September 16, 2002

Flow of Funds Accounts
of the United States
Annual Flows and Outstandings

1995-2001

Board of Governors of the Federal Reserve System, Washington D.C. 20551

Table of Contents

Flows
Table
Page

Levels
Table
Page

Total Net Borrowing and Lending in Credit Markets

F.1

1

L.1

50

Credit Market Borrowing by Nonfinancial Sectors

F.2

2

L.2

51

Credit Market Borrowing by Financial Sectors

F.3

2

L.3

51

Credit Market Borrowing, All Sectors, by Instrument

F.4

3

L.4

52

Total Liabilities and Its Relation to Total Financial Assets

F.5

3

L.5

52

Distribution of Gross Domestic Product

F.6

4

Distribution of National Income

F.7

5

Gross Saving and Investment

F.8

6

Net Capital Transfers

F.9

6

Derivation of Measures of Personal Saving

F.10

7

L.10

53

Households and Nonprofit Organizations

F.100

8

L.100

54

Nonfinancial Business

F.101

9

L.101

55

Nonfarm Nonfinancial Corporate Business

F.102

10

L.102

56

Nonfarm Noncorporate Business

F.103

11

L.103

57

Farm Business

F.104

11

L.104

57

State and Local Governments

F.105

12

L.105

58

Federal Government

F.106

13

L.106

58

Title

Summaries

Sectors

Title

Flows
Table
Page

Levels
Table
Page

Rest of the World

F.107

14

L.107

59

Monetary Authority

F.108

15

L.108

60

Commercial Banking

F.109

16

L.109

61

U.S.-Chartered Commercial Banks

F.110

17

L.110

62

Foreign Banking Offices in U.S.

F.111

18

L.111

63

Bank Holding Companies

F.112

19

L.112

64

Banks in U.S.-Affiliated Areas

F.113

19

L.113

64

Savings Institutions

F.114

20

L.114

65

Credit Unions

F.115

21

L.115

66

Bank Personal Trusts and Estates

F.116

21

L.116

66

Life Insurance Companies

F.117

22

L.117

67

Other Insurance Companies

F.118

22

L.118

67

Private Pension Funds

F.119

23

L.119

68

State and Local Government Employee Retirement Funds

F.120

23

L.120

68

Money Market Mutual Funds

F.121

24

L.121

69

Mutual Funds

F.122

24

L.122

69

Closed-End and Exchange-Traded Funds

F.123

24

L.123

69

Government-Sponsored Enterprises

F.124

25

L.124

70

Federally Related Mortgage Pools

F.125

25

L.125

70

Issuers of Asset Backed Securities

F.126

26

L.126

71

Finance Companies

F.127

26

L.127

71

Mortgage Companies

F.128

27

L.128

72

Real Estate Investment Trusts

F.129

27

L.129

72

Security Brokers and Dealers

F.130

28

L.130

73

Funding Corporations

F.131

28

L.131

73

Flows
Table
Page

Levels
Table
Page

Gold and Official Foreign Exchange Holdings

F.200

29

L.200

74

SDR Certificates and Treasury Currency

F.201

29

L.201

74

U.S. Deposits in Foreign Countries

F.202

29

L.202

74

Net Interbank Transactions

F.203

30

L.203

75

Checkable Deposits and Currency

F.204

31

L.204

76

Time and Savings Deposits

F.205

32

L.205

77

Money Market Mutual Fund Shares

F.206

32

L.206

77

Federal Funds and Security Repurchase Agreements

F.207

33

L.207

78

Open Market Paper

F.208

33

L.208

78

Treasury Securities

F.209

34

L.209

79

Agency Securities

F.210

35

L.210

80

Municipal Securities and Loans

F.211

36

L.211

81

Corporate and Foreign Bonds

F.212

36

L.212

81

Corporate Equities

F.213

37

L.213

82

Mutual Fund Shares

F.214

37

L.214

82

Bank Loans Not Elsewhere Classified

F.215

38

L.215

83

Other Loans and Advances

F.216

39

L.216

84

Total Mortgages

F.217

40

L.217

85

Home Mortgages

F.218

41

L.218

86

Multifamily Residential Mortgages

F.219

41

L.219

86

Commercial Mortgages

F.220

42

L.220

87

Farm Mortgages

F.221

42

L.221

87

F.222

43

L.222

88

Title

Instruments

Consumer Credit

Title

Flows
Table
Page

Levels
Table
Page

Trade Credit

F.223

43

L.223

88

Security Credit

F.224

43

L.224

88

Life Insurance and Pension Fund Reserves

F.225

44

L.225

89

Taxes Payable by Businesses

F.226

44

L.226

89

Investment in Bank Personal Trusts

F.227

44

L.227

89

Proprietors’ Equity in Noncorporate Business

F.228

44

Total Miscellaneous Financial Claims

F.229

45

L.229

90

Identified Miscellaneous Financial Claims - Part I

F.230

46

L.230

91

Identified Miscellaneous Financial Claims - Part II

F.231

47

L.231

92

Unidentified Miscellaneous Financial Claims

F.232

48

L.232

93

Sector Discrepancies

F.11

49

Instrument Discrepancies

F.12

49

Title

Balance
Sheet
Table
Page

Table

Households and Nonprofit Organization

B.100

94

R.100

97

Nonfarm Nonfinancial Corporate Business

B.102

95

R.102

98

Nonfarm Noncorporate Business

B.103

96

R.103

99

Reconciliation
Page

Balance Sheet, Reconciliation, and
Supplementary Tables

Consolidated Statement for Federal, State, and Local Governments F.106.c

100

L.106.c

101

Private Pension Funds: Defined Benefit Plans

F.119.b

102

L.119.b

103

Private Pension Funds: Defined Contribution Plans

F.119.c

102

L.119.c

103

Individual Retirement Accounts (IRAs)

F.225.i

102

L.225.i

103

B.100.e

104

Balance Sheet of Households and Nonprofit Organizations
with Equity Detail

FFA, 1995-2001, September 16, 2002

1

F.1 Total Net Borrowing and Lending in Credit Markets (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates

1
2

Total net borrowing
Domestic nonfinancial sectors

1995

1996

1997

1238.4

1371.7

1538.5

705.8

733.3

804.4

1998

1999

2000

2001

2172.8

2178.0

1741.3

2020.7

1

1042.4

1068.5

860.2

1107.8

2
3

3

Federal government

144.4

144.9

23.1

-52.6

-71.2

-295.9

-5.6

4

Nonfederal sectors

561.4

588.3

781.3

1095.0

1139.7

1156.1

1113.3

4

337.0
227.1
46.1
2.7
-51.5

339.8
183.1
67.3
4.9
-6.8

332.7
291.6
94.7
6.2
56.1

454.8
392.1
159.7
8.0
80.3

498.0
401.6
182.4
5.5
52.3

541.0
406.3
170.7
10.9
27.2

610.3
235.5
156.8
7.5
103.2

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

78.5

88.4

71.8

43.2

25.2

65.7

-37.4

10

11

Financial sectors

454.0

550.1

662.2

1087.2

1084.4

815.4

950.4

11

12
13
14
15

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

22.5
11.2
-3.1
14.4

13.0
11.7
-0.7
2.0

46.1
29.5
-2.4
19.0

72.9
52.8
-4.8
24.9

67.2
41.8
-0.4
25.8

60.0
36.8
-0.0
23.2

52.9
30.2
-0.9
23.6

12
13
14
15

16
17

Savings institutions
Credit unions

2.6
-0.1

25.5
0.1

19.7
0.1

52.2
0.6

48.0
2.2

27.3
0.0

7.4
1.5

16
17

18
19
20
21

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

-0.1
105.9
98.3
142.4

1.1
90.4
141.0
150.8

0.2
98.4
114.6
202.2

0.7
278.3
192.6
321.4

0.7
318.2
273.8
223.4

-0.7
234.1
199.4
196.2

0.6
290.8
338.5
309.4

18
19
20
21

22
23
24
25
26

Finance companies
Mortgage companies
REITs
Brokers and dealers
Funding corporations

50.2
-2.2
4.5
-5.0
34.9

50.6
4.1
11.9
-2.0
63.8

57.8
-4.6
39.6
8.1
79.9

57.1
1.6
62.7
7.2
40.0

70.3
0.2
6.3
-17.2
91.5

81.2
0.1
2.7
15.6
-0.4

-0.2
0.7
2.5
1.4
-55.2

22
23
24
25
26

1238.4

1371.7

1538.5

2172.8

2178.0

1741.3

2020.7

27

-52.2

108.8

29.5

255.0

265.1

-108.7

-74.4

28

44.1
-8.8
3.8
-91.4

148.7
-10.2
4.0
-33.7

39.4
-12.7
2.6
0.1

123.2
-16.0
13.3
134.5

255.3
-15.6
-3.0
28.4

-111.7
5.0
-1.2
-0.8

-95.9
-18.8
2.2
38.1

29
30
31
32

-0.5
246.8

-7.2
379.6

5.1
259.6

13.5
172.5

5.8
139.7

7.3
225.9

6.0
320.6

33
34

1044.3

890.6

1244.3

1731.9

1767.5

1616.8

1768.6

35

12.7

12.3

38.3

21.1

25.7

33.7

39.9

36

265.9
186.5
75.4
-0.3
4.2

187.5
119.6
63.3
3.9
0.7

324.3
274.9
40.2
5.4
3.7

305.6
312.1
-11.6
-0.9
6.0

312.2
318.6
-17.0
6.2
4.4

357.9
339.5
23.9
-12.2
6.7

205.2
191.6
-0.6
4.2
10.0

37
38
39
40
41

-7.6
16.2
-8.3

19.9
25.5
-7.7

-4.7
16.8
-25.0

36.2
18.9
-12.8

67.7
27.5
27.8

56.2
28.0
17.1

42.8
41.5
10.4

42
43
44

27
28
29
30
31
32

Total net lending
Domestic nonfederal nonfinancial sectors
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
State and local governments

33
34

Federal government
Rest of the world

35

Financial sectors

36

Monetary authority

37
38
39
40
41

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

42
43
44

Savings institutions
Credit unions
Bank personal trusts and estates

45
46
47
48

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

100.0
21.5
19.9
38.3

69.6
22.5
-4.1
35.8

104.8
25.2
47.6
67.1

76.9
5.8
-23.4
72.1

53.5
-3.0
17.0
46.9

57.9
-8.7
33.4
54.6

130.9
9.0
20.3
-17.7

45
46
47
48

49
50
51
52
53
54

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

86.5
52.5
10.2
95.3
98.3
120.6

88.8
48.9
4.6
97.1
141.0
120.5

87.5
80.9
-2.5
106.3
114.6
163.8

244.0
127.3
5.5
314.0
192.6
281.7

182.0
48.4
7.4
291.3
273.8
205.2

143.0
21.0
-4.7
256.4
199.4
166.4

246.0
126.0
-1.7
309.0
338.5
283.3

49
50
51
52
53
54

55
56
57
58
59

Finance companies
Mortgage companies
REITs
Brokers and dealers
Funding corporations

49.9
-3.4
1.4
90.1
-15.7

18.9
8.2
4.4
-15.7
12.6

23.1
-9.1
20.2
14.9
50.4

77.3
3.2
-5.1
6.8
-15.8

97.0
0.3
-2.6
-34.7
124.0

108.0
0.2
-6.3
68.9
34.4

-5.7
1.4
6.7
92.4
-109.6

55
56
57
58
59

(1) Excludes corporate equities and mutual fund shares.

2

FFA, 1995-2001, September 16, 2002

F.2 Credit Market Borrowing by Nonfinancial Sectors
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23

Domestic

1996

1997

1998

1999

2000

2001

705.8

733.3

804.4

1042.4

1068.5

860.2

1107.8

1

Federal government
Treasury securities
Budget agency securities and mortgages

144.4
142.9
1.5

144.9
146.6
-1.6

23.1
23.2
-0.1

-52.6
-54.6
2.0

-71.2
-71.0
-0.2

-295.9
-294.9
-1.0

-5.6
-5.0
-0.5

2
3
4

Nonfederal, by instrument
Commercial paper
Municipal securities and loans
Corporate bonds
Bank loans n.e.c.
Other loans and advances

561.4
18.1
-48.2
91.1
103.7
67.2

588.3
-0.9
2.6
116.3
70.4
28.7

781.3
13.7
71.4
150.5
106.4
59.5

1095.0
24.4
96.8
218.7
108.2
82.1

1139.7
37.4
68.2
229.9
82.8
57.1

1156.1
48.1
35.3
171.1
101.7
101.5

1113.3
-88.3
117.6
332.6
-82.3
19.2

5
6
7
8
9
10

190.5
176.8
4.6
7.7
1.4
138.9

280.1
241.7
9.8
25.8
2.7
91.3

322.3
258.3
7.3
53.5
3.1
57.5

489.8
387.7
23.4
72.2
6.5
75.0

564.9
424.6
35.7
98.8
5.8
99.5

559.4
413.5
35.2
104.2
6.5
139.0

704.3
530.1
47.9
118.9
7.5
110.2

11
12
13
14
15
16

561.4
337.0
275.9
227.1
46.1
2.7
-51.5

588.3
339.8
255.3
183.1
67.3
4.9
-6.8

781.3
332.7
392.5
291.6
94.7
6.2
56.1

1095.0
454.8
559.9
392.1
159.7
8.0
80.3

1139.7
498.0
589.4
401.6
182.4
5.5
52.3

1156.1
541.0
587.9
406.3
170.7
10.9
27.2

1113.3
610.3
399.8
235.5
156.8
7.5
103.2

17
18
19
20
21
22
23

Mortgages
Home
Multifamily residential
Commercial
Farm
Consumer credit
Nonfederal, by sector
Household sector
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local governments

24

Foreign borrowing in U.S.

78.5

88.4

71.8

43.2

25.2

65.7

-37.4

24

25
26
27
28

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

13.5
57.1
8.5
-0.5

11.3
67.0
9.1
1.0

3.7
61.4
8.5
-1.8

7.8
34.9
6.6
-6.0

16.3
14.1
0.5
-5.7

31.7
23.9
11.4
-1.3

-14.2
-12.1
-7.3
-3.8

25
26
27
28

784.4

821.7

876.2

1085.6

1093.7

925.9

1070.3

29

29

Domestic and foreign

F.3 Credit Market Borrowing by Financial Sectors
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
2
3
4
5
6
7
8
9
10
11
12

By instrument

454.0

550.1

662.2

1087.2

1084.4

815.4

950.4

1

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

204.2
105.9
98.3
0.0

231.4
90.4
141.0
0.0

212.9
98.4
114.6
0.0

470.9
278.3
192.6
0.0

592.0
318.2
273.8
0.0

433.5
234.1
199.4
0.0

629.3
290.8
338.5
0.0

2
3
4
5

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

249.8
42.7
195.9
2.5
3.4
5.3

318.7
92.2
178.1
12.6
27.9
7.9

449.3
166.7
218.9
13.3
35.6
14.9

616.3
161.0
310.2
30.1
90.2
24.8

492.4
176.2
218.2
-14.2
107.1
5.1

382.0
127.7
205.8
-0.2
42.5
6.2

321.0
-61.9
332.9
13.8
34.9
1.3

6
7
8
9
10
11

454.0

550.1

662.2

1087.2

1084.4

815.4

950.4

12

By sector

13
14
15
16

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

22.5
11.2
-3.1
14.4

13.0
11.7
-0.7
2.0

46.1
29.5
-2.4
19.0

72.9
52.8
-4.8
24.9

67.2
41.8
-0.4
25.8

60.0
36.8
-0.0
23.2

52.9
30.2
-0.9
23.6

13
14
15
16

17
18

Savings institutions
Credit unions

2.6
-0.1

25.5
0.1

19.7
0.1

52.2
0.6

48.0
2.2

27.3
0.0

7.4
1.5

17
18

19
20
21
22

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

-0.1
105.9
98.3
142.4

1.1
90.4
141.0
150.8

0.2
98.4
114.6
202.2

0.7
278.3
192.6
321.4

0.7
318.2
273.8
223.4

-0.7
234.1
199.4
196.2

0.6
290.8
338.5
309.4

19
20
21
22

23
24
25
26
27

Finance companies
Mortgage companies
REITs
Brokers and dealers
Funding corporations

50.2
-2.2
4.5
-5.0
34.9

50.6
4.1
11.9
-2.0
63.8

57.8
-4.6
39.6
8.1
79.9

57.1
1.6
62.7
7.2
40.0

70.3
0.2
6.3
-17.2
91.5

81.2
0.1
2.7
15.6
-0.4

-0.2
0.7
2.5
1.4
-55.2

23
24
25
26
27

FFA, 1995-2001, September 16, 2002

3

F.4 Credit Market Borrowing, All Sectors, by Instrument
Billions of dollars; quarterly figures are seasonally adjusted annual rates

1

Total

1995

1996

1997

1998

1999

2000

2001

1238.4

1371.7

1538.5

2172.8

2178.0

1741.3

2020.7

1

2
3
4
5

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

74.3
348.6
-48.2
344.1

102.6
376.3
2.6
361.3

184.1
236.0
71.4
430.8

193.1
418.3
96.8
563.7

229.9
520.7
68.2
462.2

207.6
137.6
35.3
400.8

-164.4
623.8
117.6
653.4

2
3
4
5

6
7
8
9

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

114.7
70.1
195.9
138.9

92.1
57.7
287.9
91.3

128.2
93.2
337.2
57.5

145.0
166.3
514.6
75.0

69.0
158.5
570.0
99.5

112.8
142.7
565.6
139.0

-75.8
50.3
705.6
110.2

6
7
8
9

147.2

232.9

185.3

113.7

156.9

197.2

276.9

10

-0.2
-58.3

-4.7
-69.5

-79.9
-114.4

-165.8
-267.0

-34.3
-143.5

-37.8
-159.7

75.5
-61.8

11
12

65.4
-7.3
147.4

82.8
-18.1
237.6

57.6
-23.0
265.1

101.3
-0.1
279.5

114.3
-5.1
191.2

103.6
18.3
235.0

106.8
30.5
201.4

13
14
15

Memo:
Funds raised through corporate equities and mutual fund shares
10
11
12
13
14
15

Total net issues
Corporate equities
Nonfinancial
Foreign shares purchased by
U.S. residents
Financial
Mutual fund shares

F.5 Net Increase in Liabilities and Its Relation to Net Acquisition of Financial Assets
Billions of dollars; quarterly figures are seasonally adjusted annual rates

1
2
3
4
5

Net flows through credit markets
(from table F.4, line 1)
Official foreign exchange
SDR certificates
Treasury currency
Foreign deposits

1238.4

1371.7

1538.5

2172.8

2178.0

1741.3

2020.7

1

8.8
2.2
0.7
35.3

-6.3
-0.5
0.5
85.9

0.7
-0.5
0.5
107.7

6.6
0.0
0.6
6.5

-8.7
-3.0
1.0
61.0

-0.4
-4.0
2.4
135.1

4.3
0.0
-0.0
28.0

2
3
4
5

6
7
8
9
10

Net interbank transactions
Checkable deposits and currency
Small time and savings deposits
Large time deposits
Money market fund shares

10.0
-12.8
96.6
65.6
141.2

-51.6
15.7
97.2
114.0
145.4

-19.7
41.2
97.1
122.5
155.9

-31.8
47.3
152.4
91.8
287.2

15.0
151.2
45.1
131.1
249.1

15.1
-71.4
188.8
116.2
233.3

-31.7
202.6
267.2
68.6
428.6

6
7
8
9
10

11
12
13
14

Security RPs
Corporate equities
Mutual fund shares
Trade payables

110.5
-0.2
147.4
133.7

41.4
-4.7
237.6
123.3

120.9
-79.9
265.1
139.8

91.3
-165.8
279.5
106.4

169.8
-34.3
191.2
268.6

113.2
-37.8
235.0
170.2

24.0
75.5
201.4
-19.3

11
12
13
14

15
16
17
18

Security credit
Life insurance reserves
Pension fund reserves
Taxes payable

26.7
45.8
158.8
7.8

52.4
44.5
148.3
19.5

111.0
59.3
201.4
22.3

103.2
48.0
217.4
19.6

104.4
50.8
181.8
23.2

146.1
50.2
209.0
21.7

3.1
77.2
209.1
14.3

15
16
17
18

19
20
21

Investment in bank personal trusts
Noncorporate proprietors’ equity
Miscellaneous

6.4
31.5
494.7

-5.3
5.5
522.4

-49.9
-40.7
493.8

-41.8
-57.8
956.9

-6.5
-38.7
1042.7

-29.7
-10.2
1155.4

-26.3
-23.1
682.1

19
20
21

2749.0

2957.1

3287.1

4290.1

4772.9

4379.6

4206.3

22

-0.3
25.0
-3.1

-0.4
59.4
-3.3

-0.2
106.2
-19.9

-0.1
-8.5
3.8

-0.7
42.6
0.1

-1.2
55.9
20.4

-1.4
10.3
17.2

23
24
25

25.7
21.1
-200.0

2.4
23.1
-177.4

63.2
28.0
-248.3

57.7
19.7
-158.9

35.7
11.7
-301.4

118.6
26.2
-404.9

-52.2
19.1
-209.2

26
27
28

-6.0
-3.8
16.4

0.5
-4.0
-25.7

-2.7
-3.9
-25.5

2.6
-3.1
-43.3

-7.4
-0.8
2.8

9.0
1.7
26.1

3.9
4.5
16.3

29
30
31

2874.2

3082.7

3390.1

4420.3

4990.3

4527.9

4397.7

32

22

Total financial sources

23
24
25

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

26
27
28

Security RPs
Taxes payable
Miscellaneous

29
30
31

- Floats not included in assets:
Checkable deposits: Federal govt.
Other
Trade credit

32

Totals identified to sectors
as assets

4

FFA, 1995-2001, September 16, 2002

F.6 Distribution of Gross Domestic Product (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates

1
2
3
4
5
6
7

Gross Domestic Product (GDP)
Personal consumption expenditures (2)
Durable goods
Nondurable goods
Services
Gross private domestic investment
Fixed investment

1995

1996

1997

1998

1999

2000

2001

7400.5

7813.2

8318.4

8781.6

9274.4

9824.7

10082.2

1

4969.0

5237.5

5529.3

5856.0

6246.5

6683.8

6987.0

2

589.7
1497.3
2882.0

616.5
1574.1
3047.0

642.5
1641.6
3245.2

693.2
1708.5
3454.3

755.9
1830.1
3660.5

803.9
1973.0
3906.9

835.9
2041.3
4109.9

3
4
5

1143.8

1242.7

1390.5

1538.8

1636.8

1755.4

1586.0

6

1110.7

1212.7

1327.7

1465.6

1577.2

1691.8

1646.3

7

8
9
10
11
12
13

Nonresidential
Household sector (nonprofit organizations)
Nonfinancial corporate business
Nonfarm noncorporate business
Farm business
Financial corporations

825.1
41.2
588.3
89.8
22.4
83.4

899.5
43.6
634.4
94.6
23.8
103.0

999.4
54.3
691.8
79.5
27.5
146.2

1101.3
59.9
751.0
84.5
29.4
176.4

1173.5
60.1
822.1
130.0
25.4
135.9

1265.8
65.8
890.7
150.8
28.1
130.5

1201.6
66.8
849.4
136.0
30.0
119.4

8
9
10
11
12
13

14
15
16
17
18

Residential
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
REITs

285.6
240.4
2.3
40.2
2.7

313.3
263.0
2.4
43.4
4.4

328.3
275.0
2.7
39.3
11.3

364.4
310.8
2.7
39.4
11.4

403.7
341.8
3.2
57.1
1.6

426.1
359.5
3.4
63.0
0.1

444.8
380.7
3.4
60.1
0.6

14
15
16
17
18

33.1
40.1
2.1
-9.2

30.0
21.0
1.1
7.9

62.9
57.0
3.0
2.9

73.1
68.6
3.6
0.9

59.6
58.0
3.1
-1.5

63.5
62.5
3.3
-2.2

-60.3
-58.9
-3.1
1.6

19
20
21
22

19
20
21
22

Change in private inventories
Nonfinancial corporate business
Nonfarm noncorporate business
Farm business

23

Net U.S. exports of goods and services

-84.3

-89.0

-89.4

-151.7

-249.9

-365.5

-348.9

23

24
25

Exports
- Imports

818.6
902.8

874.2
963.1

966.4
1055.8

964.9
1116.7

989.4
1239.2

1101.2
1466.6

1034.2
1383.0

24
25

26

Government consumption expenditures and
gross investment

1372.1

1422.0

1488.0

1538.5

1641.0

1751.0

1858.1

26

1133.9
439.2
694.7

1171.8
445.3
726.5

1223.3
456.9
766.5

1261.4
453.1
808.3

1336.3
471.6
864.7

1431.2
493.3
937.9

1522.2
528.4
993.8

27
28
29

238.2
82.3
155.8

250.2
86.3
163.8

264.7
81.4
183.3

277.1
86.1
191.0

304.7
93.4
211.3

319.8
95.9
223.9

335.9
99.7
236.2

30
31
32

20.3
232.3
211.9

18.1
245.6
227.5

7.1
281.3
274.3

-3.5
286.1
289.6

22.7
316.8
294.1

23.4
383.4
360.0

22.0
316.9
295.0

33
34
35

7420.9

7831.3

8325.5

8778.2

9297.1

9848.1

10104.1

36

27
28
29

Consumption expenditures (3)
Federal
State and local

30
31
32

Gross investment (3)
Federal
State and local
Memo:

33
34
35

Net U.S. income receipts from rest of the world
U.S. income receipts
- U.S. income payments

36

Gross National Product (GNP) =
GDP + net U.S. income receipts

(1) This table corresponds to NIPA table 1.1 in the Survey of Current Business, Department of Commerce.
(2) Component of personal outlays, found on table F.100, line 4.
(3) Government inventory investment is included in consumption expenditures.

FFA, 1995-2001, September 16, 2002

5

F.7 Distribution of National Income (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1
2
3
4
5

National Income
Compensation of employees
Wages and other labor income
Employer social insurance contributions
Wage accruals less disbursements

9

Proprietors’ income with inventory
valuation and capital consumption adjustments
Nonfarm
Farm
Rental income of persons (with capital
consumption adjustment)

10

Corporate profits with inventory
valuation and capital consumption adjustments

6
7
8

11

Corporate profits with inventory
valuation adjustment

1996

1997

1998

1999

2000

2001

5876.8

6210.2

6618.5

7041.6

7468.8

7984.4

8122.0

1

4202.5
3921.6
264.5
16.4

4395.4
4116.4
275.4
3.6

4651.3
4364.3
290.0
-2.9

4989.8
4683.5
307.0
-0.7

5308.9
4980.7
323.0
5.2

5723.4
5380.5
342.9
0.0

5874.9
5521.0
353.9
0.0

2
3
4
5

497.7
475.5
22.2

544.8
510.5
34.3

581.2
551.5
29.7

623.8
598.2
25.6

678.4
650.7
27.7

714.8
692.3
22.6

727.9
708.8
19.1

6
7
8

118.0

129.7

128.4

138.6

149.2

146.6

137.9

9

668.8

754.0

833.8

777.5

805.8

788.1

731.6

10

650.2

729.4

800.9

739.5

757.9

767.3

675.1

11

12
13
14
15
16

Profits before tax
Domestic nonfinancial
Farm
Foreign subsidiaries
Financial

668.5
421.6
0.6
92.0
154.3

726.4
458.8
1.4
100.9
165.3

792.4
494.5
1.6
110.7
185.7

721.1
460.1
0.3
102.3
158.5

762.1
458.9
1.3
120.3
181.7

782.3
436.0
1.9
143.3
201.0

670.2
326.9
1.8
150.8
190.7

12
13
14
15
16

17
18
19
20

Less:
Profits tax liability
Domestic nonfinancial
Farm
Financial

211.0
136.3
0.4
74.2

223.7
149.6
0.5
73.6

237.2
157.9
0.5
78.9

238.9
154.2
0.4
84.3

247.8
166.4
0.5
80.9

259.4
171.9
0.5
86.9

199.3
123.0
0.5
75.8

17
18
19
20

21
22
23
24
25
26

Equals:
Profits after tax
Dividends
Domestic nonfinancial
Farm
Foreign subsidiaries
Financial

457.5
254.2
178.3
1.1
32.6
42.3

502.7
297.7
200.9
1.0
40.4
55.4

555.2
335.2
216.4
1.7
51.4
65.8

482.3
348.7
240.8
1.4
39.5
67.0

514.3
328.4
237.3
1.9
28.8
60.4

522.9
376.1
258.0
1.7
26.6
89.8

470.9
409.6
277.0
1.5
26.5
104.6

21
22
23
24
25
26

27
28
29
30
31

Undistributed profits
Domestic nonfinancial
Farm
Foreign subsidiaries
Financial

203.3
107.0
-1.0
59.5
37.8

205.0
108.3
-0.1
60.5
36.4

220.0
120.2
-0.6
59.3
41.0

133.6
65.1
-1.6
62.8
7.3

185.9
55.2
-1.1
91.5
40.5

146.8
6.1
-0.2
116.7
24.2

61.3
-73.0
-0.2
124.3
10.2

27
28
29
30
31

32

Inventory valuation adjustment

-18.3

3.1

8.5

18.4

-4.2

-15.0

5.0

32

33
34
35
36

Capital consumption adjustment
Domestic nonfinancial
Farm
Financial

18.6
37.5
1.2
-20.1

24.6
44.7
1.1
-21.2

32.9
50.0
1.1
-18.2

38.0
50.8
1.1
-13.9

47.9
61.4
1.1
-14.7

20.8
37.6
1.3
-18.1

56.5
72.2
1.5
-17.2

33
34
35
36

389.8

386.3

423.9

511.9

526.6

611.5

649.8

37

5876.8

6210.2

6618.5

7041.6

7468.8

7984.4

8122.0

38

37

Net interest
Memo:
Calculation of Gross Domestic Product
from National Income: (2)

38

National Income, from line 1 above

39
40
41
42
43
44

Plus:
Business transfer payments to persons
Business transfer payments to rest of the world
Indirect business tax and nontax accruals
Private consumption of fixed capital
Government consumption of fixed capital
Statistical discrepancy

25.8
7.7
594.6
743.6
168.2
26.4

26.4
8.1
620.0
782.0
174.3
33.0

27.9
8.9
646.2
832.4
181.0
29.7

28.7
9.3
681.3
884.3
187.7
-31.1

31.3
10.2
713.0
947.3
197.9
-38.8

33.1
10.6
753.6
1018.0
210.9
-128.4

33.4
9.1
774.8
1106.8
222.5
-117.2

39
40
41
42
43
44

45
46

Less:
Subsidies less current surplus of
government enterprises
Net U.S. income receipts from rest of the world

22.2
20.3

22.6
18.1

19.1
7.1

23.6
-3.5

32.5
22.7

34.1
23.4

47.2
22.0

45
46

47

Equals:
Gross Domestic Product

7400.5

7813.2

8318.4

8781.6

9274.4

9824.7

10082.2

47

(1) This table corresponds to NIPA table 1.14 in the Survey of Current Business, Department of Commerce.
(2) The relationship of National Income to Gross Domestic Product is shown on NIPA table 1.9 in the Survey of Current Business, Department of Commerce.

6

FFA, 1995-2001, September 16, 2002

F.8 Gross Saving and Investment (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates

1
2
3
4
5
6
7
8
9
10
11

1995

1996

1997

1998

1999

2000

2001

1257.6

1349.1

1502.3

1647.3

1704.3

1807.8

1662.4

1

1266.0

1290.3

1343.8

1375.1

1356.1

1372.1

1399.3

2

Personal saving

302.4

272.1

252.9

301.5

174.1

201.5

169.8

3

Undistributed corporate profits
Nonfinancial corp. inventory valuation adjustment
Corporate capital consumption adjustment
Private consumption of fixed capital
Corporate
Noncorporate
Wage accruals less disbursements

203.3
-18.3
18.6
743.6
512.2
231.5
16.4

205.0
3.1
24.6
782.0
543.5
238.5
3.6

220.0
8.5
32.9
832.4
581.6
250.9
-2.9

133.6
18.4
38.0
884.3
620.2
264.2
-0.7

185.9
-4.2
47.9
947.3
665.5
281.9
5.2

146.8
-15.0
20.8
1018.0
721.1
296.9
0.0

61.3
5.0
56.5
1106.8
789.1
317.7
0.0

4
5
6
7
8
9
10

Gross saving
Gross private saving

-8.5

58.8

158.6

272.3

348.1

435.7

263.1

11

12
13
14

Federal
Consumption of fixed capital
Current surplus or deficit (-), NIPA

-108.0
84.0
-192.0

-51.6
85.3
-136.9

33.4
86.8
-53.4

132.0
88.2
43.8

203.5
91.5
112.0

302.8
95.9
206.9

170.8
98.8
72.0

12
13
14

15
16
17

State and local
Consumption of fixed capital
Current surplus or deficit (-), NIPA

99.5
84.2
15.4

110.4
89.0
21.4

125.1
94.2
31.0

140.2
99.5
40.8

144.6
106.4
38.3

132.9
115.0
17.9

92.4
123.7
-31.4

15
16
17

1284.0

1382.2

1532.1

1616.2

1665.5

1679.5

1545.2

18

1143.8

1242.7

1390.5

1538.8

1636.8

1755.4

1586.0

19

18
19

Gross government saving

Gross investment
Gross private domestic investment

20

Fixed investment

1110.7

1212.7

1327.7

1465.6

1577.2

1691.8

1646.3

20

21
22

Nonresidential
Residential

825.1
285.6

899.5
313.3

999.4
328.3

1101.3
364.4

1173.5
403.7

1265.8
426.1

1201.6
444.8

21
22

23

Change in private inventories

33.1

30.0

62.9

73.1

59.6

63.5

-60.3

23

24

Gross government investment

238.2

250.2

264.7

277.1

304.7

319.8

335.9

24

25

Net foreign investment in U.S.

-97.9

-110.7

-123.1

-199.7

-276.0

-395.7

-376.7

25

26.4

33.0

29.7

-31.1

-38.8

-128.4

-117.2

26

26

Statistical discrepancy (line 18 less line 1)

(1) This table corresponds to NIPA table 5.1 in the Survey of Current Business, Department of Commerce.

F.9 Net Capital Transfers (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

Capital transfers received by government (net)

19.6

23.1

26.8

32.4

32.4

35.9

35.4

1

-12.8

-10.7

-8.4

-3.6

-7.4

-8.0

-12.9

2

2

Federal

3
4
5
6

Estate and gift taxes paid by persons
- Capital transfers paid to the rest of the world (net)
- Federal investment grants to state and local govts.
- Investment grants to business

14.9
0.4
27.2
0.0

17.5
0.0
28.1
0.0

20.6
0.2
28.8
0.0

25.2
0.0
28.8
0.0

28.8
4.2
31.9
0.0

28.1
0.0
36.1
0.0

27.9
0.0
40.8
0.0

3
4
5
6

7

State and local

32.3

33.8

35.3

36.0

39.7

43.9

48.3

7

8
9

Estate and gift taxes paid by persons
+ Federal investment grants to state and local govts.

5.1
27.2

5.6
28.1

6.5
28.8

7.2
28.8

7.8
31.9

7.8
36.1

7.5
40.8

8
9

10

Capital transfers received by the rest of the world (net)

0.3

-0.1

-0.4

-0.7

3.4

-0.8

-0.8

10

11
12

Capital transfers received from U.S. government (net)
- Immigrants’ transfers received by persons (net)

0.4
0.1

0.0
0.1

0.2
0.6

0.0
0.7

4.2
0.8

0.0
0.8

0.0
0.8

11
12

(1) This table corresponds to NIPA table 8.29 in the Survey of Current Business, Department of Commerce.

FFA, 1995-2001, September 16, 2002

7

F.10 Derivation of Measures of Personal Saving (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1

Net acquisition of financial assets

543.7

634.7

610.9

891.5

714.3

549.5

710.3

1

2
3
4
5

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

4.6
-27.1
131.4
99.6

12.4
-53.9
156.9
52.7

6.5
-11.3
142.6
83.5

0.1
6.6
175.6
174.5

5.2
-18.7
78.8
134.5

15.0
-3.2
286.0
142.7

-5.0
40.2
221.0
177.7

2
3
4
5

6

Securities

30.5

157.0

10.7

73.1

85.1

-370.2

-150.8

6

1.3
5.5
-44.2
93.5
-91.6
66.0

6.7
81.6
-21.8
87.6
-192.5
195.5

1.5
-112.6
53.0
101.8
-292.5
259.6

7.5
-6.6
17.8
108.9
-335.2
280.7

4.1
165.8
37.7
46.8
-327.4
158.2

4.9
-133.7
25.1
-13.3
-490.6
237.4

-19.4
-169.6
48.1
43.0
-266.9
214.0

7
8
9
10
11
12

45.8
158.8

44.5
148.3

59.3
201.4

48.0
217.4

50.8
181.8

50.2
209.0

77.2
209.1

13
14

7
8
9
10
11
12

Open market paper
U.S. government securities
Municipal securities
Corporate and foreign bonds
Corporate equities (2)
Mutual fund shares

13
14

Life insurance reserves
Pension fund reserves

15
16

Investment in bank personal trusts
Miscellaneous and other assets

6.4
93.7

-5.3
122.1

-49.9
168.1

-41.8
238.0

-6.5
203.4

-29.7
249.7

-26.3
167.3

15
16

17
18
19
20
21

Gross investment in tangible assets
Residential fixed investment
Other fixed assets (3)
Consumer durables
Inventories (3)

1020.2
280.6
153.4
593.3
-7.1

1076.9
306.4
162.0
599.4
9.0

1133.0
314.2
161.4
651.5
5.9

1241.0
350.2
173.8
712.4
4.5

1366.9
398.9
215.5
751.0
1.6

1473.6
422.5
244.6
805.4
1.1

1535.4
440.8
232.8
863.3
-1.5

17
18
19
20
21

22
23
24
25

Consumption of fixed capital
Residential fixed investment
Other fixed assets (3)
Consumer durables

701.3
126.0
119.0
456.3

725.4
132.1
122.2
471.1

756.9
140.1
129.8
487.0

790.6
146.9
137.9
505.8

833.5
159.4
144.2
529.9

882.7
166.9
152.8
563.0

934.4
181.2
160.1
593.2

22
23
24
25

26

Net investment in tangible assets (4)

318.9

351.5

376.2

450.3

533.4

590.9

601.0

26

154.7
34.4
136.9
-7.1

174.4
39.9
128.3
9.0

174.1
31.6
164.5
5.9

203.3
35.9
206.6
4.5

239.5
71.2
221.1
1.6

255.6
91.8
242.4
1.1

259.6
72.7
270.1
-1.5

27
28
29
30

427.9

503.2

575.8

775.1

891.5

847.4

803.8

31

176.9
5.7
138.9
10.5
3.5
92.3

240.8
29.1
91.3
4.5
15.8
121.6

258.1
31.8
57.5
3.2
36.8
188.4

386.3
86.5
75.0
0.1
21.6
205.7

422.5
108.5
99.5
-5.1
75.2
190.9

411.5
98.0
139.0
2.8
7.2
188.9

528.1
118.1
110.2
2.2
-38.8
83.9

32
33
34
35
36
37

27
28
29
30
31
32
33
34
35
36
37

Residential fixed investment
Other fixed assets (3)
Consumer durables
Inventories (3)
Net increase in liabilities
Mortgage debt on nonfarm homes
Other mortgage debt (3)
Consumer credit
Policy loans
Security credit
Other liabilities (3)

38

Net capital transfers (5)

-19.9

-23.0

-26.4

-31.7

-35.7

-35.1

-34.6

38

39

Personal saving, with consumer durables (FOF)

454.6

506.1

437.7

598.4

392.0

328.0

542.1

39

40

Less net investment in consumer durables

136.9

128.3

164.5

206.6

221.1

242.4

270.1

40

41

= Personal saving, without consumer durables (FOF) (6)

317.7

377.7

273.1

391.8

170.8

85.7

272.0

41

42

Personal saving (NIPA, excludes consumer durables)

302.4

272.1

252.9

301.5

174.1

201.5

169.8

42

43

Difference

15.3

105.6

20.2

90.2

-3.2

-115.9

102.2

43

44

Memo:
Disposable personal income

5422.6

5677.7

5968.2

6355.6

6627.4

7120.2

7393.3

44

45
46
47
48

Personal saving as a percentage of disposable personal income:
With consumer durables (FOF) (line 39)
Without consumer durables (FOF) (line 41)
Without consumer durables (NIPA) (line 42)
Difference (line 43)

8.4
5.9
5.6
0.3

8.9
6.7
4.8
1.9

7.3
4.6
4.2
0.3

9.4
6.2
4.7
1.4

5.9
2.6
2.6
-0.0

4.6
1.2
2.8
-1.6

7.3
3.7
2.3
1.4

45
46
47
48

(1) Consolidated 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 12), life insurance and pension reserves (lines 13 and 14), and bank personal trusts (line 15).
(3) Includes corporate farms.
(4) Line 17 less line 22.
(5) Table F.9, line 12 less lines 3 and 8.
(6) Line 41 and 42 are conceptually equivalent but measure saving using different data. Line 41 is net acquisition of financial assets (line 1) plus net investment in tangible assets net of consumer durables
(line 26 less line 40) less net increase in liabilities (line 31) less net capital transfers (line 38). Line 42 is disposable personal income (line 44) less personal outlays (table F.100, line 4).

8

FFA, 1995-2001, September 16, 2002

F.100 Households and Nonprofit Organizations (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

6200.9
778.4
5422.6
5120.2
302.4

6547.4
869.7
5677.7
5405.6
272.1

6937.0
968.8
5968.2
5715.3
252.9

7426.0
1070.5
6355.6
6054.1
301.5

7786.5
1159.1
6627.4
6453.3
174.1

8406.6
1286.4
7120.2
6918.6
201.5

8685.4
1292.1
7393.3
7223.5
169.8

1
2
3
4
5

1
2
3
4
5

Personal income
- Personal taxes and nontax payments
= Disposable personal income
- Personal outlays
= Personal saving, NIPA (2)

6
7
8
9

+ Government insurance and pension reserves (3)
+ Net investment in consumer durables
+ Consumption of fixed capital
+ Net capital transfers (4)

3.6
136.9
574.1
-19.9

3.4
128.3
592.4
-23.0

3.4
164.5
615.4
-26.4

4.4
206.6
641.9
-31.7

3.8
221.1
675.9
-35.7

1.8
242.4
717.1
-35.1

3.3
270.1
761.3
-34.6

6
7
8
9

10

= Gross saving and net capital transfers

997.2

973.2

1009.8

1122.7

1039.2

1127.7

1169.8

10

11

Gross investment

1008.7

1074.4

1026.1

1209.0

1032.1

1008.9

1267.5

11

12
13
14
15

Capital expenditures
Residential
Consumer durable goods
Nonprofit nonresidential

874.9
240.4
593.3
41.2

906.1
263.0
599.4
43.6

980.8
275.0
651.5
54.3

1083.2
310.8
712.4
59.9

1152.9
341.8
751.0
60.1

1230.7
359.5
805.4
65.8

1310.8
380.7
863.3
66.8

12
13
14
15

16

Net financial investment

133.8

168.3

45.3

125.8

-120.8

-221.7

-43.3

16

17

Net acquisition of financial assets

482.9

532.8

424.0

609.5

458.6

334.4

533.8

17

18
19
20
21

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

4.6
-40.8
127.1
97.7

12.4
-73.2
153.3
50.5

6.5
-33.7
131.9
79.9

0.1
-27.3
166.5
164.9

5.2
-61.2
55.5
126.1

15.0
-23.4
262.0
133.2

-5.0
24.2
200.7
168.0

18
19
20
21

22

Credit market instruments

44.1

148.7

39.4

123.2

255.3

-111.7

-95.9

22

1.3
0.2
-22.5
5.1
-27.6
22.8
-44.8
93.5
-6.1

6.7
76.6
-10.3
2.0
-12.4
87.0
-22.2
87.6
0.1

1.5
-116.3
-145.5
-0.5
-145.0
29.2
52.4
101.8
0.1

7.5
-12.4
-37.7
0.1
-37.8
25.3
18.2
108.9
0.9

4.1
166.7
37.5
-0.2
37.7
129.2
37.9
46.8
-0.1

4.9
-128.5
-168.3
-1.7
-166.6
39.7
24.2
-13.3
0.9

-19.4
-168.1
-61.1
5.6
-66.7
-106.9
47.7
43.0
0.9

23
24
25
26
27
28
29
30
31

-91.6
66.0
18.6
45.8
158.8
6.4
31.5
14.8

-192.5
195.5
35.3
44.5
148.3
-5.3
5.5
9.7

-292.5
259.6
52.6
59.3
201.4
-49.9
-40.7
10.3

-335.2
280.7
61.2
48.0
217.4
-41.8
-57.8
9.7

-327.4
158.2
47.2
50.8
181.8
-6.5
-38.7
12.4

-490.6
237.4
88.6
50.2
209.0
-29.7
-10.2
4.7

-266.9
214.0
41.9
77.2
209.1
-26.3
-23.1
16.1

32
33
34
35
36
37
38
39

349.1

364.5

378.7

483.8

579.4

556.1

577.1

40

337.0

339.8

332.7

454.8

498.0

541.0

610.3

41

163.0
138.9
0.7
17.4
26.6
-9.6

224.4
91.3
6.6
0.5
12.4
4.7

240.4
57.5
10.0
8.0
18.1
-1.2

339.1
75.0
12.0
6.1
13.3
9.4

373.9
99.5
10.4
-7.0
14.6
6.6

370.5
139.0
5.8
6.7
16.4
2.7

477.8
110.2
11.3
-16.8
16.9
10.8

42
43
44
45
46
47

3.5
7.9

15.8
8.0

36.8
8.9

21.6
8.7

75.2
4.1

7.2
7.7

-38.8
6.1

48
49

0.7

0.8

0.3

-1.4

2.1

0.1

-0.4

50

-11.5

-101.3

-16.3

-86.3

7.1

118.7

-97.7

51

23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51

Open market paper
U.S. government securities
Treasury
Savings bonds
Other
Agency
Municipal securities
Corporate and foreign bonds
Mortgages
Corporate equities (5)
Mutual fund shares
Security credit
Life insurance reserves
Pension fund reserves
Investment in bank personal trusts
Equity in noncorporate business
Miscellaneous assets
Net increase in liabilities
Credit market instruments
Home mortgages (6)
Consumer credit
Municipal securities
Bank loans n.e.c.
Other loans and advances
Commercial mortgages
Security credit
Trade payables
Deferred and unpaid
life insurance premiums
Discrepancy

(1) Sector includes farm households. Supplementary tables (tables F.100.a and L.100.a) show estimates of annual flows and year-end outstandings of nonprofit organizations.
(2) See table F.10 for derivation of alternative measures of personal saving.
(3) Railroad Retirement Board and federal government life insurance reserves.
(4) Table F.9, line 12 less lines 3 and 8.
(5) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual funds (line 33), life insurance and pension reserves (lines 35 and 36), and bank personal trusts (line 37).
(6) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table F.218, line 24.

FFA, 1995-2001, September 16, 2002

9

F.101 Nonfinancial Business (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1

Income before taxes

976.5

1062.8

1134.1

1142.1

1196.2

1205.3

1108.5

1

2

Gross saving and net capital transfers

747.3

810.0

869.6

865.1

913.9

907.7

951.5

2

3

Gross investment

801.7

852.2

891.2

928.7

1024.9

1085.5

969.0

3

784.1

833.5

912.4

984.2

1099.1

1200.1

1018.8

4

743.0
42.5
684.3

798.6
45.8
736.2

840.8
42.0
776.4

907.0
42.1
834.9

1037.8
60.3
955.6

1136.0
66.4
1047.4

1078.8
63.5
988.1

5
6
7

33.1
8.1

30.0
4.8

62.9
8.8

73.1
4.1

59.6
1.7

63.5
0.6

-60.3
0.3

8
9

4

Capital expenditures

5
6
7

Fixed investment
Residential
Nonresidential

8
9

Change in inventories
Access rights from federal government

10

17.6

18.7

-21.3

-55.5

-74.2

-114.6

-49.8

10

11

Net acquisition of financial assets

503.9

549.0

403.7

787.4

1175.7

933.4

427.8

11

12
13
14
15
16

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

1.7
18.2
7.6
24.8
0.3

10.8
58.5
3.5
9.9
1.5

-5.1
30.0
30.4
23.9
0.7

7.4
69.0
2.3
36.1
-0.4

0.9
81.4
70.0
31.5
1.6

16.0
28.7
41.3
49.9
2.4

-10.4
23.6
47.5
106.9
-0.2

12
13
14
15
16

17

Credit market instruments

-4.9

-6.2

-10.1

-2.7

-18.6

3.8

-16.6

17

1.3
15.1
-19.3
-0.5
-1.6

11.4
-0.0
-5.4
-4.9
-7.3

4.6
-37.1
-3.1
24.3
1.2

3.3
5.1
-2.0
-5.1
-4.1

8.2
-3.3
-1.0
-28.0
5.4

13.8
-4.2
-1.3
-6.9
2.4

-4.9
9.1
-6.3
0.3
-14.8

18
19
20
21
22

4.6
93.3
358.4

3.3
117.6
350.1

-8.2
128.6
213.6

10.3
115.2
550.1

12.5
243.1
753.2

12.9
105.3
673.0

-5.2
-71.3
353.4

23
24
25

486.3

530.3

425.0

842.9

1249.9

1048.0

477.5

26

275.9

255.3

392.5

559.9

589.4

587.9

399.8

27

18
19
20
21
22
23
24
25
26
27

Net financial investment

Commercial paper
U.S. government securities
Municipal securities
Mortgages
Consumer credit
Mutual fund shares
Trade receivables
Miscellaneous assets
Net increase in liabilities
Credit market instruments

28
29
30

Commercial paper
Municipal securities
Corporate bonds

18.1
3.1
91.1

-0.9
3.1
116.3

13.7
4.2
150.5

24.4
5.8
218.7

37.4
5.1
229.9

48.1
1.4
171.1

-88.3
3.3
332.6

28
29
30

31
32
33

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

86.3
40.2
37.1

69.9
16.0
51.0

98.4
42.6
83.1

102.1
67.6
141.3

89.8
42.9
184.4

95.0
86.2
186.1

-65.5
2.0
215.7

31
32
33

-58.3
94.4
2.9
154.7

-69.5
81.4
14.5
255.5

-114.4
97.5
16.6
88.4

-267.0
80.0
13.8
520.6

-143.5
219.6
16.2
617.9

-159.7
148.4
14.5
500.1

-61.8
-60.7
6.9
229.7

34
35
36
37

16.7

-6.8

-55.6

-64.4

-49.8

-43.1

-36.4

38

-54.4

-42.2

-21.5

-63.6

-111.0

-177.9

-17.5

39

34
35
36
37
38
39

Corporate equities
Trade payables
Taxes payable
Miscellaneous liabilities
Proprietors’ net investment
Discrepancy

(1) Combined statement for nonfarm nonfinancial corporate business, nonfarm noncorporate business, and farm business.

10

FFA, 1995-2001, September 16, 2002

F.102 Nonfarm Nonfinancial Corporate Business
Billions of dollars; quarterly figures are seasonally adjusted annual rates

1
2
3
4
5
6
7
8
9
10

1995

1996

1997

1998

1999

2000

2001

Profits before tax (book)
- Profit tax accruals
- Dividends
+ Capital consumption allowance (1)
= U.S. internal funds, book
+ Foreign earnings retained abroad
+ Inventory valuation adjustment (IVA)
+ Net capital transfers (2)
= Total internal funds + IVA

421.6
136.3
178.3
471.8
578.8
59.5
-18.3
0.0
619.9

458.8
149.6
200.9
504.2
612.5
60.5
3.1
0.0
676.0

494.5
157.9
216.4
539.7
659.9
59.3
8.5
0.0
727.6

460.1
154.2
240.8
570.6
635.7
62.8
18.4
0.0
716.8

458.9
166.4
237.3
613.9
669.1
91.5
-4.2
0.0
756.3

436.0
171.9
258.0
633.1
639.2
116.7
-15.0
0.0
741.0

326.9
123.0
277.0
720.9
647.9
124.3
5.0
0.0
777.1

1
2
3
4
5
6
7
8
9

Gross investment

674.3

718.2

749.1

780.4

867.3

918.8

794.6

10

638.7
590.6
40.1
8.1

662.7
636.8
21.0
4.8

760.2
694.5
57.0
8.8

826.5
753.8
68.6
4.1

885.0
825.3
58.0
1.7

957.2
894.2
62.5
0.6

794.2
852.8
-58.9
0.3

11
12
13
14

35.5

55.5

-11.1

-46.1

-17.7

-38.4

0.4

15

11
12
13
14

Capital expenditures
Fixed investment (3)
Inventory change + IVA
Access rights from federal government

15

Net financial investment

16

Net acquisition of financial assets

426.4

454.0

272.4

569.9

969.9

761.4

287.8

16

17
18
19
20
21

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

1.7
4.5
3.3
22.9
0.3

10.8
39.3
-0.0
7.7
1.5

-5.1
7.6
19.7
20.2
0.7

7.4
35.2
-6.8
26.5
-0.4

0.9
38.9
46.8
23.1
1.6

16.0
8.6
17.3
40.4
2.4

-10.4
7.6
27.2
97.2
-0.2

17
18
19
20
21

22
23
24
25
26
27
28

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

1.3
9.8
-19.9
1.6
-1.6
78.0
4.6

11.4
-4.9
-5.8
-3.6
-7.3
88.1
3.3

4.6
-40.8
-3.6
25.9
1.2
93.5
-8.2

3.3
-0.6
-1.6
-13.0
-4.1
86.3
10.3

8.2
-2.4
-0.7
-26.0
5.4
200.5
12.5

13.8
1.0
-2.1
-10.0
2.4
63.0
12.9

-4.9
10.6
-6.7
-3.0
-14.8
-86.4
-5.2

22
23
24
25
26
27
28

29
30
31
32
33
34

Miscellaneous assets
U.S. direct investment abroad (4)
Insurance receivables
Equity in GSEs
Investment in finance co. subs.
Other

319.9
90.3
8.2
-0.2
4.6
216.9

313.6
76.8
2.6
-0.2
1.8
232.7

156.8
84.3
1.9
-1.1
-3.7
75.4

427.4
129.2
1.7
-0.7
-6.4
303.6

661.2
158.4
1.0
-0.6
26.8
475.6

595.8
147.5
-0.3
0.0
7.4
441.3

276.7
104.9
10.3
-0.2
-1.7
163.3

29
30
31
32
33
34

390.8

398.5

283.5

616.0

987.6

799.8

287.3

35

168.7
-58.3
227.1
18.1
3.1
91.1
74.5

113.6
-69.5
183.1
-0.9
3.1
116.3
40.4

177.2
-114.4
291.6
13.7
4.2
150.5
51.1

125.2
-267.0
392.1
24.4
5.8
218.7
72.0

258.1
-143.5
401.6
37.4
5.1
229.9
60.8

246.6
-159.7
406.3
48.1
1.4
171.1
62.4

173.7
-61.8
235.5
-88.3
3.3
332.6
-72.0

36
37
38
39
40
41
42

35
36
37
38
39
40
41
42

Net increase in liabilities
Net funds raised in markets
Net new equity issues
Credit market instruments
Commercial paper
Municipal securities (5)
Corporate bonds (4)
Bank loans n.e.c.

43
44
45
46
47
48
49
50

Other loans and advances
Savings institutions
Finance companies
U.S. government
Acceptance liabilities to banks
Rest of the world
ABS issuers
Mortgages

32.3
1.2
24.0
1.9
-0.8
0.0
5.9
7.9

14.2
1.5
2.8
-1.3
-0.7
3.9
8.1
10.2

39.8
1.6
-0.5
-0.3
-2.6
17.3
24.4
32.3

54.3
2.7
33.1
-0.1
-4.3
-1.0
23.8
17.0

34.5
3.2
48.8
-0.3
-2.2
-22.7
7.7
34.0

73.4
4.3
57.0
-0.4
-0.0
-2.2
14.7
49.9

1.7
1.8
-10.3
-0.2
-0.3
-1.6
12.4
58.2

43
44
45
46
47
48
49
50

51
52
53
54
55
56

Trade payables
Taxes payable
Miscellaneous liabilities
Foreign direct investment in U.S.
Pension fund contributions payable
Other

81.0
-0.0
141.1
53.6
4.1
83.5

49.5
9.6
225.8
71.7
4.1
150.1

65.1
9.3
31.9
100.2
7.1
-75.5

57.6
4.8
428.4
144.4
21.4
262.5

178.5
7.0
544.1
247.0
-4.8
301.8

112.5
7.0
433.8
189.1
1.2
243.4

-80.9
0.1
194.4
66.6
1.3
126.5

51
52
53
54
55
56

-54.4

-42.2

-21.5

-63.6

-111.0

-177.9

-17.5

57

78.3

47.1

91.9

172.5

220.2

333.0

141.4

58

57

Discrepancy

58

Memo:
Financing gap (6)

(1) Consumption of fixed capital plus capital consumption adjustment.
(2) Table F.9, line 6.
(3) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 10 and 16 respectively.
(4) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues.
(5) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.
(6) Capital expenditures (line 11) less the sum of U.S. internal funds (line 5) and inventory valuation adjustment (line 7).

FFA, 1995-2001, September 16, 2002

11

F.103 Nonfarm Noncorporate Business
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1
2

Net income with IVA and CCAdj
Gross saving = capital consumption

532.8
105.6

569.7
110.8

609.9
118.5

656.5
125.0

709.6
132.5

746.7
141.0

762.5
148.0

1
2

3

Gross investment

105.6

110.8

118.5

125.0

132.5

141.0

148.0

3

4
5
6

Capital expenditures
Fixed investment (1)
Change in inventories

132.1
130.0
2.1

139.2
138.1
1.1

121.8
118.8
3.0

127.5
123.9
3.6

190.2
187.1
3.1

217.0
213.8
3.3

192.9
196.0
-3.1

4
5
6

7

Net financial investment

-26.5

-28.4

-3.3

-2.5

-57.7

-76.1

-44.9

7

8

Net acquisition of financial assets

75.2

95.1

130.7

215.2

205.0

171.9

138.1

8

9
10
11
12
13
14
15
16
17
18
19
20

Checkable deposits and currency
Time and savings deposits
Money market mutual funds
Treasury securities
Municipal securities
Mortgages
Consumer credit
Trade receivables
Miscellaneous assets
Insurance receivables
Equity investment in GSEs (2)
Other

13.2
4.3
1.9
5.3
0.6
-2.1
0.0
15.3
36.7
2.0
0.0
34.7

19.3
3.5
2.2
4.9
0.4
-1.4
0.0
29.5
36.6
0.6
0.7
35.2

22.2
10.7
3.7
3.7
0.5
-1.6
0.0
35.1
56.4
0.5
0.0
55.9

32.1
9.1
9.7
5.7
-0.4
7.9
0.0
28.9
122.2
0.4
-0.1
121.9

41.9
23.2
8.5
-0.9
-0.2
-2.0
0.0
42.6
91.8
0.2
0.0
91.6

20.0
24.0
9.5
-5.2
0.9
3.1
0.0
42.3
77.3
-0.1
-0.0
77.4

15.6
20.3
9.7
-1.5
0.4
3.3
0.0
15.1
75.2
2.5
-0.1
72.9

9
10
11
12
13
14
15
16
17
18
19
20

101.7

123.5

133.9

217.7

262.7

248.0

183.1

21

46.1
10.7
7.6
27.8
12.4
2.9
13.5
26.7

67.3
28.9
0.2
38.2
30.6
4.9
29.7
-9.0

94.7
43.8
3.3
47.7
31.0
7.3
56.5
-55.6

159.7
28.9
13.0
117.7
21.6
9.0
92.3
-64.8

182.4
29.9
7.8
144.7
40.7
9.3
73.9
-43.5

170.7
29.9
11.1
129.7
35.0
7.5
66.3
-31.5

156.8
6.4
0.3
150.1
20.0
6.8
35.4
-35.9

22
23
24
25
26
27
28
29

21
22
23
24
25
26
27
28
29

Net increase in liabilities
Credit market instruments
Bank loans n.e.c.
Other loans and advances
Mortgages
Trade payables
Taxes payable
Miscellaneous liabilities
Proprietors’ net investment

(1) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 11 and 17 respectively.
(2) Equity in the Farm Credit System.

F.104 Farm Business (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
2
3
4
5

Proprietors’ net income with IVA and CCAdj
Net saving (corporate)
Consumption of fixed capital
Corporate
Noncorporate

22.2
0.2
21.6
3.2
18.4

34.3
1.0
22.3
3.2
19.1

29.7
0.6
23.0
3.3
19.7

25.6
-0.5
23.8
3.4
20.4

27.7
0.0
25.1
3.7
21.4

22.6
1.1
24.7
3.9
20.8

19.1
1.3
25.1
4.1
21.1

1
2
3
4
5

6

Gross saving

21.8

23.2

23.5

23.3

25.1

25.8

26.4

6

7

Gross investment

21.8

23.2

23.5

23.3

25.1

25.8

26.4

7

13.2
22.4
-9.2

31.6
23.8
7.9

30.4
27.5
2.9

30.3
29.4
0.9

23.9
25.4
-1.5

25.8
28.1
-2.2

31.7
30.0
1.6

8
9
10

8.6

-8.4

-6.9

-6.9

1.2

-0.1

-5.3

11

8
9
10

Capital expenditures
Fixed investment (2)
Change in inventories

11

Net financial investment

12

Net acquisition of financial assets

2.3

-0.1

0.7

2.3

0.8

0.1

1.9

12

13
14
15
16

Checkable deposits and currency
Miscellaneous assets
Insurance receivables
Equity investment in GSEs (3)

0.5
1.8
1.9
-0.1

-0.0
-0.1
0.6
-0.6

0.2
0.4
0.4
0.0

1.7
0.5
0.4
0.1

0.6
0.2
0.2
-0.0

0.2
-0.1
-0.1
-0.0

0.4
1.5
1.4
0.1

13
14
15
16

17
18
19
20
21
22
23

Net increase in liabilities
Credit market instruments
Bank loans n.e.c.
Other loans and advances
Mortgages
Trade payables
Proprietors’ net investment

(1) Corporate and noncorporate farms.
(2) Nonresidential fixed investment, shown in table F.6, line 12.
(3) Equity in the Farm Credit System.

-6.2

8.3

7.6

9.2

-0.4

0.2

7.1

17

2.7
1.1
0.3
1.4
1.0
-9.9

4.9
0.6
1.6
2.7
1.3
2.2

6.2
3.5
-0.5
3.1
1.4
0.0

8.0
1.2
0.3
6.5
0.8
0.4

5.5
-0.9
0.6
5.8
0.4
-6.3

10.9
2.7
1.7
6.5
0.9
-11.6

7.5
-0.0
0.0
7.5
0.2
-0.5

18
19
20
21
22
23

12

FFA, 1995-2001, September 16, 2002

F.105 State and Local Governments, Excluding Employee Retirement Funds (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

917.9

960.4

1011.4

1074.4

1144.1

1214.2

1261.3

1

186.6
31.7
501.6
13.6
184.5

199.6
33.0
524.9
12.4
190.4

217.0
34.2
552.6
10.9
196.8

235.5
34.6
583.9
10.2
210.3

255.8
34.8
612.7
9.7
231.0

277.5
35.6
644.5
9.2
247.5

281.2
29.1
664.5
9.2
277.4

2
3
4
5
6

Current expenditures, NIPA basis

902.5

939.0

980.4

1033.7

1105.8

1196.3

1292.7

7

8
9
10
11
12
13

Consumption expenditures
Transfer payments to persons
Net interest paid
- Dividends received by government
Subsidies less current surplus of govt. enterprises
- Wage accruals less disbursements

694.7
217.8
0.5
0.3
-10.2
0.0

726.5
224.4
0.9
0.3
-12.5
0.0

766.5
227.6
-0.9
0.3
-12.4
0.0

808.3
235.3
0.4
0.4
-9.9
0.0

864.7
252.8
-0.7
0.4
-10.5
0.0

937.9
271.3
-2.9
0.4
-9.7
0.0

993.8
304.5
-2.1
0.4
-3.1
0.0

8
9
10
11
12
13

14

Current surplus or deficit (-), NIPA basis

15.4

21.4

31.0

40.8

38.3

17.9

-31.4

14

15
16

+ Consumption of fixed capital
+ Net capital transfers (2)

84.2
32.3

89.0
33.8

94.2
35.3

99.5
36.0

106.4
39.7

115.0
43.9

123.7
48.3

15
16

17

= Gross saving and net capital transfers

131.8

144.1

160.4

176.2

184.3

176.8

140.6

17

18

Gross investment

146.4

153.6

121.3

227.1

207.4

207.6

161.7

18

155.8

163.8

183.3

191.0

211.3

223.9

236.2

19

-9.4

-10.3

-62.0

36.1

-4.0

-16.3

-74.5

20

-31.7

13.8

25.4

146.9

77.5

38.3

54.0

21

3.4
6.6
-3.0

-5.5
10.6
32.1

4.4
5.8
3.6

-3.9
12.8
7.2

3.9
11.0
5.0

1.0
9.4
9.7

5.1
7.7
-18.4

22
23
24

-91.4

-33.7

0.1

134.5

28.4

-0.8

38.1

25

17.1
-115.3
-80.2
-35.1

20.3
-68.1
-32.8
-35.3

14.3
-18.5
-17.7
-0.8

28.0
93.5
30.0
63.6

6.9
8.5
-2.5
11.0

7.6
-17.1
-30.6
13.5

-26.5
50.1
20.3
29.8

26
27
28
29

-3.5
7.1
3.3

-0.5
10.7
3.8

-0.7
1.3
3.7

-1.4
10.2
4.1

-1.5
10.1
4.3

0.6
3.7
4.5

0.3
9.4
4.7

30
31
32

1
2
3
4
5
6
7

Current receipts, NIPA basis
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax accruals
Contributions for social insurance
Federal grants-in-aid

19

Fixed investment

20

Net financial investment

21

Net acq. of financial assets

22
23
24

Checkable deposits and currency
Time and savings deposits
Security RPs

25

Credit market instruments

26
27
28
29

Open market paper
U.S. government securities
Treasury
Agency

30
31
32

Municipal securities
Corporate and foreign bonds
Mortgages

33
34

Corporate equities
Mutual fund shares

12.1
5.9

14.5
6.0

16.8
-7.4

9.4
-12.3

3.5
4.3

-1.2
0.8

22.8
5.1

33
34

35
36

Taxes receivable
Miscellaneous assets

-6.7
41.3

-2.0
-8.1

3.3
-1.2

7.3
-8.0

9.8
11.6

10.6
8.6

5.2
-11.6

35
36

37

-22.3

24.1

87.5

110.8

81.4

54.5

128.4

37

38

Credit market instruments

-51.5

-6.8

56.1

80.3

52.3

27.2

103.2

38

39
40
41
42

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

-51.9
1.2
-53.2
0.5

-7.2
6.3
-13.4
0.4

57.3
8.3
49.0
-1.2

79.1
-6.3
85.4
1.2

52.7
3.6
49.1
-0.4

28.2
3.2
25.0
-1.0

103.0
20.6
82.4
0.2

39
40
41
42

29.2

30.9

31.4

30.5

29.1

27.4

25.2

43

-14.6

-9.4

39.1

-50.9

-23.0

-30.8

-21.1

44

43
44

Net increase in liabilities

Trade payables
Discrepancy

(1) Data for retirement funds are shown in table F.120.
(2) Table F.9, line 7.

FFA, 1995-2001, September 16, 2002

13

F.106 Federal Government
Billions of dollars; quarterly figures are seasonally adjusted annual rates

1
2
3
4
5
6

Current receipts, NIPA basis
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax accruals
Contributions for social insurance
Current expenditures, NIPA basis

7
8
9
10
11
12

Consumption expenditures
Transfers payments (net)
Grants-in-aid to state and local governments
Net interest paid
Subsidies less current surplus of govt. enterprises
- Wage accruals less disbursements

13

Current surplus or deficit (-), NIPA basis

14
15
16

+ Consumption of fixed capital
- Insurance and pension reserves (1)
+ Net capital transfers (2)

17

= Gross saving and net capital transfers

18

Gross investment

19
20

Fixed investment
Access rights sales

21

Net financial investment

22

1996

1997

1998

1999

2000

2001

1383.7

1499.1

1625.5

1749.7

1867.2

2033.9

2008.4

1

591.8
179.3
93.0
519.6

670.0
190.6
95.1
543.4

751.8
203.0
93.7
577.0

834.9
204.3
97.4
613.1

903.3
213.0
100.2
650.7

1009.0
223.8
109.1
692.1

1010.9
170.3
110.3
716.9

2
3
4
5

1575.7

1636.0

1678.8

1705.9

1755.2

1827.1

1936.4

6

439.2
652.1
184.5
267.5
32.4
0.0

445.3
691.7
190.4
273.6
35.1
0.0

456.9
717.5
196.8
276.2
31.5
0.0

453.1
730.6
210.3
278.5
33.5
0.0

471.6
745.8
231.0
263.8
43.0
0.0

493.3
779.5
247.5
263.0
43.8
0.0

528.4
842.2
277.4
238.1
50.3
0.0

7
8
9
10
11
12

-192.0

-136.9

-53.4

43.8

112.0

206.9

72.0

13

84.0
3.6
-12.8

85.3
3.4
-10.7

86.8
3.4
-8.4

88.2
4.4
-3.6

91.5
3.8
-7.4

95.9
1.8
-8.0

98.8
3.3
-12.9

14
15
16

-124.4

-65.6

21.6

124.0

192.3

293.1

154.6

17

-98.8

-121.6

6.4

101.3

196.5

319.0

96.0

18

82.3
-8.1

86.3
-4.8

81.4
-8.8

86.1
-4.1

93.4
-1.7

95.9
-0.6

99.7
-0.3

19
20

-173.0

-203.1

-66.2

19.3

104.8

223.7

-3.4

21

-4.1

-4.9

-9.6

-5.3

70.9

-68.6

54.4

22

23
24
25

Gold, SDRs, and official foreign exchange
Checkable deposits and currency
Time and savings deposits

6.4
-0.0
0.3

-2.9
11.0
1.4

2.5
-0.5
1.0

6.0
-16.7
1.3

-7.1
66.2
0.7

-0.6
-65.1
1.0

4.6
41.1
4.2

23
24
25

26

Credit market instruments

-0.5

-7.2

5.1

13.5

5.8

7.3

6.0

26

0.0
-13.5
13.0

0.0
-7.2
0.1

0.0
-4.5
9.6

0.0
-0.8
14.3

0.0
-0.1
5.9

0.0
-0.9
8.2

0.0
-1.1
7.1

27
28
29

-1.6
-6.6
-2.1

0.9
-1.6
-6.7

-3.2
-9.0
-5.4

1.5
-7.5
-3.5

4.6
1.7
-0.9

5.3
-15.1
-1.4

7.2
-10.0
1.3

30
31
32

169.0

198.1

56.5

-24.6

-33.9

-292.3

57.9

33

2.2
0.7

-0.5
0.5

-0.5
0.5

0.0
0.6

-3.0
1.0

-4.0
2.4

0.0
-0.0

34
35

144.4

144.9

23.1

-52.6

-71.2

-295.9

-5.6

36

27
28
29
30
31
32
33

Net acq. of financial assets

1995

Agency securities
Mortgages
Other loans and advances
Trade receivables
Taxes receivable
Miscellaneous assets
Net increase in liabilities

34
35

SDR certificates
Treasury currency

36

Credit market instruments

37
38
39
40

Savings bonds
Other Treasury securities
Budget agency securities
Multifamily residential mortgages

5.1
137.9
1.5
0.0

2.0
144.5
-1.6
-0.0

-0.5
23.7
-0.1
-0.0

0.1
-54.7
2.0
0.0

-0.2
-70.8
-0.2
0.0

-1.7
-293.2
-1.0
0.0

5.6
-10.6
-0.5
0.0

37
38
39
40

41
42
43

Trade payables
Insurance and pension reserves (3)
Miscellaneous liabilities

-4.6
21.8
4.5

0.7
55.7
-3.3

-8.8
42.0
0.3

-8.0
42.5
-7.1

-0.3
42.5
-2.9

-19.1
22.3
2.0

9.0
62.2
-7.8

41
42
43

-25.6

56.0

15.2

22.7

-4.2

-25.9

58.7

44

-5.7

12.9

-2.2

-12.8

59.4

-55.1

49.2

45

44

Discrepancy
Memo:

45

Change in cash balance (4)

(1) Railroad Retirement Board and federal government life insurance reserves.
(2) Table F.9, line 2.
(3) Line 15 plus civil service retirement and disability fund, judicial retirement fund, military retirement fund, and foreign service retirement and disability fund.
(4) Time and savings deposits (line 25) plus checkable deposit and currency liabilities of the monetary authority and commercial banking sectors (table F.204, lines 3 and 7).

14

FFA, 1995-2001, September 16, 2002

F.107 Rest of the World
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1
2
3
4

Foreign income from U.S.
U.S. imports
U.S. income payments to rest of world
Net transfers to rest of world

1148.8
902.8
211.9
34.0

1230.4
963.1
227.5
39.8

1370.8
1055.8
274.3
40.8

1450.7
1116.7
289.6
44.5

1582.2
1239.2
294.1
48.9

1880.3
1466.6
360.0
53.7

1727.8
1383.0
295.0
49.8

1
2
3
4

5
6
7

Foreign outlays to U.S.
U.S. exports
U.S. income receipts from rest of world

1050.8
818.6
232.3

1119.7
874.2
245.6

1247.7
966.4
281.3

1251.1
964.9
286.1

1306.2
989.4
316.8

1484.6
1101.2
383.4

1351.1
1034.2
316.9

5
6
7

8

Net capital transfers (1)

0.3

-0.1

-0.4

-0.7

3.4

-0.8

-0.8

8

9

Gross saving and net capital transfers (2)

98.3

110.6

122.7

199.0

279.4

394.9

375.9

9

Net financial investment

86.6

137.9

219.6

64.5

261.6

410.3

382.7

10

419.2

521.8

597.3

393.4

710.8

932.1

630.9

11

-0.8
11.1
13.4
-6.6
21.0

0.4
-52.0
19.9
10.9
3.2

-0.4
-4.3
29.9
13.1
20.0

-0.1
-27.1
14.8
13.0
-18.8

0.0
-5.7
39.9
15.0
8.0

-0.7
20.8
-8.4
5.8
11.4

-0.6
-49.3
24.2
-14.5
59.4

12
13
14
15
16

10
11

Net acquisition of financial assets

12
13
14
15
16

Gold and SDRs (3)
Net interbank assets
U.S. checkable deposits and currency
U.S. time deposits
Security RPs

17
18
19
20
21
22
23
24
25
26
27

Credit market instruments
Open market paper
U.S. government securities
Official
Treasury
Agency
Private
Treasury
Agency
U.S. corporate bonds (4)
Loans to U.S. corporate business

246.8
18.6
178.1
72.7
69.0
3.7
105.4
91.5
13.9
50.1
0.0

379.6
14.4
289.5
120.7
115.7
5.0
168.8
147.0
21.8
71.8
3.9

259.6
19.9
154.1
-2.2
-6.7
4.5
156.2
130.4
25.8
68.4
17.3

172.5
37.6
29.7
-3.6
-9.9
6.3
33.3
28.6
4.7
106.1
-1.0

139.7
-13.0
31.1
32.5
12.2
20.4
-1.4
-44.5
43.1
144.4
-22.7

225.9
9.5
50.1
30.7
-10.2
40.9
19.5
-77.0
96.4
168.4
-2.2

320.6
6.2
110.3
31.7
10.7
20.9
78.6
-7.7
86.3
205.7
-1.6

17
18
19
20
21
22
23
24
25
26
27

28
29
30
31
32
33

U.S. corporate equities
Trade receivables
Security credit
Miscellaneous assets
Foreign direct investment in U.S. (5)
Other

16.5
0.7
0.0
117.0
57.8
59.2

11.1
5.5
0.0
143.2
86.5
56.7

67.0
0.9
0.0
211.6
105.6
106.0

42.0
-6.5
0.0
203.8
179.0
24.7

112.3
-5.0
0.0
406.6
289.5
117.1

193.5
-0.5
0.0
484.3
307.7
176.5

121.4
-2.7
0.0
172.4
130.8
41.6

28
29
30
31
32
33

332.6

383.9

377.8

328.9

449.2

521.8

248.2

34

8.8
35.3

-6.3
85.9

0.7
107.7

6.6
6.5

-8.7
61.0

-0.4
135.1

4.3
28.0

35
36

78.5
13.5
57.1
8.5
0.4
2.1
5.9
-0.8
0.3

88.4
11.3
67.0
9.1
0.3
3.4
5.4
-0.7
1.8

71.8
3.7
61.4
8.5
-0.8
-0.5
9.8
-1.6
-0.2

43.2
7.8
34.9
6.6
0.7
-0.7
6.6
-1.0
-5.0

25.2
16.3
14.1
0.5
0.2
-3.2
3.5
-4.8
-0.9

65.7
31.7
23.9
11.4
0.6
3.4
7.4
-0.6
-0.7

-37.4
-14.2
-12.1
-7.3
0.8
-7.4
-0.7
-1.1
-2.6

37
38
39
40
41
42
43
44
45

65.4
5.8
0.0
138.8
1.5
0.3
98.8
38.3

82.8
-1.7
0.0
134.8
1.8
-0.1
91.9
41.1

57.6
5.2
0.0
134.8
1.6
-0.0
104.8
28.5

101.3
-3.9
0.0
175.2
1.6
-0.1
142.6
31.1

114.3
4.2
0.0
253.3
1.5
0.6
188.9
62.3

103.6
0.8
0.0
217.0
1.5
0.0
178.3
37.2

106.8
-2.2
0.0
148.8
1.7
-0.1
127.8
19.3

46
47
48
49
50
51
52
53

11.7

-27.3

-96.9

134.5

17.8

-15.4

-6.8

54

-84.3
20.3
34.0

-89.0
18.1
39.8

-89.4
7.1
40.8

-151.7
-3.5
44.5

-249.9
22.7
48.9

-365.5
23.4
53.7

-348.9
22.0
49.8

55
56
57

-97.9

-110.7

-123.1

-199.7

-276.0

-395.7

-376.7

58

34
35
36

Net increase in liabilities
U.S. official foreign exchange
and net IMF position
U.S. private deposits

37
38
39
40
41
42
43
44
45

Credit market instruments
Commercial paper
Bonds
Bank loans n.e.c.
Official
Banks
Other
U.S. government loans
Acceptance liabilities to banks

46
47
48
49
50
51
52
53

Foreign corporate equities (6)
Trade payables
Security debt
Miscellaneous liabilities
U.S. equity in IBRD, etc.
U.S. government deposits
U.S. direct investment abroad (4,5)
Other

54

55
56
57
58

Discrepancy (FOF basis) (7)
Memo:
Net U.S. exports, NIPA basis
+ Net U.S. income receipts (8)
- Net transfer payments to foreign
= Net foreign investment in U.S.
(NIPA basis)

(1) Table F.9, line 10.
(2) Line 1 minus line 5 plus line 8; also equal to line 58 with the sign reversed plus line 8.
(3) U.S. net sales, sign reversed.
(4) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries; U.S. direct investment abroad excludes net inflows from those bond issues.
(5) Direct investment is valued on a current-cost basis. Excludes capital gains and losses.
(6) Includes American Depositary Receipts (ADRs).
(7) Balance of payments discrepancy adjusted to NIPA concepts.
(8) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP.

FFA, 1995-2001, September 16, 2002

15

F.108 Monetary Authority (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1

Gross saving

-1.2

1.7

2.7

-2.1

0.3

4.6

0.6

1

2

Fixed nonresidential investment

0.3

0.3

0.2

0.3

0.5

0.4

0.4

2

3

Net acquisition of financial assets

19.8

23.3

38.8

32.8

130.0

-60.9

47.0

3

3.2
2.2
1.0

-3.8
-0.5
1.0

-1.5
-0.5
0.6

0.8
0.0
0.7

-1.6
-3.0
1.7

0.9
-4.0
3.6

0.3
0.0
1.4

4
5
6

4
5
6

Gold and foreign exchange
SDR certificates
Treasury currency

7
8
9

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

0.8
-0.1
3.3

4.2
-0.1
7.7

-3.6
2.0
2.3

0.9
-2.0
6.5

-1.9
0.2
110.3

1.1
-0.1
-97.3

-0.9
-0.1
6.9

7
8
9

Credit market instruments

12.7

12.3

38.3

21.1

25.7

33.7

39.9

10

0.0
12.7
13.7
-1.0
0.0

0.0
12.3
12.7
-0.4
0.0

0.0
38.3
39.8
-1.5
0.0

0.0
21.1
21.4
-0.3
0.0

0.0
25.7
25.8
-0.2
0.0

0.0
33.7
33.7
-0.1
0.0

0.0
39.9
40.0
-0.1
0.0

11
12
13
14
15

10
11
12
13
14
15
16
17

Acceptances
U.S. government securities
Treasury
Agency
Bank loans n.e.c.
Miscellaneous assets
Net increase in liabilities

-3.2

2.4

1.3

4.9

-1.3

1.1

-0.4

16

19.5

22.8

38.1

32.1

129.6

-61.3

46.5

17

18
19

Depository institution reserves
Vault cash of commercial banks

-1.2
2.4

-5.1
4.6

6.3
-0.2

-4.5
-2.9

-2.3
24.5

-5.0
-22.2

-1.6
2.9

18
19

20
21
22
23

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

16.9
-1.2
0.1
18.0

23.3
1.7
-0.2
21.8

29.9
-2.3
0.3
31.9

38.3
0.5
-0.3
38.0

108.7
22.3
-0.1
86.4

-35.3
-22.9
0.1
-12.5

48.0
1.5
-0.2
46.7

20
21
22
23

24
25
26

Miscellaneous liabilities
Federal Reserve Bank stock
Other

1.4
0.3
1.1

-0.1
0.6
-0.7

2.1
0.8
1.3

1.3
0.5
0.8

-1.3
0.5
-1.8

1.1
0.6
0.6

-2.8
0.4
-3.2

24
25
26

-1.8

0.9

1.7

-3.1

-0.7

3.8

-0.3

27

27

Discrepancy

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

16

FFA, 1995-2001, September 16, 2002

F.109 Commercial Banking (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1

Gross saving

32.4

28.5

35.5

29.9

44.0

55.5

54.3

1

2

Fixed nonresidential investment

15.7

20.4

24.3

29.0

28.9

27.2

25.3

2

3

Net acquisition of financial assets

335.7

216.6

457.3

419.1

345.7

475.5

351.9

3

4
5
6

Vault cash
Reserves at Federal Reserve
Checkable deposits and currency

2.4
-1.1
0.2

4.6
-4.6
-0.2

-0.2
6.8
-0.1

-2.9
-4.6
0.6

24.5
-5.1
0.3

-22.2
-1.9
-0.5

2.9
-2.2
1.1

4
5
6

7

Total bank credit

273.4

189.9

350.0

336.1

301.5

411.9

216.0

7

27.0
-11.7
38.7

11.3
-16.9
28.2

83.8
8.3
75.5

36.0
-56.0
92.0

51.2
14.8
36.4

-22.1
-44.4
22.3

33.7
-21.9
55.6

8
9
10

-4.2
8.4

0.9
1.4

2.4
27.8

8.2
37.8

5.9
39.6

3.4
58.1

6.1
97.8

11
12

239.8
-0.1
114.7
77.5
43.2
4.6

174.2
0.8
92.1
55.2
24.8
1.3

234.7
-0.8
128.2
99.9
-14.2
21.7

253.2
-0.2
145.0
91.7
-3.6
20.3

200.5
0.3
69.0
158.4
-9.2
-18.0

369.7
0.2
112.8
164.6
41.7
50.4

70.5
0.0
-75.8
129.8
16.6
0.0

13
14
15
16
17
18

2.1
0.3

1.8
0.3

0.6
0.8

1.3
-0.4

2.0
2.3

0.3
2.5

0.2
7.8

19
20

-0.6
61.4

1.0
25.9

-2.8
103.5

-9.3
99.1

-3.1
27.6

-0.7
89.0

-2.9
137.0

21
22

8
9
10

U.S. government securities
Treasury
Agency

11
12

Municipal securities
Corporate and foreign bonds

13
14
15
16
17
18

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

19
20

Corporate equities
Mutual fund shares

21
22

Customers’ liab. on acceptances (2)
Miscellaneous assets

23

Net increase in liabilities

300.6

203.7

490.5

444.5

286.6

573.5

351.4

23

24
25
26
27

Net interbank liabilities
To monetary authority
To domestic banks (3)
To foreign banks

8.7
0.7
-3.1
11.1

-51.2
4.1
-3.3
-52.0

-25.8
-1.6
-19.9
-4.3

-24.4
-1.1
3.8
-27.1

-7.2
-1.7
0.1
-5.7

42.3
1.0
20.4
20.8

-33.1
-1.0
17.2
-49.3

24
25
26
27

28
29
30
31

Checkable deposits
Federal government
Rest of the world
Private domestic

-45.9
-4.7
0.9
-42.1

-34.6
9.7
2.8
-47.1

-19.8
-0.9
4.8
-23.7

-33.5
-14.6
-1.5
-17.4

3.4
36.4
13.4
-46.4

-85.5
-33.2
-9.7
-42.6

100.4
43.5
0.5
56.3

28
29
30
31

32
33
34

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

113.9
54.8
30.4

123.1
105.3
41.0

148.3
107.9
89.0

183.7
72.1
87.0

72.0
119.6
110.8

211.6
92.8
66.1

249.4
32.7
-40.5

32
33
34

35

Credit market instruments

22.5

13.0

46.1

72.9

67.2

60.0

52.9

35

-2.2
18.5
6.2

2.9
7.8
2.3

3.3
23.7
19.1

-1.5
27.6
46.9

6.1
20.4
40.6

0.6
32.6
26.8

-8.3
37.0
24.2

36
37
38

-8.7
0.9
124.0

-14.3
1.2
20.1

-27.7
1.4
171.2

-11.2
1.7
96.3

-10.2
1.9
-70.9

-12.5
2.1
196.5

-8.1
2.4
-4.7

39
40
41

-18.5

-4.8

44.4

26.3

-44.0

126.3

28.5

42

265.9

187.5

324.3

305.6

312.2

357.9

205.2

43

36
37
38
39
40
41
42

Open market paper
Corporate bonds
Other loans and advances
Corporate equity issues
Taxes payable
Miscellaneous liabilities
Discrepancy
Memo:

43

Credit market funds advanced (4)

(1) U.S.-chartered commercial banks, foreign banking offices in U.S., bank holding companies, and banks in U.S.-affiliated areas. IBFs are excluded from domestic banking and treated the
same as branches in foreign countries.
(2) Included in other loans and advances (table F.216).
(3) Floats and discrepancies in interbank transactions.
(4) Total bank credit (line 7) less security credit (line 18) less corporate equities (line 19) less mutual fund shares (line 20) plus customers’ liability on acceptances (line 21).

FFA, 1995-2001, September 16, 2002

17

F.110 U.S.-Chartered Commercial Banks
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1

Gross saving

1.8

-11.6

-7.5

-11.1

-14.0

-0.1

-10.9

1

2

Fixed nonresidential investment

13.0

16.6

19.5

23.0

22.5

20.8

18.9

2

3

Net acquisition of financial assets

200.5

122.8

290.8

303.5

342.3

332.3

229.7

3

4

Vault cash and reserves at Federal Reserve

5

Total bank credit

6
7
8
9
10
11

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

12
13
14
15
16

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

17
18
19
20
21
22

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

23
24

Corporate equities
Mutual fund shares

25
26
27

Customers’ liab. on acceptances (1)
Miscellaneous assets
Net increase in liabilities

1.5

-0.3

4.8

-5.7

18.9

-23.1

0.6

4

194.8

115.2

280.7

329.5

316.6

350.2

209.0

5

-17.1
-40.4
23.4
12.9
-18.4
28.8

-19.4
-34.7
15.3
21.4
-11.5
5.4

54.3
-6.1
60.4
31.1
17.5
11.8

39.8
-42.0
81.7
53.8
8.9
19.1

27.4
-2.0
29.4
-17.8
5.0
42.2

-16.8
-35.0
18.2
14.1
-9.8
13.9

42.3
-31.4
73.7
52.8
57.2
-36.2

6
7
8
9
10
11

-4.3
3.3
0.9
3.5
-1.1

1.0
-4.5
-0.4
-3.1
-1.0

2.4
19.6
-1.2
0.7
20.2

8.2
32.4
0.9
20.3
11.2

5.8
43.6
0.6
6.0
37.0

3.2
52.2
-0.4
7.7
44.9

6.3
64.5
21.2
2.8
40.5

12
13
14
15
16

210.5
0.3
77.0
81.7
43.2
8.3

136.0
0.3
58.2
57.5
24.8
-4.8

203.0
-0.6
108.1
105.5
-14.2
4.2

248.2
-0.1
144.1
95.9
-3.6
11.9

235.5
-0.1
92.4
161.1
-9.2
-8.8

308.7
0.2
98.1
161.6
41.7
7.1

88.0
0.0
-61.6
125.8
16.6
7.2

17
18
19
20
21
22

2.1
0.3

1.8
0.3

0.6
0.8

1.3
-0.4

2.0
2.3

0.3
2.5

0.2
7.8

23
24

2.4
1.8

1.6
6.2

-0.2
5.5

-4.6
-15.8

-2.5
9.2

-0.7
5.9

-2.3
22.4

25
26

189.7

142.6

359.0

360.5

329.8

473.7

280.3

27

-6.8
0.8
-0.1
-7.3
-0.2

-55.7
4.2
-0.1
-23.5
-36.3

4.2
-3.6
2.0
-6.7
12.6

20.4
0.9
-2.0
-2.5
24.0

33.7
-1.9
0.2
-14.3
49.7

76.9
1.1
-0.1
30.5
45.4

-1.6
-0.9
-0.1
16.5
-17.0

28
29
30
31
32

28
29
30
31
32

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

33
34
35
36

Checkable deposits
Federal government
Rest of the world
Private domestic

-46.0
-4.7
1.0
-42.2

-34.4
9.7
3.5
-47.5

-21.1
-0.9
4.4
-24.6

-34.5
-14.6
-1.2
-18.7

2.9
36.4
12.8
-46.4

-85.0
-33.2
-9.3
-42.5

97.0
43.5
2.9
50.5

33
34
35
36

37
38
39

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

113.4
42.6
28.2

122.8
49.5
28.7

143.9
63.2
63.4

186.4
34.8
66.8

73.0
61.6
128.5

210.6
87.9
15.4

240.4
-25.2
-29.5

37
38
39

40
41
42
43
44

Acceptance liabilities
Corporate bonds
Other loans and advances
Corporate equity issues
Taxes payable

2.3
2.7
6.2
2.6
0.9

1.7
7.7
2.3
3.2
1.2

-0.3
10.7
19.1
3.2
1.4

-4.6
10.5
46.9
3.8
1.7

-2.5
3.7
40.6
3.6
1.9

-0.6
10.6
26.8
4.0
2.1

-2.3
8.3
24.2
7.2
2.4

40
41
42
43
44

45
46
47

Miscellaneous liabilities
Investment by bank holding companies
Other

43.6
40.1
3.5

15.6
28.6
-13.0

71.2
40.7
30.5

28.3
55.3
-27.0

-17.2
2.9
-20.1

124.9
53.6
71.3

-40.5
60.7
-101.2

45
46
47

-22.0

-8.4

41.1

23.0

-48.9

120.5

21.0

48

186.5

119.6

274.9

312.1

318.6

339.5

191.6

49

48

Discrepancy
Memo:

49

Credit market funds advanced (2)

(1) Included in other loans and advances (table F.216).
(2) Total bank credit (line 5) less security credit (line 22) less corporate equities (line 23) less mutual fund shares (line 24) plus customers’ liability on acceptances (line 25).

18

FFA, 1995-2001, September 16, 2002

F.111 Foreign Banking Offices in U.S. (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1

Gross saving

4.5

4.9

5.7

6.6

7.8

9.0

10.2

1

2

Fixed nonresidential investment

2.3

3.3

4.3

5.5

5.9

6.0

6.0

2

3

Net acquisition of financial assets

76.6

48.5

96.5

-4.8

-55.5

38.4

4.8

3

4

Reserves at Federal Reserve

-0.1

0.3

1.8

-1.9

0.4

-1.0

0.2

4

5

Total bank credit

74.7

70.0

60.2

1.5

-25.7

67.2

-7.2

5

6
7
8
9
10

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

43.9
29.6
14.3
0.0
4.6

30.9
18.4
12.4
0.0
3.2

26.8
14.4
12.5
0.0
3.1

-5.0
-10.3
5.2
0.0
5.6

14.6
9.7
4.9
0.0
-4.6

-0.1
-0.5
0.4
0.0
8.3

-12.2
9.8
-22.0
0.0
30.6

6
7
8
9
10

11
12
13
14
15

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

26.2
-0.4
35.4
-5.1
-3.7

36.0
0.5
32.2
-2.9
6.2

30.3
-0.2
19.2
-6.1
17.5

1.0
-0.1
-1.7
-5.7
8.4

-35.7
0.4
-22.4
-4.5
-9.3

59.0
-0.1
14.6
1.2
43.2

-25.6
0.0
-19.1
0.7
-7.2

11
12
13
14
15

16
17
18

Corporate equities
Customers’ liab. on acceptances (2)
Miscellaneous assets

0.0

-0.0

-0.0

0.0

0.0

0.0

0.0

16

-2.9
5.0

-0.6
-21.2

-2.5
37.0

-4.7
0.3

-0.6
-29.7

-0.0
-27.7

-0.6
12.4

17
18

19

Net increase in liabilities

78.5

50.6

98.9

-2.0

-52.4

42.0

8.7

19

20
21
22

Net interbank liabilities
To foreign banks
To domestic banks

18.7
15.1
3.6

-2.5
-11.5
9.0

-30.4
-17.6
-12.7

-55.0
-51.7
-3.3

-45.0
-51.2
6.2

-40.8
-57.1
16.2

-16.2
-35.5
19.2

20
21
22

23
24
25

Checkable deposits
Small time and savings deposits
Large time deposits

-0.1
-0.7
11.0

-0.7
0.1
55.6

0.8
4.4
44.7

-0.2
-3.7
36.3

0.6
-1.8
57.2

-0.4
-0.4
3.4

0.4
4.5
53.3

23
24
25

26
27

Federal funds and security RPs (net)
Acceptance liabilities

1.8
-3.1

12.0
-0.7

25.6
-2.4

19.7
-4.8

-17.9
-0.4

52.3
-0.0

-11.0
-0.9

26
27

28
29
30
31

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

50.9
6.6
6.7
37.6

-13.3
-0.1
13.7
-26.9

56.2
7.7
14.3
34.2

5.8
5.5
11.8
-11.4

-45.0
19.4
2.5
-66.9

27.9
9.7
45.6
-27.5

-21.3
8.4
-30.8
1.1

28
29
30
31

4.1

3.7

3.8

3.9

5.0

6.6

8.1

32

75.4

63.3

40.2

-11.6

-17.0

23.9

-0.6

33

32

Discrepancy
Memo:

33

Credit market funds advanced (3)

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank.
(2) Included in other loans and advances (table F.216).
(3) Total bank credit (line 5) less security credit (line 15) less corporate equities (line 16) plus customers’ liability on acceptances (line 17).

FFA, 1995-2001, September 16, 2002

19

F.112 Bank Holding Companies
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1

Gross saving

25.9

35.0

37.2

34.2

49.9

46.5

54.8

1

2

Fixed nonresidential investment

0.3

0.3

0.3

0.3

0.3

0.3

0.2

2

3

Net acquisition of financial assets

52.6

44.0

64.5

110.6

55.2

100.7

100.5

3

-0.3

3.9

5.4

-0.9

6.2

-12.2

4.2

4

-1.3
-1.2
-0.2
0.6
0.4

0.9
0.6
0.3
2.8
0.2

0.5
-0.1
0.6
5.0
-0.0

-1.9
-3.1
1.1
-0.7
1.7

6.6
7.9
-1.3
1.2
-1.6

-8.5
-7.9
-0.5
-2.8
-0.9

1.8
0.4
1.4
2.1
0.3

5
6
7
8
9

53.0
40.1
8.2
4.6

40.1
28.6
0.3
11.3

59.0
40.7
25.0
-6.7

111.6
55.3
44.1
12.1

49.0
2.9
17.3
28.9

112.9
53.6
38.4
20.9

96.4
60.7
29.8
5.9

10
11
12
13

4
5
6
7
8
9
10
11
12
13

Credit market instruments
U.S. government securities
Treasury
Agency
Corporate and foreign bonds
Bank loans n.e.c.
Miscellaneous assets
Investment in bank subsidiaries
Investment in nonbank subsidiaries
Other

14

Net increase in liabilities

26.8

9.2

27.4

76.6

5.4

54.4

45.8

14

15
16
17

Net interbank liabilities
To domestic banks
To foreign banks

-3.2
0.6
-3.8

7.0
11.2
-4.1

0.3
-0.4
0.8

10.2
9.6
0.6

4.1
8.2
-4.1

6.2
-26.3
32.5

-15.3
-18.5
3.2

15
16
17

18

Federal funds and security RPs (net)

0.4

0.4

0.0

0.5

0.1

-1.6

-0.1

18

19
20
21

Credit market instruments
Commercial paper
Corporate bonds

14.4
-1.4
15.8

2.0
1.9
0.1

19.0
6.0
13.0

24.9
7.8
17.1

25.8
9.1
16.7

23.2
1.2
22.0

23.6
-5.1
28.7

19
20
21

22
23
24
25

Corporate equity issues
Miscellaneous liabilities
Equity, etc.
Other

-11.3
26.6
12.7
13.9

-17.5
17.3
-11.9
29.2

-30.9
39.0
-13.1
52.1

-15.0
56.0
24.7
31.2

-13.8
-10.8
-38.6
27.8

-16.5
43.1
10.3
32.8

-15.3
52.9
-8.9
61.8

22
23
24
25

-0.2

-0.2

-0.2

-0.2

-0.2

-0.1

-0.1

26

26

Discrepancy

F.113 Banks in U.S.-Affiliated Areas (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

Gross saving

0.1

0.2

0.2

0.2

0.2

0.2

0.2

1

2

Fixed nonresidential investment

0.1

0.2

0.2

0.3

0.2

0.2

0.2

2

3

Net acquisition of financial assets

5.9

1.3

5.5

9.8

3.7

4.0

17.0

3

4

Checkable deposits and currency

0.2

-0.2

-0.1

0.6

0.3

-0.5

1.1

4

5

Credit market instruments

4.2

0.7

3.7

6.0

4.4

6.7

10.0

5

6
7
8
9
10

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

1.5
0.2
1.3
0.1
-0.1

-1.0
-1.3
0.2
-0.1
-0.1

2.1
0.1
2.0
-0.0
0.1

3.2
-0.7
3.9
-0.1
0.5

2.6
-0.7
3.3
0.1
-0.5

3.3
-1.0
4.3
0.1
0.3

1.8
-0.6
2.5
-0.2
0.6

6
7
8
9
10

11
12
13

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

1.8
1.0
-0.0

1.4
0.6
-0.1

0.9
0.1
0.5

0.9
1.1
0.4

0.5
0.6
1.2

1.1
1.0
0.8

4.5
-0.9
4.2

11
12
13

1.6

0.8

1.8

3.1

-1.0

-2.1

5.9

14

14
15

Miscellaneous assets

5.5

1.4

5.1

9.4

3.8

3.4

16.4

15

16
17
18

Checkable deposits
Small time and savings deposits
Large time deposits

0.2
1.2
1.2

0.5
0.2
0.2

0.4
-0.0
-0.0

1.2
1.0
1.0

0.0
0.8
0.8

-0.1
1.4
1.4

3.1
4.6
4.6

16
17
18

19

Miscellaneous liabilities

2.9

0.6

4.7

6.3

2.2

0.7

4.2

19

-0.4

0.1

-0.4

-0.4

0.1

-0.6

-0.5

20

20

Net increase in liabilities

Discrepancy

(1) Commercial banks and branches of U.S.-chartered commercial banks located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas.

20

FFA, 1995-2001, September 16, 2002

F.114 Savings Institutions (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1

Gross saving

4.6

0.5

2.9

4.2

7.1

7.0

7.8

1

2

Fixed nonresidential investment

2.6

3.2

3.5

3.9

3.9

3.6

3.3

2

3

Net acquisition of financial assets

0.9

16.1

-8.4

60.9

61.9

67.2

81.0

3

4
5
6
7

Reserves at Federal Reserve
Checkable deposits and currency
Time and savings deposits
Federal funds and security RPs

-0.1
1.6
-0.2
4.8

-0.5
-1.3
0.3
-1.2

-0.5
1.0
-0.4
-0.8

0.1
3.2
0.5
5.5

2.8
-1.0
-0.1
-4.2

-3.1
1.6
0.1
4.3

0.6
2.0
0.8
12.5

4
5
6
7

8

Credit market instruments

-7.6

19.9

-4.7

36.2

67.7

56.2

42.8

8

9
10
11
12

Open market paper
U.S. government securities
Treasury
Agency

0.0
-4.1
-8.7
4.7

0.1
-9.5
-1.0
-8.5

-0.3
-3.6
-2.8
-0.8

0.0
-16.0
-4.4
-11.6

0.0
3.4
-0.0
3.4

0.0
-8.1
-1.4
-6.7

0.0
23.7
2.7
21.0

9
10
11
12

13
14
15
16
17

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

-0.0
-8.2
2.5
0.6
1.6

0.1
-9.9
3.0
31.6
4.6

0.0
-9.9
3.1
3.5
2.5

0.4
29.9
5.3
12.1
4.4

0.5
23.3
6.5
24.1
9.9

0.2
-2.5
8.7
54.9
3.0

1.3
-25.6
3.6
35.3
4.5

13
14
15
16
17

0.7
1.7

0.6
-1.8

0.2
-3.2

1.5
13.8

-0.7
-2.7

0.4
7.7

3.2
19.1

18
19

18
19

Corporate equities
Miscellaneous assets

20

Net increase in liabilities

-3.2

15.4

-9.5

57.7

60.8

66.3

78.3

20

21
22
23
24

Deposits
Checkable
Small time and savings
Large time

-5.7
14.1
-29.0
9.2

-6.5
25.4
-38.1
6.3

-25.7
27.1
-64.4
11.7

-2.6
36.1
-54.3
15.7

6.1
36.8
-39.2
8.5

27.5
43.4
-35.8
19.9

46.8
50.7
-30.7
26.9

21
22
23
24

25

Security RPs

-0.0

-0.9

-1.9

9.5

21.4

-6.0

5.8

25

26
27
28
29

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

2.6
-0.0
5.2
-2.6

25.5
-0.4
1.4
24.5

19.7
0.1
3.5
16.2

52.2
-0.2
10.3
42.1

48.0
0.2
-15.7
63.5

27.3
3.5
7.4
16.3

7.4
-2.6
1.5
8.5

26
27
28
29

30
31
32
33

Taxes payable
Miscellaneous liabilities
Investment by parent
Other

0.5
-0.6
0.1
-0.7

-0.1
-2.5
0.2
-2.7

0.4
-2.1
0.3
-2.4

0.2
-1.5
0.4
-1.9

0.0
-14.7
0.5
-15.3

0.4
17.1
0.7
16.5

-0.7
19.0
0.8
18.2

30
31
32
33

-2.1

-3.3

-1.6

-2.9

2.2

2.4

1.9

34

34

Discrepancy

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

FFA, 1995-2001, September 16, 2002

21

F.115 Credit Unions
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1

Gross saving

5.9

6.3

5.2

5.4

6.0

6.9

7.0

1

2

Fixed nonresidential investment

1.2

1.7

2.0

2.5

2.6

2.5

2.5

2

3

Net acquisition of financial assets

17.1

19.5

23.7

37.7

23.0

26.5

64.4

3

4
5
6

Checkable deposits and currency
Time and savings deposits
Federal funds and security RPs

0.9
0.4
0.2

0.1
-0.7
-4.9

0.6
0.6
2.0

1.0
6.4
3.4

17.3
-6.8
2.4

-14.2
0.5
-5.3

7.6
8.4
-1.5

4
5
6

7

Credit market instruments

16.2

25.5

16.8

18.9

27.5

28.0

41.5

7

8
9
10
11

Open market paper
U.S. government securities
Treasury
Agency

-1.6
1.1
-3.8
4.9

-0.3
4.1
-0.9
4.9

-0.1
-1.4
-1.8
0.4

0.2
4.9
-2.5
7.3

1.5
-0.6
-3.5
2.9

-0.6
-1.8
-1.4
-0.4

1.2
18.8
-0.8
19.6

8
9
10
11

12
13

Home mortgages
Consumer credit

4.4
12.3

9.5
12.2

10.1
8.2

10.8
3.0

14.1
12.5

13.8
16.5

16.4
5.1

12
13

14
15

Mutual fund shares
Miscellaneous assets

0.2
-0.8

-0.3
-0.2

-0.2
3.8

1.2
6.8

-1.1
-16.4

-0.3
18.0

1.5
6.9

14
15

16

Net increase in liabilities

13.4

16.4

20.5

34.7

20.8

22.0

60.8

16

17
18
19
20

Shares/deposits
Checkable
Small time and savings
Large time

15.4
2.1
11.6
1.7

16.3
1.6
12.3
2.4

20.3
4.1
13.2
2.9

33.6
6.4
23.1
4.1

17.7
2.3
12.3
3.1

22.4
5.9
13.0
3.5

61.1
3.5
48.6
9.0

17
18
19
20

21
22

Other loans and advances
Miscellaneous liabilities

-0.1
-1.9

0.1
0.0

0.1
0.1

0.6
0.5

2.2
0.9

0.0
-0.4

1.5
-1.8

21
22

1.0

1.5

-0.0

-0.1

1.1

-0.2

0.9

23

23

Discrepancy

F.116 Bank Personal Trusts and Estates (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

Net acquisition of financial assets

7.7

-7.3

-44.7

-41.6

-8.2

-30.6

-26.5

1

2
3
4
5

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

3.3
0.1
-0.5
3.7

6.4
0.3
-1.6
7.8

-2.9
0.0
1.0
-4.0

6.2
-0.5
-2.1
8.8

8.4
-0.1
0.9
7.5

4.3
-0.0
0.6
3.7

4.1
-0.0
0.3
3.8

2
3
4
5

6

Credit market instruments

-8.3

-7.7

-25.0

-12.8

27.8

17.1

10.4

6

7
8
9
10

Open market paper
U.S. government securities
Treasury
Agency

0.7
-1.2
-2.5
1.3

-2.6
0.5
-1.8
2.3

-0.2
-10.1
-5.4
-4.7

-4.5
-4.4
-3.1
-1.4

0.6
5.7
-0.0
5.7

0.6
3.8
-0.8
4.6

-4.0
1.5
-1.6
3.1

7
8
9
10

11
12
13

Municipal securities
Corporate and foreign bonds
Mortgages

-5.9
-1.7
-0.1

-4.3
-1.7
0.3

-13.3
-0.8
-0.6

-1.1
-2.6
-0.2

10.8
11.3
-0.6

4.7
8.1
-0.1

1.8
11.2
-0.1

11
12
13

14
15

Corporate equities
Mutual fund shares

1.6
11.9

-17.3
7.3

-0.5
-14.9

-70.4
27.0

-40.4
-1.5

-20.0
-30.5

-20.0
-20.0

14
15

16

Miscellaneous assets

-0.9

3.9

-1.4

8.4

-2.5

-1.5

-1.0

16

6.4

-5.3

-49.9

-41.8

-6.5

-29.7

-26.3

17

-1.3

2.1

-5.3

-0.2

1.7

0.9

0.2

18

17

Net increase in liabilities (2)

18

Discrepancy

(1) Includes personal trusts and estates administered by nondeposit noninsured trust companies.
(2) Equal to the net acquisition of tangible and financial assets. These liabilities are assets of the household sector.

22

FFA, 1995-2001, September 16, 2002

F.117 Life Insurance Companies
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1

Gross saving

-1.3

2.5

-5.9

-7.5

-2.4

-3.8

-3.2

1

2

Fixed nonresidential investment

13.6

10.2

10.5

11.8

12.1

13.2

13.3

2

3

Net acquisition of financial assets

145.5

125.4

213.7

187.0

169.3

203.5

250.6

3

4
5

Checkable deposits and currency
Money market fund shares

-0.5
6.6

-0.9
39.1

3.8
32.6

-2.7
17.6

0.0
23.4

-0.5
8.5

31.9
43.0

4
5

6

Credit market instruments

100.0

69.6

104.8

76.9

53.5

57.9

130.9

6

7
8
9
10

Open market paper
U.S. government securities
Treasury
Agency

-7.3
9.8
1.0
8.7

2.9
-13.6
-14.9
1.3

17.5
-1.4
1.6
-3.0

7.5
-23.7
-14.1
-9.6

2.0
-2.3
-9.3
7.0

-4.5
6.3
-4.6
11.0

-11.9
13.7
-4.4
18.1

7
8
9
10

11
12
13
14

Municipal securities
Corporate and foreign bonds
Policy loans
Mortgages

-0.9
90.7
10.4
-2.6

1.5
79.2
4.5
-5.0

0.1
86.8
3.2
-1.3

1.7
84.5
0.1
6.8

1.7
41.5
-5.0
15.7

-1.0
49.0
2.9
5.2

-0.4
120.2
2.2
7.1

11
12
13
14

18.6
13.5

46.7
2.4

86.3
-7.2

115.3
-23.4

111.9
15.0

105.9
11.0

70.3
2.0

15
16

7.2

-31.4

-6.7

3.5

-34.6

20.7

-27.5

17

15
16

Corporate equities
Mutual fund shares

17

Miscellaneous assets

18

Net increase in liabilities

118.9

92.1

186.0

173.1

152.9

195.1

248.5

18

19
20
21
22

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

-3.6
-0.1
44.8
42.6

-8.8
1.1
43.8
27.0

-4.0
0.2
57.6
95.0

-4.7
0.7
46.7
122.6

-6.0
0.7
49.4
91.8

-0.8
-0.7
48.7
142.6

-0.9
0.6
75.8
138.5

19
20
21
22

23
24

Taxes payable
Miscellaneous liabilities

1.6
33.5

0.5
28.5

1.2
36.0

1.2
6.6

1.3
15.7

1.6
3.6

2.0
32.4

23
24

-41.5

-41.0

-44.1

-33.3

-30.9

-25.4

-18.6

25

25

Discrepancy

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 24).

F.118 Other Insurance Companies
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

Gross saving

3.6

1.9

0.9

3.5

3.2

8.1

-4.5

1

2

Fixed nonresidential investment

10.6

6.8

8.5

10.5

12.2

11.7

9.2

2

3

Net acquisition of financial assets

37.0

16.2

37.1

16.5

-9.0

8.9

16.6

3

4
5

Checkable deposits and currency
Security RPs

-0.2
8.1

-0.9
-2.1

0.3
-0.2

-0.2
7.4

0.2
-14.4

-0.6
10.0

9.4
-8.1

4
5

6

Credit market instruments

21.5

22.5

25.2

5.8

-3.0

-8.7

9.0

6

2.8
0.5
2.3

-9.7
-12.6
2.8

3.8
2.1
1.7

-21.9
-20.8
-1.2

-3.9
-9.7
5.9

0.0
-8.6
8.6

10.1
-0.0
10.1

7
8
9

7.0
12.7
-1.0

14.4
18.3
-0.4

2.6
18.9
-0.2

16.5
11.6
-0.3

-9.1
10.0
-0.0

-14.9
6.4
-0.3

-10.3
8.9
0.2

10
11
12

-0.6
4.4
3.8

-6.8
-0.1
3.6

3.0
2.7
6.1

-5.0
1.6
6.9

-1.7
2.0
7.7

0.7
1.0
6.4

-0.3
5.3
1.3

13
14
15

7
8
9
10
11
12
13
14
15

U.S. government securities
Treasury
Agency
Municipal securities
Corporate and foreign bonds
Commercial mortgages
Corporate equities
Trade receivables
Miscellaneous assets

16

Net increase in liabilities

21.8

10.0

-1.2

2.9

8.0

3.6

29.8

16

17
18
19

Corporate equity issues
Taxes payable
Miscellaneous liabilities

-2.2
1.2
22.8

-4.8
2.5
12.3

-13.7
1.8
10.7

-4.7
2.0
5.6

-7.8
2.0
13.8

-4.5
2.3
5.8

0.5
2.7
26.5

17
18
19

-22.2

-11.1

-45.8

-20.7

8.1

-8.8

-0.5

20

20

Discrepancy

FFA, 1995-2001, September 16, 2002

23

F.119 Private Pension Funds (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1

Gross saving

0.5

0.5

0.6

0.8

0.8

0.9

0.8

1

2

Fixed nonresidential investment

1.1

1.4

1.5

2.0

1.9

1.9

1.6

2

3

Net acquisition of financial assets

32.2

4.6

-11.4

-9.2

-12.0

-9.6

-17.6

3

4
5
6
7

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

0.7
4.5
6.0
-0.0

0.6
5.3
10.8
4.6

1.3
7.5
13.1
0.9

-1.0
28.3
1.9
1.2

1.0
-3.0
11.7
-0.1

0.4
2.9
4.6
0.9

-1.0
4.2
-10.6
0.8

4
5
6
7

8

Credit market instruments

19.9

-4.1

47.6

-23.4

17.0

33.4

20.3

8

0.5
5.3
2.6
2.7

5.6
-13.3
-2.7
-10.5

1.2
11.8
4.1
7.7

3.0
-47.6
-31.0
-16.6

3.2
11.3
-2.7
14.0

-1.7
15.1
-1.4
16.5

1.7
7.4
-4.2
11.6

9
10
11
12

13.4
0.6

2.9
0.6

33.8
0.7

21.5
-0.3

1.6
0.9

18.8
1.2

9.8
1.3

13
14

-69.5
45.0

-71.5
23.0

-137.8
42.7

-26.5
-3.5

-29.1
1.6

-49.9
1.2

-33.3
-3.8

15
16

9
10
11
12

Open market paper
U.S. government securities
Treasury
Agency

13
14

Corporate and foreign bonds
Mortgages

15
16

Corporate equities
Mutual fund shares

17
18
19
20

Miscellaneous assets
Unallocated insurance contracts (2)
Contributions receivable
Other

25.7
17.7
4.1
3.9

35.9
14.4
4.1
17.4

13.5
-1.0
7.1
7.4

13.8
-14.8
21.4
7.2

-11.0
-7.7
-4.8
1.5

-3.1
-11.8
1.2
7.4

5.8
2.4
1.3
2.1

17
18
19
20

21

Pension fund reserves (liabilities) (3)

32.8

5.5

-10.4

-7.9

-10.9

-8.6

-16.8

21

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans). Also includes the Federal Employees Retirement System Thrift Savings Plan.
(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.
(3) Equal to the net acquisition of tangible and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector.

F.120 State and Local Government Employee Retirement Funds
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

Gross saving

0.4

0.5

0.6

0.7

0.8

0.9

1.0

1

2

Fixed nonresidential investment

0.9

1.4

1.5

1.7

1.8

1.9

1.9

2

3

Net acquisition of financial assets

62.1

59.9

75.6

60.4

58.8

53.1

25.6

3

4
5
6

Checkable deposits and currency
Time and savings deposits
Security RPs

-2.5
2.0
3.7

3.3
-2.2
-3.3

-2.2
0.1
0.4

4.7
-0.4
8.9

-0.7
-0.3
2.8

-0.1
-0.6
4.3

0.4
-0.4
0.6

4
5
6

7

Credit market instruments

38.3

35.8

67.1

72.1

46.9

54.6

-17.7

7

8
9
10
11

Open market paper
U.S. government securities
Treasury
Agency

3.7
23.1
-0.2
23.2

-3.3
17.3
11.8
5.5

0.4
31.8
13.4
18.4

8.9
19.9
0.8
19.1

2.8
16.4
-6.6
22.9

4.3
22.1
-15.5
37.6

0.6
-32.9
-18.3
-14.5

8
9
10
11

12
13
14

Municipal securities
Corporate and foreign bonds
Mortgages

0.7
10.1
0.7

-1.3
22.2
0.8

0.9
33.1
0.9

1.7
35.1
6.5

-0.2
30.4
-2.6

-1.5
29.7
-0.0

-0.2
11.4
3.4

12
13
14

18.2
2.5

18.2
8.2

9.4
0.7

-28.2
3.3

-6.2
16.3

-18.4
13.3

22.3
20.3

15
16

62.6

60.8

76.5

61.5

59.8

54.1

26.5

17

15
16
17

Corporate equities
Miscellaneous assets
Pension fund reserves (liabilities) (1)

(1) Equal to the net acquisition of tangible and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector.

24

FFA, 1995-2001, September 16, 2002

F.121 Money Market Mutual Funds (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1

Net acquisition of financial assets

141.2

145.4

155.9

287.2

249.1

233.3

428.6

1

2
3
4
5

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

4.0
-1.0
20.9
19.0

3.4
2.4
30.4
16.0

0.1
2.6
28.6
22.8

7.4
-2.6
15.7
12.9

12.2
-1.2
33.3
0.1

48.2
4.5
-18.0
43.4

33.1
2.3
77.1
44.0

2
3
4
5

6

Credit market instruments

86.5

88.8

87.5

244.0

182.0

143.0

246.0

6

7
8
9
10

Open market paper
U.S. government securities
Treasury
Agency

48.4
17.5
3.8
13.7

38.4
31.3
20.3
11.0

62.1
-9.5
-4.0
-5.5

78.2
95.0
17.5
77.5

104.7
17.3
0.1
17.1

89.6
-19.1
-13.3
-5.8

30.3
178.5
45.3
133.2

7
8
9
10

11
12

Municipal securities
Corporate and foreign bonds

14.3
6.4

16.8
2.4

22.5
12.5

26.0
44.8

17.5
42.5

34.3
38.2

36.2
1.1

11
12

11.6

4.4

14.3

9.6

22.6

12.2

26.1

13

141.2

145.4

155.9

287.2

249.1

233.3

428.6

14

13
14

Miscellaneous assets
Net share issues (liabilities)

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

F.122 Mutual Funds (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

Gross saving

2

Net acquisition of financial assets

9.3

5.6

8.0

-8.4

4.7

-4.1

-0.9

1

147.4

237.6

265.1

279.5

191.2

235.0

201.4

2

7.1

-2.7

10.3

13.1

9.9

25.6

-31.6

3

52.5

48.9

80.9

127.3

48.4

21.0

126.0

4

Open market paper
U.S. government securities
Treasury
Agency

7.1
18.9
13.4
5.5

-3.1
15.1
-18.0
33.1

10.6
19.5
10.6
8.9

13.1
26.2
4.6
21.6

9.9
12.5
-23.7
36.2

25.6
10.6
6.4
4.2

-31.6
76.6
-8.6
85.2

5
6
7
8

Municipal securities
Corporate and foreign bonds

3.2
23.3

3.1
33.8

6.5
44.4

22.8
65.2

-3.2
29.2

-8.9
-6.2

23.0
58.1

9
10

87.4
0.5

193.0
-1.7

166.8
7.1

143.3
-4.2

136.4
-3.5

189.1
-0.7

109.7
-2.6

11
12

147.4

237.6

265.1

279.5

191.2

235.0

201.4

13

9.3

5.6

8.0

-8.4

4.7

-4.1

-0.9

14

3

Security RPs

4

Credit market instruments

5
6
7
8
9
10
11
12

Corporate equities
Miscellaneous assets

13

Net share issues (liabilities)

14

Discrepancy

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

F.123 Closed-End and Exchange-Traded Funds
Billions of dollars; quarterly figures are seasonally adjusted annual rates
Closed-end funds
1
2
3
4
5
6
7

Net acquisition of financial assets

6.3

3.0

-7.6

-7.8

-7.5

-4.3

-3.9

1

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

10.2
-1.5
6.1
5.7

4.6
0.2
1.3
3.2

-2.5
-1.2
-0.8
-0.4

5.5
-0.9
1.9
4.5

7.4
-1.3
8.7
-0.0

-4.7
-0.3
-2.1
-2.3

-1.7
-1.7
4.6
-4.6

2
3
4
5

Corporate equities

-4.0

-1.6

-5.1

-13.3

-14.9

0.4

-2.2

6

6.3

3.0

-7.6

-7.8

-7.5

-4.3

-3.9

7

Net share issues (liabilities)
Exchange-traded funds

8

Net acquisition of financial assets (1)

0.4

1.1

3.4

6.0

12.2

42.4

31.0

8

9

Net share issues (liabilities)

0.4

1.1

3.4

6.0

12.2

42.4

31.0

9

(1) Corporate equities.

FFA, 1995-2001, September 16, 2002

25

F.124 Government-Sponsored Enterprises (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1

Gross saving

1.7

1.7

1.9

2.1

2.8

2.8

3.0

1

2

Fixed nonresidential investment

0.2

0.3

0.3

0.3

0.5

0.7

0.6

2

3

Net acquisition of financial assets

115.1

91.7

110.8

304.4

316.7

248.8

334.3

3

4
5

Checkable deposits and currency
Federal funds and security RPs

0.2
20.5

-0.8
-11.8

1.2
-4.1

2.5
-13.4

7.4
12.7

-9.7
-14.8

1.7
11.9

4
5

6

Credit market instruments

95.3

97.1

106.3

314.0

291.3

256.4

309.0

6

7
8
9
10

Open market paper
U.S. government securities
Treasury
Agency

-0.8
66.4
6.1
60.3

9.6
54.3
-12.9
67.2

-1.1
76.1
7.1
69.0

26.9
162.3
-0.7
163.1

-27.1
184.5
5.8
178.7

10.9
155.2
10.2
145.0

35.6
177.9
-8.7
186.6

7
8
9
10

11
12

Municipal securities
Corporate and foreign bonds

2.0
10.3

0.0
10.8

-0.4
5.3

4.1
20.7

1.4
23.7

-1.8
25.8

6.0
15.5

11
12

13
14
15
16

Other loans and advances
Sallie Mae
Farm Credit System
FHLB loans

11.2
0.9
3.9
6.4

28.8
-1.7
1.4
29.1

31.2
-5.3
0.0
36.4

92.3
-1.4
3.3
90.4

113.6
5.1
0.9
107.6

41.3
-3.9
3.1
42.1

40.1
2.4
2.9
34.9

13
14
15
16

17
18
19
20

Mortgages
Home
Multifamily residential
Farm

6.3
5.9
0.5
-0.1

-6.4
-6.7
-0.8
1.1

-4.7
-4.2
-1.5
1.0

7.7
5.3
0.2
2.2

-4.8
-10.3
4.4
1.1

25.0
15.8
7.3
2.0

33.9
20.2
9.4
4.3

17
18
19
20

-0.9

7.1

7.4

1.3

5.4

16.8

11.6

21

111.8

90.7

106.2

298.6

312.1

241.5

327.1

22

105.9
105.9
0.0

90.4
90.4
0.0

98.4
98.4
0.0

278.3
278.3
0.0

318.2
318.2
0.0

234.1
234.1
0.0

290.8
290.8
0.0

23
24
25

5.8

0.3

7.8

20.3

-6.0

7.4

36.3

26

-1.8

0.5

-3.0

-4.1

-2.3

-5.2

-4.7

27

21
22
23
24
25
26
27

Miscellaneous assets
Net increase in liabilities
Credit market instruments
GSE issues (2)
U.S. government loans
Miscellaneous liabilities
Discrepancy

(1) Federal Home Loan Banks, Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Farm Credit System, the Financing Corporation, the Resolution
Funding Corporation, and the Student Loan Marketing Association (Sallie Mae), which is a subsidiary of USA Education, Inc., a private company chartered in 1997.
(2) Such issues are classified as U.S. government securities.

F.125 Federally Related Mortgage Pools (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

Net acquisition of financial assets

98.3

141.0

114.6

192.6

273.8

199.4

338.5

1

2
3
4
5

Home mortgages
Multifamily residential mortgages
Commercial mortgages
Farm mortgages

93.8
4.5
-0.0
-0.0

135.4
5.6
-0.0
-0.0

109.3
5.3
-0.0
-0.0

182.1
10.5
0.0
-0.0

264.6
9.2
0.0
-0.0

190.9
8.5
0.0
0.0

322.9
15.6
0.0
0.0

2
3
4
5

98.3

141.0

114.6

192.6

273.8

199.4

338.5

6

6

Net increase in pool securities (liabilities)(2)

(1) GNMA, FNMA, FHLMC, and Farmers Home Administration pools. Also includes federally related pools that are used as collateral for federally related agency-issued CMOs and
privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans.
(2) Such issues are classified as U.S. government securities.

26

FFA, 1995-2001, September 16, 2002

F.126 Issuers of Asset-Backed Securities (ABSs)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1

Gross saving

0.5

1.4

2.1

2.6

2.4

1.7

1.6

1

2

Fixed nonresidential investment

1.8

6.7

4.2

4.4

-0.5

-1.5

1.9

2

3

Net acquisition of financial assets

141.1

145.5

200.1

319.6

226.3

199.3

309.2

3

4

Agency securities (1)

23.0

4.9

4.4

38.0

40.2

4.3

42.2

4

5
6
7

Other loans and advances
Student loans
Loans to business

6.9
1.0
5.9

13.3
5.3
8.1

32.2
7.8
24.4

27.6
3.8
23.8

9.2
1.5
7.7

21.2
6.5
14.7

13.2
0.9
12.4

5
6
7

8
9
10
11

Mortgages (2)
Home
Multifamily residential
Commercial

25.1
18.4
2.1
4.6

48.1
31.8
4.0
12.2

79.9
54.5
5.0
20.4

156.8
94.5
12.9
49.4

93.1
49.9
8.5
34.7

83.7
44.8
6.5
32.4

145.8
91.4
8.2
46.2

8
9
10
11

12
13

Consumer credit
Trade credit

65.6
20.5

54.2
25.0

47.2
36.3

59.4
37.9

62.6
21.1

57.1
33.0

82.0
25.9

12
13

142.4

150.8

202.2

321.4

223.4

196.2

309.4

14

37.3
105.1

45.4
105.4

89.4
112.9

125.7
195.8

139.0
84.4

121.0
75.1

103.5
206.0

15
16

0.0

0.0

0.0

0.0

0.0

-0.0

0.0

17

1.3
-1.3

5.3
-0.3

2.1
3.7

1.8
2.9

-2.9
-1.0

-3.2
-2.2

0.3
-0.8

18
19

14
15
16

Net increase in liabilities
Commercial paper
Corporate bonds

17

Discrepancy

18
19

Memo:
Securitized assets not included above
Consumer leases (3)
REIT assets (4)

(1) Federally related mortgage pool securities backing privately issued CMOs.
(2) Mortgages backing privately issued pool securities and privately issued CMOs.
(3) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).
The leased automobile is a tangible asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
(4) Included in table F.129.

F.127 Finance Companies (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

Gross saving

20.4

24.3

25.2

28.7

36.4

37.5

36.9

1

2

Fixed nonresidential investment

19.2

23.2

25.9

29.4

44.3

41.7

33.0

2

3

Net acquisition of financial assets

72.7

44.4

47.1

88.8

150.3

134.9

17.7

3

4

Checkable deposits and currency

1.7

1.9

2.1

2.3

2.5

2.6

2.9

4

5
6
7
8

Credit market instruments
Other loans and advances
Mortgages
Consumer credit

49.9
26.7
5.6
17.7

18.9
3.1
13.1
2.8

23.1
-0.6
11.0
12.6

77.3
36.8
24.7
15.8

97.0
54.2
24.6
18.2

108.0
63.3
26.4
18.2

-5.7
-11.5
-11.0
16.8

5
6
7
8

Miscellaneous assets

21.0

23.5

22.0

9.3

50.9

24.3

20.5

9

72.7

51.0

38.7

75.8

138.0

164.9

20.1

10

50.2
-2.9
52.6
0.5

50.6
9.4
36.8
4.5

57.8
24.6
28.7
4.5

57.1
30.7
24.2
2.2

70.3
-2.9
64.3
8.9

81.2
8.4
72.2
0.5

-0.2
-80.3
65.2
14.9

11
12
13
14

9
10

Net increase in liabilities

11
12
13
14

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

15

Taxes payable

16
17
18
19

Miscellaneous liabilities
Foreign direct investment in U.S.
Investment by parent
Other

20

Discrepancy

21

Memo:
Consumer leases not included above (2)

(1) Includes retail captive finance companies.
(2) See footnote (3), table F.126.

0.7

0.8

0.8

0.8

0.8

1.0

1.2

15

21.8
2.8
9.3
9.8

-0.4
5.1
3.5
-9.1

-20.0
6.6
-7.5
-19.1

17.8
2.6
-12.8
28.0

66.9
13.2
53.5
0.1

82.8
14.9
14.7
53.2

19.1
7.8
-3.3
14.6

16
17
18
19

1.2

7.7

-9.2

-13.8

-20.3

25.7

6.3

20

13.4

12.3

5.6

-2.2

6.3

5.3

-4.6

21

FFA, 1995-2001, September 16, 2002

27

F.128 Mortgage Companies
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1

Net acquisition of financial assets

-3.4

8.2

-9.1

3.2

0.3

0.2

1.4

1

2
3
4

Home mortgages
Multifamily residential mortgages
Commercial mortgages

-4.5
1.1
0.0

8.2
-0.1
0.0

-10.2
1.0
0.0

3.1
0.1
0.0

0.3
0.0
0.0

0.2
0.0
0.0

1.3
0.1
0.0

2
3
4

-3.4

8.2

-9.1

3.2

0.3

0.2

1.4

5

-2.2
-1.2

4.1
4.1

-4.6
-4.6

1.6
1.6

0.2
0.2

0.1
0.1

0.7
0.7

6
7

5
6
7

Net increase in liabilities
Bank loans n.e.c.
Investment by parent

F.129 Real Estate Investment Trusts (REITs)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

Gross saving

3.0

4.1

6.8

8.2

8.4

0.0

-1.8

1

2
3

Fixed nonresidential investment
Multifamily residential investment

7.0
2.7

17.8
4.4

52.0
11.3

64.7
11.4

9.2
1.6

0.4
0.1

3.3
0.6

2
3

4

Net acquisition of financial assets

2.3

4.9

26.1

6.4

-2.3

-6.3

8.1

4

5

Checkable deposits and currency

0.0

2.2

1.1

0.8

0.3

-0.0

0.9

5

6

Credit market instruments

1.4

4.4

20.2

-5.1

-2.6

-6.3

6.7

6

Agency securities
Corporate and foreign bonds

-0.2
0.8

3.2
1.4

9.0
2.1

-8.1
-0.4

1.1
-0.3

0.3
-0.4

5.8
2.1

7
8

Mortgages
Home
Multifamily residential
Commercial

0.8
1.9
-0.6
-0.5

-0.3
1.1
-0.4
-1.0

9.1
6.0
0.9
2.2

3.4
0.8
0.1
2.5

-3.3
-2.4
-0.6
-0.4

-6.2
-4.6
-0.2
-1.4

-1.1
0.1
-0.3
-1.0

9
10
11
12

7
8
9
10
11
12
13
14

Miscellaneous assets
Net increase in liabilities

1.0

-1.7

4.9

10.7

-0.1

0.0

0.5

13

15.8

29.5

92.2

86.4

17.7

3.0

15.5

14

15

Security RPs

1.2

2.8

11.2

-9.8

0.5

-3.8

7.8

15

16

Credit market instruments

4.5

11.9

39.6

62.7

6.3

2.7

2.5

16

-0.0
0.2
-1.0
5.3

0.0
1.3
2.7
7.9

0.0
14.8
9.9
14.9

0.2
21.7
16.0
24.8

-0.1
8.9
-7.6
5.1

0.0
4.8
-8.3
6.2

0.7
3.8
-3.3
1.3

17
18
19
20

8.7
1.4

12.3
2.5

32.5
8.8

19.8
13.6

6.6
4.4

2.2
1.8

5.1
0.1

21
22

6.7

6.6

9.5

11.9

17.7

8.9

1.7

23

-1.3
-2.3
0.9
0.0
0.0

-0.3
0.3
-0.8
0.3
0.0

3.7
0.4
3.1
0.2
0.0

2.9
0.1
1.8
0.4
0.6

-1.0
-1.3
0.0
0.1
0.1

-2.2
-0.2
-0.9
-0.5
-0.6

-0.8
-0.9
-0.2
0.1
0.2

24
25
26
27
28

17
18
19
20
21
22

Open market paper
Corporate bonds
Bank loans n.e.c.
Mortgages
Corporate equity issues
Miscellaneous liabilities

23

Discrepancy

24
25
26
27
28

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

28

FFA, 1995-2001, September 16, 2002

F.130 Security Brokers and Dealers
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1

Gross saving

2.3

3.9

9.2

5.3

2.5

-9.1

7.1

1

2

Fixed nonresidential investment

9.0

9.8

11.8

15.7

18.7

26.8

23.1

2

3

Net acquisition of financial assets

113.4

68.2

142.8

142.0

79.8

220.4

244.3

3

4

Checkable deposits and currency

5

Credit market instruments

6
7
8
9
10
11
12
13
14

Open market paper
U.S. government securities
Treasury
Agency
Municipal securities
Corporate and foreign bonds
Corporate equities
Security credit
Miscellaneous assets

1.7

1.9

6.0

3.7

3.3

1.6

16.8

4

90.1

-15.7

14.9

6.8

-34.7

68.9

92.4

5

10.9
70.0
61.0
9.0
-2.7
12.0

1.6
-29.9
-31.1
1.2
-1.9
14.5

0.6
2.7
7.5
-4.8
2.4
9.2

3.8
21.7
21.2
0.5
-0.1
-18.6

-2.0
-43.4
-58.4
15.0
-1.2
12.0

13.2
37.1
39.4
-2.3
-0.7
19.3

9.0
27.2
13.1
14.1
7.7
48.6

6
7
8
9
10
11

7.7
3.5
10.3

-1.9
15.8
68.2

2.4
36.8
82.8

-6.0
21.6
115.9

7.7
75.2
28.3

9.6
7.2
133.0

17.3
-38.8
156.6

12
13
14

15

Net increase in liabilities

117.4

71.4

141.3

146.2

88.1

243.3

256.0

15

16
17
18

Security RPs (net)
Corporate bonds
Corporate equity issues

79.0
-5.0
-8.1

-1.5
-2.0
-6.5

22.7
8.1
-5.9

4.6
7.2
2.5

37.1
-17.2
7.6

56.9
15.6
-4.2

51.0
1.4
6.7

16
17
18

19
20
21
22
23

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

1.1
23.1
18.6
4.6
-0.1

4.0
36.6
35.3
1.3
0.1

5.7
74.2
52.6
21.7
0.1

-1.0
81.6
61.2
20.3
-0.1

11.9
29.2
47.2
-18.0
0.9

5.1
138.9
88.6
50.4
-0.1

3.3
41.9
41.9
0.0
-0.2

19
20
21
22
23

24
25
26
27

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

12.6
1.5
22.5
-11.4

28.4
1.3
45.7
-18.7

21.6
0.3
75.9
-54.6

44.7
1.7
97.4
-54.3

7.5
3.6
61.8
-57.9

-1.9
5.1
38.6
-45.6

138.5
-1.3
46.2
93.6

24
25
26
27

14.7

12.4

14.9

6.6

11.1

33.0

13.3

28

-2.6

-2.7

-4.1

-6.2

-7.9

-13.0

-4.4

29

11.3

105.1

118.2

102.7

247.3

121.8

-6.7

1

28
29

Proprietors’ net investment
Discrepancy

F.131 Funding Corporations (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

Net acquisition of financial assets

2

Money market fund shares

3
4
5

Credit market instruments
Open market paper
Corporate and foreign bonds

6
7
8

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

9

Net increase in liabilities

10
11
12

Credit market instruments
Open market paper
Corporate bonds

13
14
15
16

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

2.4

27.3

10.4

57.9

48.9

33.5

117.5

2

-15.7
-25.4
9.8

12.6
-0.2
12.8

50.4
53.8
-3.4

-15.8
-20.3
4.5

124.0
127.8
-3.8

34.4
34.2
0.1

-109.6
-150.5
40.8

3
4
5

24.5
6.7
17.8

65.2
13.7
51.5

57.3
14.3
43.0

60.7
11.8
48.9

74.4
2.5
71.9

54.0
45.6
8.3

-14.5
-30.8
16.3

6
7
8

11.3

105.1

118.2

102.7

247.3

121.8

-6.7

9

34.9
10.5
24.4

63.8
34.5
29.2

79.9
49.4
30.6

40.0
6.0
34.0

91.5
34.1
57.4

-0.4
-2.3
1.9

-55.2
-77.4
22.2

10
11
12

-23.7
-10.4
-5.5
-7.8

41.4
1.5
59.9
-20.0

38.2
-22.6
57.2
3.6

62.8
20.7
70.0
-27.9

155.9
-17.0
16.3
156.7

122.2
54.3
88.7
-20.8

48.6
40.7
70.1
-62.2

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.

FFA, 1995-2001, September 16, 2002

29

F.200 Gold and Official Foreign Exchange Holdings (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

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

1996

1997

1998

1999

2000

2001

9.6

-6.7

1.0

6.8

-8.7

0.3

4.9

1

0.8

-0.4

0.4

0.1

-0.0

0.7

0.6

2

0.8
-0.0

-0.4
-0.0

0.4
-0.0

0.1
-0.0

-0.0
0.0

0.7
-0.0

0.6
-0.0

3
4

8.8

-6.3

0.7

6.6

-8.7

-0.4

4.3

5

Official foreign currency holdings
Treasury
Monetary authority

6.3
3.2
3.2

-7.6
-3.8
-3.8

-2.9
-1.5
-1.5

1.5
0.8
0.8

-3.3
-1.6
-1.6

1.9
0.9
0.9

0.7
0.3
0.3

6
7
8

Net IMF position
Federal government
Monetary authority

2.5
2.5
0.0

1.3
1.3
0.0

3.6
3.6
0.0

5.1
5.1
0.0

-5.5
-5.5
0.0

-2.3
-2.3
0.0

3.6
3.6
0.0

9
10
11

(1) Lines 1, 2, and 3 exclude increases in SDRs through allocations, which have occurred at various dates beginning January 1970. Transactions in SDRs are included. Also excluded from the table
are revaluations of foreign currency holdings, gold, SDRs, and IMF position. Allocations and revaluations are included in tables on outstandings.

F.201 SDR Certificates and Treasury Currency
Billions of dollars; quarterly figures are seasonally adjusted annual rates
SDR certificates:
1
2

Liab: Federal government
Asset: Monetary authority

2.2
2.2

-0.5
-0.5

-0.5
-0.5

0.0
0.0

-3.0
-3.0

-4.0
-4.0

0.0
0.0

1
2

Treasury currency:
3
4

Liab: Federal government
Asset: Monetary authority

0.7
1.0

0.5
1.0

0.5
0.6

0.6
0.7

1.0
1.7

2.4
3.6

-0.0
1.4

3
4

5

Discrepancy (seigniorage)

-0.3

-0.4

-0.2

-0.1

-0.7

-1.2

-1.4

5

35.3

85.9

107.7

6.5

61.0

135.1

28.0

1

4.6
1.7
4.0

12.4
10.8
3.4

6.5
-5.1
0.1

0.1
7.4
7.4

5.2
0.9
12.2

15.0
16.0
48.2

-5.0
-10.4
33.1

2
3
4

25.0

59.4

106.2

-8.5

42.6

55.9

10.3

5

F.202 U.S. Deposits in Foreign Countries
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

2
3
4
5

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

30

FFA, 1995-2001, September 16, 2002

F.203 Net Interbank Transactions
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1

Net change in liabilities

2
3
4

Monetary authority
Depository institution reserves
Vault cash

5
6

Commercial banking
To monetary authority

7

To banks in foreign countries

1996

1997

1998

1999

2000

2001

10.0

-51.6

-19.7

-31.8

15.0

15.1

-31.7

1

1.3
-1.2
2.4

-0.5
-5.1
4.6

6.1
6.3
-0.2

-7.5
-4.5
-2.9

22.2
-2.3
24.5

-27.1
-5.0
-22.2

1.4
-1.6
2.9

2
3
4

8.7
0.7

-51.2
4.1

-25.8
-1.6

-24.4
-1.1

-7.2
-1.7

42.3
1.0

-33.1
-1.0

5
6

11.1

-52.0

-4.3

-27.1

-5.7

20.8

-49.3

7

8
9
10
11

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

10.7
-2.7
-14.7
-12.0

-46.8
-31.1
-1.9
29.2

-4.2
13.6
46.3
32.7

-32.0
23.0
23.6
0.5

-7.0
48.4
30.0
-18.4

21.8
45.8
75.2
29.5

-48.0
-15.7
17.7
33.5

8
9
10
11

12
13
14

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

17.3
15.5
-1.7

-11.5
10.6
22.1

-18.5
-10.7
7.8

-55.7
33.3
88.9

-51.2
14.9
66.1

-56.5
-14.3
42.2

-35.5
27.9
63.3

12
13
14

15
16
17

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

-3.8
-1.1
2.7

-4.1
-0.2
3.9

0.8
0.3
-0.4

0.6
-0.1
-0.7

-4.1
5.5
9.6

32.5
30.9
-1.6

3.2
12.1
8.8

15
16
17

18
19
20

Less: Deposits at foreign banks
U.S.-chartered commercial banks
Foreign banking offices in U.S.

-0.4
-2.5
2.1

5.2
5.2
-0.0

0.2
1.0
-0.9

-5.0
-1.0
-4.0

-1.3
-1.3
-0.0

1.0
0.4
0.6

1.3
1.3
-0.0

18
19
20

-3.1

-3.3

-19.9

3.8

0.1

20.4

17.2

21

-7.3
-8.1
-4.9
-0.1
-3.1

-23.5
-6.6
-3.0
-0.3
-3.3

-6.7
-14.7
5.4
-0.2
-19.9

-2.5
6.4
2.0
0.6
3.8

-14.3
16.3
16.4
-0.3
0.1

30.5
11.2
-9.1
-0.1
20.4

16.5
1.5
-15.8
0.1
17.2

22
23
24
25
26

-1.3
0.5

6.0
10.9

-7.4
-0.6

-1.3
10.2

22.6
8.0

7.1
-26.4

3.4
-18.4

27
28

21
22
23
24
25
26

27
28

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

29
30
31

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

3.6
-1.3
-4.9

9.0
6.0
-3.0

-12.7
-7.4
5.4

-3.3
-1.3
2.0

6.2
22.6
16.4

16.2
7.1
-9.1

19.2
3.4
-15.8

29
30
31

32
33
34

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

0.6
0.5
-0.1

11.2
10.9
-0.3

-0.4
-0.6
-0.2

9.6
10.2
0.6

8.2
8.0
-0.3

-26.3
-26.4
-0.1

-18.5
-18.4
0.1

32
33
34

13.1

-48.3

0.2

-35.6

14.9

-5.3

-48.9

35

11.1

-52.0

-4.3

-27.1

-5.7

20.8

-49.3

36

2.0

3.7

4.5

-8.6

20.6

-26.1

0.4

37

35

Net change in assets

36

Rest of the world

37

Domestic

38
39
40

Monetary authority
Federal Reserve float
Loans to member banks

0.7
0.8
-0.1

4.1
4.2
-0.1

-1.6
-3.6
2.0

-1.1
0.9
-2.0

-1.7
-1.9
0.2

1.0
1.1
-0.1

-1.0
-0.9
-0.1

38
39
40

41
42
43

Commercial banking
Reserves at Federal Reserve
Vault cash

1.4
-1.1
2.4

-0.0
-4.6
4.6

6.6
6.8
-0.2

-7.6
-4.6
-2.9

19.4
-5.1
24.5

-24.1
-1.9
-22.2

0.7
-2.2
2.9

41
42
43

Savings insts.: Reserves at Fed. Res.

-0.1

-0.5

-0.5

0.1

2.8

-3.1

0.6

44

-3.1

-3.3

-19.9

3.8

0.1

20.4

17.2

45

44
45

Discrepancy--floats, etc.

FFA, 1995-2001, September 16, 2002

31

F.204 Checkable Deposits and Currency
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1

Net change in liabilities

2
3
4
5

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

6
7
8
9

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

1996

1997

1998

1999

2000

2001

-12.8

15.7

41.2

47.3

151.2

-71.4

202.6

1

16.9
-1.2
0.1
18.0

23.3
1.7
-0.2
21.8

29.9
-2.3
0.3
31.9

38.3
0.5
-0.3
38.0

108.7
22.3
-0.1
86.4

-35.3
-22.9
0.1
-12.5

48.0
1.5
-0.2
46.7

2
3
4
5

-45.9
-4.7
0.9
-42.1

-34.6
9.7
2.8
-47.1

-19.8
-0.9
4.8
-23.7

-33.5
-14.6
-1.5
-17.4

3.4
36.4
13.4
-46.4

-85.5
-33.2
-9.7
-42.6

100.4
43.5
0.5
56.3

6
7
8
9

14.1
2.1

25.4
1.6

27.1
4.1

36.1
6.4

36.8
2.3

43.4
5.9

50.7
3.5

10
11

10
11

Savings institutions
Credit unions

12

Net change in assets

-12.8

15.7

41.2

47.3

151.2

-71.4

202.6

12

13

Household sector

-40.8

-73.2

-33.7

-27.3

-61.2

-23.4

24.2

13

14
15
16
17

Nonfinancial business
Corporate
Nonfarm noncorporate
Farm

18.2
4.5
13.2
0.5

58.5
39.3
19.3
-0.0

30.0
7.6
22.2
0.2

69.0
35.2
32.1
1.7

81.4
38.9
41.9
0.6

28.7
8.6
20.0
0.2

23.6
7.6
15.6
0.4

14
15
16
17

18
19

State and local governments
Federal government

3.4
-0.0

-5.5
11.0

4.4
-0.5

-3.9
-16.7

3.9
66.2

1.0
-65.1

5.1
41.1

18
19

20
21
22

Rest of the world
Checkable deposits
Currency

13.4
1.1
12.3

19.9
2.6
17.4

29.9
5.1
24.8

14.8
-1.8
16.6

39.9
13.3
26.6

-8.4
-9.5
1.1

24.2
0.4
23.8

20
21
22

23

Financial sectors

2.9

8.5

17.8

11.8

29.2

-14.9

76.0

23

0.2
1.6
0.9
0.1

-0.2
-1.3
0.1
0.3

-0.1
1.0
0.6
0.0

0.6
3.2
1.0
-0.5

0.3
-1.0
17.3
-0.1

-0.5
1.6
-14.2
-0.0

1.1
2.0
7.6
-0.0

24
25
26
27

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

-0.5
-0.2
0.7
-2.5

-0.9
-0.9
0.6
3.3

3.8
0.3
1.3
-2.2

-2.7
-0.2
-1.0
4.7

0.0
0.2
1.0
-0.7

-0.5
-0.6
0.4
-0.1

31.9
9.4
-1.0
0.4

28
29
30
31

32
33
34
35
36

Money market mutual funds
Government-sponsored enterprises
Finance companies
REITs
Brokers and dealers

-1.0
0.2
1.7
0.0
1.7

2.4
-0.8
1.9
2.2
1.9

2.6
1.2
2.1
1.1
6.0

-2.6
2.5
2.3
0.8
3.7

-1.2
7.4
2.5
0.3
3.3

4.5
-9.7
2.6
-0.0
1.6

2.3
1.7
2.9
0.9
16.8

32
33
34
35
36

-9.8

-3.6

-6.6

-0.5

-8.2

10.7

8.5

37

37

Mail float

32

FFA, 1995-2001, September 16, 2002

F.205 Time and Savings Deposits
Billions of dollars; quarterly figures are seasonally adjusted annual rates

1
2

Net change in liabilities
Small time and savings deposits

1995

1996

1997

1998

1999

2000

2001

162.2

211.3

219.6

244.2

176.2

305.0

335.8

1

96.6

97.2

97.1

152.4

45.1

188.8

267.2

2

3
4
5
6

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

113.9
113.4
-0.7
1.2

123.1
122.8
0.1
0.2

148.3
143.9
4.4
-0.0

183.7
186.4
-3.7
1.0

72.0
73.0
-1.8
0.8

211.6
210.6
-0.4
1.4

249.4
240.4
4.5
4.6

3
4
5
6

7
8

Savings institutions
Credit unions

-29.0
11.6

-38.1
12.3

-64.4
13.2

-54.3
23.1

-39.2
12.3

-35.8
13.0

-30.7
48.6

7
8

9

Large time deposits (1)

65.6

114.0

122.5

91.8

131.1

116.2

68.6

9

54.8
42.6
11.0
1.2

105.3
49.5
55.6
0.2

107.9
63.2
44.7
-0.0

72.1
34.8
36.3
1.0

119.6
61.6
57.2
0.8

92.8
87.9
3.4
1.4

32.7
-25.2
53.3
4.6

10
11
12
13

9.2
1.7

6.3
2.4

11.7
2.9

15.7
4.1

8.5
3.1

19.9
3.5

26.9
9.0

14
15

10
11
12
13

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

14
15

Savings institutions
Credit unions

16

Net change in assets

162.2

211.3

219.6

244.2

176.2

305.0

335.8

16

17

Household sector

127.1

153.3

131.9

166.5

55.5

262.0

200.7

17

18
19
20

Nonfinancial business
Corporate
Nonfarm noncorporate

7.6
3.3
4.3

3.5
-0.0
3.5

30.4
19.7
10.7

2.3
-6.8
9.1

70.0
46.8
23.2

41.3
17.3
24.0

47.5
27.2
20.3

18
19
20

21
22
23

State and local governments
Federal government
Rest of the world

6.6
0.3
-6.6

10.6
1.4
10.9

5.8
1.0
13.1

12.8
1.3
13.0

11.0
0.7
15.0

9.4
1.0
5.8

7.7
4.2
-14.5

21
22
23

24

Financial sectors

27.2

31.5

37.5

48.3

24.0

-14.5

90.3

24

25
26
27

Savings institutions
Credit unions
Bank personal trusts and estates

-0.2
0.4
-0.5

0.3
-0.7
-1.6

-0.4
0.6
1.0

0.5
6.4
-2.1

-0.1
-6.8
0.9

0.1
0.5
0.6

0.8
8.4
0.3

25
26
27

28
29
30

Private pension funds
State and local govt. retirement funds
Money market mutual funds

4.5
2.0
20.9

5.3
-2.2
30.4

7.5
0.1
28.6

28.3
-0.4
15.7

-3.0
-0.3
33.3

2.9
-0.6
-18.0

4.2
-0.4
77.1

28
29
30

(1) Large time deposits are those issued in amounts of $100,000 or more.

F.206 Money Market Mutual Fund Shares
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

Net issues

141.2

145.4

155.9

287.2

249.1

233.3

428.6

1

2

Net purchases

141.2

145.4

155.9

287.2

249.1

233.3

428.6

2

3
4
5

Household sector
Nonfinancial corporate business
Nonfarm noncorporate business

97.7
22.9
1.9

50.5
7.7
2.2

79.9
20.2
3.7

164.9
26.5
9.7

126.1
23.1
8.5

133.2
40.4
9.5

168.0
97.2
9.7

3
4
5

6
7
8
9

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

3.7
6.6
6.0
2.4

7.8
39.1
10.8
27.3

-4.0
32.6
13.1
10.4

8.8
17.6
1.9
57.9

7.5
23.4
11.7
48.9

3.7
8.5
4.6
33.5

3.8
43.0
-10.6
117.5

6
7
8
9

FFA, 1995-2001, September 16, 2002

33

F.207 Federal Funds and Security Repurchase Agreements
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1

1997

1998

1999

2000

2001

110.5

41.4

120.9

91.3

169.8

113.2

24.0

1

2
3
4
5

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

30.4
28.2
1.8
0.4

41.0
28.7
12.0
0.4

89.0
63.4
25.6
0.0

87.0
66.8
19.7
0.5

110.8
128.5
-17.9
0.1

66.1
15.4
52.3
-1.6

-40.5
-29.5
-11.0
-0.1

2
3
4
5

6
7
8

Savings institutions
REITs
Brokers and dealers (net)

-0.0
1.2
79.0

-0.9
2.8
-1.5

-1.9
11.2
22.7

9.5
-9.8
4.6

21.4
0.5
37.1

-6.0
-3.8
56.9

5.8
7.8
51.0

6
7
8

84.9

39.1

57.8

33.6

134.1

-5.4

76.3

9

9

Net change in liabilities

1996

Net change in assets

10
11
12

Nonfinancial corporate business
State and local governments
Rest of the world

0.3
-3.0
21.0

1.5
32.1
3.2

0.7
3.6
20.0

-0.4
7.2
-18.8

1.6
5.0
8.0

2.4
9.7
11.4

-0.2
-18.4
59.4

10
11
12

13
14
15
16

Financial sectors
Monetary authority
Savings institutions
Credit unions

66.5
3.3
4.8
0.2

2.3
7.7
-1.2
-4.9

33.6
2.3
-0.8
2.0

45.6
6.5
5.5
3.4

119.6
110.3
-4.2
2.4

-28.8
-97.3
4.3
-5.3

35.5
6.9
12.5
-1.5

13
14
15
16

8.1
-0.0
3.7
19.0
7.1
20.5

-2.1
4.6
-3.3
16.0
-2.7
-11.8

-0.2
0.9
0.4
22.8
10.3
-4.1

7.4
1.2
8.9
12.9
13.1
-13.4

-14.4
-0.1
2.8
0.1
9.9
12.7

10.0
0.9
4.3
43.4
25.6
-14.8

-8.1
0.8
0.6
44.0
-31.6
11.9

17
18
19
20
21
22

25.7

2.4

63.2

57.7

35.7

118.6

-52.2

23

74.3

102.6

184.1

193.1

229.9

207.6

-164.4

1

75.1

101.6

186.8

202.5

232.8

208.2

-161.2

2

Nonfinancial corporate business
Foreign issues in U.S.
Nonfinancial
Financial

18.1
13.5
5.4
8.1

-0.9
11.3
-1.9
13.2

13.7
3.7
-2.3
6.0

24.4
7.8
-1.6
9.4

37.4
16.3
8.2
8.1

48.1
31.7
10.9
20.8

-88.3
-14.2
-23.3
9.1

3
4
5
6

7
8
9
10
11
12

Financial sectors
Commercial banking
ABS issuers
Finance companies
REITs
Funding corporations

43.4
-1.4
37.3
-2.9
-0.0
10.5

91.3
1.9
45.4
9.4
0.0
34.5

169.4
6.0
89.4
24.6
0.0
49.4

170.3
7.8
125.7
30.7
0.2
6.0

179.2
9.1
139.0
-2.9
-0.1
34.1

128.4
1.2
121.0
8.4
0.0
-2.3

-58.7
-5.1
103.5
-80.3
0.7
-77.4

7
8
9
10
11
12

13

Bankers acceptances (1)

-0.8

1.0

-2.7

-9.4

-2.9

-0.7

-3.2

13

14

Net purchases, by sector

74.3

102.6

184.1

193.1

229.9

207.6

-164.4

14

17
18
19
20
21
22
23

Other insurance companies
Private pension funds
State and local govt. retirement funds
Money market mutual funds
Mutual funds
Government-sponsored enterprises
Discrepancy--unallocated assets

F.208 Open Market Paper
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
2
3
4
5
6

Total net issues, all types
Commercial paper

15
16
17
18

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

1.3
1.3
17.1
18.6

6.7
11.4
20.3
14.4

1.5
4.6
14.3
19.9

7.5
3.3
28.0
37.6

4.1
8.2
6.9
-13.0

4.9
13.8
7.6
9.5

-19.4
-4.9
-26.5
6.2

15
16
17
18

19
20
21
22
23

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

0.0
-0.1
0.0
-1.6
0.7

0.0
0.8
0.1
-0.3
-2.6

0.0
-0.8
-0.3
-0.1
-0.2

0.0
-0.2
0.0
0.2
-4.5

0.0
0.3
0.0
1.5
0.6

0.0
0.2
0.0
-0.6
0.6

0.0
0.0
0.0
1.2
-4.0

19
20
21
22
23

24
25
26

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

-7.3
0.5
3.7

2.9
5.6
-3.3

17.5
1.2
0.4

7.5
3.0
8.9

2.0
3.2
2.8

-4.5
-1.7
4.3

-11.9
1.7
0.6

24
25
26

27
28
29
30
31

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

48.4
7.1
-0.8
10.9
-25.4

38.4
-3.1
9.6
1.6
-0.2

62.1
10.6
-1.1
0.6
53.8

78.2
13.1
26.9
3.8
-20.3

104.7
9.9
-27.1
-2.0
127.8

89.6
25.6
10.9
13.2
34.2

30.3
-31.6
35.6
9.0
-150.5

27
28
29
30
31

(1) Excludes banks’ holdings of own acceptances.

34

FFA, 1995-2001, September 16, 2002

F.209 Treasury Securities
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

142.9

146.6

23.2

-54.6

-71.0

-294.9

-5.0

1

5.1
137.9

2.0
144.5

-0.5
23.7

0.1
-54.7

-0.2
-70.8

-1.7
-293.2

5.6
-10.6

2
3

142.9

146.6

23.2

-54.6

-71.0

-294.9

-5.0

4

Household sector
Savings bonds
Other Treasury issues

-22.5
5.1
-27.6

-10.3
2.0
-12.4

-145.5
-0.5
-145.0

-37.7
0.1
-37.8

37.5
-0.2
37.7

-168.3
-1.7
-166.6

-61.1
5.6
-66.7

5
6
7

8
9
10

Nonfinancial corporate business
Nonfarm noncorporate business
State and local governments

6.3
5.3
-80.2

-10.0
4.9
-32.8

-20.2
3.7
-17.7

-3.2
5.7
30.0

-4.2
-0.9
-2.5

-1.7
-5.2
-30.6

3.5
-1.5
20.3

8
9
10

11
12

Rest of the world
Monetary authority

160.5
13.7

262.7
12.7

123.7
39.8

18.7
21.4

-32.3
25.8

-87.2
33.7

3.1
40.0

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

-11.7
-40.4
29.6
-1.2
0.2

-16.9
-34.7
18.4
0.6
-1.3

8.3
-6.1
14.4
-0.1
0.1

-56.0
-42.0
-10.3
-3.1
-0.7

14.8
-2.0
9.7
7.9
-0.7

-44.4
-35.0
-0.5
-7.9
-1.0

-21.9
-31.4
9.8
0.4
-0.6

13
14
15
16
17

18
19
20

Savings institutions
Credit unions
Bank personal trusts and estates

-8.7
-3.8
-2.5

-1.0
-0.9
-1.8

-2.8
-1.8
-5.4

-4.4
-2.5
-3.1

-0.0
-3.5
-0.0

-1.4
-1.4
-0.8

2.7
-0.8
-1.6

18
19
20

21
22
23
24

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

1.0
0.5
2.6
-0.2

-14.9
-12.6
-2.7
11.8

1.6
2.1
4.1
13.4

-14.1
-20.8
-31.0
0.8

-9.3
-9.7
-2.7
-6.6

-4.6
-8.6
-1.4
-15.5

-4.4
-0.0
-4.2
-18.3

21
22
23
24

25
26
27
28
29

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

3.8
13.4
-1.5
6.1
61.0

20.3
-18.0
0.2
-12.9
-31.1

-4.0
10.6
-1.2
7.1
7.5

17.5
4.6
-0.9
-0.7
21.2

0.1
-23.7
-1.3
5.8
-58.4

-13.3
6.4
-0.3
10.2
39.4

45.3
-8.6
-1.7
-8.7
13.1

25
26
27
28
29

144.4

144.9

23.1

-52.6

-71.2

-295.9

-5.6

30

1
2
3
4
5
6
7

Net issues
Savings bonds
Other Treasury issues
Net purchases

1997

1998

1999

2000

2001

Memo:
30

Federal government borrowing (1)

(1) Total issues of Treasury securities (table F.209, line 1) plus budget agency securities (table F.210, line 2) and federal mortgage borrowing (table F.217, line 12).

FFA, 1995-2001, September 16, 2002

35

F.210 Agency Securities (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates

1
2
3
4
5
6
7
8

Net issues
Budget agencies
Government-sponsored enterprises
Federally related mortgage pools
Net purchases
Household sector
Nonfinancial corporate business
State and local governments

1995

1996

1997

1998

1999

2000

2001

205.7

229.8

212.8

472.9

591.7

432.5

628.8

1

1.5
105.9
98.3

-1.6
90.4
141.0

-0.1
98.4
114.6

2.0
278.3
192.6

-0.2
318.2
273.8

-1.0
234.1
199.4

-0.5
290.8
338.5

2
3
4

205.7

229.8

212.8

472.9

591.7

432.5

628.8

5

22.8
3.5
-35.1

87.0
5.1
-35.3

29.2
-20.5
-0.8

25.3
2.6
63.6

129.2
1.8
11.0

39.7
2.7
13.5

-106.9
7.0
29.8

6
7
8

9
10
11

Federal government
Rest of the world
Monetary authority

0.0
17.6
-1.0

0.0
26.8
-0.4

0.0
30.3
-1.5

0.0
11.1
-0.3

0.0
63.4
-0.2

0.0
137.3
-0.1

0.0
107.2
-0.1

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

38.7
23.4
14.3
-0.2
1.3

28.2
15.3
12.4
0.3
0.2

75.5
60.4
12.5
0.6
2.0

92.0
81.7
5.2
1.1
3.9

36.4
29.4
4.9
-1.3
3.3

22.3
18.2
0.4
-0.5
4.3

55.6
73.7
-22.0
1.4
2.5

12
13
14
15
16

17
18
19

Savings institutions
Credit unions
Bank personal trusts and estates

4.7
4.9
1.3

-8.5
4.9
2.3

-0.8
0.4
-4.7

-11.6
7.3
-1.4

3.4
2.9
5.7

-6.7
-0.4
4.6

21.0
19.6
3.1

17
18
19

20
21
22
23

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

8.7
2.3
2.7
23.2

1.3
2.8
-10.5
5.5

-3.0
1.7
7.7
18.4

-9.6
-1.2
-16.6
19.1

7.0
5.9
14.0
22.9

11.0
8.6
16.5
37.6

18.1
10.1
11.6
-14.5

20
21
22
23

24
25
26

Money market mutual funds
Mutual funds
Government-sponsored enterprises

13.7
5.5
60.3

11.0
33.1
67.2

-5.5
8.9
69.0

77.5
21.6
163.1

17.1
36.2
178.7

-5.8
4.2
145.0

133.2
85.2
186.6

24
25
26

27
28
29

ABS issuers
REITs
Brokers and dealers

23.0
-0.2
9.0

4.9
3.2
1.2

4.4
9.0
-4.8

38.0
-8.1
0.5

40.2
1.1
15.0

4.3
0.3
-2.3

42.2
5.8
14.1

27
28
29

(1) Agency securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as FNMA and FHLB;
and federally related mortgage-backed securities issued by GNMA, FNMA, FHLMC, and the Farmers Home Administration (line 4). Only the budget agency issues are considered
officially to be part of the total borrowing of the federal government, which is shown in table F.209, line 30.

36

FFA, 1995-2001, September 16, 2002

F.211 Municipal Securities and Loans
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1

Net change in liabilities

2
3
4

State and local governments
Short-term (1)
Long-term

5

Nonprofit organizations (2)
Nonfinancial corporate business
(industrial revenue bonds)

6
7

Net change in assets

1996

1997

1998

1999

2000

2001

-48.2

2.6

71.4

96.8

68.2

35.3

117.6

1

-51.9
1.2
-53.2

-7.2
6.3
-13.4

57.3
8.3
49.0

79.1
-6.3
85.4

52.7
3.6
49.1

28.2
3.2
25.0

103.0
20.6
82.4

2
3
4

0.7

6.6

10.0

12.0

10.4

5.8

11.3

5

3.1

3.1

4.2

5.8

5.1

1.4

3.3

6

-48.2

2.6

71.4

96.8

68.2

35.3

117.6

7

8
9
10
11

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

-44.8
-19.9
0.6
-3.5

-22.2
-5.8
0.4
-0.5

52.4
-3.6
0.5
-0.7

18.2
-1.6
-0.4
-1.4

37.9
-0.7
-0.2
-1.5

24.2
-2.1
0.9
0.6

47.7
-6.7
0.4
0.3

8
9
10
11

12
13
14

Commercial banking
Savings institutions
Bank personal trusts and estates

-4.2
-0.0
-5.9

0.9
0.1
-4.3

2.4
0.0
-13.3

8.2
0.4
-1.1

5.9
0.5
10.8

3.4
0.2
4.7

6.1
1.3
1.8

12
13
14

15
16
17

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

-0.9
7.0
0.7

1.5
14.4
-1.3

0.1
2.6
0.9

1.7
16.5
1.7

1.7
-9.1
-0.2

-1.0
-14.9
-1.5

-0.4
-10.3
-0.2

15
16
17

18
19
20
21
22

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

14.3
3.2
6.1
2.0
-2.7

16.8
3.1
1.3
0.0
-1.9

22.5
6.5
-0.8
-0.4
2.4

26.0
22.8
1.9
4.1
-0.1

17.5
-3.2
8.7
1.4
-1.2

34.3
-8.9
-2.1
-1.8
-0.7

36.2
23.0
4.6
6.0
7.7

18
19
20
21
22

344.1

361.3

430.8

563.7

462.2

400.8

653.4

1

91.1
57.1

116.3
67.0

150.5
61.4

218.7
34.9

229.9
14.1

171.1
23.9

332.6
-12.1

2
3

(1) Debt with original maturity of 13 months or less.
(2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100).

F.212 Corporate and Foreign Bonds
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

Net issues

2
3

Nonfinancial corporate business
Rest of the world (1)

4
5
6

Financial sectors
Commercial banking
Savings institutions

195.9
18.5
-0.0

178.1
7.8
-0.4

218.9
23.7
0.1

310.2
27.6
-0.2

218.2
20.4
0.2

205.8
32.6
3.5

332.9
37.0
-2.6

4
5
6

7
8
9
10
11

ABS issuers
Finance companies
REITs
Brokers and dealers
Funding corporations

105.1
52.6
0.2
-5.0
24.4

105.4
36.8
1.3
-2.0
29.2

112.9
28.7
14.8
8.1
30.6

195.8
24.2
21.7
7.2
34.0

84.4
64.3
8.9
-17.2
57.4

75.1
72.2
4.8
15.6
1.9

206.0
65.2
3.8
1.4
22.2

7
8
9
10
11

12

344.1

361.3

430.8

563.7

462.2

400.8

653.4

12

13
14
15

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

93.5
7.1
50.1

87.6
10.7
71.8

101.8
1.3
68.4

108.9
10.2
106.1

46.8
10.1
144.4

-13.3
3.7
168.4

43.0
9.4
205.7

13
14
15

16
17
18

Commercial banking
Savings institutions
Bank personal trusts and estates

8.4
-8.2
-1.7

1.4
-9.9
-1.7

27.8
-9.9
-0.8

37.8
29.9
-2.6

39.6
23.3
11.3

58.1
-2.5
8.1

97.8
-25.6
11.2

16
17
18

19
20
21
22

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

90.7
12.7
13.4
10.1

79.2
18.3
2.9
22.2

86.8
18.9
33.8
33.1

84.5
11.6
21.5
35.1

41.5
10.0
1.6
30.4

49.0
6.4
18.8
29.7

120.2
8.9
9.8
11.4

19
20
21
22

23
24
25

Money market mutual funds
Mutual funds
Closed-end funds

6.4
23.3
5.7

2.4
33.8
3.2

12.5
44.4
-0.4

44.8
65.2
4.5

42.5
29.2
-0.0

38.2
-6.2
-2.3

1.1
58.1
-4.6

23
24
25

26
27
28
29

Government-sponsored enterprises
REITs
Brokers and dealers
Funding corporations

10.3
0.8
12.0
9.8

10.8
1.4
14.5
12.8

5.3
2.1
9.2
-3.4

20.7
-0.4
-18.6
4.5

23.7
-0.3
12.0
-3.8

25.8
-0.4
19.3
0.1

15.5
2.1
48.6
40.8

26
27
28
29

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

FFA, 1995-2001, September 16, 2002

37

F.213 Corporate Equities (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1

Net issues

1998

1999

2000

2001

-0.2

-4.7

-79.9

-165.8

-34.3

-37.8

75.5

1

-69.5

-114.4

-267.0

-143.5

-159.7

-61.8

2

Rest of the world (2)

65.4

82.8

57.6

101.3

114.3

103.6

106.8

3

Financial sectors
Commercial banking
Life insurance companies
Other insurance companies
Closed-end funds
Exchange-traded funds
REITs
Brokers and dealers

-7.3
-8.7
-3.6
-2.2
6.3
0.4
8.7
-8.1

-18.1
-14.3
-8.8
-4.8
3.0
1.1
12.3
-6.5

-23.0
-27.7
-4.0
-13.7
-7.6
3.4
32.5
-5.9

-0.1
-11.2
-4.7
-4.7
-7.8
6.0
19.8
2.5

-5.1
-10.2
-6.0
-7.8
-7.5
12.2
6.6
7.6

18.3
-12.5
-0.8
-4.5
-4.3
42.4
2.2
-4.2

30.5
-8.1
-0.9
0.5
-3.9
31.0
5.1
6.7

4
5
6
7
8
9
10
11

Nonfinancial corporate business

3

12

1997

-58.3

2

4
5
6
7
8
9
10
11

1996

Net purchases

13
14
15

Household sector
State and local governments
Rest of the world (3)

16
17
18

Commercial banking
Savings institutions
Bank personal trusts and estates

19
20
21
22

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

23
24
25
26

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

-0.2

-4.7

-79.9

-165.8

-34.3

-37.8

75.5

12

-91.6
12.1
16.5

-192.5
14.5
11.1

-292.5
16.8
67.0

-335.2
9.4
42.0

-327.4
3.5
112.3

-490.6
-1.2
193.5

-266.9
22.8
121.4

13
14
15

2.1
0.7
1.6

1.8
0.6
-17.3

0.6
0.2
-0.5

1.3
1.5
-70.4

2.0
-0.7
-40.4

0.3
0.4
-20.0

0.2
3.2
-20.0

16
17
18

18.6
-0.6
-69.5
18.2

46.7
-6.8
-71.5
18.2

86.3
3.0
-137.8
9.4

115.3
-5.0
-26.5
-28.2

111.9
-1.7
-29.1
-6.2

105.9
0.7
-49.9
-18.4

70.3
-0.3
-33.3
22.3

19
20
21
22

87.4
-4.0
0.4
7.7

193.0
-1.6
1.1
-1.9

166.8
-5.1
3.4
2.4

143.3
-13.3
6.0
-6.0

136.4
-14.9
12.2
7.7

189.1
0.4
42.4
9.6

109.7
-2.2
31.0
17.3

23
24
25
26

(1) Excludes mutual fund shares shown on table F.214.
(2) Net purchases of foreign issues by U.S. residents; includes American Depositary Receipts (ADRs).
(3) Net purchases of U.S. issues by foreign residents.

F.214 Mutual Fund Shares
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

Net issues

147.4

237.6

265.1

279.5

191.2

235.0

201.4

1

2

Net purchases

147.4

237.6

265.1

279.5

191.2

235.0

201.4

2

3
4
5

Household sector
Nonfinancial corporate business
State and local governments

66.0
4.6
5.9

195.5
3.3
6.0

259.6
-8.2
-7.4

280.7
10.3
-12.3

158.2
12.5
4.3

237.4
12.9
0.8

214.0
-5.2
5.1

3
4
5

6
7
8

Commercial banking
Credit unions
Bank personal trusts and estates

0.3
0.2
11.9

0.3
-0.3
7.3

0.8
-0.2
-14.9

-0.4
1.2
27.0

2.3
-1.1
-1.5

2.5
-0.3
-30.5

7.8
1.5
-20.0

6
7
8

Life insurance companies
Private pension funds

13.5
45.0

2.4
23.0

-7.2
42.7

-23.4
-3.5

15.0
1.6

11.0
1.2

2.0
-3.8

9
10

9
10

38

FFA, 1995-2001, September 16, 2002

F.215 Bank Loans Not Elsewhere Classified
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1

Total loans by commercial
banking, flow of funds basis

239.8

174.2

234.7

253.2

200.5

369.7

70.5

1

2
3
4
5

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

-0.1
77.5
43.2
4.6

0.8
55.2
24.8
1.3

-0.8
99.9
-14.2
21.7

-0.2
91.7
-3.6
20.3

0.3
158.4
-9.2
-18.0

0.2
164.6
41.7
50.4

0.0
129.8
16.6
0.0

2
3
4
5

6

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

114.7

92.1

128.2

145.0

69.0

112.8

-75.8

6

77.0
35.4
0.4
1.8

58.2
32.2
0.2
1.4

108.1
19.2
-0.0
0.9

144.1
-1.7
1.7
0.9

92.4
-22.4
-1.6
0.5

98.1
14.6
-0.9
1.1

-61.6
-19.1
0.3
4.5

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

11

12

= Total bank loans n.e.c.

114.7

92.1

128.2

145.0

69.0

112.8

-75.8

12

13

Net change in liabilities

114.7

92.1

128.2

145.0

69.0

112.8

-75.8

13

112.2

79.5

114.9

114.8

83.2

113.1

-89.6

14

17.4
74.5
10.7
1.1

0.5
40.4
28.9
0.6

8.0
51.1
43.8
3.5

6.1
72.0
28.9
1.2

-7.0
60.8
29.9
-0.9

6.7
62.4
29.9
2.7

-16.8
-72.0
6.4
-0.0

15
16
17
18

8.5
0.4
2.1
5.9

9.1
0.3
3.4
5.4

8.5
-0.8
-0.5
9.8

6.6
0.7
-0.7
6.6

0.5
0.2
-3.2
3.5

11.4
0.6
3.4
7.4

-7.3
0.8
-7.4
-0.7

19
20
21
22

2.5

12.6

13.3

30.1

-14.2

-0.2

13.8

23

5.2
0.5
-2.2
-1.0

1.4
4.5
4.1
2.7

3.5
4.5
-4.6
9.9

10.3
2.2
1.6
16.0

-15.7
8.9
0.2
-7.6

7.4
0.5
0.1
-8.3

1.5
14.9
0.7
-3.3

24
25
26
27

14

Nonfinancial sectors

15
16
17
18

Household sector
Corporate business
Nonfarm noncorporate business
Farm business

19
20
21
22

Rest of the world
Foreign official institutions
Foreign banks
Other foreign

23
24
25
26
27

Financial sectors
Savings institutions
Finance companies
Mortgage companies
REITs

FFA, 1995-2001, September 16, 2002

39

F.216 Other Loans and Advances
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1

Total other loans and advances

70.1

57.7

93.2

166.3

158.5

142.7

50.3

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

13.0
11.3
1.9
1.2
-1.2
0.5
-0.8
0.0

0.0
3.1
-1.3
-0.3
-1.1
0.4
-0.7
0.0

9.6
11.4
-0.3
1.8
-0.5
-1.2
-1.6
0.0

14.4
10.6
-0.1
4.0
-0.3
1.2
-1.0
0.0

5.9
12.6
-0.3
-0.9
-0.3
-0.4
-4.8
0.0

8.2
11.2
-0.4
-1.1
0.1
-1.0
-0.6
0.0

7.1
11.5
-0.2
-3.2
0.0
0.2
-1.1
0.0

2
3
4
5
6
7
8
9

10
11

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

0.0
0.0

3.9
3.9

17.3
17.3

-1.0
-1.0

-22.7
-22.7

-2.2
-2.2

-1.6
-1.6

10
11

12
13
14

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

-0.6
-0.8
0.3

1.0
-0.7
1.8

-2.8
-2.6
-0.2

-9.3
-4.3
-5.0

-3.1
-2.2
-0.9

-0.7
-0.0
-0.7

-2.9
-0.3
-2.6

12
13
14

15
16
17

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

2.5
1.2
1.2

3.0
1.5
1.5

3.1
1.6
1.6

5.3
2.7
2.7

6.5
3.2
3.2

8.7
4.3
4.3

3.6
1.8
1.8

15
16
17

18
19
20

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

10.5
0.1
10.4

4.5
0.0
4.5

3.2
0.0
3.2

0.1
-0.0
0.1

-5.1
-0.0
-5.0

2.8
-0.0
2.9

2.2
0.0
2.2

18
19
20

21
22
23
24
25
26
27
28

Govt.-sponsored enterprises loans
Liab.: Household sector (SLMA)
Noncorporate business (FCS)
Farm business (FCS)
Commercial banks (FHLB and SLMA)
Savings institutions (FHLB and SLMA)
Credit unions (FHLB)
Life insurance companies (FHLB)

11.2
3.9
2.5
1.4
6.2
-2.6
-0.1
-0.1

28.8
-0.6
-1.2
2.7
2.3
24.5
0.1
1.1

31.2
-4.4
0.0
0.0
19.1
16.2
0.1
0.2

92.3
-1.2
2.7
0.6
46.9
42.1
0.6
0.7

113.6
5.6
0.0
0.9
40.6
63.5
2.2
0.7

41.3
-4.2
1.5
1.5
26.8
16.3
0.0
-0.7

40.1
2.4
2.9
0.0
24.2
8.5
1.5
0.6

21
22
23
24
25
26
27
28

29
30
31

Securitized loans held by ABS issuers
Liab.: Households (1)
Nonfinancial corporate business

6.9
1.0
5.9

13.3
5.3
8.1

32.2
7.8
24.4

27.6
3.8
23.8

9.2
1.5
7.7

21.2
6.5
14.7

13.2
0.9
12.4

29
30
31

32
33
34

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

26.7
24.0
2.7

3.1
2.8
0.3

-0.6
-0.5
-0.1

36.8
33.1
3.7

54.2
48.8
5.4

63.3
57.0
6.3

-11.5
-10.3
-1.1

32
33
34

(1) Student loans.

40

FFA, 1995-2001, September 16, 2002

F.217 Total Mortgages
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1

Net change in mortgages

195.9

287.9

337.2

514.6

570.0

565.6

705.6

1

2
3
4
5

Home
Multifamily residential
Commercial
Farm

176.8
6.4
11.3
1.4

241.7
12.4
31.1
2.7

258.3
12.2
63.5
3.1

387.7
31.5
88.8
6.5

424.6
37.4
102.2
5.8

413.5
37.3
108.3
6.5

530.1
48.3
119.7
7.5

2
3
4
5

195.9

287.9

337.2

514.6

570.0

565.6

705.6

6

153.4

229.0

239.2

348.5

380.5

373.3

488.6

7

37.1
7.9
27.8
1.4

51.0
10.2
38.2
2.7

83.1
32.3
47.7
3.1

141.3
17.0
117.7
6.5

184.4
34.0
144.7
5.8

186.1
49.9
129.7
6.5

215.7
58.2
150.1
7.5

8
9
10
11

6
7

Net borrowing
Household sector

8
9
10
11

Nonfinancial business
Corporate
Nonfarm noncorporate
Farm

12
13

Federal government
REITs

0.0
5.3

-0.0
7.9

-0.0
14.9

0.0
24.8

0.0
5.1

0.0
6.2

0.0
1.3

12
13

14

Net change in assets

195.9

287.9

337.2

514.6

570.0

565.6

705.6

14

-6.1
1.6
-2.1

0.1
-3.6
-1.4

0.1
25.9
-1.6

0.9
-13.0
7.9

-0.1
-26.0
-2.0

0.9
-10.0
3.1

0.9
-3.0
3.3

15
16
17

3.3
-13.5

3.8
-7.2

3.7
-4.5

4.1
-0.8

4.3
-0.1

4.5
-0.9

4.7
-1.1

18
19

15
16
17

Household sector
Nonfinancial corporate business
Nonfarm noncorporate business

18
19

State and local governments
Federal government

20
21
22
23

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

77.5
0.6
4.4
-0.1

55.2
31.6
9.5
0.3

99.9
3.5
10.1
-0.6

91.7
12.1
10.8
-0.2

158.4
24.1
14.1
-0.6

164.6
54.9
13.8
-0.1

129.8
35.3
16.4
-0.1

20
21
22
23

24
25
26
27

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

-2.6
-1.0
0.6
0.7

-5.0
-0.4
0.6
0.8

-1.3
-0.2
0.7
0.9

6.8
-0.3
-0.3
6.5

15.7
-0.0
0.9
-2.6

5.2
-0.3
1.2
-0.0

7.1
0.2
1.3
3.4

24
25
26
27

28
29
30

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

6.3
98.3
25.1

-6.4
141.0
48.1

-4.7
114.6
79.9

7.7
192.6
156.8

-4.8
273.8
93.1

25.0
199.4
83.7

33.9
338.5
145.8

28
29
30

31
32
33

Finance companies
Mortgage companies
REITs

5.6
-3.4
0.8

13.1
8.2
-0.3

11.0
-9.1
9.1

24.7
3.2
3.4

24.6
0.3
-3.3

26.4
0.2
-6.2

-11.0
1.4
-1.1

31
32
33

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

FFA, 1995-2001, September 16, 2002

41

F.218 Home Mortgages (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates

1
2
3
4
5

Net borrowing
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business

1996

1997

1998

1999

2000

2001

176.8

241.7

258.3

387.7

424.6

413.5

530.1

1

163.0
-0.1
13.9

224.4
1.0
16.4

240.4
0.2
17.8

339.1
1.4
47.2

373.9
2.2
48.6

370.5
2.0
40.9

477.8
2.1
50.3

2
3
4

176.8

241.7

258.3

387.7

424.6

413.5

530.1

5

Household sector
Nonfinancial corporate business
Nonfarm noncorporate business

-7.7
1.1
-0.8

-1.2
-9.3
-0.5

-1.1
5.3
-0.6

-1.1
-2.7
2.9

-1.1
-6.9
-0.9

-1.0
-4.9
1.1

-1.0
-1.9
1.0

6
7
8

9
10

State and local governments
Federal government

3.2
-4.9

2.3
-3.0

3.0
-2.0

3.3
-0.3

3.5
-0.4

3.7
-0.7

3.8
-0.6

9
10

11
12
13
14

Commercial banking
Savings institutions
Credit unions
Bank personal trusts and estates

56.6
4.7
4.4
-0.1

31.1
31.4
9.5
0.3

67.9
7.0
10.1
-0.6

51.5
12.8
10.8
-0.2

82.6
14.7
14.1
-0.6

86.1
46.0
13.8
-0.1

58.2
26.4
16.4
-0.1

11
12
13
14

15
16
17

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

0.4
0.7
0.5

-1.9
0.6
0.6

0.2
0.8
0.6

-0.6
0.1
2.8

-0.7
0.9
-0.9

-1.0
1.1
-0.0

0.0
1.3
1.2

15
16
17

18
19
20

Government-sponsored enterprises
Federally related mortgage pools
ABS issuers

5.9
93.8
18.4

-6.7
135.4
31.8

-4.2
109.3
54.5

5.3
182.1
94.5

-10.3
264.6
49.9

15.8
190.9
44.8

20.2
322.9
91.4

18
19
20

21
22
23

Finance companies
Mortgage companies
REITs

3.3
-4.5
1.9

12.2
8.2
1.1

12.6
-10.2
6.0

22.5
3.1
0.8

18.2
0.3
-2.4

22.4
0.2
-4.6

-10.5
1.3
0.1

21
22
23

24.9
10.3
1.1
2.0
8.2
3.3

48.9
13.8
1.7
2.6
18.5
12.2

78.0
20.1
3.2
3.5
38.6
12.6

60.6
2.9
0.5
0.7
34.0
22.5

56.0
12.7
3.7
3.7
17.7
18.2

97.8
45.5
13.1
7.3
9.6
22.4

68.8
23.6
5.1
4.2
46.3
-10.5

24
25
26
27
28
29

6
7
8

24
25
26
27
28
29

Net change in assets

1995

Memo:
Home equity loans included above (2)
Commercial banking
Savings institutions
Credit unions
ABS issuers
Finance companies

(1) Mortgages on 1-4 family properties.
(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by mortgage companies and individuals.

F.219 Multifamily Residential Mortgages
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

Net borrowing

6.4

12.4

12.2

31.5

37.4

37.3

48.3

1

2
3

Nonfinancial corporate business
Nonfarm noncorporate business

0.9
3.7

0.9
8.9

1.1
6.2

1.1
22.3

1.3
34.5

1.4
33.9

1.4
46.5

2
3

4
5

Federal government
REITs

0.0
1.8

-0.0
2.6

-0.0
4.9

0.0
8.2

0.0
1.7

0.0
2.1

0.0
0.4

4
5

6

Net change in assets

6.4

12.4

12.2

31.5

37.4

37.3

48.3

6

Household sector
Nonfinancial corporate business
Nonfarm noncorporate business

0.3
-0.8
-0.7

-0.1
0.7
-0.5

-0.1
0.6
-0.5

-0.0
-0.3
2.6

-0.0
-0.2
-0.8

-0.0
-0.1
1.0

-0.0
-0.1
1.5

7
8
9

10
11

State and local governments
Federal government

0.6
-4.3

1.8
-2.9

0.6
-0.9

0.9
-0.3

0.9
-0.0

1.0
0.3

1.0
-0.2

10
11

12
13

Commercial banking
Savings institutions

4.6
-2.4

2.9
-0.4

4.2
-2.0

5.0
-2.5

13.0
2.3

10.1
1.9

7.0
3.3

12
13

14
15
16

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

0.9
-0.0
0.2

2.0
0.0
0.2

-0.3
-0.0
0.2

1.1
-0.1
1.8

1.1
0.0
-0.7

0.9
0.0
-0.0

2.0
-0.0
0.9

14
15
16

17
18
19

Government-sponsored enterprises
Federally related mortgage pools
ABS issuers

0.5
4.5
2.1

-0.8
5.6
4.0

-1.5
5.3
5.0

0.2
10.5
12.9

4.4
9.2
8.5

7.3
8.5
6.5

9.4
15.6
8.2

17
18
19

20
21
22

Finance companies
Mortgage companies
REITs

0.2
1.1
-0.6

0.1
-0.1
-0.4

-0.3
1.0
0.9

-0.3
0.1
0.1

0.2
0.0
-0.6

0.1
0.0
-0.2

-0.2
0.1
-0.3

20
21
22

7
8
9

42

FFA, 1995-2001, September 16, 2002

F.220 Commercial Mortgages
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1
2
3
4
5
6

Net borrowing
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
REITs

1997

1998

1999

2000

2001

11.3

31.1

63.5

88.8

102.2

108.3

119.7

1

-9.6
7.2
10.1
3.6

4.7
8.3
12.9
5.3

-1.2
31.1
23.7
10.0

9.4
14.6
48.3
16.6

6.6
30.5
61.6
3.4

2.7
46.6
54.9
4.2

10.8
54.7
53.3
0.9

2
3
4
5

11.3

31.1

63.5

88.8

102.2

108.3

119.7

6

Household sector
Nonfinancial corporate business
Nonfarm noncorporate business

0.6
1.2
-0.5

0.7
5.1
-0.4

0.7
20.0
-0.4

0.9
-10.0
2.0

0.8
-19.0
-0.5

0.5
-5.0
0.8

0.6
-1.0
0.7

7
8
9

10
11

State and local governments
Federal government

-0.5
-3.8

-0.2
-0.9

0.2
-0.7

-0.1
0.1

-0.1
0.6

-0.1
-0.4

-0.1
-0.1

10
11

12
13

Commercial banking
Savings institutions

15.0
-1.8

20.2
0.6

25.7
-1.5

33.2
1.8

60.0
7.1

66.2
6.9

63.0
5.6

12
13

14
15
16
17

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

-4.0
-1.0
-0.0
0.0

-5.6
-0.4
0.0
-0.0

-1.5
-0.2
-0.1
-0.0

5.2
-0.3
-0.3
1.9

13.8
-0.0
0.0
-1.0

4.7
-0.3
0.1
-0.0

4.6
0.2
-0.0
1.2

14
15
16
17

18
19
20
21
22

Federally related mortgage pools
ABS issuers
Finance companies
Mortgage companies
REITs

-0.0
4.6
2.0
0.0
-0.5

-0.0
12.2
0.7
0.0
-1.0

-0.0
20.4
-1.3
0.0
2.2

0.0
49.4
2.5
0.0
2.5

0.0
34.7
6.1
0.0
-0.4

0.0
32.4
3.9
0.0
-1.4

0.0
46.2
-0.3
0.0
-1.0

18
19
20
21
22

7
8
9

Net change in assets

1996

F.221 Farm Mortgages
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

Net borrowing (Farm business)

1.4

2.7

3.1

6.5

5.8

6.5

7.5

1

2

Net change in assets

1.4

2.7

3.1

6.5

5.8

6.5

7.5

2

3
4

Household sector
Nonfarm noncorporate business

0.8
-0.1

0.6
-0.0

0.6
-0.1

1.1
0.4

0.2
0.3

1.5
0.3

1.2
0.2

3
4

5
6

State and local governments
Federal government

-0.0
-0.5

-0.1
-0.5

-0.0
-0.9

-0.0
-0.3

-0.0
-0.2

0.0
-0.1

0.0
-0.2

5
6

7
8

Commercial banking
Savings institutions

1.3
-0.0

1.1
0.0

2.1
0.0

2.1
0.1

2.8
0.1

2.2
0.1

1.5
0.0

7
8

0.1
0.0

0.5
0.0

0.4
0.0

1.1
0.0

1.5
0.0

0.6
0.0

0.5
0.0

9
10

-0.1
-0.0

1.1
-0.0

1.0
-0.0

2.2
-0.0

1.1
-0.0

2.0
0.0

4.3
0.0

11
12

9
10

Life insurance companies
State and local govt. retirement funds

11
12

Government-sponsored enterprises
Federally related mortgage pools

FFA, 1995-2001, September 16, 2002

43

F.222 Consumer Credit
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

1

Net change in liabilities (Households)

138.9

91.3

57.5

75.0

99.5

139.0

110.2

1

2

Net change in assets

138.9

91.3

57.5

75.0

99.5

139.0

110.2

2

3
4

Nonfinancial corporate business
Nonfarm noncorporate business

-1.6
0.0

-7.3
0.0

1.2
0.0

-4.1
0.0

5.4
0.0

2.4
0.0

-14.8
0.0

3
4

5
6
7

Commercial banking
Savings institutions
Credit unions

43.2
1.6
12.3

24.8
4.6
12.2

-14.2
2.5
8.2

-3.6
4.4
3.0

-9.2
9.9
12.5

41.7
3.0
16.5

16.6
4.5
5.1

5
6
7

8
9

ABS issuers
Finance companies

65.6
17.7

54.2
2.8

47.2
12.6

59.4
15.8

62.6
18.2

57.1
18.2

82.0
16.8

8
9

133.7

123.3

139.8

106.4

268.6

170.2

-19.3

1

7.9

8.0

8.9

8.7

4.1

7.7

6.1

2

F.223 Trade Credit
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

Net change in trade payables

2

Household sector

3
4
5

Nonfinancial corporate business
Nonfarm noncorporate business
Farm business

81.0
12.4
1.0

49.5
30.6
1.3

65.1
31.0
1.4

57.6
21.6
0.8

178.5
40.7
0.4

112.5
35.0
0.9

-80.9
20.0
0.2

3
4
5

6
7

State and local governments
Federal government

29.2
-4.6

30.9
0.7

31.4
-8.8

30.5
-8.0

29.1
-0.3

27.4
-19.1

25.2
9.0

6
7

8
9

Rest of the world
Brokers and dealers

5.8
1.1

-1.7
4.0

5.2
5.7

-3.9
-1.0

4.2
11.9

0.8
5.1

-2.2
3.3

8
9

10

Net change in trade receivables

117.3

149.0

165.3

149.6

265.8

144.1

-35.6

10

11
12

Nonfinancial corporate business
Nonfarm noncorporate business

78.0
15.3

88.1
29.5

93.5
35.1

86.3
28.9

200.5
42.6

63.0
42.3

-86.4
15.1

11
12

13
14

Federal government
Rest of the world

-1.6
0.7

0.9
5.5

-3.2
0.9

1.5
-6.5

4.6
-5.0

5.3
-0.5

7.2
-2.7

13
14

15
16

Other insurance companies
ABS issuers

4.4
20.5

-0.1
25.0

2.7
36.3

1.6
37.9

2.0
21.1

1.0
33.0

5.3
25.9

15
16

16.4

-25.7

-25.5

-43.3

2.8

26.1

16.3

17

26.7

52.4

111.0

103.2

104.4

146.1

3.1

1

3.5
0.0

15.8
0.0

36.8
0.0

21.6
0.0

75.2
0.0

7.2
0.0

-38.8
0.0

2
3

23.1
18.6
8.3
-3.7

36.6
35.3
-4.8
6.2

74.2
52.6
4.2
17.5

81.6
61.2
11.9
8.4

29.2
47.2
-8.8
-9.3

138.9
88.6
7.1
43.2

41.9
41.9
7.2
-7.2

4
5
6
7

17

Discrepancy

F.224 Security Credit
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

Net change in liabilities

2
3

Household sector
Rest of the world

4
5
6
7

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

8

Net change in assets

26.7

52.4

111.0

103.2

104.4

146.1

3.1

8

9
10

Household sector
Rest of the world

18.6
0.0

35.3
0.0

52.6
0.0

61.2
0.0

47.2
0.0

88.6
0.0

41.9
0.0

9
10

11
12

Commercial banking
Brokers and dealers

4.6
3.5

1.3
15.8

21.7
36.8

20.3
21.6

-18.0
75.2

50.4
7.2

0.0
-38.8

11
12

44

FFA, 1995-2001, September 16, 2002

F.225 Life Insurance and Pension Fund Reserves
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

Life insurance reserves:
1
2
3
4

Net change in liabilities
Federal government
Life insurance companies
Net change in assets (Households)

45.8

44.5

59.3

48.0

50.8

50.2

77.2

1

1.0
44.8

0.6
43.8

1.7
57.6

1.3
46.7

1.4
49.4

1.4
48.7

1.4
75.8

2
3

45.8

44.5

59.3

48.0

50.8

50.2

77.2

4

158.8

148.3

201.4

217.4

181.8

209.0

209.1

5

Pension fund reserves:
5

Net change in liabilities

6
7

Federal government (1)
Life insurance companies

20.8
42.6

55.1
27.0

40.3
95.0

41.2
122.6

41.1
91.8

20.9
142.6

60.8
138.5

6
7

8
9

Private pension funds (2)
State and local govt. retirement funds

32.8
62.6

5.5
60.8

-10.4
76.5

-7.9
61.5

-10.9
59.8

-8.6
54.1

-16.8
26.5

8
9

10

Net change in assets (Households) (3)

158.8

148.3

201.4

217.4

181.8

209.0

209.1

10

(1) Includes civil service retirement and disability fund, Railroad Retirement Board, military retirement fund, judicial retirement funds, and foreign service retirement and disability fund.
(2) Includes unallocated insurance company contracts beginning 1985:Q4.
(3) Excludes all individual retirement accounts (IRAs) (table F.225.i), except those at life insurance companies.

F.226 Taxes Payable by Businesses
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

Net change in taxes payable by all
businesses

7.8

19.5

22.3

19.6

23.2

21.7

14.3

1

2
3

Nonfinancial corporate business
Nonfarm noncorporate business

-0.0
2.9

9.6
4.9

9.3
7.3

4.8
9.0

7.0
9.3

7.0
7.5

0.1
6.8

2
3

4
5

U.S.-chartered commercial banks
Savings institutions

0.9
0.5

1.2
-0.1

1.4
0.4

1.7
0.2

1.9
0.0

2.1
0.4

2.4
-0.7

4
5

6
7

Life insurance companies
Other insurance companies

1.6
1.2

0.5
2.5

1.2
1.8

1.2
2.0

1.3
2.0

1.6
2.3

2.0
2.7

6
7

8
9

Finance companies
Brokers and dealers

0.7
-0.1

0.8
0.1

0.8
0.1

0.8
-0.1

0.8
0.9

1.0
-0.1

1.2
-0.2

8
9

-13.3

-3.5

-5.7

-0.1

11.5

-4.5

-4.8

10

-6.7
-6.6

-2.0
-1.6

3.3
-9.0

7.3
-7.5

9.8
1.7

10.6
-15.1

5.2
-10.0

11
12

21.1

23.1

28.0

19.7

11.7

26.2

19.1

13

10
11
12
13

Net change in business taxes receivable
State and local governments
Federal government
Discrepancy

F.227 Investment in Bank Personal Trusts and Estates
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

Liab.: Bank personal trusts and estates

6.4

-5.3

-49.9

-41.8

-6.5

-29.7

-26.3

1

2

Asset: Household sector

6.4

-5.3

-49.9

-41.8

-6.5

-29.7

-26.3

2

31.5

5.5

-40.7

-57.8

-38.7

-10.2

-23.1

1

26.7
-9.9
14.7

-9.0
2.2
12.4

-55.6
0.0
14.9

-64.8
0.4
6.6

-43.5
-6.3
11.1

-31.5
-11.6
33.0

-35.9
-0.5
13.3

2
3
4

F.228 Proprietors’ Equity in Noncorporate Business
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1
2
3
4

Total household investment
Nonfarm noncorporate business
Farm business
Brokers and dealers

FFA, 1995-2001, September 16, 2002

45

F.229 Total Miscellaneous Financial Claims
Billions of dollars; quarterly figures are seasonally adjusted annual rates

1

1996

1997

1998

1999

2000

2001

494.7

522.4

493.8

956.9

1042.7

1155.4

682.1

1

2
3
4

Household sector
Nonfinancial corporate business
Nonfarm noncorporate business

0.7
141.1
13.5

0.8
225.8
29.7

0.3
31.9
56.5

-1.4
428.4
92.3

2.1
544.1
73.9

0.1
433.8
66.3

-0.4
194.4
35.4

2
3
4

5
6

Federal government
Rest of the world

4.5
138.8

-3.3
134.8

0.3
134.8

-7.1
175.2

-2.9
253.3

2.0
217.0

-7.8
148.8

5
6

7
8
9
10

Monetary authority
Commercial banking
Savings institutions
Credit unions

1.4
124.0
-0.6
-1.9

-0.1
20.1
-2.5
0.0

2.1
171.2
-2.1
0.1

1.3
96.3
-1.5
0.5

-1.3
-70.9
-14.7
0.9

1.1
196.5
17.1
-0.4

-2.8
-4.7
19.0
-1.8

7
8
9
10

11
12

Life insurance companies
Other insurance companies

33.5
22.8

28.5
12.3

36.0
10.7

6.6
5.6

15.7
13.8

3.6
5.8

32.4
26.5

11
12

13
14
15

Government-sponsored enterprises
Finance companies
Mortgage companies

5.8
21.8
-1.2

0.3
-0.4
4.1

7.8
-20.0
-4.6

20.3
17.8
1.6

-6.0
66.9
0.2

7.4
82.8
0.1

36.3
19.1
0.7

13
14
15

16
17
18

REITs
Brokers and dealers
Funding corporations

1.4
12.6
-23.7

2.5
28.4
41.4

8.8
21.6
38.2

13.6
44.7
62.8

4.4
7.5
155.9

1.8
-1.9
122.2

0.1
138.5
48.6

16
17
18

694.7

699.8

742.1

1115.9

1344.1

1560.3

891.2

19

19

Net change in liabilities

1995

Net change in assets

20
21
22
23

Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
Farm business

14.8
319.9
36.7
1.8

9.7
313.6
36.6
-0.1

10.3
156.8
56.4
0.4

9.7
427.4
122.2
0.5

12.4
661.2
91.8
0.2

4.7
595.8
77.3
-0.1

16.1
276.7
75.2
1.5

20
21
22
23

24
25
26

State and local governments
Federal government
Rest of the world

41.3
-2.1
117.0

-8.1
-6.7
143.2

-1.2
-5.4
211.6

-8.0
-3.5
203.8

11.6
-0.9
406.6

8.6
-1.4
484.3

-11.6
1.3
172.4

24
25
26

27
28
29
30
31

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

-3.2
61.4
1.7
-0.8
-0.9

2.4
25.9
-1.8
-0.2
3.9

1.3
103.5
-3.2
3.8
-1.4

4.9
99.1
13.8
6.8
8.4

-1.3
27.6
-2.7
-16.4
-2.5

1.1
89.0
7.7
18.0
-1.5

-0.4
137.0
19.1
6.9
-1.0

27
28
29
30
31

32
33
34
35

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

7.2
3.8
25.7
2.5

-31.4
3.6
35.9
8.2

-6.7
6.1
13.5
0.7

3.5
6.9
13.8
3.3

-34.6
7.7
-11.0
16.3

20.7
6.4
-3.1
13.3

-27.5
1.3
5.8
20.3

32
33
34
35

36
37
38

Money market mutual funds
Mutual funds
Government-sponsored enterprises

11.6
0.5
-0.9

4.4
-1.7
7.1

14.3
7.1
7.4

9.6
-4.2
1.3

22.6
-3.5
5.4

12.2
-0.7
16.8

26.1
-2.6
11.6

36
37
38

39
40
41
42

Finance companies
REITs
Brokers and dealers
Funding corporations

21.0
1.0
10.3
24.5

23.5
-1.7
68.2
65.2

22.0
4.9
82.8
57.3

9.3
10.7
115.9
60.7

50.9
-0.1
28.3
74.4

24.3
0.0
133.0
54.0

20.5
0.5
156.6
-14.5

39
40
41
42

-200.0

-177.4

-248.3

-158.9

-301.4

-404.9

-209.2

43

43

Discrepancy

46

FFA, 1995-2001, September 16, 2002

F.230 Identified Miscellaneous Financial Claims - Part I
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

U.S. direct investment abroad (1):
1
2
3
4
5
6
7
8
9
10

Liab.: Rest of the world
Equity
Reinvested earnings
Intercompany accounts

98.8
40.5
53.9
4.4

91.9
27.5
54.7
9.7

104.8
40.8
58.0
6.0

142.6
72.4
44.2
26.0

188.9
79.2
86.4
23.3

178.3
66.1
109.4
2.8

127.8
49.8
58.6
19.4

1
2
3
4

Asset: Nonfinancial corporate business
Commercial banking
Life insurance companies
Other insurance companies
Finance companies
Brokers and dealers

90.3
1.6
0.4
3.8
2.5
0.1

76.8
3.5
0.8
3.6
7.3
-0.1

84.3
3.0
1.8
6.1
9.0
0.7

129.2
2.0
0.7
6.9
0.5
3.4

158.4
4.5
2.4
7.7
11.8
4.1

147.5
10.9
2.2
6.4
10.6
0.7

104.9
0.9
2.9
1.3
17.3
0.6

5
6
7
8
9
10

53.6
-0.1
6.6
1.8
2.0
2.8
1.5
-10.4

71.7
0.3
-0.1
1.0
5.7
5.1
1.3
1.5

100.2
0.5
7.7
7.0
5.9
6.6
0.3
-22.6

144.4
0.2
5.5
2.7
1.3
2.6
1.7
20.7

247.0
0.2
19.4
11.7
11.3
13.2
3.6
-17.0

189.1
0.1
9.7
27.9
6.6
14.9
5.1
54.3

66.6
0.1
8.4
8.1
0.4
7.8
-1.3
40.7

11
12
13
14
15
16
17
18

57.8
47.9
8.4
1.5

86.5
63.7
8.5
14.3

105.6
59.5
15.0
31.1

179.0
147.1
2.8
29.1

289.5
221.6
4.1
63.8

307.7
245.9
6.5
55.3

130.8
107.7
-19.7
42.8

19
20
21
22

1.5
1.5

1.8
1.8

1.6
1.6

1.6
1.6

1.5
1.5

1.5
1.5

1.7
1.7

23
24

0.3
0.3

0.6
0.6

0.8
0.8

0.5
0.5

0.5
0.5

0.6
0.6

0.4
0.4

25
26

1.8

1.2

0.7

3.3

5.5

2.2

2.5

27

-0.2
0.0
-0.1
0.0
1.6
0.4
0.1
-0.0

-0.2
0.7
-0.6
0.0
0.8
0.5
0.0
0.1

-1.1
0.0
0.0
0.0
1.3
0.4
0.0
0.0

-0.7
-0.1
0.1
0.0
2.0
1.8
0.1
0.0

-0.6
0.0
-0.0
0.0
3.0
2.7
0.2
0.1

0.0
-0.0
-0.0
0.0
0.8
1.3
0.1
0.0

-0.2
-0.1
0.1
0.0
1.4
1.2
0.2
-0.1

28
29
30
31
32
33
34
35

Foreign direct investment in U.S. (1):
11
12
13
14
15
16
17
18

Liab.: Nonfinancial corporate business
Nonfarm noncorporate business
Commercial banking
Life insurance companies
Other insurance companies
Finance companies
Brokers and dealers
Funding corporations

19
20
21
22

Asset: Rest of the world
Equity
Reinvested earnings
Intercompany accounts
Federal government equity in IBRD, etc.:

23
24

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

25
26

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

27

Liab.: Government-sponsored enterprises

28
29
30
31
32
33
34
35

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

36
37
38
39
40

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

40.1
0.1
4.6
-1.2
4.7

28.6
0.2
1.8
4.1
-5.8

40.7
0.3
-3.7
-4.6
32.9

55.3
0.4
-6.4
1.6
48.5

2.9
0.5
26.8
0.2
-10.2

53.6
0.7
7.4
0.1
30.3

60.7
0.8
-1.7
0.7
30.0

36
37
38
39
40

41

Asset: Bank holding companies

48.3

28.9

65.7

99.4

20.2

92.0

90.4

41

4.6
4.6

1.8
1.8

-3.7
-3.7

-6.4
-6.4

26.8
26.8

7.4
7.4

-1.7
-1.7

42
43

NFC investment in finance company subs.:
42
43

Liab.: Finance companies
Asset: Nonfinancial corporate business
Funding corp. investment in subs.:

44
45

Liab.: Foreign banking offices in U.S.
Brokers and dealers

6.7
17.8

13.7
51.5

14.3
43.0

11.8
48.9

2.5
71.9

45.6
8.3

-30.8
16.3

44
45

46

Asset: Funding corporations

24.5

65.2

57.3

60.7

74.4

54.0

-14.5

46

(1) Direct investment is valued on a current-cost basis. Excludes capital gains and losses. Components of direct investment--equity, reinvested earnings, intercompany accounts--are not available before 1982.

FFA, 1995-2001, September 16, 2002

47

F.231 Identified Miscellaneous Financial Claims - Part II
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

Nonofficial foreign currencies:
1
2

Liab.: Rest of the world
Asset: Federal government

0.3
0.3

-0.1
-0.1

-0.0
-0.0

-0.1
-0.1

0.6
0.6

0.0
0.0

-0.1
-0.1

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

3
4

3.3
3.3

-1.2
-1.2

0.0
0.0

6.8
6.8

-7.8
-7.8

-0.0
-0.0

8.7
8.7

5
6

0.7
0.7

0.8
0.8

0.3
0.3

-1.4
-1.4

2.1
2.1

0.1
0.1

-0.4
-0.4

7
8

Postal Savings System deposits:
3
4

Liab.: Federal government
Asset: Household sector
Deposits at Federal Home Loan Banks:

5
6

Liab.: Government-sponsored enterprises
Asset: Savings institutions
Deferred and unpaid life insurance premiums:

7
8

Liab.: Household sector
Asset: Life insurance companies
Life insurance company reserves:

9
10
11

Liab.: Life insurance companies
Health
Policy dividend accumulation

6.1
5.2
0.8

7.0
6.2
0.8

8.3
6.3
2.0

7.9
7.3
0.7

11.4
10.2
1.2

5.0
3.9
1.1

4.1
3.1
1.0

9
10
11

12

Asset: Household sector

6.1

7.0

8.3

7.9

11.4

5.0

4.1

12

20.8

6.6

4.8

4.3

2.5

-0.8

26.1

13

8.7
8.2
2.0
1.9

2.7
2.6
0.6
0.6

2.0
1.9
0.5
0.4

1.8
1.7
0.4
0.4

1.1
1.0
0.2
0.2

-0.3
-0.3
-0.1
-0.1

11.9
10.3
2.5
1.4

14
15
16
17

17.7
17.7

14.4
14.4

-1.0
-1.0

-14.8
-14.8

-7.7
-7.7

-11.8
-11.8

2.4
2.4

18
19

4.1
4.1

4.1
4.1

7.1
7.1

21.4
21.4

-4.8
-4.8

1.2
1.2

1.3
1.3

20
21

-5.5
-5.5

59.9
59.9

57.2
57.2

70.0
70.0

16.3
16.3

88.7
88.7

70.1
70.1

22
23

Policy payables:
13

Liab.: Other insurance companies

14
15
16
17

Asset: Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
Farm business
Unallocated insurance company contracts:

18
19

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

20
21

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

22
23

Liab.: Funding corporations
Asset: Brokers and dealers

48

FFA, 1995-2001, September 16, 2002

F.232 Unidentified Miscellaneous Financial Claims
Billions of dollars; quarterly figures are seasonally adjusted annual rates

1

1996

1997

1998

1999

2000

2001

209.7

153.1

84.4

382.1

422.8

429.4

232.3

1

2
3

Nonfinancial corporate business
Nonfarm noncorporate business

83.5
13.6

150.1
29.4

-75.5
56.0

262.5
92.1

301.8
73.7

243.4
66.3

126.5
35.3

2
3

4
5
6

Federal government
Rest of the world
Monetary authority

4.5
38.3
1.1

-3.3
41.1
-0.7

0.3
28.5
1.3

-7.1
31.1
0.8

-2.9
62.3
-1.8

2.0
37.2
0.6

-7.8
19.3
-3.2

4
5
6

7
8
9
10
11

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

70.6
3.5
37.6
26.6
2.9

-22.1
-13.0
-26.9
17.3
0.6

108.4
30.5
34.2
39.0
4.7

23.8
-27.0
-11.4
56.0
6.3

-95.6
-20.1
-66.9
-10.8
2.2

87.6
71.3
-27.5
43.1
0.7

-43.0
-101.2
1.1
52.9
4.2

7
8
9
10
11

12
13
14
15

Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises

-0.7
-1.9
7.9
0.8

-2.7
0.0
6.1
0.3

-2.4
0.1
21.8
7.1

-1.9
0.5
10.8
10.1

-15.3
0.9
0.2
-3.7

16.5
-0.4
-17.6
5.2

18.2
-1.8
17.8
25.1

12
13
14
15

16
17
18
19

Finance companies
REITs
Brokers and dealers
Funding corporations

9.8
1.4
-11.4
-7.8

-9.1
2.5
-18.7
-20.0

-19.1
8.8
-54.6
3.6

28.0
13.6
-54.3
-27.9

0.1
4.4
-57.9
156.7

53.2
1.8
-45.6
-20.8

14.6
0.1
93.6
-62.2

16
17
18
19

409.7

330.5

332.7

541.0

724.3

834.3

441.5

20

216.9
34.7
41.3

232.7
35.2
-8.1

75.4
55.9
-1.2

303.6
121.9
-8.0

475.6
91.6
11.6

441.3
77.4
8.6

163.3
72.9
-11.6

21
22
23

20

Net change in liabilities

1995

Net change in assets

21
22
23

Nonfinancial corporate business
Nonfarm noncorporate business
State and local governments

24
25
26

Federal government
Rest of the world
Monetary authority

-3.8
59.2
-3.2

-8.4
56.7
2.4

-7.0
106.0
1.3

-5.0
24.7
4.9

-3.0
117.1
-1.3

-2.9
176.5
1.1

-0.3
41.6
-0.4

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

9.6
-1.6
5.0
4.6
1.6

-7.9
1.3
-21.2
11.3
0.8

32.7
0.5
37.0
-6.7
1.8

-4.9
-20.3
0.3
12.1
3.1

-0.6
1.3
-29.7
28.9
-1.0

-15.3
-6.4
-27.7
20.9
-2.1

43.9
19.7
12.4
5.9
5.9

27
28
29
30
31

32
33
34

Savings institutions
Credit unions
Bank personal trusts and estates

-2.0
-0.9
-0.9

-1.1
-0.2
3.9

-3.6
3.8
-1.4

5.1
6.7
8.4

2.4
-16.6
-2.5

6.5
17.8
-1.5

9.3
6.6
-1.0

32
33
34

35
36
37

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

6.1
3.9
2.5

-33.1
17.4
8.2

-8.8
7.4
0.7

4.1
7.2
3.3

-39.3
1.5
16.3

18.4
7.4
13.3

-29.9
2.1
20.3

35
36
37

38
39
40

Money market mutual funds
Mutual funds
Government-sponsored enterprises

11.6
0.5
-0.9

4.4
-1.7
7.1

14.3
7.1
7.4

9.6
-4.2
1.3

22.6
-3.5
5.4

12.2
-0.7
16.8

26.1
-2.6
11.6

38
39
40

41
42
43

Finance companies
REITs
Brokers and dealers

18.6
1.0
15.7

16.2
-1.7
8.4

13.0
4.9
24.9

8.8
10.7
42.6

39.1
-0.1
7.9

13.7
0.0
43.7

3.3
0.5
85.8

41
42
43

-200.0

-177.4

-248.3

-158.9

-301.4

-404.9

-209.2

44

44

Discrepancy

FFA, 1995-2001, September 16, 2002

49

F.11 Sector Discrepancies
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1

1997

1998

1999

2000

2001

-167.9

-162.3

-129.9

-98.3

-183.8

-19.9

-74.3

1

2
3

Household sector
Nonfinancial corporate business

-11.5
-54.4

-101.3
-42.2

-16.3
-21.5

-86.3
-63.6

7.1
-111.0

118.7
-177.9

-97.7
-17.5

2
3

4
5
6

State and local governments
Federal government
Rest of the world

-14.6
-25.6
11.7

-9.4
56.0
-27.3

39.1
15.2
-96.9

-50.9
22.7
134.5

-23.0
-4.2
17.8

-30.8
-25.9
-15.4

-21.1
58.7
-6.8

4
5
6

7

Financial sectors

-73.6

-38.1

-49.6

-54.7

-70.5

111.4

10.1

7

-1.8
-18.5

0.9
-4.8

1.7
44.4

-3.1
26.3

-0.7
-44.0

3.8
126.3

-0.3
28.5

8
9

-2.1
1.0
-1.3

-3.3
1.5
2.1

-1.6
-0.0
-5.3

-2.9
-0.1
-0.2

2.2
1.1
1.7

2.4
-0.2
0.9

1.9
0.9
0.2

10
11
12

-41.5
-22.2

-41.0
-11.1

-44.1
-45.8

-33.3
-20.7

-30.9
8.1

-25.4
-8.8

-18.6
-0.5

13
14

8
9

All sectors

1996

Monetary authority
Commercial banking

10
11
12

Savings institutions
Credit unions
Bank personal trusts and estates

13
14

Life insurance companies
Other insurance companies

15
16

Mutual funds
Government-sponsored enterprises

9.3
-1.8

5.6
0.5

8.0
-3.0

-8.4
-4.1

4.7
-2.3

-4.1
-5.2

-0.9
-4.7

15
16

17
18
19
20

Issuers of asset-backed securities
Finance companies
REITs
Brokers and dealers

0.0
1.2
6.7
-2.6

0.0
7.7
6.6
-2.7

0.0
-9.2
9.5
-4.1

0.0
-13.8
11.9
-6.2

0.0
-20.3
17.7
-7.9

-0.0
25.7
8.9
-13.0

0.0
6.3
1.7
-4.4

17
18
19
20

F.12 Instrument Discrepancies
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

-167.9

-162.3

-129.9

-98.3

-183.8

-19.9

-74.3

1

2
3

Treasury currency
Foreign deposits

-0.3
25.0

-0.4
59.4

-0.2
106.2

-0.1
-8.5

-0.7
42.6

-1.2
55.9

-1.4
10.3

2
3

4
5

Net interbank transactions
Security RPs

-3.1
25.7

-3.3
2.4

-19.9
63.2

3.8
57.7

0.1
35.7

20.4
118.6

17.2
-52.2

4
5

6
7

Mail floats:
Federal government
Other

-6.0
-3.8

0.5
-4.0

-2.7
-3.9

2.6
-3.1

-7.4
-0.8

9.0
1.7

3.9
4.5

6
7

8
9

Trade credit
Taxes payable

16.4
21.1

-25.7
23.1

-25.5
28.0

-43.3
19.7

2.8
11.7

26.1
26.2

16.3
19.1

8
9

10

Miscellaneous

-200.0

-177.4

-248.3

-158.9

-301.4

-404.9

-209.2

10

11

Nonfinancial

-42.8

-36.6

-26.8

31.8

33.6

128.4

117.2

11

26.4
16.4

33.0
3.6

29.7
-2.9

-31.1
-0.7

-38.8
5.2

-128.4
0.0

-117.2
0.0

12
13

12
13

All types

Nonfinancial components (sign reversed):
Statistical discrepancy (NIPA)
Private wage accruals less disbursements

50

FFA, 1995-2001, September 16, 2002

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

1
2

Total credit market debt owed by:
Domestic nonfinancial sectors

1995

1996

1997

1998

1999

2000

2001

18439.3

19811.2

21309.1

23482.0

25694.9

27467.3

29485.9

1

13706.9

14440.2

15243.1

16285.5

17388.7

18267.9

19376.3

2

3

Federal government

3636.7

3781.7

3804.8

3752.2

3681.0

3385.1

3379.5

3

4

Nonfederal sectors

10070.2

10658.5

11438.3

12533.3

13707.7

14882.8

15996.8

4

4884.1
2909.1
1062.0
144.8
1070.2

5223.9
3092.2
1129.3
149.7
1063.4

5556.9
3382.0
1224.0
155.9
1119.5

6011.8
3774.1
1383.7
163.9
1199.8

6510.0
4210.1
1566.1
169.4
1252.1

7070.1
4616.4
1736.8
180.2
1279.3

7680.4
4852.5
1893.6
187.7
1382.5

5
6
7
8
9

5
6
7
8
9

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

10

Rest of the world

453.7

542.1

607.9

651.3

676.7

742.3

704.9

10

11

Financial sectors

4278.8

4828.8

5458.0

6545.2

7629.6

8457.0

9404.7

11

12
13
14
15

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

250.6
92.2
10.4
148.0

263.6
103.9
9.6
150.0

309.2
133.4
7.2
168.6

382.1
186.2
2.4
193.5

449.3
228.0
2.0
219.3

509.3
264.8
2.0
242.5

562.1
294.9
1.1
266.1

12
13
14
15

16
17

Savings institutions
Credit unions

115.0
0.4

140.5
0.4

160.3
0.6

212.4
1.1

260.4
3.4

287.7
3.4

295.1
4.9

16
17

18
19
20
21

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

0.5
806.5
1570.3
712.5

1.6
896.9
1711.3
863.3

1.8
995.3
1825.8
1076.6

2.5
1273.6
2018.4
1398.0

3.2
1591.7
2292.2
1621.4

2.5
1825.8
2491.6
1829.5

3.1
2114.0
2830.1
2138.9

18
19
20
21

22
23
24
25
26

Finance companies
Mortgage companies
REITs
Brokers and dealers
Funding corporations

483.9
16.5
44.6
29.3
248.6

534.5
20.6
56.5
27.3
312.4

568.3
16.0
96.1
35.3
372.6

625.5
17.7
158.8
42.5
412.6

695.7
17.8
165.1
25.3
504.0

776.9
17.9
167.8
40.9
503.7

776.7
18.6
170.2
42.3
448.4

22
23
24
25
26

18439.3

19811.2

21309.1

23482.0

25694.9

27467.3

29485.9

27

2930.0

3098.6

3105.2

3352.1

3678.1

3540.8

3452.7

28

1963.4
280.4
47.6
638.6

2172.0
270.2
51.6
604.8

2188.5
257.5
54.2
605.0

2303.7
241.5
67.5
739.4

2619.9
226.0
64.4
767.8

2479.6
231.0
63.2
767.0

2370.0
212.2
65.4
805.1

29
30
31
32

207.2
1493.4

200.1
1839.5

205.4
2097.7

219.0
2278.2

258.0
2354.6

265.3
2621.1

271.3
2954.4

33
34

13808.7

14672.9

15900.8

17632.7

19404.2

21040.1

22807.4

35

380.8

393.1

431.4

452.5

478.1

511.8

551.7

36

3520.1
3056.1
412.6
18.0
33.4

3707.7
3175.8
475.8
22.0
34.1

4031.9
3450.7
516.1
27.4
37.8

4336.1
3761.4
504.5
26.5
43.8

4648.3
4080.0
487.4
32.7
48.3

5006.3
4419.5
511.3
20.5
55.0

5210.5
4610.1
510.7
24.7
65.0

37
38
39
40
41

913.3
263.0
239.7

933.2
288.5
232.0

928.5
305.3
207.0

964.7
324.2
194.1

1032.4
351.7
222.0

1088.6
379.7
239.1

1131.4
421.2
249.5

42
43
44

27
28
29
30
31
32

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

33
34

Federal government
Rest of the world

35

Financial sectors

36

Monetary authority

37
38
39
40
41

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

42
43
44

Savings institutions
Credit unions
Bank personal trusts and estates

45
46
47
48

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

1587.5
468.7
631.2
529.6

1657.0
491.2
627.0
565.4

1751.1
515.3
674.6
632.5

1828.0
521.1
651.2
704.6

1886.0
518.2
668.2
751.4

1943.9
509.4
701.6
806.0

2074.8
518.4
721.9
788.4

45
46
47
48

49
50
51
52
53
54

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

545.5
771.3
96.2
761.1
1570.3
653.4

634.3
820.2
100.8
832.0
1711.3
773.9

721.9
901.1
98.3
938.3
1825.8
937.7

965.9
1028.4
103.8
1252.3
2018.4
1219.4

1147.8
1076.8
111.2
1543.5
2292.2
1424.6

1290.9
1097.8
106.4
1807.1
2491.6
1602.9

1536.9
1223.8
104.7
2114.3
2830.1
1886.2

49
50
51
52
53
54

55
56
57
58
59

Finance companies
Mortgage companies
REITs
Brokers and dealers
Funding corporations

526.2
33.0
26.0
183.4
108.4

545.1
41.2
30.4
167.7
121.0

568.2
32.1
50.6
182.6
166.7

645.5
35.3
45.5
189.4
152.3

742.5
35.6
42.9
154.7
276.0

850.5
35.9
36.6
223.6
310.4

844.8
37.2
43.3
316.1
202.3

55
56
57
58
59

(1) Excludes corporate equities and mutual fund shares.

FFA, 1995-2001, September 16, 2002

51

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

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

1995

1996

1997

1998

1999

2000

2001

13706.9

14440.2

15243.1

16285.5

17388.7

18267.9

19376.3

1

3636.7
3608.5
28.2

3781.7
3755.1
26.6

3804.8
3778.3
26.5

3752.2
3723.7
28.5

3681.0
3652.7
28.3

3385.1
3357.8
27.3

3379.5
3352.7
26.8

2
3
4

10070.2
157.4
1293.5
1344.1
863.6
736.9

10658.5
156.4
1296.0
1460.4
934.0
765.6

11438.3
168.6
1367.5
1610.9
1040.4
825.1

12533.3
193.0
1464.3
1829.6
1148.6
907.2

13707.7
230.3
1532.5
2059.5
1231.4
964.5

14882.8
278.4
1567.8
2230.6
1333.1
1077.1

15996.8
190.1
1685.4
2563.2
1251.4
1096.3

5
6
7
8
9
10

4551.9
3478.2
267.5
722.0
84.2
1122.8

4832.0
3720.0
277.3
747.8
86.9
1214.1

5154.3
3978.3
284.6
801.4
90.0
1271.6

5644.1
4366.0
308.0
873.6
96.6
1346.6

6243.4
4790.6
343.9
1006.5
102.3
1446.1

6802.8
5204.1
379.2
1110.7
108.9
1593.1

7507.2
5734.2
427.0
1229.6
116.3
1703.3

11
12
13
14
15
16

10070.2
4884.1
4115.9
2909.1
1062.0
144.8
1070.2

10658.5
5223.9
4371.2
3092.2
1129.3
149.7
1063.4

11438.3
5556.9
4761.9
3382.0
1224.0
155.9
1119.5

12533.3
6011.8
5321.7
3774.1
1383.7
163.9
1199.8

13707.7
6510.0
5945.5
4210.1
1566.1
169.4
1252.1

14882.8
7070.1
6533.4
4616.4
1736.8
180.2
1279.3

15996.8
7680.4
6933.8
4852.5
1893.6
187.7
1382.5

17
18
19
20
21
22
23

24

Foreign credit market debt
held in U.S.

453.7

542.1

607.9

651.3

676.7

742.3

704.9

24

25
26
27
28

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

56.2
299.4
34.6
63.6

67.5
366.3
43.7
64.7

65.1
427.7
52.1
63.0

72.9
462.6
58.7
57.1

89.2
476.7
59.2
51.6

120.9
500.6
70.5
50.3

106.7
488.4
63.2
46.6

25
26
27
28

14160.6

14982.3

15851.0

16936.8

18065.4

19010.3

20081.2

29

29

Domestic and foreign

L.3 Credit Market Debt Owed by Financial Sectors
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1
2
3
4
5
6
7
8
9
10
11
12

By instrument

4278.8

4828.8

5458.0

6545.2

7629.6

8457.0

9404.7

1

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

2376.8
806.5
1570.3
0.0

2608.2
896.9
1711.3
0.0

2821.1
995.3
1825.8
0.0

3292.0
1273.6
2018.4
0.0

3884.0
1591.7
2292.2
0.0

4317.4
1825.8
2491.6
0.0

4944.1
2114.0
2830.1
0.0

2
3
4
5

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

1901.9
486.9
1204.7
51.4
135.0
24.1

2220.6
579.1
1382.7
64.0
162.9
31.9

2636.9
745.7
1568.6
77.3
198.5
46.8

3253.2
906.7
1878.7
107.5
288.7
71.6

3745.6
1082.9
2096.9
93.2
395.8
76.7

4139.6
1210.7
2314.7
93.0
438.3
82.9

4460.6
1148.8
2647.6
106.8
473.2
84.2

6
7
8
9
10
11

4278.8

4828.8

5458.0

6545.2

7629.6

8457.0

9404.7

12

102.6
148.0
115.0
0.4

113.6
150.0
140.5
0.4

140.6
168.6
160.3
0.6

188.6
193.5
212.4
1.1

230.0
219.3
260.4
3.4

266.7
242.5
287.7
3.4

296.0
266.1
295.1
4.9

13
14
15
16

0.5
806.5
1570.3
712.5

1.6
896.9
1711.3
863.3

1.8
995.3
1825.8
1076.6

2.5
1273.6
2018.4
1398.0

3.2
1591.7
2292.2
1621.4

2.5
1825.8
2491.6
1829.5

3.1
2114.0
2830.1
2138.9

17
18
19
20

29.3
483.9
16.5
44.6
248.6

27.3
534.5
20.6
56.5
312.4

35.3
568.3
16.0
96.1
372.6

42.5
625.5
17.7
158.8
412.6

25.3
695.7
17.8
165.1
504.0

40.9
776.9
17.9
167.8
503.7

42.3
776.7
18.6
170.2
448.4

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

52

FFA, 1995-2001, September 16, 2002

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

1

1996

1997

1998

1999

2000

2001

18439.3

19811.2

21309.1

23482.0

25694.9

27467.3

29485.9

1

2
3
4
5

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

700.4
6013.6
1293.5
2848.1

803.0
6389.9
1296.0
3209.4

979.4
6625.9
1367.5
3607.2

1172.6
7044.2
1464.3
4170.9

1402.4
7564.9
1532.5
4633.1

1610.0
7702.5
1567.8
5045.8

1445.6
8323.6
1685.4
5699.2

2
3
4
5

6
7
8
9

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

949.6
935.4
4576.0
1122.8

1041.7
993.2
4863.9
1214.1

1169.8
1086.5
5201.1
1271.6

1314.8
1253.0
5715.7
1346.6

1383.8
1412.0
6320.1
1446.1

1496.6
1565.7
6885.7
1593.1

1421.4
1616.0
7591.4
1703.3

6
7
8
9

8474.8
1852.8

10281.6
2342.4

13301.7
2989.4

15577.3
3613.1

19581.2
4538.5

17611.9
4434.6

15209.3
4135.5

10
11

10
11

Total

1995

Memo:
Selected claims not included above:
Corporate equities
Mutual fund shares

L.5 Total Liabilities and Its Relation to Total Financial Assets
Billions of dollars; amounts outstanding end of period, not seasonally adjusted

1

Total credit market debt
(from table L.4)

18439.3

19811.2

21309.1

23482.0

25694.9

27467.3

29485.9

1

2
3
4
5
6

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

63.7
10.2
18.3
418.8
290.7

53.7
9.7
18.9
521.7
240.8

48.9
9.2
19.3
618.5
219.4

60.1
9.2
19.9
642.3
189.4

50.1
6.2
20.9
703.6
202.4

46.1
2.2
23.2
824.5
221.2

46.8
2.2
23.2
908.9
187.7

2
3
4
5
6

7
8
9
10
11

Checkable deposits and currency
Small time and savings deposits
Large time deposits
Money market fund shares
Security RPs

1229.1
2279.7
476.9
741.3
660.0

1244.8
2377.0
590.9
886.7
701.5

1286.1
2474.1
713.4
1042.5
822.4

1333.3
2626.5
805.3
1329.7
913.8

1484.5
2671.5
936.4
1578.8
1083.6

1413.1
2860.3
1052.6
1812.1
1196.8

1601.4
3127.5
1121.1
2240.7
1233.6

7
8
9
10
11

12
13
14
15

Mutual fund shares
Security credit
Life insurance reserves
Pension fund reserves

1852.8
305.7
566.2
5671.3

2342.4
358.1
610.6
6325.1

2989.4
469.1
665.0
7323.4

3613.1
572.2
718.3
8208.4

4538.5
676.6
783.9
9065.3

4434.6
822.7
819.1
9069.0

4135.5
825.9
880.0
8694.0

12
13
14
15

16
17
18
19

Trade payables
Taxes payable
Investment in bank personal trusts
Miscellaneous

1704.3
109.3
803.0
5967.8

1827.6
128.8
871.3
6388.0

1967.4
151.1
942.5
6733.2

2073.8
170.7
1001.0
7633.8

2342.4
193.9
1130.4
8489.4

2512.6
215.6
1019.4
9387.4

2493.4
229.9
912.0
10083.1

16
17
18
19

41608.4

45308.6

49803.8

55402.6

61653.3

65199.9

68232.9

20

20

Total liabilities

21
22
23

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

22.1
8474.8
3598.3

21.4
10281.6
3787.4

21.1
13301.7
4052.7

21.6
15577.3
4285.7

21.4
19581.2
4544.3

21.6
17611.9
4797.8

21.8
15209.3
4877.1

21
22
23

24
25
26

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

-5.7
358.4
-9.0

-6.1
434.9
-10.6

-6.3
535.0
-32.2

-6.4
542.8
-26.5

-7.1
585.7
-28.5

-8.5
627.4
-4.3

-9.8
694.1
11.1

24
25
26

107.4
64.1
-795.4

109.8
81.9
-1136.3

172.9
104.2
-1376.6

230.6
121.2
-1956.1

266.4
121.9
-2447.0

385.0
127.7
-3006.7

346.3
100.0
-3207.4

27
28
29

27
28
29

Security RPs
Taxes payable
Miscellaneous

30
31
32

- Floats not included in assets:
Checkable deposits: Federal govt.
Other
Trade credit

3.1
34.2
190.4

-1.6
30.1
164.7

-8.1
26.2
128.1

-3.9
23.1
84.8

-9.8
22.3
91.7

-2.3
24.0
117.7

-14.1
28.6
134.0

30
31
32

33

Totals identified to sectors as assets

53756.3

59732.2

67636.0

76277.6

87204.5

89370.9

90258.5

33

FFA, 1995-2001, September 16, 2002

53

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

1

Total financial assets

1995

1996

1997

1998

1999

2000

2001

18631.0

20969.4

24329.3

27320.1

31802.4

30549.0

29035.1

1

2
3
4
5

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

23.4
665.2
2352.2
467.2

35.5
611.2
2509.0
519.9

37.2
600.0
2651.6
605.2

38.3
606.5
2827.2
779.7

43.5
587.8
2906.0
914.2

58.5
584.6
3192.0
1056.9

53.5
624.8
3413.0
1234.6

2
3
4
5

6

Securities

7177.7

8469.0

10324.7

11733.7

14783.4

12981.2

11323.9

6

48.0
185.0
658.6
107.3

54.7
187.0
713.0
192.1

56.1
186.5
618.2
213.7

63.7
186.6
585.6
231.6

67.7
186.4
693.9
351.6

72.7
184.8
489.2
383.6

53.3
190.3
411.3
272.8

7
8
9
10

457.6
423.3
4139.0
1158.9

435.8
511.0
4880.0
1495.4

471.9
567.8
6269.1
1941.2

489.8
676.7
7098.3
2401.3

527.4
722.2
9122.7
3111.5

552.5
720.9
7484.5
3093.1

600.6
763.8
6076.6
2955.2

11
12
13
14

536.3
880.6
2964.0
1856.6

580.1
953.9
3295.2
2106.5

632.7
1086.1
3793.6
2476.0

684.7
1248.1
4231.9
2761.9

748.9
1431.0
4687.9
2981.3

782.7
1456.1
4576.4
3072.8

842.2
1465.3
4236.5
3030.0

15
16
17
18

803.0
905.0

871.3
1017.6

942.5
1179.8

1001.0
1407.0

1130.4
1587.9

1019.4
1768.4

912.0
1899.4

19
20

6642.9

7147.0

7722.4

8496.9

9388.5

10255.1

11058.8

21

7
8
9
10

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

11
12
13
14

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

15
16
17
18

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

19
20

Investment in bank personal trusts
Miscellaneous and other assets

21

Total liabilities

22
23
24

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

3471.4
863.2
1122.8

3712.2
892.3
1214.1

3970.3
923.8
1271.6

4356.6
1010.3
1346.6

4779.1
1118.8
1446.1

5190.6
1216.7
1593.1

5718.6
1334.9
1703.3

22
23
24

25
26
27

Policy loans
Security credit
Other liabilities (3)

96.9
78.6
1010.1

101.4
94.4
1132.6

104.6
131.2
1320.8

104.7
152.8
1525.9

100.0
227.9
1716.7

102.8
235.1
1916.8

105.0
196.4
2000.6

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.

54

FFA, 1995-2001, September 16, 2002

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

1
2
3
4
5
6
7

Total financial assets
Deposits
Foreign deposits
Checkable deposits and currency
Time and savings deposits
Money market fund shares
Credit market instruments

1995

1996

1997

1998

1999

2000

2001

21617.3

24046.9

27531.7

30542.2

35089.0

33953.4

32401.8

1

3298.0

3440.7

3622.2

3927.4

4053.0

4439.7

4827.6

2

23.4
543.8
2280.7
450.1

35.5
470.6
2434.0
500.7

37.2
436.8
2565.9
582.3

38.3
409.5
2732.4
747.1

43.5
348.3
2788.0
873.2

58.5
324.9
3050.0
1006.4

53.5
349.1
3250.6
1174.3

3
4
5
6

1963.4

2172.0

2188.5

2303.7

2619.9

2479.6

2370.0

7

8
9
10
11
12
13

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

48.0
927.3
819.9
185.0
634.9
107.3

54.7
1063.6
871.5
187.0
684.5
192.1

56.1
986.2
772.5
186.5
586.0
213.7

63.7
965.9
734.2
186.6
547.6
231.6

67.7
1194.8
843.3
186.4
656.8
351.6

72.7
1025.7
642.1
184.8
457.4
383.6

53.3
844.0
571.3
190.3
380.9
272.8

8
9
10
11
12
13

14
15
16

Municipal securities
Corporate and foreign bonds
Mortgages

455.4
423.3
109.5

433.2
511.0
109.5

468.8
567.8
109.6

486.9
676.7
110.5

524.8
722.2
110.4

549.0
720.9
111.4

596.7
763.8
112.2

14
15
16

4139.0
1158.9
127.6
566.2
5671.3
803.0
3598.3
291.7

4880.0
1495.4
162.9
610.6
6325.1
871.3
3787.4
301.4

6269.1
1941.2
215.5
665.0
7323.4
942.5
4052.7
311.7

7098.3
2401.3
276.7
718.3
8208.4
1001.0
4285.7
321.4

9122.7
3111.5
323.9
783.9
9065.3
1130.4
4544.3
334.2

7484.5
3093.1
412.4
819.1
9069.0
1019.4
4797.8
338.9

6076.6
2955.2
454.3
880.0
8694.0
912.0
4877.1
354.9

17
18
19
20
21
22
23
24

5081.3

5445.8

5824.8

6308.5

6888.3

7463.5

8040.6

25

4884.1

5223.9

5556.9

6011.8

6510.0

7070.1

7680.4

26

3353.3
1122.8
98.3

3577.7
1214.1
104.9

3818.1
1271.6
114.9

4157.2
1346.6
126.9

4531.1
1446.1
137.3

4901.6
1593.1
143.0

5379.4
1703.3
154.3

27
28
29

57.4
160.3
91.9

58.0
172.7
96.6

66.5
190.7
95.1

72.6
204.0
104.5

65.6
218.9
111.2

72.3
246.3
113.9

55.5
263.2
124.7

30
31
32

78.6
101.1

94.4
109.1

131.2
118.0

152.8
126.8

227.9
130.9

235.1
138.6

196.4
144.7

33
34

17.5

18.3

18.6

17.2

19.4

19.6

19.1

35

17
18
19
20
21
22
23
24
25
26

Corporate equities (2)
Mutual fund shares
Security credit
Life insurance reserves
Pension fund reserves
Investment in bank personal trusts
Equity in noncorporate business
Miscellaneous assets
Total liabilities
Credit market instruments

27
28
29

Home mortgages (3)
Consumer credit
Municipal securities

30
31
32

Bank loans n.e.c.
Other loans and advances
Commercial mortgages

33
34
35

Security credit
Trade payables
Deferred and unpaid
life insurance premiums

(1) Sector includes farm households. Supplementary tables (tables F.100.a and L.100.a) show estimates of annual flows and year-end outstandings of nonprofit organizations.
(2) 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.

FFA, 1995-2001, September 16, 2002

55

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

1

1996

1997

1998

1999

2000

2001

5567.7

6162.0

6644.3

7869.2

9352.7

10255.6

10632.1

1

2
3
4
5
6

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

17.4
326.5
171.1
77.0
2.4

28.2
385.0
174.7
86.9
3.9

23.1
415.1
205.1
110.7
4.6

30.5
484.1
207.4
146.9
4.2

31.5
565.5
277.4
178.4
5.8

47.5
594.2
318.7
228.3
8.2

37.1
617.8
366.2
335.2
8.0

2
3
4
5
6

7

Credit market instruments

328.0

321.8

311.7

309.0

290.4

294.2

277.6

7

20.1
104.1
39.0
79.7
85.1

31.5
104.1
33.6
74.7
77.7

36.1
67.1
30.6
99.0
78.9

39.4
72.2
28.6
93.9
74.9

47.6
68.9
27.6
65.9
80.3

61.4
64.8
26.4
59.1
82.7

56.4
73.8
20.0
59.4
67.9

8
9
10
11
12

45.7
1325.3
3274.3

59.9
1442.9
3658.8

69.1
1571.5
3933.5

95.5
1686.7
4904.9

128.9
1929.8
5945.1

129.2
2035.1
6600.2

107.8
1963.8
6918.6

13
14
15

7571.1

8079.8

8526.4

9646.0

10907.5

11965.4

12581.9

16

8
9
10
11
12
13
14
15
16
17

Total financial assets

1995

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

4115.9

4371.2

4761.9

5321.7

5945.5

6533.4

6933.8

17

18
19
20

Commercial paper
Municipal securities
Corporate bonds

157.4
134.8
1344.1

156.4
137.9
1460.4

168.6
142.0
1610.9

193.0
147.8
1829.6

230.3
152.8
2059.5

278.4
154.2
2230.6

190.1
157.4
2563.2

18
19
20

21
22
23

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

806.2
566.8
1106.7

876.0
582.8
1157.7

973.9
625.4
1241.1

1076.0
693.1
1382.4

1165.8
735.9
1601.2

1260.8
822.1
1787.3

1195.9
824.1
2003.1

21
22
23

979.9
77.9
2397.5

1061.3
92.4
2555.0

1158.7
109.0
2496.8

1238.8
122.8
2962.7

1458.3
139.0
3364.6

1606.7
153.5
3671.8

1546.0
160.4
3941.7

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.

56

FFA, 1995-2001, September 16, 2002

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

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

1995

1996

1997

1998

1999

2000

2001

4958.5

5457.7

5808.7

6816.1

8093.8

8824.7

9061.3

1

17.4
205.1
99.7
60.0
2.4

28.2
244.3
99.7
67.6
3.9

23.1
251.9
119.4
87.8
4.6

30.5
287.1
112.6
114.3
4.2

31.5
326.0
159.4
137.3
5.8

47.5
334.6
176.7
177.7
8.2

37.1
342.2
203.8
275.0
8.0

2
3
4
5
6

7
8
9
10
11
12
13

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

20.1
80.5
36.8
57.9
85.1
1184.9
45.7

31.5
75.6
31.0
54.4
77.7
1273.1
59.9

36.1
34.8
27.4
80.2
78.9
1366.6
69.1

39.4
34.2
25.7
67.3
74.9
1452.9
95.5

47.6
31.8
25.0
41.2
80.3
1653.4
128.9

61.4
32.9
22.9
31.2
82.7
1716.4
129.2

56.4
43.5
16.1
28.2
67.9
1630.0
107.8

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

3062.9
778.7
183.6
1.8
25.5
2073.3

3410.8
866.5
186.2
1.6
27.3
2329.3

3628.7
933.1
188.1
0.5
23.5
2483.5

4477.5
1041.2
189.8
-0.2
17.1
3229.6

5425.6
1188.9
190.8
-0.8
43.9
4002.8

6003.5
1304.0
190.4
-0.8
51.3
4458.6

6245.2
1389.5
200.8
-8.1
49.6
4613.4

14
15
16
17
18
19

20

6009.5

6378.6

6628.8

7457.6

8407.3

9173.8

9563.7

20

21

Credit market instruments

2909.1

3092.2

3382.0

3774.1

4210.1

4616.4

4852.5

21

22
23
24
25

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

157.4
134.8
1344.1
601.8

156.4
137.9
1460.4
642.1

168.6
142.0
1610.9
692.7

193.0
147.8
1829.6
764.7

230.3
152.8
2059.5
825.5

278.4
154.2
2230.6
887.9

190.1
157.4
2563.2
816.5

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

453.7
6.4
271.4
10.0
14.2
122.1
29.6
217.4

467.9
7.9
274.2
8.7
13.4
126.0
37.7
227.6

507.7
9.4
273.7
8.4
10.8
143.3
62.1
260.2

562.0
12.1
306.8
8.3
6.6
142.3
85.9
277.2

596.5
15.3
355.6
8.0
4.4
119.5
93.6
345.6

669.9
19.7
412.6
7.6
4.3
117.3
108.4
395.5

671.6
21.5
402.3
7.4
4.1
115.7
120.8
453.7

26
27
28
29
30
31
32
33

877.5
40.3
2182.6
641.1
82.4
1459.1

927.0
49.9
2309.5
698.4
86.4
1524.7

992.1
59.2
2195.5
750.6
93.5
1351.3

1049.7
64.1
2569.7
811.7
114.9
1643.1

1228.2
71.0
2898.0
969.2
110.1
1818.7

1340.7
78.0
3138.8
1132.8
111.3
1894.6

1259.8
78.1
3373.2
1196.6
112.6
2064.0

34
35
36
37
38
39

34
35
36
37
38
39

Total liabilities

Trade payables
Taxes payable
Miscellaneous liabilities
Foreign direct investment in U.S.
Pension fund contributions payable
Other
Memo:

40
41

Trade receivables net of payables
Market value of equities

307.4
6414.1

346.1
7644.4

374.5
9774.6

403.2
11606.7

425.2
15191.1

375.8
12684.1

370.2
10746.6

40
41

42
43

Securities and mortgages
Loans and short-term paper

1696.3
1212.8

1825.8
1266.4

2013.0
1369.0

2254.5
1519.6

2557.8
1652.3

2780.2
1836.2

3174.3
1678.3

42
43

44
45

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

2130.6
567.7

2243.3
641.7

2420.3
654.3

2633.3
743.6

2951.5
893.3

3254.8
990.9

3016.2
1089.9

44
45

46
47

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

58.3
41.7

59.0
41.0

59.5
40.5

59.7
40.3

60.8
39.2

60.2
39.8

65.4
34.6

46
47

48

Liquid assets/short-term liabilities

26.6

28.6

27.0

28.2

30.3

30.4

36.1

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.

FFA, 1995-2001, September 16, 2002

57

L.103 Nonfarm Noncorporate Business
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

1

Total financial assets

2
3
4

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

5
6
7
8

Treasury securities
Municipal securities
Mortgages
Consumer credit

9
10
11
12
13
14
15
16
17
18
19
20
21

Trade receivables
Miscellaneous assets
Insurance receivables
Equity investment in GSEs (1)
Other
Total liabilities
Credit market instruments
Bank loans n.e.c.
Other loans and advances
Mortgages
Trade payables
Taxes payable
Miscellaneous liabilities

1996

1997

1998

1999

2000

2001

548.1

643.2

773.8

989.1

1194.1

1366.0

1504.1

1

104.7
71.5
17.0

124.0
75.0
19.2

146.2
85.7
22.9

178.3
94.8
32.6

220.3
118.0
41.0

240.3
142.0
50.5

255.9
162.3
60.2

2
3
4

23.6
2.2
21.7
0.0

28.6
2.6
20.4
0.0

32.2
3.2
18.7
0.0

38.0
2.8
26.7
0.0

37.1
2.6
24.7
0.0

31.9
3.5
27.8
0.0

30.4
3.9
31.1
0.0

5
6
7
8

140.3
167.0
44.2
1.0
121.9

169.8
203.5
44.8
1.7
157.1

204.9
259.9
45.2
1.7
213.0

233.8
382.1
45.6
1.6
334.9

276.4
473.9
45.9
1.6
426.4

318.7
551.2
45.8
1.6
503.8

333.8
626.5
48.3
1.5
576.7

9
10
11
12
13

1400.7

1534.1

1722.9

2004.9

2310.9

2590.5

2809.5

14

1062.0

1129.3

1224.0

1383.7

1566.1

1736.8

1893.6

15

164.7
92.3
805.0

193.6
92.5
843.2

237.3
95.8
890.9

266.3
108.9
1008.6

296.2
116.6
1153.3

326.0
127.8
1283.0

332.5
128.0
1433.1

16
17
18

86.2
37.6
214.8

116.8
42.5
245.5

147.8
49.8
301.3

169.5
58.7
393.0

210.2
68.0
466.6

245.2
75.5
533.1

265.2
82.3
568.4

19
20
21

(1) Equity in the Farm Credit System.

L.104 Farm Business (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

61.2

61.1

61.7

64.0

64.8

64.9

66.8

1

2

Checkable deposits and currency

16.7

16.7

16.9

18.6

19.2

19.4

19.8

2

3
4
5

Miscellaneous assets
Insurance receivables
Equity investment in GSEs (2)

44.5
42.3
2.2

44.4
42.9
1.5

44.8
43.3
1.5

45.4
43.7
1.7

45.6
43.9
1.6

45.5
43.9
1.6

47.0
45.3
1.7

3
4
5

161.0

167.1

174.7

183.5

189.4

201.1

208.7

6

144.8

149.7

155.9

163.9

169.4

180.2

187.7

7

39.7
20.8
84.2

40.4
22.4
86.9

43.9
21.9
90.0

45.1
22.2
96.6

44.2
22.8
102.3

46.9
24.5
108.9

46.9
24.5
116.3

8
9
10

16.2

17.4

18.8

19.6

20.0

20.9

21.0

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.

58

FFA, 1995-2001, September 16, 2002

L.105 State and Local Governments (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

1

1997

1998

1999

2000

2001

994.1

1007.9

1033.3

1180.3

1257.8

1296.0

1350.0

1

2
3
4

Checkable deposits and currency
Time and savings deposits
Security RPs

33.3
62.0
115.7

27.8
72.6
147.8

32.2
78.4
151.4

28.3
91.1
158.5

32.2
102.1
163.5

33.2
111.5
173.3

38.2
119.2
154.9

2
3
4

5

Credit market instruments

6
7
8
9
10
11
12

Total financial assets

1996

638.6

604.8

605.0

739.4

767.8

767.0

805.1

5

Open market paper
U.S. government securities
Treasury
Agency

39.4
441.3
289.8
151.5

59.7
373.2
257.0
116.2

74.0
354.8
239.3
115.4

102.0
448.3
269.3
179.0

108.9
456.8
266.8
190.0

116.5
439.7
236.2
203.5

90.0
489.8
256.5
233.3

6
7
8
9

Municipal securities
Corporate and foreign bonds
Mortgages

5.1
39.0
113.8

4.6
49.7
117.6

3.9
51.0
121.3

2.5
61.2
125.4

1.0
71.3
129.8

1.6
75.0
134.3

1.9
84.4
139.0

10
11
12

13
14

Corporate equities
Mutual fund shares

26.2
35.0

46.8
41.0

79.0
33.6

102.0
21.3

115.0
25.6

115.1
26.4

126.3
31.5

13
14

15
16

Taxes receivable
Miscellaneous assets

27.9
55.4

26.1
41.0

26.9
27.0

28.1
11.5

33.5
18.1

45.6
24.0

50.1
24.7

15
16

17

1556.9

1581.0

1668.5

1779.3

1860.7

1915.2

2043.7

17

18

Credit market instruments

1070.2

1063.4

1119.5

1199.8

1252.1

1279.3

1382.5

18

19
20
21
22

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

1060.4
32.9
1027.5
9.8

1053.3
39.1
1014.1
10.1

1110.6
47.5
1063.1
8.9

1189.7
41.2
1148.5
10.1

1242.4
44.8
1197.6
9.7

1270.6
47.9
1222.7
8.7

1373.6
68.5
1305.1
8.9

19
20
21
22

486.7

517.6

549.0

579.5

608.6

635.9

661.1

23

23

Total liabilities

Trade payables

(1) Data for employee retirement funds are shown in table L.120.

L.106 Federal Government
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

Total financial assets

2
3
4

Gold, SDRs, and official foreign exchange
Checkable deposits and currency
Time and savings deposits

5

Credit market instruments

6
7
8
9
10
11
12

Agency securities
Mortgages
Other loans and advances
Trade receivables
Taxes receivable
Miscellaneous assets
Total liabilities

13
14

SDR certificates
Treasury currency

15

Credit market instruments

16
17
18
19
20
21
22

Savings bonds
Other Treasury securities
Budget agency securities
Multifamily residential mortgages
Trade payables
Insurance and pension reserves
Miscellaneous liabilities

441.3

440.7

437.9

442.9

557.4

506.4

607.4

1

53.8
22.2
0.9

44.9
38.3
2.4

42.0
41.6
3.4

51.0
23.2
4.7

44.4
87.9
5.4

41.0
24.3
6.3

43.1
66.9
10.5

2
3
4

207.2

200.1

205.4

219.0

258.0

265.3

271.3

5

0.0
57.5
149.7

0.0
50.3
149.9

0.0
45.7
159.7

0.0
44.9
174.1

0.0
77.7
180.2

0.0
76.9
188.4

0.0
75.8
195.6

6
7
8

23.1
17.3
116.9

24.0
20.7
110.2

20.8
20.0
104.8

22.3
21.4
101.3

22.9
38.5
100.4

28.1
42.4
99.0

35.4
79.8
100.3

9
10
11

4289.2

4491.2

4546.8

4529.4

4498.3

4203.7

4269.2

12

10.2
18.3

9.7
18.9

9.2
19.3

9.2
19.9

6.2
20.9

2.2
23.2

2.2
23.2

13
14

3636.7

3781.7

3804.8

3752.2

3681.0

3385.1

3379.5

15

185.0
3423.5
28.2
0.0

187.0
3568.1
26.6
0.0

186.5
3591.8
26.5
0.0

186.6
3537.0
28.5
0.0

186.4
3466.2
28.3
0.0

184.8
3173.0
27.3
0.0

190.3
3162.4
26.8
0.0

16
17
18
19

81.1
536.2
6.7

81.8
591.9
7.3

72.9
634.0
6.6

65.0
676.5
6.7

64.7
719.0
6.6

45.5
741.3
6.4

54.5
803.6
6.2

20
21
22

FFA, 1995-2001, September 16, 2002

59

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

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

1995

1996

1997

1998

1999

2000

2001

3434.5

4042.1

4627.3

5199.6

5800.3

6516.1

6960.2

1

229.3
193.8
49.6
67.6

177.3
213.7
60.6
70.9

173.0
243.6
73.6
90.8

145.9
258.4
86.6
72.0

140.3
298.3
101.6
79.9

161.1
289.9
107.4
91.3

111.8
314.1
92.9
150.7

2
3
4
5

1493.4

1839.5

2097.7

2278.2

2354.6

2621.1

2954.4

6

43.4
966.4
507.5
490.0
17.5

57.9
1222.4
631.1
606.4
24.7

77.8
1375.1
648.2
615.1
33.1

115.3
1412.8
669.8
622.9
46.8

102.3
1380.6
693.8
617.7
76.1

111.9
1471.4
749.9
625.2
124.7

118.1
1594.4
798.8
650.7
148.1

7
8
9
10
11

458.9
330.2
128.7

591.3
440.8
150.5

726.9
550.6
176.3

743.0
562.0
181.0

686.8
462.8
224.1

721.5
401.0
320.5

795.5
388.8
406.7

12
13
14

361.5
122.1

433.2
126.0

501.6
143.3

607.8
142.3

752.1
119.5

920.6
117.3

1126.3
115.7

15
16

17
18
19

U.S. corporate equities
Trade receivables
Security credit

549.5
52.6
0.0

672.4
58.1
0.0

952.9
59.0
0.0

1250.3
52.5
0.0

1611.5
47.5
0.0

1625.5
47.0
0.0

1533.8
44.3
0.0

17
18
19

20
21
22

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

798.7
680.1
118.6

949.7
745.6
204.1

936.7
824.1
112.6

1055.6
919.8
135.8

1166.6
1100.8
65.8

1572.8
1374.8
198.0

1758.0
1498.9
259.1

20
21
22

2011.7

2316.8

2562.0

2788.3

3107.9

3459.4

3628.3

23

23

Total liabilities

24
25

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

63.7
418.8

53.7
521.7

48.9
618.5

60.1
642.3

50.1
703.6

46.1
824.5

46.8
908.9

24
25

26

Credit market instruments

453.7

542.1

607.9

651.3

676.7

742.3

704.9

26

56.2
299.4

67.5
366.3

65.1
427.7

72.9
462.6

89.2
476.7

120.9
500.6

106.7
488.4

27
28

34.6
2.6
10.9
21.1
55.4
8.2

43.7
2.9
14.3
26.5
54.7
9.9

52.1
2.1
13.8
36.3
53.2
9.7

58.7
2.8
13.1
42.8
52.4
4.7

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

29
30
31
32
33
34

45.3
0.0

43.6
0.0

48.8
0.0

44.9
0.0

49.1
0.0

49.9
0.0

47.8
0.0

35
36

1030.2
27.4
2.3
885.5
115.0

1155.6
29.2
2.2
989.8
134.4

1237.9
30.8
2.1
1068.1
136.9

1389.8
32.4
2.0
1196.2
159.2

1628.4
33.9
2.6
1377.3
214.7

1796.5
35.4
2.6
1515.3
243.3

1919.9
37.1
2.6
1623.1
257.1

37
38
39
40
41

776.8

1002.9

1207.8

1476.2

2026.6

1832.4

1564.7

42

27
28

Commercial paper
Bonds

29
30
31
32
33
34

Bank loans n.e.c.
Official
Banks
Other
U.S. government loans
Acceptance liabilities to banks

35
36

Trade payables
Security debt

37
38
39
40
41

Miscellaneous liabilities
U.S. equity in IBRD, etc.
U.S. government deposits
U.S. direct investment abroad (1,2)
Other
Memo:

42

Market value of foreign equities
held by U.S. residents (3)

(1) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries; U.S. direct investment abroad excludes net inflows from those bond issues.
(2) Direct investment is valued on a current-cost basis.
(3) Includes American Depositary Receipts (ADRs).

60

FFA, 1995-2001, September 16, 2002

L.108 Monetary Authority (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

1

1997

1998

1999

2000

2001

471.9

495.2

534.0

566.8

696.9

636.0

683.0

1

2
3
4

Gold and foreign exchange
SDR certificates
Treasury currency

32.1
10.2
24.0

30.2
9.7
25.0

28.0
9.2
25.6

30.7
9.2
26.3

27.1
6.2
28.0

26.6
2.2
31.6

25.5
2.2
33.0

2
3
4

5
6
7

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

0.1
0.1
13.9

4.3
0.1
21.6

0.7
2.0
23.8

1.6
0.0
30.4

-0.2
0.2
140.6

0.9
0.1
43.4

-0.0
0.0
50.3

5
6
7

8

Credit market instruments

380.8

393.1

431.4

452.5

478.1

511.8

551.7

8

0.0
380.8
378.2
2.6
0.0

0.0
393.1
390.9
2.2
0.0

0.0
431.4
430.7
0.7
0.0

0.0
452.5
452.1
0.3
0.0

0.0
478.1
478.0
0.2
0.0

0.0
511.8
511.7
0.1
0.0

0.0
551.7
551.7
0.0
0.0

9
10
11
12
13

10.7

11.2

13.2

16.1

16.8

19.3

20.3

14

467.9

490.7

528.8

560.9

690.5

629.2

675.7

15

9
10
11
12
13
14
15

Total financial assets

1996

Acceptances
U.S. government securities
Treasury
Agency
Bank loans n.e.c.
Miscellaneous assets
Total liabilities

16
17

Depository institution reserves
Vault cash of commercial banks

29.6
40.6

24.5
45.2

30.8
45.0

26.3
42.1

24.0
66.6

19.0
44.4

17.5
47.3

16
17

18
19
20
21

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

390.3
6.2
0.4
383.7

413.6
8.0
0.2
405.5

443.5
5.7
0.5
437.4

481.8
6.2
0.2
475.4

590.4
28.5
0.1
561.8

555.2
5.6
0.3
549.3

603.1
7.1
0.1
596.0

18
19
20
21

22
23
24

Miscellaneous liabilities
Federal Reserve Bank stock
Other

7.4
4.0
3.5

7.4
4.6
2.8

9.5
5.4
4.0

10.7
6.0
4.8

9.4
6.4
3.0

10.6
7.0
3.6

7.7
7.4
0.4

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.

FFA, 1995-2001, September 16, 2002

61

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

1

Total financial assets

2
3
4

Vault cash
Reserves at Federal Reserve
Checkable deposits and currency

5

Total bank credit

1995

1996

1997

1998

1999

2000

2001

4493.8

4710.4

5174.6

5628.6

5982.5

6468.7

6830.7

1

40.6
26.9
1.6

45.2
22.3
1.4

45.0
29.1
1.4

42.1
24.4
2.0

66.6
19.3
2.2

44.4
17.4
1.7

47.3
15.2
2.8

2
3
4

3604.6

3794.5

4144.5

4483.6

4788.5

5200.8

5411.3

5

U.S. government securities
Treasury
Agency

746.1
278.7
467.5

757.5
261.8
495.7

841.2
270.1
571.2

877.3
214.1
663.2

928.5
228.9
699.6

906.4
184.5
721.8

940.1
162.7
777.4

6
7
8

9
10

Municipal securities
Corporate and foreign bonds

93.4
110.9

94.2
112.3

96.7
143.1

104.8
180.9

110.8
220.5

114.1
278.6

120.2
376.4

9
10

11
12
13
14
15
16

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

2646.9
5.7
949.6
1090.2
502.0
99.5

2821.1
6.5
1041.7
1145.4
526.8
100.8

3052.9
2.7
1169.8
1245.3
512.6
122.5

3304.6
1.1
1314.8
1337.0
508.9
142.8

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
1421.4
1789.8
558.0
175.2

11
12
13
14
15
16

17
18

Corporate equities
Mutual fund shares

5.0
2.3

6.8
2.6

2.6
8.1

6.8
9.1

11.3
12.4

11.9
15.0

8.9
21.3

17
18

22.3
797.8

23.4
823.7

20.6
934.0

11.3
1065.2

8.2
1097.7

7.5
1196.9

4.6
1349.6

19
20

4333.2

4547.4

5053.0

5505.7

5833.5

6407.1

6768.5

21

6
7
8

19
20
21

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

22
23
24
25

Net interbank liabilities
To monetary authority
To domestic banks (3)
To foreign banks

220.5
0.2
-9.0
229.3

171.1
4.4
-10.6
177.3

143.5
2.8
-32.2
173.0

121.0
1.7
-26.5
145.9

111.8
-0.0
-28.5
140.3

157.8
1.0
-4.3
161.1

122.9
0.0
11.1
111.8

22
23
24
25

26
27
28
29

Checkable deposits
Federal government
Rest of the world
Private domestic

710.8
19.0
24.1
667.7

676.3
28.7
26.9
620.7

656.4
27.8
31.7
597.0

622.9
13.2
30.2
579.6

626.4
49.6
43.6
533.2

540.9
16.4
33.9
490.6

627.1
45.7
34.5
546.9

26
27
28
29

30
31
32

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

1490.1
387.8
422.2

1613.2
493.1
463.2

1761.5
601.0
552.2

1945.2
673.1
639.2

2017.1
792.6
750.0

2228.7
885.4
816.1

2478.1
918.1
788.3

30
31
32

33

Credit market instruments

250.6

263.6

309.2

382.1

449.3

509.3

562.1

33

52.8
161.1
36.7

55.7
168.9
39.0

58.5
192.6
58.1

56.9
220.2
104.9

63.1
240.6
145.6

63.6
273.2
172.4

55.4
310.2
196.6

34
35
36

2.8
848.4

4.0
863.0

5.4
1023.7

7.1
1115.2

9.0
1077.4

11.1
1257.8

13.5
1258.4

37
38

3520.1

3707.7

4031.9

4336.1

4648.3

5006.3

5210.5

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).

62

FFA, 1995-2001, September 16, 2002

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

1

Total financial assets

2

Vault cash and reserves at Federal Reserve

3

Total bank credit

4
5
6
7
8
9

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

10
11
12
13
14

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

15
16
17
18
19
20

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

21
22

Corporate equities
Mutual fund shares

23
24
25

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

1995

1996

1997

1998

1999

2000

2001

3321.7

3444.5

3742.2

4080.6

4431.2

4774.1

5014.5

1

66.6

66.3

71.2

65.5

84.4

61.3

61.9

2

3116.3

3231.5

3512.2

3844.6

4164.5

4515.2

4718.6

3

629.1
207.6
421.5
195.1
101.0
125.3

609.7
173.0
436.7
216.6
89.5
130.7

664.0
166.8
497.2
247.7
107.0
142.4

703.7
124.8
578.9
301.5
115.9
161.5

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

4
5
6
7
8
9

92.7
69.3
4.5
24.9
39.8

93.7
64.8
4.2
21.8
38.9

96.1
85.8
3.0
22.5
60.4

104.4
118.2
3.9
42.8
71.5

110.2
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

10
11
12
13
14

2317.9
3.9
701.6
1045.4
502.0
65.1

2453.9
4.2
759.8
1102.9
526.8
60.2

2655.6
2.3
867.9
1208.4
512.6
64.4

2902.3
0.8
1012.0
1304.3
508.9
76.3

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
1140.9
1752.8
558.0
81.9

15
16
17
18
19
20

5.0
2.3

6.8
2.6

2.6
8.1

6.8
9.1

11.3
12.4

11.9
15.0

8.9
21.3

21
22

12.3
126.6

13.9
132.8

13.7
145.2

9.1
161.5

6.6
175.6

5.9
191.7

3.6
230.4

23
24

3457.6

3598.7

3959.7

4353.3

4685.6

5169.7

5451.7

25

26
27
28
29
30

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

54.4
0.1
0.1
-20.0
74.1

0.4
4.3
0.1
-41.8
37.8

2.9
0.7
2.0
-50.2
50.4

25.2
1.6
0.0
-50.9
74.4

56.9
-0.2
0.2
-67.3
124.1

137.5
0.9
0.1
-33.0
169.5

134.6
-0.0
0.0
-17.8
152.5

26
27
28
29
30

31
32
33
34

Checkable deposits
Federal government
Rest of the world
Private domestic

695.8
19.0
18.1
658.6

661.4
28.7
21.6
611.1

640.3
27.8
26.0
586.5

605.8
13.2
24.8
567.9

608.7
49.6
37.6
521.5

523.7
16.4
28.3
479.0

606.5
45.7
31.2
529.5

31
32
33
34

35
36
37

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

1471.3
256.5
379.6

1594.2
306.1
408.2

1738.0
369.3
471.7

1924.4
404.1
538.4

1997.4
465.7
667.0

2208.0
553.6
682.4

2448.3
528.4
665.6

35
36
37

38
39
40
41

Acceptance liabilities
Corporate bonds
Other loans and advances
Taxes payable

12.3
43.3
36.7
2.8

14.0
50.9
39.0
4.0

13.7
61.6
58.1
5.4

9.1
72.1
104.9
7.1

6.6
75.8
145.6
9.0

6.0
86.4
172.4
11.1

3.7
94.7
196.6
13.5

38
39
40
41

42
43
44

Miscellaneous liabilities
Investment by bank holding companies
Other

505.0
344.3
160.7

520.6
372.9
147.7

598.7
413.6
185.1

662.0
469.0
193.0

653.1
471.9
181.2

788.6
525.4
263.2

759.8
586.1
173.7

42
43
44

3056.1

3175.8

3450.7

3761.4

4080.0

4419.5

4610.1

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).

FFA, 1995-2001, September 16, 2002

63

L.111 Foreign Banking Offices in U.S. (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

1

Total financial assets

2

Reserves at Federal Reserve

3

Total bank credit

4
5
6
7
8

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

9
10
11
12
13

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

14

Corporate equities

15
16
17

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

1996

1997

1998

1999

2000

2001

666.3

714.8

811.3

806.5

750.9

789.4

793.6

1

0.8

1.1

2.9

1.0

1.4

0.5

0.6

2

436.9

507.0

567.2

568.7

543.0

610.2

603.0

3

99.6
62.3
37.3
0.0
33.5

130.4
80.7
49.7
0.0
36.6

157.3
95.1
62.2
0.0
41.3

152.2
84.8
67.4
0.0
46.9

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

4
5
6
7
8

303.9
1.7
232.6
35.1
34.4

339.9
2.3
264.8
32.2
40.6

368.6
0.4
284.0
26.1
58.0

369.6
0.3
282.4
20.4
66.5

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

9
10
11
12
13

0.0

0.0

0.0

0.0

0.0

0.0

0.0

14

10.1
218.5

9.4
197.2

6.9
234.3

2.2
234.5

1.6
204.9

1.6
177.1

1.0
188.9

15
16

681.3

731.9

830.8

828.8

776.4

818.4

826.5

17

18
19
20

Net interbank liabilities
To foreign banks
To domestic banks

181.0
173.6
7.5

178.6
162.1
16.5

148.2
144.4
3.8

93.2
92.7
0.4

48.2
41.5
6.7

7.4
-15.5
22.9

-9.4
-51.0
41.6

18
19
20

21
22
23

Checkable deposits
Small time and savings deposits
Large time deposits

8.7
8.5
121.0

8.0
8.7
176.6

8.8
13.1
221.3

8.6
9.4
257.6

9.1
7.5
314.8

8.7
7.2
318.2

9.1
11.6
371.5

21
22
23

24
25

Federal funds and security RPs (net)
Acceptance liabilities

43.2
10.4

55.1
9.6

80.7
7.2

100.4
2.4

82.5
2.0

134.8
2.0

123.9
1.1

24
25

26
27
28
29

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

308.5
32.7
50.7
225.1

295.2
30.3
64.5
200.5

351.5
38.8
78.8
233.9

357.3
46.1
90.6
220.6

312.2
64.7
93.0
154.5

340.1
68.1
138.7
133.3

318.8
78.1
107.9
132.8

26
27
28
29

412.6

475.8

516.1

504.5

487.4

511.3

510.7

30

Memo:
30

Credit market funds advanced (3)

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank.
(2) Included in other loans and advances (table L.216).
(3) Total bank credit (line 3) less security credit (line 13) less corporate equities (line 14) plus customers’ liability on acceptances (line 15).

64

FFA, 1995-2001, September 16, 2002

L.112 Bank Holding Companies
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

1
2
3
4
5
6
7
8
9
10
11
12

Total financial assets
Credit market instruments
U.S. government securities
Treasury issues
Agency
Corporate and foreign bonds
Bank loans n.e.c.
Miscellaneous assets
Investment in bank subsidiaries
Investment in nonbank subsidiaries
Other
Total liabilities

13
14
15

Net interbank liabilities
To domestic banks
To foreign banks

16

Federal funds and security RPs (net)

17
18
19

Credit market instruments
Commercial paper
Corporate bonds

20

Miscellaneous liabilities

1996

1997

1998

1999

2000

2001

466.8

510.8

575.3

685.9

741.2

841.9

942.4

1

18.0

22.0

27.4

26.5

32.7

20.5

24.7

2

8.1
3.4
4.7
7.7
2.3

9.0
4.0
4.9
10.5
2.5

9.5
4.0
5.5
15.5
2.4

7.5
0.9
6.6
14.8
4.1

14.1
8.8
5.4
15.9
2.6

5.6
0.8
4.8
13.2
1.6

7.4
1.2
6.2
15.3
1.9

3
4
5
6
7

448.7
344.3
64.7
39.8

488.9
372.9
64.9
51.1

547.9
413.6
89.9
44.4

659.5
469.0
134.0
56.5

708.5
471.9
151.3
85.4

821.4
525.4
189.7
106.3

917.8
586.1
219.5
112.2

8
9
10
11

157.1

178.3

218.8

270.6

314.6

358.7

413.4

12

-14.9
3.5
-18.5

-7.9
14.7
-22.6

-7.6
14.3
-21.9

2.7
23.9
-21.3

6.7
32.1
-25.4

12.9
5.8
7.1

-2.3
-12.7
10.4

13
14
15

-0.5

-0.2

-0.2

0.4

0.5

-1.1

-1.2

16

148.0
30.1
117.9

150.0
32.0
118.0

168.6
37.6
131.0

193.5
45.4
148.1

219.3
54.5
164.8

242.5
55.7
186.8

266.1
50.6
215.5

17
18
19

24.6

36.3

57.9

74.1

88.1

104.4

150.8

20

L.113 Banks in U.S.-Affiliated Areas (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

Total financial assets

2

Checkable deposits and currency

3

Credit market instruments

4
5
6
7
8
9
10
11
12
13

U.S. government securities
Treasury
Agency
Municipal securities
Corporate and foreign bonds
Bank loans n.e.c.
Home mortgages
Commercial mortgages
Miscellaneous assets
Total liabilities

39.0

40.3

45.8

55.5

59.2

63.3

80.2

1

1.6

1.4

1.4

2.0

2.2

1.7

2.8

2

33.4

34.1

37.8

43.8

48.3

55.0

65.0

3

9.4
5.4
4.0
0.7
0.4

8.4
4.1
4.3
0.5
0.3

10.5
4.2
6.3
0.5
0.4

13.8
3.6
10.2
0.5
1.0

16.3
2.8
13.5
0.6
0.5

19.6
1.8
17.8
0.7
0.8

21.5
1.2
20.3
0.5
1.4

4
5
6
7
8

13.1
5.7
4.0

14.6
6.3
3.9

15.5
6.4
4.4

16.3
7.5
4.8

16.9
8.1
6.0

18.0
9.1
6.8

22.5
8.2
11.0

9
10
11

4.0

4.8

6.6

9.7

8.7

6.6

12.5

12

37.2

38.6

43.7

53.1

56.9

60.4

76.8

13

14
15
16

Checkable deposits
Small time and savings deposits
Large time deposits

6.4
10.2
10.2

6.9
10.4
10.4

7.3
10.4
10.4

8.5
11.4
11.4

8.5
12.2
12.2

8.4
13.6
13.6

11.5
18.1
18.1

14
15
16

17

Miscellaneous liabilities

10.3

10.9

15.6

21.9

24.1

24.8

29.0

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.

FFA, 1995-2001, September 16, 2002

65

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

1

Total financial assets

2
3
4
5

Reserves at Federal Reserve
Checkable deposits and currency
Time and savings deposits
Federal funds and security RPs

6

Credit market instruments

1995

1996

1997

1998

1999

2000

2001

1012.8

1031.7

1028.6

1088.6

1150.5

1217.7

1299.1

1

2.7
15.5
1.1
11.2

2.3
14.2
1.4
10.0

1.8
15.2
1.0
9.2

1.9
18.4
1.5
14.8

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
3
4
5

913.3

933.2

928.5

964.7

1032.4

1088.6

1131.4

6

7
8
9
10

Open market paper
U.S. government securities
Treasury
Agency

0.2
183.0
18.4
164.6

0.3
173.4
17.4
156.1

0.0
169.8
14.6
155.3

0.0
153.8
10.2
143.7

0.0
157.2
10.1
147.1

0.0
149.2
8.7
140.4

0.0
172.8
11.4
161.4

7
8
9
10

11
12
13
14
15

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

2.0
78.5
12.8
596.8
40.1

2.1
68.6
15.7
628.3
44.7

2.1
58.7
18.8
631.8
47.2

2.5
88.6
24.2
644.0
51.6

3.0
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

11
12
13
14
15

14.3
54.7

17.8
52.9

23.3
49.7

24.5
62.8

23.8
60.2

24.2
67.8

27.9
87.0

16
17

995.1

1010.5

1001.0

1058.8

1119.6

1185.8

1264.1

18

727.9
97.1
550.7
80.1

721.4
122.4
512.5
86.4

695.7
149.5
448.2
98.1

693.1
185.6
393.8
113.7

699.2
222.3
354.6
122.2

726.7
265.8
318.8
142.1

773.5
316.5
288.1
168.9

19
20
21
22

16
17
18

Corporate equities
Miscellaneous assets
Total liabilities

19
20
21
22

Deposits
Checkable
Small time and savings
Large time

23

Security RPs

44.5

43.7

41.8

51.3

72.7

66.7

72.4

23

24
25
26
27

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

115.0
3.1
14.6
97.4

140.5
2.7
15.9
121.9

160.3
2.8
19.4
138.0

212.4
2.6
29.7
180.1

260.4
2.7
14.0
243.7

287.7
6.3
21.5
260.0

295.1
3.6
23.0
268.5

24
25
26
27

28
29
30
31

Taxes payable
Miscellaneous liabilities
Investment by parent
Other

1.6
106.1
4.5
101.6

1.4
103.5
4.7
98.8

1.8
101.4
5.0
96.4

2.0
99.9
5.4
94.5

2.0
85.2
6.0
79.2

2.5
102.3
6.6
95.7

1.7
121.4
7.4
114.0

28
29
30
31

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

66

FFA, 1995-2001, September 16, 2002

L.115 Credit Unions
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

1

Total financial assets

2
3
4

Checkable deposits and currency
Time and savings deposits
Federal funds and security RPs

5

Credit market instruments

6
7
8
9

Open market paper
U.S. government securities
Treasury
Agency

1996

1997

1998

1999

2000

2001

310.7

330.1

353.8

391.5

414.5

441.1

505.5

1

7.4
17.1
6.4

7.5
16.4
1.4

8.1
17.0
3.5

9.1
23.4
6.8

26.4
16.6
9.3

12.2
17.1
4.0

19.8
25.5
2.5

2
3
4

263.0

288.5

305.3

324.2

351.7

379.7

421.2

5

0.6
64.1
18.3
45.7

0.3
68.1
17.4
50.7

0.2
66.7
15.6
51.0

0.4
71.5
13.1
58.4

1.9
70.9
9.6
61.3

1.2
69.2
8.2
60.9

2.4
88.0
7.4
80.6

6
7
8
9

10
11

Home mortgages
Consumer credit

66.5
131.9

76.0
144.1

86.0
152.4

96.9
155.4

111.0
167.9

124.9
184.4

141.3
189.6

10
11

12
13

Mutual fund shares
Miscellaneous assets

2.8
13.9

2.6
13.7

2.4
17.6

3.6
24.3

2.5
8.0

2.2
25.9

3.7
32.8

12
13

283.7

300.1

320.6

355.3

376.1

398.1

458.9

14

278.8
30.9
238.9
9.0

295.1
32.5
251.2
11.4

315.4
36.6
264.4
14.4

349.0
43.0
287.5
18.5

366.7
45.4
299.8
21.6

389.1
51.3
312.7
25.1

450.2
54.7
361.3
34.1

15
16
17
18

0.4
4.5

0.4
4.6

0.6
4.6

1.1
5.2

3.4
6.0

3.4
5.6

4.9
3.8

19
20

14

Total liabilities

15
16
17
18

Shares/deposits
Checkable
Small time and savings
Large time

19
20

Other loans and advances
Miscellaneous liabilities

L.116 Bank Personal Trusts and Estates (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

Total financial assets

2
3
4
5

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

6

Credit market instruments

7
8
9
10

Open market paper
U.S. government securities
Treasury
Agency

11
12
13

Municipal securities
Corporate and foreign bonds
Mortgages

14
15

Corporate equities
Mutual fund shares

16

Miscellaneous assets

17

Total liabilities (2)

774.9

841.2

917.7

976.3

1104.1

992.1

884.6

1

44.7
0.5
10.5
33.6

51.1
0.8
9.0
41.4

48.2
0.8
10.0
37.4

54.4
0.3
7.8
46.2

62.7
0.3
8.7
53.7

67.0
0.3
9.4
57.4

71.1
0.2
9.7
61.2

2
3
4
5

239.7

232.0

207.0

194.1

222.0

239.1

249.5

6

23.7
70.8
27.5
43.3

21.1
71.3
25.7
45.6

21.0
61.2
20.4
40.8

16.5
56.8
17.3
39.4

17.1
62.5
17.3
45.2

17.7
66.3
16.5
49.8

13.7
67.8
14.9
52.8

7
8
9
10

108.3
33.6
3.3

104.0
31.9
3.6

90.7
31.1
3.0

89.5
28.5
2.8

100.3
39.8
2.2

105.0
48.0
2.1

106.8
59.1
2.0

11
12
13

224.9
253.5

248.9
293.2

321.0
326.9

314.0
390.8

338.3
460.6

280.0
387.0

225.9
320.0

14
15

12.1

16.0

14.6

23.0

20.5

19.0

18.1

16

803.0

871.3

942.5

1001.0

1130.4

1019.4

912.0

17

(1) Includes personal trusts and estates administered by nondeposit noninsured trust companies.
(2) Equal to value of tangible and financial assets. These liabilities are assets of the household sector.

FFA, 1995-2001, September 16, 2002

67

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

1

1995

1996

1997

1998

1999

2000

2001

2063.6

2246.3

2514.8

2769.5

3067.9

3135.7

3224.6

1

5.2
22.8

4.3
61.9

8.1
92.8

5.4
110.4

5.5
133.8

5.0
142.3

36.8
185.3

2
3

1587.5

1657.0

1751.1

1828.0

1886.0

1943.9

2074.8

4

Open market paper
U.S. government securities
Treasury
Agency

45.5
351.0
108.1
242.9

48.4
337.4
93.2
244.1

65.9
312.1
85.5
226.7

73.4
288.4
71.3
217.0

75.8
287.1
62.8
224.4

71.2
293.5
58.1
235.4

59.3
307.2
53.7
253.5

5
6
7
8

Municipal securities
Corporate and foreign bonds
Policy loans
Mortgages

11.9
870.1
95.9
213.1

13.4
949.3
100.5
208.2

16.7
1046.0
103.7
206.8

18.4
1130.4
103.8
213.6

20.1
1173.2
99.0
230.8

19.1
1222.2
101.9
235.9

18.7
1342.4
104.1
243.0

9
10
11
12

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
13
14

Corporate equities
Mutual fund shares

315.4
27.7

414.1
35.3

558.6
38.4

733.2
23.3

964.5
43.3

940.8
48.1

855.2
44.3

13
14

15

Miscellaneous assets

105.1

73.7

65.7

69.2

34.9

55.6

28.1

15

16

1953.9

2115.6

2359.7

2599.7

2882.8

2942.8

3034.8

16

17
18
19

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

0.5
536.3
880.6

1.6
580.1
953.9

1.8
632.7
1086.1

2.5
684.7
1248.1

3.2
748.9
1431.0

2.5
782.7
1456.1

3.1
842.2
1465.3

17
18
19

20
21

Taxes payable
Miscellaneous liabilities

12.0
524.6

12.5
567.5

13.7
625.4

14.9
649.5

16.2
683.5

17.8
683.8

19.7
704.4

20
21

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 21).

L.118 Other Insurance Companies
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

Total financial assets

2
3

Checkable deposits and currency
Security RPs

4

Credit market instruments

5
6
7
8
9
10
11
12
13
14
15
16

740.3

770.0

843.5

876.4

875.1

866.1

863.0

1

4.9
37.5

3.9
35.4

4.2
35.2

4.0
42.7

4.3
28.3

3.7
38.3

13.1
30.2

2
3

468.7

491.2

515.3

521.1

518.2

509.4

518.4

4

U.S. government securities
Treasury
Agency

181.6
133.4
48.2

171.8
120.9
51.0

161.9
91.1
70.8

140.0
70.4
69.7

136.2
60.6
75.5

136.2
52.1
84.1

146.3
52.0
94.2

5
6
7

Municipal securities
Corporate and foreign bonds
Commercial mortgages

161.0
123.3
2.8

175.4
141.6
2.4

191.6
159.5
2.2

208.1
171.1
2.0

199.0
181.1
1.9

184.1
187.5
1.6

173.8
196.4
1.9

8
9
10

134.2
57.3
37.8

148.6
57.2
33.6

186.0
59.9
42.8

200.1
61.5
47.0

207.9
63.6
53.0

194.3
64.6
55.8

173.9
69.9
57.5

11
12
13

510.7

521.4

535.7

543.1

552.0

563.0

591.7

14

9.0
501.6

11.6
509.9

13.4
522.3

15.4
527.7

17.4
534.6

19.7
543.3

22.4
569.3

15
16

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

68

FFA, 1995-2001, September 16, 2002

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

1

Total financial assets

1995

1996

1997

1998

1999

2000

2001

2923.4

3251.1

3746.5

4177.8

4630.4

4515.4

4171.7

1

2
3
4
5

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

4.8
106.6
37.5
22.1

5.4
111.9
48.4
26.7

6.6
119.4
61.4
27.6

5.7
147.7
63.4
28.8

6.6
144.7
75.1
28.6

7.1
147.6
79.6
29.6

6.1
151.8
69.0
30.4

2
3
4
5

6

Credit market instruments

631.2

627.0

674.6

651.2

668.2

701.6

721.9

6

7
8
9
10

Open market paper
U.S. government securities
Treasury
Agency

24.4
356.3
142.2
214.2

30.1
343.1
139.4
203.7

31.3
354.9
143.5
211.4

34.3
307.3
112.5
194.8

37.5
318.5
109.8
208.8

35.8
333.7
108.4
225.2

37.5
341.1
104.2
236.9

7
8
9
10

11
12

Corporate and foreign bonds
Mortgages

242.0
8.4

244.9
9.0

278.7
9.7

300.3
9.3

301.9
10.3

320.7
11.5

330.5
12.8

11
12

1289.2
326.8

1463.9
412.3

1696.4
569.6

1990.7
668.2

2325.7
753.8

2195.1
733.6

1925.8
651.5

13
14

13
14

Corporate equities
Mutual fund shares

15
16
17
18

Miscellaneous assets
Unallocated insurance contracts (2)
Contributions receivable
Other

505.2
332.2
82.4
90.6

555.5
361.1
86.4
108.0

590.9
381.9
93.5
115.4

622.2
384.6
114.9
122.7

627.7
393.5
110.1
124.1

621.3
378.4
111.3
131.6

615.3
369.0
112.6
133.7

15
16
17
18

19

Pension fund reserves (liabilities) (3)

2964.0

3295.2

3793.6

4231.9

4687.9

4576.4

4236.5

19

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

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

Total financial assets

1303.3

1494.6

1817.1

2054.1

2226.8

2289.6

2179.6

1

4.2
4.5
31.5

7.5
2.3
28.2

5.3
2.4
28.6

10.0
2.0
37.5

9.2
1.7
40.4

9.1
1.1
44.7

9.5
0.6
45.3

2
3
4

529.6

565.4

632.5

704.6

751.4

806.0

788.4

5

Open market paper
U.S. government securities
Treasury
Agency

31.5
291.1
191.7
99.4

28.2
308.4
203.5
104.9

28.6
340.2
216.9
123.3

37.5
360.1
217.7
142.4

40.4
376.4
211.2
165.3

44.7
398.5
195.7
202.8

45.3
365.7
177.4
188.3

6
7
8
9

Municipal securities
Corporate and foreign bonds
Mortgages

1.8
189.2
15.9

0.6
211.4
16.7

1.5
244.5
17.6

3.3
279.6
24.1

3.0
310.0
21.5

1.6
339.7
21.5

1.4
351.1
24.9

10
11
12

678.9
54.6

828.5
62.8

1084.8
63.5

1233.9
66.1

1343.2
81.0

1335.1
93.5

1221.9
113.8

13
14

1320.4

1514.6

1842.0

2085.4

2262.3

2331.5

2226.4

15

2
3
4

Checkable deposits and currency
Time and savings deposits
Security RPs

5

Credit market instruments

6
7
8
9
10
11
12
13
14
15

Corporate equities
Miscellaneous assets
Pension fund reserves (liabilities) (1)

(1) Equal to the value of tangible and financial assets. These liabilities are assets of the household sector.

FFA, 1995-2001, September 16, 2002

69

L.121 Money Market Mutual Funds (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

1

Total financial assets

2
3
4
5

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

6

Credit market instruments

1996

1997

1998

1999

2000

2001

741.3

886.7

1042.5

1329.7

1578.8

1812.1

2240.7

1

19.7
-3.5
52.3
87.8

23.1
-1.1
82.7
103.8

23.2
1.5
111.3
126.6

30.6
-1.0
127.0
139.5

42.9
-2.2
160.4
139.6

91.1
2.2
142.4
183.0

124.2
4.6
219.5
227.0

2
3
4
5

545.5

634.3

721.9

965.9

1147.8

1290.9

1536.9

6

7
8
9
10

Open market paper
U.S. government securities
Treasury
Agency

235.5
160.8
70.0
90.8

273.9
192.0
90.2
101.8

336.0
182.5
86.2
96.3

414.2
277.5
103.6
173.8

519.0
294.7
103.8
190.9

608.6
275.6
90.4
185.2

638.9
454.1
135.7
318.4

7
8
9
10

11
12

Municipal securities
Corporate and foreign bonds

127.7
21.5

144.5
23.9

167.0
36.4

193.0
81.2

210.4
123.7

244.7
161.9

281.0
163.0

11
12

39.4

43.8

58.1

67.7

90.4

102.5

128.6

13

741.3

886.7

1042.5

1329.7

1578.8

1812.1

2240.7

14

13
14

Miscellaneous assets
Total shares outstanding (liabilities)

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

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

Total financial assets

2

Security RPs

3

Credit market instruments

1852.8

2342.4

2989.4

3613.1

4538.5

4434.6

4135.5

1

50.2

47.5

57.8

70.9

80.8

106.4

74.8

2

771.3

820.2

901.1

1028.4

1076.8

1097.8

1223.8

3

4
5
6
7

Open market paper
U.S. government securities
Treasury
Agency

50.2
315.1
143.8
171.3

47.2
330.2
125.8
204.4

57.8
349.7
136.4
213.3

70.9
375.9
141.0
234.9

80.8
388.4
117.3
271.1

106.4
399.0
123.7
275.3

74.8
475.6
115.1
360.5

4
5
6
7

8
9

Municipal securities
Corporate and foreign bonds

210.2
195.7

213.3
229.5

219.8
273.8

242.6
339.0

239.4
368.2

230.5
361.9

253.4
420.0

8
9

1024.9
6.3

1470.0
4.7

2018.7
11.8

2506.2
7.7

3376.7
4.2

3226.9
3.5

2836.1
0.8

10
11

1852.8

2342.4

2989.4

3613.1

4538.5

4434.6

4135.5

12

10
11
12

Corporate equities
Miscellaneous assets
Total shares outstanding (liabilities)

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

L.123 Closed-End and Exchange-Traded Funds
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
Closed-end funds
1

Total financial assets

134.3

144.4

149.0

151.0

151.0

142.0

133.8

1

2
3
4
5

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

96.2
11.3
59.4
25.5

100.8
11.4
60.8
28.6

98.3
10.2
60.0
28.2

103.8
9.3
61.8
32.7

111.2
8.0
70.5
32.6

106.4
7.7
68.4
30.3

104.7
6.0
73.1
25.7

2
3
4
5

6

Corporate equities

38.2

43.6

50.7

47.3

39.9

35.5

29.0

6

1.1

2.4

6.7

15.6

33.9

65.6

83.0

7

135.4
134.3
1.1

146.8
144.4
2.4

155.7
149.0
6.7

166.6
151.0
15.6

184.9
151.0
33.9

207.6
142.0
65.6

216.7
133.8
83.0

8
9
10

Exchange-traded funds
7

Total financial assets (1)
Memo:

8
9
10

Market value of equities
Closed-end funds
Exchange-traded funds

(1) Corporate equities.

70

FFA, 1995-2001, September 16, 2002

L.124 Government-Sponsored Enterprises (GSEs) (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

1

1997

1998

1999

2000

2001

896.9

988.6

1099.4

1403.8

1720.6

1969.4

2300.8

1

2
3

Checkable deposits and currency
Federal funds and security RPs

1.5
106.3

0.7
94.5

1.9
90.4

4.4
77.0

11.8
89.7

2.1
74.9

3.9
85.9

2
3

4

Credit market instruments

761.1

832.0

938.3

1252.3

1543.5

1807.1

2114.3

4

25.5
248.3
58.0
190.3

35.1
276.3
18.8
257.6

34.0
352.4
25.9
326.5

60.9
514.7
25.2
489.6

33.8
699.2
30.9
668.3

44.7
854.4
41.2
813.3

80.3
1030.5
31.8
998.7

5
6
7
8

5.6
31.0

5.6
41.8

5.2
47.1

9.2
67.8

10.6
91.5

8.8
117.2

14.8
132.7

9
10

5
6
7
8

Total financial assets

1996

Open market paper
U.S. government securities
Treasury
Agency

9
10

Municipal securities
Corporate and foreign bonds

11
12
13
14

Other loans and advances
Sallie Mae
Farm Credit System
FHLB

200.3
37.9
30.2
132.3

229.1
36.2
31.6
161.4

260.3
30.9
31.6
197.8

352.6
29.5
34.9
288.2

466.2
34.6
35.8
395.7

514.6
37.8
38.9
437.9

554.7
40.2
41.8
472.7

11
12
13
14

15
16
17
18

Mortgages
Home
Multifamily residential
Farm

250.4
205.2
18.5
26.8

244.1
198.5
17.7
27.9

239.4
194.3
16.2
28.9

247.1
199.6
16.4
31.0

242.3
189.3
20.8
32.2

267.3
205.1
28.1
34.2

301.2
225.3
37.5
38.5

15
16
17
18

28.0

61.5

68.8

70.1

75.5

85.2

96.8

19

873.4

964.1

1070.3

1368.9

1681.1

1922.5

2247.1

20

806.5
806.5
0.0

896.9
896.9
0.0

995.3
995.3
0.0

1273.6
1273.6
0.0

1591.7
1591.7
0.0

1825.8
1825.8
0.0

2114.0
2114.0
0.0

21
22
23

66.9

67.2

75.1

95.3

89.3

96.7

133.1

24

19
20

Miscellaneous assets
Total liabilities

21
22
23

Credit market instruments
GSE issues (2)
U.S. government loans

24

Miscellaneous liabilities

(1) Federal Home Loan Banks, Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Farm Credit System, the Financing Corporation, the Resolution
Funding Corporation, and the Student Loan Marketing Association (Sallie Mae), which is a subsidiary of USA Education, Inc., a private company chartered in 1997.
(2) Such issues are classified as U.S. government securities.

L.125 Federally Related Mortgage Pools (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

1570.3

1711.3

1825.8

2018.4

2292.2

2491.6

2830.1

1

2
3
4
5

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

1543.4
26.9
0.0
0.0

1678.8
32.5
0.0
0.0

1788.1
37.8
0.0
0.0

1970.2
48.3
0.0
0.0

2234.7
57.5
0.0
0.0

2425.6
66.0
0.0
0.0

2748.5
81.6
0.0
0.0

2
3
4
5

6

Total pool securities (liabilities)(2)

1570.3

1711.3

1825.8

2018.4

2292.2

2491.6

2830.1

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.

FFA, 1995-2001, September 16, 2002

71

L.126 Issuers of Asset-Backed Securities (ABSs)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

1996

1997

1998

1999

2000

2001

1

Total financial assets

709.1

854.6

1065.8

1385.4

1611.6

1822.9

2132.1

1

2

Agency securities (1)

132.9

137.8

142.3

180.2

220.4

224.7

267.0

2

3
4
5

Other loans and advances
Student loans
Loans to business

30.6
1.0
29.6

44.0
6.3
37.7

76.2
14.1
62.1

103.8
17.9
85.9

113.0
19.4
93.6

138.3
29.9
108.4

151.5
30.7
120.8

3
4
5

6
7
8
9

Mortgages (2)
Home
Multifamily residential
Commercial

278.2
224.3
11.9
41.9

326.3
256.2
15.9
54.2

406.2
310.7
20.9
74.6

563.0
405.2
33.8
124.0

656.1
455.0
42.3
158.8

739.8
499.8
48.8
191.2

885.6
591.2
57.0
237.4

6
7
8
9

Consumer credit
Trade receivables

211.6
55.7

265.8
80.7

313.1
128.1

372.4
165.9

435.1
187.0

500.1
220.0

582.2
245.9

10
11

712.5

863.3

1076.6

1398.0

1621.4

1829.5

2138.9

12

101.2
611.3

146.7
716.6

256.1
820.5

381.8
1016.2

520.8
1100.6

641.8
1187.7

745.3
1393.6

13
14

3.5
7.6

8.7
7.4

10.8
11.1

12.7
13.9

9.7
12.9

6.6
10.7

6.8
10.0

15
16

10
11
12
13
14

15
16

Total liabilities
Commercial paper
Corporate bonds
Memo:
Securitized assets not included above
Consumer leases (3)
REIT assets (4)

(1) Federally related mortgage pool securities backing privately issued CMOs.
(2) Mortgages backing privately issued pool securities and privately issued CMOs.
(3) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).
The leased automobile is a tangible asset.
(4) Included in table L.129.

L.127 Finance Companies (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

Total financial assets

672.3

716.7

763.9

852.7

1003.0

1137.9

1155.7

1

16.6

18.5

20.6

22.8

25.3

27.9

30.8

2

2

Checkable deposits and currency

3
4
5
6

Credit market instruments
Other loans and advances
Mortgages
Consumer credit

526.2
301.6
72.4
152.1

545.1
304.7
85.5
154.9

568.2
304.1
96.5
167.5

645.5
340.9
121.2
183.3

742.5
395.1
145.8
201.5

850.5
458.4
172.3
219.8

844.8
447.0
161.3
236.6

3
4
5
6

7

Miscellaneous assets

129.6

153.1

175.1

184.4

235.3

259.6

280.1

7

691.2

742.1

780.8

856.6

994.6

1159.5

1179.6

8

483.9
168.6
300.0
15.3

534.5
178.0
336.8
19.7

568.3
202.6
341.5
24.2

625.5
233.3
365.6
26.5

695.7
230.4
429.9
35.4

776.9
238.8
502.2
35.9

776.7
158.6
567.4
50.8

9
10
11
12

4.9

5.7

6.5

7.3

8.1

9.1

10.2

13

202.4
24.8
51.1
126.5

202.0
29.7
54.6
117.8

206.0
35.7
47.1
123.2

223.8
37.2
34.3
152.3

290.7
49.8
87.8
153.1

373.5
65.3
102.5
205.6

392.6
71.5
99.2
221.9

14
15
16
17

80.8

93.2

98.8

96.6

102.9

108.2

103.5

18

8

Total liabilities

9
10
11
12

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

13

Taxes payable

14
15
16
17

Miscellaneous liabilities
Foreign direct investment in U.S.
Investment by parent
Other

18

Memo:
Consumer leases not included above (2)

(1) Includes retail captive finance companies.
(2) See footnote (3), table L.126.

72

FFA, 1995-2001, September 16, 2002

L.128 Mortgage Companies
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

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

1996

1997

1998

1999

2000

2001

33.0

41.2

32.1

35.3

35.6

35.9

37.2

1

23.8
4.2
5.1

32.0
4.1
5.1

21.8
5.2
5.1

24.9
5.3
5.1

25.2
5.3
5.1

25.4
5.4
5.1

26.7
5.4
5.1

2
3
4

33.0

41.2

32.1

35.3

35.6

35.9

37.2

5

16.5
16.5

20.6
20.6

16.0
16.0

17.7
17.7

17.8
17.8

17.9
17.9

18.6
18.6

6
7

64.3

70.7

68.4

62.1

70.2

1

L.129 Real Estate Investment Trusts (REITs)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

Total financial assets

2

Checkable deposits and currency

3

Credit market instruments

4
5

Agency securities
Corporate and foreign bonds

6
7
8
9

Mortgages
Home
Multifamily residential
Commercial

10

Miscellaneous assets

33.3

38.2

0.0

2.2

3.3

4.1

4.4

4.3

5.2

2

26.0

30.4

50.6

45.5

42.9

36.6

43.3

3

9.0
2.9

12.2
4.3

21.2
6.5

13.1
6.1

14.2
5.7

14.5
5.3

20.3
7.4

4
5

14.1
6.9
1.6
5.6

13.8
8.0
1.2
4.6

22.9
14.0
2.1
6.9

26.3
14.8
2.1
9.4

23.0
12.4
1.6
9.0

16.8
7.9
1.3
7.6

15.7
7.9
1.1
6.6

6
7
8
9

7.3

5.6

10.5

21.2

21.1

21.1

21.6

10

205.6

216.8

217.5

227.8

11

11

Total liabilities

62.2

79.4

139.0

12

Security RPs

10.9

13.7

24.9

15.1

15.7

11.9

19.7

12

13
14
15
16
17

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

44.6
0.0
15.5
5.0
24.1

56.5
0.0
16.8
7.8
31.9

96.1
0.0
31.6
17.6
46.8

158.8
0.2
53.4
33.6
71.6

165.1
0.1
62.2
26.0
76.7

167.8
0.2
67.0
17.7
82.9

170.2
0.8
70.8
14.4
84.2

13
14
15
16
17

6.7

9.2

18.0

31.6

36.0

37.8

37.9

18

7.6
4.2
3.5
0.0
0.0

7.4
4.5
2.6
0.3
0.0

11.1
4.9
5.7
0.4
0.0

13.9
5.0
7.5
0.8
0.6

12.9
3.7
7.6
0.9
0.7

10.7
3.5
6.7
0.4
0.1

10.0
2.6
6.5
0.5
0.4

19
20
21
22
23

18

19
20
21
22
23

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

FFA, 1995-2001, September 16, 2002

73

L.130 Security Brokers and Dealers
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

1

Total financial assets

2

Checkable deposits and currency

3

Credit market instruments

4
5
6
7
8
9
10
11
12
13

Open market paper
U.S. government securities
Treasury
Agency
Municipal securities
Corporate and foreign bonds
Corporate equities
Security credit
Miscellaneous assets
Total liabilities

1996

1997

1998

1999

2000

2001

568.1

636.4

779.2

921.2

1001.0

1221.4

1465.7

1

13.7

15.7

21.7

25.4

28.7

30.3

47.1

2

183.4

167.7

182.6

189.4

154.7

223.6

316.1

3

22.1
72.3
18.3
54.0
12.7
76.4

23.7
42.4
-12.8
55.2
10.8
90.9

24.3
45.1
-5.3
50.4
13.2
100.0

28.0
66.7
15.8
50.9
13.1
81.4

26.0
23.3
-42.6
66.0
11.9
93.4

39.2
60.4
-3.3
63.7
11.3
112.7

48.2
87.6
9.8
77.8
19.0
161.3

4
5
6
7
8
9

34.2
78.6
258.2

37.9
94.4
320.7

51.9
131.2
391.8

54.4
152.8
499.3

66.9
227.9
522.8

77.2
235.1
655.1

85.1
196.4
821.0

10
11
12

535.5

597.5

729.2

866.8

932.8

1150.4

1383.1

13

14
15

Security RPs (net)
Corporate bonds

182.4
29.3

180.9
27.3

203.5
35.3

208.2
42.5

245.2
25.3

302.2
40.9

353.2
42.3

14
15

16
17
18
19
20

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

10.3
227.1
127.6
99.5
1.1

14.3
263.7
162.9
100.8
1.3

19.9
337.9
215.5
122.5
1.3

18.9
419.5
276.7
142.8
1.3

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

16
17
18
19
20

21
22
23
24

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

85.4
11.1
132.9
-58.6

110.1
8.8
178.6
-77.3

131.1
8.5
254.5
-131.9

176.4
10.7
351.9
-186.2

180.5
10.9
413.7
-244.1

181.7
19.1
452.3
-289.7

317.0
14.5
498.5
-196.0

21
22
23
24

L.131 Funding Corporations (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

Total financial assets

394.1

499.2

612.7

716.8

963.9

1085.7

1080.5

1

2

Money market fund shares

120.2

147.5

157.9

215.8

264.7

298.2

415.7

2

3
4
5

Credit market instruments
Open market paper
Corporate and foreign bonds

108.4
84.6
23.8

121.0
84.5
36.5

166.7
133.6
33.1

152.3
114.7
37.6

276.0
242.3
33.8

310.4
276.5
33.9

202.3
127.5
74.8

3
4
5

6
7
8

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

165.5
50.7
114.8

230.7
64.5
166.3

288.0
78.8
209.2

348.7
90.6
258.2

423.1
93.0
330.1

477.1
138.7
338.4

462.5
107.9
354.7

6
7
8

394.1

499.2

612.7

716.8

963.9

1085.7

1080.5

9

10
11
12

9

Total liabilities
Credit market instruments
Open market paper
Corporate bonds

248.6
164.2
84.4

312.4
198.8
113.6

372.6
228.5
144.2

412.6
234.4
178.2

504.0
268.5
235.5

503.7
266.2
237.5

448.4
188.8
259.7

10
11
12

13
14
15
16

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

145.5
-83.1
216.2
12.4

186.9
-81.6
276.1
-7.6

240.1
-84.6
333.3
-8.6

304.3
-63.9
403.3
-35.1

459.8
-80.9
419.5
121.2

582.0
-26.6
508.2
100.4

632.1
14.1
578.3
39.7

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.

74

FFA, 1995-2001, September 16, 2002

L.200 Gold and Official Foreign Exchange Holdings (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

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

1996

1997

1998

1999

2000

2001

85.8

75.1

70.0

81.8

71.5

67.6

68.7

1

22.1

21.4

21.1

21.6

21.4

21.6

21.8

2

11.0
11.1

10.3
11.0

10.0
11.0

10.6
11.0

10.3
11.0

10.5
11.0

10.8
11.0

3
4

63.7

53.7

48.9

60.1

50.1

46.1

46.8

5

Official foreign currency holdings
Treasury
Monetary authority

49.1
28.0
21.1

38.3
19.0
19.3

30.8
13.8
17.0

36.0
16.2
19.8

32.2
16.0
16.1

31.2
15.6
15.7

29.0
14.4
14.6

6
7
8

Net IMF position
Federal government
Monetary authority

14.6
14.7
-0.1

15.4
15.5
-0.1

18.1
18.2
-0.1

24.1
24.2
-0.1

18.0
18.0
-0.1

14.8
14.9
-0.1

17.9
17.9
-0.1

9
10
11

(1) Lines 1, 2, and 3 include increases in SDRs through allocations, which occurred at various dates beginning January 1970. Also included in the table are revaluations of
foreign currency holdings, gold, SDRs, and IMF position. These allocations and revaluations are excluded from tables on flows.
(2) Treasury gold stock.

L.201 SDR Certificates and Treasury Currency
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
SDR certificates:
1
2

Liab: Federal government
Asset: Monetary authority

10.2
10.2

9.7
9.7

9.2
9.2

9.2
9.2

6.2
6.2

2.2
2.2

2.2
2.2

1
2

Treasury currency:
3
4

Liab: Federal government
Asset: Monetary authority

18.3
24.0

18.9
25.0

19.3
25.6

19.9
26.3

20.9
28.0

23.2
31.6

23.2
33.0

3
4

5

Discrepancy (seigniorage)

-5.7

-6.1

-6.3

-6.4

-7.1

-8.5

-9.8

5

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

2
3
4
5

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

418.8

521.7

618.5

642.3

703.6

824.5

908.9

1

23.4
17.4
19.7

35.5
28.2
23.1

37.2
23.1
23.2

38.3
30.5
30.6

43.5
31.5
42.9

58.5
47.5
91.1

53.5
37.1
124.2

2
3
4

358.4

434.9

535.0

542.8

585.7

627.4

694.1

5

FFA, 1995-2001, September 16, 2002

75

L.203 Net Interbank Transactions
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

1

Total liabilities

2
3
4

Monetary authority
Depository institution reserves
Vault cash

5
6

Commercial banking
To monetary authority

7

To banks in foreign countries, net

1996

1997

1998

1999

2000

2001

290.7

240.8

219.4

189.4

202.4

221.2

187.7

1

70.2
29.6
40.6

69.7
24.5
45.2

75.8
30.8
45.0

68.4
26.3
42.1

90.6
24.0
66.6

63.4
19.0
44.4

64.8
17.5
47.3

2
3
4

220.5
0.2

171.1
4.4

143.5
2.8

121.0
1.7

111.8
-0.0

157.8
1.0

122.9
0.0

5
6

229.3

177.3

173.0

145.9

140.3

161.1

111.8

7

8
9
10
11

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

239.7
79.6
128.7
49.1

192.9
48.5
126.8
78.4

188.8
62.0
173.1
111.1

156.7
85.1
196.7
111.6

149.8
133.5
226.7
93.2

171.6
179.3
302.0
122.7

123.6
163.5
319.7
156.2

8
9
10
11

12
13
14

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

178.6
99.9
-78.7

167.1
110.4
-56.6

148.6
99.7
-48.8

92.9
133.0
40.1

41.7
147.9
106.2

-14.8
133.6
148.4

-50.3
161.5
211.8

12
13
14

15
16
17

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

-18.5
3.0
21.4

-22.6
2.7
25.3

-21.9
3.0
24.9

-21.3
2.9
24.2

-25.4
8.3
33.8

7.1
39.3
32.2

10.4
51.4
41.0

15
16
17

10.4
5.4
5.0

15.6
10.6
5.0

15.8
11.7
4.1

10.8
10.6
0.2

9.5
9.4
0.2

10.5
9.8
0.7

11.8
11.1
0.7

18
19
20

-9.0

-10.6

-32.2

-26.5

-28.5

-4.3

11.1

21

-20.0
43.3
51.5
0.8
-9.0

-41.8
38.3
48.4
0.5
-10.6

-50.2
22.0
53.8
0.3
-32.2

-50.9
30.2
55.8
0.9
-26.5

-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

22
23
24
25
26

58.9
4.4

64.9
15.2

57.6
14.6

56.3
24.8

78.9
32.8

86.0
6.4

89.5
-12.0

27
28

7.5
58.9
51.5

16.5
64.9
48.4

3.8
57.6
53.8

0.4
56.3
55.8

6.7
78.9
72.2

22.9
86.0
63.1

41.6
89.5
47.9

29
30
31

3.5
4.4
0.8

14.7
15.2
0.5

14.3
14.6
0.3

23.9
24.8
0.9

32.1
32.8
0.6

5.8
6.4
0.6

-12.7
-12.0
0.7

32
33
34

299.7

251.4

251.6

215.9

230.8

225.5

176.7

35

229.3

177.3

173.0

145.9

140.3

161.1

111.8

36

70.4

74.1

78.6

70.0

90.6

64.4

64.8

37

0.2
0.1
0.1

4.4
4.3
0.1

2.8
0.7
2.0

1.7
1.6
0.0

-0.0
-0.2
0.2

1.0
0.9
0.1

0.0
-0.0
0.0

38
39
40

67.5
26.9
40.6

67.5
22.3
45.2

74.1
29.1
45.0

66.5
24.4
42.1

85.9
19.3
66.6

61.8
17.4
44.4

62.5
15.2
47.3

41
42
43

18
19
20
21
22
23
24
25
26

27
28

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

29
30
31

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

32
33
34

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

35

Total assets

36

Rest of the world

37

Domestic

38
39
40

Monetary authority
Federal Reserve float
Loans to member banks

41
42
43

Commercial banking
Reserves at Federal Reserve
Vault cash

44
45

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

2.7

2.3

1.8

1.9

4.7

1.7

2.3

44

-9.0

-10.6

-32.2

-26.5

-28.5

-4.3

11.1

45

76

FFA, 1995-2001, September 16, 2002

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

1

1996

1997

1998

1999

2000

2001

1229.1

1244.8

1286.1

1333.3

1484.5

1413.1

1601.4

1

2
3
4
5

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

390.3
6.2
0.4
383.7

413.6
8.0
0.2
405.5

443.5
5.7
0.5
437.4

481.8
6.2
0.2
475.4

590.4
28.5
0.1
561.8

555.2
5.6
0.3
549.3

603.1
7.1
0.1
596.0

2
3
4
5

6
7
8
9

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

710.8
19.0
24.1
667.7

676.3
28.7
26.9
620.7

656.4
27.8
31.7
597.0

622.9
13.2
30.2
579.6

626.4
49.6
43.6
533.2

540.9
16.4
33.9
490.6

627.1
45.7
34.5
546.9

6
7
8
9

97.1
30.9

122.4
32.5

149.5
36.6

185.6
43.0

222.3
45.4

265.8
51.3

316.5
54.7

10
11

10
11
12

Total liabilities

1995

Savings institutions
Credit unions

1229.1

1244.8

1286.1

1333.3

1484.5

1413.1

1601.4

12

13

Total assets
Household sector

543.8

470.6

436.8

409.5

348.3

324.9

349.1

13

14
15
16
17

Nonfinancial business
Corporate
Nonfarm noncorporate
Farm

326.5
205.1
104.7
16.7

385.0
244.3
124.0
16.7

415.1
251.9
146.2
16.9

484.1
287.1
178.3
18.6

565.5
326.0
220.3
19.2

594.2
334.6
240.3
19.4

617.8
342.2
255.9
19.8

14
15
16
17

18
19

State and local governments
Federal government

33.3
22.2

27.8
38.3

32.2
41.6

28.3
23.2

32.2
87.9

33.2
24.3

38.2
66.9

18
19

20
21
22

Rest of the world
Checkable deposits
Currency

193.8
24.5
169.2

213.7
27.1
186.6

243.6
32.2
211.4

258.4
30.4
228.0

298.3
43.7
254.6

289.9
34.2
255.7

314.1
34.6
279.5

20
21
22

23

Financial sectors

72.4

80.9

98.7

110.5

139.8

124.9

200.8

23

1.6
15.5
7.4
0.5

1.4
14.2
7.5
0.8

1.4
15.2
8.1
0.8

2.0
18.4
9.1
0.3

2.2
17.4
26.4
0.3

1.7
19.0
12.2
0.3

2.8
21.0
19.8
0.2

24
25
26
27

5.2
4.9
4.8
4.2

4.3
3.9
5.4
7.5

8.1
4.2
6.6
5.3

5.4
4.0
5.7
10.0

5.5
4.3
6.6
9.2

5.0
3.7
7.1
9.1

36.8
13.1
6.1
9.5

28
29
30
31

-3.5
1.5
16.6
0.0
13.7

-1.1
0.7
18.5
2.2
15.7

1.5
1.9
20.6
3.3
21.7

-1.0
4.4
22.8
4.1
25.4

-2.2
11.8
25.3
4.4
28.7

2.2
2.1
27.9
4.3
30.3

4.6
3.9
30.8
5.2
47.1

32
33
34
35
36

37.2

28.5

18.1

19.3

12.5

21.7

14.5

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

FFA, 1995-2001, September 16, 2002

77

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

1
2

Total liabilities
Small time and savings deposits

1995

1996

1997

1998

1999

2000

2001

2756.6

2967.9

3187.5

3431.7

3607.9

3912.9

4248.7

1

2279.7

2377.0

2474.1

2626.5

2671.5

2860.3

3127.5

2

1490.1
1471.3
8.5
10.2

1613.2
1594.2
8.7
10.4

1761.5
1738.0
13.1
10.4

1945.2
1924.4
9.4
11.4

2017.1
1997.4
7.5
12.2

2228.7
2208.0
7.2
13.6

2478.1
2448.3
11.6
18.1

3
4
5
6

3
4
5
6

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

7
8

Savings institutions
Credit unions

550.7
238.9

512.5
251.2

448.2
264.4

393.8
287.5

354.6
299.8

318.8
312.7

288.1
361.3

7
8

9

Large time deposits (1)

476.9

590.9

713.4

805.3

936.4

1052.6

1121.1

9

387.8
256.5
121.0
10.2

493.1
306.1
176.6
10.4

601.0
369.3
221.3
10.4

673.1
404.1
257.6
11.4

792.6
465.7
314.8
12.2

885.4
553.6
318.2
13.6

918.1
528.4
371.5
18.1

10
11
12
13

80.1
9.0

86.4
11.4

98.1
14.4

113.7
18.5

122.2
21.6

142.1
25.1

168.9
34.1

14
15

2756.6

2967.9

3187.5

3431.7

3607.9

3912.9

4248.7

16

2280.7

2434.0

2565.9

2732.4

2788.0

3050.0

3250.6

17

171.1
99.7
71.5

174.7
99.7
75.0

205.1
119.4
85.7

207.4
112.6
94.8

277.4
159.4
118.0

318.7
176.7
142.0

366.2
203.8
162.3

18
19
20

62.0
0.9
49.6

72.6
2.4
60.6

78.4
3.4
73.6

91.1
4.7
86.6

102.1
5.4
101.6

111.5
6.3
107.4

119.2
10.5
92.9

21
22
23

192.2

223.7

261.1

309.5

333.5

319.0

409.3

24

1.1
17.1
10.5

1.4
16.4
9.0

1.0
17.0
10.0

1.5
23.4
7.8

1.3
16.6
8.7

1.4
17.1
9.4

2.2
25.5
9.7

25
26
27

106.6
4.5
52.3

111.9
2.3
82.7

119.4
2.4
111.3

147.7
2.0
127.0

144.7
1.7
160.4

147.6
1.1
142.4

151.8
0.6
219.5

28
29
30

10
11
12
13

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

14
15

Savings institutions
Credit unions

16

Total assets

17

Household sector

18
19
20

Nonfinancial business
Corporate
Nonfarm noncorporate

21
22
23

State and local governments
Federal government
Rest of the world

24

Financial sectors

25
26
27

Savings institutions
Credit unions
Bank personal trusts and estates

28
29
30

Private pension funds
State and local govt. retirement funds
Money market mutual funds

(1) Large time deposits are those issued in amounts of $100,000 or more.

L.206 Money Market Mutual Fund Shares
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

741.3

886.7

1042.5

1329.7

1578.8

1812.1

2240.7

1

2
3
4

Total assets
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business

450.1
60.0
17.0

500.7
67.6
19.2

582.3
87.8
22.9

747.1
114.3
32.6

873.2
137.3
41.0

1006.4
177.7
50.5

1174.3
275.0
60.2

2
3
4

5
6
7
8

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

33.6
22.8
37.5
120.2

41.4
61.9
48.4
147.5

37.4
92.8
61.4
157.9

46.2
110.4
63.4
215.8

53.7
133.8
75.1
264.7

57.4
142.3
79.6
298.2

61.2
185.3
69.0
415.7

5
6
7
8

78

FFA, 1995-2001, September 16, 2002

L.207 Federal Funds and Security Repurchase Agreements
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

1

1997

1998

1999

2000

2001

660.0

701.5

822.4

913.8

1083.6

1196.8

1233.6

1

2
3
4
5

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

422.2
379.6
43.2
-0.5

463.2
408.2
55.1
-0.2

552.2
471.7
80.7
-0.2

639.2
538.4
100.4
0.4

750.0
667.0
82.5
0.5

816.1
682.4
134.8
-1.1

788.3
665.6
123.9
-1.2

2
3
4
5

6
7
8

Savings institutions
REITs
Brokers and dealers (net)

44.5
10.9
182.4

43.7
13.7
180.9

41.8
24.9
203.5

51.3
15.1
208.2

72.7
15.7
245.2

66.7
11.9
302.2

72.4
19.7
353.2

6
7
8

552.7

591.7

649.5

683.1

817.2

811.9

887.3

9

9

Total liabilities

1996

Total assets

10
11
12

Nonfinancial corporate business
State and local governments
Rest of the world

2.4
115.7
67.6

3.9
147.8
70.9

4.6
151.4
90.8

4.2
158.5
72.0

5.8
163.5
79.9

8.2
173.3
91.3

8.0
154.9
150.7

10
11
12

13
14
15
16

Financial sectors
Monetary authority
Savings institutions
Credit unions

366.9
13.9
11.2
6.4

369.2
21.6
10.0
1.4

402.7
23.8
9.2
3.5

448.4
30.4
14.8
6.8

568.0
140.6
10.6
9.3

539.1
43.4
14.9
4.0

573.7
50.3
27.4
2.5

13
14
15
16

17
18
19
20
21
22

Other insurance companies
Private pension funds
State and local govt. retirement funds
Money market mutual funds
Mutual funds
Government-sponsored enterprises

37.5
22.1
31.5
87.8
50.2
106.3

35.4
26.7
28.2
103.8
47.5
94.5

35.2
27.6
28.6
126.6
57.8
90.4

42.7
28.8
37.5
139.5
70.9
77.0

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

17
18
19
20
21
22

107.4

109.8

172.9

230.6

266.4

385.0

346.3

23

23

Discrepancy--unallocated assets

L.208 Open Market Paper
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

700.4

803.0

979.4

1172.6

1402.4

1610.0

1445.6

1

677.7

779.4

958.5

1161.0

1393.8

1602.1

1440.9

2

Nonfinancial corporate business
Foreign issues in U.S.
Nonfinancial
Financial

157.4
56.2
20.6
35.6

156.4
67.5
18.7
48.8

168.6
65.1
20.0
45.0

193.0
72.9
18.5
54.4

230.3
89.2
26.7
62.5

278.4
120.9
37.6
83.3

190.1
106.7
14.3
92.4

3
4
5
6

7
8
9
10
11
12

Financial business
Commercial banking
ABS issuers
Finance companies
REITs
Funding corporations

464.2
30.1
101.2
168.6
0.0
164.2

555.5
32.0
146.7
178.0
0.0
198.8

724.8
37.6
256.1
202.6
0.0
228.5

895.2
45.4
381.8
233.3
0.2
234.4

1074.3
54.5
520.8
230.4
0.1
268.5

1202.7
55.7
641.8
238.8
0.2
266.2

1144.1
50.6
745.3
158.6
0.8
188.8

7
8
9
10
11
12

13

Bankers acceptances (1)

22.6

23.6

20.9

11.5

8.6

7.9

4.8

13

700.4

803.0

979.4

1172.6

1402.4

1610.0

1445.6

14

2
3
4
5
6

14

Total outstanding, all types
Commercial paper

Holdings, by sector

15
16
17
18

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

48.0
20.1
39.4
43.4

54.7
31.5
59.7
57.9

56.1
36.1
74.0
77.8

63.7
39.4
102.0
115.3

67.7
47.6
108.9
102.3

72.7
61.4
116.5
111.9

53.3
56.4
90.0
118.1

15
16
17
18

19
20
21
22
23

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

0.0
5.7
0.2
0.6
23.7

0.0
6.5
0.3
0.3
21.1

0.0
2.7
0.0
0.2
21.0

0.0
1.1
0.0
0.4
16.5

0.0
1.4
0.0
1.9
17.1

0.0
1.5
0.0
1.2
17.7

0.0
0.0
0.0
2.4
13.7

19
20
21
22
23

24
25
26

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

45.5
24.4
31.5

48.4
30.1
28.2

65.9
31.3
28.6

73.4
34.3
37.5

75.8
37.5
40.4

71.2
35.8
44.7

59.3
37.5
45.3

24
25
26

27
28
29
30
31

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

235.5
50.2
25.5
22.1
84.6

273.9
47.2
35.1
23.7
84.5

336.0
57.8
34.0
24.3
133.6

414.2
70.9
60.9
28.0
114.7

519.0
80.8
33.8
26.0
242.3

608.6
106.4
44.7
39.2
276.5

638.9
74.8
80.3
48.2
127.5

27
28
29
30
31

(1) Excludes banks’ holdings of own acceptances.

FFA, 1995-2001, September 16, 2002

79

L.209 Treasury Securities
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

1996

1997

1998

1999

2000

2001

3608.5

3755.1

3778.3

3723.7

3652.7

3357.8

3352.7

1

185.0
3423.5

187.0
3568.1

186.5
3591.8

186.6
3537.0

186.4
3466.2

184.8
3173.0

190.3
3162.4

2
3

3608.5

3755.1

3778.3

3723.7

3652.7

3357.8

3352.7

4

Household sector
Savings bonds
Other Treasury issues

819.9
185.0
634.9

871.5
187.0
684.5

772.5
186.5
586.0

734.2
186.6
547.6

843.3
186.4
656.8

642.1
184.8
457.4

571.3
190.3
380.9

5
6
7

8
9
10

Nonfinancial corporate business
Nonfarm noncorporate business
State and local governments

57.1
23.6
289.8

47.1
28.6
257.0

26.8
32.2
239.3

23.6
38.0
269.3

19.4
37.1
266.8

17.8
31.9
236.2

21.3
30.4
256.5

8
9
10

11
12

Rest of the world
Monetary authority

820.2
378.2

1047.3
390.9

1165.7
430.7

1185.0
452.1

1080.4
478.0

1026.1
511.7

1039.5
551.7

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

278.7
207.6
62.3
3.4
5.4

261.8
173.0
80.7
4.0
4.1

270.1
166.8
95.1
4.0
4.2

214.1
124.8
84.8
0.9
3.6

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

13
14
15
16
17

18
19
20

Savings institutions
Credit unions
Bank personal trusts and estates

18.4
18.3
27.5

17.4
17.4
25.7

14.6
15.6
20.4

10.2
13.1
17.3

10.1
9.6
17.3

8.7
8.2
16.5

11.4
7.4
14.9

18
19
20

21
22
23
24

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

108.1
133.4
142.2
191.7

93.2
120.9
139.4
203.5

85.5
91.1
143.5
216.9

71.3
70.4
112.5
217.7

62.8
60.6
109.8
211.2

58.1
52.1
108.4
195.7

53.7
52.0
104.2
177.4

21
22
23
24

25
26
27
28
29

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

70.0
143.8
11.3
58.0
18.3

90.2
125.8
11.4
18.8
-12.8

86.2
136.4
10.2
25.9
-5.3

103.6
141.0
9.3
25.2
15.8

103.8
117.3
8.0
30.9
-42.6

90.4
123.7
7.7
41.2
-3.3

135.7
115.1
6.0
31.8
9.8

25
26
27
28
29

3636.7

3781.7

3804.8

3752.2

3681.0

3385.1

3379.5

30

1
2
3
4
5
6
7

Total liabilities
Savings bonds
Other Treasury issues
Total assets

Memo:
30

Federal government debt (1)

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

80

FFA, 1995-2001, September 16, 2002

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

1
2
3
4
5

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

1996

1997

1998

1999

2000

2001

2405.0

2634.8

2847.6

3320.5

3912.2

4344.8

4970.9

1

28.2
806.5
1570.3

26.6
896.9
1711.3

26.5
995.3
1825.8

28.5
1273.6
2018.4

28.3
1591.7
2292.2

27.3
1825.8
2491.6

26.8
2114.0
2830.1

2
3
4

2405.0

2634.8

2847.6

3320.5

3912.2

4344.8

4970.9

5

Household sector
Nonfinancial corporate business
State and local governments

107.3
23.4
151.5

192.1
28.5
116.2

213.7
8.0
115.4

231.6
10.6
179.0

351.6
12.4
190.0

383.6
15.1
203.5

272.8
22.2
233.3

6
7
8

9
10
11

Federal government
Rest of the world
Monetary authority

0.0
146.2
2.6

0.0
175.1
2.2

0.0
209.4
0.7

0.0
227.8
0.3

0.0
300.2
0.2

0.0
445.2
0.1

0.0
554.9
0.0

9
10
11

12
13
14
15
16

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

467.5
421.5
37.3
4.7
4.0

495.7
436.7
49.7
4.9
4.3

571.2
497.2
62.2
5.5
6.3

663.2
578.9
67.4
6.6
10.2

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

12
13
14
15
16

17
18
19

Savings institutions
Credit unions
Bank personal trusts and estates

164.6
45.7
43.3

156.1
50.7
45.6

155.3
51.0
40.8

143.7
58.4
39.4

147.1
61.3
45.2

140.4
60.9
49.8

161.4
80.6
52.8

17
18
19

20
21
22
23

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

242.9
48.2
214.2
99.4

244.1
51.0
203.7
104.9

226.7
70.8
211.4
123.3

217.0
69.7
194.8
142.4

224.4
75.5
208.8
165.3

235.4
84.1
225.2
202.8

253.5
94.2
236.9
188.3

20
21
22
23

24
25
26

Money market mutual funds
Mutual funds
Government-sponsored enterprises

90.8
171.3
190.3

101.8
204.4
257.6

96.3
213.3
326.5

173.8
234.9
489.6

190.9
271.1
668.3

185.2
275.3
813.3

318.4
360.5
998.7

24
25
26

27
28
29

ABS issuers
REITs
Brokers and dealers

132.9
9.0
54.0

137.8
12.2
55.2

142.3
21.2
50.4

180.2
13.1
50.9

220.4
14.2
66.0

224.7
14.5
63.7

267.0
20.3
77.8

27
28
29

6
7
8

Total assets

1995

(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.

FFA, 1995-2001, September 16, 2002

81

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

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

1995

1996

1997

1998

1999

2000

2001

1293.5

1296.0

1367.5

1464.3

1532.5

1567.8

1685.4

1

1060.4
32.9
1027.5

1053.3
39.1
1014.1

1110.6
47.5
1063.1

1189.7
41.2
1148.5

1242.4
44.8
1197.6

1270.6
47.9
1222.7

1373.6
68.5
1305.1

2
3
4

98.3
134.8

104.9
137.9

114.9
142.0

126.9
147.8

137.3
152.8

143.0
154.2

154.3
157.4

5
6

1293.5

1296.0

1367.5

1464.3

1532.5

1567.8

1685.4

7

8
9
10
11

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

455.4
36.8
2.2
5.1

433.2
31.0
2.6
4.6

468.8
27.4
3.2
3.9

486.9
25.7
2.8
2.5

524.8
25.0
2.6
1.0

549.0
22.9
3.5
1.6

596.7
16.1
3.9
1.9

8
9
10
11

12
13
14

Commercial banking
Savings institutions
Bank personal trusts and estates

93.4
2.0
108.3

94.2
2.1
104.0

96.7
2.1
90.7

104.8
2.5
89.5

110.8
3.0
100.3

114.1
3.2
105.0

120.2
4.5
106.8

12
13
14

15
16
17

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

11.9
161.0
1.8

13.4
175.4
0.6

16.7
191.6
1.5

18.4
208.1
3.3

20.1
199.0
3.0

19.1
184.1
1.6

18.7
173.8
1.4

15
16
17

18
19
20
21
22

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

127.7
210.2
59.4
5.6
12.7

144.5
213.3
60.8
5.6
10.8

167.0
219.8
60.0
5.2
13.2

193.0
242.6
61.8
9.2
13.1

210.4
239.4
70.5
10.6
11.9

244.7
230.5
68.4
8.8
11.3

281.0
253.4
73.1
14.8
19.0

18
19
20
21
22

(1) Debt with original maturity of 13 months or less.
(2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100).

L.212 Corporate and Foreign Bonds
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

Total liabilities

2848.1

3209.4

3607.2

4170.9

4633.1

5045.8

5699.2

1

2
3

Nonfinancial corporate business
Rest of the world (1)

1344.1
299.4

1460.4
366.3

1610.9
427.7

1829.6
462.6

2059.5
476.7

2230.6
500.6

2563.2
488.4

2
3

4
5
6

Financial sectors
Commercial banking
Savings institutions

1204.7
161.1
3.1

1382.7
168.9
2.7

1568.6
192.6
2.8

1878.7
220.2
2.6

2096.9
240.6
2.7

2314.7
273.2
6.3

2647.6
310.2
3.6

4
5
6

7
8
9
10
11

ABS issuers
Finance companies
REITs
Brokers and dealers
Funding corporations

611.3
300.0
15.5
29.3
84.4

716.6
336.8
16.8
27.3
113.6

820.5
341.5
31.6
35.3
144.2

1016.2
365.6
53.4
42.5
178.2

1100.6
429.9
62.2
25.3
235.5

1187.7
502.2
67.0
40.9
237.5

1393.6
567.4
70.8
42.3
259.7

7
8
9
10
11

12

2848.1

3209.4

3607.2

4170.9

4633.1

5045.8

5699.2

12

13
14
15

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

423.3
39.0
361.5

511.0
49.7
433.2

567.8
51.0
501.6

676.7
61.2
607.8

722.2
71.3
752.1

720.9
75.0
920.6

763.8
84.4
1126.3

13
14
15

16
17
18

Commercial banking
Savings institutions
Bank personal trusts and estates

110.9
78.5
33.6

112.3
68.6
31.9

143.1
58.7
31.1

180.9
88.6
28.5

220.5
111.9
39.8

278.6
109.4
48.0

376.4
83.9
59.1

16
17
18

19
20
21
22

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

870.1
123.3
242.0
189.2

949.3
141.6
244.9
211.4

1046.0
159.5
278.7
244.5

1130.4
171.1
300.3
279.6

1173.2
181.1
301.9
310.0

1222.2
187.5
320.7
339.7

1342.4
196.4
330.5
351.1

19
20
21
22

23
24
25

Money market mutual funds
Mutual funds
Closed-end funds

21.5
195.7
25.5

23.9
229.5
28.6

36.4
273.8
28.2

81.2
339.0
32.7

123.7
368.2
32.6

161.9
361.9
30.3

163.0
420.0
25.7

23
24
25

26
27
28
29

Government-sponsored enterprises
REITs
Brokers and dealers
Funding corporations

31.0
2.9
76.4
23.8

41.8
4.3
90.9
36.5

47.1
6.5
100.0
33.1

67.8
6.1
81.4
37.6

91.5
5.7
93.4
33.8

117.2
5.3
112.7
33.9

132.7
7.4
161.3
74.8

26
27
28
29

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

82

FFA, 1995-2001, September 16, 2002

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

1

1996

1997

1998

1999

2000

2001

8474.8

10281.6

13301.7

15577.3

19581.2

17611.9

15209.3

1

2

Nonfinancial corporate business

6414.1

7644.4

9774.6

11606.7

15191.1

12684.1

10746.6

2

3
4

Rest of the world (2)
Financial corporations

776.8
1284.0

1002.9
1634.3

1207.8
2319.3

1476.2
2494.5

2026.6
2363.4

1832.4
3095.3

1564.7
2898.0

3
4

5
6
7
8

Issues at market value

1995

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

8474.8

10281.6

13301.7

15577.3

19581.2

17611.9

15209.3

5

4139.0
26.2
549.5

4880.0
46.8
672.4

6269.1
79.0
952.9

7098.3
102.0
1250.3

9122.7
115.0
1611.5

7484.5
115.1
1625.5

6076.6
126.3
1533.8

6
7
8

5.0
14.3
224.9

6.8
17.8
248.9

2.6
23.3
321.0

6.8
24.5
314.0

11.3
23.8
338.3

11.9
24.2
280.0

8.9
27.9
225.9

9
10
11

9
10
11

Commercial banking
Savings institutions
Bank personal trusts and estates

12
13
14
15

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

315.4
134.2
1289.2
678.9

414.1
148.6
1463.9
828.5

558.6
186.0
1696.4
1084.8

733.2
200.1
1990.7
1233.9

964.5
207.9
2325.7
1343.2

940.8
194.3
2195.1
1335.1

855.2
173.9
1925.8
1221.9

12
13
14
15

16
17
18
19

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

1024.9
38.2
1.1
34.2

1470.0
43.6
2.4
37.9

2018.7
50.7
6.7
51.9

2506.2
47.3
15.6
54.4

3376.7
39.9
33.9
66.9

3226.9
35.5
65.6
77.2

2836.1
29.0
83.0
85.1

16
17
18
19

7485.5

9039.4

11795.9

13777.0

17194.8

15394.9

13264.7

20

Memo:
20

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

1852.8

2342.4

2989.4

3613.1

4538.5

4434.6

4135.5

1

2

Holdings at market value

1852.8

2342.4

2989.4

3613.1

4538.5

4434.6

4135.5

2

3
4
5

Household sector
Nonfinancial corporate business
State and local governments

1158.9
45.7
35.0

1495.4
59.9
41.0

1941.2
69.1
33.6

2401.3
95.5
21.3

3111.5
128.9
25.6

3093.1
129.2
26.4

2955.2
107.8
31.5

3
4
5

6
7
8

Commercial banking
Credit unions
Bank personal trusts and estates

2.3
2.8
253.5

2.6
2.6
293.2

8.1
2.4
326.9

9.1
3.6
390.8

12.4
2.5
460.6

15.0
2.2
387.0

21.3
3.7
320.0

6
7
8

Life insurance companies
Private pension funds

27.7
326.8

35.3
412.3

38.4
569.6

23.3
668.2

43.3
753.8

48.1
733.6

44.3
651.5

9
10

9
10

FFA, 1995-2001, September 16, 2002

83

L.215 Bank Loans Not Elsewhere Classified
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

1996

1997

1998

1999

2000

2001

1

Total loans by commercial
banking, flow of funds basis

2646.9

2821.1

3052.9

3304.6

3505.1

3874.8

3944.4

1

2
3
4
5

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

5.7
1090.2
502.0
99.5

6.5
1145.4
526.8
100.8

2.7
1245.3
512.6
122.5

1.1
1337.0
508.9
142.8

1.4
1495.4
499.8
124.8

1.5
1660.1
541.5
175.2

0.0
1789.8
558.0
175.2

2
3
4
5

6

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

949.6

1041.7

1169.8

1314.8

1383.8

1496.6

1421.4

6

701.6
232.6
2.3
13.1

759.8
264.8
2.5
14.6

867.9
284.0
2.4
15.5

1012.0
282.4
4.1
16.3

1104.3
260.0
2.6
16.9

1202.4
274.6
1.6
18.0

1140.9
256.1
1.9
22.5

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

11

12

= Total bank loans n.e.c.

949.6

1041.7

1169.8

1314.8

1383.8

1496.6

1421.4

12

13

Total liabilities

949.6

1041.7

1169.8

1314.8

1383.8

1496.6

1421.4

13

898.2

977.7

1092.5

1207.3

1290.6

1403.6

1314.6

14

57.4
601.8
164.7
39.7

58.0
642.1
193.6
40.4

66.5
692.7
237.3
43.9

72.6
764.7
266.3
45.1

65.6
825.5
296.2
44.2

72.3
887.9
326.0
46.9

55.5
816.5
332.5
46.9

15
16
17
18

34.6
2.6
10.9
21.1

43.7
2.9
14.3
26.5

52.1
2.1
13.8
36.3

58.7
2.8
13.1
42.8

59.2
3.0
9.9
46.4

70.5
3.5
13.2
53.8

63.2
4.3
5.9
53.1

19
20
21
22

51.4

64.0

77.3

107.5

93.2

93.0

106.8

23

14.6
15.3
16.5
5.0

15.9
19.7
20.6
7.8

19.4
24.2
16.0
17.6

29.7
26.5
17.7
33.6

14.0
35.4
17.8
26.0

21.5
35.9
17.9
17.7

23.0
50.8
18.6
14.4

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

84

FFA, 1995-2001, September 16, 2002

L.216 Other Loans and Advances
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

1996

1997

1998

1999

2000

2001

1

Total other loans and advances

935.4

993.2

1086.5

1253.0

1412.0

1565.7

1616.0

1

2
3
4
5
6
7
8
9

U.S. government loans
Liab.: Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
Farm business
State and local governments
Rest of the world
Government-sponsored enterprises

148.8
27.3
10.0
39.4
7.0
9.8
55.4
0.0

148.9
30.4
8.7
39.1
5.9
10.1
54.7
0.0

158.7
41.8
8.4
40.9
5.5
8.9
53.2
0.0

173.2
52.4
8.3
44.8
5.1
10.1
52.4
0.0

179.3
65.0
8.0
43.9
4.9
9.7
47.8
0.0

187.5
76.2
7.6
42.8
5.0
8.7
47.2
0.0

194.6
87.7
7.4
39.6
5.0
8.9
46.0
0.0

2
3
4
5
6
7
8
9

10
11

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

122.1
122.1

126.0
126.0

143.3
143.3

142.3
142.3

119.5
119.5

117.3
117.3

115.7
115.7

10
11

12
13
14

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

22.3
14.2
8.2

23.4
13.4
9.9

20.6
10.8
9.7

11.3
6.6
4.7

8.2
4.4
3.9

7.5
4.3
3.1

4.6
4.1
0.5

12
13
14

15
16
17

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

12.8
6.4
6.4

15.7
7.9
7.9

18.8
9.4
9.4

24.2
12.1
12.1

30.6
15.3
15.3

39.3
19.7
19.7

42.9
21.5
21.5

15
16
17

18
19
20

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

96.9
0.9
95.9

101.4
1.0
100.5

104.6
1.0
103.7

104.7
0.9
103.8

100.0
0.9
99.0

102.8
0.9
101.9

105.0
0.9
104.1

18
19
20

21
22
23
24
25
26
27
28

Government-sponsored enterprise loans
Liab.: Household sector (SLMA)
Noncorporate business (FCS)
Farm business (FCS)
Commercial banks (FHLB and SLMA)
Savings institutions (FHLB and SLMA)
Credit unions (FHLB)
Life insurance companies (FHLB)

200.3
35.2
16.4
13.8
36.7
97.4
0.4
0.5

229.1
34.6
15.1
16.5
39.0
121.9
0.4
1.6

260.3
30.2
15.1
16.5
58.1
138.0
0.6
1.8

352.6
29.0
17.8
17.1
104.9
180.1
1.1
2.5

466.2
34.5
17.9
17.9
145.6
243.7
3.4
3.2

514.6
37.4
19.4
19.5
172.4
260.0
3.4
2.5

554.7
39.8
22.3
19.5
196.6
268.5
4.9
3.1

21
22
23
24
25
26
27
28

29
30
31

Securitized loans held by ABS issuers
Liab.: Households (1)
Nonfinancial corporate business

30.6
1.0
29.6

44.0
6.3
37.7

76.2
14.1
62.1

103.8
17.9
85.9

113.0
19.4
93.6

138.3
29.9
108.4

151.5
30.7
120.8

29
30
31

32
33
34

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

301.6
271.4
30.2

304.7
274.2
30.5

304.1
273.7
30.4

340.9
306.8
34.1

395.1
355.6
39.5

458.4
412.6
45.8

447.0
402.3
44.7

32
33
34

(1) Student loans.

FFA, 1995-2001, September 16, 2002

85

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

1
2
3
4
5
6

Total mortgages
Home
Multifamily residential
Commercial
Farm

1996

1997

1998

1999

2000

2001

4576.0

4863.9

5201.1

5715.7

6320.1

6885.7

7591.4

1

3478.2
275.4
738.1
84.2

3720.0
287.8
769.2
86.9

3978.3
300.1
832.7
90.0

4366.0
331.6
921.6
96.6

4790.6
369.3
1057.9
102.3

5204.1
406.6
1166.3
108.9

5734.2
454.8
1286.0
116.3

2
3
4
5

4576.0

4863.9

5201.1

5715.7

6320.1

6885.7

7591.4

6

Household sector

3445.3

3674.3

3913.2

4261.7

4642.2

5015.5

5504.1

7

8
9
10
11

Nonfinancial business
Corporate
Nonfarm noncorporate
Farm

1106.7
217.4
805.0
84.2

1157.7
227.6
843.2
86.9

1241.1
260.2
890.9
90.0

1382.4
277.2
1008.6
96.6

1601.2
345.6
1153.3
102.3

1787.3
395.5
1283.0
108.9

2003.1
453.7
1433.1
116.3

8
9
10
11

12
13

Federal government
REITs

0.0
24.1

0.0
31.9

0.0
46.8

0.0
71.6

0.0
76.7

0.0
82.9

0.0
84.2

12
13

4576.0

4863.9

5201.1

5715.7

6320.1

6885.7

7591.4

14

7

14

Total liabilities

1995

Total assets

15
16
17

Household sector
Nonfinancial corporate business
Nonfarm noncorporate business

109.5
57.9
21.7

109.5
54.4
20.4

109.6
80.2
18.7

110.5
67.3
26.7

110.4
41.2
24.7

111.4
31.2
27.8

112.2
28.2
31.1

15
16
17

18
19

State and local governments
Federal government

113.8
57.5

117.6
50.3

121.3
45.7

125.4
44.9

129.8
77.7

134.3
76.9

139.0
75.8

18
19

20
21
22
23

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

1090.2
596.8
66.5
3.3

1145.4
628.3
76.0
3.6

1245.3
631.8
86.0
3.0

1337.0
644.0
96.9
2.8

1495.4
668.1
111.0
2.2

1660.1
723.0
124.9
2.1

1789.8
758.2
141.3
2.0

20
21
22
23

24
25
26
27

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

213.1
2.8
8.4
15.9

208.2
2.4
9.0
16.7

206.8
2.2
9.7
17.6

213.6
2.0
9.3
24.1

230.8
1.9
10.3
21.5

235.9
1.6
11.5
21.5

243.0
1.9
12.8
24.9

24
25
26
27

28
29
30

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

250.4
1570.3
278.2

244.1
1711.3
326.3

239.4
1825.8
406.2

247.1
2018.4
563.0

242.3
2292.2
656.1

267.3
2491.6
739.8

301.2
2830.1
885.6

28
29
30

31
32
33

Finance companies
Mortgage companies
REITs

72.4
33.0
14.1

85.5
41.2
13.8

96.5
32.1
22.9

121.2
35.3
26.3

145.8
35.6
23.0

172.3
35.9
16.8

161.3
37.2
15.7

31
32
33

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

86

FFA, 1995-2001, September 16, 2002

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

1
2
3
4
5

Total liabilities
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business

1996

1997

1998

1999

2000

2001

3478.2

3720.0

3978.3

4366.0

4790.6

5204.1

5734.2

1

3353.3
6.9
118.0

3577.7
7.8
134.4

3818.1
8.0
152.2

4157.2
9.4
199.4

4531.1
11.5
248.0

4901.6
13.5
289.0

5379.4
15.6
339.3

2
3
4

3478.2

3720.0

3978.3

4366.0

4790.6

5204.1

5734.2

5

Household sector
Nonfinancial corporate business
Nonfarm noncorporate business

88.8
33.8
8.2

87.6
24.5
7.6

86.5
29.8
7.0

85.3
27.1
10.0

84.2
20.2
9.0

83.2
15.3
10.1

82.2
13.4
11.1

6
7
8

9
10

State and local governments
Federal government

60.5
24.2

62.8
21.2

65.8
19.1

69.1
18.8

72.6
18.4

76.3
17.7

80.1
17.1

9
10

11
12
13
14

Commercial banking
Savings institutions
Credit unions
Bank personal trusts and estates

646.5
482.4
66.5
3.3

677.6
513.7
76.0
3.6

745.5
520.7
86.0
3.0

797.0
533.5
96.9
2.8

879.6
548.2
111.0
2.2

965.6
594.2
124.9
2.1

1023.9
620.6
141.3
2.0

11
12
13
14

15
16
17

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

8.9
4.4
4.4

7.0
5.0
5.0

7.2
5.7
5.6

6.6
5.8
8.4

5.9
6.7
7.5

4.9
7.8
7.5

4.9
9.2
8.7

15
16
17

18
19
20

Government-sponsored enterprises
Federally related mortgage pools
ABS issuers

205.2
1543.4
224.3

198.5
1678.8
256.2

194.3
1788.1
310.7

199.6
1970.2
405.2

189.3
2234.7
455.0

205.1
2425.6
499.8

225.3
2748.5
591.2

18
19
20

21
22
23

Finance companies
Mortgage companies
REITs

42.7
23.8
6.9

55.0
32.0
8.0

67.5
21.8
14.0

90.0
24.9
14.8

108.2
25.2
12.4

130.6
25.4
7.9

120.1
26.7
7.9

21
22
23

289.3
140.0
50.5
22.9
33.1
42.7

338.1
153.8
52.3
25.5
51.6
55.0

416.2
174.0
55.5
29.0
90.2
67.5

476.7
176.9
55.9
29.7
124.2
90.0

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

24
25
26
27
28
29

6
7
8

24
25
26
27
28
29

Total assets

1995

Memo:
Home equity loans included above (2)
Commercial banking
Savings institutions
Credit unions
ABS issuers
Finance companies

(1) Mortgages on 1-4 family properties.
(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by mortgage companies and individuals.

L.219 Multifamily Residential Mortgages
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

Total liabilities

2
3

Nonfinancial corporate business
Nonfarm noncorporate business

4
5

Federal government
REITs

6
7
8
9

Total assets
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business

275.4

287.8

300.1

331.6

369.3

406.6

454.8

1

21.1
246.4

21.7
255.6

22.5
262.1

23.5
284.4

24.7
319.2

25.9
353.2

27.3
399.7

2
3

0.0
7.9

0.0
10.5

0.0
15.4

0.0
23.6

0.0
25.3

0.0
27.4

0.0
27.8

4
5

275.4

287.8

300.1

331.6

369.3

406.6

454.8

6

1.6
0.1
7.2

1.5
0.8
6.8

1.5
1.4
6.2

1.5
1.1
8.8

1.4
0.9
8.0

1.4
0.8
9.0

1.4
0.7
10.4

7
8
9

10
11

State and local governments
Federal government

44.1
17.7

45.9
14.8

46.5
13.9

47.4
13.6

48.3
13.6

49.3
13.9

50.3
13.7

10
11

12
13

Commercial banking
Savings institutions

42.5
62.0

45.5
61.6

49.7
59.5

54.6
57.0

67.7
59.3

77.8
61.3

84.9
64.6

12
13

14
15
16

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

28.7
1.0
4.5

30.8
1.0
4.7

30.4
1.0
5.0

31.5
0.9
6.7

32.8
0.9
6.0

33.7
0.9
6.0

35.6
0.9
7.0

14
15
16

17
18
19

Government-sponsored enterprises
Federally related mortgage pools
ABS issuers

18.5
26.9
11.9

17.7
32.5
15.9

16.2
37.8
20.9

16.4
48.3
33.8

20.8
57.5
42.3

28.1
66.0
48.8

37.5
81.6
57.0

17
18
19

20
21
22

Finance companies
Mortgage companies
REITs

3.0
4.2
1.6

3.1
4.1
1.2

2.8
5.2
2.1

2.5
5.3
2.1

2.8
5.3
1.6

2.9
5.4
1.3

2.7
5.4
1.1

20
21
22

FFA, 1995-2001, September 16, 2002

87

L.220 Commercial Mortgages
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

1
2
3
4
5
6
7
8
9

Total liabilities
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
REITs
Total assets
Household sector
Nonfinancial corporate business
Nonfarm noncorporate business

1996

1997

1998

1999

2000

2001

738.1

769.2

832.7

921.6

1057.9

1166.3

1286.0

1

91.9
189.5
440.6
16.1

96.6
198.0
453.2
21.4

95.1
229.7
476.6
31.4

104.5
244.3
524.8
48.0

111.2
309.3
586.1
51.4

113.9
356.0
640.8
55.6

124.7
410.8
694.1
56.4

2
3
4
5

738.1

769.2

832.7

921.6

1057.9

1166.3

1286.0

6

3.7
24.0
5.7

4.4
29.1
5.3

5.1
49.1
4.9

6.0
39.1
6.9

6.8
20.1
6.4

7.3
15.1
7.2

7.9
14.1
7.8

7
8
9

7.7
9.4

7.5
8.5

7.7
7.8

7.6
7.9

7.5
41.5

7.4
41.1

7.2
41.0

10
11

10
11

State and local governments
Federal government

12
13

Commercial banking
Savings institutions

377.3
52.1

397.5
52.7

423.1
51.3

456.3
53.0

516.3
60.1

582.6
67.0

645.6
72.5

12
13

14
15
16
17

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

165.9
2.8
3.0
7.0

160.3
2.4
3.0
7.0

158.8
2.2
3.0
7.0

164.0
2.0
2.6
8.9

179.0
1.9
2.7
8.0

183.8
1.6
2.7
8.0

188.4
1.9
2.7
9.2

14
15
16
17

18
19
20
21
22

Federally related mortgage pools
ABS issuers
Finance companies
Mortgage companies
REITs

0.0
41.9
26.7
5.1
5.6

0.0
54.2
27.5
5.1
4.6

0.0
74.6
26.2
5.1
6.9

0.0
124.0
28.7
5.1
9.4

0.0
158.8
34.8
5.1
9.0

0.0
191.2
38.8
5.1
7.6

0.0
237.4
38.5
5.1
6.6

18
19
20
21
22

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

Total liabilities (Farm business)

84.2

86.9

90.0

96.6

102.3

108.9

116.3

1

2

Total assets

84.2

86.9

90.0

96.6

102.3

108.9

116.3

2

15.3
0.7

15.9
0.7

16.5
0.6

17.7
1.0

17.9
1.3

19.4
1.6

20.7
1.8

3
4

1.4
6.2

1.4
5.8

1.4
4.9

1.4
4.5

1.4
4.3

1.4
4.1

1.4
4.0

5
6

23.8
0.3

24.9
0.3

27.0
0.4

29.0
0.4

31.8
0.5

34.0
0.5

35.5
0.5

7
8

9.7
0.0

10.1
0.0

10.5
0.0

11.5
0.0

13.0
0.0

13.6
0.0

14.1
0.0

9
10

26.8
0.0

27.9
0.0

28.9
0.0

31.0
0.0

32.2
0.0

34.2
0.0

38.5
0.0

11
12

3
4

Household sector
Nonfarm noncorporate business

5
6

State and local governments
Federal government

7
8

Commercial banking
Savings institutions

9
10

Life insurance companies
State and local govt. retirement funds

11
12

Government-sponsored enterprises
Federally related mortgage pools

88

FFA, 1995-2001, September 16, 2002

L.222 Consumer Credit
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

1996

1997

1998

1999

2000

2001

1

Total liabilities (Households)

1122.8

1214.1

1271.6

1346.6

1446.1

1593.1

1703.3

1

2

Total assets

1122.8

1214.1

1271.6

1346.6

1446.1

1593.1

1703.3

2

85.1
0.0

77.7
0.0

78.9
0.0

74.9
0.0

80.3
0.0

82.7
0.0

67.9
0.0

3
4

3
4

Nonfinancial corporate business
Nonfarm noncorporate business

5
6
7

Commercial banking
Savings institutions
Credit unions

502.0
40.1
131.9

526.8
44.7
144.1

512.6
47.2
152.4

508.9
51.6
155.4

499.8
61.5
167.9

541.5
64.6
184.4

558.0
69.1
189.6

5
6
7

8
9

ABS issuers
Finance companies

211.6
152.1

265.8
154.9

313.1
167.5

372.4
183.3

435.1
201.5

500.1
219.8

582.2
236.6

8
9

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

1704.3

1827.6

1967.4

2073.8

2342.4

2512.6

2493.4

1

2

Household sector

101.1

109.1

118.0

126.8

130.9

138.6

144.7

2

3
4
5

Nonfinancial corporate business
Nonfarm noncorporate business
Farm business

877.5
86.2
16.2

927.0
116.8
17.4

992.1
147.8
18.8

1049.7
169.5
19.6

1228.2
210.2
20.0

1340.7
245.2
20.9

1259.8
265.2
21.0

3
4
5

6
7

State and local governments
Federal government

486.7
81.1

517.6
81.8

549.0
72.9

579.5
65.0

608.6
64.7

635.9
45.5

661.1
54.5

6
7

8
9

Rest of the world
Brokers and dealers

45.3
10.3

43.6
14.3

48.8
19.9

44.9
18.9

49.1
30.9

49.9
35.9

47.8
39.2

8
9

1513.9

1662.9

1839.3

1988.9

2250.7

2394.9

2359.3

10

1184.9
140.3

1273.1
169.8

1366.6
204.9

1452.9
233.8

1653.4
276.4

1716.4
318.7

1630.0
333.8

11
12

10

Total trade payables

Total trade receivables

11
12

Nonfinancial corporate business
Nonfarm noncorporate business

13
14

Federal government
Rest of the world

23.1
52.6

24.0
58.1

20.8
59.0

22.3
52.5

22.9
47.5

28.1
47.0

35.4
44.3

13
14

15
16

Other insurance companies
ABS issuers

57.3
55.7

57.2
80.7

59.9
128.1

61.5
165.9

63.6
187.0

64.6
220.0

69.9
245.9

15
16

190.4

164.7

128.1

84.8

91.7

117.7

134.0

17

17

Discrepancy

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

Total liabilities

2
3

Household sector
Rest of the world

4
5
6
7

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

8

Total assets

9
10

Household sector
Rest of the world

11
12

Commercial banking
Brokers and dealers

305.7

358.1

469.1

572.2

676.6

822.7

825.9

1

78.6
0.0

94.4
0.0

131.2
0.0

152.8
0.0

227.9
0.0

235.1
0.0

196.4
0.0

2
3

227.1
127.6
65.1
34.4

263.7
162.9
60.2
40.6

337.9
215.5
64.4
58.0

419.5
276.7
76.3
66.5

448.7
323.9
67.6
57.2

587.6
412.4
74.7
100.5

629.5
454.3
81.9
93.3

4
5
6
7

305.7

358.1

469.1

572.2

676.6

822.7

825.9

8

127.6
0.0

162.9
0.0

215.5
0.0

276.7
0.0

323.9
0.0

412.4
0.0

454.3
0.0

9
10

99.5
78.6

100.8
94.4

122.5
131.2

142.8
152.8

124.8
227.9

175.2
235.1

175.2
196.4

11
12

FFA, 1995-2001, September 16, 2002

89

L.225 Life Insurance and Pension Fund Reserves
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

1996

1997

1998

1999

2000

2001

Life insurance reserves:
1

Total liabilities

566.2

610.6

665.0

718.3

783.9

819.1

880.0

1

2
3

Federal government
Life insurance companies

29.9
536.3

30.5
580.1

32.3
632.7

33.6
684.7

35.0
748.9

36.4
782.7

37.8
842.2

2
3

4

Total assets (Households)

566.2

610.6

665.0

718.3

783.9

819.1

880.0

4

5671.3

6325.1

7323.4

8208.4

9065.3

9069.0

8694.0

5

506.3
880.6

561.4
953.9

601.7
1086.1

642.9
1248.1

684.0
1431.0

704.9
1456.1

765.8
1465.3

6
7

2964.0
1320.4

3295.2
1514.6

3793.6
1842.0

4231.9
2085.4

4687.9
2262.3

4576.4
2331.5

4236.5
2226.4

8
9

5671.3

6325.1

7323.4

8208.4

9065.3

9069.0

8694.0

10

Pension fund reserves:
5

Total liabilities

6
7

Federal government (1)
Life insurance companies

8
9

Private pension funds (2)
State and local govt. retirement funds

10

Total assets (Households) (3)

(1) Includes civil service retirement and disability fund, Railroad Retirement Board, military retirement fund, judicial retirement funds, and foreign service retirement and disability fund.
(2) Includes unallocated insurance company contracts beginning 1985:Q4.
(3) Excludes all individual retirement accounts (IRAs) (table L.225.i), except those at life insurance companies.

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

Total taxes payable by all businesses

109.3

128.8

151.1

170.7

193.9

215.6

229.9

1

2
3

Nonfinancial corporate business
Nonfarm noncorporate business

40.3
37.6

49.9
42.5

59.2
49.8

64.1
58.7

71.0
68.0

78.0
75.5

78.1
82.3

2
3

4
5

U.S.-chartered commercial banks
Savings institutions

2.8
1.6

4.0
1.4

5.4
1.8

7.1
2.0

9.0
2.0

11.1
2.5

13.5
1.7

4
5

6
7

Life insurance companies
Other insurance companies

12.0
9.0

12.5
11.6

13.7
13.4

14.9
15.4

16.2
17.4

17.8
19.7

19.7
22.4

6
7

8
9

Finance companies
Brokers and dealers

4.9
1.1

5.7
1.3

6.5
1.3

7.3
1.3

8.1
2.2

9.1
2.1

10.2
1.9

8
9

45.2

46.8

46.9

49.5

72.0

87.9

129.9

10

27.9
17.3

26.1
20.7

26.9
20.0

28.1
21.4

33.5
38.5

45.6
42.4

50.1
79.8

11
12

64.1

81.9

104.2

121.2

121.9

127.7

100.0

13

10
11
12
13

Total business taxes receivable
State and local governments
Federal government
Discrepancy

L.227 Investment in Bank Personal Trusts and Estates
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

Liab.: Bank personal trusts and estates

803.0

871.3

942.5

1001.0

1130.4

1019.4

912.0

1

2

Asset: Household sector

803.0

871.3

942.5

1001.0

1130.4

1019.4

912.0

2

90

FFA, 1995-2001, September 16, 2002

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

1

1996

1997

1998

1999

2000

2001

5967.8

6388.0

6733.2

7633.8

8489.4

9387.4

10083.1

1

2
3
4

Household sector
Nonfinancial corporate business
Nonfarm noncorporate business

17.5
2182.6
214.8

18.3
2309.5
245.5

18.6
2195.5
301.3

17.2
2569.7
393.0

19.4
2898.0
466.6

19.6
3138.8
533.1

19.1
3373.2
568.4

2
3
4

5
6

Federal government
Rest of the world

6.7
1030.2

7.3
1155.6

6.6
1237.9

6.7
1389.8

6.6
1628.4

6.4
1796.5

6.2
1919.9

5
6

7
8
9
10

Monetary authority
Commercial banking
Savings institutions
Credit unions

7.4
848.4
106.1
4.5

7.4
863.0
103.5
4.6

9.5
1023.7
101.4
4.6

10.7
1115.2
99.9
5.2

9.4
1077.4
85.2
6.0

10.6
1257.8
102.3
5.6

7.7
1258.4
121.4
3.8

7
8
9
10

11
12

Life insurance companies
Other insurance companies

524.6
501.6

567.5
509.9

625.4
522.3

649.5
527.7

683.5
534.6

683.8
543.3

704.4
569.3

11
12

13
14
15

Government-sponsored enterprises
Finance companies
Mortgage companies

66.9
202.4
16.5

67.2
202.0
20.6

75.1
206.0
16.0

95.3
223.8
17.7

89.3
290.7
17.8

96.7
373.5
17.9

133.1
392.6
18.6

13
14
15

16
17
18

REITs
Brokers and dealers
Funding corporations

6.7
85.4
145.5

9.2
110.1
186.9

18.0
131.1
240.1

31.6
176.4
304.3

36.0
180.5
459.8

37.8
181.7
582.0

37.9
317.0
632.1

16
17
18

6763.3

7524.3

8109.8

9589.9

10936.3

12394.1

13290.5

19

291.7
3062.9
167.0
44.5

301.4
3410.8
203.5
44.4

311.7
3628.7
259.9
44.8

321.4
4477.5
382.1
45.4

334.2
5425.6
473.9
45.6

338.9
6003.5
551.2
45.5

354.9
6245.2
626.5
47.0

20
21
22
23

19

Total liabilities

1995

Total assets

20
21
22
23

Household sector
Nonfinancial corporate business
Nonfarm noncorporate business
Farm business

24
25
26

State and local governments
Federal government
Rest of the world

55.4
116.9
798.7

41.0
110.2
949.7

27.0
104.8
936.7

11.5
101.3
1055.6

18.1
100.4
1166.6

24.0
99.0
1572.8

24.7
100.3
1758.0

24
25
26

27
28
29
30
31

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

10.7
797.8
54.7
13.9
12.1

11.2
823.7
52.9
13.7
16.0

13.2
934.0
49.7
17.6
14.6

16.1
1065.2
62.8
24.3
23.0

16.8
1097.7
60.2
8.0
20.5

19.3
1196.9
67.8
25.9
19.0

20.3
1349.6
87.0
32.8
18.1

27
28
29
30
31

32
33
34
35

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

105.1
37.8
505.2
54.6

73.7
33.6
555.5
62.8

65.7
42.8
590.9
63.5

69.2
47.0
622.2
66.1

34.9
53.0
627.7
81.0

55.6
55.8
621.3
93.5

28.1
57.5
615.3
113.8

32
33
34
35

36
37
38

Money market mutual funds
Mutual funds
Government-sponsored enterprises

39.4
6.3
28.0

43.8
4.7
61.5

58.1
11.8
68.8

67.7
7.7
70.1

90.4
4.2
75.5

102.5
3.5
85.2

128.6
0.8
96.8

36
37
38

39
40
41
42

Finance companies
REITs
Brokers and dealers
Funding corporations

129.6
7.3
258.2
165.5

153.1
5.6
320.7
230.7

175.1
10.5
391.8
288.0

184.4
21.2
499.3
348.7

235.3
21.1
522.8
423.1

259.6
21.1
655.1
477.1

280.1
21.6
821.0
462.5

39
40
41
42

-795.4

-1136.3

-1376.6

-1956.1

-2447.0

-3006.7

-3207.4

43

43

Discrepancy

FFA, 1995-2001, September 16, 2002

91

L.230 Identified Miscellaneous Financial Claims - Part I
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

1996

1997

1998

1999

2000

2001

U.S. direct investment abroad:
1
2
3
4
5
6
7

Liab.: Rest of the world
Asset: Nonfinancial corporate business
Commercial banking
Life insurance companies
Other insurance companies
Finance companies
Brokers and dealers

885.5
778.7
37.9
5.6
37.8
22.8
2.8

989.8
866.5
42.8
6.6
33.6
27.9
12.4

1068.1
933.1
44.2
8.6
42.8
35.1
4.2

1196.2
1041.2
31.2
11.1
47.0
58.0
7.7

1377.3
1188.9
35.4
15.6
53.0
73.9
10.4

1515.3
1304.0
44.8
16.9
55.8
81.2
12.6

1623.1
1389.5
45.3
19.4
57.5
98.2
13.3

1
2
3
4
5
6
7

Foreign direct investment in U.S.:
8
9
10
11
12
13
14
15

Liab.: Nonfinancial corporate business
Nonfarm noncorporate business
Commercial banking
Life insurance companies
Other insurance companies
Finance companies
Brokers and dealers
Funding corporations

641.1
2.8
32.7
13.8
36.8
24.8
11.1
-83.1

698.4
4.0
30.3
17.6
38.5
29.7
8.8
-81.6

750.6
3.9
38.8
25.2
46.2
35.7
8.5
-84.6

811.7
3.4
46.1
27.3
47.3
37.2
10.7
-63.9

969.2
3.4
64.7
32.1
51.6
49.8
10.9
-80.9

1132.8
3.6
68.1
51.3
61.2
65.3
19.1
-26.6

1196.6
3.7
78.1
59.4
61.0
71.5
14.5
14.1

8
9
10
11
12
13
14
15

16

Asset: Rest of the world

680.1

745.6

824.1

919.8

1100.8

1374.8

1498.9

16

27.4
27.4

29.2
29.2

30.8
30.8

32.4
32.4

33.9
33.9

35.4
35.4

37.1
37.1

17
18

4.0
4.0

4.6
4.6

5.4
5.4

6.0
6.0

6.4
6.4

7.0
7.0

7.4
7.4

19
20

20.1

21.3

21.9

25.3

30.8

33.0

28.5

21

1.8
1.0
2.2
0.0
5.8
9.1
0.2
0.1

1.6
1.7
1.5
0.0
6.7
9.5
0.2
0.2

0.5
1.7
1.5
0.0
8.0
9.9
0.2
0.2

-0.2
1.6
1.7
0.0
10.0
11.8
0.3
0.2

-0.8
1.6
1.6
0.0
13.0
14.5
0.5
0.3

-0.8
1.6
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

22
23
24
25
26
27
28
29

Federal government equity in IBRD, etc.:
17
18

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

19
20

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

21

Liab.: Government-sponsored enterprises

22
23
24
25
26
27
28
29

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

30
31
32
33
34

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

344.3
4.5
25.5
16.5
18.1

372.9
4.7
27.3
20.6
12.3

413.6
5.0
23.5
16.0
45.3

469.0
5.4
17.1
17.7
93.8

471.9
6.0
43.9
17.8
83.6

525.4
6.6
51.3
17.9
113.9

586.1
7.4
49.6
18.6
143.9

30
31
32
33
34

35

Asset: Bank holding companies

408.9

437.8

503.5

603.0

623.1

715.1

805.6

35

25.5
25.5

27.3
27.3

23.5
23.5

17.1
17.1

43.9
43.9

51.3
51.3

49.6
49.6

36
37

NFC inv. in finance company subs.:
36
37

Liab.: Finance companies
Asset: Nonfinancial corporate business
Funding corp. investment in subs.:

38
39

Liab.: Foreign banking offices in U.S.
Brokers and dealers

50.7
114.8

64.5
166.3

78.8
209.2

90.6
258.2

93.0
330.1

138.7
338.4

107.9
354.7

38
39

40

Asset: Funding corporations

165.5

230.7

288.0

348.7

423.1

477.1

462.5

40

92

FFA, 1995-2001, September 16, 2002

L.231 Identified Miscellaneous Financial Claims - Part II
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

1996

1997

1998

1999

2000

2001

Nonofficial foreign currencies:
1
2

Liab.: Rest of the world
Asset: Federal government

2.3
2.3

2.2
2.2

2.1
2.1

2.0
2.0

2.6
2.6

2.6
2.6

2.6
2.6

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

3
4

19.3
19.3

18.0
18.0

18.0
18.0

24.9
24.9

17.1
17.1

17.0
17.0

25.7
25.7

5
6

17.5
17.5

18.3
18.3

18.6
18.6

17.2
17.2

19.4
19.4

19.6
19.6

19.1
19.1

7
8

Postal Savings System deposits:
3
4

Liab.: Federal government
Asset: Household sector
Deposits at Federal Home Loan Banks:

5
6

Liab.: Government-sponsored enterprises
Asset: Savings institutions
Deferred and unpaid life insurance premiums:

7
8

Liab.: Household sector
Asset: Life insurance companies
Life insurance company reserves:

9
10
11

Liab.: Life insurance companies
Health
Policy dividend accumulation

96.9
63.2
33.7

103.9
69.4
34.5

112.2
75.7
36.4

120.1
83.0
37.1

131.9
93.5
38.4

136.8
97.4
39.5

141.0
100.5
40.4

9
10
11

12

Asset: Household sector

96.9

103.9

112.2

120.1

131.9

136.8

141.0

12

Policy payables:
13

Liab.: Other insurance companies

464.8

471.4

476.2

480.4

482.9

482.1

508.2

13

14
15
16
17

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

194.7
183.6
44.2
42.3

197.5
186.2
44.8
42.9

199.5
188.1
45.2
43.3

201.3
189.8
45.6
43.7

202.3
190.8
45.9
43.9

202.0
190.4
45.8
43.9

214.0
200.8
48.3
45.3

14
15
16
17

332.2
332.2

361.1
361.1

381.9
381.9

384.6
384.6

393.5
393.5

378.4
378.4

369.0
369.0

18
19

82.4
82.4

86.4
86.4

93.5
93.5

114.9
114.9

110.1
110.1

111.3
111.3

112.6
112.6

20
21

216.2
216.2

276.1
276.1

333.3
333.3

403.3
403.3

419.5
419.5

508.2
508.2

578.3
578.3

22
23

Unallocated insurance company contracts:
18
19

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

20
21

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

22
23

Liab.: Funding corporations
Asset: Brokers and dealers

FFA, 1995-2001, September 16, 2002

93

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

1

Total liabilities

1995

1996

1997

1998

1999

2000

2001

2519.3

2564.3

2531.9

2938.0

3273.1

3522.5

3814.0

1

1459.1
212.0

1524.7
241.5

1351.3
297.5

1643.1
389.6

1818.7
463.2

1894.6
529.5

2064.0
564.7

2
3

2
3

Nonfinancial corporate business
Nonfarm noncorporate business

4
5
6

Federal government
Rest of the world
Monetary authority

6.7
115.0
3.5

7.3
134.4
2.8

6.6
136.9
4.0

6.7
159.2
4.8

6.6
214.7
3.0

6.4
243.3
3.6

6.2
257.1
0.4

4
5
6

7
8
9
10
11

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

420.7
160.7
225.1
24.6
10.3

395.4
147.7
200.5
36.3
10.9

492.5
185.1
233.9
57.9
15.6

509.6
193.0
220.6
74.1
21.9

447.8
181.2
154.5
88.1
24.1

525.6
263.2
133.3
104.4
24.8

486.3
173.7
132.8
150.8
29.0

7
8
9
10
11

12
13
14
15

Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises

101.6
4.5
81.6
27.6

98.8
4.6
84.9
28.0

96.4
4.6
106.2
35.1

94.5
5.2
117.5
45.2

79.2
6.0
126.1
41.4

95.7
5.6
117.3
46.7

114.0
3.8
135.0
79.0

12
13
14
15

16
17
18
19

Finance companies
REITs
Brokers and dealers
Funding corporations

126.5
6.7
-58.6
12.4

117.8
9.2
-77.3
-7.6

123.2
18.0
-131.9
-8.6

152.3
31.6
-186.2
-35.1

153.1
36.0
-244.1
121.2

205.6
37.8
-289.7
100.4

221.9
37.9
-196.0
39.7

16
17
18
19

3314.8

3700.6

3908.5

4894.1

5720.1

6529.2

7021.4

20

2073.3
121.9
55.4

2329.3
157.1
41.0

2483.5
213.0
27.0

3229.6
334.9
11.5

4002.8
426.4
18.1

4458.6
503.8
24.0

4613.4
576.7
24.7

21
22
23

20

Total assets

21
22
23

Nonfinancial corporate business
Nonfarm noncorporate business
State and local governments

24
25
26

Federal government
Rest of the world
Monetary authority

87.2
118.6
10.7

78.8
204.1
11.2

71.9
112.6
13.2

66.9
135.8
16.1

63.9
65.8
16.8

61.0
198.0
19.3

60.7
259.1
20.3

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

341.2
78.9
218.5
39.8
4.0

331.8
78.7
197.2
51.1
4.8

372.9
87.6
234.3
44.4
6.6

415.1
114.3
234.5
56.5
9.7

419.7
120.8
204.9
85.4
8.7

416.2
126.2
177.1
106.3
6.6

476.2
162.6
188.9
112.2
12.5

27
28
29
30
31

32
33
34

Savings institutions
Credit unions
Bank personal trusts and estates

26.4
13.8
12.1

25.3
13.6
16.0

21.7
17.3
14.6

26.2
24.0
23.0

28.6
7.4
20.5

35.1
25.3
19.0

44.3
31.9
18.1

32
33
34

35
36
37

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

81.9
90.6
54.6

48.7
108.0
62.8

38.3
115.4
63.5

40.7
122.7
66.1

-0.5
124.1
81.0

18.8
131.6
93.5

-10.7
133.7
113.8

35
36
37

38
39
40

Mutual funds
Money market mutual funds
Government-sponsored enterprises

6.3
39.4
28.0

4.7
43.8
61.5

11.8
58.1
68.8

7.7
67.7
70.1

4.2
90.4
75.5

3.5
102.5
85.2

0.8
128.6
96.8

38
39
40

41
42
43

Finance companies
REITs
Brokers and dealers

106.8
7.3
39.2

125.3
5.6
32.2

140.0
10.5
54.4

126.4
21.2
88.4

161.4
21.1
92.9

178.3
21.1
134.3

181.9
21.6
229.5

41
42
43

-795.4

-1136.3

-1376.6

-1956.1

-2447.0

-3006.7

-3207.4

44

44

Discrepancy

94

FFA, 1995-2001, September 16, 2002

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

1
2
3
4
5
6
7
8

Assets
Tangible assets
Real estate
Households (2,3)
Nonprofit organizations
Equipment and software owned by
nonprofit organizations (4)
Consumer durable goods (4)
Financial assets

1995

1996

1997

1998

1999

2000

2001

32663.6

35539.8

39675.0

43652.9

49270.4

49482.7

49132.4

1

11046.3

11493.0

12143.3

13110.7

14181.4

15529.3

16730.6

2

8787.7
7992.7
795.0

9153.7
8319.2
834.5

9723.8
8783.6
940.3

10586.1
9529.5
1056.6

11526.4
10415.4
1111.0

12712.0
11495.6
1216.4

13780.7
12576.7
1204.0

3
4
5

83.0
2175.6

85.6
2253.7

90.6
2328.8

97.2
2427.4

104.5
2550.6

113.4
2703.9

120.1
2829.7

6
7

21617.3

24046.9

27531.7

30542.2

35089.0

33953.4

32401.8

8

9
10
11
12
13

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

3298.0
23.4
543.8
2280.7
450.1

3440.7
35.5
470.6
2434.0
500.7

3622.2
37.2
436.8
2565.9
582.3

3927.4
38.3
409.5
2732.4
747.1

4053.0
43.5
348.3
2788.0
873.2

4439.7
58.5
324.9
3050.0
1006.4

4827.6
53.5
349.1
3250.6
1174.3

9
10
11
12
13

14
15
16
17
18
19
20
21
22
23

Credit market instruments
Open market paper
U.S. government securities
Treasury
Savings bonds
Other Treasury
Agency
Municipal securities
Corporate and foreign bonds
Mortgages

1963.4
48.0
927.3
819.9
185.0
634.9
107.3
455.4
423.3
109.5

2172.0
54.7
1063.6
871.5
187.0
684.5
192.1
433.2
511.0
109.5

2188.5
56.1
986.2
772.5
186.5
586.0
213.7
468.8
567.8
109.6

2303.7
63.7
965.9
734.2
186.6
547.6
231.6
486.9
676.7
110.5

2619.9
67.7
1194.8
843.3
186.4
656.8
351.6
524.8
722.2
110.4

2479.6
72.7
1025.7
642.1
184.8
457.4
383.6
549.0
720.9
111.4

2370.0
53.3
844.0
571.3
190.3
380.9
272.8
596.7
763.8
112.2

14
15
16
17
18
19
20
21
22
23

24
25
26
27
28
29
30
31

Corporate equities (2)
Mutual fund shares (5)
Security credit
Life insurance reserves
Pension fund reserves
Investment in bank personal trusts
Equity in noncorporate business (6)
Miscellaneous assets

4139.0
1158.9
127.6
566.2
5671.3
803.0
3598.3
291.7

4880.0
1495.4
162.9
610.6
6325.1
871.3
3787.4
301.4

6269.1
1941.2
215.5
665.0
7323.4
942.5
4052.7
311.7

7098.3
2401.3
276.7
718.3
8208.4
1001.0
4285.7
321.4

9122.7
3111.5
323.9
783.9
9065.3
1130.4
4544.3
334.2

7484.5
3093.1
412.4
819.1
9069.0
1019.4
4797.8
338.9

6076.6
2955.2
454.3
880.0
8694.0
912.0
4877.1
354.9

24
25
26
27
28
29
30
31

5081.3

5445.8

5824.8

6308.5

6888.3

7463.5

8040.6

32

4884.1
3353.3
1122.8
98.3
57.4
160.3
91.9

5223.9
3577.7
1214.1
104.9
58.0
172.7
96.6

5556.9
3818.1
1271.6
114.9
66.5
190.7
95.1

6011.8
4157.2
1346.6
126.9
72.6
204.0
104.5

6510.0
4531.1
1446.1
137.3
65.6
218.9
111.2

7070.1
4901.6
1593.1
143.0
72.3
246.3
113.9

7680.4
5379.4
1703.3
154.3
55.5
263.2
124.7

33
34
35
36
37
38
39

78.6
101.1

94.4
109.1

131.2
118.0

152.8
126.8

227.9
130.9

235.1
138.6

196.4
144.7

40
41

17.5

18.3

18.6

17.2

19.4

19.6

19.1

42

27582.3

30094.1

33850.2

37344.4

42382.1

42019.3

41091.8

43

6012.5
5717.7
174.0
120.8
596.2

6352.4
6049.9
178.9
123.7
624.2

6712.9
6396.0
188.7
128.2
664.8

7158.6
6826.9
198.3
133.5
709.7

7727.1
7376.9
211.1
139.1
761.6

8267.8
7900.2
222.7
144.9
816.9

8753.0
8371.7
232.1
149.2
861.2

44
45
46
47
48

5422.6

5677.7

5968.2

6355.6

6627.4

7120.2

7393.3

49

508.7

530.0

567.2

587.6

639.5

590.1

555.8

50

4639.4

4741.5

4965.5

5372.3

5884.4

6594.0

7197.4

51

58.0

57.0

56.5

56.4

56.5

57.4

57.2

52

32

Liabilities

33
34
35
36
37
38
39

Credit market instruments
Home mortgages (7)
Consumer credit
Municipal securities (8)
Bank loans n.e.c.
Other loans and advances
Commercial mortgages (8)

40
41

Security credit
Trade payables (8)
Deferred and unpaid
life insurance premiums

42
43

Net worth

44
45
46
47
48

Memo:
Replacement-cost value of structures:
Residential
Households
Farm households
Nonprofit organizations
Nonresidential (nonprofits)

49
50
51
52

Disposable personal income
Household net worth as percentage of
disposable personal income
Owners’ equity in household real
estate (9)
Owners’ equity as percentage of
household real estate (10)

(1) Sector includes farm households.
(2) At market value.
(3) All types of owner-occupied housing including farm houses and mobile homes, as well as second homes that are not rented, vacant homes for sale, and vacant land.
(4) At replacement (current) cost.
(5) Value based on the market values of equities held and the book value of other assets held by mutual funds.
(6) Net worth of noncorporate business (table B.103, line 31) and owners’ equity in farm business and unincorporated security brokers and dealers.
(7) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 24.
(8) Liabilities of nonprofit organizations.
(9) Line 4 less line 34.
(10) Line 51 divided by line 4.

FFA, 1995-2001, September 16, 2002

95

B.102 Balance Sheet of Nonfarm Nonfinancial Corporate Business
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1995

1996

1997

1998

1999

2000

2001

11735.6

12724.6

13680.6

14967.8

16686.3

18129.9

18202.3

1

6777.1

7266.8

7871.9

8151.7

8592.5

9305.2

9141.1

2

3317.7
2389.6
1069.8

3660.9
2515.2
1090.7

4100.9
2641.4
1129.6

4209.7
2771.0
1171.0

4391.9
2942.2
1258.4

4783.4
3170.6
1351.2

4676.2
3201.9
1262.9

3
4
5

4958.5

5457.7

5808.7

6816.1

8093.8

8824.7

9061.3

6

17.4
205.1
99.7
60.0
2.4
20.1
80.5
36.8
57.9
85.1
1184.9
45.7
3062.9

28.2
244.3
99.7
67.6
3.9
31.5
75.6
31.0
54.4
77.7
1273.1
59.9
3410.8

23.1
251.9
119.4
87.8
4.6
36.1
34.8
27.4
80.2
78.9
1366.6
69.1
3628.7

30.5
287.1
112.6
114.3
4.2
39.4
34.2
25.7
67.3
74.9
1452.9
95.5
4477.5

31.5
326.0
159.4
137.3
5.8
47.6
31.8
25.0
41.2
80.3
1653.4
128.9
5425.6

47.5
334.6
176.7
177.7
8.2
61.4
32.9
22.9
31.2
82.7
1716.4
129.2
6003.5

37.1
342.2
203.8
275.0
8.0
56.4
43.5
16.1
28.2
67.9
1630.0
107.8
6245.2

7
8
9
10
11
12
13
14
15
16
17
18
19

6009.5

6378.6

6628.8

7457.6

8407.3

9173.8

9563.7

20

With tangible assets stated at either market value or replacement cost:
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20

Assets
Tangible assets
Real estate (1)
Equipment and software (2)
Inventories (2)
Financial assets
Foreign deposits
Checkable deposits and currency
Time and savings deposits
Money market fund shares
Security RPs
Commercial paper
U.S. government securities
Municipal securities
Mortgages
Consumer credit
Trade receivables
Mutual fund shares (1)
Miscellaneous assets
Liabilities

21
22
23
24
25
26
27

Credit market instruments
Commercial paper
Municipal securities (3)
Corporate bonds (4)
Bank loans n.e.c.
Other loans and advances
Mortgages

2909.1
157.4
134.8
1344.1
601.8
453.7
217.4

3092.2
156.4
137.9
1460.4
642.1
467.9
227.6

3382.0
168.6
142.0
1610.9
692.7
507.7
260.2

3774.1
193.0
147.8
1829.6
764.7
562.0
277.2

4210.1
230.3
152.8
2059.5
825.5
596.5
345.6

4616.4
278.4
154.2
2230.6
887.9
669.9
395.5

4852.5
190.1
157.4
2563.2
816.5
671.6
453.7

21
22
23
24
25
26
27

28
29
30

Trade payables
Taxes payable
Miscellaneous liabilities

877.5
40.3
2182.6

927.0
49.9
2309.5

992.1
59.2
2195.5

1049.7
64.1
2569.7

1228.2
71.0
2898.0

1340.7
78.0
3138.8

1259.8
78.1
3373.2

28
29
30

31

Net worth (market value)

5726.0

6346.0

7051.9

7510.2

8279.1

8956.1

8638.6

31

78.2
3091.5

81.6
3249.1

86.5
3456.2

91.8
3602.8

96.6
3794.4

102.2
4060.3

106.4
4242.8

32
33

6414.1
50.8
45.4
112.0

7644.4
48.7
40.5
120.5

9774.6
48.0
34.6
138.6

11606.7
50.3
32.5
154.5

15191.1
50.9
27.7
183.5

12684.1
51.5
36.4
141.6

10746.6
56.2
45.2
124.4

34
35
36
37

9938.1

10732.8

11397.4

12746.6

14400.4

15556.8

15989.4

38

4979.6
1937.3
2010.8
1031.5

5275.0
2044.3
2163.1
1067.7

5588.7
2159.6
2330.1
1099.0

5930.5
2288.9
2504.3
1137.3

6306.6
2426.0
2681.7
1198.8

6732.1
2571.3
2891.0
1269.9

6928.2
2727.5
3011.7
1189.0

39
40
41
42

32
33
34
35
36
37

Memo:
Replacement-cost value of structures:
Residential
Nonresidential
Market value of equities outstanding
(includes corporate farm equities)
Debt/net worth (percent) (5)
Debt/equities (percent) (6)
Equities/net worth (percent) (7)
With tangible assets stated at historical cost:

38
39
40
41
42

Assets (8)
Tangible assets
Real estate
Equipment and software
Inventories

43

Net worth (historical cost) (9)

3928.6

4354.2

4768.6

5289.1

5993.1

6383.0

6425.7

43

44
45
46

Memo:
Historical-cost value of structures:
Residential
Nonresidential
Debt/net worth (percent) (10)

32.5
1709.9
74.0

34.0
1810.8
71.0

35.6
1923.6
70.9

37.3
2054.0
71.4

39.2
2187.2
70.2

42.6
2337.6
72.3

47.4
2489.0
75.5

44
45
46

(1) At market value.
(2) At replacement (current) cost.
(3) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.
(4) Through 1992, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues.
(5) Line 21 divided by line 31.
(6) Line 21 divided by line 34.
(7) Line 34 divided by line 31.
(8) Sum of lines 6 and 39.
(9) Line 38 less line 20.
(10) Line 21 divided by line 43.

96

FFA, 1995-2001, September 16, 2002

B.103 Balance Sheet of Nonfarm Noncorporate Business
Billions of dollars; amounts outstanding end of period, not seasonally adjusted

1
2

Assets
Tangible assets

1995

1996

1997

1998

1999

2000

2001

4201.9

4491.9

4900.5

5405.6

5940.1

6476.9

6777.5

1

3653.8

3848.7

4126.6

4416.6

4746.0

5110.9

5273.3

2

3203.4
2383.2
820.2

3370.4
2534.8
835.6

3626.4
2727.1
899.3

3878.6
2909.6
969.0

4145.6
3147.6
997.9

4548.5
3446.3
1102.2

4666.9
3584.7
1082.2

3
4
5

394.1
61.0
333.1

421.0
64.1
356.9

440.8
65.5
375.3

476.3
67.6
408.7

534.2
69.3
464.9

491.3
72.9
418.5

539.9
75.9
464.1

6
7
8
9

3
4
5

Real estate (1)
Residential
Nonresidential

6
7
8

Equipment and software (2)
Residential (3)
Nonresidential

9

Inventories (2)

56.3

57.4

59.5

61.6

66.2

71.1

66.5

10

Financial assets

548.1

643.2

773.8

989.1

1194.1

1366.0

1504.1

10

104.7
71.5
17.0

124.0
75.0
19.2

146.2
85.7
22.9

178.3
94.8
32.6

220.3
118.0
41.0

240.3
142.0
50.5

255.9
162.3
60.2

11
12
13

23.6
2.2
21.7
0.0

28.6
2.6
20.4
0.0

32.2
3.2
18.7
0.0

38.0
2.8
26.7
0.0

37.1
2.6
24.7
0.0

31.9
3.5
27.8
0.0

30.4
3.9
31.1
0.0

14
15
16
17

140.3
167.0
44.2
1.0
121.9

169.8
203.5
44.8
1.7
157.1

204.9
259.9
45.2
1.7
213.0

233.8
382.1
45.6
1.6
334.9

276.4
473.9
45.9
1.6
426.4

318.7
551.2
45.8
1.6
503.8

333.8
626.5
48.3
1.5
576.7

18
19
20
21
22

1400.7

1534.1

1722.9

2004.9

2310.9

2590.5

2809.5

23

1062.0

1129.3

1224.0

1383.7

1566.1

1736.8

1893.6

24

164.7
92.3
805.0

193.6
92.5
843.2

237.3
95.8
890.9

266.3
108.9
1008.6

296.2
116.6
1153.3

326.0
127.8
1283.0

332.5
128.0
1433.1

25
26
27

86.2
37.6
214.8

116.8
42.5
245.5

147.8
49.8
301.3

169.5
58.7
393.0

210.2
68.0
466.6

245.2
75.5
533.1

265.2
82.3
568.4

28
29
30

2801.2

2957.8

3177.5

3400.8

3629.2

3886.4

3968.0

31

1649.5
704.8

1711.9
709.2

1751.5
666.1

1834.1
627.6

1901.4
662.2

1936.2
667.4

1977.3
665.5

32
33

37.9

38.2

38.5

40.7

43.2

44.7

47.7

34

11
12
13

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

14
15
16
17

Treasury securities
Municipal securities
Mortgages
Consumer credit

18
19
20
21
22

Trade receivables
Miscellaneous assets
Insurance receivables
Equity investment in GSEs (4)
Other

23
24
25
26
27
28
29
30
31

Liabilities
Credit market instruments
Bank loans n.e.c.
Other loans and advances
Mortgages
Trade payables
Taxes payable
Miscellaneous liabilities
Net worth (5)
Memo:

32
33

Replacement-cost value of structures:
Residential
Nonresidential

34

Debt/net worth (percent) (6)

(1) At market value.
(2) At replacement (current) cost.
(3) Durable goods in rental properties.
(4) Equity in the Farm Credit System.
(5) Line 1 less line 23. Included in table B.100, line 30.
(6) Line 24 divided by line 31.

FFA, 1995-2001, September 16, 2002

97

R.100 Change in Net Worth of Households and Nonprofit Organizations
Billions of dollars; not seasonally adjusted

1
2

Change in net worth (1)
Net investment

1995

1996

1997

1998

1999

2000

2001

2843.4

2511.8

3756.2

3494.2

5037.7

-362.8

-927.4

1

434.5

482.1

410.7

567.1

356.2

291.9

506.2

2

3
4
5

Net physical investment
Capital expenditures
- Consumption of fixed capital

300.7
874.9
574.1

313.7
906.1
592.4

365.4
980.8
615.4

441.3
1083.2
641.9

477.0
1152.9
675.9

513.6
1230.7
717.1

549.5
1310.8
761.3

3
4
5

6
7
8

Net financial investment
Net acquisition of financial assets
- Net increase in liabilities

133.8
482.9
349.1

168.3
532.8
364.5

45.3
424.0
378.7

125.8
609.5
483.8

-120.8
458.6
579.4

-221.7
334.4
556.1

-43.3
533.8
577.1

6
7
8

2492.2

2030.6

3460.5

3043.5

4725.0

-524.4

-1273.1

9

346.9
1148.9
96.2
172.8

193.4
933.5
141.0
183.6

373.7
1681.6
186.2
306.0

635.6
1164.4
179.4
290.8

698.1
2351.7
552.0
297.3

916.8
-1147.5
-255.8
263.7

798.7
-1141.0
-351.8
102.4

10
11
12
13

630.2

505.5

791.9

673.0

689.9

-220.3

-600.3

14

97.2

73.6

121.1

100.3

135.9

-81.3

-81.1

15

-51.3

-50.5

-90.2

-109.7

-98.2

-87.9

-144.7

16

-52.9
1.6

-50.2
-0.4

-89.4
-0.8

-108.0
-1.7

-97.9
-0.3

-89.0
1.1

-144.4
-0.3

17
18

-32.0

49.6

-24.9

-6.7

54.8

-42.4

-15.9

19

27582.3
5422.6

30094.1
5677.7

33850.2
5968.2

37344.4
6355.6

42382.1
6627.4

42019.3
7120.2

41091.8
7393.3

20
21

9
10
11
12
13
14
15

16
17
18
19

Holding gains on assets stated
at market value (2)
Real estate
Corporate equities
Mutual fund shares
Equity in noncorporate business
Life insurance and
pension fund reserves
Investment in bank personal
trusts and estates
Holding gains on assets stated
at current cost (2)
Consumer durable goods
Equipment and software
Other factors (3)
Memo:

20
21

Net worth outstanding (4)
Disposable personal income

(1) Sum of net investment (line 2), holding gains (lines 9 and 16), and other factors (line 19).
(2) Calculated as change in amount outstanding during period less net purchases during period.
(3) Consists of the difference between series for consumption of fixed capital published by BEA and statistical discontinuities.
(4) Table B.100, line 43.

98

FFA, 1995-2001, September 16, 2002

R.102 Change in Net Worth of Nonfarm Nonfinancial Corporate Business
Billions of dollars; not seasonally adjusted
1995

1996

1997

1998

1999

2000

2001

With tangible assets valued at either market or replacement cost:
1

471.0

620.0

705.9

458.4

768.8

677.0

-317.4

1

191.9

181.3

127.8

-28.7

173.8

177.9

78.8

2

Net physical investment
Capital expenditures
- Consumption of fixed capital
- Inventory valuation adjustment
- Access rights from fed. government

214.7
638.7
434.3
-18.3
8.1

195.3
662.7
459.5
3.1
4.8

253.3
760.2
489.7
8.5
8.8

284.3
826.5
519.7
18.4
4.1

335.0
885.0
552.5
-4.2
1.7

376.0
957.2
595.6
-15.0
0.6

140.2
794.2
648.7
5.0
0.3

3
4
5
6
7

Net financial investment
Net acquisition of financial assets
- Net increase in liabilities

35.5
426.4
390.8

55.5
454.0
398.5

-11.1
272.4
283.5

-46.1
569.9
616.0

-17.7
969.9
987.6

-38.4
761.4
799.8

0.4
287.8
287.3

8
9
10

11

Net corporate equity issues

-58.3

-69.5

-114.4

-267.0

-143.5

-159.7

-61.8

11

12
13
14

Holding gains on assets stated
at market value (2)
Real estate
Mutual fund shares

126.1
116.1
10.0

291.0
280.1
10.9

396.5
379.0
17.5

61.9
45.8
16.1

108.4
87.5
20.9

289.3
301.9
-12.6

-208.8
-192.6
-16.2

12
13
14

15
16
17
18
19

Holding gains on assets stated
at current cost less holding
gains on liabilities stated
at current cost (2)
Equipment and software
Inventories (3)
Direct investment abroad
- Foreign direct investment in U.S.

66.8
55.0
4.4
2.8
-4.7

52.0
23.6
2.9
11.0
-14.5

24.6
3.9
-9.6
-17.6
-48.0

44.8
-8.6
-8.9
-21.1
-83.3

117.1
13.1
25.1
-10.7
-89.6

58.4
49.9
15.4
-32.4
-25.5

-101.2
-60.1
-24.5
-19.4
-2.8

15
16
17
18
19

20

Other factors (4)

82.1

129.0

157.5

443.3

436.6

137.7

-109.4

20

5726.0

6346.0

7051.9

7510.2

8279.1

8956.1

8638.6

21

365.1

425.6

414.4

520.4

704.1

389.9

42.7

22

191.9

181.3

127.8

-28.7

173.8

177.9

78.8

23

2
3
4
5
6
7
8
9
10

Change in net worth (1)
Net investment

Memo:
21

Net worth outstanding (market value)

With tangible assets valued at historical cost:
22
23

Change in net worth (5)
Net investment flow

24
25
26
27
28

Net physical investment
Capital expenditures
- Consumption of fixed capital
- Inventory valuation adjustment
- Access rights from fed. government

214.7
638.7
434.3
-18.3
8.1

195.3
662.7
459.5
3.1
4.8

253.3
760.2
489.7
8.5
8.8

284.3
826.5
519.7
18.4
4.1

335.0
885.0
552.5
-4.2
1.7

376.0
957.2
595.6
-15.0
0.6

140.2
794.2
648.7
5.0
0.3

24
25
26
27
28

29
30
31

Net financial investment
Net acquisition of financial assets
- Net increase in liabilities

35.5
426.4
390.8

55.5
454.0
398.5

-11.1
272.4
283.5

-46.1
569.9
616.0

-17.7
969.9
987.6

-38.4
761.4
799.8

0.4
287.8
287.3

29
30
31

32

Net corporate equity issues

-58.3

-69.5

-114.4

-267.0

-143.5

-159.7

-61.8

32

-15.4

30.2

-5.2

-0.5

-24.5

-14.8

-38.0

33

33

Valuation adjustment on
reproducible assets (6)

34

Holding gains on mutual fund shares (2)

10.0

10.9

17.5

16.1

20.9

-12.6

-16.2

34

35
36
37

Holding gains on assets stated
at current cost less holding
gains on liabilities stated
at current cost (2)
Direct investment abroad
- Foreign direct investment in U.S.

7.4
2.8
-4.7

25.5
11.0
-14.5

30.3
-17.6
-48.0

62.3
-21.1
-83.3

78.9
-10.7
-89.6

-6.9
-32.4
-25.5

-16.6
-19.4
-2.8

35
36
37

171.3

177.7

244.0

471.3

454.9

246.3

34.8

38

3928.6

4354.2

4768.6

5289.1

5993.1

6383.0

6425.7

39

38

Other factors (4)
Memo:

39

Net worth outstanding (historical cost)

(1) Sum of net investment (line 2), holding gains (lines 12 and 15), and other factors (line 20).
(2) Calculated as change in amount outstanding during period less net purchases during period.
(3) Before inventory valuation adjustment.
(4) Consists of statistical discontinuities.
(5) Sum of net investment flow (line 23), valuation adjustment on reproducible assets (line 33), holding gains (lines 34 and 35), and other factors (line 38).
(6) Effect of different treatment of certain items in BEA capital accounts from the NIPA accounts in the calculation of historical-cost investment flows; also reflects adjustments for intersectoral transfers
of assets.

FFA, 1995-2001, September 16, 2002

99

R.103 Change in Net Worth of Nonfarm Noncorporate Business
Billions of dollars; not seasonally adjusted
1995

1
2

Change in net worth (1)
Net investment (2)

3
4
5

Net physical investment
Capital expenditures
- Consumption of fixed capital

6

Net acquisition of financial assets

1996

1997

1998

1999

2000

2001

177.4

156.6

219.7

223.2

228.4

257.2

81.6

1

26.7

-9.0

-55.6

-64.8

-43.5

-31.5

-35.9

2

26.5
132.1
105.6

28.4
139.2
110.8

3.3
121.8
118.5

2.5
127.5
125.0

57.7
190.2
132.5

76.1
217.0
141.0

44.9
192.9
148.0

3
4
5

75.2

95.1

130.7

215.2

205.0

171.9

138.1

6

7
8
9
10

- Net increase in liabilities from:
Credit market instruments
Trade payables
Taxes payable
Miscellaneous liabilities

46.1
12.4
2.9
13.5

67.3
30.6
4.9
29.7

94.7
31.0
7.3
56.5

159.7
21.6
9.0
92.3

182.4
40.7
9.3
73.9

170.7
35.0
7.5
66.3

156.8
20.0
6.8
35.4

7
8
9
10

11
12
13

Holding gains on assets stated
at market value (real estate) (3)
Residential
Nonresidential

142.0
120.6
21.4

166.0
145.7
20.3

281.9
192.2
89.8

279.9
183.0
96.9

252.3
222.2
30.1

369.7
284.4
85.4

94.4
129.6
-35.2

11
12
13

14
15
16
17

Holding gains on assets stated
at current cost (3)
Residential equipment and software
Nonresidential equipment and software
Inventories

4.8
0.1
3.5
1.2

-3.3
0.8
-4.1
-0.0

-12.2
-0.9
-10.3
-0.9

1.6
-0.4
3.4
-1.5

12.5
-1.2
12.2
1.6

-82.9
0.4
-84.9
1.6

21.5
0.1
22.9
-1.5

14
15
16
17

18

Other factors (4)

3.9

3.0

5.5

6.6

7.2

1.9

1.6

18

2801.2

2957.8

3177.5

3400.8

3629.2

3886.4

3968.0

19

Memo:
19

Net worth outstanding (5)

(1) Sum of net investment (line 2), holding gains (lines 11 and 14), and other factors (line 18).
(2) Also equal to proprietor’s net investment shown on table F.103, line 29.
(3) Calculated as change in amount outstanding during period less net investment during period.
(4) Consists of statistical discontinuities.
(5) Table B.103, line 31.

100

FFA, 1995-2001, September 16, 2002

F.106.c Consolidated Statement for Federal, State, and Local Governments (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1995

1996

1997

1998

1999

2000

2001

Current receipts, NIPA basis
Personal tax and nontax receipts
Corporate profit tax accruals
Indirect business tax and nontax accruals
Contributions for social insurance

2117.1
778.4
211.0
594.6
533.2

2269.1
869.7
223.7
620.0
555.8

2440.0
968.8
237.2
646.2
587.8

2613.8
1070.5
238.9
681.3
623.3

2780.3
1159.1
247.8
713.0
660.4

3000.6
1286.4
259.4
753.6
701.3

2992.3
1292.1
199.3
774.8
726.1

1
2
3
4
5

6
7
8
9
10
11
12

Current expenditures, NIPA basis
Consumption expenditures
Transfer payments (net)
Net interest paid
- Dividends received by government
Subsidies less current surplus of govt. enterprises
- Wage accruals less disbursements

2293.8
1133.9
869.9
268.0
0.3
22.2
0.0

2384.6
1171.8
916.0
274.5
0.3
22.6
0.0

2462.4
1223.3
945.0
275.3
0.3
19.1
0.0

2529.3
1261.4
965.9
278.8
0.4
23.6
0.0

2630.0
1336.3
998.5
263.1
0.4
32.5
0.0

2775.8
1431.2
1050.8
260.1
0.4
34.1
0.0

2951.7
1522.2
1146.6
236.0
0.4
47.2
0.0

6
7
8
9
10
11
12

13
14
15
16

Current surplus or deficit (-), NIPA basis
+ Consumption of fixed capital
- Insurance and pension fund reserves (2)
+ Net capital transfers (3)

-176.6
168.2
3.6
19.6

-115.5
174.3
3.4
23.1

-22.4
181.0
3.4
26.8

84.6
187.7
4.4
32.4

150.3
197.9
3.8
32.4

224.8
210.9
1.8
35.9

40.6
222.5
3.3
35.4

13
14
15
16

17

= Gross saving and net capital transfers

7.5

78.5

182.0

300.2

376.6

469.8

295.3

17

18
19
20

Gross investment
Fixed investment
Access rights sales

47.6
238.2
-8.1

32.0
250.2
-4.8

127.7
264.7
-8.8

328.5
277.1
-4.1

403.8
304.7
-1.7

526.6
319.8
-0.6

257.7
335.9
-0.3

18
19
20

-182.4

-213.3

-128.2

55.4

100.9

207.4

-77.9

21

44.0

41.3

34.7

110.4

151.2

1.3

87.8

22

6.4
3.4
6.9
-3.0

-2.9
5.4
12.0
32.1

2.5
3.8
6.8
3.6

6.0
-20.6
14.1
7.2

-7.1
70.1
11.6
5.0

-0.6
-64.1
10.4
9.7

4.6
46.2
11.8
-18.4

23
24
25
26

-12.1
17.1
-35.1
-3.5
7.1
-10.2
12.6

-8.5
20.3
-35.3
-0.5
10.7
-3.4
-0.3

24.1
14.3
-0.8
-0.7
1.3
-0.9
10.9

116.8
28.0
63.6
-1.4
10.2
3.3
13.2

37.0
6.9
11.0
-1.5
10.1
4.2
6.2

38.2
7.6
13.5
0.6
3.7
3.7
9.2

23.5
-26.5
29.8
0.3
9.4
3.6
6.9

27
28
29
30
31
32
33

12.1
5.9

14.5
6.0

16.8
-7.4

9.4
-12.3

3.5
4.3

-1.2
0.8

22.8
5.1

34
35

-1.6
-13.3
39.2

0.9
-3.5
-14.8

-3.2
-5.7
-6.6

1.5
-0.1
-11.5

4.6
11.5
10.7

5.3
-4.5
7.2

7.2
-4.8
-10.3

36
37
38

226.5

254.6

162.9

55.0

50.4

-206.1

165.7

39

2.2
0.7

-0.5
0.5

-0.5
0.5

0.0
0.6

-3.0
1.0

-4.0
2.4

0.0
-0.0

40
41

1
2
3
4
5

21
22

Net financial investment
Net acquisition of financial assets

23
24
25
26

Gold, SDRs, and official foreign exchange
Checkable deposits and currency
Time and savings deposits
Security RPs

27
28
29
30
31
32
33

Credit market instruments
Open market paper
U.S. government agency securities (4)
Municipal securities
Corporate and foreign bonds
Mortgages
Other loans and advances (5)

34
35

Corporate equities
Mutual fund shares

36
37
38

Trade receivables
Taxes receivable
Miscellaneous assets

39

Net increase in liabilities

40
41

SDR certificates
Treasury currency

42
43
44
45
46
47

Credit market instruments
Savings bonds
Other Treasury securities (6)
Budget agency securities
Municipal securities
Multifamily residential mortgages

172.7
5.1
218.1
1.5
-51.9
0.0

170.6
2.0
177.3
-1.6
-7.2
-0.0

98.1
-0.5
41.4
-0.1
57.3
-0.0

-3.5
0.1
-84.7
2.0
79.1
0.0

-16.0
-0.2
-68.3
-0.2
52.7
0.0

-237.0
-1.7
-262.6
-1.0
28.2
0.0

77.1
5.6
-30.9
-0.5
103.0
0.0

42
43
44
45
46
47

48
49
50

Trade payables
Insurance and pension reserves (7)
Miscellaneous liabilities

24.6
21.8
4.5

31.6
55.7
-3.3

22.6
42.0
0.3

22.5
42.5
-7.1

28.8
42.5
-2.9

8.2
22.3
2.0

34.2
62.2
-7.8

48
49
50

-40.2

46.5

54.3

-28.2

-27.2

-56.8

37.6

51

-414.8
232.3
-182.4

-365.6
152.3
-213.3

-287.1
158.9
-128.2

-192.6
248.0
55.4

-154.5
255.3
100.9

-95.0
302.4
207.4

-295.2
217.3
-77.9

52
53
54

51

Discrepancy

52
53
54

Memo:
Current surplus less fixed investment (8)
Adjustment between NIPA and FOF (9)
Items to be financed (10)

(1) This table is consistent with NIPA table 3.1 in the Survey of Current Business, Department of Commerce.
(2) Railroad Retirement Board and federal government life insurance reserves. Saving transferred to the households and nonprofit organizations sector. Includes value of Treasury and
agency securities held by state and local government employee retirement funds.
(3) Table F.9, line 1.
(4) Holdings by state and local governments may include small amounts of agency securities issued by the federal government.
(5) Excludes loans to state and local governments.
(6) Excludes Treasury securities owed to state and local governments.
(7) Line 15 plus civil service retirement and disability fund, judicial retirement fund, military retirement fund, and foreign service retirement and disability fund.
(8) Line 13 less line 19
(9) Line 14 plus line 16 less sum of lines 15, 20, and 51.
(10) Line 52 plus line 53.

FFA, 1995-2001, September 16, 2002

101

L.106.c Consolidated Statement for Federal, State, and Local Governments
Billions of dollars; amounts outstanding end of period, not seasonally adjusted

1

1996

1997

1998

1999

2000

2001

1135.9

1181.5

1223.0

1343.8

1538.7

1557.6

1691.9

1

2
3
4
5

Gold, SDRs, and official foreign exchange
Checkable deposits and currency
Time and savings deposits
Security RPs

53.8
55.5
62.9
115.7

44.9
66.1
74.9
147.8

42.0
73.8
81.8
151.4

51.0
51.5
95.8
158.5

44.4
120.1
107.5
163.5

41.0
57.4
117.8
173.3

43.1
105.1
129.7
154.9

2
3
4
5

6

Credit market instruments

546.2

537.8

562.1

679.1

749.2

787.5

811.0

6

39.4
151.5
5.1
39.0
171.3
140.0

59.7
116.2
4.6
49.7
167.9
139.7

74.0
115.4
3.9
51.0
167.0
150.7

102.0
179.0
2.5
61.2
170.3
164.1

108.9
190.0
1.0
71.3
207.5
170.5

116.5
203.5
1.6
75.0
211.2
179.7

90.0
233.3
1.9
84.4
214.8
186.6

7
8
9
10
11
12

26.2
35.0

46.8
41.0

79.0
33.6

102.0
21.3

115.0
25.6

115.1
26.4

126.3
31.5

13
14

23.1
45.2
172.3

24.0
46.8
151.2

20.8
46.9
131.8

22.3
49.5
112.7

22.9
72.0
118.5

28.1
87.9
123.0

35.4
129.9
125.0

15
16
17

5546.6

5805.1

5967.1

6029.3

6082.4

5874.1

6047.4

18

10.2
18.3

9.7
18.9

9.2
19.3

9.2
19.9

6.2
20.9

2.2
23.2

2.2
23.2

19
20

4407.4
185.0
3133.7
28.2
1060.4
0.0

4578.0
187.0
3311.1
26.6
1053.3
0.0

4676.0
186.5
3352.5
26.5
1110.6
0.0

4672.6
186.6
3267.8
28.5
1189.7
0.0

4656.6
186.4
3199.4
28.3
1242.4
0.0

4419.5
184.8
2936.9
27.3
1270.6
0.0

4496.6
190.3
2905.9
26.8
1373.6
0.0

21
22
23
24
25
26

567.8
536.2
6.7

599.3
591.9
7.3

621.9
634.0
6.6

644.4
676.5
6.7

673.2
719.0
6.6

681.4
741.3
6.4

715.7
803.6
6.2

27
28
29

7
8
9
10
11
12

Total financial assets

1995

Open market paper
Agency securities (1)
Municipal securities
Corporate and foreign bonds
Mortgages
Other loans and advances (2)

13
14

Corporate equities
Mutual fund shares

15
16
17

Trade receivables
Taxes receivable
Miscellaneous assets

18

Total liabilities

19
20

SDR certificates
Treasury currency

21
22
23
24
25
26

Credit market instruments
Savings bonds
Other Treasury securities (3)
Budget agency securities
Municipal securities
Multifamily residential mortgages

27
28
29

Trade payables
Insurance and pension reserves
Miscellaneous liabilities

(1) Holdings by state and local governments may include small amounts of agency securities issued by the federal government.
(2) Excludes loans to state and local governments.
(3) Excludes Treasury securities owed to state and local governments.

102

FFA, 1995-2001, September 16, 2002

F.119.b Private Pension Funds: Defined Benefit Plans
Billions of dollars
1995

1996

1997

1998

1999

2000

2001

1

Net acquisition of financial assets

-27.2

-40.6

-47.0

-49.3

-56.7

-51.3

-47.6

1

2
3
4
5

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

0.3
4.8
0.0
-0.2

0.2
10.8
0.0
3.2

0.4
13.3
0.0
0.3

0.6
15.1
0.0
0.6

0.6
4.7
0.0
0.6

0.2
3.2
0.0
1.3

-0.5
-3.2
0.0
0.5

2
3
4
5

6

Credit market instruments

24.1

-8.9

39.7

-20.1

10.8

13.7

-2.6

6

7
8
9
10

Open market paper
U.S. government securities
Treasury
Agency

-0.2
6.7
2.0
4.7

3.2
-15.4
-4.6
-10.8

0.3
12.3
3.7
8.6

0.6
-36.9
-20.2
-16.7

0.6
5.0
-3.3
8.4

1.3
6.1
-0.9
7.0

-2.0
-0.3
-2.5
2.1

7
8
9
10

11
12

Corporate and foreign bonds
Mortgages

17.4
0.2

3.1
0.1

26.5
0.6

16.4
-0.3

5.0
0.1

6.0
0.2

-0.3
0.0

11
12

-51.1
1.9

-55.3
-2.2

-100.9
1.3

-54.6
3.3

-66.8
2.4

-71.1
-0.3

-37.8
-2.0

13
14

-6.9
-6.0
-0.3
-0.6

11.7
2.3
-0.3
9.7

-1.2
-5.6
3.5
0.9

5.9
-3.8
8.0
1.8

-9.0
-3.6
-6.0
0.6

1.8
-4.7
0.0
6.5

-1.9
-2.2
0.0
0.3

15
16
17
18

13
14

Corporate equities
Mutual fund shares

15
16
17
18

Miscellaneous assets
Unallocated insurance contracts (1)
Contributions receivable
Other

(1) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

F.119.c Private Pension Funds: Defined Contribution Plans (1)
Billions of dollars
1

Net acquisition of financial assets

59.4

45.2

35.7

40.1

44.8

41.7

30.0

1

2
3
4
5

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

0.4
-0.2
6.0
0.2

0.4
-5.5
10.8
1.3

0.8
-5.8
13.1
0.6

-1.5
13.3
1.9
0.6

0.4
-7.7
11.7
-0.8

0.2
-0.3
4.6
-0.4

-0.4
7.4
-10.6
0.3

2
3
4
5

6

Credit market instruments

-4.2

4.8

7.9

-3.3

6.3

19.7

22.9

6

7
8
9
10

Open market paper
U.S. government securities
Treasury
Agency

0.7
-1.5
0.6
-2.0

2.4
2.1
1.9
0.2

0.9
-0.5
0.4
-0.9

2.5
-10.8
-10.9
0.1

2.6
6.3
0.7
5.6

-3.1
9.0
-0.5
9.5

3.7
7.8
-1.7
9.5

7
8
9
10

11
12

Corporate and foreign bonds
Mortgages

-3.9
0.5

-0.2
0.5

7.4
0.1

5.1
-0.0

-3.4
0.8

12.8
1.0

10.1
1.3

11
12

-18.4
43.1

-16.2
25.3

-36.9
41.4

28.0
-6.8

37.7
-0.8

21.2
1.5

4.5
-1.8

13
14

32.6
23.7
4.4
4.5

24.2
12.2
4.3
7.7

14.7
4.6
3.6
6.5

7.8
-11.0
13.4
5.5

-2.0
-4.0
1.2
0.8

-4.8
-7.0
1.2
1.0

7.7
4.7
1.3
1.8

15
16
17
18

13
14

Corporate equities
Mutual fund shares

15
16
17
18

Miscellaneous assets
Unallocated insurance contracts (2)
Contributions receivable
Other

(1) Includes 401(k) type plans and the Federal Employees Retirement System Thrift Savings Plan.
(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

F.225.i Individual Retirement Accounts (IRAs) (1)
Billions of dollars
1
2
3
4
5
6
7
8

Total held at:
Commercial banking
Saving institutions
Credit unions
Life insurance companies
Money market mutual funds
Mutual funds
Other self-directed accounts

58.5

52.8

68.5

91.7

110.0

114.1

122.1

1

6.5
-1.9
1.2
11.2
13.9
64.3
-36.6

0.7
-3.9
0.9
10.3
13.8
50.0
-19.0

0.1
-6.0
1.2
47.5
4.0
88.1
-66.4

-0.5
-5.3
0.3
24.6
23.0
90.2
-40.7

-3.4
-3.1
0.9
40.8
21.0
90.6
-36.8

8.9
-2.3
0.4
19.5
4.0
49.8
33.8

3.1
-1.8
3.2
9.0
20.0
33.4
55.1

2
3
4
5
6
7
8

(1) Assets of the household sector (F.100). IRA assets are not included in pension fund reserves (table F.225), except for those at life insurance companies. Figures for depositories (lines 2 through 4)
include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 5) and are excluded from the mutual fund sector (line 7).

FFA, 1995-2001, September 16, 2002

103

L.119.b Private Pension Funds: Defined Benefit Plans
Billions of dollars; amounts outstanding end of period, not seasonally adjusted

1

Total financial assets

2
3
4
5

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

6

Credit market instruments

1995

1996

1997

1998

1999

2000

2001

1460.5

1579.0

1746.8

1885.4

2101.9

2004.0

1818.1

1

2.1
71.9
0.0
11.4

2.2
82.7
0.0
14.6

2.6
96.0
0.0
14.9

3.2
111.1
0.0
15.5

3.8
115.8
0.0
16.2

4.0
119.0
0.0
17.5

3.5
115.8
0.0
18.0

2
3
4
5

462.4

453.5

493.1

473.0

483.8

497.4

494.8

6

7
8
9
10

Open market paper
U.S. government securities
Treasury
Agency

11.4
267.3
80.2
187.1

14.6
252.0
75.6
176.4

14.9
264.2
79.3
185.0

15.5
227.4
59.1
168.3

16.2
232.4
55.8
176.6

17.5
238.5
54.9
183.7

15.5
238.2
52.4
185.8

7
8
9
10

11
12

Corporate and foreign bonds
Mortgages

178.8
4.9

181.9
5.0

208.4
5.6

224.8
5.3

229.8
5.4

235.9
5.6

235.5
5.6

11
12

13
14

Corporate equities
Mutual fund shares

699.6
54.8

785.8
63.8

876.0
81.4

986.6
101.0

1157.3
129.0

1046.0
123.7

889.0
107.6

13
14

15
16
17
18

Miscellaneous assets
Unallocated insurance contracts (1)
Contributions receivable
Other

158.3
80.3
43.9
34.2

176.4
88.9
43.6
43.9

182.6
90.7
47.1
44.8

194.9
93.3
55.1
46.6

196.2
99.9
49.1
47.2

196.4
93.6
49.1
53.7

189.4
86.3
49.1
54.0

15
16
17
18

(1) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

L.119.c Private Pension Funds: Defined Contribution Plans (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

Total financial assets

2
3
4
5

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

6

Credit market instruments

1462.9

1672.1

1999.8

2292.4

2528.5

2511.4

2353.6

1

2.7
34.7
37.5
10.7

3.1
29.3
48.4
12.1

4.0
23.4
61.4
12.7

2.5
36.7
63.4
13.2

2.9
28.9
75.1
12.5

3.0
28.7
79.6
12.1

2.6
36.0
69.0
12.4

2
3
4
5

168.8

173.6

181.5

178.2

184.5

204.2

227.1

6

7
8
9
10

Open market paper
U.S. government securities
Treasury
Agency

13.0
89.0
62.0
27.1

15.4
91.1
63.8
27.3

16.3
90.7
64.3
26.4

18.8
79.9
53.4
26.5

21.3
86.1
54.0
32.1

18.3
95.1
53.6
41.6

22.0
102.9
51.8
51.1

7
8
9
10

11
12

Corporate and foreign bonds
Mortgages

63.2
3.6

63.0
4.0

70.4
4.1

75.5
4.1

72.1
4.9

84.9
5.9

95.0
7.2

11
12

13
14

Corporate equities
Mutual fund shares

589.6
272.0

678.1
348.5

820.4
488.2

1004.1
567.1

1168.5
624.8

1149.1
609.9

1036.7
543.9

13
14

15
16
17
18

Miscellaneous assets
Unallocated insurance contracts (2)
Contributions receivable
Other

346.8
252.0
38.5
56.4

379.1
272.2
42.8
64.1

408.3
291.3
46.4
70.6

427.2
291.3
59.8
76.1

431.5
293.5
61.0
76.9

424.9
284.8
62.2
77.9

425.9
282.7
63.5
79.7

15
16
17
18

(1) Includes 401(k) type plans and the Federal Employees Retirement System Thrift Savings Plan.
(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

L.225.i Individual Retirement Accounts (IRAs) (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1
2
3
4
5
6
7
8

Total held at:
Commercial banking
Saving institutions
Credit unions
Life insurance companies
Money market mutual funds
Mutual funds
Other self-directed accounts

1288.0

1467.0

1728.0

2150.0

2542.0

2507.0

2399.0

1

151.1
76.9
33.0
94.3
75.2
387.3
470.2

151.9
73.0
33.8
110.3
89.0
490.0
518.9

152.0
67.0
35.0
160.0
93.0
658.0
563.0

151.5
61.8
35.3
190.1
116.0
824.0
771.3

148.1
58.7
36.2
245.5
137.0
1082.0
834.5

157.0
56.4
36.7
245.5
141.0
1051.0
819.4

160.1
54.6
39.9
247.1
161.0
966.0
770.2

2
3
4
5
6
7
8

(1) Assets of the household sector (L.100), shown at market value. IRA assets are not included in pension fund reserves (table L.225), except for those at life insurance companies. Figures for depositories
(lines 2 through 4) include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 5) and are excluded from the mutual fund sector (line 7).

104

FFA, 1995-2001, September 16, 2002

B.100.e Balance Sheet of Households and Nonprofit Organizations with Equity Detail (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted

1

Assets

1995

1996

1997

1998

1999

2000

2001

32663.6

35539.8

39675.0

43652.9

49270.4

49482.7

49132.4

1

2

Tangible assets

11046.3

11493.0

12143.3

13110.7

14181.4

15529.3

16730.6

2

3

Financial assets

21617.3

24046.9

27531.7

30542.2

35089.0

33953.4

32401.8

3

4
5

Deposits
Credit market instruments

3298.0
1963.4

3440.7
2172.0

3622.2
2188.5

3927.4
2303.7

4053.0
2619.9

4439.7
2479.6

4827.6
2370.0

4
5

6

Equity shares at market value

7600.6

9173.2

11800.3

13736.1

17262.7

15263.5

12989.9

6

7

Directly held

4139.0

4880.0

6269.1

7098.3

9122.7

7484.5

6076.6

7

8

Indirectly held

3461.6

4293.2

5531.2

6637.8

8140.1

7778.9

6913.3

8

365.2
274.7
1501.8
729.9
771.9
678.9
641.1

432.9
373.3
1720.0
825.9
894.1
828.5
938.5

541.7
510.5
2083.4
931.0
1152.4
1084.8
1310.9

585.1
665.4
2487.7
1056.7
1431.0
1233.9
1665.6

681.0
904.4
2896.5
1253.2
1643.3
1343.2
2315.0

561.6
882.8
2748.6
1136.0
1612.6
1335.1
2250.8

445.4
806.5
2412.9
962.8
1450.1
1221.9
2026.7

9
10
11
12
13
14
15

9
10
11
12
13
14
15

Bank personal trusts and estates
Life insurance companies
Private pension funds
Defined benefit plans
Defined contribution plans
State and local govt. retirement funds
Mutual funds

16

Other

8755.3

9261.0

9920.7

10574.9

11153.3

11770.7

12214.3

16

17

Liabilities

5081.3

5445.8

5824.8

6308.5

6888.3

7463.5

8040.6

17

18

Net worth

27582.3

30094.1

33850.2

37344.4

42382.1

42019.3

41091.8

18

6191.8

7518.8

9784.6

11445.5

14666.4

12792.3

10805.2

19

23.3
35.2

25.8
38.1

29.7
42.9

31.5
45.0

35.0
49.2

30.8
45.0

26.4
40.1

20
21

Memo:
19

20
21

Equity shares excluding defined benefit plans
(line 6 minus lines 12 and 14)
Equity shares (line 6) as a percent of
Total assets (line 1)
Financial assets (line 3)

(1) Estimates of equity shares (lines 7 through 15) could differ from other sources owing to alternative definitions of ownership of equity by households.
Prior to 1985, all pension assets are assumed to have been in defined benefit plans.