z1_19910912

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


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


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 -


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-


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-


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.



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.


Asset data are available through 1990:4 and liability data through 1989:4.


Data are available through 1990:4.

Some data are available through 1990:4.



All data are available for 1991:2.


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.

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I •H > I


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-


SEPTEMBER 12, 1991 Income and Product Distribution Income and Product Distribution

SEASONALLY ADJUSTED ANNUAL RATES

Income and Product Accounts: GNP Expenditures and Gross Saving


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.


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.


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


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



SEPTEMBER 12- 1991 Credit Market Supply of Funds


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



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.



SEPTEMBER 12. 1991 Credit Market Supply of Funds


Direct and Indirect Sources of Funds to Credit Markets

Credit Market Supply of Funds



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



SEPTEMBER 12, 1991 Households


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


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



SEPTEMBER 12, 1991 Households Households


Sector Statements of Saving and Investment



I 1989 I I IV I I


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


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.


SEPTEMBER 12- 1991 Total and Noncorporate Business



Total and Noncorporate Business


I 1989 I I IV I I

1990 II III

I 1991 IV I I II


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



Total and Noncorporate Business




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


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.



SEPTEMBER 12, 1991 Nonfinancial Corporate Business

10 Sector Statements of Savins and Investment


Nonfinancial Corporate Business



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.



SEPTEMBER 12, 1991 Nonfinancial Corporate Business



Nonfinancial Corporate Business

11 SEASONALLY ADJUSTED ANNUAL RATES



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


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.




SEPTEMBER 12, 1991 State and Local Governments

12 UNADJUSTED NET FLOWS, $ MILLIONS


State and Local Governments


I 1989 I I IV I I


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,


SEPTEMBER 12, 1991 State and Local Governments



State and Local Governments

Sector Statements of Savins and Investment 13 SEASONALLY ADJUSTED ANNUAL RATES

I 1«89 I I IV I


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


(1) Employee retirement funds are in insurance sector.


SEPTEMBER 12, 1991

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


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.


SEPTEMBER 12- 1991 U.S. Government and Credit Agencies






I 1989 I I IV I I


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


Sector Statements of Savin9 and Investment

Fortisn sector


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.


(4) BOP discrepancy adjusted to national accounts concepts.



SEPTEMBER 12, 1991 Forei9n sector



Foreign sector



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.


(4) BOP discrepancy adjusted to national accounts concepts.



SEPTEMBER 12, 1991 Banking System

18 Sector Statements of Saving and Investment


Banking System


I 1989 I I IV I I


Monetary Authority

ANNUAL FLOWS, 1983 1984

$ BILLIONS 1985 1986


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.



SEPTEMBER 12, 1991 Banking System Banking System

Sector Statements of Saving and Investment 19 SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES



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


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.


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


U.S.-Chartered Commercial Banks


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.


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



SEPTEMBER 12- 1991 Commercial Banking Subsectors


Commercial Banking Subsectors

Subsector Statements for Component Groups in Commercial Banking o-j



I 1989 I I IV I I


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


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


•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



SEPTEMBER 12- 1991 Commercial Banking Subsectors* Continued

22 Commercial Banking Subsectors- Continued


Commercial Banking Subsectors- Continued


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)


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


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



SEPTEMBER 12- 1991 Commercial Bankins Subsectors. Continued


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


1.9 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.


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




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


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



SEPTEMBER 12, 1991 Nonbank Finance Summary



Private Nonbank Financial Institutions

Nonbank Finance Summary


I 1989 I I IV I I


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,


SEPTEMBER 12- 1991 Savings Institutions


Savings Institutions

UNADJUSTED NET FLOWS- $ MILLIONS UNADJUSTED NET FLOWS, $ MILLIONS



Savings and Loan Associations (1)


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


•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)


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


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


SEPTEMBER 12, 1991 Savin9s Institutions



Savings Institutions

Sector Statements of Savin9 and Investment 27


I 1989 I I IV I I


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


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


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


.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


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


Net increase in liabilities Shares/deposits

Checkable Small time 8 savings Large time


Discrepancy

1 2

3 4 5 6 7 8

9 10 11 12 13 14 15

16 17 18 19 20 21

22


SEPTEMBER 12. 1991 Insurance and Pension Funds

28 UNADJUSTED NET FLOWS- $ MILLIONS

Sector Statements of Savins and Investment

Insurance and Pension Funds


I 1989 I I IV I



Life Insurance Companies


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)


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


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



SEPTEMBER 12- 1*91 Insurance and Pension Funds


Insurance and Pension Funds

Sector Statements of Saving and Investment 29 SEASONALLY ADJUSTED ANNUAL RATES


| 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


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


SEPTEMBER 12, 1991 Finance n.e.c.

30 Sector Statements of Savin9 and Investment


I 1989 I I IV I I

1990 II III IV I I II

Finance Companies

Finance n.e.c.




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



SEPTEMBER 12- 1991 Finance n.e.c. Finance n.e.c.


Sector Statements of Saving and Investment 31




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



SEPTEMBER 12- 1991 Finance n.e.c, Continued



Finance n.e.c. Continued


I 1989 I I IV I I

1990 II III IV I I II

Real Estate Investment Trusts


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


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



SEPTEMBER 12, 1991 Finance n.e.c, Continued



Finance n.e.c* Continued

Sector Statements of Saving and Investment 33 SEASONALLY ADJUSTED ANNUAL RATES

I 1989 I I IV I I


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



SEPTEMBER 12. 1991 Monetary and Insurance Reserves

34 Foreisn Exchan9e. Treasury Currency, and Insurance Reserves


Monetary and Insurance Reserves




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



SEPTEMBER 12- 1991 Monetary and Insurance Reserves Monetary and Insurance Reserves


Foreign Exchange- Treasury Currency- and Insurance Reserves

ANNUAL FLOWS- S BILLIONS 1987 1988 1989 1990


Gold and Official Foreign Exchange Holdings (1)


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)



SEPTEMBER 12- 1991 Interbank Claims

36 Net Interbank Positions, Domestic and Forei9n Banks


Interbank Claims


I 1989 I I IV I I


Net Interbank Claims


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



SEPTEMBER 12- 1991 Interbank Claims


Interbank Claims

Net Interbank Positions- Domestic and Foreign Banks 37 SEASONALLY ADJUSTED ANNUAL RATES



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



SEPTEMBER 12, 1991 Deposit Claims I

38 Monetary Claims on Financial Institutions


Deposit Claims I


I 1989 I I IV I I



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



SEPTEMBER 12, 1991 Deposit Claims I Deposit Claims I


Monetary Claims on Financial Institutions 39 SEASONALLY ADJUSTED ANNUAL RATES



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


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


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


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



SEPTEMBER 12, 1991 Deposit Claims II


Monetary Claims on Financial Institutions, Continued

Deposit Claims II


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



SEPTEMBER 12, 1991 Deposit Claims II Deposit Claims II


Monetary Claims on Financial Institutions* Continued 41 SEASONALLY ADJUSTED ANNUAL RATES


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.


SEPTEMBER 12, 1991 U.S. Government Securities

42 U.S. Government Securities Market Summary


U.S. Government Securities


I 1989 I I IV I I



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.



SEPTEMBER 12, 1991 U.S. Government Securities


U.S. Government Securities Market Summary

U.S. Government Securities


ANNUAL FLOWS-198 7 1988

317 .5 144.9 172 .5


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.



SEPTEMBER 12, 1991 Private Securities

44 Tax-Exempt Debt and Corporate and Forei9n Securities


Private Securities


I 1989 1 1990 I 1991 I IV I I II III IV I I II


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.


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.



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


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.


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.



SEPTEMBER 12- 1991 Mort9a9es I

46 Mortgage Markets by Type of Mortgage


Mortgages I


I 1989 I I IV I I

1990 I II III IV I

1991 I II


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



SEPTEMBER 12 Mortgages I


Mortgages I

Mort9a9e Markets by Type of Mortgage 47



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



SEPTEMBER 12- 1991 Mortgages II

48 Mortgage Markets, Continued


Mortgages II


1989 IV

1990 II III

1991 I II IV I

Multifamily Residential Mortgages


1 Net borrowing 2 Nonfarm noncorp. business 3 Nonfin. corporate business 4 REITs 5 U.S. government


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


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


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


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



SEPTEMBER 12- 1991 Mortgages II


Mort9a9es II

Mortgage Markets. Continued 49 SEASONALLY ADJUSTED ANNUAL RATES


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


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



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


I 1989 I I IV I

1990 II III IV I

1991 I II

Consumer Credit


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



SEPTEMBER 12, 1991 Consumer Credit and Bank Loans n.e.c. Consumer Credit and Bank Loans n.e.c.


Consumer Credit and Bank Loans Not Elsewhere Classified 51 SEASONALLY ADJUSTED ANNUAL RATES



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



SEPTEMBER 12, 1991 Open-Market Paper and Other Loans

52 Open-Market Paper and Other Loans


Open-Market Paper and Other Loans


I 1989 I I IV I I

1990 I II III IV I

1991 I II

Open-Market Paper


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



SEPTEMBER 12- 1991 Open-Market Paper and Other Loans Open-Market Paper and Other Loans



Open-Market Paper and Other Loans 53 SEASONALLY ADJUSTED ANNUAL RATES

I 1989 I I IV I I


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



SEPTEMBER 12, 1991 Security Credit, Trade Credit, and Taxes Security Credit, Trade Credit, and Taxes

54 Security Credit, Trade Credit, and Taxes Payable


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


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



SEPTEMEER 12- 1991 Security Credit. Trade Credit, and Taxes Security Credit. Trade Credit, and Taxes


Security Credit. Trade Credit, and Taxes Payable 55 SEASONALLY ADJUSTED ANNUAL RATES


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



SEPTEMBER 12, 1991 Miscellaneous I

56 Miscellaneous Financial Claims


Miscellaneous I




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


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.



SEPTEMBER 12, 1991 Miscellaneous I



Miscellaneous Financial Claims

I 1989 I I IV I I

1990 II III

Miscellaneous I


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


-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


.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.



SEPTEMBER 12. 1991 Miscellaneous II


Miscellaneous Financial Claims- Continued

Miscellaneous II


(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


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



SEPTEMBER 12- 1991 Miscellaneous II


Miscellaneous II

Miscellaneous Financial Claims. Continued 59 SEASONALLY ADJUSTED ANNUAL RATES


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



SEPTEMBER 12, 1991 Total Claims

60 Total Claims

Total Financial Assets and Liabilities


Total net borrowing 1 in credit markets

1989 IV




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


SEPTEMBER 12, Total Claims Total Claims


Total Financial Assets and Liabilities 61 SEASONALLY ADJUSTED ANNUAL RATES



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


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


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


SEPTEMBER 12* 1991 Savin9 by Individuals

62 UNADJUSTED NET FLOWS. $ MILLIONS

Amount and Composition of Individuals' Savins (1)

Savins by Individuals


I 1989 I I IV I I



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.



SEPTEMBER 12. 1991 Savins by Individuals


Savin9 by Individuals

Amount and Composition of Individuals' Saving (1) 63 SEASONALLY ADJUSTED ANNUAL RATES


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.



SEPTEMBER 12, 1991 Discrepancies


Discrepancies - Summary for Sectors and Transactions

Discrepancies


I 1989 1 I IV I I

1990 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

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



SEPTEMBER 12, 1991 Discrepancies


Discrepancies

Discrepancies - Summary for Sectors and Transactions 65


ANNUAL FLOWS* $ BILLIONS 1987 1988 1989 1990


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



z1_19910912

Documents

mutual funds

louisflow of funds accounts

security credit

trade credit

credit unions

consumer credit

credit agencies

commercial mortgages