Federal Reserve Economic Data

Quarterly

L.103 Nonfinancial Corporate Business

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
Total financial assets 		Q2 2025 34,583.037 Billions of Dollars 33,050.627 Billions of Dollars 32,041.023 Billions of Dollars Bil. of $
line 2
Foreign deposits 		Q2 2025 219.042 Billions of Dollars 220.815 Billions of Dollars 252.111 Billions of Dollars Bil. of $
line 3
Checkable deposits and currency 		Q2 2025 2,149.601 Billions of Dollars 2,101.816 Billions of Dollars 1,949.778 Billions of Dollars Bil. of $
line 4
Time and savings deposits 		Q2 2025 368.756 Billions of Dollars 383.826 Billions of Dollars 428.762 Billions of Dollars Bil. of $
line 5
Money market fund shares 		Q2 2025 986,564 Millions of Dollars 979,720 Millions of Dollars 878,236 Millions of Dollars Mil. of $
line 6
Security repurchase agreements 		Q2 2025 49.716 Billions of Dollars 54.195 Billions of Dollars 28.343 Billions of Dollars Bil. of $
line 7
Debt securities 		Q2 2025 411,256 Millions of Dollars 415,194 Millions of Dollars 397,627 Millions of Dollars Mil. of $
line 8
Commercial paper 		Q2 2025 204.162 Billions of Dollars 212.104 Billions of Dollars 232.276 Billions of Dollars Bil. of $
line 9
Treasury securities 		Q2 2025 127.804 Billions of Dollars 124.616 Billions of Dollars 94.760 Billions of Dollars Bil. of $
line 10
Agency- and GSE-backed securities 		Q2 2025 40.596 Billions of Dollars 39.534 Billions of Dollars 31.587 Billions of Dollars Bil. of $
line 11
Municipal securities 		Q2 2025 25.425 Billions of Dollars 25.237 Billions of Dollars 25.058 Billions of Dollars Bil. of $
line 12
Loans 		Q2 2025 145,174 Millions of Dollars 145,290 Millions of Dollars 144,369 Millions of Dollars Mil. of $
line 13
Mortgages 		Q2 2025 48.224 Billions of Dollars 48.169 Billions of Dollars 48.005 Billions of Dollars Bil. of $
line 14
Consumer credit 		Q2 2025 0.000 Billions of Dollars 0.000 Billions of Dollars 0.000 Billions of Dollars Bil. of $
line 15
Corporate equities 		Q2 2025 3,239,336 Millions of Dollars 3,005,871 Millions of Dollars 3,171,278 Millions of Dollars Mil. of $
line 16
Mutual fund shares 		Q2 2025 450.065 Billions of Dollars 407.826 Billions of Dollars 370.421 Billions of Dollars Bil. of $
line 17
Trade receivables 		Q2 2025 5,606.114 Billions of Dollars 5,494.540 Billions of Dollars 5,235.904 Billions of Dollars Bil. of $
line 18
U.S. direct investment abroad 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 19
Miscellaneous assets 		Q2 2025 11,499.403 Billions of Dollars 11,403.999 Billions of Dollars 11,051.072 Billions of Dollars Bil. of $
line 20
Insurance receivables 		Q2 2025 584,259 Millions of Dollars 575,431 Millions of Dollars 545,819 Millions of Dollars Mil. of $
line 21
Equity in GSEs 		Q2 2025 2,116 Millions of Dollars 2,183 Millions of Dollars 2,037 Millions of Dollars Mil. of $
line 22
Investment in finance company affiliates 		Q2 2025 149,996 Millions of Dollars 155,368 Millions of Dollars 144,095 Millions of Dollars Mil. of $
line 23
Other 		Q2 2025 10,765,148 Millions of Dollars 10,673,200 Millions of Dollars 10,361,158 Millions of Dollars Mil. of $
line 24
Total liabilities 		Q2 2025 30,574.423 Billions of Dollars 30,322.820 Billions of Dollars 29,594.221 Billions of Dollars Bil. of $
line 25
Debt securities 		Q2 2025 8,653,843 Millions of Dollars 8,662,166 Millions of Dollars 8,425,991 Millions of Dollars Mil. of $
line 26
Commercial paper 		Q2 2025 254.175 Billions of Dollars 235.856 Billions of Dollars 211.891 Billions of Dollars Bil. of $
line 27
Municipal securities 		Q2 2025 650.888 Billions of Dollars 640.985 Billions of Dollars 633.474 Billions of Dollars Bil. of $
line 28
Corporate bonds 		Q2 2025 7,234.317 Billions of Dollars 7,289.641 Billions of Dollars 7,092.320 Billions of Dollars Bil. of $
line 29
Loans 		Q2 2025 5,311,644 Millions of Dollars 5,245,284 Millions of Dollars 5,309,412 Millions of Dollars Mil. of $
line 30
Depository institution loans n.e.c. 		Q2 2025 1,098.988 Billions of Dollars 1,084.040 Billions of Dollars 1,272.344 Billions of Dollars Bil. of $
line 31
Other loans and advances 		Q2 2025 2,766.936 Billions of Dollars 2,728.945 Billions of Dollars 2,640.017 Billions of Dollars Bil. of $
line 32
Mortgages 		Q2 2025 1,445.720 Billions of Dollars 1,432.299 Billions of Dollars 1,397.051 Billions of Dollars Bil. of $
line 33
Trade payables 		Q2 2025 4,197.759 Billions of Dollars 4,088.427 Billions of Dollars 3,810.405 Billions of Dollars Bil. of $
line 34
Taxes payable 		Q2 2025 222,266 Millions of Dollars 334,861 Millions of Dollars 232,462 Millions of Dollars Mil. of $
line 35
Foreign direct investment in U.S. 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 36
Miscellaneous liabilities 		Q2 2025 11,875.719 Billions of Dollars 11,656.181 Billions of Dollars 11,454.216 Billions of Dollars Bil. of $
line 37
Pension fund contributions payable 		Q2 2025 82,920 Millions of Dollars 82,090 Millions of Dollars 79,085 Millions of Dollars Mil. of $
line 38
Claims of pension fund on sponsor 		Q2 2025 162,050 Millions of Dollars 267,484 Millions of Dollars 213,009 Millions of Dollars Mil. of $
line 39
Other 		Q2 2025 11,630,749 Millions of Dollars 11,306,607 Millions of Dollars 11,162,122 Millions of Dollars Mil. of $
Memo:
line 40
Market value of equities 		Q2 2025 65,714.942 Billions of Dollars 59,005.411 Billions of Dollars 58,607.170 Billions of Dollars Bil. of $
line 41
Total liquid assets 		Q2 2025 7,916,817 Millions of Dollars 7,603,281 Millions of Dollars 7,515,279 Millions of Dollars Mil. of $
line 42
Total short-term liabilities 		Q2 2025 8,540,124 Millions of Dollars 8,472,129 Millions of Dollars 8,167,119 Millions of Dollars Mil. of $
line 43
Liquid assets/short-term liabilities (percent) 		Q2 2025 92.70143 Percent 89.74463 Percent 92.01873 Percent %
line 44
Short-term debt/total debt (percent) 		Q2 2025 29.50201 Percent 29.11275 Percent 30.02644 Percent %
   

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