Quarterly

L.107 State and Local Governments

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/%
For questions on FRED functionality, please contact: https://fred.stlouisfed.org/contactus/

   

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    Q4 1945    
 
 
    Q3 2025
Line Name Period Value Preceding
Period 		Year Ago
from Period 		Units
line 1
Total financial assets 		Q3 2025 5,161,778 Millions of U.S. Dollars 5,087,405 Millions of U.S. Dollars 4,970,174 Millions of U.S. Dollars Mil. of U.S. $
line 2
Checkable deposits and currency 		Q3 2025 390,340 Millions of U.S. Dollars 392,082 Millions of U.S. Dollars 367,169 Millions of U.S. Dollars Mil. of U.S. $
line 3
Time and savings deposits 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 4
Money market fund shares 		Q3 2025 87,550 Millions of U.S. Dollars 83,988 Millions of U.S. Dollars 77,124 Millions of U.S. Dollars Mil. of U.S. $
line 5
Security repurchase agreements 		Q3 2025 236,460 Millions of U.S. Dollars 230,195 Millions of U.S. Dollars 226,232 Millions of U.S. Dollars Mil. of U.S. $
line 6
Debt securities 		Q3 2025 2,687,256 Millions of U.S. Dollars 2,634,938 Millions of U.S. Dollars 2,562,519 Millions of U.S. Dollars Mil. of U.S. $
line 7
Open market paper 		Q3 2025 290,528 Millions of U.S. Dollars 301,712 Millions of U.S. Dollars 269,462 Millions of U.S. Dollars Mil. of U.S. $
line 8
Treasury securities 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 9
Agency- and GSE-backed securities 		Q3 2025 455,489 Millions of U.S. Dollars 443,421 Millions of U.S. Dollars 435,787 Millions of U.S. Dollars Mil. of U.S. $
line 10
Municipal securities 		Q3 2025 49,076 Millions of U.S. Dollars 47,776 Millions of U.S. Dollars 46,953 Millions of U.S. Dollars Mil. of U.S. $
line 11
Corporate and foreign bonds 		Q3 2025 319,822 Millions of U.S. Dollars 311,348 Millions of U.S. Dollars 305,988 Millions of U.S. Dollars Mil. of U.S. $
line 12
Loans (mortgages) 		Q3 2025 233,672 Millions of U.S. Dollars 233,672 Millions of U.S. Dollars 232,342 Millions of U.S. Dollars Mil. of U.S. $
line 13
Corporate equities 		Q3 2025 146,171 Millions of U.S. Dollars 142,299 Millions of U.S. Dollars 139,849 Millions of U.S. Dollars Mil. of U.S. $
line 14
Mutual fund shares 		Q3 2025 70,153 Millions of U.S. Dollars 68,295 Millions of U.S. Dollars 67,119 Millions of U.S. Dollars Mil. of U.S. $
line 15
Trade receivables 		Q3 2025 365,259 Millions of U.S. Dollars 356,069 Millions of U.S. Dollars 333,240 Millions of U.S. Dollars Mil. of U.S. $
line 16
Taxes receivable 		Q3 2025 312,093 Millions of U.S. Dollars 308,983 Millions of U.S. Dollars 301,638 Millions of U.S. Dollars Mil. of U.S. $
line 17
Miscellaneous assets 		Q3 2025 191,856 Millions of U.S. Dollars 186,773 Millions of U.S. Dollars 183,557 Millions of U.S. Dollars Mil. of U.S. $
line 18
Total liabilities 		Q3 2025 7,817,014 Millions of U.S. Dollars 7,930,813 Millions of U.S. Dollars 7,786,194 Millions of U.S. Dollars Mil. of U.S. $
line 19
Debt securities (municipal securities) 		Q3 2025 3,488,723 Millions of U.S. Dollars 3,443,397 Millions of U.S. Dollars 3,347,632 Millions of U.S. Dollars Mil. of U.S. $
line 20
Short-term 		Q3 2025 36,494 Millions of U.S. Dollars 31,821 Millions of U.S. Dollars 32,145 Millions of U.S. Dollars Mil. of U.S. $
line 21
Long-term 		Q3 2025 3,452,229 Millions of U.S. Dollars 3,411,576 Millions of U.S. Dollars 3,315,487 Millions of U.S. Dollars Mil. of U.S. $
line 22
Loans (U.S. government loans) 		Q3 2025 26,208 Millions of U.S. Dollars 26,006 Millions of U.S. Dollars 25,004 Millions of U.S. Dollars Mil. of U.S. $
line 23
Trade payables 		Q3 2025 1,429,211 Millions of U.S. Dollars 1,409,945 Millions of U.S. Dollars 1,353,888 Millions of U.S. Dollars Mil. of U.S. $
line 24
Claims of pension fund on sponsor 		Q3 2025 2,755,926 Millions of U.S. Dollars 2,936,016 Millions of U.S. Dollars 2,950,054 Millions of U.S. Dollars Mil. of U.S. $
   

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