703.5 124.7 578.8 301.4 115.9 161.5 730.9 122.8 608.1 283.6 120.8 203.7 752.2 125.3 626.9 289.8 120.4 216.8 747.1 116.4 630.7 289.9 119.2 221.6 729.3 108.6 620.7 283.5 108.8 228.5 714.2 87.9 626.3 297.8 111.0 217.6 690.8 72.2 618.6 308.2 114.7 195.7 691.6 69.9 621.7 323.5 116.4 181.8 4 5 6 7 8 9 92.7 69.3 4.5 24.9 39.8 93.7 64.8 4.2 21.8 38.9 96.1 85.8 3.0 22.5 60.4 104.4 118.2 3.9 42.8 71.5 110.1 161.5 4.8 48.5 108.2 111.2 156.2 3.5 46.1 106.6 111.7 162.6 2.5 47.0 113.2 112.7 195.7 3.4 51.0 141.3 113.3 214.0 4.1 56.5 153.4 112.3 229.7 7.9 57.5 164.3 115.8 242.1 8.6 64.0 169.5 10 11 12 13 14 2317.9 3.9 701.6 1045.4 502.0 65.1 2453.9 4.2 759.8 1102.9 526.8 60.2 2655.6 2.3 867.9 1208.4 512.6 64.4 2902.4 0.8 1012.2 1304.2 508.9 76.3 3137.3 0.7 1104.4 1464.8 499.8 67.6 3221.1 0.7 1131.9 1515.0 497.1 76.5 3337.1 0.6 1178.7 1581.1 506.2 70.5 3391.2 0.6 1186.5 1614.7 521.8 67.5 3446.0 0.9 1202.6 1626.3 541.5 74.7 3467.8 0.0 1197.5 1654.4 533.7 82.2 3492.0 0.0 1179.3 1688.8 540.2 83.7 15 16 17 18 19 20 5.0 2.3 6.8 2.6 2.6 8.1 6.8 9.2 10.4 11.1 10.5 12.4 10.5 12.2 11.8 12.5 11.0 13.8 7.7 15.9 8.8 16.0 21 22 12.3 126.6 13.9 132.8 13.7 145.2 9.1 175.2 6.6 177.9 7.1 185.7 7.3 185.8 6.8 189.6 5.9 192.8 6.0 206.1 5.3 204.1 23 24 3457.6 3598.7 3959.7 4366.8 4684.0 4789.8 4958.9 5023.0 5107.0 5152.1 5242.6 25 26 27 28 29 30 Net interbank liabilities Federal Reserve float Borrowing from Federal Reserve banks To domestic banks To foreign banks 54.4 0.1 0.1 -20.0 74.1 0.4 4.3 0.1 -41.8 37.8 2.9 0.7 2.0 -50.2 50.4 25.1 1.6 0.0 -51.0 74.4 55.7 -0.2 0.2 -65.1 120.8 57.1 -0.2 0.2 -65.0 122.1 103.0 -0.0 0.5 -66.2 168.7 87.9 0.4 0.4 -65.1 152.3 77.8 0.9 0.1 -73.8 150.6 84.4 0.2 0.0 -52.6 136.8 125.4 -0.4 0.2 -25.6 151.2 26 27 28 29 30 31 32 33 34 Checkable deposits Federal government Rest of the world Private domestic 695.8 19.0 18.1 658.6 661.4 28.7 21.6 611.1 640.3 27.8 26.0 586.5 605.9 13.2 24.8 567.9 608.6 49.6 37.6 521.5 558.4 37.5 24.4 496.5 556.5 48.7 25.3 482.5 520.8 39.3 27.5 454.0 523.8 16.4 28.4 479.0 478.7 2.2 29.3 447.2 486.2 2.2 30.9 453.1 31 32 33 34 35 36 37 Small time and savings deposits Large time deposits Federal funds and security RPs (net) 1471.3 256.5 379.6 1594.2 306.1 408.2 1738.0 369.3 471.7 1924.4 404.1 538.5 1996.8 465.6 667.3 2058.0 480.4 693.7 2079.7 511.4 721.3 2136.2 530.0 705.5 2207.2 553.5 680.1 2290.4 548.8 698.5 2314.0 551.3 706.0 35 36 37 38 39 40 41 Acceptance liabilities Corporate bonds Other loans and advances Taxes payable 12.3 43.3 36.7 2.8 14.0 50.9 39.0 4.0 13.7 61.6 58.1 5.4 9.1 72.1 104.9 7.1 6.6 75.8 145.6 9.0 7.0 78.3 155.0 9.5 7.2 81.6 174.6 10.0 6.8 83.9 172.6 10.6 6.0 86.4 172.4 11.1 6.0 89.9 176.1 11.7 5.4 89.0 179.0 12.3 38 39 40 41 42 43 44 Miscellaneous liabilities Investment by bank holding companies Other 505.0 344.3 160.7 520.6 372.9 147.7 598.7 413.6 185.1 675.5 469.0 206.6 653.0 471.9 181.2 692.5 492.1 200.4 713.6 501.0 212.6 768.7 514.8 253.9 788.7 525.4 263.3 767.6 541.8 225.8 774.2 567.8 206.4 42 43 44 3056.1 3175.8 3450.7 3761.2 4078.9 4171.3 4295.4 4368.2 4418.7 4424.4 4463.2 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). 71 Z.1, September 18, 2001 L.111 Foreign Banking Offices in U.S. (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 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 1996 1997 1998 1999 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 666.3 714.8 811.3 806.5 756.1 720.1 743.2 769.9 785.9 757.8 768.0 1 0.8 1.1 2.9 1.0 1.4 0.5 0.6 0.4 0.5 0.6 0.5 2 436.9 507.0 567.2 568.6 539.7 547.2 556.4 577.3 607.0 622.9 598.7 3 99.6 62.3 37.3 0.0 33.5 130.4 80.7 49.7 0.0 36.6 157.3 95.1 62.2 0.0 41.3 151.8 84.8 67.0 0.0 47.1 163.6 92.3 71.3 0.0 42.0 157.4 86.9 70.5 0.0 43.0 151.1 81.6 69.5 0.0 43.0 159.1 89.0 70.1 0.0 43.7 163.6 91.7 71.9 0.0 49.6 173.1 97.8 75.3 0.0 45.9 160.4 106.2 54.2 0.0 69.8 4 5 6 7 8 303.9 1.7 232.6 35.1 34.4 339.9 2.3 264.8 32.2 40.6 368.6 0.4 284.0 26.1 58.0 369.7 0.3 282.2 20.6 66.6 334.1 0.6 259.9 16.4 57.2 346.8 0.8 262.2 17.0 66.8 362.3 0.8 263.9 17.5 80.1 374.5 0.7 265.1 17.3 91.5 393.8 0.6 275.7 17.1 100.5 403.9 0.6 276.8 17.1 109.4 368.5 0.0 262.5 16.8 89.3 9 10 11 12 13 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14 10.1 218.5 9.4 197.2 6.9 234.3 2.2 234.6 1.6 213.3 1.6 170.7 1.7 184.4 1.6 190.5 1.6 176.8 1.5 132.9 1.2 167.6 15 16 681.3 731.9 830.8 828.7 781.5 746.3 770.3 797.9 814.9 787.7 798.9 17 18 19 20 Net interbank liabilities To foreign banks To domestic banks 181.0 173.6 7.5 178.6 162.1 16.5 148.2 144.4 3.8 92.8 92.7 0.1 51.6 44.2 7.4 21.3 13.1 8.1 14.9 4.5 10.4 2.5 -4.3 6.8 10.1 -14.4 24.4 -30.2 -47.7 17.5 -13.8 -54.6 40.8 18 19 20 21 22 23 Checkable deposits Small time and savings deposits Large time deposits 8.7 8.5 121.0 8.0 8.7 176.6 8.8 13.1 221.3 8.6 9.5 257.8 9.1 7.5 314.5 8.3 7.2 323.7 9.3 7.7 309.3 8.1 6.5 321.0 8.8 9.0 320.1 8.2 7.7 337.8 8.5 13.5 339.0 21 22 23 24 25 Federal funds and security RPs (net) Acceptance liabilities 43.2 10.4 55.1 9.6 80.7 7.2 100.4 2.4 82.1 2.0 83.2 2.0 104.9 2.0 120.9 1.9 134.5 2.0 139.6 1.8 116.9 1.4 24 25 26 27 28 29 Miscellaneous liabilities Foreign direct investment in U.S. Due to affiliates Other 308.5 32.7 50.7 225.1 295.2 30.3 64.5 200.5 351.5 38.8 78.8 233.9 357.2 44.2 90.6 222.4 314.7 63.3 93.0 158.4 300.7 68.4 114.6 117.7 322.2 68.9 114.5 138.8 337.0 69.7 119.9 147.4 330.5 72.9 138.7 119.0 322.8 73.2 142.3 107.3 333.4 77.1 137.3 119.0 26 27 28 29 412.6 475.8 516.1 504.2 484.1 482.0 478.1 487.5 508.1 515.0 510.7 30 Memo: 30 Credit market funds advanced (3) (1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank. (2) Included in other loans and advances (table L.216). (3) Total bank credit (line 3) less security credit (line 13) less corporate equities (line 14) plus customers’ liability on acceptances (line 15). 72 Z.1, September 18, 2001 L.112 Bank Holding Companies Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 2 3 4 5 6 7 8 9 10 11 12 Total financial assets Credit market instruments 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 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 1996 1997 1998 1999 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 466.8 510.8 575.3 685.9 741.0 778.1 795.7 833.4 865.7 896.4 930.1 1 18.0 22.0 27.4 26.5 32.7 22.1 23.0 21.3 20.5 22.3 21.6 2 8.1 3.4 4.7 7.7 2.3 9.0 4.0 4.9 10.5 2.5 9.5 4.0 5.5 15.5 2.4 7.5 0.9 6.6 14.8 4.1 14.1 8.8 5.4 15.9 2.6 5.7 0.9 4.7 14.6 1.9 6.0 1.1 5.0 12.9 4.0 6.2 1.1 5.1 13.3 1.8 5.6 0.8 4.8 13.2 1.6 6.2 0.8 5.4 13.4 2.7 6.0 0.9 5.1 12.9 2.7 3 4 5 6 7 448.7 344.3 64.7 39.8 488.9 372.9 64.9 51.1 547.9 413.6 89.9 44.4 659.5 469.0 134.0 56.5 708.4 471.9 151.2 85.4 756.0 492.1 184.4 79.6 772.7 501.0 184.9 86.8 812.1 514.8 198.9 98.4 845.2 525.4 213.5 106.3 874.1 541.8 227.3 105.0 908.5 567.8 232.1 108.6 8 9 10 11 157.1 178.3 218.8 270.6 314.5 338.9 349.7 370.0 382.5 390.0 400.3 12 -14.9 3.5 -18.5 -7.9 14.7 -22.6 -7.6 14.3 -21.9 2.7 23.9 -21.3 6.6 32.1 -25.5 37.9 43.0 -5.0 37.2 44.2 -7.0 30.7 40.7 -10.0 36.7 45.1 -8.4 7.9 36.7 -28.8 -4.0 -9.9 5.9 13 14 15 -0.5 -0.2 -0.2 0.4 0.5 0.7 1.2 1.1 -1.1 0.6 0.7 16 148.0 30.1 117.9 150.0 32.0 118.0 168.6 37.6 131.0 193.5 45.4 148.1 219.3 54.5 164.8 221.4 50.8 170.6 229.3 52.4 176.8 236.9 54.1 182.7 242.5 55.7 186.8 266.5 63.4 203.2 269.1 62.7 206.4 17 18 19 24.6 36.3 57.9 74.1 88.1 78.9 82.1 101.4 104.4 115.0 134.6 20 L.113 Banks in U.S.-Affiliated Areas (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total financial assets 2 Checkable deposits and currency 3 Credit market instruments 4 5 6 7 8 9 10 11 12 13 U.S. government securities Treasury Agency Municipal securities Corporate and foreign bonds Bank loans n.e.c. Home mortgages Commercial mortgages Miscellaneous assets Total liabilities 39.0 40.3 45.8 55.5 59.2 59.9 61.8 64.7 63.3 63.0 64.6 1 1.6 1.4 1.4 2.0 2.2 1.9 2.1 1.4 1.7 1.9 1.7 2 33.4 34.1 37.8 43.8 48.3 49.6 51.0 54.0 55.0 54.1 55.1 3 9.4 5.4 4.0 0.7 0.4 8.4 4.1 4.3 0.5 0.3 10.5 4.2 6.3 0.5 0.4 13.8 3.6 10.2 0.5 1.0 16.3 2.8 13.5 0.6 0.5 16.2 2.5 13.7 0.7 0.4 16.5 2.4 14.2 0.7 0.4 18.2 2.2 16.0 0.7 0.7 19.6 1.8 17.8 0.7 0.8 17.6 1.2 16.4 0.4 1.5 17.5 1.0 16.5 0.4 1.2 4 5 6 7 8 13.1 5.7 4.0 14.6 6.3 3.9 15.5 6.4 4.4 16.3 7.5 4.8 16.9 8.1 6.0 17.8 8.4 6.1 18.0 9.0 6.4 18.4 9.4 6.7 18.0 9.1 6.8 18.1 7.1 9.5 18.4 7.5 10.1 9 10 11 4.0 4.8 6.6 9.7 8.7 8.4 8.8 9.2 6.6 7.1 7.8 12 37.2 38.6 43.7 53.1 56.9 57.5 59.3 62.0 60.4 59.8 61.3 13 14 15 16 Checkable deposits Small time and savings deposits Large time deposits 6.4 10.2 10.2 6.9 10.4 10.4 7.3 10.4 10.4 8.5 11.4 11.4 8.5 12.2 12.2 8.2 12.3 12.3 8.2 12.9 12.9 8.1 13.5 13.5 8.4 13.6 13.6 8.4 13.4 13.4 8.8 14.5 14.5 14 15 16 17 Miscellaneous liabilities 10.3 10.9 15.6 21.9 24.1 24.7 25.3 26.9 24.8 24.5 23.4 17 (1) Commercial banks and branches of U.S.-chartered commercial banks located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas. 73 Z.1, September 18, 2001 L.114 Savings Institutions (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 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 1996 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 1012.8 1031.7 1028.6 1088.4 1151.4 1160.4 1182.5 1202.9 1218.6 1254.9 1273.9 1 2.7 15.5 1.1 11.2 2.3 14.2 1.4 10.0 1.8 15.2 1.0 9.2 1.9 18.4 1.5 14.8 2.0 20.1 1.3 10.6 1.6 16.3 1.9 11.5 1.6 17.5 1.3 12.0 1.1 17.5 1.1 14.7 1.0 19.7 1.4 14.9 1.0 19.6 1.7 21.7 1.0 21.7 2.4 22.0 2 3 4 5 913.3 933.2 928.5 964.6 1033.2 1045.8 1062.5 1082.2 1089.7 1101.6 1116.1 6 7 8 9 10 Open market paper U.S. government securities Treasury Agency 0.2 183.0 18.4 164.6 0.3 173.4 17.4 156.1 0.0 169.8 14.6 155.3 0.0 153.7 10.2 143.6 0.0 157.4 10.1 147.3 0.0 152.2 9.9 142.2 0.0 149.1 9.1 140.0 0.0 148.4 8.8 139.6 0.0 149.3 8.7 140.6 0.0 153.5 8.0 145.5 0.0 158.2 7.5 150.7 7 8 9 10 11 12 13 14 15 Municipal securities Corporate and foreign bonds Other loans and advances Mortgages Consumer credit 2.0 78.5 12.8 596.8 40.1 2.1 68.6 15.7 628.3 44.7 2.1 58.7 18.8 631.8 47.2 2.5 88.6 24.2 644.0 51.6 3.0 112.0 30.7 668.6 61.5 3.1 115.7 33.4 682.4 59.0 3.0 110.6 35.4 703.5 61.0 3.0 107.3 37.9 723.1 62.5 3.2 109.5 39.3 723.8 64.6 3.9 96.0 41.4 741.4 65.5 4.0 93.1 43.8 751.7 65.3 11 12 13 14 15 14.3 54.7 17.8 52.9 23.3 49.7 24.5 62.8 23.8 60.3 23.7 59.5 24.2 63.4 24.4 61.9 24.2 67.7 24.6 84.7 25.6 85.1 16 17 995.1 1010.5 1001.0 1058.6 1120.4 1129.4 1150.7 1170.4 1186.7 1222.8 1241.3 18 727.9 97.1 550.7 80.1 721.4 122.4 512.5 86.4 695.7 149.5 448.2 98.1 693.1 185.6 393.8 113.7 699.9 222.7 354.9 122.2 705.3 234.0 342.2 129.1 707.0 244.7 331.0 131.3 718.4 254.9 324.1 139.4 727.4 265.9 319.4 142.2 750.0 278.7 318.9 152.4 755.5 291.9 307.2 156.4 19 20 21 22 16 17 18 Corporate equities Miscellaneous assets Total liabilities 19 20 21 22 Deposits Checkable Small time and savings Large time 23 Security RPs 44.5 43.7 41.8 51.3 72.7 73.5 75.0 81.2 66.7 67.1 69.6 23 24 25 26 27 Credit market instruments Corporate bonds Bank loans n.e.c. Other loans and advances 115.0 3.1 14.6 97.4 140.5 2.7 15.9 121.9 160.3 2.8 19.4 138.0 212.4 2.6 29.7 180.1 260.4 2.7 14.0 243.7 266.9 2.7 20.4 243.8 280.7 2.7 21.3 256.7 276.0 3.4 20.8 251.8 287.7 6.3 21.5 260.0 295.1 2.8 22.6 269.7 294.5 6.4 21.7 266.4 24 25 26 27 28 29 30 31 Taxes payable Miscellaneous liabilities Investment by parent Other 1.6 106.1 4.5 101.6 1.4 103.5 4.7 98.8 1.8 101.4 5.0 96.4 2.0 99.8 5.4 94.4 2.0 85.4 6.0 79.4 1.7 82.0 6.1 75.9 1.8 86.1 6.3 79.8 2.1 92.7 6.4 86.2 2.4 102.5 6.6 95.9 2.3 108.4 6.8 101.6 2.0 119.7 7.0 112.7 28 29 30 31 (1) Savings and loan associations, mutual savings banks, and federal savings banks. 74 Z.1, September 18, 2001 L.115 Credit Unions Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 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 Open market paper U.S. government securities Treasury Agency 1996 1997 1998 1999 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 310.7 330.1 353.8 391.5 414.5 428.3 429.7 435.6 441.1 463.5 476.2 1 7.4 17.1 6.4 7.5 16.4 1.4 8.1 17.0 3.5 9.1 23.4 6.8 26.4 16.6 9.3 26.4 18.8 9.6 24.0 16.6 2.8 17.6 15.2 7.8 12.2 17.1 4.0 15.0 20.2 10.8 18.1 18.7 8.3 2 3 4 263.0 288.5 305.3 324.2 351.7 359.0 370.1 376.0 382.2 381.7 391.2 5 0.6 64.1 18.3 45.7 0.3 68.1 17.4 50.7 0.2 66.7 15.6 51.0 0.4 71.5 13.1 58.4 1.9 70.9 9.6 61.3 0.8 74.8 9.4 65.4 0.3 74.7 8.8 65.8 1.2 69.5 8.6 60.9 1.2 69.2 8.2 60.9 1.1 71.5 7.4 64.2 1.6 72.2 6.6 65.7 6 7 8 9 10 11 Home mortgages Consumer credit 66.5 131.9 76.0 144.1 86.0 152.4 96.9 155.4 111.0 167.9 114.1 169.2 119.1 176.0 124.0 181.3 127.4 184.4 126.1 182.9 130.3 187.0 10 11 12 13 Mutual fund shares Miscellaneous assets 2.8 13.9 2.6 13.7 2.4 17.6 3.6 24.3 2.5 8.0 3.2 11.3 2.3 13.9 2.2 16.7 2.2 23.4 2.0 33.8 3.6 36.3 12 13 283.7 300.1 320.6 355.3 376.1 388.7 389.5 394.1 398.1 419.3 431.3 14 278.8 30.9 238.9 9.0 295.1 32.5 251.2 11.4 315.4 36.6 264.4 14.4 349.0 43.0 287.5 18.5 366.7 45.4 299.8 21.6 380.7 51.3 308.3 21.1 380.5 50.4 307.6 22.5 383.5 50.9 310.6 22.0 389.1 51.3 312.7 25.1 415.6 55.2 334.8 25.6 426.3 54.2 342.8 29.3 15 16 17 18 0.4 4.5 0.4 4.6 0.6 4.6 1.1 5.2 3.4 6.0 2.6 5.4 2.9 6.1 3.1 7.5 3.4 5.6 3.2 0.5 3.5 1.5 19 20 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; amounts outstanding end of period, 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 11 12 13 Municipal securities Corporate and foreign bonds Mortgages 14 15 Corporate equities Mutual fund shares 16 Miscellaneous assets 17 Total liabilities (2) 774.9 841.2 917.7 976.3 1104.1 1131.4 1087.5 1079.6 992.1 901.7 936.9 1 44.7 0.5 10.5 33.6 51.1 0.8 9.0 41.4 48.2 0.8 10.0 37.4 54.4 0.3 7.8 46.2 62.7 0.3 8.7 53.7 63.8 0.3 9.0 54.5 65.1 0.3 9.2 55.6 65.9 0.3 9.3 56.3 67.0 0.3 9.4 57.4 68.0 0.3 9.5 58.2 69.0 0.2 9.6 59.2 2 3 4 5 239.7 232.0 207.0 194.1 222.0 226.7 230.2 234.6 239.1 241.8 245.1 6 23.7 70.8 27.5 43.3 21.1 71.3 25.7 45.6 21.0 61.2 20.4 40.8 16.5 56.8 17.3 39.4 17.1 62.5 17.3 45.2 17.3 63.3 17.1 46.2 17.4 64.1 16.9 47.2 17.6 65.2 16.7 48.5 17.7 66.3 16.5 49.8 16.7 66.7 16.2 50.6 15.8 67.4 15.8 51.6 7 8 9 10 108.3 33.6 3.3 104.0 31.9 3.6 90.7 31.1 3.0 89.5 28.5 2.8 100.3 39.8 2.2 102.1 41.8 2.2 103.0 43.5 2.2 104.3 45.4 2.1 105.0 48.0 2.1 105.8 50.5 2.0 106.3 53.6 2.0 11 12 13 224.9 253.5 248.9 293.2 321.0 326.9 314.0 390.8 338.3 460.6 345.1 475.8 323.8 449.2 318.6 441.3 280.0 387.0 239.8 333.4 251.9 352.2 14 15 12.1 16.0 14.6 23.0 20.5 20.0 19.3 19.3 19.0 18.7 18.6 16 803.0 871.3 942.5 1001.0 1130.4 1158.0 1114.4 1106.7 1019.4 929.1 964.4 17 (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. 75 Z.1, September 18, 2001 L.117 Life Insurance Companies Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 Total financial assets 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 2246.3 2514.8 2769.5 3067.9 3155.5 3153.0 3203.9 3135.7 3103.0 3223.6 1 5.2 22.8 4.3 61.9 8.1 92.8 5.4 110.4 5.5 133.8 4.0 135.1 5.6 133.7 3.7 136.6 5.0 142.3 17.8 164.7 15.1 186.7 2 3 1587.5 1657.0 1751.1 1828.0 1886.0 1902.2 1914.1 1935.1 1943.9 1967.2 1991.0 4 Open market paper U.S. government securities Treasury Agency 45.5 351.0 108.1 242.9 48.4 337.4 93.2 244.1 65.9 312.1 85.5 226.7 73.4 288.4 71.3 217.0 75.8 287.1 62.8 224.4 72.0 289.7 61.7 228.0 73.7 290.3 60.5 229.8 75.2 292.5 59.5 233.0 71.2 293.5 58.1 235.4 60.4 297.4 53.8 243.6 53.5 297.7 48.8 249.0 5 6 7 8 Municipal securities Corporate and foreign bonds Policy loans Mortgages 11.9 870.1 95.9 213.1 13.4 949.3 100.5 208.2 16.7 1046.0 103.7 206.8 18.4 1130.4 103.8 213.6 20.1 1173.2 99.0 230.8 20.0 1192.5 98.7 229.4 19.6 1198.2 99.6 232.6 19.4 1212.2 101.1 234.7 19.1 1222.2 101.9 235.9 19.5 1252.0 102.9 235.1 20.3 1280.3 103.1 236.1 9 10 11 12 Checkable deposits and currency Money market fund shares 4 Credit market instruments 9 10 11 12 1997 2063.6 2 3 5 6 7 8 1996 13 14 Corporate equities Mutual fund shares 315.4 27.7 414.1 35.3 558.6 38.4 733.2 23.3 964.5 43.3 1027.6 47.8 1007.8 48.6 1023.3 51.1 940.8 48.1 873.2 42.6 955.1 46.1 13 14 15 Miscellaneous assets 105.1 73.7 65.7 69.2 34.9 38.7 43.1 54.0 55.6 37.5 29.6 15 16 1953.9 2115.6 2359.7 2599.7 2882.8 2963.5 2958.8 3003.1 2937.0 2898.9 3006.2 16 17 18 19 Total liabilities Other loans and advances Life insurance reserves Pension fund reserves (1) 0.5 536.3 880.6 1.6 580.1 953.9 1.8 632.7 1086.1 2.5 684.7 1209.9 3.2 748.9 1367.3 3.0 765.7 1414.2 2.7 770.6 1403.2 2.7 782.7 1424.9 2.5 782.7 1373.8 1.9 786.5 1335.8 1.9 807.5 1405.1 17 18 19 20 21 Taxes payable Miscellaneous liabilities 12.0 524.6 12.5 567.5 13.7 625.4 14.9 687.7 16.2 747.2 16.5 764.1 16.9 765.3 17.3 775.4 17.8 760.3 18.2 756.5 18.7 773.0 20 21 (1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 21). L.118 Other Insurance Companies Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total financial assets 2 3 Checkable deposits and currency Security RPs 4 Credit market instruments 5 6 7 8 9 10 11 12 13 14 15 16 740.3 770.0 843.5 879.1 875.9 879.8 877.6 879.3 871.6 851.4 866.1 1 4.9 37.5 3.9 35.4 4.2 35.2 4.0 42.7 4.3 28.3 3.1 34.8 2.7 35.3 3.1 35.8 3.7 38.3 10.6 27.8 9.6 29.0 2 3 468.7 491.2 515.3 521.1 518.2 515.4 510.8 512.4 509.4 510.0 510.7 4 U.S. government securities Treasury Agency 181.6 133.4 48.2 171.8 120.9 51.0 161.9 91.1 70.8 140.0 70.4 69.7 136.2 60.6 75.5 135.8 58.3 77.5 135.4 56.0 79.4 136.4 54.3 82.1 136.2 52.1 84.1 133.3 48.1 85.2 131.8 44.1 87.7 5 6 7 Municipal securities Corporate and foreign bonds Commercial mortgages 161.0 123.3 2.8 175.4 141.6 2.4 191.6 159.5 2.2 208.1 171.1 2.0 199.0 181.1 1.9 194.7 182.3 2.5 190.4 183.3 1.8 188.1 186.2 1.7 184.1 187.5 1.6 185.3 189.7 1.6 186.1 191.2 1.6 8 9 10 134.2 57.3 37.8 148.6 57.2 33.6 186.0 59.9 42.8 200.1 61.5 49.7 207.9 63.6 53.8 205.3 66.1 55.1 203.9 67.2 57.7 199.4 68.7 60.0 194.3 64.6 61.4 172.2 67.6 63.3 184.7 68.6 63.7 11 12 13 510.7 521.4 535.7 543.3 557.7 560.1 565.7 570.7 565.9 570.1 572.3 14 9.0 501.6 11.6 509.9 13.4 522.3 15.4 527.9 17.4 540.3 17.9 542.2 18.5 547.2 19.0 551.7 19.7 546.3 20.3 549.8 21.0 551.3 15 16 Corporate equities Trade receivables Miscellaneous assets Total liabilities Taxes payable Miscellaneous liabilities 76 Z.1, September 18, 2001 L.119 Private Pension Funds (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 Total financial assets 1996 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 2923.4 3251.1 3746.5 4204.5 4674.0 4823.1 4743.8 4796.8 4587.2 4284.3 4422.1 1 2 3 4 5 Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 4.8 106.6 37.5 22.1 5.4 111.9 48.4 26.7 6.6 119.4 61.4 27.6 6.9 120.9 63.4 28.6 8.0 116.9 75.1 29.0 8.2 116.7 75.5 29.1 8.3 118.0 75.6 29.2 8.6 117.8 78.6 29.5 8.7 118.8 81.0 29.9 8.9 117.9 83.4 29.0 9.0 116.8 85.9 29.3 2 3 4 5 6 Credit market instruments 631.2 627.0 674.6 731.0 775.9 787.6 793.8 810.0 817.2 823.7 828.8 6 7 8 9 10 Open market paper U.S. government securities Treasury Agency 24.4 356.3 142.2 214.2 30.1 343.1 139.4 203.7 31.3 354.9 143.5 211.4 34.1 389.5 139.1 250.3 37.8 419.5 138.5 280.9 35.9 429.3 137.8 291.5 36.0 432.4 139.6 292.9 36.3 441.7 139.7 302.0 36.0 446.4 137.7 308.6 32.8 447.1 131.2 315.9 30.6 443.6 129.2 314.5 7 8 9 10 11 12 Corporate and foreign bonds Mortgages 242.0 8.4 244.9 9.0 278.7 9.7 295.8 11.5 305.1 13.5 308.4 14.0 311.0 14.3 317.3 14.8 319.7 15.1 328.3 15.5 338.8 15.8 11 12 1289.2 326.8 1463.9 412.3 1696.4 569.6 1902.2 709.3 2156.9 830.1 2231.2 881.1 2153.2 871.5 2158.3 891.4 2001.1 837.6 1793.9 752.0 1862.6 800.0 13 14 13 14 Corporate equities Mutual fund shares 15 16 17 18 Miscellaneous assets Unallocated insurance contracts (2) Contributions receivable Other 505.2 332.2 82.4 90.6 555.5 361.1 86.4 108.0 590.9 381.9 93.5 115.4 642.3 422.8 95.4 124.1 682.1 457.1 96.4 128.6 693.7 467.2 96.7 129.8 694.1 465.0 96.9 132.1 702.5 471.5 97.2 133.8 692.9 460.7 97.4 134.8 675.5 442.5 97.7 135.3 689.6 455.2 97.9 136.4 15 16 17 18 19 Pension fund reserves (liabilities) (3) 2964.0 3295.2 3793.6 4255.4 4728.0 4877.9 4799.4 4853.3 4644.6 4342.5 4481.1 19 (1) Private defined benefit plans and defined contribution plans (including 401(k) type plans). Also includes the Federal Employees Retirement System Thrift Savings Plan. (2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4. (3) Equal to the value of tangible and financial assets. These liabilities are assets of the household sector. L.120 State and Local Government Employee Retirement Funds Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total financial assets 1303.3 1494.6 1817.1 2054.1 2226.8 2236.5 2242.0 2292.0 2289.6 2168.5 2229.7 1 4.2 4.5 31.5 7.5 2.3 28.2 5.3 2.4 28.6 10.0 2.0 37.5 9.2 1.7 40.4 11.1 2.4 45.4 12.5 2.7 46.8 12.0 4.4 45.1 9.1 1.1 44.7 7.2 0.8 42.5 8.0 2.0 41.5 2 3 4 529.6 565.4 632.5 704.6 751.4 767.2 775.1 784.5 801.0 804.3 808.8 5 Open market paper U.S. government securities Treasury Agency 31.5 291.1 191.7 99.4 28.2 308.4 203.5 104.9 28.6 340.2 216.9 123.3 37.5 360.1 217.7 142.4 40.4 376.4 211.2 165.3 45.4 371.9 211.1 160.8 46.8 385.9 210.5 175.5 45.1 387.8 200.7 187.2 44.7 393.5 195.7 197.8 42.5 391.3 195.3 196.0 41.5 391.0 191.0 200.0 6 7 8 9 Municipal securities Corporate and foreign bonds Mortgages 1.8 189.2 15.9 0.6 211.4 16.7 1.5 244.5 17.6 3.3 279.6 24.1 3.0 310.0 21.5 2.9 325.3 21.7 2.8 318.5 21.0 2.2 327.9 21.5 1.6 339.7 21.5 1.8 346.6 22.1 1.5 352.0 22.8 10 11 12 678.9 54.6 828.5 62.8 1084.8 63.5 1233.9 66.1 1343.2 81.0 1331.0 79.4 1322.5 82.3 1360.9 85.0 1344.6 89.0 1220.7 92.9 1275.2 94.2 13 14 1320.4 1514.6 1842.0 2085.4 2262.3 2272.8 2280.8 2332.4 2331.5 2211.9 2274.4 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 fund reserves (liabilities) (1) (1) Equal to the value of tangible and financial assets. These liabilities are assets of the household sector. 77 Z.1, September 18, 2001 L.121 Money Market Mutual Funds (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 Total financial assets 2 3 4 5 Foreign deposits Checkable deposits and currency Time and savings deposits Security RPs 6 Credit market instruments 1996 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 741.3 886.7 1042.5 1329.7 1578.8 1666.0 1627.1 1697.8 1812.1 1994.7 2014.8 1 19.7 -3.5 52.3 87.8 23.1 -1.1 82.7 103.8 23.2 1.5 111.3 126.6 30.6 -1.0 127.0 139.5 42.9 -2.2 160.4 139.6 56.4 -3.0 157.7 158.3 73.5 -3.6 125.1 169.4 75.5 0.0 129.3 172.0 91.1 2.2 136.6 183.0 112.9 -3.9 173.3 205.9 110.4 -2.8 171.5 208.2 2 3 4 5 545.5 634.3 721.9 965.9 1147.8 1217.1 1159.4 1212.5 1296.7 1403.8 1414.6 6 7 8 9 10 Open market paper U.S. government securities Treasury Agency 235.5 160.8 70.0 90.8 273.9 192.0 90.2 101.8 336.0 182.5 86.2 96.3 414.2 277.5 103.6 173.8 519.0 294.7 103.8 190.9 576.0 271.7 98.9 172.7 566.4 236.8 78.8 158.1 589.3 241.7 79.8 161.9 614.4 275.6 90.4 185.2 641.9 344.3 96.3 248.0 638.2 361.3 93.4 267.9 7 8 9 10 11 12 Municipal securities Corporate and foreign bonds 127.7 21.5 144.5 23.9 167.0 36.4 193.0 81.2 210.4 123.7 225.8 143.6 221.5 134.6 227.6 153.9 244.8 161.9 256.0 161.6 255.2 159.9 11 12 39.4 43.8 58.1 67.7 90.4 79.6 103.4 108.5 102.5 102.6 112.8 13 741.3 886.7 1042.5 1329.7 1578.8 1666.0 1627.1 1697.8 1812.1 1994.7 2014.8 14 13 14 Miscellaneous assets Total shares outstanding (liabilities) (1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.117). L.122 Mutual Funds (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total financial assets 2 Security RPs 3 Credit market instruments 1852.8 2342.4 2989.4 3610.5 4553.4 4863.3 4759.6 4814.4 4457.2 3999.8 4269.9 1 50.2 47.5 57.8 68.2 76.7 77.4 92.5 102.4 103.4 86.6 91.2 2 771.3 820.2 901.1 1025.9 1073.1 1053.7 1073.9 1088.5 1099.9 1113.8 1151.5 3 4 5 6 7 Open market paper U.S. government securities Treasury Agency 50.2 315.1 205.3 109.9 47.2 330.2 214.2 116.1 57.8 349.7 225.2 124.5 68.2 375.8 230.4 145.5 76.7 388.4 236.6 151.8 77.4 380.2 232.9 147.2 92.5 387.4 236.0 151.4 102.4 389.3 236.8 152.5 103.4 398.7 240.6 158.1 86.6 409.4 244.9 164.6 87.7 426.7 251.4 175.3 4 5 6 7 8 9 Municipal securities Corporate and foreign bonds 210.2 195.7 213.3 229.5 219.8 273.8 242.6 339.3 239.4 368.6 232.3 363.9 227.9 366.0 228.4 368.3 230.5 367.3 236.0 381.8 239.7 397.4 8 9 1024.9 6.3 1470.0 4.7 2018.7 11.8 2508.5 7.9 3400.0 3.6 3730.2 1.9 3591.3 1.9 3620.9 2.6 3250.8 3.1 2797.6 1.7 3025.6 1.6 10 11 1852.8 2342.4 2989.4 3610.5 4553.4 4863.3 4759.6 4814.4 4457.2 3999.8 4269.9 12 10 11 12 Corporate equities Miscellaneous assets Total shares outstanding (liabilities) (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; amounts outstanding end of period, not seasonally adjusted 1 2 3 4 5 6 Total financial assets Credit market instruments U.S. government securities Municipal securities Corporate and foreign bonds Corporate equities 134.3 144.4 149.0 151.0 156.3 155.8 151.6 149.6 142.8 135.8 136.3 1 96.2 100.8 98.3 103.7 111.1 109.0 106.9 104.8 102.7 100.6 98.5 2 11.3 59.4 25.5 11.4 60.8 28.6 10.2 59.9 28.1 9.3 61.8 32.6 8.0 70.5 32.6 8.0 69.3 31.7 7.9 68.2 30.8 7.8 67.0 30.0 7.7 65.9 29.1 7.6 64.7 28.2 7.6 63.6 27.3 3 4 5 38.2 43.6 50.7 47.3 45.2 46.8 44.7 44.8 40.1 35.2 37.8 6 134.3 144.4 149.0 151.0 156.3 155.8 151.6 149.6 142.8 135.8 136.3 7 Memo: 7 Market value of equities 78 Z.1, September 18, 2001 L.124 Government-Sponsored Enterprises (GSEs) (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 896.9 988.6 1099.4 1403.8 1720.6 1752.3 1812.1 1881.8 1969.4 2057.3 2125.3 1 2 3 Checkable deposits and currency Federal funds and security RPs 1.5 106.3 0.7 94.5 1.9 90.4 4.4 77.0 11.8 89.7 0.7 90.6 1.2 80.9 1.0 93.7 2.1 88.1 2.0 103.2 2.7 94.9 2 3 4 Credit market instruments 761.7 832.8 939.4 1253.9 1545.6 1584.0 1649.2 1704.3 1793.7 1866.5 1944.5 4 25.5 248.3 58.0 190.3 35.1 276.3 18.8 257.6 34.0 352.4 25.9 326.5 60.9 514.7 25.2 489.6 33.8 699.2 30.9 668.3 38.1 723.5 25.2 698.4 34.8 737.6 20.7 717.0 42.2 774.7 19.0 755.6 50.6 835.4 22.1 813.3 38.3 895.2 23.3 871.9 48.4 936.2 25.4 910.8 5 6 7 8 5.6 31.0 5.6 41.8 5.2 47.1 9.2 67.8 10.6 91.5 9.2 94.2 9.1 106.5 9.9 113.9 8.8 117.3 9.9 125.2 12.0 138.8 9 10 5 6 7 8 Total financial assets 1996 Open market paper U.S. government securities Treasury Agency 9 10 Municipal securities Corporate and foreign bonds 11 12 13 14 Other loans and advances Sallie Mae Farm Credit System FHLB 200.3 37.9 30.2 132.3 229.1 36.2 31.6 161.4 260.3 30.9 31.6 197.8 352.6 29.5 34.9 288.2 466.2 34.6 35.8 395.7 472.9 32.4 36.2 404.3 505.4 31.9 36.8 436.6 503.5 36.3 37.4 429.8 514.6 37.8 38.9 437.9 527.9 38.4 39.0 450.5 530.1 39.6 40.1 450.3 11 12 13 14 15 16 17 18 Mortgages Home Multifamily residential Farm 251.0 205.2 19.0 26.8 244.9 198.5 18.6 27.9 240.5 194.3 17.3 28.9 248.7 199.6 18.1 31.0 244.4 189.3 22.9 32.2 246.1 189.8 24.2 32.1 255.7 197.6 25.3 32.8 260.1 200.5 26.2 33.5 267.1 205.1 27.8 34.2 270.0 206.3 28.8 34.9 279.1 211.9 30.7 36.4 15 16 17 18 27.5 60.6 67.8 68.5 73.5 77.0 80.8 82.8 85.5 85.5 83.2 19 873.4 964.1 1070.3 1368.9 1681.1 1711.8 1770.0 1837.6 1922.5 2011.2 2076.3 20 806.5 806.5 0.0 896.9 896.9 0.0 995.3 995.3 0.0 1273.6 1273.6 0.0 1591.7 1591.7 0.0 1618.0 1618.0 0.0 1680.2 1680.2 0.0 1749.7 1749.7 0.0 1825.8 1825.8 0.0 1891.4 1891.4 0.0 1957.6 1957.6 0.0 21 22 23 66.9 67.2 75.1 95.3 89.3 93.8 89.8 87.9 96.7 119.8 118.7 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, Farm Credit System, the Financing Corporation, the Resolution Funding Corporation, and the Student Loan Marketing Association (Sallie Mae), which is a subsidiary of USA Education, Inc., a private company chartered in 1997. (2) Such issues are classified as U.S. government securities. L.125 Federally Related Mortgage Pools (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 1570.3 1711.3 1825.8 2018.4 2292.2 2322.1 2355.2 2414.3 2491.6 2534.2 2635.8 1 2 3 4 5 Total financial assets Home mortgages Multifamily residential mortgages Commercial mortgages Farm mortgages 1543.4 26.9 0.0 0.0 1678.8 32.5 0.0 0.0 1788.1 37.8 0.0 0.0 1970.2 48.3 0.0 0.0 2234.7 57.5 0.0 0.0 2263.0 59.1 0.0 0.0 2294.1 61.0 0.0 0.0 2351.4 63.0 0.0 0.0 2425.6 66.0 0.0 0.0 2464.9 69.3 0.0 0.0 2561.8 74.1 0.0 0.0 2 3 4 5 6 Total pool securities (liabilities)(2) 1570.3 1711.3 1825.8 2018.4 2292.2 2322.1 2355.2 2414.3 2491.6 2534.2 2635.8 6 (1) GNMA, FNMA, FHLMC, and Farmers 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. 79 Z.1, September 18, 2001 L.126 Issuers of Asset-Backed Securities (ABSs) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1996 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 1 Total financial assets 709.1 854.6 1065.8 1385.4 1611.6 1646.9 1689.0 1735.1 1822.9 1886.0 1935.0 1 2 Agency securities (1) 132.9 137.8 141.5 179.7 221.0 226.4 226.2 225.7 223.8 233.7 222.7 2 3 4 5 Other loans and advances Student loans Loans to business 30.6 1.0 29.6 44.0 6.3 37.7 76.2 14.1 62.1 103.8 17.9 85.9 113.0 19.4 93.6 124.3 22.8 101.5 125.4 24.5 100.9 128.3 30.7 97.6 138.3 29.9 108.4 138.1 30.5 107.6 139.3 30.5 108.9 3 4 5 6 7 8 9 Mortgages (2) Home Multifamily residential Commercial 278.2 224.3 11.9 41.9 326.3 256.2 15.9 54.2 407.0 310.7 20.9 75.4 563.5 405.2 33.8 124.6 655.5 455.0 42.2 158.3 669.1 463.5 43.1 162.6 687.7 471.9 44.4 171.4 708.6 484.6 46.1 177.8 740.7 499.8 49.5 191.4 769.5 523.3 50.7 195.5 814.4 539.2 57.0 218.3 6 7 8 9 Consumer credit Trade receivables 211.6 55.7 265.8 80.7 313.1 128.1 372.4 165.9 435.1 187.0 434.0 193.1 447.0 202.7 460.3 212.2 500.1 220.0 519.2 225.5 529.5 229.0 10 11 712.5 863.3 1076.6 1398.0 1621.4 1655.8 1697.0 1742.3 1829.6 1892.2 1940.8 12 101.2 611.3 146.7 716.6 256.1 820.5 381.8 1016.2 520.8 1100.6 546.6 1109.1 570.3 1126.7 595.7 1146.6 641.8 1187.8 653.3 1238.9 670.3 1270.5 13 14 3.5 7.6 8.7 7.4 10.8 11.1 12.6 13.9 9.7 12.9 8.9 13.0 7.9 12.3 7.3 11.6 6.7 10.7 6.3 10.1 5.8 10.0 15 16 10 11 12 13 14 15 16 Total liabilities Commercial paper Corporate bonds Memo: Securitized assets not included above Consumer leases (3) REIT assets (4) (1) Federally related mortgage pool securities backing privately issued CMOs. (2) Mortgages backing privately issued pool securities and privately issued CMOs. (3) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities). The leased automobile is a tangible asset. (4) Included in table L.129. L.127 Finance Companies (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total financial assets 672.3 714.6 757.4 827.6 973.5 1007.7 1041.2 1070.8 1100.4 1102.2 1123.8 1 16.6 18.5 20.6 22.8 25.3 25.9 26.6 27.2 27.9 28.6 29.3 2 2 Checkable deposits and currency 3 4 5 6 Credit market instruments Other loans and advances Mortgages Consumer credit 526.2 301.6 72.4 152.1 544.5 309.5 82.7 152.4 566.4 318.5 87.9 160.0 618.4 347.5 102.3 168.5 713.3 405.2 126.5 181.6 747.0 434.6 128.8 183.7 780.6 454.1 136.2 190.3 795.5 455.7 142.4 197.3 812.6 471.1 148.3 193.2 809.4 471.7 151.8 185.9 829.6 481.5 157.1 191.0 3 4 5 6 7 Miscellaneous assets 129.6 151.5 170.4 186.5 234.9 234.7 234.1 248.1 259.9 264.2 264.9 7 691.2 741.0 777.6 839.2 975.1 1029.7 1064.7 1098.5 1132.9 1134.1 1160.2 8 483.9 168.6 300.0 15.3 529.8 177.6 332.5 19.7 554.5 201.5 328.8 24.1 597.5 231.5 339.7 26.3 659.9 227.9 397.0 35.1 670.7 230.2 412.0 28.5 712.7 234.2 445.1 33.3 716.5 215.6 465.5 35.4 734.6 235.2 463.8 35.6 721.4 178.2 501.8 41.4 727.1 177.3 504.6 45.2 9 10 11 12 4.9 5.7 6.5 7.3 8.1 8.3 8.6 8.8 9.1 9.3 9.6 13 202.4 24.8 51.1 126.5 205.5 29.7 60.3 115.6 216.7 35.7 64.7 116.3 234.4 38.3 61.8 134.3 307.1 49.7 123.8 133.5 350.6 47.8 145.1 157.7 343.4 48.6 136.8 158.0 373.2 49.9 144.3 179.0 389.2 67.3 146.5 175.4 403.3 73.2 138.4 191.7 423.6 77.9 145.9 199.8 14 15 16 17 80.8 92.5 96.8 93.3 98.3 101.7 103.9 104.6 102.9 101.3 99.7 18 8 Total liabilities 9 10 11 12 Credit market instruments Open market paper Corporate bonds Bank loans n.e.c. 13 Taxes payable 14 15 16 17 Miscellaneous liabilities Foreign direct investment in U.S. Investment by parent Other 18 Memo: Consumer leases not included above (2) (1) Includes retail captive finance companies. (2) See footnote (3), table L.126. 80 Z.1, September 18, 2001 L.128 Mortgage Companies Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1996 1997 1998 1999 2000 Q1 1 2 3 4 5 6 7 Total financial assets Home mortgages Multifamily residential mortgages Commercial mortgages Total liabilities Bank loans n.e.c. Investment by parent Q2 2001 Q3 Q4 Q1 Q2 33.0 41.2 32.1 35.3 35.6 34.1 35.5 35.4 35.9 36.2 36.5 1 23.8 4.2 5.1 32.0 4.1 5.1 21.8 5.2 5.1 24.9 5.3 5.1 25.2 5.3 5.1 23.7 5.3 5.1 25.1 5.3 5.1 24.9 5.3 5.1 25.4 5.4 5.1 25.8 5.4 5.1 26.0 5.4 5.1 2 3 4 33.0 41.2 32.1 35.3 35.6 34.1 35.5 35.4 35.9 36.2 36.5 5 16.5 16.5 20.6 20.6 16.0 16.0 17.7 17.7 17.8 17.8 17.1 17.1 17.8 17.8 17.7 17.7 17.9 17.9 18.1 18.1 18.2 18.3 6 7 68.4 64.9 63.2 63.2 62.1 63.5 65.3 1 L.129 Real Estate Investment Trusts (REITs) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total financial assets 2 Checkable deposits and currency 3 Credit market instruments 4 5 Agency securities Corporate and foreign bonds 6 7 8 9 Mortgages Home Multifamily residential Commercial 10 Miscellaneous assets 33.3 38.2 64.3 70.7 0.0 2.2 3.3 4.1 4.4 4.5 4.2 3.8 4.3 4.1 4.6 2 26.0 30.4 50.6 45.5 42.9 38.8 38.2 37.3 36.6 37.6 37.9 3 9.0 2.9 12.2 4.3 21.2 6.5 13.1 6.1 14.2 5.7 14.1 5.6 13.1 6.4 13.9 5.7 14.5 5.3 13.9 7.4 17.4 5.2 4 5 14.1 6.9 1.6 5.6 13.8 8.0 1.2 4.6 22.9 14.0 2.1 6.9 26.3 14.8 2.1 9.4 23.0 12.4 1.6 9.0 19.2 8.8 1.4 9.0 18.6 8.3 1.6 8.7 17.8 8.0 1.5 8.2 16.8 7.9 1.3 7.6 16.3 7.8 1.2 7.4 15.3 7.6 1.2 6.5 6 7 8 9 7.3 5.6 10.5 21.2 21.1 21.5 20.8 22.0 21.1 21.8 22.8 10 205.6 216.8 216.8 219.0 220.6 217.5 221.9 219.2 11 11 Total liabilities 62.2 79.4 139.0 12 Security RPs 10.9 13.7 24.9 15.1 15.7 13.0 11.2 12.4 11.9 13.1 15.1 12 13 14 15 16 17 Credit market instruments Open market paper Corporate bonds Bank loans n.e.c. Mortgages 44.6 0.0 15.5 5.0 24.1 56.5 0.0 16.8 7.8 31.9 96.1 0.0 31.6 17.6 46.8 158.8 0.2 53.4 33.6 71.6 165.1 0.1 62.2 26.0 76.7 167.9 0.1 63.9 25.5 78.5 170.4 1.0 67.2 21.2 81.0 169.8 0.2 68.6 18.6 82.5 167.8 0.2 67.0 17.7 82.9 166.2 0.1 70.0 15.0 81.1 166.8 0.0 66.5 15.2 85.1 13 14 15 16 17 6.7 9.2 18.0 31.6 36.0 35.9 37.4 38.5 37.8 42.6 37.3 18 7.6 4.2 3.5 0.0 0.0 7.4 4.5 2.6 0.3 0.0 11.1 4.9 5.7 0.4 0.0 13.9 5.0 7.5 0.8 0.6 12.9 3.7 7.6 0.9 0.7 13.0 3.8 7.9 0.8 0.6 12.3 3.7 7.3 0.7 0.6 11.6 3.6 6.7 0.7 0.6 10.7 3.5 6.7 0.4 0.1 10.1 3.4 6.2 0.4 0.1 10.0 3.1 6.0 0.5 0.4 19 20 21 22 23 18 19 20 21 22 23 Miscellaneous liabilities Memo: Securitized assets included above Agency securities Home mortgages Multifamily residential mortgages Commercial mortgages 81 Z.1, September 18, 2001 L.130 Security Brokers and Dealers Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 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 1996 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 568.1 636.4 779.2 921.2 1001.0 1130.3 1130.1 1205.3 1217.4 1211.5 1333.3 1 13.7 15.7 21.7 25.4 28.7 27.0 26.9 20.6 30.3 31.0 37.0 2 183.4 167.7 182.6 189.4 154.7 194.6 187.9 243.3 223.6 317.7 288.4 3 22.1 72.3 18.3 54.0 12.7 76.4 23.7 42.4 -12.8 55.2 10.8 90.9 24.3 45.1 -5.3 50.4 13.2 100.0 28.0 66.7 15.8 50.9 13.1 81.4 26.0 23.3 -42.6 66.0 11.9 93.4 30.2 43.5 -6.8 50.3 10.8 110.0 38.2 30.7 -24.4 55.1 9.9 109.1 45.4 70.4 7.8 62.6 10.8 116.6 39.2 60.4 -3.3 63.7 11.3 112.7 44.6 136.4 61.1 75.3 12.7 124.0 44.8 97.9 1.6 96.3 13.7 132.0 4 5 6 7 8 9 34.2 78.6 258.2 37.9 94.4 320.7 51.9 131.2 391.8 54.4 152.8 499.3 66.9 227.9 522.8 74.4 282.4 552.0 74.5 267.8 573.0 81.5 271.4 588.5 75.3 233.7 654.5 78.3 195.8 588.8 89.8 195.9 722.1 10 11 12 535.5 597.5 729.2 866.2 937.7 1060.6 1059.2 1133.2 1144.1 1136.8 1257.9 13 14 15 Security RPs (net) Corporate bonds 182.4 29.3 180.9 27.3 203.5 35.3 208.1 42.5 245.2 25.3 285.1 36.4 271.4 36.2 317.6 42.6 302.4 40.9 287.0 35.0 332.8 43.9 14 15 16 17 18 19 20 Trade payables Security credit Customer credit balances (HH) From banks Taxes payable 10.3 227.1 127.6 99.5 1.1 14.3 263.7 162.9 100.8 1.3 19.9 337.9 215.5 122.5 1.3 18.9 419.6 276.7 142.9 1.3 30.9 448.7 323.9 124.8 2.2 33.7 513.0 369.6 143.4 2.4 39.4 507.8 357.2 150.6 1.7 35.9 529.0 370.0 159.0 1.8 35.9 583.9 408.7 175.2 2.1 35.3 603.6 412.0 191.6 1.2 33.3 585.8 412.8 173.0 1.3 16 17 18 19 20 21 22 23 24 Miscellaneous liabilities Foreign direct investment in U.S. Due to affiliates Other 85.4 11.1 132.9 -58.6 110.1 8.8 175.7 -74.4 131.1 8.5 245.7 -123.1 175.8 10.1 338.2 -172.5 185.5 15.8 395.6 -225.9 190.0 16.4 416.7 -243.2 202.7 16.8 428.7 -242.7 206.4 17.4 437.8 -248.8 178.9 16.7 454.1 -291.8 174.7 17.8 482.9 -326.1 260.7 18.3 479.4 -237.0 21 22 23 24 L.131 Funding Corporations (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total financial assets 394.1 499.2 612.7 719.8 976.6 1004.5 1056.5 1062.2 1100.7 1109.5 1084.9 1 2 Money market fund shares 120.2 147.5 157.9 215.8 264.7 267.3 264.5 286.4 298.2 325.1 356.1 2 3 4 5 Credit market instruments Open market paper Corporate and foreign bonds 108.4 84.6 23.8 121.0 84.5 36.5 166.7 133.6 33.1 155.3 117.7 37.6 288.8 255.0 33.8 294.5 270.7 23.8 341.3 310.2 31.1 320.7 296.8 23.9 325.4 291.5 33.9 292.3 248.7 43.6 246.0 192.7 53.3 3 4 5 6 7 8 Miscellaneous assets (2) Investment in foreign banking offices Investment in brokers and dealers 165.5 50.7 114.8 230.7 64.5 166.3 288.0 78.8 209.2 348.7 90.6 258.2 423.1 93.0 330.1 442.7 114.6 328.1 450.7 114.5 336.2 455.1 119.9 335.2 477.1 138.7 338.4 492.0 142.3 349.7 482.7 137.3 345.5 6 7 8 394.1 499.2 612.7 719.8 976.6 1004.5 1056.5 1062.2 1100.7 1109.5 1084.9 9 10 11 12 9 Total liabilities Credit market instruments Open market paper Corporate bonds 248.6 164.2 84.4 312.7 199.1 113.6 373.7 229.6 144.2 414.4 236.3 178.2 506.6 271.1 235.5 510.1 279.0 231.1 505.1 268.0 237.1 511.9 277.2 234.7 507.3 269.9 237.5 526.9 278.1 248.9 482.9 227.4 255.5 10 11 12 13 14 15 16 Miscellaneous liabilities Foreign direct investment in U.S. Securities loaned (net) Other 145.5 -83.1 216.2 12.4 186.5 -82.0 276.1 -7.6 239.0 -85.7 333.3 -8.6 305.3 -65.7 403.3 -32.2 470.0 -83.5 419.5 133.9 494.4 -67.4 446.1 115.7 551.5 -54.3 467.5 138.3 550.3 -56.8 470.0 137.1 593.3 -30.3 505.8 117.9 582.5 -34.9 487.8 129.6 602.0 -0.2 541.0 61.1 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. 82 Z.1, September 18, 2001 L.200 Gold and Official Foreign Exchange Holdings (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1996 1997 1998 1999 2000 Q1 1 2 3 4 5 6 7 8 9 10 11 Total U.S. reserves U.S. gold stock and SDRs Federal govt.: Exchange Stab. Fund Monetary authority (2) U.S. foreign exchange position Q2 2001 Q3 Q4 Q1 Q2 85.8 75.1 70.0 81.8 71.6 70.8 68.0 66.3 67.5 64.7 63.3 1 22.1 21.4 21.1 21.6 21.4 21.4 21.5 21.4 21.5 21.5 21.6 2 11.0 11.1 10.3 11.0 10.0 11.0 10.6 11.0 10.4 11.0 10.3 11.0 10.4 11.0 10.3 11.0 10.5 11.0 10.4 11.0 10.6 11.0 3 4 63.7 53.7 48.9 60.1 50.1 49.4 46.5 44.9 46.0 43.3 41.7 5 Official foreign currency holdings Treasury Monetary authority 49.1 28.0 21.1 38.3 19.0 19.3 30.8 13.8 17.0 36.0 16.2 19.8 32.2 16.0 16.1 31.5 15.7 15.8 31.0 15.5 15.6 31.2 15.6 15.6 30.9 15.3 15.7 29.4 14.9 14.6 27.3 12.9 14.4 6 7 8 Net IMF position Federal government Monetary authority 14.6 14.7 -0.1 15.4 15.5 -0.1 18.1 18.2 -0.1 24.1 24.2 -0.1 18.0 18.0 -0.1 17.9 18.0 -0.1 15.4 15.5 -0.1 13.7 13.8 -0.1 15.1 15.2 -0.1 13.8 13.9 -0.1 14.5 14.5 -0.1 9 10 11 (1) Lines 1, 2, and 3 include increases in SDRs through allocations, which occurred at various dates beginning January 1970. Also included in the table are revaluations of foreign currency holdings, gold, SDRs, and IMF position. These allocations and revaluations are excluded from tables on flows. (2) Treasury gold stock. L.201 SDR Certificates and Treasury Currency Billions of dollars; amounts outstanding end of period, not seasonally adjusted SDR certificates: 1 2 Liab: Federal government Asset: Monetary authority 10.2 10.2 9.7 9.7 9.2 9.2 9.2 9.2 6.2 6.2 6.2 6.2 4.2 4.2 3.2 3.2 2.2 2.2 2.2 2.2 2.2 2.2 1 2 Treasury currency: 3 4 Liab: Federal government Asset: Monetary authority 18.3 24.0 18.9 25.0 19.3 25.6 19.9 26.3 20.9 28.0 21.4 29.0 22.1 30.0 23.2 30.8 23.2 31.6 22.9 32.3 23.2 32.6 3 4 5 Discrepancy (seigniorage) -5.7 -6.1 -6.3 -6.4 -7.1 -7.6 -7.9 -7.6 -8.5 -9.4 -9.4 5 L.202 U.S. Deposits in Foreign Countries Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 2 3 4 5 Total rest of the world liability Held by: Household sector Nonfinancial corporate business Money market mutual funds Discrepancy--unallocated assets 418.8 521.7 618.5 642.3 703.6 781.9 782.8 772.6 824.5 883.4 846.8 1 23.4 15.6 19.7 35.5 26.1 23.1 37.2 21.0 23.2 38.3 28.4 30.6 43.5 26.1 42.9 48.6 20.2 56.4 48.6 24.4 73.5 48.0 37.7 75.5 51.3 22.2 91.1 49.8 16.3 112.9 45.8 13.3 110.4 2 3 4 360.2 437.0 537.1 544.9 591.1 656.7 636.3 611.5 659.9 704.4 677.4 5 83 Z.1, September 18, 2001 L.203 Net Interbank Transactions Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 Total liabilities 2 3 4 Monetary authority Depository institution reserves Vault cash 5 6 Commercial banking To monetary authority 7 To banks in foreign countries, net 1996 1997 1998 1999 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 290.7 240.8 219.4 189.0 204.5 169.7 210.6 173.2 188.0 116.0 163.4 1 70.2 29.6 40.6 69.7 24.5 45.2 75.8 30.8 45.0 68.4 26.3 42.1 90.6 24.0 66.5 53.4 18.2 35.2 55.5 18.5 37.0 52.1 17.6 34.5 63.4 19.0 44.4 53.9 17.8 36.0 55.8 18.6 37.2 2 3 4 220.5 0.2 171.1 4.4 143.5 2.8 120.6 1.7 113.9 -0.0 116.3 0.0 155.1 0.5 121.1 0.7 124.6 1.0 62.1 0.2 107.6 -0.2 5 6 229.3 177.3 173.0 145.9 139.4 130.2 166.2 138.0 127.9 60.2 102.5 7 8 9 10 11 Liabilities, net U.S.-chartered commercial banks Due to foreign affiliates - Due from foreign affiliates 239.7 79.6 128.7 49.1 192.9 48.5 126.8 78.4 188.8 62.0 173.1 111.1 156.7 85.1 196.7 111.6 148.9 130.1 231.2 101.1 139.5 131.4 248.1 116.8 176.1 178.2 306.2 128.0 147.5 161.2 304.0 142.7 136.9 158.9 307.4 148.5 67.7 144.0 267.8 123.8 112.4 160.7 279.9 119.2 8 9 10 11 12 13 14 Foreign banking offices in U.S. Due to foreign affiliates - Due from foreign affiliates 178.6 99.9 -78.7 167.1 110.4 -56.6 148.6 99.7 -48.8 92.9 133.0 40.1 44.4 141.5 97.1 13.2 151.8 138.6 4.9 126.6 121.7 -3.8 105.1 108.8 -13.6 133.1 146.7 -47.5 153.0 200.5 -54.2 133.1 187.3 12 13 14 15 16 17 Bank holding companies Due to foreign affiliates - Due from foreign affiliates -18.5 3.0 21.4 -22.6 2.7 25.3 -21.9 3.0 24.9 -21.3 2.9 24.2 -25.5 8.3 33.9 -5.0 0.0 5.0 -7.0 0.0 7.0 -10.0 0.0 10.0 -8.4 0.0 8.4 -28.8 8.5 37.3 5.9 48.8 43.0 15 16 17 10.4 5.4 5.0 15.6 10.6 5.0 15.8 11.7 4.1 10.8 10.6 0.2 9.5 9.4 0.2 9.4 9.3 0.1 9.9 9.5 0.4 9.5 8.9 0.6 9.0 8.3 0.7 7.5 7.2 0.2 9.9 9.4 0.4 18 19 20 -9.0 -10.6 -32.2 -27.0 -25.5 -13.9 -11.6 -17.6 -4.3 1.7 5.3 21 -20.0 43.3 51.5 0.8 -9.0 -41.8 38.3 48.4 0.5 -10.6 -50.2 22.0 53.8 0.3 -32.2 -51.0 29.8 55.9 0.9 -27.0 -65.1 47.4 72.2 0.6 -25.5 -65.0 49.1 62.5 0.5 -13.9 -66.2 53.9 64.8 0.7 -11.6 -65.1 45.3 62.4 0.5 -17.6 -73.8 59.6 63.4 0.6 -4.3 -52.6 66.0 63.6 0.7 1.7 -25.6 53.1 46.5 1.4 5.3 22 23 24 25 26 58.9 4.4 64.9 15.2 57.6 14.6 55.9 24.8 79.7 32.8 70.7 43.5 75.1 45.0 69.2 41.2 87.8 45.6 81.2 37.3 87.3 -8.5 27 28 7.5 58.9 51.5 16.5 64.9 48.4 3.8 57.6 53.8 0.1 55.9 55.9 7.4 79.7 72.2 8.1 70.7 62.5 10.4 75.1 64.8 6.8 69.2 62.4 24.4 87.8 63.4 17.5 81.2 63.6 40.8 87.3 46.5 29 30 31 3.5 4.4 0.8 14.7 15.2 0.5 14.3 14.6 0.3 23.9 24.8 0.9 32.1 32.8 0.6 43.0 43.5 0.5 44.2 45.0 0.7 40.7 41.2 0.5 45.1 45.6 0.6 36.7 37.3 0.7 -9.9 -8.5 1.4 32 33 34 299.7 251.4 251.6 215.9 230.0 183.6 222.2 190.8 192.3 114.3 158.1 35 229.3 177.3 173.0 145.9 139.4 130.2 166.2 138.0 127.9 60.2 102.5 36 70.4 74.1 78.6 70.0 90.6 53.4 56.0 52.9 64.4 54.1 55.6 37 0.2 0.1 0.1 4.4 4.3 0.1 2.8 0.7 2.0 1.7 1.6 0.0 -0.0 -0.2 0.2 0.0 -0.2 0.2 0.5 -0.0 0.5 0.7 0.4 0.4 1.0 0.9 0.1 0.2 0.2 0.0 -0.2 -0.4 0.2 38 39 40 67.5 26.9 40.6 67.5 22.3 45.2 74.1 29.1 45.0 66.5 24.4 42.1 88.5 22.0 66.5 51.8 16.6 35.2 53.9 16.9 37.0 51.0 16.5 34.5 62.4 18.0 44.4 52.9 16.8 36.0 54.8 17.6 37.2 41 42 43 18 19 20 21 22 23 24 25 26 27 28 Less: Deposits at foreign banks U.S. chartered commercial banks Foreign banking offices in U.S. To U.S. banking, net U.S.-chartered commercial banks Liabilities To foreign offices in U.S. To bank holding companies Unallocated Less, due from: Foreign offices in U.S. Bank holding companies 29 30 31 Foreign banking offices in U.S. Due to U.S. banks - Due from U.S. banks 32 33 34 Bank holding companies Due to U.S. banks - Due from U.S. banks 35 Total assets 36 Rest of the world 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 45 Savings insts.: Reserves at Fed. Res. Discrepancy--floats, etc. 2.7 2.3 1.8 1.9 2.0 1.6 1.6 1.1 1.0 1.0 1.0 44 -9.0 -10.6 -32.2 -27.0 -25.5 -13.9 -11.6 -17.6 -4.3 1.7 5.3 45 84 Z.1, September 18, 2001 L.204 Checkable Deposits and Currency Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 1229.1 1244.8 1286.1 1333.4 1484.8 1392.9 1409.7 1385.7 1413.3 1385.2 1416.8 1 2 3 4 5 Monetary authority Federal government cash and deposits Deposits due to foreign Currency outside banks 390.3 6.2 0.4 383.7 413.6 8.0 0.2 405.5 443.5 5.7 0.5 437.4 481.8 6.2 0.2 475.4 590.4 28.5 0.1 561.8 532.7 4.5 0.2 528.0 540.6 6.3 0.1 534.1 542.9 8.6 0.2 534.1 555.2 5.6 0.3 549.3 556.1 6.1 0.1 549.8 567.2 7.6 0.1 559.4 2 3 4 5 6 7 8 9 Commercial banking Federal government deposits Deposits due to foreign Private domestic deposits 710.8 19.0 24.1 667.7 676.3 28.7 26.9 620.7 656.4 27.8 31.7 597.0 623.0 13.2 30.2 579.7 626.2 49.6 43.6 533.1 574.9 37.5 29.9 507.4 574.0 48.7 31.4 493.9 537.0 39.3 32.6 465.1 541.0 16.4 34.1 490.5 495.3 2.2 34.8 458.4 503.4 2.2 33.8 467.5 6 7 8 9 97.1 30.9 122.4 32.5 149.5 36.6 185.6 43.0 222.7 45.4 234.0 51.3 244.7 50.4 254.9 50.9 265.9 51.3 278.7 55.2 291.9 54.2 10 11 10 11 12 Total liabilities 1996 Savings institutions Credit unions 1229.1 1244.8 1286.1 1333.4 1484.8 1392.9 1409.7 1385.7 1413.3 1385.2 1416.8 12 13 Total assets Household sector 495.9 425.2 368.3 360.0 278.5 258.2 218.2 202.0 231.2 231.9 232.1 13 14 15 16 17 Nonfinancial business Corporate Nonfarm noncorporate Farm 374.3 252.9 104.7 16.7 430.4 289.8 124.0 16.7 483.6 320.5 146.2 16.9 532.6 335.4 178.3 18.8 631.5 410.1 203.3 18.0 642.5 415.1 209.6 17.8 678.6 440.6 220.4 17.6 695.4 453.5 224.4 17.5 685.7 440.0 228.3 17.4 657.7 407.1 233.3 17.2 667.3 411.6 238.5 17.1 14 15 16 17 18 19 State and local governments Federal government 33.3 22.2 27.8 38.3 32.2 41.6 28.3 23.2 32.1 87.9 27.2 48.5 27.0 60.2 25.7 55.7 33.2 24.6 30.2 30.2 33.1 50.4 18 19 20 21 22 Rest of the world Checkable deposits Currency 193.8 24.5 169.2 213.7 27.1 186.6 243.6 32.2 211.4 258.4 30.4 228.0 298.3 43.7 254.6 277.8 30.1 247.7 280.3 31.6 248.7 282.3 32.8 249.5 290.1 34.4 255.7 292.9 34.9 258.0 294.7 33.9 260.8 20 21 22 23 Financial sectors 72.4 80.9 98.7 111.7 143.9 126.4 128.2 116.9 127.2 143.1 154.3 23 1.6 15.5 7.4 0.5 1.4 14.2 7.5 0.8 1.4 15.2 8.1 0.8 2.0 18.4 9.1 0.3 2.2 20.1 26.4 0.3 1.9 16.3 26.4 0.3 2.1 17.5 24.0 0.3 1.4 17.5 17.6 0.3 1.7 19.7 12.2 0.3 1.9 19.6 15.0 0.3 1.7 21.7 18.1 0.2 24 25 26 27 5.2 4.9 4.8 4.2 4.3 3.9 5.4 7.5 8.1 4.2 6.6 5.3 5.4 4.0 6.9 10.0 5.5 4.3 8.0 9.2 4.0 3.1 8.2 11.1 5.6 2.7 8.3 12.5 3.7 3.1 8.6 12.0 5.0 3.7 8.7 9.1 17.8 10.6 8.9 7.2 15.1 9.6 9.0 8.0 28 29 30 31 -3.5 1.5 16.6 0.0 13.7 -1.1 0.7 18.5 2.2 15.7 1.5 1.9 20.6 3.3 21.7 -1.0 4.4 22.8 4.1 25.4 -2.2 11.8 25.3 4.4 28.7 -3.0 0.7 25.9 4.5 27.0 -3.6 1.2 26.6 4.2 26.9 0.0 1.0 27.2 3.8 20.6 2.2 2.1 27.9 4.3 30.3 -3.9 2.0 28.6 4.1 31.0 -2.8 2.7 29.3 4.6 37.0 32 33 34 35 36 37.2 28.5 18.1 19.3 12.5 12.3 17.3 7.7 21.4 -0.8 -15.2 37 24 25 26 27 Commercial banking Savings institutions Credit unions Bank personal trusts and estates 28 29 30 31 Life insurance companies Other insurance companies Private pension funds State and local govt. retirement funds 32 33 34 35 36 Money market mutual funds Government-sponsored enterprises Finance companies REITs Brokers and dealers 37 Mail float 85 Z.1, September 18, 2001 L.205 Time and Savings Deposits Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 2 Total liabilities Small time and savings deposits 1996 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 2756.6 2967.9 3187.5 3432.0 3607.3 3694.5 3726.2 3816.7 3916.4 4043.3 4082.6 1 2279.7 2377.0 2474.1 2626.5 2671.2 2728.0 2738.8 2790.9 2861.9 2965.3 2992.0 2 1490.1 1471.3 8.5 10.2 1613.2 1594.2 8.7 10.4 1761.5 1738.0 13.1 10.4 1945.2 1924.4 9.5 11.4 2016.5 1996.8 7.5 12.2 2077.5 2058.0 7.2 12.3 2100.3 2079.7 7.7 12.9 2156.2 2136.2 6.5 13.5 2229.8 2207.2 9.0 13.6 2311.6 2290.4 7.7 13.4 2342.1 2314.0 13.5 14.5 3 4 5 6 3 4 5 6 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Banks in U.S.-affiliated areas 7 8 Savings institutions Credit unions 550.7 238.9 512.5 251.2 448.2 264.4 393.8 287.5 354.9 299.8 342.2 308.3 331.0 307.6 324.1 310.6 319.4 312.7 318.9 334.8 307.2 342.8 7 8 9 Large time deposits (1) 476.9 590.9 713.4 805.5 936.1 966.5 987.4 1025.9 1054.5 1078.0 1090.6 9 387.8 256.5 121.0 10.2 493.1 306.1 176.6 10.4 601.0 369.3 221.3 10.4 673.3 404.1 257.8 11.4 792.3 465.6 314.5 12.2 816.4 480.4 323.7 12.3 833.6 511.4 309.3 12.9 864.5 530.0 321.0 13.5 887.2 553.5 320.1 13.6 900.0 548.8 337.8 13.4 904.8 551.3 339.0 14.5 10 11 12 13 80.1 9.0 86.4 11.4 98.1 14.4 113.7 18.5 122.2 21.6 129.1 21.1 131.3 22.5 139.4 22.0 142.2 25.1 152.4 25.6 156.4 29.3 14 15 2756.6 2967.9 3187.5 3432.0 3607.3 3694.5 3726.2 3816.7 3916.4 4043.3 4082.6 16 2337.5 2490.1 2649.0 2840.8 2952.6 3050.0 3110.1 3193.5 3264.0 3359.9 3401.7 17 114.4 42.9 71.5 118.6 43.6 75.0 122.0 36.3 85.7 126.1 31.3 94.8 140.1 35.3 104.8 134.3 28.5 105.8 137.0 29.3 107.7 138.4 30.3 108.0 143.0 34.2 108.8 144.5 34.4 110.1 146.0 34.6 111.4 18 19 20 62.0 0.9 49.6 72.6 2.4 60.6 78.4 3.4 73.6 91.1 4.7 86.6 102.1 5.4 101.6 98.9 5.5 99.2 100.7 5.7 99.6 103.4 6.2 98.0 111.5 6.3 107.2 109.9 8.4 97.2 106.2 9.9 97.8 21 22 23 192.2 223.7 261.1 282.6 305.6 306.5 273.0 277.2 284.4 323.5 320.9 24 1.1 17.1 10.5 1.4 16.4 9.0 1.0 17.0 10.0 1.5 23.4 7.8 1.3 16.6 8.7 1.9 18.8 9.0 1.3 16.6 9.2 1.1 15.2 9.3 1.4 17.1 9.4 1.7 20.2 9.5 2.4 18.7 9.6 25 26 27 106.6 4.5 52.3 111.9 2.3 82.7 119.4 2.4 111.3 120.9 2.0 127.0 116.9 1.7 160.4 116.7 2.4 157.7 118.0 2.7 125.1 117.8 4.4 129.3 118.8 1.1 136.6 117.9 0.8 173.3 116.8 2.0 171.5 28 29 30 10 11 12 13 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Banks in U.S.-affiliated areas 14 15 Savings institutions Credit unions 16 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 28 29 30 Private pension funds State and local govt. retirement funds Money market mutual funds (1) Large time deposits are those issued in amounts of $100,000 or more. L.206 Money Market Mutual Fund Shares Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 741.3 886.7 1042.5 1329.7 1578.8 1666.0 1627.1 1697.8 1812.1 1994.7 2014.8 1 2 3 4 Total assets Household sector Nonfinancial corporate business Nonfarm noncorporate business 450.1 60.0 17.0 500.7 67.6 19.2 582.3 87.8 22.9 747.1 114.3 32.6 871.6 137.3 42.6 951.2 139.3 43.1 914.4 140.0 43.2 936.9 155.9 47.2 1003.0 177.7 52.6 1093.4 210.3 59.6 1021.8 238.4 66.6 2 3 4 5 6 7 8 Bank personal trusts and estates Life insurance companies Private pension funds Funding corporations 33.6 22.8 37.5 120.2 41.4 61.9 48.4 147.5 37.4 92.8 61.4 157.9 46.2 110.4 63.4 215.8 53.7 133.8 75.1 264.7 54.5 135.1 75.5 267.3 55.6 133.7 75.6 264.5 56.3 136.6 78.6 286.4 57.4 142.3 81.0 298.2 58.2 164.7 83.4 325.1 59.2 186.7 85.9 356.1 5 6 7 8 86 Z.1, September 18, 2001 L.207 Federal Funds and Security Repurchase Agreements Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 660.0 701.5 822.4 913.7 1083.4 1149.2 1185.0 1238.7 1194.3 1206.0 1241.1 1 2 3 4 5 Commercial banking (net) U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies 422.2 379.6 43.2 -0.5 463.2 408.2 55.1 -0.2 552.2 471.7 80.7 -0.2 639.2 538.5 100.4 0.4 749.8 667.3 82.1 0.5 777.6 693.7 83.2 0.7 827.4 721.3 104.9 1.2 827.5 705.5 120.9 1.1 813.4 680.1 134.5 -1.1 838.7 698.5 139.6 0.6 823.6 706.0 116.9 0.7 2 3 4 5 6 7 8 Savings institutions REITs Brokers and dealers (net) 44.5 10.9 182.4 43.7 13.7 180.9 41.8 24.9 203.5 51.3 15.1 208.1 72.7 15.7 245.2 73.5 13.0 285.1 75.0 11.2 271.4 81.2 12.4 317.6 66.7 11.9 302.4 67.1 13.1 287.0 69.6 15.1 332.8 6 7 8 552.7 591.7 649.5 680.2 819.9 738.9 762.2 792.7 819.9 848.3 853.6 9 9 Total liabilities 1996 Total assets 10 11 12 Nonfinancial corporate business State and local governments Rest of the world 2.4 115.7 67.6 3.9 147.8 70.9 4.6 151.4 90.8 4.2 158.5 72.0 5.3 163.5 86.8 6.1 176.4 76.0 4.2 174.0 88.1 4.0 177.0 93.3 5.2 173.3 91.9 4.7 178.0 116.2 4.0 182.3 119.5 10 11 12 13 14 15 16 Financial sectors Monetary authority Savings institutions Credit unions 366.9 13.9 11.2 6.4 369.2 21.6 10.0 1.4 402.7 23.8 9.2 3.5 445.4 30.4 14.8 6.8 564.2 140.6 10.6 9.3 480.4 23.7 11.5 9.6 495.9 26.9 12.0 2.8 518.4 17.3 14.7 7.8 549.5 43.4 14.9 4.0 549.5 22.0 21.7 10.8 547.8 23.3 22.0 8.3 13 14 15 16 17 18 19 20 21 22 Other insurance companies Private pension funds State and local govt. retirement funds Money market mutual funds Mutual funds Government-sponsored enterprises 37.5 22.1 31.5 87.8 50.2 106.3 35.4 26.7 28.2 103.8 47.5 94.5 35.2 27.6 28.6 126.6 57.8 90.4 42.7 28.6 37.5 139.5 68.2 77.0 28.3 29.0 40.4 139.6 76.7 89.7 34.8 29.1 45.4 158.3 77.4 90.6 35.3 29.2 46.8 169.4 92.5 80.9 35.8 29.5 45.1 172.0 102.4 93.7 38.3 29.9 44.7 183.0 103.4 88.1 27.8 29.0 42.5 205.9 86.6 103.2 29.0 29.3 41.5 208.2 91.2 94.9 17 18 19 20 21 22 107.4 109.8 172.9 233.5 263.6 410.3 422.8 446.0 374.4 357.6 387.5 23 23 Discrepancy--unallocated assets L.208 Open Market Paper Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 700.4 803.0 979.4 1172.6 1402.4 1478.1 1533.3 1568.3 1610.0 1546.8 1477.9 1 677.7 779.4 958.5 1161.0 1393.8 1469.1 1524.0 1559.6 1602.1 1539.0 1471.1 2 Nonfinancial corporate business Foreign issues in U.S. Nonfinancial Financial 157.4 56.2 20.6 35.6 156.4 67.5 18.7 48.8 168.6 65.1 20.0 45.0 193.0 72.9 18.5 54.4 230.3 89.2 26.7 62.5 260.8 101.6 33.8 67.8 296.8 101.2 35.4 65.9 307.0 109.8 38.7 71.1 278.4 120.9 37.6 83.3 253.2 112.8 27.9 84.9 223.3 110.1 20.5 89.6 3 4 5 6 7 8 9 10 11 12 Financial business Commercial banking ABS issuers Finance companies REITs Funding corporations 464.2 30.1 101.2 168.6 0.0 164.2 555.5 32.0 146.7 177.6 0.0 199.1 724.8 37.6 256.1 201.5 0.0 229.6 895.2 45.4 381.8 231.5 0.2 236.3 1074.3 54.5 520.8 227.9 0.1 271.1 1106.7 50.8 546.6 230.2 0.1 279.0 1125.9 52.4 570.3 234.2 1.0 268.0 1142.8 54.1 595.7 215.6 0.2 277.2 1202.7 55.7 641.8 235.2 0.2 269.9 1173.0 63.4 653.3 178.2 0.1 278.1 1137.7 62.7 670.3 177.3 0.0 227.4 7 8 9 10 11 12 13 Bankers acceptances (1) 22.6 23.6 20.9 11.5 8.6 9.0 9.3 8.7 7.9 7.8 6.8 13 700.4 803.0 979.4 1172.6 1402.4 1478.1 1533.3 1568.3 1610.0 1546.8 1477.9 14 2 3 4 5 6 14 Total outstanding, all types Commercial paper Holdings, by sector 15 16 17 18 Household sector Nonfinancial corporate business State and local governments Rest of the world 48.0 20.1 39.4 43.4 54.7 31.5 59.7 57.9 56.1 36.1 74.0 77.8 63.7 39.4 102.0 115.3 67.7 43.7 103.9 102.3 68.9 38.3 105.6 100.0 70.2 37.1 110.0 98.2 71.4 40.3 109.0 94.6 72.7 43.3 111.5 111.0 67.2 42.9 112.5 110.0 62.7 39.0 108.2 113.2 15 16 17 18 19 20 21 22 23 Monetary authority Commercial banking (1) Savings institutions Credit unions Bank personal trusts and estates 0.0 5.7 0.2 0.6 23.7 0.0 6.5 0.3 0.3 21.1 0.0 2.7 0.0 0.2 21.0 0.0 1.1 0.0 0.4 16.5 0.0 1.4 0.0 1.9 17.1 0.0 1.4 0.0 0.8 17.3 0.0 1.4 0.0 0.3 17.4 0.0 1.3 0.0 1.2 17.6 0.0 1.5 0.0 1.2 17.7 0.0 0.6 0.0 1.1 16.7 0.0 0.0 0.0 1.6 15.8 19 20 21 22 23 24 25 26 Life insurance companies Private pension funds State and local govt. retirement funds 45.5 24.4 31.5 48.4 30.1 28.2 65.9 31.3 28.6 73.4 34.1 37.5 75.8 37.8 40.4 72.0 35.9 45.4 73.7 36.0 46.8 75.2 36.3 45.1 71.2 36.0 44.7 60.4 32.8 42.5 53.5 30.6 41.5 24 25 26 27 28 29 30 31 Money market mutual funds Mutual funds Government-sponsored enterprises Brokers and dealers Funding corporations 235.5 50.2 25.5 22.1 84.6 273.9 47.2 35.1 23.7 84.5 336.0 57.8 34.0 24.3 133.6 414.2 68.2 60.9 28.0 117.7 519.0 76.7 33.8 26.0 255.0 576.0 77.4 38.1 30.2 270.7 566.4 92.5 34.8 38.2 310.2 589.3 102.4 42.2 45.4 296.8 614.4 103.4 50.6 39.2 291.5 641.9 86.6 38.3 44.6 248.7 638.2 87.7 48.4 44.8 192.7 27 28 29 30 31 (1) Excludes banks’ holdings of own acceptances. 87 Z.1, September 18, 2001 L.209 Treasury Securities Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 3608.5 3755.1 3778.3 3723.7 3652.8 3625.8 3435.7 3382.6 3357.8 3382.1 3234.4 1 185.0 3423.5 187.0 3568.1 186.5 3591.8 186.6 3537.1 186.4 3466.3 185.3 3440.5 184.6 3251.1 184.3 3198.2 184.8 3173.1 184.8 3197.3 186.0 3048.4 2 3 3608.5 3755.1 3778.3 3723.7 3652.8 3625.8 3435.7 3382.6 3357.8 3382.1 3234.4 4 Household sector Savings bonds Other Treasury issues 739.5 185.0 554.5 739.1 187.0 552.1 598.8 186.5 412.3 485.5 186.6 298.9 542.0 186.4 355.6 489.0 185.3 303.7 380.3 184.6 195.7 342.5 184.3 158.2 331.6 184.8 146.9 313.3 184.8 128.6 261.7 186.0 75.8 5 6 7 8 9 10 Nonfinancial corporate business Nonfarm noncorporate business State and local governments 57.1 21.5 289.8 47.1 26.7 257.0 26.8 30.8 239.3 23.6 37.0 269.3 19.6 33.9 266.8 21.6 31.3 257.2 23.7 27.6 256.4 20.8 25.9 241.9 15.9 23.7 236.2 13.4 20.9 224.0 10.0 18.2 216.5 8 9 10 11 12 Rest of the world Monetary authority 841.3 378.2 1093.3 390.9 1252.0 430.7 1318.8 452.1 1238.9 478.0 1245.8 501.7 1221.2 505.0 1199.7 511.4 1222.0 511.7 1221.5 523.9 1192.6 535.1 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 278.7 207.6 62.3 3.4 5.4 261.8 173.0 80.7 4.0 4.1 270.1 166.8 95.1 4.0 4.2 214.0 124.7 84.8 0.9 3.6 226.7 122.8 92.3 8.8 2.8 215.6 125.3 86.9 0.9 2.5 201.4 116.4 81.6 1.1 2.4 200.9 108.6 89.0 1.1 2.2 182.2 87.9 91.7 0.8 1.8 171.9 72.2 97.8 0.8 1.2 178.1 69.9 106.2 0.9 1.0 13 14 15 16 17 18 19 20 Savings institutions Credit unions Bank personal trusts and estates 18.4 18.3 27.5 17.4 17.4 25.7 14.6 15.6 20.4 10.2 13.1 17.3 10.1 9.6 17.3 9.9 9.4 17.1 9.1 8.8 16.9 8.8 8.6 16.7 8.7 8.2 16.5 8.0 7.4 16.2 7.5 6.6 15.8 18 19 20 21 22 23 24 Life insurance companies Other insurance companies Private pension funds State and local govt. retirement funds 108.1 133.4 142.2 191.7 93.2 120.9 139.4 203.5 85.5 91.1 143.5 216.9 71.3 70.4 139.1 217.7 62.8 60.6 138.5 211.2 61.7 58.3 137.8 211.1 60.5 56.0 139.6 210.5 59.5 54.3 139.7 200.7 58.1 52.1 137.7 195.7 53.8 48.1 131.2 195.3 48.8 44.1 129.2 191.0 21 22 23 24 25 26 27 28 29 Money market mutual funds Mutual funds Closed-end funds Government-sponsored enterprises Brokers and dealers 70.0 205.3 11.3 58.0 18.3 90.2 214.2 11.4 18.8 -12.8 86.2 225.2 10.2 25.9 -5.3 103.6 230.4 9.3 25.2 15.8 103.8 236.6 8.0 30.9 -42.6 98.9 232.9 8.0 25.2 -6.8 78.8 236.0 7.9 20.7 -24.4 79.8 236.8 7.8 19.0 7.8 90.4 240.6 7.7 22.1 -3.3 96.3 244.9 7.6 23.3 61.1 93.4 251.4 7.6 25.4 1.6 25 26 27 28 29 3636.7 3781.8 3804.9 3752.2 3681.0 3653.5 3464.0 3410.2 3385.2 3408.8 3261.4 30 2 3 4 5 6 7 Total liabilities 1996 Savings bonds Other Treasury issues Total assets 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). 88 Z.1, September 18, 2001 L.210 Agency Securities (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 2 3 4 5 Total liabilities Budget agencies Government-sponsored enterprises Federally related mortgage pools 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 2405.0 2634.8 2847.6 3320.5 3912.2 3967.8 4063.6 4191.7 4344.8 4452.4 4620.4 1 28.2 806.5 1570.3 26.6 896.9 1711.3 26.5 995.3 1825.8 28.5 1273.6 2018.4 28.3 1591.7 2292.2 27.8 1618.0 2322.1 28.2 1680.2 2355.2 27.6 1749.7 2414.3 27.3 1825.8 2491.6 26.8 1891.4 2534.2 27.0 1957.6 2635.8 2 3 4 2405.0 2634.8 2847.6 3320.5 3912.2 3967.8 4063.6 4191.7 4344.8 4452.4 4620.4 5 Household sector Nonfinancial corporate business State and local governments 160.2 23.4 151.5 259.4 28.5 116.2 266.2 8.0 115.4 191.2 10.6 179.0 287.2 12.5 207.5 274.0 15.0 213.3 296.7 17.8 220.0 305.7 21.5 226.0 288.4 18.2 231.0 176.6 21.3 237.9 219.6 21.8 243.6 6 7 8 9 10 11 Federal government Rest of the world Monetary authority 0.0 154.8 2.6 0.0 196.3 2.2 0.0 246.5 0.7 0.0 303.4 0.3 0.0 394.6 0.2 0.0 428.8 0.2 0.0 458.1 0.1 0.0 500.9 0.1 0.0 550.3 0.1 0.0 592.6 0.0 0.0 628.3 0.0 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 467.5 421.5 37.3 4.7 4.0 495.7 436.7 49.7 4.9 4.3 571.2 497.2 62.2 5.5 6.3 662.6 578.8 67.0 6.6 10.2 698.3 608.1 71.3 5.4 13.5 715.9 626.9 70.5 4.7 13.7 719.4 630.7 69.5 5.0 14.2 711.8 620.7 70.1 5.1 16.0 720.9 626.3 71.9 4.8 17.8 715.7 618.6 75.3 5.4 16.4 697.5 621.7 54.2 5.1 16.5 12 13 14 15 16 17 18 19 Savings institutions Credit unions Bank personal trusts and estates 164.6 45.7 43.3 156.1 50.7 45.6 155.3 51.0 40.8 143.6 58.4 39.4 147.3 61.3 45.2 142.2 65.4 46.2 140.0 65.8 47.2 139.6 60.9 48.5 140.6 60.9 49.8 145.5 64.2 50.6 150.7 65.7 51.6 17 18 19 20 21 22 23 Life insurance companies Other insurance companies Private pension funds State and local govt. retirement funds 242.9 48.2 214.2 99.4 244.1 51.0 203.7 104.9 226.7 70.8 211.4 123.3 217.0 69.7 250.3 142.4 224.4 75.5 280.9 165.3 228.0 77.5 291.5 160.8 229.8 79.4 292.9 175.5 233.0 82.1 302.0 187.2 235.4 84.1 308.6 197.8 243.6 85.2 315.9 196.0 249.0 87.7 314.5 200.0 20 21 22 23 24 25 26 Money market mutual funds Mutual funds Government-sponsored enterprises 90.8 109.9 190.3 101.8 116.1 257.6 96.3 124.5 326.5 173.8 145.5 489.6 190.9 151.8 668.3 172.7 147.2 698.4 158.1 151.4 717.0 161.9 152.5 755.6 185.2 158.1 813.3 248.0 164.6 871.9 267.9 175.3 910.8 24 25 26 27 28 29 ABS issuers REITs Brokers and dealers 132.9 9.0 54.0 137.8 12.2 55.2 141.5 21.2 50.4 179.7 13.1 50.9 221.0 14.2 66.0 226.4 14.1 50.3 226.2 13.1 55.1 225.7 13.9 62.6 223.8 14.5 63.7 233.7 13.9 75.3 222.7 17.4 96.3 27 28 29 6 7 8 Total assets 1996 (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. 89 Z.1, September 18, 2001 L.211 Municipal Securities and Loans Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 Total liabilities 2 3 4 State and local governments Short-term (1) Long-term 5 6 Nonprofit organizations (2) Nonfinancial corporate business (industrial revenue bonds) 7 Total assets 1996 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 1293.5 1296.0 1367.5 1464.3 1532.5 1539.2 1551.6 1550.3 1567.8 1596.6 1629.3 1 1060.4 32.9 1027.5 1053.3 39.1 1014.1 1110.6 47.5 1063.1 1189.7 41.2 1148.5 1242.4 44.8 1197.6 1247.9 46.4 1201.5 1256.7 45.2 1211.6 1254.5 43.5 1211.0 1270.6 47.9 1222.7 1297.7 52.8 1244.9 1328.4 55.1 1273.3 2 3 4 98.3 134.8 104.9 137.9 114.9 142.0 126.9 147.8 137.3 152.8 138.0 153.3 141.4 153.4 141.9 153.9 143.0 154.2 144.2 154.7 145.3 155.6 5 6 1293.5 1296.0 1367.5 1464.3 1532.5 1539.2 1551.6 1550.3 1567.8 1596.6 1629.3 7 8 9 10 11 Household sector Nonfinancial corporate business Nonfarm noncorporate business State and local governments 455.4 36.8 2.2 5.1 433.2 31.0 2.6 4.6 468.8 27.4 3.2 3.9 488.3 25.7 1.5 2.5 526.6 22.3 3.5 1.0 529.1 23.9 3.5 0.6 542.9 36.3 3.6 1.0 543.1 27.6 3.6 1.8 541.1 33.2 3.7 1.6 550.2 32.2 3.7 2.1 571.5 33.4 3.8 2.0 8 9 10 11 12 13 14 Commercial banking Savings institutions Bank personal trusts and estates 93.4 2.0 108.3 94.2 2.1 104.0 96.7 2.1 90.7 104.8 2.5 89.5 110.7 3.0 100.3 111.9 3.1 102.1 112.3 3.0 103.0 113.4 3.0 104.3 114.0 3.2 105.0 112.7 3.9 105.8 116.2 4.0 106.3 12 13 14 15 16 17 Life insurance companies Other insurance companies State and local govt. retirement funds 11.9 161.0 1.8 13.4 175.4 0.6 16.7 191.6 1.5 18.4 208.1 3.3 20.1 199.0 3.0 20.0 194.7 2.9 19.6 190.4 2.8 19.4 188.1 2.2 19.1 184.1 1.6 19.5 185.3 1.8 20.3 186.1 1.5 15 16 17 18 19 20 21 22 Money market mutual funds Mutual funds Closed-end funds Government-sponsored enterprises Brokers and dealers 127.7 210.2 59.4 5.6 12.7 144.5 213.3 60.8 5.6 10.8 167.0 219.8 59.9 5.2 13.2 193.0 242.6 61.8 9.2 13.1 210.4 239.4 70.5 10.6 11.9 225.8 232.3 69.3 9.2 10.8 221.5 227.9 68.2 9.1 9.9 227.6 228.4 67.0 9.9 10.8 244.8 230.5 65.9 8.8 11.3 256.0 236.0 64.7 9.9 12.7 255.2 239.7 63.6 12.0 13.7 18 19 20 21 22 (1) Debt with original maturity of 13 months or less. (2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100). L.212 Corporate and Foreign Bonds Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total liabilities 2848.1 3205.1 3594.5 4144.9 4602.8 4700.8 4816.3 4939.8 5044.6 5267.9 5435.1 1 2 3 Nonfinancial corporate business Rest of the world (1) 1344.1 299.4 1460.4 366.3 1610.9 427.7 1829.6 462.6 2059.5 479.4 2106.0 490.6 2144.5 498.4 2190.6 521.3 2234.5 533.7 2335.4 542.0 2441.3 551.0 2 3 4 5 6 Financial sectors Commercial banking Savings institutions 1204.7 161.1 3.1 1378.4 168.9 2.7 1555.9 192.6 2.8 1852.8 220.2 2.6 2064.0 240.6 2.7 2104.2 248.9 2.7 2173.5 258.4 2.7 2228.0 266.6 3.4 2276.5 273.2 6.3 2390.5 293.1 2.8 2442.7 295.4 6.4 4 5 6 7 8 9 10 11 ABS issuers Finance companies REITs Brokers and dealers Funding corporations 611.3 300.0 15.5 29.3 84.4 716.6 332.5 16.8 27.3 113.6 820.5 328.8 31.6 35.3 144.2 1016.2 339.7 53.4 42.5 178.2 1100.6 397.0 62.2 25.3 235.5 1109.1 412.0 63.9 36.4 231.1 1126.7 445.1 67.2 36.2 237.1 1146.6 465.5 68.6 42.6 234.7 1187.8 463.8 67.0 40.9 237.5 1238.9 501.8 70.0 35.0 248.9 1270.5 504.6 66.5 43.9 255.5 7 8 9 10 11 12 2848.1 3205.1 3594.5 4144.9 4602.8 4700.8 4816.3 4939.8 5044.6 5267.9 5435.1 12 13 14 15 Total assets Household sector State and local governments Rest of the world (2) 415.3 39.0 369.5 486.7 49.7 453.2 519.1 51.0 537.8 602.6 61.2 660.0 617.8 73.8 820.8 607.1 75.3 865.4 663.5 76.5 907.6 646.9 76.9 954.0 631.7 77.5 1003.9 688.1 80.4 1073.9 660.1 82.2 1143.8 13 14 15 16 17 18 Commercial banking Savings institutions Bank personal trusts and estates 110.9 78.5 33.6 112.3 68.6 31.9 143.1 58.7 31.1 181.1 88.6 28.5 219.9 112.0 39.8 214.1 115.7 41.8 219.0 110.6 43.5 253.5 107.3 45.4 277.5 109.5 48.0 290.5 96.0 50.5 326.1 93.1 53.6 16 17 18 19 20 21 22 Life insurance companies Other insurance companies Private pension funds State and local govt. retirement funds 870.1 123.3 242.0 189.2 949.3 141.6 244.9 211.4 1046.0 159.5 278.7 244.5 1130.4 171.1 295.8 279.6 1173.2 181.1 305.1 310.0 1192.5 182.3 308.4 325.3 1198.2 183.3 311.0 318.5 1212.2 186.2 317.3 327.9 1222.2 187.5 319.7 339.7 1252.0 189.7 328.3 346.6 1280.3 191.2 338.8 352.0 19 20 21 22 23 24 25 Money market mutual funds Mutual funds Closed-end funds 21.5 195.7 25.5 23.9 229.5 28.6 36.4 273.8 28.1 81.2 339.3 32.6 123.7 368.6 32.6 143.6 363.9 31.7 134.6 366.0 30.8 153.9 368.3 30.0 161.9 367.3 29.1 161.6 381.8 28.2 159.9 397.4 27.3 23 24 25 26 27 28 29 Government-sponsored enterprises REITs Brokers and dealers Funding corporations 31.0 2.9 76.4 23.8 41.8 4.3 90.9 36.5 47.1 6.5 100.0 33.1 67.8 6.1 81.4 37.6 91.5 5.7 93.4 33.8 94.2 5.6 110.0 23.8 106.5 6.4 109.1 31.1 113.9 5.7 116.6 23.9 117.3 5.3 112.7 33.9 125.2 7.4 124.0 43.6 138.8 5.2 132.0 53.3 26 27 28 29 (1) Holdings of foreign issues by U.S. residents. (2) Holdings of U.S. issues by foreign residents. 90 Z.1, September 18, 2001 L.213 Corporate Equities (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 1997 1998 1999 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 8495.7 10255.8 13202.0 15492.5 19494.5 20147.0 19180.8 18991.5 17068.8 14920.9 15863.6 1 2 Nonfinancial corporate business 6435.0 7618.6 9674.9 11521.8 15030.3 15598.4 14723.5 14200.9 12243.1 10599.0 11315.7 2 3 4 Rest of the world (2) Financial corporations 776.8 1284.0 1002.9 1634.3 1207.8 2319.3 1476.2 2494.5 2026.6 2437.5 2057.4 2491.2 2010.9 2446.5 1854.0 2936.6 1787.0 3038.7 1574.0 2747.9 1610.7 2937.2 3 4 5 6 7 8 Issues at market value 1996 Holdings at market value Household sector State and local governments Rest of the world (3) 8495.7 10255.8 13202.0 15492.5 19494.5 20147.0 19180.8 18991.5 17068.8 14920.9 15863.6 5 4182.9 26.2 527.6 4872.3 46.8 656.8 6209.5 79.0 919.5 7190.4 102.0 1175.1 9284.7 115.0 1537.8 9409.8 113.2 1598.2 8688.9 115.0 1620.4 8305.2 117.6 1724.9 7042.9 115.1 1748.3 5942.6 108.6 1626.5 6295.6 118.6 1732.2 6 7 8 5.0 14.3 224.9 6.8 17.8 248.9 2.6 23.3 321.0 6.8 24.5 314.0 10.4 23.8 338.3 10.5 23.7 345.1 10.5 24.2 323.8 11.8 24.4 318.6 11.0 24.2 280.0 7.7 24.6 239.8 8.8 25.6 251.9 9 10 11 9 10 11 Commercial banking Savings institutions Bank personal trusts and estates 12 13 14 15 Life insurance companies Other insurance companies Private pension funds State and local govt. retirement funds 315.4 134.2 1289.2 678.9 414.1 148.6 1463.9 828.5 558.6 186.0 1696.4 1084.8 733.2 200.1 1902.2 1233.9 964.5 207.9 2156.9 1343.2 1027.6 205.3 2231.2 1331.0 1007.8 203.9 2153.2 1322.5 1023.3 199.4 2158.3 1360.9 940.8 194.3 2001.1 1344.6 873.2 172.2 1793.9 1220.7 955.1 184.7 1862.6 1275.2 12 13 14 15 16 17 18 Mutual funds Closed-end funds Brokers and dealers 1024.9 38.2 34.2 1470.0 43.6 37.9 2018.7 50.7 51.9 2508.5 47.3 54.4 3400.0 45.2 66.9 3730.2 46.8 74.4 3591.3 44.7 74.5 3620.9 44.8 81.5 3250.8 40.1 75.3 2797.6 35.2 78.3 3025.6 37.8 89.8 16 17 18 7507.4 9016.0 11702.9 13707.7 17137.5 17752.6 16836.3 16800.2 14961.0 13053.5 13931.8 19 Memo: 19 Market value of domestic corporations (4) (1) Excludes mutual fund shares shown on table L.214. (2) Holdings of foreign issues by U.S. residents; includes American Depositary Receipts (ADRs). (3) Holdings of U.S. issues by foreign residents. (4) Sum of lines 2 and 4 less the sum of lines 9, 13, 17, 18; line 1 excludes intercorporate holdings of nonfinancial corporations. L.214 Mutual Fund Shares Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Shares at market value 1852.8 2342.4 2989.4 3610.5 4553.4 4863.3 4759.6 4814.4 4457.2 3999.8 4269.9 1 2 Holdings at market value 1852.8 2342.4 2989.4 3610.5 4553.4 4863.3 4759.6 4814.4 4457.2 3999.8 4269.9 2 3 4 5 Household sector Nonfinancial corporate business State and local governments 1158.9 45.7 35.0 1495.4 59.9 41.0 1941.2 69.1 33.6 2362.0 91.0 21.3 3066.3 113.9 25.6 3302.7 117.5 22.9 3240.1 111.4 24.3 3279.5 111.0 25.4 3043.2 98.8 26.4 2739.3 85.9 28.8 2929.6 91.6 30.7 3 4 5 6 7 8 Commercial banking Credit unions Bank personal trusts and estates 2.3 2.8 253.5 2.6 2.6 293.2 8.1 2.4 326.9 9.2 3.6 390.8 11.1 2.5 460.6 12.4 3.2 475.8 12.2 2.3 449.2 12.5 2.2 441.3 13.8 2.2 387.0 15.9 2.0 333.4 16.0 3.6 352.2 6 7 8 Life insurance companies Private pension funds 27.7 326.8 35.3 412.3 38.4 569.6 23.3 709.3 43.3 830.1 47.8 881.1 48.6 871.5 51.1 891.4 48.1 837.6 42.6 752.0 46.1 800.0 9 10 9 10 91 Z.1, September 18, 2001 L.215 Bank Loans Not Elsewhere Classified Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1996 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 1 Total loans by commercial banking, flow of funds basis 2646.9 2821.1 3052.9 3304.8 3504.9 3602.1 3736.9 3801.9 3875.3 3909.0 3899.2 1 2 3 4 5 - Loans elsewhere classified: Open market paper Mortgages Consumer credit Security credit 5.7 1090.2 502.0 99.5 6.5 1145.4 526.8 100.8 2.7 1245.3 512.6 122.5 1.1 1337.0 508.9 142.9 1.4 1495.2 499.8 124.8 1.4 1546.5 497.1 143.4 1.4 1614.1 506.2 150.6 1.3 1648.1 521.8 159.0 1.5 1659.3 541.5 175.2 0.6 1688.1 533.7 191.6 0.0 1723.1 540.2 173.0 2 3 4 5 6 = Banking sector total bank loans n.e.c. 949.6 1041.7 1169.8 1314.9 1383.8 1413.7 1464.6 1471.7 1497.9 1495.1 1462.9 6 701.6 232.6 2.3 13.1 759.8 264.8 2.5 14.6 867.9 284.0 2.4 15.5 1012.2 282.2 4.1 16.3 1104.4 259.9 2.6 16.9 1131.9 262.2 1.9 17.8 1178.7 263.9 4.0 18.0 1186.5 265.1 1.8 18.4 1202.6 275.7 1.6 18.0 1197.5 276.8 2.7 18.1 1179.3 262.5 2.7 18.4 7 8 9 10 7 8 9 10 U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies Banks in U.S.-affiliated areas 11 + Loans from Federal Reserve banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11 12 = Total bank loans n.e.c. 949.6 1041.7 1169.8 1314.9 1383.8 1413.7 1464.6 1471.7 1497.9 1495.1 1462.9 12 13 Total liabilities 949.6 1041.7 1169.8 1314.9 1383.8 1413.7 1464.6 1471.7 1497.9 1495.1 1462.9 13 898.2 977.7 1092.7 1207.6 1290.9 1322.3 1371.1 1379.2 1405.3 1398.0 1362.6 14 57.4 601.8 164.7 39.7 58.0 642.1 193.6 40.4 66.6 692.7 237.3 43.9 72.9 774.5 256.3 45.1 65.7 847.5 274.2 44.2 69.6 868.3 278.7 42.4 70.9 902.5 287.1 45.9 67.5 909.0 288.9 46.2 73.9 921.8 292.0 46.9 63.5 923.2 292.2 45.1 60.0 900.4 287.2 47.8 15 16 17 18 34.6 2.6 10.9 21.1 43.7 2.9 14.3 26.5 52.1 2.1 13.8 36.3 58.9 2.8 13.1 43.0 59.4 3.0 10.0 46.5 63.3 2.8 11.4 49.1 64.7 3.1 12.0 49.5 67.7 3.6 12.6 51.5 70.7 3.5 13.2 54.0 73.9 3.6 16.2 54.1 67.2 3.3 9.2 54.8 19 20 21 22 51.4 64.0 77.2 107.2 92.9 91.4 93.6 92.5 92.6 97.1 100.3 23 14.6 15.3 16.5 5.0 15.9 19.7 20.6 7.8 19.4 24.1 16.0 17.6 29.7 26.3 17.7 33.6 14.0 35.1 17.8 26.0 20.4 28.5 17.1 25.5 21.3 33.3 17.8 21.2 20.8 35.4 17.7 18.6 21.5 35.6 17.9 17.7 22.6 41.4 18.1 15.0 21.7 45.2 18.2 15.2 24 25 26 27 14 Nonfinancial sectors 15 16 17 18 Households Corporate business Nonfarm noncorporate business Farm business 19 20 21 22 Rest of the world Foreign official institutions Foreign banks Other foreign 23 24 25 26 27 Financial sectors Savings institutions Finance companies Mortgage companies REITs 92 Z.1, September 18, 2001 L.216 Other Loans and Advances Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1996 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 1 Total other loans and advances 935.4 998.0 1101.0 1259.6 1422.1 1476.2 1538.5 1533.6 1578.6 1594.6 1618.1 1 2 3 4 5 6 7 8 9 U.S. government loans Liab.: Household sector Nonfinancial corporate business Nonfarm noncorporate business Farm business State and local governments Rest of the world Government-sponsored enterprises 148.8 27.3 10.0 39.4 7.0 9.8 55.4 0.0 149.0 30.4 8.7 39.1 5.9 10.1 54.8 0.0 158.8 41.8 8.4 40.9 5.5 8.9 53.3 0.0 173.3 52.4 8.3 44.8 5.1 10.1 52.4 0.0 179.3 65.0 8.0 43.9 4.9 9.7 47.8 0.0 181.9 68.1 7.9 43.9 4.9 9.3 47.9 0.0 183.8 70.7 7.7 43.5 4.9 8.9 48.0 0.0 185.3 73.5 7.6 43.2 4.9 8.6 47.4 0.0 187.6 76.2 7.6 42.8 5.0 8.7 47.3 0.0 189.4 78.8 7.6 42.2 5.0 8.8 46.9 0.0 191.9 81.8 7.3 41.6 5.1 8.9 47.1 0.0 2 3 4 5 6 7 8 9 10 11 Foreign loans to U.S. corporate business Liab.: Nonfinancial corporate business 122.1 122.1 126.0 126.0 143.3 143.3 142.3 142.3 119.5 119.5 120.8 120.8 124.8 124.8 112.4 112.4 117.3 117.3 114.9 114.9 121.0 121.0 10 11 12 13 14 Customers’ liability on acceptances outstanding (bank asset) Liab.: Nonfinancial corporate business Rest of the world 22.3 14.2 8.2 23.4 13.4 9.9 20.6 10.8 9.7 11.3 6.6 4.7 8.2 4.4 3.9 8.7 4.9 3.8 9.0 4.9 4.1 8.4 4.6 3.8 7.5 4.3 3.1 7.4 6.6 0.8 6.6 5.8 0.8 12 13 14 15 16 17 Savings institution loans to business Liab.: Nonfinancial corporate business Nonfarm noncorporate business 12.8 6.4 6.4 15.7 7.9 7.9 18.8 9.4 9.4 24.2 12.1 12.1 30.7 15.3 15.3 33.4 16.7 16.7 35.4 17.7 17.7 37.9 19.0 19.0 39.3 19.7 19.7 41.4 20.7 20.7 43.8 21.9 21.9 15 16 17 18 19 20 Policy loans (Household liability) Asset: Federal government Life insurance companies 96.9 0.9 95.9 101.4 1.0 100.5 104.6 1.0 103.7 104.7 0.9 103.8 100.0 0.9 99.0 99.6 0.9 98.7 100.5 0.9 99.6 102.0 0.9 101.1 102.8 0.9 101.9 103.8 0.9 102.9 104.0 0.9 103.1 18 19 20 21 22 23 24 25 26 27 28 Government-sponsored enterprise loans 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) 200.3 35.2 16.4 13.8 36.7 97.4 0.4 0.5 229.1 34.6 15.1 16.5 39.0 121.9 0.4 1.6 260.3 30.2 15.1 16.5 58.1 138.0 0.6 1.8 352.6 29.0 17.8 17.1 104.9 180.1 1.1 2.5 466.2 34.5 17.9 17.9 145.6 243.7 3.4 3.2 472.9 32.3 17.1 19.1 155.0 243.8 2.6 3.0 505.4 31.7 18.2 18.6 174.6 256.7 2.9 2.7 503.5 35.9 18.9 18.5 172.6 251.8 3.1 2.7 514.6 37.4 19.4 19.5 172.4 260.0 3.4 2.5 527.9 38.0 19.4 19.6 176.1 269.7 3.2 1.9 530.1 39.2 20.9 19.2 179.0 266.4 3.5 1.9 21 22 23 24 25 26 27 28 29 30 31 Securitized loans held by ABS issuers Liab.: Households (1) Nonfinancial corporate business 30.6 1.0 29.6 44.0 6.3 37.7 76.2 14.1 62.1 103.8 17.9 85.9 113.0 19.4 93.6 124.3 22.8 101.5 125.4 24.5 100.9 128.3 30.7 97.6 138.3 29.9 108.4 138.1 30.5 107.6 139.3 30.5 108.9 29 30 31 32 33 34 Finance company loans to business Liab.: Nonfinancial corporate business Nonfarm noncorporate business 301.6 271.4 30.2 309.5 278.5 30.9 318.5 286.7 31.9 347.5 312.8 34.8 405.2 364.6 40.5 434.6 391.1 43.5 454.1 408.7 45.4 455.7 410.2 45.6 471.1 424.0 47.1 471.7 424.5 47.2 481.5 433.3 48.1 32 33 34 (1) Student loans. 93 Z.1, September 18, 2001 L.217 Total Mortgages Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 2 3 4 5 6 Total mortgages Home Multifamily residential Commercial Farm 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 4576.6 4861.9 5194.4 5705.3 6340.7 6452.7 6622.0 6773.4 6913.9 7037.8 7250.4 1 3507.9 273.0 711.4 84.2 3717.1 288.7 769.1 86.9 3969.7 301.3 833.4 90.0 4353.9 333.3 921.5 96.6 4783.5 377.9 1077.0 102.3 4858.0 386.2 1104.3 104.2 4982.3 399.3 1133.7 106.8 5100.0 407.2 1157.9 108.3 5200.7 417.7 1186.2 109.3 5293.5 427.2 1206.6 110.4 5449.7 442.6 1245.3 112.7 2 3 4 5 4576.6 4861.9 5194.4 5705.3 6340.7 6452.7 6622.0 6773.4 6913.9 7037.8 7250.4 6 Household sector 3475.0 3671.4 3904.6 4259.6 4653.8 4719.6 4833.5 4943.7 5034.1 5116.3 5265.8 7 8 9 10 11 Nonfinancial business Corporate Nonfarm noncorporate Farm 1077.5 188.3 805.0 84.2 1158.5 228.4 843.2 86.9 1243.0 262.1 890.9 90.0 1374.1 278.9 998.6 96.6 1610.2 379.6 1128.3 102.3 1654.7 396.0 1154.5 104.2 1707.5 412.4 1188.3 106.8 1747.2 423.0 1215.9 108.3 1796.8 442.6 1245.0 109.3 1840.4 454.9 1275.1 110.4 1899.5 478.6 1308.2 112.7 8 9 10 11 12 13 Federal government REITs 0.0 24.1 0.0 31.9 0.0 46.8 0.0 71.6 0.0 76.7 0.0 78.5 0.0 81.0 0.0 82.5 0.0 82.9 0.0 81.1 0.0 85.1 12 13 4576.6 4861.9 5194.4 5705.3 6340.7 6452.7 6622.0 6773.4 6913.9 7037.8 7250.4 14 7 14 Total liabilities 1996 Total assets 15 16 17 Household sector Nonfinancial corporate business Nonfarm noncorporate business 109.5 57.9 21.7 109.5 54.4 20.4 109.6 80.2 18.7 110.5 67.3 30.7 110.2 60.3 40.7 111.2 59.0 42.7 111.5 57.8 46.5 111.7 56.5 47.0 111.8 55.3 48.6 111.9 54.0 50.1 111.7 52.8 51.5 15 16 17 18 19 State and local governments Federal government 113.8 57.5 117.6 50.3 121.3 45.7 125.4 44.9 129.8 77.7 130.9 76.8 132.0 76.8 133.1 76.5 134.3 76.9 135.4 76.3 136.6 76.2 18 19 20 21 22 23 Commercial banking Savings institutions (1) Credit unions Bank personal trusts and estates 1090.2 596.8 66.5 3.3 1145.4 628.3 76.0 3.6 1245.3 631.8 86.0 3.0 1337.0 644.0 96.9 2.8 1495.2 668.6 111.0 2.2 1546.5 682.4 114.1 2.2 1614.1 703.5 119.1 2.2 1648.1 723.1 124.0 2.1 1659.3 723.8 127.4 2.1 1688.1 741.4 126.1 2.0 1723.1 751.7 130.3 2.0 20 21 22 23 24 25 26 27 Life insurance companies Other insurance companies Private pension funds State and local govt. retirement funds 213.1 2.8 8.4 15.9 208.2 2.4 9.0 16.7 206.8 2.2 9.7 17.6 213.6 2.0 11.5 24.1 230.8 1.9 13.5 21.5 229.4 2.5 14.0 21.7 232.6 1.8 14.3 21.0 234.7 1.7 14.8 21.5 235.9 1.6 15.1 21.5 235.1 1.6 15.5 22.1 236.1 1.6 15.8 22.8 24 25 26 27 28 29 30 Government-sponsored enterprises (1) Federally related mortgage pools ABS issuers 251.0 1570.3 278.2 244.9 1711.3 326.3 240.5 1825.8 407.0 248.7 2018.4 563.5 244.4 2292.2 655.5 246.1 2322.1 669.1 255.7 2355.2 687.7 260.1 2414.3 708.6 267.1 2491.6 740.7 270.0 2534.2 769.5 279.1 2635.8 814.4 28 29 30 31 32 33 Finance companies Mortgage companies REITs 72.4 33.0 14.1 82.7 41.2 13.8 87.9 32.1 22.9 102.3 35.3 26.3 126.5 35.6 23.0 128.8 34.1 19.2 136.2 35.5 18.6 142.4 35.4 17.8 148.3 35.9 16.8 151.8 36.2 16.3 157.1 36.5 15.3 31 32 33 (1) FHLB loans to savings institutions are included in other loans and advances. 94 Z.1, September 18, 2001 L.218 Home Mortgages (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 2 3 4 5 Total liabilities Household sector Nonfinancial corporate business Nonfarm noncorporate business 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 3507.9 3717.1 3969.7 4353.9 4783.5 4858.0 4982.3 5100.0 5200.7 5293.5 5449.7 1 3383.0 6.9 118.0 3574.9 7.8 134.4 3809.5 8.0 152.2 4155.2 9.4 189.4 4538.9 11.5 233.0 4604.9 12.0 241.1 4717.7 12.6 252.0 4824.4 13.2 262.4 4916.2 13.5 271.0 4997.5 14.4 281.7 5143.2 15.0 291.5 2 3 4 3507.9 3717.1 3969.7 4353.9 4783.5 4858.0 4982.3 5100.0 5200.7 5293.5 5449.7 5 Household sector Nonfinancial corporate business Nonfarm noncorporate business 88.8 33.8 8.2 87.6 24.5 7.6 86.5 29.8 7.0 85.3 27.1 11.5 84.2 25.6 15.3 83.9 25.4 16.0 83.7 25.1 17.4 83.4 24.9 17.6 83.2 24.6 18.2 82.9 24.3 18.8 82.7 24.1 19.3 6 7 8 9 10 State and local governments Federal government 60.5 24.2 62.8 21.2 65.8 19.1 69.1 18.8 72.6 18.4 73.5 18.3 74.4 18.3 75.3 17.8 76.3 17.7 77.2 17.6 78.2 17.4 9 10 11 12 13 14 Commercial banking Savings institutions Credit unions Bank personal trusts and estates 646.5 482.4 66.5 3.3 677.6 513.7 76.0 3.6 745.5 520.7 86.0 3.0 796.6 533.4 96.9 2.8 878.7 548.5 111.0 2.2 903.8 559.6 114.1 2.2 948.2 578.5 119.1 2.2 967.5 595.0 124.0 2.1 965.2 594.6 127.4 2.1 977.8 607.8 126.1 2.0 996.9 615.8 130.3 2.0 11 12 13 14 15 16 17 Life insurance companies Private pension funds State and local govt. retirement funds 8.9 4.4 4.4 7.0 5.0 5.0 7.2 5.7 5.6 6.6 7.0 8.4 5.9 8.5 7.5 5.6 8.9 7.6 5.2 9.2 7.4 4.9 9.6 7.5 4.9 10.0 7.5 4.9 10.3 7.7 4.9 10.7 8.0 15 16 17 18 19 20 Government-sponsored enterprises Federally related mortgage pools ABS issuers 205.2 1543.4 224.3 198.5 1678.8 256.2 194.3 1788.1 310.7 199.6 1970.2 405.2 189.3 2234.7 455.0 189.8 2263.0 463.5 197.6 2294.1 471.9 200.5 2351.4 484.6 205.1 2425.6 499.8 206.3 2464.9 523.3 211.9 2561.8 539.2 18 19 20 21 22 23 Finance companies Mortgage companies REITs 72.4 23.8 6.9 52.1 32.0 8.0 59.0 21.8 14.0 75.7 24.9 14.8 88.3 25.2 12.4 90.4 23.7 8.8 96.6 25.1 8.3 100.9 24.9 8.0 105.4 25.4 7.9 108.1 25.8 7.8 112.9 26.0 7.6 21 22 23 289.3 140.0 50.5 22.9 33.1 42.7 335.3 153.8 52.3 25.5 51.6 52.1 407.6 174.0 55.5 29.0 90.2 59.0 462.5 176.9 55.9 29.7 124.2 75.7 512.8 189.5 59.8 33.4 141.9 88.3 531.7 199.7 62.3 35.7 143.5 90.4 559.6 212.8 64.9 37.7 147.6 96.6 582.0 223.5 68.4 40.0 149.2 100.9 605.2 234.8 72.9 40.7 151.5 105.4 620.2 235.6 73.3 41.4 161.9 108.1 642.7 245.4 76.8 42.2 165.3 113.0 24 25 26 27 28 29 6 7 8 24 25 26 27 28 29 Total assets 1996 Memo: Home equity loans included above (2) Commercial banking Savings institutions Credit unions ABS issuers Finance companies (1) Mortgages on 1-4 family properties. (2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by mortgage companies and individuals. L.219 Multifamily Residential Mortgages Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total liabilities 2 3 Nonfinancial corporate business Nonfarm noncorporate business 4 5 Federal government REITs 6 7 8 9 Total assets Household sector Nonfinancial corporate business Nonfarm noncorporate business 273.0 288.7 301.3 333.3 377.9 386.2 399.3 407.2 417.7 427.2 442.6 1 21.1 244.0 21.7 256.5 22.5 263.3 23.5 286.1 24.7 327.8 25.1 335.2 25.4 347.2 25.7 354.3 25.9 364.4 26.2 374.2 26.5 387.9 2 3 0.0 7.9 0.0 10.5 0.0 15.4 0.0 23.6 0.0 25.3 0.0 25.9 0.0 26.7 0.0 27.2 0.0 27.4 0.0 26.7 0.0 28.1 4 5 273.0 288.7 301.3 333.3 377.9 386.2 399.3 407.2 417.7 427.2 442.6 6 1.6 0.1 7.2 1.5 0.8 6.8 1.5 1.4 6.2 1.5 1.1 10.2 1.4 0.9 13.5 1.4 0.9 14.2 1.4 0.9 15.4 1.4 0.8 15.6 1.4 0.8 16.1 1.4 0.8 16.6 1.4 0.7 17.1 7 8 9 10 11 State and local governments Federal government 44.1 17.7 45.9 14.8 46.5 13.9 47.4 13.6 48.3 13.6 48.6 13.7 48.8 13.8 49.1 13.8 49.3 13.9 49.6 13.3 49.8 13.4 10 11 12 13 Commercial banking Savings institutions 42.5 62.0 45.5 61.6 49.7 59.5 52.9 57.0 66.0 59.4 70.8 58.0 75.7 59.4 76.9 60.3 77.7 61.3 79.8 62.9 80.4 63.4 12 13 14 15 16 Life insurance companies Private pension funds State and local govt. retirement funds 28.7 1.0 4.5 30.8 1.0 4.7 30.4 1.0 5.0 31.5 1.1 6.7 32.8 1.2 6.0 32.7 1.3 6.1 33.2 1.3 5.9 33.5 1.3 6.0 33.7 1.3 6.0 33.6 1.3 6.2 33.6 1.3 6.4 14 15 16 17 18 19 Government-sponsored enterprises Federally related mortgage pools ABS issuers 19.0 26.9 11.9 18.6 32.5 15.9 17.3 37.8 20.9 18.1 48.3 33.8 22.9 57.5 42.2 24.2 59.1 43.1 25.3 61.0 44.4 26.2 63.0 46.1 27.8 66.0 49.5 28.8 69.3 50.7 30.7 74.1 57.0 17 18 19 20 21 22 Finance companies Mortgage companies REITs 0.0 4.2 1.6 3.1 4.1 1.2 2.9 5.2 2.1 2.7 5.3 2.1 5.1 5.3 1.6 5.6 5.3 1.4 5.9 5.3 1.6 6.2 5.3 1.5 6.1 5.4 1.3 6.3 5.4 1.2 6.7 5.4 1.2 20 21 22 95 Z.1, September 18, 2001 L.220 Commercial Mortgages Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 2 3 4 5 6 7 8 9 Total liabilities Household sector Nonfinancial corporate business Nonfarm noncorporate business REITs Total assets Household sector Nonfinancial corporate business Nonfarm noncorporate business 1996 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 711.4 769.1 833.4 921.5 1077.0 1104.3 1133.7 1157.9 1186.2 1206.6 1245.3 1 91.9 160.3 443.0 16.1 96.6 198.9 452.3 21.4 95.1 231.6 475.4 31.4 104.4 246.0 523.1 48.0 114.8 343.3 567.4 51.4 114.7 358.9 578.1 52.6 115.8 374.4 589.1 54.2 119.3 384.1 599.3 55.3 117.9 403.1 609.6 55.6 118.8 414.3 619.2 54.3 122.6 437.1 628.7 57.0 2 3 4 5 711.4 769.1 833.4 921.5 1077.0 1104.3 1133.7 1157.9 1186.2 1206.6 1245.3 6 3.7 24.0 5.7 4.4 29.1 5.3 5.1 49.1 4.9 6.0 39.1 8.0 6.7 33.7 10.6 6.8 32.8 11.1 7.0 31.8 12.1 7.1 30.8 12.3 7.3 29.9 12.7 7.5 28.9 13.1 7.6 27.9 13.4 7 8 9 7.7 9.4 7.5 8.5 7.7 7.8 7.6 7.9 7.5 41.5 7.4 40.6 7.4 40.6 7.4 40.7 7.4 41.1 7.3 41.3 7.3 41.3 10 11 10 11 State and local governments Federal government 12 13 Commercial banking Savings institutions 377.3 52.1 397.5 52.7 423.1 51.3 458.5 53.1 518.6 60.3 539.2 64.3 556.4 65.1 569.8 67.3 582.4 67.4 596.2 70.2 610.6 71.9 12 13 14 15 16 17 Life insurance companies Other insurance companies Private pension funds State and local govt. retirement funds 165.9 2.8 3.0 7.0 160.3 2.4 3.0 7.0 158.8 2.2 3.0 7.0 164.0 2.0 3.4 8.9 179.0 1.9 3.7 8.0 178.2 2.5 3.8 8.0 180.9 1.8 3.8 7.8 182.6 1.7 3.9 7.9 183.8 1.6 3.9 8.0 183.1 1.6 3.9 8.2 184.1 1.6 3.8 8.4 14 15 16 17 18 19 20 21 22 Federally related mortgage pools ABS issuers Finance companies Mortgage companies REITs 0.0 41.9 0.0 5.1 5.6 0.0 54.2 27.4 5.1 4.6 0.0 75.4 26.0 5.1 6.9 0.0 124.6 23.9 5.1 9.4 0.0 158.3 33.2 5.1 9.0 0.0 162.6 32.8 5.1 9.0 0.0 171.4 33.7 5.1 8.7 0.0 177.8 35.3 5.1 8.2 0.0 191.4 36.9 5.1 7.6 0.0 195.5 37.4 5.1 7.4 0.0 218.3 37.4 5.1 6.5 18 19 20 21 22 L.221 Farm Mortgages Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total liabilities (Farm business) 84.2 86.9 90.0 96.6 102.3 104.2 106.8 108.3 109.3 110.4 112.7 1 2 Total assets 84.2 86.9 90.0 96.6 102.3 104.2 106.8 108.3 109.3 110.4 112.7 2 15.3 0.7 15.9 0.7 16.5 0.6 17.7 1.0 17.9 1.3 19.0 1.4 19.4 1.5 19.7 1.5 19.9 1.6 20.1 1.6 20.0 1.6 3 4 1.4 6.2 1.4 5.8 1.4 4.9 1.4 4.5 1.4 4.3 1.4 4.2 1.4 4.2 1.4 4.2 1.4 4.1 1.4 4.1 1.4 4.1 5 6 23.8 0.3 24.9 0.3 27.0 0.4 29.0 0.4 31.8 0.5 32.7 0.5 33.7 0.5 33.9 0.5 34.0 0.5 34.3 0.6 35.2 0.6 7 8 9.7 0.0 10.1 0.0 10.5 0.0 11.5 0.0 13.0 0.0 13.0 0.0 13.4 0.0 13.7 0.0 13.6 0.0 13.5 0.0 13.5 0.0 9 10 26.8 0.0 27.9 0.0 28.9 0.0 31.0 0.0 32.2 0.0 32.1 0.0 32.8 0.0 33.5 0.0 34.2 0.0 34.9 0.0 36.4 0.0 11 12 3 4 Household sector Nonfarm noncorporate business 5 6 State and local governments Federal government 7 8 Commercial banking Savings institutions 9 10 Life insurance companies State and local govt. retirement funds 11 12 Government-sponsored enterprises Federally related mortgage pools 96 Z.1, September 18, 2001 L.222 Consumer Credit Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1996 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 1 Total liabilities (Households) 1122.8 1211.6 1264.1 1331.7 1426.2 1416.0 1454.0 1495.3 1566.5 1558.6 1581.1 1 2 Total assets 1122.8 1211.6 1264.1 1331.7 1426.2 1416.0 1454.0 1495.3 1566.5 1558.6 1581.1 2 85.1 0.0 77.7 0.0 78.9 0.0 74.9 0.0 80.3 0.0 72.9 0.0 73.5 0.0 72.1 0.0 82.7 0.0 71.4 0.0 68.0 0.0 3 4 3 4 Nonfinancial corporate business Nonfarm noncorporate business 5 6 7 Commercial banking Savings institutions Credit unions 502.0 40.1 131.9 526.8 44.7 144.1 512.6 47.2 152.4 508.9 51.6 155.4 499.8 61.5 167.9 497.1 59.0 169.2 506.2 61.0 176.0 521.8 62.5 181.3 541.5 64.6 184.4 533.7 65.5 182.9 540.2 65.3 187.0 5 6 7 8 9 ABS issuers Finance companies 211.6 152.1 265.8 152.4 313.1 160.0 372.4 168.5 435.1 181.6 434.0 183.7 447.0 190.3 460.3 197.3 500.1 193.2 519.2 185.9 529.5 191.0 8 9 L.223 Trade Credit Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 1704.3 1827.6 1967.3 2076.5 2298.8 2321.7 2366.9 2412.0 2455.2 2425.2 2418.3 1 2 Household sector 101.1 109.1 118.0 126.8 132.7 134.5 136.3 137.7 138.6 140.4 141.5 2 3 4 5 Nonfinancial corporate business Nonfarm noncorporate business Farm business 877.5 86.2 16.2 927.0 116.8 17.4 992.1 147.8 18.8 1049.7 170.9 19.6 1194.1 196.4 20.0 1197.6 202.9 19.2 1215.6 211.2 20.8 1255.1 214.8 20.9 1286.2 218.8 20.9 1250.3 222.0 20.1 1233.2 224.8 21.5 3 4 5 6 7 State and local governments Federal government 486.7 81.1 517.6 81.8 549.0 72.9 579.5 64.9 608.6 65.6 616.9 67.0 623.2 67.5 629.6 68.3 635.9 66.7 642.1 64.3 648.4 62.0 6 7 8 9 Rest of the world Brokers and dealers 45.3 10.3 43.6 14.3 48.7 19.9 46.3 18.9 50.6 30.9 50.0 33.7 53.0 39.4 49.8 35.9 52.1 35.9 50.7 35.3 53.6 33.3 8 9 1512.3 1661.9 1840.5 2000.0 2177.9 2271.6 2354.1 2409.5 2366.5 2383.2 2402.3 10 1184.9 140.3 1273.1 169.8 1366.6 204.9 1452.9 245.6 1566.3 291.4 1639.0 301.6 1688.8 321.2 1725.9 325.5 1669.0 332.2 1667.1 337.2 1679.1 340.7 11 12 10 Total trade payables Total trade receivables 11 12 Nonfinancial corporate business Nonfarm noncorporate business 13 14 Federal government Rest of the world 23.1 51.0 24.0 57.1 20.8 60.3 22.3 51.7 22.9 46.8 25.4 46.4 26.9 47.4 27.7 49.6 28.1 52.5 31.7 54.1 31.9 53.0 13 14 15 16 Other insurance companies ABS issuers 57.3 55.7 57.2 80.7 59.9 128.1 61.5 165.9 63.6 187.0 66.1 193.1 67.2 202.7 68.7 212.2 64.6 220.0 67.6 225.5 68.6 229.0 15 16 192.0 165.7 126.8 76.6 120.9 50.1 12.8 2.5 88.7 42.1 16.0 17 17 Discrepancy L.224 Security Credit Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total liabilities 2 3 Household sector Rest of the world 4 5 6 7 Brokers and dealers Customer credit balances (HH) From U.S.-chartered commercial banks From foreign banking offices in U.S. 8 Total assets 9 10 Household sector Rest of the world 11 12 Commercial banking Brokers and dealers 305.7 358.1 469.1 572.3 676.6 795.4 775.5 800.4 817.6 799.4 781.8 1 78.6 0.0 94.4 0.0 131.2 0.0 152.8 0.0 227.9 0.0 282.4 0.0 267.8 0.0 271.4 0.0 233.7 0.0 195.8 0.0 195.9 0.0 2 3 227.1 127.6 65.1 34.4 263.7 162.9 60.2 40.6 337.9 215.5 64.4 58.0 419.6 276.7 76.3 66.6 448.7 323.9 67.6 57.2 513.0 369.6 76.5 66.8 507.8 357.2 70.5 80.1 529.0 370.0 67.5 91.5 583.9 408.7 74.7 100.5 603.6 412.0 82.2 109.4 585.8 412.8 83.7 89.3 4 5 6 7 305.7 358.1 469.1 572.3 676.6 795.4 775.5 800.4 817.6 799.4 781.8 8 127.6 0.0 162.9 0.0 215.5 0.0 276.7 0.0 323.9 0.0 369.6 0.0 357.2 0.0 370.0 0.0 408.7 0.0 412.0 0.0 412.8 0.0 9 10 99.5 78.6 100.8 94.4 122.5 131.2 142.9 152.8 124.8 227.9 143.4 282.4 150.6 267.8 159.0 271.4 175.2 233.7 191.6 195.8 173.0 195.9 11 12 97 Z.1, September 18, 2001 L.225 Life Insurance and Pension Fund Reserves Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1996 1997 1998 1999 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 Life insurance reserves: 1 Total liabilities 566.2 610.6 665.0 718.3 783.9 801.0 806.5 818.7 819.1 823.0 844.6 1 2 3 Federal government Life insurance companies 29.9 536.3 30.5 580.1 32.3 632.7 33.6 684.7 35.0 748.9 35.2 765.7 35.9 770.6 36.0 782.7 36.4 782.7 36.6 786.5 37.1 807.5 2 3 4 Total assets (Households) 566.2 610.6 665.0 718.3 783.9 801.0 806.5 818.7 819.1 823.0 844.6 4 5671.3 6325.1 7323.4 8193.7 9041.7 9237.9 9166.7 9307.9 9054.8 8603.5 8885.5 5 506.3 880.6 561.4 953.9 601.7 1086.1 642.9 1209.9 684.0 1367.3 673.0 1414.2 683.3 1403.2 697.4 1424.9 704.9 1373.8 713.3 1335.8 724.9 1405.1 6 7 2964.0 1320.4 3295.2 1514.6 3793.6 1842.0 4255.4 2085.4 4728.0 2262.3 4877.9 2272.8 4799.4 2280.8 4853.3 2332.4 4644.6 2331.5 4342.5 2211.9 4481.1 2274.4 8 9 5671.3 6325.1 7323.4 8193.7 9041.7 9237.9 9166.7 9307.9 9054.8 8603.5 8885.5 10 Pension fund reserves: 5 Total liabilities 6 7 Federal government (1) Life insurance companies 8 9 Private pension funds (2) State and local govt. retirement funds 10 Total assets (Households) (3) (1) Includes civil service retirement and disability fund, Railroad Retirement Board, military retirement fund, judicial retirement funds, and foreign service retirement and disability fund. (2) Includes unallocated insurance company contracts beginning 1985:Q4. (3) Excludes all individual retirement accounts (IRAs) (table L.225.i), except those at life insurance companies. L.226 Taxes Payable by Businesses Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total taxes payable by all businesses 109.3 128.8 151.1 172.4 194.7 210.1 212.7 214.8 216.4 224.2 219.8 1 2 3 Nonfinancial corporate business Nonfarm noncorporate business 40.3 37.6 49.9 42.5 59.2 49.8 64.1 60.5 71.0 68.8 82.8 71.0 81.5 73.7 80.2 74.9 78.0 76.3 83.9 77.3 76.7 78.1 2 3 4 5 U.S.-chartered commercial banks Savings institutions 2.8 1.6 4.0 1.4 5.4 1.8 7.1 2.0 9.0 2.0 9.5 1.7 10.0 1.8 10.6 2.1 11.1 2.4 11.7 2.3 12.3 2.0 4 5 6 7 Life insurance companies Other insurance companies 12.0 9.0 12.5 11.6 13.7 13.4 14.9 15.4 16.2 17.4 16.5 17.9 16.9 18.5 17.3 19.0 17.8 19.7 18.2 20.3 18.7 21.0 6 7 8 9 Finance companies Brokers and dealers 4.9 1.1 5.7 1.3 6.5 1.3 7.3 1.3 8.1 2.2 8.3 2.4 8.6 1.7 8.8 1.8 9.1 2.1 9.3 1.2 9.6 1.3 8 9 45.2 46.8 46.9 49.5 72.0 91.4 77.0 90.4 87.9 111.5 90.7 10 27.9 17.3 26.1 20.7 26.9 20.0 28.1 21.4 33.5 38.5 35.5 55.9 39.0 37.9 42.9 47.4 45.6 42.4 49.1 62.3 50.8 39.9 11 12 64.1 81.9 104.2 122.9 122.7 118.6 135.8 124.4 128.5 112.7 129.0 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; amounts outstanding end of period, not seasonally adjusted 1 Liab.: Bank personal trusts and estates 803.0 871.3 942.5 1001.0 1130.4 1158.0 1114.4 1106.7 1019.4 929.1 964.4 1 2 Asset: Household sector 803.0 871.3 942.5 1001.0 1130.4 1158.0 1114.4 1106.7 1019.4 929.1 964.4 2 98 Z.1, September 18, 2001 L.229 Total Miscellaneous Financial Claims Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 5997.0 6386.0 6727.4 7475.3 8040.5 8258.1 8539.8 8998.1 8845.1 9253.4 9506.9 1 2 3 4 Household sector Nonfinancial corporate business Nonfarm noncorporate business 17.5 2211.8 214.8 18.3 2304.3 245.5 18.6 2180.6 301.3 17.2 2327.2 415.1 19.4 2379.8 471.0 18.7 2432.7 482.5 18.9 2436.3 494.1 18.8 2499.7 504.3 19.6 2484.5 517.2 18.7 2508.9 525.9 18.8 2510.8 534.8 2 3 4 5 6 Federal government Rest of the world 6.7 1030.2 7.3 1155.6 6.6 1237.4 6.7 1388.8 6.6 1589.9 6.6 1635.3 6.5 1783.9 6.6 2023.9 6.4 1829.9 6.5 2198.5 6.4 2256.5 5 6 7 8 9 10 Monetary authority Commercial banking Savings institutions Credit unions 7.4 848.4 106.1 4.5 7.4 863.0 103.5 4.6 9.5 1023.7 101.4 4.6 10.7 1128.7 99.8 5.2 9.4 1079.9 85.4 6.0 10.0 1096.8 82.0 5.4 9.6 1143.2 86.1 6.1 9.6 1234.1 92.7 7.5 10.6 1248.4 102.5 5.6 8.8 1230.0 108.4 0.5 8.2 1265.5 119.7 1.5 7 8 9 10 11 12 Life insurance companies Other insurance companies 524.6 501.6 567.5 509.9 625.4 522.3 687.7 527.9 747.2 540.3 764.1 542.2 765.3 547.2 775.4 551.7 760.3 546.3 756.5 549.8 773.0 551.3 11 12 13 14 15 Government-sponsored enterprises Finance companies Mortgage companies 66.9 202.4 16.5 67.2 205.5 20.6 75.1 216.7 16.0 95.3 234.4 17.7 89.3 307.1 17.8 93.8 350.6 17.1 89.8 343.4 17.8 87.9 373.2 17.7 96.7 389.2 17.9 119.8 403.3 18.1 118.7 423.6 18.3 13 14 15 16 17 18 REITs Brokers and dealers Funding corporations 6.7 85.4 145.5 9.2 110.1 186.5 18.0 131.1 239.0 31.6 175.8 305.3 36.0 185.5 470.0 35.9 190.0 494.4 37.4 202.7 551.5 38.5 206.4 550.3 37.8 178.9 593.3 42.6 174.7 582.5 37.3 260.7 602.0 16 17 18 6818.1 7627.1 8289.5 9782.5 10833.0 11206.6 11549.5 11816.6 12216.9 12568.1 12729.5 19 291.7 3076.0 167.0 44.5 301.4 3425.9 203.5 44.4 311.7 3643.3 259.9 44.8 321.4 4246.4 481.4 45.4 334.2 4846.6 544.1 45.6 335.6 4997.1 557.7 45.6 339.6 5109.4 571.2 46.0 341.7 5171.3 585.3 46.2 338.9 5314.0 595.7 45.5 339.6 5375.1 607.5 45.6 340.4 5395.5 619.1 45.9 20 21 22 23 19 Total liabilities 1996 Total assets 20 21 22 23 Household sector Nonfinancial corporate business Nonfarm noncorporate business Farm business 24 25 26 State and local governments Federal government Rest of the world 55.4 116.9 840.9 41.0 110.2 1039.9 27.0 104.8 1107.7 11.5 101.2 1342.6 13.1 100.3 1513.9 21.5 98.7 1646.0 21.9 98.7 1755.9 25.0 98.8 1821.4 24.1 98.9 1946.4 40.5 98.8 2258.6 46.5 99.0 2167.6 24 25 26 27 28 29 30 31 Monetary authority Commercial banking Savings institutions Credit unions Bank personal trusts and estates 10.7 797.8 54.7 13.9 12.1 11.2 823.7 52.9 13.7 16.0 13.2 934.0 49.7 17.6 14.6 16.1 1079.1 62.8 24.3 23.0 16.8 1108.3 60.3 8.0 20.5 16.5 1120.8 59.5 11.3 20.0 16.6 1151.7 63.4 13.9 19.3 18.3 1201.4 61.9 16.7 19.3 19.3 1221.5 67.7 23.4 19.0 19.3 1220.1 84.7 33.8 18.7 20.2 1288.0 85.1 36.3 18.6 27 28 29 30 31 32 33 34 35 Life insurance companies Other insurance companies Private pension funds State and local govt. retirement funds 105.1 37.8 505.2 54.6 73.7 33.6 555.5 62.8 65.7 42.8 590.9 63.5 69.2 49.7 642.3 66.1 34.9 53.8 682.1 81.0 38.7 55.1 693.7 79.4 43.1 57.7 694.1 82.3 54.0 60.0 702.5 85.0 55.6 61.4 692.9 89.0 37.5 63.3 675.5 92.9 29.6 63.7 689.6 94.2 32 33 34 35 36 37 38 Money market mutual funds Mutual funds Government-sponsored enterprises 39.4 6.3 27.5 43.8 4.7 60.6 58.1 11.8 67.8 67.7 7.9 68.5 90.4 3.6 73.5 79.6 1.9 77.0 103.4 1.9 80.8 108.5 2.6 82.8 102.5 3.1 85.5 102.6 1.7 85.5 112.8 1.6 83.2 36 37 38 39 40 41 42 Finance companies REITs Brokers and dealers Funding corporations 129.6 7.3 258.2 165.5 151.5 5.6 320.7 230.7 170.4 10.5 391.8 288.0 186.5 21.2 499.3 348.7 234.9 21.1 522.8 423.1 234.7 21.5 552.0 442.7 234.1 20.8 573.0 450.7 248.1 22.0 588.5 455.1 259.9 21.1 654.5 477.1 264.2 21.8 588.8 492.0 264.9 22.8 722.1 482.7 39 40 41 42 -821.1 -1241.1 -1562.1 -2307.3 -2792.5 -2948.5 -3009.7 -2818.5 -3371.8 -3314.7 -3222.6 43 43 Discrepancy 99 Z.1, September 18, 2001 L.230 Identified Miscellaneous Financial Claims - Part I Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1996 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 U.S. direct investment abroad: 1 2 3 4 5 6 7 Liab.: Rest of the world Asset: Nonfinancial corporate business Commercial banking Life insurance companies Other insurance companies Finance companies Brokers and dealers 885.5 778.7 37.9 5.6 37.8 22.8 2.8 986.5 863.2 42.8 6.6 33.6 27.9 12.4 1067.4 932.5 44.2 8.6 42.8 35.1 4.2 1196.8 1048.4 46.2 9.4 49.7 35.6 7.5 1328.0 1160.4 49.5 11.9 53.8 41.1 11.2 1368.9 1194.5 51.4 12.9 55.1 43.3 11.7 1404.5 1220.3 52.4 13.3 57.7 48.2 12.6 1448.1 1252.3 56.2 14.2 60.0 52.1 13.3 1445.2 1247.2 56.8 13.8 61.4 51.9 14.2 1489.2 1284.2 58.0 14.7 63.3 53.9 15.1 1526.9 1316.5 59.7 15.3 63.7 56.0 15.8 1 2 3 4 5 6 7 Foreign direct investment in U.S.: 8 9 10 11 12 13 14 15 Liab.: Nonfinancial corporate business Nonfarm noncorporate business Commercial banking Life insurance companies Other insurance companies Finance companies Brokers and dealers Funding corporations 641.1 2.8 32.7 13.8 36.8 24.8 11.1 -83.1 698.7 4.0 30.3 17.6 38.5 29.7 8.8 -82.0 750.7 3.9 38.8 25.2 46.2 35.7 8.5 -85.7 806.4 3.5 44.2 27.9 47.5 38.3 10.1 -65.7 948.1 3.4 63.3 40.2 57.4 49.7 15.8 -83.5 963.6 3.4 68.4 40.8 58.3 47.8 16.4 -67.4 1035.6 3.4 68.9 43.2 59.8 48.6 16.8 -54.3 1104.4 3.4 69.7 48.7 62.4 49.9 17.4 -56.8 1116.0 3.5 72.9 59.2 64.1 67.3 16.7 -30.3 1161.0 3.5 73.2 63.0 65.6 73.2 17.8 -34.9 1182.5 3.5 77.1 66.2 64.7 77.9 18.3 -0.2 8 9 10 11 12 13 14 15 16 Asset: Rest of the world 680.1 745.6 823.1 912.2 1094.4 1131.4 1221.9 1299.2 1369.5 1422.4 1490.0 16 27.4 27.4 29.2 29.2 30.8 30.8 32.4 32.4 33.9 33.9 34.2 34.2 34.6 34.6 34.9 34.9 35.4 35.4 35.9 35.9 36.4 36.4 17 18 4.0 4.0 4.6 4.6 5.4 5.4 6.0 6.0 6.4 6.4 6.7 6.7 6.9 6.9 6.9 6.9 7.0 7.0 7.0 7.0 7.1 7.1 19 20 20.1 21.3 21.9 25.3 30.8 31.8 31.6 32.0 33.0 28.0 30.7 21 1.8 1.0 2.2 0.0 5.8 9.1 0.2 0.1 1.6 1.7 1.5 0.0 6.7 9.5 0.2 0.2 0.5 1.7 1.5 0.0 8.0 9.9 0.2 0.2 -0.2 1.6 1.7 0.0 10.0 11.8 0.3 0.2 -0.8 1.6 1.6 0.0 13.0 14.5 0.5 0.3 -0.8 1.7 1.5 0.0 13.4 15.1 0.6 0.3 -1.2 1.6 1.6 0.0 13.4 15.3 0.6 0.3 -1.1 1.6 1.6 0.0 13.4 15.5 0.6 0.4 -0.8 1.6 1.6 0.0 13.8 15.7 0.6 0.4 -6.5 1.6 1.6 0.0 14.1 16.2 0.7 0.3 -4.2 1.5 1.7 0.0 14.2 16.5 0.7 0.2 22 23 24 25 26 27 28 29 Federal government equity in IBRD, etc.: 17 18 Liab.: Rest of the world Asset: Federal government Federal Reserve Bank stock: 19 20 Liab.: Monetary authority Asset: Commercial banking Equity in government-sponsored enterprises: 21 Liab.: Government-sponsored enterprises 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) BHC investment in subsidiaries: 30 31 32 33 34 Liab.: Commercial banking Savings institutions Finance companies Mortgage companies Brokers and dealers 344.3 4.5 25.5 16.5 18.1 372.9 4.7 30.2 20.6 9.5 413.6 5.0 32.3 16.0 36.5 469.0 5.4 30.9 17.7 80.0 471.9 6.0 61.9 17.8 65.5 492.1 6.1 72.6 17.1 88.6 501.0 6.3 68.4 17.8 92.5 514.8 6.4 72.1 17.7 102.7 525.4 6.6 73.2 17.9 115.7 541.8 6.8 69.2 18.1 133.2 567.8 7.0 72.9 18.3 134.0 30 31 32 33 34 35 Asset: Bank holding companies 408.9 437.8 503.5 603.0 623.0 676.4 686.0 713.7 738.9 769.2 799.9 35 25.5 25.5 30.2 30.2 32.3 32.3 30.9 30.9 61.9 61.9 72.6 72.6 68.4 68.4 72.1 72.1 73.2 73.2 69.2 69.2 72.9 72.9 36 37 NFC inv. in finance company subs.: 36 37 Liab.: Finance companies Asset: Nonfinancial corporate business Funding corp. investment in subs.: 38 39 Liab.: Foreign banking offices in U.S. Brokers and dealers 50.7 114.8 64.5 166.3 78.8 209.2 90.6 258.2 93.0 330.1 114.6 328.1 114.5 336.2 119.9 335.2 138.7 338.4 142.3 349.7 137.3 345.5 38 39 40 Asset: Funding corporations 165.5 230.7 288.0 348.7 423.1 442.7 450.7 455.1 477.1 492.0 482.7 40 100 Z.1, September 18, 2001 L.231 Identified Miscellaneous Financial Claims - Part II Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1996 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 Nonofficial foreign currencies: 1 2 Liab.: Rest of the world Asset: Federal government 2.3 2.3 2.1 2.1 2.1 2.1 1.9 1.9 2.6 2.6 2.3 2.3 2.3 2.3 2.4 2.4 2.6 2.6 2.5 2.5 2.5 2.5 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 19.3 19.3 18.0 18.0 18.0 18.0 24.9 24.9 17.1 17.1 15.1 15.1 12.9 12.9 13.6 13.6 17.0 17.0 29.9 29.9 26.2 26.2 5 6 17.5 17.5 18.3 18.3 18.6 18.6 17.2 17.2 19.4 19.4 18.7 18.7 18.9 18.9 18.8 18.8 19.6 19.6 18.7 18.7 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: 9 10 11 Liab.: Life insurance companies Health Policy dividend accumulation 96.9 63.2 33.7 103.9 69.4 34.5 112.2 75.7 36.4 120.1 83.0 37.1 131.9 93.5 38.4 132.8 94.4 38.4 135.4 96.5 38.8 136.7 97.1 39.6 136.8 97.4 39.5 136.8 96.8 40.0 136.5 96.8 39.7 9 10 11 12 Asset: Household sector 96.9 103.9 112.2 120.1 131.9 132.8 135.4 136.7 136.8 136.8 136.5 12 Policy payables: 13 Liab.: Other insurance companies 464.8 471.4 476.2 480.4 482.9 483.9 487.5 489.3 482.1 484.2 486.6 13 14 15 16 17 Asset: Household sector Nonfinancial corporate business Nonfarm noncorporate business Farm business 194.7 183.6 44.2 42.3 197.5 186.2 44.8 42.9 199.5 188.1 45.2 43.3 201.3 189.8 45.6 43.7 202.3 190.8 45.9 43.9 202.7 191.1 46.0 44.0 204.2 192.5 46.3 44.4 205.0 193.3 46.5 44.5 202.0 190.4 45.8 43.9 202.9 191.3 46.0 44.1 203.9 192.2 46.2 44.3 14 15 16 17 332.2 332.2 361.1 361.1 381.9 381.9 422.8 422.8 457.1 457.1 467.2 467.2 465.0 465.0 471.5 471.5 460.7 460.7 442.5 442.5 455.2 455.2 18 19 82.4 82.4 86.4 86.4 93.5 93.5 95.4 95.4 96.4 96.4 96.7 96.7 96.9 96.9 97.2 97.2 97.4 97.4 97.7 97.7 97.9 97.9 20 21 216.2 216.2 276.1 276.1 333.3 333.3 403.3 403.3 419.5 419.5 446.1 446.1 467.5 467.5 470.0 470.0 505.8 505.8 487.8 487.8 541.0 541.0 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 101 Z.1, September 18, 2001 L.232 Unidentified Miscellaneous Financial Claims Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 Total liabilities 1996 1997 1998 1999 2000 Q1 Q2 2001 Q3 Q4 Q1 Q2 2548.5 2562.8 2519.0 2754.1 2812.0 2830.6 2948.8 3236.5 2943.8 3240.4 3295.5 1 1488.3 212.0 1519.2 241.5 1336.4 297.5 1425.4 411.7 1335.3 467.7 1372.4 479.2 1303.8 490.7 1298.0 500.9 1271.2 513.7 1250.2 522.4 1230.3 531.3 2 3 Federal government Rest of the world Monetary authority 6.7 115.0 3.5 7.3 137.7 2.8 6.6 137.0 4.0 6.7 157.7 4.8 6.6 225.5 3.0 6.6 230.0 3.3 6.5 342.5 2.8 6.6 538.4 2.7 6.4 346.8 3.6 6.5 670.9 1.8 6.4 690.7 1.0 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 420.7 160.7 225.1 24.6 10.3 395.4 147.7 200.5 36.3 10.9 492.5 185.1 233.9 57.9 15.6 525.0 206.6 222.4 74.1 21.9 451.7 181.2 158.4 88.1 24.1 421.8 200.4 117.7 78.9 24.7 458.7 212.6 138.8 82.1 25.3 529.7 253.9 147.4 101.4 26.9 511.4 263.3 119.0 104.4 24.8 472.6 225.8 107.3 115.0 24.5 483.4 206.4 119.0 134.6 23.4 7 8 9 10 11 12 13 14 15 Savings institutions Credit unions Life insurance companies Government-sponsored enterprises 101.6 4.5 81.6 27.6 98.8 4.6 84.9 28.0 96.4 4.6 106.2 35.1 94.4 5.2 116.9 45.2 79.4 6.0 118.0 41.4 75.9 5.4 123.2 47.0 79.8 6.1 121.6 45.4 86.2 7.5 118.5 42.3 95.9 5.6 103.5 46.7 101.6 0.5 114.3 61.8 112.7 1.5 115.1 61.8 12 13 14 15 16 17 18 19 Finance companies REITs Brokers and dealers Funding corporations 126.5 6.7 -58.6 12.4 115.6 9.2 -74.4 -7.6 116.3 18.0 -123.1 -8.6 134.3 31.6 -172.5 -32.2 133.5 36.0 -225.9 133.9 157.7 35.9 -243.2 115.7 158.0 37.4 -242.7 138.3 179.0 38.5 -248.8 137.1 175.4 37.8 -291.8 117.9 191.7 42.6 -326.1 129.6 199.8 37.3 -237.0 61.1 16 17 18 19 3369.6 3803.9 4081.1 5061.4 5604.5 5779.2 5958.5 6055.1 6315.6 6555.1 6518.1 20 2086.4 121.9 55.4 2344.8 157.1 41.0 2489.9 213.0 27.0 2977.6 434.2 11.5 3434.3 496.6 13.1 3539.7 510.0 21.5 3629.3 523.3 21.9 3654.6 537.2 25.0 3803.9 548.3 24.1 3836.9 559.9 40.5 3818.1 571.3 46.5 21 22 23 2 3 Nonfinancial corporate business Nonfarm noncorporate business 4 5 6 20 Total assets 21 22 23 Nonfinancial corporate business Nonfarm noncorporate business State and local governments 24 25 26 Federal government Rest of the world Monetary authority 87.2 160.8 10.7 78.8 294.3 11.2 71.9 284.5 13.2 66.9 430.5 16.1 63.9 419.5 16.8 62.2 514.7 16.5 61.8 534.0 16.6 61.5 522.2 18.3 61.0 576.9 19.3 60.4 836.2 19.3 60.2 677.6 20.2 24 25 26 27 28 29 30 31 Commercial banking U.S.-chartered commercial banks Foreign banking offices in U.S. Bank holding companies Banks in U.S.-affiliated areas 341.2 78.9 218.5 39.8 4.0 331.8 78.7 197.2 51.1 4.8 372.9 87.6 234.3 44.4 6.6 414.0 113.1 234.6 56.5 9.7 416.4 109.0 213.3 85.4 8.7 372.8 114.2 170.7 79.6 8.4 393.2 113.2 184.4 86.8 8.8 411.2 113.1 190.5 98.4 9.2 404.9 115.2 176.8 106.3 6.6 371.9 126.9 132.9 105.0 7.1 407.0 123.1 167.6 108.6 7.8 27 28 29 30 31 32 33 34 Savings institutions Credit unions Bank personal trusts and estates 26.4 13.8 12.1 25.3 13.6 16.0 21.7 17.3 14.6 26.2 24.0 23.0 28.7 7.5 20.5 29.4 10.7 20.0 35.2 13.3 19.3 32.8 16.1 19.3 34.9 22.8 19.0 38.5 33.1 18.7 42.4 35.6 18.6 32 33 34 35 36 37 Life insurance companies Private pension funds State and local govt. retirement funds 81.9 90.6 54.6 48.7 108.0 62.8 38.3 115.4 63.5 42.4 124.1 66.1 3.2 128.6 81.0 6.9 129.8 79.4 10.6 132.1 82.3 20.8 133.8 85.0 21.9 134.8 89.0 3.7 135.3 92.9 -4.7 136.4 94.2 35 36 37 38 39 40 Mutual funds Money market mutual funds Government-sponsored enterprises 6.3 39.4 27.5 4.7 43.8 60.6 11.8 58.1 67.8 7.9 67.7 68.5 3.6 90.4 73.5 1.9 79.6 77.0 1.9 103.4 80.8 2.6 108.5 82.8 3.1 102.5 85.5 1.7 102.6 85.5 1.6 112.8 83.2 38 39 40 41 42 43 Finance companies REITs Brokers and dealers 106.8 7.3 39.2 123.7 5.6 32.2 135.3 10.5 54.4 150.9 21.2 88.6 193.8 21.1 92.1 191.4 21.5 94.1 185.9 20.8 93.0 196.0 22.0 105.2 208.0 21.1 134.6 210.3 21.8 85.8 209.0 22.8 165.3 41 42 43 -821.1 -1241.1 -1562.1 -2307.3 -2792.5 -2948.5 -3009.7 -2818.5 -3371.8 -3314.7 -3222.6 44 44 Discrepancy 102 Z.1, September 18, 2001 B.100 Balance Sheet of Households and Nonprofit Organizations (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1 2 3 4 5 6 7 8 Assets Tangible assets Real estate Households (2,3) Nonprofit organizations Equipment and software owned by nonprofit organizations (4) Consumer durable goods (4) Financial assets 1996 1997 1998 1999 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 32333.0 35150.3 39240.3 43192.3 48717.6 49789.4 49388.1 49668.8 48416.4 46965.5 48093.1 1 10696.8 11189.5 11923.2 12802.1 13804.8 14112.3 14546.0 14921.9 15277.9 15604.9 15889.4 2 8425.0 7630.0 795.1 8844.8 8010.2 834.6 9503.8 8563.3 940.5 10274.0 9215.5 1058.5 11095.2 9979.4 1115.8 11345.9 10218.9 1127.0 11721.0 10540.4 1180.6 12047.9 10839.8 1208.2 12353.2 11127.3 1225.9 12625.8 11394.9 1231.0 12879.1 11643.9 1235.2 3 4 5 83.0 2188.7 85.6 2259.2 90.6 2328.8 97.3 2430.8 105.2 2604.5 107.9 2658.4 110.7 2714.3 113.7 2760.2 116.1 2808.6 117.2 2861.8 118.5 2891.8 6 7 21636.2 23960.8 27317.1 30390.2 34912.8 35677.1 34842.1 34747.0 33138.5 31360.6 32203.6 8 9 10 11 12 13 Deposits Foreign deposits Checkable deposits and currency Time and savings deposits Money market fund shares 3306.9 23.4 495.9 2337.5 450.1 3451.4 35.5 425.2 2490.1 500.7 3636.7 37.2 368.3 2649.0 582.3 3986.3 38.3 360.0 2840.8 747.1 4146.3 43.5 278.5 2952.6 871.6 4308.0 48.6 258.2 3050.0 951.2 4291.3 48.6 218.2 3110.1 914.4 4380.4 48.0 202.0 3193.5 936.9 4549.4 51.3 231.2 3264.0 1003.0 4735.0 49.8 231.9 3359.9 1093.4 4701.4 45.8 232.1 3401.7 1021.8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Credit market instruments Open market paper U.S. government securities Treasury Savings bonds Other Treasury Agency Municipal securities Corporate and foreign bonds Mortgages 1927.8 48.0 899.7 739.5 185.0 554.5 160.2 455.4 415.3 109.5 2082.5 54.7 998.4 739.1 187.0 552.1 259.4 433.2 486.7 109.5 2018.6 56.1 865.0 598.8 186.5 412.3 266.2 468.8 519.1 109.6 1941.8 63.7 676.7 485.5 186.6 298.9 191.2 488.3 602.6 110.5 2151.6 67.7 829.2 542.0 186.4 355.6 287.2 526.6 617.8 110.2 2079.2 68.9 762.9 489.0 185.3 303.7 274.0 529.1 607.1 111.2 2065.0 70.2 677.0 380.3 184.6 195.7 296.7 542.9 663.5 111.5 2021.3 71.4 648.2 342.5 184.3 158.2 305.7 543.1 646.9 111.7 1977.3 72.7 620.0 331.6 184.8 146.9 288.4 541.1 631.7 111.8 1907.4 67.2 489.9 313.3 184.8 128.6 176.6 550.2 688.1 111.9 1887.4 62.7 481.3 261.7 186.0 75.8 219.6 571.5 660.1 111.7 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Corporate equities (2) Mutual fund shares (5) Security credit Life insurance reserves Pension fund reserves Investment in bank personal trusts Equity in noncorporate business (6) Miscellaneous assets 4182.9 1158.9 127.6 566.2 5671.3 803.0 3600.0 291.7 4872.3 1495.4 162.9 610.6 6325.1 871.3 3787.8 301.4 6209.5 1941.2 215.5 665.0 7323.4 942.5 4053.2 311.7 7190.4 2362.0 276.7 718.3 8193.7 1001.0 4398.7 321.4 9284.7 3066.3 323.9 783.9 9041.7 1130.4 4649.9 334.2 9409.8 3302.7 369.6 801.0 9237.9 1158.0 4675.4 335.6 8688.9 3240.1 357.2 806.5 9166.7 1114.4 4772.2 339.6 8305.2 3279.5 370.0 818.7 9307.9 1106.7 4815.5 341.7 7042.9 3043.2 408.7 819.1 9054.8 1019.4 4884.7 338.9 5942.6 2739.3 412.0 823.0 8603.5 929.1 4929.1 339.6 6295.6 2929.6 412.8 844.6 8885.5 964.4 4941.8 340.4 24 25 26 27 28 29 30 31 5111.0 5440.4 5808.7 6291.9 6881.8 7001.7 7150.3 7318.3 7455.7 7488.6 7663.9 32 4913.8 3383.0 1122.8 98.3 57.4 160.3 91.9 5218.6 3574.9 1211.6 104.9 58.0 172.7 96.6 5540.9 3809.5 1264.1 114.9 66.6 190.7 95.1 5995.1 4155.2 1331.7 126.9 72.9 204.0 104.4 6501.7 4538.9 1426.2 137.3 65.7 218.9 114.8 6566.0 4604.9 1416.0 138.0 69.6 222.8 114.7 6727.4 4717.7 1454.0 141.4 70.9 227.4 115.8 6890.5 4824.4 1495.3 141.9 67.5 242.1 119.3 7063.8 4916.2 1566.5 143.0 73.9 246.3 117.9 7133.7 4997.5 1558.6 144.2 63.5 251.1 118.8 7307.6 5143.2 1581.1 145.3 60.0 255.4 122.6 33 34 35 36 37 38 39 78.6 101.1 94.4 109.1 131.2 118.0 152.8 126.8 227.9 132.7 282.4 134.5 267.8 136.3 271.4 137.7 233.7 138.6 195.8 140.4 195.9 141.5 40 41 17.5 18.3 18.6 17.2 19.4 18.7 18.9 18.8 19.6 18.7 18.8 42 27222.0 29709.8 33431.5 36900.4 41835.8 42787.7 42237.8 42350.6 40960.7 39476.9 40429.2 43 6012.5 5717.7 174.0 120.8 596.2 6352.4 6049.9 178.9 123.7 624.2 6712.9 6396.0 188.7 128.2 664.8 7158.5 6826.9 198.0 133.5 710.9 7662.8 7321.0 203.8 138.1 751.9 7859.6 7511.5 207.4 140.7 767.7 7968.9 7619.4 208.1 141.4 778.9 8114.3 7762.2 209.5 142.5 793.6 8247.3 7892.9 210.8 143.6 808.7 8379.2 8021.5 212.7 145.1 827.2 8483.3 8124.6 213.1 145.6 840.7 44 45 46 47 48 5422.6 5677.7 5968.2 6355.6 6618.0 6859.1 6993.7 7081.3 7189.8 7295.0 7367.1 49 502.0 523.3 560.2 580.6 632.2 623.8 603.9 598.1 569.7 541.2 548.8 50 4246.9 4435.3 4753.8 5060.4 5440.5 5614.0 5822.7 6015.4 6211.1 6397.4 6500.7 51 55.7 55.4 55.5 54.9 54.5 54.9 55.2 55.5 55.8 56.1 55.8 52 32 Liabilities 33 34 35 36 37 38 39 Credit market instruments Home mortgages (7) Consumer credit Municipal securities (8) Bank loans n.e.c. Other loans and advances Commercial mortgages (8) 40 41 Security credit Trade payables (8) Deferred and unpaid life insurance premiums 42 43 Net worth 44 45 46 47 48 Memo: Replacement-cost value of structures: Residential Households Farm households Nonprofit organizations Nonresidential (nonprofits) 49 50 51 52 Disposable personal income Household net worth as percentage of disposable personal income Owners’ equity in household real estate (9) Owners’ equity as percentage of household real estate (10) (1) Sector includes farm households. (2) At market value. (3) Includes vacant land and vacant homes for sale. (4) At replacement (current) cost. (5) Value based on the market values of equities held and the book value of other assets held by mutual funds. (6) Owners’ equity in noncorporate business, farm business, and unincorporated security brokers and dealers. (7) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 24. (8) Liabilities of nonprofit organizations. (9) Line 4 less line 34. (10) Line 51 divided by line 4. 103 Z.1, September 18, 2001 B.102 Balance Sheet of Nonfarm Nonfinancial Corporate Business Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1995 1996 1997 1998 1999 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 With tangible assets stated at either market value or replacement cost: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Assets 11738.0 12726.9 13689.3 14916.9 16319.6 16665.0 17006.0 17118.1 17315.0 17378.5 17480.6 1 6777.1 7266.8 7882.6 8371.5 8939.9 9071.5 9211.6 9189.8 9305.3 9342.6 9387.4 2 3317.7 2389.6 1069.8 3660.9 2515.2 1090.7 4100.9 2641.4 1140.3 4401.5 2790.0 1180.0 4748.9 2942.2 1248.8 4802.7 2999.7 1269.0 4860.9 3058.4 1292.3 4755.6 3122.8 1311.4 4802.9 3170.6 1331.9 4806.0 3186.4 1350.2 4806.4 3212.6 1368.4 3 4 5 4960.9 5460.1 5806.7 6545.4 7379.7 7593.5 7794.3 7928.3 8009.6 8035.9 8093.2 6 15.6 252.9 42.9 60.0 2.4 20.1 80.5 36.8 57.9 85.1 1184.9 45.7 3076.0 26.1 289.8 43.6 67.6 3.9 31.5 75.6 31.0 54.4 77.7 1273.1 59.9 3425.9 21.0 320.5 36.3 87.8 4.6 36.1 34.8 27.4 80.2 78.9 1366.6 69.1 3643.3 28.4 335.4 31.3 114.3 4.2 39.4 34.2 25.7 67.3 74.9 1452.9 91.0 4246.4 26.1 410.1 35.3 137.3 5.3 43.7 32.1 22.3 60.3 80.3 1566.3 113.9 4846.6 20.2 415.1 28.5 139.3 6.1 38.3 36.7 23.9 59.0 72.9 1639.0 117.5 4997.1 24.4 440.6 29.3 140.0 4.2 37.1 41.5 36.3 57.8 73.5 1688.8 111.4 5109.4 37.7 453.5 30.3 155.9 4.0 40.3 42.3 27.6 56.5 72.1 1725.9 111.0 5171.3 22.2 440.0 34.2 177.7 5.2 43.3 34.1 33.2 55.3 82.7 1669.0 98.8 5314.0 16.3 407.1 34.4 210.3 4.7 42.9 34.7 32.2 54.0 71.4 1667.1 85.9 5375.1 13.3 411.6 34.6 238.4 4.0 39.0 31.8 33.4 52.8 68.0 1679.1 91.6 5395.5 7 8 9 10 11 12 13 14 15 16 17 18 19 6009.5 6378.6 6628.8 7232.6 7920.1 8140.2 8307.6 8469.8 8561.5 8646.4 8718.2 20 Tangible assets Real estate (1) Equipment and software (2) Inventories (2) Financial assets Foreign deposits Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs Commercial paper U.S. government securities Municipal securities Mortgages Consumer credit Trade receivables Mutual fund shares (1) Miscellaneous assets Liabilities 21 22 23 24 25 26 27 Credit market instruments Commercial paper Municipal securities (3) Corporate bonds (4) Bank loans n.e.c. Other loans and advances Mortgages 2879.9 157.4 134.8 1344.1 601.8 453.7 188.3 3097.3 156.4 137.9 1460.4 642.1 472.2 228.4 3396.9 168.6 142.0 1610.9 692.7 520.6 262.1 3791.6 193.0 147.8 1829.6 774.5 567.9 278.9 4275.2 230.3 152.8 2059.5 847.5 605.5 379.6 4427.2 260.8 153.3 2106.0 868.3 642.8 396.0 4574.2 296.8 153.4 2144.5 902.5 664.7 412.4 4634.8 307.0 153.9 2190.6 909.0 651.3 423.0 4712.7 278.4 154.2 2234.5 921.8 681.3 442.6 4803.3 253.2 154.7 2335.4 923.2 682.0 454.9 4897.5 223.3 155.6 2441.3 900.4 698.2 478.6 21 22 23 24 25 26 27 28 29 30 Trade payables Taxes payable Miscellaneous liabilities 877.5 40.3 2211.8 927.0 49.9 2304.3 992.1 59.2 2180.6 1049.7 64.1 2327.2 1194.1 71.0 2379.8 1197.6 82.8 2432.7 1215.6 81.5 2436.3 1255.1 80.2 2499.7 1286.2 78.0 2484.5 1250.3 83.9 2508.9 1233.2 76.7 2510.8 28 29 30 31 Net worth (market value) 5728.4 6348.3 7060.5 7684.3 8399.5 8524.8 8698.3 8648.3 8753.5 8732.2 8762.4 31 78.2 3091.5 81.6 3249.1 86.5 3456.2 91.7 3602.0 96.4 3790.6 98.7 3865.5 99.6 3916.8 100.8 3986.1 101.9 4057.1 103.4 4145.5 104.1 4208.0 32 33 6435.0 50.3 44.8 112.3 7618.6 48.8 40.7 120.0 9674.9 48.1 35.1 137.0 11521.8 49.3 32.9 149.9 15030.3 50.9 28.4 178.9 15598.4 51.9 28.4 183.0 14723.5 52.6 31.1 169.3 14200.9 53.6 32.6 164.2 12243.1 53.8 38.5 139.9 10599.0 55.0 45.3 121.4 11315.7 55.9 43.3 129.1 34 35 36 37 9940.6 10735.2 11395.4 12484.1 13686.7 14033.3 14324.8 14590.3 14765.9 14899.6 15066.6 38 4979.7 1937.3 2010.9 1031.5 5275.1 2044.3 2163.1 1067.7 5588.7 2159.6 2330.1 1099.0 5938.7 2288.2 2513.1 1137.3 6307.0 2417.3 2721.2 1168.5 6439.7 2450.5 2779.8 1209.4 6530.5 2481.6 2840.9 1208.0 6662.0 2517.2 2901.7 1243.1 6756.3 2552.3 2959.1 1244.9 6863.6 2591.9 3010.2 1261.6 6973.4 2628.6 3050.1 1294.7 39 40 41 42 32 33 34 35 36 37 Memo: Replacement-cost value of structures: Residential Nonresidential Market value of equities outstanding (includes corporate farm equities) Debt/net worth (percent) (5) Debt/equities (percent) (6) Equities/net worth (percent) (7) With tangible assets stated at historical cost: 38 39 40 41 42 Assets (8) Tangible assets Real estate Equipment and software Inventories 43 Net worth (historical cost) (9) 3931.1 4356.6 4766.6 5251.5 5766.6 5893.1 6017.2 6120.4 6204.4 6253.2 6348.4 43 44 45 46 Memo: Historical-cost value of structures: Residential Nonresidential Debt/net worth (percent) (10) 32.5 1709.9 73.3 34.0 1810.8 71.1 35.6 1923.6 71.3 37.3 2053.4 72.2 39.2 2178.5 74.1 40.0 2211.1 75.1 40.8 2245.1 76.0 41.6 2281.2 75.7 42.6 2318.6 76.0 43.7 2358.3 76.8 44.8 2395.8 77.1 44 45 46 (1) At market value. (2) At replacement (current) cost. (3) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds. (4) Through 1992, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues. (5) Line 21 divided by line 31. (6) Line 21 divided by line 34. (7) Line 34 divided by line 31. (8) Sum of lines 6 and 39. (9) Line 38 less line 20. (10) Line 21 divided by line 43. 104 Z.1, September 18, 2001 R.100 Change in Net Worth of Households and Nonprofit Organizations Billions of dollars; not seasonally adjusted 1995 1 2 Change in net worth (1) Net investment 1996 1997 1998 1999 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 2704.6 2487.9 3721.7 3468.9 4935.4 951.9 -549.9 112.8 -1389.9 -1483.7 952.2 1 367.3 405.4 334.8 453.6 318.0 76.4 -17.2 72.0 145.6 159.6 -10.7 2 3 4 5 Net physical investment Capital expenditures - Consumption of fixed capital 294.0 876.3 582.2 310.6 907.2 596.6 366.6 982.0 615.4 438.6 1081.4 642.8 489.5 1166.6 677.1 117.1 294.0 176.9 134.4 315.0 180.6 142.8 327.3 184.5 129.3 317.3 188.0 106.5 298.1 191.6 128.6 326.2 197.5 3 4 5 6 7 8 Net financial investment Net acquisition of financial assets - Net increase in liabilities 73.2 424.6 351.4 94.8 458.0 363.1 -31.8 336.2 368.0 15.0 498.1 483.1 -171.5 418.1 589.6 -40.7 79.2 119.9 -151.6 -3.0 148.6 -70.8 86.1 156.9 16.2 145.7 129.5 53.1 86.0 32.9 -139.3 36.0 175.3 6 7 8 2430.5 2068.7 3529.5 3143.5 4611.4 888.7 -529.6 62.6 -1479.9 -1636.6 988.5 9 225.3 1177.3 96.2 204.4 247.2 882.0 141.0 219.5 462.5 1630.6 186.2 337.2 543.1 1229.6 177.4 419.5 575.6 2358.7 562.6 300.3 203.5 277.4 154.7 50.9 302.5 -623.3 -126.5 95.9 247.7 -285.6 -20.9 43.3 233.1 -1126.2 -260.1 75.4 227.2 -1012.3 -331.0 66.7 181.6 409.5 109.8 7.7 10 11 12 13 630.2 505.5 791.9 673.6 678.3 167.5 -142.8 78.3 -321.8 -503.4 239.0 14 97.2 73.6 121.1 100.3 135.9 34.7 -35.4 -0.4 -80.3 -83.8 41.0 15 -50.5 -55.1 -96.9 -103.0 -56.2 -12.4 -6.0 -15.4 -9.1 -7.2 -27.1 16 -50.8 0.2 -53.6 -1.5 -94.9 -2.0 -100.8 -2.2 -56.2 -0.1 -12.8 0.5 -6.4 0.4 -16.1 0.7 -9.3 0.2 -6.5 -0.8 -26.8 -0.3 17 18 -42.6 68.8 -45.7 -25.2 62.1 -0.8 2.8 -6.4 -46.4 0.5 1.5 19 27222.0 5422.6 29709.8 5677.7 33431.5 5968.2 36900.4 6355.6 41835.8 6618.0 42787.7 6859.1 42237.8 6993.7 42350.6 7081.3 40960.7 7189.8 39476.9 7295.0 40429.2 7367.1 20 21 9 10 11 12 13 14 15 16 17 18 19 Holding gains on assets stated at market value (2) Real estate Corporate equities Mutual fund shares Equity in noncorporate business Life insurance and pension fund reserves Investment in bank personal trusts and estates Holding gains on assets stated at current cost (2) Consumer durable goods Equipment and software Other factors (3) Memo: 20 21 Net worth outstanding (4) Disposable personal income (1) Sum of net investment (line 2), holding gains (lines 9 and 16), and other factors (line 19). (2) Calculated as change in amount outstanding during period less net purchases during period. (3) Consists of estimates of land purchases, difference between series for consumption of fixed capital published by BEA, and statistical discontinuities. (4) Table B.100, line 43. 105 Z.1, September 18, 2001 R.102 Change in Net Worth of Nonfarm Nonfinancial Corporate Business Billions of dollars; not seasonally adjusted 1995 1996 1997 1998 1999 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 With tangible assets valued at either market or replacement cost: 1 2 3 4 5 6 7 8 9 10 11 Change in net worth (1) 471.3 619.9 712.1 623.8 715.1 125.4 173.5 -50.0 105.2 -21.3 30.3 1 210.7 155.7 24.2 -13.9 148.5 67.9 30.7 41.2 -17.8 8.3 41.6 2 Net physical investment Capital expenditures - Consumption of fixed capital - Inventory valuation adjustment - Access rights from fed. government 236.3 660.4 434.3 -18.3 8.1 220.3 687.7 459.5 3.1 4.8 271.7 778.6 489.7 8.5 8.8 303.5 845.1 519.2 18.4 4.1 379.1 934.4 556.5 -2.9 1.7 100.3 241.2 145.9 -5.0 0 108.0 253.0 149.0 -4.2 0.3 107.8 257.6 152.4 -2.7 0.2 95.5 250.3 155.1 -0.4 0.1 78.6 236.6 158.1 -0.2 0.1 67.1 224.7 162.3 -4.7 0.1 3 4 5 6 7 Net financial investment Net acquisition of financial assets - Net increase in liabilities 32.7 423.6 390.8 4.8 403.3 398.5 -133.1 150.3 283.5 -50.4 570.6 621.0 -87.1 638.4 725.5 -47.7 189.4 237.0 -16.0 180.6 196.6 -44.7 126.6 171.3 -14.6 79.4 94.0 -61.8 26.3 88.2 -16.6 57.3 73.9 8 9 10 Corporate equity issues -58.3 -69.5 -114.4 -267.0 -143.5 15.3 -61.3 -21.9 -98.7 -8.5 -8.8 11 125.1 115.1 10.0 289.9 279.0 10.9 396.0 378.6 17.5 251.5 236.9 14.6 285.4 260.6 24.8 36.8 32.8 4.0 38.1 43.7 -5.6 -128.3 -128.3 -0.0 17.0 28.7 -11.7 -35.3 -22.9 -12.4 -16.4 -22.6 6.2 12 13 14 30.0 18.1 4.4 2.8 -4.7 8.1 -17.0 2.9 7.7 -14.5 -1.5 -36.5 1.1 -15.0 -49.0 30.4 -34.4 -10.6 -13.2 -88.6 32.3 -73.2 8.8 -24.2 -120.9 -1.5 -7.8 6.4 0 0.0 -7.8 -9.3 1.4 0 -0.0 0.1 -3.1 3.3 0 0.0 -28.7 -16.4 11.1 -35.2 -11.8 -17.4 -41.8 24.4 0 0.0 2.3 -19.6 21.9 0 0.0 15 16 17 18 19 105.5 166.2 293.4 355.8 249.0 22.1 112.6 37.0 134.8 23.1 2.7 20 5728.4 6348.3 7060.5 7684.3 8399.5 8524.8 8698.3 8648.3 8753.5 8732.2 8762.4 21 Net investment flow 12 13 14 Holding gains on assets stated at market value (2) Real estate Mutual fund shares 15 16 17 18 19 Holding gains on assets stated at current cost less holding gains on liabilities stated at current cost (2) Equipment and software Inventories (3) Direct investment abroad - Foreign direct investment in U.S. 20 Other factors (4) Memo: 21 Net worth outstanding (market value) With tangible assets valued at historical cost: 22 23 Change in net worth (5) Net investment flow 365.5 425.5 410.0 484.8 515.1 126.5 124.1 103.2 84.0 48.8 95.2 22 210.7 155.7 24.2 -13.9 148.5 67.9 30.7 41.2 -17.8 8.3 41.6 23 24 25 26 27 28 Net physical investment Capital expenditures - Consumption of fixed capital - Inventory valuation adjustment - Access rights from fed. government 236.3 660.4 434.3 -18.3 8.1 220.3 687.7 459.5 3.1 4.8 271.7 778.6 489.7 8.5 8.8 303.5 845.1 519.2 18.4 4.1 379.1 934.4 556.5 -2.9 1.7 100.3 241.2 145.9 -5.0 0 108.0 253.0 149.0 -4.2 0.3 107.8 257.6 152.4 -2.7 0.2 95.5 250.3 155.1 -0.4 0.1 78.6 236.6 158.1 -0.2 0.1 67.1 224.7 162.3 -4.7 0.1 24 25 26 27 28 29 30 31 Net financial investment Net acquisition of financial assets - Net increase in liabilities 32.7 423.6 390.8 4.8 403.3 398.5 -133.1 150.3 283.5 -50.4 570.6 621.0 -87.1 638.4 725.5 -47.7 189.4 237.0 -16.0 180.6 196.6 -44.7 126.6 171.3 -14.6 79.4 94.0 -61.8 26.3 88.2 -16.6 57.3 73.9 29 30 31 32 Corporate equity issues -58.3 -69.5 -114.4 -267.0 -143.5 15.3 -61.3 -21.9 -98.7 -8.5 -8.8 32 33 Valuation adjustment on reproducible assets (6) -37.0 5.1 -23.6 -11.0 -80.2 14.4 -32.9 4.5 -19.2 7.4 20.2 33 34 Holding gains on mutual fund shares (2) 10.0 10.9 17.5 14.6 24.8 4.0 -5.6 -0.0 -11.7 -12.4 6.2 34 35 36 37 Holding gains on assets stated at current cost less holding gains on liabilities stated at current cost (2) Direct investment abroad - Foreign direct investment in U.S. 7.4 2.8 -4.7 22.2 7.7 -14.5 34.0 -15.0 -49.0 75.4 -13.2 -88.6 96.7 -24.2 -120.9 -0.0 0 0.0 0.0 0 -0.0 -0.0 0 0.0 -23.4 -35.2 -11.8 -0.0 0 0.0 -0.0 0 0.0 35 36 37 174.4 231.6 358.0 419.8 325.4 40.2 131.9 57.6 156.1 45.5 27.2 38 3931.1 4356.6 4766.6 5251.5 5766.6 5893.1 6017.2 6120.4 6204.4 6253.2 6348.4 39 38 Other factors (4) Memo: 39 Net worth outstanding (historical cost) (1) Sum of net investment flow (line 2), holding gains (lines 12 and 15), and other factors (line 20). (2) Calculated as change in amount outstanding during period less net purchases during period. (3) Before inventory valuation adjustment. (4) Consists of estimates of land purchases and statistical discontinuities. (5) Sum of net investment flow (line 23), valuation adjustment on reproducible assets (line 33), holding gains (lines 34 and 35), and other factors (line 38). (6) Effect of different treatment of certain items in BEA capital accounts from the NIPA accounts in the calculation of historical-cost investment flows; also reflects adjustments for intersectoral transfers of assets. 106 Z.1, September 18, 2001 F.100.a Nonprofit Organizations (1) Billions of dollars 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1 Net financial investment 49.7 37.5 22.2 14.0 25.8 14.3 49.0 47.8 86.2 9.3 6.0 1 2 Net acquisition of financial assets 67.1 71.1 54.3 51.6 55.5 48.5 73.0 84.3 122.5 47.5 59.5 2 3 4 5 6 Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs (2) 0.5 -0.2 -13.1 0.4 -1.0 5.4 4.9 3.1 1.3 -6.2 -1.2 -2.2 4.0 10.4 32.9 -1.3 1.2 -2.4 4.0 6.0 1.7 -1.5 -13.8 0.5 -2.5 0.2 1.1 0.2 2.3 0.2 1.2 0.2 8.3 1.1 9.4 1.4 2.9 0.3 -1.8 0.0 3.1 1.1 7.1 1.3 3 4 5 6 7 Credit market instruments 51.1 17.2 22.7 -12.3 13.4 28.8 13.1 38.1 39.3 23.3 40.9 7 34.4 10.9 0.0 6.6 -0.8 -10.4 16.4 0.5 9.7 0.9 6.2 9.4 -0.5 8.2 -0.7 -29.9 9.7 0.0 7.9 -0.1 -3.3 10.0 0.2 5.6 0.9 15.6 7.4 0.3 4.5 0.9 1.2 9.3 0.4 2.4 -0.1 1.3 23.9 0.1 11.9 0.9 6.7 20.3 0.0 11.7 0.6 1.5 13.0 -0.1 8.3 0.6 7.5 17.0 0.1 15.4 0.9 8 9 10 11 12 5.2 -1.0 16.1 2.6 15.0 1.2 -18.6 -3.3 18.6 0.7 8.9 -0.7 45.1 1.5 -10.4 1.3 21.0 2.4 -30.6 -1.0 -40.7 0.4 13 14 2.8 2.8 2.8 2.8 2.6 2.6 2.0 2.0 1.1 1.1 0.8 1.8 2.0 2.1 1.5 1.6 3.4 3.5 3.7 2.6 4.6 4.6 15 16 -0.1 18.6 -3.9 21.0 -6.0 24.5 15.2 20.5 10.6 1.2 7.0 15.0 0.2 10.1 10.2 38.0 8.4 24.4 9.7 38.3 12.5 24.7 17 18 17.3 33.6 32.1 37.6 29.7 34.1 24.0 36.4 36.3 38.2 53.5 19 7.8 12.0 12.2 14.5 9.6 14.2 2.8 -0.1 11.5 13.4 23.6 20 8 9 10 11 12 Open market paper U.S. government securities Municipal securities Corporate and foreign bonds Mortgages 13 14 Corporate equities Mutual fund shares 15 16 Security credit Trade receivables (2) 17 18 Equity in noncorporate business Miscellaneous assets (2) 19 20 Net increase in liabilities Credit market instruments 21 22 23 24 Municipal securities Bank loans n.e.c. Other loans and advances Commercial mortgages 1.8 0.2 -0.0 5.8 3.5 -5.2 -0.0 13.8 3.3 -1.1 0.3 9.7 4.0 -2.8 0.4 12.9 2.0 2.4 -0.2 5.4 1.4 5.0 0.1 7.7 3.6 6.4 0.1 -7.4 0.7 8.9 -0.1 -9.6 6.6 0.2 0.0 4.7 10.0 4.9 -0.2 -1.2 12.0 2.4 -0.1 9.4 21 22 23 24 25 26 Trade payables Miscellaneous liabilities (2) 2.4 7.1 16.2 5.5 9.3 10.5 9.4 13.7 5.9 14.2 6.0 14.0 5.2 16.0 7.9 28.6 8.0 16.8 8.9 15.8 8.7 21.2 25 26 (1) Does not include religious organizations or organizations with less than $25,000 in gross annual receipts. (2) Not included in table F.100. 107 Z.1, September 18, 2001 L.100.a Nonprofit Organizations (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total financial assets 2 3 4 5 Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs (2) 6 Credit market instruments 7 8 9 10 11 Open market paper U.S. government securities Municipal securities Corporate and foreign bonds Mortgages 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 564.4 679.6 711.7 802.8 867.4 937.6 1002.5 1190.3 1392.9 1586.3 1777.4 1 17.0 1.5 15.9 1.7 15.9 6.8 20.8 4.8 17.3 0.6 19.6 2.5 21.3 11.1 52.5 1.3 22.5 8.7 56.5 7.3 24.1 7.1 42.7 7.8 21.6 7.3 43.8 8.0 23.9 7.5 45.1 8.2 32.1 8.6 54.5 9.6 35.0 8.9 52.7 9.6 38.1 10.0 59.8 10.9 2 3 4 5 203.1 220.3 242.9 230.6 244.0 272.8 285.9 324.0 363.3 386.6 427.5 6 67.3 82.0 0.1 51.1 2.6 56.9 98.4 0.6 60.8 3.5 63.2 107.8 0.1 69.0 2.8 33.3 117.4 0.2 77.0 2.8 29.9 127.4 0.4 82.6 3.7 45.5 134.8 0.8 87.1 4.6 46.7 144.1 1.1 89.5 4.5 48.0 168.0 1.2 101.4 5.3 54.7 188.3 1.3 113.1 6.0 56.1 201.3 1.2 121.4 6.6 63.7 218.2 1.3 136.8 7.4 7 8 9 10 11 145.8 10.2 203.0 15.8 197.5 15.3 214.6 15.9 241.1 17.7 270.2 18.5 308.2 19.0 397.1 24.6 494.7 30.4 604.9 34.5 692.0 38.7 12 13 12 13 Corporate equities Mutual fund shares 14 15 Security credit Trade receivables (2) 25.7 25.7 28.5 28.5 31.1 31.1 33.1 33.1 34.3 34.3 35.0 36.1 37.1 38.1 38.6 39.7 42.0 43.2 45.8 45.8 50.3 50.3 14 15 16 17 Equity in noncorporate business Miscellaneous assets (2) 26.1 92.0 22.2 112.9 16.2 137.4 31.4 158.0 42.0 159.2 49.0 174.2 49.2 184.3 59.4 222.2 67.8 246.7 77.5 285.0 90.0 309.7 16 17 253.8 287.5 319.5 357.1 386.8 421.0 444.9 481.4 517.7 555.8 609.3 18 154.7 166.7 178.9 193.4 203.0 217.1 219.9 219.8 231.4 244.8 268.4 19 18 19 Liabilities Credit market instruments 20 21 22 23 Municipal securities Bank loans n.e.c. Other loans and advances Commercial mortgages 79.9 15.5 0.3 59.0 83.3 10.3 0.3 72.8 86.6 9.2 0.5 82.5 90.6 6.4 0.9 95.5 92.6 8.8 0.7 100.9 94.0 13.8 0.8 108.5 97.6 19.9 0.9 101.5 98.3 28.8 0.8 91.9 104.9 29.0 0.9 96.6 114.9 34.1 0.7 95.1 126.9 36.5 0.6 104.4 20 21 22 23 24 25 Trade payables Miscellaneous liabilities (2) 41.3 57.9 57.4 63.3 66.8 73.9 76.2 87.6 82.1 101.8 88.1 115.8 93.2 131.8 101.1 160.4 109.1 177.2 118.0 193.0 126.8 214.2 24 25 (1) Does not include religious organizations or organizations with less than $25,000 in gross annual receipts. (2) Not included in table L.100. 108 Z.1, September 18, 2001 F.106.c Consolidated Statement for Federal, State, and Local Governments (1) Billions of dollars; quarterly figures are seasonally adjusted annual rates 1996 1 2 3 4 5 1997 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 Current receipts, NIPA basis Personal tax and nontax receipts Corporate profit tax accruals Indirect business tax and nontax accruals Contributions for social insurance 2269.1 869.7 223.7 620.0 555.8 2440.0 968.8 237.2 646.2 587.8 2613.8 1070.5 238.9 681.3 623.3 2786.1 1159.3 253.0 713.1 660.8 3023.9 1288.2 271.5 762.7 701.6 2960.3 1245.3 277.0 749.4 688.6 3013.6 1277.3 280.4 758.3 697.6 3047.7 1300.2 274.9 767.6 705.0 3073.9 1329.8 253.5 775.6 715.0 3096.8 1345.2 236.8 785.7 729.1 3105.7 1351.0 231.0 791.0 732.7 1 2 3 4 5 6 7 8 9 10 11 12 Current expenditures, NIPA basis Consumption expenditures Transfer payments (net) Net interest paid - Dividends received by government Subsidies less current surplus of govt. enterprises - Wage accruals less disbursements 2384.6 1171.8 916.0 274.5 0.3 22.6 0.0 2462.4 1223.3 945.0 275.3 0.3 19.1 0.0 2529.3 1261.4 965.9 278.8 0.4 23.6 0.0 2624.8 1327.9 1000.1 263.8 0.4 33.3 0.0 2772.5 1422.8 1050.0 262.6 0.4 37.6 0.0 2714.2 1390.6 1022.6 263.9 0.4 37.5 0.0 2770.0 1426.1 1043.4 264.0 0.4 36.9 0.0 2783.0 1430.2 1053.2 262.7 0.4 37.3 0.0 2822.8 1444.1 1080.7 259.7 0.4 38.7 0.0 2869.2 1474.2 1094.6 253.0 0.4 47.8 0.0 2895.0 1491.0 1110.8 241.3 0.4 52.3 0.0 6 7 8 9 10 11 12 13 14 15 16 Current surplus or deficit (-), NIPA basis + Consumption of fixed capital - Insurance and pension fund reserves (2) + Net capital transfers (3) -115.5 174.3 3.4 23.1 -22.4 181.0 3.4 26.8 84.6 187.7 4.4 32.4 161.4 198.1 3.8 32.4 251.4 211.4 1.8 36.2 246.1 206.5 0.3 37.0 243.6 209.9 2.7 36.2 264.7 213.1 0.8 35.8 251.1 215.9 3.3 35.8 227.6 218.6 2.8 38.4 210.7 221.4 6.9 37.1 13 14 15 16 17 = Gross saving and net capital transfers 78.5 182.0 300.2 388.0 497.2 489.3 487.0 512.8 499.6 481.8 462.2 17 18 19 20 Gross investment Fixed investment Access rights sales 31.9 250.2 -4.8 127.7 264.7 -8.8 328.5 277.1 -4.1 418.1 304.6 -1.7 530.6 318.3 -0.6 375.2 321.1 0.0 658.7 315.0 -1.2 503.7 314.1 -0.7 584.8 322.8 -0.5 225.9 330.9 -0.3 473.5 346.2 -0.3 18 19 20 -213.4 -128.2 55.5 115.2 212.9 54.1 344.9 190.3 262.5 -104.7 127.6 21 41.3 34.7 110.4 166.6 27.1 -40.9 36.8 106.7 5.9 169.5 126.4 22 -2.9 5.4 12.0 32.1 2.5 3.8 6.8 3.6 6.0 -20.6 14.1 7.2 -7.1 70.0 11.6 5.0 -0.6 -64.0 10.4 9.7 1.9 -146.2 -18.1 51.3 -8.3 -65.6 21.3 -9.4 -1.5 10.2 9.1 12.0 5.3 -54.7 29.2 -15.0 -1.2 42.4 -3.2 19.0 5.0 -26.3 4.1 17.2 23 24 25 26 -8.5 20.3 -35.3 -0.5 10.7 -3.4 -0.3 24.1 14.3 -0.8 -0.7 1.3 -0.9 10.9 116.8 28.0 63.6 -1.4 10.2 3.3 13.2 52.0 1.9 28.5 -1.5 12.6 4.2 6.2 48.2 7.6 23.5 0.6 3.7 3.7 9.2 46.9 6.9 23.1 -1.7 6.1 0.7 11.9 64.5 17.5 26.9 1.6 4.7 4.6 9.2 35.2 -4.0 24.0 3.2 1.6 3.2 7.1 46.4 10.0 20.0 -0.8 2.4 6.1 8.7 54.2 4.0 27.8 2.1 11.5 2.3 6.6 25.8 -17.2 22.7 -0.6 7.2 4.1 9.6 27 28 29 30 31 32 33 14.5 6.0 16.8 -7.4 9.4 -12.3 3.5 4.3 -1.2 0.8 -5.6 -10.7 10.7 5.6 -4.1 4.5 -5.6 4.0 16.9 9.4 21.0 7.9 34 35 0.9 -3.5 -14.8 -3.2 -5.7 -6.6 1.5 1.6 -13.3 4.6 15.8 6.8 5.3 7.6 10.9 6.0 21.5 12.1 7.2 21.7 -10.8 4.3 5.9 31.2 3.7 -18.6 11.1 9.9 -1.1 23.1 1.9 29.0 40.7 36 37 38 254.7 162.9 55.0 51.3 -185.8 -94.9 -308.1 -83.6 -256.6 274.1 -1.2 39 -0.5 0.5 -0.5 0.5 0.0 0.6 -3.0 1.0 -4.0 2.4 0.0 2.2 -8.0 3.2 -4.0 4.2 -4.0 -0.0 0.0 -1.1 0.0 1.1 40 41 21 22 Net financial investment Net acquisition of financial assets 23 24 25 26 Gold, SDRs, and official foreign exchange Checkable deposits and currency Time and savings deposits Security RPs 27 28 29 30 31 32 33 Credit market instruments Open market paper U.S. government agency securities (4) Municipal securities Corporate and foreign bonds Mortgages Other loans and advances (5) 34 35 Corporate equities Mutual fund shares 36 37 38 Trade receivables Taxes receivable Miscellaneous assets 39 Net increase in liabilities 40 41 SDR certificates Treasury currency 42 43 44 45 46 47 Credit market instruments Savings bonds Other Treasury securities (6) Budget agency securities Municipal securities Multifamily residential mortgages 170.6 2.0 177.4 -1.6 -7.2 -0.0 98.1 -0.5 41.4 -0.1 57.3 -0.0 -3.5 0.1 -84.7 2.0 79.1 0.0 -16.0 -0.2 -68.3 -0.2 52.7 0.0 -237.0 -1.7 -262.6 -1.0 28.2 0.0 -165.2 -3.5 -174.2 -2.1 14.5 0.0 -373.7 -2.1 -393.3 1.8 19.8 0.0 -155.4 -0.9 -177.1 -2.4 25.1 0.0 -253.9 -0.3 -305.8 -1.2 53.4 0.0 143.9 1.4 45.0 -2.2 99.7 0.0 -64.8 5.3 -180.9 1.1 109.7 0.0 42 43 44 45 46 47 48 49 50 Trade payables Insurance and pension reserves (7) Miscellaneous liabilities 31.6 55.7 -3.3 22.6 42.0 0.3 22.5 42.5 -7.1 29.7 42.5 -2.9 28.5 22.3 2.0 36.5 39.3 -7.6 23.1 41.9 5.4 27.5 36.3 7.9 27.1 -28.1 2.3 12.5 118.1 0.6 11.6 46.9 4.1 48 49 50 46.6 54.3 -28.3 -30.1 -33.4 114.1 -171.7 9.1 -85.2 255.8 -11.3 51 -365.6 152.2 -213.4 -287.1 158.9 -128.2 -192.6 248.0 55.5 -143.3 258.5 115.2 -66.9 279.8 212.9 -75.0 129.1 54.1 -71.4 416.3 344.9 -49.4 239.7 190.3 -71.7 334.2 262.5 -103.3 -1.4 -104.7 -135.5 263.1 127.6 52 53 54 51 Discrepancy 52 53 54 Memo: Current surplus less fixed investment (8) Adjustment between NIPA and FOF (9) Items to be financed (10) (1) This table is consistent with NIPA table 3.1 in the Survey of Current Business, Department of Commerce. (2) Railroad Retirement Board and federal government life insurance reserves. Saving transferred to the households and nonprofit organizations sector. Includes value of Treasury and agency securities held by state and local government employee retirement funds. (3) Table F.9, line 1. (4) Holdings by state and local governments may include small amounts of agency securities issued by the federal government. (5) Excludes loans to state and local governments. (6) Excludes Treasury securities owed to state and local governments. (7) Line 15 plus civil service retirement and disability fund, judicial retirement fund, military retirement fund, and foreign service retirement and disability fund. (8) Line 13 less line 19 (9) Line 14 plus line 16 less sum of lines 15, 20, and 51. (10) Line 52 plus line 53. 109 Z.1, September 18, 2001 L.106.c Consolidated Statement for Federal, State, and Local Governments Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1996 1 1998 1999 2000 2000 2001 Q1 Q2 Q3 Q4 Q1 Q2 1181.5 1223.0 1343.8 1548.7 1582.9 1549.6 1565.0 1593.6 1582.9 1642.0 1670.0 1 2 3 4 5 Gold, SDRs, and official foreign exchange Checkable deposits and currency Time and savings deposits Security RPs 44.9 66.1 74.9 147.8 42.0 73.8 81.8 151.4 51.0 51.5 95.8 158.5 44.5 120.1 107.5 163.5 40.9 57.8 117.8 173.3 44.0 75.7 104.4 176.4 41.5 87.2 106.5 174.0 39.7 81.4 109.7 177.0 40.9 57.8 117.8 173.3 39.2 60.4 118.3 178.0 38.0 83.6 116.1 182.3 2 3 4 5 6 Credit market instruments 537.9 562.2 679.1 764.3 812.6 776.0 792.1 800.9 812.6 826.2 832.6 6 59.7 116.2 4.6 49.7 167.9 139.8 74.0 115.4 3.9 51.0 167.0 150.8 102.0 179.0 2.5 61.2 170.3 164.1 103.9 207.5 1.0 73.8 207.5 170.5 111.5 231.0 1.6 77.5 211.2 179.9 105.6 213.3 0.6 75.3 207.7 173.5 110.0 220.0 1.0 76.5 208.8 175.8 109.0 226.0 1.8 76.9 209.6 177.6 111.5 231.0 1.6 77.5 211.2 179.9 112.5 237.9 2.1 80.4 211.7 181.5 108.2 243.6 2.0 82.2 212.8 183.9 7 8 9 10 11 12 46.8 41.0 79.0 33.6 102.0 21.3 115.0 25.6 115.1 26.4 113.2 22.9 115.0 24.3 117.6 25.4 115.1 26.4 108.6 28.8 118.6 30.7 13 14 24.0 46.8 151.2 20.8 46.9 131.8 22.3 49.5 112.7 22.9 72.0 113.5 28.1 87.9 123.0 25.4 91.4 120.2 26.9 77.0 120.7 27.7 90.4 123.9 28.1 87.9 123.0 31.7 111.5 139.3 31.9 90.7 145.6 15 16 17 5805.1 5967.1 6029.3 6083.4 5895.4 6070.5 5907.1 5886.9 5895.4 5970.4 5877.4 18 9.7 18.9 9.2 19.3 9.2 19.9 6.2 20.9 2.2 23.2 6.2 21.4 4.2 22.1 3.2 23.2 2.2 23.2 2.2 22.9 2.2 23.2 19 20 4578.0 187.0 3311.1 26.6 1053.3 0.0 4676.1 186.5 3352.5 26.5 1110.6 0.0 4672.6 186.6 3267.8 28.5 1189.7 0.0 4656.6 186.4 3199.5 28.3 1242.4 0.0 4419.6 184.8 2936.9 27.3 1270.6 0.0 4644.2 185.3 3183.3 27.8 1247.9 0.0 4464.4 184.6 2994.8 28.2 1256.7 0.0 4422.8 184.3 2956.3 27.6 1254.5 0.0 4419.6 184.8 2936.9 27.3 1270.6 0.0 4482.6 184.8 2973.3 26.8 1297.7 0.0 4373.3 186.0 2831.9 27.0 1328.4 0.0 21 22 23 24 25 26 599.3 591.9 7.3 621.9 634.0 6.6 644.4 676.5 6.7 674.1 719.0 6.6 702.7 741.3 6.4 683.9 708.2 6.6 690.7 719.2 6.5 697.9 733.3 6.6 702.7 741.3 6.4 706.4 749.8 6.5 710.4 762.1 6.4 27 28 29 7 8 9 10 11 12 Total financial assets 1997 Open market paper Agency securities (1) Municipal securities Corporate and foreign bonds Mortgages Other loans and advances (2) 13 14 Corporate equities Mutual fund shares 15 16 17 Trade receivables Taxes receivable Miscellaneous assets 18 Total liabilities 19 20 SDR certificates Treasury currency 21 22 23 24 25 26 Credit market instruments Savings bonds Other Treasury securities (3) Budget agency securities Municipal securities Multifamily residential mortgages 27 28 29 Trade payables Insurance and pension reserves Miscellaneous liabilities (1) Holdings by state and local governments may include small amounts of agency securities issued by the federal government. (2) Excludes loans to state and local governments. (3) Excludes Treasury securities owed to state and local governments. 110 Z.1, September 18, 2001 F.119.b Private Pension Funds: Defined Benefit Plans Billions of dollars 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 1 Net acquisition of financial assets 22.3 23.9 -3.2 27.5 11.8 47.8 45.2 -27.2 -40.6 -47.0 -32.4 -23.9 -36.0 1 2 3 4 5 Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 1.9 -3.5 0.0 1.6 -1.0 9.6 0.0 0.3 -0.5 -5.5 0.0 -1.7 -0.1 5.5 0.0 1.8 0.0 -9.1 0.0 -1.1 -0.0 6.4 0.0 -0.0 0.8 13.1 0.0 -4.2 0.3 4.8 0.0 -0.2 0.2 10.8 0.0 3.2 0.4 13.3 0.0 0.3 0.1 0.9 0.0 -0.3 0.5 4.3 0.0 1.2 0.3 3.4 0.0 1.3 2 3 4 5 6 Credit market instruments 28.3 41.6 32.0 12.8 17.1 22.9 35.6 24.1 -8.9 39.7 43.4 39.2 18.8 6 7 8 9 10 Open market paper U.S. government securities Treasury Agency -3.9 15.2 1.7 13.5 -2.5 29.7 7.9 21.8 -1.7 21.1 0.6 20.5 1.8 3.9 -8.9 12.8 -1.1 0.4 -11.0 11.5 -0.0 10.4 -5.6 15.9 -4.2 40.8 10.1 30.7 -0.2 6.7 2.0 4.7 3.2 -15.4 -4.6 -10.8 0.3 12.3 3.7 8.6 -0.3 28.7 -1.8 30.5 1.2 24.5 -0.1 24.6 1.3 15.0 0.2 14.8 7 8 9 10 11 12 Corporate and foreign bonds Mortgages 11.2 5.9 8.8 5.6 11.2 1.5 13.8 -6.8 20.8 -3.1 14.0 -1.4 2.7 -3.7 17.4 0.2 3.1 0.1 26.5 0.6 13.9 1.1 12.6 0.9 2.1 0.4 11 12 -0.4 -0.6 -22.4 0.0 0.2 0.4 2.0 1.4 8.7 2.3 6.8 4.4 -3.8 3.7 -51.1 1.9 -55.3 -2.2 -100.9 1.3 -78.8 1.8 -77.0 2.4 -67.0 -0.3 13 14 -5.1 -15.2 -0.3 10.4 -4.2 -1.9 4.4 -6.8 -28.0 -6.2 2.8 -24.6 4.1 -2.2 8.2 -1.9 -6.1 -5.0 5.6 -6.7 7.3 -0.6 7.4 0.6 0.1 -5.1 6.2 -1.0 -6.9 -6.0 -0.3 -0.6 11.7 2.3 -0.3 9.7 -1.2 -5.6 3.5 0.9 0.6 1.6 0.0 -1.0 5.5 1.9 0.0 3.6 7.6 2.4 0.0 5.2 15 16 17 18 13 14 Corporate equities Mutual fund shares 15 16 17 18 Miscellaneous assets Unallocated insurance contracts (1) Contributions receivable Other (1) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4. F.119.c Private Pension Funds: Defined Contribution Plans (1) Billions of dollars 1 Net acquisition of financial assets 46.7 38.7 32.2 66.3 56.6 56.2 45.8 59.4 45.2 35.7 44.1 35.5 54.6 1 2 3 4 5 Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 0.9 14.4 2.0 0.6 0.6 17.9 2.9 1.8 -0.3 1.3 -0.0 0.4 -0.3 0.1 1.0 1.9 -0.1 -8.0 1.0 1.3 0.2 -9.9 6.5 0.9 0.1 -6.3 5.3 -2.0 0.4 -0.2 6.0 0.2 0.4 -5.5 10.8 1.3 0.8 -5.8 13.1 0.6 0.1 0.5 1.9 1.3 0.7 -8.3 11.7 -0.8 0.4 -1.5 5.9 -0.4 2 3 4 5 6 Credit market instruments -4.7 12.2 14.1 15.2 11.9 16.3 7.8 -4.2 4.8 7.9 13.0 5.7 22.5 6 7 8 9 10 Open market paper U.S. government securities Treasury Agency -2.2 0.5 -0.3 0.9 1.8 6.0 4.0 2.0 1.3 3.9 1.8 2.1 1.4 6.2 6.1 0.0 0.9 4.3 5.2 -0.9 0.7 2.0 3.8 -1.8 -2.0 20.3 10.2 10.2 0.7 -1.5 0.6 -2.0 2.4 2.1 1.9 0.2 0.9 -0.5 0.4 -0.9 3.2 5.8 -2.6 8.4 2.5 5.5 -0.5 6.0 -3.1 11.8 -1.0 12.9 7 8 9 10 11 12 Corporate and foreign bonds Mortgages -5.7 2.6 3.4 1.0 8.7 0.1 7.6 0.1 7.3 -0.6 13.8 -0.2 -9.1 -1.4 -3.9 0.5 -0.2 0.5 7.4 0.1 3.2 0.8 -3.3 1.0 12.4 1.3 11 12 7.2 0.1 -11.5 5.1 0.7 6.2 11.3 9.8 28.8 13.0 15.1 22.4 5.8 20.1 -18.4 43.1 -16.2 25.3 -36.9 41.4 -34.2 30.0 -15.2 28.3 -13.8 32.7 13 14 26.2 17.0 -0.9 10.1 9.7 14.2 2.8 -7.3 9.9 15.9 3.2 -9.2 27.3 23.0 3.9 0.4 8.8 10.6 4.4 -6.2 4.6 12.9 4.9 -13.2 15.0 8.9 5.5 0.6 32.6 23.7 4.4 4.5 24.2 12.2 4.3 7.7 14.7 4.6 3.6 6.5 31.4 19.8 1.9 9.7 13.4 11.6 1.0 0.9 8.8 6.7 1.0 1.1 15 16 17 18 13 14 Corporate equities Mutual fund shares 15 16 17 18 Miscellaneous assets Unallocated insurance contracts (2) Contributions receivable Other (1) Includes 401(k) type plans and the Federal Employees Retirement System Thrift Savings Plan. (2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4. F.225.i Individual Retirement Accounts (IRAs) (1) Billions of dollars 1 2 3 4 5 6 7 8 Total held at: Commercial banking Saving institutions Credit unions Life insurance companies Money market mutual funds Mutual funds Other self-directed accounts 50.4 56.9 89.6 67.4 58.5 49.1 53.0 58.5 52.8 68.5 91.7 112.5 117.0 1 11.1 12.0 1.5 8.0 5.0 8.0 4.7 15.6 7.3 1.9 -1.3 9.0 10.6 13.9 21.6 -2.6 3.2 4.4 13.0 10.4 39.6 16.6 -3.8 3.6 7.1 -1.0 41.7 3.2 -0.5 -8.3 0.9 4.9 3.0 38.9 19.5 -2.9 -9.1 -0.3 12.6 6.0 59.4 -16.6 -1.1 -6.3 -0.0 13.2 13.0 13.5 20.9 6.5 -1.9 1.2 11.2 14.0 64.1 -36.5 0.7 -3.9 0.9 10.3 15.0 49.8 -20.0 0.1 -6.0 1.2 47.5 2.0 80.3 -56.5 -0.5 -5.3 0.3 24.6 24.0 84.8 -36.2 -3.4 -3.0 0.9 41.4 22.0 81.9 -27.3 8.9 -2.3 0.4 10.1 1.0 67.3 31.4 2 3 4 5 6 7 8 (1) Assets of the household sector (F.100). IRA assets are not included in pension fund reserves (table F.225), except for those at life insurance companies. Figures for depositories (lines 2 through 4) include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 5) and are excluded from the mutual fund sector (line 7). 111 Z.1, September 18, 2001 L.119.b Private Pension Funds: Defined Benefit Plans Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total financial assets 2 3 4 5 Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 6 Credit market instruments 7 8 9 10 Open market paper U.S. government securities Treasury Agency 11 12 Corporate and foreign bonds Mortgages 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 812.8 921.5 899.9 1051.7 1079.9 1195.1 1276.0 1460.5 1579.0 1746.8 1900.8 2143.0 2061.6 1 2.5 47.3 0.0 16.5 1.6 56.9 0.0 16.8 1.0 51.3 0.0 15.0 1.0 56.8 0.0 16.9 1.0 47.6 0.0 15.8 1.0 54.1 0.0 15.8 1.8 67.1 0.0 11.6 2.1 71.9 0.0 11.4 2.2 82.7 0.0 14.6 2.6 96.0 0.0 14.9 2.7 97.0 0.0 14.6 3.2 101.2 0.0 15.8 3.5 104.7 0.0 17.1 2 3 4 5 276.4 318.0 349.9 362.7 379.8 402.7 438.3 462.4 453.5 493.1 536.5 575.8 594.6 6 19.2 154.3 85.1 69.2 16.8 184.0 93.0 91.0 15.0 205.1 93.6 111.5 16.9 209.0 84.7 124.3 15.8 209.4 73.7 135.8 15.8 219.8 68.1 151.7 11.6 260.6 78.2 182.4 11.4 267.3 80.2 187.1 14.6 252.0 75.6 176.4 14.9 264.2 79.3 185.0 14.6 293.0 77.5 215.5 15.8 317.5 77.4 240.1 17.1 332.6 77.6 254.9 7 8 9 10 90.2 12.6 99.0 18.2 110.1 19.7 123.9 13.0 144.7 9.9 158.7 8.5 161.4 4.7 178.8 4.9 181.9 5.0 208.4 5.6 222.3 6.7 234.9 7.6 237.0 8.0 11 12 13 14 Corporate equities Mutual fund shares 300.6 6.5 358.9 6.8 341.4 6.8 458.6 11.4 484.5 15.6 555.6 22.3 559.9 39.0 699.6 54.8 785.8 63.8 876.0 81.4 960.9 99.4 1114.0 126.9 1008.6 121.8 13 14 15 16 17 18 Miscellaneous assets Unallocated insurance contracts (1) Contributions receivable Other 163.0 78.2 9.7 75.2 162.7 80.1 14.1 68.4 134.3 73.6 16.9 43.8 144.3 77.3 25.1 41.9 135.5 69.6 30.7 35.2 143.5 69.7 38.0 35.8 158.2 79.2 44.2 34.8 158.3 80.3 43.9 34.2 176.4 88.9 43.6 43.9 182.6 90.7 47.1 44.8 189.7 98.8 47.1 43.8 206.0 111.4 47.2 47.4 211.3 111.6 47.2 52.6 15 16 17 18 (1) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4. L.119.c Private Pension Funds: Defined Contribution Plans (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Total financial assets 594.7 712.8 734.6 888.0 971.5 1108.4 1183.8 1462.9 1672.1 1999.8 2303.7 2531.0 2525.7 1 2 3 4 5 Checkable deposits and currency Time and savings deposits Money market fund shares Security RPs 2.0 39.9 14.8 6.2 2.6 57.8 17.8 8.1 2.3 59.1 17.8 8.5 2.0 59.2 18.8 10.4 2.0 51.1 19.8 11.6 2.2 41.3 26.3 12.6 2.3 35.0 31.6 10.6 2.7 34.7 37.5 10.7 3.1 29.3 48.4 12.1 4.0 23.4 61.4 12.7 4.1 24.0 63.4 14.0 4.8 15.6 75.1 13.1 5.2 14.2 81.0 12.7 2 3 4 5 6 Credit market instruments 95.5 107.6 121.7 136.9 148.8 165.2 173.0 168.8 173.6 181.5 194.4 200.2 222.6 6 7 8 9 10 Open market paper U.S. government securities Treasury Agency 8.2 47.8 30.3 17.5 10.0 53.8 34.3 19.5 11.3 57.7 36.1 21.6 12.7 63.9 42.2 21.7 13.6 68.2 47.5 20.7 14.3 70.2 51.2 18.9 12.3 90.5 61.4 29.1 13.0 89.0 62.0 27.1 15.4 91.1 63.8 27.3 16.3 90.7 64.3 26.4 19.5 96.5 61.7 34.8 22.0 102.0 61.1 40.8 18.9 113.8 60.1 53.7 7 8 9 10 11 12 Corporate and foreign bonds Mortgages 35.4 4.0 38.8 5.1 47.5 5.2 55.1 5.3 62.4 4.7 76.2 4.5 67.1 3.1 63.2 3.6 63.0 4.0 70.4 4.1 73.5 4.9 70.3 5.9 82.7 7.2 11 12 13 14 Corporate equities Mutual fund shares 214.6 16.9 276.6 26.2 264.8 33.7 348.6 55.0 391.5 80.6 463.0 119.9 459.9 166.9 589.6 272.0 678.1 348.5 820.4 488.2 941.3 609.9 1042.9 703.1 992.5 715.9 13 14 15 16 17 18 Miscellaneous assets Unallocated insurance contracts (2) Contributions receivable Other 204.8 108.7 9.3 86.7 216.1 124.6 12.2 79.4 226.8 141.2 15.4 70.2 257.1 167.2 19.3 70.6 266.1 178.0 23.7 64.4 278.0 198.2 28.6 51.3 304.7 218.7 34.1 51.9 346.8 252.0 38.5 56.4 379.1 272.2 42.8 64.1 408.3 291.3 46.4 70.6 452.6 324.0 48.3 80.3 476.2 345.7 49.3 81.2 481.6 349.1 50.3 82.2 15 16 17 18 (1) Includes 401(k) type plans and the Federal Employees Retirement System Thrift Savings Plan. (2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4. L.225.i Individual Retirement Accounts (IRAs) (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 2 3 4 5 6 7 8 Total held at: Commercial banking Saving institutions Credit unions Life insurance companies Money market mutual funds Mutual funds Other self-directed accounts 452.0 546.0 637.0 776.0 873.0 993.0 1056.0 1288.0 1467.0 1728.0 2150.0 2663.0 2650.0 1 95.4 101.6 22.4 38.9 19.0 73.4 101.3 111.0 108.9 24.3 37.9 28.0 93.0 143.0 132.6 106.3 27.5 42.0 41.0 97.9 189.7 149.2 102.5 31.1 49.7 40.0 144.0 259.5 148.6 94.2 32.1 55.6 43.0 189.0 310.5 145.8 85.1 31.8 69.5 49.0 265.7 346.1 144.7 78.9 31.8 78.7 62.0 279.4 380.6 151.1 76.9 33.0 94.3 76.0 386.6 470.1 151.9 73.0 33.8 110.3 91.0 489.0 517.9 152.0 67.0 35.0 160.0 93.0 649.0 572.0 151.4 61.8 35.3 190.1 117.0 809.0 785.4 148.0 58.7 36.2 245.5 139.0 1060.0 975.6 156.9 56.5 36.7 245.8 140.0 1048.0 966.1 2 3 4 5 6 7 8 (1) Assets of the household sector (L.100), shown at market value. IRA assets are not included in pension fund reserves (table L.225), except for those at life insurance companies. Figures for depositories (lines 2 through 4) include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 5) and are excluded from the mutual fund sector (line 7). 112 Flow of Funds Matrix for 2000 Z.1, September 18, 2001 (Billions of dollars; All Sectors -- Flows) Households and Nonprofit Organizations 1 2 3 Gross saving and net cap. transfers Capital consumption Net saving (1 less 2) State and Local Governments Nonfinancial Business Domestic Nonfinancial Sectors Federal Government Rest of the World Financial Sectors Instrument Discrepancy All Sectors U S U S U S U S U S U S U S U S U (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17) Memo: National Saving and Investment (18) ---- 1012.7 730.0 318.2 ---- 966.9 773.2 193.7 ---- 191.9 114.9 77.0 ---- 305.2 96.4 208.8 ---- 2476.7 1714.5 797.7 ---- 429.8 -429.8 ---- 129.2 97.6 31.7 ---- 3035.8 1812.1 1223.6 ---- 2606.0 1812.1 793.9 4 5 6 7 8 9 10 Gross investment (5 plus 11) Capital expenditures Consumer durables Residential Nonresidential Inventory change Access rights from fed. govt. 1006.7 1253.6 819.7 364.8 69.2 --- -------- 1051.7 1221.1 -60.2 1110.9 49.4 0.6 -------- 220.5 221.8 --221.8 --- -------- 310.1 95.9 --96.5 --0.6 -------- 2589.0 2792.4 819.7 425.0 1498.4 49.4 0.0 -------- 444.0 ------- -------- 51.2 113.0 -0.1 112.9 --- -------- 3084.1 2905.4 819.6 425.1 1611.3 49.4 -- -------- -48.4 130.4 ------ 2461.4 2905.4 819.6 425.1 1611.3 49.4 -- 11 12 13 Net financial investment Financial uses Financial sources -246.9 307.9 -- --554.8 -169.4 704.6 -- --874.0 -1.3 53.3 -- --54.5 214.2 -57.8 -- ---272.0 -203.4 1008.0 -- --1211.4 444.0 940.5 -- --496.5 -61.8 2353.1 -- --2414.9 178.8 4301.5 -- --4122.8 -178.8 -178.8 -- -444.0 496.5 940.5 ---7.7 --47.4 311.4 131.3 -- ---------- ----3.9 -54.3 2.9 50.4 -0.1 ---------- -----1.0 9.4 -9.7 ---------- -0.6 -----65.1 1.0 --- --4.0 2.4 ------- -0.6 --3.9 --57.2 324.7 181.8 9.6 --4.0 2.4 ------- -0.7 ----11.5 -8.2 5.7 -5.1 -0.4 --120.8 ------ 0.9 -4.0 3.6 48.2 -26.1 -16.7 -21.3 51.6 -14.6 -----20.3 -71.5 309.1 233.3 110.9 -0.4 -4.0 3.6 52.1 -37.7 -82.1 309.1 233.3 0.0 -0.4 -4.0 2.4 120.8 -20.3 -71.5 309.1 233.3 110.9 ---1.2 68.7 17.4 10.7 --110.9 ---------- 14 15 16 17 18 19 20 21 22 Gold and off. fgn. exchange SDR certificates Treasury currency Foreign deposits Interbank claims Checkable dep. and currency Time and savings deposits Money market fund shares Fed. funds and security RPs 23 24 25 26 27 28 29 30 31 32 Credit market instruments Open market paper Treasury securities Federal agency securities Municipal securities Corporate and fgn. bonds Bank loans n.e.c. Other loans and advances Mortgages Consumer credit -137.1 5.0 -164.3 4.2 14.5 2.0 --1.5 -- 543.0 ---5.8 -8.2 16.4 380.4 132.3 7.6 -0.4 -13.9 5.7 11.0 ---2.9 2.4 594.8 48.1 --1.4 175.0 94.9 88.8 186.6 -- 9.2 7.6 -30.6 23.5 0.6 3.7 --4.5 -- 27.2 ---28.2 ---1.0 --- 7.3 --0.0 ---8.2 -0.9 -- -295.9 --294.9 -1.0 ----0.0 -- -112.9 12.1 -208.8 33.3 26.1 5.7 -8.2 8.1 2.4 869.1 48.1 -294.9 -1.0 35.3 175.0 103.1 104.2 567.0 132.3 279.3 8.7 -63.0 152.7 -183.1 --2.2 --- 96.0 31.7 ---54.3 11.3 -1.3 --- 1608.9 186.7 -23.1 246.4 9.3 241.1 114.1 139.3 565.1 130.0 810.1 127.7 -433.5 -200.5 -0.3 42.5 6.2 -- 1775.3 207.6 -294.9 432.5 35.3 429.8 114.1 145.3 573.2 132.3 1775.3 207.6 -294.9 432.5 35.3 429.8 114.1 145.3 573.2 132.3 ----------- ----------- 33 34 35 36 Corporate equities Mutual fund shares Trade credit Security credit -484.1 229.8 -84.9 --5.9 5.8 --1.8 143.5 -- -166.6 -115.4 -- -1.2 0.8 --- --27.4 -- --5.3 -- --1.2 -- -485.3 228.8 148.8 84.9 -166.6 -149.8 5.8 193.8 -10.4 0.0 99.7 -1.6 0.0 196.6 15.1 34.0 56.1 -27.9 243.9 5.0 135.2 -94.8 243.9 193.2 141.0 -94.8 243.9 156.4 141.0 ---36.8 -- ----- 37 38 39 40 41 42 Life insurance reserves Pension fund reserves Taxes payable Inv. in bank personal trusts Equity in noncorp. business Miscellaneous 50.2 216.9 --29.7 -30.7 4.7 -----0.1 -----451.7 --14.5 --59.1 375.1 --11.9 --12.3 ------- ---4.3 ---1.4 1.4 20.9 ---2.0 50.2 216.9 7.6 -29.7 -30.7 467.3 1.4 20.9 14.5 --59.1 377.2 -----466.6 -----178.8 -----420.8 48.7 196.0 7.3 -29.7 28.3 436.2 50.2 216.9 7.6 -29.7 -30.7 1354.7 50.2 216.9 21.7 -29.7 -30.7 992.3 --14.1 ---362.4 ------- 43 Sector discrepancies (1 less 4) 6.0 -- -84.8 -- -28.6 -- -4.8 -- -112.2 -- -14.2 -- 78.1 -- -48.4 -- -48.4 144.6 General notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Flow of Funds Matrix for 2000 Z.1, September 18, 2001 (Billions of dollars; All Sectors -- Assets and Liabilities) Households and Nonprofit Organizations State and Local Governments Nonfinancial Business Domestic Nonfinancial Sectors Federal Government Rest of the World Financial Sectors Instrument Discrepancy All Sectors A L A L A L A L A L A L A L A L (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17) 1 2 3 Total financial assets Total liabilities and equity Total liabilities 33138.5 --- -7455.7 7455.7 9466.1 --- -28402.3 11241.3 1321.0 --- -1915.2 1915.2 506.7 --- -4225.0 4225.0 44432.3 --- -41998.2 24837.2 7368.9 --- -5315.3 3528.3 36872.1 --- -39226.7 36221.2 88673.3 --- -86540.2 64586.8 -2133.1 --- 4 5 6 7 8 9 10 Monetary gold and SDRs IMF Position Official foreign exchange SDR certificates Treasury currency Foreign deposits Interbank claims -----51.3 -- -------- -----22.2 -- -------- -------- -------- 10.5 15.2 15.3 ----- ---2.2 23.2 --- 10.5 15.2 15.3 --73.5 -- ---2.2 23.2 --- ------127.9 -15.1 30.9 --824.5 -- 11.0 -0.1 15.7 2.2 31.6 91.1 64.4 ------188.0 21.5 15.1 30.9 2.2 31.6 164.6 192.3 -15.1 30.9 2.2 23.2 824.5 188.0 -21.5 ----8.5 659.9 -4.3 11 12 13 14 Checkable dep. and currency Time and savings deposits Money market fund shares Fed. funds and security RPs 231.2 3264.0 1003.0 -- ----- 685.7 143.0 230.3 5.2 ----- 33.2 111.5 -173.3 ----- 24.6 6.3 --- ----- 974.6 3524.8 1233.3 178.5 ----- 290.1 107.2 -91.9 ----- 127.2 284.4 578.8 549.5 1413.3 3916.4 1812.1 1194.3 1391.9 3916.4 1812.1 819.9 1413.3 3916.4 1812.1 1194.3 21.4 --374.4 15 16 17 18 19 20 21 22 23 24 Credit market instruments Open market paper Treasury securities Federal agency securities Municipal securities Corporate and fgn. bonds Bank loans n.e.c. Other loans and advances Mortgages Consumer credit 1977.3 72.7 331.6 288.4 541.1 631.7 --111.8 -- 7063.8 ---143.0 -73.9 246.3 5034.1 1566.5 324.4 43.3 39.6 18.2 36.9 ---103.9 82.7 6559.4 278.4 --154.2 2234.5 1260.7 834.9 1796.8 -- 792.0 111.5 236.2 231.0 1.6 77.5 --134.3 -- 1279.3 ---1270.6 --8.7 --- 265.4 --0.0 ---188.6 76.9 -- 3385.2 -3357.8 27.3 ----0.0 -- 3359.2 227.5 607.4 537.6 579.6 709.2 -188.6 426.8 82.7 18287.7 278.4 3357.8 27.3 1567.8 2234.5 1334.6 1089.9 6831.0 1566.5 3004.6 111.0 1222.0 550.3 -1003.9 -117.3 --- 775.8 120.9 ---533.7 70.7 50.5 --- 21118.1 1271.5 1528.5 3256.8 988.2 3331.5 1497.9 1272.7 6487.1 1483.8 8418.4 1210.7 -4317.4 -2276.5 92.6 438.3 82.9 -- 27481.9 1610.0 3357.8 4344.8 1567.8 5044.6 1497.9 1578.6 6913.9 1566.5 27481.9 1610.0 3357.8 4344.8 1567.8 5044.6 1497.9 1578.6 6913.9 1566.5 ----------- 25 26 27 28 Corporate equities Mutual fund shares Trade credit Security credit 7042.9 3043.2 -408.7 --138.6 233.7 -98.8 2001.2 -- 12243.1 -1525.9 -- 115.1 26.4 --- --635.9 -- --28.1 -- --66.7 -- 7158.0 3168.4 2029.4 408.7 12243.1 -2367.2 233.7 1748.3 -52.5 0.0 1787.0 -52.1 0.0 8162.4 1288.7 284.6 408.8 3038.7 4457.2 35.9 583.9 17068.8 4457.2 2366.5 817.6 17068.8 4457.2 2455.2 817.6 --88.7 -- 29 30 31 32 33 34 Life insurance reserves Pension fund reserves Taxes payable Inv. in bank personal trusts Equity in noncorp. business Miscellaneous 819.1 9054.8 -1019.4 4884.7 338.9 -----19.6 -----5955.2 --154.3 -4917.9 3001.7 --45.6 --24.1 ------- --42.4 --98.9 36.4 704.9 ---6.4 819.1 9054.8 87.9 1019.4 4884.7 6417.0 36.4 704.9 154.3 -4917.9 3027.7 -----1946.4 -----1829.9 -----3853.5 782.7 8349.9 62.1 1019.4 -33.2 3987.5 819.1 9054.8 87.9 1019.4 4884.7 12216.9 819.1 9054.8 216.4 1019.4 4884.7 8845.1 --128.5 ---3371.8 General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is the sum of corporate equities (line 25) and equity in noncorporate business (line 33). The matrix shows a discrepancy in column 17 for monetary gold and SDRs (line 4) because by international accounting convention, such instruments are financial assets without corresponding liabilities. 113 114 Z.1, September 18, 2001 B.100.e Balance Sheet of Households and Nonprofit Organizations with Equity Detail (1) Billions of dollars; amounts outstanding end of period, not seasonally adjusted 1 Assets 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 23550.6 24174.3 25828.8 26883.4 28312.9 29277.0 32333.0 35150.3 39240.3 43192.3 48717.6 48416.4 1 2 Tangible assets 9124.4 9326.1 9447.2 9686.6 9908.2 10228.5 10696.8 11189.5 11923.2 12802.1 13804.8 15277.9 2 3 Financial assets 14426.3 14848.1 16381.6 17196.8 18404.7 19048.5 21636.2 23960.8 27317.1 30390.2 34912.8 33138.5 3 4 5 Deposits Credit market instruments 3211.9 1316.2 3259.5 1556.3 3254.2 1634.4 3222.8 1684.8 3159.7 1666.4 3117.5 1953.4 3306.9 1927.8 3451.4 2082.5 3636.7 2018.6 3986.3 1941.8 4146.3 2151.6 4549.4 1977.3 4 5 6 Equity shares at market value 3361.7 3135.6 4363.2 4896.2 5696.2 5688.7 7644.4 9165.4 11740.7 13714.7 17290.2 14686.3 6 7 Directly held 1946.5 1781.4 2548.7 2869.2 3246.8 3097.2 4182.9 4872.3 6209.5 7190.4 9284.7 7042.9 7 8 Indirectly held 1415.2 1354.2 1814.5 2026.9 2449.3 2591.5 3461.6 4293.2 5531.2 6524.2 8005.4 7643.3 8 231.9 59.3 649.6 361.8 287.8 277.8 196.7 214.1 57.8 622.7 344.0 278.6 284.6 175.1 271.7 93.8 840.9 463.2 377.7 379.1 229.0 268.7 113.3 930.7 490.8 439.9 428.5 285.7 262.0 163.5 1100.5 565.5 534.9 497.3 426.0 263.6 199.6 1142.0 578.6 563.3 507.6 478.7 365.2 274.7 1501.8 729.9 771.9 678.9 641.1 432.9 373.3 1720.0 825.9 894.1 828.5 938.5 541.7 510.5 2083.4 931.0 1152.4 1084.8 1310.9 585.5 665.4 2398.2 1030.0 1368.3 1233.9 1641.1 682.2 904.4 2786.1 1208.8 1577.3 1343.2 2289.6 562.3 882.8 2634.0 1097.4 1536.6 1344.6 2219.6 9 10 11 12 13 14 15 9 10 11 12 13 14 15 Bank personal trusts and estates Life insurance companies Private pension funds Defined benefit plans Defined contribution plans State and local govt. retirement funds Mutual funds 16 Other 6536.5 6896.7 7129.8 7393.1 7882.5 8288.9 8757.0 9261.4 9921.1 10747.5 11324.8 11925.5 16 17 Liabilities 3471.6 3746.8 3961.4 4168.4 4440.8 4759.6 5111.0 5440.4 5808.7 6291.9 6881.8 7455.7 17 18 Net worth 20079.0 20427.5 21867.3 22715.0 23872.1 24517.4 27222.0 29709.8 33431.5 36900.4 41835.8 40960.7 18 2722.1 2507.0 3521.0 3976.8 4633.3 4602.4 6235.7 7511.1 9725.0 11450.8 14738.2 12244.2 19 14.3 23.3 13.0 21.1 16.9 26.6 18.2 28.5 20.1 30.9 19.4 29.9 23.6 35.3 26.1 38.3 29.9 43.0 31.8 45.1 35.5 49.5 30.3 44.3 20 21 Memo: 19 20 21 Equity shares excluding defined benefit plans (line 6 minus lines 12 and 14) Equity shares (line 6) as a percent of Total assets (line 1) Financial assets (line 3) (1) Estimates of equity shares (lines 7 through 15) could differ from other sources owing to alternative definitions of ownership of equity by households. Prior to 1985, all pension assets are assumed to have been in defined benefit plans.
@FedFRASER