Federal Reserve Economic Data

Quarterly

L.208 Debt 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/.

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    Q4 1945    
 
 
    Q2 2025
Line Name Period Value Preceding
Period 		Year Ago
from Period 		Units
By instrument
line 1
Total debt securities 		Q2 2025 63,149,425 Millions of Dollars 62,713,619 Millions of Dollars 60,112,389 Millions of Dollars Mil. of $
line 2
Open market paper 		Q2 2025 1,389,706 Millions of Dollars 1,318,847 Millions of Dollars 1,217,483 Millions of Dollars Mil. of $
line 3
Treasury securities 		Q2 2025 28,518,345 Millions of Dollars 28,447,272 Millions of Dollars 26,903,135 Millions of Dollars Mil. of $
line 4
Agency- and GSE-backed securities 		Q2 2025 12,438,747 Millions of Dollars 12,296,464 Millions of Dollars 12,057,458 Millions of Dollars Mil. of $
line 5
Municipal securities 		Q2 2025 4,307,533 Millions of Dollars 4,236,530 Millions of Dollars 4,153,564 Millions of Dollars Mil. of $
line 6
Corporate and foreign bonds 		Q2 2025 16,495,094 Millions of Dollars 16,414,506 Millions of Dollars 15,780,749 Millions of Dollars Mil. of $
By sector
line 7
Total liabilities 		Q2 2025 63,149,425 Millions of Dollars 62,713,619 Millions of Dollars 60,112,389 Millions of Dollars Mil. of $
line 8
Domestic nonfinancial sectors 		Q2 2025 40,849,972 Millions of Dollars 40,725,677 Millions of Dollars 38,869,435 Millions of Dollars Mil. of $
line 9
Nonprofit organizations 		Q2 2025 223.060 Billions of Dollars 217.248 Billions of Dollars 212.835 Billions of Dollars Bil. of $
line 10
Nonfinancial corporate business 		Q2 2025 8,653,843 Millions of Dollars 8,662,166 Millions of Dollars 8,425,991 Millions of Dollars Mil. of $
line 11
Federal government 		Q2 2025 28,539,484 Millions of Dollars 28,467,966 Millions of Dollars 26,923,354 Millions of Dollars Mil. of $
line 12
State and local governments 		Q2 2025 3,433,585 Millions of Dollars 3,378,297 Millions of Dollars 3,307,255 Millions of Dollars Mil. of $
line 13
Domestic financial sectors 		Q2 2025 18,361,027 Millions of Dollars 18,127,671 Millions of Dollars 17,509,732 Millions of Dollars Mil. of $
line 14
U.S.-chartered depository institutions 		Q2 2025 455,447 Millions of Dollars 441,173 Millions of Dollars 433,119 Millions of Dollars Mil. of $
line 15
Foreign banking offices in U.S. 		Q2 2025 171,995 Millions of Dollars 165,098 Millions of Dollars 157,980 Millions of Dollars Mil. of $
line 16
Government-sponsored enterprises 		Q2 2025 9,290,556 Millions of Dollars 9,197,802 Millions of Dollars 9,086,472 Millions of Dollars Mil. of $
line 17
Agency- and GSE-backed mortgage pools 		Q2 2025 3,127,052 Millions of Dollars 3,077,968 Millions of Dollars 2,950,767 Millions of Dollars Mil. of $
line 18
ABS issuers 		Q2 2025 1,704,191 Millions of Dollars 1,677,030 Millions of Dollars 1,539,704 Millions of Dollars Mil. of $
line 19
Finance companies 		Q2 2025 1,223,374 Millions of Dollars 1,229,742 Millions of Dollars 1,197,788 Millions of Dollars Mil. of $
line 20
REITs 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 21
Brokers and dealers 		Q2 2025 377,165 Millions of Dollars 358,264 Millions of Dollars 259,133 Millions of Dollars Mil. of $
line 22
Holding companies 		Q2 2025 1,637,124 Millions of Dollars 1,606,968 Millions of Dollars 1,535,168 Millions of Dollars Mil. of $
line 23
Funding corporations 		Q2 2025 160,311 Millions of Dollars 162,092 Millions of Dollars 142,421 Millions of Dollars Mil. of $
line 24
Rest of the world 		Q2 2025 3,938,426 Millions of Dollars 3,860,271 Millions of Dollars 3,733,222 Millions of Dollars Mil. of $
line 25
Total assets 		Q2 2025 60,108,599 Millions of Dollars 59,360,090 Millions of Dollars 55,700,074 Millions of Dollars Mil. of $
line 26
Domestic nonfinancial sectors 		Q2 2025 9,187,422 Millions of Dollars 9,001,553 Millions of Dollars 8,636,149 Millions of Dollars Mil. of $
line 27
Household sector 		Q2 2025 5,876,576 Millions of Dollars 5,783,696 Millions of Dollars 5,600,075 Millions of Dollars Mil. of $
line 28
Nonfinancial corporate business 		Q2 2025 411,256 Millions of Dollars 415,194 Millions of Dollars 397,627 Millions of Dollars Mil. of $
line 29
Nonfinancial noncorporate business 		Q2 2025 90,955 Millions of Dollars 90,619 Millions of Dollars 88,755 Millions of Dollars Mil. of $
line 30
Federal government 		Q2 2025 7,383 Millions of Dollars 9,211 Millions of Dollars 4,081 Millions of Dollars Mil. of $
line 31
State and local governments 		Q2 2025 2,801,252 Millions of Dollars 2,702,833 Millions of Dollars 2,545,611 Millions of Dollars Mil. of $
line 32
Domestic financial sectors 		Q2 2025 35,547,042 Millions of Dollars 35,270,730 Millions of Dollars 33,094,538 Millions of Dollars Mil. of $
line 33
Monetary authority 		Q2 2025 5,641,597 Millions of Dollars 5,710,743 Millions of Dollars 5,959,280 Millions of Dollars Mil. of $
line 34
U.S.-chartered depository institutions 		Q2 2025 5,578,330 Millions of Dollars 5,499,257 Millions of Dollars 5,257,169 Millions of Dollars Mil. of $
line 35
Foreign banking offices in U.S. 		Q2 2025 316,528 Millions of Dollars 295,112 Millions of Dollars 291,562 Millions of Dollars Mil. of $
line 36
Banks in U.S.-affiliated areas 		Q2 2025 81,803 Millions of Dollars 80,769 Millions of Dollars 76,774 Millions of Dollars Mil. of $
line 37
Credit unions 		Q2 2025 359,332 Millions of Dollars 354,612 Millions of Dollars 346,914 Millions of Dollars Mil. of $
line 38
Property-casualty insurance companies 		Q2 2025 1,653,328 Millions of Dollars 1,659,848 Millions of Dollars 1,504,305 Millions of Dollars Mil. of $
line 39
Life insurance companies 		Q2 2025 4,386,386 Millions of Dollars 4,286,340 Millions of Dollars 4,059,690 Millions of Dollars Mil. of $
line 40
Private pension funds 		Q2 2025 1,741,761 Millions of Dollars 1,718,886 Millions of Dollars 1,636,229 Millions of Dollars Mil. of $
line 41
Federal government retirement funds 		Q2 2025 46,480 Millions of Dollars 45,960 Millions of Dollars 42,235 Millions of Dollars Mil. of $
line 42
State and local govt. retirement funds 		Q2 2025 1,262,985 Millions of Dollars 1,269,396 Millions of Dollars 1,191,780 Millions of Dollars Mil. of $
line 43
Money market funds 		Q2 2025 4,069,426 Millions of Dollars 4,252,458 Millions of Dollars 3,611,484 Millions of Dollars Mil. of $
line 44
Mutual funds 		Q2 2025 5,569,165 Millions of Dollars 5,555,961 Millions of Dollars 5,225,496 Millions of Dollars Mil. of $
line 45
Closed-end funds 		Q2 2025 144,211 Millions of Dollars 143,975 Millions of Dollars 148,479 Millions of Dollars Mil. of $
line 46
Exchange-traded funds 		Q2 2025 1,973,017 Millions of Dollars 1,883,282 Millions of Dollars 1,588,280 Millions of Dollars Mil. of $
line 47
Government-sponsored enterprises 		Q2 2025 570,692 Millions of Dollars 535,448 Millions of Dollars 464,677 Millions of Dollars Mil. of $
line 48
ABS issuers 		Q2 2025 24,827 Millions of Dollars 26,677 Millions of Dollars 26,860 Millions of Dollars Mil. of $
line 49
Finance companies 		Q2 2025 21,201 Millions of Dollars 21,234 Millions of Dollars 37,233 Millions of Dollars Mil. of $
line 50
REITs 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 51
Brokers and dealers 		Q2 2025 1,279,298 Millions of Dollars 1,172,947 Millions of Dollars 963,214 Millions of Dollars Mil. of $
line 52
Holding companies 		Q2 2025 175,378 Millions of Dollars 182,444 Millions of Dollars 173,661 Millions of Dollars Mil. of $
line 53
Funding corporations 		Q2 2025 420,049 Millions of Dollars 352,613 Millions of Dollars 295,122 Millions of Dollars Mil. of $
line 54
Rest of the world 		Q2 2025 15,374,136 Millions of Dollars 15,087,808 Millions of Dollars 13,969,388 Millions of Dollars Mil. of $
line 55
Discrepancy 		Q2 2025 3,040,826 Millions of Dollars 3,353,529 Millions of Dollars 4,412,315 Millions of Dollars Mil. of $
   

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