Flow of Funds Accounts of the United States

For use at 12:00 p.m., eastern time September 20, 2012 FEDERAL RESERVE statistical release Z.1 Flow of Funds Accounts of the United States Flows and Outstandings Second Quarter 2012 Board of Governors of the Federal Reserve System, Washington DC 20551 Flow of Funds Summary Statistics Second Quarter 2012 Debt of the domestic nonfinancial sectors expanded at a seasonally adjusted annual rate of 5 percent in the second quarter of 2012, ½ percentage point more than in the first quarter. Household debt rose at an annual rate of 1¼ percent in the second quarter, the largest increase since the first quarter of 2008. Nonetheless, household debt has changed little, on net, since the third quarter of last year. Consumer credit rose at an annual rate of 6¼ percent in the second quarter, the seventh consecutive quarterly increase. Home mortgage debt declined a bit more than 2 percent in the second quarter, continuing the downtrend that commenced in early 2008. Nonfinancial business debt rose at an annual rate of almost 5 percent in the second quarter, after an increase of 3½ percent in the first quarter. Corporate bonds outstanding and business loans increased, while commercial mortgage debt continued to decline. State and local government debt rose at an annual rate of ¾ percent in the second quarter, after five consecutive quarterly declines. Federal government debt rose at an annual rate of almost 11 percent in the second quarter, about 1¾ percentage point less than the average pace during the previous four quarters. At the end of the second quarter of 2012, the level of domestic nonfinancial debt outstanding was $39.1 trillion, of which household debt was $13.0 trillion, nonfinancial business debt was $12.0 trillion, and total government debt was $14.1 trillion. Household net worth—the difference between the value of households’ assets and liabilities—was $62.7 trillion at the end of the second quarter of 2012, about $300 billion less than at the end of the first quarter. In the second quarter, the value of corporate equities and mutual funds owned by households declined close to $600 billion, more than offsetting a $355 billion increase in the value of real estate owned by households. Growth of Domestic Nonfinancial Debt1 Percentage changes; quarterly data are seasonally adjusted annual rates 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2011:Q1 Q2 Q3 Q4 2012:Q1 Q2 Total Households 7.3 10.6 8.0 11.8 9.3 11.1 9.2 11.1 8.6 9.8 8.5 6.7 5.9 -0.2 3.1 -1.7 4.1 -2.2 3.6 -1.6 2.5 -2.0 2.6 -2.7 4.3 -1.7 4.9 0.1 4.4 -0.9 5.0 1.2 Business 3.0 2.2 6.7 8.9 10.8 13.6 6.1 -2.3 0.8 4.7 3.7 5.2 4.2 5.3 3.4 4.9 State and local govts. 11.1 8.3 11.9 5.5 3.7 5.4 0.7 3.9 2.2 -1.9 -2.8 -2.6 -0.2 -2.1 -1.2 0.8 Federal 7.6 10.9 9.0 7.0 3.9 4.9 24.2 22.7 20.2 11.4 9.1 8.2 13.7 12.7 13.7 10.9 1. Changes shown are on an end-of-period basis. Table of Contents Title Table Page Flow of Funds Accounts, Second Quarter 2012 1 Availability of Data for Latest Quarter 4 Credit Market Debt Growth by Sector D.1 7 Credit Market Borrowing by Sector D.2 8 Credit Market Debt Outstanding by Sector D.3 9 Flows Title Table Page Levels Table Page Summaries Total Credit Market Borrowing and Lending Credit Market Borrowing by Nonfinancial Sectors Credit Market Borrowing by Financial Sectors Credit Market Borrowing, All Sectors, by Instrument Total Liabilities and Its Relation to Total Financial Assets F.1 10 L.1 64 F.2 11 L.2 65 F.3 11 L.3 65 F.4 12 L.4 66 F.5 12 L.5 66 Distribution of Gross Domestic Product F.6 13 Distribution of National Income F.7 14 Saving and Investment F.8 15 Net Capital Transfers F.9 16 Derivation of Measures of Personal Saving F.10 17 L.10 67 Flows Levels Title Table Page Table Page Sectors Households and Nonprofit Organizations F.100 18 Nonfinancial Business F.101 19 Nonfinancial Corporate Business F.102 20 Nonfinancial Noncorporate Business F.103 21 State and Local Governments F.104 22 Federal Government F.105 23 Rest of the World F.106 24 Financial Business F.107 25 Monetary Authority F.108 26 Private Depository Institutions F.109 27 U.S.-Chartered Depository Institutions, ex. Credit Unions F.110 28 Foreign Banking Offices in U.S. F.111 29 Banks in U.S.-Affiliated Areas F.112 30 Credit Unions F.113 30 Property-Casualty Insurance Companies F.114 31 Life Insurance Companies F.115 31 Private Pension Funds F.116 32 State and Local Government Employee Retirement Funds F.117 33 Federal Government Retirement Funds F.118 33 Money Market Mutual Funds F.119 34 Mutual Funds F.120 34 Closed-End and Exchange-Traded Funds F.121 34 Government-Sponsored Enterprises F.122 35 L.100 68 L.101 69 L.102 70 L.103 71 L.104 72 L.105 73 L.106 74 L.107 75 L.108 76 L.109 77 L.110 78 L.111 79 L.112 80 L.113 80 L.114 81 L.115 81 L.116 82 L.117 83 L.118 83 L.119 84 L.120 84 L.121 84 L.122 85 Flows Levels Title Agency- and GSE-Backed Mortgage Pools Issuers of Asset-Backed Securities Finance Companies Real Estate Investment Trusts Security Brokers and Dealers Holding Companies Funding Corporations Table Page F.123 35 F.124 36 F.125 36 F.126 37 F.127 38 F.128 39 F.129 40 Table Page L.123 85 L.124 86 L.125 86 L.126 87 L.127 88 L.128 89 L.129 90 Instruments U.S. Official Reserve Assets and SDR Allocations F.200 41 Special Drawing Rights (SDRs) Certificates and Treasury Currency F.201 41 ... - tailieumienphi.vn