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FEDERAL RESERVE statistical release
Z.1
Flow of Funds Accountsof the United States
Flows and Outstandings
Fourth Quarter 2009
Board of Governors of the Federal Reserve System, Washington DC 20551
CC
Flow of Funds Summary StatisticsFourth Quarter 2009
Debt of the domestic nonfinancial sectors isestimated to have expanded at a seasonally adjustedannual rate of 1½ percent in the fourth quarter of 2009,about 1¼ percentage points slower than in the previousquarter. Private debt contracted in the fourth quarter,while government debt continued to expand, albeit at aslower pace than in the preceding quarter. For 2009 as awhole, domestic nonfinancial debt rose 3¼ percent,about 2½ percentage points below the 2008 pace.Household debt contracted at an annual rate of 1¼ percent in the fourth quarter, its seventh consecutivequarter of decline. Home mortgage debt fell at anannual rate of ¾ percent, a significantly slower declinethan in the third quarter, while consumer creditcontracted at an annual rate of 5¾ percent. In 2009,household debt contracted 1¾ percent, the first yearlydecline in household debt reported in the flow of fundsaccounts.Nonfinancial business debt contracted at anannual rate of 3¼ percent in the fourth quarter, with allcredit market instruments except corporate bondsshowing a decline. The 1¾ percent decline innonfinancial business debt in 2009 as a whole was thefirst yearly decline since the early 1990s.State and local government debt expanded atan annual rate of 4¾ percent last quarter, about thesame as for the year 2009 as a whole. Federalgovernment debt increased at an annual rate of 12½percent in the fourth quarter, about half the rate of thepast two years; for the year 2009, federal governmentdebt rose almost 23 percent.At the end of the fourth quarter of 2009, thelevel of domestic nonfinancial debt outstanding was$34.7 trillion; household debt was $13.5 trillion,nonfinancial business debt was $11.0 trillion, and totalgovernment debt was $10.2 trillion.Household net worth—the difference betweenthe value of assets and liabilities—was an estimated$54.2 trillion at the end of the fourth quarter, up$0.7 trillion from the third quarter. For 2009 as awhole, household net worth increased $2.8 trillion.
Growth of Domestic Nonfinancial Debt
P
1
P
Percentage changes; quarterly data are seasonally adjusted annual rates
Total Households BusinessState andlocal govts.Federal
20005.0 9.1 9.3 1.4 -8.02001 6.3 9.6 5.7 8.8 -0.220027.4 10.8 2.8 11.1 7.620038.1 11.8 2.3 8.3 10.920048.9 11.0 6.3 7.3 9.020059.5 11.1 8.8 10.2 7.020069.0 10.0 10.5 8.3 3.920078.7 6.7 13.4 9.5 4.920085.9 0.1 5.2 2.5 24.220093.3 -1.7 -1.8 4.8 22.72008:Q15.5 3.1 7.8 3.9 8.1Q23.2 -0.0 6.4 1.8 5.9Q38.1 -0.6 5.0 3.9 39.2Q46.1 -1.9 1.2 0.2 37.02009:Q14.2 -1.3 0.4 4.7 22.6Q24.5 -1.7 -2.1 4.1 28.2Q3 2.9 -2.7 -2.3 5.5 20.6Q41.6 -1.2 -3.2 4.7 12.61. Changes shown are on an end-of-period basis.
Table of Contents
Title Table Page
Flow of Funds Accounts, Fourth Quarter 2009 1Availability of Data for Latest Quarter 4Debt Growth by Sector D.1 7Borrowing by Sector D.2 8Debt Outstanding by Sector D.3 9
Flows
Levels
Title Table Page Table Page
Summaries
Total Net Borrowing and Lending in Credit Markets F.1 10 L.1 60Credit Market Borrowing by Nonfinancial Sectors F.2 11 L.2 61Credit Market Borrowing by Financial Sectors F.3 11 L.3 61Credit Market Borrowing, All Sectors, by Instrument F.4 12 L.4 62Total Liabilities and Its Relation to Total Financial Assets F.5 12 L.5 62Distribution of Gross Domestic Product F.6 13Distribution of National Income F.7 14Saving and Investment F.8 15Net Capital Transfers F.9 16Derivation of Measures of Personal Saving F.10 17 L.10 63
Sections
« prev | next »- Availability of Data for Latest Quarter
- D.1 Debt Growth by Sector 1
- D.2 Borrowing by Sector
- D.3 Debt Outstanding by Sector 1
- F.100 Households and Nonprofit Organizations (1)
- F.101 Nonfinancial Business (1)
- F.102 Nonfarm Nonfinancial Corporate Business
- F.103 Nonfarm Noncorporate Business
- F.106 Federal Government
- F.107 Rest of the World
- F.110 U.S.-Chartered Commercial Banks
- F.111 Foreign Banking Offices in U.S. (1)
- F.112 Bank Holding Companies
- F.113 Banks in U.S.-Affiliated Areas (1)
- F.114 Savings Institutions (1)
- F.115 Credit Unions
- F.116 Property-Casualty Insurance Companies
- F.117 Life Insurance Companies
- F.118 Private Pension Funds (1)
- F.119 State and Local Government Employee Retirement Funds
- F.120 Federal Government Retirement Funds (1)
- F.121 Money Market Mutual Funds (1)
- F.207 Federal Funds and Security Repurchase Agreements
- F.210 Agency- and GSE-backed Securities (1)
- F.211 Municipal Securities and Loans
- F.212 Corporate and Foreign Bonds
- F.215 Bank Loans Not Elsewhere Classified
- F.216 Other Loans and Advances
- F.219 Multifamily Residential Mortgages
- F.220 Commercial Mortgages
- F.222 Consumer Credit
- F.223 Trade Credit
- F.224 Security Credit
- F.225 Life Insurance and Pension Fund Reserves
- F.226 Taxes Payable by Businesses
- F.227 Proprietors’ Equity in Noncorporate Business
- F.228 Total Miscellaneous Financial Claims
- F.229 Identified Miscellaneous Financial Claims - Part I
- F.230 Identified Miscellaneous Financial Claims - Part II
- F.231 Unidentified Miscellaneous Financial Claims
- F.11 Sector Discrepancies
- F.12 Instrument Discrepancies
- L.5 Total Liabilities and Its Relation to Total Financial Assets
- L.100 Households and Nonprofit Organizations (1)
- L.102 Nonfarm Nonfinancial Corporate Business
- L.103 Nonfarm Noncorporate Business
- L.105 State and Local Governments (1)
- L.110 U.S.-Chartered Commercial Banks
- L.111 Foreign Banking Offices in U.S. (1)
- L.113 Banks in U.S.-Affiliated Areas (1)
- L.116 Property-Casualty Insurance Companies
- L.119 State and Local Government Employee Retirement Funds
- L.120 Federal Government Retirement Funds (1)
- L.121 Money Market Mutual Funds (1)
- L.123 Closed-End and Exchange-Traded Funds
- L.125 Agency- and GSE-backed Mortgage Pools (1)
- L.126 Issuers of Asset-Backed Securities (ABS)
- L.200 Gold and Official Foreign Exchange Holdings (1)
- L.201 SDR Certificates and Treasury Currency
- L.202 U.S. Deposits in Foreign Countries
- L.207 Federal Funds and Security Repurchase Agreements
- L.210 Agency- and GSE-backed Securities (1)
- L.211 Municipal Securities and Loans
- L.215 Bank Loans Not Elsewhere Classified
- L.219 Multifamily Residential Mortgages
- L.225 Life Insurance and Pension Fund Reserves
- L.227 Proprietors’ Equity in Noncorporate Business
- L.228 Total Miscellaneous Financial Claims
- L.229 Identified Miscellaneous Financial Claims - Part I
- L.230 Identified Miscellaneous Financial Claims - Part II
- L.231 Unidentified Miscellaneous Financial Claims
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