Quarterly

F.5 Net Capital Transfers

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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Line	Name	Period	Value	Preceding Period	Year Ago from Period	Units
line 1	Capital transfers paid, by sector	Q3 2025	181,744 Millions of U.S. Dollars	179,031 Millions of U.S. Dollars	340,658 Millions of U.S. Dollars	Mil. of U.S. $
line 2	By private business	Q3 2025	9,352 Millions of U.S. Dollars	9,352 Millions of U.S. Dollars	60,272 Millions of U.S. Dollars	Mil. of U.S. $
line 3	Financial corporations	Q3 2025	2,338 Millions of U.S. Dollars	2,338 Millions of U.S. Dollars	46,772 Millions of U.S. Dollars	Mil. of U.S. $
line 4	Disaster-related insurance benefits	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	42,272 Millions of U.S. Dollars	Mil. of U.S. $
line 5	Other	Q3 2025	2,338 Millions of U.S. Dollars	2,338 Millions of U.S. Dollars	4,500 Millions of U.S. Dollars	Mil. of U.S. $
line 6	Nonfinancial corporations	Q3 2025	7,014 Millions of U.S. Dollars	7,014 Millions of U.S. Dollars	13,500 Millions of U.S. Dollars	Mil. of U.S. $
line 7	Noncorporate business	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	Mil. of U.S. $
line 8	By government	Q3 2025	134,478 Millions of U.S. Dollars	133,262 Millions of U.S. Dollars	238,576 Millions of U.S. Dollars	Mil. of U.S. $
line 9	Federal	Q3 2025	134,478 Millions of U.S. Dollars	133,262 Millions of U.S. Dollars	234,576 Millions of U.S. Dollars	Mil. of U.S. $
line 10	Investment grants to state and local govts.	Q3 2025	107,373 Millions of U.S. Dollars	105,032 Millions of U.S. Dollars	101,120 Millions of U.S. Dollars	Mil. of U.S. $
line 11	Disaster-related insurance benefits	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	22,000 Millions of U.S. Dollars	Mil. of U.S. $
line 12	Financial stabilization payments	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	Mil. of U.S. $
line 13	Other capital transfers paid to business	Q3 2025	3,712 Millions of U.S. Dollars	5,107 Millions of U.S. Dollars	47,465 Millions of U.S. Dollars	Mil. of U.S. $
line 14	Other capital transfers paid to persons	Q3 2025	17,904 Millions of U.S. Dollars	15,024 Millions of U.S. Dollars	48,633 Millions of U.S. Dollars	Mil. of U.S. $
line 15	Capital transfers paid to rest of world (net)	Q3 2025	5,489 Millions of U.S. Dollars	8,099 Millions of U.S. Dollars	15,358 Millions of U.S. Dollars	Mil. of U.S. $
line 16	State and local	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	4,000 Millions of U.S. Dollars	Mil. of U.S. $
line 17	Disaster-related insurance benefits	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	4,000 Millions of U.S. Dollars	Mil. of U.S. $
line 18	By persons	Q3 2025	37,914 Millions of U.S. Dollars	36,417 Millions of U.S. Dollars	36,071 Millions of U.S. Dollars	Mil. of U.S. $
line 19	Estate and gift taxes, federal	Q3 2025	29,556 Millions of U.S. Dollars	28,080 Millions of U.S. Dollars	28,272 Millions of U.S. Dollars	Mil. of U.S. $
line 20	Estate and gift taxes, state and local	Q3 2025	8,358 Millions of U.S. Dollars	8,337 Millions of U.S. Dollars	7,799 Millions of U.S. Dollars	Mil. of U.S. $
line 21	By the rest of the world	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	5,739 Millions of U.S. Dollars	Mil. of U.S. $
line 22	Disaster-related insurance benefits	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	5,739 Millions of U.S. Dollars	Mil. of U.S. $
line 23	Other	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	Mil. of U.S. $
line 24	Capital transfers received, by sector	Q3 2025	181,744 Millions of U.S. Dollars	179,031 Millions of U.S. Dollars	340,658 Millions of U.S. Dollars	Mil. of U.S. $
line 25	By private business	Q3 2025	3,712 Millions of U.S. Dollars	5,107 Millions of U.S. Dollars	77,754 Millions of U.S. Dollars	Mil. of U.S. $
line 26	Financial corporations	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	1,547 Millions of U.S. Dollars	Mil. of U.S. $
line 27	Disaster-related insurance benefits	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	1,547 Millions of U.S. Dollars	Mil. of U.S. $
line 28	Other	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	Mil. of U.S. $
line 29	Nonfinancial corporations	Q3 2025	3,712 Millions of U.S. Dollars	5,107 Millions of U.S. Dollars	61,389 Millions of U.S. Dollars	Mil. of U.S. $
line 30	Disaster-related insurance benefits	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	13,924 Millions of U.S. Dollars	Mil. of U.S. $
line 31	Other	Q3 2025	3,712 Millions of U.S. Dollars	5,107 Millions of U.S. Dollars	47,465 Millions of U.S. Dollars	Mil. of U.S. $
line 32	Noncorporate business	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	14,818 Millions of U.S. Dollars	Mil. of U.S. $
line 33	Disaster-related insurance benefits	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	14,818 Millions of U.S. Dollars	Mil. of U.S. $
line 34	Other	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	Mil. of U.S. $
line 35	By government	Q3 2025	154,639 Millions of U.S. Dollars	150,801 Millions of U.S. Dollars	159,280 Millions of U.S. Dollars	Mil. of U.S. $
line 36	Federal	Q3 2025	38,908 Millions of U.S. Dollars	37,432 Millions of U.S. Dollars	46,272 Millions of U.S. Dollars	Mil. of U.S. $
line 37	Estate and gift taxes paid by persons	Q3 2025	29,556 Millions of U.S. Dollars	28,080 Millions of U.S. Dollars	28,272 Millions of U.S. Dollars	Mil. of U.S. $
line 38	Other	Q3 2025	9,352 Millions of U.S. Dollars	9,352 Millions of U.S. Dollars	18,000 Millions of U.S. Dollars	Mil. of U.S. $
line 39	State and local	Q3 2025	115,731 Millions of U.S. Dollars	113,369 Millions of U.S. Dollars	113,008 Millions of U.S. Dollars	Mil. of U.S. $
line 40	Disaster-related insurance benefits	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	4,089 Millions of U.S. Dollars	Mil. of U.S. $
line 41	Estate and gift taxes paid by persons	Q3 2025	8,358 Millions of U.S. Dollars	8,337 Millions of U.S. Dollars	7,799 Millions of U.S. Dollars	Mil. of U.S. $
line 42	Investment grants paid by federal government	Q3 2025	107,373 Millions of U.S. Dollars	105,032 Millions of U.S. Dollars	101,120 Millions of U.S. Dollars	Mil. of U.S. $
line 43	Other	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	Mil. of U.S. $
line 44	By persons	Q3 2025	17,904 Millions of U.S. Dollars	15,024 Millions of U.S. Dollars	88,266 Millions of U.S. Dollars	Mil. of U.S. $
line 45	Disaster-related insurance benefits	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	39,633 Millions of U.S. Dollars	Mil. of U.S. $
line 46	Other	Q3 2025	17,904 Millions of U.S. Dollars	15,024 Millions of U.S. Dollars	48,633 Millions of U.S. Dollars	Mil. of U.S. $
line 47	By the rest of the world	Q3 2025	5,489 Millions of U.S. Dollars	8,099 Millions of U.S. Dollars	15,358 Millions of U.S. Dollars	Mil. of U.S. $
line 48	Capital transfers paid by U.S. government	Q3 2025	5,489 Millions of U.S. Dollars	8,099 Millions of U.S. Dollars	15,358 Millions of U.S. Dollars	Mil. of U.S. $
line 49	Disaster-related insurance benefits	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	Mil. of U.S. $
line 50	Other	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	Mil. of U.S. $
	Addenda: Net capital transfers paid by sector
line 51	By private business (lines 2-25)	Q3 2025	5,640 Millions of U.S. Dollars	4,245 Millions of U.S. Dollars	-17,482 Millions of U.S. Dollars	Mil. of U.S. $
line 52	Financial corporations (lines 3-26)	Q3 2025	2,338 Millions of U.S. Dollars	2,338 Millions of U.S. Dollars	45,225 Millions of U.S. Dollars	Mil. of U.S. $
line 53	Property-casualty insurance companies	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	40,725 Millions of U.S. Dollars	Mil. of U.S. $
line 54	Life insurance companies	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	Mil. of U.S. $
line 55	U.S.-chartered depository institutions	Q3 2025	2,338 Millions of U.S. Dollars	2,338 Millions of U.S. Dollars	4,500 Millions of U.S. Dollars	Mil. of U.S. $
line 56	Government-sponsored enterprises	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	Mil. of U.S. $
line 57	Finance companies	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	Mil. of U.S. $
line 58	Brokers and dealers	.	. Millions of Dollars	. Millions of Dollars	. Millions of Dollars	Mil. of $
line 59	Holding companies (GMAC)	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	Mil. of U.S. $
line 60	Funding corporations (AIG)	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	Mil. of U.S. $
line 61	Nonfinancial corporations (lines 6-29)	Q3 2025	3,302 Millions of U.S. Dollars	1,907 Millions of U.S. Dollars	-47,889 Millions of U.S. Dollars	Mil. of U.S. $
line 62	Noncorporate business (lines 7-32)	Q3 2025	0 Millions of U.S. Dollars	0 Millions of U.S. Dollars	-14,818 Millions of U.S. Dollars	Mil. of U.S. $
line 63	By government (lines 8-35)	Q3 2025	-20,161 Millions of U.S. Dollars	-17,539 Millions of U.S. Dollars	79,296 Millions of U.S. Dollars	Mil. of U.S. $
line 64	Federal (lines 9-36)	Q3 2025	95,570 Millions of U.S. Dollars	95,830 Millions of U.S. Dollars	188,304 Millions of U.S. Dollars	Mil. of U.S. $
line 65	State and local (lines 16-39)	Q3 2025	-115,731 Millions of U.S. Dollars	-113,369 Millions of U.S. Dollars	-109,008 Millions of U.S. Dollars	Mil. of U.S. $
line 66	By persons (lines 18-44)	Q3 2025	20,010 Millions of U.S. Dollars	21,393 Millions of U.S. Dollars	-52,195 Millions of U.S. Dollars	Mil. of U.S. $
line 67	By the rest of the world (lines 21-47)	Q3 2025	-5,489 Millions of U.S. Dollars	-8,099 Millions of U.S. Dollars	-9,619 Millions of U.S. Dollars	Mil. of U.S. $

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F.5 Net Capital Transfers

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