108

Z.1, December 6, 2007

F.100.a Nonprofit Organizations (1)
Billions of dollars
1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

1

Net financial investment

53.5

42.1

21.7

8.8

23.3

11.1

52.5

48.5

83.6

9.2

1.5

-6.0

39.6

1

2

Net acquisition of financial assets

70.9

75.8

53.8

46.4

53.0

45.2

76.5

84.9

120.0

47.4

55.0

28.8

108.1

2

3
4
5
6

Checkable deposits and currency
Time and savings deposits
Money market fund shares
Security RPs (2)

0.5
-0.2
-13.1
0.4

-1.0
5.4
4.9
3.1

1.3
-6.2
-1.2
-2.2

4.0
10.4
32.9
-1.3

1.2
-2.4
4.0
6.0

1.7
-1.5
-13.8
0.5

-2.5
0.2
1.1
0.2

2.3
0.2
1.2
0.2

8.3
1.1
9.4
1.4

2.9
0.3
-1.8
0.0

3.1
1.1
7.1
1.3

2.3
0.6
3.8
0.7

5.1
0.8
4.5
0.8

3
4
5
6

7

Credit market instruments

54.9

21.9

22.2

-17.6

10.9

25.5

16.6

38.8

36.7

23.1

36.4

46.7

32.6

7

38.2
6.4
4.5
0.0
6.6
-0.8

-5.7
13.8
2.6
0.5
9.7
0.9

5.8
4.8
4.6
-0.5
8.2
-0.7

-35.2
6.1
3.6
0.0
7.9
-0.1

-5.8
6.8
3.1
0.2
5.6
0.9

12.4
5.1
2.3
0.3
4.5
0.9

4.7
6.4
2.9
0.4
2.4
-0.1

2.0
16.4
7.6
0.1
11.9
0.9

4.1
13.9
6.4
0.0
11.7
0.6

1.3
8.9
4.1
-0.1
8.3
0.6

3.0
11.6
5.4
0.1
15.4
0.9

4.7
17.5
8.1
0.1
15.4
0.8

12.4
5.4
2.5
0.0
10.5
1.7

8
9
10
11
12
13

5.2
-1.0

16.1
2.6

15.0
1.2

-18.6
-3.3

18.6
0.7

8.9
-0.7

45.1
1.5

-10.4
1.3

21.0
2.4

-30.6
-1.0

-40.7
0.4

-67.4
-3.3

15.4
-1.0

14
15

2.8
2.8

2.8
2.8

2.6
2.6

2.0
2.0

1.1
1.1

0.8
1.8

2.0
2.1

1.5
1.6

3.4
3.5

3.7
2.6

4.6
4.6

1.1
1.1

4.3
4.3

16
17

-0.1
18.6

-3.9
21.0

-6.0
24.5

15.2
20.5

10.6
1.2

7.0
15.0

0.2
10.1

10.2
38.0

8.4
24.4

9.7
38.3

12.5
24.7

12.0
31.2

16.3
25.0

18
19

17.3

33.6

32.1

37.6

29.7

34.1

24.0

36.4

36.3

38.2

53.5

34.7

68.5

20

7.5

11.7

11.8

14.3

10.0

13.8

2.4

-0.6

11.0

10.6

23.4

13.5

19.3

21

8
9
10
11
12
13

Open market paper
Treasury securities
Agency- and GSE-backed securities
Municipal securities
Corporate and foreign bonds
Mortgages

14
15

Corporate equities
Mutual fund shares

16
17

Security credit
Trade receivables (2)

18
19

Equity in noncorporate business
Miscellaneous assets (2)

20
21

Net increase in liabilities
Credit market instruments

22
23
24
25

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

1.5
0.2
-0.0
5.8

3.2
-5.2
-0.0
13.8

3.0
-1.1
0.3
9.7

3.8
-2.8
0.4
12.9

2.4
2.4
-0.2
5.4

1.1
5.0
0.1
7.7

3.2
6.4
0.1
-7.4

0.2
8.9
-0.1
-9.6

6.1
0.2
0.0
4.7

7.1
4.8
-0.2
-1.2

11.8
1.2
-0.1
10.5

10.4
-6.8
0.1
9.8

5.8
-0.2
-0.3
14.0

22
23
24
25

26
27

Trade payables
Miscellaneous liabilities (2)

2.4
7.4

16.2
5.8

9.3
10.9

9.4
13.8

5.9
13.8

6.0
14.3

5.2
16.5

7.9
29.1

8.0
17.3

8.9
18.7

8.7
21.4

4.1
17.0

3.8
45.4

26
27

(1) Does not include religious organizations or organizations with less than $25,000 in gross annual receipts.
(2) Not included in table F.100.

109

Z.1, December 6, 2007

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

1

Total financial assets

2
3
4
5

Checkable deposits and currency
Time and savings deposits
Money market fund shares
Security RPs (2)

6

Credit market instruments

7
8
9
10
11
12

Open market paper
Treasury securities
Agency- and GSE-backed securities
Municipal securities
Corporate and foreign bonds
Mortgages

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

590.7

710.5

742.1

828.1

890.2

957.1

1025.5

1214.0

1414.1

1607.3

1793.9

1974.7

2003.8

1

17.0
1.5
15.9
1.7

15.9
6.8
20.8
4.8

17.3
0.6
19.6
2.5

21.3
11.1
52.5
1.3

22.5
8.7
56.5
7.3

24.1
7.1
42.7
7.8

21.6
7.3
43.8
8.0

23.9
7.5
45.1
8.2

32.1
8.6
54.5
9.6

35.0
8.9
52.7
9.6

38.1
10.0
59.8
10.9

40.4
10.6
63.6
11.6

45.5
11.4
68.1
12.5

2
3
4
5

229.3

251.2

273.4

255.9

266.8

292.3

308.9

347.7

384.4

407.6

443.9

490.6

523.2

6

93.6
55.7
26.3
0.1
51.1
2.6

87.9
69.5
28.9
0.6
60.8
3.5

93.7
74.3
33.5
0.1
69.0
2.8

58.5
80.3
37.1
0.2
77.0
2.8

52.7
87.1
40.3
0.4
82.6
3.7

65.0
92.2
42.6
0.8
87.1
4.6

69.7
98.5
45.5
1.1
89.5
4.5

71.7
114.9
53.1
1.2
101.4
5.3

75.8
128.8
59.5
1.3
113.1
6.0

77.1
137.6
63.6
1.2
121.4
6.6

80.2
149.2
69.0
1.3
136.8
7.4

84.9
166.8
77.1
1.5
152.2
8.3

97.3
172.2
79.6
1.5
162.6
10.0

7
8
9
10
11
12

145.8
10.2

203.0
15.8

197.5
15.3

214.6
15.9

241.1
17.7

270.2
18.5

308.2
19.0

397.1
24.6

494.7
30.4

604.9
34.5

692.0
38.7

769.3
42.7

708.6
38.8

13
14

13
14

Corporate equities
Mutual fund shares

15
16

Security credit
Trade receivables (2)

25.7
25.7

28.5
28.5

31.1
31.1

33.1
33.1

34.3
34.3

35.0
36.1

37.1
38.1

38.6
39.7

42.0
43.2

45.8
45.8

50.3
50.3

51.5
51.5

55.8
55.8

15
16

17
18

Equity in noncorporate business
Miscellaneous assets (2)

26.1
92.0

22.2
112.9

16.2
137.4

31.4
158.0

42.0
159.2

49.0
174.2

49.2
184.3

59.4
222.2

67.8
246.7

77.5
285.0

90.0
309.7

102.0
340.9

118.3
365.9

17
18

253.8

287.5

319.5

357.1

386.8

421.0

444.9

481.4

517.7

555.8

609.3

644.1

712.5

19

154.4

166.1

177.9

192.3

202.3

216.1

218.5

217.9

228.9

239.5

262.9

276.4

295.7

20

19
20

Liabilities
Credit market instruments

21
22
23
24

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

79.6
15.5
0.3
59.0

82.7
10.3
0.3
72.8

85.7
9.2
0.5
82.5

89.5
6.4
0.9
95.5

91.9
8.8
0.7
100.9

93.0
13.8
0.8
108.5

96.1
19.9
0.9
101.5

96.4
28.8
0.8
91.9

102.4
29.0
0.9
96.6

109.6
34.1
0.7
95.1

121.3
35.3
0.6
105.6

131.7
31.4
0.7
112.5

137.5
31.2
0.4
126.6

21
22
23
24

25
26

Trade payables
Miscellaneous liabilities (2)

41.3
58.2

57.4
63.9

66.8
74.8

76.2
88.6

82.1
102.5

88.1
116.8

93.2
133.3

101.1
162.4

109.1
179.7

118.0
198.4

126.8
219.7

130.9
236.8

134.7
282.1

25
26

(1) Does not include religious organizations or organizations with less than $25,000 in gross annual receipts.
(2) Not included in table L.100.

110

Z.1, December 6, 2007

F.106.c Consolidated Statement for Federal, State, and Local Governments (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
2003

1
2
3
4
5
6
7
8
9

2004

2005

2006
Q1

Q2

2006
Q3

Q4

Q1

2007
Q2

Q3

Current receipts, NIPA basis
Personal current taxes
Taxes on production and imports
Taxes on corporate income
Taxes from the rest of the world
Contributions for govt. social insurance
Income receipts on assets
Current transfer receipts
Current surplus of government enterprises

3035.6
1001.1
807.2
233.1
8.9
778.6
95.8
109.2
1.7

3254.1
1046.3
863.8
293.3
10.0
828.8
99.1
117.0
-4.2

3589.1
1209.1
921.6
376.5
11.5
874.8
105.6
105.2
-15.1

3934.8
1354.3
967.3
435.5
12.6
927.6
111.9
139.5
-13.9

3849.7
1318.6
953.3
415.9
10.2
918.8
109.7
134.9
-11.7

3916.9
1342.6
965.9
441.8
10.6
920.1
111.5
137.9
-13.4

3955.6
1355.2
971.2
451.9
11.4
926.8
112.6
140.9
-14.5

4017.3
1401.0
978.9
432.5
18.3
944.6
113.7
144.3
-16.0

4102.3
1454.7
990.8
432.1
12.0
969.8
112.9
147.6
-17.8

4183.9
1477.6
1004.1
468.6
12.0
972.2
114.0
150.3
-15.0

4206.7
1490.4
1018.4
447.8
12.6
981.4
114.8
153.5
-12.2

1
2
3
4
5
6
7
8
9

10
11
12
13
14
15
16

Current expenditures, NIPA basis
Consumption expenditures
Government social benefits
Other current transfer payments
Interest payments
Subsidies
- Wage accruals less disbursements

3428.1
1736.5
1319.5
23.6
300.6
47.9
0.0

3623.2
1844.0
1399.1
26.2
309.3
44.6
0.0

3892.2
1965.7
1486.2
35.5
346.2
58.5
0.0

4130.3
2089.3
1588.7
29.6
372.9
49.7
0.0

4033.7
2052.3
1550.1
25.2
352.8
53.2
0.0

4113.9
2076.7
1576.6
31.4
379.6
49.7
0.0

4182.5
2101.0
1606.5
33.5
393.1
48.3
0.0

4191.1
2127.2
1621.5
28.5
366.2
47.8
0.0

4326.6
2156.5
1686.6
43.0
393.5
47.0
0.0

4377.2
2205.7
1693.0
23.3
407.9
47.3
0.0

4443.6
2241.5
1718.1
28.4
408.7
46.8
0.0

10
11
12
13
14
15
16

17
18
19
20

Net government saving, NIPA basis
+ Consumption of fixed capital
- Insurance and pension fund reserves (2)
+ Net capital transfers (3)

-392.5
218.2
-0.6
11.2

-369.1
230.2
0.0
13.6

-303.1
252.4
0.7
12.1

-195.4
267.7
0.1
14.6

-184.0
260.1
1.3
12.8

-197.0
265.6
-0.3
14.3

-226.9
270.1
-1.5
15.4

-173.9
275.1
0.9
15.8

-224.3
281.3
1.1
0.5

-193.4
286.0
0.0
7.1

-236.8
289.9
-1.9
3.5

17
18
19
20

21

= Gross saving and net capital transfers

-162.5

-125.3

-39.3

86.7

87.5

83.1

60.1

116.1

56.3

99.7

58.5

21

22
23
24

Gross investment
Fixed investment
Nonproduced nonfinancial assets

-179.7
356.0
10.7

-85.3
372.8
10.6

-5.2
397.8
10.1

92.8
433.8
-2.1

-50.3
419.8
11.3

307.5
435.9
8.9

99.2
435.1
12.1

14.9
444.2
-40.7

-22.6
451.8
10.0

368.6
464.3
9.0

52.9
474.8
13.6

22
23
24

25
26
27
28
29
30
31

Net financial investment
Net acquisition of financial assets
Gold, SDRs, and official foreign exchange
Checkable deposits and currency
Time and savings deposits
Money market fund shares
Security RPs

-546.3
103.7
-1.8
16.2
-4.9
4.0
7.9

-468.7
89.9
-3.1
-37.8
11.6
3.9
7.7

-413.1
119.9
-14.4
21.7
11.8
4.1
8.1

-338.8
73.0
-2.7
2.5
26.5
5.1
7.1

-481.4
69.3
-2.3
-43.2
13.9
5.0
9.8

-137.3
148.3
1.9
75.4
24.7
4.5
8.8

-347.9
60.5
-4.5
20.2
43.4
5.4
10.7

-388.6
13.8
-6.1
-42.3
23.8
5.5
-1.1

-484.4
53.3
-0.2
-58.1
20.8
3.0
5.8

-104.7
108.4
-0.6
-18.9
21.3
5.8
11.4

-435.5
305.1
-0.4
200.2
43.0
11.5
-3.6

25
26
27
28
29
30
31

32
33
34
35
36
37
38
39
40
41
42
43
44

Credit market instruments
Open market paper
Agency- and GSE-backed securities (4)
Municipal securities
Corporate and foreign bonds
Mortgages
Consumer credit
Other loans and advances (5)
Corporate equities
Mutual fund shares
Trade receivables
Taxes receivable
Miscellaneous assets

46.4
10.3
22.5
0.3
7.1
6.0
1.9
-1.7
-17.0
-5.2
27.2
41.6
-10.6

50.0
10.1
21.9
0.3
6.9
9.9
3.7
-2.8
-4.2
-1.3
18.4
48.7
-4.0

46.9
10.6
23.1
0.3
7.3
11.1
3.7
-9.3
1.2
0.4
17.4
45.1
-22.4

53.4
13.2
20.6
0.4
8.1
11.5
1.9
-2.2
-6.4
-2.0
10.7
18.6
-39.8

54.2
12.9
16.0
0.3
4.9
12.3
12.6
-4.8
-12.7
-3.9
1.3
67.7
-20.6

64.8
11.6
25.1
0.3
8.0
16.4
7.6
-4.1
15.0
4.6
13.7
3.4
-68.5

45.0
13.9
30.3
0.4
9.6
9.1
-14.8
-3.5
-8.0
-2.4
14.5
-2.1
-61.7

49.6
14.3
11.1
0.4
9.8
8.3
2.0
3.7
-19.9
-6.1
13.4
5.5
-8.6

55.6
7.6
16.6
0.2
5.3
9.5
12.8
3.5
-0.5
-0.2
1.6
62.7
-37.3

83.3
14.9
32.4
0.4
10.3
15.5
7.6
2.2
-15.3
-4.7
10.6
35.9
-20.4

35.0
-25.0
48.7
0.3
11.6
0.9
-4.3
2.8
1.5
0.5
15.0
52.6
-50.1

32
33
34
35
36
37
38
39
40
41
42
43
44

650.0
0.0
0.6
506.5
8.9
380.0
-2.4
120.0
0.0
101.6
1.1
40.3

558.6
0.0
0.7
452.1
0.6
337.0
-0.6
115.1
0.0
45.5
1.1
59.2

533.0
0.0
0.8
403.9
0.7
232.6
-0.4
171.1
0.0
64.4
1.1
62.8

411.8
0.0
0.6
299.3
-2.7
151.9
-0.3
150.5
0.0
48.3
1.5
62.1

550.7
0.0
0.6
466.0
3.4
361.4
-1.0
102.1
0.0
43.5
0.3
40.3

285.6
0.0
0.8
162.5
-2.1
28.7
0.2
135.7
0.0
60.0
2.2
60.2

408.5
0.0
1.0
296.4
-4.9
155.7
-1.0
146.6
0.0
44.3
0.5
66.2

402.3
0.0
-0.0
272.4
-7.4
61.7
0.5
217.6
0.0
45.4
2.9
81.7

537.7
0.0
0.4
440.2
-8.3
226.8
-1.3
223.0
0.0
59.5
-0.1
37.7

213.2
0.0
1.3
66.9
-5.8
-139.4
-0.1
212.2
0.0
50.2
2.3
92.5

740.6
0.0
1.4
609.1
-4.5
437.1
-0.8
177.4
0.0
43.5
-0.0
86.7

45
46
47
48
49
50
51
52
53
54
55
56

17.2

-40.0

-34.1

-6.1

137.8

-224.3

-39.1

101.1

78.9

-268.9

5.6

57

-748.4
212.4
-536.1

-741.9
272.7
-469.2

-700.8
286.8
-414.0

-629.2
289.3
-339.9

-603.8
120.7
-483.2

-632.9
494.6
-138.3

-662.0
313.7
-348.3

-618.1
228.1
-390.0

-676.2
190.0
-486.1

-657.6
551.8
-105.9

-711.6
274.8
-436.8

58
59
60

45
46
47
48
49
50
51
52
53
54
55
56

Net increase in liabilities
SDR certificates
Treasury currency
Credit market instruments
Savings bonds
Other Treasury securities (6)
Budget agency securities
Municipal securities
Multifamily residential mortgages
Trade payables
Insurance reserves
Miscellaneous liabilities (7)

57

Discrepancy

58
59
60

Memo:
Net govt. saving 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, the National Railroad Retirement Investment Trust, and federal government life insurance reserves. Saving transferred to the households and nonprofit organizations sector.
Includes value of Treasury and agency- and GSE-backed 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 budget 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) Includes nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military
retirement fund, and foreign service retirement and disability fund.
(8) Line 17 less line 23.
(9) Line 18 plus line 20 less sum of lines 19, 24, and 56.
(10) Line 57 plus line 58.

111

Z.1, December 6, 2007

L.106.c Consolidated Statement for Federal, State, and Local Governments
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
2003

1

Total financial assets

2
3
4
5
6

Gold, SDRs, and official foreign exchange
Checkable deposits and currency
Time and savings deposits
Money market fund shares
Security RPs

7

Credit market instruments

8
9
10
11
12
13
14

Open market paper
Agency- and GSE-backed securities (1)
Municipal securities
Corporate and foreign bonds
Mortgages
Consumer credit
Other loans and advances (2)

15
16

Corporate equities
Mutual fund shares

17
18
19

Trade receivables
Taxes receivable
Miscellaneous assets

20

Total liabilities

21
22

SDR certificates
Treasury currency

23
24
25
26
27
28

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

29
30
31

Trade payables
Insurance reserves
Miscellaneous liabilities (4)

2004

2005

2006
Q1

Q2

2006
Q3

Q4

Q1

2007
Q2

Q3

2175.6

2232.8

2339.7

2475.7

2350.7

2422.5

2474.6

2475.7

2473.1

2523.5

2615.6

1

55.1
102.6
161.4
62.7
123.5

54.5
63.5
173.0
66.6
131.2

35.3
87.9
184.8
70.7
139.3

34.5
89.3
211.2
75.9
146.3

35.1
59.3
187.9
72.0
141.7

36.8
96.3
190.5
73.1
143.9

35.3
100.8
202.3
74.5
146.6

34.5
89.3
211.2
75.9
146.3

34.7
56.5
215.8
76.6
147.8

34.4
70.9
217.1
78.0
150.6

36.0
118.6
229.3
80.9
149.7

2
3
4
5
6

1025.6

1075.6

1122.5

1176.0

1136.3

1150.1

1165.9

1176.0

1190.1

1208.6

1221.8

7

161.6
351.2
4.4
111.3
206.7
82.4
108.0

171.7
373.2
4.7
118.2
216.6
86.1
105.2

182.4
396.3
4.9
125.6
227.7
89.8
95.9

195.5
416.9
5.3
133.6
239.2
91.7
93.7

185.6
400.3
5.0
126.8
230.8
93.2
94.7

188.5
406.5
5.1
128.8
234.9
92.7
93.7

191.9
414.1
5.2
131.2
237.2
93.5
92.8

195.5
416.9
5.3
133.6
239.2
91.7
93.7

197.4
421.0
5.3
134.9
241.6
95.1
94.6

201.2
429.1
5.5
137.5
245.5
94.6
95.2

194.9
441.3
5.5
140.4
245.7
98.0
95.9

8
9
10
11
12
13
14

84.7
25.9

90.0
27.5

95.5
29.2

102.4
31.3

97.2
29.8

98.7
30.2

100.6
30.8

102.4
31.3

103.4
31.7

105.4
32.3

106.8
32.7

15
16

177.8
171.1
185.2

196.2
171.9
182.8

213.6
200.3
160.4

224.3
264.0
120.5

214.6
218.5
158.3

219.2
237.5
146.1

220.8
264.4
132.8

224.3
264.0
120.5

225.1
276.6
114.9

229.2
281.6
115.3

230.7
304.6
104.5

17
18
19

6709.7

7267.0

7781.8

8187.8

7965.1

7947.6

8044.3

8187.8

8376.8

8331.3

8511.3

20

2.2
26.0

2.2
26.7

2.2
27.5

2.2
28.1

2.2
27.6

2.2
27.8

2.2
28.1

2.2
28.1

2.2
28.2

2.2
28.5

2.2
28.8

21
22

5226.8
203.8
3440.2
24.9
1557.9
0.0

5678.8
204.4
3777.2
24.3
1673.0
0.0

6082.8
205.1
4009.8
23.8
1844.1
0.0

6382.1
202.4
4161.6
23.5
1994.6
0.0

6262.2
205.9
4162.8
23.6
1870.0
0.0

6217.8
205.2
4077.7
23.6
1911.3
0.0

6282.9
203.6
4121.4
23.4
1934.6
0.0

6382.1
202.4
4161.6
23.5
1994.6
0.0

6563.8
200.3
4289.4
23.2
2050.9
0.0

6487.6
198.6
4156.2
23.2
2109.7
0.0

6628.8
197.1
4267.1
23.0
2141.7
0.0

23
24
25
26
27
28

570.6
40.5
843.6

616.1
41.6
901.6

680.6
42.7
946.1

728.8
44.2
1002.4

693.3
42.8
937.0

710.1
43.3
946.4

721.4
43.5
966.3

728.8
44.2
1002.4

745.5
44.2
993.0

760.0
44.7
1008.3

771.0
44.7
1035.7

29
30
31

(1) Holdings by state and local governments may include small amounts of budget 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.
(4) Includes nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military
retirement fund, and foreign service retirement and disability fund.

112

Z.1, December 6, 2007

F.118.b Private Pension Funds: Defined Benefit Plans
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

1

Net acquisition of financial assets

45.2

-21.9

-35.9

-43.2

-46.5

-66.6

-75.3

-63.2

-34.6

-13.2

-37.1

-60.9

-82.2

1

2
3
4
5

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

0.8
13.1
0.0
-4.2

0.3
8.3
0.0
-0.4

0.2
14.3
0.0
3.0

0.4
16.8
0.0
0.1

0.6
16.4
0.0
0.0

0.2
-19.7
0.0
-0.3

1.2
-23.7
0.0
-9.0

0.6
-35.1
0.0
-1.5

-0.2
-5.5
0.0
-0.6

0.1
2.3
0.0
1.1

0.1
-4.8
0.0
0.4

0.1
5.6
0.0
0.7

0.2
0.4
0.0
0.3

2
3
4
5

6

Credit market instruments

7
8
9
10
11

35.6

21.8

-11.2

37.3

-23.7

89.0

-123.7

-19.6

-36.5

73.3

-10.5

1.8

9.3

6

Open market paper
Treasury securities
Agency- and GSE-backed securities

-4.2
10.1
30.7

-0.4
1.6
3.2

3.0
-5.1
-12.3

0.1
3.2
7.1

0.1
-20.6
-18.2

0.4
18.6
30.4

-7.4
-11.7
-37.3

-0.3
-0.4
1.8

-1.4
-12.7
-17.9

-0.9
14.3
35.6

-0.3
-6.9
7.7

0.6
1.4
-3.9

0.3
1.8
5.6

7
8
9

Corporate and foreign bonds
Mortgages

2.7
-3.7

17.4
0.1

3.1
0.0

26.5
0.5

15.4
-0.4

39.6
0.0

-66.1
-1.3

-21.3
0.6

-4.7
0.2

24.3
-0.1

-10.8
-0.1

3.9
-0.2

1.6
-0.1

10
11

12
13

Corporate equities
Mutual fund shares

-3.8
3.7

-60.8
14.1

-63.1
7.6

-105.3
7.3

-52.5
7.8

-128.9
5.9

85.1
41.7

39.6
-17.6

-16.0
20.2

-34.9
-41.6

-12.6
11.2

-39.2
-14.6

-57.5
-33.2

12
13

14
15
16
17

Miscellaneous assets
Unallocated insurance contracts (1)
Contributions receivable
Other

0.1
-5.1
6.2
-1.0

-5.2
-5.6
1.6
-1.3

13.4
2.7
1.6
9.0

0.3
-5.3
5.4
0.2

4.9
-3.4
8.0
0.3

-12.8
-14.2
-7.5
8.9

-47.0
-5.2
-17.4
-24.4

-29.6
-1.0
-25.8
-2.8

3.9
11.0
-4.5
-2.6

-13.4
-10.7
-0.0
-2.6

-20.9
-24.5
-2.0
5.5

-15.4
-12.0
-1.9
-1.5

-1.7
-1.1
-0.2
-0.5

14
15
16
17

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

F.118.c Private Pension Funds: Defined Contribution Plans (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates
1

Net acquisition of financial assets

40.4

54.9

39.6

27.4

88.1

51.8

51.9

43.4

51.5

39.8

46.9

43.7

27.2

1

2
3
4
5

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

0.1
-6.3
5.3
-2.0

0.6
-0.2
6.3
0.7

0.6
-5.4
11.2
1.9

1.0
-5.8
13.4
1.1

-1.4
13.3
2.3
1.1

1.1
-19.6
12.1
2.3

2.1
0.8
4.2
3.9

-1.4
-1.3
-6.1
-7.4

0.5
1.6
9.4
2.0

0.1
0.7
-0.2
0.3

0.1
0.2
0.6
1.1

0.2
0.6
1.9
1.0

0.2
0.7
3.4
2.9

2
3
4
5

6

Credit market instruments

4.1

-4.9

5.1

7.1

16.6

18.2

-1.3

-16.4

27.9

-4.1

10.1

10.6

24.7

6

Open market paper
Treasury securities
Agency- and GSE-backed securities

-2.0
6.7
10.2

1.3
-1.9
-1.6

3.0
0.3
1.0

1.5
-1.2
-0.9

3.0
7.4
1.0

5.6
-1.9
9.1

1.3
1.8
4.4

-8.0
-7.2
3.4

3.6
9.3
-1.5

-2.3
-1.1
2.7

0.6
2.9
3.6

1.5
1.6
2.5

2.7
1.8
13.1

7
8
9

Corporate and foreign bonds
Mortgages

-9.3
-1.4

-3.4
0.7

0.2
0.7

7.6
0.3

5.0
0.2

3.5
1.8

-10.2
1.5

-1.8
-2.8

16.1
0.4

-3.4
-0.0

3.2
-0.1

5.0
0.0

7.3
-0.2

10
11

7
8
9
10
11
12
13

Corporate equities
Mutual fund shares

4.1
20.1

-30.2
57.8

-28.4
38.0

-45.4
48.0

21.0
45.8

-51.5
93.5

-22.3
75.6

67.0
35.7

-45.5
39.7

10.9
37.9

23.8
24.8

8.5
23.0

-12.2
26.5

12
13

14
15
16
17

Miscellaneous assets
Unallocated insurance contracts (2)
Contributions receivable
Other

15.0
8.9
5.5
0.6

24.7
13.4
3.8
7.6

16.7
2.1
3.8
10.8

7.9
-4.6
3.0
9.6

-10.7
-20.1
4.8
4.5

-4.2
-4.3
-10.8
10.9

-11.1
-30.4
-1.7
21.0

-26.7
12.9
1.2
-40.7

16.0
1.2
6.0
8.8

-5.7
-7.3
-0.1
1.8

-13.9
-10.8
-1.1
-2.0

-2.0
2.8
0.0
-4.9

-19.0
-7.9
-1.8
-9.3

14
15
16
17

(1) Includes 401(k) type plans.
(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; quarterly figures are seasonally adjusted annual rates
1

Total held at:

85.6

122.2

132.8

151.8

191.5

219.7

239.8

182.9

194.8

212.4

241.4

269.8

304.1

1

2
3
4

Commercial banking
Saving institutions
Credit unions

-1.1
-6.3
-0.0

6.5
-1.9
1.2

0.7
-3.9
0.9

0.1
-6.0
1.2

-0.5
-5.3
0.3

-3.4
-3.1
0.9

8.9
-2.3
0.4

3.1
-1.8
3.2

5.4
-0.7
3.4

0.5
1.0
3.5

1.9
-1.1
0.9

7.3
0.1
1.6

26.7
3.9
3.9

2
3
4

5
6
7
8

Life insurance companies
Money market mutual funds
Mutual funds
Other self-directed accounts

13.2
13.7
11.6
54.6

11.2
12.9
62.5
29.8

10.3
9.8
52.4
62.5

47.5
1.0
95.7
12.2

24.6
25.0
87.7
59.6

40.8
24.0
97.0
63.4

19.5
7.0
49.6
156.6

26.6
24.0
34.1
93.7

82.2
16.0
17.7
70.8

5.2
-17.0
107.5
111.7

-13.7
-15.0
70.2
198.3

20.8
9.0
73.1
157.9

-0.7
29.0
92.2
149.0

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) and from the money market fund sector (line 6).

113

Z.1, December 6, 2007

L.118.b Private Pension Funds: Defined Benefit Plans
Billions of dollars; amounts outstanding end of period, not seasonally adjusted

1

Total financial assets

2
3
4
5

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

6

Credit market instruments

7
8
9
10
11

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

1276.0

1466.1

1590.2

1763.5

1907.7

2074.6

1979.0

1810.2

1639.3

1994.5

2132.2

2149.3

2257.5

1

1.8
67.1
0.0
11.6

2.1
75.4
0.0
11.2

2.2
89.7
0.0
14.2

2.6
106.4
0.0
14.2

3.2
122.9
0.0
14.3

3.4
103.2
0.0
14.0

4.7
79.5
0.0
4.9

5.3
44.3
0.0
3.5

5.1
38.8
0.0
2.8

5.1
41.1
0.0
3.9

5.2
36.3
0.0
4.4

5.3
42.0
0.0
5.1

5.5
42.3
0.0
5.4

2
3
4
5

438.3

460.1

448.9

486.3

462.6

551.6

427.9

408.3

371.8

445.1

434.7

436.5

445.8

6

Open market paper
Treasury securities
Agency- and GSE-backed securities

11.6
78.2
182.4

11.2
79.7
185.6

14.2
74.7
173.3

14.2
77.9
180.4

14.4
57.2
162.2

14.8
75.9
192.6

7.4
64.2
155.3

7.1
63.9
157.1

5.7
51.2
139.2

4.8
65.5
174.8

4.5
58.6
182.5

5.1
60.0
178.5

5.5
61.8
184.1

7
8
9

Corporate and foreign bonds
Mortgages

161.4
4.7

178.8
4.8

181.9
4.9

208.4
5.4

223.8
5.0

263.3
5.0

197.2
3.7

175.9
4.4

171.3
4.6

195.6
4.5

184.7
4.4

188.6
4.2

190.2
4.1

10
11

12
13

Corporate equities
Mutual fund shares

559.9
39.0

688.8
68.5

764.3
91.0

844.0
122.3

949.1
156.6

1006.3
199.0

1076.0
236.4

1060.7
180.8

917.6
188.8

1170.8
197.4

1294.2
233.6

1312.8
233.4

1410.7
226.4

12
13

14
15
16
17

Miscellaneous assets
Unallocated insurance contracts (1)
Contributions receivable
Other

158.2
79.2
44.2
34.8

160.1
80.7
45.8
33.5

179.9
89.9
47.5
42.5

187.7
92.0
52.8
42.8

199.1
95.1
60.9
43.1

197.2
91.9
53.4
52.0

149.7
86.1
36.0
27.6

107.4
72.4
10.2
24.8

114.4
86.4
5.7
22.2

131.0
105.7
5.7
19.6

123.9
95.0
3.7
25.2

114.3
88.8
1.8
23.7

121.4
96.5
1.6
23.2

14
15
16
17

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

L.118.c Private Pension Funds: Defined Contribution Plans (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
1

Total financial assets

1160.2

1432.7

1634.2

1949.3

2236.2

2519.2

2488.6

2238.0

2037.9

2525.6

2783.0

2971.0

3266.7

1

2.3
35.0
31.6
10.6

2.8
34.8
37.9
11.3

3.4
29.4
49.1
13.2

4.3
23.7
62.5
14.3

2.9
37.0
64.8
15.4

4.0
17.4
76.9
17.7

6.1
18.2
81.1
21.6

4.7
17.0
75.1
14.2

5.1
18.6
84.5
16.2

5.2
19.3
84.3
16.5

5.3
19.5
84.9
22.1

5.5
20.0
86.7
23.1

5.7
20.8
90.1
26.0

2
3
4
5

153.2

148.3

153.4

160.5

177.2

195.3

194.0

177.5

205.4

201.3

211.5

222.1

246.8

6

Open market paper
Treasury securities
Agency- and GSE-backed securities

12.4
43.0
29.1

13.7
41.0
27.5

16.6
41.3
28.5

18.1
40.1
27.5

21.1
47.5
28.6

26.6
45.6
37.7

27.9
47.4
42.1

19.9
40.2
45.4

23.6
49.5
44.0

21.3
48.4
46.7

21.9
51.3
50.3

23.4
52.8
52.8

26.1
54.6
66.0

7
8
9

Corporate and foreign bonds
Mortgages

65.7
3.1

62.3
3.8

62.5
4.4

70.1
4.7

75.1
4.9

78.6
6.7

68.4
8.2

66.6
5.4

82.6
5.8

79.3
5.8

82.4
5.6

87.4
5.6

94.8
5.4

10
11

2
3
4
5

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

6

Credit market instruments

7
8
9
10
11
12
13

Corporate equities
Mutual fund shares

453.8
166.9

568.0
288.5

638.8
381.6

759.7
537.8

920.1
633.3

959.9
857.5

894.6
895.3

848.0
782.1

670.9
743.1

925.8
929.4

1039.4
1044.6

1104.2
1142.4

1224.6
1279.0

12
13

14
15
16
17

Miscellaneous assets
Unallocated insurance contracts (2)
Contributions receivable
Other

307.0
218.7
34.1
54.2

341.1
241.4
37.9
61.8

365.4
251.1
41.7
72.6

386.5
259.7
44.7
82.1

385.4
249.2
49.6
86.7

390.4
254.1
38.7
97.6

377.6
222.0
37.0
118.6

319.5
203.4
38.2
77.9

294.0
163.2
44.2
86.6

343.7
211.3
44.1
88.4

355.8
233.5
43.0
79.3

367.0
249.6
43.0
74.5

373.8
267.4
41.2
65.1

14
15
16
17

(1) Includes 401(k) type plans.
(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

Total held at:

1056.0

1288.0

1467.0

1728.0

2150.0

2651.0

2629.0

2619.0

2533.0

2993.0

3284.0

3632.0

4232.0

1

2
3
4

Commercial banking
Saving institutions
Credit unions

144.7
78.9
31.8

151.1
76.9
33.0

151.9
73.0
33.8

152.0
67.0
35.0

151.5
61.8
35.3

148.1
58.7
36.2

157.0
56.4
36.7

160.1
54.6
39.9

165.6
53.8
43.3

166.1
54.8
46.8

168.0
53.7
47.7

175.3
53.8
49.3

202.0
57.6
53.2

2
3
4

5
6
7
8

Life insurance companies
Money market mutual funds
Mutual funds
Other self-directed accounts

78.7
61.2
271.9
388.8

94.3
74.2
376.4
482.1

110.3
84.0
480.0
533.9

160.0
85.0
654.0
575.0

190.1
110.0
817.0
784.3

245.5
134.0
1080.0
948.5

245.5
141.0
1048.0
944.4

251.0
165.0
963.3
985.1

308.3
181.0
823.0
958.0

338.4
164.0
1095.0
1127.9

348.0
149.0
1279.0
1238.7

381.0
158.0
1435.0
1379.6

424.0
187.0
1696.0
1612.2

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) and from the money market fund
sector (line 6).

114

Flow of Funds Matrix for 2006

Z.1, December 6, 2007

(Billions of dollars; All Sectors -- Flows)

Households
and Nonprofit
Organizations

State
and Local
Governments

Nonfinancial
Business

Domestic
Nonfinancial
Sectors

Federal
Government

Rest of
the World

Financial
Sectors

Instrument
Discrepancy

All
Sectors

U

S

U

S

U

S

U

S

U

S

U

S

U

S

U

S

(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

(9)

(10)

(11)

(12)

(13)

(14)

(15)

(16)

(17)

1
2
3

Gross saving and net cap. transfers
Capital consumption
Net saving (1 less 2)

----

1247.9
1036.3
211.6

----

1214.9
990.0
224.9

----

243.8
162.3
81.5

----

-157.1
105.4
-262.5

----

2549.5
2294.1
255.4

----

797.9
-797.9

----

264.8
88.8
176.0

----

3612.2
2382.8
1229.4

----

4
5
6
7
8
9
10

Gross investment (5 plus 11)
Capital expenditures
Consumer durables
Residential
Nonresidential
Inventory change
Nonproduced nonfinancial assets

1056.2
1708.3
958.7
639.8
109.8
---

--------

1381.2
1334.3
-120.8
1164.6
46.6
2.2

--------

274.9
325.3
-7.1
306.9
-11.2

--------

-182.1
106.4
-2.0
117.7
--13.3

--------

2530.3
3474.2
958.7
769.8
1699.0
46.6
0.1

--------

829.2
-0.1
-----0.1

--------

171.7
127.4
-4.1
123.3
---

--------

3531.2
3601.6
958.7
774.0
1822.3
46.6
--

--------

81.1
10.6
------

11
12
13

Net financial investment
Financial uses
Financial sources

-652.1
620.2
--

--1272.3

46.9
637.2
--

--590.2

-50.3
136.3
--

--186.6

-288.5
-28.1
--

--260.4

-944.0
1365.5
--

--2309.5

829.3
1629.6
--

--800.3

44.3
3900.9
--

--3856.6

-70.4
6896.0
--

--6966.4

70.4
70.4
--

14
15
16
17
18
19
20
21
22

Gold and off. fgn. exchange
SDR certificates
Treasury currency
Foreign deposits
Interbank claims
Checkable dep. and currency
Time and savings deposits
Money market fund shares
Fed. funds and security RPs

---5.9
--47.8
507.9
165.4
--

----------

---4.2
--50.2
36.6
72.9
0.9

----------

-----5.2
26.2
5.1
7.1

----------

-2.7
-----2.7
0.2
---

-0.0
0.6
-------

-2.7
--10.1
--95.4
570.9
243.4
7.9

-0.0
0.6
-------

-0.2
----9.4
22.8
15.4
2.6
109.4

-2.6
--98.8
------

0.4
0.0
1.7
-10.6
0.1
56.9
21.8
59.7
81.0

-----11.2
-18.7
608.2
305.7
496.0

-2.6
0.0
1.7
-0.4
-9.3
-15.8
608.2
305.7
198.2

-2.6
0.0
0.6
98.8
-11.2
-18.7
608.2
305.7
496.0

---1.1
99.2
-1.9
-3.0
--297.8

23
24
25
26
27
28
29
30
31
32

Credit market instruments
Open market paper
Treasury securities
Agency- and GSE-backed sec.
Municipal securities
Corporate and fgn. bonds
Bank loans n.e.c.
Other loans and advances
Mortgages
Consumer credit

165.6
23.4
-67.2
-41.0
38.5
209.0
--2.9
--

1203.1
---21.8
-48.0
3.7
1025.3
104.4

30.0
15.3
-0.6
-2.7
10.7
---9.3
-2.1

792.2
23.4
--5.0
218.6
125.4
42.9
376.9
--

84.6
13.2
34.6
20.6
0.4
8.1
--7.8
--

151.1
---150.5
--0.6
---

4.0
--0.0
----1.5
3.7
1.9

183.4
-183.7
-0.3
----0.0
--

284.2
51.9
-33.2
-23.1
49.6
217.0
--1.5
23.7
-0.2

2329.9
23.4
183.7
-0.3
177.3
218.6
173.4
47.3
1402.2
104.4

841.5
32.7
139.7
228.5
6.0
434.9
--0.2
---

250.4
93.1
---150.9
13.8
-7.4
---

2756.2
232.6
77.2
134.6
121.7
514.1
123.1
62.8
1385.5
104.6

1301.7
200.7
-340.3
-796.4
-64.1
21.2
7.0
--

3881.9
317.1
183.7
340.0
177.3
1166.0
123.1
61.1
1409.2
104.4

3881.9
317.1
183.7
340.0
177.3
1166.0
123.1
61.1
1409.2
104.4

-----------

33
34
35
36

Corporate equities
Mutual fund shares
Trade credit
Security credit

-701.1
254.6
-80.4

--9.0
59.7

-32.9
164.8
--

-614.1
-97.1
--

-6.4
-2.0
10.3
--

--35.5
--

--0.4
--

--12.8
--

-707.4
285.5
175.6
80.4

-614.1
-154.4
59.7

120.6
25.3
6.2
0.0

138.5
-6.2
0.0

169.4
25.8
50.1
131.1

58.2
336.5
5.2
151.8

-417.4
336.5
231.8
211.5

-417.4
336.5
165.9
211.5

---66.0
--

37
38
39
40
41

Life insurance reserves
Pension fund reserves
Taxes payable
Equity in noncorp. business
Miscellaneous

65.6
140.2
--56.6
40.1

----0.5

----345.1

--5.2
-52.2
361.9

--46.9
--40.8

------

---28.3
-1.0

1.5
---62.1

65.6
140.2
18.6
-56.6
345.3

1.5
-5.2
-52.2
424.5

----495.3

----308.9

----557.3

64.1
140.2
15.3
-4.4
407.9

65.6
140.2
18.6
-56.6
1398.0

65.6
140.2
20.5
-56.6
1141.4

--1.9
--256.6

42

Sector discrepancies (1 less 4)

191.7

--

-166.3

--

-31.1

--

25.0

--

19.2

--

-31.3

--

93.1

--

81.1

--

81.1

General notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government.

Flow of Funds Matrix for 2006

Z.1, December 6, 2007

(Billions of dollars; All Sectors -- Assets and Liabilities)

Households
and Nonprofit
Organizations

State
and Local
Governments

Nonfinancial
Business

Domestic
Nonfinancial
Sectors

Federal
Government

Rest of
the World

Financial
Sectors

Instrument
Discrepancy

All
Sectors

A

L

A

L

A

L

A

L

A

L

A

L

A

L

A

L

(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

(9)

(10)

(11)

(12)

(13)

(14)

(15)

(16)

(17)

1
2
3

Total financial assets
Total liabilities and equity
Total liabilities

42880.4
---

-13434.0
13434.0

15062.3
---

-34782.3
15741.5

2385.5
---

-2523.6
2523.6

598.9
---

-6172.8
6172.8

60927.1
---

-56912.8
37872.0

14372.8
---

-10875.2
6623.7

56701.1
---

-60333.3
55187.9

132001.0
---

-128121.2
99683.6

-3879.8
---

4
5
6
7
8
9
10

Monetary gold and SDRs
IMF Position
Official foreign exchange
SDR certificates
Treasury currency
Foreign deposits
Interbank claims

-----67.5
--

--------

-----64.8
--

--------

--------

--------

8.9
5.1
20.5
-----

---2.2
28.1
---

8.9
5.1
20.5
--132.3
--

---2.2
28.1
---

------96.7

-5.0
40.9
--1123.5
--

11.0
-0.1
20.5
2.2
38.2
84.2
70.1

------190.0

19.9
5.0
40.9
2.2
38.2
216.4
166.8

-5.0
40.9
2.2
28.1
1123.5
190.0

-19.9
----10.1
907.1
23.2

11
12
13
14

Checkable dep. and currency
Time and savings deposits
Money market fund shares
Fed. funds and security RPs

131.9
5411.5
1114.6
--

-----

524.8
855.9
510.8
15.5

-----

56.4
209.6
75.9
146.3

-----

32.9
1.7
---

-----

745.9
6478.6
1701.3
161.8

-----

394.3
190.4
25.6
1029.0

-----

345.7
328.1
585.7
829.3

1506.5
6997.0
2312.5
2494.0

1485.9
6997.0
2312.5
2020.1

1506.5
6997.0
2312.5
2494.0

20.6
--473.9

15
16
17
18
19
20
21
22
23
24

Credit market instruments
Open market paper
Treasury securities
Agency- and GSE-backed sec.
Municipal securities
Corporate and fgn. bonds
Bank loans n.e.c.
Other loans and advances
Mortgages
Consumer credit

3172.1
187.7
469.3
481.0
854.7
1044.1
--135.4
--

12927.8
---226.9
-96.3
123.1
10063.3
2418.3

475.1
126.5
108.4
16.1
50.5
---116.8
56.8

9036.1
117.1
--181.7
3224.8
1313.9
933.5
3265.0
--

1406.8
195.5
497.7
416.9
5.3
133.6
--157.7
--

2005.5
---1994.6
--11.0
---

277.9
--0.0
---104.7
81.5
91.7

4885.3
-4861.7
23.5
----0.0
--

5331.9
509.7
1075.5
913.9
910.5
1177.7
-104.7
491.4
148.4

28854.7
117.1
4861.7
23.5
2403.2
3224.8
1410.2
1067.5
13328.3
2418.3

6486.7
219.9
2115.0
1190.9
37.0
2764.6
-159.4
---

1767.0
461.4
---1180.8
98.3
26.6
---

33010.8
1228.4
1671.3
4415.0
1455.7
5827.4
1683.4
1471.4
12988.4
2269.8

14207.7
1379.5
-6496.2
-5364.2
175.0
641.4
151.5
--

44829.4
1958.0
4861.7
6519.7
2403.2
9769.7
1683.4
1735.4
13479.9
2418.3

44829.4
1958.0
4861.7
6519.7
2403.2
9769.7
1683.4
1735.4
13479.9
2418.3

-----------

25
26
27
28

Corporate equities
Mutual fund shares
Trade credit
Security credit

6298.1
4559.2
-655.7

--191.3
292.1

-206.8
2685.9
--

11519.6
-2104.8
--

102.4
31.3
153.1
--

--518.1
--

--71.3
--

--210.8
--

6400.6
4797.4
2910.3
655.7

11519.6
-3024.9
292.1

2455.6
295.5
58.5
0.0

4251.5
-63.5
0.0

12053.0
1975.4
231.7
594.3

5138.0
7068.3
48.3
957.8

20909.1
7068.3
3200.4
1249.9

20909.1
7068.3
3136.6
1249.9

---63.7
--

29
30
31
32
33

Life insurance reserves
Pension fund reserves
Taxes payable
Equity in noncorp. business
Miscellaneous

1163.7
12146.4
-7528.4
631.2

----22.8

----9722.8

--183.7
7521.1
4417.0

--185.1
-18.6

------

--78.8
-101.8

44.2
---1002.4

1163.7
12146.4
264.0
7528.4
10474.5

44.2
-183.7
7521.1
5442.2

----3340.6

----3623.7

----6521.2

1119.5
12146.4
132.6
7.3
6007.2

1163.7
12146.4
264.0
7528.4
20336.3

1163.7
12146.4
316.3
7528.4
15073.1

--52.3
--5263.2

General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is
the sum of corporate equities (line 25) and equity in noncorporate business (line 32). The matrix shows a discrepancy in column 17 for monetary gold and SDRs (line 4) because by international accounting convention,
such instruments are financial assets without corresponding liabilities.

115

116

Z.1, December 6, 2007

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
1995

1

Assets

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

32623.4

35559.6

39547.2

43400.4

48887.1

48797.0

48426.6

47657.4

53878.4

59211.8

64222.4

69550.9

1

2

Tangible assets

11228.3

11753.4

12370.9

13392.6

14524.6

15802.5

17006.2

18507.2

20191.5

22464.2

25019.3

26670.5

2

3

Financial assets

21395.1

23806.2

27176.3

30007.8

34362.5

32994.5

31420.5

29150.3

33686.9

36747.6

39203.1

42880.4

3

4
5

Deposits
Credit market instruments

3327.4
2177.0

3470.1
2339.2

3635.2
2260.7

3844.7
2330.6

4028.1
2438.0

4349.6
2228.8

4842.3
2126.8

5127.7
2227.2

5327.4
2561.1

5705.7
2847.2

6094.1
3011.0

6725.5
3172.1

4
5

6

Equity shares at market value

7656.5

9232.6

11874.9

13775.0

17332.0

15402.3

13174.5

10075.0

13117.7

14448.0

15267.7

16917.4

6

7

Directly held

4434.2

5243.7

6815.2

7704.4

9891.7

8199.3

6511.5

4623.4

5767.5

5938.1

5994.9

6298.1

7

8

Indirectly held

3222.4

3988.9

5059.8

6070.6

7440.4

7203.0

6663.0

5451.6

7350.2

8509.9

9272.8

10619.3

8

274.7
1504.8
726.7
778.1
738.3
11.5
693.2

373.3
1724.4
821.4
902.9
892.5
18.8
979.9

510.5
2089.0
926.6
1162.4
1114.4
29.9
1316.0

665.4
2462.4
1057.8
1404.7
1268.4
43.0
1631.3

904.4
2812.6
1154.3
1658.3
1512.5
56.9
2153.9

882.8
2866.7
1248.0
1618.7
1428.5
56.6
1968.4

806.5
2629.0
1184.6
1444.4
1386.6
49.1
1791.8

692.5
2222.1
1031.1
1191.0
1157.4
45.9
1333.7

887.3
2921.6
1300.2
1621.4
1557.3
79.9
1904.1

1028.9
3298.7
1452.9
1845.9
1761.2
99.2
2321.9

1140.1
3466.1
1473.9
1992.2
1887.3
112.6
2666.7

1334.7
3797.4
1570.5
2226.9
2130.6
138.1
3218.4

9
10
11
12
13
14
15

9
10
11
12
13
14
15

Life insurance companies
Private pension funds
Defined benefit plans
Defined contribution plans
State and local govt. retirement funds
Federal government retirement funds
Mutual funds

16

Other

8234.1

8764.3

9405.5

10057.5

10564.3

11013.8

11276.9

11720.4

12680.7

13746.7

14830.4

16065.4

16

17

Liabilities

5059.4

5412.4

5760.6

6215.8

6792.1

7398.3

8028.7

8834.2

9857.0

11048.8

12161.7

13434.0

17

18

Net worth

27564.0

30147.3

33786.6

37184.7

42095.0

41398.7

40398.0

38823.3

44021.4

48163.0

52060.7

56116.9

18

6191.6

7518.6

9834.0

11448.8

14665.2

12725.8

10603.3

7879.6

10242.4

11214.6

11886.9

13194.9

19

23.5
35.8

26.0
38.8

30.0
43.7

31.7
45.9

35.5
50.4

31.6
46.7

27.2
41.9

21.1
34.6

24.3
38.9

24.4
39.3

23.8
38.9

24.3
39.5

20
21

Memo:
19

20
21

Equity shares excluding defined benefit plans
(line 6 minus lines 11, 13 and part of line 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.