Quarterly

L.212 Municipal Securities

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/

   

Please select a date range

    Q4 1945    
 
 
    Q3 2025
Line Name Period Value Preceding
Period 		Year Ago
from Period 		Units
line 1
Total liabilities 		Q3 2025 4,364,242 Millions of U.S. Dollars 4,320,144 Millions of U.S. Dollars 4,200,537 Millions of U.S. Dollars Mil. of U.S. $
line 2
State and local governments 		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 3
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 4
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 5
Nonprofit organizations 		Q3 2025 227,245 Millions of U.S. Dollars 224,232 Millions of U.S. Dollars 215,598 Millions of U.S. Dollars Mil. of U.S. $
line 6
Nonfinancial corporate business (industrial revenue bonds) 		Q3 2025 648,274 Millions of U.S. Dollars 652,515 Millions of U.S. Dollars 637,307 Millions of U.S. Dollars Mil. of U.S. $
line 7
Total assets 		Q3 2025 4,221,136 Millions of U.S. Dollars 4,099,314 Millions of U.S. Dollars 4,136,145 Millions of U.S. Dollars Mil. of U.S. $
line 8
Household sector 		Q3 2025 2,038,292 Millions of U.S. Dollars 1,972,505 Millions of U.S. Dollars 1,976,426 Millions of U.S. Dollars Mil. of U.S. $
line 9
Nonfinancial corporate business 		Q3 2025 27,297 Millions of U.S. Dollars 26,479 Millions of U.S. Dollars 26,182 Millions of U.S. Dollars Mil. of U.S. $
line 10
Nonfinancial noncorporate business 		Q3 2025 3,452 Millions of U.S. Dollars 3,425 Millions of U.S. Dollars 3,364 Millions of U.S. Dollars Mil. of U.S. $
line 11
State and local governments 		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 12
U.S.-chartered depository institutions 		. . Millions of Dollars . Millions of Dollars . Millions of Dollars Mil. of $
line 13
Foreign banking offices in U.S. 		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 14
Banks in U.S.-affiliated areas 		Q3 2025 252 Millions of U.S. Dollars 122 Millions of U.S. Dollars 101 Millions of U.S. Dollars Mil. of U.S. $
line 15
Credit unions 		Q3 2025 9,938 Millions of U.S. Dollars 9,983 Millions of U.S. Dollars 10,787 Millions of U.S. Dollars Mil. of U.S. $
line 16
Property-casualty insurance companies 		Q3 2025 206,899 Millions of U.S. Dollars 201,952 Millions of U.S. Dollars 214,276 Millions of U.S. Dollars Mil. of U.S. $
line 17
Life insurance companies 		Q3 2025 172,096 Millions of U.S. Dollars 166,784 Millions of U.S. Dollars 178,762 Millions of U.S. Dollars Mil. of U.S. $
line 18
Federal government retirement funds 		Q3 2025 27 Millions of U.S. Dollars 26 Millions of U.S. Dollars 26 Millions of U.S. Dollars Mil. of U.S. $
line 19
State and local govt. retirement funds 		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 20
Money market funds 		Q3 2025 139,696 Millions of U.S. Dollars 140,683 Millions of U.S. Dollars 131,131 Millions of U.S. Dollars Mil. of U.S. $
line 21
Mutual funds 		Q3 2025 827,619 Millions of U.S. Dollars 805,371 Millions of U.S. Dollars 808,995 Millions of U.S. Dollars Mil. of U.S. $
line 22
Closed-end funds 		Q3 2025 70,098 Millions of U.S. Dollars 70,497 Millions of U.S. Dollars 78,093 Millions of U.S. Dollars Mil. of U.S. $
line 23
Exchange-traded funds 		Q3 2025 163,123 Millions of U.S. Dollars 149,826 Millions of U.S. Dollars 133,166 Millions of U.S. Dollars Mil. of U.S. $
line 24
Government-sponsored enterprises 		Q3 2025 2,459 Millions of U.S. Dollars 2,578 Millions of U.S. Dollars 2,252 Millions of U.S. Dollars Mil. of U.S. $
line 25
Brokers and dealers 		Q3 2025 18,318 Millions of U.S. Dollars 18,853 Millions of U.S. Dollars 16,177 Millions of U.S. Dollars Mil. of U.S. $
line 26
Rest of the world 		Q3 2025 125,748 Millions of U.S. Dollars 121,619 Millions of U.S. Dollars 122,039 Millions of U.S. Dollars Mil. of U.S. $
line 27
Discrepancy 		Q3 2025 143,106 Millions of U.S. Dollars 220,830 Millions of U.S. Dollars 64,392 Millions of U.S. Dollars Mil. of U.S. $
   

Back to Top

Subscribe to the FRED newsletter

Follow us

 

Need Help?

Questions or Comments
FRED Help
Legal
Privacy Notice & Policy