Quarterly

B.1 Derivation of U.S. Net Wealth

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    
 
 
    Q3 2025
Line Name Period Value Preceding
Period 		Year Ago
from Period 		Units
line 1
U.S. net wealth 		Q3 2025 166,797,118 Millions of U.S. Dollars 161,591,658 Millions of U.S. Dollars 155,465,200 Millions of U.S. Dollars Mil. of U.S. $
line 2
Households' direct holdings of nonfinancial assets 		Q3 2025 61,596,678 Millions of U.S. Dollars 61,743,152 Millions of U.S. Dollars 60,321,812 Millions of U.S. Dollars Mil. of U.S. $
line 3
Real estate 		Q3 2025 52,056,885 Millions of U.S. Dollars 52,344,309 Millions of U.S. Dollars 51,361,144 Millions of U.S. Dollars Mil. of U.S. $
line 4
Equipment (nonprofits) 		Q3 2025 716,207 Millions of U.S. Dollars 699,830 Millions of U.S. Dollars 676,808 Millions of U.S. Dollars Mil. of U.S. $
line 5
Intellectual property products (nonprofits) 		Q3 2025 289,603 Millions of U.S. Dollars 282,076 Millions of U.S. Dollars 270,479 Millions of U.S. Dollars Mil. of U.S. $
line 6
Consumer durable goods 		Q3 2025 8,533,983 Millions of U.S. Dollars 8,416,937 Millions of U.S. Dollars 8,013,381 Millions of U.S. Dollars Mil. of U.S. $
line 7
Nonfin. noncorporate businesses nonfinancial assets 		Q3 2025 19,163,345 Millions of U.S. Dollars 19,031,409 Millions of U.S. Dollars 18,901,881 Millions of U.S. Dollars Mil. of U.S. $
line 8
Real estate 		Q3 2025 17,098,614 Millions of U.S. Dollars 17,024,935 Millions of U.S. Dollars 16,942,818 Millions of U.S. Dollars Mil. of U.S. $
line 9
Equipment 		Q3 2025 1,164,543 Millions of U.S. Dollars 1,156,383 Millions of U.S. Dollars 1,157,375 Millions of U.S. Dollars Mil. of U.S. $
line 10
Intellectual property products 		Q3 2025 499,992 Millions of U.S. Dollars 492,039 Millions of U.S. Dollars 472,313 Millions of U.S. Dollars Mil. of U.S. $
line 11
Inventories 		Q3 2025 400,196 Millions of U.S. Dollars 358,052 Millions of U.S. Dollars 329,375 Millions of U.S. Dollars Mil. of U.S. $
line 12
Fin. noncorporate businesses nonfinancial assets 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 13
Market value of domestic corporations 		Q3 2025 93,938,121 Millions of U.S. Dollars 86,223,957 Millions of U.S. Dollars 79,768,229 Millions of U.S. Dollars Mil. of U.S. $
line 14
Nonfinancial corporate equity 		Q3 2025 71,631,310 Millions of U.S. Dollars 65,483,837 Millions of U.S. Dollars 61,374,744 Millions of U.S. Dollars Mil. of U.S. $
line 15
Financial corporate equity 		Q3 2025 22,306,811 Millions of U.S. Dollars 20,740,120 Millions of U.S. Dollars 18,393,485 Millions of U.S. Dollars Mil. of U.S. $
line 16
Federal government nonfinancial assets 		Q3 2025 4,873,674 Millions of U.S. Dollars 4,831,045 Millions of U.S. Dollars 4,672,562 Millions of U.S. Dollars Mil. of U.S. $
line 17
Structures 		Q3 2025 2,264,116 Millions of U.S. Dollars 2,245,351 Millions of U.S. Dollars 2,195,504 Millions of U.S. Dollars Mil. of U.S. $
line 18
Equipment 		Q3 2025 1,058,880 Millions of U.S. Dollars 1,050,887 Millions of U.S. Dollars 1,010,203 Millions of U.S. Dollars Mil. of U.S. $
line 19
Intellectual property products 		Q3 2025 1,550,678 Millions of U.S. Dollars 1,534,807 Millions of U.S. Dollars 1,466,855 Millions of U.S. Dollars Mil. of U.S. $
line 20
State and local governments nonfinancial assets 		Q3 2025 17,112,020 Millions of U.S. Dollars 16,946,489 Millions of U.S. Dollars 16,438,258 Millions of U.S. Dollars Mil. of U.S. $
line 21
Structures 		Q3 2025 16,561,369 Millions of U.S. Dollars 16,403,373 Millions of U.S. Dollars 15,899,591 Millions of U.S. Dollars Mil. of U.S. $
line 22
Equipment 		Q3 2025 322,780 Millions of U.S. Dollars 320,832 Millions of U.S. Dollars 324,662 Millions of U.S. Dollars Mil. of U.S. $
line 23
Intellectual property products 		Q3 2025 227,871 Millions of U.S. Dollars 222,284 Millions of U.S. Dollars 214,005 Millions of U.S. Dollars Mil. of U.S. $
line 24
Net U.S. financial claims on the rest of the world 		Q3 2025 -26,273,147 Millions of U.S. Dollars -24,325,558 Millions of U.S. Dollars -23,144,617 Millions of U.S. Dollars Mil. of U.S. $
line 25
U.S. financial claims on the rest of the world 		Q3 2025 37,847,459 Millions of U.S. Dollars 36,212,990 Millions of U.S. Dollars 33,315,110 Millions of U.S. Dollars Mil. of U.S. $
line 26
U.S. holdings of foreign corporate equities 		Q3 2025 14,516,454 Millions of U.S. Dollars 13,669,117 Millions of U.S. Dollars 12,616,026 Millions of U.S. Dollars Mil. of U.S. $
line 27
Other U.S. financial claims 		Q3 2025 11,417,766 Millions of U.S. Dollars 11,244,482 Millions of U.S. Dollars 10,224,700 Millions of U.S. Dollars Mil. of U.S. $
line 28
Less: Foreign financial claims on U.S. 		Q3 2025 64,120,607 Millions of U.S. Dollars 60,538,548 Millions of U.S. Dollars 56,459,727 Millions of U.S. Dollars Mil. of U.S. $
line 29
Foreign holdings of U.S. corporate equities 		Q3 2025 19,592,345 Millions of U.S. Dollars 18,110,264 Millions of U.S. Dollars 16,274,994 Millions of U.S. Dollars Mil. of U.S. $
line 30
Other foreign financial claims 		Q3 2025 44,528,262 Millions of U.S. Dollars 42,428,284 Millions of U.S. Dollars 40,184,733 Millions of U.S. Dollars Mil. of U.S. $
Memo:
line 31
A. U.S. net wealth (line 1) 		Q3 2025 166,797,118 Millions of U.S. Dollars 161,591,658 Millions of U.S. Dollars 155,465,200 Millions of U.S. Dollars Mil. of U.S. $
line 32
Change in U.S. net wealth 		Q3 2025 5,205,460 Millions of U.S. Dollars 7,296,023 Millions of U.S. Dollars 2,120,374 Millions of U.S. Dollars Mil. of U.S. $
line 33
Percent change in U.S. net wealth 		Q3 2025 3.22137 Percent 4.72860 Percent 1.38275 Percent %
line 34
B. Household net worth 		Q3 2025 181,631,598 Millions of U.S. Dollars 175,567,611 Millions of U.S. Dollars 168,719,186 Millions of U.S. Dollars Mil. of U.S. $
line 35
Change in household net worth 		Q3 2025 6,063,987 Millions of U.S. Dollars 7,153,120 Millions of U.S. Dollars 4,057,940 Millions of U.S. Dollars Mil. of U.S. $
line 36
Percent change in household net worth 		Q3 2025 3.45393 Percent 4.24733 Percent 2.46442 Percent %
   

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