Annual

L.212 Municipal Securities

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/%
For questions on FRED functionality, please contact: https://fred.stlouisfed.org/contactus/

   

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    1945    
 
 
    2025
Line Name Period Value Preceding
Period 		Year Ago
from Period 		Units
line 1
Total liabilities 		2025 4,403,752 Millions of U.S. Dollars 4,214,961 Millions of U.S. Dollars 4,214,961 Millions of U.S. Dollars Mil. of U.S. $
line 2
State and local governments 		2025 3,519,568 Millions of U.S. Dollars 3,362,254 Millions of U.S. Dollars 3,362,254 Millions of U.S. Dollars Mil. of U.S. $
line 3
Short-term 		2025 38,539 Millions of U.S. Dollars 34,408 Millions of U.S. Dollars 34,408 Millions of U.S. Dollars Mil. of U.S. $
line 4
Long-term 		2025 3,481,029 Millions of U.S. Dollars 3,327,846 Millions of U.S. Dollars 3,327,846 Millions of U.S. Dollars Mil. of U.S. $
line 5
Nonprofit organizations 		2025 232,478 Millions of U.S. Dollars 216,282 Millions of U.S. Dollars 216,282 Millions of U.S. Dollars Mil. of U.S. $
line 6
Nonfinancial corporate business (industrial revenue bonds) 		2025 651,706 Millions of U.S. Dollars 636,425 Millions of U.S. Dollars 636,425 Millions of U.S. Dollars Mil. of U.S. $
line 7
Total assets 		2025 4,284,648 Millions of U.S. Dollars 4,067,831 Millions of U.S. Dollars 4,067,831 Millions of U.S. Dollars Mil. of U.S. $
line 8
Household sector 		2025 2,060,747 Millions of U.S. Dollars 1,941,126 Millions of U.S. Dollars 1,941,126 Millions of U.S. Dollars Mil. of U.S. $
line 9
Nonfinancial corporate business 		2025 28,169 Millions of U.S. Dollars 25,751 Millions of U.S. Dollars 25,751 Millions of U.S. Dollars Mil. of U.S. $
line 10
Nonfinancial noncorporate business 		2025 3,518 Millions of U.S. Dollars 3,390 Millions of U.S. Dollars 3,390 Millions of U.S. Dollars Mil. of U.S. $
line 11
State and local governments 		2025 48,481 Millions of U.S. Dollars 46,040 Millions of U.S. Dollars 46,040 Millions of U.S. Dollars Mil. of U.S. $
line 12
U.S.-chartered depository institutions 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 13
Foreign banking offices in U.S. 		2025 0 Millions of U.S. Dollars 0 Millions of U.S. Dollars 0 Millions of U.S. Dollars Mil. of U.S. $
line 14
Banks in U.S.-affiliated areas 		2025 206 Millions of U.S. Dollars 101 Millions of U.S. Dollars 101 Millions of U.S. Dollars Mil. of U.S. $
line 15
Credit unions 		2025 9,698 Millions of U.S. Dollars 10,089 Millions of U.S. Dollars 10,089 Millions of U.S. Dollars Mil. of U.S. $
line 16
Property-casualty insurance companies 		2025 208,534 Millions of U.S. Dollars 206,653 Millions of U.S. Dollars 206,653 Millions of U.S. Dollars Mil. of U.S. $
line 17
Life insurance companies 		2025 176,503 Millions of U.S. Dollars 170,950 Millions of U.S. Dollars 170,950 Millions of U.S. Dollars Mil. of U.S. $
line 18
Federal government retirement funds 		2025 27 Millions of U.S. Dollars 25 Millions of U.S. Dollars 25 Millions of U.S. Dollars Mil. of U.S. $
line 19
State and local govt. retirement funds 		2025 0 Millions of U.S. Dollars 0 Millions of U.S. Dollars 0 Millions of U.S. Dollars Mil. of U.S. $
line 20
Money market funds 		2025 155,031 Millions of U.S. Dollars 138,514 Millions of U.S. Dollars 138,514 Millions of U.S. Dollars Mil. of U.S. $
line 21
Mutual funds 		2025 836,504 Millions of U.S. Dollars 799,825 Millions of U.S. Dollars 799,825 Millions of U.S. Dollars Mil. of U.S. $
line 22
Closed-end funds 		2025 69,820 Millions of U.S. Dollars 74,361 Millions of U.S. Dollars 74,361 Millions of U.S. Dollars Mil. of U.S. $
line 23
Exchange-traded funds 		2025 184,514 Millions of U.S. Dollars 137,896 Millions of U.S. Dollars 137,896 Millions of U.S. Dollars Mil. of U.S. $
line 24
Government-sponsored enterprises 		2025 2,478 Millions of U.S. Dollars 2,344 Millions of U.S. Dollars 2,344 Millions of U.S. Dollars Mil. of U.S. $
line 25
Brokers and dealers 		2025 13,475 Millions of U.S. Dollars 15,442 Millions of U.S. Dollars 15,442 Millions of U.S. Dollars Mil. of U.S. $
line 26
Rest of the world 		2025 125,031 Millions of U.S. Dollars 120,976 Millions of U.S. Dollars 120,976 Millions of U.S. Dollars Mil. of U.S. $
line 27
Discrepancy 		2025 119,104 Millions of U.S. Dollars 147,130 Millions of U.S. Dollars 147,130 Millions of U.S. Dollars Mil. of U.S. $
   

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