Federal Reserve Economic Data

Quarterly

B.1 Derivation of U.S. Net Wealth

The Financial Accounts (formerly known as the Flow of Funds accounts) are a set of financial accounts used to track the sources and uses of funds by sector. They are a component of a system of macroeconomic accounts including the National Income and Product accounts (NIPA) and balance of payments accounts, all of which serve as a comprehensive set of information on the economy’s performance.(1) Some important inferences that can be drawn from the Financial accounts are the financial strength of a given sector, new economic trends, changes in the composition of wealth, and development of new financial instruments over time.(1)
Sectors are compiled into three categories: households, nonfinancial businesses, and banks. The sources of funds for a sector are its internal funds (savings from income after consumption) and external funds (loans from banks and other financial intermediaries). (1) Funds for a given sector are used for its investments in physical and financial assets. Dividing sources and uses of funds into two categories helps the staff of the Federal Reserve System pay particular attention to external sources of funds and financial uses of funds.(2) One example is whether households are borrowing more from banks—or in other words, whether household debt is rising. Another example might be whether banks are using more of their funds to provide loans to consumers. Transactions within a sector are not shown in the accounts; however, transactions between sectors are.(2) Monitoring the external flows of funds provides insights into a sector’s health and the performance of the economy as a whole.
Data for the Financial accounts are compiled from a large number of reports and publications, including regulatory reports such as those submitted by banks, tax filings, and surveys conducted by the Federal Reserve System.(2) The Financial accounts are published quarterly as a set of tables in the Federal Reserve’s Z.1 statistical release.
(1) Teplin, Albert M. “The U.S. Flow of Funds Accounts and Their Uses.” Federal Reserve Bulletin, July 2001; http://www.federalreserve.gov/pubs/bulletin/2001/0701lead.pdf.
(2) Board of Governors of the Federal Reserve System. “Guide to the Flow of Funds Accounts.” 2000, http://www.federalreserve.gov/apps/fof/.

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    Q4 1945    
 
 
    Q2 2025
Line Name Period Value Preceding
Period 		Year Ago
from Period 		Units
line 1
U.S. net wealth 		Q2 2025 162,647,465 Millions of Dollars 155,145,049 Millions of Dollars 154,922,452 Millions of Dollars Mil. of $
line 2
Households' direct holdings of nonfinancial assets 		Q2 2025 62,689,730 Millions of Dollars 61,267,772 Millions of Dollars 61,799,532 Millions of Dollars Mil. of $
line 3
Real estate 		Q2 2025 53,224.213 Billions of Dollars 51,988.584 Billions of Dollars 52,855.140 Billions of Dollars Bil. of $
line 4
Equipment (nonprofits) 		Q2 2025 709,595 Millions of Dollars 697,856 Millions of Dollars 674,838 Millions of Dollars Mil. of $
line 5
Intellectual property products (nonprofits) 		Q2 2025 284,802 Millions of Dollars 281,874 Millions of Dollars 266,804 Millions of Dollars Mil. of $
line 6
Consumer durable goods 		Q2 2025 8,471,120 Millions of Dollars 8,299,458 Millions of Dollars 8,002,750 Millions of Dollars Mil. of $
line 7
Nonfin. noncorporate businesses nonfinancial assets 		Q2 2025 18,968,207 Millions of Dollars 18,915,782 Millions of Dollars 18,800,094 Millions of Dollars Mil. of $
line 8
Real estate 		Q2 2025 17,008.386 Billions of Dollars 16,979.818 Billions of Dollars 16,888.920 Billions of Dollars Bil. of $
line 9
Equipment 		Q2 2025 1,111,479 Millions of Dollars 1,106,930 Millions of Dollars 1,121,774 Millions of Dollars Mil. of $
line 10
Intellectual property products 		Q2 2025 493,454 Millions of Dollars 486,659 Millions of Dollars 464,651 Millions of Dollars Mil. of $
line 11
Inventories 		Q2 2025 354,888 Millions of Dollars 342,375 Millions of Dollars 324,749 Millions of Dollars Mil. of $
line 12
Fin. noncorporate businesses nonfinancial assets 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 13
Market value of domestic corporations 		Q2 2025 86,203,628 Millions of Dollars 78,012,088 Millions of Dollars 75,307,492 Millions of Dollars Mil. of $
line 14
Nonfinancial corporate equity 		Q2 2025 65,714.942 Billions of Dollars 59,005.411 Billions of Dollars 58,607.170 Billions of Dollars Bil. of $
line 15
Financial corporate equity 		Q2 2025 20,488,686 Millions of Dollars 19,006,677 Millions of Dollars 16,700,322 Millions of Dollars Mil. of $
line 16
Federal government nonfinancial assets 		Q2 2025 4,885,740 Millions of Dollars 4,826,225 Millions of Dollars 4,676,704 Millions of Dollars Mil. of $
line 17
Structures 		Q2 2025 2,246,054 Millions of Dollars 2,229,642 Millions of Dollars 2,191,828 Millions of Dollars Mil. of $
line 18
Equipment 		Q2 2025 1,039,234 Millions of Dollars 1,024,297 Millions of Dollars 996,811 Millions of Dollars Mil. of $
line 19
Intellectual property products 		Q2 2025 1,600,452 Millions of Dollars 1,572,286 Millions of Dollars 1,488,065 Millions of Dollars Mil. of $
line 20
State and local governments nonfinancial assets 		Q2 2025 17,073,844 Millions of Dollars 16,901,624 Millions of Dollars 16,428,184 Millions of Dollars Mil. of $
line 21
Structures 		Q2 2025 16,517,979 Millions of Dollars 16,351,846 Millions of Dollars 15,900,077 Millions of Dollars Mil. of $
line 22
Equipment 		Q2 2025 333,600 Millions of Dollars 329,551 Millions of Dollars 320,791 Millions of Dollars Mil. of $
line 23
Intellectual property products 		Q2 2025 222,265 Millions of Dollars 220,227 Millions of Dollars 207,316 Millions of Dollars Mil. of $
line 24
Net U.S. financial claims on the rest of the world 		Q2 2025 -24,429,300 Millions of Dollars -23,004,214 Millions of Dollars -22,049,105 Millions of Dollars Mil. of $
line 25
U.S. financial claims on the rest of the world 		Q2 2025 36,207,182 Millions of Dollars 33,496,263 Millions of Dollars 31,708,978 Millions of Dollars Mil. of $
line 26
U.S. holdings of foreign corporate equities 		Q2 2025 13,593,580 Millions of Dollars 12,410,247 Millions of Dollars 11,878,534 Millions of Dollars Mil. of $
line 27
Other U.S. financial claims 		Q2 2025 11,168,655 Millions of Dollars 10,858,202 Millions of Dollars 9,912,951 Millions of Dollars Mil. of $
line 28
Less: Foreign financial claims on U.S. 		Q2 2025 60,636,482 Millions of Dollars 56,500,477 Millions of Dollars 53,758,083 Millions of Dollars Mil. of $
line 29
Foreign holdings of U.S. corporate equities 		Q2 2025 18,111,565 Millions of Dollars 16,192,826 Millions of Dollars 15,349,172 Millions of Dollars Mil. of $
line 30
Other foreign financial claims 		Q2 2025 42,524,917 Millions of Dollars 40,307,651 Millions of Dollars 38,408,911 Millions of Dollars Mil. of $
Memo:
line 31
A. U.S. net wealth (line 1) 		Q2 2025 162,647,465 Millions of Dollars 155,145,049 Millions of Dollars 154,922,452 Millions of Dollars Mil. of $
line 32
Change in U.S. net wealth 		Q2 2025 7,502,416 Millions of Dollars -3,212,639 Millions of Dollars 3,044,012 Millions of Dollars Mil. of $
line 33
Percent change in U.S. net wealth 		Q2 2025 4.83574 Percent -2.02872 Percent 2.00424 Percent %
line 34
B. Household net worth 		Q2 2025 176,292.904 Billions of Dollars 169,206.677 Billions of Dollars 166,159.502 Billions of Dollars Bil. of $
line 35
Change in household net worth 		Q2 2025 7,086,227 Millions of Dollars -1,726,053 Millions of Dollars 3,104,488 Millions of Dollars Mil. of $
line 36
Percent change in household net worth 		Q2 2025 4.18791 Percent -1.00978 Percent 1.90395 Percent %
   

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