Federal Reserve Economic Data

Quarterly

B.104 Balance Sheet of Nonfinancial Noncorporate 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
Assets 		Q2 2025 28,284.514 Billions of Dollars 28,192.709 Billions of Dollars 27,880.095 Billions of Dollars Bil. of $
line 2
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 3
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 4
Residential 		Q2 2025 10,456.342 Billions of Dollars 10,340.813 Billions of Dollars 10,204.142 Billions of Dollars Bil. of $
line 5
Nonresidential 		Q2 2025 6,552.044 Billions of Dollars 6,639.005 Billions of Dollars 6,684.778 Billions of Dollars Bil. of $
line 6
Equipment 		Q2 2025 1,111,479 Millions of Dollars 1,106,930 Millions of Dollars 1,121,774 Millions of Dollars Mil. of $
line 7
Residential 		Q2 2025 93,747 Millions of Dollars 90,150 Millions of Dollars 90,030 Millions of Dollars Mil. of $
line 8
Nonresidential 		Q2 2025 1,017,732 Millions of Dollars 1,016,780 Millions of Dollars 1,031,744 Millions of Dollars Mil. of $
line 9
Intellectual property products 		Q2 2025 493,454 Millions of Dollars 486,659 Millions of Dollars 464,651 Millions of Dollars Mil. of $
line 10
Inventories 		Q2 2025 354,888 Millions of Dollars 342,375 Millions of Dollars 324,749 Millions of Dollars Mil. of $
line 11
Financial assets 		Q2 2025 9,316.307 Billions of Dollars 9,276.927 Billions of Dollars 9,080.001 Billions of Dollars Bil. of $
line 12
Checkable deposits and currency 		Q2 2025 532.590 Billions of Dollars 529.638 Billions of Dollars 516.067 Billions of Dollars Bil. of $
line 13
Time and savings deposits 		Q2 2025 1,514.497 Billions of Dollars 1,508.512 Billions of Dollars 1,477.929 Billions of Dollars Bil. of $
line 14
Money market fund shares 		Q2 2025 143.532 Billions of Dollars 142.965 Billions of Dollars 140.067 Billions of Dollars Bil. of $
line 15
Debt securities 		Q2 2025 90,955 Millions of Dollars 90,619 Millions of Dollars 88,755 Millions of Dollars Mil. of $
line 16
Treasury securities 		Q2 2025 87.530 Billions of Dollars 87.185 Billions of Dollars 85.413 Billions of Dollars Bil. of $
line 17
Municipal securities 		Q2 2025 3.425 Billions of Dollars 3.434 Billions of Dollars 3.342 Billions of Dollars Bil. of $
line 18
Loans 		Q2 2025 57,122 Millions of Dollars 56,896 Millions of Dollars 55,743 Millions of Dollars Mil. of $
line 19
Mortgages 		Q2 2025 57.122 Billions of Dollars 56.896 Billions of Dollars 55.743 Billions of Dollars Bil. of $
line 20
Consumer credit 		Q2 2025 0.000 Billions of Dollars 0.000 Billions of Dollars 0.000 Billions of Dollars Bil. of $
line 21
Trade receivables 		Q2 2025 1,233.899 Billions of Dollars 1,229.023 Billions of Dollars 1,204.106 Billions of Dollars Bil. of $
line 22
Miscellaneous assets 		Q2 2025 5,724.613 Billions of Dollars 5,700.450 Billions of Dollars 5,578.615 Billions of Dollars Bil. of $
line 23
Insurance receivables 		Q2 2025 200.681 Billions of Dollars 196.574 Billions of Dollars 183.115 Billions of Dollars Bil. of $
line 24
Equity investment in GSEs 		Q2 2025 19.099 Billions of Dollars 18.824 Billions of Dollars 18.719 Billions of Dollars Bil. of $
line 25
Other 		Q2 2025 5,523.932 Billions of Dollars 5,503.876 Billions of Dollars 5,395.500 Billions of Dollars Bil. of $
line 26
Liabilities 		Q2 2025 12,802.999 Billions of Dollars 12,707.470 Billions of Dollars 12,368.454 Billions of Dollars Bil. of $
line 27
Loans 		Q2 2025 7,897,341 Millions of Dollars 7,839,571 Millions of Dollars 7,681,217 Millions of Dollars Mil. of $
line 28
Depository institution loans n.e.c. 		Q2 2025 1,731.910 Billions of Dollars 1,719.556 Billions of Dollars 1,703.121 Billions of Dollars Bil. of $
line 29
Other loans and advances 		Q2 2025 495.562 Billions of Dollars 495.699 Billions of Dollars 477.246 Billions of Dollars Bil. of $
line 30
Mortgages 		Q2 2025 5,669.869 Billions of Dollars 5,624.316 Billions of Dollars 5,500.850 Billions of Dollars Bil. of $
line 31
Trade payables 		Q2 2025 892.832 Billions of Dollars 886.562 Billions of Dollars 868.170 Billions of Dollars Bil. of $
line 32
Taxes payable 		Q2 2025 253.601 Billions of Dollars 251.955 Billions of Dollars 243.544 Billions of Dollars Bil. of $
line 33
Foreign direct investment in U.S. 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 34
Miscellaneous liabilities 		Q2 2025 3,755,925 Millions of Dollars 3,726,071 Millions of Dollars 3,571,807 Millions of Dollars Mil. of $
line 35
Net worth 		Q2 2025 15,371,230 Millions of Dollars 15,371,127 Millions of Dollars 15,396,950 Millions of Dollars Mil. of $
Memo:
Replacement-cost value of structures:
line 36
Residential 		Q2 2025 5,621.491 Billions of Dollars 5,601.914 Billions of Dollars 5,452.891 Billions of Dollars Bil. of $
line 37
Nonresidential 		Q2 2025 3,058.382 Billions of Dollars 3,078.348 Billions of Dollars 3,090.202 Billions of Dollars Bil. of $
line 38
Debt/net worth (percent) (line 27/line 35) 		Q2 2025 51.01142 Percent 50.62609 Percent 49.51905 Percent %
   

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