Flow of Fund Accounts

For use at 12:00 p.m.
, eastern time
March 8, 2012
FEDERAL RESERVE statistical release

Z.1
Flow of Funds Accounts

of the United States
Flows and Outstandings
Fourth Quarter 2011
Board of Governors of the Federal Reserve System, Washington DC 20551
Flow of Funds Summary Statistics

Fourth Quarter 2011
C
Debt of the domestic nonfinancial sectors expanded

at a seasonally adjusted annual rate of 5 percent in
the fourth quarter of 2011, about percentage point
more than the pace registered in the third quarter.
Household debt increased at an annual rate of
percent in the fourth quarter, the first increase since
the second quarter of 2008. Consumer credit rose at
an annual rate of 7 percent in the fourth quarter, the
fifth consecutive quarterly increase. Home mortgage
debt declined 1 percent in the fourth quarter, the
smallest decline since the end of 2009.
Nonfinancial business debt rose at an annual rate of
4 percent in the fourth quarter, 1 percentage point
higher than its third-quarter pace. Corporate bonds
outstanding and business loans increased while
commercial mortgage debt continued to decline.
State and local government debt declined at an
annual rate of 1 percent in the fourth quarter. For

2011 as a whole, state and local debt declined almost
2 percent, its first annual decrease since 1996.
Federal government debt rose at an annual rate of 13
percent in the fourth quarter. For all of 2011, federal
debt rose 11 percent, the smallest annual increase
since 2007.
At the end of 2011, the level of domestic
nonfinancial debt outstanding was $38.3 trillion, of
which household debt was $13.2 trillion, nonfinancial
business debt was $11.6 trillion, and total
government debt was $13.5 trillion.
Household net worththe difference between the
value of assets and liabilitieswas $58.5 trillion at
the end of 2011, about $1.2 trillion more than at the
end of the third quarter. For 2011 as a whole,
household net worth fell close to percent, the first
annual decrease since 2008.
Growth of Domestic Nonfinancial Debt1

Percentage changes; quarterly data are seasonally adjusted annual rates
P
State and
local govts.
11.1
8.3
11.9
5.5
3.7
Federal
Total
Households
Business
2002
2003
2004
2005
2006
7.4
8.1
9.2
9.2
8.7
10.6
12.0
11.0
11.1
10.0
3.0
2.2
6.5
9.0
11.1
2007
2008
2009
2010
2011
8.5
6.0
3.1
4.1
3.7
6.7
0.1
-1.7
-2.1
-0.9
13.6
6.2
-2.4
0.7
4.2
5.4
0.7
3.9
2.2
-1.9
4.9
24.2
22.7
20.2
11.4
2010:Q1
Q2
Q3
Q4
3.5
3.9
3.7
4.9
-3.1
-2.2
-2.2
-0.7
-0.1
-1.3
1.8
2.5
2.4
-0.5
2.1
4.8
20.6
22.5
16.0
16.4
2011:Q1
2.3
-1.9
Q2
3.0
-0.6
Q3
4.4
-1.2
Q4
4.9
0.3
1. Changes shown are on an end-of-period basis.
4.1
4.4
3.6
4.6
-3.3
-3.5
0.0
-1.0
7.9
8.6
14.1
13.1
7.6
10.9
9.0
7.0
3.9
Table of Contents
Title
Table
Page
Flow of Funds Accounts, Fourth Quarter 2011
Availability of Data for Latest Quarter
Credit Market Debt Growth by Sector
D.1
Credit Market Borrowing by Sector
D.2
Credit Market Debt Outstanding by Sector
D.3
Flows
Table
Page
Levels
Table
Page
Total Credit Market Borrowing and Lending
F.1
10
L.1
61
Credit Market Borrowing by Nonfinancial Sectors
F.2
11
L.2
62
Credit Market Borrowing by Financial Sectors
F.3
11
L.3
62
Credit Market Borrowing, All Sectors, by Instrument
F.4
12
L.4
63
Total Liabilities and Its Relation to Total Financial Assets
F.5
12
L.5
63
Distribution of Gross Domestic Product
F.6
13
Distribution of National Income
F.7
14
Saving and Investment
F.8
15
Net Capital Transfers
F.9
16
Derivation of Measures of Personal Saving
F.10
17
L.10
64
Title
Summaries
Flows
Table
Page
Levels
Table
Page
Households and Nonprofit Organizations
F.100
18
L.100
65
Nonfinancial Business
F.101
19
L.101
66
Nonfinancial Corporate Business
F.102
20
L.102
67
Nonfinancial Noncorporate Business
F.103
21
L.103
68
State and Local Governments
F.105
22
L.105
69
Federal Government
F.106
23
L.106
69
Rest of the World
F.107
24
L.107
70
Financial Business
F.108
25
L.108
71
Monetary Authority
F.109
26
L.109
72
U.S.-Chartered Commercial Banks
F.110
27
L.110
73
Foreign Banking Offices in U.S.
F.111
28
L.111
74
Bank Holding Companies
F.112
29
L.112
75
Banks in U.S.-Affiliated Areas
F.113
29
L.113
75
Savings Institutions
F.114
30
L.114
76
Credit Unions
F.115
31
L.115
77
Property-Casualty Insurance Companies
F.116
31
L.116
77
Life Insurance Companies
F.117
32
L.117
78
Private Pension Funds
F.118
32
L.118
78
State and Local Government Employee Retirement Funds
F.119
33
L.119
79
Federal Government Retirement Funds
F.120
33
L.120
79
Money Market Mutual Funds
F.121
34
L.121
80
Mutual Funds
F.122
34
L.122
80
Closed-End and Exchange-Traded Funds
F.123
34
L.123
80
Government-Sponsored Enterprises
F.124
35
L.124
81
Title
Sectors
Farm Business (Discontinued)
Flows
Table
Page
Levels
Table
Page
Agency- and GSE-Backed Mortgage Pools
F.125
35
L.125
81
Issuers of Asset-Backed Securities
F.126
36
L.126
82
Finance Companies
F.127
36
L.127
82
Real Estate Investment Trusts
F.128
37
L.128
83
Security Brokers and Dealers
F.129
38
L.129
84
Funding Corporations
F.130
38
L.130
84
F.200
39
L.200
85
Special Drawing Rights (SDRs) Certificates and Treasury Currency F.201
39
L.201
85
U.S. Deposits in Foreign Countries
F.202
39
L.202
85
Net Interbank Transactions
F.203
40
L.203
86
Checkable Deposits and Currency
F.204
41
L.204
87
Time and Savings Deposits
F.205
42
L.205
88
Money Market Mutual Fund Shares
F.206
42
L.206
88
Federal Funds and Security Repurchase Agreements
F.207
43
L.207
89
Open Market Paper
F.208
43
L.208
89
Treasury Securities
F.209
44
L.209
90
Agency- and GSE-Backed Securities
F.210
45
L.210
91
Municipal Securities and Loans
F.211
46
L.211
92
Corporate and Foreign Bonds
F.212
47
L.212
93
Corporate Equities
F.213
48
L.213
94
Mutual Fund Shares
F.214
48
L.214
94
Bank Loans Not Elsewhere Classified
F.215
49
L.215
95
Other Loans and Advances
F.216
50
L.216
96
Title
Instruments
U.S. Official Reserve Assets and SDR Allocations
Flows
Levels
Title
Table
Page
Table
Page
Total Mortgages
F.217
51
L.217
97
Home Mortgages
F.218
52
L.218
98
Multifamily Residential Mortgages
F.219
52
L.219
98
Commercial Mortgages
F.220
53
L.220
99
Farm Mortgages
F.221
53
L.221
99
Consumer Credit
F.222
54
L.222
100
Trade Credit
F.223
54
L.223
100
Security Credit
F.224
54
L.224
100
Life Insurance and Pension Fund Reserves
F.225
55
L.225
101
Taxes Payable by Businesses
F.226
55
L.226
101
Proprietors' Equity in Noncorporate Business
F.227
55
L.227
101
Total Miscellaneous Financial Claims
F.228
56
L.228
102
Identified Miscellaneous Financial Claims - Part I
F.229
57
L.229
103
Identified Miscellaneous Financial Claims - Part II
F.230
58
L.230
104
Unidentified Miscellaneous Financial Claims
F.231
59
L.231
105
Sector Discrepancies
F.11
60
Instrument Discrepancies
F.12
60
Title
Balance
Sheet
Table
Page
Table
Page
Households and Nonprofit Organizations
B.100
106
R.100
109
Nonfinancial Corporate Business
B.102
107
R.102
110
Nonfarm Noncorporate Business
B.103
108
R.103
111
Reconciliation
Balance Sheet and Reconciliation Tables
Flows
Table
Page
Levels
Table
Page
Nonprofit Organizations
F.100.a
112
L.100.a
113
Consolidated Statement for Federal, State, and Local Governments
F.106.c
114
L.106.c
115
Private Pension Funds: Defined Benefit Plans
F.118.b
116
L.118.b
117
Private Pension Funds: Defined Contribution Plans
F.118.c
116
L.118.c
117
Individual Retirement Accounts (IRAs)
F.225.i
116
L.225.i
117
Title
Supplementary Tables
Flow of Funds Matrix for 2011

Balance Sheet of Households and Nonprofit Organizations
with Equity Detail
118
119
B.100.e
120
Flow of Funds Accounts, Fourth Quarter 2011

This publication presents the Flow of Funds
Accounts for 2011:Q4. The statistics in the attached
tables reflect the use of new or revised source data.
Most significant revisions appear in recent quarters;
however, new source information resulted in changes
to data for earlier periods.
Release Highlights. Major data revisions, structural
changes, and release enhancements introduced this
quarter are described below:
1. Tables in the Z.1 for the farm sector (tables F.104
and L.104) have been discontinued, but no tables in
the release have been renumbered. Corporate farms
are now included with the nonfinancial corporate
sector (tables F.102, L.102, B.102, and R.102), and
noncorporate farms are included with the
nonfinancial noncorporate sector (tables F.103,
L.103, B.103, and R.103). These changes make the
tables for the nonfinancial business sectors consistent
in concept with the tables shown in the Integrated
Macroeconomic Accounts (IMA). The IMAs are a
joint publication of the Bureau of Economic Analysis
and the Federal Reserve Board that presents a full
sequence of accounts as described in the System of
National Accounts (SNA). In addition, farm land is
now included on tables S.4.a, S.4.q, S.5.a, and S.5.q
in the IMA. The underlying farm series are still
available as unpublished series from the online
Federal Reserve Data Download Program (DDP).
2. Starting with 2006:Q1, the U.S. chartered
commercial banks sector (tables F.110 and L.110)
and the bank holding companies sector (tables F.112
and L.112) have been modified to show bank-owned
life insurance (BOLI) reserves as a separate line item.
These reserves were formerly included in
miscellaneous assets. Life insurance reserves of the
household sector (tables F.100 and L.100) have been
reduced by the amount of the BOLI assets, leaving
total life insurance reserve liabilities in the life
insurance sector (tables F.117 and L.117) unchanged.
The instrument table for life insurance and pension
fund reserves (F.225 and L.225) has been modified to
show the BOLI assets of banks and bank holding
companies.
Flow of Funds Guide.

4. In the Flow of Funds Guide, descriptions of some
sectors on the Series Structure page now include
Corresponding 2008 SNA sector identifiers in
parentheses.
Explanatory notes for tables D.1, D.2, and D.3.
Domestic debt comprises credit market funds
borrowed by U.S. entities from both domestic and
foreign sources, while foreign debt represents
amounts borrowed by foreign financial and
nonfinancial entities in U.S. markets only. Financial
sectors consist of government-sponsored enterprises,
agency- and GSE-backed mortgage pools, the
monetary authority, and private financial institutions.
Credit market debt consists of debt securities,
mortgages, bank loans, commercial paper, consumer
credit, U.S. government loans, and other loans and
advances; it excludes trade debt, loans for the
purpose of carrying securities, and funds raised from
equity sources. This definition is consistent with the
presentation of credit market borrowing and lending
on tables F.1 through F.4. Net lending (+) or net
borrowing (-) on the individual sector tables and the
matrix is defined as net acquisition of financial assets
less net increase in liabilities.
Growth rates in table D.1 are calculated by dividing
seasonally adjusted flows from table D.2 by
seasonally adjusted levels at the end of the previous
period from table D.3. Seasonally adjusted levels in
flow of funds statistics are derived by carrying
forward year-end levels by seasonally adjusted flows.
Growth rates calculated from changes in unadjusted
levels printed in table L.2 can differ from those in
table D.1.
Relation of Flows to Outstandings. Estimates of
financial assets and liabilities outstanding are linked
to data on flows. However, figures on outstandings
contain discontinuities or breaks in series that could
affect analysis of particular relationships over time.
Specifically, outstandings in the Flow of Funds
Accounts are related to flows in the following way:
Outstanding t = Outstanding t-1+ Flow t+ Discontinuityt
where t is the time period.
B
3. For the real estate investment trust (REITS) sector

(tables F.128 and L.128), separate data for equity
REITS and mortgage REITS are now available
through the Federal Reserve Data Download Program
(DDP). Detail on the calculations can be found in the
Discontinuities result from changes in valuation,

breaks in source data, and changes in definitions. For
most series, the value of the discontinuity is zero for
2
nearly all time periods. However, in a few instances,
the discontinuity is nonzero for almost all time
periods, or is quite large in a particular quarter, such
as a period when there is a sharp increase or decrease
in equity prices or a major break in source data.
quarterly data, differences in seasonal adjustment

procedures for financial and nonfinancial components
of the accounts sometimes result in discrepancies that
cancel in annual data.
The discontinuities in a series can distort estimated

rates of growth in assets and liabilities between
periods. In order to minimize these distortions,
percentage changes in assets and liabilities in flow of
funds releases should be calculated as:
Availability of Data. Flow of funds statistics are

updated about ten weeks following the end of a
quarter. This publication the Z.1 release is
available from the Board's Publications Services.
Flow of funds data are also available electronically
through the Internet at the following location:
Percentage change t = (Flow t / Outstanding t-1) * 100
www.federalreserve.gov/releases/Z1
Preliminary Estimates. Figures shown for the most

recent quarter in these tables are based on
preliminary and incomplete information. A summary
list of the principal sources of information available
when the latest quarter's data were compiled is
provided in a table following this introduction. The
distinction between available data and missing
data is not between final and preliminary versions of
data, but rather between those source estimates that
are fully ready when the latest quarterly publication
is compiled and those that are not yet completed.
However, the items that are shown as available are, in
general, also preliminary in the sense that they are
subject to revision by source agencies.
This Internet site also provides coded tables and

historical annual tables beginning in 1945 that
correspond to the tables published in this release.
There are also compressed ASCII files of quarterly
data for seasonally adjusted flows, unadjusted flows,
outstandings, balance sheets, debt (tables D.1, D.2,
and D.3), and supplementary tables.
In addition, these data, as well as data for the

quarterly and annual Integrated Macroeconomic
Accounts for the United States tables, are available as
customizable download datasets through the Data
Download Program (DDP) at the following location:
www.federalreserve.gov/datadownload/Choose.aspx?rel=Z.1
Margins of Uncertainty. Flow of funds statistics are

subject to uncertainties resulting from measurement
errors in source data, incompatibilities among data
from different sources, potential revisions in both
financial and nonfinancial series, and incomplete data
in parts of the accounts. The size of these
uncertainties cannot be quantified in precise
statistical terms, but allowance for them is explicitly
made throughout the accounts by the inclusion of
discrepancies for various sectors and instrument
types. A discrepancy for a sector is the difference
between its measured sources of funds and its
measured uses of funds. For an instrument category,
a discrepancy is the difference between measured
funds borrowed through the financial instrument and
measured funds lent through that instrument. The size
of such discrepancies relative to the main asset or
liability components is one indication of the quality
of source data, especially on an annual basis. For
An interactive, web-based guide to the Flow of Funds

Accounts is available through the Z.1 release page.
The tools and descriptions within this guide are
designed to help users explore the structure and
content of the Z.1 and the Integrated Macroeconomic
Accounts.
Subscription Information. The Federal Reserve
Board charges for subscriptions to all statistical
releases. Inquiries for releases should be directed to:
Publications Services, Stop 127
Board of Governors
of the Federal Reserve System
20th Street and Constitution Avenue, N.W.
Washington, DC 20551
(202) 452-3244
[THIS PAGE INTENTIONALLY LEFT BLANK]
Availability of Data for Latest Quarter

Available at time of publication
U
Major items missing

U
1. National income and product

accounts (NIPA)
Second estimate, seasonally adjusted,

for 2011:Q4.
Unadjusted flows since 2010 for

the government sectors.
Unadjusted flows since 2006 for all
other sectors.
2. Households and nonprofit

organizations sector
(tables F.100 and L.100)
Estimates for this sector are largely residuals and are derived from data for
other sectors. Availability of data depends on schedules for other sectors.
Data for consumer credit, which are estimated directly, are available through
2011:Q4. The source for nonprofit organizations data (tables F.100.a and
L.100.a) is the Internal Revenue Service Statistics of Income. Data for
nonprofit organizations are available for 1987 through 2000.
3. Nonfinancial corporate business

Quarterly Financial Report (QFR) of

the Census Bureau through 2011:Q3;
Internal Revenue Service Statistics of
Income (IRS/SOI) data through 2009;
securities offerings, mortgages, bank
loans, commercial paper, other loans,
and corporate farms through 2011:Q4.
Statistics of Income data since

2009. QFR for 2011:Q4.
4. Nonfinancial noncorporate
business
IRS/SOI data through 2009; bank and

finance company loans, mortgage
borrowing, and noncorporate farms
through 2011:Q4.
Statistics of Income data since

2009.
5. State and local governments

Gross offerings and retirements of

municipal securities, deposits at banks,
and nonmarketable U.S. government
security issues through 2011:Q4; total
financial assets through 2009:Q2 from
the Census Bureau; breakdown of
financial assets through 2004:Q2 from
the comprehensive annual financial
reports of state and local governments.
Total financial assets since

2009:Q2 and selected financial
asset detail since 2004:Q2.
6. Federal government
Data from the Monthly Treasury

Statement of Receipts and Outlays and
Treasury data for loan programs and the
Troubled Assets Relief Program
(TARP) through 2011:Q4.
None.
5
7. Rest of the world
(U.S. international transactions)
Balance of payments data through

2011:Q3. NIPA estimates; data from
bank Reports of Condition and from
Treasury International Capital System
through 2011:Q4.
Balance of payments data for

2011:Q4.
8. Monetary authority
All data through 2011:Q4.
None.
9. U.S.-chartered commercial banks

None.
10. Foreign banking offices in U.S.

None.
11. Bank holding companies

(table F.112 and L.112)
None.
12. Banks in U.S.-affiliated areas

All data through 2011:Q4 for

commercial banks in U.S.-affiliated
areas. All data through 2010 for
branches of domestic commercial banks
located in U.S.-affiliated areas.
Data since 2010 for branches of

domestic commercial banks
located in U.S.-affiliated areas.
13. Savings institutions

None.
14. Credit unions

None.
15. Property-casualty insurance

companies
All data through 2011:Q3. Preliminary

data for 2011:Q4.
Final data for 2011:Q4.
16. Life insurance companies

All data through 2011:Q3. Preliminary

data for 2011:Q4.
Final data for 2011:Q4.
17. Private pension funds

Internal Revenue Service/Department of

Labor/Pension Benefit Guaranty
Corporation Form 5500 data through
2007.
Form 5500 data since 2007.
18. State and local government

employee retirement funds
Detailed data through 2008:Q2 from the

Census Bureau; sample data through
2011:Q4 from the Census Bureau.
Detailed data since 2008:Q2.
19. Federal government retirement

funds
Data from the Monthly Treasury

Statement of Receipts and Outlays, the
Thrift Savings Plan, and the National
Railroad Retirement Investment Trust
through 2011:Q4.
None.
6
20. Money market mutual funds
None.
21. Mutual funds

None.
22. Closed-end funds

None.
23. Exchange-traded funds

None.
24. Government-sponsored
enterprises
Data for Fannie Mae, FHLB, FICO,

FCS, and REFCORP through 2011:Q4.
Data for Freddie Mac and Farmer Mac
through 2011:Q3.
Data for Freddie Mac and Farmer

Mac for 2011:Q4.
25. Agency- and GSE-backed

mortgage pools
Data for Fannie Mae, and Ginnie Mae

through 2011:Q4. Data for Freddie Mac
and Farmer Mac through 2011:Q3.
Data for Freddie Mac and Farmer

Mac for 2011:Q4.
26. Issuers of asset-backed securities

(ABSs)
All data for private mortgage pools,

consumer credit, business loans, student
loans, consumer leases, and trade credit
securitization through 2011:Q4.
None.
27. Finance companies

None.
28. Real estate investment trusts

(REITs)
Final data from SNL Financial through

2011:Q3.
Final data from SNL Financial

for 2011:Q4.
29. Security brokers and dealers

Data for firms filing FOCUS and FOGS

reports through 2011:Q4.
None.
30. Funding corporations

Estimates for this sector are largely

residuals and are derived from data for
other sectors.
Z.1, March 8, 2012
D.1 Credit Market Debt Growth by Sector 1

In percent; quarterly figures are seasonally adjusted annual rates
Domestic nonfinancial sectors
Total
Total
Households
Home
mortgage
Business
Consumer
credit
Total
Corporate
State and
local
governments
Federal
government
Domestic
financial
sectors
Foreign
1980
1981
1982
1983
1984
9.5
10.4
10.4
12.0
14.8
8.4
7.6
5.6
11.1
12.7
10.9
7.2
4.8
10.2
11.4
1.0
5.5
5.0
12.1
18.4
10.1
12.9
9.9
9.2
16.1
8.4
13.6
10.2
8.1
16.3
6.9
8.0
11.2
11.4
11.4
11.8
11.6
19.7
18.9
16.9
14.5
18.2
13.6
13.4
17.9
14.3
12.2
7.5
8.3
3.7
1985
1986
1987
1988
1989
15.6
11.9
9.1
9.0
7.2
16.2
11.4
10.4
9.8
9.1
14.6
13.7
13.4
11.8
10.9
15.9
9.1
4.8
6.7
6.3
11.0
11.5
7.8
9.9
6.3
12.4
13.7
8.9
10.9
7.5
31.8
10.9
12.0
6.0
5.3
16.5
13.6
8.0
8.0
7.0
19.4
26.2
18.2
13.2
10.5
0.5
4.0
2.5
2.9
3.8
1990
1991
1992
1993
1994
6.5
4.3
4.5
4.7
4.6
6.9
5.1
5.4
6.1
7.8
8.9
7.0
6.5
5.5
5.6
1.9
-1.1
1.1
7.4
15.2
3.6
-2.1
-0.3
0.1
3.7
5.7
-1.9
0.9
1.1
4.8
5.0
9.2
1.5
5.3
-3.9
11.0
11.1
10.9
8.3
4.7
8.8
6.0
8.6
9.6
13.9
8.3
4.8
6.9
18.7
-2.4
1995
1996
1997
1998
1999
5.2
5.4
5.6
6.6
6.4
7.0
6.9
5.9
7.7
8.2
4.9
6.2
6.1
8.1
9.4
14.4
9.0
5.5
7.2
7.8
7.2
6.6
9.9
11.7
10.9
8.5
6.8
10.5
11.1
10.1
-5.5
-2.0
4.9
6.2
3.3
4.1
4.0
0.6
-1.4
-1.9
11.6
12.1
12.1
19.4
16.2
17.7
15.5
10.6
5.1
2.4
2000
2001
2002
2003
2004
5.0
6.3
7.4
8.1
9.2
9.0
9.4
10.6
12.0
11.0
8.7
10.6
13.3
14.6
13.5
11.4
8.6
5.6
5.3
5.6
9.4
5.9
3.0
2.2
6.5
8.6
4.8
1.1
1.6
4.4
1.4
8.8
11.1
8.3
11.9
-8.0
-0.2
7.6
10.9
9.0
11.0
10.7
9.7
10.7
8.9
8.4
-1.4
10.8
4.0
12.4
2005
2006
2007
2008
2009
9.2
8.7
8.5
6.0
3.1
11.1
10.0
6.7
0.1
-1.7
13.3
11.1
6.9
-0.5
-1.4
4.5
4.1
5.8
1.5
-4.4
9.0
11.1
13.6
6.2
-2.4
6.9
9.4
13.5
4.9
-1.8
5.5
3.7
5.4
0.7
3.9
7.0
3.9
4.9
24.2
22.7
9.4
10.0
12.6
5.6
-10.8
7.9
22.0
9.0
-10.6
12.4
2010
2011
4.1
3.7
-2.1
-0.9
-2.9
-2.1
-1.8
3.5
0.7
4.2
4.0
6.0
2.2
-1.9
20.2
11.4
-6.3
-3.9
4.2
-1.5
2005 -- Q1
Q2
Q3
Q4
8.9
8.7
8.6
9.4
9.8
11.5
11.1
10.3
11.7
13.4
13.6
12.0
5.1
5.0
4.3
3.4
7.8
8.2
8.2
10.7
5.6
5.8
6.0
9.7
7.8
5.2
5.0
3.7
9.4
4.7
5.2
7.9
8.3
9.8
5.4
12.8
4.6
7.8
9.7
8.5
2006 -- Q1
Q2
Q3
Q4
9.6
9.1
6.7
8.2
11.8
11.3
8.6
6.8
13.6
12.9
9.8
6.4
3.2
4.0
4.1
4.9
11.1
10.5
7.5
13.4
9.4
8.7
4.5
13.8
0.1
4.7
4.5
5.5
7.0
3.4
1.5
3.4
11.1
11.7
7.0
8.9
13.9
12.4
37.0
18.7
2007 -- Q1
Q2
Q3
Q4
8.4
8.3
8.5
7.7
7.3
7.3
6.3
5.3
8.3
7.7
6.1
4.7
5.0
5.6
6.7
5.2
11.5
13.9
14.0
12.5
10.0
14.2
14.8
12.4
6.8
5.9
4.2
4.3
6.0
1.2
5.8
6.1
11.0
10.1
16.6
10.0
12.9
18.2
1.4
3.0
2008 -- Q1
Q2
Q3
Q4
6.1
3.6
7.4
6.3
3.3
0.1
-0.9
-2.1
2.6
-0.6
-2.0
-2.1
4.9
3.5
-0.2
-2.1
9.2
7.7
5.6
1.8
9.1
7.1
4.7
-1.5
1.8
0.8
0.7
-0.5
9.4
5.9
36.5
38.3
6.1
5.8
6.7
3.2
10.4
-0.0
-28.5
-24.8
2009 -- Q1
Q2
Q3
Q4
4.3
4.1
2.0
1.6
-0.9
-1.7
-2.3
-1.8
0.1
-1.9
-2.3
-1.4
-3.6
-5.0
-4.1
-5.3
-0.1
-2.5
-3.8
-3.2
1.6
-1.9
-3.9
-3.1
2.1
4.2
3.8
5.1
24.4
27.2
18.7
13.8
-11.0
-13.7
-10.9
-8.7
11.3
12.7
15.9
7.6
2010 -- Q1
Q2
Q3
Q4
3.5
3.9
3.7
4.9
-3.1
-2.2
-2.2
-0.7
-4.8
-2.5
-2.5
-1.8
-3.9
-3.3
-2.2
2.3
-0.1
-1.3
1.8
2.5
5.1
1.7
5.0
4.0
2.4
-0.5
2.1
4.8
20.6
22.5
16.0
16.4
-8.1
-7.5
-4.8
-5.9
5.7
-2.0
6.3
6.8
2011 -- Q1
Q2
Q3
Q4
2.3
3.0
4.4
4.9
-1.9
-0.6
-1.2
0.3
-2.7
-2.4
-1.9
-1.5
2.2
3.6
1.4
6.9
4.1
4.4
3.6
4.6
6.3
6.7
4.7
6.0
-3.3
-3.5
0.0
-1.0
7.9
8.6
14.1
13.1
-0.8
-7.2
-3.6
-4.4
9.4
-1.1
-8.4
-5.5
1. Data shown are on an end-of-period basis.
Z.1, March 8, 2012
D.2 Credit Market Borrowing by Sector

Billions of dollars; quarterly figures are seasonally adjusted annual rates
Total
Total
Households
Home
mortgage
Business
Consumer
credit
Total
Corporate
State and
local
governments
Federal
government
Domestic
financial
sectors
Foreign
1980
1981
1982
1983
1984
342.9
409.7
451.8
572.9
791.7
108.0
106.5
84.3
174.6
221.2
90.2
67.0
47.4
105.1
127.3
3.4
19.8
18.8
48.2
81.7
135.3
190.0
164.4
165.7
320.8
71.9
124.7
105.7
91.4
202.6
22.2
27.6
41.7
47.3
52.5
77.4
85.5
161.3
185.2
197.2
73.2
105.1
93.0
104.4
157.8
24.2
23.5
16.0
17.3
8.4
1985
1986
1987
1988
1989
958.8
845.7
722.0
784.1
684.3
314.8
260.5
264.0
270.1
276.3
181.5
198.8
221.5
215.7
224.9
84.0
55.8
32.3
46.6
47.0
254.7
295.0
223.7
308.5
214.3
180.0
222.6
165.1
222.8
166.8
163.6
74.2
90.4
50.4
47.4
225.7
216.0
143.9
155.1
146.4
204.0
328.8
290.6
250.2
225.0
1.2
9.7
6.3
7.4
10.2
1990
1991
1992
1993
1994
655.5
469.8
511.9
560.1
575.9
230.2
180.8
201.9
240.5
328.4
200.1
174.6
173.1
156.3
166.5
15.1
-8.8
9.2
61.4
135.0
131.3
-80.5
-10.5
5.5
137.2
137.8
-48.4
22.0
26.8
122.6
47.1
91.2
16.5
57.9
-45.5
246.9
278.2
304.0
256.1
155.9
211.2
156.0
238.9
291.5
462.0
23.9
15.1
24.1
69.8
-11.2
1995
1996
1997
1998
1999
678.1
732.4
812.5
1005.5
1040.3
318.4
335.2
304.6
425.2
486.8
153.6
204.9
215.5
301.4
378.0
147.0
105.7
70.3
97.1
112.4
276.0
272.7
434.1
566.2
587.4
229.2
200.5
330.2
384.4
389.6
-60.8
-20.5
50.8
66.8
37.3
144.4
144.9
23.1
-52.6
-71.2
439.5
514.0
574.1
1026.8
1023.5
78.3
88.0
69.9
37.2
19.0
2000
2001
2002
2003
2004
864.2
1149.1
1418.7
1683.5
2068.7
579.2
659.2
810.4
1011.5
1044.3
383.3
507.1
704.5
874.9
929.0
176.5
150.6
105.2
105.9
117.2
563.9
390.1
206.2
155.4
475.7
366.1
224.6
51.6
76.6
219.4
16.9
105.5
144.6
120.5
186.8
-295.9
-5.6
257.6
396.0
361.9
807.3
872.0
886.6
1071.6
971.3
63.0
-11.2
93.4
43.0
155.3
2005
2006
2007
2008
2009
2324.7
2397.5
2539.5
1937.0
1052.1
1175.0
1172.1
867.0
13.7
-230.9
1042.3
987.8
677.2
-54.2
-145.3
100.4
95.4
139.3
38.8
-115.3
705.6
943.7
1288.5
664.1
-272.4
361.5
525.1
823.8
340.8
-132.3
137.2
98.3
146.9
20.0
111.5
306.9
183.4
237.1
1239.2
1443.9
1116.5
1300.2
1794.6
901.8
-1844.1
113.0
332.6
170.3
-226.2
211.7
2010
2011
1446.1
1368.3
-279.3
-113.9
-299.2
-213.2
-44.2
86.3
79.0
472.9
284.8
444.9
66.2
-58.6
1580.2
1067.9
-980.3
-556.4
88.2
-33.4
2005 -- Q1
Q2
Q3
Q4
2246.4
2251.1
2273.9
2527.5
1030.5
1250.2
1236.0
1183.3
917.3
1084.3
1136.5
1031.0
113.6
112.3
97.0
78.9
610.2
656.4
670.5
885.4
291.9
306.2
322.1
525.9
193.7
131.0
129.2
95.0
411.9
213.6
238.2
363.9
992.2
1190.9
674.7
1608.3
66.0
112.9
144.4
128.8
2006 -- Q1
Q2
Q3
Q4
2659.4
2576.2
1941.3
2413.0
1379.9
1368.0
1070.9
869.6
1210.3
1181.7
933.1
626.1
73.2
93.7
97.5
117.2
946.3
919.3
678.0
1231.3
526.5
495.5
263.2
814.9
3.8
124.1
118.7
146.4
329.4
164.8
73.6
165.7
1442.8
1557.8
961.2
1239.0
209.7
194.2
596.8
329.6
2007 -- Q1
Q2
Q3
Q4
2504.0
2542.5
2663.8
2447.5
942.1
963.2
848.3
714.3
818.6
772.5
622.6
495.0
121.9
137.9
166.8
130.7
1085.2
1355.5
1412.1
1301.4
612.9
891.9
958.1
832.3
184.8
163.4
116.6
122.6
291.9
60.4
286.8
309.2
1578.3
1491.8
2527.7
1580.6
243.3
350.1
28.3
59.6
2008 -- Q1
Q2
Q3
Q4
1974.1
1191.1
2460.0
2122.9
454.9
19.0
-131.2
-287.9
278.4
-60.1
-208.6
-226.4
125.4
89.7
-6.1
-53.8
986.0
842.0
625.2
203.2
630.3
500.0
339.4
-106.5
50.8
21.7
21.5
-14.1
482.4
308.4
1944.4
2221.7
995.7
956.2
1115.2
540.0
221.3
-0.1
-622.8
-503.3
2009 -- Q1
Q2
Q3
Q4
1478.5
1438.9
709.0
581.9
-120.5
-237.1
-317.1
-248.9
6.1
-195.2
-241.6
-150.4
-94.1
-128.6
-105.2
-133.0
-12.8
-283.6
-434.4
-359.0
118.3
-139.6
-282.5
-225.5
61.8
122.4
111.6
150.2
1550.0
1837.1
1348.9
1039.6
-1874.9
-2327.9
-1792.1
-1381.6
192.3
224.0
287.6
143.0
2010 -- Q1
Q2
Q3
Q4
1247.2
1388.6
1354.0
1794.5
-420.1
-297.3
-300.4
-99.6
-499.3
-254.6
-258.8
-183.9
-97.6
-82.1
-53.5
56.5
-10.1
-148.0
201.5
272.3
361.5
125.0
362.5
290.4
72.2
-15.9
62.0
146.6
1605.1
1849.8
1390.9
1475.1
-1257.3
-1107.9
-703.6
-852.2
119.1
-43.5
132.0
145.1
2011 -- Q1
Q2
Q3
Q4
839.9
1130.8
1636.2
1866.5
-254.9
-84.4
-159.3
43.1
-274.0
-243.5
-184.8
-150.3
52.6
87.5
34.6
170.4
453.1
495.3
411.9
531.3
464.5
500.4
353.3
461.3
-99.9
-106.5
1.0
-29.1
741.5
826.4
1382.6
1321.2
-112.0
-1010.4
-494.4
-608.9
212.7
-25.7
-195.3
-125.4
Z.1, March 8, 2012
D.3 Credit Market Debt Outstanding by Sector 1

Billions of dollars; quarterly figures are seasonally adjusted
Households
Home
mortgage
Business
Consumer
credit
Corporate
Federal
government
Domestic
financial
sectors
Total
Total
1980
1981
1982
1983
1984
3953.5
4361.7
4783.4
5359.2
6146.2
1399.4
1510.7
1580.3
1734.9
1947.7
926.5
998.2
1031.1
1116.2
1242.8
358.0
377.9
396.7
444.9
526.6
1474.7
1658.5
1807.6
1996.2
2320.6
918.2
1036.7
1127.1
1241.4
1447.6
344.4
372.1
413.8
461.1
513.6
735.0
820.5
981.8
1167.0
1364.2
578.1
682.4
778.1
882.7
1052.4
193.4
214.0
208.1
224.1
232.8
1985
1986
1987
1988
1989
7123.1
7966.3
8670.1
9450.7
10152.1
2283.3
2542.3
2760.3
3047.3
3316.2
1449.6
1648.3
1827.9
2054.2
2259.5
610.6
666.4
698.6
745.2
809.3
2572.0
2866.0
3117.4
3405.5
3644.3
1624.3
1845.9
2038.8
2238.9
2421.7
677.9
752.1
842.6
893.0
940.4
1589.9
1805.9
1949.8
2104.9
2251.2
1257.3
1593.6
1895.5
2145.8
2399.3
242.5
251.9
259.0
269.8
287.9
1990
1991
1992
1993
1994
10834.9
11301.4
11816.5
12391.4
12973.6
3575.6
3760.0
3961.9
4204.8
4532.5
2488.8
2667.0
2840.0
2998.7
3165.3
824.4
815.6
824.8
886.2
1021.2
3773.8
3686.4
3679.1
3697.1
3841.3
2557.6
2506.8
2530.4
2569.7
2699.3
987.4
1078.6
1095.1
1153.0
1107.5
2498.1
2776.4
3080.3
3336.5
3492.3
2613.6
2769.6
3024.1
3321.0
3791.1
318.2
350.4
372.4
468.2
443.1
1995
1996
1997
1998
1999
13667.5
14399.8
15210.8
16216.4
17291.3
4850.9
5186.1
5491.2
5916.4
6403.6
3318.9
3523.8
3739.3
4040.6
4416.3
1168.2
1273.9
1344.2
1441.3
1553.6
4133.1
4405.8
4837.9
5404.0
6025.8
2944.3
3144.9
3473.0
3857.4
4281.4
1046.7
1026.2
1076.9
1143.8
1181.0
3636.7
3781.7
3804.8
3752.2
3681.0
4233.5
4747.5
5301.4
6328.2
7349.4
567.6
657.2
723.6
783.2
748.2
2000
2001
2002
2003
2004
18165.4
19297.5
20716.1
22443.8
25264.5
6992.7
7651.8
8462.2
9503.8
10568.4
4798.4
5305.5
6010.0
6894.6
7838.5
1741.3
1891.8
1997.0
2102.9
2220.1
6589.7
6962.8
7169.0
7338.5
7815.7
4647.5
4855.1
4906.8
4997.5
5218.3
1197.9
1303.4
1447.9
1568.4
2485.4
3385.1
3379.5
3637.0
4033.1
4395.0
8157.8
9155.9
10042.5
10949.3
11935.5
814.5
865.4
1072.8
1253.3
1438.8
2005
2006
2007
2008
2009
27589.2
29985.0
32531.0
34468.0
35435.9
11743.4
12915.4
13782.4
13801.1
13570.2
8880.8
9868.5
10545.7
10496.5
10351.2
2320.6
2416.0
2555.3
2594.1
2478.9
8521.3
9463.4
10758.4
11417.6
11061.0
5579.9
6103.3
6933.6
7269.4
7052.9
2622.6
2720.9
2867.8
2887.8
2999.3
4701.9
4885.3
5122.3
6361.5
7805.4
12997.5
14296.5
16218.4
17119.8
15539.6
1513.9
1882.6
2126.3
1708.8
2090.3
2010
2011
36938.1
38314.6
13328.6
13222.9
10050.9
9840.5
2434.7
2521.0
11158.4
11631.3
7355.1
7800.0
3065.5
3006.8
9385.6
10453.6
14141.8
13580.0
2273.1
2239.7
2005 -- Q1
Q2
Q3
Q4
25826.1
26388.8
26957.3
27589.2
10826.0
11138.5
11447.5
11743.4
8067.8
8338.9
8623.0
8880.8
2248.5
2276.6
2300.8
2320.6
7968.3
8132.4
8300.0
8521.3
5291.3
5367.8
5448.4
5579.9
2533.9
2566.6
2598.9
2622.6
4498.0
4551.4
4610.9
4701.9
12183.6
12481.3
12576.5
12997.5
1455.3
1483.5
1519.6
1513.9
2006 -- Q1
Q2
Q3
Q4
28252.0
28896.5
29381.8
29985.0
12088.3
12430.3
12698.1
12915.4
9183.3
9478.8
9712.0
9868.5
2338.9
2362.3
2386.7
2416.0
8755.8
8986.1
9155.6
9463.4
5709.4
5833.7
5899.5
6103.3
2623.6
2654.6
2684.3
2720.9
4784.2
4825.4
4843.8
4885.3
13354.9
13746.5
13986.8
14296.5
1566.3
1614.9
1764.1
1882.6
2007 -- Q1
Q2
Q3
Q4
30617.5
31253.2
31919.1
32531.0
13151.0
13391.8
13603.9
13782.4
10073.2
10266.3
10422.0
10545.7
2446.4
2480.9
2522.6
2555.3
9741.2
10080.1
10433.1
10758.4
6262.9
6485.9
6725.5
6933.6
2767.1
2808.0
2837.1
2867.8
4958.2
4973.3
5045.0
5122.3
14818.3
15191.3
15823.2
16218.4
1924.0
2011.5
2018.6
2126.3
2008 -- Q1
Q2
Q3
Q4
33024.5
33322.3
33937.3
34468.0
13896.2
13900.9
13873.1
13801.1
10615.3
10600.3
10553.1
10496.5
2586.6
2609.1
2607.6
2594.1
11004.9
11215.4
11366.8
11417.6
7091.1
7216.1
7296.0
7269.4
2880.5
2885.9
2891.3
2887.8
5242.9
5320.0
5806.1
6361.5
16467.3
16706.3
16984.8
17119.8
2181.6
2181.6
2025.6
1708.8
2009 -- Q1
Q2
Q3
Q4
34847.2
35206.9
35384.2
35435.9
13771.0
13711.7
13632.4
13570.2
10498.0
10449.2
10388.8
10351.2
2570.6
2538.4
2512.1
2478.9
11424.0
11353.1
11244.5
11061.0
7308.5
7273.6
7203.0
7052.9
2903.2
2933.8
2961.7
2999.3
6749.0
7208.3
7545.5
7805.4
17033.0
16451.0
15968.8
15539.6
1756.8
1812.8
1884.7
2090.3
2010 -- Q1
Q2
Q3
Q4
35803.8
36151.0
36489.5
36938.1
13502.9
13428.6
13353.5
13328.6
10225.2
10161.6
10096.9
10050.9
2454.5
2433.9
2420.6
2434.7
11076.9
11039.9
11090.3
11158.4
7160.5
7191.8
7282.4
7355.1
3017.3
3013.3
3028.8
3065.5
8206.7
8669.1
9016.9
9385.6
14807.8
14530.8
14354.9
14141.8
2120.6
2109.7
2142.7
2273.1
2011 -- Q1
Q2
Q3
Q4
37148.1
37436.2
37845.2
38314.6
13264.9
13249.2
13209.3
13222.9
9982.4
9921.5
9875.3
9840.5
2447.8
2469.7
2478.4
2521.0
11271.7
11395.5
11498.5
11631.3
7471.1
7596.2
7684.6
7800.0
3040.5
3013.9
3014.1
3006.8
9571.0
9777.6
10123.3
10453.6
14113.8
13855.9
13732.2
13580.0
2326.3
2319.9
2271.1
2239.7
1. Data shown are on an end-of-period basis.
Total
State and
local
governments
Foreign
10
Z.1, March 8, 2012
F.1 Total Credit Market Borrowing and Lending (1)

2007
2008
2009
2010
2011
2010
Q3
1
2
3
4
5
6
7
Credit market borrowing

Household sector
Nonfinancial corporate business
Nonfinancial noncorporate business
State and local governments
Federal government
2011
Q4
Q1
Q2
Q3
Q4
4504.4
2612.6
-580.4
554.0
778.5
782.4
1087.3
940.5
94.7
946.4
1132.2
2539.5
1937.0
1052.1
1446.1
1368.3
1354.0
1794.5
839.9
1130.8
1636.2
1866.5
867.0
823.8
464.7
146.9
237.1
13.7
340.8
323.3
20.0
1239.2
-230.9
-132.3
-140.1
111.5
1443.9
-279.3
284.8
-205.9
66.2
1580.2
-113.9
444.9
28.0
-58.6
1067.9
-300.4
362.5
-161.0
62.0
1390.9
-99.6
290.4
-18.1
146.6
1475.1
-254.9
464.5
-11.4
-99.9
741.5
-84.4
500.4
-5.1
-106.5
826.4
-159.3
353.3
58.5
1.0
1382.6
43.1
461.3
70.0
-29.1
1321.2
3
4
5
6
7
Rest of the world
170.3
-226.2
211.7
88.2
-33.4
132.0
145.1
212.7
-25.7
-195.3
-125.4
Financial sectors
1794.6
901.8
-1844.1
-980.3
-556.4
-703.6
-852.2
-112.0
-1010.4
-494.4
-608.9
10
11
12
U.S.-chartered commercial banks

Foreign banking offices in U.S.
Bank holding companies
131.8
0.0
129.4
79.1
-0.2
84.0
-152.6
0.0
-10.3
-133.5
0.0
-42.6
-55.9
0.0
-82.9
-175.6
0.0
204.4
-111.9
0.0
-180.9
-15.6
0.0
44.3
-67.1
0.0
-186.9
-94.4
0.0
-107.7
-46.6
0.0
-81.3
10
11
12
13
14
Savings institutions
Credit unions
104.1
13.4
-67.1
8.3
-169.6
-14.1
-29.0
-0.4
-24.0
-2.0
-61.9
0.8
47.9
3.6
-39.9
-9.6
-33.3
-3.5
-63.6
3.7
40.9
1.6
13
14
15
16
17
18
Life insurance companies

Government-sponsored enterprises
Agency- and GSE-backed mortgage pools
ABS issuers
14.5
282.4
623.3
340.0
26.2
271.7
497.0
-408.1
-6.6
-475.3
415.3
-740.2
-3.2
-233.8
186.9
-520.3
1.8
-200.8
162.6
-270.2
-1.2
-372.1
159.7
-465.8
-0.8
-254.3
189.6
-431.3
1.8
11.1
263.7
-329.6
2.4
-479.9
146.5
-258.1
0.9
-138.3
124.0
-273.2
2.0
-196.0
116.3
-219.9
15
16
17
18
19
20
21
22
Finance companies
REITs
Brokers and dealers
Funding corporations
34.9
10.2
-4.0
114.5
-79.4
-53.8
77.7
466.4
-156.2
-50.0
-49.7
-434.8
-173.9
-2.1
36.9
-65.3
-38.7
31.1
-37.9
-39.5
-143.0
35.7
-19.2
134.5
-66.5
-40.2
134.4
-141.8
-9.7
44.5
-5.9
-67.1
-169.8
75.9
-72.7
36.3
40.2
25.9
-43.4
31.4
-15.3
-22.0
-29.7
-158.8
19
20
21
22
23
Credit market lending
4504.4
2612.6
-580.4
554.0
778.5
782.4
1087.3
940.5
94.7
946.4
1132.2
23
517.5
-94.3
122.0
324.3
-464.7
-254.1
1055.9
-494.5
-952.0
-659.1
246.8
24
502.2
-79.1
10.0
77.9
6.6
-6.0
-32.2
-10.9
-131.8
86.5
-140.4
9.6
-6.7
-36.6
296.1
188.0
13.9
-3.6
40.8
85.3
-381.6
3.1
0.6
-84.4
-2.4
-530.1
51.9
-3.3
46.2
181.3
962.2
-61.5
-0.6
76.8
79.0
-569.8
10.9
-0.1
-57.4
121.9
-781.2
8.5
0.3
-106.1
-73.5
-572.4
-0.2
1.0
-103.4
15.9
397.0
-7.0
1.3
-70.7
-73.8
25
26
27
28
29
24
25
26
27
28
29

Household sector
Federal government
30
Rest of the world
943.8
357.7
143.5
520.5
215.5
843.1
238.6
9.5
106.1
702.6
43.9
30
31
Financial sectors
3043.1
2349.1
-845.9
-290.9
1027.6
193.4
-207.2
1425.5
940.6
902.9
841.5
31
32
33
34
35
36
37
38
Monetary authority
Banks in U.S.-affiliated areas
Credit unions
-38.3
535.7
201.7
23.2
-6.4
63.0
35.3
245.4
531.1
100.8
13.9
-1.9
-276.1
40.0
1001.6
-116.8
-285.8
-16.0
-2.8
-249.6
33.1
271.5
-184.3
-30.8
22.1
-19.3
6.6
24.6
376.5
156.9
37.7
2.8
-4.9
-31.6
39.5
-221.5
107.7
472.2
180.3
-11.7
-23.7
-41.0
397.3
-48.1
-565.7
-40.7
-1.7
184.8
76.4
1043.0
-180.9
46.1
30.8
-5.1
-187.2
50.5
842.0
-128.9
102.8
-1.4
-9.6
-30.3
10.8
-133.8
401.1
111.2
20.7
-6.1
-53.4
24.5
-245.3
536.4
-109.2
-38.9
1.3
144.6
72.0
32
33
34
35
36
37
38
39
40
41
42
43
Property-casualty insurance companies

Private pension funds
State and local govt. retirement funds
Federal government retirement funds
5.3
84.8
102.5
12.3
11.7
-15.9
11.6
90.6
13.3
24.2
33.3
139.8
111.6
-8.8
7.4
3.9
151.6
108.0
-8.2
11.0
-6.0
153.1
101.9
16.0
19.3
19.7
202.8
97.5
-14.0
18.9
-6.3
161.1
129.5
2.8
1.5
20.4
168.3
78.6
34.2
13.9
-19.3
106.4
105.9
-18.1
15.8
0.7
221.7
111.3
60.3
32.4
-25.6
115.9
111.6
-12.2
15.2
39
40
41
42
43
44
45
46
47
48
49
50
Money market mutual funds

Mutual funds
Closed-end funds
Exchange-traded funds
ABS issuers
375.6
271.1
-0.9
13.3
239.0
623.3
337.1
738.6
73.3
-41.1
23.0
242.9
497.0
-391.6
-644.0
380.7
9.6
46.0
-337.8
415.3
-705.6
-410.0
374.3
5.0
29.7
-328.2
186.9
-510.5
7.2
421.5
-1.1
38.8
-199.4
162.6
-265.6
-345.3
565.3
8.9
35.2
-493.2
159.7
-465.9
-319.4
250.8
6.7
-3.2
-195.6
189.6
-421.6
58.5
527.5
8.5
21.7
21.8
263.7
-336.3
-109.8
388.9
2.6
43.6
-297.1
146.5
-248.1
109.8
220.2
-19.4
45.7
-358.8
124.0
-258.4
-29.6
549.4
3.7
44.1
-163.5
116.3
-219.7
44
45
46
47
48
49
50
51
52
53
54
Finance companies
REITs
Brokers and dealers
16.6
-19.9
219.7
-62.7
-72.3
-68.9
-85.7
657.1
-223.3
-8.7
-192.1
-233.0
-141.7
37.1
32.2
77.9
-55.6
114.7
9.7
-66.3
-159.2
59.3
76.2
-34.6
-50.4
53.3
-94.3
86.2
-53.3
207.8
69.2
-476.2
-108.7
175.8
31.1
-60.3
-84.1
89.2
-107.9
352.0
23.8
-14.2
46.4
-80.8
51
52
53
54
(1) Excludes corporate equities and mutual fund shares.
11
Z.1, March 8, 2012
F.2 Credit Market Borrowing by Nonfinancial Sectors

2007
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
Domestic
By instrument
Commercial paper
Treasury securities
Agency- and GSE-backed securities
Municipal securities
Corporate bonds
Bank loans n.e.c.
Other loans and advances
Mortgages
Home
Multifamily residential
Commercial
Farm
Consumer credit
By sector
Household sector
Nonfinancial business
Corporate
Noncorporate
Federal government
2008
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
2539.5
1937.0
1052.1
1446.1
1368.3
1354.0
1794.5
839.9
1130.8
1636.2
1866.5
2539.5
11.3
237.5
-0.4
235.9
311.2
240.2
311.0
1937.0
7.7
1239.0
0.2
95.3
204.6
192.5
74.9
1052.1
-73.1
1443.7
0.1
154.5
377.2
-296.0
-154.2
1446.1
24.5
1579.6
0.7
97.7
420.6
-33.0
-85.3
1368.3
33.3
1066.8
1.1
-52.2
376.0
150.6
36.8
1354.0
43.8
1390.4
0.5
76.9
510.6
-84.3
-50.3
1794.5
-58.7
1474.4
0.8
192.4
507.7
62.0
-71.9
839.9
25.9
740.4
1.2
-74.3
393.5
110.9
-8.2
1130.8
49.6
826.2
0.2
-110.3
451.9
212.0
16.2
1636.2
29.7
1380.7
1.9
-9.6
306.7
137.6
62.4
1866.5
27.9
1320.0
1.1
-14.7
351.9
142.0
76.9
2
3
4
5
6
7
8
9
1053.5
714.0
84.4
250.4
4.6
139.3
84.0
-111.3
46.2
127.1
22.0
38.8
-285.0
-199.2
7.5
-90.0
-3.4
-115.3
-514.5
-343.3
-10.2
-165.9
4.9
-44.2
-330.4
-238.6
3.4
-91.1
-4.0
86.3
-480.0
-293.6
0.8
-192.2
5.0
-53.5
-368.8
-207.2
-7.4
-159.2
5.0
56.5
-402.0
-305.7
0.9
-93.3
-4.0
52.6
-402.5
-272.1
-0.6
-125.8
-4.0
87.5
-308.0
-207.0
4.6
-101.5
-4.1
34.6
-209.0
-169.7
8.6
-43.8
-4.1
170.4
10
11
12
13
14
15
2539.5
867.0
1288.5
823.8
464.7
146.9
237.1
1937.0
13.7
664.1
340.8
323.3
20.0
1239.2
1052.1
-230.9
-272.4
-132.3
-140.1
111.5
1443.9
1446.1
-279.3
79.0
284.8
-205.9
66.2
1580.2
1368.3
-113.9
472.9
444.9
28.0
-58.6
1067.9
1354.0
-300.4
201.5
362.5
-161.0
62.0
1390.9
1794.5
-99.6
272.3
290.4
-18.1
146.6
1475.1
839.9
-254.9
453.1
464.5
-11.4
-99.9
741.5
1130.8
-84.4
495.3
500.4
-5.1
-106.5
826.4
1636.2
-159.3
411.9
353.3
58.5
1.0
1382.6
1866.5
43.1
531.3
461.3
70.0
-29.1
1321.2
16
17
18
19
20
21
22
23
Foreign borrowing in U.S.
170.3
-226.2
211.7
88.2
-33.4
132.0
145.1
212.7
-25.7
-195.3
-125.4
23
24
25
26
27
Commercial paper
Bonds
Bank loans n.e.c.
-69.3
218.7
24.1
-3.2
-71.0
-158.8
5.1
-1.5
59.4
163.2
-11.2
0.3
-2.7
72.8
17.9
0.2
-53.8
-8.4
29.2
-0.3
13.9
89.8
28.2
0.1
55.8
58.9
29.9
0.5
120.2
44.2
47.9
0.5
-51.9
14.0
13.7
-1.5
-256.9
19.1
41.7
0.8
-26.7
-111.0
13.3
-1.0
24
25
26
27
2709.8
1710.8
1263.8
1534.2
1334.9
1486.0
1939.6
1052.6
1105.1
1440.9
1741.0
28
28
Domestic and foreign
F.3 Credit Market Borrowing by Financial Sectors

1
2
3
4
5
6
7
8
9
By instrument
Open market paper
GSE issues
Agency- and GSE-backed mortgage pool sec.
Corporate bonds
Bank loans n.e.c.
Mortgages
By sector
1794.6
901.8
-1844.1
-980.3
-556.4
-703.6
-852.2
-112.0
-1010.4
-494.4
-608.9
-111.4
282.4
623.3
699.0
70.9
225.8
4.7
-125.6
271.7
497.0
-277.5
496.1
33.3
6.8
-448.2
-475.3
415.3
-589.2
-467.5
-282.6
3.4
-101.7
-233.8
186.9
-596.9
-90.2
-144.7
0.2
-67.6
-200.8
162.6
-343.1
-47.4
-67.3
7.2
189.6
-372.1
159.7
-336.6
-103.4
-244.0
3.1
-206.0
-254.3
189.6
-477.2
-62.1
-37.3
-5.0
92.2
11.1
263.7
-399.0
-46.7
-40.4
7.1
-99.8
-479.9
146.5
-382.4
-115.8
-97.4
18.4
31.0
-138.3
124.0
-334.6
-39.7
-141.2
4.2
-294.0
-196.0
116.3
-256.4
12.4
9.8
-0.9
2
3
4
5
6
7
8
1794.6
901.8
-1844.1
-980.3
-556.4
-703.6
-852.2
-112.0
-1010.4
-494.4
-608.9
10
11
12

131.8
0.0
129.4
79.1
-0.2
84.0
-152.6
0.0
-10.3
-133.5
0.0
-42.6
-55.9
0.0
-82.9
-175.6
0.0
204.4
-111.9
0.0
-180.9
-15.6
0.0
44.3
-67.1
0.0
-186.9
-94.4
0.0
-107.7
-46.6
0.0
-81.3
10
11
12
13
14
Credit unions
104.1
13.4
-67.1
8.3
-169.6
-14.1
-29.0
-0.4
-24.0
-2.0
-61.9
0.8
47.9
3.6
-39.9
-9.6
-33.3
-3.5
-63.6
3.7
40.9
1.6
13
14
15
16
17
18

ABS issuers
14.5
282.4
623.3
340.0
26.2
271.7
497.0
-408.1
-6.6
-475.3
415.3
-740.2
-3.2
-233.8
186.9
-520.3
1.8
-200.8
162.6
-270.2
-1.2
-372.1
159.7
-465.8
-0.8
-254.3
189.6
-431.3
1.8
11.1
263.7
-329.6
2.4
-479.9
146.5
-258.1
0.9
-138.3
124.0
-273.2
2.0
-196.0
116.3
-219.9
15
16
17
18
19
20
21
22
Finance companies
REITs
Brokers and dealers
34.9
10.2
-4.0
114.5
-79.4
-53.8
77.7
466.4
-156.2
-50.0
-49.7
-434.8
-173.9
-2.1
36.9
-65.3
-38.7
31.1
-37.9
-39.5
-143.0
35.7
-19.2
134.5
-66.5
-40.2
134.4
-141.8
-9.7
44.5
-5.9
-67.1
-169.8
75.9
-72.7
36.3
40.2
25.9
-43.4
31.4
-15.3
-22.0
-29.7
-158.8
19
20
21
22
12
Z.1, March 8, 2012
F.4 Credit Market Borrowing, All Sectors, by Instrument

2007
2008
2009
2010
2011
2010
Q3
1
2
3
4
5
6
7
8
9
10
Total
2011
Q4
Q1
Q2
Q3
Q4
4504.4
2612.6
-580.4
554.0
778.5
782.4
1087.3
940.5
94.7
946.4
1132.2
Open market paper

Treasury securities
Corporate and foreign bonds
-169.4
237.5
905.3
235.9
1228.9
-189.0
1239.0
768.9
95.3
-231.7
-461.9
1443.7
-59.9
154.5
-48.7
-79.9
1579.6
-46.2
97.7
-103.5
-88.2
1066.8
-37.1
-52.2
24.5
247.3
1390.4
-211.8
76.9
263.7
-208.8
1474.4
-64.0
192.4
89.5
238.2
740.4
276.0
-74.3
38.7
-102.1
826.2
-333.3
-110.3
83.5
-196.1
1380.7
-12.4
-9.6
-8.8
-292.9
1320.0
-78.6
-14.7
-15.5
2
3
4
5
6
Bank loans n.e.c.

Mortgages
Consumer credit
335.1
533.6
1058.2
139.3
693.7
106.7
90.8
38.8
-774.6
-436.5
-281.6
-115.3
-105.4
-229.8
-514.3
-44.2
132.3
-30.8
-323.1
86.3
-159.5
-294.2
-477.0
-53.5
29.8
-108.7
-373.8
56.5
112.1
-48.1
-394.9
52.6
109.9
-82.7
-384.1
87.5
139.7
-78.0
-303.7
34.6
167.7
85.7
-209.9
170.4
7
8
9
10
Memo:
Funds raised through corporate equities and mutual fund shares
11
12
13
14
15
16
Total net issues

Corporate equities
Nonfinancial
Foreign shares purchased by
U.S. residents
Financial
Mutual fund shares
-95.8
294.0
803.9
381.2
164.7
510.0
329.9
958.8
220.4
-462.0
-58.6
11
-460.5
-786.8
263.1
-336.0
313.4
-64.6
-8.0
-278.0
-246.6
-489.9
-60.3
-336.5
-75.6
-360.9
-46.2
-325.6
-206.2
-512.5
-233.9
-606.6
-500.2
-514.8
12
13
147.8
178.6
364.7
-38.5
637.6
31.0
63.6
314.3
490.5
79.1
190.8
389.3
90.1
153.1
411.3
67.6
208.6
570.3
114.8
170.5
405.5
188.5
90.9
1005.0
107.8
198.5
426.6
91.2
281.4
-228.0
-27.0
41.6
441.6
14
15
16
F.5 Net Increase in Liabilities and Its Relation to Net Acquisition of Financial Assets
Net flows through credit markets

(from table F.4, line 1)
4504.4
2612.6
-580.4
554.0
778.5
782.4
1087.3
940.5
94.7
946.4
1132.2
U.S. official reserve assets

SDR certificates
Treasury currency
Foreign deposits
0.1
0.0
-0.7
256.0
4.8
0.0
-0.8
-394.3
99.9
3.0
-0.4
-106.1
1.8
0.0
-0.3
71.7
21.7
0.0
0.0
-16.1
4.4
0.0
-1.1
33.6
-0.8
0.0
0.0
97.4
14.5
0.0
0.0
181.8
25.1
0.0
0.0
-64.1
16.3
0.0
0.0
-32.7
31.1
0.0
0.0
-149.4
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
-97.5
36.7
316.4
283.4
720.9
1801.9
568.4
524.8
-190.6
724.2
-609.0
-7.9
517.2
-141.8
-499.0
-185.8
266.3
298.4
-182.3
-502.9
821.9
232.8
577.9
-204.7
-112.8
-305.2
112.0
453.7
94.2
-130.6
274.7
476.9
363.6
-149.7
-195.1
2989.5
-511.1
99.1
116.2
-92.6
128.2
510.3
914.1
1.9
-60.3
400.7
426.4
749.2
-687.1
-318.7
-231.0
505.7
549.2
-249.9
20.3
6
7
8
9
10
11
12
13
14
Security RPs
Corporate equities
Mutual fund shares
Trade payables
8.1
-460.5
364.7
202.0
-889.5
263.1
31.0
-170.0
207.8
313.4
490.5
-23.8
-201.3
-8.0
389.3
198.8
-124.5
-246.6
411.3
275.9
-340.8
-60.3
570.3
323.3
-29.8
-75.6
405.5
101.3
104.9
-46.2
1005.0
324.5
-182.0
-206.2
426.6
226.1
-814.0
-233.9
-228.0
272.2
393.1
-500.2
441.6
280.8
11
12
13
14
15
16
17
18
Security credit
Life insurance reserves
Pension fund reserves
Taxes payable
276.5
34.2
201.1
-69.3
-397.9
67.0
125.7
-123.8
-95.9
26.5
135.4
-3.4
123.6
17.2
208.9
11.2
97.6
59.8
139.8
20.3
105.2
49.0
219.9
28.4
203.7
5.3
258.2
33.0
128.2
36.4
140.1
62.7
273.2
57.8
-114.3
-32.2
222.0
110.7
439.2
-6.2
-233.0
34.5
94.1
56.7
15
16
17
18
19
20
Noncorporate proprietors equity

Miscellaneous
15.3
2447.3
-288.5
2050.5
-13.2
-461.3
49.7
1066.7
-38.2
1111.3
16.5
1390.4
-21.3
84.5
-20.7
1295.7
-26.1
1131.7
-49.1
1148.2
-57.0
869.6
19
20
2
3
4
5
21
Total financial sources
9039.1
6318.6
-748.5
2177.0
3805.8
3345.3
2919.3
6768.5
3104.3
2361.6
2988.6
21
22
23
24
25
26
27
- Liabilities not identified as assets:

Treasury currency
Foreign deposits
Net interbank liabilities
Security RPs
Taxes payable
Miscellaneous
-1.2
196.5
1.8
-231.4
-36.5
25.8
-0.8
-347.1
30.6
-604.9
-64.0
1959.2
-4.4
-74.4
34.4
466.5
-41.6
-348.7
-1.1
18.2
-20.2
-85.4
-58.0
339.2
-0.7
10.7
27.6
-128.4
-54.6
122.4
-1.9
-56.8
61.0
-393.0
-45.4
328.8
-0.5
36.2
136.6
39.1
-61.5
9.0
-1.0
136.2
54.0
-378.3
-24.7
43.7
-0.7
-99.8
-241.2
-234.0
-73.6
228.5
-0.5
50.6
174.4
-141.5
-135.5
589.6
-0.5
-44.0
123.0
240.3
15.2
-372.2
22
23
24
25
26
27
28
29
30
31
- Floats not included in assets:

Checkable deposits: State and local govt.
Federal govt.
Private domestic
Trade credit
0.0
1.2
-0.1
-53.0
0.0
-3.3
-2.0
12.8
0.0
0.7
-1.0
77.4
0.0
0.0
-1.1
67.5
0.0
0.1
0.9
81.2
0.0
1.1
1.4
135.5
0.0
3.7
-3.0
-50.0
0.0
-62.7
1.3
145.9
0.0
62.6
0.2
18.6
0.0
-4.5
2.9
67.9
0.0
4.9
-0.9
92.6
28
29
30
31
32
Totals identified to sectors

as assets
9136.1
5338.0
-857.5
1918.0
3746.5
3314.7
2809.6
6854.1
3443.6
1758.3
2930.0
32
13
Z.1, March 8, 2012
F.6 Distribution of Gross Domestic Product (1)

2007
2008
2009
2010
2011
2010
Q3
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
8
9
10
11
12
Nonresidential
Household sector (nonprofit organizations)
Financial institutions
13
14
15
16
17
Residential
Household sector
REITs
2011
Q4
Q1
Q2
Q3
Q4
14028.7
14291.5
13938.9
14526.6
15094.4
14605.5
14755.0
14867.8
15012.8
15176.1
15320.8
9772.3
10035.5
9866.1
10245.5
10726.4
10276.6
10417.1
10571.7
10676.0
10784.5
10873.6
1188.4
2175.5
6408.3
1108.9
2272.8
6653.8
1029.6
2167.8
6668.7
1085.5
2301.5
6858.5
1162.3
2483.1
7081.0
1087.5
2299.0
6890.1
1124.7
2358.7
6933.7
1154.5
2437.8
6979.4
1143.8
2478.9
7053.3
1158.3
2503.0
7123.2
1192.7
2512.9
7168.0
3
4
5
2295.2
2087.6
1546.8
1795.1
1914.6
1850.5
1818.0
1853.1
1895.3
1906.6
2003.6
2266.1
2128.7
1707.6
1728.2
1867.6
1743.8
1779.3
1791.1
1841.7
1905.8
1931.8
1637.5
120.2
1104.7
225.0
187.5
1656.3
132.0
1130.9
198.4
195.0
1353.0
123.6
903.9
157.4
168.1
1390.1
118.8
928.2
161.4
181.7
1530.2
120.3
1027.0
187.0
195.9
1416.5
119.4
947.2
165.1
184.9
1447.9
119.3
972.4
168.7
187.5
1460.5
117.3
979.7
174.2
189.2
1506.0
120.2
1011.1
181.4
193.3
1568.7
122.0
1053.1
193.4
200.3
1585.7
121.5
1064.2
199.0
201.0
8
9
10
11
12
628.7
541.7
15.7
80.5
-9.3
472.4
397.2
5.5
69.6
0.1
354.7
296.0
4.4
54.4
-0.1
338.1
287.7
-2.1
47.8
4.7
337.3
286.5
3.7
48.3
-1.2
327.3
278.3
-5.5
46.8
7.7
331.3
281.6
0.8
47.3
1.7
330.6
281.0
0.7
47.2
1.6
335.7
285.1
-1.2
48.0
3.9
337.0
286.2
-6.6
48.2
9.3
346.1
293.8
22.1
49.7
-19.5
13
14
15
16
17
29.1
28.2
0.9
-41.1
-40.2
-0.9
-160.8
-151.5
-9.3
66.9
64.7
2.2
47.0
50.2
-3.2
106.7
105.8
0.9
38.7
41.4
-2.7
62.0
65.7
-3.7
53.6
58.1
-4.5
0.8
4.8
-4.0
71.7
72.2
-0.5
18
19
20
18
19
20
Change in private inventories

21
Net U.S. exports of goods and services
-713.1
-709.7
-391.5
-516.9
-576.9
-540.3
-500.2
-571.3
-597.1
-562.3
-576.7
21
22
23
Exports
- Imports
1661.7
2374.8
1846.8
2556.5
1583.0
1974.6
1839.8
2356.7
2087.5
2664.4
1860.6
2400.9
1935.3
2435.5
2024.1
2595.4
2085.3
2682.4
2119.2
2681.6
2121.4
2698.1
22
23
24
Government consumption expenditures and

gross investment
2674.2
2878.1
2917.5
3002.8
3030.2
3018.7
3020.2
3014.4
3038.6
3047.3
3020.4
24
2217.8
848.9
1368.9
2381.0
931.7
1449.2
2412.2
986.6
1425.5
2497.5
1054.0
1443.5
2547.8
1072.6
1475.2
2505.6
1066.6
1438.9
2509.7
1059.6
1450.1
2530.7
1059.1
1471.7
2560.4
1077.5
1482.9
2561.0
1084.9
1476.1
2539.1
1068.8
1470.2
25
26
27
456.5
127.4
329.0
497.2
148.4
348.8
505.4
156.1
349.3
505.3
168.8
336.5
482.4
160.3
322.1
513.1
170.8
342.3
510.5
174.7
335.9
483.6
160.9
322.8
478.2
159.6
318.6
486.3
164.0
322.3
481.4
156.6
324.8
28
29
30
123.3
871.0
747.7
169.2
856.1
686.9
152.3
639.8
487.5
189.4
702.9
513.5
266.0
797.0
531.0
207.4
708.9
501.6
184.4
729.4
545.0
227.1
752.1
525.0
261.2
803.2
542.0
267.3
792.2
524.9
308.2
840.4
532.3
31
32
33
14151.9
14460.7
14091.2
14715.9
15360.3
14812.8
14939.4
15094.9
15274.0
15443.4
15629.0
34
-11.3
-1.7
13.8
-1.3
0.5
-11.2
16.3
14.1
-19.2
-0.0
-11.2
3.9
14.4
-7.1
0.0
-11.3
-3.4
14.5
0.2
0.0
-12.0
-3.5
15.5
-0.1
0.1
-11.4
-5.0
14.6
1.8
0.0
-11.6
-3.4
14.8
0.1
0.0
-11.8
-3.6
15.2
0.3
0.0
-12.1
-3.2
15.5
-0.2
0.0
-12.2
-2.8
15.7
-0.6
0.0
-12.0
-4.4
15.8
0.2
0.3
35
36
37
38
39
25
26
27
Consumption expenditures (3)

Federal
State and local
28
29
30
Gross investment (3)

Federal
State and local
Memo:
31
32
33
Net U.S. income receipts from rest of the world

U.S. income receipts
- U.S. income payments
34
Gross National Product (GNP) =

GDP + net U.S. income receipts
35
36
37
38
39
Acquisition of nonproduced nonfinancial assets (net)

Household sector
Federal governments
Rest of the world
(1) This table is based on NIPA table 1.1.5 in the Survey of Current Business, Bureau of Economic Analysis (www.bea.gov).
(2) Component of personal outlays, found on table F.100, line 4.
(3) Government inventory investment is included in consumption expenditures.
14
Z.1, March 8, 2012
F.7 Distribution of National Income (1)

2007
1
2
3
4
5
National Income
Compensation of employees
Wages and other labor income
Employer social insurance contributions
Wage accruals less disbursements
Proprietors income with inventory

valuation and capital consumption adjustments
Rental income of persons (with capital
consumption adjustment)
Corporate profits with inventory

valuation and capital consumption adjustments
Corporate profits with inventory

valuation adjustment
2008
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
12396.4
12609.1
12147.6
12840.1
13427.8
12942.1
13018.8
13232.6
13344.1
13519.3
13615.3
7855.9
7402.2
459.9
-6.3
8068.3
7603.2
470.1
-5.0
7806.4
7343.4
458.0
5.0
7971.4
7498.2
473.2
0.0
8293.0
7794.5
498.5
0.0
8022.2
7546.5
475.7
0.0
8050.8
7573.9
476.9
0.0
8172.5
7681.1
491.4
0.0
8219.7
7725.7
494.0
0.0
8338.3
7837.0
501.3
0.0
8441.3
7934.0
507.3
0.0
2
3
4
5
1090.4
1097.9
941.2
1036.4
1108.8
1057.0
1081.5
1095.6
1106.5
1113.7
1119.3
143.7
231.6
305.9
350.2
403.6
352.8
354.8
385.0
396.9
406.3
426.1
1510.6
1248.4
1362.0
1800.1
1932.1
1833.1
1857.4
1876.4
1937.6
1970.1
1944.3
1691.1
1315.5
1456.3
1780.4
1825.5
1812.6
1652.2
1761.1
1830.2
1867.4
1843.4
1738.4
1042.0
345.5
350.9
1359.9
831.2
122.2
406.6
1455.7
693.5
401.8
360.4
1819.5
942.8
494.7
381.9
1884.8
1000.2
453.2
431.4
1844.5
961.5
487.8
395.3
1742.5
848.9
520.8
372.9
1877.1
974.8
491.5
410.8
1890.6
1006.3
438.9
445.4
1912.9
1013.4
448.7
450.8
1858.7
1006.2
433.8
418.7
10
11
12
13
445.5
293.8
151.7
309.0
227.4
81.6
272.4
175.0
97.4
411.1
229.3
181.8
412.1
245.0
167.1
430.3
239.4
190.9
404.7
212.4
192.3
422.3
238.5
183.8
420.5
252.2
168.3
411.4
250.1
161.3
394.4
239.3
155.1
14
15
16
10
11
12
13
Profits before tax

Domestic nonfinancial
Domestic financial
Rest of the world
14
15
16
Less:
Taxes on corporate income
Domestic financial
17
18
19
20
21
Equals:
Profits after tax
Net dividends
Domestic financial
Rest of the world
1292.9
794.5
484.6
165.2
144.8
1050.9
786.9
474.1
132.2
180.5
1183.3
620.0
349.0
167.4
103.6
1408.4
737.3
398.8
216.5
122.0
1472.7
814.3
445.3
200.8
168.2
1414.2
760.5
406.0
223.3
131.2
1337.8
774.8
432.3
227.5
115.0
1454.8
793.8
422.0
222.2
149.6
1470.1
807.4
459.2
204.9
143.3
1501.5
821.4
434.0
176.6
210.8
1464.3
834.6
466.0
199.4
169.2
17
18
19
20
21
22
23
24
25
Undistributed profits
Domestic financial
Rest of the world
498.4
263.6
28.7
206.1
264.0
129.6
-91.7
226.1
563.3
169.5
137.0
256.8
671.1
314.7
96.4
259.9
658.4
309.8
85.3
263.2
653.7
316.0
73.6
264.1
563.0
204.2
100.9
257.9
660.9
314.3
85.5
261.1
662.7
294.9
65.7
302.1
680.1
329.3
110.8
240.0
629.7
300.9
79.3
249.5
22
23
24
25
26
Inventory valuation adjustment
-47.2
-44.5
0.6
-39.1
-59.3
-32.0
-90.3
-116.0
-60.4
-45.5
-15.3
26
27
28
29
Capital consumption adjustment

Domestic financial
-180.5
-158.8
-21.7
-67.1
-31.7
-35.4
-94.3
-52.0
-42.3
19.7
47.8
-28.1
106.6
126.3
-19.7
20.5
48.3
-27.8
205.2
214.1
-8.8
115.4
133.6
-18.2
107.3
127.2
-19.9
102.7
123.1
-20.4
100.9
121.4
-20.5
27
28
29
30
Net interest and miscellaneous payments
31
32
33
34
Taxes on production and imports

Less: Subsidies
Business current transfer payments (net)
Current surplus of government enterprises
731.6
870.1
656.7
564.3
535.7
550.1
548.7
556.6
525.6
535.7
525.0
30
1027.2
54.6
103.3
-11.8
1038.6
52.9
123.0
-16.0
1017.9
59.7
132.0
-14.9
1054.0
57.3
136.7
-15.7
1098.7
62.8
134.1
-15.3
1059.0
57.0
140.9
-16.0
1065.5
59.1
135.7
-16.5
1087.4
60.0
134.7
-15.6
1101.1
62.7
133.9
-14.6
1100.0
64.2
133.7
-14.5
1106.1
64.4
134.3
-16.8
31
32
33
34
12396.4
12609.1
12147.6
12840.1
13427.8
12942.1
13018.8
13232.6
13344.1
13519.3
13615.3
35
1476.2
291.3
-12.0
1542.9
311.2
-2.4
1542.4
323.7
77.4
1540.9
334.0
0.8
1597.8
352.2
-23.4
1542.6
335.5
-7.4
1557.0
339.1
24.5
1570.5
343.8
-52.0
1590.5
349.4
-10.0
1607.6
355.2
-38.7
1622.7
360.5
7.2
36
37
38
123.3
169.2
152.3
189.4
266.0
207.4
184.4
227.1
261.2
267.3
308.2
39
14028.7
14291.5
13938.9
14526.6
15094.4
14605.5
14755.0
14867.8
15012.8
15176.1
15320.8
40
Memo:
Calculation of Gross Domestic Product
from National Income: (2)
35
National Income, from line 1 above
36
37
38
Plus:
Private consumption of fixed capital
Government consumption of fixed capital
Statistical discrepancy
39
Less:
Net U.S. income receipts from rest of the world
40
Equals:
Gross Domestic Product
(1) This table corresponds to NIPA table 1.12 in the Survey of Current Business, Bureau of Economic Analysis (www.bea.gov).
(2) The relationship of National Income to Gross Domestic Product is shown on NIPA table 1.7.5 in the Survey of Current Business, Bureau of Economic Analysis.
15
Z.1, March 8, 2012
F.8 Saving and Investment by Sector (1)

2007
2008
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
Gross saving
2047.7
1908.2
1597.3
1820.4
1959.6
1883.2
1839.3
1895.2
1890.5
1989.4
2063.1
2
3
4
5
6
7
8
9
10
Net saving
Net private saving
Domestic business
Financial business
Households and institutions
Net government saving
Federal
State and local
280.2
513.2
270.7
226.3
44.3
242.5
-233.0
-245.2
12.2
54.1
739.8
152.5
237.5
-85.0
587.3
-685.7
-613.5
-72.2
-268.8
1027.1
469.6
325.6
143.9
557.6
-1296.0
-1217.9
-78.1
-54.5
1244.5
651.7
533.7
118.0
592.8
-1299.0
-1273.7
-25.3
9.5
1253.3
705.6
611.7
94.0
547.6
-1243.8
-1182.1
-61.7
5.0
1267.9
642.3
547.4
94.9
625.6
-1262.9
-1257.7
-5.2
-56.8
1266.0
677.9
575.8
102.1
588.1
-1322.8
-1287.3
-35.5
-19.1
1239.2
660.3
564.3
96.0
578.9
-1258.3
-1201.1
-57.2
-49.4
1266.2
709.6
608.3
101.4
556.5
-1315.6
-1275.4
-40.2
26.6
1270.4
737.3
625.1
112.3
533.1
-1243.9
-1160.7
-83.2
80.0
1237.3
715.3
649.1
66.3
522.0
-1157.3
-1091.3
-66.1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Consumption of fixed capital

Private
Domestic business
Financial business
Government
Federal
State and local
1767.5
1476.2
1190.7
840.1
210.1
140.6
285.5
291.3
112.6
178.7
1854.1
1542.9
1248.3
864.3
211.3
172.7
294.6
311.2
120.0
191.2
1866.2
1542.4
1249.9
862.2
210.8
176.9
292.5
323.7
124.7
199.0
1874.9
1540.9
1245.7
856.8
209.7
179.1
295.2
334.0
130.0
204.0
1950.0
1597.8
1294.4
890.1
215.8
188.5
303.4
352.2
137.9
214.3
1878.2
1542.6
1247.2
857.7
209.7
179.8
295.4
335.5
130.5
205.0
1896.1
1557.0
1258.7
865.4
210.8
182.5
298.4
339.1
132.3
206.8
1914.3
1570.5
1270.1
873.4
212.4
184.3
300.4
343.8
134.6
209.2
1939.9
1590.5
1287.8
885.4
214.8
187.6
302.7
349.4
136.8
212.6
1962.8
1607.6
1303.2
896.3
217.0
189.9
304.4
355.2
139.2
216.1
1983.2
1622.7
1316.4
905.4
219.0
192.0
306.3
360.5
141.0
219.5
11
12
13
14
15
16
17
18
19
20
21
Gross domestic investment, capital account

transactions, and net lending, NIPAs
2035.7
1905.8
1674.8
1821.3
1936.2
1875.7
1863.8
1843.2
1880.5
1950.7
2070.3
21
22
23
24
25
26
27
28
29
30
31
Gross domestic investment

Gross private domestic investment
Domestic business
Financial business
Gross government investment
Federal
State and local
2751.7
2295.2
1633.3
1162.2
283.7
187.5
661.9
456.5
127.4
329.0
2584.8
2087.6
1558.4
1096.2
267.2
195.0
529.2
497.2
148.4
348.8
2052.2
1546.8
1127.2
756.7
202.4
168.1
419.6
505.4
156.1
349.3
2300.4
1795.1
1388.6
995.5
211.4
181.7
406.5
505.3
168.8
336.5
2397.0
1914.6
1507.8
1088.3
223.6
195.9
406.8
482.4
160.3
322.1
2363.6
1850.5
1452.8
1055.0
212.9
184.9
397.7
513.1
170.8
342.3
2328.5
1818.0
1417.1
1017.7
212.0
187.5
400.9
510.5
174.7
335.9
2336.7
1853.1
1454.7
1052.1
213.4
189.2
398.4
483.6
160.9
322.8
2373.5
1895.3
1490.0
1079.4
217.2
193.3
405.3
478.2
159.6
318.6
2392.9
1906.6
1498.4
1068.0
230.1
200.3
408.2
486.3
164.0
322.3
2484.9
2003.6
1588.2
1153.7
233.5
201.0
415.3
481.4
156.6
324.8
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
Capital account transactions (net) (2)

Private
Domestic business
Financial business
Government
Federal
State and local
-0.1
-10.0
-1.7
-1.7
0.0
0.0
-8.3
10.0
55.0
-45.1
-5.4
-71.0
-51.2
12.6
-3.3
-60.5
-19.8
65.6
114.3
-48.7
0.6
-143.5
-85.7
42.2
-6.0
-121.9
-57.8
144.1
197.0
-52.9
0.7
-85.3
-31.4
17.8
-7.8
-41.5
-53.9
86.0
149.8
-63.8
1.2
-84.5
-43.2
-9.2
-1.6
-32.4
-41.3
85.7
146.2
-60.6
1.2
-58.2
-31.0
-8.2
-8.0
-14.9
-27.1
59.4
132.8
-73.4
0.5
-60.1
5.3
18.7
-2.6
-10.8
-65.4
60.7
129.6
-68.9
0.5
-67.8
-23.8
-8.8
-2.5
-12.5
-44.0
68.4
125.5
-57.1
3.7
-87.3
-46.0
-8.3
-3.4
-34.3
-41.3
91.0
151.2
-60.2
0.4
-85.3
-37.6
-9.6
-0.3
-27.7
-47.7
85.7
149.2
-63.5
0.1
-97.5
-65.4
-10.0
-0.2
-55.2
-32.2
97.6
159.0
-61.4
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
Net lending (+) or net borrowing (-), NIPAs (3)

Private
Domestic business
Nonfinancial corporate business (3)
Financial business
Government
Federal
State and local
-715.9
-307.8
-182.2
-106.0
-73.6
-2.6
-125.7
-408.1
-315.0
-93.1
-673.6
263.7
-108.8
-9.5
-52.6
-46.7
372.6
-937.3
-756.2
-181.1
-378.0
1243.7
755.4
466.3
14.5
274.6
488.3
-1621.7
-1446.3
-175.4
-479.9
1076.4
541.0
378.0
6.1
156.9
535.4
-1556.3
-1462.3
-94.0
-462.0
997.6
512.0
399.3
-6.2
118.9
485.6
-1459.6
-1350.7
-108.9
-489.1
1010.8
460.3
350.8
4.8
104.7
550.5
-1499.8
-1430.8
-69.0
-465.3
1089.6
538.6
429.3
1.5
107.9
551.0
-1554.9
-1459.2
-95.7
-494.0
972.5
447.5
342.4
1.5
103.5
525.0
-1466.5
-1352.8
-113.7
-496.7
1038.7
543.5
412.6
1.0
130.0
495.2
-1535.4
-1449.4
-86.0
-442.7
1018.0
540.9
424.2
-12.9
129.6
477.1
-1460.7
-1334.7
-125.9
-414.7
961.1
516.0
417.9
-14.3
112.5
445.1
-1375.8
-1265.9
-110.0
42
43
44
45
46
47
48
49
50
51
52
Statistical discrepancy (line 21 less line 1)
-12.0
-2.4
77.4
0.8
-23.4
-7.4
24.5
-52.0
-10.0
-38.7
7.2
52
53
54
55
56
57
58
59
Addenda:
Disaster losses
Private
Domestic business
Government
Federal
State and local
0.0
0.0
0.0
0.0
0.0
0.0
0.0
19.1
19.1
10.8
8.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
53
54
55
56
57
58
59
(1) This table is based on NIPA table 5.1 in the Survey of Current Business, Bureau of Economic Analysis (www.bea.gov). It is consistent with the Integrated Macroeconomic Accounts of the
United States jointly compiled by the Federal Reserve Board and the Bureau of Economic Analysis.
(2) Consists of net capital transfers shown on table F.9 and the acquisition of nonproduced nonfinancial assets (net) shown on table F.6.
(3) Differs from net lending or net borrowing (capital account) in the Integrated Macroeconomic Accounts of the United States by the statistical discrepancy (line 52).
16
Z.1, March 8, 2012
F.9 Net Capital Transfers (1)

2007
1
2
3
4
5
6
7
Capital transfers paid, by sector

By private business
Financial corporations
Disaster-related insurance benefits
Other
Nonfinancial corporations
Noncorporate business
2008
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
114.5
209.6
290.1
209.9
161.2
167.0
169.3
133.0
167.5
157.5
186.9
0.0
0.0
0.0
0.0
0.0
0.0
7.6
7.6
7.6
0.0
0.0
0.0
40.4
0.0
0.0
0.0
40.4
0.0
25.8
0.0
0.0
0.0
25.8
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.5
0.0
0.0
0.0
0.5
0.0
25.3
0.0
0.0
0.0
25.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
By government
Federal
Investment grants to state and local govts.
Financial stabilization payments
Other capital transfers paid to business
Other capital transfers paid to persons
Capital transfers paid to the rest of the world (net)
State and local
82.8
82.8
53.7
0.0
0.0
0.0
28.7
0.4
0.0
0.0
161.8
161.8
57.1
2.8
67.7
0.1
33.3
0.8
0.0
0.0
224.7
224.7
62.8
0.0
121.9
8.1
31.3
0.6
0.0
0.0
164.6
164.6
73.6
0.0
41.5
12.3
36.4
0.7
0.0
0.0
151.4
151.4
71.4
0.0
32.4
7.3
39.1
1.3
0.0
0.0
146.4
146.4
82.9
0.0
14.9
11.6
35.8
1.2
0.0
0.0
134.4
134.4
79.0
0.0
10.8
5.8
38.3
0.5
0.0
0.0
126.7
126.7
67.5
0.0
12.5
7.7
38.5
0.5
0.0
0.0
157.0
157.0
70.9
0.0
34.3
8.6
39.6
3.7
0.0
0.0
151.3
151.3
74.5
0.0
27.7
7.1
41.6
0.4
0.0
0.0
170.5
170.5
72.6
0.0
55.2
5.8
36.5
0.4
0.0
0.0
8
9
10
11
12
13
14
15
16
17
18
19
20
By persons
Estate and gift taxes, federal
Estate and gift taxes, state and local
31.7
26.5
5.3
34.0
28.3
5.8
25.1
20.6
4.5
19.5
15.0
4.5
9.8
5.1
4.7
20.0
15.5
4.6
9.6
5.0
4.6
6.3
1.5
4.8
10.4
5.7
4.8
6.2
1.5
4.7
16.4
11.8
4.6
18
19
20
21
22
23
By the rest of the world

Other
0.0
0.0
0.0
6.2
6.2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
21
22
23
24
Capital transfers received, by sector
114.5
209.6
290.1
209.9
161.2
167.0
169.3
133.0
167.5
157.5
186.9
24
25
26
27
28
29
30
31
32
33
34
By private business
Other
Nonfinancial corporations
Other
Other
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
75.0
68.1
0.4
67.7
3.7
3.6
0.1
3.3
3.3
0.0
130.0
121.9
0.0
121.9
2.1
0.0
2.1
6.0
0.0
6.0
53.8
41.5
0.0
41.5
4.6
0.0
4.6
7.8
0.0
7.8
39.7
32.4
0.0
32.4
5.7
0.0
5.7
1.6
0.0
1.6
26.5
14.9
0.0
14.9
3.6
0.0
3.6
8.0
0.0
8.0
16.6
10.8
0.0
10.8
3.2
0.0
3.2
2.6
0.0
2.6
20.2
12.5
0.0
12.5
5.2
0.0
5.2
2.5
0.0
2.5
42.8
34.3
0.0
34.3
5.1
0.0
5.1
3.4
0.0
3.4
34.8
27.7
0.0
27.7
6.8
0.0
6.8
0.3
0.0
0.3
61.0
55.2
0.0
55.2
5.6
0.0
5.6
0.2
0.0
0.2
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
By government
Federal
Estate and gift taxes paid by persons
State and local
Estate and gift taxes paid by persons
Investment grants paid by federal government
Other
85.4
26.5
26.5
58.9
0.0
5.3
53.7
0.0
91.1
28.3
28.3
62.8
0.0
5.8
57.1
0.0
87.9
20.6
20.6
67.3
0.0
4.5
62.8
0.0
93.3
15.0
15.0
78.3
0.0
4.5
73.6
0.2
81.2
5.1
5.1
76.1
0.0
4.7
71.4
0.0
103.5
15.5
15.5
88.0
0.0
4.6
82.9
0.5
88.7
5.0
5.0
83.7
0.0
4.6
79.0
0.1
73.8
1.5
1.5
72.3
0.0
4.8
67.5
0.0
81.3
5.7
5.7
75.7
0.0
4.8
70.9
0.0
80.7
1.5
1.5
79.2
0.0
4.7
74.5
0.0
89.0
11.8
11.8
77.2
0.0
4.6
72.6
0.0
35
36
37
38
39
40
41
42
43
44
45
By persons
Other
28.7
0.0
28.7
42.6
9.3
33.3
71.7
0.0
71.7
62.0
0.0
62.0
39.1
0.0
39.1
35.8
0.0
35.8
63.5
0.0
63.5
38.5
0.0
38.5
39.6
0.0
39.6
41.6
0.0
41.6
36.5
0.0
36.5
43
44
45
46
47
48
By the rest of the world

Capital transfers paid by U.S. government
Other
0.4
0.4
0.0
0.8
0.8
0.0
0.6
0.6
0.0
0.7
0.7
0.0
1.3
1.3
0.0
1.2
1.2
0.0
0.5
0.5
0.0
0.5
0.5
0.0
3.7
3.7
0.0
0.4
0.4
0.0
0.4
0.4
0.0
46
47
48
-0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-0.0
0.0
-67.5
-60.5
7.6
-29.7
-29.3
-0.4
-3.2
-6.9
-28.3
-3.7
-3.3
-89.6
-121.9
0.0
-18.2
-18.2
0.0
-11.3
-87.1
-5.3
38.3
-6.0
-28.0
-41.5
0.0
2.4
2.4
0.0
-1.5
-40.2
-2.2
21.3
-7.8
-39.7
-32.4
0.0
2.9
2.9
0.0
0.0
-31.9
-3.4
-5.7
-1.6
-26.0
-14.9
0.0
4.3
4.3
0.0
-6.0
-13.2
0.0
-3.2
-8.0
8.7
-10.8
0.0
-0.4
-0.4
0.0
0.0
-10.4
0.0
22.1
-2.6
-20.2
-12.5
0.0
13.5
13.5
0.0
0.0
-12.4
-13.6
-5.2
-2.5
-42.8
-34.3
0.0
-0.3
-0.3
0.0
0.0
-34.0
0.0
-5.1
-3.4
-34.8
-27.7
0.0
-1.4
-1.4
0.0
0.0
-26.3
0.0
-6.8
-0.3
-61.0
-55.2
0.0
-0.0
-0.0
0.0
0.0
-55.1
0.0
-5.6
-0.2
49
50
51
52
53
54
55
56
57
58
59
-2.6
56.3
-58.9
70.6
133.5
-62.8
136.8
204.1
-67.3
71.2
149.6
-78.3
70.2
146.3
-76.1
43.0
131.0
-88.0
45.7
129.4
-83.7
52.9
125.2
-72.3
75.7
151.4
-75.7
70.7
149.9
-79.2
81.6
158.8
-77.2
60
61
62
3.0
-8.6
-46.6
-42.6
-29.3
-15.8
-53.8
-32.2
-29.2
-35.5
-20.2
63
-0.4
5.4
-0.6
-0.7
-1.3
-1.2
-0.5
-0.5
-3.7
-0.4
-0.4
64
Addenda: Net capital transfers paid by sector

49
50
51
52
53
54
55
56
57
58
59
By private business (lines 2-25)

Financial corporations (lines 3-26)
Property-casualty insurance companies (line 4)
Financial stabilization payments (2)
Other (lines 5-27)
Bank holding companies (GMAC) (2)
Government-sponsored enterprises (2)
Funding corporations (AIG) (2)
Nonfinancial corporations (lines 6-29)
Noncorporate business (lines 7-32)
60
61
62
By government (lines 8-35)

Federal (lines 9-36)
State and local (lines 16-38)
63
By persons (lines 18-43)
64
By the rest of the world (lines 21-46)
(1) This table is based on NIPA table 5.10 in the Survey of Current Business, Bureau of Economic Analysis (www.bea.gov).
(2) Sum of lines 53, 55, 56, and 57 equals the negative of line 12. Series treated as capital losses rather than as capital transfers in the Flow of Funds Accounts.
17
Z.1, March 8, 2012
F.10 Derivation of Measures of Personal Saving (1)

2007
2008
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
Net acquisition of financial assets
1496.1
757.0
119.4
363.3
466.3
149.8
941.3
618.3
206.3
516.8
523.9
2
3
4
5
Foreign deposits
Time and savings deposits
15.4
-5.0
492.1
234.4
-23.7
240.5
193.0
236.2
-6.4
58.7
102.4
-270.4
4.3
-166.2
215.9
-186.4
-1.6
124.7
289.9
-22.5
2.0
-107.4
236.8
-132.8
5.8
-107.9
116.9
-217.3
10.9
51.9
-10.1
86.5
-3.8
26.1
817.6
59.3
-2.0
342.8
157.4
-24.6
-11.4
77.9
194.8
-211.1
2
3
4
5
-128.2
-10.2
-6.0
-41.0
313.9
43.6
208.3
-845.9
209.1
-134.5
-101.3
-2.4
151.7
97.6
40.9
-213.9
-108.4
1.4
256.9
28.7
-2.8
419.6
-566.2
130.0
-140.2
88.0
299.8
322.6
28.8
-3.3
361.5
91.1
61.2
-341.5
-72.1
196.9
-212.2
-5.3
-2.7
-153.9
-22.9
-78.5
-105.2
-142.5
298.8
-94.2
35.4
-2.6
-30.3
13.8
-32.5
-505.5
-1.9
429.4
849.4
1.7
-3.5
356.0
287.8
146.6
187.1
-342.3
216.1
285.2
17.7
-4.6
-892.4
432.0
-5.3
-105.2
76.4
766.7
-853.6
-11.9
-3.9
-451.7
-154.8
-123.8
-18.4
-276.7
187.5
-789.1
-18.5
-2.8
154.3
-329.0
-73.1
-294.1
-29.3
-196.6
508.6
-8.4
0.3
574.2
-39.7
-111.7
-3.0
-340.6
437.6
6
7
8
9
10
11
12
13
14
6
7
8
9
10
11
12
13
14
Securities
Open market paper
U.S. savings bonds
Treasury bills and other Treasury securities
Corporate equities (2)
Mutual fund shares
15
16

18.0
201.1
61.7
125.7
23.7
135.4
9.0
208.9
52.6
139.8
41.5
219.9
-2.8
258.2
30.9
140.1
54.0
-114.3
101.1
439.2
24.5
94.1
15
16
17
Miscellaneous and other assets
668.3
57.9
-180.8
-44.8
95.6
-15.9
39.0
22.9
221.1
291.9
-153.6
17
18
19
20
21
22
23
Gross investment in nonfinancial assets

Residential fixed investment
Nonresidential fixed investment
Consumer durables
Nonproduced nonfinancial assets
Inventories
2063.9
622.2
345.3
1106.8
-11.3
0.9
1826.4
466.8
330.4
1041.3
-11.2
-0.9
1576.1
350.3
281.0
965.3
-11.2
-9.3
1622.8
335.5
280.2
1016.2
-11.3
2.2
1715.0
334.8
307.3
1088.1
-12.0
-3.2
1617.2
325.1
284.5
1018.1
-11.4
0.9
1655.5
328.8
288.0
1052.9
-11.6
-2.7
1685.0
328.3
291.5
1080.8
-11.8
-3.7
1688.9
333.1
301.6
1070.8
-12.1
-4.5
1717.9
334.4
315.4
1084.3
-12.2
-4.0
1768.2
343.5
320.6
1116.6
-12.0
-0.5
18
19
20
21
22
23
24
25
26
27
Consumption of fixed capital

Consumer durables
1346.1
269.8
202.2
874.0
1412.4
272.2
233.7
906.5
1420.5
266.0
237.3
917.2
1420.3
266.7
238.3
915.3
1423.7
276.6
243.3
903.9
1421.3
267.0
238.2
916.1
1427.7
269.5
240.3
917.9
1401.5
271.8
241.6
888.1
1415.4
275.3
242.8
897.3
1432.8
278.3
243.8
910.8
1445.3
280.9
245.1
919.3
24
25
26
27
28
Net investment in nonfinancial assets (3)
717.8
414.0
155.6
202.5
291.2
195.9
227.8
283.5
273.5
285.0
322.9
28
352.4
143.0
232.8
-11.3
0.9
194.7
96.7
134.8
-11.2
-0.9
84.3
43.6
48.1
-11.2
-9.3
68.8
41.9
100.9
-11.3
2.2
58.2
64.0
184.3
-12.0
-3.2
58.1
46.3
102.0
-11.4
0.9
59.3
47.8
135.0
-11.6
-2.7
56.4
50.0
192.7
-11.8
-3.7
57.8
58.8
173.5
-12.1
-4.5
56.1
71.6
173.6
-12.2
-4.0
62.6
75.5
197.3
-12.0
-0.5
29
30
31
32
33
1504.9
328.3
-287.3
-379.6
-62.5
-386.4
111.1
-68.0
-30.1
-274.1
122.1
34
711.1
286.4
139.3
3.6
33.4
330.9
-101.1
230.8
38.8
5.9
-160.7
314.6
-186.8
22.0
-115.3
0.7
38.1
-46.1
-336.5
-105.2
-44.2
3.4
75.2
27.6
-235.3
-28.8
86.3
2.4
-39.7
152.6
-289.0
-111.4
-53.5
4.6
66.7
-3.8
-202.3
-80.8
56.5
3.8
178.0
155.8
-301.0
-29.4
52.6
1.2
150.2
58.4
-268.0
-28.2
87.5
2.8
-11.5
187.4
-204.4
-26.8
34.6
3.7
-243.7
162.6
-167.7
-30.6
170.4
1.6
-53.6
202.1
35
36
37
38
39
40
3.0
-11.9
-52.6
-50.3
-30.8
-23.8
-56.4
-34.7
-32.6
-35.7
-20.4
41
29
30
31
32
33
34
35
36
37
38
39
40

Consumer durables
Inventories
Net increase in liabilities
Home mortgages
Other mortgages
Consumer credit
Policy loans
Security credit
Other liabilities
41
Net capital transfers paid (4)
42
Personal saving, FOF concept (FOF)
712.0
830.8
509.7
895.0
789.2
708.4
1001.6
935.1
477.3
1040.2
704.3
42
43
44
- Net investment in consumer durables

- Government insurance and pension fund reserves (5)
232.8
0.1
134.8
-0.6
48.1
0.5
100.9
-1.7
184.3
-0.4
102.0
-2.1
135.0
-0.4
192.7
-2.1
173.5
-0.1
173.6
0.5
197.3
-0.0
43
44
45
= Personal saving, NIPA concept (FOF) (6)
479.1
696.7
461.1
795.9
605.4
608.5
867.0
744.5
303.9
866.1
507.0
45
46
Personal saving, NIPA concept (NIPA)
248.7
592.3
552.6
592.8
547.6
625.6
588.1
578.9
556.5
533.1
522.0
46
47
Difference
230.4
104.4
-91.5
203.1
57.8
-17.2
278.9
165.6
-252.6
333.0
-15.0
47
48
Memo:
Disposable personal income
10423.6
11024.5
10788.8
11179.7
11602.3
11240.4
11336.7
11481.0
11559.2
11647.7
11721.3
48
49
50
51
52
Personal saving as a percentage of disposable personal income:

FOF concept (FOF data) (line 42)
NIPA concept (FOF data) (line 45)
NIPA concept (NIPA data) (line 46)
Difference (line 47)
7.5
6.3
5.4
0.9
4.7
4.3
5.1
-0.8
8.0
7.1
5.3
1.8
6.8
5.2
4.7
0.5
6.3
5.4
5.6
-0.2
8.8
7.6
5.2
2.5
8.1
6.5
5.0
1.4
4.1
2.6
4.8
-2.2
8.9
7.4
4.6
2.9
6.0
4.3
4.5
-0.1
49
50
51
52
6.8
4.6
2.4
2.2
(1) Consolidated statement for households and nonprofit organizations and nonfinancial noncorporate business.
(2) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 14) and life insurance and pension reserves (lines 15 and 16)).
(3) Line 18 less line 24.
(4) Table F.9, line 59 plus line 63.
(5) Railroad Retirement Board, the National Railroad Retirement Investment Trust, and federal government life insurance reserves.
(6) Line 45 and 46 are conceptually equivalent but measure saving using different data. Line 45 is net acquisition of financial assets net of government insurance and pension fund reserves (line 1 less line 44) plus
net investment in nonfinancial assets net of consumer durables (line 28 less line 43) less net increase in liabilities (line 34) plus net capital transfers paid (line 41). Line 46 is disposable personal income (line 48) less
personal outlays (table F.100, line 4).
18
Z.1, March 8, 2012
F.100 Households and Nonprofit Organizations (1)

2007
1
2
3
4
5
Personal income
- Personal current taxes
= Disposable personal income
- Personal outlays
= Personal saving, NIPA (2)
6
7
8
9
2008
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
11912.3
1488.7
10423.6
10174.9
248.7
12460.2
1435.7
11024.5
10432.2
592.3
11930.2
1141.4
10788.8
10236.3
552.6
12373.5
1193.9
11179.7
10586.9
592.8
13004.5
1402.2
11602.3
11054.6
547.6
12453.2
1212.8
11240.4
10614.8
625.6
12577.6
1240.9
11336.7
10748.6
588.1
12846.9
1365.9
11481.0
10902.1
578.9
12955.3
1396.2
11559.2
11002.6
556.5
13056.8
1409.1
11647.7
11114.6
533.1
13158.8
1437.6
11721.3
11199.3
522.0
1
2
3
4
5
+ Government insurance and pension reserves (3)

+ Net investment in consumer durables
+ Consumption of fixed capital
- Net capital transfers paid (4)
0.1
232.8
1161.8
3.0
-0.6
134.8
1201.2
-8.6
0.5
48.1
1209.7
-46.6
-1.7
100.9
1210.6
-42.6
-0.4
184.3
1207.3
-29.3
-2.1
102.0
1211.5
-15.8
-0.4
135.0
1216.3
-53.8
-2.1
192.7
1188.5
-32.2
-0.1
173.5
1200.0
-29.2
0.5
173.6
1215.2
-35.5
-0.0
197.3
1225.6
-20.2
6
7
8
9
10
= Gross saving less net capital transfers paid
1640.4
1936.2
1857.4
1945.0
1968.1
1952.8
1992.8
1990.2
1959.1
1957.9
1965.0
10
11
Gross investment
1870.8
2040.6
1766.0
2148.1
2025.8
1935.6
2271.7
2155.8
1706.5
2290.9
1950.0
11
1757.4
541.7
1106.8
120.2
-11.3
1559.3
397.2
1041.3
132.0
-11.2
1373.7
296.0
965.3
123.6
-11.2
1411.3
287.7
1016.2
118.8
-11.3
1482.9
286.5
1088.1
120.3
-12.0
1404.5
278.3
1018.1
119.4
-11.4
1442.2
281.6
1052.9
119.3
-11.6
1467.3
281.0
1080.8
117.3
-11.8
1464.0
285.1
1070.8
120.2
-12.1
1480.3
286.2
1084.3
122.0
-12.2
1519.9
293.8
1116.6
121.5
-12.0
12
13
14
15
16
17
12
13
14
15
16
Capital expenditures
Residential
Consumer durable goods
Nonprofit nonresidential
17
Net lending (+) or net borrowing (-)
113.4
481.3
392.3
736.8
542.9
531.2
829.5
688.5
242.5
810.6
430.1
18
1029.5
359.7
210.6
556.7
403.0
307.3
938.3
605.5
162.4
416.2
427.7
18
19
20
21
22
Foreign deposits
15.4
-71.8
477.2
232.2
-23.7
236.8
194.3
235.1
-6.4
38.2
107.2
-268.7
4.3
-145.0
230.3
-183.4
-1.6
119.5
287.4
-23.0
2.0
-87.9
250.0
-130.0
5.8
-104.6
119.0
-216.9
10.9
51.0
-9.8
86.6
-3.8
22.7
816.2
59.0
-2.0
335.5
153.4
-25.4
-11.4
68.9
189.6
-212.2
19
20
21
22
23
Credit market instruments
502.2
-6.0
-140.4
188.0
-381.6
-530.1
962.2
-569.8
-781.2
-572.4
397.0
23
-10.2
-50.0
-6.0
-44.0
313.9
44.1
208.3
8.5
-12.4
-101.3
156.8
-2.4
159.2
97.6
41.3
-213.9
12.2
1.4
28.7
422.5
-2.8
425.2
-566.2
129.8
-140.2
-5.3
-9.7
28.8
360.1
-3.3
363.4
91.1
61.4
-341.5
-0.6
-11.3
-5.3
-157.0
-2.7
-154.3
-22.9
-78.5
-105.2
-1.5
-11.3
35.4
-31.1
-2.6
-28.5
13.8
-32.3
-505.5
2.0
-12.3
1.7
352.8
-3.5
356.3
287.8
146.6
187.1
-0.8
-13.0
17.7
-896.9
-4.6
-892.4
432.0
-5.3
-105.2
-1.6
-10.4
-11.9
-455.8
-3.9
-451.9
-154.8
-123.8
-18.4
-3.3
-13.3
-18.5
150.9
-2.8
153.7
-329.0
-73.2
-294.1
-1.0
-7.6
-8.4
573.8
0.3
573.5
-39.7
-111.8
-3.0
-0.1
-13.9
24
25
26
27
28
29
30
31
32
-845.9
209.1
210.8
18.0
201.1
15.3
66.1
-108.4
1.4
-123.8
61.7
125.7
-288.5
55.1
88.0
299.8
-74.1
23.7
135.4
-13.2
21.1
-72.1
196.9
25.7
9.0
208.9
49.7
44.4
-142.5
298.8
58.1
52.6
139.8
-38.2
33.7
-1.9
429.4
43.2
41.5
219.9
16.5
54.7
-342.3
216.1
-10.1
-2.8
258.2
-21.3
75.0
76.4
766.7
36.2
30.9
140.1
-20.7
7.1
-276.7
187.5
217.7
54.0
-114.3
-26.1
7.5
-29.3
-196.6
188.7
101.1
439.2
-49.1
73.0
-340.6
437.6
-210.3
24.5
94.1
-57.0
47.4
33
34
35
36
37
38
39
916.1
-121.6
-181.7
-180.1
-140.0
-223.9
108.8
-83.0
-80.0
-394.4
-2.4
40
867.0
13.7
-230.9
-279.3
-113.9
-300.4
-99.6
-254.9
-84.4
-159.3
43.1
41
677.2
139.3
20.6
13.4
3.2
13.3
-54.2
38.8
8.0
18.0
6.2
-3.0
-145.3
-115.3
6.0
30.1
0.5
-6.9
-299.2
-44.2
-2.3
76.5
2.4
-12.6
-213.2
86.3
-7.8
26.3
1.9
-7.3
-258.8
-53.5
-10.9
32.5
4.5
-14.2
-183.9
56.5
5.9
32.2
1.3
-11.6
-274.0
52.6
-1.4
-25.8
0.9
-7.2
-243.5
87.5
-4.7
81.3
2.1
-7.0
-184.8
34.6
-18.5
12.9
3.7
-7.2
-150.3
170.4
-6.7
36.8
0.7
-7.8
42
43
44
45
46
47
33.4
14.6
-160.7
22.2
38.1
16.0
75.2
21.4
-39.7
14.0
66.7
21.6
178.0
21.6
150.2
20.0
-11.5
14.0
-243.7
13.6
-53.6
8.5
48
49
1.0
3.2
-4.9
2.7
-0.4
-11.8
8.7
1.7
1.9
-5.0
-0.4
50
-230.4
-104.4
91.5
-203.1
-57.8
17.2
-278.9
-165.6
252.6
-333.0
15.0
51
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

Treasury securities
Savings bonds
Other
Other loans and advances (5)
Mortgages
Mutual fund shares
Security credit
Equity in noncorporate business
Miscellaneous assets
Home mortgages (7)
Consumer credit
Bank loans n.e.c. (8)
Commercial mortgages
Security credit
Trade payables
Deferred and unpaid
life insurance premiums
Discrepancy
(1) Sector includes domestic hedge funds, private equity funds, and personal trusts. 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.
(4) Table F.9, line 63.
(5) Syndicated loans to nonfinancial corporate business by nonprofits and domestic hedge funds.
(6) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 34) and life insurance and pension reserves (lines 36 and 37).
(7) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table F.218, line 24.
(8) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table F.109, line 17.
19
Z.1, March 8, 2012
F.101 Nonfinancial Business (1)

2007
2008
2009
2010
2011
2010
Q3
2011
Q4
Q1
Q2
Q3
Q4
Income before taxes
2208.0
2030.6
1748.8
2099.4
2247.5
2139.5
2052.1
2202.5
2249.0
2266.6
2271.7
Gross saving less net capital transfers paid
1251.0
1318.9
1365.0
1585.8
1705.5
1623.9
1592.2
1636.3
1717.8
1722.7
1745.3
Gross investment
1125.1
384.0
1541.0
1493.4
1664.6
1526.0
1404.2
1533.8
1635.3
1713.1
1776.1
1453.4
1379.6
963.2
1198.8
1309.6
1255.2
1224.6
1260.3
1289.6
1286.0
1402.3
1426.0
96.2
1329.8
1404.4
75.1
1329.3
1120.0
58.8
1061.2
1135.3
45.7
1089.6
1266.0
52.0
1214.0
1153.5
41.3
1112.3
1189.2
48.1
1141.2
1201.9
48.0
1153.9
1239.3
46.8
1192.5
1288.0
41.5
1246.5
1334.9
71.8
1263.2
5
6
7
29.1
-1.7
-41.1
16.3
-160.8
3.9
66.9
-3.4
47.0
-3.5
106.7
-5.0
38.7
-3.4
62.0
-3.6
53.6
-3.2
0.8
-2.8
71.7
-4.4
8
9
5
6
7
Fixed investment
Residential
Nonresidential
8
9
Change in inventories
10
-328.3
-995.6
577.9
294.6
355.0
270.8
179.7
273.5
345.7
427.1
373.8
10
11
1554.3
-506.7
208.0
689.2
969.0
884.8
736.5
1023.0
981.3
802.2
1069.5
11
12
13
14
15
16
Foreign deposits
Security RPs
0.9
58.4
-40.7
130.2
-7.5
-25.5
-104.9
-60.7
159.3
-0.9
6.8
147.8
102.1
-58.1
0.7
40.5
257.8
-31.6
-131.6
4.4
22.1
232.1
130.3
-50.1
-0.6
41.8
234.0
118.6
-13.1
-10.7
48.6
373.0
-0.6
-17.5
22.5
28.1
229.1
201.6
-80.6
2.5
20.8
230.5
97.1
-65.4
-2.9
20.7
233.5
108.9
-87.9
-2.8
18.7
235.3
113.5
33.5
0.8
12
13
14
15
16
17
-69.1
-43.0
2.9
10.2
3.7
48.5
-62.0
10.8
8.9
0.9
-5.7
17
-53.2
-4.1
-2.4
0.6
-11.0
1.0
-12.2
-15.4
-2.6
-3.4
-10.7
1.2
-1.3
6.8
4.2
1.1
-5.3
-2.6
15.5
-1.5
0.9
-6.5
-5.6
7.5
3.3
7.8
-0.2
-1.6
-3.8
-1.8
41.8
3.0
2.4
4.6
-5.5
2.3
-10.2
-40.3
-11.2
-2.0
-4.3
6.1
39.4
-2.5
-7.1
-2.2
-4.1
-12.6
-28.5
30.0
10.0
-1.1
-4.0
2.4
2.4
-0.1
-7.5
-1.2
-3.7
11.0
0.0
3.9
3.8
-1.9
-3.5
-8.0
18
19
20
21
22
23
0.2
217.8
1264.1
-6.1
-174.9
-250.0
40.4
-56.9
22.3
16.8
110.4
412.3
16.8
182.8
431.9
16.8
174.0
274.7
16.8
127.0
228.7
16.8
174.6
440.1
16.8
187.9
487.6
16.8
178.2
333.9
16.8
190.4
466.2
24
25
26
1882.7
488.9
-369.9
394.6
614.0
614.0
556.8
749.5
635.6
375.1
695.7
27
1288.5
664.1
-272.4
79.0
472.9
201.5
272.3
453.1
495.3
411.9
531.3
28
18
19
20
21
22
23
24
25
26
27
28
Commercial paper
Treasury securities
Mortgages
Consumer credit
Mutual fund shares
Trade receivables
29
30
31
Commercial paper
Corporate bonds
11.3
69.0
311.2
7.7
68.2
204.6
-73.1
37.8
377.2
24.5
34.7
420.6
33.3
15.1
376.0
43.8
26.3
510.6
-58.7
41.9
507.7
25.9
27.4
393.5
49.6
1.7
451.9
29.7
9.0
306.7
27.9
22.3
351.9
29
30
31
32
33
34
Bank loans n.e.c.

Mortgages
226.8
307.2
363.0
174.6
67.9
141.2
-326.1
-155.5
-132.8
-109.5
-88.6
-202.7
124.4
34.1
-109.9
-116.8
-55.4
-207.0
29.8
-75.3
-173.3
136.8
-9.6
-120.8
130.7
13.4
-152.0
124.7
57.6
-116.0
105.2
75.0
-50.9
32
33
34
-786.8
111.1
-45.8
1302.8
-336.0
-219.4
9.8
670.3
-64.6
-77.6
-9.5
63.8
-278.0
141.0
-1.8
405.0
-489.9
230.4
10.0
426.5
-336.5
204.2
-4.1
524.0
-360.9
111.6
8.7
550.1
-325.6
228.0
29.5
376.6
-512.5
238.0
-25.7
466.7
-606.6
236.1
10.8
379.4
-514.8
219.7
25.5
483.6
35
36
37
38
12.8
-300.0
-9.6
49.3
-36.1
25.0
-25.0
-12.1
-26.1
-56.5
-49.6
39
126.0
934.9
-176.1
92.4
40.9
97.9
188.0
102.5
82.4
9.6
-30.8
40
35
36
37
38
Corporate equities
Trade payables
Taxes payable
Miscellaneous liabilities
39
Proprietors net investment
40
Discrepancy
(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
20
Z.1, March 8, 2012
F.102 Nonfinancial Corporate Business

2007
1
2
3
4
5
6
7
8
9
10
Profits before tax (book)

- Taxes on corporate income
- Net dividends
+ Capital consumption allowance (1)
= U.S. internal funds, book
+ Foreign earnings retained abroad
+ Inventory valuation adjustment (IVA)
= Total internal funds + IVA
Gross investment
2008
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
1042.0
293.8
484.6
681.8
945.4
168.5
-47.2
-0.0
1066.8
831.2
227.4
474.1
831.6
961.2
183.9
-44.5
-3.7
1104.4
693.5
175.0
349.0
808.7
978.2
207.7
0.6
38.3
1148.1
942.8
229.3
398.8
902.5
1217.2
211.4
-39.1
21.3
1368.3
1000.2
245.0
445.3
1016.2
1326.0
215.0
-59.3
-5.7
1487.5
961.5
239.4
406.0
903.4
1219.5
215.5
-32.0
-3.2
1406.1
848.9
212.4
432.3
1077.7
1281.9
208.7
-90.3
22.1
1378.2
974.8
238.5
422.0
1005.0
1319.3
212.3
-116.0
-5.2
1420.8
1006.3
252.2
459.2
1012.6
1307.5
246.6
-60.4
-5.1
1498.9
1013.4
250.1
434.0
1017.5
1346.8
196.7
-45.5
-6.8
1504.8
1006.2
239.3
466.0
1029.6
1330.5
204.5
-15.3
-5.6
1525.4
1
2
3
4
5
6
7
8
9
940.8
169.5
1324.2
1275.9
1446.5
1308.2
1190.2
1318.3
1416.5
1495.2
1556.2
10
11
12
13
14
Fixed investment (3)
Inventory change + IVA
1146.9
1120.4
28.2
-1.7
1112.4
1136.4
-40.2
16.3
760.8
908.3
-151.5
3.9
987.4
926.1
64.7
-3.4
1077.4
1030.7
50.2
-3.5
1042.5
941.7
105.8
-5.0
1011.3
973.2
41.4
-3.4
1042.6
980.5
65.7
-3.6
1064.7
1009.8
58.1
-3.2
1048.4
1046.4
4.8
-2.8
1154.1
1086.2
72.2
-4.4
11
12
13
14
15
-206.1
-943.0
563.4
288.5
369.1
265.7
179.0
275.7
351.8
446.8
402.2
15
16
1074.9
-604.0
308.7
833.3
941.7
1017.3
758.5
1022.2
963.5
758.0
1022.9
16
17
18
19
20
21
Foreign deposits
Security RPs
0.9
-8.5
-55.7
128.1
-7.5
-25.5
-108.7
-59.4
158.2
-0.9
6.8
127.4
106.9
-56.5
0.7
40.5
279.0
-17.2
-128.6
4.4
22.1
226.9
127.7
-50.6
-0.6
41.8
253.5
131.9
-10.3
-10.7
48.6
376.3
1.6
-17.0
22.5
28.1
228.1
201.9
-80.5
2.5
20.8
227.1
95.7
-65.7
-2.9
20.7
226.2
104.9
-88.8
-2.8
18.7
226.3
108.3
32.4
0.8
17
18
19
20
21
22
-79.1
-32.2
9.6
13.9
3.1
51.9
-61.5
10.9
8.5
-0.2
-7.0
22
-53.2
-7.1
-2.4
1.1
-18.4
1.0
-12.2
-7.9
-2.6
-3.0
-7.7
1.2
-1.3
12.5
4.2
0.9
-4.1
-2.6
15.5
0.4
0.9
-6.3
-4.1
7.5
3.3
7.5
-0.2
-1.6
-4.1
-1.8
41.8
4.7
2.4
4.8
-4.1
2.3
-10.2
-40.0
-11.2
-2.0
-4.1
6.1
39.4
-2.4
-7.1
-2.2
-4.1
-12.6
-28.5
29.9
10.0
-1.1
-4.1
2.4
2.4
-0.7
-7.5
-1.2
-4.1
11.0
0.0
3.3
3.8
-2.0
-4.1
-8.0
23
24
25
26
27
28
23
24
25
26
27
28
Commercial paper
Treasury securities
Mortgages
Consumer credit
29
30
Mutual fund shares

Trade receivables
0.2
163.1
-6.1
-172.0
40.4
-30.6
16.8
130.6
16.8
179.2
16.8
192.6
16.8
130.1
16.8
175.1
16.8
186.0
16.8
172.6
16.8
183.2
29
30
31
32
33
34
35
36
U.S. direct investment abroad (4)
Insurance receivables
Equity in GSEs
Investment in finance co. subs.
Other
933.4
307.0
8.3
0.1
-54.8
672.7
-357.5
262.6
10.9
-0.1
-1.1
-629.9
104.0
279.8
-0.9
0.0
-9.3
-165.7
493.9
322.1
3.0
0.1
20.3
148.4
417.1
365.2
5.3
-0.0
21.5
25.1
349.7
267.5
7.4
0.3
-1.4
75.9
241.2
365.0
-5.6
0.3
-10.9
-107.5
439.2
348.0
0.6
0.3
69.0
21.4
477.1
504.8
22.9
-0.3
17.9
-68.2
308.5
280.4
13.9
-0.3
-1.3
15.7
443.5
327.8
-16.2
0.1
0.5
131.3
31
32
33
34
35
36
1281.0
339.0
-254.7
544.8
572.6
751.5
579.5
746.5
611.8
311.2
620.8
37
37.0
4.8
-196.9
6.9
-45.0
26.0
-70.4
138.9
-12.1
-253.3
-53.4
38
-786.8
-336.0
-64.6
-278.0
-489.9
-336.5
-360.9
-325.6
-512.5
-606.6
-514.8
39
823.8
340.8
-132.3
284.8
444.9
362.5
290.4
464.5
500.4
353.3
461.3
40
11.3
69.0
311.2
86.0
290.4
55.9
7.7
68.2
204.6
55.0
51.0
-45.7
-73.1
37.8
377.2
-209.8
-144.4
-120.2
24.5
34.7
420.6
-25.6
-96.5
-72.8
33.3
15.1
376.0
51.0
35.9
-66.3
43.8
26.3
510.6
-47.5
-90.9
-79.7
-58.7
41.9
507.7
-27.5
-87.4
-85.7
25.9
27.4
393.5
97.2
-7.8
-71.6
49.6
1.7
451.9
73.3
30.1
-106.2
29.7
9.0
306.7
27.7
57.0
-76.7
27.9
22.3
351.9
5.8
64.2
-10.7
41
42
43
44
45
46
85.1
-49.6
1208.6
211.6
4.4
992.6
-225.2
3.1
556.2
189.5
0.7
366.0
-85.3
-3.3
30.7
112.0
2.5
-83.8
161.1
3.4
373.5
186.2
-1.3
188.6
224.5
9.1
383.9
198.4
0.2
185.3
232.4
0.6
492.5
250.4
-0.8
242.9
123.2
9.5
517.3
203.3
-0.9
314.8
236.2
29.6
341.7
100.2
-0.6
242.2
224.0
-26.2
426.1
176.8
-0.1
249.4
221.3
9.4
333.8
270.3
0.5
63.0
216.5
23.6
434.1
246.5
1.0
186.6
47
48
49
50
51
52
37
38

Net funds raised in markets
39
Net new equity issues
40
41
42
43
44
45
46
47
48
49
50
51
52
Commercial paper
Municipal securities (5)
Corporate bonds (4)
Bank loans n.e.c.
Mortgages
Trade payables
Taxes payable
Foreign direct investment in U.S.
Pension fund contributions payable
Other
53
Discrepancy
126.0
934.9
-176.1
92.4
40.9
97.9
188.0
102.5
82.4
9.6
-30.8
53
54
Memo:
Financing gap (7)
248.7
195.7
-218.0
-190.7
-189.3
-145.0
-180.3
-160.7
-182.4
-252.9
-161.2
54
(1) Consumption of fixed capital plus capital consumption adjustment.

(3) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 10 and 15 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) Loans from rest of the world, U.S. government, and nonbank financial institutions. Detail can be found on table F.216.
(7) Capital expenditures (line 11) less the sum of U.S. internal funds (line 5) and inventory valuation adjustment (line 7).
21
Z.1, March 8, 2012
F.103 Nonfinancial Noncorporate Business

2007
2008
2009
2010
2011
2010
Q3
2011
Q4
Q1
Q2
Q3
Q4
Gross saving = consumption of fixed capital
184.3
211.3
210.8
209.7
216.4
209.8
211.4
213.0
215.4
217.6
219.7
Gross saving less net capital transfers paid (1)
184.3
214.5
216.8
217.5
218.0
217.8
214.0
215.5
218.8
217.9
219.9
Gross investment
184.3
214.5
216.8
217.5
218.0
217.8
214.0
215.5
218.8
217.9
219.9
306.5
305.6
0.9
267.2
268.0
-0.9
202.4
211.7
-9.3
211.4
209.2
2.2
232.1
235.3
-3.2
212.7
211.8
0.9
213.3
216.0
-2.7
217.7
221.4
-3.7
224.9
229.4
-4.5
237.6
241.6
-4.0
248.2
248.7
-0.5
4
5
6
4
5
6
Fixed investment (2)
Change in inventories
-122.2
-52.6
14.5
6.1
-14.1
5.0
0.7
-2.2
-6.1
-19.7
-28.3
479.4
97.2
-100.8
-144.1
27.3
-132.5
-22.0
0.8
17.8
44.2
46.6
9
10
11

66.9
14.9
2.2
3.8
-1.2
1.0
20.4
-4.8
-1.7
-21.2
-14.4
-3.0
5.2
2.5
0.5
-19.5
-13.2
-2.8
-3.3
-2.2
-0.5
0.9
-0.3
-0.1
3.4
1.4
0.3
7.3
4.0
0.8
9.0
5.2
1.1
9
10
11
12
10.0
-10.9
-6.7
-3.6
0.6
-3.3
-0.6
-0.1
0.3
1.0
1.3
12
3.0
-0.5
7.4
0.0
-7.5
-0.4
-3.0
0.0
-5.7
0.2
-1.2
0.0
-1.9
-0.2
-1.5
0.0
0.3
0.0
0.3
0.0
-1.7
-0.2
-1.4
0.0
-0.3
-0.0
-0.2
0.0
-0.0
-0.0
-0.0
0.0
0.2
0.0
0.1
0.0
0.5
0.1
0.4
0.0
0.7
0.1
0.6
0.0
13
14
15
16
54.7
330.8
3.7
0.7
326.4
-3.0
107.5
3.4
1.2
102.9
-26.3
-81.7
1.0
-0.0
-82.7
-20.3
-81.6
0.1
0.4
-82.1
3.6
14.9
3.8
0.3
10.8
-18.6
-75.0
0.5
1.2
-76.7
-3.0
-12.5
-2.5
-0.1
-9.9
-0.5
0.8
1.6
-0.2
-0.6
1.9
10.5
8.8
0.5
1.2
5.6
25.4
6.6
0.7
18.2
7.3
22.7
-1.6
0.1
24.3
17
18
19
20
21
601.6
149.9
-115.2
-150.2
41.4
-137.5
-22.7
3.0
23.8
63.9
74.9
22
464.7
323.3
-140.1
-205.9
28.0
-161.0
-18.1
-11.4
-5.1
58.5
70.0
23
140.8
16.8
307.1
119.6
16.8
186.9
-116.3
-11.2
-12.6
-83.9
7.9
-129.9
73.4
-1.8
-43.6
-69.3
35.6
-127.3
57.3
12.1
-87.6
39.6
-1.8
-49.2
57.5
-16.8
-45.8
97.1
0.7
-39.2
99.4
10.8
-40.2
24
25
26
13
14
15
16
17
18
19
20
21
22
23
24
25
26
Treasury securities
Mortgages
Consumer credit
Trade receivables
Equity investment in GSEs (3)
Other
Bank loans n.e.c.
Mortgages
27
28
29
Trade payables
Taxes payable
26.0
3.8
94.2
5.8
6.7
114.1
7.6
-6.3
33.1
-20.0
-5.2
31.6
5.9
0.9
42.6
-28.3
-4.7
31.4
-11.6
-0.8
32.8
-8.2
-0.1
34.8
13.9
0.5
40.6
14.8
1.4
45.6
3.2
1.9
49.5
27
28
29
30
12.8
-300.0
-9.6
49.3
-36.1
25.0
-25.0
-12.1
-26.1
-56.5
-49.6
30
(1) Net capital transfers paid from table F.9, line 59.
(2) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 11 and 16 respectively.
(3) Equity in the Farm Credit System.
22
Z.1, March 8, 2012
F.105 State and Local Governments, Excluding Employee Retirement Funds (1)
2007
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
1923.1
1944.8
1953.6
2064.7
2087.3
2082.1
2099.3
2092.5
2128.0
2062.1
2066.6
323.1
932.7
57.8
18.9
114.5
485.1
-9.1
334.4
944.6
47.4
19.0
106.8
505.0
-12.3
284.8
920.6
47.4
20.2
93.3
597.8
-10.5
297.5
952.6
57.9
20.8
90.9
655.9
-10.8
327.5
987.8
52.1
21.6
89.6
622.1
-13.5
300.5
955.4
57.9
20.9
90.5
668.1
-11.1
313.1
963.6
51.1
21.1
90.3
671.8
-11.6
319.0
980.7
51.7
21.3
90.6
642.1
-12.9
330.8
989.1
54.4
21.6
89.1
656.4
-13.3
325.8
987.8
49.8
21.7
89.6
600.8
-13.4
334.3
993.8
52.5
21.8
89.3
589.1
-14.3
2
3
4
5
6
7
8
Current expenditures, NIPA basis
1910.8
2017.0
2031.7
2090.0
2149.0
2087.4
2134.8
2149.7
2168.2
2145.3
2132.6
10
11
12
13
14
Consumption expenditures
Govt. social benefit payments to persons
Interest payments
Subsidies
- Wage accruals less disbursements
1368.9
433.7
101.1
7.1
0.0
1449.2
456.7
108.1
3.0
0.0
1425.5
498.1
106.7
1.4
0.0
1443.5
534.6
110.4
1.6
0.0
1475.2
557.2
116.0
0.5
0.0
1438.9
535.5
111.4
1.6
0.0
1450.1
570.6
113.2
1.0
0.0
1471.7
563.6
113.7
0.9
0.0
1482.9
570.4
114.5
0.4
0.0
1476.1
551.6
117.1
0.4
0.0
1470.2
543.3
118.6
0.5
0.0
10
11
12
13
14
15
Net state and local govt. saving, NIPA basis
12.2
-72.2
-78.1
-25.3
-61.7
-5.2
-35.5
-57.2
-40.2
-83.2
-66.1
15
16
17

178.7
-58.9
191.2
-62.8
199.0
-67.3
204.0
-78.3
214.3
-76.1
205.0
-88.0
206.8
-83.7
209.2
-72.3
212.6
-75.7
216.1
-79.2
219.5
-77.2
16
17
18
249.8
181.8
188.3
257.0
228.7
287.8
255.0
224.3
248.1
212.1
230.6
18
19
Gross investment
270.5
201.8
219.4
286.5
242.5
324.7
297.5
241.8
267.8
204.1
256.3
19
329.0
13.8
348.8
14.1
349.3
14.4
336.5
14.5
322.1
15.5
342.3
14.6
335.9
14.8
322.8
15.2
318.6
15.5
322.3
15.7
324.8
15.8
20
21
2
3
4
5
6
7
8
9
Current receipts, NIPA basis
2008
Personal current taxes

Contributions for govt. social insurance
Income receipts on assets
Current transfer receipts
20
21
Fixed investment
22
23
Net acq. of financial assets
-72.4
-161.2
-144.3
-64.6
-95.2
-32.2
-53.1
-96.1
-66.3
-133.9
-84.3
22
111.6
-102.0
5.0
40.0
-114.4
68.4
132.2
-156.8
-133.3
-93.4
-74.0
23
24
25
26
27

Security RPs
-4.8
36.4
6.6
13.0
8.5
19.1
-1.8
-3.5
19.2
10.8
4.1
8.0
6.7
-0.4
5.4
10.6
15.7
17.7
-2.4
-4.6
10.2
6.8
4.8
9.4
3.0
3.6
6.7
13.1
14.1
5.4
-2.4
-4.7
27.9
20.4
-2.4
-4.7
6.5
13.1
-4.6
-9.0
14.4
32.0
-0.1
-0.2
24
25
26
27
28
77.9
-131.8
-36.6
40.8
-84.4
46.2
76.8
-57.4
-106.1
-103.4
-70.7
28
29
30
31
Open market paper

Treasury securities
-3.0
18.3
37.0
-64.6
-50.0
-9.9
-54.5
18.8
-17.1
7.0
9.7
10.0
20.8
-59.0
-38.2
32.2
-0.6
6.9
37.0
12.8
17.4
41.3
-61.2
-33.4
13.8
-77.1
-33.4
8.2
-48.1
-45.6
19.8
-49.5
-40.5
29
30
31
32
33
34
Mortgages
0.5
11.7
13.3
-0.1
-3.1
-4.0
0.3
7.3
8.6
0.4
9.5
4.2
-0.2
-4.2
-3.7
0.3
8.5
-1.1
0.5
11.9
-2.8
-0.2
-4.2
0.2
-0.2
-4.2
-5.0
-0.3
-8.1
-9.6
-0.0
-0.2
-0.2
32
33
34
0.7
-0.1
19.0
13.1
15.9
-7.7
-28.9
-8.5
-3.9
-1.2
-40.8
-11.3
-39.4
-10.8
-27.9
-7.9
-1.1
-0.4
61.9
17.3
-48.7
-13.7
35
36
13.3
2.7
-34.3
-3.6
2.2
-23.2
8.2
-4.8
-12.2
10.8
6.7
-3.0
-4.8
11.2
-57.8
9.7
7.4
25.8
13.5
10.3
55.5
-4.8
8.7
-79.9
-4.8
13.1
-75.2
-9.2
10.1
-76.0
-0.2
13.0
0.0
37
38
39
183.9
59.2
149.2
104.6
-19.2
100.5
185.3
-60.7
-67.1
40.5
10.3
40
35
36
Corporate equities
Mutual fund shares
37
38
39
Trade receivables
Taxes receivable
40
41
146.9
20.0
111.5
66.2
-58.6
62.0
146.6
-99.9
-106.5
1.0
-29.1
41
42
43
44
45
Short-term
Other
U.S. government loans
146.2
16.8
129.4
0.7
19.2
4.7
14.4
0.8
110.7
7.7
102.9
0.8
65.3
-0.6
66.0
0.9
-59.5
-10.7
-48.8
0.9
61.5
7.1
54.4
0.5
144.6
5.0
139.6
2.0
-100.3
-8.9
-91.4
0.4
-107.3
-37.9
-69.4
0.8
-0.0
26.0
-26.1
1.1
-30.3
-22.2
-8.2
1.2
42
43
44
45
37.0
39.2
37.7
38.4
39.4
38.6
38.7
39.1
39.5
39.5
39.4
46
-20.7
-20.0
-31.1
-29.4
-13.7
-36.9
-42.6
-17.6
-19.7
8.0
-25.7
47
46
47
Trade payables
Discrepancy
(1) Data for retirement funds are shown in table F.119.

23
Z.1, March 8, 2012
F.106 Federal Government

2007
1
2
3
4
5
6
7
8
9

Taxes from the rest of the world
2008
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
2654.7
2502.2
2232.5
2429.6
2570.8
2475.4
2470.5
2527.9
2554.1
2583.5
2617.8
1165.6
94.5
362.8
14.7
945.3
29.8
44.8
-2.7
1101.3
94.0
233.7
18.8
973.1
30.7
54.4
-3.7
856.6
97.3
201.7
14.7
948.9
48.1
69.8
-4.4
896.4
101.5
329.6
13.3
970.9
53.1
69.7
-4.8
1074.7
110.8
339.3
15.7
909.3
55.4
67.4
-1.8
912.3
103.6
348.9
13.0
975.5
55.3
71.6
-4.8
927.8
101.9
329.1
13.9
977.9
55.0
69.7
-4.9
1046.8
106.7
345.4
14.3
894.6
54.6
68.1
-2.7
1065.4
112.0
340.0
15.3
900.3
54.9
67.4
-1.2
1083.3
112.3
334.5
17.0
915.1
55.5
66.9
-1.1
1103.2
112.3
337.3
16.3
927.3
56.5
67.2
-2.4
2
3
4
5
6
7
8
9
10
2900.0
3115.7
3450.4
3703.3
3752.9
3733.1
3757.8
3729.0
3829.5
3744.2
3709.0
10
11
12
13
14
15
16
Government social benefits
Other current transfer payments
Interest payments
Subsidies
848.9
1267.5
423.0
313.2
47.4
0.0
931.7
1401.2
440.7
292.1
49.9
0.0
986.6
1617.9
535.7
251.9
58.3
0.0
1054.0
1724.9
588.8
279.9
55.8
0.0
1072.6
1755.6
550.1
312.4
62.3
0.0
1066.6
1733.0
598.9
279.1
55.4
0.0
1059.6
1747.7
602.9
289.4
58.2
0.0
1059.1
1741.5
571.2
298.0
59.2
0.0
1077.5
1754.3
592.6
342.8
62.2
0.0
1084.9
1762.6
526.3
306.6
63.8
0.0
1068.8
1763.8
510.2
302.3
63.9
0.0
11
12
13
14
15
16
17
Net federal government saving, NIPA basis
-245.2
-613.5
-1217.9
-1273.7
-1182.1
-1257.7
-1287.3
-1201.1
-1275.4
-1160.7
-1091.3
17
18
19
20
21

- Insurance and pension reserves (1)
- Contr. for govt. soc. insur., U.S.-affiliated areas
112.6
0.1
4.7
56.3
120.0
-0.6
4.8
65.8
124.7
0.5
4.9
82.2
130.0
-1.7
4.9
108.1
137.9
-0.4
4.5
113.9
130.5
-2.1
4.9
116.1
132.3
-0.4
4.9
118.6
134.6
-2.1
4.4
112.7
136.8
-0.1
4.4
117.1
139.2
0.5
4.5
122.2
141.0
-0.0
4.6
103.6
18
19
20
21
22
-193.8
-563.5
-1180.8
-1254.9
-1162.1
-1246.1
-1278.0
-1181.5
-1260.0
-1148.7
-1058.4
22
23
24
25
Gross investment
Fixed investment
-217.2
127.4
-1.3
-649.0
148.4
-19.2
-1139.5
156.1
-7.1
-1206.2
168.8
0.2
-1169.7
160.3
-0.1
-934.3
170.8
1.8
-1154.2
174.7
0.1
-1292.1
160.9
0.3
-312.6
159.6
-0.2
-1862.6
164.0
-0.6
-1211.5
156.6
0.2
23
24
25
-343.3
-778.2
-1288.5
-1375.3
-1329.9
-1107.0
-1329.0
-1453.2
-472.0
-2026.0
-1368.3
26
0.2
573.2
232.0
318.2
-129.3
370.5
379.0
-605.3
39.5
-160.3
208.8
27
-0.4
25.1
1.2
6.6
0.0
0.0
-2.2
2.1
6.7
0.0
1.2
-35.5
1.9
4.2
313.1
-1.3
86.5
54.4
0.0
6.0
13.5
12.6
256.3
4.2
-61.9
-28.0
51.9
-174.2
0.3
296.1
142.0
0.6
66.0
12.6
75.0
0.6
-21.1
43.0
35.4
1.6
148.9
0.1
85.3
-47.2
0.3
3.5
-1.8
130.4
24.1
-0.7
62.5
-3.5
21.9
-257.8
-0.3
-2.4
-118.1
-0.1
3.1
4.0
108.7
40.0
1.9
63.7
3.7
4.1
71.7
-0.2
181.3
-43.7
0.4
3.7
-7.2
228.1
19.7
1.5
66.5
26.0
-1.0
175.2
0.8
79.0
-60.7
0.5
-2.2
0.0
141.4
7.3
14.9
84.2
18.6
16.3
-846.0
-1.8
121.9
-43.1
-0.0
8.6
4.9
151.5
33.3
-6.3
78.7
-1.3
24.8
-14.9
0.5
-73.5
-139.1
0.0
-11.8
6.2
71.1
58.0
9.2
28.3
7.2
16.0
-322.1
0.6
15.9
-132.3
-0.3
7.2
-0.1
141.4
10.2
-2.2
119.2
2.1
30.5
151.7
-0.4
-73.8
-158.0
-0.1
8.4
5.2
70.7
58.5
6.9
28.5
7.0
28
29
30
31
32
33
34
35
36
37
38
39
40
343.5
1351.4
1520.5
1693.6
1200.6
1477.4
1708.0
847.9
511.5
1865.6
1577.2
41
0.0
0.0
-0.7
237.1
-6.0
58.8
184.7
-0.4
0.0
29.3
1.2
76.6
33.3
43.3
0.0
0.0
-0.8
1239.2
-2.4
861.6
379.8
0.2
0.0
22.6
1.0
89.5
63.3
26.2
47.6
3.0
-0.4
1443.9
-2.8
-73.3
1519.8
0.1
0.0
-56.2
1.1
81.4
61.9
19.5
0.0
0.0
-0.3
1580.2
-3.3
-19.0
1601.8
0.7
0.0
22.1
0.9
90.6
65.7
24.9
0.0
0.0
0.0
1067.9
-2.7
-249.5
1319.0
1.1
0.0
28.4
1.3
102.9
70.8
32.1
0.0
0.0
-1.1
1390.9
-2.6
26.6
1366.4
0.5
0.0
13.4
0.7
73.5
63.3
10.3
0.0
0.0
0.0
1475.1
-3.5
-59.0
1536.8
0.8
0.0
53.3
2.5
177.1
92.1
85.0
0.0
0.0
0.0
741.5
-4.6
-297.0
1041.9
1.2
0.0
48.9
0.3
57.2
66.6
-9.4
0.0
0.0
0.0
826.4
-3.9
-661.1
1491.2
0.2
0.0
-10.1
1.7
-306.5
-305.9
-0.6
0.0
0.0
0.0
1382.6
-2.8
-215.4
1598.9
1.9
0.0
18.8
1.2
463.0
426.5
36.6
0.0
0.0
0.0
1321.2
0.3
175.6
1144.1
1.1
0.0
56.2
1.9
197.9
95.9
102.0
42
43
44
45
46
47
48
49
50
51
52
53
54
55
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
52
53
54
55

Net acq. of financial assets
Mortgages
Consumer credit (3)
Trade receivables
Taxes receivable
SDR allocations
SDR certificates
Treasury currency
Savings bonds
Treasury bills
Other Treasury securities
Budget agency securities
Multifamily residential mortgages
Trade payables
Insurance reserves
Miscellaneous liabilities (5)
Nonmarketable securities held by pension plans
Other
56
Discrepancy
23.4
85.5
-41.3
-48.6
7.5
-311.7
-123.8
110.6
-947.4
713.9
153.1
56
57
Memo:
Change in cash balance (6)
27.5
308.6
-173.2
148.9
-258.0
72.5
179.8
-910.5
48.2
-325.9
156.2
57
(2) Table F.9, line 61 less line 12.
(3) Student loans.
(4) Corporate equities purchased from financial businesses under the Troubled Asset Relief Program (TARP) and from GSEs at issuance price.
(5) 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.
(6) Time and savings deposits (line 30) plus checkable deposit and currency liabilities of the monetary authority and commercial banking sectors (table F.204, lines 3 and 8).
24
Z.1, March 8, 2012
F.107 Rest of the World

2007
2008
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
1
2
3
4
Foreign income from U.S.

U.S. imports
U.S. income payments to rest of world
Current taxes and trans. payments to rest of world
3248.7
2374.8
747.7
126.2
3381.9
2556.5
686.9
138.4
2600.3
1974.6
487.5
138.2
3021.8
2356.7
513.5
151.6
3345.3
2664.4
531.0
149.9
3057.4
2400.9
501.6
155.0
3129.4
2435.5
545.0
148.9
3269.7
2595.4
525.0
149.3
3381.5
2682.4
542.0
157.1
3353.7
2681.6
524.9
147.2
3376.5
2698.1
532.3
146.1
1
2
3
4
5
6
7
Foreign outlays to U.S.

U.S. exports
U.S. income receipts from rest of world
2532.6
1661.7
871.0
2702.9
1846.8
856.1
2222.8
1583.0
639.8
2542.7
1839.8
702.9
2884.5
2087.5
797.0
2569.5
1860.6
708.9
2664.7
1935.3
729.4
2776.2
2024.1
752.1
2888.5
2085.3
803.2
2911.5
2119.2
792.2
2961.9
2121.4
840.4
5
6
7
8
9

-0.4
716.4
5.4
673.6
-0.6
378.0
-0.7
479.9
-1.3
462.1
-1.2
489.1
-0.5
465.3
-0.5
494.0
-3.7
496.7
-0.4
442.7
-0.4
415.0
8
9
Gross investment
618.1
0.5
736.6
-0.0
245.8
0.0
254.1
0.0
486.6
0.1
657.0
0.0
117.4
0.0
624.1
0.0
138.2
0.0
735.6
0.0
448.5
0.3
10
11
10
11
12
617.6
736.6
245.8
254.1
486.5
657.0
117.4
624.1
138.2
735.6
448.2
12
13
1692.8
501.4
181.8
1082.5
881.1
1185.7
1247.9
1680.3
711.1
444.3
688.8
13
0.0
0.0
-153.6
-5.4
40.3
19.0
-35.2
943.8
-8.3
165.3
98.4
66.8
248.8
236.1
12.7
10.7
424.6
102.7
218.5
38.2
20.8
0.0
606.5
221.2
385.4
0.0
0.0
419.8
64.0
65.5
23.7
-214.0
357.7
-45.1
711.6
548.7
162.9
-228.6
-31.3
-197.3
5.9
-21.8
-64.1
105.1
-2.0
6.5
0.0
-324.9
310.1
-635.0
0.0
47.6
-293.9
-9.2
-43.1
7.2
-146.4
143.5
-41.4
555.0
569.9
-14.9
-226.0
-169.5
-56.5
7.7
-126.9
-24.9
157.2
56.5
6.6
0.0
255.7
158.6
97.1
0.0
0.0
-58.7
29.5
17.7
-7.1
-128.6
520.5
0.8
654.2
397.8
256.4
-89.1
-88.1
-0.9
13.1
-36.5
-22.0
67.3
112.2
19.4
0.0
510.3
236.2
274.0
0.0
0.0
191.2
75.8
24.9
-6.4
53.7
215.5
-1.6
286.1
120.1
166.0
-55.9
-11.9
-44.1
10.9
-66.2
42.2
-31.7
71.1
16.1
0.0
271.0
225.1
45.9
0.0
0.0
-199.5
33.0
23.6
-9.9
17.7
843.1
20.6
1030.6
785.8
244.8
-127.8
-261.0
133.2
9.9
36.5
-126.7
38.4
119.9
0.8
0.0
318.6
318.6
-0.0
0.0
0.0
31.9
61.0
65.9
-9.9
80.3
238.6
-0.9
344.4
226.1
118.4
-121.0
-116.7
-4.3
9.9
23.0
-16.8
44.6
105.1
18.4
0.0
611.8
282.2
329.5
0.0
0.0
1140.9
77.9
59.1
-9.9
230.9
9.5
28.0
47.2
110.0
-62.7
-91.1
44.5
-135.6
9.9
-31.4
46.9
2.1
150.4
5.7
0.0
13.7
114.0
-100.3
0.0
0.0
-395.4
63.3
-5.5
-9.9
-59.5
106.1
-16.8
241.2
413.0
-171.8
-85.9
2.5
-88.3
9.9
-78.0
35.6
3.4
130.7
9.8
0.0
868.2
208.4
659.8
0.0
0.0
238.4
74.0
55.0
-3.0
-206.9
702.6
17.3
651.1
153.9
497.1
-1.0
-55.4
54.4
12.0
-40.1
63.3
-86.7
-21.3
50.1
0.0
-357.9
301.1
-659.0
0.0
0.0
-219.0
88.0
-9.1
-3.0
250.2
43.9
-34.8
204.8
-196.5
401.3
-45.9
-39.0
-6.9
12.0
-115.1
23.0
-45.7
24.6
-1.0
0.0
560.0
276.9
283.1
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
1075.2
-235.2
-64.0
828.3
394.6
528.7
1130.5
1056.2
572.9
-291.3
240.6
39
0.1
256.0
170.3
-69.3
218.7
24.1
-0.0
8.3
15.8
-3.3
0.1
147.8
12.4
0.0
488.6
1.7
23.9
414.0
49.0
4.8
-394.3
-226.2
-71.0
-158.8
5.1
0.7
2.8
1.6
-1.5
0.0
-38.5
-9.9
0.0
428.9
1.4
529.8
329.1
-431.3
52.3
-106.1
211.7
59.4
163.2
-11.2
0.6
-5.1
-6.6
0.3
0.0
63.6
7.4
0.0
-292.9
1.7
-543.3
303.6
-54.8
1.8
71.7
88.2
-2.7
72.8
17.9
1.1
11.8
4.9
0.2
0.0
79.1
27.8
0.0
559.8
2.3
-10.1
351.4
216.2
21.7
-16.1
-33.4
-53.8
-8.4
29.2
-1.7
11.3
19.5
-0.3
0.0
90.1
-32.5
0.0
364.9
3.8
100.2
390.3
-129.5
4.4
33.6
132.0
13.9
89.8
28.2
1.0
4.1
23.1
0.1
0.0
67.6
33.3
0.0
258.0
1.3
-4.5
314.9
-53.7
-0.8
97.4
145.1
55.8
58.9
29.9
3.0
22.3
4.6
0.5
0.0
114.8
24.1
0.0
749.9
0.8
-0.3
372.0
377.4
14.5
181.8
212.7
120.2
44.2
47.9
-0.1
24.2
23.8
0.5
0.0
188.5
-13.1
0.0
471.8
2.3
-0.6
356.8
113.3
25.1
-64.1
-25.7
-51.9
14.0
13.7
-4.2
13.7
4.1
-1.5
0.0
107.8
-58.7
0.0
588.6
5.8
1.1
554.2
27.5
16.3
-32.7
-195.3
-256.9
19.1
41.7
-0.5
15.6
26.6
0.8
0.0
91.2
-23.9
0.0
-146.9
1.7
2.6
283.1
-434.2
31.1
-149.4
-125.4
-26.7
-111.0
13.3
-2.0
-8.2
23.5
-1.0
0.0
-27.0
-34.5
0.0
545.9
5.5
397.9
367.3
-224.8
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
98.3
-63.0
132.2
225.7
-24.5
-167.9
347.9
-130.1
358.4
-293.0
-33.5
59
-713.1
123.3
126.2
-716.0
-709.7
169.2
138.4
-679.0
-391.5
152.3
138.2
-377.4
-516.9
189.4
151.6
-479.2
-576.9
266.0
149.9
-460.8
-540.3
207.4
155.0
-487.9
-500.2
184.4
148.9
-464.7
-571.3
227.1
149.3
-493.5
-597.1
261.2
157.1
-493.0
-562.3
267.3
147.2
-442.2
-576.7
308.2
146.1
-414.6
60
61
62
63
14
15
16
17
18
19
20
21
22
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
52
53
54
55
56
57
58
59
60
61
62
63
Monetary gold (3)

SDR allocations
Net interbank assets
U.S. checkable deposits and currency
U.S. time deposits
Security RPs (net)
Open market paper
Treasury securities
Official
Private
Official
Private
U.S. corporate bonds (4)
Loans to U.S. corporate business
U.S. corporate equities
Mutual fund shares
Trade receivables
Security credit
Foreign direct investment in U.S. (5)
Other
U.S. private deposits
Commercial paper
Bonds
Bank loans n.e.c.
Official
Banks
Other
Acceptance liabilities to banks
Foreign corporate equities (6)
Trade payables
Security debt
U.S. equity in IBRD, etc.
Nonofficial foreign currencies
U.S. direct investment abroad (4,5)
Other
Discrepancy (FOF basis) (7)
Memo:
Net U.S. exports, NIPA basis
+ Net U.S. income receipts (8)
- Current taxes and trans. payments to rest of world
= Balance on current account, NIPAs

(2) Line 1 minus line 5 minus line 8; equals net lending or net borrowing (-), NIPAs, with the sign reversed. Also equal to line 63 with the sign reversed minus 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.
25
Z.1, March 8, 2012
F.108 Financial Business (1)

2007
2008
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
Gross saving less net capital transfers paid
208.1
81.7
322.2
298.1
301.8
276.8
324.9
301.7
288.2
324.9
292.3
Gross investment
288.1
-68.4
275.8
81.7
176.1
-157.8
335.1
239.6
348.4
-207.2
323.5
3
4
5
Fixed residential investment
Fixed nonresidential investment
178.2
-9.3
187.5
195.1
0.1
195.0
168.0
-0.1
168.1
186.4
4.7
181.7
194.8
-1.2
195.9
192.6
7.7
184.9
189.2
1.7
187.5
190.8
1.6
189.2
197.1
3.9
193.3
209.6
9.3
200.3
181.6
-19.5
201.0
3
4
5
109.9
-263.4
107.9
-104.6
-18.7
-350.4
145.9
48.8
151.3
-416.8
141.9
Net acqisition of financial assets
4747.6
4512.5
-1694.8
-768.6
1737.1
498.1
-624.2
4307.4
1682.6
349.3
609.2
0.5
0.0
0.5
43.2
54.2
0.6
0.0
-0.0
2.0
1351.5
0.3
3.0
4.0
-32.2
-349.5
0.3
0.0
0.9
8.7
-106.9
-0.2
0.0
0.7
-47.3
603.1
0.3
0.0
0.8
46.5
-166.6
0.2
0.0
0.5
6.8
106.1
-1.8
0.0
1.0
6.6
1794.6
0.3
0.0
0.7
18.8
764.8
0.3
0.0
0.5
-102.0
-12.1
0.6
0.0
0.5
-112.7
-134.9
8
9
10
11
12
34.2
85.6
332.9
269.2
56.1
117.3
307.9
-66.2
-29.4
198.0
-183.4
-121.0
-30.5
-99.9
-186.2
-2.3
46.5
-86.8
-30.9
-44.6
-151.5
149.2
17.6
35.8
-31.3
25.2
42.4
-184.9
24.3
-39.3
-86.3
254.4
118.1
-12.8
-41.7
119.0
100.5
-268.9
-197.8
-453.8
-56.7
-26.3
202.1
-97.9
13
14
15
16
3043.1
2349.1
-845.9
-290.9
1027.6
193.4
-207.2
1425.5
940.6
902.9
841.5
17
-94.8
108.0
308.0
180.1
584.3
34.2
436.0
858.1
51.7
7.1
-393.4
440.6
603.2
15.6
210.5
-132.0
557.1
-12.0
29.4
264.6
-105.4
988.8
198.3
17.1
200.1
117.3
388.5
-63.4
94.4
723.7
-236.4
804.6
-176.2
37.5
-132.9
111.8
1653.7
18.6
-76.5
179.5
-58.7
1087.8
69.9
4.9
184.1
-205.5
626.9
503.0
53.1
333.7
-269.4
587.0
201.7
87.0
102.9
18
19
20
21
22
335.1
424.7
1066.1
131.6
693.7
152.6
90.6
25.0
-774.6
-472.4
-287.8
-187.6
-105.4
-210.7
-499.8
-182.1
132.3
-74.6
-308.4
-20.6
-159.5
-173.1
-450.7
-283.9
29.8
-88.9
-353.7
-90.9
112.1
-102.1
-385.4
-86.2
109.9
-103.2
-368.1
14.0
139.7
-147.5
-282.7
-117.8
167.7
54.4
-197.5
107.6
23
24
25
26
166.3
117.2
-8.9
24.7
51.6
101.4
1.6
71.9
-108.4
25.8
-75.7
15.4
254.2
78.3
-130.1
79.0
10.2
91.9
-190.1
-44.1
-123.6
-23.8
27
28
1.8
65.7
-14.9
-274.2
-38.0
-21.8
-8.6
97.9
-1.4
39.6
1.7
61.9
-22.5
213.9
9.5
92.0
5.4
55.5
-12.5
33.3
-7.9
-22.7
29
30
7.5
361.8
8.2
-914.1
5.5
872.5
3.8
-392.1
9.6
583.6
10.1
161.2
31
32
8
9
10
11
12

SDR certificates
Treasury currency
Foreign deposits
13
14
15
16

Federal funds and security RPs
17
18
19
20
21
22
Open market paper

Treasury securities
23
24
25
26
Bank loans n.e.c.

Mortgages
Consumer credit
27
28
Corporate equities
Mutual fund shares
29
30
Trade receivables
Security credit
31
32

16.2
517.1
5.3
662.2
2.8
-434.8
8.2
-233.0
7.2
306.3
33
4637.8
4775.9
-1802.7
-664.0
1755.8
848.5
-770.1
4258.6
1531.4
766.1
467.2
33
34
-97.5
1801.9
-609.0
-185.8
821.9
-305.2
274.7
2989.5
128.2
400.7
-231.0
34
35
36
37
38

36.7
599.9
720.9
8.1
568.4
334.2
724.2
-889.5
-7.9
375.4
-499.0
207.8
266.3
116.1
-502.9
-201.3
232.8
373.2
-112.8
-124.5
112.0
547.9
-130.6
-340.8
476.9
213.9
-195.1
-29.8
-511.1
215.3
-92.6
104.9
510.3
916.0
-60.3
-182.0
426.4
62.1
-318.7
-814.0
505.7
299.3
20.3
393.1
35
36
37
38
39
1794.6
901.8
-1844.1
-980.3
-556.4
-703.6
-852.2
-112.0
-1010.4
-494.4
-608.9
39
-111.4
905.7
699.0
-125.6
768.7
-277.5
-448.2
-60.1
-589.2
-101.7
-46.9
-596.9
-67.6
-38.2
-343.1
189.6
-212.3
-336.6
-206.0
-64.7
-477.2
92.2
274.8
-399.0
-99.8
-333.4
-382.4
31.0
-14.3
-334.6
-294.0
-79.7
-256.4
40
41
42
70.9
225.8
4.7
496.1
33.3
6.8
-467.5
-282.6
3.4
-90.2
-144.7
0.2
-47.4
-67.3
7.2
-103.4
-244.0
3.1
-62.1
-37.3
-5.0
-46.7
-40.4
7.1
-115.8
-97.4
18.4
-39.7
-141.2
4.2
12.4
9.8
-0.9
43
44
45
40
41
42
Open market paper

43
44
45
Bank loans n.e.c.

Mortgages
46
47
Corporate equities
Mutual fund shares
178.6
364.7
637.6
31.0
314.3
490.5
190.8
389.3
153.1
411.3
208.6
570.3
170.5
405.5
90.9
1005.0
198.5
426.6
281.4
-228.0
41.6
441.6
46
47
48
49
Trade payables
Security credit
-2.4
243.0
-24.7
-237.3
48.9
-134.0
-52.0
48.4
-3.9
137.3
12.3
38.5
-148.0
25.7
1.6
-22.0
3.4
284.7
-11.9
465.7
-8.5
-179.3
48
49
50
51

33.0
201.1
66.0
125.7
25.4
135.4
16.4
208.9
58.5
139.8
48.3
219.9
2.9
258.2
36.1
140.1
56.0
-114.3
109.5
439.2
32.6
94.1
50
51
52
53
54
Taxes payable
-23.5
2.4
578.2
-133.6
11.5
858.7
6.1
-3.6
-308.8
13.0
0.4
8.8
10.2
-2.2
217.5
32.6
-8.5
546.7
24.3
3.7
-1401.2
33.2
-8.6
388.5
-6.4
-0.0
381.1
-17.0
7.4
457.7
31.2
-7.4
-357.4
52
53
54
-80.0
150.0
46.4
216.4
125.7
434.6
-10.2
62.1
-60.2
532.1
-31.2
55
55
Discrepancy
(1) Sum of financial sectors shown on tables F.109 through F.130.
26
Z.1, March 8, 2012
F.109 Monetary Authority (1)

2007
2008
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
Gross saving
1.2
3.0
-0.7
-8.5
0.3
-13.6
-18.8
-0.1
0.1
1.1
-0.0
0.8
0.6
0.7
0.7
0.8
0.7
0.7
0.7
0.7
0.8
0.8
43.1
1319.3
-3.4
186.0
494.0
-216.3
463.6
977.3
896.6
-136.5
238.7
4
5
6

SDR certificates
Treasury currency
0.5
0.0
0.5
0.6
0.0
-0.0
0.3
3.0
4.0
0.3
0.0
0.9
-0.2
0.0
0.7
0.3
0.0
0.8
0.2
0.0
0.5
-1.8
0.0
1.0
0.3
0.0
0.7
0.3
0.0
0.5
0.6
0.0
0.5
4
5
6
Federal Reserve float
0.3
-1.5
-0.6
0.7
0.8
1.5
0.6
0.2
1.9
0.6
0.6
48.6
48.6
0.0
511.1
495.4
15.7
-463.1
-447.4
-15.7
-96.4
-96.4
0.0
-0.0
-0.0
0.0
-1.5
-1.5
0.0
-0.3
-0.3
0.0
-0.7
-0.7
0.0
0.2
0.2
0.0
-0.0
-0.0
0.0
0.3
0.3
0.0
8
9
10
5.8
33.5
-80.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
11
-38.3
245.4
1001.6
271.5
376.5
-221.5
397.3
1043.0
842.0
-133.8
-245.3
12
0.0
-38.3
0.0
0.0
-264.7
19.7
0.0
300.7
1048.5
0.0
244.9
71.4
0.0
642.0
-197.9
0.0
65.3
-201.0
0.0
801.2
-372.2
0.0
1438.6
-279.8
0.0
1073.8
-176.4
0.0
103.5
-185.6
0.0
-48.1
-149.9
13
14
15
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
490.4
0.0
0.0
45.5
29.1
38.9
19.5
24.4
333.0
-347.6
47.5
0.0
-45.5
0.1
-16.7
-3.5
-5.9
-323.6
-44.8
-22.8
0.0
0.0
-3.4
-2.2
-2.5
-4.4
-9.4
-67.6
-15.7
0.0
0.0
-21.0
-20.0
-6.7
-4.2
0.0
-85.8
-51.1
0.0
0.0
-4.5
-23.1
-2.4
-4.6
0.0
-31.8
-20.0
0.0
0.0
-9.4
4.2
-2.3
-4.3
0.0
-115.7
-22.0
0.0
0.0
-6.8
-79.8
-2.6
-4.6
0.0
-55.4
-25.8
0.0
0.0
-10.1
0.0
-17.0
-2.4
0.0
-51.7
-5.8
0.0
0.0
-34.6
0.0
-5.5
-5.8
0.0
-47.4
-9.2
0.0
0.0
-32.4
0.0
-1.6
-4.2
0.0
16
17
18
19
20
21
22
23
24
0.0
25.8
24.0
1.8
0.0
530.2
529.7
0.5
25.1
-493.8
-543.5
49.6
1.3
7.8
-10.2
18.0
-26.4
142.7
99.7
42.9
1.3
2.9
-4.7
7.6
1.3
64.0
0.1
64.0
-105.5
41.1
-0.3
41.4
0.0
51.5
0.0
51.5
0.0
-4.1
2.0
-6.1
0.0
482.1
397.3
84.8
25
26
27
28
39.9
1316.7
-8.0
185.1
493.6
-219.4
479.0
978.2
895.8
-134.6
235.1
29
8
9
10
Federal Reserve loans to domestic banks

Discount window (2)
AMLF (3)
11
Security RPs
12
13
14
15
Open market paper

Treasury securities
16
17
18
19
20
21
22
23
24
Bank loans n.e.c.

Households (TALF) (4)
Rest of world
Brokers and dealers (5)
Funding corporations (Maiden Lane) (6)
Funding corporations (AIG)
Funding corporations (Maiden Lane II) (7)
Funding corporations (Maiden Lane III) (8)
Funding corporations (CPFF) (9)
25
26
27
28
29

Nonofficial foreign currencies (11)
Other
30
31
Depository institution reserves

Vault cash of commercial banks
2.1
3.3
839.2
2.7
117.0
-2.8
-8.9
-2.2
594.2
8.1
-155.7
-10.9
134.0
-28.2
1755.7
39.3
755.8
6.9
6.2
-18.9
-140.9
5.1
30
31
32
17.8
428.2
-117.6
185.0
-122.2
64.0
230.0
-822.6
165.2
-81.7
250.5
32
33
34
35
36
Due to federal government

Treasury cash holdings
Treasury general deposit account
Treasury temporary supplementary financing account
11.4
0.0
11.4
0.0
349.3
0.0
90.0
259.3
-173.8
-0.0
80.5
-254.3
149.0
-0.1
-45.9
195.0
-255.0
-0.0
-55.0
-200.0
81.0
0.0
81.0
-0.0
128.2
-0.2
128.5
0.0
-897.0
0.1
-117.3
-779.9
78.5
-0.2
78.8
0.0
-315.6
-0.1
-295.6
-20.0
114.0
0.0
114.0
0.0
33
34
35
36
37
38
39
Due to rest of the world

Due to government-sponsored enterprises
Currency outside banks
-0.0
0.9
5.5
1.3
19.4
58.2
1.0
14.0
41.2
0.9
-21.6
56.7
-3.2
51.1
85.0
5.0
-93.5
71.5
3.5
37.9
60.4
-12.8
-13.3
100.6
0.9
-11.6
97.3
9.1
150.1
74.8
-10.0
79.3
67.1
37
38
39
40
Security RPs
14.4
44.4
-10.6
-18.0
40.2
-13.7
-16.4
9.9
32.6
55.3
63.1
40
41
42
43
Federal Reserve Bank stock
Other
2.5
3.1
-0.7
2.2
2.6
-0.5
6.1
4.6
1.5
29.2
0.9
28.3
-26.7
0.4
-27.1
-103.1
0.3
-103.4
159.6
-0.6
160.3
-4.1
-0.9
-3.2
-64.6
0.8
-65.4
-95.5
-1.9
-93.6
57.4
3.6
53.8
41
42
43
-2.8
-0.2
-6.0
-10.1
-0.9
-17.5
-4.1
0.1
-1.4
2.3
-4.4
44
44
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.
(2) Loans extended to domestic banks through term auction credit, primary credit, secondary credit, and seasonal credit.
(3) Loans extended to domestic banks through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
(4) Loans extended to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF).
(5) Loans extended through the Federal Reserves Primary Dealer Credit Facility (PDCF) and AMLF.
(6) Loan extended by the Federal Reserve to Maiden Lane LLC to facilitate the arrangements associated with JPMorgan Chase & Co.s acquisition of Bear Stearns Companies, Inc.
(7) Loan extended by the Federal Reserve to Maiden Lane II LLC to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of AIG subsidiaries.
(8) Loan extended by the Federal Reserve to Maiden Lane III LLC to purchase CDOs on which AIG has written credit default swap contracts.
(9) Loan extended by the Federal Reserve to Commercial Paper Funding Facility LLC.
(10) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance
Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.
(11) Reciprocal currency arrangements (swap lines) with foreign central banks.
27
Z.1, March 8, 2012
F.110 U.S.-Chartered Commercial Banks

2007
2008
2009
2010
2011
2010
Q3
Vault cash and reserves at Federal Reserve
Total bank credit
2011
Q4
Q1
Q2
Q3
Q4
-45.1
3.3
86.1
41.6
53.9
29.1
41.1
68.7
56.6
51.1
39.1
-1.5
23.8
22.0
21.9
19.7
21.5
20.9
19.8
20.1
20.2
18.6
613.8
1245.3
-81.9
-355.1
339.7
-503.1
-119.0
787.9
421.7
-310.6
459.8
4.4
562.9
44.4
-91.2
215.1
-250.4
-37.3
515.9
657.3
-365.4
52.7
570.3
547.6
-154.4
-196.4
196.2
11.3
-11.0
-187.1
-75.0
494.4
552.5
0.0
11.1
-111.4
-54.9
0.0
-4.4
0.0
-52.0
15.7
-19.6
139.7
152.0
0.0
14.3
0.0
-26.6
-15.7
64.3
148.4
-0.5
0.1
59.9
0.1
89.0
0.0
93.9
87.1
-14.7
-0.2
117.3
-0.3
-14.9
0.0
-42.0
104.3
66.8
4.2
64.3
9.3
-40.3
0.0
83.5
186.7
119.2
0.1
105.9
0.3
-38.7
0.0
38.3
204.1
116.0
-0.4
88.2
0.4
-0.1
0.0
-28.0
124.1
38.8
1.4
75.9
4.4
3.5
0.0
-105.1
-7.5
-42.0
2.3
110.6
1.9
-80.3
0.0
-48.5
80.1
63.4
9.6
77.0
16.3
-86.1
0.0
13.7
220.7
207.1
3.4
-6.4
14.8
1.8
6
7
8
9
10
11
12
13
6
7
8
9
10
11
12
13
Open market paper

Treasury securities
Residential mortgage pass-through securities
Commercial mortgage pass-through securities
Residential CMOs and other structured MBS
Commercial CMOs and other structured MBS
Other
14
15
16
17
18
19
20
Private residential mortgage pass-through securities
Private commercial mortgage pass-through securities
Private residential CMOs and other structured MBS
Private commercial CMOs and other structured MBS
Other
12.0
101.7
15.5
0.0
64.8
0.0
21.4
23.2
-30.4
-24.4
0.0
-1.5
0.0
-4.5
1.0
49.9
9.2
1.1
-20.8
-3.7
64.2
28.4
-88.2
-9.3
-6.5
-64.5
-1.3
-6.6
42.4
9.2
-1.6
-2.3
-15.8
2.3
26.5
33.4
-0.8
-1.4
-2.6
-42.5
-1.0
46.6
81.7
-97.4
-0.9
-0.5
-45.8
0.2
-50.4
17.8
-55.4
26.1
-8.7
-28.4
-18.3
-26.1
15.8
-19.7
-23.5
0.5
-24.2
-0.5
28.0
68.6
80.2
-3.7
0.5
-7.4
19.5
71.3
67.4
31.6
-5.3
-1.6
-3.2
8.6
33.0
14
15
16
17
18
19
20
21
22
23
24
Bank loans n.e.c.

Mortgages
Consumer credit
Security credit
233.7
225.7
62.9
29.3
137.9
190.0
74.5
12.8
-298.1
-16.1
-50.6
-59.2
-45.4
-186.5
-73.7
-5.8
159.0
-117.9
1.9
37.6
-60.2
-15.9
-119.0
-81.6
72.4
-211.5
-135.8
32.8
130.8
-315.6
-54.7
-0.7
92.5
-168.0
63.0
44.3
167.1
94.3
-40.7
94.9
245.6
-82.3
39.8
11.8
21
22
23
24
25
26
Corporate equities
Mutual fund shares
1.6
3.6
2.4
1.3
6.8
14.8
-0.5
-5.8
2.5
-0.8
-5.4
-9.5
4.5
-0.2
-3.9
-1.6
16.1
-6.4
-1.2
-0.5
-1.0
5.3
25
26
10.9
0.0
28.2
6.4
0.0
128.4
0.8
0.0
27.3
4.5
0.0
-72.0
4.8
0.0
-76.4
6.1
0.0
-270.1
6.5
0.0
-77.2
5.4
0.0
453.7
4.3
0.0
-165.0
3.7
0.0
-443.3
5.8
0.0
-151.2
27
28
29
521.1
1232.7
92.2
-234.6
346.8
-144.0
-344.0
823.5
273.6
-85.4
375.4
30
27
28
29
30

Customers liab. on acceptances (2)
31
32
33
34
35

Borrowing from Federal Reserve banks
To domestic banking
To foreign banks
139.0
0.3
48.6
32.2
58.0
789.0
-1.5
511.1
113.4
166.1
-562.7
-0.6
-463.1
-4.9
-94.1
-247.2
0.7
-96.4
-62.4
-89.0
-349.0
0.8
-0.0
-60.9
-288.9
-31.9
1.5
-1.5
-64.4
32.5
107.5
0.6
-0.3
121.7
-14.6
80.4
0.2
-0.7
133.2
-52.3
-907.8
1.9
0.2
-604.7
-305.2
-311.9
0.6
-0.0
96.8
-409.3
-256.7
0.6
0.3
131.2
-388.8
31
32
33
34
35
36
37
38
39
Checkable deposits
Federal government
Rest of the world
Private domestic
9.0
14.9
5.0
-10.9
140.8
-39.5
31.2
149.1
80.9
0.3
-28.7
109.2
70.3
-0.1
-3.8
74.3
314.0
-2.7
19.6
297.1
40.9
-8.2
-19.7
68.9
217.1
50.7
-6.7
173.1
282.4
-11.7
45.9
248.1
346.0
-30.9
-2.3
379.2
415.3
-10.9
16.9
409.4
212.3
42.7
17.8
151.8
36
37
38
39
40
41
42

Large time deposits
Federal funds and security RPs (net)
255.0
23.1
-36.1
540.2
24.6
-259.0
382.9
-174.0
244.9
276.9
-150.1
-190.9
535.0
-53.5
-99.3
307.0
-138.5
-459.0
269.9
-265.8
-330.2
208.2
-15.2
-98.8
920.4
-37.6
-50.8
619.5
-159.9
-360.7
391.8
-1.3
113.3
40
41
42
43
44
45
46
47
Open market paper

Corporate bonds
Corporate equity issues
Taxes payable (net)
0.0
25.1
106.7
4.3
-13.6
0.0
8.0
71.0
10.4
-85.7
0.0
-28.3
-124.2
10.1
7.1
-19.7
10.3
-124.1
11.4
6.9
7.7
-20.7
-42.9
7.0
10.2
-26.3
26.6
-175.9
16.2
-0.9
-65.3
49.5
-96.0
3.2
16.8
-14.9
-11.0
10.3
6.4
16.9
-0.5
-3.4
-63.2
8.6
20.8
3.4
-12.9
-85.0
15.5
13.3
42.7
-55.6
-33.7
-2.6
-10.3
43
44
45
46
47
48
49
50
Investment by bank holding companies
Other
8.6
130.7
-122.2
-6.7
46.6
-53.3
255.5
106.9
148.6
121.5
-46.7
168.2
38.4
59.5
-21.1
297.7
83.3
214.4
-250.5
-342.5
92.0
358.8
-31.9
390.7
41.3
163.2
-121.9
-222.1
117.0
-339.1
-24.4
-10.2
-14.3
48
49
50
-136.2
-33.1
238.2
140.1
41.3
366.7
-204.8
84.6
-111.5
256.1
-64.0
51
535.7
-1.8
531.1
-1.7
-116.8
-2.6
-184.3
-0.8
156.9
-0.1
107.7
-1.2
-48.1
0.2
-180.9
-0.2
-128.9
0.2
401.1
0.1
536.4
-0.5
52
53
51
Discrepancy
Memo:
52
53
Credit market funds advanced (3)

Consumer leases not included above (4)
(2) Included in other loans and advances (table F.216).
(3) Total bank credit (line 5) less security credit (line 24) less corporate equities (line 25) less mutual fund shares (line 26) plus customers liability on acceptances (line 28).
(4) 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 nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
28
Z.1, March 8, 2012
F.111 Foreign Banking Offices in U.S. (1)

2007
2008
2009
2010
2011
2010
Q3
2011
Q4
Q1
Q2
Q3
Q4
Gross saving
3.6
2.5
2.5
2.6
2.7
2.6
2.6
2.7
2.7
2.7
2.8
4.1
2.9
2.7
2.6
2.9
2.7
2.8
2.8
2.9
3.0
3.0
219.8
576.8
-357.3
69.3
662.6
537.2
-710.7
1447.7
427.2
1187.6
-412.0
Reserves at Federal Reserve
Total bank credit
6
7
8
9
10
Open market paper

Treasury securities
11
12
13
Bank loans n.e.c.

Mortgages
Security credit
14
Corporate equities
15
16

0.4
238.0
45.1
66.7
360.2
63.9
143.0
1160.3
146.7
339.8
-206.0
204.6
-25.3
-286.6
-2.3
79.3
549.1
-562.4
-11.4
125.4
293.3
-90.0
0.0
3.6
2.0
0.0
77.0
0.0
5.1
-6.5
0.0
32.1
0.0
22.0
-19.3
0.0
-156.7
0.0
3.5
-4.8
0.0
-11.0
0.0
-0.5
4.0
0.0
0.6
0.0
51.5
-2.0
0.0
440.5
0.0
-26.4
-11.9
0.0
-514.6
0.0
20.8
19.6
0.0
-53.3
0.0
-10.0
-3.4
0.0
35.6
0.0
-22.0
6.5
0.0
105.0
0.0
9.3
-6.5
0.0
-84.9
6
7
8
9
10
105.0
14.1
3.0
65.1
5.2
-126.3
-125.4
-6.4
-0.8
-16.1
-2.5
28.5
36.1
-2.6
41.6
-14.2
-3.6
76.9
-12.9
0.2
3.0
65.1
-6.1
-57.5
83.8
-3.2
22.8
19.2
2.6
182.1
-23.5
-3.6
19.2
11
12
13
0.0
0.0
0.0
0.1
-0.0
0.0
0.2
-0.0
-0.2
0.0
0.0
14
0.0
14.7
-0.2
364.3
0.0
-115.9
0.0
4.9
0.0
223.1
0.0
-75.9
0.0
-291.2
0.0
298.8
0.0
155.1
0.0
554.4
0.0
-116.0
15
16
17
222.9
572.1
-355.9
70.5
667.2
544.6
-710.8
1461.5
425.8
1193.5
-412.0
17
18
19
20

To foreign banks
To domestic banks
-191.1
-169.4
-21.7
240.5
244.7
-4.3
-158.9
-176.3
17.5
48.1
40.8
7.3
493.4
506.5
-13.1
-134.8
-154.2
19.4
73.6
115.7
-42.1
1103.1
1138.1
-35.0
124.1
167.3
-43.2
742.9
686.2
56.7
3.6
34.5
-30.9
18
19
20
21
22
23
Checkable deposits
Large time deposits
2.6
6.9
273.4
1.7
0.1
-123.2
2.6
4.4
173.9
5.7
5.8
-49.6
23.7
13.2
-172.4
8.4
76.7
199.6
13.3
-60.2
90.2
-4.4
27.7
112.2
9.8
19.2
33.3
60.0
14.0
-563.0
29.5
-8.0
-271.9
21
22
23
24
25

Acceptance liabilities
-13.6
0.0
-96.3
-0.2
40.3
0.0
52.9
0.0
50.2
0.0
48.6
0.0
42.6
0.0
-26.5
0.0
-87.3
0.0
196.6
0.0
118.2
0.0
24
25
26
27
28
29
Due to affiliates
Other
144.8
-0.8
43.7
101.9
549.5
24.8
35.6
489.1
-418.2
15.3
-73.5
-360.0
7.5
7.5
-31.5
31.5
259.0
20.3
-33.7
272.4
346.0
10.2
106.7
229.2
-870.3
-3.0
-22.0
-845.4
249.5
15.6
69.5
164.4
326.8
13.8
-62.1
375.1
743.0
25.5
-133.1
850.7
-283.2
26.4
-9.2
-300.5
26
27
28
29
2.6
-5.1
1.3
1.1
4.4
7.3
-0.3
13.7
-1.5
5.6
-0.2
30
201.7
100.8
-285.8
-30.8
37.7
472.2
-565.7
46.1
102.8
111.2
-109.2
31
30
Discrepancy
Memo:
31
(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).
(2) Included in other loans and advances (table F.216).
(3) Total bank credit (line 5) less security credit (line 13) less corporate equities (line 14) plus customers liability on acceptances (line 15).
29
Z.1, March 8, 2012
F.112 Bank Holding Companies

2007
2008
2009
2010
2011
2010
Q3
2011
Q4
Q1
Q2
Q3
Q4
Gross saving
109.8
80.5
96.8
108.2
143.8
99.7
117.1
130.6
140.2
151.2
153.1
39.5
52.2
54.1
55.1
60.8
56.4
57.5
58.5
59.8
62.1
62.9
122.4
195.9
41.2
-38.1
56.3
390.2
-534.3
206.7
33.7
20.4
-35.6
23.2
13.9
-16.0
22.1
2.8
180.3
-40.7
30.8
-1.4
20.7
-38.9
4.6
-1.3
19.2
0.7
-4.0
15.9
-0.0
2.0
2.7
-7.0
-8.4
-3.2
13.8
-3.2
7.3
4.3
7.1
12.0
-20.1
3.7
48.8
32.1
99.2
0.2
9.6
-36.2
-15.5
1.3
-14.2
4.6
8.5
32.0
-28.4
37.1
0.6
-10.6
45.6
47.0
-74.3
2.4
25.6
-40.5
-15.0
-9.0
5
6
7
8
5.3
93.9
130.7
-63.0
26.2
-1.2
183.2
46.6
42.0
94.5
2.1
55.1
106.9
-91.4
39.6
3.8
-64.0
-46.7
-15.6
-1.6
2.4
51.1
59.5
-51.7
43.2
1.4
208.5
83.3
104.1
21.2
1.7
-495.2
-342.5
-172.6
20.0
0.2
175.7
-31.9
27.1
180.4
-0.5
35.7
163.2
-179.2
51.8
5.9
-6.2
117.0
-105.2
-17.9
4.2
-0.9
-10.2
50.7
-41.5
9
10
11
12
13
4
5
6
7
8
9
10
11
12
13

Treasury securities
Bank loans n.e.c.
Investment in bank subsidiaries
Investment in nonbank subsidiaries
Other
14
47.2
154.7
-11.3
-98.1
-37.0
338.9
-602.4
125.5
-56.1
-79.9
-137.2
14
15
16
17

To domestic banks
To foreign banks
-50.9
-8.7
-42.2
-69.5
-78.6
9.1
-1.6
21.9
-23.5
24.4
34.9
-10.6
75.1
101.6
-26.4
28.1
106.0
-77.9
-12.2
57.0
-69.2
10.8
-44.2
55.1
149.2
406.7
-257.5
-17.6
20.9
-38.5
158.0
22.8
135.2
15
16
17
18
0.1
-0.4
-19.9
-1.8
0.2
-33.2
71.2
-32.3
-11.4
35.7
9.0
18
19
20
21

Commercial paper
Corporate bonds
129.4
35.0
94.4
84.0
-39.0
123.0
-10.3
-18.1
7.8
-42.6
3.9
-46.5
-82.9
11.1
-94.0
204.4
2.7
201.8
-180.9
1.4
-182.3
44.3
35.6
8.7
-186.9
13.3
-200.1
-107.7
-20.9
-86.7
-81.3
16.6
-98.0
19
20
21
22
23
24
25

Equity, etc.
Other
-28.0
-3.4
-65.3
61.9
321.4
-180.7
46.1
-226.8
68.6
-48.0
13.2
-61.2
19.8
-97.9
-44.3
-53.5
2.8
-32.2
8.2
-40.4
45.8
93.7
97.3
-3.6
4.4
-484.9
-323.2
-161.7
14.9
87.7
57.1
30.6
-22.4
15.3
-0.2
15.5
19.8
-10.1
50.2
-60.3
-1.2
-221.8
-74.3
-147.4
22
23
24
25
-4.9
-12.9
-9.8
-7.0
-10.3
-8.1
-8.5
-9.1
-9.5
-11.2
-11.5
26
26
Discrepancy
F.113 Banks in U.S.-Affiliated Areas (1)

1
Gross saving
0.1
0.2
0.2
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.2
0.2
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
-0.6
-2.3
-6.4
-15.6
-2.8
-17.0
-13.7
-2.6
-4.1
14.7
-19.3
-0.3
0.6
1.0
-0.9
1.2
-0.5
-7.7
3.1
1.2
1.9
-1.2
-6.4
-1.9
-2.8
-19.3
-4.9
-11.7
-1.7
-5.1
-9.6
-6.1
1.3
Treasury securities
-1.9
-2.7
0.7
0.1
-0.6
-2.0
0.5
0.0
-0.7
-3.9
0.9
1.5
0.6
-7.7
-0.9
-1.4
-0.0
-8.0
0.9
3.6
-0.7
-12.9
2.9
-0.0
-0.2
-0.6
-0.7
0.2
0.0
-23.5
1.2
21.1
2.1
-3.7
-1.3
-2.6
-2.6
-2.6
1.4
-2.8
0.4
-2.1
2.4
-1.4
6
7
8
9
Bank loans n.e.c.

Home mortgages
-4.2
4.3
-2.7
-1.7
1.4
0.4
-0.3
-0.3
-0.0
-3.3
-2.5
-4.0
1.1
-2.4
-0.1
0.5
-1.4
-0.2
0.8
-1.3
0.2
-0.1
-5.4
1.5
-0.3
-2.2
-1.5
2.7
-1.1
-1.1
1.9
-0.7
0.8
10
11
12
6.1
-1.0
-4.5
4.5
0.8
-4.7
-4.3
-0.6
4.3
19.0
-19.4
13
-7.7
-3.4
-1.1
-14.8
-3.1
-16.5
-11.4
-2.0
-4.1
11.4
-17.6
14
1.7
1.1
1.1
-1.1
1.1
1.1
1.4
-2.9
-2.9
0.5
-5.2
-5.2
2.8
-0.4
-0.4
0.7
0.5
0.5
-1.3
-1.9
-1.9
2.2
0.3
0.3
3.9
-0.8
-0.8
-0.5
-0.1
-0.1
5.5
-0.9
-0.9
15
16
17
-11.6
-4.5
3.3
-5.0
-5.2
-18.2
-6.3
-4.9
-6.4
12.0
-21.4
18
-7.1
-1.1
5.3
0.8
-0.3
0.5
2.4
0.5
0.0
-3.3
1.6
19
6
7
8
9
10
11
12
13
14
15
16
17
Checkable deposits
Large time deposits
18
19
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.
30
Z.1, March 8, 2012
F.114 Savings Institutions (1)

2007
2008
2009
2010
2011
2010
Q3
2011
Q4
Q1
Q2
Q3
Q4
Gross saving
11.1
19.2
6.1
4.0
6.5
3.9
6.6
6.5
5.6
7.7
6.3
3.9
3.3
2.7
2.5
2.8
2.6
2.6
2.7
2.7
2.9
2.9
99.6
-290.4
-269.8
-12.4
-8.7
-54.9
227.3
-209.5
-50.4
21.5
203.6
4
5
6
7

0.6
-0.5
3.3
27.3
36.4
-11.2
-1.6
-10.9
6.5
-4.2
7.0
-22.7
-0.7
-2.4
-0.0
-6.6
17.8
-2.0
5.9
2.3
-14.2
9.9
-2.0
-3.2
-6.5
-22.1
-9.5
-6.3
47.3
5.6
23.2
-3.7
-23.2
5.3
-7.9
4.3
46.7
-13.3
13.4
5.2
0.2
-5.7
-4.9
3.4
4
5
6
7
63.0
-276.1
-249.6
6.6
-31.6
-23.7
184.8
-187.2
-30.3
-53.4
144.6
9
10
11
12
13
14
15
16
Open market paper

Treasury securities
Other
0.0
-5.4
0.3
5.8
0.0
-1.5
0.0
-4.0
0.0
-4.1
-3.5
1.9
0.0
5.6
0.0
-11.0
0.0
3.8
19.6
-12.9
0.0
10.2
-0.0
22.3
0.0
-0.9
22.9
12.5
0.0
12.1
-0.0
-1.7
0.0
-1.7
1.9
-3.3
0.6
15.7
0.5
-11.6
0.0
-2.7
16.0
9.9
0.0
19.5
0.0
-13.4
0.0
-0.5
50.5
30.9
0.0
28.1
-0.0
-8.5
0.0
0.5
14.2
-18.9
0.5
21.4
0.0
11.2
0.0
-1.9
-1.3
-10.7
1.6
18.9
1.1
-12.2
0.0
-3.2
-12.2
6.5
0.2
11.0
0.0
-30.0
0.0
-2.1
6.8
10.0
0.2
11.6
0.6
-15.6
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Private residential mortgage pass-through securities
Private commercial mortgage pass-through securities
Private residential CMOs and other structured MBS
Private commercial CMOs and other structured MBS
Other
-0.1
49.5
-4.5
0.0
39.5
0.0
14.5
-3.3
-33.7
-1.4
0.0
-41.9
0.0
9.5
1.5
-24.0
-2.6
0.0
-30.8
-0.0
9.5
1.8
-10.5
-0.4
0.0
-6.1
-0.0
-4.1
0.1
-6.1
-1.5
-0.1
-6.1
0.4
1.2
0.4
-18.9
-1.1
0.0
-9.3
0.0
-8.6
3.6
-8.8
-0.5
0.1
-4.4
-0.2
-3.9
-0.9
-12.2
-0.6
-0.4
-5.8
-0.0
-5.4
0.9
-7.8
-1.0
-0.0
-3.7
0.0
-3.1
0.0
-2.1
-0.3
-0.0
-5.0
0.1
3.1
0.5
-2.3
-4.0
0.0
-9.8
1.4
10.2
17
18
19
20
21
22
23
24
25
26

Mortgages
Consumer credit
6.2
17.2
-4.8
6.4
-233.4
-4.5
-14.5
-227.3
-8.8
6.4
-18.5
5.3
-2.3
-28.7
5.2
27.2
-51.9
6.1
3.5
117.9
18.7
0.6
-181.1
-8.3
-25.5
-5.4
10.8
12.9
-56.1
7.4
2.8
128.0
10.9
24
25
26
-0.1
6.2
-1.5
-25.4
-0.5
-6.2
-1.3
-8.0
-1.5
0.3
0.7
-22.3
4.8
82.2
-5.5
-89.1
0.7
0.7
4.7
18.3
-5.6
71.5
27
28
27
28
Corporate equities
29
116.7
-251.8
-269.8
-22.5
-11.7
-65.5
222.1
-203.6
-54.7
10.6
201.0
29
30
31
32
33
Deposits
Checkable
Small time and savings
Large time
13.2
4.5
27.6
-19.0
-156.0
-2.9
-59.6
-93.5
-53.3
13.1
89.4
-155.8
13.9
-0.8
-5.2
19.9
23.1
4.4
0.7
18.0
44.5
-3.0
19.3
28.2
166.7
2.1
139.4
25.3
-112.7
6.4
-133.3
14.3
-56.1
-8.2
-54.7
6.8
109.4
13.1
65.0
31.3
151.8
6.5
125.7
19.7
30
31
32
33
34
Security RPs
-24.1
-0.0
1.8
-6.0
-12.9
-4.2
-6.2
-37.6
-5.0
-6.2
-2.9
34
35
36
37
38

Corporate bonds
Bank loans n.e.c.
104.1
-0.3
13.3
91.1
-67.1
-8.0
13.0
-72.2
-169.6
-0.2
-29.8
-139.6
-29.0
-3.6
-1.2
-24.2
-24.0
-0.3
1.2
-24.9
-61.9
-0.9
8.6
-69.6
47.9
-0.2
-4.4
52.5
-39.9
-2.1
5.7
-43.4
-33.3
0.2
1.0
-34.5
-63.6
-0.2
-2.0
-61.4
40.9
1.1
-0.0
39.8
35
36
37
38
39
40
41
42
43
Corporate equities
Taxes payable
Investment by parent
Other
3.3
-2.0
22.2
0.2
22.0
1.7
-0.3
-30.1
2.5
-32.6
1.5
0.3
-50.5
10.6
-61.1
0.5
-0.3
-1.6
-1.0
-0.6
-0.6
0.3
2.3
-1.3
3.6
0.6
-0.5
-44.1
2.3
-46.5
0.4
0.2
13.1
-5.1
18.2
0.6
1.9
-16.0
1.0
-17.0
0.4
-2.4
41.6
-2.1
43.7
0.6
0.3
-29.8
-1.3
-28.5
-3.8
1.5
13.5
-2.8
16.4
39
40
41
42
43
24.3
54.4
3.4
-8.7
0.7
-9.4
-1.2
9.6
-1.5
-6.1
0.8
44
44
Discrepancy
(1) State-chartered savings banks, federal savings banks, cooperative banks, and savings and loan associations.
31
Z.1, March 8, 2012
F.115 Credit Unions

2007
2008
2009
2010
2011
2010
Q3
2011
Q4
Q1
Q2
Q3
Q4
Gross saving
9.0
7.0
6.8
8.8
8.4
9.1
8.9
8.3
7.2
9.9
8.1
3.8
3.9
3.5
3.4
3.7
3.4
3.5
3.6
3.6
3.8
3.8
42.5
53.8
70.3
29.3
48.7
58.2
42.0
25.2
25.1
80.3
64.2
4
5
6
7

0.0
-1.1
-0.0
-2.6
4.7
-5.7
11.4
-4.8
18.1
1.4
9.5
2.4
14.1
-6.3
5.6
-0.1
9.2
12.2
2.2
14.4
34.0
14.9
6.9
-0.5
6.6
-28.6
4.9
0.0
71.5
-77.0
-3.7
-0.0
-18.1
50.4
-0.3
75.4
-33.8
88.0
5.2
-31.8
17.2
-12.8
7.5
13.8
4
5
6
7
35.3
40.0
33.1
24.6
39.5
-41.0
76.4
50.5
10.8
24.5
72.0
9
10
11
12
Open market paper

Treasury securities
-0.5
3.0
-4.1
3.9
-0.4
-1.6
14.4
-8.9
0.0
5.3
27.9
-7.0
0.0
5.8
40.8
-15.0
0.0
4.2
28.8
0.4
0.0
-25.8
22.5
-27.4
0.0
36.7
73.7
-31.4
0.0
7.5
45.2
0.2
0.0
0.1
7.7
0.2
0.0
2.6
22.0
-0.5
0.0
6.8
40.2
1.9
9
10
11
12
13
14
15

Home mortgages
Consumer credit
0.0
31.8
1.2
2.7
33.2
0.5
2.7
3.2
1.0
0.8
2.8
-10.7
-0.2
6.9
-0.6
2.7
9.0
-21.9
-0.5
-10.1
8.0
-6.2
17.0
-13.2
5.6
-11.4
8.6
5.6
1.6
-6.8
-6.0
20.3
8.8
13
14
15
-0.0
11.0
-0.0
8.4
-0.7
6.4
0.2
-8.7
0.3
-28.9
-0.0
43.8
-0.1
-17.1
0.6
-16.7
0.6
-93.7
-0.2
28.4
0.1
-33.6
16
17
16
17
Mutual fund shares

18
39.5
54.5
72.6
25.6
41.8
54.2
41.1
19.8
13.2
74.7
59.6
18
19
20
21
22
Shares/deposits
Checkable
Large time
31.7
1.1
25.8
4.8
45.1
1.6
43.0
0.5
72.0
11.6
43.4
17.0
34.4
5.5
26.2
2.7
42.9
10.0
29.4
3.5
55.5
1.0
50.1
4.4
34.7
15.8
16.4
2.5
25.7
25.0
-3.9
4.6
23.9
-6.4
30.0
0.3
75.4
20.0
50.8
4.6
46.6
1.4
40.6
4.6
19
20
21
22
23
24

13.4
-5.6
8.3
1.1
-14.1
14.7
-0.4
-8.4
-2.0
0.9
0.8
-2.1
3.6
2.7
-9.6
3.8
-3.5
-7.2
3.7
-4.5
1.6
11.3
23
24
2.3
3.7
5.6
1.8
-2.2
1.7
4.4
-0.6
-8.4
0.4
-0.4
25
25
Discrepancy
F.116 Property-Casualty Insurance Companies

1
56.1
30.0
45.1
41.0
45.2
42.6
43.0
48.4
43.6
47.7
41.2
19.5
19.9
19.9
20.1
22.2
20.6
21.0
21.4
21.8
22.7
23.0
43.0
25.1
40.6
-15.6
-9.5
32.9
-94.0
26.5
-10.6
-21.8
-32.3
4
5
6

Security RPs
12.8
7.2
1.7
-14.8
12.1
0.8
-0.3
-3.2
0.1
5.0
-4.0
-0.7
-10.8
-1.6
-2.0
8.9
13.3
-0.7
-26.8
-9.3
-8.3
4.8
8.4
-1.2
7.1
-6.4
-4.7
-39.7
-10.2
-1.3
-15.3
1.9
-0.7
4
5
6
5.3
-15.9
33.3
3.9
-6.0
19.7
-6.3
20.4
-19.3
0.7
-25.6
-3.1
-38.7
3.8
36.1
5.9
1.3
5.8
-5.6
-11.5
10.6
-15.4
0.2
-9.3
22.9
1.9
-12.6
30.8
-0.5
-1.9
3.2
-0.4
-21.0
24.3
-0.3
-2.5
-1.2
-0.4
-1.2
-1.1
0.6
5.6
10.9
-0.4
-20.8
24.6
-0.1
-15.5
5.5
-0.4
-20.5
25.0
-0.4
2.6
6.2
1.7
5.2
4.8
-0.2
-2.0
-5.2
-1.9
-5.8
-5.4
1.0
-11.1
-4.7
2.3
6.9
6.4
1.0
0.4
-1.3
-3.7
-11.2
-10.4
0.5
8
9
10
11
12
13
8
9
10
11
12
13
Open market paper

Treasury securities
14
15
Corporate equities
Mutual fund shares
0.5
-0.5
35.1
-0.4
-2.4
0.1
-20.9
-0.1
4.6
-0.1
-22.2
-0.1
-16.3
-0.1
1.8
-0.2
-10.3
-0.0
27.0
-0.0
-0.0
-0.1
14
15
16
17
Trade receivables
-1.6
17.6
1.3
6.8
-3.7
16.7
0.8
0.4
2.9
3.3
1.3
12.7
-13.1
-13.7
2.5
-9.9
15.2
7.8
2.0
-0.3
-8.0
15.4
16
17
18
9.4
14.3
0.2
2.4
-6.6
21.8
-0.8
-1.2
29.0
-15.4
-39.0
18
19
20
21
22
Security RPs
Taxes payable (net)
-0.7
-13.2
-2.4
25.8
1.9
0.4
-28.1
40.2
-1.7
-5.3
5.3
1.9
0.8
-12.7
5.6
8.7
-1.1
-7.7
-3.9
6.1
-0.5
-10.0
13.6
18.7
3.7
-13.4
22.2
-13.3
-3.4
-11.1
8.8
4.5
0.2
2.9
-20.7
46.6
-0.6
-18.4
-25.1
28.6
-0.5
-4.4
21.3
-55.4
19
20
21
22
3.1
-0.6
-15.1
38.8
25.9
11.0
115.2
-0.6
61.3
31.3
11.6
23
23
Discrepancy
32
Z.1, March 8, 2012
F.117 Life Insurance Companies

2007
2008
2009
2010
2011
2010
Q3
2011
Q4
Q1
Q2
Q3
Q4
Gross saving
5.2
-44.8
16.4
28.2
19.8
32.1
21.9
19.4
19.2
20.7
19.9
14.1
14.4
14.3
14.5
16.0
14.9
15.2
15.4
15.8
16.4
16.6
240.5
167.1
115.3
189.9
149.5
230.6
23.8
85.2
191.1
297.1
24.7
4
5
6

Security RPs
2.3
-1.6
0.2
24.4
17.5
5.2
-32.1
-5.5
2.2
1.0
-12.7
0.7
3.3
-4.5
-0.1
6.9
-11.7
0.1
-31.2
-10.4
-0.6
-17.6
-5.0
-4.8
5.7
-7.3
-3.6
40.8
-3.7
8.0
-15.6
-2.0
-0.1
4
5
6
84.8
11.6
139.8
151.6
153.1
202.8
161.1
168.3
106.4
221.7
115.9
13.1
-17.3
5.5
-3.4
35.1
-16.7
11.5
27.7
5.8
-8.9
23.2
4.0
-0.0
5.3
23.0
32.8
24.0
4.1
-18.3
25.9
4.5
-5.8
-12.1
40.4
-15.1
1.8
14.5
23.4
34.9
21.3
-2.5
-3.7
15.7
8
9
10
4.8
43.1
13.2
22.4
5.7
-45.5
20.3
16.3
26.1
97.6
-12.6
-16.3
39.2
102.9
-0.2
-8.6
6.6
100.2
2.3
15.8
41.2
102.2
2.8
-4.4
46.1
106.7
-0.2
-3.6
11.0
127.8
-2.6
9.5
4.3
73.5
7.3
20.1
6.3
115.1
3.1
17.7
4.7
84.4
1.6
15.7
11
12
13
14
8
9
10
Open market paper

Treasury securities
11
12
13
14
Mortgages
15
16
Corporate equities
Mutual fund shares
84.1
31.3
81.8
-10.7
33.4
0.0
45.6
1.0
30.8
1.1
26.6
1.0
26.6
1.0
22.5
1.0
28.6
1.0
45.5
1.2
26.6
1.2
15
16
17
39.5
37.2
-22.5
2.8
-34.2
4.9
-122.7
-79.2
60.2
-16.3
-101.3
17
18
198.7
166.9
30.9
168.1
134.0
214.7
40.3
98.2
129.7
259.9
48.0
18
19
20
21
22
23
Security RPs
Pension fund reserves (1)
-1.1
-30.6
14.5
33.0
118.6
-7.3
-10.7
26.2
66.0
65.5
-0.5
-0.9
-6.6
25.4
25.1
-2.2
-4.8
-3.2
16.4
104.2
0.1
-13.7
1.8
58.5
50.5
4.5
7.8
-1.2
48.3
139.9
-2.9
-6.1
-0.8
2.9
95.7
-3.0
-8.7
1.8
36.1
29.1
2.1
-11.5
2.4
56.0
107.5
-1.4
-16.0
0.9
109.5
49.9
2.8
-18.5
2.0
32.6
15.3
19
20
21
22
23
24
25
Taxes payable (net)

-3.4
67.6
-19.7
46.8
-7.0
-4.6
2.6
55.1
5.2
31.5
11.7
3.7
-4.5
-44.0
3.8
39.1
-4.8
-22.1
-4.9
122.0
26.6
-12.9
24
25
-50.7
-59.4
-82.4
-8.2
-11.8
1.4
23.2
16.9
-57.9
-32.9
26.6
26
26
Discrepancy
(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 25).
F.118 Private Pension Funds (1)

1
Gross saving
0.3
0.4
0.5
0.5
0.5
0.5
0.5
0.5
0.5
0.5
0.5
1.0
0.8
0.6
0.5
0.6
0.5
0.5
0.6
0.6
0.6
0.6
31.7
-36.8
60.0
61.2
60.1
49.5
61.1
78.6
108.5
23.6
29.7
4
5
6
7

Security RPs
0.6
4.6
3.4
3.4
0.5
0.3
2.3
7.3
4.2
4.7
0.6
3.1
11.5
4.4
-0.1
0.9
12.6
4.4
-0.2
-3.6
11.0
3.3
-0.4
21.9
13.4
5.4
-0.2
1.2
13.3
3.8
-0.2
0.8
13.5
3.9
-0.2
-17.0
11.3
4.8
-0.2
3.9
12.2
5.0
-0.2
-2.1
4
5
6
7
102.5
90.6
111.6
108.0
101.9
97.5
129.5
78.6
105.9
111.3
111.6
9
10
11
Open market paper

Treasury securities
-4.8
38.7
28.2
10.2
15.4
21.3
-10.5
125.8
-49.0
-11.7
176.0
-98.1
-1.7
81.1
-13.3
-4.3
238.2
-163.1
-8.6
79.0
3.2
-0.8
53.3
-22.0
-1.6
87.7
-8.2
-2.1
93.3
-10.8
-2.4
90.3
-12.1
9
10
11
12
13

Mortgages
39.8
0.7
42.7
0.9
42.8
2.6
40.6
1.3
37.4
-1.7
28.7
-2.1
56.9
-1.0
51.3
-3.2
31.3
-3.3
34.3
-3.4
33.0
2.8
12
13
-188.3
88.1
-184.6
35.5
-175.6
89.8
-111.0
80.4
-83.5
35.3
-111.4
28.0
-86.8
79.2
-83.5
91.4
-81.1
99.5
-81.6
-25.8
-87.8
-23.8
14
15
14
15
Corporate equities
Mutual fund shares
16
17
18
19
Unallocated insurance contracts (2)
Contributions receivable
Other
17.5
26.3
4.4
-13.2
11.3
38.2
0.7
-27.6
21.6
10.1
2.5
9.0
-32.9
-4.4
-1.3
-27.2
-6.8
-0.8
0.2
-6.1
-0.4
5.2
-0.8
-4.8
-80.6
-9.2
-0.9
-70.5
-25.5
-7.3
-0.6
-17.6
-16.1
1.0
-0.1
-17.1
-0.1
1.2
0.5
-1.8
14.7
1.8
1.0
11.9
16
17
18
19
20
Pension fund reserves (liabilities) (3)
32.3
-36.4
60.1
61.2
60.2
49.5
61.1
78.7
108.5
23.7
29.8
20
(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).
(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.
(3) Equal to the net acquisition of nonfinancial and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector.
33
Z.1, March 8, 2012
F.119 State and Local Government Employee Retirement Funds

2007
2008
2009
2010
2011
2010
Q3
2011
Q4
Q1
Q2
Q3
Q4
Gross saving
0.6
0.7
0.8
0.8
0.8
0.8
0.8
0.8
0.8
0.8
0.8
2.1
1.4
0.9
0.7
0.8
0.8
0.8
0.8
0.8
0.8
0.9
0.8
17.0
-28.2
-38.5
-57.5
-47.5
-8.5
-48.1
-42.5
-76.0
-63.3
4
5
6
7

Security RPs
4.8
-0.1
-1.4
-2.5
-0.2
-0.0
1.9
1.8
-0.0
-0.0
-0.0
-0.0
-0.5
-0.0
-0.4
-0.6
1.3
0.1
1.1
1.8
-1.2
-0.0
-0.9
-1.5
0.1
0.0
0.1
0.1
3.5
0.1
2.9
4.7
-0.9
-0.0
-0.8
-1.2
2.7
0.1
2.2
3.6
-0.0
0.0
-0.0
-0.0
4
5
6
7
12.3
13.3
-8.8
-8.2
16.0
-14.0
2.8
34.2
-18.1
60.3
-12.2
-4.4
-14.6
23.3
-12.5
4.8
6.3
-2.0
28.1
-30.5
-1.6
11.1
-21.7
1.7
2.7
4.1
-1.5
14.3
-29.1
0.1
0.3
0.4
4.6
9.2
14.1
-1.2
-4.0
-6.1
3.5
8.4
13.0
-0.0
-3.0
-4.6
9
10
11
-0.8
13.6
-4.7
-1.0
15.9
-0.3
0.0
-4.3
-0.1
0.1
3.8
0.1
-0.1
7.7
-0.1
0.3
1.5
0.4
0.0
1.9
0.0
0.2
7.0
-0.8
-0.1
-6.8
0.0
-0.2
35.2
0.4
-0.0
-4.7
0.1
12
13
14
9
10
11
Open market paper

Treasury securities
12
13
14
Mortgages
15
16
Corporate equities
Mutual fund shares
-6.4
-5.2
1.2
-1.1
-17.3
-2.5
-25.8
-3.8
-68.8
-10.1
-27.4
-4.0
-10.2
-1.5
-82.8
-12.1
-18.6
-2.7
-128.7
-18.8
-45.1
-6.6
15
16
17
-0.6
-0.0
0.5
0.7
1.2
1.6
0.2
1.4
-0.1
2.8
0.7
17
2.3
17.7
-28.0
-38.5
-57.5
-47.5
-8.5
-48.1
-42.5
-75.9
-63.2
18
-287.8
441.5
112.3
18
(1) Equal to the net acquisition of nonfinancial and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector.
F.120 Federal Government Retirement Funds (1)

1
2
3
4
5
6
7
8

Treasury securities
Corporate equities
Miscellaneous assets(2)
47.8
78.9
78.2
81.9
86.6
78.0
109.8
80.4
11.7
24.2
7.4
11.0
19.3
18.9
1.5
13.9
15.8
32.4
15.2
11.3
0.3
0.1
24.2
0.0
-0.1
6.8
0.6
0.1
10.1
0.7
0.2
18.0
0.8
0.5
14.9
2.6
1.4
3.9
-1.3
-1.1
14.9
-0.5
-0.6
13.7
1.3
0.7
30.5
1.1
0.8
12.9
1.3
0.9
3
4
5
2.7
33.3
-8.6
63.3
8.8
61.9
5.2
65.7
-3.4
70.8
-4.2
63.3
16.2
92.1
0.0
66.6
2.4
-305.9
-17.4
426.5
1.2
95.9
6
7
47.8
78.9
78.2
81.9
86.6
78.0
109.8
80.4
-287.8
441.5
112.3
(1) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and nonmarketable government securities held by federal government retirement funds.
(3) Liabilities of the sector are assets of the household sector.
34
Z.1, March 8, 2012
F.121 Money Market Mutual Funds (1)

2007
2008
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
720.9
724.2
-499.0
-502.9
-112.8
-130.6
-195.1
-92.6
-60.3
-318.7
20.3
2
3
4
5
Foreign deposits
Security RPs
43.2
-4.8
63.9
211.3
2.0
5.6
84.6
-63.5
-32.2
10.4
217.9
-62.5
8.7
-3.7
-105.2
-0.5
-47.3
4.9
-88.0
4.6
46.5
-0.0
154.9
-9.3
6.8
-16.7
11.1
-126.1
6.6
55.9
-58.6
-90.8
18.8
15.7
-6.9
217.3
-102.0
-40.0
-252.3
-57.7
-112.7
-12.2
-34.0
-50.5
2
3
4
5

Open market paper
Treasury securities
375.6
66.3
95.5
104.5
100.7
8.5
738.6
-56.1
399.5
520.3
23.6
-148.8
-644.0
-108.0
-171.3
-213.2
-93.3
-58.1
-410.0
-116.3
-71.0
-140.1
-66.9
-15.7
7.2
-39.0
107.9
0.9
-37.9
-24.6
-345.3
-26.5
-152.5
-78.8
-54.3
-33.3
-319.4
-90.8
-28.7
-133.9
-39.9
-26.1
58.5
69.9
141.3
-104.6
-45.9
-2.3
-109.8
-27.0
21.9
-57.3
-45.5
-1.9
109.8
-81.3
144.3
177.6
-30.5
-100.3
-29.6
-117.6
124.2
-12.2
-29.9
5.9
6
7
8
9
10
11
6
7
8
9
10
11
12
13
Net share issues (liabilities)
31.8
-43.1
11.3
7.7
5.8
22.7
249.2
-64.2
-195.4
23.5
259.3
12
720.9
724.2
-499.0
-502.9
-112.8
-130.6
-195.1
-92.6
-60.3
-318.7
20.3
13
(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)

1
Gross saving
Security RPs
4
5
6
7
8
9
10

Open market paper
Treasury securities
11
12
Corporate equities
13
14
Discrepancy
13.4
-5.7
-83.3
-103.6
-94.8
-106.5
-109.4
-103.6
-103.6
-88.6
-83.6
364.7
31.0
490.5
389.3
411.3
570.3
405.5
1005.0
426.6
-228.0
441.6
-0.6
-7.4
28.6
-15.8
-22.3
29.4
10.3
324.3
13.1
-380.4
-46.4
271.1
-0.4
18.5
66.2
27.8
123.0
36.1
73.3
-62.5
8.7
27.3
17.4
69.9
12.4
380.7
28.6
67.6
46.4
90.6
146.2
1.3
374.3
-13.9
41.9
152.0
46.4
148.7
-0.8
421.5
-20.6
52.4
164.1
16.2
187.9
21.4
565.3
48.0
64.0
200.5
74.4
172.3
6.2
250.8
21.2
12.4
121.4
-24.9
125.9
-5.2
527.5
320.5
2.9
9.1
-45.9
184.7
56.2
388.9
-26.1
32.9
102.9
20.1
225.6
33.5
220.2
-346.0
90.9
284.6
27.2
167.4
-3.9
549.4
-30.8
83.0
259.9
63.6
173.9
-0.2
4
5
6
7
8
9
10
91.3
2.8
-38.1
3.2
86.3
-5.1
42.8
-12.0
0.6
11.5
3.4
-27.8
116.5
28.0
142.7
10.5
-7.0
31.6
-71.7
3.9
-61.5
-0.0
11
12
364.7
31.0
490.5
389.3
411.3
570.3
405.5
1005.0
426.6
-228.0
441.6
13
13.4
-5.7
-83.3
-103.6
-94.8
-106.5
-109.4
-103.6
-103.6
-88.6
-83.6
14
(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

Closed-end funds
1
2
3
4
5
6
7

Treasury securities
Corporate equities
17.6
-63.4
5.6
0.1
-2.3
13.1
-15.9
1.5
5.7
20.2
-36.9
-0.9
-1.7
1.9
-1.0
18.4
-41.1
-2.4
-13.3
-25.3
-22.3
9.6
1.2
3.2
5.2
-4.1
5.0
0.7
0.1
4.1
-4.8
-1.1
-0.3
1.1
-1.9
-1.2
8.9
0.5
1.6
6.8
4.2
6.7
0.4
-5.2
11.4
-22.6
8.5
0.5
-2.3
10.3
-7.0
2.6
-0.1
5.0
-2.3
3.1
-19.4
-1.5
-7.3
-10.6
39.6
3.7
-0.2
9.1
-5.2
-40.6
2
3
4
5
6
17.6
-63.4
5.6
0.1
-2.3
13.1
-15.9
1.5
5.7
20.2
-36.9
150.5
177.2
116.5
117.8
110.3
133.2
186.7
86.4
116.7
77.1
161.0
13.3
6.6
0.6
6.2
137.2
23.0
7.4
1.7
13.9
154.2
46.0
14.7
3.6
27.6
70.5
29.7
9.2
1.7
18.7
88.2
38.8
11.4
1.0
26.4
71.5
35.2
-0.8
2.2
33.7
98.0
-3.2
-2.8
-0.8
0.4
189.9
21.7
7.1
-0.6
15.2
64.7
43.6
15.6
1.1
26.9
73.1
45.7
17.8
0.4
27.5
31.4
44.1
5.1
3.2
35.8
116.9
9
10
11
12
13
150.5
177.2
116.5
117.8
110.3
133.2
186.7
86.4
116.7
77.1
161.0
14
8
9
10
11
12
13
14

Treasury securities
Corporate equities
35
Z.1, March 8, 2012
F.124 Government-Sponsored Enterprises (1)

2007
2008
2009
2010
2011
2010
Q3
2011
Q4
Q1
Q2
Q3
Q4
Gross saving
4.8
6.7
9.7
10.7
7.6
11.2
10.9
7.5
6.9
8.6
7.5
1.3
1.7
1.0
3.1
3.4
3.2
3.3
3.3
3.4
3.5
3.6
301.4
233.7
-360.7
-314.0
-254.2
-601.8
-161.9
-93.3
-495.3
-223.1
-205.0
-2.7
12.8
25.3
39.7
21.9
-28.2
11.1
-42.8
7.6
-36.0
0.3
20.6
-1.0
-12.7
-39.5
-207.1
-6.5
-0.3
64.2
15.9
-55.2
28.2
-9.3
25.2
-32.7
-2.5
-164.5
5.7
-45.7
-3.4
-5.0
6.9
-15.4
4
5
6
239.0
242.9
-337.8
-328.2
-199.4
-493.2
-195.6
21.8
-297.1
-358.8
-163.5
4
5
6

8
9
10
Open market paper

Treasury securities
-4.7
1.3
-11.1
14.1
1.2
207.0
3.0
5.1
-27.4
0.2
33.3
-85.1
-3.4
20.0
-12.4
-7.5
-10.6
-50.6
5.3
-57.4
7.8
-1.7
13.5
-12.4
-0.8
19.2
-22.6
-0.3
20.8
-0.4
-11.0
26.5
-13.9
8
9
10
11
12
-2.8
-17.4
-2.0
-77.7
-2.2
-33.8
-4.2
-16.9
-3.5
-35.9
-3.8
-18.9
-5.2
-57.7
-4.3
-36.6
-3.7
-59.0
-3.8
-22.9
-2.2
-25.0
11
12
13
14
15
16

Sallie Mae
Farm Credit System
FHLB loans
237.7
0.0
11.9
225.8
38.1
0.0
4.8
33.3
-284.8
0.0
-0.2
-284.6
-144.7
0.0
7.2
-151.9
-71.5
0.0
-3.5
-68.0
-222.4
0.0
23.5
-245.9
-25.6
0.0
15.1
-40.7
-36.8
0.0
4.2
-41.0
-107.6
0.0
-8.8
-98.8
-156.2
0.0
-14.4
-141.8
14.7
0.0
5.0
9.7
13
14
15
16
17
18
19
20
21
22
23
24
25
Mortgages
Home
Consolidated trusts (2)
Other
Other
Farm
Consumer credit (3)
35.9
-9.7
0.0
-9.7
42.3
0.0
42.3
3.3
0.0
62.2
8.8
0.0
8.8
42.5
0.0
42.5
10.9
0.0
2.4
-11.3
0.0
-11.3
14.2
0.0
14.2
-0.5
0.0
-110.8
-117.3
-232.5
115.1
2.0
25.3
-23.3
4.6
0.0
-92.8
-93.1
-93.4
0.3
1.8
24.5
-22.6
-1.5
0.0
-179.4
-192.7
-251.7
59.0
8.5
12.0
-3.5
4.8
0.0
-62.8
-88.8
-136.2
47.4
20.5
49.5
-29.0
5.5
0.0
100.2
102.9
89.3
13.6
-1.6
23.9
-25.5
-1.0
0.0
-122.7
-115.5
-71.5
-44.1
-5.8
23.9
-29.6
-1.4
0.0
-196.1
-201.6
-252.3
50.8
7.1
21.3
-14.1
-1.6
0.0
-152.6
-158.3
-139.1
-19.3
7.6
28.9
-21.3
-1.8
0.0
17
18
19
20
21
22
23
24
25
27.0
-42.6
1.2
29.3
-1.6
105.4
8.8
-159.2
1.5
179.2
-27.8
26
325.6
336.4
-317.1
-263.8
-193.7
-499.7
-178.0
-37.4
-463.7
-138.8
-134.9
27
282.4
282.4
0.0
282.4
0.0
271.7
271.7
0.0
271.7
0.0
-475.3
-475.3
0.0
-475.3
0.0
-233.8
-233.8
-207.2
-26.5
0.0
-200.8
-200.8
-68.9
-131.9
0.0
-372.1
-372.1
-239.7
-132.3
0.0
-254.3
-254.3
-86.8
-167.5
0.0
11.1
11.1
113.1
-102.0
0.0
-479.9
-479.9
-47.6
-432.3
0.0
-138.3
-138.3
-231.0
92.7
0.0
-196.0
-196.0
-110.2
-85.8
0.0
28
29
30
31
32
27.6
96.0
38.1
23.7
10.6
6.9
8.0
27.5
27.1
32.0
33
26
27
28
29
30
31
32

GSE issues (4)
Other
33
Corporate equities
25.5
17.7
37.1
62.2
-68.1
-16.6
-138.2
69.4
-56.5
-11.3
-27.7
29.1
34
27.7
107.8
52.2
57.7
64.6
110.1
-8.5
60.2
35.2
89.3
74.0
35
34
35
Discrepancy
(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing
Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table F.125) are consolidated on
Fannie Maes and Freddie Macs balance sheets.
(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.
(3) Sallie Mae student loans.
(4) Such issues are classified as agency- and GSE-backed securities.
F.125 Agency- and GSE-Backed Mortgage Pools (1)

1
623.3
497.0
415.3
186.9
162.6
159.7
189.6
263.7
146.5
124.0
116.3
2
3
4
5
Home mortgages
Farm mortgages
622.6
-0.7
0.0
1.4
492.2
4.6
0.0
0.1
402.5
13.0
0.0
-0.2
175.8
11.3
0.0
-0.2
148.1
16.6
0.0
-2.1
145.6
14.2
0.0
-0.1
176.9
12.8
0.0
-0.2
248.3
17.5
0.0
-2.1
123.2
23.4
0.0
-0.1
114.1
15.9
0.0
-6.0
106.7
9.6
0.0
0.0
2
3
4
5
623.3
497.0
415.3
186.9
162.6
159.7
189.6
263.7
146.5
124.0
116.3
Net increase in pool securities (liabilities)(2)
(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools are consolidated on
Fannie Maes and Freddie Macs balance sheets (table F.124). Also includes agency- and GSE-backed mortgage pool securities that are used as collateral for agency- and GSE-backed CMOs
and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans.
36
Z.1, March 8, 2012
F.126 Issuers of Asset-Backed Securities (ABS)

2007
2008
2009
2010
2011
2010
Q3
2011
Q4
Q1
Q2
Q3
Q4
Gross saving
0.6
0.5
0.4
0.4
0.4
0.4
0.4
0.4
0.4
0.4
0.3
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
340.5
-407.7
-739.9
-520.0
-269.9
-465.5
-431.0
-329.3
-257.9
-273.0
-219.6
24.7
28.6
88.6
-13.6
-27.0
37.9
-18.3
-229.2
-51.1
-13.8
-106.9
-39.0
-10.9
-5.4
-12.7
-14.4
-92.4
-19.2
-9.9
-48.7
-52.8
-16.7
-15.2
-81.9
1.6
4.2
38.8
-19.9
2.4
-6.7
-8.7
-13.0
-0.8
4
5
6
172.7
34.2
20.6
117.8
-351.6
-311.9
-10.8
-28.9
-365.7
-318.5
-5.8
-41.4
-294.1
-240.4
-8.7
-45.1
-221.9
-194.0
-7.7
-20.2
-300.0
-236.3
-8.5
-55.3
-299.3
-244.7
-15.8
-38.8
-206.7
-217.1
-2.8
13.1
-253.1
-194.8
-10.4
-47.8
-213.7
-185.2
-7.6
-20.9
-213.9
-179.0
-9.8
-25.1
7
8
9
10
22.6
3.4
-37.3
-16.1
-41.3
-34.3
-56.8
-9.5
-14.8
-4.3
-39.9
0.4
-10.9
-9.5
-15.8
7.1
-39.6
-9.8
-20.5
-14.5
16.7
0.1
11
12
4
5
6
Treasury securities
Agency- and GSE-backed securities (1)
7
8
9
10
Mortgages (2)
Home
Commercial
11
12
Consumer credit
Trade credit
13
340.0
-408.1
-740.2
-520.3
-270.2
-465.8
-431.3
-329.6
-258.1
-273.2
-219.9
13
14
15
Commercial paper
Corporate bonds (net) (3)
-194.2
534.3
-83.9
-324.3
-266.2
-474.0
-40.3
-480.0
-24.3
-245.9
114.8
-580.6
-108.6
-322.8
54.3
-383.8
-44.3
-213.8
51.2
-324.4
-158.5
-61.4
14
15
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
16
-0.5
-17.9
-0.4
-46.7
-0.4
-25.3
-0.3
0.4
-0.3
1.0
-0.3
-2.5
-0.3
-5.3
-0.3
2.7
-0.3
-1.4
-0.3
3.6
-0.3
-0.8
17
18
16
Discrepancy
17
18
Memo:
Securitized assets not included above
Consumer leases (4)
REIT assets (5)
(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.
(2) Mortgages backing privately issued pool securities and privately issued CMOs.
(3) Net issuance less net acquisition of corporate bonds held as assets.
The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
(5) Included in table F.128.
F.127 Finance Companies (1)

1
Gross saving
76.1
88.4
92.4
111.5
73.1
120.8
137.3
77.5
73.2
75.4
66.4
61.9
42.5
16.5
29.0
32.0
29.7
30.2
30.9
31.4
32.6
33.1
19.9
-59.5
-189.2
-164.3
-41.6
-174.1
-36.4
-22.9
-128.9
-28.5
13.8
4
5

0.4
1.2
0.3
0.8
0.5
1.6
-1.7
-5.0
0.4
1.2
-2.4
-7.3
-0.9
-2.7
1.7
5.2
0.3
0.8
1.9
5.7
-2.3
-6.8
4
5
16.6
4.5
24.9
-62.5
49.7
-72.3
3.0
16.9
-84.0
-8.3
-223.3
6.3
-91.0
-50.5
-88.0
-141.7
-19.6
-19.0
-56.9
-46.2
-55.6
4.8
-7.2
-41.0
-12.2
-159.2
-28.6
35.6
-56.9
-109.3
-50.4
-10.3
-5.6
-63.5
29.1
-53.3
20.4
-18.3
-61.2
5.8
-108.7
3.3
-53.5
-29.5
-28.9
-84.1
22.3
0.3
-49.6
-57.2
23.8
-26.6
42.5
-23.5
31.4
6
7
8
9
10
6
7
8
9
10
11
12

Mortgages
Consumer credit
1.7
11.8
31.9
-15.9
12.3
-5.1
17.5
23.4
-21.4
48.0
-0.9
11
26.5
-69.1
-250.2
-185.5
-52.6
-220.0
-28.1
-84.6
-128.9
-10.1
13.4
12
13
14
15
16
17

Open market paper
Corporate bonds
Bank loans n.e.c.
34.9
-15.1
-2.8
52.8
0.0
-79.4
-22.6
-49.6
-7.1
0.0
-156.2
-38.8
-87.0
-30.4
0.0
-173.9
1.7
-110.7
-64.9
0.0
-38.7
-2.2
-41.2
4.7
0.0
-143.0
-16.0
-46.1
-80.9
0.0
-66.5
-0.7
-17.5
-48.2
0.0
-9.7
30.7
-90.8
50.4
0.0
-169.8
-26.3
-58.8
-84.8
0.0
40.2
-2.2
53.4
-10.9
0.0
-15.3
-10.9
-68.7
64.2
0.0
13
14
15
16
17
18
19
20
21
22
Taxes payable
Other
-1.5
-6.9
-5.6
-13.4
12.0
-0.1
10.4
12.2
-8.4
6.5
-2.8
-91.2
12.1
-32.6
-70.7
0.3
-11.8
2.4
-15.9
1.6
0.0
-13.9
5.3
3.1
-22.2
0.6
-77.6
6.5
-4.1
-80.0
0.5
37.9
0.4
-31.7
69.2
-0.5
-74.3
4.3
-28.2
-50.5
0.1
40.8
11.5
42.3
-13.0
2.0
-52.4
-1.6
-3.0
-47.8
-1.6
30.3
6.9
1.2
22.3
18
19
20
21
22
23
Discrepancy
20.8
36.3
14.9
61.3
30.2
45.3
115.4
-15.0
41.7
61.2
32.9
23
24
Memo:
16.9
-11.8
-25.7
-15.7
5.2
-9.7
-8.3
2.4
2.0
4.3
12.1
24
(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table F.126.
37
Z.1, March 8, 2012
F.128 Real Estate Investment Trusts (REITs)

2007
2008
2009
2010
2011
2010
Q3
Gross saving
2
3

Multifamily residential investment
7
8
9
10
11
12
13
14
2011
Q4
Q1
Q2
Q3
Q4
-18.0
-11.6
7.1
7.3
5.5
6.0
7.4
7.1
5.2
7.2
2.6
11.2
-9.3
6.0
0.1
3.8
-0.1
2.6
4.7
2.8
-1.2
2.6
7.7
2.7
1.7
2.7
1.6
2.8
3.9
2.9
9.3
3.0
-19.5
2
3
-26.1
-67.9
-9.3
41.8
132.0
70.6
27.8
254.5
177.5
110.1
-14.3
-1.8
1.8
7.9
-2.8
6.5
-5.6
-4.4
22.0
-12.9
13.8
3.0
-19.9
-68.9
-8.7
37.1
114.7
59.3
53.3
207.8
175.8
89.2
-14.2

23.5
-30.2
0.7
-22.8
15.5
3.8
38.2
5.3
93.7
6.2
55.7
7.7
58.4
3.0
189.6
15.1
104.8
6.5
88.8
3.6
-8.3
-0.4
7
8
Mortgages
Home
Commercial
-13.2
-23.5
0.2
10.1
-46.9
-46.4
-0.9
0.4
-28.0
-21.7
-2.0
-4.3
-6.3
-3.7
-0.4
-2.3
14.7
14.1
-0.2
0.8
-4.1
-0.6
-0.5
-3.0
-8.1
0.6
-0.5
-8.2
3.1
0.4
-0.5
3.1
64.5
54.4
-0.0
10.1
-3.1
5.6
-0.3
-8.4
-5.5
-3.9
-0.2
-1.4
9
10
11
12
-4.4
-0.8
-8.5
7.4
10.8
16.9
-21.2
24.7
14.5
7.1
-3.1
13
25.7
-56.1
-28.5
71.0
170.6
85.5
71.4
287.3
231.3
162.4
1.4
14
15
Security RPs
-6.2
-12.3
11.1
30.0
89.5
30.6
73.7
161.9
104.5
95.2
-3.4
15
16
10.2
-53.8
-50.0
-2.1
31.1
35.7
-40.2
44.5
75.9
25.9
-22.0
16
0.0
0.7
4.8
4.7
0.0
-60.3
-0.3
6.8
0.0
-41.3
-12.1
3.4
0.0
-0.1
-2.2
0.2
0.0
25.3
-1.5
7.2
0.0
28.9
3.7
3.1
0.0
-37.5
2.4
-5.0
0.0
46.4
-9.0
7.1
0.0
59.9
-2.4
18.4
0.0
2.6
19.1
4.2
0.0
-7.5
-13.6
-0.9
17
18
19
20
17.1
4.6
12.8
-2.7
24.2
-13.8
28.2
14.9
37.5
12.5
24.4
-5.2
44.4
-6.4
64.1
16.7
39.8
11.2
30.7
10.7
15.3
11.5
21
22
31.9
-5.8
-15.8
29.3
42.5
10.6
46.7
35.7
52.4
47.3
34.8
23
-17.9
0.0
-20.2
-0.0
2.4
-46.7
0.0
-40.6
-0.0
-6.1
-25.3
0.0
-25.7
-0.0
0.4
0.4
0.0
1.1
-0.0
-0.7
1.0
0.0
1.3
-0.0
-0.3
-2.5
0.0
-0.9
-0.0
-1.5
-5.3
0.0
-0.0
-0.0
-5.2
2.7
0.0
0.6
-0.0
2.2
-1.4
0.0
0.3
-0.0
-1.7
3.6
0.0
5.0
-0.0
-1.3
-0.8
0.0
-0.6
-0.0
-0.2
24
25
26
27
28
17
18
19
20
21
22
Open market paper

Corporate bonds
Bank loans n.e.c.
Mortgages
23
Discrepancy
24
25
26
27
28
Memo:
Securitized assets included above
Home mortgages
38
Z.1, March 8, 2012
F.129 Security Brokers and Dealers

2007
2008
2009
2010
2011
2010
Q3
2011
Q4
Q1
Q2
Q3
Q4
Gross saving
-20.7
-98.5
35.4
44.6
28.0
38.1
54.5
27.0
29.6
28.5
27.2
25.7
21.3
25.1
24.6
27.1
25.2
25.6
26.1
26.7
27.8
28.1
350.3
-874.8
-133.0
-9.1
-121.6
230.1
-77.5
342.4
108.3
-548.5
-388.7
24.5
219.7
22.8
7.1
152.2
-0.7
27.3
11.1
25.4
33.4
47.3
15.1
-85.7
-21.4
250.6
-47.5
-11.4
-259.0
3.1
-28.5
-160.7
-615.1
-29.4
-192.1
-24.2
-67.6
-131.8
-3.3
47.5
-12.7
-4.6
38.1
54.9
6.2
32.2
-5.3
-28.5
38.9
4.6
35.2
-12.7
-18.5
75.2
-104.2
17.9
9.7
5.9
93.3
-2.0
-8.5
-77.7
-1.2
-7.2
-39.7
-102.4
13.8
76.2
4.4
-19.7
46.6
16.8
33.9
-5.9
-40.7
66.7
114.1
29.6
-94.3
8.2
-82.6
-94.9
3.2
76.8
-5.1
28.9
178.0
-219.6
-19.3
69.2
13.4
8.4
13.7
-12.0
47.7
-2.0
32.1
150.2
110.2
65.4
31.1
10.6
-28.0
85.9
14.3
-50.8
-1.0
3.4
-11.5
20.0
27.4
-107.9
-7.4
136.6
-31.9
-15.8
-187.4
-1.9
-37.6
-243.7
-186.8
-1.9
46.4
7.1
256.1
-75.9
-20.6
-120.2
-0.1
-26.8
-53.6
-352.9
4
5
6
7
8
9
10
11
12
13
14
392.4
-683.2
-205.4
-6.3
-86.2
238.7
-86.9
311.3
149.9
-368.5
-437.4
15
75.5
-4.0
-4.0
0.0
32.3
-2.4
243.0
210.8
29.3
3.0
-0.6
46.2
9.0
-36.1
73.4
2.4
-560.3
77.7
32.3
45.5
120.2
-24.7
-237.3
-123.8
12.8
-126.3
0.3
-70.7
55.8
65.8
-192.2
11.5
-57.5
-49.7
-4.2
-45.5
-32.4
48.9
-134.0
-74.1
-59.2
-0.8
3.2
19.8
3.5
-81.6
97.9
-3.6
-66.2
36.9
36.9
0.0
-11.1
-52.0
48.4
25.7
-5.8
28.5
-2.1
39.5
30.5
-15.7
24.7
0.4
-191.6
-37.9
-37.9
0.0
14.6
-3.9
137.3
58.1
37.6
41.6
-1.5
-1.0
13.0
15.4
-29.3
-2.2
86.1
-19.2
-19.2
0.0
-34.4
12.3
38.5
43.2
-81.6
76.9
8.0
155.9
43.5
153.6
-41.3
-8.5
134.7
134.4
134.4
0.0
-41.4
-148.0
25.7
-10.1
32.8
3.0
-10.9
-185.2
69.0
-285.6
31.3
3.7
134.7
-5.9
-5.9
0.0
-11.0
1.6
-22.0
36.2
-0.7
-57.5
2.3
220.3
6.8
157.4
56.0
-8.6
-166.8
-72.7
-72.7
0.0
30.8
3.4
284.7
217.7
44.3
22.8
0.4
70.0
15.8
-128.4
182.6
-0.0
-827.7
-43.4
-43.4
0.0
134.0
-11.9
465.7
188.7
94.9
182.1
-2.6
-90.1
16.0
-68.3
-37.7
7.4
93.4
-29.7
-29.7
0.0
-95.5
-8.5
-179.3
-210.3
11.8
19.2
-6.3
-204.1
13.2
100.8
-318.1
-7.4
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
-4.3
71.9
-62.1
22.9
36.4
21.6
19.4
-30.2
44.5
180.7
-49.6
32
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32

Open market paper
Treasury securities
Corporate equities
Security credit
Security RPs (net)
Corporate bonds
Trade payables
Security credit
Customer credit balances (HH)
From U.S.-chartered commercial banks
From foreign banking offices in U.S.
Taxes payable
Due to affiliates
Other
Discrepancy
(1) Loans extended through the Federal Reserves Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
F.130 Funding Corporations (1)

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

Security RPs
Open market paper
Investment in foreign banking offices
Investment in brokers and dealers
Open market paper
Corporate bonds
Securities loaned (net)
Equity interest under PPIP
Other (net)
380.3
973.2
-450.3
-136.5
-95.6
155.3
36.6
-563.4
-64.7
95.7
150.1
325.4
0.0
-62.7
-179.0
109.6
6.7
0.0
117.6
43.7
73.9
274.0
0.0
657.1
144.7
497.3
15.1
0.0
42.1
35.6
6.4
-175.3
0.1
-233.0
-266.8
43.6
-9.8
25.1
-67.2
-73.5
6.3
-169.1
0.0
77.9
27.5
51.9
-1.5
1.3
-46.5
-31.5
-15.0
-25.8
0.0
-66.3
-45.7
-17.4
-3.2
-26.4
22.9
-33.7
56.6
17.3
0.0
-34.6
66.3
-100.9
-0.0
1.3
171.3
106.7
64.7
62.3
0.0
86.2
-138.1
221.6
2.7
1.3
-113.2
-22.0
-91.2
-92.4
0.0
-476.2
-290.7
-174.4
-11.1
-105.5
110.8
69.5
41.3
-27.0
0.0
-60.3
4.5
-63.9
-0.9
0.0
22.7
-62.1
84.8
-185.9
0.0
352.0
215.9
136.9
-0.7
0.0
-70.5
-133.1
62.7
202.4
0.0
-80.8
-112.6
31.8
-0.0
0.0
28.6
-9.2
37.8
2
3
4
5
6
7
8
9
10
11
380.3
973.2
-450.3
-136.5
-95.6
155.3
36.6
-563.4
-64.7
95.7
150.1
12
114.5
62.9
51.5
0.0
0.0
0.0
265.9
0.6
-2.1
0.0
267.3
466.4
20.1
1.4
444.9
0.0
40.0
466.7
0.6
-353.2
0.0
819.4
-434.8
-125.1
37.9
-349.6
2.0
30.5
-45.9
0.6
-30.2
2.4
-18.7
-65.3
-47.4
-3.2
-21.9
7.2
3.5
-74.6
0.6
-123.5
7.9
40.4
-39.5
-59.9
71.6
-51.9
0.7
-18.4
-37.7
0.6
-75.0
1.4
35.3
134.5
114.5
52.8
-34.7
1.9
1.3
19.5
0.6
31.7
5.0
-17.8
-141.8
-32.7
-100.8
-11.8
3.4
1.3
177.1
0.6
-160.5
3.1
333.8
-67.1
-13.5
39.6
-93.8
0.6
-60.4
-436.0
0.6
-95.2
0.6
-342.0
36.3
-41.9
106.4
-29.6
1.4
0.0
-100.9
0.6
72.8
2.5
-176.9
31.4
-0.4
77.1
-45.9
0.6
-9.2
73.5
0.6
-3.1
2.2
73.9
-158.8
-184.0
63.4
-38.2
0.1
-3.9
312.8
0.6
-274.5
0.2
586.5
13
14
15
16
17
18
19
20
21
22
23
(1) Funding subsidiaries, nonbank financial holding companies, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities,
and funds associated with the Public-Private Investment Program (PPIP).
(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.
(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).
(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) LLC and to funds associated with PPIP.
(5) Preferred shares issued by AIG to the federal goverment under the Troubled Asset Relief Program (TARP) program and the monetary authority sectors preferred interest in
AIA Aurora LLC and ALICO Holdings LLC.
39
Z.1, March 8, 2012
F.200 U.S. Official Reserve Assets and SDR Allocations (1)

2007
2008
2009
2010
2011
2010
Q3
Net change in liabilities
Federal government: SDR allocations
3
4
5
6
Rest of the world

SDR holdings
Reserve position in IMF (net)
Foreign currency holdings
Net change in assets
2011
Q4
Q1
Q2
Q3
Q4
0.1
4.8
99.9
1.8
21.7
4.4
-0.8
14.5
25.1
16.3
31.1
0.0
0.0
47.6
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.1
0.2
-1.0
1.0
4.8
0.1
3.5
1.3
52.3
48.2
3.4
0.7
1.8
0.0
1.3
0.5
21.7
-0.9
22.7
-0.1
4.4
0.0
3.8
0.5
-0.8
0.0
-1.3
0.4
14.5
-7.8
25.7
-3.4
25.1
0.6
23.9
0.5
16.3
0.1
15.6
0.6
31.1
3.6
25.4
2.1
3
4
5
6
0.1
4.8
99.9
1.8
21.7
4.4
-0.8
14.5
25.1
16.3
31.1
-0.4
0.0
0.2
-1.0
0.5
4.2
0.0
0.1
3.5
0.6
51.9
0.0
48.2
3.4
0.3
1.6
0.0
0.0
1.3
0.3
21.9
0.0
-0.9
22.8
-0.0
4.1
0.0
0.0
3.8
0.3
-1.0
0.0
0.0
-1.3
0.2
16.3
0.0
-7.8
25.8
-1.7
24.8
0.0
0.6
23.9
0.3
16.0
0.0
0.1
15.6
0.3
30.5
0.0
3.6
25.9
1.0
8
9
10
11
12
8
9
10
11
12
Federal government
Monetary gold (2)
SDR holdings
13
14
15
Rest of the world

Monetary gold (2)
SDR allocations
0.0
0.0
0.0
0.0
0.0
0.0
47.6
0.0
47.6
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
13
14
15
16
17
18
19
Monetary authority
Monetary gold (2)
0.5
0.0
0.0
0.5
0.6
0.0
-0.0
0.6
0.3
0.0
0.0
0.3
0.3
0.0
0.0
0.3
-0.2
0.0
-0.1
-0.0
0.3
0.0
0.0
0.3
0.2
0.0
0.0
0.2
-1.8
0.0
-0.1
-1.7
0.3
0.0
0.0
0.3
0.3
0.0
0.0
0.3
0.6
0.0
-0.5
1.0
16
17
18
19
(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.
(2) By international accounting standards, transactions in monetary gold are recorded in the financial account of the domestic sectors as increases (decreases) in assets,
and the counterparts are recorded as decreases (increases) in assets of the rest of the world.
F.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

SDR certificates:
1
2
Liab: Federal government

Asset: Monetary authority
0.0
0.0
0.0
0.0
3.0
3.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1
2
Treasury currency:
3
4

-0.7
0.5
-0.8
-0.0
-0.4
4.0
-0.3
0.9
0.0
0.7
-1.1
0.8
0.0
0.5
0.0
1.0
0.0
0.7
0.0
0.5
0.0
0.5
3
4
Discrepancy (seigniorage)
-1.2
-0.8
-4.4
-1.1
-0.7
-1.9
-0.5
-1.0
-0.7
-0.5
-0.5
F.202 U.S. Deposits in Foreign Countries

1
2
3
4
5
Total rest of the world liability

Held by:
Household sector
Discrepancy--unallocated assets
256.0
-394.3
-106.1
71.7
-16.1
33.6
97.4
181.8
-64.1
-32.7
-149.4
15.4
0.9
43.2
-23.7
-25.5
2.0
-6.4
6.8
-32.2
4.3
40.5
8.7
-1.6
22.1
-47.3
2.0
41.8
46.5
5.8
48.6
6.8
10.9
28.1
6.6
-3.8
20.8
18.8
-2.0
20.7
-102.0
-11.4
18.7
-112.7
2
3
4
196.5
-347.1
-74.4
18.2
10.7
-56.8
36.2
136.2
-99.8
50.6
-44.0
40
Z.1, March 8, 2012
F.203 Net Interbank Transactions

2007
2008
2009
2010
2011
2010
Q3
1
2
3
4
5
6
7
8
9
10
11
12
13

Monetary authority
Rest of the world
Monetary authority
Credit unions
Discrepancy
2011
Q4
Q1
Q2
Q3
Q4
-97.5
1801.9
-609.0
-185.8
821.9
-305.2
274.7
2989.5
128.2
400.7
-231.0
5.4
139.0
-191.1
-50.9
842.0
789.0
240.5
-69.5
114.2
-562.7
-158.9
-1.6
-11.1
-247.2
48.1
24.4
602.3
-349.0
493.4
75.1
-166.6
-31.9
-134.8
28.1
105.8
107.5
73.6
-12.2
1795.1
80.4
1103.1
10.8
762.7
-907.8
124.1
149.2
-12.7
-311.9
742.9
-17.6
-135.8
-256.7
3.6
158.0
2
3
4
5
-99.3
1771.4
-643.4
-165.6
794.3
-366.2
138.0
2935.5
369.4
226.3
-354.0
-153.6
48.9
4.4
0.4
0.6
0.0
419.8
509.6
562.9
238.0
36.4
4.7
-293.9
-463.7
44.4
45.1
6.5
18.1
-58.7
-95.7
-91.2
66.7
-0.7
14.1
191.2
0.8
215.1
360.2
17.8
9.2
-199.5
-0.0
-250.4
63.9
-14.2
34.0
31.9
0.3
-37.3
143.0
-6.5
6.6
1140.9
-0.5
515.9
1160.3
47.3
71.5
-395.4
2.1
657.3
146.7
-23.2
-18.1
238.4
0.6
-365.4
339.8
46.7
-33.8
-219.0
0.9
52.7
-206.0
0.2
17.2
7
8
9
10
11
12
1.8
30.6
34.4
-20.2
27.6
61.0
136.6
54.0
-241.2
174.4
123.0
13
3.3
3.3
2.7
2.7
-2.8
-2.8
-2.2
-2.2
8.1
8.1
-10.9
-10.9
-28.2
-28.2
39.3
39.3
6.9
6.9
-18.9
-18.9
5.1
5.1
14
15
2.1
1.1
0.4
0.6
0.0
839.2
560.2
238.0
36.4
4.7
117.0
47.2
45.1
6.5
18.1
-8.9
-89.0
66.7
-0.7
14.1
594.2
207.0
360.2
17.8
9.2
-155.7
-239.5
63.9
-14.2
34.0
134.0
-9.1
143.0
-6.5
6.6
1755.7
476.6
1160.3
47.3
71.5
755.8
650.4
146.7
-23.2
-18.1
6.2
-346.5
339.8
46.7
-33.8
-140.9
47.6
-206.0
0.2
17.2
16
17
18
19
20
48.9
0.3
48.6
48.9
509.6
-1.5
511.1
509.6
-463.7
-0.6
-463.1
-463.7
-95.7
0.7
-96.4
-95.7
0.8
0.8
-0.0
0.8
-0.0
1.5
-1.5
-0.0
0.3
0.6
-0.3
0.3
-0.5
0.2
-0.7
-0.5
2.1
1.9
0.2
2.1
0.6
0.6
-0.0
0.6
0.9
0.6
0.3
0.9
21
22
23
24
63.9
64.2
0.3
172.6
131.5
-41.1
-109.3
-21.3
88.0
-83.3
22.7
106.0
-290.4
-218.3
72.1
24.8
3.0
-21.8
-8.3
9.1
17.4
-52.4
-42.7
9.7
-306.2
-461.5
-155.3
-406.7
-0.7
406.0
-396.3
-368.1
28.2
25
26
27
-168.8
4.5
173.3
244.3
7.4
-236.9
-171.2
2.5
173.7
44.0
96.7
52.7
505.1
190.0
-315.0
-145.2
94.4
239.6
110.0
142.0
31.9
1144.5
697.0
-447.4
161.4
-77.2
-238.6
688.5
128.6
-559.9
25.9
11.7
-14.2
28
29
30
-42.2
31.9
74.1
9.1
92.0
83.0
-23.5
-15.7
7.8
-10.6
-7.6
3.0
-26.4
-40.4
-14.0
-77.9
-64.5
13.4
-69.2
-6.5
62.7
55.1
77.2
22.2
-257.5
-183.5
74.0
-38.5
1.9
40.5
135.2
-57.4
-192.7
31
32
33
6.6
6.0
0.6
6.2
6.6
-0.4
-10.1
-15.2
5.1
8.8
5.7
3.1
-3.0
-1.5
-1.5
1.2
-7.7
8.9
0.6
6.3
-5.7
6.2
-0.1
6.4
-6.8
-1.0
-5.9
4.8
2.6
2.3
-16.1
-7.5
-8.7
34
35
36
-153.6
419.8
-293.9
-58.7
191.2
-199.5
31.9
1140.9
-395.4
238.4
-219.0
37
32.2
16.5
15.4
-0.7
113.4
-16.9
-47.3
-0.1
-4.9
8.3
-22.2
-3.9
-62.4
-23.2
-1.7
-1.3
-60.9
29.6
-0.0
2.0
-64.4
86.8
21.1
4.7
121.7
166.9
23.3
6.9
133.2
81.4
21.2
6.3
-604.7
-275.7
-44.5
10.0
96.8
184.2
8.6
1.2
131.2
128.4
14.7
-9.3
38
39
40
41
-15.7
-6.3
-9.4
-130.3
-51.6
-78.7
13.2
-4.7
17.9
39.3
5.6
33.7
90.5
-13.1
103.6
151.2
40.5
110.7
45.1
-18.8
63.9
-51.7
-13.8
-37.9
329.1
-87.6
416.7
87.4
65.2
22.2
-2.8
-16.3
13.5
42
43
44
1.8
30.6
34.4
-20.2
27.6
61.0
136.6
54.0
-241.2
174.4
123.0
45
Memo:
Vault cash:
14
15
Liab.: Monetary authority

Asset: U.S.-chartered commercial banks
Depository institution reserves:
16
17
18
19
20

Credit unions
Other transactions with the monetary authority
21
22
23
24
Liab: U.S.-chartered commercial banks

Loans to member banks
Transactions with banks in foreign countries (net):
25
26
27
Liab.: U.S.-chartered commercial banks (net)

Due to foreign affiliates
- Due from foreign affiliates
28
29
30
Foreign banking offices in U.S. (net)

31
32
33
Bank holding companies (net)

34
35
36
Less: Deposits at foreign banks

37
Asset: Rest of the world (1)

Transactions between U.S. banks (net) (2):
38
39
40
41
42
43
44
45
U.S.-chartered commercial banks (net)

Due to (3):
- Due from:
Unallocated (2)
(1) Sum of lines 25, 28, and 31 less line 34.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 12 above. However, the unallocated amount (line 45), which is due to inconsistencies
in source data, appears on line 13 as the discrepancy between liabilities and assets.
(3) Sum of lines 40, 41, and 45.
41
Z.1, March 8, 2012
F.204 Checkable Deposits and Currency

2007
2008
2009
2010
2011
2010
Q3
1
2
3
4
5
6

Monetary authority
Federal government cash and deposits
Deposits due to foreign
2011
Q4
Q1
Q2
Q3
Q4
36.7
568.4
-7.9
266.3
232.8
112.0
476.9
-511.1
510.3
426.4
505.7
17.8
11.4
0.9
-0.0
5.5
428.2
349.3
19.4
1.3
58.2
-117.6
-173.8
14.0
1.0
41.2
185.0
149.0
-21.6
0.9
56.7
-122.2
-255.0
51.1
-3.2
85.0
64.0
81.0
-93.5
5.0
71.5
230.0
128.2
37.9
3.5
60.4
-822.6
-897.0
-13.3
-12.8
100.6
165.2
78.5
-11.6
0.9
97.3
-81.7
-315.6
150.1
9.1
74.8
250.5
114.0
79.3
-10.0
67.1
2
3
4
5
6
9.0
14.9
5.0
-10.9
140.8
-39.5
31.2
149.1
80.9
0.3
-28.7
109.2
70.3
-0.1
-3.8
74.3
314.0
-2.7
19.6
297.1
40.9
-8.2
-19.7
68.9
217.1
50.7
-6.7
173.1
282.4
-11.7
45.9
248.1
346.0
-30.9
-2.3
379.2
415.3
-10.9
16.9
409.4
212.3
42.7
17.8
151.8
7
8
9
10
7
8
9
10

Federal government deposits
Private domestic deposits
11
12
13

2.6
0.3
2.3
1.7
2.4
-0.7
2.6
5.8
-3.2
5.7
4.1
1.7
23.7
4.4
19.3
8.4
5.6
2.8
13.3
10.5
2.8
-4.4
-5.5
1.1
9.8
8.7
1.1
60.0
9.6
50.4
29.5
4.9
24.6
11
12
13
14
15
16

Credit unions
1.7
4.5
1.1
-1.1
-2.9
1.6
1.4
13.1
11.6
0.5
-0.8
5.5
2.8
4.4
10.0
0.7
-3.0
1.0
-1.3
2.1
15.8
2.2
6.4
25.0
3.9
-8.2
-6.4
-0.5
13.1
20.0
5.5
6.5
1.4
14
15
16
568.4
-7.9
266.3
232.8
112.0
476.9
-511.1
510.3
426.4
505.7
17
17
36.7
18
Household sector
-71.8
236.8
38.2
-145.0
119.5
-87.9
-104.6
51.0
22.7
335.5
68.9
18
19
20
21
22
23
Corporate
Noncorporate
Federal government
58.4
-8.5
66.9
-4.8
25.1
-104.9
-108.7
3.8
8.5
313.1
147.8
127.4
20.4
19.2
-174.2
257.8
279.0
-21.2
6.7
148.9
232.1
226.9
5.2
15.7
-257.8
234.0
253.5
-19.5
10.2
71.7
373.0
376.3
-3.3
3.0
175.2
229.1
228.1
0.9
14.1
-846.0
230.5
227.1
3.4
27.9
-14.9
233.5
226.2
7.3
6.5
-322.1
235.3
226.3
9.0
14.4
151.7
19
20
21
22
23
24
25
26
Rest of the world

Checkable deposits
Currency
-5.4
5.2
-10.7
64.0
34.8
29.2
-9.2
-21.8
12.6
29.5
1.2
28.3
75.8
20.8
55.0
33.0
-9.0
42.1
61.0
7.2
53.8
77.9
27.6
50.3
63.3
7.3
56.0
74.0
35.6
38.5
88.0
12.8
75.3
24
25
26
27
Financial sectors
34.2
56.1
-29.4
-30.5
46.5
-151.5
-31.3
24.3
118.1
100.5
-56.7
27
28
29
30

Credit unions
-0.3
-0.5
-1.1
0.6
-11.2
-5.7
1.0
-4.2
1.4
-0.9
-2.4
-6.3
1.2
-2.0
12.2
-0.5
9.9
14.9
-7.7
-22.1
-28.6
3.1
5.6
-77.0
1.2
5.3
50.4
1.9
-13.3
88.0
-1.2
-5.7
-12.8
28
29
30
31
32
33
34

12.8
2.3
0.6
4.8
-14.8
24.4
0.5
-0.2
-0.3
-32.1
4.2
-0.0
5.0
1.0
11.5
-0.5
-10.8
3.3
12.6
1.3
8.9
6.9
11.0
-1.2
-26.8
-31.2
13.4
0.1
4.8
-17.6
13.3
3.5
7.1
5.7
13.5
-0.9
-39.7
40.8
11.3
2.7
-15.3
-15.6
12.2
-0.0
31
32
33
34
35
36
37
38
39

Finance companies
REITs
Brokers and dealers
-4.8
-2.7
0.4
-1.8
24.5
5.6
39.7
0.3
1.8
15.1
10.4
11.1
0.5
7.9
-29.4
-3.7
-36.0
-1.7
-2.8
6.2
4.9
-1.0
0.4
6.5
17.9
-0.0
-207.1
-2.4
-5.6
13.8
-16.7
64.2
-0.9
-4.4
29.6
55.9
28.2
1.7
22.0
-19.3
15.7
-32.7
0.3
-12.9
65.4
-40.0
5.7
1.9
13.8
27.4
-12.2
-5.0
-2.3
3.0
-1.9
35
36
37
38
39
1.0
-5.2
-0.3
-1.1
1.0
2.4
0.7
-61.4
62.7
-1.6
4.1
40
40
Mail float
42
Z.1, March 8, 2012
F.205 Time and Savings Deposits

2007
2008
2009
2010
2011
2010
Q3
1
2

2011
Q4
Q1
Q2
Q3
Q4
599.9
334.2
375.4
116.1
373.2
547.9
213.9
215.3
916.0
62.1
299.3
316.4
524.8
517.2
298.4
577.9
453.7
363.6
99.1
914.1
749.2
549.2
255.0
6.9
1.1
540.2
0.1
1.1
382.9
4.4
-2.9
276.9
5.8
-5.2
535.0
13.2
-0.4
307.0
76.7
0.5
269.9
-60.2
-1.9
208.2
27.7
0.3
920.4
19.2
-0.8
619.5
14.0
-0.1
391.8
-8.0
-0.9
3
4
5
3
4
5

6
7
Credit unions
27.6
25.8
-59.6
43.0
89.4
43.4
-5.2
26.2
0.7
29.4
19.3
50.1
139.4
16.4
-133.3
-3.9
-54.7
30.0
65.0
50.8
125.7
40.6
6
7
Large time deposits (1)
283.4
-190.6
-141.8
-182.3
-204.7
94.2
-149.7
116.2
1.9
-687.1
-249.9
9
10
11

23.1
273.4
1.1
24.6
-123.2
1.1
-174.0
173.9
-2.9
-150.1
-49.6
-5.2
-53.5
-172.4
-0.4
-138.5
199.6
0.5
-265.8
90.2
-1.9
-15.2
112.2
0.3
-37.6
33.3
-0.8
-159.9
-563.0
-0.1
-1.3
-271.9
-0.9
9
10
11
12
13
Credit unions
-19.0
4.8
-93.5
0.5
-155.8
17.0
19.9
2.7
18.0
3.5
28.2
4.4
25.3
2.5
14.3
4.6
6.8
0.3
31.3
4.6
19.7
4.6
12
13
375.4
116.1
373.2
547.9
213.9
215.3
916.0
62.1
299.3
14
14
599.9
334.2
15
Household sector
477.2
194.3
107.2
230.3
287.4
250.0
119.0
-9.8
816.2
153.4
189.6
15
16
17
18
Corporate
Noncorporate
-40.7
-55.7
14.9
-60.7
-59.4
-1.2
102.1
106.9
-4.8
-31.6
-17.2
-14.4
130.3
127.7
2.5
118.6
131.9
-13.2
-0.6
1.6
-2.2
201.6
201.9
-0.3
97.1
95.7
1.4
108.9
104.9
4.0
113.5
108.3
5.2
16
17
18
19
20
21

Federal government
Rest of the world
36.4
1.2
40.3
19.1
-1.3
65.5
10.8
0.3
-43.1
-0.4
0.1
17.7
17.7
-0.3
24.9
6.8
-0.2
23.6
3.6
0.8
65.9
5.4
-1.8
59.1
20.4
0.5
-5.5
13.1
0.6
55.0
32.0
-0.4
-9.1
19
20
21
22
Financial sectors
85.6
117.3
198.0
-99.9
-86.8
149.2
25.2
-39.3
-12.8
-268.9
-26.3
22
23
24
Credit unions
3.3
-0.0
-1.6
11.4
7.0
9.5
-0.0
5.6
5.9
2.2
-2.0
6.9
-9.5
4.9
23.2
-3.7
-7.9
-0.3
13.4
5.2
-4.9
7.5
23
24
25
26

4.6
-0.1
0.3
-0.0
4.7
-0.0
4.4
-0.0
4.4
0.1
3.3
-0.0
5.4
0.0
3.8
0.1
3.9
-0.0
4.8
0.1
5.0
0.0
25
26
27
28
29

Finance companies
63.9
12.8
1.2
84.6
21.9
0.8
217.9
-42.8
1.6
-105.2
0.3
-5.0
-88.0
-12.7
1.2
154.9
-6.5
-7.3
11.1
15.9
-2.7
-58.6
-9.3
5.2
-6.9
-2.5
0.8
-252.3
-45.7
5.7
-34.0
6.9
-6.8
27
28
29
-130.6
-195.1
-92.6
-60.3
-318.7
20.3
(1) Large time deposits are those issued in amounts of $100,000 or more.
F.206 Money Market Mutual Fund Shares

1
Net issues
720.9
724.2
-499.0
-502.9
-112.8
Net purchases
3
4
5
6
7
8
9
10
11
12
720.9
724.2
-499.0
-502.9
-112.8
-130.6
-195.1
-92.6
-60.3
-318.7
20.3
Household sector
Rest of the world
232.2
128.1
2.2
6.6
19.0
235.1
158.2
1.0
-1.8
23.7
-268.7
-56.5
-1.7
4.1
7.2
-183.4
-128.6
-3.0
5.4
-7.1
-23.0
-50.6
0.5
-2.4
-6.4
-130.0
-10.3
-2.8
4.8
-9.9
-216.9
-17.0
-0.5
6.7
-9.9
86.6
-80.5
-0.1
-2.4
-9.9
59.0
-65.7
0.3
-2.4
-9.9
-25.4
-88.8
0.8
-4.6
-3.0
-212.2
32.4
1.1
-0.1
-3.0
3
4
5
6
7

7.2
-1.6
3.4
-1.4
325.4
12.1
17.5
2.3
1.9
274.0
-3.2
-5.5
0.6
-0.0
-175.3
-4.0
-12.7
-0.1
-0.4
-169.1
-1.6
-4.5
-0.2
1.1
-25.8
13.3
-11.7
-0.4
-0.9
17.3
-9.3
-10.4
-0.2
0.1
62.3
8.4
-5.0
-0.2
2.9
-92.4
-6.4
-7.3
-0.2
-0.8
-27.0
-10.2
-3.7
-0.2
2.2
-185.9
1.9
-2.0
-0.2
-0.0
202.4
8
9
10
11
12
43
Z.1, March 8, 2012
F.207 Federal Funds and Security Repurchase Agreements

2007
2008
2009
2010
2011
2010
Q3
1
2
3
4
5
6
7
8
9
10
11

Monetary authority
REITs
Brokers and dealers (net)
2011
Q4
Q1
Q2
Q3
Q4
8.1
-889.5
207.8
-201.3
-124.5
-340.8
-29.8
104.9
-182.0
-814.0
393.1
14.4
-36.1
-13.6
0.1
-24.1
-0.7
-1.1
-6.2
75.5
44.4
-259.0
-96.3
-0.4
-0.0
1.9
-7.3
-12.3
-560.3
-10.6
244.9
40.3
-19.9
1.8
-1.7
-0.5
11.1
-57.5
-18.0
-190.9
52.9
-1.8
-6.0
0.8
-2.2
30.0
-66.2
40.2
-99.3
50.2
0.2
-12.9
-1.1
0.1
89.5
-191.6
-13.7
-459.0
48.6
-33.2
-4.2
-0.5
4.5
30.6
86.1
-16.4
-330.2
42.6
71.2
-6.2
3.7
-2.9
73.7
134.7
9.9
-98.8
-26.5
-32.3
-37.6
-3.4
-3.0
161.9
134.7
32.6
-50.8
-87.3
-11.4
-5.0
0.2
2.1
104.5
-166.8
55.3
-360.7
196.6
35.7
-6.2
-0.6
-1.4
95.2
-827.7
63.1
113.3
118.2
9.0
-2.9
-0.5
2.8
-3.4
93.4
2
3
4
5
6
7
8
9
10
239.5
-284.6
-258.7
-115.9
3.9
52.2
-68.9
483.2
52.0
-672.5
152.8
11
12
13
14
15
16
17

Rest of the world (net)
Monetary authority
Credit unions (net)
-7.5
13.0
-35.2
5.8
27.3
-2.6
-0.9
-3.5
-214.0
33.5
-10.9
-4.8
0.7
8.0
-146.4
-80.0
-22.7
2.4
4.4
10.6
-128.6
0.0
-6.6
-0.1
-0.6
-4.6
53.7
0.0
2.3
14.4
-10.7
9.4
17.7
0.0
-3.2
-0.5
22.5
13.1
80.3
0.0
-6.3
0.0
2.5
-4.7
230.9
0.0
-3.7
-0.0
-2.9
-4.7
-59.5
0.0
4.3
75.4
-2.8
-9.0
-206.9
0.0
5.2
-31.8
0.8
-0.2
250.2
0.0
3.4
13.8
12
13
14
15
16
17
18
19
20
21
22
23
24
25

Mutual funds
Government-sponsored enterprises (net)
1.7
0.2
3.4
-2.5
211.3
-0.6
25.3
0.0
0.8
5.2
7.3
1.8
-63.5
-7.4
-28.2
0.0
0.1
2.2
3.1
-0.0
-62.5
28.6
7.6
0.1
-0.7
0.7
0.9
-0.6
-0.5
-15.8
20.6
0.0
-2.0
-0.1
-3.6
1.8
4.6
-22.3
-39.5
0.0
-0.7
0.1
21.9
-1.5
-9.3
29.4
-0.3
0.0
-8.3
-0.6
1.2
0.1
-126.1
10.3
-55.2
0.0
-1.2
-4.8
0.8
4.7
-90.8
324.3
25.2
0.0
-4.7
-3.6
-17.0
-1.2
217.3
13.1
-164.5
0.0
-1.3
8.0
3.9
3.6
-57.7
-380.4
-3.4
0.0
-0.7
-0.1
-2.1
-0.0
-50.5
-46.4
-15.4
0.0
18
19
20
21
22
23
24
25
-231.4
-604.9
466.5
-85.4
-128.4
-393.0
39.1
-378.3
-234.0
-141.5
240.3
26
26
F.208 Open Market Paper

1
Total net issues, all types
2
3
4
5
6
7
8
9
10
11
12
13
Commercial paper
Foreign issues in U.S.
Nonfinancial
Financial
Financial sectors
ABS issuers
Finance companies
REITs
14
15
16
Bankers acceptances (1)

17
Net purchases, by sector
18
19
20
21
22
23
24
25
26
Household sector
Rest of the world
Monetary authority
U.S.-chartered commercial banks (1)
Foreign banking offices in U.S. (1)
Credit unions
27
28
29
30
31
32
33
34
35

Mutual funds
Brokers and dealers
(1) Excludes banks holdings of own acceptances.
-169.4
-189.0
-461.9
-79.9
-88.2
247.3
-208.8
238.2
-102.1
-196.1
-292.9
-169.4
11.3
-69.3
2.0
-71.3
-111.4
0.0
35.0
-194.2
-15.1
0.0
62.9
-188.8
7.7
-71.0
20.7
-91.7
-125.4
0.0
-39.0
-83.9
-22.6
0.0
20.1
-461.9
-73.1
59.4
-15.2
74.5
-448.2
0.0
-18.1
-266.2
-38.8
0.0
-125.1
-79.9
24.5
-2.7
-3.8
1.1
-101.7
-19.7
3.9
-40.3
1.7
0.0
-47.4
-88.2
33.3
-53.8
-0.5
-53.4
-67.6
7.7
11.1
-24.3
-2.2
0.0
-59.9
247.3
43.8
13.9
-0.6
14.5
189.6
-26.3
2.7
114.8
-16.0
0.0
114.5
-208.8
-58.7
55.8
-21.9
77.7
-206.0
-65.3
1.4
-108.6
-0.7
0.0
-32.7
238.2
25.9
120.2
19.5
100.7
92.2
-14.9
35.6
54.3
30.7
0.0
-13.5
-102.1
49.6
-51.9
17.6
-69.5
-99.8
-0.5
13.3
-44.3
-26.3
0.0
-41.9
-196.1
29.7
-256.9
-27.6
-229.3
31.0
3.4
-20.9
51.2
-2.2
0.0
-0.4
-292.9
27.9
-26.7
-11.3
-15.4
-294.0
42.7
16.6
-158.5
-10.9
0.0
-184.0
2
3
4
5
6
7
8
9
10
11
12
13
0.0
0.0
0.0
-0.2
0.0
-0.2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
14
15
16
-169.4
-189.0
-461.9
-79.9
-88.2
247.3
-208.8
238.2
-102.1
-196.1
-292.9
17
-10.2
-53.2
-3.0
-8.3
0.0
0.0
0.0
0.0
-0.5
-101.3
-12.2
-64.6
-45.1
0.0
15.7
0.0
0.0
-0.4
28.7
-1.3
-54.5
-41.4
0.0
-15.7
0.0
0.0
0.0
28.8
15.5
7.0
0.8
0.0
0.0
0.0
0.0
0.0
-5.3
3.3
20.8
-1.6
0.0
0.0
0.0
0.0
0.0
35.4
41.8
32.2
20.6
0.0
0.0
0.0
0.0
0.0
1.7
-10.2
37.0
-0.9
0.0
0.0
0.0
0.0
0.0
17.7
39.4
41.3
28.0
0.0
0.0
0.0
0.0
0.0
-11.9
-28.5
13.8
-16.8
0.0
0.0
0.0
0.0
0.0
-18.5
2.4
8.2
17.3
0.0
0.0
0.0
0.0
0.0
-8.4
0.0
19.8
-34.8
0.0
0.0
0.0
0.0
0.0
18
19
20
21
22
23
24
25
26
-3.1
13.1
-4.8
-4.4
66.3
-0.4
-4.7
22.8
-179.0
5.8
-3.4
10.2
-12.5
-56.1
-62.5
14.1
-21.4
144.7
-9.3
11.5
-10.5
-2.0
-108.0
28.6
3.0
-24.2
-266.8
-1.9
-8.9
-11.7
-1.6
-116.3
-13.9
0.2
-5.3
27.5
-2.5
-0.0
-1.7
1.7
-39.0
-20.6
-3.4
5.9
-45.7
5.6
32.8
-4.3
-1.5
-26.5
48.0
-7.5
4.4
66.3
-15.5
-18.3
-8.6
0.1
-90.8
21.2
5.3
8.2
-138.1
2.6
-5.8
-0.8
4.6
69.9
320.5
-1.7
13.4
-290.7
-2.0
-15.1
-1.6
-1.2
-27.0
-26.1
-0.8
10.6
4.5
-11.1
23.4
-2.1
3.5
-81.3
-346.0
-0.3
-7.4
215.9
0.4
-2.5
-2.4
-0.0
-117.6
-30.8
-11.0
7.1
-112.6
27
28
29
30
31
32
33
34
35
44
Z.1, March 8, 2012
F.209 Treasury Securities

2007
1
2
3
4
5
Net issues
Savings bonds
Treasury bills
Net purchases
2008
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
237.5
1239.0
1443.7
1579.6
1066.8
1390.4
1474.4
740.4
826.2
1380.7
1320.0
-6.0
58.8
184.7
-2.4
861.6
379.8
-2.8
-73.3
1519.8
-3.3
-19.0
1601.8
-2.7
-249.5
1319.0
-2.6
26.6
1366.4
-3.5
-59.0
1536.8
-4.6
-297.0
1041.9
-3.9
-661.1
1491.2
-2.8
-215.4
1598.9
0.3
175.6
1144.1
2
3
4
237.5
1239.0
1443.7
1579.6
1066.8
1390.4
1474.4
740.4
826.2
1380.7
1320.0
6
7
8
Household sector
Savings bonds
Bills and other Treasury securities
-50.0
-6.0
-44.0
156.8
-2.4
159.2
422.5
-2.8
425.2
360.1
-3.3
363.4
-157.0
-2.7
-154.3
-31.1
-2.6
-28.5
352.8
-3.5
356.3
-896.9
-4.6
-892.4
-455.8
-3.9
-451.9
150.9
-2.8
153.7
573.8
0.3
573.5
6
7
8
9
10
11

-7.1
3.0
18.3
-7.9
-7.5
-50.0
12.5
-5.7
18.8
0.4
-1.9
9.7
7.5
0.3
-59.0
4.7
-1.7
-0.6
-40.0
-0.3
12.8
-2.4
-0.0
-61.2
29.9
0.2
-77.1
-0.7
0.5
-48.1
3.3
0.7
-49.5
9
10
11
12
13
Rest of the world

Monetary authority
165.3
-38.3
711.6
-264.7
555.0
300.7
654.2
244.9
286.1
642.0
1030.6
65.3
344.4
801.2
47.2
1438.6
241.2
1073.8
651.1
103.5
204.8
-48.1
12
13
14
15
16
17

11.1
3.6
4.6
-1.9
-19.6
5.1
-4.0
-0.6
64.3
22.0
2.7
-0.7
93.9
3.5
13.8
0.6
-42.0
-0.5
7.1
-0.0
83.5
51.5
48.8
-0.7
38.3
-26.4
9.6
-0.2
-28.0
20.8
-14.2
0.0
-105.1
-10.0
-28.4
2.1
-48.5
-22.0
45.6
-2.6
13.7
9.3
25.6
0.4
14
15
16
17
18
19
Credit unions
-5.4
3.0
-4.1
-1.6
3.8
5.3
-0.9
5.8
-1.7
4.2
-2.7
-25.8
-0.5
36.7
0.5
7.5
-1.9
0.1
-3.2
2.6
-2.1
6.8
18
19
20
21
22
23
24

-38.7
-17.3
38.7
-14.6
11.3
-5.6
35.1
15.4
4.8
24.2
22.9
27.7
125.8
28.1
6.8
3.2
23.2
176.0
11.1
10.1
-1.2
5.3
81.1
2.7
18.0
10.9
24.0
238.2
14.3
14.9
5.5
25.9
79.0
0.3
3.9
6.2
-12.1
53.3
9.2
14.9
-5.2
1.8
87.7
-4.0
13.7
-4.7
34.9
93.3
8.4
30.5
-1.3
-3.7
90.3
-3.0
12.9
20
21
22
23
24
25
26
27
28
29
30
31

Mutual funds
Closed-end funds
ABS issuers
Brokers and dealers
95.5
18.5
-1.7
6.6
1.3
24.7
7.1
399.5
8.7
-2.4
7.4
1.2
-13.6
250.6
-171.3
67.6
1.2
14.7
5.1
-18.3
-67.6
-71.0
41.9
0.7
9.2
33.3
-13.8
-28.5
107.9
52.4
-0.3
11.4
20.0
-10.9
93.3
-152.5
64.0
0.5
-0.8
-10.6
-14.4
-19.7
-28.7
12.4
0.4
-2.8
-57.4
-9.9
-82.6
141.3
2.9
0.5
7.1
13.5
-16.7
8.4
21.9
32.9
-0.1
15.6
19.2
1.6
-28.0
144.3
90.9
-1.5
17.8
20.8
-19.9
136.6
124.2
83.0
-0.2
5.1
26.5
-8.7
256.1
25
26
27
28
29
30
31
237.1
1239.2
1443.9
1580.2
1067.9
1390.9
1475.1
741.5
826.4
1382.6
1321.2
32
Memo:
32
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 11).
45
Z.1, March 8, 2012
F.210 Agency- and GSE-Backed Securities (1)

2007
1
2
3
4
5
Net issues
Budget agencies
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
905.3
768.9
-59.9
-46.2
-37.1
-211.8
-64.0
276.0
-333.3
-12.4
-78.6
-0.4
282.4
623.3
0.2
271.7
497.0
0.1
-475.3
415.3
0.7
-233.8
186.9
1.1
-200.8
162.6
0.5
-372.1
159.7
0.8
-254.3
189.6
1.2
11.1
263.7
0.2
-479.9
146.5
1.9
-138.3
124.0
1.1
-196.0
116.3
2
3
4
905.3
768.9
-59.9
-46.2
-37.1
-211.8
-64.0
276.0
-333.3
-12.4
-78.6
Household sector
313.9
-2.4
37.0
97.6
-2.6
-9.9
-566.2
4.2
-17.1
91.1
0.9
10.0
-22.9
-0.2
-38.2
13.8
2.4
6.9
287.8
-11.2
17.4
432.0
-7.1
-33.4
-154.8
10.0
-33.4
-329.0
-7.5
-45.6
-39.7
3.8
-40.5
6
7
8
9
10
11
Federal government
Rest of the world
Monetary authority
0.0
248.8
0.0
54.4
-228.6
19.7
142.0
-226.0
1048.5
-47.2
-89.1
71.4
-118.1
-55.9
-197.9
-43.7
-127.8
-201.0
-60.7
-121.0
-372.2
-43.1
-91.1
-279.8
-139.1
-85.9
-176.4
-132.3
-1.0
-185.6
-158.0
-45.9
-149.9
9
10
11
12
13
14
15

-111.4
2.0
-1.3
-2.7
139.7
-6.5
15.9
-2.0
148.4
-19.3
-7.0
-3.9
87.1
-4.8
-3.2
-7.7
104.3
4.0
12.0
-8.0
186.7
-2.0
32.1
-12.9
204.1
-11.9
-36.2
-0.6
124.1
19.6
4.6
-23.5
-7.5
-3.4
37.1
-3.7
80.1
6.5
47.0
-2.6
220.7
-6.5
-40.5
-2.1
12
13
14
15
16
17
Credit unions
0.3
-4.1
-3.5
14.4
19.6
27.9
22.9
40.8
1.9
28.8
16.0
22.5
50.5
73.7
14.2
45.2
-1.3
7.7
-12.2
22.0
6.8
40.2
16
17
18
19
20
21
22

3.8
5.5
28.2
23.3
0.3
-11.5
-16.7
21.3
6.3
0.0
1.9
5.8
-49.0
-30.5
0.6
-0.4
4.0
-98.1
-21.7
0.7
-0.4
23.0
-13.3
4.1
0.8
-0.4
4.1
-163.1
-29.1
2.6
-0.4
4.5
3.2
0.4
-1.3
1.7
40.4
-22.0
14.1
-0.5
-1.9
14.5
-8.2
-6.1
1.3
2.3
21.3
-10.8
13.0
1.1
-3.7
15.7
-12.1
-4.6
1.3
18
19
20
21
22
23
24
25

Mutual funds
104.5
66.2
-11.1
520.3
27.3
207.0
-213.2
46.4
-27.4
-140.1
152.0
-85.1
0.9
164.1
-12.4
-78.8
200.5
-50.6
-133.9
121.4
7.8
-104.6
9.1
-12.4
-57.3
102.9
-22.6
177.6
284.6
-0.4
-12.2
259.9
-13.9
23
24
25
26
27
28
ABS issuers
REITs
Brokers and dealers
28.6
23.5
152.2
-27.0
0.7
-47.5
-229.2
15.5
-131.8
-106.9
38.2
38.9
-5.4
93.7
-2.0
-92.4
55.7
46.6
-48.7
58.4
-94.9
-15.2
189.6
13.7
4.2
104.8
85.9
2.4
88.8
-31.9
-13.0
-8.3
-75.9
26
27
28
6
7
8
Net purchases
2008
(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as Fannie Mae and FHLB;
and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, 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 32.
46
Z.1, March 8, 2012
F.211 Municipal Securities and Loans

2007
2008
2009
2010
2011
2010
Q3
2
3
4

Short-term (1)
Long-term
Nonprofit organizations (2)

(industrial revenue bonds)
6
7
2011
Q4
Q1
Q2
Q3
Q4
235.9
95.3
154.5
97.7
-52.2
76.9
192.4
-74.3
-110.3
-9.6
-14.7
146.2
16.8
129.4
19.2
4.7
14.4
110.7
7.7
102.9
65.3
-0.6
66.0
-59.5
-10.7
-48.8
61.5
7.1
54.4
144.6
5.0
139.6
-100.3
-8.9
-91.4
-107.3
-37.9
-69.4
-0.0
26.0
-26.1
-30.3
-22.2
-8.2
2
3
4
20.6
8.0
6.0
-2.3
-7.8
-10.9
5.9
-1.4
-4.7
-18.5
-6.7
69.0
68.2
37.8
34.7
15.1
26.3
41.9
27.4
1.7
9.0
22.3
235.9
95.3
154.5
97.7
-52.2
76.9
192.4
-74.3
-110.3
-9.6
-14.7
8
9
10
11
12
Household sector
Rest of the world
44.1
1.1
-0.5
0.5
10.7
41.3
-3.0
-0.4
-0.1
5.9
129.8
0.9
0.2
0.3
7.7
61.4
-6.3
-0.2
0.4
13.1
-78.5
-1.6
0.0
-0.2
10.9
-32.3
4.8
-0.2
0.3
9.9
146.6
-2.0
-0.0
0.5
9.9
-5.3
-2.2
-0.0
-0.2
9.9
-123.8
-1.1
0.0
-0.2
9.9
-73.2
-1.2
0.1
-0.3
12.0
-111.8
-2.0
0.1
-0.0
12.0
8
9
10
11
12
13
14
15
16

12.0
0.0
0.7
-0.1
23.2
0.0
0.5
-3.3
1.0
0.0
0.9
1.5
28.4
0.0
-0.9
1.8
42.4
0.0
0.9
0.1
33.4
0.0
2.9
0.4
81.7
0.0
-0.7
3.6
17.8
0.0
1.2
-0.9
15.8
0.0
-1.3
0.9
68.6
0.0
1.4
0.0
67.4
0.0
2.4
0.5
13
14
15
16
17
18
19

36.1
4.8
-0.8
10.6
5.7
-1.0
-12.6
26.1
0.0
-21.0
39.2
0.1
-1.2
6.6
-0.1
-20.8
41.2
0.3
-20.5
46.1
0.0
5.2
11.0
0.2
-5.8
4.3
-0.1
6.9
6.3
-0.2
-11.2
4.7
-0.0
17
18
19
20
21
22
23
24
25

Mutual funds
Closed-end funds
Brokers and dealers
100.7
27.8
1.9
0.6
-2.8
-0.7
23.6
17.4
-13.3
1.7
-2.0
-11.4
-93.3
90.6
3.2
3.6
-2.2
-3.3
-66.9
46.4
0.1
1.7
-4.2
4.6
-37.9
16.2
1.1
1.0
-3.5
-8.5
-54.3
74.4
1.6
2.2
-3.8
16.8
-39.9
-24.9
-5.2
-0.8
-5.2
3.2
-45.9
-45.9
-2.3
-0.6
-4.3
-12.0
-45.5
20.1
5.0
1.1
-3.7
14.3
-30.5
27.2
-7.3
0.4
-3.8
-15.8
-29.9
63.6
9.1
3.2
-2.2
-20.6
20
21
22
23
24
25
(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).
47
Z.1, March 8, 2012
F.212 Corporate and Foreign Bonds

2007
2008
2009
2010
2011
2010
Q3
Q1
Q2
Q3
Q4
1228.9
-231.7
-48.7
-103.5
24.5
263.7
89.5
38.7
83.5
-8.8
-15.5
2
3

Rest of the world (1)
311.2
218.7
204.6
-158.8
377.2
163.2
420.6
72.8
376.0
-8.4
510.6
89.8
507.7
58.9
393.5
44.2
451.9
14.0
306.7
19.1
351.9
-111.0
2
3
Financial sectors
699.0
-277.5
-589.2
-596.9
-343.1
-336.6
-477.2
-399.0
-382.4
-334.6
-256.4
25.1
94.4
-0.3
8.0
123.0
-8.0
-28.3
7.8
-0.2
10.3
-46.5
-3.6
-20.7
-94.0
-0.3
26.6
201.8
-0.9
49.5
-182.3
-0.2
-11.0
8.7
-2.1
-3.4
-200.1
0.2
-12.9
-86.7
-0.2
-55.6
-98.0
1.1
5
6
7
534.3
-2.8
0.7
-4.0
51.5
-324.3
-49.6
-60.3
32.3
1.4
-474.0
-87.0
-41.3
-4.2
37.9
-480.0
-110.7
-0.1
36.9
-3.2
-245.9
-41.2
25.3
-37.9
71.6
-580.6
-46.1
28.9
-19.2
52.8
-322.8
-17.5
-37.5
134.4
-100.8
-383.8
-90.8
46.4
-5.9
39.6
-213.8
-58.8
59.9
-72.7
106.4
-324.4
53.4
2.6
-43.4
77.1
-61.4
-68.7
-7.5
-29.7
63.4
8
9
10
11
12
1228.9
-231.7
-48.7
-103.5
24.5
263.7
89.5
38.7
83.5
-8.8
-15.5
13
5
6
7
8
9
10
11
12
13
Net issues
2011
Q4

ABS issuers (net) (3)
Finance companies
REITs
Brokers and dealers
Net purchases
14
15
16
17
Household sector
Federal government
208.3
11.7
0.0
424.6
-213.9
-3.1
0.0
-21.8
-140.2
7.3
0.6
-126.9
-341.5
9.5
0.3
-36.5
-105.2
-4.2
-0.1
-66.2
-505.5
8.5
0.4
36.5
187.1
11.9
0.5
23.0
-105.2
-4.2
-0.0
-31.4
-18.4
-4.2
0.0
-78.0
-294.1
-8.1
-0.3
-40.1
-3.0
-0.2
-0.1
-115.1
14
15
16
17
18
19
20
21
22
23

Credit unions
101.7
77.0
19.2
0.1
49.5
3.9
-30.4
32.1
-0.0
0.0
-33.7
-8.9
49.9
-156.7
-8.4
1.5
-24.0
-7.0
-88.2
-11.0
7.3
-1.4
-10.5
-15.0
9.2
0.6
-20.1
3.6
-6.1
0.4
-0.8
440.5
99.2
-0.0
-18.9
-27.4
-97.4
-514.6
-15.5
0.2
-8.8
-31.4
-55.4
-53.3
8.5
21.1
-12.2
0.2
-19.7
35.6
0.6
-2.6
-7.8
0.2
80.2
105.0
-74.3
-2.8
-2.1
-0.5
31.6
-84.9
-15.0
-1.4
-2.3
1.9
18
19
20
21
22
23
24
25
26
27
28

5.9
43.1
39.8
13.6
0.1
-15.4
-45.5
42.7
15.9
-0.1
30.8
97.6
42.8
-4.3
0.1
24.3
102.9
40.6
3.8
0.2
-1.1
100.2
37.4
7.7
0.5
24.6
102.2
28.7
1.5
1.4
25.0
106.7
56.9
1.9
-1.1
4.8
127.8
51.3
7.0
-0.6
-5.4
73.5
31.3
-6.8
0.7
6.4
115.1
34.3
35.2
0.8
-10.4
84.4
33.0
-4.7
0.9
24
25
26
27
28
29
30
31
32

Mutual funds
Closed-end funds
8.5
123.0
-1.0
6.2
-148.8
69.9
-25.3
13.9
-58.1
146.2
5.2
27.6
-15.7
148.7
4.1
18.7
-24.6
187.9
-1.9
26.4
-33.3
172.3
6.8
33.7
-26.1
125.9
11.4
0.4
-2.3
184.7
10.3
15.2
-1.9
225.6
-2.3
26.9
-100.3
167.4
-10.6
27.5
5.9
173.9
-5.2
35.8
29
30
31
32
33
34
35
36
37
Finance companies
REITs
Brokers and dealers
-17.4
4.5
-30.2
27.3
109.6
-77.7
3.0
-22.8
-259.0
497.3
-33.8
6.3
3.8
47.5
43.6
-16.9
-19.6
5.3
35.2
51.9
-35.9
4.8
6.2
-77.7
-17.4
-18.9
-28.6
7.7
33.9
-100.9
-57.7
-10.3
3.0
76.8
221.6
-36.6
20.4
15.1
47.7
-174.4
-59.0
3.3
6.5
-50.8
-63.9
-22.9
22.3
3.6
-187.4
136.9
-25.0
-26.6
-0.4
-120.2
31.8
33
34
35
36
37
(1) Net purchases of foreign issues by U.S. residents.

(2) Net purchases of U.S. issues by foreign residents.
(3) Net issuance less net acquisition of corporate bonds held as assets.
48
Z.1, March 8, 2012
F.213 Corporate Equities (1)

2007
2008
2009
2010
2011
2010
Q3
Net issues
Q2
Q3
Q4
263.1
313.4
-8.0
-246.6
-60.3
-75.6
-46.2
-206.2
-233.9
-500.2
-786.8
-336.0
-64.6
-278.0
-489.9
-336.5
-360.9
-325.6
-512.5
-606.6
-514.8
147.8
-38.5
63.6
79.1
90.1
67.6
114.8
188.5
107.8
91.2
-27.0
Financial sectors
Closed-end funds
REITs
Brokers and dealers
Funding corporations (3)
178.6
4.3
-28.0
3.3
-13.2
-30.6
17.6
150.5
17.1
25.5
32.3
0.0
637.6
10.4
321.4
1.7
0.4
-10.7
-63.4
177.2
12.8
27.6
120.2
40.0
314.3
10.1
68.6
1.5
-5.3
-0.9
5.6
116.5
24.2
96.0
-32.4
30.5
190.8
11.4
19.8
0.5
-12.7
-4.8
0.1
117.8
28.2
38.1
-11.1
3.5
153.1
7.0
2.8
-0.6
-7.7
-13.7
-2.3
110.3
37.5
23.7
14.6
-18.4
208.6
16.2
45.8
0.6
-10.0
7.8
13.1
133.2
24.4
10.6
-34.4
1.3
170.5
3.2
4.4
0.4
-13.4
-6.1
-15.9
186.7
44.4
6.9
-41.4
1.3
90.9
6.4
14.9
0.6
-11.1
-8.7
1.5
86.4
64.1
8.0
-11.0
-60.4
198.5
8.6
-22.4
0.4
2.9
-11.5
5.7
116.7
39.8
27.5
30.8
0.0
281.4
15.5
19.8
0.6
-18.4
-16.0
20.2
77.1
30.7
27.1
134.0
-9.2
41.6
-2.6
-1.2
-3.8
-4.4
-18.5
-36.9
161.0
15.3
32.0
-95.5
-3.9
4
5
6
7
8
9
10
11
12
13
14
15
-460.5
263.1
313.4
-8.0
-246.6
-60.3
-75.6
-46.2
-206.2
-233.9
-500.2
16
-845.9
0.7
0.0
218.5
-108.4
19.0
256.3
105.1
88.0
15.9
0.6
157.2
-72.1
-28.9
24.1
67.3
-142.5
-3.9
40.0
-31.7
-1.9
-40.8
19.7
38.4
-342.3
-39.4
7.3
44.6
76.4
-27.9
33.3
2.1
-276.7
-1.1
58.0
3.4
-29.3
61.9
10.2
-86.7
-340.6
-48.7
58.5
-45.7
17
18
19
20
0.0
1.6
0.0
-0.1
0.0
2.4
0.0
-1.5
25.1
6.8
0.0
-0.5
1.3
-0.5
0.1
-1.3
-26.4
2.5
-0.0
-1.5
1.3
-5.4
0.0
0.7
1.3
4.5
0.2
4.8
-105.5
-3.9
-0.0
-5.5
0.0
16.1
-0.2
0.7
0.0
-1.2
0.0
4.7
0.0
-1.0
0.0
-5.6
21
22
23
24
0.5
84.1
-188.3
-6.4
2.7
35.1
81.8
-184.6
1.2
-8.6
-2.4
33.4
-175.6
-17.3
8.8
-20.9
45.6
-111.0
-25.8
5.2
4.6
30.8
-83.5
-68.8
-3.4
-22.2
26.6
-111.4
-27.4
-4.2
-16.3
26.6
-86.8
-10.2
16.2
1.8
22.5
-83.5
-82.8
0.0
-10.3
28.6
-81.1
-18.6
2.4
27.0
45.5
-81.6
-128.7
-17.4
-0.0
26.6
-87.8
-45.1
1.2
25
26
27
28
29
91.3
18.4
137.2
25.4
0.0
-38.1
-22.3
154.2
-28.5
0.0
86.3
-4.1
70.5
-4.6
25.1
42.8
-4.8
88.2
-18.5
1.3
0.6
-1.2
71.5
-7.2
-26.4
3.4
4.2
98.0
-40.7
1.3
116.5
-22.6
189.9
28.9
1.3
142.7
-7.0
64.7
32.1
-105.5
-7.0
3.1
73.1
3.4
0.0
-71.7
39.6
31.4
-37.6
0.0
-61.5
-40.6
116.9
-26.8
0.0
30
31
32
33
34
-228.0
441.6
16
Q1
-460.5
4
5
6
7
8
9
10
11
12
13
14
15
2011
Q4
Net purchases
17
18
19
20
Household sector
Federal government
21
22
23
24
Monetary authority
25
26
27
28
29

30
31
32
33
34
Mutual funds
Closed-end funds
Brokers and dealers
(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) Preferred shares issued by AIG to the federal goverment under the TARP program and the monetary authority sectors preferred interest in AIA Aurora LLC and ALICO Holdings LLC.
(4) Net purchases of U.S. issues by foreign residents.
F.214 Mutual Fund Shares (1)

1
Net issues
364.7
31.0
490.5
389.3
411.3
570.3
405.5
1005.0
426.6
Net purchases
364.7
31.0
490.5
389.3
411.3
570.3
405.5
1005.0
426.6
-228.0
441.6
209.1
0.2
-0.1
38.2
1.4
-6.1
13.1
-2.0
299.8
40.4
-7.7
56.5
196.9
16.8
-8.5
112.2
298.8
16.8
-1.2
71.1
429.4
16.8
-11.3
119.9
216.1
16.8
-10.8
105.1
766.7
16.8
-7.9
150.4
187.5
16.8
-0.4
130.7
-196.6
16.8
17.3
-21.3
437.6
16.8
-13.7
24.6
3
4
5
6
3
4
5
6
Household sector
Rest of the world
7
8

Credit unions
3.6
-0.0
1.3
-0.0
14.8
-0.7
-5.8
0.2
-0.8
0.3
-9.5
-0.0
-0.2
-0.1
-1.6
0.6
-6.4
0.6
-0.5
-0.2
5.3
0.1
7
8

-0.5
31.3
88.1
-5.2
-0.4
-10.7
35.5
-1.1
0.1
0.0
89.8
-2.5
-0.1
1.0
80.4
-3.8
-0.1
1.1
35.3
-10.1
-0.1
1.0
28.0
-4.0
-0.1
1.0
79.2
-1.5
-0.2
1.0
91.4
-12.1
-0.0
1.0
99.5
-2.7
-0.0
1.2
-25.8
-18.8
-0.1
1.2
-23.8
-6.6
9
10
11
12
9
10
11
12
(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
49
Z.1, March 8, 2012
F.215 Bank Loans Not Elsewhere Classified (1)

2007
2008
2009
2010
2011
2010
Q3
1
2

Nonfinancial sectors
3
4
5
Household sector
Corporate business
6
7
8
9
Rest of the world

Foreign official institutions
Foreign banks
Other foreign
10
11
12
13
14
15
16
17
18
19
20
21
Financial sectors
Finance companies
REITs
Brokers and dealers
Monetary authority (2)
2011
Q4
Q1
Q2
Q3
Q4
335.1
693.7
-774.6
-105.4
132.3
-159.5
29.8
112.1
109.9
139.7
167.7
264.2
197.7
-307.2
-15.1
179.8
-56.1
91.9
158.8
225.7
179.4
155.3
13.4
86.0
140.8
18.0
55.0
119.6
30.1
-209.8
-116.3
76.5
-25.6
-83.9
26.3
51.0
73.4
32.5
-47.5
-69.3
32.2
-27.5
57.3
-25.8
97.2
39.6
81.3
73.3
57.5
12.9
27.7
97.1
36.8
5.8
99.4
3
4
5
24.1
-0.0
8.3
15.8
5.1
0.7
2.8
1.6
-11.2
0.6
-5.1
-6.6
17.9
1.1
11.8
4.9
29.2
-1.7
11.3
19.5
28.2
1.0
4.1
23.1
29.9
3.0
22.3
4.6
47.9
-0.1
24.2
23.8
13.7
-4.2
13.7
4.1
41.7
-0.5
15.6
26.6
13.3
-2.0
-8.2
23.5
6
7
8
9
70.9
496.1
-467.5
-90.2
-47.4
-103.4
-62.1
-46.7
-115.8
-39.7
12.4
10
13.3
52.8
4.8
0.0
0.0
13.0
-7.1
-0.3
45.5
444.9
-29.8
-30.4
-12.1
-45.5
-349.6
-1.2
-64.9
-2.2
0.0
-21.9
1.2
4.7
-1.5
0.0
-51.9
8.6
-80.9
3.7
0.0
-34.7
-4.4
-48.2
2.4
0.0
-11.8
5.7
50.4
-9.0
0.0
-93.8
1.0
-84.8
-2.4
0.0
-29.6
-2.0
-10.9
19.1
0.0
-45.9
-0.0
64.2
-13.6
0.0
-38.2
11
12
13
14
15
335.1
693.7
-774.6
-105.4
132.3
-159.5
29.8
112.1
109.9
139.7
167.7
16
0.0
233.7
105.0
0.7
-4.2
490.4
137.9
65.1
2.0
-1.7
-347.6
-298.1
-125.4
-3.2
-0.3
-44.8
-45.4
-16.1
4.3
-3.3
-67.6
159.0
36.1
3.7
1.1
-85.8
-60.2
-14.2
0.2
0.5
-31.8
72.4
-12.9
1.3
0.8
-115.7
130.8
65.1
32.0
-0.1
-55.4
92.5
83.8
-10.6
-0.3
-51.7
167.1
19.2
2.4
2.7
-47.4
245.6
-23.5
-9.0
1.9
17
18
19
20
21
(1) Excludes bank lending in the form of open market paper, mortgages, consumer credit, and security credit which are shown on other instrument tables.
(2) Loans from Federal Reserve banks to households, rest of the world, broker and dealers, and funding corporations. See loan details on table F.109.
50
Z.1, March 8, 2012
F.216 Other Loans and Advances

2007
Total other loans and advances
2008
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
533.6
106.7
-436.5
-229.8
-30.8
-294.2
-108.7
-48.1
-82.7
-78.0
85.7
2
3
4
5
6
7
8
9
10

Liab.: Household sector
Rest of the world
Finance companies
-2.2
-0.4
-0.2
1.1
0.7
-3.3
0.0
0.0
0.0
6.1
0.3
4.4
2.1
0.8
-1.5
0.0
0.0
0.0
66.1
-0.2
59.6
3.6
0.8
0.3
0.0
0.0
2.0
3.6
-1.0
-4.3
0.6
0.9
0.2
0.0
0.0
7.2
3.1
-0.5
-0.5
2.9
0.9
-0.3
0.0
0.0
0.7
3.7
-0.0
3.3
-2.1
0.5
0.1
0.0
0.0
1.9
-2.1
-2.5
-4.7
-0.8
2.0
0.5
0.0
0.0
3.4
8.7
-0.3
5.3
2.2
0.4
0.5
0.0
0.0
0.6
-11.7
-0.7
-16.2
4.6
0.8
-1.5
0.0
0.0
1.4
7.3
-0.0
3.1
1.7
1.1
0.8
0.0
0.0
0.6
8.4
-0.9
5.9
3.1
1.2
-1.0
0.0
0.0
0.1
2
3
4
5
6
7
8
9
10
11
12
Foreign loans to U.S. corporate business

Liab.: Nonfinancial corporate business
102.7
102.7
-64.1
-64.1
-24.9
-24.9
-22.0
-22.0
42.2
42.2
-126.7
-126.7
-16.8
-16.8
46.9
46.9
35.6
35.6
63.3
63.3
23.0
23.0
11
12
13
14
15
16
Customers liability on acceptances outstanding

Rest of the world
0.0
0.0
-0.1
0.1
0.0
-0.2
-0.2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
13
14
15
16
17
18
19
Savings institution loans to business

6.2
3.1
3.1
6.4
3.2
3.2
-14.5
-7.2
-7.2
6.4
3.2
3.2
-2.3
-1.2
-1.2
27.2
13.6
13.6
3.5
1.7
1.7
0.6
0.3
0.3
-25.5
-12.8
-12.8
12.9
6.4
6.4
2.8
1.4
1.4
17
18
19
20
21
22
Credit unions loans to business

0.0
0.0
0.0
2.7
1.4
1.4
2.7
1.4
1.4
0.8
0.4
0.4
-0.2
-0.1
-0.1
2.7
1.3
1.3
-0.5
-0.3
-0.3
-6.2
-3.1
-3.1
5.6
2.8
2.8
5.6
2.8
2.8
-6.0
-3.0
-3.0
20
21
22
23
24
25
Policy loans (Household liability)

Asset: Federal government
3.6
-0.0
3.6
5.9
-0.0
5.9
0.7
-0.0
0.7
3.4
-0.0
3.4
2.4
-0.0
2.4
4.6
-0.0
4.6
3.8
-0.0
3.8
1.2
-0.1
1.3
2.8
-0.0
2.9
3.7
-0.0
3.7
1.6
-0.0
1.7
23
24
25
26
27
28
29
30
31
32
33
Govt.-sponsored enterprises loans (1)

Liab.: Household sector (SLMA)
Nonfinancial corporate business (FCS)
Nonfinancial noncorporate business (FCS)
U.S.-chartered coml. banks (FHLB & SLMA)
Savings institutions (FHLB & SLMA)
Credit unions (FHLB)
Life insurance companies (FHLB)
237.7
0.0
1.9
10.1
106.7
91.1
13.4
14.5
38.1
0.0
-3.8
8.5
71.0
-72.2
8.3
26.2
-284.8
0.0
-0.4
0.2
-124.2
-139.6
-14.1
-6.6
-144.7
0.0
1.6
5.6
-124.1
-24.2
-0.4
-3.2
-71.5
0.0
-0.9
-2.7
-42.9
-24.9
-2.0
1.8
-222.4
0.0
4.3
19.2
-175.9
-69.6
0.8
-1.2
-25.6
0.0
3.0
12.1
-96.0
52.5
3.6
-0.8
-36.8
0.0
3.6
0.6
10.3
-43.4
-9.6
1.8
-107.6
0.0
-2.8
-6.0
-63.2
-34.5
-3.5
2.4
-156.2
0.0
-4.1
-10.3
-85.0
-61.4
3.7
0.9
14.7
0.0
-0.1
5.1
-33.7
39.8
1.6
2.0
26
27
28
29
30
31
32
33
34
35
Securitized loans held by ABS issuers

-4.0
-4.0
-15.6
-15.6
-23.7
-23.7
-5.0
-5.0
-4.3
-4.3
13.5
13.5
-13.6
-13.6
-15.3
-15.3
-1.2
-1.2
-0.4
-0.4
-0.5
-0.5
34
35
36
37
38
Finance company loans to business

24.9
22.4
2.5
16.9
15.2
1.7
-91.0
-81.9
-9.1
-19.0
-17.1
-1.9
-7.2
-6.5
-0.7
35.6
32.1
3.6
-5.6
-5.1
-0.6
-18.3
-16.4
-1.8
-53.5
-48.1
-5.3
0.3
0.3
0.0
42.5
38.2
4.2
36
37
38
39
40
41
42
43
44
45
Loans to nonfinancial corporate business (2)

Asset: Household sector
Mutual funds
ABS issuers
Brokers and dealers
164.6
8.5
9.6
36.1
92.6
11.1
6.7
110.5
12.2
14.3
12.4
53.4
3.1
15.1
-67.1
-5.3
-13.3
1.3
-27.4
-12.7
-9.8
-53.3
-0.6
-3.7
-0.8
-34.0
-12.7
-1.5
7.1
-1.5
-0.1
21.4
-8.3
-1.2
-3.2
-32.3
2.0
-1.8
6.2
-32.7
-5.9
-0.0
-51.7
-0.8
-4.0
-5.2
-39.2
-5.1
2.7
-29.0
-1.6
-3.9
56.2
-66.6
-2.0
-11.1
72.8
-3.3
4.4
33.5
40.0
-1.0
-0.9
-14.4
-1.0
-0.7
-3.9
-6.3
-1.9
-0.7
-0.8
-0.1
-0.0
-0.2
-0.3
-0.1
-0.0
39
40
41
42
43
44
45
(1) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4.
(2) Syndicated loans from domestic entities, excluding banks and finance companies which are included elsewhere.
51
Z.1, March 8, 2012
F.217 Total Mortgages

2007
2008
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
Net change in mortgages
1058.2
90.8
-281.6
-514.3
-323.1
-477.0
-373.8
-394.9
-384.1
-303.7
-209.9
2
3
4
5
Home
Commercial
Farm
714.0
82.1
257.4
4.6
-111.3
48.6
131.5
22.0
-199.2
9.3
-88.4
-3.4
-343.3
-9.4
-166.5
4.9
-238.6
3.1
-83.6
-4.0
-293.6
3.1
-191.5
5.0
-207.2
-7.4
-164.1
5.0
-305.7
-1.4
-83.8
-4.0
-272.1
-0.3
-107.7
-4.0
-207.0
5.6
-98.2
-4.1
-169.7
8.5
-44.6
-4.1
2
3
4
5
1058.2
90.8
-281.6
-514.3
-323.1
-477.0
-373.8
-394.9
-384.1
-303.7
-209.9
Household sector
690.5
-57.2
-152.2
-311.8
-220.5
-273.1
-195.5
-281.2
-250.5
-192.0
-158.1
8
9
10
Corporate
Noncorporate
363.0
55.9
307.1
141.2
-45.7
186.9
-132.8
-120.2
-12.6
-202.7
-72.8
-129.9
-109.9
-66.3
-43.6
-207.0
-79.7
-127.3
-173.3
-85.7
-87.6
-120.8
-71.6
-49.2
-152.0
-106.2
-45.8
-116.0
-76.7
-39.2
-50.9
-10.7
-40.2
8
9
10
11
12
Federal government
REITs
0.0
4.7
0.0
6.8
0.0
3.4
0.0
0.2
0.0
7.2
0.0
3.1
0.0
-5.0
0.0
7.1
0.0
18.4
0.0
4.2
0.0
-0.9
11
12
13
1058.2
90.8
-281.6
-514.3
-323.1
-477.0
-373.8
-394.9
-384.1
-303.7
-209.9
13
-12.4
-18.4
7.4
1.4
-7.7
-3.0
-9.7
-4.1
-1.2
-11.3
-4.1
-1.5
-11.3
-4.1
0.3
-12.3
-4.1
-1.4
-13.0
-4.1
-0.2
-10.4
-4.1
-0.0
-13.3
-4.1
0.1
-7.6
-4.1
0.4
-13.9
-4.1
0.6
14
15
16
13.3
2.1
-4.0
13.5
8.6
12.6
4.2
-1.8
-3.7
4.0
-1.1
-7.2
-2.8
0.0
0.2
4.9
-5.0
6.2
-9.6
-0.1
-0.2
5.2
17
18
225.7
14.1
1.6
17.2
31.8
190.0
5.2
1.8
-233.4
33.2
-16.1
-6.4
-0.3
-227.3
3.2
-186.5
-2.5
-6.5
-18.5
2.8
-117.9
-2.6
-2.4
-28.7
6.9
-15.9
-3.6
-1.6
-51.9
9.0
-211.5
0.2
-1.1
117.9
-10.1
-315.6
-6.1
-3.9
-181.1
17.0
-168.0
-3.2
-3.7
-5.4
-11.4
94.3
2.6
-2.2
-56.1
1.6
-82.3
-3.6
0.2
128.0
20.3
19
20
21
22
23
1.3
22.4
0.7
-4.7
0.2
16.3
0.9
-0.3
-0.5
-16.3
2.6
-0.1
-0.3
-8.6
1.3
0.1
0.6
15.8
-1.7
-0.1
-0.1
-4.4
-2.1
0.4
-0.4
-3.6
-1.0
0.0
-0.2
9.5
-3.2
-0.8
1.0
20.1
-3.3
0.0
1.0
17.7
-3.4
0.4
0.5
15.7
2.8
0.1
24
25
26
27
Net borrowing
14
15
16
Household sector
17
18

Federal government
19
20
21
22
23

Savings institutions (1)
Credit unions
24
25
26
27

28
29
30

ABS issuers
35.9
623.3
172.7
62.2
497.0
-351.6
2.4
415.3
-365.7
-110.8
186.9
-294.1
-92.8
162.6
-221.9
-179.4
159.7
-300.0
-62.8
189.6
-299.3
100.2
263.7
-206.7
-122.7
146.5
-253.1
-196.1
124.0
-213.7
-152.6
116.3
-213.9
28
29
30
31
32
Finance companies
REITs
-62.5
-13.2
-84.0
-46.9
-50.5
-28.0
-56.9
-6.3
-41.0
14.7
-56.9
-4.1
-63.5
-8.1
-61.2
3.1
-29.5
64.5
-49.6
-3.1
-23.5
-5.5
31
32
(1) FHLB loans to savings institutions are included in other loans and advances.
52
Z.1, March 8, 2012
F.218 Home Mortgages (1)

2007
2008
2009
2010
2011
2010
Q3
1
2
3
4
5
Net borrowing
Household sector
Q1
Q2
Q3
Q4
714.0
-111.3
-199.2
-343.3
-238.6
-293.6
-207.2
-305.7
-272.1
-207.0
-169.7
677.2
2.9
33.9
-54.2
-10.2
-46.9
-145.3
-12.4
-41.5
-299.2
-6.8
-37.3
-213.2
-3.4
-22.1
-258.8
-4.6
-30.2
-183.9
-4.9
-18.4
-274.0
-4.7
-27.0
-243.5
-4.1
-24.5
-184.8
-2.7
-19.6
-150.3
-2.0
-17.4
2
3
4
714.0
-111.3
-199.2
-343.3
-238.6
-293.6
-207.2
-305.7
-272.1
-207.0
-169.7
6
7
8
9
10
Household sector
Federal government
-12.1
-10.9
2.7
7.1
0.3
0.4
-4.8
-1.1
-1.9
2.7
-8.0
-2.5
-0.4
4.4
5.7
-8.0
-2.5
-0.6
1.6
1.8
-8.0
-2.5
0.1
-2.0
0.9
-8.0
-2.5
-0.5
-1.6
-1.2
-8.0
-2.5
-0.1
-2.8
1.2
-8.0
-2.5
-0.0
-0.2
1.8
-8.0
-2.5
0.1
-2.6
2.4
-8.0
-2.5
0.2
-4.9
-1.5
-8.0
-2.5
0.2
-0.1
1.0
6
7
8
9
10
11
12
13
14
15

Credit unions
124.1
0.0
4.3
11.1
31.8
28.3
-1.5
1.4
-212.6
33.2
20.7
-6.0
-0.3
-217.7
3.2
-81.3
0.1
-2.5
-18.2
2.8
-51.2
0.3
-2.4
-23.4
6.9
99.0
-0.0
-1.4
-52.6
9.0
-78.5
-0.2
-1.3
103.8
-10.1
-224.3
-0.1
-5.4
-167.3
17.0
-104.6
0.1
-2.2
6.0
-11.4
175.2
0.8
-1.1
-58.0
1.6
-51.2
0.2
-0.7
125.4
20.3
11
12
13
14
15
16
17
18

-0.9
-0.1
-1.7
-0.8
0.1
-0.1
-2.2
0.7
-0.0
-0.2
-0.1
0.0
1.3
-0.3
-0.0
0.8
-0.9
0.1
1.6
-0.1
0.0
0.6
-0.9
-0.3
1.5
-0.2
0.0
1.9
-0.4
0.1
1.4
0.3
0.0
16
17
18
19
20
21
22
23
ABS issuers
Finance companies
REITs
-9.7
622.6
34.2
-65.4
-23.5
8.8
492.2
-311.9
-97.3
-46.4
-11.3
402.5
-318.5
-47.8
-21.7
-117.3
175.8
-240.4
-50.8
-3.7
-93.1
148.1
-194.0
-33.4
14.1
-192.7
145.6
-236.3
-49.8
-0.6
-88.8
176.9
-244.7
-54.1
0.6
102.9
248.3
-217.1
-50.7
0.4
-115.5
123.2
-194.8
-17.9
54.4
-201.6
114.1
-185.2
-43.5
5.6
-158.3
106.7
-179.0
-21.5
-3.9
19
20
21
22
23
65.1
38.6
0.0
42.9
7.2
-10.6
-13.1
-18.0
83.0
-0.4
-61.0
4.6
-24.7
-19.5
-82.3
-13.8
-0.6
-39.5
-4.1
-14.8
-9.6
-90.6
-60.3
0.0
-6.0
-6.4
-8.6
-9.4
-77.2
-53.9
-0.0
-6.4
-5.5
-4.6
-6.7
-81.0
-57.7
0.1
-4.4
-6.0
-6.5
-6.4
-102.7
-69.1
-0.0
-6.1
-8.3
-7.5
-11.7
-97.0
-69.0
-0.0
-6.6
-6.6
-6.2
-8.5
-84.5
-59.4
-0.1
-7.0
-6.5
-4.7
-6.9
-65.0
-44.3
0.0
-6.9
-4.5
-3.9
-5.4
-62.2
-42.7
-0.1
-5.1
-4.6
-3.8
-6.0
24
25
26
27
28
29
30
24
25
26
27
28
29
30
2011
Q4
Memo:
Home equity loans included above (2)
Credit unions
ABS issuers
Finance companies
(1) Mortgages on 1-4 family properties including mortages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.
F.219 Multifamily Residential Mortgages

1
82.1
48.6
9.3
-9.4
3.1
3.1
-7.4
-1.4
-0.3
5.6
8.5
2
3
Net borrowing
4.2
80.2
2.3
43.9
0.4
7.2
-0.5
-9.7
0.2
3.2
0.0
0.7
-0.4
-7.0
0.0
0.9
-0.0
-0.5
0.2
4.4
0.4
8.2
2
3
4
5
Federal government
REITs
0.0
-2.3
0.0
2.3
0.0
1.8
0.0
0.8
0.0
-0.3
0.0
2.4
0.0
-0.0
0.0
-2.3
0.0
0.3
0.0
0.9
0.0
-0.1
4
5
82.1
48.6
9.3
-9.4
3.1
3.1
-7.4
-1.4
-0.3
5.6
8.5
7
8
9
10
11
Household sector
Federal government
0.0
-0.3
2.6
5.6
-0.3
0.0
-0.1
-1.0
-1.5
0.1
0.0
-0.1
-0.4
3.5
0.1
0.0
-0.1
-0.5
1.7
-0.3
0.0
-0.1
0.1
-1.3
-0.3
0.0
-0.1
-0.5
-0.3
-0.8
0.0
-0.1
-0.1
-1.1
0.1
0.0
-0.1
-0.0
0.8
-0.2
0.0
-0.1
0.0
-2.0
-0.8
0.0
-0.1
0.1
-3.9
-0.1
0.0
-0.1
0.2
-0.1
-0.0
7
8
9
10
11
12
13
14

10.9
0.0
-3.1
42.4
-0.2
-27.5
-3.7
-0.4
-5.3
-13.6
-0.5
1.4
-7.4
-0.6
0.8
-10.8
-0.8
3.1
-27.3
-1.1
7.2
-13.5
0.0
-0.0
-3.8
-1.3
-1.0
-9.6
-1.1
2.9
-2.9
0.2
1.5
12
13
14
15
16
17

5.8
0.1
-1.4
-0.1
0.3
-0.1
-3.2
0.3
-0.0
-1.3
0.4
0.0
2.3
-0.3
-0.0
0.2
-0.4
0.1
-0.7
-0.2
0.0
0.6
-0.2
-0.3
2.8
-0.7
0.0
3.6
-0.8
0.1
2.4
0.5
0.0
15
16
17
18
19
20
21
22
ABS issuers
Finance companies
REITs
42.3
-0.7
20.6
-0.1
0.2
42.5
4.6
-10.8
0.8
-0.9
14.2
13.0
-5.8
-0.7
-2.0
2.0
11.3
-8.7
-1.0
-0.4
1.8
16.6
-7.7
-0.8
-0.2
8.5
14.2
-8.5
-0.4
-0.5
20.5
12.8
-15.8
-1.3
-0.5
-1.6
17.5
-2.8
-1.1
-0.5
-5.8
23.4
-10.4
-0.7
-0.0
7.1
15.9
-7.6
-0.8
-0.3
7.6
9.6
-9.8
-0.5
-0.2
18
19
20
21
22
53
Z.1, March 8, 2012
F.220 Commercial Mortgages

2007
1
2
3
4
5
6
7
8
9
Net borrowing
Household sector
REITs
Household sector
2008
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
257.4
131.5
-88.4
-166.5
-83.6
-191.5
-164.1
-83.8
-107.7
-98.2
-44.6
13.3
47.0
190.2
7.0
-3.0
-43.8
173.9
4.5
-6.9
-108.9
25.8
1.6
-12.6
-67.9
-85.4
-0.6
-7.3
-63.7
-20.1
7.5
-14.2
-77.7
-100.3
0.7
-11.6
-83.1
-64.4
-5.0
-7.2
-67.5
-18.5
9.4
-7.0
-102.6
-16.2
18.1
-7.2
-74.9
-19.4
3.3
-7.8
-9.7
-26.3
-0.8
2
3
4
5
257.4
131.5
-88.4
-166.5
-83.6
-191.5
-164.1
-83.8
-107.7
-98.2
-44.6
2.1
-7.3
2.0
0.9
-2.8
-0.8
-0.7
-1.6
-0.3
-2.5
-1.6
-0.4
-4.3
-1.6
0.1
-2.7
-1.6
-0.4
-3.2
-1.6
-0.1
-3.6
-1.6
-0.0
-4.1
-1.6
0.0
-4.5
-1.6
0.1
-5.0
-1.6
0.2
7
8
9
1.1
2.1
-0.3
10.4
0.7
6.4
0.9
-3.7
-0.4
3.2
0.8
-6.2
1.1
-1.6
-0.4
3.5
-0.4
4.1
-0.8
1.1
-0.0
3.9
10
11
10
11

Federal government
12
13
14
15

89.0
14.1
-2.7
9.1
110.7
6.8
0.4
6.7
-32.5
0.1
-0.0
-4.2
-93.4
-2.1
-4.0
-1.7
-57.7
-2.3
-0.1
-6.2
-105.9
-2.7
-0.2
-2.4
-107.5
1.4
0.2
6.9
-76.3
-6.1
1.5
-13.8
-58.0
-2.0
-1.5
-10.5
-69.8
2.9
-1.1
-1.3
-26.7
-4.0
0.8
0.8
12
13
14
15
16
17
18
19

1.3
16.8
0.7
-1.6
0.2
14.9
0.5
-0.1
-0.5
-9.4
1.5
-0.0
-0.3
-6.4
1.0
0.0
0.6
12.4
-1.1
-0.0
-0.1
-4.6
-0.7
0.1
-0.4
-3.7
-0.7
0.0
-0.2
8.7
-2.0
-0.3
1.0
16.2
-2.4
0.0
1.0
12.6
-2.2
0.1
0.5
12.3
2.1
0.0
16
17
18
19
20
21

ABS issuers
0.0
117.8
0.0
-28.9
0.0
-41.4
0.0
-45.1
0.0
-20.2
0.0
-55.3
0.0
-38.8
0.0
13.1
0.0
-47.8
0.0
-20.9
0.0
-25.1
20
21
22
23
Finance companies
REITs
2.9
10.1
12.6
0.4
-2.0
-4.3
-5.1
-2.3
-6.8
0.8
-6.7
-3.0
-8.1
-8.2
-9.4
3.1
-10.9
10.1
-5.4
-8.4
-1.5
-1.4
22
23
F.221 Farm Mortgages (1)

1
2
3
4
Net borrowing
4.6
22.0
-3.4
4.9
-4.0
5.0
5.0
-4.0
-4.0
-4.1
-4.1
1.8
2.8
6.0
16.0
0.7
-4.1
2.4
2.5
0.6
-4.6
2.6
2.4
2.7
2.3
0.6
-4.6
0.6
-4.6
0.6
-4.6
0.6
-4.7
2
3
4.6
22.0
-3.4
4.9
-4.0
5.0
5.0
-4.0
-4.0
-4.1
-4.1
5
6
Household sector
-2.4
0.1
0.1
-0.1
-0.9
-0.0
-0.8
-0.0
1.0
0.0
-1.6
-0.0
-1.8
-0.0
1.2
0.0
-1.2
0.0
4.9
0.0
-0.9
0.0
5
6
7
8

Federal government
-0.5
0.1
-0.3
0.2
0.0
0.4
0.0
0.4
0.0
0.3
0.0
0.9
0.0
0.3
0.0
-0.2
0.0
0.5
0.0
0.3
0.0
0.4
7
8
9
10
11

1.7
0.0
0.1
8.7
0.0
0.0
-0.5
-0.0
-0.0
1.8
0.0
0.0
-1.5
-0.0
0.1
1.8
-0.0
0.0
1.8
-0.0
0.1
-1.5
0.0
0.0
-1.5
0.0
-0.0
-1.5
0.0
0.2
-1.6
-0.0
0.2
9
10
11
12
13

0.7
0.0
2.2
0.0
-1.5
0.0
-0.7
0.0
-0.4
0.0
-0.7
0.0
-0.7
0.0
-0.4
0.0
-0.4
0.0
-0.4
0.0
-0.4
0.0
12
13
14
15
3.3
1.4
10.9
0.1
-0.5
-0.2
4.6
-0.2
-1.5
-2.1
4.8
-0.1
5.5
-0.2
-1.0
-2.1
-1.4
-0.1
-1.6
-6.0
-1.8
0.0
14
15
(1) Excludes mortgages on farm houses.
54
Z.1, March 8, 2012
F.222 Consumer Credit

2007
2008
2009
2010
2011
2010
Q3
2011
Q4
Q1
Q2
Q3
Q4
Net change in liabilities (Households)
139.3
38.8
-115.3
-44.2
86.3
-53.5
56.5
52.6
87.5
34.6
170.4
139.3
38.8
-115.3
-44.2
86.3
-53.5
56.5
52.6
87.5
34.6
170.4
1.0
0.0
6.7
1.2
0.0
12.6
-2.6
0.0
75.0
7.5
0.0
130.4
-1.8
0.0
108.7
2.3
0.0
228.1
6.1
0.0
141.4
-12.6
0.0
151.5
2.4
0.0
71.1
11.0
0.0
141.4
-8.0
0.0
70.7
3
4
5
3
4
5

Federal government
6
7
8

Credit unions
62.9
-4.8
1.2
74.5
-4.5
0.5
-50.6
-8.8
1.0
-73.7
5.3
-10.7
1.9
5.2
-0.6
-119.0
6.1
-21.9
-135.8
18.7
8.0
-54.7
-8.3
-13.2
63.0
10.8
8.6
-40.7
7.4
-6.8
39.8
10.9
8.8
6
7
8
9
10
11
ABS issuers
Finance companies
0.0
22.6
49.7
0.0
-37.3
-8.3
0.0
-41.3
-88.0
0.0
-56.8
-46.2
0.0
-14.8
-12.2
0.0
-39.9
-109.3
0.0
-10.9
29.1
0.0
-15.8
5.8
0.0
-39.6
-28.9
0.0
-20.5
-57.2
0.0
16.7
31.4
9
10
11
F.223 Trade Credit

1
Net change in trade payables
202.0
-170.0
-23.8
198.8
275.9
323.3
101.3
324.5
226.1
272.2
280.8
Household sector
14.6
22.2
16.0
21.4
14.0
21.6
21.6
20.0
14.0
13.6
8.5
3
4

85.1
26.0
-225.2
5.8
-85.3
7.6
161.1
-20.0
224.5
5.9
232.4
-28.3
123.2
-11.6
236.2
-8.2
224.0
13.9
221.3
14.8
216.5
3.2
3
4
5
6

Federal government
37.0
29.3
39.2
22.6
37.7
-56.2
38.4
22.1
39.4
28.4
38.6
13.4
38.7
53.3
39.1
48.9
39.5
-10.1
39.5
18.8
39.4
56.2
5
6
7
8
Rest of the world

Brokers and dealers
12.4
-2.4
-9.9
-24.7
7.4
48.9
27.8
-52.0
-32.5
-3.9
33.3
12.3
24.1
-148.0
-13.1
1.6
-58.7
3.4
-23.9
-11.9
-34.5
-8.5
7
8
255.0
-182.8
-101.2
131.3
194.6
187.8
151.3
178.6
207.5
204.3
188.1
163.1
54.7
-172.0
-3.0
-30.6
-26.3
130.6
-20.3
179.2
3.6
192.6
-18.6
130.1
-3.0
175.1
-0.5
186.0
1.9
172.6
5.6
183.2
7.3
10
11
Net change in trade receivables
10
11

12
13
14

Federal government
Rest of the world
13.3
1.2
20.8
-3.6
4.2
6.5
8.2
-21.1
6.6
10.8
-0.7
19.4
-4.8
1.9
16.1
9.7
1.5
0.8
13.5
14.9
18.4
-4.8
-6.3
5.7
-4.8
9.2
9.8
-9.2
-2.2
50.1
-0.2
6.9
-1.0
12
13
14
15
16

ABS issuers
-1.6
3.4
1.3
-16.1
-3.7
-34.3
0.8
-9.5
2.9
-4.3
1.3
0.4
-13.1
-9.5
2.5
7.1
15.2
-9.8
2.0
-14.5
-8.0
0.1
15
16
-53.0
12.8
77.4
67.5
81.2
135.5
-50.0
145.9
18.6
67.9
92.6
17
17
Discrepancy
F.224 Security Credit

1
2
3
Household sector
Rest of the world
4
5
6
7
Brokers and dealers

276.5
-397.9
-95.9
123.6
97.6
105.2
203.7
128.2
273.2
222.0
-233.0
33.4
0.0
-160.7
0.0
38.1
0.0
75.2
0.0
-39.7
0.0
66.7
0.0
178.0
0.0
150.2
0.0
-11.5
0.0
-243.7
0.0
-53.6
0.0
2
3
243.0
210.8
29.3
3.0
-237.3
-123.8
12.8
-126.3
-134.0
-74.1
-59.2
-0.8
48.4
25.7
-5.8
28.5
137.3
58.1
37.6
41.6
38.5
43.2
-81.6
76.9
25.7
-10.1
32.8
3.0
-22.0
36.2
-0.7
-57.5
284.7
217.7
44.3
22.8
465.7
188.7
94.9
182.1
-179.3
-210.3
11.8
19.2
4
5
6
7
276.5
-397.9
-95.9
123.6
97.6
105.2
203.7
128.2
273.2
222.0
-233.0
9
10
Household sector
Rest of the world
210.8
0.0
-123.8
0.0
-74.1
0.0
25.7
0.0
58.1
0.0
43.2
0.0
-10.1
0.0
36.2
0.0
217.7
0.0
188.7
0.0
-210.3
0.0
9
10
11
12
13

Brokers and dealers
29.3
3.0
33.4
12.8
-126.3
-160.7
-59.2
-0.8
38.1
-5.8
28.5
75.2
37.6
41.6
-39.7
-81.6
76.9
66.7
32.8
3.0
178.0
-0.7
-57.5
150.2
44.3
22.8
-11.5
94.9
182.1
-243.7
11.8
19.2
-53.6
11
12
13
55
Z.1, March 8, 2012
F.225 Life Insurance and Pension Fund Reserves

2007
2008
2009
2010
2011
2010
Q3
2011
Q4
Q1
Q2
Q3
Q4
Life insurance reserves:

1
2
3
4
5
6
7

Federal government
Households
34.2
67.0
26.5
17.2
59.8
49.0
5.3
36.4
57.8
110.7
34.5
1.2
33.0
1.0
66.0
1.1
25.4
0.9
16.4
1.3
58.5
0.7
48.3
2.5
2.9
0.3
36.1
1.7
56.0
1.2
109.5
1.9
32.6
2
3
34.2
67.0
26.5
17.2
59.8
49.0
5.3
36.4
57.8
110.7
34.5
18.0
10.9
5.3
61.7
6.4
-1.2
23.7
0.8
2.1
9.0
4.5
3.8
52.6
4.8
2.4
41.5
6.1
1.4
-2.8
6.5
1.7
30.9
5.4
0.2
54.0
4.3
-0.5
101.1
3.7
5.9
24.5
5.8
4.2
5
6
7
201.1
125.7
135.4
208.9
139.8
219.9
258.2
140.1
-114.3
439.2
94.1
118.6
32.3
2.3
47.8
65.5
-36.4
17.7
78.9
25.1
60.1
-28.0
78.2
104.2
61.2
-38.5
81.9
50.5
60.2
-57.5
86.6
139.9
49.5
-47.5
78.0
95.7
61.1
-8.5
109.8
29.1
78.7
-48.1
80.4
107.5
108.5
-42.5
-287.8
49.9
23.7
-75.9
441.5
15.3
29.8
-63.2
112.3
9
10
11
12
201.1
125.7
135.4
208.9
139.8
219.9
258.2
140.1
-114.3
439.2
94.1
13
Pension fund reserves:

8
9
10
11
12
13

Private pension funds (1)
Federal government retirement funds (2)
Net change in assets (Households) (3)
(1) Includes unallocated insurance company contracts beginning 1985:Q4.

(2) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.
(3) Excludes all individual retirement accounts (IRAs) (table F.225.i), except those at life insurance companies.
F.226 Taxes Payable by Businesses

1
Net change in taxes payable by all

businesses
-69.3
-123.8
-3.4
11.2
20.3
28.4
33.0
62.7
-32.2
-6.2
56.7
2
3

-49.6
3.8
3.1
6.7
-3.3
-6.3
3.4
-5.2
9.1
0.9
0.6
-4.7
9.5
-0.8
29.6
-0.1
-26.2
0.5
9.4
1.4
23.6
1.9
2
3
4
5

-13.6
-2.0
-85.7
-0.3
7.1
0.3
6.9
-0.3
10.2
0.3
-0.9
-0.5
16.8
0.2
16.9
1.9
20.8
-2.4
13.3
0.3
-10.3
1.5
4
5
6
7

-2.4
-3.4
-28.1
-19.7
5.3
-7.0
5.6
2.6
-3.9
5.2
13.6
11.7
22.2
-4.5
8.8
3.8
-20.7
-4.8
-25.1
-4.9
21.3
26.6
6
7
8
9
Finance companies
Brokers and dealers
-1.5
-0.6
-0.1
0.3
-2.8
3.2
0.3
-2.1
0.0
-1.5
0.6
8.0
0.5
-10.9
-0.5
2.3
0.1
0.4
2.0
-2.6
-1.6
-6.3
8
9
-32.7
-59.8
38.2
69.3
74.9
73.9
94.4
87.4
41.4
129.3
41.5
10
2.7
-35.5
2.2
-61.9
-4.8
43.0
6.7
62.5
11.2
63.7
7.4
66.5
10.3
84.2
8.7
78.7
13.1
28.3
10.1
119.2
13.0
28.5
11
12
-36.5
-64.0
-41.6
-58.0
-54.6
-45.4
-61.5
-24.7
-73.6
-135.5
15.2
13
10
11
12
13
Net change in business taxes receivable

Federal government
Discrepancy
F.227 Proprietors Equity in Noncorporate Business

1
2
3
Total household investment

Brokers and dealers
15.3
-288.5
-13.2
49.7
-38.2
16.5
-21.3
-20.7
-26.1
-49.1
-57.0
12.8
2.4
-300.0
11.5
-9.6
-3.6
49.3
0.4
-36.1
-2.2
25.0
-8.5
-25.0
3.7
-12.1
-8.6
-26.1
-0.0
-56.5
7.4
-49.6
-7.4
2
3
56
Z.1, March 8, 2012
F.228 Total Miscellaneous Financial Claims

2007
2008
2009
2010
2011
2010
Q3
2011
Q4
Q1
Q2
Q3
Q4
2447.3
2050.5
-461.3
1066.7
1111.3
1390.4
84.5
1295.7
1131.7
1148.2
869.6
1.0
1208.6
94.2
3.2
556.2
114.1
-4.9
30.7
33.1
2.7
373.5
31.6
-0.4
383.9
42.6
-11.8
492.5
31.4
8.7
517.3
32.8
1.7
341.7
34.8
1.9
426.1
40.6
-5.0
333.8
45.6
-0.4
434.1
49.5
2
3
4
Federal government
Rest of the world
76.6
488.6
89.5
428.9
81.4
-292.9
90.6
559.8
102.9
364.9
73.5
258.0
177.1
749.9
57.2
471.8
-306.5
588.6
463.0
-146.9
197.9
545.9
5
6
7
8
9
10
11
12
13
Monetary authority
Credit unions
2.5
8.6
144.8
-3.4
-11.6
22.2
-5.6
2.2
-6.7
549.5
-180.7
-4.5
-30.1
1.1
6.1
255.5
-418.2
-48.0
3.3
-50.5
14.7
29.2
121.5
7.5
-97.9
-5.0
-1.6
-8.4
-26.7
38.4
259.0
-32.2
-5.2
2.3
0.9
-103.1
297.7
346.0
93.7
-18.2
-44.1
-2.1
159.6
-250.5
-870.3
-484.9
-6.3
13.1
2.7
-4.1
358.8
249.5
87.7
-4.9
-16.0
3.8
-64.6
41.3
326.8
15.3
-6.4
41.6
-7.2
-95.5
-222.1
743.0
-10.1
12.0
-29.8
-4.5
57.4
-24.4
-283.2
-221.8
-21.4
13.5
11.3
7
8
9
10
11
12
13
14
15

25.8
67.6
40.2
46.8
1.9
-4.6
8.7
55.1
6.1
31.5
18.7
3.7
-13.3
-44.0
4.5
39.1
46.6
-22.1
28.6
122.0
-55.4
-12.9
14
15
16
17
Finance companies
17.7
-6.9
37.1
10.4
62.2
-91.2
-68.1
-11.8
-16.6
-13.9
-138.2
-77.6
69.4
37.9
-56.5
-74.3
-11.3
40.8
-27.7
-52.4
29.1
30.3
16
17
18
19
20
REITs
Brokers and dealers
4.6
46.2
265.9
-2.7
-70.7
466.7
-13.8
19.8
-45.9
14.9
39.5
-74.6
12.5
-1.0
-37.7
-5.2
155.9
19.5
-6.4
-185.2
177.1
16.7
220.3
-436.0
11.2
70.0
-100.9
10.7
-90.1
73.5
11.5
-204.1
312.8
18
19
20
2421.5
91.3
-112.6
727.6
988.9
1061.6
75.5
1252.1
903.2
558.6
1241.8
21
2
3
4
Household sector
5
6
21
22
23
24
Household sector
66.1
933.4
330.8
55.1
-357.5
107.5
21.1
104.0
-81.7
44.4
493.9
-81.6
33.7
417.1
14.9
54.7
349.7
-75.0
75.0
241.2
-12.5
7.1
439.2
0.8
7.5
477.1
10.5
73.0
308.5
25.4
47.4
443.5
22.7
22
23
24
25
26
27

Federal government
Rest of the world
-34.3
1.9
606.5
-23.2
-28.0
-324.9
-12.2
35.4
255.7
-3.0
-3.5
510.3
-57.8
3.7
271.0
25.8
26.0
318.6
55.5
18.6
611.8
-79.9
-1.3
13.7
-75.2
7.2
868.2
-76.0
2.1
-357.9
0.0
7.0
560.0
25
26
27
28
29
30
31
32
33
34
Monetary authority
Credit unions
25.8
28.2
14.7
93.9
6.1
6.2
11.0
530.2
128.4
364.3
183.2
-1.0
-25.4
8.4
-493.8
27.3
-115.9
55.1
-4.5
-6.2
6.4
7.8
-72.0
4.9
-64.0
4.5
-8.0
-8.7
142.7
-76.4
223.1
51.1
0.8
0.3
-28.9
2.9
-270.1
-75.9
208.5
-4.7
-22.3
43.8
64.0
-77.2
-291.2
-495.2
-4.3
82.2
-17.1
41.1
453.7
298.8
175.7
-0.6
-89.1
-16.7
51.5
-165.0
155.1
35.7
4.3
0.7
-93.7
-4.1
-443.3
554.4
-6.2
19.0
18.3
28.4
482.1
-151.2
-116.0
-0.9
-19.4
71.5
-33.6
28
29
30
31
32
33
34
35
36
37
38
39

17.6
39.5
17.5
-0.6
33.3
6.8
37.2
11.3
-0.0
63.3
16.7
-22.5
21.6
0.5
61.9
0.4
2.8
-32.9
0.7
65.7
3.3
-34.2
-6.8
1.2
70.8
12.7
4.9
-0.4
1.6
63.3
-13.7
-122.7
-80.6
0.2
92.1
-9.9
-79.2
-25.5
1.4
66.6
7.8
60.2
-16.1
-0.1
-305.9
-0.3
-16.3
-0.1
2.8
426.5
15.4
-101.3
14.7
0.7
95.9
35
36
37
38
39
40
41
42

Mutual funds
31.8
2.8
27.0
-43.1
3.2
-42.6
11.3
-5.1
1.2
7.7
-12.0
29.3
5.8
11.5
-1.6
22.7
-27.8
105.4
249.2
28.0
8.8
-64.2
10.5
-159.2
-195.4
31.6
1.5
23.5
3.9
179.2
259.3
-0.0
-27.8
40
41
42
43
44
45
46
Finance companies
REITs
Brokers and dealers
1.7
-4.4
47.3
117.6
11.8
-0.8
-615.1
42.1
31.9
-8.5
54.9
-67.2
-15.9
7.4
-104.2
-46.5
12.3
10.8
-102.4
22.9
-5.1
16.9
114.1
171.3
17.5
-21.2
-219.6
-113.2
23.4
24.7
110.2
110.8
-21.4
14.5
20.0
22.7
48.0
7.1
-186.8
-70.5
-0.9
-3.1
-352.9
28.6
43
44
45
46
25.8
1959.2
-348.7
339.2
122.4
328.8
9.0
43.7
228.5
589.6
-372.2
47
47
Discrepancy
57
Z.1, March 8, 2012
F.229 Identified Miscellaneous Financial Claims - Part I

2007
2008
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
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
Asset: Nonfinancial corporate business
Finance companies
Brokers and dealers
414.0
200.9
230.5
-17.3
307.0
32.8
17.6
5.8
26.4
24.4
329.1
127.0
233.1
-31.1
262.6
17.6
6.8
4.6
24.2
13.3
303.6
24.5
237.7
41.4
279.8
-10.8
16.7
2.1
8.6
7.2
351.4
47.7
320.5
-16.9
322.1
-1.1
0.4
3.0
12.5
14.5
390.3
48.6
352.6
-10.9
365.2
-5.9
3.3
6.3
14.8
6.6
314.9
14.2
318.3
-17.6
267.5
4.1
12.7
1.3
19.5
9.8
372.0
-2.7
347.4
27.3
365.0
-18.8
-13.7
3.7
21.7
14.2
356.8
12.1
341.8
2.9
348.0
7.6
-9.9
0.3
2.9
7.9
554.2
123.1
391.9
39.2
504.8
4.5
7.8
6.0
24.2
6.7
283.1
13.4
327.6
-57.9
280.4
-23.3
-0.3
7.9
10.7
7.6
367.3
45.9
349.1
-27.7
327.8
-12.2
15.4
10.7
21.4
4.3
1
2
3
4
5
6
7
8
9
10
211.6
0.3
-0.8
7.1
-1.0
-5.6
9.0
0.6
221.2
142.3
48.2
30.7
189.5
-0.2
24.8
14.9
12.5
12.2
55.8
0.6
310.1
255.7
39.1
15.2
112.0
0.5
15.3
7.0
7.7
12.1
3.5
0.6
158.6
134.3
13.5
10.8
186.2
-0.0
7.5
2.3
6.8
2.4
30.5
0.6
236.2
114.7
93.7
27.8
198.4
0.1
20.3
-2.8
-9.8
5.3
13.0
0.6
225.1
91.8
103.0
30.3
250.4
-0.1
10.2
0.9
6.6
6.5
43.5
0.6
318.6
214.0
87.3
17.3
203.3
0.1
-3.0
2.2
9.6
0.4
69.0
0.6
282.2
96.7
122.7
62.8
100.2
0.0
15.6
6.5
-20.0
4.3
6.8
0.6
114.0
33.4
104.9
-24.4
176.8
0.0
13.8
-6.3
-3.8
11.5
15.8
0.6
208.4
109.2
100.5
-1.3
270.3
0.1
25.5
-1.3
-8.5
-1.6
16.0
0.6
301.1
116.2
98.4
86.5
246.5
0.1
26.4
-9.9
-6.8
6.9
13.2
0.6
276.9
108.4
108.4
60.2
11
12
13
14
15
16
17
18
19
20
21
22
1.7
1.7
1.4
1.4
1.7
1.7
2.3
2.3
3.8
3.8
1.3
1.3
0.8
0.8
2.3
2.3
5.8
5.8
1.7
1.7
5.5
5.5
23
24
3.1
3.1
2.6
2.6
4.6
4.6
0.9
0.9
0.4
0.4
0.3
0.3
-0.6
-0.6
-0.9
-0.9
0.8
0.8
-1.9
-1.9
3.6
3.6
25
26
9.1
0.1
0.7
0.0
3.8
3.3
0.6
0.6
-4.2
-0.1
1.2
0.0
-1.0
-5.4
0.3
1.0
0.0
0.0
-0.0
0.0
-0.9
1.6
-0.4
-0.3
-2.7
0.1
0.4
0.0
-1.8
-1.2
-0.2
-0.0
-5.9
-0.0
0.3
0.0
-5.2
-0.9
-0.1
0.0
0.4
0.3
1.2
0.0
1.5
-3.0
0.2
0.2
-6.4
0.3
-0.1
0.0
-4.5
-0.9
-1.0
-0.3
-1.6
0.3
-0.2
0.0
0.6
-2.7
0.1
0.1
-17.7
-0.3
0.5
0.0
-20.0
3.5
-0.7
-0.7
-2.9
-0.3
0.7
0.0
-1.4
-2.0
0.1
0.0
-1.6
0.1
0.1
0.0
0.1
-2.7
0.3
0.6
27
28
29
30
31
32
33
34
130.7
0.2
5.3
41.5
-110.0
67.8
46.6
2.5
-12.5
-7.3
59.4
88.7
106.9
10.6
9.3
-23.3
-87.9
15.5
-46.7
-1.0
22.2
-36.2
-0.7
-62.3
59.5
-1.3
9.3
-18.4
-41.2
7.9
83.3
2.3
15.5
-2.7
89.0
187.4
-342.5
-5.1
47.5
-20.7
-194.4
-515.2
-31.9
1.0
7.2
-97.1
116.1
-4.8
163.2
-2.1
11.6
24.4
-213.1
-16.1
117.0
-1.3
28.8
-1.7
-131.0
11.8
-10.2
-2.8
-10.1
0.7
63.0
40.6
35
36
37
38
39
40
-54.8
-54.8
-1.1
-1.1
-9.3
-9.3
20.3
20.3
21.5
21.5
-1.4
-1.4
-10.9
-10.9
69.0
69.0
17.9
17.9
-1.3
-1.3
0.5
0.5
41
42
43.7
73.9
117.6
35.6
6.4
42.1
-73.5
6.3
-67.2
-31.5
-15.0
-46.5
-33.7
56.6
22.9
106.7
64.7
171.3
-22.0
-91.2
-113.2
69.5
41.3
110.8
-62.1
84.8
22.7
-133.1
62.7
-70.5
-9.2
37.8
28.6
43
44
45
0.0
0.0
0.0
0.0
0.0
0.0
2.4
1.2
1.2
7.9
4.0
4.0
1.4
0.7
0.7
5.0
2.5
2.5
3.1
1.5
1.5
0.6
0.3
0.3
2.5
1.3
1.3
2.2
1.1
1.1
0.2
0.1
0.1
46
47
48
Foreign direct investment in U.S. (1):

11
12
13
14
15
16
17
18
19
20
21
22

Finance companies
Brokers and dealers
Asset: Rest of the world
Equity
Reinvested earnings
Intercompany accounts
Federal government equity in IBRD, etc.:
23
24

Federal Reserve Bank stock:
25
26

Equity in govt.-sponsored enterprises:
27
28
29
30
31
32
33
34
Liab.: Government-sponsored enterprises

Asset: Nonfin. corporate business (Fannie Mae and FCS)
Nonfinancial noncorporate (FCS)
Federal government
U.S.-chartered commercial banks (FHLB)
Savings institutions (FHLB)
BHC investment in subsidiaries:
35
36
37
38
39
40
Liab.: U.S.-chartered commercial banks

Finance companies
Brokers and dealers
Asset: Bank holding companies
NFC investment in finance company subs.:
41
42
Liab.: Finance companies

Funding corp. investment in subs.:
43
44
45
Liab.: Foreign banking offices in U.S.

Brokers and dealers
Asset: Funding corporations
Equity investment under Public-Private Inv. Program:
46
47
48
Liab.: Funding corporations

Asset: Households (2)
Federal government
(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.
(2) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
58
Z.1, March 8, 2012
F.230 Identified Miscellaneous Financial Claims - Part II

2007
2008
2009
2010
2011
2010
Q3
2011
Q4
Q1
Q2
Q3
Q4
Nonofficial foreign currencies:

1
2
3

23.9
-0.1
24.0
529.8
0.0
529.7
-543.3
0.2
-543.5
-10.1
0.1
-10.2
100.2
0.5
99.7
-4.5
0.2
-4.7
-0.3
-0.4
0.1
-0.6
-0.3
-0.3
1.1
1.1
0.0
2.6
0.6
2.0
397.9
0.6
397.3
1
2
3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
4
5
1.9
1.9
-5.4
-5.4
0.4
0.4
-1.5
-1.5
-2.5
-2.5
7.5
7.5
-21.1
-21.1
2.4
2.4
-3.6
-3.6
8.6
8.6
-17.3
-17.3
6
7
1.0
1.0
3.2
3.2
-4.9
-4.9
2.7
2.7
-0.4
-0.4
-11.8
-11.8
8.7
8.7
1.7
1.7
1.9
1.9
-5.0
-5.0
-0.4
-0.4
8
9
Postal Savings System deposits:

4
5
Liab.: Federal government

Deposits at Federal Home Loan Banks:
6
7

Asset: Savings institutions
Deferred and unpaid life insurance premiums:
8
9

Asset: Life insurance companies
Life insurance company reserves:
10
11
12
13
Liab.: Life insurance companies

Accident and health
Policy dividend accumulation
Contract claims
15.5
13.5
0.2
1.8
17.6
19.5
-3.4
1.5
8.4
9.7
-1.1
-0.1
14.8
14.7
0.4
-0.4
14.8
15.3
-1.4
0.9
26.7
25.0
1.2
0.4
6.9
15.9
2.2
-11.2
11.2
7.1
0.9
3.3
10.4
17.5
-5.2
-2.0
26.5
24.5
-0.6
2.6
11.0
12.1
-0.9
-0.2
10
11
12
13
14
15.5
17.6
8.4
14.8
14.8
26.7
6.9
11.2
10.4
26.5
11.0
14
18.7
25.4
-5.0
6.3
8.8
17.8
-15.5
-2.0
52.9
29.9
-45.5
15
6.7
8.3
3.7
11.0
10.9
3.4
-5.1
-0.9
1.0
3.2
3.0
0.1
-0.3
5.3
3.8
9.9
7.4
0.5
-7.4
-5.6
-2.5
-4.1
0.6
1.6
21.2
22.9
8.8
9.5
13.9
6.6
-27.7
-16.2
-1.6
16
17
18
26.3
26.3
38.2
38.2
10.1
10.1
-4.4
-4.4
-0.8
-0.8
5.2
5.2
-9.2
-9.2
-7.3
-7.3
1.0
1.0
1.2
1.2
1.8
1.8
19
20
4.4
4.4
0.7
0.7
2.5
2.5
-1.3
-1.3
0.2
0.2
-0.8
-0.8
-0.9
-0.9
-0.6
-0.6
-0.1
-0.1
0.5
0.5
1.0
1.0
21
22
-2.1
-2.1
-353.2
-353.2
-30.2
-30.2
-123.5
-123.5
-75.0
-75.0
31.7
31.7
-160.5
-160.5
-95.2
-95.2
72.8
72.8
-3.1
-3.1
-274.5
-274.5
23
24
33.3
33.3
63.3
63.3
61.9
61.9
65.7
65.7
70.8
70.8
63.3
63.3
92.1
92.1
66.6
66.6
-305.9
-305.9
426.5
426.5
95.9
95.9
25
26
43.9
43.9
26.5
26.5
16.6
16.6
22.5
22.5
18.5
18.5
15.7
15.7
74.0
74.0
-0.3
-0.3
-25.4
-25.4
35.9
35.9
63.9
63.9
27
28
Policy payables:
15
Liab.: Property-casualty insurance companies
16
17
18

Unallocated insurance company contracts:
19
20

Asset: Private pension funds
Pension fund contributions payable:
21
22

Securities borrowed (net):
23
24

Asset: Brokers and dealers
Nonmarketable government securities:
25
26

Asset: Federal government retirement funds
Retiree health care funds (2):
27
28

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
59
Z.1, March 8, 2012
F.231 Unidentified Miscellaneous Financial Claims

2007
2008
2009
2010
2011
2010
Q3
2
3

4
5
6
Federal government
Rest of the world
Monetary authority
7
8
9
10

11
12
13
14
Credit unions
15
16
17
18
Finance companies
REITs
Brokers and dealers
19
2011
Q4
Q1
Q2
Q3
Q4
1500.8
935.9
-387.7
588.2
309.3
241.9
98.6
673.7
548.1
101.3
-85.9
992.6
93.9
366.0
114.3
-83.8
32.6
188.6
31.6
185.3
42.6
242.9
31.5
314.8
32.7
242.2
34.8
249.4
40.6
63.0
45.4
186.6
49.4
2
3
-0.6
49.0
-0.7
-0.3
-431.3
-0.5
2.9
-54.8
1.5
2.4
216.2
28.3
13.6
-129.5
-27.1
-5.4
-53.7
-103.4
11.0
377.4
160.3
-9.1
113.3
-3.2
24.7
27.5
-65.4
0.6
-434.2
-93.6
38.1
-224.8
53.8
4
5
6
-122.2
101.9
-3.4
-11.6
-53.3
489.1
-180.7
-4.5
148.6
-360.0
-48.0
3.3
168.2
31.5
-97.9
-5.0
-21.1
272.4
-32.2
-5.2
214.4
229.2
93.7
-18.2
92.0
-845.4
-484.9
-6.3
390.7
164.4
87.7
-4.9
-121.9
375.1
15.3
-6.4
-339.1
850.7
-10.1
12.0
-14.3
-300.5
-221.8
-21.4
7
8
9
10
22.0
-5.6
21.4
6.7
-32.6
1.1
-9.0
46.7
-61.1
14.7
-40.1
61.8
-0.6
-8.4
15.7
-63.9
3.6
0.9
18.0
-8.2
-46.5
-2.1
-50.2
-146.1
18.2
2.7
-98.9
96.9
-17.0
3.8
48.1
-57.3
43.7
-7.2
-41.2
10.1
-28.5
-4.5
74.0
-33.4
16.4
11.3
-8.8
47.9
11
12
13
14
12.0
4.6
73.4
267.3
6.5
-2.7
-192.2
819.4
-70.7
-13.8
97.9
-18.7
1.6
14.9
24.7
40.4
-22.2
12.5
-29.3
35.3
-80.0
-5.2
-41.3
-17.8
69.2
-6.4
31.3
333.8
-50.5
16.7
56.0
-342.0
-13.0
11.2
182.6
-176.9
-47.8
10.7
-37.7
73.9
22.3
11.5
-318.1
586.5
15
16
17
18
1475.0
-1023.3
-39.0
249.0
186.9
-86.9
89.6
630.0
319.6
-488.2
286.2
19
20
21
22

672.7
326.4
-34.3
-629.9
102.9
-23.2
-165.7
-82.7
-12.2
148.4
-82.1
-3.0
25.1
10.8
-57.8
75.9
-76.7
25.8
-107.5
-9.9
55.5
21.4
-0.6
-79.9
-68.2
1.2
-75.2
15.7
18.2
-76.0
131.3
24.3
0.0
20
21
22
23
24
25
Federal government
Rest of the world
Monetary authority
0.4
385.4
1.8
-29.4
-635.0
0.5
32.3
97.1
49.6
-9.8
274.0
18.0
-1.3
45.9
42.9
22.0
-0.0
7.6
16.7
329.5
64.0
-3.6
-100.3
41.4
-1.0
659.8
51.5
-1.2
-659.0
-6.1
0.8
283.1
84.8
23
24
25
26
27
28
29

-11.5
14.7
26.2
6.1
109.2
364.3
94.5
-1.0
34.4
-115.9
39.6
-4.5
-69.9
4.9
-1.6
4.5
-65.8
223.1
43.2
0.8
-275.9
-75.9
21.2
-4.7
-53.3
-291.2
20.0
-4.3
446.3
298.8
180.4
-0.6
-150.3
155.1
51.8
4.3
-416.6
554.4
-17.9
19.0
-142.6
-116.0
-41.5
-19.4
26
27
28
29
30
31
Credit unions
1.0
10.4
-14.6
8.1
-8.2
6.8
-5.3
-8.5
3.7
-28.8
-26.8
43.6
104.2
-16.1
-88.9
-16.7
0.8
-93.0
11.6
28.3
91.5
-33.9
30
31
32
33
34

32.1
-13.2
-0.6
28.5
-27.6
-0.0
-19.3
9.0
0.5
-2.9
-27.2
0.7
-40.0
-6.1
1.2
15.1
-4.8
1.6
-134.8
-70.5
0.2
-81.4
-17.6
1.4
53.0
-17.1
-0.1
-19.3
-1.8
2.8
-112.3
11.9
0.7
32
33
34
35
36
37

Mutual funds
31.8
2.8
27.0
-43.1
3.2
-42.6
11.3
-5.1
1.2
7.7
-12.0
29.3
5.8
11.5
-1.6
22.7
-27.8
105.4
249.2
28.0
8.8
-64.2
10.5
-159.2
-195.4
31.6
1.5
23.5
3.9
179.2
259.3
-0.0
-27.8
35
36
37
38
39
40
Finance companies
REITs
Brokers and dealers
-24.7
-4.4
24.9
-12.4
-0.8
-275.1
23.3
-8.5
78.0
-28.4
7.4
4.7
-2.5
10.8
-34.0
-24.7
16.9
72.6
-4.1
-21.2
-73.4
20.5
24.7
197.5
-45.6
14.5
-59.6
37.3
7.1
-191.3
-22.3
-3.1
-82.7
38
39
40
25.8
1959.2
-348.7
339.2
122.4
328.8
9.0
43.7
228.5
589.6
-372.2
41
41
Discrepancy
60
Z.1, March 8, 2012
F.11 Sector Discrepancies

2007
2008
2009
2010
2011
2010
Q3
All sectors
2011
Q4
Q1
Q2
Q3
Q4
-83.5
983.1
21.6
253.3
78.1
33.1
80.3
-38.0
-333.8
637.5
46.9
-230.4
126.0
-104.4
934.9
91.5
-176.1
-203.1
92.4
-57.8
40.9
17.2
97.9
-278.9
188.0
-165.6
102.5
252.6
82.4
-333.0
9.6
15.0
-30.8
2
3

Federal government
Rest of the world
-20.7
23.4
98.3
-20.0
85.5
-63.0
-31.1
-41.3
132.2
-29.4
-48.6
225.7
-13.7
7.5
-24.5
-36.9
-311.7
-167.9
-42.6
-123.8
347.9
-17.6
110.6
-130.1
-19.7
-947.4
358.4
8.0
713.9
-293.0
-25.7
153.1
-33.5
4
5
6
Financial sectors
-80.0
150.0
46.4
216.4
125.7
434.6
-10.2
62.1
-60.2
532.1
-31.2
-2.8
-136.2
2.6
-4.9
-7.1
24.3
2.3
-0.2
-33.1
-5.1
-12.9
-1.1
54.4
3.7
-6.0
238.2
1.3
-9.8
5.3
3.4
5.6
-10.1
140.1
1.1
-7.0
0.8
-8.7
1.8
-0.9
41.3
4.4
-10.3
-0.3
0.7
-2.2
-17.5
366.7
7.3
-8.1
0.5
-9.4
1.7
-4.1
-204.8
-0.3
-8.5
2.4
-1.2
4.4
0.1
84.6
13.7
-9.1
0.5
9.6
-0.6
-1.4
-111.5
-1.5
-9.5
0.0
-1.5
-8.4
2.3
256.1
5.6
-11.2
-3.3
-6.1
0.4
-4.4
-64.0
-0.2
-11.5
1.6
0.8
-0.4
8
9
10
11
12
13
14
3.1
-50.7
-0.6
-59.4
-15.1
-82.4
38.8
-8.2
25.9
-11.8
11.0
1.4
115.2
23.2
-0.6
16.9
61.3
-57.9
31.3
-32.9
11.6
26.6
15
16
2
3
Household sector
4
5
6
7
8
9
10
11
12
13
14
Monetary authority
Foreign banking officed in U.S.
Credit unions
15
16

17
18
Mutual funds
13.4
27.7
-5.7
107.8
-83.3
52.2
-103.6
57.7
-94.8
64.6
-106.5
110.1
-109.4
-8.5
-103.6
60.2
-103.6
35.2
-88.6
89.3
-83.6
74.0
17
18
19
20
21
22
Issuers of asset-backed securities

Finance companies
REITs
Brokers and dealers
0.0
20.8
31.9
-4.3
0.0
36.3
-5.8
71.9
0.0
14.9
-15.8
-62.1
0.0
61.3
29.3
22.9
0.0
30.2
42.5
36.4
0.0
45.3
10.6
21.6
0.0
115.4
46.7
19.4
0.0
-15.0
35.7
-30.2
0.0
41.7
52.4
44.5
0.0
61.2
47.3
180.7
0.0
32.9
34.8
-49.6
19
20
21
22
F.12 Instrument Discrepancies

1
All types
2
3
Treasury currency
Foreign deposits
4
5

Security RPs
6
7
8
9
Mail floats
Federal government
Private domestic
-83.5
983.1
21.6
253.3
78.1
33.1
80.3
-38.0
-333.8
637.5
46.9
-1.2
196.5
-0.8
-347.1
-4.4
-74.4
-1.1
18.2
-0.7
10.7
-1.9
-56.8
-0.5
36.2
-1.0
136.2
-0.7
-99.8
-0.5
50.6
-0.5
-44.0
2
3
1.8
-231.4
30.6
-604.9
34.4
466.5
-20.2
-85.4
27.6
-128.4
61.0
-393.0
136.6
39.1
54.0
-378.3
-241.2
-234.0
174.4
-141.5
123.0
240.3
4
5
1.0
0.0
1.2
-0.1
-5.2
0.0
-3.3
-2.0
-0.3
0.0
0.7
-1.0
-1.1
0.0
0.0
-1.1
1.0
0.0
0.1
0.9
2.4
0.0
1.1
1.4
0.7
0.0
3.7
-3.0
-61.4
0.0
-62.7
1.3
62.7
0.0
62.6
0.2
-1.6
0.0
-4.5
2.9
4.1
0.0
4.9
-0.9
6
7
8
9
10
11
Trade credit
Taxes payable
-53.0
-36.5
12.8
-64.0
77.4
-41.6
67.5
-58.0
81.2
-54.6
135.5
-45.4
-50.0
-61.5
145.9
-24.7
18.6
-73.6
67.9
-135.5
92.6
15.2
10
11
12
Miscellaneous
25.8
1959.2
-348.7
339.2
122.4
328.8
9.0
43.7
228.5
589.6
-372.2
12
13
Nonfinancial
13.5
2.6
-87.3
-5.7
18.9
2.5
-29.3
47.6
5.5
34.3
-11.7
13
-12.0
-6.3
4.7
-2.4
-5.0
4.8
77.4
5.0
4.9
0.8
0.0
4.9
-23.4
0.0
4.5
-7.4
0.0
4.9
24.5
0.0
4.9
-52.0
0.0
4.4
-10.0
0.0
4.4
-38.7
0.0
4.5
7.2
0.0
4.6
14
15
16
14
15
16
Nonfinancial components (sign reversed):

Statistical discrepancy (NIPA)
Private wage accruals less disbursements
Contr. for govt. soc. insur., U.S. affiliated areas
61
Z.1, March 8, 2012
L.1 Credit Market Debt Outstanding (1)

Billions of dollars; amounts outstanding end of period, not seasonally adjusted
2007
1
2
3
4
5
6
7
Total credit market debt owed by:

Household sector
Federal government
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
50875.7
53296.6
53065.8
52683.5
52666.8
52940.9
53353.1
53558.7
53499.4
53827.4
54134.3
32531.0
34468.0
35435.9
35805.8
36045.2
36459.9
36938.1
37168.2
37341.7
37834.4
38314.6
13782.4
6933.6
3824.9
2867.8
5122.3
13801.1
7269.4
4148.2
2887.8
6361.5
13570.2
7052.9
4008.1
2999.3
7805.4
13451.5
7135.1
3913.7
3022.3
8283.2
13386.4
7170.1
3847.1
3014.0
8627.7
13349.7
7268.1
3806.9
3017.4
9017.8
13328.6
7355.1
3803.3
3065.5
9385.6
13215.7
7462.7
3798.2
3045.7
9645.9
13208.4
7583.4
3798.3
3013.0
9738.6
13205.9
7685.6
3813.0
3002.2
10127.6
13222.9
7800.0
3831.3
3006.8
10453.6
3
4
5
6
7
Rest of the world
2126.3
1708.8
2090.3
2113.0
2106.8
2136.0
2273.1
2325.9
2321.4
2272.0
2239.7
Financial sectors
16218.4
17119.8
15539.6
14764.7
14514.8
14344.9
14141.8
14064.6
13836.3
13721.0
13580.0
10
11
12

629.6
0.5
632.7
708.6
0.0
716.6
576.1
0.0
1089.5
906.8
0.0
1070.7
878.5
0.0
1041.1
839.9
0.0
1092.2
824.9
0.0
1046.9
796.9
0.0
1058.0
783.2
0.0
1011.3
765.9
0.0
984.4
768.9
0.0
964.0
10
11
12
13
14
Credit unions
423.3
32.3
356.1
40.6
152.3
26.5
143.3
25.4
136.2
25.0
133.8
25.2
127.4
26.1
121.0
23.7
116.2
22.8
113.2
23.7
103.4
24.1
13
14
15
16
17
18

ABS issuers
28.7
2910.2
4464.4
4544.7
54.9
3181.9
4961.4
4136.5
48.3
2706.6
5376.7
3292.6
45.6
6653.3
980.2
2696.1
45.6
6591.1
1046.5
2563.6
45.3
6498.1
1096.0
2449.0
45.1
6434.5
1139.5
2339.0
45.5
6437.3
1187.0
2251.2
46.2
6317.3
1236.0
2192.9
46.4
6282.7
1277.3
2127.2
46.9
6233.7
1302.1
2068.8
15
16
17
18
19
20
21
22
Finance companies
REITs
Brokers and dealers
1279.6
421.2
64.8
786.4
1200.3
367.4
142.6
1252.8
1044.1
317.4
92.9
816.8
1048.1
318.5
92.3
784.6
1017.7
316.4
100.9
752.3
974.9
325.3
96.1
769.2
962.1
315.2
129.7
751.4
949.6
326.4
128.2
739.8
917.4
345.3
110.1
737.7
918.1
351.8
99.2
731.2
918.0
346.3
91.8
711.9
19
20
21
22
50875.7
53296.6
53065.8
52683.5
52666.8
52940.9
53353.1
53558.7
53499.4
53827.4
54134.3
23
7046.5
6886.9
7380.6
7517.4
7631.3
7634.4
7726.1
7716.5
7438.6
7346.2
7264.5
24
4936.6
249.7
106.7
1466.9
286.5
4865.2
217.5
95.8
1335.2
373.1
5096.7
227.1
89.1
1298.5
669.2
5192.1
228.7
87.6
1323.7
685.4
5310.2
233.8
86.5
1312.9
688.0
5252.9
244.1
85.6
1317.9
734.0
5314.4
232.3
85.5
1339.3
754.5
5288.3
229.7
85.5
1327.2
785.9
5048.4
237.6
85.6
1302.4
764.6
4987.9
233.2
85.8
1270.0
769.3
4933.1
238.2
86.1
1254.9
752.1
25
26
27
28
29
23
24
25
26
27
28
29
Total credit market assets held by:

Household sector
Federal government
30
Rest of the world
7272.6
7504.6
7724.2
7852.0
7960.2
8160.4
8375.8
8393.5
8390.6
8555.9
8591.3
30
31
Financial sectors
36556.6
38905.1
37961.0
37314.1
37075.3
37146.0
37251.3
37448.6
37670.2
37925.3
38278.6
31
32
33
34
35
36
37
38
Monetary authority
Credit unions
740.6
7666.8
963.3
59.1
92.8
1596.1
657.9
986.0
8197.9
1063.8
73.0
90.9
1320.0
697.9
1987.7
8071.7
778.0
75.8
88.1
1070.4
731.0
2151.8
8311.6
767.2
79.1
83.8
1073.0
737.3
2187.3
8212.3
760.5
63.0
72.2
1061.7
750.2
2150.3
8252.6
881.5
108.1
69.3
1067.2
741.1
2259.2
8270.4
747.1
97.9
68.9
1081.0
755.5
2479.2
8157.7
757.6
105.7
67.6
1064.8
765.4
2700.4
8148.1
773.4
105.3
65.2
1049.3
774.3
2686.1
8261.6
804.4
110.5
63.7
1048.4
781.6
2635.6
8427.3
784.9
100.7
64.0
1049.4
795.0
32
33
34
35
36
37
38
39
40
41
42
43

869.3
2871.2
860.8
820.3
96.1
853.4
2882.8
951.4
833.5
120.3
886.7
3022.6
1063.0
824.7
127.7
886.8
3042.6
1090.0
823.7
129.4
887.2
3083.7
1114.3
819.3
133.6
892.2
3134.3
1138.7
815.8
138.3
890.6
3174.2
1171.0
816.5
138.7
895.7
3215.3
1190.7
825.0
142.2
890.8
3243.5
1217.2
820.5
146.1
891.0
3298.8
1245.0
835.6
154.2
884.6
3327.3
1272.9
832.5
158.0
39
40
41
42
43
44
45
46
47
48
49
50

Mutual funds
Closed-end funds
ABS issuers
1936.4
2203.1
170.9
34.0
2829.5
4464.4
4429.9
2675.0
2276.4
129.9
57.0
3037.5
4961.4
4038.3
2031.0
2657.2
139.5
102.9
2699.7
5376.7
3229.0
1828.5
2784.9
142.5
113.2
6577.4
980.2
2638.7
1703.3
2834.3
140.6
124.6
6494.1
1046.5
2507.4
1599.5
2971.1
142.8
133.4
6385.1
1096.0
2392.7
1621.0
3031.4
144.4
132.6
6333.1
1139.5
2285.2
1583.7
3160.9
146.6
138.0
6327.9
1187.0
2195.7
1521.0
3267.8
147.2
148.9
6252.4
1236.0
2139.9
1527.2
3317.9
142.4
160.4
6176.5
1277.3
2077.9
1628.2
3453.0
143.3
171.4
6133.7
1302.1
2019.5
44
45
46
47
48
49
50
51
52
53
54
Finance companies
REITs
Brokers and dealers
1828.2
246.5
803.1
316.0
1755.9
177.6
717.4
1007.7
1532.6
168.9
525.3
770.9
1556.9
173.1
544.9
797.6
1526.1
177.8
529.1
846.0
1504.8
192.7
539.7
799.0
1482.8
206.0
557.5
846.8
1464.6
258.0
556.8
762.8
1435.3
301.9
549.6
735.9
1434.1
324.2
511.2
795.3
1427.2
320.7
567.2
780.1
51
52
53
54
(1) Excludes corporate equities and mutual fund shares.
62
Z.1, March 8, 2012
L.2 Credit Market Debt Owed by Nonfinancial Sectors

2007
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
Domestic
By instrument
Commercial paper
Treasury securities
Corporate bonds
Bank loans n.e.c.
Mortgages
Home
Commercial
Farm
Consumer credit
By sector
Household sector
Corporate
Noncorporate
Federal government
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
32531.0
34468.0
35435.9
35805.8
36045.2
36459.9
36938.1
37168.2
37341.7
37834.4
38314.6
32531.0
123.8
5099.2
23.1
3448.1
3557.9
1647.4
1714.7
34468.0
131.5
6338.2
23.3
3543.4
3762.5
1839.9
1789.6
35435.9
58.4
7781.9
23.5
3697.9
4139.7
1553.5
1541.7
35805.8
73.6
8259.6
23.6
3730.8
4247.8
1573.9
1504.1
36045.2
82.0
8603.8
23.9
3730.7
4305.7
1550.0
1491.5
36459.9
97.9
8993.8
24.0
3734.7
4433.4
1548.0
1473.5
36938.1
82.9
9361.5
24.2
3795.6
4560.3
1577.7
1455.3
37168.2
110.5
9621.4
24.5
3778.6
4658.7
1579.6
1448.0
37341.7
106.9
9714.1
24.5
3750.5
4771.6
1627.5
1463.2
37834.4
124.7
10102.6
25.0
3733.6
4848.3
1682.0
1474.4
38314.6
116.2
10428.3
25.3
3743.4
4936.3
1733.7
1492.1
2
3
4
5
6
7
8
9
14361.5
11173.1
761.9
2313.9
112.7
2555.3
14445.4
11070.1
812.6
2428.0
134.7
2594.1
14160.4
10870.9
820.1
2338.0
131.3
2478.9
13986.2
10732.5
815.3
2305.9
132.5
2406.1
13870.2
10665.5
811.7
2259.3
133.8
2387.5
13746.9
10586.1
811.9
2213.9
135.0
2407.8
13645.9
10526.6
810.1
2173.0
136.3
2434.7
13545.1
10452.7
810.3
2146.9
135.3
2401.9
13459.1
10397.5
810.1
2117.2
134.3
2424.3
13377.0
10337.5
811.3
2095.0
133.2
2466.7
13318.3
10290.7
813.5
2081.9
132.2
2521.0
10
11
12
13
14
15
32531.0
13782.4
10758.4
6933.6
3824.9
2867.8
5122.3
34468.0
13801.1
11417.6
7269.4
4148.2
2887.8
6361.5
35435.9
13570.2
11061.0
7052.9
4008.1
2999.3
7805.4
35805.8
13451.5
11048.8
7135.1
3913.7
3022.3
8283.2
36045.2
13386.4
11017.2
7170.1
3847.1
3014.0
8627.7
36459.9
13349.7
11075.0
7268.1
3806.9
3017.4
9017.8
36938.1
13328.6
11158.4
7355.1
3803.3
3065.5
9385.6
37168.2
13215.7
11260.9
7462.7
3798.2
3045.7
9645.9
37341.7
13208.4
11381.7
7583.4
3798.3
3013.0
9738.6
37834.4
13205.9
11498.6
7685.6
3813.0
3002.2
10127.6
38314.6
13222.9
11631.3
7800.0
3831.3
3006.8
10453.6
16
17
18
19
20
21
22
23
Foreign credit market debt

held in U.S.
2126.3
1708.8
2090.3
2113.0
2106.8
2136.0
2273.1
2325.9
2321.4
2272.0
2239.7
23
24
25
26
27
Commercial paper
Bonds
Bank loans n.e.c.
413.0
1587.1
102.8
23.4
342.0
1237.3
107.9
21.6
401.3
1570.3
96.8
21.9
387.5
1606.1
97.2
22.2
378.3
1606.0
100.6
22.0
378.0
1628.4
107.7
22.0
398.6
1737.3
115.1
22.1
428.2
1748.3
127.1
22.2
417.2
1751.8
130.5
21.9
352.4
1756.6
140.9
22.1
344.8
1728.8
144.3
21.8
24
25
26
27
34657.3
36176.7
37526.2
37918.8
38152.0
38595.9
39211.2
39494.0
39663.0
40106.4
40554.3
28
28
Domestic and foreign
L.3 Credit Market Debt Owed by Financial Sectors

1
2
3
4
5
6
7
8
9
By instrument
Open market paper
GSE issues
Agency- and GSE-backed mortgage pool sec.
Corporate bonds
Bank loans n.e.c.
Mortgages
By sector
16218.4
17119.8
15539.6
14764.7
14514.8
14344.9
14141.8
14064.6
13836.3
13721.0
13580.0
1251.8
2910.2
4464.4
6291.0
277.1
867.1
156.7
1125.8
3181.9
4961.4
6013.5
773.2
900.5
163.5
677.6
2706.6
5376.7
5722.5
271.5
617.9
166.9
619.8
6653.3
980.2
5537.0
246.0
561.4
167.1
567.7
6591.1
1046.5
5380.7
230.7
530.5
167.6
574.6
6498.1
1096.0
5319.8
200.1
488.0
168.3
575.9
6434.5
1139.5
5170.5
181.3
473.2
167.1
592.5
6437.3
1187.0
5070.8
165.6
442.5
168.9
557.5
6317.3
1236.0
4982.4
144.8
424.8
173.5
527.3
6282.7
1277.3
4921.8
128.6
408.7
174.5
508.3
6233.7
1302.1
4827.3
128.4
405.9
174.3
2
3
4
5
6
7
8
16218.4
17119.8
15539.6
14764.7
14514.8
14344.9
14141.8
14064.6
13836.3
13721.0
13580.0
629.6
0.5
632.7
423.3
32.3
708.6
0.0
716.6
356.1
40.6
576.1
0.0
1089.5
152.3
26.5
906.8
0.0
1070.7
143.3
25.4
878.5
0.0
1041.1
136.2
25.0
839.9
0.0
1092.2
133.8
25.2
824.9
0.0
1046.9
127.4
26.1
796.9
0.0
1058.0
121.0
23.7
783.2
0.0
1011.3
116.2
22.8
765.9
0.0
984.4
113.2
23.7
768.9
0.0
964.0
103.4
24.1
10
11
12
13
14
10
11
12
13
14

Credit unions
15
16
17
18

ABS issuers
28.7
2910.2
4464.4
4544.7
54.9
3181.9
4961.4
4136.5
48.3
2706.6
5376.7
3292.6
45.6
6653.3
980.2
2696.1
45.6
6591.1
1046.5
2563.6
45.3
6498.1
1096.0
2449.0
45.1
6434.5
1139.5
2339.0
45.5
6437.3
1187.0
2251.2
46.2
6317.3
1236.0
2192.9
46.4
6282.7
1277.3
2127.2
46.9
6233.7
1302.1
2068.8
15
16
17
18
19
20
21
22
Finance companies
REITs
Brokers and dealers
1279.6
421.2
64.8
786.4
1200.3
367.4
142.6
1252.8
1044.1
317.4
92.9
816.8
1048.1
318.5
92.3
784.6
1017.7
316.4
100.9
752.3
974.9
325.3
96.1
769.2
962.1
315.2
129.7
751.4
949.6
326.4
128.2
739.8
917.4
345.3
110.1
737.7
918.1
351.8
99.2
731.2
918.0
346.3
91.8
711.9
19
20
21
22
63
Z.1, March 8, 2012
L.4 Credit Market Debt, All Sectors, by Instrument

2007
1
2
3
4
5
6
7
8
9
10
11
12
Total
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
50875.7
53296.6
53065.8
52683.5
52666.8
52940.9
53353.1
53558.7
53499.4
53827.4
54134.3
Open market paper

Treasury securities
1788.6
5099.2
7397.7
3448.1
11435.9
1599.3
6338.2
8166.7
3543.4
11013.2
1137.4
7781.9
8106.8
3697.9
11432.5
1081.0
8259.6
7657.0
3730.8
11390.9
1028.0
8603.8
7661.4
3730.7
11292.4
1050.6
8993.8
7618.0
3734.7
11381.5
1057.5
9361.5
7598.2
3795.6
11468.0
1131.2
9621.4
7648.7
3778.6
11477.8
1081.6
9714.1
7577.8
3750.5
11505.9
1004.4
10102.6
7585.0
3733.6
11526.8
969.2
10428.3
7561.1
3743.4
11492.5
2
3
4
5
6
Bank loans n.e.c.

Mortgages
Consumer credit
2027.3
2605.3
14518.2
2555.3
2721.1
2711.7
14608.9
2594.1
1921.8
2181.4
14327.3
2478.9
1917.0
2087.8
14153.3
2406.1
1881.3
2043.9
14037.8
2387.5
1855.7
1983.5
13915.2
2407.8
1874.1
1950.6
13813.0
2434.7
1872.3
1912.8
13714.0
2401.9
1902.8
1909.8
13632.6
2424.3
1951.5
1905.1
13551.6
2466.7
2006.5
1919.8
13492.6
2521.0
7
8
9
10
25580.9
7829.0
15640.5
5435.3
20123.2
6961.6
21008.9
7295.0
18733.5
6764.2
21070.4
7401.8
23249.0
7934.5
24589.2
8471.9
24451.5
8570.5
20300.0
7532.8
22211.4
7955.9
11
12
Memo:
Selected claims not included above:
Corporate equities
Mutual fund shares
L.5 Total Liabilities and Its Relation to Total Financial Assets

Total credit market debt

(from table L.4)
50875.7
53296.6
53065.8
52683.5
52666.8
52940.9
53353.1
53558.7
53499.4
53827.4
54134.3

SDR certificates
Treasury currency
Foreign deposits
67.3
2.2
27.4
1340.9
88.6
74.2
2.2
26.6
946.7
1890.5
175.1
5.2
26.2
840.6
1281.5
170.1
5.2
26.2
841.7
1194.1
165.7
5.2
26.2
879.5
1139.4
177.0
5.2
25.9
887.9
1029.3
175.8
5.2
25.9
912.3
1091.6
184.3
5.2
25.9
957.7
1802.4
189.3
5.2
25.9
941.7
1917.9
186.4
5.2
25.9
933.5
1979.4
183.8
5.2
25.9
896.1
1913.5
2
3
4
5
6
7
8
9
10
11

Large time deposits
Security RPs
1532.9
5224.5
2382.2
3033.1
2159.8
2101.3
5749.3
2191.6
3757.3
1270.3
2093.4
6326.5
1989.8
3258.3
1452.4
2067.1
6459.4
1887.8
2930.7
1461.3
2173.1
6443.4
1799.3
2760.4
1324.0
2181.2
6539.7
1836.9
2746.1
1290.6
2359.8
6624.9
1807.5
2755.3
1227.4
2193.3
6741.5
1811.8
2679.4
1258.5
2314.6
6898.8
1815.3
2637.8
1220.8
2403.7
7065.7
1658.4
2578.4
1067.2
2592.6
7202.8
1602.8
2642.5
1108.2
7
8
9
10
11
12
13
14
15
Mutual fund shares

Security credit
7829.0
1526.4
1201.5
13390.7
5435.3
1128.5
1179.8
10408.5
6961.6
1091.2
1242.1
11914.5
7295.0
1108.8
1249.5
12291.0
6764.2
1146.1
1235.7
11610.2
7401.8
1173.7
1261.9
12331.9
7934.5
1214.8
1278.3
13088.3
8471.9
1258.1
1297.8
13483.5
8570.5
1323.8
1311.2
13412.8
7532.8
1380.9
1318.5
12466.6
7955.9
1312.4
1338.9
13160.9
12
13
14
15
16
17
18
Trade payables
Taxes payable
Miscellaneous
3398.0
167.7
17441.8
3228.0
44.0
19846.9
3204.2
40.6
19678.3
3277.4
49.5
19623.7
3313.7
43.7
20415.9
3387.6
53.9
20149.4
3403.0
51.8
20433.6
3477.3
78.2
20318.7
3553.4
66.5
20416.6
3618.8
68.6
21639.8
3679.0
72.1
21267.7
16
17
18
19
Total liabilities
111689.7 112577.4 114647.2 114622.0 113912.4 115420.9 117743.0 119604.1 120121.5 119757.0 121094.8
19
20
21
22
+ Financial assets not included in

liabilities:
Gold
Corporate equities
Household equity in noncorp. bus.
11.0
25580.9
8951.2
11.0
15640.5
7314.6
11.0
20123.2
6428.9
11.0
21008.9
6632.6
11.0
18733.5
7004.3
11.0
21070.4
6717.7
11.0
23249.0
7162.7
11.0
24589.2
7169.3
11.0
24451.5
7145.0
11.0
20300.0
7525.8
11.0
22211.4
7298.7
20
21
22
23
24
25
- Liabilities not identified as assets:

Treasury currency
Foreign deposits
-11.3
1082.9
21.1
-12.1
735.8
51.7
-16.5
661.4
86.1
-16.5
660.1
58.9
-17.0
684.8
74.0
-17.5
670.6
69.4
-17.6
679.6
61.8
-17.9
713.6
75.3
-18.0
688.7
83.3
-18.2
701.3
104.2
-18.3
690.3
89.4
23
24
25
628.0
-174.8
-7147.8
32.6
-345.3
-4807.1
410.9
-375.5
-5298.2
462.0
-371.4
-5421.3
438.8
-386.2
-5181.1
359.3
-388.5
-5534.7
295.6
-397.1
-5366.2
223.4
-380.0
-5427.8
208.8
-400.3
-5487.4
186.7
-394.5
-5163.6
172.6
-401.9
-5523.2
26
27
28
0.0
2.8
7.3
118.1
0.0
1.2
5.3
130.9
0.0
2.0
4.2
208.3
0.0
1.4
3.3
221.7
0.0
-0.6
3.4
162.0
0.0
1.6
3.5
201.4
0.0
2.5
3.2
267.1
0.0
2.6
3.3
252.6
0.0
3.5
3.4
226.0
0.0
1.7
3.9
247.3
0.0
2.5
4.1
351.1
29
30
31
32
151706.7 139750.5 145527.6 146676.5 143883.2 147855.1 152636.9 155928.5 156421.1 151925.0 155249.5
33
2
3
4
5
6
26
27
28
Security RPs
Taxes payable
Miscellaneous
29
30
31
32
- Floats not included in assets:

Checkable deposits: State and local govt.
Federal govt.
Private domestic
Trade credit
33
Totals identified to sectors as assets
64
Z.1, March 8, 2012
L.10 Assets and Liabilities of the Personal Sector (1)

2007
Total financial assets
2
3
4
5
Foreign deposits
Securities
7
8
9
10
Open market paper

U.S. savings bonds
Treasury bills and other Treasury securities
11
12
13
14
Mutual fund shares
15
16
17
18
19

Governments
20
Miscellaneous and other assets
21
Total liabilities
22
23
24
Home mortgages
Other mortgages
Consumer credit
25
26
27
Policy loans
Security credit
Other liabilities
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
46230.9
38622.7
42609.9
43368.2
41612.7
43566.3
45551.7
46835.1
46583.2
43553.8
45254.4
80.5
605.9
6247.9
1421.0
56.9
811.4
6440.9
1657.2
50.5
870.1
6543.3
1386.8
50.6
768.4
6669.3
1271.1
52.8
722.5
6667.4
1211.6
53.3
675.5
6724.0
1196.7
54.8
703.9
6759.2
1200.4
57.5
680.4
6803.3
1169.3
56.6
683.3
6954.4
1157.5
56.1
751.5
6988.8
1171.7
53.2
828.6
7049.1
1177.9
2
3
4
5
19108.5
13855.1
16565.0
17063.1
16130.3
17345.6
18482.0
19352.4
18962.5
16688.7
17574.0
107.3
196.4
127.6
689.2
6.0
194.0
114.4
733.5
34.6
191.2
670.5
139.0
44.6
190.2
827.7
107.9
54.2
189.6
1012.4
148.9
63.0
188.7
1036.5
182.0
63.4
187.9
972.3
219.0
67.9
186.8
882.9
306.7
64.9
186.0
706.2
279.7
60.3
185.1
777.4
232.1
58.2
185.2
818.3
196.1
7
8
9
10
1730.7
2022.7
9636.8
4597.9
1771.6
1961.6
5746.9
3327.2
1901.6
2082.7
7408.7
4136.7
1935.0
2011.6
7649.4
4296.9
1938.9
1893.5
6918.7
3974.2
1921.4
1790.7
7863.7
4299.6
1962.8
1841.9
8663.1
4571.7
1964.1
1815.7
9211.7
4916.7
1933.0
1818.5
9008.2
4965.9
1907.0
1768.2
7415.2
4343.3
1884.3
1737.0
8140.2
4554.7
11
12
13
14
1076.8
13390.7
2450.8
6444.8
4495.1
1049.8
10408.5
2184.6
4588.0
3635.9
1109.2
11914.5
2323.0
5507.4
4084.2
1115.4
12291.0
2371.5
5745.0
4174.5
1098.5
11610.2
2305.3
5352.4
3952.5
1122.8
12331.9
2406.1
5765.0
4160.9
1137.2
13088.3
2504.7
6134.3
4449.4
1155.3
13483.5
2565.6
6363.6
4554.3
1167.8
13412.8
2586.6
6368.8
4457.4
1172.6
12466.6
2513.1
5754.4
4199.1
1190.6
13160.9
2568.0
6117.3
4475.5
15
16
17
18
19
4299.6
4342.9
4170.4
4139.2
4119.3
4116.3
4125.8
4133.3
4188.2
4257.9
4220.0
20
19745.6
20079.1
19791.7
19582.6
19478.3
19420.1
19451.2
19384.9
19391.8
19360.7
19396.9
21
11130.8
2301.9
2555.3
11037.4
2529.9
2594.1
10850.6
2551.9
2478.9
10714.1
2527.3
2406.1
10649.5
2494.7
2387.5
10571.3
2466.9
2407.8
10513.0
2446.7
2434.7
10440.3
2439.3
2401.9
10386.2
2432.3
2424.3
10326.8
2425.5
2466.7
10280.5
2417.9
2521.0
22
23
24
114.5
325.5
3317.6
120.4
164.8
3632.4
121.1
203.0
3586.2
121.7
196.4
3617.1
122.4
217.0
3607.2
123.5
233.7
3616.8
124.5
278.2
3654.2
124.8
315.7
3662.9
125.5
312.8
3710.7
126.4
251.9
3763.4
126.8
238.5
3812.2
25
26
27
(1) Combined statement for households and nonprofit organizations and nonfinancial noncorporate business.
(2) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual funds (line 14) and life insurance and pension reserves (lines 15, 16, 17, and 18).
65
Z.1, March 8, 2012
L.100 Households and Nonprofit Organizations (1)

2007
1
2
3
4
5
6
7

Deposits
Foreign deposits
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
51574.6
42234.6
45434.3
46454.0
45116.1
46817.3
49252.4
50542.5
50262.2
47604.0
49067.2
7406.0
8013.5
7883.9
7808.6
7715.7
7719.9
7790.1
7782.1
7922.2
8035.4
8172.4
80.5
90.3
5888.5
1346.7
56.9
292.0
6082.8
1581.8
50.5
330.3
6190.0
1313.1
50.6
237.4
6322.0
1198.7
52.8
198.2
6324.6
1140.0
53.3
156.1
6384.6
1125.9
54.8
185.3
6420.3
1129.7
57.5
161.5
6464.5
1098.6
56.6
163.6
6615.2
1086.8
56.1
229.9
6648.7
1100.7
53.2
304.8
6707.7
1106.7
3
4
5
6
4936.6
4865.2
5096.7
5192.1
5310.2
5252.9
5314.4
5288.3
5048.4
4987.9
4933.1
107.3
264.6
196.4
68.3
689.2
6.0
256.5
194.0
62.6
733.5
34.6
815.5
191.2
624.3
139.0
44.6
972.5
190.2
782.3
107.9
54.2
1157.2
189.6
967.6
148.9
63.0
1180.8
188.7
992.1
182.0
63.4
1115.9
187.9
928.0
219.0
67.9
1025.4
186.8
838.6
306.7
64.9
847.9
186.0
662.0
279.7
60.3
918.1
185.1
733.0
232.1
58.2
958.9
185.2
773.7
196.1
8
9
10
11
12
8
9
10
11
12
Open market paper

Treasury securities
Savings bonds
13
14
15
16
Mortgages
1725.4
2022.7
17.6
109.8
1766.7
1961.6
29.7
111.2
1896.5
2082.7
26.8
101.5
1930.0
2011.6
25.7
99.9
1934.0
1893.5
25.9
96.5
1916.5
1790.7
26.4
93.4
1957.9
1841.9
26.2
90.2
1959.3
1815.7
25.8
87.6
1928.1
1818.5
24.9
84.3
1902.1
1768.2
24.7
82.4
1879.4
1737.0
24.7
78.9
13
14
15
16
17
18
19
20
21
22
23

Mutual fund shares
Security credit
9636.8
4597.9
866.4
1076.8
13390.7
8951.2
712.2
5746.9
3327.2
742.7
1049.8
10408.5
7314.6
766.3
7408.7
4136.7
668.6
1109.2
11914.5
6428.9
787.1
7649.4
4296.9
680.0
1115.4
12291.0
6632.6
788.1
6918.7
3974.2
686.0
1098.5
11610.2
7004.3
798.4
7863.7
4299.6
696.8
1122.8
12331.9
6717.7
811.9
8663.1
4571.7
694.3
1137.2
13088.3
7162.7
830.6
9211.7
4916.7
703.3
1155.3
13483.5
7169.3
832.3
9008.2
4965.9
757.7
1167.8
13412.8
7145.0
834.1
7415.2
4343.3
804.9
1172.6
12466.6
7525.8
852.3
8140.2
4554.7
752.3
1190.6
13160.9
7298.7
864.1
17
18
19
20
21
22
23
24
25
Total liabilities
26
27
28
Home mortgages (4)

Consumer credit
29
30
31

32
33
34
Security credit
Trade payables
Deferred and unpaid
14346.4
14229.7
14048.0
13930.5
13892.2
13874.7
13905.7
13835.8
13829.5
13768.3
13773.9
24
13782.4
13801.1
13570.2
13451.5
13386.4
13349.7
13328.6
13215.7
13208.4
13205.9
13222.9
25
10545.7
2555.3
250.7
10496.5
2594.1
258.7
10351.2
2478.9
264.6
10227.5
2406.1
265.7
10175.3
2387.5
263.5
10104.6
2407.8
260.8
10050.9
2434.7
262.3
9984.9
2401.9
261.9
9936.9
2424.3
260.7
9882.4
2466.7
256.1
9840.5
2521.0
254.4
26
27
28
99.7
127.0
204.0
117.7
133.2
200.9
147.8
133.7
194.0
226.4
134.3
191.5
237.5
134.7
187.9
256.3
135.8
184.3
263.2
136.1
181.4
251.0
136.4
179.6
271.7
136.9
177.9
286.8
137.8
176.1
294.8
138.0
174.1
29
30
31
325.5
214.5
164.8
236.7
203.0
252.7
196.4
258.0
217.0
263.3
233.7
268.7
278.2
274.1
315.7
279.1
312.8
282.6
251.9
286.0
238.5
288.2
32
33
23.9
27.0
22.1
24.6
25.5
22.6
24.7
25.2
25.6
24.4
24.3
34
(1) Sector includes domestic hedge funds, private equity funds, and personal trusts. Supplementary tables (tables F.100.a and L.100.a) show estimates of annual flows and year-end
outstandings of nonprofit organizations.
(3) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 18) and life insurance and pension reserves (lines 20 and 21).
(4) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 24.
(5) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table L.109, line 15.
66
Z.1, March 8, 2012
L.101 Nonfinancial Business (1)

2007
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
17358.0
16630.8
16933.5
17076.6
17157.7
17416.3
17691.9
17945.3
18190.0
18294.3
18654.6
2
3
4
5
6
Foreign deposits
Security RPs
50.3
662.9
800.7
618.7
8.1
24.7
558.0
740.0
777.9
7.2
31.5
705.8
842.1
719.8
7.9
38.6
770.5
805.3
640.7
9.0
49.4
811.9
781.0
595.8
9.2
59.8
870.4
810.7
592.6
6.6
72.0
963.6
810.5
588.2
12.2
79.0
1020.9
860.9
568.1
12.8
84.2
1078.5
885.2
551.7
12.1
89.4
1136.9
912.4
529.7
11.4
94.0
1195.8
940.8
538.1
11.6
2
3
4
5
6
356.4
313.4
316.3
316.3
320.3
329.7
317.8
315.2
323.2
319.0
324.3
69.5
97.7
12.8
34.5
83.5
58.6
57.3
82.3
10.2
31.1
72.8
59.8
56.0
89.1
14.3
32.2
67.5
57.2
57.2
95.1
16.6
28.2
65.8
53.5
63.8
97.0
17.4
25.0
64.3
52.8
72.5
97.7
18.0
26.2
62.9
52.4
71.4
87.6
15.2
25.7
61.8
56.0
76.0
87.0
13.4
25.1
60.8
52.8
75.1
94.5
15.9
24.9
59.8
53.1
73.9
94.5
14.0
24.6
58.9
53.1
74.8
95.5
15.0
24.1
58.0
57.0
8
9
10
11
12
13
191.1
2778.7
11891.2
125.8
2603.7
11480.0
190.2
2546.8
11573.1
199.2
2592.4
11704.4
188.1
2684.8
11717.2
206.6
2718.2
11821.7
222.9
2665.9
12038.8
234.8
2751.9
12101.7
238.0
2850.2
12166.8
215.5
2886.2
12193.7
229.3
2845.9
12474.8
14
15
16
18315.2
19074.4
18641.9
18638.2
18623.3
18734.1
18824.3
18948.2
19041.3
19095.5
19219.8
17
8
9
10
11
12
13
14
15
16
17
18
2008
Commercial paper
Treasury securities
Mortgages
Consumer credit
Mutual fund shares
Trade receivables
Total liabilities
10758.4
11417.6
11061.0
11048.8
11017.2
11075.0
11158.4
11260.9
11381.7
11498.6
11631.3
18
19
20
21
Commercial paper
Corporate bonds
123.8
341.5
3557.9
131.5
409.7
3762.5
58.4
447.5
4139.7
73.6
456.4
4247.8
82.0
466.9
4305.7
97.9
470.3
4433.4
82.9
482.3
4560.3
110.5
485.4
4658.7
106.9
491.4
4771.6
124.7
490.3
4848.3
116.2
497.4
4936.3
19
20
21
22
23
24
Bank loans n.e.c.

Mortgages
1547.7
1575.8
3611.8
1722.2
1643.7
3748.0
1405.7
1394.4
3615.2
1347.6
1356.2
3567.2
1312.4
1343.1
3507.0
1291.6
1323.7
3458.0
1314.5
1304.8
3413.6
1328.6
1297.2
3380.6
1355.8
1311.6
3344.3
1395.2
1321.6
3318.6
1438.9
1338.9
3303.7
22
23
24
2272.8
135.3
5148.7
2053.4
145.1
5458.2
1975.8
135.6
5469.5
2019.5
147.2
5422.7
2037.4
140.0
5428.7
2085.5
142.0
5431.7
2116.8
133.8
5415.2
2163.3
152.0
5372.0
2233.2
141.9
5284.5
2289.7
148.2
5159.1
2347.3
143.9
5097.3
25
26
27
25
26
27
Trade payables
Taxes payable
(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
67
Z.1, March 8, 2012
L.102 Nonfinancial Corporate Business

2007
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
13762.1
12937.7
13341.1
13544.1
13670.9
13962.5
14243.7
14496.8
14737.1
14830.3
15179.0
2
3
4
5
6
Foreign deposits
Security RPs
50.3
147.3
441.3
544.4
8.1
24.7
38.6
381.9
702.6
7.2
31.5
166.0
488.8
646.1
7.9
38.6
239.5
458.0
568.3
9.0
49.4
287.6
438.3
524.3
9.2
59.8
350.9
471.2
521.8
6.6
72.0
445.0
471.6
517.5
12.2
79.0
502.0
522.1
497.4
12.8
84.2
558.8
546.0
481.0
12.1
89.4
615.4
572.3
458.8
11.4
94.0
672.0
599.4
466.9
11.6
2
3
4
5
6
249.7
217.5
227.1
228.7
233.8
244.1
232.3
229.7
237.6
233.2
238.2
69.5
38.3
12.8
29.2
41.4
58.6
57.3
30.5
10.2
26.2
33.6
59.8
56.0
43.0
14.3
27.1
29.5
57.2
57.2
49.7
16.6
23.2
28.5
53.5
63.8
52.2
17.4
20.1
27.5
52.8
72.5
53.4
18.0
21.3
26.5
52.4
71.4
43.4
15.2
20.8
25.4
56.0
76.0
42.8
13.4
20.3
24.4
52.8
75.1
50.2
15.9
20.0
23.4
53.1
73.9
50.1
14.0
19.7
22.4
53.1
74.8
50.9
15.0
19.2
21.3
57.0
8
9
10
11
12
13
8
9
10
11
12
13
2008
Commercial paper
Treasury securities
Mortgages
Consumer credit
14
15
Mutual fund shares

Trade receivables
191.1
2253.0
125.8
2081.1
190.2
2050.5
199.2
2104.5
188.1
2203.3
206.6
2241.3
222.9
2189.8
234.8
2275.9
238.0
2373.8
215.5
2408.3
229.3
2366.2
14
15
16
17
18
19
20
21
U.S. direct investment abroad (1)
Equity in GSEs
Investment in finance company subs.
Other
9877.0
2892.9
299.9
0.7
81.5
6601.9
9358.3
3011.1
311.1
0.4
80.5
5955.2
9533.1
3294.0
310.2
0.5
71.2
5857.3
9698.2
3404.4
309.9
0.5
95.9
5887.6
9736.8
3471.6
312.8
0.4
94.6
5857.5
9860.1
3545.5
314.6
0.5
94.2
5905.3
10080.3
3585.2
313.2
0.6
91.5
6089.9
10143.1
3681.6
313.3
0.7
108.7
6038.8
10205.6
3815.2
319.1
0.6
113.2
5957.5
10226.1
3894.1
322.5
0.5
112.9
5896.0
10501.5
3950.4
318.5
0.5
113.0
6119.1
16
17
18
19
20
21
12916.0
13225.0
12898.3
12986.1
13037.2
13188.7
13278.7
13399.0
13479.0
13503.1
13596.7
22
22
Total liabilities
23
6933.6
7269.4
7052.9
7135.1
7170.1
7268.1
7355.1
7462.7
7583.4
7685.6
7800.0
23
24
25
26
Commercial paper
Corporate bonds (1)
123.8
341.5
3557.9
131.5
409.7
3762.5
58.4
447.5
4139.7
73.6
456.4
4247.8
82.0
466.9
4305.7
97.9
470.3
4433.4
82.9
482.3
4560.3
110.5
485.4
4658.7
106.9
491.4
4771.6
124.7
490.3
4848.3
116.2
497.4
4936.3
24
25
26
27
28
29
Bank loans n.e.c.

Mortgages
621.1
1360.5
928.8
676.1
1411.5
878.1
475.9
1173.4
757.9
474.9
1137.5
744.9
464.2
1125.3
726.0
460.1
1097.7
708.7
468.6
1074.8
686.2
476.3
1066.3
665.5
486.3
1086.4
640.7
500.8
1096.8
624.7
519.6
1110.6
619.9
27
28
29
1897.9
35.8
4048.6
1961.9
47.2
2039.5
1672.7
39.0
4243.9
2050.3
47.9
2145.7
1587.5
35.7
4222.2
2025.8
50.5
2146.0
1634.4
49.5
4167.2
2070.8
49.9
2046.4
1657.7
43.9
4165.6
2099.2
49.6
2016.8
1712.9
47.1
4160.7
2166.0
49.4
1945.2
1748.5
39.1
4136.0
2175.2
49.2
1911.6
1795.0
57.3
4084.1
2199.5
49.0
1835.6
1862.2
47.0
3986.4
2247.7
49.0
1689.7
1915.0
53.0
3849.6
2320.1
49.1
1480.4
1973.1
48.2
3775.5
2373.6
49.4
1352.5
30
31
32
33
34
35
355.1
15730.7
408.3
10016.6
463.0
12494.7
470.1
12914.3
545.6
11488.2
528.4
12905.4
441.2
14422.3
480.9
15339.3
511.6
15246.8
493.4
12867.3
393.1
14276.6
36
37
30
31
32
33
34
35
Trade payables
Taxes payable
Pension fund contributions payable
Other
Memo:
36
37
Trade receivables net of payables

Market value of equities
38
39
Securities and mortgages

Loans and short-term paper
4828.1
2105.4
5050.3
2219.1
5345.2
1707.7
5449.1
1685.9
5498.6
1671.4
5612.4
1655.7
5728.8
1626.3
5809.6
1653.0
5903.7
1679.6
5963.3
1722.3
6053.6
1746.4
38
39
40
41
Total short-term liabilities (4)

Total liquid assets (5)
4039.2
1532.1
3930.8
1404.8
3330.9
1670.8
3369.8
1659.2
3373.0
1650.4
3415.7
1782.2
3413.9
1892.1
3505.3
2000.7
3588.8
2081.3
3690.2
2120.4
3767.7
2233.0
40
41
42
43
Analytical measures (percent)

Long-term debt/credit market debt
Short-term debt/credit market debt
69.6
30.4
69.5
30.5
75.8
24.2
76.4
23.6
76.7
23.3
77.2
22.8
77.9
22.1
77.8
22.2
77.9
22.1
77.6
22.4
77.6
22.4
42
43
44
Liquid assets/short-term liabilities
37.9
35.7
50.2
49.2
48.9
52.2
55.4
57.1
58.0
57.5
59.3
44
(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.
(3) Loans from rest of the world, U.S. government, and nonbank financial institutions. Detail can be found on table L.216.
(4) Sum of lines 24, 27, 28, 30, and 31. Includes loans due in more than one year and excludes current maturities of bonds and mortgages.
(5) Sum of lines 2 through 6, lines 8 through 11, and line 14.
68
Z.1, March 8, 2012
L.103 Nonfinancial Noncorporate Business

2007
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
3595.9
3693.1
3592.4
3532.5
3486.9
3453.8
3448.3
3448.5
3452.9
3464.0
3475.6
2
3
4

515.6
359.3
74.3
519.4
358.1
75.4
539.8
353.3
73.7
531.0
347.3
72.5
524.3
342.8
71.5
519.5
339.4
70.8
518.6
338.9
70.7
518.9
338.8
70.7
519.7
339.2
70.8
521.6
340.2
71.0
523.8
341.4
71.2
2
3
4
106.7
95.8
89.1
87.6
86.5
85.6
85.5
85.5
85.6
85.8
86.1
59.3
5.3
42.1
0.0
51.8
4.9
39.1
0.0
46.1
5.1
37.9
0.0
45.4
5.0
37.3
0.0
44.8
4.9
36.8
0.0
44.3
4.9
36.4
0.0
44.3
4.9
36.4
0.0
44.3
4.9
36.3
0.0
44.3
4.9
36.4
0.0
44.4
4.9
36.5
0.0
44.6
4.9
36.6
0.0
6
7
8
9
525.6
2014.3
107.3
5.0
1902.0
522.7
2121.8
111.5
6.4
2003.9
496.3
2040.0
112.4
6.3
1921.3
487.9
2006.2
112.3
6.4
1887.5
481.5
1980.3
113.0
6.4
1860.8
476.8
1961.6
113.2
6.7
1841.7
476.1
1958.4
112.5
6.7
1839.2
476.0
1958.6
113.0
6.7
1839.0
476.4
1961.3
115.1
6.8
1839.3
477.9
1967.6
116.8
7.0
1843.9
479.7
1973.3
116.4
7.0
1849.9
10
11
12
13
14
5399.3
5849.4
5743.6
5652.1
5586.1
5545.4
5545.6
5549.1
5562.3
5592.4
5623.1
15
3824.9
4148.2
4008.1
3913.7
3847.1
3806.9
3803.3
3798.2
3798.3
3813.0
3831.3
16
926.5
215.3
2683.0
1046.1
232.2
2869.9
929.8
221.0
2857.3
872.7
218.7
2822.3
848.2
217.8
2781.1
831.6
226.1
2749.3
845.9
230.0
2727.4
852.3
230.9
2715.1
869.5
225.2
2703.6
894.4
224.8
2693.8
919.3
228.2
2683.8
17
18
19
374.9
99.5
1100.0
380.7
106.2
1214.3
388.3
99.9
1247.4
385.1
97.7
1255.5
379.7
96.1
1263.1
372.6
94.9
1271.0
368.3
94.7
1279.2
368.3
94.7
1287.9
371.0
94.8
1298.1
374.7
95.2
1309.5
374.2
95.6
1321.9
20
21
22
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
2008
Treasury securities
Mortgages
Consumer credit
Trade receivables
Other
Total liabilities
Bank loans n.e.c.
Mortgages
Trade payables
Taxes payable
69
Z.1, March 8, 2012
L.105 State and Local Governments (1)

2007
1
2
3
4
5

Security RPs
6
7
8
9
10
11
12

Open market paper
Treasury securities
Mortgages
13
14
15
16
17
Corporate equities
Mutual fund shares
Trade receivables
Taxes receivable
18
Total liabilities
19
20
21
22
23

Short-term
Other
24
Trade payables
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
2516.9
2423.3
2502.7
2592.1
2562.5
2585.4
2631.9
2604.2
2571.9
2525.3
2524.8
57.1
245.9
79.3
156.1
65.6
265.1
77.5
152.6
84.9
275.9
81.6
160.6
81.0
281.9
85.0
167.3
81.8
265.1
84.1
165.5
81.4
268.7
85.3
167.9
91.5
275.5
86.9
171.2
90.0
278.8
86.3
170.0
95.4
274.4
85.8
168.8
94.2
279.9
84.6
166.6
107.2
293.2
84.6
166.5
2
3
4
5
1466.9
184.3
525.1
444.0
5.5
140.7
167.3
1335.2
119.8
475.1
434.1
5.4
137.5
163.3
1298.5
65.3
493.9
417.0
5.7
144.8
171.8
1323.7
57.2
499.9
430.9
5.9
150.8
179.0
1312.9
54.9
504.8
420.9
5.9
149.2
177.1
1317.9
63.0
498.1
422.7
6.0
151.3
176.8
1339.3
72.2
503.6
427.0
6.1
154.3
176.1
1327.2
82.6
490.5
418.7
6.0
153.2
176.1
1302.4
86.0
473.0
410.3
6.0
152.2
174.9
1270.0
88.1
454.5
398.9
5.9
150.2
172.5
1254.9
93.0
444.6
388.8
5.9
150.1
172.4
6
7
8
9
10
11
12
108.0
32.8
159.9
237.5
-26.7
82.1
32.0
156.4
269.8
-13.0
117.7
33.7
164.6
280.9
4.3
114.7
35.1
171.5
281.8
50.1
106.0
29.7
169.7
286.9
60.8
107.6
30.2
172.1
295.5
58.8
109.9
30.9
175.4
298.0
53.2
109.1
30.7
174.2
303.5
34.3
108.3
30.4
173.0
308.2
25.3
106.7
30.0
170.7
300.4
22.1
106.7
30.0
170.7
307.5
3.6
13
14
15
16
17
3421.3
3480.4
3629.7
3662.2
3663.5
3676.6
3734.3
3724.3
3701.5
3700.5
3715.0
18
2867.8
2855.9
51.2
2804.7
11.9
2887.8
2875.0
55.9
2819.2
12.7
2999.3
2985.7
63.6
2922.1
13.5
3022.3
3008.6
63.7
2945.0
13.7
3014.0
3000.2
47.3
2952.9
13.8
3017.4
3003.5
52.0
2951.5
13.9
3065.5
3051.1
63.0
2988.1
14.4
3045.7
3031.2
60.1
2971.0
14.5
3013.0
2998.3
37.6
2960.7
14.7
3002.2
2987.2
48.0
2939.2
15.0
3006.8
2991.6
52.3
2939.3
15.3
19
20
21
22
23
553.5
592.7
630.4
639.9
649.5
659.1
668.8
678.6
688.5
698.4
708.2
24
(1) Data for employee retirement funds are shown in table L.119.
L.106 Federal Government

1
2
3
4

686.6
1268.2
1351.3
1380.5
1436.3
1519.4
1579.0
1402.6
1417.2
1342.9
1355.8
36.4
56.5
2.8
41.9
368.0
1.6
94.6
193.6
1.9
92.2
219.5
2.0
89.8
291.6
1.8
96.3
310.2
1.8
95.4
342.1
2.0
102.1
117.5
1.5
105.9
135.5
1.7
105.0
57.6
1.8
103.9
84.3
1.7
2
3
4
5
6
7
8
9
10

Mortgages
Consumer credit (1)
286.5
0.0
0.0
105.8
82.4
98.4
373.1
54.4
0.0
111.8
95.8
111.0
669.2
196.4
0.6
177.9
108.4
186.0
685.4
186.4
0.6
181.5
107.1
209.8
688.0
175.3
0.7
181.1
108.4
222.6
734.0
164.4
0.8
182.0
106.6
280.3
754.5
149.2
0.9
181.4
106.6
316.4
785.9
138.4
0.9
183.6
107.8
355.2
764.6
103.7
0.9
180.6
109.3
370.1
769.3
70.6
0.8
182.5
109.3
406.1
752.1
31.1
0.8
184.5
110.6
425.1
5
6
7
8
9
10
11
12
13
14

Trade receivables
Taxes receivable
0.0
60.6
105.0
138.7
188.7
64.7
119.4
110.8
67.4
43.6
135.1
145.8
50.2
45.0
139.1
147.2
49.6
42.0
143.0
130.5
50.8
42.7
146.9
136.8
49.9
42.9
150.8
141.4
55.1
44.7
154.8
141.0
61.1
47.0
158.7
142.7
56.7
46.7
162.6
143.2
57.5
44.8
166.5
144.9
11
12
13
14
6537.4
7888.4
9405.9
9877.4
10235.4
10648.0
11095.7
11359.2
11366.5
11875.1
12282.3
15
7.7
2.2
27.4
7.5
2.2
26.6
55.4
5.2
26.2
53.6
5.2
26.2
52.2
5.2
26.2
55.0
5.2
25.9
54.4
5.2
25.9
56.0
5.2
25.9
56.5
5.2
25.9
55.2
5.2
25.9
54.2
5.2
25.9
16
17
18
15
Total liabilities
16
17
18
SDR allocations
SDR certificates
Treasury currency
19
20
21
22
23
24

Savings bonds
Treasury bills
5122.3
196.4
999.5
3903.3
23.1
0.0
6361.5
194.0
1861.2
4283.0
23.3
0.0
7805.4
191.2
1787.9
5802.8
23.5
0.0
8283.2
190.2
1838.0
6231.4
23.6
0.0
8627.7
189.6
1777.0
6637.2
23.9
0.0
9017.8
188.7
1783.7
7021.4
24.0
0.0
9385.6
187.9
1768.9
7404.7
24.2
0.0
9645.9
186.8
1694.7
7739.9
24.5
0.0
9738.6
186.0
1529.4
7998.7
24.5
0.0
10127.6
185.1
1475.6
8442.0
25.0
0.0
10453.6
185.2
1519.5
8723.7
25.3
0.0
19
20
21
22
23
24
25
26
27
28
29
Trade payables
Insurance reserves
Nonmarketable securities held by pension plans
Other
238.2
45.4
1094.2
952.0
142.2
260.8
46.4
1183.5
1015.3
168.2
204.6
47.5
1261.6
1077.2
184.4
218.0
47.4
1243.8
1060.6
183.2
227.4
47.6
1249.1
1064.8
184.3
226.8
47.8
1269.6
1081.5
188.1
226.7
48.4
1349.4
1142.9
206.5
242.6
48.5
1335.1
1128.8
206.3
249.3
48.9
1242.0
1042.1
199.9
253.9
49.2
1358.1
1149.3
208.8
255.3
49.7
1438.3
1213.7
224.6
25
26
27
28
29
(1) Student loans.

(2) Corporate equities purchased from financial businesses under the Troubled Asset Relief Program (TARP) and from GSEs at market price.
70
Z.1, March 8, 2012
L.107 Rest of the World

2007
2
3
4
5
6
7
SDR allocations
U.S. checkable deposits and currency
U.S. time deposits
Security RPs (net)
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
15875.4
14994.5
15601.0
15830.8
16050.5
16435.3
17163.2
17612.0
17735.3
17940.5
18044.2
7.7
-56.9
306.1
207.6
46.0
338.4
7.5
362.9
370.1
273.1
69.7
114.9
55.4
69.0
361.0
230.0
76.9
31.0
53.6
19.6
363.9
221.6
75.8
-31.4
52.2
39.4
367.0
225.3
74.7
-123.1
55.0
-24.0
375.2
231.2
72.2
-118.6
54.4
10.2
390.5
247.7
69.8
-98.6
56.0
268.1
409.9
262.5
67.3
-40.8
56.5
184.0
425.7
261.1
64.8
-55.7
55.2
227.8
444.2
274.9
64.1
-107.4
54.2
201.5
466.2
272.6
63.3
-44.9
2
3
4
5
6
7
7272.6
7504.6
7724.2
7852.0
7960.2
8160.4
8375.8
8393.5
8390.6
8555.9
8591.3
Open market paper
278.1
232.9
191.5
194.1
187.4
192.6
192.3
199.3
195.1
199.5
190.7
10
11
12
Treasury securities
Official
Private
2376.4
1736.7
639.8
3253.0
2400.5
852.5
3671.4
2879.6
791.8
3852.9
2977.0
876.0
3966.7
3008.7
958.0
4216.4
3197.7
1018.7
4385.3
3320.7
1064.6
4422.3
3354.2
1068.1
4442.5
3433.8
1008.7
4597.6
3465.1
1132.6
4671.4
3440.8
1230.6
10
11
12
13
14
15

Official
Private
1582.4
954.3
628.0
1406.9
940.5
466.4
1154.8
749.0
405.9
1116.5
733.6
382.9
1128.0
755.3
372.7
1096.1
690.0
406.0
1077.3
669.2
408.1
1054.6
680.3
374.2
1033.1
681.0
352.2
1032.9
667.1
365.8
1021.4
657.3
364.1
13
14
15
16
17
18
U.S. corporate bonds (1)
Loans to U.S. corporate business
45.1
2719.1
271.5
51.0
2353.5
207.3
58.7
2465.3
182.5
62.7
2440.1
185.6
66.8
2413.9
197.4
69.3
2423.0
163.1
71.7
2488.6
160.4
74.2
2480.8
162.3
76.7
2461.3
181.9
79.7
2451.3
195.0
82.7
2422.5
202.6
16
17
18
19
20
21
22
U.S. corporate equities

Mutual fund shares
Trade receivables
Security credit
2812.2
373.5
83.6
0.0
1806.6
256.2
90.1
0.0
2477.2
363.6
96.7
0.0
2673.7
399.9
106.8
0.0
2343.2
396.4
114.4
0.0
2660.3
458.1
111.9
0.0
2926.1
513.8
116.1
0.0
3101.5
569.6
115.9
0.0
3217.6
599.8
117.8
0.0
2702.4
527.2
131.7
0.0
3026.4
556.8
132.4
0.0
19
20
21
22
23
24
25
Foreign direct investment in U.S. (2)
Other
4484.6
2345.9
2138.7
4138.7
2397.4
1741.3
4116.2
2441.7
1674.5
4095.3
2492.9
1602.4
4600.7
2528.7
2072.0
4453.6
2612.6
1841.0
4557.5
2658.9
1898.6
4408.5
2686.7
1721.8
4472.9
2742.9
1730.1
5064.7
2822.9
2241.8
4724.4
2884.0
1840.4
23
24
25
8542.3
8599.1
8790.5
8898.7
9580.7
9162.9
9728.9
9849.0
9958.1
10926.1
10447.8
26
26
Total liabilities
27
28
U.S. official reserve assets (3)

U.S. private deposits
59.5
1340.9
66.6
946.7
119.7
840.6
116.5
841.7
113.5
879.5
122.1
887.9
121.4
912.3
128.3
957.7
132.8
941.7
131.3
933.5
129.6
896.1
27
28
29
2126.3
1708.8
2090.3
2113.0
2106.8
2136.0
2273.1
2325.9
2321.4
2272.0
2239.7
29
413.0
1587.1
342.0
1237.3
401.3
1570.3
387.5
1606.1
378.3
1606.0
378.0
1628.4
398.6
1737.3
428.2
1748.3
417.2
1751.8
352.4
1756.6
344.8
1728.8
30
31
102.8
1.9
30.2
70.8
23.1
0.3
107.9
2.6
33.0
72.4
21.6
0.0
96.8
3.2
27.9
65.8
21.9
0.0
97.2
3.0
30.4
63.8
22.2
0.0
100.6
3.3
33.1
64.3
22.0
0.0
107.7
3.5
34.1
70.0
22.0
0.0
115.1
4.3
39.7
71.2
22.1
0.0
127.1
4.2
45.7
77.1
22.2
0.0
130.5
3.2
49.1
78.2
21.9
0.0
140.9
3.1
53.0
84.8
22.1
0.0
144.3
2.6
51.0
90.7
21.8
0.0
32
33
34
35
36
37
73.1
0.0
63.2
0.0
70.6
0.0
79.7
0.0
84.0
0.0
92.3
0.0
98.4
0.0
95.1
0.0
80.4
0.0
74.5
0.0
65.8
0.0
38
39
4942.4
46.9
24.5
3553.1
1318.0
5813.9
48.3
554.2
3748.5
1462.8
5669.2
50.0
10.9
4067.5
1540.8
5747.8
50.4
0.7
4184.1
1512.6
6396.8
51.8
2.1
4260.2
2082.9
5924.5
52.1
0.9
4345.7
1525.8
6323.8
52.3
0.8
4429.4
1841.2
6342.1
52.9
0.7
4528.1
1760.4
6481.8
54.3
1.0
4673.1
1753.5
7514.8
54.7
1.6
4752.5
2706.0
7116.5
56.1
101.1
4819.8
2139.5
40
41
42
43
44
5248.0
2748.4
3995.3
4103.8
3624.9
4261.3
4485.6
4674.9
4661.8
3713.5
3862.9
45
30
31
Commercial paper
Bonds
32
33
34
35
36
37
Bank loans n.e.c.

Official
Banks
Other
Acceptance liabilities to banks
38
39
Trade payables
Security debt
40
41
42
43
44
U.S. equity in IBRD, etc.
Nonofficial foreign currencies
U.S. direct investment abroad (1,2)
Other
Memo:
45
Market value of foreign equities

held by U.S. residents (4)
(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) Does not include monetary gold.
(4) Includes American Depositary Receipts (ADRs).
71
Z.1, March 8, 2012
L.108 Financial Business (1)

2007
1
2
3
4
5
6

SDR certificates
Treasury currency
Foreign deposits
7
8
9
10

11
12
13
14
15
16
Open market paper

Treasury securities
17
18
19
20
Bank loans n.e.c.

Mortgages
Consumer credit
21
22
Corporate equities
Mutual fund shares
23
24
Trade receivables
Security credit
25
26

27
Total liabilities
28
29
30
31
32

33
34
35
36
Open market paper

37
38
39
Bank loans n.e.c.

Mortgages
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
63695.2
62199.1
63704.7
63342.4
61560.0
63081.5
64318.5
65822.0
66244.5
64218.1
65602.9
34.2
2.2
38.7
127.3
124.4
35.7
2.2
38.7
129.3
1475.9
36.2
5.2
42.7
97.1
1126.4
35.4
5.2
42.7
92.5
1115.6
34.7
5.2
43.2
92.5
1026.0
36.8
5.2
43.4
104.2
983.8
37.0
5.2
43.5
105.9
1019.6
37.2
5.2
43.8
107.5
1459.0
37.9
5.2
44.0
112.2
1650.6
37.4
5.2
44.1
86.7
1647.4
36.8
5.2
44.2
58.5
1622.7
2
3
4
5
6
350.0
461.1
942.5
1029.2
441.0
578.4
1250.3
963.0
411.6
776.4
1066.9
842.0
390.2
714.3
930.6
854.4
419.8
644.7
865.7
833.5
382.9
679.7
870.1
875.5
381.1
676.5
880.7
846.9
387.6
685.0
859.2
893.0
408.9
676.4
848.7
886.8
435.2
606.4
799.3
809.9
427.7
589.6
849.8
802.4
7
8
9
10
36556.6
38905.1
37961.0
37314.1
37075.3
37146.0
37251.3
37448.6
37670.2
37925.3
38278.6
11
1149.5
1835.4
4669.4
1637.6
6553.4
1183.4
2271.3
5527.5
1689.2
6560.6
790.0
2712.0
6185.2
1704.8
6739.2
727.9
2839.2
5798.7
1704.0
6787.8
667.7
2878.1
5770.8
1699.0
6835.1
659.5
3000.7
5734.9
1716.7
7015.7
658.0
3269.1
5710.4
1734.2
6982.3
705.4
3596.2
5716.9
1713.9
7027.1
660.5
3856.1
5735.1
1714.8
7073.0
582.7
4037.9
5836.5
1721.3
7156.3
552.5
4257.9
5908.8
1751.3
7182.0
12
13
14
15
16
2027.3
2210.4
14075.3
2398.3
2721.1
2362.7
14165.9
2423.3
1921.8
1794.3
13878.1
2235.7
1917.0
1695.1
13701.7
2142.8
1881.3
1639.7
13591.6
2112.1
1855.7
1612.1
13475.6
2075.1
1874.1
1582.6
13378.4
2062.3
1872.3
1541.1
13281.7
1993.9
1902.8
1522.4
13204.3
2001.1
1951.5
1503.0
13128.5
2007.4
2006.5
1508.0
13072.7
2038.9
17
18
19
20
13023.9
2633.8
7816.2
1694.1
10052.2
2237.4
10520.9
2363.9
9316.0
2175.8
10388.0
2407.2
11500.0
2595.2
12111.8
2720.1
12056.3
2736.3
10019.0
2416.8
10880.6
2585.2
21
22
197.1
660.0
182.2
385.8
144.2
422.6
139.9
428.8
140.8
460.1
141.2
476.9
135.6
520.5
138.0
554.8
139.3
566.1
136.2
576.0
134.2
560.1
23
24
124.7
7389.5
130.0
8171.1
132.8
8349.8
134.1
8259.9
137.2
8289.5
139.0
8401.3
141.1
8178.3
142.5
8228.8
143.4
8262.1
145.8
8527.5
148.3
8579.1
25
26
60527.2
59305.3
60131.2
59615.0
57917.3
59324.6
60454.2
61887.6
62224.7
60391.5
61656.1
27
88.6
1890.5
1281.5
1194.1
1139.4
1029.3
1091.6
1802.4
1917.9
1979.4
1913.5
28
1532.9
7606.7
3033.1
2159.8
2101.3
7940.9
3757.3
1270.3
2093.4
8316.3
3258.3
1452.4
2067.1
8347.2
2930.7
1461.3
2173.1
8242.7
2760.4
1324.0
2181.2
8376.6
2746.1
1290.6
2359.8
8432.4
2755.3
1227.4
2193.3
8553.3
2679.4
1258.5
2314.6
8714.0
2637.8
1220.8
2403.7
8724.0
2578.4
1067.2
2592.6
8805.6
2642.5
1108.2
29
30
31
32
16218.4
17119.8
15539.6
14764.7
14514.8
14344.9
14141.8
14064.6
13836.3
13721.0
13580.0
33
1251.8
7374.6
6291.0
1125.8
8143.4
6013.5
677.6
8083.3
5722.5
619.8
7633.4
5537.0
567.7
7637.6
5380.7
574.6
7594.1
5319.8
575.9
7574.0
5170.5
592.5
7624.3
5070.8
557.5
7553.3
4982.4
527.3
7560.0
4921.8
508.3
7535.8
4827.3
34
35
36
277.1
867.1
156.7
773.2
900.5
163.5
271.5
617.9
166.9
246.0
561.4
167.1
230.7
530.5
167.6
200.1
488.0
168.3
181.3
473.2
167.1
165.6
442.5
168.9
144.8
424.8
173.5
128.6
408.7
174.5
128.4
405.9
174.3
37
38
39
7829.0
45.8
1200.9
5435.3
21.2
963.6
6961.6
70.1
888.2
7295.0
62.2
912.4
6764.2
52.0
929.1
7401.8
55.1
940.0
7934.5
18.1
936.6
8471.9
18.5
942.3
8570.5
19.3
1011.0
7532.8
16.4
1128.9
7955.9
14.2
1073.9
40
41
42
40
41
42
Mutual fund shares

Trade payables
Security credit
43
44

1156.1
13390.7
1133.4
10408.5
1194.5
11914.5
1202.1
12291.0
1188.1
11610.2
1214.1
12331.9
1229.9
13088.3
1249.3
13483.5
1262.3
13412.8
1269.2
12466.6
1289.3
13160.9
43
44
45
46
Taxes payable
32.4
6232.7
-101.1
7364.4
-95.0
7255.8
-97.7
7184.8
-96.3
7315.7
-88.1
7501.1
-82.0
7320.4
-73.7
7244.3
-75.3
7382.6
-79.6
7583.4
-71.8
7591.3
45
46
4602.2
11.6
2875.4
9.5
3633.2
12.1
3990.8
14.2
3620.4
14.0
3903.7
13.0
4341.1
13.8
4575.1
13.4
4542.8
13.1
3719.2
11.7
4071.9
10.4
47
48
Memo:
47
48
Market value of corporate equities

(1) Sum of financial sectors shown on tables L.109 through L.130.
72
Z.1, March 8, 2012
L.109 Monetary Authority (1)

2007
2008
2363.4
2327.7
2453.2
2656.8
2891.6
2876.7
2947.2
34.7
5.2
43.2
36.8
5.2
43.4
37.0
5.2
43.5
37.2
5.2
43.8
37.9
5.2
44.0
37.4
5.2
44.1
36.8
5.2
44.2
2
3
4
-2.1
-1.6
-1.9
-1.6
-1.4
-1.4
-0.9
-0.8
-0.6
96.6
96.6
0.0
11.5
11.5
0.0
0.7
0.7
0.0
0.3
0.3
0.0
0.2
0.2
0.0
0.1
0.1
0.0
0.1
0.1
0.0
0.1
0.1
0.0
0.2
0.2
0.0
6
7
8
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
986.0
1987.7
2151.8
2187.3
2150.3
2259.2
2479.2
2700.4
2686.1
2635.6
10
0.0
475.9
19.7
0.0
776.6
1068.3
0.0
776.7
1237.7
0.0
777.0
1282.9
0.0
811.7
1232.6
0.0
1021.5
1139.6
0.0
1340.4
1069.7
0.0
1619.5
1025.6
0.0
1664.7
979.2
0.0
1663.4
941.7
11
12
13
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
490.4
0.0
0.0
45.5
29.1
38.9
19.5
24.4
333.0
142.8
47.5
0.0
0.0
29.2
22.2
16.0
18.5
9.4
137.4
47.2
0.0
0.0
29.3
25.4
15.3
17.3
2.9
127.5
42.5
0.0
0.0
29.3
24.7
14.7
16.3
0.0
106.0
29.7
0.0
0.0
28.2
18.9
14.1
15.1
0.0
98.1
24.7
0.0
0.0
25.8
20.0
13.5
14.1
0.0
69.1
19.2
0.0
0.0
24.1
0.0
12.8
12.9
0.0
55.3
12.8
0.0
0.0
21.6
0.0
8.6
12.3
0.0
42.3
11.3
0.0
0.0
13.0
0.0
7.2
10.9
0.0
30.5
9.0
0.0
0.0
4.9
0.0
6.8
9.8
0.0
14
15
16
17
18
19
20
21
22
0.0
40.5
24.0
16.5
0.0
569.8
553.7
16.1
25.1
75.9
10.3
65.6
25.4
68.2
0.0
68.2
25.7
68.6
1.2
67.3
26.1
67.2
0.1
67.1
26.4
83.1
0.1
83.0
0.0
92.8
0.0
92.8
0.0
105.0
0.0
105.0
0.0
104.6
0.5
104.1
0.0
225.8
99.8
126.0
23
24
25
26
932.8
2249.6
2241.6
2312.7
2333.9
2297.4
2426.7
2630.5
2865.1
2850.7
2920.3
27
-1.5
559.7
544.0
15.7
Security RPs
46.5
80.0
740.6
0.0
740.6
0.0
27
Total liabilities
Q4
35.4
5.2
42.7
-0.0

Nonofficial foreign currencies (11)
Other
Q3
2338.7
48.6
48.6
0.0
23
24
25
26
Q2
36.2
5.2
42.7
Federal Reserve loans to domestic banks

Discount window (2)
AMLF (3)
Bank loans n.e.c.

Households (TALF) (4)
Rest of world
Brokers and dealers (5)
Funding corporations (Maiden Lane) (6)
Funding corporations (AIG)
Funding corporations (Maiden Lane II) (7)
Funding corporations (Maiden Lane III)(8)
Funding corporations (CPFF) (9)
Q1
2267.2
14
15
16
17
18
19
20
21
22
Q4
35.7
2.2
38.7
6
7
8
Open market paper

Treasury securities
Q3
2270.6
2011
Q2
34.2
2.2
38.7

SDR certificates
Treasury currency
11
12
13
2010
Q1
951.3
2
3
4
10
2009
28
29
Depository institution reserves

Vault cash of commercial banks
20.8
55.0
860.0
57.7
977.0
54.9
1053.9
51.8
973.5
53.8
934.6
50.5
968.1
52.7
1407.0
53.3
1595.9
55.4
1597.5
50.6
1562.3
60.8
28
29
30
792.1
1220.3
1102.7
1120.5
1207.8
1218.8
1287.8
1078.7
1116.4
1090.8
1165.6
30
16.4
0.3
16.1
0.0
365.7
0.3
106.1
259.3
191.9
0.2
186.6
5.0
216.7
0.2
91.5
125.0
287.8
0.2
87.6
200.0
308.1
0.2
107.9
200.0
340.9
0.2
140.8
200.0
116.4
0.2
111.2
5.0
135.3
0.1
130.1
5.0
56.4
0.1
56.3
0.0
85.9
0.1
85.7
0.0
31
32
33
34
0.1
1.7
773.9
1.4
21.1
832.2
2.4
35.1
873.3
1.7
19.3
882.8
1.2
27.4
891.3
2.5
4.0
904.2
3.4
13.5
930.0
0.1
10.2
952.0
0.4
7.3
973.5
2.6
44.8
987.0
0.2
64.6
1015.0
35
36
37
31
32
33
34
Due to federal government

Treasury cash holdings
Treasury general deposit account
Treasury temporary supplementary financing account
35
36
37
Due to rest of the world

38
Security RPs
44.0
88.4
77.7
57.8
67.2
63.8
59.7
62.2
70.3
84.1
99.9
38
39
40
41
Federal Reserve Bank stock
Other
21.0
18.5
2.5
23.1
21.1
2.1
29.2
25.6
3.6
28.7
26.3
2.5
31.6
26.6
5.0
29.7
26.7
3.0
58.4
26.5
31.9
29.3
26.3
3.0
27.0
26.5
0.5
27.7
26.0
1.7
31.7
26.9
4.8
39
40
41
(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.
(2) Loans extended to domestic banks through term auction credit, primary credit, secondary credit, and seasonal credit.
(3) Loans extended to domestic banks through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
(4) Loans extended to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF).
(5) Loans extended through the Federal Reserves Primary Dealer Credit Facility (PDCF) and the AMLF.
(6) Loan extended by the Federal Reserve to Maiden Lane LLC to facilitate the arrangements associated with JPMorgan Chase & Co.s acquisition of Bear Stearns Companies, Inc.
(7) Loan extended by the Federal Reserve to Maiden Lane II LLC to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of AIG subsidiaries.
(8) Loan extended by the Federal Reserve to Maiden Lane III LLC to purchase CDOs on which AIG has written credit default swap contracts.
(9) Loan extended by the Federal Reserve to Commercial Paper Funding Facility LLC.
(10) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance
Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.
73
Z.1, March 8, 2012
L.110 U.S.-Chartered Commercial Banks

2007
Vault cash and reserves at Federal Reserve
Total bank credit
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
8840.8
10247.7
10044.6
10255.7
10152.4
10088.2
10076.5
10094.5
10262.4
10349.3
10499.6
72.2
635.1
679.5
684.0
651.6
588.5
588.4
708.1
872.9
781.4
803.5
7883.7
8382.9
8306.2
8549.5
8437.3
8467.3
8505.8
8398.9
8401.4
8513.5
8694.2
4
5
6
7
8
9
10
11
Open market paper

Treasury securities
Other
0.0
73.0
928.9
592.8
0.0
142.8
0.0
193.3
15.7
53.4
1068.7
744.9
0.0
157.1
0.0
166.7
0.0
117.7
1224.0
744.3
3.5
217.0
3.9
255.2
0.0
181.6
1219.3
707.2
3.6
261.7
3.6
243.3
0.0
181.2
1213.1
670.8
3.4
285.8
3.4
249.7
0.0
220.2
1259.8
700.6
3.4
312.2
3.5
240.1
0.0
211.6
1310.8
729.6
3.3
334.3
3.6
240.0
0.0
210.0
1341.9
739.3
3.7
353.3
4.7
240.9
0.0
177.7
1340.0
728.8
4.3
380.9
5.2
220.8
0.0
187.0
1360.0
744.6
6.7
400.2
9.2
199.3
0.0
169.6
1415.2
796.4
7.5
398.6
12.9
199.8
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Priv. residential mortgage pass-through securities
Priv. commercial mortgage pass-through securities
Priv. residential CMOs and other structured MBS
Priv. commercial CMOs and other structured MBS
Other
190.9
572.4
48.2
0.0
223.7
0.0
300.5
214.1
542.0
23.8
0.0
222.2
0.0
296.0
215.1
582.6
13.8
17.7
170.5
25.9
354.7
216.2
523.2
11.8
17.0
140.7
25.5
328.2
218.4
499.5
5.0
12.0
128.1
24.8
329.6
226.4
499.3
4.7
11.4
117.4
24.5
341.3
243.5
474.9
4.4
11.3
106.0
24.6
328.7
249.0
461.1
11.0
9.1
98.9
20.0
322.2
256.2
456.2
5.1
9.2
92.8
19.9
329.2
272.8
476.2
4.2
9.3
91.0
24.8
347.0
285.9
484.1
2.9
8.9
90.2
26.9
355.2
12
13
14
15
16
17
18
19
20
21
22
Bank loans n.e.c.

Mortgages
Consumer credit
Security credit
1532.9
3564.6
804.1
145.9
1670.8
3754.7
878.6
158.6
1338.4
3738.6
855.3
158.0
1340.2
3681.9
1149.2
160.0
1332.3
3634.1
1133.7
164.5
1328.6
3603.0
1115.2
144.1
1350.7
3580.1
1098.7
152.3
1354.6
3482.3
1058.9
152.1
1390.6
3455.0
1072.3
163.2
1443.0
3448.8
1073.8
186.9
1509.7
3462.2
1100.6
189.8
19
20
21
22
23
24
Corporate equities
Mutual fund shares
41.5
29.6
6.7
19.6
30.3
46.1
34.7
43.2
21.8
38.7
29.5
41.2
38.2
45.0
42.0
47.1
45.1
45.0
28.4
36.6
35.4
41.7
23
24
104.3
0.0
780.5
110.7
0.0
1118.9
111.5
0.0
947.4
112.1
0.0
910.2
112.8
0.0
950.7
114.4
0.0
918.0
116.0
0.0
866.4
117.3
0.0
870.1
118.4
0.0
869.7
119.3
0.0
935.1
120.8
0.0
881.1
25
26
27
8434.3
9818.3
9786.5
9949.0
9947.3
9955.0
9882.5
9930.5
10054.9
10180.2
10305.6
28
25
26
27
28

Total liabilities
29
30
31
32
33

Borrowing from Federal Reserve banks
To domestic banks
To foreign banks
502.0
-0.0
48.6
-24.9
478.3
1291.0
-1.5
559.7
88.5
644.4
672.2
-2.1
96.6
27.4
550.3
441.5
-1.6
11.5
-26.4
458.0
442.9
-1.9
0.7
-1.5
445.7
422.7
-1.6
0.3
-29.4
453.3
420.9
-1.4
0.2
-39.2
461.3
431.8
-1.4
0.1
-14.2
447.3
259.7
-0.9
0.1
-99.4
359.9
167.6
-0.8
0.1
-89.0
257.3
71.9
-0.6
0.2
-100.1
172.4
29
30
31
32
33
34
35
36
37
Checkable deposits
Federal government
Rest of the world
Private domestic
560.2
42.9
31.7
485.5
700.9
3.5
62.9
634.6
781.9
3.8
34.3
743.8
735.4
4.1
35.3
696.0
754.7
3.2
37.1
714.4
750.1
3.6
32.1
714.3
852.2
3.6
30.4
818.1
887.5
3.6
41.9
841.9
971.3
3.7
41.4
926.2
1062.8
3.0
45.6
1014.3
1166.2
1.0
50.0
1115.2
34
35
36
37
38
39
40

Large time deposits
4025.9
991.1
611.4
4566.2
1015.6
352.4
4949.1
841.7
624.0
5056.5
789.9
667.3
5047.9
770.5
603.7
5128.1
749.9
538.6
5225.9
691.6
409.5
5303.9
663.0
393.0
5469.5
656.6
375.6
5629.6
631.5
333.0
5760.9
638.0
315.6
38
39
40
41
42
43
44
Open market paper

Corporate bonds
Taxes payable (net)
0.0
174.4
455.2
11.1
0.0
182.4
526.3
-74.6
0.0
174.1
402.0
-67.5
132.5
417.3
357.0
-73.6
135.8
415.0
327.6
-64.6
129.2
421.7
289.0
-64.8
112.9
434.1
277.9
-60.6
109.2
431.3
256.4
-56.4
109.0
430.5
243.7
-51.2
109.9
427.2
228.7
-47.9
120.6
413.3
235.0
-50.5
41
42
43
44
45
46
47
Investment by bank holding companies
Other
1103.1
1197.8
-94.7
1258.1
1244.4
13.6
1409.2
1413.5
-4.4
1425.2
1408.5
16.7
1513.7
1431.6
82.1
1590.5
1452.4
138.1
1518.2
1366.8
151.4
1510.8
1358.8
152.0
1590.3
1399.6
190.6
1637.7
1428.9
208.9
1634.6
1426.3
208.2
45
46
47
7666.8
11.2
8197.9
9.5
8071.7
6.9
8311.6
7.5
8212.3
6.4
8252.6
6.1
8270.4
6.2
8157.7
6.1
8148.1
6.1
8261.6
6.2
8427.3
6.0
48
49
Memo:
48
49

(1) Included in other loans and advances (table L.216).

(2) Total bank credit (line 3) less security credit (line 22) less corporate equities (line 23) less mutual fund shares (line 24) plus customers liability on acceptances (line 26).
The leased automobile is a nonfinancial asset.
74
Z.1, March 8, 2012
L.111 Foreign Banking Offices in U.S. (1)

2007
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
1048.0
1624.8
1267.5
1306.7
1367.8
1493.0
1336.8
1668.0
1793.1
2078.8
1999.4
1.0
239.0
284.1
331.4
299.1
315.0
350.8
640.8
677.5
762.5
711.0
1151.4
1126.1
839.5
839.5
839.2
980.7
837.2
844.6
863.6
941.6
916.6
Open market paper

Treasury securities
0.0
30.4
57.1
0.0
369.5
0.0
35.5
50.6
0.0
401.6
0.0
57.5
31.3
0.0
244.9
0.0
58.0
30.8
0.0
236.6
0.0
54.7
30.0
0.0
252.4
0.0
67.5
29.5
0.0
362.5
0.0
60.9
26.5
0.0
233.9
0.0
66.1
31.4
0.0
220.6
0.0
63.6
30.6
0.0
229.5
0.0
58.1
32.2
0.0
255.7
0.0
60.5
30.6
0.0
234.5
4
5
6
7
8
9
10
11
Bank loans n.e.c.

Mortgages
Security credit
466.8
39.0
188.6
531.9
44.2
62.3
406.5
37.8
61.6
403.9
37.9
72.3
387.3
36.2
78.6
386.7
35.3
99.2
390.4
35.4
90.1
405.7
33.8
86.9
416.7
33.0
90.1
424.7
33.7
137.2
426.6
32.8
131.7
9
10
11
12
Corporate equities
0.0
0.0
0.0
0.0
0.0
0.0
0.1
0.0
0.0
0.0
0.0
12
0.5
-104.9
0.0
259.7
0.0
143.9
0.0
135.8
0.0
229.5
0.0
197.2
0.0
148.7
0.0
182.6
0.0
252.0
0.0
374.8
0.0
371.8
13
14
1067.5
1639.6
1283.7
1322.5
1383.3
1510.4
1354.1
1688.9
1813.6
2100.8
2021.3
15
-404.1
-424.6
20.5
-163.7
-179.9
16.2
-322.5
-356.2
33.7
-257.5
-305.5
48.0
-251.1
-307.4
56.3
-305.9
-359.0
53.1
-274.4
-315.4
41.0
-16.7
-57.4
40.6
42.4
10.4
32.1
203.8
166.3
37.4
219.1
191.2
27.9
16
17
18
Total bank credit
4
5
6
7
8
13
14
15

Total liabilities
16
17
18

To foreign banks
To domestic banks
19
20
21
Checkable deposits
Large time deposits
11.8
25.5
907.9
13.5
25.6
784.7
16.1
29.9
958.6
16.4
30.2
904.7
16.4
31.6
836.6
18.5
50.8
886.5
21.9
35.7
909.0
20.7
42.6
937.1
23.2
47.4
945.4
38.2
50.9
804.6
45.6
48.9
736.6
19
20
21
22
23

Acceptance liabilities
226.3
0.5
130.0
0.0
170.3
0.0
195.3
0.0
216.1
0.0
231.7
0.0
223.2
0.0
224.4
0.0
212.7
0.0
265.6
0.0
273.4
0.0
22
23
24
25
26
27
Due to affiliates
Other
299.6
94.2
241.0
-35.6
849.4
71.7
276.6
501.1
431.3
104.9
203.1
123.2
433.4
108.3
189.2
135.9
533.8
110.6
150.4
272.8
628.8
113.1
177.1
338.6
438.7
111.3
171.6
155.9
480.7
115.2
188.9
176.6
542.4
118.6
173.4
250.3
737.6
125.0
140.1
472.5
697.7
131.6
137.8
428.3
24
25
26
27
963.3
1063.8
778.0
767.2
760.5
881.5
747.1
757.6
773.4
804.4
784.9
28
Memo:
28
(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).
(2) Included in other loans and advances (table L.216).
(3) Total bank credit (line 3) less security credit (line 11) less corporate equities (line 12) plus customers liability on acceptances (line 13).
75
Z.1, March 8, 2012
L.112 Bank Holding Companies

2007
1
2
3
4
5
6
7
8
9
10
11
12

Treasury securities
Bank loans n.e.c.
Investment in bank subsidiaries
Investment in nonbank subsidiaries
Other
Total liabilities
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
1882.8
2078.7
2876.9
2852.8
2874.8
2972.4
2838.8
2890.5
2898.9
2904.0
2895.1
59.1
73.0
75.8
79.1
63.0
108.1
97.9
105.7
105.3
110.5
100.7
7.1
9.9
35.9
6.3
3.1
25.8
35.8
8.2
5.8
24.3
31.1
14.6
5.8
22.6
33.6
17.1
5.0
22.1
17.4
18.5
17.2
30.1
42.2
18.6
19.6
21.1
38.3
18.9
16.1
22.2
40.5
26.9
9.0
31.5
40.6
24.2
20.4
43.2
22.0
24.8
26.8
33.1
18.3
22.6
3
4
5
6
20.5
1803.2
1197.8
344.4
261.0
19.3
1986.4
1244.4
386.4
355.5
21.4
2779.7
1413.5
909.0
457.2
22.0
2751.7
1408.5
907.6
435.7
24.3
2787.4
1431.6
910.6
445.3
24.7
2839.6
1452.4
936.6
450.6
25.1
2715.8
1366.8
893.4
455.5
25.1
2759.7
1358.8
900.2
500.7
25.0
2768.6
1399.6
855.4
513.6
26.5
2767.1
1428.9
829.1
509.1
27.6
2766.8
1426.3
841.8
498.7
7
8
9
10
11
876.7
985.4
1489.8
1469.5
1445.4
1505.8
1436.0
1453.1
1439.1
1406.6
1390.9
12
-85.1
25.5
-110.6
-154.6
-53.0
-101.5
-100.0
25.0
-125.1
-95.6
37.3
-132.9
-79.7
19.2
-98.9
-72.6
45.7
-118.3
-75.7
60.0
-135.6
-73.0
48.9
-121.9
-35.7
150.6
-186.2
-40.1
155.8
-195.9
-0.6
161.5
-162.1
13
14
15
0.8
0.4
-47.7
-51.4
-59.0
-67.3
-49.5
-57.6
-60.4
-51.5
-49.3
16
13
14
15

To domestic banks
To foreign banks
16
17
18
19

Commercial paper
Corporate bonds
632.7
116.7
516.0
716.6
77.7
638.9
1089.5
60.8
1028.7
1070.7
74.0
996.7
1041.1
63.7
977.3
1092.2
64.4
1027.8
1046.9
64.7
982.2
1058.0
73.6
984.4
1011.3
76.9
934.3
984.4
71.7
912.7
964.0
75.9
888.2
17
18
19
20
328.3
422.9
548.0
545.8
543.0
553.6
514.2
525.6
523.9
513.8
476.6
20
L.113 Banks in U.S.-Affiliated Areas (1)

1
107.5
105.2
98.8
95.1
90.9
86.6
83.2
82.6
81.5
85.2
80.4
2.6
3.2
4.2
3.9
5.4
5.3
3.3
4.1
4.4
4.9
4.6
92.8
90.9
88.1
83.8
72.2
69.3
68.9
67.6
65.2
63.7
64.0
Treasury securities
1.8
26.3
2.0
0.5
1.2
24.4
2.5
0.5
0.5
20.5
3.5
2.0
0.9
18.4
3.1
1.4
1.3
16.2
2.0
0.5
1.1
13.0
2.7
0.5
1.1
12.8
2.5
0.6
1.1
6.9
2.8
5.9
1.6
6.0
2.5
5.2
0.9
5.4
2.8
4.5
1.0
4.8
3.4
4.2
4
5
6
7
Bank loans n.e.c.

Home mortgages
21.4
21.5
19.3
19.7
22.9
19.7
19.4
22.6
19.6
18.4
22.3
19.3
15.7
20.8
15.7
15.9
20.5
15.6
16.1
20.1
15.7
16.0
18.8
16.1
16.0
18.2
15.7
16.6
17.9
15.4
17.1
17.8
15.6
8
9
10
12.1
11.1
6.5
7.5
13.3
12.1
11.0
10.9
11.9
16.7
11.8
11
94.4
91.0
90.0
86.9
82.1
78.0
75.2
74.7
73.6
76.5
72.1
12
4
5
6
7
8
9
10
11
12
Total liabilities
13
14
15
Checkable deposits
Large time deposits
15.7
26.3
26.3
14.6
27.4
27.4
16.1
24.5
24.5
16.2
24.2
24.2
16.7
19.6
19.6
16.9
19.8
19.8
16.6
19.3
19.3
17.1
19.4
19.4
18.1
19.2
19.2
18.0
19.2
19.2
19.4
18.9
18.9
13
14
15
16
26.2
21.7
25.0
22.2
26.1
21.6
20.0
18.8
17.2
20.2
14.8
16
(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.
76
Z.1, March 8, 2012
L.114 Savings Institutions (1)

2007
2
3
4
5

2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
1815.0
1523.5
1253.7
1262.2
1244.8
1244.3
1244.1
1250.0
1228.1
1240.4
1238.6
2.6
20.0
9.9
45.6
39.0
8.7
8.3
34.7
45.5
4.5
15.3
12.0
55.3
0.8
19.1
9.5
49.9
5.2
18.2
7.8
46.4
7.7
17.7
7.0
44.8
2.2
15.3
5.4
56.6
3.6
21.1
4.5
50.8
4.9
19.1
5.5
62.5
1.6
22.4
6.8
62.5
0.1
21.2
7.7
2
3
4
5
1596.1
1320.0
1070.4
1073.0
1061.7
1067.2
1081.0
1064.8
1049.3
1048.4
1049.4
7
8
9
10
11
12
13
14
Open market paper

Treasury securities
Other
0.0
7.0
177.4
104.2
0.0
31.3
0.0
41.8
0.0
3.0
173.8
106.1
0.0
36.9
0.0
30.8
0.0
6.8
193.4
93.2
0.0
47.0
0.0
53.2
0.0
7.1
202.6
95.0
0.0
50.9
0.0
56.7
0.0
6.7
199.8
95.5
0.0
47.2
0.0
56.9
0.0
6.0
203.8
98.0
0.0
52.1
0.0
53.6
0.0
5.9
216.4
105.7
0.0
59.2
0.0
51.5
0.0
6.0
219.9
101.0
0.1
64.5
0.0
54.2
0.0
5.6
219.6
98.3
0.5
69.2
0.3
51.2
0.0
4.7
216.6
100.0
0.6
72.0
0.3
43.7
0.0
4.2
218.2
102.4
0.7
74.9
0.5
39.8
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
Priv. residential mortgage pass-through securities
Priv. commercial mortgage pass-through securities
Priv. residential CMOs and other structured MBS
Priv. commercial CMOs and other structured MBS
Other
11.0
142.2
6.5
0.0
105.2
0.0
30.4
7.8
108.5
5.2
0.0
63.4
0.0
39.9
9.2
84.5
2.5
0.1
32.4
0.1
49.4
9.6
81.1
2.6
0.1
30.1
0.1
48.2
10.1
80.9
2.5
0.1
29.8
0.1
48.4
10.2
76.1
2.2
0.1
27.4
0.1
46.2
11.1
73.9
2.1
0.1
26.3
0.1
45.3
10.9
70.9
1.9
0.0
24.9
0.1
43.9
11.1
68.9
1.7
0.0
24.0
0.1
43.2
11.1
68.4
1.6
0.0
22.7
0.1
43.9
11.2
67.8
0.6
0.0
20.3
0.5
46.5
15
16
17
18
19
20
21
22
23
24

Mortgages
Consumer credit
73.7
1094.0
90.8
80.1
860.6
86.3
65.6
633.3
77.5
65.3
629.3
78.0
64.4
619.3
80.6
71.1
617.8
82.1
72.0
614.8
86.8
72.2
600.2
84.7
65.8
590.9
87.4
69.0
589.4
89.3
69.7
586.2
92.0
22
23
24
25.3
115.5
22.7
90.0
22.2
83.8
21.8
82.7
21.7
80.4
19.5
78.9
19.7
75.8
21.9
77.6
21.8
76.7
20.2
78.4
21.5
76.2
25
26
1649.2
1395.7
1124.4
1126.7
1107.0
1105.9
1105.4
1109.0
1086.2
1098.3
1094.2
27
1104.6
79.4
638.1
387.1
948.6
76.6
578.5
293.5
895.3
89.7
667.9
137.7
905.6
90.1
674.8
140.7
899.3
89.2
665.9
144.2
901.5
88.4
661.9
151.3
909.2
88.9
662.7
157.6
927.9
90.5
676.2
161.2
912.5
88.5
661.2
162.9
926.1
91.7
663.7
170.7
932.3
93.4
663.4
175.6
28
29
30
31
17.6
17.6
53.6
53.9
50.2
49.2
47.6
38.2
37.0
35.4
34.7
32
25
26
27
Corporate equities
Total liabilities
28
29
30
31
Deposits
Checkable
Large time
32
Security RPs
33
34
35
36

Corporate bonds
Bank loans n.e.c.
423.3
10.4
62.0
350.9
356.1
2.4
75.0
278.7
152.3
2.3
11.0
139.1
143.3
3.2
11.3
128.8
136.2
3.0
8.8
124.4
133.8
2.8
10.9
120.2
127.4
2.7
9.8
114.9
121.0
2.2
11.2
107.6
116.2
2.2
11.5
102.5
113.2
2.2
11.0
100.0
103.4
2.4
11.0
90.0
33
34
35
36
37
38
39
40
Taxes payable
Other
1.3
102.4
10.9
91.5
1.0
72.3
13.4
58.9
1.3
21.8
24.0
-2.2
1.6
22.4
24.0
-1.6
1.1
20.3
23.7
-3.4
1.0
20.5
24.3
-3.8
1.0
20.2
23.0
-2.8
1.5
20.5
23.2
-2.8
0.9
19.6
22.7
-3.1
1.0
22.7
22.4
0.3
1.3
22.5
21.7
0.8
37
38
39
40
(1) State-chartered savings banks, federal savings banks, cooperative banks, and savings and loan associations.
77
Z.1, March 8, 2012
L.115 Credit Unions

2007
2
3
4
5

7
8
9
10
Open market paper

Treasury securities
11
12
13

Home mortgages
Consumer credit
14
15
16
Mutual fund shares

Total liabilities
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
758.7
812.4
882.7
895.7
901.9
905.7
912.0
937.0
940.2
948.9
960.7
0.0
43.3
17.0
2.5
4.7
37.6
28.3
-2.3
22.8
39.1
37.8
0.1
35.0
37.2
41.0
0.1
26.7
39.9
42.6
0.1
35.2
36.8
43.1
0.0
36.9
32.8
43.4
0.0
54.7
28.2
44.3
0.0
50.2
29.8
44.7
18.8
41.8
44.8
44.6
10.9
46.1
45.0
45.6
14.4
2
3
4
5
657.9
697.9
731.0
737.3
750.2
741.1
755.5
765.4
774.3
781.6
795.0
0.4
10.4
68.4
34.6
0.0
8.8
82.9
25.7
0.0
14.2
110.8
18.6
0.0
15.9
123.5
18.5
0.0
17.2
133.6
18.4
0.0
10.8
136.3
11.5
0.0
20.0
151.6
3.7
0.0
21.8
166.6
3.7
0.0
21.9
170.9
3.8
0.0
22.5
173.4
3.6
0.0
24.2
180.4
4.1
7
8
9
10
26.9
281.5
235.7
29.6
314.7
236.2
32.3
317.9
237.2
31.3
320.1
228.0
32.5
322.6
225.8
33.2
324.4
224.9
33.1
320.8
226.5
31.5
323.5
218.1
32.9
324.0
220.9
34.3
323.8
223.9
32.8
330.4
223.0
11
12
13
2.1
35.9
2.0
44.2
1.3
50.6
1.6
43.5
1.6
40.8
1.6
47.9
1.5
41.9
1.7
42.8
1.8
20.5
1.8
23.4
1.8
13.0
14
15
688.2
742.7
815.3
827.2
832.0
834.8
840.9
864.6
864.8
872.0
882.7
16
17
18
19
20
Shares/deposits
Checkable
Large time
652.3
73.7
508.7
69.9
697.4
75.3
551.7
70.4
769.4
86.9
655.1
27.3
790.4
88.5
673.7
28.2
795.0
88.2
678.4
28.4
797.2
88.5
679.3
29.4
803.8
92.4
681.3
30.1
829.3
98.7
699.4
31.2
829.8
97.1
701.4
31.3
836.8
102.1
702.3
32.4
846.7
102.5
710.7
33.6
17
18
19
20
21
22

32.3
3.6
40.6
4.7
26.5
19.4
25.4
11.4
25.0
12.0
25.2
12.4
26.1
11.0
23.7
11.6
22.8
12.2
23.7
11.5
24.1
11.9
21
22
L.116 Property-Casualty Insurance Companies

1
2
3
4

Security RPs
6
7
8
9
10
11
1385.8
1305.5
1384.5
1385.5
1368.7
1394.3
1404.4
1414.2
1411.6
1382.0
1397.6
42.7
20.7
3.6
27.9
32.8
4.4
27.6
29.6
4.5
28.3
25.3
8.3
37.1
24.6
6.1
39.3
27.9
5.9
32.6
25.6
3.8
33.8
27.7
3.5
35.6
26.1
2.3
25.7
23.6
2.0
21.9
24.1
1.8
2
3
4
869.3
853.4
886.7
886.8
887.2
892.2
890.6
895.7
890.8
891.0
884.6
Open market paper

Treasury securities
13.3
71.3
125.8
19.1
65.6
114.3
9.8
88.5
116.2
11.1
87.1
116.1
10.4
87.7
116.0
11.8
90.4
115.9
7.9
91.7
115.8
8.5
93.3
116.2
8.0
92.0
115.7
5.3
90.9
116.3
5.4
90.5
115.4
6
7
8
371.3
282.9
4.8
381.9
267.5
5.0
369.4
298.3
4.4
364.0
304.2
4.3
358.7
310.2
4.2
353.5
316.4
4.2
348.4
322.6
4.1
349.7
323.8
4.1
348.2
322.5
4.3
349.9
324.1
4.6
347.1
321.5
4.7
9
10
11
12
13
Corporate equities
Mutual fund shares
236.2
6.8
193.3
4.4
219.8
5.3
216.7
5.4
193.4
5.0
204.8
5.4
219.2
5.7
222.7
5.8
220.2
5.8
203.4
5.2
226.8
5.5
12
13
14
15
Trade receivables
85.4
121.1
86.7
102.6
83.0
128.0
84.8
129.9
86.7
128.6
87.1
131.8
83.8
143.1
84.4
140.6
88.2
142.6
88.7
142.5
86.7
146.3
14
15
818.6
792.3
817.4
819.0
821.5
829.4
836.0
838.4
844.9
845.7
837.0
16
0.5
7.0
811.1
2.4
-21.1
811.0
0.6
-15.8
832.6
0.5
-12.6
831.2
0.6
-19.1
839.9
0.5
-15.7
844.6
1.5
-10.1
844.6
0.6
-7.9
845.8
0.6
-13.1
857.4
0.5
-19.4
864.6
0.4
-14.1
850.7
17
18
19
16
17
18
19
Total liabilities
Security RPs
Taxes payable (net)
78
Z.1, March 8, 2012
L.117 Life Insurance Companies

2007
2
3
4

Security RPs
6
7
8
9
10
11
12
Open market paper

Treasury securities
Mortgages
13
14
Corporate equities
Mutual fund shares
15
16
Total liabilities
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
4949.7
4515.5
4823.9
4914.0
4872.1
5048.1
5176.3
5276.4
5320.2
5232.6
5342.3
58.3
21.6
2.7
82.8
39.2
8.0
50.7
33.7
10.2
47.7
29.8
11.3
57.8
26.5
11.0
59.5
23.6
11.0
51.7
21.0
10.9
47.3
19.7
9.7
48.7
17.9
8.8
58.9
17.0
10.8
55.0
16.5
10.7
2
3
4
2871.2
2882.8
3022.6
3042.6
3083.7
3134.3
3174.2
3215.3
3243.5
3298.8
3327.3
41.7
70.6
382.9
38.3
105.7
366.2
49.8
133.5
371.9
35.7
138.6
372.8
39.3
144.2
373.8
46.0
150.2
374.8
40.9
156.6
376.0
39.9
153.6
386.1
38.0
154.1
389.7
42.1
162.8
395.0
40.9
161.9
398.9
6
7
8
41.4
1862.6
145.8
326.2
47.1
1817.0
166.1
342.4
73.1
1927.2
140.9
326.1
81.3
1952.8
140.0
321.4
90.5
1978.0
140.1
317.9
100.8
2003.5
140.8
318.2
112.3
2030.2
140.7
317.5
115.1
2062.1
140.1
318.4
116.1
2080.5
141.9
323.1
117.7
2109.3
142.7
329.2
118.9
2130.4
143.1
333.2
9
10
11
12
1464.6
188.4
1001.7
121.0
1208.5
140.8
1275.8
144.8
1169.4
134.3
1286.6
144.1
1402.6
155.7
1484.8
158.7
1487.8
158.5
1355.6
142.9
1459.3
147.3
13
14
342.9
380.1
357.6
361.9
389.4
389.0
360.3
341.0
355.0
348.7
326.2
15
4661.7
4266.5
4532.5
4611.0
4567.5
4723.5
4850.8
4957.6
4985.0
4897.3
5006.3
16
17
18
19
20
Security RPs
Pension fund reserves (1)
20.2
28.7
1156.1
2450.8
12.9
54.9
1133.4
2184.6
12.4
48.3
1194.5
2323.0
9.2
45.6
1202.1
2371.5
9.8
45.6
1188.1
2305.3
11.0
45.3
1214.1
2406.1
10.3
45.1
1229.9
2504.7
9.5
45.5
1249.3
2565.6
10.0
46.2
1262.3
2586.6
9.7
46.4
1269.2
2513.1
10.4
46.9
1289.3
2568.0
17
18
19
20
21
22
Taxes payable (net)

-4.7
1010.6
-24.4
905.0
-31.4
985.6
-30.0
1012.6
-30.6
1049.3
-27.7
1074.7
-28.8
1089.8
-27.9
1115.5
-29.1
1109.1
-30.3
1089.2
-23.6
1115.4
21
22
(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 22).
L.118 Private Pension Funds (1)

1
6410.6
4552.7
5471.0
5708.6
5315.9
5728.5
6097.8
6327.1
6332.3
5717.9
6080.8
11.8
67.7
93.5
25.8
12.3
67.9
95.7
33.1
16.4
72.7
96.4
36.2
18.9
73.7
96.4
36.3
21.9
74.9
96.4
31.3
24.6
75.7
96.3
36.8
28.0
77.1
96.3
37.1
31.3
78.0
96.2
37.3
34.6
79.0
96.2
33.0
37.5
80.2
96.1
34.0
40.5
81.5
96.1
33.5
2
3
4
5
860.8
951.4
1063.0
1090.0
1114.3
1138.7
1171.0
1190.7
1217.2
1245.0
1272.9
Open market paper

Treasury securities
26.9
169.5
296.8
37.2
184.9
318.1
26.7
310.7
269.1
21.7
341.6
259.6
18.2
407.4
210.9
17.1
466.9
170.2
15.0
486.7
170.9
14.8
500.0
165.4
14.4
521.9
163.4
13.8
545.3
160.7
13.2
567.8
157.7
7
8
9

Mortgages
357.4
10.2
400.1
11.1
442.9
13.6
452.5
14.6
462.1
15.7
469.2
15.2
483.5
15.0
496.3
14.2
504.1
13.4
512.7
12.5
520.9
13.2
10
11
2673.3
2110.6
1599.7
1366.0
1835.7
1817.3
1918.2
1929.6
1673.9
1784.0
1832.6
1980.2
2012.4
2126.6
2100.1
2234.5
2063.3
2254.9
1714.3
2007.1
1877.9
2141.7
12
13
2
3
4
5

Security RPs
7
8
9
10
11
12
13
Corporate equities
Mutual fund shares
14
15
16
17
Other
567.1
431.3
47.2
88.6
426.5
317.6
47.9
61.0
533.3
412.8
50.5
70.0
545.5
429.9
49.9
65.7
519.2
408.0
49.6
61.6
543.5
433.8
49.4
60.4
549.4
457.5
49.2
42.8
559.1
471.7
49.0
38.4
554.1
471.0
49.0
34.1
503.7
420.9
49.1
33.7
536.8
450.8
49.4
36.6
14
15
16
17
18
6444.8
4588.0
5507.4
5745.0
5352.4
5765.0
6134.3
6363.6
6368.8
5754.4
6117.3
18
(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).
(3) Equal to the value of nonfinancial and financial assets. These liabilities are assets of the household sector.
79
Z.1, March 8, 2012
L.119 State and Local Government Employee Retirement Funds

2007
2
3
4
5

Security RPs
7
8
9
10
11
12
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
3198.8
2324.5
2673.7
2771.7
2554.4
2726.8
2931.5
3034.2
3013.2
2661.1
2847.0
17.9
0.7
12.4
21.7
17.8
0.7
14.3
23.5
17.7
0.7
14.3
23.5
17.8
0.7
14.4
23.6
17.5
0.7
14.2
23.2
17.2
0.7
13.9
22.8
17.3
0.7
13.9
22.8
18.1
0.7
14.7
24.0
17.9
0.7
14.5
23.7
18.6
0.8
15.0
24.6
18.6
0.8
15.0
24.6
2
3
4
5
820.3
833.5
824.7
823.7
819.3
815.8
816.5
825.0
820.5
835.6
832.5
Open market paper

Treasury securities
38.4
141.6
331.1
25.9
146.4
337.5
24.0
174.5
306.9
24.1
179.1
301.0
22.7
182.0
292.3
22.3
185.5
285.1
22.4
185.6
285.2
23.5
187.9
288.7
23.2
186.9
287.2
24.1
189.0
290.4
24.1
188.3
289.3
7
8
9
Mortgages
2.4
297.0
9.7
1.4
312.9
9.4
1.5
308.6
9.3
1.5
308.7
9.4
1.5
311.5
9.3
1.6
311.9
9.4
1.6
312.4
9.4
1.6
314.1
9.2
1.6
312.4
9.2
1.5
321.2
9.3
1.5
320.0
9.3
10
11
12
2013.7
296.4
1237.9
181.1
1549.8
226.7
1636.0
239.3
1450.8
212.2
1604.6
234.8
1782.5
260.8
1861.9
272.4
1848.2
270.4
1525.4
223.2
1690.1
247.3
13
14
15.7
15.7
16.2
16.3
16.5
16.9
17.0
17.3
17.3
18.0
18.2
15
3297.9
2414.7
2759.8
2856.7
2641.4
2815.4
3024.0
3131.3
3116.3
2771.4
2965.8
16
13
14
Corporate equities
Mutual fund shares
15
16
2008
(1) Equal to the value of nonfinancial and financial assets. These liabilities are assets of the household sector.
L.120 Federal Government Retirement Funds (1)

1
2
3
4
5
6
7
8

Treasury securities
Corporate equities
Miscellaneous assets (2)
1197.2
1221.2
1324.4
1317.7
1311.0
1345.5
1425.3
1423.1
1341.1
1427.6
1509.7
96.1
120.3
127.7
129.4
133.6
138.3
138.7
142.2
146.1
154.2
158.0
88.0
5.0
3.0
112.3
5.1
2.9
119.1
5.6
3.0
120.6
5.8
3.0
124.5
6.0
3.1
128.2
6.6
3.5
129.2
6.3
3.2
132.9
6.2
3.1
136.3
6.5
3.2
144.0
6.8
3.4
147.2
7.1
3.7
3
4
5
149.1
952.0
85.6
1015.3
119.4
1077.2
127.8
1060.6
112.6
1064.8
125.6
1081.5
143.7
1142.9
152.1
1128.8
152.9
1042.1
124.1
1149.3
138.0
1213.7
6
7
1197.2
1221.2
1324.4
1317.7
1311.0
1345.5
1425.3
1423.1
1341.1
1427.6
1509.7
(1) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and nonmarketable government securities held by federal government retirement funds.
(3) Liabilities of the sector are assets of the household sector.
80
Z.1, March 8, 2012
L.121 Money Market Mutual Funds (1)

2007
2
3
4
5
Foreign deposits
Security RPs
7
8
9
10
11
12
13
Open market paper

Treasury securities
Total shares outstanding (liabilities)
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
3033.1
3757.3
3258.3
2930.7
2760.4
2746.1
2755.3
2679.4
2637.8
2578.4
2642.5
127.3
1.9
270.6
605.9
129.3
7.5
355.2
542.4
97.1
17.9
573.2
479.9
92.5
5.3
510.8
438.9
92.5
7.7
436.2
462.6
104.2
15.5
473.9
493.3
105.9
14.2
468.0
479.4
107.5
14.0
469.9
439.2
112.2
20.7
462.3
457.6
86.7
18.8
397.8
479.7
58.5
19.1
380.1
484.0
2
3
4
5
1936.4
2675.0
2031.0
1828.5
1703.3
1599.5
1621.0
1583.7
1521.0
1527.2
1628.2
674.6
178.1
235.9
471.0
376.8
618.5
577.7
756.2
494.6
228.0
510.5
406.4
543.0
401.3
169.9
445.6
371.5
465.5
370.0
176.0
382.9
348.9
450.4
352.0
169.1
382.8
308.1
414.8
333.0
160.8
394.2
335.4
402.8
334.4
154.2
398.1
337.7
373.4
320.7
153.7
361.1
341.5
359.4
305.8
153.2
349.5
373.5
384.1
292.0
128.1
355.1
443.3
403.7
296.5
129.6
7
8
9
10
11
90.9
47.9
59.1
54.8
58.1
59.8
66.9
65.2
64.0
68.3
72.7
12
3033.1
3757.3
3258.3
2930.7
2760.4
2746.1
2755.3
2679.4
2637.8
2578.4
2642.5
13
8471.9
8570.5
7532.8
7955.9
(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)

1
Security RPs
4
5
6
7
8
9
10
11
12
Open market paper

Treasury securities
Corporate equities
7829.0
5435.3
6961.6
7295.0
6764.2
7401.8
7934.5
132.2
124.7
153.3
150.1
127.6
134.9
137.5
218.5
221.8
126.7
115.1
2203.1
2276.4
2657.2
2784.9
2834.3
2971.1
3031.4
3160.9
3267.8
3317.9
3453.0
114.1
179.2
565.4
372.2
889.9
82.4
51.6
187.9
592.7
389.6
959.9
94.8
80.2
255.5
639.1
480.2
1126.8
75.4
77.4
269.9
684.3
501.5
1178.1
73.7
55.9
278.3
710.7
514.2
1200.9
74.3
63.3
294.3
760.8
532.8
1244.0
75.9
66.3
297.4
791.1
526.6
1275.4
74.6
144.0
298.2
793.4
515.1
1321.6
88.6
147.2
306.4
819.1
520.1
1378.0
97.0
55.7
329.1
890.3
526.9
1419.9
96.0
45.7
349.8
955.3
542.8
1463.4
96.0
4
5
6
7
8
9
5476.9
16.8
3014.1
20.0
4136.2
14.9
4351.8
8.3
3799.5
2.8
4299.9
-4.1
4762.7
2.9
5087.0
5.5
5067.4
13.4
4073.8
14.4
4373.5
14.4
10
11
7829.0
5435.3
6961.6
7295.0
6764.2
7401.8
7934.5
8471.9
8570.5
7532.8
7955.9
12
(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.117).
L.123 Closed-End and Exchange-Traded Funds

Closed-end funds
1
2
3
4
5
6
7

Treasury securities
Corporate equities
315.8
201.2
225.5
230.0
221.1
233.3
239.5
245.3
246.2
235.7
237.1
170.9
5.6
91.3
74.0
144.9
129.9
3.2
77.9
48.7
71.3
139.5
4.3
81.2
54.0
86.0
142.5
5.0
81.9
55.6
87.6
140.6
4.8
82.2
53.6
80.5
142.8
4.9
82.6
55.3
90.6
144.4
5.1
81.3
58.1
95.1
146.6
5.2
80.7
60.7
98.7
147.2
5.2
82.0
60.1
99.0
142.4
4.8
80.1
57.5
93.3
143.3
4.7
82.4
56.2
93.8
2
3
4
5
6
315.8
201.2
225.5
230.0
221.1
233.3
239.5
245.3
246.2
235.7
237.1
607.7
530.9
772.9
800.5
767.1
874.9
986.5
1046.9
1068.2
943.1
1034.9
34.0
19.7
0.6
13.8
573.7
57.0
27.0
2.3
27.7
473.9
102.9
41.7
5.9
55.3
669.9
113.2
46.3
6.5
60.4
687.2
124.6
51.9
7.3
65.5
642.5
133.4
51.7
7.8
73.9
741.5
132.6
51.0
7.6
74.0
853.9
138.0
52.8
7.5
77.8
908.9
148.9
56.7
7.7
84.5
919.3
160.4
61.1
7.8
91.4
782.8
171.4
62.4
8.6
100.4
863.5
9
10
11
12
13
607.7
530.9
772.9
800.5
767.1
874.9
986.5
1046.9
1068.2
943.1
1034.9
14
8
9
10
11
12
13
14

Treasury securities
Corporate equities
81
Z.1, March 8, 2012
L.124 Government-Sponsored Enterprises (GSEs) (1)

2007
2
3
4

2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
3174.3
3407.9
3047.3
7003.5
6900.8
6764.6
6721.1
6687.1
6562.0
6520.1
6466.9
13.7
46.6
142.7
88.3
68.5
114.5
99.4
25.7
122.1
99.0
21.2
176.4
99.1
23.7
163.8
47.3
22.1
163.8
63.4
26.1
150.0
70.4
23.7
156.3
62.3
23.1
115.1
63.7
11.7
114.3
62.4
13.4
110.4
2
3
4
2829.5
3037.5
2699.7
6577.4
6494.1
6385.1
6333.1
6327.9
6252.4
6176.5
6133.7
Open market paper

Treasury securities
27.7
15.5
702.9
6.8
16.8
910.0
9.7
21.9
924.5
8.6
60.1
417.0
10.4
72.2
387.7
8.6
69.5
375.1
9.9
55.2
377.0
9.5
58.5
373.9
9.3
63.3
368.2
9.2
68.5
368.1
6.5
75.2
364.6
6
7
8
9
10
33.3
464.4
31.3
386.6
29.1
310.8
28.0
324.8
27.2
313.0
26.2
308.3
24.9
293.9
23.8
284.7
22.9
270.0
22.0
264.3
21.4
258.0
9
10
11
12
13
14

Sallie Mae
Farm Credit System
FHLB
942.6
0.0
75.5
867.1
980.7
0.0
80.3
900.5
695.9
0.0
80.0
615.9
634.5
0.0
77.7
556.8
599.1
0.0
76.5
522.6
561.6
0.0
81.9
479.7
551.3
0.0
87.3
464.0
522.8
0.0
89.6
433.2
500.2
0.0
85.1
415.1
479.8
0.0
81.0
398.9
479.8
0.0
83.8
396.0
11
12
13
14
15
16
17
18
19
20
21
22
23
Mortgages
Home
Other
Other
Farm
Consumer credit (3)
643.1
447.9
0.0
447.9
147.7
0.0
147.7
47.6
0.0
705.3
456.6
0.0
456.6
190.2
0.0
190.2
58.5
0.0
707.7
445.4
0.0
445.4
204.4
0.0
204.4
57.9
0.0
5104.4
4795.6
4386.4
409.2
249.7
58.9
190.8
59.1
0.0
5084.4
4774.8
4238.7
536.1
249.2
60.0
189.2
60.4
0.0
5035.8
4722.8
4177.2
545.6
251.3
63.0
188.3
61.6
0.0
5021.0
4701.5
4141.0
560.5
256.5
75.4
181.1
63.0
0.0
5054.6
4735.8
4170.5
565.3
256.1
81.4
174.7
62.7
0.0
5018.4
4701.4
4146.4
555.0
254.6
87.3
167.3
62.4
0.0
4964.6
4646.2
4085.3
561.0
256.4
92.6
163.7
62.0
0.0
4928.2
4608.4
4047.6
560.8
258.3
99.9
158.4
61.5
0.0
15
16
17
18
19
20
21
22
23
6
7
8
24
25
Total liabilities
26
27
28
29
30

GSE issues (4)
Other
31
141.7
99.1
100.3
129.5
120.1
146.4
148.6
108.8
109.2
154.0
147.0
24
3081.3
3390.2
2977.0
6875.6
6762.9
6635.4
6589.1
6577.8
6455.0
6413.5
6371.7
25
2910.2
2910.2
0.0
2910.2
0.0
3181.9
3181.9
0.0
3181.9
0.0
2706.6
2706.6
0.0
2706.6
0.0
6653.3
6653.3
4445.3
2207.9
0.0
6591.1
6591.1
4298.7
2292.4
0.0
6498.1
6498.1
4240.3
2257.8
0.0
6434.5
6434.5
4216.4
2218.1
0.0
6437.3
6437.3
4251.8
2185.5
0.0
6317.3
6317.3
4233.7
2083.6
0.0
6282.7
6282.7
4177.9
2104.8
0.0
6233.7
6233.7
4147.5
2086.3
0.0
26
27
28
29
30
171.1
208.2
270.4
222.3
171.8
137.3
154.6
140.5
137.7
130.7
138.0
31
(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing Association
(Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table L.125) are consolidated on Fannie Maes and
Freddie Macs balance sheets.
(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.
(3) Sallie Mae student loans.
L.125 Agency- and GSE-Backed Mortgage Pools (1)

1
4464.4
4961.4
5376.7
980.2
1046.5
1096.0
1139.5
1187.0
1236.0
1277.3
1302.1
2
3
4
5

Home mortgages
Farm mortgages
4371.8
88.1
0.0
4.5
4864.0
92.8
0.0
4.7
5266.5
105.7
0.0
4.5
920.7
56.1
0.0
3.3
982.5
60.1
0.0
3.8
1028.5
63.7
0.0
3.8
1068.8
66.9
0.0
3.8
1112.5
71.3
0.0
3.2
1155.7
77.1
0.0
3.2
1194.5
81.1
0.0
1.7
1216.9
83.5
0.0
1.7
2
3
4
5
Total pool securities (liabilities)(2)
4464.4
4961.4
5376.7
980.2
1046.5
1096.0
1139.5
1187.0
1236.0
1277.3
1302.1
(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools are consolidated on Fannie
Maes and Freddie Macs balance sheets (table L.124). Also includes agency- and GSE-backed mortgage pool securities which are used as collateral for agency- and GSE-backed 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.
82
Z.1, March 8, 2012
L.126 Issuers of Asset-Backed Securities (ABS)

2007
2
3
4
Treasury securities
5
6
7
8
Mortgages (2)
Home
Commercial
9
10
11
12
13
14
15
16
Consumer credit
Trade credit
Total liabilities
Commercial paper
Corporate bonds (net) (3)
Memo:
Securitized assets not included above
Consumer leases (4)
REIT assets (5)
Securitized liabilities not included above
Commercial paper (6)
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
4541.5
4133.8
3290.2
2693.8
2561.5
2446.9
2337.0
2249.3
2191.1
2125.4
2067.0
85.8
376.5
341.9
72.2
349.5
379.8
53.9
120.3
252.2
49.7
85.3
229.6
46.2
48.7
219.1
42.6
24.3
214.3
40.1
13.4
201.0
35.9
11.0
180.6
36.3
10.0
190.3
31.4
9.0
188.6
29.2
8.0
188.4
2
3
4
2942.0
2184.4
124.0
633.6
2590.4
1872.5
113.2
604.7
2224.7
1554.0
107.4
563.3
2123.4
1463.5
106.5
553.5
2048.7
1402.2
104.8
541.8
1975.0
1343.1
102.7
529.2
1898.9
1281.9
98.7
518.3
1845.9
1227.6
98.0
520.2
1784.6
1178.9
95.4
510.3
1732.8
1132.6
93.5
506.6
1677.1
1087.9
91.1
498.1
5
6
7
8
683.7
111.7
646.4
95.5
577.9
61.3
150.7
55.1
144.8
54.1
136.6
54.2
131.7
51.8
122.4
53.6
118.7
51.1
116.1
47.5
116.9
47.5
9
10
4544.7
4136.5
3292.6
2696.1
2563.6
2449.0
2339.0
2251.2
2192.9
2127.2
2068.8
11
643.1
3901.5
559.3
3577.3
293.1
2999.5
126.4
2569.6
112.2
2451.5
119.4
2329.6
120.2
2218.8
128.3
2123.0
116.2
2076.8
108.5
2018.7
95.8
1973.0
12
13
3.1
92.1
2.7
45.4
2.3
20.1
2.3
23.5
2.2
22.5
2.1
21.9
2.0
20.5
2.0
21.2
1.9
20.9
1.8
21.8
1.7
21.6
14
15
0.0
0.0
0.0
132.5
135.8
129.2
112.9
109.2
109.0
109.9
120.6
16
(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.
(2) Mortgages backing privately issued pool securities and privately issued CMOs.
(3) Liabilities net of assets.
The leased automobile is a nonfinancial asset.
(5) Included in table L.128.
(6) Included in table L.110 line 41.
L.127 Finance Companies (1)

1
2
3

5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21

Mortgages
Consumer credit
Total liabilities
Open market paper
Corporate bonds
Bank loans n.e.c.
Taxes payable
Other
Memo:
(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table L.126.
1911.2
1851.7
1662.5
1665.8
1642.9
1613.4
1590.0
1581.1
1555.9
1562.9
1548.4
16.2
48.6
16.5
49.4
17.0
51.0
15.9
47.6
16.1
48.4
15.5
46.6
15.3
45.9
15.7
47.2
15.8
47.4
16.3
48.9
15.7
47.2
2
3
1828.2
1755.9
1532.6
1556.9
1526.1
1504.8
1482.8
1464.6
1435.3
1434.1
1427.2
189.4
523.0
531.9
584.1
192.4
539.9
447.9
575.8
198.6
448.9
397.4
487.8
185.6
447.5
386.9
536.9
188.7
439.2
371.1
527.2
181.6
445.7
361.2
516.3
179.0
441.0
344.2
518.6
184.1
439.7
331.0
509.8
184.9
429.1
319.5
501.8
190.5
428.1
311.2
504.3
183.8
433.8
303.2
506.3
5
6
7
8
18.2
30.0
61.9
45.3
52.2
46.5
46.0
53.5
57.3
63.6
58.3
1949.6
1880.5
1630.3
1631.7
1599.0
1558.0
1536.7
1512.4
1487.2
1498.8
1484.1
10
1279.6
1200.3
1044.1
1048.1
1017.7
974.9
962.1
949.6
917.4
918.1
918.0
11
123.5
974.1
182.0
0.0
100.9
924.5
174.9
0.0
62.1
837.5
144.5
0.0
64.0
858.2
125.9
0.0
63.1
834.6
120.0
0.0
56.8
823.0
95.0
0.0
63.8
818.7
79.6
0.0
65.4
796.0
88.2
0.0
61.0
781.3
75.2
0.0
57.3
794.6
66.2
0.0
61.6
777.4
79.0
0.0
12
13
14
15
15.5
654.4
68.6
321.4
264.4
15.4
664.8
78.1
313.0
273.7
12.7
573.6
75.0
280.5
218.1
12.6
571.0
75.3
277.3
218.3
12.6
568.7
75.7
273.5
219.4
12.8
570.4
77.3
272.5
220.6
12.9
561.7
83.6
264.6
213.5
12.8
550.0
84.7
257.5
207.7
12.8
556.9
87.6
268.1
201.3
13.3
567.4
87.1
267.4
212.9
12.9
553.2
88.9
267.7
196.7
16
17
18
19
20
122.9
111.1
85.4
80.7
77.2
74.8
72.7
73.3
73.8
74.9
77.9
21
83
Z.1, March 8, 2012
L.128 Real Estate Investment Trusts (REITs)

2007
4
5

6
7
8
9
Mortgages
Home
Commercial
10
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
318.5
250.6
241.2
246.9
258.4
276.1
283.0
346.6
391.0
418.5
415.0
16.6
18.4
26.3
25.2
26.0
24.6
23.5
29.0
25.8
29.3
30.0
246.5
177.6
168.9
173.1
177.8
192.7
206.0
258.0
301.9
324.2
320.7
88.9
34.4
89.6
11.7
105.1
15.5
109.1
17.5
114.7
18.1
128.7
20.1
143.3
20.8
190.7
24.6
216.9
26.2
239.1
27.1
237.0
27.0
4
5
123.1
80.7
5.2
37.3
76.3
34.3
4.3
37.7
48.3
12.6
2.3
33.4
46.4
11.0
2.1
33.3
45.0
8.9
2.1
34.0
43.9
8.7
2.0
33.2
41.9
8.9
1.9
31.2
42.7
9.0
1.8
31.9
58.8
22.6
1.8
34.5
58.0
24.0
1.7
32.4
56.7
23.0
1.7
32.0
6
7
8
9
55.4
54.6
46.1
48.6
54.5
58.8
53.5
59.6
63.3
65.0
64.3
10
11
Total liabilities
580.5
511.6
458.8
472.4
479.6
494.9
501.7
557.4
605.3
638.3
634.8
11
12
Security RPs
91.7
79.4
90.4
88.9
94.4
102.0
120.5
160.9
187.1
210.8
210.0
12
13
421.2
367.4
317.4
318.5
316.4
325.3
315.2
326.4
345.3
351.8
346.3
13
0.0
231.3
33.2
156.7
0.0
171.0
32.8
163.5
0.0
129.8
20.7
166.9
0.0
132.9
18.5
167.1
0.0
131.8
17.0
167.6
0.0
139.1
17.9
168.3
0.0
129.7
18.5
167.1
0.0
141.3
16.2
168.9
0.0
156.2
15.6
173.5
0.0
156.9
20.4
174.5
0.0
155.0
17.0
174.3
14
15
16
17
67.6
64.9
51.1
65.0
68.9
67.6
66.0
70.1
72.9
75.6
78.5
18
92.1
0.0
72.4
0.4
19.3
45.4
0.0
31.8
0.4
13.2
20.1
0.0
6.1
0.4
13.7
23.5
0.0
7.4
0.4
15.7
22.5
0.0
7.4
0.4
14.7
21.9
0.0
7.2
0.4
14.3
20.5
0.0
7.2
0.4
13.0
21.2
0.0
7.3
0.4
13.5
20.9
0.0
7.4
0.3
13.1
21.8
0.0
8.6
0.3
12.8
21.6
0.0
8.5
0.3
12.7
19
20
21
22
23
14
15
16
17
18
19
20
21
22
23
2008
Open market paper

Corporate bonds
Bank loans n.e.c.
Mortgages
Memo:
Securitized assets included above
Home mortgages
84
Z.1, March 8, 2012
L.129 Security Brokers and Dealers

2007
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
3092.0
2217.2
2084.2
2092.0
1977.9
2025.7
2075.1
2101.8
2128.3
1980.6
1953.5
105.0
120.1
90.7
90.2
86.1
89.5
96.9
92.1
108.4
115.3
114.8
3
4
5
6
7
8
9

Open market paper
Treasury securities
803.1
87.1
-60.0
290.2
50.1
382.8
52.8
717.4
65.7
190.6
242.6
38.7
123.8
55.9
525.3
41.5
123.0
110.9
35.4
154.4
60.1
544.9
38.5
123.6
127.5
40.3
162.8
52.1
529.1
33.1
87.1
161.9
35.0
161.9
50.1
539.7
34.2
73.8
173.5
39.2
170.3
48.7
557.5
36.2
94.5
149.8
40.0
189.5
47.4
556.8
39.6
78.5
153.2
37.0
201.5
46.9
549.6
42.2
56.6
174.7
40.6
188.8
46.7
511.2
40.4
79.3
166.7
36.6
141.9
46.2
567.2
42.1
187.8
147.8
31.5
111.9
46.2
3
4
5
6
7
8
9
224.8
325.5
1633.7
109.2
164.8
1105.7
124.2
203.0
1141.0
112.4
196.4
1148.1
98.4
217.0
1047.3
100.6
233.7
1062.2
117.2
278.2
1025.3
131.7
315.7
1005.5
131.3
312.8
1026.2
97.8
251.9
1004.5
100.9
238.5
932.0
10
11
12
3019.4
2158.1
1987.8
1989.7
1875.1
1935.8
1990.2
2014.1
2043.2
1905.2
1891.6
13
1147.3
586.9
470.9
440.0
340.9
361.1
404.7
427.1
387.9
179.5
213.1
14
64.8
64.8
0.0
142.6
97.1
45.5
92.9
92.9
0.0
92.3
92.3
0.0
100.9
100.9
0.0
96.1
96.1
0.0
129.7
129.7
0.0
128.2
128.2
0.0
110.1
110.1
0.0
99.2
99.2
0.0
91.8
91.8
0.0
15
16
17
45.8
1200.9
866.4
145.9
188.6
2.2
21.2
963.6
742.7
158.6
62.3
2.5
70.1
888.2
668.6
158.0
61.6
5.7
62.2
912.4
680.0
160.0
72.3
4.4
52.0
929.1
686.0
164.5
78.6
4.4
55.1
940.0
696.8
144.1
99.2
6.4
18.1
936.6
694.3
152.3
90.1
3.6
18.5
942.3
703.3
152.1
86.9
4.2
19.3
1011.0
757.7
163.2
90.1
4.3
16.4
1128.9
804.9
186.9
137.2
3.7
14.2
1073.9
752.3
189.8
131.7
2.1
18
19
20
21
22
23
558.4
62.6
560.4
-64.6
441.4
72.1
626.1
-256.8
460.1
74.5
1158.5
-773.0
478.5
75.7
1181.5
-778.6
447.8
76.9
1175.8
-804.8
477.1
87.7
1214.2
-824.9
497.5
103.0
1142.8
-748.2
493.7
104.7
1182.2
-793.1
510.6
108.6
1150.1
-748.1
477.5
112.6
1133.0
-768.1
496.5
115.9
1158.2
-777.6
24
25
26
27
10
11
12
13
2008
Corporate equities
Security credit
Total liabilities
14
Security RPs (net)
15
16
17

Corporate bonds
18
19
20
21
22
23
Trade payables
Security credit
Taxes payable
24
25
26
27
Due to affiliates
Other
(1) Loans extended through the Federal Reserves Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
L.130 Funding Corporations (1)

1
1861.7
2869.6
2415.5
2299.6
2241.2
2241.7
2277.0
2171.2
2143.2
2138.6
2181.1
2
3

Security RPs
794.3
0.0
1068.3
0.0
893.0
0.1
764.8
0.1
704.1
0.1
708.4
0.1
724.0
0.1
700.9
0.1
694.1
0.1
647.6
0.1
698.2
0.1
2
3
316.0
1007.7
770.9
797.6
846.0
799.0
846.8
762.8
735.9
795.3
780.1
125.2
170.0
20.8
304.6
667.3
35.9
37.8
710.2
22.9
65.2
711.4
21.0
94.8
730.4
20.8
73.4
704.9
20.8
65.2
760.1
21.4
27.6
716.5
18.7
17.1
700.4
18.4
42.6
734.5
18.3
19.5
742.4
18.2
5
6
7
0.0
751.5
241.0
510.5
0.0
793.5
276.6
516.9
25.1
726.3
203.1
523.2
25.4
711.7
189.2
522.5
25.7
665.2
150.4
514.8
26.1
708.0
177.1
531.0
26.4
679.8
171.6
508.2
0.0
707.4
188.9
518.5
0.0
713.1
173.4
539.7
0.0
695.5
140.1
555.4
0.0
702.6
137.8
564.8
8
9
10
11
1861.7
2869.6
2415.5
2299.6
2241.2
2241.7
2277.0
2171.2
2143.2
2138.6
2181.1
12
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
Open market paper

Investment in foreign banking offices
Investment in brokers and dealers
Total liabilities
Open market paper
Corporate bonds
Securities loaned (net)
Equity interest under PPIP
Other (net)
786.4
1252.8
816.8
784.6
752.3
769.2
751.4
739.8
737.7
731.2
711.9
13
367.9
418.5
0.0
0.0
388.0
419.9
444.9
0.0
261.7
457.8
95.3
2.0
222.9
466.8
90.2
4.7
193.0
466.6
85.0
7.8
204.8
479.8
76.3
8.3
214.3
454.6
73.4
9.2
216.0
464.5
49.9
9.3
194.4
491.1
42.5
9.7
180.0
510.4
31.0
9.8
154.4
526.2
21.5
9.8
14
15
16
17
1075.3
9.6
1240.2
0.0
-174.5
1616.7
10.2
887.0
0.0
719.5
1598.7
10.8
856.8
1.8
729.3
1515.1
11.0
849.2
4.2
650.7
1488.8
11.1
765.6
6.2
706.0
1472.5
11.3
773.5
7.1
680.6
1525.5
11.4
733.4
7.7
773.1
1431.4
11.6
709.6
7.8
702.5
1405.5
11.7
727.8
8.3
657.7
1407.3
11.9
727.0
8.7
659.8
1469.2
12.0
658.4
8.8
790.1
18
19
20
21
22
(1) Funding subsidiaries, nonbank financial holding companies, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities,
and funds associated with the Public-Private Investment Program (PPIP).
(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.
(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).
(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) and to funds associated with PPIP.
85
Z.1, March 8, 2012
L.200 U.S. Official Reserve Assets and SDR Allocations (1)

2007
Total liabilities
Federal government: SDR allocations
3
4
5
6
Rest of the world

SDR holdings
Total assets
8
9
10
11
12
Federal government
Monetary gold (2)
SDR holdings
13
Rest of the world: SDR allocations
14
15
16
17
Monetary authority
Monetary gold (2)
18
Discrepancy: monetary gold
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
67.3
74.2
175.1
170.1
165.7
177.0
175.8
184.3
189.3
186.4
183.8
7.7
7.5
55.4
53.6
52.2
55.0
54.4
56.0
56.5
55.2
54.2
59.5
9.5
4.2
45.8
66.6
9.3
7.7
49.6
119.7
57.8
11.4
50.5
116.5
56.0
11.6
48.9
113.5
54.6
11.4
47.6
122.1
57.4
12.9
51.7
121.4
56.8
12.5
52.1
128.3
56.5
19.3
52.4
132.8
57.2
21.7
53.8
131.3
55.9
22.7
52.8
129.6
55.0
22.8
51.9
3
4
5
6
78.3
85.2
186.1
181.1
176.7
188.1
186.8
195.3
200.4
197.5
194.9
36.4
0.0
9.5
4.4
22.5
41.9
0.0
9.3
7.8
24.8
94.6
0.0
57.8
11.5
25.2
92.2
0.0
56.0
11.7
24.4
89.8
0.0
54.6
11.5
23.8
96.3
0.0
57.4
13.1
25.8
95.4
0.0
56.8
12.6
26.0
102.1
0.0
56.5
19.5
26.1
105.9
0.0
57.2
21.9
26.8
105.0
0.0
55.9
22.8
26.3
103.9
0.0
55.0
23.0
25.8
8
9
10
11
12
7.7
7.5
55.4
53.6
52.2
55.0
54.4
56.0
56.5
55.2
54.2
13
34.2
11.0
-0.1
23.3
35.7
11.0
-0.1
24.8
36.2
11.0
-0.1
25.3
35.4
11.0
-0.1
24.5
34.7
11.0
-0.1
23.8
36.8
11.0
-0.1
25.9
37.0
11.0
-0.1
26.1
37.2
11.0
-0.2
26.3
37.9
11.0
-0.2
27.0
37.4
11.0
-0.1
26.5
36.8
11.0
-0.3
26.0
14
15
16
17
-11.0
-11.0
-11.0
-11.0
-11.0
-11.0
-11.0
-11.0
-11.0
-11.0
-11.0
18
(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.
(2) By international accounting standards, monetary gold is a financial asset for which there is no corresponding liability.
L.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

SDR certificates:
1
2

2.2
2.2
2.2
2.2
5.2
5.2
5.2
5.2
5.2
5.2
5.2
5.2
5.2
5.2
5.2
5.2
5.2
5.2
5.2
5.2
5.2
5.2
1
2
Treasury currency:
3
4

27.4
38.7
26.6
38.7
26.2
42.7
26.2
42.7
26.2
43.2
25.9
43.4
25.9
43.5
25.9
43.8
25.9
44.0
25.9
44.1
25.9
44.2
3
4
Discrepancy (seigniorage)
-11.3
-12.1
-16.5
-16.5
-17.0
-17.5
-17.6
-17.9
-18.0
-18.2
-18.3
L.202 U.S. Deposits in Foreign Countries

1
2
3
4
5
Total rest of the world liability

Held by:
Household sector
1340.9
946.7
840.6
841.7
879.5
887.9
912.3
957.7
941.7
933.5
896.1
80.5
50.3
127.3
56.9
24.7
129.3
50.5
31.5
97.1
50.6
38.6
92.5
52.8
49.4
92.5
53.3
59.8
104.2
54.8
72.0
105.9
57.5
79.0
107.5
56.6
84.2
112.2
56.1
89.4
86.7
53.2
94.0
58.5
2
3
4
1082.9
735.8
661.4
660.1
684.8
670.6
679.6
713.6
688.7
701.3
690.3
86
Z.1, March 8, 2012
L.203 Net Interbank Transactions

2007
1
2
3
4
5
6
7
8
9
10
11
12
13

Monetary authority
Rest of the world
Monetary authority
Credit unions
Discrepancy
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
88.6
1890.5
1281.5
1194.1
1139.4
1029.3
1091.6
1802.4
1917.9
1979.4
1913.5
75.8
502.0
-404.1
-85.1
917.7
1291.0
-163.7
-154.6
1031.9
672.2
-322.5
-100.0
1105.7
441.5
-257.5
-95.6
1027.3
442.9
-251.1
-79.7
985.1
422.7
-305.9
-72.6
1020.8
420.9
-274.4
-75.7
1460.3
431.8
-16.7
-73.0
1651.4
259.7
42.4
-35.7
1648.1
167.6
203.8
-40.1
1623.1
71.9
219.1
-0.6
2
3
4
5
67.5
1838.9
1195.4
1135.2
1065.4
959.8
1029.8
1727.1
1834.6
1875.2
1824.1
-56.9
48.6
72.2
1.0
2.6
0.0
362.9
558.2
635.1
239.0
39.0
4.7
69.0
94.5
679.5
284.1
45.5
22.8
19.6
9.9
684.0
331.4
55.3
35.0
39.4
-1.3
651.6
299.1
49.9
26.7
-24.0
-1.3
588.5
315.0
46.4
35.2
10.2
-1.2
588.4
350.8
44.8
36.9
268.1
-1.3
708.1
640.8
56.6
54.7
184.0
-0.8
872.9
677.5
50.8
50.2
227.8
-0.7
781.4
762.5
62.5
41.8
201.5
-0.4
803.5
711.0
62.5
46.1
7
8
9
10
11
12
21.1
51.7
86.1
58.9
74.0
69.4
61.8
75.3
83.3
104.2
89.4
13
55.0
55.0
57.7
57.7
54.9
54.9
51.8
51.8
53.8
53.8
50.5
50.5
52.7
52.7
53.3
53.3
55.4
55.4
50.6
50.6
60.8
60.8
14
15
20.8
17.2
1.0
2.6
0.0
860.0
577.4
239.0
39.0
4.7
977.0
624.6
284.1
45.5
22.8
1053.9
632.2
331.4
55.3
35.0
973.5
597.8
299.1
49.9
26.7
934.6
537.9
315.0
46.4
35.2
968.1
535.7
350.8
44.8
36.9
1407.0
654.8
640.8
56.6
54.7
1595.9
817.4
677.5
50.8
50.2
1597.5
730.8
762.5
62.5
41.8
1562.3
742.7
711.0
62.5
46.1
16
17
18
19
20
48.6
-0.0
48.6
48.6
558.2
-1.5
559.7
558.2
94.5
-2.1
96.6
94.5
9.9
-1.6
11.5
9.9
-1.3
-1.9
0.7
-1.3
-1.3
-1.6
0.3
-1.3
-1.2
-1.4
0.2
-1.2
-1.3
-1.4
0.1
-1.3
-0.8
-0.9
0.1
-0.8
-0.7
-0.8
0.1
-0.7
-0.4
-0.6
0.2
-0.4
21
22
23
24
496.2
650.7
154.5
668.8
782.2
113.3
559.6
760.8
201.3
469.5
762.5
292.9
461.0
780.5
319.5
466.7
781.3
314.6
476.2
783.5
307.3
462.2
772.8
310.6
374.5
657.5
282.9
272.6
657.3
384.7
185.8
565.3
379.4
25
26
27
Memo:
Vault cash:
14
15

Depository institution reserves:
16
17
18
19
20

Credit unions
Other transactions with the monetary authority
21
22
23
24
Liab: U.S.-chartered commercial banks

Loans to member banks
Transactions with banks in foreign countries (net):
25
26
27
Liab.: U.S.-chartered commercial banks (net)

28
29
30

-424.0
529.0
953.0
-179.6
536.4
716.1
-350.9
538.9
889.8
-298.0
577.5
875.5
-299.8
576.5
876.3
-349.1
600.1
949.2
-306.9
635.6
942.5
-47.3
809.9
857.1
19.0
790.6
771.6
175.5
822.7
647.2
198.2
825.6
627.5
28
29
30
31
32
33

-110.6
51.6
162.2
-101.5
143.6
245.1
-125.1
127.9
253.0
-132.9
119.5
252.3
-98.9
138.1
237.0
-118.3
122.0
240.3
-135.6
120.4
256.0
-121.9
139.7
261.6
-186.2
93.8
280.1
-195.9
94.3
290.2
-162.1
79.9
242.0
31
32
33
34
35
36
Less: Deposits at foreign banks

18.6
17.9
0.7
24.7
24.5
0.3
14.6
9.3
5.4
19.1
11.6
7.5
22.9
15.3
7.6
23.3
13.4
9.9
23.4
14.9
8.5
25.0
14.9
10.1
23.3
14.7
8.6
24.5
15.3
9.2
20.4
13.4
7.0
34
35
36
-56.9
362.9
69.0
19.6
39.4
-24.0
10.2
268.1
184.0
227.8
201.5
37
-24.9
135.1
113.2
0.8
88.5
118.2
65.8
0.7
27.4
141.0
43.6
11.2
-26.4
111.1
40.1
12.1
-1.5
122.6
41.6
7.0
-29.4
120.5
42.9
8.2
-39.2
113.7
41.9
10.0
-14.2
138.2
51.4
11.5
-99.4
145.2
47.9
14.0
-89.0
164.2
45.6
14.3
-100.1
143.3
41.9
12.0
38
39
40
41
160.1
133.7
26.4
29.8
82.1
-52.3
113.6
77.4
36.3
137.5
88.1
49.4
124.1
97.9
26.3
149.9
96.0
53.9
152.9
82.9
69.9
152.4
92.0
60.4
244.6
80.0
164.6
253.2
83.0
170.2
243.4
69.8
173.5
42
43
44
21.1
51.7
86.1
58.9
74.0
69.4
61.8
75.3
83.3
104.2
89.4
45
37
Asset: Rest of the world (1)

Transactions between U.S. banks (net) (2):
38
39
40
41
42
43
44
45

Due to (3):
- Due from:
Unallocated (2)
(1) Sum of lines 25, 28, and 31 less line 34.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 12 above. However, the unallocated amount (line 45), which is due to inconsistencies
in source data, appears on line 13 as the discrepancy between liabilities and assets.
(3) Sum of lines 40, 41, and 45.
87
Z.1, March 8, 2012
L.204 Checkable Deposits and Currency

2007
2008
2009
2010
Q1
2011
Q3
Q4
Q1
Q2
Q3
Q4
1532.9
2101.3
2093.4
2067.1
2173.1
2181.2
2359.8
2193.3
2314.6
2403.7
2592.6
Monetary authority
Federal government cash and deposits
792.1
16.4
1.7
0.1
773.9
1220.3
365.7
21.1
1.4
832.2
1102.7
191.9
35.1
2.4
873.3
1120.5
216.7
19.3
1.7
882.8
1207.8
287.8
27.4
1.2
891.3
1218.8
308.1
4.0
2.5
904.2
1287.8
340.9
13.5
3.4
930.0
1078.7
116.4
10.2
0.1
952.0
1116.4
135.3
7.3
0.4
973.5
1090.8
56.4
44.8
2.6
987.0
1165.6
85.9
64.6
0.2
1015.0
2
3
4
5
6
7
8
9
10

Federal government deposits
560.2
42.9
31.7
485.5
700.9
3.5
62.9
634.6
781.9
3.8
34.3
743.8
735.4
4.1
35.3
696.0
754.7
3.2
37.1
714.4
750.1
3.6
32.1
714.3
852.2
3.6
30.4
818.1
887.5
3.6
41.9
841.9
971.3
3.7
41.4
926.2
1062.8
3.0
45.6
1014.3
1166.2
1.0
50.0
1115.2
7
8
9
10
11
12
13

11.8
2.3
9.5
13.5
4.7
8.8
16.1
10.5
5.6
16.4
10.9
5.5
16.4
10.5
5.9
18.5
11.9
6.6
21.9
14.6
7.3
20.7
13.2
7.6
23.2
15.3
7.9
38.2
17.8
20.5
45.6
19.0
26.6
11
12
13
14
15
16

Credit unions
15.7
79.4
73.7
14.6
76.6
75.3
16.1
89.7
86.9
16.2
90.1
88.5
16.7
89.2
88.2
16.9
88.4
88.5
16.6
88.9
92.4
17.1
90.5
98.7
18.1
88.5
97.1
18.0
91.7
102.1
19.4
93.4
102.5
14
15
16
1532.9
2101.3
2093.4
2067.1
2173.1
2181.2
2359.8
2193.3
2314.6
2403.7
2592.6
17
2
3
4
5
6
17
Total liabilities
Q2
Total assets
18
Household sector
90.3
292.0
330.3
237.4
198.2
156.1
185.3
161.5
163.6
229.9
304.8
18
19
20
21
22
23
Corporate
Noncorporate
Federal government
662.9
147.3
515.6
57.1
56.5
558.0
38.6
519.4
65.6
368.0
705.8
166.0
539.8
84.9
193.6
770.5
239.5
531.0
81.0
219.5
811.9
287.6
524.3
81.8
291.6
870.4
350.9
519.5
81.4
310.2
963.6
445.0
518.6
91.5
342.1
1020.9
502.0
518.9
90.0
117.5
1078.5
558.8
519.7
95.4
135.5
1136.9
615.4
521.6
94.2
57.6
1195.8
672.0
523.8
107.2
84.3
19
20
21
22
23
24
25
26
Rest of the world

Checkable deposits
Currency
306.1
34.2
272.0
370.1
69.0
301.1
361.0
47.2
313.8
363.9
47.8
316.0
367.0
48.8
318.1
375.2
46.6
328.7
390.5
48.4
342.1
409.9
55.3
354.7
425.7
57.1
368.7
444.2
66.0
378.3
466.2
69.2
397.1
24
25
26
27
Financial sectors
350.0
441.0
411.6
390.2
419.8
382.9
381.1
387.6
408.9
435.2
427.7
27
28
29
30

Credit unions
2.6
20.0
43.3
3.2
8.7
37.6
4.2
4.5
39.1
3.9
0.8
37.2
5.4
5.2
39.9
5.3
7.7
36.8
3.3
2.2
32.8
4.1
3.6
28.2
4.4
4.9
29.8
4.9
1.6
44.8
4.6
0.1
45.0
28
29
30
31
32
33
34

42.7
58.3
11.8
17.9
27.9
82.8
12.3
17.8
27.6
50.7
16.4
17.7
28.3
47.7
18.9
17.8
37.1
57.8
21.9
17.5
39.3
59.5
24.6
17.2
32.6
51.7
28.0
17.3
33.8
47.3
31.3
18.1
35.6
48.7
34.6
17.9
25.7
58.9
37.5
18.6
21.9
55.0
40.5
18.6
31
32
33
34
35
36
37
38
39

Finance companies
REITs
Brokers and dealers
1.9
13.7
16.2
16.6
105.0
7.5
88.3
16.5
18.4
120.1
17.9
99.4
17.0
26.3
90.7
5.3
99.0
15.9
25.2
90.2
7.7
99.1
16.1
26.0
86.1
15.5
47.3
15.5
24.6
89.5
14.2
63.4
15.3
23.5
96.9
14.0
70.4
15.7
29.0
92.1
20.7
62.3
15.8
25.8
108.4
18.8
63.7
16.3
29.3
115.3
19.1
62.4
15.7
30.0
114.8
35
36
37
38
39
10.0
6.4
6.3
4.7
2.8
5.0
5.7
5.9
7.0
5.6
6.5
40
40
Mail float
88
Z.1, March 8, 2012
L.205 Time and Savings Deposits

2007
2008
2009
2010
Q1
1
2
Total liabilities
Q2
2011
Q3
Q4
Q1
Q2
Q3
Q4
7606.7
7940.9
8316.3
8347.2
8242.7
8376.6
8432.4
8553.3
8714.0
8724.0
8805.6
5224.5
5749.3
6326.5
6459.4
6443.4
6539.7
6624.9
6741.5
6898.8
7065.7
7202.8
4025.9
25.5
26.3
4566.2
25.6
27.4
4949.1
29.9
24.5
5056.5
30.2
24.2
5047.9
31.6
19.6
5128.1
50.8
19.8
5225.9
35.7
19.3
5303.9
42.6
19.4
5469.5
47.4
19.2
5629.6
50.9
19.2
5760.9
48.9
18.9
3
4
5
3
4
5

6
7
Credit unions
638.1
508.7
578.5
551.7
667.9
655.1
674.8
673.7
665.9
678.4
661.9
679.3
662.7
681.3
676.2
699.4
661.2
701.4
663.7
702.3
663.4
710.7
6
7
Large time deposits (1)
2382.2
2191.6
1989.8
1887.8
1799.3
1836.9
1807.5
1811.8
1815.3
1658.4
1602.8
9
10
11

991.1
907.9
26.3
1015.6
784.7
27.4
841.7
958.6
24.5
789.9
904.7
24.2
770.5
836.6
19.6
749.9
886.5
19.8
691.6
909.0
19.3
663.0
937.1
19.4
656.6
945.4
19.2
631.5
804.6
19.2
638.0
736.6
18.9
9
10
11
12
13
Credit unions
387.1
69.9
293.5
70.4
137.7
27.3
140.7
28.2
144.2
28.4
151.3
29.4
157.6
30.1
161.2
31.2
162.9
31.3
170.7
32.4
175.6
33.6
12
13
7606.7
7940.9
8316.3
8347.2
8242.7
8376.6
8432.4
8553.3
8714.0
8724.0
8805.6
14
14
Total assets
15
Household sector
5888.5
6082.8
6190.0
6322.0
6324.6
6384.6
6420.3
6464.5
6615.2
6648.7
6707.7
15
16
17
18
Corporate
Noncorporate
800.7
441.3
359.3
740.0
381.9
358.1
842.1
488.8
353.3
805.3
458.0
347.3
781.0
438.3
342.8
810.7
471.2
339.4
810.5
471.6
338.9
860.9
522.1
338.8
885.2
546.0
339.2
912.4
572.3
340.2
940.8
599.4
341.4
16
17
18
19
20
21

Federal government
Rest of the world
245.9
2.8
207.6
265.1
1.6
273.1
275.9
1.9
230.0
281.9
2.0
221.6
265.1
1.8
225.3
268.7
1.8
231.2
275.5
2.0
247.7
278.8
1.5
262.5
274.4
1.7
261.1
279.9
1.8
274.9
293.2
1.7
272.6
19
20
21
22
Financial sectors
461.1
578.4
776.4
714.3
644.7
679.7
676.5
685.0
676.4
606.4
589.6
22
23
24
Credit unions
9.9
17.0
8.3
28.3
15.3
37.8
19.1
41.0
18.2
42.6
17.7
43.1
15.3
43.4
21.1
44.3
19.1
44.7
22.4
44.6
21.2
45.6
23
24
25
26

67.7
0.7
67.9
0.7
72.7
0.7
73.7
0.7
74.9
0.7
75.7
0.7
77.1
0.7
78.0
0.7
79.0
0.7
80.2
0.8
81.5
0.8
25
26
27
28
29

Finance companies
270.6
46.6
48.6
355.2
68.5
49.4
573.2
25.7
51.0
510.8
21.2
47.6
436.2
23.7
48.4
473.9
22.1
46.6
468.0
26.1
45.9
469.9
23.7
47.2
462.3
23.1
47.4
397.8
11.7
48.9
380.1
13.4
47.2
27
28
29
(1) Large time deposits are those issued in amounts of $100,000 or more.
L.206 Money Market Mutual Fund Shares

1
2
3
4
5
6
7
8
9
10
11
Total assets
Household sector
Rest of the world
3033.1
3757.3
3258.3
2930.7
2760.4
2746.1
2755.3
2679.4
2637.8
2578.4
2642.5
1346.7
544.4
74.3
79.3
46.0
1581.8
702.6
75.4
77.5
69.7
1313.1
646.1
73.7
81.6
76.9
1198.7
568.3
72.5
85.0
75.8
1140.0
524.3
71.5
84.1
74.7
1125.9
521.8
70.8
85.3
72.2
1129.7
517.5
70.7
86.9
69.8
1098.6
497.4
70.7
86.3
67.3
1086.8
481.0
70.8
85.8
64.8
1100.7
458.8
71.0
84.6
64.1
1106.7
466.9
71.2
84.6
63.3
2
3
4
5
6
20.7
21.6
93.5
12.4
794.3
32.8
39.2
95.7
14.3
1068.3
29.6
33.7
96.4
14.3
893.0
25.3
29.8
96.4
14.4
764.8
24.6
26.5
96.4
14.2
704.1
27.9
23.6
96.3
13.9
708.4
25.6
21.0
96.3
13.9
724.0
27.7
19.7
96.2
14.7
700.9
26.1
17.9
96.2
14.5
694.1
23.6
17.0
96.1
15.0
647.6
24.1
16.5
96.1
15.0
698.2
7
8
9
10
11
89
Z.1, March 8, 2012
L.207 Federal Funds and Security Repurchase Agreements

2007
1
2
3
4
5
6
7
8
9
10
11
Total liabilities
Monetary authority
REITs
Brokers and dealers (net)
Total assets
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
2159.8
1270.3
1452.4
1461.3
1324.0
1290.6
1227.4
1258.5
1220.8
1067.2
1108.2
44.0
611.4
226.3
0.8
17.6
0.5
20.2
91.7
1147.3
88.4
352.4
130.0
0.4
17.6
2.4
12.9
79.4
586.9
77.7
624.0
170.3
-47.7
53.6
0.6
12.4
90.4
470.9
57.8
667.3
195.3
-51.4
53.9
0.5
9.2
88.9
440.0
67.2
603.7
216.1
-59.0
50.2
0.6
9.8
94.4
340.9
63.8
538.6
231.7
-67.3
49.2
0.5
11.0
102.0
361.1
59.7
409.5
223.2
-49.5
47.6
1.5
10.3
120.5
404.7
62.2
393.0
224.4
-57.6
38.2
0.6
9.5
160.9
427.1
70.3
375.6
212.7
-60.4
37.0
0.6
10.0
187.1
387.9
84.1
333.0
265.6
-51.5
35.4
0.5
9.7
210.8
179.5
99.9
315.6
273.4
-49.3
34.7
0.4
10.4
210.0
213.1
2
3
4
5
6
7
8
9
10
1531.8
1237.7
1041.5
999.3
885.2
931.3
931.7
1035.0
1012.0
880.5
935.6
11
12
13
14
15
16
17

Rest of the world (net)
Monetary authority
Credit unions (net)
8.1
156.1
338.4
46.5
45.6
2.5
7.2
152.6
114.9
80.0
34.7
-2.3
7.9
160.6
31.0
0.0
12.0
0.1
9.0
167.3
-31.4
0.0
9.5
0.1
9.2
165.5
-123.1
0.0
7.8
0.1
6.6
167.9
-118.6
0.0
7.0
0.0
12.2
171.2
-98.6
0.0
5.4
0.0
12.8
170.0
-40.8
0.0
4.5
0.0
12.1
168.8
-55.7
0.0
5.5
18.8
11.4
166.6
-107.4
0.0
6.8
10.9
11.6
166.5
-44.9
0.0
7.7
14.4
12
13
14
15
16
17
18
19
20
21
22
23
24
25

Mutual funds
Government-sponsored enterprises (net)
3.6
2.7
25.8
21.7
605.9
132.2
142.7
0.0
4.4
8.0
33.1
23.5
542.4
124.7
114.5
0.0
4.5
10.2
36.2
23.5
479.9
153.3
122.1
0.1
8.3
11.3
36.3
23.6
438.9
150.1
176.4
0.1
6.1
11.0
31.3
23.2
462.6
127.6
163.8
0.1
5.9
11.0
36.8
22.8
493.3
134.9
163.8
0.1
3.8
10.9
37.1
22.8
479.4
137.5
150.0
0.1
3.5
9.7
37.3
24.0
439.2
218.5
156.3
0.1
2.3
8.8
33.0
23.7
457.6
221.8
115.1
0.1
2.0
10.8
34.0
24.6
479.7
126.7
114.3
0.1
1.8
10.7
33.5
24.6
484.0
115.1
110.4
0.1
18
19
20
21
22
23
24
25
628.0
32.6
410.9
462.0
438.8
359.3
295.6
223.4
208.8
186.7
172.6
26
26
L.208 Open Market Paper

1
Total outstanding, all types
2
3
4
5
6
7
8
9
10
11
12
13
Commercial paper
Foreign issues in U.S.
Nonfinancial
Financial
Financial business
ABS issuers
Finance companies
REITs
14
15
16
Bankers acceptances (1)

17
Holdings, by sector
1788.6
1599.3
1137.4
1081.0
1028.0
1050.6
1057.5
1131.2
1081.6
1004.4
969.2
1788.1
123.8
413.0
29.0
384.0
1251.3
0.0
116.7
643.1
123.5
0.0
367.9
1599.3
131.5
342.0
49.7
292.3
1125.8
0.0
77.7
559.3
100.9
0.0
388.0
1137.4
58.4
401.3
34.5
366.8
677.6
0.0
60.8
293.1
62.1
0.0
261.7
1081.0
73.6
387.5
34.8
352.8
619.8
132.5
74.0
126.4
64.0
0.0
222.9
1028.0
82.0
378.3
33.4
345.0
567.7
135.8
63.7
112.2
63.1
0.0
193.0
1050.6
97.9
378.0
29.4
348.6
574.6
129.2
64.4
119.4
56.8
0.0
204.8
1057.5
82.9
398.6
30.6
368.0
575.9
112.9
64.7
120.2
63.8
0.0
214.3
1131.2
110.5
428.2
35.1
393.2
592.5
109.2
73.6
128.3
65.4
0.0
216.0
1081.6
106.9
417.2
41.4
375.8
557.5
109.0
76.9
116.2
61.0
0.0
194.4
1004.4
124.7
352.4
34.0
318.5
527.3
109.9
71.7
108.5
57.3
0.0
180.0
969.2
116.2
344.8
30.2
314.6
508.3
120.6
75.9
95.8
61.6
0.0
154.4
2
3
4
5
6
7
8
9
10
11
12
13
0.5
0.0
0.5
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
14
15
16
1788.6
1599.3
1137.4
1081.0
1028.0
1050.6
1057.5
1131.2
1081.6
1004.4
969.2
17
18
19
20
21
22
23
24
25
26
Household sector
Rest of the world
Monetary authority
U.S.-chartered commercial banks (1)
Foreign banking offices in U.S. (1)
Credit unions
107.3
69.5
184.3
278.1
0.0
0.0
0.0
0.0
0.4
6.0
57.3
119.8
232.9
0.0
15.7
0.0
0.0
0.0
34.6
56.0
65.3
191.5
0.0
0.0
0.0
0.0
0.0
44.6
57.2
57.2
194.1
0.0
0.0
0.0
0.0
0.0
54.2
63.8
54.9
187.4
0.0
0.0
0.0
0.0
0.0
63.0
72.5
63.0
192.6
0.0
0.0
0.0
0.0
0.0
63.4
71.4
72.2
192.3
0.0
0.0
0.0
0.0
0.0
67.9
76.0
82.6
199.3
0.0
0.0
0.0
0.0
0.0
64.9
75.1
86.0
195.1
0.0
0.0
0.0
0.0
0.0
60.3
73.9
88.1
199.5
0.0
0.0
0.0
0.0
0.0
58.2
74.8
93.0
190.7
0.0
0.0
0.0
0.0
0.0
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35

Mutual funds
Brokers and dealers
13.3
41.7
26.9
38.4
674.6
114.1
27.7
87.1
125.2
19.1
38.3
37.2
25.9
618.5
51.6
6.8
65.7
304.6
9.8
49.8
26.7
24.0
510.5
80.2
9.7
41.5
37.8
11.1
35.7
21.7
24.1
445.6
77.4
8.6
38.5
65.2
10.4
39.3
18.2
22.7
382.9
55.9
10.4
33.1
94.8
11.8
46.0
17.1
22.3
382.8
63.3
8.6
34.2
73.4
7.9
40.9
15.0
22.4
394.2
66.3
9.9
36.2
65.2
8.5
39.9
14.8
23.5
398.1
144.0
9.5
39.6
27.6
8.0
38.0
14.4
23.2
361.1
147.2
9.3
42.2
17.1
5.3
42.1
13.8
24.1
349.5
55.7
9.2
40.4
42.6
5.4
40.9
13.2
24.1
355.1
45.7
6.5
42.1
19.5
27
28
29
30
31
32
33
34
35
(1) Excludes banks holdings of own acceptances.
90
Z.1, March 8, 2012
L.209 Treasury Securities

2007
1
2
3
4
5
Total liabilities
Savings bonds
Treasury bills
Total assets
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
5099.2
6338.2
7781.9
8259.6
8603.8
8993.8
9361.5
9621.4
9714.1
10102.6
10428.3
196.4
999.5
3903.3
194.0
1861.2
4283.0
191.2
1787.9
5802.8
190.2
1838.0
6231.4
189.6
1777.0
6637.2
188.7
1783.7
7021.4
187.9
1768.9
7404.7
186.8
1694.7
7739.9
186.0
1529.4
7998.7
185.1
1475.6
8442.0
185.2
1519.5
8723.7
2
3
4
5099.2
6338.2
7781.9
8259.6
8603.8
8993.8
9361.5
9621.4
9714.1
10102.6
10428.3
6
7
8
Household sector
Savings bonds
264.6
196.4
68.3
256.5
194.0
62.6
815.5
191.2
624.3
972.5
190.2
782.3
1157.2
189.6
967.6
1180.8
188.7
992.1
1115.9
187.9
928.0
1025.4
186.8
838.6
847.9
186.0
662.0
918.1
185.1
733.0
958.9
185.2
773.7
6
7
8
9
10
11

38.3
59.3
525.1
30.5
51.8
475.1
43.0
46.1
493.9
49.7
45.4
499.9
52.2
44.8
504.8
53.4
44.3
498.1
43.4
44.3
503.6
42.8
44.3
490.5
50.2
44.3
473.0
50.1
44.4
454.5
50.9
44.6
444.6
9
10
11
12
13
Rest of the world

Monetary authority
2376.4
740.6
3253.0
475.9
3671.4
776.6
3852.9
776.7
3966.7
777.0
4216.4
811.7
4385.3
1021.5
4422.3
1340.4
4442.5
1619.5
4597.6
1664.7
4671.4
1663.4
12
13
14
15
16
17

73.0
30.4
7.1
1.8
53.4
35.5
3.1
1.2
117.7
57.5
5.8
0.5
181.6
58.0
5.8
0.9
181.2
54.7
5.0
1.3
220.2
67.5
17.2
1.1
211.6
60.9
19.6
1.1
210.0
66.1
16.1
1.1
177.7
63.6
9.0
1.6
187.0
58.1
20.4
0.9
169.6
60.5
26.8
1.0
14
15
16
17
18
19
Credit unions
7.0
10.4
3.0
8.8
6.8
14.2
7.1
15.9
6.7
17.2
6.0
10.8
5.9
20.0
6.0
21.8
5.6
21.9
4.7
22.5
4.2
24.2
18
19
20
21
22
23
24

71.3
70.6
169.5
141.6
88.0
65.6
105.7
184.9
146.4
112.3
88.5
133.5
310.7
174.5
119.1
87.1
138.6
341.6
179.1
120.6
87.7
144.2
407.4
182.0
124.5
90.4
150.2
466.9
185.5
128.2
91.7
156.6
486.7
185.6
129.2
93.3
153.6
500.0
187.9
132.9
92.0
154.1
521.9
186.9
136.3
90.9
162.8
545.3
189.0
144.0
90.5
161.9
567.8
188.3
147.2
20
21
22
23
24
25
26
27
28
29
30
31

Mutual funds
Closed-end funds
ABS issuers
Brokers and dealers
178.1
179.2
5.6
19.7
15.5
85.8
-60.0
577.7
187.9
3.2
27.0
16.8
72.2
190.6
406.4
255.5
4.3
41.7
21.9
53.9
123.0
371.5
269.9
5.0
46.3
60.1
49.7
123.6
348.9
278.3
4.8
51.9
72.2
46.2
87.1
308.1
294.3
4.9
51.7
69.5
42.6
73.8
335.4
297.4
5.1
51.0
55.2
40.1
94.5
337.7
298.2
5.2
52.8
58.5
35.9
78.5
341.5
306.4
5.2
56.7
63.3
36.3
56.6
373.5
329.1
4.8
61.1
68.5
31.4
79.3
443.3
349.8
4.7
62.4
75.2
29.2
187.8
25
26
27
28
29
30
31
5122.3
6361.5
7805.4
8283.2
8627.7
9017.8
9385.6
9645.9
9738.6
10127.6
10453.6
32
Memo:
32
Federal government debt (1)
(1) Total Treasury securities (table L.209, line 1) plus budget agency securities (table L.210, line 2) and federal mortgage debt (table L.217, line 11).
91
Z.1, March 8, 2012
L.210 Agency- and GSE-Backed Securities (1)

2007
1
2
3
4
5
6
7
8
Total liabilities
Budget agencies
Total assets
Household sector
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
7397.7
8166.7
8106.8
7657.0
7661.4
7618.0
7598.2
7648.7
7577.8
7585.0
7561.1
23.1
2910.2
4464.4
23.3
3181.9
4961.4
23.5
2706.6
5376.7
23.6
6653.3
980.2
23.9
6591.1
1046.5
24.0
6498.1
1096.0
24.2
6434.5
1139.5
24.5
6437.3
1187.0
24.5
6317.3
1236.0
25.0
6282.7
1277.3
25.3
6233.7
1302.1
2
3
4
7397.7
8166.7
8106.8
7657.0
7661.4
7618.0
7598.2
7648.7
7577.8
7585.0
7561.1
689.2
12.8
444.0
733.5
10.2
434.1
139.0
14.3
417.0
107.9
16.6
430.9
148.9
17.4
420.9
182.0
18.0
422.7
219.0
15.2
427.0
306.7
13.4
418.7
279.7
15.9
410.3
232.1
14.0
398.9
196.1
15.0
388.8
6
7
8
0.0
1582.4
0.0
54.4
1406.9
19.7
196.4
1154.8
1068.3
186.4
1116.5
1237.7
175.3
1128.0
1282.9
164.4
1096.1
1232.6
149.2
1077.3
1139.6
138.4
1054.6
1069.7
103.7
1033.1
1025.6
70.6
1032.9
979.2
31.1
1021.4
941.7
9
10
11
9
10
11
Federal government
Rest of the world
Monetary authority
12
13
14
15

928.9
57.1
9.9
26.3
1068.7
50.6
25.8
24.4
1224.0
31.3
24.3
20.5
1219.3
30.8
22.6
18.4
1213.1
30.0
22.1
16.2
1259.8
29.5
30.1
13.0
1310.8
26.5
21.1
12.8
1341.9
31.4
22.2
6.9
1340.0
30.6
31.5
6.0
1360.0
32.2
43.2
5.4
1415.2
30.6
33.1
4.8
12
13
14
15
16
17
Credit unions
177.4
68.4
173.8
82.9
193.4
110.8
202.6
123.5
199.8
133.6
203.8
136.3
216.4
151.6
219.9
166.6
219.6
170.9
216.6
173.4
218.2
180.4
16
17
18
19
20
21
22

125.8
382.9
296.8
331.1
5.0
114.3
366.2
318.1
337.5
5.1
116.2
371.9
269.1
306.9
5.6
116.1
372.8
259.6
301.0
5.8
116.0
373.8
210.9
292.3
6.0
115.9
374.8
170.2
285.1
6.6
115.8
376.0
170.9
285.2
6.3
116.2
386.1
165.4
288.7
6.2
115.7
389.7
163.4
287.2
6.5
116.3
395.0
160.7
290.4
6.8
115.4
398.9
157.7
289.3
7.1
18
19
20
21
22
23
24
25

Mutual funds
235.9
565.4
702.9
756.2
592.7
910.0
543.0
639.1
924.5
465.5
684.3
417.0
450.4
710.7
387.7
414.8
760.8
375.1
402.8
791.1
377.0
373.4
793.4
373.9
359.4
819.1
368.2
384.1
890.3
368.1
403.7
955.3
364.6
23
24
25
26
27
28
ABS issuers
REITs
Brokers and dealers
376.5
88.9
290.2
349.5
89.6
242.6
120.3
105.1
110.9
85.3
109.1
127.5
48.7
114.7
161.9
24.3
128.7
173.5
13.4
143.3
149.8
11.0
190.7
153.2
10.0
216.9
174.7
9.0
239.1
166.7
8.0
237.0
147.8
26
27
28
(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government sponsored enterprises (line 3) such as Fannie Mae and FHLB;
and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mac, Freddie Mac, 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 31.
92
Z.1, March 8, 2012
L.211 Municipal Securities and Loans

2007
2008
2009
2010
Q1
Total liabilities
2
3
4

Short-term (1)
Long-term
5
6
Nonprofit organizations (2)

(industrial revenue bonds)
Total assets
Q2
2011
Q3
Q4
Q1
Q2
Q3
Q4
3448.1
3543.4
3697.9
3730.8
3730.7
3734.7
3795.6
3778.6
3750.5
3733.6
3743.4
2855.9
51.2
2804.7
2875.0
55.9
2819.2
2985.7
63.6
2922.1
3008.6
63.7
2945.0
3000.2
47.3
2952.9
3003.5
52.0
2951.5
3051.1
63.0
2988.1
3031.2
60.1
2971.0
2998.3
37.6
2960.7
2987.2
48.0
2939.2
2991.6
52.3
2939.3
2
3
4
250.7
341.5
258.7
409.7
264.6
447.5
265.7
456.4
263.5
466.9
260.8
470.3
262.3
482.3
261.9
485.4
260.7
491.4
256.1
490.3
254.4
497.4
5
6
3448.1
3543.4
3697.9
3730.8
3730.7
3734.7
3795.6
3778.6
3750.5
3733.6
3743.4
1725.4
29.2
5.3
5.5
45.1
1766.7
26.2
4.9
5.4
51.0
1896.5
27.1
5.1
5.7
58.7
1930.0
23.2
5.0
5.9
62.7
1934.0
20.1
4.9
5.9
66.8
1916.5
21.3
4.9
6.0
69.3
1957.9
20.8
4.9
6.1
71.7
1959.3
20.3
4.9
6.0
74.2
1928.1
20.0
4.9
6.0
76.7
1902.1
19.7
4.9
5.9
79.7
1879.4
19.2
4.9
5.9
82.7
8
9
10
11
12
8
9
10
11
12
Household sector
Rest of the world
13
14
15
16

190.9
0.0
2.0
11.0
214.1
0.0
2.5
7.8
215.1
0.0
3.5
9.2
216.2
0.0
3.1
9.6
218.4
0.0
2.0
10.1
226.4
0.0
2.7
10.2
243.5
0.0
2.5
11.1
249.0
0.0
2.8
10.9
256.2
0.0
2.5
11.1
272.8
0.0
2.8
11.1
285.9
0.0
3.4
11.2
13
14
15
16
17
18
19

371.3
41.4
2.4
381.9
47.1
1.4
369.4
73.1
1.5
364.0
81.3
1.5
358.7
90.5
1.5
353.5
100.8
1.6
348.4
112.3
1.6
349.7
115.1
1.6
348.2
116.1
1.6
349.9
117.7
1.5
347.1
118.9
1.5
17
18
19
20
21
22
23
24
25

Mutual funds
Closed-end funds
Brokers and dealers
471.0
372.2
91.3
0.6
33.3
50.1
494.6
389.6
77.9
2.3
31.3
38.7
401.3
480.2
81.2
5.9
29.1
35.4
370.0
501.5
81.9
6.5
28.0
40.3
352.0
514.2
82.2
7.3
27.2
35.0
333.0
532.8
82.6
7.8
26.2
39.2
334.4
526.6
81.3
7.6
24.9
40.0
320.7
515.1
80.7
7.5
23.8
37.0
305.8
520.1
82.0
7.7
22.9
40.6
292.0
526.9
80.1
7.8
22.0
36.6
296.5
542.8
82.4
8.6
21.4
31.5
20
21
22
23
24
25
(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).
93
Z.1, March 8, 2012
L.212 Corporate and Foreign Bonds

2007
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
11435.9
11013.2
11432.5
11390.9
11292.4
11381.5
11468.0
11477.8
11505.9
11526.8
11492.5
2
3

3557.9
1587.1
3762.5
1237.3
4139.7
1570.3
4247.8
1606.1
4305.7
1606.0
4433.4
1628.4
4560.3
1737.3
4658.7
1748.3
4771.6
1751.8
4848.3
1756.6
4936.3
1728.8
2
3
Financial sectors
6291.0
6013.5
5722.5
5537.0
5380.7
5319.8
5170.5
5070.8
4982.4
4921.8
4827.3
174.4
516.0
10.4
182.4
638.9
2.4
174.1
1028.7
2.3
417.3
996.7
3.2
415.0
977.3
3.0
421.7
1027.8
2.8
434.1
982.2
2.7
431.3
984.4
2.2
430.5
934.3
2.2
427.2
912.7
2.2
413.3
888.2
2.4
5
6
7
3901.5
974.1
231.3
64.8
418.5
3577.3
924.5
171.0
97.1
419.9
2999.5
837.5
129.8
92.9
457.8
2569.6
858.2
132.9
92.3
466.8
2451.5
834.6
131.8
100.9
466.6
2329.6
823.0
139.1
96.1
479.8
2218.8
818.7
129.7
129.7
454.6
2123.0
796.0
141.3
128.2
464.5
2076.8
781.3
156.2
110.1
491.1
2018.7
794.6
156.9
99.2
510.4
1973.0
777.4
155.0
91.8
526.2
8
9
10
11
12
11435.9
11013.2
11432.5
11390.9
11292.4
11381.5
11468.0
11477.8
11505.9
11526.8
11492.5
13
2022.7
140.7
0.0
2719.1
1961.6
137.5
0.0
2353.5
2082.7
144.8
0.6
2465.3
2011.6
150.8
0.6
2440.1
1893.5
149.2
0.7
2413.9
1790.7
151.3
0.8
2423.0
1841.9
154.3
0.9
2488.6
1815.7
153.2
0.9
2480.8
1818.5
152.2
0.9
2461.3
1768.2
150.2
0.8
2451.3
1737.0
150.1
0.8
2422.5
14
15
16
17
572.4
369.5
35.9
0.5
142.2
34.6
542.0
401.6
35.8
0.5
108.5
25.7
582.6
244.9
31.1
2.0
84.5
18.6
523.2
236.6
33.6
1.4
81.1
18.5
499.5
252.4
17.4
0.5
80.9
18.4
499.3
362.5
42.2
0.5
76.1
11.5
474.9
233.9
38.3
0.6
73.9
3.7
461.1
220.6
40.5
5.9
70.9
3.7
456.2
229.5
40.6
5.2
68.9
3.8
476.2
255.7
22.0
4.5
68.4
3.6
484.1
234.5
18.3
4.2
67.8
4.1
18
19
20
21
22
23
282.9
1862.6
357.4
297.0
3.0
267.5
1817.0
400.1
312.9
2.9
298.3
1927.2
442.9
308.6
3.0
304.2
1952.8
452.5
308.7
3.0
310.2
1978.0
462.1
311.5
3.1
316.4
2003.5
469.2
311.9
3.5
322.6
2030.2
483.5
312.4
3.2
323.8
2062.1
496.3
314.1
3.1
322.5
2080.5
504.1
312.4
3.2
324.1
2109.3
512.7
321.2
3.4
321.5
2130.4
520.9
320.0
3.7
24
25
26
27
28
5
6
7
8
9
10
11
12
13
Total liabilities
2008

ABS issuers (net) (3)
Finance companies
REITs
Brokers and dealers
Total assets
14
15
16
17
Household sector
Federal government
18
19
20
21
22
23

Credit unions
24
25
26
27
28

29
30
31
32

Mutual funds
Closed-end funds
376.8
889.9
74.0
13.8
228.0
959.9
48.7
27.7
169.9
1126.8
54.0
55.3
176.0
1178.1
55.6
60.4
169.1
1200.9
53.6
65.5
160.8
1244.0
55.3
73.9
154.2
1275.4
58.1
74.0
153.7
1321.6
60.7
77.8
153.2
1378.0
60.1
84.5
128.1
1419.9
57.5
91.4
129.6
1463.4
56.2
100.4
29
30
31
32
33
34
35
36
37
Finance companies
REITs
Brokers and dealers
464.4
189.4
34.4
382.8
170.0
386.6
192.4
11.7
123.8
667.3
310.8
198.6
15.5
154.4
710.2
324.8
185.6
17.5
162.8
711.4
313.0
188.7
18.1
161.9
730.4
308.3
181.6
20.1
170.3
704.9
293.9
179.0
20.8
189.5
760.1
284.7
184.1
24.6
201.5
716.5
270.0
184.9
26.2
188.8
700.4
264.3
190.5
27.1
141.9
734.5
258.0
183.8
27.0
111.9
742.4
33
34
35
36
37
(1) Holdings of foreign issues by U.S. residents.

(2) Holdings of U.S. issues by foreign residents.
(3) Liabilities net of assets.
94
Z.1, March 8, 2012
L.213 Corporate Equities (1)

2007
2008
2009
2010
Q1
Issues at market value
3
4

2011
Q3
Q4
Q1
Q2
Q3
Q4
25580.9
15640.5
20123.2
21008.9
18733.5
21070.4
23249.0
24589.2
24451.5
20300.0
22211.4
15730.7
10016.6
12494.7
12914.3
11488.2
12905.4
14422.3
15339.3
15246.8
12867.3
14276.6
5248.0
4602.2
2748.4
2875.4
3995.3
3633.2
4103.8
3990.8
3624.9
3620.4
4261.3
3903.7
4485.6
4341.1
4674.9
4575.1
4661.8
4542.8
3713.5
3719.2
3862.9
4071.9
3
4
25580.9
15640.5
20123.2
21008.9
18733.5
21070.4
23249.0
24589.2
24451.5
20300.0
22211.4
Household sector
Federal government
9636.8
108.0
0.0
2812.2
5746.9
82.1
188.7
1806.6
7408.7
117.7
67.4
2477.2
7649.4
114.7
50.2
2673.7
6918.7
106.0
49.6
2343.2
7863.7
107.6
50.8
2660.3
8663.1
109.9
49.9
2926.1
9211.7
109.1
55.1
3101.5
9008.2
108.3
61.1
3217.6
7415.2
106.7
56.7
2702.4
8140.2
106.7
57.5
3026.4
6
7
8
9
10
11
12
13
14
15
16
17
18
Monetary authority
0.0
41.5
0.0
25.3
236.2
1464.6
2673.3
2013.7
149.1
0.0
6.7
0.0
22.7
193.3
1001.7
1599.7
1237.9
85.6
25.1
30.3
0.0
22.2
219.8
1208.5
1835.7
1549.8
119.4
25.4
34.7
0.0
21.8
216.7
1275.8
1918.2
1636.0
127.8
25.7
21.8
0.0
21.7
193.4
1169.4
1673.9
1450.8
112.6
26.1
29.5
0.0
19.5
204.8
1286.6
1832.6
1604.6
125.6
26.4
38.2
0.1
19.7
219.2
1402.6
2012.4
1782.5
143.7
0.0
42.0
0.0
21.9
222.7
1484.8
2100.1
1861.9
152.1
0.0
45.1
0.0
21.8
220.2
1487.8
2063.3
1848.2
152.9
0.0
28.4
0.0
20.2
203.4
1355.6
1714.3
1525.4
124.1
0.0
35.4
0.0
21.5
226.8
1459.3
1877.9
1690.1
138.0
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Mutual funds
Closed-end funds
Brokers and dealers
5476.9
144.9
573.7
224.8
0.0
3014.1
71.3
473.9
109.2
0.0
4136.2
86.0
669.9
124.2
25.1
4351.8
87.6
687.2
112.4
25.4
3799.5
80.5
642.5
98.4
25.7
4299.9
90.6
741.5
100.6
26.1
4762.7
95.1
853.9
117.2
26.4
5087.0
98.7
908.9
131.7
0.0
5067.4
99.0
919.3
131.3
0.0
4073.8
93.3
782.8
97.8
0.0
4373.5
93.8
863.5
100.9
0.0
19
20
21
22
23
19086.6
12014.9
14950.4
15719.3
14024.6
15596.5
17393.7
18488.4
18353.0
15360.7
17006.6
24
6
7
8
9
Holdings at market value
Q2
Memo:
24
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 11, 12, 13, 14, 20, 21,22, and 23; line 1 excludes intercorporate holdings of nonfinancial corporations.
L.214 Mutual Fund Shares (1)

1
Shares at market value
7829.0
5435.3
6961.6
7295.0
6764.2
7401.8
7934.5
8471.9
8570.5
7532.8
7955.9
Holdings at market value
7829.0
5435.3
6961.6
7295.0
6764.2
7401.8
7934.5
8471.9
8570.5
7532.8
7955.9
4597.9
191.1
32.8
373.5
3327.2
125.8
32.0
256.2
4136.7
190.2
33.7
363.6
4296.9
199.2
35.1
399.9
3974.2
188.1
29.7
396.4
4299.6
206.6
30.2
458.1
4571.7
222.9
30.9
513.8
4916.7
234.8
30.7
569.6
4965.9
238.0
30.4
599.8
4343.3
215.5
30.0
527.2
4554.7
229.3
30.0
556.8
3
4
5
6
29.6
2.1
19.6
2.0
46.1
1.3
43.2
1.6
38.7
1.6
41.2
1.6
45.0
1.5
47.1
1.7
45.0
1.8
36.6
1.8
41.7
1.8
7
8
6.8
188.4
2110.6
296.4
4.4
121.0
1366.0
181.1
5.3
140.8
1817.3
226.7
5.4
144.8
1929.6
239.3
5.0
134.3
1784.0
212.2
5.4
144.1
1980.2
234.8
5.7
155.7
2126.6
260.8
5.8
158.7
2234.5
272.4
5.8
158.5
2254.9
270.4
5.2
142.9
2007.1
223.2
5.5
147.3
2141.7
247.3
9
10
11
12
3
4
5
6
Household sector
Rest of the world
7
8

Credit unions
9
10
11
12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
95
Z.1, March 8, 2012
L.215 Bank Loans Not Elsewhere Classified (1)

2007
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21

Nonfinancial sectors
Household sector
Corporate business
Rest of the world
Foreign official institutions
Foreign banks
Other foreign
Financial sectors
Finance companies
REITs
Brokers and dealers
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
2027.3
2721.1
1921.8
1917.0
1881.3
1855.7
1874.1
1872.3
1902.8
1951.5
2006.5
1750.2
1947.9
1650.3
1671.1
1650.6
1655.6
1692.8
1706.7
1758.0
1823.0
1878.0
99.7
621.1
926.5
102.8
1.9
30.2
70.8
117.7
676.1
1046.1
107.9
2.6
33.0
72.4
147.8
475.9
929.8
96.8
3.2
27.9
65.8
226.4
474.9
872.7
97.2
3.0
30.4
63.8
237.5
464.2
848.2
100.6
3.3
33.1
64.3
256.3
460.1
831.6
107.7
3.5
34.1
70.0
263.2
468.6
845.9
115.1
4.3
39.7
71.2
251.0
476.3
852.3
127.1
4.2
45.7
77.1
271.7
486.3
869.5
130.5
3.2
49.1
78.2
286.8
500.8
894.4
140.9
3.1
53.0
84.8
294.8
519.6
919.3
144.3
2.6
51.0
90.7
3
4
5
6
7
8
9
277.1
773.2
271.5
246.0
230.7
200.1
181.3
165.6
144.8
128.6
128.4
10
62.0
182.0
33.2
0.0
0.0
75.0
174.9
32.8
45.5
444.9
11.0
144.5
20.7
0.0
95.3
11.3
125.9
18.5
0.0
90.2
8.8
120.0
17.0
0.0
85.0
10.9
95.0
17.9
0.0
76.3
9.8
79.6
18.5
0.0
73.4
11.2
88.2
16.2
0.0
49.9
11.5
75.2
15.6
0.0
42.5
11.0
66.2
20.4
0.0
31.0
11.0
79.0
17.0
0.0
21.5
11
12
13
14
15
2027.3
2721.1
1921.8
1917.0
1881.3
1855.7
1874.1
1872.3
1902.8
1951.5
2006.5
16
0.0
1532.9
466.8
6.3
21.4
490.4
1670.8
531.9
8.2
19.7
142.8
1338.4
406.5
14.6
19.4
137.4
1340.2
403.9
17.1
18.4
127.5
1332.3
387.3
18.5
15.7
106.0
1328.6
386.7
18.6
15.9
98.1
1350.7
390.4
18.9
16.1
69.1
1354.6
405.7
26.9
16.0
55.3
1390.6
416.7
24.2
16.0
42.3
1443.0
424.7
24.8
16.6
30.5
1509.7
426.6
22.6
17.1
17
18
19
20
21
(1) Excludes bank lending in the form of open market paper, mortgages, consumer credit, and security credit which are shown on other instrument tables.
(2) Loans from Federal Reserve banks to households, rest of the world, broker and dealers, and funding corporations. See loan details on table L.109.
96
Z.1, March 8, 2012
L.216 Other Loans and Advances

2007
Total other loans and advances
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
2605.3
2711.7
2181.4
2087.8
2043.9
1983.5
1950.6
1912.8
1909.8
1905.1
1919.8
2
3
4
5
6
7
8
9
10

Rest of the world
Finance companies
105.2
12.5
10.9
46.8
11.9
23.1
0.0
0.0
0.0
111.3
12.8
15.3
48.9
12.7
21.6
0.0
0.0
0.0
177.4
12.6
74.9
52.5
13.5
21.9
0.0
0.0
2.0
180.9
12.6
74.6
53.3
13.7
22.2
0.0
0.0
4.7
180.5
12.3
70.9
53.7
13.8
22.0
0.0
0.0
7.8
181.5
12.3
71.8
53.2
13.9
22.0
0.0
0.0
8.3
180.9
11.6
70.6
53.0
14.4
22.1
0.0
0.0
9.2
183.1
11.6
71.9
53.6
14.5
22.2
0.0
0.0
9.3
180.2
11.4
67.9
54.7
14.7
21.9
0.0
0.0
9.7
182.0
11.4
68.6
55.1
15.0
22.1
0.0
0.0
9.8
184.1
11.2
70.1
55.9
15.3
21.8
0.0
0.0
9.8
2
3
4
5
6
7
8
9
10
11
12
Foreign loans to U.S. corporate business

271.5
271.5
207.3
207.3
182.5
182.5
185.6
185.6
197.4
197.4
163.1
163.1
160.4
160.4
162.3
162.3
181.9
181.9
195.0
195.0
202.6
202.6
11
12
13
14
15
16
Customers liability on acceptances outstanding

Rest of the world
0.0
0.5
0.2
0.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
13
14
15
16
17
18
19
Savings institution loans to business

73.7
36.9
36.9
80.1
40.0
40.0
65.6
32.8
32.8
65.3
32.6
32.6
64.4
32.2
32.2
71.1
35.6
35.6
72.0
36.0
36.0
72.2
36.1
36.1
65.8
32.9
32.9
69.0
34.5
34.5
69.7
34.8
34.8
17
18
19
20
21
22
Credit unions loans to business

26.9
13.4
13.4
29.6
14.8
14.8
32.3
16.2
16.2
31.3
15.6
15.6
32.5
16.3
16.3
33.2
16.6
16.6
33.1
16.5
16.5
31.5
15.8
15.8
32.9
16.5
16.5
34.3
17.2
17.2
32.8
16.4
16.4
20
21
22
23
24
25
Policy loans (Household liability)

114.5
0.6
113.9
120.4
0.6
119.8
121.1
0.5
120.6
121.7
0.5
121.2
122.4
0.5
121.9
123.5
0.5
123.0
124.5
0.5
124.0
124.8
0.5
124.3
125.5
0.5
125.0
126.4
0.5
126.0
126.8
0.5
126.4
23
24
25
26
27
28
29
30
31
32
33
Government-sponsored enterprise loans (1)

Liab.: Household sector (SLMA)
Nonfinancial corporate business (FCS)
Nonfinancial noncorporate business (FCS)
U.S.-chartered coml. banks (FHLB & SLMA)
Savings institutions (FHLB & SLMA)
942.6
0.0
9.5
66.0
455.2
350.9
32.3
28.7
980.7
0.0
5.8
74.5
526.3
278.7
40.6
54.9
695.9
0.0
5.3
74.7
402.0
139.1
26.5
48.3
634.5
0.0
5.3
72.4
357.0
128.8
25.4
45.6
599.1
0.0
4.8
71.7
327.6
124.4
25.0
45.6
561.6
0.0
5.8
76.1
289.0
120.2
25.2
45.3
551.3
0.0
6.9
80.3
277.9
114.9
26.1
45.1
522.8
0.0
8.1
81.5
256.4
107.6
23.7
45.5
500.2
0.0
6.9
78.2
243.7
102.5
22.8
46.2
479.8
0.0
5.7
75.2
228.7
100.0
23.7
46.4
479.8
0.0
6.1
77.7
235.0
90.0
24.1
46.9
26
27
28
29
30
31
32
33
34
35
Securitized loans held by ABS issuers

93.7
93.7
78.1
78.1
54.4
54.4
37.7
37.7
37.2
37.2
40.6
40.6
37.2
37.2
33.4
33.4
33.1
33.1
33.0
33.0
32.9
32.9
34
35
36
37
38
Finance company loans to business

523.0
470.7
52.3
539.9
485.9
54.0
448.9
404.0
44.9
447.5
402.8
44.8
439.2
395.3
43.9
445.7
401.2
44.6
441.0
396.9
44.1
439.7
395.8
44.0
429.1
386.2
42.9
428.1
385.3
42.8
433.8
390.4
43.4
36
37
38
39
40
41
42
43
44
45
Loans to nonfinancial corporate business (2)

Mutual funds
ABS issuers
Brokers and dealers
453.8
17.6
31.9
82.4
248.3
52.8
20.8
564.3
29.7
46.3
94.8
301.7
55.9
35.9
403.4
26.8
20.4
75.4
197.8
60.1
22.9
383.3
25.7
18.9
73.7
191.9
52.1
21.0
371.2
25.9
18.2
74.3
181.8
50.1
20.8
363.1
26.4
17.7
75.9
173.6
48.7
20.8
350.2
26.2
16.7
74.6
163.8
47.4
21.4
342.9
25.8
15.8
88.6
147.2
46.9
18.7
361.1
24.9
16.9
97.0
157.2
46.7
18.4
357.5
24.7
16.7
96.0
155.6
46.2
18.3
357.3
24.7
16.7
96.0
155.5
46.2
18.2
39
40
41
42
43
44
45
(1) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4.
(2) Syndicated loans from domestic entities, excluding banks and finance companies which are included elsewhere.
97
Z.1, March 8, 2012
L.217 Total Mortgages

2007
1
2
3
4
5
6
7
Total mortgages
Home
Commercial
Farm
Total liabilities
Household sector
8
9
10
Corporate
Noncorporate
11
12
Federal government
REITs
13
Total assets
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
14518.2
14608.9
14327.3
14153.3
14037.8
13915.2
13813.0
13714.0
13632.6
13551.6
13492.6
11173.1
784.6
2447.9
112.7
11070.1
837.7
2566.4
134.7
10870.9
847.0
2478.1
131.3
10732.5
842.4
2445.9
132.5
10665.5
838.8
2399.8
133.8
10586.1
839.6
2354.5
135.0
10526.6
837.7
2312.5
136.3
10452.7
837.4
2288.7
135.3
10397.5
837.3
2263.5
134.3
10337.5
838.7
2242.2
133.2
10290.7
840.8
2228.9
132.2
2
3
4
5
14518.2
14608.9
14327.3
14153.3
14037.8
13915.2
13813.0
13714.0
13632.6
13551.6
13492.6
10749.7
10697.4
10545.2
10419.0
10363.2
10288.9
10232.3
10164.5
10114.8
10058.5
10014.7
3611.8
928.8
2683.0
3748.0
878.1
2869.9
3615.2
757.9
2857.3
3567.2
744.9
2822.3
3507.0
726.0
2781.1
3458.0
708.7
2749.3
3413.6
686.2
2727.4
3380.6
665.5
2715.1
3344.3
640.7
2703.6
3318.6
624.7
2693.8
3303.7
619.9
2683.8
8
9
10
0.0
156.7
0.0
163.5
0.0
166.9
0.0
167.1
0.0
167.6
0.0
168.3
0.0
167.1
0.0
168.9
0.0
173.5
0.0
174.5
0.0
174.3
11
12
14518.2
14608.9
14327.3
14153.3
14037.8
13915.2
13813.0
13714.0
13632.6
13551.6
13492.6
13
14
15
16
Household sector
109.8
41.4
42.1
111.2
33.6
39.1
101.5
29.5
37.9
99.9
28.5
37.3
96.5
27.5
36.8
93.4
26.5
36.4
90.2
25.4
36.4
87.6
24.4
36.3
84.3
23.4
36.4
82.4
22.4
36.5
78.9
21.3
36.6
14
15
16
17
18

Federal government
167.3
82.4
163.3
95.8
171.8
108.4
179.0
107.1
177.1
108.4
176.8
106.6
176.1
106.6
176.1
107.8
174.9
109.3
172.5
109.3
172.4
110.6
17
18
19
20
21
22
23

Savings institutions (1)
Credit unions
3564.6
39.0
40.8
1094.0
281.5
3754.7
44.2
42.6
860.6
314.7
3738.6
37.8
42.3
633.3
317.9
3681.9
37.9
41.6
629.3
320.1
3634.1
36.2
36.5
619.3
322.6
3603.0
35.3
36.1
617.8
324.4
3580.1
35.4
35.8
614.8
320.8
3482.3
33.8
34.8
600.2
323.5
3455.0
33.0
33.9
590.9
324.0
3448.8
33.7
33.4
589.4
323.8
3462.2
32.8
33.4
586.2
330.4
19
20
21
22
23
24
25
26
27

4.8
326.2
10.2
9.7
5.0
342.4
11.1
9.4
4.4
326.1
13.6
9.3
4.3
321.4
14.6
9.4
4.2
317.9
15.7
9.3
4.2
318.2
15.2
9.4
4.1
317.5
15.0
9.4
4.1
318.4
14.2
9.2
4.3
323.1
13.4
9.2
4.6
329.2
12.5
9.3
4.7
333.2
13.2
9.3
24
25
26
27
28
29
30

ABS issuers
643.1
4464.4
2942.0
705.3
4961.4
2590.4
707.7
5376.7
2224.7
5104.4
980.2
2123.4
5084.4
1046.5
2048.7
5035.8
1096.0
1975.0
5021.0
1139.5
1898.9
5054.6
1187.0
1845.9
5018.4
1236.0
1784.6
4964.6
1277.3
1732.8
4928.2
1302.1
1677.1
28
29
30
31
32
Finance companies
REITs
531.9
123.1
447.9
76.3
397.4
48.3
386.9
46.4
371.1
45.0
361.2
43.9
344.2
41.9
331.0
42.7
319.5
58.8
311.2
58.0
303.2
56.7
31
32
(1) FHLB loans to savings institutions are included in other loans and advances.
98
Z.1, March 8, 2012
L.218 Home Mortgages (1)

2007
1
2
3
4
5
Total liabilities
Household sector
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
11173.1
11070.1
10870.9
10732.5
10665.5
10586.1
10526.6
10452.7
10397.5
10337.5
10290.7
10545.7
42.2
585.1
10496.5
32.7
540.9
10351.2
20.3
499.4
10227.5
18.4
486.6
10175.3
15.9
474.3
10104.6
14.8
466.7
10050.9
13.6
462.1
9984.9
12.4
455.4
9936.9
11.4
449.2
9882.4
10.7
444.4
9840.5
10.2
440.0
2
3
4
11173.1
11070.1
10870.9
10732.5
10665.5
10586.1
10526.6
10452.7
10397.5
10337.5
10290.7
Household sector
90.8
25.0
15.4
91.2
20.2
14.3
83.2
17.7
13.9
81.2
17.1
13.6
79.2
16.5
13.5
77.2
15.9
13.3
75.2
15.3
13.3
73.2
14.6
13.3
71.2
14.0
13.3
69.2
13.4
13.4
67.2
12.8
13.4
6
7
8
9
10

Federal government
85.7
13.7
83.8
16.4
88.2
22.1
91.8
23.2
90.9
23.9
90.5
23.6
89.8
23.9
89.7
24.3
89.1
24.9
87.8
24.5
87.8
24.8
9
10
11
12
13
14
15

Credit unions
2189.0
0.0
21.5
879.0
281.5
2217.3
7.0
22.9
666.3
314.7
2238.0
0.9
22.6
448.6
317.9
2198.8
1.1
22.3
444.5
320.1
2175.6
1.1
20.8
438.7
322.6
2173.2
1.1
20.5
437.0
324.4
2183.6
1.1
20.1
430.5
320.8
2108.6
1.1
18.8
419.3
323.5
2097.2
1.1
18.2
412.8
324.0
2111.2
1.3
17.9
410.9
323.8
2132.3
1.3
17.8
407.0
330.4
11
12
13
14
15
16
17
18

9.4
1.2
3.5
8.6
1.3
3.4
6.4
2.0
3.3
5.6
2.0
3.4
5.6
2.2
3.4
5.8
2.0
3.4
6.2
1.9
3.4
6.3
1.7
3.3
6.7
1.7
3.3
7.2
1.6
3.4
7.5
1.6
3.4
16
17
18
19
20
21
ABS issuers
447.9
4371.8
2184.4
456.6
4864.0
1872.5
445.4
5266.5
1554.0
4795.6
920.7
1463.5
4774.8
982.5
1402.2
4722.8
1028.5
1343.1
4701.5
1068.8
1281.9
4735.8
1112.5
1227.6
4701.4
1155.7
1178.9
4646.2
1194.5
1132.6
4608.4
1216.9
1087.9
19
20
21
22
23
Finance companies
REITs
472.7
80.7
375.4
34.3
327.7
12.6
317.0
11.0
303.3
8.9
295.3
8.7
280.6
8.9
270.0
9.0
261.4
22.6
254.7
24.0
247.2
23.0
22
23
1131.8
692.3
0.0
180.5
94.1
70.4
94.5
1115.0
775.2
0.8
119.5
98.7
45.7
75.1
1032.7
761.5
0.3
80.0
94.6
30.9
65.5
1013.9
751.2
0.3
78.4
92.7
27.9
63.4
996.1
741.0
0.3
76.6
91.8
25.8
60.7
975.9
726.6
0.3
75.5
90.3
24.2
59.1
950.2
709.3
0.3
74.0
88.2
22.3
56.1
926.0
692.1
0.3
72.3
86.6
20.7
54.0
904.8
677.2
0.3
70.6
84.9
19.6
52.3
888.6
666.1
0.3
68.8
83.8
18.6
50.9
873.0
655.5
0.3
67.6
82.7
17.7
49.4
24
25
26
27
28
29
30
6
7
8
24
25
26
27
28
29
30
Total assets
2008
Memo:
Home equity loans included above (2)
Credit unions
ABS issuers
Finance companies
(1) Mortgages on 1-4 family properties including mortages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.
L.219 Multifamily Residential Mortgages

1
Total liabilities
784.6
837.7
847.0
842.4
838.8
839.6
837.7
837.4
837.3
838.7
840.8
38.1
723.8
40.6
772.0
41.0
779.1
40.8
774.6
40.6
771.1
40.6
771.3
40.5
769.5
40.5
769.8
40.5
769.6
40.6
770.7
40.7
772.8
2
3
0.0
22.7
0.0
25.1
0.0
26.8
0.0
27.1
0.0
27.1
0.0
27.7
0.0
27.7
0.0
27.1
0.0
27.2
0.0
27.4
0.0
27.4
4
5
784.6
837.7
847.0
842.4
838.8
839.6
837.7
837.4
837.3
838.7
840.8
Household sector
0.0
0.6
14.3
0.0
0.5
13.3
0.0
0.5
12.9
0.0
0.4
12.7
0.0
0.4
12.5
0.0
0.4
12.4
0.0
0.4
12.3
0.0
0.4
12.3
0.0
0.4
12.4
0.0
0.3
12.4
0.0
0.3
12.4
7
8
9
10
11

Federal government
67.2
14.4
65.7
14.5
69.2
14.7
72.0
14.5
71.3
14.5
71.2
14.3
70.9
14.4
71.1
14.3
70.6
14.1
69.6
14.1
69.6
14.1
10
11
12
13
14

168.4
0.0
92.7
210.8
4.3
65.2
207.1
4.0
59.9
205.6
4.0
60.3
203.2
4.0
58.7
200.5
3.8
59.5
193.7
3.5
61.2
190.3
3.5
61.2
189.3
3.2
61.0
186.9
2.9
61.7
186.2
2.9
62.1
12
13
14
15
16
17

51.8
2.1
2.9
51.8
2.4
2.8
48.5
2.7
2.8
47.9
3.0
2.8
47.4
3.3
2.8
47.4
3.2
2.8
47.2
3.1
2.8
47.4
3.1
2.8
48.1
2.9
2.8
49.0
2.7
2.8
49.6
2.9
2.8
15
16
17
18
19
20
ABS issuers
147.7
88.1
124.0
190.2
92.8
113.2
204.4
105.7
107.4
249.7
56.1
106.5
249.2
60.1
104.8
251.3
63.7
102.7
256.5
66.9
98.7
256.1
71.3
98.0
254.6
77.1
95.4
256.4
81.1
93.5
258.3
83.5
91.1
18
19
20
21
22
Finance companies
REITs
5.1
5.2
5.8
4.3
5.1
2.3
4.7
2.1
4.5
2.1
4.4
2.0
4.1
1.9
3.8
1.8
3.6
1.8
3.4
1.7
3.3
1.7
21
22
2
3

4
5
Federal government
REITs
6
7
8
9
Total assets
99
Z.1, March 8, 2012
L.220 Commercial Mortgages

2007
1
2
3
4
5
6
Total liabilities
Household sector
REITs
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
2447.9
2566.4
2478.1
2445.9
2399.8
2354.5
2312.5
2288.7
2263.5
2242.2
2228.9
204.0
825.6
1284.3
134.0
200.9
776.0
1451.1
138.4
194.0
667.1
1476.9
140.1
191.5
655.7
1458.7
140.0
187.9
638.8
1432.5
140.5
184.3
622.1
1407.5
140.7
181.4
600.2
1391.4
139.4
179.6
580.5
1386.7
141.8
177.9
556.6
1382.7
146.3
176.1
541.1
1377.8
147.1
174.1
536.6
1371.3
146.9
2
3
4
5
2447.9
2566.4
2478.1
2445.9
2399.8
2354.5
2312.5
2288.7
2263.5
2242.2
2228.9
Household sector
19.1
15.8
11.5
20.0
13.0
10.7
19.2
11.4
10.4
18.8
11.0
10.2
18.2
10.6
10.1
17.5
10.2
10.0
16.7
9.8
10.0
15.8
9.4
10.0
14.8
9.0
10.0
13.6
8.6
10.0
12.4
8.2
10.1
7
8
9
10
11

Federal government
13.4
51.0
13.1
61.4
13.8
67.8
14.4
65.4
14.3
66.0
14.5
64.5
14.7
64.1
14.6
64.9
14.5
66.0
14.3
66.3
14.3
67.2
10
11
12
13
14
15

1165.3
39.0
19.3
121.5
1276.0
32.8
19.7
128.1
1243.5
32.9
19.6
123.9
1226.9
32.7
19.3
123.6
1204.3
31.1
15.7
121.1
1177.9
30.4
15.6
120.5
1151.0
30.8
15.7
122.2
1131.9
29.2
16.1
118.8
1117.4
28.7
15.7
116.2
1100.0
29.5
15.4
115.8
1093.3
28.5
15.6
116.0
12
13
14
15
16
17
18
19

4.8
252.2
6.8
3.3
5.0
267.1
7.4
3.2
4.4
257.7
8.9
3.2
4.3
254.6
9.6
3.2
4.2
251.8
10.2
3.2
4.2
252.0
10.0
3.2
4.1
251.3
9.9
3.2
4.1
252.1
9.4
3.1
4.3
255.8
8.8
3.1
4.6
260.6
8.2
3.2
4.7
263.8
8.7
3.2
16
17
18
19
20
21

ABS issuers
0.0
633.6
0.0
604.7
0.0
563.3
0.0
553.5
0.0
541.8
0.0
529.2
0.0
518.3
0.0
520.2
0.0
510.3
0.0
506.6
0.0
498.1
20
21
22
23
Finance companies
REITs
54.0
37.3
66.6
37.7
64.6
33.4
65.2
33.3
63.3
34.0
61.6
33.2
59.5
31.2
57.2
31.9
54.5
34.5
53.1
32.4
52.7
32.0
22
23
7
8
9
Total assets
2008
L.221 Farm Mortgages (1)

1
2
3
4
Total liabilities
Total assets
5
6
Household sector
7
8

Federal government
112.7
134.7
131.3
132.5
133.8
135.0
136.3
135.3
134.3
133.2
132.2
22.8
89.9
28.8
105.9
29.5
101.8
30.0
102.5
30.6
103.2
31.2
103.8
31.9
104.3
32.1
103.2
32.2
102.1
32.3
100.9
32.5
99.7
2
3
112.7
134.7
131.3
132.5
133.8
135.0
136.3
135.3
134.3
133.2
132.2
-0.0
0.8
0.0
0.8
-0.9
0.8
-0.1
0.7
-0.9
0.7
-1.3
0.7
-1.7
0.7
-1.4
0.7
-1.7
0.7
-0.5
0.7
-0.7
0.7
5
6
1.0
3.3
0.7
3.5
0.7
3.9
0.7
4.0
0.7
4.0
0.7
4.2
0.7
4.3
0.7
4.2
0.7
4.3
0.7
4.4
0.7
4.5
7
8
9
10
11

41.9
0.0
0.9
50.6
0.1
0.9
50.1
0.0
0.9
50.5
0.0
0.9
51.0
0.0
0.9
51.4
0.0
0.9
51.9
0.0
0.9
51.5
0.0
0.9
51.1
0.0
0.9
50.7
0.0
0.9
50.3
0.0
1.0
9
10
11
12
13

12.8
0.0
15.0
0.0
13.5
0.0
13.3
0.0
13.1
0.0
12.9
0.0
12.8
0.0
12.7
0.0
12.6
0.0
12.5
0.0
12.4
0.0
12
13
14
15
47.6
4.5
58.5
4.7
57.9
4.5
59.1
3.3
60.4
3.8
61.6
3.8
63.0
3.8
62.7
3.2
62.4
3.2
62.0
1.7
61.5
1.7
14
15
(1) Excludes mortgages on farm houses.
100
Z.1, March 8, 2012
L.222 Consumer Credit

2007
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Total liabilities (Households)
2555.3
2594.1
2478.9
2406.1
2387.5
2407.8
2434.7
2401.9
2424.3
2466.7
2521.0
Total assets
2555.3
2594.1
2478.9
2406.1
2387.5
2407.8
2434.7
2401.9
2424.3
2466.7
2521.0
58.6
0.0
98.4
59.8
0.0
111.0
57.2
0.0
186.0
53.5
0.0
209.8
52.8
0.0
222.6
52.4
0.0
280.3
56.0
0.0
316.4
52.8
0.0
355.2
53.1
0.0
370.1
53.1
0.0
406.1
57.0
0.0
425.1
3
4
5
3
4
5

Federal government
6
7
8

Credit unions
804.1
90.8
235.7
878.6
86.3
236.2
855.3
77.5
237.2
1149.2
78.0
228.0
1133.7
80.6
225.8
1115.2
82.1
224.9
1098.7
86.8
226.5
1058.9
84.7
218.1
1072.3
87.4
220.9
1073.8
89.3
223.9
1100.6
92.0
223.0
6
7
8
9
10
11
ABS issuers
Finance companies
0.0
683.7
584.1
0.0
646.4
575.8
0.0
577.9
487.8
0.0
150.7
536.9
0.0
144.8
527.2
0.0
136.6
516.3
0.0
131.7
518.6
0.0
122.4
509.8
0.0
118.7
501.8
0.0
116.1
504.3
0.0
116.9
506.3
9
10
11
L.223 Trade Credit

1
Total trade payables
Household sector
3
4
5
6

Federal government
7
8
Rest of the world

Brokers and dealers
Total trade receivables
3398.0
3228.0
3204.2
3277.4
3313.7
3387.6
3403.0
3477.3
3553.4
3618.8
3679.0
214.5
236.7
252.7
258.0
263.3
268.7
274.1
279.1
282.6
286.0
288.2
1897.9
374.9
553.5
238.2
1672.7
380.7
592.7
260.8
1587.5
388.3
630.4
204.6
1634.4
385.1
639.9
218.0
1657.7
379.7
649.5
227.4
1712.9
372.6
659.1
226.8
1748.5
368.3
668.8
226.7
1795.0
368.3
678.6
242.6
1862.2
371.0
688.5
249.3
1915.0
374.7
698.4
253.9
1973.1
374.2
708.2
255.3
3
4
5
6
73.1
45.8
63.2
21.2
70.6
70.1
79.7
62.2
84.0
52.0
92.3
55.1
98.4
18.1
95.1
18.5
80.4
19.3
74.5
16.4
65.8
14.2
7
8
3279.9
3097.1
2995.9
3055.7
3151.7
3186.1
3135.9
3224.7
3327.4
3371.5
3327.9
2253.0
525.6
2081.1
522.7
2050.5
496.3
2104.5
487.9
2203.3
481.5
2241.3
476.8
2189.8
476.1
2275.9
476.0
2373.8
476.4
2408.3
477.9
2366.2
479.7
10
11
10
11

12
13
14

Federal government
Rest of the world
159.9
60.6
83.6
156.4
64.7
90.1
164.6
43.6
96.7
171.5
45.0
106.8
169.7
42.0
114.4
172.1
42.7
111.9
175.4
42.9
116.1
174.2
44.7
115.9
173.0
47.0
117.8
170.7
46.7
131.7
170.7
44.8
132.4
12
13
14
15
16

ABS issuers
85.4
111.7
86.7
95.5
83.0
61.3
84.8
55.1
86.7
54.1
87.1
54.2
83.8
51.8
84.4
53.6
88.2
51.1
88.7
47.5
86.7
47.5
15
16
118.1
130.9
208.3
221.7
162.0
201.4
267.1
252.6
226.0
247.3
351.1
17
17
Discrepancy
L.224 Security Credit

1
Total liabilities
2
3
Household sector
Rest of the world
4
5
6
7
Brokers and dealers

Total assets
1526.4
1128.5
1091.2
1108.8
1146.1
1173.7
1214.8
1258.1
1323.8
1380.9
1312.4
325.5
0.0
164.8
0.0
203.0
0.0
196.4
0.0
217.0
0.0
233.7
0.0
278.2
0.0
315.7
0.0
312.8
0.0
251.9
0.0
238.5
0.0
2
3
1200.9
866.4
145.9
188.6
963.6
742.7
158.6
62.3
888.2
668.6
158.0
61.6
912.4
680.0
160.0
72.3
929.1
686.0
164.5
78.6
940.0
696.8
144.1
99.2
936.6
694.3
152.3
90.1
942.3
703.3
152.1
86.9
1011.0
757.7
163.2
90.1
1128.9
804.9
186.9
137.2
1073.9
752.3
189.8
131.7
4
5
6
7
1526.4
1128.5
1091.2
1108.8
1146.1
1173.7
1214.8
1258.1
1323.8
1380.9
1312.4
9
10
Household sector
Rest of the world
866.4
0.0
742.7
0.0
668.6
0.0
680.0
0.0
686.0
0.0
696.8
0.0
694.3
0.0
703.3
0.0
757.7
0.0
804.9
0.0
752.3
0.0
9
10
11
12
13

Brokers and dealers
145.9
188.6
325.5
158.6
62.3
164.8
158.0
61.6
203.0
160.0
72.3
196.4
164.5
78.6
217.0
144.1
99.2
233.7
152.3
90.1
278.2
152.1
86.9
315.7
163.2
90.1
312.8
186.9
137.2
251.9
189.8
131.7
238.5
11
12
13
101
Z.1, March 8, 2012
L.225 Life Insurance and Pension Fund Reserves

2007
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Life insurance reserves:

1
2
3
4
5
6
7
Total liabilities
Federal government
Households
1201.5
1179.8
1242.1
1249.5
1235.7
1261.9
1278.3
1297.8
1311.2
1318.5
1338.9
45.4
1156.1
46.4
1133.4
47.5
1194.5
47.4
1202.1
47.6
1188.1
47.8
1214.1
48.4
1229.9
48.5
1249.3
48.9
1262.3
49.2
1269.2
49.7
1289.3
2
3
1201.5
1179.8
1242.1
1249.5
1235.7
1261.9
1278.3
1297.8
1311.2
1318.5
1338.9
1076.8
104.3
20.5
1049.8
110.7
19.3
1109.2
111.5
21.4
1115.4
112.1
22.0
1098.5
112.8
24.3
1122.8
114.4
24.7
1137.2
116.0
25.1
1155.3
117.3
25.1
1167.8
118.4
25.0
1172.6
119.3
26.5
1190.6
120.8
27.6
5
6
7
13390.7
10408.5
11914.5
12291.0
11610.2
12331.9
13088.3
13483.5
13412.8
12466.6
13160.9
Pension fund reserves:

8
Total liabilities
9
10

Private pension funds (1)
2450.8
6444.8
2184.6
4588.0
2323.0
5507.4
2371.5
5745.0
2305.3
5352.4
2406.1
5765.0
2504.7
6134.3
2565.6
6363.6
2586.6
6368.8
2513.1
5754.4
2568.0
6117.3
9
10
11
12

Federal government retirement funds (2)
3297.9
1197.2
2414.7
1221.2
2759.8
1324.4
2856.7
1317.7
2641.4
1311.0
2815.4
1345.5
3024.0
1425.3
3131.3
1423.1
3116.3
1341.1
2771.4
1427.6
2965.8
1509.7
11
12
13390.7
10408.5
11914.5
12291.0
11610.2
12331.9
13088.3
13483.5
13412.8
12466.6
13160.9
13
13
Total assets (Households) (3)
(1) Includes unallocated insurance company contracts beginning 1985:Q4.

(2) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.
(3) Excludes all individual retirement accounts (IRAs) (table L.225.i), except those at life insurance companies.
L.226 Taxes Payable by Businesses

1
Total taxes payable by all businesses
167.7
44.0
40.6
49.5
43.7
53.9
51.8
78.2
66.5
68.6
72.1
2
3

35.8
99.5
39.0
106.2
35.7
99.9
49.5
97.7
43.9
96.1
47.1
94.9
39.1
94.7
57.3
94.7
47.0
94.8
53.0
95.2
48.2
95.6
2
3
4
5

11.1
1.3
-74.6
1.0
-67.5
1.3
-73.6
1.6
-64.6
1.1
-64.8
1.0
-60.6
1.0
-56.4
1.5
-51.2
0.9
-47.9
1.0
-50.5
1.3
4
5
6
7

7.0
-4.7
-21.1
-24.4
-15.8
-31.4
-12.6
-30.0
-19.1
-30.6
-15.7
-27.7
-10.1
-28.8
-7.9
-27.9
-13.1
-29.1
-19.4
-30.3
-14.1
-23.6
6
7
8
9
Finance companies
Brokers and dealers
15.5
2.2
15.4
2.5
12.7
5.7
12.6
4.4
12.6
4.4
12.8
6.4
12.9
3.6
12.8
4.2
12.8
4.3
13.3
3.7
12.9
2.1
8
9
342.5
389.3
416.1
420.9
429.9
442.4
448.9
458.2
466.8
463.0
474.0
10
237.5
105.0
269.8
119.4
280.9
135.1
281.8
139.1
286.9
143.0
295.5
146.9
298.0
150.8
303.5
154.8
308.2
158.7
300.4
162.6
307.5
166.5
11
12
-174.8
-345.3
-375.5
-371.4
-386.2
-388.5
-397.1
-380.0
-400.3
-394.5
-401.9
13
10
11
12
13
Total business taxes receivable

Federal government
Discrepancy
L.227 Proprietors Equity in Noncorporate Business

1
2
3
Total household equity

Brokers and dealers
8951.2
7314.6
6428.9
6632.6
7004.3
6717.7
7162.7
7169.3
7145.0
7525.8
7298.7
8939.6
11.6
7305.1
9.5
6416.8
12.1
6618.4
14.2
6990.3
14.0
6704.7
13.0
7149.0
13.8
7155.9
13.4
7131.9
13.1
7514.1
11.7
7288.4
10.4
2
3
102
Z.1, March 8, 2012
L.228 Total Miscellaneous Financial Claims

2007
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
17441.8
19846.9
19678.3
19623.7
20415.9
20149.4
20433.6
20318.7
20416.6
21639.8
21267.7
2
3
4
Household sector
23.9
4048.6
1100.0
27.0
4243.9
1214.3
22.1
4222.2
1247.4
24.6
4167.2
1255.5
25.5
4165.6
1263.1
22.6
4160.7
1271.0
24.7
4136.0
1279.2
25.2
4084.1
1287.9
25.6
3986.4
1298.1
24.4
3849.6
1309.5
24.3
3775.5
1321.9
2
3
4
5
6
Federal government
Rest of the world
1094.2
4942.4
1183.5
5813.9
1261.6
5669.2
1243.8
5747.8
1249.1
6396.8
1269.6
5924.5
1349.4
6323.8
1335.1
6342.1
1242.0
6481.8
1358.1
7514.8
1438.3
7116.5
5
6
7
8
9
10
11
12
13
Monetary authority
Credit unions
21.0
1103.1
299.6
328.3
26.2
102.4
3.6
23.1
1258.1
849.4
422.9
21.7
72.3
4.7
29.2
1409.2
431.3
548.0
25.0
21.8
19.4
28.7
1425.2
433.4
545.8
22.2
22.4
11.4
31.6
1513.7
533.8
543.0
26.1
20.3
12.0
29.7
1590.5
628.8
553.6
21.6
20.5
12.4
58.4
1518.2
438.7
514.2
20.0
20.2
11.0
29.3
1510.8
480.7
525.6
18.8
20.5
11.6
27.0
1590.3
542.4
523.9
17.2
19.6
12.2
27.7
1637.7
737.6
513.8
20.2
22.7
11.5
31.7
1634.6
697.7
476.6
14.8
22.5
11.9
7
8
9
10
11
12
13
14
15

811.1
1010.6
811.0
905.0
832.6
985.6
831.2
1012.6
839.9
1049.3
844.6
1074.7
844.6
1089.8
845.8
1115.5
857.4
1109.1
864.6
1089.2
850.7
1115.4
14
15
16
17
Finance companies
171.1
654.4
208.2
664.8
270.4
573.6
222.3
571.0
171.8
568.7
137.3
570.4
154.6
561.7
140.5
550.0
137.7
556.9
130.7
567.4
138.0
553.2
16
17
18
19
20
REITs
Brokers and dealers
67.6
558.4
1075.3
64.9
441.4
1616.7
51.1
460.1
1598.7
65.0
478.5
1515.1
68.9
447.8
1488.8
67.6
477.1
1472.5
66.0
497.5
1525.5
70.1
493.7
1431.4
72.9
510.6
1405.5
75.6
477.5
1407.3
78.5
496.5
1469.2
18
19
20
24589.6
24654.0
24976.5
25045.0
25597.0
25684.1
25799.7
25746.6
25904.0
26803.4
26790.9
21
21
Total liabilities
2008
Total assets
22
23
24
Household sector
712.2
9877.0
2014.3
766.3
9358.3
2121.8
787.1
9533.1
2040.0
788.1
9698.2
2006.2
798.4
9736.8
1980.3
811.9
9860.1
1961.6
830.6
10080.3
1958.4
832.3
10143.1
1958.6
834.1
10205.6
1961.3
852.3
10226.1
1967.6
864.1
10501.5
1973.3
22
23
24
25
26
27

Federal government
Rest of the world
-26.7
138.7
4484.6
-13.0
110.8
4138.7
4.3
145.8
4116.2
50.1
147.2
4095.3
60.8
130.5
4600.7
58.8
136.8
4453.6
53.2
141.4
4557.5
34.3
141.0
4408.5
25.3
142.7
4472.9
22.1
143.2
5064.7
3.6
144.9
4724.4
25
26
27
28
29
30
31
32
33
34
Monetary authority
Credit unions
40.5
780.5
-104.9
1803.2
12.1
115.5
35.9
569.8
1118.9
259.7
1986.4
11.1
90.0
44.2
75.9
947.4
143.9
2779.7
6.5
83.8
50.6
68.2
910.2
135.8
2751.7
7.5
82.7
43.5
68.6
950.7
229.5
2787.4
13.3
80.4
40.8
67.2
918.0
197.2
2839.6
12.1
78.9
47.9
83.1
866.4
148.7
2715.8
11.0
75.8
41.9
92.8
870.1
182.6
2759.7
10.9
77.6
42.8
105.0
869.7
252.0
2768.6
11.9
76.7
20.5
104.6
935.1
374.8
2767.1
16.7
78.4
23.4
225.8
881.1
371.8
2766.8
11.8
76.2
13.0
28
29
30
31
32
33
34
35
36
37
38
39

121.1
342.9
567.1
15.7
952.0
102.6
380.1
426.5
15.7
1015.3
128.0
357.6
533.3
16.2
1077.2
129.9
361.9
545.5
16.3
1060.6
128.6
389.4
519.2
16.5
1064.8
131.8
389.0
543.5
16.9
1081.5
143.1
360.3
549.4
17.0
1142.9
140.6
341.0
559.1
17.3
1128.8
142.6
355.0
554.1
17.3
1042.1
142.5
348.7
503.7
18.0
1149.3
146.3
326.2
536.8
18.2
1213.7
35
36
37
38
39
40
41
42

Mutual funds
90.9
16.8
141.7
47.9
20.0
99.1
59.1
14.9
100.3
54.8
8.3
129.5
58.1
2.8
120.1
59.8
-4.1
146.4
66.9
2.9
148.6
65.2
5.5
108.8
64.0
13.4
109.2
68.3
14.4
154.0
72.7
14.4
147.0
40
41
42
43
44
45
46
Finance companies
REITs
Brokers and dealers
18.2
55.4
1633.7
751.5
30.0
54.6
1105.7
793.5
61.9
46.1
1141.0
726.3
45.3
48.6
1148.1
711.7
52.2
54.5
1047.3
665.2
46.5
58.8
1062.2
708.0
46.0
53.5
1025.3
679.8
53.5
59.6
1005.5
707.4
57.3
63.3
1026.2
713.1
63.6
65.0
1004.5
695.5
58.3
64.3
932.0
702.6
43
44
45
46
-7147.8
-4807.1
-5298.2
-5421.3
-5181.1
-5534.7
-5366.2
-5427.8
-5487.4
-5163.6
-5523.2
47
47
Discrepancy
103
Z.1, March 8, 2012
L.229 Identified Miscellaneous Financial Claims - Part I

2007
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
U.S. direct investment abroad:

1
2
3
4
5
6
7

Finance companies
Brokers and dealers
3553.1
2892.9
150.3
121.1
25.6
177.9
185.3
3748.5
3011.1
201.5
102.6
25.0
221.0
187.4
4067.5
3294.0
241.2
128.0
28.1
204.9
171.4
4184.1
3404.4
239.3
129.9
28.7
203.8
178.0
4260.2
3471.6
243.2
128.6
29.8
207.1
179.9
4345.7
3545.5
243.9
131.8
30.1
212.0
182.3
4429.4
3585.2
257.1
143.1
32.1
224.6
187.4
4528.1
3681.6
259.1
140.6
32.2
225.3
189.3
4673.1
3815.2
259.2
142.6
33.7
231.4
191.0
4752.5
3894.1
253.2
142.5
35.7
234.1
192.9
4819.8
3950.4
251.2
146.3
38.4
239.4
194.0
1
2
3
4
5
6
7
Foreign direct investment in U.S.:

8
9
10
11
12
13
14
15

Finance companies
Brokers and dealers
1961.9
3.6
94.2
76.6
68.7
68.6
62.6
9.6
2050.3
3.6
71.7
51.2
60.3
78.1
72.1
10.2
2025.8
4.0
104.9
77.8
68.9
75.0
74.5
10.8
2070.8
4.3
108.3
77.3
70.3
75.3
75.7
11.0
2099.2
4.3
110.6
79.3
71.7
75.7
76.9
11.1
2166.0
4.3
113.1
79.5
73.3
77.3
87.7
11.3
2175.2
4.3
111.3
83.5
86.8
83.6
103.0
11.4
2199.5
4.3
115.2
85.1
81.8
84.7
104.7
11.6
2247.7
4.3
118.6
83.5
80.8
87.6
108.6
11.7
2320.1
4.3
125.0
83.2
78.7
87.1
112.6
11.9
2373.6
4.4
131.6
80.7
77.0
88.9
115.9
12.0
8
9
10
11
12
13
14
15
16
Asset: Rest of the world
2345.9
2397.4
2441.7
2492.9
2528.7
2612.6
2658.9
2686.7
2742.9
2822.9
2884.0
16
46.9
46.9
48.3
48.3
50.0
50.0
50.4
50.4
51.8
51.8
52.1
52.1
52.3
52.3
52.9
52.9
54.3
54.3
54.7
54.7
56.1
56.1
17
18
18.5
18.5
21.1
21.1
25.6
25.6
26.3
26.3
26.6
26.6
26.7
26.7
26.5
26.5
26.3
26.3
26.5
26.5
26.0
26.0
26.9
26.9
19
20
Federal government equity in IBRD, etc.:

17
18

Federal Reserve Bank stock:
19
20

Equity in government-sponsored enterprises:
21
56.0
51.8
51.8
51.0
50.5
50.6
49.0
48.6
44.2
43.5
43.1
21
22
23
24
25
26
27
28
Asset: Nonfin. corporate business (Fannie Mae and FCS)

Nonfinancial noncorporate (FCS)
Federal government
U.S.-chartered commercial banks (FHLB)
Savings institutions (FHLB)
0.7
5.0
0.0
26.7
18.8
2.5
2.2
0.4
6.4
0.0
25.6
13.4
2.8
3.2
0.5
6.3
0.0
24.7
15.0
2.4
2.9
0.5
6.4
0.0
24.1
15.0
2.4
2.8
0.4
6.4
0.0
23.7
14.8
2.4
2.9
0.5
6.7
0.0
24.0
14.0
2.4
2.9
0.6
6.7
0.0
22.9
13.8
2.2
2.9
0.7
6.7
0.0
23.1
13.2
2.2
2.9
0.6
6.8
0.0
18.0
14.0
2.0
2.7
0.5
7.0
0.0
17.7
13.5
2.0
2.7
0.5
7.0
0.0
17.7
12.9
2.1
2.9
22
23
24
25
26
27
28
BHC investment in subsidiaries:

29
30
31
32
33
Liab.: U.S.-chartered commercial banks

Finance companies
Brokers and dealers
1197.8
10.9
43.7
239.9
49.9
1244.4
13.4
31.2
232.6
109.2
1413.5
24.0
40.5
209.3
635.3
1408.5
24.0
43.2
181.5
659.0
1431.6
23.7
46.9
179.0
661.0
1452.4
24.3
50.8
178.3
683.2
1366.8
23.0
62.7
173.1
634.6
1358.8
23.2
64.5
148.8
663.7
1399.6
22.7
67.4
154.9
610.4
1428.9
22.4
74.6
154.5
577.6
1426.3
21.7
72.0
154.7
593.4
29
30
31
32
33
34
Asset: Bank holding companies
1542.2
1630.9
2322.6
2316.1
2342.2
2389.0
2260.2
2259.0
2255.0
2258.0
2268.1
34
81.5
81.5
80.5
80.5
71.2
71.2
95.9
95.9
94.6
94.6
94.2
94.2
91.5
91.5
108.7
108.7
113.2
113.2
112.9
112.9
113.0
113.0
35
36
NFC inv. in finance company subs.:

35
36
Liab.: Finance companies

Funding corp. investment in subs.:
37
38
Liab.: Foreign banking offices in U.S.

Brokers and dealers
241.0
510.5
276.6
516.9
203.1
523.2
189.2
522.5
150.4
514.8
177.1
531.0
171.6
508.2
188.9
518.5
173.4
539.7
140.1
555.4
137.8
564.8
37
38
39
Asset: Funding corporations
751.5
793.5
726.3
711.7
665.2
708.0
679.8
707.4
713.1
695.5
702.6
39
0.0
0.0
0.0
0.0
0.0
0.0
1.8
0.9
0.9
4.2
2.1
2.1
6.2
3.1
3.1
7.1
3.6
3.6
7.7
3.8
3.8
7.8
3.9
3.9
8.3
4.1
4.1
8.7
4.4
4.4
8.8
4.4
4.4
40
41
42
Equity investment under Public-Private Inv. Program:

40
41
42

Asset: Households (1)
Federal government
(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
104
Z.1, March 8, 2012
L.230 Identified Miscellaneous Financial Claims - Part II

2007
2008
2009
2010
Q1
Q2
2011
Q3
Q4
Q1
Q2
Q3
Q4
Nonofficial foreign currencies:

1
2
3

24.5
0.5
24.0
554.2
0.5
553.7
10.9
0.7
10.3
0.7
0.7
0.0
2.1
0.8
1.2
0.9
0.9
0.1
0.8
0.8
0.1
0.7
0.7
0.0
1.0
1.0
0.0
1.6
1.1
0.5
101.1
1.3
99.8
1
2
3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
4
5
20.9
20.9
15.5
15.5
15.9
15.9
21.1
21.1
17.8
17.8
19.7
19.7
14.4
14.4
15.0
15.0
14.1
14.1
16.3
16.3
12.0
12.0
6
7
23.9
23.9
27.0
27.0
22.1
22.1
24.6
24.6
25.5
25.5
22.6
22.6
24.7
24.7
25.2
25.2
25.6
25.6
24.4
24.4
24.3
24.3
8
9
Postal Savings System deposits:

4
5

Deposits at Federal Home Loan Banks:
6
7

Asset: Savings institutions
Deferred and unpaid life insurance premiums:
8
9

Asset: Life insurance companies
Life insurance company reserves:
10
11
12
13

Accident and health
Policy dividend accumulation
Contract claims
247.6
163.3
43.7
40.6
265.2
182.7
40.4
42.1
273.6
192.4
39.2
42.0
275.0
192.8
39.1
43.0
280.0
196.9
38.8
44.3
286.7
203.1
39.1
44.4
288.4
207.1
39.7
41.6
291.2
208.9
39.9
42.4
293.8
213.2
38.6
41.9
300.4
219.4
38.5
42.6
303.2
222.4
38.2
42.6
10
11
12
13
14
247.6
265.2
273.6
275.0
280.0
286.7
288.4
291.2
293.8
300.4
303.2
14
Policy payables:
15
Liab.: Property-casualty insurance companies
734.5
759.9
754.8
753.9
760.6
765.1
761.2
760.7
773.9
781.4
770.0
15
16
17
18

327.3
299.9
107.3
337.3
311.1
111.5
332.2
310.2
112.4
331.7
309.9
112.3
334.8
312.8
113.0
337.3
314.6
113.2
335.4
313.2
112.5
334.4
313.3
113.0
339.7
319.1
115.1
342.1
322.5
116.8
335.1
318.5
116.4
16
17
18
431.3
431.3
317.6
317.6
412.8
412.8
429.9
429.9
408.0
408.0
433.8
433.8
457.5
457.5
471.7
471.7
471.0
471.0
420.9
420.9
450.8
450.8
19
20
47.2
47.2
47.9
47.9
50.5
50.5
49.9
49.9
49.6
49.6
49.4
49.4
49.2
49.2
49.0
49.0
49.0
49.0
49.1
49.1
49.4
49.4
21
22
1240.2
1240.2
887.0
887.0
856.8
856.8
849.2
849.2
765.6
765.6
773.5
773.5
733.4
733.4
709.6
709.6
727.8
727.8
727.0
727.0
658.4
658.4
23
24
952.0
952.0
1015.3
1015.3
1077.2
1077.2
1060.6
1060.6
1064.8
1064.8
1081.5
1081.5
1142.9
1142.9
1128.8
1128.8
1042.1
1042.1
1149.3
1149.3
1213.7
1213.7
25
26
137.3
137.3
163.8
163.8
180.4
180.4
179.3
179.3
180.5
180.5
184.4
184.4
202.9
202.9
202.8
202.8
196.5
196.5
205.4
205.4
221.4
221.4
27
28
Unallocated insurance company contracts:

19
20

Pension fund contributions payable:
21
22

Securities borrowed (net):
23
24

Asset: Brokers and dealers
Nonmarketable government securities:
25
26

Asset: Federal government retirement funds
Retiree health care funds (2):
27
28

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
105
Z.1, March 8, 2012
L.231 Unidentified Miscellaneous Financial Claims

2007
2008
2009
2010
Q1
Total liabilities
Q2
2011
Q3
Q4
Q1
Q2
Q3
Q4
5186.9
7021.6
6264.7
6047.0
6835.6
6245.9
6502.9
6238.6
6191.3
7189.3
6541.2
2
3

2039.5
1096.4
2145.7
1210.7
2146.0
1243.3
2046.4
1251.2
2016.8
1258.9
1945.2
1266.7
1911.6
1274.9
1835.6
1283.6
1689.7
1293.8
1480.4
1305.1
1352.5
1317.5
2
3
4
5
6
Federal government
Rest of the world
Monetary authority
4.9
1318.0
2.5
4.3
1462.8
2.1
4.0
1540.8
3.6
3.9
1512.6
2.5
3.8
2082.9
5.0
3.7
1525.8
3.0
3.6
1841.2
31.9
3.5
1760.4
3.0
3.4
1753.5
0.5
3.3
2706.0
1.7
3.2
2139.5
4.8
4
5
6
7
8
9
10

-94.7
-35.6
328.3
26.2
13.6
501.1
422.9
21.7
-4.4
123.2
548.0
25.0
16.7
135.9
545.8
22.2
82.1
272.8
543.0
26.1
138.1
338.6
553.6
21.6
151.4
155.9
514.2
20.0
152.0
176.6
525.6
18.8
190.6
250.3
523.9
17.2
208.9
472.5
513.8
20.2
208.2
428.3
476.6
14.8
7
8
9
10
11
12
13
14
Credit unions
91.5
3.6
219.3
94.3
58.9
4.7
230.8
141.0
-2.2
19.4
189.8
202.8
-1.6
11.4
194.3
150.2
-3.4
12.0
242.7
103.5
-3.8
12.4
230.2
67.0
-2.8
11.0
194.4
91.2
-2.8
11.6
206.4
76.8
-3.1
12.2
196.1
79.4
0.3
11.5
214.6
71.0
0.8
11.9
212.4
83.0
11
12
13
14
15
16
17
18
Finance companies
REITs
Brokers and dealers
264.4
67.6
-64.6
-174.5
273.7
64.9
-256.8
719.5
218.1
51.1
-773.0
729.3
218.3
65.0
-778.6
650.7
219.4
68.9
-804.8
706.0
220.6
67.6
-824.9
680.6
213.5
66.0
-748.2
773.1
207.7
70.1
-793.1
702.5
201.3
72.9
-748.1
657.7
212.9
75.6
-768.1
659.8
196.7
78.5
-777.6
790.1
15
16
17
18
12334.7
11828.7
11562.9
11468.3
12016.7
11780.6
11869.0
11666.4
11678.7
12352.9
12064.4
19
19
Total assets
20
21
22

6601.9
1902.0
-26.7
5955.2
2003.9
-13.0
5857.3
1921.3
4.3
5887.6
1887.5
50.1
5857.5
1860.8
60.8
5905.3
1841.7
58.8
6089.9
1839.2
53.2
6038.8
1839.0
34.3
5957.5
1839.3
25.3
5896.0
1843.9
22.1
6119.1
1849.9
3.6
20
21
22
23
24
25
Federal government
Rest of the world
Monetary authority
91.4
2138.7
16.5
62.0
1741.3
16.1
94.3
1674.5
65.6
94.0
1602.4
68.2
74.8
2072.0
67.3
80.3
1841.0
67.1
84.5
1898.6
83.0
83.6
1721.8
92.8
83.3
1730.1
105.0
83.0
2241.8
104.1
83.2
1840.4
126.0
23
24
25
26
27
28
29

585.1
-104.9
261.0
12.1
870.8
259.7
355.5
11.1
655.8
143.9
457.2
6.5
620.6
135.8
435.7
7.5
657.2
229.5
445.3
13.3
623.4
197.2
450.6
12.1
559.9
148.7
455.5
11.0
561.7
182.6
500.7
10.9
566.0
252.0
513.6
11.9
638.3
374.8
509.1
16.7
585.2
371.8
498.7
11.8
26
27
28
29
30
31
Credit unions
75.7
33.4
61.1
41.5
52.9
48.3
46.6
41.1
47.8
38.4
45.1
45.5
47.6
39.7
49.5
40.6
48.6
18.5
48.6
21.4
51.3
10.9
30
31
32
33
34

291.2
88.6
15.7
324.9
61.0
15.7
304.5
70.0
16.2
305.8
65.7
16.3
331.2
61.6
16.5
333.4
60.4
16.9
300.6
42.8
17.0
280.7
38.4
17.3
292.9
34.1
17.3
285.9
33.7
18.0
260.6
36.6
18.2
32
33
34
35
36
37
Mutual funds
16.8
90.9
141.7
20.0
47.9
99.1
14.9
59.1
100.3
8.3
54.8
129.5
2.8
58.1
120.1
-4.1
59.8
146.4
2.9
66.9
148.6
5.5
65.2
108.8
13.4
64.0
109.2
14.4
68.3
154.0
14.4
72.7
147.0
35
36
37
38
39
40
Finance companies
REITs
Brokers and dealers
-159.7
55.4
208.1
-191.0
54.6
31.3
-143.0
46.1
112.9
-158.5
48.6
121.0
-154.9
54.5
101.9
-165.5
58.8
106.4
-178.6
53.5
104.6
-171.8
59.6
106.6
-174.1
63.3
107.4
-170.5
65.0
84.5
-181.1
64.3
79.6
38
39
40
-7147.8
-4807.1
-5298.2
-5421.3
-5181.1
-5534.7
-5366.2
-5427.8
-5487.4
-5163.6
-5523.2
41
41
Discrepancy
106
Z.1, March 8, 2012
B.100 Balance Sheet of Households and Nonprofit Organizations (1)

2007
1
2
3
4
5
6
7
8
Assets
Nonfinancial assets
Real estate
Households (2,3)
Nonprofit organizations
Equipment and software owned by
nonprofit organizations (4)
Consumer durable goods (4)
Financial assets
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
79544.5
66688.6
69172.9
70330.6
69141.0
70234.1
72729.8
73770.3
73583.4
71032.7
72229.0
27970.0
24454.0
23738.6
23876.6
24024.9
23416.8
23477.4
23227.7
23321.2
23428.7
23161.8
23239.6
20855.4
2384.2
19603.6
17538.5
2065.1
18872.9
17151.7
1721.2
19009.7
17228.8
1780.9
19154.5
17225.9
1928.6
18540.7
16722.8
1817.9
18586.2
16570.7
2015.5
18283.4
16278.3
2005.1
18300.3
16319.6
1980.7
18356.9
16176.8
2180.1
18056.4
15963.6
2092.9
3
4
5
262.0
4468.3
283.6
4566.8
294.1
4571.6
295.5
4571.3
299.7
4570.7
304.6
4571.5
309.4
4581.8
315.2
4629.1
322.1
4698.7
329.2
4742.6
336.4
4769.0
6
7
51574.6
42234.6
45434.3
46454.0
45116.1
46817.3
49252.4
50542.5
50262.2
47604.0
49067.2
9
10
11
12
13
Deposits
Foreign deposits
7406.0
80.5
90.3
5888.5
1346.7
8013.5
56.9
292.0
6082.8
1581.8
7883.9
50.5
330.3
6190.0
1313.1
7808.6
50.6
237.4
6322.0
1198.7
7715.7
52.8
198.2
6324.6
1140.0
7719.9
53.3
156.1
6384.6
1125.9
7790.1
54.8
185.3
6420.3
1129.7
7782.1
57.5
161.5
6464.5
1098.6
7922.2
56.6
163.6
6615.2
1086.8
8035.4
56.1
229.9
6648.7
1100.7
8172.4
53.2
304.8
6707.7
1106.7
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23

Open market paper
Treasury securities
Savings bonds
Other Treasury
Mortgages
4936.6
107.3
264.6
196.4
68.3
689.2
1725.4
2022.7
17.6
109.8
4865.2
6.0
256.5
194.0
62.6
733.5
1766.7
1961.6
29.7
111.2
5096.7
34.6
815.5
191.2
624.3
139.0
1896.5
2082.7
26.8
101.5
5192.1
44.6
972.5
190.2
782.3
107.9
1930.0
2011.6
25.7
99.9
5310.2
54.2
1157.2
189.6
967.6
148.9
1934.0
1893.5
25.9
96.5
5252.9
63.0
1180.8
188.7
992.1
182.0
1916.5
1790.7
26.4
93.4
5314.4
63.4
1115.9
187.9
928.0
219.0
1957.9
1841.9
26.2
90.2
5288.3
67.9
1025.4
186.8
838.6
306.7
1959.3
1815.7
25.8
87.6
5048.4
64.9
847.9
186.0
662.0
279.7
1928.1
1818.5
24.9
84.3
4987.9
60.3
918.1
185.1
733.0
232.1
1902.1
1768.2
24.7
82.4
4933.1
58.2
958.9
185.2
773.7
196.1
1879.4
1737.0
24.7
78.9
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30

Mutual fund shares (6)
Security credit
Equity in noncorporate business (7)
9636.8
4597.9
866.4
1076.8
13390.7
8951.2
712.2
5746.9
3327.2
742.7
1049.8
10408.5
7314.6
766.3
7408.7
4136.7
668.6
1109.2
11914.5
6428.9
787.1
7649.4
4296.9
680.0
1115.4
12291.0
6632.6
788.1
6918.7
3974.2
686.0
1098.5
11610.2
7004.3
798.4
7863.7
4299.6
696.8
1122.8
12331.9
6717.7
811.9
8663.1
4571.7
694.3
1137.2
13088.3
7162.7
830.6
9211.7
4916.7
703.3
1155.3
13483.5
7169.3
832.3
9008.2
4965.9
757.7
1167.8
13412.8
7145.0
834.1
7415.2
4343.3
804.9
1172.6
12466.6
7525.8
852.3
8140.2
4554.7
752.3
1190.6
13160.9
7298.7
864.1
24
25
26
27
28
29
30
14346.4
14229.7
14048.0
13930.5
13892.2
13874.7
13905.7
13835.8
13829.5
13768.3
13773.9
31
13782.4
10545.7
2555.3
250.7
99.7
127.0
204.0
13801.1
10496.5
2594.1
258.7
117.7
133.2
200.9
13570.2
10351.2
2478.9
264.6
147.8
133.7
194.0
13451.5
10227.5
2406.1
265.7
226.4
134.3
191.5
13386.4
10175.3
2387.5
263.5
237.5
134.7
187.9
13349.7
10104.6
2407.8
260.8
256.3
135.8
184.3
13328.6
10050.9
2434.7
262.3
263.2
136.1
181.4
13215.7
9984.9
2401.9
261.9
251.0
136.4
179.6
13208.4
9936.9
2424.3
260.7
271.7
136.9
177.9
13205.9
9882.4
2466.7
256.1
286.8
137.8
176.1
13222.9
9840.5
2521.0
254.4
294.8
138.0
174.1
32
33
34
35
36
37
38
325.5
214.5
164.8
236.7
203.0
252.7
196.4
258.0
217.0
263.3
233.7
268.7
278.2
274.1
315.7
279.1
312.8
282.6
251.9
286.0
238.5
288.2
39
40
23.9
27.0
22.1
24.6
25.5
22.6
24.7
25.2
25.6
24.4
24.3
41
31
Liabilities
32
33
34
35
36
37
38

Home mortgages (8)
Consumer credit
Bank loans n.e.c.
Commercial mortgages (9)
39
40
Security credit
Trade payables (9)
Deferred and unpaid
41
42
Net worth
65198.2
52458.9
55124.9
56400.0
55248.8
56359.4
58824.1
59934.5
59753.8
57264.4
58455.1
42
43
44
45
46
Memo:
Replacement-cost value of structures:
Residential
Households
Nonprofit organizations
Nonresidential (nonprofits)
14660.2
14445.1
215.1
1404.7
14410.4
14195.4
215.0
1489.5
14130.1
13918.3
211.7
1436.7
14161.9
13950.2
211.7
1435.7
14066.3
13856.4
209.8
1438.7
14094.8
13885.0
209.8
1442.4
14194.4
13983.6
210.8
1450.1
14259.6
14048.3
211.3
1462.5
14336.6
14124.7
212.0
1479.6
14345.3
14133.7
211.6
1495.6
14342.0
14130.9
211.1
1508.0
43
44
45
46
10423.6
11024.5
10788.8
10991.3
11150.2
11240.4
11336.7
11481.0
11559.2
11647.7
11721.3
47
625.5
475.8
510.9
513.1
495.5
501.4
518.9
522.0
516.9
491.6
498.7
48
10309.6
7042.1
6800.4
7001.3
7050.6
6618.2
6519.8
6293.3
6382.7
6294.4
6123.0
49
49.4
40.2
39.6
40.6
40.9
39.6
39.3
38.7
39.1
38.9
38.4
50
47
48
49
50
Disposable personal income (SAAR)

Household net worth as percentage of
disposable personal income (SAAR)
Owners equity in household real
estate (10)
Owners equity as percentage of
household real estate (11)
(1) Sector includes domestic hedge funds, private equity funds, and personal trusts.
(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.
(6) Value based on the market values of equities held and the book value of other assets held by mutual funds.
(7) Net worth of nonfinancial noncorporate business (table B.103, line 31) and owners equity in unincorporated security brokers and dealers.
(8) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 24.
(9) Liabilities of nonprofit organizations.
(11) Line 49 divided by line 4.
107
Z.1, March 8, 2012
B.102 Balance Sheet of Nonfinancial Corporate Business

2007
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
With nonfinancial 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
21
Assets
Nonfinancial assets
Real estate (1)
Equipment and software (2)
Inventories (2)
Financial assets
Foreign deposits
Security RPs
Commercial paper
Treasury securities
Mortgages
Consumer credit
Trade receivables
Mutual fund shares (1)
Liabilities
29125.3
27240.4
26020.3
26468.2
27338.9
27248.0
28427.8
28752.8
28956.8
29908.7
29951.8
15363.3
14302.8
12679.2
12924.1
13668.1
13285.5
14184.1
14256.0
14219.6
15078.4
14772.8
9518.1
4012.2
1832.9
8325.4
4190.8
1786.6
6896.6
4118.7
1663.9
7130.6
4096.2
1697.3
7852.1
4106.2
1709.7
7399.1
4125.4
1761.0
8215.6
4141.9
1826.6
8195.0
4150.3
1910.7
8091.3
4190.6
1937.7
8926.4
4203.6
1948.4
8571.3
4230.7
1970.8
3
4
5
13762.1
12937.7
13341.1
13544.1
13670.9
13962.5
14243.7
14496.8
14737.1
14830.3
15179.0
50.3
147.3
441.3
544.4
8.1
69.5
38.3
12.8
29.2
41.4
58.6
2253.0
191.1
9877.0
24.7
38.6
381.9
702.6
7.2
57.3
30.5
10.2
26.2
33.6
59.8
2081.1
125.8
9358.3
31.5
166.0
488.8
646.1
7.9
56.0
43.0
14.3
27.1
29.5
57.2
2050.5
190.2
9533.1
38.6
239.5
458.0
568.3
9.0
57.2
49.7
16.6
23.2
28.5
53.5
2104.5
199.2
9698.2
49.4
287.6
438.3
524.3
9.2
63.8
52.2
17.4
20.1
27.5
52.8
2203.3
188.1
9736.8
59.8
350.9
471.2
521.8
6.6
72.5
53.4
18.0
21.3
26.5
52.4
2241.3
206.6
9860.1
72.0
445.0
471.6
517.5
12.2
71.4
43.4
15.2
20.8
25.4
56.0
2189.8
222.9
10080.3
79.0
502.0
522.1
497.4
12.8
76.0
42.8
13.4
20.3
24.4
52.8
2275.9
234.8
10143.1
84.2
558.8
546.0
481.0
12.1
75.1
50.2
15.9
20.0
23.4
53.1
2373.8
238.0
10205.6
89.4
615.4
572.3
458.8
11.4
73.9
50.1
14.0
19.7
22.4
53.1
2408.3
215.5
10226.1
94.0
672.0
599.4
466.9
11.6
74.8
50.9
15.0
19.2
21.3
57.0
2366.2
229.3
10501.5
7
8
9
10
11
12
13
14
15
16
17
18
19
20
12916.0
13225.0
12898.3
12986.1
13037.2
13188.7
13278.7
13399.0
13479.0
13503.1
13596.7
21
22
23
24
25
26
27
28

Commercial paper
Corporate bonds (4)
Bank loans n.e.c.
Mortgages
6933.6
123.8
341.5
3557.9
621.1
1360.5
928.8
7269.4
131.5
409.7
3762.5
676.1
1411.5
878.1
7052.9
58.4
447.5
4139.7
475.9
1173.4
757.9
7135.1
73.6
456.4
4247.8
474.9
1137.5
744.9
7170.1
82.0
466.9
4305.7
464.2
1125.3
726.0
7268.1
97.9
470.3
4433.4
460.1
1097.7
708.7
7355.1
82.9
482.3
4560.3
468.6
1074.8
686.2
7462.7
110.5
485.4
4658.7
476.3
1066.3
665.5
7583.4
106.9
491.4
4771.6
486.3
1086.4
640.7
7685.6
124.7
490.3
4848.3
500.8
1096.8
624.7
7800.0
116.2
497.4
4936.3
519.6
1110.6
619.9
22
23
24
25
26
27
28
29
30
31
Trade payables
Taxes payable
1897.9
35.8
4048.6
1672.7
39.0
4243.9
1587.5
35.7
4222.2
1634.4
49.5
4167.2
1657.7
43.9
4165.6
1712.9
47.1
4160.7
1748.5
39.1
4136.0
1795.0
57.3
4084.1
1862.2
47.0
3986.4
1915.0
53.0
3849.6
1973.1
48.2
3775.5
29
30
31
32
Net worth (market value)
16209.4
14015.5
13122.1
13482.1
14301.8
14059.3
15149.1
15353.8
15477.8
16405.6
16355.0
32
33
34
35
36
37
38
Memo:
Residential
Nonresidential
Market value of equities outstanding
Debt/net worth (percent) (5)
Debt/equities (percent) (6)
Equities/net worth (percent) (7)
170.8
6644.8
15730.7
42.8
44.1
97.0
172.7
7203.6
10016.6
51.9
72.6
71.5
171.4
6841.6
12494.7
53.7
56.4
95.2
171.6
6867.7
12914.3
52.9
55.2
95.8
170.2
6913.4
11488.2
50.1
62.4
80.3
170.4
6963.6
12905.4
51.7
56.3
91.8
171.4
7035.0
14422.3
48.6
51.0
95.2
172.0
7128.1
15339.3
48.6
48.7
99.9
172.7
7245.0
15246.8
49.0
49.7
98.5
172.6
7357.7
12867.3
46.8
59.7
78.4
172.3
7453.3
14276.6
47.7
54.6
87.3
33
34
35
36
37
38
22897.4
22451.5
22886.3
23160.5
23479.7
23858.5
24234.6
24669.3
25027.3
25224.3
25640.9
39
9135.4
3841.6
3630.1
1663.6
9513.9
4145.8
3738.5
1629.5
9545.1
4334.5
3717.9
1492.7
9616.5
4364.7
3722.8
1529.0
9808.8
4526.8
3735.2
1546.8
9896.0
4548.8
3752.4
1594.8
9990.9
4596.3
3771.4
1623.2
10172.5
4663.9
3792.7
1715.9
10290.2
4714.7
3815.0
1760.5
10394.0
4751.6
3842.4
1800.1
10461.9
4779.8
3870.5
1811.5
40
41
42
43
With nonfinancial assets stated at historical cost:

39
40
41
42
43
Assets (8)
Nonfinancial assets
Real estate
Equipment and software
Inventories
44
Net worth (historical cost) (9)
9981.5
9226.6
9988.0
10174.5
10442.5
10669.8
10955.9
11270.3
11548.3
11721.2
12044.2
44
45
46
47
Memo:
Historical-cost value of structures:
Residential
Nonresidential
73.1
3330.7
69.5
76.6
3624.8
78.8
78.8
3809.4
70.6
79.2
3840.6
70.1
79.6
3873.6
68.7
80.0
3907.9
68.1
80.4
3944.6
67.1
80.7
3979.1
66.2
81.1
4017.9
65.7
81.4
4059.7
65.6
81.8
4101.5
64.8
45
46
47

(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.
(8) Sum of lines 6 and 40.
108
Z.1, March 8, 2012
B.103 Balance Sheet of Nonfinancial Noncorporate Business

2007
Assets
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
14338.8
13154.5
12160.5
12270.5
12576.4
12250.1
12694.5
12705.0
12694.2
13106.6
12911.4
Nonfinancial assets
10742.9
9461.3
8568.1
8737.9
9089.6
8796.4
9246.3
9256.6
9241.3
9642.6
9435.8
3
4
5
Real estate (1)

Residential
Nonresidential
9830.9
5997.2
3833.7
8521.8
5084.3
3437.5
7655.1
4625.6
3029.5
7803.8
4701.4
3102.4
8150.2
4873.5
3276.7
7847.1
4667.1
3180.0
8286.1
4880.9
3405.2
8278.0
4880.6
3397.4
8281.3
4899.5
3381.7
8674.3
5057.8
3616.5
8468.5
4927.4
3541.1
3
4
5
6
7
8
Equipment and software (2)

Residential (3)
Nonresidential
667.4
47.4
619.9
701.7
48.7
653.0
693.4
46.1
647.2
705.0
45.6
659.4
710.2
45.2
665.0
709.0
45.1
664.0
702.3
44.4
657.9
699.6
44.0
655.6
686.1
44.3
641.8
690.9
45.2
645.8
688.4
45.4
643.0
6
7
8
Inventories (2)
244.6
237.7
219.6
229.1
229.2
240.3
257.9
279.0
273.9
277.4
278.9
10
Financial assets
3595.9
3693.1
3592.4
3532.5
3486.9
3453.8
3448.3
3448.5
3452.9
3464.0
3475.6
10
11
12
13

515.6
359.3
74.3
519.4
358.1
75.4
539.8
353.3
73.7
531.0
347.3
72.5
524.3
342.8
71.5
519.5
339.4
70.8
518.6
338.9
70.7
518.9
338.8
70.7
519.7
339.2
70.8
521.6
340.2
71.0
523.8
341.4
71.2
11
12
13
14
106.7
95.8
89.1
87.6
86.5
85.6
85.5
85.5
85.6
85.8
86.1
14
59.3
5.3
42.1
0.0
51.8
4.9
39.1
0.0
46.1
5.1
37.9
0.0
45.4
5.0
37.3
0.0
44.8
4.9
36.8
0.0
44.3
4.9
36.4
0.0
44.3
4.9
36.4
0.0
44.3
4.9
36.3
0.0
44.3
4.9
36.4
0.0
44.4
4.9
36.5
0.0
44.6
4.9
36.6
0.0
15
16
17
18
525.6
2014.3
107.3
5.0
1902.0
522.7
2121.8
111.5
6.4
2003.9
496.3
2040.0
112.4
6.3
1921.3
487.9
2006.2
112.3
6.4
1887.5
481.5
1980.3
113.0
6.4
1860.8
476.8
1961.6
113.2
6.7
1841.7
476.1
1958.4
112.5
6.7
1839.2
476.0
1958.6
113.0
6.7
1839.0
476.4
1961.3
115.1
6.8
1839.3
477.9
1967.6
116.8
7.0
1843.9
479.7
1973.3
116.4
7.0
1849.9
19
20
21
22
23
5399.3
5849.4
5743.6
5652.1
5586.1
5545.4
5545.6
5549.1
5562.3
5592.4
5623.1
24
3824.9
4148.2
4008.1
3913.7
3847.1
3806.9
3803.3
3798.2
3798.3
3813.0
3831.3
25
926.5
215.3
2683.0
1046.1
232.2
2869.9
929.8
221.0
2857.3
872.7
218.7
2822.3
848.2
217.8
2781.1
831.6
226.1
2749.3
845.9
230.0
2727.4
852.3
230.9
2715.1
869.5
225.2
2703.6
894.4
224.8
2693.8
919.3
228.2
2683.8
26
27
28
374.9
99.5
1100.0
380.7
106.2
1214.3
388.3
99.9
1247.4
385.1
97.7
1255.5
379.7
96.1
1263.1
372.6
94.9
1271.0
368.3
94.7
1279.2
368.3
94.7
1287.9
371.0
94.8
1298.1
374.7
95.2
1309.5
374.2
95.6
1321.9
29
30
31
8939.6
7305.1
6416.8
6618.4
6990.3
6704.7
7149.0
7155.9
7131.9
7514.1
7288.4
32
3072.5
1594.6
3047.3
1691.6
2993.2
1592.0
2994.0
1593.5
2967.1
1596.5
2967.1
1598.0
2982.0
1600.2
2989.5
1609.7
2999.0
1618.3
2993.8
1621.3
2985.7
1620.0
33
34
42.8
56.8
62.5
59.1
55.0
56.8
53.2
53.1
53.3
50.7
52.6
35
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
Treasury securities
Mortgages
Consumer credit
Trade receivables
Other
Liabilities
Bank loans n.e.c.
Mortgages
Trade payables
Taxes payable
Net worth (5)
Memo:
33
34

Residential
Nonresidential
35

(3) Durable goods in rental properties.
(5) Line 1 less line 24. Included in table B.100, line 29.
109
Z.1, March 8, 2012
R.100 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars; not seasonally adjusted
2007
1
2
Change in net worth (1)

Net investment
2008
2009
2010
2011
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
-50.1
-12739.3
2666.0
1275.1
-1151.3
1110.6
2464.8
1110.4
-180.6
-2489.4
1190.7
709.0
839.4
556.3
210.3
171.3
242.2
313.7
248.4
-10.6
343.2
237.5
3
4
5
Net physical investment

- Consumption of fixed capital
595.6
1757.4
1161.8
358.1
1559.3
1201.2
164.0
1373.7
1209.7
-15.4
286.3
301.7
44.4
346.3
301.9
77.0
379.9
302.9
94.9
398.9
304.1
2.2
299.3
297.1
57.0
357.0
300.0
97.6
401.4
303.8
118.8
425.2
306.4
3
4
5
6
7
8

- Net increase in liabilities
113.4
1029.5
916.1
481.3
359.7
-121.6
392.3
210.6
-181.7
225.7
70.5
-155.2
126.9
88.6
-38.3
165.3
147.7
-17.5
218.9
249.8
31.0
246.2
176.3
-69.9
-67.6
-79.2
-11.6
245.6
184.4
-61.2
118.7
121.5
2.8
6
7
8
-797.0
-13440.4
1777.3
1059.2
-1287.2
891.1
2211.6
864.3
-192.7
-2836.8
974.4
-2118.6
830.1
198.2
-149.3
442.7
0.0
-3842.1
-3781.5
-1272.0
-1348.1
-3196.6
0.0
-840.0
1573.9
509.7
-872.4
1406.4
-0.3
175.6
276.6
55.3
186.9
365.3
-0.5
139.9
-747.2
-293.5
343.7
-729.8
-0.3
-662.0
931.5
236.6
-294.7
679.9
-0.1
-10.4
865.6
239.7
448.2
668.5
-0.1
-249.5
546.0
139.3
27.2
401.3
-0.0
8.5
-116.5
-25.1
-26.6
-33.0
-0.1
5.9
-1599.9
-554.2
388.6
-1077.1
-0.1
-367.4
790.1
124.4
-215.0
642.3
-0.0
10
11
12
13
14
15
-52.1
-32.5
-44.4
-21.9
-22.6
-23.9
-22.5
1.2
29.3
3.7
-19.5
16
9
10
11
12
13
14
15
16
Holding gains on assets

at market value (2)
Real estate
Corporate equities
Mutual fund shares
Life insurance and pension fund reserves
Equity investment under PPIP
at current cost (2)
17
18
Consumer durable goods

-58.1
5.9
-36.3
3.8
-43.3
-1.2
-19.7
-2.3
-22.9
0.2
-24.7
0.8
-23.4
0.9
-0.9
2.0
26.2
3.1
0.6
3.1
-23.0
3.5
17
18
19
Other volume changes (3)
90.0
-105.8
376.8
27.5
-12.7
1.2
-38.1
-3.5
-6.6
0.5
-1.6
19
65198.2
10423.6
52458.9
11024.5
55124.9
10788.8
56400.0
10991.3
55248.8
11150.2
56359.4
11240.4
58824.1
11336.7
59934.5
11481.0
59753.8
11559.2
57264.4
11647.7
58455.1
11721.3
20
21
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 volume changes (line 19).
(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.
(3) Consists of statistical discontinuities and disaster-related losses to fixed assets. Also includes the difference between series for consumption of fixed capital published by BEA.
(4) Table B.100, line 42.
110
Z.1, March 8, 2012
R.102 Change in Net Worth of Nonfinancial Corporate Business

2007
1
2

Net investment
2008
2009
2010
Q1
Q2
2011
Q3
Q4
Q1
Q2
Q3
Q4
784.6
-2193.9
-893.4
360.0
819.7
-242.5
1089.8
204.7
124.0
927.8
-50.6
-639.4
-985.3
398.4
10.7
87.1
27.7
56.8
24.6
19.4
0.4
81.8
3
4
5
6

- Inventory valuation adjustment
353.5
1146.9
840.6
-47.2
293.6
1112.4
863.2
-44.5
-100.5
760.8
860.7
0.6
20.9
226.9
212.0
-6.1
32.8
247.1
212.9
1.4
55.0
260.6
213.8
-8.2
63.1
252.8
215.9
-26.2
69.8
260.6
217.9
-27.0
56.2
266.2
221.4
-11.4
50.4
262.1
223.6
-11.9
70.4
288.5
227.0
-9.0
3
4
5
6
7
8
9

-206.1
1074.9
1281.0
-943.0
-604.0
339.0
563.4
308.7
-254.7
39.9
176.8
136.9
107.9
182.8
74.9
56.8
244.6
187.8
84.0
229.2
145.3
36.2
223.1
186.9
91.3
243.6
152.4
101.6
179.3
77.7
140.0
295.6
155.6
7
8
9
Net corporate equity issues
-786.8
-336.0
-64.6
-50.1
-53.6
-84.1
-90.2
-81.4
-128.1
-151.6
-128.7
10
10
11
12
13

at market value (2)
Real estate
Mutual fund shares
310.8
-1439.4
-1492.2
234.2
568.4
-435.4
804.9
-56.6
-130.2
797.9
-353.0
11
300.6
10.1
-1380.2
-59.2
-1516.1
23.9
229.3
4.9
583.7
-15.3
-449.7
14.3
792.8
12.1
-64.2
7.6
-129.2
-1.0
824.6
-26.7
-362.6
9.6
12
13
14
Holding gains on assets less

liabilities at current cost (2)
229.8
9.7
148.7
-2.1
0.3
25.7
39.2
34.8
26.3
-9.5
1.6
14
15
16
17
18

Inventories (3)
Direct investment abroad
- Foreign direct investment in U.S.
51.4
60.9
145.1
27.7
103.4
-50.5
-144.4
-101.2
-20.3
29.4
3.1
-136.5
-20.1
17.8
0.0
-0.3
4.9
-4.6
0.0
-0.0
9.1
16.7
0.0
0.0
4.6
29.0
-30.9
-36.5
-5.8
40.6
0.0
0.0
25.2
1.1
0.0
0.0
-7.1
-2.4
0.0
-0.0
6.2
-4.7
0.0
0.0
15
16
17
18
19
883.5
221.1
51.8
117.2
163.8
139.5
188.9
201.8
208.6
139.1
219.1
19
16209.4
14015.5
13122.1
13482.1
14301.8
14059.3
15149.1
15353.8
15477.8
16405.6
16355.0
20
Memo:
20
(1) Sum of net investment (line 2), holding gains (lines 11 and 14), and other volume changes (line 19).
(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.
(3) Before inventory valuation adjustment.
(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.
111
Z.1, March 8, 2012
R.103 Change in Net Worth of Nonfinancial Noncorporate Business

2007
Net capital transfers paid
Net investment
4
5
6

7
8
9

2008
2009
2010
Q1
Q2
2011
Q3
Q4
Q1
Q2
Q3
Q4
-135.9
-1634.5
-888.3
201.6
371.9
-285.6
444.2
6.9
-24.0
382.2
-225.7
0.0
-3.3
-6.0
-1.1
-4.0
-2.0
-0.6
-0.6
-0.9
-0.1
-0.1
12.8
-296.8
-3.6
17.7
30.6
12.3
-3.5
-17.9
3.1
-9.6
-10.2
122.2
306.5
184.3
55.9
267.2
211.3
-8.5
202.4
210.8
-15.5
36.8
52.2
10.3
62.5
52.2
4.7
57.1
52.4
2.2
55.0
52.9
-14.5
38.7
53.2
11.8
65.7
53.9
9.5
63.9
54.4
8.8
63.7
54.9
4
5
6
-122.2
479.4
601.6
-52.6
97.2
149.9
14.5
-100.8
-115.2
16.6
-59.8
-76.4
-6.3
-45.7
-39.4
-2.7
-33.1
-30.4
-1.5
-5.5
-4.0
15.1
0.2
-14.9
-11.0
4.4
15.4
-9.5
11.1
20.5
-8.8
11.6
20.4
7
8
9
10
Proprietors net investment (2)
12.8
-300.0
-9.6
16.6
26.6
10.3
-4.1
-18.5
2.3
-9.6
-10.2
10
11
Holding gains on real estate (3)
-135.2
-1343.7
-869.2
158.7
347.9
-303.0
441.7
3.1
5.1
392.0
-204.2
11
-300.4
165.2
-919.3
-424.4
-455.3
-413.9
78.3
80.5
174.3
173.5
-203.5
-99.5
216.8
225.0
2.8
0.3
22.3
-17.1
162.1
229.9
-126.7
-77.5
12
13
12
13
Residential
Nonresidential
14
Holding gains on assets at current cost (3)
-12.2
11.0
-14.5
26.9
-6.3
5.2
6.0
21.7
-32.3
-0.4
-11.5
14
15
16
17
Residential equipment and software

Nonresidential equipment and software
Inventories
-0.4
-34.9
23.1
0.2
16.7
-6.0
-2.8
-3.0
-8.8
-0.7
19.6
7.9
-0.7
-4.6
-1.0
-0.3
-5.3
10.9
-0.8
-11.5
18.3
-0.6
0.4
22.0
0.2
-28.5
-3.9
0.7
-5.5
4.5
0.1
-13.2
1.7
15
16
17
-1.4
-1.7
5.0
-0.6
3.8
1.9
0.7
0.6
0.9
0.2
0.2
18
8939.6
7305.1
6416.8
6618.4
6990.3
6704.7
7149.0
7155.9
7131.9
7514.1
7288.4
19
18

Memo:
19
(1) Sum of net capital transfers paid (line 2), net investment (line 3), holding gains (lines 11 and 14), and other volume changes (line 18).
(2) Shown on table F.103, line 30.
(3) Calculated as change in amount outstanding less net investment during period less disaster-related losses to fixed assets.
(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.
112
Z.1, March 8, 2012
F.100.a Nonprofit Organizations (1)

Billions of dollars
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
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
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
3
4
5
6

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
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
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
Mortgages
14
15
Corporate equities
Mutual fund shares
16
17
Security credit
Trade receivables (2)
18
19

20
21

22
23
24
25
Bank loans n.e.c.
1.5
1.6
-0.0
4.4
3.2
1.4
-0.0
7.2
3.0
1.4
0.3
7.2
3.8
1.6
0.4
8.6
2.4
1.2
-0.2
6.6
1.1
2.0
0.1
10.7
3.2
-0.2
0.1
-0.8
0.2
-0.1
-0.1
-0.6
6.1
0.8
0.0
4.1
7.1
0.6
-0.2
3.1
11.8
1.9
-0.1
9.9
10.4
0.5
0.1
2.5
5.8
2.2
-0.3
11.6
22
23
24
25
26
27
Trade payables
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.
113
Z.1, March 8, 2012
L.100.a Nonprofit Organizations (1)

2
3
4
5

Security RPs (2)
7
8
9
10
11
12
Open market paper

Treasury securities
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
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
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

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
21
22
23
24
Bank loans n.e.c.
79.6
11.8
0.3
62.7
82.7
13.1
0.3
70.0
85.7
14.5
0.5
77.2
89.5
16.1
0.9
85.8
91.9
17.3
0.7
92.3
93.0
19.3
0.8
103.0
96.1
19.2
0.9
102.2
96.4
19.1
0.8
101.6
102.4
19.8
0.9
105.7
109.6
20.4
0.7
108.8
121.3
22.3
0.6
118.7
131.7
22.7
0.7
121.2
137.5
24.9
0.4
132.8
21
22
23
24
25
26
Trade payables
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.
114
Z.1, March 8, 2012
F.106.c Consolidated Statement for Federal, State, and Local Governments

2007
1
2
3
4
5
6
7
8
9
2008
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4

Taxes from the rest of the world
4197.0
1488.7
1027.2
420.6
14.7
964.2
144.2
149.2
-11.8
4051.6
1435.7
1038.6
281.0
18.8
992.1
137.5
163.9
-16.0
3703.7
1141.4
1017.9
249.1
14.7
969.0
141.4
185.2
-14.9
3962.8
1193.9
1054.0
387.4
13.3
991.7
144.0
194.1
-15.7
4165.6
1402.2
1098.7
391.4
15.7
930.9
145.0
197.0
-15.3
4015.4
1212.8
1059.0
406.8
13.0
996.3
145.8
197.6
-16.0
4025.0
1240.9
1065.5
380.2
13.9
999.0
145.4
196.6
-16.5
4106.0
1365.9
1087.4
397.2
14.3
915.9
145.2
195.7
-15.6
4154.4
1396.2
1101.1
394.4
15.3
921.9
144.0
196.1
-14.6
4175.0
1409.1
1100.0
384.3
17.0
936.8
145.1
197.1
-14.5
4227.2
1437.6
1106.1
389.8
16.3
949.1
145.8
199.2
-16.8
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16

Government social benefits
Other current transfer payments
Interest payments
Subsidies
4430.0
2217.8
1701.2
42.2
414.3
54.6
0.0
4737.3
2381.0
1857.9
45.3
400.2
52.9
0.0
4999.7
2412.2
2116.0
53.3
358.6
59.7
0.0
5261.8
2497.5
2259.5
57.3
390.2
57.3
0.0
5409.4
2547.8
2312.8
57.6
428.4
62.8
0.0
5278.4
2505.6
2268.5
56.9
390.5
57.0
0.0
5347.8
2509.7
2318.3
58.1
402.6
59.1
0.0
5364.3
2530.7
2305.0
56.8
411.7
60.0
0.0
5470.0
2560.4
2324.7
64.9
457.4
62.7
0.0
5418.9
2561.0
2314.2
55.8
423.7
64.2
0.0
5384.5
2539.1
2307.2
53.0
420.9
64.4
0.0
10
11
12
13
14
15
16
17
18
19
20
21
Net government saving, NIPA basis

- Insurance and pension fund reserves (1)
- Contr. for govt. soc. insur., U.S.-affiliated areas
- Net capital transfers (2)
-233.0
291.3
0.1
4.7
-2.6
-685.7
311.2
-0.6
4.8
3.0
-1296.0
323.7
0.5
4.9
14.9
-1299.0
334.0
-1.7
4.9
29.8
-1243.8
352.2
-0.4
4.5
37.8
-1262.9
335.5
-2.1
4.9
28.1
-1322.8
339.1
-0.4
4.9
34.9
-1258.3
343.8
-2.1
4.4
40.4
-1315.6
349.4
-0.1
4.4
41.4
-1243.9
355.2
0.5
4.5
43.0
-1157.3
360.5
-0.0
4.6
26.4
17
18
19
20
21
22
= Gross saving less net capital transfers
56.1
-381.7
-992.5
-997.8
-933.4
-958.3
-1023.0
-957.2
-1012.0
-936.6
-827.8
22
23
24
25
Gross investment
Fixed investment
53.3
456.5
12.5
-447.3
497.2
-5.1
-920.1
505.4
7.3
-919.8
505.3
14.8
-927.2
482.4
15.5
-609.6
513.1
16.4
-856.7
510.5
14.9
-1050.2
483.6
15.5
-44.8
478.2
15.3
-1658.5
486.3
15.0
-955.2
481.4
16.0
23
24
25
-415.7
92.8
-0.4
20.4
37.6
6.6
13.0
-939.4
520.4
4.2
321.6
17.9
-1.8
-3.5
-1432.8
217.3
51.9
-155.0
11.2
4.1
8.0
-1439.9
347.7
1.6
155.5
-0.4
5.4
10.6
-1425.0
-185.6
21.9
-242.1
17.5
-2.4
-4.6
-1139.1
438.9
4.1
81.9
6.6
4.8
9.4
-1382.1
496.4
-1.0
178.2
4.4
6.7
13.1
-1549.3
-701.4
16.3
-831.9
3.7
-2.4
-4.7
-538.3
-17.5
24.8
13.0
20.9
-2.4
-4.7
-2159.9
-206.7
16.0
-315.6
13.6
-4.6
-9.0
-1452.6
183.1
30.5
166.1
31.6
-0.1
-0.2
26
27
28
29
30
31
32
65.5
-3.0
37.0
0.5
11.7
15.4
6.7
-2.9
0.7
-0.1
14.5
-32.7
-32.4
3.9
-64.6
44.5
-0.1
-3.1
9.5
12.6
5.2
275.3
13.1
0.6
-59.8
-51.2
239.8
-54.5
124.9
0.3
7.8
21.1
75.0
65.2
16.5
-7.7
-12.9
38.2
23.1
115.5
7.0
-37.2
0.4
9.8
2.4
130.4
2.7
-4.9
-8.5
10.1
69.3
-6.5
-28.7
20.8
-156.4
-0.2
-4.3
0.4
108.7
2.2
36.1
-1.2
-2.9
74.9
-54.0
227.5
32.2
-36.8
0.3
8.9
-8.4
228.1
3.2
-21.1
-11.3
11.2
73.9
51.8
141.0
37.0
-43.3
0.5
12.3
-2.8
141.4
-4.2
-32.1
-10.8
28.4
94.4
74.1
125.2
41.3
-76.5
-0.2
-4.2
5.1
151.5
8.2
5.4
-7.9
-11.2
87.4
-81.2
-103.3
13.8
-172.5
-0.2
-4.2
1.2
71.1
-12.5
56.9
-0.4
4.4
41.4
-68.0
-40.5
8.2
-177.9
-0.3
-8.4
-9.7
141.4
6.2
72.1
17.3
-11.5
129.3
-73.8
-96.2
19.8
-198.5
-0.0
-0.3
5.0
70.7
7.1
9.8
-13.7
6.7
41.5
7.0
33
34
35
36
37
38
39
40
41
42
43
44
45
508.5
0.0
0.0
-0.7
365.0
-6.0
225.2
-0.4
146.2
0.0
66.4
1.2
76.6
1459.7
0.0
0.0
-0.8
1308.3
-2.4
1291.4
0.2
19.2
0.0
61.8
1.0
89.5
1650.1
47.6
3.0
-0.4
1535.7
-2.8
1427.7
0.1
110.7
0.0
-18.4
1.1
81.4
1787.6
0.0
0.0
-0.3
1635.9
-3.3
1573.2
0.7
65.3
0.0
60.6
0.9
90.6
1239.4
0.0
0.0
0.0
1067.4
-2.7
1128.5
1.1
-59.5
0.0
67.8
1.3
102.9
1578.0
0.0
0.0
-1.1
1452.9
-2.6
1393.6
0.5
61.5
0.0
52.0
0.7
73.5
1878.5
0.0
0.0
0.0
1606.9
-3.5
1465.1
0.8
144.6
0.0
92.0
2.5
177.1
848.0
0.0
0.0
0.0
702.4
-4.6
806.1
1.2
-100.3
0.0
88.0
0.3
57.2
520.8
0.0
0.0
0.0
796.2
-3.9
907.2
0.2
-107.3
0.0
29.4
1.7
-306.5
1953.2
0.0
0.0
0.0
1430.6
-2.8
1431.6
1.9
-0.0
0.0
58.3
1.2
463.0
1635.7
0.0
0.0
0.0
1340.3
0.3
1369.2
1.1
-30.3
0.0
95.6
1.9
197.9
46
47
48
49
50
51
52
53
54
55
56
57
58
2.7
65.6
-72.4
-78.1
-6.2
-348.6
-166.4
93.0
-967.1
721.9
127.4
59
-689.5
273.8
-415.7
-1182.9
243.5
-939.4
-1801.4
368.6
-1432.8
-1804.3
364.4
-1439.9
-1726.2
301.1
-1425.0
-1776.0
636.9
-1139.1
-1833.3
451.2
-1382.1
-1741.9
192.6
-1549.3
-1793.8
1255.5
-538.3
-1730.2
-429.6
-2159.9
-1638.7
186.1
-1452.6
60
61
62
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
52
53
54
55
56
57
58

Security RPs
Open market paper
Mortgages
Consumer credit
Corporate equities
Mutual fund shares
Trade receivables
Taxes receivable
SDR allocations
SDR certificates
Treasury currency
Savings bonds
Treasury bills and other Treasury securities (4)
Trade payables
Insurance reserves
59
Discrepancy
60
61
62
Memo:
Net govt. saving less fixed investment (6)
Adjustment between NIPA and FOF (7)
Items to be financed (8)
(1) 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.
(2) Table F.9, line 60 less line 12.
(3) Holdings by state and local governments may include small amounts of budget agency securities issued by the federal government.
(4) Excludes transactions with state and local governments.
(7) Line 18 less the sum of lines 19, 20, 21, 25, and 59.
(8) Line 59 plus line 60.
115
Z.1, March 8, 2012
L.106.c Consolidated Statement for Federal, State, and Local Governments

2007
2
3
4
5
6

Security RPs
8
9
10
11
12
13
14
Open market paper

Mortgages
Consumer credit
2008
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
2666.5
3203.7
3346.6
3692.9
3420.7
3592.7
3692.9
3501.7
3501.4
3398.7
3420.7
36.4
113.6
248.8
79.3
156.1
41.9
433.6
266.6
77.5
152.6
94.6
278.5
277.8
81.6
160.6
95.4
433.6
277.4
86.9
171.2
103.9
191.6
294.9
84.6
166.5
96.3
391.5
270.4
85.3
167.9
95.4
433.6
277.4
86.9
171.2
102.1
207.5
280.4
86.3
170.0
105.9
230.8
276.0
85.8
168.8
105.0
151.8
281.7
84.6
166.6
103.9
191.6
294.9
84.6
166.5
2
3
4
5
6
1216.5
1220.4
1460.3
1575.8
1547.1
1539.8
1575.8
1608.0
1579.3
1569.9
1547.1
184.3
444.0
5.5
140.7
249.7
98.4
93.9
119.8
488.5
5.4
137.5
259.1
111.0
99.1
65.3
613.4
5.7
145.4
280.2
186.0
164.3
72.2
576.2
6.1
155.2
282.7
316.4
167.0
93.0
419.9
5.9
150.9
283.1
425.1
169.3
63.0
587.1
6.0
152.1
283.4
280.3
168.1
72.2
576.2
6.1
155.2
282.7
316.4
167.0
82.6
557.1
6.0
154.1
283.9
355.2
169.1
86.0
514.0
6.0
153.1
284.2
370.1
165.9
88.1
469.5
5.9
151.0
281.8
406.1
167.5
93.0
419.9
5.9
150.9
283.1
425.1
169.3
8
9
10
11
12
13
14
15
16
Corporate equities
Mutual fund shares
108.0
32.8
270.8
32.0
185.0
33.7
159.8
30.9
164.2
30.0
158.5
30.2
159.8
30.9
164.2
30.7
169.3
30.4
163.4
30.0
164.2
30.0
15
16
17
18
19
Trade receivables
Taxes receivable
220.5
342.5
112.1
221.1
389.3
97.8
208.3
416.1
150.2
218.4
448.9
194.6
215.5
474.0
148.5
214.8
442.4
195.6
218.4
448.9
194.6
218.9
458.2
175.3
220.0
466.8
168.0
217.4
463.0
165.3
215.5
474.0
148.5
17
18
19
9421.7
10881.1
12528.1
14312.0
15537.4
13812.5
14312.0
14578.5
14580.3
15106.2
15537.4
20
7.7
2.2
27.4
7.5
2.2
26.6
55.4
5.2
26.2
54.4
5.2
25.9
54.2
5.2
25.9
55.0
5.2
25.9
54.4
5.2
25.9
56.0
5.2
25.9
56.5
5.2
25.9
55.2
5.2
25.9
54.2
5.2
25.9
21
22
23
20
Total liabilities
21
22
23
SDR allocations
SDR certificates
Treasury currency
24
25
26
27
28
29

Savings bonds
Treasury bills and other Treasury securities (3)
7453.2
196.4
4377.7
23.1
2855.9
0.0
8761.5
194.0
5669.1
23.3
2875.0
0.0
10297.2
191.2
7096.8
23.5
2985.7
0.0
11933.1
187.9
8670.0
24.2
3051.1
0.0
13000.5
185.2
9798.5
25.3
2991.6
0.0
11523.2
188.7
8307.0
24.0
3003.5
0.0
11933.1
187.9
8670.0
24.2
3051.1
0.0
12186.5
186.8
8944.1
24.5
3031.2
0.0
12263.9
186.0
9055.1
24.5
2998.3
0.0
12660.4
185.1
9463.1
25.0
2987.2
0.0
13000.5
185.2
9798.5
25.3
2991.6
0.0
24
25
26
27
28
29
30
31
32
Trade payables
Insurance reserves
791.7
45.4
1094.2
853.4
46.4
1183.5
835.0
47.5
1261.6
895.6
48.4
1349.4
963.5
49.7
1438.3
885.9
47.8
1269.6
895.6
48.4
1349.4
921.2
48.5
1335.1
937.8
48.9
1242.0
952.2
49.2
1358.1
963.5
49.7
1438.3
30
31
32
(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.
116
Z.1, March 8, 2012
F.118.b Private Pension Funds: Defined Benefit Plans

2007
2
3
4
5

Security RPs
7
8
9
10
11
2008
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
-76.4
-82.4
-35.1
-31.9
-23.2
-21.5
-33.1
-33.1
-4.2
-26.7
-28.5
0.2
1.6
0.0
0.2
0.1
1.1
0.0
0.1
2.8
3.3
0.0
-0.0
10.1
4.2
0.0
-0.1
12.2
4.4
0.0
-0.1
10.8
4.2
0.0
-0.1
13.5
4.5
0.0
-0.1
13.1
4.3
0.0
-0.1
12.0
4.3
0.0
-0.0
11.1
5.2
0.0
-0.1
12.5
3.8
0.0
-0.0
2
3
4
5
84.8
71.8
114.1
78.6
46.8
86.6
53.0
39.2
61.7
44.9
41.4
Open market paper

Treasury securities
-4.5
32.8
26.7
10.1
10.1
13.7
-4.1
97.9
-23.4
-5.4
140.2
-97.5
-0.8
50.8
-28.9
-4.0
217.4
-166.9
-4.4
38.0
-25.6
-4.2
36.7
-32.2
-0.5
64.5
-25.4
-0.9
53.4
-27.6
2.3
48.7
-30.4
7
8
9

Mortgages
30.3
-0.5
38.2
-0.3
44.6
-0.9
42.2
-0.9
27.0
-1.3
40.8
-0.7
46.0
-1.0
40.4
-1.5
25.4
-2.3
21.2
-1.2
21.2
-0.4
10
11
-209.0
20.1
-171.1
15.5
-159.6
-5.2
-120.2
-2.6
-96.8
8.8
-120.0
-8.0
-96.9
-4.8
-97.6
11.4
-97.6
11.6
-92.6
6.2
-99.3
6.2
12
13
25.6
29.0
-0.2
-3.1
0.0
24.0
-0.1
-23.9
9.6
5.6
-0.4
4.4
-2.0
-1.9
-0.9
0.8
1.5
1.1
0.7
-0.3
4.9
4.0
-0.4
1.4
-2.2
-5.2
-0.2
3.1
-3.4
-5.0
-0.0
1.6
3.8
4.0
-0.0
-0.2
-1.5
3.0
1.0
-5.5
7.0
2.2
1.8
2.9
14
15
16
17
12
13
Corporate equities
Mutual fund shares
14
15
16
17
Other
F.118.c Private Pension Funds: Defined Contribution Plans (1)

1
2
3
4
5

Security RPs
7
8
9
10
11
Open market paper

Treasury securities
Mortgages
12
13
Corporate equities
Mutual fund shares
14
15
16
17
Other
108.1
45.6
95.1
93.1
83.3
71.0
94.1
111.8
112.7
50.3
58.2
0.4
3.0
3.4
3.1
0.3
-0.8
2.3
7.2
1.4
1.4
0.6
3.1
1.4
0.2
-0.1
0.9
0.4
-0.0
-0.2
-3.6
0.2
-0.9
-0.4
21.9
-0.2
1.0
-0.2
1.2
0.2
-0.5
-0.2
0.8
1.5
-0.4
-0.2
-16.9
0.2
-0.4
-0.2
3.9
-0.2
1.2
-0.2
-2.0
2
3
4
5
17.7
18.9
-2.5
29.4
55.0
10.8
76.4
39.4
44.2
66.4
70.2
-0.3
5.9
1.4
0.2
5.3
7.7
-6.4
27.9
-25.7
-6.3
35.8
-0.6
-0.9
30.3
15.6
-0.3
20.8
3.7
-4.2
41.0
28.8
3.4
16.6
10.2
-1.1
23.2
17.2
-1.1
39.8
16.8
-4.7
41.6
18.3
7
8
9
9.5
1.2
4.5
1.2
-1.8
3.5
-1.6
2.2
10.4
-0.4
-12.1
-1.3
10.9
0.0
10.9
-1.7
5.9
-1.0
13.1
-2.2
11.8
3.2
10
11
20.7
68.0
-13.6
20.0
-16.0
95.0
9.2
83.0
13.3
26.5
8.6
36.0
10.2
84.0
14.1
80.0
16.5
88.0
10.9
-32.0
11.5
-30.0
12
13
-8.1
-2.7
4.7
-10.1
11.3
14.2
0.8
-3.7
12.0
4.5
2.9
4.6
-30.9
-2.5
-0.4
-28.0
-8.2
-1.9
-0.5
-5.8
-5.3
1.2
-0.4
-6.1
-78.3
-4.0
-0.7
-73.6
-22.1
-2.3
-0.6
-19.2
-19.9
-3.0
-0.1
-16.9
1.5
-1.8
-0.5
3.8
7.7
-0.4
-0.8
9.0
14
15
16
17
(1) Includes 401(k) type plans.

F.225.i Individual Retirement Accounts (IRAs) (1)

1
Total held at:
2
3
4

Saving institutions
Credit unions
5
6
7
8

Mutual funds
Other self-directed accounts
275.7
247.5
198.6
88.7
ND
-104.3
100.0
-140.0
168.0
100.0
ND
8.7
13.5
5.0
37.4
6.8
7.2
27.5
3.3
8.7
21.0
5.6
3.0
ND
ND
ND
17.1
3.7
3.3
33.3
0.9
0.2
5.9
3.1
1.1
28.1
-0.1
1.4
31.1
16.0
1.7
ND
ND
ND
2
3
4
17.9
44.0
119.9
66.6
28.9
46.0
-119.7
240.9
-6.0
-40.0
148.0
57.2
11.9
-23.0
119.9
-49.7
ND
ND
ND
ND
14.8
-24.0
207.7
-326.9
8.7
-20.0
79.7
-2.7
-1.0
-20.0
69.9
-199.1
20.0
36.0
65.4
17.1
36.0
40.0
-181.6
156.8
ND
ND
ND
ND
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).
117
Z.1, March 8, 2012
L.118.b Private Pension Funds: Defined Benefit Plans

2007
2
3
4
5

Security RPs
7
8
9
10
11
2008
2009
2010
2011
2010
2011
Q3
Q4
Q1
Q2
Q3
Q4
2596.0
1853.5
2104.7
2262.0
2223.1
2154.3
2262.0
2318.6
2312.3
2122.7
2223.1
5.8
44.0
0.0
5.6
5.9
45.0
0.0
5.8
8.7
48.3
0.0
5.7
18.8
52.5
0.0
5.7
31.0
56.9
0.0
5.6
15.4
51.4
0.0
5.7
18.8
52.5
0.0
5.7
22.1
53.6
0.0
5.7
25.1
54.7
0.0
5.6
27.9
56.0
0.0
5.6
31.0
56.9
0.0
5.6
2
3
4
5
587.6
659.3
773.4
852.0
898.8
838.7
852.0
861.8
877.2
888.4
898.8
Open market paper

Treasury securities
1.0
104.6
227.8
11.0
114.8
241.5
6.9
212.7
218.2
1.6
352.8
120.7
0.7
403.7
91.8
2.6
343.3
127.1
1.6
352.8
120.7
0.5
362.0
112.6
0.4
378.1
106.3
0.2
391.5
99.4
0.7
403.7
91.8
7
8
9

Mortgages
250.6
3.6
288.7
3.2
333.3
2.3
375.5
1.5
402.5
0.1
364.0
1.7
375.5
1.5
385.6
1.1
391.9
0.5
397.2
0.2
402.5
0.1
10
11
1423.8
338.6
777.1
228.0
805.2
286.3
810.0
323.5
702.7
329.6
750.3
303.2
810.0
323.5
831.1
339.3
802.6
341.5
653.3
306.5
702.7
329.6
12
13
190.7
154.2
1.4
35.1
132.4
119.9
1.3
11.3
177.1
160.5
0.9
15.7
199.4
182.9
0.0
16.5
198.6
181.6
0.7
16.2
189.6
173.8
0.1
15.7
199.4
182.9
0.0
16.5
205.0
188.0
0.0
16.9
205.6
188.7
0.0
16.9
185.0
169.2
0.3
15.5
198.6
181.6
0.7
16.2
14
15
16
17
12
13
Corporate equities
Mutual fund shares
14
15
16
17
Other
L.118.c Private Pension Funds: Defined Contribution Plans (1)

1
2
3
4
5

Security RPs
7
8
9
10
11
Open market paper

Treasury securities
Mortgages
12
13
Corporate equities
Mutual fund shares
14
15
16
17
Other
3814.5
2699.2
3366.3
3835.7
3857.7
3574.2
3835.7
4008.5
4020.0
3595.2
3857.7
6.0
23.7
93.5
20.1
6.4
22.9
95.7
27.3
7.7
24.3
96.4
30.5
9.1
24.6
96.3
31.4
9.5
24.6
96.1
27.9
9.2
24.3
96.3
31.1
9.1
24.6
96.3
31.4
9.2
24.4
96.2
31.6
9.5
24.3
96.2
27.4
9.6
24.2
96.1
28.4
9.5
24.6
96.1
27.9
2
3
4
5
273.3
292.1
289.6
319.1
374.1
299.9
319.1
328.9
340.0
356.5
374.1
26.0
64.9
68.9
26.1
70.2
76.6
19.7
98.1
50.9
13.4
133.9
50.3
12.5
164.2
65.9
14.5
123.6
43.1
13.4
133.9
50.3
14.2
138.0
52.8
14.0
143.8
57.1
13.7
153.8
61.3
12.5
164.2
65.9
7
8
9
106.9
6.6
111.4
7.8
109.6
11.3
108.0
13.5
118.4
13.1
105.3
13.5
108.0
13.5
110.7
13.1
112.2
12.8
115.5
12.3
118.4
13.1
10
11
1249.5
1772.0
822.7
1138.0
1030.6
1531.0
1202.3
1803.0
1175.2
1812.1
1082.3
1677.0
1202.3
1803.0
1269.0
1895.1
1260.8
1913.3
1061.0
1700.6
1175.2
1812.1
12
13
376.4
277.1
45.8
53.4
294.1
197.7
46.7
49.7
356.2
252.3
49.6
54.3
350.0
274.6
49.1
26.3
338.2
269.2
48.6
20.4
354.0
260.0
49.3
44.7
350.0
274.6
49.1
26.3
354.1
283.6
49.0
21.5
348.5
282.3
49.0
17.3
318.7
251.7
48.8
18.2
338.2
269.2
48.6
20.4
14
15
16
17
(1) Includes 401(k) type plans.

L.225.i Individual Retirement Accounts (IRAs) (1)

1
Total held at:
2
3
4

Saving institutions
Credit unions
5
6
7
8

Mutual funds
Other self-directed accounts
4784.0
3585.0
4251.0
4710.0
ND
4472.0
4710.0
4898.4
4853.3
4611.0
ND
210.7
71.2
58.2
248.1
77.9
65.5
275.5
81.2
74.2
296.5
86.8
77.2
ND
ND
ND
288.2
86.5
77.2
296.5
86.8
77.2
298.0
87.5
77.5
305.1
87.5
77.9
312.8
91.5
78.3
ND
ND
ND
2
3
4
426.0
220.0
1981.0
1816.9
381.6
266.0
1264.0
1281.9
405.5
226.0
1651.0
1537.6
436.0
203.0
1911.0
1699.5
ND
ND
ND
ND
419.0
208.0
1782.0
1611.1
436.0
203.0
1911.0
1699.5
446.0
198.0
1994.0
1797.3
450.0
207.0
2002.0
1723.9
438.9
217.0
1732.0
1740.5
ND
ND
ND
ND
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).
118
Z.1, March 8, 2012
(Billions of dollars; All Sectors -- Flows)
Households
and Nonprofit
Organizations
State
and Local
Governments
Nonfinancial
Business
Domestic
Nonfinancial
Sectors
Federal
Government
Domestic
Financial
Sectors
Rest of
the World
Instrument
Discrepancy
All
Sectors
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
(15)
(16)
(17)
1
2
3
Gross saving less net cap. transfers

Capital consumption
Net saving (1 less 2)
----
1968.1
1207.3
760.7
----
1705.5
1106.3
599.2
----
228.7
214.3
14.4
----
-1162.1
137.9
-1300.0
----
2740.2
2665.9
74.3
----
301.8
188.0
113.7
----
462.1
-462.1
----
3504.0
2853.9
650.1
----
4
5
6
7
8
9
10
Gross investment (5 plus 11)

Consumer durables
Residential
Nonresidential
Inventory change
2025.8
1482.9
1088.1
286.5
120.3
--12.0
--------
1664.6
1309.6
-52.0
1214.0
47.0
-3.5
--------
242.5
337.6
-8.2
313.9
-15.5
--------
-1169.7
160.2
-1.7
158.6
--0.1
--------
2763.2
3290.3
1088.1
348.5
1806.8
47.0
-0.1
--------
176.1
194.8
--1.2
195.9
---
--------
486.6
0.1
----0.1
--------
3425.9
3485.1
1088.1
347.3
2002.7
47.0
--
--------
78.1
18.9
------
11
12
13

Total liabilities
542.9
403.0
--
---140.0
355.0
969.0
--
--614.0
-95.2
-114.4
--
---19.2
-1329.9
-129.3
--
--1200.6
-527.1
1128.2
--
--1655.3
-18.7
1737.1
--
--1755.8
486.5
881.1
--
--394.6
-59.2
3746.5
--
--3805.8
59.2
---
----1.6
-119.5
287.4
-23.0
--
----------
---22.1
-232.1
130.3
-50.1
-0.6
----------
-----15.7
17.7
-2.4
-4.6
----------
21.9
-----257.8
-0.3
---
0.0
0.0
0.0
-------
21.9
--20.5
-109.5
435.1
-75.5
-5.2
0.0
0.0
0.0
-------
-0.2
0.0
0.7
-47.3
603.1
46.5
-86.8
-30.9
-44.6
----821.9
232.8
373.2
-112.8
-124.5
0.0
---191.2
75.8
24.9
-6.4
53.7
21.7
---16.1
------
21.7
0.0
0.7
-26.9
794.3
231.9
373.2
-112.8
3.9
21.7
0.0
0.0
-16.1
821.9
232.8
373.2
-112.8
-124.5
---0.7
10.7
27.6
1.0
---128.4
14
15
16
17
18
19
20
21
22

SDR certificates
Treasury currency
Foreign deposits
Interbank claims
Checkable dep. and currency
Fed. funds and security RPs
23
24
25
26
27
28
29
30
31
32

Open market paper
Treasury securities
Agency- and GSE-backed sec.
Corporate and fgn. bonds
Bank loans n.e.c.
Mortgages
Consumer credit
-381.6
-5.3
-157.0
-22.9
-78.5
-105.2
--1.5
-11.3
--
-113.9
----7.8
-26.3
1.9
-220.5
86.3
3.7
3.3
7.8
-0.2
-1.6
----3.8
-1.8
472.9
33.3
--15.1
376.0
124.4
34.1
-109.9
--
-84.4
20.8
-59.0
-38.2
-0.2
-4.2
---3.7
--
-58.6
----59.5
--0.9
---
-2.4
---118.1
--0.1
-3.1
4.0
108.7
1067.9
-1066.8
1.1
----0.0
--
-464.7
18.8
-208.1
-179.5
-80.3
-109.5
-1.6
-14.7
106.9
1368.3
33.3
1066.8
1.1
-52.2
376.0
150.6
36.8
-330.4
86.3
1027.6
-105.4
988.8
198.3
17.1
200.1
132.3
-74.6
-308.4
-20.6
-556.4
-67.6
--38.2
--343.1
-47.4
-67.3
7.2
--
215.5
-1.6
286.1
-55.9
10.9
-66.2
-42.2
---
-33.4
-53.8
----8.4
29.2
-0.3
---
778.5
-88.2
1066.8
-37.1
-52.2
24.5
132.3
-30.8
-323.1
86.3
778.5
-88.2
1066.8
-37.1
-52.2
24.5
132.3
-30.8
-323.1
86.3
-----------
33
34
35
36
Corporate equities
Mutual fund shares
Trade credit
Security credit
-142.5
298.8
-58.1
--14.0
-39.7
-16.8
182.8
--
-489.9
-230.4
--
-3.9
-1.2
-4.8
--
--39.4
--
40.0
-1.9
--
--28.4
--
-106.5
314.4
179.9
58.1
-489.9
-312.3
-39.7
-108.4
25.8
-1.4
39.6
153.1
411.3
-3.9
137.3
-31.7
71.1
16.1
0.0
90.1
--32.5
0.0
-246.6
411.3
194.6
97.6
-246.6
411.3
275.9
97.6
--81.2
--
37
38
39
40
41

Taxes payable
Equity in noncorp. business
Miscellaneous
52.6
139.8
--38.2
33.7
-----0.4
----431.9
--10.0
-36.1
426.5
--11.2
--57.8
------
--63.7
-3.7
1.3
---102.9
52.6
139.8
74.9
-38.2
411.6
1.3
-10.0
-36.1
529.0
7.2
---306.3
58.5
139.8
10.2
-2.2
217.5
----271.0
----364.9
59.8
139.8
74.9
-38.2
988.9
59.8
139.8
20.3
-38.2
1111.3
---54.6
-122.4
42
Sector discrepancies (1 less 4)
-57.8
--
40.9
--
-13.7
--
7.5
--
-23.0
--
125.7
--
-24.5
--
78.1
--
78.1
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.
Z.1, March 8, 2012
(Billions of dollars; All Sectors -- Assets and Liabilities)
Households
and Nonprofit
Organizations
State
and Local
Governments
Nonfinancial
Business
Domestic
Nonfinancial
Sectors
Federal
Government
Domestic
Financial
Sectors
Rest of
the World
Instrument
Discrepancy
All
Sectors
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
(15)
(16)
(17)
1
2
3

Total liabilities and equity
Total liabilities
49067.2
---
-13773.9
13773.9
18654.6
---
-40784.8
19219.8
2524.8
---
-3715.0
3715.0
1355.8
---
-12282.3
12282.3
71602.4
---
-70556.0
48991.0
65602.9
---
-65738.3
61656.1
18044.2
---
-14310.7
10447.8
155249.5
---
-150605.0
121094.8
-4644.5
---
4
5
6
7
8

SDR certificates
Treasury currency
Foreign deposits
Interbank claims
---53.2
--
------
---94.0
--
------
------
------
103.9
-----
54.2
5.2
25.9
---
103.9
--147.3
--
54.2
5.2
25.9
---
36.8
5.2
44.2
58.5
1622.7
----1913.5
54.2
---201.5
129.6
--896.1
--
194.9
5.2
44.2
205.8
1824.1
183.8
5.2
25.9
896.1
1913.5
-11.0
--18.3
690.3
89.4
9
10
11
12
Checkable dep. and currency

Fed. funds and security RPs
304.8
6707.7
1106.7
--
-----
1195.8
940.8
538.1
11.6
-----
107.2
293.2
84.6
166.5
-----
84.3
1.7
---
-----
1692.1
7943.4
1729.4
178.1
-----
427.7
589.6
849.8
802.4
2592.6
8805.6
2642.5
1108.2
466.2
272.6
63.3
-44.9
-----
2586.0
8805.6
2642.5
935.6
2592.6
8805.6
2642.5
1108.2
6.5
--172.6
13
14
15
16
17
18
19
20
21
22

Open market paper
Treasury securities
Agency- and GSE-backed sec.
Corporate and fgn. bonds
Bank loans n.e.c.
Mortgages
Consumer credit
4933.1
58.2
958.9
196.1
1879.4
1737.0
-24.7
78.9
--
13222.9
---254.4
-294.8
138.0
10014.7
2521.0
324.3
74.8
95.5
15.0
24.1
---58.0
57.0
11631.3
116.2
--497.4
4936.3
1438.9
1338.9
3303.7
--
1254.9
93.0
444.6
388.8
5.9
150.1
--172.4
--
3006.8
---2991.6
--15.3
---
752.1
--31.1
-0.8
-184.5
110.6
425.1
10453.6
-10428.3
25.3
----0.0
--
7264.5
226.0
1499.0
630.9
1909.4
1888.0
-209.2
419.9
482.1
38314.6
116.2
10428.3
25.3
3743.4
4936.3
1733.7
1492.1
13318.3
2521.0
38278.6
552.5
4257.9
5908.8
1751.3
7182.0
2006.5
1508.0
13072.7
2038.9
13580.0
508.3
-7535.8
-4827.3
128.4
405.9
174.3
--
8591.3
190.7
4671.4
1021.4
82.7
2422.5
-202.6
---
2239.7
344.8
---1728.8
144.3
21.8
---
54134.3
969.2
10428.3
7561.1
3743.4
11492.5
2006.5
1919.8
13492.6
2521.0
54134.3
969.2
10428.3
7561.1
3743.4
11492.5
2006.5
1919.8
13492.6
2521.0
-----------
23
24
25
26
Corporate equities
Mutual fund shares
Trade credit
Security credit
8140.2
4554.7
-752.3
--288.2
238.5
-229.3
2845.9
--
14276.6
-2347.3
--
106.7
30.0
170.7
--
--708.2
--
57.5
-44.8
--
--255.3
--
8304.5
4814.0
3061.3
752.3
14276.6
-3599.0
238.5
10880.6
2585.2
134.2
560.1
4071.9
7955.9
14.2
1073.9
3026.4
556.8
132.4
0.0
3862.9
-65.8
0.0
22211.4
7955.9
3327.9
1312.4
22211.4
7955.9
3679.0
1312.4
--351.1
--
27
28
29
30
31

Taxes payable
Equity in noncorp. business
Miscellaneous
1190.6
13160.9
-7298.7
864.1
----24.3
----12474.8
--143.9
7288.4
5097.3
--307.5
-3.6
------
--166.5
-144.9
49.7
---1438.3
1190.6
13160.9
474.0
7298.7
13487.5
49.7
-143.9
7288.4
6559.9
148.3
---8579.1
1289.3
13160.9
-71.8
10.4
7591.3
----4724.4
----7116.5
1338.9
13160.9
474.0
7298.7
26790.9
1338.9
13160.9
72.1
7298.7
21267.7
---401.9
--5523.2
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 (line 4) because by international accounting convention, monetary gold is a
financial asset without a corresponding liability.
119
120
Z.1, March 8, 2012
B.100.e Balance Sheet of Households and Nonprofit Organizations with Equity Detail (1)
2007
2008
2009
2010
Q1
Assets
Q2
2011
Q3
Q4
Q1
Q2
Q3
Q4
79544.5
66688.6
69172.9
70330.6
69141.0
70234.1
72729.8
73770.3
73583.4
71032.7
72229.0
Nonfinancial assets
27970.0
24454.0
23738.6
23876.6
24024.9
23416.8
23477.4
23227.7
23321.2
23428.7
23161.8
Financial assets
51574.6
42234.6
45434.3
46454.0
45116.1
46817.3
49252.4
50542.5
50262.2
47604.0
49067.2
7406.0
4936.6
8013.5
4865.2
7883.9
5096.7
7808.6
5192.1
7715.7
5310.2
7719.9
5252.9
7790.1
5314.4
7782.1
5288.3
7922.2
5048.4
8035.4
4987.9
8172.4
4933.1
4
5
20950.7
12444.7
15946.4
16611.1
14820.9
16642.8
18347.7
19459.0
19180.3
15903.6
17325.8
9636.8
5746.9
7408.7
7649.4
6918.7
7863.7
8663.1
9211.7
9008.2
7415.2
8140.2
11314.0
6697.9
8537.6
8961.7
7902.2
8779.1
9684.5
10247.3
10172.1
8488.4
9185.5
1466.8
4260.5
1660.7
2599.8
2221.0
149.1
3216.5
956.9
2471.9
903.5
1568.5
1338.3
85.6
1845.1
1220.3
3055.6
975.2
2080.3
1684.5
119.4
2457.8
1285.7
3206.2
999.0
2207.2
1778.7
127.8
2563.3
1173.8
2813.5
862.4
1951.1
1570.0
112.6
2232.3
1291.4
3123.3
926.4
2196.9
1741.0
125.6
2497.8
1420.5
3437.1
1004.3
2432.9
1939.0
143.7
2744.2
1505.9
3611.7
1034.9
2576.8
2025.4
152.1
2952.2
1503.7
3571.3
1004.5
2566.8
2008.0
152.9
2936.2
1358.4
3011.0
819.0
2191.9
1646.1
124.1
2348.9
1453.6
3264.1
883.8
2380.3
1826.0
138.0
2503.8
9
10
11
12
13
14
15
4
5
Deposits
Equity shares at market value
Directly held
Indirectly held
9
10
11
12
13
14
15

Defined benefit plans
Defined contribution plans
Mutual funds
16
Other
18281.3
16911.2
16507.4
16842.3
17269.3
17201.7
17800.2
18013.1
18111.3
18677.1
18635.9
16
17
Liabilities
14346.4
14229.7
14048.0
13930.5
13892.2
13874.7
13905.7
13835.8
13829.5
13768.3
13773.9
17
18
Net worth
65198.2
52458.9
55124.9
56400.0
55248.8
56359.4
58824.1
59934.5
59753.8
57264.4
58455.1
18
17047.6
10190.6
13272.4
13818.5
12375.7
13961.5
15389.2
16383.1
16152.5
13425.9
14602.1
19
26.3
40.6
18.7
29.5
23.1
35.1
23.6
35.8
21.4
32.9
23.7
35.5
25.2
37.3
26.4
38.5
26.1
38.2
22.4
33.4
24.0
35.3
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.

Flow of Fund Accounts

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Flow of Fund Accounts

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FEDERAL RESERVE statistical release

Flow of Funds Accounts

Board of Governors of the Federal Reserve System, Washington DC 20551

Flow of Funds Summary Statistics

Debt of the domestic nonfinancial sectors expanded

annual rate of 1 percent in the fourth quarter. For

Growth of Domestic Nonfinancial Debt1

Flow of Funds Accounts, Fourth Quarter 2011

Availability of Data for Latest Quarter

Credit Market Debt Growth by Sector

Credit Market Borrowing by Sector

Credit Market Debt Outstanding by Sector

Total Credit Market Borrowing and Lending

Credit Market Borrowing by Nonfinancial Sectors

Credit Market Borrowing by Financial Sectors

Credit Market Borrowing, All Sectors, by Instrument

Total Liabilities and Its Relation to Total Financial Assets

Distribution of Gross Domestic Product

Distribution of National Income

Saving and Investment

Net Capital Transfers

Derivation of Measures of Personal Saving

Households and Nonprofit Organizations

Nonfinancial Corporate Business

Nonfinancial Noncorporate Business

State and Local Governments

Rest of the World

U.S.-Chartered Commercial Banks

Foreign Banking Offices in U.S.

Bank Holding Companies

Banks in U.S.-Affiliated Areas

Property-Casualty Insurance Companies

Life Insurance Companies

Private Pension Funds

State and Local Government Employee Retirement Funds

Federal Government Retirement Funds

Money Market Mutual Funds

Closed-End and Exchange-Traded Funds

Farm Business (Discontinued)

Agency- and GSE-Backed Mortgage Pools

Issuers of Asset-Backed Securities

Real Estate Investment Trusts

Security Brokers and Dealers

Special Drawing Rights (SDRs) Certificates and Treasury Currency F.201

U.S. Deposits in Foreign Countries

Net Interbank Transactions

Checkable Deposits and Currency

Time and Savings Deposits

Money Market Mutual Fund Shares

Federal Funds and Security Repurchase Agreements

Open Market Paper

Agency- and GSE-Backed Securities

Municipal Securities and Loans

Corporate and Foreign Bonds

Mutual Fund Shares

Bank Loans Not Elsewhere Classified

Other Loans and Advances

Multifamily Residential Mortgages

Life Insurance and Pension Fund Reserves

Taxes Payable by Businesses

Proprietors' Equity in Noncorporate Business

Total Miscellaneous Financial Claims