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Z.l September 12, 1991 Flow of Funds 1991.-Q2
Flow of Funds Accounts, Second Quarter 1991
Seasonally Adjusted and Unadjusted
Board of Governors of the Federal Reserve System, Washington, D.C. 20551
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
CONTENTS PAGE
i-ii General Information iii-iv Data Availability for Preliminary Estimates v-vii Debt Aggregate Growth Rates
SUMMARY TABLES
1 Income and Product Distribution 2 Funds Raised in Credit Markets 4 Credit Market Supply of Funds
SECTOR TABLES
6 Households 8 Total Nonfinancial Business, Farm Business,
Noncorporate Business 10 Nonfinancial Corporate Business 12 State and Local Governments 14 U.S. Government and Credit Agencies 16 Foreign (Rest of World) 18 Banking System:
Monetary Authority, Commercial Banking Summary
20,22 Commercial Banking Subsectors: U.S.-Chartered Commercial Banks, Foreign Banking Offices in U.S., Domestic Affiliates of Commercial Banks (BHCs). Banks in U.S. Possessions
24 Nonbank Finance Summary 26 Savings Institutions:
Savings and Loan Associations, Mutual Savings Banks, Credit Unions
28 Insurance and Pension Funds: Life Insurance Companies. Private Pension Funds. State and Local Government Employee Retirement Funds, Other Insurance Companies
30,32 Finance n.e.c: Finance Companies, Mutual Funds, MMMFs, REITs, Security Brokers and Dealers, Securitized Credit Obligations (SCOs)
TRANSACTION TABLES
34 Monetary and Insurance Reserves 36 Interbank Claims 38.40 Deposit Claims
continued
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TRANSACTION TABLES --continued
42 U.S. Government Securities 44 Private Securities:
Tax-Exempt Debt Securities and Loans, Corporate and Foreign Bonds, Mutual Funds and Other Corporate Equities
46,48 Mortgages: Home Mortgages, Multifamily Residential Mortgages, Commercial Mortgages, Farm Mortgages
50 Consumer Credit and Bank Loans n.e.c. 52 Open-Market Paper and Other Loans 54 Security Credit, Trade Credit,
Taxes Payable, Proprietors' Equity in Noncorporate Business
56,58 Miscellaneous 60 Total Net Borrowing and Lending in Credit Markets
Total Liabilities in Relation to Total Financial Assets
62 Saving by Individuals 64 System Discrepancies
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FLOW OF FUNDS ACCOUNTS
Second Quarter 1991
Data in the accounts presented in this publication have been revised from the first quarter of 1990 onward. There have been no structural changes in the accounts.
Preliminary estimates. Figures shown for the most recent quarter in these tables are based on preliminary and incomplete information. A list of the principal sources of information available when the second quarter data were compiled follows this preface. The significance of individual items in the tables should be judged on the basis of that list, which is summary in form and is by no means a complete statement of sources of data or of derivation methods. For nonfinancial activity included in the accounts, such as sector income and capital outlays, the Commerce Department's National Income and Product Accounts (NIPA) are the principal source.
Virtually all quarterly data sources are compiled within five or six months of the end of the quarter, and 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 first quarterly estimate is put together and those that are not yet completed. However, the items that are shown as available are, in general, also preliminary in the sense that many series are subject to regular quarterly or annual revision by source agencies.
Margins of Uncertainty. Flow of Funds statistics, like data in all social accounts, are subject to uncertainties resulting from incompatibilities among source data, potential revisions in both financial and nonfinancial series, and incomplete data in certain 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 transaction types. The size of such discrepancies relative to the main asset or liability components is one indication of the degree of measurement difficulty with source data, especially on an annual basis. For quarterly data, differing seasonal adjustment methods in financial and nonfinancial components sometimes result in discrepancies that cancel in annual data. Experience also suggests that many discrepancies for the latest few quarters tend to be reduced with the introduction of revised national accounts figures or with annual revisions in financial data.
Availability of Flows and Outstandings. Flow of Funds statistics are usually compiled and available about two months following the last quarter reported. The next benchmark revisions to the Flow of Funds Accounts are scheduled now for early in 1992, owing to the delayed release of the annual revisions to the NIPA until late November. The Z.7 release, Flow of Funds Summary Statistics, is made available as soon as a new quarter's data have been compiled. The Z.7 provides an overview of major credit market demands and supplies, together with developments in a few key sectors. The Z.7 is available from the Board's Publications Services and electronically through the
- i -
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Economic Bulletin Board of the Department of Commerce. The current publication--which is the Z.l release and covers the full range of the accounts--is subject to printing and mailing delays of up to two weeks from the time the estimates are completed. To facilitate access in the meantime, preliminary copies are distributed to Federal Reserve Bank information offices for use by the public.
This release presents data on flows for economic sectors and transactions. The outstandings counterparts of these flows are published once a year with the annual revision in Flow of Funds Accounts: Financial Assets and Liabilities, which constitutes part of the same release as the flow accounts. All subscribers to the Z.l release, therefore, receive both the quarterly flow and the annual outstandings publications. Summary annual and quarterly data on major credit market developments, including flows and positions, also are regularly published in four tables in the statistical appendix of the Federal Reserve Bulletin.
The current quarterly tables are an extension of a body of data that begins in 1946 in annual form and in 1952 quarterly. Annual flows and year-end positions for almost the entire period covered by the accounts have been published in two volumes: Flow of Funds Accounts 1946-1969, Annual Total Flows and Year-End Assets and Liabilities. and Flow of Funds Accounts, 1970-1987, Annual Total Flows and Year-End Assets and Liabilities. Each volume costs $5.00 and can be ordered from:
Publications Services, Stop 138 Board of Governors of the Federal Reserve System
20th and Constitution Avenue, N.W. Washington, D.C. 20551
(202) 452-3245
Subscription Information. The Federal Reserve Board charges nominal amounts for subscriptions to all statistical releases. The annual price of the Z.7 Summary Statistics release is set at $5.00; the price of the full Z.l release is $15.00. The Flow of Funds Section also publishes Balance Sheets for the U.S. Economy, which is designated as the Federal Reserve Board's C.9 release and appears twice a year, usually in April and October. The price of that release is $5.00 per year. Subscription inquiries for these releases should also be directed to Publications Services. Computer tapes for the entire published data base, or data on diskettes, may be purchased from the National Technical Information Service, 5285 Port Royal Road, Springfield, Virginia 22161. The NTIS phone number is: (703) 487-4808. Tape and diskette prices are determined by NTIS. Quarterly or annual data for specific sectors of the accounts, in reasonable scope, are available in printed form on request from the Flow of Funds Section, Stop 95, at the Federal Reserve Board. The phone number of the section is (202) 452-3482.
-ii-
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NONFINANCIAL DATA
1. National Income and Product Accounts (NIPA)
FINANCIAL DATA
2. Households
3. Farms
4. Nonfarm noncorporate business
5. Nonfinancial corporate business
6. State and local governments
7. Rest of the world (U.S. international transactions)
8. U.S. government
9. Sponsored credit agencies
vailability of Data for Preliminary Estimates for 1991:2
Available at time of publication
Preliminary estimates, seasonally adjusted, for 1991:2.
Major items missing
None.
Estimates for this sector are almost entirely residual and derived from data for other sectors. Availability of data is dependent on schedules for other sectors. Data for consumer credit borrowing, which are estimated directly rather than through a residual calculation, are available for 1991:2.
Bank loans for 1991:2. For sponsored agency loans, see Item 9 below.
Partial Internal Revenue Service Statistics of Income data for 1988; bank and finance company loans, mortgage borrowing, and consumer credit for 1991:2.
Security offerings, mortgages, bank loans, open-market paper, finance company Joans, bank loans, open-market paper, finance company loans, and foreign direct investment for 1991:2.
Gross security offerings, deposits at banks, and nonmarketable U.S. government securities issues for 1991:2.
NIPA estimates, data from bank reports of condition, partial Treasury International Capital System data for banks and securities transactions for 1991:2; Balance of Payments data for 1991:2.
Data on federal receipts and outlays from the Monthly Treasury Statement of Receipts and Outlays for 1991:2; data from the Federal Financing Bank statement for 1991:2.
U.S. government loans for 1991:1 and 2. See item 8 below.
Detail for partnership balance sheets since 1987. Statistics of Income data since 1988
Source data for estimates of trade debt, trade credit, and other asset items for 1990 through 1991:2.
Security retirements, other asset items for 1991:2.
None.
Loans outstanding for 1991:1 and 1991:2 except at the Federal Financing Bank.
Balance sheet data for FNMA, Federal Home Loan Banks, FHLMC. SLMA, FICO, REFCORP, and FCA for 1991:2.
None.
-iii-
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10. Federally related mortgage pools
11. Monetary authority
12. Commercial banking
13. Savings and loan associations
14. Mutual savings banks
15. Credit unions
16. Life insurance companies
17. Private pension funds (including FERS)
18. State and local government retirement funds
19. Other insurance companies
20. Finance companies
21. Real estate investment trusts
22. Open-end investment companies and money market funds
23. Security brokers and dealers
24. Issuers of securitized credit obligations
All data for 1991:2 are available.
All data for 1991:2 are available.
All data for 1991:2 are available.
Data are available through 1991:1. Monthly OTS data for some major balance sheet items for 1991:2.
Data are available through 1991:1. Data for FDIC reporters for 1991:2.
All data for 1991:2 are available.
Asset data are available through 1990:4 and liability data through 1989:4.
All data for 1991:2 are available.
Data are available through 1990:4.
Some data are available through 1990:4.
All data for 1991:2 are available.
Data are available through 1991:2.
All data are available for 1991:2.
Data are available through 1991:1.
Complete data from Trepp/PSA Information Services and securitized consumer credit data for 1991:2.
None.
None.
None.
Data from report of condition for 1991:2.
Data from report of condition for 1991:2.
None.
Asset data for 1991:1 and 2 and liability data for 1990:1 through 1991:2.
None.
Data for 1991:1 through 1991:2.
Data for 1991:1 through 1991:2.
None.
None.
None.
Data for 1991:2.
None.
-iv-
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Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
r 12, 1991
NONFINANCIAL DEBT OUTSTANDING BY SECTOR (Billions of dollars)
Total U.S. govt.
Nonfederal
Domes tic Sec tors Households Business State & Home Consumer Long*- Short- local
Total mtgs. credit Total term term govts.
Foreign and
Foreign domestic
Memo: Private finan. assets
Yeai—end outstandings
1973 1974 1975 1976 1977
1978 1979 1980 1981 1982
1983 1984 1985
1902.5 2072.2 2256.0 2496.4 2812.4
3179.2 3560.2 3897.5 4279.6 4667.6
5208.5 5959.4 6804.5
349. 360. 446. 515. 572.
626. 663. 742, 830. 991.
1177 1376 1600
.1
.8 ,3 ,8 .5
.2
.6
.8
.1
.4
.9
.8
.4
1553. 1711. 1809. 1980. 2239.
2553. 2896. 3154. 3449. 3676.
4030, 4582, 5204,
.5
.3
.7
.6 8
,0 .6 8 ,5 .2
,6 .6 .1
653.6 704.0 750.4 838.4 974.5
1138.3 1310.4 1430.2 1549.2 1626.3
1791.9 2018.8 2296.0
396, 431. 469, 529, 619.
727. 846, 942,
1020. 1059,
1156 1290 1440
.6
.4
.7
.4
.2
.7
.9
.4
.3
.7
.0
.1
.6
193. 202. 207. 230. 267.
312. 352. 355. 372. 388.
437 519 601
.5
.5
.6
.4
.2
.3
.8
.4
.3
.7
.6
.3
.8
705.1 799.2 839.9 908.8
1023.1
1154.8 1311.3 1438.1 1596.6 1718.5
1883.7 2180.8 2434.2
455, 501, 549, 599. 668.
739. 812. 886, 951,
1020,
1135 1290 1472
.1 ,9 .6 1 .0
.5
.8
.7 ,5 .7
.0
.8
.4
250.0 297.3 290.3 309.7 355.1
415.3 498.5 551.3 645.1 697.8
748.7 890.0 961.8
194.8 208.2 219.4 233.4 242.3
259.9 274.9 286.6 303.7 331.4
355.0 383.0 473.9
67.4 81.2 95.6
116.0 129.4
157.6 172.9 197.2 220.7 210.4
227.7 235.5 236.7
1970, 2153, 2351. 2612. 2941.
3336. 3733. 4094. 4500, 4878,
5436 6194 7041
.0
.4 5 4 8
.9
.1
.8
.3
.0
.3
.9
.1
1335, 1453. 1584. 1752. 1942.
2172. 2429. 2667. 2956. 3258.
3648 4127 4607
,7 .8 .9 ,9 7
1 .2 5 ,6 ,7
.6
.1
.8
Quarterly outstandings (seasonally adjusted)
1987 —
1988 —
1989
1990 --
1991 —
I II III IV
I II III IV
I II III IV
I II III IV
I II
7797. 7991, 8154, 8343,
8532, 8736 8914 9096,
9313, 9480, 9650, 9805,
10118, 10268. 10432, 10557,
10660. 10775.
.9
.4
.0 ,9
.9
.1
.3
.0
.8 ,5 .2 .2
.9
.1
.5
.3
.2 8
1846. 1891. 1915. 1960.
2004, 2037, 2081. 2117,
2154, 2179. 2223. 2269.
2358. 2415. 2486. 2568,
2620. 2680.
,7 .0 .8 3
.3
.1 ,6 .8
.6
.6
.1
.4
.2 3 .8 .9
.1 5
5951.2 6100.4 6238.1 6383.6
6528.6 6699.0 6832.7 6978.2
7159.2 7300.8 7427.0 7535.8
7760.6 7852.8 7945.7 7988.4
8040.1 8095.3
2643.6 2734.6 2802.7 2879.1
2952.0 3042.7 3119.4 3191.5
3290.1 3356.1 3428.8 3501.8
3687.5 3751.9 3808.7 3847.2
3886.9 3937.2
1712. 1781. 1832, 1887.
1936. 2008 2066, 2118
2187 2240, 2297, 2352
2520, 2576, 2622 2660,
2696, 2 740.
.6
.2
.3
.8
.5
.3
.3
.5
.1 ,2 .1 .5
.7
.0
.3
.7
.0
.2
659. 667. 680. 693.
707. 720. 730. 743.
761. 770. 779. 790,
802. 803. 808, 808.
803. 798.
.0 3 ,3 ,2
5 .1 ,7 .5
.0 3 .5 .6
.3
.0
.3
.9
.1
.0
2786, 2835, 2887, 2945,
3009. 3076, 3122, 3182,
3254, 3321, 3368, 3400,
3437, 3460, 3489, 3492,
3501, 3501
.7
.2 ,6 .6
.1
.3 ,1 .2
.5
.9
.2
.0
.3
.8
.8
.2
.1
.8
1751.8 1781.8 1817.2 1845.7
1880.5 1922.8 1947.3 1984.1
2021.9 2055.5 2078.5 2102.1
2113.8 2127.5 2139.3 2150.4
2168.1 2189.0
1034.9 1053.4 1070.4 1099.8
1128.6 1153.5 1174.8 1198.1
1232.6 1266.3 1289.7 1297.8
1323.5 1333.3 1350.5 1341.8
1333.0 1312.9
520. 530. 547. 558.
567. 580. 591. 604.
614. 622. 630. 634.
635. 640. 647. 649.
652. 656.
,9 6 ,7 ,9
,5 1 2 .5
.5
.9
.0
.1
.9
.2
.2
.1
.1
.3
238. 236. 239. 244.
246. 249. 251. 253.
254. 251. 257. 261.
261. 272. 279, 284,
297. 284,
.0 3 ,3 6
9 0 .1 .9
.2 4 9 .5
.9 2 .6 .9
.6
.3
8035. 8227. 8393. 8588.
8779. 8985, 9165, 9349
9567, 9731, 9908
10066
10380 10540, 10712, 10842,
10957, 11060
.9 7 3 .5
.9
.1 3 .9
.9
.9
.1
.8
.8
.3
.1
.3
.8
.2
5060. 5180. 5289, 5438.
5557. 5693. 5854. 5938
6095, 6217. 6348, 6420,
6565, 6652, 6732 6767,
6849, 6879
5 4 7 0
.0
.9
.9
.2
.4
.7
.4
.6
.3
.9
.7
.4
.5
.7
-vii-
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Income and Product Distribution Income and Product Distribution
SEASONALLY ADJUSTED ANNUAL RATES
Income and Product Accounts: GNP Expenditures and Gross Saving
SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS, $ BILLIONS 1987 1988 1989 1990
I 1989 I 1990 | 1991 I IV I I II III IV I I II
1 4515 .6 4873 .7 5200 .8 5465 .2 5289.2 5375.6 5443.4 5514.5 5527.3 5557.7 5615.8 To ta l GNP
2 3 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
33 34 35
3930.8 3009.4 423.4 540.2 381.3
699.5 671 .2 226.3
5.3 182.8 178.8
1.7
2.3 1.1 1.1
38.2 19.9 16.6 1.0 .7
444.9 18.3 9.5
52.9 46.2 318.0
28.3 -4.0 32.2 1.3
30.9
-114.7 449.6 564.3
4200.7 3258.2 457.5 582.3 380.3
747.1 720.9 232.5 5.3
199.6 198.3
1.1,
.2
.1
.1
27.6 20.8 5.2 1.2 .4
488.4 19.0 6.5
57.8 53.4 351.8
26.2 -3.6 29.8 7.8
22.0
-74.1 552.0 626.1
4475.7 3450.1 474.6 625.6 400.0
771.3 743.0 231.0 5.1
208.6 211.2
1.9
-4.5 -2 .2 -2.2
17.3 21.6 -5.6 1.2
K
512.0 19.5 2.4 63.7 60.9 365.5
28.3 5.0 23.3 7.9 15.4
-46.1 626.3 672.3
4755.4 3657.3 480.3 674.1 424.0
741.1 746.1 222, 0 4.8
209.1 209.8 2.4
-3.2 -1.6 -1.6
8.1 7.0 .2 .8 .2
524.1 20.1 4.9
57.4 66.1
375.6
-5.0 2.4
-7.4 -.4 -7.0
-31.3 672.8 704.1
4561.8 3518.5
4 7 1 . 2 643 .4 399.9
762. 737, 225,
5, 207, 214,
- 9 . 2 - 4 . 6 - 4 . 6
13.4 2 1 . 9 - 9 . 7
1.6 - . 5
19, 1.
65 . 6 1 .
363 .
2 5 . 0 .9
2 4 . 1 8 . 9
15 .2
- 3 5 . 3 642 .8 6 7 8 . 1
4 6 5 8 . 3 3588 .1
4 9 2 . 1 6 5 9 . 6 4 1 0 . 6
74 7.3 759.0 235.9
4 . 9 2 1 9 . 6 2 1 9 . 6
2 . 5
- 2 . 5 - 1 . 3 - 1 . 3
11 .4 10 .0
.4 1.5 - . 4
5 2 3 . 1 19.8 2.3
6 1 . 0 6 4 . 1
375.8
- 1 1 . 7 5 . 3
- 1 7 . 0 - . 8
- 1 6 . 2
- 3 0 . 0 661.3 691.3
4709.2 3622.7 4 78.4 664.6 421.9
759 .1 745 .6 229 .1
4 . 9 215 .4 2 1 4 . 4
- 1 . 5 - . 7 - . 7
8.8 8.0
.6
.4
5 1 6 . 5 19 .9
4 . 2 59.8 64.8
3 6 7 . 8
13 .5 .5
13 .0 .6
12 .4
-24 .9 659.7 684.6
4796 .2 3693.4
4 8 2 . 3 677.0 425.8
759 .7 750 .7 217 .9
4.9 206.8 205.1
2.4
- . 7 - . 4 - . 4
6.3 6.0 - . 6
. 5
.4
5 3 2 . 8 2 0 . 0
6 .4 5 8 . 3 6 6 . 1
382 .0
9.0
6.8 .3
6 .5
- 4 1 . 4 672 .7 714 .1
4857.8 4884.3 3724.9 3742.8 468.5 455.3 695.3 697.7
698, 729 205,
4 194 200
- 8 . 1 - 4 . 0 - 4 . 0
6 .1 4 . 0 1.2
.5
.4
5 2 4 . 0 2 0 . 7
6 .8 5 0 . 7 6 9 . 1
376.7
- 3 0 . 9 1.5
- 3 2 . 4 - 1 . 6
- 3 0 . 8
-28 .8 697.4 726.2
4944.1 Current ou t lays 2 3791.2 Households 3 454.0 Of which consumer durables 4 701.8 State and local governments 5
437.6 443.8 451.1 U.S. government
659.9 656.8 Gross domestic investment 694.1 690.3 Private fixed investment 190.5 4.0
183.6 191.6 2.1
-10.1 -5.0 -5.0
2.8 2.0
M
.3
.5
503.6 20.7 9.1
50.0 68.9
354.8
-34.2 2.9
-37.1 -1.8 -35.3
193.2 4.4
182.6 179.0 2.1
1.5 .8
6.2 3.5 1.4 1.3
497 20 6
48 67 355.1
-27.2
Residential construction Mobile homes 1-4 family structures Household purchases Farm
Change in work in process on nonfarm Noncorporate Corporate
Nonres. plant 8 equipment Nonprofit inst. (HH) Farm Nonfarm noncorp. bus. Financial corporations Nonfin. corporations
-33.5 Inventories -4.8 Farm -28.7 Nonfarm -1.5 Noncorporate
Corporate
Multifamily units 17 Households (1) 18 Noncorporate business 19 Nonfin. corporations 20 REITs 21
13.5 14.9 Net exports 694.5 700.4 Exports 681.0 685.5 - Imports
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
3194.8 92.5 2.9
-158.1 51.0
275.3 M
37.5 20.7 217.2
126.9 .3
33.6 92.9
98.2 .3
1.8 14.6 81.5
50.3 -.7
-14.8 22.9 42.8
52.4 1.6 4.2
46.6
3479.2 145.6 4.2
-141.7 46.4
316.7
* 43.3 22.4 251.0
136.2 .4
34.1 101.8
110.0 .3 .4
28.8 80.5
70.6 -.7
-12.1 14.5 68.8
47.8 2.1 6.0
39.7
3725.6 171.9 4.6
-134.2 46.4
307.7 .1
50.9 15.4
241.4
135.1 .4
33.7 101.0
123.5 .3
-.5 19.2
104.5
49.1 -.6
-17.7 31.6 35.9
25.5 2.5 4.3 18.8
3946.1 180.1 4.6
-166.1 35.4
304.7 .1
56.9 18.7
229.0
132.2 .3
35.9 95.9
133.9 .2
-2.8 19.1
117.5
38.7 -.4
-14.4 37.9 15.6
4.9 2.5 3.1 -.7
3799.6 3887.7 174.2 191.3 4.6 4.9
-150.0 38.5
289.8 .1
56.9 6.9
225.9
127.7 .3
-3.7 27.3 103.8
38.6 -.6
-16.2 29.6 25.8
15.6 2.6 3.3 9.7
-168.2 37.9
296.9 • 1
52.9 16.1
227.8
3925.7 195.1 5.0
-166.1 38.5
299.3 .1
48.9 18.2
232.1
3969.1 166.5 4.2
4001.9 167.5 4.2
123.5 129.9 133.1 .4 .4 .4
26.9 34.6 35.6 96.2 94.9 97.1
130.3 .3
-2.9 14.7
118.2
36.8 -.6
-15.5 38.2 14.7
11.3 2.8 3.2 5.3
-145.9 -184.3 39.4 25.6
133.0 .3
-2.9 23.6 112.0
33.2 -.6
-14.6 25.4 23.0
7.7 2.9 3.6 1.2
318.5 .1
57.6 21.7
239.1
139.1 .4
38.8 99.9
135.1 .3
-2.8 22.4 115.2
44.3 -.5
-14.2 35.2 23.8
2.0 3.0 2.6
-3.6
4021.2 4069.8 Disposable personal income 36 168.6 170.1 Personal saving 37 4.2 4.2 Saving rate (percent) 38
-126.9 -185.0 Federal government surplus 39 30.1 39.1 St. & local government surplus 40
304 .1 .1
68.0 18.8
2 1 7 . 2
126 .5 .1
34 .6 9 1 . 8
137 .2 - . 3
- 2 . 6 15 .5
124.6
40.4
- 1 3 . 2 5 2 . 6
.8
- 1 . 4 1.6 2 . 9
- 5 . 9
Corporate profits, taxes, and dividends: 281.5 283.6
.1 .2 68.2 59.6 22.5 24.8
190 .7 199 .0
115 .1
3 6 . 7 7 8 . 2
119.9 . 1
3 7 . 7 8 2 . 1
137 .5 136.4
- 2 . 4 - 2 . 2 2 4 . 3 2 4 . 9
115 .8 113 .5
Profits - total (book) Farms Foreign subsidiaries Financial corporations Dom. nonfin. corporations
Tax accruals - total Farms Financial corporations Nonfin. corporations
Dividends - total Farms Financial corporations Foreign subsidiaries Dom. nonfin. corporations
41 42 43 44 45
46 47 48 49
50 51 52 53 54
29.0 27.3 Undist. prof. - total (book) 55 .2 -.1 Farms 56
-11.8 -10.6 Financial corporations 57 44.0 34.7 Foreign subsidiaries 58 -3.4 3.3 Dom. nonfin. corporations 59
-3.5 .3 Cap. cons, adjust. - total 60 1.9 1.6 Farms 61 3.0 3.7 Financial corporations 62
-8.4 -5.0 Dom. nonfin. corporations 63
487.0 514.3 554.4 5 7 2 . 5 5 6 7 . 0 5 7 1 . 1 5 7 9 . 3 65 66 67 68 69 70 71
70.0 14.8 19.0 80.0 303.2 22.1 1.5
73.0 15.4 19.1 84.7 322.2 25.4 1.5
76.0 16.1 19.2 96.7 346.4 29.5 1.4
79.4 16.4 20.2 96.6 363.1 33.1 1.8
279 .6 2 9 5 . 3 315.4 3 2 8 . 1
77 .1 16 .4 19 .3
103 .3 356.5
30.8 1.4
324 .3
77.8 16.5 19.3 96.6
356.7 3 1 . 5
1.4 3 2 3 . 7
78 .6 16 .7 19.4 9 6 . 8
359 .7 32 .7
1.4 325.6
7 9 . 16 . 19 . 9 8 .
3 6 5 . 3 3 .
1.4 330 .8
5 8 5 . 1 8 1 . 8 15 .5
,9 ,3 ,0 ,9 .4
94 370
35
591.5 595.4 Total capital cons. w/CCAdj 64 82.3 83.6 Owner-occupied homes (HH) 65 15.8 15.6 Nonprofit institutions (HH) 66 22.3 23.3 Farm noncorporate 67 95.5 95.1 Nonfarm noncorp. business 68
375.6 377.9 Total corporate 69 35.7 36.4 Financial business 70 2.7 2.9 Corporate farms 71
337.2 338.6 Nonfin. corporations 72
3 4
305.4 792.3
323.7 838.0
340.7 895.1
355.0 930.6
-28.2 -16.9
Memo: Cap. cons, on consumer 347.1 351.3 355.6 359.8 353.2 358.8 360.1 durables not included above 73 919.6 918.3 926.7 939.1 938.3 950.3 955.5 Tot. cap. cons. incl. durables 74
-3.1 1.0 -2.9 -4.8 .5 8.3 13.2 Statistical discrepancy 75
76 77
46.1 15.2
43.0 14.5
43.9 15.0
43.4 15.1
42.6 15.0
43.8 14.8
44.5 15.1
43.7 15.2
41.6 15.2
40.9 15.1
42.3 Profit tax rate (percent) 76 15.0 Personal tax rate (percent) 77
(1) Purchases of condominium units.
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1991 Funds Raised in Credit Markets Funds Raised in Credit Markets
Summary of Net Funds Raised in Credit and Equity Markets
UNApJUSTED NET FLOWS, $ MILLIONS
I 1989 I I IV I I
Total net borrowing by domestic 1 nonfinancial sectors
UNADJUSTED NET FLOWS, $ MILLIONS
1990 I 1991 II III IV I I II
ANNUAL FLOWS- $ BILLIONS 1983 1984 1985 1986
Net Credit Market Borrowing by Nonfinancial Sectors
500,157 155,335 153,508 160,047 170-455 58,184 119,821 7 5 2 . 3 8 4 8 . 1 8 3 6 . 9 1
2 U.S. government 3 Treasury issues 4 Agency issues 8 mort939es
Private domestic 5 nonfinancial sectors
6 Debt capital instruments 7 Tax-exempt obli9ations 8 Corporate bonds 9 Mortgages 10 Home mortgages 11 Multifamily resid. 12 Commercial 13 Farm
14 Other debt instruments 15 Consumer credit 16 Bank loans n.e.c. 17 Commercial paper 18 Other loans
19 By borrowing sector: 20 State&local governments 21 Households 22 Nonfinancial business 23 Farm 24 Nonfarm noncorporate 25 Corporate
26 Fgn. net borrowing in U.S. 27 Bonds 28 Bank loans n.e.c. 29 Commercial paper 30 U.S. govt. 8 other loans
31 Total domestic plus foreign
63,300 64-445 -1,145
136.857
93-334 4-847 21,851 66,636 56,745 3,241 7,625 -975
43,523 19,567 12,252 -6,161 17,865
136,857 4,194 90,356 42,307
65 12,870 29,372
4,474 270
-1,205 5,524 -115
204,631
64,487 57.093 7,394
90,848
80,133 991
7,560 71-582 60,909 5-035 5.802 -164
10-715 -12,390 -7,622 18,922 11,805
90,848 1,888
61,654 27-306 -617
12,396 15,527
244 8,747
-2,421 -3-730 -2,352
155,579
40-848 39,508 1-340
112,660
81-961 5-014 17,191 59,756 61,228 -4-061 2,493
96
30,699 7-101 7,620 2,625 13,353
112,660 3,176
71,655 37,829 1,346 434
36,049
11,297 5-175
333 5,770
19
164,805
68-448 68-779 -331
91,599
74,985 10,632 8-210 56-143 50-473 4,093 1,250 327
16-614 9-271
-2-534 3,152 6,725
91-599 10,156 63,790 17,653 2,940
312 14,401
6,465 473 512
6-391 -911
166,512
98-741 98,994 -253
71,714
61-083 3-453 16-780 40-850 40-001 1,434 -284 -301
10-631 10-272 3,789
-14-959 11-529
71,714 1,978
56,917 12-819 -1-101
526 13,394
5,485 7,157
-1,289 3,893
-4,276
175,940
55,807 61-806 -5,999
2,377
39,886 921
20,140 18.825 20,131
556 -1,526
-336
-37,509 -26-632 -8,411 2-998
-5.464
2,377 1,139 7,085
-5-847 -1,148 -3,702
-997
12,327 2-868 1,853
11-673 -4,067
70,511
42-961 44-512 -1-551
76,860
77,753 5,320 23-820 48-613 50,878
527 -3-018
226
-893 1,861
-8-693 -1,426 7,365
76-860 2,645
57,910 16-305 3,702
-1,223 13,826
-12,130 4,081 -899
-12,982 -2,330
107,691
186.6 186.7 -.1
351.5
247.1 43.3 16.0
187.9 120.4 14.1 51.0 2.4
104.4 48.9 25.0 -.8 31.3
351.5 23.6 185.6 142.3 3.9
81.9 56.5
17.3 3.1 3.6 6.5 4.1
555.4
198.8 199.0
~-2
553.5
319.9 51.0 46.1 222.8 136.7 25.2 62.2 -1.2
233.6 81.7 68.0 21.7 62.2
553.5 28.1
231.8 293.6 -.4
123.2 170.8
8.4 3.8
-6.6 6.2 5.0
760.6
223.6 223.7 -.1
624.5
451.2 135.4 73.5
242.2 156.8 29.8 62.2 -6.6
173.3 82.5 40.6 14.6 35.6
624.5 90.9
284.5 249.1 -14.5 129.3 134.3
1.2 3.8
-2.8 6.2
-6.0
849.3
215.0 2 214.7 3
.4 4
621.9 5
465.8 6 22.7 7 126.8 8 316.3 9 218.7 10 33.5 11 73.6 12 -9.5 13
156.1 14 58.0 15 66.9 16 -9.3 17 40.5 18
621.9 19 36.2 20
293.0 21 292.7 22 -16.3 23 99.2 24
209.7 25
9.7 26 3.1 27
-1.0 28 11.5 29 -3.9 30
846.6 31
Net Credit Market Borrowing by Financial Sectors
Total net borrowing 1
2 3 4 5
6 7 8 9 10 11
12 13 14
15 16 17 18 19 20 21 22
by financial sectors
U.S. government-related Sponsored credit ag. sec. Mortgage pool securities Loans from U.S. government
Private financial sectors Corporate bonds Mortgages Bank loans n.e.c. Open-market paper Fed. Home Loan Bank loans
Total, by sector Sponsored credit agencies Mortgage pools
Private financial sectors Commercial banks Domestic affiliates (BHCs) Savings and loan assns. Mutual savings banks Finance companies REITs SCO issuers
58,515
45.741 2,898
42,843
-12,774 10,023 -101 1.897
10,268 -9,313
58,515 2,898
42.843
12-774 385
-1,500 -10-579
-258 15,153
14 9,559
33,349
37,141 1,525
35,616
--3,792 7,918
26 -2-763
-28 -8,945
33,349 1,525
35.616
-3-792 -4,176 -503
-8,097 -1-856 3,781 -959 8,018
46,509
41,937 2-904 39,033
-4,572 18,337
46 1-550
-8-804 -6,557
46,509 2,904 39,033
4,572 -1,623 -7,623
-11,430 1,378
10,765 -674
13,779
43,260
37,771 3,436
34,335
-5,489 4,334
67 163
9,334 -8,409
43,260 3,436
34-335
5,489 -888
-11-428 -9,442
-549 21,372 -449 6,873
78,939
50,502 9,284
41,338 -120
28-437 19,255
120 1,758 8-091 -787
78,939 9-164
41,338
28-437 5,594
-8-132 -2,196
510 21,133
138 11,390
12,412
33,804 3,278
30,526
--21,392
9,430 20
-1-887 -18,860 -10,095
12,412 3-278
30,526
-21,392 -8,219 -3,079
-11,216 -259
-5,667 -169 7,217
27,161
32-837 -7,421 40,258
--5,676 16-456
-31 372
-10,211 -12,262
27,161 -7-421 40,258
-5,676 -2-191 -1,424
-11,972 -666 1,295 -52
9,334
100.3
67.8 1.4
66.4
-32.5 18.6
K
-.4 21.3 -7.0
100.3 1.4
66.4
32.5 5.0 13.3 -6.2 -.4 17.5 -.3 3.6
150.7
74.9 30.4 44.4
-75.9 34.3
.4 1.4
24.0 15.7
150.7 30.4 44.4
75.9 7.3 16.1 17.2 1.2
24.3 .5
9.3
201.3
101.5 20.6 79.9 1.1
99.7 50.9
.1 2.6 32.0 14.2
201.3 21.7 79.9
99.7 -4.9 16.6 17.3 1.5
57.7 -.1 11.5
285.1 1
154.1 2 15.2 3
139.2 4 -.4 5
131.0 6 82.9 7
.1 8 4.0 9
24.2 10 19.8 11
285.1 12 14.9 13
139.2 14
131.0 15 -3.6 16 15.2 17 20.9 18 4.2 19
54.7 20 .8 21
39.0 22
Total Net Credit Market Borrowing, All Sectors- by Type
1 Total net borrowing • 2 U.S. government securities 3 Tax-exempt obligations 4 Corporate 8 foreign bonds 5 Mortgages
6 Consumer credit 7 Bank loans n.e.c. 8 Open-market paper 9 Other loans
263.146 188,928 211,314 209,772 254,879 109,041 101,627 82,788 106-220 149,363 4-847 991 5,014 10,632 3.453 32,144 24,225 40,703 13,017 43,192 66,535 71,609 59,799 56.209 40,970
19,567 -12.390 12.944 -12-806 9,631 15.164 8.437 508
7,101 9-503 -409 6,815
9,271 -1-859 18,877 -2,595
82,923 89,610
921 32,438 18,846
134-852 75,799 5,320
44-357 48•581
10,272 4.258
-2,975 6,346
•26,632 1,861 - 8 - 4 4 5 - 9 - 2 2 0 - 4 , 1 8 9 - 2 4 - 6 1 9 •19,626 - 7 . 2 2 7
10 Memo: U.S. govt, cash balance -11.810 -10.015 15,957 6,762 -4,384 -2,662 10,848 Totals net of changes in U.S. govt, cash balances:
11 Net borrowing by dom. nonfin. 211-967 165,350 137,551 153,285 174-839 60,846 108,973 12 By U.S. government 75,110 74.502 24.891 61,686 103,125 58,469 32,113
655.7 254.4
43.3 37.7
187.8
48.9 28.2 26.9 28.4
- 7 . 1
5 4 5 . 2 193.7
911 .4 273.8
5 1 . 0 84.2
2 2 3 . 1
81.7 62.7 51.9 82.9
6 . 3
7 4 6 . 0 192 .5
1050.6 324.2 135.4 128.2
82.5 40.3 52.8 45.0
14.4
833.7 209.3
1131 369
7 5
22.7 212.8 316.4
58.0 69.9 26.4 56.1
836.9 11 215.0 12
External Corporate Equity Funds Raised in U.S. Markets
1 Total net share issues 516 3,130 13-079 2 Mutual funds 15,368 17,796 18,768 3 All other -14,852 -14,666 -5,689 4 Nonfinancial corporations -19,825 -17,250 -12,000 5 Financial corporations 1.134 2,575 326
Foreign shares 6 purchased in U.S. 3,839 9 5,985
-8-850 2,246 7,898 16.890
-16,748 -14,644 -18,500 -15-250 1.211 217
32,625 28,217 4,408
-3.000 846
44,468 31,484 12.984 2.750 1.080
54. 27. 27. 20. 3.
541 389 6.562 9,154
-40.5 29.3
-69.8 -79.0 8.2
.9
17.2 84.4
-67.2 -84.5 13.6
3.7
86.8 159.0 -72.2 -85.0 11.6
1.2
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1991 Funds Raised in Credit Markets Funds Raised in Credit Markets
Summary of Net Funds Raised in Credit and Equity Markets
SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS, $ BILLIONS 1987 1988 1989 1990
I 1989 I 1990 I 1991 I IV I I II III IV I I II
Net Credit Market Borrowing by Nonfinancial Sectors
687.0 760.8 8 0 3 . 4 5 9 6 . 9 657 .7 4 9 9 . 3 4 1 1 . 4 Total net borrowing by domestic
462.6 nonfinancial sectors
2 3 4
144.9 143.4
1.5
157.5 140.0 17.4
151.6 150.0
1.6
272.5 264.4 8.2
185.0 189.6 -4.6
247.3 217.8 29.6
228.2 222.9
5.4
286.1 287.5 -1.3
328.4 329.4 -1.0
204.7 228.7 -24.0
241.8 U.S. government 248.0 Treasury issues -6.2 Agency issues & mortgages
603 .3 5 2 6 . 6 5 5 6 . 1 368 .7 371 .6 170.9 2 0 6 . 7 2 2 0 . 9 Private domestic nonfinancial sectors
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
453.2 49.3 79.4 324.5 234.9 24.4 71.6 -6.4
88.9 33.5 10.0 2.3
43.2
542.1 48.8 302.2 191.0 -10.6 77.9 123.7
4.5 7.4
-3.6 2.1
-1.4
459.2 49.8 102.9 306.5 231.0 16.7 60.8 -2.1
144.1 50.2 39.8 11.9 42.2
603.3 45.6 314.9 242.8 -7.5 65.7 184.6
6.3 6.9
-1.8 8.7
-7.5
379.8 30.4 73.7
275.7 218.0 16.4 42.7 -1.5
146.8 39.1 39.9 20.4 47.4
526.6 29.6
285.0 211.9
1.6 50.8 159.5
10.9 5.3 -.1 13.3 -7.5
298.2 20.1 49.7 228.3 212.6
6.5 9.3
K
68.7 14.3 1.3 9.7
43.4
366.8 17.2
254.0 95.6 2.6 13.7 79.4
23.5 21.6 -2.9 12.3 -7.5
691 .5 767 .1 689 .1 662 .8
347.0 19.1 87.4 240.5 214.3
9.5 19.9 -3.2
88.2 44.1 7.7
-6.9 43.3
435.2 16.5
291.8 126.9 8.9 35.0 83.1
16.9 -1.0 -4.3 22.2
.1
637.1
391.0 12.4 30.2 348.4 298.7 22.7 26.5
.5
165.1 30.4 16.3 69.6 48.8
556.1 16.0
377.2 162.9 6.2
45.5 111.2
2.0 32.7 -6.9
-16.4 -7.3
805.5
309.3 24.5 68.8
216.0 220.0 -15.5 13.4 -1.9
59.4 2.8 15.4 -6.2 47.4
368.7 17.2
257.5 94.0
-10.8 3.5
101.3
41.2 25.8 -1.8 23.1 -5.9
638.1
275.5 30.0 32.8
212.7 184.7 16.2 9.9 2.0
96.0 21.3 -2.5 17.3 60.0
371.6 28.1 227.3 116.2 11.7 19.6 84.8
29.7 1.2 1.9
27.3 -.8
687.3
216.8 13.5 67.1 136.3 147.1 2.7
-12.8 -.7
-45.9 2.5
-24.2 -41.7 17.5
170.9 7.6
154.0 9.4 3.1
-14.0 20.2
21.1 26.5 -4.7 15.3
-16.0
520.4
230.5 11.3 80.6 138.6 136.8 4.6
-3.0 .2
-23.8 -23.6 14.2 5.1
-19.5
206.7 12.2
162.6 32.0 4.7
-18.7 46.0
50.6 8.9 10.3 45.5
-14.1
462.0
292.7 27.5 95.3 169.9 176.6 2.9
-8.0 -1.6
-71.9 -20.4 -51.6 -22.6 22.6
220.9 16.8
199.7 4.3
-1.6 -3.6 9.5
-53.0 22.0 -7.1
-52.0 -15.8
409.7
Debt capital instruments Tax-exempt obligations Corporate bonds Mortgages
Home mortgages Multifamily resid. Commercial Farm
Other debt instruments Consumer credit Bank loans n.e.c. Commercial paper Other loans
By borrowing sector: StateSlocal governments Households Nonfinancial business Farm Nonfarm noncorporate Corporate
Fgn. net borrowing in U.S. Bonds Bank loans n.e.c. Commercial paper U.S. govt. 8 other loans
Total domestic plus foreign
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
Net Credit Market Borrowing by Financial Sectors
2 4 7 . 6 2 0 5 . 5 180 .0 2 6 7 . 7 Total net borrowing
95.4 by financial sectors
2 3 4 5
6 7 8 9 10 11
12 13 14
15 16 17 18 19 20 21 22
171.8 30.2 142.3 -.8
128.4 78.9
.4 -3.2 27.9 24.4
300.2 29.5 142.3
128.4 6.2 14.3 19.6 8.1 40.8
.3 39.1
119.8 44.9 74.9
-127.8 51.7
.3 1.4
54.8 19.7
247.6 44.9 74.9
127.8 -3.0 5.2 19.9 1.9
67.7 3.5 32.5
151.0 25.2 125.8
-54.5 36.8
K
1.8 26.9
-11.0
205.5 25.2 125.8
54.5 -1.4 6.2
-14.1 -1.4 46.3 -1.9 20.8
167.4 17.1
150.3 -.1
34.7 49.8
.3
.7 8.6
-24.7
202.1 17.0
150.3
34.7 -1.1
-27.7 -31.2
-.5 57.1 -1.9 40.1
156.4 -4.7 161.1
30.9 39.6 -.4 4.2 36.3
-48.8
187.3 -4.7 161.1
30.9 -.7
-3.9 -56.2
.7 52.6
.1 38.2
171.7 9.7
162.0
18.5 33.5
.1 -2.3 9.2
-22.0
190.2 9.7
162.0
18.5 -5.7 -8.0 -15.8 -8.3 28.2 -3.8 32.1
184.0 17.1
166.8
-13.5 71.2
.2 -.6
-53.4 -30.9
170.4 17.1
166.8
-13.5 -13.9 -32.1 -53.5
6.5 27.0 -2.7 55.1
139.2 22.3 116.9
40.8 18.0
.3 2.0 51.0
-30.5
180.0 22.3 116.9
40.8 -5.6 -40.4 -31.9 -4.2 97.3 -1.8 27.5
174.6 19.5
155.5 -.5
93.1 76.7
.5 3.8
27.6 -15.5
267.7 19.0
155.5
93.1 20.9
-30.2 -23.4
4.0 75.7
.6 45.6
155.8 14.5
141.3
-53.2 39.5
.1 1.0
-65.9 -27.9
102.6 14.5
141.3
-53.2 -22 .0 -18.5 -29.5 -2 .2 -9.2 -.7 28.9
150.6 -22.4 173.0
-55.2 63.2 -.1
-5.8 -59.7 -52.9
95.4 -22.4 173.0
-55.2 -16.6 -7.1
-55.6 -1.4
-11.7 - .2 37.3
U.S. government-related 2 Sponsored credit a9. sec. 3 Mortgage pool securities 4 Loans from U.S. government 5
Private financial sectors 6 Corporate bonds 7 Mortgages 8 Bank loans n.e.c. 9 Open-market paper 10 Fed. Home Loan Bank loans 11
otal» by sector 12 Sponsored credit agencies 13 Mortgage pools 14
55.2 Private financial sectors 15 Commercial banks 16 Domestic affiliates (BHCs) 17 Savings and loan assns. 18 Mutual savings banks 19 Finance companies 20 REITs 21 SCO issuers 22
Total Net Credit Market Borrowing- All Sectors- by Type
1 2 3 4 5
6 7 8 9
991.7 317.5 49.3 165.7 324.9
33.5 3.2
32.3 65.5
1014.7 277.2 49.8 161.5 306.7
50.2 39.4 75.4 54.4
894.5 302.6 30.4 115.8 275.7
39.1 41.5 60.6 28.9
864.9 440.0 20.1 121.1 228.6
14.3 -.9 30.7 11.1
824.4 341.4 19.1
125.9 240.1
44.1 7.5
51.6 -5.4
995.7 419.0 12.4 96.4 348.5
30.4 7.1
62.3 19.5
808.5 412.2 24.5 165.8 216.2
2.8 13.0
-36.6 10.6
867.3 425.4 30.0 52.0
213.0
21.3 1.4
95.7 28.6
788.1 503.4 13.5
170.3 136.7
2.5 -25.1
1.2 -14.5
564.7 505.1 Total net borrowing 360.5 392.4 U.S. government securities 11.3 27.5 Tax-exempt obligations
129.0 180.5 Corporate S foreign bonds 138.7 169.8 Mortgages
-23.6 -20.4 25.6 -64.5
-15.2 -134.3 -61.6 -46.0
Consumer credit Bank loans n.e.c. Open-market paper Other loans
11 12
694 .9 152 .8
750 .4 147.1
684 .1 157 .5
631 .0 2 6 4 . 2
-7.3 22.9 -38.1 21.1 27.4 51.6 -64.3 Memo: U.S. govt, cash balance 10 Totals net of changes in U.S. govt, cash balances:
627.6 780.5 635.0 636.6 471.9 359.8 526.9 Net borrowing by dom. nonfin. 11 192.4 224.4 266.3 265.1 301.0 153.1 306.1 By U.S. government 12
External Corporate Equity Funds Raised in U.S. Markets
10. 73.
-63. -75. 14.
-124.2 1.1
-125.3 -129.5
3.3
.9
-63.7 41.3
-105.1 -124.2
2.4
16.7
9. 61.
-51. -63.
4.
173.9 Total net share issues 122.2 Mutual funds
1
57.6 79.3 4.5
-57.0 -69.0 10.3
-22.9 -48.0
1.3
-70.2 -74.0
4.8
-56.9 -61.0
.9
20.2 -12.0
3.4
51.7 11.0 4.3
All other 3 Nonfinancial corporations 4 Financial corporations 5 Foreign shares
purchased in U.S. 6
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1991 Credit Market Supply of Funds
UNADJUSTED NET FLOWS, $ MILLIONS
Direct and Indirect Sources of Funds to Credit Markets
I 1989 I I IV I I
1990 II III
I 1991 IV I I II
Total funds advanced in credit markets 1 to dom. nonfinan. sectors 200-157 155-335 153,508 160,047 170,455
By Federal agencies and foreign
Total net advances- by type 62-536 38,952 U.S. government securities 13-566 -6,149 Residential mortgages 47-295 44,571 FHLB advances to thrifts -9-313 -8-945 Other loans and securities 10-988 9-475
By type of lender: 62-536 38,952 U.S. government -19 10-108 Spons. cr. ags. 8 mtg. pools 44-728 38-120 Monetary authority 5-695 -8-878 Foreign 12-132 -398
Agency and foreign borrowing not in line 1: Spons. cr. ags. 8 mtg. pools 45-741 37-141 Foreign 4-474 244
79-301 31,354 45-031 -6,557 9,473
79,301 10-250 40,135 13-406 15-510
41,937 11,297
81-434 31-577 45-299 -8-409 12-967
81-434 15-299 45-505 2,921 17-709
37-771 6,465
58,184 119,821
62-003 17-619 49-237 -787
-4,066
62-003 -2-052 42-965
682 20-408
50-502 5-485
52,342 23-272 39-310
-10-095 -145
52-342 8,275
31-351 5-875 6-841
33-804 12,327
67 ,072 2 2 , 0 1 1 49-697
•12,262 7 ,626
67,072 9-279
36,187 6,390 15-216
32,837 -12-130
Credit Market Supply of Funds
UNADJUSTED NET FLOWS, $ MILLIONS
ANNUAL FLOWS- $ BILLIONS 1983 1984 1985 1986
752.3 848.1 836.9 1
117.8 29.0 76.1 -7.0 19.7
117.8 9.7
69.8 14.7 23.7
67.8 17.3
157.6 38.9 56.5 15.7 46.6
157.6 17.1 74.3 8.4 57.9
74.9 8.4
202.0 45.9 94.6 14.2 47.3
202.0 17.8
103.5 18.4 62.3
101.5 1.2
280.2 69.4 136.3 19.8 54.7
280.2 9.7
153.3 19.4 97.8
154.1 9.7
2 3 4 5 6
7 8 9 10 11
12 13
Private domestic funds advanced
14 Total net advances 15 U.S. government securities 16 Tax-exempt obligations 17 Corporate and foreign bonds 18 Residential mortgages 19 Other mortgages and loans 20 Less: FHLB advances
Private financial intermediation
87,836 95-475 4,847 17-101 12-691 48-409 -9-313
153 107
15 21
-8
,768 -776 991 083 374 -401 945
127,441 51,434 5,014 18,809 12,133 33-494 -6,557
122-849 74-643 10-632 8,488 9-266 11,411 -8,409
164,439 131-744 3-453
23,045 -7,802 13,212 -787
51 66
18 -18 -25 -10
973 338 921 410 622 169 095
73 53 5
21 1
-20 -12
,456 788 ,320 ,321 707 942 262
505.4 225.4 43.3 14.5 58.3 156.9 -7.0
677.9 234.9 51.0 35.1 105.3 267.2 15.7
748.8 278.2 135.4 40.6 91.8
216.9 14.2
720.5 14 300.1 15 22.7 16 89.7 17 115.9 18 212.0 19 19.8 20
Credit market funds advanced 21 by private financial insts. 22 Commercial banking 23 Savings institutions 24 Insurance and pension funds 25 Other finance
26 Sources of funds 27 Private domestic dep. 8 RPs 28 Credit market borrowing
29 Other sources 30 Foreign funds 31 Treasury balances 32 Insurance and pension res. 33 Other, net
154-956 99,011 56-963 22-792
-49-584 -19-387 50-025 45-673 97,552 49,933
154,956 99,011 81-782 24,190 12,774 -3,792
60-400 78,613 6,598 68
-4-696 -8,863 42-003 41,125 16,495 46,283
72 41 51 54 27
72 11 4
78 1
15 56 5
268 833 847 994 288
,268 ,144 ,572
,840 ,401 ,353 ,982 ,104
85 29
-38 45 49
85 7 5
72 23 4 31 14
776 695 331 270 142
776 359 489
928 070 523 241 094
137-534 24,379
-43-847 36-510 120-492
137,534 40,064 28,437
69-033 -534
-5-676 30,548 44,695
42 10
-44 44 32
42 48
-21
14
-4 22 _2
462 137 139 008 456
462 ,926 ,392
,928 -433 ,597 ,200 ,242
26 13
-36 27 21
26 -38 -5
70 -30
9 34 57
317 923 207 508 093
317 601 676
594 814 717 071 ,620
392.3 143.3 134.2 100.1 14.7
392.3 220.5 32.5
139.3 14.6 -5.3 115.0 15.1
590.5 174.0 154.7 121.8 140.1
590.5 321.0 75.9
193.7 8.8 4.0
124.0 56.9
578.0 188.4 87.9 150.1 151.6
578.0 212.1 99.7
266.1 19.7 10.3
131.7 104.4
730.0 21 198.1 22 107.6 23 160.1 24 264.2 25
730.0 26 277.1 27 131.0 28
321.8 29 12.9 30 1.7 31
119.9 32 187.3 33
Private domestic nonfinancial investors
34 Direct lending in cr. markets 45-654 50-965 59,745 42,562 55,342 -11,881 41,463 35 U.S. government securities 35-174 42-436 25-213 42-747 37,731 9,292 25,306 36 Tax-exempt obligations 6,235 -7,315 5,332 3,746 -2,723 -7-251 5,439 37 Corporate and foreign bonds -535 10,244 4,978 -14-490 16-766 2,685 14,815 38 Open-market paper -10,530 5-186 15-646 1-460 -4,079-11,696 -7,751 39 Other 15-310 414 8,576 9,099 7,647 -4,911 3,654
40 Deposits and currency 94-589 21,185 2,689 11,152 55,071 46,181 -25,545 41 Currency 7,348 2,642 8,261 4,468 7,215 7-590 3,965 42 Checkable deposits 42-562 -24,341 5,738 -10,396 29,554 -17,065 8.679
43 Small time 8 svgs. deposits 32,212 31,811 1,041 9,160 17,423 29,790 -255 44 Money market fund shares 12-254 33,430 -10,363 28-118 10-583 48-315 -20,142 45 Large time deposits -2-228 -7,210 -11,857 -13,483 -14,269 -669 -25,371 46 Security RPs -3,018 -9,500 4,297 -6,040 -3,227-11-445 -1,512 47 Foreign deposits 5-459 -5-647 5,572 -675 7,792 -10,335 9,091
145.6 90.2 29.4 -8.6 17.7 17.0
237.9 14.3 29.2
215.4 -39.0 -8.3 23.1 3.1
163.2 110.8 25.4 -5.0 7.8
24.2
324.5 8.6 28.6
150.7 49.0 82.9 9.8
-5.1
270.5 157.8 37.7 3.8
51.6 19.6
222.8 12.4 41.4
138.5 7.2 7.4 17.7 -1.7
121.5 34 27.0 35
-19.9 36 52.9 37 9.9 38
51.7 39
297.5 40 14.4 41 96.4 42
120.6 43 43.2 44 -3.2 45 20.2 46 5.9 47
Total of credit mkt. instru-48 ments- deposits, and currency 140,243
49 Public holdings as % of total 30-560 50 Pvt. finan. intermediation (*) 82-495 51 Total foreign funds 18,730
72,150 62,434 53,714 110,413 34,300 15,918
48-905 35,240 74,232 62,281 69,822 83,638 81-700 35-826 40-779 19,874 6-408 -15-598
25-036 64,389 -330
48,118 56-707 16,911
383.5 487.7 493.3 419.0 48
21.2 77.6 38.2
20.7 87.1 66.7
23.8 77.2 82.0
33.1 49 101.3 50 110.7 51
Corporate Equities Not Included Above
1 Total net issues 2 Mutual fund shares 3 Other equities
516 3,130 15,368 17,796
-14,852 -14,666
13,079 18,768 -5,689
4 Acq. by financial institutions 16-699 10,077 18-399 5 Other net purchases -16,183 -6-947 -5,320
-8,850 2,246 32,625 44,468 7-898 16,890 28-217 31,484
•16,748 -14,644 4,408 12,984
-9,457 12,886 10-594 18,543 607 -10,640 22,031 25,925
54.6 -40.5 27.2 29.3 27.3 -69.8
17.2 86.8 84.4 159.0 -67.2 -72.2
50.4 4.2
15.8 -56.3
46.9 -29.7
50.9 35.9
4 5
Line notes: (1 (12): Credit net issues of line 2 plus 1 Also sum of li commercial mor equity issues deposits at c and liabiliti of claims on (31) (32) (33) (34)
Demai Excl Main
Line 14 acquired by Line 39 includ 34 and 40. Al (lines 1 + 13) Corporate Equ
): Pa mark f eder ines nes tgage and i ommer es of f orei nd udes ly less
priva es mo so li
ities
e 2 line 1 et funds ra ally relate 12 and 13
29 and 48 1 (27):
nvestment c cial banks-
foreign gn affiliat deposits investment
retained line 21 pi
te finance rt9ages. ( ne 14 less (50): Line
(1-3):
(6): In ised by fe d mortgage
Also 1 ess lines Line 40 1 ompany sha
plus ba banking
and de nd note
of thes earnings us line 28 plus amo
41): Mainl line 29 pi 21 / line
Include
eludes derail pool
ine 41 an ess li res. I nk bor ffices posits
bala res
and (35
unts y an o us lin 14. iss
farm and commerc y sponsored credi securities. (14 1 less line 28 d 47. (19): Inc nes 41 and 47. ( ncludes line 20. rowings from for
to foreign af by banking in
nces at comme erves in corpor et miscellaneous 39): Lines 15-1
borrowed by pn ffset to line 10. es 41 and 47. (
(51): Line 11 ues by financial
ial mo t agen ): Lin plus 1 ludes 8): (30):
eign b filiat foreig rcial ate liab
9 less vate
(48 49): plus insti
rtgages. cies and
1 less ine 34. farm and Excludes Foreign ranches,
net n banks,
banks, quities. ilities. amounts
finance. ): Lines Line 2/ line 30. tutions.
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12. 1991 Credit Market Supply of Funds
SEASONALLY ADJUSTED ANNUAL RATES
Direct and Indirect Sources of Funds to Credit Markets
Credit Market Supply of Funds
SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS- $ BILLIONS 1987 1988 1989 1990
1989 IV
1990 II III
1991 I II
1 6 8 7 . 0 7 6 0 . 8 6 7 8 . 2 6 3 9 . 3
2 3 4 5 6
7 8 9 10 11
12 13
248.8 70.1 139.1 24.4 15.1
248.8 -7.9 169.3 24.7 62.7
171.8 4.5
210.7 85.2 86.3 19.7 19.4
210.7 -9.4 112.0 10.5 97.6
119.8 6.3
187.6 30.7 137.9 -11.0 30.0
187.6 -2.4 125.3 -7.3 72.1
151.0 10.9
261.7 74.4 184.1 -24.7 27.8
261.7 33.6 166.7 8.1 53.2
167.4 23.5
14 15 16 17 18 19 20
614.5 247.4 49.3 66.9 120.2 155.2 24.4
676.2 192.1 49.8 91.3 161.3 201.4 19.7
652.5 271.9 30.4 66.1 96.5 176.6 -11.0
568.5 365.6 20.1 65.4 35.0 57.7
-24.7
21 22 23 24 25
26 27 28
29 30 31 32 33
528.4 135.4 136.8 179.7 76.6
528.4 162.8 128.4
237.1 43.7 -5.8 135.4 63.0
562.3 156.3 120.4 198.7 86.9
562.3 229.2 127.8
?T>.3 : .3 • 3
l/> .6 11.0
511.1 177.3 -90.9 177.9 246.8
511.1 225.1 54.5
231.5 -9.9 -3.4 140.5 104.3
394.6 118.7
-153.4 182.4 246.9
394.6 60.5 34.7
299.4 24.0 5.3
159.9 110.2
34 35 36 37 38 39
40 41 42
43 44 45 46 47
214.6 86.0 61.8 23 > ir .-27.b
179.3 19.0 -.9
76.0 28.9 37.2 21.6 -2.5
241.7 129.0 53.5 -9.4 36.4 32.2
232.8 14.7 12.9
122.4 20.2 40.8 32.9
-11.2
195.9 134.3 28.4
.7 5.4
27.1
241.2 11.7 1.8
98.2 85.2 25.0 14.9 4.4
208.6 148.1 -1.0 17.5 18.2 25.7
90.1 22.6
.6
59.4 61.8
-46.8 -14.5
7.0
74 .5 4 3 7 . 1
49 50 51
z : .o 86.0 106.4
27.5 83.2 106.9
27.2 78.3 62.2
39.5 69.4 77.2
5 9 6 . 9 6 5 7 . 7
203.8 27.1 178.3 -48.8 47.1
203.8 5.7
158.4 -4.6 44.2
156.4 16.9
221.8 4.4
197.5 -22.0 41.8
221.8 37.7 187.4 -6.3 3.0
171.7 2.0
299.4 111.9 191.5 -30.9 26.8
299.4 36.2 163.1 40.4 59.8
184.0 41.2
325.6 139.1 160.8 -30.5 56.1
325.6 63.3 165.6 24.4 72.3
139.2 29.7
200.0 42.1 186.7 -15.5 -13.3
200.0 -2.7 150.8 -25.9 77.9
174.6 21.1
274.7 122.6 176.0 -27.9
4.0
274.7 30.3 158.7 53.3 32.4
Agency 155.8 50.6
Total funds advanced in credit markets 411.4 462.6 to dom. nonfinan. sectors
By Federal agencies and foreign
251.0 Total net advances- by type 74.4 U.S. government securities
211.4 Residential mortgages -52.9 FHLB advances to thrifts 18.1 Other loans and securities
251.0 By type of lender: 7 32.1 U.S. government 8 149.0 Spons. cr. ags. 8 mt9. pools 9 12.2 Monetary authority 10 57.7 Foreign 11
Agency and foreign borrowing not in line 1: 150.6 Spons. cr. ags. 8 mtg. pools 12 -53.0 Foreign 13
589.7 314.3 19.1 70.6 45.5 91.5
-48.8
561.9 184.3 •201.9 205.1 374.5
561.9 207.8 30.9
323.3 -20.6
5.0 193.9 145.0
755.3 414.6 12.4 53.4 123.8 129.2 -22.0
444.8 184.1 -56.6 160.0 157.3
444.8 120.2 18.5
306.1 39.9 13.1
137.9 115.2
522.7 300.5 24.5 82.6 13.0 71.4
-30.9
266.4 132.1
-210.4 231.6 113.1
266.4 28.4
-13.5
251.6 7.8
-13.4 211.9 45.3
501.0 286.2 30.0 31.8 40.0 82.4
-30.5
366.7 101.7
-168 . 6 187.5 246.1
366.7 60.1 40.8
265.9 103.5 18.2
144.2 K
495.0 461.4 13.5 93.8
-37.0 -52.2 -15.5
500.4 56.9
-178.0 150.6 470.9
500.4 33.2 93.1
374.1 -55.1
3.4 145.6 280.2
343.2 237.8 11.3 66.0
-34.5 34.6
-27.9
185.8 134.2
-154.8 125.4 80.9
185.8 216.7 -53.2
22.3 43.8 30.1 60.1
-111.7
Private domestic funds advanced
309.2 317.9 27.5 94.1
-32.0 -151.2 -52.9
Pri
91.6 15.7
-147.6 134.9 88.6
91.6 -74.0 -55.2
220.8 -124.7 -39.2 118.8 265.8
Total net advances U.S. government securities Tax-exempt obligations Corporate and foreign bonds Residential mortgages Other mortgages and loans Less: FHLB advances
vate financial intermediation
Credit market funds advanced by private financial insts. Commercial banking Savings institutions Insurance anc pension funds Other finance
Sources of funds Private domestic dep. 8 RPs Credit market borrowing
Other sources Foreign funds Treasury balances Insurance and pension res. Other* net
Private domestic nonfinancial investors
14 15 16 17 18 19 20
21 22 23 24 25
26 27 28
29 30 31 32 33
58.7 65.8 12.8 14.6
-64.6 30.1
230.3 10.1 66.4
107.0 65.6
-12.0 -19.2 12.4
329.0 198.0 -1.5 38.9 60.6 33.0
137.3 26.1 1.4
107.7 72.2
-26.4 -34.7 -8.9
242.8 154.0 10.0 19.7 33.8 25.2
64.3 23.0
-18.9
21.5 4.7
-1.8 22.8 12.8
175.0 165.2 15.6
-74.7 16.8 52.1
95.9 32.2 13.4
59.6 110.9 -97.9 -25.8
3.6
87.7 75.3
-27.9 86.1
-38.4 -7.4
62.9 9.1 6.4
48.9 59.3
-61.2 -20.1 20.6
104.2 85.2 1.8 9.1
-7.7 15.9
236.2 46.1 31.9
101.0 128.5 -2.3
-42.4 -26.6
162.4 156.4 13.2 57.4
-67.8 3.3
-41.8 5.7
-7.3
16.7 -29.8 -52.5 -1.1 26.5
289.0 466.3 307.0 270.9 150.6 340.4
162.4 Direct lending in cr. markets 34 U.S. government securities 35 Tax-exempt obligations 36 Corporate and foreign bonds 37 Open-market paper 38 Other 39
eposits and currency 40 Currency 41 Checkable deposits 42
Small time 8 svgs. deposits 43 Money market fund shares 44 Large time deposits 45 Security RPs 46 Foreign deposits 47
Total of credit mkt. instru-120.6 ments» deposits- and currency 48
32.0 95.3 23.6
27.5 58.9 42.9
46.9 51.0 67.5
47.4 73.2 175.8
38.4 101.1 22.8
59.4 61.3 Public holdings as X of total 49 54.1 29.6 Pvt. finan. intermediation {%) 50 76.2 -66.9 Total foreign funds 51
Corporate Equities Not Included Above
10.9 -124 2 -63.7 9.6 73.9 1.1 41.3 61.4
-63.0 -125.3 -105.1 -51.7
32.0 17.2 -80.9
31.9 -22.3
14.9 -9.2 72.4 47.8
-57.6 -57.0
76.9 41.1 -62.1 -50.3
48.0 71.0
-22.9
72.8 -24.8
-24.1 46.1
-70.2
-48.2 24.1
23.6 80.6
-56.9
61.9 -38.3
108.0 87.8 20.2
44.0 64.1
173.9 Total net issues 122.2 Mutual fund shares 51.7 Other equities
Line notes (12): Cr net issues line 2 pi Also sum o commercial equity iss deposits a and liabi of claims (31): (32): (33): (34): Lin acquired Line 39 in 34 and 40. (lines 1 + Corporate
(1): Page edit market of federall
us lines 12 f lines 29 mortgages, ues and inve t commercia lities of f on foreign
Demand dep Excludes Mainly ret e 14 less li by private eludes mortg Also line 13). (50 Equities:
2 line funds y rela and and 48
(27) stment 1 bank oreign affili osits vestme ained ne 21 finane ages. 14 les ): Li (1-3)
1. (6): Includ raised by federa ted mortgage poo 13. Also line less lines 41 Line 40 less
company shares Plus bank b
banking offic ates and deposi and note ba
nt of these r earnings and
plus line 28. ( plus amounts
(41 ): Mainly an s line 29 plus 1 ne 21 / line 14
Includes
es farm and lly sponsor 1 securitie 21 less li and 47. (1 lines 41 an Includes 1
orrowings f to for
ts by bank lances at eserves in net misce
35-39): Ll borrowed
offset to ines 41 and
(51): ssues by f
commercia ed credit
(14): ne 28 pi 9): Inclu d 47. (28 ine 20. ( rom forei eign affi ing in fo
commerc corporat
llaneous nes 15-19 by priva
line 10. 47. (49
Line 11 p inancial i
1 mortgages, agencies and Line 1 less us line 34. des farm and
Excludes 30): Foreign gn branches, liates- net reign banks, ial banks,
equities, liabilities, less amounts te finance. (48): Lines
): Line 2/ lus line 30. nstitutions.
73.4 Acq. by financial institutions 4 100.6 Other net purchases 5
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Households
UNADJUSTED NET FLOWS, $ MILLIONS
Sector Statements of Savin9 and Investment
Households
UNADJUSTED NET FLOWS- $ MILLIONS
I 1989 I I IV I
1990 II III
1991 I II IV I
Households, Personal Trusts, and Nonprofit Organizations
ANNUAL FLOWS, $ BILLIONS 1983 1984 1985 1986
1 Personal income 1157,4281104,0101140-1461180-1241221,2201146,0591180,413 2 - Personal taxes and nontaxes 157,477 156.734 198-566 172,468 171,632 165,593 208,265
3 = Disposable personal income 999-951 947,276 941-5801007,6561049-588 980,466 972-148 4 - Personal outlays 5 = Personal savins- NIPA basis 6 • Credits from govt, insurance 7 • Capital gains dividends 8 • Net durables in consumption
9 = Net saving 10 • Capital consumption 11 = Gross saving
12 Gross investment 13 Capital expend, net of sales 14 Residential construction 15 Consumer durable goods 16 Nonprofit plant and equip.
943-914 897-629 927,312 943-041 998-018 936-091 969-133 56,037 49,647 14,268 64,615 51-570 44,375 3,015 24,788 10-545 21,564 33-936 21,931 10-627 24-243 4,000 2,500 700 1,700 3,200 2.700 1-500
41,172 24,609 33,553 27,886 39,293 13,131 26,338
125,997 87,301 70,085 128,137 115,994 70,833 55,096 110,128 111,420 112.712 114,004 112,599 114,229 114-814 236,125 198,721 182,797 242,141 228,593 185,062 169,910
244,510 209.078 222,963 210,924 239,411 221,640 175-887 195,036 175-905 179,437 180-205 186,538 157,880 163-345 62,181 58.518 52-011 57,351 53,780 49,864 41,972
127,941 112,442 122,450 117-847 127-586 102,830 116-373 4 ,914 4 , 9 4 5 4 .976 5 ,007 5 ,172 5 ,186 5-000
17 Net financial investment 49,474 18 Net acq. of financial assets 140,212
Dep. £ cr. mkt. instr. (1) 111.
20 Deposits 21 Checkable dep. & curr. 22 Small time 8 svgs.dep. 23 Large time deposits 24 Money mkt. fund shares
25 Credit mkt. instruments 26 U.S. govt, securities 27 Tax-exempt obligations 28 Corporate S fgn. bonds 29 Mortgages 30 Open-market paper
31 Mutual fund shares 32 Other corporate equities
33 Life Insurance reserves 34 Pension fund reserves
35 Net inv. in noncorp. bus. 36 Security credit 37 Miscellaneous assets
38 Net increase in liabilities 39 Credit market instruments 40 Home mortgages 41 Installment cons, credit 42 Other consumer credit
33,173 43,526 96.446 115.708
30-719 52,873 63,760 12,542 93,803 113,477 70.824 77,741
86,766 54,911 57.146 78-701 47,351 15,922
43 44 45 46
Tax-exempt debt Other mortgages Bank loans n.e.c Other loans
47 Security credit 48 Trade debt 49 Miscellaneous
50 Discrepancy
(1) Excludes corporate equities.
67,709 36.196 28.933 -9-075 11,655
43-553 39,856 5,684 -535 9,078
-10,530
13,939 -28,671
6,716 53,325
-27,312 8-515 2.438
90.738 90,356 60,225 19,191
376
1,052 2,498 4.204 2,810
-1,264 1,532
114
-8.385
41,750 -12,135 29-913 -7-958 31,930
45,016 30,099 -6.656 10,244 4-143 7,186
15,859 -19,857
9,168 35,428
-31,367 -2,132 2,581
63,273 61,654 69,049
-11,246 -1,144
-100 3,879
-4,444 5,660
-47 1,497
169
-10,357
-2,534 13,747 -1,533 -4,885 -9,863
57,445 27,374 4,941 4,978 7,206
12,946
16,476 -18,582
9,469 58,948
-8,820 -119
3,425
72,182 71,655 54,740 8,301
-1.200
1.653 2,545 1,439 4,177
-1,413 1.783
157
-40.166
24,956 -3,312 7-998
-6,848 27,118
32-190 37-551 1,955
-14-490 7-714 -540
5,097 -2,507
8,090 31,859
-13,488 4,281 3.325
63,084 63,790 48-123 10,990 -1,719
1,128 3-007 2,933 -672
-2,732 1,859
167
31,217
28-294 20-576 15,750
-18,115 10,083
50,407 38,028 -3,498 16,766 2,190
-3,079
12,837 -18,560
6,590 38,812
-15,268 7,205 3,160
60.604 56-917 43.247 9,354
918
1-426 1,511
-2,117 2,578
2,787 700 200
-10,818
69,706 -2,466 28,811 -3,954 47,315
-22,355 -7,458 -9,291 2,685 1,905
-10,196
23,805 -4,554
9,450 11,116
-16,498 -3,008 3,162
7,064 7,085
30,153 -22,838 -3,794
127 1,544
-1,762 3,655
-1,229 1,009
199
-36,578
-22,909 14-665 -1,919
-15-013 -20,642
38-831 25-109 4,064
14,815 3-594
-8-751
29-184 -11,218
4,517 46,658
-16,009 5-533 3,154
65,199 57,910 43-418 2-561 -700
2,489 1,500 3,795 4-847
5,589 1-500 200
-5,977
2838.6 410.5
2428.1 2297.5 130.6 53.5 4.4
62.7
251.2 295.3 546.5
616.9 436.5 133.2 289.1 14.2
180.3 379.4
284.9
181.6 24.5
210.1 -22.0 -31.1
103.3 70.0 28.1 -8.6
.7 13.1
24.0 -27.0
8.0 151.2
-79.6 2.7
15.3
199.1 185.6 116.4 44.1 4.8
11.4 2.5 3.2 3.3
9.4 3.4 .6
3108.8 440.2
2668.6 2504.5 164.1 63.9 6.0
98.8
332.8 309.4 642.2
690.5 506.2 155.4 335.6 15.2
184.3 418.0
401.7
276.7 16.4
153.2 63.0 44.0
125.0 99.6 24.4 -5.0 1.5 4.4
24.0 -81.8
5.2 152.5
-86.5 1.0 2.0
233.7 231.8 134.7 75.0 6.6
10.2 2.5 -.1 2.9
-2.4 5.3
-1.0
3325.4 486.7
2838.7 2713.3 125.4 72.3 4.9
117.6
320.2 332.3 652.5
675.6 548.9 161.4 372.2 15.2
126.7 433.4
329.6
151.0 20.8
143.9 — 22 .4
8.7
178.6 82.5 38.1 3.8 3.1
51.1
69.2 -106.9
10.7 176.0
-89.2 13.5 30.4
306.6 284.5 153.3 77.0 5.5
30.2 2.4 6.9 9.3
19.4 2.5 .1
3526.2 1 512.9 2
3013.3 3 2888.5 4 124.9 5 78.7 6 17.5 7
125.4 8
346.4 9 361.7 10 708.1 11
766.6 12 603.8 13 181.7 14 406.0 15 16.1 16
162.8 17 465.7 18
302.6 19
234.4 20 91.2 21
120.4 22 -16.8 23 39.6 24
68.2 25 -13.0 26 -22.7 27 52.9 28 36.8 29 14.3 30
139.6 31 -124.5 32
17.5 33 152.2 34
-47.0 35 9.0 36
16.4 37
302.8 38 293.0 39 214.9 40 55.3 41 2.7 42
-2.2 43 6.1 44 9.6 45 6.6 46
8.2 47 3.0 48
-1.3 49
51 52 53 54 55 56
Memoranda:
Net physical investment: (A) Residential construction
Expenditures Mobile homes Other
- Capital consumption - Home mortgages •* Excess net investment
62 1
60 19 60,
-17,
.181 -239 • 942 .268 • 225 • 312
58 1
57 19 69
-29,
.518
.219
.299
.454
.049
.985
52 1
50 19 54
-22,
,011 ,220 ,791 ,640 .740 .369
57 1
56 19 48,
-10,
,351 ,216 ,135 .826 .123 .598
53 1
52 20 43 -9,
,780 ,183 ,597 • 439 ,247 .906
49.864 1,009
48-855 20,572 30,153
-861
41 1
40 20 43
—22 •
-972 ,090 -882 ,889 ,418 ,335
(B) Consumer durables 57 Expenditures 58 - Capital consumption 59 • Net investment
127,941 112-442 122,450 117,847 127,586 102,830 116-373 86-769 87,833 88,897 89-961 88,293 89-699 90-035 41,172 24,609 33,553 27,886 39,293 13.131 26,338
60 - Consumer credit
61 « Excess net investment
(C) Nonprofit plant and equip. 62 Expenditures 63 - Capital consumption 64 * Net investment
Percentages!
65 Effective tax rate
66 Saving rate. NIPA basis
Percent of adj. disposable income (2):
19,567 21,605
4.914 4,091 823
13.605 5.603
-12.390 36,999
4,945 4.133 812
14.196 5,241
7.101 26,452
4.976 4.175 801
17,415 1,515
9,271 18,615
5,007 4,217
790
14.614 6.412
10,272 29,021
5,172 3,867 1,305
14.054 4,913
-26,632 39,763
5,186 3,958 1,228
14,448 4,525
1-861 24,477
5,000 3-890 1.110
17.643 310
22,952 20,693 18,965 23,209 21,270 18,621 17,026 67 Gross saving
68 Capital expenditures 69 Acquisition of finan. assets 70 Net increase in liabilities 71 Credit market borrowing
72 (2) Adj. disposable income = 1028,739 960-321 963,8441043,2921074,719 993,793 997,891 (NIPA disposable income • govt, insurance credits + capital gains divid.)
18,958 13,629 8,820 8,783
18,317 10-043 6,588 6,420
18,616 12,004 7,488 7,434
17,272 8,991 6,046 6,114
17,356 10,558 5.639 5,295
15,886 7,126
710 712
16,369 7,790 6,533 5,803
133.2 6.1
127.1 57.0 116.4 -40.2
289.1 226.4 62.7
48.9 13.8
14.2 11.9 2.3
14.5 5.4
155.4 6.2
149.2 60.0 134.7 -39.2
335.6 236.7 98.8
81.7 17.2
15.2 12.7 2.5
14.2 6.1
161.4 6.1
155.4 64.4 153.3 -56.2
372.2 254.6 117.6
82.5 35.1
15.2 13.3 1.9
14.6 4.4
181.7 51 5.3 52
176.4 53 67.1 54
214.9 55 -100.2 56
406.0 57 280.6 58 125.4 59
58.0 60 67.4 61
16.1 62 14.1 63 2.0 64
14.5 65 4.1 66
17.6 15.3 8.0 7.5
18.5 15.3 8.5 8.5
18.8 14.9 10.5 9.8
19.4 68 15.0 69 9.7 70 9.4 71
2486.0 2738.5 2915.8 3109.5 72
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Households Households
SEASONALLY ADJUSTED ANNUAL RATES
Sector Statements of Saving and Investment
SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS, $ BILLIONS 1987 1988 1989 1990
I 1989 I I IV I I
1990 I 1991 II III IV I I II
Households- Personal Trusts, and Nonprofit Organizations
1 2
3 4 5 6 7 8
9 10 11
12 13 14 15 16
17 18
3766 .4 5 7 1 . 7
3194 .8 3102 .2
9 2 . 5 7 3 . 9 2 2 . 4
118 .0
306 .8 390 .1 6 9 6 . 9
735 .6 645 .7 2 0 4 . 0 4 2 3 . 4
1 8 . 3
8 9 . 9 3 8 1 . 3
4 0 7 0 . 8 5 9 1 . 6
3479 .2 3333 .6
145 .6 8 4 . 9
6 .3 133 .8
370 .6 4 1 2 . 1 782 .7
8 5 4 . 1 700 .8 2 2 4 . 3 4 5 7 . 5
19 .0
153 .3 4 7 5 . 8
4 3 8 4 . 3 658 .7
3725 .6 3553 .7
171 .9 9 3 . 3 15 .0
133 .9
4 1 4 . 0 4 3 2 . 8 8 4 6 . 8
8 7 5 . 8 731 .9 2 3 7 . 8 4 7 4 . 6
19 .5
143 .9 4 3 5 . 1
4 6 4 5 . 5 699 .4
3946 .1 3766 .0
180.1 8 8 . 0
8 . 1 125 .3
4 0 1 . 5 4 5 0 . 7 8 5 2 . 3
8 8 2 . 4 722 .1 2 2 1 . 7 4 8 0 . 3
2 0 . 1
160 .3 4 1 9 . 4
4469.2 669.6
3799.6 3625.4 174.2 93.8 8.6
124.1
4 0 0 . 7 4 4 0 . 5 8 4 1 . 2
8 8 8 . 2 7 3 2 . 3 2 4 1 . 4 4 7 1 . 2
19 .7
155 .9 4 4 8 . 9
4 5 6 2 . 8 675 .1
3 8 8 7 . 7 3 6 9 6 . 4
191 .3 8 3 . 0
1.9 140 .8
416. 445 . 8 6 2 .
8 3 9 . 2 746 .4 2 3 4 . 5 4 9 2 . 1
19 .8
9 2 . 8 4 9 5 . 0
4 6 2 2 . 2 6 9 6 . 5
3 9 2 5 . 7 3 7 3 0 . 6
195.1 8 3 . 8 13 .6
122.8
4 1 5 . 3 4 5 0 . 8 8 6 6 . 1
970 .9 725 .5 2 2 7 . 2 4 7 8 . 4
19 .9
2 4 5 . 4 4 9 1 . 4
4 6 7 8 . 5 7 0 9 . 4
3969 .1 3802 .6
166 .5 103 .2
10 .6 122 .5
4 0 2 . 8 4 5 6 . 0 8 5 8 . 8
8 6 9 . 3 7 1 8 . 3 2 1 6 . 0 4 8 2 . 3
2 0 . 0
151 .0 3 6 9 . 0
4 7 1 8 . 5 716 .6
4 0 0 1 . 9 3 8 3 4 . 4
167 .5 8 1 . 9
6 .4 115 .3
371 .1 4 5 0 . 4 8 2 1 . 5
8 5 0 . 1 6 9 8 . 1 2 0 8 . 9 4 6 8 . 5
2 0 . 7
152.1 3 2 2 . 3
4 7 3 5 . 8 714 .6
4786.3 Personal income 716.5 - Personal taxes ind nontaxes
4021. 3852. 168. 84. 1.
96.
3 5 0 . 9 4 5 6 . 9 8 0 7 . 8
909 .0 673 .7 197 .6 4 5 5 . 3
2 0 . 7
235.4 417.1
4069.8 = Disposable personal income 3 3899.7 - Personal outlays 4 170.1 = Personal saving- NIPA basis 5 93.5 • Credits from govt, insurance 6 17.9 • Capital gains dividends 7 93.9 • Net durables in consumption 8
375.4 = Net saving 9 459.3 • Capital consumption 10 834.6 = Gross saving 11
787.6 Gross investment 12 660.8 Capital expend, net of sales 13 186.8 Residential construction 14 454.0 Consumer durable goods 15 20.0 Nonprofit plant and equip. 16
126.7 340.7
Net financial investment 17 Net acq. of financial assets 18
3 2 6 . 5 4 4 5 . 3 4 0 9 . 9 315 .8 4 4 1 . 2 2 6 4 . 4 2 3 6 . 0 168 .5 308 .6
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
144 .6 3 . 1
6 6 . 8 4 6 . 6 2 8 . 1
182 .0 7 2 . 3 5 8 . 8 2 3 . 3 17 .5 10 .1
7 5 . 5 - 1 0 9 . 5
2 6 . 0 137 .8
- 9 1 . 1 - 5 . 8 2 1 . 8
2 9 1 . 3 302 .2 2 3 3 . 0
3 8 . 0 - 4 . 5
- 1 . 0 3 2 . 3 - 2 . 6
6 .9
- 1 5 . 3 3 . 2 1.2
194 .5 5 . 4
115 .3 5 0 . 3 2 3 . 5
2 5 0 . 8 135 .6
5 0 . 3 - 9 . 4 2 8 . 3 4 6 . 0
- 2 . 7 - 1 1 5 . 4
2 5 . 3 181.0
- 7 6 . 5 1.8
17 .0
322 .5 314 .9 2 3 0 . 8
5 5 . 0 - 4 . 7
.9 2 7 . 0 - 1 . 8
7 .8
3 . 1 4 . 1
.4
2 1 3 . 9 2 0 . 9 9 0 . 5 2 1 . 3 8 1 . 2
196 .0 145 .6
2 7 . 4 .7
2 0 . 9 1.4
3 8 . 0 - 1 2 6 . 0
2 6 . 2 148 .5
- 8 5 . 5 12 .3 11 .6
2 9 1 . 2 2 8 5 . 0 2 2 1 . 6
3 8 . 8 2
1.7 13 .4
1.6 7 .6
.8 5 . 0
.4
9 2 . 5 18 .9 5 2 . 1
- 3 7 . 8 5 9 . 3
185.1 133.1 - 3 . 3 17 .5 2 1 . 3 16 .5
5 0 . 3 - 5 9 . 5
3 3 . 3 165 .0
- 6 8 . 9 9 . 2
12 .5
2 5 9 . 1 2 5 4 . 0 2 1 5 . 2
17 .4 - 3 . 1
4 . 1 10 .9 - 2 . 2 11 .7
- 1 . 4 5 . 8
.7
2 3 3 . 4 9 0 . 0 9 7 . 4
- 1 7 . 2 6 3 . 2
8 2 . 3 8 9 . 7 10 .6 14 .6 2 6 . 2
- 5 8 . 8
6 6 . 7 •133.5
2 6 . 9 2 4 1 . 1
- 9 9 . 8 2 2 . 1
9 .8
2 9 3 . 0 2 9 1 . 8 2 2 1 . 6
4 6 . 0 - 1 . 9
4 . 2 10 .0
.6 11 .2
- 5 . 4 6 .1
.5
165 .6 11 .5
100.1 - 1 2 . 2
6 6 . 2
2 7 5 . 6 153 .8
1.1 3 8 . 9 30 .1 5 1 . 6
4 0 . 0 - 7 9 . 6
36 .7 153 .4
- 1 0 2 . 9 - 4 . 1 10 .3
4 0 2 . 3 377 .2 300 .7
3 1 . 9 - 1 . 5
- . 4 15 .5 8 . 4
2 2 . 6
18 .4 6 .0
.7
2 9 . 4 15 .1 11 .9 - 4 . 2
6 .7
2 3 5 . 0 164.9
8 . 5 19 .7 19 .3 2 2 . 7
6 1 . 8 - 6 6 . 9
3 7 . 9 2 2 0 . 4
- 3 4 . 9 - 5 . 0 13 .7
2 4 6 . 0 2 5 7 . 5 2 2 1 . 2
8 . 0 - 5 . 2
6 .6 10 .2
* 16 .7
- 1 9 . 3 7 .1
.6
108 .2 2 9 . 0 5 2 . 8
- 8 0 . 5 106 .9
127 .7 135.1
8 . 4 - 7 4 . 7
3 9 . 2 19 .6
3 4 . 9 3 . 1
3 2 . 4 105 .9
- 8 6 . 3 2 9 . 8 13 .3
2 1 8 . 1 2 2 7 . 3 185 .2 2 7 . 3 - 6 . 0
4 . 5 12 .0
7 .0 - 2 . 7
- 1 7 . 4 7 .4
.7
6 6 . 6 19 .9 4 3 . 7
- 5 4 . 3 5 7 . 3
101 .9 78 .4
- 3 1 . 0 8 6 . 1 - 3 . 7
- 2 7 . 9
6 4 . 4 - 9 4 . 6
2 6 . 4 180 .4
- 5 1 . 7 16 .3 12 .6
170 .2 154 .0 153 .5
2 . 5 K
5 . 7 6 .0
- 2 4 . 1 10 .3
12 .6 2 . 8
.8
2 7 7 . 1 5 2 . 1 9 7 . 0
3 . 5 124 .5
3 1 . 5 2 4 . 8 - 6 . 3
9 .1 22 .9
- 1 8 . 9
7 0 . 2 - 1 9 . 1
3 7 . 8 5 5 . 2
- 4 1 . 0 - 7 . 3 12 .6
181 .7 162 .6 144.9 - 1 1 . 6 - 1 1 . 9
.5 6 .2
2 0 . 0 14 .6
14 .3 4 . 0
.8
- 4 4 . 3 19.1 10 .7
- 4 2 . 3 - 3 1 . 8
154.9 158.2
7 .7 5 7 . 4
3 .7 - 7 2 . 1
113.0 - 3 7 . 0
18 .1 168.9
- 6 2 . 6 17.1 12 .6
2 1 4 . 0 199.7 175 .3 - 1 7 . 1
- 3 . 2
10 .0 6 .0 9 .4
19 .4
7 .5 6 .0
.8
Dep. 8 cr. mkt. instr. (1) 19
Deposits 20 Checkable dep. 8 curr. 21 Small time 8 svgs.dep. 22 Large time deposits 23 Money mkt. fund shares 24
Credit mkt. instruments 25 U.S. govt, securities 26 Tax-exempt obligations 27 Corporate 8 fgn. bonds 28 Mortgages 29 Open-market paper 30
Mutual fund shares 31 Other corporate equities 32
Life insurance reserves 33 Pension fund reserves 34
Net inv. in noncorp. bus. 35 Security credit 3C Miscellaneous assets 3/
Net increase in liabilities 38 Credit market instruments 39
Home mortgages 40 Installment cons, credit 4J Other consumer credit <•
Tax-exempt debt Other mortgages Bank loans n.e.c. Other loans
Security credit Trade debt Miscellaneous
43 44 45 46
47 48 49
-71.4 -29.0 47.1 Discrepancy 50
(1) Excludes corporate equities.
Memoranda:
51 52 53 54 55 56
57 58 59
60 61
62 63 64
2 0 4 . 0 5 . 3
198.7 7 0 . 0
2 3 3 . 0 - 9 9 . 0
4 2 3 . 4 305 .4 118 .0
3 3 . 5 8 4 . 5
18 .3 14 .8
3 . 5
2 2 4 . 3 5 . 3
2 1 9 . 1 73 .0
2 3 0 . 8 - 7 9 . 5
4 5 7 . 5 323 .7 133.8
5 0 . 2 8 3 . 6
19 .0 15 .4
3 . 5
2 3 7 . 8 5 . 1
2 3 2 . 8 76 .0
2 2 1 . 6 - 5 9 . 7
4 7 4 . 6 340 .7 133.9
39 .1 9 4 . 8
19 .5 16 .1
3 . 4
2 2 1 . 7 4 . 8
2 1 6 . 8 79 .4
2 1 5 . 2 - 7 2 . 9
4 8 0 . 3 3 5 5 . 0 125 .3
14 .3 111 .1
2 0 . 1 16 .4
3 . 7
!41.4 5 . 0
136.5 77 .1
121.6
2 3 4 . 5 4 . 9
2 2 9 . 6 77 .8
300 .7
227 .2 4 . 9
2 2 2 . 4 78 . 6
2 2 1 . 2
2 1 6 . 0 4 . 9
2 1 1 . 1 7 9 . 3
185 .2
2 0 8 . 9 4 . 7
2 0 4 . 2 8 1 . 8
153 .5
197.6 4 . 0
193 .6 8 2 . 3
144 .9 -57.3 -144.0 -72.5 -48.5 -26.4 -29.5 -72.0
Net physical investment: (A) Residential construction
186.8 Expenditures 4.4 Mobile homes
182.5 Other 83.6 - Capital consumption 175.3 - Home mortgages
= Excess net investment
4 7 1 . 2 347 .1 124 .1
4 4 . 1 8 0 . 0
19 .7 16 .4
3 . 3
4 9 2 . 1 3 5 1 . 3 140.8
30 .4 110 .4
19 .8 16 .5
3 . 2
4 7 8 . 4 355 .6 122 .8
2 . 8 120 .0
19 .9 16 .7
3 . 2
4 8 2 . 3 359 .8 122 .5
2 1 . 3 101 .2
2 0 . 0 16 .9
3 . 2
4 6 8 . 5 353 .2 115 .3
2 . 5 112 .8
2 0 . 7 15 .5
5 . 2
4 5 5 . 3 358 .8
9 6 . 5
- 2 3 . 6 120.1
2 0 . 7 15 .8
4 . 9
4 5 4 . 0 360 .1
9 3 . 9
- 2 0 . 4 114.2
(C 2 0 . 0 15 .6
4 . 4
(B) Consumer durables Expenditures - Capital consumption = Net investment
- Consumer credit = Excess net investment
(C) Nonprofit plant and equip. Expenditures - Capital consumption = Net investment
51 52 53 54 55
57 58 59
60 61
Percentages:
65 66
15 .2 2 . 9
14 .5 4 . 2
15 .0 4 . 6
15 .1 4 . 6
15 .0 4 . 6
14 .8 4 . 9
15 .1 5 . 0
15 .2 4 . 2
15 .2 4 . 2
15 .1 4 . 2
15.0 Effective tax rate 4.2 Saving rate* NIPA basis
65 66
Percent of adj. disposable income (2):
19.7 20.0 Gross saving
68 1 9 . 6 69 1 1 . 6 70 8 . 0 71 9 . 2
72 3 2 9 1 . 0
B I L L I O N S OF
1 9 . 6 1 3 . 3
9 . 0 8 . 8
3 5 7 0 . 4
DOLLARS,
1 9 . 1 1 1 . 3
7 . 6 7 . 4
3 8 3 3 . 8
. LATEST
1 7 . 9 1 0 . 4
6 . 4 6 . 3
4 0 4 2 . 2
QUARTFR
18 .8 11 .5
7 .5 7 .5
18 .8 12 .5 10.1
9 .5
18 .0 12 .2
6 .1 6 .4
17 .6 9 .0 5 . 3 5 . 6
17.1 7 .9 4 .2 3 . 8
16.4 10 .2
4 .4 4 . 0
15.8 Capital expenditures 68 8.1 Acquisition of finan. assets 69 5.1 Net incre?ce in liabilities 7C 4.8 Credit market borrowing 71
3902.0 3972.6 4023.1 4082.9 4090.1 4106.9 4181.2 (2) Adj. disposable income = 72 (NIPA disposable income • govt, insurance credits + capital gains divid.)
RASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1991 Total and Noncorporate Business
UNADJUSTED NET FLOWS, $ MILLIONS
Sector Statements of Saving and Investment
Total and Noncorporate Business
UNADJUSTED NET FLOWS, $ MILLIONS
I 1989 I I IV I I
1990 II III
I 1991 IV I I II
ANNUAL FLOWS- $ BILLIONS 1983 1984 1985 1986
Nonfinancial Business - Total
1 Income before taxes 2 Gross saving
3 Gross investment
4 Capital expenditures
150,842 161.066 167,238 169-559 157,059 154-345 166,447 124-764 116-103 125-954 126,406 121-776 117-681 127,347
122-817 128,820 118-602 117-717 118,051 139,682 121,633
106,366 110-802 112-903 115-572 97-302 106-180 93-118 119-375 115-532 110-096 5 Fixed investment
6 Business plant 8 equipment 111-814 104-151 111,141 7 Home construction (1) -3-764 -9-613 8-762 8 Multifamily residential -1,870 -1,420 -528 9 Change in inventories -388 16,974 -7,566
10 Mineral rts. from U.S. 90Vt. 574 710 1,094
11 Net financial investment 16,451 18,018 5-699 12 Net acq. of financial assets 56-039 9-281 39,058 13 Net increase in liabilities 39,588 -8-737 33-359 14 Corporate equities -19,825 -17,250 -12-000 15 Credit market instruments 42-307 27,306 37-829 16 Bonds 21-421 7,013 17,526 17 Mortgages 3,913 -1,346 2-471 18 Bank loans n.e.c. 8,048 -3-178 6,181 19 Commercial paper -6,161 18-922 2,625 20 Other loans 15,086 5,895 9,026
21 Trade debt 19,121 -9-846 5,436 22 Other liabilities 24,206 20,471 11,938 23 Proprietor net investment -26,221 -29,418 -9,844
109,832 112,814 3-551 -3-469 2,149 751 -586 -13,847 626 1,053
98-338 94,534 83-270 115,447 97-713 105-834
- 1 2 - 0 5 6 9 ,858
2-145 22-169 2 0 , 0 2 4
- 1 8 - 5 0 0 17-653 7-958 5-013
-5-467 3,152 6-997
19,089 13,463 -11,681
20-749 29-718 8,969
-15,250 12-819 16-907 -3-908 5-906
-14-959 8-873
-2-387 14,500
568
41,344 16-166
-25-178 -3-000 -5,847 19-847
-12-872 -6-649 2,998
-9-171
-245 -21,675
762
27,099 33,419 6,320 2,750 16,305 24,106 3,695
-12,488 -1,426 2,418
24 Discrepancy 1,947 -12,717 7,352
19,038 -9,434 1,708 6,551 11-102 1,901
-14,189 -17,999 -16,344
3,725 -22-001 5,714
376.1 372.4
348.0
343.1 342.4 323.1
1.5 17.8 -7.1 7.8
4.9 156.1 151.2 20.0 142.3 25.4 69.0 21.7 -.8 27.0
36.7 32.7
-80.5
24.3
457.6 426.4
410.0
471.5 395.9 370.4 2.5
22.9 67.7 7.9
-61.5 153.4 214.9 -79.0 293.6 66.6 85.6 68.1 21.7 51.6
38.3 50.2
-88.2
16.5
455.7 445.2
414.6
432.8 417.1 390.1
1.3 25.8 11.3 4.4
-18.2 125.3 143.5 -84.5 249.1 96.1 86.5 33.7 14.6 18.1
39.2 31.0
-91.2
30.6
465.8 1 439.5 2
396.6 3
426.1 4 412.1 5 376.9 6
6.0 7 29.2 8 6.9 9 7.2 10
-29.5 11 192.6 12 222.1 13 -85.0 14 292.7 15 116.9 16 95.4 17 57.3 18 -9.3 19 32.4 20
18.1 21 46.2 22
-49.9 23
43.0 24
Farm Business
1 Proprietors' net income w/IVA 8 CCAdD.
2 Net saving (corporate) 3 Capital consumption 4 Corporate 5 Noncorporate 6 Current surplus = gross saving
7 Gross investment 8 Capital expenditures 9 Plant and equipment
10 Residential construction 11 Change in inventories
12 Net financial investment 13 Net acq. of financial assets 14 Checkable dep. 8 currency 15 Miscellaneous assets 16 Insurance receivables 17 Eq. in spons. a9s. (2)
18 Net increase in liabilities 19 Credit market instruments 20 Mortgages 21 Bank loans n.e.c. 22 Other loans
11,425 14,350 12-750 10,600 12-200 12,125 12,950
23 24
Trade debt Proprietor net investment
508 5,181
358 4,823 5,689
5,689 1.079 268 586 225
4,610 1,080
62 1,018 829 189
•3,530 65
-975 -703 1,743
381 3,976
540 5,190
356 4,834 5,730
5,730 2,442
555 562
1,325
3,288 864 63
801 851 -50
-2,424 -617 -164
-1,433 980
406 -2,213
572 5,199
354 4,845 5,771
5-771 1,856 1,080 651 125
3,915 887 64
823 873 -50
-3,028 1,346
96 2-550
-1,300
431 -4,805
605 5,208
352 4,856 5,813
5-813 2,763 1,600 613 550
3-050 910 65
845 895 -50
-2,140 2,940
327 1-313 1,300
456 -5,536
459 6,384
719 5,665 6,843
6-843 2,664 1.700 589 375
4,179 900 50
850 850
--3,279 -1,101 -301 -300 -500
250 -2,428
514 6,247
671 5,576 6,761
6,761 3,434 2,238
471 725
3,327 883 53
830 880 -50
-2,444 -1-148
-336 -912 100
304 -1,600
375 6,552
735 5,817 6,927
6,927 996
1,664 532
-1,200
5,931 531 50
481 431 50
-5,400 3,702 226
2,476 1,000
250 -9,352
.6 22.4 1.6
20.8 23.0
23.0 4.1 10.1 1.5
-7.5
18.8 1.3 .1
1.1 1.0 .1
17.6 3.9 2.4 2.8
-1.3
-.7 20.7
.7 22 .5 1.6
20.9 23.2
23.2 20.1 10.4 2.6 7.2
3.1 .2 2 .1 if
.1
-2.8 -.4
-1.2 1.0 -.1
-1.1 -1.3
.9 22.0 1.6
20.4 22.9
22.9 7.4 8.8 1.9
-3.3
15.5 2.7 .2
2.5 2.8 -.3
-12.8 -14.5 -6.6 -4.4 -3.5
-.3 1.9
.6 2 21.2 3 1.5 4
19.7 5 21.8 6
21.8 7 7.7 8 8.2 9 1.2 10
-1.8 11
14.2 12 3.2 13 .2 14
3.0 15 3.6 16 -.6 17
-10.9 18 -16.3 19 -9.5 20 -4.3 21 -2.5 22
.2 23 5.1 24
Nonfarm Noncorporate Business
1 Net income w/ IVA and CCAdj 2 Gross svg. = capital consump.
3 Gross investment 4 Capital expenditures 5 Fixed capital 6 Plant and equipment 7 Home construction (1) 8 Multifamily residential 9 Change in inventories
10 Net financial investment 11 Net acq. of financial assets 12 Checkable dep. 8 currency 13 Time deposits 14 U.S. govt, securities 15 Consumer credit 16 Mortgages 17 Trade credit 18 Miscellaneous assets 19 Insurance receivables 20 Equity in spons.ags. (2) 21 Other
22 Net increase in liabilities 23 Credit market instruments 24 Mortgages 25 Bank loans n.e.c. 26 Other loans
27 Other taxes payable 28 Trade debt 29 Miscellaneous liabilities 30 Proprietor net investment
88,535 25,818
25-818 14-171 11,946 16,414 -2,175 -2,293 2 ,225
11,647 5,032
703 1,283
150 341
-418 1,200 1,773 770 80 923
-6,615 12,870 6-000 2,252 4,618
400 360
2,000 •22,245
91,507 24,154
24,154 8,505 8,712 15,277 -5,088 -1,477
-207
15,649 3,544 613 800 150
-469 -418 1.200 1,668 782 -25 911
-12,105 12,396 9,000 1,583 1,813
400 304
2,000 -27,205
92,230 24,190
24,190 18,345 18-185 14,919 4,056 -790 160
5.845 3,888 546 800 150 -2
-418 1,200 1,612 738 -25 899
-1,957 434
-4,800 979
4,255
400 248
2.000 -5,039
94,427 24,551
24-551 17-982 17-899 14,565 1,469 1,865
83
6-569 3,386 467 438 150 -42
-418 1,200 1,591 729 -25 887
-3,183 312
2,225 -1,458
-455
400 250
2,000 -6,145
97,811 23.729
23,729 10,851 11,246 12,672 -2,029
603 -395
12-878 4,293 455 455 150 676
-418 1,200 1,775 800 -25
1,000
-8-585 526
-4,250 -1,237 6,013
400 250
2,000 -11,761
96,115 23,869
23-869 3-700 4,150 12-544 -6,264 -2.130
-450
20-169 2-768
372 450 150
-703 -416 1,200 1,715 768 -25 972
-17.401 -3,702 -2,627
-818 -257
400 300
2,000 -16.399
99.035 23-779
23,779 15,538 15,908 11,952 4,663 -707 -370
8,241 2,726 -275 425 150
-119 -418 1,200 1,763 750 13
1,000
-5,515 -1-223 -1,775 -2,250 2,802
400 300
2,000 -6,992
!04.1 64.2
64.2 68.5 68.6 52.0
* 16.6 _ 2
-4.3 32.8 8.2 13.6 2.8 .7
4.3 6.8
-3.7 -4.6
K
.9
37.1 81.9 71.0 -.5 11.3
1.8 .5
12.7 •59.8
231.1 67.4
67.4 81.7 72.8 51.6
K
21.2 8.9
-14.3 48.0 4.8 13.3 -.5 .4
10.0 6.r,
13 5 11.0
* 2.4
62.3 123.2 88.2 16.8 18.1
1.1 5.7
19.2 -86.9
255.2 70.5
70.5 84.2 75.9 51.8 -.3 24.5 8.3
-13.7 38.8 11.5 11.5
.3
.3 4.7 4.1 6.4 3.8
K
2.6
52.5 129.3 111.0 6.2 12.2
3.4 5.4 7.5
-93.1
274.6 1 73.4 2
73.4 3 88.1 4 82.9 5 52.7 6 2.4 7
27.8 8 5.2 9
-14.7 10 38.6 11 6.0 12 11.2 13 1.2 14 .3 15
2.7 16 6.4 17 10.8 18 4.8 19 -.1 20 6.0 21
53.2 22 99.2 23 76.3 24 11.7 25 11.2 26
1.7 27 4.2 28 3.1 29
-55.0 30
(1) Farm plus nonfarm change in work in process. (2) Shares in FICBs, Banks for Cooperatives- and Federal Land Banks.
LATEST QUARTER BASED ON INCOMPLETE INFORMATION. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Total and Noncorporate Business
SEASONALLY ADJUSTED ANNUAL RATES
Sector Statements of Saving and Investment
Total and Noncorporate Business
SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS- $ BILLIONS 1987 1988 1989 1990
I 1989 I 1990 I 1991 I IV I I II III IV I I II
Nonfinancial Business - Total
5 6 9 . 5 4 7 3 . 9
6 3 6 . 2 4 9 8 . 0
6 4 3 . 1 4 9 9 . 2
6 5 4 . 9 4 9 0 . 2
4 4 6 . 7 4 4 4 . 5 4 7 5 . 0
6 2 5 . 8 5 0 0 . 9
6 5 1 . 2 4 9 0 . 1
6 5 2 . 0 4 9 4 . 6
6 5 9 . 2 4 8 7 . 9
6 5 7 . 3 4 8 8 . 4
6 2 3 . 7 5 0 0 . 1
646.9 Income before taxes 498.5 Gross saving
476.1 508.1 480.4 496.8 492.7 Gross investment
4 5 6 7 8 9
10
11 12 13 14 15 16 17 18 19 20
21 22 23
24
433.3 402.1 380.4
4 . 0 17.6 28.3
2 . 9
13.5 128.0 114.5 -75.5 191.0 78.5 59.2 12.6
2 . 3 38.6
24.0 62.8
-87.8
27.1
453.3 423.7 416.0
1.3 6.4
26.2 3 . 3
-8 .8 137.8 146.6
-129.5 242.8 103.0 48.6 41.6 11.9 37.7
46.8 68.1
-81.6
53.5
455.3 424.7 431.5 -2 .5 -4 .3 28.3
2 . 4
19.7 128.1 108.4
-124.2 211.9
72.6 40.7 38.3 20.4 40.0
31.0 79.1
-89.4
24.2
436.6 438.1 437.9
- . 8 1.0
-5 .0 3 .5
46.6 100.2 53.6
-63.0 95.6 49.4
2 . 2 3.4 9 .7
30.8
33.7 52.4
-65.1
7.0
442.7 415.4 430.4
-7 .0 -8 .1 25.0
2 . 3
50.6 109.6 59.0
-79.3 126.9 85.7
8 . 9 7 .1
-6 .9 32.2
24.4 82.4
-95.5
432.1 441.0 439.2
K
1.8 -11.7
2 . 8
36.0 125.1 89.1
-69.0 162.9 28.1 32.2
7.9 69.6 25.1
18.5 71.9
-95.1
451.1 433.3 431.8
1.1 .4
13.5 4 . 4
25.0 133.5 108.5 -48.0
94.0 70.1
-15.4 15.3 -6 .2 30.1
30.0 71.6
-39.0
459.6 448.1 446.6
1.7 - . 1 9 .0 2 . 5
48.5 131.1 82.7
-74.0 116.2 31.8 15.4 -9 .4 17.3 61.1
63.7 55.9
-79.1
403.4 430.1 434.2 -5 .8
1.7 -30.9
4 . 2
77.0 11.1
-65.9 -61.0
9.4 67.6
-23.3 - . 1
-41.7 6 .8
22.7 10.3
-47.4
374.4 406.3 413.9 -7 .9
. 3 -34.2
2 . 3
122.4 150.5 28.1
-12.0 32.0 79.4
-12.4 -5 .8
5 . 1 -34.4
21.6 33.6
-47.0
385.5 416.0 409.6
3 .6 2 . 8
-33.5 3 .0
107.2 105.3 -1 .8 11.0
4 . 3 96.4
-11.4 -61.0 -22.6
2 . 8
14.5 32.3
-64.0
Capital expenditures 4 Fixed investment 5
Business plant 8 equipment 6 Home construction (1) 7 Multifamily residential 8
Change in inventories 9 Mineral rts. from U.S. govt. 10
Net financial investment 11 Net acq. of financial assets 12 Net increase in liabilities 13
Corporate equities 14 Credit market instruments 15
Bonds 16 Mortgages 17 Bank loans n.e.c. 18 Commercial paper 19 Other loans 20
Trade debt 21 Other liabilities 22 Proprietor net investment 23
5.8 Discrepancy
Farm Business
2 3 4 5 6
7 8 9
10 11
12 13 14 15 16 17
18 19 20 21 22
23 24
.9 20.5
1.5 19.0 21.4
21.4 7 .2 9 .5 1.7
-4 .0
14.2 2 . 4
.2 2 . 2 2 . 6 - . 5
-11.8 -10.6
-6 .4 -2 .2 -2 .0
.6 -1 .8
1.4 20.5
1.5 19.1 21.9
21.9 4 . 1 6 .5 1.1
-3 .6
17.8 3.1
.2 2 . 9 2 . 8
.1
-14.7 -7 .5 -2 .1
.8 -6 .2
1.0 -8 .2
1.8 20.7
1.4 19.2 22.5
22.5 9 .3 2 . 4 1.9 5 .0
13.2 2 . 8
.2 2 . 5 3 .2 - . 7
-10.4 1.6
-1 .5 1.0 2 . 1
1.4 -13.4
2 . 2 22.0
1.8 20.2 24.2
24 .2 9 .7 4 . 9 2 . 4 2 . 4
14.4 3 .6
.2 3 .3 3 . 5 - • 2
-10.9 2 . 6
K
2 . 1 .5
1.5 -15.0
2 . 0 20.7
1.4 19.3 22.8
22.8 4 . 2 1.1 2 . 3
.9
18.5 4 . 3
.2 4 . 1 3 . 3
.8
-14.2 8 . 9
-3 .2 2 . 6 9 .4
1.5 -24.6
2 . 2 20.8
1.4 19.3 22.9
22.9 10.1
2 . 3 2 . 5 5 . 3
12.8 3 .5
. 3 3 .2 3 .4 - . 2
-9 .3 6 .2
.5 - . 6 6 . 3
1.6 -17.2
2 . 3 20.8
1.4 19.4 23.1
23.1 7.2 4 . 2 2 . 5
.5
15.9 3 .5
. 3 3 .3 3 .5 - .2
-12.3 -10.8
-1 .9 1.5
-10.4
1.7 -3 .2
2 . 4 20.8
1.4 19.4 23.3
23.3 11.0
6.4 2 . 4 2 . 2
12.3 3 .6
. 3 3 .4 3 .6
-•2
-8 .6 11.7
2 . 0 3.4 6 .4
1.8 -22.2
1.8 25.5
2 . 9 22.7 27.4
27.4 10.6
6 .8 2 . 3 1.5
16.8 3 .6
.2 3 .4 3 .4
--13.2
3 .1 - . 7 4 . 2 - . 3
1.0 -17.3
2 . 1 25.0
2 . 7 22.3 27.0
27.0 14.1
9 . 1 2 . 1 2 . 9
12.9 3 .5
.2 3 . 3 3 . 5 - . 2
-9 .4 4 . 7
*> 1.6 2 . 9
1.2 -15.3
1.5 26.2
2 . 9 23.3 27.7
27.7 3 . 8 6 .5 2 . 1
-4 .8
23.9 2 . 1
.2 1.9 1.7
•2
-21.8 -1 .6 -1 .6
1.2 -1 .2
1.0 -21.3
51.8 Proprietors' net income w/IVA 8 CCAdj.
1.5 Net saving (corporate) Capital consumption Corporate Noncorporate
27.7 Current surplus = gross saving 6
27.7 Gross investment 7 Capital expenditures 8 Plant and equipment 9 Residential construction 10 Change in inventories 11
Net financial investment 12 Net acq. of financial assets 13 Checkable dep. 8 currency 14 Miscellaneous assets 15
Insurance receivables 16 Eq. in spons. ags. (2) 17
Net increase in liabilities 18 Credit market instruments 19 Mortgages 20 Bank loans n.e.c. 21 Other loans 22
Trade debt Proprietor net investment
23 24
Nonfarm Noncorporate Business
1 2
3 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
309.4 80.0
80.0 72.0 70.6 52.9
1.1 16.6
1.3
8 . 0 13.1
4 . 0 -5 .0
.6
.3 -1 .7
4 . 8 10.0
6.0 K
4 . 0
5 . 0 77.9 50.0 10.7 17.2
1.6 3 .6 8 . 0
-86.0
341.4 84.7
84.7 70.9 63.1 57.8
. 1 5 . 2 7 .8
13.8 18.4
4 . 1 1.7
.6
.4 -1 .7
4 . 8 8 . 5 4 . 6
-4 . 0
4 . 6 65.7 39.5
8 . 1 18.1
1.6 2 . 7 8 . 0
-73.4
353.1 96.7
96.7 63.8 55.9 63.7 -2 .2 -5 .6
7 .9
32.9 19.1
3 .2 5 . 1
.6 - . 1
-1 .7 4 . 8 7 .1 3 . 3
.1 3 .8
-13.8 50.8 35.6
4 . 2 10.9
1.6 1.8 8 . 0
-76.0
376.0 96.6
96.6 55.7 56.0 57.4 -1 .6
.2 - . 4
40.9 15.1
2 . 1 2 . 5
.6 ^2
-1 .7 4 . 8 6 .6 3 .0 - . 1 3 .7
-25.8 13.7 2 .2 - . 1
11.6
1.6 1.1 8 . 0
-50.2
354.1 103.3
103.3 60.2 51.3 65.7 -4 .6 -9 .7
8 . 9
43.0 18.2
2 . 8 5 . 1
.6 - . 6
-1 .7 4 . 8 7 .1 3 .1
.3 3 .7
-24.9 35.0 24.0
9.0 2 . 0
1.6 1.4 8 . 0
-70.9
366.0 96.6
96.6 59.3 60.1 61.0 -1 .3
.4 - . 8
37.4 15.8
2 . 5 3 .2
.6 - . 3
-1 .7 4 . 8 6 .7 3 .1 - . 1 3 .6
-21.6 45.5 36.0
6 . 3 3 .2
1.6 1.2 8 . 0
-77.9
368.9 96.8
96.8 59.5 58.9 59.8
- . 7 - .2
.6
37.2 15.6
2 . 2 3 .2
.6 M
-1 .7 4 . 8 6 .4 3 .0 - . 1 3 .6
-21.7 3 .5
-19.2 3 .9
18.8
1.6 1.0 8 . 0
-35.8
377.7 98.2
98.2 57.6 57.3 58.3
- . 4 - . 6
. 3
40.6 14.0
1.9 1.8
.6
.2 -1 .7
4 . 8 6 .4 2 . 9 - . 1 3 .5
-26.6 19.6 8 . 9
-5 .8 16.6
1.6 1.0 8 . 0
-56.8
391.2 94.9
94.9 46.3 47.9 50.7 -4 .0
1.2 -1 .6
48.6 15.2
1.8 1.8
.6
.7 -1 .7
4 . 8 7 .1 3 .2 - . 1 4 . 0
-33.4 -14.0 -17.0 -4 .9
8 . 0
1.6 1.0 8 . 0
-30.1
384.5 95.5
95.5 43.2 45.0 50.0 -5 .0
* -1 .8
52.2 12.7
1.5 1.8
.6 -1 .2 -1 .7
4 . 8 6 .9 3 .1 - . 1 3 .9
-39.6 -18.7 -10.5
-3 .3 -4 .9
1.6 1.2 8 . 0
-31.7
396.1 95.1
95.1 48.7 50.2 48.0
. 8 1.4
-1 .5
46.4 10.9 -1 .1
1.7 .6
- . 5 -1 .7
4 . 8 7 .1 3 .0
.1 4 . 0
-35.5 -3 .6 -7 .1 -9 .0 12.5
1.6 1.2 8 . 0
-42.7
396.1 Net income w/ IVA and CCAdj 1 95.1 Gross svg. = capital consump. 2
95.1 Gross investment 3 Capital expenditures 4 Fixed capital 5
Plant and equipment 6 Home construction (1) 7 Multifamily residential 8
Change in inventories 9
Net financial investment 10 Net acq. of financial assets 11
Checkable dep. 8 currency 12 Time deposits 13 U.S. govt, securities 14 Consumer credit 15 Mortgages 16 Trade credit 17 Miscellaneous assets 18
Insurance receivables 19 Equity in spons.ags. (2) 20 Other 21
Net increase in liabilities 22 Credit market instruments 23 Mortgages 24 Bank loans n.e.c. 25 Other loans 26
Other taxes payable 27 Trade deb : 28 Miscella eous liabilities 29 Proprietor net investment 30
(1) Farm plus nonfarm change in work in process. (2) Shares in FICBs, Banks for Cooperatives- and Federal Land Banks.
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Nonfinancial Corporate Business
10 Sector Statements of Savins and Investment
UNADJUSTED NET FLOWS, $ MILLIONS
Nonfinancial Corporate Business
UNADJUSTED NET FLOWS, $ MILLIONS
I 1989 I 1990 I 1991 I IV I I II III IV I I II
ANNUAL FLOWS. $ BILLIONS 1983 1984 1985 1986
Nonfinancial Corporate Business, Excluding Farms
1 Profits before tax (book) 2 - Profit tax accruals 3 - Dividends 4 * U.S. undistributed profits
5 • Capital consumption adj. 6 • Depreciation chafes, NIPA 7 = U.S. internal funds, book
8 • F9n. earnings ret. abroad 9 • Inv. valuation adjustment 10 = Total internal funds • IVA
11 Gross investment 12 Capital expenditures (1) 13 Fixed investment 14 Plant and equipment 15 Home construction 16 Multifamily residential 17 Inventory change • IVA 18 Mineral rts. from U.S. 9ovt.
19 Net financial investment 20 Net acq. of financial assets
21 Liquid assets 22 Checkable dep. and curr. 23 Time deposits 24 Money mkt. fund shares 25 Security RPs 26 Foreign deposits 27 U.S. 90vt. securities 28 Tax-exempt obligations 29 Commercial paper
30 Consumer credit 31 Mutual fund shares 32 Trade credit 33 Miscellaneous assets 34 Foreign dir.invest.(2,4 ) 35 Equity, etc. 36 Retained earnings
37 Insurance receivables 38 Equity in sponsored ags 39 Other
40 Net increase in liabilities 41 Net funds raised in mkts. 42 Net new equity issues
43 Debt instruments 44 Tax-exempt debt (3) 45 Corporate bonds (2) 46 Mortgages 47 Bank loans n.e.c. 48 Commercial paper
49 Other loans 50 Savingsfiloan assns. 51 Finance companies 52 U.S. government 53 Accept.liab.to banks 54 Foreign
55 Profit taxes payable 56 Trade debt 57 Fgn.dir.invest.in U.S.(4) 58 Equity, etc. 59 Retained earnings
60 Discrepancy
Memorandum items: 61 Trade credit net of trade debt 62 Profits tax payments 63 Earnings rec. from abroad
Percent ratios: 64 Effective tax rate 65 Capital outlays/internal funds 66 Cr. mkt. borrowing/cap. exp.
5 0 , 8 8 2 2 1 , 6 4 1 2 7 - 4 6 4
5 , 8 1 4
2 , 4 1 4 8 1 - 0 7 1 8 9 , 2 9 9
8 , 2 1 1 - 4 , 2 5 3 9 3 , 2 5 7
9 1 , 3 1 0 9 1 , 1 1 6 9 3 , 3 8 0 9 5 , 1 3 2 - 2 , 1 7 5
4 2 3 - 2 - 8 3 8
5 7 4
1 9 4 ; 4 9 , 9 2 7
1 9 , 0 9 9 2 , 0 4 1 7 , 0 0 0
5 9 9 4 , 0 0 0 5 - 4 5 9
---
2 , 9 4 8 2 4 9
- 2 , 9 4 8 3 0 - 5 7 9
) 1 , 5 7 4 2 - 8 5 2
- 1 , 2 7 8
4 - 0 0 0 5
2 5 , 0 0 0
4 9 - 7 3 3 9 , 5 4 7
- 1 9 , 8 2 5
2 9 , 3 7 2 - 4 3 0
2 1 , 8 5 1 - 1 , 1 1 2
6 , 4 9 9 - 6 , 1 6 1
8 , 7 2 5 - 3 4 4
6 , 1 4 8 5 3
S 6 2 0 2 , 2 4 8
1 , 3 6 9 1 8 - 3 8 0 2 0 - 4 3 7 2 2 , 1 4 4 - 1 , 7 0 7
5 5 , 2 0 9 2 3 , 2 6 8 2 9 - 1 7 2
- 7 6 3
1 - 3 3 7 8 0 - 9 3 4 8 1 , 5 0 8
9 , 6 5 0 - 4 , 9 3 9 8 6 , 2 1 9
9 8 - 9 3 6 9 9 , 8 5 5 8 3 , 2 8 9 8 8 , 3 1 9 - 5 , 0 8 7
5 7 1 5 , 8 5 6
7 1 0
- 9 1 9 4 , 8 7 3
- 5 , 5 0 0 - 8 5 3
2 , 0 0 0 1 , 5 0 0
- 5 , 5 0 0 - 5 - 6 4 7
6 - 0 0 0 - 1 , 0 0 0 - 2 . 0 0 0
- 3 - 8 0 4 3 3 9
1 4 , 8 0 4 - 9 6 6
9 , 0 2 5 2 , 4 1 3 6 , 6 1 2
4 , 5 0 0 9
- 1 4 , 5 0 0
5 , 7 9 2 - 1 , 7 2 3
- 1 7 , 2 5 0
1 5 , 5 2 7 - 5 4 7
7 , 5 6 0 - 1 0 , 1 8 2
- 3 , 3 2 8 1 8 , 9 2 2
3 , 1 0 2 - 5 6 7
2 , 1 1 7 5 0
- 2 - 9 4 4 4 , 4 4 6
1 , 1 8 8 - 1 0 - 5 5 6
1 6 - 8 8 3 1 9 , 3 5 0 - 2 - 4 6 7
6 2 , 2 5 8 2 6 - 0 4 1 2 6 - 5 1 2
7 , 9 8 2
3 1 0 8 1 , 4 0 8 8 9 , 7 0 0
7 , 2 7 5 - 9 8 2
9 5 , 9 9 3
8 8 , 6 4 1 9 2 - 7 0 2 9 9 - 4 5 9 9 5 - 1 4 2
4 - 0 5 5 2 6 2
- 7 , 8 5 1 1 - 0 9 4
- 4 - 0 6 1 3 4 , 2 8 3
4 , 9 5 0 - 4 , 0 7 2
- 5 0 0 - 5 0 0
-5 , 5 7 2 2 , 0 0 0
- 2 5 0 2 , 7 0 0
3 7 0 4 0 0
9 - 4 3 0 1 9 - 1 3 3
2 - 8 8 0 - 2 - 9 5 0
5 , 8 3 0
4 , 0 0 0 3
1 2 , 2 5 0
3 8 - 3 4 4 2 4 , 0 4 9
- 1 2 , 0 0 0
3 6 - 0 4 9 3 3 5
1 7 - 1 9 1 7 , 1 7 5 2 . 6 5 2 2 , 6 2 5
6 , 0 7 1 - 1 , 1 7 7
5 , 9 6 0 5 0
- 2 , 0 0 7 3 , 2 4 5
2 6 1 4 , 7 5 7 9 - 2 7 7
1 0 , 2 5 8 - 9 8 1
6 4 - 5 3 2 2 6 - 2 7 8 2 9 , 0 7 8
9 , 0 6 5
- 8 9 2 8 2 , 6 9 1 9 0 , 8 6 4
6 , 8 7 6 - 1 , 6 9 8 9 6 , 0 4 2
8 7 - 3 5 3 9 4 - 8 2 7 9 5 - 4 2 0 9 3 - 6 6 7
1 - 4 6 9 2 8 4
- 1 , 2 1 9 6 2 6
- 7 , 4 7 4 1 7 , 8 7 3
1 , 2 5 0 2 - 1 7 5
- 1 , 0 0 0 1 , 0 0 0
- 1 , 2 5 0 - 6 7 5
- 1 , 7 5 0 7 5 0
2 - 0 0 0
2 8 3 4 9 0
1 9 , 4 1 7 - 3 - 5 6 7 1 8 , 3 7 4 1 2 - 0 4 1
6 , 3 3 3
3 , 5 0 0 9
- 2 5 , 4 5 0
2 5 , 3 4 7 - 4 , 0 9 9
- 1 8 , 5 0 0
1 4 , 4 0 1 —252
8 - 2 1 0 2 - 4 6 1
- 5 , 3 2 2 3 , 1 5 2
6 , 1 5 2 - 9 8 4
1 , 2 6 1 1 0 0
- 1 , 1 3 3 6 - 9 0 8
2 , 6 8 3 1 8 , 3 8 3
8 - 3 8 0 9 , 8 2 0
- 1 - 4 4 0
4 7 , 0 4 8 2 0 - 3 1 7 3 2 - 7 1 5
- 7 1 5
- 1 - 4 7 5 8 3 , 1 0 1 8 0 , 9 1 1
1 4 , 0 4 9 - 3 - 7 5 6 9 1 , 2 0 4
8 7 , 4 7 9 8 3 - 7 8 7 9 6 - 5 6 1 9 8 - 4 4 2 - 2 , 0 2 9
1 4 8 - 1 3 , 8 2 7
1 - 0 5 3
3 , 6 9 2 2 4 , 5 2 5
2 2 - 7 5 0 3 , 2 0 8 6 , 0 0 0
5 0 0 2 - 5 0 0 7 , 7 9 2 3 - 5 0 0
2 5 0 - 1 , 0 0 0
3 , 2 7 1 2 5 0
- 1 7 - 2 7 1 1 5 - 5 2 5 - 2 , 6 6 6 - 5 , 0 3 4
2 , 3 6 8
3 - 5 0 0 4
1 4 , 6 8 7
2 0 , 8 3 3 - 1 , 8 5 6
- 1 5 , 2 5 0
1 3 , 3 9 4 1 2 7
1 6 , 7 8 0 6 4 3
7 - 4 4 3 - 1 4 , 9 5 9
3 , 3 6 0 - 1 , 3 0 9
7 - 3 8 9 - 1 - 0 0 0
- 5 3 8 - 1 , 1 8 2
- 3 7 9 1 8 - 5 3 8
4 - 5 3 0 1 1 , 7 9 4 - 7 , 2 6 4
4 6 , 1 0 5 1 9 - 2 3 7 2 8 , 5 7 1 - 5 , 6 5 7
- 2 , 0 9 8 8 4 , 2 9 7 7 6 . 5 4 2
1 1 , 0 9 6 - 5 8 7
8 7 , 0 5 1
1 0 9 , 0 5 2 9 1 , 2 0 4 7 6 , 4 1 1 8 2 - 9 3 1 - 6 , 2 6 3
- 2 5 7 1 4 , 2 2 5
5 6 8
1 7 , 8 4 8 1 2 - 5 1 5
- 3 , 6 5 6 - 2 , 1 6 5
2 , 0 0 0 1 - 0 0 0
- 1 , 0 0 0 - 1 0 , 3 3 5
7 - 0 0 0 1 , 3 4 4
- 1 , 5 0 0
- 3 , 8 5 9 3 7 0
9 , 6 5 8 1 0 , 0 0 2 1 3 - 9 9 9
6 - 0 6 7 7 , 9 3 2
3 , 2 0 0 4 9 8
- 7 , 6 9 5
- 5 , 3 3 3 - 3 , 9 9 7 - 3 , 0 0 0
- 9 9 7 - 2 9 3
2 0 , 1 4 0 - 9 , 9 0 9 - 4 , 9 1 9
2 , 9 9 8
- 9 , 0 1 4 - 9 2 5
9 1 8
-- 4 , 8 3 7 - 4 , 1 7 0
5 , 3 2 6 - 1 0 , 0 3 8
3 , 3 7 6 8 , 2 9 4
- 4 , 9 1 8
5 4 , 4 6 2 2 2 , 2 9 8 2 6 - 8 1 0
3 , 3 8 8
- 1 - 2 5 0 8 4 , 6 4 2 8 6 , 7 8 0
9 , 6 5 5 2 0 6
9 6 , 6 4 1
9 0 , 9 2 7 7 8 - 0 0 0 9 7 , 3 4 3 9 2 , 2 1 8
4 , 6 6 3 4 6 2
- 2 0 , 1 0 5 7 6 2
1 2 , 9 2 7 3 0 , 1 6 2
2 , 3 7 1 - 8 , 8 7 1 - 2 , 8 2 5
5 0 0 5 0 0
9 , 0 9 1 1 , 7 2 6 1 , 2 5 0 1 , 0 0 0
- 3 6 6 5 0 0
5 , 8 6 6 2 1 , 7 9 1
3 , 8 2 4 - 2 , 3 1 7
6 . 1 4 1
3 , 2 0 0 1 3 0
1 4 , 6 3 7
1 7 , 2 3 5 1 6 - 5 7 6
2 , 7 5 0
1 3 , 8 2 6 2 8 6
2 3 , 8 2 0 5 , 2 4 4
- 1 2 , 7 1 4 - 1 , 4 2 6
- 1 - 3 8 4 - 8 0 4
2 , 8 5 6 64
8 4 2 - 4 , 3 4 2
- 3 , 5 9 4 1 , 1 5 8 3 , 0 9 5 7 , 6 0 1
- 4 , 5 0 6
1,947 -12,717 7-352 3-725 -22-001 5-714
-21,328 25-360 23,827 21-825 9,221 3,036
42,531 42,145 97,704 115,815 32,235 15,549
4 , 6 7 3 3 6 , 5 0 6
6 , 0 2 0
41-827 96,571 38,886
308 569
40,720 98,734
-35-809 19,696 26-486 22,071 6,425 5,397
43,183 41,724 91,867 104,770 15,985 -1,093
4,708 33,672 6,361
40-942 80,711 17,725
(1) Capital outlays on book basis: 67 Inventory change, NIPA -2,838 68 Less: Inv. val. adjustment -4,253 69 = Inventory change before IVA 1,415
15,856 -7,851 -4,939 -982 20,795 -6,869
-1,219 -13-827 14,225 -1-698 -3-756 -587
479 -10-071 14,812
70 Total cap. expend, before IVA 95,369 104-794 93,684 96-525 87,543 91-791 71 Less: US internal funds, book 89,299 81,508 89,700 90-864 80,911 76,542
= Financing gap: Excess of capital expenditures 72 over U.S. internal funds 6,070 23,286 3,984 5,661 6,632 15,249
-20,105 206
-20,311
77,794 86,780
159.5 59.3 66.2 33.9
16.0 227.7 277.7
18.4 -10.9 285.2
260.9 270.5 262.2 261.0
1.2 .6
7.8
-9.7 122.1
35.1 8.7 11.6 -7.9 6.2 3.1 8.0 .7
4.7
3, 1,
52, 30, 9,
-3 13,
3.5 K
16.9
131 76 20.
56 9 16 -4 19
16.9 1.2 6.5 -.5 7.0 2.7
6.7 37.0 11.5 11.9 -.3
24.3
196.0 73.3 69.2 53.6
30.9 238.1 322.5
19.2 -5.8 335.9
319 .4 369 .7 310 .1 308 .4
K
1.7 51.7 7.9
-50.3 105.2
24 i: 3, 4
-5 4
2.0 2.8
48.1 28.1 13.4 -3.9 17.3
5.1
155.5 91.9
-79.0
170.8 20.5 46.1 -1.3 50.2 21.7
33.6 4.3 12.2 1.2 2.8 13.0
4.4 33.7 25.6 22.5 3.1
16.5
170.3 69.6 71.8 28.9
55.2 250.5 334.6
18.9 -1.7 351.8
321 341 330 329
1 6
-20.0 83.9
29.3 19.4 5.9
-1.5 9.5
-1.7 -3.6
.8
.5
1.7 3.7
41.7 7.6 9.7
-4.0 13.7
5.1 .1
-7.3
103.9 49.8
-84.5
9.5 2.8 9.8
-2.6 -2.1 1.5
15.2 55.0 11.8
37.2 94.9 20.9
7.7 74.9
37.4 110.1 46.2
40. 97. 39.
281 277
51.7 -5.8 57.5
375.5 322.5
6. -1. 8.
342, 334.
156.5 1 75.2 2 74.1 3 7.3 4
49.5 5 265.3 6 322.1 7
15.5 8 6.8 9
344.3 10
301.3 11 330.4 12 319.8 13 316.1 14 2.4 15 1.3 16 3.5 17 7.2 18
-29.1 19 150.8 20
60.8 21 18.8 22 7.2 23 3.6 24 12.2 25 5.9 26 14.5 27 3.1 28
-4.4 29
,1 30 .8 31 ,5 32 .7 33 ,4 34 .3 35 ,0 36
20.2 37 .1 38
24.0 39
179.8 40 124.7 41 -85.0 42
209.7 43 -9.9 44 126.8 45 28.6 46 49.9 47 -9.3 48
3.7 49 3.3 50 8.0 51 1.5 52 -.2 53
1 54 11
5.3 55 13.7 56 36.1 57 35.4 58
.7 59
43.0 60
15.8 61 74.1 62 17.6 63
48.0 64 96.0 65 63.5 66
3.5 67 6.8 68
-3.3 69
(2) Corporate bonds include net Issues by Netherlands Antilles subsidiaries; U.S. direct investment abroad is before subtracting net inflows of capital from Netherlands Antilles subsidiaries to U.S. parents.
(3) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.
(4) Direct investment totals and retained earnings exclude capital gains/losses included in balance of payments statistics.
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Nonfinancial Corporate Business
SEASONALLY ADJUSTED ANNUAL RATES
Sector Statements of Saving and Investment
Nonfinancial Corporate Business
11 SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS, $ BILLIONS 1987 1988 1989 1990
I 1989 I 1990 | 1991 I IV I I II III IV I I II
Nonfinancial Corporate Business, Excluding Farms
1 2 1 7 . 2 2 5 1 . 0 2 4 1 . 4 2 2 9 . 0 2 9 2 . 9 101 .8 101 .0 9 5 . 9 3 8 1 . 5 8 0 . 5 104 .5 117 .5 4 4 2 . 8 6 8 . 8 3 5 . 9 15 .6
5 4 6 . 6 39 .7 18 .8 - . 7 6 2 7 9 . 6 2 9 5 . 3 315 .4 328.1 7 369 .0 4 0 3 . 8 370 .1 343 .0
2 2 5 . 9 2 2 7 . 8 9 6 . 2 9 4 . 9
103.8 118.2 2 5 . 8 14 .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 33 34 3r T . 37 38 39
22.9 -19.4 372.4
345.3 354.1 320.2 318.0
1.1 1.0
30.9 2.9
-8.8 112.5
24.7 9.6 4.1 .8 .8
-2.5 3.6 2.6 5.7
2.8 -2.7 61.5 26.2 26.0 8.3 17.7
10.9 .4
-11.0
14.5 -27.0 391.4
337.9 378.3 353.1 351.8
.1 1.2
22.0 3.3
-40.5 116.3
-5.1 15.0
« -3.3 8.2
-11.2 -5.7 1.5
-9.6
1.3 -2.7 61.5 61.4 13.3
.9 12.4
11.0 M
37.0
31.6 -21.7 380.0
355.8 382.2 364.5 365.5 -2.2 1.2 15.4 2.4
-26.5 106.2
15.0 -7.4 7.0 4.0 4.0 4.4
--1.0 4.0
-.8 .5
26.8 64.7 23.7 3.2
20.5
16.8
« 24.2
37.9 -11.4 369.5
362.4 371.2 374.7 375.6 -1.6
.8 -7.0 3.5
-8.8 81.6
23.5 .5
6.5 2.5
-4.3 7.0 9.8 -.3 1.7
.1 1.5
26.4 30.1 27.6 6.5
21.1
15.5 K
-13.0
40 41 42
'*3 u4 *5 -.6 47 48
49 50 51 52 53 54
55 5o 57 58 59
121.3 48.2
-75.5
123.7 -.9 79.4 15.6 4.1 2.3
23.4 -.1 17.0
. 1 4.4 1.9
5.9 19.9 47.3 45.4 1.9
156.8 55.1
-129.5
184.6 .1
102.9 11.1 32.8 11.9
25.8 1.3
14.5 -1.0
« 11.0
.9 43.1 57.6 51.9 5.7
132.7 35.4
-124.2
159.5 -1.1 73.7 6.5 33.1 20.4
26.9 -1.1 12.2 -.4 3.2 13.0
-.2 27.8 69.7 72.3 -2.7
90.3 16.4
-63.0
79.4 -.3 49.7
.1 1.4 9.7
18.7 -4.0 16.7 -.8
-6.6 13.4
3.8 31.1 39.1 51.2
-12.2
61 62 63
64 65 66
67 68 69
70 71
41.6 94.0 14.6
42.8 95.1 35.0
30.9 -19.4 50.3
373.5 369.0
18.4 106.8 28.8
40.5 96.7 48.8
22.0 -27.0 49.0
405.3 403.8
-1.0 111.4 19.2
41.8 100.6 41.7
15.4 -21.7 37.0
403.9 370.1
-4.7 108.1 19.1
41.9 100.5 21.4
-7.0 -11.4
4.3
382.5 343.0
9 . 7 3 2 4 . 3 3 5 9 . 8
2 9 . 6 - 1 4 . 5 3 7 4 . 9
367 .2 378 .2 360 .7 363 .7 -4.6 1.6 15.2
-11. 87.
-11.4 -13.0
4.2 2.4
-2.6 12.4 -9.0
-5.8
-7 1
53 51 7 8
-1
83.1 -1.7 87.4 -12.0 -4.6 -6.9
20.8 -2.3 8.6 1.0 4.6 9.0
8.4 21.4 64.4 66.8 -2.4
7.7
5.3 323.7 343.8
38.2 -11.4 370.6
348.6 362.7 376.0 375.8 -1.3 1.5
-16.2 2.8
-14.1 105.9
8.4 7.0 6.0
-14.3 -8.9 19.1 -4.0 9.0
1.0 1.4
32.0 49.4 34.9 9.9
25.0
18.0
98.1 120.1 3.8 42.2
-79.3 -69.0
30.2 -4.3
69.6
15.7 -1.5 4.6 .3
-5.5 17.8
-10.5 15.6 72.8 84.4 -11.6
22.0
232.1 97.1 112.0 23.0
1.2 325.6 349.8
25.4 -.5
374.7
356.3 384.4 367.6 367.8 -.7 .6
12.4 4.4
1 4
-28 114
6 4 0 0 8 8
9.2 -1.0 11.2
1.9 1.6
32.3 36.1 14.1 -9.5 23.5
16.0
142.5 53.3
-48.0
1.3 68.8 5.8 9.9
-6.2
21.7 -5.1 26.3
.3 -12.8 13.0
17.3 27.3 44.7 50.0 -5.3
18.5
239.1 99.9 115.2 23.8
-3.6 330.8 351.0
35.2 -19.8 366.4
386. 391, 382, 382
-4 113,
2.8 4.8 5.0 4.0 2.9 3.6 2.4 3.0 2.8
8.1 2.0 39.8 40.9 71.0 47.9 23.1
14.0
118.0 10.8
-74.0
101.3 84.8 -1.0 32.8 4.6
-7.0 17.3
38.1 -3.6 22.4
-8.1 27.6
6.4 60.9 40.0 46.8 -6.8
-20.2
217.2 91.8 124.6
.8
-5.9 332.4 327.3
52.6 -13.8 366.1
358.2 346.5 373.2 376.7 -4.0
.5 -30.8
4.2
11.6 -7.7
6.2 -7.9 1.0 2.0
-8.3 20.6 8.4 1.0
-10.6
-10.4 1.0 1.5
-5.9 -9.6
12.9
14.0
-44.2 -10.4
-19.3 -40.8 -61.0
20.2 .5
67.1 -5.6
.7 -41.7
-.8 -6.0 13.6 -3.5 -.1 -4.7
1.9 20.7 -1.2 23.7
-24.9
7.9
190.7 199.0 Profits before tax (book) 78.2 82.1 - Profit tax accruals 115.8 113.5 - Dividends -3.4 3.3 = U.S. undistributed profits
-8.4 -5.0 • Capital consumption adj. 337.2 338.6 • Depreciation charges, NIPA 325.4 336.9 = U.S. internal funds- book
44.0 34.7 • Fgn. earnings ret. abroad 8.1 4.1 • Inv. valuation adaustment
377.5 375.7 = Total internal funds • IVA
374.3 369.9 Gross investment 317.0 333.0 Capital expenditures (1) 350.1 354.8 -5.0
.3 -35.3
2.3
57.3 134.3
26.8 1.7 6.5 4.0 3.6
-26.6 21.1 5.4 11.1
3.2 1.5 9.6
93.3 54.8 24.3 30.5
12.8 2.0
23.7
77.1 34.0
-12.0
46.0 -1.2 80.6 -2.1 -4.1 5.1
-32.3 -3.0
.1
.3 -13.1 -16.7
4.8 19.1 19.2
357.2 355.1
.8 1.3
-27.2 3.0
36.8 92.3
31.5 -22.8
4.0 2.0 4.2 26.5 8.3 5.0 4.3
-2.1 2.0 17.6 43.3 18.2 -7.0 25.2
Fixed investment Plant and equipment Home construction Multifamily residential
Inventory change + IVA Mineral rts. from U.S. govt.
3 4
5 6 7
8 9 10
13 14 15 16 17 18
Net financial investment 19 Net acq. of financial assets 20
Liquid assets 21 Checkable dep. and curr. 22 Time deposits 23 Money mkt. fund shares 24 Security RPs 25 Foreign deposits 26 U.S. govt, securities 27 Tax-exempt obligations 28 Commercial paper 29
Consumer credit 30 Mutual fund shares 31 Trade credit 32 Miscellaneous assets 33
Foreign dir.invest.(2-4) 34 Equity, etc. 35 Retained earnings 36
12.8 .5
11.8
55.5 20.5 11.0
9.5 1.1
95.3 -2.7
-53.1 -22.6
-8, -3, 13,
-1 -17
Insurance receivables 37 Equity in sponsored ags. 38 Other 39
Net increase in liabilities 40 Net funds raised in mkts. 41
Net new equity issues 42
Debt instruments 43 Tax-exempt debt (3) 44 Corporate bonds (2) 45 Mortgages 46 Bank loans n.e.c. 47 Commercial paper 48
Other loans 49 SavmgsSloan assns. 50 Finance companies 51 U.S. government 52 Accept.liab.to banks 53 Foreign 54
-19.3
5.8 Discrepancy
Profit taxes payable Trade debt Fgn.dir.invest.in U.S.(4)
Equity, etc. Retained earnings
55 56 57 58 59
60
Memorandum items: 31.9 16.4 5.0 -21.0 -19.3 -9.6 5.3 Trade credit net of trade debt 61 104.4 101.1 119.0 97.0 115.4 102.3 107.2 Profits tax payments 62 27.3 14.7 23.6 22.4 15.5 24.3 24.9 Earnings rec. from abroad 63
Percent ratios: 42.6 41.7 41.8 41.8 42.2 41.0 41.3 Effective tax rate 64 100.9 97.9 102.6 106.7 94.7 84.0 88.7 Capital outlays/internal funds 65
66 2.9 Cr. mkt. borrowing/cap. exp.
15.2 -14.5 29.7
392.7 359.8
-16.2 -11.4 -4.8
374.1 343.8
30.3
12.4 -.5 12.9
384.9 349.8
35.0
6.5 -30.8 -35.3 -19.8 -13.8 8.1 26.3 -17.0 -43.4
(1) Capital outlays on book basis: -27.2 Inventory change- NIPA 67
4.1 Less: Inv. val. adjustment 68 -31.3 = Inventory change before IVA 69
410.9 351.0
59.8
360.3 308.9 328.9 Total cap. expend, before IVA 70 327.3 325.4 336.9 Less: US internal funds- book 71
= Financing gap: Excess of capital expenditures 33.1 -16.5 -7.9 over U.S. internal funds 72
(2) Corporate bonds include net issues by Netherlands Antilles subsidiaries; U.S. direct investment abroad is before subtracting net inflows of capital from Netherlands Antilles subsidiaries to U.S. parents.
(3) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.
(4) Direct investment totals and retained earnings exclude capital gains/losses included in balance of payments statistics.
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 State and Local Governments
12 UNADJUSTED NET FLOWS, $ MILLIONS
Sector Statements of Saving and Investment
State and Local Governments
UNADJUSTED NET FLOWS, $ MILLIONS
I 1989 I I IV I I
1990 I 1991 II III IV I I II
ANNUAL, FLOWS, $ BILUONS 1983 1984 1985 1986
State and Local Governments - General Funds CI)
1 Total receipts, NIPA basis 2 Tax receipts 3 Social insurance receipts 4 Grants-in-aid received
200,345 197.972 196,237 192,327 213,914 209,830 209,405 154-478 151,213 149,262 144-849 163-476 ^58,373 156,906 14-525 14,750 14,975 15,175 15,350 15,525 15,700 31,342 32,009 32,000 32,303 35,088 35,932 36,799
5 Total expenditures, NIPA basis 181,932 179,614 189,041 197-978 198,467 192,144 202,227 6 Purely of goods and services 160-939 158,927 166,879 174-451 173,868 168,073 176.262 7 Net interest and transfers 20,993 20,687 22,162 23,527 24,599 24,071 25,965
8 Net surplus- NIPA basis 9 - Retirement credit to HH 10 = Gross savin9
11 Net financial investment 12 Net acq, of financial assets 13 Checkable dep. and curr. 14 Time deposits 15 Security RPs
16 Credit market instruments 17 U.S. 9ovt. securities 18 Treasury Issues 19 Agency issues 20 Tax-exempt obligations 21 Mortgages
22 Profit taxes receivable 23 Other taxes receivable
24 Net increase in liabilities 25 Credit market borrowing 26 Tax-exempt obligations 27 Short-term 28 Other 29 U.S. government loans
30 Trade debt 31 Discrepancy
18.413 19,000 -587
-6,749 -1,841 2,925 1,843
-7,018
-920 -4,832 -1,667 -3.165
551 3,361
929 400
4,908 4-194 4,225 478
3,747 -31
714 6.162
18,358 15,000 3,358
-2,977 -347
-3,346 -154
-4,000
7,490 6.187
-2,000 8,187 341 962
-737 400
2,630 1,888 1.638
-2,596 4,234 250
742 6.335
7.196 16.200 -9,004
-4,228 -285 1,851
-4,698 4,297
-2.250 -4,311 -4,000
-311 641
1,420
115 400
3.943 3,176 3,026 161
2,865 150
767 -4,776
-5,651 18,500
-24,151
-12-204 -1,254 -1,142 -4,911 -4,790
9,399 6,796
-1,606 8,402 1,041 1,562
-210 400
10,950 10,156 9,756 6,863 2,893 400
794 -11,947
15,447 16,250 -803
-8,802 -6,074 1,663 -936
-5,727
-1,494 -3,947
-250 -3,697
525 1,928
20 400
2,728 1,978 1,900 655
1,245 78
750 7,999
17-686 15,250 2.436
-4,861 -2,937 -3,012 1,814
-10,445
8,458 9,600
-1,073 10,673
696 -1,838
-152 400
1.924 1.139 1.087
-1.564 2.651
52
785 7.297
7,178 17,591
-10.415
-7.685 -4,790 3,806
-6,294 -2,012
-591 -1,679 -3,700 2,021 125 965
-99 400
2,895 2.645 2,545
-1,127 3.672 100
250 -2,728
487.6 362.9 38.5 86.2
440.2 391,5 48.7
47.4 39.2 8.2
4.0 28.3 -,7 -6.5 16.9
17 9,
n - l
-1.5 1,8
24.4 25.6 22,5 -*,5 24.0 1.1
540,4 406.7 40.2 95.5
475.9 425.4 50,6
64,5 45.7 18.8
7.5 56.4 5.0 • 2
9,4
18,9 7.6 8.7 -1.1 1.1
10.2
J, 1.
29, 28, 20, ^5, 24, 7.
1,0 11.5
581,8 458.9 45.* 99.7
516.7 465.6 51.1
65,1 53,1 *2.0
14.4 106,5 1.1 7,0 8.2
87.3 78.7 57.2 21.5 -1.2 9.8
-.7 5.4
91.9 90.9 82.7
81,4 8,2
1,1 -2,4
626,2 472.4 47.1 106.8
563 505 57
62 57 5
8,0 11 45.8 12 3,5 13
-4.6 14 8,0 15
35.9 16 24.4 17 7.9 18 16.5 19 -,5 20 11.8 21
1,5 22 1,7 25
37.8 56.2 54,8 4.2 30.6 1.4
2.9 51
(1) Employee retirement funds are in insurance sector.
LATEST QUARTER BASED ON INCOMPLETE INFORMATION,
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 State and Local Governments
SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS. $ BILLIONS 1987 1988 1989 1990
State and Local Governments
Sector Statements of Savins and Investment 13 SEASONALLY ADJUSTED ANNUAL RATES
I 1«89 I I IV I
1990 I 1991 II III IV I I II
State and Local Governments - General Funds (1)
1 2 3 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
655.2 503.4 49.3 102.6
604.2 540.2 b4.0
5i.O 54.7 -3.7
-7.8 43.0
.8
.8 20.7
18.7 9.6
25.1 -15.6
.5 8.7
.4 1.6
50.8 48.8 51.2 6.2
44.9 -2.4
2.0 4.1
697.6 533.8 52.7 111.1
651.2 582.3 68.9
46.4 64.9
-18.5
-18.6 29.3 2.0
-4.0 24.7
4.2 -1.4 25.6
-27.0 1.6 4.0
.8 1.6
47.8 45.6 48.9 9.9
39.0 -3.3
2.2 .1
749.8 575.0 56.7 118.2
703.5 625.6 77.9
46.4 72.1
-25.7
-21.1 11.2 -.6 -.4 10.9
-1.1 -11.9
4.4 -16.3
2.0 8.8
.8 1.6
32.3 29.6 29.9 -.3 30.2 -.2
2.7 -4.6
800.5 608.8 60.3 131.4
765.1 674.1 91.0
35.4 66.0
-30.6
-28.2 -8.0 -1.0
-10.7 -10.2
13.1 4.7
-7.9 12.6 2.5 5.9
-.8 1.6
20.3 17.2 16.3 5.1 11.2
.9
3.1 -2.4
764.5 584.9 58.1 121.5
726.0 643.4 82.6
38.5 72.4
-33.9
-23.3 -4.0 1.2 6.2
-16.6
.1 -15.5 -3.4
13^4
3.5 1.6
783.5 596.0 59.0 128.5
745.6 659.6 86.0
37.9 64.2
-26.3
-24.2 -5.3 3.2
-16.8 -20.4
29.8 24.6 -9.3 33.9 1.4 3.8
-2.7 1.6
792.2 600.8 59.9 131.5
753.7 664.6 89.1
38.5 63.2
-24.7
-19.6 .7
-5.1 -4.1 20.0
-12.4 -20.7 -19.6 -1.1 2.6 5.7
.6 1.6
20.3 17.2 16.6 5.1 11.5
.6
3.1 -5.1
808.7 618.2 60.7 129.8
769.3 677.0 92.3
39.4 75.1
-35.7
-37.6 -6.3 1.7
-17.4 -28.7
37.5 27.1 -5.0 32.0 4.2 6.2
-1 .0 1.6
31.3 28.1 26.5 14.9 11.6 1.6
3.2 1.8
817.4 620.2 61.4 135.8
791.8 695.3 96.5
25.6 61.4
-35.8
-31.5 -20.9 -3.7 -4.5
-11.8
-2.3 -12.1
2.4 -14.5
2.1 7.7
1.6
10.6 7.6 7.2 2.3 5.0 .3
3.0 -4.3
827.9 622.1 62.1 143.7
797.8 697,7 100.1
30.1 65.3
-35.2
-31.1 -15.8
4.9 -10.2 -46.0
34.2 38.7 -6.2 44.9 2.8
-7.4
-.3 1.6
845.6 Total receipts, NIPA basis 1 631.8 Tax receipts 2 62.8 Social insurance receipts 3 151.0 Grants-in-aid received 4
806.5 Total expenditures. NIPA basis 5 701.8 Purch. of goods and services 6 104.7 Net interest and transfers 7
39.1 Net surplus, NIPA basis 8 68.6 - Retirement credit to HH 9
-29.5 = Gross saving 10
-35.0 Net financial investment 11 -17.2 Net acq. of financial assets 12
3.0 Checkable dep. and curr. 13 -9.9 Time deposits 14 -5.4 Security RPs 15
3.1 -4.2
-6.4 Credit market instruments -10.7 U.S. govt, securities -18.2 Treasury issues 7.5 Agency issues .5 Tax-exempt obligations
3.9 Mortgages
-.2 Profit taxes receivable 1.6 Other taxes receivable
17.8 Net increase in liabilities 16.8 Credit market borrowing 16.4 Tax-exempt obligations 1.7 Short-term
14.7 Other .4 U.S. government loans
1.0 Trade debt 5.5 Discrepancy
16 17 18 19 20 21
24 25 26 27
30 31
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
(1) Employee retirement funds are in insurance sector.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991
U.S. Government and Credit Agencies
14 UNADJUSTED NET FLOWS, $ MILLIONS
Sector Statements of Saving and Investment
U.S. Government and Credit Agencies
UNADJUSTED NET FLOWS. $ MILLIONS
I 1989 I I IV I
1990 I II III IV I
1991 I II
U.S. Government
ANNUAL FLOWS, $ BILLIONS 1983 1984 1985 1986
1 Total receipts. NIPA basis 2 Personal taxes 3 Corp. profits tax accruals 4 Indirect taxes 5 Social insurance receipts
236,310 266-552 316-974 274,053 252,121 279,187 332,262 108,384 104,633 146,112 122,267 119,788 110-049 152-736 24,359 24,844 28,585 30,171 24,925 21-910 25,962 14,119 15,183 16,522 14,440 15,530 18,252 19-696 89,448 121,892 125.755 107.175 91.878 128,976 133,868
6 Total expenditures, NIPA basis 302-811 312,721 320,683 314,591 327,830 316-247 335,363 7 Goods and services 103,994 103,149 105,363 103,221 112,242 111,695 113,234 8 Transfers, etc. 154-705 164,873 169,288 164-372 167,017 155,754 173,093 9 Net interest 44,112 44,699 46,032 46,998 48,571 48.798 49.036
10 Net surplus, NIPA basis 11 - Insurance credits to HH 12 = Gross saving 13 • Mineral rights sales (1) 14 s Nonfinancial surplus
15 Net financial investment 16 Net acq. of financial assets 17 Gold, SDKs S fgn. exch. 18 Checkable dep. 8 currency 19 Time deposits
20 Credit market instruments 21 Fed. agency securities 22 Mortgages 23 Other loans
24 Taxes receivable 25 Trade credit 26 Miscellaneous
27 Net increase in liabilities 28 Treasury curr: £ SDR ctfs.
29 Credit market instruments 30 Savings bonds 31 Other Treasury issues 32 Agency issues and mtgs.
33 Life & retirement reserves 34 Trade debt 35 Miscellaneous
36 Discrepancy Memo: 37 Corp. tax receipts, net
-66,501 -46,169 5-788 -4,455
-72,289 -41,714 574 710
-71-715 -41,004
-82,472 -56,044 -13,182 3,874
1,711 1.597 -12,116 -12,269
106 148
-3,709 5,364
-9,073 1,094
-7,979
-17,522 16-573 -331
16,128 -74
-40,538 15,436
-55,974 626
-55,348
-49,311
-1,051 4,851
124
-75.709 5,681
-81,390 1,053
-80,337
-94,426 -13-401
598 -3,870
-56
-37,060 -4,623 -32,437
568 -31,869
-58,845 11-498
391 5,237 -97
-3,101 6,652
-9,753 762
-8-991
-35,741 4,965
454 5,676
241
-19 10,108 10,250 15,299 -2,052 8,275
95 -114
-3,084
220
7,360 2,748
2,392 1,500 398
69,290 59,918
63,300 2,019
64,487 2,156
62,426 54,937 -1,145 7,394
5-788 -4,455 1,352
-1,287 -752 488
10,757 15,040
27,443 22,452
10 ,743 - 4 9 3
•10,441 750 291
34,095 161
40,848 1,985
37,523 1,340
5,364 1,981
•14,259
9,543
39,026
13,640 1,659
3,262 -750 484
71,530 99
68,448 2-043 66,736 -331
15,436 -508
-11,945
-6,037
26,909
3,832 -5,884
-6,181 -2,000
160
81,025 1,626
98,741 2,304 96,690 -253
5,681 -858
-24,165
14,089
31,106
9,659 -1,384
-2,772 125 339
70,343 119
55,807 3-493
58,313 -5,999
-4,623 1,851
17,189
9,279
8,670 609
-11,256
571
40,706 112
42,961 3-472
41,040 -1,551
6,652 2,736
-11-755
26,750
37,218
659.9 294.4 61.4 51.6 252.5
836.0 283.6 458.2 94.3
•176.1 14.2
-190.3 7.8
-182.5
-192.6 13.6 2.9
-8.3 -.5
9.7
-1.2 8.4
5.3 3.8 .7
206.2 .5
186.6 3.1
183.5 -.1
14.2 3.0 2.0
10.1
56.1
726.0 310.3 75.3 55.7 284.7
895.5 310.5 469.4 115.6
-169.5 18.2
-187.7 7.9
-179.8
-193.1 32.6 2.6 5.3 .5
17.1
-.5 16.6
.6 5.1 1.5
225.7 .6
198.8 3.0
195.9 -.2
18.2 3.3 4.9
13.3
74.7
788.7 346.5 76.3 55.1 310.9
985.6 355.2 500.3 130.2
-196.9 19.1
-216.0 4.4
-211.6
-214.8 33.7 1.9
13.0 K
17.8
-1.8 15.9
-4.1 3.7 1.4
248.5 .5
223.6 5.3
218.5 -.1
19.1 4.7 .6
3.2
80.4
827.9 1 361.5 2 83.9 3 50.5 4 332.1 5
1034.8 6 366.5 7 532.7 8 135.6 9
-206.9 10 21.1 11
-227.9 12 7.2 13
-220.8 14
-242.3 15 7.5 16 -.7 17 .4 18 .2 19
9.7 20 - 21 .5 22
9.2 23
-.2 24 -2.3 25
.5 26
249.8 27 .8 28
215.0 29 13.6 30
201.1 31 .4 32
21.1 33 9.8 34 3.2 35
21.5 36
84.0 37
(1) Sales of Outer Continental Shelf leases.
Federally Sponsored Credit Agencies and Mortgage Pools
Sponsored credit agencies (1)
1 Gross saving 2 Fixed nonres. investment
3 Net acq. of financial assets 4 Checkable dep. and currency 5 Fed. funds 8 security RPs
6 Credit market instruments 7 U.S. government securities 8 Open-market paper 9 Student loans (SLMA)
10 Housing credit 11 Residential mortgages 12 FHLB loans to thrifts
13 Loans to agriculture 14 Farm mortgages 15 Loans to coops (BC) 16 Loans to farmers (FICB) 17 Miscellaneous assets
18 Net increase in liabilities 19 Credit market instruments 20 Sponsored agency issues 21 U.S. government loans 22 Miscellaneous liabilities
23 Discrepancy
991 858
3,884 -878 3,072
1,885 3,291 1,854 1,803
•5,054 4,259 •9,313
-9 -692
•1,037 1,720 -195
4,415 2,898 2,898
-1,517
664
1,053 901
-2,380 -229
-2.098
2,504 7,497 -224 1,172
-5,556 3,389
-8,945
-385 -302 -63 -20
-2,557
-1,467 1,525 1,525
--2,992
1,065
1,122 951
3,514 179
1,813
1,102 9,731 -712 1,210
-9-153 -2-596 -6,557
26 -274 200 100 420
3,920 2,904 2,904
-1,016
577
1,187 992
17 -122
-9,085
11,170 17,326
-69 884
-6,992 1,417
-8,409
21 -179 100 100
-1,946
607 3,436 3-436
--2,829
785
1,255 1.041
18,301 -3
16,268
1,627 -4,313 1.519 874
3,545 4,332 -787
2 -98
-100 409
18,549 9,164 9,284 -120 9,385
462
1,321 1,084
3,961 -154 4,429
825 10,752 -2,451
160
-7,227 2,868
-10,095
-409 -209 -300 100
-1,139
4-403 3,278 3,278
-1,125
679
1,338 1,131
-2,025 -101 -660
-4-071 2,267 -108 758
-8,399 3,863
-12,262
1,411 -218 750 879
2,807
-1,327 -7,421 -7,421
-6,094
905
1.9 1.4
2.0 .2
•2.3
3.4 •1.3 .4
1.5
2.2 9.3 7.0
.6 1.1 .9
1.3 .7
1.2 1.4 1.4
--•2
-.3
2.0 1.5
40.9 .6
8.3
29.8 1.6 -.1 1.9
27.7 12.1 15.7
-1.4 .3
-.4 -1.2 2.1
40.7 30.4 30.4
-10.2
.4
1.3 1.9
28.2 .8
7.2
23.7 3.3 -.6 2.5
27.9 13.7 14.2
-9.4 -4.5 -1.0 -3.9 -3.5
30.6 21.7 20.6 1.1 8.9
1.8
1.0 1 1.9 2
22.0 3 1.5 4 5.0 5
14.1 6 4.6 7
* 8 2.4 9
16.6 10 -3.2 11 19.8 12
-9.6 13 -6.5 14 -.7 15
-2.3 16 1.4 17
23.2 18 14.9 19 15.2 20 -.4 21 8.3 22
.3 23
Federally related mortgage pools (2)
24 Net acq. of mortgages 25 Home mortgages 26 Multifamily mortgages 27 Farm mortgages
28 Net incr. in pool securities
42,843 42-406
439
35,616 34,519 1,099
39,033 38,700
334 -1
34,335 34,526 -190
-1
41,338 39,537 1,804
-3
30,526 30,093
435 -2
,40-258 39,756
526 -24
42,843 35,616 39,033 34,335 41.338 30,526 40,258
66.4 65.2 1.2
if
44.4 43.4 1.1
*
79.9 78.6 1.5 -.2
139.2 24 134.3 25 5.1 26 -.2 27
79.9 139.2 28
Memo: Totals for agencies and pools 29 Housing credit 37,791 30,062 29,881 27,344 44,886 23,301 31,883 30 Loans to agriculture -11 -387 25 20 -1 -411 1,387
31 Net security issues 45,741 37,141 41,937 37,771 50,622 33,804 32,837
68.7 .6
67.8
72.2 -1.4
74.9
107.9 -9.6
100.5
156.1 29 -9.8 30
154.5 31
(1) Sponsored agencies include: Federal Home Loan Banks, Federal National Mortgage Assn.,Federal Home Loan Mortage Corp.,Student Loan Marketing Assn., Federal Land Banks- Federal Intermediate Credit Banks-Banks for Cooperatives, the Financing Corp., and the Resolution Funding Corporation.
(2) GNMA, FNMA, FHLMC, and Farmers Home Administration pools. Excludes Federal Financing Bank holdings of pool securities, which are included with U.S. government mortgages and other loans.
LATEST QUARTER BASED ON INCOMPLETE INFORMATION. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1991 U.S. Government and Credit Agencies
SEASONALLY ADJUSTED ANNUAL RATES
Sector Statements of Saving and Investment
U.S. Government and Credit Agencies
15 SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS, $ BILLIONS 1987 1988 1989 1990
I 1989 I I IV I I
1990 I 1991 II III IV I I II
U.S. Government
1 2 3 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
33 34 35
36
37
913 .8 4 0 5 . 8 103 .2 5 4 . 0
3 5 0 . 9
1072 .0 3 8 1 . 3 5 4 8 . 4 142 .3
- 1 5 8 . 1 19 .2
- 1 7 7 . 3 2 . 9
- 1 7 4 . 4
- 1 7 0 . 7 - 1 3 . 2
- 5 . 4 - 8 . 1
^2
- 7 . 9
-- 5 . 3 - 2 . 6
- 1 . 8 8 . 3 1.3
157 .5 .5
144 .9 7 .8
135 .6 1.5
19 .2 2 . 3
- 9 . 4
- 3 . 7
105 .0
9 7 2 . 5 4 1 5 . 1 110.6 5 7 . 0
389 .9
1114 .2 3 8 0 . 3 5 8 2 . 6 151 .3
- 1 4 1 . 7 2 0 . 0
- 1 6 1 . 6 3 . 3
- 1 5 8 . 3
- 1 9 1 . 7 - 2 . 1
1.4 9 .0 - . 2
- 9 . 4
-- 1 . 1 - 8 . 4
- 5 . 1 . 2
2 . 1
189.6 .5
157 .5 8 . 5
131.6 17 .4
2 0 . 0 2 . 0 9 .6
3 3 . 4
115.7
1052.9 4 6 4 . 0 110 .5 5 8 . 4
4 2 0 . 1
1187.1 4 0 0 . 0 615 .1 172 .0
- 1 3 4 . 2 2 1 . 2
- 1 5 5 . 4 2 . 4
- 1 5 3 . 0
- 1 9 3 . 0 - 1 0 . 5
12 .7 - 1 4 . 2
- . 1
- 2 . 4
-- . 8 - 1 . 7
- 1 0 . 4 3 . 0 1.0
182.6 4 .1
151.6 8 . 2
141.8 1.6
2 1 . 2 3 .9 1.8
4 0 . 0
120 .9
1109.7 4 9 2 . 8 108 .5
6 1 . 7 4 4 6 . 7
1275.8 4 2 4 . 0 665 .6 186 .3
- 1 6 6 . 1 2 2 . 0
- 1 8 8 . 2 3 . 5
- 1 8 4 . 7
- 2 1 7 . 3 2 9 . 3
.8 4 . 8
. ]
33 .6
-35 .6 - 2 . 0
- 1 1 . 0 - . 5 1.3
2 4 6 . 6 2 . 0
2 7 2 . 5 8 . 5
2 5 5 . 9 8 . 2
2 2 . 0 - . 1
- 4 9 . 9
3 2 . 6
119 .5
1055.8 4 6 9 . 6 101 .4
5 8 . 7 4 2 6 . 1
1205.8 399 .9 630 .7 175 .2
- 1 5 0 . 0 2 1 . 4
- 1 7 1 . 4 2 . 3
- 1 6 9 . 1
- 2 4 5 . 0 - 7 . 4
6 .8 - 9 . 6
.4
1080.7 4 7 3 . 6 106 .6
60 . 6 4 3 9 . 9
1248.9 4 1 0 . 6 660 .2 178.1
- 1 6 8 .2 18 .8
- 1 8 7 . 0 2 . 8
- 1 8 4 . 2
- 2 0 4 . 4 5 9 . 5
6 .4 9 .9
.6
1105.8 4 9 2 . 1 109 .2
6 0 . 5 4 4 4 . 0
1271 .9 4 2 1 . 9 665 .7 184 .3
- 1 6 6 . 1 2 0 . 7
- 1 8 6 . 8 4 . 4
- 1 8 2 . 4
- 1 8 3 . 0 - 5 . 6 - 1 . 3
- 2 2 . 3 - . 3
1125 .8 5 0 0 . 0 114 .2
6 1 . 0 4 5 0 . 6
1271.7 4 2 5 . 8 656 .1 189 .8
- 1 4 5 . 9 2 8 . 1
- 1 7 4 . 0 2 . 5
- 1 7 1 . 5
- 1 8 5 . 4 73 .1 - 4 . 2 10 .3
.5
1126 .5 5 0 5 . 5 104 .1
64 . 6 4 5 2 . 3
1310.8 4 3 7 . 6 680 .2 193 .0
- 1 8 4 . 3 2 0 . 5
- 2 0 4 . 8 4 . 2
- 2 0 0 . 6
- 2 9 6 . 4 - 9 . 9
2 . 4 2 1 . 4
- . 2
1134 .5 5 0 1 . 3
9 5 . 0 72 .7
4 6 5 . 5
1261.4 4 4 3 . 8 6 2 3 . 3 194 .3
- 1 2 6 . 9 19 .2
- 1 4 6 . 1 2 . 3
- 1 4 3 . 8
- 2 0 7 . 3 9 4 . 0
1.6 8 4 . 8
- . 4
5.7
M
5 . 7
- 1 1 . 6
.9 2 3 7 . 6
.5
185 .0 7 .5
182.1 - 4 . 6
2 1 . 4 14 .5 16.1
7 5 . 9
113.0
29.3 8.4
- 2 . 6 6 . 0 1.6
2 6 3 . 9 .6
2 4 7 . 3 6 .7
2 1 1 . 0 2 9 . 6
18 .8 - 3 . 4
.6
43.5 - 7 . 3
- 2 2 . 0 3 . 0 1.2
177 .4 .6
228.2 8.9
2 1 4 . 0 5 . 4
20.7 - . 8
- 7 1 . 3
.6
131.2
Sales of
54.5 8.7
4 . 3 - 3 . 0
1.9
258.5 .4
286.1 9.7
277.8 - 1 . 3
28.1 - 2 . 9
- 53 .3
15 .0 - 1 7 . 7
- 23 .5 - 8 . 0
.6
286.5 6.5
328.4 8.7
320.7 - 1 . 0
2 0 . 5 6 .5
- 7 5 . 5
38.4 - 8 . 1
- 2 4 . 1 .5
1.4
3 0 1 . 3 .5
2 0 4 . 7 11 .7
2 1 7 . 0 - 2 4 . 0
19 .2 7 .1
6 9 . 9
1139.0 Total receipts. NIPA basis 1 499.5 Personal taxes 2 98.6 Corp. profits tax accruals 3 71.9 Indirect taxes 4
469.0 Social insurance receipts 5
1324.0 Total expenditures- NIPA basis 6 451.1 Goods and services 7 676.4 Transfers, etc. 8 196.5 Net interest 9
-185.0 Net surplus- NIPA basis 10 24.8 - Insurance credits to HH 11
-209.8 = Gross saving 12 3.0 • Mineral rights sales (1) 13
-206.8 = Nonfinancial surplus 14
-264.1 Net financial investment 15 -58.5 Net acq. of financial assets 16
1.8 Gold- SDRs 8 fgn. exch. 17 -70.8 Checkable dep. 8 currency 18
1.0 Time deposits 19
32 .1
35.2 - 3 . 2
-24 .8
2.3
2 0 5 . 6 .4
241.8 14.8
233 .1 - 6 . 2
24.8 1.6
- 6 3 . 0
Credit market instruments 20 Fed. agency securities 21 Mortgages 22 Other loans 23
Taxes receivable Trade credit Miscellaneous
Net increase in liabilities Treasury curr. 8 SDR ctfs.
Credit market instruments Savings bonds Other Treasury issues Agency issues and mtgs.
Life 8 retirement reserves Trade debt Miscellaneous
13.9 95.8 63.4
109.9 127.6 119.1
Outer Continental Shelf leases.
57.3 Discrepancy Memo:
123.4 Corp. tax receipts- net
24 25 26
27 28
29 30 31 32
33 34 35
36
37
Federally Sponsored Credit Agencies and Mortgage Pools
Sponsored credit agencies (1)
1 2
3 4 5
6 7 8 9
10 11 12
13 14 15 16 17
18 19 20 21 22
2 . 2 1.8
2 7 . 1 - . 1
- 4 . 2
2 7 . 0 4 . 8
X
3 .7
2 4 . 2 _ ^2
2 4 . 4
- 5 . 6 - 4 . 8
.8 - 1 . 6
4 . 3
2 7 . 4 2 9 . 5 3 0 . 2
- . 8 - 2 . 1
2 . 8 2 . 2
4 5 . 9 K
6 .6
3 7 . 1 5 . 9
.4 2 . 8
3 0 . 5 10 .8 19 .7
- 2 . 6 - 1 . 9
1.6 - 2 . 3
2 . 3
4 6 . 0 4 4 . 9 4 4 . 9
-1.1
4 . 1 3 .1
2 9 . 7 - 1 . 3 2 8 . 0
- . 5 - 7 . 4
2 . 9 3 .4
.5 11 .5
- 1 1 . 0
.1 - 1 . 8
* 1.9 3 . 5
31 .7 2 5 . 2 2 5 . 2
-6 .5
4 . 6 3 . 9
19 .5 - .2 6 .9
16 .4 3 0 . 2
.5 4 . 1
- 1 8 . 2 6 .5
- 2 4 . 7
- . 3 - . 9
#2 . 3
- 3 . 7
2 1 . 6 17 .0 17 .1 - . 1 4 . 6
4.0 4.2 4.5 4.7 5.0 5.3 5.4 Gross saving 1 3.4 3.6 3.8 4.0 4.2 4.3 4.5 Fixed nonres. investment 2
.7 -9.1 28.5 2.3 56.1 13.5 9.2 Net acq. of financial assets 3 -5.6 2.9 -2.3 .3 -1.7 3.9 -4.6 Checkable dep. and currency 4 12.3 -8.4 7.3 -36.3 65.1 17.7 -2.6 Fed. funds 8 security RPs 5
-2.7 25.4 -3.8 48.7 -4.8 17.5 -24.0 Credit market instruments 6 13.4 29.8 38.7 69.5 -17.0 42.8 8.8 U.S. government securities 7 7.2 -.7 -2.6 -.4 5.8 -9.6 -.2 Open-market paper 8 7.2 4.7 4.8 3.5 3.5 .6 3.0 Student loans (SLMA) 9
-31.9 -8.5 -41.1 -24.8 1.8 -16.7 -37.3 Housing credit 10 16.9 13.5 -10.2 5.7 17.3 11.3 15.6 Residential mortgages 11
-48.8 -22.0 -30.9 -30.5 -15.5 -27.9 -52.9 FHLB loans to thrifts 12
1.4 .1 -3.6 1.0 1.1 .3 1.7 Loans to agriculture 13 -2.6 -1.1 -1.2 -.7 -.3 -.6 -1.0 Farm mortgages 14 -3.7 -1.3 .5 1.1 .7 -2.2 2.4 Loans to coops (BO 15 7.8 2.5 -2.8 .6 .8 3.1 .3 Loans to farmers (FICB) 16
-3.2 -29.0 27.3 -10.5 -2.5 -25.6 40.4 Miscellaneous assets 17
2.3 -3.8 30.8 2.8 56.7 17.1 12.7 Net increase in liabilities 18 -4.7 9.7 17.1 22.3 19.0 14.5 -22.4 Credit market instruments 19 -4.7 9.7 17.1 22.3 19.5 14.5 -22.4 Sponsored agency issues 20
- - - - -.5 - - U.S. government loans 21 7.0 -13.5 13.7 -19.5 37.6 2.5 35.1 Miscellaneous liabilities 22
2.0 5.8 3.0 1.3 1.4 4.5 4.3 Discrepancy 23
24 25 26 27
142 .3 137.8
4 . 5 K
7 4 . 9 69 .7
5 . 2 K
125.8 120 .2
5 . 6
*
150 .3 147 .3
3 . 0 M
29 30
166.5 105.4 -5.6 -2.6
125.8 150.3
126.2 132.2 .1 -.3
172.5 119.8 151.0 167.5
161.1 159 .3
1.8 .1
162 .0 157.6
4 . 4
-
166 .8 165 .5
1.3 K
116 .9 117 .7
- . 8
*
155.5 148 .3
7 .2 K
141 .3 139.5
1.7 M
Federally related mortgage pools (2)
173.0 Net acq. of mortgages 171.0 Home mortgages 2.1 Multifamily mortgages -.1 Farm mortgages
129.1 1.5
153 .5 .1
125.8 - 3 . 6
92 .1 1.0
157 .3 1.1
124 .6 .3
116.9 155.5 141.3 173.0 Net incr. in pool securities
Memo: Totals for agencies and pools 135.7 Housing credit
1.6 Loans to agriculture
171.7 184.0 139.2 175.0 155.8 150.6 Net secu'ity issues
(1) Sponsored agencies include: Federal Home Loan Banks* Federal National Mortgage Assn..Federal Home Loan Mortage Corp..Student Loan Marketing Assn.» Federal Land Banks. Federal Intermediate Credit Banks. Banks for Cooperatives* the Financing Corp., and the Resolution Funding Corporation.
(2) GNMA. FNMA. FHLMC and Farmers Home Administration pools. Excludes Federal Financing Bank holdings of pool securities, which are included with U.S. government mortgages and other loans.
24 25 26 27
29 30
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Forei9n sector
16 UNADJUSTED NET FLOWS, $ MILLIONS
Sector Statements of Savin9 and Investment
Fortisn sector
UNADJUSTED NET FLOWS, $ MILLIONS
1 Net U.S. exports, NIPA basis 2 U.S. export receipts 3 - U.S. import payments 4 (Memo: net corporate earnings
retained abroad)
5 - Transfers to foreign 6 - U.S. govt, interest paid 7 + Net capital grants 8 = Net foreign investment
(U.S. balance, sign reversed)
9 Net financial investment 10 Net acq. of financial assets 11 Gold and SDRs (1) 12 U.S. checkable dep. 13 U.S. time deposits 14 Net interbank claims
15 Security RPs 16 U.S. corporate equities 17 Credit market instruments 18 U.S. govt, securities 19 Official, net 20 Private, net 21 U.S. corporate bonds (2) 22 Loans to US nonbanks 23 Open-market paper
24 Security credit 25 Trade credit
26 Miscellaneous assets 27 Dir. investmt.m U.S.(3) 28 Equity, etc. 29 Retained earnings 30 Other
31 Net increase in liabilities U.S. off. fgn. exchange
32 S net IMF position 33 U.S. private deposits
34 Foreign corporate equities 35 Credit market instruments 36 Corporate bonds
37 Bank loans n.e.c. 38 To foreign official 39 To foreign banks 40 To other foreign
41 Commercial paper 42 Accept, liabs. to banks 43 U.S. government loans
44 Security debt 45 Trade debt
46 Miscellaneous liabilities 47 U.S.equity in IBRD, etc. 48 U.S. govt, deposits 49 U.S. dir. invstmt. (2,3) 50 Equity, etc. 51 Retained earnings 52 Other
1 1989 1 IV
-8.704 160,671 169,375 8,211
4,859 9-363
22,926
25,055 : 43,610
-204 160 301
6,379
2.268 -1.700 12,132 4,580
-6,773 11,353
I 5,020 2,248
284
991
23,283 i 20,437
22,144 -1,707 2,846
18-555
2-998 2,479
; 3-839 4,474
270
-1,205 -154 -182 -869
5,524 73
-188
-566
5,331 341
-121 1 1,574
2,852 -1,278 3.537
1 1 I
-2-937 164,978 167,915 9-650
3,372 9,319
15-628
3-825 5-311 -247
-1-565 940 387
-1,616 -3-288 -398
-4-768 -6-307 1-539 1-224 4-446
-1,300
805
10,293 16.883 19,350 -2-467 -6,590
1.486
2-930 -4.975
9 244
8,747
-2,421 -44
-1,593 -784
-3-730 -2,654
302
-765
4,043 324 74
9,025 2-413 6-612
-5,380
1990 II
-5-515 168,287 173-802 7,275
4-818 9,683
20,016
-3,318 30,206 -216 -120 -311 1,912
997 -3.614 15,510 8-217 2,807 5,410 3,557 3,245 491
198
15,850 9.277 10,258 -981 6,573
33,524
-587 6,595
5,985 11,297 5,175
333 -9
-184 526
5,770 -484 503
1,772
8,462 304 -13
2,880 -2-950 5,830 5,291
III
-15,383 165.444 180,827 6,876
4,447 9,708
29,538
*>*» ,8^2
51-807 363
1.751 -236
21,610
386 -2-473 17-709 11,330 11,983
-653 195
6,908 -724
3,098
9,599 8,380 9,820
-1-440 1,219
28,985
-1,376 3,058
541 6,465 473
512 7
796 -291
6,391 -756 -155
1,978
18,319 461 23
18,374 12-041 6,333 -539
IV
-7,440 174-066 181-506 14,049
2,838 10,040
20,318
8-233 17,175
-93 -372 -929 720
1,166 -5,167 20,408 21-250 20,827
423 892
-1,182 -552
1,811
-369 4,530 11,794 -7.264 -4,899
8,942
999 3,056
389 5.485 7.157
-1.289 -494
-1.695 900
3-893 682
-4,958
2.637
-3,624 212 -52
-2,666 -5,034 2,368
-1.118
1 1991 1 I
Foreign
8.031 173-330 165,299 11-096
-17-886 9,687
-16,230
-2,969 18,701
-31 -1,456
990 -61
1,166 2-410 6,841 6-645 2,352 4,293 4-598
-4,170 -232
482
8-360 3,376 8,294
-4-918 4,984
21,670
384 -4,702
6,562 12,327 2,868
1,853 -291 1,546 598
11,673 -2,336 -1,731
1,672
5,427 283 56
13,999 6,067 7,932
-8,911
II
Sector
5,047 178,998 173-951 9,655
-7,792 9,565
-3-274
-25,734 -14,411
190 -1,254
56 -29,678
-1,616 7,459 15,216 13,354 -2,107 15-461 6,580
-4,342 -376
-304
-4,480 3,095 7,601
-4-506 -7,575
11,323
1,204 3,446
9,154 -12,130
4,081
-899 78
-488 -489
-12-982 -2,315
-15
-41
9-690 420 151
3,824 -2,317 6-141 5,295
ANNUAL FLOWS 1983
-6.1 352.5 358.6 18.4
9.5 17.8
33.5
28.3 54.0 -. i 1.6 .5
12.5
.5 6.0
23.7 15.6 6.5 9.1 4.6 2.7 .8
-1.3
10.7 11.5 11.9 -.3 -.8
25.6
1.1 1.3
3.7 17.3 3.1
3.6 3.0 -.9 1.5
6.5 -.1 4.3
-.9
3.2 .7 .1
9.8 -3.6 13.5 -7.4
1984
-59.0 383.5 442.5 19.2
12.2 19.8
90.9
71.7 85.1 -1.0 1.9 4.6 2.3
.1 -1.3 57.9 28.9 4.7
24.2 14.8 13.0 1.2
1.5
19.1 25.6 22.5 3.1
-6.4
13.4
2.2 -5^8
.9 8.4 3.8
-6.6 -.9
-3.1 -2.6
6.2 1.0 4.0
-1.6
9.4 1.1 .4
13.4 -3.9 17.3 -5.5
, $ BILLIONS 1985
-77.9 370.9 448.9 18.9
15.1 21.3
114.3
104.2 108.8 -.9 1.6 3.7 14.5
.8 4.3 62.3 24.2 -1.1 25.4 36.7 1.5 -.2
.5
21.9 20.5 20.4
.1 1.4
4.6
3.0 -3.9
3.7 1.2 3.8
-2.8 -1.4 -1.3 -.1
6.2 -7.4 1.4
-.1
.8 1.5 -.1 9.7
-4.0 13.7
-10.3
1986
-97.4 1 396.5 2 493.9 3 15.5 4
15.9 5 22.6 6
7 135.8 8
132.6 9 160.6 10 -.2 11 2.7 12
-2.7 13 12.7 14
3.4 15 17.2 16 97.8 17 45.4 18 33.2 19 12.3 20 40.2 21 11.1 22 1.1 23
- 24 .8 25
29.0 26 36.1 27 35.4 28
.7 29 -7.1 30
28.0 31
-.6 32 9.1 33
1.2 34 9.7 35 3.1 36
-1.0 37 « 38
1.0 39 -2.1 40
11.5 41 -5.4 42 1.5 43
- 44 -1.2 45
9.8 46 1.5 47
-1.0 48 12.4 49 3.3 50 9.0 51
-3.1 52
53 Discrepancy (FOF basis) (4) -2,129 11-803 23,334 6,716 12,085 -13,261 22-460
(1) U.S. net sales, si9n reversed. (2) Corporate bonds include net issues by Netherlands Antilles subsidiaries;
U.S. direct investment abroad is before subtracting net inflows of capital from Netherlands Antilles subsidiaries to U.S. parents.
(3) Direct investment totals and retained earnings exclude capital gains/losses included in balance of payments statistics.
(4) BOP discrepancy adjusted to national accounts concepts.
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Forei9n sector
SEASONALLY ADJUSTED ANNUAL RATES
Sector Statements of Saving and Investment
Foreign sector
17 SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS. $ BILLIONS 1987 1988 1989 1990
I 1989 I 1990 I IV I I II III
I 1991 IV I I II
1 2 3 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 33
34 35 36
37 38 39 40
41 42 43
44 45
46 47 48 49 50 51 52
-114.7 449.6 564.3 22.9
14.6 25.3
154.6
158.0 172.4 -.5 -1.4
.9 44.1
2.2 15.6 62.7 40.6 44.8 -4.2 19.9 1.9 .3
_ .2
48.6 47.3 45.4 1.9 1.4
14.5
-9.7 -3.1
-2.1 4.5 7.4
-3.6 -.9
-2.9 .2
2.1 1.0
-2.3
_ 2.9
21.9 1.2 .1
26.0 8.3 17.7 -5.4
-74.1 552.0 626.1 14.5
15.0 30.2
119.3
136.6 169.8
.1 -.6 3.1 6.9
1.1 -.5 97.6 68.7 43.1 25.6 18.6 11.0 -.7
» 2.9
59.2 57.6 51.9 5.7 1.6
33.2
4.0 -3.1
.9 6.3 6.9
-1.8 -.5
--1.3
8.7 -2.4 -5.1
_ 7.4
17.7 2.4 -.3 13.3
.9 12.4 2.2
-46.1 626.3 672.3 31.6
14.8 36.0
96.8
86.9 183.4 -.5 -.2 -1.9 -7.5
3.3 6.6
72.1 45.4 1.7
43.7 12.9 13.0
.8
-1.3
110.3 69.7 72.3 -2.7 40.6
96.4
24.8 1.1
16.7 10.9 5.3
-.1 -1.4
.7
.5
13.3 -5.3 -2.2
_ 3.4
39.6 1.2 -.2 23.7 3.2
20.5 14.9
-31.3 672.8 704.1 37.9
15.5 38.8
85.5
31.6 104.5 -.2 -.3 -.5 24.6
.9 -14.5 53.2 36.0 29.3 6.7 5.9 13.4 -2.1
-5.9
35.4 39.1 51.2
-12.2 -3.7
72.9
2.0 7.7
6.9 23.5 21.6
-2.9 -.5
-2.7 .4
12.3 -3.2 -4.3
« 5.6
27.2 1.3
K
27.6 6.5
21.1 -1.7
Foreign Sector
-35.3 642.8 678.1 29.6
18.5 37.1
-30.0 661.3 691.3 38.2
14.0 37.6
-24.9 659.7 684.6 25.4
19.4 38.7
-41.4 672.7 714.1 35.2
18.3 39.0
-28.8 697.4 726.2 52.6
10.2 39.7
13.5 694.5 681.0 44.0
-70.9 39.1
4.0
4 5 . 4 64 .4 66 .8 - 2 . 4
- 1 9 . 0
4.9
\*\o x 4
17 .2 16 .9 - 1 . 0
- 4 . 3 - . 6
22 .2 - 3 ! o
3 .1
- 4 2 . 8 1.4 - . 5 7 .5 8 . 7
- 1 . 2
78.7 -45 .3
81.0 85.9 -.8
-3.4 -3.5 -12.7
9.1 3.8
44.2 18.3 •27.1 45.4 15.7 9.0 1.1
19.6 134.6 -1.0 -3.5 5.4 36.7
-6.5 -12.0
3.0 -19.1 -25.2
6.2 9.5 17.8 -5.2
-7.6 136.9 -.9 -4.0 -1.3 13.3
4.0 -21.3 59.8 32.9 11.2 21.6 12.0 13.0 2.0
96.3 176.6 1.5 11.5 2.2 90.0
1.5 -15.8 72.3 45.3 47.9 -2.6 2.2
27.6 -2.9
18.0 -30.1 -.4
-5.2 -8.5
-41.5
4.7 -9.1 77.9 85.0 83.3 1.7 — .2
-4.7 -2.2
-7.8 201.7 -.1 -3.5 5.3
41.6
4.7 11.5 32.4 26.6 9.4 17.2 23.4
-16.7 -.9
-97.5 -47.5
.8 -8.4
.4 -116.9
-6.5 22.6 57.7 53.4 -8.4 61.8 23.2
-17.4 -1.5
3.2
109 .2 72 .8 8 4 . 4
- 1 1 . 6 36 .4
8 6 . 4 4 4 . 7 5 0 . 0 - 5 . 3 4 1 . 7
1.0 4 0 . 0 46.8 - 6 . 8
- 3 8 . 9
115 .0 144 .5 8 0 . 4
11 .7 - 1 3 . 1
1.7 2 . 0
32 .7
- 3 . 1 - 3 . 6
- 1 6 . 4 - 6 . 1 - 1 . 2
119 .8 1.3
.3 3 4 . 9
9.9 25.0 83.3
- 2 . 3 24.2
23.8 41.2 25.8
- 4 . 3 2 . 6
2 3 . 1 - 4 . 5 - 1 . 5
4 6 . 2 1.2 - . 1
14 .1 - 9 . 5 2 3 . 5
- 5 . 5 17 .4
- 1 . 0 29.7
1.2
2 . 6 - . 7
2 7 . 3 - 2 . 0
1.2
3 5 . 2 1.8
.1 7 1 . 0 4 7 . 9 2 3 . 1
7.2
- 5 5 . 1 - 1 . 2 2 3 . 7
- 2 4 . 9 - 5 4 . 0
- 4 8 , 1
4.0 2.5
3 . 2 2 1 . 1 2 6 . 5
- 4 . 7 - 2 . 0 - 5 . 9
3 .1
15 .3 - . 3
- 1 5 . 7
- 9 . 6 - 2 2 . 5
12 .9
1.9
107 .9 19 .2 4 0 . 2
- 2 1 . 1 8 8 . 7
209.5
1.5 - 1 1 . 4
28.8 50.6
8.9
10 .3 - 1 . 2
9.3 2.2
4 5 . 5 - 4 . 5 - 9 . 6
138 .2 1.1
.2 54.8 24.3 30.5
14.9 Net U.S. exports, NIPA basis 1 700.4 U.S. export receipts 2 685.5 - U.S. import payments 3 34.7 (Memo: net corporate earnings 4
retained abroad)
-31.1 - Transfers to foreign 5 38.3 - U.S. govt, interest paid 6 - • Net capital grants 7
-7.7 = Net foreign investment 8 (U.S. balance* sign reversed)
97.5 Net financial investment 9 Net acq. of financial assets 10 Gold and SDRs (1) 11 U.S. checkable dep. 12 U.S. time deposits 13 Net interbank claims 14
Security RPs 15 U.S. corporate equities 16 Credit market instruments 17
U.S. govt, securities 18 Official, net 19 Private, net 20
U.S. corporate bonds (2) 21 Loans to US nonbanks 22 Open-market paper 23
Security credit 24 Trade credit 25
4.8 11.7
30.9 -37.8 -83.4 82.0
-52.0 -11.9 -3.9
45.0 1.7 .6
18.2 -7.0 25.2 24.6
Miscellaneous assets 26 Dir. investmt.in U.S.(3) 27
Equity, etc. 28 Retained earnings 29
Other 30
Net increase in liabilities 31 U.S. off. fgn. exchange 8 net IMF position 32
U.S. private deposits 33
Foreign corporate equities 34 Credit market instruments 35 Corporate bonds 36
Bank loans n.e.c. 37 To foreign official 38 To foreign banks 39 To other foreign 40
Commercial paper 41 Accept, liabs. to banks 42 U.S. government loans 43
Security debt Trade debt
44 45
Miscellaneous liabilities 46 U.S.equity in IBRD. etc. 47 U.S. govt, deposits 48 U.S. dir. invstmt. (2.3) 49 Equity, etc. 50 Retained earnings 51
Other 52
62.0 90.6 2.4 60.7 -37.5 89.8 Discrepancy (FOF basis) (4) 53
(1) U.S. net sales, sign reversed. (2) Corporate bonds include net issues by Netherlands Antilles subsidiaries;
U.S. direct investment abroad is before subtracting net inflows of capital from Netherlands Antilles subsidiaries to U.S. parents.
(3) Direct investment totals and retained earnings exclude capital gains/losses included in balance of payments statistics.
(4) BOP discrepancy adjusted to national accounts concepts.
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Banking System
18 Sector Statements of Saving and Investment
UNADJUSTED NET FLOWS, $ MILLIONS
Banking System
UNADJUSTED NET FLOWS- $ MILLIONS
I 1989 I I IV I I
1990 I 1991 II III IV I I II
Monetary Authority
ANNUAL FLOWS, 1983 1984
$ BILLIONS 1985 1986
1 Gross saving 2 Fixed nonres. investment
3 Net acq. of financial assets 4 Gold and foreign exchange 5 Treasury currency 6 SDR certificates 7 Federal Reserve float 8 F.R. loans to domestic banks 9 Security RPs
10 Credit market instruments 11 U.S. government securities 12 Treasury securities 13 Agency issues 14 Acceptances 15 Bank loans n.e.c. 16 Miscellaneous assets
17 Net increase in liabilities 18 Depository inst. reserves 19 Vault cash of coml. banks
23 24
Checkable dep. and currency Due to U.S. government Due to foreign Currency outside banks
Miscellaneous liabilities
-249 44
12,690 1-491 215
-592 -117 2,117
5,695 5,695 5,725 -30
2,697
12,690 3,306 5,549
370 -7,220
242 7.348 3,465
-220 42
-7,585 1,580 224
--717 1,682 -184
-8,878 -8-878 -8-877
-1
-1,292
-7,585 570
-5,420
1,036 -1,300
-306 2-642
-3,771
-220 45
10-815 -40 208
-280 -1,577 -1,933
13,406 13,406 13-484
-78
471
10,815 207
1,043
9,019 678 80
8,261 546
-219 48
5,139 -688 180
-1,221 -81
-2,921 2,921 2,990 -69
1,586
5,139 -207 458
6,638 2,115
55 4,468
-1,750
-219 49
19,601 494 161
1,500 689
-315 18,354
682 682 717 -35
-1-964
19,601 2-529 7,838
8,516 1,348 -47
7,215 718
-217 50
-15,561 24 168
--24 54
-18,354
5,875 5,875 5,875
_
-3-304
-15,561 -14-591 -7,884
9,528 2,032 -94
7,590 -2,614
-80 39
5,239 560 181
--2,262 1,235 1-402
6,390 6,390 6,519 -129
-2,267
5,239 -1,866
919
4,793 890 -62
3-965 1,393
.6
.1
9.4 -1.7
.7
--1.2 .2
-3.8
14.7 14.7 15.0 -.3
--.5 9.4
-5.0 1.5
.7
.1
14.6 .5 .7
--.7 2.7
K
8.4 8.4 8.7 -.3
--3.0
14.6 .4
3.2
-1.1 .1
24.9 2.0 .6 .1 .1
-.5 3.2
18.4 18.4 18.6 -.2
--1.0
24.9 6.8 1.3
-1.8 1 .1 2
31.9 3 .4 4 .5 5 .3 6 .3 7
-1.5 8 10.8 9
19.4 10 19.4 11 19.8 12 -.4 13 - 14 - 15 1.6 16
31.9 17 19.5 18
.1 19
13.0 -1.3
4 20 9 21
14.4 23 -.1 24
25 Discrepancy
Commercial Banking (1)
1 2
3 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 33
34 35 36 37
38 39
40
41
Gross saving Fixed nonres. investment
Net acq. of financial assets Checkable dep.and currency
Total bank credit U.S. govt, securities Treasury issues Agency issues
Tax-exempt obligations Corporate bonds
Total loans Mortgages Consumer credit Bank loans n.e.c. Open-market paper Security credit
Corporate equities
Cust. liabs. on acceptances Vault cash Reserves at Federal Reserve Miscellaneous assets
Net Increase in liabilities Checkable deposits
U.S. government Foreign Private domestic
Small time and savings dep.
Large time deposits Fed. funds and security RPs
Net interbank claims To Federal Reserve To domestic banks (2) To foreign banks
Corporate equity issues Credit market debt
Corporate bonds Open-market paper
Profit taxes payable Miscellaneous liabilities
Discrepancy
Memo: Credit mkt. funds adv.
2,267 7,345
48,671 -4
55,672 12,613
-11 12,624
-6,222 3,357
45,924 21,437 10,619 12,944 1,522 -598
-693
5,549 2,765
-16,004
47,553 36,395 -4,696
-82 41,173
35-201
4,238 -11,517
2,664 475
-4,190 6,379
444 -1,115
2 -1,117
-54 -18,703
-6,196
56,963
4,326 7,488
31,364 17
27,193 34,881 14,239 20,642
-3,680 -108
-3,900 19,799 -9.371
-12,806 -325
-1,197
--5,598 -5,420
347 14,825
36-643 -37,913 -8-863 -1-259 -27,791
27,774
-4-863 19,880
7,298 965
5,946 387
449 -4.679 -1,692 -2,987
_ 28,697
2,117
22,792
2,907 7,655
-25,712 25
43,809 10-411 -3-535 13,946
-5,859 1,427
37,829 27,895
-9,503 947
-516
1
-2.491 1.043 307
-68.405
-14-869 23,733 15,353 -200 8,580
37,637
-6-076 1,006
581 -1,297
-34 1,912
454 -9-246
-752 -8,494
-108 -62.850
6.095
41,833
2,614 7,686
53,868 52
30,751 11,859 2,491 9,368
-1,443 -129
20,465 16,597 7,000
-1,859 -441 -832
-1
-1,889 458 93
24,403
47-464 -2,248 4,523 1-696
-8-467
29,775
-7,727 -15,540
22-332 1,140 -418
21,610
459 -12,316 -4-893 -7,423
-106 32-835
-11,476
29,695
2,774 7,950
45,616 123
24.791 2,134
-8-626 10,760
-5,401 2,997
25,061 13,169 4,000 4,258 3,078 556
-144
7,838 2,729 9,991
33,571 38-480 -5,676
-325 44,481
26,635
-6-458 -30,548
-3,589 374
-4,683 720
-98 -2-538 2,529
-5,067
1 11,686
-17,221
24,379
5 7
11
17 29 15 14
-4 1
-9 11
-13 -8
-7 -7
-13 22
23 -37 -4 -1
-31,
33
13, -7,
14,
14,
-11, 2<
-13-
19,
10,
10,
,706 ,697
,182 75
-354 .996 -460 ,536
,091 ,446
,993 -369 ,392 .445 427 48
-4
,173 ,884 •791 ,601
,869 • 358 ,597 362 ,399
• 125
• 621 ,947
387 30
418 -61
-22 .298 • 113 411
-50 .411
.696
,137
3,342 7,203
-22,112 185
20,402 17,706 9,409 8,297
-4,575 1,103
6,168 15,114 -2,834 -9,220 -1,898 5,006
--1,473
919 -1,466
-40,679
-30,355 19-520 9,717
-1,192 10,995
17,314
-8,935 1,248
-25-329 -1,027 5,376
-29,678
250 -3,615
498 -4,113
--30,808
-12,104
13,923
6.8 9.1
156.6 ^2
138.9 47.8 47.1
.7
3.7 3.9
83.4 29.2 22 .7 28.2
.8 2.4
K
6.9 1.5
-6.0 15.2
165.3 15.9 -5.3 1.6
19.7
130.8
-48.3 14.8
.6 -1.0
-10.9 12.5
.8 18.4 9.7 8.7
-.1 32.5
6.4
143.3
5.0 14.8
208.6 .5
175.9 1.5 2.8
-1.3
12.5 5.1
156.9 44.6 45.2 62.7 -1.4 5.8
-.1
3.8 3.2 -.5 25.7
214.4 29.2 4.0 2.0
23.2
74.6
38.3 1.6
9.8 2.0 5.5 2.3
1.1 23.3 13.5 9.8
* 36.5
-4.0
174.0
9.0 16.0
247.8 .4
208.9 9.5 11.9 -2.4
57.1 6.2
136.0 49.7 37.5 40.3 -2.5 11.0
.1
-9.5 1.3 5.1
41.6
246.7 53.9 10.3 1.4
42 .2
80.3
11.8 31.3
19.5 -.4 5.3 14.5
1.4 11.7 18.9 -7.1
.1 36.8
-8.1
188.4
9.0 1 18.2 2
245.4 3 -.1 4
197.9 5 44.5 6 6.5 7
38.0 8
-28.4 9 23.7 10
158.1 11 70.1 12 24.8 13 69.9 14 -.9 15
-5.8 16
* 17
-5.6 18 .1 19
17.8 20 35.3 21
241.2 22 94.1 23 1.7 24 2.9 25
89.6 26
71.6 27
3.2 28 19.2 29
8.7 30 -1.2 31 -2.8 32 12.7 33
1.4 34 11.5 35 16.1 36 -4.6 37
* 38 31.5 39
-13.3 40
198.1 41
(1) Consists of U.S.-chartered commercial banks, domestic affiliatestBHCs). Edge Act corporations- agencies and branches of foreign banks, and banks in U.S. possessions. Edge Act corporations and offices of foreign banks appear together in these tables as "foreign banking offices in U.S." IBF's are excluded from domestic banking and treated like branches in foreign countries.
(2) Floats and discrepancies in interbank deposits and loans.
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Banking System Banking System
Sector Statements of Saving and Investment 19 SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS, 1987 1988
$ BILLIONS 1989 1990
1 1989 1 1990 1 IV 1 I II III
Monetary Authority
1 IV 1
1991 I II
1
** 3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19
20 21 22 23 24
-1.5 .1
10.7 -3.8
.6
--.5 2.3
-14.7
24.7 24.7 24.9 -.3
--2.1
10.7 -6.3 -.8
16.7 -2.3 -.1 19.0 1.1
.7
•*• 18.4 2.5 .6
-.5 -1.6 5.5
10.5 10.5 11.1 -.6
--.4
18.4 -2.4 2.7
18.1 3.3 .1
14.7 .1
-1.0
* * •
11.2 12.6
.8 3.5 - .2
-1.7 -4.7
-7.3 -7.3 -6.9 -.4
--
8.2
11.2 -3.8 1.1
9.5 -2.4
.2 11.7 4.3
-.9
* * •
28.0 1.3 .8
1.5 1.5 -.3 16.2
8.1 8.1 8.3 _ #2
--
-1.2
28.0 3.1 3.9
25.2 2.8 -.2
22.6 -4.3
14.9 6.0 .9
-.1 -1.8 1.2
-4.6 -4.6 -4.6
-.9 .2
25.3 6.3 .9
-1.4 7.9
16.8
-6.3 -6.3 -6.3
.1
.3 Gross saving
.2 Fixed nonres. investment
29.9 14.5 -.2 -2.8 .8 .7
3.2 3.5 -4.3 -1.9
-12.5 -5.6
40.4 40.4 40.8 -.4
24.4 24.4 24.7 -.3
42.2 2.0 .6
6.0 .6
-2.9 66.3
-5.0 .1 .7
1.2 1.3
-55.6
25.9 53.3 25.9 53.3 25.9 53.2
* .1
6.9 Net acq. of financial assets Gold and foreign exchange Treasury currency SDR certificates Federal Reserve float F.R. loans to domestic banks
.7
-6.8 7.4
12.2 12.2 12.8 -.6
Treasury securities Agency issues
Acceptances Bank loans n.e.c.
Miscellaneous assets
14.9 6.4 8.0
-1.7 •12.8 1.0
10.1 2.3
25.3 7.9
-4.9
34.0 9.2
-1.2 26.1
-11.8
29.9 6.7 .2
-1.0 -24.4
.3 23.0 24.1
14.5 -4.7 3.6
34.8 2.4 .2
32.2 -19.3
42.2 2.4
16.7
33.1 24.2 - .2 9.1
-10.0
-5.0 -51.7 -14.8
67.5 21.8 -.4
46.1 -6.0
6.9 -2.2 -.4
-20.6 -26.1 -.2 5.7
30.1
Security RPs 9
Credit market instruments 10 U.S. government securities 11
12 13 14 15 16
6.9 Net increase in liabilities 17 Depository inst. reserves 18 Vault cash of coml. banks 19
Checkable dep. and currency 20 Due to U.S. government 21 Due to foreign 22 Currency outside banks 23
Miscellaneous liabilities 24
-.5 Discrepancy
Commercial Banking (1)
1 2
3 4
5 6 7 8
9 10
11 12 13 14 15 16
7.5 20.1
171.0 -.8
124.6 27.1 -2.0 29.1
-29.1 23.8
102.9 86.2 16.5 3.2 2.3
-5.3
10.0 25.3
178.6 _ 2
158.1 21.3 -9.1 30.3
-22.7 11.7
147.9 77.8 33.1 39.4 -1.9 -.5
11.4 28.4
279.4 -.1
183.7 35.7
-18.9 54.5
-17.8 3.4
162.5 94.3 22.5 41.5 -.1 4.3
12.6 30.8
105.1 .2
126.5 59.3 4.6
54.7
-16.4 4.2
79.5 77.5 1.6 -.9 3.3
-2.0
12.0 29.4
116.3 K
183.8 62.7 16.3 46.4
-15.8 10.5
126.4 87.2 29.5 7.5 1.1 1.1
11.0 30.0
217.2 .1
185.4 114.6 27.6 87.0
-13.7 -3.7
88.2 89.2 -1.8 7.1 4.0
-10.3
12.5 30.6
-127.2 .1
148.6 59.3 -.6
59.9
-23.8 7.3
105.9 101.1 -10.9 13.0 3.4 -.7
12.7 30.7
217.6
•2
107.0 43.5 9.5
34.0
-18.5 4.9
77.1 65.0 16.9 1.4
-1.3 -4.8
14.3 31.8
113.0 .5
65.2 19.8
-18.2 38.0
-9.5 8.3
46.6 54.6 2.3
-25.1 6.9 7.9
16.0 30.8
130.1 .3
144.9 94.7 31.2 63.4
-17.6 2.3
65.5 55.5
-15.9 25.6 7.2
-6.9
14.3 28.8
-102.6 .7
51.2 89.8 52.3 37.5
-20.5 6.4
-24.5 49.1
-23.4 -64.5 -7.7 22.0
3 Gross saving 1 8 Fixed nonres. investment 2
6 Net acq. of financial assets 3 Checkable dep.and currency 4
Total bank credit U.S. govt, securities
Treasury issues 7 Agency issues 8
Tax-exempt obligations 9 Corporate bonds 10
Total loans 11 Mortgages 12 Consumer credit 13 Bank loans n.e.c. 14 Open-market paper 15 Security credit 16
Corporate equities
18 19 20 21
22 23 24 25 26
5.4 -.8
-6.4 49.0
167.7 -19.7 -5.8 -1.3
-12.6
-2.3 2.7
-3.5 23.8
208.1 16.8 7.3 -.6 10.1
-2.1 1.1
-3.7 100.5
259.3 -3.8 -3.4 -.5 .1
-9.8 3.9 3.5
-19.2
102.8 22.1 5.3 -.1 16.8
1.5 8.0 4.2
•81.2
97.6 50.6 5.0
-4.4 49.9
-11.6 -4.9 7.0
41.1
260.4 5.7
13.1 -2.3 -5.2
-17.3 2
7.1 -266.0
-105.0 -19.9 -13.4 -4.3 -2.3
-10.1 3.6
-3.5 120.3
207.5 47.0 18.2 11.3 17.5
-.4 16.7 3.2
27.8
48.4 55.5 3.4
-5.1 57.2
-17.6 -14.8 -48.5 65.8
207.2 9.3
30.1 -3.1
-17.7
-13.5 -.4 -.6
-140.0
-161.8 -40.4 -39.2 -8.1 7.0
Cust. liabs. on acceptances 18 Vault cash 19 Reserves at Federal Reserve 20 Miscellaneous assets 21
8 Net increase in liabilities 22 Checkable deposits 23
U.S. government 24 Foreign 25 Private domestic 26
96.5 121.8 Small time and savings dep. 27
28 29
30 31 32 33
34 35 36 37
38 39
40
41
42.1 10.2
41.1 1.8
-4.8 44.1
1.6 20.5 13.5 7.1
.1 44.5
-15.8
135.4
42.0 20.8
2.0 -1.2 -3.7 6.9
1.7 2.2 5.1
-2.9
^2
49l3
14.3
156.3
32.1 37.8
-14.5 -1.9 -5.1 -7.5
1.7 4.8 4.7 .1
.2 104.4
-37.1
177.3
-25.1 -25.2
26.6 1.2 .8
24.6
1.3 -28.8 -4.8
-24.0
10^4
-20.5
118.7
5.4 -38.5
-11.5 -2.0 3.2
-12.7
1.8 -4.6
K
-4.6
— .2 -19.2
-36.0
184.3
-13.2 52.8
52.4 6.5 9.3 36.7
1.8 -13.7 -6.8 -7.0
66.5
24.2
184.1
4.7 49.2
12.4 -1.1
13!3
1.8 -46.0 -3.0
-43.0
-.4 -273.4
4.1
132.1
-54.2 -91.4
83.0 1.6
-8.7 90.0
1.8 -46.1 -19.6 -26.5
-.4 134.9
-28.1
101.7
-37.7 -111.4
-41.4 -2.3 2.5
-41.5
-.4 -9.3 10.1
-19.4
X
113.5
-82.2
56.9
59.3 -60.0
85.3 2.4
41.2 41.6
-.1 -40.5
8.5 -49.0
— .2 23.4
62.2
134.2
-5.5 50.7
-94.2 .6
-116.9
1.0 -23.7
2.0 -25.7
-136.0
-73.7
15.7
Large time deposits Fed. funds and security RPs
Net interbank claims To Federal Reserve To domestic banks (2) To foreign banks
Corporate equity issues Credit market debt
Corporate bonds Open-market paper
Profit taxes payable Miscellaneous liabilities
Discrepancy
Memo: Credit mkt. funds adv.
28 29
3C 31 32 33
34 35 36 37
38 39
40
41
(1) Consists of U.S.-chartered commercial banks, domestic affiliates(BHC*s), Edge Act corporations, agencies and branches of foreign banks, and banks in U.S. possessions. Edge Act corporations and offices of foreign banks appear together in these tables as "foreign banking offices in U.S." IBF's are excluded from domestic banking and treated like branches in foreign countries.
(2) Floats ard discrepancies in interbank deposits and loans.
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFCKMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1991 Commercial Banking Subsectors Commercial Banking Subsectors
20 Subsector Statements for Component Groups in Commercial Banking
UNADJUSTED NET FLOWS, $ MILLIONS UNADJUSTED NET FLOWS, $ MILLIONS
I 1989 I I IV I I
1990 II III
I 1991 IV I I II
ANNUAL FLOWS, $ BILLIONS 1983 1984 1985 1986
U.S.-Chartered Commercial Banks
1 Gross saving 2 Fixed nonres. investment
3 Net acq. of financial assets 4 Total bank credit 5 U.S. govt, securities 6 Treasury issues 7 Agency issues
8 Tax-exempt obligations 9 Corporate bonds
10 Total loans 11 Mortgages 12 Consumer credit 13 Bank loans n.e.c. 14 Open-market paper 15 Security credit
16 Cust. liab. on acceptances 17 Vault cash & res. at F.R. 18 Miscellaneous assets
19 Net increase in liabilities 20 Checkable deposits 21 U.S. government 22 Foreign 23 Private domestic
24 Small time & svgs.deposits
25 Large time deposits 26 Fed. funds & security RPs
27 Net interbank liabilities 28 Federal Reserve float 29 Borrowing at F.R. banks 30 To domestic banking 31 To foreign banks
32 Acceptance liabilities 33 Corporate equities 34 Corporate bonds 35 Profit taxes payable 36 Miscellaneous liabilities 37 Inv. by dom. affiliates 38 Other
39 Discrepancy
40 Memo: Credit mkt. funds adv.
-979 7-173
52-083 43,991 10,096 -2-491 12,587
-6-209 2,398
37,706 18-991 10-619 6-808 1-750 -462
-1-522 8-196 1,418
54-133 37,256 -4,696
10 41-942
35,201
1,768 •15-684
-8-170 592
-117 -1-551 -7,094
-1,480 444 729 -54
4-123 387
3,736
-6-102
42,931
2,056 7,312
14-994 23,043 30-844 10,882 19,962
-3,671 -1,504
-2-626 14-161 -9-371 -6-431
-372 -613
-1,301 -5-409 -1,339
22 -452 -38-517 -8-863 -1-840
-27-814
27,774
-2-057 18-006
13-463 -717 1,682
-2-341 14,839
-1,499 449
-464
-5,297 6,245 -948
2 ,202
22 - 355
-38 7,472
35-674 36-498 11-934 -1-720 13,654
-5,854 1,634
28-784 25,011
-4,848 -74
-1,001
-1-978 1-688 -534
49,342 24,131 15,353
51 8,727
37,637
-5,976 -2,870
-5,955 280
-1,577 -16,095 11,437
-2,002 454 597
-108 3,434
986 2-448
6-158
35,521
-103 7,500
30-874 24,519 10-463 1-442 9-021
-1-441 -675
16-172 13-814 7-000
-3-444 -307 -891
501 266
5,588
27-111 -2,865 4,523 1,508
-8-896
29,775
-4,038 -17-507
11-247 1-221 -81
8,389 1,718
473 459
-535 -106
10,208 575
9,633
-11-366
25,911
-239 7,757
16-682 6-984 1 -225
-8-923 10-148
-5-409 1,568
9,600 8-951 4-000
-2-456 1-990
-2,885
-1-315 10,675
338
7-540 38,948 -5-676
-110 44,734
26,635
-8,405 -31,267
-9,925 689
-315 -548
-9,751
-1,385 -98
4,607 1
-11,571 -2,413 -9,158
-17-138
8-554
2,879 7,500
-13-617 9-147
25-842 12,095 13,747
-4-106 1,560
-14,149 7,746
-13-392 -10,729
1-243 983
-1,853 -20-990
79
1,813 -36-899 -4-597 -1-425
-30-877
33,125
-14,012 -4-745
8-252 -24 54
3,789 4,433
-1-906 —22 82
-50 17,988 3-642
14,346
10,809
6,311
807 7,000
9,246 11,526 18-630 10,806 7,824
-4,605 1,055
-3,554 12-842 -2,834
-14,256 -1,732 2,426
-2,343 -442 505
3,441 19-856 9,717
-1,117 11,256
17,314
-21,211 -2,085
-2-468 -2,262 1,235
-1,258 -183
-2,314 250 222
--6,123 -2,743 -3,380
-11,998
6,757
-.5 8.8
130.3 133.9 44.2 43.5
.7
3.8 3.6
82.3 29.4 22.7 27.1 1.1 2.0
4.6 -3.9 -4.3
146.2 15.6 -5.3 1.4
19.5
130.8
-38.7 11.3
6.9 -1.2
.2 -.1 7.9
3.0 .8
-.2 -.1 16.9 15.5 1.4
6.6
136.5
-2.5 14.3
165.3 166.2 1.3 2.5
-1.2
12.6 3.2
149.1 44.1 45.2 55.7 -.6 4.7
-2.8 2.5 -.5
178.5 30.2 4.0 2.8
23.4
74.6
33.9 1.9
4.8 -.7 2.7 4.6
-1.8
-3.6 1.1 3.6
K
32.0 18.9 13.1
-3.6
158.7
.2 15.6
191.4 183.4 4.6 7.5
-2.9
57.2 2.3
119.3 49.4 37.5 28.4 -2.8 6.8
-11.1 5.7
13.4
198.9 51.8 10.3
.1 41.4
80.3
10.8 26.8
8.0 .1
-.5 -1.7 10.1
-10.9 1.4 4.5 .1
26.0 15.6 10.3
-7.9
165.6
2.2 1 17.6 2
175.8 3 163.8 4 42.4 5 5.9 6
36.5 7
-28.4 8 18.4 9
131.5 10 67.0 11 24.8 12 46.4 13 -.7 14
-5.9 15
-7.3 16 17.3 17 1.9 18
178.2 19 93.2 20 1.7 21 2.7 22
88.8 23
71.6 24
-6.6 25 10.8 26
-4.8 27 .3 28
-1.5 29 -.9 30
-2.7 31
-8.7 32 1.4 33 2.2 34
* 35 19.1 36 16.7 37 2.4 38
-13.0 39
162.5 40
Foreign Banking Offices in U.S.
1 Gross saving 2 Fixed nonres. investment
3 Net acq. of financial assets 4 Total bank credit 5 U.S. govt, securities 6 Tax-exempt obligations 7 Corporate bonds
8 Total loans 9 Mortgages
10 Bank loans n.e.c. 11 Open-market paper 12 Security credit 13 Corporate equities
14 Cust. liab. on acceptances 15 Reserves at Fed. Reserve 16 Miscellaneous assets
17 Net increase in liabilities 18 Checkable deposits 19 Time deposits 20 Fed.funds and sec.RPs, net
21 Net interbank liabilities 22 To foreign banks 23 To domestic banks
24 Acceptance liabilities 25 Miscellaneous liabilities
42 93
-9-406 10-835
653
952
9,230 2-272 7,322 -228 -136
-2,215
118 •22,574
-9-424 -861
2,470 4-167
8-198 12,322 -4,124
1-136 -24-534
44 97
13-706 2,568 3,181
1,338
-1,951 5-572
-6-986 47
-584
--4-297
336 15-099
13-697 604
-2-806 1,874
-6,568 -14,595
8,027
-2-213 22,806
47 103
-58,077 9,661 599
-254
9-315 2-784 5-025 1,021 485
1
-513 -338
-66,887
-58-061 -398 -100 3,876
5,637 -10-946 16,583
-218 -66,858
49 107
12,793 7-727 1,575
462
5,691 2,781 2-985 -134
59 -1
-2,390 285
7,171
12-761 617
-3-689 1,967
135 18,874
-18,739
-826 14,557
52 113
41-136 17-617 1-568
1-400
14-649 4-208 5-912 1,088 3,441
-1,459 -108
22,168
41-133 -468 1,947 719
7,206 12,632 -5-426
2,372 29,357
54 118
25,399 9-203 4,135
-105
5-177 3-595 3-333 -816 -935
-4
-5,320 -685
22,201
25,367 -459
27,633 -3,202
5,987 -5,946 11,933
-6,395 1,803
57 123
-27,199 9,331
-1,788
61
11-058 2,262 6,382 -166
2,580
-870
-105 -37,295
—27-223 -336
12-276 3,333
-21,703 -27,657
5,954
-99 -20,694
X
.1
1.3 1.9 1.7 -.1 .4
-.1 .2
-.4 -.4 .5 K
2.2 -.7 •2.2
1.3 .3
-9.6 3.5
3.9 7.7 -3.8
2.2 1.0
» .1
13.3 7.3 -.6 -.1 1.8
6.3 .4
5.7 -.9 1.1 -.1
6.6 .3
-.9
13.4 -1.0 4.4 -.3
3.1 4.6
-1.5
7.3 K
K
.1
21.3 19.1
.4 -.1 3.5
15.1 .1
10.5 .3
4.2 .1
1.6 .7
"-1
21.3 2.1 .9
4.5
9.9 4.9 5.0
1.5 2.4
.1 1
.1 2
39.6 3 33.4 4 3.6 5
6 5.0 7
24.8 8 2.9 9
21.9 10 -.2 11 .1 12 K 13
1.7 14 .6 15
3.9 16
39.7 17 .9 18
9.8 19 8.4 20
12.9 21 14.1 22 -1.2 23
2.8 24 4.8 25
26 Discrepancy
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1991 Commercial Banking Subsectors
SEASONALLY ADJUSTED ANNUAL RATES
Commercial Banking Subsectors
Subsector Statements for Component Groups in Commercial Banking o-j
SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS- $ BILLIONS 1987 1988 1989 1990
I 1989 I I IV I I
1990 I 1991 II III IV I I II
U.S.-Chartered Commercial Banks
1 2
3 4 5 6 7
8 9
10 11 12 13 14 15
16 17 18
19 20 21 22 23
1.4 19.6
90.3 97.0 24.8 -3.1 27.9
-29.1 20.7
80.6 80.7 16.5
-14.6 1.1
-3.2
-1.0 -6.8 1.1
92.9 -19.1 -5.8 -1.5
-11.8
1.3 24.7
127.1 129.0 19.8 -9.4 29.3
-22.7 12.3
119.6 69.1 33.1 19.2 -1.4 -.4
-3.1 .3 .8
165.1 15.8 7.3 -.6 9.1
1.5 27.8
159.7 155.3 34.0
-20.3 54.2
-17.8 2.3
136.9 85.4 22.5 25.3 -.5 4.2
-5.2 -2.5 12.0
149.0 -3.5 -3.4 -.3 .2
1.7 30.0
98.2 91.0 54.5 1.7
52.8
-16.4 1.0
51.9 61.9 1.6
-7.5 1.2
-5.4
-4.1 7.2 4.1
106.4 21.7 5.3 -.4 16.8
-1.0 28.7
162.2 155.5 52.6 6.4
46.2
-15.7 6.7
112.0 77.4 29.5 -.6 2.0 3.7
-5.5 11.7
.5
156.2 52.1 5.0
-4.7 51.8
1.9 29.2
107.0 154.3 98.4 14.2 84.3
-13.6 -9.3
78.8 66.6 -1.8 19.2 3.3
-8.5
-4.8 .8
-43.4
158.9 4.5 13.1 -5.0 -3.6
.7 29.9
143.8 115.5 65.4 6.7
58.7
-23.8 8.1
65.9 89.6
-10.9 -7.2 -.8 -4.8
-8.1 8.6 27.7
177.4 -18.3 -13.4 -1.9 -3.0
1.9 30.0
110.6 81.8 37.9 5.3 32.6
-18.5 2.7
59.7 53.8 16.9 -7.1 -.1 -3.8
.7 -1.0 29.1
111.1 45.5 18.2 10.4 17.0
2.2 31.0
31.5 12.5 16.2
-19.4 35.6
-9.6 2.6
3.3 37.7 2.3
-34.8 2.6
-4.5
-4.1 20.4 2.8
-21.6 55.1 3.4
-5.0 56.6
4.7 30.0
-17.4 97.9 78.1 17.8 60.3
-17.7 2.8
34.7 41.0
-15.9 2.7 9.9
-3.1
-7.7 -60.5 -47.1
70.6 13.0 30.1 -3.8
-13.4
4.2 28.0
40.0 11.6 93.5 57.9 35.6
-20.6 6.2
-67.5 40.0
-23.4 -86.2 -7.4 9.5
-9.1 -.6 38.1
-9.4 -39.6 -39.2 -6.5 6.1
Gross saving Fixed nonres. investment
Net acq. of financial assets Total bank credit
U.S. govt, securities Treasury issues Agency issues
Tax-exempt obligations Corporate bonds
Total loans Mortgages Consumer credit Bank loans n.e.c. Open-market paper Security credit
Cust. liab. on acceptances Vault cash 8 res. at F.R. Miscellaneous assets
Net increase in liabilities Checkable deposits
U.S. government Foreign Private domestic
1 2
3 4 5 6 7
8 9
10 11 12 13 14 15
16 17 18
19 20 21 22 23
113.8 108.1
25 26
27 28 29 30 31
32 33 34 35 36 37 38
39
40
37.7 11.9
20.3 -.5 2.3 1.4 17.1
-1.0 1.6 .7 .1
13.6 19.8 -6.2
-15.6
99.2
35.2 16.3
.6
.5 -1.6 -.6 2.4
-3.3 1.7 -.3 .2
25.7 21.3 4.4
14.5
126.4
24.0 35.6
-22.3 -.2 -1.7 -14.7 -5.8
-5.3 1.7 2.8 .2
19.4 8.6 10.8
-37.0
146.0
-20.5 -33.6
8.8 1.5 -.3
-10.6 18.2
-4.4 1.3 4.2 _ 2 7.4 5.4 2.0
-20.1
92.3
2.5 -55.0
-12.9 -.1 -1.8 8.2
-19.1
-5.5 1.8 2.9 - .2 56.9 2.3
54.6
-35.7
146.3
-5.8 45.3
48.8 -1.4 7.9
-13.8 56.2
-4.6 1.8
-1.9
--37.4 30.4
-67.9
24.5
157.9
-1.0 33.7
-20.7 3.2
-4.3 -64.0 44.3
-8.9 1.8 2.4 -.4 22.1 -.7 22.8
4.4
112.3
-37.2 -99.3
26.5 3.5
-1.9 23.0 2.0
K
1.8 -2.1 -.4 43.3 -.7 44.0
-27.6
86.3
-37.9 -114.3
-19.3 .6
-2.9 12.5
-29.4
-4.2 -.4 18.4
K
1.5 -7.5 9.0
-81.9
12.9
-54.6 -47.2
29.5 1.2 1.3 9.8 17.3
-6.9 -.1 .3
-.2 6.0 19.3
-13.3
62.7
93.3
-61.8 37.4
-8.9 -6.8 7.4
-4.4 -5.1
-9.9 1.0 .9
--14.6 -16.7
2.1
-73.3
-7.0
Small time & svgs.deposits 24
Large time deposits 25 Fed. funds a security RPs 26
Net interbank liabilities 27 Federal Reserve float 28 Borrowing at F.R. banks 29 To domestic banking 30 To foreign banks 31
Acceptance liabilities 32 Corporate equities 33 Corporate bonds 34 Profit taxes payable 35 Miscellaneous liabilities 36
Inv. by dom. affiliates 37 Other 38
73.3 Discrepancy 39
7.0 Memo: Credit mkt. funds adv. 40
Foreign Banking Offices in U.S.
1 2
3 4 5 6 7
8 9 10 11 12 13
14 15 16
17 18 19 20
21 22 23
24 25
.1
.2
50.1 25.5
.9
3.0
21.7 5.2 17.4 1.2
-2.1 -.1
6.5 -.4 18.5
50.2 -.6 4.5
-1.7
15.6 23.5 -7.9
6.6 25.8
.1
.2
31.8 28.6 1.2
-.7
28.1 8.1 20.5 -.5 -.1
K
.7 -1.1 3.6
31.9 1.0 6.8 4.5
5.0 2.7 2.3
.5 14.0
42 .3
93.8 23.8
1.1
22.6 8.1 14.0
3.1
67.1
94.0 -.3 8.1 2.3
4.8 -3.6 8.4
1.0 78.0
.2
.4
9.6 37.6 6.9
2.9
27.7 15.3 6.9 2.0 3.4
--5.7
.2 —22 .4
9.5 .4
-4.6 8.4
6.4 6.0 .4
-.9 -.1
.2
.4 .2 .5
.2 Gross saving
.5 Fixed nonres. investment
•75.7 24.9 2.6
-3.8 18.5 9.1 12.9 -1.0 -2.6
-7.1 .5
08.1
-75.8 -1.5 2.9 16.7
-.9 10.1 11.0
2.0 94.9
100.1 24.7 12.7
-5.4 6.6
22.3 -14.6
.8 -1.9
--6.7 1.3
80.8
100.1 1.2
-7.4 7.5
-7.9 -29.9 22.0
.7 106.0
-259.1 42.5 2.4
--1.0
41.1 11.1 21.6 4.2 4.1
K
-9.2 -1.4
-291.D
-259.0 -1.6 5.6 15.5
29.3 -37.0 66.3
-7.4 -300.3
74.3 31.1 6.3
-1.8 23.0 11.1 14.2 -1.2 -1.1
K
-10.7 1.1
52.8
74.2 1.4
-17.0 7.9
13.5 84.9
-71.4
-3.5 71.9
122.9 52.0 6.3
-5.6 40.1 16.8 6.5 4.3 12.5
-3.7 -.4 67.6
122.9 .4 2
2',9
-9.5 5.9
-15.2
6.7 121.9
152.0 51.0 16.5
--.4 34.9 14.4 27.1 -2.8 -3.8
M
-9.9 -2.7 113.7
151.9 -3.7 113.8 -12.8
44.8 8.1 36.7
-15.4 25.1
-140.8 41.4 -7.2
-.2 48.3 9.0
27.1 -.4 12.5
--4.4 -.4
-177.4
-140.9 -.8 56.3 13.3
-80.9 -104.7
23.8
-7.5 -121.4
Net acq. of financial assets Total bank credit
U.S. govt, securities Tax-exempt obligations Corporate bonds
Total loans Mortgages Bank loans n.e.c. Open-market paper Security credit
Corporate equities
Cust. liab. on acceptances Reserves at Fed. Reserve Miscellaneous assets
Net increase in liabilities Checkable deposits Time deposits Fed.funds and sec.RPs* net
Net interbank liabilities To foreign banks To domestic banks
Acceptance liabilities Miscellaneous liabilities
3 4 5 6 7
8 9 10 11 12 13
14 15 16
17 18 19 20
21 22 23
24 25
-.4 Discrepancy
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1991 Commercial Banking Subsectors* Continued
22 Commercial Banking Subsectors- Continued
UNADJUSTED NET FLOWS, $ MILLIONS
Commercial Banking Subsectors- Continued
UNADJUSTED NET FLOWS- $ MILLIONS
1 Gross savins
2 Fixed nonres. investment
3 Net acq. of financial assets
4 Credit market instruments
5 U.S. govt, securities 6 Bank loans n.e.c.
7 Miscellaneous assets 8 Inv.in bank subsidiaries 9 Inv. in finance co.subs.
10 Other
11 Net increase in liabilities
12 Net interbank claims 13 To domestic banks 14 To foreign banks 15 Corporate bonds 16 Commercial paper
17 Miscellaneous liabilities 18 Equity- etc. 19 Other
20 Discrepancy
I 1989 I
I IV I I 1990
II III 1991
I II IV I
Domestic Affiliates of Commercial Bankc (BHCs)
ANNUAL FLOWS- $ BILLIONS 1983 1984 1985 1986
3,191 50
2,213 50
2,884 50
2-654 49
2-946 49
2,758 48
2-462 48
9,713 -12-704 -1-083 -4-643
501 1,776 •1-275
4-976 38 7
3-288 1,301
2,328
2,636 1-485 1-151 -727 -773
1,192 -600 1-792
1-338 832 506
826 6-245
-5-532 113
-6
403 260 143
-1-228 725
94 1-117
-1,023
-2,455 -2-147
-308
-1-376 986
-2-584 222
-6-671
899 -522 1-421
-1,349 -6-274
53 2-070
-2,017
-1-475 -150
-1-325
11-188 575 35
10-578
7,104
10-950 9-932 1-018
-4-358 -7-070
7-582 -830
8,412
225 -669 894
-12-929 -2-413
-12-709 2-193
-15-604
-870 1-291
-2-161 -2-078 -6-054
-6-602 -3-840 -2,762
-931 -10 -921
-152 3-642
-5-507 1-713
-3-794
148 -1-304 1-452 2-031
-5-110
-863 1 -813
-2-676
-58 854 -912
-4-585 -2-743 -4,638 2-796
-7-057
-1-158 680
-1-838 276
-1-700
-4-475 -2-556 -1-919
7.3
21.5
1.5 1.8 -.3
20.0 15.5 4.1 .4
7.5 .4
30.7
.9
.9
.1
29.8 18.9 9.5 1.4
8.7 .3
32.8
3.7 4.4 -.7
29.1 15.6 13.6 -.1
6.7 .3
31.1
-.3 -1.8 1.5
31.5 16.7 12.9 1.8
1 2
3
4 5 6
7 8 9 10
-10.2 -7.1 -3.1 9.9 3.5
11.2 10.1 1.1
1.9 2.5 -.6 9.9 6.1
5.3 6.1 -.7
1.5 2.0 -.5 14.4 2.2
6.1 5.7 .3
.6 12 -.7 13 1.3 14
13.9 15 1.2 16
8.8 17 -2.0 18 10.8 19
Banks in U.S. Possessions
1 Gross saving 2 Fixed nonres. investment
3 Net acq. of financial assets 4 Checkable dep.and currency
5 Credit market instruments 6 U.S. govt, securities 7 Tax-exempt obligations 8 Corporate bonds 9 Home mortgages
10 Commercial mortgages 11 Bank loans n.e.c.
12 Miscellaneous assets
13 Net incr. in liabilities 14 Deposit liabilities 15 Miscellaneous liabilities
13 29
517 -4
345 88 -13
7 50 124 89
176
516 55
461
13 29
500 17
244 24 -9 58 50 16 105
239
500 47
453
14 30
522 25
105 25 -5 47 50 50
-62
392
521 50
471
14 30
488 52
-20 -29 -2 84 50
-48 -75
456
488 68
420
15 31
502 123
-35 10 8 29 10
--92
414
502 57
445
15 31
483 75
-65 29 15 -9 15 13
-128
473
483 75
408
16 32
484 185
-397 10 30
-13 10
--434
696
484 750
-266
-.3 1.8
3.5 .9
2.6
-.8 .5
.1
.1
1.3
-2.7
-.8
1.2 -.1
.9
.3
-.3 .1 .1 .2
3 4
5 6 7 8 9 10 11
1.0 1.4
14 15
16 Discrepancy
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1991 Commercial Bankins Subsectors. Continued
SEASONALLY ADJUSTED ANNUAL RATES
Commercial Bankins Subsectors* Continued
Commercial Bankin9 Subsectors* Continued 23 SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS, S BILLIONS 1987 1988 1989 1990
I 1989 | 1990 I 1991 I IV I I II III IV I I II
Domestic Affiliates of Commercial Banks (BHCs)
1 2
3
4 5 6
7 8 9 10
6.0 .3
31.8
2.0 1.4 .5
29.9 19.8 8.8 1.3
8.6 .2
18.1
-.1 .2
-.3
18.2 21.3 -2.5 -.7
9.7 .2
23.7
2.8 1.2 1.6
20.9 8.6 10.1 2.2
10.7 .2
-4.7
-2.4 -2.1 - .2
-2.3 5.4
-20.8 13.1
2.0 5.4 7.1 3.3
-5.1 2.0
25.7 2.8 2.3 30.4 3.4 -16.8
20.0 -10.9
15.1 -.6
14.1
-9.8 -8.6 -1.2
-4.3 -.7
-1.5 -2.1
30.7
-5.9 -.6
-5.3
36.6 -.7
-2.9 40.2
-43.4
.9 -2.7 3.6
-44.3 -7.5
-62.0 25.2
-6.4
-3.7 X
-3.7
-2.7 19.3
-16.5 -5.5
-3.8
_.2 3.4
-3.6
-3.5 -16.7 -9.2 22 .4
9.8 Gross savin9 .2 Fixed nonres. investment
3.8 Net acq. of financial assets
Credit market instruments 4 U.S. 90vt. securities 5 Bank loans n.e.c. 6
Miscellaneous assets 7 Inv.in bank subsidiaries 8 Inv. in finance co.subs. 9 Other 10
-13.4 Net increase in liabilities
12 13 14 15 16
17 18 19
5.2 1.8 3.5 12.8 1.5
6.4 5.2 1.2
-3.6 -5.4 1.7 5.4
-•2
8.1 7.3 .8
3.0 1.2 1.8 1.9 4.4
4.9 .6
4.3
11.4 11.0
.4 -9.0 -18.7
1.1 -1.5 2.6
2.3 5.9
-3.6 -2.9 -1.0
16.7 -2.4 19.1
11.5 1.0
10.5 -4.9 -3.1
-4.1 4.5
-8.5
3.9 -2.1 6.0
-5.4 -26.7
2.7 8.3
-5.6
43.0 39.7 3.2
-17.4 -23.0
17.8 -3.3 21.1
-12.8 5.2
-18.0 -8.3
-21.9
-11.9 -15.4
3.5
11.0 -5.2 16.2 8.1
-26.7
-9.7 7.3
-16.9
-4.4 2.7
-7.2 1.1
-8.2
-1.9 -10.2 8.3
Net interbank claims 12 To domestic banks 13 To foreign banks 14
Corporate bonds 15 Commercial paper lb
Miscellaneous liabilities 17 Equity* etc. 18 Other 19
Banks in U.S. Possessions
Discrepancy
1 2
3 4
5 6 7 r
10 11
12
13 14 '5
. K
K
.1
-1.3 -.8
.1 X
-M
.1
.1 -.1
-.5
-1.3 -.2
-1.0
K
K
.1
1.6 -.2
.6
« .1 X
.2
.3 -•1
1.2
1.6 1.0 .6
-.1
.1
.1
2.1 -.1
1.8 .4 K
K
.2
.6
.6
.5
2.1 .1
2.0
-.1
.1
.1
2.0 .2
.3 X
X
.2
.2 X
-.1
1.5
2.0 .2
1.8
-.1
.1
.1
1.4 .4
-.1 x .2 .5 .4
.7
2.1
i!S
- . i
2.0 .1
1.0 .1
.1
.4
2.0 .2
1.8
.1
.1
-.1 -.1
•2
.6
.1
.9
.1
-.3
1.8
2.0 .3
1.7
-.1
-.4
1.7
2.0
K 8
-.1
1 1
0 5
1 x X
1 X
4
.1
.1
1.9 .3
-.3 .1 .1 X
.1
-.5
1.9 .3
1.6
.1 Gross savins
.1 Fixed nonres. investment
1.9 Net acq. of financial assets .7 Checkable dep.and currency
-1.6 Credit market instruments * U.S. govt, securities .1 Tax-exempt obligations
-.1 Corporate bonds * Home mortgages
Commercial mortgages -1.7 Bank loans n.e.c.
2.8 Miscellaneous assets
9 Net incr. in liabilities 0 Deposit liabilities
1. 3.
-1.1 Miscellaneous liabilities
-.1 Discrepancy
5 6 7 8 9 10 11
13 14 15
bxi_LIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1991 Nonbank Finance Summary
24 Private Nonbank Financial Institutions
UNADJUSTED NET FLOWS- S MILLIONS
1 Gross savin9 2 Fixed nonres. investment 3 Multifamily resid. invest,
4 Net acq. of financial assets 5 Checkable dep.and currency 6 Time and savings deposits 7 Money market fund shares 8 Security RPs 9 Foreign deposits
10 Mutual fund shares 11 Other corporate equities
12 Credit mark.et instruments 13 U.S. 90vt. securities 14 Tax-exempt obligations 15 Corporate and fgn. bonds 16 Mortgages 17 Consumer credit 18 Other loans
19 Reserves at Fed. Reserve 20 Security credit 21 Trade credit 22 Miscellaneous assets
23 Net increase in liabilities 24 Thrift deposits 25 Money market fund shares 26 Security RPs 27 Insur. S pension reserves 28 Corp. equity issues (15
29 Credit market instruments 30 Corporate bonds 31 Mortgages 32 Bank loans n.e.c. 33 Open-market paper 34 Fed. Home Loan Bk. loans
35 Security credit 36 Trade debt 37 Profit taxes payable 38 Proprietor net investment 39 Miscellaneous liabilities
40 Discrepancy
CI) Includes mutual fund shares.
Nonbank Finance Summary
UNADJUSTED NET FLOWS, $ MILLIONS
I 1989 I 1990 I 1991 I IV I I II III IV I I II
ANNUAL FLOWS- $ BILLIONS 1983 1984 1985 1986
Private Nonbank Financial Institutions - Total
-3-276 7-185 -120
115-220 1-908
-4-452 754 84
-2,980
1,180 15-519
97-993 4 7-688 4-834
24.302 -13-428 5-659
28-938
541 -1-754
783 5-644
119.958 -11-085 13-008 16-099 54-253 16,058
13-889 10,021 -101 1.897
11-385 -9-313
7,427 3,632
85 -1-091 7-683
-L265 7-605 -106
99-634 -3-814 -9-963 2-059
-2-061 672
1-598 8-479
76-219 30-459 11-986 12-865 1-060 1-254
18-595
223 -563 290
26,495
100-904 -7-761 35-489
-32-042 49-051 19,922
887 9,610
26 -2-763 2-959
-8-945
-3-845 -1-494
212 -1-949 42-434
688 7-552
98
48-486 3-565
-3-756 -107
-2-848 1-023
1-892 16-506
30-435 15-810 5-541 30-741
-23-210 6-733
-5-180
-100 -1-955 1-245 2-586
51-746 -45-591 -10-470
202 63-053 18-640
13-818 19-089
46 1-550 -310
-6-557
-1-177 1,763
24 7 1-024
10-237
-419 7-811
97
31-065 446
-3-292 3-136 6-599 3-733
2-311 -11-767
56-081 20-037 8-329
27-441 -18,459
2-030 16-703
-300 -3-300 1-000
-23-582
52-765 -31-328 31-254
-10-777 24-513 8-650
17,805 9-227
67 163
16-757 -8,409
2-881 260 188
-1,807 11-126
-1,629 8-246
93
123-661 12-974 -2-065 3-425
-12-130 -4-736
3-803 9-083
113-155 91-879 11-577 22-537
-25-303 2-325
10-140
-200 2-087 875
-2,610
119-053 -21-906 14-008 47-047 39-721 17-205
30-975 16-726
120 1,758
13-158 -787
7-061 977
7 -1-079
-14-963
-1,069 8-400
123
64-396 -14-000
5-988 5-040
16-403 5-633
4-042 6-556
32-325 27-050 12-263 23-709
-35-018 -8-678 12-999
-800 -1-942 1-065 4-086
66-443 -10-489 53-355
-22-647 25-189 29,085
-10-094 7-317
20 -1,887 -5-449
-10-095
-3,673 1,094 -40
1,501 3-162
1,042 8,510
-8
61-119 5-700 7-704 1,250
-7-111 -5,645
1,800 16-743
12-394 10,776 4,456
21,859 -23-245
5-180 -6-632
-400 4-833
625 23,226
64,306 -22-536 -18,892 -13,706 44-523 32,314
-2,061 15-958
-31 372
-6-098 -12,262
9,783 617 19
335 33-910
-5,603 -7-494 -3-702 13,373 -14,576
6.6 9.0
* 350.1
1.5 -3.6 -1.5 9.3
-1.8
2.0 48.3
249.0 87.4 10.2 37.8 67.6 22.2 23.8
1.0 8.4 2.0
35.6
351.9 132.5 -40.4 -1.8 144.9 30.1
14.1 9.0
* -.4 12.6 -7.0
4.1 1.0 -.3 .9
66.8
-.5
-3.4 14.0
.2
504.5 1.4 -.6 5.2 18.0 -.7
2.5 13.3
416.6 122.5 13.2 69.4 99.5 34.0 78.0
.9 -2.3 2.8
47.4
525.1 133.1 54.2 35.5
139.5 36.4
52.6 20.9
.4 1.4
14.2 15.7
6.9 .5
-.3 1.6
65.1
3.0
2.7 19.6
.4
526.8 12.6 9.4 3.1 8.5
-2.2
11.5 35.3
389.6 111.0 40.6 81.5 84.0 43.0 29.6
1.7 18.9 2.2
36.2
557.6 80.0 10.2 -2.3 167.6 96.6
88.0 32.0
.1 2.6
39.1 14.2
23.9 .8 .4
2.0 90.3
13.5
-1.8 1 22.0 2
.4 3
656.5 4 12.3 5 14.2 6 5.1 7 4.4 8 3.1 9
15.7 10 35.2 11
531.9 12 228.7 13 70.9 14 96.0 15 65.0 16 32.8 17 38.6 18
1.7 19 6.7 20 4.9 21
21.3 22
677.3 23 74.8 24 48.3 25 29.5 26
148.6 27 169.3 28
119.5 29 66.7 30
.1 31 4.0 32
28.8 33 19.8 34
1.7 35 1.1 36 .1 37
2.9 38 81.6 39
-3.4 40
Savings Institutions Combined
1 Gross saving 2 Fixed nonres. investment
3 Net acq. of financial assets 4 Checkable dep.and currency 5 Time deposits 6 Security RPs
7 Corporate equities 8 Credit market instruments 9 U.S. govt, securities
10 Tax-exempt obligations 11 Corporate bonds
12 Mortgages 13 Home 14 Multifamily 15 Commercial 16 Farm
17 Consumer install, credit 18 Consumer noninstall.credit 19 Other loans(to business) 20 Open-market paper 21 Reserves at Fed. Reserve 22 Miscellaneous assets
23 Net increase in liabilities 24 Deposits 25 Checkable 26 Small time and savings 27 Large time 28 Security RPs 29 Cr. mkt. instr. 30 Profit taxes payable 31 Miscellaneous liabilities
-2,473 654
•46-932 1-630 -239 -416
-3 -49-584 •18-169
-45 -6-418
•21-936 •13-778 -2-433 -5-726
1
-2-738 -123 -688 533 541
1.139
•42-149 •11-085 2-415
-2,857 •10-643 •15-540 -10-837
95 -4,782
-1-869 839
5-261 -449 2-289 -211
-101 -19-387
313 185
1,045
-15-754 -8-268 -2-173 -5-314
1
-1-278 20
-1-134 -2-784
223 22,897
8,344 -7-761
-576 4-885
-12-070 -1-653 -9,953
78 27-633
-1,849 138
-61,864 -440 210
-4-798
-315 -51-847 -12-019
-64 -2-132
-31-750 -17-073 -6-482 -8,190
-5
-2-772 -164
-2,354 -592 -100
-4-574
-58-584 -45-591
927 -36-426 -10-092
1,482 -10-052
96 -4-519
-1-898 209
-47-639 -1-989 -1,666 -3,870
-511 -38-331 -5-632
178 -1-533
-23-166 -14-162 -2-569 -6-436
1
-2,638 -201
-1-967 -3-372
-300 -972
-44,247 -31-328 -1,553 -21-184 -8-591 -5-299 -9-991
92 2-279
-1,977 673
-44-446 1-411 -473
-4-432
-553 -43,847
-98 85
-6-517
-31-050 -22-803 -2.984 -5-262
-1
-5,152 -267
-2-617 1-769 -200 3,648
-40-800 -21-906 -1-833 -9-422
-10-651 -9-210 -1-686
17 -8-015
-1,996 623
-35-834 -1-261 6-187 2-421
-13 -44-139 -11-607
-219 -1 -437
-25-363 -16-779 -3-063 -5,521
--5,264
-165 -1-850 1-766 -800 1-771
-32-856 -10-489
255 -1-093 -9-651 -9-840
-11-475 22
-1,074
-1,437 1,001
-38,047 415
4-728 -5,424
-410 -36,207 -2-144
-26 -8,303
-20-965 -12-820 -3-055 -5-090
--1,512 -140
-1-607 -1-510 -400 -749
-35-492 -22-536
3-468 -15,146 -10-858 -4,818
-12,638 -52
4-552
1.1 2.8
156.4 2.2 2.8 2.8
.3 134.2 54.6 -.2 10.7
53.5 30.0 7.0 16.6
-11.3 -.1 2.4 2.0 1.0
13.1
159.0 132.5 11.5 85.8 35.3 13.1 -6.6
* 20.0
3.5 3.0
184.1 K
-6.7 4.1
-.2 154.7 24.9 -.3 10.5
86.6 50.9 14.4 21.3
* 25.3
.2 8.7
-1.1 .9
31.3
186.7 133.1 7.9
76.2 49.0 18.5 18.4
a 16.7
9.4 3.3
118.5 3.2 7.2 -.5
~,1 87.9 -1.0
,6 1.4
58.5 33.7 14,5 10.3
.1
19.5 .5
5.6 2.8 1.7
18.9
117.8 80.0 13.0 60.8 6.1
-1.1 18.8
.1 20.0
10.9 1 3.6 2
133.2 3 2.9 4 11.0 5 -2.2 6
.9 7 107.6 8 54.5 9 -.3 10 5.4 11
26.1 12 13.5 13 7.2 14 5.3 15
« 16
11.5 17 -1.8 18 6.7 19 5.6 20 1.7 21
11.3 22
128.4 23 74.8 24 20.5 25 52.5 26 1.8 27
16.2 28 25.0 29
* 30 12.4 31
32 Discrepancy
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Nonbank Finance Summary
SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS, $ BILLIONS 1987 1988 1989 1990
Private Nonbank Financial Institutions
Nonbank Finance Summary
25 SEASONALLY ADJUSTED ANNUAL RATES
I 1989 I I IV I I
1990 I 1991 II III IV I I II
Private Nonbank Financial Institutions - Total
1 2 3
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 33 34
35 36 37 38 39
-19.0 24.1
.7
433.9 -3.7 12.6 -5.0 6.5 -.6
1.1 31.0
393.0 134.2 16.5 98.8 82.2 13.9 47.4
.1 -16.3
3.6 11.4
462.1 64.6 24.0
-20.0 144.7 86.9
107.9 65.5
.4 -3.2 20.9 24.4
-12.1 -.1 -.3
-3.2 69.8
-.6 25.7
.4
442.8 5.8 8.4 1.6 6.9 8.1
6.6 -9.4
406.0 41.8 19.0
140.6 115.6 15.4 73.5
1.1 1.7 6.8 -.8
459.0 67.5 21.9 4.1
186.3 2.7
125.7 46.6
.3 1.4
57.8 19.7
-.1 4.3 .5
5.1 41.0
-13.4 29.2
K
383.0 M
-6.8 4.9 19.7 -3.3
2.8 14.4
333.8 102.0 19.8 98,7 18.8 17.5 77.0
-.1 -1.0 2.8 15.7
432.7 -13.8 90.1 42.2 153.6 42.0
49.7 32.1
N
1.8 26.7
-11.0
14.8 6.3 .6
4.0 43.3
-2.6 31.2
• 2
302.8 13.2
-19.1 8.5
-10.4 .7
9.6 22.3
275.9 158.2 37.4 93,6
-65.9 12.3 40.3
-.4 -3.7 3.4 2.9
324.5 -106.6
70.3 4.4
176.3 64.4
63.5 54.7
.3
.7 32.6
-24.7
4.9 1.5 .7
-3,8 48.8
-15.6 -10.5 7.1 -12.4
-5.7 28.7 -.5
464.8 -.2
-21.6 3.0 13.0
-11.0
4.7 72.2
377.6 185.8 22.0 85.1
-60.4 22.4 122.7
2.2 -7.4 3.1
29.1
516.2 -38.3 68.6 45.7 246.5 75.2
35.4 39.5 -.4 4.2 40.9
-48.8
21.2 14.5
.3 -4.4 51.3
17.4
3.1 30.4 -.4
289,6 -5.8
-36.8 8.2
-28.2 -4.2
6.4 34.7
260.7 102.0 27.6 51.7 23.4 31.5 24.5
.9 16.3 1.2
36.1
276.6 -40.6 80.4
-95.4 171.3 56.3
32.3 40.3
.1 -2.3 16.1
-22.0
-16.4 -6.0
.9 -7.8 101.6
-39.9
-8.0 30.2
.4
145.6 12.4
-25.6 -.4
-12.3 11.4
7.6 65.2
134.3 86.9 38.3 126.8
-107.1 11.8
-22.5
-.4 -21.4
5.0 -30.0
168.8 -185.1
4.3 -.6
237.6 70.4
32.4 74.2
.2 -.6
-10.4 -30.9
-7.9 7.1 1.0 4.1 5.5
-15.4
-5.5 31.2
.4
265.1 .9
-1.3 12.5 33.8 13.8
9.2 -57.5
265.0 77,6 32.9 119.6 -72.3 -4.0 111.1
-1,2 -19.6
4.0 5.4
327.6 -118.3 123.4 -57.1 110.2 49.1
86.8 37.6
.3 2.0 77.5
-30.5
22.7 1.0 .8
-7.2 U6.1
25.4
-.1 33.0
.4
511.1 45.1
-12.6 13.7
-35.1 -18.1
15.2 46.7
443.5 366.2 50.9 76.2
-107.7 10.0 47.9
-.8 9.8 3,5 .1
524.9 -82.3 73.0 170.8 186.3 81.8
102.4 66.6
.5 3.8
47.0 -15.5
21.4 3.9
* -4.3 -28.0
-19.6
5.3 33.6
.5
107.8 -46.5 28.1 20.2 46.0 15.1
16.2 27.8
51.6 57.9 27.1 94.1
-120.9 -9.7 3.1
-3.2 11.4 4.3
-63.3
121.6 -51.0 148.7 -52.3 73.8 91.3
-12.6 31.1
.1 1.0
-16.9 -27.9
-17.0 4.4 -.2 6.0
-69.4
-14.9
-7.8 34.0
« 204.5 21.6 18.7 5.0
-30.9 -14.8
7.2 66.2
75.9 71.7 34.8 93,5
-107.9 5.6
-21.9
-1.6 4.4 2.5
50.3
217.2 -92.9 -24,8 -58.2 162.1 125.5
-31.6 61.3 -.1 -5.8
-34.0 -52.9
36.1 2.5 .1
1.3 96.9
-29.1
Gross savin9 Fixed nonres. investment Multifamilv resid, invest.
Net acq. of financial assets Checkable dep.and currency Time and savings deposits Money market fund shares Security RPs Forei9n deposits
Mutual fund shares Other corporate equities
Credit market instruments U.S. sovt. securities Tax-exempt obli9ations Corporate and fgn. bonds Mortgages Consumer credit Other loans
Reserves at Fed, Reserve Security credit Trade credit Miscellaneous assets
Net increase in liabilities Thrift deposits Money market fund shares Security RPs Insur. 8 pension reserves Corp. equity Issues (1)
Credit market instruments Corporate bonds Mort939es Bank loans n,e.c. Open-market paper Fed. Home Loan Bk. loans
Security credit Trade debt Profit taxes payable Proprietor net investment Miscellaneous liabilities
Discrepancy
1 2 3
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 33 34
35 36 37 38 39
40
(1) Includes mutual fund shares.
Savings Institutions Combined
1 2
3 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
-.4 3.3
136.7 -2.9 -8.1 -2.5
.2 136.8 55.3
K
9.5
65.5 55.5 4.8 5.2
* 8.2
-1,8 -.2 .3 .1
13.2
131.9 64.6 7.1
49.0 8.5 28.7 27.7
K
11.0
-8.5
-4.0 3.5
123.6 1.3
-3.4 2.6
.4 120.4 10.6
.2 6.2
90.5 80.0 7.3 3.2
-9.9
-1.2 2.6 1.6 1.1 1.1
120.0 67.5 8.3 47.7 11.6 15.8 21.8
.1 14.8
-11.1
-6.9 3.3
-83.4 -.9
-4.8 7.0
.3 -90.9 -58.9 -.2
-17.0
-8.4 3.4
-4.8 -7.1
M
-3.6 -.3 -2.2 -.3 -.1 6.0
-71.2 -13.8
K
1.9 -15.8 -45.7 -15.5
2 3.7
2.0
-7.6 1.9
-148.7 -1.5
.4 -13.3
-1.5 -153,4 -17.4
.4 -9.1
-101,7 -62.3 -14.2 -25.2
» -11.8 -.6 -8.1 -5.0 -.4 21.0
-135.3 -106.6 -3.0
-62.1 -41.4 -14,7 -31.7
.3 17.4
3.9
-181 1
-1 7
-31
-88.4 -55.6 -9.7
-23.0
-11.4 -.4
-4.6 4.4 2.2 10.9
-162.3 -38.3 10.1 -3.9
-44.5 -62.2 -55.4
.3 -6.8
6.6
-7.5 3.4
15.8 2.0 4.8
-14.1
-.4 -56.6
.7 16.2
-59.5 -30.2 -8.7
-20.6
5.4 .2
-2.9 -16.5
.9 79.2
28.1 -40.6
3.7 1.1
-45.4 -6.6
-24.2 .3
99.2
1.5
-7.4 .6
-246.6 -.5
-2.4 -21.2
-1.3 -210.4 -49.7
-.3 -7.9
-127.4 -68.9 -25.9 -32.5
-17.6 -1.0 -10.1
3.4 -.4
-10.4
-233.4 -185.1
-6.4 -145.3 -33,5
5.9 -47.0
-7
^7.6 .8
-192.0 -7.3
.3 -9.3
-2.0 -168.6
.7 -13.0
-95 -58 -10, -26
-7.9 2.7
-1.3 -8.6
-178 2
-31
-124,9 -91.8 -11.9 -21.1
-14.5 -.8
-7.2 -16.2 -1.2 -3.8
-178.4 -118.3 -2.6
-73.3 -42.4 -21.2 -36,2
.4 -3.2
5.1
-20.6 -.9
-12,0 9.4 -.8 19.0
-157.4 -82.3 -6.9
-31.1 -44.3 -36.8 -19.4
-18.9
-8.0 2.5
-147.6 -.9 20.8 -3.3
-.1 -154.8 -48.0
-.9 6.8
-97.6 -63.9 -12.3 -21.4
-10.5 -.7 -6.0 2.0
-3.2 - 6,1
-5.7 Gross saving 4.0 Fixed nonres. investment
-135. -51.
7. -22 -35. -39. -31
-151.3 Net acq. of financial assets 2.8 Checkable dep.and currency 15.1 Time deposits
-23.8 Security RPs
-1.6 Corporate equities -147.6 Credit market instruments -10,1 U.S. govt, securities -.1 Tax-exempt obligations
-32,3 Corporate bonds
-84.3 -52.0
-2o!l
Mortgages Home Multifamlly Commercial Farm
5 6
7 8 9 10 11
12 13 14 15 16
-1. 5,
.7
.0
.3
.7
.6
.4
.7
.1 -13.8
Consumer Install, credit 17 Consumer noninstall.credit 18 Other loans(to business) 19 Open-market paper 20
Reserves at Fed. Reserve 21 Miscellaneous assets 22
23 24 25 26 27 28 29 30 31
1.4
-141.1 Net increase in liabilities -92,9 Deposits
3.5 Checkable -60.6 Small time and savings -35.9 Large time -19.3 Security RPs -57.0 Cr. mkt. instr.
-.2 Profit taxes payable 28.3 Miscellaneous liabilities
.5 Discrepancy 32
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION,
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1991 Savings Institutions
26 Sector Statements of Saving and Investment
Savings Institutions
UNADJUSTED NET FLOWS- $ MILLIONS UNADJUSTED NET FLOWS, $ MILLIONS
I 1989 I 1990 | 1991 I IV I I II III IV I I II
ANNUAL FLOWS- $ BILLIONS 1983 1984 1985 1986
Savings and Loan Associations (1)
1 Gross saving 2 Fixed nonres. investment
3 Net acq. of financial assets 4 Checkable dep. 8 currency 5 Time deposits 6 Fed. funds 8 security RPs
7 Credit market instruments 8 U.S. Treasury securities 9 U.S. govt, agency secur. 10 Tax-exempt obligations 11 Corporate and fgn. bonds 12 Mortgages 13 Consumer credit 14 Other loansCto business) 15 Open-market paper 16 Reserves at Fed. Reserve 17 Miscellaneous assets
18 Net increase in liabilities 19 Deposits 20 Checkable 21 Small time and savings 22 Large time 23 Security RPs
24 Credit market instruments 25 Corporate bonds 26 Bank loans n.e.c. 27 Fed. Home Loan Bk. loans
-3-420 -116
-46,152 739
-419 -1-693
-46-405 750
-17-715 27
-5-677 -21-926 -2-200
-688 1,024 541
1-085
-2,825 40
-1,965 -130 1-390
-6,756
-18-319 2-778
-5,770 226
2-046 -14,701
-810 -1,134 -954 223
21,627
-2,770 -695
-52-567 325
-710 -2,157
-44-036 -1-500 -6-949
-146 -980
-29-088 -2-019 -2-354 -1-000
-100 -5,889
-2,781 -651
-48-194 -1-626 -293
-3-291
-40-305 -1-894 -4-662
-12 -1,711
-24-136 -4-923 -1,967 -1-000
-300 -2,379
-2-825 -220
-41-461 504
-456 -2,838
-42-688 462
-936 7
-6,834 -30-862 -3-158 -2-617 1,250 -200 4,217
-2-807 -258
-43,143 -1-056
839 -1-312
-41,350 -947
-12,449 23
-1-969 -23,508
475 -1-850 -1-125 -800 536
-2-325 125
-40-019 316
-581 -2-047
-37-585 2,226
-6-743 -29
-8-778 -20-612
-942 -1,607 -1-100 -400 278
-42-334 738 -50-814 -46-301 -38-944 -40-698 -38,312 -13-371 -15,788 -39,863 -32,465 -22-204 -18-572 -24-121
-960 -2-029 -1-730 -3,003 -1-810 -981 -6 1-266 -1-970 -30,214 -21,663 -16-142 -14-673 -19-993
-13-677 -11-789 -7,919 -7,799 -4,252 -2,918 -4,122 -15,597 -2,011 2,403 -5,227 -7,523 -9-743 -3,251
28 29
Profit taxes payable Miscellaneous liabilities
•10-579 -1-375
-149 -9-055
95 -2,882
514
-8,097 -782 -226
-7,089
78 26,556
-162
-11-430 -3-151
-344 -7,935
96 -2,020
-322
-9,442 -1,145
-437 -7,860
92 741
-237
-2-196 -480 -419
-1-297
17 -7,038
-88
-11-216 -1-080
-300 -9-836
22 -1,189
-104
-11,972 124
-500 -11-596
-52 1-084
-743 30 Discrepancy
31 Memo: Acq.of credit mkt.inst. -46-405 -18,319 -44,036 -40-305 -42-688 -41,350 -37,585
(1) Includes all savings and loan associations and federal savings banks insured by SAIF (formerly FSLIC).
.5 1.9
121.4 2.4 1.2 2.3
103.3 11.6 30.1
.1 7.8
47.1 5.8 2.4
-1.7 1.0
11.3
125.2 101.8 6.4
65.7 29.7 13.9
-6.2 .1 .3
-6.6
X
15.8
2.4
103.3
2.2 2.0
158.1 1.0
-5.5 2.4
129.3 7.9 16.4 - .2 12.0 77.5 8.5 8.7
-1.4 .9
30.0
161.9 112.4 3.6
67.5 41.2 18.8
17.2 1.9 .8
14.5
K
13.4
4.0
129.3
6.0 1.9
81.3 1.3 2.3
-4.5
64.8 -4.6 1.2 .4
3.9 47.8 10.8 5.6 -.2 1.7
15.8
82.9 51.7 6.6
43.8 1.3
-1.9
17.3 4.6
* 12.7
.1 15.8
5.7
64.8
8.1 1 2.0 2
85.8 3 1.9 4 4.0 5
-4.8 6
75.2 7 2.0 8
42.0 9 -.2 10 7.2 11 10.7 12 5.0 13 6.7 14 1.8 15 1.7 16 7.7 17
85.1 18 41.5 19 9.6 20
36.3 21 -4.4 22 14.2 23
20.9 24 4.9 25 .3 26
15.6 27
* 28 8.6 29
5.4 30
75.2 31
Mutual Savings Banks (2)
1 Gross saving 2 Fixed nonres. investment
3 Net acq. of financial assets 4 Checkable dep.and currency 5 Fed. funds & security RPs 6 Corporate equities
7 Credit market instruments 8 U.S. Treasury securities 9 U.S. govt, agency secur. 10 Tax-exempt obligations 11 Corporate and fgn. bonds 12 Mortgages 13 Consumer credit 14 Open-market paper 15 Miscellaneous assets
16 Net increase in liabilities 17 Deposits 18 Checkable 19 Small time a savings 20 Large time 21 Security RPs 22 Fed. Home Loan Bank loans 23 Miscellaneous liabilities
634 385
-3,249 691
-296 -3
-3,357 367
-549 -72 -741
-1,620 -251 -491 -284
-2-515 -714 2-655
-6-202 2-833
57 -258
-1,600
631 396
-415 -719 2,234 -101
-2,300 586 287 -41
-1,001 -1-497 1,196
-1,830 471
-294 427 562 248
-383 358
-1,856 777
588 408
-13,601 -465
-1,843 -315
-10 -168 -569
-3,758 82
-1,152 -3-932 -1,247
408 -810
-12-370 -9-928 1-965
-9,696 -2-197
-921 1-378
-2,899
544 418
-1-019 -463 791
-511
-1,617 457 -24 190 178
-934 888
-2-372 781
154 37
1,557 -731 -789 -72
-549 738
501 430
-3,823 1,107
-1-553 -553
-2,455 148 232 78
317 -1-573 -2,176
519 -369
-3-056 -602 -429 6,320
-6-493 -1-687
510 -1-277
457 400
-1-297 -505 1-778 -13
-2,980 525
-527 -242 532
-2-394 -3-765 2-891
423
-1-158 -317
53 6,378
-6-748 -97
-259 -485
464 375
-7,063 299
-1-000 -410
-4-299 1,060
-1,164 3
475 -2-401 -1,862
-410 -1,653
-6,580 -7-015 2-333
-2-725 -6-623 -1-567 -666 2,668
-.3 .4
19.3 -.7 -.6 .3
18.8 3.8 6.0 -.3 3.0 3.6 -.9 3.6 1.4
18.2 15.9 2.8 7.5 5.6 -.8 -.4 3.6
-.2 .5
10.4 -1.3 1.3 -.2
10.1 -.1 .4
-.1 -1.5 6.9 4.2 .3 .4
10.2 7.8 2.8
-2.6 7.6 -.3 1.2 1.5
1.9 .6
12.7 1.3 .3
-.1
9.7 -.6 -.7 .2
-2.5 7.6 2.6 3.0 1.5
10.6 5.4 3.3
-2.4 4.5 .8
1.5 2.9
2.2 1 .7 2
19.3 3 .3 4 * 5 .9 6
17.4 7 1.4 8 5.4 9 -.1 10
-1.8 11 8.5 12 .3 13
3.8 14 .7 15
14.4 16 6.1 17 7.5 18
-7.3 19 5.9 20 2.0 21 4.2 22 2.1 23
24 Discrepancy 983 356 1-411 1-299
(2) Includes all federal and mutual savings banks insured by BIF (formerly FDIC).
Credit Unions
1 Gross saving 2 Fixed nonres. investment
3 Net acq. of financial assets 4 Checkable dep. 8 currency 5 Time deposits 6 At banks 7 At savinss and loans 8 Fed.funds 8 security RPs
9 Credit market instruments 10 U.S. 90vt. securities 11 Treasury issues 12 Agency issues 13 Home mortgages 14 Consumer credit 15 Miscellaneous assets
16 Net increase in liabilities 17 Shares/deposits 18 Checkable 19 Small time 8 savings 20 Large time 21 Miscellaneous liabilities
313 385
2,469 200 180 154 26
1,573
178 -1-022 -705 -317 1,610 -410 338
2-700 3,000
720 2-079
201 -300
325 403
7,641 400 899 199 700
4,311
1,232 2,432 -874 3,306 444
-1,644 799
7,900 7,600 891
6,607 102 300
333 425
4-304 -300 920 676 244
-798
2,357 757
-954 1,711 1,270 330
2,125
4,600 4,200
692 3-484
24 400
339 442
1-574 100
-1,373 -680 -693
-1,370
3,591 491
-953 1-444 1-904 1-196 626
1,900 1-100 -107 1,210
-3 800
347 463
838 -200 -17 137
-154 -41
1,296 -4
-966 962
1,385 -85
-200
1,200 900 406 400 94 300
354 481
8,606 300
5-348 3-009 2-339 1,955
191 1,791 591
1-200 539
-2-139 812
9,000 8-400 1,183 7-202
15 600
424 501
9-035 -200 5-309 3,127 2,182
-2,377
5,677 2,477 817
1-660 2,048 1-152 626
9-400 8-600 1,141 7-572 -113 800
.9
.5
15.7 .4
1.6 K
1.6 1.1
12.1 3.1 1.4 1.7 2.8 6.2 .4
15.6 14.9 2.3 12.6
K
.7
1.5 .6
15.6 .4
-1.2 -.8 -.4 .3
15.3 .4 .8
-.4 2.2 12.7
.8
14.7 12.9 1.5
11.3 .1
1.8
1.5 .8
24.5 .7
5.0 2.3 2.6 3.7
13.4 3.7 2.6 1.1 3.2 6.6 1.7
24 .2 22.9 3.1 19.4
.3 1.3
.6 1
.9 2
28.1 3 .7 4
7.1 5 3.8 6 3.3 7 2.5 8
15.0 9 3.7 10 1.9 11 1.8 12 6.9 13 4.4 14 2.9 15
28.9 16 27.2 17 3.4 18
23.5 19 .3 20
1.7 21
Discrepancy
LATEST QUARTER BASED ON INCOMPLETE INFORMATION. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Savin9s Institutions
SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS- $ BILLIONS 1987 1988 1989 1990
Savings Institutions
Sector Statements of Savin9 and Investment 27
SEASONALLY ADJUSTED ANNUAL RATES
I 1989 I I IV I I
1990 I 1991 II III IV I I II
Savings and Loan Associations (1)
1 2
3 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
-3.1 1.5
97.6 -2.3 -8.5 1.0
93.3 8.1
37.2 .1
11.2 35.3 2.8 -.2
-1.0 .1
14.0
95.2 41.3 -.3
48.9 -7.2 26.3
19.6 4.4
-1.1 16.3
X
8.0
-7.0
93.3
-7.0 1.2
87.0 -.1
K
2.1
86.3 -8.6 21.7
.3 7.7
60.2 1.7 2.6 .8
1.1 -2.6
83.8 38.8
.9 45.9 -8.0 13.7
19.9 1.9 .3
17.8
.1 11.4
-11.4
86.3
-10.2 .4
-88.9 -.1
-2.1 1.9
-93.8 -6.9
-47.0 -.3
-14.6 -17.6 -4.0 -2.2 -1.1 -.1 5.3
-78.1 -26.2 -8.3 18.7
-36.6 -42.8
-14.1 -3.4 -1.1 -9.6
# 2
4.8
.1
-93.8
-11.2 -1.5
-144.2 -.9 -.1
-15.0
-145.3 -.2
-18.3 .1
-7.5 -98.8 -10.9 -8.1 -1.7 -.4 17.6
-135.3 -110.3
-8.6 -70.0 -31.8 -12.4
-31.2 -5.6 -1.4
—24.2
.3 18.2
-.8
-145.3
-13.7 -.5
-184.6 3.0
-3.1 -1.4
-198 . 6 3.0
-70.9 .1
-29.8 -87.7 -7.5 -4.6 -1.1 2.2
13.3
-169.3 -53.3 -4.8 7.9
-56.5 -62.4
-56.2 -6.0 -.6
-49.5
.3
2.1
-198.6
-7.9 -.5 5.3
-29.0
-56.7 11.1
-23.1 .9
20.0 -58.8
-2.9 -4.0
.9 72.2
3.0 -203.3 -63.3 -159.7 -2.9 -11.4
-11.1 -2.8
-210.3 1.3
-3.3 -13.6
-179.0 -6.0
-27.8 -.6
-4.7 -116.4 -13.5 -10.1
-21.8 -38.6 -8.0
-15.8 -1.3 -.9
-13.6
.3 89.8
-11.1 -2.6
-192.8 -6.5
.4 -12.1
-11.3 -.9
-11.2 -1.0
-9.3 Gross s a v m 9 .5 Fixed nonres. investment
-162. -7 .
-18.
-121.3 -26.9
9.6
-53.5 -14.8 -1.4
-37.3
.4 -.1
-165.8 -172.6 -160.1 Net acq. of financial assets 2.0 -4.2 1.3 Checkable dep. S currency
-2.6 3.3 -3.4 Time deposits -5.5 -7.2 -13.5 Fed. funds a security RPs
-183.4 -147.9 -153.2 Credit market instruments
-.6 -1.3
-56.7 -179.0
-11.1 -96.5 -19.3 -7.2 -1.9 -1.2
-11.0
-185.2 -129.6 -11.4 -84.0 -34.3 -20.9
-31.9 -3.9 -1.7
-26.3
.4
-3.1
-.9
-162.3
1.8 -3.7
x -34.1
-123.4 -11.0 -12.0 -1.0 -.8
24.4
-155.8 -88.7 -8.6
-52.9 -27.3 -30.1
-23.4 -2.2 -1.7
-19.5
-13.6
-.4
-183.4
-3.8 -49.8
.1 4.4
-94.0 5.1
-6.0 - 4 . - 3 .
-13.
-162.8 -74.5
1.3 -72.5 -3.2
-39.0
-29.5 -2.5 -1.2
-25.7
.1 -20.0
-.4
-147.9
-35. - 8 2 . - 9 . -7.1 -.5
-1.6 10.4
U.S. Treasury securities U.S. sovt. agency secur. Tax-exempt obligations Corporate and f9n. bonds Mortgages Consumer credit Other loansCto business) Open-market paper
Reserves at Fed. Reserve Miscellaneous assets
-153.2 Net increase in liabilities -96.7 Deposits -4.7 Checkable
-80.8 Small time and savings -11.2 Large time -13.0 Security RPs
-55.6 Credit market instruments -2.1 Corporate bonds -2.0 Bank loans n.e.c.
-51.5 Fed. Home Loan Bk. loans
-.2 Profit taxes payable 12.3 Miscellaneous liabilities
-3.0 Discrepancy
-153.2 Memo: Acq.of credit mkt.inst.
3 4 5 6
7 8 9
10 11 12 13 14 15 16 17
18 19 20 21
25 26 27
29
30
31
(1) Includes all savings and loan associations and federal savings banks insured by SAIF (formerly FSLIC).
Mutual Savings Banks (2)
1 2
3 4 5 6
7 8 9 10 11 12 13 14 15
16 17 18 19 20 21 22 23
1.8 .9
23.6 -.6
-1.9 .2
25.6 1.5 5.3 _ 2
-1.7 19.7 -.4 1.3 .2
21.1 10.0 5.6
-11.0 15.3 2.4 8.1 .6
2.0 1.3
22.3 1.2 .4 .4
17.8 -1.6 -1.8 -.1
-1.5 22.2 -.3 .8
2.5
21.8 16.4 5.9
-8.5 19.0 2.1 1,9 1.4
2.2 1.5
-3.4 -1.4 2.0 .3
-4.8 -1.2 -1.4
.1 -2.4 1.7
-2.5 .8 .5
-2.7 3.8 7,2
-25.4 22.0 -2.9 -1.4 -2.2
2.3 1.7
-18.9 -.5 -.4
-1.5
-16.5 .6
-3.3 .3
-1.7 -7.9 -1.3 -3.3
.1
-15.6 -10.1
3.7 -3.9 -9.9 -2.3 -.5
-2.7
2.5 1.5
15.7 -3.1 2.6
K
-8.2 1.5
-2.2 -.3
-1.9 -6.6 -4.3 5.6
-7.0
12.7 -4.4 12.4 29.5 12.7
.2
.7
2.5 1.6
3.1 2.7 1.9 -.4
-12.3 2.3 1.1 - .2
-3.7 -5.3 5.9
-12.5 11.2
3.6 2.6 3.3 6.6
-7.3 1.4
-8.3
2.4 1.6
-50.4 -1.6 -6.1 -1.3
-36.7 -2.3
-15.0 .3
-3.2 -15.5 -4.4 3.5
-4.8
-45.5 -37.2
3.3 -33.8 -6.7 -3.7 6.5
2.2 1.7
-10.0 -1.7 5.3
-2.0
-13.1 1.8 -. 1
.8 -1.9 -4.6 5.3
-14.4 1.5
-5.3 -1.8 7.9
-1.7 -8.1 -.3
-4.2
2.0 1.7
-18.1 -1.5 -2.6 -2.2
-4.1 .6 .9 .3
2.3 -6.3
-12.2 10.3 -7.6
-15.0 -3.8
.2 13.5
-17.5 -6.7 4.0
1.8 1.6
.7 3.9 .2
-.1
-15.3 2.1
-2.1 -1.0 2.4
-8.9 -13.8
6.0 11.9
1.3 .2
1.5 31.2
-32.5 -.4
-2.2
1.9 1.5
-24.8 1.4
-2.8 -1.6
-12.9 4.2
-4.7 K
3.4 -9.4 -6.9
.4 -8.8
-22.9 -26.0
4.6 -6.4
-24.2 -6.3 -1.4
Gross saving Fixed nonres. investment
Net acq. of financial assets Checkable dep.and currency Fed. funds 8 security RPs Corporate equities
Credit market instruments U.S. Treasury securities U.S. govt, agency secur. Tax-exempt obligations Corporate and fgn. bonds Mortgages Consumer credit Open-market paper
Miscellaneous assets
Net increase in liabilities Deposits
Checkable Small time & savings Large time
Security RPs Fed. Home Loan Bank loans
1 2
3 4 5 6
7 8 9 10 11 12 13 14 15
16 17 18 19 20 21 22
Miscellaneous liabilities
.4 5.6 5.2 3.4 .8 2.3 Discrepancy
(2) Includes all federal and mutual savings banks insured by BIF (formerly FD I C ) .
Credit Unions
1 2
3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21
.9
.9
15.6
-.4 .3 .1
-1.6
17.8 3.3 3.3
K
10.5 4.0
-1.0
15.7 13.3 1.8
11.1 .3
2.4
1.0 1,0
14.3 .2
-3.5 -2.1 -1.3
.1
16.3 .8
2.5 -1.7 8.2 7.3 1.1
14.4 12.4 1.5
10.3 .6
2.0
1.2 1.4
8.8 .6
-2.7 -.9
-1.8 3.1
7.7 -2.4 -1.6 -.9 7.6 2.5 .2
9.6 8.6 1.4 6.5 .7
1.0
1.3 1.7
14.4
-.4 .3 .1
2.1
8.5 3.7
-3.7 7.4 5.0 -.2 3.4
15.6 13.8 1.9
11.7 .2
1.8
1, 1
18 1 2, 1
6
4 -1
--5 -4 19 19 3, 15.
.3
.5
.8
.1
.1
.5
.5 •2
.9
.0
.7
.2
.9
.1
.6
.8
.4
.0
.8
.6
.4
.6
1, 1.
20,
-, -, -1,
13,
12 8
-5 13 4
--4 21 20 3 16
1
.3
.6
.6 ,2 .5 .4 .9 .0
.4
.3
.5
.8
.6
.5 •2
.6
.1
.4
.3
.4
.5
.7
1, 1,
14,
-, 1,
-1,
5 1
-4 5 4
-9 15 11 1 9
3
.3
.7
.1 ,2 .0 .8 .1 .5
.3
.4
.0
.5
.5
.7
.7
.3
.7
.8
.9
.1
.6
.8
1 1
10
-, -2
6 2
-3 5 6
-1 5
12 13
12
-1
.4
.8
.8
.9 x .4 .5 .5
.8
.0
.7
.7
.0
.3
.7
.1
.2
.8
.3 M
.1
.9
1 1
11
-, 1 1
-, -< 9 2,
-1 4 4 1 2
13 10 1 8
3
1
.4
.9
.9
.5 ,2 .5 .2 .5
.5
.9
.7
.7
.9
.6
.2
.4
.2
.5
.3
.4 •2
.0
1, 1,
24,
-, 17, 10, 7 3,
8 5,
5 5
-2, -4
25 23, 4 18
2,
1
.4
.9
.3
.6
.5
.0
.5
.7
.4
.6
.1
.5
.4
.6
.7
.8 ,2 .5 .7 .1 .6
.1
1, 2<
33,
18, 10, 7,
-7,
18, 8, 3 5 7 2, 3,
35 29 3.
26,
-, 5
1
.7
.0
.6
.2
.5
.6
.9
.5
.6
.4
.2
.3
.5
.6
.8
.0
.9
.6
.7
.5 >2
.2
Gross saving Fixed nonres. investment
Net acq. of financial assets Checkable dep. 8 currency Time deposits
At banks At savings and loans
Fed.funds 8 security RPs
Credit market instruments U.S. govt, securities
Treasury issues Agency issues
Home mortgages Consumer credit
Miscellaneous assets
Net increase in liabilities Shares/deposits
Checkable Small time 8 savings Large time
Miscellaneous liabilities
Discrepancy
1 2
3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21
22
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12. 1991 Insurance and Pension Funds
28 UNADJUSTED NET FLOWS- $ MILLIONS
Sector Statements of Savins and Investment
Insurance and Pension Funds
UNADJUSTED NET FLOWS, $ MILLIONS
I 1989 I I IV I
1990 I 1991 II III IV I I II
ANNUAL FLOWS- $ BILLIONS 1983 1984 1985 1986
Life Insurance Companies
1 Gross saving 2 Fixed nonres. investment
3 Net acq. of financial assets 4 Checkable dep. S currency 5 Money mkt. fund shares 6 Mutual fund shares 7 Other corporate equities
8 Credit market instruments 9 U.S. sovt. securities 10 Treasury issues 11 Agency issues 12 Tax-exempt obligations 13 Corporate and f9n. bonds 14 Mortgages 15 Open-market paper 16 Policy loans 17 Miscellaneous assets
18 Net increase in liabilities 19 Life insurance reserves 20 Pension fund reserves 21 Profit taxes payable 22 Miscellaneous liabilities
-198 1,430
30-843 599 260 442
1-082
26-801 5-165
176 4-989
46 12-151 6-010 2-599 830
1-659
28-091 6-629
20-788 25 649
-203 1,455
35-309 -117 710 599
1,606
31-467 10-295 6-265 4-030 294
13-212 6-068
-2,071 3-669 1-044
37.816 9-080
27-292 25
1,419
-185 1-483
35-823 4
-209 709
1,178
33-317 3-679 -202 3-881 1-641
16-377 4,584 5-000 2,036 824
37,213 9-380
26-793 25
1,015
-170 1,506
27-897 6
988 866
1,049
23,389 7-423
954 6-469 855
14-884 1-197 1-533
-2-503 1,599
29-861 8-000 20-985
25 851
-152 1-534
19-005 9
800 550 413
15,283 5-042 -783 5-825
490 11-361 1,272
-3-803 921
1,950
18-268 6-500 13-164
-26 -1,370
-135 1-500
33,546
-1,408 749 751
26-983 12-000 5,000 7,000 1-000
10-621 -4,230 4-342 3-250 3,655
29-086 9-359 19-675
-19 71
6 1-450
8-864
-500 550 -50
5-964 4.750
750 4-000
-10,100 -3-886 -8-750 3-750 1-900
12-450 4-500 8-427
-27 -450
3.3 .7
59.1 -.6
-1.9 -.4 3.4
52.5 19.3 12.1 7.2 .9
16.7 9.0 5.3 1.1 6.1
55.8 7.8
38.8 -.1 9.2
1.1 2.1
62.5 .7
2.2 .5 .3
54.1 23.6 12.6 11.0 -1.3 23.7 5.7 1.9 .4
4.8
66.3 5.0
46.7 -.2 14.8
.3 3.3
89.9 .5
2.1 1.1 4.8
74.4 23.0 10.5 12.5 1.0
37.8 15.1 -2.3 -.1 7.0
88.3 10.4 63.4
* 14.4
-3.2 1 4.0 2
104.7 3 .7 4 .9 5
10.2 6 -2.1 7
86.9 8 17.9 9 7.3 10 10.6 11 2.0 12
40.8 13 22.0 14 4.5 15 -.3 16 8.0 17
105.1 18 17.2 19 82.5 20
* 21 5.4 22
23 Discrepancy 288 -2-423
Private Pension Funds (1)
1 Gross saving 2 Fixed nonres. investment
3 Net acq. of financial assets 4 Checkable dep. and currency 5 Time deposits 6 Money mkt. fund shares 7 Mutual fund shares 8 Other corporate equities
9 Credit market instruments 10 U.S. government securities 11 Treasury issues 12 Agency issues 13 Corporate 8 foreign bonds 14 Mortgages 15 Open-market paper 16 Miscellaneous assets
524 1,413
7-836 -144 -699 494 738 988
3-742 5 3,763
4,265 -502 686 169
-876 2-717
539 1,437
-2,321 -614
-5,653 1-349 999 322
-2,965 1-463 1,232 231 335 416
-5-179 4.241
557 1,464
10,680 -45 687 102
1,183 901
3-042 3,798 2,614 1,184 -487 -514 245
4,810
571 1,486
-22,972 7
-992 2,148 1-445
-13 - 588
3,911 925
4-302 -3,377 3-495 —212 -297
-15,903
588 1,513
3,807 14
443 2,625 3,253
-1,793
5-929 3-716 3-034
682 1,575 -144 782
-6,664
603 1,536
-19-095 -771
-7,143 3,632 3-293
-2,804
-4-494 2,125
-1-085 3-210
92 -129
-6,582 -10-808
619 1-562
14,005 -189
-1-552 750
1,250 6-702
2,118 2,721 3,039 -318 1,131 -118
-1,616 4,926
.5
.8
59.1 .8
7.5 .4
2.4 4.5
29.9 12.0
.4 11.6 10.4
.7 6.8 13.6
.6 2.2
42.1 .5
3.3 3.0 2.1 5.4
21.3 7.3 11.6 -4.3 10.2
.1 3.8 6.4
.8 3.5
40.7 .9
7.6 1.0 10.4 -9.0
26.6 8.0
-1.0 9.0 10.4
.4 7.8 3.1
1.1 1 4.2 2
-8.7 3 -.5 4 -2.6 5 4.2 6 5.4 7
-8.0 8
-.8 9 4.8 10 8.2 11
-3.4 12 -2.2 13 -.2 14
-3.2 15 -6.3 16
17 Discrepancy -889 -898 -907 -915
(1) Includes Federal Employees' Retirement Thrift Savings Fund.
State and Local Government Employee Retirement Funds
1 Net acq. of financial assets 2 Checkable dep. and currency 3 Time deposits 4 Corporate equities
5 Credit market instruments 6 U.S. government securities 7 Treasury issues 8 Agency issues 9 Tax-exempt obligations 10 Corporate £ foreign bonds 11 Mortgages
19,000 -200
-1-800 9-000
12,000 517
-2-583 3-100
40 11,041
402
15-000 500 500
4-400
9,600 10-300 8-000 2-300
300 -1,106
106
16,200 500
1,800 2.100
11-800 5-400 4,000 1-400
50 6,266
84
18,500 300
3-700 3,500
11,000 6,200 2-200 4-000 -300 5,032
68
16,250 200 300
6-750
9-000 -250
-1,000 750 100
9-040 110
15,250 200 300
1,000
13-750 6-500 1,000 5,500
-7,257 -7
17,591 200
1-800 2,000
13-591 7,200 1-200 6-000
-6,316 75
39.2 .4
2.8 20.0
16.0 17.0 12.0 4.9
-1.1 -.7 .9
45.7 .6
3.2 7.3
34.7 23.1 19.0 4.1 -.5 11.5
.6
53.1 .4
1.4 28.6
22.9 12.3 15.0 -2.7 -.4 10.9
.1
57.6 -.3 3.5
23.1
31.3 20.7 12.1 8.6 -.3 10.7
.3
1 2 3 4
5 6 7 8 9 10 11
Other Insurance Companies
1 Gross saving 2 Fixed nonres. investment
3 Net acq. of financial assets 4 Checkable dep. & currency 5 Security RPs 6 Corporate equities
7 Credit market instruments 8 U.S. govt, securities 9 Treasury issues 10 Agency issues 11 Tax-exempt obligations 12 Corporate and fgn. bonds 13 Commercial mortgages 14 Trade credit
15 Net increase in liabilities 16 Corporate equity issues 17 Profit taxes payable 18 Policy payables
962 558
9,285 97
-85 1,008
7-482 4,189 3,844
345 263
2,844 186 783
8,080 452 27
7,601
664 568
9,078 81
-210 1,346
7,571 4-033 3-750 283 583
2-805 150 290
8-577 489 33
8,055
696 580
9,608 70 18
1,440
6-835 3-491 3,250 241 890
2,330 124
1,245
9-036 455 36
8,545
640 589
8-372 52
-650 1,000
6-970 3-170 2,750
420 700
3-000 100
1,000
8,529 386 38
8,105
666 601
7,896 248
-374 849
6-298 1-968 1,468 500 821
3-309 200 875
8,108 300 -2
7-810
679 611
8-847 -118 -442 573
7-769 3,610 3,001
609 779
3,220 160
1,065
8-206 496
9 7,701
730 622
6,841 75 115 191
5-835 2-053 1-467 586 832
2,750 200 625
7,374 600 -24
6-798
-.1 .3
15.0 -.4 9.6 2.1
1.7 5.5 3.3 2.2 -.3
-4.2 .7
2.0
13.5 1.5
K
12.0
-4.5 .7
14.8 .5
4.2 -4.3
11.7 9.1 5.9 3.2
-1.9 4.1 .4
2.8
19.3 3.9
K
15.4
-5.4 1.2
33.3 1.2 5.7
-2.0
26.1 13.8 5.5 8.2 3.5 8.2 .7
2.2
46.4 7.8 -.1 38.6
-.5 1 1.5 2
49.1 3 1.3 4 .6 5
-.3 6
42.6 7 13.9 8 13.8 9
.1 10 13.7 11 14.1 12
.9 13 4.9 14
48.7 15 6.8 16
* 17 41.9 18
19 Discrepancy -801 -405
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1*91 Insurance and Pension Funds
SEASONALLY ADJUSTED ANNUAL RATES
Insurance and Pension Funds
Sector Statements of Saving and Investment 29 SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS- $ BILLIONS 1987 1988 1989 1990
| 1989 I 1990 | 1991 | IV I I II III IV I I II
Life Insurance Companies
1 2
3 4 5 6 7
8 9 10 11 12 13 14 15 16 17
18 19 20 21
-6.2 4.7
99.2 -.9 -3.1 -2 .2 5.7
91.7 5.1
-2.0 7.0
-1.0 66.9 18.5 2.7 -.4 7.9
96.8 25.7 69.9
.2
-1.8 5.0
114.3 -.3 .1
5.7 -3.4
103.8 10.2 1.5 8.7 -1.5 69.2 20.3 5.1 .6
8.5
117.9 24.9 88.8
.1
-1.0 5.6
105.7 .5
1.6 1.2 4.4
90.7 19.5 -5.6 25.1 -.1 53.6 12.6 2.0 3.2 7.3
111.9 25.9 82.2
.1
-.7 6.0
118.0 -.1 2.3 2.7 4.2
103.5 26.4 6.2
20.2 3.3
55.8 13.1
.7 4.1 5.4
123.2 33.0 88.2
*
-.8 5.7
114.9 -2.0 1.0 1.8 4.3
103, 17,
51. 12. 18. 3. 6.
119.2 26.5 90.0
.1 2.6
-.8 5.8
145.2 3.6 2.8 2.4 6.4
125.8 40.3 24.6 15.7 l .2
50.8 32.0
-13.1 14.7 4.2
146. 36, 104
-.7 5.9
142.1 -.8 -.8 2.8 4.7
132.9 15.3 1.5 13.8 6.6
60.4 18.6 24.0 8.1 3.3
145.9 37.5 104.3
.1 4.1
-.7 6.0
116.5 1.0 4.0 3.5 4.2
97.5 31.6 4.6
27.0 3.4
64.5 8,9
-.6 6.1
-.5 6.0
-10, 6
119 32 84
68.2 111.9 -4.2 4.0 3.2 5.6 2.2 3.0 1.7 3.0
57.6 18.6 -5.7 24.3 2.0
47.7 -7.0 -7.3 3.7 7.8
80, 26. 60,
81.7 18.0 2.7 15.3 4.0
40.6 -9.8 15.9 13.0 14.6
110.7 37.4 73.0 -.1 .3
* Gross saving 5.8 Fixed nonres. investment
47.0 Net acq. of financial assets .3 Checkable dep. £ currency
2.0 Money mkt. fund shares 2.2 Mutual fund shares -.2 Other corporate equities
35.1 Credit market instruments 25.1 U.S. govt, securities
Treasury issues 25.1 Agency issues
Tax-exempt obligations 35.0 Corporate and fgn. bonds
-15.0 Mortgages -25.0 Open-market paper 15.0 Policy loans 7.6 Miscellaneous assets
46.7 Net increase in liabilities 18.0 Life insurance reserves 30.6 Pension fund reserves -.1 Profit taxes payable
-1.8 Miscellaneous liabilities
9 10 11 12 13 14 15 16 17
18 19 20 21
-2.8 -7.8 -6.1 Discrepancy
Private Pension Funds (1)
1 2
3 4 5 6 7 8
t.
10 11 12 13 14 15 16
1.4 4.8
-5.6 .5
4.6 -1.8 3.3
-24.0
22.2 9.9 6.1 3.9 10.0 -1.2 3.3
-10.4
1.7 5.0
7.7 1.0 8.7 1.6 .9
-20.3
31.4 11.8 16.8 -5.0 12.3
X
7.3 -15.5
2.0 5.5
-26.7 -1.2
-10.0 3.3 1.6
-17.9
7.2 11.9 9.4 2.5 3.3 .9
-8.7 -9.8
2.3 5.9
-10.8 -.6 -5.5 6.2 6.9
-14.2
9.9 9.9 11.2 -1.3 4.9 -.5 -4.4
-13.5
2.1 5.7
57.7 -.6
-2.8 2.0 3.0 4.0
33.1 25.8 17.1 8.8 6.9 1.3
-1.0 19.1
2.2 5.7
-33.6 -2.5 -22.6
5.4 4.0 1.3
-32.8 2.1 4.9
-2.8 -7.8
.9 -28.0 13.6
32.7
2.7 .4
4.7 3.6
18.4 16.9 10.5 6.5 3.2
-2.3 .5
3.0
2.3 5.9
-80.9
-4.0 8.6 5.8
-54.4
13.1 -6.8 17.2
-24.0 14.4 -.5 6.0
-50.1
2.4 6.1
38.6 .1
1.8 10.5 13.0 -7.2
41.0 27.4 12. 15. 9.
2.4 2.5 Gross saving 1 6.1 6.2 Fixed nonres. investment 2
-102.0 44.9 Net acq. of financial assets 3 -3.1 -.8 Checkable dep. and currency 4
-28.6 -6.2 Time deposits 5 14.5 3.0 Money mkt. fund shares 6 13.2 5.0 Mutual fund shares 7
-11.2 26.8 Other corporate equities 8
-40.0 15.7 Credit market instruments 9 4.1 13.4 U.S. government securities 10
-4.3 12.2 Treasury issues 11 8.4 1.2 Agency issues 12 -9.1 9.7 Corporate 8 foreign bonds 13 -1.3 -.7 Mortgages 14
-33.6 -6.7 Open-market paper 15 -46.9 1.4 Miscellaneous assets 16
-3.6 -3.6 -3.6 -3.7 -3o7 -3.7 -3.8 Discrepancy 17
(1) Includes Federal Employees* Retirement Thrift Savings Fund.
State and Local Government Employee Retirement Funds
1 2 3 4
5 6 7 8 9 10 11
54.7 .3
1.7 26.4
26.3 24.6 17.9 6.7
x 1.9 -.2
64.9 .5
3.9 25.9
34.6 15.8 15.5
.3 -.4 18.9
.3
72.1 -.3 -.4 23.7
49.1 13.6 - .2 13.8
a 35.9 -.4
66.0 1.5 6.3 16.8
41.4 21.7 13.2 8.5 .2
19.2 .4
72.4 -.7
-7.2 39.7
40.6 6.8
•13.6 20.5
.2 32.0 1.6
64.2 2.3 5.8 19.3
36.9 39.0 33.3 5.7 1.2
-3.7 .4
63.2 1.7 2.4 9.8
49.2 21.6 19.6 2.1 .2
27.1 .3
75.1 1.1 15.9 6.9
51.2 21.2 7.3 13.8 -1.2 31.0
.3
61.4 .9
1.1 31.0
28.3 4.8
-7.4 12.2
.4 22.6
.4
65.3 1.1 5.6 5.8
52.9 23.6 5.9 17.7
-29.3
*
68.6 .5
1.8 9.5
56.9 28.0 8.2 19.8
-28.6 .3
6 Net acq. of financial assets 1 Checkable dep. and currency 2 Time deposits 3 Corporate equities 4
Credit market instruments 5 U.S. government securities 6 Treasury issues 7 Agency issues 8
Tax-exempt obligations 9 Corporate 8 foreign bonds 10 Mortgages 11
Other Insurance Companies
1 2
3 4 5 6
7 8 9 10 11 12 13 14
15 16 17 18
2.8 1.8
47.7 -.1 2.0 2.7
39.5 8.5 8.4 .1
22.8 7.5 .6
3.6
41.7 4.0
* 37.7
3.5 1.9
41.5 .1
1 .8 3.8
28.9 9.2 9.0 .2
9.3 10.1
.3 6.8
33.1 1.7 .1
31.4
.9 2.2
37.9 .4
-.5 4.4
30.8 14.4 13.0 1.4 1.9
13.6 .8
2.8
33.9 1.8 .1
32.0
2.7 2.3
35.0 .5
-1.2 4.6
27.7 12.7 11.2 1.4 3.0 11.4
.6 3.4
34.3 1.6 .1
32.5
2.7 2.3
2.8 2.3
35.6 .4
-.3 4.0
.4
.2
.9
.4
.1
.4
.7 3.1
32.3 1.8 .1
30.4
36.1 42.2 .3 .3
-.8 .1 5.4 5.8
30.1 15.9 14.8 1.1 2.3 11.2
.6 1.2
31.1 17.8 16.8 1.0 3.6 9.3 .5
5.0
34.3 36.1 2.0 1.8 .1 .1
32.2 34.2
19 -5.1 -6.8 -5.3 -.4 -1.7 -1.4 -5.6
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
2.6 2.4
31.4 .2
-2.6 4.0
8 6 9 7 8 0 .4
4.0
34.1 1.5
32.4
2.9
2.7 2.4
30.1 1.0
-1.5 3.4
23.7 6.4 4.4 2.0 3.3 13.2
.8 3.5
32.4 1.2
31.2
2.6
2.7 2.4
35.2 -.5
-1.8 2.3
30.9 14.2 11.8 2.4 3.1 12.9
.6 4.3
32.8 2.0
30.8
-2.1
2.9 Gross saving 1 2.5 Fixed nonres. investment 2
31.2 Net acq. of financial assets 3 .3 Checkable dep. 8 currency 4 .5 Security RPs 5 .8 Corporate equities 6
27.2 Credit market instruments 7 12.1 U.S. govt, securities 8 9.8 Treasury issues 9 2.3 Agency issues 10 3.3 Tax-exempt obligations 11 11.0 Corporate and fgn. bonds 12
.8 Commercial mortgages 13 2.5 Trade credit 14
29.5 Net increase in liabilities 15 2.4 Corporate equity issues 16 -.1 Profit taxes payable 17 27.2 Policy payables 18
-1.3 Discrepancy 19
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Finance n.e.c.
30 Sector Statements of Savin9 and Investment
UNADJUSTED NET FLOWS, $ MILLIONS
I 1989 I I IV I I
1990 II III IV I I II
Finance Companies
Finance n.e.c.
UNADJUSTED NET FLOWS, $ MILLIONS
ANNUAL FLOWS, $ BILLIONS 1983 1984 1985 1986
1 Gross saving 2 Fixed nonres. investment
3 Net acq. of financial assets 4 Checkable dep. 8 currency 5 Credit market instruments 6 Mortgages 7 Consumer credit 8 Other loans(to business)
9 Net increase in liabilities 10 Credit market instruments 11 Corporate bonds 12 Bank loans n.e.c. 13 Open-market paper
14 Profit taxes payable 15 Inv. by parent companies 16 Other misc. liabilities
17 Discrepancy
1 , 8 0 8 3 - 1 9 8
1 1 , 7 2 2 2 4 1
1 1 - 4 8 1 1 , 5 7 5
- 2 - 3 8 9 1 2 - 2 9 5
1 1 , 8 8 3 1 5 - 1 5 3
2 - 0 1 5 1 , 8 9 8
1 1 , 2 4 0
3 5 3 - 2 8 8
- 6 , 5 9 3
- 1 - 2 2 9
1 . 8 3 1 3 - 3 4 9
1 0 - 0 0 7 2 8 2
9 , 7 2 5 1 0 - 0 2 8 - 4 , 5 3 6
4 - 2 3 3
4 , 1 8 4 3 - 7 8 1 2 - 5 2 4
- 1 , 9 9 4 3 , 2 5 1
37 - 5 , 5 3 2
5 , 8 9 8
- 7 - 3 4 1
1 , 8 8 8 3 - 5 2 4
1 7 , 7 4 1 3 3 2
1 7 , 4 0 9 4 , 8 3 0
6 6 0 1 1 - 9 1 9
1 6 , 2 2 0 1 0 . 7 6 5
8 . 5 0 0 2 , 3 2 4
- 5 9
3 9 - 2 , 5 8 4
8 - 0 0 0
- 3 , 1 5 7
1 , 8 5 1 3 - 6 6 4
7 , 8 4 6 3 8 5
7 . 4 6 1 3 - 1 6 3 1 - 7 7 6 2 , 5 2 2
2 2 , 1 4 3 2 1 , 3 7 2
3 , 3 0 0 1 - 2 4 0
1 6 , 8 3 2
41 35
6 9 5
1 2 - 4 8 4
2 , 1 5 1 3 - 5 8 4
1 9 , 2 6 9 4 0 0
1 8 - 8 6 9 4 , 8 3 8
- 7 4 6 1 4 , 7 7 7
8 - 2 0 1 2 1 - 1 3 3
5 - 7 0 0 2 - 2 7 5
1 3 - 1 5 8
4 2 - 1 2 , 7 0 9
- 2 6 5
- 1 2 , 5 0 1
2 , 1 5 3 3 . 7 3 3
- 1 1 . 6 6 9 4 5 7
- 1 2 , 1 2 6 - 5 - 0 9 6 - 8 - 8 6 6
1 - 8 3 6
- 1 0 - 5 5 1 - 5 - 6 6 7
1 - 3 6 7 - 1 , 3 7 1 - 5 - 6 6 3
4 4 - 5 - 5 0 7
5 7 9
- 4 6 2
2 , 2 3 1 3 , 7 5 0
8 - 5 1 6 1 7 5
8 - 3 4 1 1 - 3 3 2 1 , 2 9 8 5 , 7 1 1
3 , 8 1 1 1 , 2 9 5 6 - 5 0 0
8 9 3 - 6 , 0 9 8
4 0 - 4 - 6 3 8
7 , 1 1 4
- 6 , 2 2 4
3 . 6 4 . 1
2 6 . 8 . 1
2 6 . 8 2 . 7
1 1 . 0 1 3 . 1
1 . 8 4 . 4
3 7 . 8 - . 5
3 8 . 3 5 . 4 8 . 6
2 4 . 4
• 8 6 . 6
5 0 . 4 . 9
4 9 . 5 6 . 8
2 3 . 1 1 9 . 7
1 . 5 6 . 6
5 8 . 4 3 . 6
5 4 . 8 1 5 . 8 2 3 . 1 1 5 . 9
1 2
3 4 5 6 7 8
28.4 40.0 65.8 69.9 9 17.5 24.3 57.7 54.7 10 5
12
5 . 3 - . 4
. 2 . 6
K
4 . 1 6 . 9
9 . 6 . 8
1 4 . 0
* 9 . 5 6 . 2
1 5 . 8 2 . 9
3 9 . 0
* 1 3 . 6 - 5 . 6
2 2 . 5 11 3 . 7 12
2 8 . 5 13
* 14 1 2 . 9 15
2 . 2 16
Open-End Investment Companies (Mutual Funds)
1 Gross savins
2 Net acq. of financial assets 3 Checkable dep. and currency
4 Corporate equities 5 Credit market instruments 6 U.S. government securities 7 Treasury issues 8 A9ency issues 9 Tax-exempt obligations 10 Corporate 8 foreign bonds 11 Open-market paper
12 Net share issues
-4,033 -2,425 -575 -1,550 -2-525 -1,300 -3.6 -13.1
1 1 . 3 3 5 215
3 - 3 1 6 7 , 8 0 4 4 , 0 0 0 3 , 3 1 0
690 3 , 5 4 3 2 , 4 8 4
- 2 , 2 2 3
1 5 , 3 7 1 - 3 , 3 2 6
4 , 4 0 4 1 4 , 2 9 3
2 - 7 0 0 1 -873
8 2 7 3 - 8 0 7 2 - 4 6 9 5 - 3 1 7
1 8 , 1 9 3 3 - 7 5 8
8 , 5 9 0 5 , 8 4 5 1 , 6 0 0 1 , 1 3 9
4 6 1 4 , 0 8 4 4 , 6 6 8
- 4 - 5 0 7
6 , 3 4 8 - 6 7 7
- 1 , 0 7 9 8 , 1 0 4 1 , 2 0 0
339 8 6 1
2 - 7 3 0 2 - 5 2 1 1 , 6 5 3
1 3 - 8 4 0 490
3 . 3 8 8 9 , 9 6 2 3 . 0 0 0 1 . 9 0 2 1 , 0 9 8 4 - 9 4 0 5 , 6 0 5
- 3 , 5 8 3
2 5 , 6 9 2 1 , 1 3 1
8 - 9 5 3 1 5 - 6 0 8
2 , 5 0 0 470
2 , 0 3 0 5 , 2 6 8 5 , 7 7 9 2 , 0 6 1
3 0 - 1 8 4 269
8 - 8 6 8 2 1 , 0 4 7
1 , 5 0 0 - 1 3 8
1 , 6 3 8 6 , 3 5 0
1 1 , 1 9 4 2 - 0 0 3
2 4 . 0 . 6
1 3 . 7 9 . 8
. 6
. 6
-5 . 5 2 . 7 1 .0
2 4 . 2 .4
5 . 9 1 7 . 9
6 . 4 5 . 8
. 5 5 . 6 3 . 6 2 . 4
8 0 . 8 1 .7
1 0 . 3 6 8 . 7 5 2 . 9 41 .4 1 1 . 5 1 4 . 5
3 . 6 - 2 . 3
1 4 5 . 9 2 . 6
2 0 . 2 1 2 3 . 1
5 9 . 3 3 6 . 4 2 2 . 9 3 1 . 8 2 6 . 8
5 . 3
2 3
4 5 6 7 8 9
10 11
15,368 17,796 18,768 7,898 16,890 28,217 31,484
Money Market Mutual Funds
1 Net acq. of financial assets 13-008 35.489 -10,470 31-254 2 Checkable dep. and currency -1,539 -558 805 209 3 Time deposits -1-714 -7,099 -6-453 -4-334 4 Security RPs 585 -1-640 1,932 11-119 5 Foreign deposits -2,980 672 1,023 3,733
6 Credit market instruments 19,220 42,648 -12,266 30-044 7 U.S. government securities 6-685 17-638 3,672 7-073 8 Treasury issues 2,143 16-547 -3,354 5,991 9 Agency i s s u e s 4 , 5 4 2 L 0 9 1 7 , 0 2 6 1 -082 10 Tax-exempt obligations -324 7-752 -1,624 3-503 11 Open-market paper 12,859 17,258 -14,314 19-468 12 Miscellaneous -564 1-466 4-489 -9-517
1 4 - 0 0 8 5 3 - 3 5 5 - 1 8 - 8 9 2 1 0 , 8 3 3 - 1 3 - 5 2 8 4 - 0 9 1 - 2 - 3 3 5 6 . 6 4 4 2 , 7 2 8 - 7 , 3 2 4 1 4 . 4 2 4 - 1 - 8 0 2 - 4 , 7 3 6 5 , 6 3 3 - 5 , 6 4 5
20-426 18,139 11-486 6,653 4,636
-2,349 -2,856
3 8 , 6 9 3 2 2 - 7 5 3 2 0 , 2 0 2
2 , 5 5 1 6 , 6 9 3 9 , 2 4 7 1 , 4 8 9
-21,438 -13-708 -10-433 -3,275 -3,064 -4,666 3-174
• 4 0 . 4 - . 6
- 1 6 . 8 - 3 . 2 - 1 . 8
• 1 7 . 7 • 1 8 . 4 • 1 9 . 8
1 . 4 3 . 6
- 3 . 0 - . 4
5 4 . 2 - 1 . 0
- . 4 9 . 7 - . 7
4 5 . 0 6 . 2 2 . 6 3 . 6 7 . 0
3 1 . 8 1 . 5
1 0 . 2 1 . 4
- 6 . 8 3 . 3
- 2 . 2
1 3 . 9 . 3
- . 8 1 . 1
1 2 . 4 1 . 2
. 6
4 8 . 3 - . 2 2 . 3 6 . 1 3 . 1
3 4 . 1 . 5
3 . 4 - - 3 . 0 2 7 . 5
6 . 2 2 . 9
1 2 3 4 5
6 7 8 9
10 11 12
13 Net share issues 13-008 35,489-10,470 31,254 14,008 53,355-18-892
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1991 Finance n.e.c. Finance n.e.c.
SEASONALLY ADJUSTED ANNUAL RATES
Sector Statements of Saving and Investment 31
SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS- $ BILLIONS 1987 1988 1989 1990
I 1989 I 1990 I IV I I II III
Finance Companies
I 1991 IV I I II
1 2
3 4 5 6 7 8
9 10 11 12 13
14 15 16
5 . 1 6 . 9
4 0 . 1 . 7
3 9 . 4 - 2 . 1
7 . 5 3 4 . 1
5 6 . 6 4 0 . 8 2 1 . 5 - 1 . 2 2 0 . 5
. 1 8 . 8 6 . 9
5 . 4 8 . 5
3 9 . 1 K
3 9 . 2 3 . 4 6 . 7
2 9 . 0
5 6 . 2 6 7 . 7 1 1 . 9 - 2 . 1 5 7 . 9
. 1 - 2 . 5 - 9 . 2
6 . 5 1 1 . 8
3 9 . 8 . 6
3 9 . 2 1 3 . 6
1 . 3 2 4 . 3
5 9 . 3 4 6 . 3 1 4 . 7
4 . 8 2 6 . 7
. 1 1 0 . 1
2 . 7
7 . 7 1 4 . 1
5 4 . 9 1 . 4
5 3 . 5 2 2 . 9 - 2 . 8 3 3 . 5
5 0 . 7 5 7 . 1 2 0 . 0
3 . 8 3 3 . 2
- 2 0 . 8 1 4 . 3
7 . 2 1 2 . 8
2 0 . 4 1 . 0
1 9 . 4 1 1 . 6 - 9 . 3 1 7 . 1
4 4 . 0 5 2 . 6
8 . 1 4 . 2
4 0 . 3
. 1 3 . 4
1 2 . 1
7 . 3 1 3 . 4
5 6 . 9 1 . 1
5 5 . 7 4 8 . 8 - 2 . 2
9 . 2
3 2 . 2 2 8 . 2 1 0 . 1
. 8 1 7 . 3
. 1 - 1 6 . 8
2 0 . 7
7 . 6 1 4 . 1
5 3 . 7 1 . 3
5 2 . 3 5 . 4
- 5 . 6 5 2 . 6
5 2 . 5 2 7 . 0 3 4 . 0
2 . 5 - 9 . 4
2 - 1 . 5 2 6 . 8
7 . 4 1 4 . 7
5 7 . 7 1 . 5
5 6 . 1 1 2 . 3 - 1 . 0 4 4 . 9
8 9 . 5 9 7 . 3 1 3 . 2
6 . 3 7 7 . 8
. 2 - 2 . 9 - 5 . 0
8 . 6 1 4 . 3
5 1 . 2 1 . 6
4 9 . 6 2 5 . 0 - 2 . 5 2 7 . 2
2 8 . 8 7 5 . 7 2 2 . 8
5 . 9 4 7 . 0
. 2 - 6 2 . 0
1 4 . 9
8 . 6 1 4 . 9
- 3 0 . 3 1 . 8
- 3 2 . 1 - 1 1 . 4 - 2 0 . 9
. 2
- 2 7 . 3 - 9 . 2
5 . 5 3 . 1
- 1 7 . 7
. 2 - 1 6 . 5
- 1 . 8
8 . 9 1 5 . 0
1 5 . 6 . 7
1 4 . 9 - 9 . 4 - 3 . 0 2 7 . 3
3 . 3 - 1 1 . 7
2 6 . 0 - 3 . 7
- 3 4 . 0
. 2 - 9 . 2 2 4 . 0
8.9 Gross savin9 15.0 Fixed nonres. investment
15.6 Net acq. of financial assets 3 Checkable dep. 8 currency 4 Credit market instruments 5
Mortgages 6 Consumer credit 7 Other loans(to business) 8
Net increase in liabilities 9 Credit market instruments 10
Corporate bonds 11 Bank loans n.e.c. 12 Open-market paper 13
Profit taxes payable 14 Inv. by parent companies 15 Other misc. liabilities 16
Open-End Investment Companies (Mutual Funds)
-18.4 Discrepancy
1
2 3
4 5 6 7 8 9
10 LI
- 2 0 . 7
5 3 . 2 . 5
2 6 . 9 2 5 . 8
9 . 9 9 . 9
* 5 . 4 7 . 3 3 . 2
- 4 . 9
- 3 . 8 . 3
- 1 6 . 0 1 1 . 9
- 1 9 . 2 - 1 7 . 7
- 1 . 5 8 . 0
1 4 . 2 8 . 9
- 1 5 . 1
2 6 . 3 1 . 3
1 . 2 2 3 . 8
5 . 1 5 . 3 - . 2
1 4 . 9 5 . 7
- 1 . 9
- 7 . 6
5 3 . 8 . 2
1 5 . 3 3 8 . 2
8 . 5 5 . 3 3 . 2
1 5 . 6 1 5 . 3 - 1 . 1
-17.1 Gross saving
6 3 . 7 . 9
1 9 . 7 4 3 . 1 1 1 . 6
8 . 9 2 . 8
1 5 . 9 9 . 5 6 . 1
4 6 . 2 - 1 3 . 3
1 7 . 5 4 2 . 0
8 . 3 5 . 0 3 . 3
1 1 . 2 8 . 6
1 3 . 8
5 7 . 9 1 5 . 0
2 9 . 3 1 3 . 5
4 . 5 2 . 6 1 . 8
1 6 . 9 1 9 . 9
- 2 7 . 8
3 6 . 1 - 2 . 7
- 5 . 2 4 4 . 0 1 4 . 0 1 0 . 6
3 . 4 1 2 . 7 1 0 . 5
6 . 8
7 4 . 8 2 . 0
1 9 . 6 5 3 . 3
7 . 1 2 . 7 4 . 4
2 1 . 4 2 2 . 1
2 , 7
8 7 . 3 4 . 5
3 6 . 7 4 6 . 1
7 . 7 - . 4 8 . 1
1 6 . 9 2 0 . 9
. 6
1 0 5 . 1 1 . 1
3 0 . 0 7 4 . 0
3 . 8 - 2 . 8
6 . 6 2 6 . 1 4 6 . 8 - 2 . 6
et acq. of financial assets 2 Checkable dep. and currency 3
Corporate equities 4 Credit market instruments 5
U.S. government securities 6 Treasury issues 7 Agency issues 8
Tax-exempt obligations 9 Corporate 8 foreign bonds 10 Open-market paper 11
Net share issues
Money Market Mutual Funds
1 2 3 4 5
6 7 8 9
10 11 12
2 4 . 0 - . 3
1 4 . 4 7 . 1 - . 6
1 . 8 - 1 . 9
- 1 3 . 7 1 1 . 9 - 2 . 3
6 . 0 1 . 4
2 1 . 9 1 . 0 - . 8 2 . 4 8 . 1
1 0 . 7 - 1 1 . 4
- 2 . 7 - 8 . 6
4 . 2 1 7 . 8
. 5
9 0 . 1 - . 6 8 . 5
1 3 . 2 - 3 . 3
6 7 . 1 5 . 9 3 . 2 2 . 7 3 . 7
5 7 . 5 5 . 2
7 0 . 3 1 1 . 3
- 2 0 . 2 4 . 1
. 7
8 0 . 9 4 6 . 5 3 0 . 7 1 5 . 9 1 4 . 3 2 0 . 1 - 6 . 4
6 8 . 6 - 3 . 2
• 1 0 . 7 6 . 0
• 1 1 . 0
8 2 . 7 1 1 . 8
2 . 7 9 . 1 6 . 9
6 4 . 0 4 . 8
8 0 . 4 - . 5
- 2 4 . 7 - 1 3 . 3
- 4 . 2
1 1 7 . 1 6 1 . 7 5 5 . 3
6 . 3 5 . 7
4 9 . 7 6 . 1
4 . 3 3 . 2
- 2 8 . 4 8 . 8
1 1 . 4
- 9 . 1 3 5 . 7 - 2 . 5 3 8 . 2 1 0 . 8
- 5 5 . 7 1 8 . 5
1 2 3 . 4 - 4 . 5
- 1 3 . 6 4 5 . 8 1 3 . 8
1 2 7 . 7 3 0 . 8 2 7 . 4
3 . 4 1 3 . 8 8 3 . 1
- 4 5 . 7
7 3 . 0 4 7 . 0
- 1 4 . 1 - 2 4 . 9 - 1 8 . 1
8 7 . 8 5 7 . 8 4 2 . 4 1 5 . 4 2 6 . 8
3 . 1 - 4 . 5
1 4 8 . 7 - 5 2 . 3
3 0 . 4 5 1 . 1 1 5 . 1
9 9 . 0 8 1 . 6 6 8 . 7 1 2 . 9
1 . 6 1 5 . 8
5 . 4
- 2 4 . 8 1 1 6 . 4
8 . 0 - 7 . 5
- 1 4 . 8
- 4 3 . 6 - 3 4 . 1 - 3 1 . 9
- 2 . 2 6 . 1
- 1 5 . 5 1 6 . 8
24.8 Net acq. of financial assets 1 Checkable dep. and currency 2 Time deposits 3 Security RPs 4 Foreign deposits 5
Credit market instruments 6 U.S. government securities 7 Treasury issues 8 Agency issues 9
Tax-exempt obligations 10 Open-market paper 11
16.8 Miscellaneous 12
73.0 148.7 -24.8 Net share issues
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1991 Finance n.e.c, Continued
32 Sector Statements of Saving and Investment
UNADJUSTED NET FLOWS- $ MILLIONS
Finance n.e.c. Continued
UNADJUSTED NET FLOWS, $ MILLIONS
I 1989 I I IV I I
1990 II III IV I I II
Real Estate Investment Trusts
ANNUAL FLOWS- $ BILLIONS 1983 1984 1985 1986
1 Gross saving 2 Fixed nonres. investment 3 Multifamily resid. invest.
4 Net acq. of financial assets 5 Mortgages 6 Miscellaneous assets
7 Net increase in liabilities 8 Corporate equity issues 9 Credit market instruments 10 Mortgages 11 Corporate bonds 12 Bank loans n.e.c. 13 Open-market paper
14 Miscellaneous liabilities
15 Discrepancy
97 -244 -120
147 166 -19
-217 -16 14
-101 -178 148 145
-215
97
80 -214 -106
41 46 -5
-279 479
-959 26
-150 -543 -292
201
80
35 199 98
14 198 97
-586 -684 -568 391 -18 -1,075
-289 146
-674 46
-39 -430 -251
239
-389 -44
-449 67 199
-640 -75
104
19 188 93
98 -529 627
379 257 138 120 116 -98
-16
19
23 250 123
-469 -353 -116
-96 114
-169 20
-187 -216 214
25 -16 -8
182 117 65
158 204 -52 -31
-21
2 1
* 1 1
K
4 3 M
* 5 1
1
2
K
.5
•2 2.0 .8
1.2
2.7 2.0 .5 .4 .1
_ o
.2
.1
K
-.2 .8 .4
.8 2.4
-1.6
2.0 2.0 -.1 .1 .1
-.3 .1
.1
-.2
.3 1
.9 2
.4 3
.4 4 * 5 .4 6
1.7 7 1.3 8 .8 9 .1 10 .3 11 .1 12 .3 13
-.3 14
.3 15
Security Brokers and Dealers
1 Gross saving 2 Fixed nonres. investment
3 Net acq. of financial assets 4 Checkable dep. 8 currency 5 Corporate equities
6 Credit market instruments 7 U.S. govt, securities 8 Tax-exempt obligations 9 Corporate and fgn. bonds 10 Open-market paper
11 Security credit 12 Miscellaneous assets
13 Net increase in liabilities 14 Corporate equity issues 15 Security RPs (net)
16 Security credit 17 From banks 18 Customer credit balances
19 Trade debt 20 Profit taxes payable 21 Miscellaneous liabilities 22 Proprietor net investment
23 Discrepancy
37 176
49-417 1.009 128
49,322 42,888 1,311 1,514 3-609
-1,754 712
49-499 254
31,639
7,427 -1-088 8.515
3-632 -97
7-735 -1-091
118 171
-31-619 387
-3-498
-24-797 -17.253
-935 -5-895
-714
-563 -3-148
-31-720 1-158
-30-389
-3,845 -1-713 -2-132
-1,494 39
4-760 -1-949
121 164
-618 -1-419 2-612
3,089 1,419 564
3-719 -2-613
-1-955 -2,945
-807 -729
-1,280
-1,177 -1,058 -119
1,763 51
-459 1,024
123 159
-4,730 2-153
-2-138
-3-731 -4,102
663 42
-334
-3.300 2-286
-4,685 410
-5,478
2,881 -1.400 4,281
260 -8
-943 -1,807
126 153
62-544 -631
29
60-374 57,462
505 -1-836 4-243
2,087 685
62-552 -242
56-257
7.061 -144 7-205
977 -24 -398
-1-079
129 147
-12-444 -110
-1-904
-16-583 -12-431 -1,258 -1,823 -1,071
-1,942 8,095
-12,290 258
-12,807
-3,673 -665
-3,008
1,094 -96
1,433 1,501
168 141
22,541 664
-558
3,692 4,604
364 -1,329
53
4,833 13,910
22,483 26
-8,888
9,783 4-250 5,533
617 82
20-528 335
1.3 .3
7.2 ^.9 4.3
-7.7 = 6.8 1.8 2.0
-4.8
8.4 3.1
6.5 1.0
14.9
4.1 1.4 2.7
1.0
14.6 .9
.3
-.7 1.1
27.9 .3
-1.0
28.8 12.8 4.5 5.7 5.7
-2.3 2.3
29.4 1.1
17.0
6.9 5.9 1.0
.5 -.1
-.4
.6
.9
37.6 2.4 2.6
5.6 -9.8 8.9 9.2
-2.8
18.9 8.2
37.5 2.5
-1.2
23.9 10.4 13.5
.8
.3 9.2 2.0
-.4
1.2 1 1.1 2
28.6 3 2.2 4 1.4 5
13.2 6 18.2 7 -3.3 8
.3 9 -2.0 10
6.7 11 5.1 12
28.3 13 2.2 14 13.3 15
1.7 16 -7.3 17 9.0 18
1.1 19 .2 20
7.0 21 2.9 22
-.2 23
Issuers of Securitized Credit Obligations (SCOs)
1 Net acq. of financial assets 2 Agency securities 3 Consumer credit
Net increase in liabilities 4 Corporate bonds
9-559 8,018 13,779 6,873 11-390 7,217 9,334 -1.350 970 4-770 3-780 2,900 1-600 3-800 10,909 7,048 9,009 3-093 8-490 5,617 5,534
8-018 13,779 6-873 11-390 7,217 9,334
3.6 3.6
3.6
9.3 9.3
9.3
11.5 11.5
11.5
39.0 39.0
39.0
1
3
4
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Finance n.e.c, Continued
SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS- $ BILLIONS 1987 1988 1989 1990
Finance n.e.c* Continued
Sector Statements of Saving and Investment 33 SEASONALLY ADJUSTED ANNUAL RATES
I 1989 I I IV I I
1990 I 1991 II III IV I I II
Real Estate Investment Trusts
4 5 6
7 8 9 10 11 12 15
14
15
1.4 .7
2.0 1.0 1.0
4.1 2.8 .3 .4 .5
-.9 .4
4.4 1.1 3.5 .3
3^2
.2
.1 K
.3
.3
.1
.1
.8
.9 K
K
.9 X
.1
.2
.1
.4
.2
-1.1 -.7 -.5
-.6 .8
-1.9 .3 .1
-1.7 -.6
.5
.1
.4 •1.0 -.5
.6
.7 -.1
-.9 -.1 .1
-.4 -.7 .6 .6
-.9
.4
.3 -.9 -.4
•> .2
« -1.1 1.9
-3.8 .1
-.6 -2.2 -1.2
.8
.3
.1
.8
.4
-2.3 -2.3 -.1
-1.2 .6
-2.7 .2
-.2 -1.7 -1.0
1.0
.1
.1
.8
.4
-2.7 1.6
-4.3
-1.6 - .2
-1.8 .3 .8
-2.6 -.3
.4
.1
.1
.8
.4
.4 -2.1 2.5
1.5 1.0 .6 .5 .5
-.4
--.1
.1
.1 1.0 .5
-1.9 -1.4 -.5
-.4 .5
-.7 .1
-.7 -.9 .9
_ #2
.1
Gross saving 1 Fixed nonres. investment 2 Multifamily resid. invest. 3
Net acq. of financial assets 4 Mortgages 5 Miscellaneous assets 6
Net increase in liabilities 7 Corporate equity issues 8 Credit market instruments 9
Mortgages 10 Corporate bonds 11 Bank loans n.e.c. 12 Open-market paper 13
Miscellaneous liabilities 14
Discrepancy 15
Security Brokers and Dealers
1 2
3 4 5
6 7 8 9 10
11 12
13 14 15
16 17 18
19 20 21 22
-1.0 1.1
-57.2 -1.4 -7.1
-30.6 -16.4 -8.4 -4.4 -1.5
-16.3 -1.8
-55.0 6.3
-48.8
-12.1 -6.3 -5.8
-.1 -.6 3.5
-3.2
-.6 .9
-2.0 1.9 .1
-8.2 -17.8 -.8 9.8 .6
1.7 2.4
-.8 -1.2
-11.7
_.! -1.9 1.8
4.3 .1
2.6 5.1
-.1 .7
100.7 .4
-1.9
96.3 89.9 -.4 3.7 3.0
-1.0 6.9
101.2 -3.0 87.9
14.8 2.5 12.3
6.3 .1
-8.8 4.0
.5
.6
25.6 .5
-3.0
34.9 37.5
.8 -4.0
.6
-3.7 -3.1
25.3 .6
19.1
4.9 -4.3 9.2
1.5 .1
3.0 -3.8
.1
.7
174 .2 3 .1
.6
190 .3 171 .6 - 2 . 0
6.1 14.7
- 7 . 4 - 1 2 . 4
174 .5 1.0
107 .9
- . 8 2 2 . 1
14 .5 - . 4
34 .6 - 4 . 4
.5
.7
- 1 5 3 . 9 1.2
- 1 4 . 7
- 8 9 . 7 - 6 9 . 0
5.2 - 2 3 . 6
- 2 . 3
16 .3 - 6 6 . 9
- 1 5 4 . 3 4 . 6
- 8 8 . 8
- 1 6 . 4 - 1 2 . 4
- 4 . 1
- 4 0 . 1 - 7 . 8
.5
.7
3 . 5 5 . 7
.5 14 .9
- 1 7 . 6
- 2 1 . 4 - 4 4 . 4
- 7 . 9 - 2 . 9 - 5 . 0
- 5 1 . 4 4 . 1
. 5
.6
-10 .8 - 1 6 . 4
.7
- 1 9 . 6 102.9
2 2 . 7 - 7 . 1 2 9 . 8
1.0
.5
.6
- 5 6 . 7 73 .1 2 3 9 . 8 - 7 . 7 11 .6 - 3 . 2 13 .3 - 1 1 . 0 .4
236 .7 229.8 - 3 . 2 - 7 . 3 17.5
9 .8 - 4 . 1
- 5 7 . 4 7 3 . 3 2 3 9 . 8 - 2 . 9 1.6 - 1 . 0 - 6 . 5 - 3 5 . 9 207 .6
2 1 . 4 5 .1
16 .3
3 . 9 - . 1
9 1 . 0 12 .3 - 7 . 2 - 4 . 3
» - . 1
.5
.6
- 8 7 . 8 - 1 . 2 - 8 . 7
- 59 .5 - 49 .7
2.3 - 7 . 3 - 4 . 8
11 .4 - 2 9 . 8
- 87 .2 1.0
- 1 2 . 9
- 1 7 . 0 - 9 . 7 - 7 . 3
4 . 4 - . 4
- 6 8 . 2 6 .0
.5
.7 Gross saving 1
.6 Fixed nonres. investment 2
30.1 Net acq. of financial assets 3 .3 Checkable dep. & currency 4
1.0 Corporate equities 5
5.5 Credit market instruments 6 18.4 U.S. govt, securities 7 -.6 Tax-exempt obligations 8
-5.3 Corporate and fgn. bonds 9 -7.0 Open-market paper 10
4.4 Security credit 11 18.9 Miscellaneous assets 12
29.9 Net increase in liabilities 13 .1 Corporate equity issues 14
-38.9 Security RPs (net) 15
36.1 Security credit 16 19.0 From banks 17 17.1 Customer credit balances 18
2.5 Trade debt 19 .3 Profit taxes payable 20
28.4 Miscellaneous liabilities 21 1.3 Proprietor net investment 22
-.1 Discrepancy 23
Issuers of Securitized Credit Obligations (SCOs)
1 2 3
39.1 39.1
-
32.5 32.5
-
20.8 .6
20.2
40.1 12.4 27.6
38.2 -5.4 43.6
32,1 3.9
28.2
55.1 19.1 36.0
27.5 15.1 12.4
45.6 11.6 34.0
28.9 6.4
22.5
55.1
37.3 Net acq. of financial assets 1 15.2 Agency securities 2 22.1 Consumer credit 3
Net increase in liabilities 37.3 Corporate bonds 4
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12. 1991 Monetary and Insurance Reserves
34 Foreisn Exchan9e. Treasury Currency, and Insurance Reserves
UNADJUSTED NET FLOWS. $ MILLIONS
Monetary and Insurance Reserves
UNADJUSTED NET FLOWS, $ MILLIONS
I 1989 I 1990 I 1991 I IV I I II III IV I I II
ANNUAL FLOWS, $ BILLIONS 1983 1984 1985 1986
Gold and Official Foreign Exchange Holdings (1)
1 Total U.S. reserves -371 -1,739 1.2 -.3 1
2 U.S. 9old stock and SDRs 3 U.S. govt.: Ex. Stab. Fund 4 Monetary authority (2)
5 U.S. foreign exchange position 6 Official fgn.currency hldgs. 7 Treasury 8 Monetary authority
9 Net IMF position 10 U.S. government asset 11 Monetary authority
(1) Lines 1. 2. and 3 exclude increases in SDRs through allocations, which occurred at various dates beginning January 1970. Transactions in SDRs are included. Also excluded from the table are revaluations of foreign currency holdings, gold. SDRs. and IMF position. Allocations and revaluations are reflected in tables on outstandings.
204 210 -6
2.998 2.975 1.488 1.487
23 13 10
247 246
1
2.930 3.164 1,582 1.582
-234 -231 -3
216 211 5
-587 -94 -47 -47
-493 -495
2
-363 -361
-2
-1.376 -1.368
-684 -684
-8 -6 _2
93 98 -5
999 995 498 497
4 2 2
31 31
-384 43 22 21
341 338
3
-190 -190
-1.204 1.132 566 566
72 78 -6
.1
.1 ft
1.1 3.3 1.7 •1.7
4.4 4.5
M
1.0 1.0
if
2 .2
.6
.6
1.0 1.0
.9
.9 X
3.0 3.9 1.9 1.9
-.9 -.9
*
.3 3 « 4
-.6 5 .9 6 .5 7 .5 8
-1.5 9 -1.5 10
* 11
(2) Treasury gold stock.
Treasury Currency and SDR Certificates
1 Total U.S. govt, liability 2 Treasury currency 3 SDR certificates 4 Unallocated assets
137 215
--78
150 224
--74
161 208
--47
99 180
--81
1,626 161
1.500 -35
119 168
--49
112 181
--69
.5
.7 .6 .7
.5
.6
.1
.8
.5
.3
Life insurance reserves:
1 Net change in liabilities 2 U.S. government 3 Life insurance companies
4 Net change in assets CHH)
Insurance and Pension Fund Reserves
6 .716 9 .168 87 88
6.629 9,080
9,469 89
9,380
8,090 90
8,000
6,590 90
6 ,500
9,450 91
9 ,359
4 ,517 17
4 , 5 0 0
6,716 9,168 9.469 8,090 6,590 9,450 4,517
8.0
7^8
8.0
5.2 10.7 .2 .3
5.0 10.4
17.5 1 .3 2
17.2 3
Pension fund reserves:
5 Net change in liabilities 6 U.S. government 7 Insurance sector 8 Life insurance companies 9 Private pension funds 10 St.Sloe. govt. rtr. funds
11 Net change in assets CHH)
53, 5
47, 20, 7, 19
.325
.701
.624
.788 ,836 ,000
35 -4, 39 27, —2 15
.428
.543 •971
.292 ,321 ,000
58 5
53, 26, 10 16
.948
.275
.673
.793
.680 ,200
31 15 16 20
-22 18
.859 ,346 ,513 ,985 ,972 .500
38.812 11,116 5,591 -4,714 33,221 15,830 13,164 19,675 3.807 -19,095 16,250 15.250
46,658 6,635
40,023 8.427 14.005 17,591
151.2 14.1
137.1 38.8 59.1 39.2
152.5 18.0
134.5 46.7 42.1 45.7
176.0 18.8
157.2 63.4 40.7 53.1
152.2 20.8
131.4 82.5 -8.7 57.6
5 6 7 8 9 10
53,325 35,428 58,948 31,859 38,812 11.116 46.658 152.2 11
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1991 Monetary and Insurance Reserves Monetary and Insurance Reserves
SEASONALLY ADJUSTED ANNUAL RATES
Foreign Exchange- Treasury Currency- and Insurance Reserves
ANNUAL FLOWS- S BILLIONS 1987 1988 1989 1990
I 1989 I 1990 I 1991 I IV I I II III IV I I II
Gold and Official Foreign Exchange Holdings (1)
35 SEASONALLY ADJUSTED ANNUAL RATES
4.1 Total U.S. reserves
2 3 4
5 6 7 8
9 10 11
.5
.5 X
- 9 . 7 - 7 . 6 - 3 . 8 - 3 . 8
- 2 . 1 - 2 . 1
*
- . 1 - . 1
X
4 . 0 5 .1 2 . 5 2 . 5
- 1 . 0 - 1 . 0
X
.5
.5 X
2 4 . 8 2 5 . 2 12 .6 12.6
- . 5 - . 5
-
.2
.2 X
2 . 0 2 . 7 1.3 1.3
- . 7 - . 7
X
1.0 1.0
. 9
.8 X
.3
.4
.2
.2
- 1 . 5 - 1 . 4
X
- 5 . 5 - 5 . 5 - 2 . 7 - 2 . 7
.4
.4 X
4 . 0 4 . 0 2 . 0 2 . 0
.1 -.8 U.S. gold stock and SDRs 2
.1 -.8 U.S. govt.: Ex. Stab. Fund 3 Monetary authority (2) 4
1.5 4.8 U.S. foreign exchange position 5 .2 4.5 Official fgn.currency hld9s. 6 .1 2.3 Treasury 7 .1 2.3 Monetary authority 8
1.4 .3 Net IMF position 9 1.4 .3 U.S. government asset 10 * * Monetary authority 11
(1) Lines 1- 2» and 3 exclude increases in SDRs through allocations- which occurred at various dates beginning January 1970. Transactions in SDRs are included. Also excluded from the table are revaluations of foreign currency holdings* gold, SDRs- and IMF position. Allocations and revaluations are reflected in tables on outstandings.
(2) Treasury gold stock.
Treasury Currency and SDR Certificates
.5
.6 .5 .6
4.1 .8
3.5
2.0 .8
1.5
.5 .6 .6 .4 6.5 .5 .4 Total U.S. govt, liability 1
.9 .9 .8 .7 .6 .7 .7 Treasury currency 2 - 6.0 - - SDR certificates 3 .3 -.3 -.2 -.3 -.1 -.2 -.3 Unallocated assets 4
Insurance and Pension Fund Reserves
Life insurance reserves:
1 26.0 25.3 26.2 33.3 2 .3 .3 .3 .4 3 25.7 24.9 25.9 33.0
6 . 9 . 3
6 . 5
3 6 . 7 . 4
3 6 . 3
3 7 . 9 . 4
3 7 . 5
3 2 . 4 . 4
3 2 . 0
2 6 . 4 . 4
2 6 . 0
3 7 . 8 .4
3 7 . 4
18.1 Net change in liabilities 1 .1 U.S. government 2
18.0 Life insurance companies 3
18.1 Net change in assets (HH) 4
Pension fund reserves:
5 6 7 8 9
10
137.8 18 .9
119 .0 6 9 . 9 - 5 . 6 5 4 . 7
181.0 19 .6
161.4 8 8 . 8
7 .7 6 4 . 9
148 .5 2 0 . 8
127.7 8 2 . 2
- 2 6 . 7 72 .1
165.0 2 1 . 7
143.4 8 8 . 2
- 1 0 . 8 6 6 . 0
: 4 i . i 2 1 . 1
!20.0 9 0 . 0 5 7 . 7 72 .4
153 .4 18 .4
135 .0 104 .4 - 3 3 . 6
6 4 . 2
2 2 0 . 4 2 0 . 3
2 0 0 . 1 104 .3
3 2 . 7 6 3 . 2
105.9 2 7 . 8 78 .2 8 4 . 0
- 8 0 . 9 75 .1
180.4 2 0 . 2
160 .3 6 0 . 3 38 .6 61 .4
5 5 . 2 18 .9 3 6 . 3 7 3 . 0
- 1 0 2 . 0 6 5 . 3
168 .9 2 4 . 8
144.1 30 .6 4 4 . 9 68 . 6
Net change in liabilities 5 U.S. government 6 Insurance sector 7 Life insurance companies 8 Private pension funds 9 St.aioc. govt. rtr. funds 10
181.0 148.5 55.2 168.9 Net change in assets CHH)
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1991 Interbank Claims
36 Net Interbank Positions, Domestic and Forei9n Banks
UNADJUSTED NET FLOWS, $ MILLIONS
Interbank Claims
UNADJUSTED NET FLOWS, $ MILLIONS
I 1989 I I IV I I
1990 I 1991 II III IV I I II
Net Interbank Claims
ANNUAL FLOWS- $ BILLIONS 1983 1984 1985 1986
1 Net chan9e in liabilities 2 Monetary authority 3 Depository inst. reserves 4 Vault cash
5 Commercial banking 6 To monetary authority 7 To banks in fgn entries. 8 Liabilities- net 9 U.S. chartered banks 10 Due to fgn affils. 11 -Due from fsn affils.
12 Domestic affiliates 13 Due to f9n. affil. 14 -Due from fgn. affil.
15 Fgn. bkg. off. in U.S. 16 Due to fgn affil. 17 -Due from fgn. affil.
18 Less: Dep. at fgn. banks 19 U.S. chartered banks 20 Fgn. bkg. off. in U.S.
21 To U.S. banking, net 22 U.S.-chartered banks 23 Liabilities 24 To dom. affiliates 25 To fgn. off in U.S. 26 Unallocated
Less, due from: 27 F9n. offices in US 28 Domestic affiliates
29 Domestic affiliates 30 Due to U.S. banks 31 -Due from U.S. banks
32 Fgn. bkg. off. in U.S. 33 Due to U.S. banks 34 -Due from U.S. banks
35 Net change in assets 36 Foreign 37 Domestic 38 Monetary authority 39 Federal Reserve float 40 Loans to member banks
41 42 43
Commercial banking Reserves at F.R. Vault cash
44 Thrifts: Reserves at F.R.
45 Discrepancy: Floats, etc.
11-519 8-855 3-306 5-549
2,664 475
6-379 6-549
-7-167 2,696 9,863
1,151 -546
-1,697
12-565 1-766
-10,799
170 -73 243
-4,190 -1-551
624 -1-393 6,207
-4-190
2,083 92
1,485 92
-1,393
-4,124 2,083 6,207
15-709 6-379 9,330 475 592
-117
8-314 2-765 5-549
541
-4,190
2-448 -4-850
570 -5-420
7-298 965 387 188
13-805 -9,838 -23-643
143 386 243
-13-760 -7,135 6,625
-199 -1-034
835
5-946 -2-341 3-691 -624
-1-631 5-946
6,396 -364
260 -364 -624
8-027 6-396
-1-631
-3-498 387
-3-885 965
-717 1,682
-5-073 347
-5-420
223
5-946
1,831 1-250 207
1,043
581 -1-297 1,912 950
11-018 3,336
-7,682
1-421 -109
-1,530
-11-489 -536
10-953
-962 -419 -543
-34 -16-095
-999 -210 -755 -34
15-828 -732
-522 -732 -210
16-583 15-828 -755
1-865 1-912 -47
-1,297 280
-1.577
1,350 307
1-043
-100
-34
22-583 251
-207 458
22-332 1,140
21-610 21-590 1,804 6-868 5,064
1,018 -149
-1-167
18-768 9,360
-9,408
-20 86
-106
-418 8-389
-3-412 -11-227 8-233 -418
-10,506 -1-295
9-932 -1,295 -11-227
-18-739 -10-506 8,233
23-001 21-610 1-391 1-140 1-221 -81
551 93
458
-300
-418
6,778 10-367 2,529 7,838
-3,589 374 720
1.445 -9-094 13,470 22,564
-2-161 377
2,538
12-700 3-356
-9,344
725 657 68
-4-683 -548
-7-589 -2-298 -608
-4-683
-6-034 -1,007
1,291 -1-007 -2,298
-5-426 -6,034
-608
11.461 720
10-741 374 689
-315
10-567 2,729 7,838
-200
-4,683
-8.088 -22-475 -14-591 -7,884
14,387 30
-61 68
4,584 2-595
-1,989
1-452 1-432 -20
-5-968 -4,814 1.154
129 151 -22
14-418 3,789
-3-404 -124
-17,698 14-418
-5,765 -1,428
-1,304 -1,428
-124
11,933 -5.765 -17,698
-22,506 -61
-22-445 30
-24 54
-21,675 -13,791 -7,884
-800
14,418
-26,276 -947
-1,866 919
-25,329 -1,027 -29,678 -28-989
92 6,557 6,465
-1,838 146
1,984
-27-243 3,003
30,246
689 275 414
5.376 -1-258 3,202 -726
-1,448 5,376
4,506 -46
680 -46 -726
5,954 4.506
-1,448
-31,652 -29,678 -1,974 -1,027 -2,262 1,235
-547 -1.466
919
-400
5-376
-3.0 -3.6 -5.0 1.5
.6 -1.0 12.5 10.6 6.7 8.5 1.8
-3.1 .7
3.8
7.1 5.3
-1.8
-1.8 -1.3 -.6
-10.9 -.1
-5.9 6.7
-1.7 -10.9
-5.4 -.4
-7.1 -.4 6.7
-3.8 -5.4 -1.7
7.9 12.5 -4.6 -1.0 -1.2
.2
-4.5 -6.0 1.5
1.0
-10.9
13.4 3.6 .4
3.2
9.8 2.0 2.3 -.7
-6.4 .9
7.3
-.6 .8
1.4
6.3 -.9
-7.2
-2.9 -4.6 1.7
5.5 4.6
K
-2.5 -3.1 5.5
-4.7 M
2.5 K
-2.5
-1.5 -4.7 -3.1
7.9 2.3 5.6 2.0 -.7 2.7
2.8 -.5 3.2
.9
5.5
27.6 8.1 6.8 1.3
19.5 -.4 14.5 9.8 8.1 10.3 2.2
-.5 -1.1 -.6
2.2 7^4 5.1
-4.7 -2.0 -2.7
5.3 -1.7 6.9 .3
1.3 5.3
6.3 2.2
2.0 2 .2 .3
5.0 6.3 1.3
22.3 14.5 7.7 -.4 .1
-.5
6.4 5.1 1.3
1.7
5.3
28.3 1 19.6 2 19.5 3
.1 4
8.7 5 -1.2 6 12.7 7 11.7 8 -3.7 9 -5.1 10 -1.4 11
1.3 12 1.2 13 -.1 14
14.1 15 18.7 16 4.6 17
-1.1 18 -1.0 19 -.1 20
-2.8 21 -.9 22 4.7 23 .2 24
7.3 25 -2.8 26
6.1 27 -.5 28
-.7 29 -.5 30 .2 31
-1.2 32 6.1 33 7.3 34
31.1 35 12.7 36 18.4 37 -1.2 38
.3 39 -1.5 40
17.9 41 17.8 42
.1 43
1.7 44
-2.8 45
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1991 Interbank Claims
SEASONALLY ADJUSTED ANNUAL RATES
Interbank Claims
Net Interbank Positions- Domestic and Foreign Banks 37 SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS. $ BILLIONS 1987 1988 1989 1990
I 1989 I 1990 I 1991 I IV I I II III IV I I II
Net Interbank Claims
3 4
5 6 7 8 9 10 11
12 13 14
15 16 17
18 19 20
23 24 25 26
27 28
29 30 31
32 33 34
35 36 37 38 39 40
41 42 43
44
45
34.0 -7.1 -6.3 -.8
41.1 1.8
44.1 42.1 15.3 12.0 -3.3
3.5 .9
-2.6
23.4 13.0
-10.4
-2.0 -1.9
-4.8 1.4 2.4
-1.9 9.1
-4.8
1.2
-7.9 1.2 9.1
38.8 44.1 -5.3 1.8 -.5 2.3
-7.2 -6.4 -.8
.3 -2.4 2.7
2.0 -1.2 6.9 6.4 2.2 12.1 9.9
1.7 4.7 3.0
2.5 .3
-3.7 -.6 3.6 .3
7.0 -3.7
9.2 -5.0
-5.4 -5.0
.3
2.3 9.2 7.0
6.0 6.9 -.9 -1.2
.5 -1.6
-.8 -3.5 2.7
1.1
-3.7
-17.2 -2.7 -3.8 1.1
-14.5 -1.9 -7.5 -9.4 -8.1 -9.7 -1.6
1.8
-3.1 -13.2 -10.1
-1.9 -2.3
.4
-5. -14. 2.
.1
.7
.9
.1 7.9
-5.1
16.3 1.3
1.2 1.3 .1
8.4 16.3 7.9
-12.1 -7.5 -4.6 -1.9 _ t2
- L 7
-2.6 -3.7 1.1
-.1
-5.1
33.6 7.0 3.1 3.9
26.6 1.2
24.6 24.2 17.5 13.8 -3.7
.4
.5
.1
6.2 5.0
-1.2
-.5 -.7 .3
-10.6 -8.3 -14.4 5.2
.4 5.7 5.2
32.8 24.6 8.2 1.2 1.5
7.4 3.5 3.9
2.8 14.3 6.4 8.0
•11.5 -2.0 -12.7 •12.9 •20.3 13.8 34.1
-3.6 -2 .2 1.4
11.0 -12.1 -23.1
-1.1 1.0
3.2 8.2 17.2 -5.6 19.6 3.2
8.7 .4
5.9 .4
-5.6
-11.0 8.7 19.6
-.3 -12.7 12.4 -2.0 -.1 -1.8
12.2 4.2 8.0
2 .2
3.2
55.5 3.1 7.9
-4.9
52.4 6.5 36.7 36.7 52.8
-25.1 -77.9
10.5 1.5
-8.9
-26.6 -19.5
7.1
* -3.4 3.3
9.3 -13.8 11.0 -2.5 4.2 9.3
26.3 -1.5
1.0 -1.5 -2.5
22.0 26.3 4.2
46.3 36.7 9.5 6.5
-1.4 7.9
2.2 7!o
-4.9
.9
9.3
19.3 6.9 6.7 .2
12.4 -1.1 13.3 8.5 41.7 6.7
-35.0
6.0 -.4
-6.4
-39.2 3,9
43.1
-4.8 -2.6 -2.2
.2 -64!o -4.4 -.8
-3.8 ^2
62.5 -2.9
-2.1 -2.9 -.8
66.3 62.5 -3.8
19.1 13.3 5.8
-1.1 3.2
-4.3
7.3 7.1
2
-.4
.2
82.0 -1.0 -4.7 3.6
83.0 1.6
90.0 90.7 3.1 17.3 14.2
3.2 -.6
-3.8
84.4 42.6
-41.8
.7 1.1 -.4
-8.7 23.0
-24.4 -44.9 29.2 -8.7
—42 .2 -5^2
39.7 -5.2
-44.9
-71.4 —42 .2 29.2
90.6 90.0
.6 1.6 3.5
-1.9
.2 -3!5 3.6
-1.2
-8.7
-22.3 19.1 2.4 16.7
-41.4 -2.3
-41.5 -39.3 -27.4 56.4 83.8
-18.0 1.5
19.5
6.2 -6.9
-13.1
2.3 2.0 .3
2.5 12.5
-15.4 -9.2 -8.7 2.5
-23.9 -4.0
5.2 -4.0 -9.2
-15.2 -23.9 -8.7
-24.7 -41.5 16.8 -2.3
.6 -2.9
19.9 3.2 16.7
-.8
2.5
18.8 -66.5 -51.7 -14.8
85.3 2.4
41.6 43.1 18.9 26.5 7.6
16.2 5.7
-10.5
8.0 -10.5 -18.6
1.5 1.6 -.1
41.2 9.8
-18.1 -.5
-58.9 41.2
—22.2 -5.7
-5.2 -5.7 -.5
36.7 -22.2 -58.9
-22.4 41.6
-64.0 2.4 1.2 1.3
-63.3 -48.5 -14.8
-3.2
41.2
-96.8 -2.6 -2.2 -.4
-94.2 .6
-116.9 -115.3
-5.1 18.8 23.8
-7.2 .6
7.7
-103.0 19.2
122.2
1.7 K
1.7
22.1 -4.4 12.4 -2.9 -6.8 22.1
17.0
-•2
2.7 - .2
-2.9
23.8 17.0 -6.8
-119.0 -116.9 -2.0
.6 -6.8 7.4
-1.0 -.6 -.4
-1.6
22.1
Net change in liabilities Monetary authority
Depository inst. reserves Vault cash
Commercial banking To monetary authority To banks in fgn entries. Liabilities- net
U.S. chartered banks Due to fgn affils.
-Due from fgn affils.
Domestic affiliates Due to fgn. affil.
-Due from fgn. affil.
F9n. bkg. off. in U.S. Due to f9n affil.
-Due from fgn. affil.
Less: Dep. at fgn. banks U.S. chartered banks Fgn. bkg. off. in U.S.
To U.S. banking, net U.S.-chartered banks Liabilities
To dom. affiliates To fgn. off in U.S. Unallocated
Less, due from: Fgn. offices in US Domestic affiliates
Domestic affiliates Due to U.S. banks
-Due from U.S. banks
Fgn. bkg. off. in U.S. Due to U.S. banks
-Due from U.S. banks
Net change in assets Foreign Domestic Monetary authority Federal Reserve float Loans to member banks
Commercial banking Reserves at F.R. Vault cash
Thrifts: Reserves at F.R.
Discrepancy: Floats* etc.
1 2 3 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 33 34
35 36 37 38 39 40
41 42 43
44
45
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Deposit Claims I
38 Monetary Claims on Financial Institutions
UNADJUSTED NET FLOWS, $ MILLIONS
Deposit Claims I
UNADJUSTED NET FLOWS, $ MILLIONS
I 1989 I I IV I I
1990 I 1991 II III IV I I II
ANNUAL FLOWS, $ BILLIONS 1983 1984 1985 1986
Checkable Deposits and Currency
1 Net chan9e in liabilities 39,180 -37.453 33,679 2,837 45,163 -27,575 27,781
12 13 14 15
16 17 18 19 20 21
Monetary authority U.S. govt, cash & deposits Forei9n deposits Currency outside banks
Commercial bankin9 U.S. government deposits Foreign deposits Private domestic deposits
Savings institutions
Net change in total assets
Pvt. domes, sectors, by type Currency Demand deposits Other checkable
Pvt.domes.sectors, by holder Pvt. domestic nonfinancial
Households Business StateSlocal governments Mail float
Financial sectors
23 24
Foreign U.S. government
370 -7,220
242 7,348
36,395 -4,696
-82 41,173
2,415
39,180
50,936 7,348
31,534 12,054
50,936 49,910 36,196 2,806 2,925 7,983 1,026
160 - 1 1 , 9 1 6
1,036 - 1 , 3 0 0
-306 2 ,642
• 3 7 . 9 1 3 - 8 - 8 6 3 - 1 , 2 5 9 • 2 7 , 7 9 1
- 5 7 6
9 ,019 678
8 0 8 , 2 6 1
2 3 , 7 3 3 15-353
- 2 0 0 8 . 5 8 0
927
- 2 5 , 7 2 5 2 , 6 4 2
- 2 9 , 9 6 5 1 , 5 9 8
- 2 5 , 7 2 5 - 2 1 , 6 9 9 - 1 2 . 1 3 5
-177 - 3 , 3 4 6 - 6 , 0 4 1 - 4 , 0 2 6
- 1 , 5 6 5 - 1 0 , 1 6 3
6 , 6 3 8 2 ,115
55 4 , 4 6 8
- 2 , 2 4 8 4 - 5 2 3 1 . 6 9 6
- 8 - 4 6 7
• 3 7 , 4 5 3 3 3 - 6 7 9
17,768 8-261 6,982 2,525
17-768 13.999 13,747 -3,462 1,851 1,863 3,769
-120 16,031
8,516 1,348 -47
7,215
38,480 -5,676 -325
44,481
9-528 2-032 -94
7,590
-37,358 -4,597 -1-362 -31,399
4,793 890 -62
3,965
19,520 9.717
-1,192 10.995
-1,553 -1,833 255 3-468
>,837 4 5 , 1 6 3 - 2 7 , 5 7 5 2 7 , 7 8 1
- 5 , 5 5 2 4 , 4 6 8
- 8 , 4 1 5 - 1 , 6 0 5
- 5 , 5 5 2 - 5 . 9 2 8 - 3 - 3 1 2
2 ,707 - 1 , 1 4 2 - 4 , 1 8 1
376
1.751 6 ,638
4 9 , 8 6 3 7 , 2 1 5
3 6 , 9 3 9 5 , 7 0 9
49,863 36,769 20,576 3,713 1,663
10,817 13,094
- 3 7 2 - 4 , 3 2 8
• 2 3 . 5 5 4 7 - 5 9 0
-35,618 4 ,474
-23.554 - 9 - 4 7 5 - 2 , 4 6 6 - 1 - 7 4 0 - 3 . 0 1 2 - 2 . 2 5 7
•14,079
- 1 , 4 5 6 - 2 , 5 6 5
18-428 3.965 4,851 9,612
1 8 - 4 2 8 12-644 14 ,665 - 9 - 0 9 6
3 ,806 3 , 2 6 9 5 , 7 8 4
- 1 , 2 5 4 10 ,607
13.0 -1.3
K
14.3
15.9 -5.3 1.6
19.7
11.5
40.4
45.5 14.3 2.7
28.5
45.5 43.5 24.5 17.1 -.7 2.6 1.9
1.6 -6.7
10.3 1.7
K
8.6
29.2 4.0 2.0
23.2
7.9
47.4
39.7 8.6 15.3 15.8
39.7 37.2 16.4 17.7 5.0
-1.9 2.5
1.9 5.7
16.6 4.1 .1
12.4
53.9 10.3 1.4
42.2
13.0
83.5
67.6 12.4 22.0 33.2
67.6 53.7 20.8 31.1 1.1 .8
13.8
1.6 14.3
12.4 2 -1.9 3 -.2 4 14.4 5
94.1 6 1.7 7 2.9 8
89.6 9
20.5 10
127.0 11
124.5 12 14.4 13 52.6 14 57.5 15
124.5 16 110.8 17 91.2 18 25.0 19 3.5 20
-8.9 21 13.7 22
2.7 23 — .2 24
Small Time and Savings Deposits
1 Net change in liabilities 2 Commercial banks 3 Savings institutions 4 Savings and loan assns. 5 Mutual savings banks 6 Credit unions
7 Net change in assets 8 Households 9 State and local governments 10 U.S. government 11 Credit unions
32-344 35,201 -2,857 1,266
-6,202 2,079
32,344 28,933 3,279
106 26
32.659 27,774 4,885
-1,970 248
6,607
32.659 29,913 1,898
148 700
1,211 37,637
-36,426 -30,214 -9,696 3,484
1-211 -1,533 2,574 -74 244
8.591 29,775
-21.184 -21,663
-731 1,210
8.591 7.998 1,162
124 -693
17,213 26,635 -9,422
-16,142 6,320 400
17-213 15.750 1,673 -56 -154
32-032 33,125 -1,093
-14,673 6,378 7,202
32-032 28-811
979 -97
2.339
2-168 17,314
-15,146 -19-993 -2-725 7,572
2-168 -1,919 1,664 241
2,182
216.6 130.8 85.8 65.7 7.5 12.6
216.6 210.1
5.3 -.5 1.6
150.8 74.6 76.2 67.5 -2.6 11.3
150.8 153.2 -2.6
.5 -.4
141.2 80.3 60.8 43.8 -2.4 19.4
141.2 143.9 -5.4
K
2.6
124.1 71.6 52.5 36.3 -7.3 23.5
124.1 120.4
.2
.2 3.3
1 2 3 4 5 6
7 8 9 10 11
Large Time Deposits
1 Net change in liabilities 2 Commercial banking 3 Domestic banks 4 Foreign banking offices 5 Savings institutions
6 Net change in assets 7 Pvt. domestic nonfinancial 8 Households 9 Business 10 State & local governments 11 Foreign
12 Financial sectors 13 Saving and loan assns. 14 Credit unions 15 Private pension funds 16 St.&local 9ovt.rtr.funds 17 Money market funds
-6,405 4,238 1,768 2,470
•10,643
-6.405 -2,228 -9,075 8,283
-1,436 301
-4,478 -419 154
-699 -1,800 -1,714
-16,933 -4,863 -2,057 -2,806 -12,070
-16,933 -7,210 -7,958 2,800
-2,052 940
-10,663 1.390
199 -5,653
500 -7-099
-16.168 -6,076 -5,976 -100
-10,092
-16,168 -11,857 -4,885
300 -7,272
-311
-4-000 -710 676 687
1-800 -6-453
-16,318 -7,727 -4,038 -3.689 -8-591
-16,318 -13-483 -6,848
-562 -6-073
-236
-2-599 -293 -680 -992 3-700
-4,334
-17,109 -6,458 -8,405 1,947
-10,651
-17,109 -14.269 -18,115
6,455 -2,609
-929
-1,911 -456 137 443 300
-2,335
3,970 13,621
-14-012 27-633 -9,651
3,970 -669
-3.954 2-450 835 990
3,649 839
3,009 -7-143
300 6,644
-19-793 -8.935
-21,211 12,276
-10,858
-19,793 -25-371 -15,013 -2-400 -7,958
56
5,522 -581 3,127
-1,552 1-800 2,728
-13.0 -48.3 -38.7 -9.6 35.3
-13.0 -8.3 •22.0 25.3 -11.6
.5
-5.2 1.2
* 7.5 2.8
-16.8
87.3 38.3 33.9 4.4
49.n
87.3 82.9 63.0 17.1 2.8 4.6
-.2 -5.5 -.8 3.3 3.2 -.4
17.9 11.8 10.8
.9 6.1
17.9 7.4
-22.4 17.4 12.4 3.7
6.8 2.3 2.3 7.6 1.4
-6.8
5.0 1 3.2 2
-6.6 3 9.8 4 1.8 5
5.0 6 -3.2 7
-16.8 8 18.4 9 -4.8 10 -2.7 11
10.9 12 4.0 13 3.8 14
-2.6 15 3.5 16 2.3 17
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Deposit Claims I Deposit Claims I
SEASONALLY ADJUSTED ANNUAL RATES
Monetary Claims on Financial Institutions 39 SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS- $ BILLIONS 1987 1988 1989 1990
I 1989 I 1990 I 1991 I IV I I II III IV I I II
Checkable Deposits and Currency
1
2 3 4 5
6 7 8 9
10
U
12 13 14 15
16 17 18 19 20 21 22
23 24
4.1
16.7 -2.3 -.1 19.0
-19.7 -5.8 -1.3 -12.6
7.1
4.1
13.6 19.0
-30.1 24.7
13.6 18.2 3.1 13.9
.8
.4 -4.6
-1.4 -8.1
43.2
18.1 3.3 .1
14.7
16.8 7.3 -.6 10.1
8.3
43.2
33.1 14.7 -4.5 22.9
33.1 27.6 5.4 19.4 2.0 .8
5.5
-.6 10.6
6.1
9.5 -2.4
.2 11.7
-3.8 -3.4 -.5 .1
.3
6.1
12.1 11.7 -5.0 5.4
12.1 13.5 21.2 -4.0 -.6
-3.2 -1.4
_.2 -5.8
44.2
25.2 2.8 - .2 22.6
22.1 5.3 -.1 16.8
-3.0
44.2
36.4 22.6 5.5 8.2
36.4 23.1 18.9 2.8
-1.0 2.5 13.2
-.3 8.2
-57.5 Net chan9e in liabilities
-1.7 12.8 1.0 10.1
50.6 5.0
-4.4 49.9
10.6
59.5
70.7 10.1 26.7 33.9
70.7 76.5 90.6 •10.0 1.2
-5.3 -5.8
-3.4 -7.8
34.0 9.2
-1.2 26.1
5.7 13.1 -2.3 -5.2
3.7
43.4
24.6 26.1
-19.8 18.3
24.6 27.4 11.5 11.1 3.2 1.6
-2.8
-3.5 22.3
-1.0 -24.4
.3 23.0
-19.9 -13.4 -4.3 -2.3
-6.4
-27.4
14.4 23.0
-18.4 9.7
14.4 4.2 15.1 -1.0 -5.1 -4.9 10.2
-4.0 -37.8
34.8 2.4 .2
32.2
47.0 18.2 11.3 17.5
-2.6
79.1
47.0 32.2 17.4 -2.6
47.0 45.5 29.0 6.9 1.7 7.9 1.5
11.5 20.6
33.1 24 .2 -.2 9.1
55.5 3.4
-5.1 57.2
-6.9
81.8
59.4 9.1
42.8 7.5
59.4 15.4 19.9 -5.9 -3.7 5.1
43.9
-5.2 27.6
67.5 21.8 -.4 46.1
9.3 30.1 -3.1
-17.7
7.3
84.1
35.7 46.1
-40.8 30.4
35.7 78.0 52.1 3.4 4.9 17.6
-42.3
-3.5 52.0
-20.6 -26.1 -.2 5.7
-40.4 -39.2 -8.1 7.0
3.5
-57.5
16.2 5.7
-27.8 38.3
16.2 -1.6 19.1
-23.7 3.0
-17.8
-8.4 -65.3
Monetary authority U.S. govt, cash S deposits Foreign deposits Currency outside banks
Commercial bankiri9 U.S. government deposits Forei9n deposits Private domestic deposits
Savings institutions
Net change in total assets
Pvt. domes, sectors, by type Currency Demand deposits Other checkable
Pvt.domes.sectors, by holder Pvt. domestic nonfinancial
Households Business State&local governments Mail float
Financial sectors
Foreign U.S. government
2 3 4 5
6 7 8 9
10
11
12 13 14 15
16 17 18 19 20 21 22
23 24
Small Time and Savings Deposits
1 2 3 4 5 6
7 8 9 10 11
76.3 27.4 49.0 48.9
-11.0 11.1
76.3 66.8 9.2 .2 .1
120.8 73.1 47.7 45.9 -8.5 10.3
120.8 115.3 7.1 - ,2
-1.3
96.2 96.5 -.3 18.7
-25.4 6.5
96.2 88.3 9.9 -.1
-1.8
59.7 121.8 -62.1 -70.0 -3.9 11.7
59.7 52.1 7.3 .1 .1
107.9 113.8 -5.8 7.9
-29.5 15.8
107.9 95.3 11.7
.4
.5
109.3 108.1 1.1
-21.8 6.6 16.3
109.3 100.1 7.6 .6 .9
21.4 166.7
-145.3 -121.3 -33.8
9.9
21.4 11.9 9.6 -.3 .1
59.6 133.0 -73.3 -84.0 -1.7 12.3
59.6 52.8 6.8 .5
-.5
48.4 79.5
-31.1 -52.9 13.5 8.3
48.4 43.7 5.2 - .2 _ 2
108.1 130.8 -22. 7 -72.5 31.2 18.7
108.1 97.0 4.0 -.4 7.5
25.6 86.2
-60.6 -80.8 -6.4 26.7
25.6 10.7 6.0 1.0 7.9
25.6 Net change in liabilities 1 Commercial banks 2 Savings institutions 3
Savings and loan assns. 4 Mutual savings banks 5 Credit unions 6
25.6 Net change in assets 7 Households 8 State and local governments 9 U.S. government 10 Credit unions 11
Large Time Deposits
1 2 3 4 5
6 7 8 9 10 11
12 13 14 15 16 17
50.6 42.1 37.7 4.5 8.5
50.6 37.2 46.6 -.9 -8.5
.9
12.5 -8.5
.3 4.6 1.7
14.4
53.6 42.0 35.2 6.8 11.6
53.6 40.8 50.3 1.7
-11.1 3.1
9.7 K
-2.1 8.7 3.9 -.8
18.2 32.1 24.0 8.1
-13.9
18.2 25.0 23.2 12.1
-10.3 -1.9
-4.9 -2.1 -.9
-10.0 -.4 8.5
-66.5 -25.1 -20.5 -4.6
-41.4
-66.5 -46.8 -37.8
9.0 -18.0 -.5
-19.2 -.1 .3
-5.5 6.3
-20.2
•37.8 5.4 2.5 2.9
•43.1
•37.8 •12.0 •15.8 9.3
-5.5 -3.5
•22.2 -3.1 1.5
-2.8 -7.2 •10.7
-58.7 -13.2 -5.8 -7.4 -45.4
-58.7 -26.4 -12.2 10.2
-24.4 5.4
-37.7 5.3
-1.4 -22.6
5.8 -24.7
-28.8 4.7
-1.0 5.6
-33.5
-28.8 -1.8 -4.2 16.2
-13.7 -1.3
-25.8 -3.3
.8 2.7 2.4
-28.4
-96.6 -54.2 -37.2 -17.0 -42.4
-96.6 -97.9 -80.5
6.7 -24.1
2.2
-.9 .4 .4
-4.0 15.9
-13.6
-82.0 -37.7 -37.9
.2 -44.3
-82.0 -61.2 -54.3
2.8 -9.8 -8.5
-12.3 -2.6 1.5 1.8 1.1
-14.1
23.6 59.3
-54.6 113.8 -35.6
23.6 -2.3 3.5 8.3
-14.2 5.3
20.6 3.3 10.0
-28.6 5.6 30.4
-41.4 -5.5
-61.8 56.3
-35.9
-41.4 -52.5 -42.3
5.7 -15.9
.4
10.7 -3.4 10.6 -6.2 1.8 8.0
Net change in liabilities Commercial banking
Domestic banks Foreign banking offices
Savings institutions
Net change in assets Pvt. domestic nonfinancial Households Business State & local governments
Foreign
Financial sectors Saving and loan assns. Credit unions Private pension funds St.Slocal govt.rtr.funds Money market funds
1 2 3 4 5
6 7 8 9 10 11
12 13 14 15 16 17
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Deposit Claims II
40 UNADJUSTED NET FLOWS, $ MILLIONS
Monetary Claims on Financial Institutions, Continued
Deposit Claims II
UNADJUSTED NET FLOWS, $ MILLIONS
1 Net change in assets 2 Households 3 Nonfin. corp. business 4 Life insurance cos. 5 Private pension funds
1 Net change in liabilities 2 Commercial bankin9 (net) 3 Domestic banks 4 Foreign banking offices 5 Savings and loan assns. 6 Mutual savings banks 7 Brokers S dealers (net)
8 Net change in assets 9 Nonfinancial corporations 10 State and local governments 11 Foreign 12 Financial sectors 13 Monetary authority 14 Sponsored credit agencies
15 Savings and loan assns. 16 Mutual savings banks 17 Credit unions 18 Other insurance companies 19 Money market funds
20 Discrepancy-unallocated assets
1 1989 1 IV
13-008 11-655
599 260 494
4-582 -11-517 -15-684
4,167 -15-5Q7
57 31-639
4,523 4-000
-7-018 2,268 5-273 2-117 3-072
-1,693 -296 1-573 -85 585
1 1 I
35-489 31-930 1-500 710
1-349
-12,162 19-880 18-006 1-874
-2-011 358
-30-389
-15-459 -5-500 -4-000 -1,616 -4,343
-184 -2-098
-6-756 2,234 4-311 -210
-1-640
1990 II
-10,470 -9,863
-500 -209 102
III
31,254 27,118 1,000 988
2,148
IV 1 1991 1 I
Money Market Mut
14,008 10.083
500 800
2,625
Federal Funds and
1,208 1-006
-2-870 3-876 2,403 -921
-1,280
2,326
-4-297
997 -2,968 -1,933 1,813
-2,157 -1,843
-798 18
1,932
-26,317 -15-540 -17-507
1,967 -5,227
-72 -5,4 78
-8-140 -1-250 -4-790
386 -2-486
--9,085
-3,291 791
-1,370 -650
11,119
16-499 -30,548 -31-267
719 -7-523 -1,687 56-257
20,431 2-500
-5,727 1-166
22.492 18-354 16,268
-2-838 -1,553
-41 -374
-7,324
53,355 47-315 1,000 1.408 3,632
II ANNUAL FLOWS,
1983
ual Fund Shares
-18,892 -20-642
500 500 750
Security Repurchase
-30,594 -7,947 -4,745 -3,202 -9,743
-97 -12,807
-7-801 -1-000
-10-445 1,166 2-478
-18-354 4,429
-1,312 1,778 1,955 -442
14,424
-12,458 1,248
-2,085 3,333
-3,251 -1,567 -8,888
-9,497 500
-2-012 -1,616 -6,369 1,402 -660
-2,047 -1,000 -2,377
115 -1,802
-40.4 -31.1 -7.9 -1.9
.4
Agreements
12.9 14.8 11.3 3.5
13.9 -.8
-14.9
26.8 6.2
16.9 .5
3.2 -3.8 -2.3
2.3 -.6 1.1 9.6
-3.2
1984
54.2 44.0 4.9 2 .2 3.0
37.1 1.6 1.9 -.3 18.8 -.3 17.0
36.3 .5
9.4 .1
26.4 H
8.3
2.4 1.3 .3
4.2 9.7
$ BILLIONS 1985
10.2 8.7
-1.5 2.1 1.0
29.0 31.3 26.8 4.5
-1.9 .8
-1.2
37.4 9.5 8.2 .8
19.0 3.2 7.2
-4.5 .3
3.7 5.7 3.3
1986
48.3 39.6 3.6 .9
4.2
48.7 19.2 10.8 8.4 14.2 2.0
13.3
43.7 12.2 8.0 3.4
20.2 10.8 5.0
-4.8 K
2.5 .6
6.1
1 2 3 4 5
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19
-1,118 -18,177 -3,932
U.S. Deposits in Foreign Countries
1 Total fgn. liability, held by: 2 Nonfinan. corporate business 3 Money market funds
2-479 -4 ,975 5-459 -5-647
- 2 , 9 8 0 672
6 ,595 3 ,058 3 ,056 5-572 - 6 7 5 7 ,792 1,023 3 , 733 - 4 , 7 3 6
- 4 , 7 0 2 3 ,446 •10,335 9 ,091
5,633 -5 ,645
1.3 3.1 1.8
-5.8 -5.1 -.7
-3.9 -1.7 —2.2
9.1 5.9 3.1
1 2 3
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Deposit Claims II Deposit Claims II
SEASONALLY ADJUSTED ANNUAL RATES
Monetary Claims on Financial Institutions* Continued 41 SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS. $ BILLIONS 1987 1988 1989 1990
1989 IV
1990 II III
1991 I II
Money Market Mutual Fund Shares
1 2 3 4 5
24.0 28.1
.8 -3.1 -1.8
21.9 23.5 -3.3
.1 1.6
90.1 81.2 4.0 1.6 3.3
70.3 59.3 2.5 2.3 6.2
68.6 63.2 2.4 1.0 2.0
80.4 66.2 6.0 2.8 5.4
4.3 6.7
-2.0 -.8 .4
123.4 106.9 4.0 4.0 8.6
73.0 57.3 2.0 3.2 10.5
148.7 124.5 4.0 5.6 14.5
-24.8 Net change in assets -31.8 Households
2.0 Nonfin. corp. business 2.0 Life insurance cos. 3.0 Private pension funds
Federal Funds and Security Repurchase Agreements
I 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19
20
1 2 3
-9.9 10.2 11.9 -1.7 26.3 2.4
-48.8
11.4 .8
20.7 2.2
-12.3 -14.7 -4.2
1.0 -1.9 -1.6 2.0 7.1
-21.3
-3.1 -2.5 -.6
24.9 20.8 16.3 4.5 13.7 2.1
-11.7
53.0 8.2 24.7 1.1
19.0 5.5 6.6
2.1 .4 .1
1.8 2.4
-28.1
-3.1 -11.2 8.1
80.1 37.9 35.6 2.3
-42.8 -2.9 87.9
61.2 4.0 10.9 3.3
43.0 -4.7 28.0
1.9 2.0 3.1 -.5 13.2
18.9
1.1 4.4
-3.3
-20.8 -25.2 -33.6
8.4 -12.4 -2.3 19.1
-.8 -4.3 -10.2
.9 12.7 16.2 6.9
-15.0 -.4 2.1
-1.2 4.1
-19.9
7.7 7.0 .7
7.3 -38.4 -55.0 16.7
-62.4 .2
107.9
16.4 -2.6 -16.6
9.1 26.5 1.2
12.3
-1.4 2.6 6.2 -.3 6.0
-42.6 52.8 45.3 7.5
-8.0 1.4
-88.8
-61.0 -14.3 -20.4 -6.5
-19.8 16.8 -8.4
-29.0 1.9
13.0 -.8
-13.3
48.6 49.2 33.7 15.5 9.6
-3.7 -6.5
9.2 2.8
20.0 4.0
-17.6 -12.5
7.3
-13.6 -6.1 -1.5
.1 8.8
-148.5 -91.4 -99.3
7.9 -20.9
-.3 -35.9
-32.4 2.9
-28.7 1.5
-8.1 -5.6 -36.3
-12.1 5.3
-2.5 -2.6 45.8
59.4 -111.4 -114.3
2.9 -30.1 -6.7
207.6
80.8 -8.3 -11.8
4.7 96.3 66.3 65.1
-5.5 -2.6 -.5
-1.5 -24.9
-112.3 -60.0 -47.2 -12.8 -39.0 -.4
-12.9
-29.6 3.6
-46.0 4.7 8.2
-55.6 17.7
-7.2 .2
3.7 -1.8 51.1
-7.4 50.7 37.4 13.3
-13.0 -6.3
-38.9
-40.9 4.2
-5.4 -6.5
-33.3 .2
-2.6
-13.5 -2.8 -7.5
.5 -7.5
39.4 -116.1 -21.4 -82.7
U.S. Deposits in Foreign Countries
7.4 Net change in liabilities 1 Commercial banking (net) 2
Domestic banks 3 Foreign banking offices 4
Savings and loan assns. 5 Mutual savings banks 6 Brokers & dealers (net) 7
Net change in assets 8 Nonfinancial corporations 9 State and local governments 10 Foreign 11 Financial sectors 12 Monetary authority 13 Sponsored credit agencies 14
Savings and loan assns. 15 Mutual savings banks 16 Credit unions 17 Other insurance companies 18 Money market funds 19
33.5 Discrepancy-unallocated assets 20
1.4 12.4 11.0
-13.1 -8.9 -4.2
24.2 12.8 11.4
17.4 3.6 13.8
2.5 20.6
-18.1
-11.4 -26.6 15.1
11.7 Total fgn. liability, held by: 1 26.5 Nonfinan. corporate business 2
-14.8 Money market funds 3
BILLIONS OF DOLLARS, LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 U.S. Government Securities
42 U.S. Government Securities Market Summary
UNADJUSTED NET FLOWS. $ MILLIONS
U.S. Government Securities
UNADJUSTED NET FLOWS, $ MILLIONS
I 1989 I I IV I I
1990 I 1991 II III IV I I II
ANNUAL FLOWS, $ BILLIONS 1983 1984 1985 1986
1 Total U.S. government secur. 2 U.S. 9overnment 3 Spons. agencies & mtg. pools
By instrument: 4 Treasury issues 5 Household savings bonds 6 Treas. excl. savings bonds
7 Other 8 Budget agency issues 9 Loan participations (1) 10 Spons. agency issues (2) 11 Mortgage pool secur. (2)
1 Total purchases, by sector 2 U.S. govt, (agency issues)
109.041 63.300
» 45,741
64,445 2,019
; 62,426
44,596 -1-145
2,898 42,843
101,627 64-486 37,141
57,093 2,156
54,937
44,534 7,393
1,525 35,616
82,788 40,851 41,937
39,508 1,985
37,525
43,280 1,343
2,904 39,033
Tot
106,220 68,449 37,771
68,779 2,043 66,736
57,441 -530
3,436 34,535
Tota
al Net Issues, by Sector and
149.363 98,741 50,622
98.994 2,304 96,690
50,369 -253
9,284 41,338
89,610 55,806 35,804
61,806 5,493
58,315
27,804 -6-000
5,278 50-526
1 Net Purchases,
75,799 42-962 52,837
44,512 3-472
41,040
31.287 -1.550
-7,421 40,258
by Sector
Type
and
254.4 186.6 67.8
186.7 3.1
183.5
67.8 K
1.4 66.4
Type
273.8 198.9 74.9
199.0 3.0
195.9
74.8 -.1
30.4 44.4
324.2 223.7 100.5
223.7 5.3
218.5
100.4 M
20.6 79.9
369.5 215.1 154.5
214.7 13.6
201.1
154.9 .4
15.2 139.2
1
3
4 5 6
7 8 9 10 11
109,041 101,627 82.788 106.220 149,363 89,610 75,799 254.4 273.8 324.2 369.5 1
3 4 5
6 7 8
9 10 11
12 13 14
15 16 17 18 19
20 21
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 64 65
66 67 68
69 70
Sponsored credit agencies Treasury issues Agency issues
Monetary authority Treasury issues Agency issues
Foreign Treasury issues Agency issues
Total private domestic Treasury issues Agency issues
Private domestic nonfinan. Total Treasury issues
Savings bonds (HH) Other Treasury issues
Agency issues
Households Total Treasury Issues Savings bonds Other Treas. issues
Agency issues
Nonfarm noncorp. bus.
Nonfin. corp. business Treasury issues Agency issues
State and local govts. Treasury issues Agency issues
Commercial banking Treasury Issues Agency issues
U.S. commercial banks Domestic affiliates Foreign banking offices Banks in U.S.possessions
Private nonbank finance Treasury issues Agency issues
Savings and loan assns. Treasury issues Agency issues
Mutual savings banks Treasury issues Agency issues
Credit unions Treasury issues Agency issues
Life insurance companies Treasury issues Agency issues
Private pension funds Treasury issues Agency issues
St.&local govt.rtr.funds Treasury issues Agency issues
Other insurance cos. Treasury issues Agency issues
Mutual funds Treasury issues Agency issues
Money market funds Treasury issues Agency issues
Brokers 8 dealers SCO issuers (agencies)
3,291 -1,582 4,873
5,695 5,725 -30
4,580 -1,671 6,251
95,475 61,973 33,502
35,174 7,529 2,019 5.510
27,645
39,856 9,046 2,019 7,027
30,810
150
"
-4,832 -1,667 -3,165
12.615 -11
12,624
10,096 1.776 653 88
47,688 54,455 -6,767
-16,965 750
-17,715
-182 567
-549
-1,022 -705 -317
5,165 176
4,989
5,763 4,265 -502
517 -2,583 3,100
4,189 3,844
345
4,000 3,310 690
6,685 2,143 4,542
42,888 -1,350
7,497 5,751 1,746
-8,878 -8,877
-1
-4,768 -6,937 2,169
107,776 67,156 40,620
42,436 30-013 2,156
27,857 12,423
30,099 25,863 2-156
23,707 4,236
150
6,000 6,000
6,187 -2,000 8,187
34,881 14,239 20,642
30,844 832
3,181 24
30,459 22,904 7,555
-2,992 2,778
-5,770
873 586 287
2,432 -874 3,306
10,295 6,265 4,030
1,463 1,232 231
10,300 8,000 2,300
4,033 3,750 283
2,700 1,873 827
17,638 16,547 1,091
-17,253 970
9,731 8,348 1,385
13,406 13,484
-78
8,217 6,748 1,469
51,434 10,928 40,506
25,213 8,620 1,985 6,635 16,593
27,374 10,470 1,985 8,485 16,904
150
2,000 2,000
-4,511 -4,000
-511
10,411 -5,535 13,946
11,934 -2,147
599 25
15,810 5,843 9,967
-8,449 -1,500 -6,949
-4.327 -569
-3.758
757 -954 1,711
3,679 -202 3,881
5,798 2,614 1,184
5,400 4,000 1,400
3,491 3,250 241
1,600 1.139 461
3,672 -3,354 7*026
1,419 4,770
17,326 16,276 1,050
2,921 2,990 -69
11,330 11.873 -543
74,643 37,640 37.003
42,747 25,105 2,043
23,062 17,642
37,551 28,311 2,043
26,268 9.240
150
-1.750 -1,750
6,796 -1,606 8,402
11,859 2,491 9,368
10,463 -150 1,575 -29
20,037 10.044 9,993
-6,556 -1.894 -4,662
433 457 -24
491 -953 1,444
7,423 954
6,469
925 4.302
-3.377
6.200 2,200 4,000
3,170 2,750
420
1.200 359 861
7.073 5,991 1,082
-4,102 3,780
-4,313 -5,757 1,444
682 717 -35
21,250 18,090 3,160
131,744 85,944 45,800
37,751 21,357 2,304 19,053 16,374
38,028 17,957 2,304 15,653 20,071
150
3,500 3,500
-3,947 -250
-3,697
2,134 -8,626 10,760
1.225 -669 1.568
10
91,879 73,213 18,666
-474 462
-936
380 148 232
-4 -966 962
5,042 -783 5,825
3,716 3,034 682
-250 -1,000
750
1,968 1,468 500
3,000 1,902 1,098
18,139 11,486 6,653
57,462 2.900
10.752 11,977 -1,225
5,875 5,875
6,645 5,790 855
66,338 38,164 28,174
9,292 6,378 3-493 2,885 2,914
-7.458 301
3,493 -3,192 -7,759
150
7,000 7,000
9,600 -1,073 10,673
29,996 15,460 14,536
25,842 -10
4,135 29
27,050 16,326 10,724
-13,396 -947
-12,449
-2 525
-527
1,791 591
1,200
12,000 5,000 7,000
2,125 -1,085 3,210
6,500 1,000 5,500
3,610 3,001
609
2,500 470
2,030
22,753 • 20,202 • 2,551
-12,431 1,600
2,267 2-426 -159
6,390 6,519 -129
13,354 12-017 1,337
53,788 23,550 30,238
25,306 9,549 3,472 6,077 15,757
25,109 11.373 3.472 7,901 13,756
150
1,726 1,726
-1,679 -3,700 2,021
17.706 9,409 8,297
18,630 854
-1,788 10
10,776 4,592 6,184
-4,517 2,226
-6,743
-104 1,060
-1,164
2,477 817
1,660
4,750 750
4,000
2,721 5,059 -318
7,200 1,200 6,000
2,053 1.467 586
1,500 -138 1,638
-13,708 -10,433 -3,275
4,604 3,800
-1.5 -.8 -.4
14.7 15.0 -.3
15.6 15.7
K
225.4 156.9 68.5
90.2 91.2 3.1
88.1 -1.1
70.0 69.2 3.1
66.0 .8
2.8
8.0 8.0
* 9.4 11.3 -1.9
47.8 47.1
.7
44.2 1.8 1.7 .2
87.4 18.5 68.9
41.7 11.6 30.1
9.8 3.8 6.0
3.1 1.4 1.7
19.3 12.1 7.2
12.0 .4
11.6
17.0 12.0 4.9
5.5 3.3 2.2
.6
.6
-18.4 -19.8
1.4
-6.8 3.6
1.6 J.4
8.4 8.7 -.3
28.9 27.7 1.2
234.9 161.2 73.7
110.8 79.6 3.0
76.6 31.2
99.6 67.2 3.0
64.2 32.4
-.5
4.2 4.3 -.1
7.6 8.7
-1.1
1.5 2.8
-1.3
1.5 .9
-.6
122.5 78.8 45.7
24.5 7.9 16.4
.5 -.1 .4
.4
.8 -.4
25.6 12.6 11.0
7.5 11.6 -4.5
25.1 19.0 4.1
9.1 5.9 3.2
6.4 5.8 .5
6.2 2.6 3.6
12.8 9.3
3.3 3.2 .1
18.4 18.6 -.2
24.2 19.6 4.6
278.2 182.4 95.9
157.8 112.3 5.3
107.0 45.5
82.5 58.4 5.3
55.1 24.1
.3
-3.6 -3.5 -.1
78.7 57.2 21.5
9.5 11.9 -2.4
4.6 4.4 .4 .1
111.0 58.2 52.8
-3.5 -4.6 1.2
-1.2 -.6 -.7
3.7 2.6 1.1
23.0 10.5 12.5
8.0 -1.0 9.0
12.3 15.0 -2.7
13.8 5.5 8.2
52.9 41.4 11.5
.3 -.8 1.1
-9.8 11.5
4.6 3 5.2 4 -.6 5
19.4 6 19.8 7 -.4 8
45.4 9 38.2 10 7.2 11
300.1 12 151.5 13 148.6 14
27.0 15 40.3 16 13.6 17 26.7 18
-13.3 19
-13.0 20 16.6 21 13.6 22 3.0 23
-29.6 24
1.2 25
14.5 26 14.6 27 -.1 28
24.4 29 7.9 30 16.5 31
44.5 32 6.5 33
38.0 34
42.4 35 -1.8 36 3.6 37 .3 38
228.7 39 104.8 40 123.9 41
44.0 42 2.0 43
42.0 44
6.8 45 1.4 46 5.4 47
3.7 48 1.9 49 1.8 50
17.9 51 7.3 52 10.6 53
4.8 54 8.2 55
-3.4 56
20.7 57 12.1 58 8.6 59
13.9 60 13.8 61
.1 62
59.3 63 36.4 64 22.9 65
.5 66 3.4 67
-3.0 68
18.2 69 39.0 70
(1) For purchases, agency issues include loan participations. (2) These issues are included in credit market debt of financial
institutions in the Flow of Funds Accounts.
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 U.S. Government Securities
SEASONALLY ADJUSTED ANNUAL RATES
U.S. Government Securities Market Summary
U.S. Government Securities
43 SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS-198 7 1988
317 .5 144.9 172 .5
$ BILLIONS 1989 1990
1989 IV
1990 II III
Total Net Issues, by Sector and Type
277.2 157.5 119.8
302 .6 151.6 151 .0
440.0 272.5 167.5
3 4 1 . 4 4 1 9 . 0 185 .0 2 4 7 . 3 156 .4 171 .7
412.2 425.4 503.4 360.5 392.4 Total U.S. government secur. 228.2 286.1 328.4 204.7 241.8 U.S. government 184.0 139.2 175.0 155.8 150.6 Spons. agencies & mtg. pools
143.4 7.8
135.6
140. 8.
131,
150.0 8.2
141 .8
2 6 4 . 4 8 . 5
2 5 5 . 9
189 .6 2 1 7 . 8 7 . 5 6 .7
182 .1 2 1 1 . 0
222.9 2 8 7 . 5 329 .4 8.9 9.7 8.7
214.0 2 7 7 . 8 320 .7
228.7 248.0 11 .7 14 .8
2 1 7 . 0 2 3 3 . 1
By instrument: Treasury issues 4 Household savings bonds 5 Treas. excl. savings bonds 6
7 8 9
10 21
174 .0 1.8 - . 3
3 0 . 2 142 .3
137 .2 18 .3 - . 9
4 4 . 9 7 4 . 9
152.6 1.6
2 5 . 2 125.8
175.6 8 . 2
17 .1 150 .3
151 .8 - 4 . 6
- 4 . 7 161 .1
2 0 1 . 2 2 9 . 6
9 . 7 162 .0
189.3 5.4
17.1 166 .8
137 .9 - 1 . 3
2 2 . 3 116 .9
174 .0 - 1 . 0
1 9 . 5 155 .5
131.8 - 2 4 . 0
14 .5 141 .3
Total Net Purchases, by Sector and Type
3 1 7 . 5 2 7 7 . 2 4 1 9 . 0 4 1 2 . 2 4 2 5 . 4 5 0 3 . 4
3 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 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 64 65
66 67 68
69 70
4.8 4.9 -.1
24.7 24.9 -.3
40.6 35.6 5.0
247.4 78.0 169.4
86.0 57.0 7.8
49.2 29.0
72.3 27.6 7.8
19.9 44.7
.6
3.6 3.7 -.1
9.6 25.1
-15.6
27.1 -2.0 29.1
24.8 1.4 .9 X
134.2 23.0 111.2
45.3 8.1 37.2
6.8 1.5 5.3
3.3 3.3
K
5.1 -2.0 7.0
9.9 6.1 3.9
24.6 17.9 6.7
8.5 8.4 .1
9.9 9.9
«
-1.9 -13.7 11.9
-16.4 39.1
5.9 5.8 ^2
10.5 11.1 -.6
68.7 62.0 6.7
192.1 61.2 130.9
129.0 73.5 8.5 65.0 55.6
135.6 53.0 8.5 44.5 82.6
.6
-5.7 -5.6 -.1
-1.4 25.6
-27.0
21.3 -9.1 30.3
19.8 .2
1.2
• 41.8 -3.2 45.0
13.2 -8.6 21.7
-3.4 -1.6 -1.8
.8 2.5
-1.7
10.2 1.5 8.7
11.8 16.8 -5.0
15.8 15.5
.3
9.2 9.0 .2
-19.2 -17.7 -1.5
-11.4 -2.7 -8.6
-17.8 32.5
-7.4 -13.3
5.9
-7.3 -6.9 -.4
45.4 30.3 15.1
271.9 139.9 132.0
134.3 53.5 8.2 45.3 80.8
145.6 48.5 8.2 40.3 97.1
.6
~
-11.9 4.4
-16.3
35.7 -18.9 54.5
34.0 1.2 .1 .4
102.0 105.3 -3.3
-53.9 -6.9
-47.0
-2.5 -1.2 -1.4
-2.4 -1.6 -.9
19.5 -5.6 25.1
11.9 9.4 2.5
13.6 -.2 13.8
14.4 13.0 1.4
5.1 5.3 -.2
5.9 3.2 2.7
89.9 .6
30.2 24.6 5.6
8.1 8.3 -.2
36.0 29.8 6.3
365.6 201.7 163.9
148.1 85.1 8.5 76.6 63.0
133.1 82.6 8.5 74.1 50.5
.6
9.8 9.8
4.7 -7.9 12.6
59.3 4.6
54.7
54.5 -2.1 6.9
« 158.2 112.0 46.2
-18.5 -.2
-18.3
-2.6 .6
-3.3
3.7 -3.7 7.4
26.4 6.2
20.2
9.9 11.2 -1.3
21.7 13.2 8.5
12.7 11.2 1.4
8.5 5.3 3.2
46.5 30.7 15.9
37.5 12.4
13 .4 - 6 . 0 19 .4
- 4 . 6 - 4 . 6
18.3 - 6 . 7 25.0
3 1 4 . 3 2 0 6 . 8 107 .4
65.8 - 1 0 . 9
7 . 5 - 1 8 . 4
7 6 . 7
89.7 .9
7.5 - 6 . 6 88.9
. 6
- 9 . 0 - 9 . 0
- 1 5 . 5 - 3 . 4
- 1 2 . 2
6 2 . 7 1 6 . 3 4 6 . 4
5 2 . 6 7 .1 2 . 6
.4
185 .8 2 0 1 . 5 - 1 5 . 6
- 6 7 . 9 3 . 0
- 7 0 . 9
- . 7 1.5
- 2 . 2
- 1 . 0 - . 7 - . 2
1 7 . 9 - 2 . 7 2 0 . 6
2 5 . 8 17 .1 8 . 8
6.8 - 1 3 . 6
2 0 . 5
15 .2 13.9
1.4
11 .6 8 . 9 2 . 8
11 .8 2 . 7 9 .1
171 .6 - 5 . 4
29.8 22.9
6 . 9
- 6 . 3 - 6 . 3
. 1
- 1 9 . 1 - 2 7 . 7
8.7
198 .0 124 .5
6 .7 117 .8
7 3 . 6
153 .8 114 .1
6 . 7 107.4
39.7
.6
19 .1 19 .1
24.6 - 9 . 3 33.9
114 .6 2 7 . 6 8 7 . 0
3 . 3 12 .7
. 1
102 .0 7 6 . 9 2 5 . 1
8 .3 - 5 . 5 13.8
40.3 24.6 15.7
2 . 1 4 . 9
- 2 . 8
39.0 33.3
5.7
1 5 . 9 14 .8
1.1
8.3 5.0 3.3
6 1 . 7 5 5 . 3
6 . 3
- 6 9 . 0 3 . 9
38.7 32.5
6 . 2
40.4 40.8 - . 4
32.9 27.0
5.9
414.6 300.3 228.9 122.6 185.6 177.6
154 .0 8 1 . 3
8.9 72.4 72.7
164 .9 91 .1 8.9
82.2 73.8
.6
9 . 2 9 . 2
- 2 0 . 7 - 1 9 . 6
- 1 . 1
5 9 . 3 - . 6
59.9
6 5 . 4 - 8 . 6
2.4 . 1
8 6 . 9 4 1 . 9 4 5 . 1
3 . 5 - 1 7 . 3 2 . 3 - 2 . 3 1.1 - 1 5 . 0
1.4 - 4 . 0
5 . 5
15.3 1.5
13.8
1 6 . 9 10 .5
6 . 5
2 1 . 6 19 . 6
2 . 1
1 7 . 8 16.8
1.0
4 . 5 2 . 6 1.8
35.7 - 2 . 5 38.2
5 . 7 19 .1
6 9 . 5 6 5 . 7
3.8
24.4 24.7 - . 3
45.3 47.5 - 2 . 2
286.2 149.6 136.6
165.2 90.0
9.7 80.3 75.2
135.1 9 2 . 0
9 . 7 82.3 4 3 . 1
.6
2.4 2.4
37.9 - . 6 6.3 - . 1
- 1 2 . 0 - 3 3 . 8 - 2 6 . 2 11 .1 - 6 . 0 - 7 . 6
- 2 3 . 1 - 2 7 . 8 - 1 8 . 6
1.7 1.8 - . 1
2.0 - 3 . 7
5.7
3 1 . 6 4 . 6
2 7 . 0
- 6 . 8 17 .2
- 2 4 . 0
21.2 7.3
13 .8
10 .6 8 . 9 1.7
1 4 . 0 10 .6
3 . 4
30.8 27.4
3.4
- 1 6 . 4 15 .1
- 1 7 . 0 - 2 2 . 5
5 . 6
- 2 5 . 9 - 2 5 . 9
8 5 . 0 72 .4 12 . 6
4 6 1 . 4 3 0 5 . 5 155 .9
75.3 44.6 8.7 35.9 30.7
78.4 33.2 8.7 24.5 45.2
8.4 8.4
27.1 -12.1 -5.0 2.4 32.0 -14.5
43.5 19.8 9.5 -18.2
34.0 38.0
16.2 -2.7 6.3
77.6 366.2 50.1 279.1 27.5 87.1
-1.9 1.8
-3.7
1.5 .6 .9
2.9 -1.7 4.7
18.6 -5.7 24.3
27.4 12.1 15.3
4.8 -7.4 12.2
6.4 4.4 2.0
7.1 2.7 4.4
57.8 42.4 15.4
229.8 11.6
42.8 47.8 -5.0
53.3 53.2
.1
26.6 23.2 3.4
237.8 104.5 133.4
85.2 40.2 11.7 28.5 45.0
24.8 24.7 11.7 13.0
.1
.6
21.1 21.1
94.7 31.2 63.4
78.1
* 16.5
.1 57.9 33.1 24.9
2.1 -2.1
5.6 .1
5.5
18.0 2.7 15.3
4.1 -4.3 8.4
23.6 5.9 17.7
14.2 11.8 2.4
7.7 -.4 8.1
81.6 68.7 12.9
-49.7 6.4
144.4 -6.2
-22.4 173.0
Other Budget agency issues Loan participations (1) Spons. agency issues (2) Mortgage pool secur. (2)
392.4 Total purchases, by sector - U.S. govt, (agency issues)
8.8 Sponsored credit agencies 8.6 Treasury issues .2 Agency issues
12.2 12.8 -.6
53.4 48.1 5.3
3 1 7 . 9 178 .5 139 .5
156 .4 9 6 . 0 14 .8 8 1 . 2 6 0 . 4
158 .2 105.3
1 4 . 8 9 0 . 5 5 2 . 9
8.3 8 .3
3 8 . 7 - 1 0 . 7 - 6 . 2 - 1 8 . 2 4 4 . 9 7 . 5
89.8 52.3 37.5
93.5 3.4
- 7 . 2
7 1 . 7 3 0 . 1 4 1 . 6
- 5 3 . 6 - 1 8 . 1 - 3 . 8 8 .9
- 4 9 . 8 - 2 7 . 0
- . 4 4 .2
- 4 . 7
8 .4 3.2 5.3
13 .4 1 2 . 2
1 .2
28.0 8.2
19.8
12 .1 9 . 8 2 . 3
3.8 - 2 . 8
6.6
- 3 4 . 1 - 3 1 . 9
- 2 . 2
18 .4 1 5 . 2
Monetary authority Treasury issues Agency issues
Foreign Treasury Issues Agency Issues
Total private domestic Treasury issues Agency issues
Private domestic nonfinan. Total Treasury issues
Savings bonds (HH) Other Treasury issues
Agency Issues
7 8 9 10 11
3 4 5
6 7 8
9 10 11
12 13 14
15 16 17 18 19
Households 20 Total Treasury issues 21 Savings bonds 22 Other Treas. issues 23
Agency issues 24
Nonfarm noncorp. bus.
Nonfin. corp. business Treasury issues Agency Issues
25
26 27 28
State and local govts. 29 Treasury issues 30 Agency Issues 31
Commercial banking Treasury issues Agency issues
32 33 34
U.S. commercial banks 35 Domestic affiliates 36 Foreign banking offices 37 Banks in U.S.possessions 38
Private nonbank finance 39 Treasury issues 40 Agency Issues 41
Savings and loan assns. 42 Treasury issues 43 Agency issues 44
Mutual savings banks 45 Treasury issues 46 Agency issues 47
Credit unions 48 Treasury issues 49 Agency issues 50
Life insurance companies 51 Treasury issues 52 Agency issues 53
Private pension funds 54 Treasury issues 55 Agency Issues 56
St.&local govt.rtr.funds 57 Treasury issues 58 Agency issues 59
Other insurance cos. 60 Treasury issues 61 Agency issues 62
Mutual funds 63 Treasury issues 64 Agency issues 65
Money market funds 66 Treasury issues 67 Agency issues 68
Brokers 8 dealers 69 SCO issuers (agencies) 70
(1) For purchases, agency issues include loan participations. (2) These issues »rt included in credit market debt of financial
institutions in the Flow of Funds Accounts.
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Private Securities
44 Tax-Exempt Debt and Corporate and Forei9n Securities
UNADJUSTED NET FLOWS, $ MILLIONS
Private Securities
UNADJUSTED NET FLOWS, $ MILLIONS
I 1989 1 1990 I 1991 I IV I I II III IV I I II
ANNUAL FLOWS, $ BILLIONS 1983 1984 1985 1986
Tax-Exempt Debt Securities and Loans (1)
1 Net change in liabilities 2 State and local 9overnments 3 Short-term 4 Other
5 Households & nonprof. org. 6 Nonfin. corporate business
(industrial revenue bonds)
7 Net change in assets 8 Households 9 Nonfin. corporate business 10 St.Sloe. 90vt. 9en. funds
11 Commercial banking 12 Savings and loan assns. 13 Mutual savings banks
14 Insurance 15 Life insurance companies 16 St.filoc. govt.rtr.funds 17 Other insurance companies
18 Money market funds 19 Mutual funds 20 Brokers and dealers
4-847 4,225
478 3-747
1,052 -430
4,847 5,684
551
27 -72
349 46 40
263
-324 3,543 1,311
991 1,638
-2,596 4,234
-100 -547
991 -6-656 -1,000
341
-3,680 226 -41
1,177 294 300 583
7,752 3,807 -935
5,014 3-026
161 2-865
1,653 335
5,014 4,941 -250 641
-5,859 -146
82
2.581 1,641
50 890
-1,624 4,084 564
10-632 9,756 6-863 2,893
1-128 -252
10-632 1,955 750
1,041
-1.443 -12 190
1,255 855
-300 700
3,503 2,730
663
3-453 1,900 655
1,245
1,426 127
3,453 -3,498
250 525
-5,401 7
78
1,411 490 100 821
4,636 4,940
505
921 1,087
-1,564 2,651
127 -293
921 -9-291 1,344 696
-4,091 23
-242
1,779 1,000
779
6,693 5,268
-1,258
5-320 2-545
-1-127 3,672
2,489 286
5,320 4-064 1,250
125
-4,575 -29
3
832
832
-3,064 6,350 364
43.3 51.0 135.4 22.7 1 22.5 20.3 82.7 34.8 2 -1.5 -3.7 1.3 4.2 3 24.0 24.0 81.4 30.6 4
11.4 9.4
10.2 30.2 20.5 22.6
43.3 51.0 135.4 22.7 7 28.1 24.4 38.1 -22.7 8
.7 -.1 .8 3.1 9
.6 1.1 -1.2 -.3 10
3.7 .1
-.3
-.5 .9
•1.1 -.3
3.6 5.5 1.8
12.5
-.1
-3.7 -1.3 -.5 -1.9
7.0 5.6 4.5
57.1 .4
4.1 1.0 -.4 3.5
12.4 14.5 8.9
-28.4 11 -.2 12 -.1 13
15.3 14 2.0 15 -.3 16 13.7 17
27.5 18 31.8 19 -3.3 20
(1) Includes small amounts of taxable issues since 1986.
1 2 3
4 5 6 7 8 9
10 11 12 13 14 15
16 17 18 19 20
21 22
1 2
3 4 5 6 7 8 9
10
11 12 13 14 15
16 17 18 19 20
21 22 23 24 25
26 27
Net issues Nonfin. corporate business Foreign (1)
Total finance Commercial banking Savings and loan assns. Finance companies REITs SCO issuers
Net purchases Households Foreign (2) Commercial banking Savings and loan assns. Mutual savings banks
Insurance Life insurance companies Private pension funds St.Sloe. govt. rtr. funds Other insurance companies
Mutual funds Brokers and dealers
Net issues Mutual funds
Other sectors Nonfin. corporate business Foreign (1) Commercial banking Other insurance companies REITs Brokers and dealers
Net purchases
Mutual fund shares Households Nonfin. corp business Life insurance companies Private pension funds
Other corporate equities Households Foreign (2) Commercial banking Mutual savings banks
Insurance Life insurance cos. Private pension funds St.Sloe. govt. rtr. fnds Other insurance cos.
Mutual funds Brokers and dealers
32-144 21,851
270
10,023 2
-1,375 2-015 -178 9,559
32,144 -535 5,020 3,357
-5,677 -741
26,722 12-151
686 11-041 2,844
2,484 1,514
516 15-368
-14,852 -19-825
3-839 444 452 -16 254
516
15,368 13-939
249 442 738
-14-852 -28,671 -1,700
--3 12-078 1,082 988
9,000 1,008
3,316 128
24,225 7,560 8,747
7,918 -1,692
-782 2,524 -150
8,018
24,225 10,244 1,224 -108 2,046
-1,001
15,246 13,212
335 -1,106 2,805
2-469 -5,895
3,130 17,796
-14,666 -17,250
9 449 489 479
1,158
3,130
17,796 15,859
339 599 999
-14,666 -19,857 -3,288
--101
7,674 1,606 322
4,400 1,346
4,404 -3,498
40,703 17,191 5,175
18-337 -752
-3,151 8,500
-39 13,779
40,703 4,978 3,557 1-427 -980
-1,152
24,486 16-377 -487 6,266 2,330
4,668 3,719
13-079 18,768
-5,689 -12,000 5,985
454 455 146
-729
13,079
18-768 16,476
400 709
1,183
-5,689 -18,582 -3,614
1 -315
5,619 1,178 901
2,100 1,440
8,590 2,612
13-017 8,210
473
4,334 -4,893 -1,145 3,300
199 6,873
13-017 -14-490
195 -129
-1-711 178
26,411 14-884 3,495 5,032 3,000
2,521 42
Mutual
-8,850 7,898
-16,748 -18,500
541 459 386 -44 410
-8,850
7,898 5,097
490 866
1,445
-16-748 -2,507 -2,473
-1 -511
-8,039 1,049
-13,588 3-500 1,000
-1,079 -2,138
Corporate and
43,192 16,780 7,157
19,255 2-529 -480 5,700
116 11,390
43,192 16-766
892 2,997
-6,834 317
25,285 11-361 1,575 9,040 3,309
5-605 -1,836
32,438 20,140 2,868
9,430 2,113
-1,080 1,367 -187 7,217
32,438 2-685 4,598 1,446
-1,969 532
21,190 10,621
92 7,257 3,220
5,779 -1,823
Funds and Other
2,246 16,890
-14,644 -15,250
389 -98 300 257
—242
2,246
16,890 12-837
250 550
3,253
-14-644 -18,560 -5,167
--553
6,219 413
-1,793 6,750 849
3,388 29
32,625 28,217
4,408 -3,000 6-562 -22 496 114 258
32,625
28,217 23-805
370 749
3,293
4,408 -4,554 2,410
-4 -13
-480 751
-2,804 1,000 573
8-953 -1,904
Foreign Bonds
44,357 23,820 4,081
16,456 498 124
6,500
-9,334
44,357 14,815 6-580 1,103
-8,778 475
20-297 10-100 1,131 6,316 2,750
11,194 -1,329
Corporate Equit:
44-468 31,484
12-984 2,750 9-154 250 600 204 26
44,468
31,484 29-184
500 550
1,250
12,984 -11-218
7,459
--410
8,843 -50
6,702 2,000
191
8,868 -558
37.7 16.0 3.1
18.6 9.7 .1
5.3 K
3.6
37.7 -8.6 4.6 3.9 7.8 3.0
22.3 16.7 10.4 -.7
-4.2
2.7 2.0
ies
54.6 27.2
27.3 20.0 3.7 .8
1.5 .4
1.0
54.6
27.2 24.0 1.2 -.4 2.4
27.3 -27.0
6.0 X
.3
30.1 3.4 4.5
20.0 2.1
13.7 4.3
84.2 46.1 3.8
34.3 13.5 1.9 9.6 .1
9.3
84.2 -5.0 14.8 5.1 12.0 -1.5
49.6 23.7 10.2 11.5 4.1
3.6 5.7
-40.5 29.3
-69.8 -79.0
.9 1.1 3.9 2.0 1.1
-40.5
29.3 24.0 2.8 .5
2.1
-69.8 -81.8 -1.3 -.1 -.2
8.6 .3
5.4 7.3
-4.3
5.9 -1.0
128.2 73.5 3.8
50.9 18.9 4.6 15.8
.1 11.5
128.2 3.8
36.7 6.2 3.9
-2.5
67.3 37.8 10.4 10.9 8.2
3.6 9.2
17.2 84.4
-67.2 -84.5
3.7 1.4 7.8 2.0 2.5
17.2
84.4 69.2 3.7 1.1
10.4
-67.2 -106.9
4.3 .1
-.1
22.4 4.8
-9.0 28.6 -2.0
10.3 2.6
212.8 1 126.8 2 3.1 3
82.9 4 16.1 5 4.9 6
22.5 7 .3 8
39.0 9
212.8 10 52.9 11 40.2 12 23.7 13 7.2 14
-1.8 15
63.5 16 40.8 17 -2.2 18 10.7 19 14.1 20
26.8 21 .3 22
86.8 1 159.0 2
-72.2 3 -85.0 4
1.2 5 1.4 6 6.8 7 1.3 8 2.2 9
86.8 10
159.0 11 139.6 12 3.8 13 10.2 14 5.4 15
-72.2 16 -124.5 17
17.2 18 » 19 .9 20
12.7 21 -2.1 22 -8.0 23 23.1 24 -.3 25
20.2 26 1.4 27
(1) Net purchases of foreign issues by U.S. residents. (2) Net purchases of U.S. issues by foreign residents.
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12. 1991
Private Securities Private Securities
Tax-Exempt Debt and Corporate and Foreign Securities , j-
SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES ANNUAL FLOWS- $ BILLIONS I 1989 I 1990 I 1991
1987 1988 1989 1990 I IV I I II III IV I I II
Tax-Exempt Debt Securities and Loans (1)
1 49.3 49.8 30.4 20.1 19.1 12.4 24.5 30.0 13.5 11.3 27.5 Net chanye in liabilities 1 2 51.2 48.9 29.9 16.3 16.6 15.0 16.6 26.5 7.2 12.0 16.4 State and local governments 2 3 6.2 9.9 -.3 5.1 1.6 -2.0 5.1 14.9 2.3 1.4 1.7 Short-term 3 4 44.9 39.0 30.2 11.2 15.0 16.9 11.5 11.6 5.0 10.6 14.7 Other 4
5 -1.0 .9 1.7 4.1 4.2 -.4 6.6 4.5 5.7 .5 10.0 Households S nonprof. org. 5 6 -.9 .1 -1.1 -.3 -1.7 -2.2 1.3 -1.0 .5 -1.2 1.1 Nonfin. corporate business 6
(industrial revenue bonds)
7 49.3 49.8 30.4 20.1 19.1 12.4 24.5 30.0 13.5 11.3 27.5 Net change in assets 7 8 58.8 50.3 27.4 -3.3 10.6 1.1 8.5 8.4 -31.0 -6.3 7.7 Households 8 9 2.6 1.5 -1.0 -.3 - -4.0 -1.0 3.0 1.0 5.4 5.0 Nonfin. corporate business 9
10 .5 1.6 2.0 2.5 2.2 1.4 2.6 4.2 2.1 2.8 .5 St.Sloe. govt. gen. funds 10
11 -29.1 -22.7 -17.8 -16.4 -15.8 -13.7 -23.8 -18.5 -9.5 -17.6 -20.5 Commercial banking 11 12 .1 .3 -.3 .1 .1 .9 -.6 * * .1 -.1 Savings and loan assns. 12 13 -.2 -.1 .1 .3 -.3 -.2 .3 .8 .3 -1.0 * Mutual savings banks 13
14 21.9 7.4 1.8 6.4 1.4 4.7 10.3 5.0 5.6 7.1 3.3 Insurance 14 15 -1.0 -1.5 -.1 3.3 .2 1.2 6.6 3.4 2.0 4.0 - Life insurance companies 15 16 * -.4 * .2 .2 1.2 .2 -1.2 .4 St.Sloe, govt.rtr.funds 16 17 22.8 9.3 1.9 3.0 1.1 2.3 3.6 2.8 3.3 3.1 3.3 Other insurance companies 17
18 -2.3 4.2 3.7 14.3 6.9 5.7 10.8 13.8 26.8 1.6 6.1 Money market funds 18 19 5.4 8.0 14.9 15.6 15.9 11.2 16.9 12.7 21.4 16.9 26.1 Mutual funds 19 20 -8.4 -.8 -.4 .8 -2.0 5.2 .5 .7 -3.2 2.3 -.6 Brokers and dealers 20
(1) Includes small amounts of taxable issues since 1986.
Corporate and Foreign Bonds
1 2 3
4 5 6 7 8 9
10 11 12 13 14 15
16 17 18 19 20
21 22
165.7 79.4 7.4
78.9 13.5 4.4 21.5
.5 39.1
165.7 23.3 19.9 23.8 11.2 -1.7
86.4 66.9 10.0 1.9 7.5
7.3 -4.4
161.5 102.9 6.9
51.7 5.1 1.9
11.9 .2
32.5
161.5 -9.4 18.6 11.7 7.7
-1.5
110.5 69.2 12.3 18.9 10.1
14.2 9.8
115.8 73.7 5.3
36.8 4.7
-3.4 14.7
K
20.8
115.8 .7
12.9 3.4
-14.6 -2.4
106.3 53.6 3.3
35.9 13.6
5.7 3.7
121.1 49.7 21.6
49.8 -4.8 -5.6 20.0
.1 40.1
121.1 17.5 5.9 4.2
-7.5 -1.7
91.4 55.8 4.9 19.2 11.4
15.3 -4.0
125.9 87.4 -1.0
39.6 K
-6.0 8.1 -.7 38.2
125.9 14.6 15.7 10.5
-29.8 -1.9
101.3 51.1 6.9
32.0 11.4
9.5 6.1
96.4 30.2 32.7
33.5 -6.8 -1.3 10.1 -.6 32.1
96.4 38.9 9.5
-3.7 20.0 -3.7
50.5 50.8 -7.8 -3.7 11.2
8.6 -23.6
165.8 68.8 25.8
71.2 -3.0
-14.8 34.0 -.2
55.:
16*;.8 19.7 12.0 7.3
-4.7 -3.2
10,.-; Ti.4 a 1
27.i 9.3
19.9 14.9
52.0 32.8 1.2
18.0 -19.6 -3.9 13.2
.8 '7.5
52.0 -74.7
2.2 4.9
-11.1 -1.9
121.9 64.5 14.4 31.0 12.0
10.5 .2
170.3 67.1 26.5
76.7 10.1 -2.2 22.8
.5 45.6
170.3 86.1 -.2 8.3
-34.1 2.3
93.3 47.7 9.8
22.6 13.2
22.1 -7.3
129.0 80.6 8.9
39.5 8.5
-2.5 5.5 -.7
28.9
129.0 9.1
23.4 2.3 4.4 2.4
73.7 40.6 -9.1 29.3 12.9
20.9 -7.3
180.5 95.3 22.0
63.2 2.0
-2.1 26.0
-37.3
180.5 57.4 23.2 6.4
-35.7 3.4
84.3 35.0 9.7
28.6 11.0
46.8 -5.3
Net issues Nonfin. corporate business Foreign (1)
Total finance Commercial banking Savings and loan assns. Finance companies REITs SCO issuers
Net purchases Households Foreign (2) Commercial banking Savings and loan assns. Mutual savings banks
Insurance Life insurance companies Private pension funds St.Sloe. govt. rtr. funds Other insurance companies
Mutual funds Brokers and dealers
1 2 3
4 5 6 7 8 9
10 11 12 13 14 15
16 17 18 19 20
21 22
Mutual Funds and Other Corporate Fquities
1 2
3 4 5 6 7 8 9
10.9 73.9
-63.0 -75.5 -2.1 1.6 4.0 2.8 6.3
-124.2 1.1
-125.3 -129.5
.9 1.7 1.7 1.1
-1.2
-63.7 41.3
-105.1 -124.2
16.7 1.7 1.8 1.8
-3.0
9.6 61.4
-51.7 -63.0
6.9 1.3 1.6 .8 .6
14.9 72.4
57.6 79.3 17.2 1.8 1.8 -.1 1.0
-9.2 47.8
-57.0 -69.0
1.7 1.8 2.0 1.9 4.6
48.0 71.0
-22.9 ',8.0 23.8 1.8 1.8 .6
-2.9
-24.1 46.1
-70.2 -74.0 -1.0 1.8 1.5 - .2 1.6
23.6 80.6
-56.9 -61.0
3.2 -.4 1.2 1.0
-1.0
108.0 87.8
20.2 -12.0 28.8 -.1 2.0 .5
1.0
173.9 122.2
51.7 11.0 36.4 1.0 2.4 .8 .1
Mutual funds 2
51.7 Other sectors 3 Nonfin. corporate business 4 Foreign (1) 5 Commercial banking 6 Other insurance companies 7 REITs 8 Brokers and dealers 9
-124.2 -63.7 9.6 14.9 -9.2 48.0 -'4.1 23.6 108.0 173.9 Net purchases
11 12 13 14 15
16 17 18 19 20
21 22 23 24 25
26 27
73.9 75.5 -2.7 -2.2 3.3
-63.0 -109.5
15.6 -.1
•2 11.0 5.7
-24.0 26.4 2.7
26.9 -7.1
1.1 -2.7 -2.7 5.7 .9
-125.3 -115.4
-.5
* .4
6.0 -3.4
-20.3 25.9 3.8
-16.0 .1
41.3 38.0
.5 1.2 1.6
-105.1 -126.0
6.6
* .3
14.7 4.4
-17.9 23.7 4.4
1.2 -1.9
61.4 50.3 1.5 2.7 6.9
-51.7 -59.5 -14.5
--1.5
11.5 4.2
-14.2 16.8 4.6
15.3 -3.0
72.4 66.7 1.0 1.8 3.0
-57.6 133.5 3.8
47.8 40.0 1.4 2.4 4.0
-57.0 -79.6 -12.0
71.0 61.8 1.6 2.8 4./
-22.9 -66.9 -21.3
46.1 34.9 2.0 3.5 5.8
-70.2 3.1
-15.8
80.6 64.4 1.0 2 .2 13.0
-56.9 -94.6 -9.1
87.8 70.2 1.5 3.0
13.2
20.2 -19.1 11.5
122.2 113.0 2.0 2.2 5.0
51.7 -37.0 22.6
Mutual fund shares 11 Households 12 Nonfin. corp business 13 Life insurance companies 14 Private pension funds 15
Other corporate equities 16 Households 17 Foreign (2) 18 Commercial banking 19 Mutual savings banks 20
52. 4, 4.
39, 4,
19,
.0
.3 ,0 .7 .0
.7
.6
32 6 1.
19 5
17. -14,
.4
.4
.3
.3
.4
.5
.7
23.9 4.7 3.6 9.8 5.8
29.3 13.3
-39, 4.
-54, 6, 4,
-5, -11,
.?
.2
.4
.9
.0
_ 2 .0
28 1
-7 31, 3
19,
.9
.7
.2
.0
.4
.6
.4
-, 3,
-11 5 2,
36. -8,
.2
.0
.2
.8
.3
.7
.7
36
26 9,
30, 1,
.8
.2
.8
.5
.8
.0
.0
Insurance Life insurance cos. Private pension funds St.Sloe. govt. rtr. fnds Other insurance cos.
Mutual funds Brokers and dealers
21 22 23 24 25
26 27
(1) Net purchases of foreign issues by U.S. residents. (2) Net purchases of U.S. issues by foreign residents.
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1991 Mort9a9es I
46 Mortgage Markets by Type of Mortgage
UNADJUSTED NET FLOWS, $ MILLIONS
Mortgages I
UNADJUSTED NET FLOWS, $ MILLIONS
I 1989 I I IV I I
1990 I II III IV I
1991 I II
ANNUAL FLOWS- $ BILLIONS 1983 1984 1985 1986
Total Mortgages
1 Net change in mortgages 2 Home mortgages 3 Multifamily residential 4 Commercial 5 Farm
6 Borrowings by: 7 U.S. government 8 REITs
66-535 56-745 3-208 7-557 -975
66-535
71,609 60-909 5,045 5-819 -164
71,609 1
26
59,799 61-228 -4-049 2,524
96
59-799 -3 46
10 11 12 13 14
Households Nonfinancial business
Farms Nonfarm noncorporate Corporate
62,723 72,928 3-913 -1,346 -975 -164 6-000 9-000
-1,112 -10,182
15 Funds advanced by: 16 Households 17 Nonfarm noncorp. business 18 St.Sloc. govt. gen. funds
19 U.S. government 20 Sponsored credit agencies(l) 21 Mortgage pools
22 Private finan. institutions 23 Commercial banking 24 Savings institutions 25 SSL associations (1) 26 Mutual savings banks (1) 27 Credit unions
28 Insurance 29 Life insurance companies 30 Private pension funds 31 St.Sloc. govt. rtr.funds 32 Other insurance cos. 33 Finance companies 34 REITs
66,535 9,078 -418 3,361
95 3-567
42-843
8-009 21,437
-21-936 -21-926 -1-620 1,610
6,767 6,010
169 402 186
1,575 166
71-609 4,143 -418 962
7-360 3-08 7
35,616
20,859 19,799 •15,754 -14,701 -1,497
444
6,740 6,068 416 106 150
10,028 46
56,209 50-473 4-114 1,295 327
56 209 -1 67
Private nonfinancial sectors 66-636 71,582 59-756 57,285 2-471
96 -4-800 7,175
59,799 7-206 -418 1,420
10-743 -2,870 39,033
4,685 27,895 •31,750 -29-088 -3-932 1,270
4,278 4-584 -514 84 124
4,830 -568
56-143 51,130 5,013
327 2 ,225 2-461
56-209 7,714 -418 1,562
13.640 1,238
34,335
-1-862 16,597 -23,166 -24,136
-934 1,904
1,153 1,197 -212
68 100
3,163 391
40,970 40-001 1,474 -204 -301
40,970
120
40,850 44-758 -3,908
-301 -4-250
643
40-970 2-190 -418 1-928
3-832 4-234
41,338
-12,134 13,169
-31-050 -30-862 -1-573 1,385
1-438 1,272 -144 110 200
4,838 -529
18-846 20-131
564 -1,513
-336
18,846 1
20
18,825 31-697
-12,872 -336
-2,627 -9,909
18,846 1.905 -416
-1,838
9,659 2,659 30,526
-23,649 11,369
-25,363 -23,508 -2,394
539
-4,206 -4,230 -129
-7 160
-5,096 -353
48,581 50,878
516 -3-039
226
48-581 -1
-31
48,613 44,918 3,695 226
-1,775 5,244
48-581 3-594 -418 963
8,670 3,645
40,258
-8,131 15,114 -20,965 -20,612 -2-401 2,048
-3,729 -3,886
-118 75
200 1,332
117
35 (1) Memo: FHLB loans to thrifts (included in
-9,313 -8-945 -6,557 'other loans" category).
-787 -10,095 -12,262
187.8 120.4 14.0 51.0 2.4
187.8 -.1
K
187.9 118.9 69.0 2.4 71.0 -4.4
187.8 .7
4.3 7.9
1.2 10.4 66.4
96.8 29.2 53.5 47.1 3.6 2.8
11.3 9.0 .7 .9 .7
2.7 .1
-7.0
223.1 136.7 25.2 62.4 -1.2
223.1 -.1 .4
222.8 137.1 85.6 -1.2 88.2 -1.3
223.1 1.5
10.0 10.2
.5 12.3 44.4
144.1 44.6 86.6 77.5 6.9 2.2
6.7 5.7 . 1 .6 .4
5.4 .8
15.7
242.2 156.8 29.7 62.3 -6.6
242.2 -.1 .1
242 .2 155.7 86.5 -6.6 111.0 -17.9
242.2 3.1 4.7 9.8
1.8 9.2
79.9
133.7 49.7 58.5 47.8 7.6 3.2
16.3 15.1
.4
.1
.7 6.8 2.4
14.2
316.4 1 218.7 2 33.5 3 73.7 4 -9.5 5
316.4 6 * 7 .1 8
316.3 9 221.0 10 95.4 11 -9.5 12 76.3 13 28.6 14
316.4 15 36.8 16 2.7 17 11.8 18
.5 19 -9.7 20 139.2 21
135.0 22 70.1 23 26.1 24 10.7 25 8.5 26 6.9 27
23.1 28 22 .0 29 -.2 30 .3 31 .9 32
15.8 33 * 34
19.8 35
Home Mortgages (1)
1 Net borrowing 2 Households 3 Nonfarm noncorp. business 4 Nonfin. corporate business
5 Net change in assets 6 Households 7 Nonfarm noncorp. business 8 State and local governments
9 U.S. government 10 Spons. credit agencies 11 Mortgage pools 12 Commercial banking
13 Savings institutions 14 Savings and loan assns. 15 Mutual savings banks 16 Credit unions
17 Insurance 18 Life insurance companies 19 Private pension funds 20 St.Sloc. govt. rtr. funds
21 Finance companies 22 REITs
56-745 60,225 -1,740 -1-740
56-745 7,081
125
-35 3,106
42-406 13-483
-13,778 -14-760
-628 1,610
689 537 55 97
60-909 69-049 -4-070 -4,070
60-909 2,827
125 622
3,860 3,314 34-519 15-427
-8-268 -6,950 -1-762
444
8-165 -4
61,228 54-740 3-244 3,244
61-228 5,180
125 744
5,830 -2,579 38-700 26,156
-17-073 -16-147 -2,196 1,270
-1-193 215
-1-463 55
5,340
50-473 48-123 1,175 1,175
50-473 6-372
125 793
4,336 811
34-526 14,816
-14-162 -15-236
-830 1,904
-15 33 -9
-39
2-872 -1
40-001 43,247 -1,623 -1,623
40,001 371 125
1,332
2-595 3,806 39,537 10,137
-22,803 -23,243
-945 1,385
-730 -721
-3 -6
5,627 4
20,131 30-153 -5,011 -5,011
20,131 1,547
125 -1,000
1,503 2,588 30,093 7,691
-16-779 -15-408 -1,910
539
-628 -572 -10 -46
-4-953 -56
50,878 43-418 3,730 3,730
50-878 3,274
125 802
1,857 3,458 39-756 13,070
-12-820 -13-166 -1,702 2-048
-214 -200
-6 -8
1-569 1
120.4 116.4 4.0
K
120.4 -.1 1.6 5.2
.7 9.4
65.2 8.7
30.0 22.1 5.1 2.8
-2.8 -1.4 -1.4
* 2.7
X
136.7 134.7 2.0
« 136.7 4.9 3.3 5.4
.6 11.2 43.4 12.9
50.9 45.4 3.3 2.2
-.7 -1.2
.6 -.1
4.6
*
156.8 153.3 3.8 -.3
156.8 3.8 .6
5.9
.9 11.7 78.6 17.3
33.7 26.1 4.4 3.2
-2.1 -1.7 -.3 -.1
6.5 .1
218.7 1 214.9 2
1.9 3 1.9 4
218.7 5 33.9 6 2.2 7 3.9 8
-.7 9 -3.4 10 134.3 11 20.0 12
13.5 13 .5 14
6.1 15 6.9 16
* 17 .4 18 .2 19
-.6 20
14.9 21 * 22
(1) 1-4 family
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12 Mortgages I
SEASONALLY ADJUSTED ANNUAL RATES
Mortgages I
Mort9a9e Markets by Type of Mortgage 47
SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS- $ BILLIONS 1987 1988 1989 1990
I 1989 I I IV I
1990 II III
1991 I II
1 2 3 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 33 34
324.9 234.9 24.6 71.9 -6.4
324.9 K
.4
324.5 265.3 59.2 -6.4 50.0 15.6
324.9 17.5 -1.7 8.7
-5.3 -5.0 142.3
168.4 86.2 65.5 35.3 19.7 10.5
17.8 18.5 -1.2 - .2 .6
-2.1 1.0
306.7 231.0 16.8 61.0 -2.1
306.7 k
.3
306.5 257.9 48.6 -2.1 39.5 11.1
306.7 28.3 -1.7 4.0
-1.1 8.9 74.9
193.4 77.8 90.5 60.2 22.2 8.2
20.8 20.3
K
.3
.3 3.4 .9
275.7 218.0 16.5 42.7 -1.5
275.7
* X
275.7 235.0 40.7 -1.5 35.6 6.5
275.7 20.9 -1.7 8.8
-.8 9.7
125.8
113.1 94.3 -8.4
-17.6 1.7 7.6
13.9 12.6
.9 -.4 .8
13.6 -.3
228.6 212.6
6.6 9.4
X
228.6
« .3
228.3 226.1 2.2
X
2.2 .1
228.6 21.3 -1.7 5.9
35.6 5.7
150.3
11.5 77.5
-101.7 -98.8 -7.9 5.0
13.6 13.1 -.5 .4 .6
22.9 -.7
Total Mortgages
240.1 214.3
9.4 19.6 -3.2
240.1
--.4 240.5 231.6 8.9
-3.2 24.0
-12.0
240.1 26.2 -1.7 13.4
X
14.3 161.1
26.8 87.2
-88.4 -87.7 -6.6 5.9
15.6 12.0 1.3 1.6 .7
11.6 .7
348.5 298.7 22.7 26.6
.5
348.5 X
-1 348.4 316.2 32.2
.5 36.0 -4.3
348.5 30.1 -1.7 3.8
29.3 12.3
162.0
112.6 89.2 -59.5 -58.8 -5.3 4.6
33.9 32.0
.9
.4
.6 48.8
.2
216.2 220.0 -15.5 13.5 -1.9
216.2 X
.2
216.0 231.4 -15.4 -1.9
-19.2 5.8
216.2 19.3 -1.7 5.7
43.5 -11.5 166.8
-6.0 101.1
-127.4 -116.4 -15.5
4.5
17.1 18.6 -2.3
.3
.5 5.4
-2.3
213.0 184.7 16.2 10.1 2.0
213.0 X
.3
212.7 197.3 15.4 2.0 8.9 4.6
213.0 39.2 -1.7 6.2
54.5 5.0
116.9
-7.3 65.0
-95.2 -96.5 -4.6 6.0
9.1 8.9 -.5 .3 .4
12.3 1.6
136.7 147.1 2.8
-12.5 -.7
136.7
-.5 136.3 159.6 -23.3
-.7 -17.0 -5.6
136.7 -3.7 -1.7 7.7
15.0 16.9
155.5
-53.1 54.6
-124.9 -123.4
-6.3 4.9
-5.7 -7.0
.1
.4
.8 25.0 -2.1
138.7 136.8 4.6
-2.9
•2 138.7
* .1
138.6 151.0 -12.4
2 -lo!5 -2.1
138.7 22.9 -1.7 -7.4
38.4 10.6
141.3
-65.5 55.5
-97.6 -94.0 -8.9 5.4
-10.5 -9.8 -1.3
x .6
-11.4 -1.4
169.8 176.6 2.9
-8.0 -1.6
169.8 X
-.1
169.9 181.3 -11.4 -1.6 -7.1 -2.7
169.8 3.7
-1.7 3.9
35.2 14.6
173.0
-58.8 49.1
-84.3 -82.4 -9.4 7.5
-14.6 -15.0
-.7 .3 .8
-9.4 .5
Net change in mortgages Home mortgages Multifamily residential Commercial Farm
Borrowings by: U.S. government REITs
Private nonfinancial sectors Households Nonfinancial business
Farms Nonfarm noncorporate Corporate
Funds advanced by: Households Nonfarm noncorp. business St.Sloe. govt. gen. funds
U.S. government Sponsored credit agencies(l) Mortgage pools
Private finan. institutions Commercial banking Savings institutions
S8L associations (1) Mutual savings banks (1) Credit unions
Insurance Life insurance companies Private pension funds St.Sloc. govt. rtr.funds Other insurance cos.
Finance companies REITs
1 2 3 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 33 34
19.7 -11.0 -15.5 -27.9 -52.9 (1) Memo: FHLB loans to thrifts (included in "other loans" category).
Home Mortgages (1)
1 2 3 4
5 6 7 8
9 10 11 12
13 14 15 16
17 18 19 20
21 22
234.9 233.0
.9
.9
234.9 7.6 .5
1.2
-3.3 .1
137.8 37.4
55.5 32.9 12.0 10.5
-.7 .4
-1.4 .3
-1.2 X
231.0 230.8
.1
.1
231.0 25.1
.5 2.5
.3 9.7
69.7 38.0
80.0 56.8 15.0 8.2
2.0 2.1
X
-.1
3.2 X
218.0 221.6 -1.8 -1.8
218.0 15.1
.5 6.5
.2 9.0
120.2 51.0
3.4 -4.7
.6 7.6
-1.6 -1.5
.6 -.7
13.7 X
212.6 215.2 -1.3 -1.3
212.6 14.8
.5 3.5
16.6 5.4
147.3 66.5
-62.3 -61.6 -5.7 5.0
-1.6 -.2
-1.5 X
22.0 X
214.3 221.6 -3.7 -3.7
214.3 16.6
.5 8.5
-.1 12.3
159.3 58.7
-55.6 -59.0 -2.5 5.9
2.7 2.1 .2 .4
11.5 X
298.7 300.7 -1.0 -1.0
298.7 28.4
.5 2.5
15.4 13.2 157.6 67.9
-30.2 -27.8 -7.0 4.6
2.1 2.0
.1
41.4 X
220.0 221.2 -.6 -.6
220.0 8.7 .5
3.0
23.3 -10.2 165.5 95.0
-68.9 -64.6 -8.8 4.5
-4.3 1.3
-5.9 # 2
7.4 X
184.7 185.2 -.3 -.3
184.7 33.5
.5 3.2
17.3 3.3
117.7 57.6
-58.3 -60.9 -3.3 6.0
-1.2 -1.0
_ 2
11.1 X
147.1 153.5 -3.2 -3.2
147.1 -11.6
.5 5.3
10.4 15.2 148.3 45.7
-91.8 -93.0 -3.8 4.9
-3.0 -3.0
X
X
28.1
136.8 144.9 -4.0 -4.0
136.8 24.3
.5 -4.0
6.0 10.2
139.5 36.8
-63.9 -61.6 -7.6 5.4
-1.5 -1.3
X
-.2
-10.8 -.2
176.6 Net borrowing 1 175.3 Households 2
.6 Nonfarm noncorp. business 3
.6 Nonfin. corporate business 4
176.6 Net change in assets 5 -.5 Households 6 .5 Nonfarm noncorp. business 7
3.2 State and local governments 8
7.4 U.S. government 9 14.0 Spons. credit agencies 10
171.0 Mortgage pools 11 41.9 Commercial banking 12
-52.0 Savings institutions 13 -52.7 Savings and loan assns. 14 -6.8 Mutual savings banks 15 7.5 Credit unions 16
-.4 Insurance 17 -.3 Life insurance companies 18
* Private pension funds 19 * St.Sloc. govt. rtr. funds 20
-8.5 Finance companies REITs
(1) 1-4 family
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1991 Mortgages II
48 Mortgage Markets, Continued
UNADJUSTED NET FLOWS- $ MILLIONS
Mortgages II
UNADJUSTED NET FLOWS, $ MILLIONS
1989 IV
1990 II III
1991 I II IV I
Multifamily Residential Mortgages
ANNUAL FLOWS- $ BILLIONS 1983 1984 1985 1986
1 Net borrowing 2 Nonfarm noncorp. business 3 Nonfin. corporate business 4 REITs 5 U.S. government
6 Net change in assets 7 Households 8 Nonfarm noncorp. business 9 State and local governments
10 U.S. government 11 Spons. credit agencies 12 Mortgage pools 13 Commercial banking
14 Savings institutions 15 Savings and loan assns, 16 Mutual savings banks
17 Life insurance companies 18 Private pension funds 19 St.Slocal govt. rtr. funds
Finance companies REITs
3,208 3-015 226 -33
-3,208
922 -50
1,114
226 1-153 439 789
2,433 1,671 -762
823 25 154
-4 50
5,045 4-314
721 9 1
5,045 837 -50
2-452
1,704 75
1-099 -963
-2-173 -2,501
328
648 -269 107
1,601 -23
-4,049 -4-311
250 15 -3
-4,049 830 -50
-2,030
2,763 -17 334 507
-6-482 -5,264 -1,218
472 -29 -2
-336 -9
4,114 3-968
125 22 -1
4,114 922 -50 658
5,210 606
-190 -520
-2-569 -2,531
-38
73 -72 -65
118 -7
1,474 1-434
-40 -
1,474 933 -50 508
969 526
1,804 -809
-2,984 -2-698
-286
1,306 -13 -8
-540 -168
564 556
-7 1
564 -645 -49
-878
4,411 280 435 911
-3-063 -2,808
-255
-559 -25 -34
-172 -48
516 527
--10 -1
516 -213 -50 81
3,695 405 526 -72
-3-055 -2,636
-419
-533 -20 -10
-184 -54
14.0 17.3 -3.2
K
-.1
14.0 .3
1.1 2.4
-.3 -.1 1.2 1.9
7.0 8.9 -1.9
.3 M
.6
-.4 .1
25.2 27.0 -1.8
.1 -.1
25.2 .4
2.0 4.5
-.7 .9
1.1 2.1
14.4 13.7
.7
..2 #2 .1
M
.4
29.7 33.9 -4.1
K
-.1
29.7 2.6 .7
3.2
« 1.9 1.5 3.1
14.5 13.1 1.3
1.0 .7 M
^2 .4
33.5 1 33.0 2
.5 3 « 4 « 5
33.5 6 2.5 7 1.0 8 7.0 9
.7 10
.3 11 5.1 12 7.4 13
7.2 14 5.8 15 1.5 16
1.1 17 .4 18 « 19
.7 20 » 21
Commercial Mortgages
1 Net borrowing 2 Households 3 Nonfarm noncorp. business 4 Nonfin. corporate business 5 REITs
6 Net change in assets 7 Households 8 Nonfarm noncorp. business 9 State and local governments 10 U.S. government 11 Commercial banking
12 Savings institutions 13 Savings and loan assns. 14 Mutual savings banks
15 Life insurance companies 16 Private pension funds 17 St.Slocal govt. rtr. funds 18 Other insurance companies
19 20
Finance companies REITs
7,557 2,498 4,725
402 -68
7,557 1-262 -500 137 77
7,013
•5-726 -5,495 -231
4,719 89 151 186
41 108
5,819 3-879 8,756 -6-833
17
5,819 385
-500 -2-109 2,056 5,220
-5,314 -5,250
-64
4,950 685 -39 150
262 73
2,524 2-545
-3,733 3-681
31
2,524 1,279 -500 2,731 2,312 870
-8,190 -7-677
-513
3,602 978 49 124
-174 -557
1,295 3,007
-2,918 1-161
45
1,295 540
-500 88
4,221 2,108
-6,436 -6-369
-67
561 -131 172 100
173 399
-204 1,511
-4-061 2,266
80
-204 1,022 -500
85 394
3-940
-5,262 -4,921 -341
536 -128 123 200
-249 -365
-1,513 1,544 1,828
-4,898 13
-1,513 1,123 -499 87
3,977 2,504
-5,521 -5,292
-229
-3-103 -94 73 160
29 -249
-3,039 1,500
-6,032 1,514 -21
-3,039 579
-500 87
3-207 1,540
-5,090 -4-810
-280
-3,180 -92 93
200
-53 170
51.0 2.5
49.7 -1.2
K
51.0 .4
1.8 .4 .4
17.7
16.6 16.1
.5
10.3 2.0 .3 .7
.4 M
62.4 2.5
59.2 .5 .3
62.4 -.9 4.4 .3 K
28.8
21.3 18.3 2.9
7.3 -.7 .6 .4
.7
.4
62.3 2.4 73.3
-13.5
62.3 -.1 3.4 .7 .3
28.1
10.3 8.6 1.7
16.5 K
.2
.7
.1 1.9
73.7 1 6.1 2
41.4 3 26.1 4
.1 5
73.7 6 4.1 7 -.5 8 .7 9 .2 10
41.3 11
5.3 12 4.5 13 .8 14
21.4 15 -.8 16 .8 17 .9 18
.2 19 * 20
Farm Mortgages
1 Net borrowing
2 Net change in assets 3 Households 4 Nonfarm noncorp. business 5 State and local governments
6 U.S. government 7 Sponsored credit agencies 8 Mortgage pools
9 Commercial banks 10 Mutual savings banks 11 Life insurance companies 12 St.Slocal govt. rtr. funds
-975 -187
7 -12
-173 -692
"2 152
1 -69
-
-164 94 7
-3
-260 -302
_2
115 1
176 10
96 -83
7 -25
-162 -274
-1
362 -5 295 -18
327 -120
7 23
-127 -179 -1
193 1
530
-
-301 -136
7 3
-126 -98 -3
-99 -1 151
1
-336 -120
7 -47
-232 -209 -2
263
-4 -
226 -46
7 -7
-89 -218 -24
576
-27 -
2.4
2.4 .2
-.1 K
.4 1.1
M
1.0
--.1
-1
-1 -2
-
#2
.2
.9
.3 K
.5
.3 K
.9 K
.3
-6.6
-6.6 -3.2
K
M
.6 -4.5 -.2
1.2 .1
-.6
-9.5 1
-9.5 2 -3.8 3
* 4 .2 5
.3 6 -6.5 7 -.2 8
1.4 9 « 10
-.9 11
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1991 Mortgages II
SEASONALLY ADJUSTED ANNUAL RATES
Mort9a9es II
Mortgage Markets. Continued 49 SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS- $ BILLIONS 1987 1988 1989 1990
I 1989 I IV
1990 II III
1991 I II
Multifatnily Residential Mortgages
1 2 3 4 5
6 7 8 9
10 11 12 13
14 15 16
17 18 19
20 21
24.6 23.7
.7
.1
* 24.6 4.2 - .2 7.0
.4 -.3 4.5 4.1
4.8 2.7 2.2
1.6 -.5 -.4
-1.0 .3
16.8 15.7 1.0 .1
* 16.8 -.2 -.2 1.1
.3 1.1 5.2 .8
7.3 3.5 3.8
1.0 x
-.2
.3
.3
16.5 15.5
.9 X
X
16.5 2.8 - .2 2.0
.5 2.5 5.6 4.8
-4.8 -4.4 -.3
3.6 -.1 .1
-.2 -.1
6.6 5.4 1.1 .1
* 6.6 3.5 -.2 1.6
10.6 1.2 3.0
-1.8
-14.2 -13.0 -1.2
2.5 -.4
K
.8 -.2
9.4 8.6 .9
-.1
-9.4 .8
22.7 19.8 2.9
X
K
22.7 6.0
-15.5 -16.5
1.0 .1 K
-15.5 3.8
16.2 15.7
.5
.1 K
16.2 3.3
2.8 2.7
-.2 -2.8 1.1
4.6 4.6
-X X
4.6 X
4.5
-9.7 -6.7 -3.0
3.1 .1 .6
9.8
.5 6.6 4.6 .3 1.8 4.4 3.2 -3.9
-8.7 -10.0
1.3
2.7 -1.1
.4
6.4 -.1
-8.1
11.6 -.1 1.3 2.0
1.6 -.1
2.6
20.8 2.4 -.8 -2.1
25.9 -10.3 21.1 -10.1 -4.9 -.2
.5 -.3 -.3
2.0
3.5 2.1 7.2
-3.2
-11.9 -10.8 -1.1
5.2 -.1
-2.2 -.7
-3.5
17.4 1.1 1.7 3.6
-12.3 -11.2 -1.0
-.1 -.1
2.9 Net borrowing 1 2.9 Nonfarm noncorp. business 2
Nonfin. corporate business 3 * REITs 4 * U.S. government 5
2.9 Net change in assets 6 -.3 Households 7 -.2 Nonfarm noncorp. business 8 .3 State and local governments 9
15.3 U.S. government 10 1.6 Spons. credit agencies 11 2.1 Mortgage pools 12 -.3 Commercial banking 13
-12.2 Savings institutions 14 -10.5 Savings and loan assns. 15 -1.7 Mutual savings banks 16
-2.4 -.1
-.7 -.2
Life insurance companies 17 Private pension funds 18 St.Slocal govt. rtr. funds 19
Finance companies REITs
20 21
Commercial Mortgages
1 2 3 4 5
6 7 8 9 10 11
12 13 14
15 16 17 18
19 20
71.9 32.3 25.4 13.9
.3
71.9 7.4
-2.0 .6
-1.8 43.0
5.2 -.3 5.5
17.6 .7
-.1 .6
.1
.7
61.0 27.0 23.7 10.1
.2
61.0 3.9
-2.0 .4
-1.3 37.9
3.2 -.1 3.3
17.4 .1 .5 .3
K
.6
42.7 13.4 21.9 7.4
X
42.7 3.2
-2.0 .3
-.9 37.3
-7.1 -8.4 1.4
10.6 .4 2 .8
.1 -.2
9.4 10.9 -2.0
.3
•2
9.4 3.2
-2.0 .8
9.0 12.1
-25.2 -24.2 -1.0
9.6 1.4 .3 .6
* -.5
19.6 10.0 19.1 -9.2 -.3
19.6 9.5
-2.0 .5 .3
24.4
7.0 1.0 .6 .7
.2
.4
26.6 15.5 17.2 -6.2
.1
26.6 -5.2 -2.0 -8.4 8.2 24.5
13.5 10.2 -2.1 5.3 .1
13.5 8.2 -2.0 10.9 9.2 3.3
26.3 1.9
1.0 .3
14.9 3.7 .2 .5
-.7 -2.2
10.1 12.0 -6.5 4.3
10.1 2.4
-2.0 .4
16.9 8.6
-23.0 -20.6 -32.5 -26.6 -22.0 -21.0 -30.7 -25.5 -1.0 .4 -1.8 -1.2
7.3 -.2 .7 .4
.7 1.6
-12.5 6.0
-16.5 -2.4
.3
-12.5 7.4
-2.0 .3
1.6 12.2
-21.1 -19.7 -1.4
-9.8 .1 .5 .8
-2.9 -8.0 Net borrowing 6.2 6.0 Households
-11.1 -10.6 Nonfarm noncorp. business 1.9 -3.3 Nonfin. corporate business .1 -.1 REITs
-2.9 -8.0 Net change in assets -1.7 5.9 Households -2.0 -2.0 Nonfarm noncorp. business
.3 .3 State and local governments 15.9 12.8 U.S. government 13.7 5.9 Commercial banking
-21.4 -20.1 Savings institutions -21.2 -19.2 Savings and loan assns. -.3 -.9 Mutual savings banks
-6.7 -11.9 Life insurance companies -1.2 -.6 Private pension funds
.3 .4 St.Slocal govt. rtr. funds
.6 .8 Other insurance companies
-1, -1.
.1 -1.0
-.2 Finance companies .7 REITs
7 8 9 10 11
12 13 14
15 16 17 18
19 20
Farm Mortgages
1
2 3 4 5
6 7 8
9 10 11 12
-6.4
-6.4 -1.7
X
X
-.5 -4.8
X
1.7 X
-1.0
-
-2.1
-2.1 -.6
X
X
-.4 -1.9
X
1.1
-- .2 -
-1.5
-1.5 -.2
X
X
-.6 -1.8
* 1.2
X
-.1
-
-.7 -.9
.6 x
1.2
-3.2
-3.2 .5 .9
-1.9 -1.4
-.7 •2.6 .1
.9 X
_ 2
-
-1.0 -1.1
-.6 X
1.1 X
--1
-
.6 2 X
.8 X
.8
.1
-.5 -.7
X
.9 X
2.1
-
-.5 -.3
X
-.1 X
.6 X
-.9 -.6
* 1.3
-.3 -
-1.6 Net borrowing 1
-1.6 Net change in assets 2 -1.4 Households 3
* Nonfarm noncorp. business 4 * State and local governments 5
-.4 U.S. government 6 -1.0 Sponsored credit agencies 7 -.1 Mortgage pools 8
1.6 Commercial banks 9 Mutual savings banks 10
-.3 Life insurance companies 11 St.aiocal govt. rtr. funds 12
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Consumer Credit and Bank Loans n.e.c. Consumer Credit and Bank Loans n.e.c.
50 Consumer Credit and Bank Loans Not Elsewhere Classified
UNADJUSTED NET FLOWS, $ MILLIONS UNADJUSTED NET FLOWS, $ MILLIONS
I 1989 I I IV I
1990 II III IV I
1991 I II
Consumer Credit
ANNUAL FLOWS- $ BILLIONS 1983 1984 1985 1986
1 Net change in liabilities (HH) 2 Installment credit 3 Nonlnstallment credit
4 Net change in assets 5 Installment credit 6 Nonfarm noncorp. business 7 Nonfin. corporate business 8 Commercial banking 9 Savings and loan assns. 10 Mutual savings banks 11 Credit unions 12 Finance companies 13 SCO issuers
14 Nonlnstallment credit 15 Nonfarm noncorp. business 16 Nonfin. corporate business 17 Commercial banking 18 Savings and loan assns. 19 Mutual savings banks
19,567 19,191
376
19.567 19,191
92 1,954
11,363 -2,033
-295 -410
-2,389 10,909
376 249 994
-744 -167
44
-12,390 -11,246 -1,144
-12,390 -11,246
-166 -2,590 -9,724
-481 847
-1,644 -4,536 7,048
-1,144 -303
-1,214 353
-329 349
7.101 8,301 -1,200
7,101 8,301
-13 325
1,092 -1,988 -1,114
330 660
9,009
-1,200 11 45
-1.092 -31
-133
9,271 10,990 -1,719
9,271 10-990
-50 249
8,560 -4,822
988 1,196 1,776 3,093
-1,719 8 34
-1,560 -101 -100
10,272 9,354
918
10,272 9,354 285
1,709 4,768
-3,041 -2,026
-85 -746 8,490
918 391
1,562 -768 -117 -150
-26,632 -22,838 -3,794
-26,632 -22,838
-313 -2,300
-11-712 -3,910
785 -2,139 -8-866 5,617
-3,794 -390
-1,559 -1,680 4-385
-4,550
1,861 2,561 -700
1,861 2,561 -111 -336
-2,312 -5,072 2,408 1,152 1,298 5,534
-700 -8 -30
-522 4,130
-4,270
48.9 44.1 4.8
48.9 44.1
.3 2.0 19.5 4.0 1.0 6.2 11.0
4.8 .3
1.4 3.2 1.8
-1.9
81.7 75.0 6.6
81.7 75.0
2 1.3
39.6 10.1 2.5 12.7 8.6
6.6 .2 .7
5.6 -1.6 1.7
82.5 77.0 5.5
82.5 77.0
.1
.8 33.4 11.0 1.9 6.6
23.1
5.5 .2 .8
4.0 - .2 .6
58.0 55.3 2.7
58.0 55.3
K
-1.1 21.8 6.4 .7
4.4 23.1
2.7 .3
1.2 3.0
-1.5 -.4
1 2 3
4 5 6 7 8 9 10 11 12 13
14 15 16 17 18 19
Bank Loans Not Elsewhere Classified
Total loans by commercial 1 banking, Flow of Funds basis
- Loans elsewhere classified: 2 Mortgages 3 Consumer credit 4 Security credit 5 Open-market paper 6 = Banking sector total bank
loans n.e.c. 7 U.S. chartered banks 8 Domestic affiliates 9 Foreign banking off. in US 10 Banks in U.S. possessions
11 • Loans by F.R. banks 12 = Total bank loans n.e.c.
45,924 -3.900 37,829 20,465 25.061 -9,993 6,168
21,437 10,619 -598 1,522
12,944
6,808 -1,275 7,322
89
19,799 -9,371 -1,197
-325 -12,806
-6,431 506
-6,986 105
-516 947
9,503
4-848 -308 5,025 -62
16,597 7,000 -832 -441
-1,859
-3,444 -1,325 2,985 -75
13,169 4,000
556 3,078 4,258
-2,456 894
5,912 -92
11,369 •13,392
48 427
-8,445
10,729 -921 3,333 -128
15,114 -2,834 5-006
-1,898 -9,220
-14,256 -912 6,382 -434
12,944 -12,806 -1,859 4,258 -8,445
13 14 15 16 17 18
19 20 21 22
23 24 25 26
Net change in liabilities Nonfinancial sectors
Households Farm business Nonfarm noncorp. business Corporate business
Foreign Official institutions Banks Other
Financial sectors Savings and loan assns. Finance companies REITs
12,944 11,047 4,204 -703 2,252 6,499
-1,205 -154 -182 -869
1,897 -149 1,898
148
-12,806 -10,043 -4,444 -1,433 1,583
-3,328
-2,421 -44
-1,593 -784
-2,763 -226
-1,994 -543
9,503 7,953 1,439 2,550
979 2,652
333 -9
-184 526
1,550 -344 2,324 -430
-1,859 -2,022 2.933 1,313
-1,458 -5,322
512 7
796 -291
163 -437 1,240 -640
4,258 2,500
-2-117 -300
-1,237 7,443
-1,289 -494
-1,695 900
1,758 -419 2,275 -98
-8-445 -6,558 -1,762 -912 -818
-4,919
1,853 -291 1,546 598
-1,887 -300
-1,371 -216
-9,220 -9,592 3,795 2,476
-2,250 -12,714
-899 78
-488 -489
372 -500 893 -21
156.9 136.0
29.2 22.7 2.4 .8
28.2
27.1 -.3 -.4 1.8
_ 28.2
28.2 28.6 3.2 2.8 -.5 19.4
3.6 3.0 -.9 1.5
-.4 .3
-.4 -.3
44.6 45.2 5.8
-1.4 62.7
55.7 .1
5.7 1.3
_ 62.7
62.7 61.3 -.1 1.0
16.8 50.2
-6.6 -.9
-3.1 -2.6
1.4 .8 .8
-.2
49.7 37.5 11.0 -2.5 40.3
28.4 -.7 10.5 2.1
_ 40.3
40.3 37.8 6.9
-4.4 6.2 32.0
-2.8 -1.4 -1.3 -.1
2.6 K
2.9 -.3
70.1 2 24.8 3 -5.8 4 -.9 5 69.9 6
46.4 7 1.5 8
21.9 9 .2 10
- 11 69.9 12
69.9 13 65.9 14 9.6 15
-4.3 16 11.7 17 49.9 18
-1.0 19 * 20
1.0 21 -2.1 22
4.0 23 .3 24
3.7 25 .1 26
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Consumer Credit and Bank Loans n.e.c. Consumer Credit and Bank Loans n.e.c.
SEASONALLY ADJUSTED ANNUAL RATES
Consumer Credit and Bank Loans Not Elsewhere Classified 51 SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS, $ BILLIONS 1987 1988 1989 1990
I 1989 I 1990 I IV I I II III
Consumer Credit
I 1991 IV I I II
1 2 3
4 5 6 7 8 9 10 11 12 13
14 15 16 17 18 19
33.5 38.0 -4.5
33.5 38.0
. 1 1.9
20.3 5.9
-1.7 4.0 7.5
--4.5
.2
.9 -3.8 -3.1 1.3
50.2 55.0 -4.7
50.2 55.0
^2 .5
37.6 2.0 .5
7.3 6.7
--4.7
.2
.8 -4.5 -.4 -.8
39.1 38.8
.2
39.1 38.8 -.3
-1.8 23.1 -5.5 -.7 2.5 1.3
20.2
.2
.2
.9 -.6 1.4
-1.8
14.3 17.4 -3.1
14.3 17.4
.1 -.3 4.7
-10.3 -1.3 -.2
-2.8 27.6
-3.1 .1 .4
-3.1 -.6
K
44.1 46.0 -1.9
44.1 46.0 -.9 ,4 ,5 .3 .0 .1 .3 .6
-1.9 .3
1.2 -3.0 2.8 -3.3
30.4 31.9 -1.5
28.2
-1.5 -.6
-2.4 1.4
-2.3 2.5
2.8 8.0
-5.2
-5.2 K
.1 -4.4 -2.1 1.1
21.3 27.3 -6.0
21. 27.
7. 23.
-18. 4.
-1. -1. 12.
-6.0
.8 -6.2 -1.3
.5
2.5 2.5
-13 5
-14 -7 1
34
.8 3.2
-3.1 3.4
-4.3
-23.6 -11.6 -11.9
-20.4 Net change in liabilities (HH) 1 -17.1 Installment credit 2 -3.2 Noninstallment credit 3
20.4 Net change in assets -17.1
-.4 -1.
-21. -23.
8.
-2.1 14.5
-15.4
Installment credit Nonfarm noncorp. business Nonfin. corporate business Commercial banking Savings and loan assns. Mutual savings banks Credit unions Finance companies SCO issuers
Noninstallment credit Nonfarm noncorp. business Nonfin. corporate business Commercial banking Savings and loan assns. Mutual savings banks
Bank Loans Not Elsewhere Classified
88.2 105.9 Total loans by commercial
-24.5 banking. Flow of Funds basis
2 3 4 5 6
7 8 9 10
11 12
13 14 15 16 17 18
19 20 21 22
23 24 25 26
86.2 16.5 -5.3 2.3 3.2
-14.6 .5
17.4 -.1
_ 3.2
3.2 6.4
-2.6 —2.2 10.7 4.1
-3.6 -.9
-2.9 .2
-3.2 -1.1 -1.2 -.9
77.8 33.1 -.5 -1.9 39.4
19.2 -.3 20.5 -.1
_ 39.4
39.4 38.0 -1.8
.8 8.1 32.8
-1.8 -.5
--1.3
1.4 .3
-2.1 3.2
94.3 22.5 4.3 -.1 41.5
25.3 1.6
14.0 .6
_ 41.5
41.5 39.8 1.6 1.0 4.2 33.1
-.1 -1.4
.7
.5
1.8 -1.1 4.8
-1.9
77.5 1.6
-2.0 3.3 -.9
-7.5 -.2 6.9 -.1
_ -.9
-.9 -1.6 -2.2 2.1 -.1 1.4
-2.9 -.5 -2.7
.4
.7 -1.4 3.8
-1.7
87.2 29.5 1.1 1.1 7.5
-.6 -5.1 12.9
.4
89.2 -1.8
-10.3 4.0 7.1
19.2 2.0
-14.6 .4
101.1 -10.9
-.7 3.4 13.0
-7.2 -1.2 21.6 _ 2
65.0 16.9 -4.8 -1.3 1.4
-7.1 -5.3 14.2 -.3
54.6 2.3 7.9 6.9
-25.1
-34.8 3.6 6.5 -.4
55.5 -15.9 -6.9 7.2
25.6
2.7 -3.7 27.1 -.5
49.1 -23.4 22.0 -7.7
-64.5
-86.2 -3.6 27.1 -1.7
-4.3 -.6 .2
-3.9
4.2 -.6 4.2 .6
7.1
7.1 9.4 8.4 -.6 6.3
-2.3 -.9 .8
-2.2
-4.3 2.6
-.6 -1.4 2.5
-1.7
1.4
1.4 -.5 7.0 3.4
-5.8 -7.0
1.9
25 24. 20, 1
-3 -4.1
10.3 -1.2 9.3 2.2
1.0 -1.2 3.1 -.9
Loans elsewhere classified: Mortgages Consumer credit Security credit Open-market paper
Banking sector total bank loans n.e.c. U.S. chartered banks Domestic affiliates Foreign banking off. in US Banks in U.S. possessions
- • Loans by F.R. banks -64.5 = Total bank loans n.e.c.
-64.5 Net change in liabilities -58.7 Nonfinancial sectors
9.4 Households 1.2 Farm business
-9.0 Nonfarm noncorp. business -53.1 Corporate business
-7.1 .3
-5.6 -1.9
Foreign Official institi-. Banks Other
-5.8 Financial sectors -2.0 Savings and loan assns. -3.7 Finance companies -.1 REITs
5 6
7 8 9 10
11 12
13 14 15 16 17 18
19 20 21 22
23 24 25 26
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Open-Market Paper and Other Loans
52 Open-Market Paper and Other Loans
UNADJUSTED NET FLOWS, $ MILLIONS
Open-Market Paper and Other Loans
UNADJUSTED NET FLOWS, $ MILLIONS
I 1989 I I IV I I
1990 I II III IV I
1991 I II
Open-Market Paper
ANNUAL FLOWS- $ BILLIONS 1983 1984 1985 1986
1 Total net issues, all types 2 Commercial paper 3 Nonfinancial corporations 4 Foreign issues in U.S.
5 Financial business 6 Commercial banking 7 Finance companies 8 REITs
9 Bankers acceptances (1)
10 Net purchases, by sector 11 Households 12 Nonfin. corporate business 13 Foreign
14 Sponsored credit agencies 15 Monetary authority 16 Commercial banking (1) 17 Savings & loan associations 18 Mutual savings banks
19 Life insurance companies 20 Private pension funds 21 Mutual funds 22 Money market funds 23 Brokers and dealers
9,631 9,975
-6-161 5,524
10-612 -773
11,240 145
-344
9-631 10,530
-284 1,854
1,522 1,024 -491
2,599 -876
-2,223 12,859 3,609
15-164 18,876 18,922 -3,730
3-684 725
3,251 -292
-3,712
15-164 7,186
-2,000 -1,300
—224
-325 -954
-1,830
-2,071 -5,179 5-317 17,258
-714
-409 1,811 2,625 5,770
-6,584 -6,274
-59 -251
-2,220
-409 12-946 2,700 491
-712
947 -1,000
408
5,000 245
-4-507 -14,314 -2,613
18,877 19,230 3-152 6,391
9,687 -7-070 16,832
-75
-353
18-877 -540
2,000 -724
-69
-441 -1-000 -2,372
1,533 -297 1,653
19,468 -334
-2,975 -3-962
-14,959 3,893
7,104 -6-054 13,158
-987
-2,975 -3,079 -1,000
-552
1,519
3-078 1,250 519
-3,803 782
-3,583 -2,349 4,243
-4,189 4-112 2,998
11,673
-10-559 -5,110 -5,663
214
-8,301
-4,189 -10-196 -1-500
-232
-2,451
427 -1,125 2*891
4,342 -6,582 2-061 9-247
-1,071
-24,619 -22,206 -1,426
-12,982
-7,798 -1,700 -6,098
--2,413
-24,619 -8,751 1,000 -376
-108
-1-898 -1,100
-410
-8,750 -1,616 2-003
-4,666 53
26.9 21.7 -.8 6.5
16.0 3.5
12.6 -.1
5.3
26.9 13.1 4.7 .8
.4
-.8 -1.7 3.6
5.3 6.8 1.0
-3.0 -4.8
51.9 48.2 21.7 6.2
20.3 6.1
14.0 .2
3.7
51.9 4.4 3.4 1.2
-.1
--1.4 -1.4
.3
1.9 3.8 2.4
31.8 5.7
52.8 62.2 14.6 6.2
41.4 2.2
39.0 .1
-9.4
52.8 51.1
.5 -.2
-.6
--2.5 -.2 3.0
-2.3 7.8
-2.3 1.2
-2.8
26.4 1 32.2 2 -9.3 3 11.5 4
30.1 5 1.2 6
28.5 7 .3 8
-5.9 9
26.4 10 14.3 11 -4.4 12 1.1 13
•» 14 - 15
-.9 16 1.8 17 3.8 18
4.5 19 -3.2 20 5.3 21 6.2 22
-2.0 23
(1) Excludes banks' holdings of own acceptances.
Other Loans
1 SSL assn. loans to business 2 Liab.: Noncorporate business 3 Nonfin. corp. business
4 Finance co. loans to business 5 Liab.: Noncorporate business 6 Nonfin. corp. business
7 U.S. government loans 8 Liab.: Households 9 Farm business 10 Nonfarm noncorp. bus. 11 Nonfin. corp. business 12 St.Slocal governments 13 Foreign 14 Spons. credit agencies
15 Sponsored credit agency loans 16 Liab.: Households (SLMA) 17 Farm business (FICB) 18 Noncorp. business CBC) 19 SSL assns. (FHLB) 20 Mutual sav. bks.(FHLB)
21 Policy loans (HH liability) 22 Asset: U.S. government 23 Life insurance cos.
Cust. liab. on acceptances 24 outstanding (bank asset) 25 Liab: Nonfin. corp. business 26 Foreign
Foreign loans to US nonbanks 27 Liab.: Nonfin. corp. business
-688 -344 -344
12,295 6,147 6,148
-239 52 23
-148 53
-31 -188
--6,827 1,803 1,720
-1,037 -9,055
-258
955 125 830
693 620 73
-1,134 -567 -567
4,233 2,116 2,117
2,623 694
1,000 327 50
250 302
--7,856 1,172 -20 -63
-7,089 -1,856
3,794 125
3,669
-5,598 -2,944 -2,654
-2,354 -1,177 -1,177
11-919 5,959 5,960
-618 806
-1-400 -727
50 150 503
--5,047 1,210 100 200
-7,935 1,378
2,161 125
2,036
-2,491 -2,007 -484
-1,967 -983 -984
2,522 1,261 1,261
1,534 822
1,200 -833 100 400
-155
--7,325
884 100 100
-7,860 -549
-2,378 125
-2.503
-1,889 -1,133
-756
-2,617 -1,308 -1,309
14-777 7,388 7,389
-6,009 658
-600 -67
-1,000 78
-4,958 -120
187 874 100
--1,297 510
1,046 125 921
144 -538 682
-1,850 -925 -925
1,836 918 918
-1,509 120
-50 -52
-1,731
--10,135
160 100
-300 -9,836
-259
3,375 125
3,250
-7,173 -4,837 -2,336
-1,607 -803 -804
5,711 2,855 2,856
570 300 121
-64 100 -15
--9,875
758 879 750
-11,596 -666
3,789 39
3,750
-1,473 842
-2-315
2.4 1.2 1.2
13.1 6.5 6.5
8.5 .8 K
2.7 -.5 1.1 4.3
--6.1 1.5
-1.3 .9
-6.6 -.4
8.7 4.3 4.3
24.4 12.2 12.2
16.7 .6
1.1 2.0 1.2 7.7 4.0
-16.0 1.9
-1.2 -.4 14.5 1.2
5.6 2.8 2.8
19.7 9.8 9.8
15.9 7.0 .4 .5
-2.6 8.2 1.4 1.1
11.8 2.5
-3.9 -1.0 12.7 1.5
6.7 1 3.3 2 3.3 3
15.9 4 8.0 5 8.0 6
9,0 7 4,4 8 -.2 9 .7 10
1.5 11 1,4 12 1.5 13 -.4 14
19,2 15 2,4 16
-2.5 17 ~,7 18 15.6 19 4.2 20
~.i 21
-'.S 23
6.9 7.0 -.1
3.8 2.8 1.0
-9.5 -2.1 -7.4
-5,6 24 -.2 25
-5,4 26
4,446 3,245 -1,182 -4,170 -4,342
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1991 Open-Market Paper and Other Loans Open-Market Paper and Other Loans
SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS. $ BILLIONS 1987 1988 1989 1990
Open-Market Paper and Other Loans 53 SEASONALLY ADJUSTED ANNUAL RATES
I 1989 I I IV I I
1990 I 1991 II III IV I I II
Open-Market Paper
1 2 3 4
5 6 7 8
32.3 26.8 2.3 2.1
22.4 1.5
20.5 .4
75.4 78.2 11.9 8.7
57.6 - ,2 57.9 -.1
60.6 64.8 20.4 13.3
31.1 4.4
26.7
*
30.7 36.0 9.7 12.3
13.9 -18.7 33.2 -.6
51.6 55.2 -6.9 22.2
39.9 -1.0 40.3
.6
62.3 66.2 69.6
-16.4
13.0 -3.1 17.3 -1.2
-36.6 -20.2 -6.2 23.1
-37.1 -26.7 -9.4 -1.0
95.7 99.2 17.3 27.3
54.5 -23.0 77.8 -.3
1.2 -1.3
-41.7 15.3
25.1 -21.9 47.0
-
-15.2 -134.3 Total net issues* all types 7.1 -116.8 Commercial paper 5.1 -22.6 Nonfinancial corporations 45.5 -52.0 Forei9n issues in U.S.
-43.5 -42.2 -26.7 -8.2 -17.7 -34.0
.9
Financial business Commercial banking Finance companies REITs
-3.8 -16.3 2.5 -22.3 -17.5 Bankers acceptances (1)
10 11 12 13
14 15 16 17 18
19 20 21 22 23
32.3 10.1 5.7 .3
K
-2.3 -1.0 1.3
2.7 3.3 3.2 6.0
-1.5
75.4 46.0 -9.6 -.7
.4
--1.9 .8 .8
5.1 7.3 8.9 17.8
.6
60.6 1.4 4.0 .8
2.9
--.1 -1.1
.8
2.0 -8.7 -1.9 57.5 3.0
30.7 16.5 1.7
-2.1
.5
-3.3 -1.7 -3.3
.7 -4.4 -1.1 20.1
.6
51.6 •58.8 -5.8 1.1
7.2
1.1 -1.1 5.6
18.6 -1.0 6.1
64.0 14.7
62.3 51.6 9.0
-5.2
-.7
4.0 -4.0 -12.5
-13.1 -28.0 13.8 49.7 -2.3
-36.6 22.7 11.2 2.0
-2.6
3.4
* 3.5
24.0 .5
-27.8 -55.7 -17.6
95.7 19.6 -2.8 -2.9
-.4
-1.3 -1.9 -14.4
-.9 6.0 6.8
83.1 4.8
1.2 -27.9 -10.6 -2.2
5.8
6.9 -1.0 10.3
-7.3 3.7 2.7 3.1 17.5
-15.2 -18.9 11.1 -.9
-9.6
7.2 -4.0 6.0
15.9 -33.6
.6 15.8 -4.8
-134.3 -72.1
4.3 -1.5
-.2
-7.7 -.5 .4
-25.0 -6.7 -2.6
-15.5 -7.0
et purchases, by sector 10 Households 11 Nonfin. corporate business 12 Forei9n 13
Sponsored credit agencies 14 Monetary authority 15 Commercial banking (1) 16 Savings a loan associations 17 Mutual savings banks 18
Life insurance companies 19 Private pension funds 20 Mutual funds 21 Money market funds 22 Brokers and dealers 23
(1) Excludes banks' holdings of own acceptances.
Other Loans
1 2 3
4 5 6
7 8 9 10 11 12 13 14
15 16 17 18 19 20
21 22 23
24 25 26
-.2 -.1 -.1
34.1 17.0 17.0
-3.0 3.3 -.4 -.6 .1
-2.4 -2.3 -.8
27.3 3.7
-1.6 .8
16.3 8.1
* .4
-.4
5.4 4.4 1.0
2.6 1.3 1.3
29.0 14.5 14.5
-8.9 3.9
-3.9 .6
-1.0 -3.3 -5.1
-21.9 2.8
-2.3 1.6 17.8 1.9
1.1 .5 .6
-2.3
* -2.4
-2.2 -1.1 -1.1
24.3 12.2 12.2
-2.2 .5 .3
-.1 -.4 _ #2
—2.2
--5.7 3.4 1.9 w
-9.6 -1.4
3.7 .5
3.2
-2.1 3.2
-5.3
-8.1 -4.0 -4.0
33.5 16.7 16.7
-2.5 3.0 .2
-1.3 -.8 .9
-4.3 -.1
-20.0 4.1 .3 .2
-24.2 -.5
4.6 .5
4.1
-9.8 -6.6 -3.2
-37.5 7.2 7.8
-3.7 -49.5
.7
3.8 .5
3.3
1.5 4.6
-3.0
-2.9 -1.5 -1.5
9.2 4.6 4.6
7.9 2.8 3.8 1.3 .3
1.0 -1.2
-16.0 4.7 2.5
-1.3 -13.6 -8.3
15.2 .5
14.7
-11.6 -5.5 -6.1
-10.1 -5.0 -5.1
52.6 26.3 26.3
-7.8 3.2
-7.6 -2.9
.3
.6 -1.5
-28.4 4.8
-2.8 .5
-37.3 6.5
8.6 .5
8.1
-17.3 -12.8 -4.5
-7.2 -3.6 -3.6
44.9 22.4 22.4
8. 3. 5.
-3.
l! 1.
-25 3
1 -26 -4
-10.1 -8.1 -2.0
-12.0 -6.0 -6.0
27.2 13.6 13.6
-18.2 2.6
-1.1 -.3 -3.5
.3 -15.7
-.5
-10.5 3.5 .8 .7
-19.5 4.0
.5 3.7
-.4 -.1 -.3
-6.0 -3.0 -3.0
.1
.1
-8.6 .5
-.3
!3
-9!6
26.4 .6
3.1
13.5 .5
13.0
-17.6 -13.1 -4.5
-7.1 SSL assn. loans to business 1 -3.6 Liab.: Noncorporate business 2 -3.6 Nonfin. corp. business 3
27.3 Finance co. loans to business 4 13.7 Liab.: Noncorporate business 5 13.7 Nonfin. corp. business 6
-3.3 U.S. government loans 1.2 Liab
-1.5
.4
.4 -3.9
7 Households 8 Farm business 9 Nonfarm noncorp. bus. 10 Nonfin. corp. business 11 St.81ocal governments 12 Foreign 13 Spons. credit agencies 14
-47.2 Sponsored credit agency loans 15 3.0 Liab.: Households (SLMA) 16
Farm business (FICB) 17 .3 2.4
-51.5 -1.4
Noncorp. business (BC) 18 S8L assns. CFHLB) 19 Mutual sav. bks.(FHLB) 20
-4.7 -16.7
15.2 Policy loans (HH liability) 21 .2 Asset: U.S. government 22
15.0 Life insurance cos. 23
Cust. liab. on acceptances -13.5 outstanding (bank asset) 24 -1.6 Liab: Nonfin. corp. business 25 -11.9 Foreign 26
Foreign loans to US nonbanks -17.4 Liab.: Nonfin. corp. business 27
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Security Credit, Trade Credit, and Taxes Security Credit, Trade Credit, and Taxes
54 Security Credit, Trade Credit, and Taxes Payable
UNADJUSTED NET FLOWS, $ MILLIONS UNADJUSTED NET FLOWS, $ MILLIONS
I 1989 I I IV I
1 Net change in liabilities 2 Households 3 Forei9n
4 Brokers and dealers 5 From domestic banks 6 From f9n. bkg. off. in US 7 Customer credit balances
8 Net change in assets 9 Households 10 Commercial bankin9
11 Brokers and dealers 12 Forei9n
1990 II III IV I
1991 I II
Security Credit
6,163 •1,264
7,427 -952 -136 8,515
6,163 8,515 -598
-3,892 -47
-3,845 -1,129 -584
-2,132
-3-892 -2,132 -1,197
-2,590 -1,413
-1,177 -1,543
485 -119
-2,590 -119 -516
149 -2,732
2,881 -1,459
59 4,281
149 4.281 -832
9,848 2,787
7,061 -3,585 3,441 7,205
9,848 7,205 556
-4,902 -1,229
-3,673 270
-935 -3,008
-4-902 -3,008
48
15-372 5-589
9,783 1,670 2,580 5,533
15-372 5-533 5,006
-563 -1,955 ,087 -1,942
ANNUAL FLOWS, $ BILLIONS 1983 1984 1985 1986
13.6 9.4
4.1 .9 .5
2.7
13.6 2.7 2.4
8.4
-
4.5 -2.4
6.9 4.7 1.1 1.0
4.5 1.0 5.8
-2.3
-
43.3 19.4
23.9 6.2 4.2 13.5
43.3 13.5 11.0
18.9
-
9.9 8.2
1.7 -7.4
. 1 9.0
9.9 9.0
-5.8
6.7
-
1
3
4 5 6 7
8 9 10
11 12
Trade Credit
1 Net change in liabilities 2 Households 3 Farm business 4 Nonfarm noncorp. business
5 Nonfin. corporate business 6 State and local governments 7 Foreign 8 U.S. government 9 Brokers and dealers
10 Net change in assets 11 Nonfarm noncorp. business 12 Nonfin. corporate business 13 Foreign 14 U.S. government 15 Other insurance companies
16 Discrepancy
25-785 1,532 381 360
18,380 714
-566 1,352 3,632
26 1,200
-2,948 991
-783 25,759
-10,618 1,497 406 304
-10,556 742
-765 -752
-1,494
18,599 1,200 14,804
805 1,500 290
-29,217
13-502 1,783 431 248
4,757 767
1,772 1.981 1.763
12.823 1,200 9,430
198 750
1,245
679
23,472 1,859 456 250
18,383 794
1,978 -508 260
23,965 1,200
19,417 3,098 -750 1,000
-493
23,244 700 250 250
18,538 750
2,637 -858 977
-15,385 1,200
-17,271 1,811
-2,000 875
38,629
-3-023 1-009 304 300
-10,038 785
1,672 1,851 1,094
12,530 1,200 9,658 482 125
1,065
-15,553
6-770 1,500 250 300
1,158 250 -41
2,736 617
7,387 1,200 5-866 -304
-625 -617
44.0 3.4 -.7 .5
37.0 .8
-.9 3.0 1.0
63.5 6.8
52.2 -1.3 3.8 2.0
46.7 5.3
-1.1 5.7
33.7 1.0
-1.6 3.3 .5
63.9 6.5
48.1 1.5 5.1 2.8
48.1 2.5 -.3 5.4
34.0 1.1 -.1 4.7 .8
52.2 4.1 41.7
.5 3.7 2.2
32.3 1 3.0 2 .2 3
4.2 4
13.7 5 1.6 6
-1.2 7 9,8 8 1.1 9
39.1 10 6.4 11
29.5 12 .8 13
-2.3 14 4.9 15
-19.5 -17.2
Taxes Payable
1 Net change in profit taxes pay 2 Nonfin. corporate business 3 Commercial banks 4 Savings 8 loan associations 5 Life insurance companies 6 Other insurance companies 7 Finance companies 8 Brokers and dealers
9 Net change in other taxes pay. (Nonfarm noncorp. business)
10 Net change in profit taxes rec 11 State and local governments 12 U.S. government
13 Net change in other taxes rec. (State and local governments)
14 Discrepancy
1 Total household investment 2 Farm business 3 Nonfarm noncorp. business 4 Brokers and dealers
1,400 1,369 -54 95 25 27 35
-97
400
1,400 1,188
-78 25 33 37 39
400
400 261
-108 96 25 36 39 51
400
2-765 2,683 -106
92 25 38 41 -8
400
-371 -379
1 17
-26 -2 42
-24
400
5 5 ,236 ,326 -50 22
-19 9
44 -96
400
-3,575 -3,594
--52 -27 -24 40 82
400
•2,155 929
3,084
400
3,555
1,655 -737 2,392
400
-255
-10,326 115
-10,441
400
10,726
3,052 -210 3,262
400
-287
-6,161 20
-6,181
400
5,790
-2,924 -152
-2,772
400
8,160
-11,355 -99
-11,256
400
7,780
6.3 6.7 -.1
4.1 4.4
K
.4
.1
.1 X
.1 X
5.3 5.3
X
K
X
X
X
1 2 3 4 5 6 7
.7 3 !2 •1
.312 ,976 ,245 ,091
-31,367 -2,213 -27-205 -1.949
-8.820 -4,805 -5,039 1,024
Proprietors' Equity in Noncorporate Business
-13,488 -15,268 -16,498 -16,009 -5,536 -2-428 -1,600 -9-352 -6-145 -11,761 -16,399 -6,992 -1,807 -1,079 1,501 335
4.0 -1.3 5.3
1.8
2.4
>ess
-79.6 -20.7 -59.8
.9
2.4 1.8 .6
1.1
1.7
-86.5 -1.3
-86.9 1.6
-4.8 -.7 -4.1
3.4
4.9
-89.2 1.9
-93.1 2.0
1.1 10 1.3 11 -.2 12
1.7 13
4.2 14
-47.0 1 5.1 2
-55.0 3 2.9 4
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMEER 12- 1991 Security Credit. Trade Credit, and Taxes Security Credit. Trade Credit, and Taxes
SEASONALLY ADJUSTED ANNUAL RATES
Security Credit. Trade Credit, and Taxes Payable 55 SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS- $ BILLIONS 1987 1988 1989 1990
I 1989 I I IV I
1990 II III
Security Credit
I 1991 IV I I II
1
3
4 5 6 7
8 9
10
11 12
- 2 7 . 4 - 1 5 . 3
- 1 2 . 1 - 4 . 2 - 2 . 1 - 5 . 8
- 2 7 . 4 - 5 . 8 - 5 . 3
- 1 6 . 3
-
3 . 0 3 . 1
- . 1 - 1 . 8
- . 1 1.8
3 . 0 1.8 - . 5
1.7
-
15 .6 .8
14 .8 2 . 4
.1 1 2 . 3
15 .6 12 .3 4 . 3
- 1 . 0
-
3 . 5 - 1 . 4
4 . 9 - 7 . 7
3 . 4 9 .2
3 . 5 9 . 2
- 2 . 0
- 3 . 7
-
15.8 -5.4
1.7 -2.6 22.1
15.8 22.1 1.1
-7.4
2.0 18.4
-16.4 -10.5 -1.9 -4.1
2.0 -4.1
-10.3
-27.2 -19.3
-7. -7. 4.
-5.
-27. -5.
5.3 -17.4
22.7 -6.0 -1.1 29.8
5.3 29.8 -4.8
34.0 12.6
21.4 -7.3 12.5 16.3
-2.7 14.3
-17.0 -5.9 -3.8 -7.3
-2.7 -7.3 -6.9
43.6 Net chan9e in liabilities 1 7.5 Households 2
Foreign 3
36.1 Brokers and dealers 4 6.5 From domestic banks 5 12.5 From fgn. bk9. off. in US 6 17.1 Customer credit balances 7
-21.4 -19.6
43.6 Net change in assets 17.1 Households 22.0 Commercial banking
4.4 Brokers and dealers Foreign
9 10
11 12
Trade Credit
1 2 3 4
5 6 7 8 9
10 11 12 13 14 15
34 .2 3 . 2
.6 3 . 6
19 .9 2 . 0 2 . 9 2 . 3 - . 1
78 .4 4 . 8
6 1 . 5 .2
8 . 3 3 . 6
6 6 . 9 4 . 1 1.0 2 . 7
4 3 . 1 2 . 2 7 .4 2 . 0 4 . 3
7 6 . 2 4 . 8
6 1 . 5 2 . 9
.2 6 . 8
5 2 . 2 5 . 0 1.4 1.8
2 7 . 8 2 . 7 3 . 4 3 . 9 6 . 3
3 8 . 7 4 . 8
2 6 . 8 1.3 3 . 0 2 . 8
4 9 . 6 5 . 8 1.5 1.1
31 .1 3 . 1 5 . 6 - . 1 1.5
4 0 . 0 4 . 8
2 6 . 4 5 . 9 - . 5 3 . 4
62.6 6.1 1.5 1.4
21.4 2.9 .2
14.5 14.5
65.2 4.8
53.3 4.0
3.1
10.8 6.0 1.6 1.2
15.6 3.0
-7.2 -3.4 -6.0
57.9 7.1 1.7 1.0
27.3 3.1 11.5 -.8 7.1
45.8 4.8 32.3
.8 3.0 5.0
12.1
77.2 7.4 1.8 1.0
60.9 3.2 4.7
-2.9 1.0
58.0 4.8 39.8 12.4 -3.0 4.0
19.2
52.5 2.8 1.0 1.0
20.7 3.0 13.5 6.5 3.9
9.0 4.8 1.5 7.2
-8.0 3.5
43.5
42.0 4.0' 1.2 1.2
19.1 3.1 1.8 7.1 4.4
21.1 4.8 9.6 1.9
30.6 Net change in liabilities 6.0 Households 1.0 Farm business 1.2 Nonfarm noncorp. business
12.3 Nonfin. corporate business 5 1.0 State and local governments 6 5.0 Foreign 7 1.6 U.S. government 8 2.5 Brokers and dealers 9
23.7 Net change in assets 10 4.8 Nonfarm noncorp. business 11 17.6 Nonfin. corporate business 12 -1.2 Foreign 13
U.S. government 14 2.5 Other insurance companies 15
6.9 Discrepancy 16
Taxes Payable
10 11 12
5.6 5.9 .1
.1 -.6
1.6 .9 .2 .1 .1 .1 .1 .1
.6 -.2
.1
.1
.1
.1
4.2 3.8 -.2 .3 H
.1
.2
.1
4 4 8
6
0
- 4 . 3 .8
- 5 . 1
1.6
5 . 9
- 9 . 6 .8
- 1 0 . 4
1.6
10 .2
- 1 1 . 8 - . 8
- 1 1 . 0
1.6
16 .0
8 . 5 8 . 4 - . 2
. 3
.1
.1
.1 - . 4
1.6
- 8 . 1 3 . 5
•11.6
1.6
16 .6
- 9 . 7 - 1 0 . 5
-. 3 .1 .1 .1 . 2
1.6
- 5 . 3 - 2 . 7 - 2 . 6
1.6
- 4 . 4
17 .9 17 .3 - . 4
.4
.1
.1
.2
. 2
1.6
- 2 1 . 4 .6
- 2 2 . 0
1.6
3 9 . 2
6 .7 6 .4 - . 4
.4
.1
. 2
.2
* 1.6
3 . 3 - 1 . 0
4 . 3
1.6
3 . 5
1.9 1.9
M
-- . 1
-. 2 - . 1
1.6
- 2 3 . 7 - . 2
- 2 3 . 5
1.6
2 5 . 6
4 . 5 4 . 8 - . 2
.1 - . 1
X
#2 - . 4
1.6
- 2 4 . 4 - . 3
- 2 4 . 1
1.6
2 8 . 9
2.1 Net change in profit taxes pay 1 2.0 Nonfin. corporate business 2
Commercial banks 3 -.2 Savings & loan associations 4 -.1 Life insurance companies 5 -.1 Other insurance companies 6 .2 Finance companies 7 .3 Brokers and dealers 8
1.6 Net change in other taxes pay. 9 (Nonfarm noncorp. business)
-25.0 Net change in profit taxes rec 10 -.2 State and local governments 11
-24.8 U.S. government 12
1.6 Net change in other taxes rec. 13 (State and local governments)
27.1 Discrepancy 14
Proprietors' Equity in Noncorporate Business
1 2 3 4
- 9 1 . 1 - 1 . 8
- 8 6 . 0 - 3 . 2
- 7 6 . 5 - 8 . 2
- 7 3 . 4 5 . 1
- 8 5 . 5 - 1 3 . 4 - 7 6 . 0
4 . 0
- 6 8 . 9 - 1 5 . 0 - 5 0 . 2
- 3 . 8
-99.8 -102.9 -34.9 -24.6 -17.2 -3.2 -70.9 -77.9 -35.8 -4.4 -7.8 4.1
•86 .3 -22 .2 -56 .8 - 7 . 2
- 5 1 . 7 - 1 7 . 3 - 3 0 . 1
- 4 . 3
- 4 1 . 0 - 1 5 . 3 - 3 1 . 7
6 .0
-62.6 Total household investment 1 -21.3 Farm business 2 -42.7 Nonfarm noncorp. business 3
1.3 Brokers and dealers 4
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Miscellaneous I
56 Miscellaneous Financial Claims
UNADJUSTED NET FLOWS, $ MILLIONS
Miscellaneous I
UNADJUSTED NET FLOWS, $ MILLIONS
I 1989 I 1990 I 1991 I IV I I II III IV I I II
ANNUAL FLOWS, $ BILLIONS 1983 1984 1985 1986
1 Net change in liabilities 2 Households 3 Nonfarm noncorp. business 4 Nonfin. corporate business
20,557 87,951 -45,414 114 169 157
2 , 0 0 0 2 , 0 0 0 2 , 0 0 0 20-437 16,883 9,277
56,303 167
2,000 8,380
-14-233 49,275 200 199
2-000 2-000 4,530 3-376
Foreign U.S. government
5,331 -1,287
4,043 488
8,462 -14-259
18-319 - 3 - 6 2 4 •11,945 - 2 4 , 1 6 5
5-427 17,189
7 Total finance -6,038 64-368 -51,051 39,382 6,826 21-084 8 Sponsored credit agencies 1-517 -2-992 1,016 -2-829 9,385 1,125 9 Monetary authority 3-465 -3-771 546 -1-750 718 -2-614 10 Commercial banking -18,703 28,697 -62-850 32-835 11,686 19,411
11 Savings 8 loan assns. -2,882 26,556 -2,020 741 -7,038 -1,189 12 Mutual savings banks -1,600 777 -2-899 738 -1-277 -485 13 Credit unions -300 300 400 800 300 600 14 Life insurance companies 649 1,419 1-015 851 -1-370 71 15 Other insurance companies 7,601 8-055 8-545 8,105 7,810 7,701 16 Finance companies -3,305 366 5,416 730 -12-974 -4,928 17 REITs -215 201 239 104 -16 -41 18 Brokers and dealers 7,735 4,760 -459 -943 -398 1,433
19 Net change in assets 51-453 52,246 -23-794 12,738 26-927 46-652 20 Households 2-438 2-581 3,425 3-325 3,160 3,162 21 Farm business 1,018 801 823 845 850 830 22 Nonfarm noncorp. business 1,773 1,668 1,612 1-591 1-775 1,715 23 Nonfin. corporate business 30-579 -966 19,133 -3,567 15,525 10,002
24 Foreign 23,283 10,293 15-850 9,599 -369 8-360 25 U.S. government 220 398 291 484 160 339
26 Total finance -7,858 37,471 -64,928 461 5,826 22,244 27 Sponsored credit agencies -195 -2-557 420 -1,946 409 -1-139 28 Monetary authority 2,697 -1,292 471 1,586 -1,964 -3,304 29 Commercial banking -16,004 14,825 -68-405 24-403 9-991 22,601
30 Savings and loan assns. 1,085 21,627 -5,889 -2,379 4,217 536 31 Mutual savings banks -284 471 -810 781 -369 423 32 Credit unions 338 799 2,125 626 -200 812 33 Life insurance companies 1,659 1-044 824 1,599 1-950 3,655 34 Private pension funds 2,717 4,241 4,810 -15-903 -6,664 -10-808 35 REITs -19 -5 -18 -1-075 627 -116 36 Money market funds -564 1,466 4,489 -9-517 -2,856 1,489 37 Brokers and dealers 712 -3,148 -2,945 2,286 685 8,095
38 Unallocated, net
(A) Foreign claims
-30,896 35,705 -21,620 43,565 -41,160 ,623
13,819 200
2,000 3,095
9,690 -11,755
10.589 6,094 1,393
-30,808
1,084 2,668 800
-450 6,798 2-476
6 20,528
6,367 3,154 481
1,763 21,791
-4,480 571
-16,913 2,807
-2,267 -40,679
278 -1,653
626 1,900 4,926
65 3,174 13,910
7,452
Foreign direct investment by U.S. corps. 39 Liab.: Foreign (1) 1,574 40 Equity 8 intercompany accts. 2,852 41 Retained earnings -1,278
Direct investment in U.S. by fgn. corps. 42 Liab.: Nonfin. corp. bus.(l) 20,437 43 Equity 8 intercompany accts. 22,144 44 Retained earnings -1,707
U.S. govt, equity in IBRD, etc. 45 Liab.: Foreign 341
Nonofficial foreign currency 46 Asset: U.S. government -121
Liab.: Foreign
(B) Claims on federally related agencies
Postal Savings deposits 47 Asset: Households -
Liab.: U.S. government
Deposits at Federal Home Loan Banks 48 Liab.: Sponsored credit ags. 2,564 -
Asset: S8L associations
49 Federal Reserve Bank stock 44 Asset: Commercial banks
9,025 2,413 6,612
16,883 19-350 -2-467
324
74
2,880 -2,950 5-830
9,277 10,258 -981
304
-13
18,374 12,041 6,333
8,380 9,820
-1,440
461
23
-2-666 -5-034 2,368
4,530 11-794 -7,264
212
-52
13,999 6,067 7,932
3,376 8,294
-4,918
283
56
3,824 -2,317 6,141
3,095 7,601
-4,506
420
151
519
70
-443
31
2,730
55
4,002
24
475
78
-107
45
50 Equity in sponsored credit ag. 51 U.S. government
Private: 52 Farm business (FICB 8 FLB) 53 Nonfarm noncorporate (BO 54 Nonfin. corp. bus. (FNMA) 55 SSL associations (FHLB)
-169 -1,238
189 80 5
•443
-50 -25
9 -1,172
-50 -25
3 -441
-50 -25
9 -406
--25
4 -262
-50 -25 498
-249
50 13
130 -277
129.0 .6
12.7 11.5
3.2 2.0
99.1 -.2
K
32.5
15.8 3.6 .7
9.2 12.0 10.9 -.1 14.6
106.3 15.3 1.1
-3.7 30.2
10.7 .7
52.0 .7 .5
15.2
11.3 1.4 .4
6.1 13.6
--.4 3.1
170.6 -1.0 19.2 25.6
9.4 4.9
112.5 10.2
.7 36.5
13.4 1.5 1.8 14.8 15.4 15.7
.1 2.2
142.5 2.0 .1
13.5 28.1
19.1 1.5
78.2 2.1 3.0
25.7
30.0 .4 .8
4.8 6.4 1.2 1.5 2.3
165.7 .1
7.5 20.5
.8
.6
136.3 8.9
2 36^8
15.8 2.9 1.3
14.4 38.6 8.0 .1
9.2
145.4 30.4 2.5 6.4 7.6
21.9 1.4
75.2 -3.5 1.0
41.6
15.8 1.5 1.7 7.0 3.1
-1.6 .6
8.2
172.3 1 -1.3 2 3.1 3 36.1 4
9.8 5 3.2 6
121.4 7 8.3 8 -.1 9 31.5 10
8.6 11 2.1 12 1.7 13 5.4 14
41.9 15 15.2 16 -.3 17 7.0 18
176.0 19 16.4 20 3.0 21 10.8 22 56.7 23
29.0 24 .5 25
59.7 26 1.4 27 1.6 28
35.3 29
7.7 30 .7 31
2.9 32 8.0 33
-6.3 34 .4 35
2.9 36 5.1 37
9.8 -3.6 13.5
11.5 11.9 -.3
.7
.1
13.4 -3.9 17.3
25.6 22.5 3.1
1.1
.4
9.7 -4.0 13.7
20.5 20.4
.1
1.5
-.1
12.4 39 3.3 40 9.0 41
36.1 42 35.4 43
.7 44
1.5 45
-1.0 46
9
1
2
1 K
K
1
7.0
.2
.9
.1 M
K
.8
4.5
^2
.9
-.3 M
.1 1.1
3.6 48
.1 49
.6 50 - 51
-.6 52 -.1 53 .1 54
1.2 55
(1) Excludes capital gains/losses.
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Miscellaneous I
SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS, $ BILLIONS 1987 1988 1989 1990
Miscellaneous Financial Claims
I 1989 I I IV I I
1990 II III
Miscellaneous I
57 SEASONALLY ADJUSTED ANNUAL RATES
I 1991 IV | I II
1 2 3 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 33 34 35 36 37
182.4 1.2 8.0
47.3
21.9 -9.4
113.4 -2.1 1.1
44.5
8.0 .6
2.4 1.0
37.7 15.7 1.0 3.5
177.0 21.8 2.2
10.0 26.2
48.6 1.3
66.8 4.3 2.1
49.0
14.0 .2
-1.0 7.9
-10.4 1.0 1.4
-1.8
184.8 .4
8.0 57.6
17.7 9.6
91.5 1.1 .1
49.3
11.4 1.4 2.0 4.1
31.4 -11.6
_ #2
2 ^
176.8 17.0 2.9 8.5
61.4
59.2 2.1
25.7 2.3 .4
23.8
-2.6 2.5 1.1 8.5
-15.5 2.2 .5
2.4
278.0 .4
8.0 69.7
39.6 1.8
158.5 6.5 4.3
104.4
4.8 -2.2 1.0 3.7
32.0 12.8 -.1
-8.8
325.1 11.6 2.5 7.1
64.7
110.3 1.0
127.8 3.5 8.2
100.5
5.3 .5 .2
7.3 -9.8
.1 5.2 6.9
84.6 .7
8.0 39.1
27.2 -49.9
59.5 4.6
-4.3 10.4
18.2 -2.7 1.8 1.9
32.5 -6.5
.5 3.0
68.1 12.5 3.3 6.6
30.1
35.4 1.3
-21.2 -3.7 -1.2
-19.2
17.6 .1
3.4 5.4
-13.5 -.5
-6.4 -3.1
87.5 .5
8.0 64.4
-42.8 16.1
41.4 7.0 2.3
-19.2
2.2 -9.4
.4 2.6
30.4 -8.7 -.9 34.6
76.7 9.8 4.1 7.1
51.4
45.4
-41, -3, 13,
-81,
13, -7, 4, 6
19,
4 -12,
344.7 .7
8.0 72.8
119.8 .6
142.8 -13.5 -11.8 66.5
89.8 7.8 1.5 5.7
32.2 3.9 .8
-40.1
229.7 10.3 3.2 6.7
49.4
109.2 1.6
49.4 -29.0
1.1 41.1
72.2 11.2 -4.2 4.2
13.6 K
6.1 -66.9
-201.9 .6
8.0 44.7
46.2 -71.3
-230.1 13.7 24.1
-273.4
-.1 -11.0
3.6 4.1
34.2 25.3 1.0
-51.4
-119.2 13.7 3.3 6.4
36.1
86.4 1.2
-266.3 27.3 2.4
-266.0
-15.2 -4.8 9.7 3.3 3.0 -.1 18.5
-44.4
242.7 .7
8.0 40.0
35.2 -53.3
212.2 -19.5 -19.3 134.9
-1.1 3.4
32.4 -8.0
.4 ,0 91
178.2 13.3 3.4 6.4
40.9
1.0 1.9
111.3 -10.5 -3.9 120.3
-11.0 1.5 5.7 6.4
-50.1 -4.3
-45.7 102.9
-47.1 .8
8.0 -1.2
-92.3 -75.5
113.1 37.6
-10.0 113.5
-13.6 -8.4 3.2
-5.5 31.2
-47.1 -.1 12.3
-16.3 12.6 3.4 7.1
-5.9
-55.1 .6
20.9 -2.5 -4,5 27.8
24.4 -7.6 2.2 7.8
-20.6 2.5
-4.5 -4.1
186.5 .8
8.0 19.2
37.6 Net change in liabilities .8 Households
8.0 Nonfarm noncorp. business 20.6 Nonfin. corporate business
138 69
-49 2
-6 23
-13. 11. - 4 . 14.
-46.
45.0 -63.0
Foreign U.S. government
-20.0 3.6 2.6 .3
30.8 -18.4
-68.2
196.4 12.6 3.3 6.9
93.3
107.9 1.4
-28.9 -25.6 -5.8 65.8
26.2 Total finance 35.1 Sponsored credit agencies
30.1 Monetary authority -136.0 Commercial banking
12.3 Savings 8 loan assns. 10.8 Mutual savings banks 5.2 Credit unions
-1.8 Life insurance companies 27.2 Other insurance companies 14.8 Finance companies
« REITs 28.4 Brokers and dealers
12.9 Net change in assets 12.6 Households 1.9 Farm business 7.1 Nonfarm noncorp. business
43.3 Nonfin. corporate business
4.0 2.3
Foreign U.S. government
.4
.9
.7
.6
.9 -.5 5.4
-29.8
-58.3 Total finance 40.4 Sponsored credit agencies -9.1 Monetary authority
-140.0 Commercial banking
10.4 Savings and loan assns. -8.8 Mutual savings banks 3.8 Credit unions 7.6 Life insurance co.mpanies 1.4 Private pension funds .3 REITs
16.8 Money market funds 18.9 Brokers and dealers
3 4
5 6
7 8 9
10
11 12 13 14 15 16 17 18
19 20 21
24 25
26 27 28 29
30 31 32 33 34 35 36 37
10.8 115.0 -82.8 64.5 -30.7 -10.0 24.7 Unallocated, net
39 40 41
42 43 44
26.0 8.3 17.7
47.3 45.4 1.9
13.3 .9
12.4
57.6 51.9 5.7
23.7 3.2
20.5
69.7 72.3 -2.7
27.6 6.5
21.1
39.1 51.2
-12.2
7.5 8.7
-1.2
64.4 66.8 -2.4
34.9 9.9
25.0
72.8 84.4
-11.6
14.1 -9.5 23.5
44.7 50.0 -5.3
71.0 47.9 23.1
40.0 46.8 -6.8
-9.6 -22.5 12.9
-1.2 23.7
-24.9
(A) Foreign claims
Foreign direct investment by U.S. corps. 54.8 18.2 Liab.: Foreign (1) 39 24.3 -7.0 Equity 8 intercompany accts. 40 30.5 25.2 Retained earnings 41
Direct investment in U.S. by fgn. corps. 19.2 20.6 Liab.: Nonfin. corp. bus.(l) 42
40.0 Equity 8 intercompany accts. 43 40.2 -21.1 -19.3 Retained earnings
45 1.2 2.4 1.2
46 .1 -.3 -.2
-1.3
.1
50 51
52 53 54 55
1.7
--.5
* .4
1.8
2.0
-.1
-M
1.9
-.4
--.7 .1 K
.2
-2.5
--.2 -.1
K
-2.3
1.4
-.5
1.2
-.1
.5
.2
.9
.8
.3 M
.0
-6.8
.3
-5.3
-!l
* -5.1
5.7
.1
-1.5
-.2 -.1
« -1.2
12.4
.2
-1.8
-.2 -.1
M
-1.5
7.8
.1
-1.4
-.1 M
-1.3
.8
.3
.4
-ll 2.0
-1.3
U.S. govt, equity in IBRD, etc. 1.1 1.7 Liab.: Foreign
Nonofficial foreign currency .2 .6 Asset: U.S. government
Liab.: Foreign
(B) Claims on federally related agencies
Postal Savings deposits - Asset: Households 47
Liab.: U.S. government
Deposits at Federal Home Loan Banks 7.4 Liab.: Sponsored credit ags. 48
Asset: S8L associations
.2 Federal Reserve Bank stock 49 Asset: Commercial banks
.3 Equity in sponsored credit ag. 50 - U.S. government 51
Private: .2 Farm business (FICB 8 FLB) 52 .1 Nonfarm noncorporate ( B O 53 .5 Nonfin. corp. bus. (FNMA) 54
-.5 S8L associations (FHLB) 55
(1) Excludes capital gains/losses.
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12. 1991 Miscellaneous II
58 UNADJUSTED NET FLOWS, $ MILLIONS
Miscellaneous Financial Claims- Continued
Miscellaneous II
UNADJUSTED NET FLOWS, $ MILLIONS
(C) Life insurance claims
Deferred and unpaid premiums 1 Liab.: Households Asset: Life insurance
I 1989 I I IV I I
1990 II III
I 1991 IV I I II
ANNUAL FLOWS- $ BILLIONS 1983 1984 1985 1986
Life company reserves 2 Liab.: Life insurance cos. 3 Accident and health 4 Policy dividend accum.
Asset: Households
436 234 202
659 350 309
491 284 207
344 261 83
500 400 100
309 341 -32
737 354 383
3.2 1.8 1.4
2.7 1.6 1.1
3.5 2.3 1.2
3.0 2.5 .5
(D) Nonlife insurance claims
5 Liab.: Other insurance cos. 6 Asset: Households 7 Farm business 8 Nonfarm noncorp. bus. 9 Nonfin. corp. business
7,601 2,002 829 770
4,000
8,055 1-922 851 782
4,500
8,545 2-934 873 738
4,000
8,105 2,981 895 729
3,500
7,810 2,660 850 800
3,500
7-701 2-853 880 768
3,200
6-798 2-417 431 750
3,200
12.0 12.1 1.0
-4.6 3.5
15.4 -.8
* 11.0 5.1
38.6 27.0 2.8 3.8 5.1
41.9 13.3 3.6 4.8
20.2
5 6 7 8 9
(E) Intercorporate claims
Corporate parent investment in: 10 Commercial bank subsidiaries 11 Finance company subsidiaries
Asset: Domestic bank affiliates
387 6,245 986 3,288 -5,532 -2,584
575 -2-413 35 -12,709
3-642 -2,743 -5,507 -4,638
15.5 4.1
18.9 9.5
15.6 13.6
16.7 10 12.9 11
(F) Unallocated assets S liabilities
12 Net total (lieb. less assets) -30,896 35,705 -21,620 43,565 -41,160 2,623
13 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
Net change in liabilities Foreign Nonfarm noncorp. business U.S. government U.S. 90vt.-without levels Sponsored credit agencies Monetary authority
Commercial banking U.S. commercial banks Domestic affiliates Foreign banking offices Banks in U.S. poss.
Savings and loan assns. Mutual savings banks Credit unions Life insurance companies Finance companies REITs Brokers and dealers
Net change in assets Foreign Nonfarm noncorp. business Nonfin. corporate business Sponsored credit agencies Monetary authority
Commercial banking U.S. commercial banks Domestic affiliates Foreign banking offices Banks in U.S. possession
Savings and loan assns. Mutual savings banks . Credit unions Life insurance companies Private pension funds
REITs Money market funds Brokers and dealers
-15,939 3,537 2,000
-4,924 3,637 -878 3,421
-19-090 3,736 1,192
-24,534 516
-2.882 -1,600
-300 213
-6,593 -215 7,735
14,957 2,846
923 25,000 -195 2,697
-19,723 1,374 1,301
-22,574 176
-1-036 -284 338
1,545 2,717
-19 -564 712
54,736 -5-380 2,000
322 166
-235 -3,841
22,452 -948
94 22,806
500
26,556 777 300 760
5,898 201
4,760
19-031 -6,590
911 -14,500 -2-557 -1,292
14,042 -1-409
113 15,099
239
24,318 471 799 875
4,241
-5 1,466
-3,148
-64,532 5-291 2-000
-17,802 3-543 1,972 515
-63,836 2,448
53 -66,858
521
-2,020 -2,899
400 524
8-000 239
-459
-42,912 6,573 899
12,250 420 471
-66,838 -565 222
-66,887 392
-5,005 -810 2,125
667 4,810
-18 4,489
-2,945
17,526 -539 2,000
-4,289 -7,656 -5,087 -1,805
32,260 9,633 7,582 14,557
488
741 738 800 507 695 104
-943
-26,039 1,219 887
-25,450 -1.946 1.586
23,738 5.533 10,578 7,171 456
-4,703 781 626
1.432 -15,903
-1.075 -9-517 2.286
-13,388 -1,118 2,000
-11.107 -13,058
5,666 694
14-099 -9,158 -6,602 29,357
502
-7,038 -1,277
300 -1-870 -265 -16
-398
27-772 -4,899 1,000 14,687
409 -1,964
25,089 314
2,193 22,168
414
477 -369 -200 1-750
-6,664
627 -2,856
685
24,490 -8,911 2,000 3-652 13,537
476 -2,692
15,769 14,346 -863 1,803 483
-1,189 -485 600
-238 579 -41
1,433
21-867 4,984
972 -7-695 -1,139 -3,304
24,388 1
1,713 22,201
473
310 423 812
3,456 -10,808
-116 1,489 8,095
6,121 5,295 2,000
-6,254 -5-501 6,285 1,348
-28-065 -3,380 -4-475
-20,694 484
1,084 2,668 800
-1,187 7,114
6 20,528
-1,331 -7,575 1,000 14-637 2,807
-2,267
-33,343 460
2,796 -37,295
696
662 -1,653
626 1,700 4,926
65 3,174 13,910
74.2 -7.4 12.7
-2.0 2.4 -.1
17.1 1.4
11.2 1.0 3.5
15.8 3.6 .7
6.1 6.9 -.1 14.6
51.5 -.8 .9
16.9 .7 .5
-4.4 -4.4
.4 —2 .2 L 7
14.0 1.4 .4
5.5 13.6
--.4 3.1
76.6 -5.5 19.2
-4.9 2.3 .5
17.7 13.1 5.3
X
-.8
13.4 1.5 1.8
12.1 6.2 .1
2.2
48.5 -6.4 2.4 9.6 2.1 3.0
-2.9 -.6 1.4 -.9
-2.7
22.2 .4 .8
5.8 6.4
1.2 1.5 2.3
57.1 -10.3
7.5
-.6 3.5 .1
21.1 10.3 6.1 2.4 2.4
15.8 2.9 1.3
11.0 -5.6
.1 9.2
36.9 1.4 2.6
-7.3 -3.5 1.0
12.2 13.2 -.1 -.1 -.8
10.1 1.5 1.7 6.9 3.1
-1.6 .6
8.2
45.6 13 -3.1 14 3.1 15 - 16 3.2 17 4.1 18 -.2 19
14.8 20 2.4 21 8.8 22 4.8 23
-1.2 24
8.6 25 2.1 26 1.7 27 2.4 28 2.2 29 -.3 30 7.0 31
49.4 32 -7.1 33 6.0 34
24.0 35 1.4 36 1.6 37
5.5 38 1.8 39 1.8 40 3.9 41
-2.0 42
2.9 43 .7 44
2.9 45 9.3 46
-6.3 47
.4 48 2.9 49 5.1 50
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12- 1991 Miscellaneous II
SEASONALLY ADJUSTED ANNUAL RATES
Miscellaneous II
Miscellaneous Financial Claims. Continued 59 SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS- $ BILLIONS 1987 1988 1989 1990
I 1989 I I IV I
1990 I 1991 II III IV | I II
(C) Life insurance claims
Deferred and unpaid premiums .8 Liab.: Households
Asset: Life insurance
2 3 4
3.7 2.7 1.0
4.1 2.9 1.2
2.9 1.4 1.6
2.0 1.3 .7
5 6 7 8 9
37.7 18.1 2.6 6.0
10.9
31.4 13.0 2.8 4.6
11.0
32.0 8.7 3.2 3.3
16.8
32.5 10.5 3.5 3.0
15.5
10 11
21.3 -2.5
8.6 10.1
5.4 20.8
.7
.9
.8
2.6 1.4 1.2
2.0 1.1 .8
1.4 1.0 .3
2.0 1.6 .4
1.2 1.4 -.1
30.4 8.0 3.3 3.1
16.0
32.2 7.7 3.4 3.1
18.0
34.2 11.7 3.5 3.0
16.0
32.4 11.9 3.6 2.9
14.0
31.2 10.6 3.4 3.2
14.0
30.8 11.4 3.5 3.1
12.8
30.4 16.8
-.7 -1.5
-.7 -2.9
-7.5 -62.0
19.3 -16.5
Life company reserves 2.9 Liab.: Life insurance cos. 1.4 Accident and health 1.5 Policy dividend accum.
Asset: Households
(D) Nonlife insurance claims
27.2 Liab.: Other insurance cos. 5 9.7 Asset: Households 6 1.7 Farm business 7 3.0 Nonfarm noncorp. bus. 8
12.8 Nonfin. corp. business 9
(E) Intercorporate claims
Corporate parent investment in: -16.7 Commercial bank subsidiaries 10 -9.2 Finance company subsidiaries 11
Asset: Domestic bank affiliates
-30.7 -10.0
13 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
41.4 -5.4 8.0 1.2
-10.5 2.9 1.0
24.8 -6.2 6.4
25.8 -1.3
8.0 .6
2.4 -2.7 6.9 1.0 3.5
36.0 1.4 4.0
-11.0 4.3 2.1
20.3 1.0 1.3
18.5 -.5
18.8 ^2
- i ! o 6.7
-10.4
1.0 1.4
-1.8
56.5 2.2 8.0 4.7 5.0 .5 if
28.1 4.4 8.1 14.0 1.6
11.4 1.4 2.0 .1
-9.2 -.2 2.6
48.5 1.6 4.0
37.0 2.3 .4
4.9 .8
-.7 3.6 1.2
-3.1 2.5 1.1 8.1
-15.5
2.2 .5
2.4
123.0 14.9 8.0
-12.4 14.2
K
4.2
95.8 10.8 4.9
78.0 2.1
4.8 -2.2 1.0 .8
2.7 -.1
-8.8
170.1 40.6 3.8
24 .2 3.5 8.2
81.7 11.9 2.2
67.1 .5
-1.7 .5 .2
6.9 -9.8
.1 5.2 6.9
-5.7 -1.7 8.0
-32.9 -17.0
2.3 -4.4
5.0 2.0 1.1 -.1 2.0
18.2 -2.7 1.8 -.1 14.3
.5 3.0
-22.1 -3.7 3.7
-13.0 -3.7 -1.2
-4.0 3.9
13.1 -22.4
1.5
15.1 .1
3.4 4.7
-13.5
-.5 -6.4 -3.1
-25.4 -51.2
8.0 -19.7 35.8 5.3 2.1
-21.5 54.6 16.7
-94.9 2.1
2 .2 -9!3
.4
.9 -12.1
-.9 34.6
-36.2 -19.0
3.7 27.9 -3.2 13.5
-87.1 .3
20.0 -108.1
.7
12.8 -7.0 4.6 6.2 19.1
-.1 4.8
-12.4
198.1 83.3 8.0 1.3 -.7 -1.3
-12.1
36.1 -67.9 -4.1 106.0 2.0
89.8 7.8 1.5 3.0
20.7 .8
-40.1
83.2 36.4 3.6
-3.5 -29.0
1.1
27.2 -43.6 -10.9 80.8 1.0
84.1 11.2 -4.2 3.5 13.6
K
6.1 -66.9
-300.8 30.9 8.0
-71.2 -.1 9.5
24.0
-272.8 22.8 2.7
-300.3 2.1
-.1 -11.0
3.6 2.1
26.8 1.0
-51.4
-218.0 41.7 3.6 6.0
27.3 2.4
-263.9 27.6 -2.1
-291.0 1.6
-19.7 -4.8 9.7 2.7 3.0
-.1 18.5
-44.4
88.1 -37.8 8.0
-17.2 -36.1 -30.1 -19.5
135.6 44.0 17.8 71.9 2.0
-3.1 1.0
-1.1 2.0
-5.0 .4
91.0
23.6 -38.9
3.5 -44.2 -10.5 -3.9
123.7 28.8 40.2 52.8 1.8
-21.9 1.5 5.7 5.7
-50.1
-4.3 -45.7 102.9
-8.1 -83.4 8.0
-44.4 -31.0 31.2
-10.1
121.0 9.0
-11.9 121.9 2.0
-13.6 -8.4 3.2
-7.5 14.9 -.1 12.3
22.7 -54.0
4.0 -10.4 -2.5 -4.5
97.2 2.7
25.2 67.6 1.7
17.9 -7.6 2.2 7.0
-20.6
2.5 -4.5 -4.1
74.0 82.0 8.0 14.6 55.3 1.3
-6.3
4.1 -13.3 -9.7 25.1 1.9
-20.0 3.6 2.6
-1.0 -1.8 -.2
-68.2
84.0 88.7 3.9
23.7 -25.6 -5.8
62.7 -47.4 -5.5 113.7
1.9
-12.9 11.9 -4.7 13.8
-46.9
-.5 5.4
-29.8
-16.4 24.6 8.0
-25.0 -38.0 27.4 29.9
-119.3 2.1
-1.9 -121.4
1.9
12.3 10.8 5.2
-4.7 24.0
K
28.4
-41.1 -16.6
4.0 11.8 40.4 -9.1
-114.2 38.0 22.4
-177.4 2.8
3.5 -8.8 3.8 6.8 1.4
.3 16.8 18.9
(F) Unallocated assets 8 liabilities
24.7 Net total (liab. less assets) 12
Net change in liabilities 13 Foreign 14 Nonfarm noncorp. business 15 U.S. government 16 U.S. govt.-without levels 17 Sponsored credit agencies 18 Monetary authority 19
Commercial banking 20 U.S. commercial banks 21 Domestic affiliates 22 Foreign banking offices 23 Banks in U.S. poss. 24
Savings and loan assns. 25 Mutual savings banks 26 Credit unions 27 Life insurance companies 28 Finance companies 29 REITs 30 Brokers and dealers 31
Net change in assets 32 Foreign 33 Nonfarm noncorp. business 34 Nonfin. corporate business 35 Sponsored credit agencies 36 Monetary authority 37
Commercial banking 38 U.S. commercial banks 39 Domestic affiliates 40 Foreign banking offices 41 Banks in U.S. possession 42
Savings and loan assns. 43 Mutual savings banks 44 Credit unions 45 Life insurance companies 46 Private pension funds 47
REITs Money market funds Brokers and dealers
48 49 50
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Total Claims
60 Total Claims
Total Financial Assets and Liabilities
UNADJUSTED NET FLOWS, $ MILLIONS
Total net borrowing 1 in credit markets
1989 IV
UNADJUSTED NET FLOWS, $ MILLIONS
ANNUAL FLOWS, 1983 1984
$ BILLIONS 1985 1986
Total Net Borrowing and Lending in Credit Markets (1)
263,146 188,928 211,314 209,772 254,879 82,923 134,852 911.4 1050.6 1131.7
5 6 7 8 9
10 11 12 13 14 15 16 17 18 19 20
Domestic nonfinan. sectors 200-157 155-335 153-508 160.047 170,455 U.S. government 63-300 Private domestic 136-857
Households 90-356 Farm business 65 -617 1,346 Nonfarm noncorp. bus. 12,870 12,396 434 Corporate business 29,372 15,527 36,049 StateSlocal governments 4-194 1,888 3,176
64,487 40,848 90,848 112,660 61.654 7L655
68.448 91,599 63,790 2.940
312 14-401 10,156
98-741 71,714 56-917 -1,101
526 13-394 1,978
58,184 119.821 55-807 42,961
Foreign borr. in U.S. 4,474 244 11,297 6,465 5.485 Financial sectors 58-515 33,349 46-509 43.260 78-939
Sponsored credit agencies 2-898 1,525 2,904 3-436 9-164 Mortgage pools 42,843 35,616 39,033 34,335 41,338 Commercial banks 385 -4,176 -1-623 -888 5,594 Bank affiliates (BHCs) -1-500 -503 -7.623 -11,428 -8.132 Savings and loan assns. -10-579 -8,097 -11,430 -9-442 -2,196 Mutual Savings Banks -258 -1,856 1,378 -549 510 Finance companies 15-153 3,781 10-765 21,372 21.133 REITs 14 -959 -674 -449 138 SCO issuers 9.559 8.018 13-779 6,873 11,390
2,377 7.085
-1.148 -3-702 -997 1,139
12,327 12-412 3,278
30-526 -8,219 -3,079 -11,216
-259 -5,667 -169 7,217
76,860 57,910 3-702
-1,223 13-826 2,645
-12,130 27,161 -7,421 40,258 -2-191 -1,424 -11,972
-666 1,295 -52
9,334
538.1 186.6 351.5 185.6 3.9
81.9 56.5 23.6
17.3 100.3
1.4 66.4 5.0 13.3 -6.2 -.4 17.5 -.3 3.6
752.3 198.8 553.5 231.8 -.4
123.2 170.8 28.1
8.4 150.7 30.4 44.4 7.3 16.1 17.2 1.2
24.3 .5
9.3
848.1 223.6 624.5 284.5 -14.5 129.3 134.3 90.9
1.2 201.3 21.7 79.9 -4.9 16.6 17.3 1.5
57.7 -.1 11.5
836.9 215.0 621.9 293.0 -16.3 99.2
209.7 36.2
9.7 285.1 14.9
139.2 -3.6 15.2 20.9 4.2
54.7 .8
39.0
2 3 4 5 6 7 8 9
10 11 12 13 14 15 16 17 18 19 20
Total net lending 21 in credit markets 263,146 188,928 211,314 209,772 254,879 82,923 134,852 655.7 911.4 1050.6 1131.7 21
22 Private dom. nonfin. sectors 45,654 50-965 23 Households 43,553 45,016 24 Nonfarm noncorp. business 73 -737 25 Corporate business 2-948 -804 26 State & local governments -920 7,490
27 Foreign 12,132 28 U.S. government -19 10
-398 .108
59,745 57,445 -270 4,820
-2,250
15,510 10,250
42,562 32,190 -310 1,283 9,399
55,342 -11,881 50,407 -22,355
408 -969 6,021 2,985
-1,494 8,458
709 299
20,408 -2.052
6,841 8,275
41,463 38,831 -387 3,610 -591
15,216 9,279
29 Financial sectors 30 Sponsored credit agencies 31 Mortgage pools 32 Monetary authority
33 Commercial banking 34 U.S. commercial banks 35 Bank affiliates 36 Foreign banking offices 37 Banks in U.S. poss.
38 Private nonbank finance 39 Savings institutions 40 Savings 8 loan assns. 41 Mutual savings banks 42 Credit unions
205,379 128,253 125,809 134,202 181,181 1-885 2 ,504 1,102 11-170 1,627
42-843 35,616 39,033 34,335 41,338 5,695 -8,878 13,406 2,921 682
79,688 68,894 825 -4,071
30-526 40-258 5,875 6,390
56,963 42,931
501 13-186
345
22-792 41,833 22,355 35,521 1,338 -2,455
-1,145 8,662 244 105
29,695 25.911 -1,475 5.279 -20
24,379 8-554
225 15,635
-35
97-993 76.21* 30-435 56,081 113,155 -49,584 -19,387 -51,847 -38,331 -43,847 -46-405 -18,319 -44-036 -40,305 -42,688 -3-357 -2-300 -10,168 -1,617 -2-455
178 1,232 2,357 3,591 1,296
10,137 6,311 -931 4,822 -65
32-325 -44-139 -41,350 -2-980
191
13-923 6,757 -58
7,621 -397
12,394 -36,207 -37,585 -4,299 5,677
43 44 45 46 47
48 49 50 51 52 53 54
(1)
1
2 3
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
Insurance sector Life insurance cos. Private pension funds St.Sloe.govt.rtr.funds Other insurance cos.
Finance n.e.c. Finance companies REITs Mutual funds Money market funds Brokers and dealers SCO issuers
Excludes corporate equities.
Net flows through credit marke preceding table)
Other financial sources: Official foreign exchange Treasury curr. and SDR ctfs.
Deposits at financial insts. Checkable deposits Small time 8 savings dep. Money market fund shares Large time deposits Security RPs Foreign deposits
Life insurance reserves Pension fund reserves
Interbank claims Corporate equities Security credit Trade debt Taxes payable Noncorp. proprietors' equity Miscellaneous
Total financial sources - Floats not incl. in assets
Check, dep.: U.S. govt. Other
Trade credit - Liabilities not allocated
as assets Treasury currency Interbank claims Security RPs Profit taxes payable Miscellaneous
Totals allocated to sectors as assets
50-025 26,801 3,742 12,000 7,482
97,552 11,481
166 7,804 19-220 49-322 9,559
ts (from 263,146
2-998 137
85,188 39,180 32-344 13-008 -6-405 4,582 2,479
6,716 53,325
11,519 516
6,163 25,785 1,800
-27-312 20-557
450,538
200 7,983
25,759
-78 -4-190
59 3-555
-30,896
448-146
45,673 31,467 -2,965 9,600 7,571
49,933 9,725
46 14,293 42,648
-24-797 8,018
188-928
2,930 150
-3-375 -37,453 32,659 35-489
-16-933 -12-162 -4,975
9,168 35,428
2,448 3,130
-3,892 -10,618
1-800 -31,367 87,951
282,681
2,106 -6,041
-29,217
-74 5,946 3,297 -255
35,705
271,214
54,994 33,317 3-042 11,800 6,835
27,288 17,409 -568 5,845
-12-266 3,089 13,779
45.270 23,389 3,911 11,000 6,970
49,142 7,461 391
8,104 30,044 -3,731 6,873
36,510 15,283 5,929 9,000 6,298
120-492 18.869 -529 9,962
20,426 60,374 11,390
Total Liabilities and Th
211,314
-587 161
16,055 33,679 1,211
-10-470 -16 -168
1,208 6,595
9,469 58,948
1,831 13-079 -2,590 13,502
800 -8,820
-45,414
267,748
-97 1,863 679
-47 -34
-1,118 10,726
-21,620
277,396
209,772
-1,376 99
3,105 2.837 8-591 31,254
-16,318 -26,317
3,058
8-090 31,859
22,583 -8,850
149 23,472 3,165
-13,488 56.303
334-883
1,787 -4,181 -493
-81 -418
-18-177 -287
43,565
313,168
254,879
999 1,626
78,830 45,163 17,213 14.008
-17,109 16,499 3,056
6,590 38,812
6,778 2,246 9,848
23,244 29
-15,268 -14,233
394,380
-458 10,817 38,629
-35 -4,683 -3,932 5-790
-41,160
389,412
44,008 26,983 -4,494 13.750 7,769
32,456 -12,126
-353 15,608 38.693
-16-583 7,217
27,508 5-964 2,118 13-591 5,835
21,093 8,341
117 21,047
-21,438 3,692 9,334
ieir Relation to Ti
82,923
384 119
26-486 -27,575 32,032 53-355 3,970
-30-594 -4,702
9-450 11,116
-8,088 32,625 -4.902 -3,023 5,636
-16-498 49-275
185-503
-7,802 -2-257
-15-553
-49 14,418
-22-793 8,160 2,623
208,756
134,852
1,204 112
-17-748 27,781 2,168
-18,892 -19,793 -12,458
3,446
4,517 46,658
-26,276 44,468 15,372 6,770
-3,175 -16-009 13,819
204,564
4,931 3-269 -617
-69 5,376
-2,961 7,780 7,452
179,403
145.6 103.3 7.8 16.7 17.9
23.7 9.7
476.8 3.4
66.4 14.7
143.3 136.5
1.5 3.7 1.6
249.0 134.2 103.3 18.8 12.1
100.1 52.5 29.9 16.0 1.7
14.7 26.8
.1 9.8
-17.7 -7.7 3.6
163.2 125.0 9.9 9.5 18.9
57.9 17.1
673.2 29.8 44.4 8.4
174.0 158.7
.9 12.9 1.5
416.6 154.7 129.3 10.1 15.3
121.8 54.1 21.3 34.7 11.7
140.1 38.3
.8 17.9 45.0 28.8 9.3
270.5 178.6 5.3 -.6
87.3
62.3 17.8
699.9 23.7 79.9 18.4
188.4 165.6 3.7 16.4 2.7
389.6 87.9 64.8 9.7 13.4
150.1 74.4 26.6 22 .9 26.1
151.6 49.5 2.4 68.7 13.9 5.6 11.5
121.5 22 68.2 23 4.2 24 13.2 25 35.9 26
97.8 27 9.7 28
902.7 29 14.1 30
139.2 31 19.4 32
198.1 33 162.5 34 -.3 35 35.0 36
.9 37
531.9 38 107.6 39 75.2 40 17.4 41 15.0 42
160.1 43 86.9 44 -.8 45 31.3 46 42.6 47
264.2 48 54.8 49
* 50 123.1 51 34.1 52 13.2 53 39.0 54
655.7
1.1 .5
217.7 40.4
216.6 -40.4 -13.0 12.9 1.3
8.0 151.2
-3.0 54.6 13.6 44.0 8.2
-79.6 129.0
200.8
1.6 2.6
-19.5
-.2 -10.9 -13.9
2.4 22.7
1216.0
911.4
2 .2 .6
370.9 47.4 150.8 54.2 87.3 37.1 -5.8
5.2 152.5
13.4 -40.5
4.5 46.7 5.1
-86.5 170.6
1555.9
.5 -1.9
-17.2
-.1 5.5 .8
1.7 28.1
1538.5
1050.6
3.0 .5
277.8 83.5 141.2 10.2 17.9 29.0 -3.9
10.7 176.0
27.6 17.2 43.3 48.1 3.5
-89.2 165.7
1734.7
1.3 .8
-4.1
_>2 5.3
-8.4 4.9 20.2
1715.0
1131.7 1
-.6 2 .8 3
362.1 4 127.0 5 124.1 6 48.3 7 5.0 8
48.7 9 9.1 10
17.5 11 152.2 12
28.3 13 86.8 14 9.9 15
32.3 16 7.0 17
-47.0 18 172.3 19
1953.3 20
-.6 21 -8.9 22 -6.8 23
« 24 -2.8 25 4.9 26 4.2 27
-3.7 28
1967.1 29
LATEST QUARTER BASED ON INCOMPLETE INFORMATION. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, Total Claims Total Claims
SEASONALLY ADJUSTED ANNUAL RATES
Total Financial Assets and Liabilities 61 SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS, 1987 1988
$ BILLIONS 1989 1990
1989 IV II III
Total Net Borrowing and Lending in Credit Markets (1)
991.7 1014.7 894.5 864.9 824.4 995.7 808.5 867.3 Total net borrowing
505.1 in credit markets
2 3 4 5 6 7 8 9
10 11 12 13 14 15 16 17 18 19 20
687.0 144.9 542.1 302.2 -10.6 77.9 123.7 48.8
4.5 300.2 29.5 142.3 6.2 14.3 19.6 8.1 40.8
.3 39.1
760.8 157.5 603.3 314.9 -7.5 65.7 184.6 45.6
6.3 247.6 44.9 74.9 -3.0 5.2 19.9 1.9
67.7 3.5
32.5
678.2 151.6 526.6 285.0
1.6 50.8 159.5 29.6
10.9 205.5 25.2 125.8 -1.4 6.2
-14.1 -1.4 46.3 -1.9 20.8
639.3 272.5 366.8 254.0
2.6 13.7 79.4 17.2
23.5 202.1 17.0 150.3 -1.1 -27.7 -31.2 -.5 57.1 -1.9 40.1
620.2 185.0 435.2 291.8 8.9 35.0 83.1 16.5
16.9 187.3 -4.7 161.1 -.7 -3.9
-56.2 .7
52.6 .1
38.2
803.4 247.3 556.1 377.2
6.2 45.5 111.2 16.0
2.0 190.2 9.7
162.0 -5.7 -8.0
-15.8 -8.3 28.2 -3.8 32.1
596.9 228.2 368.7 257.5 -10.8
3.5 101.3 17.2
41.2 170.4 17.1
166.8 -13.9 -32.1 -53.5
6.5 27.0 -2.7 55.1
657.7 286.1 371.6 227.3 11.7 19.6 84.8 28.1
29.7 180.0 22.3 116.9 -5.6 -40.4 -31.9 -4.2 97.3 -1.8 27.5
499.3 328.4 170.9 154.0 3.1
-14.0 20.2 7.6
21.1 267.7 19.0
155.5 20.9
-30.2 -23.4
4.0 75.7
.6 45.6
411.4 204.7 206.7 162.6 4.7
-18.7 46.0 12.2
50.6 102.6 14.5 141.3 -22.0 -18.5 -29.5 -2.2 -9.2 -.7 28.9
462.6 241.8 220.9 199.7 -1.6 -3.6 9.5 16.8
-53.0 95.4
-22.4 173.0 -16.6 -7.1
-55.6 -1.4 -11.7
-.2 37.3
Domestic nonfinan. sectors U.S. government Private domestic Households Farm business Nonfarm noncorp. bus. Corporate business StateSlocal governments
Foreign borr. in U.S. Financial sectors Sponsored credit agencies Mortgage pools Commercial banks Bank affiliates (BHCs) Savings and loan assns. Mutual Savings Banks Finance companies REITs SCO issuers
3 4 5 6 7 8 9
10 11 12 13 14 15 16 17 18 19 20
991 .7 1014.7 8 9 4 . 5 8 6 4 . 9 824.4 995.7 808.5 867.3 788.1 564.7 Total net lending
505.1 in credit markets
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
214.6 182.0 -.7 14.6 18.7
62.7 -7.9
722.4 27.0 142.3 24.7
135.4 99.2 2.0 34.2
.1
393.0 136.8 93.3 25.6 17.8
179.7 91.7 22.2 26.3 39.5
76.6 39.4 1.0
25.8 1.8
-30.6 39.1
241.7 250.8 -.7
-12.5 4.2
97.6 -9.4
684.8 37.1 74.9 10.5
156.3 126.4 -.1 29.4
.6
406.0 120.4 86.3 17.8 16.3
198.7 103.8 31.4 34.6 28.9
86.9 39.2
.9 11.9 10.7 -8.2 32.5
195.9 196.0 -1.2 2.2
-1.1
72.1 -2.4
629.0 -.5
125.8 -7.3
177.3 146.0 2.8 26.7 1.8
333.8 -90.9 -93.8 -4.8 7.7
177.9 90.7 7.2
49.1 30.8
246.8 39.2 -.3 23.8 67.1 96.3 20.8
208.6 185.1 -.9 11.3 13.1
53.2 33.6
569.4 16.4
150.3 8.1
118.7 92.3 -2.4 28.4
.3
275.9 -153.4 -145.3 -16.5 8.5
182.4 103.5 9.9
41.4 27.7
246.9 53.5 -.7 38.2 80.9 34.9 40.1
58.7 82.3 -1.6 -22.1
.1
44.2 5.7
715.8 -2.7 161.1 -4.6
184.3 146.3 2.0 34.5 1.4
377.6 -201.9 -198.6 -8.2 4.9
205.1 103.0 33.1 40.6 28.4
374.5 19.4
.7 43.1 82.7 190.3 38.2
329.0 275.6 -1.4 25.0 29.8
3.0 37.7
626.0 25.4 162.0 -6.3
184.1 157.9 5.4 19.8 1.0
260.7 -56.6 -56.7 -12.3 12.4
160.0 125.8 -32.8 36.9 30.1
157.3 55.7
#2 42.0 117.1 -89.7 32.1
242.8 235.0 -1.1 21.2
-12.4
59.8 36.2
469.8 -3.8 166.8 40.4
132.1 112.3 -9.8 29.2
.4
134.3 -210.4 -179.0 -36.7
5.3
231.6 132.9 18.4 49.2 31.1
113.1 52.3 -2.3 13.5 -9.1 3.5
55.1
175.0 127.7 -.8 10.7 37.5
72.3 63.3
556.7 48.7 116.9 24.4
101.7 86.3 -5.9 21.5 -.1
265.0 -168.6 -162.3 -13.1
6.8
187.5 97.5 13.1 51.2 25.8
246.1 56.1 1.6
44.0 127.7 -10.8 27.5
87.7 101.9 -.4
-11.6 -2.3
77.9 -2.7
625.2 -4.8 155.5 -25.9
56.9 12.9
.9 43.2 -.1
443.5 -178.0 -183.4
-4.1 9.5
150.6 57.6 41.0 28.3 23.7
470.9 49.6 -2.1 53.3 87.8 236.7 45.6
104.2 31.5 -2.3 40.8 34.2
32.4 30.3
397.7 17.5
141.3 53.3
134.2 93.3 -3.7 44.9 -.3
51.6 -154.8 -147.9 -15.3
8.4
125.4 81.7
-40.0 52.9 30.9
80.9 -32.1 -1.4 46.1 99.0
-59.5 28.9
162.4 154.9 -1.5 15.4 -6.4
57.7 32.1
252.8 -24.0 173.0 12.2
15.7 -7.0 _ 2 24.5 -1.6
75.9 -147.6 -153.2 -12.9 18.6
134.9 35.1 15.7 56.9 27.2
88.6 14.9
.5 74.0
-43.6 5.5 37.3
Private dom. nonfin. sectors Households Nonfarm noncorp. business Corporate business State 8 local governments
Foreign U.S. government
Financial sectors Sponsored credit agencies Mortgage pools Monetary authority
Commercial banking U.S. commercial banks Bank affiliates Foreign banking offices Banks in U.S. poss.
Private nonbank finance Savings institutions
Savings 8 loan assns. Mutual savings banks Credit unions
Insurance sector Life insurance cos. Private pension funds St.81oc.govt.rtr.funds Other insurance cos.
Finance n.e.c. Finance companies REITs Mutual funds Money market funds Brokers and dealers SCO issuers
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
(1) Excludes corporate equities.
Total Liabilities and Their Relation to Total Financial Assets
991.7 1014.7 894.5 864.9
2 3
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
-9.7 .5
142.1 4.1 76.3 24.0 50.6 -9.9 -3.1
26.0 137.8
34.0 10.9
-27.4 34.2 7.2
-91.1 182.4
1438.7
X
.4 -44.2
-.1 -4.8
-21.3 7.0 5.4
4.0 .5
261.3 43.2 120.8 21.9 53.6 24.9 -3.1
25.3 181.0
2.2 -124.2
3.0 66.9 3.2
-76.5 184.8
1546.2
1.6 .8
-9.3
-.1 -3.7
-28.1 5.9 8.0
24.8 4.1
291.8 6.1 96.2 90.1 18.2 80.1 1.1
26.2 148.5
-17.2 -63.7 15.6 52.2 2.2
-85.5 278.0
1571.5
8.4 -3.2 13.6
_>2 -5.1 18.9 10.2
-47.1
2.0 2.0
94.6 44.2 59.7 70.3
-66.5 -20.8
7.7
33.3 165.0
33.6 9.6 3.5
49.6 5.8
-68.9 84.6
1279.7
3.3 2.5 9.6
«. #2
.8 -19.9 16.0 16.5
824.4 995.7 808.5 867.3
29 1496.3 1571.1 1576.1 1251.2
12.0 .5
207.1 59.5 107.9 68.6
-37.8 7.3 1.4
26.9 241.1
2.8 14.9 15.8 62.6 10.1
-99.8 87.6
1405.9
1.9 -5.3 -2.6
-.3 3.2
-9.1 16.6 10.8
L390.7
11.7 .6
118.7 43.4 109.3 80.4 -58.7 -42.6 -13.1
36.7 153.4
55.5 -9.2 2.0 10.8 -8.1
-102.9 344.7
1609.6
12.4 1.6
-36.3
-.3 9.3 18.4 -4.4 115.0
1494.0
-2.3 .6
42.3 -27.4 21.4 4.3
-28.8 48.6 24.2
37.9 220.4
19.3 48.0
-27.2 57.9 19.5
-34.9 -201.9
988.1
-15.5 -4.9 12.1
-.2 t2
39.4 39.2
-82.8
1000.4
-5.5 .4
34.4 79.1 59.6 123.4 -96.6
-148.5 17.4
32.4 105.9
82.0 -24.1
5.3 77.2 8.3
-86.3 242.7
1340.1
10.3 7.9 19.2
-.3 -8.7
-116.1 3.5
64.5
1359.9
4.0 6.5
183.0 81.8 48.4 73.0
-82.0 59.4 2.5
26.4 180.4
-22.3 23.6 34.0 52.5 3.5
-51.7 -47.1
1181.0
6.2 5.1
43.5
-.1 2.5
-21.4 25.6
-30.7
1150.4
1.5 .5
240.8 84.1 108.1 148.7 23.6
-112.3 -11.4
37.8 55.2
18.8 108.0 -2.7 42.0 6.1
-41.0 186.5
1218.0
-32.9 17.6 20.9
-.2 41.2
-82.7 28.9
-10.0
1235.2
4.8 .4
-93.7 -57.5 25.6
-24.8 -41.4 -7.4 11.7
18.1 168.9
-96.8 173.9 43.6 30.6 3.7
-62.6 37.6
733.5
5.6
-6.9
-.3 22.1 33.5 27.1 24.7
613.8
Net flows through credit markets (from 564.7 505.1 preceding table)
Other financial sources: Official foreign exchange Treasury curr. and SDR ctfs.
Deposits at financial insts. Checkable deposits Small time 8 savings dep. Money market fund shares Large time deposits Security RPs Foreign deposits
Life insurance reserves Pension fund reserves
2 3
4 5 6 7 8 9 *0
11 12
Interbank claims 13 Corporate equities 14 Security credit 15 Trade debt 16 Taxes payable 17 Noncorp. proprietors' equity 18 Miscellaneous 19
733.5 Total financial sources 20 - Floats not incl. in assets
Check, dep.: U.S. govt. 21 Other 22
Trade credit 23 - Liabilities not allocated
as assets Treasury currency 24 Interbank claims 25 Security RPs 26 Profit taxes payable 27 Miscellaneous 28
Totals allocated to sectors as assets 29
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12* 1991 Savin9 by Individuals
62 UNADJUSTED NET FLOWS. $ MILLIONS
Amount and Composition of Individuals' Savins (1)
Savins by Individuals
UNADJUSTED NET FLOWS, $ MILLIONS
I 1989 I I IV I I
1990 I 1991 II III IV I I II
ANNUAL FLOWS, $ BILLIONS 1983 1984 1985 1986
1 Increase in financial assets 2 Checkable deposits and curr. 3 Time and savinss deposits 4 Money market fund shares
5 Securities 6 U.S. savinss bonds 7 Other U.S. Treasury secur. 8 U.S. sovt. agency secur. 9 Tax-exempt oblisations
10 Corporate 8 forei9n bonds 11 Open-market paper 12 Mutual fund shares 13 Other corporate equities
14 Private life insurance res. 15 Private insured pension res. 16 Private noninsured pen. res. 17 Govt, insurance 8 pen. res. 18 Miscellaneous finan. assets
19 Gross lnv. in tangible assets 20 Owner-occupied homes 21 Other fixed assets (2) 22 Consumer durables 23 Inventories (2)
172,545 130.272 130.327 109,780 132,859 36,961 -11.459 14,357 -2,780 21,081 21,141 22,755 -5,618 1,588 -1,910 11,655 31,930 -9,863 27,118 10,083
19 ,893 2 , 0 1 9 7 ,177
30,810 5,684
- 5 3 5 - 1 0 , 5 3 0
13 ,939 -28,671
6,629 20,788 7,836
24,788 22,854
37,025 2,156 23,857 4,236
-6,656
10,244 7,186 15-859 -19,857
9,080 27,292 -2,321 10,545 5 ,425
48,283 1,985 8,635
16 ,904 4 , 9 4 1
4,978 12,946 16,476
-18,582
9,380 26,793 10,680 21,564 14,751
27,216 2,043
26-418 9 ,240 1 ,955
-14-490 - 5 4 0
5 , 0 9 7 - 2 , 5 0 7
8,000 20,985 -22,972 33-936 16,689
42,644 2,304 15,803 20,071 -3,498
16,766 -3,079 12,837
-18,560
6,500 13,164 3,807
21.931 15.559
92,474 -2,041 25,307 47,315
-4,859 3,493
-3-042 -7,759 -9,291
2,685 -10,196 23-805 -4,554
9,359 19,675 -19,095 10-627
6 ,186
97 ,342 14-440
•16,507 -20,642
5 3 , 3 5 3 3 ,472 8 ,051 13,736 4,064
14,815 -8,751 29,184 -11,218
4,500 8,427 14,005 24,243 15,523
210,286 186,852 199,638 200,950 200.053 165,014 179,879 62,181 58,518 52,011 57,351 53,780 49,864 41,972 17,714 14,774 24,892 25,119 18.707 12,045 23,104
127,941 112,442 122.450 117.847 127,586 102,830 116,373 2,450 1,118 285 633 -20 275 -1,570
24 Capital consumption allowances 141,127 140,764 142,101 143.763 142.712 144.345 145.145 25 Owner-occupied homes 19.268 19,454 19,640 19-826 20,439 20,572 20,889 26 Other fixed assets (2) 35,090 33,477 33,564 33,976 33.980 34,074 34,221 27 Consumer durables 86,769 87,833 88,897 89,961 88,293 89,699 90,035
28 Net lnv. in tangible assets 29 Owner-occupied homes 30 Other fixed assets (2) 31 Consumer durables 32 Inventories (2)
33 Net increase in liabilities 34 Mts. debt on nonfarm homes 35 Other mortsase debt (2) 36 Consumer credit 37 Security credit 38 Policy loans 39 Other liabilities (2)
40 Individuals' savins (1*28-33) 41 - Govt, insurance 8 pen. res. 42 - Net investment in cons. dur.
- Capital sains dividends 43 from mutual funds 44 - Net saving by farm corps. 45 * Personal savins, FOF basis
46 Personal savins, NIPA basis
47 Difference
69,159 42,913 •17,376 41,172 2,450
106,814 58,485 9,263 19,567 -1-264
955 19,808
134,890 24,788 41,172
4,000 508
64,422
56,037
8,385
46.088 39.064
-18,703 24-609 1,118
78,162 64,979 16,785
-12.390 -47
3.794 5.041
98,198 10,545 24.609
2,500 540
60,004
49,647
10,357
57,537 32,371 -8,672 33,553
285
77,041 57,984 -5,403 7,101
-1,413 2.161 16.611
110.823 21.564 33.553
700 572
54.434
14.268
40.166
57,187 37,525 -8,857 27,886
633
69,442 49,298 4,384 9,271
-2,732 -2,378 11,599
97,525 33,936 27,886
1,700 605
33,398
64,615
-31,217
57,341 33,341
-15,273 39,293
-20
62,929 41,624 -1,417 10,272 2,787 1,046 8,617
127,271 21,931 39,293
3,200 459
62.388
51.570
10.818
20.669 29.292
-22.029 13.131
275
5.218 25,142 3,592
-26,632 -1,229 3,375 970
107,925 10,627 13,131
2,700 514
80,953
44,375
36,578
34,734 21,083
-11,117 26,338 -1,570
70,628 47,148 -3,779 1,861 5,589 3,789 16,020
61,448 24,243 26,338
1,500 375
8,992
3,015
5,977
494.0 32.9
201.8 -31.1
102.4 3.1
68.8 .8
28.1
-8.6 13.1 24.0
-27.0
7.8 38.8 59.1 53.5 28.9
509.1 133.2 94.4
289.1 -7.6
381.9 57.0 98.4
226.4
127.2 76.2 -4.0 62.7 -7.6
299.1 120.4 71.9 48.9 9.4 1.1
47.4
322.2 53.5 62.7
4.4 .6
201.0
130.6
70.4
554.4 21.4 229.6 44.0
65.1 3.0
63.6 32.4 24.4
-5.0 4.4
24.0 -81.8
5.0 46.7 42.1 63.9 36.6
608.0 155.4 100.9 335.6 16.1
399.3 60.0 102.6 236.7
208.7 95.4 -1.6 98.8 16.1
381.3 136.7 87.4 81.7 -2.4
.4 77.5
381.8 63.9 98.8
6.0 .7
212.3
164.1
48.3
566.0 32.5 133.0 8.7
138.1 5.3
53.4 24.1 38.1
3.8 51.1 69.2
-106.9
10.4 63.4 40.7 72.3 67.0
640.5 161.4 101.9 372.2 5.0
424.8 64.4 105.9 254.6
215.7 97.1 -4.0 117.6 5.0
437.5 157.0 103.1 82.5 19.4 -. l 75.6
344.2 72.3 117.6
4.9 .9
148.5
125.4
23.1
557.3 1 97.4 2 114.8 3 39.6 4
47.7 5 13.6 6 4.2 7
-29.6 8 -22.7 9
52.9 10 14.3 11
139.6 12 -124.5 13
17.2 14 82.5 15 -8.7 16 78.7 17 88.2 18
699.5 19 181.7 20 108.5 21 406.0 22
3.4 23
456.3 24 67.1 25 108.7 26 280.6 27
243.2 28 114.6 29 -.2 30
125.4 31 3.4 32
395.0 33 216.8 34 71.0 35 58.0 36 8.2 37 -.1 38 41.2 39
405.5 40 78.7 41 125.4 42
17.5 43 .6 44
183.4 45
124.9 46
58.5 47
(1) Combined statement for households, *arm business, and nonfarm noncorporate business.
(2) Includes corporate farms.
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12. 1991 Savins by Individuals
SEASONALLY ADJUSTED ANNUAL RATES
Savin9 by Individuals
Amount and Composition of Individuals' Saving (1) 63 SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS, $ BILLIONS 1987 1988 1989 1990
I 1989 I I IV I I
1990 I 1991 II I I I IV I I II
1 2 3 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
33 34 35 36 37 38 39
40 41 42
43 44 45
46
47
4 8 4 . 5 7 . 3
108 .4 2 8 . 1
131 .0 7 .8
2 0 . 5 4 4 . 7 5 8 . 8
2 3 . 3 10 .1 7 5 . 5
- 1 0 9 . 5
2 5 . 7 6 9 . 9 - 5 . 6 7 3 . 9 4 5 . 9
724 .8 2 0 4 . 0 100.1 4 2 3 . 4
- 2 . 6
4 9 0 . 6 7 0 . 0
115 .3 305 .4
2 3 4 . 2 134 .0 - 1 5 . 1 118 .0 - 2 . 6
3 7 2 . 4 2 3 4 . 0
7 5 . 0 3 3 . 5
- 1 5 . 3 •
4 5 . 3
3 4 6 . 4 7 3 . 9
118 .0
2 2 . 4 .9
131 .2
9 2 . 5
3 8 . 7
5 7 8 . 9 9 .7
1 6 7 . 3 2 3 . 5
105 .0 8 . 5
4 5 . 1 8 2 . 6 5 0 . 3
- 9 . 4 4 6 . 0 - 2 . 7
- 1 1 5 . 4
2 4 . 9 8 8 . 8
7 .7 8 4 . 9 6 7 . 1
775 .7 2 2 4 . 3
8 9 . 6 4 5 7 . 5
4 . 3
5 1 7 . 3 7 3 . 0
120 .7 3 2 3 . 7
2 5 8 . 4 151 .4 - 3 1 . 0 133 .8
4 . 3
3 9 3 . 9 2 3 0 . 9
6 4 . 4 5 0 . 2
3 . 1 1.1
4 4 . 1
4 4 3 . 4 8 4 . 9
133 .8
6 . 3 1.4
2 1 7 . 0
145 .6
7 1 . 4
5 4 6 . 3 2 4 . 6
116 .6 8 1 . 2
8 7 . 7 8 . 2
4 0 . 9 97 .1 2 7 . 4
.7 1.4
3 8 . 0 - 1 2 6 . 0
2 5 . 9 8 2 . 2
- 2 6 . 7 9 3 . 3 6 1 . 4
8 0 5 . 0 2 3 7 . 8
79 .7 4 7 4 . 6
12 .9
5 5 0 . 1 7 6 . 0
133 .5 340 .7
2 5 4 . 9 161 .9 - 5 3 . 8 133 .9
12 .9
356 .4 2 1 9 . 8
4 9 . 3 3 9 . 1
.8 3 . 7
4 3 . 6
4 4 4 . 8 9 3 . 3
133 .9
15 .0 1.8
2 0 0 . 8
171 .9
2 8 . 9
5 0 3 . 2 2 1 . 2 16 .8 5 9 . 3
155 .2 8 . 5
74 .7 5 0 . 5 - 3 . 3
17 .5 16 .5 5 0 . 3
- 5 9 . 5
3 3 . 0 8 8 . 2
- 1 0 . 8 8 8 . 0 5 2 . 4
787 .5 2 2 1 . 7
8 3 . 5 4 8 0 . 3
2 . 0
5 6 9 . 3 7 9 . 4
135 .0 3 5 5 . 0
2 1 8 . 2 142 .3 - 5 1 . 5 125 .3
2 . 0
2 8 7 . 6 2 1 3 . 9
14 .3 1 4 . 3 - 1 . 4
4 . 6 4 1 . 9
4 3 3 . 8 8 8 . 0
125 .3
8 . 1 2 . 2
2 1 0 . 2
180.1
3 0 . 1
5 6 6 . 6 9 3 . 6 8 4 . 6 6 3 . 2
- 1 0 . 0 7 .5
- 6 . 0 88.9 10 .6
14 .6 - 5 8 . 8
66.7 - 1 3 3 . 5
2 6 . 5 9 0 . 0 5 7 . 7 9 3 . 8 6 7 . 3
7 9 6 . 8 2 4 1 . 4
7 4 . 3 4 7 1 . 2
9.8
564 77
140 347
232, 164, - 6 6 124
349.4 217.9
34.5 44.1 - 5 . 4
3.8 54.4
4 4 9 . 5 93.8
124 .1
8 . 6 2 . 0
2 2 1 . 0
174 .2
46.8
6 0 9 . 3 1 4 . 2 9 1 . 1 6 6 . 2
2 0 6 . 4 6 .7
108 .0 3 9 . 7
1.1
38.9 5 1 . 6 4 0 . 0
- 7 9 . 6
36, 104, - 3 3 ,
83 41.
815.8 234.5 84.7
4 9 2 . 1 4 . 5
5 6 3 . 1 77.8
133 .9 3 5 1 . 3
2 5 2 . 7 156 .7 - 4 9 . 2 140 .8
4 . 5
4 6 6 . 4 2 9 9 . 7
5 3 . 1 3 0 . 4 18 .4 1 5 . 2 4 9 . 7
3 9 5 . 7 8 3 . 0
140 .8
1.9 2 . 2
167 .9
191 .3
- 2 3 . 4
5 4 9 . 5 17 .5 10 .8
6 .7
2 1 1 . 3 8 . 9
82.8 73.8 8.5
19 .7 2 2 . 7 6 L 8
- 6 6 . 9
37.5 104.3
32.7 83.8 44.9
7 9 2 . 3 2 2 7 . 2
85.5 478.4
1.1
568, 78,
134 355
2 2 3 . 9 148 .7 - 4 8 . 7 122 .8
1.1
2 5 1 . 1 2 2 0 . 6 - 1 0 . 4
2 . 8 - 1 9 . 3
8.6 48.7
522.3 83.8
122.8
13 .6 2 . 3
2 9 9 . 9
195.1
104 .8
4 6 5 . 7 3 1 . 1
- 2 5 . 9 106 .9
127 .0 9 . 7
82.9 4 3 . 1
8.4
- 7 4 . 19. 34,
3 .
32. 84.
- 8 0 . 103. 88.
7 8 6 . 9 2 1 6 . 0
8 6 . 1 482.3
2.5
5 7 5 . 1 7 9 . 3
135 .9 359.8
211.9 136.7 -49.8 122.5 2.5
4 1 5 . 7 103 .2 122 .5
10 .6 2 . 4
177 .0
166.5
10.5
388.4 21.9 - 8 . 8 57.3
7 6 . 0 8.7
2 5 . 1 4 5 . 2
- 3 1 . 0
8 6 . 1 - 2 7 . 9
6 4 . 4 - 9 4 . 6
2 6 . 0 6 0 . 3 38 . 6 8 1 . 9 3 5 . 2
754 .9 2 0 8 . 9
77 .6 468.5
- . 1
570.8 81.8
135.9 353.2
184.1 127.1 - 5 8 . 3 115 .3
- . 1
4 8 0 . 3 5 3 . 8
102 .3 124 .5
6 0 . 3 11 .7 13 .6
.1 - 6 . 3
9.1 - 18 .9
70.2 - 1 9 . 1
37 .4 7 3 . 0
- 1 0 2 . 0 8 4 . 6 4 6 . 3
731 .0 197.6 77.0
455.3 1.1
577.4 82.3
136 .3 358.8
153.7 115 .3 - 5 9 . 3
96.5 1.1
417.7 Increase in financial assets 1 18.2 Checkable deposits and curr. 2
-29.9 Time and savings deposits 3 -31.8 Money market fund shares 4
227.8 Securities 5 14.8 U.S. savings bonds 6 91.1 Other U.S. Treasury secur. 7 52.9 U.S. govt, agency secur. 8 7.7 Tax-exempt obligations 9
57.4 Corporate 8 foreign bonds 10 -72.1 Open-market paper 11 113.0 Mutual fund shares 12 -37.0 Other corporate equities 13
18.0 Private life insurance res. 14 30.6 Private insured pension res. 15 44.9 Private noninsured pen. res. 16 93.5 Govt, insurance 8 pen. res. 17 46.4 Miscellaneous finan. assets 18
713.3 Gross inv. in tangible assets 19 186.8 Owner-occupied homes 20 78.7 Other fixed assets (2) 21
454.0 Consumer durables 22 -6.3 Inventories (2) 23
580.6 Capital consumption allowances 24 83.6 Owner-occupied homes 25 136.9 Other fixed assets (2) 26 360.1 Consumer durables 27
132.7 Net inv. in tangible assets 103.3 Owner-occupied homes -58.1 Other fixed assets (2) 93.9 Consumer durables -6.3 Inventories (2)
220.6 Net increase in liabilities 2 6 1 . 8 171 .0 179 .7 184.9 150.3 140.8 176.0 Mtg. debt on nonfarm homes 23.2 -8.5 -.1 -3.3 21.3 2.5 -23.6 -20.4
-17.4 12.6 14.3 7.5 -9.5 4.2 13.5 15.2 59.3 9.8 34.8 45.7
Other mortgage debt (2) Consumer credit Security credit Policy loans Other liabilities (2)
28 29 30 31 32
35 36 37 38 39
401.6 81.9 115.3
6.4 1.8
196.2
167.5
28.7
454.2 329.8 Individuals' saving (1+28-33) 40 84.6 93.5 - Govt, insurance 8 pen. res. 96.5 93.9 - Net investment in cons. dur.
- Capital gains dividends 1.2 17.9 from mutual funds 2.1 1.5 - Net saving by farm corps.
269.9 123.0 s Personal saving. FOF basis
168.6 170.1 Personal saving. NIPA basis
101.3 -47.1 Difference
41 42
43 44 45
46
47
(1) Combined statement for households, farm business, and nonfarm noncorporate business.
(2) Includes corporate farms.
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Discrepancies
64 UNADJUSTED NET FLOWS, $ MILLIONS
Discrepancies - Summary for Sectors and Transactions
Discrepancies
UNADJUSTED NET FLOWS. $ MILLIONS
I 1989 1 I IV I I
1990 II III
I 1991 IV I I II
ANNUAL FLOWS. $ BILLIONS 1983 1984 1985 1986
Sector Discrepancies
1 2 3 4 5 6
7 8 9 10
11 12 13 14 15 16 17 18 19 20 21
Total, all sectors Households Nonfin. corporate business State and local governments U.S. 90vernment Forei9n
Financial sectors Sponsored credit a9encies Monetary authority Commercial banks
Private nonbank finance Savings and loan assns. Mutual savings banks Credit unions Life insurance Private pension funds Other insurance Finance n.e.c.
Finance companies REITs Brokers & dealers
-3.076 -8,385 1,947 6,162 10,757 -2,129
-11,428 664
-293 -6,196
-5-603 514 983 159
-4-380 -889 -801
-1,189 -1-229
97 -57
5,530 -10,357 -12,717 6,335 15,040 11,803
-4,574 1-065 -262 2,117
-7,494 -162 356 181 849 -898 -405
-7,415 -7,341
80 -154
-2,008 -40,166
7,352 -4,776 9,543
23,334
2,705 577
-265 6,095
-3,702 -322 1,411 204
-278 -907 -456
-3,354 -3,157
35 -232
31-053 31-217 8,689
-11,947 -6,037 6,716
2,415 785
-267 -11,476
13-373 -237 1,299 223 288
-915 208
12,507 12,484
14 9
-4-523 -10,818
3,725 7,999 14-089 12,085
-31,603 462
-268 -17,221
-14-576 -88 838 246
-2-423 -925 277
-12-501 -12-501
19 -19
-34,004 -36-578 -22,001
7,297 26,976
-13,261
3,563 679
-267 10,696
-7,545 -104 196 267
-6,095 -933 -573 -303 -462
23 136
30,628 -5,977 5,714
-2,728 26,750 22,460
-15,591 905
-119 -12,104
-4,273 -743 572 288
2,142 -943 641
-6,230 -6,224
25 -31
-20.6 •70.4 24.3 4.2 10.1 5.1
6.1 -.3 .5
6.4
-.5 2.4
-1.8 .2
-.8 -.2
-1.9 1.6 1.1 .2 .3
12.0 -48.3 16.5 11.5 13.3 19.2
-.2 .4 .5
-4.0
3.0 4.0 -.9 .1
2.8 -1.5 -.7 -.8 -.4
« -.4
24.4 -23.1 30.6 -2.4 3.2 10.1
6.0 1.8
-1.1 -8.1
13.5 5.7 -.8 .4
-4.6 -2.7 6.5 9.0 9.6 -.2 -.4
-12.0 1 -58.5 2 43.0 3 -2.9 4 21.5 5 3.2 6
-18.3 7 .3 8
-1.9 9 -13.3 10
-3.4 11 5.4 12
-3.4 13 .5 14
-6.8 15 -3.2 16 -2.5 17 6.5 18 6.4 19 .3 20
-.2 21
Transaction Discrepancies
1 Total- all types
3 4
5 6
7 8 9 10
-3,076 5-530 Treasury currency Interbank claims Security RPs Checkable deposit mail
U.S. government Other
Trade credit Profit taxes payable Miscellaneous Nonfinancial
-78 -4,190
59 floats:
200 7,983
25-759 3-555
-30-896 -5,468
-74 5,946 3,297
2,106 -6,041
-29,217 -255
35-705 -5,937
-1
1
10 -21
7
-47 -34 ,118
-97 ,863
679 ,726 ,620 ,640
-81 -418
-18,177
1,787 -4,181
-493 -287
43,565 9,338
-35 -4,683 -3,932
-458 10-817
38,629 5,790
-41-160 -9,491
-49 14,418
-22,793
-7,802 -2,257
-15-553 8,160 2,623
-10,751
-69 5,376
-2,961
4,931 3,269
-617 7,780 7,452 5,467
Nonfinancial components: 11 NIPA discrepancy 12 Pvt. wage accr. less disb.
5,468 5,937 -7,640 -9,338 9,491 10,751 -5,467
>0.6 _ 2 10.9 13.9
1.6 2.6
L9.5 2.4 52.7 -5.3
5.3
12.0 -.1 5.5 .8
.5 -1.9
-17.2 1.7
28.1 -5.4
5.4
24.4 _ #2 5 ^
-8.4
1.3 .8
-4.1 4.9
20.2 4.7
-4.7
-12.0
« -2.8 4.9 -.6
-8.9
-6.8 4.2
-3.7 1.8
-1.8
1
3 4
5 6
7 8 9 10
11 12
LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SEPTEMBER 12, 1991 Discrepancies
SEASONALLY ADJUSTED ANNUAL RATES
Discrepancies
Discrepancies - Summary for Sectors and Transactions 65
SEASONALLY ADJUSTED ANNUAL RATES
ANNUAL FLOWS* $ BILLIONS 1987 1988 1989 1990
I 1989 I 1990 I IV I I II III
I 1991 IV I I II
Sector Discrepancies
1 2 3 4 5 6
7 8 9
10
11 12 13 14 15 16 17 18 19 20 21
- 4 6 . 9 - 3 8 . 7
2 7 . 1 4 . 1
- 3 . 7 - 3 . 4
- 3 2 . 4 .6
- 1 . 7 - 1 5 . 8
- 1 5 . 6 - 7 . 0 - 1 . 7
.1 - 1 3 . 3
- 3 . 4 - 5 . 1 14 .7 14 .6
^2 X
3 .3 - 7 1 . 4
5 3 . 5 .1
33 .4 - 1 7 . 3
5 . 0 .8 .5
14 .3
- 1 0 . 5 - 1 1 . 4
.2
.1 - 3 . 2 - 3 . 3 - 6 . 8 14 .0 14 .0
. 3 - . 3
12.4 - 2 8 . 9
2 4 . 2 - 4 . 6 4 0 . 0
9 .9
- 2 8 . 2 3 .0
- 1 . 2 - 3 7 . 1
7 .1 .1
1.4 .5
- . 3 - 3 . 5 - 5 . 3 14 .2 14 .2
.2 - . 3
3 0 . 1 - 3 0 . 1
7 .0 - 2 . 4 3 2 . 6 5 3 . 9
- 3 1 . 1 2 . 9
- 1 . 1 - 2 0 . 5
- 1 2 . 4 - . 8 3 .9
.9 - 1 . 6 - 3 . 6
- . 4 - 1 0 . 8 - 1 0 . 5
.1 - . 4
18 .2 •46.8
7 .7 •10.6 7 5 . 9
9 .9
•17.8 2 . 0
- 1 . 2 •36.0
17 .4 2 . 1 3 .9
.6 —2 .2 - 3 . 6 - 1 . 7 18 .2 18 .0
.4 _ ^2
114 .6 2 3 . 4 2 2 . 0 - 2 . 1 2 0 . 2 6 2 . 0
- 1 1 . 0 5 . 8
- 1 . 0 24 .2
- 3 9 . 9 - . 6 1.4
.7 - 5 . 4 - 3 . 6 - 1 . 4
- 3 1 . 0 - 3 0 . 7
. 3 - . 6
- 9 . 5 - 1 0 4 . 8
18 .5 - 5 . 1
.6 9 0 . 6
- 9 . 3 3 .0
- 1 . 1 4 . 1
- 1 5 . 4 - 1 . 3
5 . 6 . 8
- 2 . 8 - 3 . 6 - 5 . 6 - 8 . 5 - 7 . 7
.1 - . 9
- 1 5 . 0 - 1 0 . 5 - 2 0 . 2
1.8 13 .9
2 . 4
- 2 . 5 1.3
- 1 . 1 - 2 8 . 1
2 5 . 4 - . 9 5 . 2
.9 - 3 . 7 - 3 . 7
2 . 9 2 4 . 7 2 4 . 6
. 1 K
3 0 . 0 - 2 8 . 7
7 .9 - 4 . 3 9 5 . 8 60 .7
- 1 0 1 . 5 1.4
- 1 . 1 - 8 2 . 2
- 1 9 . 6 - . 4 3 .4 1.0 5 . 7
- 3 . 7 2 . 6
- 2 8 . 2 - 2 8 . 2
.1 - . 1
- 2 5 . 4 - 1 0 1 . 3
3 .2 - 4 . 2 63 .4
- 3 7 . 5
5 0 . 8 4 . 5
- 1 . 1 6 2 . 2
- 1 4 . 9 - . 4
.8 1.1
- 7 . 8 - 3 . 7 - 2 . 1 - 2 . 8 - 3 . 4
.1
. 5
106.4 4 7 . 1
5 . 8 5 . 5
5 7 . 3 8 9 . 8
- 9 9 . 0 4 . 3 - . 5
- 7 3 . 7
- 2 9 . 1 - 3 . 0
2 . 3 1.2
- 6 . 1 - 3 . 8 - 1 . 3
- 1 8 . 4 - 1 8 . 4
.1 - . 1
Total* all sectors 1 Households 2 Nonfin. corporate business 3 State and local governments 4 U.S. government 5 Foreign 6
Financial sectors 7 Sponsored credit agencies 8 Monetary authority 9 Commercial banks 10
Private nonbank finance 11 Savings and loan assns. 12 Mutual savings banks 13 Credit unions 14 Life insurance 15 Private pension funds 16 Other insurance 17 Finance n.e.c. 18 Finance companies 19 REITs 20 Brokers & dealers 21
Transaction Discrepancies
1 2 3 4
5 6
7 8 9
10
11 12
- 4 6 . 9 - . 1
- 4 . 8 - 2 1 . 3
K
.4
- 4 4 . 2 7.0 5 . 4
10 .7
- 1 0 . 7
3 . 3 - . 1
- 3 . 7 - 2 8 . 1
1.6 . 8
- 9 . 3 5 . 9 8 . 0
2 8 . 2
- 2 8 . 2
12.4
- 5 . 1 18.9
8 . 4 - 3 . 2
13 .6 10 .2
- 4 7 . 1 16 .9
- 1 6 . 9
3 0 . 1 - . 2
. 8 - 1 9 . 9
3 . 3 2 . 5
9 .6 16 .0 16 .5
1.6
- 1 . 6
18.2 114.6 -9.5 -15.0 30.0 -25.4 106.4 Total, all types -.3 -.3 -.2 -.3 -.1 -.2 -.3 Treasury currency 3.2 9.3 .2 -8.7 2.5 41.2 22.1 Interbank claims
-9.1 18.4 39.4 -116.1 -21.4 -82.7 33.5 Security RPs ' Checkable deposit mail floats:
1.9 12.4 -15.5 10.3 6.2 -32.9 5.6 U.S. government -5.3 1.6 -4.9 7.9 5.1 17.6 - Other
-2.6 -36.3 12.1 19.2 43.5 20.9 6.9 Trade credit 16.6 -4.4 39.2 3.5 25.6 28.9 27.1 Profit taxes payable 10.8 115.0 -82.8 64.5 -30.7 -10.0 24.7 Miscellaneous 3.1 -1.0 2.9 4.8 -.5 -8.3 -13.2 Nonfinancial
Nonfinancial components: -3.1 1.0 -2.9 -4.8 .5 8.3 13.2 NIPA discrepancy
- - - - - - - Pvt. wage «ccr. less disb.
1 2 3 4
5 6
7 8 9 10
11 12
BILLIONS OF DOLLARS. LATEST QUARTER BASED ON INCOMPLETE INFORMATION.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis