FLOW OF FUNDS ACCOUNTS 2ND QUARTER 1978

Transcription

1 AUGUST FLOW OF FUNDS FLOW OF FUNDS ACCOUNTS ND QUARTER SEASONALLY ADJUSTED AND UNADJUSTED REVISIONS FOR DIVISION OF RESEARCH AND STATISTICS BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM WASHINGTON, D.C.

2 TABLE LIST PAGE SUMMARY TABLES Income and Product Distribution Funds Raised in Credit Markets Credit Market Supply of Funds Households SECTOR TABLES Total Nonfinancial Business Noncorporate Business Nonfinancial Corporate Business State+Local Governments Foreign U.S. Government + Credit Agencies Banking System Commercial Banking Subsectors Nonbank Finance Summary Savings Institutions Insurance + Pension Funds Finance N.E.C. TRANSACTION TABLES Monetary and Insurance Reserves Interbank Claims Money and Deposits U.S. Government Securities Private Securities, Mortgages Consumer Credit and Bank Loans N.E.C. Open Market Paper Other Loans Security Credit, Trade Credit, and Taxes Payable, Miscellaneous Total Claims Saving By Individuals Discrepancies Money Stock Relationship

3 Flow of Funds Accounts, Second Quarter These tables reflect the annual revision process that each year introduces new information from a variety of sources for several years back and that includes new seasonal adjustment calculations based on the revised estimates and the additional year of information. The tables include the revisions in national income and product accounts that were published in July by the Commerce Department, revisions in international transactions published in June by Commerce, the Census Bureau's Survey of Governmental Finances for state and local governments, and benchmarks for nonbank financial institutions from annual tabulations. Beyond these standard sources of annual revision, the estimates reflect some new sources of information and changes in calculation method. The most prominent of these is the new tabulation for working capital of nonfinancial corporations, which is described in the July Federal Reserve Bulletin, pages. Use of those figures here has altered primarily the estimates for corporate liquid assets and for trade credit and trade debt. The liquid asset revisions have reduced the total held for recent years and redistributed composition somewhat, mainly on the basis of detail in the Federal Trade Commission's Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations. These revisions are reflected in financial assets of households, which are calculated as a residual. A second change in data source is in the Ml money stock liability of Edge Act corporations and agencies of foreign banks, which in the new tables is taken directly from the balance sheets of these institutions. This change alters the total of money stock liabilities and, other things equal, household holdings. Formerly money deposit liabilities of foreign banking agencies were based on data underlying the weekly money stock publications that was less suitable for integration with the full balance sheets of the agencies. Revisions from this source are small on an annual basis but in some instances large in quarterly data. A third change in data source is in commercial bank amounts due to and due from foreign branches and affiliates. These flows are now based on special monthly surveys and are gross in both assets and liabilities, unlike the Call Reports for banks, which include some netting. The offsets to the revision are unallocated assets and liabilities of banks and the rest of the world. i

4 Fourth, savings and loan association statements here now include borrowings in corporate bonds through issues of mortgagebacked bonds and in repurchase agreements. Both of these borrowing forms are recent innovations for S+L! s, and affect the accounts for only a few years. The account for Federal funds and security RP f s, on pp., now include two types of borrowersbanks and S+L f s. These changes in data source affect mainly the estimates for, but a few of them run back to earlier years. Tables of revision amounts are available on request. estimates, it should be noted, are based in part on the commercial bank Call Report for March, and for this reason differ somewhat from monthly bank credit estimates. Amounts outstanding. Revisions in asset and liability positions are not completed yet and are not in the present set of tables. The new outstandings will be distributed soon after the remaining data needed become available for the calculation. Secondquarter,. Secondquarter estimates that are included in the tables are based on preliminary and incomplete information and are therefore only tentative. At the end of this preface is a list of the principal sources of information that were available in putting together the first quarter on this preliminary basis, and the significance of individual items in the tables should be judged on the basis of the list. The list is summary in form and is by no means a complete statement of sources of data or of derivation methods. Because much of the source information consists of sector balance sheets or statements of activity, the list is organized mainly in terms sectors. For nonfinancial activity included in the accounts, however, such as sector income and capital outlays, the Commerce Departments income and product accounts are the principal source, and this part of the system is included separately at the beginning of the list. The items that are shown as available are in general also preliminary in the sense that they are subject to revision once a year on the basis of benchmark data. "Available for them means that the basic quarterly estimates for them have been completed in a form that will usually stand until the next annual revision. Virtually all quarterly data sources are compiled within five or six months of the end of the quarter, and the distinction between the two columns is not between final and preliminary versions of data but rather between those source estimates that are fully ready when the first quarterly estimate is put together and those that are not yet completed. Availability of estimates. This publication is part of a quarterly series that is usually available at the middle of the second month following the quarter reported and that is distributed to a mailing list. The process of printing and mailing causes delays of up to two weeks or more from the time the estimates are completed, and to ii

5 facilitate earlier access in the meantime copies of the computer printouts are distributed to Federal Reserve Bank information offices for use by the public. The current quarterly tables are an extension of a body of data that includes all years from on an annual basis and quarterly periods from in both net flows and asset and liability positions. In annual form the data are available in Flow of Funds Accounts, (December ) in both flows and levels. assets and liability positions were published in December in Flow of Funds Accounts, Assets and Liabilities Outstanding,. Quarterly history is available in either computer data tape form for the complete set or in specific printings of selected tables. Requests and inquiries about the data, historical tabulations and computer tapes of the data should be addressed to: Flow of Funds Section Room B Board of Governors of the Federal Reserve System th and Constitution Ave. Washington, D. C. (). iii

6 Information Status for Preliminary Estimates NONFINANCIAL Available Major items missing National income and product accounts FINANCIAL First quarterly estimate Corporate profits, profit tax accruals, and undistributed profits. Households Estimates for this sector is almost entirely residual and derived from data for other sectors. Availability is thus dependent on schedules for other sectors. Principal types of borrowingmortgages and consumer credit are available in time for first quarterly estimates. Farms Bank loans. For sponsored agency loans, see item below. U.S. Government loans. item below. See Nonfarm noncorporate business Bank and finance company loans, mortgage borrowing, openmarket paper Net trade debt Nonfinancial corporate business State and local governments For preceding quarter: working capital, net security issues, foreign direct investment. For current quarter: gross security offerings, mortgages, bank loans, openmarket paper, finance company loans. Gross security offerings, deposits at banks, two months of quarter for Government security holdings Working capital, foreign direct investment, U.S. Government loans Security retirements, last month of quarter for holdings for Government securities iv "

7 FINANCIAL Available Major items missing Rest of the world (U.S. International Transactions) U.S. Government Sponsored credit agencies Mortgage pools Monetary authorities Banking Savings and loan associations Mutual savings banks Credit unions Preceding quarter, two months of current quarter for capital movements Monthly Treasury Statement of Receipts and Outlays for last month of quarter, Federal Financing Bank statement Balance sheets for FNMA, Home Loan Banks, Farm Credit Administration securities outstanding. FCA loans for most recent June or December Complete Complete Banking and monetary estimates through last month of quarter two months for foreign agencies Last month of quarter on summary monthly basis Two months of quarter Deposit flows and consumer credit Capital movements for last month of quarter, direct investment flows Loans outstanding except at Federal Financing Bank FCA loans for March or September None None Recent allbank totals, last month for foreign agencies Detailed listing of cash and investments. Last month of quarter Other assets v

8 FINANCIAL Life insurance companies Private Pension Funds State and local government retirement system Other insurance companies Finance companies REIT's Investment companies and money market funds Security brokers and dealers Available Two months of quarter Preceding quarter Preceding quarter Preceding quarter Complete Preceding quarter Complete Borrowings Major items missing Last month Current quarter Current quarter Current quarter None Current quarter None Assets vi

9 INCOME AND PRODUCT DISTRIBUTION INCOME AND PRODUCT DISTRIBUTION INCOME AND PRODUCT ACCOUNTS: GNP EXPENDITURES AND GROSS SAVING I I IV I I TOTAL GNP.... CURRENT OUTLAYS. HOUSEHOLDS. OF WHICH CONSUMER DURABLES. STATE LOCAL GOVERNMENT.. U. S. GOVERNMENT GROSS DOMESTIC INVESTMENT PRIVATE FIXED INVESTMENT RESIDENTIAL CONSTRUCTION MOBILE HOMES FAMILY STRUCTURES HOUSEHOLD PURCHASES FARM.... CHANGE IN WORK IN PROCESS ON NONFARM NONCORPORATE CORPORATE MULTIFAMILY UNITS HOUSEHOLDS () NONCORPORATE BUSINESS NONFIN. CORP. BUSINESS REITS NONRES. PLANT + EQUIPMENT NONPROFIT INST. (HH) FARM NONFARM NONCORP. BUS. FINANCIAL CORPORATIONS NONFIN. CORP. BUSINESS INVENTORIES FARM NONFARM NONCORPORATE CORPORATE NET EXPORTS. EXPORTS IMPORTS.... DISPOSABLE PERSONAL INCOME PERSONAL SAVING SAVING RATE (PER CENT) FEDERAL GOVERNMENT SURPLUS ST.+LOC. GOVERNMENT SURPLUS CORPORATE PROFITS, TAXES DIVIDENDS: PROFITS TOTAL FARMS FOREGN FINANCIAL CORPORATIONS NONFIN. CORPORATE BUSINESS.... TAX ACCRUALS TOTAL FARMS. FINANCIAL CORPORATIONS. NONFIN. CORPORATE BUSINESS DIVIDENDS TOTAL FARMS NET FOREIGN FINANCIAL CORPORATIONS NONFIN. CORPORATE BUSINESS... UNDIST. PROFITS TOTAL FARMS. FOREIGN BRANCH PROFITS.. FINANCIAL CORPORATIONS NONFIN. CORPORATE BUSINESS CAP. CONS. ADJUST. TOTAL FARMS FINANCIAL CORPORATIONS NONFIN. CORPORATE BUSINESS o. TOTAL CAPITAL CONSUMPTION OWNEROCCUPIED HOMES (HH) NONPROFIT INSTITUTIONS (HH) FARM NONCORPORATE NONFARM NONCORP. BUSINESS TOTAL CORPORATE FINANCIAL BUSINESS. CORPORATE FARMS NONFIN. CORPORATE BUSINESS MEMO: CAP. CONS. ON CONSUMER. DURABLES NOT INCLUDED ABOVE TOT. CAP. CONS. INCL. DURABLES STATISTICAL DISCREPANCY. PROFIT TAX RATE (?). PERSONAL TAX RATE (Z) MILLIONS OF DOLLARS. / BASED ON INCOMPLETE INFORMATION. () Purchases of condominium units.

10 FUNDS RAISED IN CREDIT MARKETS FUNDS RAISED IN CREDIT MARKETS SUMMARY OF FUNDS RAISED IN CREDIT MARKETS UNADJUSTED NET FLOWS ($ MILL.) UNADJUSTED NET FLOWS ($ MILL.) I IV BILLIONS OF DOLLARS CREDIT MARKET FUNDS RAISED Y NONFINANCIAL SECTORS TOTAL FUNDS RAISED BY NONFINANCIAL SECTORS EXCLUDING EQUITIES..... U.S. GOVERNMENT TREASURY ISSUES AGENCY ISSUES MORTGAGES ALL OTHER NONFINANCIAL SECTORS CORPORATE EQUITIES DEBT INSTRUMENTS... PRIVATE DOMESTIC NONFINANCIAL SECTORS CORPORATE EQUITIES DEBT INSTRUMENTS B. ~mi..... DEBT CAPITAL INSTRUMENTS ST.+LOC. OBLIGATIONS CORPORATE BONDS MORTGAGES HOME MORTGAGES MULTIfAMILY RESID. COMMERCIAL FARM V..... OTHER DEBT INSTRUMENTS CONSUMER CREDIT BANK LOAN N.E.C. OPENMARKET PAPER OTHER BY BORROWING SECTOR: ST.+LOC. GOVERNMENTS HOUSEHOLDS NONFINANCIAL BUSINESS FARM NGNFARM NONCORPORATE CORPORATE DEBT INSTRUMENTS EQUITIES.. o.e.. FOREIGN CORPORATE EQUITIES DEBT INSTRUMENTS BONDS BANK LOANS N.E.C. OPENMARKET PAPER U.S. GOVERNMENT LOANS i. i MEMO: U.S. GOVT. CASH BALANCE. TOTALS NET OF CHANGES IN U.S. GOVT. CASH BALANCES TOTAL KINDS RAISED BY U.S. GOVERNMENT CREDIT MARKET FUNDS RAISED BY FINANCIAL SECTORS TOTAL FUNDS RAISED BY FINANCIAL SECTORS. U.S. GOVT. RELATED SPONSORED CR. AG. SEC. MORTGAGE POOL SECURITIES LOANS FROM U.S. GOVERNMENT PRIVATE FINANCIAL SECTORS CORPORATE EQUITIES... ~.. ~ :>... DEbT INSTRUMENTS CORPORATE BONDS MORTGAGES BANK LOANS N.E.C. OPENMARKET PAPER RP»!» LOANS FROM FHLB»S TOTAL, BY SECTOR SPONSORED CRfcDIT AGENCIES MORTGAGE POOLS PRIVATE FINANCIAL SECTORS COMMERCIAL BANKS BANK AFFILIATES SAVINGS LOAN ASSNS. OTHER INSURANCE COMPANIES FINANCE COMPANIES REITS OPENEND INVESTMENT COS. MONEY MARKET FUNDS TOTAL CREDIT MARKET FUNDS RAISED, ALL.. SECTORS, BY.. ~ TYPE... ~. ". ~ TOTAL FUNDS RAISED INVESTMENT COMPANY SHARES OTHER CORPORATE EQUITIES DEBT INSTRUMENTS U.S. GOVERNMENT SECURITIES STATE + LOCAL OBLIGATIONS CORPORATE FOREIGN BONDS MORTGAGES CONSUMER CREDIT BANK LOANS N.E.C. OPENMARKET PAPER RP»S OTHER LOANS / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION.

11 FUNDS RAISED IN CREDIT MARKETS SUMMARY OF FUNDS RAISED IN CREDIT MARKETS FUNDS RAISED IN CREDIT MARKETS I CREDIT MARKET FUNDS RAISED BY NONFINANCIAL SECTORS..... TOTAL FUNDS RAISED BY NONFINANCIAL SECTORS EXCLUDING EQUITIES U.S. GOVERNMENT TREASURY ISSUES AGENCY ISSUES MORTGAGES ALL OTHER NONFINANCIAL SECTORS CORPORATE EQUITIES DEBT INSTRUMENTS PRIVATE DOMESTIC NONFINANCIAL SECTORS CORPORATE EQUITIES DEBT INSTRUMENTS DEBT CAPITAL INSTRUMENTS ST.+LQC. OBLIGATIONS CORPORATE BONDS MORTGAGES HOME MORTGAGES MULTIFAMILY RESD. COMMERCIAL FARM OTHER DEBT INSTRUMENTS CONSUMER CREDIT BANK LOANS N.E.C. OPENMARKET PAPER OTHER BY BORROWING SECTOR: ST.+LOC GOVERNMENTS HOUSEHOLDS NONFINANCIAL BUSINESS FARM NONFARM NONCORPORATE CORPORATE DEBT INSTRUMENTS EQUITIES FOREIGN CORPORATE EQUITIES DEBT INSTRUMENTS BONDS BANK LOANS N.E.C. OPENMARKET PAPER U.S. GOVERNMENT LOANS MEMO: U.S. GOVT. CASH BALANCE.. TOTALS NET OF CHANGES IN U.S. GOVT. CASH BALANCES. TOTAL FUNDS RAISED BY U.S. GOVERNMENT CREDIT MARKET FUNDS RAISED BY FINANCIAL SECTORS TOTAL FUNDS RAISED BY FINANCIAL SECTORS.. U.S. GOVT. RELATED SPONSORED CR. AG. SEC. MORTGAGE POOL SECURITIES LOANS FROM U.S. GOVERNMENT PRIVATE FINANCIAL SECTORS CORPORATE EQUITIES DEBT INSTRUMENTS CORPORATE BONDS MORTGAGES BANK LOANS N.E.C. OPENMARKET PAPER + RP»S LOANS FROM FHLB f S. TOTAL, BY SECTOR SPONSORED CREDIT AGENCIES MORTGAGE POOLS. i ~... TOTAL.. CREDIT..... MARKET FUNDS RAISED, ALL.. SECTORS,.. BY TYPE PRIVATE FINANCIAL SECTORS COMMERCIAL BANKS BANK AFFILIATES SAVINGS + LOAN ASSNS. OTHER INSURANCE COMPANIES FINANCE COMPANIES REITS OPENEND INVESTMENT COS. MONEY MARKET FUNDS TOTAL FUNDS RAISED INVESTMENT COMPANY SHARES OTHER CORPORATE EQUITIES.... to.... DEBT INSTRUMENTS GOVERNMENT U.S. SECURITIES STATE LOCAL OBLIGATIONS CORPORATE FOREIGN BONOS MORTGAGES CONSUMER CREDIT BANK LOANS N.E.C. OPENMARKET PAPER RP»S OTHER LOANS BILLIONS OF OOLLARS. / BASED ON INCOMPLETE INFORMATION.

12 AUGUST r CREDIT MARKET SUPPLY OF FUNDS CREDIT MARKET SUPPLY OF FUNDS DIRECT AND INDIRECT SOURCES OF FUNDS TO CREDIT MARKETS UNADJUSTED NET FLOWS I MILL.) UNADJUSTED NET FLOWS < MILL.) IV BILLIONS OF DOLLARS TOTAL FUNDS ADVANCED IN CREDIT MARKETS TO NONFINANCIAL SECTORS. BY PUBLIC AGENCIES FOREIGN TOTAL NET ADVANCES, BY TYPE, U.S. GOVERNMENT SECURITIES.. RESIDENTIAL MORTGAGES. FHLB ADVANCES TO S+L«S. OTHER LOANS + SECURITIES.. TOTALS ADVANCED, BV SECTOR U.S. GOVERNMENT. GOVT.RELATED AG. + POOLS. MONETARY AUTHORITIES,. FOREIGN, A&tNCY BORROWING AND POOL SECURITY ISSUES NOT INCLUDED IN LINE : PRIVATE DOMESTIC FUNDS ADVANCED TOTAL NET ADVANCES U.S. GOVERNMENT SECURITIES STATE + LOCAL OBLIGATIONS CORPURATE FOREIGN BONDS RESIDENTIAL MORTGAGES OTHER MORTGAGtS + LOANS LESS: FHLB ADVANCES PKIVATE FINANCIAL INTERMEDIATE [ON... fa CREDIT MARKET FUNDS ADVANCED BY PRIVATE FINANCIAL INSTS. COMMERCIAL BANKING SAVINGS INSTITUTIONS INSURANCE + PENSION FUNDS OTHER FINANCE b.. SOURCES LF FUNDS PRIVATfc DOMESTIC DEPOSITS CREDIT MARKET BORROWING.. /. OTHEk SOURCES FOREIGN FUNDS TREASURY BALANCES INSURANCE + PENSION RES. OTHER, NET. b PRIVATE DOMESTIC NONFINANCIAL INVESTORS DIRECT LENNG IN CR. MARKETS. U.S. GOVERNMENT SECURITIES. STATE + LOCAL OBLIGATIONS CORPORATE + FOREIGN BONDS OPENMKT PAPER, ETC.. OTHER G.G DEPOSITS CURRENCY TIME + SAVINGS ACCOUNTS LARGE NEGOTIABLE CD'S OTHER AT COMMERCIAL BANKS AT SAVINGS INSTITUTIONS. b MONEY DEMAND DEPOSITS CURRENCY..... TOTAL OF CREDIT MARKET NSRU McNTS, DEPOSITS + CURRENCY b PUBLIC HOLDINGS AS % OF TOTAL PVT. FINAN. INTERMEDIATION (%) TOTAL FOREIGN FUNDS b CORPORATE EQUITIES NOT INCLUDED ABOVE TOTAL NET ISSUES MUTUAL FUND SHARES OTHER EQUITIES. ACQ. BY FINANCIAL INSTITUTIONS OTHER NET PURCHASES / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION.

13 CREDIT MARKET SUPPLY OF FUNDS CREDIT MARKET SUPPLY OF FUNDS DIRECT AND INDIRECT SOURCES OF FUNDS TO CREDIT MARKETS I I I IV I.. TOTAL FUNDS ADVANCED IN CREDIT MARKETS.. TO NONFINANCIAL SECTORS BY PUBLIC AGENCIES FOREIGN J TOTAL NET ADVANCES, BY TYPE. U.S. GOVERNMENT SECURITIES. RESIDENTIAL MORTGAGES FHLB ADVANCES TO SL»S. OTHER LOANS SECURITIES TOTALS ADVANCED, BY SECTUR U.S. GOVERNMENT GOVT.RELATED AG. POOLS MONETARY AUTHORITIES FOREIGN AGENCY BORROWING AND POOL SECURITY ISSUES NOT INCLUDED. IN LINE PRIVATE DOMESTIC FUNDS ADVANCED TOTAL NET ADVANCES U.S. GOVERNMENT SECURITIES STATE LOCAL OBLIGATIONS CORPORATE FOREIGN BONDS. RESIDENTIAL MORTGAGES OTHER MORTGAGES + LOANS LESS: FHLB ADVANCES PRIVATE FINANCIAL INTERMEDIATION L... C CREDIT MARKET FUNDS ADVANCED BY PRIVATE FINANCIAL INSTS. COMMERCIAL BANKING SAVINGS INSTITUTIONS INSURANCE PENSION FUNDS OTHER FINANCE L..... SOURCES OF FUNDS PRIVATE DOMESTIC DEPOSITS CREDIT MARKET BORROWING OTHER SOURCES FOREIGN FUNDS TREASURY BALANCES INSURANCE PENSION RES. OTHER, NET PRIVATE DOMESTIC NONFINANCIAL INVESTORS. d DIRECT LENDING IN CR. MARKETS U. GOVERNMENT SECURITIES STATE + LOCAL OBLIGATIONS CORPORATE FOREIGN BONDS UPENMKT PAPER, ETC.. OTHER... DEPOSITS CURRENCY TIME SAVINGS ACCOUNTS LARGE NEGOTIABLE CD'S OThER AT COMMERCIAL BANKS AT SAVINGS INSTITUTIONS MONEY DEMAND DEPOSITS CURRENCY. TOTAL OF CREDIT MARKET INSTRU MENTS, DEPOSITS CURRENCY. PUBLIC HOLDINGS AS % OF TOTAL PVT. FNAN. INTERMEDIATION (?) TOTAL FOREIGN FUNDS CORPORATE EQUITIES NOT INCLUDED ABOVE TOTAL NET ISSUES MUTUAL FUND SHARES OTHER EQUITIES. ACQ. BY FINANCIAL INSTITUTIONS OTHER NET PURCHASES BILLIONS OF DOLLARS. / BASED ON INCOMPLETE INFORMATION.... Page, line. Sum of lines or. Includes farm and commercial mortgages. Credit market funds raised by Federally sponsored credit agencies. Includes all GNMAguaranteed security issues backed by mortgage pools. Line less line plus line. Also line less line plus line. Also sum of lines,, and. Includes farm and commercial mortgages. Lines +. Excludes equity issues and investment company shares. Includes line. Foreign deposits at commercial banks, bank borrowings from foreign branches, and liabilities of foreign banking agencies to foreign affiliates. Demand deposits at commercial banks.. Excludes net investment of these reserves in corporate equities.. Mainly retained earnings and net miscellaneous liabilities.. Line less line plus line.. Lines less amounts required by private finance. Line includes mortgages.. See line.. Mainly an offset to line.. Lines + or line less line plus line.. Line /line.. Line /line.. Line plus line. Corporate Equities Line and. Includes issu< by financial institutions.

14 AUGUST» HOUSEHOLDS HOUSEHOLDS SECTOR STATEMENTS OF SAVING AND INVESTMENT UNADJUSTED NET FLOWS ($ MILL.) UNADJUSTED NET FLUWS (S MILL.) I I BILLIONS OF DOLLARS HOUSEHOLDS, PERSONAL TRUSTS, AND NONPROFIT ORGANIZATIONS PERSONAL INCOME PERSONAL TAXES NONTAXES... = DISPOSABLE PERSONAL INCOME PERSONAL OUTLAYS.. = PERSONAL SAVING, NIA BASIS CREDITS FROM GOVT. INSURANCE CAPITAL GAINS DIVIDENDS NET DURABLES IN CONSUMPTION = NET SAVING CAPITAL CONSUMPTION = GROSS SAVING GROSS INVESTMENT CAPITAL EXPEND.NET OF SALES RESIDENTIAL CONSTRUCTION CONSUMER DURABLE GOODS NONPROFIT PLANT + EQUIP NET FINANCIAL INVESTMENT NET ACQ. OF FINANCIAL ASSETS... DEP. CR. MKT. INSTR. () DEMAND DEP. CURRENCY. TIME SAVINGS ACCOUNTS AT COMMERCIAL BANKS AT SAVINGS INST... b.... CREDIT MKT. INSTRUMENTS U.S. GOVT. SECURITIES ST.+LOC. OBLIGATIONS CORPORATE FGN. BONDS MORTGAGES OPENMARKET PAPER MONEY MARKET FUND SHRS INVESTMENT COMPANY SHARES OTHER CORPORATE EQUITIES LIFE INSURANCt RESERVES PENSION FUND RESERVES NET NV. IN NONCURP. BUS. SECURITY CREDIT MISCELLANEOUS ASSETS NET INCREASE IN LIABILITIES CREDIT MARKET INSTRUMENTS HOME MORTGAGES OTHER MORTGAGES INSTALMENT CONS. CREDIT OTHER CONSUMER CREDIT BANK LOANS N.E.C. OTHER LOANS SECURITY CREDIT TRADE DEBT MISCELLANEOUS DISCREPANCY... b b ^.b. l.t> b. <!.. I..... <!.. ) EXCLUDES CORPORATE EQUITIES. MEMORANDA: NET PHYSICAL INVESTMENT: {A) RESIDENTIAL CONSTRUCTION EXPENDITURES. MOBILE HOMfcS OTHER CAPITAL CONSUMPTION. b nome MORTGAGES. EXCESS NET INVESTMENT.b.. (b) CONSUMER DURAfaLES EXPENDITURES CAPITAL CONSUMPTION = NET INVfcSTMENT CONSUMER CREDIT = EXCESS NET INVESTMENT (C) NONPROFIT PLANT + EQUIP. EXPENDITURES CAPITAL CONSUMPTION NNPRUFT MORTGAGES = EXCESS NET INVESTMENT PER CENT RATIOS: EFFECTIVE TAX RATE iaving RATE, NIA BASIS PcR CENT OF DISPOSABLE GROSS SAVING CAPITAL EXPENDITURES ACQUISITION OF FINAN. ASSETS NET INCREASE IN LIABILITIES CREDIT MARKET BORROWING b.b... a INCOME ADJ. ():.? JJ DISPOSABLE INCOME ADJ.. (NIA DISPOSABLE INCOME GOVT, INSURANCE CREDITS + CAPITAL GAINS DIVIO.) / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION.....

15 HOUSEHOLDS HOUSEHOLDS SECTOR STATEMENTS OF SAVING AND INVESTMENT HOUSEHOLDS PERSONAL TRUSTS, AND NONPROFIT ORGANIZATIONS PERSONAL INCOME. PERSONAL TAXES + NUNTAXES = DISPOSABLE PERSONAL INCOME PERSONAL OUTLAYS = PERSONAL SAVING, NIA BASIS + CREDITS FROM GOVT. INSURANCE. + CAPITAL GAINS DIVIDENDS NET DURABLES IN CONSUMPTION = NET SAVING CAPITAL CONSUMPTION. = GROSS SAVING. b... GROSS INVESTMENT CAPITAL EXPEND.NET OF SALES RtSIDENTIAL CONSTRUCTION. CONSUMER DURAbLE GOODS. NONPROFIT PLANT + EQUIP..i.. NET FINANCIAL INVESTMENT NET ACQ. OF FINANCIAL ASSETS DEP. CR. MKT. INSTR. () DEMAND DEP. CURRENCY... TIME + SAVINGS ACCOUNTS AT COMMERCIAL BANKS AT SAVINGS INST., CREDIT MKT. INSTRUMENTS U.S. GOVT. SECURITIES ST.+LOC. OBLIGATIONS CORPORATE + FGN. BONDS MORTGAGES OPENMARKET PAPER MONEY MARKET FUND SHRS INVESTMENT COMPANY SHARES OTHER CORPORATE EQUITIES.... LIFE INSURANCE RESERVES PENSION FUND RESERVES...,,... NET NV. IN NONCORP. BUS. SECURITY CREDIT MISCELLANEOUS ASSETS. «i. b.. t.z.., NET INCREASE IN LIABILITIES CREDIT MARKET INSTRUMENTS HOME MORTGAGES OTHER MORTGAGES INSTALMENT CONS. CREDIT OTHER CONSUMER CREDIT BANK LOANS N.E.C. OTHER LOANS. SECURITY CREDIT TRADE DEBT MISCELLANEOUS DISCREPANCY (i) EXCLUDES CORPORATE EQUITIES.. <L MEMORANDA: NET PHYSICAL INVESTMENT: (A) RESIDENTIAL CONSTRUCTION EXPfcNDITURES MOBILE HUMES OTHfcR CAPITAL CONSUMPTION HOME MORTGAGES = EXCESS NET INVESTMENT U. S... o.b (B) CONSUMER DURABLES EXPENDITURES CAPITAL CONSUMPTION = NET INVESTMENT CONSUMER CREDIT = EXCESS NET INVESTMENT. (C) NONPROFIT PLANT EQUIP.. EXPENDITURES CAPITAL CONSUMPTION NONPROFIT MORTGAGES = EXCESS NET INVESTMENT.. PER CENT RATIOS:. EFFECTIVE TAX RATE SAVING RATE, NIA BASIS PER CENT OF DISPOSABLE INCOME AOJ. (): GROSS SAVING CAPITAL EXPENDITURES ACQUISITION OF FINAN. ASSETS NET INCREASE IN LIABILITIES. CREDIT MARKET BORROWING.. () DISPOSABLE INCOME ADJ. (NIA DISPOSABLE INCOME GOVT. INSURANCE CREDITS + CAPITAL GAINS DIVIO.) BILLIONS OF DOLLARS. / BASED ON INCOMPLETE INFORMATION.

16 TOTAL + NONCORP BUSINESS TOTAL NONCORP BUSINESS SECTOR STATEMENTS OF SAVING AND INVESTMENT UNADJUSTED NET FLOWS ( MILL.) UNADJUSTED NET FLOWS i% MILL.) I IV» BILLIONS OF DOLLARS NONFINANCIAL BUSINESS TOTAL INCOME BEFORE TAXES GROSS SAVING.... GROSS INVESTMENT CAPITAL EXPENDITURES FIXED INVESTMENT BUSINESS PLANT EQUIPMENT HOME CONSTRUCTION () MULTIFAMILY RESIDENTIAL CHANGE IN INVENTORIES MINERAL RIGHTS FROM U.S.GOVT NET FINANCIAL INVESTMENT NET ACQ. OF FINANCIAL ASSETS NET INCREASE IN LIABILITIES CORPORATE EQUITIES CREDIT MARKET INSTRUMENTS BONOS MORTGAGES BANK LOANS N.fc.C. OTHER LOANS TRADE DEBT OTHER LIABILITIES... DISCREPANCY. FARM BUSINESS NET INCOME NET SAVING CAPITAL CONSUMPTION CORPORATE NONCORPORATE CURRENT SURP. = GROSS SAVING.. L GROSS INVESTMENT CAPITAL EXPENDITURES PLANT EQUIPMENT RESIDENTIAL CONSTRUCTION CHANGE IN INVENTORIES.... NET FINANCIAL INVESTMENT NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS + CURRENCY MISCELLANEOUS ASSETS INSURANCE RECEIVABLES EQ. IN SPONS. AGS. (). NET INCREASE IN LIABILITIES CREDIT MARKET INSTRUMENTS MORTGAGES BANK LOANS N.E.C. OTHER LOANS U.S. GOVERNMENT FICB.. TRADE DEBT PROPRIETOR NET INVESTMENT. NONFARM NONCORPORATE BUSINESS NET INCOME.. CAPITAL CONSUMPTION CURRENT SURP. = GROSS SAVING GROSS INVESTMENT CAPITAL EXPENDITURES FIXED CAPITAL PLANT EQUIPMENT HOME CONSTRUCTION () MULTIFAMILY RESIDENTIAL CHANGE IN INVENTORIES o.^......C... NET FINANCIAL INVtSTMENT NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY CONSUMER CREDIT MISCELLANEOUS ASSETS INSURANCE RECEIVABLES EQ. IN SPONS. AGS. () NET INCREASE IN LIABILITIES CREDIT MARKET INSTRUMENTS MORTGAGES HOME MORTGAGES MULTIFAMILY COMMERCIAL BANK LOANS N.E.C. OTHER LOANS TRADE DEBT, NET PROPRIETOR NET INVESTMENT..? () FARM PLUS NONFAKM CHANGE IN WORK IN PROCESS. () SHARES IN FICBSt BANKS FOR COOPS AND LAND BANKS. / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION.

17 TOTAL NONCORP BUSINESS TOTAL + NONCORP BUSINESS SECTOR STATEMENTS OF SAVING AND INVESTMENT I IV I NONFINANCIAL BUSINESS TOTAL INCOME BEFORE TAXES. GROSS SAVING GROSS INVESTMENT CAPITAL EXPENDITURES FIXED INVESTMENT. BUSINESS PLANT EQUIPMENT. HOME CONSTRUCTION () MULTIFAMILY RESIDENTIAL. CHANGE IN INVENTORIES MINERAL RIGHTS FROM U.S.GOVT NET FINANCIAL INVESTMENT NET ACQ. OF FINANCIAL ASSETS NET INCREASE IN LIABILITIES CORPORATE EQUITIES. CREDIT MARKET INSTRUMENTS. BONDS. MORTGAGES. BANK LOANS N.E.C. OTHER LOANS..... TRADE DEBT OTHER LIABILITIES. DISCREPANCY FARM BUSINESS NET INCOME NET SAVING CAPITAL CONSUMPTION CORPORATE NONCORPORATE. CURRENT SURP. = GROSS SAVING. GROSS INVESTMENT CAPITAL EXPENDITURES. PLANT EQUIPMENT RESIDENTIAL CONSTRUCTION CHANGE IN INVENTORIES. NET FINANCIAL INVESTMENT NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS + CURRENCY MISCELLANEOUS ASSETS INSURANCE RECEIVABLES EQ. IN SPONS. AGS. () NET INCREASE IN LIABILITIES CREDIT MARKET INSTRUMENTS MORTGAGES BANK LOANS N.E.C. OTHER LOANS U.S. GOVERNMENT FICB az.... TRADE DEBT PROPRIETOR NET INVESTMENT NONFARM NONCORPORATE BUSINESS NET INCOME? CAPITAL CONSUMPTION CURRENT SURP. = GROSS SAVING GROSS INVESTMENT CAPITAL EXPENDITURES FIXED CAPITAL PLANT EQUIPMENT HOME CONSTRUCTION () MULTIFAMILY RESIDENTIAL CHANGE IN INVENTORIES NET FINANCIAL INVESTMENT NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY CONSUMER CREDIT MISCELLANEOUS ASSETS INSURANCE RECEIVABLES EQ. IN SPONS. AGS. (). NET INCREASE IN LIABILITIES CREDIT MARKET INSTRUMENTS MORTGAGES HOME MORTGAGES MULTIFAMILY COMMERCIAL BANK LOANS N.E.C. OTHER LOANS.. TRADE DEBT NET PROPRIETOR NET INVESTMENT () FARM PLUS NONFARM CHANGE IN WORK IN PROCESS. () SHARES IN FICB'S, BANKS FOR COOPS ANO LANO BANKS. BILLIONS OF DOLLARS. / BASED ON INCOMPLETE INFORMATION.

18 / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION. NNFNANCIAL CORPORATE BUSINESS SECTOR STATEMENTS OF SAVING AND INVESTMENT NNFINANCAL CORPORATE BUSINESS UNADJUSTED NET FLOWS ($ MILL.) UNADJUSTED NET FLOWS ($ MILL.) I I IV I NNFINANCAL CORPORATE BUSINESS, " EXCLUDING BILLIONS OF DOLLARS FARMS. PROFITS BEFORE TAX PROFITS TAX ACCRUALS NET DIVIDENDS PAID = UNDISTRIBUTED PROFITS FOREIGN BRANCH PROFITS INV. VALUATION ADJUSTMENT CAP. CONSUMPTION ADJUSTMENT + CAPITAL CONSUMPTION ALLOW. = GROSS INTERNAL FUNDS GROSS INVESTMENT CAPITAL EXPENDITURES FIXED INVESTMENT PLANT + EQUIPMENT HOME CONSTRUCTION MULTIFAMILY RESIDENTIAL CHANGE IN INVENTORIES MINERAL RIGHTS FROM U.S.GOVT NET FINANCIAL INVESTMENT NET ACQ. OF FINANCIAL ASSETS ^ LIQUID ASSETS DEMAND DEP. + CURRENCY TIME DEPOSITS U.S. GOVT. SECURITIES ST.+LOC. OBLIGATIONS COMMERCIAL PAPER SECURITY R.P.'S CONSUMER CREDIT TRADE CREDIT MISCELLANEOUS ASSETS FOREIGN DIR. INVEST. () FOREIGN CURRENCIES INSURANCE RECEIVABLES EQUITY IN SPONSORED AGS. OTHER NET INCREASE IN LIABILITIES NET FUNDS RAISED IN MKTS. NET NEW EQUITY ISSUES DEBT INSTRUMENTS TAXEXEMPT BONDS () CORPORATE BONDS () MORTGAGES HOME MORTGAGES MULTIFAMILY COMMERCIAL.... _.. _ BANK LOANS N.E.C. COMMERCIAL PAPER ACCEPTANCES FINANCE COMPANY LOANS U.S. GOVERNMENT LOANS. o.l. PROFIT TAXES PAYABLE TRADE DEoT MISCELLANEOUS LIABILITIES..... DISCREPANCY.. MEMORANDUM ITEMS: EXCESS OF CAPITAL EXPENDITURES OVER GROSS INTERNAL FUNDS.. TRADE CREDIT NET OF TRADE DEBT PROFITS TAX PAYMENTS DET SUBTOTALS: () LONGTERM DEBT SHORTTERM DEBT TCTAL ST LIABILITIES PER CENT RATIOS: EFFECTIVE TAX RATE. CAPITAL OUTLAYS/INTERNAL FUNDS CR. MKT. BORROWING/CAP. EXP... CASH FLOW AND CAPITAL EXPENDITURES ON BOOK BASIS CAP. CONS. ALLOWANCE, N I A PLUS: CAP. CONS. ADJUSTMENT EQUALS: BOOK DEPRECIATION INVENTORY CHANGE, N I A LESS: INV. VAL. ADJUSTMENT EQUALS: INVENTORY CHG., BOOK.... UNDISTRIBUTED PROFITS + FOREIGN BRANCH PROFITS BOOK DEPRECIATION = GROSS INTERNAL FUNDS,BOOK GROSS INVESTMENT, BOOK CAPITAL EXPENDITURES FIXED INVESTMENT INVENTORY CHG., BOOK MINERAL RIGHTS () FOREIGN INVESTMENT IS NET OF BOND ISSUES ABROAD, AND BOND ISSUES OUTSIDE THE U.S. ARE EXCLUDED FROM SOURCES OF FUNDS ABOVE. () INDUSTRIAL POLLUTION CONTROL REVENUE BONDS. ISSUED BY STATE AND LOCAL GOVERNMENTS TO FINANCE PRIVATE INVEST MENT AND SECURED IN INTEREST AND PRINCIPAL BY THE INDUSTRIAL USER OF THE FUNOS. () MATURITY SPLIT ON DEBT IS APPROXIMATE: LT IS BONDS MF COMMERCIAL MORTGAGES, AND OF BANK LOANS. ST DEBT IS OTHEK CREDIT MARKET BORROWING. TOTAL ST LIABILITIES IS ST BORROWING TAX LIABILITIES TRADE DEBT.

19 AUGUST t NONFINANCIAL CORPORATE BUSINESS NONFINANCIAL CORPORATE BUSINESS SECTOR STATEMENTS OF SAVING AND INVESTMENT NONFINANCIAL CORPORATE BUSINESS, EXCLUDING FARMS &.. PROFITS BEFORE TAX PROFITS TAX ACCRUALS NET DIVIDENDS PAID» UNDISTRIBUTED PROFITS + FOREIGN BRANCH PROFITS + INV. VALUATION ADJUSTMENT CAP. CONSUMPTION ADJUSTMENT + CAPITAL CONSUMPTION ALLOW. = GROSS INTERNAL FUNDS GROSS INVESTMENT CAPITAL EXPENDITURES FIXED INVESTMENT PLANT + EQUIPMENT HOME CONSTRUCTION MULTIFAMILY RESIDENTIAL CHANGE IN INVENTORIES MINERAL RIGHTS FROM U.S.GOVT.. NET FINANCIAL INVESTMENT NET ACQ. OF FINANCIAL ASSETS.....Z.. LIQUID ASSETS DEMAND OEP. CURRENCY TIME DEPOSITS U.S. GOVT. SECURITIES ST.+LOC OBLIGATIONS COMMERCIAL PAPER SECURITY R.P.'S CONSUMER CREDIT TRADE CREDIT b MISCELLANEOUS ASSETS FOREIGN DIR. INVEST. () FOREIGN CURRENCIES INSURANCE RECEIVABLES EQUITY IN SPONSORED AGS. OTHER NET INCREASE IN LIABILITIES NET FUNDS RAISED IN MKTS. NET NEW EQUITY ISSUES DEBT INSTRUMENTS TAXEXEMPT BONDS () CORPORATE BONDS () MORTGAGES HOME MORTGAGES MULTIFAMILY COMMERCIAL BANK LOANS N.t.C. COMMERCIAL ACCEPTANCES PAPER FINANCE COMPANY LOANS U.S. GOVERNMENT LOANS PROFIT TAXES PAYABLE TRADE DEBT MISCELLANEOUS LIABILITIES. DISCREPANCY MEMORANDUM ITEMS: EXCESS OF CAPITAL EXPENDITURES. OVER GRUSS INTERNAL FUNDS... TRADE CREDIT NET OF TRADE DEBT PROFITS TAX PAYMENTS.... DEBT SUBTOTALS: (). LONGTERM DEBT. SHORTTERM DEBT TOTAL ST LIABILITIES..... PER CENT RATIOS: EFFECTIVE TAX RATE CAPITAL OUTLAYS/INTERNAL FUNDS CR. MKT. BORROWING/CAP. EXP. CASH FLOW AND CAPITAL EXPENDITURES ON BOOK BASIS CAP. CONS. ALLOWANCE, N I A PLUS: CAP. CONS. ADJUSTMENT EQUALS: BOOK DEPRECIATION INVENTORY CHANGE, N I A. LESS: INV. VAL. ADJUSTMENT EQUALS: INVENTORY CHG., BOOK b UNDISTRIBUTED PROFITS. FOREIGN BRANCH PROFITS BOOK DEPRECIATION. GROSS INTERNAL FUNDS,BOOK GROSS INVESTMENT, BOOK CAPITAL EXPENDITURES. FIXED INVESTMENT INVENTORY CHG., BOOK MINERAL RIGHTS () FOREIGN INVESTMENT IS NET OF BOND ISSUES ABROAD, AND BOND ISSUES OUTSIDE THE U.S. ARE EXCLUDED FROM SOURCES OF FUNDS ABOVE. () INDUSTRIAL POLLUTION CONTROL REVENUE BONOS. ISSUED BY STATE AND LOCAL GOVERNMENTS TO FINANCE PRIVATE INVEST MENT AND SECURED IN INTEREST AND PRINCIPAL BY THE INDUSTRIAL USER OF THE FUNDS. ( MATURITY SPLIT ON DEBT IS APPROXIMATE: LT IS BONOS, MF + COMMERCIAL MORTGAGES, AND OF BANK LOANS. ST DEBT IS OTHER CREDIT MARKET BORROWING. TOTAL ST LIABILITIES IS ST BORROWING TAX LIABILITIES TRADE DEBT. BILLIONS OF DOLLARS. / BASED ON INCOMPLETE INFORMATION.

20 STATE+LOCAL GOVTS. AND FOREIGN STATE+LOCAL GOVTS. AND FOREIGN UNADJUSTED NET FLOWS ( MILL.) UNADJUSTED NET FLOWS ($ MILL.) BILLIONS OF DOLLARS STATE AND LOCAL GOVERNMENTS GENERAL FUNDS () TOTAL RECEIPTS, NIA BASIS TAX RECEIPTS SOCIAL INSURANCE RECEIPTS GRANTS IN AID RECEIVED TOTAL EXPENDITURES, NIA BASIS PURCH. OF GOODS + SERVICES NET INTEREST TRANSFERS NfcT SURPLUS, NIA BASIS RETIREMENT CRtDIT TO HH GROSS SAVING...../..... NET FINANCIAL INVESTMENT NET ACQ. OF FINANCIAL ASSETS DEMAND DEP. + CURRENCY TIME DEPOSITS..../ CREDIT MARKET INSTRUMENTS U.S. GOVT. SECURITIES TREASURY ISSUES U.S. GOVT. AGENCY SEC. ST.+LOC. OBLIGATIONS MORTGAGES TAXES RECEIVABLE... l.d.x... NET INCREASE IN LIABILITIES CREDIT MARKET BORROWING ST.+LOC. OBLIGATIONS SHORTTERM OTHER....y./.... U.S. GOVERNMENT LOANS TRADE DEBT / DISCREPANCY (l)employee RETIREMENT FUNDS ARE IN INSURANCE SECTOR. REST OF THE WORLD NET U.S. EXPORTS U.S. EXPORTS U.S. IMPORTS TRANSFER RECEIPTS FROM U.S. U. S. GOVT. INTEREST RECEIVED CURRENT ACCOUNT BALANCE (U.S. oalance, SIGN REVERSED)... Z NfcT FINANCIAL INVESTMENT NET ACO. OF FINANCIAL ASSETS i GOLD + SGR'S () U.S. DEMAND DEPOSIT U.S. TIMt DEPOSITS U.S. CORPORATE EQUITIES CREDIT MARKET INSTRUMENTS U.S. GOVT. SECURITIES U.i. CORPORATE BONOS () i OPENMARKtT PAPER SECURITY CREDIT TRADE CREDIT MISCELLANEOUS ASSETS U.S. BANK LIABILITIES TO FOREIGN AFFILIATES DIk. INVESTMENT IN U.S. OTHER.. /..... IET INCREASE IN LIABILITIES U.S. UFF. FGN. EXCHANGE + NET IMF POSITION FOREIGN EQUITY ISSUES CREDIT MARKET INSTRUMENTS CORP. AND FOREIGN BONDS./ BANK LOANS N.E.C. TO FGN. OFFICIAL TO FGN. BANKS TO OTHER FGN. BANKERS ACCEPTANCES U.S.GOVT. LOANS... SECURITY DEBT TRADE DEBT MISCELLANEOUS LIABILITIES USG EQUITY IN IBRD, ETC. FGN. CURR. HELD IN U.S. U.S. DR. INV. ABROAD() OTHER.. DISCREPANCY. () CONSISTS ONLY OF NET PURCHASES FROM U.S. EXCLUDES ACQUISITIONS FROM OTHER SOURCES. () EXCLUDES U.S. SECURITY ISSUES IN FOREIGN MARKETS. / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION.

21 STATE+LOCAL GOVTS. AND FOREIGN STATE+LOCAL GOVTS. AND FOREIGN STATE AND LOCAL GOVERNMENTS GENERAL FUNDS () TOTAL RECEIPTS, NIA BASIS TAX RECEIPTS SOCIAL INSURANCE RECEIPTS GRANTS IN AID RECEIVED TOTAL EXPENDITURES, NIA BASIS PURCH. OF GOODS + SERVICES NET INTEREST TRANSFERS NET SURPLUS, NIA BASIS. RETIREMENT CREDIT TO HH = GROSS SAVING NET FINANCIAL INVESTMENT NET ACQ. OF FINANCIAL ASSETS DEMAND DEP. + CURRENCY. TIME DEPOSITS Id..^ CREDIT MARKET INSTRUMENTS U.S. GOVT. SECURITIES TREASURY ISSUES U.S. GOVT. AGENCY SEC. ST.+LOC. OBLIGATIONS MORTGAGES TAXES RECEIVABLE... lb NET INCREASE IN LIABILITIES CREDIT MARKET BORROWING ST.+LOC. OBLIGATIONS SHORTTERM OTHER... U.S. GOVERNMENT LOANS TRAOE DtBT b. DISCREPANCY (DEMPLOYEE RETIREMENT FUNDS ARE IN INSURANCE SECTOR. REST OF THE WORLD.... ^:..,....,.... i.. NET U.S. EXPORTS U.S. EXPORTS U.S. IMPORTS TRANSFER RECEIPTS FROM U.S. U. S. GOVT. INTEREST RECEIVED CURRENT ACCOUNT BALANCE (U.S. BALANCE, SIGN REVERSED) ^......,,,.. NET FINANCIAL INVESTMENT NET ACQ. OF FINANCIAL ASSETS GCLD + SDR»S (D U.S. DEMANO DtPOSITS U.S. TIME DEPOSITS...,,. _... _. _.. _ u.s. CORPORATE EQUITIES CREDIT MARKET INSTRUMENTS U.S. GOVT. SECURITIES U.S. CORPORATE BONDS () OPENMARKET PAPER SECURITY CREDIT TRADE CREDIT...b..^.M..... MISCELLANEOUS ASSETS U.S. BANK LIABILITIES TC FOREIGN AFFILIATES OIR. INVESTMENT IN U.S. OTHER..... NET INCREASE IN LIABILITIES U.S. OFF. FGN. EXCHANGE + NET IMF POSITION FOREIGN EQUITY ISSUES CREDIT MARKET INSTRUMENTS CORP. AND FOREIGN BUNDS. h.l.... BANK LOANS N.E.C. TO FGN. OFFICIAL TO FGN. BANKS TO OTHER FGN BANKERS ACCEPTANCES U.S.GOVT. LUANS SECURITY DEBT TRADE DEBT MISCELLANEOUS LIABILITIES A USG EQUITY IN IBRD, ETC. FGN. CURR. HELD IN U.S. U.S. DIR. NV. ABROAD() OTHER.. DISCREPANCY ID CONSISTS ONLY OF NET PURCHASES FROM U.S. EXCLUDES ACQUISITIONS FROM OTHER SOURCES. () EXCLUDES U.S. SECURITY ISSUES IN FOREIGN MARKETS. billions OF DOLLARS. / BASED ON INCOMPLETE INFORMATION.

22 U.S.GOVT. CREDIT AGENCIES U.S.GOVT. CREDIT AGENCIES SECTOR STATEMENTS OF SAVING AND INVESTMENT UNADJUSTED NET FLOWS ($ MILL.) UNADJUSTED NET FLOWS ($ MILL.) I BILLIONS OF DOLLARS U.S. GOVERNMENT TOTAL RECEIPTS, NIA BASIS PERSONAL TAXES PROFITS TAX CORP. ACCRUALS INDIRECT TAXES SOCIAL INSURANCE RECEIPTS TOTAL EXPENDITURES, NIA BASIS GOODS SERVICES TRANSFERS, ETC. NET INTEREST NET SURPLUS, NIA BASIS INSURANCE CREDITS TO HH GROSS SAVING + MINERAL RIGHTS SALES () = NONFINANCIAL SURPLUS..... lt> NET FINANCIAL INVESTMENT NET ACQ. OF FINANCIAL ASSETS GOLD, SDR»S + OFF FGN EXCH DEMAND DEPOSITS CURRENCY TIME DEPSIS Z.Z. CREDIT MARKET INSTRUMENTS MORTGAGE POOL SECURITIES () MORTGAGES OTHER LOANS.... TAXES RECEIVABLE TRADE CREDIT MISCELLANEOUS.... NET INCREASE IN LIABILITIES TREASURY CURR. SDR CTFS. CREDIT MARKET INSTRUMENTS SAVINGS BONDS OTHER TREASURY ISSUES AGENCY ISSUES + MTGS. LIFE RETIREMENT RESERVES TRADE DEBT MISCELLANEOUS..... DISCREPANCY MEMO: CORP. TAX RECEIPTS, NET... FEDERALLY SPONSORED CREDIT AGENCIES AND MORTGAGE POOLS SPONSORED CREDIT AGENCIES CURRENT SURPLUS NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS + CURRENCY CREDIT MARKET INSTRUMENTS LIQUID ASSETS U.S.GOVT. SECURITIES OPENMARKET PAPER FEDERAL FUNDS + RP»S... HOUSING CREDIT RESIDENTIAL MORTGAGES FHLB LOANS TO S L ASSOC.... fa. LOANS TO AGRICULTURE FARM MORTGAGES LOANS TO COOPS CBC) LOANS TO FARMERS (FICB) MISCELLANEOUS ASSETS NET INCREASE IN LIABILITIES CREDIT MARKET INSTRUMENTS SPONS. AGENCY ISSUES U.S. GOVERNMENT LOANS MISCELLANEOUS LIABILITIES. DISCREPANCY FEDERALLY SPONSORED MORTGAGE POOLS () NET ACQ. OF MORTGAGES HOME MORTGAGES MULTIFAMILY MORTGAGES FARM MORTGAGES.. NET INCR. IN POOL SECURITIES MEMO: TOTALS FOR AGENCIES AND POOLS CREDIT MARKET INSTRUMENTS LIQUID ASSETS HOUSING CREDIT LOANS TO AGRICULTURE. NET SECURITY ISSUES. () GNMA, FHLMC, AND FARMERS HOME ADM. POOLS. / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION. () Sales of Outer Continental Shelf leases. () From, mainly Federal Financing Bank purchases of Farmers Home Administration mortgage pool securities.

23 U.S.GOVT. CREDIT AGENCIES U.S.GOVT. + CREDIT AGENCIES SECTOR STATEMENTS OF SAVING AND INVESTMENT I U.S. GOVERNMENT TOTAL RECEIPTS, NIA BASIS PERSONAL TAXES CORP. PROFITS TAX ACCRUALS INDIRECT TAXES SOCIAL INSURANCE RECEIPTS TOTAL EXPENDITURES, NIA BASIS. GOODS + SERVICES TRANSFERS, ETC. NET INTEREST NET SURPLUS, NIA BASIS INSURANCE CREDITS TO HH = GROSS SAVING MINERAL RIGHTS SALES () = NONFINANCIAL SURPLUS NET FINANCIAL INVESTMENT NET ACQ. OF FINANCIAL ASSETS GOLD, SDRS OFF FGN EXCH DEMAND DEPOSITS CURRENCY TIME DEPOSITS CREDIT MARKET INSTRUMENTS MORTGAGE POOL SECURITIES () MORTGAGES OTHER LOANS.... TAXES RECEIVABLE TRADE CREDIT MISCELLANEOUS t> NET INCREASE IN LIABILITIES TREASURY CURR. SOR CTFS. CREDIT MARKET INSTRUMENTS SAVINGS BONDS OTHER TREASURY ISSUES AGENCY ISSUES + MTGS LIFE RETIREMENT RESERVES TRADE DEBT MISCELLANEOUS DISCREPANCY MEMO: CORP. TAX RECEIPTS, NET FEDERALLY SPONSORED CREDIT AGENCIES AND MORTGAGE POOLS SPONSORED CREDIT AGENCIES. CURRENT SURPLUS..... NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY CREDIT MARKET INSTRUMENTS LIQUID ASSETS. U.S.GOVT. SECURITIES. OPENMARKET PAPER FEDERAL FUNDS RP S. HOUSING CREDIT. RESIDENTIAL MORTGAGES. FHLB LOANS TO S + L ASSOC..... LOANS TO AGRICULTURE. FARM MORTGAGES LOANS TO COOPS (BO LOANS TO FARMERS (FICB) MISCELLANEOUS ASSETS. NET INCREASE IN LIABILITIES CREDIT MARKET INSTRUMENTS SPONS. AGENCY ISSUES U.S. GOVERNMENT LOANS MISCELLANEOUS LIABILITIES DISCREPANCY FEDERALLY SPONSORED MORTGAGE POOLS tl). NET ACQ. OF MORTGAGES HOME MORTGAGES MULTFAMILY MORTGAGES FARM MORTGAGES NET INCR. IN POOL SECURITIES MEMO: TOTALS FOR AGENCIES AND POOLS CREDIT MARKET INSTRUMENTS LIQUID ASSETS. HOUSING CRET LOANS TO AGRICULTURE. NET SECURITY ISSUES () GNMA, FHLMC, AND FARMERS HOME ADM. POOLS. BILLIONS OF DOLLARS. / BASED ON INCOMPLETE INFORMATION. () Sales of Outer Continental Shelf leases. () From, mainly Federal Financing Bank purchases of Farmers Home Administration mortgage pool securities.

24 BANKING SYSTEM SECTOR STATEMENTS OF SAVING AND INVESTMENT BANKING SYSTEM UNAOJUSTEO NET FLOWS ($ MILL.) UNADJUSTED NET FLOWS ($ MILL.) I I IV I BILLIONS OF DOLLARS MONETARY AUTHORITY CURRENT SURPLUS NET ACQ. OF FINANCIAL ASSETS GOLD FOREIGN EXCHANGE TREASURY CURR. SDR CTFS. F.R. FLOAT F.R. LOANS TO DOMESTIC BANKS CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES TREASURY SECURITIES AGENCY ISSUES ACCEPTANCES BANK LOANS N.E.C. MISCELLANEOUS ASSETS..... NET INCREASE IN LIABILITIES MEMBER BANK RESERVES VAULT CASH OF COML. BANKS.... DEMAND DEPOSITS + CURRENCY DUE TO U.S. GOVERNMENT DUE TO REST OF THE WORLD CURRENCY OUTSIDE BANKS MISCELLANEOUS LIABILITIES... COMMERCIAL BANKING () CURRENT SURPLUS PLANT EQUIPMENT NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY TOTAL BANK CREDIT CREDIT MARKET INSTRUMENTS U.S. GOVT. SECURITIES TREASURY ISSUES AGENCY ISSUES.. a OThER SECURITIES MTGS. ST.+LOC. OBLIGATIONS CORPORATE BONUS MORTGAGES OTHER CR. EXCL. SECURITY CONSUMER CREDIT BANK LOANS N.E.C. OPENMARKET PAPER CORPORATE EQUITIES SECURITY CREDIT VAULT CASH MEM. BANK RES. OTHER INTERBANK CLAIMS MISCELLANEOUS ASSETS.. NET INCREASE IN LIABILITIES DEMAND DEPOSITS NET U.S. GOVERNMENT OTHER.. O..... TIME DEPOSITS LARGE NEGOTIABLE CD»S OTHER AT COMMERCIAL BANKS AT FOREIGN BANKING AGS. F.R. FLOAT BORROWING AT F.R. BANKS OTHER INTERBANK CLAIMS CORPORATE EQUITY ISSUES CREDIT MARKET DEBT CORPORATE BONOS OPENMARKET PAPER FEDERAL FUNDS AND RP»S PROFIT TAXES PAYABLE MISCELLANEOUS LIABILITIES LIAB. TO FGN. AFFILIATES OTHER DISCREPANCY b tl) CONSISTS OF CHARTERED COMMERCIAL BANKS THEIR DOMESTIC AFFILIATES EDGE ACT CORPORATIONS AGENCIES OF FOREIGN BANKS AND BANKS IN U.S. POSSESSIONS. EDGE ACT CORPORATIONS AND AGENCIES OF FOREIGN BANKS APPEAR TOGETHER IN THESE TABLES AS "FOREIGN BANKING AGENCIES. / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION.

25 BANKING SYSTEM BANKING SYSTEM SECTOR STATEMENTS OF SAVING AND INVESTMENT MONETARY AUTHORITY CURRENT SURPLUS.. NET ACQ. OF FINANCIAL ASSETS GOLD + FOREIGN EXCHANGE TREASURY CURR. SDR CTFS. F.R. FLOAT F.R. LOANS TO DOMESTIC BANKS..... CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES TREASURY SECURITIES AGENCY ISSUES ACCEPTANCES BANK LOANS N.E.C. MISCELLANEOUS ASSETS.. NET INCREASE IN LIABILITIES MEMBER BANK RESERVES. VAULT CASH OF COML. BANKS.... OEMAND DEPOSITS CURRENCY DUE TO U.S. GOVERNMENT DUE TO REST OF THE WORLD CURRENCY OUTSIDE BANKS MISCELLANEOUS LIABILITIES COMMERCIAL BANKING (). CURRENT SURPLUS PLANT EQUIPMENT NET ACQ. OF FINANCIAL ASSETS OEMANO DEPOSITS + CURRENCY TOTAL BANK CREDIT CREDIT MARKET INSTRUMENTS U.S. GOVT. SECURITIES TREASURY ISSUES AGENCY ISSUES OTHER SECURITIES + MTGS. ST.LOG. OBLIGATIONS CORPORATE BONDS MORTGAGES OTHER CR. EXCL. SECURITY CONSUMER CREDIT BANK LOANS N.E.C. OPENMARKET PAPER CORPORATE EQUITIES SECURITY CREDIT NET INCREASE IN LIABILITIES DEMAND DEPOSITS, NET U.S. GOVERNMENT OTHER VAULT CASH MEM. BANK RES. OTHER INTERBANK CLAIMS MISCELLANEOUS ASSETS TIME DEPOSITS LARGE NEGOTIABLE CD«S OTHER AT COMMERCIAL BANKS AT FOREIGN BANKING AGS. F.R. FLOAT BORROWING AT F.R. BANKS OTHER INTERBANK CLAIMS... A.. CORPORATE EQUITY ISSUES CREOIT MARKET DEBT CORPORATE BONDS OPENMARKET PAPER FEDERAL FUNDS AND RP'S PROFIT TAXES PAYABLE MISCELLANEOUS LIABILITIES LIAB. TO FGN. AFFILIATES OTHER. DISCREPANCY () CONSISTS OF CHARTERED COMMERCIAL BANKS, THEIR DOMESTIC AFFILIATES, EDGE ACT CORPORATIONS, AGENCIES OF FOREIGN BANKS, AND BANKS IN U.S. POSSESSIONS. EDGE ACT CORPORATIONS AND AGENCIES OF FOREIGN BANKS APPEAR TOGETHER IN THESE TABLES AS "FOREIGN BANKING AGENCIES." BILLIONS OF DOLLARS. / BASED ON INCOMPLETE INFORMATION.

26 AUGUST t COMMERCIAL BANKING SUBSECTORS COMMERCIAL BANKING SUBSECTORS SUBSECTOR STATEMENTS FOR COMPONENT GROUPS IN COMMERCIAL BANKING UNADJUSTED NET FLOWS ($ MILL.) UNADJUSTED NET FLOWS ($ MILL.) BILLIONS OF DOLLARS COMMERCIAL BANKS CURRENT SURPLUS PLANT + EQUIPMENT NET ACQ. OF FINANCIAL ASSETS TOTAL BANK CREDIT CREDIT MARKET INSTRUMENTS U.S. GOVT. SECURITIES TREASURY ISSUES AGENCY ISSUES OTHER SECURITIES + MTGS. ST.+LOC. OBLIGATIONS CORPORATE BONDS MORTGAGES OTHER CR. EXCL. SECURITY CONSUMER CREDIT BANK LOANS N.E.C. OPENMARKET PAPER SECURITY CREDIT INTERBANK CLAIMS VAULT CASH + MEM. BK. RES. DEP. AT FGN. BANKING AGS. LOANS TO FGN. BANKING AGS. MISCELLANEOUS ASSETS t>o t>l NET INCREASE IN LIABILITIES DEMAND DEPOSITS, NET. U.S. GOVERNMENT OTHER TIME DEPOSITS LARGE NEGOTIABLE CD'S OTHER. CORPORATE EQUITIES CORPORATE BONDS SECURITY R.P.'S PROFIT TAXES PAYABLE INTERBANK LIABILITIES F.R. FLOAT BORROWING AT F.R. BANKS DEM. DEP. OF FGN. BK. AGS. TIME DEP. OF FGN. BK. AGS. LOANS FROM AFFILIATES LOANS FROM FGN. BK. AGS. MISCELLANEOUS LIABILITIES LIAB. TO FOREIGN BRANCHES OTHER.... B #...!.....H..l... DISCREPANCY DOMESTIC AFFILIATES OF COMMERCIAL BANKS NET ACQ. OF FINANCIAL ASSETS BANK LOANS N.E.C. LOANS TO AFFILIATE BANKS NET INCREASE IN LIABILITIES COMMERCIAL PAPER ISSUES MISCELLANEOUS LIABILITIES EDGE ACT CORPORATIONS AND AGENCIES OF FOREIGN BANKS NET ACQ. OF FINANCIAL ASSETS CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES STATE + LOCAL OBLIGATIONS CORPORATE BONDS BANK LOANS N.E.C. OPENMARKET PAPER. CORPORATE EQUITIES SECURITY CREDIT DEM. DEPOSITS AT COML. BANKS TIME DEPOSITS AT COML. BANKS LOANS TO BANKS MISCELLANEOUS ASSETS NET INCREASE IN LIABILITIES DEMAND DEP. IN MONEY STOCK TIME DEPOSITS DEPOSITS OF BANKS LLANS FROM BANKS MISCELLANEOUS LIABILITIES DUE TO FOREIGN AFFILIATES OTHER. BANKS IN U.S. POSSESSIONS NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES STATE LOCAL OBLIGATIONS CORPORATE BONDS HOME MORTGAGES COMMERCIAL MORTGAGES MISCELLANEOUS ASSETS J. NET INCREASE IN DEPOSIT LIAB. / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION.

27 COMMERCIAL BANKING SUBS CTORS COMMERCIAL BANKING SUBSECTORS SUBSECTOR STATEMENTS FOR COMPONENT GROUPS IN COMMERCIAL BANKING! I IV I COMMERCIAL BANKS. CURRENT SURPLUS PLANT + EQUIPMENT NET ACQ. OF FINANCIAL ASSETS TOTAL BANK CREOIT CREDIT MARKET INSTRUMENTS U.S. GOVT. SECURITIES TREASURY ISSUES AGENCY ISSUES.... OTHER SECURITIES MTGS. ST.+LOC. OBLIGATIONS CORPORATE BONDS MORTGAGES OTHER CR. EXCL. SECURITY CONSUMER CREDIT BANK LOANS N.E.C. OPENMARKET PAPER SECURITY CREDIT INTERBANK CLAIMS VAULT CASH + MEM. BK. RES. DEP. AT FGN. BANKING AGS. LOANS TO FGN. BANKING AGS. MISCELLANEOUS ASSETS NET INCREASE IN LIABILITIES DEMAND DEPOSITS, NET U.S. GOVERNMENT OTHER..... TIME DEPOSITS LARGE NEGOTIABLE OTHER CD'S... ~ CORPORATE EQUITIES CORPORATE BONDS SECURITY R.P.»S PROFIT TAXES PAYABLE INTERBANK LIABILITIES F.R. FLOAT BORROWING AT F.R. BANKS o OEM. DEP. OF FGN. BK. AGS. TIME DEP. OF FGN. BK. AGS. LOANS FROM AFFILIATES LOANS FROM FGN. BK. AGS MISCELLANEOUS LIABILITIES LAB. TO FOREIGN BRANCHES OTHER... DISCREPANCY DOMESTIC AFFILIATES OF COMMERCIAL BANKS.. ~. ~ ~ ~ ~. " NET ACQ. OF FINANCIAL ASSETS BANK LOANS N.E.C. LOANS TO AFFILIATE BANKS NET INCREASE IN LIABILITIES COMMERCIAL PAPER ISSUES MISCELLANEOUS LIABILITIES EDGE ACT CORPORATIONS AND AGENCIES OF FOREIGN BANKS NET ACQ. OF FINANCIAL ASSETS CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES STATE LOCAL OBLIGATIONS CORPORATE BONDS BANK LOANS N.E.C. OPENMARKET PAPER.. CORPORATE EQUITIES SECURITY CREDIT DEM. DEPOSITS AT COML. BANKS TIME DEPOSITS AT COML. BANKS LOANS TO BANKS MISCELLANEOUS ASSETS.. ~ NET INCREASE IN LIABILITIES DEMANO DEP. IN MONEY STOCK TIME DEPOSITS DEPOSITS OF BANKS LOANS FROM BANKS.. MISCELLANEOUS LIABILITIES DUE TO FOREIGN AFFILIATES OTHER BANKS IN U.S. POSSESSIONS. NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS + CURRENCY CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES STATE + LOCAL OBLIGATIONS CORPORATE BONDS HOME MORTGAGES COMMERCIAL MORTGAGES MISCELLANEOUS ASSETS BILLIONS OF DOLLARS... / BASED ON INCOMPLETE INFORMATION.. NET INCREASE IN DEPOSIT LIAB.

28 AUGUST NONBANK FINANCE SUMMARY NONBANK FINANCE SUMMARY PRIVATE NONBANK FINANCIAL INSTITUTIONS UNADJUSTEO NET FLOWS ($ MILL.) UNADJUSTED NET FLOWS ($ MILL.) BILLIONS OF DOLLARS PRIVATE NONBANK FINANCIAL INSTITUTIONS CURRENT SURPLUS PHYSICAL INVESTMENT NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY TIME SVGS. ACCOUNTS CORPORATE EQUITIES CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES ST.+LOC. OBLIGATIONS CORPORATE + FOREIGN BONDS MORTGAGES CONSUMER CREDIT OTHER LOANS.... t> SECURITY CREDIT TRADE CREDIT MISCELLANEOUS ASSETS... NET INCREASE IN LIABILITIES TIME + SAVINGS ACCOUNTS INSURANCE PENSION RESERVES CORPORATE EQUITY ISSUES () CREDIT MARKET INSTRUMENTS CORPORATE BONDS MORTGAGE LOANS IN PROCESS OTHER MORTGAGES BANK LOANS N.E.C. OPENMARKET PAPER MONEY MARKET FUND SHARES FHLB LOANS SECURITY RP»S SECURITY CREDIT PROFIT TAXES PAYABLE MISCELLANEOUS LIABILITIES ~. ~ ~.. ~.. DISCREPANCY () INCLUDES INVESTMENT COMPANY SHARES. SAVINGS INSTITUTIONS COMBINED CURRENT SURPLUS. NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY TIME DEPOSITS.... CORPORATE EQUITIES CREDIT MARKET INSTRUMENTS U.S. GOVT. SECURITIES STATE AND LOCAL GOVT. SEC. CORPORATE BONDS... MORTGAGES HOME MORTGAGES MULTIFAMILY COMMERCIAL FARM... CONSUMER INSTALMENT CREDIT CONSUMER NONINSTAL. CREDIT MONEY MARKE INSTR. MISCELLANEOUS ASSETS NET INCREASE IN LIABILITIES SAVINGS ACCOUNTS CR. MKT. INSTR. (SVGS+LN) PROFIT TAX LIABILITY MISCELLANEOUS LIABILITIES llts..... DISCREPANCY / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION.

29 AUGUST» NONBANK FINANCE SUMMARY NONBANK FINANCE SUMMARY PRIVATE NONBANK FINANCIAL INSTITUTIONS I I IV I I PRIVATE NONBANK FINANCIAL INSTITUTIONS TOTAL.. CURRENT SURPLUS PHYSICAL INVESTMENT..... NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY TIME SVGS. ACCOUNTS " CORPORATE EQUITIES CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES ST.+LOC. OBLIGATIONS CORPORATE + FOREIGN BONDS MORTGAGES CONSUMER CREDIT OTHER LOANS.. SECURITY CREDIT TRADE CREDIT MISCELLANEOUS ASSETS NET INCREASE IN LIABILITIES TIME SAVINGS ACCOUNTS INSURANCE + PENSION RESERVES CORPORATE EQUITY ISSUES () CREDIT MARKET INSTRUMENTS CORPORATE MORTGAGE OTHER BONDS LOANS IN PROCESS MORTGAGES BANK LOANS N.E.C. OPENMARKET PAPER MONEY MARKET FUND SHARES FHLB SECURITY SECURITY LOANS RP«S CREDIT PROFIT TAXES PAYABLE MISCELLANEOUS LIABILITIES DISCREPANCY () INCLUDES INVESTMENT COMPANY SHARES. SAVINGS INSTITUTIONS COMBINED CURRENT SURPLUS NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY TIME DEPOSITS CORPORATE EQUITIES CREDIT MARKET INSTRUMENTS U.S. GOVT. SECURITIES STATE AND LOCAL CORPORATE BONDS GOVT. SEC MORTGAGES HOME MORTGAGES MULTIFAMILY COMMERCIAL FARM CONSUMER INSTALMENT CREDIT CONSUMER NONINSTAL. CREDIT MONEY MARKET NSTR. MISCELLANEOUS ASSETS NET INCkEASE IN LIABILITIES SAVINGS ACCOUNTS CR. MKT. INSTR. (SVGS+LN) PROFIT TAX LIABILITY MISCELLANEOUS LIABILITIES. DISCREPANCY BILLIONS OF DOLLARS. / BASED ON INCOMPLETE INFORMATION.

30 SAVINGS INSTITUTIONS SAVINGS INSTITUTIONS SECTOR STATEMENTS OF SAVING AND INVESTMENT UNADJUSTED NET FLOWS ($ MILL.) UNADJUSTED NET FLOWS ($ MILL.) I BILLIONS OF DOLLARS SAVINGS AND LOAN ASSOCIATIONS CURRENT SURPLUS NET ACQ. OF FINANCIAL ASSETS MORTGAGES CONSUMER CREDIT OTHER ASSETS DEMAND DEPOSITS + CURRENCY TIME DEPOSITS U.S. TREASURY SECURITIES U.S.G. AGENCY SEC. STATE+LOCAL GOVT SEC. OPENMARKET PAPER FED. FUNDS + RP'S MISCELLANEOUS b. NET INCREASE IN LIABILITIES SAVINGS SHARES CREDIT MARKET INSTRUMENTS CORPORATE BONDS MORTGAGE LOANS IN PROCESS BANK LOANS N.E.C. FHL ADVANCES SECURITY RP»S PROFIT TAXES PAYABLE MISCELLANEOUS LIABILITIES lto DISCREPANCY MEMO: ACQ. OF CREDIT MKT. INST. MUTUAL SAVINGS BANKS CURRENT SURPLUS NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS + CURRENCY TIME DEPOSITS.. CORPORATE fcqultles CREDIT MARKET INSTRUMENTS U.S. TREASURY SECURITIES U.S.G. AGENCY SEC. STATE LOCAL OBLIGATIONS CORPORATE BONDS. MORTGAGES CONSUMER CREDIT COMMERCIAL PAPER SECURITY RP»S MISCELLANEOUS ASSETS.. ~.l SAVINGS DEPOSITS MISCELLANEOUS LIABILITIES.. DISCREPANCY CREDIT UNIONS CURRENT SURPLUS NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY TIME DEPOSITS SAVINGS LOAN SHARES CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES HOME MORTGAGES CONSUMER CREDIT,,... CREDIT UNION SHARES. / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION.

31 AUGUST t SAVINGS INSTITUTIONS SAVINGS INSTITUTIONS SECTOR STATEMENTS OF SAVING ANO INVESTMENT I SAVINGS AND LOAN ASSOCIATIONS CURRENT SURPLUS I.e IET ACQ. OF FINANCIAL ASSETS MORTGAGES CONSUMER CREDIT OTHER ASSETS DEMAND DEPOSITS CURRENCY TIME DEPOSITS U.S. TREASURY SECURITIES U.S.G. AGENCY SEC. STATE+LOCAL GOVT SEC. OPENMARKET PAPER FED. FUNDS RP'S MISCELLANEOUS NET INCREASE IN LIABILITIES SAVINGS SHARES CRET MARKET INSTRUMENTS CORPORATE BONDS MORTGAGE LOANS IN PROCESS BANK LOANS N.E.C. FHL ADVANCES SECURITY RP«S PROFIT TAXES PAYABLE MISCELLANEOUS LIABILITIES tepancy.... MEMO: ACQ. OF CREDIT MKT. INST MUTUAL SAVINGS BANKS CURRENT SURPLUS LO NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY TIME DEPOSITS CORPORATE EQUITIES CREDIT MARKET INSTRUMENTS U.S. TREASURY SECURITIES U.S.G. AGENCY SEC. STATE LOCAL OBLIGATIONS CORPORATE BONDS LI L L L L. MORTGAGES. CONSUMER CREDIT. COMMERCIAL PAPER SECURITY kp«s MISCELLANEOUS ASSETS L... SAVINGS DEPOSITS. MISCELLANEOUS LIABILITIES L DISCREPANCY CREDIT UNIONS... BILLIONS OF DOLLARS... / BASED ON INCOMPLETE INFORMATION.. CURRENT SURPLUS. NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY TINE DEPOSITS. SAVINGS LOAN SHARES CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES HOME MORTGAGES. CONSUMER CREDIT CREDIT UNION SHARES

32 AUGUST INSURANCE PENSION FUNDS INSURANCE PENSION FUNDS UNADJUSTED NET FLOWS ( MILL.) SECTOR STATEMENTS OF SAVING AND INVESTMENT I IV UNADJUSTED NET FLOWS (S MILL.) BILLIONS OF DOLLARS LIFE INSURANCE COMPANIES CURRENT SURPLUS PHYSICAL INVESTMENT NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS + CURRENCY CORPORATE EQUITIES CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES STATE LOCAL OBLIGATIONS CORPORATE BONDS MORTGAGES OPENMARKET PAPER POLICY LOANS MISCELLANEOUS ASSETS NET INCREASE IN LIABILITIES LIFE INSURANCE RESERVES PENSION FUND RESERVES PROFIT TAXES PAYABLE MISCELLANEOUS LIABILITIES.. i DISCREPANCY PRIVATE PENSION FUNDS NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY TIME DEPOSITS. CORPORATE EQUITIES CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES CORPORATE BONDS MORTGAGES MISCELLANEOUS ASSETS <»... STATE LOCAL GOVERNMENT EMPLOYEE RETIREMENT FUNDS NET ACQ. OF FINANCIAL ASSETS. DEMAND DEPOSITS CURRENCY CORPORATE EQUITIES CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES TREASURY AGENCY ISSUES STATE LOCAL OBLIGATIONS CORPORATE BUNDS MORTGAGES. OTHER INSURANCE COMPANIES CURRENT SURPLUS NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY CORPORATE EQUITIES CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES STATE LOCAL OBLIGATIONS CORPORATE BONDS COMMERCIAL MORTGAGES TRADE CREDIT. NET INCREASE IN LIABILITIES CORPORATE EQUITY ISSUES PROFIT TAXES PAYABLE POLICY PAYABLES.. DISCREPANCY / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION

33 AUGUST. INSURANCE PENSION FUNDS SECTOR STATEMENTS OF SAVING AND INVESTMENT INSURANCE PENSION FUNDS I I IV I LIFE INSURANCE COMPANIES CURRENT SURPLUS PHYSICAL INVESTMENT... NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY CORPORATE EQUITIES CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES STATE LOCAL OBLIGATIONS. CORPORATE BONDS MORTGAGES. OPENMARKET PAPER. POLICY LOANS MISCELLANEOUS ASSETS..... NET INCREASE IN LIABILITIES. LIFE INSURANCE RESERVES. PENSION FUND RESERVES PROFIT TAXES PAYABLE MISCELLANEOUS LIABILITIES DISCREPANCY PRIVATE PENSION FUNDS NET ACQ. OF FINANCIAL ASSETS _ DEMAND DEPOSITS CURRENCY TIME DEPOSITS CORPORATE EQUITIES CREDIT MARKET INSTRUMENTS. U.S. GOVERNMENT SECURITIES. CORPORATE BONDS MORTGAGES MISCELLANEOUS ASSETS STATE LOCAL GOVtRNMENT EMPLOYEE RETIREMENT FUNDS. NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS + CURRENCY CORPORATE EQUITIES CREDIT MARKfcT INSTRUMENTS U.S. GOVERNMENT SECURITIES TREASURY AGENCY ISSUES STATE LOCAL OBLIGATIONS CORPORATE BONDS MORTGAGES OTHER INSURANCE COMPANIhS.. CURRENT SURPLUS, h.l.... NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY CORPORATE EQUITIES CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES STATE LOCAL OBLIGATIONS CORPORATE BONDS COMMERCIAL MORTGAGES TRADE CREDIT.. BILLIONS OF DOLLARS / BASED ON INCOMPLETE INFORMATION... NET INCREASE IN LIABILITIES CORPORATE EQUITY ISSUES PROFIT TAXES PAYABLE POLICY PAYABLtS DISCREPANCY

34 AUGUST t FINANCE N.E.C. FINANCE N.E.C. SECTOR STATEMENTS OF SAVING AND INVESTMENT UNADJUSTEO NET FLOWS ( MILL.) UNADJUSTED NET FLOWS ($ MILL.) I I IV I BILLIONS OF DOLLARS CURRENT SURPLUS OF GROUP FINANCE COMPANIES NET ACQ. OF FINANCIAL ASSETS DEMAND OEPOSITS + CURRENCY CREDIT MARKET INSTRUMENTS MORTGAGES CONSUMER CREDIT OTHER LOANS {TO BUSINESS)... NET INCREASE IN LIABILITIES CREDIT MARKET INSTRUMENTS CORPORATE BONDS BANK LOANS N.E.C. OPENMARKET PAPER PROFIT TAXES PAYABLE MISCELLANEOUS LIABILITIES REAL ESTATE INVESTMENT TRUSTS PHYSICAL INVESTMENT MULTIFAMILY STRUCTURES NONRESIDENTIAL STRUCTURES NET ACQ. OF FINANCIAL ASSETS HOME MORTGAGES MULTIFAMILY MORTGAGES COMMERCIAL MORTGAGES MISCELLANEOUS ASSETS... NET INCREASE IN LIABILITIES CORPORATE EQUITY ISSUES CREDIT MARKET INSTRUMENTS MORTGAGES MULTIFAMILY RESIDENTIAL COMMERCIAL... CORPORATE BONDS BANK LOANS N.E.C. OPENMARKET PAPER MISCELLANEOUS LIABILITIES OPENEND INVESTMENT COMPANIES CURRENT SURPLUS NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY CORPORATE EQUITIES CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES CORPORATE BONOS OPENMARKET PAPER.. NET SHARE ISSUES.. MONEY MARKET FUNDS NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY TIME DEPOSITS CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES OPENMARKET PAPER MISCELLANEOUS NET SHARE ISSUES SECURITY BROKERS AND DEALERS NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY CORPORATE EQUITIES CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES STATE LOCAL OBLIGATIONS CORPORATE BONDS SECURITY CREDIT..... NET INCREASE IN LIABILITIES SECURITY CREDIT FROM BANKS CUSTOMER CREDIT BALANCES PROFIT TAXES PAYABLE. / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION....

35 AUGUST FINANCE N.E.C. SEASONALLY AOJUSTED ANNUAL RATES SECTOR STATEMENTS OF SAVING AND INVESTMENT FINANCE N.E.C. I I IV.. ( CURRENT SURPLUS OF GROUP FINANCE COMPANIES NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY. CREDIT MARKET INSTRUMENTS MORTGAGES CONSUMER CREDIT OTHER LOANS (TO BUSINESS! NET INCREASE IN LIABILITIES. CREDIT MARKET INSTRUMENTS CORPORATE BONDS BANK LOANS N.E.C.. OPENMARKET PAPER PROFIT TAXES PAYABLE MISCELLANEOUS LIABILITIES REAL ESTATE INVESTMENT TRUSTS.. PHYSICAL INVESTMENT MULTIFAMILY STRUCTURES NONRESIDENTIAL STRUCTURES.. _....<.. OPENENO INVESTMENT COMPANIES.... NET ACQ. OF FINANCIAL ASSETS HOME MORTGAGES MULTIFAMILY MORTGAGES COMMERCIAL MORTGAGES MISCELLANEOUS ASSETS NET INCREASE IN LIABILITIES CORPORATE EQUITY ISSUES CREDIT MARKET INSTRUMENTS MORTGAGES MULTIFAMILY RESIDENTIAL COMMERCIAL CORPORATE BONDS BANK LOANS N.E.C. OPENMARKET PAPER MISCELLANEOUS LIABILITIES CURRENT SURPLUS. NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY CORPORATE EQUITIES CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES. CORPORATE BONOS OPENMARKET PAPER NET SHARE ISSUES MONEY MARKET FUNDS. NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY. TIME DEPOSITS CREDIT MARKET INSTRUMENTS. U.S. GOVERNMENT SECURITIES OPENMARKET PAPER MISCELLANEOUS NET SHARE ISSUES SECURITY BROKERS AND DEALERS. BILLIONS OF DOLLARS / BASED ON INCOMPLETE INFORMATION NET ACQ. OF FINANCIAL ASSETS DEMAND DEPOSITS CURRENCY. CORPORATE EQUITIES CREOIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES STATE LOCAL OBLIGATIONS CORPORATE BONOS SECURITY CREDIT NET INCREASE IN LIABILITIES SECURITY CREDIT FROM BANKS CUSTOMER CREDIT BALANCES PROFIT TAXES PAYABLE

36 MONETARY AND INSURANCE RESERVES MONETARY ANO INSURANCE RESERVES GOLD, OFFICIAL FOREIGN EXCHANGE, TREASURY CURRENCY, AND INSURANCE RESERVES UNADJUSTED NET FLOWS ($ MILL.) UNAOJUSTED NET FLOWS ($ MILL.) I BILLIONS OF DOLLARS GOLD AND OFFICIAL FOREIGN EXCHANGE HOLDINGS () TOTAL U.S. RESERVES. U.S. GOLD STOCK AND SDR'S U.S. GOVT. EX. STAB. FUND MONETARY AUTHORITY (). U.S. FOREIGN EXCHANGE POSITION OFFICIAL FGN. CURRENCY HLDGS TREASURY MONETARY AUTHORITY NET IMF POSITION U.S. GOVERNMENT ASSET MONETARY AUTHORITY.. TREASURY CURRENCY ANO SDR CERTIFICATES TOTAL U.S. GOVT. LIABILITY MONETARY AUTHORITY ASSET UNALLOCATED ASSETS INSURANCE AND PENSION FUND RESERVES LIFE INSURANCE RESERVES: NET CHANGE IN LIABILITIES U.S. GOVERNMENT LIFE INSURANCE COMPANIES. NET CHANGE IN ASSETS (HH) PENSION FUND RESERVES: NET CHANGE IN LIABILITIES U.S. GOVERNMENT INSURANCE SECTOR LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS ST.+LOC. GOVT, RTR. FUNDS NET CHANGE IN ASSETS (HH). INTERBANK CLAIMS NET CHANGE IN LIABILITIES MONE. AUTH. MEM. BANK RES. VAULT CASH NET CHANGE IN ASSETS COMMERCIAL BANKING TOTAL COMMERCIAL BANKS TO MONETARY AUTHORITIES LOANS FROM AFFILIATES LOANS FROM FGN. BK. AG. DEM. DEP. OF FGN. BK. AG TIME DEP. OF FGN. BK. AG FOREIGN BANKING DEPOSITS OF BANKS BANK LOANS MONETARY AUTHORITIES F.R. FLOAT LOANS TO MEMBER BANKS COMMERCIAL BANKING TOTAL COMMERCIAL BANKS MEMBER BANK RESERVES VAULT CASH DEPOSITS AT FGN. BK. AG. LOANS TO FGN. BK. AGS. BANK AFFILIATES LOANS TO AFFILIATE BANKS FOREIGN BANKING AGENCIES DEMAND DEPOSITS AT BANKS TIME DEPOSITS AT BANKS LOANS TO BANKS AGENCIES. t».. () LINES + EXCLUDE INITIAL ALLOCATION OF SDR'S OF $ MILLION IN JANUARY, $ MILLION IN JANUARY, AND $ MILLION IN JANUARY. TRANSACTIONS IN SDR'S ARE IN LINE. ALSO EXCLUDED FROM THE TABLE ARE REVALUATIONS OF FOREIGN CURRENCY HOLDINGS, GOLD, SDR'S, ANO IMF POSITION. THESE ALLOCATIONS AND REVALUATIONS ARE REFLECTED IN TABLES ON OUTSTANDINGS. () TREASURY GOLD STOCK. / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION. b

37 MONETARY AND INSURANCE RESERVES MONETARY AND INSURANCE RESERVES GOLD. OFFICIAL FOREIGN EXCHANGE, TREASURY CURRENCY AND INSURANCE RESERVES I I IV GOLD AND OFFICIAL FOREIGN EXCHANGb HOLDINGS () TOTAL U.S. RESERVES U.S. GOLD STOCK AND SDR'S U.S. GOVT. EX. STAB. FUND MONETARY AUTHORITY U) U.S. FOREIGN EXCHANGE POSITION OFFICIAL FGN. CURRENCY HLDGS TREASURY MONETARY AUTHORITY NET IMF POSITION U.S. GOVERNMENT ASSET MONETARY AUTHORITY TREASURY CURRENCY AND SDR CERTIFICATES. TOTAL U.S. GOVT. LIABILITY MONETARY AUTHORITY ASSET UNALLOCATED ASSETS INSURANCE AND PENSION FUND RESERVES.. LIFE INSURANCE RESERVES: NET CHANGE IN LIABILITIES U.S. GOVERNMENT. LIFE INSURANCE COMPANIES. NET CHANGE IN ASSETS <HH> PENSION FUND RESERVES: NET CHANGE IN LIABILITIES.. U.S. GOVERNMENT INSURANCE SECTOR LIFE INSURANCE COMPANIES. PRIVATE PENSION FUNDS ST.LOG. GOVT RTR. FUNOS NET CHANGE IN ASSETS IHH) INTERBANK CLAIMS. NET CHANGE IN LIABILITIES l.h.. MONE. AUTH. MEM. BANK RES. VAULT CASH COMMERCIAL BANKING TOTAL COMMERCIAL BANKS TO MONETARY AUTHORITIES LOANS FROM AFFILIATES LOANS FROM FGN. BK. AG. DEM. DEP. OF FGN. BK. AG TIME DEP. OF FGN. BK. AG.... FOREIGN BANKING AGENCIES DEPGSITS OF BANKS BANK LOANS. NET CHANGE IN ASSETS. MONETARY AUTHORITIES F.R. FLOAT LOANS TO MEMBER BANKS " COMMERCIAL BANKING TOTAL COMMERCIAL BANKS MEMBER BANK RESERVES VAULT CASH DEPOSITS AT FGN. BK. AG. LOANS TO FGN. BK. AGS. BANK AFFILIATES LOANS TO AFFILIATE BANKS FOREIGN BANKING AGENCIES DEMAND DEPOSITS AT BANKS TIME DEPOSITS AT BANKS LOANS TO BANKS () LINES EXCLUDE INITIAL ALLOCATION OF SDR'S OF $ MILLION IN JANUARY, $ MILLION IN JANUARY, AND $ MILLION IN JANUARY. TRANSACTIONS IN SDR'S ARE IN LINE. ALSO EXCLUDED FROM THE TABLE ARE REVALUATIONS OF FOREIGN CURRENCY HOLDINGS GOLD SDR AND IMF POSITION. THESE ALLOCATIONS AND REVALUATIONS ARE REFLECTED IN TABLES ON OUTSTANDINGS. () TREASURY GOLD STOCK. BILLIONS OF DOLLARS. / BASED ON INCOMPLETE INFORMATION.

38 MONEY AND DEPOSITS SUMMARY UNADJUSTED NET FLOWS ($ MILL.I MONEY STOCK AND TIME AND SAVINGS ACCOUNTS I I IV I DEMAND DEPOSITS AND CURRENCY MONEY AND DEPOSITS SUMMARY UNADJUSTED NET FLOWS ( MILL.) BILLIONS OF DOLLARS NET CHANGE IN ASSETS MONEY STOCK REST OF THE WORLD DOMESTIC SECTORS HOUSEHOLDS NNFINANCAL BUSINESS ST.+LOC. GOVERNMENTS FINANCIAL SECTORS MAIL FLOAT U.S. GOVERNMENT NET CHANGE IN BKG. SYSTEM LIAB MONETARY AUTHORITIES U.S. GOVT. CASH DEPOSITS FOREIGN DEPOSITS CURRENCY COMMERCIAL BANKING U.S. GOVERNMENT DEPOSITS FOREIGN DEPOSITS PRIVATE DOMESTIC.. l.l TIME EPSTS AND SAVINGS ACCOUNTS..... k.z. l.l. NET CHANGE TOTAL COMMERCIAL BANKING LIABILITY LARGE NEGOTIABLE CD'S OTHER AT COMMERCIAL BANKS LARGE SMALL AT FOREIGN BANKING AGS. ACQUIRED BYt HOUSEHOLDS NONFIN. CORPORATE BUSINESS STATE LOCAL GOVERNMENTS FOREIGN U.S. GOVERNMENT FINANCIAL INSTITUTIONS SVGS.+LN. ASSOC. MUTUAL SAVINGS BANKS CREDIT UNIONS PRIVATE PENSION FUNDS MONEY MARKET FUNDS AT SAVINGS INSTITUTIONS MUTUAL SAVINGS BANKS CRET UNIONS SAVINGS LOAN ASSNS. HELD BY: HOUSEHOLDS CREDIT UNIONS MEMOS TOTAL OF HOUSEHOLDS TIME SAVINGS ACCOUNTS ~ Zi. / BASEO ON PRELIMINARY AND INCOMPLETE INFORMATION.

39 MONEY AND DEPOSITS SUMMARY MONEY STOCK AND TIME AND SAVINGS ACCOUNTS MONEY AND DEPOSITS SUMMARY DEMAND DEPOSITS AND CURRENCY NET CHANGE IN ASSETS MONEY STOCK REST OF THE WORLD DOMESTIC SECTORS HOUSEHOLDS NNFINANCAL BUSINESS ST.+LOC. GOVERNMENTS FINANCIAL SECTORS MAIL FLOAT. U.S. GOVERNMENT ~.l.... NET CHANGE IN BKG. SYSTEM LIAB MONETARY AUTHORITIES U.S. GOVT. CASH + DEPOSITS FOREIGN DEPOSITS. CURRENCY.... COMMERCIAL BANKING U.S. GOVERNMENT DEPOSITS FOREIGN DEPOSITS PRIVATE DOMESTIC TIME DEPOSITS AND SAVINGS ACCOUNTS NET CHANGE TOTAL l.l COMMERCIAL BANKING LIABILITY LARGE NEGOTIABLE CD'S OTHER AT COMMERCIAL BANKS LARGE SMALL AT FOREIGN BANKING AGS. ACQUIRED BY: HOUSEHOLDS NONFIN. CORPORATE BUSINESS STATE LOCAL GOVERNMENTS FOREIGN U.S. GOVERNMENT t>.. FINANCIAL INSTITUTIONS SVGS.+LN. ASSOC. MUTUAL SAVINGS BANKS CREDIT UNIONS PRIVATE PENSION FUNOS MONEY MARKET FUNDS AT SAVINGS INSTITUTIONS MUTUAL SAVINGS BANKS CREDIT UNIONS SAVINGS + LOAN ASSNS. i.z HELD BY: HOUSEHOLDS CREDIT UNIONS MEMO: TOTAL OF HOUSEHOLDS TIME SAVINGS ACCOUNTS BILLIONS OF DOLLARS. / BASED ON INCOMPLETE INFORMATION.

40 AUGUST, U.S. GOVT. SECURITIES U.S. GOVT. SECURITIES U.S. GOVERNMENT SECURITIES MARKET SUMMARY UNADJUSTED NET FLOWS ( MILL.) UNADJUSTED NET FLOWS ($ MILL.) BILLIONS OF DOLLARS TOTAL NET ISSUES, BY SECTOR AND TYPE TOTAL U.S.GOVERNMENT SECUR. U.S. GOVERNMENT SPON. AGENCIES + MTG.POOLS BY INSTRUMENT: TREASURY ISSUES HOUSEHOLD SAVINGS BONDS.. TREAS. EXCL. SAVINGS BONDS BUDGET AGENCY ISSUES LOAN PARTICIPATIONS ()..... SPONS. AGENCY ISSUES () MORTGAGE POOL SECUR. (). TOTAL NET PURCHASES, BY SECTOR AND TYPE TOTAL HOLDINGS BY SECTOR U.S. GOVT. (AGENCY SEC.) SPONSORED CREDIT AGENCIES TREASURY MARKETABLE FHLB SPECIAL ISSUE AGENCY SECURITIES... b. FEDERAL RESERVE SYSTEM TREASURY ISSUES AGENCY ISSUES FOREIGN SHORTTERM OTHER MARKETABLE... TOTAL PRIVATE DOMESTIC TREASURY ISSUES AGENCY ISSUES... PRIVATE DOMESTIC NONFINAN. TOTAL TREASURY ISSUES SAVINGS BONOS (HH) OTHER TREASURY ISSUES AGENCY ISSUES HOUSEHOLDS TOTAL TREASURY ISSUES SAVINGS BONDS OTHER TREASURY ISSUES AGENCY ISSUES NONFIN. CORPORATE BUSINESS TREASURY ISSUES AGENCY ISSUES S. + L. GOVERNMENTS TREASURY ISSUES AGENCY ISSUES.. COMMERCIAL BANKING TREASURY ISSUES AGENCY ISSUES COMMERCIAL BANKS FOREIGN BANKING AGENCIES BANKS IN U.S. POSSESSIONS b. PRIVATE NONBANK FINANCE.. TOTAL, ALL PVT. NONBANK FIN. TREASURY ISSUES AGENCY ISSUES..... b SAVINGS LOAN ASSOCIATIONS TREASURY ISSUES AGENCY ISSUES.. MUTUAL SAVINGS BANKS TREASURY ISSUES AGENCY ISSUES CREDIT UNIONS TREASURY ISSUES AGENCY ISSUES LIFE INSURANCE TREASURY ISSUES AGENCY ISSUES..b b PRIVATE PENSION FUNDS TREASURY ISSUES AGENCY ISSUES S. + L. GOVT., RTR. FUNDS TREASURY ISSUES AGENCY ISSUES. OTHER INSURANCE COMPANIES TREASURY ISSUES AGENCY ISSUES INVESTMENT COS. (TREASURY) MONEY MARKET FUNDS (TREAS) SECURITY BROKERS + DEALERS (TREASURY). () WHERE NOT SHOWN SEPARATELY, LOAN PARTICIPATIONS ARE INCLUDED WITH AGENCY ISSUES. () THESE ISSUES ARE OUTSIDE THE BUDGET AND OUTSIDE THE U.S. GOVERNMENT SECTOR IN FLOW OF FUNDS ACCOUNTS. THEY ARE INCLUDED IN CREDIT MARKET DEBT OF FINANCIAL INSTITUTIONS. / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION.

41 AUGUST U.S. GOVT. SECURITIES U.S. GOVT. SECURITIES U.S. GOVERNMENT SECURITIES MARKET SUMMARY TOTAL NET ISSUES, BY SECTOR AND TYPE I I IV..... v.. TOTAL U.S.GOVERNMENT SECUR. U.S. GOVERNMENT. SPON. AGENCIES MTG.POOLS. BY INSTRUMENT: ). TREASURY ISSUES t HOUSEHOLD SAVINGS BONDS f TREAS. EXCL. SAVINGS BONDS > OTHER BUDGET AGENCY ISSUES LOAN PARTICIPATIONS (). t PONS. AGENCY ISSUES () > MORTGAGE POOL SECUR. () TOTAL NET PURCHASES, BY SECTOR AND TYPE..... TOTAL HOLDINGS, BY SECTOR U.S. GOVT. (AGENCY SEC.) SPONSORED CREDIT AGENCIES TREASURY MARKETABLE FHLB SPECIAL ISSUE AGENCY SECURITIES.. FEDERAL RESERVE SYSTEM TREASURY ISSUES AGENCY ISSUES FOREIGN SHORTTERM OTHER MARKETABLE b.. TOTAL PRIVATE DOMESTIC TREASURY ISSUES AGENCY ISSUES PRIVATE DOMESTIC NONFINAN. TOTAL TREASURY ISSUES SAVINGS BONDS (HH) OTHER TREASURY ISSUES AGENCY ISSUES HOUSEHOLDS TOTAL TREASURY ISSUES SAVINGS BONDS OTHER TREASURY ISSUES AGENCY ISSUES.. i.i..... ~ NONFIN. CORPORATE BUSINESS TREASURY ISSUES AGENCY ISSUES S. L. GOVERNMENTS TREASURY ISSUES AGENCY ISSUES lb..b. COMMERCIAL BANKING TREASURY ISSUES AGENCY ISSUES. COMMERCIAL BANKS FOREIGN BANKING AGENCIES BANKS IN U.S. POSSESSIONS PRIVATE NONBANK FINANCt... TOTAL, ALL PVT. NONBANK FIN.. TREASURY ISSUES AGENCY ISSUES.. SAVINGS LOAN ASSOCIATIONS TREASURY ISSUES. AGENCY ISSUES. Z. MUTUAL SAVINGS BANKS TREASURY ISSUES AGENCY ISSUES CREDIT UNIONS TREASURY ISSUES AGENCY ISSUES.. LIFE INSURANCE TREASURY ISSUES AGENCY ISSUES. ~.... l.b.... PRIVATE PENSION FUNDS. TREASURY ISSUES AGENCY ISSUES S. + L. GOVT., RTR. FUNDS TREASURY ISSUES AGENCY ISSUES OTHER INSURANCE COMPANIES TREASl/RY ISSUES AGENCY ISSUES INVESTMENT COS. (TREASURY! MONEY MARKET FUNDS (TREAS SECURITY BROKERS + DEALERS (TREASURY) BILLIONS OF DOLLARS. / BASED ON INCOMPLETE INFORMATION. () WHERE NOT SHOWN SEPARATELY, LOAN PARTICIPATIONS ARE NCLUED WITH AGENCY ISSUES. () THESE ISSUES ARE OUTSIDE THE BUDGET AND OUTSIDE THE U.S. GOVERNMENT SECTOR IN FLOW OF FUNDS ACCOUNTS. THEY ARE INCLUDED IN CREDIT MARKET DEBT OF FINANCIAL INSTITUTIONS.

42 AUGUST, PRIVATE SECURITIES PRIVATE SECURITIES STATE LOCAL GOVERNMENT CORPORATE AND FOREIGN SECURITIES UNADJUSTED NET FLOWS < MILL.) UNADJUSTED NET FLOWS ( MILL.) I BILLIONS OF DOLLARS STATE AND LOCAL GOVERNMENT SECURITIES NET CHANGE IN LIABILITIES STATE + LOCAL GOVERNMENTS SHORTTERM OTHER NNFN. CORPORATE BUSINESS CPOLLUTION CONTROL)..,,,. i... ~. NET CHANGE IN ASSETS HOUSfcHGLDS NONFIN. CORPORATE BUSINESS ST.+LOC. GOVT, GEN. FUNDS...,... COMMERCIAL BANKING SAVINGS + LOAN ASSNS. MUTUAL SAVINGS BANKS LIFE INSURANCE COMPANIES ST.+LOC. GOVT, RTR. FUNDS OTHER INSURANCE COMPANIES BROKERS DEALERS. o CORPORATE AND FOREIGN BONDS NET ISSUES NONFIN. CORPORATE BUSINESS REST OF THE WORLD COMMERCIAL BANKS SAVINGS i LOAN ASSOCIATIONS FINANCE COMPANIES REITS NET PURCHASES HOUSEHOLDS REST OF THE WORLD COMMERCIAL BANKING MUTUAL SAVINGS BANKS INSURANCE LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS ST.+LOC. GOVT, RTR. FUNDS OTHER INSURANCE COMPANIES... t> OPENEND INVESTMENT COS. BRUKERS + DEALERS CORPORATE EQUITIES NET ISSUES OPENEND INVESTMENT COS. OTHER SECTORS NONFIN. CORPORATE BUSINESS REST OF THE WORLD COMMERCIAL BANKS UTHER INSURANCE COMPANIES REITS llo o i.. NET PURCHASES HOUSEHOLDS REST OF THE WORLD CUMMERCAL BANKING MUTUAL SAVINGS BANKS INSURANCE LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS ST.+LOC. GOVT, RTK. FUNDS OTHER INSURANCE COMPANIES UPENEND INVESTMENT COS. BROKERS + DEALERS.. / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION.

43 PRIVATE SECURITIES STATE LOCAL GOVERNMENT, CORPORATE, AND FOREIGN SECURITIES PRIVATE SECURITIES I STATfc AND LOCAL GOVERNMENT SECURITIES.... NET CHANGE IN LIABILITIES STATE + LOCAL GOVERNMENTS SHORTTERM OTHER NNFN. CORPORATE BUSINESS {POLLUTION CONTROL) :. NET CHANGE IN ASSETS HOUSEHOLDS NONFIN. CORPORATE BUSINESS ST.+LOC. GOVT, GEN. FUNDS COMMERCIAL BANKING SAVINGS + LOAN ASSNS. MUTUAL SAVINGS BANKS. LIFE INSURANCE COMPANIES ST.+LOC. GOVT, RTR. FUNDS OTHER INSURANCE COMPANIES BROKERS DEALERS CORPORATE AND FOREIGN BONDS... NET ISSUES NONFIN. CORPORATE BUSINESS REST OF THE WORLD COMMERCIAL BANKS SAVINGS LOAN ASSOCIATIONS FINANCE COMPANIES REITS... NET PURCHASES HOUSEHOLDS REST OF THE WORLD COMMERCIAL BANKING MUTUAL SAVINGS BANKS.. <i.o C V. lo.. INSURANCE LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS ST.+ LOC. GOVT, RTR. FUNDS OTHER INSURANCE COMPANIES... OPENEND INVESTMENT COS. BROKERS DEALERS CORPORATE EQUITIES...b NET ISSUES OPENEND INVESTMENT COS. OTHER SECTORS NONFIN. CORPORATE BUSINESS REST OF THE WORLD COMMERCIAL ANK. OTHER INSURANCE COMPANIES RclTS.. NET PURCHASES HOUSEHOLDS REST OF THE WORLD COMMERCIAL BANKING MUTUAL SAVINGS BANKS S>.t.o.... INSURANCE LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS ST.+LOC. GOVT, RTR. FUNDS UTHER INSURANCE COMPANIES.. OPENEND INVESTMENT COS. BROKERS ( DEALERS BILLIONS OF DOLLARS. / BASED ON INCOMPLETE INFORMATION.

44 MORTGAGES I MORTGAGE MARKETS BY TYPE OF MORTGAGE UNADJUSTED NET FLOWS ($ MLL UNADJUSTED NET FLOWS U MILL.) BILLIONS OF DOLLARS TOTAL MORTGAGES NET CHANGE IN MORTGAGES HOME MORTGAGES MULTIFAMILY RESID. COMMERCIAL FARM BORROWED BY: U.S. GOVERNMENT SAVINGS LOAN ASSOCIATIONS d REITS PRIVATE NONFINANCIAL SECTORS HOUSEHOLDS NONPROFIT INSTITUTIONS NONFINANCIAL BUSINESS FARMS NONFARM NONCORPORATE CORPORATE FUNDS ADVANCED BY: x HOUSEHOLDS ST.+LOG. GOVT, GEN. FUNDS U.S. GOVERNMENT SPONSORED CREDIT AG. () MORTGAGE POOLS PRIVATE FINAN. INSTITUTIONS COMMERCIAL BANKING SAVINGS INSTITUTIONS S+L ASSOCIATIONS <> MUTUAL SAVINGS BANKS CREDIT UNIONS INSURANCE LIFE COMPANIES PRIVATE PENSION FUNDS S.+LC. GOVT, RTR. FUND OTHER INSURANCE COS. FINANCE COMPANIES REITS b ^ () MEMO: FHLB LOANS TO S+L ASSOCIATIONS (INCLUDED IN "OTHER LOANS" CATEGORY).. HOME MORTGAGES NET BORROWING HOUSEHOLDS NONFARM NONCORP. BUSINESS NONFIN. CORPORATE BUSINESS SAVINGS LOAN ASSOCIATIONS...t>.,. NET CHANGE IN ASSETS HOUSEHOLDS STATE + LOCAL GOVERNMENTS U.S. GOVERNMENT SPONS. CREDIT AGENCIES MORTGAGE POOLS COMMERCIAL BANKING SAVINGS INSTITUTIONS SAVINGS + LOAN ASSNS. MUTUAL SAVINGS BANKS CREDIT UNIONS INSURANCE LI Ft INSURANCE COMPANIES PRIVATE PENSION FUNDS ST.+LOC. GOVT, RTR. FUNDS FINANCE COMPANIES REITS o JO L L.. / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION.

45 MORTGAGES I MORTGAGES MORTGAGE MARKETS BY TYPE OF MORTGAGE I TOTAL MORTGAGES I IV I SI l.b......i <r NET CHANGE IN MORTGAGES.. HOME MORTGAGES MULTIFAMILY RESID. COMMERCIAL FARM BORROWED BY: U.S. GOVERNMENT SAVINGS LOAN ASSOCIATIONS REITS.. PRIVATE NONFINANCIAL SECTORS HOUSEHOLDS NONPROFIT INSTITUTIONS NONFINANCIAL BUSINESS FARMS NONFARM NONCORPORATE CORPORATE FUNDS ADVANCED BY: HOUSEHOLDS ST.+LOC. GOVT, GEN. FUNDS.. U.S. GOVERNMENT SPONSORED CREDIT AG. MORTGAGE POOLS..Z..... PRIVATE FNAN. INSTITUTIONS COMMERCIAL BANKING SAVINGS INSTITUTIONS SL ASSOCIATIONS () to MUTUAL SAVINGS BANKS CREDIT UNIONS INSURANCE LIFE COMPANIES PRIVATE PENSION FUNDS ST.+LOC. GOVT, RTR. FUND OTHER INSURANCE COS. FINANCE COMPANIES REITS. ) MEMO: FHLB LOANS TO SL ASSOCIATIONS (INCLUDED IN "OTHER LOANS" CATEGORY). HOME MORTGAGES...., NET BORROWING HOUSEHOLDS NONFARM NONCORP. BUSINESS NONFIN. CORPORATE BUSINESS SAVINGS + LOAN ASSOCIATIONS ,... NET CHANGE IN ASSETS HOUSEHOLDS STATE + LOCAL GOVERNMENTS U.S. GOVERNMENT SPONS. CREDIT AGENCIES MORTGAGE POOLS COMMERCIAL BANKING... SAVINGS INSTITUTIONS SAVINGS LOAN ASSNS. MUTUAL SAVINGS faanks CREDIT UNIONS INSURANCE LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS ST»+LOC. GOVT, RTR. funos BILLIONS OF DOLLARS. / BASED ON INCOMPLETE INFORMATION. FINANCE COMPANIES REITS

46 AUGUST MORTGAGES MORTGAGES MORTGAGE MARKETS CONTINUED UNADJUSTED NET FLOWS ($ MILL.) UNADJUSTED NET FLOWS ($ MILL.) I BILLIONS OF DOLLARS MULTIFAMILY RESIDENTIAL MORTGAGES NET BORROWING NONFARM NONCORP. BUSINESS NONFIN. CORPORATE BUSINESS REITS U.S. GOVERNMENT.... NET CHANGE IN ASSETS HOUSEHOLDS STATE + LOCAL GOVERNMENTS b.y. U.S. GOVERNMENT SPONS. CREDIT AGENCIES MORTGAGE POOLS COMMERCIAL BANKS SAVINGS INSTITUTIONS SAVINGS + LOAN ASSNS. MUTUAL SAVINGS BANKS LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS ST.+LOC. GOVT, RTR. FUNDS t> FINANCE COMPANIES REITS. COMMERCIAL MORTGAGES NET BORROWING HOUSEHOLDS NONFARM NONCORP. BUSINESS NONFIN. CORPORATE BUSINESS REITS NET CHANGE IN ASSETS HOUSEHOLDS STATE + LOCAL GOVERNMENTS U.S. GOVERNMENT COMMERCIAL BANKING SAVINGS INSTITUTIONS SAVINGS LOAN ASSNS. MUTUAL SAVINGS BANKS LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS ST.+LOC. GOVT, RTR. FUNDS OTHER INSURANCE COMPANIES FINANCE COMPANIES REITS.. t> FARM MORTGAGES NET BORROWING. IT CHANGE IN ASSETS HOUSEHOLDS STATE LUCAL GOVERNMENTS S U.S. GOVERNMENT SPONSORED CREDIT AGENCIES MORTGAGE POOLS COMMERCIAL BANKS MUTUAL SAVINGS BANKS LIFE INSURANCE COMPANIES ST.+LOC. GOVT, RTR. FUNDS / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION.

47 AUGUST MORTGAGES MORTGAGES MORTGAGE MARKETS CONTINUED MULTIFAMILY RESIDENTIAL MORTGAGtS.. NET BORROWING NONFARM NONCORP. BUSINESS NONFIN. CORPORATE BUSINESS REITS U.S. GOVERNMENT.. NET CHANGE IN ASSETS HOUSEHOLDS STATE + LOCAL GOVERNMENTS U.S. GOVERNMENT. SPONS. CREDIT AGENCIES MORTGAGE POOLS COMMERCIAL BANKS SAVINGS INSTITUTIONS SAVINGS + LOAN ASSNS. MUTUAL SAVINGS BANKS LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS ST.+LOC. GOVT, RTR. FUNDS FINANCE COMPANIES REITS COMMERCIAL MORTGAGES. NET BORROWING HOUSEHOLDS NONFARM NONCORP. BUSINESS.... NONFIN. CORPORATE BUSINESS ~.l REITS. NET CHANGE IN ASSETS Z.Z HOUSEHOLDS STATE + LOCAL GOVERNMENTS U.S. GOVERNMENT COMMERCIAL BANKING.. SAVINGS INSTITUTIONS SAVINGS LOAN ASSNS. MUTUAL SAVINGS BANKS LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS ST.+LOC. GOVT, RTR. FUNDS OTHER INSURANCE COMPANIES FINANCE COMPANIES REITS FARM MORTGAGES NET BORROWING NET CHANGE IN ASSETS HOUSEHOLDS STATE + LOCAL GOVERNMENTS U.S. GOVERNMENT SPONSORED CREDIT AGENCIES.<» MORTGAGE POOLS. COMMERCIAL BANKS MUTUAL SAVINGS BANKS LIFE INSURANCE COMPANIES ST.+LOC. GOVT, RTR. FUNDS BILLIONS OF DOLLARS. / BASED ON INCOMPLETE INFORMATION.

48 AUGUST CONSUMER CREDIT AND BANK LOANS N.E.C. CONSUMER CREDIT AND BANK LOANS N.E.C. CONSUMER CREDIT AND BANK LOANS NOT ELSEWHERE CLASSIFIED UNADJUSTED NET FLOWS ($ MILL.) UNADJUSTED NET FLOWS ( MILL.) I I IV BILLIONS OF DOLLARS CONSUMER CREDIT NET CHANGE IN LIABILITIES (HH) INSTALMENT CREDIT NONINSTALMENT CREDIT.... NET CHANGE IN ASSETS INSTALMENT CREDIT NONFARM NONCORP. BUSINESS NNFN. CORPORATE BUSINESS COMMERCIAL BANKING SAVINGS LOAN ASSNS. MUTUAL SAVINGS BANKS CREDIT UNIONS FINANCE COMPANIES NONINSTALMENT CREDIT NONFARM NONCORP. BUSINESS NONFIN. CORPORATE BUSINESS COMMERCIAL BANKING SAVINGS + LOAN ASSNS. MUTUAL SAVINGS BANKS. TOTAL LOANS AT COMMERCIAL BANKSt F/F BASIS... BANK LOANS NOT ELSEWHERE CLASSIFIED LOANS ELSEWHERE CLASSIFIED: MORTGAGES CONSUMER CREDIT SECURITY CREDIT OPENMARKET PAPER HYPOTHECATED DEPOSITS = BANK LOANS NEC AT COML. BKS. BANK LOANS NEC AT OTHER BANKING SUBSECTORS: DOMESTIC AFFILIATES FOREIGN BANKING AGENCIES BANKING SECTOR TOTAL BANK LOANS NEC LOANS BY F.R. BANKS TOTAL BANK LOANS NEC _. _... _.. _. _..... NET CHANGE IN LIABILITIES NNFINANCAL SECTORS HOUSEHOLDS FARM BUSINESS NONFARM NONCORP. BUSINESS CORPORATE BUSINESS. b REST OF THE WORLD FGN. OFFICIAL FGN. BANKS OTHER FGN. FINANCIAL SECTORS SAVINGS LOAN ASSNS. FINANCE COMPANIES REITS S / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION.

49 CONSUMER CREDIT AND BANK LOANS N.E.C. CONSUMER CREDIT AND BANK LOANS NOT ELSEWHERE CLASSIFIED I I IV I CONSUMER CREDIT CONSUMER CREDIT AND BANK LOANS N.E.C. NET CHANGE IN LIABILITIES (HH). INSTALMENT CREDIT. NONINSTALMENT CREDIT NET CHANGE IN ASSETS. INSTALMENT CREDIT NONFARM NONCORP. BUSINESS. NNFN. CORPORATE BUSINESS COMMERCIAL BANKING.. SAVINGS LOAN ASSNS. MUTUAL SAVINGS BANKS. CREDIT UNIONS.. FINANCE COMPANIES. NONINSTALMENT CREDIT.. NONFARM NONCORP. BUSINESS NGNFIN. CORPORATE BUSINESS COMMERCIAL BANKING SAVINGS LOAN ASSNS. MUTUAL SAVINGS BANKS BILLIONS OF DOLLARS... BANK LOANS NOT ELSEWHERE CLASSIFIED. TOTAL LOANS AT COMMERCIAL.. BANKSt F/F BASIS LOANS ELSEWHERE CLASSIFIED:. MORTGAGES.. CONSUMER CREDIT... SECURITY CREDIT. OPENMARKET PAPER HYPOTHECATED DEPOSITS... = BANK LOANS NEC AT CUML. BKS. + BANK LOANS NEC AT OTHER BANKING SUBSECTORS:. DOMESTIC AFFILIATES... FOREIGN BANKING AGENCIES = BANKING SECTOR TOTAL BANK LOANS NEC / BASED ON INCOMPLETE INFORMATION.....,.. LOANS BY F.R. BANKS. = TOTAL BANK LOANS NEC. NET CHANGE IN LIABILITIES. NNFINANCAL SECTORS HOUSEHOLDS. FARM BUSINESS NONFARM NUNCURP. BUSINESS CORPORATE BUSINESS REST OF THE WORLD FGN. OFFICIAL FGN. BANKS OTHER FGN.. FINANCIAL SECTORS SAVINGS LOAN ASSNS. FINANCE COMPANIES REITS

50 OTHER LOANS UNADJUSTED NET FLOWS i$ MILL.) PRIVATE MONEY MARKET INSTRUMENTS AND OTHER LOANS I OTHER LOANS UNADJUSTED NET FLOWS ($ MILL.) BILLIONS OF DOLLARS OPENMARKET PAPER, FEDERAL FUNDS + RP»S, AND MONEY MARKET FUND SHARES TOTAL NET ISSUES, ALL TYPES.. OPENMARKET PAPER.. COMMERCIAL PAPER NNFINANCAL CORPORATIONS FINANCIAL BUSINESS COMMERCIAL BANKING FINANCE COMPANIES REITS. BANKERS ACCEPTANCES NNFNANCIAL BUSINESS NONCORPORATE CORPORATE REST OF THE WORLD NET PURCHASES, BY SECTOR HOUSEHOLDS NONFIN. CORPORATE BUSINESS REST OF THE WORLD SPONSORED CREDIT AGENCIES MONETARY AUTHORITY COMMERCIAL BANKING SAVINGS LOAN ASSOCIATIONS MUTUAL SAVINGS BANKS LIFE INSURANCE COMPANIES INVESTMENT COMPANIES MONEY MARKET FUNDS FEDERAL FUNDS AND SECURITY RP»S.... _ NET CHANGE IN LIABILITIES COMMERCIAL BANKS SAVINGS + LOAN ASSOCIATIONS NET CHANGE IN ASSETS NNFINANCAL CORPORATIONS SPONSORED CREDIT AGENCIES SAVINGS + LOAN ASSOCIATIONS MUTUAL SAVINGS BANKS... Z.Z. ~. MONEY MARKET MUTUAL FUND SHARES NET ISSUES HOUSEHOLD NET PURCHASES OTHER LOANS FINANCE CO. LOANS TO BUSINESS LIAB.NONCORPORATE BUSINESS NONFIN. CORP. BUSINESS.. U.S. GOVERNMENT LOANS LIAB.HOUSEHOLOS FARM BUSINESS NONFARM NONCORP. BUS. NONFIN. CORP. BUSINESS ST.+LOC. GOVERNMENTS REST OF THE WORLD SPONS. CREDIT AGENCIES. SPONSORED CREDIT AGENCY LOANS LIABILITY OF FARM BUSINESS (FICB) NONFARM NONCORP. BUS. (BC) S+L ASSOCIATIONS (FHLB) POLICY LOANS (HH LIABILITY) ASSETU.S. GOVERNMENT LIFE INSURANCE COS. HYPOTHECATED DEP. (HH LIAB.) ASSETCOMMERCIAL BANKS.. / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION.

51 OTHER LOANS OTHER LOANS PRIVATE MONEY MARKET INSTRUMENTS AND OTHER LOANS SEASONALLY ADJUSTED ANNUAL RATES OPENMARKET PAPER, FEDfcRAL FUNDS RP'S, AND MONEY MARKET FUND SHARES. tt.. TOTAL NET ISSUES, ALL TYPES OPENMARKET PAPER COMMERCIAL PAPER NONFINANCIAL CORPORATIONS FINANCIAL business COMMERCIAL BANKING FINANCE COMPANIES REITS... BANKERS ACCEPTANCES NONFINANCIAL business. NONCORPORATE. CORPORATE REST OF THE WORLD NET PURCHASES, by SECTOR HOUSEHOLDS NONFIN. CORPORATE BUSINESS. REST OF THE WORLD SPONSORED CREDIT AGENCIES MONETARY AUTHORITY COMMERCIAL BANKING. SAVINGS + LOAN ASSOCIATIONS. MUTUAL SAVINGS toanks. LIFE INSURANCE COMPANIES INVESTMENT COMPANIES MONEY MARKET FUNDS FEDERAL FUNDS AND SECURITY RP'S.t>.... fa NET CHANGE IN LIABILITIES COMMERCIAL BANKS SAVINGS LOAN ASSOCIATIONS... NET CHANGE IN ASSETS NONFINANCIAL CORPORATIONS SPONSORED CREDIT AGENCIES. SAVINGS LOAN ASSOCIATIONS MUTUAL SAVINGS BANKS MONEY MARKET MUTUAL FUND SHARES NET ISSUES = HOUSEHOLD NET PURCHASES OTHER LOANS. FINANCE CO. LOANS TO BUSINESS LIAB.NONCORPORATE BUSINESS NONFIN. CORP. BUSINESS.....S. GOVERNMENT LOANS LIAB.HOUSEHOLDS FARM BUSINESS NONFARM NONCORP. BUS. NONFIN. CORP. BUSINESS ST.+LOC. GOVERNMENTS REST OF THE WORLD SPONS. CREDIT AGENCIES.. SPONSORED CREDIT AGENCY LOANS LIABILITY OF FARM BUSINESS (FICB) NONFARM NONCORP. BUS. tbc). S+L ASSOCIATIONS (FHLB). POLICY LOANS (HH LIABILITY) ASSETU.S. GOVERNMENT. LIFE INSURANCE COS. HYPOTHECATED DEP. (HH LIAB. ASSETCOMMERCIAL BANKS BILLIONS OF DOLLARS. / BASED ON INCOMPLETE INFORMATION.

52 SECURITY CREDIT TRAOE CREDIT AND TAXES SECURITY CREDIT, TRADE CREDIT AND TAXES SECURITY CREDIT TRADE CREDIT AND TAXES PAYABLE UNAOJUSTED NET FLOWS ($ MILL.) UNADJUSTED NET FLOWS (» MILL.) I I IV I BILLIONS OF DOLLARS SECURITY CREDIT NET CHANGE IN LIABILITIES HOUSEHOLDS FOREIGN BROKERS + DEALERS FROM COMMERCIAL BANKS FROM FOREIGN BANKING AGS. CUSTOMER CREDIT BALANCES.... NET CHANGE IN ASSETS HOUSEHOLDS COMMERCIAL BANKING.. BROKERS DEALERS FOREIGN TRADE CREDIT NET CHANGE IN LIABILITIES HOUSEHOLDS FARM BUSINESS NONFARM NONCORP. BUSINESS (PAYABLES LESS RECEIVABLES). NNFN. CORPORATE BUSINESS STATE LOCAL GOVERNMENTS FOREIGN U.S. GOVERNMENT NET CHANGE IN ASSETS NONFIN. CORPORATE BUSINESS FOREIGN U.S. GOVERNMENT OTHER INSURANCE COMPANIES DISCREPANCY PROFIT TAXES PAYABLE NET CHANGE IN TAXES PAYABLE NONFIN. CORPORATE BUSINESS COMMERCIAL BANKS SAVINGS + LOAN ASSOCIATIONS LIFE INSURANCE COMPANIES OTHER INSURANCE COMPANIES FINANCE COMPANIES BROKERS + DEALERS NET CHANGE IN TAXES RECEIVABLE STATE LOCAL GOVERNMENTS U.S. GOVERNMENT... DISCREPANCY.... PROPRIETORS' EQUITY IN NONCORPORATE BUSINESS TOTAL HOUSEHOLD INVESTMENT FARM BUSINESS NONFARM NONCORP. BUSINESS.. / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION.

53 SECURITY CREDIT, TRADE CREDIT, AND TAXES SECURITY CREDIT, TRADE CREDIT, AND TAXES PAYABLE SECURITY CREDIT, TRADE CREDIT, AND TAXES I I I I IV I SECURITY CRfcDIT... ~. ".. NET CHANGE IN LIABILITIES HOUSEHOLDS FOREIGN BROKERS DEALERS. FROM COMMERCIAL BANKS FROM FOREIGN BANKING AGS. CUSTOMER CREDIT BALANCES LO.. NET CHANGE IN ASSETS HOUSEHOLDS COMMERCIAL BANKING LI. BROKERS + DEALERS FOREIGN TRADE CREDIT NET CHANGE IN LIABILITIES HOUSEHOLDS.. FARM BUSINESS NONFARM NONCURP. BUSINESS (PAYABLES LESS RECEIVABLES)... NONFIN. CORPORATE BUSINESS STATE LOCAL GOVERNMENTS FOREIGN U.S. GOVERNMENT b NET CHANGE IN ASSETS NONFIN. CORPORATE BUSINESS FOREIGN U.S. GOVERNMENT OTHER INSURANCE COMPANIES DISCREPANCY PROFIT TAXtS PAYABLE NET CHANGE IN TAXES PAYABLE. NONFIN. CORPORATE BUSINESS COMMERCIAL BANKS SAVINGS LOAN ASSOCIATIONS LIFE INSURANCE COMPANIES OTHER INSURANCE COMPANIES... FINANCk COMPANIES BROKERS DEALERS NET CHANGE IN TAXES RECEIVABLE.. STATE LOCAL GOVERNMENTS U.S. GOVERNMENT. DISCREPANCY PROPRIETORS' EQUITY IN NONCORPORATE BUSINESS BILLIONS OF DOLLARS. / BASED ON INCOMPLETE INFORMATION... TOTAL HOUSEHOLD INVESTMENT FARM BUSINESS.. NONFARM NONCORP. BUSINESS

54 MISCELLANEOUS I MISCELLANEOUS FINANCIAL CLAIMS MISCELLANEOUS I UNADJUSTED NtT FLOWS ($ MILL.) UNADJUSTED NET FLOWS ($ MILL.) I IV I BILLIONS OF DOLLARS NET CHANGE IN LIABILITIES HOUSbHOLDS NONFIN. CORPORATE BUSINESS REST OF THE WORLD U.S. GOVERNMENT TOTAL FINANCE SPONSORED CREDIT AGENCIES MONfclARY AUTHORITIES COMMERCIAL banking.... SAVINGS + LOAN ASSNS. MUTUAL SAVINGS BANKS LIFE INSURANCE COMPANIES NONLIFE NSUR. COMPANIES FINANCE COMPANIES REITS G ^.. NET CHANGt IN ASSETS HOUSEHOLDS FARM BUSINESS NONFARM NONCORP. BUSINESS NONFIN. CORPORATE BUSINESS... b. l.b.. REST OF THE WORLD U.S. GOVERNMENT.. TOTAL FINANCE SPONSORED CREDIT AGENCIES MONETARY AUTHORITY COMMERCIAL BANKING SAVINGS + LOAN ASSNS. MUTUAL SAVINGS BANKS LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS REITS MONfcY MARKET FUNDS UNALLOCATED, NET. <» (A) FOREIGN CLAIMS COMMERCIAL BANK LIABILITY TO FOREIGN AFFILIATES ASSETREST OF THE WORLD LAB.COMMERCIAL BANKS FOREIGN BANKING AGS.....? DIRECT FOREIGN INVESTMENT BY U.S. CORPORATIONS LIAB.RtST OF THE WORLD DIRECT FOREIGN INVESTMENT IN U.S. LIAB.NONFIN. CORP. BUSINESS U.S. GOVT. EQ. IN IBRD, ETC. LIAB.REST OF THE WORLD FOREIGN CURR. EXCEPT OFFICIAL LIAB.REST OF THE WORLD ASSETNONFIN. CORP. BUSINESS U.S. GOVERNMENT COMMERCIAL BANKS FOREIGN BANKING AGS. o i. (b) U. GOVERNMENT CLAIMS POSTAL SAVINGS DEPOSITS ASSETHOUSEHOLDS LIAB.U.S. GOVT. DEPOSITS AT FHLB LIAB.SPONSORED CREDIT AGS. ASSETS+L ASSOCIATIONS FEDERAL RESERVE BANK STOCK ASStT OF COMMERCIAL BANKS EQ. IN U.S. GOVT. CREDIT AGS. U.S. GOVERNMENT PRIVATE FARM BUSINESS (FICB + FLB) NONFARM NONCORPORATE (BC) NONFIN. CORP. BUS. (FNMA) S+L ASSOCIATIONS (FHLB) / BASEO ON PRELIMINARY AND INCOMPLETE INFORMATION

55 MISCELLANEOUS MISCELLANEOUS MISCELLANEOUS FINANCIAL CLAIMS SEASONALLY ADJUSTED ANNUAL KATES NfcT CHANGt IN LIABILITIES. HOUSEHOLDS NONFIN. CORPORATE BUSINESS REST OF THE WORLD U.S. GOVERNMENT TOTAL FINANCE SPONSORED CREDIT AGENCIES MONETARY AUTHORITIES COMMERCIAL BANKING SAVINGS LOAN ASSNS.. MUTUAL SAVINGS BANKS LIFE INSURANCE COMPANIES NUNLIFE NSUR. COMPANIES FINANCE COMPANIES REITS NET CHANGE IN ASSETS HOUSEHOLDS FARM BUSINESS NONFARM NONCORP. BUSINESS NONFIN. CORPORATE BUSINESS REST OF THE WORLO U.S. GOVERNMENT..... TOTAL FINANCE SPONSORED CREDIT AGENCIES MONETARY AUTHORITY COMMERCIAL BANKING. SAVINGS + LOAN ASSNS. MUTUAL SAVINGS BANKS LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS. REITS MONEY MARKET FUNDS UNALLOCATED, NET (A) FOREIGN CLAIMS... COMMERCIAL BANK LIABILITY TO FOREIGN AFFILIATES ASSETREST OF THE WURLD LIAB.COMMERCIAL BANKS FOREIGN BANKING AGS. DIRECT FOREIGN INVESTMENT BY U.S. CORPORATIONS LIAB.REST OF THE WORLD DIRECT FOREIGN INVESTMENT IN U.S. LIAB.NONFIN. CORP. BUSINESS U.S. GOVT. EO. IN IBRD, ETC. LlAb.RLST OF THE WORLD FOREIGN CURR. EXCEPT OFFICIAL LIAB.RtST OF THE WORLD ASSETNONFIN. CORP. BUSINESS U.S. GOVERNMENT «COMMERCIAL BANKS FOREIGN BANKING AGS. (B) U. S. GOVERNMENT CLAIMS POSTAL SAVINGS DEPOSITS ASStTHOUSEHOLDS LAB.U.S. GOVT. DEPOSITS AT FHLB LIAB.SPONSORED CREDIT AGS. ASSETS+L ASSOCIATIONS FEDERAL RESERVE BANK STOCK ASSET OF COMMERCIAL BANKS EO. IN U.S. GOVT. CREDIT AGS. U.S. GOVERNMENT PRIVATE FARM BUSINESS (FICB FLB) NONFARM NONCORPORATE (BO NONFIN. CORP. BUS. (FNMA) S+L ASSOCIATIONS IFHLB) aillloni OF DOLLARS. / BASED ON INCOMPLETE: INFORMATION.

56 AUGUST t MISCELLANEOUS MISCELLANEOUS MISCELLANEOUS FINANCIAL CLAIMS (CONTINUED) UNADJUSTEO NET FLOWS ( MILL.) UNADJUSTED NET FLOWS ( MILL.) I BILLIONS OF DOLLARS (C) LIFE INSURANCE CLAIMS DEFERRED AND UNPAID PREMIUMS LlAb.HOUSEHOLDS ASSETLIFE INSURANCE LIFE COMPANY RESERVES LIAB.LIFE INSURANCE COS. ACCIDENT AND HEALTH POLICY DIVIDEND ACCUM. ASSETHOUSEHOLDS (D) NONLIFE INSURANCE CLAIMS LlAb.OTHER INSURANCE ASSETHOUSEHOLDS FARM BUSINESS NONFARM NONCORP. BUS. NONFIN. CORP. BUSINESS. <t) UNALLOCATED ASSETS LIAB. NET TOTAL (LIAB. LESS ASSETS) NET CHANGE IN LIABILITIES REST OF THE WORLD U.S. GOVERNMENT U.S. GOVT.WITHOUT LEVELS SPONSORED CREDIT AGENCIES MONETARY AUTHORITIES COMMERCIAL BANKING COMMERCIAL BANKS BANK AFFILIATES FOREIGN BANKING AGENCIES BANKS IN U.S. POSS. FLOATS IN COML. BANK STMNT ON INTERBANK DEPOSITS ON INTERBANK LOANS LESS: UN MEMBER BK. RES. SAVINGS + LOAN ASSNS. MUTUAL SAVINGS BANKS LIFE INSURANCE COMPANIES FINANCE COMPANIES REITS NET CHANGE IN ASSETS NONFIN. CORPORATE BUSINESS REST OF THE WORLD SPONSORED CREOIT AGENCIES MONETARY AUTHORITY COMMERCIAL BANKS FOREIGN BANKING AGENCIES BANKS IN U.S. POSSESSIONS SAVINGS LOAN ASSNS. MUTUAL SAVINGS BANKS LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS REITS MONEY MARKET FUNDS. b..... lb U.. _.... ~ / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION.

57 AUGUST t MISCELLANEOUS MISCELLANEOUS FINANCIAL CLAIMS (CONTINUED) MISCELLANEOUS (C) LIFE INSURANCE CLAIMS DEFERRED AND UNPAID PREMIUMS.. LIAB.HOUSEHOLDS ASSETLIFE INSURANCE.. LIFE COMPANY RESERVES LIAB.LIFE INSURANCE COS. ACCIDENT AND HEALTH POLICY DIVIDEND ACCUM. ASSETHOUSEHOLDS (D) NONLIFE INSURANCE CLAIMS... LIAB.OTHER INSURANCE. ASSETHOUSEHOLDS FARM BUSINESS NONFARM NONCORP. BUS.. NNFN. CORP. BUSINESS (E) UNALLOCATED ASSETS LIAB.. NET TOTAL (LIAB. LESS ASSETS). l.l.. l.l NET CHANGE IN LIABILITIES REST OF THE WORLD U.S. GOVERNMENT U.S. GOVT.WITHOUT LEVELS SPONSORED CREDIT AGENCIES MONETARY AUTHORITIES...% li COMMERCIAL BANKING COMMERCIAL BANKS BANK AFFILIATES FOREIGN BANKING AGENCIES BANKS IN U.S. POSS. FLOATS IN COML. BANK STMNT ON INTERBANK DEPOSITS ON INTERBANK LOANS LESS: ON MEMBER BK. RES. ~ SAVINGS LOAN ASSNS. MUTUAL SAVINGS BANKS LIFE INSURANCE COMPANIES FINANCE COMPANIES REITS NET CHANGE IN ASSETS NNFN. CORPORATE BUSINESS REST OF THE WORLD SPONSORED CREDIT AGENCIES MONETARY AUTHORITY COMMERCIAL BANKS FOREIGN BANKING AGENCIES BANKS IN U.S. POSSESSIONS SAVINGS + LOAN ASSNS. MUTUAL SAVINGS BANKS LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS REITS MONEY MARKET FUNDS BILLIONS OF DOLLARS. / BASED ON INCOMPLETE INFORMATION.

58 AUGUST t TOTAL CLAiMS TOTAL CLAIMS TOTAL FINANCIAL ASSETS AND LIABILITIES UNADJUSTED NET FLOWS ($ MILL.) UNADJUSTED NET FLOWS ( MILL.) I IV I BILLIONS OF DOLLARS TOTAL FUNDS RAISED AND ADVANCED IN CREDIT MARKETS () TOTAL FUNDS RAISED IN CREDIT MARKETS BY: NNFNANCIAL SECTORS U.S. GOVERNMENT FOREIGN PRIVATE DOMESTIC HOUSEHOLDS FARM BUSINESS NONFARM NONCORP. BUS. CORPORATE BUSINESS ST.+LOC. GOVERNMENTS FINANCIAL SECTORS SPNSR CREDIT AGENCIES MORTGAGE POOLS COMMERCIAL BANKS BANK AFFILIATES SAVINGS LOAN ASSNS. OTHER INSURANCE COMPANIES FINANCE COMPANIES REITS OPENEND INVESTMENT COS. MONEY MARKET FUNDS.... o Z TOTAL FUNDS ADVANCED IN CREDIT MARKETS BY: PRIVATE DOM. NONFIN. SECTORS HOUSEHOLDS NONFARM NONCORP. BUSINESS CORPORATE BUSINESS STATE + LOCAL GOVERNMENTS.... ^. d?..... REST OF THE WORLD. U.S. GOVERNMENT.. FINANCIAL INSTITUTIONS SPONSCRED CREDIT AGENCIES MORTGAGE POOLS FEDERAL RESERVE SYSTEM b.... e.. COMMERCIAL BANKING COMMERCIAL BANKS BANK AFFILIATES FOREIGN BANKING AGENCIES BANKS IN U.S. POSS... PRIVATE NONBANK FINANCE SAVINGS INSTITUTIONS SAVINGS LOAN ASSNS. MUTUAL SAVINGS BANKS CREDIT UNIONS.....b a..... INSURANCE itctor LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS ST.+LOC. GOVT. RTR. FUND OTHER INSURANCE COS... <: ? FINANCE N.fc.C. FINANCE COMPANIES REITS OPcNEND INVESTMENT COS. MONEY MARKET FUNDS SECURITY BKRS. + DEALERS. S o..... rotal FINANCIAL ASStTS TOTAL FUNDS RAISED (FROM PRECEDING TABLE) OTHER LIABILITIES: OFFICIAL FOREIGN EXCHANGE TREASURY CuRR. SDR CTFS.. L. DEPOSITS AT FINANCIAL INSTS. DEMAND DEP. + CURRENCY TIME DEPOSITS AT BANKS DEP. AT SAVINGS INSTIT.. b... o tt..... LIFE INSURANCE RESERVES PENSION FUND RESERVES.. SECURITY CREDIT TRADE DEBT PROFIT TAXES PAYABLE NONCORP. PROPRIETORS' EQUITY MISCELLANEOUS ^. ^..... INTERBANK CLAIMS. TOTAL LIABILITIES ABOVE. FLOATS NOT NCL. IN ASSETS DEMAND OEPGSITSU.S. GOVT. OTHER...^ TRADE CREDIT LIABILITIES NOT ALLOCATED AS ASSETS TREASURY CURRENCY PROFIT TAXES PAYABLE MISCELLANEOUS..d..... TOTALS ALLOCATED TO SECTORS AS ASSETS.. () INCLUDES CORPORATE EQUITIES. / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION.

59 TOTAL CLAIMS TOTAL CLAIMS TOTAL FINANCIAL ASSETS AND LIABILITIES I I IV TOTAL FUNDS RAISED AND ADVANCED IN CREDIT MARKETS () b G..... Z.l... o TOTAL FUNDS RAISED IN CRbDIT MARKETS Y: NNFINANCAL SECTORS U.S. GOVERNMENT. FOREIGN. PRIVATE DOMESTIC HOUSEHOLDS FARM BUSINESS NONFARM NONCORP. BUS. CORPORATE BUSINESS ST.+LOC. GOVERNMENTS U. FINANCIAL SECTORS SPONSORED CREDIT AGENCIES MORTGAGE POOLS COMMERCIAL BANKS BANK AFFILIATES SAVINGS + LOAN ASSNS. OTHER INSURANCE COMPANIES FINANCE CCMPANIES RtlTS OPENEND INVESTMENT COS. MONEY MARKET FUNDS TOTAL FUNDS ADVANCED IN CREDIT MARKETS BY: PRIVATE DOM. NNFN. SECTORS. HOUSEHOLDS NONFARM NONCORP. BUSINESS CORPORATE BUSINESS STATE LOCAL GOVERNMENTS REST OF THE WORLD U.S. GOVERNMENT! IV.... FINANCIAL INSTITUTIONS SPONSORED CREDIT AGENCIES MORTGAGE POOLS FEDERAL keserve SYSTEM o COMMERCIAL BANKING COMMERCIAL BANKS BANK AFFILIATES FOREIGN BANKING AGENCIES BANKS IN U.S. POSS...C.... lb., PRIVATE NONBANK FINANCE SAVINGS INSTITUTIONS SAVINGS + LOAN ASSNS. MUTUAL SAVINGS BAfoKS CREDIT UNIONS b It. ^.. INSURANCE SfeCTOR LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS < ST.H.OC. GOVT RTR. FUND OTHER INSURANCE LOS.... b.b TOTAL CLAIMS AND THEIR RELATION TO TOTAL FINANCIAL. ASStTS FINANCE N.E.C. FINANCE COMPANIES REITS OPENEND INVESTMENT CDS. MONEY MARKET FUNDS SECURITY BKRS. + DEALERS.... o.. t».g. «H.. ~i. TOTAL FUNDS RAISED (FROM PRtCEulNG TAbLt) OTHER LIABILITIES: OFFJ CIAL FOREIGN EXCHANGE TREASURY CURR. SDR CTFS. DEPOSITS AT FINANCIAL NSTS. DEMAND DEP. + CURRENCY TIME DtPOSlTS AT BANKS DEP. AT SAVINGS INSTIT.... b o.l LIFE INSURANCE RESERVES PENSION FUND RESERVES G SECURITY CREDIT TRADE DEBT PROFIT TAXES PAYABLfc NONCORP. PROPRIETORS EQUITY MISCELLANEOUS. INTERBANK CLAIMS.... «... «o? ~.]... ~.\ TOTAL LIABILITIES ABOVE FLOATS NOT NCL. IN ASSETS DEMAND OEPOSITSU.S. GOVT. OTHER TRADE CREDIT LIABILITIES NOT ALLOCATED AS ASSETS TREASURY CURRENCY PROFIT TAXtS PAYABLE MISCtLLANEOUS ( TOTALS ALLOCATED fo SECTORS AS ASSfcrS () INCLUDES CORPORATE EQUITIES. BILLIONS OF DOLLARS. / BASED ON INCOMPLETE INFORMATION.

60 SAVING BY INDIVIDUALS SAVING BY INDIVIDUALS AMOUNT AND COMPOSITION OF INDIVIDUALS SAVING () UNADJUSTED NET FLOWS ( MILL.) UNADJUSTED NET FLOWS ($ MILL.) BILLIONS OF DOLLARS INCREASE IN FINANCIAL ASSETS.. DEMAND DEPOSITS CURRENCY SAVINGS ACCOUNTS.. SECURITIES.. U.S. SAVINGS BONDS.. OTHER U.S. TREASURY SEC.. b U.S. GOVT. AGENCY SEC. STATE + LOCAL OBLIGATIONS. CORPORATE FOREIGN BONDS COMMERCIAL PAPER INVESTMENT COMPANY SHARES OTHER CORPORATE EQUITIES PRIVATE LIFE INSURANCE RES. PRIVATE INSURED PENSION RES. PRIVATE NONINSUREO PEN. RES. GOVT. INSURANCE + PEN. RES. MISCELLANEOUS FINAN. ASSES..... GRuSS INV. IN TANGIBLE ASSETS. NONFARM HOMES NONCORP. BUS. PLANT EQUIP... CONSUMER DURABLES INVENTORIES b l.bob.. CAPITAL CONSUMPTION ALLOWANCES NONFARM HOMES NCNCORP. BUS. PLANT EQUIP... CONSUMER DURABLES.. NET INV. IN TANGIBLE ASSETS NONFARM HOMES.. NONCORP. BUS. PLANT EQUIP. CONSUMER DURABLES.. INVENTORIES NET INCREASE IN OcbT MTG. DEoT ON NONFARM HOMES NONCORP BUS. MORTGAGE DEBT CONSUMER CREDIT SECURITY CREDIT POLICY LOANS OTHER DEBT.. b......f.... INDIVIDUALS' SAVING (+) (I) COMblNED STATEMENT FOR HOUSEHOLDS, AND NONFARM NONCORPORATE BUSINESS. / BASED ON PRELIMINARY AND INCOMPLETE INFORMATION.