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/.

For questions on the data, please contact the data source: https://www.federalreserve.gov/apps/ContactUs/feedback.aspx?refurl=/releases/z1/%
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    Q4 1945    
 
 
    Q4 2025
Line Name Period Value Preceding
Period 		Year Ago
from Period 		Units
line 1
U.S. net wealth 		Q4 2025 168,758,852 Millions of U.S. Dollars 167,145,535 Millions of U.S. Dollars 156,715,308 Millions of U.S. Dollars Mil. of U.S. $
line 2
Households' direct holdings of nonfinancial assets 		Q4 2025 61,747,410 Millions of U.S. Dollars 61,953,381 Millions of U.S. Dollars 60,083,108 Millions of U.S. Dollars Mil. of U.S. $
line 3
Real estate 		Q4 2025 52,066,921 Millions of U.S. Dollars 52,413,574 Millions of U.S. Dollars 51,014,588 Millions of U.S. Dollars Mil. of U.S. $
line 4
Equipment (nonprofits) 		Q4 2025 729,395 Millions of U.S. Dollars 716,308 Millions of U.S. Dollars 681,682 Millions of U.S. Dollars Mil. of U.S. $
line 5
Intellectual property products (nonprofits) 		Q4 2025 297,547 Millions of U.S. Dollars 289,511 Millions of U.S. Dollars 275,648 Millions of U.S. Dollars Mil. of U.S. $
line 6
Consumer durable goods 		Q4 2025 8,653,547 Millions of U.S. Dollars 8,533,988 Millions of U.S. Dollars 8,111,190 Millions of U.S. Dollars Mil. of U.S. $
line 7
Nonfin. noncorporate businesses nonfinancial assets 		Q4 2025 19,335,049 Millions of U.S. Dollars 19,306,585 Millions of U.S. Dollars 19,034,812 Millions of U.S. Dollars Mil. of U.S. $
line 8
Real estate 		Q4 2025 17,281,854 Millions of U.S. Dollars 17,241,591 Millions of U.S. Dollars 17,049,018 Millions of U.S. Dollars Mil. of U.S. $
line 9
Equipment 		Q4 2025 1,167,496 Millions of U.S. Dollars 1,164,709 Millions of U.S. Dollars 1,161,744 Millions of U.S. Dollars Mil. of U.S. $
line 10
Intellectual property products 		Q4 2025 510,552 Millions of U.S. Dollars 499,952 Millions of U.S. Dollars 484,930 Millions of U.S. Dollars Mil. of U.S. $
line 11
Inventories 		Q4 2025 375,147 Millions of U.S. Dollars 400,333 Millions of U.S. Dollars 339,120 Millions of U.S. Dollars Mil. of U.S. $
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 		Q4 2025 96,324,241 Millions of U.S. Dollars 93,643,034 Millions of U.S. Dollars 81,826,537 Millions of U.S. Dollars Mil. of U.S. $
line 14
Nonfinancial corporate equity 		Q4 2025 73,132,723 Millions of U.S. Dollars 71,340,142 Millions of U.S. Dollars 62,735,890 Millions of U.S. Dollars Mil. of U.S. $
line 15
Financial corporate equity 		Q4 2025 23,191,518 Millions of U.S. Dollars 22,302,892 Millions of U.S. Dollars 19,090,647 Millions of U.S. Dollars Mil. of U.S. $
line 16
Federal government nonfinancial assets 		Q4 2025 4,943,897 Millions of U.S. Dollars 4,879,994 Millions of U.S. Dollars 4,710,067 Millions of U.S. Dollars Mil. of U.S. $
line 17
Structures 		Q4 2025 2,289,496 Millions of U.S. Dollars 2,261,791 Millions of U.S. Dollars 2,196,421 Millions of U.S. Dollars Mil. of U.S. $
line 18
Equipment 		Q4 2025 1,068,599 Millions of U.S. Dollars 1,058,858 Millions of U.S. Dollars 1,023,583 Millions of U.S. Dollars Mil. of U.S. $
line 19
Intellectual property products 		Q4 2025 1,585,802 Millions of U.S. Dollars 1,559,345 Millions of U.S. Dollars 1,490,063 Millions of U.S. Dollars Mil. of U.S. $
line 20
State and local governments nonfinancial assets 		Q4 2025 17,359,322 Millions of U.S. Dollars 17,106,400 Millions of U.S. Dollars 16,561,948 Millions of U.S. Dollars Mil. of U.S. $
line 21
Structures 		Q4 2025 16,802,015 Millions of U.S. Dollars 16,555,919 Millions of U.S. Dollars 16,019,768 Millions of U.S. Dollars Mil. of U.S. $
line 22
Equipment 		Q4 2025 323,691 Millions of U.S. Dollars 322,675 Millions of U.S. Dollars 323,952 Millions of U.S. Dollars Mil. of U.S. $
line 23
Intellectual property products 		Q4 2025 233,616 Millions of U.S. Dollars 227,806 Millions of U.S. Dollars 218,228 Millions of U.S. Dollars Mil. of U.S. $
line 24
Net U.S. financial claims on the rest of the world 		Q4 2025 -26,130,162 Millions of U.S. Dollars -25,869,189 Millions of U.S. Dollars -24,954,810 Millions of U.S. Dollars Mil. of U.S. $
line 25
U.S. financial claims on the rest of the world 		Q4 2025 39,342,407 Millions of U.S. Dollars 38,078,511 Millions of U.S. Dollars 32,130,024 Millions of U.S. Dollars Mil. of U.S. $
line 26
U.S. holdings of foreign corporate equities 		Q4 2025 15,031,160 Millions of U.S. Dollars 14,569,214 Millions of U.S. Dollars 11,996,289 Millions of U.S. Dollars Mil. of U.S. $
line 27
Other U.S. financial claims 		Q4 2025 11,735,583 Millions of U.S. Dollars 11,535,199 Millions of U.S. Dollars 10,274,220 Millions of U.S. Dollars Mil. of U.S. $
line 28
Less: Foreign financial claims on U.S. 		Q4 2025 65,472,569 Millions of U.S. Dollars 63,947,700 Millions of U.S. Dollars 57,084,834 Millions of U.S. Dollars Mil. of U.S. $
line 29
Foreign holdings of U.S. corporate equities 		Q4 2025 20,454,859 Millions of U.S. Dollars 19,609,113 Millions of U.S. Dollars 16,899,640 Millions of U.S. Dollars Mil. of U.S. $
line 30
Other foreign financial claims 		Q4 2025 45,017,710 Millions of U.S. Dollars 44,338,587 Millions of U.S. Dollars 40,185,194 Millions of U.S. Dollars Mil. of U.S. $
Memo:
line 31
A. U.S. net wealth (line 1) 		Q4 2025 168,758,852 Millions of U.S. Dollars 167,145,535 Millions of U.S. Dollars 156,715,308 Millions of U.S. Dollars Mil. of U.S. $
line 32
Change in U.S. net wealth 		Q4 2025 1,613,317 Millions of U.S. Dollars 5,564,500 Millions of U.S. Dollars 1,208,928 Millions of U.S. Dollars Mil. of U.S. $
line 33
Percent change in U.S. net wealth 		Q4 2025 0.96522 Percent 3.44378 Percent 0.77741 Percent %
line 34
B. Household net worth 		Q4 2025 184,105,614 Millions of U.S. Dollars 181,932,632 Millions of U.S. Dollars 169,619,241 Millions of U.S. Dollars Mil. of U.S. $
line 35
Change in household net worth 		Q4 2025 2,172,982 Millions of U.S. Dollars 6,235,061 Millions of U.S. Dollars 772,386 Millions of U.S. Dollars Mil. of U.S. $
line 36
Percent change in household net worth 		Q4 2025 1.19439 Percent 3.54875 Percent 0.45745 Percent %
   

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