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/.

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
Assets 		Q4 2025 28,806,105 Millions of U.S. Dollars 28,686,833 Millions of U.S. Dollars 28,251,608 Millions of U.S. Dollars Mil. of U.S. $
line 2
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 3
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 4
Residential 		Q4 2025 10,394,988 Millions of U.S. Dollars 10,383,770 Millions of U.S. Dollars 10,324,637 Millions of U.S. Dollars Mil. of U.S. $
line 5
Nonresidential 		Q4 2025 6,886,866 Millions of U.S. Dollars 6,857,821 Millions of U.S. Dollars 6,724,381 Millions of U.S. Dollars Mil. of U.S. $
line 6
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 7
Residential 		Q4 2025 95,125 Millions of U.S. Dollars 94,100 Millions of U.S. Dollars 89,946 Millions of U.S. Dollars Mil. of U.S. $
line 8
Nonresidential 		Q4 2025 1,072,371 Millions of U.S. Dollars 1,070,609 Millions of U.S. Dollars 1,071,798 Millions of U.S. Dollars Mil. of U.S. $
line 9
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 10
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 11
Financial assets 		Q4 2025 9,471,056 Millions of U.S. Dollars 9,380,248 Millions of U.S. Dollars 9,216,796 Millions of U.S. Dollars Mil. of U.S. $
line 12
Checkable deposits and currency 		Q4 2025 539,512 Millions of U.S. Dollars 534,583 Millions of U.S. Dollars 525,538 Millions of U.S. Dollars Mil. of U.S. $
line 13
Time and savings deposits 		Q4 2025 1,540,668 Millions of U.S. Dollars 1,525,803 Millions of U.S. Dollars 1,499,148 Millions of U.S. Dollars Mil. of U.S. $
line 14
Money market fund shares 		Q4 2025 146,013 Millions of U.S. Dollars 144,604 Millions of U.S. Dollars 142,078 Millions of U.S. Dollars Mil. of U.S. $
line 15
Debt securities 		Q4 2025 92,576 Millions of U.S. Dollars 91,677 Millions of U.S. Dollars 90,048 Millions of U.S. Dollars Mil. of U.S. $
line 16
Treasury securities 		Q4 2025 89,058 Millions of U.S. Dollars 88,199 Millions of U.S. Dollars 86,658 Millions of U.S. Dollars Mil. of U.S. $
line 17
Municipal securities 		Q4 2025 3,518 Millions of U.S. Dollars 3,478 Millions of U.S. Dollars 3,390 Millions of U.S. Dollars Mil. of U.S. $
line 18
Loans 		Q4 2025 58,108 Millions of U.S. Dollars 57,548 Millions of U.S. Dollars 56,543 Millions of U.S. Dollars Mil. of U.S. $
line 19
Mortgages 		Q4 2025 58,108 Millions of U.S. Dollars 57,548 Millions of U.S. Dollars 56,543 Millions of U.S. Dollars Mil. of U.S. $
line 20
Consumer credit 		Q4 2025 0 Millions of U.S. Dollars 0 Millions of U.S. Dollars 0 Millions of U.S. Dollars Mil. of U.S. $
line 21
Trade receivables 		Q4 2025 1,255,221 Millions of U.S. Dollars 1,243,110 Millions of U.S. Dollars 1,221,394 Millions of U.S. Dollars Mil. of U.S. $
line 22
Miscellaneous assets 		Q4 2025 5,819,204 Millions of U.S. Dollars 5,763,593 Millions of U.S. Dollars 5,662,912 Millions of U.S. Dollars Mil. of U.S. $
line 23
Insurance receivables 		Q4 2025 200,075 Millions of U.S. Dollars 199,645 Millions of U.S. Dollars 191,560 Millions of U.S. Dollars Mil. of U.S. $
line 24
Equity investment in GSEs 		Q4 2025 19,754 Millions of U.S. Dollars 19,330 Millions of U.S. Dollars 19,135 Millions of U.S. Dollars Mil. of U.S. $
line 25
Other 		Q4 2025 5,619,129 Millions of U.S. Dollars 5,563,948 Millions of U.S. Dollars 5,471,352 Millions of U.S. Dollars Mil. of U.S. $
line 26
Liabilities 		Q4 2025 12,845,735 Millions of U.S. Dollars 12,696,715 Millions of U.S. Dollars 12,434,245 Millions of U.S. Dollars Mil. of U.S. $
line 27
Loans 		Q4 2025 8,026,667 Millions of U.S. Dollars 7,915,671 Millions of U.S. Dollars 7,763,151 Millions of U.S. Dollars Mil. of U.S. $
line 28
Depository institution loans n.e.c. 		Q4 2025 1,731,914 Millions of U.S. Dollars 1,723,514 Millions of U.S. Dollars 1,711,985 Millions of U.S. Dollars Mil. of U.S. $
line 29
Other loans and advances 		Q4 2025 536,255 Millions of U.S. Dollars 501,439 Millions of U.S. Dollars 498,017 Millions of U.S. Dollars Mil. of U.S. $
line 30
Mortgages 		Q4 2025 5,758,498 Millions of U.S. Dollars 5,690,718 Millions of U.S. Dollars 5,553,149 Millions of U.S. Dollars Mil. of U.S. $
line 31
Trade payables 		Q4 2025 914,862 Millions of U.S. Dollars 910,203 Millions of U.S. Dollars 882,567 Millions of U.S. Dollars Mil. of U.S. $
line 32
Taxes payable 		Q4 2025 247,801 Millions of U.S. Dollars 245,679 Millions of U.S. Dollars 240,418 Millions of U.S. Dollars Mil. of U.S. $
line 33
Foreign direct investment in U.S. 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 34
Miscellaneous liabilities 		Q4 2025 3,653,163 Millions of U.S. Dollars 3,621,963 Millions of U.S. Dollars 3,544,624 Millions of U.S. Dollars Mil. of U.S. $
line 35
Net worth 		Q4 2025 15,830,142 Millions of U.S. Dollars 15,857,781 Millions of U.S. Dollars 15,696,493 Millions of U.S. Dollars Mil. of U.S. $
Memo:
Replacement-cost value of structures:
line 36
Residential 		Q4 2025 5,751,529 Millions of U.S. Dollars 5,733,501 Millions of U.S. Dollars 5,575,573 Millions of U.S. Dollars Mil. of U.S. $
line 37
Nonresidential 		Q4 2025 3,454,000 Millions of U.S. Dollars 3,360,418 Millions of U.S. Dollars 3,187,906 Millions of U.S. Dollars Mil. of U.S. $
line 38
Debt/net worth (percent) (line 27/line 35) 		Q4 2025 50.29123 Percent 49.50352 Percent 49.07993 Percent %
   

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