Quarterly

F.105 General Government

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 1946    
 
 
    Q3 2025
Line Name Period Value Preceding
Period 		Year Ago
from Period 		Units
line 1
Current receipts: NIPA basis 		Q3 2025 9,738,694 Millions of U.S. Dollars 9,527,301 Millions of U.S. Dollars 9,028,960 Millions of U.S. Dollars Mil. of U.S. $
line 2
Personal current taxes 		Q3 2025 3,254,447 Millions of U.S. Dollars 3,200,922 Millions of U.S. Dollars 3,019,086 Millions of U.S. Dollars Mil. of U.S. $
line 3
Taxes on production and imports 		Q3 2025 2,289,610 Millions of U.S. Dollars 2,203,114 Millions of U.S. Dollars 1,965,861 Millions of U.S. Dollars Mil. of U.S. $
line 4
Taxes on corporate income 		Q3 2025 675,226 Millions of U.S. Dollars 652,692 Millions of U.S. Dollars 660,692 Millions of U.S. Dollars Mil. of U.S. $
line 5
Taxes from the rest of the world 		Q3 2025 40,544 Millions of U.S. Dollars 42,809 Millions of U.S. Dollars 38,035 Millions of U.S. Dollars Mil. of U.S. $
line 6
Contributions for govt. social insurance 		Q3 2025 2,027,672 Millions of U.S. Dollars 2,011,835 Millions of U.S. Dollars 1,941,836 Millions of U.S. Dollars Mil. of U.S. $
line 7
Income receipts on assets 		Q3 2025 219,705 Millions of U.S. Dollars 214,956 Millions of U.S. Dollars 199,021 Millions of U.S. Dollars Mil. of U.S. $
line 8
Current transfer receipts 		Q3 2025 1,284,382 Millions of U.S. Dollars 1,253,403 Millions of U.S. Dollars 1,250,598 Millions of U.S. Dollars Mil. of U.S. $
line 9
Current surplus of government enterprises 		Q3 2025 -52,892 Millions of U.S. Dollars -52,430 Millions of U.S. Dollars -46,169 Millions of U.S. Dollars Mil. of U.S. $
line 10
Current expenditures: NIPA basis 		Q3 2025 11,789,869 Millions of U.S. Dollars 11,608,473 Millions of U.S. Dollars 11,164,947 Millions of U.S. Dollars Mil. of U.S. $
line 11
Consumption expenditures 		Q3 2025 4,207,026 Millions of U.S. Dollars 4,131,969 Millions of U.S. Dollars 4,021,875 Millions of U.S. Dollars Mil. of U.S. $
line 12
Government social benefits 		Q3 2025 4,939,948 Millions of U.S. Dollars 4,890,252 Millions of U.S. Dollars 4,527,867 Millions of U.S. Dollars Mil. of U.S. $
line 13
Other current transfer payments 		Q3 2025 1,050,323 Millions of U.S. Dollars 1,033,279 Millions of U.S. Dollars 1,099,567 Millions of U.S. Dollars Mil. of U.S. $
line 14
Interest payments 		Q3 2025 1,468,409 Millions of U.S. Dollars 1,433,003 Millions of U.S. Dollars 1,422,823 Millions of U.S. Dollars Mil. of U.S. $
line 15
Subsidies 		Q3 2025 124,163 Millions of U.S. Dollars 119,970 Millions of U.S. Dollars 92,815 Millions of U.S. Dollars Mil. of U.S. $
line 16
Net saving: NIPA basis 		Q3 2025 -2,051,175 Millions of U.S. Dollars -2,081,172 Millions of U.S. Dollars -2,135,987 Millions of U.S. Dollars Mil. of U.S. $
line 17
+ Consumption of fixed capital 		Q3 2025 854,487 Millions of U.S. Dollars 840,641 Millions of U.S. Dollars 808,893 Millions of U.S. Dollars Mil. of U.S. $
line 18
- insurance and pension fund reserves 		Q3 2025 -603 Millions of U.S. Dollars -1,786 Millions of U.S. Dollars -711 Millions of U.S. Dollars Mil. of U.S. $
line 19
- Net capital transfers 		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 20
= Gross savings less Net capital transfers 		Q3 2025 -1,175,924 Millions of U.S. Dollars -1,221,206 Millions of U.S. Dollars -1,405,679 Millions of U.S. Dollars Mil. of U.S. $
line 21
Gross investment 		Q3 2025 -1,458,955 Millions of U.S. Dollars -227,214 Millions of U.S. Dollars -1,378,433 Millions of U.S. Dollars Mil. of U.S. $
line 22
Fixed investment 		Q3 2025 1,116,073 Millions of U.S. Dollars 1,105,001 Millions of U.S. Dollars 1,065,047 Millions of U.S. Dollars Mil. of U.S. $
line 23
Nonproduced nonfinancial assets 		Q3 2025 22,475 Millions of U.S. Dollars 22,248 Millions of U.S. Dollars 20,784 Millions of U.S. Dollars Mil. of U.S. $
line 24
Net lending (+) or net borrowing (-) 		Q3 2025 -2,597,503 Millions of U.S. Dollars -1,354,463 Millions of U.S. Dollars -2,464,264 Millions of U.S. Dollars Mil. of U.S. $
line 25
Net acquisition of financial assets 		Q3 2025 2,123,003 Millions of U.S. Dollars 388,185 Millions of U.S. Dollars 685,045 Millions of U.S. Dollars Mil. of U.S. $
line 26
U.S. official reserve assets 		Q3 2025 -3,448 Millions of U.S. Dollars 2,060 Millions of U.S. Dollars -348 Millions of U.S. Dollars Mil. of U.S. $
line 27
Checkable deposits and currency 		Q3 2025 1,718,124 Millions of U.S. Dollars 200,704 Millions of U.S. Dollars 435,320 Millions of U.S. Dollars Mil. of U.S. $
line 28
Time and savings deposits 		Q3 2025 -47,676 Millions of U.S. Dollars -4,740 Millions of U.S. Dollars -21,041 Millions of U.S. Dollars Mil. of U.S. $
line 29
Money market fund shares 		Q3 2025 14,248 Millions of U.S. Dollars 2,332 Millions of U.S. Dollars 14,220 Millions of U.S. Dollars Mil. of U.S. $
line 30
Security repurchase agreements 		Q3 2025 25,060 Millions of U.S. Dollars 25,988 Millions of U.S. Dollars 39,188 Millions of U.S. Dollars Mil. of U.S. $
line 31
Debt securities 		Q3 2025 118,595 Millions of U.S. Dollars 293,012 Millions of U.S. Dollars 52,868 Millions of U.S. Dollars Mil. of U.S. $
line 32
Open market paper 		Q3 2025 -44,736 Millions of U.S. Dollars 56,436 Millions of U.S. Dollars 21,404 Millions of U.S. Dollars Mil. of U.S. $
line 33
Treasury securities 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 34
Agency- and GSE-backed securities 		Q3 2025 38,688 Millions of U.S. Dollars 43,308 Millions of U.S. Dollars 25,400 Millions of U.S. Dollars Mil. of U.S. $
line 35
Municipal securities 		Q3 2025 868 Millions of U.S. Dollars 7,044 Millions of U.S. Dollars 4,400 Millions of U.S. Dollars Mil. of U.S. $
line 36
Corporate and foreign bonds 		Q3 2025 14,183 Millions of U.S. Dollars 25,044 Millions of U.S. Dollars -3,008 Millions of U.S. Dollars Mil. of U.S. $
line 37
Loans 		Q3 2025 64,516 Millions of U.S. Dollars 139,920 Millions of U.S. Dollars 153,752 Millions of U.S. Dollars Mil. of U.S. $
line 38
Mortgages 		Q3 2025 9,816 Millions of U.S. Dollars 9,512 Millions of U.S. Dollars 10,172 Millions of U.S. Dollars Mil. of U.S. $
line 39
Consumer credit 		Q3 2025 71,255 Millions of U.S. Dollars 86,460 Millions of U.S. Dollars 82,244 Millions of U.S. Dollars Mil. of U.S. $
line 40
Other loans and advances 		Q3 2025 -4,784 Millions of U.S. Dollars -4,784 Millions of U.S. Dollars 16,336 Millions of U.S. Dollars Mil. of U.S. $
line 41
Corporate equities 		Q3 2025 7,792 Millions of U.S. Dollars -43,216 Millions of U.S. Dollars -6,852 Millions of U.S. Dollars Mil. of U.S. $
line 42
Mutual fund shares 		Q3 2025 -6,620 Millions of U.S. Dollars -12,972 Millions of U.S. Dollars -1,892 Millions of U.S. Dollars Mil. of U.S. $
line 43
Trade receivables 		Q3 2025 18,723 Millions of U.S. Dollars 49,528 Millions of U.S. Dollars 43,916 Millions of U.S. Dollars Mil. of U.S. $
line 44
Taxes receivable 		Q3 2025 170,529 Millions of U.S. Dollars -295,875 Millions of U.S. Dollars -73,230 Millions of U.S. Dollars Mil. of U.S. $
line 45
Miscellaneous assets 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 46
Net increase in liabilities 		Q3 2025 4,720,506 Millions of U.S. Dollars 1,742,648 Millions of U.S. Dollars 3,149,309 Millions of U.S. Dollars Mil. of U.S. $
line 47
SDR allocations 		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 48
SDR certificates 		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 49
Treasury currency 		Q3 2025 -1,972 Millions of U.S. Dollars 728 Millions of U.S. Dollars 428 Millions of U.S. Dollars Mil. of U.S. $
line 50
Debt securities 		Q3 2025 4,183,825 Millions of U.S. Dollars 1,207,656 Millions of U.S. Dollars 2,662,508 Millions of U.S. Dollars Mil. of U.S. $
line 51
Treasury securities 		Q3 2025 3,988,703 Millions of U.S. Dollars 921,844 Millions of U.S. Dollars 2,523,920 Millions of U.S. Dollars Mil. of U.S. $
line 52
Budget agency securities 		Q3 2025 3,712 Millions of U.S. Dollars 1,780 Millions of U.S. Dollars 172 Millions of U.S. Dollars Mil. of U.S. $
line 53
Municipal securities 		Q3 2025 191,411 Millions of U.S. Dollars 284,032 Millions of U.S. Dollars 138,416 Millions of U.S. Dollars Mil. of U.S. $
line 54
Loans 		Q3 2025 973,620 Millions of U.S. Dollars -436,733 Millions of U.S. Dollars 306,246 Millions of U.S. Dollars Mil. of U.S. $
line 55
Multifamily residential mortgages 		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 56
Other loans and advances 		Q3 2025 967,632 Millions of U.S. Dollars -451,629 Millions of U.S. Dollars 312,946 Millions of U.S. Dollars Mil. of U.S. $
line 57
Trade payables 		Q3 2025 144,953 Millions of U.S. Dollars 134,976 Millions of U.S. Dollars 108,924 Millions of U.S. Dollars Mil. of U.S. $
line 58
Insurance reserves 		Q3 2025 4,924 Millions of U.S. Dollars 348 Millions of U.S. Dollars 4,224 Millions of U.S. Dollars Mil. of U.S. $
line 59
Miscellaneous liabilities 		Q3 2025 -584,845 Millions of U.S. Dollars 835,673 Millions of U.S. Dollars 66,979 Millions of U.S. Dollars Mil. of U.S. $
line 60
Discrepancy 		Q3 2025 283,030 Millions of U.S. Dollars -993,992 Millions of U.S. Dollars -27,246 Millions of U.S. Dollars Mil. of U.S. $
Memo:
line 61
Net acquisition of financial assets (consolidated) 		Q3 2025 2,023,506 Millions of U.S. Dollars 170,421 Millions of U.S. Dollars 630,405 Millions of U.S. Dollars Mil. of U.S. $
line 62
Net increase in liabilities (consolidated) 		Q3 2025 4,621,008 Millions of U.S. Dollars 1,524,884 Millions of U.S. Dollars 3,094,669 Millions of U.S. Dollars Mil. of U.S. $
   

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