58

Z.1, March 4, 2004

L.1 Credit Market Debt Outstanding (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1
2

Total credit market debt owed by:
Domestic nonfinancial sectors

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

25649.7

27389.3

29408.8

29860.3

30377.4

30913.5

31699.2

32239.9

32973.7

33644.4

34449.2

1

17302.3

18165.7

19302.2

19546.2

19856.5

20198.6

20675.5

20970.0

21513.4

21919.5

22394.7

2

3

Federal government

3681.0

3385.1

3379.5

3430.3

3451.4

3540.8

3637.0

3700.6

3806.9

3914.5

4033.1

3

4

Nonfederal sectors

13621.4

14780.6

15922.6

16115.9

16405.1

16657.8

17038.4

17269.5

17706.5

18005.0

18361.6

4

6499.0
4180.7
1595.4
169.4
1176.9

7077.0
4542.7
1788.3
180.2
1192.3

7722.4
4766.9
1947.5
187.7
1298.1

7838.9
4791.5
1978.4
187.1
1320.0

8027.3
4797.9
2018.0
191.8
1370.1

8232.8
4785.8
2051.4
194.9
1393.0

8498.1
4806.2
2096.5
195.6
1442.0

8637.9
4848.4
2121.6
195.5
1466.1

8912.1
4918.2
2157.6
197.9
1520.7

9149.5
4932.4
2194.9
198.8
1529.5

9401.2
4971.2
2227.4
201.0
1560.7

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

652.5

709.5

659.7

675.9

674.1

665.7

665.6

669.9

653.0

639.5

651.6

10

11

Financial sectors

7694.9

8514.2

9447.0

9638.2

9846.8

10049.2

10358.2

10600.0

10807.3

11085.4

11402.9

11

12
13
14
15

Commercial banking
U.S.-chartered commercial banks
Foreign banking offices in U.S.
Bank holding companies

449.3
228.0
2.0
219.3

509.3
264.8
2.0
242.5

562.1
294.9
1.1
266.1

564.8
294.8
1.0
269.0

574.4
309.2
0.9
264.2

590.6
317.7
1.1
271.8

612.0
325.0
0.7
286.4

627.6
324.3
0.5
302.8

639.5
336.4
0.5
302.7

638.9
333.6
0.5
304.8

661.4
338.9
0.6
321.9

12
13
14
15

16
17

Savings institutions
Credit unions

260.4
3.4

287.7
3.4

295.1
4.9

280.5
5.5

275.3
6.0

286.3
6.8

281.4
6.9

287.2
7.6

277.0
8.0

277.9
8.8

280.9
9.1

16
17

18
19
20
21

Life insurance companies
Government-sponsored enterprises
Federally related mortgage pools
ABS issuers

3.2
1591.7
2292.2
1688.0

2.5
1825.8
2491.6
1887.3

3.1
2114.0
2830.1
2180.8

3.7
2161.8
2955.1
2233.3

4.0
2197.2
3041.6
2288.7

4.5
2259.5
3084.5
2338.6

5.1
2339.9
3158.2
2437.3

6.3
2388.7
3226.3
2511.0

6.6
2438.7
3288.8
2588.2

7.4
2548.1
3370.4
2645.3

8.0
2582.7
3488.4
2717.9

18
19
20
21

22
23
24
25
26

Finance companies
Mortgage companies
REITs
Brokers and dealers
Funding corporations

696.1
16.0
165.1
25.3
504.0

778.1
16.0
167.8
40.9
503.7

779.6
16.0
170.2
42.3
448.4

764.3
16.0
172.1
38.4
442.6

789.5
16.0
178.4
42.8
432.8

808.9
16.0
185.3
46.6
421.5

822.8
16.0
190.0
40.6
447.9

822.0
16.0
194.4
50.2
462.7

873.9
16.0
197.6
46.2
426.8

900.7
16.0
206.7
48.6
416.5

932.3
16.0
213.4
47.0
445.8

22
23
24
25
26

25649.7

27389.3

29408.8

29860.3

30377.4

30913.5

31699.2

32239.9

32973.7

33644.4

34449.2

27

3615.0

3555.6

3585.9

3592.7

3646.8

3593.2

3637.1

3563.1

3595.9

3648.8

3746.9

28

2558.3
224.3
64.6
767.8

2473.2
249.4
65.9
767.0

2433.3
252.1
73.0
827.6

2442.4
248.1
74.1
828.1

2479.3
250.3
74.9
842.2

2411.5
261.0
75.7
845.1

2432.8
274.2
76.7
853.4

2387.8
265.0
76.6
833.7

2388.1
280.6
77.6
849.7

2433.6
292.5
77.8
844.9

2510.0
299.0
78.1
859.9

29
30
31
32

261.1
2306.8

272.7
2476.9

278.7
2724.3

281.0
2789.5

280.1
2900.9

287.9
3003.2

288.5
3131.0

284.1
3231.9

281.9
3420.7

286.9
3540.4

284.7
3742.3

33
34

19466.8

21084.1

22819.9

23197.1

23549.6

24029.3

24642.6

25160.8

25675.2

26168.3

26675.3

35

27
28
29
30
31
32

Total credit market assets held by:
Domestic nonfederal nonfinancial sectors
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
State and local governments

33
34

Federal government
Rest of the world

35

Financial sectors

36
37
38
39
40
41
42
43
44

Monetary authority
Commercial banking
U.S.-chartered commercial banks
Foreign banking offices in U.S.
Bank holding companies
Banks in U.S.-affiliated areas
Savings institutions
Credit unions
Bank personal trusts and estates

478.1
4648.3
4080.0
487.4
32.7
48.3
1032.4
351.7
222.0

511.8
5006.3
4419.5
511.3
20.5
55.0
1088.6
379.7
222.8

551.7
5210.5
4610.1
510.7
24.7
65.0
1131.4
421.2
194.7

575.4
5231.3
4629.3
507.7
27.7
66.6
1134.7
434.3
195.0

590.7
5328.3
4719.7
512.6
28.1
67.9
1130.9
452.9
195.2

604.2
5476.2
4858.4
521.2
27.7
68.8
1153.8
455.1
195.4

629.4
5614.9
5003.9
516.9
27.8
66.3
1166.8
463.9
195.6

641.5
5673.6
5055.6
519.0
33.0
66.1
1214.4
473.7
194.9

652.1
5831.6
5200.8
517.6
42.9
70.3
1238.8
495.3
194.3

656.1
5832.4
5230.3
490.3
36.4
75.5
1261.4
519.1
193.7

666.7
5961.5
5361.7
485.8
36.4
77.6
1293.6
516.8
193.2

36
37
38
39
40
41
42
43
44

45
46
47
48
49

Life insurance companies
Other insurance companies
Private pension funds
State and local govt. retirement funds
Federal government retirement funds

1886.0
518.2
635.2
751.4
33.1

1943.9
509.4
666.5
806.0
35.1

2074.8
518.4
673.1
788.4
44.8

2141.2
527.6
684.9
806.0
46.3

2192.3
536.4
690.4
792.4
48.1

2265.7
541.9
700.5
789.8
52.6

2307.8
558.3
700.5
802.4
57.8

2377.6
572.3
702.3
802.5
64.9

2437.4
584.7
708.4
808.1
65.5

2472.8
601.9
700.5
810.9
65.4

2505.8
612.4
701.3
815.5
64.4

45
46
47
48
49

50
51
52
53
54
55
56

Money market mutual funds
Mutual funds
Closed-end funds
Exchange-traded funds
Government-sponsored enterprises
Federally related mortgage pools
ABS issuers

1147.8
1076.8
110.8
0.0
1543.2
2292.2
1491.3

1290.9
1097.8
105.3
0.0
1803.9
2491.6
1660.8

1536.9
1223.8
108.5
0.0
2110.0
2830.1
1928.1

1496.9
1276.8
112.2
0.0
2159.3
2955.1
1974.5

1419.6
1291.6
113.4
0.0
2195.3
3041.6
2024.4

1411.2
1334.5
112.6
3.7
2248.0
3084.5
2068.6

1511.6
1365.4
117.1
3.7
2324.2
3158.2
2161.9

1485.5
1412.1
123.6
3.4
2387.0
3226.3
2229.6

1480.3
1478.3
138.7
3.5
2419.0
3288.8
2301.7

1438.1
1478.6
149.3
3.9
2579.0
3370.4
2353.9

1398.5
1506.3
162.1
4.5
2586.3
3488.4
2421.6

50
51
52
53
54
55
56

57
58
59
60
61

Finance companies
Mortgage companies
REITs
Brokers and dealers
Funding corporations

742.6
32.1
42.9
154.7
276.0

851.2
32.1
35.8
223.6
321.1

846.4
32.1
42.5
316.0
236.5

834.4
32.1
49.1
299.6
230.6

848.2
32.1
57.0
352.6
216.1

860.8
32.1
63.9
335.2
239.0

867.6
32.1
65.6
344.4
193.5

861.1
32.1
63.5
390.9
227.9

883.5
32.1
71.2
341.1
220.8

924.2
32.1
75.9
375.0
273.7

943.3
32.1
79.9
421.5
299.7

57
58
59
60
61

(1) Excludes corporate equities and mutual fund shares.

59

Z.1, March 4, 2004

L.2 Credit Market Debt Owed by Nonfinancial Sectors
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

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

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

17302.3

18165.7

19302.2

19546.2

19856.5

20198.6

20675.5

20970.0

21513.4

21919.5

22394.7

1

3681.0
3652.7
28.3

3385.1
3357.8
27.3

3379.5
3352.7
26.8

3430.3
3404.0
26.3

3451.4
3424.6
26.8

3540.8
3513.6
27.2

3637.0
3609.8
27.3

3700.6
3673.7
26.9

3806.9
3779.9
27.0

3914.5
3887.5
27.0

4033.1
4008.2
24.9

2
3
4

13621.4
230.3
1457.2
2067.7
1233.2
852.4

14780.6
278.4
1480.9
2230.3
1335.0
936.9

15922.6
190.1
1603.7
2578.8
1253.5
942.5

16115.9
167.5
1627.4
2644.9
1240.1
935.6

16405.1
148.4
1681.5
2691.2
1195.0
948.8

16657.8
142.2
1706.9
2686.1
1162.2
955.6

17038.4
126.0
1763.1
2711.0
1166.5
961.1

17269.5
127.1
1791.1
2757.7
1141.8
957.1

17706.5
107.5
1850.4
2832.0
1128.8
966.7

18005.0
108.4
1863.2
2856.0
1096.5
958.0

18361.6
85.9
1899.4
2873.3
1133.2
959.2

5
6
7
8
9
10

6237.8
4787.2
343.1
1005.1
102.3
1542.7

6800.2
5205.4
373.2
1112.6
108.9
1719.0

7497.3
5738.6
417.6
1224.7
116.3
1856.7

7660.9
5877.2
424.5
1241.0
118.1
1839.5

7874.8
6049.6
434.6
1270.1
120.4
1865.5

8107.6
6247.7
442.4
1293.9
123.6
1897.2

8372.8
6462.6
458.8
1326.6
124.8
1938.1

8583.2
6640.2
467.1
1348.9
127.0
1911.5

8879.7
6887.9
480.3
1382.3
129.2
1941.4

9138.6
7098.7
492.6
1416.8
130.4
1984.3

9371.0
7282.6
503.8
1452.4
132.2
2039.7

11
12
13
14
15
16

13621.4
6499.0
5945.5
4180.7
1595.4
169.4
1176.9

14780.6
7077.0
6511.2
4542.7
1788.3
180.2
1192.3

15922.6
7722.4
6902.1
4766.9
1947.5
187.7
1298.1

16115.9
7838.9
6957.0
4791.5
1978.4
187.1
1320.0

16405.1
8027.3
7007.7
4797.9
2018.0
191.8
1370.1

16657.8
8232.8
7032.0
4785.8
2051.4
194.9
1393.0

17038.4
8498.1
7098.3
4806.2
2096.5
195.6
1442.0

17269.5
8637.9
7165.5
4848.4
2121.6
195.5
1466.1

17706.5
8912.1
7273.7
4918.2
2157.6
197.9
1520.7

18005.0
9149.5
7326.1
4932.4
2194.9
198.8
1529.5

18361.6
9401.2
7399.7
4971.2
2227.4
201.0
1560.7

17
18
19
20
21
22
23

24

Foreign credit market debt
held in U.S.

652.5

709.5

659.7

675.9

674.1

665.7

665.6

669.9

653.0

639.5

651.6

24

25
26
27
28

Commercial paper
Bonds
Bank loans n.e.c.
Other loans and advances

89.2
452.5
59.2
51.6

120.9
467.7
70.5
50.3

106.7
443.2
63.2
46.6

123.6
439.6
66.7
46.0

130.2
426.1
72.2
45.5

134.0
417.3
69.3
45.1

142.8
409.8
68.6
44.4

155.7
402.5
67.6
44.1

173.1
377.0
59.7
43.2

160.4
375.7
61.0
42.3

165.1
384.6
60.9
41.1

25
26
27
28

17954.8

18875.1

19961.9

20222.1

20530.6

20864.3

21341.1

21639.9

22166.4

22559.0

23046.3

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

7694.9

8514.2

9447.0

9638.2

9846.8

10049.2

10358.2

10600.0

10807.3

11085.4

11402.9

1

Federal government-related
Govt.-sponsored enterprise securities
Mortgage pool securities
U.S. government loans

3884.0
1591.7
2292.2
0.0

4317.4
1825.8
2491.6
0.0

4944.1
2114.0
2830.1
0.0

5116.9
2161.8
2955.1
0.0

5238.8
2197.2
3041.6
0.0

5344.0
2259.5
3084.5
0.0

5498.1
2339.9
3158.2
0.0

5615.0
2388.7
3226.3
0.0

5727.5
2438.7
3288.8
0.0

5918.4
2548.1
3370.4
0.0

6071.1
2582.7
3488.4
0.0

2
3
4
5

Private financial sectors
Open market paper
Corporate bonds
Bank loans n.e.c.
Other loans and advances
Mortgages

3810.9
1082.9
2164.0
91.5
395.8
76.7

4196.7
1214.7
2369.8
91.1
438.3
82.9

4502.8
1169.4
2671.9
104.2
473.2
84.2

4521.3
1115.9
2754.8
102.3
462.4
85.9

4608.0
1072.4
2866.8
110.6
470.6
87.6

4705.2
1075.0
2920.1
130.3
491.0
88.9

4860.1
1105.9
3068.9
105.3
489.8
90.1

4985.0
1076.5
3219.9
92.9
506.5
89.2

5079.8
1036.5
3348.1
98.7
506.5
90.1

5167.0
1025.7
3440.4
102.8
506.2
92.0

5331.8
1042.1
3582.4
98.4
514.5
94.4

6
7
8
9
10
11

7694.9

8514.2

9447.0

9638.2

9846.8

10049.2

10358.2

10600.0

10807.3

11085.4

11402.9

12

230.0
219.3
260.4
3.4

266.7
242.5
287.7
3.4

296.0
266.1
295.1
4.9

295.8
269.0
280.5
5.5

310.2
264.2
275.3
6.0

318.7
271.8
286.3
6.8

325.6
286.4
281.4
6.9

324.8
302.8
287.2
7.6

336.8
302.7
277.0
8.0

334.0
304.8
277.9
8.8

339.5
321.9
280.9
9.1

13
14
15
16

3.2
1591.7
2292.2
1688.0

2.5
1825.8
2491.6
1887.3

3.1
2114.0
2830.1
2180.8

3.7
2161.8
2955.1
2233.3

4.0
2197.2
3041.6
2288.7

4.5
2259.5
3084.5
2338.6

5.1
2339.9
3158.2
2437.3

6.3
2388.7
3226.3
2511.0

6.6
2438.7
3288.8
2588.2

7.4
2548.1
3370.4
2645.3

8.0
2582.7
3488.4
2717.9

17
18
19
20

25.3
696.1
16.0
165.1
504.0

40.9
778.1
16.0
167.8
503.7

42.3
779.6
16.0
170.2
448.4

38.4
764.3
16.0
172.1
442.6

42.8
789.5
16.0
178.4
432.8

46.6
808.9
16.0
185.3
421.5

40.6
822.8
16.0
190.0
447.9

50.2
822.0
16.0
194.4
462.7

46.2
873.9
16.0
197.6
426.8

48.6
900.7
16.0
206.7
416.5

47.0
932.3
16.0
213.4
445.8

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, March 4, 2004

L.4 Credit Market Debt, All Sectors, by Instrument
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

25649.7

27389.3

29408.8

29860.3

30377.4

30913.5

31699.2

32239.9

32973.7

33644.4

34449.2

1

2
3
4
5

Open market paper
U.S. government securities
Municipal securities
Corporate and foreign bonds

1402.4
7564.9
1457.2
4684.2

1614.0
7702.5
1480.9
5067.8

1466.2
8323.6
1603.7
5693.9

1407.0
8547.2
1627.4
5839.3

1351.0
8690.2
1681.5
5984.1

1351.2
8884.8
1706.9
6023.4

1374.7
9135.1
1763.1
6189.7

1359.2
9315.6
1791.1
6380.2

1317.1
9534.4
1850.4
6557.1

1294.5
9832.9
1863.2
6672.1

1293.1
10104.2
1899.4
6840.4

2
3
4
5

6
7
8
9

Bank loans n.e.c.
Other loans and advances
Mortgages
Consumer credit

1383.8
1299.9
6314.5
1542.7

1496.6
1425.5
6883.1
1719.0

1421.0
1462.2
7581.5
1856.7

1409.1
1444.0
7746.7
1839.5

1377.8
1465.0
7962.4
1865.5

1361.7
1491.7
8196.5
1897.2

1340.4
1495.3
8462.9
1938.1

1302.3
1507.6
8672.4
1911.5

1287.2
1516.3
8969.8
1941.4

1260.3
1506.5
9230.6
1984.3

1292.4
1514.7
9465.4
2039.7

6
7
8
9

19522.8
4538.5

17627.0
4434.6

15310.6
4135.5

15235.8
4247.0

13338.5
3926.6

10946.9
3452.3

11870.9
3639.4

11424.5
3591.0

13274.7
4068.9

13749.1
4242.7

15497.9
4664.9

10
11

10
11

Total

2000

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)

25649.7

27389.3

29408.8

29860.3

30377.4

30913.5

31699.2

32239.9

32973.7

33644.4

34449.2

1

2
3
4
5
6

Official foreign exchange
SDR certificates
Treasury currency
Foreign deposits
Net interbank liabilities

50.1
6.2
20.9
686.1
202.4

46.1
2.2
23.2
820.3
221.2

46.8
2.2
24.5
851.0
191.4

45.7
2.2
24.7
840.1
162.4

47.2
2.2
24.8
856.6
131.4

53.1
2.2
25.5
869.8
150.7

55.8
2.2
25.5
874.9
205.9

57.6
2.2
25.6
870.7
175.5

58.9
2.2
26.0
910.6
123.8

61.3
2.2
26.0
850.1
163.7

62.3
2.2
26.0
846.7
207.4

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

1484.5
2671.6
936.4
1578.8
1083.6

1413.1
2860.4
1052.6
1812.1
1196.8

1603.2
3127.6
1121.1
2240.7
1231.8

1518.1
3236.7
1178.9
2203.3
1262.4

1571.9
3256.4
1188.7
2151.2
1343.1

1610.7
3336.8
1199.9
2114.8
1313.7

1646.7
3398.7
1171.5
2223.9
1336.8

1680.4
3502.5
1209.1
2156.2
1323.1

1703.1
3575.2
1222.5
2120.8
1450.0

1670.6
3601.2
1222.1
2058.0
1483.2

1681.0
3628.3
1233.5
2016.0
1662.9

7
8
9
10
11

12
13
14
15

Mutual fund shares
Security credit
Life insurance reserves
Pension fund reserves

4538.5
676.6
783.9
9067.6

4434.6
822.7
819.1
9070.9

4135.5
825.9
880.0
8681.1

4247.0
778.0
894.2
8812.9

3926.6
745.6
901.2
8329.4

3452.3
726.3
902.9
7718.7

3639.4
738.8
920.9
8003.0

3591.0
796.6
936.3
7923.5

4068.9
971.9
963.7
8525.3

4242.7
940.2
978.0
8717.8

4664.9
860.4
1005.0
9303.6

12
13
14
15

16
17
18
19

Trade payables
Taxes payable
Investment in bank personal trusts
Miscellaneous

2345.4
178.9
1130.4
9321.5

2747.7
204.8
1095.8
10542.9

2663.9
219.2
960.7
11172.8

2699.2
225.7
963.2
11248.1

2725.1
233.8
893.5
11507.3

2753.9
254.2
811.6
12009.8

2727.0
248.3
840.9
11761.8

2784.9
270.3
819.6
12050.8

2854.8
275.6
877.0
11991.2

2955.8
283.3
885.0
12261.1

3042.7
282.5
932.4
12195.2

16
17
18
19

20

Total liabilities

62413.0

66575.7

69388.3

70203.2

70213.6

70220.4

71521.1

72415.7

74695.2

76046.8

78102.4

20

21
22
23

+ Financial assets not included in
liabilities:
Gold and SDRs
Corporate equities
Household equity in noncorp. bus.

21.4
19522.8
4571.3

21.6
17627.0
4847.1

21.8
15310.6
4964.6

21.9
15235.8
4992.6

22.3
13338.5
5053.7

22.8
10946.9
5129.0

23.2
11870.9
5177.8

22.4
11424.5
5232.3

22.8
13274.7
5275.4

23.1
13749.1
5329.2

23.7
15497.9
5414.3

21
22
23

24
25
26

- Liabilities not identified as assets:
Treasury currency
Foreign deposits
Net interbank transactions

-7.1
568.2
-28.5

-8.5
646.6
-4.3

-8.6
657.7
11.1

-8.9
636.0
21.9

-9.1
660.8
17.5

-8.9
666.7
16.5

-9.1
676.0
15.3

-9.2
673.0
19.3

-9.1
726.7
6.8

-9.3
676.0
18.1

-9.5
673.2
12.0

24
25
26

266.4
106.9
-2334.1

388.9
116.9
-3397.9

343.5
89.3
-3754.8

396.4
76.7
-3662.5

458.8
131.6
-3718.2

375.5
127.5
-3602.1

349.5
124.4
-3643.1

388.2
116.6
-3719.1

293.1
121.6
-3669.2

296.9
105.8
-3453.5

379.4
99.7
-3570.9

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

-9.8
22.3
97.0

-2.3
24.0
107.8

-12.3
28.6
103.2

-9.6
26.3
55.0

-9.3
31.4
23.0

-14.8
25.8
17.5

-11.7
35.9
85.8

27.4
34.2
45.3

-17.1
40.1
31.0

-52.5
35.2
51.0

-117.6
45.8
123.9

30
31
32

33

Totals identified to sectors as assets

87847.2

91200.0

92227.7

92922.2

91041.6

88715.4

90970.0

91519.3

95744.2

97480.6

101402.1

33

61

Z.1, March 4, 2004

L.10 Assets and Liabilities of the Personal Sector (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1

Total financial assets

2
3
4
5

Foreign deposits
Checkable deposits and currency
Time and savings deposits
Money market fund shares

6

Securities

7
8
9
10

Open market paper
U.S. savings bonds
Other Treasury securities
Agency securities

11
12
13
14

Municipal securities
Corporate and foreign bonds
Corporate equities (2)
Mutual fund shares

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

31653.0

30550.7

29272.5

29370.1

27750.0

25850.3

26916.6

26749.0

28547.9

29082.8

30712.8

1

43.5
582.8
2928.6
862.9

58.5
519.0
3237.3
1017.2

53.5
609.9
3495.1
1175.4

54.0
616.7
3633.5
1163.0

54.5
569.6
3684.9
1102.5

61.0
543.2
3794.6
1116.0

64.2
586.9
3790.8
1137.5

70.7
569.2
3920.0
1120.6

64.8
570.3
3999.9
1076.8

60.3
518.5
4083.8
1046.8

67.7
533.5
4133.5
1039.1

2
3
4
5

14655.0

12911.8

11420.4

11235.0

10206.8

8862.2

9508.3

9275.2

10241.4

10529.3

11447.4

6

67.7
186.4
657.4
301.0

72.6
184.8
441.7
348.3

41.8
190.3
339.3
269.9

40.8
191.9
320.1
242.8

38.9
192.7
279.2
222.2

43.9
193.3
285.1
148.1

47.6
194.9
232.7
95.4

53.7
196.9
276.5
61.0

46.1
199.1
326.8
25.1

47.7
201.5
291.9
159.2

46.0
203.8
262.2
269.6

7
8
9
10

452.9
822.2
9052.1
3115.2

463.1
892.0
7473.6
3035.8

515.4
1009.7
6184.2
2869.7

547.4
1033.0
5922.1
2936.8

594.0
1086.2
5049.2
2744.3

588.5
1086.5
4086.7
2430.1

622.0
1175.0
4601.5
2539.2

629.6
1104.7
4431.2
2521.7

660.8
1065.5
5059.7
2858.2

658.8
1010.5
5160.7
2999.0

684.5
980.4
5709.2
3291.6

11
12
13
14

15
16
17
18

Private life insurance reserves
Private insured pension reserves
Private noninsured pension reserves
Govt. insurance and pension reserves

748.9
1431.0
4598.1
3073.5

782.7
1456.1
4484.1
3167.1

842.2
1465.3
4127.3
3126.2

856.4
1490.4
4213.4
3146.9

862.4
1470.1
3878.3
3019.6

864.2
1434.4
3486.4
2836.6

881.6
1491.7
3601.3
2949.4

896.9
1510.1
3546.0
2906.8

923.9
1601.0
3872.3
3091.8

938.1
1644.9
3961.7
3151.0

964.5
1742.9
4266.9
3334.3

15
16
17
18

19
20

Investment in bank personal trusts
Miscellaneous and other assets

1130.4
1598.3

1095.8
1821.2

960.7
1996.5

963.2
1997.7

893.5
2007.6

811.6
2040.1

840.9
2064.2

819.6
2113.9

877.0
2228.8

885.0
2263.2

932.4
2250.7

19
20

9394.8

10333.0

11161.3

11320.6

11547.6

11783.8

12104.2

12308.1

12735.2

13016.8

13280.1

21

21

Total liabilities

22
23
24

Mortgage debt on nonfarm homes
Other mortgage debt (3)
Consumer credit

4775.7
1130.6
1542.7

5192.0
1245.5
1719.0

5723.0
1352.9
1856.7

5861.7
1374.7
1839.5

6033.9
1401.9
1865.5

6231.5
1427.6
1897.2

6446.4
1454.9
1938.1

6623.6
1477.9
1911.5

6870.9
1504.9
1941.4

7081.3
1536.4
1984.3

7264.6
1540.9
2039.7

22
23
24

25
26
27

Policy loans
Security credit
Other liabilities (3)

100.0
227.9
1617.9

102.8
235.1
1838.6

105.0
196.4
1927.3

105.3
192.0
1947.4

105.3
170.6
1970.5

105.7
149.6
1972.1

106.1
148.2
2010.5

105.7
159.5
2029.9

106.0
248.5
2063.6

105.5
227.6
2081.6

105.9
180.8
2148.3

25
26
27

(1) Combined statement for household sector, nonfarm noncorporate business, and farm business.
(2) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual funds (line 14), life insurance and pension reserves (lines 15, 16, 17, and 18), and bank personal trusts (line 19).
(3) Includes corporate farms.

62

Z.1, March 4, 2004

L.100 Households and Nonprofit Organizations (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

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

8
9
10
11
12
13

Open market paper
U.S. government securities
Treasury
Savings bonds
Other Treasury
Agency

14
15
16

Municipal securities
Corporate and foreign bonds
Mortgages

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

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

34989.7

33950.3

32652.7

32748.7

31158.2

29310.1

30410.3

30274.0

32089.7

32646.3

34341.0

1

4022.8

4351.5

4835.5

4963.4

4901.8

5004.2

5063.4

5164.7

5192.8

5190.2

5253.2

2

43.5
346.0
2811.1
822.2

58.5
225.6
3099.7
967.8

53.5
315.3
3350.3
1116.4

54.0
317.9
3486.8
1104.8

54.5
266.7
3537.3
1043.3

61.0
237.3
3647.4
1058.4

64.2
279.1
3644.0
1076.1

70.7
259.1
3774.2
1060.6

64.8
256.8
3853.1
1018.1

60.3
201.8
3936.8
991.2

67.7
214.7
3984.9
986.0

3
4
5
6

2558.3

2473.2

2433.3

2442.4

2479.3

2411.5

2432.8

2387.8

2388.1

2433.6

2510.0

7

67.7
1107.7
806.7
186.4
620.2
301.0

72.6
934.6
586.3
184.8
401.5
348.3

41.8
756.8
486.8
190.3
296.5
269.9

40.8
711.4
468.6
191.9
276.7
242.8

38.9
650.3
428.1
192.7
235.4
222.2

43.9
582.2
434.1
193.3
240.9
148.1

47.6
477.9
382.4
194.9
187.6
95.4

53.7
489.2
428.3
196.9
231.4
61.0

46.1
504.7
479.7
199.1
280.5
25.1

47.7
605.7
446.5
201.5
245.0
159.2

46.0
688.1
418.5
203.8
214.7
269.6

8
9
10
11
12
13

450.2
822.2
110.4

460.7
892.0
113.4

511.9
1009.7
113.0

543.9
1033.0
113.2

590.4
1086.2
113.6

584.8
1086.5
114.0

618.3
1175.0
114.1

625.8
1104.7
114.4

657.0
1065.5
114.6

655.0
1010.5
114.7

680.6
980.4
114.9

14
15
16

9052.1
3115.2
323.9
783.9
9067.6
1130.4
4571.3
364.3

7473.6
3035.8
412.4
819.1
9070.9
1095.8
4847.1
370.9

6184.2
2869.7
454.3
880.0
8681.1
960.7
4964.6
389.4

5922.1
2936.8
427.5
894.2
8812.9
963.2
4992.6
393.7

5049.2
2744.3
400.5
901.2
8329.4
893.5
5053.7
405.3

4086.7
2430.1
401.3
902.9
7718.7
811.6
5129.0
414.2

4601.5
2539.2
412.7
920.9
8003.0
840.9
5177.8
418.1

4431.2
2521.7
429.6
936.3
7923.5
819.6
5232.3
427.3

5059.7
2858.2
515.1
963.7
8525.3
877.0
5275.4
434.6

5160.7
2999.0
503.4
978.0
8717.8
885.0
5329.2
449.3

5709.2
3291.6
466.2
1005.0
9303.6
932.4
5414.3
455.3

17
18
19
20
21
22
23
24

6877.3

7466.4

8076.6

8190.7

8359.2

8546.2

8812.0

8965.7

9331.0

9549.6

9756.7

25

6499.0

7077.0

7722.4

7838.9

8027.3

8232.8

8498.1

8637.9

8912.1

9149.5

9401.2

26

4523.6
1542.7
137.3

4900.4
1719.0
143.0

5388.6
1856.7
156.9

5517.3
1839.5
159.0

5678.4
1865.5
162.2

5862.0
1897.2
163.9

6062.5
1938.1
169.8

6225.5
1911.5
173.6

6455.8
1941.4
177.3

6651.8
1984.3
180.6

6820.6
2039.7
184.3

27
28
29

67.3
117.8
110.3

74.1
119.8
120.7

57.6
120.4
142.2

55.6
120.4
147.2

50.4
120.1
150.8

32.4
120.4
156.8

54.6
120.5
152.7

50.9
119.9
156.6

61.1
120.0
156.5

51.9
119.3
161.6

96.3
119.5
140.8

30
31
32

227.9
130.9

235.1
134.7

196.4
138.7

192.0
140.4

170.6
142.1

149.6
143.8

148.2
145.7

159.5
147.5

248.5
149.5

227.6
151.5

180.8
153.6

33
34

19.4

19.6

19.1

19.4

19.3

20.0

20.0

20.7

21.0

21.0

21.2

35

(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) Directly held and those in closed-end and exchange-traded 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, March 4, 2004

L.101 Nonfinancial Business (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

9335.4

11260.1

11554.0

11605.8

11668.1

11695.0

11849.8

12000.5

12250.3

12440.0

12704.7

1

2
3
4
5
6

Foreign deposits
Checkable deposits and currency
Time and savings deposits
Money market fund shares
Security RPs

31.5
567.8
254.4
195.6
5.8

24.0
674.9
274.9
240.8
4.2

15.6
630.0
276.7
360.9
4.0

27.2
585.9
274.7
356.2
3.7

23.2
640.5
259.1
359.0
5.7

23.9
678.1
242.2
345.5
5.4

20.6
671.4
270.9
390.1
6.2

25.9
670.9
277.9
379.1
5.8

30.4
702.6
284.8
362.3
6.6

31.4
765.8
273.4
333.1
7.1

31.7
798.5
266.1
329.1
7.9

2
3
4
5
6

7

Credit market instruments

288.9

315.3

325.0

322.2

325.2

336.6

350.9

341.6

358.2

370.3

377.0

7

47.6
69.0
27.7
65.9
78.7

57.8
73.7
34.4
66.8
82.7

60.3
76.5
32.8
73.2
82.3

56.0
85.4
32.5
73.7
74.6

55.9
91.4
29.8
74.5
73.7

62.1
91.9
34.7
75.3
72.6

66.6
93.7
32.4
75.8
82.2

64.9
96.8
32.0
76.3
71.7

67.4
105.1
32.1
76.5
77.1

71.4
110.8
34.2
76.6
77.3

74.1
115.8
35.9
76.6
74.7

8
9
10
11
12

133.7
1927.6
5930.1

122.8
2280.2
7322.9

105.9
2165.6
7670.4

108.3
2236.6
7691.2

95.6
2285.3
7674.3

81.3
2314.3
7667.7

90.5
2216.7
7832.6

89.7
2306.2
7903.3

106.4
2384.0
8015.1

112.2
2458.8
8087.9

127.9
2468.7
8297.7

13
14
15

10924.8

12477.9

12861.7

12951.1

13064.0

13165.3

13298.0

13477.6

13651.5

13801.3

13945.1

16

8
9
10
11
12
13
14
15
16
17

Total financial assets

2000

Commercial paper
U.S. government securities
Municipal securities
Mortgages
Consumer credit
Mutual fund shares
Trade receivables
Miscellaneous assets
Total liabilities

5945.5

6511.2

6902.1

6957.0

7007.7

7032.0

7098.3

7165.5

7273.7

7326.1

7399.7

17

18
19
20

Commercial paper
Municipal securities
Corporate bonds

230.3
152.8
2067.7

278.4
154.2
2230.3

190.1
157.7
2578.8

167.5
157.5
2644.9

148.4
158.3
2691.2

142.2
159.3
2686.1

126.0
160.8
2711.0

127.1
160.9
2757.7

107.5
162.0
2832.0

108.4
162.8
2856.0

85.9
164.0
2873.3

18
19
20

21
22
23

Bank loans n.e.c.
Other loans and advances
Mortgages

1165.8
724.9
1603.9

1260.8
808.4
1779.1

1195.9
813.1
1966.5

1184.5
806.2
1996.4

1144.6
819.7
2045.5

1129.8
826.0
2088.7

1111.9
831.2
2157.6

1090.9
827.7
2201.2

1067.8
837.1
2267.4

1044.6
829.0
2325.2

1036.8
830.0
2409.6

21
22
23

1461.5
124.0
3393.9

1822.2
142.6
4001.8

1704.4
149.7
4105.5

1735.9
154.1
4104.0

1760.5
160.1
4135.7

1783.2
178.2
4171.9

1748.4
170.0
4281.3

1796.9
189.2
4326.0

1850.7
191.5
4335.6

1934.5
196.2
4344.6

2009.5
193.0
4342.9

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, March 4, 2004

L.102 Nonfarm Nonfinancial Corporate Business
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

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

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

8093.8

9772.5

9908.6

9922.0

9948.0

9940.2

10058.5

10173.4

10380.7

10525.4

10747.9

1

31.5
331.0
136.9
154.9
5.8

24.0
381.4
137.3
191.4
4.2

15.6
335.4
132.0
301.9
4.0

27.2
287.1
128.0
297.9
3.7

23.2
337.7
111.4
299.8
5.7

23.9
372.2
95.0
287.9
5.4

20.6
363.6
124.0
328.8
6.2

25.9
360.9
132.1
319.1
5.8

30.4
389.1
138.0
303.6
6.6

31.4
449.1
126.4
277.6
7.1

31.7
479.8
117.5
276.0
7.9

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

47.6
31.8
25.0
41.2
78.7
1655.0
133.7

57.8
33.5
31.9
43.5
82.7
1938.1
122.8

60.3
33.7
29.3
46.6
82.3
1821.7
105.9

56.0
42.0
28.9
46.6
74.6
1882.6
108.3

55.9
47.5
26.1
47.1
73.7
1925.7
95.6

62.1
47.7
31.0
47.6
72.6
1950.7
81.3

66.6
48.6
28.7
48.1
82.2
1849.9
90.5

64.9
51.7
28.2
48.5
71.7
1930.3
89.7

67.4
58.8
28.2
49.0
77.1
1995.9
106.4

71.4
64.0
30.3
49.5
77.3
2054.2
112.2

74.1
68.2
32.0
50.0
74.7
2051.6
127.9

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

5420.8
1227.7
190.8
-0.8
43.9
3959.2

6723.8
1320.4
190.4
-0.8
51.3
5162.5

6940.1
1369.6
200.8
-8.1
49.6
5328.2

6939.1
1407.5
203.8
-6.3
41.3
5292.8

6898.4
1440.0
209.1
-10.4
41.7
5218.0

6862.8
1468.9
215.2
-13.8
41.5
5150.9

7000.7
1496.1
218.2
-13.1
44.2
5255.3

7044.5
1525.8
224.2
-13.0
43.7
5263.7

7130.2
1553.9
228.6
-14.2
48.2
5313.7

7175.0
1592.2
235.8
-16.3
48.2
5315.1

7356.5
1622.8
240.5
-13.3
50.5
5455.9

14
15
16
17
18
19

20

8407.3

9611.4

9777.0

9821.2

9875.7

9927.7

10005.8

10135.2

10247.3

10334.2

10421.7

20

21

Credit market instruments

4180.7

4542.7

4766.9

4791.5

4797.9

4785.8

4806.2

4848.4

4918.2

4932.4

4971.2

21

22
23
24
25

Commercial paper
Municipal securities (2)
Corporate bonds (1)
Bank loans n.e.c.

230.3
152.8
2067.7
813.0

278.4
154.2
2230.3
861.0

190.1
157.7
2578.8
758.3

167.5
157.5
2644.9
743.4

148.4
158.3
2691.2
695.1

142.2
159.3
2686.1
677.5

126.0
160.8
2711.0
661.9

127.1
160.9
2757.7
649.2

107.5
162.0
2832.0
632.1

108.4
162.8
2856.0
615.0

85.9
164.0
2873.3
612.5

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

585.4
15.3
355.6
8.0
4.4
119.5
82.6
331.4

656.1
19.7
412.6
7.6
4.3
117.3
94.7
362.6

660.6
21.5
402.3
7.4
4.1
115.7
109.8
421.3

653.7
22.2
398.7
7.0
3.9
109.5
112.4
424.5

666.0
22.2
404.5
7.2
4.4
119.9
107.8
439.0

672.2
22.7
401.0
6.8
4.3
133.7
103.8
448.5

675.1
23.1
409.7
7.0
4.4
125.8
105.0
471.5

671.7
23.7
408.5
7.3
4.7
115.0
112.5
481.8

680.7
24.1
410.2
7.5
4.4
126.1
108.4
503.9

669.3
28.7
401.0
7.6
4.2
125.2
102.7
520.9

670.0
28.2
400.9
7.8
4.2
125.0
104.0
565.5

26
27
28
29
30
31
32
33

1228.2
71.0
2927.3
1085.5
110.1
1731.7

1541.4
78.0
3449.2
1066.6
111.3
2271.3

1431.1
81.0
3497.9
1069.1
112.6
2316.2

1453.8
85.1
3490.9
1068.7
112.9
2309.2

1472.7
87.7
3517.4
1058.3
113.3
2345.8

1492.1
101.1
3548.8
1063.8
113.6
2371.4

1453.2
93.1
3653.2
1181.5
113.9
2357.8

1490.6
107.5
3688.7
1178.7
114.2
2395.8

1532.9
107.4
3688.8
1174.6
114.6
2399.7

1601.9
110.9
3689.0
1186.4
114.9
2387.6

1665.7
106.5
3678.4
1230.9
115.2
2332.2

34
35
36
37
38
39

426.9
15155.6

396.6
12678.8

390.6
10796.2

428.8
10709.5

453.1
8999.1

458.6
7322.1

396.7
7906.9

439.7
7645.8

463.0
8819.9

452.3
9044.5

386.0
10170.3

40
41

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

42
43

Securities and mortgages
Loans and short-term paper

2552.0
1628.7

2747.1
1795.6

3157.8
1609.1

3226.9
1564.6

3288.4
1509.5

3293.8
1491.9

3343.3
1462.9

3400.4
1448.0

3497.9
1420.3

3539.7
1392.7

3602.9
1368.4

42
43

44
45

Total short-term liabilities (3)
Total liquid assets (4)

2927.9
898.1

3415.0
984.4

3121.2
1017.9

3103.5
979.1

3069.8
1003.1

3085.1
1006.5

3009.3
1077.6

3046.1
1078.3

3060.6
1128.6

3105.6
1169.4

3140.5
1215.1

44
45

46
47

Analytical measures (percent)
Long-term debt/credit market debt
Short-term debt/credit market debt

61.0
39.0

60.5
39.5

66.2
33.8

67.3
32.7

68.5
31.5

68.8
31.2

69.6
30.4

70.1
29.9

71.1
28.9

71.8
28.2

72.5
27.5

46
47

48

Liquid assets/short-term liabilities

30.7

28.8

32.6

31.5

32.7

32.6

35.8

35.4

36.9

37.7

38.7

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, March 4, 2004

L.103 Nonfarm Noncorporate Business
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

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

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

1176.8

1422.7

1578.4

1616.1

1650.9

1684.1

1719.8

1754.2

1795.5

1838.6

1879.4

1

217.6
117.5
40.7

274.1
137.6
49.4

274.5
144.7
59.0

278.6
146.7
58.2

282.6
147.6
59.2

285.5
147.2
57.6

287.3
146.9
61.3

289.6
145.8
60.0

293.0
146.8
58.7

296.2
147.0
55.6

298.2
148.6
53.1

2
3
4

37.2
2.7
24.7
0.0

40.2
2.4
23.3
0.0

42.8
3.5
26.6
0.0

43.4
3.6
27.2
0.0

43.8
3.6
27.5
0.0

44.3
3.7
27.7
0.0

45.2
3.7
27.8
0.0

45.1
3.8
27.7
0.0

46.3
3.8
27.5
0.0

46.8
3.9
27.1
0.0

47.5
3.9
26.6
0.0

5
6
7
8

272.6
463.8
45.9
1.6
416.3

342.1
553.7
45.8
1.6
506.2

343.9
683.3
48.3
1.5
633.5

354.0
704.4
49.0
1.5
653.9

359.6
726.9
50.3
1.5
675.1

363.6
754.6
51.8
1.5
701.3

366.7
780.9
52.5
1.5
726.9

375.9
806.3
53.9
1.6
750.8

388.1
831.3
55.0
1.5
774.8

404.5
857.4
56.7
1.7
799.1

417.1
884.3
57.9
1.9
824.6

9
10
11
12
13

2328.2

2665.5

2878.7

2924.2

2976.9

3023.0

3077.4

3127.0

3185.6

3247.4

3301.2

14

1595.4

1788.3

1947.5

1978.4

2018.0

2051.4

2096.5

2121.6

2157.6

2194.9

2227.4

15

308.6
116.6
1170.1

352.9
127.8
1307.6

390.7
128.0
1428.8

396.9
127.7
1453.8

402.8
129.1
1486.1

405.5
129.2
1516.7

404.1
131.2
1561.3

398.3
130.9
1592.4

390.7
132.6
1634.3

384.2
136.8
1673.9

378.8
136.7
1711.9

16
17
18

213.3
53.0
466.5

259.9
64.6
552.6

255.0
68.7
607.5

263.6
69.1
613.2

268.2
72.4
618.3

271.5
77.1
623.1

276.0
76.8
628.1

286.4
81.7
637.3

297.1
84.1
646.8

311.6
85.3
655.7

322.7
86.5
664.5

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

64.8

64.9

67.0

67.8

69.2

70.7

71.5

72.9

74.1

76.0

77.4

1

2

Checkable deposits and currency

19.2

19.4

20.1

20.2

20.3

20.4

20.5

20.5

20.5

20.5

20.6

2

3
4
5

Miscellaneous assets
Insurance receivables
Equity investment in GSEs (2)

45.6
43.9
1.6

45.5
43.9
1.6

47.0
45.3
1.7

47.6
45.9
1.7

48.9
47.2
1.8

50.4
48.6
1.8

51.1
49.3
1.8

52.4
50.7
1.8

53.6
51.7
1.9

55.5
53.3
2.2

56.9
54.4
2.4

3
4
5

189.4

201.1

206.0

205.7

211.5

214.5

214.8

215.4

218.6

219.7

222.1

6

169.4

180.2

187.7

187.1

191.8

194.9

195.6

195.5

197.9

198.8

201.0

7

44.2
22.8
102.3

46.9
24.5
108.9

46.9
24.5
116.3

44.2
24.8
118.1

46.8
24.6
120.4

46.7
24.6
123.6

46.0
24.8
124.8

43.4
25.1
127.0

45.0
23.8
129.2

45.4
23.0
130.4

45.5
23.3
132.2

8
9
10

20.0

20.9

18.3

18.6

19.6

19.6

19.2

20.0

20.7

20.9

21.1

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, March 4, 2004

L.105 State and Local Governments (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

1257.8

1296.0

1387.5

1395.8

1429.9

1445.1

1474.1

1472.4

1504.6

1516.4

1544.2

1

2
3
4

Checkable deposits and currency
Time and savings deposits
Security RPs

32.2
102.1
163.5

33.2
111.5
173.3

38.2
119.2
159.9

37.1
133.0
150.4

41.1
125.6
157.9

41.5
131.9
153.7

46.7
136.3
157.7

43.1
145.7
160.5

45.0
146.3
169.9

44.9
150.4
178.4

53.0
158.5
190.1

2
3
4

5

Credit market instruments

6
7
8
9
10
11
12

Total financial assets

2000

767.8

767.0

827.6

828.1

842.2

845.1

853.4

833.7

849.7

844.9

859.9

5

Open market paper
U.S. government securities
Treasury
Agency

108.9
456.8
266.8
190.0

116.5
439.7
247.7
192.0

90.0
509.8
297.9
211.9

79.0
519.0
303.9
215.1

75.1
532.8
316.8
216.0

80.5
531.4
316.4
215.0

86.2
534.0
320.0
214.0

81.6
522.2
311.2
211.0

78.2
537.5
323.5
214.0

67.0
542.7
325.9
216.8

53.8
565.0
343.7
221.3

6
7
8
9

Municipal securities
Corporate and foreign bonds
Mortgages

1.0
71.3
129.8

1.6
75.0
134.3

1.9
86.9
139.0

1.7
88.2
140.2

1.4
91.5
141.4

1.0
89.4
142.7

0.5
88.7
143.9

1.2
83.5
145.2

1.6
85.9
146.5

2.9
84.6
147.8

4.3
87.7
149.1

10
11
12

115.0
25.6

115.1
26.4

126.3
31.5

129.3
30.5

121.3
32.4

101.8
33.1

112.9
33.5

104.7
35.7

119.9
34.9

122.0
33.5

138.0
30.5

13
14

33.5
18.1

45.6
24.0

50.1
34.7

49.5
37.9

51.6
57.8

56.0
82.1

59.5
74.1

63.7
85.3

69.0
70.1

74.4
67.9

80.1
34.1

15
16

13
14

Corporate equities
Mutual fund shares

15
16

Taxes receivable
Miscellaneous assets

17

1785.4

1828.3

1959.2

1987.6

2043.7

2072.6

2127.6

2157.7

2218.3

2233.1

2270.3

17

18

Credit market instruments

1176.9

1192.3

1298.1

1320.0

1370.1

1393.0

1442.0

1466.1

1520.7

1529.5

1560.7

18

19
20
21
22

Municipal securities
Short-term
Other
U.S. government loans

1167.1
43.7
1123.4
9.7

1183.6
45.1
1138.5
8.7

1289.2
69.0
1220.2
8.9

1310.9
70.1
1240.9
9.0

1361.0
75.2
1285.8
9.1

1383.8
83.6
1300.2
9.3

1432.6
94.2
1338.4
9.4

1456.6
92.8
1363.8
9.5

1511.1
92.2
1418.9
9.6

1519.9
94.9
1425.0
9.6

1551.1
101.1
1449.9
9.7

19
20
21
22

608.6

635.9

661.1

667.6

673.6

679.6

685.6

691.6

697.6

703.6

709.6

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
13

Agency securities
Other loans and advances
Mortgages
Consumer credit (1)
Trade receivables
Taxes receivable
Miscellaneous assets
Total liabilities

14
15

SDR certificates
Treasury currency

16

Credit market instruments

17
18
19
20
21
22
23
24
25

Savings bonds
Other Treasury securities
Budget agency securities
Multifamily residential mortgages
Trade payables
Insurance reserves
Miscellaneous liabilities (2)
Nonmarketable securities held by pension plans
Other

560.5

513.8

614.9

600.4

573.9

638.1

612.7

601.1

621.4

641.7

633.6

1

44.4
87.9
5.4

41.0
24.3
6.3

43.1
66.9
10.5

42.2
25.2
15.2

42.5
54.9
9.9

48.8
77.7
18.4

51.1
47.5
27.6

51.7
23.3
18.4

52.9
41.8
27.8

54.8
53.3
9.1

55.1
54.1
2.4

2
3
4

261.1

272.7

278.7

281.0

280.1

287.9

288.5

284.1

281.9

286.9

284.7

5

0.0
132.4
77.7
50.9

0.0
128.8
76.9
67.0

0.0
122.9
75.8
80.1

0.0
121.1
75.7
84.2

0.0
120.3
75.5
84.3

0.0
119.4
75.0
93.4

0.0
119.4
76.3
92.8

0.0
119.6
73.9
90.6

0.0
118.8
74.0
89.1

0.0
118.0
73.6
95.3

0.0
116.8
73.8
94.1

6
7
8
9

22.9
38.5
100.4

28.1
42.4
99.0

35.5
79.8
100.3

35.9
99.5
101.3

34.6
50.6
101.4

33.7
70.8
100.8

33.1
64.3
100.6

31.7
90.0
101.8

30.4
85.0
101.6

32.5
103.1
101.9

32.6
102.8
101.9

10
11
12

4498.1

4227.2

4288.7

4328.7

4361.4

4462.1

4572.6

4615.7

4734.3

4864.2

5016.1

13

6.2
20.9

2.2
23.2

2.2
24.5

2.2
24.7

2.2
24.8

2.2
25.5

2.2
25.5

2.2
25.6

2.2
26.0

2.2
26.0

2.2
26.0

14
15

3681.0

3385.1

3379.5

3430.3

3451.4

3540.8

3637.0

3700.6

3806.9

3914.5

4033.1

16

186.4
3466.2
28.3
0.0

184.8
3173.0
27.3
0.0

190.3
3162.4
26.8
0.0

191.9
3212.1
26.3
0.0

192.7
3231.9
26.8
0.0

193.3
3320.4
27.2
0.0

194.9
3414.9
27.3
0.0

196.9
3476.8
26.9
0.0

199.1
3580.8
27.0
0.0

201.5
3686.0
27.0
0.0

203.8
3804.4
24.9
0.0

17
18
19
20

64.5
35.0
690.6
684.0
6.6

69.0
36.4
711.3
704.9
6.4

72.7
37.8
772.0
765.8
6.2

73.8
37.7
760.0
753.7
6.3

75.5
38.7
768.7
762.6
6.2

75.0
38.7
779.9
773.7
6.2

72.2
39.4
796.3
790.3
6.0

74.0
39.4
773.9
767.8
6.1

74.8
39.8
784.6
778.6
6.0

87.4
39.9
794.1
788.1
6.0

93.5
40.5
820.8
815.0
5.8

21
22
23
24
25

(1) Student loans.
(2) Includes nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund, and foreign service retirement
and disability fund.

67

Z.1, March 4, 2004

L.107 Rest of the World
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

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

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

5772.1

6446.3

6749.8

6825.5

6991.5

7201.0

7069.6

7276.7

7465.6

7516.1

7802.5

1

140.3
298.3
101.6
79.9

161.1
294.1
103.5
91.3

115.5
318.3
83.3
150.7

83.6
325.7
88.3
128.2

55.1
331.0
92.8
159.6

72.6
331.0
92.7
205.2

119.7
341.5
95.3
190.1

92.1
349.5
102.8
161.5

49.5
363.8
100.6
361.8

76.4
356.3
65.2
423.9

124.7
368.4
86.8
460.3

2
3
4
5

2306.8

2476.9

2724.3

2789.5

2900.9

3003.2

3131.0

3231.9

3420.7

3540.4

3742.3

6

102.3
1380.6
693.8
617.7
76.1

111.9
1471.4
749.9
625.2
124.7

118.1
1593.5
798.8
650.7
148.1

126.2
1617.9
805.1
649.7
155.4

129.9
1686.7
826.8
664.8
162.0

130.6
1778.3
839.1
666.2
172.9

135.4
1883.6
898.0
710.6
187.4

139.7
1927.3
929.8
732.9
196.9

153.6
2021.3
968.4
768.2
200.2

146.3
2046.0
988.0
784.5
203.5

152.7
2170.6
1056.2
838.1
218.1

7
8
9
10
11

686.8
462.8
224.1

721.5
401.0
320.5

794.7
389.0
405.7

812.8
400.8
412.0

859.9
415.0
444.9

939.2
472.5
466.7

985.6
503.6
482.0

997.5
517.7
479.8

1052.9
574.9
478.0

1057.9
624.4
433.6

1114.4
650.9
463.5

12
13
14

704.3
119.5

776.3
117.3

896.9
115.7

935.9
109.5

964.3
119.9

960.5
133.7

986.2
125.8

1050.0
115.0

1119.7
126.1

1223.0
125.2

1293.9
125.0

15
16

17
18
19

U.S. corporate equities
Trade receivables
Security credit

1611.5
47.4
0.0

1625.6
47.0
0.0

1533.9
43.9
0.0

1592.4
46.1
0.0

1424.6
46.3
0.0

1197.3
46.7
0.0

1222.7
47.0
0.0

1154.1
47.3
0.0

1363.8
47.2
0.0

1394.9
45.6
0.0

1618.4
43.9
0.0

17
18
19

20
21
22

Miscellaneous assets
Foreign direct investment in U.S. (2)
Other

1186.3
1216.0
-29.7

1646.8
1316.2
330.6

1779.9
1383.2
396.7

1771.9
1393.1
378.8

1981.1
1395.5
585.7

2252.4
1410.3
842.1

1922.2
1521.0
401.2

2137.6
1554.8
582.8

1758.3
1579.4
178.8

1613.5
1587.6
25.9

1357.7
1619.0
-261.3

20
21
22

3147.8

3488.0

3566.9

3695.5

3802.0

4149.3

3757.1

3940.7

3664.4

3580.2

3507.8

23

23

Total liabilities

24
25

U.S. official foreign exchange
and net IMF position
U.S. private deposits

50.1
686.1

46.1
820.3

46.8
851.0

45.7
840.1

47.2
856.6

53.1
869.8

55.8
874.9

57.6
870.7

58.9
910.6

61.3
850.1

62.3
846.7

24
25

26

Credit market instruments

652.5

709.5

659.7

675.9

674.1

665.7

665.6

669.9

653.0

639.5

651.6

26

89.2
452.5

120.9
467.7

106.7
443.2

123.6
439.6

130.2
426.1

134.0
417.3

142.8
409.8

155.7
402.5

173.1
377.0

160.4
375.7

165.1
384.6

27
28

59.2
3.0
9.9
46.4
47.8
3.9

70.5
3.5
13.2
53.8
47.2
3.1

63.2
4.3
5.9
53.1
46.0
0.5

66.7
4.2
6.1
56.5
45.4
0.6

72.2
4.8
9.7
57.8
45.1
0.5

69.3
5.0
7.8
56.5
44.6
0.5

68.6
5.1
5.1
58.4
44.3
0.2

67.6
4.7
5.5
57.4
44.0
0.1

59.7
4.7
4.9
50.1
43.0
0.1

61.0
4.4
3.9
52.8
42.2
0.1

60.9
4.6
3.7
52.7
40.9
0.2

29
30
31
32
33
34

49.1
0.0

49.9
0.0

47.8
0.0

45.2
0.0

42.8
0.0

40.5
0.0

37.6
0.0

46.3
0.0

46.9
0.0

46.4
0.0

48.4
0.0

35
36

1710.1
33.9
2.6
1414.4
259.3

1862.3
35.4
2.6
1529.7
294.6

1961.5
37.1
2.6
1598.1
323.8

2088.6
37.5
2.6
1639.6
408.9

2181.3
37.9
2.5
1677.3
463.6

2520.1
38.2
2.6
1711.7
767.6

2123.2
38.7
2.7
1751.9
330.0

2296.3
39.1
2.6
1788.1
466.4

1995.0
39.6
2.7
1819.4
133.3

1982.9
39.9
2.7
1859.4
80.9

1898.9
40.3
2.7
1889.8
-34.0

37
38
39
40
41

2003.7

1852.9

1612.7

1515.9

1491.0

1179.9

1345.2

1270.2

1516.9

1661.3

1943.5

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, March 4, 2004

L.108 Monetary Authority (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1

Total financial assets

2003

Q2

Q3

Q4

Q1

Q2

Q3

Q4

636.0

683.0

686.7

706.9

710.2

753.6

756.7

769.0

778.9

796.9

1

26.6
2.2
31.6

25.5
2.2
33.0

25.3
2.2
33.6

27.1
2.2
34.0

27.1
2.2
34.3

27.9
2.2
34.6

28.3
2.2
34.8

28.8
2.2
35.1

29.6
2.2
35.3

30.8
2.2
35.5

2
3
4

Federal Reserve float
Fed. Res. loans to domestic banks
Security RPs

-0.2
0.2
140.6

0.9
0.1
43.4

-0.0
0.0
50.3

-0.5
0.0
29.5

-0.2
0.2
32.0

0.4
0.2
21.8

0.4
0.0
39.5

-1.2
0.0
31.8

-0.5
0.8
31.8

-0.5
0.2
37.5

-0.3
0.1
43.8

5
6
7

Credit market instruments

478.1

511.8

551.7

575.4

590.7

604.2

629.4

641.5

652.1

656.1

666.7

8

0.0
478.1
478.0
0.2
0.0

0.0
511.8
511.7
0.1
0.0

0.0
551.7
551.7
0.0
0.0

0.0
575.4
575.4
0.0
0.0

0.0
590.7
590.7
0.0
0.0

0.0
604.2
604.2
0.0
0.0

0.0
629.4
629.4
0.0
0.0

0.0
641.5
641.5
0.0
0.0

0.0
652.1
652.1
0.0
0.0

0.0
656.1
656.1
0.0
0.0

0.0
666.7
666.7
0.0
0.0

9
10
11
12
13

16.8

19.3

20.3

21.2

21.0

20.1

19.6

19.3

18.9

18.5

18.3

14

690.5

629.2

675.7

678.7

697.4

701.2

745.3

747.2

760.0

768.7

788.1

15

5
6
7
8

15

2002
Q1

27.1
6.2
28.0

Gold and foreign exchange
SDR certificates
Treasury currency

14

2001

696.9

2
3
4

9
10
11
12
13

2000

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

24.0
66.6

19.0
44.4

17.5
47.3

22.4
34.9

22.3
36.5

23.2
37.9

22.5
47.8

26.8
38.5

27.7
39.5

29.1
40.4

23.1
47.9

16
17

18
19
20
21

Checkable deposits and currency
Due to federal government
Due to rest of the world
Currency outside banks

590.4
28.5
0.1
561.8

555.2
5.6
0.3
549.3

603.1
7.1
0.1
596.0

613.3
6.1
0.3
607.0

630.0
8.5
0.1
621.4

630.7
8.3
0.2
622.2

644.6
4.8
0.1
639.7

654.7
7.1
0.3
647.3

662.1
7.3
1.0
653.8

665.5
7.6
0.1
657.8

682.5
6.0
0.2
676.3

18
19
20
21

22
23
24

Miscellaneous liabilities
Federal Reserve Bank stock
Other

9.4
6.4
3.0

10.6
7.0
3.6

7.7
7.4
0.4

8.0
7.6
0.4

8.6
8.3
0.3

9.5
8.3
1.2

30.3
8.4
21.9

27.2
8.5
18.7

30.7
8.7
22.0

33.7
8.7
25.0

34.6
8.8
25.7

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, March 4, 2004

L.109 Commercial Banking (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1

Total financial assets

2
3
4

Vault cash
Reserves at Federal Reserve
Checkable deposits and currency

5

Total bank credit

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

5982.5

6468.7

6829.0

6809.6

6958.6

7161.8

7329.2

7430.8

7619.1

7639.0

7812.2

1

66.6
19.3
2.2

44.4
17.4
1.7

47.3
15.2
2.8

34.9
20.2
1.7

36.5
19.1
2.7

37.9
20.5
2.7

47.8
19.5
2.5

38.5
24.0
3.0

39.5
25.0
3.0

40.4
25.7
2.4

47.9
19.1
2.5

2
3
4

4788.5

5200.8

5411.3

5416.1

5521.2

5660.3

5811.4

5891.8

6058.3

6061.4

6202.7

5

U.S. government securities
Treasury
Agency

928.5
228.9
699.6

906.4
184.5
721.8

940.1
162.7
777.4

974.2
165.9
808.3

1040.6
183.8
856.8

1081.9
192.0
889.9

1123.7
205.8
917.9

1097.8
136.7
961.2

1162.1
127.2
1035.0

1095.2
127.5
967.8

1133.3
133.8
999.5

6
7
8

9
10

Municipal securities
Corporate and foreign bonds

110.8
220.5

114.1
278.6

120.2
376.4

118.7
373.7

118.3
358.8

121.2
368.9

121.7
379.1

123.2
470.8

127.1
473.3

131.9
483.1

132.5
506.4

9
10

11
12
13
14
15
16

Total loans
Open market paper
Bank loans n.e.c.
Mortgages
Consumer credit
Security credit

3505.1
1.4
1383.8
1495.4
499.8
124.8

3874.8
1.5
1496.6
1660.1
541.5
175.2

3944.4
0.0
1421.0
1789.8
558.4
175.2

3918.7
0.0
1409.1
1800.3
550.7
158.5

3980.3
0.0
1377.8
1873.1
554.9
174.6

4074.7
0.0
1361.7
1962.0
575.7
175.3

4163.8
0.0
1340.4
2058.3
587.2
177.9

4184.4
0.0
1302.3
2099.4
575.3
207.4

4272.8
0.0
1287.2
2193.1
584.2
208.3

4327.0
0.0
1260.3
2263.9
593.7
209.1

4398.3
0.0
1292.4
2256.0
636.4
213.5

11
12
13
14
15
16

17
18

Corporate equities
Mutual fund shares

11.3
12.4

11.9
15.0

8.9
21.3

8.5
22.3

4.9
18.2

0.0
13.6

3.5
19.6

2.0
13.5

6.7
16.3

9.7
14.5

15.1
17.1

17
18

8.2
1097.7

7.5
1196.9

4.6
1347.9

4.5
1332.2

4.8
1374.3

4.8
1435.7

4.6
1443.4

4.8
1468.7

4.5
1488.8

4.3
1504.8

4.4
1535.6

19
20

5833.5

6407.1

6770.3

6699.6

6894.0

7102.5

7330.6

7415.9

7593.9

7667.8

7854.4

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

111.8
-0.0
-28.5
140.3

157.8
1.0
-4.3
161.1

126.6
0.0
11.1
115.5

105.1
-0.5
21.9
83.6

72.6
-0.1
17.5
55.1

89.7
0.6
16.5
72.6

135.5
0.5
15.3
119.7

110.2
-1.2
19.3
92.1

56.5
0.2
6.8
49.5

94.2
-0.3
18.1
76.4

136.4
-0.3
12.0
124.7

22
23
24
25

26
27
28
29

Checkable deposits
Federal government
Rest of the world
Private domestic

626.4
49.6
43.6
533.2

540.9
16.4
33.9
490.6

628.8
47.5
34.5
546.9

523.0
9.5
37.2
476.4

536.5
37.1
35.5
463.9

563.2
54.6
32.8
475.8

571.4
31.1
36.1
504.3

575.6
43.6
39.0
493.0

575.2
17.4
51.3
506.5

526.5
-6.8
41.8
491.5

502.8
-69.5
46.3
526.0

26
27
28
29

30
31
32

Small time and savings deposits
Large time deposits
Federal funds and security RPs (net)

2017.1
792.6
750.0

2228.7
885.4
816.1

2478.1
918.1
786.5

2560.6
960.7
768.5

2598.0
966.7
805.7

2684.0
956.7
834.9

2747.8
915.6
902.0

2833.5
940.5
896.6

2913.7
934.8
992.4

2935.5
933.6
972.8

2978.3
934.5
1069.2

30
31
32

33

Credit market instruments

449.3

509.3

562.1

564.8

574.4

590.6

612.0

627.6

639.5

638.9

661.4

33

63.1
240.6
145.6

63.6
273.2
172.4

55.4
310.2
196.6

60.9
304.8
199.0

48.4
313.8
212.2

51.5
317.4
221.7

52.9
332.2
226.9

49.4
352.9
225.3

44.2
359.7
235.6

45.2
361.2
232.5

46.7
379.2
235.5

34
35
36

9.0
1077.4

11.1
1257.8

13.5
1256.6

14.1
1202.8

14.8
1325.5

15.5
1368.0

16.2
1430.1

16.9
1414.9

17.6
1464.2

18.3
1548.1

19.1
1552.8

37
38

4648.3

5006.3

5210.5

5231.3

5328.3

5476.2

5614.9

5673.6

5831.6

5832.4

5961.5

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, March 4, 2004

L.110 U.S.-Chartered Commercial Banks
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1

Total financial assets

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

4431.2

4774.1

5014.5

4998.6

5108.2

5273.8

5427.1

5519.2

5683.7

5704.5

5839.8

1

84.4

61.3

61.9

54.5

54.7

57.4

66.1

61.3

63.4

63.7

66.2

2

4164.5

4515.2

4718.6

4737.3

4823.7

4953.1

5102.3

5158.3

5324.2

5350.0

5481.6

3

U.S. government securities
Treasury
Agency
Mortgage pool securities
Agency-issued CMOs
Other agency securities

731.1
122.8
608.3
283.7
120.9
203.8

714.4
87.9
626.5
297.8
111.0
217.6

756.7
56.5
700.2
350.6
168.2
181.4

793.7
68.6
725.1
359.8
166.4
198.9

842.5
75.2
767.3
415.6
145.6
206.1

869.0
74.6
794.4
431.3
156.4
206.7

907.7
86.4
821.3
434.9
159.1
227.4

955.7
89.3
866.4
466.2
179.5
220.7

1013.9
77.9
936.0
526.1
179.3
230.5

953.7
81.2
872.5
472.2
158.5
241.8

999.9
93.5
906.4
491.5
161.4
253.5

4
5
6
7
8
9

10
11
12
13
14

Municipal securities
Corporate and foreign bonds
Private mortgage pool securities
Privately issued CMOs
Other bonds

110.2
161.8
4.5
48.8
108.5

113.4
214.0
4.1
56.5
153.4

119.7
278.5
25.3
59.3
193.9

118.2
281.6
19.0
60.7
201.9

117.9
267.5
13.8
57.0
196.7

120.7
274.6
12.0
66.3
196.3

121.2
283.5
12.0
67.4
204.2

122.7
288.5
10.6
78.1
199.8

126.6
281.8
10.3
78.4
193.0

131.3
302.3
11.4
84.2
206.7

131.9
330.6
12.2
92.6
225.8

10
11
12
13
14

15
16
17
18
19
20

Total loans
Open market paper
Bank loans n.e.c.
Mortgages
Consumer credit
Security credit

3137.8
0.7
1104.3
1465.4
499.8
67.6

3446.5
0.9
1202.4
1627.0
541.5
74.7

3533.6
0.0
1140.5
1752.8
558.4
81.9

3513.0
0.0
1118.9
1762.7
550.7
80.7

3572.6
0.0
1098.1
1834.7
554.9
84.9

3675.3
0.0
1092.3
1922.3
575.7
84.9

3766.7
0.0
1081.9
2018.5
587.2
79.2

3775.8
0.0
1050.6
2058.5
575.3
91.5

3878.9
0.0
1039.3
2150.9
584.2
104.5

3938.6
0.0
1029.5
2216.1
593.7
99.4

3987.1
0.0
1045.5
2213.6
636.4
91.5

15
16
17
18
19
20

21
22

Corporate equities
Mutual fund shares

11.3
12.4

11.9
15.0

8.9
21.3

8.5
22.3

4.9
18.2

0.0
13.6

3.5
19.6

2.0
13.5

6.7
16.3

9.7
14.5

15.1
17.1

21
22

6.6
175.6

5.9
191.7

3.6
230.4

3.5
203.3

4.0
225.8

3.8
259.5

3.9
254.7

4.3
295.2

4.1
292.0

3.8
287.0

3.8
288.2

23
24

4685.6

5169.7

5455.3

5396.4

5543.8

5728.8

5948.0

6023.6

6189.5

6273.2

6425.8

25

2

Vault cash and reserves at Federal Reserve

3

Total bank credit

4
5
6
7
8
9

23
24
25

Customers’ liab. on acceptances (1)
Miscellaneous assets
Total liabilities

26
27
28
29
30

Net interbank liabilities
Federal Reserve float
Borrowing from Federal Reserve banks
To domestic banks
To foreign banks

56.9
-0.2
0.2
-67.3
124.1

137.5
0.9
0.1
-33.0
169.5

138.2
-0.0
0.0
-17.8
155.9

119.4
-0.5
0.0
0.1
119.7

129.5
-0.2
0.2
-3.9
133.5

116.9
0.4
0.2
-1.5
117.9

192.4
0.4
0.0
0.2
191.8

177.7
-1.2
0.0
-15.2
194.0

133.0
-0.5
0.8
-61.5
194.3

173.5
-0.5
0.2
-57.8
231.6

222.9
-0.3
0.1
-65.2
288.4

26
27
28
29
30

31
32
33
34

Checkable deposits
Federal government
Rest of the world
Private domestic

608.7
49.6
37.6
521.5

523.7
16.4
28.3
479.0

608.2
47.5
31.2
529.5

503.7
9.5
34.4
459.8

515.7
37.1
33.4
445.2

543.4
54.6
30.8
458.1

552.7
31.1
33.2
488.4

556.8
43.6
36.7
476.4

552.9
17.4
48.6
486.9

506.3
-6.8
39.5
473.6

481.4
-69.5
43.8
507.1

31
32
33
34

35
36
37

Small time and savings deposits
Large time deposits
Federal funds and security RPs (net)

1997.4
465.7
667.0

2208.0
553.6
682.4

2448.3
528.4
663.9

2533.4
524.2
671.3

2568.8
528.1
683.3

2656.3
551.8
694.3

2722.0
552.7
737.4

2808.5
569.1
698.7

2888.4
572.5
786.6

2908.8
569.7
802.9

2950.2
555.7
905.6

35
36
37

38
39
40
41

Acceptance liabilities
Corporate bonds
Other loans and advances
Taxes payable

6.6
75.8
145.6
9.0

6.0
86.4
172.4
11.1

3.7
94.7
196.6
13.5

3.5
92.3
199.0
14.1

4.0
93.1
212.2
14.8

3.8
92.1
221.7
15.5

3.9
94.1
226.9
16.2

4.3
94.7
225.3
16.9

4.1
96.6
235.6
17.6

3.8
97.3
232.5
18.3

3.8
99.6
235.5
19.1

38
39
40
41

42
43
44

Miscellaneous liabilities
Investment by bank holding companies
Other

653.1
471.9
181.2

788.6
525.4
263.2

759.8
586.1
173.7

735.3
593.8
141.5

794.4
609.8
184.5

832.9
630.4
202.5

849.6
639.2
210.4

871.7
650.1
221.6

902.2
667.0
235.2

960.2
679.6
280.5

952.0
689.1
263.0

42
43
44

4080.0

4419.5

4610.1

4629.3

4719.7

4858.4

5003.9

5055.6

5200.8

5230.3

5361.7

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, March 4, 2004

L.111 Foreign Banking Offices in U.S. (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1

Total financial assets

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

750.9

789.4

791.9

769.7

789.6

804.0

801.1

778.5

750.1

728.0

733.2

1

1.4

0.5

0.6

0.6

1.0

0.9

1.2

1.1

1.1

2.4

0.9

2

543.0

610.2

603.0

584.5

601.4

610.6

615.0

634.4

620.9

599.6

607.1

3

U.S. government securities
Treasury
Agency
Municipal securities
Corporate and foreign bonds

166.9
94.5
72.4
0.0
42.4

166.7
94.0
72.7
0.0
50.7

154.5
103.8
50.7
0.0
81.3

145.7
94.1
51.7
0.0
76.8

161.0
105.7
55.3
0.0
77.0

176.5
115.0
61.5
0.0
79.9

178.3
116.7
61.6
0.0
81.6

104.3
44.3
60.0
0.0
164.0

107.6
44.5
63.1
0.0
167.2

94.9
40.1
54.8
0.0
165.5

86.7
34.2
52.5
0.0
160.9

4
5
6
7
8

9
10
11
12
13

Total loans
Open market paper
Bank loans n.e.c.
Mortgages
Security credit

333.8
0.6
260.0
15.9
57.2

392.8
0.6
274.6
17.1
100.5

367.2
0.0
256.1
17.9
93.3

362.0
0.0
265.9
18.3
77.9

363.5
0.0
255.2
18.6
89.7

354.3
0.0
244.9
19.0
90.4

355.2
0.0
237.5
19.0
98.7

366.1
0.0
231.2
18.9
115.9

346.2
0.0
223.1
19.3
103.8

339.2
0.0
205.7
23.7
109.8

359.6
0.0
220.4
17.2
121.9

9
10
11
12
13

14

Corporate equities

0.0

0.0

0.0

0.0

0.0

0.0

0.0

0.0

0.0

0.0

0.0

14

1.6
204.9

1.6
177.1

1.0
187.2

1.0
183.7

0.9
186.3

1.0
191.5

0.6
184.2

0.5
142.5

0.4
127.6

0.5
125.5

0.6
124.6

15
16

776.4

818.4

824.8

803.8

824.7

840.2

838.4

817.0

789.8

769.0

775.4

17

48.2
41.5
6.7

7.4
-15.5
22.9

-9.3
-50.9
41.6

-13.1
-58.7
45.6

-56.1
-97.9
41.8

-27.6
-69.5
41.9

-51.6
-83.1
31.5

-61.1
-103.8
42.7

-78.8
-111.8
33.0

-84.6
-122.2
37.6

-92.1
-129.9
37.8

18
19
20

9.1
7.5
314.8

8.7
7.2
318.2

9.1
11.6
371.5

8.1
8.5
417.7

7.5
9.7
419.1

7.5
8.3
385.4

8.4
9.4
346.4

8.0
8.7
355.2

10.0
8.9
346.0

8.8
9.7
346.9

9.4
10.3
361.0

21
22
23

82.5
2.0

134.8
2.0

123.9
1.1

96.1
1.0

121.4
0.9

139.3
1.1

163.4
0.7

191.8
0.5

197.1
0.5

167.7
0.5

161.5
0.6

24
25

312.2
62.0
93.0
157.2

340.1
64.2
138.7
137.2

316.9
71.6
107.9
137.4

285.5
71.8
103.2
110.5

322.3
68.6
124.3
129.4

326.2
68.8
121.5
135.8

361.8
80.7
132.6
148.5

314.0
83.9
128.3
101.8

306.2
82.9
124.8
98.5

320.0
83.5
118.3
118.2

324.7
84.0
130.8
109.9

26
27
28
29

487.4

511.3

510.7

507.7

512.6

521.2

516.9

519.0

517.6

490.3

485.8

30

2

Reserves at Federal Reserve

3

Total bank credit

4
5
6
7
8

15
16
17

Customers’ liab. on acceptances (2)
Miscellaneous assets
Total liabilities

18
19
20

Net interbank liabilities
To foreign banks
To domestic banks

21
22
23

Checkable deposits
Small time and savings deposits
Large time deposits

24
25

Federal funds and security RPs (net)
Acceptance liabilities

26
27
28
29

Miscellaneous liabilities
Foreign direct investment in U.S.
Due to affiliates
Other
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, March 4, 2004

L.112 Bank Holding Companies
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

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

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

741.2

841.9

942.4

959.5

976.2

998.6

1025.8

1056.5

1104.6

1121.0

1151.6

1

32.7

20.5

24.7

27.7

28.1

27.7

27.8

33.0

42.9

36.4

36.4

2

14.1
8.8
5.4
15.9
2.6

5.6
0.8
4.8
13.2
1.6

7.4
1.2
6.2
15.3
1.9

11.5
1.3
10.2
14.1
2.1

13.2
1.7
11.5
12.8
2.1

12.3
1.4
10.9
13.3
2.1

12.0
1.3
10.7
12.9
2.9

12.8
1.3
11.4
17.6
2.6

13.3
2.4
10.9
23.0
6.7

15.2
3.0
12.2
14.3
6.8

14.4
2.7
11.6
14.2
7.9

3
4
5
6
7

708.5
471.9
151.3
85.4

821.4
525.4
189.7
106.3

917.8
586.1
219.5
112.2

931.8
593.8
222.9
115.1

948.1
609.8
218.4
119.9

970.9
630.4
209.0
131.5

998.1
639.2
219.3
139.5

1023.5
650.1
227.8
145.7

1061.7
667.0
247.6
147.1

1084.7
679.6
255.2
149.9

1115.2
689.1
264.3
161.9

8
9
10
11

314.6

358.7

413.4

421.1

444.4

452.0

473.1

503.0

538.3

544.9

570.7

12

6.7
32.1
-25.4

12.9
5.8
7.1

-2.3
-12.8
10.4

-1.2
-23.8
22.6

-0.9
-20.4
19.5

0.3
-23.9
24.2

-5.3
-16.4
11.1

-6.4
-8.2
1.8

2.4
35.3
-32.9

5.3
38.3
-33.0

5.6
39.4
-33.8

13
14
15

0.5

-1.1

-1.2

1.0

1.0

1.3

1.2

6.2

8.8

2.2

2.1

16

219.3
54.5
164.8

242.5
55.7
186.8

266.1
50.6
215.5

269.0
56.5
212.5

264.2
43.4
220.7

271.8
46.6
225.3

286.4
48.3
238.1

302.8
44.6
258.2

302.7
39.6
263.1

304.8
40.9
263.9

321.9
42.3
279.6

17
18
19

88.1

104.4

150.8

152.3

180.1

178.6

190.9

200.4

224.5

232.7

241.2

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

59.2

63.3

80.2

81.8

84.6

85.3

75.2

76.6

80.8

85.4

87.5

1

2.2

1.7

2.8

1.7

2.7

2.7

2.5

3.0

3.0

2.4

2.5

2

48.3

55.0

65.0

66.6

67.9

68.8

66.3

66.1

70.3

75.5

77.6

3

U.S. government securities
Treasury
Agency
Municipal securities
Corporate and foreign bonds

16.3
2.8
13.5
0.6
0.5

19.6
1.8
17.8
0.7
0.8

21.5
1.2
20.3
0.5
1.4

23.3
2.0
21.3
0.4
1.2

23.9
1.1
22.8
0.4
1.4

24.1
1.1
23.1
0.5
1.1

25.7
1.5
24.2
0.5
1.1

25.0
1.7
23.4
0.5
0.7

27.4
2.4
25.0
0.5
1.4

31.5
3.2
28.3
0.6
1.0

32.4
3.4
28.9
0.6
0.8

4
5
6
7
8

Bank loans n.e.c.
Home mortgages
Commercial mortgages

16.9
8.1
6.0

18.0
9.1
6.8

22.5
8.2
11.0

22.2
8.2
11.2

22.4
8.6
11.1

22.4
9.2
11.5

18.1
9.6
11.3

17.9
10.6
11.4

18.2
11.2
11.7

18.2
11.6
12.5

18.6
12.3
12.9

9
10
11

2

Checkable deposits and currency

3

Credit market instruments

4
5
6
7
8
9
10
11
12
13

Miscellaneous assets
Total liabilities

8.7

6.6

12.5

13.5

14.1

13.8

6.4

7.5

7.5

7.6

7.5

12

56.9

60.4

76.8

78.4

81.1

81.4

71.0

72.3

76.2

80.7

82.5

13

14
15
16

Checkable deposits
Small time and savings deposits
Large time deposits

8.5
12.2
12.2

8.4
13.6
13.6

11.5
18.1
18.1

11.2
18.7
18.7

13.3
19.5
19.5

12.2
19.5
19.5

10.3
16.4
16.4

10.9
16.3
16.3

12.2
16.3
16.3

11.4
17.0
17.0

12.0
17.8
17.8

14
15
16

17

Miscellaneous liabilities

24.1

24.8

29.0

29.7

28.7

30.3

27.8

28.8

31.4

35.2

34.9

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, March 4, 2004

L.114 Savings Institutions (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

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

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

1150.5

1217.7

1299.1

1318.3

1305.6

1338.3

1357.4

1407.8

1437.1

1471.7

1475.1

1

4.7
17.4
1.3
10.6

1.7
19.0
1.4
14.9

2.3
21.0
2.2
27.4

2.2
21.1
2.8
31.2

3.2
20.1
2.7
24.9

2.7
22.1
3.6
29.0

3.0
24.7
2.6
27.1

2.8
23.9
2.6
29.7

2.7
27.4
2.7
25.6

3.4
25.9
2.7
24.8

3.9
24.3
2.6
21.0

2
3
4
5

1032.4

1088.6

1131.4

1134.7

1130.9

1153.8

1166.8

1214.4

1238.8

1261.4

1293.6

6

7
8
9
10

Open market paper
U.S. government securities
Treasury
Agency

0.0
157.2
10.1
147.1

0.0
149.2
8.7
140.4

0.0
172.8
11.4
161.4

0.0
187.7
14.1
173.6

0.0
185.3
12.7
172.6

0.0
178.8
10.3
168.5

0.0
185.4
9.2
176.2

0.0
195.3
9.2
186.1

0.0
202.3
10.0
192.4

0.0
204.5
11.2
193.3

0.0
211.6
12.2
199.3

7
8
9
10

11
12
13
14
15

Municipal securities
Corporate and foreign bonds
Other loans and advances
Mortgages
Consumer credit

3.0
111.9
30.6
668.1
61.5

3.2
109.4
39.3
723.0
64.6

4.5
83.9
42.9
758.2
69.1

4.6
83.3
44.5
746.0
68.6

4.8
85.2
44.3
742.7
68.5

4.9
85.8
45.4
773.7
65.2

5.5
79.9
46.2
781.4
68.5

5.5
81.9
47.4
815.9
68.4

5.8
75.4
48.2
833.6
73.6

6.3
68.6
57.4
852.1
72.5

6.3
71.1
56.4
870.7
77.7

11
12
13
14
15

23.8
60.2

24.2
67.8

27.9
87.0

28.3
98.0

28.6
95.1

28.6
98.5

29.1
104.2

29.9
104.4

30.6
109.3

31.1
122.6

30.4
99.3

16
17

1119.6

1185.8

1264.1

1284.1

1267.0

1299.4

1318.1

1367.4

1397.7

1430.3

1431.6

18

699.3
222.3
354.7
122.2

726.7
265.8
318.9
142.1

773.6
316.5
288.2
168.9

801.3
328.4
289.8
183.2

803.1
344.3
274.9
183.9

823.8
356.6
264.4
202.7

840.5
370.9
256.5
213.1

860.5
384.2
251.8
224.5

875.1
399.5
238.0
237.6

893.1
413.9
240.9
238.3

899.8
428.3
226.0
245.5

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

24
25
26
27

Credit market instruments
Corporate bonds
Bank loans n.e.c.
Other loans and advances

28
29
30
31

Taxes payable
Miscellaneous liabilities
Investment by parent
Other

72.7

66.7

72.4

78.1

69.8

61.0

57.4

60.8

64.6

65.6

77.5

23

260.4
2.7
14.0
243.7

287.7
6.3
21.5
260.0

295.1
3.6
23.0
268.5

280.5
3.5
22.9
254.2

275.3
2.9
24.0
248.4

286.3
2.9
25.5
257.9

281.4
3.4
27.2
250.8

287.2
4.8
15.1
267.3

277.0
4.8
15.9
256.2

277.9
5.0
15.4
257.5

280.9
5.1
13.9
261.8

24
25
26
27

2.0
85.1
6.0
79.2

2.5
102.3
6.6
95.7

1.7
121.3
7.4
113.9

1.5
122.5
7.6
114.9

1.5
117.3
7.8
109.5

1.5
126.8
8.1
118.8

1.5
137.2
8.3
128.9

1.4
157.5
8.5
148.9

1.4
179.5
8.8
170.8

1.6
192.3
9.1
183.2

1.3
172.1
9.3
162.8

28
29
30
31

(1) Savings and loan associations, mutual savings banks, and federal savings banks.

74

Z.1, March 4, 2004

L.115 Credit Unions
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

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

10
11

Home mortgages
Consumer credit

12
13

Mutual fund shares
Miscellaneous assets

14

Total liabilities

15
16
17
18

Shares/deposits
Checkable
Small time and savings
Large time

19
20

Other loans and advances
Miscellaneous liabilities

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

414.5

441.1

505.5

532.8

542.5

552.5

560.8

589.2

609.4

612.5

617.3

1

26.4
16.6
9.3

26.7
15.5
4.0

36.8
23.0
2.5

33.5
24.9
7.3

40.4
22.7
2.4

40.4
25.4
5.0

38.4
24.5
1.7

54.8
28.7
4.4

52.4
27.6
2.4

45.6
27.3
2.8

41.5
26.4
1.6

2
3
4

351.7

379.7

421.2

434.3

452.9

455.1

463.9

473.7

495.3

519.1

516.8

5

1.9
70.9
9.6
61.3

1.2
69.2
8.2
60.9

2.4
88.0
7.4
80.6

2.3
98.3
7.6
90.7

3.4
106.2
8.1
98.1

2.7
101.1
8.1
93.0

3.6
105.1
7.8
97.3

2.9
114.5
7.3
107.2

3.4
124.9
8.7
116.2

3.1
134.8
9.1
125.7

1.6
124.4
8.9
115.5

6
7
8
9

111.0
167.9

124.9
184.4

141.3
189.6

146.0
187.7

151.7
191.6

155.4
195.9

159.4
195.7

162.4
193.9

168.4
198.6

176.3
204.9

181.1
209.7

10
11

2.5
8.0

2.2
12.9

3.7
18.3

3.0
29.8

4.0
20.3

4.0
22.7

3.5
28.7

3.4
24.1

4.5
27.2

5.0
12.8

4.1
26.9

12
13

376.1

398.1

458.9

485.4

494.4

501.6

509.0

536.2

555.6

557.3

560.3

14

366.7
45.4
299.8
21.6

389.1
51.3
312.7
25.1

450.2
54.7
361.3
34.1

474.7
53.4
386.3
35.0

482.8
61.1
383.5
38.2

489.0
60.2
388.3
40.4

496.9
59.7
394.4
42.8

527.1
65.9
417.1
44.1

540.0
66.4
423.6
50.1

539.9
64.8
424.9
50.3

544.9
67.4
424.0
53.6

15
16
17
18

3.4
6.0

3.4
5.6

4.9
3.8

5.5
5.2

6.0
5.6

6.8
5.8

6.9
5.1

7.6
1.5

8.0
7.6

8.8
8.5

9.1
6.3

19
20

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)

1104.1

1067.8

929.1

931.5

861.4

779.0

807.9

786.5

843.8

851.7

899.0

1

62.7
0.3
8.7
53.7

69.8
0.2
8.9
60.6

65.1
0.7
11.7
52.8

65.2
0.5
11.5
53.1

65.2
0.3
11.4
53.4

65.2
0.2
11.2
53.8

65.2
0.0
11.1
54.1

65.2
0.1
13.3
51.8

65.1
0.2
15.4
49.5

65.1
0.3
17.6
47.2

65.1
0.4
19.8
44.9

2
3
4
5

222.0

222.8

194.7

195.0

195.2

195.4

195.6

194.9

194.3

193.7

193.2

6

17.1
62.5
17.3
45.2

14.7
61.8
16.3
45.5

11.6
46.7
11.5
35.1

11.6
46.4
11.5
34.9

11.5
46.0
11.4
34.7

11.5
45.7
11.3
34.4

11.4
45.4
11.2
34.2

11.3
44.6
11.1
33.6

11.2
43.9
11.0
32.9

11.1
43.2
10.9
32.2

11.0
42.5
10.9
31.6

7
8
9
10

100.3
39.8
2.2

99.1
44.9
2.3

95.6
38.3
2.5

96.9
37.6
2.5

98.3
36.9
2.5

99.6
36.3
2.4

100.9
35.6
2.3

100.3
36.5
2.2

99.6
37.5
2.1

98.9
38.5
2.0

98.4
39.5
1.9

11
12
13

407.3
391.5

356.8
396.8

280.7
359.1

272.6
370.0

227.1
345.8

177.3
313.6

181.1
339.1

170.1
327.1

192.7
360.0

194.4
364.5

213.1
391.2

14
15

20.5

21.7

29.4

28.8

28.1

27.5

26.8

29.2

31.6

34.0

36.4

16

1130.4

1095.8

960.7

963.2

893.5

811.6

840.9

819.6

877.0

885.0

932.4

17

(1) Personal trusts, estates, and non-managed personal agency accounts at banks, savings institutions, and national nondeposit noninsured trust companies.
(2) Equal to value of tangible and financial assets. These liabilities are assets of the household sector.

75

Z.1, March 4, 2004

L.117 Life Insurance Companies
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1

Total financial assets

2
3

Checkable deposits and currency
Money market fund shares

4

Credit market instruments

5
6
7
8
9
10
11
12

Open market paper
U.S. government securities
Treasury
Agency
Municipal securities
Corporate and foreign bonds
Policy loans
Mortgages

13
14

Corporate equities
Mutual fund shares

15

Miscellaneous assets

16

Total liabilities

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

3067.9

3135.7

3224.6

3308.4

3287.5

3261.1

3335.0

3420.2

3590.7

3663.9

3823.4

1

5.5
131.8

5.0
142.3

36.8
173.3

35.1
169.3

34.6
171.9

43.7
157.9

35.3
159.8

43.8
152.7

43.4
153.4

44.8
152.3

42.5
151.4

2
3

1886.0

1943.9

2074.8

2141.2

2192.3

2265.7

2307.8

2377.6

2437.4

2472.8

2505.8

4

75.8
287.1
62.8
224.4

71.2
293.5
58.1
235.4

59.3
307.2
53.7
253.5

66.1
332.8
59.8
273.0

68.9
356.9
65.7
291.2

80.0
384.4
72.3
312.2

74.0
409.4
78.5
330.9

79.2
422.7
81.4
341.3

76.4
434.6
83.5
351.1

79.0
440.6
84.6
356.0

76.5
446.1
85.1
361.0

5
6
7
8

20.1
1173.2
99.0
230.8

19.1
1222.2
101.9
235.9

18.7
1342.4
104.1
243.0

19.1
1375.5
104.4
243.4

19.3
1397.7
104.3
245.1

19.7
1430.8
104.8
245.9

19.9
1449.3
105.1
250.0

20.2
1499.6
104.7
251.1

20.9
1546.1
105.0
254.3

21.2
1570.3
104.6
257.1

21.4
1597.1
104.9
259.9

9
10
11
12

904.0
103.8

887.0
101.9

806.8
92.7

822.0
93.6

755.1
86.3

663.4
76.5

705.0
80.5

702.8
79.4

803.0
91.9

838.8
96.1

955.7
106.7

13
14

36.9

55.6

40.1

47.3

47.4

53.9

46.8

64.0

61.7

59.1

61.2

15

2882.8

2942.8

3034.8

3119.2

3104.3

3080.6

3140.4

3220.2

3373.8

3439.2

3578.5

16

17
18
19

Other loans and advances
Life insurance reserves
Pension fund reserves (1)

3.2
748.9
1431.0

2.5
782.7
1456.1

3.1
842.2
1465.3

3.7
856.4
1490.4

4.0
862.4
1470.1

4.5
864.2
1434.4

5.1
881.6
1491.7

6.3
896.9
1510.1

6.6
923.9
1601.0

7.4
938.1
1644.9

8.0
964.5
1742.9

17
18
19

20
21

Taxes payable
Miscellaneous liabilities

16.2
683.5

17.8
683.8

19.7
704.4

20.3
748.4

20.9
746.8

21.5
756.0

22.1
740.0

22.8
784.2

23.4
818.9

24.1
824.6

24.9
838.2

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

872.7

862.0

858.1

876.7

879.1

885.4

918.8

937.0

982.7

1007.1

1043.3

1

4.3
28.3

3.7
38.3

13.1
30.2

17.0
28.2

17.2
28.7

25.6
38.1

25.9
44.4

30.2
42.0

36.1
48.8

35.1
51.0

34.0
56.2

2
3

518.2

509.4

518.4

527.6

536.4

541.9

558.3

572.3

584.7

601.9

612.4

4

U.S. government securities
Treasury
Agency

136.2
60.6
75.5

136.2
52.1
84.1

146.3
52.0
94.2

152.9
54.2
98.7

159.5
56.3
103.1

165.2
58.2
107.0

174.4
61.2
113.2

178.2
62.6
115.6

182.0
64.0
118.0

187.3
65.8
121.5

190.8
66.2
124.6

5
6
7

Municipal securities
Corporate and foreign bonds
Commercial mortgages

199.0
181.1
1.9

184.1
187.5
1.6

173.8
196.4
1.9

175.9
196.9
1.9

177.9
197.2
1.9

178.6
196.1
1.9

183.0
198.9
2.0

187.5
204.6
2.0

191.4
209.4
1.9

197.1
215.6
1.9

200.6
219.1
1.9

8
9
10

207.9
63.6
50.6

194.3
64.6
51.8

173.9
69.9
52.6

176.2
73.4
54.3

163.3
77.8
55.7

145.4
77.7
56.8

152.3
74.8
63.1

147.4
79.3
65.8

162.9
81.6
68.5

167.3
82.3
69.6

187.4
82.7
70.6

11
12
13

551.8

562.7

590.1

600.1

610.9

626.7

636.5

649.1

661.6

680.7

694.8

14

17.4
534.4

19.7
543.0

22.4
567.7

23.2
576.9

23.9
587.0

24.8
601.9

25.6
610.9

26.5
622.6

27.4
634.2

28.4
652.3

29.3
665.5

15
16

Corporate equities
Trade receivables
Miscellaneous assets
Total liabilities
Taxes payable
Miscellaneous liabilities

76

Z.1, March 4, 2004

L.119 Private Pension Funds (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1

Total financial assets

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

4540.6

4423.1

4062.6

4147.6

3811.6

3418.6

3532.6

3476.2

3801.5

3889.9

4194.0

1

2
3
4
5

Checkable deposits and currency
Time and savings deposits
Money market fund shares
Security RPs

6.6
144.7
75.1
28.6

7.1
147.6
79.6
29.6

6.1
151.8
69.0
30.4

6.2
151.7
69.7
29.4

6.4
151.4
70.4
30.1

6.4
152.3
71.1
32.6

6.5
152.6
71.8
32.3

6.7
153.5
72.5
32.0

7.0
154.6
73.2
31.7

7.0
155.5
73.9
31.3

6.8
156.3
74.7
31.0

2
3
4
5

6

Credit market instruments

635.2

666.5

673.1

684.9

690.4

700.5

700.5

702.3

708.4

700.5

701.3

6

7
8
9
10

Open market paper
U.S. government securities
Treasury
Agency

37.5
288.2
79.5
208.8

35.8
301.4
76.1
225.2

33.5
302.5
65.7
236.9

36.0
307.0
66.2
240.8

37.4
309.0
67.3
241.7

45.7
310.9
66.1
244.9

44.4
309.4
66.9
242.5

44.2
308.4
66.9
241.5

42.3
309.9
67.8
242.1

42.0
303.1
65.7
237.4

40.4
303.7
66.5
237.2

7
8
9
10

11
12

Corporate and foreign bonds
Mortgages

299.2
10.3

317.9
11.5

324.3
12.8

328.7
13.2

330.4
13.6

329.8
14.1

332.2
14.5

334.9
14.9

340.7
15.5

339.3
16.0

340.7
16.5

11
12

2268.9
753.8

2137.8
733.6

1859.7
651.5

1898.2
682.4

1645.3
600.0

1351.0
500.1

1417.6
533.5

1369.2
520.4

1595.2
596.8

1664.7
617.9

1872.5
695.8

13
14

13
14

Corporate equities
Mutual fund shares

15
16
17
18

Miscellaneous assets
Unallocated insurance contracts (2)
Contributions receivable
Other

627.7
393.5
110.1
124.1

621.3
378.4
111.3
131.6

621.0
369.0
112.6
139.4

625.2
377.4
112.9
134.9

617.7
366.6
113.3
137.9

604.7
354.5
113.6
136.6

617.8
362.8
113.9
141.0

619.5
363.3
114.2
142.0

634.6
379.4
114.6
140.6

639.1
381.8
114.9
142.4

655.4
397.6
115.2
142.6

15
16
17
18

19

Pension fund reserves (liabilities) (3)

4598.1

4484.1

4127.3

4213.4

3878.3

3486.4

3601.3

3546.0

3872.3

3961.7

4266.9

19

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).
(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.
(3) Equal to the value of tangible and financial assets. These liabilities are assets of the household sector.

L.120 State and Local Government Employee Retirement Funds
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

Total financial assets

2226.8

2289.6

2179.6

2208.5

2074.8

1882.9

1963.8

1932.6

2094.9

2138.0

2284.2

1

9.2
1.7
40.4

9.1
1.1
44.7

9.5
0.6
45.3

9.9
1.2
45.4

8.5
1.1
43.3

7.7
1.5
42.6

7.7
0.7
45.5

9.2
1.1
45.9

9.3
1.1
46.5

9.4
1.1
46.9

9.2
1.1
48.4

2
3
4

751.4

806.0

788.4

806.0

792.4

789.8

802.4

802.5

808.1

810.9

815.5

5

Open market paper
U.S. government securities
Treasury
Agency

40.4
376.4
247.4
129.0

44.7
398.5
231.9
166.6

45.3
365.7
213.6
152.1

45.4
372.4
223.2
149.2

43.3
362.9
213.4
149.4

42.6
360.1
210.3
149.8

45.5
364.3
212.5
151.8

45.9
364.5
213.5
151.1

46.5
370.5
218.8
151.7

46.9
368.1
213.3
154.8

43.4
367.0
207.2
159.8

6
7
8
9

Municipal securities
Corporate and foreign bonds
Mortgages

3.0
310.0
21.5

1.6
339.7
21.5

1.4
351.1
24.9

0.4
361.6
26.2

0.5
357.9
27.8

0.5
356.9
29.6

0.5
360.5
31.6

0.6
357.5
33.9

0.5
354.4
36.3

0.6
356.4
39.0

0.6
362.5
41.9

10
11
12

1343.2
81.0

1335.1
93.5

1221.9
113.8

1244.8
101.2

1116.7
112.9

937.2
104.1

1001.6
105.9

970.7
103.1

1130.4
99.5

1171.2
98.5

1318.8
91.2

13
14

2262.3

2331.5

2226.4

2256.3

2123.3

1932.0

2013.4

1982.4

2144.9

2188.0

2334.1

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.

L.121 Federal Government Retirement Funds (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1
2
3
4
5
6
7
8
9

Total financial assets
Credit market instruments
U.S. government securities
Treasury
Agency
Corporate and foreign bonds
Corporate equities
Miscellaneous assets
Pension fund reserves (liabilities) (2)

776.2

799.2

862.0

852.9

857.6

866.0

896.6

885.0

907.1

923.0

959.7

1

33.1
32.3
31.0
1.3
0.8
59.1
684.0

35.1
34.4
33.0
1.4
0.8
59.1
704.9

44.8
43.2
40.2
3.1
1.6
51.4
765.8

46.3
44.7
41.7
3.0
1.6
52.9
753.7

48.1
46.4
43.2
3.2
1.7
46.9
762.6

52.6
50.7
46.8
3.9
2.0
39.6
773.7

57.8
55.0
49.6
5.5
2.8
48.5
790.3

64.9
61.0
53.4
7.7
3.9
52.3
767.8

65.5
61.6
53.9
7.7
3.9
63.0
778.6

65.4
61.8
54.6
7.1
3.6
69.5
788.1

64.4
61.0
54.3
6.7
3.4
80.4
815.0

2
3
4
5
6
7
8

776.2

799.2

862.0

852.9

857.6

866.0

896.6

885.0

907.1

923.0

959.7

9

(1) Includes the Federal Employees Thrift Savings Plan, the National Railroad Retirement Investment Trust, and nonmarketable government securities held by federal government retirement funds.
(2) Liabilities of the sector are assets of the household sector.

77

Z.1, March 4, 2004

L.122 Money Market Mutual Funds (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1

Total financial assets

2
3
4
5

Foreign deposits
Checkable deposits and currency
Time and savings deposits
Security RPs

6

Credit market instruments

7
8
9
10
11
12
13
14

Open market paper
U.S. government securities
Treasury
Agency
Municipal securities
Corporate and foreign bonds
Miscellaneous assets
Total shares outstanding (liabilities)

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

1578.8

1812.1

2240.7

2203.3

2151.2

2114.8

2223.9

2156.2

2120.8

2058.0

2016.0

1

42.9
-2.2
160.4
139.6

91.1
2.2
142.4
183.0

124.2
4.6
219.5
227.0

122.9
0.8
225.5
236.2

118.0
-3.9
231.2
247.1

118.2
-4.1
210.2
245.3

114.1
-1.3
204.6
273.2

101.1
-1.7
193.4
262.1

88.6
-8.1
183.8
258.7

82.4
-6.5
184.4
229.0

74.2
-1.9
156.9
251.4

2
3
4
5

1147.8

1290.9

1536.9

1496.9

1419.6

1411.2

1511.6

1485.5

1480.3

1438.1

1398.5

6

519.0
294.7
103.8
190.9
210.4
123.7

608.6
275.6
90.4
185.2
244.7
161.9

638.9
454.1
135.7
318.4
281.0
163.0

620.8
449.5
137.8
311.7
274.1
152.5

595.6
413.3
123.3
290.0
269.3
141.4

547.1
438.0
119.7
318.2
272.0
154.1

594.0
464.2
140.2
324.1
282.8
170.7

543.6
466.4
147.4
319.0
292.7
182.9

517.7
471.1
144.2
326.9
299.0
192.5

471.7
485.0
134.2
350.9
296.5
184.9

458.9
456.4
130.2
326.2
297.3
185.9

7
8
9
10
11
12

90.4

102.5

128.6

121.0

139.2

134.0

121.6

115.8

117.4

130.6

137.0

13

1578.8

1812.1

2240.7

2203.3

2151.2

2114.8

2223.9

2156.2

2120.8

2058.0

2016.0

14

3591.0

4068.9

4242.7

4664.9

1

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.117).

L.123 Mutual Funds (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

Total financial assets

2

Security RPs

3

Credit market instruments

4
5
6
7
8
9
10
11
12

Open market paper
U.S. government securities
Treasury
Agency
Municipal securities
Corporate and foreign bonds
Corporate equities
Miscellaneous assets
Total shares outstanding (liabilities)

4538.5

4434.6

4135.5

4247.0

3926.6

3452.3

3639.4

80.8

106.4

74.8

85.8

81.2

76.9

84.7

86.0

86.9

83.5

93.5

2

1076.8

1097.8

1223.8

1276.8

1291.6

1334.5

1365.4

1412.1

1478.3

1478.6

1506.3

3

80.8
388.4
117.3
271.1
239.4
368.2

106.4
399.0
123.7
275.3
230.5
361.9

74.8
475.6
115.1
360.5
253.4
420.0

81.6
496.0
120.0
376.0
257.8
441.4

62.8
504.1
122.0
382.1
265.3
459.3

58.4
534.2
129.3
404.9
275.7
466.2

66.1
550.9
133.3
417.6
277.4
470.9

67.3
570.3
141.0
429.3
282.3
492.1

68.5
597.1
150.5
446.6
292.0
520.6

65.2
591.7
147.2
444.5
289.8
532.0

75.3
591.6
147.3
444.3
291.1
548.3

4
5
6
7
8
9

3376.7
4.2

3226.9
3.5

2836.1
0.8

2883.1
1.2

2552.5
1.3

2040.1
0.8

2188.4
1.0

2091.3
1.7

2501.9
1.8

2677.5
3.1

3062.1
3.1

10
11

4538.5

4434.6

4135.5

4247.0

3926.6

3452.3

3639.4

3591.0

4068.9

4242.7

4664.9

12

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.117).

L.124 Closed-End and Exchange-Traded Funds
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
Closed-end funds
1

Total financial assets

2
3
4
5

Credit market instruments
U.S. government securities
Municipal securities
Corporate and foreign bonds

6

Corporate equities

7

Total shares outstanding (liabilities)

152.1

141.9

139.5

143.1

143.8

143.4

150.8

157.5

178.2

194.4

214.9

1

110.8
7.6
69.7
33.5

105.3
6.7
67.7
30.9

108.5
6.7
74.7
27.1

112.2
7.0
76.8
28.3

113.4
4.7
78.9
29.9

112.6
4.7
81.1
26.8

117.1
5.5
86.0
25.5

123.6
4.0
87.1
32.6

138.7
4.7
86.7
47.2

149.3
5.0
88.8
55.4

162.1
5.6
89.7
66.8

2
3
4
5

41.3

36.6

31.1

31.0

30.3

30.8

33.7

33.9

39.6

45.1

52.8

6

152.1

141.9

139.5

143.1

143.8

143.4

150.8

157.5

178.2

194.4

214.9

7

33.9

65.6

83.0

88.2

89.0

82.1

102.0

100.6

121.3

119.5

150.8

8

0.0
0.0
0.0

0.0
0.0
0.0

0.0
0.0
0.0

0.0
0.0
0.0

0.0
0.0
0.0

3.7
2.1
1.6

3.7
2.0
1.8

3.4
1.5
1.9

3.5
1.3
2.3

3.9
1.8
2.2

4.5
2.1
2.4

9
10
11

33.9

65.6

83.0

88.2

89.0

78.3

98.2

97.2

117.7

115.5

146.3

12

33.9

65.6

83.0

88.2

89.0

82.1

102.0

100.6

121.3

119.5

150.8

13

Exchange-traded funds
8

Total financial assets

9
10
11

Credit market instruments
U.S. government securities
Corporate and foreign bonds

12

Corporate equities

13

Total shares outstanding (liabilities)

78

Z.1, March 4, 2004

L.125 Government-Sponsored Enterprises (GSEs) (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1

Total financial assets

2
3

Checkable deposits and currency
Federal funds and security RPs

4

Credit market instruments

5
6
7
8

Open market paper
U.S. government securities
Treasury
Agency

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

1720.6

1969.4

2300.8

2348.3

2384.0

2454.8

2543.3

2597.6

2658.2

2800.4

2819.4

1

11.8
89.7

2.1
74.9

3.9
85.9

3.7
91.0

5.3
71.4

10.3
82.7

14.0
84.9

18.2
73.2

14.6
86.4

14.7
70.3

14.5
78.2

2
3

1543.2

1803.9

2110.0

2159.3

2195.3

2248.0

2324.2

2387.0

2419.0

2579.0

2586.3

4

33.8
699.2
30.9
668.3

44.7
854.4
41.2
813.3

80.3
1030.5
31.8
998.7

49.2
1110.0
32.7
1077.3

59.4
1101.0
16.5
1084.5

52.8
1125.8
15.7
1110.1

52.2
1188.7
7.2
1181.5

51.1
1206.2
8.0
1198.1

55.2
1195.1
7.9
1187.2

46.5
1338.0
7.8
1330.2

49.4
1330.0
7.9
1322.0

5
6
7
8

10.6
91.5

8.8
117.2

14.8
132.7

11.4
139.2

10.0
154.5

12.9
149.3

13.1
139.7

13.4
150.2

14.5
158.2

15.8
156.9

15.9
157.3

9
10

9
10

Municipal securities
Corporate and foreign bonds

11
12
13
14

Other loans and advances
Sallie Mae
Farm Credit System
FHLB

432.3
0.8
35.8
395.7

477.6
0.8
38.9
437.9

515.3
0.8
41.8
472.7

504.8
0.8
42.0
462.0

514.1
0.5
43.2
470.4

534.4
0.5
43.1
490.7

533.8
0.4
43.8
489.6

549.8
0.4
43.1
506.3

549.4
0.3
42.8
506.3

548.8
0.5
42.5
505.9

558.0
0.5
43.3
514.2

11
12
13
14

15
16
17
18
19

Mortgages
Home
Multifamily residential
Farm
Consumer credit (2)

242.0
189.3
20.5
32.2
33.8

264.2
205.1
25.0
34.2
37.0

296.9
225.3
33.2
38.5
39.4

304.7
230.2
35.0
39.5
40.0

315.8
238.8
36.5
40.4
40.7

332.0
251.2
38.6
42.1
40.9

359.9
274.6
41.7
43.5
36.8

381.1
294.0
42.9
44.2
35.2

415.3
324.9
44.8
45.6
31.3

445.7
355.2
44.6
46.0
27.2

446.1
355.6
43.6
46.9
29.7

15
16
17
18
19

75.8

88.4

101.1

94.3

112.0

113.8

120.2

119.1

138.2

136.3

140.3

20

1681.1

1922.5

2247.1

2292.6

2324.8

2390.1

2475.6

2527.5

2586.0

2725.0

2741.2

21

1591.7
1591.7
0.0

1825.8
1825.8
0.0

2114.0
2114.0
0.0

2161.8
2161.8
0.0

2197.2
2197.2
0.0

2259.5
2259.5
0.0

2339.9
2339.9
0.0

2388.7
2388.7
0.0

2438.7
2438.7
0.0

2548.1
2548.1
0.0

2582.7
2582.7
0.0

22
23
24

89.3

96.7

133.1

130.8

127.5

130.6

135.7

138.8

147.3

177.0

158.5

25

20
21

Miscellaneous assets
Total liabilities

22
23
24

Credit market instruments
GSE issues (3)
U.S. government loans

25

Miscellaneous liabilities

(1) Federal Home Loan Banks, 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 SLM Corporation, a private company chartered in 1997.
(2) SLMA student loans.
(3) Such issues are classified as U.S. government securities.

L.126 Federally Related Mortgage Pools (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

2292.2

2491.6

2830.1

2955.1

3041.6

3084.5

3158.2

3226.3

3288.8

3370.4

3488.4

1

2
3
4
5

Total financial assets
Home mortgages
Multifamily residential mortgages
Commercial mortgages
Farm mortgages

2234.7
57.5
0.0
0.0

2425.6
66.0
0.0
0.0

2748.5
81.6
0.0
0.0

2870.6
84.5
0.0
0.0

2955.0
86.6
0.0
0.0

2996.0
88.5
0.0
0.0

3063.7
94.5
0.0
0.0

3129.7
96.6
0.0
0.0

3189.9
98.9
0.0
0.0

3265.5
104.9
0.0
0.0

3380.1
108.3
0.0
0.0

2
3
4
5

6

Total pool securities (liabilities)(2)

2292.2

2491.6

2830.1

2955.1

3041.6

3084.5

3158.2

3226.3

3288.8

3370.4

3488.4

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, March 4, 2004

L.127 Issuers of Asset-Backed Securities (ABSs)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

1678.3

1880.8

2174.0

2226.8

2282.5

2332.6

2431.5

2504.8

2582.3

2639.6

2712.4

1

2
3

Agency securities (1)
Other loans and advances

306.0
82.6

310.4
94.7

348.2
109.8

363.2
112.4

373.2
107.8

393.1
103.8

417.0
105.0

433.0
112.5

450.1
108.4

495.0
102.7

487.4
104.0

2
3

4
5
6
7

Mortgages (2)
Home
Multifamily residential
Commercial

654.3
455.0
42.0
157.3

734.4
499.8
47.5
187.1

870.5
591.2
53.5
225.7

899.4
616.3
53.9
229.2

929.9
638.3
55.2
236.3

967.9
669.3
56.6
242.0

1002.8
691.6
59.0
252.1

1040.9
725.1
59.6
256.2

1099.9
768.7
61.7
269.5

1126.6
785.1
63.4
278.2

1203.4
842.8
67.1
293.5

4
5
6
7

8
9

Consumer credit
Trade receivables

448.4
187.0

521.3
220.0

599.7
245.9

599.5
252.3

613.5
258.1

603.8
264.0

637.1
269.7

643.1
275.2

643.3
280.5

629.5
285.7

626.8
290.8

8
9

1688.0

1887.3

2180.8

2233.3

2288.7

2338.6

2437.3

2511.0

2588.2

2645.3

2717.9

10

520.8
1167.2

645.8
1241.5

765.8
1415.0

756.4
1476.9

739.5
1549.2

738.2
1600.4

752.8
1684.4

728.3
1782.7

719.8
1868.5

731.0
1914.3

717.3
2000.6

11
12

9.7
12.9

6.6
10.7

6.8
9.5

6.5
9.1

6.2
10.8

6.0
12.9

5.7
15.6

6.2
16.5

6.0
19.7

5.7
25.6

5.5
28.8

13
14

10
11
12

13
14

Total financial assets

2000

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.130.

L.128 Finance Companies (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

Total financial assets

1003.6

1140.5

1159.9

1128.6

1146.2

1174.8

1195.8

1195.1

1253.4

1346.8

1380.6

1

25.3

27.9

30.8

31.5

32.3

33.0

33.8

34.6

35.4

36.2

37.1

2

2

Checkable deposits and currency

3
4
5
6

Credit market instruments
Other loans and advances
Mortgages
Consumer credit

742.6
395.1
145.8
201.6

851.2
458.4
172.3
220.5

846.4
447.0
161.3
238.1

834.4
443.0
157.2
234.3

848.2
449.4
160.5
238.3

860.8
445.5
165.5
249.7

867.6
455.3
174.5
237.8

861.1
453.9
173.9
233.2

883.5
455.8
183.4
244.3

924.2
445.6
194.7
284.0

943.3
445.4
207.4
290.6

3
4
5
6

7

Miscellaneous assets

235.7

261.4

282.7

262.7

265.7

281.0

294.4

299.4

334.5

386.3

400.2

7

995.3

1161.7

1183.5

1160.4

1188.8

1228.5

1249.6

1249.7

1331.2

1424.2

1465.5

8

696.1
230.4
430.3
35.4

778.1
238.8
503.4
35.9

779.6
158.6
570.2
50.8

764.3
137.0
578.0
49.4

789.5
130.8
601.8
56.9

808.9
143.1
590.9
74.9

822.8
141.5
633.2
48.0

822.0
127.3
647.4
47.3

873.9
145.3
675.5
53.2

900.7
132.9
710.2
57.6

932.3
137.2
738.9
56.2

9
10
11
12

8.1

9.1

10.2

10.6

10.9

11.2

11.6

12.0

12.4

12.8

13.2

13

291.1
48.6
87.8
154.6

374.5
63.2
102.6
208.7

393.6
68.5
99.3
225.8

385.5
69.8
82.6
233.0

388.4
68.6
83.4
236.4

408.4
63.9
83.0
261.4

415.3
58.8
88.4
268.1

415.7
74.1
87.5
254.1

444.9
75.3
96.5
273.1

510.7
76.3
96.4
338.1

520.0
79.5
101.1
339.4

14
15
16
17

102.9

108.2

103.5

97.6

96.4

88.5

83.3

81.8

76.7

75.4

68.9

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.127.

80

Z.1, March 4, 2004

L.129 Mortgage Companies (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

2000

2001

2002
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

2003
Q3

Q4

Q1

Q2

Q3

Q4

32.1

32.1

32.1

32.1

32.1

32.1

32.1

32.1

32.1

32.1

32.1

1

21.8
5.2
5.1

21.8
5.2
5.1

21.8
5.2
5.1

21.8
5.2
5.1

21.8
5.2
5.1

21.8
5.2
5.1

21.8
5.2
5.1

21.8
5.2
5.1

21.8
5.2
5.1

21.8
5.2
5.1

21.8
5.2
5.1

2
3
4

32.1

32.1

32.1

32.1

32.1

32.1

32.1

32.1

32.1

32.1

32.1

5

16.0
16.0

16.0
16.0

16.0
16.0

16.0
16.0

16.0
16.0

16.0
16.0

16.0
16.0

16.0
16.0

16.0
16.0

16.0
16.0

16.0
16.0

6
7

77.5

85.1

92.4

92.8

92.8

101.0

108.0

114.9

1

(1) No data are available after 1997:Q4.

L.130 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

68.4

62.1

70.2

4.4

4.3

5.2

5.6

5.8

5.7

4.6

5.8

5.7

7.2

6.2

2

42.9

35.8

42.5

49.1

57.0

63.9

65.6

63.5

71.2

75.9

79.9

3

4
5

Agency securities
Corporate and foreign bonds

14.2
5.7

14.5
4.9

20.2
7.0

25.9
7.4

29.2
8.6

31.2
10.2

28.3
11.7

24.5
12.5

26.3
11.4

22.4
13.4

23.2
12.9

4
5

6
7
8
9

Mortgages
Home
Multifamily residential
Commercial

23.0
12.4
1.6
9.0

16.3
7.9
1.2
7.3

15.2
7.9
0.9
6.4

15.8
8.7
0.9
6.2

19.2
10.7
1.0
7.5

22.6
14.1
1.0
7.5

25.7
17.4
0.8
7.5

26.5
18.4
0.8
7.3

33.5
25.3
0.8
7.5

40.1
31.6
0.7
7.8

43.8
35.2
0.7
7.9

6
7
8
9

21.1

22.0

22.5

22.8

22.2

22.8

22.6

23.5

24.1

25.0

28.8

10

216.8

217.5

227.8

236.0

246.0

259.0

262.4

263.6

271.8

278.6

289.1

11

10

Miscellaneous assets

11

Total liabilities

12

Security RPs

13
14
15
16
17

Credit market instruments
Open market paper
Corporate bonds
Bank loans n.e.c.
Mortgages

18

Miscellaneous liabilities

19
20
21
22
23

Memo:
Securitized assets included above
Agency securities
Home mortgages
Multifamily residential mortgages
Commercial mortgages

15.7

11.9

19.7

25.4

29.3

34.1

33.2

30.4

35.0

33.4

35.5

12

165.1
0.1
62.2
26.0
76.7

167.8
0.2
67.0
17.7
82.9

170.2
0.8
70.8
14.4
84.2

172.1
1.1
71.1
14.0
85.9

178.4
1.6
75.6
13.7
87.6

185.3
1.4
81.3
13.7
88.9

190.0
0.9
84.9
14.1
90.1

194.4
1.3
89.3
14.5
89.2

197.6
0.4
93.6
13.5
90.1

206.7
0.7
100.4
13.7
92.0

213.4
0.7
106.1
12.2
94.4

13
14
15
16
17

36.0

37.8

37.9

38.6

38.3

39.6

39.2

38.8

39.3

38.4

40.3

18

12.9
3.7
7.6
0.9
0.7

10.7
3.5
6.7
0.4
0.1

9.5
2.6
6.5
0.3
0.1

9.1
2.2
6.5
0.3
0.1

10.8
2.0
8.4
0.3
0.1

12.9
1.7
10.8
0.3
0.1

15.6
1.3
13.8
0.3
0.1

16.5
1.0
15.1
0.3
0.1

19.7
0.7
18.6
0.3
0.1

25.6
0.4
24.8
0.3
0.1

28.8
0.3
28.1
0.3
0.1

19
20
21
22
23

81

Z.1, March 4, 2004

L.131 Security Brokers and Dealers
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

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

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

1001.0

1221.4

1465.6

1441.4

1465.2

1419.7

1335.4

1385.5

1512.1

1560.6

1602.2

1

28.7

30.3

47.1

43.1

45.7

40.5

44.2

44.2

43.6

43.9

46.9

2

154.7

223.6

316.0

299.6

352.6

335.2

344.4

390.9

341.1

375.0

421.5

3

26.0
23.3
-42.6
66.0
11.9
93.4

39.2
60.4
-3.3
63.7
11.3
112.7

48.2
87.6
9.8
77.8
19.0
161.3

47.6
70.2
-1.7
71.8
13.6
168.2

50.8
99.9
9.9
90.0
17.4
184.5

44.3
88.9
0.0
88.8
20.3
181.8

43.5
87.9
-3.9
91.8
21.0
192.0

46.7
145.6
17.5
128.1
19.2
179.4

41.9
76.2
-63.2
139.4
22.1
201.0

46.1
94.0
8.2
85.8
24.1
210.8

47.6
121.5
37.8
83.7
24.9
227.5

4
5
6
7
8
9

66.9
227.9
522.8

77.2
235.1
655.1

85.1
196.4
821.0

86.2
192.0
820.5

83.7
170.6
812.6

69.4
149.6
825.0

74.9
148.2
723.7

67.7
159.5
723.2

87.6
248.5
791.3

86.8
227.6
827.3

97.7
180.8
855.3

10
11
12

935.8

1151.4

1382.2

1355.6

1375.4

1330.2

1250.6

1298.7

1423.7

1468.2

1515.8

13

14
15

Security RPs (net)
Corporate bonds

245.2
25.3

302.2
40.9

353.2
42.3

390.4
38.4

438.3
42.8

383.7
46.6

344.2
40.6

335.2
50.2

358.0
46.2

411.4
48.6

480.7
47.0

14
15

16
17
18
19
20

Trade payables
Security credit
Customer credit balances (HH)
From banks
Taxes payable

30.9
448.7
323.9
124.8
2.2

35.9
587.6
412.4
175.2
2.1

39.2
629.5
454.3
175.2
1.9

36.3
586.0
427.5
158.5
1.9

30.6
575.1
400.5
174.6
1.6

31.8
576.6
401.3
175.3
1.6

37.4
590.6
412.7
177.9
1.3

28.5
637.1
429.6
207.4
1.6

35.3
723.4
515.1
208.3
1.9

32.5
712.6
503.4
209.1
2.0

28.1
679.7
466.2
213.5
1.7

16
17
18
19
20

21
22
23
24

Miscellaneous liabilities
Foreign direct investment in U.S.
Due to affiliates
Other

183.6
13.9
415.5
-245.8

182.7
20.1
475.7
-313.1

316.1
13.6
538.6
-236.1

302.4
13.4
555.2
-266.2

287.0
9.5
546.2
-268.6

289.9
8.4
541.6
-260.1

236.4
13.3
545.3
-322.2

246.1
13.3
597.0
-364.3

258.9
16.7
604.7
-362.5

261.0
17.3
601.8
-358.0

278.5
20.7
602.3
-344.5

21
22
23
24

L.132 Funding Corporations (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

Total financial assets

999.7

1140.8

1205.0

1181.5

1187.0

1186.9

1192.6

1233.2

1240.1

1272.1

1274.4

1

2

Money market fund shares

300.5

321.1

468.4

450.4

453.2

428.2

472.0

439.5

464.3

460.2

429.9

2

3
4
5

Credit market instruments
Open market paper
Corporate and foreign bonds

276.0
242.3
33.8

321.1
287.2
33.9

236.5
161.8
74.8

230.6
144.3
86.3

216.1
118.1
98.0

239.0
148.7
90.3

193.5
104.0
89.4

227.9
127.2
100.7

220.8
108.7
112.1

273.7
150.6
123.1

299.7
162.4
137.3

3
4
5

6
7
8

Miscellaneous assets (2)
Investment in foreign banking offices
Investment in brokers and dealers

423.1
93.0
330.1

498.6
138.7
359.9

500.0
107.9
392.2

500.5
103.2
397.3

517.7
124.3
393.4

519.7
121.5
398.2

527.1
132.6
394.5

565.9
128.3
437.6

555.0
124.8
430.2

538.2
118.3
419.9

544.8
130.8
413.9

6
7
8

999.7

1140.8

1205.0

1181.5

1187.0

1186.9

1192.6

1233.2

1240.1

1272.1

1274.4

9

10
11
12

9

Total liabilities
Credit market instruments
Open market paper
Corporate bonds

504.0
268.5
235.5

503.7
266.2
237.5

448.4
188.8
259.7

442.6
160.5
282.1

432.8
152.2
280.7

421.5
140.8
280.7

447.9
157.7
290.1

462.7
170.2
292.6

426.8
126.9
299.9

416.5
115.9
300.7

445.8
140.2
305.5

10
11
12

13
14
15
16

Miscellaneous liabilities
Foreign direct investment in U.S.
Securities loaned (net)
Other

495.6
-80.9
419.5
157.0

637.1
-5.1
508.2
134.0

756.5
51.6
578.3
126.7

738.9
57.9
583.9
97.1

754.2
84.8
597.1
72.3

765.4
98.2
600.2
67.0

744.7
79.2
575.4
90.1

770.5
103.1
567.7
99.6

813.4
128.2
628.9
56.2

855.6
121.7
672.7
61.2

828.6
99.0
675.0
54.6

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, March 4, 2004

L.200 Gold and Official Foreign Exchange Holdings (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

2000

2001

2002
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

2003
Q3

Q4

Q1

Q2

Q3

Q4

71.5

67.6

68.7

67.6

69.6

75.9

79.0

80.0

81.7

84.4

85.9

1

21.4

21.6

21.8

21.9

22.3

22.8

23.2

22.4

22.8

23.1

23.7

2

10.3
11.0

10.5
11.0

10.8
11.0

10.8
11.0

11.3
11.0

11.7
11.0

12.2
11.0

11.4
11.0

11.7
11.0

12.1
11.0

12.6
11.0

3
4

50.1

46.1

46.8

45.7

47.2

53.1

55.8

57.6

58.9

61.3

62.3

5

Official foreign currency holdings
Treasury
Monetary authority

32.2
16.0
16.1

31.2
15.6
15.7

29.0
14.4
14.6

28.6
14.3
14.4

30.7
14.6
16.2

32.3
16.1
16.1

33.8
16.9
16.9

34.8
17.4
17.4

35.7
17.8
17.8

37.3
18.6
18.6

39.7
19.9
19.9

6
7
8

Net IMF position
Federal government
Monetary authority

18.0
18.0
-0.1

14.8
14.9
-0.1

17.9
17.9
-0.1

17.1
17.2
-0.1

16.5
16.6
-0.1

20.9
21.0
-0.1

22.0
22.1
-0.1

22.9
23.0
-0.1

23.2
23.3
-0.1

24.1
24.2
-0.1

22.5
22.6
-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

6.2
6.2

2.2
2.2

2.2
2.2

2.2
2.2

2.2
2.2

2.2
2.2

2.2
2.2

2.2
2.2

2.2
2.2

2.2
2.2

2.2
2.2

1
2

Treasury currency:
3
4

Liab: Federal government
Asset: Monetary authority

20.9
28.0

23.2
31.6

24.5
33.0

24.7
33.6

24.8
34.0

25.5
34.3

25.5
34.6

25.6
34.8

26.0
35.1

26.0
35.3

26.0
35.5

3
4

5

Discrepancy (seigniorage)

-7.1

-8.5

-8.6

-8.9

-9.1

-8.9

-9.1

-9.2

-9.1

-9.3

-9.5

5

L.202 U.S. Deposits in Foreign Countries
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

2
3
4
5

Total rest of the world liability
Held by:
Household sector
Nonfinancial corporate business
Money market mutual funds
Discrepancy--unallocated assets

686.1

820.3

851.0

840.1

856.6

869.8

874.9

870.7

910.6

850.1

846.7

1

43.5
31.5
42.9

58.5
24.0
91.1

53.5
15.6
124.2

54.0
27.2
122.9

54.5
23.2
118.0

61.0
23.9
118.2

64.2
20.6
114.1

70.7
25.9
101.1

64.8
30.4
88.6

60.3
31.4
82.4

67.7
31.7
74.2

2
3
4

568.2

646.6

657.7

636.0

660.8

666.7

676.0

673.0

726.7

676.0

673.2

5

83

Z.1, March 4, 2004

L.203 Net Interbank Transactions
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

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

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

202.4

221.2

191.4

162.4

131.4

150.7

205.9

175.5

123.8

163.7

207.4

1

90.6
24.0
66.6

63.4
19.0
44.4

64.8
17.5
47.3

57.3
22.4
34.9

58.9
22.3
36.5

61.0
23.2
37.9

70.4
22.5
47.8

65.3
26.8
38.5

67.3
27.7
39.5

69.5
29.1
40.4

71.0
23.1
47.9

2
3
4

111.8
-0.0

157.8
1.0

126.6
0.0

105.1
-0.5

72.6
-0.1

89.7
0.6

135.5
0.5

110.2
-1.2

56.5
0.2

94.2
-0.3

136.4
-0.3

5
6

140.3

161.1

115.5

83.6

55.1

72.6

119.7

92.1

49.5

76.4

124.7

7

8
9
10
11

Liabilities, net
U.S.-chartered commercial banks
Due to foreign affiliates
- Due from foreign affiliates

149.8
133.5
226.7
93.2

171.6
179.3
302.0
122.7

127.3
167.0
324.8
157.8

100.0
135.7
284.7
149.0

78.3
156.3
295.8
139.5

97.2
142.4
280.7
138.3

141.1
213.1
323.9
110.8

110.2
212.1
342.5
130.4

64.9
209.5
407.4
197.9

99.4
254.2
423.2
169.1

143.2
306.7
447.4
140.7

8
9
10
11

12
13
14

Foreign banking offices in U.S.
Due to foreign affiliates
- Due from foreign affiliates

41.7
147.9
106.2

-14.8
133.6
148.4

-50.2
163.3
213.5

-58.3
155.7
214.1

-97.6
153.9
251.5

-69.4
164.9
234.2

-83.0
176.2
259.3

-103.7
202.3
306.0

-111.6
248.9
360.5

-121.8
224.7
346.5

-129.8
195.8
325.6

12
13
14

15
16
17

Bank holding companies
Due to foreign affiliates
- Due from foreign affiliates

-25.4
8.3
33.8

7.1
39.3
32.2

10.4
51.4
41.0

22.6
64.2
41.6

19.5
59.4
39.8

24.2
59.8
35.6

11.1
53.4
42.4

1.8
44.0
42.2

-32.9
13.2
46.2

-33.0
12.3
45.3

-33.8
13.2
47.0

15
16
17

9.5
9.4
0.2

10.5
9.8
0.7

11.8
11.1
0.7

16.4
16.0
0.4

23.2
22.8
0.4

24.6
24.5
0.1

21.4
21.3
0.1

18.1
18.0
0.1

15.4
15.2
0.2

23.0
22.6
0.4

18.5
18.3
0.1

18
19
20

-28.5

-4.3

11.1

21.9

17.5

16.5

15.3

19.3

6.8

18.1

12.0

21

-67.3
44.4
72.2
0.6
-28.5

-33.0
59.4
63.1
0.6
-4.3

-17.8
59.6
47.9
0.7
11.1

0.1
78.3
55.3
1.1
21.9

-3.9
69.0
50.1
1.4
17.5

-1.5
75.3
57.2
1.5
16.5

0.2
75.8
58.8
1.7
15.3

-15.2
78.6
58.0
1.2
19.3

-61.5
79.8
71.4
1.6
6.8

-57.8
86.9
67.5
1.3
18.1

-65.2
73.6
60.0
1.6
12.0

22
23
24
25
26

78.9
32.8

86.0
6.4

89.5
-12.1

100.9
-22.7

91.9
-19.0

99.2
-22.4

90.3
-14.7

100.8
-7.1

104.4
36.9

105.1
39.6

97.9
41.0

27
28

18
19
20
21
22
23
24
25
26

27
28

Less: Deposits at foreign banks
U.S. chartered commercial banks
Foreign banking offices in U.S.
To U.S. banking, net
U.S.-chartered commercial banks
Liabilities
To foreign offices in U.S.
To bank holding companies
Unallocated
Less, due from:
Foreign offices in U.S.
Bank holding companies

29
30
31

Foreign banking offices in U.S.
Due to U.S. banks
- Due from U.S. banks

6.7
78.9
72.2

22.9
86.0
63.1

41.6
89.5
47.9

45.6
100.9
55.3

41.8
91.9
50.1

41.9
99.2
57.2

31.5
90.3
58.8

42.7
100.8
58.0

33.0
104.4
71.4

37.6
105.1
67.5

37.8
97.9
60.0

29
30
31

32
33
34

Bank holding companies
Due to U.S. banks
- Due from U.S. banks

32.1
32.8
0.6

5.8
6.4
0.6

-12.8
-12.1
0.7

-23.8
-22.7
1.1

-20.4
-19.0
1.4

-23.9
-22.4
1.5

-16.4
-14.7
1.7

-8.2
-7.1
1.2

35.3
36.9
1.6

38.3
39.6
1.3

39.4
41.0
1.6

32
33
34

230.8

225.5

180.3

140.5

113.9

134.2

190.5

156.2

117.0

145.6

195.5

35

140.3

161.1

115.5

83.6

55.1

72.6

119.7

92.1

49.5

76.4

124.7

36

90.6

64.4

64.8

56.9

58.8

61.6

70.8

64.1

67.5

69.2

70.7

37

35

Total assets

36

Rest of the world

37

Domestic

38
39
40

Monetary authority
Federal Reserve float
Loans to member banks

-0.0
-0.2
0.2

1.0
0.9
0.1

0.0
-0.0
0.0

-0.5
-0.5
0.0

-0.1
-0.2
0.2

0.6
0.4
0.2

0.5
0.4
0.0

-1.2
-1.2
0.0

0.2
-0.5
0.8

-0.3
-0.5
0.2

-0.3
-0.3
0.1

38
39
40

41
42
43

Commercial banking
Reserves at Federal Reserve
Vault cash

85.9
19.3
66.6

61.8
17.4
44.4

62.5
15.2
47.3

55.1
20.2
34.9

55.6
19.1
36.5

58.3
20.5
37.9

67.4
19.5
47.8

62.5
24.0
38.5

64.5
25.0
39.5

66.1
25.7
40.4

67.1
19.1
47.9

41
42
43

44
45

Savings insts.: Reserves at Fed. Res.
Discrepancy--floats, etc.

4.7

1.7

2.3

2.2

3.2

2.7

3.0

2.8

2.7

3.4

3.9

44

-28.5

-4.3

11.1

21.9

17.5

16.5

15.3

19.3

6.8

18.1

12.0

45

84

Z.1, March 4, 2004

L.204 Checkable Deposits and Currency
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

1484.5

1413.1

1603.2

1518.1

1571.9

1610.7

1646.7

1680.4

1703.1

1670.6

1681.0

1

2
3
4
5

Monetary authority
Federal government cash and deposits
Deposits due to foreign
Currency outside banks

590.4
28.5
0.1
561.8

555.2
5.6
0.3
549.3

603.1
7.1
0.1
596.0

613.3
6.1
0.3
607.0

630.0
8.5
0.1
621.4

630.7
8.3
0.2
622.2

644.6
4.8
0.1
639.7

654.7
7.1
0.3
647.3

662.1
7.3
1.0
653.8

665.5
7.6
0.1
657.8

682.5
6.0
0.2
676.3

2
3
4
5

6
7
8
9

Commercial banking
Federal government deposits
Deposits due to foreign
Private domestic deposits

626.4
49.6
43.6
533.2

540.9
16.4
33.9
490.6

628.8
47.5
34.5
546.9

523.0
9.5
37.2
476.4

536.5
37.1
35.5
463.9

563.2
54.6
32.8
475.8

571.4
31.1
36.1
504.3

575.6
43.6
39.0
493.0

575.2
17.4
51.3
506.5

526.5
-6.8
41.8
491.5

502.8
-69.5
46.3
526.0

6
7
8
9

Savings institutions
Credit unions

222.3
45.4

265.8
51.3

316.5
54.7

328.4
53.4

344.3
61.1

356.6
60.2

370.9
59.7

384.2
65.9

399.5
66.4

413.9
64.8

428.3
67.4

10
11

10
11
12

Total liabilities

2000

1484.5

1413.1

1603.2

1518.1

1571.9

1610.7

1646.7

1680.4

1703.1

1670.6

1681.0

12

13

Total assets
Household sector

346.0

225.6

315.3

317.9

266.7

237.3

279.1

259.1

256.8

201.8

214.7

13

14
15
16
17

Nonfinancial business
Corporate
Nonfarm noncorporate
Farm

567.8
331.0
217.6
19.2

674.9
381.4
274.1
19.4

630.0
335.4
274.5
20.1

585.9
287.1
278.6
20.2

640.5
337.7
282.6
20.3

678.1
372.2
285.5
20.4

671.4
363.6
287.3
20.5

670.9
360.9
289.6
20.5

702.6
389.1
293.0
20.5

765.8
449.1
296.2
20.5

798.5
479.8
298.2
20.6

14
15
16
17

18
19

State and local governments
Federal government

32.2
87.9

33.2
24.3

38.2
66.9

37.1
25.2

41.1
54.9

41.5
77.7

46.7
47.5

43.1
23.3

45.0
41.8

44.9
53.3

53.0
54.1

18
19

20
21
22

Rest of the world
Checkable deposits
Currency

298.3
43.7
254.6

294.1
34.2
259.9

318.3
34.6
283.7

325.7
37.5
288.2

331.0
35.6
295.4

331.0
33.0
298.0

341.5
36.3
305.2

349.5
39.3
310.1

363.8
52.3
311.6

356.3
41.9
314.4

368.4
46.5
321.8

20
21
22

23

Financial sectors

139.8

139.3

218.3

209.6

215.4

234.2

236.3

272.9

270.1

265.9

264.0

23

2.2
17.4
26.4
0.3

1.7
19.0
26.7
0.2

2.8
21.0
36.8
0.7

1.7
21.1
33.5
0.5

2.7
20.1
40.4
0.3

2.7
22.1
40.4
0.2

2.5
24.7
38.4
0.0

3.0
23.9
54.8
0.1

3.0
27.4
52.4
0.2

2.4
25.9
45.6
0.3

2.5
24.3
41.5
0.4

24
25
26
27

5.5
4.3
6.6
9.2

5.0
3.7
7.1
9.1

36.8
13.1
6.1
9.5

35.1
17.0
6.2
9.9

34.6
17.2
6.4
8.5

43.7
25.6
6.4
7.7

35.3
25.9
6.5
7.7

43.8
30.2
6.7
9.2

43.4
36.1
7.0
9.3

44.8
35.1
7.0
9.4

42.5
34.0
6.8
9.2

28
29
30
31

-2.2
11.8
25.3
4.4
28.7

2.2
2.1
27.9
4.3
30.3

4.6
3.9
30.8
5.2
47.1

0.8
3.7
31.5
5.6
43.1

-3.9
5.3
32.3
5.8
45.7

-4.1
10.3
33.0
5.7
40.5

-1.3
14.0
33.8
4.6
44.2

-1.7
18.2
34.6
5.8
44.2

-8.1
14.6
35.4
5.7
43.6

-6.5
14.7
36.2
7.2
43.9

-1.9
14.5
37.1
6.2
46.9

32
33
34
35
36

12.5

21.7

16.2

16.7

22.1

11.0

24.2

61.6

23.0

-17.4

-71.7

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, March 4, 2004

L.205 Time and Savings Deposits
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1
2

Total liabilities
Small time and savings deposits

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

3608.0

3912.9

4248.8

4415.6

4445.2

4536.7

4570.2

4711.6

4797.8

4823.3

4861.8

1

2671.6

2860.4

3127.6

3236.7

3256.4

3336.8

3398.7

3502.5

3575.2

3601.2

3628.3

2

2017.1
1997.4
7.5
12.2

2228.7
2208.0
7.2
13.6

2478.1
2448.3
11.6
18.1

2560.6
2533.4
8.5
18.7

2598.0
2568.8
9.7
19.5

2684.0
2656.3
8.3
19.5

2747.8
2722.0
9.4
16.4

2833.5
2808.5
8.7
16.3

2913.7
2888.4
8.9
16.3

2935.5
2908.8
9.7
17.0

2978.3
2950.2
10.3
17.8

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

354.7
299.8

318.9
312.7

288.2
361.3

289.8
386.3

274.9
383.5

264.4
388.3

256.5
394.4

251.8
417.1

238.0
423.6

240.9
424.9

226.0
424.0

7
8

9

Large time deposits (1)

936.4

1052.6

1121.1

1178.9

1188.7

1199.9

1171.5

1209.1

1222.5

1222.1

1233.5

9

10
11
12
13

Commercial banking
U.S.-chartered commercial banks
Foreign banking offices in U.S.
Banks in U.S.-affiliated areas

792.6
465.7
314.8
12.2

885.4
553.6
318.2
13.6

918.1
528.4
371.5
18.1

960.7
524.2
417.7
18.7

966.7
528.1
419.1
19.5

956.7
551.8
385.4
19.5

915.6
552.7
346.4
16.4

940.5
569.1
355.2
16.3

934.8
572.5
346.0
16.3

933.6
569.7
346.9
17.0

934.5
555.7
361.0
17.8

10
11
12
13

14
15

Savings institutions
Credit unions

122.2
21.6

142.1
25.1

168.9
34.1

183.2
35.0

183.9
38.2

202.7
40.4

213.1
42.8

224.5
44.1

237.6
50.1

238.3
50.3

245.5
53.6

14
15

3608.0

3912.9

4248.8

4415.6

4445.2

4536.7

4570.2

4711.6

4797.8

4823.3

4861.8

16

2811.1

3099.7

3350.3

3486.8

3537.3

3647.4

3644.0

3774.2

3853.1

3936.8

3984.9

17

16

Total assets

17

Household sector

18
19
20

Nonfinancial business
Corporate
Nonfarm noncorporate

254.4
136.9
117.5

274.9
137.3
137.6

276.7
132.0
144.7

274.7
128.0
146.7

259.1
111.4
147.6

242.2
95.0
147.2

270.9
124.0
146.9

277.9
132.1
145.8

284.8
138.0
146.8

273.4
126.4
147.0

266.1
117.5
148.6

18
19
20

21
22
23

State and local governments
Federal government
Rest of the world

102.1
5.4
101.6

111.5
6.3
103.5

119.2
10.5
83.3

133.0
15.2
88.3

125.6
9.9
92.8

131.9
18.4
92.7

136.3
27.6
95.3

145.7
18.4
102.8

146.3
27.8
100.6

150.4
9.1
65.2

158.5
2.4
86.8

21
22
23

24

Financial sectors

333.5

317.0

408.7

417.7

420.5

404.0

396.2

392.6

385.2

388.4

363.1

24

1.3
16.6
8.7

1.4
15.5
8.9

2.2
23.0
11.7

2.8
24.9
11.5

2.7
22.7
11.4

3.6
25.4
11.2

2.6
24.5
11.1

2.6
28.7
13.3

2.7
27.6
15.4

2.7
27.3
17.6

2.6
26.4
19.8

25
26
27

144.7
1.7
160.4

147.6
1.1
142.4

151.8
0.6
219.5

151.7
1.2
225.5

151.4
1.1
231.2

152.3
1.5
210.2

152.6
0.7
204.6

153.5
1.1
193.4

154.6
1.1
183.8

155.5
1.1
184.4

156.3
1.1
156.9

28
29
30

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

1578.8

1812.1

2240.7

2203.3

2151.2

2114.8

2223.9

2156.2

2120.8

2058.0

2016.0

1

2
3
4

Total assets
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business

822.2
154.9
40.7

967.8
191.4
49.4

1116.4
301.9
59.0

1104.8
297.9
58.2

1043.3
299.8
59.2

1058.4
287.9
57.6

1076.1
328.8
61.3

1060.6
319.1
60.0

1018.1
303.6
58.7

991.2
277.6
55.6

986.0
276.0
53.1

2
3
4

5
6
7
8

Bank personal trusts and estates
Life insurance companies
Private pension funds
Funding corporations

53.7
131.8
75.1
300.5

60.6
142.3
79.6
321.1

52.8
173.3
69.0
468.4

53.1
169.3
69.7
450.4

53.4
171.9
70.4
453.2

53.8
157.9
71.1
428.2

54.1
159.8
71.8
472.0

51.8
152.7
72.5
439.5

49.5
153.4
73.2
464.3

47.2
152.3
73.9
460.2

44.9
151.4
74.7
429.9

5
6
7
8

86

Z.1, March 4, 2004

L.207 Federal Funds and Security Repurchase Agreements
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

1083.6

1196.8

1231.8

1262.4

1343.1

1313.7

1336.8

1323.1

1450.0

1483.2

1662.9

1

2
3
4
5

Commercial banking (net)
U.S.-chartered commercial banks
Foreign banking offices in U.S.
Bank holding companies

750.0
667.0
82.5
0.5

816.1
682.4
134.8
-1.1

786.5
663.9
123.9
-1.2

768.5
671.3
96.1
1.0

805.7
683.3
121.4
1.0

834.9
694.3
139.3
1.3

902.0
737.4
163.4
1.2

896.6
698.7
191.8
6.2

992.4
786.6
197.1
8.8

972.8
802.9
167.7
2.2

1069.2
905.6
161.5
2.1

2
3
4
5

6
7
8

Savings institutions
REITs
Brokers and dealers (net)

72.7
15.7
245.2

66.7
11.9
302.2

72.4
19.7
353.2

78.1
25.4
390.4

69.8
29.3
438.3

61.0
34.1
383.7

57.4
33.2
344.2

60.8
30.4
335.2

64.6
35.0
358.0

65.6
33.4
411.4

77.5
35.5
480.7

6
7
8

817.2

807.9

888.3

866.1

884.3

938.3

987.3

934.9

1156.9

1186.4

1283.5

9

9

Total liabilities

2000

Total assets

10
11
12

Nonfinancial corporate business
State and local governments
Rest of the world

5.8
163.5
79.9

4.2
173.3
91.3

4.0
159.9
150.7

3.7
150.4
128.2

5.7
157.9
159.6

5.4
153.7
205.2

6.2
157.7
190.1

5.8
160.5
161.5

6.6
169.9
361.8

7.1
178.4
423.9

7.9
190.1
460.3

10
11
12

13
14
15
16

Financial sectors
Monetary authority
Savings institutions
Credit unions

568.0
140.6
10.6
9.3

539.1
43.4
14.9
4.0

573.7
50.3
27.4
2.5

583.9
29.5
31.2
7.3

561.0
32.0
24.9
2.4

574.0
21.8
29.0
5.0

633.2
39.5
27.1
1.7

607.1
31.8
29.7
4.4

618.7
31.8
25.6
2.4

577.1
37.5
24.8
2.8

625.1
43.8
21.0
1.6

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

28.3
28.6
40.4
139.6
80.8
89.7

38.3
29.6
44.7
183.0
106.4
74.9

30.2
30.4
45.3
227.0
74.8
85.9

28.2
29.4
45.4
236.2
85.8
91.0

28.7
30.1
43.3
247.1
81.2
71.4

38.1
32.6
42.6
245.3
76.9
82.7

44.4
32.3
45.5
273.2
84.7
84.9

42.0
32.0
45.9
262.1
86.0
73.2

48.8
31.7
46.5
258.7
86.9
86.4

51.0
31.3
46.9
229.0
83.5
70.3

56.2
31.0
48.4
251.4
93.5
78.2

17
18
19
20
21
22

266.4

388.9

343.5

396.4

458.8

375.5

349.5

388.2

293.1

296.9

379.4

23

23

Discrepancy--unallocated assets

L.208 Open Market Paper
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1
2
3
4
5
6

Total outstanding, all types
Commercial paper
Nonfinancial corporate business
Foreign issues in U.S.
Nonfinancial
Financial

1402.4

1614.0

1466.2

1407.0

1351.0

1351.2

1374.7

1359.2

1317.1

1294.5

1293.1

1

1393.8

1606.1

1461.4

1402.6

1346.1

1346.3

1370.1

1354.4

1312.5

1290.2

1288.7

2

230.3
89.2
26.7
62.5

278.4
120.9
37.6
83.3

190.1
106.7
14.3
92.4

167.5
123.6
17.4
106.2

148.4
130.2
21.3
108.9

142.2
134.0
18.8
115.2

126.0
142.8
19.1
123.7

127.1
155.7
18.5
137.1

107.5
173.1
20.3
152.8

108.4
160.4
16.7
143.7

85.9
165.1
15.4
149.6

3
4
5
6

7
8
9
10
11
12

Financial business
Commercial banking
ABS issuers
Finance companies
REITs
Funding corporations

1074.3
54.5
520.8
230.4
0.1
268.5

1206.7
55.7
645.8
238.8
0.2
266.2

1164.6
50.6
765.8
158.6
0.8
188.8

1111.4
56.5
756.4
137.0
1.1
160.5

1067.4
43.4
739.5
130.8
1.6
152.2

1070.1
46.6
738.2
143.1
1.4
140.8

1101.3
48.3
752.8
141.5
0.9
157.7

1071.6
44.6
728.3
127.3
1.3
170.2

1031.9
39.6
719.8
145.3
0.4
126.9

1021.4
40.9
731.0
132.9
0.7
115.9

1037.7
42.3
717.3
137.2
0.7
140.2

7
8
9
10
11
12

13

Bankers acceptances (1)

8.6

7.9

4.8

4.5

4.9

4.9

4.6

4.8

4.6

4.3

4.4

13

1402.4

1614.0

1466.2

1407.0

1351.0

1351.2

1374.7

1359.2

1317.1

1294.5

1293.1

14

14

Holdings, by sector

15
16
17
18

Household sector
Nonfinancial corporate business
State and local governments
Rest of the world

67.7
47.6
108.9
102.3

72.6
57.8
116.5
111.9

41.8
60.3
90.0
118.1

40.8
56.0
79.0
126.2

38.9
55.9
75.1
129.9

43.9
62.1
80.5
130.6

47.6
66.6
86.2
135.4

53.7
64.9
81.6
139.7

46.1
67.4
78.2
153.6

47.7
71.4
67.0
146.3

46.0
74.1
53.8
152.7

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
1.4
0.0
1.9
17.1

0.0
1.5
0.0
1.2
14.7

0.0
0.0
0.0
2.4
11.6

0.0
0.0
0.0
2.3
11.6

0.0
0.0
0.0
3.4
11.5

0.0
0.0
0.0
2.7
11.5

0.0
0.0
0.0
3.6
11.4

0.0
0.0
0.0
2.9
11.3

0.0
0.0
0.0
3.4
11.2

0.0
0.0
0.0
3.1
11.1

0.0
0.0
0.0
1.6
11.0

19
20
21
22
23

24
25
26

Life insurance companies
Private pension funds
State and local govt. retirement funds

75.8
37.5
40.4

71.2
35.8
44.7

59.3
33.5
45.3

66.1
36.0
45.4

68.9
37.4
43.3

80.0
45.7
42.6

74.0
44.4
45.5

79.2
44.2
45.9

76.4
42.3
46.5

79.0
42.0
46.9

76.5
40.4
43.4

24
25
26

27
28
29
30
31

Money market mutual funds
Mutual funds
Government-sponsored enterprises
Brokers and dealers
Funding corporations

519.0
80.8
33.8
26.0
242.3

608.6
106.4
44.7
39.2
287.2

638.9
74.8
80.3
48.2
161.8

620.8
81.6
49.2
47.6
144.3

595.6
62.8
59.4
50.8
118.1

547.1
58.4
52.8
44.3
148.7

594.0
66.1
52.2
43.5
104.0

543.6
67.3
51.1
46.7
127.2

517.7
68.5
55.2
41.9
108.7

471.7
65.2
46.5
46.1
150.6

458.9
75.3
49.4
47.6
162.4

27
28
29
30
31

(1) Excludes banks’ holdings of own acceptances.

87

Z.1, March 4, 2004

L.209 Treasury Securities
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

3652.7

3357.8

3352.7

3404.0

3424.6

3513.6

3609.8

3673.7

3779.9

3887.5

4008.2

1

186.4
3466.2

184.8
3173.0

190.3
3162.4

191.9
3212.1

192.7
3231.9

193.3
3320.4

194.9
3414.9

196.9
3476.8

199.1
3580.8

201.5
3686.0

203.8
3804.4

2
3

3652.7

3357.8

3352.7

3404.0

3424.6

3513.6

3609.8

3673.7

3779.9

3887.5

4008.2

4

Household sector
Savings bonds
Other Treasury issues

806.7
186.4
620.2

586.3
184.8
401.5

486.8
190.3
296.5

468.6
191.9
276.7

428.1
192.7
235.4

434.1
193.3
240.9

382.4
194.9
187.6

428.3
196.9
231.4

479.7
199.1
280.5

446.5
201.5
245.0

418.5
203.8
214.7

5
6
7

8
9
10

Nonfinancial corporate business
Nonfarm noncorporate business
State and local governments

19.4
37.2
266.8

18.1
40.2
247.7

16.5
42.8
297.9

22.3
43.4
303.9

27.1
43.8
316.8

29.1
44.3
316.4

31.6
45.2
320.0

35.6
45.1
311.2

44.9
46.3
323.5

56.3
46.8
325.9

66.9
47.5
343.7

8
9
10

11
12

Rest of the world
Monetary authority

1080.4
478.0

1026.1
511.7

1039.7
551.7

1050.5
575.4

1079.8
590.7

1138.7
604.2

1214.2
629.4

1250.6
641.5

1343.1
652.1

1408.9
656.1

1489.0
666.7

11
12

13
14
15
16
17

Commercial banking
U.S.-chartered commercial banks
Foreign banking offices in U.S.
Bank holding companies
Banks in U.S.-affiliated areas

228.9
122.8
94.5
8.8
2.8

184.5
87.9
94.0
0.8
1.8

162.7
56.5
103.8
1.2
1.2

165.9
68.6
94.1
1.3
2.0

183.8
75.2
105.7
1.7
1.1

192.0
74.6
115.0
1.4
1.1

205.8
86.4
116.7
1.3
1.5

136.7
89.3
44.3
1.3
1.7

127.2
77.9
44.5
2.4
2.4

127.5
81.2
40.1
3.0
3.2

133.8
93.5
34.2
2.7
3.4

13
14
15
16
17

18
19
20

Savings institutions
Credit unions
Bank personal trusts and estates

10.1
9.6
17.3

8.7
8.2
16.3

11.4
7.4
11.5

14.1
7.6
11.5

12.7
8.1
11.4

10.3
8.1
11.3

9.2
7.8
11.2

9.2
7.3
11.1

10.0
8.7
11.0

11.2
9.1
10.9

12.2
8.9
10.9

18
19
20

21
22
23
24
25

Life insurance companies
Other insurance companies
Private pension funds
State and local govt. retirement funds
Federal government retirement funds

62.8
60.6
79.5
247.4
31.0

58.1
52.1
76.1
231.9
33.0

53.7
52.0
65.7
213.6
40.2

59.8
54.2
66.2
223.2
41.7

65.7
56.3
67.3
213.4
43.2

72.3
58.2
66.1
210.3
46.8

78.5
61.2
66.9
212.5
49.6

81.4
62.6
66.9
213.5
53.4

83.5
64.0
67.8
218.8
53.9

84.6
65.8
65.7
213.3
54.6

85.1
66.2
66.5
207.2
54.3

21
22
23
24
25

26
27
28
29
30
31

Money market mutual funds
Mutual funds
Closed-end funds
Exchange-traded funds
Government-sponsored enterprises
Brokers and dealers

103.8
117.3
7.6
0.0
30.9
-42.6

90.4
123.7
6.7
0.0
41.2
-3.3

135.7
115.1
6.7
0.0
31.8
9.8

137.8
120.0
7.0
0.0
32.7
-1.7

123.3
122.0
4.7
0.0
16.5
9.9

119.7
129.3
4.7
2.1
15.7
0.0

140.2
133.3
5.5
2.0
7.2
-3.9

147.4
141.0
4.0
1.5
8.0
17.5

144.2
150.5
4.7
1.3
7.9
-63.2

134.2
147.2
5.0
1.8
7.8
8.2

130.2
147.3
5.6
2.1
7.9
37.8

26
27
28
29
30
31

3681.0

3385.1

3379.5

3430.3

3451.4

3540.8

3637.0

3700.6

3806.9

3914.5

4033.1

32

2
3
4
5
6
7

Total liabilities

2000

Savings bonds
Other Treasury issues
Total assets

Memo:
32

Federal government debt (1)

(1) Total Treasury securities (table L.209, line 1) plus budget agency securities (table L.210, line 2) and federal mortgage debt (table L.217, line 12).

88

Z.1, March 4, 2004

L.210 Agency Securities (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1
2
3
4
5

Total liabilities
Budget agencies
Government-sponsored enterprises
Federally related mortgage pools

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

3912.2

4344.8

4970.9

5143.2

5265.6

5371.2

5525.4

5641.9

5754.5

5945.5

6096.0

1

28.3
1591.7
2292.2

27.3
1825.8
2491.6

26.8
2114.0
2830.1

26.3
2161.8
2955.1

26.8
2197.2
3041.6

27.2
2259.5
3084.5

27.3
2339.9
3158.2

26.9
2388.7
3226.3

27.0
2438.7
3288.8

27.0
2548.1
3370.4

24.9
2582.7
3488.4

2
3
4

3912.2

4344.8

4970.9

5143.2

5265.6

5371.2

5525.4

5641.9

5754.5

5945.5

6096.0

5

Household sector
Nonfinancial corporate business
State and local governments

301.0
12.4
190.0

348.3
15.4
192.0

269.9
17.2
211.9

242.8
19.8
215.1

222.2
20.4
216.0

148.1
18.6
215.0

95.4
17.0
214.0

61.0
16.0
211.0

25.1
13.9
214.0

159.2
7.7
216.8

269.6
1.4
221.3

6
7
8

9
10
11

Federal government
Rest of the world
Monetary authority

0.0
300.2
0.2

0.0
445.2
0.1

0.0
553.8
0.0

0.0
567.4
0.0

0.0
606.9
0.0

0.0
639.6
0.0

0.0
669.4
0.0

0.0
676.7
0.0

0.0
678.2
0.0

0.0
637.1
0.0

0.0
681.6
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

699.6
608.3
72.4
5.4
13.5

721.8
626.5
72.7
4.8
17.8

777.4
700.2
50.7
6.2
20.3

808.3
725.1
51.7
10.2
21.3

856.8
767.3
55.3
11.5
22.8

889.9
794.4
61.5
10.9
23.1

917.9
821.3
61.6
10.7
24.2

961.2
866.4
60.0
11.4
23.4

1035.0
936.0
63.1
10.9
25.0

967.8
872.5
54.8
12.2
28.3

999.5
906.4
52.5
11.6
28.9

12
13
14
15
16

17
18
19

Savings institutions
Credit unions
Bank personal trusts and estates

147.1
61.3
45.2

140.4
60.9
45.5

161.4
80.6
35.1

173.6
90.7
34.9

172.6
98.1
34.7

168.5
93.0
34.4

176.2
97.3
34.2

186.1
107.2
33.6

192.4
116.2
32.9

193.3
125.7
32.2

199.3
115.5
31.6

17
18
19

20
21
22
23
24

Life insurance companies
Other insurance companies
Private pension funds
State and local govt. retirement funds
Federal government retirement funds

224.4
75.5
208.8
129.0
1.3

235.4
84.1
225.2
166.6
1.4

253.5
94.2
236.9
152.1
3.1

273.0
98.7
240.8
149.2
3.0

291.2
103.1
241.7
149.4
3.2

312.2
107.0
244.9
149.8
3.9

330.9
113.2
242.5
151.8
5.5

341.3
115.6
241.5
151.1
7.7

351.1
118.0
242.1
151.7
7.7

356.0
121.5
237.4
154.8
7.1

361.0
124.6
237.2
159.8
6.7

20
21
22
23
24

25
26
27

Money market mutual funds
Mutual funds
Government-sponsored enterprises

190.9
271.1
668.3

185.2
275.3
813.3

318.4
360.5
998.7

311.7
376.0
1077.3

290.0
382.1
1084.5

318.2
404.9
1110.1

324.1
417.6
1181.5

319.0
429.3
1198.1

326.9
446.6
1187.2

350.9
444.5
1330.2

326.2
444.3
1322.0

25
26
27

28
29
30

ABS issuers
REITs
Brokers and dealers

306.0
14.2
66.0

310.4
14.5
63.7

348.2
20.2
77.8

363.2
25.9
71.8

373.2
29.2
90.0

393.1
31.2
88.8

417.0
28.3
91.8

433.0
24.5
128.1

450.1
26.3
139.4

495.0
22.4
85.8

487.4
23.2
83.7

28
29
30

6
7
8

Total assets

2000

(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, March 4, 2004

L.211 Municipal Securities and Loans
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

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

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

1457.2

1480.9

1603.7

1627.4

1681.5

1706.9

1763.1

1791.1

1850.4

1863.2

1899.4

1

1167.1
43.7
1123.4

1183.6
45.1
1138.5

1289.2
69.0
1220.2

1310.9
70.1
1240.9

1361.0
75.2
1285.8

1383.8
83.6
1300.2

1432.6
94.2
1338.4

1456.6
92.8
1363.8

1511.1
92.2
1418.9

1519.9
94.9
1425.0

1551.1
101.1
1449.9

2
3
4

137.3
152.8

143.0
154.2

156.9
157.7

159.0
157.5

162.2
158.3

163.9
159.3

169.8
160.8

173.6
160.9

177.3
162.0

180.6
162.8

184.3
164.0

5
6

1457.2

1480.9

1603.7

1627.4

1681.5

1706.9

1763.1

1791.1

1850.4

1863.2

1899.4

7

8
9
10
11

Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
State and local governments

450.2
25.0
2.7
1.0

460.7
31.9
2.4
1.6

511.9
29.3
3.5
1.9

543.9
28.9
3.6
1.7

590.4
26.1
3.6
1.4

584.8
31.0
3.7
1.0

618.3
28.7
3.7
0.5

625.8
28.2
3.8
1.2

657.0
28.2
3.8
1.6

655.0
30.3
3.9
2.9

680.6
32.0
3.9
4.3

8
9
10
11

12
13
14

Commercial banking
Savings institutions
Bank personal trusts and estates

110.8
3.0
100.3

114.1
3.2
99.1

120.2
4.5
95.6

118.7
4.6
96.9

118.3
4.8
98.3

121.2
4.9
99.6

121.7
5.5
100.9

123.2
5.5
100.3

127.1
5.8
99.6

131.9
6.3
98.9

132.5
6.3
98.4

12
13
14

15
16
17

Life insurance companies
Other insurance companies
State and local govt. retirement funds

20.1
199.0
3.0

19.1
184.1
1.6

18.7
173.8
1.4

19.1
175.9
0.4

19.3
177.9
0.5

19.7
178.6
0.5

19.9
183.0
0.5

20.2
187.5
0.6

20.9
191.4
0.5

21.2
197.1
0.6

21.4
200.6
0.6

15
16
17

18
19
20
21
22

Money market mutual funds
Mutual funds
Closed-end funds
Government-sponsored enterprises
Brokers and dealers

210.4
239.4
69.7
10.6
11.9

244.7
230.5
67.7
8.8
11.3

281.0
253.4
74.7
14.8
19.0

274.1
257.8
76.8
11.4
13.6

269.3
265.3
78.9
10.0
17.4

272.0
275.7
81.1
12.9
20.3

282.8
277.4
86.0
13.1
21.0

292.7
282.3
87.1
13.4
19.2

299.0
292.0
86.7
14.5
22.1

296.5
289.8
88.8
15.8
24.1

297.3
291.1
89.7
15.9
24.9

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

4684.2

5067.8

5693.9

5839.3

5984.1

6023.4

6189.7

6380.2

6557.1

6672.1

6840.4

1

2
3

Nonfinancial corporate business
Rest of the world (1)

2067.7
452.5

2230.3
467.7

2578.8
443.2

2644.9
439.6

2691.2
426.1

2686.1
417.3

2711.0
409.8

2757.7
402.5

2832.0
377.0

2856.0
375.7

2873.3
384.6

2
3

4
5
6

Financial sectors
Commercial banking
Savings institutions

2164.0
240.6
2.7

2369.8
273.2
6.3

2671.9
310.2
3.6

2754.8
304.8
3.5

2866.8
313.8
2.9

2920.1
317.4
2.9

3068.9
332.2
3.4

3219.9
352.9
4.8

3348.1
359.7
4.8

3440.4
361.2
5.0

3582.4
379.2
5.1

4
5
6

7
8
9
10
11

ABS issuers
Finance companies
REITs
Brokers and dealers
Funding corporations

1167.2
430.3
62.2
25.3
235.5

1241.5
503.4
67.0
40.9
237.5

1415.0
570.2
70.8
42.3
259.7

1476.9
578.0
71.1
38.4
282.1

1549.2
601.8
75.6
42.8
280.7

1600.4
590.9
81.3
46.6
280.7

1684.4
633.2
84.9
40.6
290.1

1782.7
647.4
89.3
50.2
292.6

1868.5
675.5
93.6
46.2
299.9

1914.3
710.2
100.4
48.6
300.7

2000.6
738.9
106.1
47.0
305.5

7
8
9
10
11

4684.2

5067.8

5693.9

5839.3

5984.1

6023.4

6189.7

6380.2

6557.1

6672.1

6840.4

12

822.2
71.3
704.3

892.0
75.0
776.3

1009.7
86.9
896.9

1033.0
88.2
935.9

1086.2
91.5
964.3

1086.5
89.4
960.5

1175.0
88.7
986.2

1104.7
83.5
1050.0

1065.5
85.9
1119.7

1010.5
84.6
1223.0

980.4
87.7
1293.9

13
14
15

220.5
111.9
39.8
1173.2
181.1
299.2
310.0
0.8

278.6
109.4
44.9
1222.2
187.5
317.9
339.7
0.8

376.4
83.9
38.3
1342.4
196.4
324.3
351.1
1.6

373.7
83.3
37.6
1375.5
196.9
328.7
361.6
1.6

358.8
85.2
36.9
1397.7
197.2
330.4
357.9
1.7

368.9
85.8
36.3
1430.8
196.1
329.8
356.9
2.0

379.1
79.9
35.6
1449.3
198.9
332.2
360.5
2.8

470.8
81.9
36.5
1499.6
204.6
334.9
357.5
3.9

473.3
75.4
37.5
1546.1
209.4
340.7
354.4
3.9

483.1
68.6
38.5
1570.3
215.6
339.3
356.4
3.6

506.4
71.1
39.5
1597.1
219.1
340.7
362.5
3.4

16
17
18
19
20
21
22
23

123.7
368.2
33.5
0.0
91.5
5.7
93.4
33.8

161.9
361.9
30.9
0.0
117.2
4.9
112.7
33.9

163.0
420.0
27.1
0.0
132.7
7.0
161.3
74.8

152.5
441.4
28.3
0.0
139.2
7.4
168.2
86.3

141.4
459.3
29.9
0.0
154.5
8.6
184.5
98.0

154.1
466.2
26.8
1.6
149.3
10.2
181.8
90.3

170.7
470.9
25.5
1.8
139.7
11.7
192.0
89.4

182.9
492.1
32.6
1.9
150.2
12.5
179.4
100.7

192.5
520.6
47.2
2.3
158.2
11.4
201.0
112.1

184.9
532.0
55.4
2.2
156.9
13.4
210.8
123.1

185.9
548.3
66.8
2.4
157.3
12.9
227.5
137.3

24
25
26
27
28
29
30
31

12

Total assets

13
14
15

Household sector
State and local governments
Rest of the world (2)

16
17
18
19
20
21
22
23

Commercial banking
Savings institutions
Bank personal trusts and estates
Life insurance companies
Other insurance companies
Private pension funds
State and local govt. retirement funds
Federal government retirement funds

24
25
26
27
28
29
30
31

Money market mutual funds
Mutual funds
Closed-end funds
Exchange-traded funds
Government-sponsored enterprises
REITs
Brokers and dealers
Funding corporations

(1) Holdings of foreign issues by U.S. residents.
(2) Holdings of U.S. issues by foreign residents.

90

Z.1, March 4, 2004

L.213 Corporate Equities (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1

Issues at market value

2

Nonfinancial corporate business

3
4

Rest of the world (2)
Financial corporations

5
6
7
8

Holdings at market value
Household sector
State and local governments
Rest of the world (3)

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

19522.8

17627.0

15310.6

15235.8

13338.5

10946.9

11870.9

11424.5

13274.7

13749.1

15497.9

1

15155.6

12678.8

10796.2

10709.5

8999.1

7322.1

7906.9

7645.8

8819.9

9044.5

10170.3

2

2003.7
2363.4

1852.9
3095.3

1612.7
2901.8

1515.9
3010.4

1491.0
2848.4

1179.9
2444.9

1345.2
2618.8

1270.2
2508.5

1516.9
2937.8

1661.3
3043.3

1943.5
3384.2

3
4

19522.8

17627.0

15310.6

15235.8

13338.5

10946.9

11870.9

11424.5

13274.7

13749.1

15497.9

5

9052.1
115.0
1611.5

7473.6
115.1
1625.6

6184.2
126.3
1533.9

5922.1
129.3
1592.4

5049.2
121.3
1424.6

4086.7
101.8
1197.3

4601.5
112.9
1222.7

4431.2
104.7
1154.1

5059.7
119.9
1363.8

5160.7
122.0
1394.9

5709.2
138.0
1618.4

6
7
8

11.3
23.8
407.3

11.9
24.2
356.8

8.9
27.9
280.7

8.5
28.3
272.6

4.9
28.6
227.1

0.0
28.6
177.3

3.5
29.1
181.1

2.0
29.9
170.1

6.7
30.6
192.7

9.7
31.1
194.4

15.1
30.4
213.1

9
10
11

9
10
11

Commercial banking
Savings institutions
Bank personal trusts and estates

12
13
14
15
16

Life insurance companies
Other insurance companies
Private pension funds
State and local govt. retirement funds
Federal government retirement funds

904.0
207.9
2268.9
1343.2
59.1

887.0
194.3
2137.8
1335.1
59.1

806.8
173.9
1859.7
1221.9
51.4

822.0
176.2
1898.2
1244.8
52.9

755.1
163.3
1645.3
1116.7
46.9

663.4
145.4
1351.0
937.2
39.6

705.0
152.3
1417.6
1001.6
48.5

702.8
147.4
1369.2
970.7
52.3

803.0
162.9
1595.2
1130.4
63.0

838.8
167.3
1664.7
1171.2
69.5

955.7
187.4
1872.5
1318.8
80.4

12
13
14
15
16

17
18
19
20

Mutual funds
Closed-end funds
Exchange-traded funds
Brokers and dealers

3376.7
41.3
33.9
66.9

3226.9
36.6
65.6
77.2

2836.1
31.1
83.0
85.1

2883.1
31.0
88.2
86.2

2552.5
30.3
89.0
83.7

2040.1
30.8
78.3
69.4

2188.4
33.7
98.2
74.9

2091.3
33.9
97.2
67.7

2501.9
39.6
117.7
87.6

2677.5
45.1
115.5
86.8

3062.1
52.8
146.3
97.7

17
18
19
20

17158.0

15388.5

13316.1

13329.8

11476.2

9443.0

10163.0

9806.2

11343.2

11663.4

13055.2

21

Memo:
21

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, and 19; 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

4538.5

4434.6

4135.5

4247.0

3926.6

3452.3

3639.4

3591.0

4068.9

4242.7

4664.9

1

2

Holdings at market value

4538.5

4434.6

4135.5

4247.0

3926.6

3452.3

3639.4

3591.0

4068.9

4242.7

4664.9

2

3
4
5

Household sector
Nonfinancial corporate business
State and local governments

3115.2
133.7
25.6

3035.8
122.8
26.4

2869.7
105.9
31.5

2936.8
108.3
30.5

2744.3
95.6
32.4

2430.1
81.3
33.1

2539.2
90.5
33.5

2521.7
89.7
35.7

2858.2
106.4
34.9

2999.0
112.2
33.5

3291.6
127.9
30.5

3
4
5

6
7
8

Commercial banking
Credit unions
Bank personal trusts and estates

12.4
2.5
391.5

15.0
2.2
396.8

21.3
3.7
359.1

22.3
3.0
370.0

18.2
4.0
345.8

13.6
4.0
313.6

19.6
3.5
339.1

13.5
3.4
327.1

16.3
4.5
360.0

14.5
5.0
364.5

17.1
4.1
391.2

6
7
8

Life insurance companies
Private pension funds

103.8
753.8

101.9
733.6

92.7
651.5

93.6
682.4

86.3
600.0

76.5
500.1

80.5
533.5

79.4
520.4

91.9
596.8

96.1
617.9

106.7
695.8

9
10

9
10

91

Z.1, March 4, 2004

L.215 Bank Loans Not Elsewhere Classified
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

1

Total loans by commercial
banking, flow of funds basis

3505.1

3874.8

3944.4

3918.7

3980.3

4074.7

4163.8

4184.4

4272.8

4327.0

4398.3

1

2
3
4
5

- Loans elsewhere classified:
Open market paper
Mortgages
Consumer credit
Security credit

1.4
1495.4
499.8
124.8

1.5
1660.1
541.5
175.2

0.0
1789.8
558.4
175.2

0.0
1800.3
550.7
158.5

0.0
1873.1
554.9
174.6

0.0
1962.0
575.7
175.3

0.0
2058.3
587.2
177.9

0.0
2099.4
575.3
207.4

0.0
2193.1
584.2
208.3

0.0
2263.9
593.7
209.1

0.0
2256.0
636.4
213.5

2
3
4
5

6

= Banking sector total bank loans n.e.c.

1383.8

1496.6

1421.0

1409.1

1377.8

1361.7

1340.4

1302.3

1287.2

1260.3

1292.4

6

1104.3
260.0
2.6
16.9

1202.4
274.6
1.6
18.0

1140.5
256.1
1.9
22.5

1118.9
265.9
2.1
22.2

1098.1
255.2
2.1
22.4

1092.3
244.9
2.1
22.4

1081.9
237.5
2.9
18.1

1050.6
231.2
2.6
17.9

1039.3
223.1
6.7
18.2

1029.5
205.7
6.8
18.2

1045.5
220.4
7.9
18.6

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.

1383.8

1496.6

1421.0

1409.1

1377.8

1361.7

1340.4

1302.3

1287.2

1260.3

1292.4

12

13

Total liabilities

1383.8

1496.6

1421.0

1409.1

1377.8

1361.7

1340.4

1302.3

1287.2

1260.3

1292.4

13

1292.3

1405.5

1316.8

1306.8

1267.2

1231.5

1235.0

1209.4

1188.6

1157.6

1194.0

14

67.3
813.0
308.6
44.2

74.1
861.0
352.9
46.9

57.6
758.3
390.7
46.9

55.6
743.4
396.9
44.2

50.4
695.1
402.8
46.8

32.4
677.5
405.5
46.7

54.6
661.9
404.1
46.0

50.9
649.2
398.3
43.4

61.1
632.1
390.7
45.0

51.9
615.0
384.2
45.4

96.3
612.5
378.8
45.5

15
16
17
18

59.2
3.0
9.9
46.4

70.5
3.5
13.2
53.8

63.2
4.3
5.9
53.1

66.7
4.2
6.1
56.5

72.2
4.8
9.7
57.8

69.3
5.0
7.8
56.5

68.6
5.1
5.1
58.4

67.6
4.7
5.5
57.4

59.7
4.7
4.9
50.1

61.0
4.4
3.9
52.8

60.9
4.6
3.7
52.7

19
20
21
22

91.5

91.1

104.2

102.3

110.6

130.3

105.3

92.9

98.7

102.8

98.4

23

14.0
35.4
16.0
26.0

21.5
35.9
16.0
17.7

23.0
50.8
16.0
14.4

22.9
49.4
16.0
14.0

24.0
56.9
16.0
13.7

25.5
74.9
16.0
13.7

27.2
48.0
16.0
14.1

15.1
47.3
16.0
14.5

15.9
53.2
16.0
13.5

15.4
57.6
16.0
13.7

13.9
56.2
16.0
12.2

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, March 4, 2004

L.216 Other Loans and Advances
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

1

Total other loans and advances

1299.9

1425.5

1462.2

1444.0

1465.0

1491.7

1495.3

1507.6

1516.3

1506.5

1514.7

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

131.5
17.2
8.0
43.9
4.9
9.7
47.8
0.0

127.9
16.6
7.6
42.8
5.0
8.7
47.2
0.0

121.9
15.0
7.4
39.6
5.0
8.9
46.0
0.0

120.2
14.7
7.0
39.1
4.9
9.0
45.4
0.0

119.4
14.5
7.2
38.5
4.8
9.1
45.1
0.0

118.5
14.4
6.8
38.6
4.8
9.3
44.6
0.0

118.5
14.2
7.0
38.9
4.7
9.4
44.3
0.0

118.6
14.0
7.3
39.1
4.7
9.5
44.0
0.0

117.8
13.8
7.5
39.4
4.6
9.6
43.0
0.0

117.0
13.6
7.6
39.5
4.5
9.6
42.2
0.0

115.8
13.5
7.8
39.6
4.5
9.7
40.9
0.0

2
3
4
5
6
7
8
9

10
11

Foreign loans to U.S. corporate business
Liab.: Nonfinancial corporate business

119.5
119.5

117.3
117.3

115.7
115.7

109.5
109.5

119.9
119.9

133.7
133.7

125.8
125.8

115.0
115.0

126.1
126.1

125.2
125.2

125.0
125.0

10
11

12
13
14

Customers’ liability on acceptances
outstanding (bank asset)
Liab.: Nonfinancial corporate business
Rest of the world

8.2
4.4
3.9

7.5
4.3
3.1

4.6
4.1
0.5

4.5
3.9
0.6

4.8
4.4
0.5

4.8
4.3
0.5

4.6
4.4
0.2

4.8
4.7
0.1

4.5
4.4
0.1

4.3
4.2
0.1

4.4
4.2
0.2

12
13
14

15
16
17

Savings institution loans to business
Liab.: Nonfinancial corporate business
Nonfarm noncorporate business

30.6
15.3
15.3

39.3
19.7
19.7

42.9
21.5
21.5

44.5
22.2
22.2

44.3
22.2
22.2

45.4
22.7
22.7

46.2
23.1
23.1

47.4
23.7
23.7

48.2
24.1
24.1

57.4
28.7
28.7

56.4
28.2
28.2

15
16
17

18
19
20

Policy loans (Household liability)
Asset: Federal government
Life insurance companies

100.0
0.9
99.0

102.8
0.9
101.9

105.0
0.9
104.1

105.3
0.9
104.4

105.3
0.9
104.3

105.7
0.9
104.8

106.1
0.9
105.1

105.7
1.0
104.7

106.0
1.0
105.0

105.5
1.0
104.6

105.9
1.0
104.9

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)

432.3
0.7
17.9
17.9
145.6
243.7
3.4
3.2

477.6
0.4
19.4
19.5
172.4
260.0
3.4
2.5

515.3
0.4
22.3
19.5
196.6
268.5
4.9
3.1

504.8
0.3
22.1
19.9
199.0
254.2
5.5
3.7

514.1
0.3
23.4
19.8
212.2
248.4
6.0
4.0

534.4
0.3
23.3
19.8
221.7
257.9
6.8
4.5

533.8
0.2
23.7
20.1
226.9
250.8
6.9
5.1

549.8
0.2
22.7
20.4
225.3
267.3
7.6
6.3

549.4
0.2
23.6
19.2
235.6
256.2
8.0
6.6

548.8
0.2
24.0
18.5
232.5
257.5
8.8
7.4

558.0
0.2
24.5
18.8
235.5
261.8
9.1
8.0

21
22
23
24
25
26
27
28

29
30

Securitized loans held by ABS issuers
Liab.: Nonfinancial corporate business

82.6
82.6

94.7
94.7

109.8
109.8

112.4
112.4

107.8
107.8

103.8
103.8

105.0
105.0

112.5
112.5

108.4
108.4

102.7
102.7

104.0
104.0

29
30

31
32
33

Finance company loans to business
Liab.: Nonfinancial corporate business
Nonfarm noncorporate business

395.1
355.6
39.5

458.4
412.6
45.8

447.0
402.3
44.7

443.0
398.7
44.3

449.4
404.5
44.9

445.5
401.0
44.6

455.3
409.7
45.5

453.9
408.5
45.4

455.8
410.2
45.6

445.6
401.0
44.6

445.4
400.9
44.5

31
32
33

93

Z.1, March 4, 2004

L.217 Total Mortgages
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

2000

2001

2002
Q1

1
2
3
4
5
6

Total mortgages
Home
Multifamily residential
Commercial
Farm

2003
Q3

Q4

Q1

Q2

Q3

Q4

6314.5

6883.1

7581.5

7746.7

7962.4

8196.5

8462.9

8672.4

8969.8

9230.6

9465.4

1

4787.2
368.4
1056.5
102.3

5205.4
400.6
1168.2
108.9

5738.6
445.4
1281.2
116.3

5877.2
452.9
1298.5
118.1

6049.6
463.5
1328.8
120.4

6247.7
471.7
1353.5
123.6

6462.6
488.5
1387.0
124.8

6640.2
496.5
1408.7
127.0

6887.9
510.0
1442.7
129.2

7098.7
523.0
1478.5
130.4

7282.6
535.0
1515.6
132.2

2
3
4
5

6314.5

6883.1

7581.5

7746.7

7962.4

8196.5

8462.9

8672.4

8969.8

9230.6

9465.4

6

Household sector

4633.9

5021.0

5530.8

5664.5

5829.2

6018.8

6215.2

6382.0

6612.3

6813.4

6961.4

7

8
9
10
11

Nonfinancial business
Corporate
Nonfarm noncorporate
Farm

1603.9
331.4
1170.1
102.3

1779.1
362.6
1307.6
108.9

1966.5
421.3
1428.8
116.3

1996.4
424.5
1453.8
118.1

2045.5
439.0
1486.1
120.4

2088.7
448.5
1516.7
123.6

2157.6
471.5
1561.3
124.8

2201.2
481.8
1592.4
127.0

2267.4
503.9
1634.3
129.2

2325.2
520.9
1673.9
130.4

2409.6
565.5
1711.9
132.2

8
9
10
11

12
13

Federal government
REITs

0.0
76.7

0.0
82.9

0.0
84.2

0.0
85.9

0.0
87.6

0.0
88.9

0.0
90.1

0.0
89.2

0.0
90.1

0.0
92.0

0.0
94.4

12
13

6314.5

6883.1

7581.5

7746.7

7962.4

8196.5

8462.9

8672.4

8969.8

9230.6

9465.4

14

7

14

Total liabilities

Q2

Total assets

15
16
17

Household sector
Nonfinancial corporate business
Nonfarm noncorporate business

110.4
41.2
24.7

113.4
43.5
23.3

113.0
46.6
26.6

113.2
46.6
27.2

113.6
47.1
27.5

114.0
47.6
27.7

114.1
48.1
27.8

114.4
48.5
27.7

114.6
49.0
27.5

114.7
49.5
27.1

114.9
50.0
26.6

15
16
17

18
19

State and local governments
Federal government

129.8
77.7

134.3
76.9

139.0
75.8

140.2
75.7

141.4
75.5

142.7
75.0

143.9
76.3

145.2
73.9

146.5
74.0

147.8
73.6

149.1
73.8

18
19

20
21
22
23

Commercial banking
Savings institutions (1)
Credit unions
Bank personal trusts and estates

1495.4
668.1
111.0
2.2

1660.1
723.0
124.9
2.3

1789.8
758.2
141.3
2.5

1800.3
746.0
146.0
2.5

1873.1
742.7
151.7
2.5

1962.0
773.7
155.4
2.4

2058.3
781.4
159.4
2.3

2099.4
815.9
162.4
2.2

2193.1
833.6
168.4
2.1

2263.9
852.1
176.3
2.0

2256.0
870.7
181.1
1.9

20
21
22
23

24
25
26
27

Life insurance companies
Other insurance companies
Private pension funds
State and local govt. retirement funds

230.8
1.9
10.3
21.5

235.9
1.6
11.5
21.5

243.0
1.9
12.8
24.9

243.4
1.9
13.2
26.2

245.1
1.9
13.6
27.8

245.9
1.9
14.1
29.6

250.0
2.0
14.5
31.6

251.1
2.0
14.9
33.9

254.3
1.9
15.5
36.3

257.1
1.9
16.0
39.0

259.9
1.9
16.5
41.9

24
25
26
27

28
29
30

Government-sponsored enterprises (1)
Federally related mortgage pools
ABS issuers

242.0
2292.2
654.3

264.2
2491.6
734.4

296.9
2830.1
870.5

304.7
2955.1
899.4

315.8
3041.6
929.9

332.0
3084.5
967.9

359.9
3158.2
1002.8

381.1
3226.3
1040.9

415.3
3288.8
1099.9

445.7
3370.4
1126.6

446.1
3488.4
1203.4

28
29
30

31
32
33

Finance companies
Mortgage companies
REITs

145.8
32.1
23.0

172.3
32.1
16.3

161.3
32.1
15.2

157.2
32.1
15.8

160.5
32.1
19.2

165.5
32.1
22.6

174.5
32.1
25.7

173.9
32.1
26.5

183.4
32.1
33.5

194.7
32.1
40.1

207.4
32.1
43.8

31
32
33

(1) FHLB loans to savings institutions are included in other loans and advances.

94

Z.1, March 4, 2004

L.218 Home Mortgages (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1
2
3
4
5

Total liabilities
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

4787.2

5205.4

5738.6

5877.2

6049.6

6247.7

6462.6

6640.2

6887.9

7098.7

7282.6

1

4523.6
11.5
252.1

4900.4
13.5
291.6

5388.6
15.6
334.4

5517.3
15.5
344.4

5678.4
15.7
355.4

5862.0
16.2
369.5

6062.5
16.2
383.9

6225.5
16.6
398.1

6455.8
17.1
415.0

6651.8
17.4
429.5

6820.6
18.0
444.0

2
3
4

4787.2

5205.4

5738.6

5877.2

6049.6

6247.7

6462.6

6640.2

6887.9

7098.7

7282.6

5

Household sector
Nonfinancial corporate business
Nonfarm noncorporate business

84.2
20.2
9.0

83.2
21.4
8.7

82.2
23.6
9.7

81.9
23.4
10.0

81.7
23.6
10.3

81.5
23.9
10.6

81.2
24.2
11.0

81.0
24.4
11.4

80.7
24.6
11.8

80.5
24.9
12.2

80.2
25.1
12.6

6
7
8

9
10

State and local governments
Federal government

72.6
18.4

76.3
17.7

80.1
17.1

81.1
16.9

82.1
16.5

83.1
16.4

84.1
16.2

85.2
15.9

86.2
15.7

87.3
15.5

88.3
15.3

9
10

11
12
13
14

Commercial banking
Savings institutions
Credit unions
Bank personal trusts and estates

879.6
548.2
111.0
2.2

965.6
594.2
124.9
2.3

1023.9
620.6
141.3
2.5

1018.5
605.2
146.0
2.5

1070.5
599.4
151.7
2.5

1144.0
625.4
155.4
2.4

1222.1
631.4
159.4
2.3

1244.8
662.9
162.4
2.2

1320.7
676.2
168.4
2.1

1368.9
690.4
176.3
2.0

1347.1
703.2
181.1
1.9

11
12
13
14

15
16
17

Life insurance companies
Private pension funds
State and local govt. retirement funds

5.9
6.7
7.5

4.9
7.8
7.5

4.9
9.2
8.7

4.9
9.6
9.2

5.2
10.0
9.7

5.2
10.4
10.4

4.7
10.9
11.1

4.0
11.3
11.9

3.8
11.9
12.7

3.8
12.4
13.7

3.9
13.0
14.7

15
16
17

18
19
20

Government-sponsored enterprises
Federally related mortgage pools
ABS issuers

189.3
2234.7
455.0

205.1
2425.6
499.8

225.3
2748.5
591.2

230.2
2870.6
616.3

238.8
2955.0
638.3

251.2
2996.0
669.3

274.6
3063.7
691.6

294.0
3129.7
725.1

324.9
3189.9
768.7

355.2
3265.5
785.1

355.6
3380.1
842.8

18
19
20

21
22
23

Finance companies
Mortgage companies
REITs

108.2
21.8
12.4

130.6
21.8
7.9

120.1
21.8
7.9

120.4
21.8
8.7

121.8
21.8
10.7

126.5
21.8
14.1

135.0
21.8
17.4

133.9
21.8
18.4

142.5
21.8
25.3

151.8
21.8
31.6

160.8
21.8
35.2

21
22
23

532.8
189.5
59.7
33.4
141.9
108.2

630.6
235.0
72.8
40.7
151.5
130.6

699.4
258.6
77.9
44.9
197.8
120.1

727.0
268.7
78.8
44.2
214.9
120.4

758.6
289.2
79.4
46.7
221.5
121.8

798.9
301.4
81.4
47.0
242.5
126.5

829.2
303.3
78.5
48.1
264.4
135.0

857.9
314.0
83.5
47.3
279.3
133.9

902.7
328.7
83.0
48.4
300.1
142.5

949.2
343.3
87.8
48.8
317.6
151.8

1014.8
366.0
95.6
51.8
340.6
160.8

24
25
26
27
28
29

6
7
8

24
25
26
27
28
29

Total assets

2000

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. Loans of ABS issuers and finance companies (lines 28 and 29) include some subprime first 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

368.4

400.6

445.4

452.9

463.5

471.7

488.5

496.5

510.0

523.0

535.0

1

24.7
318.4

25.9
347.3

27.3
390.3

27.7
396.8

28.1
406.5

28.5
413.9

28.8
429.9

29.2
437.9

29.6
450.7

30.0
462.6

30.4
473.4

2
3

0.0
25.3

0.0
27.4

0.0
27.8

0.0
28.3

0.0
28.9

0.0
29.3

0.0
29.7

0.0
29.4

0.0
29.7

0.0
30.4

0.0
31.1

4
5

368.4

400.6

445.4

452.9

463.5

471.7

488.5

496.5

510.0

523.0

535.0

6

1.4
0.9
8.0

1.4
0.8
7.7

1.4
0.7
9.2

1.4
0.7
9.3

1.4
0.7
9.1

1.4
0.7
8.9

1.4
0.7
8.5

1.4
0.6
8.0

1.4
0.6
7.3

1.4
0.6
6.5

1.5
0.6
5.5

7
8
9

10
11

State and local governments
Federal government

48.3
13.6

49.3
13.9

50.3
13.7

50.6
13.8

50.8
13.9

51.1
13.4

51.3
14.3

51.6
14.2

51.9
14.4

52.1
14.4

52.4
14.5

10
11

12
13

Commercial banking
Savings institutions

67.7
59.3

77.8
61.3

84.9
64.6

86.7
65.2

90.7
66.0

90.9
68.7

94.2
68.7

96.8
69.8

100.1
72.7

102.8
74.9

104.9
78.0

12
13

14
15
16

Life insurance companies
Private pension funds
State and local govt. retirement funds

32.8
0.9
6.0

33.7
0.9
6.0

35.6
0.9
7.0

35.7
0.9
7.3

35.8
0.9
7.8

35.9
0.9
8.3

36.8
0.9
8.9

37.0
0.9
9.5

37.6
0.9
10.2

38.0
0.9
10.9

38.4
0.9
11.7

14
15
16

17
18
19

Government-sponsored enterprises
Federally related mortgage pools
ABS issuers

20.5
57.5
42.0

25.0
66.0
47.5

33.2
81.6
53.5

35.0
84.5
53.9

36.5
86.6
55.2

38.6
88.5
56.6

41.7
94.5
59.0

42.9
96.6
59.6

44.8
98.9
61.7

44.6
104.9
63.4

43.6
108.3
67.1

17
18
19

20
21
22

Finance companies
Mortgage companies
REITs

2.8
5.2
1.6

2.9
5.2
1.2

2.7
5.2
0.9

1.8
5.2
0.9

1.8
5.2
1.0

1.7
5.2
1.0

1.7
5.2
0.8

1.6
5.2
0.8

1.6
5.2
0.8

1.6
5.2
0.7

1.7
5.2
0.7

20
21
22

95

Z.1, March 4, 2004

L.220 Commercial Mortgages
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1
2
3
4
5
6

Total liabilities
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
REITs

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

1056.5

1168.2

1281.2

1298.5

1328.8

1353.5

1387.0

1408.7

1442.7

1478.5

1515.6

1

110.3
295.2
599.7
51.4

120.7
323.2
668.7
55.6

142.2
378.5
704.1
56.4

147.2
381.2
712.6
57.5

150.8
395.2
724.1
58.7

156.8
403.8
733.3
59.6

152.7
426.4
747.5
60.4

156.6
436.0
756.4
59.8

156.5
457.3
768.6
60.3

161.6
473.5
781.8
61.6

140.8
517.1
794.5
63.2

2
3
4
5

1056.5

1168.2

1281.2

1298.5

1328.8

1353.5

1387.0

1408.7

1442.7

1478.5

1515.6

6

Household sector
Nonfinancial corporate business
Nonfarm noncorporate business

6.8
20.1
6.4

8.6
21.2
6.1

7.9
22.2
6.8

8.1
22.5
6.9

8.3
22.7
7.0

8.4
23.0
7.0

8.6
23.2
7.1

8.7
23.5
7.1

8.9
23.7
7.1

9.1
24.0
7.0

9.2
24.2
7.0

7
8
9

10
11

State and local governments
Federal government

7.5
41.5

7.4
41.1

7.2
41.0

7.2
41.1

7.2
41.2

7.1
41.4

7.1
42.1

7.1
40.2

7.1
40.4

7.0
40.2

7.0
40.5

10
11

12
13

Commercial banking
Savings institutions

516.3
60.1

582.6
67.0

645.6
72.5

659.2
75.1

674.9
76.8

689.3
79.0

704.0
80.7

719.0
82.7

732.6
84.1

752.0
86.1

763.4
88.8

12
13

14
15
16
17

Life insurance companies
Other insurance companies
Private pension funds
State and local govt. retirement funds

179.0
1.9
2.7
8.0

183.8
1.6
2.7
8.0

188.4
1.9
2.7
9.2

188.7
1.9
2.7
9.7

190.1
1.9
2.7
10.3

190.7
1.9
2.7
11.0

195.0
2.0
2.7
11.7

196.1
2.0
2.7
12.5

199.4
1.9
2.7
13.4

201.8
1.9
2.7
14.4

203.9
1.9
2.6
15.5

14
15
16
17

18
19
20
21
22

Federally related mortgage pools
ABS issuers
Finance companies
Mortgage companies
REITs

0.0
157.3
34.8
5.1
9.0

0.0
187.1
38.8
5.1
7.3

0.0
225.7
38.5
5.1
6.4

0.0
229.2
34.9
5.1
6.2

0.0
236.3
37.0
5.1
7.5

0.0
242.0
37.2
5.1
7.5

0.0
252.1
37.8
5.1
7.5

0.0
256.2
38.5
5.1
7.3

0.0
269.5
39.3
5.1
7.5

0.0
278.2
41.2
5.1
7.8

0.0
293.5
44.9
5.1
7.9

18
19
20
21
22

7
8
9

Total assets

2000

L.221 Farm Mortgages
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

Total liabilities (Farm business)

102.3

108.9

116.3

118.1

120.4

123.6

124.8

127.0

129.2

130.4

132.2

1

2

Total assets

102.3

108.9

116.3

118.1

120.4

123.6

124.8

127.0

129.2

130.4

132.2

2

17.9
1.3

20.2
0.7

21.5
0.9

21.8
1.0

22.2
1.1

22.7
1.1

22.9
1.2

23.2
1.3

23.6
1.3

23.7
1.4

24.0
1.5

3
4

1.4
4.3

1.4
4.1

1.4
4.0

1.4
3.9

1.4
3.8

1.4
3.8

1.4
3.7

1.4
3.6

1.4
3.5

1.4
3.6

1.4
3.4

5
6

3
4

Household sector
Nonfarm noncorporate business

5
6

State and local governments
Federal government

7
8

Commercial banking
Savings institutions

31.8
0.5

34.0
0.5

35.5
0.5

36.0
0.5

37.0
0.6

37.8
0.6

38.0
0.6

38.7
0.6

39.7
0.6

40.2
0.6

40.6
0.6

7
8

9
10

Life insurance companies
State and local govt. retirement funds

13.0
0.0

13.6
0.0

14.1
0.0

14.1
0.0

14.1
0.0

14.1
0.0

13.5
0.0

14.1
0.0

13.5
0.0

13.5
0.0

13.7
0.0

9
10

11
12

Government-sponsored enterprises
Federally related mortgage pools

32.2
0.0

34.2
0.0

38.5
0.0

39.5
0.0

40.4
0.0

42.1
0.0

43.5
0.0

44.2
0.0

45.6
0.0

46.0
0.0

46.9
0.0

11
12

96

Z.1, March 4, 2004

L.222 Consumer Credit
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

1

Total liabilities (Households)

1542.7

1719.0

1856.7

1839.5

1865.5

1897.2

1938.1

1911.5

1941.4

1984.3

2039.7

1

2

Total assets

1542.7

1719.0

1856.7

1839.5

1865.5

1897.2

1938.1

1911.5

1941.4

1984.3

2039.7

2

78.7
0.0
50.9

82.7
0.0
67.0

82.3
0.0
80.1

74.6
0.0
84.2

73.7
0.0
84.3

72.6
0.0
93.4

82.2
0.0
92.8

71.7
0.0
90.6

77.1
0.0
89.1

77.3
0.0
95.3

74.7
0.0
94.1

3
4
5

3
4
5

Nonfinancial corporate business
Nonfarm noncorporate business
Federal government

6
7
8

Commercial banking
Savings institutions
Credit unions

499.8
61.5
167.9

541.5
64.6
184.4

558.4
69.1
189.6

550.7
68.6
187.7

554.9
68.5
191.6

575.7
65.2
195.9

587.2
68.5
195.7

575.3
68.4
193.9

584.2
73.6
198.6

593.7
72.5
204.9

636.4
77.7
209.7

6
7
8

Government-sponsored enterprises
ABS issuers
Finance companies

33.8
448.4
201.6

37.0
521.3
220.5

39.4
599.7
238.1

40.0
599.5
234.3

40.7
613.5
238.3

40.9
603.8
249.7

36.8
637.1
237.8

35.2
643.1
233.2

31.3
643.3
244.3

27.2
629.5
284.0

29.7
626.8
290.6

9
10
11

9
10
11

L.223 Trade Credit
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

Total trade payables

2

Household sector

3
4
5

Nonfinancial corporate business
Nonfarm noncorporate business
Farm business

6
7

State and local governments
Federal government

8
9

Rest of the world
Brokers and dealers

10

Total trade receivables

11
12

Nonfinancial corporate business
Nonfarm noncorporate business

13
14

Federal government
Rest of the world

15
16

Other insurance companies
ABS issuers

17

Discrepancy

2345.4

2747.7

2663.9

2699.2

2725.1

2753.9

2727.0

2784.9

2854.8

2955.8

3042.7

1

130.9

134.7

138.7

140.4

142.1

143.8

145.7

147.5

149.5

151.5

153.6

2

1228.2
213.3
20.0

1541.4
259.9
20.9

1431.1
255.0
18.3

1453.8
263.6
18.6

1472.7
268.2
19.6

1492.1
271.5
19.6

1453.2
276.0
19.2

1490.6
286.4
20.0

1532.9
297.1
20.7

1601.9
311.6
20.9

1665.7
322.7
21.1

3
4
5

608.6
64.5

635.9
69.0

661.1
72.7

667.6
73.8

673.6
75.5

679.6
75.0

685.6
72.2

691.6
74.0

697.6
74.8

703.6
87.4

709.6
93.5

6
7

49.1
30.9

49.9
35.9

47.8
39.2

45.2
36.3

42.8
30.6

40.5
31.8

37.6
37.4

46.3
28.5

46.9
35.3

46.4
32.5

48.4
28.1

8
9

2248.4

2639.9

2560.7

2644.2

2702.1

2736.5

2641.2

2739.6

2823.8

2904.9

2918.8

10

1655.0
272.6

1938.1
342.1

1821.7
343.9

1882.6
354.0

1925.7
359.6

1950.7
363.6

1849.9
366.7

1930.3
375.9

1995.9
388.1

2054.2
404.5

2051.6
417.1

11
12

22.9
47.4

28.1
47.0

35.5
43.9

35.9
46.1

34.6
46.3

33.7
46.7

33.1
47.0

31.7
47.3

30.4
47.2

32.5
45.6

32.6
43.9

13
14

63.6
187.0

64.6
220.0

69.9
245.9

73.4
252.3

77.8
258.1

77.7
264.0

74.8
269.7

79.3
275.2

81.6
280.5

82.3
285.7

82.7
290.8

15
16

97.0

107.8

103.2

55.0

23.0

17.5

85.8

45.3

31.0

51.0

123.9

17

L.224 Security Credit
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

676.6

822.7

825.9

778.0

745.6

726.3

738.8

796.6

971.9

940.2

860.4

1

2
3

Household sector
Rest of the world

227.9
0.0

235.1
0.0

196.4
0.0

192.0
0.0

170.6
0.0

149.6
0.0

148.2
0.0

159.5
0.0

248.5
0.0

227.6
0.0

180.8
0.0

2
3

4
5
6
7

Brokers and dealers
Customer credit balances (HH)
From U.S.-chartered commercial banks
From foreign banking offices in U.S.

448.7
323.9
67.6
57.2

587.6
412.4
74.7
100.5

629.5
454.3
81.9
93.3

586.0
427.5
80.7
77.9

575.1
400.5
84.9
89.7

576.6
401.3
84.9
90.4

590.6
412.7
79.2
98.7

637.1
429.6
91.5
115.9

723.4
515.1
104.5
103.8

712.6
503.4
99.4
109.8

679.7
466.2
91.5
121.9

4
5
6
7

676.6

822.7

825.9

778.0

745.6

726.3

738.8

796.6

971.9

940.2

860.4

8

8

Total liabilities

Total assets

9
10

Household sector
Rest of the world

323.9
0.0

412.4
0.0

454.3
0.0

427.5
0.0

400.5
0.0

401.3
0.0

412.7
0.0

429.6
0.0

515.1
0.0

503.4
0.0

466.2
0.0

9
10

11
12

Commercial banking
Brokers and dealers

124.8
227.9

175.2
235.1

175.2
196.4

158.5
192.0

174.6
170.6

175.3
149.6

177.9
148.2

207.4
159.5

208.3
248.5

209.1
227.6

213.5
180.8

11
12

97

Z.1, March 4, 2004

L.225 Life Insurance and Pension Fund Reserves
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Life insurance reserves:
1

Total liabilities

783.9

819.1

880.0

894.2

901.2

902.9

920.9

936.3

963.7

978.0

1005.0

1

2
3

Federal government
Life insurance companies

35.0
748.9

36.4
782.7

37.8
842.2

37.7
856.4

38.7
862.4

38.7
864.2

39.4
881.6

39.4
896.9

39.8
923.9

39.9
938.1

40.5
964.5

2
3

4

Total assets (Households)

783.9

819.1

880.0

894.2

901.2

902.9

920.9

936.3

963.7

978.0

1005.0

4

9067.6

9070.9

8681.1

8812.9

8329.4

7718.7

8003.0

7923.5

8525.3

8717.8

9303.6

5

Pension fund reserves:
5

Total liabilities

6
7

Life insurance companies
Private pension funds (1)

1431.0
4598.1

1456.1
4484.1

1465.3
4127.3

1490.4
4213.4

1470.1
3878.3

1434.4
3486.4

1491.7
3601.3

1510.1
3546.0

1601.0
3872.3

1644.9
3961.7

1742.9
4266.9

6
7

8
9

State and local govt. retirement funds
Federal government retirement funds (2)

2262.3
776.2

2331.5
799.2

2226.4
862.0

2256.3
852.9

2123.3
857.6

1932.0
866.0

2013.4
896.6

1982.4
885.0

2144.9
907.1

2188.0
923.0

2334.1
959.7

8
9

9067.6

9070.9

8681.1

8812.9

8329.4

7718.7

8003.0

7923.5

8525.3

8717.8

9303.6

10

10

Total assets (Households) (3)

(1) Includes unallocated insurance company contracts beginning 1985:Q4.
(2) Includes the Federal Employees Thrift Savings Plan, the National Railroad Retirement Investment Trust, and nonmarketable government securities held by federal government retirement funds.
(3) Excludes all individual retirement accounts (IRAs) (table L.225.i), except those at life insurance companies.

L.226 Taxes Payable by Businesses
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

Total taxes payable by all businesses

178.9

204.8

219.2

225.7

233.8

254.2

248.3

270.3

275.6

283.3

282.5

1

2
3

Nonfinancial corporate business
Nonfarm noncorporate business

71.0
53.0

78.0
64.6

81.0
68.7

85.1
69.1

87.7
72.4

101.1
77.1

93.1
76.8

107.5
81.7

107.4
84.1

110.9
85.3

106.5
86.5

2
3

4
5

U.S.-chartered commercial banks
Savings institutions

9.0
2.0

11.1
2.5

13.5
1.7

14.1
1.5

14.8
1.5

15.5
1.5

16.2
1.5

16.9
1.4

17.6
1.4

18.3
1.6

19.1
1.3

4
5

6
7

Life insurance companies
Other insurance companies

16.2
17.4

17.8
19.7

19.7
22.4

20.3
23.2

20.9
23.9

21.5
24.8

22.1
25.6

22.8
26.5

23.4
27.4

24.1
28.4

24.9
29.3

6
7

8
9

Finance companies
Brokers and dealers

8.1
2.2

9.1
2.1

10.2
1.9

10.6
1.9

10.9
1.6

11.2
1.6

11.6
1.3

12.0
1.6

12.4
1.9

12.8
2.0

13.2
1.7

8
9

72.0

87.9

129.9

149.0

102.2

126.8

123.9

153.7

154.0

177.5

182.9

10

33.5
38.5

45.6
42.4

50.1
79.8

49.5
99.5

51.6
50.6

56.0
70.8

59.5
64.3

63.7
90.0

69.0
85.0

74.4
103.1

80.1
102.8

11
12

106.9

116.9

89.3

76.7

131.6

127.5

124.4

116.6

121.6

105.8

99.7

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

1130.4

1095.8

960.7

963.2

893.5

811.6

840.9

819.6

877.0

885.0

932.4

1

2

Asset: Household sector

1130.4

1095.8

960.7

963.2

893.5

811.6

840.9

819.6

877.0

885.0

932.4

2

98

Z.1, March 4, 2004

L.229 Total Miscellaneous Financial Claims
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

9321.5

10542.9

11172.8

11248.1

11507.3

12009.8

11761.8

12050.8

11991.2

12261.1

12195.2

1

2
3
4

Household sector
Nonfinancial corporate business
Nonfarm noncorporate business

19.4
2927.3
466.5

19.6
3449.2
552.6

19.1
3497.9
607.5

19.4
3490.9
613.2

19.3
3517.4
618.3

20.0
3548.8
623.1

20.0
3653.2
628.1

20.7
3688.7
637.3

21.0
3688.8
646.8

21.0
3689.0
655.7

21.2
3678.4
664.5

2
3
4

5
6

Federal government
Rest of the world

690.6
1710.1

711.3
1862.3

772.0
1961.5

760.0
2088.6

768.7
2181.3

779.9
2520.1

796.3
2123.2

773.9
2296.3

784.6
1995.0

794.1
1982.9

820.8
1898.9

5
6

7
8
9
10

Monetary authority
Commercial banking
Savings institutions
Credit unions

9.4
1077.4
85.1
6.0

10.6
1257.8
102.3
5.6

7.7
1256.6
121.3
3.8

8.0
1202.8
122.5
5.2

8.6
1325.5
117.3
5.6

9.5
1368.0
126.8
5.8

30.3
1430.1
137.2
5.1

27.2
1414.9
157.5
1.5

30.7
1464.2
179.5
7.6

33.7
1548.1
192.3
8.5

34.6
1552.8
172.1
6.3

7
8
9
10

11
12

Life insurance companies
Other insurance companies

683.5
534.4

683.8
543.0

704.4
567.7

748.4
576.9

746.8
587.0

756.0
601.9

740.0
610.9

784.2
622.6

818.9
634.2

824.6
652.3

838.2
665.5

11
12

13
14
15

Government-sponsored enterprises
Finance companies
Mortgage companies

89.3
291.1
16.0

96.7
374.5
16.0

133.1
393.6
16.0

130.8
385.5
16.0

127.5
388.4
16.0

130.6
408.4
16.0

135.7
415.3
16.0

138.8
415.7
16.0

147.3
444.9
16.0

177.0
510.7
16.0

158.5
520.0
16.0

13
14
15

16
17
18

REITs
Brokers and dealers
Funding corporations

36.0
183.6
495.6

37.8
182.7
637.1

37.9
316.1
756.5

38.6
302.4
738.9

38.3
287.0
754.2

39.6
289.9
765.4

39.2
236.4
744.7

38.8
246.1
770.5

39.3
258.9
813.4

38.4
261.0
855.6

40.3
278.5
828.6

16
17
18

11655.6

13940.7

14927.6

14910.6

15225.6

15611.9

15404.9

15769.9

15660.5

15714.6

15766.1

19

19

Total liabilities

2000

Total assets

20
21
22
23

Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
Farm business

364.3
5420.8
463.8
45.6

370.9
6723.8
553.7
45.5

389.4
6940.1
683.3
47.0

393.7
6939.1
704.4
47.6

405.3
6898.4
726.9
48.9

414.2
6862.8
754.6
50.4

418.1
7000.7
780.9
51.1

427.3
7044.5
806.3
52.4

434.6
7130.2
831.3
53.6

449.3
7175.0
857.4
55.5

455.3
7356.5
884.3
56.9

20
21
22
23

24
25
26

State and local governments
Federal government
Rest of the world

18.1
100.4
1186.3

24.0
99.0
1646.8

34.7
100.3
1779.9

37.9
101.3
1771.9

57.8
101.4
1981.1

82.1
100.8
2252.4

74.1
100.6
1922.2

85.3
101.8
2137.6

70.1
101.6
1758.3

67.9
101.9
1613.5

34.1
101.9
1357.7

24
25
26

27
28
29
30
31

Monetary authority
Commercial banking
Savings institutions
Credit unions
Bank personal trusts and estates

16.8
1097.7
60.2
8.0
20.5

19.3
1196.9
67.8
12.9
21.7

20.3
1347.9
87.0
18.3
29.4

21.2
1332.2
98.0
29.8
28.8

21.0
1374.3
95.1
20.3
28.1

20.1
1435.7
98.5
22.7
27.5

19.6
1443.4
104.2
28.7
26.8

19.3
1468.7
104.4
24.1
29.2

18.9
1488.8
109.3
27.2
31.6

18.5
1504.8
122.6
12.8
34.0

18.3
1535.6
99.3
26.9
36.4

27
28
29
30
31

32
33
34
35
36

Life insurance companies
Other insurance companies
Private pension funds
State and local govt. retirement funds
Federal government retirement funds

36.9
50.6
627.7
81.0
684.0

55.6
51.8
621.3
93.5
704.9

40.1
52.6
621.0
113.8
765.8

47.3
54.3
625.2
101.2
753.7

47.4
55.7
617.7
112.9
762.6

53.9
56.8
604.7
104.1
773.7

46.8
63.1
617.8
105.9
790.3

64.0
65.8
619.5
103.1
767.8

61.7
68.5
634.6
99.5
778.6

59.1
69.6
639.1
98.5
788.1

61.2
70.6
655.4
91.2
815.0

32
33
34
35
36

37
38
39

Money market mutual funds
Mutual funds
Government-sponsored enterprises

90.4
4.2
75.8

102.5
3.5
88.4

128.6
0.8
101.1

121.0
1.2
94.3

139.2
1.3
112.0

134.0
0.8
113.8

121.6
1.0
120.2

115.8
1.7
119.1

117.4
1.8
138.2

130.6
3.1
136.3

137.0
3.1
140.3

37
38
39

40
41
42
43

Finance companies
REITs
Brokers and dealers
Funding corporations

235.7
21.1
522.8
423.1

261.4
22.0
655.1
498.6

282.7
22.5
821.0
500.0

262.7
22.8
820.5
500.5

265.7
22.2
812.6
517.7

281.0
22.8
825.0
519.7

294.4
22.6
723.7
527.1

299.4
23.5
723.2
565.9

334.5
24.1
791.3
555.0

386.3
25.0
827.3
538.2

400.2
28.8
855.3
544.8

40
41
42
43

-2334.1

-3397.9

-3754.8

-3662.5

-3718.2

-3602.1

-3643.1

-3719.1

-3669.2

-3453.5

-3570.9

44

44

Discrepancy

99

Z.1, March 4, 2004

L.230 Identified Miscellaneous Financial Claims - Part I
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

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

1414.4
1227.7
35.2
16.2
50.6
69.9
14.7

1529.7
1320.4
43.5
17.5
51.8
76.6
20.0

1598.1
1369.6
44.5
20.2
52.6
96.6
14.6

1639.6
1407.5
46.1
20.5
54.3
97.3
13.9

1677.3
1440.0
46.0
22.0
55.7
99.5
14.1

1711.7
1468.9
46.8
22.8
56.8
101.9
14.5

1751.9
1496.1
47.4
23.9
63.1
104.0
17.4

1788.1
1525.8
49.4
24.9
65.8
104.2
17.9

1819.4
1553.9
50.2
23.3
68.5
105.0
18.6

1859.4
1592.2
50.8
23.7
69.6
104.7
18.5

1889.8
1622.8
50.6
23.1
70.6
104.5
18.2

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

1085.5
3.3
62.0
32.1
51.5
48.6
13.9
-80.9

1066.6
3.4
64.2
42.9
60.9
63.2
20.1
-5.1

1069.1
3.2
71.6
46.2
59.4
68.5
13.6
51.6

1068.7
3.4
71.8
46.9
61.1
69.8
13.4
57.9

1058.3
3.4
68.6
44.6
57.6
68.6
9.5
84.8

1063.8
3.4
68.8
46.6
57.1
63.9
8.4
98.2

1181.5
3.4
80.7
45.6
58.5
58.8
13.3
79.2

1178.7
3.3
83.9
43.2
55.0
74.1
13.3
103.1

1174.6
3.4
82.9
42.9
55.4
75.3
16.7
128.2

1186.4
3.4
83.5
43.8
55.3
76.3
17.3
121.7

1230.9
3.4
84.0
44.9
56.5
79.5
20.7
99.0

8
9
10
11
12
13
14
15

16

Asset: Rest of the world

1216.0

1316.2

1383.2

1393.1

1395.5

1410.3

1521.0

1554.8

1579.4

1587.6

1619.0

16

33.9
33.9

35.4
35.4

37.1
37.1

37.5
37.5

37.9
37.9

38.2
38.2

38.7
38.7

39.1
39.1

39.6
39.6

39.9
39.9

40.3
40.3

17
18

6.4
6.4

7.0
7.0

7.4
7.4

7.6
7.6

8.3
8.3

8.3
8.3

8.4
8.4

8.5
8.5

8.7
8.7

8.7
8.7

8.8
8.8

19
20

Federal government equity in IBRD, etc.:
17
18

Liab.: Rest of the world
Asset: Federal government
Federal Reserve Bank stock:

19
20

Liab.: Monetary authority
Asset: Commercial banking
Equity in government-sponsored enterprises:

21

Liab.: Government-sponsored enterprises

30.8

33.0

28.5

31.0

27.1

24.3

25.4

26.7

26.1

25.2

28.7

21

22
23
24
25
26
27
28
29

Asset: Nonfin. corporate business (FNMA)
Nonfarm noncorporate (BC)
Farm business (FICB and FLB)
Federal government
Commercial banks (FHLB)
Savings institutions (FHLB)
Credit unions (FHLB)
Life insurance companies (FHLB)

-0.8
1.6
1.6
0.0
13.0
14.5
0.5
0.3

-0.8
1.6
1.6
0.0
13.8
15.7
0.6
0.4

-8.1
1.5
1.7
0.0
15.2
17.0
0.9
0.3

-6.3
1.5
1.7
0.0
15.7
17.0
1.0
0.3

-10.4
1.5
1.8
0.0
16.9
15.9
1.1
0.4

-13.8
1.5
1.8
0.0
17.1
16.2
1.1
0.4

-13.1
1.5
1.8
0.0
17.5
16.0
1.2
0.5

-13.0
1.6
1.8
0.0
18.0
16.6
1.2
0.6

-14.2
1.5
1.9
0.0
18.4
16.4
1.3
0.8

-16.3
1.7
2.2
0.0
18.6
16.7
1.4
1.0

-13.3
1.9
2.4
0.0
18.7
16.4
1.4
1.1

22
23
24
25
26
27
28
29

BHC investment in subsidiaries:
30
31
32
33
34

Liab.: Commercial banking
Savings institutions
Finance companies
Mortgage companies
Brokers and dealers

471.9
6.0
43.9
16.0
85.4

525.4
6.6
51.3
16.0
115.8

586.1
7.4
49.6
16.0
146.4

593.8
7.6
41.3
16.0
157.9

609.8
7.8
41.7
16.0
152.8

630.4
8.1
41.5
16.0
143.4

639.2
8.3
44.2
16.0
150.8

650.1
8.5
43.7
16.0
159.5

667.0
8.8
48.2
16.0
174.5

679.6
9.1
48.2
16.0
181.9

689.1
9.3
50.5
16.0
188.4

30
31
32
33
34

35

Asset: Bank holding companies

623.1

715.1

805.6

816.7

828.2

839.4

858.5

877.8

914.6

934.8

953.3

35

43.9
43.9

51.3
51.3

49.6
49.6

41.3
41.3

41.7
41.7

41.5
41.5

44.2
44.2

43.7
43.7

48.2
48.2

48.2
48.2

50.5
50.5

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

93.0
330.1

138.7
359.9

107.9
392.2

103.2
397.3

124.3
393.4

121.5
398.2

132.6
394.5

128.3
437.6

124.8
430.2

118.3
419.9

130.8
413.9

38
39

40

Asset: Funding corporations

423.1

498.6

500.0

500.5

517.7

519.7

527.1

565.9

555.0

538.2

544.8

40

100

Z.1, March 4, 2004

L.231 Identified Miscellaneous Financial Claims - Part II
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

2000

2001

2002
Q1

Q2

2003
Q3

Q4

Q1

Q2

Q3

Q4

Nonofficial foreign currencies:
1
2

Liab.: Rest of the world
Asset: Federal government

2.6
2.6

2.6
2.6

2.6
2.6

2.6
2.6

2.5
2.5

2.6
2.6

2.7
2.7

2.6
2.6

2.7
2.7

2.7
2.7

2.7
2.7

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

17.1
17.1

17.0
17.0

25.7
25.7

28.4
28.4

26.3
26.3

28.6
28.6

27.6
27.6

30.5
30.5

30.8
30.8

28.4
28.4

20.5
20.5

5
6

19.4
19.4

19.6
19.6

19.1
19.1

19.4
19.4

19.3
19.3

20.0
20.0

20.0
20.0

20.7
20.7

21.0
21.0

21.0
21.0

21.2
21.2

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
12

Liab.: Life insurance companies
Health
Policy dividend accumulation
Policy and contract claims

162.0
93.5
38.4
30.1

168.9
97.4
39.5
32.0

175.4
100.5
40.4
34.4

176.5
102.2
41.0
33.3

182.5
107.0
42.3
33.2

184.9
108.4
43.0
33.6

185.6
110.6
40.6
34.5

188.5
112.3
40.7
35.5

191.1
114.4
41.8
34.9

198.1
118.6
42.6
36.9

199.1
119.2
42.8
37.1

9
10
11
12

13

Asset: Household sector

162.0

168.9

175.4

176.5

182.5

184.9

185.6

188.5

191.1

198.1

199.1

13

Policy payables:
14

Liab.: Other insurance companies

482.9

482.1

508.2

515.8

529.4

544.7

552.4

567.7

578.8

597.0

609.0

14

15
16
17
18

Asset: Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
Farm business

202.3
190.8
45.9
43.9

202.0
190.4
45.8
43.9

214.0
200.8
48.3
45.3

217.1
203.8
49.0
45.9

222.8
209.1
50.3
47.2

229.2
215.2
51.8
48.6

232.4
218.2
52.5
49.3

238.9
224.2
53.9
50.7

243.5
228.6
55.0
51.7

251.2
235.8
56.7
53.3

256.2
240.5
57.9
54.4

15
16
17
18

393.5
393.5

378.4
378.4

369.0
369.0

377.4
377.4

366.6
366.6

354.5
354.5

362.8
362.8

363.3
363.3

379.4
379.4

381.8
381.8

397.6
397.6

19
20

110.1
110.1

111.3
111.3

112.6
112.6

112.9
112.9

113.3
113.3

113.6
113.6

113.9
113.9

114.2
114.2

114.6
114.6

114.9
114.9

115.2
115.2

21
22

419.5
419.5

508.2
508.2

578.3
578.3

583.9
583.9

597.1
597.1

600.2
600.2

575.4
575.4

567.7
567.7

628.9
628.9

672.7
672.7

675.0
675.0

23
24

684.0
684.0

704.9
704.9

765.8
765.8

753.7
753.7

762.6
762.6

773.7
773.7

790.3
790.3

767.8
767.8

778.6
778.6

788.1
788.1

815.0
815.0

25
26

Unallocated insurance company contracts:
19
20

Liab.: Life insurance companies
Asset: Private pension funds
Pension fund contributions payable:

21
22

Liab.: Nonfinancial corporate business
Asset: Private pension funds
Securities borrowed (net):

23
24

Liab.: Funding corporations
Asset: Brokers and dealers
Nonmarketable government securities:

25
26

Liab.: Federal government
Asset: Federal government retirement funds

101

Z.1, March 4, 2004

L.232 Unidentified Miscellaneous Financial Claims
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1999

1

Total liabilities

2000

2001

2002

2003

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

3238.7

3963.6

4206.7

4210.1

4374.3

4793.4

4355.8

4523.1

4274.2

4414.2

4204.6

1

1731.7
463.2

2271.3
549.2

2316.2
604.3

2309.2
609.7

2345.8
614.9

2371.4
619.7

2357.8
624.7

2395.8
634.0

2399.7
643.4

2387.6
652.3

2332.2
661.2

2
3

Federal government
Rest of the world
Monetary authority

6.6
259.3
3.0

6.4
294.6
3.6

6.2
323.8
0.4

6.3
408.9
0.4

6.2
463.6
0.3

6.2
767.6
1.2

6.0
330.0
21.9

6.1
466.4
18.7

6.0
133.3
22.0

6.0
80.9
25.0

5.8
-34.0
25.7

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

450.6
181.2
157.2
88.1
24.1

529.5
263.2
137.2
104.4
24.8

491.0
173.7
137.4
150.8
29.0

434.0
141.5
110.5
152.3
29.7

522.7
184.5
129.4
180.1
28.7

547.2
202.5
135.8
178.6
30.3

577.6
210.4
148.5
190.9
27.8

552.7
221.6
101.8
200.4
28.8

589.5
235.2
98.5
224.5
31.4

666.6
280.5
118.2
232.7
35.2

648.9
263.0
109.9
241.2
34.9

7
8
9
10
11

12
13
14
15

Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises

79.2
6.0
95.9
41.4

95.7
5.6
93.7
46.7

113.9
3.8
113.8
79.0

114.9
5.2
147.5
71.4

109.5
5.6
153.2
74.2

118.8
5.8
170.0
77.7

128.9
5.1
145.9
82.7

148.9
1.5
189.2
81.6

170.8
7.6
205.6
90.4

183.2
8.5
200.9
123.3

162.8
6.3
196.6
109.3

12
13
14
15

16
17
18
19

Finance companies
REITs
Brokers and dealers
Funding corporations

154.6
36.0
-245.8
157.0

208.7
37.8
-313.1
134.0

225.8
37.9
-236.1
126.7

233.0
38.6
-266.2
97.1

236.4
38.3
-268.6
72.3

261.4
39.6
-260.1
67.0

268.1
39.2
-322.2
90.1

254.1
38.8
-364.3
99.6

273.1
39.3
-362.5
56.2

338.1
38.4
-358.0
61.2

339.4
40.3
-344.5
54.6

16
17
18
19

5572.8

7361.4

7961.5

7872.5

8092.5

8395.5

7998.9

8242.2

7943.5

7867.7

7775.5

20

3959.2
416.3
18.1

5162.5
506.2
24.0

5328.2
633.5
34.7

5292.8
653.9
37.9

5218.0
675.1
57.8

5150.9
701.3
82.1

5255.3
726.9
74.1

5263.7
750.8
85.3

5313.7
774.8
70.1

5315.1
799.1
67.9

5455.9
824.6
34.1

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

63.9
-29.7
16.8

61.0
330.6
19.3

60.7
396.7
20.3

61.2
378.8
21.2

61.0
585.7
21.0

60.0
842.1
20.1

59.2
401.2
19.6

60.0
582.8
19.3

59.3
178.8
18.9

59.3
25.9
18.5

58.9
-261.3
18.3

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

419.9
121.0
204.9
85.4
8.7

417.4
127.4
177.1
106.3
6.6

475.2
163.3
187.2
112.2
12.5

446.1
133.8
183.7
115.1
13.5

474.8
154.6
186.3
119.9
14.1

524.1
187.3
191.5
131.5
13.8

511.6
181.4
184.2
139.5
6.4

515.0
219.3
142.5
145.7
7.5

496.9
214.7
127.6
147.1
7.5

492.0
209.0
125.5
149.9
7.6

504.1
210.0
124.6
161.9
7.5

27
28
29
30
31

32
33
34

Savings institutions
Credit unions
Bank personal trusts and estates

28.6
7.4
20.5

35.1
12.3
21.7

44.3
17.4
29.4

52.5
28.8
28.8

52.9
19.2
28.1

53.6
21.6
27.5

60.5
27.6
26.8

57.4
22.9
29.2

62.1
25.8
31.6

77.5
11.4
34.0

62.4
25.5
36.4

32
33
34

35
36
37

Life insurance companies
Private pension funds
State and local govt. retirement funds

0.9
124.1
81.0

18.2
131.6
93.5

0.5
139.4
113.8

7.1
134.9
101.2

5.7
137.9
112.9

10.6
136.6
104.1

2.4
141.0
105.9

17.8
142.0
103.1

16.5
140.6
99.5

13.4
142.4
98.5

15.7
142.6
91.2

35
36
37

38
39
40

Mutual funds
Money market mutual funds
Government-sponsored enterprises

4.2
90.4
75.8

3.5
102.5
88.4

0.8
128.6
101.1

1.2
121.0
94.3

1.3
139.2
112.0

0.8
134.0
113.8

1.0
121.6
120.2

1.7
115.8
119.1

1.8
117.4
138.2

3.1
130.6
136.3

3.1
137.0
140.3

38
39
40

41
42
43

Finance companies
REITs
Brokers and dealers

165.8
21.1
88.6

184.8
22.0
126.9

186.1
22.5
228.2

165.4
22.8
222.6

166.2
22.2
201.4

179.1
22.8
210.3

190.4
22.6
130.9

195.2
23.5
137.6

229.6
24.1
143.8

281.6
25.0
136.1

295.8
28.8
162.1

41
42
43

-2334.1

-3397.9

-3754.8

-3662.5

-3718.2

-3602.1

-3643.1

-3719.1

-3669.2

-3453.5

-3570.9

44

44

Discrepancy