Financial Accounts of the United States

RFor use at 12:00 noon, eastern time June 11, 2020

F EDERAL R ESERVE S TATISTICAL R ELEASE

Z.1 Financial Accounts of the United States

Flow of Funds, Balance Sheets, and Integrated Macroeconomic Accounts

First Quarter 2020

B OARD OF G OVERNORS OF THE F EDERAL R ESERVE S YSTEM

Recent Developments in Household Net Worth and Domestic Nonfinancial Debt

The net worth of households and nonprofits fell to annual rate of 1.6 percent, while mortgage debt $110.8 trillion in the first quarter of 2020. The value of (excluding charge-offs) grew at an annual rate of 3.2 directly and indirectly held corporate equities decreased percent. $7.8 trillion and the value of real estate increased $0.4 trillion. Nonfinancial business debt rose at an annual rate of 18.8 percent in the first quarter of 2020, up from a 2.0 Domestic nonfinancial debt outstanding was $55.9 percent annual rate in the previous quarter. trillion at the end of the first quarter of 2020, of which household debt was $16.3 trillion, nonfinancial business Federal government debt increased 14.3 percent at an debt was $16.8 trillion, and total government debt was annual rate in the first quarter of 2020, up from a 3.8 $22.8 trillion. percent annual rate in the previous quarter.

Domestic nonfinancial debt expanded 11.7 percent at State and local government debt expanded at an an annual rate in the first quarter of 2020, up from an annual rate of 0.1 percent in the first quarter of 2020, annual rate of 3.2 percent in the previous quarter. after expanding at an annual rate of 4.5 percent in the previous quarter. Household debt increased 3.9 percent at an annual rate in the first quarter of 2020. Consumer credit grew at an

Household Net Worth and Growth of Domestic Nonfinancial Debt Growth of domestic nonfinancial debt2 Household Federal State and Year net worth1 Total Households Businesses government local gov’ts 2010 66,465 4.4 -0.6 -0.8 18.5 2.7 2011 67,742 3.6 -0.0 2.6 10.8 -1.2 2012 72,846 4.8 1.0 5.0 10.1 0.1 2013 81,714 3.7 1.7 4.5 6.7 -1.7 2014 87,544 4.1 2.1 6.5 5.4 -1.2 2015 90,629 4.4 2.4 6.9 5.0 0.4 2016 95,912 4.4 3.2 5.3 5.6 1.1 2017 104,793 4.2 4.0 6.0 3.7 0.0 2018 105,727 4.7 3.2 4.2 7.6 -1.6 2019 117,335 4.7 3.4 4.8 6.7 0.3

2018: Q1 105,550 6.7 3.1 3.9 14.3 -3.2 Q2 107,190 4.0 3.5 3.3 5.7 -0.4 Q3 109,194 4.3 3.4 4.3 5.9 -1.4 Q4 105,727 3.4 2.8 4.8 3.7 -1.4 2019: Q1 111,173 6.0 2.1 6.8 9.8 -1.3 Q2 113,151 3.1 4.3 4.3 2.1 -2.5 Q3 114,239 6.4 3.4 5.7 10.4 0.6 Q4 117,335 3.2 3.4 2.0 3.8 4.5 2020: Q1 110,787 11.7 3.9 18.8 14.3 0.1 1. Shown on table B.101, which includes nonprofit organizations. Billions of dollars; amounts outstanding end of period, not seasonally adjusted. 2. Percentage changes calculated as transactions at a seasonally adjusted annual rate divided by previous quarter’s seasonally adjusted level, shown at an annual rate.

iii

Release Highlights First Quarter 2020

Topic Description Improved Recent Developments A new Recent Developments page has been added to the Z.1 release page. The Recent Developments page includes new analysis and charts related to recent events and developments in the Financial Accounts of the United States. The new page can be found at https://www.federalreserve.gov/releases/z1/20200611/html/rec ent_developments.htm Monetary authority sector The monetary authority sector (tables F.109 and L.109) has been modified to include expanded detail on Federal Reserve facilities, including interbank loans associated with the Money Market Mutual Fund Liquidity Facility (MMLF), and depository institution loans n.e.c. associated with the MMLF and the Primary Dealer Credit Facility (PDCF). Designated financial market utility Deposits of designated financial market utilities (DFMU) at deposits at Federal Reserve banks Federal Reserve banks have been added to the checkable deposits and currency liabilities of the monetary authority sector (tables F.109 and L.109). DFMU deposits were previously included in other miscellaneous liabilities of the monetary authority. DFMU deposits at the Federal Reserve banks are now reported as assets of the other financial business sector (tables F.132 and L.132). Nonfinancial noncorporate business Nonfinancial noncorporate business sector data (tables F.104, sector L.104, B.104, and R.104) has revised from 2010:Q4 forward due to improved methodology and to reflect new benchmark data from the Internal Revenue Service Statistics of Income for 2017. Nonfinancial corporate business Nonfinancial corporate business sector data (tables F.103, sector L.103, B.103, and R.103) has revised from 2018:Q1 forward to reflect new benchmark data from the Internal Revenue Service Statistics of Income for 2018. Consumer credit Total consumer credit (tables F.222 and L.222) has been revised from 2010:Q1 forward owing to new seasonal factors reflected in the Federal Reserve Board's G.19 statistical release on April 7, 2020. Susan Hume McIntosh This is the last publication led by Susan Hume McIntosh, who will retire in August, 2020. Susan joined the Federal Reserve Board of Governors in September, 1972, and for decades led the publication of the Financial Accounts of the United States. She spearheaded countless innovations to the Financial Accounts, trained generations of analysts, has worked with numerous statistical agencies in other countries and international organizations, and is considered a leading international expert on financial accounts. The Flow of Funds team cannot thank Susan enough for her invaluable contributions, and wishes her the best in her retirement. We hope that she will continue to contribute to the national accounting community in the United States and worldwide.

Explanatory Notes

Financial Accounts of the United States Concepts of Levels and Transactions in the SNA and the Financial Accounts The Statistical Release Z.1, Financial Accounts of the United States, or Financial Accounts, is organized into The level of an asset or liability (also referred to as the the following sections: “stock” or “outstanding”) measures the value of the asset or liability in existence at a point in time. In the ■ Matrices summarizing transactions and levels Financial Accounts, the levels are reported as of the end across sectors and tables on debt growth, net of each calendar quarter. In the SNA2008, the change in national wealth, gross domestic product (GDP), the level from one period to the next is called the national income, saving, and so on economic flow, and can be decomposed into three broad ■ Transactions of financial assets and liabilities, elements: transactions, which measure the exchange of by sector and by financial instrument assets; revaluations, which measure holding gains and ■ Levels of financial assets and liabilities, by losses; and other changes in volume, which measure sector and by financial instrument discontinuities or breaks in time series due to disaster ■ Balance sheets, including nonfinancial assets, losses or a change in source data or definition. In and changes in net worth for households and practice, other volume changes are relatively rare, and nonprofit organizations, nonfinancial corporate revaluations occur mainly for series carried at market businesses, and nonfinancial noncorporate value (such as corporate equities, real estate, and some businesses debt securities), so for many series the change in the Supplementary balance sheet tables for the level is equal to the transactions element. household sector, nonprofit organization sector, and the household and nonprofit organization Growth Rates sector with additional equity detail Growth rates calculated from levels include revaluations ■ Integrated Macroeconomic Accounts (IMA) and other changes in volume. In order to isolate the effect of transactions on the growth of a given asset or The IMA relate production, income, saving, and capital liability, users should calculate the ratio of transactions formation from the Bureau of Economic Analysis’s in a given period to the level in the preceding period. (BEA) national income and product accounts (NIPA) to changes in net worth from the Financial Accounts on a Growth rates in table D.1 are calculated by dividing sector-by-sector basis. The IMA are published jointly by transactions at a seasonally adjusted annual rate from the Federal Reserve Board and BEA and are based on table D.2 by seasonally adjusted levels at the end of the international guidelines and terminology as defined in previous period from table D.3. Growth rates calculated the System of National Accounts (SNA2008). from changes in unadjusted levels may differ from those in table D.1. Federal Reserve Board staff have taken many steps over the past several years to conform the Financial Accounts Seasonal Adjustment with the SNA2008 guidelines. Nonetheless, a few important differences remain, in particular, the Seasonal factors are recalculated and updated every following in the Financial Accounts: September with the release of second-quarter data. Series that exhibit significant seasonal patterns are ■ The purchase of consumer durables is treated as adjusted. The seasonal factors are generated using the X- investment rather than as consumption. 13-ARIMA seasonal adjustment program from the U.S. ■ Nonfinancial noncorporate businesses (which Census Bureau, estimated using the most recent 10 years are often small businesses) are shown in a of transaction data. Because the effects of the recent separate sector rather than being included in the financial crisis resulted in distortions in the estimated household sector. seasonal factors for some series, seasonal factors for ■ Some debt securities are recorded at book value these series have been extrapolated using pre-crisis data. rather than market value. Seasonally adjusted levels shown in table D.3 are derived by carrying forward year-end levels by seasonally adjusted transactions.

vi Data Revisions breakdown of what the letters and numbers represent in the series mnemonics. Some data submissions to Data shown for the most recent quarters are based on international organizations are also available in the preliminary and potentially incomplete information. A guide. The guide is updated with the quarterly release summary list of the most recent data available for each and is available online: sector is provided in a table following these notes. Nonetheless, when source data are revised or estimation www.federalreserve.gov/apps/fof methods are improved, all data are subject to revision. There is no specific revision schedule; rather, data are Enhanced Financial Accounts and Data revised on an ongoing basis. In each release of the Financial Accounts, major revisions are highlighted at Visualization the beginning of the publication. Additional supplementary information is available online in the Enhanced Financial Accounts, which Discrepancies augment the Financial Accounts with finer detail, additional types of activities, higher-frequency data, and The data in the Financial Accounts come from a large more-disaggregated data. Links to the Enhanced variety of sources and are subject to limitations and Financial Accounts are available from both the uncertainty due to measurement errors, missing Financial Accounts Guide page and the main release information, and incompatibilities among data sources. page. In addition, interactive online data visualizations The size of this uncertainty cannot be quantified, but its are available for selected components of the Financial existence is acknowledged by the inclusion of Accounts and Enhanced Financial Accounts. Links are “statistical discrepancies” for various sectors and available also on the same pages. financial instruments.

The discrepancy for a given sector is defined as the Production Schedule difference between the aggregate value of the sector’s The Financial Accounts are published four times per sources of funds and the value of its uses of funds. year, about 10 weeks following the end of each calendar Sources of funds are gross savings less net capital quarter. The publication is available online: transfers paid and net increase in liabilities; uses of funds are capital expenditures and the net acquisition of www.federalreserve.gov/releases/Z1 financial assets. If a sector’s sources of funds are greater than its uses of funds, the sector is a net lender of funds This website also provides CSV files of quarterly data in the accounts. In the reverse case, the sector would be for transactions at a seasonally adjusted annual rate, a net borrower of funds. Most of the data for deriving unadjusted transactions, levels outstanding, balance gross savings come from the BEA’s NIPA. For a sheets, debt tables, supplementary tables, and the IMA. financial instrument category, the discrepancy is defined as the difference between the measurement of funds In addition, the data are available as customizable raised through the financial instrument and funds datasets through the Federal Reserve Board’s Data disbursed through that instrument. The relative size of Download Program online: the statistical discrepancy is one indication of the quality of the underlying source data. Note that differences in www.federalreserve.gov/datadownload/default.htm seasonal adjustment procedures sometimes result in quarterly discrepancies that partially or completely Print Subscription Information offset each other in the annual data. The Federal Reserve Board charges a fee for Financial Accounts Guide subscriptions to print versions of statistical releases. Inquiries regarding print versions should be directed to Substantially more detail on the construction of the the following office: Financial Accounts is available in the Financial Accounts Guide, which provides interactive, online Publications Services, Stop 127 documentation for each data series. The tools and Board of Governors of the Federal Reserve System descriptions in the guide are designed to help users 20th Street and Constitution Avenue, N.W. understand the structure and content of the Financial Washington, DC 20551 Accounts. (202) 452-3245

Each input and calculated series in the Z.1 is identified according to a unique string of patterned numbers and letters. The series structure page of the guide provides a

vii Description of Most Recent Data Available

Sector Table Available at time of publication National income and product Second estimate, seasonally adjusted, for 2020:Q1. Corporate accounts (NIPA) profits through 2020:Q1 (preliminary). Government receipts and (various tables) expeditures unadjusted transactions from 1952:Q1 forward. GDP and income unadjusted transactions from 2002:Q1 forward. Many BEA series are downloaded via Haver Analytics. Households and nonprofit Estimates for this sector are largely residuals and are derived organizations sector from data for other sectors. Availability of data depends on (tables F.101 and L.101) schedules for other sectors. Data for consumer credit, which are estimated directly, are available through 2020:Q1. Internal Revenue Service Statistics of Income (IRS/SOI) data for private foundations and Section 501(c)(3-9) nonprofit organizations are available through 2016 (table B.101.n). Nonfinancial corporate business Quarterly Financial Report (QFR) of the Census Bureau through (tables F.103 and L.103) 2020:Q1; IRS/SOI data through 2018. Securities offerings, mortgages, bank loans, commercial paper, and other loans through 2020:Q1. Corporate farm data through 2018; USDA forecast through 2020:Q1. Nonfinancial noncorporate business IRS/SOI data through 2017; bank and finance company loans, (tables F.104 and L.104) and mortgage borrowing through 2020:Q1. Noncorporate farm data through 2018; USDA forecast through 2020:Q1. Federal government Data from the Monthly Treasury Statement of Receipts and (tables F.106 and L.106) Outlays and Monthly Statement of the Public Debt, and loan programs through 2020:Q1. State and local governments Gross offerings and retirements of municipal securities, deposits (tables F.107 and L.107) at banks, nonmarketable U.S. government security issues, and MMF shares through 2020:Q1. Data for total financial assets from Census Bureau through 2017:Q2. Additional financial asset detail from comprehensive annual financial reports of state and local governments through 2011:Q2. Monetary authority All data through 2020:Q1. (tables F.109 and L.109) U.S.-chartered depository All data through 2020:Q1. institutions (tables F.111 and L.111) Foreign banking offices in U.S. All data through 2020:Q1. (tables F.112 and L.112) Banks in U.S.-affiliated areas All data through 2020:Q1. (tables F.113 and L.113) Credit unions Data for Credit Union National Association and corporate credit (tables F.114 and L.114) union Call Reports through 2020:Q1. Natural person credit union Call Reports through 2019:Q4. Property-casualty insurance All data through 2020:Q1. companies (tables F.115 and L.115) viii Sector Table Available at time of publication Life insurance companies All data through 2020:Q1. (tables F.116 and L.116) Private pension funds Internal Revenue Service/Department of Labor Form 5500 data (tables F.118 and L.118) through 2017. Investment Company Institute data through 2019:Q4. BEA annual actuarial liability data through 2018:Q4. Federal government retirement Data from the Monthly Treasury Statement of Receipts and funds Outlays, the Thrift Savings Plan, and the National Railroad (tables F.119 and L.119) Retirement Investment Trust through 2020:Q1. BEA annual actuarial liability data through 2018:Q4. State and local government Detailed annual survey data through 2018:Q2 and quarterly employee retirement funds survey data through 2019:Q4 from the Census Bureau. (tables F.120 and L.120) Investment Company Institute data through 2019:Q4. BEA annual actuarial liability data through 2018:Q4. Money market funds All data through 2020:Q1. (tables F.121 and L.121) Mutual funds All data through 2020:Q1. (tables F.122 and L.122) Closed-end funds All data through 2020:Q1. (tables F.123 and L.123) Exchange-traded funds All data through 2020:Q1. (tables F.124 and L.124) Government-sponsored enterprises Data for Fannie Mae, Freddie Mac, FICO, REFCORP, Farmer (GSEs) Mac, FCS, FHLB through 2020:Q1. (tables F.125 and L.125) Agency- and GSE-backed Data for Freddie Mac, Fannie Mae, Farmer Mac, and Ginnie mortgage pools Mae through 2020:Q1. (tables F.126 and L.126) Issuers of asset-backed securities All data for private mortgage pools, consumer credit, business (ABS) loans, student loans, consumer leases, and trade credit (tables F.127 and L.127) securitization through 2020:Q1. Finance companies All data through 2020:Q1. (tables F.128 and L.128) Real estate investment trusts All data through 2020:Q1. (REITs) (tables F.129 and L.129) Security brokers and dealers FOCUS and FOGS reports through 2020:Q1. (tables F.130 and L.130) Holding companies All data through 2020:Q1. (table F.131 and L.131) Other financial business Estimates for this sector are largely residuals and are derived (tables F.132 and L.132) from data for other sectors. Rest of the world NIPA estimates, depository institutions’ Call Reports, and (tables F.133 and L.133) Treasury International Capital System through 2020:Q1. International transaction accounts and international investment position through 2019:Q4.

List of Data Tables

Title Table Page

Summaries

Financial Accounts Matrix—Transactions 1 Financial Accounts Matrix—Levels 3 Debt Growth by Sector D.1 5 Borrowing by Sector D.2 6 Debt Outstanding by Sector D.3 7 Derivation of U.S. Net Wealth B.1 8 Distribution of Gross Domestic Product F.2 9 Distribution of National Income F.3 10 Saving and Investment F.4 11 Net Capital Transfers F.5 12 Derivation of Measures of Personal Saving F.6 13 Assets and Liabilities of the Personal Sector L.6 14

Transactions Levels Title Table Page Table Page

Sectors

Domestic Nonfinancial F.100 15 L.100 77 Households and Nonprofit Organizations F.101 16 L.101 78 Nonfinancial Business F.102 17 L.102 79 Nonfinancial Corporate Business F.103 18 L.103 80 Nonfinancial Noncorporate Business F.104 19 L.104 81 General Government F.105 20 L.105 82 Federal Government F.106 21 L.106 83 State and Local Governments F.107 22 L.107 84 Domestic Financial F.108 23 L.108 85 Monetary Authority F.109 24 L.109 86 Private Depository Institutions F.110 25 L.110 87 U.S.-Chartered Depository Institutions F.111 26 L.111 88 Foreign Banking Offices in U.S. F.112 27 L.112 89 Banks in U.S.-Affiliated Areas F.113 28 L.113 90 Credit Unions F.114 29 L.114 90

x Sectors

Property-Casualty Insurance Companies F.115 29 L.115 91 Life Insurance Companies F.116 30 L.116 92 Life Insurance Companies: General Accounts F.116.g 31 L.116.g 93 Life Insurance Companies: Separate Accounts F.116.s 31 L.116.s 93 Private and Public Pension Funds F.117 32 L.117 94 Private Pension Funds F.118 33 L.118 95 Private Pension Funds: Defined Benefit Plans F.118.b 34 L.118.b 96 Private Pension Funds: Defined Contribution Plans F.118.c 34 L.118.c 96 Federal Government Employee Retirement Funds F.119 35 L.119 97 Federal Government Employee Retirement Funds: Defined Benefit Plans F.119.b 36 L.119.b 98 Federal Government Employee Retirement Funds: Defined Contribution Plans F.119.c 37 L.119.c 98 State and Local Government Employee Retirement Funds F.120 37 L.120 99 State and Local Government Employee Retirement Funds: Defined Benefit Plans F.120.b 38 L.120.b 100 State and Local Government Employee Retirement Funds: Defined Contribution Plans F.120.c 38 L.120.c 100 Money Market Funds F.121 39 L.121 101 Mutual Funds F.122 39 L.122 101 Closed-End Funds F.123 40 L.123 102 Exchange-Traded Funds F.124 40 L.124 102 Government-Sponsored Enterprises F.125 41 L.125 103 Agency- and GSE-Backed Mortgage Pools F.126 41 L.126 103 Issuers of Asset-Backed Securities F.127 42 L.127 104 Finance Companies F.128 43 L.128 105 Real Estate Investment Trusts (REITs) F.129 44 L.129 106 Equity Real Estate Investment Trusts F.129.e 45 L.129.e 107 Mortgage Real Estate Investment Trusts F.129.m 45 L.129.m 107 Security Brokers and Dealers F.130 46 L.130 108 Holding Companies F.131 47 L.131 109 Other Financial Business F.132 48 L.132 110 Rest of the World F.133 49 L.133 111

Instruments

U.S. Official Reserve Assets and SDR Allocations F.200 50 L.200 112 Special Drawing Rights (SDRs) Certificates and Treasury Currency F.201 50 L.201 112 U.S. Deposits in Foreign Countries F.202 50 L.202 112 Net Interbank Transactions F.203 51 L.203 113 Checkable Deposits and Currency F.204 52 L.204 114 Time and Savings Deposits F.205 53 L.205 115 Money Market Fund Shares F.206 53 L.206 115

Federal Funds and Security Repurchase Agreements F.207 54 L.207 116 Debt Securities F.208 55 L.208 117 Open Market Paper F.209 56 L.209 118 Treasury Securities F.210 57 L.210 119 Agency- and GSE-Backed Securities F.211 58 L.211 120 Municipal Securities F.212 59 L.212 121 Corporate and Foreign Bonds F.213 60 L.213 122 Loans F.214 61 L.214 123 Depository Institution Loans Not Elsewhere Classified F.215 62 L.215 124 Other Loans and Advances F.216 63 L.216 125 Total Mortgages F.217 64 L.217 126 One-to-four-family Residential Mortgages F.218 65 L.218 127 Multifamily Residential Mortgages F.219 65 L.219 127 Commercial Mortgages F.220 66 L.220 128 Farm Mortgages F.221 66 L.221 128 Consumer Credit F.222 67 L.222 129 Corporate Equities F.223 68 L.223 130 Mutual Fund Shares F.224 68 L.224 130 Trade Credit F.225 69 L.225 131 Life Insurance Reserves F.226 69 L.226 131 Pension Entitlements F.227 70 L.227 132 Taxes Payable by Businesses F.228 70 L.228 132 Proprietors' Equity in Noncorporate Business F.229 70 L.229 132 Direct Investment F.230 71 L.230 133

xii Total Miscellaneous Financial Claims F.231 72 L.231 134 Identified Miscellaneous Financial Claims—Part I F.232 73 L.232 135 Identified Miscellaneous Financial Claims—Part II F.233 74 L.233 136 Unidentified Miscellaneous Financial Claims F.234 75 L.234 137 Sector Discrepancies F.7 76 Instrument Discrepancies F.8 76

Balance Sheet Change in Net Worth Title Table Page Table Page

Balance Sheet and Change in Net Worth

Households and Nonprofit Organizations B.101 138 R.101 141 Nonfinancial Corporate Business B.103 139 R.103 142 Nonfinancial Noncorporate Business B.104 140 R.104 143

Title Table Page

Supplementary Tables

Balance Sheet of Households B.101.h 144 Balance Sheet of Nonprofit Organizations B.101.n 145 Balance Sheet of Households and Nonprofit Organizations with Debt and Equity Holdings Detail B.101.e 146

Title Table Page

Integrated Macroeconomic Accounts for the United States

Total Economy—Current Account S.1.a 147 Selected Aggregates for Total Economy and Sectors S.2.a 148 Households and Nonprofit Institutions Serving Households S.3.a 150 Nonfinancial Noncorporate Business S.4.a 153 Nonfinancial Corporate Business S.5.a 156 Financial Business S.6.a 159 Central Bank S.61.a 162 Private Depository Institutions S.62.a 164 Insurance Companies S.63.a 167 Pension Funds S.64.a 170 Other Financial Business S.65.a 173 Federal Government S.7.a 176 State and Local Governments S.8.a 179 Rest of the World S.9.a 182

Z.1, June 11, 2020 Financial Accounts Matrix--Transactions for 2019 (Billions of dollars; seasonally adjusted)

Households State Domestic Domestic Instrument and Nonprofit Nonfinancial Federal and Local Nonfinancial Financial Rest of All Discrep- Organziations Business Government Governments Sectors Sectors the World Sectors ancy

USUSUSUSUSUSUSUS (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17)

1 Gross saving less net cap. transfers -- 3302.4 -- 2541.0 -- -952.0 -- 154.4 -- 5045.8 -- 249.3 -- 503.3 -- 5798.5 -- 2 Capital consumption -- 1723.6 -- 2018.1 -- 294.2 -- 292.7 -- 4328.6 -- 256.2 ------4584.7 -- 3 Net saving (1 less 2) -- 1578.8 -- 522.9 -- -1246.2 -- -138.3 -- 717.3 -- -6.8 -- 503.3 -- 1213.8 --

4 Gross investment (5 plus 11) 3802.0 -- 2150.8 -- -875.0 -- 137.0 -- 5214.7 -- 406.3 -- 250.7 -- 5871.7 -- -73.2 5 Capital expenditures 2298.4 -- 2550.3 -- 305.9 -- 440.6 -- 5595.3 -- 306.8 -- 0.0 -- 5902.2 -- -103.6 6 Consumer durables 1423.7 ------1423.7 ------1423.7 -- -- 7 Residential 670.9 -- 119.5 -- -0.3 -- 5.1 -- 795.2 -- 7.1 ------802.3 -- -- 8 Nonresidential 216.8 -- 2361.6 -- 309.3 -- 420.4 -- 3308.1 -- 299.7 ------3607.9 -- -- 9 Inventory change -- -- 68.3 ------68.3 ------68.3 -- -- 10 Nonproduced nonfinancial assets -13.0 -- 1.0 -- -3.1 -- 15.1 -- 0.0 ------0.0 ------

11 Net lending (+) or net borrowing (-) 1503.6 -- -399.6 -- -1181.0 -- -303.7 -- -380.7 -- 99.5 -- 250.7 -- -30.5 -- 30.5 12 Net acquisition of financial assets 2042.3 -- 1118.0 -- 8.7 -- 34.6 -- 3203.6 -- 3309.7 -- 611.7 -- 7124.9 -- -- 13 Net increase in liabilities and equity -- 538.8 -- 1517.5 -- 1189.7 -- 338.2 -- 3584.3 -- 3210.2 -- 361.0 -- 7155.4 --

14 U.S. official reserve assets ------4.6 0.0 -- -- 4.6 0.0 0.1 -- 0.0 4.7 4.7 4.7 -- 15 SDR certificates ------0.0 ------0.0 0.0 ------0.0 0.0 -- 16 Treasury currency ------0.0 ------0.0 0.3 ------0.3 0.0 -0.3 17 Foreign deposits -2.6 -- 10.4 ------7.8 -- 5.8 -- -- 35.6 13.6 35.6 22.0 18 Interbank claims ------5.6 -101.2 -84.7 -- -90.3 -101.2 -10.9 19 Checkable dep. and currency 19.8 -- 103.5 -- 1.0 -- 6.2 -- 130.5 -- 73.3 261.7 57.8 -- 261.7 261.7 -0.0 20 Time and savings deposits 527.1 -- 82.3 -- 0.3 -- 19.8 -- 629.5 -- 59.1 683.7 -4.9 -- 683.7 683.7 -- 21 Money market fund shares 408.4 -- 99.1 ------0.2 -- 507.7 -- 69.4 596.0 18.8 -- 596.0 596.0 -- 22 Fed. funds and security repos -- -- -2.8 ------2.2 -- -0.6 -- 579.7 225.1 11.6 112.5 590.7 337.6 -253.2

23 Debt securities 242.9 -3.3 70.6 260.9 0.0 1174.9 -27.3 8.8 286.2 1441.2 1325.1 440.9 478.5 207.6 2089.8 2089.8 -- 24 Open market paper -- -- 83.9 -1.1 -- -- 1.0 -- 85.0 -1.1 -40.7 -34.0 5.0 84.4 49.3 49.3 -- 25 Treasury securities 227.8 -- -9.8 -- -- 1176.6 -3.9 -- 214.2 1176.6 714.5 -- 248.0 -- 1176.6 1176.6 -- 26 Agency- and GSE-backed sec. 130.3 -- -3.6 -- 0.0 -1.7 -9.3 -- 117.4 -1.7 147.3 319.5 53.1 -- 317.8 317.8 -- 27 Municipal securities -52.8 -3.3 0.1 14.3 -- -- -0.4 8.8 -53.2 19.8 68.6 -- 4.5 -- 19.8 19.8 -- 28 Corporate and fgn. bonds -62.4 -- -- 247.7 0.0 -- -14.7 -- -77.1 247.7 435.3 155.4 168.0 123.2 526.2 526.2 --

29 Loans 8.6 527.6 3.3 472.4 100.0 15.8 3.6 1.8 115.5 1017.5 828.8 -68.5 96.5 91.8 1040.9 1040.9 -- 30 Depository inst. loans n.e.c. -- 8.6 -- 49.9 ------58.5 141.9 -1.6 -- 85.0 141.9 141.9 -- 31 Other loans and advances 23.7 29.1 -- 137.5 16.3 15.8 -- 1.8 40.0 184.1 -14.7 -69.1 96.5 6.8 121.9 121.9 -- 32 Mortgages -11.6 307.2 3.3 285.1 0.6 0.0 3.6 -- -4.1 592.3 598.6 2.2 -- -- 594.5 594.5 -- 33 Consumer credit -3.6 182.6 0.0 -- 83.1 ------79.6 182.6 103.1 ------182.6 182.6 --

34 Corporate equities 11.1 -- -16.4 -438.8 0.0 -- -3.4 -- -8.7 -438.8 -281.5 209.7 -190.0 -251.0 -480.1 -480.1 -- 35 Mutual fund shares 351.2 -- 5.0 ------1.2 -- 357.5 -- -93.6 208.2 -55.7 -- 208.2 208.2 -- 36 Trade credit 4.8 13.0 135.1 153.9 -1.5 17.0 10.8 50.2 149.2 234.1 12.1 15.4 19.8 1.2 181.0 250.7 69.6

37 Life insurance reserves 16.7 ------0.9 -- -- 16.7 0.9 17.4 31.7 0.3 1.8 34.4 34.4 -- 38 Pension entitlements 406.8 ------406.8 -- 7.7 412.0 0.6 3.1 415.1 415.1 -- 39 Taxes payable ------9.1 -102.7 -- 5.7 -- -97.0 -9.1 -- 12.9 -- -- -97.0 3.8 100.8 40 Equity in noncorp. business 6.0 -- -- 0.8 ------6.0 0.8 -- 5.2 -- -- 6.0 6.0 -- 41 U.S. direct investment abroad -- -- 109.4 ------109.4 -- 38.4 -- -- 147.8 147.8 147.8 -- 42 Foreign direct investment in U.S. ------229.3 ------229.3 -- 31.7 260.9 -- 260.9 260.9 -- 43 Miscellaneous 41.6 1.5 518.3 848.3 6.9 -18.9 15.7 277.4 582.5 1108.3 673.0 245.8 2.0 5.9 1257.5 1360.0 102.5

44 Sector discrepancies (1 less 4) -499.5 -- 390.3 -- -77.0 -- 17.4 -- -168.8 -- -156.9 -- 252.6 -- -73.2 -- -73.2

General Notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. 1 Summary Z.1, June 11, 2020 Financial Accounts Matrix--Transactions Summary

Households State Domestic Domestic Instrument 2 and Nonprofit Nonfinancial Federal and Local Nonfinancial Financial Rest of All Discrep- Organziations Business Government Governments Sectors Sectors the World Sectors ancy

USUSUSUSUSUSUSUS (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17)

1 Gross saving less net cap. transfers -- 156000105 -- 146000105 -- 316000105 -- 216000105 -- 386000105 -- 796000105 -- 266000105 -- 896000105 -- 2 Capital consumption -- 156300005 -- 146300005 -- 316300001 -- 216300001 -- 386300005 -- 796300005 ------886300005 -- 3 Net saving (1 less 2) -- 156006305 -- 146006305 -- 316006305 -- 216006305 -- 386006305 -- 796006305 -- 266000105 -- 896006305 --

4 Gross investment (5 plus 11) 155090005 -- 145090005 -- 315090005 -- 215090005 -- 385090005 -- 795090005 -- 265090005 -- 895090005 -- 907005005 5 Capital expenditures 155050005 -- 145050005 -- 315050005 -- 215050005 -- 385050005 -- 795019005 -- 265420005 -- 895050005 -- 906000105 6 Consumer durables 155111003 ------155111003 ------155111003 -- -- 7 Residential 155012005 -- 145012005 -- 315012065 -- 215012063 -- 385012005 -- 125012063 ------885012005 -- -- 8 Nonresidential 165013005 -- 145013005 -- 315013005 -- 215013005 -- 385013005 -- 795013005 ------885013005 -- -- 9 Inventory change -- -- 145020005 ------145020005 ------145020005 -- -- 10 Nonproduced nonfinancial assets 155420003 -- 105420005 -- 315420003 -- 215420003 -- 385420005 ------265420005 ------

11 Net lending (+) or net borrowing (-) 155000005 -- 145000005 -- 315000005 -- 215000005 -- 385000005 -- 795000005 -- 265000005 -- 895000005 -- 905000005 12 Net acquisition of financial assets 154090005 -- 144090005 -- 314090005 -- 214090005 -- 384090005 -- 794090005 -- 264090005 -- 894090005 -- -- 13 Net increase in liabilities and equity -- 154190005 -- 144194005 -- 314190005 -- 214190005 -- 384190005 -- 794190005 -- 264190005 -- 894190005 --

14 U.S. official reserve assets ------313011005 313111303 -- -- 313011005 313111303 713011005 -- 263011005 263111005 893011005 893111005 -- 15 SDR certificates ------713014003 ------713014003 713014003 ------713014003 713014003 -- 16 Treasury currency ------313112003 ------313112003 713012003 ------713012003 313112003 903012005 17 Foreign deposits 153091003 -- 103091003 ------383091005 -- 633091003 -- -- 263191005 893091005 263191005 903091005 18 Interbank claims ------794010005 794110005 264016005 -- 894010005 794110005 904010005 19 Checkable dep. and currency 153020005 -- 143020005 -- 313020005 -- 213020005 -- 383020005 -- 793020005 793120005 263020005 -- 893020005 793120005 903020005 20 Time and savings deposits 153030005 -- 143030005 -- 313030003 -- 213030000 -- 383030005 -- 793030005 703130005 263030005 -- 703130005 703130005 -- 21 Money market fund shares 153034005 -- 143034005 ------213034003 -- 383034005 -- 793034005 634090005 263034003 -- 634090005 634090005 -- 22 Fed. funds and security repos -- -- 102051003 ------212051003 -- 382051005 -- 792050005 792150005 262051005 262151003 892050005 892150005 902050005

23 Debt securities 154022005 163162003 144022005 104122005 314022005 314122005 214022005 213162005 384022005 384122005 794022005 794122005 264022005 264122005 894122005 894122005 -- 24 Open market paper -- -- 103069100 103169100 -- -- 213069103 -- 383069105 103169100 793069175 793169175 263069103 263169105 893169175 893169175 -- 25 Treasury securities 153061105 -- 143061105 -- -- 313161105 213061105 -- 383061105 313161105 793061105 -- 263061105 -- 313161105 313161105 -- 26 Agency- and GSE-backed sec. 153061705 -- 103061703 -- 313061703 313161705 213061703 -- 383061705 313161705 793061705 423161705 263061705 -- 893161705 893161705 -- 27 Municipal securities 153062005 163162003 143062005 103162000 -- -- 213062003 213162005 383062005 383162005 793062005 -- 263062003 -- 383162005 383162005 -- 28 Corporate and fgn. bonds 153063005 -- -- 103163003 313063763 -- 213063003 -- 383063005 103163003 793063005 793163005 263063005 263163005 893063005 893163005 --

29 Loans 154023005 154123005 144023005 144123005 314023005 314123005 213065005 213169203 384023005 384123005 794023005 794123005 263069500 264123005 894123005 894123005 -- 30 Depository inst. loans n.e.c. -- 153168005 -- 143168005 ------383168005 793068005 793168005 -- 263168005 793068005 793068005 -- 31 Other loans and advances 153069005 153169005 -- 143169005 313069005 313169003 -- 213169203 383069005 383169005 793069005 793169005 263069500 263169005 893169005 893169005 -- 32 Mortgages 153065005 153165005 143065005 143165005 313065005 313165403 213065005 -- 383065005 383165005 793065005 123165005 -- -- 893065005 893065005 -- 33 Consumer credit 163066223 153166000 143066005 -- 313066220 ------383066005 153166000 793066005 ------153166000 153166000 --

34 Corporate equities 153064105 -- 103064103 103164103 313064105 -- 213064103 -- 383064105 103164103 793064105 793164105 263064105 263164100 893064105 893064105 -- 35 Mutual fund shares 153064205 -- 103064203 ------213064203 -- 383064205 -- 793064205 653164205 263064203 -- 653164205 653164205 -- 36 Trade credit 163070005 163170005 143070005 143170005 313070000 313170005 213070003 213170003 383070005 383170005 793070005 793170005 263070005 263170005 893070005 893170005 903070005

37 Life insurance reserves 153040005 ------313140003 -- -- 153040005 313140003 793040005 543140005 543141905 263140005 893140005 893140005 -- 38 Pension entitlements 153050005 ------153050005 -- 543050005 583150005 543151905 263150005 893150005 893150005 -- 39 Taxes payable ------143178005 313078000 -- 213078005 -- 383078005 143178005 -- 793178005 -- -- 893078005 893178005 903078005 40 Equity in noncorp. business 152090205 -- -- 112090205 ------152090205 112090205 -- 662090003 -- -- 152090205 152090205 -- 41 U.S. direct investment abroad -- -- 103092005 ------103092005 -- 793092005 -- -- 263192005 263192005 263192005 -- 42 Foreign direct investment in U.S. ------143192005 ------143192005 -- 793192005 263092001 -- 263092001 263092001 -- 43 Miscellaneous 153090005 543077073 143090005 143190005 313090005 313190005 213093003 223073045 383090005 383190005 793090005 793190005 263076005 263190005 893090005 893190005 903090005

44 Sector discrepancies (1 less 4) 157005005 -- 107005005 -- 317005005 -- 217005005 -- 387005005 -- 797005005 -- 267005005 -- 897005005 -- 907005005

General Notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Z.1, June 11, 2020 Financial Accounts Matrix--Levels for 2019 (Billions of dollars; amounts outstanding end of period, not seasonally adjusted)

Households State Domestic Domestic Instrument and Nonprofit Nonfinancial Federal and Local Nonfinancial Financial Rest of All Discrep- Organizations Business Government Governments Sectors Sectors the World Sectors ancy

ALALALALALALALAL (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17)

1 Total financial assets 93942.4 -- 27104.5 -- 2854.9 -- 3156.6 -- 127058.4 -- 108007.8 -- 34892.2 -- 269958.4 -- -2267.7 2 Total liabilities and equity -- 16549.4 -- 84537.4 -- 21470.5 -- 8269.0 -- 130826.4 -- 112552.8 -- 24311.5 -- 267690.7 -- 3 Total liabilities -- 16549.4 -- 38654.7 -- 21470.5 -- 8269.0 -- 84943.7 -- 100982.2 -- 14797.9 -- 200723.8 --

4 U.S. official reserve assets ------97.8 48.8 -- -- 97.8 48.8 31.6 -- 48.8 118.3 178.2 167.1 -11.0 5 SDR certificates ------5.2 ------5.2 5.2 ------5.2 5.2 -- 6 Treasury currency ------25.3 ------25.3 50.1 ------50.1 25.3 -24.7 7 Foreign deposits 37.1 -- 116.7 ------153.8 -- 7.4 -- -- 824.4 161.2 824.4 663.3 8 Interbank claims ------1631.7 1709.7 122.2 -- 1753.8 1709.7 -44.2

9 Checkable dep. and currency 1211.6 -- 1619.8 -- 407.2 -- 139.1 -- 3377.7 -- 480.0 4845.4 985.8 -- 4843.5 4845.4 1.9 10 Time and savings deposits 10150.2 -- 1349.7 -- 2.3 -- 423.1 -- 11925.3 -- 362.1 12884.2 596.8 -- 12884.2 12884.2 -- 11 Money market fund shares 2207.4 -- 673.0 ------20.0 -- 2900.4 -- 604.4 3634.3 129.5 -- 3634.3 3634.3 -- 12 Fed. Funds and security repos -- -- 11.8 ------146.8 -- 158.6 -- 3881.5 3206.0 1023.3 1150.1 5063.5 4356.1 -707.4

13 Debt securities 5547.8 213.1 412.3 6559.5 0.5 19039.9 1438.5 3068.2 7399.0 28880.7 28879.4 14715.9 12112.3 3789.5 48390.7 47386.0 -1004.7 14 Open market paper -- -- 246.0 195.3 -- -- 69.7 -- 315.7 195.3 599.5 397.1 130.1 452.8 1045.2 1045.2 -- 15 Treasury securities 1896.0 -- 124.8 -- -- 19018.7 711.5 -- 2732.2 19018.7 9864.7 -- 6695.3 -- 19292.2 19018.7 -273.6 16 Agency- and GSE-backed sec. 754.9 -- 15.1 -- 0.0 21.2 456.6 -- 1226.6 21.2 7221.9 9409.5 1180.5 -- 9629.0 9430.7 -198.3 17 Municipal securities 1893.5 213.1 26.3 577.0 -- -- 15.0 3068.2 1934.8 3858.3 2108.9 -- 105.3 -- 4149.0 3858.3 -290.7 18 Corporate and fgn. bonds 1003.4 -- -- 5787.2 0.5 -- 185.8 -- 1189.7 5787.2 9084.5 4909.2 4001.1 3336.7 14275.2 14033.1 -242.1

19 Loans 890.8 15909.0 128.9 9498.2 1662.9 15.8 230.3 21.1 2913.0 25444.1 24341.3 1955.2 829.8 684.9 28084.2 28084.2 -- 20 Depository inst. loans n.e.c. -- 346.3 -- 2531.3 ------2877.6 3818.3 309.0 -- 631.7 3818.3 3818.3 -- 21 Other loans and advances 805.9 492.4 -- 2077.8 219.7 15.8 -- 21.1 1025.7 2607.1 2226.4 1421.5 829.8 53.2 4081.9 4081.9 -- 22 Mortgages 57.1 10889.4 89.3 4889.0 123.8 0.0 230.3 -- 500.5 15778.4 15502.6 224.7 -- -- 16003.1 16003.1 -- 23 Consumer credit 27.8 4180.9 39.6 -- 1319.4 ------1386.8 4180.9 2794.0 ------4180.9 4180.9 --

24 Corporate equities 20607.7 -- 2290.8 33623.0 33.2 -- 173.2 -- 23104.8 33623.0 23272.4 11487.1 8246.5 9513.5 54623.7 54623.7 -- 25 Mutual fund shares 9798.7 -- 327.3 ------91.5 -- 10217.5 -- 6548.7 17659.5 893.4 -- 17659.5 17659.5 -- 26 Trade credit 259.5 390.9 4511.9 3515.4 73.9 382.2 246.1 1052.1 5091.4 5340.5 333.5 295.5 349.9 80.5 5774.9 5716.5 -58.4

27 Life insurance reserves 1731.3 ------52.2 -- -- 1731.3 52.2 500.9 2122.4 10.7 68.3 2242.9 2242.9 -- 28 Pension entitlements 27870.6 ------27870.6 -- 199.5 28005.3 16.0 80.8 28086.1 28086.1 -- 29 Taxes payable ------401.3 358.1 -- 168.9 -- 527.0 401.3 -- 172.6 -- -- 527.0 573.9 46.9 30 Equity in noncorp. business 12343.1 -- -- 12259.7 ------12343.1 12259.7 -- 83.5 -- -- 12343.1 12343.1 -- 31 U.S. direct investment abroad -- -- 6539.1 ------6539.1 -- 1182.6 -- -- 7721.7 7721.7 7721.7 -- 32 Foreign direct investment in U.S. ------8016.1 ------8016.1 -- 1449.8 9465.8 -- 9465.8 9465.8 -- 33 Miscellaneous 1286.7 36.5 9123.2 10664.3 219.0 1901.1 79.0 4127.6 10707.9 16729.5 15695.6 8326.5 61.3 279.3 26464.8 25335.4 -1129.4

ALALALALALALALAL (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14) (15) (16) (17)

1 Total financial assets 154090005 -- 144090005 -- 314090005 -- 214090005 -- 384090005 -- 794090005 -- 264090005 -- 894090005 -- 907005015 2 Total liabilities and equity -- 154190005 -- 144194005 -- 314190005 -- 214190005 -- 384194005 -- 794194005 -- 264194005 -- 894194005 -- 3 Total liabilities -- 154190005 -- 144190005 -- 314190005 -- 214190005 -- 384190005 -- 794190005 -- 264190005 -- 894190005 --

4 U.S. official reserve assets ------313011005 313111303 -- -- 313011005 313111303 713011005 -- 263011005 263111005 893011005 893111005 903011005 5 SDR certificates ------713014003 ------713014003 713014003 ------713014003 713014003 -- 6 Treasury currency ------313112003 ------313112003 713012003 ------713012003 313112003 903012005 7 Foreign deposits 153091003 -- 103091003 ------383091005 -- 633091003 -- -- 263191005 893091005 263191005 903091005 8 Interbank claims ------794010005 794110005 264016005 -- 894010005 794110005 904010005

9 Checkable dep. and currency 153020005 -- 143020005 -- 313020005 -- 213020005 -- 383020005 -- 793020005 793120005 263020005 -- 893020005 793120005 903020005 10 Time and savings deposits 153030005 -- 143030005 -- 313030003 -- 213030000 -- 383030005 -- 793030005 703130005 263030005 -- 703130005 703130005 -- 11 Money market fund shares 153034005 -- 143034005 ------213034003 -- 383034005 -- 793034005 634090005 263034003 -- 634090005 634090005 -- 12 Fed. Funds and security repos -- -- 102051003 ------212051003 -- 382051005 -- 792050005 792150005 262051005 262151003 892050005 892150005 902050005

13 Debt securities 154022005 163162003 144022005 104122005 314022005 314122005 214022005 213162005 384022005 384122005 794022005 794122005 264022005 264122005 894022005 894122005 904022005 14 Open market paper -- -- 103069100 103169100 -- -- 213069103 -- 383069105 103169100 793069175 793169175 263069103 263169105 893169175 893169175 -- 15 Treasury securities 153061105 -- 143061105 -- -- 313161105 213061105 -- 383061105 313161105 793061105 -- 263061105 -- 893061105 313161105 903061103 16 Agency- and GSE-backed sec. 153061705 -- 103061703 -- 313061703 313161705 213061703 -- 383061705 313161705 793061705 423161705 263061705 -- 893061705 893161705 903061703 17 Municipal securities 153062005 163162003 143062005 103162000 -- -- 213062003 213162005 383062005 383162005 793062005 -- 263062003 -- 893062005 383162005 903062003 18 Corporate and fgn. bonds 153063005 -- -- 103163003 313063763 -- 213063003 -- 383063005 103163003 793063005 793163005 263063005 263163005 893063005 893163005 903063003

19 Loans 154023005 154123005 144023005 144123005 314023005 314123005 213065005 213169203 384023005 384123005 794023005 794123005 263069500 264123005 894123005 894123005 -- 20 Depository inst. loans n.e.c. -- 153168005 -- 143168005 ------383168005 793068005 793168005 -- 263168005 793068005 793068005 -- 21 Other loans and advances 153069005 153169005 -- 143169005 313069005 313169003 -- 213169203 383069005 383169005 793069005 793169005 263069500 263169005 893169005 893169005 -- 22 Mortgages 153065005 153165005 143065005 143165005 313065005 313165403 213065005 -- 383065005 383165005 793065005 123165005 -- -- 893065005 893065005 -- 23 Consumer credit 163066223 153166000 143066005 -- 313066220 ------383066005 153166000 793066005 ------153166000 153166000 --

24 Corporate equities 153064105 -- 103064103 103164103 313064105 -- 213064103 -- 383064105 103164103 793064105 793164105 263064105 263164100 893064105 893064105 -- 25 Mutual fund shares 153064205 -- 103064203 ------213064203 -- 383064205 -- 793064205 653164205 263064203 -- 653164205 653164205 -- 26 Trade credit 163070005 163170005 143070005 143170005 313070000 313170005 213070003 213170003 383070005 383170005 793070005 793170005 263070005 263170005 893070005 893170005 903070005

27 Life insurance reserves 153040005 ------313140003 -- -- 153040005 313140003 793040005 543140005 543141905 263140005 893140005 893140005 -- 28 Pension entitlements 153050005 ------153050005 -- 543050005 583150005 543151905 263150005 893150005 893150005 -- 29 Taxes payable ------143178005 313078000 -- 213078005 -- 383078005 143178005 -- 793178005 -- -- 893078005 893178005 903078005 30 Equity in noncorp. business 152090205 -- -- 112090205 ------152090205 112090205 -- 662090003 -- -- 152090205 152090205 -- 31 U.S. direct investment abroad -- -- 103092005 ------103092005 -- 793092005 -- -- 263192005 263192005 263192005 -- 32 Foreign direct investment in U.S. ------143192005 ------143192005 -- 793192005 263092001 -- 263092001 263092001 -- 33 Miscellaneous 153090005 543077073 143090005 143190005 313090005 313190005 213093003 223073045 383090005 383190005 793090005 793190005 263076005 263190005 893090005 893190005 903090005

General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is the sum of corporate equities (line 24) and equity in noncorporate business (line 30). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a financial asset without a corresponding liability. F34005F14005F13615F13600F14005F14005F34005F24005F74005FG264104005 FG794104005 FG214104005 FG314104005 FG104104005 FG144104005 FG153166000 FG153165105 FG154104005 FG384104005 00 - 11.438 .115 88 42 43 .02.72.36 10.16 10.32 9.36 -1.45 23.17 1.25 -1.70 3.00 5.91 2.74 4.13 2.08 0.10 9.35 4.55 2.88 0.64 16.67 1.84 -2.52 2.18 11.78 -1.26 7.56 14.35 1.68 9.45 3.77 -1.44 0.31 10.43 -1.44 2.08 8.52 2.95 9.80 -0.37 -1.54 24.27 2.47 1.64 -3.17 2.67 -0.09 3.66 -4.23 5.82 4.00 5.95 4.31 -0.44 -0.65 5.66 8.50 18.80 3.56 -0.60 -0.85 14.29 -4.19 3.53 1.98 -2.47 3.62 5.38 1.89 5.68 5.04 1.79 4.91 7.56 4.32 0.16 6.00 1.57 1.10 6.84 1.92 0.69 4.45 4.38 3.63 1.44 2.23 2.60 4.13 12.14 1.08 1.17 1.34 4.76 4.86 0.48 2.54 0.97 4.32 2.28 4.36 1.87 4.56 3.21 3.31 4.61 -1.30 5.61 2.16 4.92 3.89 0.47 8.63 2.11 6.14 4.17 2.38 0.35 9.48 3.04 8.18 5.17 3.16 2.02 4.86 1.23 5.48 0.34 3.50 8.42 -1.24 6.13 3.86 4.19 8.44 2.27 4.84 -1.60 6.47 3.88 2.04 7.19 1.91 0.00 1.52 6.00 3.40 6.12 1.38 1.11 9.07 2.41 3.42 9.52 3.14 6.70 0.38 3.04 6.67 4.32 2.16 -0.63 3.62 11.74 3.30 6.56 2.12 7.58 14.53 5.93 5.18 -10.40 1. Debtsecuritiesandloans. Datashownareonanend-of-periodbasis. 2.53 5.04 -2.57 -1.19 3.74 4.03 5.34 3.18 15.44 9.80 -1.66 5.56 8.71 2.83 6.36 -4.07 2020 --Q1 8.53 3.22 7.81 5.02 3.42 21.42 4.71 3.14 0.07 6.02 2.83 -9.62 3.54 4.58 6.19 5.96 2.97 6.70 3.19 Q4 -1.17 3.06 5.37 5.26 4.13 7.98 6.68 13.66 3.52 Q3 6.67 8.30 3.58 7.09 3.43 2.74 1.71 Q2 7.51 7.28 5.25 10.35 9.01 7.69 4.25 4.79 2019 --Q1 10.12 2.49 4.71 2.61 -1.26 3.96 1.43 6.41 4.18 2.63 10.82 4.35 7.36 6.69 6.36 6.86 6.22 6.02 9.45 2.47 Q4 3.74 5.54 7.89 5.30 1.31 Q3 18.53 11.16 4.41 2.77 8.63 6.64 3.88 6.66 5.37 6.93 Q2 4.57 2.59 11.05 20.41 4.57 4.93 2018 --Q1 21.44 1.95 5.26 10.36 4.76 4.16 4.63 11.71 6.53 1.47 4.66 5.31 11.61 3.75 14.19 3.59 4.47 -0.90 2.02 Q4 8.32 6.79 2.26 3.92 16.71 11.09 15.90 0.45 Q3 6.61 5.05 7.10 8.80 -4.84 2.86 2.06 3.99 Q2 12.07 19.54 3.11 2.62 2.85 4.92 1.43 -2.99 2017 --Q1 8.31 15.67 7.15 0.76 13.03 11.74 3.22 4.53 -0.76 4.50 6.10 3.82 9.50 2.24 6.01 3.26 6.81 11.86 7.75 Q4 1.76 5.40 -3.89 5.76 1.47 2.74 1.35 5.06 3.36 4.95 Q3 6.20 5.72 5.44 13.52 4.14 3.25 -6.30 Q2 11.32 -1.96 12.57 3.46 0.21 2.43 4.04 2016 --Q1 -1.10 8.11 -0.28 0.06 5.58 -5.49 -0.21 3.23 -0.68 0.10 10.08 -3.58 3.75 0.36 8.10 -0.74 2.37 6.78 3.01 Q4 8.58 4.74 1.46 -0.26 1.31 3.52 -3.95 5.29 7.96 Q3 -0.68 4.67 6.11 4.60 5.93 2.14 Q2 -1.50 4.23 10.14 1.53 4.38 0.91 1.67 2015 --Q1 9.38 5.18 4.45 2.29 0.87 3.18 1.04 12.88 4.52 4.37 9.23 4.62 5.00 11.08 8.59 5.11 0.74 15.63 1.74 -0.01 8.40 8.88 7.20 5.23 2019 5.57 -0.58 4.13 5.31 10.92 2018 6.62 5.30 3.75 3.84 10.31 11.19 18.24 11.46 5.56 5.98 0.45 2017 24.93 4.76 11.69 13.76 11.18 8.65 10.99 12.03 24.34 8.48 12.47 2016 7.10 -0.03 3.63 21.08 5.23 11.36 7.14 5.44 2015 4.36 13.44 7.63 0.60 7.80 10.55 13.42 5.89 14.49 17.69 13.05 10.94 13.26 2014 8.61 3.69 7.22 10.82 -2.10 5.38 8.68 17.21 15.26 10.55 2013 5.75 5.52 31.85 5.40 8.65 3.06 2012 8.17 9.05 11.56 7.30 2011 8.54 -0.31 11.21 12.33 11.39 11.44 9.35 14.39 13.93 9.73 2010 8.79 10.99 -2.13 8.08 8.02 6.90 8.60 3.63 8.81 17.75 6.11 15.23 8.82 2009 9.17 7.44 6.18 2008 19.10 7.76 16.84 1.13 6.27 18.48 4.86 13.81 9.36 2007 6.69 9.96 -1.07 8.09 11.76 2006 12.64 11.89 5.69 1.87 7.76 5.56 6.55 2005 4.74 5.51 7.05 9.17 16.61 8.36 6.49 11.41 6.30 6.93 2004 6.66 7.01 6.67 13.59 10.98 8.16 2003 6.76 8.85 4.85 7.49 2002 5.55 6.07 16.07 2001 5.21 9.23 9.14 9.17 5.19 10.94 2000 4.88 12.87 5.64 15.95 11.79 9.88 6.81 13.44 1999 5.18 18.37 1998 5.76 4.98 13.75 9.37 12.14 1997 4.67 5.54 14.61 9.78 1996 4.74 0.97 9.68 1995 6.56 11.43 11.36 10.20 4.75 1994 7.49 16.75 7.23 1993 9.20 10.91 1992 8.98 12.62 1991 11.96 11.37 1990 5.62 16.09 7.16 8.77 1989 14.75 1988 12.13 1987 10.17 1986 10.23 1985 9.62 1984 1983 1982 1981 1980 In percent;quarterlyfiguresareseasonallyadjustedannualrates D.1 DebtGrowthbySector oa oa e.mrggscei oa oprt oenetgvrmnsscosworld sectors governments government Corporate Total credit res.mortgages Total Total Households 1 n-ofu-aiyConsumer One-to-four-family Domestic nonfinancialsectors Business eea oa iaca ofthe financial local Federal tt n oetcRest Domestic Stateand Z.1, June11,2020 5

Summary Summary F34005F14005F13615F13600F14005F14005F34005F24005F74005FA264104005 FA794104005 FA214104005 FA314104005 FA104104005 FA144104005 FA153166000 FA153165105 FA154104005 FA384104005 00 - 167. 2. 4. 5831. 41123. . 821105.7 441.8 435.7 377.6 3862.1 208.2 -57.4 -67.5 494.5 3.2 448.5 232.3 163.2 138.9 338.6 363.4 466.0 19.4 614.9 -77.3 296.2 349.7 2734.1 418.7 712.1 -38.9 260.1 267.9 -44.6 312.7 1918.6 49.4 381.5 285.9 2401.1 -44.6 -11.5 467.1 -8.5 1750.7 -51.5 390.0 -99.0 53.8 567.6 418.1 647.8 3019.6 416.0 -68.4 124.0 1037.5 974.2 -136.4 -20.2 803.1 555.0 317.1 -26.5 2372.8 -19.4 544.5 894.5 -77.3 177.3 -137.8 65.8 672.9 456.3 165.5 295.3 5.0 119.5 98.3 819.8 977.7 1048.4 171.1 21.6 321.6 299.4 705.5 295.4 198.7 69.2 219.8 720.6 416.1 401.6 172.9 340.0 176.5 646.8 73.3 221.5 37.9 165.3 41.3 184.2 480.8 297.4 393.1 32.0 250.7 559.4 372.5 419.6 882.2 -40.5 330.6 14.6 204.2 349.4 331.1 950.5 345.0 256.3 621.8 363.3 212.8 687.3 268.0 10.9 62.2 462.7 234.7 161.4 1240.6 -103.8 854.3 207.8 188.5 544.3 148.0 10.6 887.6 402.1 1253.3 542.6 247.4 807.5 161.6 0.0 126.0 -49.9 301.8 287.3 6378.7 678.5 309.9 251.4 204.8 187.3 34.3 733.4 288.8 331.6 890.4 452.8 333.9 134.5 (1) Debtsecuritiesandloans. -94.3 11.8 1712.4 254.8 190.0 -203.7 781.7 523.2 1190.7 3375.2 439.4 226.9 193.3 -398.9 525.8 2020 --Q1 396.7 1258.1 -37.1 1655.6 525.5 598.6 321.4 -52.8 -673.2 1113.0 214.8 3091.9 753.6 642.3 539.6 842.7 280.3 251.6 Q4 2.4 791.1 462.7 444.6 724.6 313.8 234.9 780.2 Q3 283.8 -37.4 1763.2 263.4 -1732.1 343.9 98.8 230.4 655.1 Q2 735.9 85.5 2165.2 345.9 785.0 240.4 857.3 2019 --Q1 241.5 1012.0 91.3 871.6 1983.1 289.4 387.8 2064.6 62.3 16.2 42.0 3295.9 733.3 579.0 639.7 253.9 140.5 222.4 1180.6 Q4 1420.3 1138.7 -10.5 601.9 544.5 236.9 233.9 57.2 Q3 1139.2 449.9 809.2 1891.6 125.9 372.2 1645.9 263.9 Q2 172.2 375.3 220.0 677.3 2199.6 1090.8 2018 --Q1 836.5 1175.0 182.6 22.3 342.5 829.7 2206.3 116.9 597.1 1505.8 1302.5 185.0 318.8 71.4 37.6 181.6 1690.8 958.9 165.4 532.9 139.5 Q4 734.0 -55.8 909.5 192.3 320.3 481.9 190.5 85.5 Q3 270.4 966.5 182.0 42.3 230.1 120.5 144.6 Q2 75.3 -318.3 252.3 294.8 518.4 235.0 219.1 2282.7 439.1 1112.3 262.3 2017 --Q1 601.8 286.5 1088.0 105.5 346.9 2078.2 107.1 221.0 16.9 314.9 -14.5 62.0 -76.9 16.9 2715.2 177.7 534.6 663.5 Q4 402.8 214.5 574.6 245.6 420.7 -415.2 282.1 10.1 Q3 577.9 524.3 37.3 158.8 139.3 467.4 406.3 2432.0 109.6 66.8 Q2 50.8 491.8 55.2 17.9 268.6 1078.6 20.0 2016 --Q1 589.3 468.5 -28.2 6.0 2447.9 -275.0 351.8 231.8 1126.8 165.8 456.4 -1.0 -20.5 -94.6 1632.3 -10.1 4.8 1.1 34.3 Q4 2458.8 -72.2 331.6 181.5 -60.8 820.7 -30.1 -67.9 Q3 2301.9 -11.4 610.4 10.6 63.4 139.9 211.3 9.2 Q2 1997.1 343.1 294.1 -45.5 150.2 -156.5 57.9 16.5 420.6 2015 --Q1 2010.7 226.6 191.1 92.5 63.8 224.1 5.0 1897.7 91.2 140.8 120.1 174.2 79.1 156.6 366.8 -1.3 252.3 390.2 100.4 30.4 303.4 47.1 263.1 40.6 278.8 10.3 -81.4 2019 535.5 1727.0 193.5 715.5 333.6 117.2 293.2 343.8 2018 1513.0 161.8 19.4 42.8 47.4 63.5 105.9 2017 1842.2 1000.4 191.1 105.2 316.6 232.8 560.6 50.4 -4.2 2016 569.2 1362.3 1081.2 150.6 90.4 164.7 380.7 280.2 176.5 97.1 2015 1573.1 191.0 951.3 107.5 74.2 929.4 133.2 15.2 232.2 82.1 1269.7 874.1 106.7 180.9 2014 1294.7 236.5 706.2 -54.2 163.6 112.4 1174.9 187.9 97.1 2013 1918.3 508.2 52.5 70.3 132.0 383.5 174.2 2012 205.5 2520.8 47.3 41.7 1122.5 112.6 245.5 105.7 2011 2426.5 -11.3 1063.7 27.6 165.3 22.2 147.0 2010 2297.6 765.2 265.6 379.4 -80.4 225.5 622.5 303.2 132.3 585.8 164.3 215.7 216.1 135.0 2009 2128.0 199.8 61.4 173.4 226.4 205.2 2008 1668.8 9.2 213.7 154.0 95.5 2007 1348.4 184.3 568.8 86.3 -8.8 309.6 2006 1086.6 454.9 15.1 863.2 222.3 207.1 345.5 166.8 2005 94.5 95.3 293.6 346.7 156.5 47.0 318.7 173.0 2004 254.7 1136.6 125.0 69.5 46.6 174.5 2003 1079.5 32.3 320.8 840.4 320.6 200.0 2002 55.8 749.5 165.8 244.8 153.1 2001 668.5 199.1 224.9 84.0 2000 189.7 204.5 132.7 215.6 81.7 674.0 229.3 221.6 1999 48.2 708.5 18.8 199.4 1998 548.1 288.9 1997 19.8 181.7 531.9 3.4 273.9 1996 688.9 250.8 127.6 1995 264.6 105.2 47.4 730.9 1994 331.4 67.0 821.8 1993 90.2 737.8 222.0 1992 877.9 181.7 1991 85.8 1990 1015.2 101.6 811.0 113.7 1989 594.6 1988 454.0 1987 414.4 1986 354.9 1985 1984 1983 1982 1981 1980 Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates D.2 BorrowingbySector 6

Z.1, June11,2020 oa oa e.mrggscei oa oprt oenetgvrmnsscosworld sectors governments government Corporate Total credit res.mortgages Total Total Households 1 n-ofu-aiyConsumer One-to-four-family Domestic nonfinancialsectors Business eea oa iaca ofthe financial local Federal tt n oetcRest Domestic Stateand

L34005L14005L13615L13600L14005L14005L34005L24005L74005LA264104005 LA794104005 LA214104005 LA314104005 LA104104005 LA144104005 LA153166000 LA153165105 LA154104005 LA384104005 00 - 159141296162540. 61. 09. 93. 00116474305.1 4474.4 4348.9 17634.7 4222.4 4033.3 16671.1 16621.5 3090.1 3960.0 16500.2 3979.1 16387.5 3089.3 3928.2 3054.6 3954.1 19739.3 16309.3 3049.7 3069.0 16195.7 3885.5 19055.7 16124.9 3687.8 18877.7 16044.5 10492.2 3078.8 3553.1 18398.1 3440.8 3089.9 18302.7 9891.9 15979.5 3101.1 15970.4 9894.1 3103.9 16812.4 3307.7 17865.0 15857.3 9752.2 3356.5 15763.8 9648.2 17703.1 3128.7 16057.7 3351.7 17443.7 3097.7 3286.8 4202.0 15978.5 17200.1 15684.8 9443.6 3102.7 15755.1 3109.4 15706.1 9399.3 15587.1 3227.7 4180.9 16606.9 15572.8 9285.2 3225.3 16533.1 4138.1 15444.1 8934.1 10682.5 3128.7 15321.4 3286.4 16288.7 4088.4 3127.5 3304.1 16112.3 4044.3 15141.5 15244.9 8853.7 10600.1 3122.0 4474.4 14980.0 8725.3 3104.8 15360.1 16279.6 10541.0 14533.6 3960.0 16008.3 3998.3 8627.1 15311.7 10461.8 3885.5 8522.2 15933.9 3947.2 15277.5 10374.7 3307.7 3094.4 16122.0 14393.9 15713.4 3886.4 16671.1 3227.7 3104.5 55921.4 14149.4 15989.5 15475.8 3850.0 8370.0 16309.3 10320.1 3100.9 13936.2 15857.3 (1) Debtsecuritiesandloans. Dataareshownonanend-of-periodbasis. 8400.5 15979.5 3098.2 13714.6 15691.4 10263.0 3281.4 54324.7 15684.8 15165.6 3813.0 8300.0 3089.3 10191.0 2970.6 3750.2 53900.3 8268.5 15244.9 14852.3 2020 --Q1 10112.5 3078.8 2825.3 13448.3 15612.7 3716.6 53060.2 14776.9 3128.7 2467.6 3669.1 52650.2 13381.0 15507.5 14554.2 15286.9 Q4 3128.7 8085.2 10052.4 2246.4 13185.9 15374.0 19055.7 15019.2 Q3 3094.4 7976.3 9977.6 13054.9 15248.1 3620.8 51877.8 17865.0 14870.3 Q2 7877.1 9913.7 1968.1 3567.1 51441.9 16606.9 7688.7 15042.0 9842.9 2019 --Q1 3082.6 1561.4 16008.3 12777.1 15136.0 3508.3 50898.8 15519.7 9891.9 3119.7 1959.1 3450.7 15165.6 50085.8 12606.5 14945.3 1629.7 9443.6 Q4 3172.5 9763.7 12443.2 14854.5 1325.2 16551.6 8853.7 Q3 3170.1 9709.2 12190.8 14702.2 14441.1 8370.0 3390.6 49265.6 18001.4 Q2 3207.5 9653.3 16057.7 13705.1 8085.2 3470.4 48725.5 1265.1 17291.1 9601.8 2018 --Q1 15115.9 1144.2 15321.4 12847.8 14572.8 3411.9 48182.1 944.5 3122.1 13727.9 829.5 14393.9 3345.9 11667.3 47638.5 14484.9 7528.1 Q4 2981.6 13448.3 9579.4 837.1 10528.6 4180.9 14343.2 7077.7 Q3 2939.5 12777.1 9509.2 12643.2 2767.3 14217.7 3998.3 6717.0 47158.1 11537.5 Q2 9483.9 2650.4 776.7 8882.6 3813.0 6382.6 46927.3 10527.3 9447.9 2017 --Q1 11973.7 3620.8 9690.8 806.0 7376.8 14146.7 6063.8 46364.5 10600.1 11241.8 3390.6 2485.0 8675.9 763.6 6074.3 45853.1 14135.1 5803.9 1568.4 10320.1 Q4 10775.8 689.1 14117.8 5584.8 1447.9 6167.9 10052.4 Q3 10270.0 3311.9 7765.4 602.5 13995.8 9763.7 45183.9 1303.4 6570.5 Q2 10015.1 16122.0 3090.9 6655.4 9579.4 44698.4 5250.9 1197.9 6323.2 2016 --Q1 15612.7 2913.2 5653.2 4848.0 5567.4 473.4 44438.8 484.8 15136.0 2756.4 5245.8 4427.3 4985.7 10153.5 43839.0 9454.4 1181.0 395.5 Q4 14572.8 2646.8 54324.7 4145.2 4411.1 10664.6 9479.7 1143.8 Q3 375.5 14146.7 51877.8 4977.2 4090.0 10098.4 368.7 9562.3 8966.6 4787.3 1076.9 Q2 49265.6 3940.8 2555.0 9776.2 8143.9 4783.3 1026.2 3464.3 2015 --Q1 13972.5 47158.1 4365.0 2643.8 354.8 9992.0 4778.5 1046.7 3107.2 13723.6 45183.9 351.9 4395.1 2609.5 7533.4 4655.6 2859.8 13585.6 2456.7 310.4 7088.8 4406.5 2678.3 1107.5 10441.1 2019 13585.4 2320.6 43469.9 300.2 7010.9 4343.1 1153.0 4312.4 2018 10577.3 13734.7 41790.3 290.1 6854.3 4152.0 1095.1 2463.8 3911.2 2017 10625.0 2211.2 2220.1 40381.7 6567.8 1078.6 9940.3 2102.9 3521.1 987.4 2016 13950.1 1958.8 38692.8 287.3 3977.8 8940.4 1997.0 265.0 3244.4 3784.3 2015 1683.4 14109.4 37485.9 6032.3 1891.8 267.2 3095.0 3491.1 222.5 940.4 1338.2 14240.3 5437.3 175.8 893.0 7859.1 1741.3 3147.4 2014 13317.2 36108.3 6914.9 4868.1 842.6 2888.0 2830.8 2013 1104.5 12031.9 35132.4 6031.1 4489.4 2690.7 752.1 931.1 1553.6 2012 33352.6 5324.9 4269.6 2545.0 677.9 823.4 1441.3 723.6 2550.5 2011 10857.0 30855.1 4816.8 2526.6 620.2 2369.6 9709.3 1344.2 2010 28410.9 4017.3 2585.4 2181.7 513.6 8627.4 1273.9 3805.5 4434.5 2007.5 461.1 7862.2 1168.2 3680.5 2009 26126.4 4057.4 2455.2 1762.0 413.8 7239.7 372.1 3688.6 2265.2 2008 23214.6 3754.2 344.4 1021.2 3775.9 2051.5 2007 21513.5 3538.1 886.2 1496.5 6644.0 1864.5 2006 20165.1 3319.9 824.8 1280.8 6077.6 3645.4 1638.9 2005 19095.4 815.6 3407.1 1081.0 907.7 5622.7 812.2 3165.9 824.4 3109.8 5277.2 1458.0 2004 18222.3 2999.2 2864.7 4917.7 1247.2 2003 17053.7 2840.4 809.3 2572.0 745.2 1129.9 2002 15974.2 2667.4 1038.7 4599.0 698.6 2001 919.6 15135.9 2489.3 2320.6 4278.4 666.4 2000 14386.1 1996.2 4031.2 610.6 2260.1 1807.6 3832.1 2054.8 1658.5 1999 13701.7 3624.0 1828.6 526.6 1474.7 1998 13021.3 1649.0 444.9 1997 12298.0 3365.6 1450.2 396.7 1996 11746.7 3084.2 377.9 1995 11218.1 2802.0 358.0 1243.3 2592.3 1116.4 1994 10501.9 2329.8 9753.9 1031.2 1993 998.3 8936.1 1992 1977.7 926.5 8216.7 1991 1759.6 7341.7 1990 1597.9 1526.6 6308.4 1989 1420.2 5497.7 1988 4900.3 1987 4464.7 1986 4051.5 1985 1984 1983 1982 1981 1980 Billions ofdollars;quarterlyfiguresareseasonallyadjusted D.3 DebtOutstandingbySector oa oa e.mrggscei oa oprt oenetgvrmnsscosworld sectors governments government Corporate Total credit res.mortgages Total Total Households n-ofu-aiyConsumer One-to-four-family 1 Domestic nonfinancialsectors Business eea oa iaca ofthe financial local Federal tt n oetcRest Domestic Stateand Z.1, June11,2020 7

Summary Summary 6 P12905 ecn hnei oshl e ot .392 .91.851 .809 .1-.836 -5.58 2.71 33 -9.43 0.96 35 3.38 -6548.1 1.78 3096.0 0.63 1088.3 32 5.15 -9913.2 1.97 1977.5 3435.6 10.98 5446.1 638.4 34 5.54 11607.9 110787.2 0.89 117335.4 934.0 114239.3 1952.6 31 113151.0 11.97 111173.5 95168.9 117335.4 5203.4 9.26 8881.2 105727.4 105082.0 104793.4 101646.4 -1.61 95912.2 11230.0 101008.0 5283.4 99055.4 -1539.9 5.83 105082.0 30 11.77 93852.0 10044.4 25239.8 95391.9 4985.2 26645.7 6.20 29 85347.5 23 25944.5 6750.0 149.4 27 25564.6 8246.5 13335.6 24916.4 28 147.5 14797.9 26645.7 7633.5 31989.7 14248.5 26 23395.1 34892.2 7667.3 145.6 7358.3 14061.5 23482.5 33578.0 13626.5 20943.2 7234.7 9513.5 33231.9 143.3 14797.9 36PC152090005Percentchangeinhouseholdnetworth 32151.1 8246.5 12727.7 8770.2 35FC152090005Changeinhouseholdnetworth 34892.2 141.8 13904.5 6510.6 8936.5 29905.7 34FL152090005B.Householdnetworth(5) 11619.0 25 30502.0 19 7019.4 147.5 8720.6 20693.9 26725.8 1119.2 24311.5 33PC892090005PercentchangeinU.S.netwealth 5782.7 9513.5 139.7 23018.7 1112.9 32FC892090005ChangeinU.S.netwealth 7996.5 22998.0 1104.8 31FL892090005A.U.S.netwealth(line1) 132.3 22347.0 9118.1 24 24311.5 1095.2 -11295.8 7146.3 126.5 20724.2 Memo: -10580.7 1091.7 23022.6 -10559.3 15 -10233.9 18765.3 1112.9 8614.2 -9804.0 30FL264090035Otherforeignfinancialclaims 16 1080.0 -10580.7 10 29LM263064105ForeignholdingsofU.S.corporateequities 11487.1 -9181.5 3604.4 299.0 10700.0 28FL264090005Less:ForeignfinancialclaimsonU.S. 1055.9 20 -7479.3 12 14 10621.4 3588.1 12100.9 84.8 -7960.5 1020.8 26587.6 296.1 10131.8 12015.2 3566.1 27FL264190005OtherU.S.financialclaims 33623.0 11487.1 11957.0 31393.2 293.9 26LM263164100U.S.holdingsofforeigncorporateequities 9252.7 83.5 3546.0 11847.9 31302.9 25FL264194005U.S.financialclaimsontherestofworld 11632.3 10035.6 3531.9 30511.8 291.1 12015.2 8354.8 80.6 33623.0 3588.1 6 11553.9 24FL882090265NetU.S.financialclaimsontherestofworld 13 26666.3 287.4 10957.4 5794.8 3503.8 35201.8 28902.1 78.4 10505.7 45110.1 24702.4 296.1 23LM215013765Intellectualpropertyproducts 5752.5 3405.6 42093.2 5 22LM215013265Equipment 5717.2 3315.4 78.4 41924.4 285.0 217.6 21LM215015605Structures 40643.6 5649.2 20LM212010095Stateandlocalgovernmentsnonfinancialassets(4) 45110.1 273.0 83.5 213.8 5591.7 35919.0 38937.7 259.1 19LM315013765Intellectualpropertyproducts 5752.5 210.2 33057.2 78.2 18LM315013265Equipment 5519.3 206.2 17LM315015605Structures 5302.6 68.7 16LM315015005Federalgovernmentnonfinancialassets(4) 202.1 5155.3 7 67.7 15LM793164105Financialcorporateequity 213.8 15046.8 14LM103164103Nonfinancialcorporateequity 14923.5 198.7 13LM883164105Marketvalueofdomesticcorporations(3) 14864.7 14631.9 189.4 14327.0 12LM662090003Fin.noncorporatebusinessesnonfinancialassets(2) 2 14923.5 178.1 14116.0 40426.1 11LM115020005Inventories 13552.7 39942.3 12699.5 10LM115013765Intellectualpropertyproducts 39644.1 9LM115015205Equipment 39213.4 38646.1 8LM115035005Realestate 39942.3 7LM112010005Nonfin.noncorporatebusinessesnonfinancialassets 37862.6 35949.1 6LM155111005Consumerdurablegoods 33662.4 5LM165013765Intellectualpropertyproducts(nonprofits) 4LM165015205Equipment(nonprofits) 3LM155035005Realestate 2LM152010005Households’directholdingsofnonfinancialassets 1FL892090005U.S.netwealth(1) Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted B.1 DerivationofU.S.NetWealth 8 (5) Householdnetworthiscalculatedasthedifferencebetweentotalassetsandliabilitiesofhousehold andnonprofitorganizationssector.SeetableB.101. (4) Excludeslandandnonproducednonfinancialassets. becauseofdifferencesinthevaluationassets. (3) ThismeasuredoesnotequalthenetworthofnonfinancialcorporatebusinessandfinancialsectorsreportedinIntegratedMacroeconomicAccounts(tablesS.2.aS.2.q) (2) Assumedtobeequalproprietors’equityinnoncorporatebrokersanddealers. marketvalueofdomesticnonfinancialandfinancialcorporations,netU.S.obligationstotherestworld(sumlines2+7+12+13+16+20+24). (1) U.S.netwealthmeasuresthevalueoftangibleassetscontrolledbyhouseholdandnonprofitorganizations,noncorporatebusiness,governmentsectorseconomy

Z.1, June11,2020 03. 07. 15. 10. 12. 13. 14. 10. 18. 21 11684.8 11601.5 11544.9 11438.9 11224.6 11601.5 11150.1 10570.0 10130.0 8 13182.0 13209.5 13195.9 13164.9 12873.4 13209.5 3 12673.0 12231.7 33950.3 11424.0 33517.0 33262.6 32907.8 32408.3 1 33517.0 95168.9 31707.5 105082.0 30044.4 101646.4 101008.0 27933.3 99055.4 105082.0 93852.0 95391.9 85347.5 0621 0821 2019 2019 2018 2017 2016 58118. 68416. 69614. 67116. 66717 1666.7 1661.3 1657.1 1649.7 1639.6 1661.3 1628.4 1582.1 1538.1 4. 5. 6. 6. 6. 6. 6. 6. 6. 22 266.7 266.2 266.5 18 265.7 818.5 265.9 813.9 266.2 804.3 264.2 801.0 255.0 800.6 249.1 813.9 11 795.4 250.7 9 767.6 250.2 955.1 756.5 247.9 939.6 258.3 925.2 262.6 4 912.2 463.5 250.2 894.8 459.1 261.2 939.6 454.1 260.0 875.9 450.1 249.8 834.0 444.0 809.0 459.1 437.1 412.6 395.7 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

8 F25203 tt n oa oenet 331. 451. 531. 521. 3938 36 13.9 -1.1 14.7 -1.1 15.2 0.1 15.4 0.2 15.3 4.7 15.1 1.0 14.5 13.7 -1.1 13.3 0.4 34 21787.1 31 6.9 252.2 22043.4 21851.5 314.2 21641.3 21356.7 21723.2 309.0 20848.1 19762.7 301.0 18933.2 257.9 295.5 39FA265420005Restoftheworld 25 267.9 38FA215420003Stateandlocalgovernments 3095.4 37FA315420003Federalgovernment 20 3063.2 243.3 -6.3 36FA105420005Nonfinancialcorporatebusiness 3034.2 35FA155420003Householdsector 218.2 3008.4 Acquisitionofnonproducednonfinancialassets(net) 0.2 18 19 2968.0 -43.1 -36.9 34FA086902105GDP+netU.S.incomereceipts 15 3018.4 5.5 18.0 Grossnationalproduct(GNP)= -2.0 17.9 2904.3 2757.2 67.0 6.3 33FA266904101-U.S.incomepayments 21 61.5 2.2 -526.2 2671.4 32FA266904001U.S.incomereceipts 74.8 31FA266904005NetU.S.incomereceiptsfromrestofworld -577.9 68.5 11.0 2.0 -653.0 Memo: 113.3 16 102.3 5.7 -662.7 134.4 4.6 68.3 62.6 30FA215019001Stateandlocal -633.8 117.2 3.6 29FA315019001Federal 2.6 -631.9 54.7 51.1 28FA365019005Grossinvestment(5) 115.2 9 -638.2 2.3 30.2 115.7 27.9 27FA216901001Stateandlocal 2.9 215.4 11 -575.3 288.0 26FA316901001Federal 118.4 -518.8 27.1 216.7 0.4 25FA366901005Consumptionexpenditures(5) 26.6 6.4 291.6 116.6 217.0 10 24FA366902005grossinvestment 296.3 2017.4 122.3 11.3 Governmentconsumptionexpendituresand 217.1 2053.5 299.9 118.2 216.5 2063.6 3.7 23FA266903001-Imports 302.7 22FA266903011Exports 112.3 2072.3 216.8 297.6 2066.5 6 204.1 21FA266903005NetU.S.exportsofgoodsandservices 2064.0 3626.3 302.5 192.5 1994.6 3698.3 20FA115020005Nonfinancialnoncorporatebusiness 279.4 19FA105020005Nonfinancialcorporatebusiness 1847.8 3744.6 191.4 18FA145020005Changeinprivateinventories 261.4 1742.5 3749.5 3783.4 17FA125012063REITs 3743.9 16FA115012005Nonfinancialnoncorporatebusiness 15FA105012005Nonfinancialcorporatebusiness 3628.3 14FA155012005Householdsector 3370.7 1 13FA835012001Residential 3178.7 21534.9 2 21729.1 12FA795013005Financialinstitutions 14584.1 21542.5 14795.0 11FA115013005Nonfinancialnoncorporatebusiness 21340.3 14678.2 21098.8 10FA105013005Nonfinancialcorporatebusiness 14511.2 21427.7 9FA165013005Nonprofitorganizations(4) 14266.3 20580.2 8FA835013001Nonresidential 14562.7 19519.4 13998.7 18715.0 13312.1 7FA835019005Fixedinvestment(3) 12748.5 6FA835019905Grossprivatedomesticinvestment 5FA156901041Services 4FA156901035Nondurablegoods 3FA155011001Durablegoods 2FA156901001Personalconsumptionexpenditures(2) 1FA086902005Grossdomesticproduct(GDP) Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.2 DistributionofGrossDomesticProduct(1) (5) Governmentinventoryinvestmentisincludedinconsumptionexpenditures. (4) Includedinthehouseholdsandnonprofitorganizationssector(tableF.101). (3) Structures,equipment,andintellectualpropertyproducts. (2) Componentofpersonaloutlays,foundontableF.101,line4. (1) ThistableisbasedonNIPA1.1.5intheSurveyofCurrentBusiness,BureauEconomic Analysis(www.bea.gov). 0621 0821 2019 2019 2018 2017 2016 72816. 87410. 86419. 93213. 98927 1948.9 1930.4 1913.2 24 1897.9 3850.7 1876.4 3813.7 1904.5 23 3772.8 2947.8 22 1847.4 3742.3 2421.7 3075.6 1764.6 3683.1 2497.7 3148.2 1702.8 3753.0 2495.1 3166.7 3591.5 2504.0 3154.1 3412.0 2520.3 3136.1 3306.7 2504.3 3148.5 2510.3 2932.1 2356.7 2739.4 2220.6 8 2812.1 7 2862.5 3669.5 2877.2 3680.2 2890.0 3677.6 2882.7 3674.7 4 2878.1 3 5 3670.1 3062.7 2786.9 1487.7 10033.7 3675.6 3010.9 2584.7 10236.5 1547.6 3573.6 3007.0 10121.5 2453.1 1549.7 10004.2 3340.5 2982.4 9868.6 1524.6 3151.6 2912.3 10057.7 1485.4 2978.1 9633.9 1526.8 2889.2 9147.0 1475.6 2752.5 8752.6 1412.6 2643.3 1352.6 4. 1. 3. 6. 9. 7. 5. 3. 1. 33 811.3 834.5 32 851.4 1063.5 876.2 1148.7 30 441.8 29 1160.4 891.2 313.5 28 1177.2 433.4 755.3 863.3 317.1 1149.0 427.4 750.5 838.3 1158.8 311.2 429.2 1106.2 738.5 714.6 304.7 957.9 412.0 733.9 643.5 26 303.1 1146.5 861.7 425.5 715.1 1132.8 309.0 396.8 734.5 1121.1 290.4 378.0 1110.5 687.2 276.8 1091.6 369.7 654.8 1114.0 265.5 635.2 1056.9 992.6 968.6 14 720.3 13 857.4 690.4 12 817.7 291.4 675.2 800.3 300.7 659.2 784.7 300.4 659.1 787.4 300.7 670.9 797.5 297.0 654.5 786.7 299.7 627.9 755.7 285.7 577.0 698.5 265.1 257.8 1. 1. 1. 1. 1. 1. 1. 1. 1. 35 -12.0 -12.7 -13.1 -13.3 -13.2 -13.0 -12.5 -11.9 -11.6 86-. 09-. 68-. 22-. 0837 -0.8 -0.9 -2.2 -2.3 -6.8 -3.1 -0.9 -2.2 -8.6 . 000000000000-. . 39 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 17 4.7 8.0 8.0 5.2 7.3 7.1 3.5 -1.7 5.5 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 9 2020

Summary Summary 2 F06005 rs oetcpout()17501594250224772088230325252791254942 41 21534.9 252.2 21729.1 21542.5 314.2 21340.3 39 21098.8 309.0 597.7 21427.7 20580.2 301.0 593.4 19519.4 38 18715.0 2954.2 257.9 589.8 2923.9 295.5 584.6 2896.1 267.9 579.5 2861.9 2822.6 243.3 586.8 37 2876.1 18183.0 218.2 36 565.7 2725.8 18427.2 -18.6 18216.2 543.2 2578.2 18092.3 -11.7 2463.2 17912.4 528.4 18162.0 -12.6 17545.9 42FA086902005Grossdomesticproduct(2) 16708.8 Equals: -12.9 16053.6 32 175.7 41FA266904005NetU.S.incomereceiptsfromrestofworld -11.5 Less: 169.6 -12.2 184.6 40FA087005005Statisticaldiscrepancy -6.5 30 26 39FA366300005Governmentconsumptionoffixedcapital 163.3 1536.8 29 -28.3 38FA836300005Privateconsumptionoffixedcapital 642.7 -2.5 1520.0 25 Plus: 165.4 7.7 64.9 1507.6 641.5 170.7 -2.6 37FA086010005NationalIncome,fromline1above 1479.3 636.4 -3.2 4.1 22 153.7 1472.3 fromNationalincome: 667.2 644.7 1494.8 27.9 145.4 Calculationofgrossdomesticproduct 2.2 568.3 1441.8 657.2 168.2 -4.4 1364.5 Memo: 463.7 644.9 6.9 18 1312.8 442.6 146.4 -15.5 36FA366402105Currentsurplusofgovernmententerprises 672.6 5.2 440.6 435.7 608.0 1.2 35FA266403101Torestoftheworld(net) 34FA366403145Togovernment(net) 478.8 471.5 560.0 62.7 33FA156403101Topersons(net) -51.5 804.5 14 512.9 32FA146403005Businesscurrenttransferpayments(net) 147.0 -78.1 -48.9 351.7 499.0 13 31FA366402005Less:Subsidies 163.0 -105.0 198.8 -0.9 295.1 479.8 149.2 30FA366240005Taxesonproductionandimports 222.8 196.8 168.9 209.3 29FA086130003Netinterestandmiscellaneouspayments 681.2 157.3 225.2 28FA796310003Domesticfinancial 690.7 159.6 27FA106310005Domesticnonfinancial 10 215.4 960.7 26FA096310003Capitalconsumptionadjustment(CCAdj) 155.6 218.2 1167.0 25FA105020601Inventoryvaluationadjustment(IVA) 232.5 219.8 1084.5 8 262.9 24FA266006403Restoftheworld 1863.9 1124.3 319.4 23FA796006403Domesticfinancial 2123.3 1097.0 377.6 22FA106006405Domesticnonfinancial 2073.9 1118.2 21FA096006401Undistributedprofits 6 2080.5 1156.9 797.7 1999.9 1265.4 20FA266121073Restoftheworld 7 787.7 19FA796121073Domesticfinancial 2069.4 1248.8 1835.6 18FA106121075Domesticnonfinancial 2011.9 779.7 2131.0 17FA096121073Netdividends 4 2084.1 16FA096060015Profitsaftertax 2078.0 777.2 5 2159.9 2116.5 Equals: 2082.7 1702.1 2153.7 767.0 2006.9 2 1695.6 2132.1 15FA796231003Domesticfinancial 777.9 11586.9 2074.6 1683.4 14FA106231005Domesticnonfinancial 2113.3 11575.6 13FA096231001Taxesoncorporateincome 2074.6 756.8 1632.9 11441.7 2095.1 Less: 11386.9 2005.9 1621.2 2123.5 718.8 11306.6 2011.5 1658.2 11427.7 2040.0 12FA266060005Restoftheworld 681.4 10928.5 1588.8 11FA796060005Domesticfinancial 1949.5 10411.6 10FA106060005Domesticnonfinancial 1518.2 9960.3 1876.8 9FA096060005Profitsbeforetax 1423.7 8FA096060025CorporateprofitswithIVA 7FA096060035CorporateprofitswithIVAandCCAdj 6FA116112101RentalincomeofpersonswithCCAdj 5FA146111105Proprietors’incomewithIVAandCCAdj 4FA156401101Supplementstowagesandsalaries 3FA156020101Wagesandsalaries 2FA156025105Compensationofemployees 1FA086010005Nationalincome Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.3 DistributionofNationalIncome(1) 10 (2) TherelationshipofNationalincome(line37) toGrossdomesticproduct(line42)isshownonNIPAtable1.7.5intheSurveyofCurrentBusiness, BureauofEconomicAnalysis. (1) ThistablecorrespondstoNIPA1.12in the SurveyofCurrentBusiness,BureauEconomicAnalysis(www.bea.gov).

Z.1, June11,2020 65. 60. 74. 86. 71. 89. 81. 82. 88. 1 18183.0 18427.2 18216.2 18092.3 17912.4 18162.0 17545.9 16708.8 16053.6 0621 0821 2019 2019 2018 2017 2016 15913. 32614. 34614. 39615. 31617 1371.6 16 1600.1 1352.4 1903.8 1339.6 1836.6 1346.9 1859.7 1324.6 1800.0 1340.9 1850.0 1312.6 1843.7 1239.6 1813.6 1175.9 1739.8 9 1798.9 2126.5 2046.0 2084.9 2015.5 2068.2 2063.5 2133.0 3 2117.4 9427.0 9421.9 9309.6 9273.6 9211.5 9304.2 8888.5 8462.1 8083.5 120-761. 824. 0. 4. 895. 40 52.1 98.9 149.5 102.5 42.1 98.2 10.8 -67.6 -112.0 0. 711149. 858. 0. 538. 34 87.7 85.3 104.5 89.2 88.5 91.9 101.4 97.1 103.8 24 -115.6 25.7 -5.4 21 228.5 78.9 20 551.3 599.4 19 625.8 18.6 497.1 516.7 400.0 512.9 15 29.4 549.1 51.8 318.9 475.4 459.3 -344.6 59.8 374.7 509.2 252.9 480.9 344.7 531.1 60.1 239.7 501.5 359.6 573.9 846.2 56.2 269.6 563.9 12 201.2 58.1 483.8 11 357.2 354.5 172.2 542.4 58.6 313.0 417.2 543.7 64.1 417.7 538.2 422.4 86.9 499.5 419.0 114.7 531.0 419.1 501.7 405.0 454.1 413.5 411.9 456.8 7. 5. 791. 861. 681. 1. 27 28 -12.1 -16.2 19.3 -11.5 -12.7 16.8 -12.7 14.8 -11.7 18.6 -12.2 17.4 -5.2 67.9 -24.8 -53.3 -32.5 -72.6 974. 325. 445. 465. 5833 55.8 54.9 31 75.9 54.6 82.0 54.4 82.6 54.4 61.9 54.6 72.6 53.2 74.7 48.1 64.4 23 59.7 -323.1 61.1 -42.6 61.8 38.7 -8.6 16.1 0.9 71.3 -30.7 29.1 . . 092. 241. 552. 2235 32.2 29.3 25.5 19.6 22.4 24.2 -0.9 0.2 4.8 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

6 F15003 oshlsadisiuin . 604...... 56 0.0 0.0 0.0 0.0 0.0 0.0 52 42.0 52.1 76.0 98.9 48 1285.9 0.0 149.5 990.4 46 102.5 38 -66.6 973.5 5.2 45 42.1 240.0 -65.3 998.1 3.3 98.2 236.8 1083.9 -73.7 36 1011.5 192.5 0.0 10.8 -79.5 4.6 35 928.8 -1.5 108.1 -91.3 -67.6 59FA215404003Stateandlocal 774.7 0.0 5.8 32 -17.9 58FA315404003Federal -1.5 -77.5 0.5 -112.0 696.1 57FA365404005Government 129.8 0.0 42 7.8 56FA155404003Householdsandinstitutions -85.6 -0.4 -467.5 0.4 55FA825404003Domesticbusiness 66.5 -67.9 -444.3 54FA835404005Private 0.0 5.4 -0.4 53FA895404005Disasterlosses -181.4 -507.4 0.5 -63.9 Addenda: 0.0 -38.0 -514.5 -2.7 4.2 0.4 -547.0 29 52FA087005005Statisticaldiscrepancy(line21lessline1) 28 755.3 -26.9 0.0 0.5 -503.3 935.7 51FA215000905Stateandlocal 0.5 750.5 -506.7 3.2 907.1 50FA315000905Federal -3.0 -7.0 738.5 -476.0 49FA365000905Government 892.2 0.5 48FA155000905Householdsandinstitutions -441.9 733.9 -9.4 26 191.9 47FA795000905Financialbusiness 876.2 430.6 46FA115000905Nonfinancialnoncorporatebusiness -2.8 715.1 9.5 0.0 875.6 45FA105000995Nonfinancialcorporatebusiness(3) 426.1 734.5 44FA825000905Domesticbusiness 25 9.5 887.8 431.6 22 1968.7 43FA835000905Private 4381.6 687.2 42FA885000905Netlending(+)ornetborrowing(-),NIPAs(3) 23 2064.4 858.7 433.7 4448.8 0.5 3626.3 654.8 2120.5 820.4 41FA215430005Stateandlocal 4483.1 441.5 3698.3 2138.8 635.2 40FA315430005Federal 4483.4 3744.6 768.4 433.2 17 2169.3 39FA365430005Government 617.1 4498.5 3749.5 21 38FA155430005Householdsandinstitutions 2123.2 428.4 3914.6 4478.4 3783.4 37FA795440005Financialbusiness 612.1 2055.6 4004.9 4315.5 400.0 36FA115440005Nonfinancialnoncorporatebusiness 3743.9 1885.3 605.9 3976.2 35FA105430005Nonfinancialcorporatebusiness 4025.5 3628.3 374.2 1778.3 15 34FA825430005Domesticbusiness 3969.3 3813.9 597.5 3370.7 364.0 33FA835430005Private 3951.9 3178.7 32FA265430003Capitalaccounttransactions(net)(2) 591.8 360.8 3975.6 14 601.8 3806.0 357.9 31FA215019001Stateandlocal 1709.4 11 30FA315019001Federal 3558.9 1691.3 574.4 3552.0 354.2 29FA365019005Grossgovernmentinvestment 3372.6 1675.2 3517.3 28FA155019005Householdsandinstitutions 537.2 350.2 1657.4 3485.9 27FA795013005Financialbusiness 7 508.9 355.8 26FA115050085Nonfinancialnoncorporatebusiness 1633.3 5 3446.5 1609.8 25FA105019985Nonfinancialcorporatebusiness 1664.3 445.7 3402.2 339.8 24FA825019905Domesticbusiness 1288.8 1575.2 3463.0 509.5 23FA835019905Grossprivatedomesticinvestment 322.7 1264.3 1495.6 3291.4 22FA885019905Grossdomesticinvestment 1282.6 487.9 310.3 1433.3 3121.4 1375.5 21FA885090015transactions,andnetlending,NIPAs 486.5 2991.6 1302.8 Grossdomesticinvestment,capitalaccount 480.2 1210.4 20FA216300001Stateandlocal 1030.9 491.0 19FA316300001Federal 958.8 18FA366300005Government 529.1 17FA156300003Householdsandinstitutions 467.7 16FA796300081Financialbusiness 15FA116300001Nonfinancialnoncorporatebusiness 428.6 14FA106300003Nonfinancialcorporatebusiness 13FA826300003Domesticbusiness 12FA836300005Private 11FA886300095Consumptionoffixedcapital 10FA216006005Stateandlocal 9FA316006005Federal 8FA366006005Netgovernmentsaving 7FA156006005Householdsandinstitutions 6FA796012005Financialbusiness 5FA106012005Nonfinancialcorporatebusiness 4FA826006005Domesticbusiness 3FA836006005Netprivatesaving 2FA896006005Netsaving 1FA886000115Grosssaving Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.4 SavingandInvestmentbySector(1) (3) Differsfromnetlendingorborrowing(capital account)intheIntegratedMacroeconomicAccountsofUnitedStatesbystatisticaldiscrepancy (line52). (2) Consistsofnetcapitaltransfersshownontable F.5andtheacquisitionofnonproducednonfinancialassets(net)shownontableF.2. UnitedStatesjointlycompiledbytheFederal ReserveBoardandtheBureauofEconomicAnalysis. (1) ThistableisbasedonNIPA5.1intheSurveyofCurrentBusiness,BureauEconomic Analysis(www.bea.gov).ItisconsistentwiththeIntegratedMacroeconomicAccountsof 11. 855-334-563-487-573-576-615-78749 -1718.7 -1611.5 -1597.6 -1517.3 -1458.7 -1546.3 -1363.4 -835.5 -1016.8 0621 0821 2019 2019 2018 2017 2016 40325. 79625. 97827. 82429. 60624 2690.6 2791.2 2852.4 2873.2 2907.8 2856.2 2769.6 2550.3 2410.3 13 2337.2 12 2954.2 2311.8 2923.9 2290.2 2896.1 2264.4 2861.9 2230.9 2822.6 2274.3 2876.1 2151.4 2725.8 2041.0 2578.2 3 1954.4 2463.2 1875.0 1844.6 1 1793.4 3862.5 1793.3 3906.0 1842.3 3826.7 1818.4 3866.8 1752.7 3909.8 1477.8 3877.3 1416.8 3795.2 3626.5 3484.5 308-0. 276-8. 253-6. 290-0. 28251 -298.2 -307.5 -299.0 44 50 -34.7 -1420.5 -263.2 -1304.0 -275.3 176.8 -1298.6 -1254.1 -286.2 116.7 -1183.4 -297.6 -1260.0 4.6 -301.6 -1065.8 -534.0 -300.8 -172.3 -716.0 31.5 -72.0 -415.2 -121.3 10 -220.2 -231.7 -227.4 9 8 -1344.2 -185.0 -1224.2 -1564.5 -211.7 -1225.2 -1455.8 -1188.0 -1452.6 -213.9 -1122.9 -1373.0 -239.2 -1190.1 -1334.7 -248.1 -1009.8 -1404.0 -724.7 -1248.9 -246.8 -972.8 -677.0 -923.8 7. 5. 5. 03091710. 00216. 21343 1251.3 1167.2 1090.2 1002.8 911.7 1043.0 856.7 359.5 574.8 31 441.8 30 313.5 433.4 317.1 27 427.4 291.4 311.2 429.2 300.7 304.7 412.0 300.4 303.1 425.5 300.7 309.0 396.8 297.0 290.4 378.0 299.7 276.8 369.7 20 285.7 298.2 265.5 19 299.5 18 265.1 296.2 597.7 297.3 257.8 16 294.7 593.4 263.8 295.1 292.0 589.8 259.7 292.6 287.7 584.6 257.0 291.9 292.7 579.5 252.7 294.2 279.6 586.8 247.4 286.1 266.1 565.7 254.2 277.1 256.6 543.2 236.5 271.8 528.4 222.7 4 265.2 210.7 2 555.8 310.5 529.1 388.8 510.7 340.9 466.8 420.3 515.6 507.6 542.3 414.4 446.9 503.8 458.0 505.0 493.0 1. 159-29-09-30-39-. . 28147 -208.1 5.3 -2.2 -23.9 39 41 -3.3 -65.6 -63.0 -61.4 -1.4 -20.9 -60.9 -52.9 -3.7 -59.0 -165.9 -5.0 -60.8 -19.4 -11.5 -60.5 -5.4 -58.8 -58.5 -7.0 -59.1 -248.9 -13.9 52-9. 185. 935. 736. 2340 62.3 60.1 34 33 -1.5 57.3 3.7 -1.5 54.0 1.8 49.3 -0.4 4.2 55.2 -0.4 5.4 51.8 4.2 12.0 -190.4 0.5 45.2 5.8 6.8 4.2 285.3 258.3 11.3 14.5 6 -180.5 46.3 41.2 24.1 -13.4 24.6 13.2 -20.8 29.4 ...... 59 0.0 58 0.0 57 0.0 0.0 0.0 55 0.0 0.0 0.0 54 0.0 0.0 53 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.0 0.0 0.0 0.2 0.0 2.1 0.0 0.0 9.0 2.1 0.0 0.0 0.0 51.0 26.0 0.0 51.2 102.0 0.0 104.1 0.0 0.0 37 0.0 0.0 0.0 0.0 0.0 0.0 16.9 102.7 1.8 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 11 2020

Summary Summary 7 F25405 yters ftewrd(ie 14)-. 9428-. 05-. 05-. 0567 -0.5 62 65 -0.4 60 0.0 59 -79.5 0.0 0.0 63 -0.5 -76.1 0.0 -16.4 0.0 61 0.0 -76.1 -0.4 54 -0.4 -15.1 0.0 0.0 56 0.0 -74.4 0.0 0.0 -16.7 -0.5 -0.4 0.0 0.0 55 -76.1 -18.1 0.0 0.0 0.0 -0.5 0.0 -0.5 -75.7 -19.9 52 0.0 0.0 53 0.0 0.0 2.8 0.0 -0.6 0.0 0.0 51 -73.3 0.0 -17.5 -0.4 0.0 0.0 -72.2 0.0 0.0 -0.6 -9.4 0.0 -20.6 0.0 0.0 0.0 -0.4 -72.4 0.0 -3.0 49 -260.4 -0.5 -0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.5 -18.6 -9.4 0.0 -5.9 0.0 0.0 48 0.0 0.0 0.0 -0.6 0.0 0.0 0.5 0.0 191.5 0.0 45 0.0 0.0 -0.6 0.0 0.0 0.0 0.0 0.0 0.0 0.4 2.6 3.0 -0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.0 8.0 67FA265440005Bytherestof world (lines21-47) 16.9 41 17.8 0.0 0.0 40 0.0 16.9 66FA155440005Bypersons(lines18-44) 0.4 5.5 0.0 65FA215440005Stateandlocal(lines 16-39) 102.7 284.9 1.8 0.0 64FA315440005Federal(lines9-36) 58.8 0.0 0.5 5.5 1.8 63FA365440005Bygovernment(lines 8-35) 0.0 4.4 62FA115440005Noncorporatebusiness (lines7-32) 0.0 0.0 0.0 61FA105440005Nonfinancialcorporations (lines6-29) 0.5 5.5 42 0.0 60FA505400033Otherfinancialbusiness (AIG) 74.0 22.3 59FA735400033Holdingcompanies(GMAC) 37 0.0 0.4 5.5 33 18.7 58FA665410003Brokersanddealers 0.0 70.7 0.0 57FA615410003Financecompanies 0.0 12.0 56FA405400033Government-sponsoredenterprises 17.4 0.6 5.7 70.6 0.0 55FA765440005U.S.-chartereddepositoryinstitutions 0.0 30 30.3 0.0 54FA545410003Lifeinsurancecompanies 18.3 68.9 0.5 5.5 0.0 53FA515440005Property-casualtyinsurancecompanies 0.0 27 52FA795440005Financialcorporations(lines3-26) 0.0 19.7 70.4 0.0 0.0 51FA825440005Byprivatebusiness(lines2-25) 5.6 0.8 0.0 21.4 70.1 0.0 Addenda:Netcapitaltransferspaidbysector 0.0 5.3 1.7 19.2 0.0 66.8 50FA265400003Other 0.0 0.0 49FA265400073Disaster-relatedinsurancebenefits 5.4 22.9 0.0 66.4 22 0.0 48FA265400033CapitaltransferspaidbyU.S.government 0.0 0.0 0.0 47FA265400005Bytherestofworld 23.2 67.0 3.0 20 46FA155400003Other 0.0 0.0 0.0 20.1 5.5 45FA155400073Disaster-relatedinsurancebenefits 24 9.4 44FA155400005Bypersons 105.9 19 0.0 5.0 0.0 18.7 5.5 17 101.3 43FA215400003Other 0.0 0.0 42FA215400033Investmentgrantspaidbyfederalgovernment 17.4 0.0 14.3 0.6 101.5 5.5 41FA215400053Estateandgifttaxespaidbypersons 0.0 40FA215400073Disaster-relatedinsurancebenefits 101.1 18.3 0.0 0.0 14 1.6 39FA215400005Stateandlocal 5.5 15 6.9 104.6 38FA315400003Other 13 19.7 12 0.5 0.0 0.4 0.0 37FA315400053Estateandgifttaxespaidbypersons 0.0 11 0.0 102.1 5.7 0.0 36FA315400005Federal 6.9 21.4 0.4 0.0 35FA365400005Bygovernment 124.8 0.4 0.0 3.2 5.5 19.2 0.0 6.1 439.8 34FA115400003Other 0.5 0.0 0.5 0.0 33FA115400075Disaster-relatedinsurancebenefits 13.4 105.8 22.9 5.6 0.0 32FA115400005Noncorporatebusiness 6.1 0.4 0.0 10 31FA105400003Other 0.0 0.6 0.0 23.2 74.0 30FA105400073Disaster-relatedinsurancebenefits 5.3 4 0.0 6.1 29FA105400005Nonfinancialcorporations 0.5 0.0 0.0 20.1 70.7 0.6 0.0 28FA795400003Other 5.4 0.0 27FA515400073Disaster-relatedinsurancebenefits 6.3 0.5 0.0 70.6 1.2 26FA795400005Financialcorporations 0.5 0.0 25FA825400005Byprivatebusiness 0.0 6.8 68.9 0.4 0.0 0.0 0.9 0.0 24FA895400005Capitaltransfersreceived,bysector 0.7 70.4 6.2 0.6 0.0 23FA265410003Other 1.7 0.0 1 22FA265410073Disaster-relatedinsurancebenefits 70.1 10.0 4.2 105.9 21FA265410005Bytherestofworld 0.5 0.0 2.1 0.0 66.8 101.3 0.0 20FA215400053Estateandgifttaxes,statelocal 0.0 19FA315400053Estateandgifttaxes,federal 101.5 66.4 18FA155410035Bypersons 101.1 17.5 67.0 17FA215410073Disaster-relatedinsurancebenefits 104.6 16FA215410073Stateandlocal 54.9 102.1 15FA315410063Capitaltransferspaidtorestofworld(net) 14FA315410053Othercapitaltransferspaidtopersons 0.0 124.8 13FA315410043Othercapitaltransferspaidtobusiness 12FA315410093Financialstabilizationpayments(2) 439.8 11FA315410073Disaster-relatedinsurancebenefits 105.8 10FA215400033Investmentgrantstostateandlocalgovts. 9FA315410005Federal 8FA365410005Bygovernment 7FA115410003Noncorporatebusiness 6FA105410003Nonfinancialcorporations 5FA795410003Other 4FA515410073Disaster-relatedinsurancebenefits 3FA795410005Financialcorporations 2FA825410005Byprivatebusiness 1FA895410005Capitaltransferspaid,bysector Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.5 NetCapitalTransfers(1) 12 (2) Seriestreatedascapital lossesinthefinancialcorporationssectorsrather thanascapitaltransfersintheFinancialAccounts oftheUnitedStates. (1) Thistableisbasedon NIPAtable5.11intheSurveyofCurrentBusiness, BureauofEconomicAnalysis(www.bea.gov).

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 47-50981. 101. 771. 7366 17.3 16.0 64 63.2 17.7 61.0 19.1 59.5 21.0 56.3 18.4 56.1 9.8 58.2 -15.0 52.7 14.7 -188.2 53.8 46 6.9 44 6.9 6.9 6.9 6.1 6.1 6.1 6.1 6.1 39 79.5 6.1 6.3 76.1 36 18.7 35 6.3 6.8 76.1 98.2 17.4 74.4 18.7 93.5 13.1 18.3 76.1 43.5 94.4 10.7 19.7 75.7 10.7 94.0 21.4 73.3 97.5 19.2 73.4 94.9 22.9 72.4 96.2 273.2 346.6 20.1 92.5 18 24.1 22.9 23.8 25.2 27.1 9 8 81.8 24.7 81.8 78.4 28.5 78.4 77.7 28.5 77.7 76.0 25.4 76.0 77.5 77.5 77.4 77.4 75.6 75.6 84.9 86.1 73.9 73.9 . 120000000000000058 0.0 57 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50 0.0 0.0 0.0 0.0 0.0 47 0.0 0.5 0.0 0.0 0.0 0.4 11.2 0.0 11.9 43 0.5 0.0 0.0 0.0 0.0 0.4 0.0 0.0 0.5 0.0 38 0.0 0.0 0.5 0.0 0.0 0.0 34 0.4 0.0 0.0 0.0 0.0 32 22.8 0.0 31 0.0 0.0 0.4 0.0 0.5 0.0 29 0.0 0.0 28 0.4 0.4 0.0 0.0 0.0 26 0.0 0.0 0.4 0.5 0.0 0.0 0.0 25 0.4 0.0 0.0 0.0 0.5 0.6 0.0 0.0 0.0 0.4 0.0 23 0.0 0.6 0.6 0.0 0.0 250.0 0.0 0.5 0.0 21 0.0 0.0 0.6 0.5 0.0 0.0 0.0 0.0 0.6 3.0 0.0 0.5 0.9 0.0 0.0 0.0 0.0 0.6 9.4 0.0 5.9 1.7 0.0 0.0 0.0 0.0 16 0.5 0.0 0.0 16.0 2.1 0.0 0.6 0.0 0.0 9.5 0.0 2.1 0.0 1.6 0.0 0.0 26.9 0.0 0.0 0.0 0.0 2.1 0.0 3.2 0.0 7 0.0 0.0 6 13.4 0.0 5 0.0 0.0 0.0 0.0 0.0 3 0.0 0.0 0.0 0.0 2 0.0 0.0 0.0 0.0 1.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 207.5 49.4 0.0 17.5 4.7 17.5 1.8 104.3 311.8 1.8 6.5 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

1 F16006 IAcnet(IAdt)(ie4)67 .576 .384 .476 .496 51 9.62 50 19.41 7.74 49 8.57 20.78 7.66 10.34 8.29 7.84 10.17 7.99 8.49 9.82 19.19 7.93 20.88 10.97 12.77 7.69 48 8.97 16735.7 10.61 44 16644.8 6.95 5.6 7.26 16501.6 8.86 16355.7 6.77 16198.5 4.14 5.5 40 16425.2 5.67 46 17.3 15741.5 1609.8 43 14833.0 5.4 -3.7 42 14165.1 1288.8 16.0 238.9 1264.3 45 -2.4 17.7 5.4 301.8 3247.6 1282.6 1426.4 1375.5 317.3 -2.0 19.1 5.4 1368.6 1302.8 41 305.4 1306.3 3477.2 1210.4 52FA176007086Difference(line47) 21.0 -0.6 5.4 283.2 3108.1 51FA156007016NIPAconcept(NIPAdata)(line46) 1720.4 1030.9 50FA176007006NIPAconcept(FOFdata)(line45) 18.4 1802.4 1678.4 -3.2 958.8 301.9 49FA176007026FOFconcept(FOFdata)(line41) 5.2 1411.4 1605.6 Personalsavingasapercentageofdisposablepersonalincome: 6.8 266.6 34 -2.1 1076.3 3382.7 35 1455.7 357.1 244.7 5.0 32 586.1 2096.8 48FA156012005Disposablepersonalincome 1057.6 -12.0 -24.4 -2.0 30 Memo: 1670.9 263.9 224.7 1065.3 84.1 5.1 -12.7 1313.8 14.7 29 1068.6 349.5 -2.1 47FA176007085Difference 291.2 803.7 91.6 742.4 -13.1 376.5 249.9 -2.0 46FA156007015Personalsaving,NIPAconcept(NIPA) 983.5 100.5 -13.3 244.1 238.0 45FA176007005=Personalsaving,NIPAconcept(FOF)(6) 1022.2 109.9 -13.2 308.5 229.0 1188.8 25 26 28 44FA156600075+Contr.forgovt.soc.insur.,U.S.-affiliatedareas 114.6 563.5 419.3 302.3 -13.0 596.0 1131.7 239.2 43FA313154015-Governmentinsuranceandpensionfundreserves(5) 104.2 557.7 416.6 331.5 42FA155111005-Netinvestmentinconsumerdurables -12.5 630.8 239.0 112.2 552.4 412.8 230.8 22 648.2 24 -11.9 41FA176007025Personalsaving,FOFconcept(FOF) 256.9 -12.0 2131.1 96.1 545.8 407.0 637.4 261.9 -11.6 2115.6 40FA175440005Netcapitaltransferspaid(4) -12.7 19 20 538.4 404.6 90.0 854.7 2092.9 634.8 503.4 232.8 -13.1 39FA173199005Otherliabilities 548.6 2069.1 410.3 807.6 637.8 508.2 38FA173169005Otherloansandadvances 2044.7 -13.3 37FA153166000Consumercredit 519.9 17 394.5 790.3 626.9 513.3 2080.6 261.0 36FA173165205Othermortgages -13.2 484.3 375.8 35FA173165105One-to-four-familyresidentialmortgages 2023.7 774.9 593.0 517.0 399.9 1929.0 456.5 -13.0 362.8 777.5 536.3 519.2 34FA174190005Netincreaseinliabilities 338.2 18 1852.6 2727.0 -12.5 787.6 514.4 272.6 33FA115020005Inventories 2746.4 -11.9 32FA155420003Nonproducednonfinancialassets 776.8 506.6 286.1 2741.1 10 31FA155111005Consumerdurables 143.6 746.2 -11.6 2706.6 471.9 30FA175013865Nonresidentialfixedinvestment 324.2 29FA175012865Residentialfixedinvestment 2679.5 -16.0 689.3 452.8 368.4 2718.4 8 28FA172010005Netinvestmentinnonfinancialassets(3) -110.2 526.5 2650.5 348.9 54.2 2521.9 27FA156300103Consumerdurables 381.5 195.6 4 26FA176330005Nonresidentialfixedinvestment 2388.9 -177.5 1651.7 25FA176320005Residentialfixedinvestment 191.3 3 -62.4 24FA176300005Consumptionoffixedcapital 575.3 436.0 92.8 -5.0 606.1 23FA115020005Inventories 499.1 41.5 22FA155420003Nonproducednonfinancialassets 606.1 -21.5 -94.2 21FA155111003Consumerdurables 130.3 20FA175013005Nonresidentialfixedinvestment 599.1 -92.8 -293.5 19FA175012005Residentialfixedinvestment 201.3 596.7 18FA175050005Grossinvestmentinnonfinancialassets 62.2 1 55.2 469.9 4319.7 17FA173099005Miscellaneousandotherassets 43.4 282.1 2131.2 -95.2 16FA153050005Pensionentitlements -82.6 2077.9 723.3 15FA153040005Lifeinsurancereserves 2017.7 14FA163070005Tradereceivables 204.2 3469.4 -53.8 2424.0 13FA153064205Mutualfundshares 12FA153064105Corporateequities(2) 2059.4 11FA174023005Loans 1934.0 10FA153063005Corporateandforeignbonds 1384.3 9FA173062005Municipalsecurities 8FA153061705Agency-andGSE-backedsecurities 7FA173061105Treasurysecurities 6FA174022005Debtsecurities 5FA173034005Moneymarketfundshares 4FA173030005Timeandsavingsdeposits 3FA173020005Checkabledepositsandcurrency 2FA153091003Foreigndeposits 1FA174090005Netacquisitionoffinancialassets Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.6 DerivationofMeasuresPersonalSaving(1) plusnetcapitaltransfers paid(line40).Personalsavings,NIPAconcept (NIPA)(line46)isdisposablepersonalincome (line48)lesspersonaloutlays(tableF.101,line 4). includingcontributionsforgovernmentsocial insurancetoU.S.-affiliatedareas,plusnetinvestmentinnonfinancialassetsofconsumerdurables (line28lessline42)netincreaseinliabilities34) (6) Lines45and46areconceptuallyequivalentbut measuresavingusingdifferentdata.Line45isnetacquisitionoffinancialassetsgovernment insuranceandpensionfundreserves(line1lessline43) (5) RailroadRetirementBoard,theNational RetirementInvestmentTrust,andfederalgovernmentlifeinsurancereserves. (4) TableF.5,line62plus66. (3) Line18lessline24. (2) Directlyheld,andthoseinclosed-endexchange-traded funds.Otherequitiesareincludedinmutualfundshares(line13),lifeinsurancereserves (line15),andpensionentitlements16). (1) Consolidatedstatementforhouseholdsandnonprofit organizationsandnonfinancialnoncorporatebusiness. 0621 0821 2019 2019 2018 2017 2016 03316. 19312. 11811. 17714. 18427 1148.4 1141.3 1127.7 1116.2 1101.8 1121.8 21 1387.2 1109.3 1443.1 1068.8 1445.1 1033.3 1421.7 1385.0 1423.7 1375.9 1313.5 1258.0 3274. 0. 9. 7262. 0. 3. 67847 1637.8 137.7 104.2 23.7 1732.6 499.5 201.1 45.4 -372.7 1. 7. 3. 0. 8. 2. 5. 4. 2. 39 720.1 37 65.8 247.9 36 240.7 150.6 171.1 296.8 228.9 198.7 345.6 184.9 176.5 195.3 203.1 184.2 31 166.4 331.8 238.9 182.6 251.0 274.6 301.8 181.6 223.3 411.4 317.3 192.3 325.9 305.4 230.1 266.9 283.2 301.9 266.6 244.7 224.7 16 562.2 370.0 450.4 412.2 394.5 406.8 393.7 7 -1016.8 471.9 -863.4 324.5 -145.1 714.1 1212.1 229.4 616.1 -35.1 104.1 26 .112 .41.001 .308 .952 9.79 0.83 0.63 0.14 10.70 3.04 1.28 0.31 -2.63 11 572.4 -39.9 124.8 9.4 6 -46.6 -555.3 -618.5 11.9 -153.7 -16.8 726.6 -61.5 1024.1 244.6 -13.9 803.1 -38.0 -71.4 181. 941. . 475. 1. 8615 98.6 -13.4 57.2 13 14.7 -879.3 9 8.3 529.9 -31.0 375.1 16.7 65.3 345.5 49.4 -89.8 154.5 351.2 19.0 -134.4 -52.0 -24.1 41.8 -52.7 309.1 -9.4 52.2 -36.6 12.5 756. 1. 82-749. 097. 2138 72.1 77.9 20.9 91.5 -37.4 38.2 -16.7 64.5 -7.5 12 147.2 62.0 -167.5 -525.5 2 675.4 -28.3 11.1 -1.3 -95.9 -0.5 133.3 -5.8 -7.3 -2.9 -2.6 0.8 12.6 -5.6 . . . . 10635502-. 33 -6.3 0.2 5.5 6.3 11.0 5.7 23 -6.3 3.6 0.2 2.3 5.5 0.4 6.3 14 11.0 4.8 5.7 4.8 3.6 4.8 2.3 4.8 0.4 4.8 4.8 4.3 5 6.3 2048.8 363.5 3.2 537.2 450.5 310.1 415.3 189.1 68.5 9.9 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 13 2020

Summary Summary 3 F13905 iclaeu n te ses46. 17055. 89752. 69457. 89754. 23 5941.6 5879.7 20 5770.2 25 3276.7 11204.7 5689.4 3484.8 11141.5 11072.9 5623.5 3410.5 10970.4 5879.7 3379.6 10881.3 11141.5 5555.5 3318.9 10848.7 5187.0 3484.8 10566.1 12 10262.0 4660.5 952.2 3178.5 3221.9 805.9 29FL173199005Otherliabilities 3003.6 813.4 28FL173169005Otherloansandadvances 779.4 10 27FL153166000Consumercredit 1020.0 26FL173165205Othermortgages 773.6 1003.4 25FL173165105One-to-four-familyresidentialmortgages 805.9 8 990.1 24FL174190005Totalliabilities 837.3 782.2 975.1 754.9 23FL173099005Miscellaneousandotherassets 786.2 895.4 710.5 839.9 5 22FL363150005Governments 1003.4 21FL574190005Privatepensionfunds 672.5 2789.2 943.0 20FL543150005Lifeinsurancecompanies 2322.1 621.0 1006.6 19FL583150005Pensionentitlements 2188.8 3 1058.9 4 754.9 2026.3 18FL153040005Lifeinsurancereserves 1743.7 11746.3 636.9 17FL163070005Tradereceivables 1937.9 11299.9 1561.8 11125.4 2322.1 449.5 1329.8 10935.7 16LM153064205Mutualfundshares 1906.8 10889.9 1473.4 15LM153064105Corporateequities(2) 390.1 11299.9 1717.6 1608.6 10704.0 14FL173066005Consumercredit 1649.1 10233.9 1561.8 9987.2 13FL173065005Mortgages 1518.4 12FL153069005Otherloansandadvances 1601.0 11FL174023005Loans 1396.8 10LM153063005Corporateandforeignbonds 9FL173062005Municipalsecurities 8LM153061705Agency-andGSE-backedsecurities 7FL173061105Treasurysecurities 6FL174022005Debtsecurities 5FL173034005Moneymarketfundshares 4FL173030005Timeandsavingsdeposits 3FL173020005Checkabledepositsandcurrency 2LM153091003Foreigndeposits 1FL174090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.6 AssetsandLiabilitiesofthePersonalSector(1) 14 (2) Directlyheldandthoseinclosed-endexchange-tradedfunds.Otherequitiesareincludedmutualfundshares(line16),lifeinsurancereserves18),pensionentitlements19) . (1) Combinedstatementforhouseholdsandnonprofitorganizationsnonfinancialnoncorporatebusiness.

Z.1, June11,2020 23. 30. 40. 57. 40. 47. 58. 57. 56. 24 25765.0 25478.8 25188.0 24879.0 22 24606.9 13532.8 25478.8 13564.8 24503.3 13421.5 23500.0 19 13324.5 22332.7 26786.6 13206.1 28005.3 13564.8 27412.4 13037.4 27230.8 12696.7 26844.6 12260.3 28005.3 25975.2 15 25943.2 15786.8 24373.9 20607.7 19341.8 19276.1 18944.6 20607.7 16650.4 18111.1 15239.6 1 81079.4 87948.3 84918.5 84184.7 82807.3 87948.3 78252.1 78791.6 71882.8 0621 0821 2019 2019 2018 2017 2016 40043. 09557. 15956. 27657. 47829 5447.8 5270.3 27 5207.6 4146.4 26 5167.4 4230.2 4180.9 5105.9 4170.0 4117.4 5270.3 4095.8 4040.9 5059.5 4009.4 3988.6 4730.6 3960.6 4180.9 4450.0 4170.0 3998.3 3919.0 3813.0 3695.8 3620.8 21 3369.9 9977.1 18 10955.7 1709.0 10580.4 1731.3 10526.8 10319.7 16 1718.8 8064.6 10955.7 1702.5 9759.3 9798.7 1689.0 10024.6 11 9229.8 9110.1 1089.1 1731.3 9149.4 946.0 1659.1 8799.6 1626.6 956.0 9798.7 1568.1 7961.9 924.8 9 8654.8 1871.3 922.4 7306.5 1900.5 7 946.0 1898.9 1543.3 934.1 1906.9 6 1975.3 1901.5 5271.9 950.9 2084.2 1900.5 5634.0 2059.1 1012.4 1867.5 5683.7 1965.1 1896.2 5613.5 1975.3 1884.6 5382.9 1774.3 5634.0 1200.5 5221.7 1156.7 4552.8 4490.3 3. 9. 7. 1. 7. 9. 9. 1. 3. 28 736.0 716.1 694.3 690.8 670.5 716.1 677.8 694.6 630.0 17 260.7 259.5 258.3 257.1 13 109.9 255.9 112.2 259.5 114.1 254.7 116.1 250.5 118.4 244.2 112.2 120.5 129.5 131.2 133. 142. 042. 852. 7014 27.0 27.8 28.5 29.3 30.4 27.8 31.4 35.2 2 30.0 41.3 37.1 37.4 37.6 39.0 37.1 39.7 38.9 26.3 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

7 F33905 iclaeu iblte 2. 5. 01810. 32314. 5. 36188857 55 878.8 40.3 56 1386.1 85.7 -20.5 556.6 -35.5 234.4 1148.2 0.9 1342.3 88.3 1108.3 274.0 58.2 1011.8 253.1 320.4 0.8 925.1 229.3 48 -3.2 234.6 435.6 47 251.5 153.5 98.5 1806.3 411.3 -635.0 41.0 43 45 -219.9 -0.1 37 194.0 682.1 0.0 -25.7 1024.1 -65.8 -1.0 162.3 184.1 0.0 377.7 -2.2 56.3 -163.1 58FA387005005Discrepancy 313.2 0.0 364.3 58.5 -0.8 57FA383190005Miscellaneousliabilities 365.6 5.7 0.0 212.2 247.7 -3.0 56FA143192005Foreigndirectinvestment inU.S. 55FA112090205Equityinnoncorporate business 89.1 154.8 0.0 -1.7 281.1 54FA143178005Taxespayable 33 131.0 36 53FA313140003Lifeinsurancereserves 45.7 -1.5 0.0 7183.4 268.1 34 2995.8 52FA383170005Tradepayables -9.0 -0.1 142.0 0.0 3738.9 51FA103164103Corporateequities 229.6 3080.8 -26.7 -0.1 0.0 4521.5 -35.9 50FA153166000Consumercredit 0.9 3584.3 49FA383165005Mortgages 357.8 0.0 3526.9 48FA383169005Otherloansandadvances 58.9 47FA383168005Depositoryinstitutionloansn.e.c. -113.7 2661.8 46FA384123005Loans 2883.4 109.4 6.0 24 45FA103163003Corporateandforeignbonds 566.5 -68.9 44FA383162005Municipalsecurities 6.4 -25.0 282.3 43FA313161705Agency-andGSE-backedsecurities 42FA313161105Treasurysecurities 165.3 99.4 259.9 41FA103169100Openmarketpaper 22 40FA384122005Debtsecurities 189.0 31.6 -202.5 -9.6 39FA313112003Treasurycurrency -11.7 38FA713014003SDRcertificates 20 -114.7 37FA313111303U.S.officialreserveassets 40.0 381.4 16 21.6 11 53.7 36FA384190005Netincreaseinliabilities -1.2 3.4 223.9 -205.7 12.8 191.1 15 35FA383090005Miscellaneousassets -50.9 0.8 2551.2 -77.1 14 30.9 6.9 2012.2 426.3 34FA103092005U.S.directinvestmentabroad -1.1 -7.9 637.0 33FA152090205Equityinnoncorporatebusiness 7.4 661.9 23.5 32FA383078005Taxespayable -13.6 13 8 545.2 -22.8 2161.4 553.1 9.3 0.0 117.4 -8.5 31FA153050005Pensionentitlements -1.2 646.8 -86.7 389.6 30FA153040005Lifeinsurancereserves 160.1 688.8 29FA383070005Tradereceivables 0.8 -0.6 0.0 1075.6 507.7 68.8 629.5 -255.5 28FA383064205Mutualfundshares 153.7 -37.1 4.6 0.0 -296.9 27FA383064105Corporateequities -68.0 483.8 104.4 -48.9 130.5 10 9 288.9 5.0 26FA383066005Consumercredit 0.0 8468.6 5 -97.2 1285.2 33.1 321.3 25FA383065005Mortgages 3071.2 857.6 748.7 75.3 24FA383069005Otherloansandadvances -1.7 0.0 15.4 3920.3 23FA384023005Loans 814.6 2363.6 181.5 6 171.9 2.2 797.1 22FA383063005Corporateandforeignbonds 0.0 3459.2 3271.0 -717.2 21FA383062005Municipalsecurities 3203.6 784.3 3307.4 20FA383061705Agency-andGSE-backedsecurities -1062.3 0.0 3069.7 3310.6 -380.7 19FA383061105Treasurysecurities 784.7 2734.1 18FA383069105Openmarketpaper 3318.3 -457.2 795.2 0.0 17FA384022005Debtsecurities 2498.5 3296.2 72.3 787.7 3308.1 16FA382051005Securityrepurchaseagreements 0.0 -384.9 3183.9 15FA383034005Moneymarketfundshares 758.6 14FA383030005Timeandsavingsdeposits 2973.3 698.7 1 13FA383020005Checkabledepositsandcurrency 2824.9 5334.3 12FA383091005Foreigndeposits 5132.3 11FA313011005U.S.officialreserveassets 4981.5 5037.5 10FA384090005Netacqisitionoffinancialassets 5032.1 9FA385000005Netlending(+)ornetborrowing(-) 5045.8 4931.5 8FA385420005Nonproducednonfinancialassets 4822.2 7FA145020005Inventorychange 4495.4 6FA385013005Fixednonresidentialinvestment 5FA385012005Fixedresidentialinvestment 4FA155111003Consumerdurables 3FA385050005Capitalexpenditures 2FA385090005Grossinvestment 1FA386000105Grosssavinglessnetcapitaltransferspaid Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.100 DomesticNonfinancialSectors(1) (1) Sumofdomesticnonfinancial sectorsshownontablesF.101through F.107. 0621 0821 2019 2019 2018 2017 2016 19978719. 41211. 4. 09385139. 40 3395.9 815.1 3089.3 542.5 1318.1 1441.2 1496.8 768.7 1159.9 4 3 1387.2 5472.8 1443.1 2 5583.2 1445.1 6758.0 5619.9 1421.7 5658.5 5599.1 1385.0 5801.3 5579.2 1423.7 4881.9 5595.3 1375.9 4516.9 5402.3 1313.5 5214.7 5075.6 1258.0 4945.1 4808.6 5147.9 4423.7 568-2. 596-3. 637-5. 412-8. 42451 -402.4 -486.7 -421.2 -153.8 -693.7 -438.8 -529.6 -320.8 -576.8 3. 6. 1. 3. 0. 2. 2. 7. 6. 52 163.3 173.2 50 128.8 65.8 49 227.4 675.1 171.1 407.1 531.7 198.7 234.1 747.9 176.5 46 515.2 580.3 2982.7 184.2 897.3 166.9 509.2 182.6 285.9 331.0 592.3 42 181.6 1113.1 2734.7 574.3 192.3 1773.8 742.1 582.8 1017.5 230.1 2695.3 484.0 805.1 376.6 1228.4 892.4 850.8 1176.6 35 1741.9 1411.2 1121.0 447.0 922.1 842.8 -1.5 31 562.2 29 288.5 -83.7 370.0 582.5 36.1 450.4 803.3 412.2 -30.6 528.4 394.5 260.0 667.1 406.8 331.2 393.7 149.2 471.9 503.1 324.5 228.5 300.1 19 -1105.7 -706.9 -144.5 551.9 1156.1 214.2 536.1 -15.2 180.6 1. . 2. 41-. 3. 60062. 25 25.0 0.6 16.0 -31.0 -2.0 -4.1 -22.4 4.1 -16.6 16-2. 1. 188551156-1. 563-43658 -1423.6 -526.3 -819.8 155.6 515.1 -168.8 -13.6 -325.7 71.6 44 11.6 162.9 27.9 -85.7 -25.7 19.8 -57.6 14.7 47.3 30 32 98.6 -107.0 -13.4 -68.4 57.2 -123.5 -112.3 26 28 14.7 27 74.5 -873.1 -83.8 127.4 536.1 8.3 83.0 -97.0 40.9 23 381.3 -44.3 71.1 666.0 16.7 -187.2 351.7 -544.9 229.0 58.6 81.8 49.4 160.7 21 656.5 34.5 -29.5 252.4 82.4 357.5 19.0 -8.7 82.4 66.8 -32.7 79.6 41.8 -133.6 68.7 -89.9 317.9 87.1 40.6 17 -529.5 50.1 -136.5 115.5 90.6 56.4 -362.7 -53.4 63.5 34.7 97.2 -53.2 43.8 559.4 -8.5 79.5 913.1 -39.3 286.2 10.9 712.5 7 -16.4 -43.1 30.4 18.0 67.0 74.8 113.3 68.3 54.7 30.2 27.1 64-. 278. 749. 9. 303. 18 35.3 63.0 192.7 91.6 -7.4 12 -103.7 85.0 56.5 32.7 -71.0 -7.9 42.9 2.6 -6.4 7.8 -109.4 131.6 -1.9 . 02020920-. . . 0653 -0.6 54 39.6 0.3 -3.3 1.6 45.0 -0.4 -71.2 2.0 -6.8 0.9 -9.1 -4.0 0.2 215.7 -0.2 39 1.9 38 -0.0 41 0.1 0.0 -32.4 0.0 -23.1 0.0 -9.5 0.0 0.0 -60.7 0.0 0.0 88.7 0.0 -1.1 0.0 0.0 -10.2 0.0 25.9 0.0 0.0 1.8 0.0 0.0 0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 15 2020

Transactions Transactions 7 F13655 omrilmrggs1. 171. 241. 241. 241. 47 12.2 49 10.2 46 12.4 57.1 -0.5 12.4 65.1 3.5 45 12.4 14.7 158.3 -2.8 12.4 49.6 74.9 41 -11.5 12.4 5.8 -12.5 -38.3 -4.5 40 54.5 12.3 29.1 1.5 645.5 38 45.7 -1.4 43 -57.3 11.7 556.8 -24.9 340.0 1.9 37 8.6 -9.0 559.2 -3.2 60.9 14.2 250.7 562.2 1.8 688.7 330.6 370.0 -26.7 -4.1 -10.2 38.5 350.5 363.3 450.4 0.9 -0.3 7.9 -3.3 32 538.8 234.7 412.2 -3.4 58.9 507.2 -2.2 294.8 10.6 394.5 -2.5 606.0 30 6.0 286.5 406.8 50FA157005005Discrepancy 1.6 584.9 -3.3 464.2 314.9 393.7 -30.1 49FA543077073Deferredandunpaidlifeinsurancepremiums 6.4 -2.9 48FA163170005Tradepayables 214.5 471.9 -4.5 28 136.2 143.6 99.4 324.5 47FA163165505Commercialmortgages 23.1 -3.9 46FA153169005Otherloansandadvances -16.0 -202.5 45FA153168005Depositoryinstitutionloansn.e.c.(9) -34.2 -3.6 26 -110.2 44FA153166000Consumercredit 348.9 23 43FA153165105One-to-four-familyresidentialmortgages(8) 23.7 54.2 1941.8 -3.8 42FA154123005Loans 195.6 355.7 22 -4.0 -177.5 1380.9 191.3 -6.2 41FA163162003Debtsecurities(municipalsecurities) 529.7 -62.4 497.9 -53.7 92.8 21 40FA154190005Netincreaseinliabilities 444.8 -3.6 217.8 -5.0 530.5 -1.4 41.5 303.4 473.2 39FA153090005Miscellaneousassets 548.4 -21.5 38FA152090205Equityinnoncorporatebusiness 408.4 -119.5 130.3 531.6 37FA153050005Pensionentitlements(7) -92.8 16 -313.7 36FA153040005Lifeinsurancereserves 181.2 17 215.4 201.3 527.1 -12.0 35FA163070005Tradereceivables 39.2 19 59.4 216.7 55.2 389.9 3560.0 -12.7 34FA153064205Mutualfundshares 19.8 18 1677.1 217.0 7.3 191.0 33FA153064105Corporateequities(6) -95.2 2914.5 -13.1 1629.5 217.1 14 1120.3 675.1 -103.3 10 1704.5 32FA163066223Consumercredit(studentloans) 1387.2 -13.3 17.3 1070.3 177.5 216.5 31FA153065005Mortgages 3158.4 1443.1 1015.7 -13.2 30FA153069005Otherloansandadvances(5) 16.0 2042.3 -78.6 216.8 1445.1 29FA154023005Loans 2807.9 1629.8 -13.0 1421.7 204.1 1503.6 17.7 1418.9 7 28FA153063005Corporateandforeignbonds 1385.0 -12.5 1122.6 192.5 27FA153062005Municipalsecurities 5.6 780.6 1423.7 19.1 812.9 26FA153061705Agency-andGSE-backedsecurities -11.9 191.4 1375.9 25FA153061105Treasurysecurities 8 9 316.3 5.5 6 21.0 1313.5 24FA154022005Debtsecurities -11.6 238.9 1765.4 -3.7 1258.0 1753.4 18.4 301.8 23FA153034005Moneymarketfundshares 11 5.4 3587.6 1733.7 -2.4 22FA153030005Timeandsavingsdeposits 5 317.3 9.8 21FA153020005Checkabledepositsandcurrency 3320.1 1713.8 1609.8 5.4 20FA153091003Foreigndeposits -2.0 305.4 3290.2 1693.6 1288.8 -15.0 3276.7 1723.6 283.2 1264.3 19FA154090005Netacquisitionoffinancialassets 5.4 -0.6 3322.8 1683.7 14.7 1282.6 301.9 3302.4 18FA155000005Netlending(+)ornetborrowing(-) 1606.1 1375.5 5.4 3 -3.2 266.6 3143.7 1542.2 1302.8 16735.7 17FA155420003Nonproducednonfinancialassets 2889.5 16644.8 -2.1 244.7 1210.4 5.2 16FA165013005Nonprofitnonresidential 16501.6 2703.8 15FA155012005Residential 1030.9 16355.7 224.7 14FA155111003Consumerdurablegoods -2.0 16198.5 958.8 5.0 16425.2 13FA155050005Capitalexpenditures 15741.5 -2.1 14833.0 5.1 12FA155090005Grossinvestment 14165.1 -2.0 11FA156000105=Grosssavinglessnetcapitaltransferspaid 10FA155440005-Netcapitaltransferspaid(4) 9FA156300005+Consumptionoffixedcapital 8FA155111005+Netinvestmentinconsumerdurables 7FA156600075-Contr.forgovt.soc.insur.,U.S.-affiliatedareas 6FA313154015+Governmentinsuranceandpensionreserves(3) 5FA156007015=Personalsaving,NIPA(2) 4FA156900005-Personaloutlays 3FA156012005=Disposablepersonalincome 2FA156210005-Personalcurrenttaxes 1FA156010001Personalincome Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.101 HouseholdsandNonprofitOrganizations(1) 16 (9) IncludesloansextendedbytheFederalReserve tofinancialinstitutionssuchasdomestichedgefundsthroughtheTermAsset-BackedSecurities LoanFacility(TALF). (8) Includesloansmadeunderhomeequitylines ofcreditandhomeequityloanssecuredbyjuniorliens(tableF.218,line24). (7) Includespublicandprivatedefinedbenefit definedcontributionpensionplansandannuities,includingthoseinIRAs,atlifeinsurancecompanies. Excludessocialsecurity. (6) Directlyheldcorporateequities,includingclosed-end fund,exchange-tradedandrealestateinvestmenttrustshares. (5) Includescashaccountsatbrokersanddealers andsyndicatedloanstononfinancialcorporatebusinessbynonprofitsdomestichedgefunds. (4) TableF.5,line66. (3) RailroadRetirementBoard,theNationalInvestmentTrust,andfederalgovernment lifeinsurancereserves. (2) SeetableF.6forderivationofalternativemeasurespersonalsaving. (1) Sectorincludesdomestichedgefunds,privateequityandpersonaltrusts.Supplementary tableB.101.nshowsestimatesofannualyear-endoutstandingsnonprofitorganizations.

Z.1, June11,2020 30. 30. 43. 52. 42. 57. 53. 55. 52. 4 15125.9 15356.0 15237.2 1 15073.1 18949.8 14823.0 18845.1 15122.3 18676.9 14531.1 18555.9 13802.1 18355.4 13206.3 18608.3 17819.2 16878.8 16121.2 0621 0821 2019 2019 2018 2017 2016 04822. 22129. 27428. 34123. 30913 2310.9 2337.5 12 5225.4 2324.1 3457.8 2284.6 3394.4 2247.4 3300.4 2298.4 5055.4 2222.1 3802.0 2122.0 3344.8 2014.8 2934.9 2331.1 2 2214.1 2200.3 2175.3 2200.1 2156.9 2183.2 2077.6 2045.8 1956.1 7. 4. 211-9. 13. 2. 142-3. 13. 50 -1637.8 -137.7 -104.2 -23.7 44 65.8 -1732.6 -499.5 42 171.1 633.4 -201.1 198.7 -45.4 548.8 176.5 372.7 544.0 184.2 681.6 182.6 335.7 181.6 527.6 192.3 494.1 230.1 587.6 459.3 25 -995.3 -873.7 -144.8 717.6 1212.2 227.8 609.6 -41.2 102.1 15 720.3 690.4 675.2 659.2 659.1 670.9 654.5 627.9 577.0 1. 7. 2. . 4. . 2. 4. 6. 29 569.0 -43.6 121.2 6.6 -49.9 24 -534.7 8.6 -629.4 -20.7 -153.7 730.2 -70.0 1024.4 -12.0 242.9 796.0 -44.9 -74.2 675. 214. 624. 858. 4539 34.5 80.4 36 98.6 28.5 -13.4 41.3 57.2 16.2 34 14.7 -879.3 41.6 8.3 529.9 52.1 375.1 16.7 345.5 54.2 49.4 154.5 56.7 27 -31.8 351.2 19.0 -24.1 64.8 41.8 309.1 -90.0 52.2 -134.3 -51.9 -52.8 -10.0 -37.4 11.7 73133-591. 7. 555-6. 2017233 147.2 31 62.0 -12.6 -167.5 -11.1 -525.5 -11.8 675.4 -11.9 11.1 -11.8 -95.9 -11.6 20 133.3 -28.3 -12.9 -7.3 -1.3 -10.1 -0.5 -7.0 -5.8 -2.9 -2.6 0.8 12.6 -5.6 . 491. 301. 301. 301. 48 13.5 13.0 13.0 13.0 13.0 13.0 13.4 35 4.8 14.9 4.8 8.2 4.8 4.8 4.8 4.8 4.3 6.3 3.2 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

4 F12925 rpitr’ntivsmn 2999. 32085. . 3. 2. 0344 40.3 -20.5 43 -35.5 541.8 0.9 1135.2 678.9 42 58.2 85.7 644.6 0.8 934.5 234.4 848.3 88.3 -3.2 37 894.7 274.0 378.7 98.5 19.8 320.4 116.4 -219.9 36 665.7 229.3 121.0 1648.0 -8.7 234.6 112.4 251.5 200.0 -13.2 411.3 137.5 107.7 12.4 113.6 49.9 151.2 45FA107005005Discrepancy 28 14.9 142.0 173.7 44FA112090205Proprietors’netinvestment 229.6 81.2 30 43FA143190005Miscellaneousliabilities 3409.0 -35.9 120.4 1248.6 42FA143192005ForeigndirectinvestmentinU.S. 357.8 1315.0 41FA143178005Taxespayable -113.7 1529.8 40FA143170005Tradepayables 20 109.4 1976.7 25.7 1517.5 39FA103164103Corporateequities -68.9 1591.1 -0.3 282.3 38FA143165005Mortgages 16 1163.1 47.4 37FA143169005Otherloansandadvances -6.3 1209.8 259.9 36FA143168005Depositoryinstitutionloansn.e.c. 15 594.0 14 6.5 35FA144123005Loans -10.5 571.8 69.8 34FA103163003Corporatebonds 137.8 2.5 -0.6 33FA103162000Municipalsecurities 130.1 -0.2 32FA103169100Commercialpaper -7.2 -3.6 31FA104122005Debtsecurities 108.4 9 67.9 13 -1.1 -9.9 88.2 1298.6 30FA144194005Netincreaseinliabilitiesandequity -5.5 123.8 -424.1 -1.1 99.1 29FA143090005Miscellaneousassets -2.8 10.0 653.8 82.3 28FA103092005U.S.directinvestmentabroad 0.1 -25.4 426.1 -25.0 1.3 85.9 27FA143070005Tradereceivables 10 11 44.7 846.7 -241.8 26FA103064203Mutualfundshares -50.7 4255.8 0.2 83.4 25FA103064103Corporateequities 103.5 1283.8 35.2 -109.9 25.7 1648.5 4.7 258.6 24FA143066005Consumercredit 65.7 333.6 1155.5 23FA143065005Mortgages 10.6 22FA144023005Loans 384.0 -374.4 1.0 -1592.7 178.9 1118.0 21FA143062005Municipalsecurities -399.6 -1.1 20FA103061703Agency-andGSE-backedsecurities 1303.3 -287.7 19FA143061105Treasurysecurities 1162.6 0.4 18FA103069100Commercialpaper -0.5 1335.0 17FA144022005Debtsecurities 6.9 125.3 16FA102051003Securityrepurchaseagreements 15FA143034005Moneymarketfundshares 14FA143030005Timeandsavingsdeposits 2 13FA143020005Checkabledepositsandcurrency 12FA103091003Foreigndeposits 2693.4 2657.1 11FA144090005Netacquisitionoffinancialassets 2535.4 2530.4 10FA145000005Netlending(+)ornetborrowing(-) 2441.3 9FA105420005Nonproducednonfinancialassets 2541.0 8FA145020005Changeininventories 2448.4 2099.7 7FA145013005Nonresidential 2166.4 6FA145012005Residential 5FA145019005Fixedinvestment 4FA145050005Capitalexpenditures 3FA145090005Grossinvestment 2FA146000105Grosssavinglessnetcapitaltransferspaid 1FA146110005Incomebeforetaxes Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.102 NonfinancialBusiness(1) (1) Combinedstatementfornonfinancialcorporatebusinessandnoncorporatebusiness. 0621 0821 2019 2019 2018 2017 2016 03922. 27126. 39227. 39924. 3547 2305.4 5 2345.1 2437.7 2359.9 4 2464.5 2372.2 2393.5 2477.1 3 2369.2 2481.4 2492.5 3240.3 2361.6 2544.2 2490.2 2516.6 2297.1 2567.5 2481.1 2877.8 2127.2 1 2608.3 2425.8 2193.1 2003.9 2899.9 2550.3 2256.7 1015.6 3096.7 2479.4 2119.9 2150.8 2999.6 2287.3 2191.7 2988.3 2153.9 2286.8 2946.2 2279.1 3007.7 2970.6 2995.2 2877.0 127-8. 5. 9. 457373-4. 4. 56845 -546.8 140.5 -342.4 337.3 1425.7 390.3 256.7 -187.1 39 -112.7 -402.4 -486.7 -421.2 -153.8 -693.7 -438.8 -529.6 -320.8 -576.8 5. 923681393561236. 258. 40 84.3 72.5 65.0 38 322.9 162.3 268.7 315.6 35 404.8 2349.5 153.9 34 376.4 682.1 204.6 396.8 512.6 -65.8 262.1 31 89.2 670.2 424.7 285.1 377.7 250.2 -59.3 575.7 275.6 313.2 472.4 381.9 256.2 365.6 29 461.6 248.2 1630.1 255.2 247.7 27 -74.9 1097.1 488.6 472.7 154.8 875.8 31.2 390.5 260.9 281.1 -112.6 140.3 -45.1 268.1 212.9 320.5 232.8 518.3 286.8 321.6 743.5 135.1 492.1 460.6 596.5 215.9 275.5 6 132.3 119.4 117.2 120.3 121.0 119.5 128.7 129.5 116.0 2. 085833433847042. 23 21.6 22 22.0 0.4 18.1 4.7 -9.7 3.8 -2.3 4.3 7.2 3.3 3.3 5.8 6.0 10.8 11.3 -24.7 -23.6 691. 431. 83-. 372. 0533 20.5 29.6 13.7 -4.3 18.3 14.3 -4.3 25 -16.4 13.5 -17.6 16.9 -16.3 -16.1 -15.5 -16.4 -38.3 -89.2 67.2 8 -43.1 18.0 67.0 74.8 113.3 68.3 54.7 30.2 27.1 3376-...... 26 5.0 5.0 5.0 21 5.0 0.8 5.0 1.3 5.0 18 -0.1 38.3 17 111.5 -9.8 -0.6 60.0 72.5 7.6 -0.4 189.1 162.1 94.6 0.1 -3.3 46.9 -8.1 2.4 0.7 83.9 -1.7 70.6 38.4 26.3 -1.8 -8.8 35.7 -6.9 -1.3 . 1. 40-. 68-124. 333. 41 39.6 -3.3 45.0 -71.2 -6.8 -9.1 32 -4.0 -32.4 -23.1 215.7 -9.5 1.9 -60.7 88.7 24 0.4 -1.1 17.7 -10.2 25.9 -14.4 -6.1 1.8 19 46.7 2.9 11.5 0.0 -20.7 0.2 -36.7 6.7 0.5 12 -9.8 -75.3 1.2 57.9 -9.1 -70.5 36.2 48.6 6.1 5.5 10.4 -110.3 119.0 3.7 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 17 2020

Transactions Transactions 8 F53705 Pninfn otiuin aal . 921. 061. . 18833. 48 32.2 49 47 -4.9 8.3 441.4 1047.3 -31.9 46 11.8 91.0 593.0 -49.0 8.2 579.1 232.7 -53.1 857.9 87.3 14.2 -50.3 769.3 41 273.0 10.6 363.7 -46.1 803.7 40 318.3 1290.0 103.5 -77.0 12.2 -84.6 -23.8 227.8 114.8 -79.2 464.3 19.2 18.1 231.6 95.8 56.0 8.8 248.9 63.5 199.1 409.1 32.7 128.3 52FA105005305Financinggap(7) Memo: 4.2 22.6 51FA107005005Discrepancy 70.0 147.7 32 34 50FA103193005Other 12.3 142.0 -47.6 2558.5 49FA573073005Claimsofpensionfundonsponsor 768.4 229.6 48FA573074005Pensionfundcontributionspayable 4.1 47FA103190005Miscellaneousliabilities 844.3 -35.9 46FA103192005ForeigndirectinvestmentinU.S. 1149.1 357.8 45FA103178005Taxespayable 1526.6 44FA103170005Tradepayables 24 -113.7 1072.1 25.7 109.4 1079.2 43FA103164103Corporateequities -0.3 -68.9 481.8 20 42FA103165005Mortgages 47.4 18 762.2 282.3 41FA103169005Otherloansandadvances(6) -6.3 301.0 19 40FA103168005Depositoryinstitutionloansn.e.c. 259.9 486.9 6.5 39FA104123005Loans 60.4 -10.5 62.1 38FA103163003Corporatebonds(4) 2.5 -75.8 -0.6 37FA103162000Municipalsecurities(5) 122.5 10.2 36FA103169100Commercialpaper -7.2 -3.6 13 17 35FA104122005Debtsecurities 102.7 -1.1 1080.5 56.3 -9.9 81.5 -5.5 -449.9 34FA104194005Netincreaseinliabilitiesandequity -1.1 12.8 628.5 15 92.2 -2.8 33FA103090005Miscellaneousassets 10.0 3455.8 0.1 405.9 32FA103092005U.S.directinvestmentabroad(4) 5.8 850.2 -33.4 -25.0 1.3 14 -264.7 1235.6 897.2 31FA103070005Tradereceivables 0.2 35.6 -7.7 -50.7 79.9 30FA103064203Mutualfundshares 841.3 7 81.8 29FA103064103Corporateequities 25.7 -112.5 -0.4 4.7 17.5 14.8 238.0 391.3 28FA103066005Consumercredit -16.2 -0.4 735.5 27FA103065003Mortgages 1.0 -307.8 26FA104023005Loans 154.1 6 876.9 -1511.8 -0.5 -336.6 -1.1 -99.3 25FA103062003Municipalsecurities 549.0 4 24FA103061703Agency-andGSE-backedsecurities -202.4 -0.6 21.7 64.9 951.1 0.4 23FA103061103Treasurysecurities 67.2 2 22FA103069100Commercialpaper -0.6 -4.6 -3.2 147.0 21FA104022005Debtsecurities 6.9 189.0 163.0 -0.5 67.1 8 20FA102051003Securityrepurchaseagreements 27.9 5 19FA103034000Moneymarketfundshares 2327.8 149.2 1694.5 15.8 -5.9 18FA103030003Timeandsavingsdeposits -4.4 2294.8 1707.6 168.9 17FA103020000Checkabledepositsandcurrency 2176.2 1688.6 25.0 16FA103091003Foreigndeposits 191.5 -15.5 157.3 2175.1 1669.3 2.6 15FA104090005Netacquisitionoffinancialassets -293.4 2090.1 1.2 159.6 1648.6 2184.0 216.0 1678.5 155.6 14FA105000005Netlending(+)ornetborrowing(-) 2105.4 -51.5 1639.9 204.7 232.5 1767.5 1440.2 13FA105420005Nonproducednonfinancialassets -48.9 12FA105020005Inventorychange+IVA 1855.9 262.9 1359.6 11FA105019005Fixedinvestment(3) -0.9 10FA105050005Capitalexpenditures 9FA105090005Grossinvestment 8FA106000105=Grosssavingslessnetcapitaltransferspaid 7FA105440005-Netcapitaltransferspaid(2) 6FA106006065+Foreignearningsretainedabroad 5FA106300015+Capitalconsumptionallowance(1) 4FA105020601+Inventoryvaluationadjustment(IVA) 3FA106121075-Netdividends 2FA106231005-Taxesoncorporateincome 1FA106060005Profitsbeforetax Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.103 NonfinancialCorporateBusiness 18 (7) Thefinancinggapisthedifferencebetweencapital expenditures(line10)andgrosssavingslessnetcapitaltransferspaidforeignearnings retainedabroad(line8minusline6). (6) Loansfromrestoftheworld,U.S.government, andnonbankfinancialinstitutions.DetailcanbefoundontableF.216. (5) Industrialrevenuebondsissuedbystateandlocal governmentstofinanceprivateinvestmentandsecuredininterestprincipalbytheindustrial userofthefunds. (4) Through1992:Q4,corporatebondsincludenet issuesbyNetherlandsAntilleanfinancialsubsidiaries,andU.S.directinvestmentabroadexcludes netinflowsfromthosebondissues. (3) Nonresidentialfixedinvestmentplusresidential fixedinvestment,shownintableF.2,lines10and15respectively. (2) TableF.5,line61. (1) Consumptionoffixedcapitalplusthe consumptionadjustment.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 76215. 01026. 09127. 05625. 05411 2015.4 10 1977.4 2055.7 9 2072.5 2065.6 2874.6 2127.3 2076.9 2154.4 2145.5 2069.1 2518.5 2176.2 2066.8 1837.8 2130.4 2001.0 664.4 2051.0 1859.1 1793.8 1887.4 1746.2 1848.7 1779.7 1 1954.6 960.7 1968.7 1167.0 1084.5 1124.3 1097.0 1118.2 1156.9 1265.4 1248.8 127-8. 5. 9. 457373-4. 4. 56851 -546.8 140.5 -342.4 337.3 1425.7 390.3 256.7 -187.1 43 -112.7 -402.4 -486.7 -421.2 -153.8 -693.7 -438.8 -529.6 -320.8 -576.8 2. 3. 377-871193. 5. 206-4. 52 -449.7 -200.6 -53.5 50 37.5 414.1 101.9 1070.9 630.1 -28.7 44 624.0 -6.3 -347.7 894.0 335.9 -6.7 804.7 128.5 -21.2 868.5 110.7 -24.6 253.3 399.5 84.0 38 682.1 320.7 -65.8 35 81.3 670.2 377.7 184.2 -59.3 313.2 33 381.9 365.6 1465.8 248.2 851.3 247.7 31 472.7 635.5 154.8 -131.8 260.9 -297.6 -30.9 281.1 -2.1 140.3 -105.8 268.1 186.4 320.5 296.8 267.5 286.8 501.0 79.3 75.7 396.4 365.9 160.9 198.8 3 146.4 435.7 471.5 512.9 499.0 479.8 196.8 681.2 690.7 1. 7. 883. 86865. 2. 7342 77.3 -28.9 52.8 8.6 98.6 32.8 48.8 -74.7 -13.8 27 18.2 26 -3.3 18.6 14.4 1.1 -13.4 1.1 -5.1 1.1 3.9 -0.0 -0.0 2.0 2.2 2.4 2.9 -22.8 -21.6 691. 431. 83-. 372. 0537 20.5 29.6 13.7 -4.3 18.3 14.3 -4.3 29 -16.4 13.5 -17.6 16.9 -16.3 -16.1 -15.5 -16.4 -38.3 -89.2 67.2 12 -36.9 17.9 61.5 68.5 102.3 62.6 51.1 27.9 26.6 81211-06-48-23-593. 973. 45 33.8 -9.7 38.8 -75.9 -12.3 -14.8 -10.6 211.1 -8.1 30 5.0 5.0 5.0 5.0 25 -0.1 5.0 0.8 5.0 22 -0.3 38.3 21 132.1 -9.8 60.0 -0.5 61.6 7.6 189.1 -0.3 162.2 94.6 -3.3 -0.1 50.5 -8.1 1.7 1.0 83.9 -2.5 68.8 38.4 19.1 -2.7 -8.8 28.8 -6.9 -4.1 . 541311373041791575. 71039 1731.0 36 50.8 -32.4 185.7 -23.1 167.9 -9.5 330.4 -60.7 183.7 88.7 123.1 28 0.4 25.4 -1.1 17.7 2.6 -10.2 25.9 -14.4 -6.1 1.8 23 68.2 2.9 1.1 0.0 -20.4 0.2 -33.2 0.5 6.9 16 -75.3 1.2 -11.4 57.9 -15.6 -70.5 30.1 48.6 4.2 5.5 10.4 -110.3 119.0 3.7 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

2 F12925 rpitr’ntivsmn 2999. 32085. . 3. 2. 0332 40.3 30 31 -5.2 100.4 -20.5 1.7 87.9 -35.5 26 0.9 85.9 1.0 15.0 65.5 58.2 12.9 1.1 76.6 0.8 6.2 2.1 79.0 -3.2 16.6 1.5 25 21 90.9 358.0 -0.5 0.9 98.5 23 850.5 15.2 2.9 104.4 -0.0 -219.9 9.1 480.2 201.4 -31.3 2.7 0.7 470.7 8.2 44.3 380.8 2.2 0.5 80.9 3.6 450.1 -0.2 27.2 445.5 2.7 511.9 103.6 0.3 681.3 128.8 0.2 32FA112090205Proprietors’netinvestment 447.6 10 116.2 270.8 2.6 31FA113193003Miscellaneousliabilities 77.4 9 30FA115114005ForeigndirectinvestmentinU.S. 218.2 0.7 75.6 29FA113178003Taxespayable 25.8 28FA113170005Tradepayables 57.7 25.3 27FA113165005Mortgages 8 67.4 26FA113169005Otherloansandadvances 7 800.0 20.2 25FA113168005Depositoryinstitutionloansn.e.c. 69.5 24FA114123005Loans -50.5 433.6 22.9 -46.7 80.1 23FA114190005Netincreaseinliabilities 412.9 23.6 -57.7 314.2 91.1 22FA113093005Other 21FA113092405EquityinvestmentinGSEs(3) 20.7 -66.6 369.2 20FA113076005Insurancereceivables 48.2 19FA113090005Miscellaneousassets 382.5 26.7 -80.9 18FA113070003Tradereceivables 426.5 -63.0 24.8 17FA113066003Consumercredit 613.6 -85.4 16FA113065005Mortgages 2 15FA114023005Loans 383.9 365.6 1 -67.7 365.6 14FA113062003Municipalsecurities 362.2 -63.7 13FA113061003Treasurysecurities 362.2 359.2 12FA114022005Debtsecurities 359.2 355.4 11FA113034003Moneymarketfunds 355.4 10FA113030003Timeandsavingsdeposits 351.2 9FA113020005Checkabledepositsandcurrency 351.2 357.0 8FA114090005Netacquisitionoffinancialassets 357.0 343.0 340.0 7FA115000005Netlending(+)ornetborrowing(-) 332.3 322.9 310.5 6FA115020005Changeininventories 310.5 5FA115019005Fixedinvestment(2) 4FA115050005Capitalexpenditures 3FA116000105Grossinvestment 2FA116000105Grosssavinglessnetcapitaltransferspaid(1) 1FA116300005Grosssaving=consumptionoffixedcapital Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.104 NonfinancialNoncorporateBusiness (3) EquityintheFarmCreditSystem. (2) Nonresidentialfixedinvestmentplusresidentialinvestment,shownintableF.2,lines11and16respectively. (1) NetcapitaltransferspaidfromtableF.5,line62. 0621 0821 2019 2019 2018 2017 2016 6. 3. 2. 5. 6. 9. 5. 9. 4. 27 245.5 297.6 24 618.5 352.0 325.6 196.0 22 326.9 163.5 167.0 256.9 252.3 234.2 19 245.3 226.7 164.3 230.1 288.7 330.9 245.8 172.9 338.5 269.0 240.3 208.1 463.2 185.1 211.3 387.9 215.0 243.7 221.5 409.7 242.5 232.9 416.3 230.7 5 4 422.4 416.1 408.7 3 408.9 365.6 411.4 417.0 362.2 415.6 421.9 359.2 421.1 432.1 355.4 414.2 420.0 351.2 424.8 428.4 357.0 397.7 400.0 343.0 373.8 374.2 332.3 310.5 00466657554762635829 5.8 6.3 28 90.6 6.2 79.2 4.7 86.1 5.5 51.7 62.3 5.7 69.8 6.6 76.1 18 56.9 4.6 7.9 62.2 10.0 66.0 60.7 46.3 54.2 55.8 64.3 55.0 76.7 3040-. 00711. . 17-. 20 -2.2 11.7 16 3.4 15 3.4 9.5 3.7 3.7 11.6 3.6 7.1 3.6 2.8 10.0 2.8 3.2 -1.4 3.2 4.0 3.3 3.3 -3.0 3.8 3.8 8.4 8.4 -2.0 -2.0 ...... 17 0.0 0.0 14 0.8 0.0 13 -21.5 0.5 12 0.0 -20.6 11 10.4 107.1 0.2 10.9 0.0 7.7 -0.3 -0.1 -0.1 0.0 7.5 -3.5 -3.6 -0.1 0.0 -0.1 5.8 6 -0.3 0.1 -6.3 0.0 1.6 6.7 1.7 0.6 0.2 0.0 6.5 6.9 7.2 0.8 5.5 6.1 8.0 6.9 0.9 6.3 2.0 9.1 2.8 11.0 2.6 5.7 3.6 2.3 0.4 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 19 2020

Transactions Transactions 9 F33905 iclaeu iblte 5. 3. 1. 5. 0. 0. 15721436859 326.8 55 0.0 62 56 251.4 61 3284.0 -0.1 52 808.0 1033.2 -125.7 -0.1 0.0 -46.9 1839.7 -27.9 506.4 -1.0 991.8 0.0 617.3 402.1 -770.7 2257.2 6.7 -2.2 -366.8 258.5 0.0 1530.5 -20.3 115.3 1492.8 -0.8 862.3 0.0 45.8 902.8 231.5 17.6 -3.0 1135.0 259.7 200.7 0.0 -150.6 -1.7 162.6 152.1 0.0 308.6 -1.5 0.9 46 40 0.0 -0.1 3128.9 -18.4 62FA374190005Netincreaseinliabilities (consolidated)(4) 1190.4 0.0 5.0 -0.1 61FA374090005Netacquisitionoffinancial assets(consolidated)(4) 1864.7 Memo: 862.2 29.1 60FA367005005Discrepancy 2194.4 36 8.6 45.4 1527.9 59FA363190005Miscellaneousliabilities 1428.6 58FA313140003Insurancereserves 6.4 22.5 892.8 57FA363170005Tradepayables 34 29 1209.4 6.9 16.3 30 -4.5 56FA363169005Otherloansandadvances 15.5 6.3 55FA313165403Multifamilyresidentialmortgages 26 28 2.8 54FA364123005Loans -32.6 3.4 28.7 0.8 59.5 6.3 53FA213162005Municipalsecurities -28.2 52FA313161705Budgetagencysecurities 6.0 2.8 1.3 0.8 2.2 51FA313161105Treasurysecurities 7.5 -14.7 50FA364122005Debtsecurities -51.4 0.2 14.8 7.4 -0.1 -2.9 -6.4 49FA313112003Treasurycurrency -20.4 27 30.5 48FA713014003SDRcertificates -2.0 644.9 9.3 -1.3 47FA313111303SDRallocations 1.4 -9.3 33.4 -50.3 23 0.2 6.1 46FA364190005Netincreaseinliabilities 0.8 13.1 -35.8 2.2 25 541.3 20.0 652.9 45FA363090005Miscellaneousassets -2.1 13.8 3.6 4.6 -367.9 44FA363078005Taxesreceivable 8.0 -12.1 110.3 -94.3 43FA363070005Tradereceivables 13.0 0.3 25.9 642.3 1.8 42FA213064203Mutualfundshares 5.0 14.5 7.2 41FA363064105Corporateequities 13.1 -496.4 5.4 7.4 -1.7 8.0 -83.2 40FA313069005Otherloansandadvances 165.9 8.4 18 24 39FA313066220Consumercredit -3.7 2.2 43.3 -2476.0 -172.6 38FA363065005Mortgages -1080.1 12.1 17 37FA364023005Loans 71.6 -2.4 597.7 -1222.4 136.5 36FA363063005Corporateandforeignbonds -1358.6 13.6 35FA213062003Municipalsecurities 20 593.4 152.6 -2277.5 -2.0 -946.7 34FA363061705Agency-andGSE-backedsecurities -1484.6 589.8 11.6 33FA213061105Treasurysecurities 382.9 -844.9 -1292.1 -0.6 32FA213069103Openmarketpaper -740.1 13 -844.1 584.6 31FA364022005Debtsecurities 4.7 695.0 -826.4 -769.7 -3.2 579.5 677.8 30FA212051003Securityrepurchaseagreements -732.0 12 586.8 29FA213034003Moneymarketfundshares -2.1 3267.4 668.3 11 -797.7 28FA363030005Timeandsavingsdeposits 3095.4 5 565.7 3189.6 27FA363020005Checkabledepositsandcurrency 9 -660.6 663.5 -2.0 3063.2 29.7 26FA313011005U.S.officialreserveassets 3165.3 543.2 -18.6 -167.0 3034.2 662.3 3127.9 10 4 -2.1 28.7 -374.9 528.4 25FA364090005Netacquisitionoffinancialassets -11.7 3008.4 7985.0 3082.1 668.0 183.3 2968.0 7861.6 3141.2 28.5 -12.6 -2.0 24FA365000005Netlending(+)ornetborrowing(-) 641.8 210.3 3018.4 7805.0 2940.8 -12.9 2904.3 612.4 7737.1 28.6 196.7 23FA365420005Nonproducednonfinancialassets 2821.8 2757.2 22FA365019005Fixedinvestment 7599.0 -11.5 6 2735.5 611.6 212.6 28.0 21FA365090005Grossinvestment 2671.4 3 7750.7 1454.9 1 -12.2 200.9 1536.8 7369.5 1441.8 28.4 20FA366000105=Grosssavinglessnetcapitaltransfers 6420.6 1520.0 7014.4 205.1 -6.5 1426.7 6405.8 1507.6 19FA365440095-Netcapitaltransfers(3) 6816.1 27.7 1421.7 205.8 6352.4 18FA313154015-Insuranceandpensionfundreserves(2) 1479.3 -2.5 1413.0 17FA366300005+Consumptionoffixedcapital 6364.1 25.9 306.0 1472.3 1425.8 16FA366006005Netsaving,NIPAbasis 6264.3 -2.6 1494.8 365.4 1361.6 24.6 6346.7 1441.8 15FA366402005Subsidies 1304.6 6120.6 14FA366130005Interestpayments 1364.5 1245.0 6041.6 13FA366403005Othercurrenttransferpayments 1312.8 12FA366404005Governmentsocialbenefits 5892.3 11FA366901005Consumptionexpenditures 10FA366900015Currentexpenditures,NIPAbasis 9FA366402105Currentsurplusofgovernmententerprises 8FA366403105Currenttransferreceipts 7FA366150105Incomereceiptsonassets 6FA366601005Contributionsforgovt.socialinsurance 5FA316231061Taxesfromtherestofworld 4FA366231005Taxesoncorporateincome 3FA366240005Taxesonproductionandimports 2FA366210005Personalcurrenttaxes 1FA366010115Currentreceipts,NIPAbasis Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.105 GeneralGovernment(1) 20 (4) ExcludesTreasurysecurities andmunicipalsecuritiesheldbystate localgovernments(lines33and35)federal governmentloanstostateandlocalgovernments (line56). (3) TableF.5,line63less line12. IncludesvalueofTreasury andagency-GSE-backedsecuritiesheld bystateandlocalgovernmentemployeeretirement funds. (2) RailroadRetirement Board, theNationalRailroadRetirementInvestment Trust,andfederalgovernmentlifeinsurance reserves.Savingtransferredtothehouseholds and nonprofitorganizationssector. (1) Sumofthefederalgovernmentandstate local governmentssectors.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 96124. 07628. 16920. 15320. 2412 2214.1 2200.3 2175.3 2200.1 2156.9 2183.2 2077.6 2045.8 1956.1 183-32-93-96821-5. 332-2. 6. 60 761.0 -529.1 -373.2 -158.1 822.1 -59.6 -69.3 -93.2 -188.3 21 -1707.7 -315.8 -470.9 -611.6 -1554.0 -738.1 -591.3 16 -73.8 -1564.5 -1455.8 -186.5 -1452.6 -1373.0 -1334.7 -1404.0 -1248.9 -972.8 -923.8 4. 4. 41217. 9. 7. 65372123. 51 2734.7 50 2737.3 742.1 878.9 2695.3 2708.7 376.6 297.5 892.4 849.5 1176.6 1183.7 1411.2 1358.7 447.0 446.5 842.8 876.0 37 75.0 84.1 141.0 78.1 31 -106.3 111.4 194.2 103.6 26.3 78.2 -217.7 102.4 -111.9 115.0 -27.3 -109.7 -7.3 22 755.3 105.9 750.5 738.5 733.9 715.1 734.5 687.2 14 851.2 654.8 849.0 635.2 854.5 875.4 8 814.1 7 825.3 195.0 848.3 817.2 199.2 818.2 838.4 191.9 761.8 821.2 213.5 735.8 804.9 199.9 820.4 201.1 802.6 210.0 770.3 227.1 767.0 224.0 1. 204-06-75-99-81-67-51-6419 -16.4 -15.1 -16.7 -18.1 -19.9 -17.5 -20.6 -260.4 -18.6 266. 0. 727. 205. 766. 57 65.5 87.6 53 50.8 2.7 52.0 137.8 78.4 15.6 67.2 -78.3 105.0 -40.0 62.8 8.8 45 43 77.4 -13.6 72.6 -51.0 0.1 -56.5 -0.4 44 17.8 9.7 -107.0 33.3 -68.4 69.7 39 38 22.5 77.4 16.0 -123.5 59.3 4.8 67.8 -112.3 11.3 22.6 -83.8 88.9 23.1 9.3 7.7 -97.0 92.4 -22.9 38.2 -44.3 33 -17.9 83.4 5.4 -157.1 229.0 6.3 13.8 155.4 83.1 34.5 4.2 21.0 21.3 90.7 -15.4 -129.0 96.3 -62.8 3.4 99.6 -3.9 15.1 -64.4 -10.2 72.4 15 75.9 82.0 82.6 61.9 72.6 74.7 64.4 61.1 61.8 35-. . 34-. 34-. 34-. 41 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 0.6 -3.5 -3.5 . 02020920-. . . 0658 -0.6 0.3 1.6 -0.4 54 2.0 -0.1 49 48 -0.0 0.0 47 -27.9 0.9 0.0 0.0 -770.7 0.0 0.2 0.0 6.7 0.0 0.0 -0.2 0.0 862.3 0.0 42 0.0 17.6 0.1 1.2 0.0 0.0 -150.6 0.0 1.2 0.0 152.1 0.0 0.0 0.9 1.2 0.0 0.0 0.0 1.2 0.0 0.0 35 1.5 0.0 1.2 0.0 0.0 32 -3.0 0.7 0.0 1.2 0.0 3.0 0.2 1.2 3.6 -1.6 1.2 -3.1 -1.1 1.2 0.7 -0.4 -0.8 1.0 -0.2 -5.7 1.0 0.9 0.5 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

5 F33705 liso eso udo pno 5681-00-729. 3. 419-33-6355 50 -36.3 0.0 51 48 -0.6 -0.1 -13.3 0.0 -461.9 -29.0 -1.0 234.5 0.0 -774.6 -2.2 92.1 5.7 0.0 -0.8 -37.2 861.3 45 0.0 -50.0 2734.7 -3.0 15.8 742.1 8.1 0.0 -1.7 -151.7 2695.3 151.7 376.6 -5.6 -1.5 0.0 0.0 892.4 -0.1 40 0.0 1176.6 2704.9 58FA314000105Changeincashbalance (6) 33 1411.2 -18.4 -0.1 Memo: 775.5 31 0.0 447.0 0.0 5.0 1431.5 57FA317005005Discrepancy 842.8 28 654.1 0.0 -1.6 30 56FA313190015Other 29.1 26 0.0 1897.6 55FA343073045Claimsofpensionfundonsponsor 3.4 -1.3 1189.7 0.0 54FA313190005Miscellaneousliabilities 8.6 0.0 53FA313140003Insurancereserves 1280.7 0.8 52FA313170005Tradepayables 1.3 636.9 0.0 22.5 0.0 51FA313169003Otherloansandadvances 885.2 7.4 1.0 16.3 0.0 50FA313165403Multifamilyresidentialmortgages 27 0.0 49FA314123005Loans 636.7 9.3 2.8 0.1 48FA313161705Budgetagencysecurities 0.0 23 47FA313161305Nonmarketable -71.1 0.0 -0.8 46FA313161205Marketable 0.8 25 2.8 0.3 0.0 529.5 45FA313161105Treasurysecurities(5) 608.0 0.0 -0.9 44FA314122005Debtsecurities 4.6 -369.2 -82.5 0.2 0.1 0.0 -85.0 43FA313112003Treasurycurrency -2.2 0.0 533.0 42FA713014003SDRcertificates 5.0 0.4 19 1.0 0.0 41FA313111303SDRallocations -369.3 -2.3 63.2 18 0.0 -3.7 -1.7 -46.5 -0.2 40FA314190005Netincreaseinliabilities 24 173.5 61.0 -6.8 -2096.9 0.0 8.7 -2.4 2.2 -858.0 -170.2 39FA313090005Miscellaneousassets 59.5 -3.1 17 38FA313078000Taxesreceivable -898.5 65.7 299.5 254.1 -2.0 37FA313070000Tradereceivables 56.3 -1023.4 -0.9 36FA313064105Corporateequities(4) 297.3 162.3 -1944.1 35FA313066220Consumercredit(3) -0.6 -1181.0 56.1 295.1 34FA313065005Mortgages 211.3 -2.2 20 -1026.7 33FA313069005Otherloansandadvances -1104.2 -3.2 -474.5 292.6 58.2 -985.5 32FA314023005Loans -8.6 13 -673.9 31FA313063763Corporateandforeignbonds 291.9 695.0 -987.6 -2.1 52.7 30FA313061703Agency-andGSE-backedsecurities -951.1 294.2 677.8 29FA314022005Debtsecurities 9 -2.0 11 12 -188.2 28FA313030003Timeandsavingsdeposits -884.0 -5.7 1146.5 2476.7 286.1 668.3 27FA313020005Checkabledepositsandcurrency 53.8 5 -952.0 1132.8 2401.9 -2.1 26FA313011005U.S.officialreserveassets 277.1 663.5 29.7 -7.2 -774.3 1121.1 2377.3 271.8 662.3 25FA314090005Netacquisitionoffinancialassets -2.0 -257.2 1110.5 2353.9 10 4 28.7 -8.1 4980.8 1091.6 2330.4 668.0 -457.1 118.1 24FA315000005Netlending(+)ornetborrowing(-) 4873.8 1114.0 2365.9 28.5 -8.3 641.8 140.7 3 4833.5 1056.9 2204.2 23FA315420003Nonproducednonfinancialassets 181.5 612.4 4794.2 28.6 130.1 22FA315019001Fixedinvestment 992.6 2109.6 -7.2 21FA315090005Grossinvestment 4699.6 177.1 6 2041.9 611.6 146.0 968.6 28.0 4800.3 -7.7 1431.5 171.5 20FA316000105=Grosssavinglessnetcapitaltransferspaid 1 136.6 4507.4 1418.7 28.4 3636.6 161.7 -2.5 4251.1 138.3 19FA315440095-Netcapitaltransferspaid(2) 1404.0 3649.6 18FA313154015-Insuranceandpensionreserves(1) 4137.4 27.7 166.1 1399.2 147.4 3608.3 1.0 17FA316300001+Consumptionoffixedcapital 1390.4 169.1 3606.3 25.9 251.5 1403.1 16FA316006005Netsaving,NIPAbasis 3576.7 -1.6 160.8 311.9 1339.4 24.6 3610.2 15FA316402001Subsidies 128.7 1283.8 3497.7 14FA316130001Interestpayments 1224.9 136.4 3526.4 13FA316403001Othercurrenttransferpayments 12FA316404001Governmentsocialbenefits 3460.3 11FA316901001Consumptionexpenditures 10FA316900005Currentexpenditures,NIPAbasis 9FA316402101Currentsurplusofgovernmententerprises 8FA316403105Currenttransferreceipts 7FA316150105Incomereceiptsonassets 6FA316601001Contributionsforgovt.socialinsurance 5FA316231061Taxesfromtherestofworld 4FA316231001Taxesoncorporateincome 3FA316240001Taxesonproductionandimports 2FA316210001Personalcurrenttaxes 1FA316010105Currentreceipts,NIPAbasis Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.106 FederalGovernment (6) Timeandsavingsdeposits (line28)pluscheckabledepositsandcurrency atthemonetaryauthorityandU.S.-chartered depositoryinstitutionssectors(tableF.204,lines 3and8). (5) IncludesmarketableandnonmarketableTreasury securitiesheldbythepublicandTreasuryfederalgovernmentemployeeretirement funds. (4) Corporateequitiespurchasedfromfinancialbusinesses undertheTroubledAssetReliefProgram(TARP)andfromGSEsatissuanceprice. thegovernmentpurchasedfromdepositoryinstitutions andfinancecompanies. (3) IncludesloansoriginatedbytheDepartment of EducationundertheFederalDirectLoanProgram,aswellFamily Program loansthat (2) TableF.5,line64less12. (1) RailroadRetirementBoard,theNational RetirementInvestmentTrust,andfederalgovernmentlifeinsurancereserves. 0621 0821 2019 2019 2018 2017 2016 56511. 60210. 68019. 68412. 7342 1723.4 1723.4 1698.4 1691.3 1688.0 1700.3 1620.2 1613.1 1546.5 470-9. 771-7. 14. 710-8. 519-74221 -1784.2 -541.9 -589.5 -721.0 -1647.9 -875.0 -737.1 -199.9 16 -1344.2 -417.0 -1224.2 -1225.2 -1188.0 -1122.9 -1190.1 -1009.8 -724.7 -677.0 3. 173296139-8. 20715. 9. 0. 47 202.7 46 191.7 2532.0 44 550.4 1354.2 2734.6 -200.7 741.1 1341.1 -889.6 577.3 2693.1 113.9 375.8 1782.0 1062.7 279.6 889.5 1131.6 -107.3 1174.9 554.4 131.5 1409.8 711.2 447.0 32 65.1 842.7 74.2 129.1 88.0 108.9 100.0 96.9 99.2 22 313.5 103.0 317.1 311.2 304.7 303.1 309.0 290.4 14 276.8 587.2 265.5 580.0 584.8 605.1 7 543.4 98.8 578.3 104.6 540.7 97.7 475.9 119.7 454.1 106.3 107.1 118.6 137.8 138.0 4. 5. 3. 7. 6. 201-9. 43760157 680.1 -443.7 -398.1 -230.1 763.9 -77.0 -37.1 -57.3 -40.1 53-7. 7. . 8. 397538-4067058 637.0 -74.0 56 -6.5 533.8 39.9 52 -369.7 14.3 54 -82.9 -42.8 -27.2 36.5 1.8 26.6 36.9 0.4 -489.1 23.5 173.2 271.4 1.6 -170.2 18.3 115.5 65.3 29.3 15.5 -18.9 17.0 12.8 -34.5 57.0 20.9 18.6 39 17.5 13.1 6.7 29.4 2.1 5.7 35 77.4 38 -104.7 11.9 67.8 -78.0 8.0 88.9 -133.9 -116.4 6.9 92.4 -82.5 83.4 15.0 -102.7 -50.8 83.1 10.8 223.8 90.7 13.2 23.6 96.3 99.6 15 75.3 81.4 82.0 61.3 8 59.2 72.0 63.5 74.1 86.4 63.8 68.2 60.6 68.5 61.3 71.6 86.0 84.6 79.6 01-...... 36 0.0 0.0 0.0 0.0 0.0 0.0 4.0 -0.1 -0.1 . 02020920-. . . 0653 -0.6 0.3 1.6 -0.4 49 2.0 -0.6 43 42 -0.0 -29.0 0.9 0.0 41 0.0 -774.6 0.0 0.2 0.0 5.7 0.0 0.0 -0.2 0.0 861.3 0.0 0.0 15.8 0.1 0.0 37 2.4 0.0 -151.7 0.0 0.0 151.7 34 -9.1 0.0 6.1 0.0 0.0 0.0 -6.1 0.0 1.3 0.0 29 0.0 0.0 6.1 0.0 11.2 0.0 0.0 0.0 3.2 -13.0 0.0 0.0 0.0 3.0 0.0 -1.5 0.0 10.4 0.6 0.0 0.1 3.4 0.0 3.8 0.2 0.0 3.2 0.0 0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 21 2020

Transactions Transactions 4 F23623 on US oenetlas ...... 44 0.5 1.1 3.9 46 369.6 1.0 224.8 41 1.1 2.7 363.4 40 424.0 235.0 1.8 137.8 414.8 286.5 15.6 433.2 1.1 277.4 -78.3 208.1 149.8 0.4 296.8 -40.0 210.6 33 338.2 8.8 45.4 0.9 246.7 147.9 6.4 -51.0 255.9 31 26 -0.4 6.9 27 -4.5 324.1 15.5 6.3 33.3 47FA217005005Discrepancy -32.6 28.7 0.8 25 6.3 61.1 -28.2 46FA223073045Claimsofpensionfundonsponsor(3) 6.0 2.2 24 45FA213170003Tradepayables 2.7 7.5 -14.7 8.2 -51.4 44FA213169203Loans(U.S.governmentloans) -0.1 -2.9 13.5 -6.4 20.9 -20.4 43FA213162200Long-term -2.0 -1.3 29.5 42FA213162400Short-term(2) 11.8 1.4 -9.3 41FA213162005Debtsecurities(municipalsecurities) 0.2 6.1 33.3 23 21 1.3 -35.8 2.2 44.9 13.9 40FA214190005Netincreaseinliabilities 19.8 -2.1 3.6 -9.3 192.8 14.7 39FA213093003Miscellaneousassets -12.1 38FA213078005Taxesreceivable 7.9 0.3 109.3 25.9 6.2 1.8 37FA213070003Tradereceivables 15.2 22 -127.1 14.1 5.4 -379.1 36FA213064203Mutualfundshares 15.4 -7.6 7.4 -36.7 35FA213064103Corporateequities -222.1 17 8.2 -79.5 15.3 34.6 -323.9 -2.5 12 34FA213065005Loans(mortgages) -76.1 0.0 16 -335.2 15.1 -117.5 298.2 5.9 33FA213063003Corporateandforeignbonds -333.4 18 -76.1 -9.7 32FA213062003Municipalsecurities 0.0 157.5 296.2 14.5 -303.7 31FA213061703Agency-andGSE-backedsecurities -74.4 140.6 294.7 30FA213061105Treasurysecurities -265.4 171.6 13.7 0.0 29FA213069103Openmarketpaper -76.1 -265.6 143.5 292.0 28FA214022005Debtsecurities 13.3 -152.5 -75.7 181.4 0.0 287.7 27FA212051003Securityrepurchaseagreements -73.3 152.0 292.7 26FA213034003Moneymarketfundshares 0.0 11 -72.2 154.4 279.6 10 4 8 25FA213030000Timeandsavingsdeposits 790.7 1948.9 65.2 24FA213020005Checkabledepositsandcurrency -12.9 113.7 266.1 0.0 -72.4 1930.4 787.7 1913.2 90.2 256.6 5 -4.5 23FA214090005Netacquisitionoffinancialassets 69.5 788.0 0.0 9 1897.9 23.4 82.2 22FA215000005Netlending(+)ornetborrowing(-) 66.6 -4.6 3004.2 774.0 1876.4 23.1 0.0 2987.8 1904.5 751.7 21FA215420003Nonproducednonfinancialassets 66.6 -4.6 2971.5 1847.4 20FA215019001Fixedinvestment 22.8 775.4 0.0 2942.9 1764.6 64.3 -4.3 19FA215090005Grossinvestment 2899.4 736.6 1702.8 3 22.6 66.8 2950.4 1355.3 -4.5 712.2 18FA216000105=Grosssavinglessnetcapitaltransferspaid 1 22.5 2862.1 1342.9 2784.0 58.4 693.6 2763.2 1336.1 -4.0 17FA215440005-Netcapitaltransferspaid(1) 22.7 2756.1 16FA216300001+Consumptionoffixedcapital 2678.7 1317.6 54.5 2744.1 -3.4 1306.2 22.2 15FA216006005Netsaving,NIPAbasis 2757.8 53.5 1325.7 2687.7 -1.0 20.8 1281.0 14FA216402001Subsidies 2736.4 13FA216130001Interestpayments 1235.8 20.1 2623.0 12FA216403001Othercurrenttransferpayments 1176.3 2515.1 11FA216404001Govt.socialbenefitpaymentstopersons 10FA216901001Consumptionexpenditures 2431.9 9FA216900005Currentexpenditures,NIPAbasis 8FA216402101Currentsurplusofgovernmententerprises 7FA216403105Currenttransferreceipts 6FA216150105Incomereceiptsonassets 5FA216601001Contributionsforgovt.socialinsurance 4FA216231001Taxesoncorporateincome 3FA216240001Taxesonproductionandimports 2FA216210001Personalcurrenttaxes 1FA216010105Currentreceipts,NIPAbasis Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.107 StateandLocalGovernments 22 (3) Includedinmiscellaneousliabilities. (2) Debtwithoriginalmaturityof13monthsorless. (1) TableF.5,line65.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 183-59-211. 827. 49-548. 47 81.0 -85.4 24.9 72.0 58.2 17.4 -32.1 -35.9 -148.3 15 -220.2 -231.7 -227.4 -185.0 -211.7 -213.9 -239.2 -248.1 -246.8 0. 73-0. 2. 119-1. 63142-0. 28 -106.3 194.2 26.3 -217.7 -111.9 -27.3 -109.7 -7.3 20 441.8 105.9 19 76.6 433.4 226.1 427.4 118.6 429.2 109.4 412.0 93.9 425.5 396.8 137.0 13 378.0 145.8 264.0 369.7 126.2 269.0 230.5 269.7 270.3 270.7 7 766.1 269.9 753.7 277.5 752.0 285.8 2 753.0 490.7 281.7 736.4 476.9 748.8 477.0 716.6 508.8 685.6 468.9 687.4 482.9 457.4 432.7 409.5 324. 815. 915. 045. 1345 51.3 51.1 43 50.4 8.9 50.4 119.8 38 49.1 22.8 -2.3 37 50.2 -89.0 9.6 -16.0 -44.9 48.1 9.3 10.4 2.2 45.3 34 15.8 4.1 9.9 -54.1 43.2 16.4 -1.3 10.0 -5.2 1.6 11.9 5.7 36.1 10.8 -9.9 6.6 30 27.8 2.5 -157.1 5.2 155.4 6.2 3.6 21.0 10.8 17.5 -18.7 -129.0 -62.8 3.2 -3.9 12.0 -64.4 -10.2 72.4 6 96.2 94.7 94.2 93.8 93.5 94.0 91.4 89.3 86.1 27483066501. 731. 6242 -6.2 18.0 -7.3 10.7 5.0 35 -3.4 6.6 -3.4 3.0 -3.4 4.8 -3.4 -2.7 -3.4 -3.4 -3.4 -3.4 -3.4 . 2. 731. 135. 21-867. 39 36 70.7 1.2 -58.6 1.2 12.1 1.2 57.8 32 1.5 1.2 51.3 29 15.7 -3.0 0.7 1.2 -7.3 3.0 0.2 1.2 -28.7 3.6 -1.6 1.2 0.7 -3.1 -1.1 1.2 0.7 -0.4 1.2 -0.8 1.0 -0.2 -5.7 1.0 0.9 0.5 14 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.5 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

5 F62903 qiyi ocroaebsns 7310955207-. . 155355 5.3 56 57 26.5 1051.9 11.5 78.8 40.6 8.8 -162.8 39.7 564.5 -0.0 23.9 502.9 0.7 245.8 22.5 5.2 -152.3 31.7 46 -16.4 443.5 47 9.5 33.9 1353.7 590.9 0.9 -134.1 40.4 1.0 37.7 9.8 44 612.3 74.7 17.3 -63.7 -8.3 6.3 -116.2 -9.0 -69.1 228.0 43 187.2 -4.3 -1.6 1490.6 39 40 309.2 3088.4 200.1 1115.0 38 58FA797005005Discrepancy -27.1 9.4 2297.0 474.0 -388.7 319.0 155.4 696.6 57FA793190005Miscellaneousliabilities 69.1 456.6 791.1 363.8 8.0 56FA793192005Foreigndirectinvestment inU.S. 74.8 37 36 505.4 55FA662090003Equityinnoncorporate business 906.3 3731.4 673.0 5811.6 286.2 33 54FA793178005Taxespayable 34.5 822.6 225.9 3.1 -16.9 457.5 -74.0 445.8 319.5 710.2 53FA583150005Pensionentitlements 1085.2 196.7 37.0 12.2 596.0 225.1 246.9 52FA543140005Lifeinsurancereserves 35 52.9 683.7 -1214.6 20716.5 51FA793170005Tradepayables 189.9 15.4 71.6 346.9 155.6 2860.5 530.1 -317.3 117.2 50FA653164205Mutualfundshares 4304.5 351.7 59.8 -101.2 16.5 261.7 338.4 49FA793164105Corporateequities 3135.0 -11.1 -354.1 -21.2 315.3 534.6 2540.8 53.2 48FA123165005Mortgages 297.5 3210.2 47FA793169005Otherloansandadvances 145.4 38.4 -351.4 1552.5 46FA793168005Depositoryinstitutionloansn.e.c. 270.2 45FA794123005Loans 2678.7 25 0.4 1049.0 2301.6 44FA793163005Corporateandforeignbonds -88.6 43FA423161705Agency-andGSE-backedsecurities 39.6 24 42FA793169175Openmarketpaper -776.0 2579.6 41FA794122005Debtsecurities 50.0 22 24.2 89.0 887.0 40FA792150005Federalfundsandsecurityrepos 781.7 39FA634090005Moneymarketfundshares 107.2 131.4 20 38FA703130005Timeandsavingsdeposits -14.7 859.4 320.4 573.9 37FA793120005Checkabledepositsandcurrency 15 436.9 -197.4 46.7 50.8 480.6 14 36FA794110005Netinterbankliabilities -144.0 20.4 293.3 555.4 8 88.2 141.9 85.1 35FA794190005Netincreaseinliabilities 78.3 16 0.0 95.4 435.3 1475.8 281.0 253.0 13 -21.9 34FA793090005Miscellaneousassets 1278.6 -187.2 372.6 112.8 109.8 -0.0 201.4 33FA793092005U.S.directinvestmentabroad 134.3 168.0 1167.4 309.1 32FA543050005Pensionentitlements 49.1 168.2 147.3 790.3 31FA793040005Lifeinsurancereserves 0.1 39.0 -70.4 130.5 30FA793070005Tradereceivables 4 -1.1 69.4 548.4 227.2 59.1 4.7 0.1 29FA793064205Mutualfundshares 579.7 18.9 254.3 -31.4 28FA793064105Corporateequities 9.8 8.0 435.3 0.1 340.5 73.3 12.6 27FA793066005Consumercredit 259.5 32.6 26FA793065005Mortgages 8.0 -84.8 0.1 100.4 6 25FA793069005Otherloansandadvances 48.5 5 -284.9 -443.2 24FA793068005Depositoryinstitutionloansn.e.c. 48.5 7 5.2 291.4 23FA794023005Loans 0.0 -225.4 20273.3 37.9 300.7 2635.0 243.4 22FA793063005Corporateandforeignbonds 7.3 0.0 4547.9 21FA793062005Municipalsecurities 300.4 -78.8 3056.2 20FA793061705Agency-andGSE-backedsecurities 7.1 300.7 -0.1 19FA793061105Treasurysecurities 458.8 2999.6 18FA793069175Openmarketpaper 297.0 3309.7 99.5 17FA794022005Debtsecurities 3.5 1783.8 299.7 1 2912.7 231.3 16FA792050005Federalfundsandsecurityrepos -90.7 285.7 -1.7 15FA793034005Moneymarketfundshares 2315.1 234.0 14FA793030005Timeandsavingsdeposits 211.0 265.1 5.5 13FA793020005Checkabledepositsandcurrency 13.5 284.3 257.8 12FA794010005Netinterbankassets 245.2 11FA633091003Foreigndeposits 256.9 10FA713012003Treasurycurrency 9FA713014003SDRcertificates 249.3 8FA713011005U.S.officialreserveassets 237.3 7FA794090005Netacqisitionoffinancialassets 102.6 6FA795000005Netlending(+)ornetborrowing(-) 241.5 5FA795013005Fixednonresidentialinvestment 4FA125012063Fixedresidentialinvestment 3FA795019005Capitalexpenditures 2FA795090005Grossinvestment 1FA796000105Grosssavinglessnetcapitaltransferspaid Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.108 DomesticFinancialSectors(1) (1) SumoffinancialsectorsshownontablesF.109 throughF.132. 0621 0821 2019 2019 2018 2017 2016 13080319. 35111027631. 75162. 17 6424.6 1795.1 3116.6 267.6 121.0 1325.1 1091.3 860.3 1183.0 1978. 9. 215-3. 168-15-8. 55028 -555.0 -484.3 -91.5 -116.8 -433.2 -281.5 -99.9 80.5 -169.7 12 4095.3 504.4 30.8 -634.1 76.5 -5.6 -388.1 196.0 -210.1 2. 7. 4. 1. 9. 1. 5. 7. 8. 53 585.1 373.2 458.6 49 417.3 260.1 398.8 185.2 412.0 180.4 446.2 345.0 476.5 128.1 328.6 209.7 41 198.4 2070.1 418.9 323.7 255.5 444.8 523.6 471.6 440.9 355.6 34 3249.7 344.6 42.6 389.5 242.8 1223.1 27 1183.6 -8.7 673.0 26 88.1 12.7 644.8 127.6 252.1 548.7 94.7 691.0 734.0 23 4264.6 608.2 101.8 637.2 503.5 103.1 192.9 598.6 94.5 19 1047.5 4774.2 580.9 1437.8 101.7 1534.6 584.2 828.8 132.9 2582.5 501.6 759.0 -454.7 -804.5 1089.0 881.0 714.5 760.3 154.0 770.0 3 296.0 2 308.7 -147.1 83.2 308.3 305.9 551.7 304.3 227.1 306.8 763.1 289.1 406.3 263.4 520.4 263.3 497.4 276.9 3. 347-8. 169-0. 80-6. 2. 6558 56.5 127.7 -267.4 18.0 -506.2 -156.9 -283.1 -394.7 -35.4 29 -399.1 23.9 -239.1 -77.5 -81.5 -93.6 -59.3 18 -32.1 -129.8 -9.0 -82.2 -237.4 -59.0 142.7 -40.7 8.1 95.8 -87.2 184. 333. 953. 51-. 2. 52 51 123.3 120.3 -0.2 -8.8 75.1 36.7 50 32.5 -1320.7 27.6 484.1 19.5 6.0 105.0 31.7 33.9 15.4 45 1791.9 43.3 210.0 -4.2 -115.5 208.2 43.4 49.7 46.5 -63.3 81.8 -75.1 36.8 318.4 -133.0 28.8 -68.5 -10.7 -13.5 73.2 31 28.1 30 113.7 14.1 -15.1 22.4 11.2 18.8 35.9 14.4 16.2 17.4 12.1 -28.3 21 18.5 33.8 44.6 19.0 91.4 53.4 28.3 109.4 47.7 25.9 68.6 -48.6 46.9 29.2 31781017763761. . 4832 34.8 4.7 12.2 7.6 6.3 7.7 100.1 7.8 -3.1 11 -14.5 13.8 7.1 2.8 -0.3 5.8 -2.2 1.9 -9.2 . 08-. 29-. . 362. 4. 54 -40.9 22.7 33.6 1.7 48 -5.2 -6.6 17.6 12.9 2.2 -0.7 -3.1 60.8 3.3 -7.7 42 -32.7 2.2 8.3 -15.8 -102.2 5.6 -27.4 -14.7 1.0 -34.0 33.9 -36.8 0.8 10 9 0.6 0.0 0.3 0.0 0.3 0.0 0.3 0.0 0.4 0.0 0.3 0.0 0.4 0.0 0.8 0.0 1.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 23 2020

Transactions Transactions 4 F73603 eea eev aksok100909-. . 0504-. . 44 1.1 -3.2 0.4 -0.5 0.7 40 -0.6 929.7 93.1 0.9 37 -88.0 392.4 41 0.9 883.3 36 320.1 -17.0 434.4 228.1 1.0 -194.7 50.1 16.1 -149.0 35 32.6 32 34 0.0 638.7 -5.2 174.3 3.3 638.1 30 -259.9 -71.0 87.2 -164.5 -71.0 0.0 -32.1 -161.3 3.7 22.2 31 530.7 17.9 530.7 12.8 1731.3 -1.1 0.0 -370.8 -14.8 -277.7 33.0 -370.2 7.3 29 -3.3 -82.2 3701.7 -148.8 -82.7 23 2.1 0.0 685.9 0.0 486.4 46FA717005005Discrepancy -6.2 26 1.7 3.0 38.3 1.7 1415.8 -289.7 23.2 -6.8 0.0 45FA713193005Other 11.0 0.0 -70.6 18.4 173.2 -22.6 44FA713164003FederalReserveBankstock 173.2 -637.3 -13.8 43FA713190005Miscellaneousliabilities 0.0 89.6 3.8 -170.2 1.4 0.0 -170.3 99.3 -3.0 65.6 42FA712151115Other(12) 65.7 259.5 0.0 -5.4 41FA712151103Reverserepurchaseagreementoperations(11) 20 -7.1 4.9 0.0 234.9 40FA712151003Securityrepurchaseagreements -38.3 -11.4 0.0 -393.1 0.0 1.2 0.0 163.7 39FA713125005Currencyoutsidebanks 194.8 -0.5 0.0 0.0 38FA713122605Duetorestoftheworld 1.8 19 0.0 -211.0 -0.0 -7.9 37FA713129003Duetootherfinancialbusiness(10) 18 36FA713124005Duetogovernment-sponsoredenterprises 203.7 0.0 0.0 16 -0.0 6.5 3452.4 35FA713123043Treasurytemporarysupplementaryfinancingaccount -243.2 209.0 11 0.0 34FA713123030Treasurygeneraldepositaccount 0.0 -0.0 -270.8 17 28.4 4.6 33FA713123023Treasurycashholdings 203.7 -17.5 -248.2 32FA713123005Duetofederalgovernment 0.0 -0.0 0.0 212.5 -243.2 -184.0 -270.7 31FA713120005Checkabledepositsandcurrency -270.8 810.0 -236.5 -198.0 -0.3 0.0 -248.2 -134.2 -69.3 0.0 30FA703025005Vaultcashofdepositoryinstitutions -0.1 -184.3 29FA713113003Depositoryinstitutionreserves 22.7 0.0 -243.3 -236.6 0.0 28FA714190005Netincreaseinliabilities -2.0 -21.7 -5.4 -136.2 0.0 2 -13.3 255.6 27FA713093005Other 10.8 0.8 -11.9 26FA713091103Nonofficialforeigncurrencies(9) 0.0 25FA713090005Miscellaneousassets -17.1 -22.5 0.8 24FA713064103Corporateequities(8) 0.0 23FA713068505Otherfinancialbusiness(7) 0.8 3 22FA713068665Brokersanddealers(6) 0.0 6279.1 21FA713068303Households(TALF)(5) 0.8 845.3 20FA713068005Loans(depositoryinstitutionloansn.e.c.) 538.7 19FA713061703Otheragency-andGSE-bakedsecurities 0.8 18FA713061903Mortgage-backedsecurities -519.4 17FA713061705Agency-andGSE-backedsecurities -398.9 0.8 16FA713061125OtherTreasurysecurities 116.4 15FA713061113Treasurybills 14FA713061103Treasurysecurities 0.8 -389.8 13FA713069603Openmarketpaper -2.6 12FA714022005Debtsecurities 0.7 11FA712051000Securityrepurchaseagreements -31.1 0.6 10FA763069143AMLFandMMLF(4) 9FA713068703Discountwindow(3) 8FA713068705Interbankloans(2) 7FA713022003FederalReservefloat(2) 6FA713012003Treasurycurrency 5FA713014003SDRcertificates 4FA713011005U.S.officialreserveassets 3FA714090005Netacquisitionoffinancialassets 2FA715013005Fixednonresidentialinvestment 1FA716000105Grosssaving Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.109 MonetaryAuthority(1) 24 (12) Includesreverserepurchaseagreementsconducted throughtheFederalReserve’sForeignRepoPool. (11) Reverserepurchaseagreements(RRPs)conducted aspartoftheFederalReserve’sOvernightRRPOperationalExercise(beginning2013:Q3) andtermRRPoperations(beginning2014:Q4). (10) Depositsofdesignatedfinancialmarketutilities (DFMU). (9) Reciprocalcurrencyarrangements(swaplines) withforeigncentralbanks. CompanyLtd(AIA)andAmericanLifeInsurance Company(ALICO),twolifeinsurancesubsidiariesofAIG.Seriesiszeroafter2010:Q4. (8) PreferredinterestsinAIAAuroraLLCandALICO HoldingsLLC,twolimitedliabilitycompaniescreatedtoholdalltheoutstandingcommon stockofAmericanInternationalAssuance fromAIGsubsidiaries;toMaidenLaneIIILLC topurchaseCDOsonwhichAIGhadwrittencreditdefaultswapcontracts;AIG;andCommercial PaperFundingFacilityLLC. (7) LoansextendedtoMaidenLaneLLCfacilitate JPMorganChase&Co.’sacquisitionofBearStearnsCompanies,Inc.;toMaidenLaneIILLC topurchaseresidentialmortgage-backedsecurities (6) LoansextendedthroughtheFederalReserve’sPrimaryDealerCreditFacility(PDCF),AMLF (2008-2010),andMMLF(2020). (5) LoansextendedtofinancialinstitutionssuchasdomestichedgefundsthroughtheTermAsset-Backed SecuritiesLoanFacility(TALF). MoneyMarketMutualFundLiquidityFacility(MMLF).TheAMLFwasdissovedin2010:Q1. (4) FederalReserveloansextendedtoU.S.-chartereddepositoryinstitutionsthroughtheAsset-Backed CommercialPaperMoneyMarketMutualFundLiquidityFacility(AMLF)andthe (3) FederalReserveloansextendedtoU.S.-chartereddepositoryinstitutionsthroughtermauction credit,primarysecondaryandseasonalcredit. (2) ShownontableF.203aspartofline24. (1) AssetsandliabilitiesofFederalReserveBanksTreasurymonetaryaccountsthatsupplyor absorbbankreserves.ExcludestheaccountsofFederalReserveBoard.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 3. 26-8. 1. 389-1. 3. 4. 29128 6279.1 845.3 538.7 -519.5 -398.9 116.4 -386.6 -2.6 -31.1 14 4077.9 859.0 6.3 12 4281.5 615.8 -270.7 -264.5 -198.0 -518.9 99.1 -382.3 -243.3 -137.5 -21.7 -379.5 -13.3 -10.9 -35.8 90-251. 04-021586. 1504. 42 46.4 -135.0 39 61.0 217.0 145.8 105.0 -30.2 102.0 10.4 82.6 17.8 58.5 -12.5 87.0 19.0 96.4 107.4 82.7 01-. . 17-. 20-. 19-. 46 -1.9 -1.9 -0.9 -2.0 -2.0 -1.7 38 48.9 0.4 -0.0 -3.0 -0.2 33 0.6 -0.1 0.0 -0.0 -0.0 -0.0 -0.1 -0.6 -0.0 0.5 0.1 -0.0 -0.0 0.0 0.0 -0.1 9 7 8 196.2 -0.0 306.4 -0.3 -0.3 4 0.4 -0.0 0.0 -0.0 0.3 0.4 -0.0 0.4 -0.1 -0.2 0.1 -0.2 -0.1 -0.0 0.1 -0.0 0.1 -0.1 0.1 -0.1 0.2 0.1 0.1 0.1 -0.1 -0.1 -0.1 0.0 -0.8 0.0 -0.1 . 001105-1. 50-01281-7. 45 -172.0 43 218.1 -170.9 -90.1 215.0 85.0 -89.7 84.5 -211.1 0.5 -210.3 -0.1 1.1 2.0 -0.0 0.9 0.6 1.6 27 11.6 24 0.0 5.5 25 0.0 1427.4 22 21 -11.3 234.9 0.0 16.6 0.0 4.2 0.0 -7.5 0.0 0.0 -5.4 0.0 -1.1 0.0 0.0 -1.7 0.0 -16.8 0.0 -3.0 13 -2.2 0.0 0.0 0.0 15 625.5 0.0 0.9 -10.8 0.0 0.0 0.0 650.0 7.4 0.0 0.1 23.8 0.0 0.0 0.0 10 110.2 4.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6 5 0.0 0.0 0.0 0.6 0.0 0.0 168.5 0.0 0.0 0.3 0.0 0.0 0.0 0.0 0.3 0.0 0.0 0.0 0.0 0.3 0.0 0.0 1 0.0 0.0 0.4 -1.1 0.0 0.0 -1.1 0.3 0.0 -0.1 0.0 0.4 0.0 -1.1 0.8 0.0 -1.1 1.0 0.0 -0.9 -1.9 -2.3 0.5 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

1 F73633 osmrlae o nlddaoe()1319120824-. . . . 41 0.9 0.2 1.7 -1.2 2.4 35 -10.0 38 37 11.4 0.8 60.8 6.5 3.2 117.7 1.2 -1.5 -41.1 -14.5 -2.1 1.9 267.7 -64.6 32 7.2 67.7 1.3 708.2 61.7 -112.5 103.0 2.5 -3.5 -104.6 4.8 28 -85.4 354.5 6.5 43.4 26.8 -88.7 -19.9 27 -20.1 7.7 2297.0 42FA703139105Uninsureddeposits(3) -97.8 167.7 182.5 696.6 -5.6 22 9.2 97.6 -6.3 41FA763066303Consumerleasesnotincludedabove(2) -6.0 505.4 24 35.9 822.6 7723.1 28.2 Memo: 2.0 712.9 710.2 70.3 69.8 40FA707005005Discrepancy 900.6 34.4 683.7 -76.2 39FA703193005Other 908.3 530.1 -7.2 38FA753194503Investmentbyotherfinancialbusinesses 87.0 799.5 37FA763194735Investmentbyholdingcompanies 338.4 36FA703190005Miscellaneousliabilities 1.4 32.5 830.3 534.6 35FA753192003ForeigndirectinvestmentinU.S. 558.8 7.7 34FA763178003Taxespayable(net) 767.6 33FA763164103Corporateequityissues 7.0 776.3 32FA703169005Loans(otherloansandadvances) 13 15 12.2 34.1 31FA763163005Corporatebonds 2344.7 30FA703169175Openmarketpaper 89.0 -2.5 -68.8 29FA704122005Debtsecurities 107.2 20.9 28FA702150005Federalfundsandsecurityrepos 11 320.4 477.0 11.9 27FA703130005Timeandsavingsdeposits 7 50.8 35.4 26FA703127005Checkabledeposits -315.9 131.1 6 141.9 164.2 25FA704110005Netinterbankliabilities 9.1 3701.7 23.8 486.4 281.0 164.5 24FA704190005Netincreaseinliabilities -38.2 -91.0 23.2 109.8 96.5 2 23FA703090005Miscellaneousassets -17.5 135.8 4 48.9 168.2 22FA763092000U.S.directinvestmentabroad 3 -637.3 115.1 7155.1 91.3 -19.9 -568.0 99.3 55.0 52.4 21FA763040005Lifeinsurancereserves 725.9 13.1 36.3 -7.1 907.4 20FA703064205Mutualfundshares 54.1 168.1 6.8 19FA703064105Corporateequities 211.2 553.0 144.4 -393.1 54.7 79.1 18FA703066005Consumercredit 857.2 194.8 -355.3 1 17FA703065005Mortgages 52.6 57.7 760.9 -16.8 -211.0 -153.4 16FA703069005Otherloansandadvances 15FA703068005Depositoryinstitutionloansn.e.c. 54.1 -59.7 417.5 -69.4 14FA704023005Loans 866.7 -55.1 50.2 -141.3 13FA703063005Corporateandforeignbonds 731.9 -61.2 99.1 12FA703062005Municipalsecurities 45.8 11FA703061705Agency-andGSE-backedsecurities -100.9 -44.4 10FA703061105Treasurysecurities 44.2 9FA703069175Openmarketpaper -69.2 8FA704022005Debtsecurities -45.6 7FA702050005Federalfundsandsecurityrepos -97.3 6FA713113003ReservesatFederalReserve 5FA703025005Vaultcash -33.2 4FA704090005Netacquisitionoffinancialassets 3FA705000005Netlending(+)ornetborrowing(-) 2FA705013005Fixednonresidentialinvestment 1FA706000105Grosssavinglessnetcapitaltransferspaid Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.110 PrivateDepositoryInstitutions(1) (3) Includescheckabledeposits(line26)andtimesavings27)notinsuredbythe FederalDepositInsuranceCorporationortheNationalCreditUnionShareFund. Theleasedautomobileisanonfinancialasset;depreciationincludedinline1,andfixedinvestment isincludedinline2. (2) Receivablesfromoperatingleases,suchasconsumerautomobilearebookedcurrent incomewhenpaymentsarereceivedandnotincludedinfinancialassets(orhouseholdliabilities). (1) U.S.-chartereddepositoryinstitutions(F.111),foreignbankingoffices(F.112),banksinU.S.-affiliated areas(F.113),andcreditunions(F.114). 0621 0821 2019 2019 2018 2017 2016 1221153. 9. 88-8. 6. 4. 02625 2022.6 -46.8 166.2 -580.2 78.8 -95.5 34.1 101.5 -142.2 6. 6. 0. 1. 7. 3. 9. 1. 00342 3000.3 813.2 699.7 632.1 -78.4 516.6 36 201.3 356.3 263.1 -21.4 167.4 -200.9 316.5 385.3 119.9 -12.4 51.0 187.6 26 2000.0 192.9 399.3 342.6 -246.6 172.0 55.9 183.6 18 21.7 106.6 17 73.9 225.7 272.7 130.2 14 170.4 2592.0 92.1 435.6 272.4 112.6 10 407.8 144.1 -14.7 102.2 8 684.9 214.9 36.0 730.6 113.3 307.5 170.7 5.0 117.9 300.0 458.9 216.0 141.8 143.6 479.0 565.0 297.5 27.2 255.4 443.7 126.7 212.7 607.4 124.3 238.0 -37.3 97.7 121.9 133.7 293.6 3. 2214. 5. 213294-1. 17835740 365.7 -127.8 -116.0 239.4 -211.3 -53.9 45.5 31 17.6 -242.1 29 0.5 69.0 -33.0 -6.7 -41.6 -10.7 -78.6 -23.9 -18.3 -18.9 -59.0 12.3 -40.7 27.0 -35.0 -16.0 -65.4 -17.6 074. 6. 04259134-4. 12324239 284.2 -142.3 -145.3 113.4 255.9 20.4 -60.6 44.3 10.7 23 356.2 -236.5 43.8 107.4 165.0 19.9 -76.0 -2.7 12 122.2 62.6 1.3 -6.0 -65.2 -42.5 -28.1 -41.1 20.4 47.2 5028-. . 68136940-. 33 -7.6 4.0 6.9 1.3 30 51.4 -6.8 -7.3 1.4 -37.0 -5.2 -7.7 2.8 -35.1 -21.8 -5.0 14.7 20 19 -30.3 1.1 4.5 -1.6 -2.2 1.5 -0.4 -2.7 0.8 1.9 -5.3 2.4 -1.8 0.8 -5.5 2.5 0.2 -2.0 -1.9 -6.9 . 26541. 1. 384. 04-6934 -66.9 20.4 40.8 13.8 -16.8 14.5 5.4 32.6 0.9 21 3.6 7.3 5.8 16 0.0 8.2 0.0 5.4 0.0 6.7 0.0 3.9 9 112.0 0.0 6.4 1.1 0.0 5.6 0.0 5 87.2 0.0 0.6 17.9 0.0 0.4 7.3 0.0 0.5 3.0 0.2 -22.6 1.4 -0.0 0.0 4.9 1.2 1.8 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 25 2020

Transactions Transactions 5 F73633 osmrlae o nlddaoe()1319120824-. . . . 55 0.9 0.2 1.7 -1.2 2.4 52 60.8 0.8 117.7 -41.1 1.2 48 665.8 267.7 1.9 -104.8 67.7 44 -115.8 1.3 96.4 103.0 -88.1 4.8 43 -53.1 -60.6 2401.7 105.6 392.5 26.8 -92.3 7.4 547.1 -9.2 182.5 708.1 56FA763139105Uninsureddeposits(2) 35.7 20.1 395.7 55FA763066303Consumerleasesnot includedabove(1) 23.9 36 67.7 510.9 306.4 Memo: -27.3 491.9 -0.3 31 -6.0 265.9 54FA767005005Discrepancy 7.9 -0.0 600.2 2.0 53FA763193005Other -34.2 52FA763194735Investmentbyholdingcompanies 0.4 51FA763190005Miscellaneousliabilities 34.4 50FA763178003Taxespayable(net) -0.2 49FA763164103Corporateequityissues -7.2 48FA763169305Loans(otherloansandadvances) -0.0 1.4 47FA763163005Corporatebonds -0.1 46FA763169175Openmarketpaper 7.7 45FA764122005Debtsecurities 0.1 7.0 44FA762150005Federalfundsandsecurityrepos -0.1 24 43FA763130005Timeandsavingsdeposits 1711.1 12.2 45.7 42FA763122605Restoftheworld 41FA763129205Privatedomestic -2.5 40FA763123005Federalgovernment 120.0 17 39FA763127005Checkabledeposits 21 -131.7 237.9 8.4 20 -6.3 38FA764116005Toforeignbanks 19 13.0 -12.1 18 0.0 37FA764112005Todomesticbanking 3.9 -0.0 36FA713068705BorrowingfromFederalReservebanks 20.6 97.9 -0.6 35FA713022003FederalReservefloat 1.4 1.4 3.7 34FA764110005Netinterbankliabilities -15.6 254.1 1.1 13 14 42.5 1.4 104.5 177.8 33FA764190005Netincreaseinliabilities 58.2 1.5 3.3 6.6 12 146.4 1.2 44.1 32FA763090005Miscellaneousassets 25.4 10 26.6 -0.4 6.2 -1.4 466.5 31FA763092000U.S.directinvestmentabroad 0.5 11 -37.9 30FA763040005Lifeinsurancereserves 17.0 18.6 32.9 382.5 -0.1 6 12.7 0.8 2.3 5 -16.1 -108.4 1.9 3.1 29FA763064203Mutualfundshares -18.6 21.7 11.8 138.2 2276.5 0.6 28FA763064105Corporateequities 104.5 -3.5 1.6 3.3 276.7 7.8 161.0 23.0 10.0 -6.3 110.2 -176.2 2 27FA763066000Consumercredit -1.0 125.8 98.8 36.1 -1.3 26FA763065005Mortgages 67.8 -6.7 169.3 20.3 1.8 20.3 -7.2 25FA763069703Otherloansandadvances -367.4 3 -0.4 80.5 102.7 42.1 24FA763068005Depositoryinstitutionloansn.e.c. -93.5 -4.5 -10.6 20.9 4970.8 15.3 40.6 -11.3 7.5 23FA764023005Loans 0.4 66.8 610.1 90.8 -24.3 41.1 -5.2 20.6 15.6 18.9 22FA763063095Other -4.7 846.9 148.7 160.3 31.2 21FA763063693PrivatecommercialCMOsandotherstructuredMBS 41.7 21.6 26.0 -273.5 20FA763063663PrivateresidentialCMOsandotherstructuredMBS 619.4 149.3 4.0 -22.6 119.5 19FA763063653Privatecommercialmortgagepass-throughsecurities 47.3 39.7 1 24.2 458.8 18FA763063673Privateresidentialmortgagepass-throughsecurities -159.9 154.3 8.7 17FA763063005Corporateandforeignbonds -90.3 41.2 633.8 -83.1 16FA763062000Municipalsecurities 349.2 15FA763061795Other 37.8 -79.9 14FA763061403CommercialCMOsandotherstructuredMBS 499.3 13FA763061603ResidentialCMOsandotherstructuredMBS -84.7 34.5 12FA763061303Commercialmortgagepass-throughsecurities 739.2 11FA763061803Residentialmortgagepass-throughsecurities -123.3 35.0 10FA763061705Agency-andGSE-backedsecurities -92.7 9FA763061100Treasurysecurities 8FA763069175Openmarketpaper -68.6 7FA764022005Debtsecurities -118.2 6FA762050005Federalfundsandsecurityrepos -51.2 5FA763013005ReservesatFederalReserve 4FA763025000Vaultcash 3FA764090005Netacquisitionoffinancialassets 2FA765013005Fixednonresidentialinvestment 1FA766000105Grosssavinglessnetcapitaltransferspaid Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.111 U.S.-CharteredDepositoryInstitutions 26 (2) Includescheckabledeposits(line39)andtime andsavingsdeposits(line43)notinsuredbytheFederalDepositInsuranceCorporation. Theleasedautomobileisanonfinancialasset; depreciationisincludedinline1,andfixedinvestment2. (1) Receivablesfromoperatingleases,suchasconsumer automobileleases,arebookedascurrentincomewhenpaymentsreceivedandnot includedinfinancialassets(orhouseholdliabilities).

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 9. 9. 9. 9. 30055373868927. 56 2974.8 618.9 773.8 535.3 -340.0 397.0 51 154.7 199.3 97.9 196.0 -146.8 292.6 348.8 302.7 150.7 -38.5 55.9 204.1 33 5572.1 498.7 759.9 1041.2 27 -25.7 470.7 74.8 692.6 26 448.5 175.8 94.1 449.7 215.8 104.5 23 813.3 124.6 1861.1 82.4 336.3 228.8 89.0 338.8 117.0 571.3 62.5 171.6 187.4 122.6 79.8 358.4 164.7 103.8 439.1 246.0 349.0 496.2 7 629.8 52.4 455.0 221.1 247.1 243.9 75.3 110.5 288.7 1. 223-. 7. 111254-0. 26545354 405.3 -236.5 -208.0 295.4 -151.1 47 17.6 -75.1 45 -7.2 0.5 36.3 -202.3 -1.3 -41.6 -12.0 -10.7 -82.9 -23.9 -21.2 -18.9 -47.5 12.3 -38.2 38 -12.9 24.2 -35.0 51.7 -16.0 -54.3 34 -97.7 -24.0 533.7 156.4 -42.1 -165.0 49.4 -13.7 -236.1 -21.9 165.1 -15.4 -15.9 -89.2 -31.1 -17.0 -89.0 15 -42.1 -36.8 -43.6 -24.4 -19.7 -31.1 -7.8 -3.2 -32.6 162. 4. 772508. 156-989. 53 93.9 -19.8 -105.6 81.1 235.0 47.7 -43.3 42 52.9 29.1 -0.7 21.6 -9.2 41 1697.2 53.6 166.7 39 1758.1 351.3 -3.1 185.3 252.2 355.6 10.1 -283.6 307.2 15.0 121.6 -296.9 31.1 2.1 137.8 32 222.4 38.3 136.4 12.8 -186.7 74.0 135.7 58.9 92.6 120.5 96.9 22.4 -64.5 22 -157.0 -29.4 -10.7 39.9 13.4 16 -21.8 119.2 170.3 -2.7 37.8 -4.3 -32.7 -64.6 9 2.7 65.7 -42.3 23.2 48.6 -28.5 300.6 -40.9 140.3 21.1 12.8 46.8 125.6 87.3 -43.2 96.0 5028-. . 68136940-. 49 -7.6 4.0 6.9 1.3 46 18.7 -6.8 -1.9 1.4 -41.4 40 -0.2 -5.2 -10.6 -1.6 2.8 -23.6 1.8 -19.3 35 -5.0 -0.0 12.0 0.1 0.4 -19.2 -0.8 0.3 -8.0 -0.1 -0.1 -0.1 29 28 0.1 -0.1 4.5 -0.3 0.1 -1.9 1.5 -0.1 -0.2 0.2 -2.7 0.1 -0.1 1.9 -6.2 -0.8 2.4 -2.1 0.8 -5.9 2.5 0.0 -2.0 -1.8 -6.9 . 26541. 1. 384. 04-6950 -66.9 20.4 40.8 13.8 -16.8 14.5 5.4 32.6 0.9 37 240.3 -94.0 30 146.8 3.6 -392.7 7.3 330.4 -2.4 5.8 25 -9.2 0.0 8.2 -1.6 0.0 5.4 1.0 0.0 6.7 0.0 3.9 0.0 6.4 0.0 5.6 0.0 0.0 8 110.2 0.0 0.0 0.0 4 87.2 0.0 17.9 0.0 7.3 0.0 3.0 0.0 -22.6 0.0 1.4 0.0 4.9 1.2 1.8 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

7 F73903 oeg ietivsmn nUS . . . . . 21-. . 1. 27 -10.0 29 6.5 11.4 26 32.7 -1.5 3.2 25 -5.4 258.1 -2.1 -14.5 24 33.2 4.4 -197.1 7.2 -64.6 195.7 62.1 61.7 2.9 2.5 -86.3 90.2 -3.5 -11.5 53.5 6.5 0.2 43.4 -2.4 19 193.9 7.7 1890.6 46.4 -20.1 89.2 2.7 102.1 9.2 -5.6 -48.9 71.0 -1.9 -11.1 32FA753139105Uninsureddeposits(2) 79.2 -142.4 25.9 6.4 Memo: 14 115.0 66.7 646.0 -142.5 36.4 31FA757005005Discrepancy 12 9.9 145.8 39.6 30FA753193005Other 10 -62.7 -13.9 29FA753194503Investmentbyotherfinancialbusinesses 17.3 242.0 28FA753190005Miscellaneousliabilities -13.1 41.7 5.6 -124.6 27FA753192003ForeigndirectinvestmentinU.S. 9.4 63.4 24.3 26FA753169175Debtsecurities(openmarketpaper) 6 -50.3 25.3 -207.4 12.8 2 25FA752150005Federalfundsandsecurityrepos -29.2 -95.5 32.1 5.2 5 -7.3 24FA753130005Timeandsavingsdeposits -0.6 85.0 1278.9 -3.1 23FA753127005Checkabledeposits 5.2 8.9 193.9 -0.5 67.4 22FA754112005Todomesticbanks 11.2 3 -72.6 21FA754116005Toforeignbanks 5.2 1936.1 -2.5 -18.0 183.2 20FA754110005Netinterbankliabilities -214.1 -9.5 60.0 5.2 24.5 -85.2 19FA754190005Netincreaseinliabilities -15.8 50.9 -44.5 -2.2 18FA753093005Miscellaneousassets 5.2 -80.4 17FA753064103Corporateequities 75.1 -111.4 174.7 5.2 142.3 16FA753065005Mortgages -25.4 15FA753069703Otherloansandadvances 17.2 -122.6 14FA753068005Depositoryinstitutionloansn.e.c. 5.0 13FA754023005Loans -14.5 4.8 284.1 12FA753063005Corporateandforeignbonds 11FA753062003Municipalsecurities -103.6 3.1 10FA753061703Agency-andGSE-backedsecurities 9FA753061103Treasurysecurities 8FA753069603Openmarketpaper 7FA754022005Debtsecurities 6FA752050005Federalfundsandsecurityrepos 5FA753013003ReservesatFederalReserve 4FA753025003Vaultcash 3FA754090005Netacquisitionoffinancialassets 2FA755013005Fixednonresidentialinvestment 1FA756330005Grosssaving Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.112 ForeignBankingOfficesinU.S.(1) (2) Allcheckabledeposits(line23)andtimesavings24)areconsidereduninsuredaccordingtotheFederalDepositInsuranceAct. (1) Branchesandagenciesofforeignbanks,EdgeActAgreementcorporations,NewYorkinvestmentcompanies(through1996:Q2),AmericanExpressBank2008:Q4). 0621 0821 2019 2019 2018 2017 2016 1805. 921022658. 104143-. 32 -1.9 174.3 -100.4 80.6 246.5 100.2 -9.2 58.2 -138.0 2. 4. 331. 6. 6. 61109-6031 -46.0 110.9 30 173.9 28 86.1 185.2 -101.7 -62.8 -98.6 -23.2 -60.5 -37.6 27.7 18.4 -36.9 -15.5 46.2 53.3 -28.2 -31.7 -16.4 -42.8 27.0 13.8 -21.5 -6.2 21 -11.0 1411.8 20 1426.5 -1.6 -16.6 -7.8 152.8 144.0 -263.7 -277.1 -171.6 -173.6 -71.0 -78.6 70.8 61.5 119.3 114.3 -54.8 -52.3 74908132092091079016 18 9.0 105.1 -24.9 0.7 -36.2 9.1 13 6.7 655.0 2.0 10.6 68.1 9 -4.8 0.9 -58.7 3.4 43.7 -36.5 3.2 -20.4 1.6 64.3 33.7 8.1 28.4 -6.3 10.7 9.0 40.1 1.8 17.4 5.8 -9.9 28.6 29.4 3.3 25.3 00000000000000000017 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 . 23-. 105. 70-41-1515223 22 195.2 14.7 -21.5 -6.2 -14.1 -8.8 27.0 15 -13.4 52.6 0.0 -2.0 11.0 0.0 -7.6 -7.3 11 0.0 0.0 -9.3 32.3 8 0.0 0.0 -5.1 4.5 0.0 2.5 0.0 0.0 0.0 7 0.0 0.0 0.0 104.4 0.0 0.0 -93.5 0.0 12.9 0.0 0.0 0.0 1 15.9 0.0 0.0 4.6 0.0 -55.8 0.0 4.6 0.0 -30.1 26.4 0.0 4.5 0.0 27.3 4.4 0.0 5.1 4.3 4.5 4.2 4.1 2.6 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 27 2020

Transactions Transactions 1 F73605 eoioyisiuinlasnec 14-. . . . . 181. . 11 9 5.3 13.9 12 10.7 -1.8 -0.9 7 Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates -1.8 -0.8 12.9 -4.3 F.114 CreditUnions 6.7 -1.0 18.7 0.9 3 2 -0.7 4.5 0.0 (2) Includescheckabledeposits(line17)andtimesavings18)notinsuredbytheFederalDepositInsuranceCorporation. -2.5 -6.2 0.2 (1) CommercialbanksandbranchesofU.S.-chartereddepositoryinstitutionslocatedinPuertoRico,theU.S.VirginIslands,AmericanSamoa,Guam,otherU.S.-affiliatedinsularareas. -1.2 5.0 7.7 0.2 -9.6 0.2 21FA743139105Uninsureddeposits(2) -0.9 0.5 -0.1 19.2 0.2 Memo: 0.2 -1.2 0.2 9.6 -0.4 20FA747005005Discrepancy -0.3 0.2 0.3 -1.4 1.1 19FA743193005Miscellaneousliabilities -5.2 -0.1 18FA743130003Timeandsavingsdeposits 0.2 -0.7 17FA743127003Checkabledeposits 3.5 -0.0 16FA744110005Netinterbankliabilities 0.2 -0.3 3.5 15FA744190005Netincreaseinliabilities 0.2 14FA743093005Miscellaneousassets -3.9 0.2 13FA743065505Commercialmortgages 7.1 12FA743065103One-to-four-familyresidentialmortgages 11FA743068005Depositoryinstitutionloansn.e.c. 0.2 10FA744023003Loans 9FA743063005Corporateandforeignbonds 8FA743062003Municipalsecurities 7FA743061703Agency-andGSE-backedsecurities 6FA743061103Treasurysecurities 5FA744022003Debtsecurities 4FA743013003ReservesatFederalReserve 3FA744090005Netacquisitionoffinancialassets 2FA745013005Fixednonresidentialinvestment 1FA746330005Grosssaving Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.113 BanksinU.S.-AffiliatedAreas(1) 28 3 F43633 on ohrlasadavne)208229-. 2. . 11-. 2423 22 42.4 0.0 -7.7 -0.0 11.1 0.0 2.7 0.0 -28.1 -0.0 11 -5.5 6.1 -0.0 13 2.9 -17.8 1.0 -0.0 14 22.6 8.2 43.7 9 0.5 -0.0 3.0 -2.6 5 57.2 2.0 -0.0 -0.6 -0.1 16.2 34.1 38.9 (1) Includescheckable deposits (line20)andtimesavings (line21)notinsuredbytheNationalCreditUnion ShareInsuranceFund. 3.5 0.1 4.2 -5.0 42.7 26FA473139103Uninsureddeposits(1) 2 1.1 0.2 7.5 13.7 27.8 -9.5 Memo: 0.4 3 0.6 -5.7 41.7 7.6 4.7 25FA477005005Discrepancy 254.4 41.8 8.8 -1.0 1.6 24FA473193005Miscellaneousliabilities 7.6 135.0 3.9 23FA473169333Loans(otherloansandadvances) 42.1 57.1 0.5 22FA472150053Federalfundsandsecurityrepos 12.1 0.6 7.6 -11.8 21FA473130005Timeandsavingsdeposits 34.7 4.5 20FA473127003Checkabledeposits -5.1 0.0 19FA474110005Netinterbankliabilities 7.5 229.0 -2.4 18FA474190005Netincreaseinliabilities 0.1 7.6 106.4 17FA473090005Miscellaneousassets 79.3 0.0 16FA473064205Mutualfundshares 7.3 15FA473066000Consumercredit 87.1 14FA473065100One-to-four-familyresidentialmortgages 6.3 13FA473068005Depositoryinstitutionloansn.e.c. 89.2 12FA474023000Loans 6.0 11FA473063005Corporateandforeignbonds 10FA473062005Municipalsecurities 9FA473061705Agency-andGSE-backedsecurities 8FA473061105Treasurysecurities 7FA473069153Openmarketpaper 6FA474022005Debtsecurities 5FA472050053Federalfundsandsecurityrepos 4FA473013005ReservesatFederalReserve 3FA474090005Netacquisitionoffinancialassets 2FA475013005Fixednonresidentialinvestment 1FA476000105Grosssaving

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 435. 988. 2. 773. 0. 0121 90.1 109.9 18 37.4 259.9 57.7 119.4 15 47.4 49.2 123.8 -0.9 12 82.2 -2.5 73.3 36.1 39.8 216.5 78.9 95.6 -12.5 51.3 77.9 30.2 68.0 74.3 64.3 13.2 79.9 53.0 50.8 80.6 68.5 38.1 86.9 1 38.0 89.0 1.7 84.8 18.6 20.1 19.0 17.8 18.9 18.7 16.7 15.2 01-. 0821252313236720 6.7 19 2.3 0.4 1.3 -1.0 16 -1.2 2.3 0.0 -0.6 2.5 -0.0 -0.2 13 -0.1 2.1 -0.9 -0.6 10 2.6 -0.3 -0.2 -0.8 0.2 8 -0.9 9.6 0.1 -1.3 -0.1 -0.3 0.3 -4.1 -0.4 0.0 -0.1 -0.3 -1.2 5.6 -0.4 -0.3 0.1 -0.6 2.9 -0.1 -0.0 -0.5 0.1 3.5 -0.0 -0.1 -1.2 -0.0 -0.1 -0.2 -0.5 -2.2 -0.4 084140-. 71-65-69376. 19 63.6 3.7 16 1.1 -26.9 -0.4 -66.5 -0.1 87.1 0.7 -0.6 8 -8.4 4.0 0.9 12.7 6 4.1 0.3 -0.2 0.3 -0.8 0.4 35.0 -1.7 3.7 0.1 9.1 -11.7 -0.1 5.1 17.4 2.2 11.1 0.6 -9.1 -5.7 -0.5 -1.6 ...... 09-. . 21 0.7 -4.1 10.9 18 8.8 2.3 17 -1.1 1.5 -1.6 -4.1 15 4.3 7.1 0.5 13.6 3.9 3.2 -7.2 9.3 14 -19.8 1.1 20.5 -3.3 0.5 -18.8 11.9 1.4 4.2 6.9 4.8 -2.7 0.4 6 -20.1 3.5 5 5.6 -13.2 -3.5 -14.3 -4.6 0.3 11.2 4 2.7 -11.5 11.1 2.5 14.5 -2.6 5.7 1.4 -4.0 7.5 -11.6 1 11.4 -8.4 8.9 7.0 0.2 30.1 3.6 7.0 -6.1 4.0 0.2 5.9 2.2 13.2 0.2 5.3 5.1 -1.7 0.2 1.9 -1.7 1.6 0.1 1.1 3.1 1.4 0.2 0.9 0.1 0.1 0.1 . . . 511. . 542. 6726 26.7 24.1 25 -0.4 15.4 -4.5 24 7.4 16.0 4.6 -19.8 13.5 4.5 20 -16.6 15.1 47.8 4.6 -2.2 7.3 33.2 17 0.6 48.5 36.5 44.2 7.8 -6.1 1.2 0.2 -1.0 8.6 14.2 -0.0 3.2 -2.8 10 0.2 2.9 1.0 18.4 0.6 7 1.8 14.4 21.3 4.0 1.3 5.7 1.1 15.3 -1.3 3.8 7.4 0.0 -0.5 4 1.5 0.6 -0.3 131.9 27.4 5.1 0.4 0.4 -38.9 -0.1 0.5 -49.8 -0.2 0.2 141.8 0.8 20.1 -0.0 -6.4 0.0 2.1 1.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

8 F23705 enue rmnnUS enues121...... 38 37 1.7 4.7 3.5 9.6 1.0 2.7 2.9 7.8 0.7 1.8 2.0 30 5.5 -0.6 9.1 1.8 0.7 28 -9.6 10.4 21.4 -0.6 25 1.4 1.2 9.8 12.1 2.1 5.4 0.7 1.2 23 -3.3 0.7 0.1 0.8 -1.6 0.0 -1.9 1.2 0.5 -0.1 1.9 0.6 38FA263076005Reinsuredfromnon-U.S.reinsurers 10.7 -0.1 37FA263176005Reinsuredtonon-U.S.reinsurers 0.2 17 -0.2 36FA513176025ReinsuredtoU.S.reinsurers -9.7 -2.2 0.1 35FA513176015Directreserve 0.5 -10.0 30.0 34FA513200003Securitieslending(3) -0.0 -0.0 -1.6 13 3.2 Memo: -0.2 0.5 0.3 33FA517005005Discrepancy 8.0 -0.0 9.5 12 32FA513193005Other 66.4 -0.3 -1.0 31FA513176005Policypayables 30FA513194733Investmentbyparentcompanies -0.4 10 -2.9 0.4 -7.5 29FA513190005Miscellaneousliabilities 6 10.8 54.2 28FA513192003ForeigndirectinvestmentinU.S. 17.9 1.4 1.8 27FA513178005Taxespayable 1.5 26FA513170005Tradepayables 44.9 7.6 2.4 1.0 9.3 25FA513169333Loans(otherloansandadvances) 4 42.7 -8.7 -2.5 2.7 -0.4 24FA513164103Corporateequityissues 34.7 8.2 8.5 0.3 2.4 23FA512151003Securityrepurchaseagreements 56.6 6.2 3 2 17.8 22FA514190005Netincreaseinliabilities 1.5 12.2 2.7 150.5 30.8 20.2 34.9 21FA513093005Other 16.8 -62.4 0.6 30.7 20FA513076005Policypayables(2) 5.6 19FA513092403EquityinFHLB 8.3 99.4 18FA513090005Miscellaneousassets 30.6 -0.0 113.2 4.4 17.4 1 17FA513092003U.S.directinvestmentabroad 30.2 0.0 47.8 16FA513070005Tradereceivables -43.1 -1.7 29.9 69.8 -0.1 15FA513064205Mutualfundshares 49.5 4.3 14FA513064105Corporateequities 30.3 80.6 117.2 13FA513065505Loans(commercialmortgages) -7.3 28.4 94.7 64.9 12FA513063005Corporateandforeignbonds 26.0 72.5 11FA513062005Municipalsecurities 68.3 10FA513061705Agency-andGSE-backedsecurities 25.3 9FA513061105Treasurysecurities 70.9 8FA513069105Openmarketpaper 7FA514022005Debtsecurities 76.5 6FA512051005Securityrepurchaseagreements 17.3 5FA513034005Moneymarketfundshares 67.3 4FA513020005Checkabledepositsandcurrency 3FA514090005Netacquisitionoffinancialassets 2FA515013005Fixednonresidentialinvestment 1FA516000105Grosssavinglessnetcapitaltransferspaid(1) Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.115 Property-CasualtyInsuranceCompanies (3) Liabilityforsecuritieslendingcollateral,includedinline32. (2) Policypayablesduefromreinsurers. (1) NetcapitaltransferspaidfromtableF.5,line53. 0621 0821 2019 2019 2018 2017 2016 1. 1. 97-. 40-. 72-45-4124 -14.1 -14.5 -7.2 -6.1 -4.0 -7.9 -9.7 -12.8 -18.9 464. 803. 235. 806. 1735 31.7 64.6 18.0 52.9 33 -184.0 12.3 31 162.5 37.7 37.0 21.3 76.9 29 38.1 28.0 20.5 21.5 69.2 49.6 57.6 62.9 72.0 34.6 65.5 14.7 110.6 -17.9 44.0 64.7 -1.4 44.1 79.1 38.6 22 40.5 75.8 20 42.2 9.0 61.0 43.9 111.1 18.3 50.6 70.6 18 69.0 5.1 99.1 -62.6 15.0 66.9 33.1 3.5 74.4 28.2 51.2 10.5 -23.2 102.0 8.8 -6.1 8 69.1 9 22.4 -10.9 37.2 21.4 7 2.8 29.1 20.2 13.3 69.9 26.4 -4.7 -26.2 30.7 -11.5 -1.7 28.1 -3.8 5.4 11.2 -7.0 48.8 0.5 7.9 29.7 -2.2 43.7 34.0 -8.9 33.0 11.3 11.1 45.4 3712-. . 114927-. . 15 1.2 -5.8 2.7 4.9 -1.1 0.1 5 -1.1 -12.1 1.2 -4.5 1.6 -3.7 14.5 -1.6 2.5 2.7 4.0 -6.8 . 586950177124874336 4.3 8.7 34 -0.3 2.4 -0.4 7.1 0.5 1.7 -1.3 32 1.0 5.0 1.6 -8.3 6.9 26 0.1 27 5.0 51.1 10.6 15.8 0.9 45.7 0.2 3.9 8.1 2.0 48.8 4.0 -3.6 34.3 0.3 -5.5 5.3 -3.0 4.1 1.6 34.7 19 -0.2 0.5 2.8 6.9 21 59.5 -0.7 0.0 8.4 -81.0 4.9 0.0 1.0 16 28.0 35.5 1.0 -0.1 6.8 13.3 -10.9 14 0.1 -26.8 -5.8 -7.0 -16.6 -16.9 0.0 24.1 13.6 11 25.4 0.4 14.5 0.0 -8.1 -5.5 5.2 -0.5 0.0 6.2 -10.1 17.8 -2.7 0.0 -1.8 9.4 -11.8 20.1 -3.8 3.7 9.8 -4.7 2.9 -38.9 -9.9 1.8 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 29 2020

Transactions Transactions 7 F53705 enue rmnnUS enues1...... 47 3.7 46 0.5 58.8 1.5 9.5 0.9 25.0 14.7 0.7 12.0 0.9 40 15.3 -43.2 0.3 37 -23.7 81.2 8.9 3.4 38 0.1 36.2 35 23.4 11.2 -1.6 12.2 17.4 1.0 8.2 22.0 8.7 1.7 43.5 4.2 16.8 21.4 1.8 30 -1.0 1.7 76.0 -3.3 1.1 13.3 10.2 12.8 7.8 28 6.2 -11.0 15.7 10.0 38.4 47FA543176035Reinsuredfromnon-U.S.reinsurers 33.8 2.5 46FA543076035Reinsuredtonon-U.S.reinsurers 3.1 0.1 4.1 -13.0 45FA543176025ReinsuredtoU.S.reinsurers 44FA543176015Directreserve -9.6 1.3 12.0 4.1 7.0 43FA543200073Securitieslending(6) -1.5 6.8 7.5 4.8 24 10.2 Memo: -2.1 21 6.4 -0.5 42FA547005005Discrepancy -1.6 -6.5 41FA543193005Other 6.5 3.5 -11.1 2.7 40FA593095005Unallocatedinsurancecontracts 39FA543195005Otherreserves(5) -0.7 10.1 -2.8 38FA673090543Fundingagreementsbackingsecurities(4) -0.3 37FA543194733Investmentbyparentcompanies -6.1 5.8 36FA543190005Miscellaneousliabilities 0.2 4.5 35FA543192073ForeigndirectinvestmentinU.S. 1.5 34FA543178075Taxespayable -3.4 1.9 33FA543150005Pensionentitlements(3) 32FA543140005Lifeinsurancereserves -11.7 31FA543170005Tradepayables 1.8 12 10 2.7 316.2 22.0 30FA543169373Loans(otherloansandadvances) 6 -0.3 23.4 -11.9 13.9 -18.3 29FA543164173Corporateequityissues 186.5 5 1.7 2.6 28FA542151073Securityrepurchaseagreements 186.6 134.6 27FA544190005Netincreaseinliabilities 0.2 4.0 154.0 -13.8 4 190.8 137.6 26FA543093005Other 21.7 11.1 5.3 25FA543095105Otherreserves -44.3 123.7 24FA543077073Deferredandunpaidlifeins.premiums 18.5 2 -1.3 23FA543092473EquityinFHLB 38.2 4.6 73.6 23.3 22FA543090005Miscellaneousassets -11.9 1.6 27.8 92.8 3 4.1 23.2 21FA543092073U.S.directinvestmentabroad 3.6 1179.2 20FA543050005Pensionentitlements -5.6 6.7 19FA543040005Lifeinsurancereserves -217.5 23.1 0.2 1 6.7 18FA543070005Tradereceivables 375.9 4.0 4.6 11.3 22.9 -0.4 17FA543064205Mutualfundshares 242.2 3.6 -0.4 16FA543064105Corporateequities 18.1 22.6 122.0 -0.4 -13.4 15FA543065005Mortgages 18.6 17.6 23.0 130.6 14FA543069005Otherloansandadvances 125.1 13FA544023005Loans 15.5 -7.7 21.5 101.3 12FA543063005Corporateandforeignbonds 22.6 19.5 11FA543062005Municipalsecurities 152.8 10FA543061705Agency-andGSE-backedsecurities 18.7 19.0 9FA543061105Treasurysecurities 8FA543069105Openmarketpaper 8.2 7FA544022005Debtsecurities 3.4 6FA542051075Securityrepurchaseagreements 5FA543034005Moneymarketfundshares 14.8 4FA543020005Checkabledepositsandcurrency 3FA544090005Netacquisitionoffinancialassets 2FA545013005Fixednonresidentialinvestment 1FA546000105Grosssavinglessnetcapitaltransferspaid(2) Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.116 LifeInsuranceCompanies(1) 30 (6) Liabilityforsecuritieslendingcollateral,included inline41. (5) Includesreservesforaccidentandhealthpolicies, policydividendaccumulation,andcontractclaims. (4) Equaltofundingagreement-backedsecurities (FABS)issuedbydomesticissuersofasset-backedsecurities. (3) Annuityreservesheldbylifeinsurancecompanies, excludingunallocatedcontractsheldbypensionfunds,whichareshownonline40. (2) NetcapitaltransferspaidfromtableF.5,line54. (1) Additionaldetailonthefinancialassetsandliabilitiesheldinlifeinsurer’sgeneralseparate accountsisavailableontablesF.116.gandF.116.s.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 0. 056. 454. 15103-. 6. 44 366.2 -6.7 180.3 81.5 43.0 74.5 69.9 60.5 100.0 27 1028.6 -84.6 350.2 180.2 67.0 128.2 96.9 118.8 164.1 7 375.4 4.5 185.0 167.5 141.4 124.6 89.1 77.0 135.7 2. 59-4511-23891. 41-0316 -20.3 17 -4.1 -140.3 -91.1 12.0 -94.9 8.9 -101.0 -12.3 -59.1 1.1 -86.6 -87.0 -44.5 -75.9 -5.9 -44.4 -24.5 871. 881. 441. 301. 0645 60.6 12.4 33.0 18.4 14.4 39 19.6 3.5 68.8 27.9 18.0 36 11.5 475.7 38.7 -21.9 12.1 158.0 20.1 32 123.3 116.8 31 97.8 17.9 -0.2 81.5 -10.2 26.3 75.1 83.6 30.8 17.6 32.5 -3.1 21.8 16.0 19.5 39.7 11.9 31.7 61.2 26 13.6 425.6 43.3 15.2 -98.6 43.4 91.1 22 37.5 438.9 81.8 19 66.7 19.6 20.5 -92.6 18 68.7 -21.0 2.8 98.6 9.5 -12.5 66.1 12.6 19.9 41.1 -12.6 15 6.6 41.1 13.4 14.9 -22.4 13 5.0 63.6 50.9 4.2 21.7 48.0 37.4 60.0 6.7 -16.4 6.3 9 67.5 34.7 16.4 -36.2 44.6 -0.7 27.6 58.8 34.2 8.2 11.1 57.6 51.1 43.8 7.4 24.7 47.5 61.4 -18.1 61.5 41.2 -23.0 45.8 34.8 -6.4 37.6 -28.8 -0.8 20.5 1612-. . 05-. . 286543 6.5 -2.8 1.0 -0.2 10.5 2.1 -6.4 1.2 33 231.3 -1.6 -51.1 81.4 29.1 29 -39.9 -22.5 25 4.9 -0.1 -10.7 -17.1 5.9 43.2 -16.6 -1.0 2.8 -23.4 -8.5 20 2.3 -17.0 34.8 -11.9 4.7 2.3 -16.2 12.2 3.3 -6.3 7.6 4.5 6.3 3.9 7.7 -5.3 100.1 7.8 -3.1 . . 4. 67-50-93-02179-6. 42 -169.3 41 515.7 127.9 -67.1 -30.2 130.1 -69.3 34 82.1 10.1 -55.0 2.8 3.6 -6.7 -41.4 37.0 -0.8 1.4 -18.2 -3.7 -0.2 7.2 2.7 3.4 0.4 -2.9 23 3.2 2.0 0.7 1.0 1.2 0.0 0.4 0.6 14 22.5 0.5 -13.5 11 0.6 0.4 7.5 -0.8 0.4 8 -7.0 -8.0 -0.5 -1.2 -8.0 -3.4 -3.6 -10.1 0.8 0.0 2.1 -1.0 4.6 -1.5 -2.5 2.8 -4.4 6.1 -4.9 8.8 -8.6 2.2 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

9 F53903 oeg ietivsmn nUS . . . 001. . 6887-. 29 -1.6 8.7 16.8 24 76.0 1.7 10.2 12.8 22 15.7 38.4 10.0 0.1 -13.0 4.1 -9.6 19 4.1 -1.6 7.0 -1.5 7.5 -11.1 4.8 -2.1 -0.7 6.4 -6.5 -6.1 6.5 2.7 4.5 10.1 -0.3 -3.4 0.2 30FA543190075Miscellaneousliabilities -11.7 10 8 29FA543192073ForeigndirectinvestmentinU.S. 2.7 201.1 8.9 28FA543178075Taxespayable 4 53.8 27FA543150075Pensionentitlements(1) -11.9 13.9 26FA543140075Lifeinsurancereserves -3.8 3 25FA543170075Tradepayables 137.5 97.7 2.6 -12.4 153.5 24FA543169373Loans(otherloansandadvances) -12.4 4.0 -10.8 130.4 2 23FA543164173Corporateequityissues 22.4 181.9 118.8 -0.4 5.3 22FA542151073Securityrepurchaseagreements -32.3 16.4 116.9 -6.9 21FA544190075Netincreaseinliabilities 40.2 4.6 62.5 0.7 4.4 20FA543090075Miscellaneousassets 29.3 88.8 1 4.1 19FA543092073U.S.directinvestmentabroad 6.8 1286.2 7.3 18FA543050075Pensionentitlements -4.3 -110.3 17FA543040075Lifeinsurancereserves 0.2 1.1 16FA543070075Tradereceivables 420.9 7.9 8.2 -0.4 302.9 15FA543064275Mutualfundshares 5.8 -3.7 14FA543064175Corporateequities 204.7 -0.4 -10.9 13FA543065075Mortgages 7.0 204.6 12FA543069075Otherloansandadvances 252.3 11FA544023075Loans -11.8 163.1 10FA543063075Corporateandforeignbonds 9FA543062075Municipalsecurities 188.4 8FA543061775Agency-andGSE-backedsecurities 7FA543061175Treasurysecurities 6FA543069175Openmarketpaper 5FA544022075Debtsecurities 4FA542051075Securityrepurchaseagreements 3FA543034075Moneymarketfundshares 2FA543020075Checkabledepositsandcurrency 1FA544090075Netacquisitionoffinancialassets Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.116.g LifeInsuranceCompanies:GeneralAccounts A4038 Croaeadfrinbns401. . 882. 314. 3. 1. 9 115.1 -30.4 7 49.0 13.2 33.1 -14.5 2 23.6 9.0 14.1 (1) Annuityreservesheld bylifeinsurancecompanies,excludingunallocated contractsheldbypensionfundswhich areincludedinmiscellaneousliabilities(line23). 18.8 11.1 -12.0 23FA543190085Miscellaneousliabilities 22FA543150085Pensionentitlements (1) 6.8 11.6 -2.0 21FA543140085Lifeinsurancereserves 20FA543170085Tradepayables 5.5 -1.5 1 11.2 19FA544190085Netincreaseinliabilities -107.1 4.0 -1.3 -2.8 -107.2 18FA543090085Miscellaneousassets -45.0 17FA543050085Pensionentitlements -4.2 -0.6 16FA543040085Lifeinsurancereserves -60.8 15FA543070085Tradereceivables 3.3 3.5 -82.6 14FA543064385Mutualfundshares 10.6 13FA543064185Corporateequities -73.9 -127.2 4.1 12FA543065083Mortgages 11FA543069483Otherloansandadvances -61.8 10FA544023085Loans -35.6 9FA543063085Corporateandforeignbonds 8FA543062083Municipalsecurities 7FA543061783Agency-andGSE-backedsecurities 6FA543061183Treasurysecurities 5FA543069183Openmarketpaper 4FA544022085Debtsecurities 3FA543034385Moneymarketfundshares 2FA543020083Checkabledepositsandcurrency 1FA544090085Netacquisitionoffinancialassets Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.116.s LifeInsuranceCompanies:SeparateAccounts (1) Annuityreservesheldbylifeinsurancecompanies,excludingunallocatedcontractspensionfunds,whichareincludedinmiscellaneousliabilities(line30). 0621 0821 2019 2019 2018 2017 2016 9. 8. 2. 0. 4. 3. 9. 7114. 21 1142.0 27.1 394.6 238.9 145.2 201.4 221.0 189.0 198.0 5 251.2 61.8 117.3 120.2 101.8 100.3 92.2 72.6 120.4 3. 3. 184-42-73-30-16-48-7022 -47.0 -64.8 -11.6 19 -113.5 -23.0 -111.6 -37.3 -44.3 -34.2 13 -58.7 -34.8 14 -108.4 -78.2 -139.7 -10.8 -31.9 -86.8 -73.2 6.8 -32.6 -94.6 -124.0 11.2 -70.2 -100.4 -59.6 -33.9 -8.5 -85.4 -0.3 -87.4 -54.0 -75.6 -10.9 -45.3 -25.8 405. 511861781041065756330 526.3 5.7 27 26 278.2 139.2 25 180.6 97.8 13.7 18.9 140.4 -10.1 93.0 107.8 85.2 30.9 52.1 108.6 44.5 21.9 15.1 -2.6 34.0 12.0 57.0 39.1 45.7 13.7 64.0 151.5 17 41.9 20.5 14.1 30.9 16 68.7 64.4 2.8 37.5 24.1 -12.5 80.3 12.6 19.7 19.9 13 6.6 36.5 13.4 11 5.0 59.0 54.0 4.2 45.7 50.4 6.7 6.3 7 62.7 25.5 -36.2 50.0 -0.8 22.9 50.2 34.2 16.9 11.1 53.0 45.0 43.8 5.4 24.8 46.1 55.6 -18.8 55.8 39.5 -25.4 44.2 33.8 -5.5 36.7 -24.7 -0.6 12.7 811. 01-. 4. 2. 2. 95-0. 18 -107.2 69.5 -26.8 -24.2 -44.7 -6.5 -0.1 10.3 4 18.1 124.2 -57.3 67.7 47.3 39.6 24.3 -3.1 4.5 15.3 63-62-19-70-34-66-71-07-2523 -22.5 -10.7 18 -17.1 35.0 20 -16.6 546.1 4.8 -23.4 -162.1 12.2 125.4 -17.0 90.3 7.6 -11.9 32.1 -16.2 6.4 -6.3 21.4 7.8 48.2 97.2 -26.7 7.8 -1.7 -3.0 010011-. 01-. 01-. 0020 -0.0 23 -50.6 -0.1 -27.6 -0.1 -22.6 17 15 -0.1 -0.0 -23.6 -0.1 -0.1 -26.3 0.0 -0.1 -0.0 -25.0 -0.0 -0.1 -18.2 -0.0 11 0.0 1.1 0.0 -17.3 -0.1 -2.8 0.0 0.0 -5.2 -0.1 0.0 -4.8 -0.1 2.9 5 -4.4 0.0 -4.0 -0.0 3 -4.1 0.0 -3.8 -0.1 37.0 -4.6 -0.7 -0.1 -1.5 -0.2 -0.5 -0.7 -0.1 -0.5 2.1 -0.1 -1.4 -12.6 -2.7 -3.2 -4.7 5.6 -2.4 -2.2 -2.6 . . 290427-. 08361. 28 10.1 3.6 -0.8 -3.7 2.7 0.4 -2.9 2.0 1.0 15 14 -0.6 14.5 -4.4 6.7 12 22.5 -0.3 5.2 -8.3 -0.6 9 -2.3 12.3 -4.8 0.5 -3.7 -2.6 6 -0.8 -4.0 -1.2 1.5 2.8 -3.8 -4.2 0.4 9.5 1.1 -6.3 -9.4 -0.3 5.1 -1.7 0.2 2.6 0.9 1.3 -3.2 4.7 -1.0 -2.2 3.0 -3.0 7.3 -2.2 6.4 -3.9 4.6 . 2. . 1. 1. 1. 1. 1. 1. 21 -15.9 16 -19.2 0.0 -10.1 0.0 -12.0 0.0 -14.5 12 4.6 -14.0 0.0 10 4.6 1.4 -3.1 0.0 8 -8.3 9.6 -21.0 5.4 0.0 1.6 4.8 6 9.2 0.1 -5.4 0.0 4.8 8.6 3.3 -8.7 0.0 4.5 6.1 2.0 2.9 0.0 1.4 5.8 0.8 2.6 5.7 1.7 2.4 2.2 1.6 1.0 -0.9 -0.3 0.9 -4.0 -1.2 -0.2 2.4 7.9 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 31 2020

Transactions Transactions 7 F54905 eie otiuinpas5. 1. 5. 4. 7. 2. 1. 6. 2327 92.3 29 ND 161.8 28 25 ND -126.4 ND 114.0 61.8 319.4 123.9 617.2 3.9 461.6 176.7 900.6 221.1 144.1 613.2 -79.7 20 159.5 153.4 -43.2 518.5 -35.1 290.4 216.7 8.9 662.4 42.5 22 24 412.6 51.1 328.3 858.2 353.8 11.2 -21.7 443.5 179.6 899.3 424.3 -21.4 22.0 193.4 -147.5 509.1 377.2 416.4 43.5 388.2 13 328.3 239.8 438.7 21.4 194.2 41.6 407.1 7 11 -3.3 22.8 1.5 170.4 403.0 140.8 29FA543150015Annuitiesatlifeinsurancecompanies(8) 7.8 18.3 139.5 477.5 110.0 28FA893131573Individualretirementplans(IRAs)(7) 2.2 27FA594090055Definedcontributionplans 297.1 337.1 -2.6 57.6 33.8 4 26FA594190045Definedbenefitplans -0.5 25FA153050015Householdretirementassets(6) 48.7 87.5 27.4 2 -1.2 Memo: 15.5 0.8 81.2 58.3 1.4 24FA594190005Netincreaseinpensionentitlements(liabilities) -0.3 45.0 0.8 25.3 23FA593093005Other -6.5 0.5 -36.2 46.8 22FA593073005Claimsofpensionfundonsponsor(5) 0.8 21FA573074005Contributionsreceivable 3 9.5 34.2 -0.0 20FA593095005Unallocatedinsurancecontracts(4) 353.8 0.8 19FA593090005Miscellaneousassets 10.9 424.2 4.5 0.2 18FA593064205Mutualfundshares 0.7 377.1 17FA593064105Corporateequities 0.9 0.9 388.1 0.8 16FA593065005Mortgages 438.6 15FA313169003Otherloansandadvances -5.6 14FA594023005Loans 0.7 407.0 -0.8 13FA593063005Corporateandforeignbonds 402.9 0.7 12FA593062045Municipalsecurities 477.4 11FA593061705Agency-andGSE-backedsecurities 0.5 10FA593061105Treasurysecurities(3) 337.0 9FA593069105Openmarketpaper 8FA594022005Debtsecurities 7FA592051005Securityrepurchaseagreements 6FA593034005Moneymarketfundshares 5FA593030005Timeandsavingsdeposits 4FA593020005Checkabledepositsandcurrency 3FA594090005Netacquisitionoffinancialassets(2) 2FA595013005Fixednonresidentialinvestment 1FA596330005Grosssaving Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.117 PrivateandPublicPensionFunds(1) 32 (8) AnnuitiesheldinIRAsareexcluded.Theyincludedline28. (7) IRAassetsarenotincludedabove.SeememoitemontableF.227forasectoraldistributionofaccounts. (6) Households’retirementassetsintax-deferredaccounts,includingemployersponsoredpensionplans,IRAs,Rothandannuities. (5) Unfundeddefinedbenefitpensionentitlements. (4) Includesproductssoldbylifeinsurancecompanies,suchasvariableannuitiesandguaranteedinvestmentcontracts;seriesbegins1985:Q4. (3) Includesbothmarketableandnonmarketablegovernmentsecurities. (2) Includesclaimsonsponsor(i.e.,unfundedpensionentitlements). (1) Privatepensionfunds,stateandlocalgovernmentemployeeretirementfederalfundsdefinedbenefitplanscontributionplans.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 226-0. 176-0. 247-9. 5. 303-7. 17 -476.9 -310.3 -52.3 -198.0 -264.7 -206.3 -147.6 -108.5 -212.6 8. 6. 4. 6. 6. 6. 6. 6. 6. 26 261.6 262.5 263.2 264.3 262.0 263.0 249.6 19 229.2 260.8 347.9 285.9 -91.2 522.7 460.3 309.9 100.1 10 284.7 304.1 8 403.3 159.8 694.1 1303.2 245.8 -62.7 1436.5 -768.1 60.7 158.1 -638.9 426.9 276.0 33.5 555.9 170.0 115.0 156.2 3. 243. 54-591. 165131-6. 18 -261.1 123.1 -146.5 17.8 -15.9 -5.4 34.3 42.4 -32.1 371826. 377. 623. 5. 8. 23 -88.0 151.1 33.3 76.2 74.3 83.7 68.4 118.2 9 -17.1 63.7 26.1 6 -4.8 100.5 -13.8 29.5 17.0 -2.8 6.1 -13.9 19.0 0.3 7.9 1.6 2.1 11.2 -2.4 15.5 0233081221010718855 8.5 1.8 0.7 0.1 2.1 1.2 0.8 3.3 -0.2 . 921. 061. . 18833. 21 32.2 8.3 16 11.8 9.9 8.2 -2.2 14.2 8.0 15 12 14 -0.6 -3.1 10.6 9.3 0.8 -29.0 0.0 12.2 -31.2 4.6 -774.6 19.2 -0.1 -766.6 5.7 6.5 2.8 8.8 -0.2 861.3 865.9 8.1 -3.8 15.8 18.6 -3.2 -1.0 -151.7 -143.5 151.7 1 6.8 0.8 148.5 0.0 0.7 6.8 0.7 0.7 0.2 0.7 0.6 0.6 0.6 0.6 0.6 0.5 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

3 F54905 eie otiuinpas()6. 0. 4. 1. 1. 0. 0. 3. 0. 23 106.8 130.0 101.0 102.2 118.1 17 -34.5 112.8 21 64.9 146.6 -2.5 19 -4.9 203.2 88.1 12.4 -31.9 67.6 59.1 9.7 -49.0 12 60.2 147.0 -53.1 8.4 7 37.9 76.2 -50.3 11 0.2 7.0 117.2 60.2 70.9 -46.1 16.9 0.1 -4.5 52.9 -77.0 91.8 4 25.0 17.2 -79.2 0.1 -5.7 64.4 156.0 22.5 56.0 23FA574090055Definedcontributionplans(6) 41.1 1.9 2 53.8 9.4 0.1 22FA574090045Definedbenefitplans(5) 0.4 37.6 Netacquisitionoffinancialassets 83.0 3.2 0.1 0.4 25.5 3 Memo: 70.0 1.7 64.8 0.1 32.2 21FA574190005Netincreaseinpensionentitlements(liabilities) 0.4 17.6 88.0 1.3 24.9 0.1 20FA573093005Other 0.3 19FA573073005Claimsofpensionfundonsponsor(4) 59.0 2.0 10.8 18FA573074005Contributionsreceivable 0.4 17FA573095005Unallocatedinsurancecontracts(3) 0.3 60.2 16FA573090005Miscellaneousassets 2.3 -0.1 76.1 0.4 15FA573064205Mutualfundshares 4.7 14FA573064105Corporateequities 70.8 0.3 13FA573065005Loans(mortgages) -2.7 91.8 0.3 12FA573063005Corporateandforeignbonds 155.9 11FA573061705Agency-andGSE-backedsecurities 0.3 10FA573061105Treasurysecurities 41.1 9FA573069105Openmarketpaper 8FA574022005Debtsecurities 7FA572051005Securityrepurchaseagreements 6FA573034005Moneymarketfundshares 5FA573030005Timeandsavingsdeposits 4FA573020005Checkabledepositsandcurrency 3FA574090005Netacquisitionoffinancialassets(2) 2FA575013005Fixednonresidentialinvestment 1FA576330005Grosssaving Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.118 PrivatePensionFunds(1) (6) AdditionaldetailondefinedcontributionplansisavailabletableF.118.c. (5) AdditionaldetailondefinedbenefitplansisavailabletableF.118.b. (4) Unfundeddefinedbenefitpensionentitlements. (3) Includesproductssoldbylifeinsurancecompanies,suchasvariableannuitiesandguaranteedinvestmentcontracts;seriesbegins1985:Q4. (2) Includesclaimsonsponsor(i.e.,unfundedpensionentitlements). (1) Privatedefinedbenefitplansandcontribution(including401(k)typeplans). 0621 0821 2019 2019 2018 2017 2016 135-31-84-88-4. 9. 7. 4. 10614 -130.6 -49.8 -71.5 -91.6 -142.3 -88.8 -98.4 -53.1 -113.5 0. . 672. 56955. 34-8916 -28.9 23.4 55.7 9.5 15.6 26.0 -6.7 8.6 105.2 2. 4. 5. 4. 4. 4. 4. 4. 4. 22 -42.0 -42.0 -42.0 -42.0 -42.0 -42.0 -54.8 -47.2 -26.6 107. 265. 334. 044. 2. 20 -21.6 49.5 80.4 44.6 43.3 54.5 62.6 10 122.6 74.4 22.7 31.0 8 54.7 372.0 47.6 78.5 53.9 141.3 123.9 44.7 157.5 59.9 125.3 46.9 176.6 22.1 145.7 50.0 194. 10043. 19-772. 25915 -215.9 29.4 -77.7 9 -14.8 11.9 1.0 38.1 5 1.4 0.4 7.9 1.0 11.0 0.7 41.1 1.7 1.0 -1.9 1.3 0.7 1.4 1.4 3.8 1.0 -0.5 1.1 3.6 -0.7 . 921. 061. . 18833. 18 32.2 8.3 13 8.1 11.8 8.2 2.0 14.2 3.1 10.6 1.8 6 12.2 34.8 2.0 19.2 2.0 2.2 8.8 3.8 2.5 2.2 1 4.4 0.3 2.3 0.3 0.3 2.6 0.3 3.2 0.3 0.6 0.3 4.4 0.3 0.3 0.2 0.2 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 33 2020

Transactions Transactions 5 F53945 nloae nuac otat 2 2514-. 03-. 02-. 02-. 15 -0.9 17 -0.2 -4.9 19 -42.0 -0.3 -31.9 -42.0 10 -49.0 40.8 -0.2 -42.0 -53.1 8.4 -42.0 9 -0.5 5 -50.3 35.8 -42.0 0.2 10.8 -0.3 -46.1 8.4 -42.0 0.1 27.0 -0.4 -77.0 -54.7 Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates 10.8 43.6 -79.2 2 F.118.c PrivatePensionFunds:DefinedContributionPlans(1) 0.1 1.4 -47.2 0.2 15.0 56.0 22.4 -26.5 0.1 -2.5 31.6 -0.1 (3) Unfundeddefinedbenefitpensionentitlements. 46.8 (2) Includesproductssoldbylifeinsurancecompanies,suchasvariableannuitiesandguaranteedinvestmentcontracts;seriesbegins1985:Q4. 0.1 16.4 -0.1 (1) Includesclaimsonsponsor(i.e.,unfundedpensionentitlements). 52.9 21.8 0.1 1 -0.1 8.2 19FA574190043Netincreaseinpensionentitlements(liabilities) -42.0 18.9 0.1 18FA573093043Other -0.1 -42.0 17FA573073005Claimsofpensionfundonsponsor(3) 3.5 16FA573074043Contributionsreceivable -0.1 0.4 -42.0 15FA573095405Unallocatedinsurancecontracts(2) 14FA573090045Miscellaneousassets -42.0 -0.1 -0.1 13FA573064243Mutualfundshares -42.0 0.2 12FA573064143Corporateequities -42.0 11FA573065043Loans(mortgages) -0.5 -54.8 10FA573063043Corporateandforeignbonds -47.2 9FA573061743Agency-andGSE-backedsecurities 8FA573061143Treasurysecurities -26.6 7FA573069143Openmarketpaper 6FA574022045Debtsecurities 5FA572051043Securityrepurchaseagreements 4FA573034043Moneymarketfundshares 3FA573030043Timeandsavingsdeposits 2FA573020043Checkabledepositsandcurrency 1FA574090045Netacquisitionoffinancialassets(1) Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.118.b PrivatePensionFunds:DefinedBenefitPlans 34 5 F53955 nloae nuac otat 2 19-. 4173891. 27-. 3. 15 -33.7 -2.3 18 12.7 106.8 10 10.0 130.0 9 106.3 81.4 101.0 8.9 29.5 5 102.2 0.0 8.5 49.4 7.3 118.1 0.0 14.3 25.9 112.8 -4.1 2 7.5 146.6 0.0 20.8 17.0 -7.0 203.2 31.4 2.0 6.0 0.0 11.9 67.6 36.2 3.3 9.1 0.0 (2) Includesproductssoldbylifeinsurancecompanies,suchasvariableannuitiesandguaranteed investmentcontracts;seriesbegins1985:Q4. 17.1 1.7 (1) Includes401(k)and403(b)typeplans. 10.4 0.0 1 9.4 106.8 6.0 18FA574090055Netincreaseinpensionentitlements(liabilities) 1.4 0.0 130.0 17FA573093055Other 7.3 2.1 101.0 16FA573074033Contributionsreceivable 0.0 15FA573095505Unallocatedinsurancecontracts(2) 102.2 14FA573090055Miscellaneousassets 2.4 0.0 118.1 13FA573064255Mutualfundshares 4.5 112.8 12FA573064133Corporateequities 146.6 11FA573065033Loans(mortgages) -2.2 203.2 10FA573063033Corporateandforeignbonds 67.6 9FA573061733Agency-andGSE-backedsecurities 8FA573061133Treasurysecurities 7FA573069133Openmarketpaper 6FA574022035Debtsecurities 5FA572051033Securityrepurchaseagreements 4FA573034055Moneymarketfundshares 3FA573030033Timeandsavingsdeposits 2FA573020033Checkabledepositsandcurrency 1FA574090055Netacquisitionoffinancialassets

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 2. 2. 1. 1. 2. 1. 1. 1. 3. 13 -38.8 12 -95.6 -10.6 -37.0 -13.6 -47.5 -11.3 -67.6 -24.7 -114.3 -15.1 -66.6 -12.3 -96.4 -27.4 -89.3 -25.3 -94.9 1. 62-. 2. 2. 2. 2. 1. 3. 12 -35.0 -12.8 -24.0 -24.0 -28.0 -22.2 -2.0 36.2 -18.6 588981711. . . . 4. 18 -46.8 5.0 6.4 5.3 14 -33.7 11.6 -22.0 7.1 -36.3 8.1 -42.6 -27.3 8.9 -32.0 6 15.8 109.8 -60.9 25.9 -51.7 53.2 77.7 77.7 120.4 69.3 112.1 110.8 18.2 516. 454. 183. 404. 5217 25.2 14 44.6 4.8 74.0 45.4 13 -177.1 39.3 92.0 39.9 31.8 52.0 -64.1 47.4 8 23.2 42.9 76.4 54.5 6 62.8 58.1 14.2 262.2 65.5 15.5 54.2 52.5 23.8 15.1 23.2 60.4 88.1 12.5 68.5 27.5 46.2 10.0 23.5 37.1 15.1 56.0 17.4 64.5 12.1 34.9 14.6 31.8 0940100915070806-297 -12.9 0.6 4 7.9 3 0.8 6.6 0.7 0.7 0.6 0.9 1.5 0.7 0.7 0.9 0.6 1.6 1.0 1.3 1.0 4.0 0.8 1.1 -0.9 0.9 4.4 3.7 -1.0 -0.9 . 7384731. . . . 8916 18.9 5.2 6.6 11 1.4 5.5 0.4 12.0 0.5 8 7.3 46.2 0.4 8.4 8.5 0.9 17.3 30.9 0.5 8.4 35.1 0.6 43.8 1.7 29.6 42.5 0.2 34.9 7.5 ...... 3316 13.3 3.1 5.2 11 6.7 2.7 1.6 2.2 7 2.6 3.3 -1.9 1.4 0.3 3.8 4 26.9 1.1 3 0.6 1.9 1.3 1.3 1.7 0.3 0.4 0.1 2.9 1.9 0.2 0.2 1.4 2.7 0.4 0.1 0.7 0.1 0.4 0.1 1.6 -0.2 0.2 2.1 0.4 0.2 -3.9 -0.1 5.5 0.2 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

3 F34905 eie otbto ln 6 24831. 291. 421. . . 13 8.3 8.2 15.4 14.2 13.9 7 12.9 -4.5 11 11.9 80.2 9 1.2 8.3 -0.6 5 81.0 1.6 -2.9 -29.0 12.4 10 89.0 -36.3 0.6 1.2 -774.6 2 88.8 -13.3 5.7 -0.2 1.5 1.3 86.3 -461.9 (6) AdditionaldetailondefinedcontributionplansisavailabletableF.119.c. -0.2 861.3 234.5 1.3 1.3 (5) AdditionaldetailondefinedbenefitplansisavailabletableF.119.b 86.3 15.8 1 (4) Unfundeddefinedbenefitpensionentitlements. 92.1 -0.2 80.2 (3) SuspendedinvestmentsintheThriftSavingsPlanGFundbyTreasury. 85.8 1.2 0.2 -151.7 (2) ComprisedprimarilyofnonmarketableTreasurysecurities. -37.2 -0.2 81.0 151.7 (1) Includesclaimsonsponsor(i.e.,unfundedpensionentitlements). 83.2 1.1 0.5 -50.0 -0.2 0.0 89.0 89.7 13FA344090055Definedcontibutionplans(6) 8.1 -0.1 12FA344090045Definedbenefitplans(5) 0.7 -0.2 88.8 Netacquisitionoffinancialassets -5.6 0.6 -0.2 86.3 Memo: 0.4 0.1 86.3 11FA344090005Netincreaseinpensionentitlements(liabilities) 85.8 10FA343073045Claimsofpensionfundonsponsor(misc.assets)(4) -0.0 83.2 9FA313169003Loans(otherloansandadvances)(3) 8FA343064105Corporateequities 89.7 7FA343063005Corporateandforeignbonds 6FA343062033Municipalsecurities 5FA343061705Agency-andGSE-backedsecurities 4FA343061105Treasurysecurities(2) 3FA344022005Debtsecurities 2FA343020033Checkabledepositsandcurrency 1FA344090005Netacquisitionoffinancialassets(1) Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.119 FederalGovernmentEmployeeRetirementFunds 0621 0821 2019 2019 2018 2017 2016 0. 8. 0. 1. 868-4. 3001961543 165.4 119.6 1340.0 -141.3 -866.8 112.9 309.3 -83.2 100.9 737. 397. 247. 367. 1912 71.9 72.8 73.6 74.7 72.4 73.4 73.9 74.8 77.3 4 172.9 117.8 1337.0 -143.8 -869.3 110.4 309.3 -84.3 99.8 5665-16-. 01-. 1. . 4. 8 -48.1 3.9 -14.4 -9.9 -0.1 -5.1 -21.6 6.5 -5.6 . 00-. . . . 0000-. 6 -0.0 0.0 -0.0 0.0 0.0 0.0 -0.0 -0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 35 2020

Transactions Transactions A4032 Croaeadfrinbns0706041112141505-. 5 -2.4 8 7 0.5 4 8.3 -0.6 -2.1 1.5 8.2 -29.0 0.4 1.4 -774.6 1 15.4 1.3 8.3 5.7 1.2 14.2 1.3 8.2 861.3 13.9 1.1 15.8 1.0 15.4 12.9 0.4 -151.7 14.2 11.9 1.0 151.7 0.6 13.9 8.3 0.0 -0.2 0.7 12.9 12.4 0.6 11.9 0.1 8.3 7 12.4 -2.2 8FA344090055Netincreaseinpensionentitlements(liabilities) 7FA313169003Loans(otherloansandadvances)(3) 0.7 10 5 71.9 -0.9 6FA343064125Corporateequities 0.1 72.8 0.2 5FA343063023Corporateandforeignbonds 9 2 -0.3 4FA343061723Agency-andGSE-backedsecurities 73.6 -36.3 -0.2 3FA343061155Treasurysecurities(2) 0.1 2FA344022025Debtsecurities 74.7 0.1 -13.3 -0.2 0.0 1FA344090055Netacquisitionoffinancialassets 72.4 -461.9 0.2 1 -0.2 234.5 71.9 0.1 73.4 Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates -0.2 92.1 -0.2 72.8 73.9 F.119.c FederalGovernmentEmployeeRetirementFunds:DefinedContributionPlans(1) 0.1 -37.2 -0.1 -0.2 73.6 74.8 0.1 -50.0 0.0 -0.2 74.7 (4) Unfundeddefinedbenefitpensionentitlements. 77.3 8.1 (3) ComprisedprimarilyofnonmarketableTreasurysecurities. 0.0 -0.2 72.4 (2) Includesclaimsonsponsor(i.e.,unfundedpensionentitlements). -5.6 DisabilityFund,andtheNationalRailroadInvestmentTrust. 0.2 0.1 73.4 (1) IncludesCivilServiceRetirementandDisabilityFund,RailroadBoard,judicialretirementfund,MilitaryForeign 73.9 10FA344190045Netincreaseinpensionentitlements(liabilities) -0.0 74.8 9FA343073045Claimsofpensionfundonsponsor(misc.assets)(4) 8FA343064135Corporateequities 77.3 7FA343063033Corporateandforeignbonds 6FA343062033Municipalsecurities 5FA343061733Agency-andGSE-backedsecurities 4FA343061165Treasurysecurities(3) 3FA344022045Debtsecurities 2FA343020033Checkabledepositsandcurrency 1FA344090045Netacquisitionoffinancialassets(2) Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.119.b FederalGovernmentEmployeeRetirementFunds:DefinedBenefitPlans(1) 36 (3) SuspendedinvestmentsintheThriftSavingsPlanGFundbyTreasury. (2) IncludesnonmarketableTreasurysecuritiesheldintheGfundandmarketableFfund. (1) ThriftSavingsPlan.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 60-5. 8. 14-5. 538093. 413 2 64.1 59.7 30.1 31.0 800.9 803.7 15.3 18.0 -851.8 -849.6 -1.4 0.8 184.5 184.7 -152.8 -151.6 16.0 16.8 4 3 108.7 105.7 87.7 88.6 536.1 536.3 -159.1 -159.4 -17.5 -17.2 111.8 112.1 124.7 124.6 68.5 68.4 83.8 84.0 4583-12-. . 96-3762-086 -50.8 6.2 -13.7 -9.6 2.2 -3.7 -21.2 8.3 -4.5 8 2.7 -2.3 -0.7 -0.4 -2.3 -1.4 -0.4 -1.8 -1.2 . 00-. . . . 0000-. 6 -0.0 0.0 -0.0 0.0 0.0 0.0 -0.0 -0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

3 F24905 eie otbto ln 5 2. . 501. 4676-. 35-2923 -22.9 23.5 -2.5 7.6 44.6 18.3 18 -8.7 -5.0 11.5 5.2 19 21 -1.2 369.6 208.7 -28.9 13 224.8 255.1 97.3 12.2 363.4 229.2 2.5 35.1 11 235.0 239.2 56.2 7 14.4 79.1 286.5 276.2 1.3 0.8 1.2 277.4 249.9 55.9 2.2 -29.1 149.8 225.4 -8.1 13.5 4 210.6 3.6 238.4 -0.5 31.6 32.3 24.4 23FA224090055Definedcontibutionplans(5) 2 246.7 206.3 22FA224090045Definedbenefitplans(4) 19.6 -1.3 0.4 13.8 -2.0 Netacquisitionoffinancialassets -1.3 1.3 -3.4 0.4 -25.4 Memo: 14.6 -54.5 0.4 -8.1 21FA224190005Netincreaseinpensionentitlements(liabilities) 0.4 3 8.7 20FA223093005Other 8.4 -0.1 208.7 0.4 19FA223073045Claimsofpensionfundonsponsor(3) -0.2 255.1 18FA223095505Unallocatedinsurancecontracts(2) -0.2 2.7 17FA223090005Miscellaneousassets 0.4 229.1 1.0 -1.3 16FA223064205Mutualfundshares 239.1 0.4 15FA223064145Corporateequities 276.2 -10.4 14FA223065043Loans(mortgages) 0.4 249.9 1.9 13FA223063045Corporateandforeignbonds 225.3 0.4 12FA223062043Municipalsecurities 238.3 11FA223061743Agency-andGSE-backedsecurities 0.3 10FA223061143Treasurysecurities 206.3 9FA223069143Openmarketpaper 8FA224022045Debtsecurities 7FA222051043Securityrepurchaseagreements 6FA223034005Moneymarketfundshares 5FA223030043Timeandsavingsdeposits 4FA223020043Checkabledepositsandcurrency 3FA224090005Netacquisitionoffinancialassets(1) 2FA225013005Fixednonresidentialinvestment 1FA226330005Grosssaving Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.120 StateandLocalGovernmentEmployeeRetirementFunds (5) AdditionaldetailondefinedcontributionplansisavailabletableF.120.c. (4) AdditionaldetailondefinedbenefitplansisavailabletableF.120.b. (3) Unfundeddefinedbenefitpensionentitlements. (2) Includesproductssoldbylifeinsurancecompanies,suchasvariableannuitiesandguaranteedinvestmentcontracts. (1) Includesclaimsonsponsor(i.e.,unfundedpensionentitlements). 0621 0821 2019 2019 2018 2017 2016 3. 3. 3. 3. 3. 3. 3. 3. 3. 22 231.6 231.6 231.6 231.6 231.6 231.6 17 230.4 294.4 233.1 337.8 235.2 315.1 278.8 352.6 321.1 156.8 267.9 303.8 3. . 33-. 5. . 6. 37-5216 -45.2 93.7 -68.8 15 -298.2 5.9 -264.4 33.6 -54.0 -96.5 -5.8 -122.4 23.3 -112.4 -27.6 1.3 -61.9 -30.3 -93.5 274. . 923. 15-71115-6420 -66.4 101.5 -47.1 31.5 30.9 29.2 10 5.9 9 8.7 -2.3 43.9 19.3 25.1 6 32.7 -88.5 65.7 -6.1 33.5 27.5 -14.7 47.3 15.3 -6.6 2.9 4.9 -16.1 57.7 16.7 -1.2 70.9 5.4 -2.2 48.1 -1.2 11.7 -3.0 11.1 . 76560626-. . 411814 1.8 -4.1 12 -3.1 4.9 0.0 -1.0 -0.1 8 2.6 156.7 -0.2 5 47.7 0.6 0.6 -3.8 -44.9 5.6 1.0 -1.0 78.1 -7.6 1 0.8 -0.3 70.3 0.4 6.5 -0.6 0.7 37.8 0.4 0.6 70.0 0.2 0.4 52.5 0.2 0.4 5.3 -0.3 0.3 -0.4 0.4 0.5 0.3 0.3 0.3 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 37 2020

Transactions Transactions 6 F23705 liso eso udo pno 2 4. 1. 4. 7. 8. 3. 6. 2. 6. 16 18 369.6 11 231.6 97.3 224.8 231.6 2.5 9 363.4 231.6 56.2 5 235.0 231.6 79.1 1.3 0.8 286.5 231.6 55.9 277.4 231.6 2.2 -29.1 -8.1 149.8 230.4 2 3.6 Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates -0.5 210.6 31.6 233.1 32.3 F.120.c StateandLocalGovernmentEmployeeRetirementFunds:DefinedContributionPlans(1) 19.6 -1.3 246.7 235.2 13.8 -2.0 -1.3 1.3 -3.4 (2) Unfundeddefinedbenefitpensionentitlements. -25.4 (1) Includesclaimsonsponsor(i.e.,unfundedpensionentitlements). 14.6 -54.5 0.4 -8.1 18FA224190043Netincreaseinpensionentitlements(liabilities) 1 8.7 8.4 -0.1 231.6 17FA223093043Other -0.2 231.6 16FA223073045Claimsofpensionfundonsponsor(2) -0.2 2.7 15FA223090045Miscellaneousassets 231.6 1.0 -1.3 14FA223064243Mutualfundshares 231.6 13FA223064145Corporateequities 231.6 -10.4 12FA223065043Loans(mortgages) 231.6 1.9 11FA223063045Corporateandforeignbonds 230.4 10FA223062043Municipalsecurities 233.1 9FA223061743Agency-andGSE-backedsecurities 8FA223061143Treasurysecurities 235.2 7FA223069143Openmarketpaper 6FA224022045Debtsecurities 5FA222051043Securityrepurchaseagreements 4FA223034043Moneymarketfundshares 3FA223030043Timeandsavingsdeposits 2FA223020043Checkabledepositsandcurrency 1FA224090045Netacquisitionoffinancialassets(1) Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.120.b StateandLocalGovernmentEmployeeRetirementFunds:DefinedBenefitPlans 38 A2005 Ntices npninetteet laiiis 2. . 501. 4676-. 35-297 -22.9 23.5 5 -8.7 1 -2.5 -22.9 11.5 7.6 23.5 -1.2 44.6 -2.5 12.2 18.3 7.6 35.1 -5.0 44.6 14.4 5.2 18.3 1.2 -28.9 -5.0 13.5 5.2 (2) Includesproductssoldbylifeinsurancecompanies,suchasvariableannuitiesandguaranteedinvestmentcontracts. 24.4 (1) Includes403(b)and457typeplans. -28.9 7FA224090055Netincreaseinpensionentitlements(liabilities) 6FA223093053Other 5FA223095505Unallocatedinsurancecontracts(misc.assets)(2) 4FA223090055Miscellaneousassets 3FA223064255Mutualfundshares 2FA223034055Moneymarketfundshares 1FA224090055Netacquisitionoffinancialassets

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 8. 5. 5. 0. 1. 6. 1. 2. 0. 15 302.9 326.1 316.0 266.3 317.2 306.4 155.4 253.9 281.5 9. 6. 2. 124-2. 9. 36-6. 28213 -298.2 -264.4 33.6 -96.5 -122.4 -112.4 -27.6 -61.9 -93.5 4. 82-. . . 50-. 18-693 -16.9 11.8 -1.6 -5.0 9.3 3.6 -6.6 -8.2 -49.4 494. . 903. 13-74113-6717 -66.7 101.3 14 -47.4 -28.4 31.3 81.9 30.7 -67.2 29.0 10.9 8 7 8.7 5.6 -63.3 -2.3 -9.4 19.3 43.3 25.1 4 -88.5 29.9 63.3 34.9 -6.1 33.5 9.5 27.5 -14.7 47.3 19.1 -6.7 15.3 2.9 4.9 -16.2 57.7 16.8 -1.2 70.9 5.3 -2.2 48.1 -1.3 11.7 -2.4 12.9 221. . 473. 25-. 17-. 4 -8.5 11.7 -1.0 12.5 35.4 14.7 1.4 14.0 22.2 2105030303030303036 0.3 0.3 0.3 2 2.4 0.3 -0.0 0.3 0.1 0.3 0.1 0.3 -0.1 0.5 0.0 -2.1 0.1 -0.6 -1.8 . 76560626-. . 411812 1.8 -4.1 10 -3.1 4.9 0.0 -1.0 -0.1 6 2.6 156.7 -0.2 3 0.6 47.7 0.6 -3.8 -44.9 5.6 1.0 -1.0 78.1 -7.6 0.8 -0.3 70.3 6.5 -0.6 0.7 37.8 0.6 70.0 0.2 52.5 0.2 5.3 -0.3 -0.4 0.5 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

3 F63625 e hr sus(iblte)2. 1. 6. 0. 1. 39150441-30713 -1320.7 15 484.1 -160.4 -106.9 105.0 -114.6 10 33.9 9 -14.2 -117.8 266.8 210.0 -77.0 -9.4 65.0 208.2 7 -104.1 -13.0 4.5 -362.4 3 -63.3 -104.4 96.9 0.6 -22.9 -93.5 318.4 73.2 -31.4 74.4 -60.5 28.8 1.7 20FA654091203Municipalbondfunds 113.3 19FA654091303Taxablebondfunds -19.2 58.7 18FA654091403Hybridfunds 64.0 -18.6 -10.5 17FA654092603Worldequityfunds -105.8 2 16FA654091600Domesticequityfunds 115.2 7.7 16.2 -1320.7 31.0 Netacquisitionoffinancialassetsbyinvestmentobjective: 139.4 484.1 18.6 93.9 5.6 15FA654090500Variableannuitymutualfundsincludedabove 96.8 105.0 21.2 Memo: 33.9 3.0 -16.4 14FA657005005Discrepancy 210.0 12.9 14.0 208.2 13FA653164205Netshareissues(liabilities) -63.3 2.3 12FA653093005Miscellaneousassets 11FA653064100Corporateequities 318.4 14 28.8 10FA653069803Loans(otherloansandadvances) 45.2 11 13 -19.0 3088.4 9FA653063005Corporateandforeignbonds -1.6 474.0 8FA653062003Municipalsecurities 9.6 7FA653061703Agency-andGSE-backedsecurities 0.0 791.1 6FA653061105Treasurysecurities 17.6 5FA653069100Openmarketpaper 673.0 4FA654022005Debtsecurities 2.4 9 12.1 445.8 786.1 3FA652051003Securityrepurchaseagreements -12.9 596.0 4 4.8 182.4 2FA654090000Netacquisitionoffinancialassets -163.3 189.9 -3.0 31.3 78.3 5 11.0 117.2 1FA656006403Grosssaving 3 6.1 1562.7 78.1 -89.9 12.8 -11.1 -1.1 -170.1 -3.7 Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates 193.9 138.1 149.0 130.6 1.9 F.122 MutualFunds(1) -194.5 435.0 110.2 51.3 -3.2 1 112.2 -57.7 219.6 -37.4 3088.4 68.2 67.8 474.0 155.7 (1) Open-endinvestmentcompaniesincludingvariableannuitymoneymarketfunds. 1.8 11.7 791.1 63.0 44.9 14FA634090503Variableannuitymoneymarketfundsincludedabove 211.8 673.0 36.7 154.8 -65.8 Memo: 445.8 -257.1 80.9 -7.5 13FA634090005Netshareissues(liabilities) 596.0 22.0 189.9 12FA633093005Miscellaneousassets 117.2 11FA633063005Corporateandforeignbonds 10FA633062000Municipalsecurities -11.1 9FA633061700Agency-andGSE-backedsecurities 8FA633061105Treasurysecurities 7FA633069175Openmarketpaper 6FA634022005Debtsecurities 5FA632051000Securityrepurchaseagreements 4FA633030000Timeandsavingsdeposits 3FA633020000Checkabledepositsandcurrency 2FA633091003Foreigndeposits 1FA634090005Netacquisitionoffinancialassets Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.121 MoneyMarketFunds(1) arenotseasonallyadjustedandthereforemaysumtototalnetacquisitionoffinancialassets (line2). (1) Open-endinvestmentcompaniesincludingvariableannuitymutualfunds.Quarterlyfiguresfor netacquisitionoffinancialassetsbyinvestmentobjective(lines16through20) 0621 0821 2019 2019 2018 2017 2016 122-5. 117-0. 157-0. 244-5. 49416 -439.4 -253.4 -254.4 -208.1 -105.7 12 -205.4 -31.7 -161.7 226.2 -158.2 -0.2 -162.2 11 -381.3 -5.3 -261.6 -192.1 120.1 -195.9 85.2 -234.4 -112.2 -221.0 38.0 -120.5 -133.4 -127.3 -111.5 7 -35.8 -5.9 56.2 45.0 78.8 43.5 41.1 42.9 -217.6 5. 1. 64350312276205407-6. 19 -568.0 430.7 290.5 277.6 301.2 325.0 96.4 315.1 155.5 4 -894.2 527.2 328.8 250.2 261.8 342.0 196.2 383.7 246.7 8 1060.9 6 82.4 1780.3 724.3 251.8 -286.2 826.0 131.6 -136.4 163.0 334.4 170.6 319.0 -94.7 181.7 311.7 -68.1 166.3 1. . 5. 1. 1. 2. 3. 09-8. 18 -187.9 10.9 -34.6 -22.4 -14.9 -15.2 14 -75.0 -58.7 -40.0 2.5 -37.0 -13.4 -42.0 -40.0 -39.8 -41.5 -67.1 -66.2 1 -75.0 -40.0 -37.0 -42.0 -40.0 -39.8 -41.5 -67.1 12 -66.2 13.0 106.3 10 -11.8 1.6 -16.7 128.9 -3.4 -227.0 14.5 2.4 -29.8 1.4 -8.9 -0.7 8.4 -14.0 -19.9 -81.8 704. 961971209. 0. 1. 6. 20 -68.5 17 45.3 115.5 103.0 48.1 98.2 -29.4 122.0 -48.4 109.7 6.5 19.6 -5.8 40.7 41.1 37.0 118.4 11.9 8 -68.6 6 107.8 -726.3 98.6 248.1 176.0 99.1 6.9 117.7 105.8 48.9 22.1 120.0 40.0 69.7 41.4 187.4 93.2 9219-. . 0328711. 1. 2 -14.5 13.8 7.1 2.8 -0.3 5.8 -2.2 1.9 -9.2 . 40-642. 771. 2. . 375 -3.7 9.5 -24.7 12.2 87.7 21.2 -16.4 14.0 2.3 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 39 2020

Transactions Transactions A6000 Ntsaeise laiiis 8. 7. 1. 2. 5. 5. 2. 4. 6. 8 360.1 348.4 5 324.9 -42.4 359.8 111.9 257.0 95.5 322.6 73.4 311.0 93.9 471.0 1 360.1 284.1 93.7 348.4 10 33.6 14FA564091203Municipalbondfunds -0.2 324.9 13FA564091303Taxablebondfunds 89.3 12FA564091403Hybridfunds 359.8 -0.4 11FA563093003Commodityfunds(1) 63.4 257.0 10FA564092603Worldequityfunds 0.0 9FA564091600Domesticequityfunds 322.6 Netacquisitionoffinancialassetsbyinvestmentobjective: 2.4 311.0 Memo: 471.0 3.3 5 8FA564090005Netshareissues(liabilities) 284.1 6.1 1.3 7FA563093003Miscellaneousassets(1) 0.7 6FA563064100Corporateequities 0.3 1.9 1 5FA563063003Corporateandforeignbonds 0.8 4FA563062003Municipalsecurities 3.5 3FA563061103Treasurysecurities 2.5 2FA564022005Debtsecurities 1.4 4.6 3.0 1FA564090005Netacquisitionoffinancialassets 6.3 2.0 Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates 6.9 F.124 Exchange-TradedFunds 0.5 5.7 0.9 5.9 12FA554092303Worldbondfunds 3.2 11FA554091203Municipalbondfunds 1.8 10FA554091303Domestictaxablebondfunds 9FA554092603Worldequityfunds 8FA554091603Domesticequityfunds 0.7 Netacquisitionoffinancialassetsbyinvestmentobjective: 0.8 Memo: 7FA554090005Netshareissues(liabilities) 6FA553064103Corporateequities 5FA553063003Corporateandforeignbonds 4FA553062003Municipalsecurities 3FA553061103Treasurysecurities 2FA554022005Debtsecurities 1FA554090005Netacquisitionoffinancialassets Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.123 Closed-EndFunds 40 (1) Investmentsprimarilyincommodities,currencies,andfutures.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 6. 8. 3. 3. 1. 7. 7. 052259 292.5 70.5 170.7 177.3 112.3 6 132.7 270.6 139.1 197.3 186.0 141.5 167.5 204.4 120.4 165.9 210.4 347.3 188.4 1716178413-. 73-. 6211 46.2 13 -5.1 38.5 10 -1.0 37.3 138.5 141.3 131.4 -0.0 -48.7 143.4 7 1.3 3.6 46.2 129.8 8.4 135.8 -5.1 23.1 91.7 37.3 1.7 29.8 115.8 -0.0 70.3 3 1.6 77.3 81.8 1.3 159.7 11.7 28.6 2 20.2 8.4 43.3 38.7 156.2 1.7 72.4 146.1 1.6 36.9 155.5 44.1 135.4 11.7 148.3 58.7 99.0 27.4 122.0 14.3 84.0 0502-...... 12 3.3 11 0.5 0.0 9 0.3 -0.0 1.1 5.4 1.6 0.0 -0.8 -0.1 0.0 1.8 5.3 0.3 4 1.7 0.4 0.5 -0.0 3 2.0 1.8 -3.0 0.3 0.2 0.2 -0.1 -1.1 5.4 -0.5 -0.4 -0.2 -0.8 -0.8 -0.2 -0.1 1.8 0.3 1.7 -0.5 2.0 -0.2 0.2 0.1 -0.2 -2.2 . . . 0446971. 563814 3.8 12 2.4 15.6 5.3 11.9 7.5 9.7 6.5 4.6 2.7 10.4 5.5 6.6 1.7 4 5.3 3.8 2.5 6.3 15.7 1.1 11.9 9.7 4.6 10.5 6.6 8 5.3 -0.0 6.3 3.1 7 3.5 -0.0 6 4.6 0.0 -0.0 6.3 0.2 4.7 2 3.6 6.9 0.8 -0.1 -0.1 5.7 5.3 -0.4 6.4 5.9 -0.1 0.5 1.5 0.2 1.8 2.6 5.1 0.7 -0.4 3.2 -0.5 0.8 0.1 2.2 1.2 0.8 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

3 F43623 on US oenetlas ...... 33 0.0 0.0 0.0 29 0.0 0.0 0.0 0.0 30 0.0 1372.6 0.0 169.8 0.0 223.1 0.0 255.1 0.0 0.0 171.4 0.0 204.9 0.0 81.1 0.0 153.1 0.0 20 206.7 194.2 0.0 19 36FA407005005Discrepancy 172.8 233.1 199.5 35FA403190005Miscellaneousliabilities 139.6 121.0 34FA403164105Corporateequities 213.5 123.5 12 121.4 33FA403169283Loans(U.S.governmentloans) -4.5 154.2 95.1 32FA403161785Other 164.0 -2.9 31FA403161795Consolidatedtrusts(2) 142.4 10 30FA403161705Debtsecurities(GSEissues)(3) 185.6 -7.5 -3.0 113.4 117.7 29FA402150005Federalfundsandsecurityrepos 138.7 -29.0 -2.8 28FA404190005Netincreaseinliabilities 4 79.0 42.4 6 -2.0 429.4 2 -165.0 27FA403093005Miscellaneousassets 11.7 1.3 1.0 32.4 -2.7 26FA403066005Consumercredit -2.3 -87.1 -8.4 1.0 -6.0 25FA403065605Farm 24FA403065485Other 5.7 29.3 2.1 -17.0 23FA403065495Consolidatedtrusts(2) 1.0 3 22FA403065405Multifamilyresidential 123.7 -5.1 1446.1 -23.2 21FA403065185Other -3.6 1.0 137.7 24.6 20FA403065195Consolidatedtrusts(2) -19.8 19FA403065105One-to-four-familyresidential 249.1 -2.2 -25.0 18FA403065005Mortgages 1.0 5.9 243.8 -12.6 10.6 17FA403069330FHLBloans 1.0 190.1 16FA403069345FarmCreditSystem 0.7 2.1 15FA403069385SallieMae 205.2 14FA403069305Otherloansandadvances 1.0 111.7 7.8 13FA404023005Loans 1.1 141.5 12FA403063005Corporateandforeignbonds 203.0 1.6 11FA403062005Municipalsecurities 10FA403061705Agency-andGSE-backedsecurities 9FA403061105Treasurysecurities 8FA403069105Openmarketpaper 7FA404022005Debtsecurities 6FA402050005Federalfundsandsecurityrepos 5FA403030005Timeandsavingsdeposits 4FA403020005Checkabledepositsandcurrency 3FA404090005Netacquisitionoffinancialassets 2FA405013005Fixednonresidentialinvestment 1FA406000105Grosssaving Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.125 Government-SponsoredEnterprises(1) A1050 Mliaiyrsdnilmrggs4. 344. 812. 694. 991. 3 11.5 6 49.9 118.0 2 46.9 139.3 106.6 1 26.9 118.0 95.9 90.8 139.3 28.7 108.7 49.1 95.9 114.8 38.1 81.8 108.7 114.7 43.0 86.1 114.8 165.9 53.4 76.9 114.7 193.8 41.3 165.9 157.5 123.1 193.8 (2) Suchissuesareclassifiedasagency-andGSE-backed securities. 141.4 CMOsandprivatelyissuedCMOs.Excludes FederalFinancingBankholdingsofpoolsecurities,whichareincludedwithfederalgovernment mortgagesandotherloansadvances. 157.5 115.8 onFannieMae’sandFreddieMac’sbalance sheets (tableF.125).Alsoincludesagency-andGSE-backedmortgagepoolsecuritiesthatareused ascollateralforagency-andGSE-backed (1) GinnieMae,FannieFreddieMac,Farmer Mac,andFarmersHomeAdministrationpools.Beginning2010:Q1,almostallFannieMae FreddieMacmortgagepools(F.126)areconsolidated 6FA413065005Netincreaseinpool securities(liabilities)(2) 5FA413065605Farmmortgages 4FA413065505Commercialmortgages 3FA413065405Multifamilyresidentialmortgages 2FA413065105One-to-four-familyresidentialmortgages 1FA413065005Netacquisitionoffinancialassets Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.126 Agency-andGSE-BackedMortgagePools(1) (3) Suchissuesareclassifiedasagency-andGSE-backedsecurities. (2) ConsolidatedtrustsreferstotheunpaidbalanceofsecuritizedmortgagesFannieMaeandFreddie Macmovedontotheirbalancesheetsatthebeginningof2010inresponsenewaccountingrules. FannieMae’sandFreddieMac’sbalancesheets(F.125). Association(SallieMae)wasincludeduntilitfullyprivatizedin2004:Q4.Beginning2010:Q1, almostallFannieMaeandFreddieMacmortgagepools(F.126)areconsolidatedon (1) FederalHomeLoanBanks,FannieMae,FreddieMac,FarmerFarmCreditSystem,theFinancingCorporation,andResolutionFundingCorporation.TheStudentMarketing 0621 0821 2019 2019 2018 2017 2016 5. 2. 9. 9. 5. 5. 3. 1. 3. 31 238.8 215.4 234.0 28 159.5 1454.7 183.5 157.2 251.3 191.5 224.4 195.1 153.1 226.3 203.1 154.3 86.9 154.3 18 256.6 201.0 160.8 272.4 164.2 13 1040.1 122.4 79.2 180.0 184.2 145.1 90.9 174.4 32.7 112.4 96.7 149.3 207.0 191.3 1. 90-. 62-32-. 84-81-3824 -13.8 -28.1 21 18.4 26.4 -1.9 -33.2 14.0 -13.2 0.4 -6.2 -5.3 -28.4 -11.8 -9.0 -50.7 -10.4 -46.9 -38.6 99-32-1. 331. 56-09-5613. 32 1133.8 -45.6 -10.9 95.6 14.2 13.3 23 -114.0 32.1 22 -73.2 18.3 42.6 39.9 14.5 34.5 52.9 38.5 36.7 33.7 17 778.2 20.5 37.3 14 -100.6 31.2 783.4 -88.2 31.1 -81.6 25.8 -90.9 40.7 -88.2 31.7 9 -82.6 36.6 -73.3 57.5 -90.6 26.2 -89.8 69.7 -2.6 -83.2 55.8 27.8 4.2 56.8 73.1 32.5 40.3 78.9 55.6 14.4 -1.1 14.9 24-. 07-. 04-. 10-. 0211 -0.2 -0.1 7 -1.0 49.5 -0.9 38.5 -0.4 94.3 -0.6 61.9 38.6 -0.7 58.4 -1.2 3.0 -2.4 -38.6 -4.2 . 85-9630-24-45815. 0536 10.5 35 54.5 34 50.7 27.6 18.1 8.1 -4.4 33.8 -14.5 -5.5 -34.8 -32.4 -7.5 4.1 3.0 2.4 -10.8 -19.6 -4.2 1.4 26 18.5 0.0 4.5 25 27 0.3 3.6 5.3 91.3 0.0 0.9 3.7 -32.1 6.6 0.0 3.2 79.4 6.0 0.0 50.2 6.1 0.0 30.7 6.8 32.1 15 0.0 16 0.0 5.2 -15.7 6.4 0.0 0.0 19.1 -39.8 5.9 0.0 2.6 -0.0 0.0 4.0 0.0 17.5 0.0 8 7.1 -7.1 4.2 0.0 7.4 0.8 0.0 6.8 0.1 5 0.0 0.7 4.7 -2.8 0.0 18.3 1 5.9 3.0 0.0 2.9 -13.3 0.3 9.5 5.9 0.5 -32.0 6.9 -4.4 0.5 5.9 12.7 0.5 5.7 1.7 6.1 3.4 6.1 6.8 7.2 ...... 4 0.0 5 -0.2 0.0 -1.3 0.0 -0.0 0.0 -0.0 0.0 -0.0 -0.4 0.0 -0.2 0.0 -1.0 0.0 0.3 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 41 2020

Transactions Transactions 6 F64205 e nraei iblte 102-141. 515. 271676. 6. 16 161.4 61.3 146.7 15 23.4 -2.7 8.2 55.1 10 29.9 65.1 4.2 -70.3 6 10.6 -1.0 18.9 0.0 -41.4 13.3 17.1 2 0.0 -100.2 0.0 6.2 4.2 0.0 21FA643065045REITassets(6) 0.0 3 20FA675013263Consumerleases(5) 3.1 -7.5 Securitizedassetsnotincludedabove 161.4 0.0 0.0 3.1 12.0 61.3 Memo: 0.0 6.8 0.0 146.7 -28.4 19FA677005005Discrepancy 0.0 -2.7 -63.8 18FA673163005Corporatebonds(net)(4) 0.0 17FA673169105Commercialpaper 55.1 0.0 0.0 16FA674122005Netincreaseinliabilities 65.1 0.0 15FA673090543Miscellaneousassets(fundingagreements)(3) 0.0 10.6 14FA673070003Tradecredit 0.0 0.0 -41.4 13FA673066000Consumercredit 12FA673065505Commercial -100.2 0.0 11FA673065405Multifamilyresidential 10FA673065105One-to-four-familyresidential 9FA673065005Mortgages(2) 8FA673069005Otherloansandadvances 7FA674023005Loans 6FA673061703Agency-andGSE-backedsecurities(1) 5FA673061103Treasurysecurities 4FA674022005Debtsecurities 3FA674090005Netacquisitionoffinancialassets 2FA675013025Fixednonresidentialinvestment 1FA676330023Grosssaving Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.127 IssuersofAsset-BackedSecurities(ABS) 42 (6) IncludedintableF.129. Theleasedautomobileisanonfinancialasset;depreciationincludedinline1,andfixedinvestment2. (5) Receivablesfromoperatingleases,suchasconsumerautomobilearebookedcurrentincomewhenpaymentsreceivedandnotincludedinfinancialassets(orhouseholdliabilities). (4) Netissuancelessnetacquisitionofcorporatebondsheldasassets. (3) Fundingagreementswithlifeinsurancecompanies. (2) MortgagesbackingprivatelyissuedpoolsecuritiesandCMOs. (1) Agency-andGSE-backedmortgagepoolsecuritiesbackingprivatelyissuedCMOs.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 137-311. 1533-478. 3. 0. 9 101.9 -30.6 88.1 -14.7 3.3 11.5 15.8 -33.1 -103.7 9. 2. 547. 191. 3. 7512718 182.7 67.5 139.3 12.6 11 12 61.9 27.7 44.3 70.3 13.6 26.0 -5.4 6.0 63.2 7 -26.1 132.5 -30.0 -1.8 29.0 -99.5 10.2 -11.0 133.8 17.3 1.7 -9.0 12.2 0.5 28.8 -0.2 -4.5 45.7 -25.5 -2.1 -14.4 -43.8 -98.6 87-361. 922. 521. 51-0621 -80.6 55.1 16.4 15.2 17 29.9 -21.2 29.2 -6.2 14 9.5 12.2 7.4 8.3 -23.6 -15.3 -8.7 -1.6 -6.8 -1.6 -5.2 -2.5 15.9 5 0.6 4 -15.4 -4.0 -4.0 -0.7 1.4 15.8 15.8 10.3 -1.5 10.3 8.9 -0.1 8.9 15.5 15.5 12.6 12.6 8.1 8.1 -8.2 -8.2 -8.4 -8.4 ...... 20 0.0 0.0 19 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13 0.0 -7.6 0.0 8.6 0.0 0.0 8 -4.0 0.0 38.2 -6.2 0.0 51.0 -7.9 49.8 -2.4 12.0 1 -11.9 0.0 33.4 -9.1 36.5 0.0 4.1 -6.0 0.0 -1.5 0.0 1.0 0.0 0.0 0.0 0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

6 F63633 osmrlae o nlddaoe()1. . . 24-. 4906-. 1. 26 -10.0 -1.3 0.6 -4.9 21 -4.8 -4.0 13.1 -2.4 10.8 18 30.5 0.6 5.6 2.0 3.7 -4.1 12.8 13.4 6.3 -4.7 11 8.1 6.5 12.1 1.8 5.6 33.0 8 59.1 33.3 -1.5 2.3 26FA613066303Consumerleasesnotincludedabove(3) -41.5 9.5 -11.3 5 -25.4 Memo: 13.9 13.0 0.2 4 2.2 25FA617005005Discrepancy 4.6 -6.4 22.2 6 24FA613193005Other 23.2 -8.5 2.5 -2.1 23FA613194003Investmentbyparent 13.7 3 22FA613190005Miscellaneousliabilities -10.4 2 112.6 -2.3 -2.8 12.5 15.1 87.9 9.8 21FA613192003ForeigndirectinvestmentinU.S. -42.5 20FA613178005Taxespayable -6.8 -0.8 10.4 33.3 91.4 36.8 -0.8 19FA613169005Otherloansandadvances -6.0 -11.0 -2.2 18FA613168003Depositoryinstitutionloansn.e.c. 92.2 13.6 -16.7 17FA614123005Loans -13.9 -13.0 -2.0 93.1 16.9 -0.5 16FA613163005Corporatebonds -6.4 1 -4.3 15FA613169100Openmarketpaper 92.7 6.2 86.7 14FA614122005Debtsecurities -4.5 -28.9 -2.1 92.3 0.6 107.3 13FA614190005Netincreaseinliabilities -10.6 -9.6 90.4 114.9 12FA613090005Miscellaneousassets 9.9 -43.0 11FA613092003U.S.directinvestmentabroad 100.0 85.4 -59.1 98.1 10FA613066005Consumercredit 92.4 9FA613065000Mortgages 105.1 8FA613069500Otherloansandadvances 7FA614023005Loans 99.7 6FA613063003Debtsecurities(corporateandforeignbonds) 92.9 5FA613030003Timeandsavingsdeposits 109.1 4FA613020003Checkabledepositsandcurrency 3FA614090005Netacquisitionoffinancialassets 2FA615013005Fixednonresidentialinvestment 1FA616000105Grosssavinglessnetcapitaltransferspaid(2) Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.128 FinanceCompanies(1) (3) Seefootnote(5),tableF.127. (2) NetcapitaltransferspaidfromtableF.5,line57. (1) Includesretailcaptivefinancecompaniesandmortgagecompanies. 0621 0821 2019 2019 2018 2017 2016 1. 27-88-50-55-751. 1. 9125 39.1 23 -8.4 -13.5 22 -5.5 78.0 16.4 -22.7 -3.8 -37.5 -20.4 -25.5 -10.6 36.0 -15.0 -2.0 48.6 -18.8 -5.5 16 -2.7 45.1 10.4 -10.9 14 49.6 -73.6 -11.0 -76.2 6.4 43.0 13 -3.5 -66.2 12 153.0 52.5 10 -24.0 -22.8 27.9 -60.0 -18.3 -71.9 9 -40.3 5.5 -80.2 -65.6 -15.0 30.5 25.6 -42.7 7 -71.3 -3.2 1.5 -30.8 21.3 11.6 51.6 -43.8 2.7 -14.0 8.8 -39.2 -8.3 44.1 -51.9 -21.6 -4.4 -21.2 -2.8 -2.8 -71.7 -51.2 -27.5 6.7 14.8 -67.1 3.2 26.1 -53.2 2.5 35.1 -86.7 -16.7 -6.9 -4.6 -13.1 -8.9 -7.1 -6.0 -14.4 -13.0 -21.0 -22.2 -50.7 02-. 2704-. 001104-. 19 -0.2 0.4 1.1 -0.0 -0.0 0.4 -2.7 -0.1 -0.2 . 1. 6. 585. 66-66-728. 24 86.4 20 -17.2 -0.1 -16.6 1.4 46.6 17 30.3 -1.7 50.5 15 4.5 2.4 -2.2 15.8 0.8 7.4 13.9 -65.3 -10.0 -4.7 -0.4 -15.1 5.7 -5.5 12.1 -3.0 5.9 8.9 11.0 -0.4 0.3 -1.1 -11.3 -7.5 0.0 0.7 4.6 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 43 2020

Transactions Transactions 9 F63643 utfml eieta otae 080816571. . . . 2. 29 -22.6 27 0.0 6.6 28 -62.9 0.0 2.8 26 -80.6 23.3 0.0 2.5 55.1 8.7 0.0 16.4 11.1 2.8 15.2 0.0 5.7 -0.2 29.9 0.0 1.6 8.7 29.2 0.0 0.8 20 5.2 12.2 157.2 0.0 -0.8 -23.6 -2.1 -5.9 0.0 -8.7 -10.0 2.8 -13.1 15 -11.2 -452.0 26.0 -9.1 17.5 30FA643065543Commercialmortgages 3.3 10 29FA643065443Multifamilyresidentialmortgages -84.6 121.7 8 28FA643065163One-to-four-familyresidentialmortgages 5.1 27FA643061743Agency-andGSE-backedsecurities -67.3 -31.1 123.1 26FA643065045Securitizedassetsincludedabove 14.2 17.4 -9.2 72.1 Memo: -3.2 21.0 43.3 5 25FA647005005Discrepancy 7 2.5 158.0 -0.8 54.9 -462.2 24FA643193005Miscellaneousliabilities 3 -12.7 -3.5 -10.6 -6.3 4.7 2.4 23FA643164103Corporateequityissues 29.1 4 29.1 1.0 -439.6 2 8.0 7.7 22FA123165005Mortgages 22.3 13.9 21FA643169373Otherloansandadvances -24.8 89.5 8.5 20FA643168005Depositoryinstitutionloansn.e.c. 8.0 4.8 -3.6 78.2 14.1 19FA644123005Loans 128.2 2.1 5.2 8.8 94.6 60.8 14.3 18FA643163005Corporatebonds 14.3 17FA643169173Openmarketpaper 1.0 159.1 16FA644122005Debtsecurities 18.4 14.5 7.3 -4.8 76.8 15FA642151073Securityrepurchaseagreements 54.6 14.7 3.1 7.1 67.2 14FA644190005Netincreaseinliabilities -27.4 14.4 2.0 3.5 78.4 13FA643090005Miscellaneousassets 14.4 -1.7 21.2 12FA643065505Commercial 13.7 11FA643065405Multifamilyresidential 5.5 10FA643065105One-to-four-familyresidential 11.6 9FA643065005Loans(mortgages) 8FA643063005Corporateandforeignbonds 7FA643061773Agency-andGSE-backedsecurities 6FA644022005Debtsecurities 5FA643020005Checkabledepositsandcurrency 4FA644090005Netacquisitionoffinancialassets 3FA125012063Multifamilyresidentialinvestment 2FA125013005Fixednonresidentialinvestment 1FA646000105Grosssaving Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.129 RealEstateInvestmentTrusts(REITs)(1) 44 (1) AdditionaldetailonfinancialassetsandliabilitiesforequitymortgageREITsisavailabletablesF.129.eF.129.m.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 1. 1. . 481. . . 524930 4.9 25.2 4.9 9.9 25 19.0 -3.1 14.8 116.5 6.9 5.3 8.9 -18.5 -10.7 19 -57.7 136.4 18.7 16.2 -39.3 -8.3 -12.2 -19.9 -34.0 -18.9 -7.7 -12.9 3.9 -15.3 6 -529.5 10.7 25.9 88.8 121.9 1 61.8 -84.6 26.9 -44.5 56.7 -36.0 -26.4 -54.6 -44.5 -44.9 -53.3 -48.9 -40.3 63481. 73-08-772. 12-. 24 -5.2 23 21.3 11.2 29.6 28.2 33.7 -47.7 -20.8 50.7 18 -40.1 -7.3 32.7 16 75.3 -40.1 16.1 36.7 75.3 72.4 4.8 21.5 72.4 73.1 41.8 16.3 13 73.1 51.6 14 28.4 -339.6 32.4 51.6 68.1 24.2 158.3 9 143.4 68.1 31.0 -13.7 -96.5 177.8 -62.6 31.0 21.6 -47.0 167.8 1.5 21.6 21.8 37.0 161.8 21.8 -12.7 46.1 99.0 24.8 39.3 127.1 11.5 44.6 18.9 31.0 20.2 7.1 14.7 71-. 04-. . 37-. . 1. 21 -15.6 0.6 -0.5 -3.7 0.0 -0.9 -0.4 11 -22.9 -6.8 11.2 -7.1 4.1 4.5 12.8 8.1 1.4 1.6 -0.2 . . 1. . 77-. . 76-. 22 -5.2 17.6 17 0.0 2.2 0.0 -3.1 -7.7 0.0 2.2 0.0 -15.8 0.0 12 5.6 11.0 0.0 -27.1 1.0 0.0 15.5 0.0 20.6 24.0 0.0 8.3 11.1 0.7 0.6 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

3 F63643 utfml eieta otae 080816571. . . . 2. 23 -22.6 21 0.0 6.6 22 -62.9 0.0 2.8 20 -80.6 23.3 0.0 2.5 55.1 8.7 0.0 16.4 11.1 17 2.8 6.1 15.2 0.0 5.7 -0.2 -0.6 29.9 0.0 1.6 8.7 -3.8 29.2 0.0 0.8 5.2 -6.3 12.2 0.0 -0.8 -23.6 -3.0 -5.9 12 -452.0 -8.7 0.0 -3.4 26.0 2.8 0.2 17.5 7 -84.6 121.7 5 1.8 -64.3 -30.8 123.1 0.1 11.2 17.4 24FA643065543Commercialmortgages 72.1 23FA643065443Multifamilyresidentialmortgages 2 -3.5 22FA643065163One-to-four-familyresidentialmortgages 21.0 43.3 31.1 21FA643061743Agency-andGSE-backedsecurities 4 20FA643065045Securitizedassetsincludedabove 2.5 -1.9 54.9 1.4 -462.2 Memo: -3.5 -10.6 -4.8 2.5 1.5 1 19FA643193075Miscellaneousliabilities 29.1 -597.2 0.3 7.8 7.7 -25.2 18FA643169373Otherloansandadvances 89.5 17FA643168073Depositoryinstitutionloansn.e.c. 5.8 42.6 4.8 -1.2 16FA644123075Loans 128.2 0.0 77.2 14.2 60.8 15FA643163075Corporatebonds 2.3 14FA643169173Openmarketpaper 178.8 0.6 13FA644122075Debtsecurities 18.4 0.7 68.3 12FA642151073Securityrepurchaseagreements 54.6 -1.8 75.3 12 11FA644190075Netincreaseinliabilities -27.4 151.1 -0.9 36.7 10FA643090075Miscellaneousassets -1.5 5.4 10 9FA643065573Commercial 22.6 -6.1 8FA643065473Multifamilyresidential 7FA643065173One-to-four-familyresidential 14.7 -6.9 6FA643065075Loans(mortgages) 54.3 5 -8.2 5FA643063073Corporateandforeignbonds 0.0 4FA643061773Agency-andGSE-backedsecurities 47.3 3FA644022075Debtsecurities -5.7 -0.3 24.5 2FA643020073Checkabledepositsandcurrency 3.1 -0.0 35.2 1FA644090075Netacquisitionoffinancialassets 3 2 3.4 -3.0 127.0 -0.0 17.2 Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates -14.1 1 -9.3 3.1 37.6 -0.0 157.6 F.129.m MortgageRealEstateInvestmentTrusts 27.5 25.1 0.3 -0.1 0.4 14.6 -0.0 1.1 35.7 -2.4 16FA123193005Miscellaneousliabilities 0.1 17.4 -1.5 6.4 15FA123165503Commercial 14FA123165403Multifamilyresidential -19.7 0.0 0.7 13FA123165005Mortgages -5.4 12FA123168003Depositoryinstitutionloansn.e.c. 8.4 11FA124123005Loans 2.7 4.8 -8.2 10FA123163003Debtsecurities(corporatebonds) 2.1 2.9 41.7 9FA124190005Netincreaseinliabilities 0.4 15.8 8FA123093005Miscellaneousassets 7FA123065503Commercial 6FA123065403Multifamilyresidential 5FA123065103One-to-four-familyresidential 4FA123065005Loans(mortgages) 3FA123063003Debtsecurities(corporateandforeignbonds) 2FA123020003Checkabledepositsandcurrency 1FA124090005Netacquisitionoffinancialassets Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.129.e EquityRealEstateInvestmentTrusts 0621 0821 2019 2019 2018 2017 2016 1. 1. . 481. . . 524924 4.9 25.2 4.9 9.9 19.0 14.8 5.3 -18.5 -10.7 11 -535.4 90.2 38.9 74.3 154.9 89.6 3 -526.5 71.9 7.7 32.7 25.6 -14.4 87.7 123.4 61.1 24.2 54.6 -26.8 84-112. 1. 65-78-601. 2510 -2.5 17.1 6 -16.0 -99.3 -57.8 -51.3 16.5 31.4 -10.1 39.6 24.5 40.2 -11.1 15.0 18.4 25.9 -5.1 14.8 9 8 174.5 30.9 38.5 7.1 70.8 2.3 52.8 -4.8 -19.8 35.6 -15.0 -2.6 5.5 0.3 52.6 22.6 26.6 12.6 71-. 04-. . 37-. . 1. 18 -15.6 16 0.6 -9.4 0.1 -0.5 15 -62.7 -3.7 -4.3 13 60.6 -62.7 0.0 -9.9 60.6 18.1 -3.0 -0.9 18.1 25.9 8 -4.3 -0.4 25.9 27.1 -22.2 -0.3 -6.8 27.1 9.7 32.9 -5.0 -7.1 32.9 13.8 3.5 -7.1 13.8 -15.9 4.4 -3.3 -15.9 13.0 -3.3 7.7 1.8 1.4 -0.3 15 -7.2 14.0 4.4 11 145.9 -1.9 16.1 -3.0 -4.0 7 3.5 3.4 -10.0 4 3.1 -15.9 2.8 -11.4 -3.5 10.3 5.0 4.4 -12.7 -1.3 6.5 5.6 8.9 -0.6 6.5 -8.2 3.5 -0.9 -5.4 3.9 12.0 -5.7 -0.3 12.2 -0.1 . 131. 1. . 6. . . 1. 19 -11.2 3.6 14 0.0 7.6 0.0 -63.3 7.5 0.0 -11.1 0.0 15.1 0.0 -1.3 9 7.5 0.0 6.5 -30.3 0.0 10.5 0.0 14.2 0.0 24.7 4.8 16.4 -11.3 0.9 16 6.0 14 7.6 2.0 13 -5.2 20.5 3.6 17.6 15.5 -2.2 2.2 -28.3 -1.2 3.9 -3.1 -4.7 6 1.0 -7.7 -0.8 -1.1 2.2 6.1 1.5 -4.4 -15.8 9.8 0.5 -4.7 5.6 2.3 0.1 1.0 -0.2 0.5 -0.3 0.2 0.2 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 45 2020

Transactions Transactions 9 F62903 rpitr’ntivsmn 7310955207-. . 155329 5.3 11.5 8.8 -0.0 27 0.7 -56.6 58.4 25 5.2 -112.0 79.6 41.5 9.5 -24.3 53.8 1.0 20 156.8 255.8 28.8 67.6 17.3 1.0 60.2 14.4 18 7.0 46.1 331.7 -77.0 -29.4 -37.4 9.5 228.3 17 14 34.1 -90.1 243.8 -6.1 -10.0 95.9 -474.9 -113.1 -1.8 1.9 369.1 -8.5 6.1 30FA667005005Discrepancy 368.4 3.8 -10.0 12 -36.4 29FA662090003Proprietors’netinvestment 20.0 85.2 14.1 -1.7 11 56.6 28FA663193005Other 34.2 24.8 74.0 27FA663194005Investmentbyparentcompanies 12.1 56.5 305.9 26FA663190005Miscellaneousliabilities -56.6 12.3 12.4 9 79.4 -2.2 36.0 25FA663192005ForeigndirectinvestmentinU.S. 58.1 -8.1 81.2 -55.2 24FA663178005Taxespayable -35.6 -19.2 4 -27.3 8.0 23FA663170003Tradepayables 147.0 5 -31.9 16.7 35.1 347.8 22FA663164103Corporateequityissues 24.9 21.7 -22.0 83.2 -23.8 -282.2 2 21FA153067005Otherloansandadvances 0.4 0.5 34.9 20FA663168005Depositoryinstitutionloansn.e.c. 413.2 34.9 69.7 3 19FA664123005Loans 40.4 178.8 1228.7 -11.1 35.0 28.9 -8.4 18FA663163003Debtsecurities(corporatebonds) -613.0 13.3 -14.5 -69.8 35.0 18.3 447.6 17FA662151003Securityrepurchaseagreements 80.8 -1.0 1 509.1 34.8 -14.5 16FA664190005Netincreaseinliabilities -18.4 206.2 95.2 7.3 34.5 -12.6 24.1 15FA663090005Miscellaneousassets -3.7 109.7 14FA663092003U.S.directinvestmentabroad -0.2 34.8 29.2 -20.6 261.8 13FA663064103Corporateequities 33.0 13.1 28.4 74.7 12FA663069005Loans(otherloansandadvances) 30.2 27.4 -21.6 11FA663063005Corporateandforeignbonds 26.8 10FA663062003Municipalsecurities 27.3 9FA663061703Agency-andGSE-backedsecurities 8FA663061105Treasurysecurities 12.3 7FA663069103Openmarketpaper 6FA664022005Debtsecurities 10.7 5FA662051003Securityrepurchaseagreements 26.8 4FA663020003Checkabledepositsandcurrency 3FA664090005Netacquisitionoffinancialassets 2FA665013005Fixednonresidentialinvestment 1FA666000105Grosssavinglessnetcapitaltransferspaid(1) Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.130 SecurityBrokersandDealers 46 (1) NetcapitaltransferspaidfromtableF.5,line58.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 7. 4. 3. 87158-691. 9. 1. 26 -15.5 -94.5 10.3 -26.9 185.8 18.7 -32.8 -46.1 173.6 5. 09-72-892. 26-93-5. 1128 41.1 -152.9 -69.3 -2.6 29.0 -48.9 -47.2 30.9 -54.7 15 560.6 -222.5 46.2 191.7 303.1 79.6 -54.6 29.9 -33.4 941. 5. 235. 183. 295. 30 56.6 22.9 34.8 51.8 59.8 23 17.5 42.3 1.2 -58.3 1.8 17.4 0.5 59.4 -7.5 -1.0 -27.8 7.9 16 1338.7 10.4 -579.2 488.2 567.3 162.1 159.6 8 224.2 -91.0 111.7 6 1.9 40.0 37.8 -110.4 -74.8 -7.6 -111.6 -107.9 -65.2 -73.1 -113.9 139.1 -74.3 22.3 154.7 -2.7 36.4 11.3 1393-. 21866. . 253. 22 31.3 12.5 21 2.6 575.5 -33.5 64.7 125.9 8.6 27.2 22.1 -33.6 -2.3 21.5 9.3 -1.7 13 -1.3 54.3 -54.9 -4.0 -94.9 7 -23.2 48.7 62.2 -20.9 -35.1 7.2 -22.8 -7.8 -19.9 -26.3 9.9 -5.4 -2.9 2.1 -4.5 -5.7 . 0305-. . 07-. 665324 5.3 -6.6 -1.1 -0.7 2.6 19 831.2 -1.4 -32.5 132.9 0.5 36.7 10.3 -43.6 0.1 23.4 2.1 10 -40.7 -10.0 8.1 -15.6 7.3 6.6 -18.9 -5.2 -5.3 5.1 7.7 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

6 F73903 oeg ietivsmn nUS 2 4. 823. 3. 5. 67-54-0714526 164.5 -30.7 21 -0.0 -45.4 0.0 -6.7 0.0 -52.0 -33.7 0.0 18 33.9 -27.4 -0.0 -126.1 -8.2 16 12.5 -0.0 -3.4 145.4 17 15 245.0 -23.7 11.6 14 -0.0 -0.6 -7.0 9 -7.7 0.1 97.2 -0.6 -0.0 30FA737005005Discrepancy 0.7 -1.8 10 -28.7 1.0 -1.2 13 44.3 -4.0 -0.0 29FA733193015Other 8 60.8 -2.5 41.1 -0.6 28FA733164005Equity,etc. -18.3 24.9 -32.8 1.7 8.3 27FA733193005Miscellaneousliabilities 5 117.7 96.8 -8.1 2.1 9.1 51.9 -0.0 -1.8 -41.1 26FA733192003ForeigndirectinvestmentinU.S.(2) 1.8 12.8 25.4 -4.8 22.5 1.2 -5.8 3.7 267.7 -81.2 25FA733164103Corporateequityissues 3.0 1.1 -23.2 -13.3 67.7 11.9 -3.4 0.8 24FA733163003Corporatebonds -0.4 -55.6 5.0 -6.1 23FA733169103Commercialpaper -11.0 103.0 13.4 2 7.6 22FA734122005Debtsecurities -0.8 192.0 1.2 3 48.9 2.5 4.8 -10.9 4.5 -18.8 226.1 21FA732151003Securityrepurchaseagreements 1.9 -0.9 0.6 48.7 -78.3 17.9 1.3 26.8 -2.7 20FA734190005Netincreaseinliabilities 0.4 14.2 48.6 -1.4 -0.2 -1.1 182.5 2.2 19FA733093005Other 3.8 18FA263194735Nettrans.withforeignaffiliates 48.0 -4.0 365.4 17FA663194735Nettrans.withbrokeranddealeraffiliates 300.1 16FA613194733Nettrans.withfinancecompanyaffiliates 47.5 4.9 1.4 15FA543194733Nettrans.withlifeinsurancecompanyaffiliates 146.4 14FA513194733Nettrans.withproperty-casualtyins.co.affiliates 48.2 -0.0 13FA763194735Nettrans.withdepositoryinstitutionaffiliates -16.3 12FA733090005Miscellaneousassets 45.3 -5.8 11FA733040005Lifeinsurancereserves 42.1 286.5 10FA733069005Loans(otherloansandadvances) 35.7 9FA733063003Corporateandforeignbonds 8FA733061703Agency-andGSE-backedsecurities 7FA733061103Treasurysecurities 6FA734022605Debtsecurities 5FA732051003Securityrepurchaseagreements 4FA733030003Timeandsavingsdeposits 3FA734090005Netacquisitionoffinancialassets 2FA735013005Fixednonresidentialinvestment 1FA736000105Grosssaving Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.131 HoldingCompanies(1) (2) InvestmentinU.S.IntermediateHoldingCompanies. (1) Parent-onlybankholdingcompanies,savingsandloancompaniessecuritythatfileFederalReserveBoardformFRY-9LP,Y-9SP,or2320. 0621 0821 2019 2019 2018 2017 2016 126-05-672. 54974. 23-7229 -57.2 42.3 48.1 27 -293.8 9.7 -25.6 -46.8 -5.4 74.6 23.7 -47.9 -16.7 -11.4 -10.5 -114.9 -112.6 -261.4 -109.5 6. 22-844. 5. 3. 1. 9. 7. 24 373.3 22 -97.2 371.5 -18.7 -89.1 138.5 -28.9 157.1 139.3 20 102.8 44.9 158.0 -329.6 44.8 -48.4 -285.4 92.2 87.4 -46.9 94.4 168.7 -72.9 12 235.5 -150.1 165.2 -64.4 -239.3 -253.8 -108.2 167.5 316.3 254.4 99.5 -26.7 -44.4 282.5 1 190.1 130.3 161.8 188.8 220.8 175.4 176.2 186.6 154.9 3. 7. 113-4. 110-1. 142-8. 19425 -139.4 -184.2 -164.2 -119.8 -131.0 -149.8 -111.3 -78.6 -33.5 352215-. . . 1. . 1823 -1.8 8.1 -10.2 0.8 1.0 19 -15.1 -0.1 -42.1 1.5 -49.5 -5.4 2.2 -2.1 -3.5 -24.8 -10.0 7 -10.8 -35.0 -0.9 12.9 4 -3.8 62.3 -6.8 17.6 -13.6 -4.3 -3.6 22.1 24.4 12.8 0.1 13.2 -2.4 -0.4 -2.5 -2.1 . 135-21-6. 196-3. 108-6. 7930 17.9 28 -236.6 -169.7 -67.9 -170.8 -95.0 -137.3 -199.6 64.9 -169.4 -42.4 -92.1 -35.1 -103.5 -98.2 0.2 -250.9 3.0 11 4.0 4.0 4.0 4.0 6 4.0 -53.9 17.9 4.0 64.8 4.0 27.0 4.0 6.2 4.0 29.0 31.5 14.4 3.2 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 47 2020

Transactions Transactions 1 F53903 oeg ietivsmn nUS ...... 21 0.0 0.0 18 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12 8 11 -301.6 0.0 11.4 0.0 31.0 66.1 7 43.4 3.2 0.0 -5.9 108.3 4 -12.4 -65.5 -14.5 3.5 0.0 0.0 3.5 60.0 3 -64.6 3.8 25FA503193005Other(net) 0.0 213.8 24FA503194305EquityinterestunderPPIP 61.7 3.5 42.2 23FA663097005Securitiesloaned(net) 9.2 1.6 0.0 22FA503190005Miscellaneousliabilities -3.5 37.7 2 6.1 392.4 75.0 0.8 21FA503192003ForeigndirectinvestmentinU.S. 0.0 -21.4 43.4 20FA503164105Corporateequities -17.0 0.2 93.7 36.3 1 -20.1 -0.7 0.0 50.1 19FA503169205Otherloansandadvances 171.2 -1.9 43.6 18FA713068505Depositoryinstitutionloansn.e.c. -5.6 3.0 -5.2 17FA504123005Loans 28.7 0.0 55.4 3.6 16FA503163005Corporatebonds -30.8 -32.1 3.0 0.0 7.5 15FA503169105Openmarketpaper -4.1 -127.1 -1.1 14FA504122005Debtsecurities 0.0 83.0 7.4 13FA504190005Netincreaseinliabilities -3.3 -11.6 0.0 105.2 12FA663194505Investmentinbrokersanddealers 38.3 11FA753194503Investmentinforeignbankingoffices 70.0 10FA503094505Miscellaneousassets 18.4 69.8 9FA503064105Corporateequities 262.1 8FA503069805Loans(otherloansandadvances) 7FA503063005Corporateandforeignbonds 6FA503069105Openmarketpaper 5FA504022005Debtsecurities 4FA502051003Securityrepurchaseagreements 3FA503034005Moneymarketfundshares 2FA713129003Checkabledepositsandcurrency 1FA504090005Netacquisitionoffinancialassets Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.132 OtherFinancialBusiness(1) 48 thePublic-PrivateInvestmentProgram(PPIP),anddepositsofdesignatedfinancialmarketutilities(DFMU)atFederalReservebanks. (1) Includesfundingsubsidiaries,custodialaccountsforreinvestedcollateralofsecuritieslendingoperations,FederalReservefacilities,fundsassociatedwith

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 6. 034. 5. 3. 9. 1267. 0. 25 300.7 75.7 22 534.8 -142.6 -48.6 -99.9 -107.2 -37.6 -65.2 -51.1 23.5 44.3 -49.4 50.3 25.4 264.7 13 86.7 171.2 28.7 224.2 -30.8 -127.1 83.0 -11.6 70.0 6 5 -219.1 69.8 -175.7 -14.4 262.1 -26.9 -256.7 -253.1 -92.9 -89.4 -57.9 -51.8 -105.5 -105.3 -12.6 -14.5 58.9 62.5 108.8 104.7 4. 64-89176. 473. 14324023 234.0 -124.3 35.4 34.7 61.1 1.7 -18.9 36.4 -40.5 58-293. 374. 6. 2. 11-9. 16 -298.0 14 71.1 -363.6 77.3 123.8 76.4 -62.2 42.1 -61.9 10 -290.3 59.4 43.7 69.3 37.8 35.3 93.8 44.7 -22.9 -130.0 35.8 -16.9 121.7 37.9 38.7 81.0 -41.4 30.7 ...... 24 0.0 0.0 20 0.0 0.0 19 0.0 0.0 0.0 17 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15 0.0 -65.6 0.0 0.0 0.0 6.3 0.0 0.0 0.0 0.0 -47.3 0.0 0.0 9 0.0 0.0 0.3 0.0 0.0 0.0 0.0 17.3 0.0 0.0 0.0 -5.9 0.0 0.0 0.0 0.0 9.3 0.0 0.0 6.0 0.0 2.1 0.0 0.0 0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

9 F26005 e ..icm eeps()28223327925527931039034222259 252.2 314.2 52 62 58 0.0 -467.0 -526.2 309.0 -443.9 60 55 -577.9 61 0.0 301.0 334.7 -0.0 141.7 -506.9 53 -653.0 1415.8 257.9 -514.1 320.7 140.5 51 -662.7 1.4 0.0 11.0 1393.0 -546.6 295.5 313.5 150.6 -633.8 54 -104.1 -27.4 -502.9 3.8 0.7 5.2 267.9 -631.9 299.0 146.5 19.7 -509.5 -126.1 -638.2 243.3 318.5 45 147.9 -5.4 -466.6 0.5 0.0 15.7 19.8 12.5 -575.3 218.2 312.9 50 146.4 -441.4 -518.8 125.1 -11.4 2.4 88.2 11.6 0.5 1.3 294.5 155.4 241.8 -0.5 298.5 5.9 97.2 164.0 -0.7 46 0.8 1.3 35.7 37 462.7 44 283.0 -7.9 142.3 3.5 -1.2 329.8 18.7 -7.3 374.3 -249.4 -1.5 1.5 6.5 47.1 24.9 -312.9 -60.5 27.0 0.8 32.8 -0.7 2.0 -232.6 62FA266000005=Balanceoncurrent account,NIPAs 123.1 147.8 4.6 -1.8 -71.1 6.8 61FA266400201+Curr.taxesandtrans. paymentsfromrestofworld 7.5 -208.9 -8.5 166.4 39 60FA266400101-Curr.taxesandtrans. paymentstorestofworld -68.4 525.2 -251.0 -81.2 59FA266904005+NetU.S.incomereceipts (7) 3.5 -7.7 9.4 321.8 194.1 58FA266903005NetU.S.exports,NIPAbasis -280.7 36 2713.9 Memo: 502.8 309.9 35 139.9 4.6 85.0 0.8 142.2 1.7 57FA267005005Discrepancy(FOFbasis) 10.3 21.7 808.2 59.4 -1.9 4.7 3.5 56FA263176005Policypayables 217.7 489.4 12.7 55FA263195105Accidentandhealthinsurancereserves 112.5 34 5.0 4.1 54FA263194735Netinvestmentbyholdingcompanies 1.0 112.3 34.1 53FA263191103Nonofficialforeigncurrencies 29 41.9 52FA313092803U.S.equityinIBRD,etc. 28 748.1 274.9 -1.7 361.0 2.9 189.5 51FA263190005Miscellaneousliabilities 27 -32.8 -107.5 50FA263192005U.S.directinvestmentabroad(4,5) 128.0 39.8 426.1 135.5 2.1 49FA263150005Pensionentitlements -275.0 0.7 115.9 297.9 1145.9 48FA263140005Lifeinsurancereserves 12.7 171.0 620.3 25 47FA263170005Tradepayables 352.8 20 342.9 249.7 2.0 303.7 46FA263164100Foreigncorporateequities(6) 100.3 -997.8 67.2 260.9 37.5 -190.0 127.8 27.3 21 45FA263169005Otherloansandadvances 9.1 170.6 268.4 608.2 96.4 44FA263168005Depositoryinstitutionloansn.e.c. 69.5 37.5 33.7 96.5 43FA264123005Loans 291.9 -161.6 10.4 116.9 42FA263163005Bonds 168.0 79.1 18 28.1 7.2 486.0 23.5 41FA263169105Commercialpaper 290.1 -186.3 1.2 -20.2 40FA264122005Debtsecurities 58.3 82.3 65.3 39FA262151003Securityrepurchaseagreements 99.5 7.2 321.5 38FA263191005U.S.privatedeposits 53.1 12 97.7 74.9 37FA263111005U.S.officialreserveassets -4.3 326.3 0.0 18.8 86.6 11.6 81.9 36FA264190005Netincreaseinliabilities 17.3 -0.0 9 23.7 -62.9 35FA263076005Miscellaneousassets(insurancereceivables) 9.1 14 -0.5 0.1 34FA263092001ForeigndirectinvestmentinU.S.(5) 3200.6 0.0 13 79.1 31.0 33FA543151905Pensionentitlements 486.7 300.5 57.8 -0.4 32FA543141905Lifeinsurancereserves -14.3 0.0 158.3 68.7 31FA263070005Tradereceivables 711.2 79.5 30FA263064203Mutualfundshares -0.5 -97.0 1328.0 29FA263064105U.S.corporateequities 0.0 81.6 107.2 28FA263069500LoanstoU.S.corporatebusiness 838.6 -0.4 611.7 0.0 60.1 103.0 27FA263063005U.S.corporatebonds(4) -0.5 10 26FA263062003Municipalsecurities 749.8 250.7 467.5 25FA263061705Agency-andGSE-backedsecurities 0.0 -0.5 1488.2 24FA263061105Treasurysecurities 323.7 444.3 23FA263069103Openmarketpaper 759.1 8 7 -0.0 342.3 507.4 2.8 22FA264022005Debtsecurities 141.7 1063.5 21FA262051005Securityrepurchaseagreements 3 406.4 514.5 0.0 20FA263034003Moneymarketfundshares 1148.7 140.5 -9.4 811.3 1 19FA263030005U.S.timedeposits 547.0 1160.4 4 150.6 18FA263020005U.S.checkabledepositsandcurrency 834.5 4093.9 334.7 1177.2 -0.5 503.3 17FA264016005Netinterbankassets 146.5 4230.8 1149.0 851.4 16FA313111303SDRallocations 320.7 506.7 4313.0 1158.8 15FA263011205Monetarygold(3) 147.9 876.2 313.5 4341.9 476.0 1106.2 146.4 14FA264090005Netacquisitionoffinancialassets 891.2 4363.8 299.0 957.9 441.9 155.4 4312.4 863.3 13FA265000005Netlending(+)ornetborrowing(-) 318.5 861.7 4281.3 164.0 838.3 312.9 3945.2 12FA265420005Nonproducednonfinancialassets 142.3 11FA265090005Grossinvestment 714.6 3665.9 294.5 643.5 10FA266000105Grosssavinglessnetcapitaltransferspaid(2) 298.5 9FA265440005-Netcapitaltransferspaid(1) 283.0 8FA266400201Curr.taxesandtrans.paymentsfromrestofworld 7FA266904001U.S.incomereceiptsfromrestofworld 6FA266903011U.S.exports 5FA266900005ForeignoutlaystoU.S. 4FA266400101Curr.taxesandtrans.paymentstorestofworld 3FA266904101U.S.incomepaymentstorestofworld 2FA266903001U.S.imports 1FA266905005ForeignincomefromU.S. Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.133 RestoftheWorld (7) Consistsofnetreceipts fromforeignersofinterest,corporateprofits, and employeecompensation.Equalsdifference between GNPandGDP. (6) IncludesAmericanDepositary Receipts(ADRs). (5) Directinvestmentis valued onamarketvaluebasis.Excludescapital gainsandlosses. (4) Through1992:Q4,corporatebondsincludenet issuesbyNetherlandsAntilleanfinancialsubsidiaries;U.S.directinvestmentabroadexcludes netinflowsfromthosebondissues. (3) U.S.netsales,signreversed. (2) Line1minusline59.Alsoequal toline62withthesignreversedminus9. (1) TableF.5,line67. 0621 0821 2019 2019 2018 2017 2016 20625. 50320. 50320. 45129. 4176 5 2421.7 3626.9 2497.7 3787.0 2495.1 3806.1 2504.0 2 3827.8 2520.3 2947.8 3817.2 2504.3 3075.6 3809.5 2510.3 3148.2 3771.8 2356.7 3166.7 3478.6 2220.6 3154.1 3224.6 3136.1 3148.5 2932.1 2739.4 179382148280508295273-57-3. 24 -933.8 -85.7 257.3 279.5 17 1399.0 540.8 50.1 248.0 55.1 114.8 308.2 -107.4 -107.9 -336.6 -84.7 48.9 104.0 -144.0 4. 5. 6. 7. 6. 5. 9. 87-6. 22 -668.9 98.7 696.1 457.6 661.8 478.5 169.9 653.7 11 341.7 486.7 158.3 -97.0 838.6 103.0 250.7 323.7 342.3 406.4 5. 19638. 298. 5. 00-1241 -61.2 40.0 38 94.1 156.1 97.2 88.8 89.5 52.9 -73.5 84.4 29.0 6.3 35.6 91.9 32.4 -59.2 255.6 -84.7 212...... 56 4.7 9.6 57 -19.2 2.7 286.0 7.8 604.5 48 5.5 -324.1 1.8 444.0 0.7 5.5 252.6 3.3 183.0 1.8 133.7 1.7 21.4 43 35.5 345.5 1.3 12.1 49.5 42 1.8 -178.7 122.4 352.3 159.1 -31.6 157.2 36.3 23.1 32 129.7 1.5 91.8 24.3 -146.6 51.6 0.1 123.2 114.9 17.4 0.5 292.3 30 32.1 -48.6 0.3 65.0 -75.9 0.2 -37.3 0.3 -240.3 23 -31.8 130.8 -9.3 -28.9 -55.7 89.2 2.7 19 28.7 428.8 -32.0 32.6 11.0 -25.6 -8.4 60.9 -18.0 5.0 41.5 -17.6 -10.8 -4.9 -6.8 36.6 37.0 16.9 70.8 59365...... 4149 14.1 1.9 4.9 3.1 2.6 3.1 58.7 3.6 -5.9 . . . . 86-. 19-. 1. 47 -14.9 -7.9 21.9 -0.7 -8.6 1.2 40 -239.9 2.4 392.3 33 7.7 2.2 313.4 218.5 2.7 0.4 -93.7 31 36.4 1.0 207.6 15.1 26 121.2 0.6 7.3 384.2 10.2 0.5 4.7 5.8 16.1 0.6 8.4 37.7 11.0 19.8 3.1 16 0.4 32.6 0.0 1.7 15 0.0 46.5 1.2 0.0 4.5 0.0 6.4 0.0 -0.5 0.0 7.1 0.0 0.0 7.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 49 2020

Transactions Transactions A1110 Fdrlgvrmn:SRalctos0000000000000000002 Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates 0.0 F.201 SpecialDrawingRights(SDRs)CertificatesandTreasuryCurrency 0.0 andthecounterpartsarerecordedasdecreases(increases)inassetsofrestworld. 0.0 (2) Byinternationalaccountingstandards,transactionsinmonetarygoldarerecordedthefinancialaccountofdomesticsectorsasincreases(decreases)assets, (1) IncludesfederalgovernmentliabilitytoIMFforspecialdrawingrights(SDRs)allocationsandaccruedinterest. 0.0 19FA713011505Otherreserves 18FA713011405ReservepositioninIMF 0.0 17FA713011203Monetarygold(2) 16FA713011005Monetaryauthority 0.0 15FA313111303SDRallocations 14FA263011205Monetarygold(2) 0.0 13FA263011005Restoftheworld 12FA313011505Otherreserves 0.0 11FA313011405ReservepositioninIMF 10FA313011303SDRholdings 0.0 9FA313011205Monetarygold(2) 8FA313011005Federalgovernment 7FA893011005Netchangeinassets 6FA263111503Otherreserves 5FA263111403ReservepositioninIMF 4FA313011303SDRholdings 3FA263111005Restoftheworld 2FA313111303Federalgovernment:SDRallocations 1FA893111005Netchangeinliabilities Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.200 U.S.OfficialReserveAssetsandSDRAllocations(1) 50 A0010 Dsrpny-nloae ses-361221402. 66-1. 5. 692235 212.3 3 -75.3 26.9 57.9 153.4 1 -119.1 -70.5 94.1 26.6 48.6 97.2 22.0 5.5 89.5 144.0 10.4 -73.5 122.2 29.0 -110.3 -73.6 119.0 35.6 3.7 32.4 255.6 -84.7 5FA903091005Discrepancy--unallocatedassets 4FA633091003Moneymarketfunds 3FA103091003Nonfinancialcorporatebusiness 2FA153091003Householdsector Heldby: 1FA263191005Totalrestoftheworldliability Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.202 U.S.DepositsinForeignCountries 5FA903012005Discrepancy(seigniorage) 4FA713012003Asset:Monetaryauthority 3FA313112003Liab:Federalgovernment Treasurycurrency: 2FA713014003Asset:Monetaryauthority 1FA713014003Liab:Federalgovernment SDRcertificates:

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 0200000000000000-. 18 -0.0 16 0.0 0.0 -0.0 0.0 0.1 0.0 0.1 0.0 0.1 0.0 0.1 0.0 0.0 0.0 0.0 -0.2 -0.1 9219-. . 0328711. 1. 4 -14.5 2 13.8 -28.3 7.1 -1.3 2.8 -0.5 -0.3 -5.8 5.8 -2.9 -2.6 -2.2 5 -0.6 0.8 1.9 -0.3 12.6 -9.2 -0.3 -5.6 -0.3 -0.4 -0.3 -0.4 -0.8 -1.0 ...... 000019 0.0 17 0.0 -0.0 15 0.0 0.1 0.0 14 0.0 13 0.0 0.0 0.1 0.0 0.0 12 0.0 0.0 0.0 11 0.1 0.0 10 3.1 9 0.0 0.2 -0.0 0.0 0.0 0.0 8 0.1 0.0 0.6 3.4 0.0 0.2 0.1 7 0.0 0.0 0.0 0.0 0.0 7.0 3.5 0.8 0.0 0.3 6 0.1 0.0 0.0 0.0 5 0.1 0.0 0.0 9.0 0.8 4 7.4 3.1 0.0 0.2 0.1 0.2 3 0.0 0.0 0.0 -0.0 0.0 0.0 0.5 7.5 3.5 9.3 0.6 0.0 0.2 0.1 0.2 0.0 0.0 0.0 0.3 0.0 4.3 9.4 0.8 1 0.8 7.0 0.0 0.2 0.0 0.3 3.5 0.0 0.0 0.2 0.0 4.8 0.8 7.5 4.6 9.0 0.0 0.2 0.0 0.2 0.8 0.0 0.0 0.2 -1.8 4.7 9.4 5.0 0.5 0.1 0.0 0.2 7.5 0.0 0.2 1.5 5.0 0.8 -1.7 4.3 0.7 0.2 9.4 0.0 0.0 -1.7 4.7 2.2 4.8 0.2 0.8 0.0 2.1 5.0 -1.8 0.1 4.7 0.1 -1.7 1.3 0.7 5.0 2.1 -1.7 2.1 ...... 4 0.6 3 -0.0 0.3 0.0 2 1 0.3 0.0 0.0 0.0 0.3 0.0 0.0 0.0 0.4 0.0 0.0 0.0 0.3 0.0 0.0 0.0 0.4 0.0 0.0 0.0 0.8 0.0 0.0 0.0 1.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

6 F73205 ak nUS-fiitdaes00-. . . 020602061246 1.2 45 0.6 5.0 48 19.7 0.2 -3.6 -9.9 -2.1 0.6 -10.8 -0.6 -13.9 -0.2 43 42 240.3 1399.0 39 2.7 4.7 41 0.3 50.1 0.7 -94.0 1.8 -8.0 -0.4 146.8 55.1 0.3 -7.2 40 -3.8 -1.2 -392.7 -11.5 -2.2 -107.4 36 38 12.8 -0.1 -4.3 330.4 1.5 -8.1 -336.6 -3.5 -3.0 2.1 37 -2.4 0.4 -84.7 0.0 33 11.4 3.8 -0.2 4.2 8.8 11.2 6.4 35 48.9 3.9 -9.2 -6.4 -0.2 9.2 7.1 7.1 0.6 -4.1 -5.4 104.0 34 -1.6 2.3 0.1 3.8 15.2 1.2 1.0 3.9 -144.0 2.1 5.6 32 1.0 -79.2 -1.3 -7.7 -20.2 31 -0.8 49FA904010005Unallocated(2) -0.6 -10.3 -1.0 1316.3 2.6 -6.9 185.9 -2.2 2.5 6.9 194.7 28 29 48FA754112205-Duefrom:ForeignbankingofficesinU.S. -0.9 -2.3 25 -29.9 -1.7 -9.8 172.6 165.2 -7.1 -0.2 -0.0 116.0 -3.1 -6.8 47FA474012205Creditunions -9.3 44.4 6.4 81.1 30 -3.2 26.4 2.7 0.1 46FA743020005BanksinU.S.-affiliatedareas -215.6 -3.5 1395.5 0.8 0.4 1.0 45FA754012205ForeignbankingofficesinU.S. -0.8 100.3 8.7 -0.4 -95.5 -83.9 14.2 3.9 44FA764112205Dueto(3): 2.3 0.1 3.7 0.3 75.2 43FA764112005U.S.-chartereddepositoryinstitutions(net) -0.1 -16.8 76.5 -1.1 -68.9 -2.6 145.8 TransactionsbetweenU.S.depositoryinstitutions(net): -7.4 27 23 0.5 -2.9 -101.6 7.4 306.3 17.1 -0.1 194.4 -34.6 -260.0 -1.6 3.4 42FA264016005Asset:Restoftheworld(1) 21 -8.2 0.1 -195.8 41.5 -9.4 14.5 115.1 8.9 22.7 -0.1 54.6 6.1 41FA284135125ForeignbankingofficesinU.S. -75.3 2.1 23.6 -35.2 -19.5 40FA274135123U.S.-chartereddepositoryinstitutions -11.6 0.3 -37.8 -98.1 0.1 67.0 39FA264035125Plus:Loansfromforeignbanks 2.8 54.4 8.9 37.3 145.4 17 0.3 123.4 38FA754035125ForeignbankingofficesinU.S. 0.2 0.0 -11.7 -177.3 37FA764035125U.S.-chartereddepositoryinstitutions -111.2 -6.1 -58.8 36FA264135125Loanstoforeignbanks -0.3 20 -18.8 -0.1 0.0 1278.9 2.2 16 19 35FA754016205ForeignbankingofficesinU.S. -18.2 193.9 87.2 0.1 2276.5 -0.8 34FA764016205U.S.-chartereddepositoryinstitutions 0.0 -72.6 -17.1 276.7 -1.7 33FA264116205Less:Depositsatforeignbanks 17.9 0.1 125.8 -214.1 -99.5 0.0 32FA753092605-Duefromforeignaffiliates -1.7 7.3 31FA753192605Duetoforeignaffiliates -85.2 -367.4 -0.0 11 30FA754116205ForeignbankingofficesinU.S.(net) 0.0 14.5 3.1 40.6 -44.5 3.0 -0.8 29FA763092605-Duefromforeignaffiliates -11.6 -111.4 0.0 18.9 0.9 28FA763192605Duetoforeignaffiliates -22.6 27FA764116205Liab.:U.S.-chartereddepositoryinstitutions(net) 142.3 8.9 -273.5 Transactionswithbanksinforeigncountries(net): 1.4 0.0 -122.6 47.3 -6.1 26FA713068705Loans 5 10 4.9 -0.0 25FA713022003FederalReservefloat -90.3 -1.2 1278.9 2.2 9 24FA714010005Asset:Monetaryauthority 193.9 -0.0 23FA714010005Liab:U.S.-chartereddepositoryinstitutions 2363.7 1.2 -0.6 Othertransactionswiththemonetaryauthority -72.6 294.5 -1.7 1.8 -0.2 133.1 -214.1 22FA473013005Creditunions -1.7 4 21FA743013003BanksinU.S.-affiliatedareas -85.2 -364.4 -0.6 20FA753013003ForeignbankingofficesinU.S. 1426.5 3.1 18.0 19FA763013005Asset:U.S.-chartereddepositoryinstitutions -44.5 -7.8 3 0.2 18FA713113003Liab.:Monetaryauthority 533.7 -111.4 20.3 Depositoryinstitutionreserves: 0.9 144.0 -42.1 142.3 -0.3 -268.6 17FA753025003ForeignbankingofficesinU.S. -277.1 -122.6 49.4 16FA763025000Asset:U.S.-chartereddepositoryinstitutions 48.5 -173.6 -0.3 15FA703025005Liab.:Monetaryauthority -78.6 -236.1 Vaultcash: -88.5 0.1 165.1 61.5 Memo: -15.9 -0.0 114.3 14FA904010005Discrepancy -31.1 -52.3 13FA264016005Restoftheworld -17.0 12FA473013005Creditunions 11FA743013003BanksinU.S.-affiliatedareas -89.0 10FA753020005ForeignbankingofficesinU.S. 9FA763020005U.S.-chartereddepositoryinstitutions 8FA714010005Monetaryauthority 7FA894010005Netchangeinassets 6FA474110005Creditunions 5FA744110005BanksinU.S.-affiliatedareas 4FA754110005ForeignbankingofficesinU.S. 3FA764110005U.S.-chartereddepositoryinstitutions 2FA714110005Monetaryauthority 1FA794110005Netchangeinliabilities Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.203 NetInterbankTransactions (3) Sumoflines45,46,47,and49. insourcedata,appearsonline14asthediscrepancy betweenliabilitiesandassets. (2) InterbanktransactionsbetweenU.S.banksshould nettozeroandthusarenotshowninlines1through13above.However,theunallocatedamount (line49),whichisduetoinconsistencies (1) Sumoflines27and30lessline3336 plusline39. 0621 0821 2019 2019 2018 2017 2016 210148-9. 719. 6732. 8. 71718 3701.7 486.4 23.2 -637.3 99.3 -7.1 -393.1 13 194.8 1399.0 50.1 -211.0 55.1 -107.4 -336.6 7 -84.7 5494.3 554.5 48.9 85.9 2 104.0 3789.0 -741.4 -144.0 504.2 -260.1 -90.3 30.5 1 5811.6 -339.2 -634.4 457.5 299.9 76.8 196.7 -354.1 -5.7 -1214.6 155.6 -388.2 -101.2 196.0 -354.1 -209.2 297.5 -351.4 0101-. 00-. . 00-. 0. 26 306.4 24 306.3 -0.3 0.1 -0.0 0.3 0.4 0.3 -0.2 -0.3 -0.0 0.1 -0.1 0.1 0.1 -0.0 -0.1 -0.8 8 306.3 0.1 6 0.3 63.6 0.3 3.7 -0.3 -26.9 0.1 -66.5 87.1 0.1 -0.6 -0.0 4.0 -0.8 4.1 -0.8 . 25-49-09457-7. 1. 9. 1. 49 317.3 47 -63.6 -97.1 -3.7 110.8 26.9 -473.2 415.7 44 66.5 260.0 -10.9 -103.8 -87.1 -14.9 135.9 0.6 -2.5 -406.7 333.1 -4.0 2.6 -10.4 -4.1 -20.8 0.8 -4.6 7.3 22 131.9 27.4 -38.9 -49.8 15 87.2 141.8 17.9 20.1 7.3 -6.4 3.0 2.1 14 -22.6 1.0 317.3 12 131.9 1.4 -97.1 27.4 110.8 4.9 -38.9 -473.2 1.2 415.7 -49.8 -10.9 141.8 1.8 -14.9 20.1 -2.5 -6.4 2.6 2.1 1.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 51 2020

Transactions Transactions 2 F43205 oenetsosrdetrrss7807-26-. 3621-. . 2. 32 429.4 1.3 30 29 31.6 -8.4 -0.2 13.8 2.1 -0.2 -3.4 26 -3.6 -0.2 -2.5 -8.1 -2.2 -0.2 8.5 8.4 -12.6 -0.2 17.8 2.7 0.7 -0.2 34.9 -1.3 40FA903020005Mailfloat 7.8 -0.2 8.3 39FA263025003Currency -10.4 0.1 17.4 38FA263027003Checkabledeposits 16 1.9 -1.1 37FA263020005Restoftheworld -1.7 -0.0 36FA713129003Otherfinancialbusiness -4.1 35FA663020003Brokersanddealers 4.3 34FA643020005REITs 13.6 33FA613020003Financecompanies -7.3 9.3 32FA403020005Government-sponsoredenterprises 13 195.2 31FA633020000Moneymarketfunds 0.5 9 -21.5 30FA223020043Stateandlocalgovt.retirementfunds -0.2 10 29FA343020033Federalgovernmentretirementfunds -14.1 8.2 4.8 28FA573020005Privatepensionfunds -1.6 27.0 20.9 3.5 27FA543020005Lifeinsurancecompanies 1.8 26FA513020005Property-casualtyinsurancecompanies 52.6 11.8 0.3 5 0.1 25FA793020005Domesticfinancialsectors 11.0 8 1.3 392.4 5.7 1758.1 24FA213020005Stateandlocalgovernments -7.3 -0.8 -17.0 23FA313020005Federalgovernment 185.3 -9.3 4 32.3 50.1 434.4 -0.1 355.6 22FA113020005Noncorporate 6.2 21FA103020000Corporate 16.1 4.5 307.2 3 -5.2 -0.1 20FA143020005Nonfinancialbusiness 638.7 -7.6 -296.9 3.3 -32.1 19FA153020005Householdsector -0.3 -71.0 137.8 -2.5 -1.1 3.7 18FA793120005Netchangeinassets 38.3 530.7 -0.1 5.9 -3.3 -370.8 17FA473127003Creditunions 135.7 -14.8 -82.2 92.6 16FA743127003BanksinU.S.-affiliatedareas 38.3 2.1 1.7 15FA753129205Privatedomesticdeposits 18.4 -6.8 14FA753122603Depositsduetoforeign 173.2 13FA753127005ForeignbankingofficesinU.S. -13.8 -170.2 12FA763129205Privatedomesticdeposits 65.6 -3.0 11FA763122605Depositsduetoforeign 10FA763128000Stateandlocalgovernmentdeposits 9FA763123005Federalgovernmentdeposits 8FA763127005U.S.-chartereddepositoryinstitutions 7FA713125005Currencyoutsidebanks 6FA713122605Depositsduetoforeign 5FA713129003Duetootherfinancialbusiness 4FA713124005Duetogovernment-sponsoredenterprises 3FA713123005Federalgovernmentcashanddeposits 2FA713120005Monetaryauthority 1FA793120005Netchangeinliabilities Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.204 CheckableDepositsandCurrency 52

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 5. 1. 3. 99-6. 0. 2. 49918. 21 1080.5 20 1298.6 -449.9 -424.1 628.5 653.8 405.9 18 3731.4 426.1 -264.7 225.9 -241.8 79.9 1085.2 103.5 238.0 52.9 258.6 -16.2 -317.3 10.6 154.1 261.7 178.9 315.3 145.4 270.2 2 1731.3 33.0 1 3731.4 685.9 225.9 -289.7 1085.2 -70.6 52.9 89.6 -317.3 259.5 261.7 -38.3 315.3 163.7 145.4 270.2 7. 7. 1331. 92-1. 19543227819 217.8 473.2 -119.5 -313.7 39.2 19.8 -103.3 177.5 -78.6 236. 535. 103. 647. 0. 39 38 104.1 186.0 37 290.1 70.3 -5.0 65.3 36 35 76.4 392.4 147.0 -1.5 74.9 37.4 -17.0 24.9 44.5 81.9 50.1 21.0 0.4 -11.9 9.1 -5.2 51.3 40.4 6.5 31 -89.9 -32.1 57.8 65.3 -69.8 14.2 193.9 -1.1 79.5 69.7 -1.0 -194.5 11.9 -3.3 81.6 42.3 112.2 7.3 17.8 67.8 38.3 60.1 -0.2 44.9 18.4 25 1278.6 13.1 -65.8 168.0 22 23 -7.5 -70.4 218.2 636.7 25.8 227.2 -71.1 22.0 -31.4 25.3 529.5 73.3 -369.2 20.2 -85.0 -84.8 22.9 1.0 48.5 23.6 173.5 37.9 20.7 -170.2 26.7 65.7 11 52.9 24.8 -0.7 12 1697.2 -9.2 166.7 7 351.3 53.6 217.0 252.2 -3.1 105.0 -283.6 10.1 102.0 121.6 82.6 31.1 15.0 58.5 136.4 2.1 74.0 87.0 12.8 96.4 107.4 82.7 96-. 43-. 22-. 28-. . 33 4.6 -2.1 -2.8 28 17.2 -0.8 1.9 -2.2 27 3.2 190.8 -2.0 -44.3 1.7 -4.3 38.2 1.3 -2.1 27.8 2.0 -9.6 -5.6 2.3 4.0 4.7 -0.4 17.6 -2.7 -7.7 15 110.9 -17.2 -22.1 36.2 61.4 6 48.9 14.6 -0.0 -6.5 -0.2 22.7 0.0 -0.5 -0.0 -0.1 -0.0 0.1 -0.0 . 01-. 0020-. . 631340 1.3 -6.3 5.0 -0.8 34 2.0 158.0 -12.7 -0.0 29.1 -0.6 22.3 -0.1 -3.6 0.4 8.8 -4.8 24 8.2 3.1 20.9 2.0 11.8 1.3 -9.3 6.2 17 47.8 -7.6 33.2 14 -2.5 84.3 44.2 -4.3 5.9 -1.0 7.9 -2.8 -9.2 18.4 21.3 -8.7 15.3 -3.6 3.8 -0.8 9.6 5.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

7 F43305 oenetsosrdetrrss34171. 44-2095-331. . 17 0.7 15 0.6 18.3 -13.3 13 1.0 -144.0 9.5 85.1 -0.3 -32.0 -21.9 -0.6 -4.4 134.3 0.6 39.0 12.7 0.2 59.1 1.7 4 2.3 9.8 -0.3 3.4 Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates -1.6 -0.4 32.6 F.206 MoneyMarketFundShares 7.1 0.5 -284.9 3 -197.1 3.2 20FA263030005Restoftheworld 195.7 -3.3 -86.3 19FA733030003Holdingcompanies 2 18FA613030003Financecompanies 2401.7 53.5 1.4 17FA403030005Government-sponsoredenterprises 392.5 193.9 16FA633030000Moneymarketfunds 0.4 547.1 15FA223030043Stateandlocalgovt.retirementfunds 89.2 14FA573030005Privatepensionfunds 708.1 -4.6 -1.9 395.7 13FA793030005Domesticfinancialsectors 2.5 510.9 25.9 12FA213030000Stateandlocalgovernments 11FA313030003Federalgovernment 491.9 -142.5 265.9 10FA113030003Noncorporate 9FA103030003Corporate 600.2 8FA143030005Nonfinancialbusiness 7FA153030005Householdsector 6FA703130005Netchangeinassets 5FA473130005Creditunions 4FA743130003BanksinU.S.-affiliatedareas 3FA753130005ForeignbankingofficesinU.S. 2FA763130005U.S.-chartereddepositoryinstitutions 1FA703130005Netchangeinliabilities Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.205 TimeandSavingsDeposits 0 F23305 tt n oa ot eieetfns1. 30-. . 67-61-. 756. 10 65.7 27.5 7 -12.1 5 -6.6 -4.5 107.1 -16.1 7.7 1.6 16.7 4 7.5 14.5 486.9 5.4 62.1 5.8 -1.6 -1.2 122.5 2.5 6.7 -3.0 102.7 2.7 6.9 81.5 11.1 4.0 92.2 8.0 -33.4 -6.8 9.1 35.6 12FA263034003Restoftheworld 2.6 -112.5 11FA503034005Otherfinancialbusiness 10FA223034005Stateandlocalgovt.retirementfunds 9FA573034005Privatepensionfunds 8FA543034005Lifeinsurancecompanies 7FA513034005Property-casualtyinsurancecompanies 6FA213034003Stateandlocalgovernments 5FA113034003Nonfinancialnoncorporatebusiness 4FA103034000Nonfinancialcorporatebusiness 3FA153034005Householdsector 2FA634090005Netpurchases 1FA634090005Netissues 0621 0821 2019 2019 2018 2017 2016 2713. 176. 131061. 83-6. 16 -163.3 78.3 12.8 130.6 51.3 68.2 11.7 36.7 -257.1 7. 9. 8. 2. 3. 4. 3. 9. 3097 1380.9 6 497.9 2297.0 530.5 696.6 548.4 505.4 531.6 822.6 1 527.1 710.2 2297.0 389.9 683.7 696.6 191.0 530.1 505.4 675.1 338.4 822.6 534.6 710.2 683.7 530.1 338.4 534.6 0. . . 544. 377. . 1. 11 213.8 9.2 75.0 93.7 43.6 55.4 7.5 7.4 105.2 2. 64-30-. 68-. 85-. 3918 13.9 -6.4 -8.5 -2.3 -6.8 -6.0 -13.0 -6.4 -28.9 1. . 731. . . 372. 0. 12 100.3 27.3 33.7 7.2 8 134.6 7.2 -13.8 18.8 21.7 17.3 18.5 0.1 -11.9 3.6 -14.3 6.7 2 3088.4 1 474.0 3.6 3088.4 791.1 474.0 -13.4 673.0 791.1 445.8 673.0 596.0 445.8 189.9 596.0 117.2 189.9 -11.1 117.2 -11.1 081. 66-. 1. 15-80-5648820 428.8 -25.6 -18.0 41.5 -17.6 -4.9 36.6 16.9 10 9 270.8 301.0 70.8 8 77.4 60.4 571.8 75.6 137.8 -75.8 57.7 -0.2 10.2 5 67.4 67.9 56.3 90.1 69.5 123.8 12.8 109.9 82.3 80.1 37.4 5.8 85.9 91.1 57.7 -7.7 83.4 48.2 123.8 17.5 82.2 65.7 39.8 51.3 74.3 21-. 24012. 36-36-. 3819 -3.8 -6.8 14 7.9 -13.6 0.7 -3.6 11 24.4 1.0 -1.6 0.1 0.7 -1.3 -2.4 1.4 1.3 -2.5 1.0 1.0 -2.1 1.1 0.1 3.6 0.3 -0.7 0.1 0.4 -0.2 . 41791. 332. 35276. 12 61.1 2.7 13.5 29.5 33.3 19.8 7.9 14.1 8.2 ...... 489 34.8 2.0 3.8 6 15.5 2.2 0.8 2.3 2.2 2.6 -0.1 3 3.2 -2.0 1941.8 355.7 0.6 0.2 529.7 4.4 -2.1 444.8 303.4 0.3 408.4 5.4 181.2 59.4 7.3 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 53 2020

Transactions Transactions 5 F72515 te iaca ntttos()1. 3. 2. 50-. . 286. 6. 45 -68.8 68.8 44 43 952.0 883.3 -2.8 159.3 228.1 -146.2 2.7 -149.0 171.6 174.3 -8.7 -155.7 -164.5 7.2 15.0 22.2 -29.3 -248.5 -277.7 37 -115.3 -148.8 -33.5 92.0 -20.6 -6.2 36 14.3 -165.0 -18.3 33 32.4 1.3 -75.5 -87.1 -2.1 29 2.2 30 -0.3 29.3 1.8 84.6 -0.5 123.7 0.6 1.0 -2.9 24.6 45FA792051115Otherfinancialinstitutions(6) -1.3 -0.2 44FA632051103Asset:Moneymarketfunds(5) -0.4 -11.3 -25.0 43FA712151103Liability:Monetaryauthority(4) 1.3 16.9 0.8 0.3 10.6 26 FederalReserve’sreverserepurchaseagreementoperations: -208.5 0.4 6.3 24 0.8 2.1 1.5 Memo: -88.3 -207.4 -0.1 -95.5 23 78.1 0.5 42FA902050005Discrepancy 0.6 -97.6 85.0 -0.2 74.1 41FA262051005Restoftheworld 93.2 -0.1 -0.0 67.4 1.0 21 179.7 40FA502051003Otherfinancialbusiness -185.5 -108.4 18 0.1 0.0 39FA732051003Holdingcompanies 47.4 183.2 60.9 88.2 104.5 38FA662051003Brokersanddealers 60.0 0.0 6.5 -0.1 -176.2 50.6 -108.8 37FA402052033Ofwhich:FHLBfederalfunds(3) 67.8 36FA402050005Government-sponsoredenterprises 50.9 -28.2 74.8 -0.6 -93.5 164.5 12 35FA652051003Mutualfunds 75.1 -25.2 0.0 -7.2 34FA632051000Moneymarketfunds 0.8 -24.3 -25.4 33FA222051043Stateandlocalgovt.retirementfunds -9.9 0.0 160.3 32FA572051005Privatepensionfunds 6.8 4.0 31FA542051075Lifeinsurancecompanies -2.8 0.0 30FA512051005Property-casualtyinsurancecompanies 10 0.7 8.7 -25.0 29FA472051053Securityrepurchaseagreements 0.0 28FA472052053Federalfunds 0.0 -50.7 27FA472050053Creditunions 0.0 8 25.7 6 -0.1 26FA752051005Securityrepurchaseagreements 232.2 258.1 25FA752052005Federalfunds(2) 0.0 33.8 24FA752050005ForeignbankingofficesinU.S. -0.1 33.2 5 54.8 0.0 68.3 23FA762051005Securityrepurchaseagreements 0.1 62.1 22FA762052005Federalfunds(2) 3 -29.6 21FA762050005U.S.-chartereddepositoryinstitutions 112.2 0.0 90.2 -0.0 96.4 109.9 -33.7 20FA712051000Monetaryauthority 0.2 0.0 -53.1 -0.2 20.4 45.1 19FA212051003Stateandlocalgovernments 105.6 18FA102051003Nonfinancialcorporatebusiness 46.4 -0.0 1.5 -38.9 7.4 17FA892050005Netchangeinassets -48.9 -1.0 85.0 25.6 35.7 79.2 16FA262151003Restoftheworld 59.8 -21.5 23.9 66.7 15FA732151003Holdingcompanies -5.3 14FA662151003Brokersanddealers -27.3 13FA642151073REITs -27.8 12FA402150005Government-sponsoredenterprises 7.9 11FA542151073Lifeinsurancecompanies 10FA512151003Property-casualtyinsurancecompanies -34.2 9FA472150053Creditunions 8FA752151005Securityrepurchaseagreements 7FA752152005Federalfunds(2) 6FA752150005ForeignbankingofficesinU.S. 5FA762151005Securityrepurchaseagreements 4FA762152005Federalfunds(2) 3FA762150005U.S.-chartereddepositoryinstitutions 2FA712151003Monetaryauthority 1FA892150005Netchangeinliabilities Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.207 FederalFundsandSecurityRepurchaseAgreements(1) 54 (6) Includesbanks(consolidated),government-sponsored enterprises,andprimarydealers. (5) Includedinline34. (4) Includedinline2. (3) Includestermfederalfunds. (2) Excludestermfederalfunds. 1997:Q1forcreditunions,and2000:Q1FHLB. (1) Detaileddataonfederalfundsandsecurityrepurchaseagreementsareavailablebeginning2012:Q1 forU.S.-chartereddespositoryinstitutions,2003:Q1foreignbankingofficesinU.S.,

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 5. 4. 3. 9. 3. 5. 224-3. 17717 16 2137.7 525.2 -336.1 -280.7 1202.4 502.8 858.9 10.3 637.7 217.7 590.7 112.5 335.3 41.9 241.6 150.3 -32.8 115.9 5. 246-7. 232-9. 77-4. 333-9. 42 -497.4 -333.3 38 -243.0 347.8 57.7 -282.2 -494.0 413.2 -253.2 178.8 -278.0 13.3 -214.6 -55.6 80.8 206.2 -3.7 -20.6 13 14 -452.0 243.8 26.0 -474.9 369.1 17.5 368.4 121.7 -36.4 123.1 56.6 72.1 305.9 43.3 79.4 54.9 -55.2 -10.6 873. 6. 169. 232. 11668241 608.2 -161.6 28.1 82.3 97.7 11.6 -62.9 34 1562.7 31.0 -170.1 138.1 68.7 435.0 219.6 155.7 63.0 154.8 80.9 2 929.7 1 93.1 1640.2 -669.4 -88.0 959.4 320.1 916.6 -194.7 143.7 32.6 337.6 -259.9 57.4 -161.3 27.0 12.8 94.7 0049-. . 09-. 0437-. 39 -0.0 3.7 -0.4 -0.8 32 0.2 -0.9 31 13.9 0.1 0.4 2.6 0.1 -4.0 4.0 4.9 0.1 5.3 25 1.2 -0.0 0.1 4.6 -7.2 0.1 4.1 6.9 0.1 0.2 -6.7 0.4 -0.4 3.5 -0.1 -0.4 -0.9 0.3 15 -0.0 0.3 0.0 -0.2 0.0 9 0.0 0.0 -0.0 -0.0 -0.0 0.0 -0.0 0.0 4 -0.0 41.6 -0.0 -0.0 -23.5 -0.0 -4.3 -0.0 -13.0 -0.0 34.2 -0.0 -1.7 -5.8 13.2 -6.4 ...... 40 0.0 0.0 0.0 0.0 35 0.6 0.0 1.7 0.0 -18.6 0.0 28 7.7 27 0.2 -0.1 0.0 93.9 -0.5 0.1 0.0 21.2 0.4 0.2 -16.4 -0.2 0.6 14.0 22 0.8 -10.9 2.3 1.6 11.3 0.1 20 19 0.6 28.4 6.3 9.3 0.1 0.0 212.5 6.3 -20.4 0.0 810.0 0.1 15.3 7.5 0.0 0.0 3.9 0.0 -6.4 0.0 -4.1 1.4 255.6 3.2 0.0 2.2 11 38.4 1.9 0.0 -12.1 -13.0 1.8 0.0 -9.6 7.4 7 -1.5 25.9 -2.1 -0.6 -6.5 -6.2 2.7 -22.0 33.9 -0.3 1.3 0.2 -10.0 -5.8 6.9 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

7 F44205 oenetsosrdetrrss-. 3. . 843. 199. 854. 47 49.5 38.5 94.3 61.9 42 38.6 156.7 39 47.7 375.4 58.4 36 -3.5 4.5 -44.9 3.0 41 38 11.1 165.4 69.9 78.1 185.0 -38.6 35 119.6 7.5 30.7 104.4 70.3 167.5 -4.2 1340.0 -93.5 141.4 28.1 30.1 37.8 -141.3 54FA264022005Restoftheworld 124.6 12.9 -866.8 11.2 4.0 70.0 34 53FA504022005Otherfinancialbusiness 112.9 89.1 629.8 52FA734022605Holdingcompanies 15.9 48.8 52.5 51FA664022005Brokersanddealers 32 309.3 13.2 52.4 29 31 77.0 6424.6 -55.8 -20.6 -106.3 29.7 -83.2 5.3 50FA644022005REITs 1795.1 5.1 455.0 28 135.7 194.2 49FA613063003Financecompanies -30.1 10.9 132.1 3116.6 100.9 43.7 48FA674022005ABSissuers 221.1 26.3 267.6 1.6 26.4 61.6 47FA404022005Government-sponsoredenterprises -0.1 247.1 33.0 121.0 -217.7 27.3 46FA564022005Exchange-tradedfunds 162.2 1.4 243.9 26 -3.6 45.4 -111.9 1325.1 45FA554022005Closed-endfunds -529.5 50.5 5.1 44FA654022005Mutualfunds 75.3 1091.3 -27.3 -362.7 -0.3 43FA634022005Moneymarketfunds 860.3 1.0 34.7 -109.7 110.5 1.7 42FA224022045Stateandlocalgovt.retirementfunds 1183.0 -7.3 288.7 41FA344022005Federalgovernmentretirementfunds 559.4 68.8 40FA574022005Privatepensionfunds 7.2 105.9 913.1 19.1 39FA544022005Lifeinsurancecompanies 286.2 6.9 38FA514022005Property-casualtyinsurancecompanies 28.8 712.5 15 37FA474022005Creditunions 2.8 32.7 -4.1 -16.4 36FA744022003BanksinU.S.-affiliatedareas 35FA754022005ForeignbankingofficesinU.S. -5.4 30.4 34FA764022005U.S.-chartereddepositoryinstitutions 33FA714022005Monetaryauthority 4.4 16 12 14 1372.6 17 2.7 32FA794022005Domesticfinancialsectors 13 36.3 118.0 2070.1 169.8 9 2.9 31FA214022005Stateandlocalgovernments 323.7 -11.5 139.3 -1.3 137.8 223.1 30FA314022005Federalgovernment -11.5 444.8 95.9 15.6 -4.5 255.1 -82.9 29FA114022005Nonfinancialnoncorporatebusiness 523.6 -2.4 171.4 28FA104022005Nonfinancialcorporatebusiness 108.7 -78.3 -1.4 -21.2 10 27FA154022005Householdsector 471.6 204.9 2.7 670.2 114.8 -40.0 -47.5 -3.2 440.9 26FA384022005Domesticnonfinancialsectors 81.1 -59.3 114.7 8.8 -38.2 -11.1 355.6 -4.1 25FA894122005Netpurchases 8 165.9 381.9 153.1 24.2 6.4 344.6 3395.9 -51.0 193.8 248.2 194.2 -3.3 24FA264122005Restoftheworld 815.1 389.5 -54.3 -0.4 157.5 472.7 6 23FA504122005Otherfinancialbusiness 3089.3 -2.2 -24.0 1115.7 22FA734122005Holdingcompanies 260.9 33.3 542.5 292.8 21FA663163003Brokersanddealers 1.6 140.3 1318.1 20FA644122005REITs 762.9 4 1441.2 320.5 -2.9 19FA614122005Financecompanies 1490.5 630.0 1496.8 286.8 18FA674122005ABSissuers 308.2 768.7 419.2 17FA413065005Agency-andGSE-backedmortgagepools 16FA403161705Government-sponsoredenterprises 316.8 1159.9 526.2 15FA753169175ForeignbankingofficesinU.S. 363.0 14FA764122005U.S.-chartereddepositoryinstitutions 344.5 283.3 607.9 13FA794122005Domesticfinancialsectors 317.8 370.1 12FA213162005Stateandlocalgovernments 245.5 11FA314122005Federalgovernment 346.9 10FA104122005Nonfinancialcorporatebusiness 351.6 9FA163162003Nonprofitorganizations(2) 8FA384122005Domesticnonfinancialsectors 7FA894122005Netissues Bysector 6FA893163005Corporateandforeignbonds 5FA383162005Municipalsecurities 4FA893161705Agency-andGSE-backedsecurities 3FA313161105Treasurysecurities 2FA893169175Openmarketpaper 1FA894122005Netissues Byinstrument Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.208 DebtSecurities(1) (2) Liabilityofthehouseholds andnonprofitorganizationssector(tableF.101). (1) Sumofopenmarket paper, Treasurysecurities,agency-andGSE-backed securities,municipalandcorporate andforeignbonds. 0621 0821 2019 2019 2018 2017 2016 55119. 93728. 65918. 87413. 26225 5226.2 1531.1 3847.4 1284.6 1695.9 2089.8 1973.7 1497.5 1555.1 7 5226.2 1531.1 3847.4 1284.6 1695.9 2089.8 1973.7 1497.5 1 1555.1 5226.2 1531.1 3847.4 1284.6 1695.9 2089.8 1973.7 1497.5 1555.1 102-141. 515. 271676. 6. 18 161.4 61.3 146.7 -2.7 55.1 65.1 10.6 -41.4 -100.2 4. 5. 6. 7. 6. 5. 9. 87-6. 54 -668.9 53 98.7 -175.7 -26.9 696.1 457.6 -253.1 -89.4 661.8 -51.8 478.5 169.9 -105.3 -14.5 653.7 44 62.5 341.7 -894.2 43 1780.3 527.2 104.7 251.8 328.8 826.0 250.2 -136.4 261.8 334.4 342.0 319.0 196.2 181.7 383.7 -68.1 246.7 166.3 22 371.5 -89.1 -28.9 139.3 158.0 44.8 -46.9 94.4 165.2 11 2734.6 741.1 2693.1 375.8 889.5 1174.9 1409.8 447.0 842.7 3 2734.7 742.1 2695.3 376.6 892.4 1176.6 1411.2 447.0 842.8 2. 672. 181198. 591. 59550 -529.5 10.7 25.9 88.8 121.9 61.8 26.9 56.7 -26.4 33 4281.5 615.8 -264.5 -518.9 -382.3 -137.5 27 -379.5 -534.7 -10.9 -629.4 -153.7 -35.8 730.2 1024.4 242.9 796.0 19 49.6 -44.9 -66.2 -74.2 27.9 -65.6 -71.3 -43.8 44.1 -51.2 -67.1 2 -126.3 25.2 44.5 0.7 126.8 49.3 30.0 81.1 -56.6 13-. 5. 7. 139-52-. 1044. 51 40.0 -110.4 -7.6 -65.2 46 -113.9 43.3 -74.3 156.2 154.7 146.1 -2.7 155.5 40 11.3 135.4 372.0 148.3 78.5 99.0 141.3 122.0 123.9 84.0 157.5 125.3 176.6 145.7 50.0 23 -363.6 20 77.3 -40.1 76.4 75.3 -61.9 72.4 59.4 73.1 37.8 51.6 44.7 68.1 -16.9 31.0 37.9 21.6 21.8 5 11.6 162.9 27.9 -85.7 -25.7 19.8 -57.6 14.7 47.3 84-. . 261. . 031. 4048 -4.0 15.8 10.3 8.9 15.5 12.6 8.1 37 -8.2 -0.2 -8.4 35.0 3.7 -11.7 17.4 11.1 -9.1 -5.7 -1.6 21 331.7 -37.4 -90.1 95.9 -8.5 -10.0 -1.7 56.5 -2.2 . 443. 90622. 481. 5. 52 -53.9 17.9 64.8 49 13.7 45 27.0 3.6 12.5 6.2 -0.1 10.4 29.0 6.4 -11.0 31.5 -13.9 1.5 -0.5 14.4 5.1 3.2 -4.5 3.2 -10.6 9.9 2.2 1.2 30 0.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24 -239.9 0.0 392.3 313.4 0.0 218.5 -93.7 207.6 121.2 384.2 5.8 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 55 2020

Transactions Transactions 1 F43615 oenetsosrdetrrss0505050330-. . . . 31 4.2 0.8 0.1 -2.8 28 -2.3 3.0 25.1 23 25 0.0 0.3 -10.9 -6.1 2.8 0.0 0.5 22 -14.7 110.2 -4.7 0.0 15.3 0.5 0.0 -1.7 4.9 0.0 0.5 0.0 19 17 38.3 0.0 5.4 -1.2 0.0 0.0 60.0 16 0.0 0.5 -2.2 0.0 0.0 0.0 189.1 11.7 0.0 -2.2 94.6 0.0 0.0 34FA263069103Restoftheworld 0.0 -8.9 -8.1 0.0 33FA503069105Otherfinancialbusiness 0.0 0.0 0.0 32FA663069103Brokersanddealers 11.1 83.9 0.0 31FA403069105Government-sponsoredenterprises 0.0 9 0.0 0.0 38.4 32.7 30FA653069100Mutualfunds 0.0 0.0 29FA633069175Moneymarketfunds 0.0 -8.8 -5.4 0.0 28FA223069143Stateandlocalgovt.retirementfunds 0.0 -6.9 27FA573069105Privatepensionfunds 4.4 8 18.7 0.0 0.0 26FA543069105Lifeinsurancecompanies 2.9 25FA513069105Property-casualtyinsurancecompanies -1.9 0.0 3 0.0 24FA473069153Creditunions -11.5 -32.4 -41.4 23FA753069603ForeignbankingofficesinU.S.(1) -2.4 0.0 22FA763069175U.S.-chartereddepositoryinstitutions(1) -23.1 -10.6 21FA713069603Monetaryauthority -9.5 2.7 -23.6 20FA213069103Stateandlocalgovernments -19.3 -60.7 -11.1 19FA103069100Nonfinancialcorporatebusiness 12.0 88.7 6.4 18FA893169175Netpurchases -19.2 -1.1 17FA753169603ForeignbankingofficesinU.S. -8.0 16FA763169603U.S.-chartereddepositoryinstitutions -10.2 15FA703169605Bankers’acceptances(1) 25.9 14FA503169105Otherfinancialbusiness 13FA733169103Holdingcompanies 1.8 12FA643169173REITs 11FA613169100Financecompanies 10FA673169105ABSissuers 9FA753169103ForeignbankingofficesinU.S. 8FA763169103U.S.-chartereddepositoryinstitutions 7FA793169100Domesticfinancialsectors 6FA263169123Financial 5FA263169110Nonfinancial 4FA263169105ForeignissuesinU.S. 3FA103169100Nonfinancialcorporatebusiness 2FA893169105Commercialpaper 1FA893169175Netissues Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.209 OpenMarketPaper 56 (1) Excludesbanks’holdingsofownacceptances.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 2764. 114. 884. 62-. 3. 29 -35.8 -5.9 56.2 45.0 78.8 43.5 41.1 42.9 -217.6 0. 89-26-0. 5. 9. 267-44-1. 33 -219.1 -14.4 -256.7 -92.9 -57.9 -105.5 -12.6 58.9 108.8 5. 113. 93168074. 52-2. 18 -126.3 25.2 44.5 0.7 126.8 49.3 30.0 6 81.1 -69.0 4 -56.6 -61.2 24.2 40.0 195.7 2 66.3 156.1 -126.3 1 88.8 25.2 26.6 -126.3 52.9 25.2 44.5 78.2 84.4 44.5 0.7 -0.1 6.3 0.7 91.4 126.8 49.3 91.9 -59.7 126.8 49.3 30.0 -59.2 30.0 81.1 81.1 -56.6 -56.6 70-. 1. . 84-208. 2. 3. 34 -31.8 -28.9 89.2 -32.0 -8.4 5.0 -10.8 -6.8 37.0 57-. . 2999-. . 2. 8732 48.7 -20.9 7.2 27 -14.8 -7.8 1.0 9.9 1.4 -2.9 1.0 2.1 1.7 -4.5 1.3 -5.7 1.4 3.8 -0.5 13 -1.8 8.1 10 -10.2 -21.2 0.8 -6.2 1.0 7.4 -0.1 -15.3 -6.8 1.5 -5.2 2.2 15.9 -3.5 -15.4 -0.7 . 40-642. 771. 2. . 3730 -3.7 9.5 26 -24.7 -8.0 24 1.8 12.2 -8.0 21 1.1 87.7 0.0 -10.1 21.2 20 0.0 0.0 2.1 -3.0 -16.4 0.6 0.0 -1.5 3.0 14.0 0.4 -4.4 0.0 3.6 2.3 15 -4.9 0.5 0.0 -3.1 0.0 -8.6 0.2 0.7 0.0 0.0 12 14 2.2 0.0 -65.6 -0.0 1.0 0.0 0.0 11 6.3 0.0 4.5 0.0 -5.7 0.0 0.0 -47.3 0.0 7.4 0.9 0.0 0.0 0.3 0.0 -15.1 0.5 0.0 17.3 5 7 -5.5 0.0 7.8 -32.7 -5.9 0.0 8.9 8.3 0.0 15.8 9.3 0.0 -1.1 -102.2 -39.6 0.0 6.0 -27.4 0.0 -7.5 22.5 0.0 -14.7 2.1 26.3 0.7 -34.0 0.0 6.3 4.6 33.9 6.4 -36.8 0.8 0.5 0.5 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

5 F23610 te rauyscrte 5. 7. 222914265774. 2. 10. 55 -1000.1 122.2 44.0 527.7 49 57.5 462.6 289.1 69.7 72.2 55.8 273.9 56.8 -52.0 43 167.0 40.3 260.2 55.6 168.6 40 14.4 8.7 25.7 39 64.1 -1.1 19.3 36 73.2 76.4 30.1 14.9 -88.5 131.9 14.2 800.9 33.5 41.1 15.3 23.8 55FA263061120OtherTreasurysecurities 47.3 -141.3 37 54FA263061110Treasurybills -851.8 12.5 172.9 132.9 53FA263061105Restoftheworld 2.9 -1.4 117.8 10.0 52FA733061103Holdingcompanies 184.5 57.7 1337.0 51FA663061105Brokersanddealers 15.1 50FA673061103ABSissuers 26 -143.8 -152.8 -13.2 70.9 49FA403061105Government-sponsoredenterprises -869.3 17.4 16.0 48FA563061103Exchange-tradedfunds 28 11.2 25 21.4 110.4 48.1 47FA553061103Closed-endfunds -58.7 12.1 309.3 -2.6 13.3 46FA653061125OtherTreasurysecurities -36.5 14.6 45FA653061113Treasurybills -84.3 11.4 -26.2 1.6 44FA653061105Mutualfunds 99.8 24 -11.5 65.7 3.6 43FA633061120OtherTreasurysecurities 23 -6.3 42FA633061110Treasurybills 3452.4 -3.8 48.6 41FA633061105Moneymarketfunds 5.9 209.0 1.8 -7.0 40FA223061143Stateandlocalgovt.retirementfunds 300.6 -17.5 5.3 18 -9.9 17 140.3 -157.1 -270.7 7.9 39FA343061155Definedcontributionplans -21.5 16 38FA343061165Definedbenefitplans 155.4 -198.0 12.8 1.9 29.4 68.2 10.4 37FA343061105Federalgovernmentretirementfunds(3) 34.0 14 -69.3 21.0 -5.4 125.6 3.3 1.1 1.1 -0.3 36FA573061133Definedcontributionplans -243.3 11.3 -129.0 35FA573061143Definedbenefitplans 87.3 -3.8 -21.7 15 25.3 -20.4 34FA573061105Privatepensionfunds -3.5 -62.8 -989.9 -43.2 -13.3 -4.3 -33.2 -869.9 33FA543061125OtherTreasurysecurities -3.9 11 -0.1 21.3 96.0 32FA543061115Treasurybills -140.5 6.9 -4.7 31FA543061105Lifeinsurancecompanies -64.4 1.6 722.2 -15.3 9 30FA513061125OtherTreasurysecurities -5.0 -10.2 -11.4 1217.3 66.7 -9.3 29FA513061115Treasurybills 6.5 232.3 72.4 -15.6 28FA513061105Property-casualtyinsurancecompanies -4.4 29.6 -9.5 614.3 6.1 30.1 8 27FA473061105Creditunions -4.7 10 799.3 -35.8 9.7 26FA743061103BanksinU.S.-affiliatedareas 18.3 110.4 4.2 2.0 25FA753061103ForeignbankingofficesinU.S. 5 13.8 -5.4 107.9 87.3 24FA763061100U.S.-chartereddepositoryinstitutions -4.0 0.0 6 93.9 -853.1 202.7 -5.8 23FA713061125OtherTreasurysecurities 536.8 -0.3 31.8 0.0 -2.6 22FA713061113Treasurybills 191.7 -152.9 21FA713061103Monetaryauthority -47.4 -1.1 1354.2 2 184.6 -17.7 4 0.0 20FA213061103OtherTreasurysecurities 2532.0 -200.7 1364.3 -32.1 -153.6 1.6 113.4 19FA213061120SLGS(line8) 550.4 -889.6 685.9 -6.1 18FA213061105Stateandlocalgovernments 15.4 11.6 126.3 113.9 1341.1 949.3 0.0 17FA113061003Nonfinancialnoncorporatebusiness 577.3 70.0 -26.3 279.6 1233.0 16FA103061103Nonfinancialcorporatebusiness 1782.0 -17.3 1080.5 -107.3 85.8 -1.5 15FA153061185OtherTreasurysecurities 1062.7 987.2 131.5 34.6 14FA313161400U.S.savingssecurities(line7) 1131.6 -1.1 745.9 13FA153061105Householdsector 554.4 419.1 -1.6 12FA893061105Netpurchases 711.2 408.6 -2.0 11FA313161375Othernonmarketablesecurities 10FA343061145Federalgovt.definedbenefitpensionplans 9FA343061123ThriftSavingsPlanGFund 8FA213061120Stateandlocalgovernmentseries(SLGS) 7FA313161400U.S.savingssecurities 6FA313161305NonmarketableTreasurysecurities 5FA313161283HeldintheCivilServiceRetirementFund(2) 4FA313161275OtherTreasurynotes,bonds,andTIPS 3FA313161110Treasurybills 2FA313161205MarketableTreasurysecurities 1FA313161105Netissues Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.210 TreasurySecurities(1) (3) ComprisedprimarilyofnonmarketableTreasury securities. (2) Long-termmarketablesecuritiesissuedtothe CivilServiceRetirementFundbytheFederalFinancingBank.Thesesecuritiesarenotcurrently tradedinthemarket. opposedtointragovernmentalholdingsasreported ontheMonthlyStatementofPublicDebt. IntheFinancialAccounts,nonmarketablegovernment securitiesheldbyfederalgovernmentemployeedefinedbenefitretirementfundsareconsidered partofthefinancialbusinesssectoras (1) IncludesmarketableandnonmarketableTreasury securitiesheldbythepublic(netofpremiumsanddiscounts)Treasury federalgovernmentemployeeretirementfunds. 0621 0821 2019 2019 2018 2017 2016 179382148280508295273-57-3. 53 -933.8 -85.7 257.3 279.5 540.8 248.0 114.8 308.2 -107.9 7. 661953. 84-1. 5. 17883942 893.9 41 -177.8 1060.9 555.7 82.4 -311.9 724.3 58.4 -286.2 31.1 131.6 163.0 129.5 170.6 46.6 -94.7 178.9 311.7 13 -995.3 -873.7 12 2734.7 -144.8 742.1 717.6 2695.3 1212.2 376.6 227.8 892.4 609.6 1176.6 -41.2 1411.2 3 102.1 1167.7 447.0 -135.5 842.8 391.7 1 2734.7 -649.5 742.1 701.4 2695.3 77.0 376.6 386.9 892.4 136.9 1176.6 304.6 1411.2 447.0 842.8 5. 434. 4. 81-4. 1. 2796. 54 66.3 -207.9 213.3 -248.3 78.1 -41.2 42.6 34.3 -55.9 21 4077.9 859.0 6.3 -270.7 -198.0 99.1 -243.3 -21.7 -13.3 642. 3. 7. 179-1. 7. . 9. 51 -91.0 48 81.8 1.9 28.6 -74.8 45 38.7 20.0 46 -111.6 -746.3 44 72.4 -107.9 -0.6 -726.3 248.7 -73.1 36.9 248.1 204.2 -28.2 139.1 176.0 -3.1 44.1 10.0 22.3 6.9 58.7 179.4 -130.5 36.4 48.9 157.3 -37.3 27.4 62.7 38 7.1 120.0 14.3 108.7 69.7 159.9 87.7 27.5 34 122.6 79.0 187.4 536.1 14.2 33 22.7 -14.7 93.2 31 -159.1 44.6 54.7 10.6 -17.5 8.2 111.8 47.6 7.8 124.7 7.4 53.9 -21.0 68.5 44.7 -25.3 -18.1 83.8 -7.0 59.9 -23.0 -6.4 46.9 -24.4 -0.4 -28.8 22.1 -0.8 14.4 20 19 20.5 -166.8 9.7 61.5 93.9 -10.8 31.8 -81.6 -47.4 -30.8 -32.1 -15.4 11.6 -38.2 -26.3 7.1 -17.3 37.8 34.6 041. 282. 431. 231. 3. 52 50 -35.0 -4.0 12.9 47 15.8 -3.0 62.3 10.3 -1.1 17.6 8.9 -0.8 -4.3 15.5 -0.1 22.1 12.6 0.3 12.8 8.1 13.2 -0.5 -8.2 -0.4 -0.2 -8.4 0.1 -2.2 27 -8.4 12.7 0.3 -1.7 9.1 5.1 2.2 0.6 -0.5 7 -5.4 -3.8 -4.3 -4.7 -5.0 -4.4 -4.7 -5.4 -5.8 . 494. 964. 513. . 6235 46.2 32 8.5 59.3 30.9 -2.3 30 -34.4 35.1 -0.4 29 11.3 43.8 55.9 2.9 4.2 29.6 2.0 2.3 8.5 42.5 -30.4 0.6 34.9 -20.0 -16.9 22 -4.3 13.1 1.8 7.5 625.5 650.0 -0.4 -8.8 20.5 23.8 6.1 -12.6 7.6 0.0 26.5 2.8 0.0 8.5 168.5 0.0 0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 57 2020

Transactions Transactions 2 F43675 oenetsosrdetrrss59-98-. . 231. 24-90-. 22 -7.5 -29.0 18 -2.9 19 42.4 56.2 0.6 11.7 0.8 1.5 15 13 -2.3 -7.5 -4.3 -29.1 5.7 1.3 12 3.6 17.9 0.9 17.3 -5.1 1.2 7.6 19.6 5.6 -2.5 9 -19.8 -1.3 1.1 -8.7 0.2 24.3 6.9 5.9 11 14.6 8.2 -0.1 12.8 466.5 0.2 28.7 7 8.7 25.7 12.7 -7.3 0.6 6.2 27FA263061705Restoftheworld 6.0 -0.3 -0.3 138.2 -0.2 26FA733061703Holdingcompanies 8.9 0.4 20.2 -0.1 -51.4 25FA663061703Brokersanddealers 161.0 -6.3 -2.5 5.6 -20.4 98.8 -0.0 24FA643061773REITs -10.5 23FA673061703ABSissuers -9.3 24.5 102.7 4.4 -0.3 2.5 22FA403061705Government-sponsoredenterprises -35.8 66.8 -2.2 21FA653061703Mutualfunds 20FA633061700Moneymarketfunds 3 -3.6 3.6 148.7 4 1372.6 19FA223061743Stateandlocalgovt.retirementfunds 118.0 149.3 -5.5 169.8 25.9 18FA343061705Federalgovernmentretirementfunds 139.3 17FA573061705Privatepensionfunds 223.1 10.0 95.9 255.1 16FA543061705Lifeinsurancecompanies 1.3 15FA513061705Property-casualtyinsurancecompanies 171.4 108.7 14FA473061705Creditunions 204.9 114.8 13FA743061703BanksinU.S.-affiliatedareas 81.1 114.7 12FA753061703ForeignbankingofficesinU.S. 11FA763061705U.S.-chartereddepositoryinstitutions 165.9 153.1 10FA713061705Monetaryauthority 193.8 194.2 157.5 9FA213061703Stateandlocalgovernments 8FA313061703Federalgovernment 7FA103061703Nonfinancialcorporatebusiness 6FA153061705Householdsector 5FA893061705Netpurchases 4FA413065005Agency-andGSE-backedmortgagepools 3FA403161705Government-sponsoredenterprises 2FA313161705Budgetagencies 1FA893161705Netissues Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.211 Agency-andGSE-BackedSecurities(1) 58 consideredofficiallytobepartofthetotalborrowingfederalgovernment,whichisshownintableF.106,line48. andagency-GSE-backedmortgagepoolsecuritiesissuedbyGinnieMae,FannieFreddieMac,theFarmersHomeAdministration(line4).Onlybudgetagencyissuesare (1) Agency-andGSE-backedsecuritiesinclude:issuesoffederalbudgetagencies(line2)suchasthosefortheTVA;government-sponsoredenterprises3)FannieMae FHLB;

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 1. . 3. 1. 4. 813. 8. 8. 20 786.1 182.4 31.3 78.1 149.0 110.2 -37.4 1.8 211.8 5 1490.5 308.2 316.8 363.0 1 1490.5 283.3 308.2 317.8 316.8 245.5 363.0 346.9 283.3 351.6 317.8 245.5 346.9 351.6 1. 1. 832. 498. 67-925. 25 58.1 24 -19.2 -462.2 -3.5 16.7 83.2 29.1 34.9 89.5 28.9 128.2 60.8 18.3 18.4 -14.5 54.6 -12.6 -27.4 10 203.7 -243.2 6 -270.8 348.9 -248.2 195.6 -184.3 191.3 -236.6 92.8 -136.2 10.8 41.5 -22.5 130.3 201.3 55.2 -95.2 912. 665. 837. 753. 4. 27 249.7 37.5 37.5 79.1 58.3 21 -362.4 53.1 96.9 86.6 74.4 17 16 117.2 22.0 23.7 58.7 16.9 -18.3 79.1 -105.8 25.0 1.7 31.0 22.5 5.6 0.2 37.6 3.0 11.1 25.5 -1.3 12.9 32.2 1.6 24.9 6.7 10.8 11.3 24-. 1. . . 95421. 2614 -2.6 16.2 4.2 -9.5 4.7 3.9 -11.8 -5.1 2 -0.1 -2.4 -1.0 -2.2 -0.8 -3.0 -1.7 -1.5 -0.1 -0.1 . . 421976-. 5891-8326 -18.3 23 9.1 0.0 -5.8 0.0 -3.4 0.0 7.6 0.0 1.9 0.0 14.2 0.0 3.8 0.0 1.4 0.0 8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

4 F43605 oenetsosrdetrrss-. 12-. 06-. 09-. 01-. 24 -0.2 -0.1 -1.0 19 18 -0.9 -3.1 -0.0 -0.4 0.0 0.0 14 13 -0.6 0.1 0.0 -0.1 16 -0.0 0.4 -0.7 -0.2 0.0 0.0 0.0 -0.5 -1.2 -3.8 -0.3 0.0 0.0 -2.7 10 -2.4 -1.0 9 0.8 -0.1 12 0.0 0.0 119.2 -0.1 -11.8 0.8 0.1 0.5 -2.7 0.0 -3.8 -0.0 0.8 0.7 -4.3 -0.1 0.2 -4.7 0.0 -0.0 -0.3 5 0.2 -64.6 -0.1 26FA263062003Restoftheworld -11.5 -38.9 -0.1 6 0.0 0.0 -0.5 20.5 -42.3 -4.5 -9.9 -0.5 25FA663062003Brokersanddealers -0.1 -0.3 24FA403062005Government-sponsoredenterprises 0.0 -28.5 29.6 -1.4 1.8 -0.4 2 0.1 23FA563062003Exchange-tradedfunds -40.9 -0.1 0.0 13.7 2.7 22FA553062003Closed-endfunds -3.2 21.1 21FA653062003Mutualfunds 0.6 1.7 -4.3 20FA633062000Moneymarketfunds 137.8 -4.1 46.8 0.8 15.6 -2.5 18.3 19FA223062043Stateandlocalgovt.retirementfunds -3.3 18FA343062033Federalgovernmentretirementfunds -78.3 14.3 0.9 -2.7 -2.2 17FA543062005Lifeinsurancecompanies -40.0 -4.3 16FA513062005Property-casualtyinsurancecompanies 1.6 8.8 15FA473062005Creditunions 13.5 14FA743062003BanksinU.S.-affiliatedareas -2.9 -51.0 13FA753062003ForeignbankingofficesinU.S. 16.9 12FA763062000U.S.-chartereddepositoryinstitutions -0.4 11FA213062003Stateandlocalgovernments 33.3 10FA113062003Nonfinancialnoncorporatebusiness 9FA103062003Nonfinancialcorporatebusiness 8FA153062005Householdsector 7FA893062005Netpurchases (industrialrevenuebonds) 6FA103162000Nonfinancialcorporatebusiness 5FA163162003Nonprofitorganizations(2) 4FA213162200Long-term 3FA213162400Short-term(1) 2FA213162005Stateandlocalgovernments 1FA383162005Netissues Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.212 MunicipalSecurities (2) Liabilityofthehouseholdsandnonprofitorganizationssector(tableF.101). (1) Debtwithoriginalmaturityof13monthsorless. 0621 0821 2019 2019 2018 2017 2016 8. 1. . 89-981. 34-67-1820 -11.8 -16.7 -3.4 14.5 -29.8 -8.9 8.4 -19.9 -81.8 144. 211581779. 86178-8621 -68.6 107.8 98.6 99.1 117.7 105.8 22.1 40.0 41.4 8 7 -31.8 11.6 64.8 162.9 -90.0 27.9 4 -134.3 8.9 -85.7 -51.9 -25.7 119.8 -52.8 1 22.8 19.8 -10.0 11.6 -89.0 -57.6 -37.4 162.9 -44.9 14.7 11.7 27.9 2.2 47.3 -85.7 -54.1 -25.7 -5.2 19.8 36.1 -57.6 14.7 47.3 0202201718-. . . . 22 0.5 0.3 5.4 -0.8 1.8 1.7 2.0 0.2 -0.2 3 -6.2 18.0 -7.3 10.7 5.0 6.6 3.0 4.8 -2.7 . . 0545173184477326 7.3 4.7 25 -10.0 8.4 23 3.8 -15.6 3.1 7.3 15.7 1.7 6.6 11.9 4.5 9.7 -18.9 17 0.6 -5.2 -0.5 4.6 15 -0.8 -5.3 7.1 2.9 10.5 -0.5 5.1 7.2 4.0 6.6 -3.4 11 7.7 -1.3 5.3 1.5 0.8 -0.5 6.3 0.7 -1.0 -0.3 0.2 -2.5 0.4 -1.6 6.1 -0.1 -1.1 8.8 -0.2 -0.4 0.8 -0.8 -0.2 1.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 59 2020

Transactions Transactions 7 F43605 oenetsosrdetrrss-32-70-. 27-. 28-. 29-. 37 -4.5 -2.9 -3.0 31 -4.5 -2.8 32 1.2 97.3 -2.0 2.5 1.6 -2.7 79.1 1.2 -6.0 55.9 47FA263063095Other 1.3 -17.0 46FA263063603MBSandotherABS -8.1 45FA263063005Restoftheworld(4) -23.2 1.3 24 66.4 44FA503063005Otherfinancialbusiness 20 32.3 13.9 43FA733063003Holdingcompanies 0.2 -2.9 42FA663063005Brokersanddealers -2.0 -0.9 0.5 41FA643063005REITs 54.2 -25.4 19 40FA613063003Financecompanies 12.9 145.8 44.9 -54.5 0.7 39FA403063095Other 18.7 -62.7 38FA403063605MBSandotherABS 42.7 -13.1 37FA403063005Government-sponsoredenterprises 0.0 34.7 9.4 36FA563063003Exchange-tradedfunds 16 7.7 35FA553063003Closed-endfunds -131.7 56.6 34FA653063005Mutualfunds -50.3 -6.3 33FA633063005Moneymarketfunds -0.1 12.2 -29.2 20.6 32FA223063045Stateandlocalgovt.retirementfunds 0.2 16.8 -0.6 31FA343063005Federalgovernmentretirementfunds -15.6 30FA573063005Privatepensionfunds 1.1 -0.5 177.8 29FA543063095Other 28FA543063675MBSandotherABS 44.1 -18.0 27FA543063005Lifeinsurancecompanies -37.9 26FA513063095Other 25FA513063605MBSandotherABS -16.1 24FA513063005Property-casualtyinsurancecompanies -3.5 23FA473063095Other 4 22FA473063605MBSandotherABS 21FA473063005Creditunions 17.6 20FA743063005BanksinU.S.-affiliatedareas 0.5 19FA753063005ForeignbankingofficesinU.S. 2 682.1 -41.6 18FA763063095Other -65.8 17FA763063605MBSandotherABS -10.7 16FA763063005U.S.-chartereddepositoryinstitutions 377.7 -23.9 15FA213063003Stateandlocalgovernments 313.2 -18.9 14FA313063763Federalgovernment 365.6 12.3 13FA153063005Householdsector 247.7 -35.0 12FA893063005Netpurchases(3) 154.8 -16.0 281.1 11FA263163005Restoftheworld(2) 268.1 10FA503163005Otherfinancialbusiness 9FA733163003Holdingcompanies 8FA663163003Brokersanddealers 7FA643163005REITs 6FA613163005Financecompanies 5FA673163005ABSissuers(net)(1) 4FA763163005U.S.-chartereddepositoryinstitutions 3FA793163005Domesticfinancialsectors 2FA103163003Nonfinancialcorporatebusiness 1FA893163005Netissues Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.213 CorporateandForeignBonds 60 (4) NetpurchasesofU.S.issuesbyforeignresidents. issuedasset-backedbonds. (3) Forsomesectors,purchasesofMBSandotherABSareshownseparately. includeprivatelyissuedmortgage-backedsecuritiesandother (2) NetpurchasesofforeignissuesbyU.S.residents. (1) Netissuancelessnetacquisitionofcorporatebondsheldasassets.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 4. 3. 1. 6. 641393591307. 47 72.4 45 39.8 163.0 315.9 171.0 123.9 303.7 76.4 127.8 69.5 169.8 -17.5 168.0 332.0 -20.2 344.7 321.5 326.3 12 1115.7 292.8 9 762.9 373.3 630.0 -97.2 419.2 -18.7 526.2 138.5 344.5 157.1 607.9 44.9 370.1 -48.4 92.2 1 1115.7 168.7 292.8 762.9 630.0 419.2 526.2 344.5 607.9 370.1 1. 1. 27-. 7039-2280-2646 -32.6 8.0 -12.2 42 3.9 34.2 -56.6 -7.0 38 36.0 -4.1 -1.8 -35.6 -2.5 -2.7 -31.9 -2.6 -10.5 33 -22.0 -19.0 -18.4 -2.5 0.5 9.6 -1.6 -11.1 17.6 -2.3 -14.5 12.1 -5.6 4.8 -16.6 11.0 -22.5 -1.1 1.9 -57.7 17 25.3 4.5 7.1 6.2 7.5 13 143.6 6.3 -16.0 -110.2 -5.2 54.2 -18.8 -177.5 -26.7 -62.4 6 5 45.1 -5.0 182.7 -73.6 67.5 -21.5 43.0 -92.8 139.3 -60.0 12.6 -80.2 61.9 -42.7 70.3 51.6 -5.4 -51.9 -26.1 -71.7 -99.5 348. 369. 397. 55119-2436 -42.4 111.9 34 266.8 95.5 65.0 73.4 30 4.5 147.0 93.9 37.9 73.2 93.7 29 60.2 274.0 113.3 26 33.6 50.9 27 14.5 64.0 52.9 316.2 89.3 -2.2 23.4 157.9 115.2 64.4 63.4 41.7 156.9 139.4 186.5 53.8 127.5 96.8 34.6 186.6 83.0 114.2 154.0 32.9 70.0 100.5 137.6 26.7 71.4 17.6 123.7 18 43.7 73.6 -157.0 84.3 -10.7 9.7 92.8 13.4 14.6 -21.8 170.3 37.8 -32.7 10 2.7 11 -298.0 -178.7 71.1 7 352.3 23.2 -40.1 157.2 123.8 75.3 129.7 -62.2 72.4 -146.6 42.1 3 123.2 73.1 43.7 612.3 114.9 51.6 6.3 35.3 292.3 68.1 65.0 -22.9 228.0 31.0 187.2 35.8 200.1 21.6 155.4 21.8 74.8 34.5 37.0 4136-. . . . . 1. 3444 43.4 -12.4 3.5 3.5 39 -0.3 6.1 -0.4 0.2 -0.4 -1.9 -0.3 3.6 -0.4 -4.1 -0.4 -0.4 -0.5 -0.7 8 331.7 -37.4 -90.1 95.9 -8.5 -10.0 -1.7 56.5 -2.2 . 274550301. . 40-. 43 -0.6 -4.0 41 -67.3 8.3 14.2 40 13.7 12.8 -3.2 12.5 3.0 35 -0.8 6.1 10.4 5.0 -6.3 0.7 -11.0 4.5 1.0 -13.9 1.9 -2.7 -0.5 8.5 2.5 2.2 -4.5 2.1 3.0 28 -10.6 42.2 1.0 2.0 9.9 8.9 25 0.5 15.5 28.6 23 22 0.4 -0.7 0.9 5.7 21 29.8 6.1 12.5 -0.1 3.2 1.2 26.5 1.0 10.3 0.1 23.4 0.4 9.8 0.5 -0.2 23.1 -0.4 8.0 -0.6 0.0 2.2 3.5 14 0.0 3.5 12.9 -0.0 8.5 15 1.2 45.4 2.5 0.0 1.1 0.2 0.2 6.4 2.2 0.0 0.4 0.1 -1.1 -4.5 0.0 -1.0 0.0 0.5 -32.6 0.5 0.0 -28.2 0.0 -14.7 -2.9 0.0 -1.3 0.0 6.1 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

5 F23603 tt n oa ot eieetfns65-. . . . 1049-. . 45 1.8 47 1040.1 -4.1 79.2 48 41 118.0 39 3.2 44 2.6 4.9 184.2 -0.6 139.3 8.0 90.9 9.6 95.9 -1.0 -29.0 38 32.7 655.0 -0.3 108.7 -774.6 2.6 -4.1 10.6 96.7 5.7 114.8 0.4 34 5.6 0.6 9.9 114.7 -4.8 149.3 861.3 1.4 165.9 2.9 5.6 207.0 43.7 10.0 15.8 32 37 35 193.8 3.4 191.3 1861.1 55FA263069500Restoftheworld 2.4 4264.6 3.5 64.3 -7.6 11.9 -151.7 336.3 31 157.5 637.2 54FA503069805Otherfinancialbusiness 18.6 151.7 3.7 2.7 28.4 -9.9 338.8 6.5 53FA733069005Holdingcompanies 192.9 -1.2 0.0 52FA663069005Brokersanddealers 14.4 571.3 1047.5 3.6 40.1 2.4 51FA643065005REITs 2.5 -0.2 29 1437.8 187.4 -13.4 666.0 5.8 50FA614023005Financecompanies 828.8 2.8 2.7 3.6 -2.2 358.4 58.6 -5.1 49FA674023005ABSissuers 759.0 48FA413065005Agency-andGSE-backedmortgagepools 28.6 439.1 3.2 252.4 -18.7 47FA404023005Government-sponsoredenterprises 3.9 1089.0 46FA653069803Mutualfunds 349.0 82.4 881.0 3.2 3.3 22 -0.0 496.2 45FA223065043Stateandlocalgovt.retirementfunds 0.0 68.7 44FA313169003Federalgovernmentretirementfunds 12.0 3.8 2.2 43FA573065005Privatepensionfunds 0.0 115.5 42FA544023005Lifeinsurancecompanies 41FA513065505Property-casualtyinsurancecompanies 8.4 63.5 2.9 20 0.0 9.8 40FA474023000Creditunions 16 43.8 -2.0 -21.6 0.5 39FA744023003BanksinU.S.-affiliatedareas 0.0 0.7 38FA754023005ForeignbankingofficesinU.S. 79.5 37FA764023005U.S.-chartereddepositoryinstitutions 1.1 36FA713068005Monetaryauthority 0.0 0.1 18 3.9 35FA794023005Domesticfinancialsectors 665.8 0.0 -1.9 -104.8 34FA213065005Stateandlocalgovernments 1.0 1.9 33FA314023005Federalgovernment 0.0 -115.8 -88.1 1.1 32FA114023005Nonfinancialnoncorporatebusiness 0.2 0.0 13 31FA104023005Nonfinancialcorporatebusiness -60.6 1731.0 30FA154023005Householdsector 14 1.8 50.8 0.5 618.5 0.0 -92.3 29FA384023005Domesticnonfinancialsectors 325.6 185.7 1.1 -9.2 -0.0 28FA894123005Netchangeinassets 11 326.9 167.9 2982.7 20.1 0.4 0.5 256.9 27FA264123005Restoftheworld 897.3 330.4 67.7 245.3 285.9 183.7 0.9 26FA504123005Otherfinancialbusiness 25FA664123005Brokersanddealers 288.7 1113.1 123.1 24FA644123005REITs 1773.8 338.5 23FA614123005Financecompanies 25.4 1017.5 22FA403169283Government-sponsoredenterprises 463.2 805.1 5 2.6 21FA543169373Lifeinsurancecompanies 358.3 387.9 1228.4 20FA513169333Property-casualtyinsurancecompanies 263.5 850.8 19FA473169333Creditunions 18FA763169305U.S.-chartereddepositoryinstitutions 2 350.0 2579.6 17FA794123005Domesticfinancialsectors 376.1 89.0 245.2 16FA213169203Stateandlocalgovernments 107.2 15FA314123005Federalgovernment 308.7 320.4 14FA114123005Nonfinancialnoncorporatebusiness 303.2 13FA104123005Nonfinancialcorporatebusiness 50.8 332.5 12FA154123005Householdsector 141.9 232.6 11FA384123005Domesticnonfinancialsectors 281.0 10FA894123005Netchangeinliabilities 109.8 Bysector 168.2 9FA153166000Consumercredit 8FA893065603Farm 7FA893065505Commercial 6FA893065405Multifamilyresidential 5FA893065105One-to-four-familyresidential 4FA893065005Mortgages 3FA893169005Otherloansandadvances 2FA793068005Depositoryinstitutionloansn.e.c. 1FA894123005Netchangeintotalloans Byinstrument Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.214 Loans(1) (1) Sumofdepositoryinstitution loansnotelsewhereclassified,other loans andadvances,totalmortgages,consumer credit. 0621 0821 2019 2019 2018 2017 2016 0. 929. 0. 0. 801917. 5133 65.1 74.2 129.1 88.0 108.9 100.0 96.9 28 5120.2 99.2 831.3 458.0 103.0 1197.1 1677.1 1040.9 846.0 1232.3 956.2 12 633.4 548.8 544.0 681.6 10 5120.2 9 335.7 831.3 65.8 527.6 458.0 7 171.1 494.1 6 1197.1 205.2 198.7 587.6 98.3 1677.1 123.8 4 176.5 1040.9 459.3 151.1 200.1 669.8 846.0 184.2 188.9 81.1 549.4 1232.3 182.6 109.1 956.2 750.0 142.9 181.6 102.7 577.2 137.0 192.3 1 138.0 501.5 127.9 5120.2 230.1 117.9 594.5 831.3 123.2 122.4 558.5 458.0 117.7 117.5 588.3 1197.1 1677.1 485.0 1040.9 846.0 1232.3 956.2 5. 2. 60-. 5167-12-922. 50 21.3 49 132.5 -39.2 29.0 -21.2 133.8 6.7 -9.0 35.1 28.8 -4.6 45.7 -6.0 -2.1 -22.2 -43.8 -50.7 -98.6 30 569.0 -43.6 121.2 6.6 -49.9 24 8.6 136.4 16.2 -20.7 -8.3 -70.0 -19.9 -12.0 -18.9 -7.7 -12.9 3.9 -15.3 47712. 893. 613. 4. 9. 51 -96.5 -47.0 37.0 46.1 46 -14.2 39.3 -9.4 18.9 42 63.6 -13.0 20.2 37.4 40 -22.9 73.3 7.1 -31.4 67.5 78.9 14.7 -19.2 27.6 77.9 -10.5 57.6 64.3 16.2 47.5 53.0 18.6 61.5 68.5 45.8 86.9 37.6 89.0 84.8 27 345.5 49.5 122.4 21 76.0 159.1 10.2 36.3 15.7 91.8 0.1 51.6 17.4 4.1 17 1791.9 32.1 7.5 -115.5 49.7 6.4 -75.1 6.5 -133.0 -68.5 10.1 -10.7 -13.5 8 8.1 73.2 11.0 11.0 10.9 10.8 3 1805.0 10.9 21.8 9.5 -598.0 10.2 123.0 940.6 17.2 121.9 -175.1 341.9 72.9 439. 359. 7. 721. 3. 8. 55 189.5 53 135.5 44.3 52 12.7 85.2 -32.8 67.2 74.0 51.9 170.6 12.4 22.5 96.5 81.2 11.9 23.5 -27.3 13.4 99.5 35.1 -18.8 -4.3 -23.8 17.9 69.7 -1.1 -8.4 . . 0708163835-. 1054 31.0 -5.9 3.5 3.8 1.6 43 0.8 8.1 -0.7 2.0 3.0 3.1 3.0 1.8 36 234.9 2.0 0.0 2.2 0.0 2.5 0.0 4.4 0.0 0.3 0.0 0.0 26 0.0 0.0 0.0 0.0 23 25 0.0 30.3 831.2 -32.5 0.0 2.4 132.9 19 0.0 13.9 42.4 36.7 -4.7 -7.7 0.0 -43.6 12.1 11.1 23.4 0.0 5.9 2.7 2.1 0.0 15 -0.4 -28.1 -40.7 -0.6 0.0 -5.5 8.1 -11.3 -29.0 0.0 2.9 -774.6 5.7 8.2 861.3 2.0 15.8 -151.7 151.7 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 61 2020

Transactions Transactions 8 F73605 ak nUS-fiitdaes-. 0405504567-. 075318 5.3 10.7 17 646.0 -1.8 9.9 6.7 -13.9 11 4.5 16 -1.3 41.7 1711.1 12 45.7 5.0 1.5 132.3 63.4 120.0 -1.8 0.5 25.3 -2.7 237.9 13 198.8 -22.8 32.1 -0.4 -0.6 -12.1 47.4 -4.8 -3.1 97.9 -1.4 -1.8 148.6 3.0 11.2 254.1 -0.9 171.8 104.5 -6.6 2.3 0.1 146.4 3 2.7 92.5 1290.0 -3.1 4 358.0 (2) LoansfromFederalReservebankstothehousehold,brokeranddealer,otherfinancialbusinesssectors. -23.8 -29.9 56.6 -2.2 (1) Excludesdepositoryinstitutionlendingintheformofopenmarketpaper,mortgages,andconsumercreditwhichareshownonotherinstrumenttables. 15.2 18.1 2.0 45.7 19FA473068005Creditunions -31.3 63.5 18FA743068005BanksinU.S.-affiliatedareas 34.3 17FA753068005ForeignbankingofficesinU.S. 44.3 32.7 16FA763068005U.S.-chartereddepositoryinstitutions 80.9 22.6 15FA713068005Monetaryauthority(2) 27.2 70.0 14FA793068005Netchangeinassets 103.6 -47.6 13FA263168495Foreignnondepositoryfinancialinstitutions 12FA263168485Foreignnonfinancialcorporations 128.8 4.1 11FA263168465Foreignofficialinstitutions 116.2 10FA263168005Restoftheworld 9FA713068505Otherfinancialbusiness 8FA663168005Brokersanddealers 7FA643168005REITs 6FA613168003Financecompanies 5FA793168005Domesticfinancialsectors 4FA113168005Nonfinancialnoncorporatebusiness 3FA103168005Nonfinancialcorporatebusiness 2FA153168005Householdsector 1FA793068005Netchangeinliabilities Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.215 DepositoryInstitutionLoansNotElsewhereClassified(1) 62

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 6. 0. 8. 4. 083041728. 59614 2579.6 89.0 107.2 320.4 50.8 141.9 281.0 109.8 168.2 1 2579.6 89.0 107.2 320.4 50.8 141.9 281.0 109.8 168.2 2188-. 37-. 41302. 1. 19 -17.8 22.6 3.0 34.1 -5.0 13.7 -5.7 10 329.8 8 8.8 47.1 255.8 1.0 12.1 123.1 166.4 7.0 3.5 9.5 85.0 2 -10.0 158.3 59.4 1.9 49.6 12.7 -12.5 3.8 34.1 54.5 14.1 -57.3 12.1 8.6 38.5 7.9 10.6 925133-. 1. 1. 1. 211727 157.2 -2.1 -10.0 -13.1 -11.2 -9.1 3.3 5.1 -9.2 ...... 3. 15 234.9 0.0 0.0 0.0 9 0.0 0.0 0.0 0.0 0.0 6 0.0 30.5 5 0.0 443.5 2.0 0.0 0.9 0.0 12.8 0.0 9.8 0.0 -4.7 -8.3 0.0 12.1 -9.0 5.6 0.0 -1.6 2.3 0.0 9.4 -11.3 8.0 0.2 3.1 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

2 F53685 te iaca uies3030-. . . . . 593. 52 31.0 -5.9 3.5 48 18.2 3.8 -7.4 1.6 6.0 0.8 -4.1 46 2.6 -0.7 119.5 44 575.5 41.2 3.0 -0.7 41 -33.5 75.4 5.9 42 -0.1 3.0 48.3 40 125.9 38 39 53.2 -6.9 0.0 59.1 -4.2 37 2.7 27.2 66.6 0.0 -37.4 17.7 -41.5 -2.1 33 -2.5 -33.6 -6.3 3.0 0.0 -22.9 -2.1 36 31.8 -25.4 21.5 -0.1 0.0 0.2 72.7 2.0 0.0 -0.1 34 2.2 -12.5 -1.7 1.5 0.0 32 35 -39.8 0.0 2.3 5.2 20.9 3.8 34.8 0.0 0.0 23.2 31 -54.9 23.3 29 3.0 0.4 -15.6 76.0 0.0 -1.0 -9.3 31.9 19.1 16.0 -4.0 -10.4 0.4 0.0 -31.0 0.6 52FA503069805Otherfinancialbusiness -1.6 -0.4 10.2 1.0 8.9 -0.0 0.0 51FA663069803Brokersanddealers 9.8 1.6 56.3 -0.4 0.0 50FA673069803ABSissuers 28 -0.5 15.7 2.9 0.1 9.8 49FA653069803Mutualfunds 17.5 -0.1 -0.7 24 0.0 -12.4 -0.8 14.6 0.1 48FA543069873Lifeinsurancecompanies 4.3 0.0 -3.7 0.1 47FA153069803Asset:Householdsector 0.6 0.1 -7.1 0.7 -1.7 -15.0 -7.7 -16.7 0.0 46FA103169803Loanstononfinancialcorporatebusiness(3) 22 0.1 -6.1 0.0 4.3 0.0 4.1 7.4 1.2 0.3 0.1 6.1 45FA153067005Asset:Householdsector 0.0 1.5 0.3 25 44FA153067005Cashaccountsatbrokersanddealers 26 -0.9 -6.1 0.0 7.5 778.2 665.8 6.8 1.1 -1.9 5.7 0.0 43FA663067003Liab.:Householdsector -2.9 -100.6 -0.4 -104.8 1.5 0.0 42FA663067003Marginaccountsatbrokersanddealers 6.4 4.7 1.9 0.7 -88.2 4.0 -115.8 17 20 0.0 -3.8 -6.8 0.0 19.7 16 41FA113169535Nonfinancialnoncorporatebusiness -2.9 -88.1 -90.9 6.5 0.0 5.9 0.2 40FA103169535Liab.:Nonfinancialcorporatebusiness 0.8 5.1 -2.8 -7.1 -40.0 39FA613069500Financecompanyloanstobusiness -60.6 -3.9 0.0 -82.6 15 10.1 0.0 0.5 0.0 49.1 -92.3 0.1 38FA673069505Liab.:Nonfinancialcorporatebusiness -90.6 -2.9 0.0 37FA673069505SecuritizedloansheldbyABSissuers -9.2 0.0 26.7 -0.0 -2.6 0.0 2.0 0.1 36FA763169383U.S.-chartereddepositoryinst.(SLMA) 0.0 20.1 -19.0 35FA113169305Nonfinancialnoncorporatebusiness(FCS) 0.5 27.8 9 0.0 0.0 -0.1 34FA183169305Nonfinancialcorporatebusiness(FCS) 14 1.9 0.0 4.2 189.5 0.0 67.7 33FA153169305Liab.:Householdsector(SLMA) 73.1 0.0 32FA403069395Govt.-sponsoredenterprisesloans(2) 0.0 13 135.5 -0.1 0.0 189.5 -16.7 0.0 6 31FA643169373Realestateinvestmenttrusts 12.7 0.0 135.5 0.0 0.5 7 14.2 30FA613169333Financecompanies 0.0 0.0 0.0 29FA543169373Lifeinsurancecompanies 67.2 12.7 0.0 -0.5 28FA513169333Property-casualtyinsurancecompanies 11 0.0 1.1 5 0.0 -0.6 27FA473169333Creditunions 170.6 0.0 67.2 4 0.0 5.3 26FA763169335Liab.:U.S.-chartereddepositoryinstitutions 0.0 -19.8 0.0 3.9 96.5 25FA403069330FederalHomeLoanBanksadvances(1) -29.0 0.0 170.6 0.0 0.0 1.0 3.3 0.0 -774.6 23.5 24FA543069405Lifeinsurancecompanies 96.5 0.0 1.0 0.0 23FA313069403Asset:Federalgovernment 5.7 0.0 7.2 2.1 99.5 22FA153169405Policyloans(Householdliability) 23.5 0.0 1.1 0.0 861.3 0.0 21FA733069023Restoftheworld -4.3 99.5 1.7 3.8 20FA733069013Liab.:Nonfinancialcorporatebusiness 1.8 15.8 0.0 19FA733069005Holdingcompanyloans -4.3 0.0 6.3 7.9 -151.7 1.1 18FA263169705Restoftheworld 0.0 151.7 0.0 17FA103169705Liab.:Nonfinancialcorporatebusiness 1 4.0 4.3 16FA753069703ForeignbankingofficesinU.S. 0.4 1805.0 0.0 15FA763069703Asset:U.S.-chartereddepositoryinstitutions 0.0 21.8 1.5 -0.1 Customers’liabilityonacceptancesoutstanding 0.9 -598.0 0.0 -1.1 14FA263069500Liab.:Nonfinancialcorporatebusiness -0.4 123.0 13FA263069500ForeignloanstoU.S.corporatebusiness -0.9 -0.7 940.6 12FA313169003Liab.:Federalgovernment 11FA313169003Federalgovernmentretirementfunds’loans 121.9 -175.1 10FA263169205Restoftheworld 9FA503169205Otherfinancialbusiness 341.9 8FA313069223Financecompanies 72.9 7FA403169283Government-sponsoredenterprises 6FA213169203Stateandlocalgovernments 5FA113169205Nonfinancialnoncorporatebusiness 4FA103169205Nonfinancialcorporatebusiness 3FA153169203Liab.:Householdsector 2FA313069205U.S.governmentloans 1FA893169005Netchangeintotalotherloansandadvances Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.216 OtherLoansandAdvances (3) Syndicatedloansfromdomesticentities,excludingdepositoryinstitutionsandfinancecompanies whichareincludedelsewhere. (2) TheStudentLoanMarketingAssociation(SallieMae)wasincludeduntilitfullyprivatized in2004:Q4.FederalHomeLoanBankadvancesareshownseparatelyonline25. affiliatedcaptiveinsurancecompanies. (1) TheFederalHomeLoanBanksareincludedinthegovernment-sponsoredenterprisessector. Finance companiesandrealestateinvestmenttrustsreceiveadvancesthrough 0621 0821 2019 2019 2018 2017 2016 1. 63-102. 3. 27-. 664. 43 48.3 66.6 -6.3 72.7 -39.8 23.3 -31.0 56.3 -12.4 861. 1. 1. 3. 2. 1. 94-4249 -14.2 -9.4 -13.0 -22.9 -31.4 -19.2 -10.5 16.2 18.6 40-49-. 15-362. 2. 3. 7. 45 575.5 -33.5 125.9 27.2 -33.6 21.5 -1.7 -54.9 -4.0 30 -0.2 0.4 1.1 -0.0 23 0.0 -0.0 21 24.6 -0.0 0.4 7.3 -0.0 -2.7 19 -0.0 44.3 2.8 -0.1 -32.8 -0.0 -4.2 -0.2 51.9 -0.0 30.9 22.5 -0.0 9.2 11.9 -0.0 -2.1 13.4 -0.0 10 3.6 -8.9 -18.8 17.9 -0.6 -4.9 -1.1 -3.5 -3.1 1.9 -2.4 -5.6 1.0 -1.4 . 34721. 25851. . 6951 36.9 50 38.2 7.4 47 9.4 53.1 18.7 3.4 49.9 8.5 10.3 11.9 12.5 -4.1 33.0 11.8 37.0 -0.6 7.2 -6.1 2.2 13.4 -1.6 -2.3 4.0 0.8 1.2 2.6 27 42.4 -7.7 11.1 2.7 -28.1 18 0.0 -5.5 0.0 2.9 0.0 8.2 0.0 2.0 0.0 0.0 8 12 0.0 -0.6 0.0 -29.0 0.0 0.0 3 -774.6 0.0 4.5 5.7 0.0 2 0.0 4.5 -18.4 861.3 5.1 15.8 0.0 19.5 -151.7 29.1 0.0 5.1 151.7 8.6 0.0 0.0 5.4 22.6 0.0 8.6 16.3 0.0 6.0 2.9 2.7 2.8 2.3 0.3 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 63 2020

Transactions Transactions 4 F43605 amr oeAmnsrto FH)()00000000000000000044 0.0 0.0 0.0 0.0 0.0 39 118.0 32 0.0 1.8 139.3 95.9 0.0 -4.1 33 29 256.6 3.2 108.7 4.9 0.0 26 27 160.8 114.8 9.0 -2.7 8.0 272.4 -1.0 0.0 114.7 -1.1 0.7 164.2 -0.3 165.9 2.6 23 9.9 122.4 -2.2 193.8 9.1 0.4 47FA643065005REITs 0.6 180.0 157.5 46FA613065000Financecompanies -1.1 10.0 24 2.0 45FA673065005ABSissuers 1.4 145.1 225.7 5.6 11.9 -1.6 25 174.4 20 44FA413065035FarmersHomeAdministration(FmHA)(2) 272.7 0.9 21 175.8 2.4 0.0 43FA413065653FarmerMac 0.0 -7.6 -9.9 112.4 -1.5 170.4 42FA413065045FannieMae 215.8 3.2 41FA413065025FreddieMac 2.7 0.8 19 6.5 272.4 2.5 16 -0.1 -1.7 124.6 40FA413065015GinnieMae 6.3 3.4 15 39FA413065005Agency-andGSE-backedmortgagepools 144.1 8.1 228.8 18.2 2.4 0.9 -0.1 0.3 3.6 0.9 3.7 214.9 38FA403065653FarmerMac 117.0 -3.3 9.0 37FA403065035FHLB 2.7 0.0 0.8 -0.7 170.7 -18.7 171.6 36FA403065045FarmCreditSystem 10.7 3.6 1.1 35FA403065025FreddieMac 216.0 17.4 3.2 122.6 -0.0 1.0 34FA403065015FannieMae -13.6 297.5 2.8 33FA403065005Government-sponsoredenterprises 164.7 1.1 -0.0 12.0 2.3 0.9 246.0 32FA223065043Stateandlocalgovt.retirementfunds 3.2 1.1 -0.1 31FA573065005Privatepensionfunds 0.1 0.6 3.3 30FA543065005Lifeinsurancecompanies 0.1 -0.0 3.2 29FA513065505Property-casualtyinsurancecompanies 0.7 3.8 2.0 -0.1 28FA473065100Creditunions 0.9 1.7 27FA743065003BanksinU.S.-affiliatedareas 8.4 2.4 26FA753065005ForeignbankingofficesinU.S. 1.6 25FA763065005U.S.-chartereddepositoryinstitutions 24FA703065005Privatedepositoryinstitutions -2.0 -22.8 23FA213065005Stateandlocalgovernments 22FA313065095Other(3) 2 21FA313065065FederalDepositInsuranceCorporation 358.3 20FA313065035FederalHousingAdministration(FHA) 19FA313065075FarmersHomeAdministration(FmHA)(2) 263.5 18FA313065015GinnieMae 17FA313065005Federalgovernment 350.0 376.1 16FA113065005Nonfinancialnoncorporatebusiness 15FA103065003Nonfinancialcorporatebusiness 245.2 14FA153065005Householdsector 308.7 13FA893065005Netchangeinassets 303.2 12FA123165005REITs 332.5 11FA313165403Federalgovernment 232.6 10FA113165005Noncorporate 9FA103165005Corporate 8FA143165005Nonfinancialbusiness 7FA153165005Householdsector 6FA893065005Netborrowing 5FA893065603Farm 4FA893065505Commercial 3FA893065405Multifamilyresidential 2FA893065105One-to-four-familyresidential 1FA893065005Netchangeinmortgages Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.217 TotalMortgages(1) 64 (3) OtherincludesDepartmentofVeteransAffairs,FederalFinancingBank,PublicHousingAdministration, andResolutionTrustCorporation. theFarmersHomeAdministration. (2) FmHA-guaranteedsecuritiessoldtotheFederalFinancingBankwerereallocatedfromFmHA mortgagepoolstoFmHAholdingsin1986:Q4becauseofaccountingchangesby (1) Sumofone-to-four-familyresidentialmortgages(tableL.218),multifamily (tableL.219),commercialmortgagesL.220),andfarmL.221).

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 137-311. 1533-478. 3. 0. 45 101.9 -30.6 88.1 -14.7 3.3 11.5 15.8 -33.1 -103.7 2. 4. 2. 538. 864. 9915740 105.7 89.9 46.4 78.6 86.4 75.3 128.8 146.6 123.7 13 669.8 549.4 750.0 10 577.2 245.5 8 501.5 297.6 322.9 7 594.5 352.0 268.7 352.2 6 558.5 196.0 404.8 263.1 669.8 588.3 163.5 204.6 343.0 4 549.4 485.0 252.3 3 262.1 205.2 375.7 750.0 98.3 226.7 285.1 123.8 247.1 577.2 330.9 151.1 1 275.6 200.1 307.2 501.5 669.8 269.0 188.9 256.2 81.1 298.8 594.5 549.4 109.1 255.2 326.5 142.9 558.5 750.0 102.7 228.7 137.0 588.3 577.2 138.0 127.9 485.0 501.5 117.9 123.2 594.5 122.4 117.7 558.5 117.5 588.3 485.0 2. 1. 89251. 4427-. 1. 46 -15.0 -3.2 2.7 -4.4 14.8 2.5 -8.9 -14.4 -21.0 9 77.3 -28.9 52.8 8.6 98.6 32.8 48.8 -74.7 -13.8 47712. 893. 613. 4. 9. 47 -96.5 -47.0 37.0 46.1 41 12.7 39.3 51.0 18.9 49.7 20.2 30.3 7.1 35 117.8 34 28.8 119.5 65.9 14.7 39.9 70.2 116.0 40.9 137.9 82.5 30 41.1 64.8 49.9 76.1 50.9 28 37.1 36.0 43.7 85.1 60.0 77.5 57.2 59.1 34.7 70.3 38.9 68.5 58.8 94.9 42.7 45.5 51.1 56.2 27.8 61.4 41.7 41.2 41.8 34.8 42.1 34.7 5 8.1 11.0 11.0 10.9 10.8 10.9 9.5 10.2 17.2 26-. 36-. 03-. 02-. 0242 -0.2 -0.2 -0.2 -0.2 -0.3 -0.2 -3.6 -1.8 -2.6 14 -12.6 -11.1 -11.8 -11.9 -11.8 -11.6 -12.9 -10.1 -7.0 . 10-. 04-. 00-. 13-. 43 -0.2 -1.3 38 1.6 -0.0 37 36 11.0 1.6 6.8 -0.0 11.1 1.0 -0.0 12.1 10.3 31 -0.4 7.3 1.1 8.1 9.9 -0.2 5.8 1.9 2.0 8.5 -1.0 -1.2 1.4 3.1 9.9 0.3 6.0 0.1 1.8 8.7 6.9 0.5 2.0 5.4 5.1 0.1 22 2.2 3.9 0.0 6.7 2.5 0.0 4.4 0.0 17 18 6.1 -0.2 0.3 0.0 -0.3 1.3 0.0 -0.3 11.2 0.0 -0.3 -13.0 11 0.0 12 0.0 -5.2 3.0 -0.3 0.0 17.6 -0.3 0.0 0.6 0.0 2.2 -0.4 0.0 3.4 0.0 -1.5 -3.1 0.2 0.0 -7.7 0.0 3.2 2.2 0.0 -15.8 0.0 5.6 0.0 1.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

6 F73623 oeg akn fie nUS 01-. 0001-. . 0105-. 26 -0.2 0.5 -0.1 25 0.0 -18.7 24 -23.0 -34.8 -0.0 -31.9 -35.2 0.1 -35.2 -28.3 -18.4 -0.0 17 -42.6 0.6 -36.9 -0.1 -35.2 -30.6 18 19 -1.5 13 233.1 -36.3 106.6 -0.1 -1.8 -32.6 12 139.6 1.7 90.8 -0.3 -32.7 -28.8 -0.8 213.5 -35.7 49.1 -0.4 -0.4 -38.4 121.4 -1.0 81.8 11 0.1 0.9 95.1 8 33.6 -0.7 7 1.2 86.1 142.4 0.0 0.2 81.4 10.9 29FA613065123Financecompanies -1.2 76.9 113.4 1.4 28FA673065123ABSissuers 3.6 -2.0 -0.2 2.0 27FA473065125Creditunions -0.9 138.7 123.1 26FA753065203ForeignbankingofficesinU.S. 3 1.3 0.6 -0.1 25FA763065125U.S.-chartereddepositoryinstitutions 108.1 79.0 141.4 -2.7 -1.2 1.3 24FA893065125Homeequityloansincludedabove(3) 28.1 1.0 115.8 0.5 4 0.6 2.3 0.3 23FV893065153Charge-offs(2) -0.4 17.1 55.3 Memo: 1.2 -0.1 0.6 -0.7 0.5 13.2 32.1 22FA643065105REITs -0.4 1.2 21FA613065105Financecompanies -0.0 18.8 -0.4 50.7 20FA673065105ABSissuers 1.4 1.2 13.2 1.0 81.5 19FA413065105Agency-andGSE-backedmortgagepools 18FA403065105Government-sponsoredenterprises 9.5 3.0 1.4 0.2 17FA223065143Stateandlocalgovt.retirementfunds 16FA573065103Privatepensionfunds 13.7 -0.7 -13.7 1.0 15FA543065105Lifeinsurancecompanies 15.8 14FA473065100Creditunions 0.9 13FA743065103BanksinU.S.-affiliatedareas 16.7 12FA753065103ForeignbankingofficesinU.S. 1.7 11FA763065105U.S.-chartereddepositoryinstitutions 16.3 10FA213065103Stateandlocalgovernments 9FA313065105Federalgovernment 8FA113065103Nonfinancialnoncorporatebusiness 7FA103065105Nonfinancialcorporatebusiness 6FA153065103Householdsector 5FA893065105Netchangeinassets 4FA113165105Nonfinancialnoncorporatebusiness 3FA103165105Nonfinancialcorporatebusiness 2FA153165105Householdsector 1FA893065105Netborrowing Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.218 One-to-four-familyResidentialMortgages(1) 6 F23643 tt n oa ot eieetfns20-. . . . 0315-. . 16 17 0.5 18.3 13 18 4.8 11.5 14.5 -1.2 49.9 3.2 52.9 1.5 46.9 0.8 36.7 12 -0.3 26.9 9 8 44.3 20.5 2.1 1.2 0.3 0.8 28.7 28.1 31.2 1.7 1.3 -0.0 38.1 0.2 29.6 25.8 2.0 0.0 1.2 43.0 38.1 1.7 31.7 2 53.4 3.5 0.0 23.2 0.9 4.8 26.2 -2.3 41.3 29.7 1.4 0.0 1.1 7.4 2.0 27.6 2.2 0.0 1.1 9.6 24.3 21FA643065405 REITs 3 20FA613065403Financecompanies 0.0 91.4 1.3 5.5 43.3 19FA673065405ABSissuers 140.1 0.0 2.9 5.4 18FA413065405Agency-andGSE-backed mortgagepools 181.6 17FA403065405Government-sponsored enterprises -0.3 -0.7 7.0 104.8 16FA223065443Stateandlocalgovt. retirementfunds 15FA573065403Privatepensionfunds 102.0 6.1 14FA543065405Lifeinsurancecompanies 132.1 13FA753065403ForeignbankingofficesinU.S. 6.4 116.2 12FA763065403U.S.-chartereddepositoryinstitutions 120.8 5.8 11FA213065403Stateandlocalgovernments 109.4 10FA313065405Federalgovernment 9FA113065403Nonfinancialnoncorporatebusiness 8FA103065403Nonfinancialcorporatebusiness 7FA153065403Householdsector 6FA893065405Netchangeinassets 5FA123165403REITs 4FA313165403Federalgovernment 3FA113165405Nonfinancialnoncorporatebusiness 2FA103165405Nonfinancialcorporatebusiness 1FA893065405Netborrowing Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.219 MultifamilyResidentialMortgages heldbyU.S.-chartereddepositoryinstitutionsexcludecharge-offs. (3) Loansmadeunderhomeequitylinesofcreditandloanssecuredbyjuniorliens.Excludesheldindividuals.Home (2) Charge-offsareexcludedfromtransactions(line1)andaccountedforasotherchangesinvolume.Quarterlyfiguresshownatanunadjustedquarterlyrate.Databegin2007:Q1. (1) Mortgageson1-4familypropertiesincludingmortgagesfarmhouses. 0621 0821 2019 2019 2018 2017 2016 3. 3. 0. 0. 4. 7. 5. 6. 5. 5 358.3 263.5 2 350.0 340.0 1 376.1 250.7 358.3 245.2 330.6 263.5 308.7 363.3 350.0 303.2 234.7 376.1 332.5 294.8 245.2 232.6 286.5 308.7 314.9 303.2 214.5 332.5 232.6 1. 2. 1. 3. 0. 0. 8. 5. 836 98.3 151.1 188.9 109.1 1 98.3 102.7 138.0 151.1 117.9 188.9 122.4 109.1 117.5 102.7 138.0 117.9 122.4 117.5 1. 1. 81-. 02-. . 27-4421 -14.4 20 29.9 -2.7 -70.3 1.7 18.9 -5.4 17.1 -0.2 4.2 -1.7 -7.5 -8.1 3.1 -11.4 -28.4 -16.5 -63.8 6 -10.6 -10.6 -10.6 -10.6 -10.6 -10.6 -10.6 -10.6 -10.6 1. 450517-10-. . 362. 19 27.7 13.6 6.0 -1.8 -11.0 1.7 0.5 -4.5 -14.4 192. 971...... 23 2.7 3.7 22 -84.6 3.6 -31.1 3.9 17.4 21.0 4.4 2.5 15.6 2.4 19.7 14 43.7 27.4 7.7 57.2 31.9 4.8 38.9 14.3 42.7 27.8 41.7 41.8 42.1 34.7 351. 192. 462. 802. 0114 10.1 27.1 28.0 21.3 24.6 25.2 21.9 15.7 13.5 1903-. . . 011713-. 28 29 -1.3 -1.4 1.3 -1.2 -0.0 1.7 -1.5 -0.1 1.4 2.8 -0.3 1.4 -1.6 -0.0 -2.3 0.3 16 -3.3 -0.1 -1.9 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 021614811. . . 12-2921 -22.9 11.2 4.1 4.5 15 -0.3 12.8 -0.3 8.1 -0.3 1.4 10 -0.3 1.6 -0.9 -0.3 0.0 -0.2 -0.3 13.7 -0.3 -14.9 -0.3 -0.2 -0.3 -0.3 -0.3 -0.4 -0.3 . . . . . 15-. . 1327 -1.3 2.3 -1.4 11.5 1.5 3.5 5.3 15 4.4 5.9 7.3 2.6 7.9 10 9 5.6 5.2 1.0 9.4 5.2 0.1 7.5 6.2 0.8 6.3 -5.0 -1.1 1.4 2.3 0.2 1.9 3.5 0.0 -9.5 0.1 1.8 -0.8 6.3 1.5 . 24-. 02-. 01-. 01-. 20 -0.2 -0.1 -0.2 -0.1 -0.2 11 -0.2 3.9 -0.7 3.9 7 -2.4 0.0 4.7 0.6 0.0 -4.0 4 5 0.0 0.0 0.9 2.0 0.0 0.0 1.4 3.6 0.0 0.0 -7.6 -2.2 1.1 0.0 0.0 -1.2 4.6 0.0 0.0 -4.7 -1.1 0.0 0.0 -4.4 0.0 0.0 -4.7 0.0 2.3 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 65 2020

Transactions Transactions 9 F43655 gny n S-akdmrgg ol ...... 19 0.0 18 0.6 0.0 -1.4 15 0.0 3.2 14 13 1.6 -0.9 4.4 0.0 8.0 -0.3 -0.2 -2.1 0.0 -0.3 0.9 -1.3 8.2 9 12 8 0.0 0.4 -0.4 94.8 0.2 0.9 7.0 -0.3 0.0 1.4 102.2 -0.4 1.9 1.0 -1.3 -0.5 87.3 -0.6 0.0 2.4 Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates -2.6 1.0 0.4 1.3 F.221 FarmMortgages(1) 78.5 -0.5 0.0 2.7 2.2 0.8 0.4 3.9 61.7 2 -0.0 2.4 (1) Liabilityofthehouseholdsandnonprofitorganizationssector(tableF.101). 12.2 82.4 3 0.9 0.4 7.8 -0.0 68.0 4 22FA643065505REITs 2.7 12.4 58.5 0.9 -0.0 15.6 132.1 21FA613065503Financecompanies -39.9 12.4 85.7 137.2 20FA673065505ABSissuers 0.8 38.9 1.0 19FA413065505Agency-andGSE-backedmortgagepools 12.4 144.4 116.0 -0.3 0.9 2.3 70.9 18FA223065545Stateandlocalgovt.retirementfunds 12.4 17FA573065505Privatepensionfunds 88.4 45.2 -8.8 -0.5 12.4 16FA543065505Lifeinsurancecompanies 21.8 15FA513065505Property-casualtyinsurancecompanies 99.4 12.3 38.7 14FA743065505BanksinU.S.-affiliatedareas 88.3 11.7 13FA753065503ForeignbankingofficesinU.S. -85.0 12FA763065503U.S.-chartereddepositoryinstitutions 186.2 14.2 -25.7 130.5 11FA213065503Stateandlocalgovernments 10FA313065505Federalgovernment 9FA113065503Nonfinancialnoncorporatebusiness 8FA103065503Nonfinancialcorporatebusiness 7FA153065505Householdsector 6FA893065505Netchangeinassets 5FA123165503REITs 4FA113165505Nonfinancialnoncorporatebusiness 3FA103165505Nonfinancialcorporatebusiness 2FA163165505Nonprofitorganizations(1) 1FA893065505Netborrowing Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.220 CommercialMortgages 66 3 F43665 oenetsosrdetrrss71405964686160665313 5.3 12 6.6 0.0 14 -0.2 10 0.1 6.0 0.0 9 -1.3 3.0 0.0 6.1 0.0 -0.0 4.2 0.0 6.8 -0.0 0.0 6 0.1 4.1 0.1 6.4 -0.0 0.0 0.1 4.1 -0.0 -0.4 2 5.9 0.0 3 3.2 0.1 4.9 4.1 0.0 -0.2 4.0 0.0 4.0 0.1 -1.0 7.0 4.1 0.1 7.1 0.0 3.8 0.3 0.1 7.2 4.4 -0.1 0.0 3.7 -0.0 0.1 7.1 4.0 3.9 0.1 6.9 5.2 (1) Excludesmortgagesonfarmhouses. 3.9 0.2 7.0 14FA413065605Agency-andGSE-backedmortgagepools 3.0 13FA403065605Government-sponsoredenterprises -0.0 6.5 12FA223065643Stateandlocalgovt.retirementfunds 3.0 7.2 11FA543065633Lifeinsurancecompanies 4.4 10FA753065603ForeignbankingofficesinU.S. 12.8 9FA763065633U.S.-chartereddepositoryinstitutions 8FA213065603Stateandlocalgovernments 7FA313065605Federalgovernment 6FA113065603Nonfinancialnoncorporatebusiness 5FA153065605Householdsector 4FA893065603Netchangeinassets 3FA233165605Nonfinancialnoncorporatebusiness 2FA183165605Nonfinancialcorporatebusiness 1FA893065603Netborrowing

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 1. 2. 2. 3. 4. 112011382526 205.2 123.8 200.1 81.1 1 205.2 142.9 123.8 137.0 200.1 127.9 81.1 123.2 117.7 142.9 137.0 127.9 123.2 117.7 2. 021. 731. 3. 322. 4320 44.3 26.0 63.2 -30.0 10.2 17.3 12.2 -0.2 -25.5 712. 231. 41712. 582. 16 26.1 15.8 23.4 7.1 24.1 17.6 32.3 21.3 17.1 721. . 091. 091. 10814 8.1 11.0 1 11.0 8.1 10.9 11.0 10.8 11.0 10.9 10.9 9.5 10.8 10.2 10.9 17.2 9.5 10.2 17.2 51-. 02431. . . 04-. 21 -0.4 -0.4 1.2 1.2 15.1 4.3 -0.2 -0.6 -5.1 5 -7.2 14.0 4.4 -1.9 -3.0 3.4 -11.4 10.3 -1.3 . . 11832. 061. 2. 1022 11.0 -27.1 17 15.5 8.5 20.6 2.4 24.0 3.5 8.3 2.2 11.1 11 0.8 2.4 10 0.7 4.8 0.8 2.6 0.6 7 -0.1 0.1 0.9 2.9 -4.6 0.1 -0.8 4.8 1.8 0.2 0.1 0.7 2.6 0.3 0.0 -0.1 -1.5 0.0 2.8 0.2 0.1 0.7 0.9 0.1 1.4 -0.1 0.4 ...... 11 0.5 0.7 8 7 0.7 0.0 1.2 0.7 0.1 1.3 5 0.7 0.1 -2.1 1.3 0.7 -0.0 -0.5 1.2 0.9 0.0 -1.2 0.3 1.8 -1.4 0.0 1.0 -1.2 0.7 -0.1 0.8 -1.1 0.0 0.6 -2.3 0.1 0.6 0.6 3.2 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

A0060 Gvrmn-pnoe nepie ...... 9 0.0 0.0 0.0 5 4 0.0 3 0.0 0.4 7 -3.4 -25.7 0.0 0.0 17.7 -2.5 74.8 0.0 -14.4 0.0 -3.3 94.1 (5) Includesstudentloansbefore2006:Q1. 0.0 -6.1 -4.5 104.5 financecompanies(partofline11).Databeginin2006:Q1. 0.0 (4) Includesstudentloansheldbynonprofitorganizations(line3),thefederalgovernment6),depositoryinstitutions(partoflines7and8), 2.9 0.0 82.4 -3.9 (3) Revolvingcreditthatalsoincludesoverdraftplansoncheckingaccountsandotherloanswithoutafixedrepaymentschedule. 0.0 loansthatthegovernmentpurchasedfromdepositoryinstitutions,financecompanies,andnonprofiteducationalindefault. 89.0 0.0 0.0 (2) IncludesloansoriginatedbytheDepartmentofEducationunderFederalDirectLoanProgramandPerkinsLoans,aswellFamily -3.6 1 0.0 (1) StudentloansoriginatedundertheFederalFamilyEducationLoanProgram.Assetsofhouseholdsandnonprofitorganizationssector(tableF.101). 65.8 62.5 0.2 0.0 -3.8 15FA153166205Otherconsumercredit(5) 171.1 79.8 14FA153166220Studentloans(4) 0.5 -6.2 0.0 198.7 13FA153166400Autoloans 103.8 12FA153166100Creditcardloans(3) 176.5 -3.6 1.2 0.0 Memo: 184.2 182.6 11FA613066005Financecompanies 10FA673066000ABSissuers 181.6 9FA403066005Government-sponsoredenterprises 192.3 8FA473066000Creditunions 230.1 7FA763066000U.S.-chartereddepositoryinstitutions 6FA313066220Federalgovernment(2) 5FA113066003Nonfinancialnoncorporatebusiness 4FA103066005Nonfinancialcorporatebusiness 3FA163066223Nonprofitorganizations(1) 2FA153166000Netchangeinassets 1FA153166000Netchangeinliabilities(Households) Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.222 ConsumerCredit 0621 0821 2019 2019 2018 2017 2016 3. 9. 8. 8. 8. 7. 9. 7. 582 65.8 171.1 198.7 176.5 184.2 182.6 181.6 192.3 230.1 1. 71-. . 28881555-2811 -22.8 5.5 1.5 8.8 -2.8 3.2 -6.9 -7.1 -13.0 778. 317. 598. 585. 4014 44.0 13 25.2 12 58.0 -83.3 38.3 37.1 85.8 52.4 46.3 82.9 33.3 49.0 65.9 8 53.1 47.4 26.1 73.2 6 44.3 77.4 -0.9 39.6 83.1 34.2 67.8 36.8 84.5 36.1 39.5 88.9 57.7 87.7 -12.5 71.9 92.4 30.2 61.7 83.4 13.2 83.1 50.8 90.7 38.1 96.3 38.0 99.6 . 052. 563. 131. 767. 15 79.9 37.6 14.3 11.3 10 -7.6 39.2 8.6 25.6 -4.0 27.6 -6.2 10.5 -7.9 8.8 -2.4 -11.9 -9.1 4.1 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 67 2020

Transactions Transactions 6 F33615 eea oenetrtrmn ud 5665-16-. 01-. 1. . 4. 26 22 -48.1 0.0 3.9 0.0 23 27 21 -5.8 -298.2 4.5 -14.4 19 -264.4 0.0 -3.4 -16.9 -9.9 1.5 33.6 25.4 -3.4 0.0 -0.1 -96.5 -2.7 -5.5 -3.4 0.0 -122.4 -5.1 1.9 -112.4 -10.1 -3.4 17 0.0 -21.6 -27.6 -16.4 2.4 -1.8 -3.4 6.5 -61.9 -17.6 0.0 20.1 0.8 -3.4 -93.5 -16.3 -5.6 33FA263064105Restoftheworld(3) 0.0 9.8 2.5 -16.1 -3.4 32FA503064105Otherfinancialbusiness 10 -0.0 -15.5 31FA663064103Brokersanddealers 2.9 27.6 -3.4 -2.0 -16.4 30FA563064100Exchange-tradedfunds -4.4 -3.4 -6.9 29FA553064103Closed-endfunds -38.3 28FA653064100Mutualfunds -5.5 -89.2 4 27FA223064145Stateandlocalgovt.retirementfunds 4.1 26FA343064105Federalgovernmentretirementfunds -7.6 67.2 25FA573064105Privatepensionfunds 5 24FA543064105Lifeinsurancecompanies -10.8 4.0 -14.1 23FA513064105Property-casualtyinsurancecompanies 3 -4.2 260.1 -14.5 6.9 22FA753064103ForeignbankingofficesinU.S. 21FA763064105U.S.-chartereddepositoryinstitutions 4.5 185.2 -7.2 20FA713064103Monetaryauthority 1.3 180.4 -6.1 0.9 19FA213064103Stateandlocalgovernments 345.0 2 -6.8 18FA313064105Federalgovernment -4.0 -402.4 3.2 128.1 17FA103064103Nonfinancialcorporatebusiness 1.4 -486.7 209.7 -7.9 16FA153064105Householdsector -421.2 198.4 -5.2 -153.8 15FA893064105Netpurchases -9.7 418.9 -693.7 2.8 14FA263164100Restoftheworld(2) -12.8 255.5 -438.8 13FA503164105Otherfinancialbusiness -529.6 -18.9 -5.0 12FA733164103Holdingcompanies -320.8 11FA663164103Brokersanddealers -576.8 10FA403164105Government-sponsoredenterprises 9FA643164103REITs 8FA564090005Exchange-tradedfunds 7FA554090005Closed-endfunds 6FA543164173Lifeinsurancecompanies 5FA513164103Property-casualtyinsurancecompanies 4FA763164103U.S.-chartereddepositoryinstitutions 3FA793164105Domesticfinancialsectors 2FA103164103Nonfinancialcorporatebusiness 1FA893064105Netissues Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.223 CorporateEquities(1) 68 1 F23625 tt n oa ot eieetfns-03132. 58-4059-889. 4. 11 -45.2 8 1.2 93.7 6 -68.8 -5.8 4 0.1 5.9 5.0 2.7 -1.9 -54.0 5.0 4.9 -0.2 -5.8 5.0 -1.1 0.1 23.3 5.0 0.1 -6.2 1.3 5.0 -1.1 -2.1 -30.3 5.0 1.2 -5.9 0.0 -9.8 -3.7 (1) Sharesofopen-endinvestmentcompanies; excludes sharesofmoneymarketfundsandexchange-tradedfunds. 7.6 -1.8 12FA263064203Restoftheworld -3.3 11FA223064205Stateandlocalgovt. retirementfunds 10FA573064205Privatepensionfunds 9FA543064205Lifeinsurancecompanies 8FA513064205Property-casualtyinsurancecompanies 7FA473064205Creditunions 6FA763064203U.S.-chartereddepositoryinstitutions 5FA213064203Stateandlocalgovernments 4FA103064203Nonfinancialcorporatebusiness 3FA153064205Householdsector 2FA653164205Netpurchases 1FA653164205Netissues Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.224 MutualFundShares(1) (3) NetpurchasesofU.S.issuesbyforeignresidents. (2) NetpurchasesofforeigncorporateequitiesandinvestmentfundsharesbyU.S.residents;includesAmericanDepositaryReceipts(ADRs). (1) Includessharesofexchange-tradedfunds,closed-endandrealestateinvestmenttrusts.ExcludesmutualfundshownontableL.224.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 1631699. 100-9. 2. 250-0. 4. 33 748.1 -107.5 -275.0 620.3 -997.8 -190.0 28 -381.3 96.4 25 -261.6 -130.6 116.9 -192.1 -49.8 -186.3 -195.9 -71.5 -234.4 -91.6 -221.0 -120.5 -142.3 -133.4 -88.8 -111.5 -98.4 -53.1 -113.5 15 320.5 -550.9 -553.7 -41.4 -774.5 -480.1 -137.1 238.0 -299.5 1 320.5 -550.9 -553.7 -41.4 -774.5 -480.1 -137.1 238.0 -299.5 8. 4. 1. 6. 2. 0. 4. 9. 7. 30 270.6 197.3 141.5 204.4 120.4 165.9 210.4 347.3 188.4 8 360.1 348.4 324.9 359.8 257.0 322.6 311.0 471.0 284.1 2. 59-4511-23891. 41-0324 -20.3 -4.1 12.0 8.9 -12.3 1.1 -44.5 -5.9 -24.5 12 -139.4 -184.2 -164.2 -119.8 -131.0 -149.8 -111.3 -78.6 -33.5 4. 7. 8. 8. 5. 110-49-11-4. 9 -140.3 -91.1 -94.9 -101.0 -59.1 -86.6 -87.0 -75.9 -44.4 17199141-5. 289-3. 329-4. 6. 14 462.7 9 21.3 -249.4 -312.9 29.6 -232.6 33.7 -208.9 -251.0 50.7 194.1 32.7 139.9 36.7 21.7 21.5 41.8 32.4 093. 87-57108-4. 3. 7. 4. 12 -48.6 -75.9 -37.3 -240.3 130.8 -55.7 28.7 32.6 3 60.9 -879.3 2 529.9 -1320.7 1 484.1 375.1 -1320.7 105.0 345.5 484.1 33.9 154.5 105.0 351.2 33.9 210.0 -24.1 208.2 210.0 309.1 -63.3 208.2 52.2 318.4 -63.3 28.8 318.4 28.8 54-63-99-28-516. 2. 9. 4331 54.3 -94.9 -23.2 62.2 -35.1 -22.8 -19.9 18 0.0 -26.3 0.0 -5.4 0.0 0.0 16 147.2 0.0 62.0 11 0.0 31.3 -167.5 -525.5 12.5 4.0 675.4 2.6 11.1 -0.1 -95.9 64.7 -0.1 133.3 6 8.6 -22.5 -7.3 22.1 -10.7 -17.1 -2.3 -16.6 9.3 -23.4 -1.3 -17.0 -11.9 -16.2 -6.3 194. 10043. 19-772. 25910 -215.9 7 29.4 1.1 -77.7 -0.4 11.9 -0.1 38.1 0.7 0.4 0.9 11.0 0.3 41.1 -1.9 0.4 0.1 -0.1 ...... 32 0.0 0.0 29 0.0 -0.0 4.7 0.0 -0.1 0.0 5.3 0.0 20 0.5 0.0 0.0 2.6 0.0 0.0 -0.4 0.0 0.0 -0.5 0.0 0.1 0.0 13 0.0 0.0 0.0 0.0 0.0 0.0 7 3.5 0.0 0.0 4.6 0.0 6.3 0.0 6.9 0.0 5.7 0.0 5.9 0.0 1.8 0.7 0.8 ...... 5 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

6 F23703 tt n oa oenet 75622. 08161. 5893-6016 -16.0 17 35.5 9.3 -10.9 15.8 -7.0 14 16.4 56.9 24.1 1.6 62.2 13 14.5 -131.8 60.7 10.8 -30.9 5.2 11 66.3 46.3 27.8 -105.8 7 17.8 186.4 36.1 54.2 5.0 6.2 6 267.5 9.4 -9.2 55.8 51.3 0.2 17.5 79.3 3.7 64.3 312.0 51.1 4.0 396.4 385.1 4 55.0 50.4 160.9 90.6 181.0 5.3 21FA903070005Discrepancy 3 76.7 50.4 198.8 554.2 -6.3 79.2 20FA263070005Restoftheworld 1.6 49.1 294.0 -6.7 86.1 19FA673070003ABSissuers 334.8 2.8 50.2 18FA543070005Lifeinsurancecompanies 1 51.7 -21.2 17FA513070005Property-casualtyinsurancecompanies 268.7 48.1 8.4 110.7 62.3 16FA213070003Stateandlocalgovernments 156.5 45.3 15FA313070000Federalgovernment 253.3 1.0 69.8 187.3 84.0 43.2 14FA113070003Nonfinancialnoncorporatebusiness 254.3 76.1 13FA103070005Nonfinancialcorporatebusiness 6.8 320.7 404.5 7.9 12FA163070005Nonprofitorganizations(1) 81.3 250.7 11FA893070005Netchangeintradereceivables 66.0 513.4 184.2 10FA263170005Restoftheworld 221.1 370.5 9FA663170003Brokersanddealers 8FA543170005Lifeinsurancecompanies 7FA513170005Property-casualtyinsurancecompanies 6FA213170003Stateandlocalgovernments 5FA313170005Federalgovernment 4FA113170005Nonfinancialnoncorporatebusiness 3FA103170005Nonfinancialcorporatebusiness 2FA163170005Nonprofitorganizations(1) 1FA893170005Netchangeintradepayables Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.225 TradeCredit A6000 US-hree eoioyisiuin ...... 7 3.6 7.3 5.8 8.2 5.4 6.7 3.9 6.4 5.6 10FA543141905Restoftheworld 9FA733040005Holdingcompanies 8FA543040005Lifeinsurancecompanies 7FA763040005U.S.-chartereddepositoryinstitutions 6FA153040005Householdsector 5FA893140005Netchangeinassets 4FA263140005Restoftheworld 3FA543140005Lifeinsurancecompanies 2FA313140003Federalgovernment 1FA893140005Netchangeinliabilities Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.226 LifeInsuranceReserves (1) Includedinthehouseholdsandnonprofitorganizationssector(tableF.101). 0621 0821 2019 2019 2018 2017 2016 0. 641. 442. 388. . 2. 5 128.2 0.8 80.1 1 128.2 33.8 0.8 22.9 80.1 34.4 33.8 11.9 22.9 66.4 34.4 106.2 11.9 66.4 106.2 57-28-076. 94-7716510422321 202.3 18 120.4 68.7 196.5 -12.5 -57.7 19.9 19.4 13.4 69.6 4.2 -40.7 -72.8 6.3 35.7 9 -0.7 17.5 11.1 8 1.2 97.8 24.7 1.8 5 -10.2 14.3 30.8 0.5 36.5 21.8 -7.5 0.4 11.9 -1.0 1.6 13.6 -27.8 29.3 15.2 7.9 17.0 37.5 10.4 57.0 19.6 17.5 29.4 1027-...... 10 1.5 8 0.1 20.5 0.5 2.8 6 98.6 0.3 4 12.6 5.5 -13.4 0.2 6.6 57.2 3 0.7 123.3 0.3 5.0 14.7 3.3 -0.2 -9.3 8.3 6.7 75.1 1.7 2.7 16.7 -36.2 32.5 1.3 49.4 34.2 11.0 19.5 1.8 19.0 43.8 31.7 41.8 -31.6 43.3 23.1 43.4 24.3 81.8 01-. . . 25-. 16839519 9.5 8.3 -1.6 -1.6 -2.5 0.6 1.4 -1.5 -0.1 . 653. 983. 611. 513. 20 36.4 15.1 10.2 15 2.4 16.1 -9.1 12 37.7 4.8 -6.1 19.8 4.8 6.1 32.6 4.8 10 3.2 46.5 -14.9 4.8 -7.9 6.4 -1.5 4.8 21.9 10.4 -0.7 0.1 4.8 -8.6 3.8 4.3 1.2 6.3 2 2.4 13.5 3.2 13.0 7.7 13.0 2.7 13.0 13.0 13.0 13.4 14.9 8.2 ...... 9 4.0 4.0 4.0 4.0 2 -0.6 4.0 0.3 4.0 1.6 4.0 -0.4 4.0 2.0 4.0 0.9 0.2 -0.2 0.1 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 69 2020

Transactions Transactions 7 F13355 te efdrce cons9. 5. 7. 3. 329. 7. 107N 17 ND -130.7 479.4 95.5 12 93.2 ND 134.4 155.8 11 372.2 -108.0 ND 359.3 0.1 319.4 97.5 Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates -102.8 461.6 F.228 TaxesPayablebyBusinesses -13.7 2 221.1 231.3 21.0 4 159.5 80.2 -51.1 inthelifeinsurancesector(line14)andexcludedfrommoneymarketfundmutualsectors(lines1516). 5 290.4 -13.1 (5) Assetofthehouseholdandnonprofitorganizationssector(tableF.101).Figuresfordepositories(lines1213)includeKeoghaccounts.VariableannuitiesinIRAsareincluded 208.7 81.4 81.0 412.6 (4) Excludesallindividualretirementaccounts(IRAs),exceptthoseatlifeinsurancecompanies. 36.5 (3) IncludestheThriftSavingsPlan,NationalRailroadRetirementInvestmentTrust,andotherfederalgovernmentretirementfunds. 255.1 443.5 29.1 89.0 (2) Includesunallocatedinsurancecompanycontractsbeginning1985:Q4. 229.2 (1) Annuities,includingthoseinIRAs. 193.4 -39.9 88.8 239.2 17FA153131575Otherself-directedaccounts 4.9 276.2 86.3 16FA653131573Mutualfunds 15FA633131573Moneymarketfunds 249.9 43.2 86.3 14FA543131503Lifeinsurancecompanies 13FA473131573Creditunions 225.4 -1.0 85.8 12FA763131573U.S.-chartereddepositoryinstitutions 238.4 11FA893131573IndividualRetirementAccounts(IRAs):(5) 83.2 -8.5 206.3 Memo: 89.7 10FA543151905Restoftheworld 9FA543050005Lifeinsurancecompanies 8FA153050005Households(4) 7FA893150005Netchangeinassets 6FA263150005Restoftheworld 5FA224190005Stateandlocalgovt.retirementfunds 4FA344090005Federalgovernmentretirementfunds(3) 3FA574190005Privatepensionfunds(2) 2FA543150005Lifeinsurancecompanies(1) 1FA893150005Netchangeinliabilities Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.227 PensionEntitlements 70 A5000 Ttlhueodivsmn 2259. . . 8909-67-. 571 45.7 2 40.3 -9.0 -20.5 -26.7 -35.5 0.9 0.9 58.9 11 58.2 -2.3 6.0 0.8 9.6 6.4 -3.2 10.4 99.4 98.5 4.1 -202.5 -219.9 -1.3 5.7 5 9 10.6 -107.0 3 6.6 -68.4 5.8 3.9 4 -66.9 -123.5 5.2 6.3 -3.6 -112.3 3FA662090003Brokersanddealers 2 20.4 2FA112090205Nonfinancialnoncorporatebusiness 10.8 33.8 -83.8 -5.5 6.2 40.8 1 1FA152090205Totalhouseholdinvestment -97.0 -9.7 -1.3 4.1 4.7 13.8 -44.3 38.8 Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates 19.4 -16.8 -0.2 229.0 5.5 F.229 Proprietors’EquityinNoncorporateBusiness -75.9 78.6 14.5 34.5 -0.7 5.7 -12.3 -69.6 5.4 4.9 -14.8 6.6 -13.3 12FA903078005Discrepancy 32.6 -10.6 1.0 3.8 4.6 11FA213078005Stateandlocalgovernments 211.1 0.9 10FA313078000Federalgovernment -4.7 -8.1 10.0 9FA893078005Netchangeinbusinesstaxesreceivable 276.5 8FA663178005Brokersanddealers 5.2 7FA613178005Financecompanies 6FA543178075Lifeinsurancecompanies 5FA513178005Property-casualtyinsurancecompanies 4FA763178003U.S.-chartereddepositoryinstitutions 3FA113178003Nonfinancialnoncorporatebusiness 2FA103178005Nonfinancialcorporatebusiness businesses 1FA893178005Netchangeintaxespayablebyall

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 2. 7. 9. 0. 9. 1. 5. 7. 6. 8 562.2 7 370.0 599.3 450.4 375.1 412.2 463.5 394.5 420.4 406.8 401.4 1 393.7 599.3 415.1 471.9 375.1 504.8 324.5 463.5 480.1 420.4 322.6 401.4 415.1 504.8 480.1 322.6 2. 753. 0. 054. 0. 7815712 105.7 87.8 202.1 42.7 70.5 100.8 39.6 47.5 -29.3 00-. 504. . 208. 60N 15 16 ND 14 ND ND 56.0 161.0 75.4 84.0 -17.6 19.6 44.4 52.0 25.2 121.4 4.0 39.8 77.3 49.0 40.0 -6.0 25.0 0.6 81.0 -4.0 20.7 14.9 3 30.0 64.9 13.0 88.1 59.1 60.2 76.2 70.9 91.8 156.0 41.1 7310955207-. . 15533 5.3 11.5 8.8 -0.0 0.7 5.2 9.5 1.0 17.3 10 -104.7 -78.0 -133.9 -116.4 -82.5 -102.7 -50.8 223.8 23.6 31781017763761. . 489 34.8 4.7 6 14.1 12.2 1.9 7.6 4.9 6.3 3.1 7.7 2.6 100.1 7.8 3.1 -3.1 58.7 3.6 -5.9 . 04-...... D13 ND 1.9 4.2 10 2.2 3.9 0.4 3.9 1.0 3.5 0.6 -0.2 0.5 -0.4 0.6 1.6 11.0 0.4 1.2 . 0305-. . 07-. 66538 5.3 7 -0.1 6 -6.6 10.1 1.4 -1.1 3.6 -1.7 -0.7 -0.8 -2.2 2.6 -3.7 0.8 -1.4 2.7 -0.4 0.5 0.4 -3.0 10.3 -2.9 11.0 0.1 2.0 0.3 1.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

1 F23933 ..aflae’laiiis(ie3)7. . 6. 1. . . 2. 3. 5. 41 -51.6 40 -70.1 -33.4 -103.1 36 -20.6 34.9 93.9 9.4 35 2.2 77.2 -38.9 2.1 -21.6 88.1 38.8 -33.8 -10.6 39.0 -4.4 37 77.1 133.7 -60.1 -38.7 6.9 -159.3 6.6 174.0 39.8 31 -20.2 34.9 30 32 10.9 260.7 -51.6 89.9 78.5 28.3 44.5 370.7 2.2 28.6 -33.4 140.8 23 437.8 3.8 0.0 23.0 27 -20.6 38.8 168.3 97.9 310.8 28 -3.8 9.4 447.1 -19.9 0.0 14.7 -4.4 258.4 118.0 24 34.5 112.3 354.7 14.7 2.1 6.9 128.9 0.0 21 19 -112.0 -1.6 274.9 197.7 494.4 150.9 14.7 -10.6 41.5 10.9 0.0 41FA263092323U.S.affiliates’liabilities(line32) 128.0 -78.5 26 164.1 8.7 40FA263092313U.S.parents’liabilities(line8) 14.7 100.9 17 -60.1 297.9 53.8 28.6 384.6 39FA263092345Intercompanydebt -10.0 140.4 0.0 16 192.5 38FA263092101Equity(line27) 16.8 6.6 14.8 342.9 318.3 18 -5.2 28.8 6.5 146.8 23.0 37FA263092035NetU.S.incurrenceofdirectinvestmentliabilities -9.6 58.5 0.0 260.9 1.7 14.7 107.7 78.5 1.7 60.2 36FA263192323U.S.affiliates’claims(line33) -19.9 -1.5 1.4 133.3 268.4 35FA263192313U.S.parents’claims(line7) 91.6 0.0 14.9 12.8 34FA263192345Intercompanydebt 46.1 183.6 1.0 291.9 -2.1 15 33FA263192101Equity(line2) 5.4 14.6 12 91.0 10.0 0.0 142.0 32FA263192035NetU.S.acquisitionofdirectinvestmentassets 486.0 -29.4 -1.6 1.1 7.2 14.2 -3.3 210.4 232.7 4.1 34.1 Directinvestment,asset/liabilitypresentation: 0.0 -11.1 200.5 2.1 2.5 87.3 11 -1.6 10 -113.1 Memo: -0.7 7.0 -9.7 -6.0 296.0 273.0 1.5 6.5 0.5 31FA263192323Less:U.S.affiliates’claims 7 -6.1 -10.0 4.8 2.0 318.3 30FA263092323U.S.affiliates’liabilities -38.9 8 6 29FA263092303Intercompanydebt 2.9 7.7 -1.6 10.7 9 4.5 227.8 -70.1 28FA263092193Ofwhich:Current-costadjustment -21.6 31.1 34.4 142.0 27FA263092125Reinvestedearnings 231.6 -2.2 0.3 -103.1 2.7 9.2 -33.8 -3.4 26FA263092113Equity(otherthanreinvestedearnings) 81.5 229.6 -7.2 4 5 248.9 93.9 25FA263092101Equity 30.0 108.7 133.7 1 -35.9 23.1 9.5 24FA263092001Asset:Restoftheworld(1) 2.2 -11.7 -127.7 1.4 409.1 125.1 77.2 169.1 -159.3 56.5 357.8 3 2.7 23.0 23FA503192003Otherfinancialbusiness -0.4 241.8 -20.2 7.7 148.9 22FA733192003Holdingcompanies -14.7 88.1 -113.7 -247.3 21FA663192005Brokersanddealers 23.0 35.7 -11.9 44.5 285.1 109.4 10.8 -8.8 20FA613192003Financecompanies -59.2 39.0 7.0 19FA543192073Lifeinsurancecompanies 22.9 167.2 374.3 -68.9 3.8 1.5 83.2 18FA513192003Property-casualtyinsurancecompanies 14.4 -38.7 12.2 192.6 -60.5 17FA753192003ForeignbankingofficesinU.S. 282.3 22.8 -36.0 39.8 16FA115114005Nonfinancialnoncorporatebusiness -3.8 32.7 9.3 -229.7 147.8 259.9 -2.5 15FA103192005Liab.:Nonfinancialcorporatebusiness 22.9 -32.1 328.0 28.3 19.6 -68.4 ForeigndirectinvestmentinU.S.: 22.2 298.3 321.8 14.5 14FA663092003Brokersanddealers 21.4 309.9 13FA613092003Financecompanies 78.0 12FA543092073Lifeinsurancecompanies 20.6 11FA513092003Property-casualtyinsurancecompanies 29.9 10FA763092000U.S.-chartereddepositoryinstitutions 9FA103092005Asset:Nonfinancialcorporatebusiness 43.7 8FA263092313Less:U.S.parents’liabilities 7FA263192313U.S.parents’claims 6FA263192305Intercompanydebt(2) 5FA263192193Ofwhich:Current-costadjustment 4FA263192125Reinvestedearnings 3FA263192113Equity(otherthanreinvestedearnings) 2FA263192101Equity 1FA263192005Liab.:Restoftheworld(1) U.S.directinvestmentabroad: Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.230 DirectInvestment (2) Through1992:Q4,U.S.directinvestmentabroadexcludesnetinflowsfromcorporatebondsissued byNetherlandsAntilleanfinancialsubsidiaries. (1) Directinvestmentispresentedonadirectionalbasis. 0621 0821 2019 2019 2018 2017 2016 0. 64-882. 028. 33-3. 11639 -121.6 -136.5 38 198.8 73.3 310.5 86.6 187.4 90.2 284.1 33 94.0 28.4 347.6 160.3 282.4 -98.8 163.3 357.2 46.4 317.7 308.2 106.9 186.8 387.6 207.0 -151.6 357.9 25 198.8 342.0 22 310.5 164.5 187.4 -30.7 284.1 -45.4 347.6 -6.7 282.4 -52.0 357.2 -33.7 308.2 33.9 387.6 -8.2 145.4 2 94.0 160.3 163.3 317.7 186.8 207.0 -151.6 357.9 342.0 2. 677. 94-5. 2. . 1. 4034 -4.0 -19.5 5.0 129.3 -152.4 -9.4 73.2 26.7 -23.7 84-63-87-15-. 38-94-56-6529 -86.5 -35.6 -59.4 13.8 -4.8 -21.5 -88.7 -16.3 98.4 14 -6.1 13 6.5 -1.8 33.0 6.1 33.3 20.0 9.5 24.8 13.0 12.3 22.2 -8.1 2.5 8.0 15.1 21.7 33.3 15188163-. . 081. 4820 -4.8 13.1 10.8 5.6 -4.1 6.3 8.1 1.8 -1.5 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 71 2020

Transactions Transactions 0 F43905 oenetsosrdetrrss26-98-573. 075. 94-219. 40 91.3 -32.1 79.4 50.2 30.7 35 -36.3 36 32.1 294.4 -13.3 30 32 -19.8 337.8 -15.7 69.0 -461.9 29 315.1 -18.8 105.1 -39.8 234.5 -62.6 278.8 6.9 -24.9 92.1 2.6 48FA903090005Discrepancy 33.1 352.6 -36.2 -37.2 28 -20.1 47FA263076005Restoftheworld 28.2 321.1 222.4 6.7 -50.0 -14.3 46FA503094505Otherfinancialbusiness 156.8 -186.7 -23.2 45FA733090005Holdingcompanies 8.1 -11.5 58.9 68.1 267.9 44FA663090005Brokersanddealers -6.1 1.4 303.8 120.5 3.4 -5.6 43FA643090005REITs 23 22.4 24 42FA613090005Financecompanies 1465.8 96.9 -8.4 164.3 41FA673090543ABSissuers -20.4 851.3 29.1 40FA403093005Government-sponsoredenterprises 245.8 22.4 7.0 33.7 635.5 26.4 240.3 39FA563093003Exchange-tradedfunds -64.5 -297.6 10.7 38FA653093005Mutualfunds 185.1 -2.1 37FA633093005Moneymarketfunds -29.4 215.0 39.9 36FA223090005Stateandlocalgovt.retirementfunds 296.8 14 221.5 54.5 35FA343073045Federalgovernmentretirementfunds 501.0 34FA573090005Privatepensionfunds 242.5 18.1 75.7 10 33FA543090005Lifeinsurancecompanies 416.3 0.4 32FA513090005Property-casualtyinsurancecompanies 33.8 365.9 230.7 12 31FA473090005Creditunions -1.0 -34.8 38.1 30FA743093005BanksinU.S.-affiliatedareas 9 -7.5 29FA753093005ForeignbankingofficesinU.S. 0.0 69.2 28FA763090005U.S.-chartereddepositoryinstitutions 185.2 27FA713090005Monetaryauthority 2.4 -98.6 -0.0 72.0 26FA313090005Federalgovernment 8 -37.6 1.4 6 110.6 -0.1 25FA213093003Stateandlocalgovernments 154.7 369.6 -36.9 64.7 24FA113090005Nonfinancialnoncorporatebusiness 97.9 0.3 -0.3 224.8 4 23FA103090005Nonfinancialcorporatebusiness 46.2 79.1 22FA153090005Householdsector 100.4 -146.8 363.4 -0.9 3.7 -31.7 3 348.8 42.2 87.9 235.0 21FA893090005Netchangeinassets 0.3 441.4 27.0 302.7 286.5 111.1 85.9 20FA263190005Restoftheworld 1047.3 150.7 -6.2 -1.2 277.4 50.6 593.0 65.5 19FA503190005Otherfinancialbusiness -38.5 149.8 18FA733193005Holdingcompanies 579.1 -16.6 76.6 17FA663190005Brokersanddealers 55.9 210.6 857.9 16FA643193005REITs 79.0 246.7 204.1 769.3 15FA613190005Financecompanies 14FA403190005Government-sponsoredenterprises 90.9 803.7 -84.6 13FA543190005Lifeinsurancecompanies 104.4 12FA513190005Property-casualtyinsurancecompanies 464.3 201.4 11FA473193005Creditunions 10FA743193005BanksinU.S.-affiliatedareas 9FA753190005ForeignbankingofficesinU.S. 8FA763190005U.S.-chartereddepositoryinstitutions 7FA713190005Monetaryauthority 6FA223073045Stateandlocalgovernments 5FA313190005Federalgovernment 4FA113193003Nonfinancialnoncorporatebusiness 3FA103190005Nonfinancialcorporatebusiness 2FA543077073Householdsector 1FA893190005Netchangeinliabilities Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.231 TotalMiscellaneousFinancialClaims 72

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 39370985015. 42712. 15916. 93321 4993.3 1167.1 1165.9 1224.4 1472.7 1257.5 825.0 790.9 1359.3 1 3323.7 1360.7 413.5 1732.5 1933.4 1360.0 878.3 263.6 1444.9 1733. 1228. 2. 53-. 2. 3. 38 -31.7 226.2 -0.2 -5.3 120.1 85.2 -112.2 38.0 -127.3 18 -293.8 -25.6 -46.8 74.6 -47.9 -11.4 -114.9 -261.4 -109.5 8. 4. 2. 95244363-0. 6. 3. 45 235.5 -64.4 -108.2 316.3 254.4 99.5 34 -26.7 -28.9 -44.4 23.4 282.5 55.7 9.5 15.6 26.0 -6.7 8.6 105.2 19 534.8 17 -48.6 -15.5 -107.2 -94.5 -65.2 10.3 23.5 -26.9 -49.4 185.8 25.4 18.7 86.7 -32.8 224.2 -46.1 173.6 3. 99-467. 0. 9. 62-2. 6. 44 560.6 42 52.5 -222.5 46.2 -40.3 25.6 191.7 37 303.1 13.0 11.6 79.6 106.3 -8.3 -54.6 1.6 -2.8 29.9 128.9 26.1 -33.4 -227.0 -16.7 2.4 -13.1 1.4 -0.7 -14.0 20 1393.0 -104.1 19.7 19.8 15 78.0 88.2 -22.7 5.9 -20.4 18.7 36.0 27.0 48.6 -71.1 10.4 -76.2 -3.5 -18.3 56-2. 32125406581-5. 9. 16. 48 -1669.6 193.6 46 -290.3 -752.5 69.3 43 508.1 28.4 93.8 460.6 39 24.2 46.2 102.5 -130.0 -13.7 121.7 53.2 -5.1 -62.6 38.7 -527.3 37.3 1.5 85.6 81.0 -0.0 -12.7 -41.4 1.3 24.8 30.7 33 8.4 438.9 11.5 -92.6 31.0 1.7 98.6 1.6 26 66.1 6.7 11.7 -12.6 2.1 14.9 5.7 48.0 22 34.5 11.9 -16.4 80.4 8.0 16.4 28.5 6.9 41.3 15.0 16.2 16 10.8 -5.2 41.6 13.2 11.2 52.1 28.2 54.2 13 475.7 -47.7 56.7 -21.9 -20.8 158.0 -7.3 116.8 16.1 81.5 4.8 83.6 5 -3.1 -42.8 16.3 26.6 39.7 -489.1 61.2 271.4 115.5 -18.9 -34.5 20.9 13.1 0318191558-. . 051. 2 10.2 -0.5 3.5 -2.8 5.8 1.5 1.9 1.8 -0.3 . 049120072910351747 1.7 3.5 1.0 2.9 41 23.4 0.7 8.2 2.0 4.2 9.1 -1.0 10.4 13.3 1.2 6.2 31 3.1 48.5 -6.1 12.0 14.2 6.8 27 0.2 1427.4 16.6 25 14.4 70.7 -7.5 5.7 -58.6 -1.1 12.1 7.4 -16.8 57.8 1.5 -2.2 51.3 -10.8 5.1 15.7 7.4 -7.3 4.7 -28.7 0.7 11 16.0 -19.8 -16.6 7 4.6 -170.9 215.0 36.5 -89.7 1.2 84.5 -0.0 -210.3 -0.1 1.0 2.0 1.3 0.9 1.6 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

7 F53935 ib: te iaca uies00000000000000000027 0.0 0.0 0.0 0.0 26 0.0 -290.3 69.3 24 0.0 11.4 93.8 23 3.2 0.0 -5.0 -130.0 121.7 -14.5 1.5 0.0 38.7 -64.6 -2.1 0.0 19 17 61.7 81.0 245.0 -23.7 -8.1 -3.5 -41.4 -7.7 0.1 6.1 30.7 43.4 -28.7 16 1.0 -0.6 -0.6 41.1 -20.1 1.7 0.7 -5.6 96.8 2.5 10 1.4 12 15 1.8 14 3.2 29FA313094303Federalgovernment -0.6 60.8 25.4 -1.0 12.5 28FA153094305Asset:Households(1) 0.4 27FA503194305Liab.:Otherfinancialbusiness 1.1 117.7 -23.2 2.1 0.7 -13.1 0.0 -41.1 -55.6 EquityinvestmentunderPublic-PrivateInv.Program: -0.1 7 -11.0 1.2 1.2 11 0.0 -0.5 267.7 0.5 192.0 26FA503094505Asset:Otherfinancialbusiness 0.2 2.5 25FA663194505Brokersanddealers 0.8 67.7 0.0 9 -0.2 -0.0 5 24FA753194503Liab.:ForeignbankingofficesinU.S. 0.0 -0.6 22.1 1.3 25.9 103.0 1.2 0.4 0.0 0.7 Otherfinancialbusinesses’investmentinaffiliates: 6 0.0 -0.0 -4.0 4.8 -2.6 4 0.3 23FA103094105Asset:Nonfinancialcorporatebusiness 0.6 0.6 -0.0 0.5 1.1 -0.1 -7.1 22FA103094105Liab.:Financecompanies -0.1 -5.4 26.8 0.3 -0.2 -0.0 0.5 -0.2 NFCinvestmentinfinancecompanyaffiliates: 0.6 3.6 0.1 -3.2 3.9 182.5 -0.3 -0.4 0.3 21FA733094705Asset:Holdingcompanies 0.4 0.4 0.1 -10.7 0.0 -10.6 20FA263194735Restoftheworld -0.1 -0.5 19FA663194735Brokersanddealers -4.5 0.2 -3.7 0.4 -0.5 18FA613194733Financecompanies 0.0 0.4 17FA543194733Lifeinsurancecompanies 0.6 1.1 2.6 16FA513194733Property-casualtyinsurancecompanies 0.7 0.0 15FA763194735Liab.:U.S.-chartereddepositoryinstitutions 0.1 0.7 4.2 0.7 -0.6 Holdingcompanynettransactionswithaffiliates: 0.0 0.1 1.9 2.7 0.9 14FA643092473Realestateinvestmenttrusts(FHLB) 13FA613092403Financecompanies 0.3 12FA543092473Lifeinsurancecompanies(FHLB) 0.9 11FA513092403Property-casualtyinsurancecompanies(FHLB) 0.1 10FA473092403Creditunions(FHLB) 1.0 9FA763092405U.S.-chartereddepositoryinstitutions(FHLB) 8FA313092403Federalgovernment 7FA113092405Nonfinancialnoncorporate(FCS) 6FA103092405Asset:Nonfin.corporatebusiness(FannieMaeandFCS) 5FA403192405Liab.:Government-sponsoredenterprises Equityingovt.-sponsoredenterprises: 4FA713164003Asset:U.S.-chartereddepositoryinstitutions 3FA713164003Liab.:Monetaryauthority FederalReserveBankstock: 2FA313092803Asset:Federalgovernment 1FA313092803Liab.:Restoftheworld FederalgovernmentequityinIBRD,etc.: Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.232 IdentifiedMiscellaneousFinancialClaims-PartI (1) FundsinvestedbyfinancialinstitutionssuchasdomestichedgefundsthroughthePublic-PrivateInvestmentProgram(PPIP). 0621 0821 2019 2019 2018 2017 2016 8. 3. 1. 2. 5. 2. 5. 2. 5. 21 250.6 -22.3 -58.7 321.7 256.6 124.3 -16.7 -33.5 283.4 1. 2525-. . 81-. . 5022 -5.0 1.5 -2.1 20 -8.1 18 -27.4 -3.4 6.1 -126.1 -7.0 12.5 -0.6 -1.8 11.6 2.5 -2.5 97.2 12.5 -1.2 -8.1 -13.1 24.9 -4.8 -1.8 -13.3 -6.1 -81.2 -10.9 63-143. 226. 6. 0. 61-0. 25 -301.6 66.1 108.3 -65.5 60.0 42.2 37.7 -21.4 36.3 00-. 020000000100-. 13 -0.0 0.0 0.1 0.0 0.0 0.0 -0.2 -0.0 -0.0 ...... 29 0.0 28 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8 0.0 0.0 0.0 0.0 3 1.1 0.0 2 -3.2 1 0.0 0.0 0.0 0.4 0.0 0.0 0.0 -0.5 0.0 0.0 0.0 0.7 5.2 0.0 5.2 -0.6 0.0 0.9 0.0 1.3 0.9 1.3 1.3 1.0 1.3 1.5 1.5 2.0 2.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 73 2020

Transactions Transactions 5 F53705 se: rvt eso ud 60-92-70-61-03-31-90-19-. 35 -4.9 -31.9 36 -49.0 -36.3 37 369.6 34 -53.1 -13.3 30 369.6 32 6.2 224.8 -4.9 -50.3 -461.9 224.8 363.4 234.5 28.4 -46.1 363.4 -31.9 235.0 92.1 235.0 -77.0 19.7 -49.0 286.5 -37.2 286.5 -79.2 -53.1 10.3 277.4 28 234.0 277.4 -50.0 56.0 -50.3 149.8 -0.9 -124.3 149.8 8.1 210.6 -46.1 35.4 210.6 14.4 246.7 -77.0 -5.6 26 246.7 34.7 32.2 13.9 -79.2 61.1 8.3 9.6 56.0 23 1.7 -43.2 11.8 12.9 8.9 37FA223073045Stateandlocal govt.retirementfunds -18.9 8.2 36FA343073045Federalgovernment retirementfunds 25 36.4 35FA573073005Asset:Privatepension funds 11.2 -8.7 14.2 -40.5 34FA223073045Stateandlocalgovernments 22.0 11.5 10.6 33FA343073045Federalgovernment 19 20 21 32FA573073005Liab.:Nonfinancialcorporatebusiness 9.2 43.5 -1.2 -2.2 9.0 12.2 Claimsofpensionfundonsponsor: 21.4 12.2 19.2 11.7 24.4 18.3 15 31FA313195105Asset:Householdsector -3.3 -0.1 35.1 8.8 9.5 9.2 30FA313195105Liab.:Federalgovernment(3) 5.1 7.8 14.4 5.9 Retireehealthcarefunds: 11.6 20.6 16 15.0 37.7 1.2 29FA663097005Asset:Brokersanddealers 33.8 2.8 7.1 6.6 3.5 28FA663097005Liab.:Otherfinancialbusiness 76.9 12 3.5 13.5 2.3 10.0 15.2 Securitiesborrowed(net): 10.5 21.5 11 10.2 24.4 27.9 -1.4 11.5 27FA573074005Asset:Privatepensionfunds 8.8 2.3 62.9 26FA573074005Liab.:Nonfinancialcorporatebusiness -0.5 11.5 13.9 4.0 14.7 37.2 3.3 Pensionfundcontributionspayable: 3.5 12.1 6.6 44.0 -3.0 20.2 25FA223095505Stateandlocalgovernmentretirementfunds 4.5 8 20.1 24FA573095005Asset:Privatepensionfunds -2.8 44.1 23.4 23FA593095005Liab.:Lifeinsurancecompanies 3.9 17.9 5.8 75.8 8.2 Unallocatedinsurancecompanycontracts: 26.3 -5.3 43.9 1.5 22FA263076005Restoftheworld 4.2 17.6 21FA513076005Property-casualtyinsurancecompanies 7 6 20FA113076005Nonfinancialnoncorporatebusiness 1.9 18.6 18.6 -1.0 19FA103076005Nonfinancialcorporatebusiness 16.0 18FA153076005Asset:Householdsector 1.8 -1.5 -1.5 13.3 17FA263176005Restoftheworld 7.3 7.3 6.2 16FA513176005Liab.:Property-casualtyinsurancecompanies -0.3 3 Policypayables: 2.5 2.5 3.1 1415.8 11.0 15FA543095105Lifeinsurancecompanies 3.1 3.1 12.0 14FA153095105Asset:Householdsector 3.8 6.8 13FA263195105Restoftheworld 2.8 2.8 12FA543195005Liab.:Lifeinsurancecompanies -5.4 -0.2 -0.2 Lifeinsurancecompanyreserves: -11.4 -0.3 -0.3 11FA543077073Asset:Lifeinsurancecompanies -0.5 10FA543077073Liab.:Householdsector -0.4 -0.4 -7.9 Deferredandunpaidlifeinsurancepremiums: 6.5 9FA673090543Asset:ABSissuers 8FA673090543Liab.:Lifeinsurancecompanies(2) 4.6 Fundingagreementsbackingsecurities: 7FA403197033Asset:U.S.-chartereddepositoryinstitutions 6FA403197033Liab.:Government-sponsoredenterprises DepositsatFederalHomeLoanBanks: 5FA313131003Asset:Householdsector 4FA313131003Liab.:Federalgovernment PostalSavingsSystemdeposits: 3FA713091103Monetaryauthority(1) 2FA313091105Asset:Federalgovernment 1FA263191103Liab.:Restoftheworld Nonofficialforeigncurrencies: Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.233 IdentifiedMiscellaneousFinancialClaims-PartII 74 (3) IncludesUniformServices RetireeHealthCareFundandPostalService RetireeHealthBenefitsFund. areincludedinforeigndirectinvestmentthe U.S.SeetablesF.133andF.230. (2) Equaltofundingagreement-backedsecurities (FABS)issuedbydomesticissuersofasset-backedsecurities.Fundingagreement-backedsecurities issuedbyforeignentities (1) Reciprocalcurrencyarrangements(swaplines) withforeigncentralbanks.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 4. 64-89176. 473. 14324029 234.0 -124.3 35.4 34.7 61.1 1.7 -18.9 36.4 -40.5 29961. 44-. 031. 846231 6.2 28.4 19.7 10.3 -0.9 14.4 13.9 9.6 12.9 17 18 4.7 24.7 9.6 28.5 -0.6 2.7 20.6 14 7.8 3.6 -1.3 1.8 23.4 11.8 5.5 9.4 17.9 1.8 10.4 31.6 18.4 21.4 31.1 15.4 12.1 20.3 13.1 12.8 5681-00-729. 3. 419-33-6333 -36.3 -13.3 -461.9 234.5 92.1 -37.2 -50.0 8.1 -5.6 13 -0.0 1.4 0.7 10 10.2 0.5 -0.5 0.5 3.5 0.8 -2.8 -1.5 5.8 -0.7 1.5 -8.5 1.9 1.8 -0.3 . 921. 061. . 18833. 27 32.2 8.3 11.8 24 -34.5 8.2 -2.5 22 14.2 1.7 12.4 10.6 3.5 9.7 12.2 1.0 8.4 19.2 2.9 7.0 8.8 0.7 -4.5 -5.7 2.0 9.4 9.1 10.4 1.2 9 23.4 8.2 4.2 -1.0 5 4 0.0 13.3 0.0 0.0 6.2 0.0 2 0.0 3.1 0.0 0.0 0.0 12.0 0.0 0.0 1 6.8 0.0 1415.8 0.0 0.0 11.0 0.0 0.0 0.0 3.8 0.0 0.0 0.0 -5.4 0.0 -11.4 0.0 0.0 0.0 -0.5 0.0 0.0 -7.9 0.0 6.5 0.0 4.6 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

5 F43905 oenetsosrdetrrss26-98-573. 075. 94-219. 35 91.3 -32.1 79.4 50.2 31 -66.4 30.7 101.5 26 32.1 -47.1 28 -19.8 59.5 25 -15.7 31.5 -18.8 105.1 -81.0 -39.8 30.9 6.9 -24.9 28.0 2.6 -36.2 29.2 -20.1 24 13.3 180.7 6.7 5.9 -14.3 -26.8 -178.1 40FA903090005Discrepancy -11.5 68.1 43.9 58.3 -16.6 39FA733093005Holdingcompanies 1.4 3.4 13.6 32.7 114.9 38FA663093005Brokersanddealers 19 20 1461.2 -8.4 167.0 103.8 -8.1 37FA643093005REITs -20.4 825.1 36FA613093005Financecompanies 234.2 24.7 7.0 33.7 35FA403093005Government-sponsoredenterprises 6.2 628.7 230.1 -65.8 10.7 34FA563093003Exchange-tradedfunds -310.1 12 172.9 10.0 33FA653093005Mutualfunds -30.8 -15.1 32FA633093005Moneymarketfunds 208.1 37.4 22.2 282.1 8 211.3 31FA223093005Stateandlocalgovt.retirementfunds 0.4 487.0 30FA573093005Privatepensionfunds 10 31.9 243.7 1.0 49.0 29FA543093005Lifeinsurancecompanies -1.0 409.7 -41.2 28FA513093005Property-casualtyinsurancecompanies -8.3 372.4 232.9 0.0 0.0 7 27FA473093005Creditunions 51.1 173.9 26FA743093005BanksinU.S.-affiliatedareas 3.2 -0.0 6 25FA753093005ForeignbankingofficesinU.S. -101.7 45.7 24FA763093005U.S.-chartereddepositoryinstitutions 93.9 -23.2 0.6 -0.1 23FA713093005Monetaryauthority 48.8 -19.8 27.7 3 22FA213093003Stateandlocalgovernments -0.3 -3.6 34.3 -105.6 21FA313093003Federalgovernment 100.4 -15.5 81.1 -0.9 2 1.4 87.9 -3.0 20FA113093005Nonfinancialnoncorporatebusiness -28.2 414.1 19FA103093005Nonfinancialcorporatebusiness 235.0 0.3 85.9 34.7 1070.9 -16.4 47.7 18FA893093005Netchangeinassets 630.1 65.5 6.9 -1.2 13.8 17FA503193005Otherfinancialbusiness -43.3 624.0 76.6 16FA733193005Holdingcompanies -11.0 894.0 29.1 15FA663193005Brokersanddealers 79.0 804.7 21.6 14FA643193005REITs 13FA613193005Financecompanies 90.9 868.5 12FA403193005Government-sponsoredenterprises -24.6 104.4 11FA543193005Lifeinsurancecompanies 399.5 201.4 10FA513193005Property-casualtyinsurancecompanies 9FA473193005Creditunions 8FA743193005BanksinU.S.-affiliatedareas 7FA753193005ForeignbankingofficesinU.S. 6FA763193005U.S.-chartereddepositoryinstitutions 5FA713193005Monetaryauthority 4FA313193005Federalgovernment 3FA113193003Nonfinancialnoncorporatebusiness 2FA103193005Nonfinancialcorporatebusiness 1FA893193005Netchangeinliabilities Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.234 UnidentifiedMiscellaneousFinancialClaims 0621 0821 2019 2019 2018 2017 2016 1733. 1228. 2. 53-. 2. 3. 33 -31.7 226.2 -0.2 -5.3 120.1 85.2 -112.2 38.0 -127.3 16 -293.8 -25.6 -46.8 74.6 -47.9 -11.4 -114.9 -261.4 -109.5 6. 034. 5. 3. 9. 1267. 0. 17 18 300.7 2939.5 890.4 75.7 1152.2 -142.6 464.0 -99.9 604.0 -37.6 777.7 -51.1 660.6 44.3 500.3 50.3 666.4 264.7 1 1269.9 1084.1 399.7 972.1 1064.7 880.1 713.8 -27.1 752.0 1. 1. 62-. 831. 55-035. 36 52.6 -40.3 25.5 32 13.0 11.6 106.3 -8.3 1.6 -2.9 128.9 26.2 -227.0 2.4 -16.7 -13.1 1.4 -0.7 -14.0 15 41.1 -152.9 -69.3 -2.6 29.0 -48.9 -47.2 30.9 -54.7 56-2. 32125406581-5. 9. 16. 40 -1669.6 37 193.6 29.3 34 -752.5 46.2 24.1 508.1 -5.1 -13.7 460.6 37.3 -62.4 102.5 53.2 1.5 -0.0 30 -21.6 -527.3 1.3 -12.6 49.5 29 85.6 425.6 24.8 8.4 80.4 -98.6 11.9 44.6 91.1 1.7 31.4 43.3 21 66.7 1.6 6.7 54.5 -21.0 11.7 2.1 9.5 62.6 5.7 74.4 41.1 31.0 6.7 -22.4 21.7 8.0 5.6 14 -5.2 13.7 11.2 9.4 28.2 11.2 -47.7 -20.8 -7.3 16.1 4.8 16.3 09-08-00-48-. 54-95-21-5139 -15.1 -42.1 -49.5 -5.4 -2.1 -24.8 -10.0 -10.8 -0.9 . 65-577. 4. 5. 08-8236538 326.5 -98.2 10.8 157.0 242.0 77.9 -35.7 27 47.1 -6.5 -6.5 7.2 23 14.3 11.6 0.0 5.5 22 70.7 15.0 -11.3 -58.6 4.2 5.7 12.1 -5.4 7.6 57.8 -1.7 0.8 51.3 -3.0 15.7 5.0 0.9 -7.3 13 86.4 0.1 -28.7 11 -17.2 0.7 515.7 9 -16.6 16.0 -67.1 46.6 -19.8 130.1 50.5 82.1 -16.6 5 4 4.6 15.8 2.8 -172.0 -12.7 218.1 -65.3 11.5 36.5 37.0 -90.1 -10.0 -46.9 1.2 -18.2 85.0 5.7 26.6 -0.2 -0.0 -211.1 24.4 0.5 3.4 1.0 3.9 1.1 1.3 1.6 -0.0 3.2 0.6 5.8 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 75 2020

Transactions Transactions 6 F67005 sur fastbce euiis00000000000000000016 0.0 0.0 0.0 15 10.5 0.0 10 50.7 6.7 0.0 8.1 2.3 12 0.0 -14.5 -184.0 1.3 9 -32.4 162.5 0.0 -46.0 21.3 2.3 3.0 110.9 0.0 20.5 86.1 2.5 -19.6 5 8 6 0.0 57.6 81.0 405.3 56.5 18.5 -62.8 2.1 -236.5 65.5 -85.4 127.7 -60.5 3.6 -208.0 -0.8 -267.4 24.9 18.4 -17.9 21FA267005005Restoftheworld 295.4 18.0 -0.1 -1.4 72.0 53.3 -151.1 20FA737005005Holdingcompanies 3 19FA667005005Brokersanddealers -506.2 -75.1 -0.1 58.2 38.6 -546.8 -42.8 -156.9 18FA647005005REITs -7.2 140.5 -21.5 -283.1 17.4 17FA617005005Financecompanies -342.4 16FA677005005Issuersofasset-backedsecurities -394.7 -202.3 -32.1 337.3 -35.4 -12.0 15FA407005005Government-sponsoredenterprises -35.9 1425.7 14FA657005005Mutualfunds 390.3 -148.3 13FA547005005Lifeinsurancecompanies 256.7 12FA517005005Property-casualtyinsurancecompanies -187.1 11FA477005005Creditunions -112.7 10FA747005005BanksinU.S.-affiliatedareas 9FA757005005ForeignbankingofficedinU.S. 8FA767005005U.S.-chartereddepositoryinstitutions 7FA717005005Monetaryauthority 6FA797005005Domesticfinancialsectors 5FA217005005Stateandlocalgovernments 4FA317005005Federalgovernment 3FA107005005Nonfinancialcorporatebusiness 2FA157005005Householdsector 1FA897005005Allsectors Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.7 SectorDiscrepancies 76 5 F16005 ot.frgv.sc nu. ..aflae ra ...... 15 5.6 14 52.1 5.5 98.9 8 5.4 149.5 0.0 102.5 5.4 0.0 42.1 5.4 98.2 0.0 5.4 10.8 0.0 -67.6 5.2 0.0 -112.0 5.0 0.0 5 -497.4 5.1 0.0 -333.3 -243.0 0.0 57.7 -494.0 0.0 15FA156600075Contr.forgovt.soc.insur.,U.S.affiliatedareas -253.2 14FA087005005Statisticaldiscrepancy(NIPA) -278.0 Nonfinancialcomponents(signreversed): -214.6 13FA906000105Nonfinancial -55.6 12FA903090005Miscellaneous 11FA903078005Taxespayable 10FA903070005Tradecredit 9FA903029200Privatedomestic 8FA903028003Stateandlocalgovernments 7FA903023005Federalgovernment 6FA903020005Mailfloats 5FA902050005Securityrepurchaseagreements 4FA904010005Netinterbanktransactions 3FA903091005Foreigndeposits 2FA903012005Treasurycurrency 1FA907005005Alltypes Billions ofdollars;quarterlyfiguresareseasonallyadjustedannualrates F.8 InstrumentDiscrepancies

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 7. 4. 211-9. 13. 2. 142-3. 13. 2 -1637.8 -137.7 -104.2 -23.7 -1732.6 -499.5 -201.1 -45.4 372.7 0. 19-59-0. 4. 179-5. 143-7713 -57.7 -104.3 -154.9 -107.9 -47.5 -103.6 -15.9 61.9 106.9 3. 1. 3. 87-778969165-. 18 -3.1 17 39.1 116.5 6.9 -13.5 16.4 14 8.9 -75.0 -37.5 -40.0 -57.7 -25.5 -37.0 18.7 -15.0 -42.0 -39.3 -18.8 -40.0 -12.2 -2.7 -39.8 -34.0 -11.0 -41.5 -67.1 -66.2 4 680.1 -443.7 -398.1 -230.1 763.9 -77.0 -37.1 -57.3 -40.1 2. 753. 0. 054. 0. 7815711 105.7 87.8 202.1 42.7 70.5 100.8 3 39.6 212.3 47.5 26.9 -29.3 153.4 -119.1 26.6 22.0 144.0 122.2 -73.6 941. 5. 235. 183. 295. 19 21 56.6 -19.2 286.0 22.9 604.5 34.8 -324.1 51.8 444.0 59.8 252.6 183.0 42.3 133.7 -58.3 35.5 17.4 59.4 1 -1386.4 -112.6 -482.7 -150.5 453.0 -73.2 -113.7 -586.7 71.8 56-2. 32125406581-5. 9. 16. 12 -1669.6 10 202.3 193.6 120.4 -752.5 508.1 196.5 460.6 -57.7 102.5 19.4 53.2 69.6 -527.3 -40.7 85.6 -72.8 35.7 1 -1386.4 -112.6 -482.7 -150.5 453.0 -73.2 -113.7 -586.7 71.8 01-. . 17-. 20-. 19-. 7 -1.9 -1.9 -0.9 -2.0 -2.0 -1.7 0.4 -3.0 -0.1 02-. 050520-. . 15197 1.9 -1.5 3.0 2 -1.5 -0.6 2.0 -0.3 0.5 -0.3 -0.5 -0.3 -0.4 -0.4 -0.2 -0.3 -0.4 -0.8 -1.0 . 135-21-6. 196-3. 108-6. 7920 17.9 -169.7 -170.8 -137.3 11 -0.4 -199.6 13 -169.3 -169.4 -4.5 127.9 -92.1 -30.2 4.6 -103.5 -69.3 0.2 4.5 -55.0 -2.2 -6.7 0.6 -41.4 1.4 0.2 7.2 3.2 0.6 . . 02-. 000720-. 069 -0.6 6 -4.8 1.3 2.0 -6.3 0.7 5.0 -0.0 4 -0.8 317.3 -0.5 -97.1 2.0 -0.2 110.8 -0.0 -473.2 0.3 415.7 -0.6 0.6 -10.9 -0.1 -14.9 0.4 -2.5 2.6 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

6 F33905 iclaeu iblte 56. 43. 58. 62. 61. 68. 62. 62. 70. 46 17706.6 45 16729.5 6326.4 16622.8 16484.8 8016.1 16312.3 7503.0 16729.5 15787.1 7447.5 14934.8 7153.6 39 15262.8 2718.9 8016.1 2607.1 34 6330.5 21.2 2565.0 6581.1 38 2726.8 3328.7 21.2 5512.9 36 2681.2 2877.6 5957.7 2607.1 21.5 2855.9 5787.2 2423.0 2869.1 5803.6 22.0 2252.1 2831.6 5709.2 1750.0 2877.6 5630.9 22.2 2819.2 5787.2 2607.0 21.2 5539.5 46FL383190005Miscellaneousliabilities 2517.9 5384.7 22.9 45LM143192005ForeigndirectinvestmentinU.S. 5103.6 44FL143178005Taxespayable 24.4 43FL313140003Lifeinsurancereserves 24.5 42FL383170005Tradepayables 25 5015.8 41FL153166000Consumercredit 6539.1 40FL383165005Mortgages 6101.5 39FL383169005Otherloansandadvances 6219.4 38FL383168005Depositoryinstitutionloansn.e.c. 37FL384123005Loans 24 6004.8 12472.4 6539.1 12343.1 36FL103163003Corporateandforeignbonds 12302.3 5503.4 35FL383162005Municipalsecurities 12089.8 6684.0 34FL313161705Agency-andGSE-backedsecurities 11800.9 15 12343.1 33FL313161105Treasurysecurities 5467.9 1167.3 11596.0 32FL103169100Openmarketpaper 11109.2 1025.7 31FL384122005Debtsecurities 10228.8 1031.9 30FL313112003Treasurycurrency 990.6 29FL713014003SDRcertificates 13 982.7 28LM313111303U.S.officialreserveassets 1208.3 1189.7 1025.7 27FL384190005Totalliabilities 1174.5 985.6 7 11 1333.5 1157.0 26FL383090005Miscellaneousassets 172.0 986.8 1226.6 1079.4 158.6 25LM103092005U.S.directinvestmentabroad 6 1037.7 1177.5 1189.7 24LM152090205Equityinnoncorporatebusiness 3479.5 155.4 1135.0 1126.5 23FL383078005Taxespayable 2900.4 1090.8 1205.5 153.7 2737.3 22FL153050005Pensionentitlements 4 1226.6 1255.4 5 157.1 2537.7 21FL153040005Lifeinsurancereserves 3895.4 1104.8 12453.8 20FL383070005Tradereceivables 2429.7 158.6 3377.7 956.0 11925.3 2900.4 11723.0 3243.2 19LM383064205Mutualfundshares 159.2 865.9 11547.7 2392.7 3051.6 18LM383064105Corporateequities 11498.3 196.3 2239.0 11925.3 3145.6 11296.6 17FL383066005Consumercredit 2134.6 245.2 3377.7 10812.6 16FL383065005Mortgages 10559.1 3246.9 15FL383069005Otherloansandadvances 2925.2 14FL384023005Loans 2911.7 13FL383063005Corporateandforeignbonds 12FL383062005Municipalsecurities 11FL383061705Agency-andGSE-backedsecurities 10FL383061105Treasurysecurities 9FL383069105Openmarketpaper 8FL384022005Debtsecurities 7FL382051005Securityrepurchaseagreements 6FL383034005Moneymarketfundshares 5FL383030005Timeandsavingsdeposits 4FL383020005Checkabledepositsandcurrency 3FL383091005Foreigndeposits 2FL313011005U.S.officialreserveassets 1FL384090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.100 DomesticNonfinancialSectors(1) (1) SumofdomesticnonfinancialsectorsshownontablesL.101throughL.107. 0579134. 1551175. 1964117. 2420175. 28581 120815.8 127058.4 123472.0 121776.9 119936.4 127058.4 114505.1 113245.6 104547.9 49. 45. 59. 57. 59. 53. 53. 57. 51. 40 15917.0 15778.4 15639.3 37 15439.3 26110.9 15296.6 25444.1 15778.4 25177.6 15198.0 25076.1 14650.9 24798.0 14095.5 25444.1 33 24438.4 19518.4 23322.9 19018.7 31 21984.1 18571.7 29605.6 17814.3 28880.7 17906.3 28431.3 19018.7 27603.0 17842.1 27636.3 16430.9 28880.7 15983.8 27439.4 27 25942.7 85606.9 25174.0 84943.7 83555.5 82346.6 81588.9 84943.7 79643.1 75919.0 72685.9 22 26646.4 27870.6 27278.6 27099.1 26714.2 27870.6 18 25846.0 17783.8 25866.4 23104.8 24301.8 21650.0 21563.3 21154.5 23104.8 18612.4 20244.1 17114.9 0621 0821 2019 2019 2018 2017 2016 44249. 16454. 15351. 26454. 32642 5302.6 41 5340.5 4146.4 5286.4 4180.9 5212.3 4117.4 5135.3 4040.9 5340.5 3988.6 5106.4 4180.9 35 4591.2 3864.2 3998.3 4424.2 3858.3 3813.0 3817.9 3620.8 3820.9 3835.8 3858.3 3838.4 3896.0 3881.3 26 12756.1 10707.9 10723.4 10493.0 10655.2 21 1709.0 10707.9 20 10651.7 5048.1 1731.3 8336.6 5091.4 1718.8 8742.1 19 5110.1 1702.5 8418.0 5090.0 1689.0 10217.5 17 9626.3 5001.1 1416.3 1731.3 9543.8 5091.4 1386.8 1659.1 14 9181.6 4942.2 1378.3 1626.6 3090.3 10217.5 4439.2 1346.3 1568.1 2913.0 8308.7 4210.6 1338.5 12 2910.6 9038.4 1905.5 1386.8 2833.3 7634.1 10 1934.8 1307.3 2825.4 2333.8 1932.9 1220.2 8 2913.0 2732.2 1940.6 1129.5 7105.0 2797.7 2811.4 1935.1 7399.0 2734.4 2777.3 1934.8 7406.8 2691.0 2710.6 1900.8 7270.7 2732.2 1929.4 7043.9 2520.0 1919.7 7399.0 2004.3 6882.8 1940.7 6293.2 6187.7 9. 1. 1. 0. 2. 9. 0. 0. 2. 44 424.1 401.3 403.7 391.5 422.0 401.3 410.4 414.4 198.7 32 244.1 195.3 216.6 236.6 241.1 195.3 196.5 206.7 23 545.9 180.8 527.0 548.8 327.5 394.9 527.0 16 369.8 506.8 353.8 500.5 339.7 500.4 496.4 504.2 9 323.9 500.5 315.7 504.8 310.5 527.4 260.9 523.7 228.0 3 127.8 315.7 153.8 230.7 139.6 198.1 157.4 206.0 146.7 153.8 146.0 255.4 123.9 135. 135. 185. 215. 2043 52.0 52.2 52.1 51.7 51.8 52.2 51.3 51.1 30 51.3 25.3 28 48.2 25.3 48.8 25.3 48.1 25.3 49.1 25.3 49.0 25.3 48.8 25.3 49.1 25.3 50.3 25.3 47.5 2 96.4 97.8 96.2 96.4 93.6 97.8 93.9 91.0 86.8 ...... 29 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 77 2020

Levels Levels 3 F53703 eerdadupi ieisrnepeim 133. 503. 643. 663. 9033 39.0 30 506.7 36.5 492.4 36.6 476.1 29 35.7 385.9 472.5 346.3 453.7 36.4 333.9 492.4 25 36.5 210.2 337.0 463.3 35.0 213.1 323.4 488.2 214.2 33.1 346.3 427.2 214.6 337.7 31.3 27 215.3 299.1 10659.1 10600.1 213.1 291.3 10534.6 10436.7 216.4 22 14 10350.6 20 12472.4 27.0 10600.1 21 6943.8 19 218.6 12343.1 10320.1 19702.7 26646.4 12302.3 5762.3 10052.4 22108.3 27.8 27870.6 33FL543077073Deferredandunpaidlifeinsurancepremiums 217.0 12089.8 9763.7 21158.5 27278.6 6120.1 32FL163170005Tradepayables 11800.9 20926.3 27099.1 12343.1 12 28.5 6172.8 20501.4 26714.2 952.2 11596.0 31FL163165505Commercialmortgages 22108.3 27870.6 6212.8 11109.2 19310.1 30FL153169005Otherloansandadvances 25846.0 29.3 805.9 10228.8 5762.3 19878.6 25866.4 29FL153168005Depositoryinstitutionloansn.e.c.(6) 17804.0 24301.8 6535.9 813.4 28FL153166000Consumercredit 30.4 10 27FL153165105One-to-four-familyresidentialmortgages(5) 5987.8 779.4 1020.0 26FL154123005Loans 27.8 6497.7 1003.4 8 773.6 25FL163162003Debtsecurities(municipalsecurities) 837.3 990.1 31.4 805.9 754.9 975.1 24FL154190005Totalliabilities 35.2 782.2 5 710.5 895.4 23FL153090005Miscellaneousassets 2647.7 786.2 41.3 22LM152090205Equityinnoncorporatebusiness 672.5 1003.4 4 2207.4 839.9 943.0 10528.9 2076.0 3 621.0 21FL153050025Fundedpensionentitlements 10150.2 1339.0 1915.4 1006.6 9995.0 20FL593073005Claimsofpensionfundonsponsor 754.9 19FL153050005Pensionentitlements(4) 1211.6 1828.4 1058.9 9824.3 636.9 18FL153040005Lifeinsurancereserves 986.0 2207.4 9792.8 17FL163070005Tradereceivables 1799.0 449.5 10150.2 1135.9 9623.8 1617.9 16LM153064205Mutualfundshares 1276.2 390.1 9233.8 15LM153064105Corporateequities(3) 1558.4 1211.6 9078.2 1191.7 14FL163066223Consumercredit(studentloans) 1295.0 13FL153065005Mortgages 12FL153069005Otherloansandadvances(2) 1117.6 11FL154023005Loans 10LM153063005Corporateandforeignbonds 9LM153062005Municipalsecurities 8LM153061705Agency-andGSE-backedsecurities 7LM153061105Treasurysecurities 6LM154022005Debtsecurities 5FL153034005Moneymarketfundshares 4FL153030005Timeandsavingsdeposits 3FL153020005Checkabledepositsandcurrency 2LM153091003Foreigndeposits 1FL154090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.101 HouseholdsandNonprofitOrganizations(1) 78 (6) IncludesloansextendedbytheFederalReservetofinancialinstitutionssuchasdomestichedgefundsthroughTermAsset-BackedSecuritiesLoanFacility(TALF). (5) Includesloansmadeunderhomeequitylinesofcreditandsecuredbyjuniorliens(tableL.218,line23). (4) Includespublicandprivatedefinedbenefitcontributionpensionplansannuities,includingthoseinIRAsatlifeinsurancecompanies.Excludessocialsecurity. (3) Directlyheldcorporateequities,includingclosed-endfund,exchange-tradedandrealestateinvestmenttrustshares. (2) Includescashaccountsatbrokersanddealerssyndicatedloanstononfinancialcorporatebusinessbynonprofitsdomestichedgefunds. (1) Sectorincludesdomestichedgefunds,privateequityandpersonaltrusts.SupplementarybalancesheettableB.101.nshowsestimatesofannualyear-endoutstandingsnonprofitorganization s.

Z.1, June11,2020 45. 41. 59. 50. 59. 57. 54. 50. 59. 26 15990.3 15909.0 15748.2 15570.1 24 15396.3 16633.8 15909.0 16549.4 15396.3 16386.6 14917.4 16204.8 14355.9 16029.2 16549.4 16025.5 15533.5 14953.6 15 15786.8 20607.7 19341.8 19276.1 18944.6 20607.7 16650.4 18111.1 15239.6 1 86995.0 93942.4 90981.8 90142.4 88556.6 93942.4 83890.3 84377.8 77203.3 0621 0821 2019 2019 2018 2017 2016 60831. 98348. 98644. 17448. 16428 4146.4 4180.9 4117.4 4040.9 3988.6 4180.9 23 3998.3 1292.0 3813.0 1286.7 3620.8 1257.1 1253.7 1245.7 18 1709.0 1286.7 1731.3 1245.1 16 1718.8 1193.0 8064.6 1702.5 1138.8 9798.7 1689.0 9229.8 1731.3 9149.4 1659.1 8799.6 1626.6 9798.7 1568.1 7961.9 9 8654.8 1864.3 7 7306.5 1893.5 6 1462.7 1892.1 5184.3 1896.0 1900.2 5547.8 2006.2 1894.8 5598.9 1982.4 1893.5 5530.1 1889.4 1861.0 5300.5 1896.0 1890.2 5547.8 1699.7 1879.5 5140.6 1131.5 4477.7 1093.8 4422.3 4. 6. 7. 9. 8. 8. 8. 9. 9. 32 394.2 31 390.9 292.4 387.6 289.3 384.3 286.2 381.1 283.1 390.9 280.0 377.8 289.3 364.4 276.9 349.5 264.6 252.9 17 260.7 259.5 258.3 257.1 255.9 11 259.5 1033.1 890.8 254.7 901.8 250.5 871.5 244.2 869.8 890.8 882.3 903.0 972.9 178. 875. 586. 995. 3913 53.9 57.1 59.9 62.8 65.8 57.1 2 68.7 30.0 81.6 37.1 91.7 37.4 37.6 39.0 37.1 39.7 38.9 26.3 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

1 L13905 Frindrc neteti ..51. 51163. 06175. 47570. 06162. 31 6326.4 8016.1 7503.0 27 7447.5 2175.3 7153.6 2077.8 8016.1 2045.0 26 6330.5 2017.8 2942.8 6581.1 1992.5 2531.3 5512.9 2077.8 2522.0 1940.4 2532.1 1594.0 2508.2 1304.9 2531.3 2481.5 18 2307.8 5015.8 2226.6 6539.1 6101.5 32FL143190005Miscellaneousliabilities 6219.4 31LM143192005ForeigndirectinvestmentinU.S. 6004.8 10 30FL143178005Taxespayable 22.1 6539.1 29FL143170005Tradepayables 5503.4 6 15.1 6684.0 28FL143165005Mortgages 23.6 27FL143169005Otherloansandadvances 5467.9 15.3 26FL143168005Depositoryinstitutionloansn.e.c. 5 11.8 25FL144123005Loans 807.9 16.7 10.2 24FL103163003Corporatebonds 673.0 19.0 23FL103162000Municipalsecurities 10.3 641.5 4 22FL103169100Commercialpaper 15.1 21FL104122005Debtsecurities 1492.6 603.1 12.1 1349.7 18.1 20FL144190005Totalliabilities 582.1 3 1315.2 11.8 1895.2 673.0 23.8 1315.2 19FL143090005Miscellaneousassets 1619.8 14.6 18LM103092005U.S.directinvestmentabroad 1298.3 573.9 1742.5 13.7 1349.7 39.6 1519.7 599.3 17FL143070005Tradereceivables 1267.3 16LM103064203Mutualfundshares 1400.2 554.6 1181.4 90.3 15LM103064103Corporateequities 1619.8 1098.0 1516.3 14FL143066005Consumercredit 1257.7 13FL143065005Mortgages 12FL144023005Loans 1247.1 11LM143062005Municipalsecurities 10LM103061703Agency-andGSE-backedsecurities 9LM143061105Treasurysecurities 8FL103069100Commercialpaper 7LM144022005Debtsecurities 6FL102051003Securityrepurchaseagreements 5FL143034005Moneymarketfundshares 4FL143030005Timeandsavingsdeposits 3FL143020005Checkabledepositsandcurrency 2FL103091003Foreigndeposits 1FL144090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.102 NonfinancialBusiness(1) (1) Combinedstatementfornonfinancialcorporatebusinessandnoncorporatebusiness. 17. 37. 40. 85. 67. 70. 78. 85. 78. 20 37885.5 38654.7 37688.1 37209.0 36575.6 38654.7 34804.4 33275.6 31073.3 1 27639.0 27104.5 26558.4 26126.3 25739.8 27104.5 25011.8 23452.5 21926.1 0621 0821 2019 2019 2018 2017 2016 07982. 30616431085119913391643181632 10811.6 29 10664.3 3458.1 10323.9 10159.9 28 3515.4 10028.5 4965.5 3482.3 10664.3 4889.0 9380.6 3426.0 4818.5 8921.4 25 3367.3 10083.6 4719.5 9037.9 3515.4 24 9498.2 4666.0 5957.7 3361.5 9385.5 4889.0 5787.2 2964.8 9269.4 21 4600.9 5803.6 2875.5 9166.8 6781.6 4333.8 5709.2 9498.2 6559.5 4078.9 5630.9 9022.8 6589.7 5787.2 8235.6 19 6514.8 5539.5 11146.7 7610.5 6437.4 9123.2 5384.7 6559.5 17 9154.2 5103.6 4471.4 6298.6 8931.6 4511.9 15 6158.3 9119.3 1828.5 4531.7 5837.8 9123.2 2290.8 4516.2 9131.1 2114.7 4433.7 6875.9 2093.9 4511.9 7317.7 2021.3 4376.8 2290.8 3916.1 1791.2 3700.2 1948.3 1711.5 9. 1. 1. 0. 2. 9. 0. 0. 2. 30 424.1 401.3 403.7 391.5 422.0 23 401.3 579.8 22 410.4 244.1 577.0 414.4 195.3 569.4 198.7 216.6 569.0 236.6 565.4 241.1 577.0 16 195.3 562.6 276.2 196.5 566.9 327.3 206.7 553.4 309.8 180.8 12 308.2 133.2 298.4 128.9 9 327.3 128.1 8 146.8 7 270.9 126.7 255.0 124.8 450.0 303.0 125.5 246.0 123.9 412.3 258.1 128.9 241.6 126.8 406.8 125.6 192.9 132.7 362.2 119.6 159.2 124.8 336.4 108.3 246.0 128.9 412.3 162.1 140.3 334.3 123.7 104.2 311.1 132.5 274.8 893. 963. 853. 893. 8514 38.5 13 94.7 39.6 89.3 11 26.1 38.9 89.2 26.3 38.7 88.0 26.0 38.5 87.1 25.8 39.6 89.3 25.5 39.6 86.0 26.3 39.4 80.2 2 25.1 38.9 97.8 69.4 23.3 116.7 24.4 102.2 119.8 107.7 116.7 106.3 216.6 97.6 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 79 2020

Levels Levels 4 F14406 Sottr etttldb pret 6 68 83 08 09 12 11 08 09 34 44 33.45 30.94 43 42 30.82 77.31 6494.1 6087.2 31.13 83.79 6063.9 31.21 81.98 6015.4 40 30.94 77.95 5972.7 26587.6 38 33623.0 401.3 6087.2 30.83 74.26 31393.2 37 5868.2 31302.9 48.7 150.1 28.38 83.79 30511.8 5160.0 33623.0 142.1 26.87 156.4 72.92 4603.8 26666.3 28902.1 140.0 181.0 84.80 24702.4 35 137.1 262.5 86.56 6289.8 135.0 48.7 7978.6 7469.1 142.1 465.3 7414.3 131.5 31 294.6 7121.6 1946.0 44FL104140006Short-termdebt/totaldebt(percent)(6) 30 119.3 7978.6 1854.1 1337.9 582.3 6302.2 1826.8 43FL104001006Liquidassets/short-termliabilities(percent) 1011.5 100.1 42FL104150005Totalshort-termliabilities(5) 6552.9 1799.4 1005.6 41FL104001005Totalliquidassets(4) 5493.4 1775.8 1009.4 1854.1 1000.0 40LM103164103Marketvalueofequities 1725.8 1011.5 Memo: 1387.6 988.8 1102.1 918.8 39FL103193005Other 22 38FL573073005Claimsofpensionfundonsponsor 111.3 966.4 37FL573074005Pensionfundcontributionspayable 112.5 36FL103190005Miscellaneousliabilities 112.1 35LM103192005ForeigndirectinvestmentinU.S. 112.7 18 34FL103178005Taxespayable 5015.8 114.7 33FL103170005Tradepayables 6539.1 112.5 6101.5 32FL103165005Mortgages 31FL103169005Otherloansandadvances(3) 113.2 6219.4 10 30FL103168005Depositoryinstitutionloansn.e.c. 22.1 6004.8 110.7 29FL104123005Loans 6539.1 6 98.2 15.1 5503.4 28FL103163003Corporatebonds(1) 23.6 27FL103162000Municipalsecurities(2) 6684.0 15.3 26FL103169100Commercialpaper 5 5467.9 11.8 25FL104122005Debtsecurities 4 666.4 16.7 275.2 10.2 24FL104190005Totalliabilities 558.3 19.0 199.9 10.3 528.7 23FL103093005Other 15.1 184.8 22FL103094105Investmentinfinancecompanyaffiliates 492.2 12.1 21FL103092405EquityinGSEs 3 203.8 18.1 20FL103076005Insurancereceivables 472.6 1490.4 11.8 201.2 19FL103090005Miscellaneousassets 1269.6 558.3 23.8 199.9 14.6 1398.8 18LM103092005U.S.directinvestmentabroad(1) 466.1 13.7 1182.3 187.2 39.6 499.5 17FL103070005Tradereceivables 1067.8 181.3 16LM103064203Mutualfundshares 1269.6 463.9 90.3 15LM103064103Corporateequities 189.0 1189.7 14FL103066005Consumercredit 951.7 13FL103065003Mortgages 967.9 12FL104023005Loans 11LM103062003Municipalsecurities 10LM103061703Agency-andGSE-backedsecurities 9LM103061103Treasurysecurities 8FL103069100Commercialpaper 7LM104022005Debtsecurities 6FL102051003Securityrepurchaseagreements 5FL103034000Moneymarketfundshares 4FL103030003Timeandsavingsdeposits 3FL103020000Checkabledepositsandcurrency 2FL103091003Foreigndeposits 1FL104090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.103 NonfinancialCorporateBusiness 80 (6) Short-termdebtisthesumoflines26,30,and31.Total2529. (5) Sumoflines26,30,31,33,and34.Includesloansdueinmorethanoneyearexcludescurrent maturitiesofbondsandmortgages. (4) Sumoflines2through7and1516. (3) Loansfromrestoftheworld,U.S.government,andnonbankfinancialinstitutions.Detailcan befoundontableL.216. (2) Industrialrevenuebonds.Issuedbystateandlocalgovernmentstofinanceprivateinvestment andsecuredininterestprincipalbytheindustrialuseroffunds. (1) Through1992:Q4,corporatebondsincludenetissuesbyNetherlandsAntilleanfinancialsubsidiaries, andU.S.directinvestmentabroadexcludesnetinflowsfromthosebondissues.

Z.1, June11,2020 39. 50. 62. 92. 79. 83. 88. 92. 85. 24 28754.3 29725.4 28886.7 28534.9 27997.8 29725.4 26326.6 25309.1 23694.2 1 21167.0 20838.9 20400.0 20072.5 19766.6 20838.9 19132.2 17998.3 17085.6 0621 0821 2019 2019 2018 2017 2016 95047. 29150. 45248. 91150. 00641 5020.6 5100.4 4971.1 4689.2 4435.2 39 8399.3 5100.4 8637.7 4279.1 36 8213.6 4375.9 8950.8 8049.4 3985.0 8828.5 7855.0 8510.1 8637.7 8367.5 33 7027.1 8252.5 2693.0 6841.7 8828.5 2774.4 6794.0 7623.8 2758.9 7255.5 2724.7 29 7476.4 2678.9 3765.9 2774.4 28 3332.5 5957.7 2690.4 3303.1 5787.2 2369.7 3268.3 25 5803.6 2288.3 3230.6 6781.6 5709.2 3332.5 6559.5 5630.9 3145.0 6589.7 5787.2 23 2695.4 6514.8 7011.9 5539.5 2532.2 6437.4 5030.6 5384.7 6559.5 5129.6 5103.6 19 6298.6 4968.8 7519.2 6158.3 5205.9 5536.8 5837.8 5030.6 5629.2 17 5274.7 5466.7 3534.2 3276.0 5700.6 3588.9 15 4160.9 1828.5 5536.8 3624.2 2290.8 5766.2 3623.8 2114.7 3753.5 3553.0 2093.9 4611.7 3588.9 2021.3 3509.6 2290.8 3113.2 1791.2 2952.3 1948.3 1711.5 6. 8. 3. 6. 5. 5. 7. 6. 8. 32 482.1 466.9 470.6 459.4 27 579.8 26 454.7 244.1 577.0 466.9 195.3 569.4 430.3 216.6 569.0 389.0 236.6 565.4 463.7 241.1 20 577.0 394.6 195.3 562.6 392.3 196.5 566.9 386.2 206.7 553.4 383.9 180.8 16 276.2 378.7 327.3 392.3 309.8 377.1 308.2 365.6 298.4 351.7 327.3 8 7 270.9 255.0 362.4 303.0 246.0 326.0 258.1 241.6 322.0 192.9 278.8 159.2 254.1 246.0 326.0 162.1 253.2 123.7 236.0 132.5 206.7 6127226721926925325921923334 273.3 251.9 255.9 245.3 276.9 251.9 266.7 277.2 66.1 14 38.5 13 38.7 12 77.2 39.6 34.2 11 19.0 73.8 38.9 9 35.0 66.3 19.3 73.9 38.7 34.7 45.4 19.2 73.4 38.5 34.5 45.9 19.1 72.9 39.6 34.2 50.1 18.9 73.8 39.6 34.2 57.0 19.3 73.8 39.4 32.2 2 45.4 18.5 71.6 38.9 97.8 29.8 54.4 17.2 68.8 116.7 71.3 19.3 102.2 119.8 41.2 107.7 116.7 106.3 216.6 97.6 ...... 21 1.4 1.3 1.3 1.3 1.3 1.3 1.2 1.2 0.9 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

3 L15105 Frindrc neteti ..1. 822. 753. 323. 753. 23 36.6 37.5 33.9 33.2 19 229.4 32.1 223.7 37.5 218.2 14 12.6 28.3 218.3 12.7 216.7 18 28.2 1605.0 223.7 12.7 1519.9 19.5 214.5 1516.3 12.6 1522.7 206.4 1508.2 12.4 202.8 1519.9 12.7 1492.6 1389.0 12.5 1260.2 (1) EquityintheFarmCreditSystem. 12.3 24FL113193003Miscellaneousliabilities 23LM115114005ForeigndirectinvestmentinU.S. 9.8 22FL113178003Taxespayable 2 3 21FL113170005Tradepayables 404.8 1217.4 1149.7 20FL113165005Mortgages 350.2 19FL113169005Otherloansandadvances 1130.4 343.8 18FL113168005Depositoryinstitutionloansn.e.c. 1111.5 17FL114123005Loans 337.4 1097.0 1149.7 16FL114190005Totalliabilities 332.4 1080.2 350.2 15FL113093005Other 1000.1 14FL113092405EquityinvestmentinGSEs(1) 326.7 909.0 13FL113076005Insurancereceivables 12FL113090005Miscellaneousassets 306.0 11FL113070003Tradereceivables 279.3 10FL113066003Consumercredit 9FL113065005Mortgages 8FL114023005Loans 7LM113062003Municipalsecurities 6LM113061003Treasurysecurities 5LM114022005Debtsecurities 4FL113034003Moneymarketfundshares 3FL113030003Timeandsavingsdeposits 2FL113020005Checkabledepositsandcurrency 1FL114090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.104 NonfinancialNoncorporateBusiness 0621 0821 2019 2019 2018 2017 2016 51516. 76813. 76019. 83813. 80924 1860.9 1835.8 1813.8 1792.3 1776.0 20 4483.4 1835.8 4422.1 1756.8 17 4347.9 1665.9 6317.7 4260.1 1561.5 16 6165.7 4211.3 9131.2 6082.4 4422.1 8929.4 15 6001.1 3486.6 4170.6 8801.4 5936.2 3444.8 3944.8 8674.2 6165.7 12 3386.3 3615.2 8577.7 3627.5 5877.8 3328.7 8929.4 3586.4 5540.2 3285.5 8477.8 3525.0 5078.3 3444.8 7966.5 3464.9 3233.5 7379.1 3418.7 2989.8 3586.4 2580.0 3364.9 3122.4 2706.1 1 6472.0 6265.5 6158.4 6053.8 5973.2 6265.5 5879.6 5454.3 4840.5 3. 3. 4. 4. 4. 4. 4. 4. 5. 22 150.9 21 765.2 149.4 741.0 147.8 723.5 146.3 701.3 145.1 688.4 149.4 741.0 143.7 671.2 13 137.2 128.4 595.1 132.5 11 128.9 937.3 587.2 126.0 923.0 123.6 907.5 120.7 892.3 128.9 880.8 118.9 923.0 120.3 867.2 116.3 802.9 747.9 954. 185. 265. 425. 609 8 56.0 56.0 55.1 6 55.1 5 80.6 54.2 87.6 54.2 79.3 53.3 86.3 53.3 78.0 52.6 4 84.8 52.6 141.5 76.7 55.1 83.4 55.1 114.7 75.7 51.8 112.8 82.3 51.8 79.3 48.0 110.9 86.3 48.0 74.5 109.5 39.5 81.1 39.5 114.7 69.0 75.1 107.8 63.0 99.8 68.1 90.7 ...... 10 0.0 0.0 7 7.0 0.0 6.9 0.0 6.8 0.0 6.7 0.0 6.6 0.0 6.9 0.0 6.5 0.0 6.0 5.1 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 81 2020

Levels Levels 1 F33643 utfml eieta otae ...... 31 0.0 0.0 36 5421.2 37 30327.0 5263.9 0.0 28992.0 28763.8 5214.8 28230.2 4805.8 0.0 28261.2 28992.0 4917.1 28087.8 5263.9 0.0 26343.1 25882.7 4877.6 4648.5 0.0 4642.1 0.0 0.0 0.0 37FL374190005Totalliabilities(consolidated)(2) 36FL374090005Totalfinancialassets(consolidated)(2) Memo: 16 215.1 35FL363190005Miscellaneousliabilities 34FL313140003Insurancereserves 219.7 33FL363170005Tradepayables 218.5 32FL363169005Otherloansandadvances 211.2 12 31FL313165403Multifamilyresidentialmortgages 188.3 30FL364123005Loans 209.1 186.3 219.7 29FL213162005Municipalsecurities 184.3 28FL313161705Budgetagencysecurities 10 203.4 474.1 27FL313161105Treasurysecurities 181.9 26FL364122005Debtsecurities 200.6 456.6 6 184.0 4 197.8 25FL313112003Treasurycurrency 148.4 451.7 432.3 186.3 24FL713014003SDRcertificates 146.8 445.8 425.4 23LM313111303SDRallocations 3 183.5 145.3 661.2 450.9 412.8 22FL364190005Totalliabilities 198.8 143.4 546.3 456.6 408.2 196.5 21FL363090005Miscellaneousassets 145.0 514.6 449.7 407.2 20FL363078005Taxesreceivable 19FL363070005Tradereceivables 146.8 396.0 482.8 425.4 18LM213064203Mutualfundshares 144.7 469.2 462.1 405.4 17LM363064105Corporateequities 156.7 546.3 397.4 16FL313069005Otherloansandadvances 154.9 538.8 382.9 15FL313066220Consumercredit 14FL363065005Mortgages 372.5 13FL364023005Loans 547.1 12FL363063005Corporateandforeignbonds 11FL213062003Municipalsecurities 10FL363061705Agency-andGSE-backedsecurities 9FL213061105Treasurysecurities 8FL213069103Openmarketpaper 7FL364022005Debtsecurities 6FL212051003Securityrepurchaseagreements 5FL213034003Moneymarketfundshares 4FL363030005Timeandsavingsdeposits 3FL363020005Checkabledepositsandcurrency 2FL313011005U.S.officialreserveassets 1FL364090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.105 GeneralGovernment(1) 82 (2) ExcludesTreasurysecuritiesandmunicipalheldbystatelocalgovernments(lines911)federalgovernmentloansto(line32). (1) Sumofthefederalgovernmentandstatelocalgovernmentssectors.

Z.1, June11,2020 58. 63. 74. 91. 70. 71. 87. 91. 91. 27 19518.4 26 19018.7 22613.8 18571.7 22108.1 17814.3 21627.5 17906.3 20873.7 19018.7 20983.5 17842.1 22108.1 16430.9 20924.5 22 15983.8 19565.7 31087.6 19119.2 29739.6 29480.8 28932.7 28984.1 29739.6 28813.2 27109.9 26659.0 0621 0821 2019 2019 2018 2017 2016 13558. 31462. 27468. 22262. 85935 6855.9 33 6028.7 1450.3 6262.2 1434.2 6289.2 1416.5 6247.4 1402.0 6028.7 1387.0 29 6371.4 3074.2 1434.2 5980.3 3068.2 1367.0 6193.5 3034.3 1262.0 3037.4 1199.2 3055.0 3068.2 3059.4 3110.5 3110.9 15 1350.9 13 1319.4 1924.1 1311.0 1893.2 1278.3 1880.8 1269.6 1835.2 1319.4 1830.0 1236.3 7 1893.2 1145.6 1470.6 1789.8 1049.3 1439.0 1711.8 1401.1 1609.8 1378.5 1406.9 1439.0 1 1407.9 6181.8 1504.4 6011.5 1490.6 5931.8 5508.3 5639.9 6011.5 5603.0 5415.3 5418.5 8. 6. 7. 9. 9. 0. 1. 9. 1. 21 317.4 20 545.9 19 298.0 315.9 527.0 312.1 320.0 17 548.8 307.7 168.5 320.1 327.5 290.2 206.3 316.7 394.9 14 298.0 193.5 311.5 358.1 527.0 275.4 193.3 320.0 354.1 369.8 267.7 188.6 310.7 351.3 353.8 285.6 206.3 272.6 9 345.6 339.7 170.9 724.3 266.2 351.4 184.7 711.5 354.1 163.8 681.4 350.1 668.1 365.7 688.5 362.7 711.5 691.3 732.5 742.7 135. 135. 185. 215. 2034 52.0 52.2 32 52.1 36.9 30 51.7 36.9 36.9 28 21.2 51.8 36.9 43.9 21.2 52.2 43.9 236.6 25 25.3 234.9 21.5 51.3 236.6 23 36.9 48.2 25.3 234.9 22.0 51.1 36.9 19.3 48.8 25.3 22.2 51.3 19.3 169.9 48.1 25.3 21.2 17.8 169.9 49.1 25.3 22.9 18 17.8 77.2 49.0 25.3 24.4 91.5 48.8 25.3 24.5 86.6 49.1 25.3 86.2 50.3 25.3 11 83.6 47.5 15.1 91.5 8 15.0 68.9 75.9 14.8 69.7 80.7 5 14.6 23.9 68.9 69.5 14.8 2 20.0 68.0 96.4 15.0 19.8 68.8 97.8 14.7 19.3 69.7 96.2 16.0 19.3 68.6 96.4 15.8 20.0 74.3 93.6 19.8 73.5 97.8 21.9 93.9 21.6 91.0 86.8 ...... 24 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

6 F33643 utfml eieta otae ...... 26 0.0 0.0 31 1614.6 0.0 1585.9 1663.6 0.0 1778.9 1683.3 0.0 1585.9 1624.4 0.0 1675.7 1693.7 0.0 21 19518.4 0.0 19018.7 18571.7 17814.3 0.0 17906.3 19018.7 17842.1 16430.9 7 32FL313190015Other 15983.8 31FL343073045Claimsofpensionfundonsponsor 0.5 30FL313190005Miscellaneousliabilities 9 6 0.5 29FL313140003Insurancereserves 215.1 0.0 28FL313170005Tradepayables 0.5 219.7 27FL313169003Otherloansandadvances 0.0 218.5 26FL313165403Multifamilyresidentialmortgages 0.5 25FL314123005Loans 211.2 0.0 0.5 24FL313161705Budgetagencysecurities 209.1 0.0 23FL313161305Nonmarketable 219.7 22FL313161205Marketable 3 0.5 21FL313161105Treasurysecurities(3) 203.4 0.0 518.9 20FL314122005Debtsecurities 0.5 200.6 407.2 0.0 19FL313112003Treasurycurrency 197.8 386.0 18FL713014003SDRcertificates 0.5 17LM313111303SDRallocations 0.0 267.0 0.5 16FL314190005Totalliabilities 337.9 0.0 407.2 15FL313090005Miscellaneousassets 14FL313078000Taxesreceivable 0.0 405.9 13FL313070000Tradereceivables 232.0 12LM313064105Corporateequities(2) 404.0 11FL313066220Consumercredit(1) 10FL313065005Mortgages 9FL313069005Otherloansandadvances 8FL314023005Loans 7FL313063763Corporateandforeignbonds 6FL313061703Agency-andGSE-backedsecurities 5FL314022005Debtsecurities 4FL313030003Timeandsavingsdeposits 3FL313020005Checkabledepositsandcurrency 2FL313011005U.S.officialreserveassets 1FL314090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.106 FederalGovernment (3) IncludesmarketableandnonmarketableTreasurysecuritiesheldbythepublicfederalgovernmentemployeeretirementfunds. (2) CorporateequitiespurchasedfromfinancialbusinessesundertheTroubledAssetReliefProgram(TARP)andGSEsatmarketprice. thegovernmentpurchasedfromdepositoryinstitutionsandfinancecompanies. (1) IncludesloansoriginatedbytheDepartmentofEducationunderFederalDirectLoanProgram,aswellFamilyProgramthat 38. 43. 56. 62. 58. 58. 60. 62. 71. 22 17115.8 16628.9 20 16303.7 19539.6 15884.3 19039.9 15888.7 18593.1 16628.9 17836.3 15566.2 17928.5 14434.6 19039.9 13880.2 17865.0 16 16455.3 21999.5 16008.3 21470.5 21086.4 20636.0 20628.4 21470.5 20286.4 19010.0 18400.1 0621 0821 2019 2019 2018 2017 2016 91816. 95310. 90427. 92210. 98130 1928.1 1901.1 1962.2 2076.4 1980.4 1901.1 1925.3 1963.0 23 1971.8 2402.6 2389.8 2268.0 1930.0 2017.6 2389.8 2275.9 1996.3 2103.6 11 1350.9 1319.4 8 1311.0 1691.3 1278.3 1662.9 1269.6 1652.9 1319.4 1610.2 1236.3 1602.6 1145.6 1662.9 1049.3 1562.9 1466.0 1 1366.8 3013.5 2854.9 2847.8 2465.3 2589.9 2854.9 2592.5 2286.7 2338.3 7. 8. 0. 1. 9. 9. 9. 1. 1. 32 313.4 315.2 298.6 28 297.4 385.4 297.1 382.2 315.2 377.2 300.9 375.3 287.2 372.8 278.1 382.2 365.2 308.2 290.7 15 220.6 14 376.8 219.0 358.1 218.4 381.5 217.0 161.8 10 214.0 125.3 230.4 219.0 123.8 358.1 212.0 123.5 206.7 197.0 120.7 200.1 186.2 123.9 194.1 123.8 123.2 119.8 119.7 135. 135. 185. 215. 2029 52.0 52.2 52.1 51.7 24 21.2 51.8 21.2 52.2 21.5 19 51.3 25.3 22.0 17 51.1 48.2 25.3 22.2 51.3 48.8 25.3 21.2 48.1 25.3 22.9 13 73.9 49.1 25.3 24.4 12 33.2 73.9 49.0 25.3 24.5 33.2 76.4 48.8 25.3 33.2 76.9 49.1 25.3 33.2 75.8 50.3 25.3 33.2 73.9 47.5 33.2 75.4 2 33.2 65.0 96.4 33.2 64.9 97.8 33.3 96.2 96.4 93.6 97.8 93.9 91.0 86.8 . 5. . 582532672. 581. 27 15.7 25 15.7 15.8 15.8 23.1 18 23.1 216.7 5.2 215.3 216.7 5.2 15.8 215.3 15.8 0.0 5.2 0.0 151.7 5.2 0.0 151.7 5.2 0.0 5.2 5.2 5 5.2 0.5 4 5.2 1.9 0.5 2.3 0.5 2.6 0.5 2.3 0.5 2.1 0.5 2.3 0.5 2.0 0.5 1.9 0.5 1.5 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 83 2020

Levels Levels 2 F23623 on US oenetlas 781. 932. 961. 082. 1222 21.2 21.1 20.8 24 19.9 4927.8 4127.6 19.6 4300.0 21.1 4212.8 4267.0 19.3 19 4127.6 3074.2 4446.2 18.2 3068.2 4017.4 3034.3 17.8 4221.7 3037.4 3055.0 11 3068.2 187.8 3059.4 185.8 3110.5 3110.9 9 183.8 474.1 181.5 24FL223073045Claimsofpensionfundonsponsor(2) 456.6 5 23FL213170003Tradepayables 183.5 148.4 3 451.7 185.8 22FL213169203Loans(U.S.governmentloans) 430.3 146.8 445.8 183.0 423.1 21FL213162200Long-term 2 145.3 450.9 20FL213162400Short-term(1) 198.3 142.3 410.1 19FL213162005Debtsecurities(municipalsecurities) 143.4 456.6 196.0 139.1 405.8 145.0 449.7 18FL214190005Totalliabilities 128.6 405.1 146.8 482.8 17FL213093003Miscellaneousassets 129.0 423.1 16FL213078005Taxesreceivable 144.7 462.1 15FL213070003Tradereceivables 131.3 403.4 156.7 139.1 395.5 14LM213064203Mutualfundshares 154.9 13LM213064103Corporateequities 132.9 381.3 12FL213065005Loans(mortgages) 140.6 143.0 11LM213063003Corporateandforeignbonds 10LM213062003Municipalsecurities 9LM213061703Agency-andGSE-backedsecurities 8LM213061105Treasurysecurities 7FL213069103Openmarketpaper 6LM214022005Debtsecurities 5FL212051003Securityrepurchaseagreements 4FL213034003Moneymarketfundshares 3FL213030000Timeandsavingsdeposits 2FL213020005Checkabledepositsandcurrency 1FL214090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.107 StateandLocalGovernments 84 (2) Includedinmiscellaneousliabilities. (1) Debtwithoriginalmaturityof13monthsorless.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 00637. 01432. 06030. 94432. 01321 3031.3 3023.5 2994.4 18 3000.9 9088.1 3016.0 8269.0 3023.5 8394.5 3021.4 8296.8 3075.4 8355.8 3080.6 8269.0 8526.8 8099.8 8258.9 6 1470.2 1438.5 1400.6 1378.0 1406.4 1438.5 1 1407.5 3168.3 1503.9 3156.6 1490.1 3084.0 3043.0 3050.0 3156.6 3010.5 3128.5 3080.2 0. 5. 01815. 04112. 09315. 04923 1064.9 1052.1 1039.3 1026.7 1014.1 1052.1 16 1001.8 169.1 15 953.8 242.1 168.9 908.5 246.1 13 167.3 135.4 243.8 165.7 12 173.2 239.8 232.8 164.6 160.3 235.7 230.3 168.9 160.2 246.1 227.8 8 163.2 155.4 235.3 224.9 724.3 153.7 173.2 207.5 227.4 711.5 145.6 137.7 201.3 230.3 681.4 151.5 226.9 668.1 130.5 245.8 688.5 243.0 711.5 691.3 732.5 742.7 023. 814. 913. 004. 2920 42.9 44.7 40.0 17 96.7 36.5 79.0 14 39.1 77.2 93.7 44.7 91.5 90.7 38.1 86.6 76.2 10 35.0 15.1 86.2 79.0 30.2 7 15.0 83.6 63.4 68.9 14.8 91.5 70.7 69.7 4 14.6 75.9 99.4 23.9 68.9 14.8 80.7 20.0 68.0 15.0 69.5 19.8 68.8 14.7 19.3 69.7 16.0 19.3 68.6 15.8 20.0 74.3 19.8 73.5 21.9 21.6 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

1 L62903 qiyi ocroaebsns 776. 828. 847. 068. 4851 84.8 83.5 80.6 78.4 78.4 83.5 50 8614.2 78.2 11487.1 10700.0 48 68.7 10621.4 1147.0 10131.8 11487.1 1449.8 67.7 9252.7 1286.4 10035.6 1260.3 8354.8 1223.9 1449.8 40 41 1101.7 419.9 1723.6 1263.1 1421.5 309.0 1073.5 1445.9 308.8 1446.0 38 306.3 1423.5 5055.5 51LM662090003Equityinnoncorporatebusiness 1421.5 4909.2 308.4 50LM793164105Marketvalueofcorporateequities 1490.6 4907.9 37 309.0 9749.7 1494.9 Memo: 4848.0 33 9409.5 310.6 1521.9 4338.0 4802.9 34 49FL793190005Miscellaneousliabilities 3467.4 9322.9 3634.3 4909.2 301.2 3206.0 9243.3 3442.5 4760.7 48LM793192005ForeigndirectinvestmentinU.S. 293.2 31 3287.9 9124.3 3205.9 4701.1 47FL793178005Taxespayable 32 5750.2 3173.6 13505.3 9409.5 3079.4 4703.1 4845.4 12884.2 46FL583150005Pensionentitlements 2947.1 9090.0 3634.3 12683.4 4670.7 45FL543140005Lifeinsurancereserves 3206.0 12523.7 8843.0 3038.3 4462.4 44FL793170005Tradepayables 12429.6 2980.9 8496.1 2848.4 12884.2 4471.7 27 12200.5 2965.5 43LM653164205Mutualfundshares 895.9 2731.3 4845.4 11670.4 2905.8 11371.5 4583.7 1182.6 42FL123165005Mortgages 4268.3 1113.5 41FL793169005Otherloansandadvances 40FL793168005Depositoryinstitutionloansn.e.c. 4123.0 1096.7 39FL794123005Loans 1055.8 1182.6 38FL793163005Corporateandforeignbonds 949.3 37FL423161705Agency-andGSE-backedsecurities 36FL793169175Openmarketpaper 19 1144.7 35FL794122005Debtsecurities 2453.9 944.3 2226.4 34FL792150005Federalfundsandsecurityrepos 2233.8 33FL634090005Moneymarketfundshares 18 2440.4 4462.7 32FL703130005Timeandsavingsdeposits 16 31FL793120005Checkabledepositsandcurrency 2399.6 3818.3 8859.0 2226.4 3784.6 9084.5 30FL794110005Netinterbankliabilities 9 2241.1 3764.6 9031.9 8 703.9 2438.5 3687.5 8731.1 14 29FL794190005Totalliabilities 347.5 7578.2 604.4 2062.8 3818.3 8367.9 7221.9 362.1 28FL793090005Miscellaneousassets 7 3676.5 9084.5 582.5 7208.0 10 795.1 3395.5 357.4 7913.3 27LM793092005U.S.directinvestmentabroad 4153.1 553.9 7125.7 3285.7 8020.6 26FL543050005Pensionentitlements 480.0 369.0 3881.5 6970.4 25FL793040005Lifeinsurancereserves 537.2 7561.8 3883.2 455.0 7221.9 334.7 24FL793070005Tradereceivables 604.4 3586.5 6858.5 457.4 362.1 23LM793064205Mutualfundshares 3344.6 535.0 6938.4 22LM793064105Corporateequities 394.0 302.9 3881.5 6672.4 516.1 3301.8 480.0 293.2 21FL793066005Consumercredit 503.4 2866.5 20FL793065005Mortgages 406.6 261.7 2608.6 19FL793069005Otherloansandadvances 18FL793068005Depositoryinstitutionloansn.e.c. 491.5 17FL794023005Loans 443.0 16FL793063005Corporateandforeignbonds 15FL793062005Municipalsecurities 14FL793061705Agency-andGSE-backedsecurities 13FL793061105Treasurysecurities 12FL793069175Openmarketpaper 11FL794022005Debtsecurities 10FL792050005Federalfundsandsecurityrepos 9FL793034005Moneymarketfundshares 8FL793030005Timeandsavingsdeposits 7FL793020005Checkabledepositsandcurrency 6FL794010005Netinterbankassets 5FL633091003Foreigndeposits 4FL713012003Treasurycurrency 3FL713014003SDRcertificates 2FL713011005U.S.officialreserveassets 1FL794090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.108 DomesticFinancialSectors(1) (1) SumoffinancialsectorsshownontablesL.109 throughL.132. 47. 54. 57. 80. 64. 73. 71. 80. 68. 46 26786.6 28005.3 27412.4 27230.8 43 26844.6 14543.1 28005.3 17659.5 25975.2 16694.7 25943.2 16669.6 24373.9 16179.6 17659.5 14669.8 15899.0 13615.6 35 15208.2 14715.9 14633.0 14531.2 14369.7 14715.9 14281.8 13941.4 13633.2 29 101384.2 28 100982.2 17770.3 98520.4 15695.6 97405.1 16087.6 95919.9 16086.5 100982.2 93042.5 15990.4 93362.4 15695.6 87536.4 16179.3 15434.2 15994.6 22 18026.3 23272.4 21579.9 20 21630.3 15633.6 20975.0 15502.6 23272.4 15359.2 18792.5 17 15162.6 20792.3 25280.2 15012.9 17305.9 24341.3 15502.6 24116.6 14919.4 24062.1 14365.5 23750.2 13808.2 24341.3 23528.0 22792.3 11 21647.9 30626.7 28879.4 28355.9 27258.0 26800.2 28879.4 26292.3 25882.4 24810.3 1 107803.4 108007.8 105353.6 103954.1 102014.9 108007.8 98571.7 99266.9 92557.0 0621 0821 2019 2019 2018 2017 2016 55770. 87282. 18589. 33782. 65149 8615.1 8326.5 8303.7 8298.3 8168.5 45 2106.3 8326.5 2122.4 7897.2 2106.6 7906.5 2085.9 7565.7 2067.9 2122.4 39 2035.2 2366.9 2008.8 1955.2 1925.9 1974.9 1972.1 1952.5 1955.2 2027.4 2038.1 2051.6 30 3062.2 1709.7 1559.5 1544.4 1745.8 1709.7 1810.9 2165.0 1828.0 23 5386.8 6548.7 21 6201.9 2730.1 6250.9 2794.0 6089.1 2739.0 6548.7 2694.6 5562.1 2650.2 6031.8 2794.0 15 5287.2 2074.5 2691.0 2108.9 13 2592.9 11472.2 2076.7 2491.2 9864.7 2045.2 9411.7 2013.1 8640.7 2108.9 8727.6 1976.9 9864.7 2093.6 8902.5 6 2016.4 8197.4 2649.3 8021.6 1631.7 1496.9 1492.2 1649.9 1631.7 1637.3 2025.4 1829.4 3. 8. 8. 9. 8. 8. 9. 9. 2. 44 325.5 295.5 42 297.6 223.4 288.5 224.7 281.5 220.3 295.5 219.7 280.0 36 220.5 403.0 284.2 224.7 397.1 237.7 226.2 402.1 242.0 440.0 236.5 442.5 397.1 431.2 397.2 434.0 25 508.0 24 361.9 500.9 333.5 497.4 337.3 491.8 334.5 487.1 325.5 500.9 333.5 483.5 321.5 511.8 302.9 467.2 283.9 12 642.7 599.5 627.6 715.3 721.2 599.5 641.1 632.4 538.1 9610419712618118516912612447 162.4 172.6 166.9 158.5 158.1 172.6 159.7 160.4 99.6 26 207.8 199.5 198.2 195.2 193.2 199.5 191.4 91.4 83.5 4 50.2 2 31.4 50.1 31.6 50.0 31.3 49.9 31.8 49.9 31.4 50.1 31.6 49.8 31.8 49.4 32.2 48.5 30.4 ...... 5 3.8 3 5.2 7.4 5.2 3.9 5.2 2.2 5.2 1.5 5.2 7.4 5.2 1.5 5.2 3.7 5.2 1.9 5.2 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 85 2020

Levels Levels 2 F73603 eea eev aksok3. 143. 173. 243. 173. 42 32.0 46 31.7 44 1500.6 4921.6 1449.6 32.5 3851.3 1510.4 3697.3 32.4 1578.2 3763.4 1640.2 3893.2 32.5 38 1449.6 3851.3 569.1 39 1686.3 31.7 284.9 3988.7 336.6 1822.5 4368.2 64.1 35 37 32.3 1811.7 313.4 159.3 1779.7 4379.1 34 7.1 1724.2 31.4 335.4 61.2 121.1 1692.1 255.3 12.5 30.4 65.5 44.3 1671.6 33 336.6 1653.7 0.0 8.5 30 53.0 0.7 32 1724.2 515.6 304.0 515.3 1637.2 0.0 54.3 7.7 404.0 564.0 64.1 403.9 28 1540.8 99.0 46FL713061765Agency-andGSE-backedsecurities 382.7 725.2 61.2 1433.5 382.5 0.0 41.8 45FL713061163Treasurysecurities 6.8 263.9 83.4 44FL714022065Amortizedcostofdebtsecurities 263.7 62.3 24 21 319.6 0.0 357.7 12.5 29 334.3 0.0 Memo: 70.3 334.0 2593.2 65.7 468.4 3.7 404.0 2207.3 10.5 403.9 0.0 27 43FL713193005Other 71.5 0.0 2474.3 27.4 2154.0 402.4 42FL713164003FederalReserveBankstock 402.1 1.0 17.2 1548.8 2001.4 41FL713190005Miscellaneousliabilities 69.9 0.0 229.1 0.0 228.9 1427.3 2054.4 31.0 40FL712151115Other(13) 0.0 399.4 83.4 1421.5 2207.3 18 399.2 0.0 39FL712151103Reverserepurchaseagreementoperations(12) 0.0 58.7 1580.8 2117.6 38FL712151003Securityrepurchaseagreements 82.0 1.4 1548.8 1858.2 0.0 0.0 0.0 17 1556.0 37FL713125005Currencyoutsidebanks 1896.4 77.2 3.6 3.7 1949.0 0.0 0.0 36FL713122605Duetorestoftheworld 0.0 76.0 1754.2 3.3 35FL713129003Duetootherfinancialbusiness(11) 4.2 34FL713124005Duetogovernment-sponsoredenterprises 0.0 0.0 3.4 12.1 33FL713123043Treasurytemporarysupplementaryfinancingaccount 9 0.0 16 32FL713123030Treasurygeneraldepositaccount 0.0 1551.9 3.4 262.7 31FL713123023Treasurycashholdings 5.6 14 3431.5 1467.8 30FL713123005Duetofederalgovernment 0.0 0.0 255.6 2372.3 1528.1 15 3.2 29FL713120005Checkabledepositsandcurrency 1555.5 202.5 2360.5 1582.0 0.0 1471.1 2315.0 1620.5 3.3 0.0 28FL703025005Vaultcashofdepositoryinstitutions 1531.5 2330.2 1467.8 27FL713113003Depositoryinstitutionreserves 0.0 1585.3 2372.3 1641.4 3.2 0.0 1623.7 26FL714190005Totalliabilities 2338.0 1809.9 0.0 1471.1 2633.0 1787.5 5.4 255.6 25FL713093005Other 1644.6 2640.7 24FL713091103Nonofficialforeigncurrencies(10) 0.0 1815.3 23FL713090005Miscellaneousassets 17.4 1804.9 22FL713064103Corporateequities(9) 0.0 21FL713068505Otherfinancialbusiness(8) 20FL713068665Brokersanddealers(7) 0.0 19FL713068303Households(TALF)(6) 18FL713068005Loans(depositoryinstitutionloansn.e.c.) 17LM713061703Otheragency-andGSE-backedsecurities 16LM713061903Mortgage-backedsecurities 15LM713061705Agency-andGSE-backedsecurities 14LM713061125OtherTreasurysecurities 13LM713061113Treasurybills 12LM713061103Treasurysecurities 11FL713069603Openmarketpaper 10LM714022005Debtsecurities(5) 9FL712051000Securityrepurchaseagreements 8FL763069143AMLFandMMLF(4) 7FL713068703Discountwindow(3) 6FL713068705Interbankloans(2) 5FL713022003FederalReservefloat(2) 4FL713012003Treasurycurrency 3FL713014003SDRcertificates 2FL713011005U.S.officialreserveassets 1FL714090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.109 MonetaryAuthority(1) 86 (13) Includesreverserepurchaseagreementsconducted throughtheFederalReserve’sForeignRepoPool. (12) Reverserepurchaseagreements(RRPs)conducted aspartoftheFederalReserve’sOvernightRRPOperationalExercise(beginning2013:Q3) andtermRRPoperations(beginning2014:Q4). (11) Depositsofdesignatedfinancialmarketutilities (DFMU). (10) Reciprocalcurrencyarrangements(swaplines) withforeigncentralbanks. (9) PreferredinterestsinAIAAuroraLLCandALICO HoldingsLLC,limitedliabilitycompaniescreatedtoholdcommonstockoflifeinsurance subsidiariesofAIG.Seriesiszeroafter2010:Q4. fromAIGsubsidiaries;toMaidenLaneIIILLC topurchaseCDOsonwhichAIGhadwrittencreditdefaultswapcontracts;AIG;andCommercial PaperFundingFacilityLLC. (8) LoansextendedtoMaidenLaneLLCfacilitate JPMorganChase&Co.’sacquisitionofBearStearnsCompanies,Inc.;toMaidenLaneIILLC topurchaseresidentialmortgage-backedsecurities (7) LoansextendedthroughtheFederalReserve’s PrimaryDealerCreditFacility(PDCF),AMLF(2008-2010),andMMLF(2020). (6) LoansextendedtofinancialinstitutionssuchasdomestichedgefundsthroughtheTermAsset-Backed SecuritiesLoanFacility(TALF). (5) Shownatestimatedfairvalue. MoneyMarketMutualFundLiquidityFacility(MMLF).TheAMLFwasdissovedin2010:Q1. (4) FederalReserveloansextendedtoU.S.-chartereddepositoryinstitutionsthroughtheAsset-Backed CommercialPaperMoneyMarketMutualFundLiquidityFacility(AMLF)andthe (3) FederalReserveloansextendedtoU.S.-chartereddepositoryinstitutionsthroughtermauction credit,primarysecondaryandseasonalcredit. (2) ShownontableL.203aspartofline24. (1) AssetsandliabilitiesofFederalReserveBanksTreasurymonetaryaccountsthatsupplyor absorbbankreserves.ExcludestheaccountsofFederalReserveBoard.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 57424. 32520. 23028. 16920. 41145 3421.1 2401.6 2186.9 2185.3 2253.0 2401.6 2302.5 2545.7 2567.4 26 5786.4 4216.6 4005.3 3870.6 4000.5 4216.6 4100.2 4486.8 4489.4 12 3757.4 2540.7 10 5312.9 2366.5 4011.9 2315.0 3897.9 2330.2 3900.4 2540.7 3953.9 2338.0 4011.9 2633.0 3982.6 2640.7 4448.3 4445.6 1 6179.6 4379.1 4207.8 4009.4 4063.1 4379.1 4095.9 4572.0 4561.0 5. 4. 6. 7. 5. 9. 0. 7. 8. 40 284.2 272.6 306.3 291.1 254.6 272.6 262.2 244.4 256.9 763. 064. 004. 034. 0841 50.8 40.4 40.3 40.9 40.0 40.4 40.6 38.5 37.6 25 24.7 23 21.7 382.4 25.4 20.6 21.6 22.8 22.8 22.1 23.5 21.7 25.4 23.1 27.3 25.7 37.7 26.5 32.0 4 50.2 2 31.4 50.1 31.6 50.0 31.3 49.9 31.8 49.9 31.4 50.1 31.6 49.8 31.8 49.4 32.2 48.5 30.4 08-. 08-. 08-. 07-. 075 -0.7 -0.6 -0.7 -0.8 -0.8 -0.6 -0.8 -0.9 -0.8 ...... 8843 18.8 8.7 7.8 8.5 36 7.5 17.4 8.7 5.2 8.2 5.2 31 0.3 7.1 5.3 0.2 7.2 5.3 0.2 5.2 0.2 5.3 0.3 5.3 22 0.2 0.0 5.2 0.2 0.0 20 19 58.7 0.0 0.2 0.0 0.0 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 11 0.0 13 0.0 0.0 325.9 0.0 0.0 168.5 0.0 0.0 0.0 6.0 8 0.0 0.0 0.0 7 27.5 0.0 6 0.0 49.1 0.0 0.0 76.6 0.0 0.0 0.0 0.0 0.0 0.0 3 0.0 0.0 0.0 0.0 0.1 5.2 168.5 0.1 0.0 0.0 0.0 0.1 5.2 0.1 0.0 0.0 0.0 0.0 5.2 0.0 0.0 0.0 0.0 0.0 5.2 0.0 0.0 0.0 0.1 5.2 0.1 0.0 0.1 5.2 0.1 0.0 0.1 5.2 0.1 5.2 5.2 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

6 F73633 osmrlae o nlddaoe()931. 241. 301. 311. 3436 13.4 13.1 13.1 12.7 13.0 34 122.4 13.1 31 119.5 316.7 33 12.4 118.7 2618.7 405.8 29 2603.5 122.4 677.9 11.2 362.5 2574.1 138.5 537.2 2584.4 360.4 9.3 119.5 2517.4 556.1 353.7 2603.5 123.1 25 591.9 405.8 2500.5 788.3 79.7 574.9 2495.7 318.1 717.1 2397.2 537.2 99.8 348.9 706.8 635.0 37FL703139105Uninsureddeposits(3) 300.5 664.7 641.3 36FL763066303Consumerleasesnotincludedabove(2) 640.4 24 13505.3 613.1 717.1 12884.2 19 Memo: 12683.4 233.4 646.7 12523.7 35FL703193005Other 12429.6 309.1 722.9 12884.2 34FL753194503Investmentbyotherfinancialbusinesses 12200.5 294.9 33FL763194735Investmentbyholdingcompanies 11670.4 635.9 32FL703190005Miscellaneousliabilities 11371.5 285.4 31LM753192003ForeigndirectinvestmentinU.S. 277.6 30FL763178003Taxespayable(net) 309.1 29FL703169005Loans(otherloansandadvances) 252.8 28FL763163005Corporatebonds 293.6 10 27FL703169175Openmarketpaper 642.8 239.5 26FL704122005Debtsecurities 12 654.7 4404.0 25FL702150005Federalfundsandsecurityrepos 672.4 3818.3 24FL703130005Timeandsavingsdeposits 3784.6 663.5 23FL703127005Checkabledeposits 3764.6 653.4 4 8 3687.5 22FL704110005Netinterbankliabilities 659.3 654.7 2823.3 3818.3 21FL704190005Totalliabilities 738.3 2634.4 3676.5 611.8 3 2635.6 3395.5 736.0 2474.3 20FL703090005Miscellaneousassets 670.8 2581.6 3285.7 1548.8 19LM763092000U.S.directinvestmentabroad 758.8 2505.7 682.5 1427.3 724.8 18FL763040005Lifeinsurancereserves 2634.4 1421.5 2445.5 738.3 1580.8 17LM703064205Mutualfundshares 2422.6 1548.8 16LM703064105Corporateequities 702.0 2253.0 1556.0 490.7 15FL703066005Consumercredit 1949.0 14FL703065005Mortgages 1754.2 411.6 13FL703069005Otherloansandadvances 12FL703068005Depositoryinstitutionloansn.e.c. 11FL704023005Loans 10LM703063005Corporateandforeignbonds 9LM703062005Municipalsecurities 8LM703061705Agency-andGSE-backedsecurities 7LM703061105Treasurysecurities 6FL703069175Openmarketpaper 5LM704022005Debtsecurities 4FL702050005Federalfundsandsecurityrepos 3FL713113003ReservesatFederalReserve 2FL703025005Vaultcash 1FL704090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.110 PrivateDepositoryInstitutions(1) (3) Includescheckabledeposits(line23)andtimesavings24)notinsuredbythe FederalDepositInsuranceCorporationortheNationalCreditUnionShareFund. Theleasedautomobileisanonfinancialasset. (2) Receivablesfromoperatingleases,suchasconsumerautomobilearebookedcurrent incomewhenpaymentsarereceivedandnotincludedinfinancialassets(orhouseholdliabilities). (1) U.S.-chartereddepositoryinstitutions(L.111),foreignbankingoffices(L.112),banksinU.S.-affiliated areas(L.113),andcreditunions(L.114). 84. 91. 05. 13. 03. 06. 07. 13. 26. 21 22862.9 21130.1 20779.1 20564.8 20339.1 21130.1 20154.2 19619.9 18742.8 11 12301.5 11727.0 11577.4 11462.3 11268.1 11727.0 11270.4 10708.4 10268.6 1 21918.2 20051.8 19755.5 19511.8 19308.8 20051.8 19194.9 18833.5 17963.1 0621 0821 2019 2019 2018 2017 2016 75258. 10060. 11463. 53660. 48037 7458.0 6706.7 6503.6 6330.5 6171.4 6706.7 6190.0 32 5988.7 3556.5 5765.2 3498.6 3523.3 3533.8 3449.2 3498.6 3317.0 3321.8 3199.1 23 3157.0 2638.1 2516.7 2461.0 2417.3 2638.1 2466.1 2410.2 2226.6 15 2198.8 14 5698.7 2253.3 5655.4 2199.5 5593.4 2157.1 5540.6 2116.1 5464.6 2253.3 5655.4 2151.1 5442.8 2030.2 5282.7 5 1912.4 5070.6 4879.5 4647.3 4639.7 4498.0 4393.6 4647.3 4298.9 4288.3 4141.3 0. 4. 9. 7. 9. 2. 3. 7. 1. 35 815.4 775.5 830.5 827.1 793.3 775.5 28 693.4 145.5 27 119.4 26 746.4 141.1 264.8 106.5 702.1 140.9 247.6 108.3 151.3 249.3 117.6 154.0 268.9 119.5 141.1 273.5 106.5 160.0 247.6 128.3 147.7 288.2 20 113.6 946.9 182.7 261.3 143.9 606.4 326.7 18 179.7 637.8 178.8 16 642.0 95.9 176.9 631.4 147.7 175.5 606.4 133.9 173.4 696.9 135.2 178.8 663.3 129.5 172.1 748.2 9 147.7 168.2 490.2 7 109.1 161.8 478.3 894.4 127.6 475.5 879.3 104.0 482.1 855.8 497.2 770.4 478.3 737.0 504.8 879.3 578.9 736.7 551.7 616.0 654.1 1614319714215518919114217530 107.5 124.2 119.1 108.9 105.5 124.2 109.7 104.3 71.6 17 48.7 64.9 61.2 61.5 59.6 64.9 54.7 67.1 57.9 2 99.0 83.4 70.3 71.5 69.9 83.4 82.0 77.2 76.0 221881297. 515. 197. 8. 22 488.8 77.4 61.9 51.5 95.1 77.4 172.9 138.8 -2.2 ...... 13 0.0 0.0 0.0 6 0.0 28.7 0.0 0.7 0.0 0.4 0.0 0.4 0.0 0.3 0.0 0.7 0.2 0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 87 2020

Levels Levels 1 F73633 osmrlae o nlddaoe()931. 241. 301. 311. 3451 13.4 13.1 13.1 12.7 13.0 13.1 49 46 2618.7 12.4 615.1 2603.5 484.9 2574.1 11.2 2584.4 502.0 9.3 2517.4 42 540.5 2603.5 191.1 524.1 2500.5 167.0 2495.7 484.9 180.3 2397.2 577.3 41 34 153.9 11428.6 76.6 586.5 10804.8 52FL763139105Uninsureddeposits(2) 152.0 10671.8 566.4 0.0 10493.7 167.0 51FL763066303Consumerleasesnotincludedabove(1) 10421.0 10804.8 143.1 0.1 10293.9 Memo: 9802.0 170.4 9575.6 50FL763193005Other 0.1 162.6 49FL763194735Investmentbyholdingcompanies 48FL763190005Miscellaneousliabilities 0.0 29 47FL763178003Taxespayable(net) 233.4 0.0 46FL763169305Loans(otherloansandadvances) 309.1 0.1 294.9 45FL763163005Corporatebonds 44FL763169175Openmarketpaper 285.4 43FL764122005Debtsecurities 0.1 277.6 42FL762150005Federalfundsandsecurityrepos 0.1 309.1 41FL763130005Timeandsavingsdeposits 252.8 40FL763122605Restoftheworld 39FL763129205Privatedomestic 293.6 38FL763123005Federalgovernment 239.5 37FL763127005Checkabledeposits 22 3459.6 17 16 2.6 36FL764116005Toforeignbanks 3026.5 6.4 15 19 35FL764112005Todomesticbanks 3009.5 18 454.1 43.1 34FL713068705BorrowingfromFederalReservebanks 36.5 2.7 2985.9 5.4 33FL713022003FederalReservefloat 499.6 42.3 2929.6 32FL764110005Netinterbankliabilities 34.6 502.0 2.3 3026.5 4.4 42.6 31FL764190005Totalliabilities 2928.6 34.9 496.4 2.0 2674.5 42.1 3.6 30FL763090005Miscellaneousassets 498.4 34.6 2569.9 499.6 2.0 41.1 29LM763092000U.S.directinvestmentabroad 12 3.9 32.7 11 197.0 28FL763040005Lifeinsurancereserves 447.7 451.7 10 42.3 2.7 161.1 178.1 34.6 5.4 27LM763064203Mutualfundshares 427.9 493.0 4 8 149.1 26LM763064105Corporateequities 3 39.0 173.1 331.4 32.5 429.2 506.4 2.0 2582.8 1476.5 3.7 146.3 163.4 9 25FL763066000Consumercredit 358.5 2408.2 36.1 423.6 907.3 39.3 24FL763065005Mortgages 1665.0 3.0 2411.1 139.3 157.6 332.3 4.5 23FL763069703Otherloansandadvances 423.2 838.2 42.7 1532.2 2363.2 46.4 130.8 22FL763068005Depositoryinstitutionloansn.e.c. 178.1 376.4 1531.9 427.9 806.7 2293.1 3.4 21FL764023005Loans 7.8 149.1 153.5 1495.7 359.4 2408.2 417.6 898.6 20LM763063095Other 1435.6 2239.3 123.7 139.7 358.5 19LM763063693Priv.commercialCMOsandotherstructuredMBS 411.4 907.3 1532.2 2207.4 116.0 18LM763063663Priv.residentialCMOsandotherstructuredMBS 124.7 382.8 1394.9 417.7 888.4 2058.0 17LM763063653Priv.commercialmortgagepass-throughsecurities 94.0 1382.0 222.5 16LM763063673Priv.residentialmortgagepass-throughsecurities 1161.9 15LM763063005Corporateandforeignbonds 1260.1 1114.6 218.5 14LM763062000Municipalsecurities 13LM763061795Other 12LM763061403CommercialCMOsandotherstructuredMBS 11LM763061603ResidentialCMOsandotherstructuredMBS 10LM763061303Commercialmortgagepass-throughsecurities 9LM763061803Residentialmortgagepass-throughsecurities 8LM763061705Agency-andGSE-backedsecurities 7LM763061100Treasurysecurities 6FL763069175Openmarketpaper 5LM764022005Debtsecurities 4FL762050005Federalfundsandsecurityrepos 3FL763013005ReservesatFederalReserve 2FL763025000Vaultcash 1FL764090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.111 U.S.-CharteredDepositoryInstitutions 88 (2) Includescheckabledeposits(line37)andtime andsavingsdeposits(line41)notinsuredbytheFederalDepositInsuranceCorporation. Theleasedautomobileisanonfinancialasset. (1) Receivablesfromoperatingleases,suchasconsumer automobileleases,arebookedascurrentincomewhenpaymentsreceivedandnot includedinfinancialassets(orhouseholdliabilities).

Z.1, June11,2020 54. 66. 62. 75. 69. 63. 71. 75. 85. 31 18558.9 17257.7 17015.0 16836.6 16590.0 17257.7 16524.3 16062.9 15544.5 1 17646.4 16332.3 16063.7 15841.7 15640.8 16332.3 15633.1 15318.5 14819.8 0621 0821 2019 2019 2018 2017 2016 78848. 04658. 00653. 37158. 26652 6226.6 5481.6 5327.1 5135.5 5000.6 5481.6 48 5084.6 3286.7 4885.3 3270.5 4728.8 3270.3 3270.2 3177.5 3270.5 3077.7 3108.6 2981.0 39 2408.2 37 1966.3 2649.9 1856.7 2191.5 1809.6 2072.0 1785.8 2027.2 1966.3 1992.3 1844.6 2191.5 1813.6 2053.7 1677.2 2015.4 1879.7 25 1709.8 24 5020.9 1770.9 4987.5 1715.9 4940.1 21 1684.3 10190.3 4900.0 1644.5 9784.8 4835.7 1770.9 9665.5 4987.5 1681.9 9570.2 4818.1 1611.8 9409.8 4698.5 1532.1 9784.8 4537.6 9428.6 8984.8 8639.6 5 4272.1 4083.5 4057.4 3927.8 3846.4 4083.5 3759.5 3757.4 3637.7 8. 1. 7. 6. 6. 8. 9. 6. 6. 50 668.0 667.0 696.2 685.9 660.1 45 145.5 667.0 43 141.1 577.2 218.3 140.9 612.9 209.2 151.3 583.8 209.5 154.0 230.3 141.1 235.6 160.0 209.2 147.7 247.5 182.7 223.2 277.5 30 722.6 417.6 28 179.7 436.2 178.8 26 434.7 95.9 176.9 419.5 147.7 175.5 417.6 133.9 173.4 505.7 135.2 178.8 460.6 129.5 172.1 572.1 20 365.5 147.7 168.2 414.6 109.1 161.8 417.7 127.6 414.2 104.0 14 482.9 13 418.7 112.1 471.7 414.6 121.0 469.9 374.5 130.6 476.1 409.9 7 141.3 491.1 724.7 406.1 145.9 471.7 704.1 121.0 498.8 674.5 149.6 572.6 592.2 158.3 544.9 563.8 161.5 704.1 569.8 484.4 528.4 3. . 61-. 44-36-12-. 2. 35 -25.6 -8.5 -11.2 -13.6 -4.4 -8.5 -6.1 3.1 -34.8 1614319714215518919114217547 107.5 44 124.2 72.8 119.1 68.2 108.9 68.6 105.5 40 97.7 79.0 124.2 84.5 109.7 81.6 104.3 36 84.7 68.2 11.5 71.6 87.0 87.5 14.7 32 73.6 75.5 61.8 1.8 84.5 94.7 5.6 26.2 74.4 -10.0 -12.9 59.4 11.9 14.7 57.2 -18.1 27 28.4 45.6 5.6 50.3 61.6 21.5 65.6 58.0 52.6 58.3 30.1 56.7 61.6 52.1 64.8 55.9 2 99.0 83.4 70.3 71.5 69.9 83.4 82.0 77.2 76.0 08-. 08-. 08-. 07-. 0733 -0.7 -0.6 -0.7 -0.8 -0.8 -0.6 -0.8 -0.9 -0.8 ...... 38 1.7 1.6 2.0 1.6 1.6 1.6 1.8 1.9 2.2 23 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6 0.0 27.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

7 F73953 netetb te iaca uiess9. 9713119518512418719512427 24 122.4 46.5 25 316.7 119.5 38.4 405.8 118.7 23 22 39.7 362.5 597.2 859.8 122.4 360.4 38.6 550.0 909.1 138.5 353.7 526.5 860.1 119.5 37.9 405.8 510.8 881.7 123.1 38.4 318.1 488.3 868.3 79.7 40.8 348.9 550.0 909.1 99.8 300.5 38.1 503.6 819.8 552.5 821.8 49.2 29FL753139105Uninsureddeposits(2) 473.3 795.9 Memo: 28FL753193005Other 12 27FL753194503Investmentbyotherfinancialbusinesses 843.3 10 26FL753190005Miscellaneousliabilities 8 164.3 687.2 59.4 25LM753192003ForeigndirectinvestmentinU.S. 134.6 680.1 53.2 150.0 24FL753169175Debtsecurities(openmarketpaper) 683.6 52.1 150.4 672.9 23FL752150005Federalfundsandsecurityrepos 3 143.3 4 687.2 45.5 873.8 22FL753130005Timeandsavingsdeposits 327.2 134.6 21FL753127005Checkabledeposits 661.9 41.6 554.1 379.0 149.7 629.8 20FL754112005Todomesticbanks 505.7 53.2 402.9 19FL754116005Toforeignbanks 160.2 632.9 523.8 18FL754110005Netinterbankliabilities 381.7 42.9 157.9 577.3 364.8 17FL754190005Totalliabilities 45.7 554.1 379.0 16FL753093005Miscellaneousassets 598.6 21.1 319.0 15FL753064103Corporateequities 710.1 268.1 14FL753065005Mortgages 567.8 193.1 13FL753069703Otherloansandadvances 12FL753068005Depositoryinstitutionloansn.e.c. 11FL754023005Loans 10LM753063005Corporateandforeignbonds 9LM753062003Municipalsecurities 8LM753061703Agency-andGSE-backedsecurities 7LM753061103Treasurysecurities 6FL753069603Openmarketpaper 5LM754022005Debtsecurities 4FL752050005Federalfundsandsecurityrepos 3FL753013003ReservesatFederalReserve 2FL753025003Vaultcash 1FL754090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.112 ForeignBankingOfficesinU.S.(1) (2) Allcheckabledeposits(line21)andtimesavings22)areconsidereduninsuredaccordingtotheFederalDepositInsuranceAct. (1) Branchesandagenciesofforeignbanks,EdgeActAgreementcorporations,NewYorkinvestmentcompanies(through1996:Q2),AmericanExpressBank2008:Q4). 0621 0821 2019 2019 2018 2017 2016 94126. 29021. 35820. 37721. 78817 2778.8 2410.2 2327.7 2307.3 2335.8 2410.2 2269.0 2266.7 1984.1 1 2573.4 2089.7 2089.6 2087.9 2099.1 2089.7 2051.5 2084.9 1797.9 4. 06897619. 09217. 04319. 07429 1097.4 1097.8 26 1054.3 251.9 1079.4 205.6 1059.2 1097.8 230.3 997.6 239.7 1006.8 248.9 948.6 21 205.6 237.6 217.8 188.8 190.8 194.1 197.1 197.7 190.9 188.8 177.8 185.0 152.7 11 926.3 767.9 760.7 762.0 5 750.8 340.1 767.9 308.9 739.5 334.4 706.8 325.6 701.0 312.9 308.9 318.1 303.3 273.1 1. 0. 7. 0. 3. 9717917540419 460.4 107.5 107.9 69.7 135.6 107.5 178.5 107.7 -11.6 731119. 611041731158. 2. 28 129.6 86.1 111.5 117.3 110.4 20 86.1 8.7 94.8 5.0 111.1 6.6 97.3 18 469.1 8.8 16 105.9 112.5 12.1 79.7 114.4 14 78.4 5.0 83.0 85.9 147.7 80.8 94.9 12.6 112.5 80.6 93.2 21.9 191.1 78.3 79.7 27.0 129.6 77.8 76.2 15.4 7 80.8 96.6 116.4 77.6 63.0 121.1 132.3 77.0 129.6 68.1 128.0 121.1 125.6 97.4 94.0 ...... 15 0.0 13 0.0 0.0 0.0 0.0 9 0.0 0.0 0.0 6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 89 2020

Levels Levels M4030 oprt n oeg od ...... 097 10.9 9 19.4 7.8 10 5 12.7 18.1 7.2 8.0 13.2 Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted 15.4 8.0 4.7 L.114 CreditUnions 13.4 15.9 7.8 0.1 13.6 14.2 (2) Includescheckabledeposits(line15)andtimesavings16)notinsuredbytheFederalDepositInsuranceCorporation. 8.4 13.8 7.8 18.1 (1) CommercialbanksandbranchesofU.S.-chartereddepositoryinstitutionslocatedinPuertoRico,theU.S.VirginIslands,AmericanSamoa,Guam,otherU.S.-affiliatedinsularareas. 13.2 8.2 13.1 18FL743139105Uninsureddeposits(2) 0.1 14.1 12.6 Memo: 8.0 7.0 15.3 13.0 17FL743193005Miscellaneousliabilities 8.0 6.7 16FL743130003Timeandsavingsdeposits 15.0 15FL743127003Checkabledeposits 1.5 14FL744110005Netinterbankliabilities 13FL744190005Totalliabilities 1.5 12FL743093005Miscellaneousassets 11FL743065505Commercialmortgages 10FL743065103One-to-four-familyresidentialmortgages 9FL743068005Depositoryinstitutionloansn.e.c. 8FL744023003Loans 7LM743063005Corporateandforeignbonds 6LM743062003Municipalsecurities 5LM743061703Agency-andGSE-backedsecurities 4LM743061103Treasurysecurities 3LM744022003Debtsecurities 2FL743013003ReservesatFederalReserve 1FL744090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.113 BanksinU.S.-AffiliatedAreas(1) 90 0 F42503 eea ud n euiyrps00000000000000000020 0.0 21 0.0 62.9 0.0 52.3 54.2 0.0 19 51.4 1176.5 0.0 1130.6 50.7 1111.3 0.0 52.3 1109.9 1102.6 0.0 57.7 11 1130.6 81.7 9 1048.3 0.0 54.8 13.5 1008.6 86.6 46.7 957.3 0.0 12.6 79.5 3 12 572.9 0.8 12.3 79.2 564.5 (1) Includescheckabledeposits(line18)andtimesavings19)notinsuredby theNationalCreditUnionShareInsuranceFund. 12.0 0.8 2 70.8 7 549.8 116.0 23FL473139103Uninsureddeposits(1) 173.9 11.7 538.9 86.6 0.8 83.0 165.0 Memo: 12.6 527.4 73.0 0.7 76.1 164.7 22FL473193005Miscellaneousliabilities 564.5 10.4 78.6 21FL473169333Loans(otherloansandadvances) 164.5 85.9 523.0 0.6 20FL472150053Federalfundsandsecurityrepos 10.7 162.8 69.8 19FL473130005Timeandsavingsdeposits 481.4 98.3 18FL473127003Checkabledeposits 0.8 165.0 11.5 439.4 17FL474110005Netinterbankliabilities 83.0 155.3 0.2 16FL474190005Totalliabilities 62.9 168.0 15FL473090005Miscellaneousassets 0.2 172.3 69.3 14LM473064205Mutualfundshares 67.2 0.0 13FL473066000Consumercredit 12FL473065100One-to-four-familyresidentialmortgages 11FL473068005Depositoryinstitutionloansn.e.c. 10FL474023000Loans 9LM473063005Corporateandforeignbonds 8LM473062005Municipalsecurities 7LM473061705Agency-andGSE-backedsecurities 6LM473061105Treasurysecurities 5FL473069153Openmarketpaper 4LM474022005Debtsecurities 3FL472050053Federalfundsandsecurityrepos 2FL473013005ReservesatFederalReserve 1FL474090005Totalfinancialassets

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 11811. 29717. 32813. 37817. 48116 1438.1 1375.4 1347.8 1337.4 1332.8 1375.4 1279.7 1211.7 1131.8 1 1603.0 1534.2 1504.0 1489.1 1478.7 1534.2 1419.1 1342.1 1253.8 5. 7. 9. 1. 9. 9. 0. 1. 2. 18 224.1 212.1 203.8 192.8 193.1 13 489.0 212.1 482.4 193.8 483.6 172.4 472.8 10 157.1 1143.6 471.6 1133.6 482.4 1112.9 4 1090.9 469.2 233.3 1069.7 418.4 221.3 1133.6 380.3 216.8 1065.2 978.4 215.9 889.5 213.4 221.3 201.8 213.0 217.5 4. 4. 3. 3. 3. 3. 4. 3. 4. 17 -40.2 -39.1 -41.0 -37.4 -33.2 -39.1 -38.4 -42.4 -46.5 422. 933. 963. 463. 3718 33.7 33.6 34.6 16 40.4 15 45.5 31.9 39.8 45.7 29.6 13 87.0 40.2 11 46.7 12 33.6 9.2 12.0 86.9 38.4 43.3 29.3 9.4 17.0 88.7 37.6 41.0 25.3 8 21.7 83.6 39.8 9.5 41.3 45.7 24.2 19.9 80.6 38.5 9.8 40.7 40.9 24.9 86.9 38.1 38.3 9.9 37.4 3 17.0 81.2 42.7 34.0 39.3 37.1 9.4 28.5 78.5 33.6 37.9 1 10.0 27.1 82.5 95.3 31.1 40.7 10.5 35.5 95.6 28.7 37.1 10.6 98.2 20.8 38.4 93.0 33.6 38.6 90.2 19.5 95.6 14.7 91.2 13.0 88.0 91.7 357. 869. 208. 779. 0. 23 100.4 93.7 22 14.8 87.7 19.4 83.8 19.5 82.0 20.7 93.7 19.6 78.6 15 106.4 19.4 71.3 92.2 18.3 63.5 94.1 18.3 92.5 17.2 93.7 6 92.2 38.6 86.5 37.5 79.0 34.9 77.6 34.2 33.8 37.5 31.1 29.3 28.6 12-. 13-. 13-. 15-. 1914 -1.9 -1.6 -1.5 -1.4 -1.3 -1.6 -1.3 -1.0 -1.2 ...... 17 3.1 3.0 3.2 3.2 3.2 3.0 6 3.2 1.2 4.1 1.2 4 2 3.8 14.7 1.2 8.0 16.6 1.2 4.4 14.0 1.2 7.3 14.4 1.2 5.1 11.3 1.2 6.6 16.6 10.2 1.3 4.4 5.0 1.7 6.0 3.1 7.8 4.6 ...... 14 3.0 3.3 3.2 8 3.3 6.1 5 3.0 5.5 1.2 3.3 4.5 0.7 2.5 4.8 0.4 2.3 4.8 0.4 1.9 5.5 0.3 4.8 0.7 5.1 0.2 5.1 0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

6 F23705 enue rmnnUS enues3. 015. 135. 016. 136. 36 61.7 61.3 34 35 153.1 167.7 60.4 152.0 166.6 60.1 149.8 32 164.2 27.1 31 149.2 59.4 20.8 163.5 27 27.2 147.4 6.7 61.3 161.5 21.8 152.0 26.7 166.6 59.2 6.8 22.7 147.0 161.1 26.4 50.1 23.3 140.1 6.7 159.3 26.1 22 124.3 39.8 21 23.3 137.8 6.0 0.3 6.8 27.2 21.8 3.5 25 0.2 6.3 25.5 243.9 23.5 3.4 22.1 313.1 0.2 6.8 26.5 273.0 20.9 3.3 0.2 6.0 26.7 268.8 3.8 264.5 0.2 4.8 36FL263076005Reinsuredfromnon-U.S.reinsurers 35FL263176005Reinsuredtonon-U.S.reinsurers 313.1 3.5 34FL513176025ReinsuredtoU.S.reinsurers 0.2 4.3 240.4 33FL513176015Directreserve 3.3 266.0 0.2 15 32FL514090033Mortgageguarantyinsurers’totalassets(3) 121.0 31FL514090023Financialguarantyinsurers’totalassets(3) 233.0 2.9 0.4 162.1 11 30FL513200003Securitieslending(2) 23.6 145.7 2.9 0.4 Memo: 22.9 146.7 29FL513193005Other 141.8 20.9 4 10 28FL513176005Policypayables 581.4 2.4 162.1 27FL513194733Investmentbyparentcompanies 20.9 26FL513190005Miscellaneousliabilities 594.8 126.8 2.0 20.8 601.0 8 25LM513192003ForeigndirectinvestmentinU.S. 146.0 24FL513178005Taxespayable 153.0 582.9 22.9 2 1.7 124.3 23FL513170005Tradepayables 149.7 47.0 559.7 20.5 22FL513169333Loans(otherloansandadvances) 1.8 142.8 594.8 47.6 21FL512151003Securityrepurchaseagreements 17.8 136.7 534.0 1.7 45.5 20FL514190005Totalliabilities 133.7 15.5 482.2 41.0 19FL513093005Other 2.0 149.7 470.3 18FL513076005Policypayables(1) 127.0 17FL513092403EquityinFHLB 32.3 1.3 16FL513090005Miscellaneousassets 115.1 47.6 15LM513092003U.S.directinvestmentabroad 1.4 108.0 14FL513070005Tradereceivables 30.2 1.4 13LM513064205Mutualfundshares 31.9 12LM513064105Corporateequities 27.6 11FL513065505Loans(commercialmortgages) 10LM513063005Corporateandforeignbonds 9LM513062005Municipalsecurities 8LM513061705Agency-andGSE-backedsecurities 7LM513061105Treasurysecurities 6FL513069105Openmarketpaper 5LM514022005Debtsecurities 4FL512051005Securityrepurchaseagreements 3FL513034005Moneymarketfundshares 2FL513020005Checkabledepositsandcurrency 1FL514090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.115 Property-CasualtyInsuranceCompanies carryingvalue. (3) Totalnonfinancialandfinancialassetsofguarantyinsurersmortgage asreportedinstatutoryfinancialstatements,withsecuritiesatbook/adjusted (2) Liabilityforsecuritieslendingcollateral,includedinline29. (1) Policypayablesduefromreinsurers. 0621 0821 2019 2019 2018 2017 2016 00416. 08012. 01110. 18812. 12933 1132.9 1124.9 1108.8 1104.3 1091.1 1124.9 1088.0 1060.0 28 1010.4 1347.7 26 1338.2 1606.3 1319.0 1596.8 1313.6 1579.4 1297.9 1561.5 1338.2 1533.8 1294.2 1596.8 1250.2 1517.6 1174.4 20 1475.4 1952.4 1364.3 2005.5 1947.0 1924.6 1893.2 2005.5 1851.0 1826.4 1676.5 5 1190.8 1192.8 1194.3 1177.6 1 1154.4 2567.9 1192.8 2650.1 1118.6 2613.7 1097.2 2565.5 1064.2 2490.5 2650.1 2412.5 2388.0 2223.6 8. 2. 1. 5. 2. 4. 5. 5. 5. 29 251.9 251.7 253.8 241.0 229.6 251.7 217.4 220.4 185.6 19 221.9 18 320.8 168.4 16 318.6 543.1 188.6 314.0 487.1 181.6 14 312.7 200.1 502.8 178.3 309.0 191.2 494.5 12 168.4 396.1 318.6 193.9 487.5 185.0 493.9 308.1 195.7 487.1 171.4 457.2 299.4 189.7 9 493.3 179.5 436.7 281.1 262.1 191.2 470.9 7 417.4 285.2 186.1 168.4 441.8 493.9 289.4 168.2 153.4 392.1 291.0 158.9 152.2 410.6 293.0 157.0 354.3 285.2 157.4 291.6 153.4 338.9 156.8 350.7 149.6 114.9 746. 687. 727. 967. 0923 80.9 79.6 79.6 78.6 77.2 79.6 76.8 13 68.4 22.0 67.4 25.8 25.8 6 25.1 6.9 23.2 9.7 25.8 3 9.0 21.3 21.7 10.1 24.4 24.7 10.6 20.0 25.9 9.7 25.5 9.2 21.9 24.7 11.4 22.3 20.3 19.6 15.6 ...... 30 5.9 6.0 6.1 6.0 6.3 6.0 24 15.0 5.9 12.4 5.1 11.4 17 12.3 3.1 0.3 13.6 0.2 12.4 0.2 12.6 0.2 13.3 8.4 0.2 0.2 0.2 0.2 0.2 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 91 2020

Levels Levels 3 F53705 enue rmnnUS enues2. 572. 702. 642. 702. 43 27.9 27.0 41 42 741.1 474.6 26.8 733.6 460.6 26.4 727.9 457.9 719.3 26.2 451.7 34 713.1 0.0 27.0 447.8 733.6 460.6 5.9 26.0 37 705.1 809.2 444.4 35 25.7 639.0 5.9 845.1 97.8 363.5 616.4 22.4 831.9 326.9 91.9 5.7 827.9 32 89.9 155.6 5.2 815.5 198.3 88.8 845.1 5.9 27 26 159.4 107.7 27.1 785.3 89.1 151.2 4.8 88.7 805.3 17.5 91.9 147.4 768.4 86.1 15.8 20.8 85.7 43FL543176035Reinsuredfromnon-U.S.reinsurers 198.3 42FL543076035Reinsuredtonon-U.S.reinsurers 82.2 13.3 23.2 128.9 82.7 41FL543176025ReinsuredtoU.S.reinsurers 40FL543176015Directreserve 82.2 153.6 22 23.5 70.7 19 39.0 65.3 39FL543200073Securitieslending(5) 126.4 88.7 17.5 36.5 86.2 Memo: 81.1 24.1 36.6 66.9 38FL543193005Other 74.8 21.4 37FL593095005Unallocatedinsurancecontracts 35.7 67.4 36FL543195005Otherreserves(4) 68.3 21.6 35FL673090543Fundingagreementsbackingsecurities(3) 36.4 34FL543194733Investmentbyparentcompanies 66.8 33FL543190005Miscellaneousliabilities 36.5 86.2 12 32LM543192073ForeigndirectinvestmentinU.S. 171.1 35.0 31FL543178075Taxespayable 59.8 165.5 33.1 30FL543150005Pensionentitlements(2) 81.9 4 168.9 29FL543140005Lifeinsurancereserves 9.8 31.3 28FL543170005Tradepayables 64.8 167.0 27FL543169373Loans(otherloansandadvances) 168.7 6.3 10 8 26FL542151073Securityrepurchaseagreements 3088.8 165.5 407.1 3171.4 5.7 25FL544190005Totalliabilities 169.1 2 388.4 3147.3 142.4 24FL543093005Other 3029.8 169.0 4.7 391.4 23FL543095105Otherreserves 2874.4 94.7 164.4 22FL543077073Deferredandunpaidlifeins.premiums 384.6 3171.4 3.3 21FL543092473EquityinFHLB 105.8 375.4 2710.9 20FL543090005Miscellaneousassets 2735.0 96.2 6.3 388.4 19LM543092073U.S.directinvestmentabroad 2583.3 364.9 18FL543050005Pensionentitlements 89.3 2.2 17FL543040005Lifeinsurancereserves 386.6 16FL543070005Tradereceivables 94.7 2.0 372.8 15LM543064205Mutualfundshares 90.7 14LM543064105Corporateequities 2.5 91.1 13FL543065005Mortgages 12FL543069005Otherloansandadvances 73.5 11FL544023005Loans 10LM543063005Corporateandforeignbonds 9LM543062005Municipalsecurities 8LM543061705Agency-andGSE-backedsecurities 7LM543061105Treasurysecurities 6FL543069105Openmarketpaper 5LM544022005Debtsecurities 4FL542051075Securityrepurchaseagreements 3FL543034005Moneymarketfundshares 2FL543020005Checkabledepositsandcurrency 1FL544090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.116 LifeInsuranceCompanies(1) 92 (5) Liabilityforsecuritieslendingcollateral,includedinline38. (4) Includesreservesforaccidentandhealthpolicies,policydividendaccumulation,contract claims. (3) Equaltofundingagreement-backedsecurities(FABS)issuedbydomesticissuersofasset-backed securities. (2) Annuityreservesheldbylifeinsurancecompanies,excludingunallocatedcontractspension funds,whichareshownonline37. (1) Additionaldetailonthefinancialassetsandliabilitiesheldinlifeinsurer’sgeneralseparate accountsisavailableontablesL.116.gandL.116.s.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 86766. 14968. 32961. 42368. 38340 6338.3 6584.4 6472.3 6413.5 6322.9 6584.4 6114.9 6165.0 5816.7 33 1805.3 1721.6 1712.6 1671.5 30 1633.2 3276.7 29 2106.3 1721.6 3484.8 2122.4 1587.2 3410.5 2106.6 1610.3 3379.6 2085.9 1539.6 3318.9 2067.9 3484.8 25 7713.7 2122.4 3178.5 7841.3 2035.2 3221.9 7705.6 2008.8 3003.6 7595.6 1925.9 7470.6 7841.3 7228.8 7272.4 6827.6 15 1307.5 1599.4 1533.7 1551.1 1527.6 1599.4 1402.7 1572.3 1439.5 5 3979.3 4018.9 3995.9 3859.4 1 3685.2 8292.2 4018.9 8507.5 3502.6 8387.8 3585.8 8194.9 3407.3 7937.1 8507.5 7566.4 7747.3 7247.5 2. 2. 0. 5. 0. 3. 6. 5. 7. 38 470.9 36 352.0 427.5 365.3 426.6 332.4 419.6 309.7 416.7 352.0 413.7 302.7 426.6 28 324.3 408.7 224.5 322.5 382.4 200.1 364.8 202.6 194.9 24 189.4 632.6 200.1 530.8 186.3 20 549.6 755.3 171.2 526.0 650.2 133.7 512.5 17 667.4 262.3 530.8 642.0 257.1 521.3 628.6 14 256.4 480.2 545.6 650.2 253.3 502.6 13 644.2 635.3 628.7 251.7 11 610.6 587.3 619.2 799.8 257.1 605.8 603.6 605.4 784.7 9 250.4 586.7 590.4 212.0 774.2 286.6 7 644.2 581.6 215.0 757.4 243.6 252.4 537.8 619.2 210.7 750.3 215.3 622.8 568.1 204.8 784.7 214.3 554.8 506.7 198.4 737.2 206.4 465.5 215.0 675.7 203.6 190.0 629.9 215.3 197.8 203.7 185.2 228.3 219.3 784. 264. 524. 544. 6439 46.4 44.7 45.4 45.2 45.2 44.7 42.6 49.0 47.8 23 77.6 77.6 76.2 75.5 18 74.9 207.8 77.6 16 199.5 124.9 198.2 74.3 107.7 195.2 69.8 110.8 193.2 105.9 65.9 199.5 102.5 191.4 107.7 6 91.4 27.8 101.5 83.5 102.2 28.8 3 91.1 92.2 32.2 58.6 33.8 62.0 33.4 56.6 28.8 52.0 33.1 58.6 38.1 55.0 46.6 48.2 44.6 . 047579817270791. 31 10.4 7.9 7.0 7.2 8.1 7.9 21 6.0 7.5 5.2 10.4 5.0 8.4 4.7 4.7 5.2 4.7 4.2 3.8 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

8 L53903 Frindrc neteti ..16413618918317411219418315628 155.6 198.3 23 22 107.7 27.1 159.4 88.7 17.5 151.2 19 86.1 147.4 20.8 65.3 198.3 82.2 23.2 86.2 128.9 82.2 23.5 66.9 153.6 88.7 17.5 126.4 67.4 81.1 24.1 66.8 74.8 21.4 86.2 12 68.3 171.1 21.6 59.8 165.5 81.9 4 167.6 29FL543190075Miscellaneousliabilities 9.8 64.8 164.5 28LM543192073ForeigndirectinvestmentinU.S. 27FL543178075Taxespayable 165.1 6.3 10 8 26FL543150075Pensionentitlements(1) 2789.2 165.5 25FL543140075Lifeinsurancereserves 301.9 2886.2 5.7 24FL543170075Tradepayables 2 164.4 289.8 2855.1 113.1 23FL543169373Loans(otherloansandadvances) 2755.1 164.2 4.7 288.7 67.6 22FL542151073Securityrepurchaseagreements 2616.5 159.5 286.4 2886.2 3.3 75.7 21FL544190075Totalliabilities 281.6 2468.8 2487.9 65.7 20FL543090075Miscellaneousassets 6.3 289.8 19LM543092073U.S.directinvestmentabroad 2354.0 275.2 18FL543050075Pensionentitlements 58.3 2.2 17FL543040075Lifeinsurancereserves 292.9 16FL543070075Tradereceivables 67.6 2.0 280.2 15LM543064275Mutualfundshares 59.4 14LM543064175Corporateequities 2.5 63.1 13FL543065075Mortgages 12FL543069075Otherloansandadvances 56.1 11FL544023075Loans 10LM543063075Corporateandforeignbonds 9LM543062075Municipalsecurities 8LM543061775Agency-andGSE-backedsecurities 7LM543061175Treasurysecurities 6FL543069175Openmarketpaper 5LM544022075Debtsecurities 4FL542051075Securityrepurchaseagreements 3FL543034075Moneymarketfundshares 2FL543020075Checkabledepositsandcurrency 1FL544090075Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.116.g LifeInsuranceCompanies:GeneralAccounts M4038 oprt n oeg od 2. 4. 4. 8. 5. 7. 9. 8. 9. 9 299.6 7 105.2 285.3 98.5 292.3 2 (1) Annuityreservesheldbylifeinsurancecompanies, excludingunallocatedcontractsheldbyprivatepensionfundswhichareincludedin miscellaneous liabilities(line23). 274.7 29.3 102.7 23FL543190085Miscellaneousliabilities 257.9 98.2 27.1 22LM543150085Pensionentitlements (1) 285.3 21LM543140085Lifeinsurancereserves 93.8 30.1 20FL543170085Tradepayables 242.0 98.5 30.6 19FL544190085Totalliabilities 247.1 89.7 229.3 18FL543090085Miscellaneousassets 30.9 17FL543050085Pensionentitlements 93.8 16FL543040085Lifeinsurancereserves 27.1 15FL543070085Tradereceivables 92.6 31.3 14LM543064385Mutualfundshares 13LM543064185Corporateequities 28.0 12FL543065083Mortgages 17.4 11FL543069483Otherloansandadvances 10FL544023085Loans 9LM543063085Corporateandforeignbonds 8LM543062083Municipalsecurities 7LM543061783Agency-andGSE-backedsecurities 6LM543061183Treasurysecurities 5FL543069183Openmarketpaper 4LM544022085Debtsecurities 3FL543034385Moneymarketfundshares 2FL543020083Checkabledepositsandcurrency 1FL544090085Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.116.s LifeInsuranceCompanies:SeparateAccounts (1) Annuityreservesheldbylifeinsurancecompanies,excludingunallocatedcontractsprivatepensionfundswhichareincludedinmiscellaneousliabilities(line29). 0621 0821 2019 2019 2018 2017 2016 25416. 27518. 34513. 34718. 57729 1517.7 1386.1 1384.7 26 1339.6 1471.8 25 1304.5 1779.1 1402.3 1386.1 1744.3 1398.8 1277.5 1739.6 1375.6 1262.5 1718.3 1362.6 1205.4 1707.1 1402.3 21 5292.8 1744.3 1363.2 5044.0 1698.6 1211.7 4997.9 1656.7 1180.8 4891.0 1592.4 4823.7 5044.0 4766.2 4562.2 4336.9 5 3502.1 3565.8 3527.7 3415.4 1 3264.5 5885.2 3565.8 5725.6 3104.0 5696.5 3170.0 5506.6 3006.4 5306.0 5725.6 5118.4 5048.7 4776.8 82821. 85328. 96320. 01728. 84922 1804.9 2082.6 2011.7 19 2004.0 2420.8 1956.3 2797.3 2082.6 2707.8 1815.3 2704.7 2010.2 2646.9 1822.8 2797.3 14 1300.9 2462.6 1591.3 2710.2 1525.3 2490.6 1543.0 1519.8 1591.3 1396.0 1565.1 1433.0 1 2407.1 2781.9 2691.3 2688.3 2631.1 2781.9 2447.9 2698.6 2470.7 3. 7. 8. 9. 8. 9. 0. 9. 2. 24 223.4 198.9 201.5 193.7 20 188.3 673.9 198.9 546.6 17 185.3 262.3 578.2 171.2 257.1 545.8 133.7 256.4 525.3 253.3 13 546.6 590.6 251.7 525.2 11 582.2 761.7 257.1 477.0 567.7 747.7 9 250.4 503.7 555.1 199.9 735.2 286.6 7 548.5 204.1 719.6 190.7 252.4 582.2 199.7 713.7 165.3 537.2 194.7 747.7 161.2 481.6 189.2 701.7 154.8 442.1 204.1 645.9 153.4 181.7 601.6 165.3 189.0 154.8 175.6 174.6 167.1 3. 4. 0. 3. 2. 3. 2. 3. 8. 23 287.6 21 335.5 327.2 327.9 378.1 331.9 367.0 328.7 367.6 335.5 360.8 309.6 378.1 347.8 336.6 13 442.9 334.2 352.1 541.4 333.6 510.7 507.8 491.5 541.4 4 445.2 477.1 526.9 453.1 466.2 468.2 444.0 420.6 453.1 398.6 415.7 400.9 359. 8. 9. 9. 9. 9. 9. 0. 18 205.0 16 196.3 124.9 14 195.1 102.7 107.7 192.0 102.8 110.8 190.1 99.9 105.8 196.3 97.9 102.5 188.5 107.7 95.1 6 91.3 20.4 101.4 102.8 83.5 102.2 20.4 92.6 3 91.1 57.8 22.9 96.0 33.3 24.4 88.7 36.4 23.8 30.8 20.4 26.7 23.5 33.3 25.6 26.6 29.5 25.4 19.6 991031011361339. 921368. 18 81.4 103.6 89.2 12 96.2 38.1 10 103.3 38.1 36.9 103.6 5 36.9 37.7 7.3 110.1 6 39.0 35.3 110.3 52.9 8.3 37.8 33.0 99.9 50.0 3 9.3 36.6 36.9 34.5 53.1 36.9 30.9 9.4 25.2 51.7 35.5 25.0 9.6 25.6 50.2 29.8 23.3 25.8 50.0 8.3 28.2 25.3 48.8 9.7 25.2 53.7 12.4 28.4 52.2 17.1 22.8 25.0 . 047579817270791. 27 10.4 7.9 7.0 7.2 8.1 7.9 15 7.5 6.6 10.4 8.0 8.4 8.4 8.2 7.8 8.0 6.8 7.3 6.5 ...... 20 1.1 1.2 17 1.1 2.8 16 0.0 15 0.0 1.1 3.2 0.0 0.0 1.1 3.1 0.0 0.0 11 1.2 3.1 0.0 0.0 0.0 1.1 3.1 0.0 0.0 0.0 0.0 3.2 8 1.3 0.0 12.1 0.0 0.0 2.8 2.5 0.0 11.0 0.0 0.1 3.6 11.0 0.0 0.0 0.1 10.0 0.0 0.0 0.0 9.2 4.6 11.0 4.8 8.3 4.9 8.8 9.7 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 93 2020

Levels Levels 8 F54905 eie otiuinpas66. 55377. 67970. 11688. 67970. 28 7504.7 8607.9 30 ND 8186.2 29 8131.6 ND 2771.8 26 7903.0 ND 2725.5 8607.9 11025.0 2700.6 10475.0 7271.4 38317.3 10350.0 2651.9 37202.4 7565.3 10050.0 2771.8 36901.8 11025.0 6562.4 36227.6 9250.0 2537.5 38317.3 9439.0 2574.9 34584.2 34735.2 8015.0 2400.6 31785.9 18 809.2 845.1 22 20 23509.9 6943.8 24520.5 831.9 5762.3 24001.9 23851.3 827.9 30FL543150015Annuitiesatlifeinsurancecompanies(10) 6120.1 23525.8 29LM893131573Individualretirementplans(IRAs)(9) 6172.8 24520.5 815.5 5 28FL594090055Definedcontributionplans 22796.7 6212.8 8.5 27FL594190045Definedbenefitplans 22721.3 845.1 5762.3 21370.3 26FL153050015Householdretirementassets(8) 785.3 6535.9 8.1 11 25FL593073045Unfunded(line18) 9 5987.8 1443.8 805.3 24FL592000075Fundedbyassets(7) 474.3 6497.7 1457.4 7.5 23FL594190045Pensionentitlements 768.4 4 417.4 1444.0 Fundedstatusofdefinedbenefitplans: 256.1 2 1382.2 7.7 414.9 70.6 Memo: 231.0 1330.4 411.6 1457.4 8.0 223.6 58.4 22FL594190005Pensionentitlements(liabilities)(6) 397.9 1264.1 224.3 54.5 1316.7 21FL593093005Other 8.1 417.4 20FL593073005Claimsofpensionfundonsponsor(5) 227.8 1248.7 378.2 54.6 19FL573074005Contributionsreceivable 7.6 231.0 18FL593095005Unallocatedinsurancecontracts(4) 312.4 17FL593090005Miscellaneousassets 56.2 223.1 7.6 1 277.2 221.0 16LM593064205Mutualfundshares 58.4 23388.8 15LM593064105Corporateequities 24403.8 7.5 223.4 23887.9 53.8 23737.9 14FL593065005Mortgages 23414.6 13FL313169003Otherloansandadvances 53.0 24403.8 12FL594023005Loans 22689.9 22599.8 58.6 21223.0 11LM593063005Corporateandforeignbonds 10LM593062045Municipalsecurities 9LM593061705Agency-andGSE-backedsecurities 8LM593061105Treasurysecurities(3) 7FL593069105Openmarketpaper 6LM594022005Debtsecurities 5FL592051005Securityrepurchaseagreements 4FL593034005Moneymarketfundshares 3FL593030005Timeandsavingsdeposits 2FL593020005Checkabledepositsandcurrency 1FL594090005Totalfinancialassets(2) Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.117 PrivateandPublicPensionFunds(1) 94 (10) AnnuitiesheldinIRAsareexcluded.Theyincludedline29. (9) IRAassetsarenotincludedabove.SeememoitemsontableL.227forasectoraldistributionofaccounts. (8) Households’retirementassetsintax-deferredaccounts,includingemployersponsoredpensionplans,IRAs,Rothandannuities. (7) Totaldefinedbenefitfinancialassetsplusnonfinanciallessclaimsofpensionfundonsponsor. (6) Actuarialvalueofaccruedpensionentitlementsindefinedbenefitplansandassetscontributionplans.Theseliabilitiesarethehouseholdsector. (5) Unfundeddefinedbenefitpensionentitlements.Negativevaluesindicateoverfunding. (4) Includesproductssoldbylifeinsurancecompanies,suchasvariableannuitiesandguaranteedinvestmentcontracts;seriesbegins1985:Q4. (3) Includesbothmarketableandnonmarketablegovernmentsecurities. (2) Includesclaimsonsponsor(i.e.,unfundedpensionentitlements). (1) Privatepensionfunds,stateandlocalgovernmentemployeeretirementfederalfundsdefinedbenefitplanscontributionplans.

Z.1, June11,2020 40. 55. 52. 51. 52. 51. 51. 51. 60. 27 16005.2 15912.6 15815.7 15719.7 15622.8 15912.6 23 15525.3 16005.2 15156.1 15912.6 14808.0 15815.7 15719.7 15622.8 15912.6 15525.3 15156.1 14808.0 0621 0821 2019 2019 2018 2017 2016 47758. 55956. 22867. 10156. 93825 6943.8 24 5762.3 9061.4 6120.1 10150.3 6172.8 9695.6 6212.8 9546.8 5762.3 9410.0 6535.9 10150.3 8989.5 5987.8 9168.3 6497.7 8310.2 17 9004.6 16 7872.9 4008.6 15 8177.7 4805.1 4858.6 8215.1 6292.0 4581.2 8221.6 5875.5 4613.1 7872.9 5868.3 4478.7 8492.4 5689.7 4858.6 7883.5 6292.0 4083.4 8219.3 5188.1 4368.0 8 5744.0 3769.8 3111.6 6 4912.2 3001.6 5131.1 2901.8 4982.9 2561.2 4860.7 2602.7 4456.1 3001.6 4435.7 2818.0 4982.9 2370.4 4561.5 2337.3 4099.9 3961.2 0. 1. 3. 4. 3. 3. 4. 4. 5. 19 150.1 21 1101.4 142.1 1123.4 140.0 1085.7 1077.3 137.1 1058.3 135.0 1123.4 142.1 1039.7 971.3 131.5 853.1 119.3 100.1 683. 174. 284. 504. 7014 47.0 44.5 12 62.7 45.0 60.3 43.0 68.1 7 42.8 99.0 259.8 44.5 258.2 103.3 41.7 60.3 3 96.8 41.6 33.6 41.7 97.9 39.5 36.8 185.2 101.4 39.1 36.8 103.3 38.9 97.1 38.8 96.9 39.5 95.3 38.3 37.5 34.3 ...... 10 13 2.5 15.7 15.8 3.3 23.1 3.3 216.7 3.3 215.3 15.8 3.3 0.0 3.3 151.7 4.1 0.0 3.4 2.7 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

3 F54905 eie eei ln 7 42934. 44337. 49336. 49237. 49023 24 3479.0 6461.5 3474.1 7445.1 3469.2 7074.7 3464.2 7026.0 3459.3 6823.9 3474.1 7445.1 3454.3 6268.4 3447.4 6540.6 3432.9 5640.6 17 401.3 15 48.7 551.5 19 9977.1 585.2 156.4 10955.7 10580.4 576.7 181.0 5 10526.8 3.2 10319.7 572.6 10 262.5 10955.7 960.6 9759.3 564.5 48.7 24FL574090055Definedcontributionplans(8) 3.1 972.9 10024.6 23FL574090045Definedbenefitplans(7) 9 585.2 9110.1 465.3 Totalfinancialassets 961.4 297.2 3.1 546.3 4 294.6 928.5 259.1 22FL573073005Unfunded(line17) 565.0 173.4 2 21FL572000075Fundedbyassets(6) 582.3 3.1 885.8 256.1 30.4 20FL574190043Pensionentitlements 546.5 164.7 Fundedstatusofdefinedbenefitplans: 972.9 247.4 3.1 164.2 26.1 835.4 237.8 Memo: 163.2 25.7 3.1 803.8 259.1 19FL574190005Pensionentitlements(liabilities)(5) 162.7 720.3 225.3 24.9 3.0 164.7 18FL573093005Other 1 193.6 17FL573073005Claimsofpensionfundonsponsor(4) 24.4 162.1 9940.5 16FL573074005Contributionsreceivable 2.9 168.1 10919.2 158.9 15FL573095005Unallocatedinsurancecontracts(3) 26.1 10543.8 14FL573090005Miscellaneousassets 2.6 10490.3 158.3 24.1 10283.1 13LM573064205Mutualfundshares 10919.2 9722.7 12LM573064105Corporateequities 21.8 9988.0 11FL573065005Loans(mortgages) 17.1 9073.4 10LM573063005Corporateandforeignbonds 9LM573061705Agency-andGSE-backedsecurities 8LM573061105Treasurysecurities 7FL573069105Openmarketpaper 6LM574022005Debtsecurities 5FL572051005Securityrepurchaseagreements 4FL573034005Moneymarketfundshares 3FL573030005Timeandsavingsdeposits 2FL573020005Checkabledepositsandcurrency 1FL574090005Totalfinancialassets(2) Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.118 PrivatePensionFunds(1) (8) AdditionaldetailondefinedcontributionplansisavailabletableL.118.c. (7) AdditionaldetailondefinedbenefitplansisavailabletablesL.118.b. (6) Totaldefinedbenefitfinancialassetsplusnonfinanciallessclaimsofpensionfundonsponsor. (5) Actuarialvalueofaccruedpensionentitlementsindefinedbenefitplansandassetscontributionplans.Theseliabilitiesarethehouseholdsector. (4) Unfundeddefinedbenefitpensionentitlements.Negativevaluesindicateoverfunding. (3) Includesproductssoldbylifeinsurancecompanies,suchasvariableannuitiesandguaranteedinvestmentcontracts;seriesbegins1985:Q4. (2) Includesclaimsonsponsor(i.e.,unfundedpensionentitlements). (1) Privatedefinedbenefitplansandcontribution(including401(k)typeplans). 0621 0821 2019 2019 2018 2017 2016 87238. 05636. 23431. 39336. 14221 3114.2 20 3515.6 3461.9 3510.6 3349.3 3505.7 3319.7 3500.8 3233.4 3495.8 3461.9 3510.6 3025.6 3490.9 3189.3 3484.0 2887.2 3469.5 14 1987.6 13 1666.1 3557.0 12 1750.8 2279.1 4306.0 1748.2 2939.0 4079.6 1808.4 2719.8 4094.9 1666.1 2719.8 3976.6 1978.6 2647.5 4306.0 1751.9 2939.0 3614.3 6 1927.5 2364.2 3886.7 1837.3 2713.0 3352.8 1745.7 2329.9 1732.9 1669.3 1594.2 1745.7 1511.0 1391.2 1231.6 8. 9. 6. 872251101644. 0. 22 401.3 48.7 156.4 181.0 262.5 48.7 18 884.6 465.3 16 890.0 150.1 294.6 877.7 142.1 582.3 857.6 140.0 846.4 137.1 890.0 135.0 835.6 142.1 773.0 8 131.5 537.7 698.6 119.3 468.2 100.1 470.1 448.4 425.9 468.2 406.0 350.9 304.1 222. 923. 973. 093. 3411 33.4 31.4 7 30.9 41.9 30.1 45.6 29.7 45.3 3 31.4 39.1 45.0 29.2 37.1 44.8 26.7 36.9 45.6 22.2 36.7 44.3 36.5 42.9 37.1 39.1 36.1 35.0 31.4 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 95 2020

Levels Levels 5 F53945 nloae nuac otat 2 606. 886. 206. 326. 9215 59.2 17 19 401.3 65.0 3515.6 48.7 3510.6 63.2 3505.7 156.4 3500.8 63.0 181.0 3495.8 5 62.0 3.2 3510.6 10 262.5 678.7 3490.9 65.0 48.7 3484.0 3.1 704.0 Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted 2 9 3469.5 58.8 465.3 700.5 L.118.c PrivatePensionFunds:DefinedContributionPlans(1) 9.7 178.2 3.1 294.6 62.2 684.6 163.7 9.6 582.3 3.1 656.0 162.4 56.0 (4) Actuarialvalueofaccrueddefinedbenefitpensionentitlements. (3) Unfundeddefinedbenefitpensionentitlements.Negativevaluesindicateoverfunding. 704.0 9.6 158.2 3.1 (2) Includesproductssoldbylifeinsurancecompanies,suchasvariableannuitiesandguaranteedinvestmentcontracts;seriesbegins1985:Q4. 619.7 151.8 (1) Includesclaimsonsponsor(i.e.,unfundedpensionentitlements). 9.7 3.1 611.8 163.7 19FL574190043Pensionentitlements(liabilities)(4) 1 548.7 9.7 142.0 3.0 3479.0 18FL573093043Other 120.6 3474.1 17FL573073005Claimsofpensionfundonsponsor(3) 9.6 16FL573074043Contributionsreceivable 2.9 3469.2 101.3 15FL573095405Unallocatedinsurancecontracts(2) 3464.2 9.7 14FL573090045Miscellaneousassets 2.6 3459.3 3474.1 13LM573064243Mutualfundshares 9.8 3454.3 12LM573064143Corporateequities 3447.4 9.6 11FL573065043Loans(mortgages) 3432.9 10LM573063043Corporateandforeignbonds 9LM573061743Agency-andGSE-backedsecurities 8LM573061143Treasurysecurities 7FL573069143Openmarketpaper 6LM574022045Debtsecurities 5FL572051043Securityrepurchaseagreements 4FL573034043Moneymarketfundshares 3FL573030043Timeandsavingsdeposits 2FL573020043Checkabledepositsandcurrency 1FL574090045Totalfinancialassets(1) Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.118.b PrivatePensionFunds:DefinedBenefitPlans 96 8 F54905 eso nilmns(iblte)54. 50666. 45162. 06077. 45166. 18 6461.5 15 7445.1 492.3 7074.7 520.2 7026.0 513.5 6823.9 5 7445.1 9 0.0 509.5 10 281.9 6268.4 119.0 502.5 6540.6 0.0 268.8 95.4 520.2 5640.6 260.9 93.7 0.0 487.5 4 243.9 2 502.8 132.0 89.3 0.0 229.8 20.8 490.4 125.2 85.9 268.8 16.5 0.0 124.9 215.7 95.4 (2) Includesproductssoldbylifeinsurancecompanies,suchasvariableannuitiesandguaranteed investmentcontracts;seriesbegins1985:Q4. 124.2 16.0 (1) Includes401(k)and403(b)typeplans. 0.0 191.9 83.3 123.8 15.2 171.6 18FL574090055Pensionentitlements(liabilities) 0.0 125.2 73.1 14.8 17FL573093055Other 123.7 66.8 16FL573074033Contributionsreceivable 0.0 16.5 121.5 15FL573095505Unallocatedinsurancecontracts(2) 14FL573090055Miscellaneousassets 0.0 125.4 14.4 13LM573064255Mutualfundshares 12.0 12LM573064133Corporateequities 7.5 11FL573065033Loans(mortgages) 10LM573063033Corporateandforeignbonds 9LM573061733Agency-andGSE-backedsecurities 8LM573061133Treasurysecurities 7FL573069133Openmarketpaper 6LM574022035Debtsecurities 5FL572051033Securityrepurchaseagreements 4FL573034055Moneymarketfundshares 3FL573030033Timeandsavingsdeposits 2FL573020033Checkabledepositsandcurrency 1FL574090055Totalfinancialassets

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 02677291055077269668355084814 874.8 535.0 638.3 659.6 12 931.8 737.2 1215.0 535.0 1128.2 931.0 1132.6 1109.6 747.2 1215.0 1002.6 1002.9 1210.9 1099.1 97737. 24238. 57038. 64338. 20813 3210.8 12 1347.3 3882.1 1724.0 3674.3 1591.6 3686.7 1587.2 3577.0 1537.9 3882.1 1724.0 3244.2 1361.3 3475.2 1502.1 2967.7 1230.8 1 6461.5 7445.1 7074.7 7026.0 6823.9 7445.1 6268.4 6540.6 5640.6 9. 0. 1. 2. 1. 1. 2. 2. 1. 18 310.5 322.2 321.0 319.4 13 346.2 318.0 423.9 322.2 405.2 315.1 408.2 307.0 8 399.6 330.4 298.1 423.9 294.4 370.1 297.1 6 411.5 1220.1 284.3 1198.1 385.1 268.9 1195.8 294.4 1162.7 1112.1 253.9 1198.1 214.3 1050.6 179.5 980.7 859.4 0. 6. 2. 6. 2. 3. 5. 6. 7. 17 574.1 567.8 556.7 538.2 14 1112.8 528.4 1131.0 567.8 1112.4 520.4 1088.7 8 1071.2 466.0 207.2 1131.0 6 400.5 173.7 1047.6 617.2 1004.7 172.9 547.6 924.9 164.1 537.2 157.0 506.6 173.7 482.1 152.1 547.6 136.6 460.4 124.6 410.5 372.1 618. 189. 489. 789. 0. 16 103.8 99.1 97.8 96.1 11 17.3 94.8 16.9 99.1 7 16.9 32.7 91.8 16.7 35.9 83.3 4 16.6 41.4 35.8 66.1 3 16.9 34.6 39.4 35.6 16.4 33.0 39.2 35.4 15.8 32.8 39.0 35.9 14.1 32.6 38.8 35.0 32.5 39.4 34.0 33.0 38.4 30.0 32.2 37.3 31.2 32.9 27.5 403. 974. 034. 234. 6316 46.3 43.0 42.3 41.0 40.3 43.0 39.7 35.9 34.0 . 081. 451. 341. 451. 11 16.2 7 9.2 14.5 14.1 9.7 13.4 3 9.6 4.5 13.1 9.4 4.1 14.5 9.4 12.8 4.1 9.7 10.8 4.0 8.1 9.3 4.0 8.9 4.1 9.1 4.0 3.8 3.9 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

6 F34905 eie otiuinpas()45457458964360867563664359716 579.7 654.3 15 3510.1 623.6 3495.5 617.5 3476.6 600.8 3458.6 3439.7 654.3 3495.5 558.9 3420.2 557.4 3348.9 3296.6 495.4 7 8 14.2 (8) AdditionaldetailondefinedcontributionplansisavailabletableL.119.c. 15.7 11 5 (7) AdditionaldetailondefinedbenefitplansisavailabletableL.119.b. 4089.9 16.1 2 (6) Totaldefinedbenefitfinancialassetslessclaimsofpensionfundonsponsor. 10.3 15.8 4149.8 0.6 (5) Actuarialvalueofprojectedpensionentitlementsindefinedbenefitplansandassetscontributionplans.Theseliabilitiesarethehouseholdsector. 15.8 4100.2 (4) Unfundeddefinedbenefitpensionentitlements.Negativevaluesindicateoverfunding. 10.7 23.1 4076.1 0.6 (3) SuspendedinvestmentsintheThriftSavingsPlanGFundbyTreasury. 15.1 4040.5 (2) ComprisedprimarilyofnonmarketableTreasurysecurities. 10.6 216.7 (1) Includesclaimsonsponsor(i.e.,unfundedpensionentitlements). 4149.8 14.3 0.7 10 215.3 10.1 1614.6 3979.1 16FL344090055Definedcontributionplans(8) 16.1 15.8 1585.9 3906.3 0.7 9.6 15FL344090045Definedbenefitplans(7) 1663.6 3791.9 Totalfinancialassets 13.4 0.0 1 1778.9 0.7 10.7 4089.9 1683.3 14FL343073045Unfunded(line10) 14.2 151.7 4149.8 13FL342000075Fundedbyassets(6) 1585.9 9.2 0.6 12FL344090045Pensionentitlements 4100.2 13.5 1624.4 0.0 Fundedstatusofdefinedbenefitplans: 4076.1 1675.7 9.3 0.8 4040.5 1693.7 Memo: 4149.8 8.7 1.0 3979.1 11FL344090005Pensionentitlements(liabilities)(5) 3906.3 0.8 10FL343073045Claimsofpensionfundonsponsor(misc.assets)(4) 3791.9 9LM343064105Corporateequities 8FL313169003Loans(otherloansandadvances)(3) 7LM343063005Corporateandforeignbonds 6LM343062033Municipalsecurities 5LM343061705Agency-andGSE-backedsecurities 4LM343061105Treasurysecurities(2) 3LM344022005Debtsecurities 2FL343020033Checkabledepositsandcurrency 1FL344090005Totalfinancialassets(1) Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.119 FederalGovernmentEmployeeRetirementFunds 0621 0821 2019 2019 2018 2017 2016 63717. 64418. 63317. 63618. 64614 1614.6 13 1895.5 12 1585.9 3510.1 1909.6 1663.6 3495.5 1813.0 1778.9 3476.6 1679.6 1683.3 3458.6 1756.4 1585.9 3439.7 1909.6 1624.4 3495.5 1795.8 1675.7 3420.2 1673.2 1693.7 3348.9 1602.9 3296.6 4 3 2156.6 2181.1 2150.2 2177.0 2047.1 2073.4 1713.1 1738.4 1786.2 1810.1 2150.2 2177.0 2039.2 2061.9 1730.1 1753.7 1814.4 1836.6 6. 2. 9. 7. 3. 4. 3. 7. 7. 9 277.9 370.5 339.4 341.4 331.0 370.5 292.1 324.2 260.8 ...... 6 0.0 0.1 0.0 0.1 0.1 0.1 0.0 0.1 0.1 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 97 2020

Levels Levels L4005 Pninetteet laiiis 9. 5. 5. 5. 0. 1. 2. 5. 7. 8 5 4 579.7 10.2 6 9.4 654.3 15.7 11.4 623.6 9.6 15.8 11.3 617.5 9.5 23.1 10.7 600.8 216.7 654.3 10.0 9.1 215.3 558.9 11.4 8.6 15.8 557.4 9.3 495.4 9.6 0.0 9.5 8.3 151.7 8.8 0.0 8.5 7.8 7 3.9 8FL344090055Pensionentitlements(liabilities) 7LM343064125Corporateequities 4.7 5 6FL313169003Loans(otherloansandadvances)(3) 0.9 4.5 2 5LM343063023Corporateandforeignbonds 10 0.6 1.1 4LM343061723Agency-andGSE-backedsecurities 3510.1 4.4 3LM343061155Treasurysecurities(2) 3495.5 2LM344022025Debtsecurities 0.6 1.0 3476.6 4.3 3458.6 1FL344090055Totalfinancialassets 0.7 1.0 3439.7 4.7 9 3495.5 Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted 0.7 1.0 1614.6 3420.2 4.1 L.119.c FederalGovernmentEmployeeRetirementFunds:DefinedContributionPlans(1) 1585.9 3348.9 1 0.7 1.1 1663.6 3296.6 4.6 3510.1 1778.9 3495.5 0.6 0.9 (5) Actuarialvalueofaccruedpensionentitlementsindefinedbenefitplans.Theseliabilitiesareassetsthehouseholdsector. 1683.3 4.6 3476.6 (4) Unfundeddefinedbenefitpensionentitlements.Negativevaluesindicateoverfunding. 1585.9 3458.6 (3) ComprisedprimarilyofnonmarketableTreasurysecurities. 0.8 0.9 1624.4 3439.7 (2) Includesclaimsonsponsor(i.e.,unfundedpensionentitlements). 1675.7 3495.5 DisabilityFund,andtheNationalRailroadInvestmentTrust. 1.0 0.8 1693.7 (1) IncludesCivilServiceRetirementandDisabilityFund,RailroadBoard,judicialretirementfund,MilitaryForeign 3420.2 3348.9 0.8 10FL344190045Pensionentitlements(liabilities)(5) 3296.6 9FL343073045Claimsofpensionfundonsponsor(misc.assets)(4) 8LM343064135Corporateequities 7LM343063033Corporateandforeignbonds 6LM343062033Municipalsecurities 5LM343061733Agency-andGSE-backedsecurities 4LM343061165Treasurysecurities(3) 3LM344022045Debtsecurities 2FL343020033Checkabledepositsandcurrency 1FL344090045Totalfinancialassets(2) Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.119.b FederalGovernmentEmployeeRetirementFunds:DefinedBenefitPlans(1) 98 (3) SuspendedinvestmentsintheThriftSavingsPlanGFundbyTreasury. (2) IncludesnonmarketableTreasurysecuritiesheldintheGfundandmarketableFfund. (1) ThriftSavingsPlan.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 52615. 75818. 75515. 71918. 8714 3 1877.1 1882.0 1887.7 1893.5 1791.9 1797.5 1658.4 1663.9 1735.5 1740.9 1887.7 1893.5 1775.8 1780.9 1651.1 1656.7 1582.6 1588.2 4. 0. 7. 5. 1. 2. 2. 5. 6. 7 264.9 355.0 324.6 3 2 279.5 326.3 299.1 262.5 316.2 283.5 1 255.1 355.0 579.7 275.9 54.7 277.9 654.3 74.5 308.7 50.6 623.6 69.2 246.9 262.5 617.5 283.5 263.4 600.8 281.0 79.0 654.3 97.0 558.9 231.8 248.5 557.4 495.4 391. 411. 481. 491. 298 12.9 15.5 14.9 15.1 14.8 15.5 14.1 15.5 13.9 ...... 6 0.0 0.1 0.0 0.1 0.1 0.1 0.0 0.1 0.1 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

4 F24905 eie otiuinpas()46447244158548448148058543524 463.5 508.5 23 8894.9 488.0 8826.3 488.1 8755.9 478.4 8683.5 8612.7 508.5 8826.3 444.1 8544.0 467.2 8238.3 7931.2 426.4 19 16 9442.9 257.8 9414.9 260.0 9321.3 17 255.3 9248.4 4927.8 9165.6 5 255.3 4127.6 11 469.1 5.3 9414.9 4300.0 251.0 9058.3 4212.8 468.4 24FL224090055Definedcontributionplans(7) 260.0 8790.4 5.0 4267.0 23FL224090045Definedbenefitplans(6) 9 466.8 8468.4 239.0 4127.6 Totalfinancialassets 166.8 438.6 4.5 4446.2 240.2 147.7 22FL223073045Unfunded(line17) 4017.4 430.3 2 21FL222000075Fundedbyassets(5) 221.9 4.6 148.3 4221.7 39.5 20FL224190043Pensionentitlements 468.4 Fundedstatusofdefinedbenefitplans: 154.0 415.3 4.9 31.6 150.6 Memo: 498.8 28.2 5.0 147.7 514.9 19FL224190005Pensionentitlements(liabilities)(4) 1 143.7 29.0 4.6 9358.4 18FL223093005Other 109.5 9334.8 17FL223073045Claimsofpensionfundonsponsor(3) 31.0 16FL223095505Unallocatedinsurancecontracts(2) 4.7 9243.9 100.4 15FL223090005Miscellaneousassets 31.6 9171.5 4.9 9091.0 14LM223064205Mutualfundshares 28.9 9334.8 13LM223064145Corporateequities 8988.1 30.2 12FL223065043Loans(mortgages) 8705.5 40.6 8357.6 11LM223063045Corporateandforeignbonds 10LM223062043Municipalsecurities 9LM223061743Agency-andGSE-backedsecurities 8LM223061143Treasurysecurities 7FL223069143Openmarketpaper 6LM224022045Debtsecurities 5FL222051043Securityrepurchaseagreements 4FL223034005Moneymarketfundshares 3FL223030043Timeandsavingsdeposits 2FL223020043Checkabledepositsandcurrency 1FL224090005Totalfinancialassets(1) Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.120 StateandLocalGovernmentEmployeeRetirementFunds (7) AdditionaldetailondefinedcontributionplansisavailabletableL.120.c. (6) AdditionaldetailondefinedbenefitplansisavailabletableL.120.b. (5) Totaldefinedbenefitfinancialassetsplusnonfinanciallessclaimsofpensionfundonsponsor. (4) Actuarialvalueofprojectedpensionentitlements.Theseliabilitiesareassetsthehouseholdsector. (3) Unfundeddefinedbenefitpensionentitlements.Negativevaluesindicateoverfunding. (2) Includesproductssoldbylifeinsurancecompanies,suchasvariableannuitiesandguaranteedinvestmentcontracts. (1) Includesclaimsonsponsor(i.e.,unfundedpensionentitlements). 0621 0821 2019 2019 2018 2017 2016 21741. 46242. 27041. 30042. 97822 4927.8 21 4051.6 20 4127.6 8979.4 4778.8 4300.0 8906.4 4533.3 4212.8 8833.4 4547.5 4267.0 8760.3 4420.2 4127.6 8687.3 4778.8 4446.2 8906.4 4168.0 4017.4 8614.2 4305.8 4221.7 8323.2 3820.2 15 8041.9 5402.3 4621.0 13 4763.3 2248.1 4687.9 2982.5 4729.9 2816.3 4621.0 2807.1 4889.3 2711.1 4455.9 2982.5 4598.1 2531.8 2706.8 2321.5 5. 9. 0. 3. 1. 1. 0. 3. 1. 18 216.8 233.4 208.0 14 219.8 451.6 211.9 552.7 233.4 501.6 204.2 518.2 198.3 502.1 8 417.3 154.4 552.7 383.3 469.1 384.6 6 481.3 1112.7 399.6 417.1 1060.3 390.6 1054.4 1048.5 383.3 1031.4 372.8 1060.3 289.4 988.7 218.8 955.0 892.9 45691. 311. 291. 311. 12 13.5 13.1 14.1 7 12.9 57.1 13.1 57.7 4 13.1 82.8 51.4 12.5 66.3 52.9 6.9 59.5 56.6 61.1 57.7 14.5 65.1 52.8 66.3 54.0 61.0 56.2 62.1 65.1 ...... 10 2.4 3.2 3.2 3.2 3 2.5 3.2 2.4 3.2 2.1 4.1 2.2 3.4 2.3 2.6 2.4 2.2 2.5 2.9 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 99 2020

Levels Levels 8 F24903 eso nilmns(iblte)()84. 33281. 96488. 70383. 96487. 18 8979.4 8906.4 8833.4 16 8760.3 5 4927.8 11 8687.3 469.1 5.3 4127.6 8906.4 4300.0 468.4 8614.2 5.0 4212.8 9 466.8 8323.2 4267.0 166.8 8041.9 438.6 Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted 4.5 4127.6 147.7 L.120.c StateandLocalGovernmentEmployeeRetirementFunds:DefinedContributionPlans(1) 4446.2 430.3 2 4.6 4017.4 148.3 39.5 468.4 4221.7 154.0 415.3 4.9 (3) Actuarialvalueofaccrueddefinedbenefitpensionentitlements.Theseliabilitiesareassetsthehouseholdsector. 31.6 150.6 (2) Unfundeddefinedbenefitpensionentitlements.Negativevaluesindicateoverfunding. 498.8 (1) Includesclaimsonsponsor(i.e.,unfundedpensionentitlements). 28.2 5.0 147.7 514.9 1 143.7 29.0 18FL224190043Pensionentitlements(liabilities)(3) 4.6 8894.9 109.5 8826.3 17FL223093043Other 31.0 16FL223073045Claimsofpensionfundonsponsor(2) 4.7 8755.9 100.4 15FL223090045Miscellaneousassets 31.6 8683.5 4.9 8612.7 14LM223064243Mutualfundshares 28.9 8826.3 13LM223064145Corporateequities 8544.0 30.2 12FL223065043Loans(mortgages) 8238.3 40.6 7931.2 11LM223063045Corporateandforeignbonds 10LM223062043Municipalsecurities 9LM223061743Agency-andGSE-backedsecurities 8LM223061143Treasurysecurities 7FL223069143Openmarketpaper 6LM224022045Debtsecurities 5FL222051043Securityrepurchaseagreements 4FL223034043Moneymarketfundshares 3FL223030043Timeandsavingsdeposits 2FL223020043Checkabledepositsandcurrency 1FL224090045Totalfinancialassets(1) Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.120.b StateandLocalGovernmentEmployeeRetirementFunds:DefinedBenefitPlans 100 L2005 Pninetteet laiiis 2. 6. 4. 0. 7. 8. 8. 0. 6. 7 463.5 508.5 488.0 488.1 478.4 5 508.5 257.8 444.1 260.0 467.2 255.3 426.4 255.3 251.0 260.0 239.0 240.2 (2) Includesproductssoldbylifeinsurancecompanies,suchasvariableannuitiesandguaranteedinvestmentcontracts. 221.9 (1) Includes403(b)and457typeplans. 7FL224090055Pensionentitlements(liabilities) 6FL223093053Other 5FL223095505Unallocatedinsurancecontracts(misc.assets)(2) 4FL223090055Miscellaneousassets 3LM223064255Mutualfundshares 2FL223034055Moneymarketfundshares 1FL224090055Totalfinancialassets

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 39940. 63345. 41842. 50845. 17215 5137.2 4353.7 13 4500.8 2248.1 4425.4 2982.5 4471.8 2816.3 4353.7 2807.1 4643.3 2711.1 4208.9 2982.5 4369.9 2531.8 2706.8 2321.5 4. 9. 9. 2. 0. 1. 0. 2. 0. 17 209.4 226.1 14 200.7 256.9 212.6 314.4 204.8 279.2 226.1 295.7 197.1 284.8 8 191.5 417.3 314.4 148.2 383.3 274.1 384.6 6 264.0 1112.7 399.6 222.2 1060.3 390.6 1054.4 1048.5 383.3 1031.4 372.8 1060.3 289.4 988.7 218.8 955.0 892.9 2. 4. 4. 6. 5. 6. 6. 6. 6. 4 265.1 3 267.3 194.7 262.5 238.2 1 262.5 222.4 463.5 258.1 222.5 508.5 267.3 217.3 488.0 246.1 238.2 488.1 247.0 195.0 478.4 228.2 217.3 508.5 194.8 444.1 467.2 426.4 45691. 311. 291. 311. 12 13.5 13.1 14.1 7 12.9 57.1 13.1 57.7 4 13.1 79.1 51.4 12.5 63.3 52.9 6.9 56.4 56.6 58.1 57.7 14.5 62.1 52.8 63.3 54.0 58.0 56.2 59.2 61.7 ...... 10 2.4 3.2 3.2 3.2 3 2.5 3.2 2.4 3.2 2.1 4.1 2.2 3.4 2.3 2.6 2.4 2.2 2.5 2.9 ...... 6 7.4 7.3 2 7.2 3.6 7.2 3.0 7.1 3.0 7.3 3.0 7.1 3.0 6.8 3.0 6.3 3.0 2.9 3.4 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

3 L64950 aibeaniymta ud nlddaoe13. 72819. 86313. 70913. 86317. 13 1479.3 9 1816.3 140.5 1738.5 1760.9 144.1 12 1734.3 14543.1 146.4 8 17659.5 1816.3 6 2236.8 16694.7 149.7 1590.7 584.7 16669.6 2287.6 2 16179.6 1792.8 155.4 654.0 2266.5 18LM654091203Municipalbondfunds 17659.5 103.0 1636.3 14669.8 17LM654091303Taxablebondfunds 144.1 2221.8 632.7 15899.0 102.8 16LM654091403Hybridfunds 2131.0 13615.6 163.3 15LM654092603Worldequityfunds 608.6 102.4 2287.6 14LM654091600Domesticequityfunds 173.7 584.6 2016.6 107.1 Totalfinancialassetsbyinvestmentobjective: 157.5 2037.6 654.0 105.1 13LM654090500Variableannuitymutualfundsincludedabove 1861.9 603.6 102.8 Memo: 600.0 81.7 12LM654090000Totalsharesoutstanding(liabilities) 594.9 98.0 11FL653093005Miscellaneousassets 11 84.1 13.8 10LM653064100Corporateequities 14 46.6 18.5 9FL653069803Loans(otherloansandadvances) 35.3 16.1 8LM653063005Corporateandforeignbonds 35.7 7LM653062003Municipalsecurities 11.7 6LM653061703Agency-andGSE-backedsecurities 13 35.7 5LM653061105Treasurysecurities 4338.0 8.7 4FL653069100Openmarketpaper 9 3634.3 3LM654022005Debtsecurities 35.1 931.1 3442.5 3 18.5 4 2FL652051003Securityrepurchaseagreements 3205.9 35.3 -25.8 755.1 239.4 3079.4 7.5 696.0 1LM654090000Totalfinancialassets 1.2 38.3 3634.3 258.8 5 676.3 3038.3 8.5 Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted 1468.4 255.8 32.2 -30.3 2848.4 655.7 1175.1 L.122 MutualFunds(1) 258.9 2731.3 3.2 35.9 6.6 1172.5 755.1 225.4 1133.1 644.9 -31.5 980.1 258.8 (1) Open-endinvestmentcompaniesincludingvariableannuitymoneymarketfunds. 682.2 1.2 1175.1 190.6 14FL634090503Variableannuitymoneymarketfundsincludedabove 680.4 1019.5 178.9 -43.7 956.5 Memo: 142.2 22.1 801.6 13FL634090005Totalsharesoutstanding(liabilities) 29.6 12FL633093005Miscellaneousassets 11FL633063005Corporateandforeignbonds 10FL633062000Municipalsecurities 9FL633061700Agency-andGSE-backedsecurities 8FL633061105Treasurysecurities 7FL633069175Openmarketpaper 6FL634022005Debtsecurities 5FL632051000Securityrepurchaseagreements 4FL633030000Timeandsavingsdeposits 3FL633020000Checkabledepositsandcurrency 2FL633091003Foreigndeposits 1FL634090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.121 MoneyMarketFunds(1) (1) Open-endinvestmentcompaniesincludingvariableannuitymutualfunds. 31. 59. 46. 75. 67. 66. 69. 75. 44. 1 14543.1 17659.5 16694.7 16669.6 16179.6 17659.5 14669.8 15899.0 13615.6 0621 0821 2019 2019 2018 2017 2016 04530. 35639. 51438. 71639. 64017 3644.0 16 1304.9 15 3890.2 2257.8 14 1579.0 3791.6 6563.1 2937.3 1516.7 3687.1 8438.9 2713.6 1514.2 3551.4 7887.7 2765.6 1488.5 3890.2 7951.5 2702.8 1579.0 3385.6 7718.8 2937.3 1384.0 3400.0 8438.9 2427.7 1547.0 3034.5 6800.1 2827.5 1399.9 7477.7 2165.8 6411.4 10 9244.9 11934.5 11073.5 11184.0 10880.2 11934.5 9657.5 3 4959.8 10819.6 9069.9 5186.3 5075.1 4914.9 4733.2 5186.3 4541.8 4514.5 4077.1 6 2568.7 2181.3 2029.8 1798.9 1895.1 1 2181.3 4338.0 1862.3 3634.3 1680.7 3442.5 1748.7 3205.9 3079.4 3634.3 3038.3 2848.4 2731.3 1. 6. 7. 1. 1. 5. 8. 1. 7. 18 773.3 814.1 785.8 753.9 719.5 814.1 675.5 665.3 11 94.9 613.7 291.8 297.3 313.9 7 305.7 802.1 291.8 831.0 225.7 805.2 5 293.1 773.4 1233.2 227.0 1310.9 737.2 1268.2 831.0 1204.1 693.6 1175.2 1310.9 688.1 1146.4 632.2 1090.8 904.1 10 130.7 134.0 7 8 225.4 1267.8 130.3 1036.5 237.2 135.8 945.6 241.9 135.0 743.5 231.7 134.0 879.5 216.3 142.8 1036.5 237.2 134.4 873.5 193.7 154.3 702.9 152.6 797.6 109.7 419. 171281511711241281304 103.0 102.8 102.4 107.1 105.1 102.8 81.7 98.0 84.1 . . . 0588961. 058. 12 83.5 10.5 10.7 9.6 8.8 2 3.8 10.5 7.4 8.1 3.9 6.6 2.2 7.3 1.5 7.4 1.5 3.7 1.9 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 101 2020

Levels Levels M6030 Croaeadfrinbns3964364055404074885755405785 8 517.8 3639.7 4396.2 544.0 4024.3 517.5 3933.4 488.8 3771.3 4396.2 460.7 3371.2 544.0 3401.0 14LM564091203Municipalbondfunds 420.5 13LM564091303Taxablebondfunds 2524.6 12LM564091403Hybridfunds 403.6 10 11LM563093003Commodityfunds(1) 45.0 10LM564092603Worldequityfunds 309.6 9LM564091600Domesticequityfunds 57.1 Totalfinancialassetsbyinvestmentobjective: 57.0 Memo: 57.4 8LM564090005Totalsharesoutstanding(liabilities) 56.3 7LM563093003Miscellaneousassets(1) 5 57.1 6LM563064100Corporateequities 59.4 52.9 7 5LM563063003Corporateandforeignbonds 75.1 230.2 4LM563062003Municipalsecurities 57.2 3LM563061103Treasurysecurities 278.6 74.2 2LM564022005Debtsecurities 54.8 274.2 74.7 1LM564090005Totalfinancialassets 272.9 73.2 268.6 Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted 75.1 278.6 L.124 Exchange-TradedFunds 252.2 69.1 277.3 74.3 264.8 12LM554092303Worldbondfunds 71.4 11LM554091203Municipalbondfunds 10LM554091303Domestictaxablebondfunds 9LM554092603Worldequityfunds 8LM554091603Domesticequityfunds Totalfinancialassetsbyinvestmentobjective: Memo: 7LM554090005Totalsharesoutstanding(liabilities) 6LM553064103Corporateequities 5LM553063003Corporateandforeignbonds 4LM553062003Municipalsecurities 3LM553061103Treasurysecurities 2LM554022005Debtsecurities 1LM554090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.123 Closed-EndFunds 102 (1) Investmentsprimarilyincommodities,currencies,andfutures.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 56717. 98628. 10628. 36328. 0579 2035.7 2583.5 2346.3 2284.3 2190.6 2583.5 1938.6 6 1978.3 2715.7 1526.7 3486.2 3150.6 3116.6 3010.9 1 3486.2 3639.7 2669.2 4396.2 2775.6 4024.3 2032.7 3933.4 3771.3 4396.2 3371.2 3401.0 2524.6 0. 2. 9. 6. 4. 9. 3. 6. 7. 13 771.5 764.8 10 664.2 733.4 883.9 693.6 787.0 644.7 816.3 764.8 805.2 595.7 883.9 522.9 725.4 402.5 792.4 502.8 2 830.0 825.0 789.6 745.4 692.7 825.0 636.1 556.5 429.1 6 78.3 107.2 103.0 2 103.6 151.9 1 101.9 171.4 230.2 107.2 171.1 278.6 91.2 169.3 274.2 109.3 166.7 272.9 101.8 171.4 268.6 161.0 278.6 168.0 252.2 163.0 277.3 264.8 483. 694. 884. 524. 9114 49.1 49.0 11 94.0 45.2 84.9 41.8 84.1 38.8 71.3 49.0 7 67.8 94.0 36.9 84.9 84.9 30.7 65.9 4 84.1 24.8 49.3 68.9 71.3 49.3 62.8 3 67.8 45.4 263.0 84.9 231.8 42.0 65.9 226.8 39.0 214.6 68.9 49.3 193.0 62.8 37.0 231.8 12 17.1 11 178.7 89.8 30.8 9 21.1 122.1 8 21.0 93.2 24.8 57.4 94.7 20.8 27.9 93.4 79.3 20.9 26.0 91.0 77.0 20.5 26.7 89.8 76.9 21.1 25.5 93.2 76.3 19.6 4 27.9 88.4 89.8 79.3 20.9 23.3 90.0 93.2 67.9 20.3 29.6 88.0 93.4 79.7 26.2 91.0 75.6 89.8 93.2 88.4 90.0 88.0 . . . 012. 612. 012. 12 25.2 30.1 28.3 26.1 24.2 30.1 8.7 7.8 5.0 3 2.7 3.2 3.5 3.7 3.6 3.2 3.5 3.7 3.6 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

1 F43623 on US oenetlas ...... 31 0.0 0.0 0.0 27 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28 0.0 7318.1 0.0 7002.2 0.0 6952.7 0.0 6901.8 0.0 6808.4 21 0.0 7002.2 340.7 6797.3 332.7 0.0 6716.3 322.0 6563.2 0.0 313.4 18 303.8 4809.9 4771.9 332.7 32FL403190005Miscellaneousliabilities 17 4710.9 12 5073.8 295.3 941.1 4658.8 10 31FL403169283Loans(U.S.governmentloans) 5023.2 14.3 264.2 4639.3 778.6 4978.3 30FL403161785Other 4771.9 223.6 787.3 15.5 4922.0 29FL403161795Consolidatedtrusts(2) 4620.8 28FL403161705Debtsecurities(GSEissues)(3) 4899.9 821.1 4461.8 16.2 5023.2 27FL402150005Federalfundsandsecurityrepos 4284.2 804.5 4883.9 16.9 778.6 8 4775.6 26FL404190005Totalliabilities 266.3 17.6 4644.8 861.9 25FL403093005Miscellaneousassets 2 268.2 857.7 15.5 4 142.0 24FL403066005Consumercredit 275.4 153.9 825.1 34.6 18.1 264.8 23FL403065605Farm 195.2 34.3 22FL403065485Other 24.1 261.9 187.1 21FL403065495Consolidatedtrusts(2) 36.4 20FL403065405Multifamilyresidential 268.2 41.1 208.9 19FL403065185Other 262.5 201.6 18FL403065195Consolidatedtrusts(2) 35.9 17FL403065105One-to-four-familyresidential 267.6 195.2 16FL403065005Mortgages 34.6 287.4 170.6 15FL403069330FHLB 36.8 195.6 14FL403069345FarmCreditSystem 13FL403069385SallieMae 49.4 185.0 12FL403069305Otherloansandadvances 48.8 11FL404023005Loans 10FL403063005Corporateandforeignbonds 9FL403062005Municipalsecurities 8FL403061705Agency-andGSE-backedsecurities 7FL403061105Treasurysecurities 6FL403069105Openmarketpaper 5FL404022005Debtsecurities 4FL402050005Federalfundsandsecurityrepos 3FL403030005Timeandsavingsdeposits 2FL403020005Checkabledepositsandcurrency 1FL404090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.125 Government-SponsoredEnterprises(GSEs)(1) L1050 Mliaiyrsdnilmrggs2562913213023933603773023303 6 383.0 2431.6 2407.3 380.2 2370.2 367.7 2341.5 356.0 2315.8 2 2407.3 349.3 2047.5 2292.6 380.2 2026.0 2126.8 2001.1 342.1 1933.0 1984.0 299.1 1965.1 245.6 2026.0 1949.1 (2) Suchissuesareclassifiedasagency-andGSE-backedsecurities. 1826.0 CMOsandprivatelyissuedCMOs.ExcludesFederalFinancingBankholdingsofpoolsecurities, whichareincludedwithfederalgovernmentmortgagesandotherloansadvances. onFannieMae’sandFreddieMac’sbalancesheets(tableF.125).Alsoincludesagency- GSE-backed mortgagepoolsecuritiesthatareusedascollateralforagency-and 1684.6 (1) GinnieMae,FannieFreddieMac,FarmerandFarmersHomeAdministrationpools. Beginning2010:Q1,almostallFannieMaeandFreddieMacmortgagepools(F.126)areconsolidated 6FL413065005Totalpoolsecurities(liabilities)(2) 5FL413065605Farmmortgages 4FL413065505Commercialmortgages 3FL413065405Multifamilyresidentialmortgages 2FL413065105One-to-four-familyresidentialmortgages 1FL413065005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.126 Agency-andGSE-BackedMortgagePools(1) (3) Suchissuesareclassifiedasagency-andGSE-backedsecurities. (2) ConsolidatedtrustsreferstotheunpaidbalanceofsecuritizedmortgagesFannieMaeandFreddieMacmovedontheirsheetsatbeginning2010inresponsenewaccounting rules. FreddieMac’sbalancesheets(L.125). (SallieMae)wasincludeduntilitfullyprivatizedin2004:Q4.Beginning2010:Q1,almostallFannieMaeandFreddieMacmortgagepools(L.126)areconsolidatedonMae’s (1) FederalHomeLoanBanks,FannieMae,FreddieMac,FarmerFarmCreditSystem,theFinancingCorporation,andResolutionFundingCorporation.TheStudentMarketingAssociation 0621 0821 2019 2019 2018 2017 2016 05419. 81219. 85312. 99819. 17530 2167.5 29 5150.6 1897.6 5104.6 1919.8 5032.9 1929.6 4972.1 1865.3 26 4943.1 7446.8 1897.6 5104.6 7116.5 1881.2 4916.1 7070.3 1990.2 4726.1 7015.0 2055.4 4507.7 6920.5 7116.5 6909.2 6826.7 6673.3 16 5567.1 5510.7 5460.5 5389.4 5356.6 5510.7 11 6508.2 5333.8 6289.3 5193.7 6247.8 5027.2 6210.6 6161.1 6289.3 6195.6 6051.4 5852.4 1 7448.1 7127.7 7071.5 7018.1 6930.4 7127.7 6925.5 6818.9 6685.4 93022. 22620. 35824. 30220. 4161 2431.6 2407.3 2370.2 2341.5 2315.8 2407.3 2292.6 2126.8 1933.0 1. 1. 1. 1. 1. 1. 1. 1. 2. 32 128.7 114.3 117.6 113.2 112.1 114.3 111.9 25 110.5 150.2 110.1 127.3 135.3 23 124.7 115.5 123.4 102.9 20 368.6 19 121.7 127.3 263.9 364.0 120.2 95.3 251.3 360.4 118.7 267.5 111.0 347.2 15 123.4 263.3 797.2 150.7 14 338.0 117.0 143.9 260.6 638.9 364.0 111.1 139.7 251.3 654.9 332.9 107.1 132.4 263.1 686.5 307.1 134.6 313.7 670.9 275.4 133.6 360.6 638.9 7 139.7 729.5 185.7 5 132.4 732.1 171.3 477.7 125.6 704.3 153.9 465.4 120.8 139.9 455.7 125.7 432.2 171.3 416.7 115.7 465.4 101.3 407.0 102.4 404.0 442.6 184. 753. 423. 843. 7922 27.9 31.4 38.4 33.8 34.2 31.4 37.5 42.8 51.8 ...... 24 0.0 0.0 0.0 0.0 0.0 13 0.0 0.0 0.0 0.0 0.0 9 0.0 3.2 0.0 0.0 6 3.3 8.2 0.0 3.3 7.1 0.0 3.6 6.9 3 0.0 3.8 16.0 6.9 0.0 15.8 3.3 7.6 0.0 11.3 3.9 7.1 14.6 4.6 6.9 12.2 5.8 15.8 6.4 20.2 5.9 7.6 5.9 ...... 5 4 1.1 0.0 1.1 0.0 1.4 0.0 1.5 0.0 1.5 0.0 1.1 0.0 1.5 0.0 1.7 0.0 2.7 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 103 2020

Levels Levels 7 F63605 oprt od nt 5 18318. 06712. 04317. 10412. 15917 1165.9 1127.0 1110.4 1072.6 (8) IncludedontableL.111line44. 13 1074.3 97.8 (7) IncludedontableL.129. 1127.0 Theleasedautomobileisanonfinancialasset. 91.9 (6) Receivablesfromoperatingleases,suchasconsumerautomobilearebookedcurrentincomewhenpaymentsreceivedandnotincludedinfinancialassets(orhouseholdliabilities). 1066.7 (5) Liabilitiesnetofassets. 1087.2 8 89.9 (4) Fundingagreementswithlifeinsurancecompanies. 4 1128.3 6 454.6 (3) MortgagesbackingprivatelyissuedpoolsecuritiesandCMOs. 0.0 88.8 (2) Includesloansbackingdomestically-issuedcollateralizedloanobligation(CLO)securities;U.S.CLOsecuritiesissuedoutsidetheareshowninline15oftableL.133. 197.9 449.1 (1) Agency-andGSE-backedmortgagepoolsecuritiesbackingprivatelyissuedCMOs. 0.0 188.3 89.1 469.1 20FL763169103Commercialpaper(8) 175.6 466.7 91.9 0.0 Securitizedliabilitiesnotincludedabove 163.1 19FL643065045REITassets(7) 464.9 85.7 18FL675013263Consumerleases(6) 0.0 160.2 449.1 Securitizedassetsnotincludedabove 82.7 188.3 466.6 0.0 Memo: 151.8 70.7 474.7 17FL673163005Corporatebonds(net)(5) 0.0 157.8 518.0 16FL673169105Commercialpaper 159.4 15FL674122005Debtsecurities 0.0 14FL674122005Totalliabilities 0.0 13FL673090543Miscellaneousassets(fundingagreements)(4) 12FL673070003Tradecredit 0.0 11FL673066000Consumercredit 10FL673065505Commercial 9FL673065405Multifamilyresidential 8FL673065105One-to-four-familyresidential 7FL673065005Mortgages(3) 6FL673069005Otherloansandadvances(2) 5FL674023005Loans 4FL673061703Agency-andGSE-backedsecurities(1) 3FL673061103Treasurysecurities 2FL674022005Debtsecurities 1FL674090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.127 IssuersofAsset-BackedSecurities(ABS) 104

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 28615. 17510. 17115. 10010. 29415 1239.4 14 1202.7 1239.4 1190.0 1202.7 1157.2 1190.0 1157.1 1157.2 1202.7 1157.1 1147.5 1202.7 1152.2 1147.5 1208.6 1152.2 5 1208.6 1072.6 1043.1 1038.6 1009.0 1 1010.4 1239.4 1043.1 1202.7 1007.5 1190.0 1024.8 1157.2 1083.5 1157.1 1202.7 1147.5 1152.2 1208.6 3. 1. 2. 5. 3. 3. 3. 5. 3. 19 131.8 151.9 138.2 134.1 130.2 151.9 122.8 110.6 134.2 10 364.8 357.1 7 871.9 348.2 851.7 334.4 859.4 339.5 841.7 357.1 845.5 339.8 851.7 327.6 850.2 327.8 845.6 893.7 477. 756. 167. 866. 2820 72.8 68.2 68.6 79.0 81.6 16 73.4 68.2 75.7 87.5 79.6 11 2.8 75.5 12 36.9 84.6 94.7 3.1 34.6 82.7 9 52.5 3.5 32.5 75.7 45.5 32.9 80.9 4.1 42.1 33.3 65.0 4.7 3 40.6 34.6 80.3 2 32.0 3.1 32.0 41.1 33.9 33.0 5.5 33.0 45.5 32.5 29.1 29.1 43.8 21.4 33.9 26.5 26.5 43.3 30.5 24.3 24.3 47.8 33.0 33.0 20.4 20.4 12.3 12.3 20.5 20.5 ...... 18 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

3 F63633 osmrlae o nlddaoe()19513213911512911711811519023 189.0 191.5 191.8 191.7 19 117.4 192.9 150.8 191.5 131.7 193.9 16 126.2 193.2 160.3 121.3 189.5 152.7 150.8 152.1 111.5 148.9 124.7 150.1 107.6 9 152.7 249.9 147.1 23FL613066303Consumerleasesnotincludedabove(2) 326.0 6 144.7 400.1 306.3 Memo: 156.0 386.7 298.3 22FL613193005Other 2 394.0 21FL613194003Investmentbyparent 285.9 4 13.4 20FL613190005Miscellaneousliabilities 401.2 326.0 60.4 12.3 19LM613192003ForeigndirectinvestmentinU.S. 401.0 257.4 60.0 386.7 12.8 18FL613178005Taxespayable 320.8 56.7 397.1 263.6 13.5 17FL613169005Otherloansandadvances 16FL613168003Depositoryinstitutionloansn.e.c. 387.2 53.1 15FL614123005Loans 13.7 388.0 54.1 14FL613163005Corporatebonds 12.3 13FL613169100Openmarketpaper 60.0 12FL614122005Debtsecurities 14.3 55.3 11FL614190005Totalliabilities 18.6 63.8 10FL613090005Miscellaneousassets 20.8 73.1 9LM613092003U.S.directinvestmentabroad 8FL613066005Consumercredit 7FL613065000Mortgages 6FL613069500Otherloansandadvances 5FL614023005Loans 4LM613063003Debtsecurities(corporateandforeignbonds) 3FL613030003Timeandsavingsdeposits 2FL613020003Checkabledepositsandcurrency 1FL614090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.128 FinanceCompanies(1) (2) Seefootnote(5),tableL.127. (1) Includesretailcaptivefinancecompaniesandmortgagecompanies. 0621 0821 2019 2019 2018 2017 2016 57316. 42413. 40112. 48213. 41311 1431.3 1437.1 1428.2 1425.2 1430.1 1437.1 1432.4 5 1469.7 1043.8 1507.3 1041.5 1048.9 1053.2 1050.6 1 1041.5 1463.5 1046.2 1528.1 1052.3 1510.2 1074.7 1505.5 1491.1 1528.1 1470.3 1539.6 1539.4 1. 0. 4. 5. 5. 6. 5. 5. 7. 22 170.7 21 120.6 20 159.2 291.3 122.7 154.3 281.9 124.1 164.0 278.3 125.0 155.2 289.0 127.7 159.2 282.8 15 122.7 149.9 161.2 281.9 128.2 14 203.9 153.6 278.1 783.1 139.0 213.4 12 153.0 342.9 771.8 845.9 132.6 149.6 346.1 790.2 835.4 150.7 779.5 850.0 153.6 794.5 844.9 147.7 771.8 859.2 8 148.1 7 814.6 528.4 835.4 115.3 159.5 763.0 537.6 879.2 117.2 814.9 536.0 835.1 118.9 533.3 886.3 118.7 529.4 120.3 537.6 117.2 534.4 114.8 541.3 123.8 548.4 138.3 147. 466. 476. 986. 2813 62.8 63.5 59.8 10 55.8 65.4 51.5 64.7 47.0 63.5 46.9 64.6 45.7 72.2 3 51.5 40.3 71.4 54.4 36.8 28.3 38.4 45.0 40.5 41.1 36.8 42.8 55.8 62.3 ...... 17 0.9 18 15.4 1.0 15.5 0.9 15.1 0.6 15.5 16.1 0.6 15.5 1.0 15.9 0.6 18.9 3.4 7.9 3.5 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 105 2020

Levels Levels 4 F63643 utfml eieta otae . . . 067682891. . 24 4.9 22 0.0 10.6 0.0 8.9 23 28.0 0.0 8.2 21 43.8 131.8 0.0 7.6 37.9 151.9 0.0 10.6 138.2 35.7 17 134.1 4.8 0.0 69.8 35.0 130.2 30.5 3.2 43.8 0.0 151.9 31.0 35.1 122.8 2.3 0.0 33.5 110.6 29.9 0.0 134.2 36.8 35.8 12 266.6 30.5 379.6 39.6 7 373.1 54.0 36.3 368.8 5 25FL643065543Commercialmortgages 75.2 338.3 35.0 24FL643065443Multifamilyresidentialmortgages 31.2 23FL643065163One-to-four-familyresidentialmortgages 379.6 83.0 51.8 22FL643061743Agency-andGSE-backedsecurities 21FL643065045Securitizedassetsincludedabove 307.6 78.6 2 48.2 264.3 84.3 Memo: 73.4 4 49.0 209.4 44.8 219.0 20FL643193005Miscellaneousliabilities 75.2 49.2 334.5 47.9 19FL123165005Mortgages 72.8 18FL643169373Otherloansandadvances 51.8 335.4 40.7 17FL643168005Depositoryinstitutionloansn.e.c. 65.1 328.1 16FL644123005Loans 50.8 35.1 305.7 60.3 15FL643163005Corporatebonds 42.3 14FL643169173Openmarketpaper 44.8 334.5 13FL644122005Debtsecurities 40.2 273.7 36.0 12FL642151073Securityrepurchaseagreements 255.3 40.8 11FL644190005Totalliabilities 200.7 37.7 10FL643090005Miscellaneousassets 9FL643065505Commercial 8FL643065405Multifamilyresidential 7FL643065105One-to-four-familyresidential 6FL643065005Loans(mortgages) 5FL643063005Corporateandforeignbonds 4FL643061773Agency-andGSE-backedsecurities 3FL644022005Debtsecurities 2FL643020005Checkabledepositsandcurrency 1FL644090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.129 RealEstateInvestmentTrusts(REITs)(1) 106 (1) AdditionaldetailonfinancialassetsandliabilitiesforequitymortgageREITsisavailabletablesL.129.eL.129.m.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 07719. 10412. 27616. 26812. 28811 1238.8 1329.0 1296.8 1269.4 1237.6 1329.0 1170.4 1093.0 1007.7 3. 4. 2. 2. 2. 1. 2. 2. 2. 19 223.4 224.7 16 297.8 220.3 15 263.7 219.7 528.1 13 259.7 220.5 538.1 528.1 261.7 224.7 519.3 538.1 266.7 226.2 501.2 519.3 263.7 242.0 482.9 501.2 10 275.2 199.7 236.5 538.1 482.9 9 288.2 192.6 470.0 185.5 538.1 284.3 186.6 439.0 182.8 6 470.0 190.0 249.7 417.3 189.6 439.0 205.7 273.8 185.7 417.3 3 192.6 285.5 180.5 253.9 205.3 276.3 182.8 386.3 180.5 264.8 1 174.5 383.6 787.6 169.0 273.8 163.5 377.2 897.5 255.0 162.8 355.0 903.7 234.8 386.3 884.2 227.8 324.5 860.5 297.6 897.5 240.9 820.8 753.7 675.4 617. 299. 769. 139. 8825 98.8 97.6 91.3 90.1 18 4.6 87.6 8.5 97.6 20 146.2 82.9 8.4 147.6 77.5 144.7 8.5 137.7 96.1 9.4 149.6 147.6 8.5 117.6 9.4 101.5 96.7 9.8 16.6 ...... 14 0.0 0.0 0.0 0.0 0.0 8 0.0 10.1 15.8 0.0 13.0 0.0 12.0 0.0 10.9 15.8 7.7 6.3 4.6 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

3 F63643 utfml eieta otae . . . 067682891. . 23 4.9 21 0.0 10.6 0.0 8.9 22 28.0 0.0 8.2 20 43.8 17 131.8 0.0 3.4 7.6 37.9 151.9 0.0 1.9 10.6 138.2 35.7 134.1 4.8 0.0 2.0 35.0 130.2 3.2 43.8 0.0 3.0 151.9 35.1 122.8 2.3 0.0 4.5 110.6 29.9 0.0 1.9 12 134.2 35.8 266.6 5.3 379.6 7 373.1 5.1 53.8 368.8 5 75.0 3.3 338.3 25.0 24FL643065543Commercialmortgages 23FL643065443Multifamilyresidentialmortgages 379.6 82.7 41.1 22FL643065163One-to-four-familyresidentialmortgages 2 21FL643061743Agency-andGSE-backedsecurities 307.6 78.3 19.7 38.3 20FL643065045Securitizedassetsincludedabove 264.3 73.1 12.0 4 Memo: 39.1 209.4 219.0 75.0 11.6 19FL643193075Miscellaneousliabilities 39.6 334.5 72.5 11.2 18FL643169373Otherloansandadvances 41.1 335.4 17FL643168073Depositoryinstitutionloansn.e.c. 64.8 9.3 328.1 16FL644123075Loans 40.8 305.7 60.1 15FL643163075Corporatebonds 35.0 12.0 14FL643169173Openmarketpaper 334.5 13FL644122075Debtsecurities 35.0 9.6 273.7 12FL642151073Securityrepurchaseagreements 255.3 9.0 11FL644190075Totalliabilities 200.7 12 10.7 66.4 10FL643090075Miscellaneousassets 28.6 9FL643065573Commercial 8FL643065473Multifamilyresidential 7FL643065173One-to-four-familyresidential 29.0 5 6FL643065075Loans(mortgages) 10 0.2 363.7 30.6 5FL643063073Corporateandforeignbonds 358.0 4FL643061773Agency-andGSE-backedsecurities 32.3 0.2 3FL644022075Debtsecurities 354.3 28.6 0.3 340.8 2FL643020073Checkabledepositsandcurrency 34.3 328.9 1FL644090075Totalfinancialassets 0.3 2 358.0 31.2 3 64.5 10.0 0.3 322.8 Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted 27.8 32.8 L.129.m MortgageRealEstateInvestmentTrusts 305.6 10.8 0.2 268.1 36.3 10.0 0.3 29.4 9.9 16FL123193005Miscellaneousliabilities 0.3 25.8 9.6 15FL123165503Commercial 14FL123165403Multifamilyresidential 32.8 0.3 13FL123165005Mortgages 10.8 12FL123168003Depositoryinstitutionloansn.e.c. 26.4 11FL124123005Loans 10.0 31.8 10FL123163003Debtsecurities(corporatebonds) 7.3 27.0 9FL124190005Totalliabilities 5.2 8FL123093005Miscellaneousassets 7FL123065503Commercial 6FL123065403Multifamilyresidential 5FL123065103One-to-four-familyresidential 4FL123065005Loans(mortgages) 3FL123063003Debtsecurities(corporateandforeignbonds) 2FL123020003Checkabledepositsandcurrency 1FL124090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.129.e EquityRealEstateInvestmentTrusts 0621 0821 2019 2019 2018 2017 2016 4. 3. 4. 8. 5. 6. 6. 8. 6. 15 164.4 13 180.1 164.4 165.0 180.1 160.4 11 165.0 457.5 154.0 160.4 591.3 180.1 154.0 9 568.8 147.2 154.5 180.1 559.0 133.4 152.6 6 147.2 540.4 217.7 149.3 160.2 133.4 591.3 242.6 157.5 149.3 3 501.7 255.4 154.0 243.9 429.8 247.6 152.6 375.6 397.1 237.7 1 147.8 373.6 531.4 242.6 131.4 367.2 680.7 227.7 142.7 345.3 687.0 201.8 375.6 676.4 206.9 314.5 657.1 290.2 680.7 235.7 612.4 15 200.1 537.2 13 201.9 500.5 223.4 11 198.4 224.7 289.8 197.3 220.3 253.3 197.8 9 219.7 249.3 781.3 201.9 220.5 8 250.3 737.7 202.3 149.7 224.7 252.8 728.1 213.6 142.0 226.2 253.3 710.4 203.4 140.2 242.0 260.6 697.2 139.7 236.5 273.2 737.7 140.9 264.3 668.7 142.0 663.2 1 144.6 256.2 610.6 144.3 216.8 121.8 216.7 207.8 203.4 216.8 208.3 216.5 174.8 617. 299. 769. 139. 8824 98.8 97.6 91.3 18 90.1 4.6 19 18.4 87.6 8.5 21.2 97.6 16 8.0 8.4 20.3 82.9 10.4 8.5 18.4 77.5 10.4 34.2 96.1 9.4 11.4 21.2 8.5 13.9 32.3 10 9.4 50.0 10.4 17.2 50.6 9.8 14.7 18.5 46.3 14.9 16.6 50.3 20.0 64.8 50.6 60.7 36.2 47.3 16 14 127.9 23.3 126.4 22.8 124.5 21.9 119.3 115.4 22.4 126.4 22.7 85.3 7 22.8 31.1 84.3 24.0 4 30.2 78.2 31.9 28.4 29.4 31.2 33.1 28.1 30.1 26.5 28.7 30.2 27.1 26.7 31.2 32.0 27.3 20.1 33.1 20.8 ...... 14 0.0 0.0 0.0 0.0 0.0 8 9.4 0.0 15.0 0.0 12.6 0.0 11.7 0.0 10.6 15.0 7.3 5.6 4.1 6 0.7 0.8 0.5 0.3 0.3 0.8 0.4 0.7 0.5 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 107 2020

Levels Levels 2 L63905 Frindrc neteti ..18510112820812414810220819922 129.9 24 1722.9 200.8 19 1737.1 924.1 1722.5 180.2 780.2 1702.6 164.8 18 1699.4 788.6 189.8 152.4 1737.1 757.1 125.8 16 1660.2 200.8 256.9 750.3 1645.8 125.6 122.8 174.0 1841.4 780.2 123.8 180.1 183.3 758.7 121.5 128.5 15 205.9 1815.9 760.4 125.8 12 1755.0 181.9 226.3 815.3 124.0 1873.7 9 174.0 299.2 1781.4 120.2 55.5 184.0 1689.3 299.6 106.0 54.0 10 25FL663193005Other 1755.0 185.7 299.0 431.9 24FL663194005Investmentbyparentcompanies 1698.4 129.1 67.8 23FL663190005Miscellaneousliabilities 283.8 410.6 1392.5 7 1313.1 299.2 392.1 22LM663192005ForeigndirectinvestmentinU.S. 56.3 122.2 252.6 389.0 21FL663178005Taxespayable 104.1 60.6 20FL663170003Tradepayables 302.5 368.7 109.4 54.0 252.0 410.6 19FL153067005Otherloansandadvances 2 104.2 18FL663168005Depositoryinstitutionloansn.e.c. 63.0 162.0 375.5 17FL664123005Loans 82.0 3 125.2 399.3 71.4 1482.9 16FL663163003Debtsecurities(corporatebonds) 104.1 119.0 329.7 1396.0 80.0 72.3 15FL662151003Securityrepurchaseagreements 1466.5 118.9 1363.2 54.1 14FL664190005Totalliabilities 108.8 1318.5 125.2 68.2 13FL663090005Miscellaneousassets 1396.0 1315.2 126.2 12LM663092003U.S.directinvestmentabroad 1109.0 119.0 1112.7 11LM663064103Corporateequities 119.2 10FL663069005Loans(otherloansandadvances) 9LM663063005Corporateandforeignbonds 8LM663062003Municipalsecurities 7LM663061703Agency-andGSE-backedsecurities 6LM663061105Treasurysecurities 5FL663069103Openmarketpaper 4LM664022005Debtsecurities 3FL662051003Securityrepurchaseagreements 2FL663020003Checkabledepositsandcurrency 1FL664090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.130 SecurityBrokersandDealers 108

Z.1, June11,2020 14. 19. 12. 17. 14. 14. 17. 17. 13. 25 -1431.0 -1376.2 -1374.5 -1345.6 -1340.2 -1376.2 -1320.2 -1292.6 -1446.5 0621 0821 2019 2019 2018 2017 2016 96935. 28832. 24431. 59232. 62714 3642.7 3425.1 3529.2 3419.6 3284.4 3425.1 3258.8 3050.2 2926.9 1 3749.4 3468.6 3588.4 3486.9 3354.8 3468.6 3358.9 3097.2 3022.5 9. 5. 4. 6. 5. 5. 4. 6. 9. 23 291.9 360.8 347.9 357.0 359.2 360.8 17 1113.9 340.0 906.1 353.2 914.2 394.9 881.0 871.8 13 831.2 906.1 658.4 882.7 11 686.1 880.6 144.7 687.0 921.3 166.7 682.1 175.5 658.4 180.1 6 697.8 158.8 258.3 678.7 4 166.7 229.5 470.4 727.2 147.7 238.3 412.6 182.7 258.9 449.7 176.1 261.0 449.7 229.5 434.0 276.4 412.6 144.6 443.9 122.6 306.1 305.6 674. 681. 491. 551. 0120 20.1 15.8 15.5 15.0 14.9 15.8 16.8 44.6 36.7 8 13.7 5 20.7 16.4 8.5 20.4 18.4 13.8 16.4 12.0 16.4 13.9 20.7 8.5 26.7 11.4 21.0 9.3 13.8 . 361. 271. 461. 271. 21 14.0 12.7 14.3 14.6 14.8 12.7 14.1 13.6 3.3 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

9 F72503 euiyrprhs gemns01010000000000000019 0.0 0.0 23 183.5 181.0 0.0 179.5 0.0 16 188.9 10.3 184.7 0.0 17.1 181.0 0.0 48.7 180.0 14 13 9.3 0.0 12 189.8 0.0 45.5 6.7 177.4 10.2 5.9 42.6 0.1 15 6.8 1048.5 11.9 7 17.1 987.2 5.9 0.1 27.3 6.7 12.4 3 989.2 18.3 8 2.1 11 5.7 28.9 6 128.7 996.3 13.0 2618.7 6.8 -6.6 41.9 2603.5 117.7 29.9 24FL733193005Miscellaneousliabilities 976.8 2.1 5.2 10.2 2574.1 6.3 -4.8 44.9 125.9 987.2 23LM733192003ForeigndirectinvestmentinU.S.(2) 27.3 2584.4 15.0 1.2 5.9 112.9 952.6 2517.4 42.9 6.8 22FL733163003Corporatebonds 22.6 2603.5 28.4 107.2 21FL733169103Commercialpaper 975.9 1.3 4.8 43.9 2500.5 20FL734122005Debtsecurities 6.0 28.9 117.7 1150.1 34.4 2495.7 1.5 44.0 15.8 19FL732151003Securityrepurchaseagreements 104.3 21.0 2397.2 4.8 44.9 13.3 123.1 18FL734190005Totalliabilities 2.1 17.7 4.3 22.8 41.5 17FL733093005Other 23.9 1.7 16FL263194735Nettrans.withforeignaffiliates 27.3 15FL663194735Nettrans.withbrokeranddealeraffiliates 14FL613194733Nettrans.withfinancecompanyaffiliates 5.7 25.0 13FL543194733Nettrans.withlifeinsurancecompanyaffiliates 12FL513194733Nettrans.withproperty-casualtyins.co.affiliates 2.3 11FL763194735Nettrans.withdepositoryaffiliates 10FL733090005Miscellaneousassets 9FL733040005Lifeinsurancereserves 8FL733069005Loans(otherloansandadvances) 7LM733063003Corporateandforeignbonds 6LM733061703Agency-andGSE-backedsecurities 5LM733061103Treasurysecurities 4LM734022605Debtsecurities 3FL732051003Securityrepurchaseagreements 2FL733030003Timeandsavingsdeposits 1FL734090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.131 HoldingCompanies(1) (2) InvestmentinU.S.IntermediateHoldingCompanies. (1) Parent-onlybankholdingcompanies,savingsandloancompaniessecuritythatfileFederalReserveBoardformFRY-9LP,Y-9SP,or2320. 0621 0821 2019 2019 2018 2017 2016 33514. 35814. 45017. 48114. 57122 1537.1 20 1443.8 1542.5 1468.1 1449.6 1472.8 1471.9 1435.0 18 1479.2 1725.7 1443.8 1441.2 1644.7 1395.8 1449.6 1652.1 1444.2 1401.7 1657.8 1373.5 1448.6 1611.7 1375.7 1644.7 1568.0 10 1615.8 3734.1 1540.6 3675.2 3691.3 3718.3 3629.0 3675.2 3565.3 3592.0 3698.9 1 4064.5 4003.1 4023.7 4022.4 3917.7 4003.1 3840.6 3858.3 3852.7 0. 816. 446. 735. 444. 17 40.6 44.4 54.9 67.3 67.5 44.4 68.1 78.1 104.3 1. 2. 1. 40-42-02071. 0324 -0.3 14.0 0.7 -10.2 -14.2 14.0 -13.7 -22.7 -12.6 305. 106. 206. 406. 609 66.0 65.0 64.0 63.0 62.0 4 2 123.4 10.1 65.0 132.0 11.1 61.0 128.6 12.8 110.7 57.0 100.9 16.2 53.0 132.0 17.1 97.4 11.1 67.2 11.0 58.7 13.3 17.0 ...... 21 5.4 5.9 3.8 6.4 6.2 5.9 5.9 4.4 2.2 5 54.3 58.2 55.9 39.6 34.3 58.2 34.8 22.2 9.8 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 109 2020

Levels Levels 0 F53903 oeg ietivsmn nUS ...... 20 0.0 0.0 18 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12 0.0 674.4 8 11 0.0 7 122.4 749.8 26.8 4 81.8 119.5 733.3 0.0 0.0 19.0 70.9 118.7 706.2 20.5 0.0 122.4 722.6 74.0 24FL503193005Other(net) 23LM503194305EquityinterestunderPPIP 19.6 138.5 749.8 0.0 73.1 22FL663097005Securitiesloaned(net) 2 3 119.5 21FL503190005Miscellaneousliabilities 707.6 159.3 18.7 333.8 72.3 0.0 123.1 669.9 61.2 20FL503192003ForeigndirectinvestmentinU.S. 290.1 19.0 70.9 79.7 691.3 0.0 271.0 65.5 19FL503169205Otherloansandadvances 18.3 18FL713068505Depositoryinstitutionloansn.e.c. 70.7 99.8 247.5 53.0 17FL504123005Loans 0.0 19.0 235.5 72.6 16FL503163005Corporatebonds 54.3 16.0 0.0 290.1 15FL503169105Openmarketpaper 69.0 14FL504122005Debtsecurities 61.2 234.7 0.0 227.2 13FL504190005Totalliabilities 62.3 0.0 219.8 12FL663194505Investmentinbrokersanddealers 65.7 11FL753194503Investmentinforeignbankingoffices 10FL503094505Miscellaneousassets 27.4 9FL503064105Corporateequities 8FL503069805Loans(otherloansandadvances) 7FL503063005Corporateandforeignbonds 6FL503069105Openmarketpaper 5FL504022005Debtsecurities 4FL502051003Securityrepurchaseagreements 3FL503034005Moneymarketfundshares 2FL713129003Checkabledepositsandcurrency 1FL504090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.132 OtherFinancialBusiness(1) 110 thePublic-PrivateInvestmentProgram(PPIP),anddepositsofdesignatedfinancialmarketutilities(DFMU)atFederalReservebanks. (1) Includesfundingsubsidiaries,custodialaccountsforreinvestedcollateralofsecuritieslendingoperations,FederalReservefacilities,fundsassociatedwith

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 25615. 44411. 44513. 47311. 51513 1521.5 1411.9 1407.3 1437.1 1474.5 1411.9 1424.4 1353.9 1285.6 1 1521.5 1411.9 1407.3 1437.1 1474.5 1411.9 1424.4 1353.9 1285.6 164-2. 8. 149-64-0. 178-3. 5724 -5.7 -134.9 -157.8 -103.7 -76.4 -134.9 -82.9 -127.6 -176.4 6. 0. 8. 8. 9. 0. 1. 8. 4. 22 744.0 21 738.3 685.5 550.6 716.6 558.7 707.7 604.0 699.0 622.6 16 685.5 638.9 15 550.6 683.8 142.0 14 713.4 600.9 780.9 702.7 145.6 695.6 575.0 859.0 666.3 150.5 664.7 489.9 846.2 166.0 680.3 830.7 10 169.3 796.8 713.4 849.6 145.6 869.3 669.7 859.0 151.4 852.0 634.4 821.2 142.1 828.6 657.2 776.5 6 136.1 861.1 5 123.0 793.4 204.8 869.3 101.3 172.2 830.7 124.2 198.2 749.6 215.3 288.4 791.0 232.7 304.9 101.3 172.2 207.7 278.5 219.8 292.4 162.4 231.4 ...... 23 0.0 0.0 0.0 19 2.4 17 0.0 2.4 2.4 0.0 2.4 2.4 0.0 2.4 2.4 0.0 2.4 2.4 0.0 2.4 2.4 9 0.0 0.0 2.4 2.4 0.0 2.4 2.4 0.0 2.4 2.4 0.0 2.4 0.0 0.0 0.0 0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

6 F23903 rs eaiefi au 20516. 42319. 59517. 08319. D46 ND 1790.4 2078.3 40 1772.2 44 360.3 7358.3 1539.5 9513.5 6.4 1790.4 8770.2 42 41 1492.3 18.6 10.3 8936.5 3.6 1560.8 8720.6 2220.5 18.6 17.1 9513.5 2.6 7996.5 18.3 48.7 9118.1 4.0 18.1 45.5 7146.3 6.4 18.0 42.6 18.6 6.8 17.1 37 5911.6 17.8 18.3 7721.7 14.7 7215.0 19.3 -6.6 8.2 32 46FL263198013Grossnegativefairvalue 7316.1 714.1 20.0 45FL263098013Grosspositivefairvalue 7060.6 -4.8 30 Financialderivatives(6) 631.7 484.1 7721.7 6452.7 619.9 44LM263164100heldbyU.S.residents(5) 479.1 7828.7 Marketvalueofforeignequities 589.1 462.0 6412.1 547.5 Memo: 446.4 631.7 427.4 24 26 43FL263176005Policypayables 116.7 1281.4 42FL263195105Accidentandhealthinsurancereserves 546.7 479.1 1150.1 41FL263194735Netinvestmentbyholdingcompanies 118.3 487.3 40FL263191103Nonofficialforeigncurrencies 1220.3 416.8 116.5 39FL313092803U.S.equityinIBRD,etc. 1094.6 474.6 350.2 22 38FL263190005Miscellaneousliabilities 1092.0 117.2 61.7 307.9 1150.1 37LM263192005U.S.directinvestmentabroad(1,3) 114.0 61.3 914.6 118.3 36FL263150005Pensionentitlements 872.6 60.4 35FL263140005Lifeinsurancereserves 114.6 21 905.4 7473.4 60.1 34LM263170005Tradepayables 112.1 9465.8 15 106.1 59.4 532.6 33FL263169005Otherloansandadvances 8789.4 14 32FL263168005Depositoryinstitutionloansn.e.c. 8707.8 878.5 522.6 31FL264123005Loans 61.3 8377.6 829.8 502.7 9465.8 30LM263163063Ofwhich:CLOsecurities(2) 59.2 13 797.8 501.4 3781.9 29LM263163005Bonds 7432.1 28FL263169105Commercialpaper 50.1 4001.1 7844.2 794.6 483.2 27LM264122005Debtsecurities 3952.6 6586.4 777.0 39.8 522.6 3875.3 26FL262151003Securityrepurchaseagreements 11 829.8 459.1 3763.8 1264.6 7 25LM263191005U.S.privatedeposits 4001.1 733.3 ND 1180.5 24LM263111005U.S.officialreserveassets(4) 1175.4 3609.8 1170.8 375.8 1023.3 3881.7 ND 23FL264190005Totalliabilities 1151.6 4 1063.7 203.3 3431.7 1117.6 1058.3 1056.7 22FL263076005Miscellaneousassets(insurancereceivables) 1180.5 985.8 21LM263092001ForeigndirectinvestmentinU.S.(3) 1036.1 1077.9 20FL543151905Pensionentitlements 1023.3 969.5 19FL543141905Lifeinsurancereserves 1012.2 939.7 950.7 18LM263070005Tradereceivables 991.6 1002.6 930.3 17LM263064203Mutualfundshares 971.5 16LM263064105U.S.corporateequities 985.8 928.0 15FL263069563Ofwhich:loansheldbyCLOs(2) 14FL263069500LoanstoU.S.corporatebusiness 848.5 13LM263063005U.S.corporatebonds(1) 766.9 12FL263062003Municipalsecurities 11LM263061705Agency-andGSE-backedsecurities 10LM263061105Treasurysecurities 9LM263069103Openmarketpaper 8LM264022005Debtsecurities 7FL262051005Securityrepurchaseagreements 6FL263034003Moneymarketfundshares 5FL263030005U.S.timedeposits 4FL263020005U.S.checkabledepositsandcurrency 3FL264016005Netinterbankassets 2LM313111303SDRallocations 1FL264090005Totalfinancialassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.133 RestoftheWorld (6) Financialderivativesarenotincludedabove. (5) IncludesAmericanDepositaryReceipts(ADRs). (4) Doesnotincludemonetarygold. (3) Directinvestmentisvaluedonamarketvaluebasis. (2) Collateralizedloanobligations. (1) Through1992:Q4,corporatebondsincludenetissuesbyNetherlandsAntilleanfinancialsubsidiaries; U.S.directinvestmentabroadexcludesnetinflowsfromthosebondissues. 11. 30. 22. 49. 32. 46. 44. 49. 33. 23 13335.6 14797.9 14248.5 14061.5 13626.5 14797.9 12727.7 13904.5 11619.0 8 12088.9 12112.3 12141.2 11883.5 11578.0 12112.3 11177.5 11341.9 10661.1 1 31989.7 34892.2 33578.0 33231.9 32151.1 34892.2 29905.7 30502.0 26725.8 0621 0821 2019 2019 2018 2017 2016 12312. 44617. 57615. 07917. D45 ND 1770.3 2047.9 1756.4 1507.6 1770.3 1454.6 1523.2 2162.3 29 3106.1 27 3336.7 3547.7 3232.0 3789.5 3176.2 3688.1 3056.2 3590.1 3336.7 3443.8 2998.6 3789.5 2982.0 3366.9 2531.1 3344.0 2801.2 16 6750.0 8246.5 7633.5 7667.3 7234.7 8246.5 10 6510.6 6813.1 7019.4 6695.3 5782.7 6776.9 6640.5 6473.3 6695.3 6264.9 6211.3 6002.8 3. 5. 6. 6. 6. 6. 6. 6. 6. 43 167.7 166.6 164.2 38 163.5 627.6 161.5 279.3 166.6 305.4 161.1 300.5 159.3 295.5 137.8 279.3 273.5 31 771.3 254.7 684.9 227.8 28 672.5 441.7 641.9 452.8 602.1 456.2 25 684.9 413.9 848.5 593.1 387.7 824.4 541.5 452.8 800.0 506.5 368.3 777.7 362.0 796.0 270.1 18 824.4 359.0 788.8 17 349.9 738.3 756.5 346.0 893.4 500.6 343.7 866.6 342.2 874.9 349.9 909.0 332.7 893.4 9 300.4 799.0 122.1 253.5 828.7 130.1 694.2 136.8 5 114.2 704.0 122.0 596.8 130.1 603.1 124.1 607.0 135.4 596.6 140.8 596.8 601.1 564.6 550.8 666. 947. 947. 077. 0739 70.7 70.7 70.7 36 84.2 35 69.7 70.7 80.8 34 76.8 68.3 69.4 80.3 33 57.1 80.5 68.2 70.7 79.0 53.2 82.3 67.3 69.4 78.2 52.6 77.1 66.9 68.1 80.8 52.8 77.2 68.3 66.6 77.5 54.6 80.5 66.6 18.9 53.2 79.4 98.1 15.3 46.4 77.4 75.0 54.1 69.0 31.9 19 11.1 10.7 10.7 10.6 10.5 10.7 10.4 12 107.1 19.7 105.3 17.0 104.1 6 102.0 154.6 101.2 129.5 2 105.3 48.2 122.7 3 100.8 114.3 471.9 48.8 101.3 112.5 122.2 48.1 94.2 129.5 109.6 49.1 110.7 95.9 49.0 93.4 122.7 48.8 93.3 122.2 206.8 49.1 158.0 50.3 54.0 47.5 . . 541. 551. 591. 6520 16.5 16.0 15.9 15.6 15.5 16.0 15.4 4.3 3.9 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 111 2020

Levels Levels 8 F93105 iceac:mntr od-10-10-10-10-10-10-10-10-1018 -11.0 -11.0 -11.0 -11.0 13 48.2 -11.0 48.8 -11.0 48.1 -11.0 -11.0 49.1 -11.0 49.0 48.8 Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted 49.1 L.201 SpecialDrawingRights(SDRs)CertificatesandTreasuryCurrency 50.3 2 48.2 47.5 (2) Byinternationalaccountingstandards,monetarygoldisafinancialassetforwhichtherenocorrespondingliability. 48.8 (1) IncludesfederalgovernmentliabilitytoIMFforspecialdrawingrights(SDRs)allocationsandaccruedinterest. 48.1 18FL903011005Discrepancy:monetarygold 49.1 17LM713011505Otherreserves 16FL713011405ReservepositioninIMF 49.0 15FL713011203Monetarygold(2) 14FL713011005Monetaryauthority 48.8 13LM313111303Restoftheworld:SDRallocations 49.1 12LM313011505Otherreserves 11LM313011405ReservepositioninIMF 50.3 10LM313011303SDRholdings 9FL313011205Monetarygold(2) 47.5 8FL313011005Federalgovernment 7FL893011005Totalassets 6LM263111503Otherreserves 5LM263111403ReservepositioninIMF 4LM313011303SDRholdings 3LM263111005Restoftheworld 2LM313111303Federalgovernment:SDRallocations 1LM893111005Totalliabilities Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.200 U.S.OfficialReserveAssetsandSDRAllocations(1) 112 L0010 Dsrpny-nloae ses3494736136336796826656337695 716.9 3 663.3 97.8 656.5 116.7 618.2 102.2 1 647.9 848.5 119.8 663.3 824.4 107.7 641.3 800.0 116.7 497.3 777.7 106.3 374.9 796.0 216.6 824.4 97.6 788.8 756.5 500.6 5FL903091005Discrepancy--unallocatedassets 4FL633091003Moneymarketfunds 3FL103091003Nonfinancialcorporatebusiness 2LM153091003Householdsector Heldby: 1LM263191005Totalrestoftheworldliability Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.202 U.S.DepositsinForeignCountries 5FL903012005Discrepancy(seigniorage) 4FL713012003Asset:Monetaryauthority 3FL313112003Liab:Federalgovernment Treasurycurrency: 2FL713014003Asset:Monetaryauthority 1FL713014003Liab:Federalgovernment SDRcertificates:

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 6. 7. 7. 7. 7. 7. 7. 7. 7. 7 176.0 178.2 175.6 3 177.3 116.7 174.1 118.3 1 178.2 116.5 164.9 174.8 117.2 167.1 173.4 114.0 164.6 164.7 118.3 166.3 114.6 163.0 112.1 167.1 106.1 163.7 162.4 153.6 2. 2. 2. 2. 2. 2. 2. 2. 2. 5 -24.9 -24.7 -24.7 -24.6 -24.5 -24.7 -24.4 -24.1 -23.2 962. 102. 072. 052. 0617 20.6 15 11.0 20.8 14 31.4 11.0 20.5 31.6 11.0 21.0 12 20.5 31.3 11 25.8 11.0 10 20.7 50.1 20.6 31.8 8 26.4 11.0 20.8 96.4 50.7 20.3 31.4 25.9 11.0 21.0 97.8 50.0 20.9 31.6 6 24.6 11.0 21.4 5 41.1 96.2 50.9 20.5 31.8 4 25.5 22.4 11.0 19.6 50.1 41.4 96.4 50.8 20.6 32.2 26.2 26.4 11.0 50.7 40.8 93.6 50.7 20.8 30.4 25.6 22.3 50.0 41.9 97.8 50.8 21.2 24.4 17.9 50.9 41.1 93.9 51.9 19.3 22.1 18.7 50.8 41.4 91.0 48.9 26.2 50.7 41.8 86.8 22.0 50.8 42.6 17.6 51.9 38.9 18.4 48.9 633. 973. 903. 743. 002 30.0 37.1 37.4 37.6 39.0 37.1 39.7 4 3 38.9 50.2 25.3 26.3 50.1 25.3 50.0 25.3 49.9 25.3 49.9 25.3 50.1 25.3 49.8 25.3 49.4 25.3 48.5 25.3 03-. 03-. 03-. 03-. 0316 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 ...... 9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 ...... 4 3.8 7.4 3.9 2.2 1.5 7.4 1.5 3.7 1.9 2 1 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

6 F73205 ak nUS-fiitdaes12101316131415161946 1.9 1.6 48 45 36.4 1.5 27.7 31.4 1.4 26.4 33.9 43 27.3 1.3 -25.6 36.6 27.8 -8.5 1.6 41 40.1 28.0 9.9 -11.2 39 1.3 31.4 21.5 26.4 -13.6 40 9.5 11.5 39.4 21.3 1.0 -4.4 36 26.8 68.7 10.4 11.8 38 50.9 23.1 38.8 -8.5 1.2 29.0 69.8 10.0 12.7 53.9 19.9 40.8 26.9 -6.1 37 33 67.0 29.9 10.1 9.9 35 29.0 19.8 10.0 39.8 3.1 67.0 29.0 9.5 26.8 9.7 21.3 11.6 40.8 34 -34.8 19.0 67.0 27.2 32 49FL904010005Unallocated(2) 8.3 28.2 17.5 11.8 11.0 811.8 31 40.5 26 1311.1 15.2 69.8 26.2 76.6 48FL754112205-Duefrom:ForeignbankingofficesinU.S. 26.8 831.6 18.3 8.9 9.2 11.4 982.0 40.8 25 17.1 72.0 26.5 28 29 0.0 47FL474012205Creditunions 785.1 -0.7 28.5 933.3 30 19.2 413.0 364.1 10.7 43.1 46FL743020005BanksinU.S.-affiliatedareas 10.6 499.3 9.4 792.6 15.4 75.2 29.0 45FL754012205ForeignbankingofficesinU.S. 904.3 369.8 -0.6 26.8 322.8 0.1 150.4 11.6 44FL764112205Dueto(3): 46.3 781.5 27 8.6 958.2 17.7 74.2 28.9 349.6 43FL764112005U.S.-chartereddepositoryinstitutions(net) 316.2 48.9 30.3 148.2 -0.7 12.4 0.1 831.6 TransactionsbetweenU.S.depositoryinstitutions(net): 42.4 21 982.0 370.5 312.6 15.2 8.0 28.9 111.8 23 47.1 28.0 756.4 -0.8 982.1 13.6 42FL264016005Asset:Restoftheworld(1) 76.0 351.4 329.8 0.0 176.8 17.8 31.8 858.0 33.4 4.4 27.5 1016.7 369.8 -0.8 322.8 15.2 41FL284135125ForeignbankingofficesinU.S. -0.6 150.4 901.5 0.0 866.2 14.4 40FL274135123U.S.-chartereddepositoryinstitutions 57.9 347.1 281.2 7.3 225.7 39FL264035125Plus:Loansfromforeignbanks -0.6 -0.6 17 12.4 384.9 300.8 0.1 21.6 158.7 0.0 38FL754035125ForeignbankingofficesinU.S. -0.8 5.1 -0.7 347.6 246.4 37FL764035125U.S.-chartereddepositoryinstitutions 35.3 20 47.1 0.1 36FL264135125Loanstoforeignbanks 873.8 0.0 -0.9 -0.8 6.6 65.9 554.1 35FL754016205ForeignbankingofficesinU.S. 0.1 0.0 -0.8 -0.6 34FL764016205U.S.-chartereddepositoryinstitutions 4.4 505.7 19 16 84.1 33FL264116205Less:Depositsatforeignbanks 1476.5 99.0 523.8 -0.7 0.0 11 907.3 101.2 6.0 32FL753092605-Duefromforeignaffiliates 8.0 83.4 577.3 31FL753192605Duetoforeignaffiliates 838.2 -0.8 0.0 30FL754116205ForeignbankingofficesinU.S.(net) 7.8 554.1 70.3 4.4 806.7 -0.7 598.6 29FL763092605-Duefromforeignaffiliates 0.0 898.6 71.5 4.6 28FL763192605Duetoforeignaffiliates 7.3 710.1 27FL764116205Liab.:U.S.-chartereddepositoryinstitutions(net) 907.3 0.0 69.9 Transactionswithbanksinforeigncountries(net): 567.8 5.1 888.4 10 83.4 0.0 26FL713068705Loanstomemberbanks 873.9 1161.9 5 25FL713022003FederalReservefloat 6.6 1114.6 -1.9 82.0 24FL714010005Asset:Monetaryauthority 554.1 0.0 23FL714010005Liab:U.S.-chartereddepositoryinstitutions 9 4.4 505.7 77.2 -1.6 Othertransactionswiththemonetaryauthority 1575.5 523.8 990.8 76.0 22FL473013005Creditunions -1.5 6.0 3 4 577.3 21FL743013003BanksinU.S.-affiliatedareas 61.8 908.5 469.1 20FL753013003ForeignbankingofficesinU.S. -1.4 7.8 554.1 19FL763013005Asset:U.S.-chartereddepositoryinstitutions 878.2 112.5 5.6 18FL713113003Liab.:Monetaryauthority 598.6 -1.3 968.4 114.4 Depositoryinstitutionreserves: 4.6 -10.0 710.1 990.8 78.4 -1.6 17FL753025003ForeignbankingofficesinU.S. 567.8 11.9 970.5 16FL763025000Asset:U.S.-chartereddepositoryinstitutions 147.7 -1.3 15FL703025005Liab.:Monetaryauthority 1239.1 -18.1 Vaultcash: 112.5 1190.6 -1.0 5.6 191.1 Memo: -1.2 129.6 21.5 14FL904010005Discrepancy 15.4 52.6 13FL264016005Restoftheworld 12FL473013005Creditunions 30.1 11FL743013003BanksinU.S.-affiliatedareas 10FL753020005ForeignbankingofficesinU.S. 9FL763020005U.S.-chartereddepositoryinstitutions 8FL714010005Monetaryauthority 7FL894010005Totalassets 6FL474110005Creditunions 5FL744110005BanksinU.S.-affiliatedareas 4FL754110005ForeignbankingofficesinU.S. 3FL764110005U.S.-chartereddepositoryinstitutions 2FL714110005Monetaryauthority 1FL794110005Totalliabilities Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.203 NetInterbankTransactions (3) Sumoflines45,46,47,and49. insourcedata,appearsonline14asthediscrepancy betweenliabilitiesandassets. (2) InterbanktransactionsbetweenU.S.banksshould nettozeroandthusarenotshowninlines1through13above.However,theunallocatedamount (line49),whichisduetoinconsistencies (1) Sumoflines27and30lessline3336 plusline39. 0621 0821 2019 2019 2018 2017 2016 74214. 56014. 50812. 47314. 44318 2474.3 1548.8 1427.3 1421.5 1580.8 1548.8 1556.0 1949.0 1754.2 7 3121.2 1753.8 1606.6 1588.1 2 1772.6 2573.3 1753.8 1 1632.3 1844.1 3062.2 1497.6 2183.3 1709.7 1492.9 1883.4 1559.5 1650.7 1544.4 1632.3 1745.8 1638.0 1709.7 2026.2 1810.9 1830.2 2165.0 1828.0 5. 1. 3. 4. 2. 4. 4. 4. 5. 49 -59.1 -44.2 -47.1 -43.7 -26.8 -44.2 -33.3 -18.4 -55.4 14 -59.1 -44.2 -47.1 -43.7 -26.8 -44.2 6 -33.3 -40.2 -18.4 -39.1 -55.4 -41.0 -37.4 -33.2 -39.1 -38.4 -42.4 -46.5 654. 843. 323. 103. 0247 40.2 39.1 44 10.7 41.0 22.9 37.4 22.7 33.2 23.0 42 471.9 39.1 35.7 122.2 38.4 109.6 22.9 42.4 95.9 33.3 46.5 122.7 54.1 122.2 19.1 206.8 158.0 54.0 22 116.0 83.0 76.1 85.9 98.3 15 99.0 83.0 83.4 62.9 70.3 69.3 71.5 67.2 12 69.9 116.0 13 471.9 83.0 83.4 122.2 76.1 82.0 109.6 85.9 77.2 95.9 98.3 76.0 122.7 83.0 122.2 206.8 62.9 158.0 69.3 54.0 67.2 07-. 07-. 08-. 06-. 6024 76.0 -0.6 -0.6 -0.7 -0.8 -0.6 -0.7 -0.8 -0.7 8 76.0 -0.6 -0.6 -0.7 -0.8 -0.6 -0.7 -0.8 -0.7 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 113 2020

Levels Levels 2 F43205 oenetsosrdetrrss4. 943. 463. 643. 4612032 29 142.0 0.6 34.6 30 0.6 39.5 34.3 31.6 0.7 36.4 28.2 35.9 0.7 26 47.0 25 29.0 34.6 795.1 0.7 47.6 31.0 480.0 24 36.8 142.3 0.6 45.5 455.0 31.6 49.4 139.1 457.4 41.0 0.8 40FL903020005Mailfloat 28.9 128.6 48.8 394.0 32.3 129.0 39FL263025003Currency 30.2 1.0 480.0 38FL263027003Checkabledeposits 131.3 47.6 37FL263020005Restoftheworld 40.6 406.6 0.8 139.1 30.2 16 491.5 36FL713129003Otherfinancialbusiness 45.5 132.9 35FL663020003Brokersanddealers 443.0 31.9 34FL643020005REITs 140.6 45.7 33FL613020003Financecompanies 27.6 143.0 46.7 9 32FL403020005Government-sponsoredenterprises 31FL633020000Moneymarketfunds 1.7 43.3 30FL223020043Stateandlocalgovt.retirementfunds 13 1.6 41.0 29FL343020033Federalgovernmentretirementfunds 237.6 28FL573020005Privatepensionfunds 188.8 45.7 2.0 27FL543020005Lifeinsurancecompanies 194.1 12 26FL513020005Property-casualtyinsurancecompanies 40.9 2408.2 1.6 197.7 10 1966.3 5 142.3 25FL793020005Domesticfinancialsectors 37.4 190.9 1856.7 159.3 1.6 139.1 1809.6 24FL213020005Stateandlocalgovernments 37.1 188.8 7 61.2 23FL313020005Federalgovernment 4 1785.8 128.6 1.6 1779.7 177.8 121.1 1966.3 8 65.5 1724.2 129.0 22FL113020005Noncorporate 185.0 1844.6 2649.9 12.5 1.8 21FL103020000Corporate 1692.1 131.3 53.0 1813.6 20FL143020005Nonfinancialbusiness 2191.5 152.7 1671.6 3 8.5 1677.2 139.1 2072.0 1.9 1653.7 515.6 54.3 19FL153020005Householdsector 2027.2 1724.2 132.9 404.0 7.7 1992.3 61.2 2.2 1637.2 18FL793120005Totalassets 140.6 2191.5 382.7 1540.8 62.3 6.8 17FL473127003Creditunions 143.0 2053.7 1433.5 263.9 2015.4 65.7 16FL743127003BanksinU.S.-affiliatedareas 334.3 12.5 1879.7 404.0 15FL753129205Privatedomesticdeposits 27.4 10.5 14FL753122603Depositsduetoforeign 402.4 13FL753127005ForeignbankingofficesinU.S. 17.2 229.1 12FL763129205Privatedomesticdeposits 31.0 399.4 11FL763122605Depositsduetoforeign 10FL763128000Stateandlocalgovernmentdeposits 9FL763123005Federalgovernmentdeposits 8FL763127005U.S.-chartereddepositoryinstitutions 7FL713125005Currencyoutsidebanks 6FL713122605Depositsduetoforeign 5FL713129003Duetootherfinancialbusiness 4FL713124005Duetogovernment-sponsoredenterprises 3FL713123005Federalgovernmentcashanddeposits 2FL713120005Monetaryauthority 1FL793120005Totalliabilities Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.204 CheckableDepositsandCurrency 114

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 27115. 56311. 40211. 72511. 85220 1895.2 19 1619.8 1339.0 1742.5 1211.6 18 1519.7 5750.2 986.0 1400.2 4845.4 1135.9 1619.8 4670.7 1276.2 1516.3 4462.4 1211.6 1257.7 4471.7 1191.7 1247.1 4845.4 1295.0 4583.7 1117.6 4268.3 4123.0 2 2593.2 1 2207.3 5750.2 2154.0 4845.4 2001.4 4670.7 2054.4 4462.4 2207.3 4471.7 2117.6 4845.4 1858.2 4583.7 1896.4 4268.3 4123.0 3. 0. 7. 2. 7. 8. 0. 2. 5. 39 851.2 38 207.1 37 825.2 1058.3 160.6 807.6 985.8 35 161.8 788.5 162.0 969.5 162.2 779.2 125.2 950.7 151.1 825.2 119.0 930.3 160.6 773.9 118.9 985.8 154.1 708.6 108.8 928.0 139.9 638.9 125.2 848.5 128.0 126.2 766.9 119.0 119.2 23 518.9 22 407.2 404.8 386.0 350.2 267.0 21 343.8 1490.4 337.9 337.4 1269.6 407.2 1398.8 332.4 17 1182.3 405.9 224.1 350.2 1067.8 232.0 212.1 326.7 1269.6 404.0 203.8 1189.7 306.0 951.7 192.8 279.3 967.9 193.1 212.1 193.8 172.4 157.1 746. 236. 435. 556. 5. 36 159.3 34 84.3 61.2 33 13.4 44.8 65.5 12.3 31 -25.8 47.9 53.0 12.8 1.2 40.7 54.3 13.5 28 30.4 -30.3 35.1 61.2 13.7 3.2 27 26.1 44.8 62.3 142.4 12.3 25.7 36.0 -31.5 65.7 94.7 14.3 1.2 24.9 40.8 27.4 105.8 18.6 96.2 24.4 37.7 -43.7 20.8 89.3 26.1 22.1 94.7 24.1 29.6 90.7 21.8 91.1 17.1 73.5 14 91.9 15 70.9 145.6 11 117.9 97.7 71.9 122.2 84.5 70.0 127.7 84.7 72.3 118.7 87.0 70.9 117.9 103.3 73.6 74.4 109.8 84.5 75.2 87.1 74.4 65.6 59.4 57.2 ...... 40 1.4 1.9 3.0 2.6 1.9 1.9 2.2 3.2 1.4 6 17.4 5.2 5.2 5.3 5.3 5.2 5.3 5.3 5.2 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

7 F43305 oenetsosrdetrrss59762. 581. 461. 581. 17 16.0 15 2.5 15.8 2.4 11.3 2.1 14.6 13 347.5 12.2 2.2 362.1 12 430.3 15.8 357.4 2.3 423.1 369.0 20.2 410.1 2.4 334.7 7.6 405.8 362.1 2.2 405.1 5.9 302.9 4 Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted 423.1 2.5 40.4 293.2 L.206 MoneyMarketFundShares 403.4 261.7 39.8 2.9 395.5 40.2 3 381.3 20FL263030005Restoftheworld 859.8 38.4 909.1 19FL733030003Holdingcompanies 37.6 18FL613030003Financecompanies 860.1 17FL403030005Government-sponsoredenterprises 39.8 881.7 16FL633030000Moneymarketfunds 868.3 15FL223030043Stateandlocalgovt.retirementfunds 38.5 14FL573030005Privatepensionfunds 909.1 2 38.1 11428.6 819.8 13FL793030005Domesticfinancialsectors 10804.8 42.7 10671.8 821.8 12FL213030000Stateandlocalgovernments 10493.7 10421.0 11FL313030003Federalgovernment 795.9 10804.8 10293.9 10FL113030003Noncorporate 9802.0 9FL103030003Corporate 9575.6 8FL143030005Nonfinancialbusiness 7FL153030005Householdsector 6FL703130005Totalassets 5FL473130005Creditunions 4FL743130003BanksinU.S.-affiliatedareas 3FL753130005ForeignbankingofficesinU.S. 2FL763130005U.S.-chartereddepositoryinstitutions 1FL703130005Totalliabilities Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.205 TimeandSavingsDeposits L2040 Saeadlclgv.rtrmn ud 516. 106. 516. 956. 289 82.8 5 23.9 66.3 6 20.0 59.5 21.7 19.8 61.1 24.7 19.3 4 65.1 25.9 3 141.5 666.4 19.3 66.3 25.5 114.7 558.3 20.0 61.0 112.8 21.9 528.7 19.8 110.9 62.1 24.7 492.2 109.5 21.9 65.1 472.6 22.3 114.7 558.3 21.6 19.6 107.8 466.1 99.8 15.6 499.5 11FL263034003Restoftheworld 90.7 463.9 10FL503034005Otherfinancialbusiness 9FL223034005Stateandlocalgovt.retirementfunds 8FL573034005Privatepensionfunds 7FL543034005Lifeinsurancecompanies 6FL513034005Property-casualtyinsurancecompanies 5FL213034003Stateandlocalgovernments 4FL113034003Nonfinancialnoncorporatebusiness 3FL103034000Nonfinancialcorporatebusiness 2FL153034005Householdsector 1FL634090005Totalassets 17. 17. 20. 28. 22. 22. 28. 28. 30. 6 13505.3 12884.2 12683.4 12523.7 12429.6 12884.2 12200.5 11670.4 1 11371.5 13505.3 12884.2 12683.4 12523.7 12429.6 12884.2 12200.5 11670.4 11371.5 0621 0821 2019 2019 2018 2017 2016 08018. 27314. 28311. 35214. 4268 1492.6 1349.7 7 1315.2 10528.9 1315.2 10150.2 9995.0 1298.3 9824.3 1349.7 9792.8 1267.3 10150.2 1181.4 9623.8 1098.0 9233.8 9078.2 58411. 79020. 88411. 06020. 6772 2647.7 1 2207.4 4338.0 2076.0 3634.3 1915.4 3442.5 1828.4 3205.9 2207.4 3079.4 1799.0 3634.3 1617.9 3038.3 1558.4 2848.4 2731.3 5. 6. 0. 9. 9. 0. 0. 9. 0. 20 704.0 596.8 603.1 607.0 16 239.4 596.6 258.8 596.8 255.8 601.1 258.9 564.6 225.4 550.8 258.8 9 190.6 275.2 178.9 10 199.9 1217.4 142.2 184.8 1149.7 1130.4 203.8 1111.5 201.2 1097.0 199.9 1149.7 5 1080.2 187.2 1176.5 1000.1 181.3 1130.6 909.0 1111.3 189.0 1109.9 1102.6 1130.6 1048.3 1008.6 957.3 1. 2. 3. 9. 3. 4. 7. 9. 3. 10 333.8 290.1 8 173.4 271.0 164.7 247.5 164.2 235.5 163.2 290.1 162.7 234.7 164.7 227.2 162.1 219.8 158.9 158.3 701. 101. 711. 281. 0119 10.1 18 40.3 11.1 36.8 12.8 38.4 14 39.1 16.2 40.5 37.1 17.1 41.1 36.9 11.1 36.8 36.7 11.0 42.8 36.5 13.3 55.8 37.1 17.0 62.3 36.1 35.0 31.4 339. 1. 2. 1. 1. 2. 2. 5. 11 154.6 129.5 7 122.7 92.2 114.3 58.6 112.5 62.0 129.5 110.7 56.6 93.4 52.0 93.3 58.6 55.0 48.2 44.6 ...... 11 1.9 2.3 2.6 2.3 2.1 2.3 2.0 1.9 1.5 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 115 2020

Levels Levels 6 F72515 te iaca ntttos()6. 15221. . . . 720046 0.0 45 44 284.9 284.9 17.2 46.9 64.1 0.0 7.1 7.1 0.7 43 43.6 0.65 44.3 0.0 0.7 1.55 0.7 17.2 46.9 2.04 64.1 2.2 39.7 2.38 41.8 288.1 2.41 31.5 319.6 403.4 37 1.55 468.4 64.9 74.4 2.27 51.4 33 5.3 1.30 36 55.9 153.9 5.0 29 0.54 30 195.2 74.8 0.5 2.4 187.1 4.5 75.4 0.6 2.0 46FL792051115Otherfinancialinstitutions(7) 208.9 45FL632051103Asset:Moneymarketfunds(6) 4.6 51.4 201.6 44FL712151103Liability:Monetaryauthority(5) 0.4 1.7 54.2 195.2 4.9 FederalReserve’sreverserepurchaseagreementoperations: 0.4 1.8 170.6 65.5 43FL072052006Effectivefederalfundsrate(percent)(4) 5.0 195.6 0.2 1.7 48.6 26 Memo: 185.0 4.6 326.6 24 0.6 2.0 42FL902050005Discrepancy 327.2 378.7 4.7 379.0 23 400.8 0.0 1.3 41FL262051005Restoftheworld 309.9 402.9 4.9 381.3 40FL502051003Otherfinancialbusiness 334.3 0.2 1.4 18 381.7 39FL732051003Holdingcompanies 362.7 21 23.6 311.0 38FL662051003Brokersanddealers 331.4 19 364.8 378.7 0.0 148.4 1.4 357.3 11.8 358.5 37FL402052033Ofwhich:FHLBfederalfunds(3) 379.0 317.8 146.8 36FL402050005Government-sponsoredenterprises 335.3 332.3 10.2 319.0 267.2 145.3 334.3 12 376.4 35FL652051003Mutualfunds 268.1 0.0 10.3 192.4 143.4 34FL632051000Moneymarketfunds 362.5 359.4 193.1 145.0 12.1 33FL222051043Stateandlocalgovt.retirementfunds 198.0 0.0 358.5 32FL572051005Privatepensionfunds 146.8 10 197.3 11.8 382.8 31FL542051075Lifeinsurancecompanies 0.3 0.0 144.7 30FL512051005Property-casualtyinsurancecompanies 222.5 14.6 156.7 0.2 29FL472051053Securityrepurchaseagreements 0.0 218.5 39.6 28FL472052053Federalfunds 154.9 27FL472050053Creditunions 0.2 0.0 90.3 26FL752051005Securityrepurchaseagreements 0.2 25FL752052005Federalfunds(2) 0.0 8 24FL752050005ForeignbankingofficesinU.S. 571.5 6 0.2 0.0 23FL762051005Securityrepurchaseagreements 597.2 530.8 22FL762052005Federalfunds(2) 5 0.2 550.0 507.1 21FL762050005U.S.-chartereddepositoryinstitutions 0.0 142.1 526.5 489.8 0.2 20FL712051000Monetaryauthority 128.4 0.0 3 510.8 461.9 135.7 19FL212051003Stateandlocalgovernments 191.1 0.4 488.3 530.8 18FL102051003Nonfinancialcorporatebusiness 108.3 167.0 550.0 485.7 0.4 17FL892050005Totalassets 103.2 180.3 503.6 524.5 128.4 153.9 16FL262151003Restoftheworld 552.5 439.6 102.8 152.0 15FL732151003Holdingcompanies 473.3 14FL662151003Brokersanddealers 124.3 167.0 13FL642151073REITs 129.6 143.1 12FL402150005Government-sponsoredenterprises 170.4 11FL542151073Lifeinsurancecompanies 10FL512151003Property-casualtyinsurancecompanies 162.6 9FL472150053Creditunions 8FL752151005Securityrepurchaseagreements 7FL752152005Federalfunds(2) 6FL752150005ForeignbankingofficesinU.S. 5FL762151005Securityrepurchaseagreements 4FL762152005Federalfunds(2) 3FL762150005U.S.-chartereddepositoryinstitutions 2FL712151003Monetaryauthority 1FL892150005Totalliabilities Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.207 FederalFundsandSecurityRepurchaseAgreements(1) 116 (7) Includesbanks(consolidated), government-sponsoredenterprises,and primarydealers. (6) Includedinline34. (5) Includedinline2. (4) Theeffectivefederalfundsrateisaweighted averageofratesonbrokeredtrades.Annualizedusinga360-dayyear. (3) Includestermfederalfunds. (2) Excludestermfederalfunds. 1997:Q1forcreditunions,and2000:Q1FHLB. (1) Detaileddataonfederalfundsandsecurityrepurchase agreementsareavailablebeginning2012:Q1forU.S.-chartereddespositoryinstitutions, 2003:Q1forforeignbankingofficesinU.S.,

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 12710. 35219. 38516. 46519. 42938 1482.9 1396.0 1466.5 1363.2 1318.5 1396.0 1315.2 1109.0 1112.7 17 5500.5 5063.5 5102.4 4796.9 14 4537.9 1815.9 5063.5 1755.0 4400.7 1873.7 4065.4 1781.4 3825.3 1689.3 1755.0 1698.4 1392.5 1313.1 1 4748.7 4356.1 4508.2 4268.1 4039.1 4356.1 3895.5 3838.2 3811.2 7. 02699712. 06115. 03712. 15441 1175.4 1023.3 1063.7 1056.7 1036.1 1023.3 939.7 34 1002.6 1468.4 971.5 1175.1 1172.5 1133.1 980.1 1175.1 1019.5 956.5 801.6 16 1281.4 13 1150.1 266.6 1220.3 379.6 1094.6 373.1 1092.0 1150.1 368.8 914.6 338.3 872.6 379.6 905.4 307.6 264.3 209.4 2 569.1 336.6 313.4 335.4 255.3 336.6 304.0 564.0 725.2 1. 272-0. 774-9. 588-9. 774-5. 42 -751.8 -707.4 -594.2 -528.8 -498.8 -707.4 -505.2 -227.2 -14.2 419. 1712815117112412813035 103.0 102.8 102.4 107.1 105.1 102.8 81.7 98.0 22 84.1 21.5 24.2 21.4 19.0 24.1 24.2 20.3 24.4 11 21.2 27.1 17.5 20.8 7 25.7 23.2 19.2 23.5 4 49.1 19.4 17.5 38.7 20.9 24.1 44.5 26.4 21.4 45.6 19.2 21.6 48.9 17.9 38.7 28.0 40.3 33.8 46.2 33.0 ...... 40 0.0 39 2.1 0.0 2.1 0.0 1.2 0.0 1.3 0.0 32 1.5 3.2 31 9.8 0.0 2.1 3.1 6.3 0.0 28 1.7 3.1 0.3 27 5.7 0.8 0.0 5.7 3.1 0.3 25 4.7 0.8 0.0 0.6 2.3 3.1 0.4 3.3 0.8 0.3 3.1 0.3 6.3 0.7 2.1 3.0 0.3 2.2 0.6 0.4 2.9 0.3 2.0 0.8 20 2.1 262.7 2.6 0.1 2.5 0.2 255.6 0.3 0.0 202.5 0.2 1.2 15 0.0 0.0 0.0 0.0 0.9 0.0 0.0 0.6 255.6 0.0 0.0 9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.0 0.0 0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

7 F44205 oenetsosrdetrrss42644047045446742245745447747 477.7 465.4 455.7 432.2 416.7 36 465.4 34.0 42 407.0 39 1112.7 33.6 3979.3 404.0 1060.3 41 4018.9 55LM904022005Discrepancy(3) 2181.1 31.1 1054.4 35 442.6 3995.9 2177.0 340.1 1048.5 54LM264022005Restoftheworld 3859.4 28.7 2073.4 1031.4 38 308.9 3685.2 1190.8 1738.4 53FL504022005Otherfinancialbusiness 1060.3 20.8 4018.9 334.4 52LM734022605Holdingcompanies 1192.8 1810.1 988.7 3502.6 51LM664022005Brokersanddealers 1194.3 2177.0 33.6 29 325.6 3585.8 955.0 87.6 34 1177.6 2061.9 50FL644022005REITs 312.9 3407.3 4272.1 19.5 892.9 1154.4 1753.7 49LM613063003Financecompanies 86.3 31 4083.5 308.9 1192.8 28 1836.6 48FL674022005ABSissuers 32 1470.2 14.7 4057.4 362.4 30626.7 47FL404022005Government-sponsoredenterprises 1118.6 84.8 1438.5 318.1 28879.4 3927.8 326.0 1097.2 28355.9 13.0 1400.6 46LM564022005Exchange-tradedfunds 303.3 3846.4 27258.0 83.4 1064.2 1378.0 45LM554022005Closed-endfunds 322.0 26800.2 4083.5 273.1 28879.4 44LM654022005Mutualfunds 1406.4 82.3 26 3759.5 278.8 26292.3 43FL634022005Moneymarketfunds 1438.5 7105.0 25882.4 3757.4 254.1 24810.3 86.3 1407.5 7399.0 42LM224022045Stateandlocalgovt.retirementfunds 3637.7 1503.9 7406.8 41LM344022005Federalgovernmentretirementfunds 326.0 81.1 40LM574022005Privatepensionfunds 1490.1 7270.7 253.2 39LM544022005Lifeinsurancecompanies 7043.9 75.1 38LM514022005Property-casualtyinsurancecompanies 236.0 7399.0 6882.8 68.1 15 206.7 37LM474022005Creditunions 46.5 6293.2 36LM744022003BanksinU.S.-affiliatedareas 35LM754022005ForeignbankingofficesinU.S. 6187.7 38.4 34LM764022005U.S.-chartereddepositoryinstitutions 33LM714022005Monetaryauthority 39.7 32FL794022005Domesticfinancialsectors 14 38.6 218.3 16 31LM214022005Stateandlocalgovernments 7318.1 37.9 30FL314022005Federalgovernment 17 209.2 7002.2 2431.6 29LM114022005Nonfinancialnoncorporatebusiness 209.5 6952.7 9 2407.3 28LM104022005Nonfinancialcorporatebusiness 38.4 12 27LM154022005Householdsector 6901.8 13 3074.2 210.2 2370.2 230.3 15208.2 40.8 6808.4 3068.2 2341.5 14715.9 213.1 26FL384022005Domesticnonfinancialsectors 235.6 7002.2 14633.0 3034.3 2315.8 38.1 14531.2 214.2 10 209.2 6797.3 3037.4 2407.3 25FL894022005Totalassets 14369.7 6781.6 14715.9 6716.3 3055.0 214.6 2292.6 49.2 247.5 6559.5 14281.8 24LM264122005Restoftheworld 6563.2 3068.2 2126.8 13941.4 215.3 6589.7 223.2 13633.2 3059.4 1933.0 23FL504122005Otherfinancialbusiness 6514.8 213.1 277.5 3110.5 8 22FL734122005Holdingcompanies 6437.4 3110.9 21FL663163003Brokersanddealers 216.4 29605.6 6559.5 28880.7 20FL644122005REITs 218.6 28431.3 6298.6 27603.0 19FL614122005Financecompanies 6158.3 217.0 27636.3 18FL674122005ABSissuers 28880.7 5837.8 6 17FL413065005Agency-andGSE-backedmortgagepools 27439.4 4 14119.3 25942.7 16FL403161705Government-sponsoredenterprises 9770.9 14033.1 25174.0 15FL753169175ForeignbankingofficesinU.S. 13943.6 9430.7 14FL764122005U.S.-chartereddepositoryinstitutions 13733.4 9344.4 13490.0 14033.1 13FL794122005Domesticfinancialsectors 9265.3 13298.8 9146.5 13067.8 12FL213162005Stateandlocalgovernments 12337.8 9430.7 11FL314122005Federalgovernment 9112.9 10FL104122005Nonfinancialcorporatebusiness 8867.4 9FL163162003Nonprofitorganizations(2) 8520.6 8FL384122005Domesticnonfinancialsectors 7FL894122005Totalliabilities Bysector 6FL893163005Corporateandforeignbonds 5FL383162005Municipalsecurities 4FL893161705Agency-andGSE-backedsecurities 3FL313161105Treasurysecurities 2FL893169175Openmarketpaper 1FL894122005Totaldebtsecurities Byinstrument Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.208 DebtSecurities(1) (3) Theaccumulatedvaluation differencebetweenissuanceandholdings. (2) Liabilityofthehouseholds andnonprofitorganizationssector(tables L.101andB.101). (1) Sumofopenmarket paper, Treasurysecurities,agency-andGSE-backed securities,municipalandcorporate andforeignbonds. 06. 14. 17. 21. 17. 18. 24. 21. 28. 54 12088.9 12112.3 12141.2 11883.5 11578.0 12112.3 11177.5 11341.9 10661.1 25 49820.5 48390.7 47903.8 46412.3 45422.0 48390.7 44352.6 43517.6 41659.1 11 19539.6 19039.9 18593.1 17836.3 17928.5 19039.9 17865.0 16455.3 7 16008.3 48361.6 47386.0 46752.4 45724.3 45449.8 47386.0 45088.2 43228.1 3 41608.4 19518.4 19018.7 18571.7 1 17814.3 48361.6 17906.3 47386.0 19018.7 46752.4 17842.1 45724.3 16430.9 45449.8 15983.8 47386.0 45088.2 43228.1 41608.4 0621 0821 2019 2019 2018 2017 2016 07141. 51858. 73241. 05158. 99844 4959.8 43 2568.7 5186.3 2181.3 5075.1 2029.8 4914.9 40 1798.9 4733.2 1837.3 1895.1 5186.3 1745.7 2181.3 4541.8 1732.9 1862.3 4514.5 1669.3 1680.7 4077.1 1594.2 1748.7 1745.7 33 1511.0 5312.9 1391.2 4011.9 1231.6 3897.9 3900.4 3953.9 4011.9 27 3982.6 5184.3 4448.3 5547.8 4445.6 5598.9 5530.1 5300.5 24 3547.7 5547.8 3789.5 5140.6 22 3688.1 4477.7 1542.5 3590.1 4422.3 1449.6 3443.8 1471.9 3789.5 1479.2 18 3366.9 1441.2 1239.4 3344.0 1449.6 1202.7 2801.2 1401.7 1190.0 1448.6 1157.2 1375.7 1157.1 1202.7 1147.5 1152.2 1208.6 5 3864.2 3858.3 3817.9 3820.9 3835.8 3858.3 3838.4 3896.0 3881.3 3. 9. 7. 7. 0. 8. 9. 7. 0. 53 204.8 51 172.2 470.4 50 198.2 412.6 253.9 288.4 449.7 386.3 304.9 449.7 383.6 46 172.2 434.0 377.2 830.0 45 278.5 151.9 412.6 355.0 825.0 292.4 171.4 443.9 386.3 789.6 231.4 171.1 306.1 324.5 745.4 169.3 305.6 297.6 692.7 166.7 240.9 825.0 171.4 636.1 37 161.0 233.3 556.5 168.0 221.3 429.1 163.0 216.8 215.9 213.4 221.3 201.8 213.0 217.5 23 780.9 21 859.0 256.9 20 528.1 846.2 174.0 19 538.1 830.7 845.9 183.3 519.3 849.6 835.4 205.9 501.2 859.0 850.0 181.9 482.9 821.2 844.9 174.0 538.1 776.5 859.2 184.0 470.0 793.4 835.4 185.7 439.0 879.2 129.1 417.3 835.1 886.3 2 1088.8 1045.2 1074.9 1090.4 1071.2 1045.2 996.0 965.9 884.9 5. 296756-0472. 680-114-047-49055 -1459.0 -1004.7 -1151.4 -688.0 27.7 -1004.7 735.6 -289.6 -50.7 876. 7412010910718612013452 123.4 49 60.4 132.0 48 32.0 128.6 60.0 33.0 110.7 56.7 100.9 29.1 53.1 132.0 26.5 54.1 97.4 24.3 60.0 67.2 33.0 55.3 58.7 20.4 63.8 12.3 73.1 20.5 ...... 30 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 117 2020

Levels Levels 1 F43615 oenetsosrdetrrss59646971766969718231 8.2 7.1 6.9 6.9 28 57.1 7.6 23 25 57.7 0.0 6.9 7.1 51.4 0.0 9.7 22 6.9 27.5 52.9 20 0.0 9.0 6.4 0.0 68.9 56.6 0.0 10.1 69.7 5.9 57.7 0.0 17 0.0 10.6 68.9 0.0 52.8 0.0 16 9.7 68.0 0.0 19 54.0 0.0 0.0 255.0 0.0 68.8 9.2 56.2 246.0 0.0 0.0 0.0 34LM263069103Restoftheworld 0.0 69.7 241.6 11.4 0.0 0.0 33FL503069105Otherfinancialbusiness 0.0 192.9 0.0 68.6 32FL663069103Brokersanddealers 20.3 14 159.2 0.0 31FL403069105Government-sponsoredenterprises 0.0 142.0 0.0 74.3 0.0 246.0 30FL653069100Mutualfunds 145.6 0.0 73.5 0.0 9 29FL633069175Moneymarketfunds 162.1 0.0 150.5 46.5 123.7 0.0 28FL223069143Stateandlocalgovt.retirementfunds 0.0 166.0 8 27FL573069105Privatepensionfunds 38.4 132.5 169.3 72.8 0.0 0.0 26FL543069105Lifeinsurancecompanies 39.7 145.6 25FL513069105Property-casualtyinsurancecompanies 68.2 0.0 151.4 38.6 0.0 24FL473069153Creditunions 68.6 142.1 23FL753069603ForeignbankingofficesinU.S.(1) 37.9 0.0 22FL763069175U.S.-chartereddepositoryinstitutions(1) 79.0 136.1 21FL713069603Monetaryauthority 38.4 3 81.6 244.1 20FL213069103Stateandlocalgovernments 40.8 195.3 68.2 19FL103069100Nonfinancialcorporatebusiness 38.1 216.6 87.5 18FL893169175Totalassets 236.6 49.2 75.5 17FL753169603ForeignbankingofficesinU.S. 241.1 16FL763169603U.S.-chartereddepositoryinstitutions 94.7 195.3 15FL703169605Bankers’acceptances(1) 196.5 14FL503169105Otherfinancialbusiness 206.7 13FL733169103Holdingcompanies 180.8 12FL643169173REITs 11FL613169100Financecompanies 10FL673169105ABSissuers 9FL753169103ForeignbankingofficesinU.S. 8FL763169103U.S.-chartereddepositoryinstitutions 7FL793169100Financialbusiness 6FL263169123Financial 5FL263169110Nonfinancial 4FL263169105ForeignissuesinU.S. 3FL103169100Nonfinancialcorporatebusiness 2FL893169105Commercialpaper 1FL893169175Totalliabilities Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.209 OpenMarketPaper 118 (1) Excludesbanks’holdingsofownacceptances.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 4. 3. 2. 3. 2. 1. 3. 3. 2. 34 122.1 33 130.1 123.0 136.8 101.3 114.2 124.2 29 122.0 215.3 225.4 130.1 232.7 237.2 124.1 101.3 241.9 135.4 207.7 231.7 140.8 219.8 216.3 162.4 237.2 193.7 152.6 109.7 18 1088.8 1045.2 1074.9 1090.4 1071.2 1045.2 996.0 965.9 7 884.9 403.0 6 397.1 377.8 4 402.1 395.0 441.7 440.0 389.0 452.8 442.5 340.1 456.2 397.1 323.5 413.9 2 431.2 395.0 1088.8 387.7 1 397.2 1045.2 316.8 452.8 1088.8 1074.9 434.0 316.9 1045.2 368.3 1090.4 1074.9 225.5 1071.2 362.0 1090.4 1045.2 270.1 1071.2 996.0 1045.2 965.9 996.0 884.9 965.9 884.9 38931. . 391. 38852. 32 20.7 8.5 13.8 30 12.0 103.0 27 41.9 102.8 13.9 26 102.4 27.8 45.6 8.5 107.1 28.8 45.3 11.4 105.1 32.2 45.0 102.8 9.3 33.8 44.8 81.7 13.8 33.4 45.6 98.0 28.8 44.3 84.1 33.1 42.9 38.1 39.1 46.6 11 62.8 10 73.4 63.5 75.7 59.8 79.6 5 65.4 63.9 84.6 64.7 57.8 82.7 63.5 67.2 75.7 64.6 73.8 80.9 72.2 64.2 65.0 71.4 57.8 80.3 51.5 45.1 44.6 ...... 24 1.2 21 0.7 0.0 0.4 0.0 0.4 0.0 0.3 0.0 0.7 0.0 15 0.0 0.2 0.0 13 0.0 5.4 12 0.0 0.0 0.0 0.0 5.9 0.0 0.0 0.0 0.0 3.8 0.0 0.0 0.0 6.4 0.0 0.0 6.2 0.0 0.0 5.9 0.0 0.0 5.9 0.0 0.0 4.4 0.0 2.2 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

5 L23610 OhrTesr euiis53. 58151. 99150. 92762. 99169. 55 6093.5 5989.1 6026.8 5932.7 5709.5 49 185.7 5989.1 5519.1 171.3 5508.1 153.9 46 5333.9 43 1172.3 139.9 450.5 1255.0 125.7 414.5 1212.2 171.3 1141.0 331.3 1114.7 39 115.7 288.6 279.5 1255.0 101.3 298.8 1053.1 40 262.5 417.3 102.4 1004.7 414.5 255.1 845.5 383.3 56LM903061103Discrepancy(4) 36 282.6 54.7 207.2 384.6 241.4 55LM263061120OtherTreasurysecurities 173.7 50.6 54LM263061110Treasurybills 399.6 382.8 33 53LM263061105Restoftheworld 172.9 219.4 390.6 262.5 164.1 52LM733061103Holdingcompanies 206.0 37 383.3 263.4 2156.6 51LM663061105Brokersanddealers 157.0 204.4 50FL673061103ABSissuers 372.8 79.0 2150.2 49FL403061105Government-sponsoredenterprises 26 173.7 2047.1 196.4 289.4 14.7 48LM563061103Exchange-tradedfunds 231.8 1713.1 152.1 47LM553061103Closed-endfunds 194.3 218.8 1786.2 16.6 136.6 206.0 46LM653061125OtherTreasurysecurities 2150.2 28 14.0 45LM653061113Treasurybills 124.6 2039.2 195.0 25 168.4 44LM653061105Mutualfunds 116.4 1730.1 215.3 14.4 153.4 1814.4 121.1 43FL633061120OtherTreasurysecurities 205.9 152.2 42FL633061110Treasurybills 11.3 24 132.3 41FL633061105Moneymarketfunds 724.7 157.0 16.6 129.6 23 20 704.1 40LM223061143Stateandlocalgovt.retirementfunds 3431.5 157.4 639.9 128.0 10.2 674.5 2372.3 153.4 39LM343061155Definedcontributionplans 633.7 18 121.1 2360.5 16 38LM343061165Definedbenefitplans 724.3 592.2 17 5.0 156.8 66.3 627.6 80.6 2315.0 37LM343061105Federalgovernmentretirementfunds(3) 125.6 711.5 563.8 2330.2 149.6 620.2 45.4 3.1 97.4 79.3 36LM573061133Definedcontributionplans 681.4 704.1 2372.3 114.9 35LM573061143Definedbenefitplans 626.5 2338.0 45.9 94.0 78.0 668.1 569.8 34LM573061105Privatepensionfunds 633.7 2633.0 14 15 688.5 484.4 50.1 33LM543061125OtherTreasurysecurities 76.7 2640.7 150.0 625.1 1312.7 11 32LM543061115Treasurybills 711.5 528.4 1744.6 33.8 151.3 57.0 640.1 31LM543061105Lifeinsurancecompanies 75.7 1853.8 691.3 152.4 633.0 32.7 9 45.4 30LM513061125OtherTreasurysecurities 1829.0 79.3 732.5 267.4 29LM513061115Treasurybills 153.4 1734.8 36.9 54.4 28LM513061105Property-casualtyinsurancecompanies 742.7 74.5 1744.6 250.8 154.5 8 1543.9 37.3 27LM473061105Creditunions 71.3 243.4 69.0 151.3 84.4 971.0 26LM743061103BanksinU.S.-affiliatedareas 43.5 37.4 25LM753061103ForeignbankingofficesinU.S. 155.8 41.2 5 63.0 927.9 77.8 24LM763061100U.S.-chartereddepositoryinstitutions 8.8 160.5 40.1 32.7 53.8 23LM713061125OtherTreasurysecurities 10 165.9 6 8.8 250.8 22LM713061113Treasurybills 36.6 1867.0 47.9 2402.6 21LM713061103Monetaryauthority 1877.2 253.4 37.0 2389.8 8.8 1781.5 62.0 20LM213061103OtherTreasurysecurities 68.7 2268.0 1647.9 19FL213061120SLGS(line8) 38.1 1930.0 8.8 77.8 18LM213061105Stateandlocalgovernments 1723.5 222.3 2017.6 1877.2 17LM113061003Nonfinancialnoncorporatebusiness 66.2 2389.8 2 10.3 1763.9 16LM103061103Nonfinancialcorporatebusiness 4 2275.9 17115.8 1637.6 92.4 16628.9 8.8 14449.9 1996.3 1567.6 16303.7 15LM153061185OtherTreasurysecurities 14203.7 15884.3 2103.6 14FL313161400U.S.savingssecurities(line7) 13918.5 109.8 15888.7 10.3 13625.1 13LM153061105Householdsector 16628.9 13399.0 15566.2 14203.7 11.5 12FL893061105Totalassets 14434.6 13216.5 13880.2 12470.6 12051.5 11FL313161375Othernonmarketablesecurities 13.0 10FL343061145Federalgovt.definedbenefitpensionplans 9FL343061123ThriftSavingsPlanGFund 8FL213061120Stateandlocalgovernmentseries(SLGS) 7FL313161400U.S.savingssecurities 6FL313161305NonmarketableTreasurysecurities 5FL313161283HeldintheCivilServiceRetirementFund(2) 4FL313161275OtherTreasurynotes,bonds,andTIPS 3FL313161110Treasurybills 2FL313161205MarketableTreasurysecurities 1FL313161105Totalliabilities Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.210 TreasurySecurities(1) (4) Theaccumulatedvaluation differencebetweenissuanceandholdings. (3) ComprisedprimarilyofnonmarketableTreasury securities. (2) Long-termmarketablesecuritiesissuedtothe CivilServiceRetirementFundbytheFederalFinancingBank.Thesesecuritiesarenotcurrently tradedinthemarket. opposedtointragovernmentalholdingsasreported ontheMonthlyStatementofPublicDebt. IntheFinancialAccounts,nonmarketablegovernment securitiesheldbyfederalgovernmentemployeedefinedbenefitretirementfundsareconsidered partofthefinancialbusinesssectoras (1) IncludesmarketableandnonmarketableTreasury securitiesheldbythepublic(netofpremiumsanddiscounts)Treasury federalgovernmentemployeeretirementfunds. 56. 61. 78. 99. 71. 85. 90. 99. 01. 12 20619.2 19292.2 19000.0 18058.5 17911.4 19292.2 17687.4 16413.0 15965.1 1 19518.4 19018.7 18571.7 17814.3 17906.3 19018.7 17842.1 16430.9 15983.8 0621 0821 2019 2019 2018 2017 2016 02861. 24969. 43364. 76969. 83153 6813.1 6695.3 6776.9 6640.5 6473.3 6695.3 6264.9 6211.3 6002.8 38 1877.1 1887.7 1791.9 1658.4 1735.5 1887.7 1775.8 1651.1 1582.6 21 3757.4 2540.7 2366.5 2315.0 2330.2 2540.7 2338.0 2633.0 2640.7 13 1462.7 1896.0 2006.2 1982.4 1889.4 1896.0 1699.7 1131.5 1093.8 3 2657.1 2416.4 2376.4 2250.4 2479.4 2416.4 2339.4 1952.5 1815.7 6. 0. 4. 0. 6. 0. 5. 0. 1. 54 719.6 706.2 51 750.1 258.3 707.8 229.5 763.8 238.3 706.2 258.9 745.8 261.0 703.1 229.5 668.9 276.4 42 44 817.3 1233.2 144.6 41 1310.9 622.0 122.6 1267.8 1268.2 614.3 1036.5 1204.1 945.6 454.8 1175.2 743.5 1310.9 580.7 1146.4 879.5 622.0 1090.8 35 1036.5 590.9 330.4 904.1 34 873.5 537.7 461.4 294.4 702.9 468.2 414.9 297.1 797.6 31 470.1 284.3 243.6 448.4 268.9 215.3 425.9 294.4 214.3 468.2 253.9 206.4 406.0 214.3 203.6 350.9 179.5 215.3 304.1 203.7 228.3 19 84.4 219.3 77.8 53.8 47.9 62.0 77.8 66.2 92.4 109.8 7 150.0 151.3 152.4 153.4 154.5 151.3 155.8 160.5 165.9 871. 5. 236-. 242-2. 236-10856 -1100.8 -273.6 -428.3 50 -244.2 32.0 -5.1 33.0 -273.6 29.1 48 154.7 45 263.0 60.9 26.5 17.9 231.8 55.9 24.3 18.7 226.8 56.1 214.6 33.0 193.0 63.1 20.4 231.8 60.6 12.3 178.7 55.9 20.5 122.1 93.2 94.7 86.1 32 24.2 58.6 9.3 9.9 29 51.3 10.0 30 117.1 37.4 27 38.6 9.3 116.0 36.9 37.5 115.3 9.3 44.5 112.5 34.9 8.7 49.5 107.9 34.2 116.0 37.4 13.0 33.8 110.6 46.2 13.4 37.5 90.8 58.8 31.1 82.6 32.3 29.3 28.6 . 223. 823. 965. 825. 52 54.3 47 2.7 58.2 55.9 3.2 39.6 3.5 34.3 3.7 58.2 3.6 34.8 3.2 22.2 9.8 3.5 3.7 3.6 22 325.9 168.5 6.0 0.0 0.0 168.5 0.0 0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 119 2020

Levels Levels 2 F43675 oenetsosrdetrrss27427622528221924825428226322 18 266.3 10.3 268.2 13 10.7 7.2 275.4 19 10.6 166.8 264.8 8.0 147.7 10.1 261.9 12 7.8 59.4 148.3 268.2 9.6 15 154.0 262.5 8.4 53.2 153.0 10.7 150.6 267.6 149.7 52.1 8.2 147.7 287.4 9.2 142.8 28LM903061703Discrepancy(2) 45.5 9 143.7 8.0 7 136.7 9.3 27LM263061705Restoftheworld 474.1 22.1 41.6 109.5 133.7 456.6 8.0 26LM733061703Holdingcompanies 11 100.4 8.7 15.1 53.2 2582.8 149.7 25LM663061703Brokersanddealers 451.7 2408.2 1.5 127.0 15.3 42.9 445.8 24FL643061773REITs 2411.1 23FL673061703ABSissuers 115.1 2363.2 450.9 16.7 1.5 45.7 2293.1 108.0 22FL403061705Government-sponsoredenterprises 456.6 19.0 21.1 2408.2 21LM653061703Mutualfunds 449.7 20FL633061700Moneymarketfunds 2239.3 15.1 2207.4 482.8 19LM223061743Stateandlocalgovt.retirementfunds 2058.0 18LM343061705Federalgovernmentretirementfunds 18.1 462.1 3 17LM573061705Privatepensionfunds 7318.1 23.8 4 16LM543061705Lifeinsurancecompanies 7002.2 2431.6 15LM513061705Property-casualtyinsurancecompanies 13.7 6952.7 2407.3 6901.8 2370.2 14LM473061705Creditunions 6808.4 13LM743061703BanksinU.S.-affiliatedareas 2341.5 12LM753061703ForeignbankingofficesinU.S. 7002.2 2315.8 11LM763061705U.S.-chartereddepositoryinstitutions 6797.3 2407.3 6716.3 2292.6 10LM713061705Monetaryauthority 6563.2 2126.8 9LM213061703Stateandlocalgovernments 1933.0 8FL313061703Federalgovernment 7LM103061703Nonfinancialcorporatebusiness 6LM153061705Householdsector 5FL893061705Totalassets 4FL413065005Agency-andGSE-backedmortgagepools 3FL403161705Government-sponsoredenterprises 2FL313161705Budgetagencies 1FL893161705Totalliabilities Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.211 Agency-andGSE-BackedSecurities(1) 120 (2) Theaccumulatedvaluationdifferencebetweenissuanceandholdings. consideredofficiallytobepartofthetotaldebtfederalgovernment,whichisshownontableL.106,line20. andagency-GSE-backedmortgagepoolsecuritiesissuedbyGinnieMae,FannieFreddieMac,theFarmersHomeAdministration(line4).Onlybudgetagencyissuesare (1) Agency-andGSE-backedsecuritiesinclude:issuesoffederalbudgetagencies(line2)suchasthosefortheTVA;governmentsponsoredenterprises3)FannieMae FHLB;

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 84911. 64617. 63718. 51517. 55510 1555.5 1471.1 1531.5 1585.3 1623.7 1471.1 5 1644.6 10176.3 1815.3 9629.0 1804.9 9556.3 9412.2 1 9178.8 9770.9 9629.0 9430.7 9041.1 9344.4 8906.6 9265.3 8530.0 9146.5 9430.7 9112.9 8867.4 8520.6 9. 02217. 10511. 11617. 10516. 27 1264.6 24 1180.5 219.0 1170.8 334.5 1151.6 21 1117.6 335.4 584.7 20 1180.5 328.1 931.1 654.0 1077.9 305.7 755.1 1012.2 632.7 991.6 17 334.5 696.0 608.6 297.2 273.7 676.3 16 584.6 259.1 407.1 255.3 655.7 654.0 256.1 388.4 200.7 14 755.1 603.6 247.4 173.9 391.4 644.9 600.0 237.8 165.0 384.6 682.2 594.9 259.1 164.7 375.4 680.4 225.3 164.5 388.4 193.6 162.8 364.9 168.1 165.0 386.6 6 155.3 372.8 837.3 168.0 754.9 172.3 710.5 672.5 621.0 754.9 636.9 449.5 390.1 502. 154. 404. 294. 1926 41.9 44.9 25 122.2 42.9 104.1 43.9 109.4 104.2 44.0 82.0 44.9 104.1 41.5 72.3 27.3 54.1 25.0 68.2 2 21.2 21.2 21.5 22.0 22.2 21.2 22.9 24.4 24.5 94-917. 183-23-4. 219-9. 45428 -405.4 -198.3 -211.9 -146.9 -32.3 -198.3 71.8 -39.1 -9.4 ...... 23 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

4 F43605 oenetsosrdetrrss58463933383633333224 3.2 3.3 3.3 19 3.6 2.4 18 0.0 3.8 3.2 0.1 14 1.2 3.3 3.2 13 0.0 0.0 1.2 3.9 3.2 0.1 0.0 1.2 4.6 3.2 0.1 11 0.0 16 15.1 10 1.2 5.8 281.1 3.2 7.0 0.1 0.0 285.2 15.0 1.2 9 4.1 6.9 289.4 12 0.0 14.8 0.0 19.0 482.9 1.2 291.0 3.4 6.8 14.6 19.3 471.7 0.1 27LM903062003Discrepancy(3) 0.0 293.0 1.2 469.9 2.6 6.7 14.8 19.2 285.2 26FL263062003Restoftheworld 0.1 0.0 476.1 1.3 291.6 15.0 19.1 25LM663062003Brokersanddealers 6.6 491.1 0.0 24FL403062005Government-sponsoredenterprises 338.9 5 14.7 1.7 18.9 6 471.7 6.9 210.2 350.7 23LM563062003Exchange-tradedfunds 579.8 0.0 16.0 19.3 498.8 22LM553062003Closed-endfunds 213.1 6.5 577.0 21LM653062003Mutualfunds 572.6 15.8 18.5 20FL633062000Moneymarketfunds 214.2 569.4 544.9 6.0 214.6 19LM223062043Stateandlocalgovt.retirementfunds 17.2 569.0 18LM343062033Federalgovernmentretirementfunds 215.3 2 565.4 5.1 19.3 3074.2 17LM543062005Lifeinsurancecompanies 213.1 577.0 16LM513062005Property-casualtyinsurancecompanies 3068.2 216.4 3034.3 562.6 15LM473062005Creditunions 218.6 3037.4 566.9 14LM743062003BanksinU.S.-affiliatedareas 3055.0 217.0 13LM753062003ForeignbankingofficesinU.S. 553.4 3068.2 12LM763062000U.S.-chartereddepositoryinstitutions 3059.4 11LM213062003Stateandlocalgovernments 3110.5 3110.9 10LM113062003Nonfinancialnoncorporatebusiness 9LM103062003Nonfinancialcorporatebusiness 8LM153062005Householdsector 7FL893062005Totalassets (industrialrevenuebonds) 6FL103162000Nonfinancialcorporatebusiness 5FL163162003Nonprofitorganizations(2) 4FL213162200Long-term 3FL213162400Short-term(1) 2FL213162005Stateandlocalgovernments 1FL383162005Totalliabilities Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.212 MunicipalSecurities (3) Theaccumulatedvaluationdifferencebetweenissuanceandholdings. (2) Liabilityofthehouseholdsandnonprofitorganizationssector(tablesL.101B.101). (1) Debtwithoriginalmaturityof13monthsorless. 0621 0821 2019 2019 2018 2017 2016 89519. 81019. 84810. 82119. 8438 1864.3 7 1893.5 4087.1 1892.1 4149.0 1900.2 4113.7 1894.8 4087.8 1893.5 4 4049.5 1861.0 3031.3 4149.0 1890.2 3023.5 3978.5 1879.5 2994.4 4124.3 1 3000.9 4030.3 3864.2 3016.0 3858.3 3023.5 3817.9 3021.4 3820.9 3075.4 3835.8 3080.6 3858.3 3838.4 3896.0 3881.3 190-2. 101-9. 237-6. 257-9. 23027 -223.0 -290.7 -295.7 -266.9 -213.7 -290.7 -140.1 -228.3 -149.0 3. 8. 9. 3. 3. 7. 0. 3. 0. 21 802.1 20 130.7 831.0 134.0 805.2 130.3 773.4 17 135.8 212.0 737.2 135.0 215.0 831.0 134.0 210.7 693.6 142.8 204.8 688.1 134.4 198.4 632.2 154.3 215.0 190.0 197.8 185.2 102. 071. 641. 041. 3725 13.7 26 107.1 16.4 23 105.3 49.3 22 89.8 20.4 104.1 49.3 93.2 18.4 102.0 45.4 101.2 93.4 16.4 42.0 105.3 91.0 16.4 100.8 39.0 89.8 20.7 101.3 49.3 93.2 26.7 94.2 37.0 88.4 21.0 30.8 90.0 24.8 88.0 3 42.9 44.7 40.0 36.5 39.1 44.7 38.1 35.0 30.2 ...... 15 6.1 5.5 4.5 4.8 4.8 5.5 4.8 5.1 5.1 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 121 2020

Levels Levels 7 F43605 oenetsosrdetrrss4. 411. 551. 691. 551. 37 14.3 15.5 16.2 16.9 31 17.6 14.2 15.5 16.1 32 469.1 18.1 15.8 468.4 48LM903063003Discrepancy(5) 24.1 466.8 15.1 47LM263063095Other 20 41.1 46LM263063603MBSandotherABS 438.6 27 10.9 14.3 3088.8 45LM263063005Restoftheworld(4) 430.3 3171.4 7.8 16.1 44FL503063005Otherfinancialbusiness 468.4 3147.3 24 43LM733063003Holdingcompanies 3029.8 581.4 13.4 8.0 42LM663063005Brokersanddealers 415.3 2874.4 594.8 498.8 14.2 41FL643063005REITs 3171.4 4.7 601.0 40LM613063003Financecompanies 514.9 2710.9 19 13.5 39FL403063095Other 164.3 2735.0 582.9 0.1 38FL403063605MBSandotherABS 134.6 2583.3 37FL403063005Government-sponsoredenterprises 559.7 7.8 150.0 594.8 36LM563063003Exchange-tradedfunds 15 35LM553063003Closed-endfunds 187.8 150.4 16 534.0 0.1 34LM653063005Mutualfunds 454.1 185.8 143.3 33FL633063005Moneymarketfunds 482.2 499.6 183.8 7.0 134.6 470.3 32LM223063045Stateandlocalgovt.retirementfunds 502.0 181.5 31LM343063005Federalgovernmentretirementfunds 149.7 6.7 30LM573063005Privatepensionfunds 496.4 183.5 160.2 498.4 29LM543063095Other 185.8 157.9 28LM543063675MBSandotherABS 499.6 183.0 27LM543063005Lifeinsurancecompanies 26LM513063095Other 451.7 198.3 25LM513063605MBSandotherABS 493.0 24LM513063005Property-casualtyinsurancecompanies 196.0 506.4 23LM473063095Other 22LM473063605MBSandotherABS 21LM473063005Creditunions 4 20LM743063005BanksinU.S.-affiliatedareas 145.5 3 19LM753063005ForeignbankingofficesinU.S. 141.1 5055.5 18LM763063095Other 4909.2 140.9 17LM763063605MBSandotherABS 4907.9 2 16LM763063005U.S.-chartereddepositoryinstitutions 151.3 4848.0 5957.7 15LM213063003Stateandlocalgovernments 154.0 4802.9 5787.2 14FL313063763Federalgovernment 4909.2 5803.6 141.1 4760.7 5709.2 13LM153063005Householdsector 160.0 4701.1 5630.9 147.7 12FL893063005Totalassets(3) 4703.1 5787.2 5539.5 182.7 11LM263163005Restoftheworld(2) 5384.7 5103.6 10FL503163005Otherfinancialbusiness 9FL733163003Holdingcompanies 8FL663163003Brokersanddealers 7FL643163005REITs 6FL613163005Financecompanies 5FL673163005ABSissuers(net)(1) 4FL763163005U.S.-chartereddepositoryinstitutions 3FL793163005Domesticfinancialsectors 2FL103163003Nonfinancialcorporatebusiness 1FL893163005Totalliabilities Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.213 CorporateandForeignBonds 122 (5) Theaccumulatedvaluationdifferencebetween issuanceandholdings. (4) HoldingsofU.S.issuesbyforeignresidents. (3) Forsomesectors,holdingsofMBSandotherABSareshownseparately. includeprivatelyissuedmortgage-backedsecuritiesandotherasset-backedbonds. (2) HoldingsofforeignissuesbyU.S.residents. (1) Liabilitiesnetofassets.

Z.1, June11,2020 24. 30. 24. 47. 31. 36. 45. 47. 34. 12 13849.1 14275.2 14158.9 13763.3 13211.1 14275.2 12649.6 13107.8 12248.9 1 14119.3 14033.1 13943.6 13733.4 13490.0 14033.1 13298.8 13067.8 12337.8 0621 0821 2019 2019 2018 2017 2016 07631. 28836. 49833. 65836. 41347 3461.3 45 3663.4 3781.9 3615.8 4001.1 3535.5 3952.6 3419.8 3875.3 3663.4 3763.8 3258.8 4001.1 3512.2 3609.8 3067.6 3881.7 3431.7 34 2236.8 2287.6 2266.5 2221.8 2131.0 2287.6 29 2545.3 2016.6 2610.1 2037.6 2586.0 1861.9 2483.8 2350.9 2610.1 2212.1 2253.0 2111.0 13 1020.0 1003.4 990.1 975.1 11 3106.1 895.4 3336.7 1003.4 9 3232.0 1537.1 943.0 3176.2 1443.8 1006.6 3056.2 1468.1 1058.9 3336.7 1472.8 5 2998.6 1435.0 1165.9 2982.0 1443.8 1127.0 2531.1 1395.8 1110.4 1444.2 1072.6 1373.5 1074.3 1127.0 1066.7 1087.2 1128.3 6. 6. 5. 3. 4. 3. 3. 3. 2. 46 320.6 337.7 336.8 339.7 344.1 337.7 351.0 369.6 36 517.8 364.1 544.0 517.5 488.8 30 460.7 960.6 544.0 972.9 28 420.5 543.5 961.4 26 403.6 561.3 928.5 445.7 25 135.7 309.6 561.4 885.8 456.0 138.8 546.0 972.9 461.2 139.8 523.5 835.4 447.8 135.1 561.3 803.8 430.5 129.2 17 498.8 720.3 456.0 88.6 138.8 482.0 411.3 18 85.0 122.8 365.5 472.3 377.9 104.3 414.6 84.3 369.7 100.6 417.7 82.2 414.2 79.7 418.7 85.0 414.6 374.5 77.1 409.9 83.0 10 638.9 406.1 8 100.4 713.4 256.9 7 695.6 174.0 6 528.1 664.7 783.1 183.3 538.1 680.3 771.8 205.9 519.3 713.4 790.2 181.9 501.2 669.7 779.5 174.0 482.9 634.4 794.5 184.0 538.1 657.2 771.8 185.7 470.0 814.6 129.1 439.0 763.0 417.3 814.9 89-00692-4. 7. 2. 254-4. 7. 48 270.2 44 -242.1 81.8 43 -215.4 27.3 42 55.5 70.9 -29.9 28.9 41 35.0 278.9 54.0 74.0 40 60.4 29.9 -242.1 51.8 67.8 73.1 38 10.9 60.0 649.2 27.3 48.2 56.3 72.3 -40.0 12.0 56.7 22.6 49.0 35 60.6 70.9 88.9 59.4 12.6 53.1 28.9 49.2 54.0 70.7 75.1 13.2 54.1 21.0 51.8 63.0 72.6 74.2 13.9 60.0 17.7 50.8 71.4 69.0 74.7 12.0 55.3 23.9 42.3 80.0 73.2 14.3 63.8 40.2 75.1 19.8 73.1 69.1 36.4 74.3 22 13.0 21 71.4 13.5 12.1 12.6 11.8 12.3 11.5 12.0 11.2 11.7 12.1 12.6 9.9 10.4 10.4 10.7 11.3 11.5 ...... 39 3.4 3.5 3.6 3.7 33 13.8 3.8 18.5 3.5 16.1 3.9 11.7 8.7 4.3 23 18.5 4.7 0.5 7.5 0.5 8.5 0.5 6.6 0.5 0.5 14 0.5 0.5 0.5 0.5 0.5 0.3 0.5 0.2 0.5 0.5 0.5 0.5 0.5 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

5 F23603 tt n oa ot eieetfns1. . 251. 311. 411. 3545 13.5 44 15.7 13.1 42 799.8 47 15.8 39 6508.2 14.1 41 48 41.3 784.7 23.6 6289.3 2431.6 23.1 12.9 6247.8 774.2 2407.3 40.7 22.9 6210.6 216.7 2370.2 757.4 13.1 38.3 6161.1 20.9 2341.5 38 215.3 750.3 926.3 6289.3 13.1 2315.8 39.3 20.9 15.8 6195.6 784.7 2407.3 767.9 12.5 6051.4 2292.6 37.9 737.2 20.8 0.0 760.7 55FL263069500Restoftheworld 5852.4 2126.8 34 6.9 675.7 40.7 232.8 762.0 22.9 1933.0 54FL503069805Otherfinancialbusiness 151.7 31 32 629.9 37 77.2 53FL733069005Holdingcompanies 230.3 750.8 56.0 14.5 37.1 10190.3 20.5 0.0 52FL663069005Brokersanddealers 9784.8 227.8 767.9 51FL643065005REITs 73.8 35 55.1 38.4 9665.5 17.8 25280.2 224.9 739.5 24341.3 9570.2 50FL614023005Financecompanies 73.9 54.2 24116.6 38.6 15.5 227.4 49FL674023005ABSissuers 706.8 9409.8 24062.1 48FL413065005Agency-andGSE-backedmortgagepools 23750.2 73.4 9784.8 53.3 230.3 701.0 24341.3 47FL404023005Government-sponsoredenterprises 9428.6 23528.0 46FL653069803Mutualfunds 72.9 226.9 52.6 22792.3 29 8984.8 22 3090.3 21647.9 245.8 45FL223065043Stateandlocalgovt.retirementfunds 8639.6 0.0 73.8 55.1 2913.0 44FL313169003Federalgovernmentretirementfunds 243.0 2910.6 43FL573065005Privatepensionfunds 73.8 0.0 51.8 42FL544023005Lifeinsurancecompanies 2833.3 20 41FL513065505Property-casualtyinsurancecompanies 2825.4 71.6 6.0 48.0 0.0 2913.0 40FL474023000Creditunions 68.8 39.5 2797.7 39FL744023003BanksinU.S.-affiliatedareas 3.5 0.0 2734.4 38FL754023005ForeignbankingofficesinU.S. 37FL764023005U.S.-chartereddepositoryinstitutions 2691.0 3.4 16 36FL713068005Monetaryauthority 0.0 21.2 3.3 35FL794023005Domesticfinancialsectors 0.0 18 21.1 615.1 34FL213065005Stateandlocalgovernments 17 3.8 20.8 0.0 33FL314023005Federalgovernment 484.9 2366.9 1955.2 502.0 19.9 3.5 32FL114023005Nonfinancialnoncorporatebusiness 0.0 1974.9 31FL104023005Nonfinancialcorporatebusiness 540.5 1972.1 19.6 30FL154023005Householdsector 3.3 0.0 524.1 1952.5 21.1 29FL384023005Domesticnonfinancialsectors 1955.2 484.9 2.9 2027.4 13 14 28FL894123005Totalassets 19.3 577.3 3765.9 6317.7 2038.1 2.9 3332.5 6165.7 586.5 27FL264123005Restoftheworld 2051.6 18.2 3303.1 6082.4 566.4 26FL504123005Otherfinancialbusiness 3268.3 17.8 6001.1 25FL664123005Brokersanddealers 11 3230.6 5936.2 24FL644123005REITs 26110.9 3332.5 6165.7 25444.1 23FL614123005Financecompanies 25177.6 3145.0 22FL403169283Government-sponsoredenterprises 5877.8 25076.1 2695.4 5540.2 24798.0 6 21FL543169373Lifeinsurancecompanies 25444.1 2532.2 5078.3 1639.2 20FL513169333Property-casualtyinsurancecompanies 24438.4 23322.9 1614.6 19FL473169333Creditunions 21984.1 18FL763169305U.S.-chartereddepositoryinstitutions 1576.8 3 1529.6 17FL794123005Domesticfinancialsectors 4499.6 1502.3 4081.9 5 1614.6 16FL213169203Stateandlocalgovernments 2 4063.5 11222.2 15FL314123005Federalgovernment 1476.7 11158.8 4462.7 4225.6 11090.2 1358.8 3818.3 14FL114123005Nonfinancialnoncorporatebusiness 4159.3 10987.6 1236.3 10898.6 13FL104123005Nonfinancialcorporatebusiness 3784.6 4081.9 11158.8 12FL154123005Householdsector 3764.6 3960.0 10865.7 10582.2 3687.5 3801.1 11FL384123005Domesticnonfinancialsectors 10277.2 3818.3 3303.8 10FL894123005Totalliabilities 3676.5 3395.5 Bysector 3285.7 9FL153166000Consumercredit 8FL893065603Farm 7FL893065505Commercial 6FL893065405Multifamilyresidential 5FL893065105One-to-four-familyresidential 4FL893065005Mortgages 3FL893169005Otherloansandadvances 2FL793068005Depositoryinstitutionloansn.e.c. 1FL894123005Totalloans Byinstrument Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.214 Loans(1) (1) Sumofdepositoryinstitution loansnotelsewhereclassified,other loans andadvances,totalmortgages,consumer credit. 44. 50. 75. 88. 75. 79. 72. 88. 94. 28 29249.0 28084.2 27825.0 27690.1 27352.6 28084.2 27058.9 25902.5 24542.2 12 15990.3 15909.0 15748.2 15570.1 10 15396.3 29249.0 15909.0 28084.2 15396.3 27825.0 14917.4 27690.1 14355.9 27352.6 28084.2 27058.9 25902.5 24542.2 4 16140.3 16003.1 15859.6 15659.1 15517.2 1 16003.1 15424.2 29249.0 14892.9 28084.2 14332.0 27825.0 27690.1 27352.6 28084.2 27058.9 25902.5 24542.2 0621 0821 2019 2019 2018 2017 2016 04715. 06214. 00615. 08914. 03850 1043.8 49 1072.6 1041.5 1043.1 1048.9 1038.6 1053.2 1009.0 1050.6 1010.4 1041.5 1043.1 1046.2 1007.5 1052.3 1024.8 1074.7 1083.5 33 1691.3 1662.9 1652.9 1610.2 1602.6 1662.9 1562.9 1466.0 1366.8 9 4146.4 4180.9 7 4117.4 3020.3 4040.9 2973.1 3988.6 2938.7 4180.9 2890.7 3998.3 2867.8 3813.0 2973.1 3620.8 2836.1 2715.7 2592.5 0. 7. 3. 2. 7. 9. 9. 2. 7. 55 878.5 829.8 52 797.8 431.9 51 794.6 249.7 410.6 777.0 273.8 392.1 829.8 285.5 389.0 733.3 276.3 46 368.7 140.5 375.8 264.8 410.6 144.1 203.3 273.8 375.5 146.4 255.0 399.3 149.7 234.8 329.7 155.4 227.8 144.1 163.3 40 1143.6 173.7 1133.6 157.5 1112.9 1090.9 1069.7 1133.6 1065.2 978.4 30 889.5 1033.1 890.8 901.8 871.5 27 771.3 869.8 684.9 890.8 25 24 672.5 1113.9 882.3 297.8 23 906.1 641.9 161.2 903.0 263.7 914.2 602.1 153.6 972.9 259.7 881.0 684.9 153.0 261.7 871.8 593.1 149.6 266.7 906.1 541.5 150.7 263.7 882.7 506.5 153.6 275.2 880.6 147.7 288.2 921.3 148.1 284.3 159.5 8 258.6 256.6 253.9 251.1 248.4 256.6 245.7 236.2 226.0 601. 831. 871. 051. 6854 26.8 19.0 53 20.5 128.7 117.7 19.6 125.9 18.7 112.9 19.0 107.2 43 18.3 117.7 33.4 104.3 19.0 31.4 123.1 16.0 30.9 22.8 30.1 29.7 31.4 29.2 26.7 22.2 21 107.7 19 62.9 88.7 52.3 86.1 54.2 82.2 51.4 82.2 50.7 88.7 52.3 81.1 57.7 74.8 54.8 68.3 46.7 ...... 8736 58.7 0.0 0.0 0.0 0.0 0.0 0.0 26 2.4 0.0 2.4 0.0 2.4 2.4 2.4 2.4 2.4 2.4 15 15.7 2.4 15.8 23.1 216.7 215.3 15.8 0.0 151.7 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 123 2020

Levels Levels 8 F73605 ak nUS-fiitdaes1. 261. 811. 591. 811. 18 19.4 18.1 15.4 17 11 843.3 3.1 15.9 687.2 3.4 14.2 680.1 18.1 683.6 3.0 16 672.9 3459.6 13.1 3.7 3026.5 12 687.2 228.7 12.6 3009.5 661.9 3.8 13 2985.9 195.6 482.4 13.0 629.8 2929.6 196.0 3.4 432.7 3026.5 632.9 201.7 2928.6 420.9 5 4.3 2674.5 202.9 419.9 383.7 2569.9 195.6 4.2 309.0 340.8 202.2 308.8 432.7 (2) LoansfromFederalReservebankstothehousehold,brokeranddealer,otherfinancialbusinesssectors. 7.3 199.5 (1) Excludesdepositoryinstitutionlendingintheformofopenmarketpaper,mortgages,andconsumercreditwhichareshownonotherinstrumenttables. 306.3 340.2 229.4 3 308.4 19FL473068005Creditunions 283.6 1337.9 18FL743068005BanksinU.S.-affiliatedareas 4 309.0 237.9 1011.5 17FL753068005ForeignbankingofficesinU.S. 1605.0 16FL763068005U.S.-chartereddepositoryinstitutions 1005.6 310.6 1519.9 1009.4 1516.3 301.2 15FL713068005Monetaryauthority(2) 1000.0 1522.7 293.2 1011.5 14FL793068005Totalassets 1508.2 988.8 1519.9 13FL263168495Foreignnondepositoryfinancialinstitutions 1492.6 918.8 12FL263168485Foreignnonfinancialcorporations 1389.0 11FL263168465Foreignofficialinstitutions 966.4 10FL263168005Restoftheworld 1260.2 9FL713068505Otherfinancialbusiness 8FL663168005Brokersanddealers 7FL643168005REITs 6FL613168003Financecompanies 5FL793168005Domesticfinancialsectors 4FL113168005Nonfinancialnoncorporatebusiness 3FL103168005Nonfinancialcorporatebusiness 2FL153168005Householdsector 1FL793068005Totalliabilities Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.215 DepositoryInstitutionLoansNotElsewhereClassified(1) 124

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 25739. 66531. 67536. 74631. 42714 4462.7 3818.3 3784.6 3764.6 3687.5 3818.3 3676.5 3395.5 3285.7 1 4462.7 3818.3 3784.6 3764.6 3687.5 3818.3 3676.5 3395.5 3285.7 7. 8. 4. 3. 4. 8. 1. 3. 1. 10 714.1 631.7 8 619.9 189.8 6 589.1 125.8 160.3 547.5 125.6 152.7 631.7 123.8 152.1 546.7 121.5 2 148.9 487.3 385.9 125.8 150.1 474.6 346.3 124.0 152.7 333.9 120.2 147.1 337.0 106.0 144.7 323.4 156.0 346.3 337.7 299.1 291.3 987. 308. 087. 958. 1719 81.7 86.6 79.5 79.2 70.8 86.6 73.0 78.6 7 69.8 69.8 30.5 31.0 33.5 36.8 30.5 39.6 36.3 31.2 ...... 8715 58.7 0.0 0.0 0.0 9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

2 F53685 te iaca uies1. 901. 901. 962. 902. 52 26.8 19.0 48 20.5 38.9 19.6 34.4 18.7 36.2 19.0 34.7 18.3 35.8 46 19.0 44 34.4 526.3 924.1 38 16.0 496.5 0.0 35.1 41 780.2 37 40.0 0.0 486.2 42 788.6 35.2 0.0 337.7 467.3 38.7 33 40 757.1 0.0 39 0.0 32.5 325.7 360.1 469.0 400.1 36 0.5 39.4 750.3 0.0 309.0 348.0 0.5 496.5 386.7 0.0 780.2 40.1 0.5 31 310.6 354.6 464.6 0.0 394.0 4.6 758.7 0.5 0.0 292.4 40.1 361.1 477.1 401.2 0.5 34 760.4 0.0 8.5 325.7 14.5 360.9 0.5 442.3 38.7 401.0 0.0 815.3 52FL503069805Otherfinancialbusiness 29 0.0 302.3 348.0 0.0 107.7 386.7 13.3 51FL663069803Brokersanddealers 8.4 39.7 28 0.0 0.0 333.3 50FL673069803ABSissuers 35 357.3 6.0 88.7 397.1 0.4 129.5 12.0 49FL653069803Mutualfunds 0.0 38.7 8.5 277.0 348.5 0.4 48FL543069873Lifeinsurancecompanies 387.2 0.0 126.4 86.1 3.5 47FL153069803Asset:Householdsector 12.9 0.4 38.8 349.2 0.0 388.0 9.4 46FL103169803Loanstononfinancialcorporatebusiness(3) 120.4 32 0.4 82.2 0.0 143.9 13.1 3.4 0.3 121.7 45FL153067005Asset:Householdsector 0.0 8.5 82.2 139.7 0.3 44FL153067005Cashaccountsatbrokersanddealers 13.3 0.0 24 120.6 3.3 132.2 26 132.4 25 88.7 0.0 9.4 615.1 43FL663067003Liab.:Householdsector 126.4 12.0 797.2 0.0 131.1 42FL663067003Marginaccountsatbrokersanddealers 134.6 3.8 22 484.9 120.3 81.1 132.4 17 638.9 20 0.0 10.9 9.8 132.6 133.6 0.0 16 94.0 41FL113169535Nonfinancialnoncorporatebusiness 502.0 114.6 131.3 3.5 0.0 654.9 74.8 40FL103169535Liab.:Nonfinancialcorporatebusiness 132.3 139.7 10.2 16.6 540.5 89.1 39FL613069500Financecompanyloanstobusiness 110.6 0.0 132.8 686.5 133.0 15 68.3 132.4 3.3 0.0 524.1 0.0 132.5 670.9 38FL673069505Liab.:Nonfinancialcorporatebusiness 99.1 131.1 125.6 0.0 37FL673069505SecuritizedloansheldbyABSissuers 484.9 133.2 2.9 0.0 638.9 134.0 0.0 86.8 120.8 577.3 36FL763169383U.S.-chartereddepositoryinst.(SLMA) 131.3 0.0 729.5 133.8 35FL113169305Nonfinancialnoncorporatebusiness(FCS) 2.9 9 0.0 80.1 586.5 0.0 134.2 732.1 34FL183169305Nonfinancialcorporatebusiness(FCS) 2.4 131.9 0.0 33FL153169305Liab.:Householdsector(SLMA) 566.4 89.1 134.1 0.0 704.3 32FL403069395Government-sponsoredenterprise(GSE)loans(2) 0.0 14 2.4 132.1 0.0 878.5 84.9 31FL643169373Realestateinvestmenttrusts 0.0 0.0 7 13 829.8 30FL613169333Financecompanies 2.4 101.6 878.5 11 0.0 0.0 29FL543169373Lifeinsurancecompanies 15.7 0.0 797.8 28FL513169333Property-casualtyinsurancecompanies 22.5 0.0 6 829.8 2.4 27FL473169333Creditunions 0.0 794.6 0.0 21.2 15.8 797.8 26FL763169335Liab.:U.S.-chartereddepositoryinstitutions 0.0 0.0 777.0 25FL403069330FederalHomeLoanBanksadvances(1) 2.4 21.1 794.6 4 23.1 0.0 5 0.0 0.0 829.8 72.5 59.9 0.0 24FL543069405Lifeinsurancecompanies 777.0 20.8 216.7 2.4 23FL313069403Asset:Federalgovernment 733.3 0.0 77.5 829.8 58.6 22FL153169405Policyloans(Householdliability) 215.3 0.0 19.9 375.8 2.4 733.3 0.0 76.7 15.8 21FL733069023Restoftheworld 58.3 203.3 19.6 20FL733069013Liab.:Nonfinancialcorporatebusiness 375.8 2.4 76.1 0.0 19FL733069005Holdingcompanyloans 56.5 0.0 21.1 203.3 1 75.2 18FL263169705Restoftheworld 2.4 56.1 151.7 0.0 19.3 17FL103169705Liab.:Nonfinancialcorporatebusiness 4499.6 16FL753069703ForeignbankingofficesinU.S. 77.5 0.0 58.6 4081.9 18.2 15FL763069703Asset:U.S.-chartereddepositoryinstitutions 0.0 4063.5 Customers’liabilityonacceptancesoutstanding 73.2 54.5 4225.6 17.8 0.0 4159.3 14FL263069500Liab.:Nonfinancialcorporatebusiness 73.3 53.0 13FL263069500ForeignloanstoU.S.corporatebusiness 4081.9 74.4 53.4 3960.0 12FL313169003Liab.:Federalgovernment 3801.1 11FL313169003Federalgovernmentretirementfundsloans 3303.8 10FL263169205Restoftheworld 9FL503169205Otherfinancialbusiness 8FL313069223Financecompanies 7FL403169283Government-sponsoredenterprises 6FL213169203Stateandlocalgovernments 5FL113169205Nonfinancialnoncorporatebusiness 4FL103169205Nonfinancialcorporatebusiness 3FL153169203Liab.:Householdsector 2FL313069205U.S.governmentloans 1FL893169005Totalotherloansandadvances Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.216 OtherLoansandAdvances (3) Syndicatedloansfromdomesticentities,excludingdepositoryinstitutionsandfinancecompanies whichareincludedelsewhere. (2) TheStudentLoanMarketingAssociation(SallieMae)wasincludeduntilitfullyprivatized in2004:Q4.FederalHomeLoanBankadvancesareshownseparatelyonline25. affiliatedcaptiveinsurancecompanies. (1) TheFederalHomeLoanBanksareincludedinthegovernmnet-sponsoredenterprisessector. Finance companiesandrealestateinvestmenttrustsreceiveadvancesthrough 0621 0821 2019 2019 2018 2017 2016 5. 5. 5. 8. 5. 6. 7. 8. 9. 50 197.9 49 140.5 188.3 144.1 175.1 146.4 162.6 45 149.7 924.1 159.6 155.4 780.2 43 188.3 337.7 144.1 788.6 151.4 325.7 163.3 757.1 157.4 309.0 173.7 750.3 159.1 310.6 157.5 780.2 292.4 758.7 325.7 760.4 302.3 815.3 333.3 277.0 2 214.9 219.5 218.3 211.0 208.9 219.5 203.2 200.3 197.6 266. 328. 637. 318. 4251 94.2 85.0 47 28.0 83.1 25.7 78.4 24.8 76.3 22.2 85.0 23.3 73.2 25.7 66.0 23.4 52.6 25.8 24.6 27 62.9 52.3 54.2 51.4 50.7 52.3 57.7 19 128.7 54.8 117.7 46.7 125.9 112.9 107.2 117.7 104.3 10 22.4 123.1 24.6 22.8 25.8 3 26.7 36.5 27.5 35.4 24.6 34.3 27.0 29.4 32.6 28.1 31.6 35.4 26.8 20.8 18.1 ...... 30 0.9 1.0 0.9 23 0.6 0.2 0.6 0.2 1.0 0.2 21 18 34.7 0.6 0.0 0.2 28.6 3.4 0.0 0.2 26.8 3.5 0.0 0.2 26.1 0.0 27.1 0.2 28.6 0.0 0.2 19.4 0.0 12 0.3 8 15.7 21.5 0.0 0.0 15.8 0.3 0.0 0.0 23.1 0.0 216.7 0.0 215.3 0.0 15.8 0.0 0.0 0.0 151.7 0.0 0.0 0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 125 2020

Levels Levels 4 F43605 amr oeAmnsrto FH)()00000000000000000044 0.0 0.0 0.0 0.0 0.0 0.0 32 39 0.0 13.5 2431.6 2407.3 13.1 0.0 2370.2 14.1 2341.5 29 33 27 0.0 23.6 5567.1 21.9 2315.8 26 12.9 5510.7 2407.3 83.0 22.9 22.6 5460.5 2292.6 13.1 5389.4 80.8 20.9 2126.8 47FL643065005REITs 22.8 5356.6 46FL613065000Financecompanies 13.1 1933.0 80.6 45FL673065005ABSissuers 20.9 5510.7 23.4 21 23 12.5 5333.8 0.0 78.3 232.8 44FL413065035FarmersHomeAdministration(FmHA)(2) 20.8 23.7 5193.7 43FL413065653FarmerMac 6.9 24 230.3 5027.2 0.0 77.8 42FL413065045FannieMae 22.9 5698.7 22.6 41FL413065025FreddieMac 227.8 25 5655.4 20 14.5 40FL413065015GinnieMae 80.8 5020.9 20.5 0.0 15.5 24.1 5593.4 224.9 39FL413065005Agency-andGSE-backedmortgagepools 4987.5 5540.6 77.6 17.8 15.5 25.8 227.4 4940.1 15 0.1 38FL403065653FarmerMac 16 5464.6 38.7 56.0 4900.0 37FL403065035FHLB 77.0 230.3 15.5 5655.4 15.3 25.5 36FL403065045FarmCreditSystem 4835.7 0.1 34.2 19 5442.8 55.1 226.9 35FL403065025FreddieMac 68.1 4987.5 107.4 15.1 5282.7 34FL403065015FannieMae 245.8 4818.1 35.0 0.0 54.2 33FL403065005Government-sponsoredenterprises 105.8 5070.6 14.9 4698.5 243.0 34.7 105.6 53.3 32FL223065043Stateandlocalgovt.retirementfunds 4537.6 0.1 15.5 31FL573065005Privatepensionfunds 102.9 34.5 52.6 14.6 0.1 30FL543065005Lifeinsurancecompanies 106.3 34.2 29FL513065505Property-casualtyinsurancecompanies 55.1 105.8 14.1 0.1 34.2 28FL473065100Creditunions 51.8 105.7 13.4 27FL743065003BanksinU.S.-affiliatedareas 32.2 102.5 26FL753065005ForeignbankingofficesinU.S. 48.0 25FL763065005U.S.-chartereddepositoryinstitutions 101.6 24FL703065005Privatedepositoryinstitutions 29.8 39.5 23FL213065005Stateandlocalgovernments 22FL313065095Other(3) 21FL313065065FederalDepositInsuranceCorporation 20FL313065035FederalHousingAdministration(FHA) 19FL313065075FarmersHomeAdministration(FmHA)(2) 18FL313065015GinnieMae 17FL313065005Federalgovernment 16FL113065005Nonfinancialnoncorporatebusiness 2 15FL103065003Nonfinancialcorporatebusiness 14FL153065005Householdsector 11222.2 11158.8 11090.2 13FL893065005Totalassets 10987.6 10898.6 12FL123165005REITs 11158.8 11FL313165403Federalgovernment 10865.7 10582.2 10277.2 10FL113165005Noncorporate 9FL103165005Corporate 8FL143165005Nonfinancialbusiness 7FL153165005Householdsector 6FL893065005Totalliabilities 5FL893065603Farm 4FL893065505Commercial 3FL893065405Multifamilyresidential 2FL893065105One-to-four-familyresidential 1FL893065005Totalmortgages Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.217 TotalMortgages(1) 126 (3) OtherincludesDepartmentofVeteransAffairs,FederalFinancingBank,PublicHousingAdministration, andResolutionTrustCorporation. theFarmersHomeAdministration. (2) FmHA-guaranteedsecuritiessoldtotheFederalFinancingBankwerereallocatedfromFmHA mortgagepoolstoFmHAholdingsin1986:Q4becauseofaccountingchangesby (1) Sumofone-to-four-familyresidentialmortgages(tableL.218),multifamily (tableL.219),commercialmortgagesL.220),andfarmL.221).

Z.1, June11,2020 43. 49. 52. 60. 51. 55. 55. 60. 64. 13 16140.3 16003.1 15859.6 15659.1 15517.2 16003.1 15424.2 14892.9 14332.0 7 10951.5 6 10889.4 10820.8 16140.3 10719.8 16003.1 10630.6 15859.6 10889.4 15659.1 10597.1 15517.2 10317.0 16003.1 10016.6 15424.2 14892.9 1 14332.0 16140.3 16003.1 15859.6 15659.1 15517.2 16003.1 15424.2 14892.9 14332.0 0621 0821 2019 2019 2018 2017 2016 76811. 02221. 08427. 02821. 18840 2138.8 2117.6 2092.8 2076.4 2058.4 35 2014.8 2117.6 34 3330.7 1993.3 2042.2 3300.0 1969.3 1913.4 3280.2 1939.9 1766.8 3243.5 1922.0 3232.8 1993.3 3300.0 1909.8 3223.8 1853.7 3155.7 1790.2 3063.6 10 4483.4 8 4422.1 4965.5 4347.9 4889.0 4260.1 4818.5 4211.3 4719.5 4422.1 4666.0 4170.6 4 4889.0 3944.8 3 3020.3 4600.9 3615.2 1639.2 2973.1 4333.8 1614.6 2938.7 4078.9 1576.8 2890.7 1529.6 2867.8 1502.3 2973.1 1614.6 2836.1 1476.7 2715.7 1358.8 2592.5 1236.3 2. 3. 5. 7. 6. 7. 8. 7. 4. 47 249.7 46 115.3 45 273.8 871.9 117.2 285.5 851.7 118.9 276.3 859.4 118.7 41 264.8 841.7 284.2 120.3 273.8 845.5 281.0 117.2 255.0 851.7 268.2 114.8 234.8 850.2 255.8 36 123.8 141.3 227.8 845.6 248.2 138.3 139.6 893.7 281.0 136.6 241.0 134.8 200.2 133.3 30 150.2 628.7 139.6 619.2 133.6 28 572.9 605.4 126.7 564.5 590.4 121.6 549.8 581.6 538.9 619.2 527.4 568.1 564.5 506.7 523.0 465.5 481.4 17 125.3 439.4 123.8 123.5 120.7 123.9 12 223.4 123.8 224.7 123.2 9 220.3 119.8 482.1 219.7 119.7 466.9 220.5 470.6 224.7 459.4 5 226.2 454.7 258.6 242.0 466.9 256.6 236.5 430.3 253.9 389.0 251.1 463.7 248.4 256.6 245.7 236.2 226.0 331...... 42 7.6 7.6 7.7 7.8 37 74.5 7.8 72.4 7.6 69.4 7.9 66.5 31 33.4 64.0 11.5 31.4 72.4 13.3 30.9 62.5 30.1 53.8 29.7 48.4 31.4 29.2 26.7 22.2 14 53.9 57.1 59.9 62.8 65.8 57.1 68.7 81.6 91.7 ...... 43 1.1 1.1 1.4 38 5.8 1.5 5.4 1.5 5.0 1.1 4.8 1.5 4.5 1.7 5.4 2.7 4.0 3.9 3.4 22 0.0 0.0 18 2.4 0.0 2.5 0.0 2.6 0.0 2.6 0.0 11 2.7 0.0 0.0 2.5 0.0 0.0 2.8 0.0 0.0 3.2 0.0 4.7 0.0 0.0 0.0 0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

5 F73623 oeg akn fie nUS ...... 25 0.3 0.3 0.2 0.2 24 0.2 378.7 23 495.3 383.6 0.3 501.3 17 392.6 4.9 509.6 0.2 402.0 519.0 4.7 409.4 12 0.3 523.9 1.4 383.6 5.1 13 501.3 0.3 12.7 420.2 1.5 533.3 4.6 18 460.4 13.2 5073.8 569.9 1.6 19 494.8 5023.2 2047.5 4.7 13.4 600.7 4978.3 2026.0 1.6 4922.0 2001.1 13.6 4.7 10 4899.9 119.9 1984.0 7 1.6 8 13.8 5023.2 1965.1 4.5 23.2 118.6 20.4 28FL613065123Financecompanies 4883.9 2026.0 27FL673065123ABSissuers 1.5 13.2 117.3 4775.6 20.5 1949.1 20.1 2.5 26FL473065125Creditunions 11 2637.0 4644.8 115.8 25FL753065203ForeignbankingofficesinU.S. 1826.0 14.1 1.6 21.0 19.8 24FL763065125U.S.-chartereddepositoryinstitutions 2639.2 1684.6 3 5.2 117.1 23FL893065125Homeequityloansincludedabove(2) 15.3 2625.4 17.6 20.8 1.1 Memo: 19.4 118.6 2615.5 15.0 17.2 2581.4 20.7 116.8 22FL643065105REITs 19.2 4 1.2 2639.2 21FL613065105Financecompanies 126.6 545.6 17.4 20.5 20FL673065105ABSissuers 20.1 2586.0 125.1 541.4 2556.9 17.2 20.5 19FL413065105Agency-andGSE-backedmortgagepools 18.9 2510.0 538.3 18FL403065105Government-sponsoredenterprises 17.3 19.3 17.5 533.8 17FL223065143Stateandlocalgovt.retirementfunds 17.2 16FL573065103Privatepensionfunds 17.9 530.7 14.5 15FL543065105Lifeinsurancecompanies 541.4 17.1 14FL473065100Creditunions 528.5 16.1 13FL743065103BanksinU.S.-affiliatedareas 12FL753065103ForeignbankingofficesinU.S. 513.7 11FL763065105U.S.-chartereddepositoryinstitutions 15.2 498.3 10FL213065103Stateandlocalgovernments 9FL313065105Federalgovernment 8FL113065103Nonfinancialnoncorporatebusiness 7FL103065105Nonfinancialcorporatebusiness 6FL153065103Householdsector 5FL893065105Totalassets 4FL113165105Nonfinancialnoncorporatebusiness 3FL103165105Nonfinancialcorporatebusiness 2FL153165105Householdsector 1FL893065105Totalliabilities Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.218 One-to-four-familyResidentialMortgages(1) 6 F23643 tt n oa ot eieetfns44213739393942394116 4.1 3.9 13 17 12.7 368.6 4.2 18 383.0 364.0 11.5 11 3.9 93.1 380.2 360.4 8 10.7 0.6 367.7 347.2 92.1 3.9 10.5 356.0 338.0 12 0.5 91.1 9 3.9 513.0 349.3 10.0 364.0 19.1 90.0 501.9 0.5 380.2 332.9 11.5 3.7 18.8 494.9 91.0 342.1 307.1 0.5 9.5 18.5 2.1 487.5 299.1 275.4 92.1 477.9 0.5 245.6 6.0 18.2 4.4 90.7 501.9 2 18.0 0.5 4.6 80.8 98.3 472.1 21FL643065405REITs 18.8 444.5 79.6 0.5 97.2 20FL613065403Financecompanies 19FL673065405ABSissuers 17.7 420.3 77.7 0.5 18FL413065405Agency-andGSE-backed mortgagepools 16.4 75.4 17FL403065405Government-sponsored enterprises 3 0.4 1535.1 13.4 74.0 16FL223065443Stateandlocalgovt.retirementfunds 1512.3 15FL573065403Privatepensionfunds 1477.2 79.6 14FL543065405Lifeinsurancecompanies 1431.8 72.6 13FL753065403ForeignbankingofficesinU.S. 1405.6 12FL763065403U.S.-chartereddepositoryinstitutions 1512.3 66.5 1380.1 11FL213065403Stateandlocalgovernments 1263.9 10FL313065405Federalgovernment 60.2 1143.1 9FL113065403Nonfinancialnoncorporatebusiness 8FL103065403Nonfinancialcorporatebusiness 7FL153065403Householdsector 6FL893065405Totalassets 5FL123165403REITs 4FL313165403Federalgovernment 3FL113165405Nonfinancialnoncorporatebusiness 2FL103165405Nonfinancialcorporatebusiness 1FL893065405Totalliabilities Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.219 MultifamilyResidentialMortgages (2) Loansmadeunderhomeequitylinesofcreditandloanssecuredbyjuniorliens.Excludesheldindividuals. (1) Mortgageson1-4familypropertiesincludingmortgagesfarmhouses. 07. 08. 06. 15. 09. 08. 19. 15. 12. 5 11222.2 11158.8 11090.2 10987.6 10898.6 11158.8 1 10865.7 10582.2 11222.2 10277.2 11158.8 11090.2 10987.6 10898.6 11158.8 10865.7 10582.2 10277.2 0621 0821 2019 2019 2018 2017 2016 737102413011601130614671546160116912 10659.1 10600.1 10534.6 10436.7 10350.6 10600.1 10320.1 10052.4 9763.7 26315. 46711. 52312. 56811. 6926 1639.2 1614.6 1576.8 1529.6 1502.3 1614.6 1 1476.7 1639.2 1358.8 1614.6 1236.3 1576.8 1529.6 1502.3 1614.6 1476.7 1358.8 1236.3 0. 528. 548. 708. 548. 21 83.6 85.4 20 86.9 454.6 449.1 87.0 469.1 88.9 466.7 85.4 464.9 87.1 14 449.1 572.9 466.6 95.2 564.5 474.7 106.8 549.8 518.0 538.9 527.4 564.5 523.0 481.4 439.4 141. 741. 781. 741. 6728 16.7 26 92.6 17.1 93.0 17.4 92.4 17.4 22 54.0 92.7 17.8 75.2 89.9 17.1 83.0 93.0 17.4 78.6 89.5 19.0 15 73.4 84.1 21.4 40.1 75.2 78.3 39.1 72.8 37.2 65.1 35.3 9 60.3 29.5 33.9 29.2 39.1 6 46.0 29.2 31.5 48.7 29.0 25.2 51.3 29.3 22.8 54.0 29.2 56.6 29.2 48.7 29.1 59.3 29.9 69.9 80.5 784. 384. 114. 214. 2519 52.5 45.5 42.1 40.6 41.1 14 45.5 164.7 10 162.1 43.8 11.4 155.4 43.3 11.6 148.4 47.8 11.6 143.1 162.1 8.2 5 136.9 23.3 11.9 115.1 22.8 11.6 99.3 21.9 11.9 22.4 12.2 22.7 12.6 22.8 24.0 28.4 33.1 ...... 27 7.0 7.3 7.0 6.6 6.6 7.3 16 6.0 0.6 6.1 0.7 5.9 0.7 0.7 0.8 0.7 0.8 0.9 1.1 ...... 20 5.7 21 10.1 5.7 15.8 5.8 13.0 15 0.8 5.8 12.0 0.8 10.9 5.8 15.8 0.9 5.7 7.7 1.0 5.9 6.3 7 1.0 6.6 0.0 4.6 0.8 9.0 0.0 4 1.1 0.0 0.0 1.4 0.0 0.0 1.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 127 2020

Levels Levels 9 F43655 gny n S-akdmrgg ol ...... 19 18 0.0 4.6 0.0 4.4 14 0.0 9.2 4.8 0.0 9.4 4.4 15 13 23.6 68.7 0.0 9.5 11 4.5 22.9 18.6 67.6 0.0 9.8 20.9 4.4 18.4 68.1 0.0 20.9 9.9 8 18.2 4.2 66.1 9 14.9 15.3 20.8 18.0 0.0 9.4 66.1 Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted 2.3 13.2 15.1 L.221 FarmMortgages(1) 12 22.9 18.2 67.6 1773.3 0.0 10.0 4.9 13.5 14.8 1749.6 20.5 18.4 66.3 10.5 1724.0 13.4 (1) Liabilityofthehouseholdsandnonprofitorganizationssector(tablesL.101B.101). 14.6 17.8 1702.2 18.2 69.9 10.6 1682.6 13.3 22FL643065505REITs 14.4 15.5 2 19.7 62.1 1749.6 21FL613065503Financecompanies 3 292.4 13.2 15.1 1667.1 314.9 19.4 20FL673065505ABSissuers 289.3 1608.7 13.2 302.0 19FL413065505Agency-andGSE-backedmortgagepools 14.2 1523.0 286.2 4 308.5 12.4 18FL223065545Stateandlocalgovt.retirementfunds 13.1 2212.9 283.1 17FL573065505Privatepensionfunds 300.8 2179.9 11.5 280.0 10.8 2145.6 298.3 16FL543065505Lifeinsurancecompanies 289.3 2109.5 15FL513065505Property-casualtyinsurancecompanies 302.0 2091.7 276.9 14FL743065505BanksinU.S.-affiliatedareas 276.5 2179.9 13FL753065503ForeignbankingofficesinU.S. 264.6 2080.5 245.2 12FL763065503U.S.-chartereddepositoryinstitutions 252.9 1992.2 330.2 11FL213065503Stateandlocalgovernments 1806.0 10FL313065505Federalgovernment 9FL113065503Nonfinancialnoncorporatebusiness 8FL103065503Nonfinancialcorporatebusiness 7FL153065505Householdsector 6FL893065505Totalassets 5FL123165503REITs 4FL113165505Nonfinancialnoncorporatebusiness 3FL103165505Nonfinancialcorporatebusiness 2FL163165505Nonprofitorganizations(1) 1FL893065505Totalliabilities Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.220 CommercialMortgages 128 4 F43665 gny n S-akdmrgg ol ...... 14 1.1 12 0.0 10 0.2 1.1 0.0 0.2 1.4 13 124.7 0.0 0.2 1.5 123.4 9 6 0.0 97.7 121.7 0.2 1.1 1.5 120.2 96.9 0.0 0.2 1.1 1.1 118.7 95.9 0.0 123.4 0.2 1.1 1.5 94.8 117.0 0.0 2 0.2 1.1 1.7 93.8 111.1 68.8 0.0 107.1 96.9 0.1 1.1 2.7 68.0 3 0.0 92.8 0.2 1.1 189.8 67.0 88.4 188.6 66.1 1.0 84.4 186.8 65.1 (1) Excludesmortgagesonfarmhouses. 1.0 185.1 68.0 14FL413065605Agency-andGSE-backedmortgagepools 183.3 0.8 13FL403065605Government-sponsoredenterprises 188.6 64.1 12FL223065643Stateandlocalgovt.retirementfunds 181.6 61.1 11FL543065633Lifeinsurancecompanies 175.1 10FL753065603ForeignbankingofficesinU.S. 58.1 167.9 9FL763065633U.S.-chartereddepositoryinstitutions 8FL213065603Stateandlocalgovernments 7FL313065605Federalgovernment 6FL113065603Nonfinancialnoncorporatebusiness 5FL153065605Householdsector 4FL893065603Totalassets 3FL233165605Nonfinancialnoncorporatebusiness 2FL183165605Nonfinancialcorporatebusiness 1FL893065603Totalliabilities

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 52521. 86127. 87829. 98727. 0036 3020.3 2973.1 2938.7 2890.7 2867.8 1 2973.1 3020.3 2836.1 2973.1 2715.7 2938.7 2592.5 2890.7 2867.8 2973.1 2836.1 2715.7 2592.5 6. 6. 7. 8. 8. 8. 8. 8. 8. 22 185.5 182.8 20 364.8 189.6 357.1 185.7 348.2 180.5 334.4 16 182.8 407.1 339.5 174.5 401.4 357.1 163.5 396.3 339.8 162.8 390.5 327.6 388.5 327.8 401.4 383.8 351.4 330.1 5 200.1 201.9 198.4 197.3 197.8 201.9 202.3 213.6 203.4 2. 3. 4. 5. 4. 5. 5. 5. 5. 4 258.6 256.6 253.9 1 251.1 258.6 248.4 256.6 256.6 253.9 245.7 251.1 236.2 248.4 226.0 256.6 245.7 236.2 226.0 252. 182. 562. 622. 6021 26.0 26.1 26.2 17 32.0 25.9 29.9 25.6 29.3 26.1 28.4 21.8 27.9 22.0 10 75.3 29.9 22.5 74.1 27.3 74.1 24.3 75.3 19.5 74.8 74.1 74.2 71.4 70.7 321. 591. 611. 641. 6711 16.7 16.6 16.4 5 6.7 16.3 16.1 7.2 16.6 7.4 15.9 7.7 15.0 8.0 13.2 7.2 8.3 10.6 10.0 ...... 7 1.2 1.2 1.2 1.2 1.1 1.2 1.1 1.1 1.2 ...... 8 7 1.2 9.2 1.2 8.9 1.1 8.6 1.1 8.2 1.1 7.9 1.2 8.9 1.1 7.9 1.2 7.1 1.2 6.5 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

L0060 Gvrmn-pnoe nepie ...... 9 0.0 0.0 0.0 5 0.0 0.0 3 4 0.0 27.0 38.5 0.0 0.0 27.8 39.6 0.0 28.5 0.0 (5) Includesstudentloansbefore2006:Q1. 7 38.9 0.0 financecompanies(partofline11).Databeginin2006:Q1. 1709.8 29.3 (4) Includesstudentloansheldbynonprofitorganizations(line3),thefederalgovernment6),depositoryinstitutions(partoflines7and8), 38.7 0.0 1770.9 (3) Revolvingcreditthatalsoincludesoverdraftplansoncheckingaccountsandotherloanswithoutafixedrepaymentschedule. 0.0 30.4 1715.9 loansthatthegovernmentpurchasedfromdepositoryinstitutions,financecompanies,andnonprofiteducationalindefault. 38.5 0.0 1684.3 (2) IncludesloansoriginatedbytheDepartmentofEducationunderFederalDirectLoanProgramandPerkinsLoans,aswellFamily 27.8 0.0 1644.5 (1) StudentloansoriginatedundertheFederalFamilyEducationLoanProgram.Assetofhouseholdsandnonprofitorganizationssector(tablesL.101B.101). 39.6 1 0.0 1770.9 4146.4 31.4 39.6 15FL153166205Otherconsumercredit(5) 1681.9 4180.9 14FL153166220Studentloans(4) 0.0 35.2 1611.8 4117.4 13FL153166400Autoloans 39.4 1532.1 4040.9 12FL153166100Creditcardloans(3) 41.3 0.0 38.9 3988.6 Memo: 4180.9 3998.3 11FL613066005Financecompanies 3813.0 10FL673066000ABSissuers 9FL403066005Government-sponsoredenterprises 3620.8 8FL473066000Creditunions 7FL763066000U.S.-chartereddepositoryinstitutions 6FL313066220Federalgovernment(2) 5FL113066003Nonfinancialnoncorporatebusiness 4FL103066005Nonfinancialcorporatebusiness 3FL163066223Nonprofitorganizations(1) 2FL153166000Totalassets 1FL153166000Totalliabilities(Households) Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.222 ConsumerCredit 0621 0821 2019 2019 2018 2017 2016 48019. 55614. 66811. 65914. 64514 1674.5 13 1187.1 1648.7 1187.0 1645.9 1180.5 1612.8 1161.9 1606.8 1149.8 1648.7 1187.0 1575.6 1142.7 1492.5 1104.6 1408.0 1065.1 6 1350.9 1319.4 1311.0 1278.3 2 1269.6 4146.4 1319.4 4180.9 1236.3 4117.4 1145.6 4040.9 1049.3 3988.6 4180.9 3998.3 3813.0 3620.8 8. 9. 2. 5. 2. 3. 4. 5. 6. 15 261.9 251.0 245.9 233.9 12 1022.8 11 226.2 528.4 1094.2 251.0 537.6 1045.1 8 225.4 1032.2 536.0 489.0 1005.8 197.9 533.3 1094.2 482.4 187.3 529.4 1054.6 483.6 1018.1 537.6 472.8 960.3 534.4 471.6 541.3 482.4 548.4 469.2 418.4 380.3 052...... 10 2.8 3.1 3.5 4.1 4.7 3.1 5.5 21.4 30.5 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 129 2020

Levels Levels 3 P03603 ecn hnei o oe ..TtlMre ne 03 88 70 84 34 .006 .2-13 33 -21.34 8.52 30 0.65 4653.3 6639.9 3.60 6419.9 13.49 6321.3 17 29 6336.3 0.0 28.42 30548.5 6639.9 38470.3 -7.04 19 35673.3 5463.0 0.0 545.6 35603.0 5876.0 18.89 34307.3 21 644.2 277.9 38470.3 5255.5 0.0 10.31 30455.9 610.6 33061.7 370.5 22 27801.7 2248.1 18 0.0 605.8 339.4 396.1 2982.5 33PC073164013PercentchangeinDowJonesU.S.TotalMarketIndex 586.7 16 341.4 14 493.9 2816.3 0.0 95.9 135.4 644.2 2807.1 331.0 32LM883164135Ccorporations 457.2 173.2 31LM883164133Scorporations 147.7 2711.1 0.0 537.8 370.5 436.7 30LM883164125Closelyheldequityatmarketvalue(7) 2982.5 160.3 133.9 622.8 29LM883164115Publiclytradedequityatmarketvalue(6) 292.1 417.4 2531.8 0.0 160.2 135.2 554.8 2706.8 324.2 Memo: 493.9 12 155.4 129.5 2321.5 0.0 1828.5 260.8 392.1 28LM263064105Restoftheworld(5) 173.2 2290.8 147.7 410.6 0.0 2114.7 27FL503064105Otherfinancialbusiness 137.7 109.1 2093.9 26LM663064103Brokersanddealers 354.3 10 151.5 127.6 42560.1 25LM563064100Exchange-tradedfunds 2021.3 54623.7 24LM553064103Closed-endfunds 130.5 2290.8 104.0 50863.4 23LM653064100Mutualfunds 50860.9 1791.2 49364.2 1948.3 22LM223064145Stateandlocalgovt.retirementfunds 54623.7 43915.5 21LM343064105Federalgovernmentretirementfunds 1711.5 48055.8 20LM573064105Privatepensionfunds 40203.5 19LM543064105Lifeinsurancecompanies 18LM513064105Property-casualtyinsurancecompanies 17FL753064103ForeignbankingofficesinU.S. 16LM763064105U.S.-chartereddepositoryinstitutions 3 1 15FL713064103Monetaryauthority 26587.6 42560.1 33623.0 54623.7 14LM213064103Stateandlocalgovernments 31393.2 50863.4 31302.9 13LM313064105Federalgovernment 50860.9 30511.8 12LM103064103Nonfinancialcorporatebusiness 49364.2 33623.0 11LM153064105Householdsector 54623.7 26666.3 43915.5 28902.1 48055.8 10LM893064105Holdingsatmarketvalue 24702.4 40203.5 9LM263164100Restoftheworld(4) 8LM793164123Closelyheld 7LM793164115Publiclytraded(3) 6LM793164105Financialcorporations 5LM103164123Closelyheld 4LM103164113Publiclytraded(2) 3LM103164103Nonfinancialcorporatebusiness 2LM883164105Domesticsectors 1LM893064105Issuesatmarketvalue Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.223 CorporateEquities(1) 130 M1040 Poet-aulyisrnecmais2. 442. 582. 512. 582. 8 11 22.0 5 451.6 9 6 77.2 552.7 1307.5 25.8 45.6 1599.4 91.5 501.6 25.8 1533.7 61.6 518.2 86.6 1551.1 25.1 4 58.0 502.1 1527.6 276.2 86.2 1599.4 23.2 552.7 58.3 327.3 1402.7 83.6 469.1 25.8 1572.3 56.7 309.8 91.5 481.3 1439.5 308.2 21.3 61.6 417.1 75.9 298.4 24.4 2 52.1 327.3 80.7 14543.1 1 20.0 17659.5 64.8 14543.1 270.9 16694.7 17659.5 69.5 16669.6 16694.7 (1) Sharesofopen-end investment companies;excludessharesofmoney marketfundsandexchange-tradedfunds. 303.0 55.9 16179.6 16669.6 17659.5 16179.6 258.1 14669.8 12LM263064203Restoftheworld 17659.5 15899.0 14669.8 13615.6 15899.0 11LM223064205Stateandlocalgovt. retirementfunds 13615.6 10LM573064205Privatepensionfunds 9LM543064205Lifeinsurancecompanies 8LM513064205Property-casualtyinsurance companies 7LM473064205Creditunions 6LM763064203U.S.-chartereddepositoryinstitutions 5LM213064203Stateandlocalgovernments 4LM103064203Nonfinancialcorporatebusiness 3LM153064205Householdsector 2LM653164205Holdingsatmarketvalue 1LM653164205Sharesatmarketvalue Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.224 MutualFundShares(1) (7) Equaltothesumoflines5and8. (6) Equaltothesumoflines4and7. (5) HoldingsofU.S.issuesbyforeignresidents. (4) HoldingsofforeigncorporateequitiesandinvestmentfundsharesbyU.S.residents;includesAmericanDepositaryReceipts(ADRs). (3) Includescorporateequitiesissuedbyfinancialcorporationsunderthefederalstabilizationprograms. (2) Excludesintercorporateholdings. (1) Includessharesofexchange-tradedfunds,closed-endandrealestateinvestmenttrusts.ExcludesmutualfundshownontableL.224.

Z.1, June11,2020 53. 81. 65. 00. 84. 97. 94. 00. 58. 11 15786.8 20607.7 19341.8 19276.1 18944.6 20607.7 16650.4 18111.1 15239.6 4 22389.6 27633.5 25597.7 2 25582.3 35201.8 24772.2 45110.1 27633.5 42093.2 21729.1 41924.4 23548.7 40643.6 19941.1 45110.1 35919.0 38937.7 33057.2 0621 0821 2019 2019 2018 2017 2016 74018. 69617. 86713. 86717. 37632 1367.6 31 3285.7 1978.8 4661.1 1806.7 4613.2 1732.7 4588.6 1866.7 4469.6 1978.8 28 6750.0 4661.1 1699.6 8246.5 3763.4 1785.2 7633.5 4090.8 1744.0 25 7667.3 3511.5 2715.7 7234.7 3486.2 8246.5 3150.6 6510.6 3116.6 23 9244.9 7019.4 3010.9 20 11934.5 5782.7 2279.1 3486.2 11073.5 2939.0 11184.0 2669.2 10880.2 2719.8 2775.6 11934.5 2719.8 9657.5 2032.7 2647.5 10819.6 9069.9 2939.0 2364.2 2713.0 2329.9 9 7358.3 9513.5 8770.2 7 8936.5 8158.9 5 8720.6 6 10836.8 4198.0 9513.5 8614.2 10075.6 5989.5 7996.5 10020.7 11487.1 9535.1 5795.5 10700.0 9118.1 10621.4 10836.8 5720.6 7146.3 10131.8 8726.8 5739.7 11487.1 9513.0 9252.7 5989.5 7860.6 10035.6 4937.1 8354.8 5353.5 4761.3 32838. 64340. 96649. 09640. 57010 3557.0 4306.0 4079.6 4094.9 3976.6 4306.0 3614.3 3 3886.7 8064.6 3352.8 9798.7 9229.8 9149.4 8799.6 9798.7 7961.9 8654.8 7306.5 7. 8. 4. 6. 5. 8. 7. 6. 4. 26 144.7 24 78.3 166.7 107.2 175.5 103.0 180.1 103.6 158.8 101.9 166.7 107.2 147.7 91.2 182.7 176.1 109.3 101.8 8 455.3 650.4 624.4 600.8 596.7 650.4 525.9 522.5 494.2 9. 2. 9. 9. 0. 7. 6. 9. 3. 12 738.3 893.4 866.6 874.9 909.0 893.4 799.0 828.7 694.2 333. 323. 323. 323. 3213 33.2 33.2 33.2 33.2 33.2 33.2 33.2 33.2 33.3 ...... 27 0.0 0.0 0.0 0.0 0.0 0.0 15 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 ...... 7 3.0 3.3 3.2 3.3 3.0 3.3 2.5 2.3 1.9 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

6 F23703 tt n oa oenet 0. 0. 3. 4. 3. 3. 4. 4. 4. 16 242.1 17 200.1 246.1 191.2 243.8 14 193.9 239.8 12 937.3 260.7 195.7 235.7 923.0 259.5 189.7 246.1 13 907.5 258.3 3534.2 191.2 235.3 3588.9 892.3 257.1 3624.2 186.1 207.5 880.8 255.9 7 3623.8 168.2 201.3 923.0 80.9 3553.0 259.5 158.9 3588.9 867.2 254.7 79.6 3509.6 802.9 250.5 3113.2 6 79.6 21FL903070005Discrepancy 747.9 1064.9 2952.3 244.2 20LM263070005Restoftheworld 78.6 1052.1 4 2 1039.3 765.2 394.2 19FL673070003ABSissuers 77.2 1026.7 18FL543070005Lifeinsurancecompanies 741.0 390.9 1014.1 3 17FL513070005Property-casualtyinsurancecompanies 79.6 723.5 387.6 2693.0 1052.1 16FL213070003Stateandlocalgovernments 76.8 2774.4 1001.8 701.3 384.3 15FL313070000Federalgovernment 2758.9 953.8 688.4 68.4 381.1 2724.7 14FL113070003Nonfinancialnoncorporatebusiness 908.5 741.0 390.9 2678.9 13FL103070005Nonfinancialcorporatebusiness 67.4 2774.4 671.2 377.8 12FL163070005Nonprofitorganizations(1) 2690.4 595.1 364.4 2369.7 11FL893070005Totaltradereceivables 587.2 349.5 2288.3 10LM263170005Restoftheworld 9FL663170003Brokersanddealers 8FL543170005Lifeinsurancecompanies 7FL513170005Property-casualtyinsurancecompanies 6FL213170003Stateandlocalgovernments 5FL313170005Federalgovernment 4FL113170005Nonfinancialnoncorporatebusiness 3FL103170005Nonfinancialcorporatebusiness 2FL163170005Nonprofitorganizations(1) 1FL893170005Totaltradepayables Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.225 TradeCredit L6000 US-hree eoioyisiuin 6. 6. 7. 7. 7. 7. 7. 7. 7. 7 179.7 178.8 176.9 3 175.5 2106.3 173.4 2122.4 178.8 2106.6 2085.9 172.1 2067.9 168.2 2122.4 161.8 2035.2 2008.8 1925.9 10FL543141905Restoftheworld 9FL733040005Holdingcompanies 8FL543040005Lifeinsurancecompanies 7FL763040005U.S.-chartereddepositoryinstitutions 6FL153040005Householdsector 5FL893140005Totalassets 4FL263140005Restoftheworld 3FL543140005Lifeinsurancecompanies 2FL313140003Federalgovernment 1FL893140005Totalliabilities Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.226 LifeInsuranceReserves (1) Includedinthehouseholdsandnonprofitorganizationssector(tablesL.101B.101). 0621 0821 2019 2019 2018 2017 2016 78154. 56457. 68856. 73457. 79011 5769.0 5774.9 5793.4 5768.1 5668.8 5774.9 5596.4 5042.5 4748.1 1 5704.9 5716.5 5666.3 5577.9 5494.1 5716.5 5465.8 4952.7 4730.9 58112. 69113. 69010. 78813. 7906 1709.0 5 1731.3 2228.1 1718.8 2242.9 1702.5 2226.8 1689.0 2204.9 1731.3 1 2186.6 1659.1 2228.1 2242.9 1626.6 2242.9 2153.1 1568.1 2226.8 2158.0 2204.9 2052.2 2186.6 2242.9 2153.1 2158.0 2052.2 5. 0. 3. 4. 4. 4. 4. 4. 5. 20 359.0 349.9 346.0 343.7 342.2 349.9 332.7 300.4 253.5 8 224.5 200.1 5 202.6 385.4 194.9 382.2 189.4 377.2 200.1 375.3 186.3 372.8 171.2 382.2 133.7 365.2 308.2 290.7 5. 8. 5. 5. 5. 5. 5. 5. 6. 8 262.3 257.1 256.4 253.3 251.7 257.1 250.4 286.6 252.4 1. 8. 106-84-7. 103-2. 5. 6. 21 -64.1 -58.4 -127.1 -190.3 -174.7 -58.4 -130.6 -89.8 -17.2 393. 393. 333. 253. 6919 36.9 34.6 18 32.5 15 124.9 73.9 107.7 32.9 73.9 110.8 33.3 76.4 105.9 34.6 102.5 76.9 33.9 107.7 10 75.8 76.8 101.5 32.5 9 73.9 102.2 20.1 80.5 33.9 75.4 91.1 15.8 82.3 65.0 15.5 77.1 64.9 15.0 77.2 14.9 80.5 15.8 79.4 16.8 77.4 44.6 69.0 36.7 701. 041. 051. 071. 1110 9 11.1 66.0 10.7 65.0 10.7 64.0 10.6 4 63.0 69.7 10.5 2 62.0 52.0 68.3 10.7 65.0 52.2 68.2 10.4 61.0 52.1 67.3 19.7 57.0 51.7 66.9 17.0 53.0 51.8 68.3 52.2 66.6 51.3 98.1 51.1 75.0 51.3 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 131 2020

Levels Levels 4 L53353 ieisrnecmais630670610730670690650730N 14 ND 17 ND 713.0 5157.8 685.0 4942.2 12 679.0 ND 4818.3 4667.3 667.0 476.5 5157.8 713.0 4241.5 437.5 641.0 4181.3 464.5 Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted 3335.8 647.0 L.228 TaxesPayablebyBusinesses 464.5 11 603.0 ND 476.5 11025.0 490.2 inthelifeinsurancesector(line14)andexcludedfrommoneymarketfundmutualsectors(lines1516). 10475.0 10350.0 (5) Assetofthehouseholdandnonprofitorganizationssector(tablesL.101B.101).Figuresfordepositories(lines1213)includeKeoghaccounts.VariableannuitiesinIRAsareincluded 469.2 10050.0 (4) Excludesallindividualretirementaccounts(IRAs),exceptthoseatlifeinsurancecompanies. 11025.0 482.3 (3) IncludestheThriftSavingsPlan,NationalRailroadRetirementInvestmentTrust,andotherfederalgovernmentretirementfunds. 9250.0 5 (2) Includesunallocatedinsurancecompanycontractsbeginning1985:Q4. 9439.0 9442.9 (1) Annuities,includingthoseinIRAs. 2 3 8015.0 4 9414.9 3276.7 9977.1 4089.9 17LM153131575Otherself-directedaccounts 9321.3 3484.8 10955.7 16LM653131573Mutualfunds 4149.8 10580.4 9248.4 3410.5 15FL633131573Moneymarketfunds 10526.8 4100.2 9165.6 3379.6 10319.7 14LM543131503Lifeinsurancecompanies 4076.1 10955.7 13FL473131573Creditunions 9414.9 3318.9 9759.3 4040.5 12FL763131573U.S.-chartereddepositoryinstitutions 9058.3 3484.8 10024.6 11LM893131573IndividualRetirementAccounts(IRAs):(5) 4149.8 8790.4 3178.5 9110.1 3979.1 8468.4 3221.9 Memo: 3906.3 3003.6 3791.9 10FL543151905Restoftheworld 9FL543050005Lifeinsurancecompanies 8FL153050005Households(4) 7FL893150005Totalassets 6FL263150005Restoftheworld 5FL224190005Stateandlocalgovt.retirementfunds 4FL344090005Federalgovernmentretirementfunds(3) 3FL574190005Privatepensionfunds(2) 2FL543150005Lifeinsurancecompanies(1) 1FL893150005Totalliabilities Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.227 PensionEntitlements 132 M5000 Ttlhueodeut 02. 10. 19. 24. 10. 28. 20. 24. 27. 1 12472.4 12343.1 2 12302.3 12387.6 12089.8 12259.7 11800.9 12221.7 12343.1 11 12011.4 11596.0 169.1 11722.5 11109.2 12259.7 10228.8 168.9 11517.8 11040.5 9 167.3 10161.0 545.9 165.7 527.0 164.6 5 548.8 168.9 15.0 327.5 163.2 12.4 394.9 153.7 3LM662090003Brokersanddealers 527.0 4 11.4 2LM112090205Nonfinancialnoncorporatebusiness 145.6 107.5 2 369.8 3 1LM152090205Totalhouseholdequity 12.3 273.3 124.2 150.9 353.8 251.9 13.6 119.1 149.4 339.7 Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted 1 255.9 108.9 12.4 147.8 L.229 Proprietors’EquityinNoncorporateBusiness 586.5 245.3 105.5 146.3 573.9 12.6 276.9 124.2 145.1 570.6 13.3 251.9 109.7 149.4 12FL903078005Discrepancy 550.0 266.7 8.4 104.3 143.7 580.1 11FL213078005Stateandlocalgovernments 277.2 71.6 10FL313078000Federalgovernment 137.2 573.9 66.1 132.5 9FL893078005Totalbusinesstaxesreceivable 570.1 574.8 8FL663178005Brokersanddealers 7FL613178005Financecompanies 298.3 6FL543178075Lifeinsurancecompanies 5FL513178005Property-casualtyinsurancecompanies 4FL763178003U.S.-chartereddepositoryinstitutions 3FL113178003Nonfinancialnoncorporatebusiness 2FL103178005Nonfinancialcorporatebusiness 1FL893178005Totaltaxespayablebyallbusinesses

Z.1, June11,2020 40. 56. 54. 77. 61. 79. 77. 77. 64. 8 26646.4 27870.6 7 27278.6 26870.8 27099.1 28086.1 26714.2 27492.7 27870.6 27309.9 25846.0 26922.9 25866.4 28086.1 24301.8 26052.7 25962.1 24389.3 1 26870.8 28086.1 27492.7 27309.9 26922.9 28086.1 26052.7 25962.1 24389.3 0621 0821 2019 2019 2018 2017 2016 21032. 54048. 96042. 09048. D16 ND 4282.0 4029.0 4029.0 3906.0 4282.0 3534.0 3823.0 3271.0 4. 4. 6. 1. 6. 7. 0. 1. D15 ND 314.0 300.0 279.0 266.0 314.0 265.0 240.0 244.0 9. 0. 0. 5. 3. 6. 8. 5. 7. 10 376.8 358.1 381.5 161.8 230.4 358.1 206.7 200.1 194.1 4. 2. 0. 691512252. 694. 12 40.6 46.9 21.9 222.5 185.1 46.9 200.3 220.9 -41.4 897. 838. 928. 138. D13 ND 81.7 81.3 80.2 79.2 9 207.8 81.7 6 199.5 84.2 78.3 198.2 80.8 78.4 195.2 80.3 78.9 193.2 199.5 79.0 191.4 78.2 91.4 80.8 83.5 77.5 18.9 15.3 776. 828. 847. 068. 483 84.8 83.5 80.6 78.4 78.4 83.5 78.2 68.7 67.7 . . 541. 551. 591. 6510 16.5 16.0 15.9 15.6 15.5 16.0 15.4 4.3 3.9 . 361. 271. 461. 271. 8 6 7 14.0 10.4 15.4 12.7 7.9 15.5 14.3 7.0 15.1 14.6 15.5 7.2 14.8 16.1 8.1 12.7 15.5 14.1 7.9 15.9 13.6 7.5 18.9 3.3 10.4 7.9 8.4 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

4 L23933 ..prns iblte ln )63666661068962665974468961434 661.4 47FL263092303Intercompanydebt 678.9 46FL263092151Equity 45FL263092055Historicalcost 35 704.4 1055.2 30 29 44LM263092303Intercompanydebt 31 1068.1 685.9 445.8 826.6 8580.6 43LM263092161Equity 1095.6 652.6 437.1 836.3 42LM263092061Currentcost 10581.8 1097.8 9940.5 678.9 446.8 841.7 1091.3 ForeigndirectinvestmentinU.S.: 26 9831.1 7018.8 1068.1 611.0 437.4 860.3 9470.1 41FL263192305Intercompanydebt 8837.7 1075.0 10581.8 646.6 440.0 835.5 20 40FL263192151Equity 8366.2 8483.3 1146.0 0.0 39FL263192055Historicalcost 603.6 437.1 836.3 8439.4 8925.5 1141.3 23 8153.2 7596.1 609.4 38LM263192305Intercompanydebt 440.2 879.8 0.0 25 37LM263192161Equity 8837.7 445.8 631.0 434.7 829.4 36LM263192065Currentcost 7503.9 0.0 437.1 648.8 406.1 815.0 8910.0 19 U.S.directinvestmentabroad: 24 446.8 7421.9 183.5 660.5 1055.2 18 0.0 21 129.9 17 7473.4 Alternativevaluationsofdirectinvestmentassets: 1068.1 437.4 181.0 651.4 117.4 9465.8 1095.6 200.8 0.0 440.0 179.5 631.0 35LM263092323U.S.affiliates’liabilities(line24) 150.8 8789.4 1097.8 16 180.2 34LM263092313U.S.parents’liabilities(line5) 437.1 8707.8 188.9 155.6 634.8 1091.3 131.7 0.0 33LM263092345Intercompanydebt 164.8 8377.6 32LM263092101Equity(line22) 1068.1 440.2 184.7 198.3 711.4 126.2 13 9465.8 31LM263092035Directinvestmentliabilities 1075.0 152.4 36.6 0.0 434.7 14 181.0 159.4 735.1 121.3 7432.1 1146.0 316.7 200.8 30LM263192323U.S.affiliates’claims(line25) 406.1 15 37.5 7844.2 180.0 151.2 1141.3 150.8 9 0.0 11 29LM263192313U.S.parents’claims(line4) 243.9 405.8 122.8 6586.4 226.3 10 65.3 28LM263192345Intercompanydebt 189.8 147.4 111.5 33.9 249.9 313.1 362.5 27LM263192101Equity(line2) 180.1 299.2 0.0 177.4 198.3 26LM263192035Directinvestmentassets 124.7 86.2 326.0 273.0 360.4 33.2 12 128.5 299.6 6289.8 128.9 107.6 306.3 Directinvestment,asset/liabilitypresentation: 268.8 66.9 353.7 32.1 7978.6 299.0 153.6 298.3 264.5 405.8 7469.1 Memo: 67.4 283.8 37.5 126.4 7414.3 285.9 313.1 318.1 4 299.2 8 25LM263192323Less:U.S.affiliates’claims 66.8 7121.6 7 28.3 826.6 326.0 3 240.4 348.9 24LM263092323U.S.affiliates’liabilities 121.0 5 7978.6 233.4 252.6 165.2 23LM263092303Intercompanydebt 86.2 836.3 257.4 661.4 266.0 300.5 28.2 6302.2 162.1 22LM263092101Equity 309.1 302.5 6 157.4 841.7 6552.9 320.8 21LM263092001Asset:Restoftheworld(1) 678.9 233.0 59.8 145.7 5015.8 19.5 294.9 252.0 5493.4 137.4 1 860.3 263.6 6539.1 704.4 146.7 20FL503192003Otherfinancialbusiness 81.9 285.4 5911.6 174.4 6101.5 19LM733192003Holdingcompanies 835.5 685.9 141.8 7721.7 18LM663192005Brokersanddealers 277.6 6219.4 64.8 182.9 836.3 17LM613192003Financecompanies 7215.0 652.6 162.1 6004.8 309.1 16LM543192073Lifeinsurancecompanies 157.4 7316.1 879.8 6539.1 678.9 126.8 15LM513192003Property-casualtyinsurancecompanies 252.8 7060.6 268.8 5503.4 14LM753192003ForeignbankingofficesinU.S. 829.4 611.0 146.0 7721.7 13LM115114005Nonfinancialnoncorporatebusiness 293.6 6684.0 182.9 815.0 6452.7 12LM103192005Liab.:Nonfinancialcorporatebusiness 646.6 124.3 5467.9 239.5 211.5 7828.7 603.6 ForeigndirectinvestmentinU.S.: 6412.1 11LM663092003Brokersanddealers 10LM613092003Financecompanies 9LM543092073Lifeinsurancecompanies 8LM513092003Property-casualtyinsurancecompanies 7LM763092000U.S.-chartereddepositoryinstitutions 6LM103092005Asset:Nonfinancialcorporatebusiness 5LM263092313Less:U.S.parents’liabilities 4LM263192313U.S.parents’claims 3LM263192305Intercompanydebt(2) 2LM263192101Equity 1LM263192005Liab.:Restoftheworld(1) U.S.directinvestmentabroad: Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.230 DirectInvestment (2) Through1992:Q4,U.S.directinvestmentabroad excludesnetinflowsfromcorporatebondsissuedbyNetherlandsAntilleanfinancialsubsidiaries. (1) Directinvestmentisvaluedonamarketvalue basisandpresentedonadirectionalbasis. 0621 0821 2019 2019 2018 2017 2016 00031. 79835. 77837. 86635. 99846 3959.8 45 4569.2 3959.8 4590.8 3896.6 43 4545.4 3875.3 4675.9 42 4535.7 3797.8 5285.3 4626.5 4449.2 3959.8 5257.5 4564.1 4590.8 3709.8 5212.9 4542.4 4344.6 3314.1 5202.8 4461.9 40 4025.5 3030.0 5113.3 5738.1 4626.5 39 3765.1 5903.3 5257.5 5738.1 4367.0 5895.5 5001.9 5736.3 3913.5 37 5873.7 4624.8 5769.0 3600.2 6465.8 36 5943.4 4335.3 5748.8 6631.0 6441.5 5931.7 5738.1 6598.9 6437.2 5895.5 5682.2 6574.6 6467.9 5951.0 5830.5 6642.2 6446.4 6013.3 5374.6 6629.3 6441.5 5586.0 6598.9 6380.3 6649.1 33 6525.5 1716.6 32 6708.4 6023.8 6863.9 1747.0 6235.3 8834.8 1799.9 8140.6 1783.8 8047.3 1743.9 28 7726.2 1272.4 1747.0 27 5746.4 8834.8 1273.4 1686.1 7564.3 6797.3 1288.5 1792.6 7077.6 7132.8 1297.7 1744.9 7141.7 5851.2 1275.5 6877.7 1273.4 7564.3 1320.0 6183.9 1264.1 7645.9 1221.2 22 6200.7 6863.9 8834.8 8140.6 8047.3 7726.2 8834.8 6797.3 7132.8 5851.2 2 5746.4 7564.3 7077.6 7141.7 6877.7 7564.3 6183.9 7645.9 6200.7 3. 1. 3. 3. 5. 6. 4. 3. 0. 47 609.4 631.0 44 648.8 609.4 660.5 631.0 651.4 648.8 631.0 660.5 41 634.8 165.2 651.4 711.4 157.4 631.0 735.1 38 137.4 634.8 165.2 174.4 711.4 157.4 182.9 735.1 137.4 157.4 174.4 268.8 182.9 182.9 157.4 211.5 268.8 182.9 211.5 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 133 2020

Levels Levels 0 F43905 oenetsosrdetrrss1071109. 2. 0. 1. 3. 2. 5. 40 150.2 127.3 135.3 115.5 102.9 30 127.3 12.0 95.3 29 36 17.0 105.9 5402.3 35 1614.6 111.0 32 4621.0 79.7 26 543.1 21.7 1585.9 48FL903090005Discrepancy 96.7 4763.3 150.7 1663.6 487.1 85.9 4687.9 19.9 47FL263076005Restoftheworld 79.0 1778.9 4729.9 502.8 28 94.9 1683.3 24.9 4621.0 46FL503094505Otherfinancialbusiness 722.6 93.7 494.5 1585.9 45FL733090005Holdingcompanies 4889.3 93.2 417.6 17.0 44FL663090005Brokersanddealers 1624.4 487.5 90.7 4455.9 1675.7 436.2 79.7 4598.1 487.1 43FL643090005REITs 28.5 76.2 1693.7 434.7 42FL613090005Financecompanies 493.3 76.2 41FL673090543ABSissuers 27.1 79.0 419.5 40FL403093005Government-sponsoredenterprises 470.9 96.6 35.5 23 417.6 24 63.4 441.8 39LM563093003Exchange-tradedfunds 7519.2 3627.5 63.0 505.7 38FL653093005Mutualfunds 5536.8 3586.4 70.7 37FL633093005Moneymarketfunds 5629.2 460.6 3525.0 5466.7 99.4 3464.9 36FL223090005Stateandlocalgovt.retirementfunds 572.1 5700.6 35FL343073045Federalgovernmentretirementfunds 3418.7 34FL573090005Privatepensionfunds 10 5536.8 3586.4 3.1 5766.2 3364.9 33FL543090005Lifeinsurancecompanies 3753.5 3122.4 32FL513090005Property-casualtyinsurancecompanies 3.0 14 4611.7 2706.1 128.7 31FL473090005Creditunions 114.3 3.2 30FL743093005BanksinU.S.-affiliatedareas 13 1805.3 29FL753093005ForeignbankingofficesinU.S. 117.6 28FL763090005U.S.-chartereddepositoryinstitutions 1721.6 3.2 9 27FL713090005Monetaryauthority 113.2 1712.6 251.9 1671.5 112.1 3.2 26FL213093003Stateandlocalgovernments 12 205.6 1633.2 25FL313090005Federalgovernment 1606.3 114.3 1721.6 3.0 230.3 1596.8 24FL113090005Nonfinancialnoncorporatebusiness 111.9 1587.2 1579.4 239.7 23FL103090005Nonfinancialcorporatebusiness 1610.3 6 8 110.5 3.2 22FL153090005Householdsector 1561.5 248.9 4927.8 1539.6 3286.7 1533.8 110.1 4127.6 3270.5 21FL893090005Totalassets 4.1 205.6 1596.8 4300.0 3270.3 1517.6 217.8 20FL263190005Restoftheworld 4212.8 3270.2 3.8 3 1475.4 4 190.8 4267.0 3177.5 19FL503190005Otherfinancialbusiness 8950.8 1364.3 1860.9 4127.6 3270.5 18FL733193005Holdingcompanies 197.1 8828.5 1835.8 17FL663190005Brokersanddealers 4446.2 3077.7 8510.1 1813.8 4017.4 3108.6 8367.5 1792.3 16FL643193005REITs 4221.7 2981.0 8252.5 15FL613190005Financecompanies 1776.0 14FL403190005Government-sponsoredenterprises 8828.5 1835.8 7623.8 1756.8 13FL543190005Lifeinsurancecompanies 7255.5 1665.9 12FL513190005Property-casualtyinsurancecompanies 7476.4 1561.5 11FL473193005Creditunions 10FL743193005BanksinU.S.-affiliatedareas 9FL753190005ForeignbankingofficesinU.S. 8FL763190005U.S.-chartereddepositoryinstitutions 7FL713190005Monetaryauthority 6FL223073045Stateandlocalgovernments 5FL313190005Federalgovernment 4FL113193003Nonfinancialnoncorporatebusiness 3FL103190005Nonfinancialcorporatebusiness 2FL543077073Householdsector 1FL893190005Totalliabilities Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.231 TotalMiscellaneousFinancialClaims 134

Z.1, June11,2020 47. 32. 69. 66. 60. 63. 67. 66. 08. 21 30588.0 26464.8 26871.4 26639.6 26705.0 26464.8 26890.2 23820.9 24776.5 1 26949.3 25335.4 25231.8 25083.5 24776.3 25335.4 23957.7 23096.1 23056.2 12. 749-925-194-987-561-696-194-68848 -3638.8 -1129.4 -1639.6 -1556.1 -1928.7 -1129.4 -2932.5 -724.9 -1720.2 0621 0821 2019 2019 2018 2017 2016 68939. 55337. 69031. 61337. 74145 3734.1 3675.2 3691.3 3718.3 3629.0 3675.2 3565.3 3592.0 3698.9 34 1987.6 1666.1 1750.8 1748.2 1808.4 1666.1 1978.6 1751.9 1927.5 22 1292.0 1286.7 1257.1 1253.7 1245.7 1286.7 1245.1 1193.0 1138.8 5 1928.1 1901.1 1962.2 2076.4 1980.4 1901.1 1925.3 1963.0 1971.8 9. 4. 3. 6. 6. 2. 5. 6. 9. 46 796.8 44 869.3 831.2 43 852.0 658.4 199.7 828.6 686.1 192.6 861.1 687.0 186.6 869.3 682.1 38 190.0 94.9 830.7 658.4 205.7 749.6 291.8 697.8 192.6 791.0 297.3 678.7 205.3 313.9 727.2 180.5 33 305.7 755.3 169.0 291.8 650.2 225.7 667.4 293.1 642.0 227.0 628.6 650.2 25 635.3 220.6 587.3 219.0 603.6 218.4 217.0 214.0 20 627.6 219.0 19 279.3 212.0 738.3 17 305.4 197.0 550.6 291.9 300.5 186.2 558.7 360.8 15 295.5 604.0 291.3 347.9 279.3 622.6 281.9 357.0 273.5 550.6 278.3 359.2 254.7 600.9 289.0 360.8 227.8 575.0 282.8 340.0 489.9 281.9 353.2 278.1 394.9 342.9 346.1 1. 2. 1. 40-42-02071. 0318 -0.3 14.0 0.7 -10.2 -14.2 14.0 -13.7 -22.7 -12.6 985. 926. 946. 046. 1747 61.7 61.3 60.4 60.1 42 55.8 41 97.8 59.4 51.5 91.9 39 61.3 94.0 47.0 89.9 59.2 84.9 46.9 88.8 50.1 84.1 45.7 89.1 39.8 71.3 51.5 91.9 67.8 54.4 85.7 84.9 28.3 31 106.4 82.7 65.9 45.0 92.2 70.7 68.9 27 94.1 382.4 62.8 25.4 92.5 21.6 93.7 22.8 92.2 23.5 86.5 25.4 79.0 27.3 77.6 37.7 32.0 16 146.2 147.6 11 144.7 14.8 137.7 19.4 7 149.6 50.8 19.5 147.6 40.4 20.7 117.6 101.5 40.3 19.6 96.7 2 40.9 19.4 39.0 40.0 18.3 36.5 40.4 18.3 36.6 40.6 17.2 35.7 38.5 36.4 37.6 36.5 35.0 33.1 31.3 . . . 0588961. 058. 37 83.5 10.5 10.7 9.6 8.8 10.5 8.1 6.6 7.3 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

7 L53935 ib: te iaca uies00000000000000000027 0.0 0.0 0.0 0.0 0.0 26 25 796.8 674.4 0.0 869.3 749.8 852.0 0.0 24 733.3 122.4 828.6 706.2 0.0 119.5 861.1 722.6 118.7 869.3 0.0 23 749.8 111.3 122.4 830.7 17 707.6 0.0 112.5 138.5 749.6 669.9 112.1 119.5 791.0 5.9 21 691.3 19 112.7 3693.5 123.1 1048.5 16 3630.8 6.7 987.2 114.7 5.9 79.7 3636.4 989.2 112.5 3651.1 99.8 6.8 5.7 996.3 29LM313094303Federalgovernment 113.2 3561.4 14 0.3 28LM153094305Asset:Households(1) 12 3630.8 6.7 976.8 110.7 5.2 6.0 27LM503194305Liab.:Otherfinancialbusiness 3497.3 987.2 98.2 0.5 3513.9 6.8 EquityinvestmentunderPublic-PrivateInv.Program: 5.9 5.2 952.6 3594.5 0.5 26FL503094505Asset:Otherfinancialbusiness 6.3 975.9 11 4.8 5.0 15 0.3 2618.7 25FL663194505Brokersanddealers 1150.1 0.5 7 6.8 24FL753194503Liab.:ForeignbankingofficesinU.S. 15.8 2603.5 4.7 0.2 12.6 2574.1 0.5 Otherfinancialbusinesses’investmentinaffiliates: 13.3 6.0 9 2584.4 4.7 6 12.7 0.2 5 30.1 2517.4 23FL103094105Asset:Nonfinancialcorporatebusiness 1.4 0.5 55.0 4.8 12.7 22FL103094105Liab.:Financecompanies 2603.5 5.2 24.6 0.2 2500.5 1.3 0.5 48.6 NFCinvestmentinfinancecompanyaffiliates: 12.6 4.3 2495.7 25.6 4.7 0.2 4 49.2 2397.2 1.3 0.5 21FL733094705Asset:Holdingcompanies 12.4 27.3 32.0 4.2 0.2 50.6 20FL263194735Restoftheworld 12.7 1.3 0.9 26.4 31.7 19FL663194735Brokersanddealers 3.8 49.6 18FL613194733Financecompanies 0.2 12.5 24.6 32.5 1.3 17FL543194733Lifeinsurancecompanies 48.6 16FL513194733Property-casualtyinsurancecompanies 12.3 0.2 29.1 32.4 15FL763194735Liab.:U.S.-chartereddepositoryinstitutions 1.3 52.2 9.8 28.5 32.5 Holdingcompanynettransactionswithaffiliates: 0.2 1.2 51.1 27.8 31.7 14FL643092473Realestateinvestmenttrusts(FHLB) 46.9 13FL613092403Financecompanies 1.2 32.3 12FL543092473Lifeinsurancecompanies(FHLB) 11FL513092403Property-casualtyinsurancecompanies(FHLB) 0.9 31.4 10FL473092403Creditunions(FHLB) 9FL763092405U.S.-chartereddepositoryinstitutions(FHLB) 8FL313092403Federalgovernment 30.4 7FL113092405Nonfinancialnoncorporate(FCS) 6FL103092405Asset:Nonfin.corporatebusiness(FannieMaeandFCS) 5FL403192405Liab.:Government-sponsoredenterprises Equityingovernment-sponsoredenterprises: 4FL713164003Asset:U.S.-chartereddepositoryinstitutions 3FL713164003Liab.:Monetaryauthority FederalReserveBankstock: 2FL313092803Asset:Federalgovernment 1FL313092803Liab.:Restoftheworld FederalgovernmentequityinIBRD,etc.: Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.232 IdentifiedMiscellaneousFinancialClaims-PartI (1) FundsinvestedbyfinancialinstitutionssuchasdomestichedgefundsthroughthePublic-PrivateInvestmentProgram(PPIP). 0621 0821 2019 2019 2018 2017 2016 8210713212514712712112511322 111.3 112.5 112.1 18 9.3 112.7 114.7 10.2 112.5 11.9 113.2 12.4 110.7 13.0 98.2 10.2 15.0 28.4 34.4 3 32.0 31.7 2 1 70.7 32.5 70.7 70.7 32.4 70.7 70.7 32.5 70.7 70.7 31.7 70.7 69.4 32.3 69.4 70.7 31.4 70.7 69.4 30.4 69.4 68.1 68.1 66.6 66.6 48-. 831. 264. 871. 0320 10.3 17.1 48.7 45.5 42.6 17.1 18.3 -6.6 -4.8 ...... 29 0.0 28 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13 0.1 10 0.1 4.3 8 0.1 0.0 3.9 0.0 0.0 3.8 0.0 0.0 3.9 0.1 0.0 3.8 0.0 0.0 3.9 0.2 0.0 4.0 0.2 0.0 4.1 0.0 3.4 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 135 2020

Levels Levels 5 F53705 se: rvt eso ud 8. 9. 6. 872251101644. 0. 35 401.3 48.7 156.4 181.0 33 32 262.5 1614.6 37 401.3 4927.8 36 34 1585.9 48.7 1614.6 4927.8 48.7 4127.6 1663.6 30 1585.9 4127.6 4300.0 313.6 1778.9 465.3 156.4 1663.6 4300.0 4212.8 1683.3 315.4 294.6 1778.9 4212.8 29 181.0 4267.0 1585.9 744.0 1683.3 4267.0 298.8 4127.6 582.3 262.5 1624.4 1585.9 4127.6 28 685.5 4446.2 297.6 1675.7 744.0 48.7 1624.4 4446.2 4017.4 716.6 1693.7 297.3 685.5 1675.7 4017.4 4221.7 465.3 27 707.7 1693.7 4221.7 315.4 716.6 150.1 294.6 699.0 301.0 707.7 142.1 582.3 685.5 287.1 699.0 140.0 26 683.8 150.1 277.6 685.5 137.1 24 702.7 37FL223073045Stateandlocal govt.retirementfunds 142.1 551.5 683.8 135.0 36FL343073045Federalgovernment retirementfunds 666.3 23 140.0 585.2 35FL573073005Asset:Privatepension funds 702.7 142.1 809.2 137.1 576.7 666.3 131.5 34FL223073045Stateandlocalgovernments 845.1 33FL343073045Federalgovernment 135.0 572.6 119.3 831.9 25 32FL573073005Liab.:Nonfinancialcorporatebusiness 142.1 257.8 564.5 100.1 827.9 Claimsofpensionfundonsponsor: 131.5 260.0 585.2 815.5 119.3 255.3 546.3 31FL313195105Asset:Householdsector 845.1 19 30FL313195105Liab.:Federalgovernment(3) 20 21 100.1 255.3 565.0 394.6 128.4 320.8 785.3 Retireehealthcarefunds: 15 251.0 546.5 392.3 128.9 318.6 77.6 805.3 260.0 386.2 29FL663097005Asset:Brokersanddealers 126.0 314.0 768.4 77.6 28FL663097005Liab.:Otherfinancialbusiness 239.0 383.9 123.6 312.7 76.2 Securitiesborrowed(net): 240.2 378.7 120.7 309.0 221.9 392.3 75.5 27FL573074005Asset:Privatepensionfunds 128.9 318.6 12 16 26FL573074005Liab.:Nonfinancialcorporatebusiness 11 427.5 377.1 1347.7 118.9 308.1 39.0 74.9 1338.2 426.6 Pensionfundcontributionspayable: 365.6 120.3 299.4 36.5 1319.0 77.6 419.6 351.7 116.3 262.1 25FL223095505Stateandlocalgovernmentretirementfunds 1313.6 36.6 74.3 24FL573095005Asset:Privatepensionfunds 416.7 1297.9 23FL593095005Liab.:Lifeinsurancecompanies 1338.2 8 413.7 35.7 69.8 1294.2 97.8 Unallocatedinsurancecompanycontracts: 426.6 36.4 1250.2 65.9 91.9 22FL263076005Restoftheworld 408.7 1174.4 36.5 21FL513076005Property-casualtyinsurancecompanies 7 6 382.4 89.9 20FL113076005Nonfinancialnoncorporatebusiness 15.1 15.1 19FL103076005Nonfinancialcorporatebusiness 35.0 364.8 88.8 18FL153076005Asset:Householdsector 10.4 10.4 33.1 89.1 17FL263176005Restoftheworld 3 10.8 10.8 16FL513176005Liab.:Property-casualtyinsurancecompanies 31.3 357.7 91.9 8.9 8.9 Policypayables: 3.7 85.7 15FL543095105Lifeinsurancecompanies 8.3 8.3 1.0 14FL153095105Asset:Householdsector 82.7 10.4 10.4 13FL263195105Restoftheworld 0.0 70.7 12FL543195005Liab.:Lifeinsurancecompanies 7.6 7.6 1.4 Lifeinsurancecompanyreserves: 7.8 7.8 3.7 11FL543077073Asset:Lifeinsurancecompanies 10FL543077073Liab.:Householdsector 8.1 8.1 4.2 Deferredandunpaidlifeinsurancepremiums: 12.1 9FL673090543Asset:ABSissuers 8FL673090543Liab.:Lifeinsurancecompanies(2) 5.6 Fundingagreementsbackingsecurities: 7FL403197033Asset:U.S.-chartereddepositoryinstitutions 6FL403197033Liab.:Government-sponsoredenterprises DepositsatFederalHomeLoanBanks: 5FL313131003Asset:Householdsector 4FL313131003Liab.:Federalgovernment PostalSavingsSystemdeposits: 3FL713091103Monetaryauthority(1) 2FL313091105Asset:Federalgovernment 1FL263191103Liab.:Restoftheworld Nonofficialforeigncurrencies: Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.233 IdentifiedMiscellaneousFinancialClaims-PartII 136 (3) IncludesUniformServices RetireeHealthCareFundandPostalService RetireeHealthBenefitsFund. areincludedinforeigndirectinvestmentthe U.S.SeetablesL.133andL.230. (2) Equaltofundingagreement-backedsecurities (FABS)issuedbydomesticissuersofasset-backedsecurities.Fundingagreement-backedsecurities issuedbyforeignentities (1) Reciprocalcurrencyarrangements(swaplines) withforeigncentralbanks.

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 7. 8. 0. 1. 9. 9. 9. 1. 1. 31 313.6 315.4 298.8 297.6 297.3 315.4 301.0 287.1 277.6 18 609.9 17 603.7 167.7 596.6 166.6 596.8 164.2 591.6 163.5 14 368.5 603.7 161.5 367.6 591.9 166.6 361.7 574.0 161.1 359.4 542.4 159.3 356.8 137.8 367.6 352.2 331.8 318.8 985. 926. 946. 046. 1722 61.7 61.3 60.4 60.1 59.4 61.3 59.2 13 18.6 50.1 18.6 39.8 18.3 10 39.0 18.1 36.5 18.0 9 97.8 36.6 18.6 91.9 35.7 17.8 89.9 36.4 19.3 88.8 36.5 20.0 89.1 35.0 91.9 33.1 85.7 31.3 82.7 70.7 ...... 5 4 0.0 0.0 0.0 0.0 2 0.0 0.0 2.6 1 0.0 360.3 0.0 2.6 0.0 6.4 0.0 2.6 0.0 3.6 0.0 2.6 0.0 2.6 0.0 2.6 0.0 4.0 0.0 2.6 0.0 6.4 0.0 2.6 6.8 2.6 14.7 2.6 8.2 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

5 F43905 oenetsosrdetrrss1071109. 2. 0. 1. 3. 2. 5. 35 150.2 127.3 135.3 115.5 29 632.6 31 102.9 26 216.8 12.0 530.8 127.3 233.4 25 549.6 95.3 17.0 105.9 208.0 28 526.0 79.7 22 221.9 111.0 21.7 219.8 96.7 512.5 168.4 150.7 85.9 211.9 19.9 79.0 530.8 188.6 24 233.4 94.9 24.9 521.3 645.5 93.7 181.6 40FL903090005Discrepancy 204.2 93.2 480.2 350.9 17.0 178.3 90.7 198.3 39FL733093005Holdingcompanies 502.6 367.3 38FL663093005Brokersanddealers 79.7 168.4 28.5 154.4 76.2 366.1 185.0 37FL643093005REITs 76.2 27.1 79.0 36FL613093005Financecompanies 352.3 17 171.4 -5.7 35FL403093005Government-sponsoredenterprises 96.6 35.5 19 350.9 20 63.4 179.5 7011.9 3486.6 34LM563093003Exchange-tradedfunds -134.9 63.0 436.7 5030.6 3444.8 33FL653093005Mutualfunds 70.7 -157.8 5129.6 392.9 32FL633093005Moneymarketfunds 12 8 3386.3 -103.7 58.6 4968.8 99.4 3.1 3328.7 505.8 31FL223093005Stateandlocalgovt.retirementfunds -76.4 5205.9 3285.5 11 55.3 30FL573093005Privatepensionfunds 470.9 5030.6 3.0 3444.8 -134.9 5274.7 57.6 29FL543093005Lifeinsurancecompanies 3233.5 352.0 -82.9 28FL513093005Property-casualtyinsurancecompanies 3276.0 3.2 2989.8 365.3 53.7 -127.6 4160.9 2580.0 7 27FL473093005Creditunions 10 332.4 -176.4 3.2 129.6 26FL743093005BanksinU.S.-affiliatedareas 251.9 54.2 25FL753093005ForeignbankingofficesinU.S. 309.7 86.1 251.7 24FL763093005U.S.-chartereddepositoryinstitutions 55.3 3.2 352.0 23FL713093005Monetaryauthority 6 253.8 111.5 52.1 302.7 668.0 3.0 241.0 22FL213093003Stateandlocalgovernments 117.3 21FL313093003Federalgovernment 324.3 667.0 51.5 229.6 110.4 3.2 322.5 696.2 20FL113093005Nonfinancialnoncorporatebusiness 251.7 55.1 86.1 19FL103093005Nonfinancialcorporatebusiness 685.9 4.1 217.4 94.8 18FL893093005Totalassets 660.1 2 3 220.4 3.8 8399.3 111.1 1860.9 667.0 17FL503193005Otherfinancialbusiness 185.6 8637.7 1835.8 16FL733193005Holdingcompanies 97.3 577.2 8213.6 15FL663193005Brokersanddealers 1813.8 612.9 8049.4 1792.3 14FL643193005REITs 7855.0 1776.0 583.8 13FL613193005Financecompanies 8637.7 1835.8 12FL403193005Government-sponsoredenterprises 7027.1 1756.8 11FL543193005Lifeinsurancecompanies 6841.7 1665.9 10FL513193005Property-casualtyinsurancecompanies 6794.0 1561.5 9FL473193005Creditunions 8FL743193005BanksinU.S.-affiliatedareas 7FL753193005ForeignbankingofficesinU.S. 6FL763193005U.S.-chartereddepositoryinstitutions 5FL713193005Monetaryauthority 4FL313193013Federalgovernment 3FL113193003Nonfinancialnoncorporatebusiness 2FL103193005Nonfinancialcorporatebusiness 1FL893193005Totalliabilities Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted L.234 UnidentifiedMiscellaneousFinancialClaims 02. 447180818561878172419921856134418 14394.4 11855.6 11949.2 11702.4 11827.8 11855.6 11840.8 9444.7 10023.4 12. 749-925-194-987-561-696-194-68840 -3638.8 -1129.4 -1639.6 -1556.1 -1928.7 -1129.4 -2932.5 -724.9 -1720.2 15 -1431.0 -1376.2 -1374.5 -1345.6 -1340.2 -1376.2 -1320.2 -1292.6 -1446.5 0621 0821 2019 2019 2018 2017 2016 33281. 983176299. 04. 00. 02. 05. 1 10755.6 10726.2 10309.6 10146.4 9899.0 10726.2 8908.3 8719.8 8303.2 0. 816. 446. 735. 444. 39 40.6 44.4 54.9 37 67.3 199.5 192.1 67.5 186.1 33 44.4 94.9 189.5 68.1 205.1 291.8 78.1 30 192.1 297.3 884.6 204.8 313.9 104.3 890.0 180.0 305.7 877.7 168.1 291.8 857.6 225.7 846.4 293.1 890.0 227.0 835.6 21 773.0 147.3 698.6 145.7 145.1 143.7 142.0 145.7 140.0 13 126.4 170.7 117.0 159.2 154.3 164.0 155.2 159.2 149.9 203.9 213.4 1. 2. 1. 40-42-02071. 0316 -0.3 14.0 0.7 -10.2 -14.2 14.0 -13.7 -22.7 -12.6 09-401. 2. 1. 2. 3. 2. 7338 87.3 36 55.7 -27.1 51.5 34 -30.5 94.0 46.9 -20.7 84.9 -16.9 46.8 84.1 -27.1 45.7 71.3 14.0 51.5 67.8 -24.0 54.3 27 84.9 102.1 60.9 28.1 88.2 65.9 23 44.8 24.7 90.2 68.9 21.7 88.6 62.8 20.6 89.9 22.8 88.2 22.1 82.5 21.7 75.0 23.1 74.1 25.7 26.5 14 146.2 147.6 9 144.7 14.8 137.7 19.4 149.6 19.5 147.6 20.7 117.6 101.5 19.6 96.7 19.4 18.3 18.3 17.2 . . . 0588961. 058. 32 83.5 10.5 10.7 9.6 8.8 10.5 8.1 6.6 7.3 5 18.8 8.7 4 -0.2 7.8 -0.2 8.5 -0.2 7.5 -0.2 8.7 -0.2 8.2 -0.2 -0.2 7.1 0.1 7.2 0.6 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 137 2020

Levels Balance Sheets 2 F15306 wes qiyra sae(ecn)(ie5/ie4 08 25 36 45 42 44 44 45 48 52 64.84 48 1970.1 50 64.58 661.98 1960.8 64.42 704.94 1951.9 692.29 64.43 1940.6 691.81 1917.5 64.29 51 42 49 686.32 19656.5 1960.8 329.7 16735.7 64.58 19329.8 714.36 16644.8 1899.9 19077.6 371.4 16501.6 671.65 63.64 18908.6 1798.3 16355.7 18634.1 706.49 350.8 16198.5 1721.5 62.50 19329.8 16425.2 677.10 18061.8 352.5 15741.5 60.86 16753.2 14833.0 39 15183.3 339.4 14165.1 39.0 37 36 292.4 371.4 506.7 36.5 289.3 311.3 492.4 52FL155035066Owners’equity/realestate(percent)(line51/line4) 36.6 286.2 35 319.0 476.1 51FL155035065Owners’equityinrealestate(line4lessline33) 385.9 50FL152090006Networth/DPI(percent)(line40/line49) 283.1 35.7 275.1 472.5 49FA156012005Disposablepersonalincome(DPI)(SAAR) 346.3 280.0 453.7 36.4 333.9 48LM165013665Nonresidential(nonprofits) 289.3 492.4 47LM165012665Nonprofitorganizations 337.0 36.5 31 276.9 46LM155012665Households 210.2 463.3 323.4 45LM155012605Residential 35.0 264.6 213.1 Replacement-costvalueofstructures: 488.2 346.3 252.9 33.1 214.2 427.2 44FL154023213Prepaidtuitionplans 337.7 43LM154023223Collegesavingsplans 214.6 31.3 299.1 42FL154023205Assetsheldin529collegeplans(9) 33 22 215.3 41FL893131573AssetsheldinIRAs(9) 10659.1 291.3 27.0 27 10600.1 213.1 26646.4 10534.6 Memo: 27870.6 10436.7 27.8 216.4 27278.6 10350.6 20 28 40FL152090005Networth 27099.1 952.2 10600.1 12472.4 28.5 218.6 26714.2 10320.1 12343.1 27870.6 10052.4 805.9 39FL543077073Deferredandunpaidlifeinsurancepremiums 12302.3 217.0 25846.0 9763.7 29.3 12089.8 38FL163170005Tradepayables(5) 25866.4 813.4 11800.9 24301.8 18 12343.1 30.4 37FL163165505Commercialmortgages(5) 779.4 1020.0 11596.0 36FL153169005Otherloansandadvances 11109.2 1003.4 773.6 16 27.8 10228.8 35FL153168005Depositoryinstitutionloansn.e.c. 837.3 990.1 34FL153166000Consumercredit 805.9 31.4 33FL153165105One-to-four-familyresidentialmortgages(8) 754.9 975.1 782.2 32FL154123005Loans 710.5 13 895.4 35.2 31FL163162003Debtsecurities(municipalsecurities)(5) 2647.7 786.2 672.5 1003.4 2207.4 12 30FL154190005Liabilities 41.3 839.9 943.0 10528.9 2076.0 621.0 11 10150.2 29FL153090005Miscellaneousassets 1339.0 1915.4 1006.6 9995.0 754.9 6 28LM152090205Equityinnoncorporatebusiness(7) 1211.6 1828.4 1058.9 9824.3 27FL153050005Pensionentitlements(6) 463.5 636.9 986.0 2207.4 9792.8 26FL153040005Lifeinsurancereserves 8 459.1 25FL163070005Tradereceivables(5) 1799.0 449.5 10150.2 5794.8 1135.9 9623.8 5 24LM153064205Mutualfundshares 1617.9 454.1 5752.5 1276.2 390.1 23LM153064105Corporateequities 7 9233.8 3634.6 1558.4 5717.2 1211.6 450.1 217.6 9078.2 3587.1 5649.2 22FL163066223Consumercredit(studentloans)(5) 1191.7 3650.5 444.0 213.8 21FL153065005Mortgages 5591.7 1295.0 3562.6 20FL153069005Otherloansandadvances(4) 459.1 5752.5 210.2 1117.6 19FL154023005Loans 3423.5 5519.3 437.1 206.2 3587.1 5302.6 18LM153063005Corporateandforeignbonds 3325.6 412.6 202.1 17LM153062005Municipalsecurities 5155.3 3238.7 16LM153061705Agency-andGSE-backedsecurities 395.7 213.8 15LM153061105Treasurysecurities 2986.4 14LM154022005Debtsecurities 198.7 189.4 13FL153034005Moneymarketfundshares 12FL153030005Timeandsavingsdeposits 178.1 11FL153020005Checkabledepositsandcurrency 10LM153091003Foreigndeposits 9FL154090005Financialassets 8LM155111005Consumerdurablegoods(3) 7LM165013765Intellectualpropertyproducts(nonprofits)(3) 6LM165015205Equipment(nonprofits)(3) 5LM165035005Nonprofitorganizations 4LM155035015Households(2) 3LM155035005Realestate 2LM152010005Nonfinancialassets 1FL152000005Assets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted B.101 BalanceSheetofHouseholdsandNonprofitOrganizations(1) 138 (9) Includedinassetsshown onthehouseholdbalancesheet. (8) Includesloansmadeunderhomeequitylines ofcreditandhomeequityloanssecuredbyjuniorliens(tableL.218,line23). (7) Networthofnonfinancialnoncorporatebusiness (tableB.104,line35)andowners’equityinunincorporatedsecuritybrokersdealers. (6) Includespublicandprivatedefinedbenefit definedcontributionpensionplansandannuities,includingthoseinIRAsatlifeinsurance companies.Excludessocialsecurity. (5) Studentloansandtradereceivablesarefinancial assetsofnonprofitorganizations;municipalsecurities,commercialmortgages,andtradepayables areliabilities. (4) Includescashaccountsatbrokersanddealers andsyndicatedloanstononfinancialcorporatebusinessbynonprofitsdomestichedgefunds. (3) Atreplacement(current)cost. (2) Alltypesofowner-occupiedhousingincluding farmhousesandmobilehomes,aswellsecondhomesthatarenotrented,vacantfor sale,andvacantland.Atmarketvalue. householdsandnonprofitorganizations,respectively. Detailonthesector’sindirectholdingsofdebtsecuritiesandequityisshowntableB.101.e. (1) Sectorincludesdomestichedgefunds,privateequityandpersonaltrusts.Supplementary balancesheettablesB.101.handB.101.nshowestimatesofannualyear-endoutstandings

Z.1, June11,2020 1858102. 2729138. 2227195. 3659138. 24111 127421.1 133884.8 130625.9 129355.8 127202.7 133884.8 121752.9 120326.9 110865.8 67. 61. 79. 88. 86. 89. 81. 88. 84. 46 18742.3 45 18586.3 19051.6 18411.0 18893.3 18196.6 18715.4 18065.7 18497.8 18586.3 18365.1 17895.9 18893.3 16919.0 18192.7 16174.9 17199.4 16440.3 40 110787.2 117335.4 114239.3 113151.0 111173.5 117335.4 105727.4 104793.4 95912.2 32 15990.3 15909.0 15748.2 30 15570.1 16633.8 15396.3 16549.4 15909.0 16386.6 15396.3 16204.8 14917.4 16029.2 14355.9 16549.4 16025.5 15533.5 14953.6 23 15786.8 20607.7 19341.8 19276.1 18944.6 20607.7 16650.4 18111.1 15239.6 9 86995.0 93942.4 90981.8 90142.4 88556.6 93942.4 4 83890.3 84377.8 3 30315.6 77203.3 29929.9 33950.3 29612.1 2 33517.0 29345.3 33262.6 40426.1 28984.7 32907.8 39942.3 29929.9 32408.3 39644.1 28381.9 33517.0 39213.4 26805.7 31707.5 38646.1 24946.9 30044.4 39942.3 27933.3 37862.6 35949.1 33662.4 0621 0821 2019 2019 2018 2017 2016 05093. 20010501000130014501050N 41 ND 11025.0 10475.0 10350.0 10050.0 11025.0 9250.0 9439.0 8015.0 34 4146.4 4180.9 4117.4 4040.9 3988.6 4180.9 29 1292.0 3998.3 1286.7 3813.0 26 1257.1 3620.8 1709.0 1253.7 24 1731.3 1245.7 8064.6 1718.8 1286.7 9798.7 1702.5 1245.1 9229.8 1689.0 1193.0 9149.4 1731.3 1138.8 8799.6 1659.1 9798.7 1626.6 7961.9 1568.1 17 8654.8 1864.3 7306.5 1893.5 15 1462.7 14 1892.1 5184.3 1896.0 1900.2 5547.8 2006.2 1894.8 5598.9 1982.4 1893.5 5530.1 1889.4 1861.0 5300.5 1896.0 1890.2 5547.8 1699.7 1879.5 5140.6 1131.5 4477.7 1093.8 4422.3 6. 8. 9. 0. 9. 0. 0. 0. 0. 47 309.3 307.0 304.4 301.2 43 306.0 299.3 346.3 307.0 326.3 296.8 328.0 280.4 315.8 265.4 346.3 38 394.2 288.8 390.9 294.4 387.6 251.9 384.3 381.1 390.9 377.8 364.4 349.5 25 260.7 259.5 258.3 257.1 255.9 19 1033.1 259.5 890.8 254.7 901.8 250.5 871.5 244.2 869.8 890.8 882.3 903.0 972.9 322. 252. 362. 462. 3844 23.8 25.1 24.6 24.5 23.6 25.1 22.5 24.6 23.2 21 53.9 57.1 59.9 62.8 65.8 57.1 10 68.7 30.0 81.6 37.1 91.7 37.4 37.6 39.0 37.1 39.7 38.9 26.3 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

0 F15175 nelculpoet rdcs26. 22320. 53624. 43122. 53620. 50 2603.1 2563.6 52 2523.4 8927.6 44 2483.1 39.67 7522.7 2444.0 7849.1 29.42 2563.6 7672.8 46 31.51 2405.8 37681.9 43 7751.6 37248.1 45.04 2272.3 31.25 7522.7 36735.8 2164.6 36207.7 42.17 8559.7 31.69 45 35749.4 113.54 7727.8 37248.1 42.00 29.42 34886.3 143.35 7889.8 33036.9 54FL105013613Nonresidential 42.40 133.30 35.41 31584.0 53FL105012613Residential 135.66 43.30 Historical-costvalue ofstructures: 30.63 42 136.65 Memo: 42.17 26587.6 33.88 143.35 33623.0 42.85 52FL102090115Networth(historicalcost)(line46lessline26) 31393.2 39 121.01 31302.9 17512.4 135.46 41.50 30511.8 16008.9 37 51FL105020000Inventories 33623.0 16633.7 6289.8 126.30 50FL105013715Intellectualpropertyproducts 42.79 26666.3 16222.9 7978.6 49FL105013213Equipment 28902.1 15760.4 33 24702.4 48FL105035045Realestate 16008.9 7469.1 1946.0 16273.2 47FL102010115Nonfinancialassets 7414.3 1854.1 15377.4 46FL102000115Assets(sumoflines7and47) 32 14678.6 7121.6 1337.9 1826.8 7978.6 Withnonfinancialassetsstatedathistoricalcost: 1011.5 1799.4 6302.2 1005.6 1775.8 45FL103164106Equities/adjustednetworth(percent)(3) 6552.9 1009.4 1854.1 44FL104104016Debt/equities(percent)(3) 5493.4 1000.0 1725.8 43FL104104006Debt/adjustednetworth(percent)(3) 42LM103164103Marketvalueofequitiesoutstanding 1011.5 1387.6 41LM105013665Nonresidential 988.8 1102.1 40LM105012665Residential 918.8 Replacement-costvalueofstructures: Memo: 966.4 24 5015.8 39FL102090005Networth(marketvalue) 6539.1 38FL103190005Miscellaneousliabilities 6101.5 16 37LM103192005ForeigndirectinvestmentinU.S. 6219.4 22.1 36FL103178005Taxespayable 6004.8 35FL103170005Tradepayables 15.1 12 6539.1 23.6 34FL103165005Mortgages 5503.4 15.3 33FL103169005Otherloansandadvances 6684.0 11.8 32FL103168005Depositoryinstitutionloansn.e.c. 11 5467.9 666.4 16.7 10 31FL104123005Loans 275.2 10.2 558.3 30FL103163003Corporatebonds(1) 19.0 199.9 29FL103162000Municipalsecurities(2) 10.3 528.7 28FL103169100Commercialpaper 184.8 15.1 492.2 27FL104122005Debtsecurities 12.1 9 203.8 18.1 472.6 1490.4 26FL104190005Liabilities 11.8 201.2 1269.6 558.3 23.8 25FL103090005Miscellaneousassets 199.9 14.6 1398.8 466.1 24LM103092005U.S.directinvestmentabroad(1) 13.7 1182.3 187.2 6 23FL103070005Tradereceivables 39.6 499.5 1067.8 2552.3 22LM103064203Mutualfundshares 181.3 4 21LM103064103Corporateequities 1269.6 463.9 2596.3 90.3 5306.2 189.0 1189.7 2583.7 20FL103066005Consumercredit 5273.4 951.7 2581.8 19FL103065003Mortgages 3 5235.0 2573.6 18FL104023005Loans 967.9 14259.2 5210.6 5 14093.1 2596.3 5161.8 14417.5 17LM103062003Municipalsecurities 2982.0 2547.8 14059.9 5273.4 16LM103061703Agency-andGSE-backedsecurities 2932.6 13477.2 2423.0 15LM103061103Treasurysecurities 5104.0 14093.1 2884.2 2316.5 14FL103069100Commercialpaper 13083.1 4872.4 2833.1 12792.9 13LM104022005Debtsecurities 4694.2 11841.3 2778.9 12FL102051003Securityrepurchaseagreements 2932.6 11FL103034000Moneymarketfundshares 2732.9 10FL103030003Timeandsavingsdeposits 2600.0 9FL103020000Checkabledepositsandcurrency 2435.3 8FL103091003Foreigndeposits 7FL104090005Financialassets 6LM105020015Inventories(replacementcost) 5LM105013765Intellectualpropertyproducts(replacementcost) 4LM105015205Equipment(replacementcost) 3LM105035005Realestate(marketvalue) 2LM102010005Nonfinancialassets 1FL102000005Assets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted B.103 BalanceSheetofNonfinancialCorporateBusiness asthesumofdebtsecurities (line27)andloans31).Equitiesare shownonline42. (3) Adjustednetworthiscalculatedas atmarketvalue(line39)lesstheequityportionofforeigndirectinvestmentinUnitedStates atmarketvalue(partofline37).Debtiscalculated (2) Industrialrevenuebonds.Issuedbystateand localgovernmentstofinanceprivateinvestmentandsecuredininterestprincipalbytheindustrial userofthefunds. (1) Through1992,corporatebondsincludenetissues byNetherlandsAntilleanfinancialsubsidiaries,andU.S.directinvestmentabroadexcludes netinflowsfromthosebondissues. 49. 53. 55. 60. 58. 63. 63. 60. 61. 47 16514.9 16409.2 16335.8 16135.2 15982.9 16409.2 15754.2 15038.6 14498.4 26 28754.3 29725.4 28886.7 28534.9 27997.8 29725.4 26326.6 25309.1 23694.2 7 21167.0 20838.9 20400.0 20072.5 19766.6 20838.9 2 19132.2 17998.3 25099.7 17085.6 1 24895.4 25120.4 46266.7 24685.3 45734.3 23991.6 45520.4 24895.4 44757.8 23467.7 43758.2 22688.3 45734.3 21287.3 42599.9 40686.5 38372.8 0621 0821 2019 2019 2018 2017 2016 09557. 55953. 56252. 68153. 71654 5781.6 5730.5 5678.1 5623.6 5566.2 5730.5 51 2280.1 5505.9 2294.4 49 5270.8 5110.1 48 2357.3 5069.5 6521.7 5082.5 2299.3 6468.6 5044.1 2292.2 6411.1 5001.7 2294.4 6351.1 4954.9 2208.4 6291.7 5082.5 2089.8 6468.6 4906.3 2027.8 6233.8 4713.7 5962.8 4561.4 5744.7 41 10072.4 10026.7 9982.1 9924.1 9805.2 38 10026.7 8950.8 9712.9 8828.5 9283.8 35 8510.1 8911.1 2693.0 8367.5 2774.4 8252.5 2758.9 8828.5 2724.7 31 7623.8 2678.9 3765.9 7255.5 2774.4 30 3332.5 7476.4 5957.7 2690.4 3303.1 5787.2 2369.7 3268.3 27 5803.6 2288.3 3230.6 6781.6 5709.2 3332.5 6559.5 5630.9 3145.0 6589.7 5787.2 25 2695.4 6514.8 7519.2 5539.5 2532.2 6437.4 5536.8 23 5384.7 3534.2 6559.5 5629.2 5103.6 21 3588.9 6298.6 5466.7 1828.5 3624.2 6158.3 5700.6 2290.8 3623.8 5837.8 5536.8 2114.7 3553.0 5766.2 2093.9 3588.9 3753.5 2021.3 3509.6 4611.7 2290.8 3113.2 1791.2 2952.3 1948.3 1711.5 1. 2. 4. 5. 4. 4. 4. 5. 5. 40 253.9 252.0 249.8 247.0 245.4 252.0 243.3 34 482.1 229.2 466.9 214.5 470.6 459.4 29 579.8 28 454.7 244.1 577.0 466.9 195.3 569.4 430.3 216.6 569.0 389.0 236.6 565.4 463.7 241.1 22 577.0 276.2 195.3 562.6 327.3 196.5 566.9 309.8 206.7 553.4 308.2 180.8 298.4 327.3 14 270.9 255.0 13 362.4 303.0 246.0 326.0 258.1 241.6 322.0 192.9 278.8 159.2 254.1 246.0 326.0 162.1 253.2 123.7 236.0 132.5 206.7 9314419614710912113414716153 116.1 114.7 113.4 112.1 110.9 114.7 109.6 104.4 99.3 36 273.3 251.9 255.9 245.3 276.9 251.9 266.7 277.2 66.1 20 38.5 19 38.7 18 77.2 39.6 34.2 17 19.0 73.8 38.9 35.0 15 66.3 19.3 73.9 38.7 34.7 45.4 19.2 73.4 38.5 34.5 45.9 19.1 72.9 39.6 34.2 50.1 18.9 73.8 39.6 34.2 57.0 19.3 73.8 39.4 32.2 8 45.4 18.5 71.6 38.9 97.8 29.8 54.4 17.2 68.8 116.7 71.3 19.3 102.2 119.8 41.2 107.7 116.7 106.3 216.6 97.6 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 139 2020

Balance Sheets Balance Sheets 8 F14006 etntwrh(ecn)(ie2/ie3)4.85.85.35.95.44.64.75.95.038 51.00 50.29 49.77 33 49.96 36.6 50.64 37.5 50.29 33.9 51.03 33.2 50.18 29 229.4 49.98 32.1 223.7 37.5 218.2 24 28.3 12.6 218.3 216.7 28 28.2 12.7 1605.0 223.7 1519.9 19.5 12.7 38FL114104006Debt/networth(percent)(line27/line35) 214.5 1516.3 12.6 1522.7 37FL115013665Nonresidential 206.4 36FL115012665Residential 1508.2 12.4 202.8 Replacement-costvalueofstructures: 1519.9 1492.6 12.7 Memo: 1389.0 1260.2 12.5 35LM112090205Networth(5) 14 12.3 34FL113193003Miscellaneousliabilities 141.5 33LM115114005ForeigndirectinvestmentinU.S. 114.7 9.8 32FL113178003Taxespayable 112.8 31FL113170005Tradepayables 12 13 404.8 1217.4 110.9 30FL113165005Mortgages 1149.7 350.2 109.5 29FL113169005Otherloansandadvances 1130.4 28FL113168005Depositoryinstitutionloansn.e.c. 343.8 114.7 1111.5 9 27FL114123005Loans 337.4 1097.0 299.0 107.8 26FL114190005Liabilities 1149.7 332.4 296.1 99.8 1080.2 25FL113093005Other 350.2 293.9 1000.1 90.7 24FL113092405EquityinvestmentinGSEs(4) 326.7 909.0 23FL113076005Insurancereceivables 291.1 22FL113090005Miscellaneousassets 306.0 287.4 21FL113070003Tradereceivables 279.3 296.1 20FL113066003Consumercredit 285.0 19FL113065005Mortgages 18FL114023005Loans 273.0 17LM113062003Municipalsecurities 259.1 16LM113061003Treasurysecurities 15LM114022005Debtsecurities 14FL113034003Moneymarketfundshares 13FL113030003Timeandsavingsdeposits 12FL113020005Checkabledepositsandcurrency 11FL114090005Financialassets 10LM115020005Inventories(2) 9LM115013765Intellectualpropertyproducts(2) 8LM115013265Nonresidential 7LM115012265Residential(3) 6LM115015205Equipment(2) 5LM115035035Nonresidential 4LM115035023Residential 3LM115035005Realestate(1) 2LM112010005Nonfinancialassets 1FL112000005Assets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted B.104 BalanceSheetofNonfinancialNoncorporateBusiness 140 (5) IncludedintableB.101,line28. (4) EquityintheFarmCreditSystem. (3) Durablegoodsinrentalproperties. (2) Atreplacement(current)cost. (1) Atmarketvalue.

Z.1, June11,2020 06. 14. 11. 25. 12. 21. 22. 25. 28. 35 12387.6 12259.7 12221.7 12011.4 11722.5 12259.7 11517.8 11040.5 10161.0 3 13182.0 2 13209.5 13195.9 15046.8 13164.9 1 14923.5 12873.4 14864.7 21518.8 13209.5 14631.9 21189.0 12673.0 14327.0 21023.1 12231.7 14923.5 20685.6 11424.0 14116.0 20300.3 13552.7 21189.0 12699.5 19995.6 19007.0 17540.1 0621 0821 2019 2019 2018 2017 2016 08124. 29927. 26527. 27227. 27237 2267.2 36 3995.2 2272.1 3971.4 2277.2 3942.8 2279.0 3905.7 2266.5 3886.6 2272.1 3971.4 2259.9 34 1860.9 3858.4 2144.9 1835.8 3675.5 2048.1 1813.8 3511.0 1792.3 1776.0 30 4483.4 1835.8 4422.1 1756.8 27 4347.9 1665.9 6317.7 4260.1 1561.5 26 6165.7 4211.3 9131.2 6082.4 4422.1 8929.4 25 6001.1 3486.6 4170.6 8801.4 5936.2 3444.8 3944.8 8674.2 6165.7 22 3386.3 3615.2 8577.7 3627.5 5877.8 3328.7 8929.4 3586.4 5540.2 3285.5 8477.8 3525.0 5078.3 3444.8 7966.5 3464.9 3233.5 7379.1 3418.7 2989.8 3586.4 2580.0 3364.9 3122.4 2706.1 11 6472.0 6265.5 6158.4 6053.8 5973.2 6265.5 5879.6 5 5454.3 4 5798.1 4840.5 7743.8 5750.8 7686.7 5836.9 7560.8 5719.6 7450.7 5538.1 7344.1 5750.8 7686.7 5423.1 7270.8 5311.5 6874.3 4974.4 6407.2 3. 3. 4. 4. 4. 4. 4. 4. 5. 32 150.9 31 765.2 149.4 741.0 147.8 723.5 146.3 701.3 145.1 688.4 149.4 741.0 143.7 671.2 23 137.2 128.4 595.1 132.5 21 128.9 937.3 587.2 126.0 923.0 123.6 907.5 120.7 892.3 128.9 880.8 118.9 923.0 120.3 867.2 116.3 802.9 747.9 10 250.7 250.2 8 897.6 247.9 6 883.0 258.3 955.1 867.7 262.6 939.6 854.7 250.2 925.2 837.7 261.2 912.2 883.0 260.0 894.8 819.5 249.8 939.6 783.7 875.9 760.6 834.0 809.0 954. 185. 265. 425. 6019 56.0 18 56.0 55.1 55.1 16 80.6 54.2 15 87.6 54.2 79.3 53.3 86.3 53.3 78.0 52.6 84.8 52.6 76.7 55.1 83.4 55.1 75.7 51.8 82.3 51.8 79.3 48.0 86.3 48.0 7 74.5 39.5 57.5 81.1 39.5 69.0 56.6 75.1 63.0 57.5 68.1 57.5 57.2 56.6 56.3 50.3 48.5 ...... 20 0.0 0.0 17 7.0 0.0 6.9 0.0 6.8 0.0 6.7 0.0 6.6 0.0 6.9 0.0 6.5 0.0 6.0 5.1 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

9 F13935 qiyivsmn ne PP00000000000000000029 31 0.0 -193.1 76.7 0.0 19.2 33 0.0 16735.7 -24.6 16644.8 16501.6 0.0 16355.7 -76.0 32 28 16198.5 110787.2 172.6 117335.4 16425.2 -4.7 114239.3 113151.0 0.0 15741.5 111173.5 27.6 117335.4 14833.0 105727.4 20 104793.4 65.6 14165.1 95912.2 0.4 0.0 200.4 2.1 265.6 21 0.4 0.0 -17.5 246.7 171.8 -40.1 1.0 0.0 740.3 -11.4 492.9 1.2 0.0 -18.8 804.9 0.7 1.6 569.0 15 82.3 33FA156012005Disposablepersonalincome 3.4 -68.7 32FL152090005Networthoutstanding(4) 166.3 -50.0 2.2 Memo: 185.3 11 -97.4 41.6 179.3 31FV158090005Othervolumechanges(3) 14 5.3 13 792.7 -75.3 41.3 12 710.4 7.9 30FR153030005Otherfinancialassets 287.1 687.0 2.8 29FR153094305EquityinvestmentunderPPIP 520.6 40.9 285.3 28FR152090205Equityinnoncorporatebusiness 538.8 403.6 8 218.3 27FR153050005Pensionentitlements 6 281.9 40.3 507.2 9 -3.0 241.3 26FR153040005Lifeinsurancereserves 53.8 62.0 441.4 25FR153064205Mutualfundshares 279.1 606.0 39.9 710.5 7 24FR153064105Corporateequities -3.2 54.2 702.6 438.3 275.4 23FR154022005Debtsecurities 464.2 346.8 2042.3 162.4 1503.6 -3.3 433.4 1121.8 54.3 1629.8 360.8 22FR154090005Financialassets 155.0 1122.6 1109.3 1418.9 428.4 361.3 -3.3 54.3 812.9 1068.8 146.8 780.6 21FR155111005Consumerdurablegoods(2) 423.4 20FR165013765Intellectualpropertyproducts(2) 355.4 1033.3 316.3 141.4 54.1 -3.3 19FR165015205Equipment(2) 1723.6 346.3 18FR155035005Realestate 1683.7 216.8 -13.0 1423.7 1606.1 17FR152010085Nonfinancialassets 204.1 1375.9 -12.5 1542.2 1313.5 192.5 16FR158000005Netholdinggains -11.9 1258.0 191.4 15FU154190005-Netincreaseinliabilities -11.6 14FU154090005Netacquisitionoffinancialassets 13FU155000005Netlending(+)ornetborrowing(-) 12FU156300103Consumerdurablegoods 11FU166330005Nonprofitnonresidential 10FU156320005Residential 9FU156300005-Consumptionoffixedcapital 8FU155420003Nonproducednonfinancialassets 7FU155111003Consumerdurablegoods 6FU165013005Nonprofitnonresidential 5FU155012005Residential 4FU155050005Capitalexpenditures 3FU155061005Netphysicalinvestment 2FU155060005Netinvestment 1FC152090005Changeinnetworth(1) Billions ofdollars;notseasonallyadjusted R.101 ChangeinNetWorthofHouseholdsandNonprofitOrganizations (4) TableB.101,line40. (3) Consistsofstatisticaldiscontinuitiesanddisaster-relatedlossestofixedassets.AlsoincludesthedifferencebetweenseriesforconsumptioncapitalpublishedbyBEA. (2) Valuedatcurrentcost. (1) Sumofnetinvestment(line2),holdinggains16),andothervolumechanges31). 0621 0821 2019 2019 2018 2017 2016 47323. 16. 96225. 7. 4914. 42. 24 -4827.6 1249.0 94.9 22 -7549.8 479.8 2199.7 18 2152.6 419.4 365.4 3976.2 1372.4 17 193.4 -1364.9 348.0 4036.1 2738.3 296.3 8027.5 153.0 1417.3 -2214.4 442.8 16 283.8 5700.6 -7201.8 642.2 2352.6 425.0 2715.6 703.2 1574.8 645.0 1468.6 1797.4 1506.7 1945.5 4681.1 1421.8 1688.1 9534.3 1849.7 -792.7 1607.1 7550.3 4322.7 4 577.7 584.4 581.0 571.2 561.9 1 2298.4 -6548.1 3096.0 2222.1 1088.3 2122.0 1977.5 2014.8 5446.1 11607.9 934.0 8881.2 5283.4 4. 089-3. 4697912163. 6. 19. 27 -1395.2 25 469.4 -1557.6 474.5 36.8 6.8 251.6 739.1 248.4 1496.9 755.9 -535.0 1485.6 1008.9 -668.9 449.1 1039.2 293.8 10 112.6 111.7 110.6 109.1 5 108.0 180.1 439.4 172.6 3 419.4 168.8 136.4 390.4 164.8 146.0 2 367.5 164.8 846.8 147.6 670.9 666.7 142.7 654.5 365.9 138.5 627.9 204.7 574.8 577.0 841.1 538.5 2078.4 515.9 1661.1 472.6 1328.8 788.9 2. 84-2. 7. 1. 1. 91-6714723 104.7 -36.7 79.1 117.4 114.2 274.1 -121.2 68.4 -29.7 543. 1. 552. . . 59-6926 -46.9 15.9 1.9 9.9 27.8 55.5 -16.9 39.4 15.4 85-. . 2704-. 21-. 0419 -0.4 -0.7 -2.1 -0.3 0.4 -2.7 1.0 -3.6 -8.5 . . 05-. 02-. 05-. . 30 0.3 -0.2 -0.5 -0.2 -0.2 -1.0 -0.5 1.6 0.6 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 141 2020

Balance Sheets Balance Sheets 1 F12905 e ot usadn 5 47. 57. 67. 60. 56. 62. 63. 60. 71. 31 30 17512.4 1890.3 16008.9 16633.7 -592.0 16222.9 79.5 29 15760.4 28 338.4 16008.9 -1711.3 16273.2 26 -196.9 457.5 -115.2 15377.4 -1560.1 14678.6 -719.6 404.6 28.3 -27.8 -1429.1 -119.1 -83.6 1797.3 222.6 116.4 -1255.9 -205.6 740.2 20 -194.4 19.2 524.4 -432.1 1448.6 926.2 186.0 -482.4 17.2 -1111.8 810.7 -270.1 19.8 933.9 -142.3 299.1 33.2 24.0 31FL102090005Networthoutstanding(5) 16.6 Memo: 77.7 15 -100.6 11 30FV108090005Othervolumechanges(4) 31.1 16.2 -121.7 13 -105.3 29FR573073005Claimsofpensionfundonsponsor 80.8 -0.8 834.6 14 12 28FR103192005ForeigndirectinvestmentinU.S. -38.4 639.6 195.0 243.0 44.5 7.0 27FR108100005Less:liabilities 192.1 7 -173.4 50.9 301.0 6 -0.3 -438.8 211.1 26FR103092005Directinvestmentabroad -1.1 14.0 89.9 218.8 -529.6 25FR103064203Mutualfundshares 287.3 -0.3 24FR103064103Corporateequities -27.4 -320.8 -34.2 -68.5 -3.9 8 381.7 23FR104022005Debtsecurities -576.8 0.0 426.7 735.5 36.0 -409.0 1.2 1072.1 22FR108080095Financialassets -336.6 422.1 876.9 1079.2 7.1 0.0 -202.4 21FR105020015Inventories(2,3) -51.5 481.8 417.9 549.0 20FR105013765Intellectualpropertyproducts(2) 67.2 53.7 1.2 762.2 -48.9 413.6 951.1 19FR105015205Equipment(2) 18FR105035005Realestate 189.0 407.5 -0.9 62.6 1.0 17FR102010005Nonfinancialassets 1661.1 51.1 1572.0 -1.1 16FR108000005Netholdinggains 1493.5 27.9 0.4 1432.2 15FU103164103Netcorporateequityissues 26.6 14FU104194005-Netincreaseinliabilitiesandequity 6.9 13FU104090005Netacquisitionoffinancialassets 12FU105000005Netlending(+)ornetborrowing(-) 11FU105020601-Inventoryvaluationadjustment 10FU106330005Nonresidential 9FU106320005Residential 8FU106300005-Consumptionoffixedcapital 7FU105420005Nonproducednonfinancialassets 6FU105020005Inventorychange+IVA 5FU105019005Fixedinvestment 4FU105050005Capitalexpenditures 3FU105061005Netphysicalinvestment 2FU105060005Netinvestment 1FC102090005Changeinnetworth(1) Billions ofdollars;notseasonallyadjusted R.103 ChangeinNetWorthofNonfinancialCorporateBusiness 142 (5) TableB.103,line39. (4) Consistsofstatisticaldiscontinuitiesanddisaster-relatedlossestofixedassets. (3) Beforeinventoryvaluationadjustment. (2) Valuedatcurrentcost. (1) Sumofnetinvestment(line2),holdinggains16),andothervolumechanges30).

Z.1, June11,2020 0621 0821 2019 2019 2018 2017 2016 47218. 58215. 0. 1. 1. 2. 2. 10 425.4 420.9 416.9 412.5 5 406.5 503.8 4 1656.8 513.9 517.6 1568.2 516.4 479.5 1489.2 1427.2 519.2 552.4 517.3 526.4 2066.8 572.1 2001.0 2130.4 1859.1 2051.0 1746.2 1887.4 1779.7 5. 4. 26411. 3. 3. . 4. 17. 27 -1372.9 342.3 24 0.5 -458.2 180.5 139.1 24.9 534.6 22 76.6 1016.5 -2066.6 600.5 -296.4 234.0 18 540.6 -92.7 151.8 516.0 156.8 203.6 17 -344.6 -118.8 137.8 786.1 334.4 326.0 -278.4 16 1497.5 559.1 145.9 -556.0 312.4 -1254.7 -20.3 372.0 1297.6 588.1 191.6 920.9 219.2 369.1 156.5 652.6 991.1 867.5 620.7 258.3 524.2 1472.2 1008.6 -700.1 580.0 1765.7 614.8 3 74.7 58.2 127.5 1 113.8 1503.4 -624.8 168.5 410.8 468.1 462.6 530.5 -512.9 442.8 -264.3 348.4 895.8 698.9 381.1 2. 074. . 2250-48308719 8.7 3.0 -14.8 5.0 12.2 5.4 48.5 30.7 -29.0 2 169.1 -12.6 112.1 7.0 -413.9 -307.4 -201.5 189.1 -39.3 333. 2. 142. . . 63-2425 -52.4 16.3 0.3 8.5 21 -41.9 26.2 46.0 51.4 -27.0 -0.1 -22.2 37.3 -31.7 13.3 -12.8 22.1 29.7 40.2 0805-. . . . . 084023 4.0 -0.8 1.2 2.0 1.5 3.9 -1.9 0.5 -0.8 ...... 9 1.2 1.2 1.0 1.1 1.0 4.3 3.8 4.3 4.9 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

3 F14205 iaca ses(etscrte)-. . 1235132014-. . 23 6.5 26 12387.6 -1.3 12259.7 19 21 12221.7 0.2 -1.4 12011.4 1.4 20 11722.5 36.0 12259.7 -1.5 -1.3 11517.8 2.0 11040.5 1.9 10161.0 -0.6 -1.0 18 1.3 50.0 15.9 -0.3 -0.1 -96.9 3.5 11.5 0.2 -1.2 103.0 39.4 -1.2 14 168.4 -3.7 -2.3 -44.8 68.7 0.1 113.0 10.1 2.8 3.2 13 287.6 32.4 156.8 -1.0 9.7 7.4 62.0 -1.4 26.3 135.1 26LM112090205Networthoutstanding(5) 12 23.1 292.4 11 -2.5 136.6 4.4 200.0 18.5 43.2 Memo: 173.7 -42.1 118.9 108.4 8 -26.7 25FV118090005Othervolumechanges(4) 54.8 0.8 103.2 91.4 -33.4 78.6 24FR115114005investmentinU.S.) 445.5 90.6 -3.2 -40.3 Less:liabilities(foreigndirect 511.9 92.3 89.8 37.5 98.5 23FR114022005Financialassets(debtsecurities) 681.3 382.5 88.8 -63.0 -219.9 22FR115020005Inventories(3) 447.6 426.5 21FR115013765Intellectualpropertyproducts(3) 87.8 -85.4 20FR115013265Nonresidentialequipment(3) 613.6 19FR115012265Residentialequipment(3) -67.7 357.0 383.9 18FR115035035Nonresidentialrealestate 17FR115035023Residentialrealestate -63.7 340.0 322.9 16FR112010005Nonfinancialassets 310.5 15FR118000005Netholdinggains 14FU112090205Proprietor’snetinvestment(2) 13FU114190005-Netincreaseinliabilities 12FU114090005Netacquisitionoffinancialassets 11FU115000005Netlending(+)ornetborrowing(-) 10FU116330005Nonresidential 9FU116320005Residential 8FU116300005-Consumptionoffixedcapital 7FU115020005Changeininventories 6FU115019005Fixedinvestment 5FU115050005Capitalexpenditures 4FU115061005Netphysicalinvestment 3FU115060005Netinvestment 2FU115440005Netcapitaltransferspaid 1FC112090205Changeinnetworth(1) Billions ofdollars;notseasonallyadjusted R.104 ChangeinNetWorthofNonfinancialNoncorporateBusiness (5) TableB.104,line35. (4) Consistsofstatisticaldiscontinuitiesanddisaster-relatedlossestofixedassets. (3) Valuedatcurrentcost. (2) ShownontableF.104,line32. (1) Sumofnetcapitaltransferspaid(line2),investment3),holdinggains15),andothervolumechanges24). 0621 0821 2019 2019 2018 2017 2016 299179-. . 4. 31971. 4. 3 -44.8 10.1 9.7 23.1 -42.1 0.8 -0.1 107.9 -219.9 8. 6. 9. 1. 859. 391777. 17 79.7 127.7 16 166.5 93.9 15 32.1 172.6 90.9 27.6 199.4 98.5 264.5 200.4 411.0 248.6 265.6 10 63.2 390.2 744.6 246.7 468.7 488.2 62.9 740.3 387.2 801.3 489.9 62.3 570.1 795.5 6 61.4 49.8 569.0 5 61.2 48.2 117.3 247.9 121.8 117.3 239.5 127.6 123.2 229.0 47.5 129.2 221.4 50.3 414.2 1 127.9 424.8 420.0 38.0 397.7 428.4 373.8 210.3 400.0 288.9 374.2 204.8 741.9 477.3 879.5 350.7 1. . 24-67-. 59-18232122 2.1 2.3 -11.8 -5.9 -1.3 -16.7 -2.4 7.9 -11.1 909. 0. 0. 662. 752. 829 28.2 27.7 27.5 27.4 4 26.6 -43.2 109.1 26.7 100.5 33.4 93.8 40.3 89.0 -37.5 63.0 88.4 77.1 63.7 . 1. 9408020202020125 0.1 24 0.4 0.2 3.2 0.2 0.4 0.2 0.9 0.2 3.2 0.8 7.7 -9.4 -2.8 -14.5 6.0 1.5 0.2 7 -1.6 0.0 1.4 1.6 2 0.0 2.7 0.0 5.7 0.0 3.6 0.0 2.3 0.0 0.4 0.0 -3.0 -9.4 0.0 1Q 3Q Q1 Q4 Q3 Q2 Q1 Z.1, June11,2020 143 2020

Balance Sheets Supplements 7 F13905 es opoi ic iblte B11n ie2)79370783481595296193999412. 37 36 1023.8 1995.6 999.4 1945.4 33 1893.1 973.9 35 31 113.3 15577.6 1833.3 946.1 9604.7 32 15079.5 114.8 1808.6 1933.3 8932.9 14614.3 945.2 1723.3 111.4 1838.1 14066.4 8664.5 34 881.5 13656.3 1609.6 30 1745.9 16549.4 111.5 8093.4 25 26 13482.7 1589.3 126326.7 803.4 16025.5 492.4 1654.9 7591.8 36.5 114772.9 115.4 13241.5 1519.6 15533.5 770.7 113519.7 13093.6 1536.1 7302.1 463.3 24 104538.7 13094.0 14953.6 106.9 35.0 709.3 29 99208.1 267.7 1488.3 28 6886.8 14519.7 488.2 133884.8 96162.1 107.3 117335.4 6137.8 14324.5 1410.5 33.1 262.8 121752.9 105727.4 90392.2 427.2 5666.0 120326.9 103.1 1276.7 14047.7 104793.4 82000.0 13912.3 110865.8 37 FL163193005Less:Nonprofitmisc.liabilities(B.101.n,line27) 227.6 95912.2 31.3 1151.4 77232.8 101.0 437.4 13904.3 105148.4 36 FL164190005Nonprofitliabilities(B.101.n,line20) 90628.7 101869.0 35 FL194190005Householdliabilities(B.101.h,line20) 223.4 31.6 34 FL154190005Less:Householdandnonprofitliabilities(B.101,line30) 95761.3 87544.5 514.0 86758.1 81713.6 217.2 22 33 FL164041085Less:Nonprofitothernotesandloansreceivable(9) 81646.3 16 480.8 72845.8 29.9 32 FL163093005Less:Nonprofitmisc.assets(B.101.n,line19) 10600.1 67742.0 1731.3 172.4 31 FL162000005Nonprofittotalassets(B.101.n,line1) 443.3 10320.1 30 FL192000005Householdtotalassets(B.101.h,line1) 18 28.7 17 1659.1 13 29 FL152000005Householdandnonprofittotalassets(B.101,line1) 10052.4 377.0 161.4 12343.1 27870.6 780.2 1626.6 9763.7 25.7 28 FL152090005Householdandnonprofitnetworth(B.101,line40) 11596.0 149.2 25846.0 1568.1 9579.4 11109.2 758.7 25866.4 159.4 25.0 nonprofitorganizationsectornetworth:(8) 11 10228.8 Reconciliationwithhouseholdand 1510.9 24301.8 9454.4 760.4 784.6 9860.7 23426.3 1472.1 Memo: 9479.7 23096.7 815.3 9150.1 15 9562.3 739.4 1407.8 8 27 FL192090005Networth 22266.8 28309.5 9776.2 8475.0 1352.6 819.2 19722.0 2093.4 809.1 6 26 FL543077073Deferredandunpaidlifeinsurancepremiums 22754.3 7424.6 18688.7 1350.4 10 1702.3 24936.2 870.3 1018.5 6736.4 870.9 25 FL193169005Otherloansandadvances 4433.0 20882.8 24 FL193168005Depositoryinstitutionloansn.e.c. 1530.8 1010.4 7 818.2 23 FL153166000Consumercredit 4087.6 1037.7 19134.8 4 22 FL153165105One-to-four-familyresidentialmortgages(7) 1472.6 1125.3 9937.3 758.1 19325.4 3361.0 21 FL194123005Loans 1580.9 5752.5 1476.5 959.6 17268.2 9405.2 726.1 3255.8 1468.2 20 FL194190005Liabilities 5519.3 13708.7 1498.8 2073.2 11757.5 9012.9 1060.8 3294.4 19 FL153090005Miscellaneousassets 5302.6 1533.4 1995.7 18 LM152090205Equityinnoncorporatebusiness(6) 8851.5 964.7 2832.1 5155.3 1534.8 17 FL153050005Pensionentitlements(5) 8183.7 2804.1 983.0 1524.7 5006.0 16 FL153040005Lifeinsurancereserves 3327.9 7670.5 799.9 4859.3 15 LM193064005Corporateequitiesandmutualfundshares 3297.1 7119.4 694.1 4779.6 14 FL193065005Mortgages 6928.9 4727.5 13 FL153067005Otherloansandadvances(4) 6610.3 12 FL194023005Loans 4644.7 11 LM193063005Corporateandforeignbonds 10 LM193061005U.S.governmentandmunicipalsecurities 9LM194022005Debtsecurities 8FL193034005Moneymarketfundshares 7FL193030205Timedepositsandshort-terminvestments 6FL193020005Checkabledepositsandcurrency 5FL194090005Financialassets 4LM155111005Consumerdurablegoods(3) 3LM155035015Realestate(2) 2LM192010005Nonfinancialassets 1FL192000005Assets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted B.101.h BalanceSheetofHouseholds(1) 144 (9) Loans,otherthansyndicatedloans,thatarenotincludedinhouseholdandnonprofitorganizations’ otherloansandadvances(tableB.101,line20). (tableB.101.n)withthehouseholdandnonprofitorganizationsector’sB.101)incore FinancialAccounts. organizationsector(tableB.101).Therefore,someadjustmentsarenecessarytoreconcilethe combinedassetsandliabilitiesofthehouseholdsector(tableB.101.h)nonprofitorganizationsector (8) Somefinancialassetandliabilityitemsshownonthesupplementalbalancesheetofnonprofit organizations(tableB.101.n)arenotincludedonthebalancesheetofhouseholdandnonprofit (7) Includesloansmadeunderhomeequitylinesofcreditandsecuredbyjunior liens(tableL.218,line23). (6) Networthofnonfinancialnoncorporatebusiness(tableB.104,line35)andowners’equityin unincorporated securitybrokersanddealers. (5) Includespublicandprivatedefinedbenefitcontributionpensionplansannuities, includingthoseinIRAsandatlifeinsurancecompanies.Excludessocialsecurity. (4) Cashaccountsatbrokersanddealers. (3) Atreplacement(current)cost. (2) Alltypesofowner-occupiedhousingincludingfarmhousesandmobilehomes,aswellsecond homesthatarenotrented,vacantforsale,andland,atmarketvalue. (1) TableisbasedontableB.101BalanceSheetofHouseholdsandNonprofitOrganizations,with adjustmentstoremovetheassetsandliabilitiesofnonprofitorganizations,shownontableB.101.n.

Z.1, June11,2020 43. 80. 75. 27. 55. 07. 80. 99. 179127 110749.1 99693.5 98905.4 90472.3 85551.8 21 82679.5 15541.1 20 77150.7 15044.5 68906.3 15577.6 64138.8 14581.2 15079.5 14035.1 14614.3 13624.7 14066.4 13452.7 13656.3 13212.8 13482.7 13068.0 13241.5 13068.9 13093.6 13094.0 5 90644.2 3 80871.7 81411.4 29929.9 2 74436.4 28381.9 35682.4 70985.0 26805.7 33901.2 1 69616.6 24946.9 32108.3 126326.7 65289.8 23217.1 30102.3 114772.9 58726.1 21686.1 113519.7 54482.9 28223.1 20322.9 104538.7 26545.5 18546.4 99208.1 25102.5 18105.2 96162.1 23273.9 90392.2 22749.9 82000.0 77232.8 76421. 00931. 30632. 83039. 10923 4180.9 3998.3 3813.0 3620.8 3390.6 3311.9 3090.9 2913.2 2756.4 9 5217.7 4827.0 4170.1 4126.7 4332.1 4413.0 4272.3 5401.1 5292.8 0121 0321 0521 0721 2019 2018 2017 2016 2015 2014 2013 2012 2011 6. 7. 04914. 02113. 13014. 26719 1286.7 14 1245.1 55.9 1193.0 1138.8 12 67.6 836.1 1082.1 80.5 1042.8 826.3 90.5 1024.9 840.9 971.5 97.9 905.8 964.6 917.1 112.4 982.7 120.9 124.1 939.1 137.2 882.1 863.3

9 F14905 Ttlfnnilast fpiaefudtos69368173174976280788290595629 27 995.6 1023.8 30 920.5 24 999.4 4349.2 78.6 898.2 4051.1 973.9 74.9 840.7 3925.5 946.1 3692.5 786.2 71.6 945.2 3442.1 21 784.9 881.5 67.9 3420.6 213.1 743.1 18 803.4 3253.6 19 216.4 63.4 658.1 259.5 2929.2 770.7 1933.3 218.6 2661.1 609.3 63.3 254.7 709.3 1838.1 217.0 1745.9 250.5 54.6 16 1654.9 219.9 244.2 56.6 139.0 9 30 FL164090025Totalfinancialassetsof501(c)organizations 1536.1 12 228.1 29 FL164090015Totalfinancialassetsofprivatefoundations 17 114.0 241.0 50.0 138.3 218.7 1488.3 2096.8 234.5 Memo: 96.7 240.7 137.2 1410.5 203.6 1857.9 248.3 28 FL162090005Networth 1276.7 213.2 136.1 11 87.0 197.6 1829.7 262.4 1151.4 27 FL163193005Miscellaneousliabilities(8) 111.4 207.6 1663.3 137.4 188.0 7 85.8 26 FL163170005Tradepayables 198.6 110.0 1513.8 8 131.2 193.0 173.3 5 25 FL163169385Otherloansandadvances 74.6 250.0 1552.6 110.1 24 FL163168005Depositoryinstitutionloansn.e.c. 213.8 133.2 181.4 23 FL163165505Commercialmortgages 171.3 1494.7 22 FL164123005Loans 258.3 107.6 69.2 124.0 198.7 169.7 1230.5 168.5 21 FL163162003Debtsecurities(municipalsecurities) 259.8 124.4 109.0 1052.9 58.5 189.4 175.7 157.9 20 FL164190005Liabilities 253.0 110.9 173.9 55.1 178.1 146.4 19 FL163093005Miscellaneousassets(7) 251.0 86.2 60.1 167.1 134.9 18 FL163070005Grantsandtradereceivables 257.5 92.9 17 LM163064005Corporateequitiesandmutualfundshares 160.8 121.8 257.5 101.7 16 FL164041005Othernotesandloansreceivable(6) 111.0 153.4 15 FL163066223Consumercredit 254.8 104.8 14 FL163065013Mortgages 141.5 13 FL164023005Loans 234.7 129.4 12 LM163063005Corporateandforeignbonds 11 LM163061005U.S.governmentandmunicipalsecurities(5) 10 LM164022005Debtsecurities 9FL163034003Moneymarketfundshares 8FL163030205Otherdepositsandshort-terminvestments(4) 7FL163020005Cashandnon-interest-bearingdeposits 6FL164090005Financialassets 5FL165013765Intellectualpropertyproducts(3) 4FL165015205Equipment(3) 3FL165035005Realestate(2) 2FL162010005Nonfinancialassets 1FL162000005Totalassets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted B.101.n BalanceSheetofNonprofitOrganizations(1) (8) NotincludedontableB.101. (7) Includespledgesreceivable,receivablesfromofficersanddisqualifiedpersons,prepaidexpenses anddeferredcharges,otherinvestments,financialassets.NotincludedontableB.101. (6) Includessomeloansthatarenotincludedinhouseholdandnonprofitorganizations’holdings ofotherloansandadvances(tableB.101,line20). (5) Excludestheshort-termdebtsecuritiesincludedinline16. inoneyearorless. (4) Includesinterest-bearingcheckingandsavingsaccounts,depositsintransit,commercialpaper, certificatesofdeposit,andU.S.Treasurybillsorothergovernmentalobligationsthatmature (3) Atreplacement(current)cost. (2) Residentialandnonresidentialrealestateatmarketvalue. bystaff. organizationsorwithlessthan$25,000ingrossannualreceipts.Mostfinancialassetandliabilityinformationfromtaxdataavailablealag;recentvaluesestimated (1) Includesprivatefoundations,includingcharitabletrusts,andorganizationsthataretax-exemptunderSections501(c)(3)through501(c)(9)oftheInternalRevenueCode.Doesnotincludereligious

16444. 27357. 73266. 71468. 69128 7609.1 6987.5 6771.4 6260.1 5783.2 5578.7 5277.3 20 4548.5 1995.6 4146.4 1945.4 1893.1 1833.3 1808.6 1723.3 1609.6 1589.3 1519.6 6 5344.8 4971.5 3 4823.7 3587.1 2 4533.3 3325.6 4259.9 1 4228.3 3238.7 3961.4 9604.7 4205.5 2986.4 3840.8 8932.9 3996.7 2813.8 3560.2 8664.5 3587.3 2571.7 3363.5 8093.4 3270.4 2390.6 3096.5 7591.8 2082.1 2890.1 7302.1 1958.9 2550.5 6886.8 2395.6 6137.8 5666.0 0121 0321 0521 0721 2019 2018 2017 2016 2015 2014 2013 2012 2011 9. 0. 9. 2. 4. 4. 6. 7. 9. 26 390.9 377.8 23 22 289.3 364.4 367.9 276.9 349.5 351.8 264.6 341.3 336.2 252.9 322.1 320.8 238.8 295.4 302.2 228.3 301.0 291.7 293.9 221.7 13 276.2 212.8 168.0 269.3 204.0 170.8 254.1 10 330.1 173.4 313.6 178.6 307.6 183.1 295.5 4 179.9 459.1 282.4 185.8 437.1 282.2 183.1 192.4 412.6 254.6 268.6 395.7 275.5 382.6 364.1 346.1 326.9 307.3 715. 184. 494. 523. 7815 27.8 31.4 35.2 41.3 44.9 47.6 51.8 58.0 67.1 ...... 25 0.0 0.0 0.0 0.0 0.0 14 0.0 1.2 0.0 1.1 0.0 1.1 0.0 1.2 0.8 1.1 0.8 1.1 1.0 Z.1, June11,2020 145

Supplements Supplements 7 F13646 oa ses(ie1 28 50 24 53 43 44 42 53 05 27 28 25 20.52 30.06 8.21 25.32 36.09 26 8.17 12.02 24.25 34.82 8.32 11.64 24.49 35.15 8.05 11.94 24.34 34.97 7.85 11.56 25.32 36.09 11.27 22.45 8.17 32.58 11.64 25.01 35.66 8.09 21 11.73 22.80 5126.6 32.73 7.43 6622.1 10.59 7.76 19 6122.1 11.15 264.9 20 18 6138.5 123.8 17 3388.4 355.0 5917.4 1456.8 16 161.0 4347.6 6622.1 324.6 10360.5 15 1812.4 4028.8 28 FL153064486Financialassets(line3) 147.5 13298.0 5241.5 15786.8 27 FL153064476Totalassets(line1) 1710.8 326.3 4060.7 12 12333.8 20607.7 Equityshares(line14)asapercentof 5889.8 149.3 1730.0 2750.4 12404.7 19341.8 316.2 3943.3 26 FL154022386Financialassets(line3) 4867.2 11 12019.5 1696.5 146.1 19276.1 25 FL154022376Totalassets(line1) 2877.7 4347.6 10 355.0 8 14 66.4 Debtsecurities(line5)asapercentof 13298.0 18944.6 1812.4 2805.8 299.1 161.0 26147.2 7 3497.1 443.7 10682.5 20607.7 277.9 Memo: 9 1537.7 70.0 33905.6 2697.6 6 11979.5 5271.8 16650.4 3870.7 283.5 128.4 467.4 1712.3 24 FL152090005Networth 31675.5 308.7 1766.1 10032.7 18111.1 5184.3 2574.3 5386.2 3211.0 67.6 275.9 31680.8 144.2 1687.7 15239.6 463.7 23 FL154190005Liabilities 1581.1 5547.8 246.9 2877.7 5267.1 30964.1 1654.1 74.5 126.6 65.6 22 FL153099475Other 5598.9 454.9 2465.0 33905.6 4886.3 4 1593.6 27332.9 21 LM653064155Mutualfunds 5530.1 2457.5 69.2 4680.2 444.6 63.6 20 LM223064213Stateandlocalgovt.retirementfunds(2) 14545.6 30090.6 1528.5 5300.5 19 LM343064125Federalgovt.retirementfunds(2) 2187.9 5 3 5386.2 13606.3 25272.3 467.4 18 LM573064175Privatepensionfunds(2) 283.5 70.0 1687.7 5547.8 10456.1 17 LM543064153Lifeinsurancecompanies 86995.0 13094.5 4703.3 432.2 1464.8 10933.9 281.0 2 93942.4 12913.1 5140.6 60.4 16 LM153064175Indirectlyheld 4457.9 10866.0 90981.8 1398.8 12936.4 40426.1 444.4 4477.7 97.0 4184.6 15 LM153064105Directlyheld 10416.4 90142.4 13606.3 60.2 39942.3 1262.3 4422.3 429.1 9980.7 88556.6 14 LM153064475Equitysharesatmarketvalue 12654.3 39644.1 248.5 93942.4 56.9 12185.6 10933.9 39213.4 13 FL154023005Loans 83890.3 11780.4 9843.9 38646.1 12 LM654022055Mutualfunds 84377.8 39942.3 8935.6 11 LM223064223Stateandlocalgovt.retirementfunds(2) 77203.3 10 LM344022025Federalgovt.retirementfunds(2) 37862.6 8606.8 9LM574022075Privatepensionfunds(2) 35949.1 8LM544022053Lifeinsurancecompanies 33662.4 7LM154022075Indirectlyheld 6LM154022005Directlyheld 5LM154022375Debtsecuritiesatmarketvalue 4FL154000025Deposits(1) 3FL154090005Financialassets 2FL152010005Nonfinancialassets 1FL152000005Assets Billions ofdollars;amountsoutstandingendperiod,notseasonallyadjusted B.101.e BalanceSheetofHouseholdsandNonprofitOrganizationswithDebtEquityHoldingsDetail 146 (2) Definedcontributionplans.Assetsheldbydefinedbenefitpensionfundsarenotconsideredassetsofthehouseholdsector.entitlementsincludedinline22. (1) Includesforeigndeposits,checkabledepositsandcurrency,timesavingsmoneymarketfundshares.

Z.1, June11,2020 1858102. 2729138. 2227195. 3659138. 24111 127421.1 133884.8 130625.9 129355.8 127202.7 133884.8 121752.9 120326.9 110865.8 45. 53. 62. 64. 62. 60. 68. 64. 63. 23 24 16633.8 22 110787.2 16549.4 34812.9 117335.4 16386.6 114239.3 34605.7 16204.8 113151.0 34444.0 111173.5 16029.2 34260.6 117335.4 16549.4 105727.4 33805.7 104793.4 16025.5 34605.7 95912.2 15533.5 33177.0 14953.6 32263.0 30570.8 0621 0821 2019 2019 2018 2017 2016 7. 0. 8. 9. 6. 7. 0. 9. 03113 1033.1 890.8 901.8 871.5 869.8 890.8 882.3 903.0 972.9 1Q 3Q Q1 Q4 Q3 Q2 Q1 2020

6 F07006 ttsia iceac sapretg fGP-.4-.9-.6-.5-.0-.0-.500 46 43 0.05 10.8 -0.35 -67.6 -0.60 -112.0 -1.40 -254.9 -1.65 44 -289.2 38 20580.2 -160.3 -0.96 19519.4 991.3 -241.3 18715.0 37 -1.49 18224.8 948.5 -53.2 855.7 40 17527.3 39 -0.34 36 16784.9 963.9 16903.0 818.3 17406.7 16197.0 31 16069.3 4297.3 16574.3 15542.6 925.4 15419.9 20.0 826.6 4121.4 15912.9 14900.5 15659.0 851.1 3975.4 14388.2 799.9 15133.4 17.4 13849.2 3858.1 14386.2 771.4 13522.8 746.5 13982.8 3671.7 13152.9 16.1 13235.3 752.9 30 668.5 3509.1 34 24 808.8 46 FA087005086StatisticaldiscrepancyasapercentageofGDP 146.9 18.3 2297.4 3291.1 646.6 20.0 45 FA086902203AverageofGDPandGDI 33 2365.2 3243.8 107.8 44 FA086902005Equals:GDP(NIPA,expenditureapproach) 22.9 692.1 2311.1 17.4 2333.7 27 43 FA087005005Plusstatisticaldiscrepancy(NIPA) 91.7 2377.6 42 FA896902505Grossvalueadded(line1) 2334.4 3499.3 21.9 16.1 Addendum: 2346.0 25 2191.3 3370.8 83.2 29 2346.1 22.7 7840.6 32 2038.6 3189.9 1801.1 41 FA896006001Equals:Netsaving 18.3 2201.1 94.6 7318.0 17545.9 1843.8 3202.3 1717.5 22.2 16708.8 2046.8 40 FA896901001Less:Finalconsumptionexpenditures 6913.3 22.9 1734.3 3116.0 1615.9 16053.6 87.8 20 23 1851.6 6787.5 15787.9 2949.4 1611.7 39 FA896012005Equals:Disposableincome,net 4345.5 21.9 -197.7 15242.5 1741.1 6591.0 91.8 2737.5 1628.3 14494.7 3571.9 22 360.7 6333.7 38 FA896403005Less:Othercurrenttransfers(paid) 14094.7 2413.2 1563.9 22.7 3362.0 15 13357.7 1801.1 84.8 37 FA896403105Plus:Othercurrenttransfers(received) 6297.3 331.4 1502.7 3365.0 36 FA896404005Less:Socialcontributions(paid) 2040.0 1717.5 6009.2 22.2 1375.3 35 FA896404105Plus:Socialbenefits(received) 323.0 3277.6 1949.5 1615.9 16 34 FA896220005Less:Currenttaxesonincome,wealth,etc.(paid) 3087.8 1876.8 1611.7 337.9 1441.8 33 FA896220001Plus:Currenttaxesonincome,wealth,etc.(received) 13 2917.4 1841.5 32 FA896140001Netnationalincome/Balanceofprimaryincomes,net 1628.3 1364.5 348.2 10928.5 2568.2 1773.9 1563.9 1312.8 10411.6 31 FA896112001Rentsonlandandnaturalresources 317.2 1721.0 9960.3 1502.7 10 1277.1 30 FA893192201Reinvestedearningsonforeigndirectinvestment 1639.2 342.5 1375.3 838.3 9698.2 29 FA896122001Withdrawalsfromincomeofquasi-corporations 1240.8 9 28 FA896121001Dividends 1600.0 9249.1 1188.7 6 714.6 1106.2 27 FA896120005Distributedincomeofcorporations 8834.2 1136.1 957.9 26 FA896130001Interest 2040.0 643.5 8566.7 1103.7 25 FA896150005Less:Usesofpropertyincome(paid) 1949.5 861.7 4 24 FA896112101Rentsonlandandnaturalresources 613.1 8225.9 7 1876.8 23 FA893092201ReinvestedearningsonU.S.directinvestmentabroad 837.7 10941.4 612.5 1377.4 1841.5 22 FA156122101Withdrawalsfromincomeofquasi-corporations 2 10424.5 21 FA896121101Dividends 1303.3 853.5 1773.9 9972.7 592.7 11 20 FA896120105Distributedincomeofcorporations 3291.4 1251.0 1721.0 9709.2 17545.9 823.4 19 FA896130101Interest 567.4 3121.4 1219.9 16708.8 1639.2 9259.7 18 FA896150105Propertyincome(received) 799.7 16053.6 2991.6 552.8 1182.7 17 FA366402015Subsidiespaid 1600.0 8843.6 15787.9 2916.5 16 FA896240001Taxesonproductionandimports,receivable 1128.9 789.2 15242.5 8575.4 15 FA156401101Employers’socialcontributions 2815.0 14494.7 1078.1 8234.0 14 FA156020101Wagesandsalaries 14094.7 2681.2 1043.7 13357.7 13 FA156025105Compensationofemployees(received) 2576.0 12 FA896402101Operatingsurplus,net 11 FA896140001Equals:Netnationalincome/Balanceofprimaryincomes,net 2474.5 10 FA266904101Less:Incomepaymentstotherestofworld 9FA266904001Plus:Incomereceiptsfromtherestofworld 8FA896402101Operatingsurplus,net 7FA896240101Taxesonproductionandimportslesssubsidies 6FA896401001Employers’socialcontributions 5FA896020001Wagesandsalaries 4FA896025001Compensationofemployees(paid) 3FA896902601Equals:Netvalueadded 2FA886300091Less:Consumptionoffixedcapital (incomeapproach) 1FA896902505Grossvalueadded Billions ofdollars S.1.a TotalEconomy-CurrentAccount

56. 61. 66. 77. 85. 87. 95. 07. 45 20574.8 19553.2 18771.0 42 18352.2 20569.5 17671.8 19587.0 16865.0 18827.0 16317.7 18479.7 15569.2 17816.4 16945.2 16438.4 15595.8 3 17278.0 16465.5 15835.4 15563.2 1 15001.4 14263.9 20569.5 13862.4 19587.0 13121.4 18827.0 18479.7 17816.4 16945.2 16438.4 15595.8 21237. 45435. 83035. 14747. 35 4279.9 4104.7 3959.6 3843.0 3657.4 3495.4 28 3277.7 1698.2 26 3231.2 1653.3 4174.4 1573.9 3822.0 1590.6 3615.6 1487.7 21 3483.7 1385.5 2544.4 3357.4 1234.9 19 1854.5 3274.6 18 1038.0 3953.5 1746.1 3445.2 8121.4 3624.1 1753.4 3489.0 7574.2 3434.3 1649.3 7143.9 14 3316.9 1523.9 7023.2 8888.5 3204.2 1414.8 12 6842.6 8462.1 3115.9 1192.9 4959.2 6573.8 8083.5 3280.8 4737.7 6538.2 7856.7 3320.9 4611.7 6253.7 7475.2 4634.1 8 7113.2 4559.0 6927.5 4959.2 4291.4 6625.9 4737.7 5 4208.9 4611.7 8901.4 3843.6 4634.1 8474.9 4559.0 8095.9 4291.4 7867.8 4208.9 7485.8 3843.6 7122.6 6936.1 6634.0 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 6. 5. 5. 5. 5. 6. 6. 6. 17 -64.4 -61.1 -61.8 -57.3 -58.1 -59.7 -58.0 -60.0 2440057075378443055053841 503.8 505.0 493.0 758.4 745.3 537.0 460.0 82.4 Z.1, June11,2020 147

Integrated Accounts Integrated Accounts 7 F28005 tt n oa oenet366575757318-7830889524867 244.8 839.5 380.8 63 60 -27.8 488.2 -27.3 64 331.8 1006.1 801.3 -4.5 785.7 -2754.9 570.1 -1620.6 64.4 527.5 577.0 56 762.0 346.6 -15.6 -1.1 603.3 57 -2317.4 1590.5 -3541.7 74.6 62 -58.7 907.2 -1166.6 -1022.1 -792.2 665.3 -306.7 -693.5 -218.3 -82.8 7548.8 53 110.7 130.5 255.4 -265.4 316.7 4322.0 50 53.5 55 67.1 -202.4 1638.1 -265.6 49 -213.8 525.6 -85.4 4268.9 67.2 -152.5 -1077.4 146.4 68 FR265000005 Restoftheworld 286.6 6742.2 -1062.1 -67.7 -170.0 67 FR218200005 Stateandlocalgovernment 8.1 189.0 277.6 3803.9 66 FR318200005Federalgovernment 17.3 -214.6 45 -63.7 65 FR798200005Financialbusiness 9.2 -372.8 10.8 64 FR108200005Nonfinancialcorporate business 237.5 -226.0 418.7 63 FR112010005Nonfinancialnoncorporate business -78.2 44 -271.6 62 FR158200095Householdsandnonprofit institutionsservinghouseholds -218.6 -297.6 -67.6 41 600.5 Holdinggains/losses -72.0 -378.2 55.7 130.6 48 -301.6 40 1344.3 -112.0 47 61 FV268090185Restoftheworld 36 -64.0 1122.6 -85.6 37 -346.4 -225.9 -300.8 60 FV218090185Stateandlocalgovernment 187.4 -113.8 -254.9 3.6 51.1 59 FV318090185Federalgovernment 812.9 -15.1 54.7 -67.9 -267.7 306.3 58 FV798090185Financialbusiness -289.2 74.0 802.4 57 FV108090105Nonfinancialcorporatebusiness 316.3 27.9 2.3 -270.4 -1.6 -160.3 -371.3 -63.9 56 FV118090105Nonfinancialnoncorporatebusiness 11.7 34 55 FV158090185Householdsandnonprofitinstitutionsservinghouseholds -296.1 996.0 -241.3 403.6 26.6 Totalothervolumechanges 279.6 -78.4 0.4 -321.1 115.1 958.1 -53.2 -209.6 54 FA265000005Restoftheworld 266.1 -72.1 112.6 39 -331.2 236.6 Addendum: 715.2 19.3 32 37.4 928.8 38 53 FA215000005Stateandlocalgovernment 74.3 256.6 -64.2 236.5 206.9 1074.1 52 FA315000005Federalgovernment -517.4 9.6 30 774.7 -724.9 51 FA795000005Financialbusiness 251.4 -15.2 83.1 1482.2 222.7 31 27 342.1 339.8 -408.5 50 FA105000005Nonfinancialcorporatebusiness -234.6 696.1 1575.2 396.8 49 FA115000005Nonfinancialnoncorporatebusiness 246.3 21.4 -1.7 210.7 -329.9 28 73.5 322.7 48 FA155000005Householdsandnonprofitinstitutionsservinghouseholds 1495.6 817.9 47 FA885000005Netlending(+)ornetborrowing(-)(financialaccount) 378.0 3291.4 238.8 -169.6 -2.3 199.5 310.3 25 1433.3 41.5 804.7 3121.4 46 FA265000905Restoftheworld 232.0 369.7 -86.8 285.7 190.3 1405.9 45 FA087005005Statisticaldiscrepancy(NIPA) 302.6 4.8 2991.6 23 636.4 29 Addendum: 222.2 355.8 -209.1 1349.2 265.1 19 24 181.8 424.8 574.4 291.6 2916.5 44 FA215000905Stateandlocalgovernment 1008.8 -73.3 2004.5 -200.3 1279.7 43 FA315000905Federalgovernment 338.8 16 2815.0 172.5 257.8 397.7 21 277.2 42 FA795000905Financialbusiness 537.2 791.1 15 1857.4 1230.6 -414.0 -5.9 -72.2 41 FA105000905Nonfinancialcorporatebusiness 330.8 4260.7 2681.2 -3.0 165.2 240.4 267.3 373.8 40 FA115000905Nonfinancialnoncorporatebusiness 1169.3 508.9 1751.7 2576.0 3995.3 39 FA155000905Householdsandnonprofitinstitutionsservinghouseholds 333.7 -72.4 191.5 218.7 1783.2 260.6 361.7 38 FA885000985Netlending(+)ornetborrowing(-)(capitalaccount) -9.4 485.7 2474.5 3786.9 22 341.0 1753.8 -69.1 2.6 203.0 858.7 354.1 37 FA105020005Nonfinancialcorporatebusiness 3712.2 467.3 0.0 1606.5 36 FA115020005Nonfinancialnoncorporatebusiness -70.6 193.2 3562.8 320.0 35 FA145020005Changeininventories 820.4 437.8 -3.2 1542.8 13 14 3321.9 168.1 0.0 -71.6 289.8 34 FA216300001Stateandlocalgovernment 1391.0 412.0 -239.2 768.4 9.8 3171.6 -6.7 33 FA316300001Federalgovernment 10 -74.4 259.1 -248.1 32 FA796300081Financialbusiness(nonresidential) 402.2 705.9 2922.9 0.0 529.1 31 FA106300003Nonfinancialcorporatebusiness -5.7 -15.0 -246.8 -74.1 30 FA116300001Nonfinancialnoncorporatebusiness 633.6 467.7 29 FA156300003Householdsandnonprofitinstitutionsservinghouseholds -0.0 -220.3 14.7 -17.0 28 FA886300095Consumptionoffixedcapital 592.0 7 428.6 -238.0 -4.9 27 FA215019001Stateandlocalgovernment -6.4 524.8 21.4 1774.3 527.7 -265.4 26 FA315019001Federalgovernment 1708.1 25 FA795013005Financialbusiness(nonresidential) 468.1 -1.6 9.3 -282.8 588.9 24 FA105019085Nonfinancialcorporatebusiness 4 1663.2 9 23 FA115019085Nonfinancialnoncorporatebusiness -275.1 642.2 22 FA155019005Householdsandnonprofitinstitutionsservinghouseholds 1626.8 10063.1 20.0 3 1210.4 21 FA885019005Grossfixedcapitalformation 9607.3 575.9 1573.5 3707.4 1030.9 -4.8 20 FA265440005Restoftheworld 9238.0 1526.1 597.8 3510.1 19 FA215440005Stateandlocalgovernment 958.8 9139.0 1463.0 18 FA315440005Federalgovernment 2.4 3331.9 17 FA795440005Financialbusiness 1048.8 8786.9 1443.0 16 FA105440005Nonfinancialcorporatebusiness 3315.9 970.8 15 FA115440005Nonfinancialnoncorporatebusiness 8374.1 2 3257.5 14 FA155440005Householdsandnonprofitinstitutionsservinghouseholds 8059.1 801.4 Netcapitaltransfers 3088.6 2569.9 7615.3 1107.6 2978.5 2445.7 13 FA216006005Stateandlocalgovernment 12 FA316006085Federalgovernment 849.8 2805.1 2349.0 11 FA796012005Financialbusiness 10 FA106012005Nonfinancialcorporatebusiness 2256.2

Z.1, June11,2020 59. 63. 64. 71. 87. 82. 98. 06. 1 20569.5 19587.0 18827.0 18479.7 17816.4 16945.2 16438.4 15595.8 14. 12. 654-9. 525-7. 445-06752 -1026.7 -474.5 -673.9 -522.5 -591.8 -655.4 43 -1127.7 -1065.8 -1349.8 -534.0 -716.0 -584.6 -653.7 -697.3 -1187.3 -1395.6 12 -1009.8 -724.7 -677.0 -570.1 -604.3 -637.9 -1078.6 -1242.0 392-5. 6. 451155403-0. 02768 1022.7 -808.0 480.3 135.5 1415.1 361.0 -455.7 1329.2 5 1657.6 1545.0 1493.4 1403.2 1316.7 1170.4 1200.3 1058.8 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 115302110-2. 6. 2. 3. 1. 58 311.5 -37.5 224.9 264.7 -224.2 101.0 300.2 -141.5 6. 500-649-. 369-6. 53110665 190.6 -563.1 -763.7 -336.9 -4.9 -1684.9 -530.0 54 460.6 323.7 342.3 406.4 324.5 240.8 46 506.7 342.7 468.8 476.0 42 501.6 441.9 -52.9 424.5 -165.9 376.0 -19.4 369.4 -68.6 441.6 -10.4 467.2 33 -24.4 286.1 107.7 277.1 181.3 271.8 271.4 26 290.4 270.2 276.8 265.9 261.6 265.5 18 254.9 265.3 52.7 263.8 -188.2 269.6 53.8 287.3 51.4 295.7 11 13.2 58.4 58.1 -20.8 84.9 29.4 6 113.8 -27.7 797.1 27.9 770.7 -3.2 751.6 138.0 738.5 151.8 723.1 711.0 719.0 716.8 4. 3. 3. 7. 6. 3524021351 231.3 234.0 13.5 169.1 -70.6 137.0 -38.2 -41.9 17 16.9 102.7 1.8 0.0 10.0 0.0 9.6 -32.4 283. 424. . 849. 9466 89.4 91.7 68.4 8.9 61 59 172.8 48.5 100.6 -149.3 74.2 -126.5 -111.0 80.9 35.0 -89.8 118.3 32.8 -196.7 87.5 38.8 33.0 38.6 40.9 84.5 37.4 35 54.7 30.2 27.1 131.9 84.0 104.5 71.2 46.3 8 503.8 505.0 493.0 758.4 745.3 537.0 460.0 82.4 1665-. 04-. 05-. . 20 2.8 -9.4 -0.5 -0.4 -0.4 -0.8 6.5 -1.6

1 F22905 tt n oa oenet40. 22353. 26355. 37058. 07781 6037.7 5986.1 5327.0 74 5056.2 51.6 5236.3 77 78 5130.6 11517.8 659.1 -10393.1 11040.5 -13524.7 5232.3 -10023.9 270.8 10161.0 4802.5 -8746.3 70 9810.3 -180.2 -10356.0 477.3 71 9104.9 -8420.4 105.7 3131.6 -4449.2 8434.2 879.5 -2813.5 -101.7 -3500.8 7386.7 350.7 -1277.5 76 429.8 6709.0 1609.7 105727.4 705.4 199.1 104793.4 -1935.6 95912.2 670.7 -3971.2 90628.7 69 82 FL262090095Restoftheworld 87544.5 1047.5 -1635.7 934.0 81 FL212090095Stateandlocalgovernment 81713.6 575.1 677.7 80 FL312090095Federalgovernment 72845.8 8881.2 79 FL792090095Financialbusiness 67742.0 497.2 78 FL102090085Nonfinancialcorporatebusiness 5283.4 77 LM112090205Nonfinancialnoncorporatebusiness 76 FL152090005Householdsandnonprofitinstitutionsservinghouseholds 3084.2 Networth 5830.9 75 FC262090095Restoftheworld 8867.8 74 FC212090095Stateandlocalgovernment 5103.7 73 FC312090095Federalgovernment 72 FC792090095Financialbusiness 1277.1 71 FC102090085Nonfinancialcorporatebusiness 70 FC112090205Nonfinancialnoncorporatebusiness 69 FC152090005Householdsandnonprofitinstitutionsservinghouseholds Changeinnetworth Billions ofdollars S.2.a SelectedAggregatesforTotalEconomyandSectors

96. 1551-14. 1606-26. 1764-31. 110180 -14190.1 -13317.7 -12746.4 73 -12164.9 -872.5 -11670.6 -11143.9 -571.3 -10555.1 -9467.4 -581.5 -494.3 -526.7 -588.8 -1087.7 -1285.6 21041. 04767. 19376. 49398. 82 9181.5 7479.3 7960.5 7149.3 75 6679.1 1702.1 5084.7 -481.2 4315.6 811.2 4291.0 470.2 1594.4 769.1 24.6 1880.9 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 6. 6. 725-3. 13. 14. 26. 17. 79 -1770.5 -2268.9 -1544.8 -1033.6 -933.7 72 -722.5 498.4 864.7 -724.1 966.0 -511.2 -99.9 -211.2 -1587.2 -101.4 503.2 Z.1, June11,2020 149

Integrated Accounts Integrated Accounts 9 F13935 qiyivsmn ne ulcPiaeIv rga 3 . 34-...... 59 0.0 0.0 0.0 0.0 0.0 -1.8 -3.4 0.5 59 FA153094305 EquityinvestmentunderPublic-PrivateInv. Program(3) 58 FA152090205 Equityinnoncorporatebusiness 57 FA153034005 Moneymarketfundshares 56 FA153064205Mutualfundshares 55 FA153064105Corporateequities 54 FA153081005Equityandinvestment fundshares 37 -12.5 53 FA153065005Longterm(mortgages) 52 FA154041005Shortterm -11.9 51 FA154023005Loans -11.6 50 FA153063005Corporateandforeign bonds 49 FA153062005Municipalsecurities -10.6 38 48 FA153061705Agency-andGSE-backedsecurities(2) 928.8 -9.5 47 FA153061105Treasurysecurities 774.7 46 FA154022005Debtsecurities -9.3 696.1 33 45 FA313131003Postalsavingssystemdeposits 858.7 -9.1 44 FA153091003Foreigndeposits 817.9 43 FA153030005Timeandsavingsdeposits 820.4 -9.5 804.7 42 FA153020005Currencyandtransferabledeposits 768.4 41 FA154000005Currencyanddeposits 636.4 705.9 1008.8 40 FA154090005Netacquisitionoffinancialassets 791.1 633.6 39 FA155000905Netlending(+)orborrowing(-)(line38) 592.0 Financialaccount 524.8 468.1 38 FA155000905Netlending(+)orborrowing(-),capitalaccount(lines29-32) 37 FA155420003Acquisitionofnonproducednonfinancialassets 36 FA156300003Less:Consumptionoffixedcapital 35 FA165013005Nonresidential(nonprofitorganizations) 19 34 FA155012005Residential 627.5 33 FA155019005Grossfixedcapitalformation,excludingconsumerdurables 21 32 FA155050905Capitalformation,net 2077.6 582.1 2045.8 556.2 31 FA155440005Less:Capitaltransferspaid(net) 1956.1 30 FA156006005Netsaving 545.1 1937.8 29 FA156006315Netsavinglesscapitaltransfers 1784.0 18 525.6 Capitalaccount 1801.1 20 1675.8 15872.1 518.9 1508.9 1717.5 15033.1 1453.2 554.1 14315.8 1615.9 28 FA156006005Equals:Netsaving 13981.9 582.4 1611.7 13369.1 12645.2 1628.3 27 FA156901001Less:Finalconsumptionexpenditures 7 12374.7 11647.7 1563.9 195.9 1502.7 26 FA156012095Equals:Disposableincome,net 1375.3 188.4 4 25 FA156403001Less:Othercurrenttransfers(paid) 961.1 178.8 24 FA156403101Plus:Othercurrenttransfers(received) 916.9 23 FA156600001Less:Socialcontributions(paid) 171.2 9 22 FA156404105Plus:Socialbenefits(received) 888.5 15872.1 165.7 21 FA156220001Less:Currenttaxesonincome,wealth,etc.(paid) 15033.1 20 FA156140005Netnationalincome/Balanceofprimaryincomes,net 854.3 14315.8 159.0 13981.9 155.2 812.2 13369.1 19 FA156130001Less:Usesofpropertyincome(interestpaid) 12645.2 154.1 18 FA156122101Withdrawalsfromincomeofquasi-corporations(1) 12374.7 11647.7 780.0 17 FA156121101Dividends 758.8 16 FA156120105Distributedincomeofcorporations 723.8 15 FA156130101Interest 14 FA156150105Propertyincome(received) 13 FA156401101Employers’socialcontributions 12 FA156020101Wagesandsalaries 11 FA156025105Compensationofemployees(received) 10 FA156402101Operatingsurplus,net 9FA156140005Netnationalincome/Balanceofprimaryincomes,net 8FA156402101Operatingsurplus,net 7FA156240101Taxesonproductionandimportslesssubsidies 6FA156401001Employers’socialcontributions 5FA156020001Wagesandsalaries 4FA156025005CompensationpaidbyhouseholdsandNPISHs 3FA156902605Equals:Netvalueadded 2FA156300003Less:Consumptionoffixedcapital 1FA156902505Grossvalueadded Currentaccount Billions ofdollars S.3.a HouseholdsandNonprofitInstitutionsServing 150

Z.1, June11,2020 04. 10. 11. 12. 28. 24. 31. 39. 27 13998.7 13312.1 26 12748.5 15209.1 12284.3 14343.0 11822.8 13707.3 11317.2 13333.1 11006.8 10641.1 12793.5 12118.6 12114.4 11491.0 50512. 3. 20114. 8. 48912. 40 1629.8 1418.9 780.6 1348.5 1280.1 939.2 1222.7 1500.5 22 2918.3 2800.1 2714.6 2633.0 2498.6 2385.9 16 2322.6 3028.5 15 2310.1 1704.1 14 2847.5 4732.6 13 1553.0 2679.9 2040.0 4400.4 12 1458.9 2644.5 8888.5 1949.5 4138.8 1439.4 2581.5 11 8462.1 1876.8 4083.9 10928.5 1350.6 2357.2 8083.5 10411.6 1841.5 3932.0 2337.8 1274.4 9960.3 7856.7 2056.8 1773.9 1331.9 3631.6 9698.2 1270.7 7475.2 3669.7 1721.0 3327.5 9249.1 1639.2 7113.2 1600.0 6927.5 8834.2 6625.9 8566.7 8225.9 3 1995.5 1908.4 1840.1 1 1770.5 2569.9 1691.5 2445.7 1637.2 2349.0 1606.4 2256.2 1554.6 2158.8 2075.0 2018.4 1956.8 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 490-7. 2. 4. 130-. 3. 9. 55 -95.9 133.3 -7.3 -123.0 144.4 225.7 47 -179.6 609.6 -419.0 -41.2 102.1 321.3 -201.4 -150.2 142.5 -102.8 2. 021496. 3. 2259. . 58 6.4 56 99.4 -24.1 -202.5 309.1 131.3 52.2 68.9 97.5 144.9 50 219.4 -5.0 20.2 231.4 228.4 48 -21.5 329.5 201.3 46 175.3 -92.8 55.2 796.0 -235.3 -44.9 -95.2 70.0 -74.2 189.6 43 42 389.9 -382.9 -103.3 235.9 102.2 65.5 41 191.0 177.5 287.4 -82.5 -135.0 226.9 675.1 -74.0 -78.6 381.1 -711.4 137.2 506.7 19.0 590.9 105.9 39 928.8 494.8 260.9 598.8 -5.2 774.7 190.5 483.2 193.9 371.4 696.1 387.0 125.6 382.6 817.9 489.2 291.0 663.7 804.7 36 574.4 35 636.4 204.1 34 537.2 1008.8 654.5 791.1 192.5 508.9 627.9 191.4 485.7 577.0 182.1 467.3 523.7 169.7 30 437.8 463.9 1210.4 29 168.0 412.0 1200.6 1030.9 423.9 166.7 402.2 1045.9 958.8 358.0 154.0 944.1 314.2 1048.8 1027.4 970.8 28 1210.4 961.5 801.4 1030.9 781.3 1107.6 958.8 849.8 1112.4 25 847.5 1048.8 200.4 970.8 192.9 801.4 186.7 23 1107.6 1356.5 849.8 189.7 1299.6 179.6 1239.9 1204.7 170.8 1153.6 163.9 17 1104.3 1227.5 145.6 950.5 1130.0 916.7 1064.0 1032.9 10 953.2 838.6 793.3 803.1 8 835.1 838.6 772.9 681.5 6 803.1 5 745.0 166.6 794.4 772.9 713.5 158.2 758.7 745.0 698.2 157.9 2 730.6 692.4 713.5 147.8 574.4 676.7 706.5 698.2 142.8 537.2 692.4 669.4 138.3 508.9 676.7 641.7 134.3 485.7 624.5 126.9 467.3 597.0 437.8 412.0 402.2 7. . . 2. 1. . 9411257 181.2 59.4 7.3 54 67.6 -16.9 601.3 -23.9 -150.3 2.0 89.1 5.1 408.8 -73.5 602.2 171.8 -88.3 6413614916729527921221832 271.8 271.2 247.9 209.5 156.7 144.9 103.6 56.4 24 53.2 48.1 59.7 50.3 42.9 38.4 40.4 48.5 623. 904. 5. 50-98-. 52 -7.8 51 -20.7 -59.8 -70.0 -5.0 49 -12.0 -10.0 -56.0 -70.8 -37.4 44 46.2 0.8 38.0 11.7 59.0 55.5 12.6 -39.6 31.5 18.5 -53.3 -5.6 -6.2 -0.1 -43.3 -13.8 -115.0 -6.4 -0.4 2.6 -7.9 -9.9 . 1. 35-. 1. 70-01-2953 -12.9 -10.1 -7.0 45 -14.8 0.0 -8.2 0.0 -3.5 0.0 -12.9 6.1 0.0 0.0 0.0 0.0 0.0 31 9.8 -15.0 14.7 21.4 9.3 20.0 -4.8 2.4

6 F12905 hnei e ot lns3+87+5 27150. 87853. 04258. 81294096 934.0 8881.2 93 108 FL313131003Postalsavingssystem deposits 0.0 5283.4 107 FL153030005Timeandsavings deposits 3084.2 106 LM153091003Foreigndeposits 105 FL153020005Currencyandtransferable deposits 0.0 5830.9 104 FL154000005Currencyanddeposits 8867.8 5103.7 0.0 103 FL154090005Financialassets 1277.1 94 -551.9 102 LM165013765Intellectualpropertyproducts 0.0 95 -792.2 1048.4 101 LM165015205Equipment 100 LM155111005Consumerdurablegoods 464.5 7548.8 0.0 99 LM155035005Realestate 4322.0 -157.6 98 LM152010005Nonfinancialassets 1638.1 0.0 386.9 4268.9 97 FL152000005Totalassets 956.2 -0.0 6742.2 3803.9 Balancesheetaccount(endofperiod) 543.5 -372.8 0.9 -93.4 96 FC152090005Changeinnetworth(lines32+38+78+95) 82 -193.8 Changesinbalancesheetaccount -38.2 379.8 95 FR158200095Changesinnetworthduetonominalholdinggains/losses -178.1 94 FR153052045Insurance,pensionandstandardizedguaranteeschemes -153.4 93 FR153094305EquityinvestmentunderPublic-PrivateInv.Program -78.8 92 FR152090205Equityinnoncorporatebusiness 91 FR153064205Mutualfundshares -65.3 90 FR153064105Corporateequities -691.1 89 FR154022005Debtsecurities 88 FR158080095Financialassets 75 1.9 87 FR155111005Consumerdurablegoods 86 FR165013765Intellectualpropertyproducts 77 1.8 85 FR165015205Equipment 1122.6 84 FR155035005Realestate 812.9 -0.3 83 FR152010085Nonfinancialassets 316.3 1.7 Revaluationaccount 996.0 66 4.3 958.1 1.2 82 FU157005045Less:Statisticaldiscrepancy(lines38-77)(5) 715.2 81 FV158090085Othervolumechanges 6.3 3.0 1074.1 80 FV152010005Disasterlosses 1482.2 79 FU155111005Netinvestmentinconsumerdurablegoods 0.6 3.2 78 FV158090185Totalothervolumechanges 64 -0.5 Otherchangesinvolumeaccount 0.2 20.3 13.1 27.5 77 FA155000005Netlending(+)orborrowing(-),financialaccount(lines40-67) Addendum: 12.8 5.6 76 FA163170005Otheraccountspayable(tradedebt) 5.6 9.0 75 FA543077073Insurance,pensionandstandardizedguaranteeschemes 61 60 14.4 11.9 17.9 495.3 74 FA153165005Longterm(mortgages) 10.7 31.6 73 FA153169005Otherloansandadvances 545.1 72 FA153168005Depositoryinstitutionloansn.e.c. 4.6 423.0 71 FA153166000Consumercredit 31.1 70 FA154141005Shortterm 495.3 12.2 69 FA154123005Loans 26.3 405.2 68 FA163162003Debtsecurities(municipals) -4.3 600.3 515.2 67 FA154190005Netincurrenceofliabilities 32.3 649.9 66 FA163070005Otheraccountsreceivable(tradereceivables) -7.7 27.2 65 FA313195105RetireeHealthCareFunds 64 FA153095105Non-lifeinsurancereservesatlifecompanies 63 FA153050005Pensionentitlements(4) 62 FA153040005Lifeinsurancereserves 61 FA153076005Insurancereceivablesduefromproperty-casualtyinsurancecompanies 60 FA153052005Insurance,pensionandstandardizedguaranteeschemes Billions ofdollars S.3.a HouseholdsandNonprofitInstitutionsServing

60. 03. 76. 22. 36. 70. 47. 39. 103 83890.3 84377.8 77203.3 73561.8 72226.9 67768.7 99 60933.7 56500.8 31707.5 98 30044.4 37862.6 27933.3 35949.1 26030.9 33662.4 24257.8 31586.6 22713.5 29642.0 97 20628.5 20064.1 121752.9 27992.6 120326.9 25824.3 25145.5 110865.8 105148.4 101869.0 95761.3 86758.1 81646.3 77773. 34878. 42897. 23892. 107 9623.8 9233.8 9078.2 8402.8 104 10855.3 7882.4 10567.7 10222.0 7324.8 9641.8 7134.2 6787.7 9027.7 100 5519.3 8481.6 8094.6 5302.6 7643.9 5155.3 5006.0 4859.3 4779.6 4727.5 4644.7 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 194558878269-0. 9. 092-6. 91 -668.9 1039.2 293.8 -202.1 246.9 817.8 535.8 84 1468.6 -149.4 83 1421.8 1945.5 1849.7 1688.1 1607.1 1595.3 1528.3 1416.9 1314.7 1973.0 517.9 1877.9 471.5 -577.0 -555.4 9. 1. 14819. 27111. 25019. 105 1191.7 1295.0 102 1117.6 198.7 101 437.1 1207.1 189.4 1099.6 412.6 178.1 1104.8 395.7 910.9 167.1 798.9 382.6 160.8 364.1 153.4 346.1 141.5 326.9 129.4 307.3 92 492.9 804.9 89 -121.2 569.0 68.4 574.9 88 603.6 -29.7 -2214.0 5699.0 901.1 -103.4 2714.9 669.7 212.4 109.8 259.6 -359.7 2954.2 140.4 4864.3 232.7 3332.4 182.6 78 525.6 286.6 17.3 418.7 600.5 1344.3 187.4 802.4 71 181.6 192.3 230.1 235.0 221.0 177.7 158.8 109.6 63 393.7 471.9 324.5 408.8 337.5 524.2 519.3 506.2 6. 43124. 545-. 47323. 16. 90 -1364.9 2738.3 1417.3 -2.0 1504.5 2548.9 1443.1 -67.8 73 74 -24.9 298.8 326.5 60.9 228.7 -10.2 149.7 -76.5 26.6 33.2 14.9 37.5 -63.5 66.3 -62.1 -37.4 744. 214. 192. 893. 106 39.7 38.9 26.3 31.9 45.7 52.1 49.5 57.4 87 -50.0 -97.4 -75.3 -62.5 -100.6 -94.9 -44.2 81 107.2 19.4 79.6 79 266.6 172.5 244.7 31.5 224.7 76 266.7 209.1 13.4 1118.5 180.4 16.0 14.9 147.0 21.4 127.0 8.2 89.8 19.2 26.7 -5.6 70 195.3 7.2 261.1 20.0 230.6 67 65 190.0 507.2 13.9 274.0 606.0 9.6 225.4 464.2 62 49.4 218.5 12.9 352.5 68.1 19.0 322.0 7.4 224.0 41.8 10.4 148.6 47.2 18.2 12.2 49.8 13.3 18.5 20.9 -14.4 85.7 02-. 37-. 39-. 361085 1.0 -3.6 -8.5 -3.9 -2.7 -3.7 -3.8 -0.2 72 38.5 7.9 68 10.6 -2.2 31.5 1.6 19.8 -2.9 10.2 -8.2 -6.7 -4.1 -6.5 -13.7 -14.1 -7.3 ...... 108 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 86 2.2 5.3 2.8 -0.6 1.2 80 -42.0 3.5 -76.0 1.5 0.0 2.3 0.0 0.0 0.0 -20.9 0.0 69 494.1 587.6 459.3 339.8 300.6 240.3 154.9 6.0 Z.1, June11,2020 151

Integrated Accounts Integrated Accounts 3 L4077 Isrne eso n tnadzdgaateshms2. 572. 993. 133. 50139 35.0 33.1 31.3 31.6 29.9 28.7 25.7 25.0 129 254.7 250.5 141 FL152090005Networth 244.2 140 FL163170005Otheraccountspayable(tradedebt) 241.0 122 127 0.0 352.2 240.7 139 FL543077073Insurance,pensionandstandardizedguaranteeschemes 331.8 0.0 213.2 138 FL153165005Longterm(mortgages) 318.8 207.6 137 FL153169005Otherloansandadvances 0.0 136 FL153168005Depositoryinstitutionloansn.e.c. 306.0 198.6 135 FL153166000Consumercredit 300.4 134 FL154141005Shortterm 0.0 124 133 FL154123005Loans 591.9 288.6 277.9 0.0 574.0 132 FL163162003Debtsecurities(municipals) 273.2 542.4 123 28750.2 131 FL154190005Liabilities 0.0 28685.9 511.4 111 27008.6 636.9 130 FL152100005Totalliabilitiesandnetworth 26019.3 1.8 485.1 25611.6 449.5 129 FL163070005Otheraccountsreceivable(tradereceivables) 24699.4 22044.3 5.2 489.4 20998.5 390.1 457.1 128 FL313195105RetireeHealthCareFunds 483.5 464.7 127 FL153095105Non-lifeinsurancereservesatlifecompanies 126 FL153050005Pensionentitlements(4) 291.2 125 FL153040005Lifeinsurancereserves 124 FL153076005Insurancereceivablesduefromproperty-casualtyinsurancecompanies 199.0 123 FL153052005Insurance,pensionandstandardizedguaranteeschemes 317.8 381.9 122 LM153094305EquityinvestmentunderPublic-PrivateInv.Program(3) 121 LM152090205Equityinnoncorporatebusiness 120 FL153034005Moneymarketfundshares 119 LM153064205Mutualfundshares 118 LM153064105Corporateequities 117 FL153081005Equityandinvestmentfundshares 116 FL153065005Longterm(mortgages) 115 FL154041005Shortterm 114 FL154023005Loans 113 LM153063005Corporateandforeignbonds 112 LM153062005Municipalsecurities 111 LM153061705Agency-andGSE-backedsecurities(2) 110 LM153061105Treasurysecurities 109 LM154022005Debtsecurities Billions ofdollars S.3.a HouseholdsandNonprofitInstitutionsServing 152 reflectsdifferencesinsourcedata,timingofrecordedtransactions,andotherstatisticalbetweenthecapitalfinancialaccounts. (5) Thestatisticaldiscrepancyisthedifferencebetweennetlendingorborrowingderivedincapitalaccountandsameconceptfinancialaccount. (4) Includesvariableannuities,includingthoseinIRAs,atlifeinsurancecompanies. (3) FundsinvestedbyfinancialinstitutionssuchasdomestichedgefundsthroughthePublic-PrivateInvestmentProgram(PPIP). theFinancingCorporation,andResolutionFundingtheyincludedStudentLoanMarketingAssociationuntilitwasfullyprivatizedin2004:Q4. (2) Government-sponsoredenterprises(GSEs)consistofFederalHomeLoanBanks,FannieMae,FreddieMac,AgriculturalMortgageCorporation,FarmCreditSystem, theyprimarilycovertheiroperatingcoststhroughsales,andkeepacompletesetoffinancialrecords. (1) Consistsofrentalincometenant-occupiedhousingandproprietors’income.Quasi-corporationsareunincorporatedenterprisesthatfunctionasiftheywerecorporations;

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4 F13945 qiyi oenetsosrdetrrss()030206070507260244 0.2 2.6 0.7 45 -1.4 0.5 4.0 0.7 -3.0 0.6 -10.2 54 FA113165005 Longterm(mortgages) 0.2 12.7 53 FA113169005Otherloansandadvances 52 FA113168005Depositoryinstitution loansn.e.c. -26.2 0.3 51 FA114141005Shortterm 15.7 50 FA114123005Loans -4.6 49 FA114190005Netincurrenceofliabilities 48 FA113093005Other(miscellaneous assets) 47 FA113070003Tradereceivables 46 FA113096005Otheraccountsreceivable 45 FA113076005Insurance,pensionandstandardizedguaranteeschemes(4) 44 FA113092405Equityingovernment-sponsoredenterprises(3) 43 FA113034003Moneymarketfundshares 42 FA113081005Equityandinvestmentfundshares 41 FA113065005Longterm(mortgages) 40 FA113066003Shortterm(consumercredit) 30 39 FA114023005Loans -85.6 -67.9 38 FA113062003Municipalsecurities 37 FA113061003Treasurysecurities -63.9 36 FA114022005Debtsecurities -78.4 35 FA113030003Timeandsavingsdeposits -72.1 34 FA113020005Currencyandtransferabledeposits -64.2 33 FA114000005Currencyanddeposits -15.2 32 FA114090005Netacquisitionoffinancialassets -1.7 31 FA115000905Netlending(+)orborrowing(-)(line30) 15 Financialaccount 0.5 17 26.1 0.3 30 FA115000905Netlending(+)orborrowing(-),capitalaccount(lines21-24) 30.1 0.3 29 FA115020005Changeinprivateinventories 28 FA116300001Less:Consumptionoffixedcapital 21.9 27 FA115012005Residential 0.2 25.1 26 FA115013085Nonresidential 25 FA115019085Grossfixedcapitalformation 0.2 28.5 24 FA115050985Capitalformation,net 9 14 27.5 26.1 0.2 23 FA115440005Less:Capitaltransferspaid(net) 1730.9 22 FA116012005Netsaving 25.9 1648.7 30.1 7 0.2 21 FA116006305Netsavinglesscapitaltransfers 1568.8 21.9 219.0 23.9 1597.7 0.2 Capitalaccount 1605.4 209.2 25.1 1509.6 196.9 1431.9 28.5 1318.5 20 FA116012005Equals:Netsaving 196.3 27.5 186.0 19 FA116012005Equals:Disposableincome,net 170.7 25.9 18 FA116403001Less:Othercurrenttransfers(paid) 171.2 23.9 17 FA116140001Netnationalincome/Balanceofprimaryincomes,net 163.9 16 FA116112001Rentsonlandandnaturalresources 15 FA113192281Reinvestedearningsonforeigndirectinvestment 14 FA116122001Withdrawalsfromincomeofquasi-corporations(2) 13 FA116130001Interest 12 FA116150005Less:Usesofpropertyincome(paid) 11 FA116130101Propertyincome(interestreceived) 10 FA116402105Operatingsurplus,net 9FA116140001Netnationalincome/Balanceofprimaryincomes,net 8FA116402105Operatingsurplus,net 7FA116240101Taxesonproductionandimportslesssubsidies 6FA116401005Employers’socialcontributions 5FA116020001Wagesandsalaries 4FA116025001Compensationofemployees(paid) 3FA116902605Equals:Netvalueadded 2FA116300001Less:Consumptionoffixedcapital 1FA116902505Grossvalueadded Currentaccount Billions ofdollars S.4.a NonfinancialNoncorporateBusiness(1)

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1 M1140 qiyadivsmn udsae drc neteti h .. . . 061. 721. 822. 113 28.3 (5) Farmhousesareincludedinthehouseholdsector. 28.2 (4) Netequityinreservesofproperty-casualtyinsurancecompanies. 19.5 theFinancingCorporation,andResolutionFundingtheyincludedStudentLoanMarketingAssociationuntilitwasfullyprivatizedin2004:Q4. (3) Government-sponsoredenterprises(GSEs)consistofFederalHomeLoanBanks,FannieMae,FreddieMac,AgriculturalMortgageCorporation,FarmCreditSystem, 17.2 theyprimarilycovertheiroperatingcoststhroughsales,andkeepacompletesetoffinancialrecords. (2) Consistsofrentalincometenant-occupiedhousingandproprietors’income.Quasi-corporationsareunincorporatedenterprisesthatfunctionasiftheywerecorporations; 14.2 (1) Estimatesfor2000andearlierperiodsarebasedonthe1987StandardIndustrialClassificationSystem;laterestimatesNorthAmericanSystem. 10.6 118 LM112090205Networth 7.9 117 FL113193003Other(miscellaneousliabilities) 116 FL113178003Taxespayable 7.1 115 FL113170005Tradepayables 114 FL113196005Otheraccountspayable 113 LM115114005Equityandinvestmentfundshares(directintheU.S.) 112 FL113165005Longterm(mortgages) 111 FL113169005Otherloansandadvances 110 FL113168005Depositoryinstitutionloansn.e.c. 109 FL114141005Shortterm 108 FL114123005Loans 107 FL114190005Liabilities 106 FL112100005Totalliabilitiesandnetworth Billions ofdollars S.4.a NonfinancialNoncorporateBusiness(1)

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Integrated Accounts Integrated Accounts 4 F13915 neteti iac opn usdais1. . 411. . 1. 252554 53 2.5 0.1 12.5 0.3 -13.1 0.1 48 2.2 -147.8 0.1 43 249.1 46 15.8 -5.5 -24.8 0.1 198.2 14.1 -50.2 10.0 255.4 0.0 3.9 26.8 416.4 1.3 0.0 12.6 353.9 13.7 37 -1.3 278.6 -0.0 238.0 27.5 383.0 0.6 -16.2 -1.6 35 154.1 0.3 876.9 -5.3 49.4 34 549.0 -1.3 1.7 54 FA103094105Investmentinfinance companysubsidiaries 55.7 116.8 951.1 53 FA103092405Equityingovernment-sponsored enterprises(2) -2.2 52 FA103092005U.S.directinvestment abroad 42.1 -113.8 1137.1 51 FA103064203Mutualfundshares 50 FA103064103Corporateequities 31 673.6 74.0 39.8 49 FA103034000Moneymarketfund shares -1.1 48 FA103081005Equityandinvestment fundshares 707.9 11.7 95.5 307.2 0.4 47 FA103065003Longterm(mortgages) 115.1 46 FA104041005Shortterm(securityreposandconsumercredit) 368.6 30 45 FA104035005Loans 236.6 6.9 1575.2 33 44 FA103062003Municipalsecurities 206.9 55.7 1495.6 43 FA103061703Agency-andGSE-backedsecurities(2) 29.3 42 FA103061103Treasurysecurities 342.1 1433.3 -113.8 41 FA103069100Openmarketpaper 1.6 1405.9 40 FA104022005Debtsecurities 74.0 1349.2 39 FA103091003Foreigndeposits 1.4 1279.7 11.7 38 FA103030003Timeandsavingsdeposits 37 FA103020000Currencyandtransferabledeposits 1230.6 0.2 36 FA104000005Currencyanddeposits 115.1 1169.3 35 FA104090005Netacquisitionoffinancialassets 236.6 -1.0 206.9 34 FA105000905Netlending(+)orborrowing(-)(line33) 342.1 Financialaccount 21 155.6 18 33 FA105000905Netlending(+)orborrowing(-),capitalaccount(lines25-28) 123.4 232.5 20 32 FA105020005Changeinprivateinventories 768.1 31 FA105420095Acquisitionofnonproducednonfinancialassets 89.9 17 262.9 30 FA106300003Less:Consumptionoffixedcapital 817.2 15 795.7 29 FA105019085producednonfinancialassets) 283.4 76.2 1465.2 Grossfixedcapitalformation(acquisitionof 792.5 13 760.7 290.9 28 FA105050985Capitalformation,net 1356.1 69.6 620.5 793.1 14 908.5 263.6 27 FA105440005Less:Capitaltransferspaid(net) 1350.4 -168.3 111.2 78.9 26 FA106012005Netsaving 766.0 959.8 1294.8 245.7 25 FA106006385Netsavinglesscapitaltransfers 308.1 102.4 1222.4 700.5 989.7 71.7 209.3 9 Capitalaccount 7 1136.8 283.1 124.9 632.5 903.3 74.6 768.1 1154.9 876.4 271.1 4 102.9 624.8 886.5 1066.3 24 FA106012005Equals:Netsaving 69.4 795.7 835.0 6007.6 286.4 535.8 100.6 23 FA106012005Equals:Disposableincome,net 760.7 5698.5 2 799.8 289.2 106.9 22 FA106403001Less:Othercurrenttransfers(paid) 5426.6 1575.2 908.5 262.0 784.1 94.8 21 FA106220001Less:Currenttaxesonincome,wealth,etc.(paid) 5290.1 1495.6 20 FA106140005Netnationalincome/Balanceofprimaryincomes,net 959.8 277.7 767.6 5026.2 1433.3 19 FA106112001Rent 989.7 742.0 4768.1 18 FA103192201Reinvestedearningsonforeigndirectinvestment 1405.9 903.3 4608.3 17 FA106121001Distributedincomeofcorporations(dividends) 695.1 1349.2 16 FA106130001Interest 4372.7 886.5 670.8 1279.7 15 FA106150005Less:Usesofpropertyincome(paid) 14 FA103092201ReinvestedearningsonU.S.directinvestmentabroad 1230.6 13 FA106121101Distributedincomeofcorporations(dividends) 1169.3 12 FA106130101Interest 11 FA106150105Propertyincome(received) 10 FA106402101Operatingsurplus,net 9FA106140005Netnationalincome/Balanceofprimaryincomes,net 8FA106402101Operatingsurplus,net 7FA106240101Taxesonproductionandimportslesssubsidies 6FA106401001Employers’socialcontributions 5FA106020001Wagesandsalaries 4FA106025005Compensationofemployees(paid) 3FA106902605Equals:Netvalueadded 2FA106300003Less:Consumptionoffixedcapital 1FA106902501Grossvalueadded Currentaccount Billions ofdollars S.5.a NonfinancialCorporateBusiness(1) 156

Z.1, June11,2020 31014. 66515. 73215. 87420. 29 2004.5 1857.4 1751.7 1783.2 1753.8 1606.5 1542.8 1391.0 10 1603.9 8 1578.2 1603.9 1578.2 5 1578.2 1658.9 5042.4 1643.8 1578.2 3 1584.3 4780.9 1658.9 8487.9 1525.1 1643.8 4555.9 8111.7 1402.4 1584.3 4428.3 1 7804.6 1525.1 4197.2 10063.1 7733.2 1402.4 3968.6 9607.3 7437.6 3839.2 9238.0 7094.4 3630.6 9139.0 6828.5 8786.9 6446.0 8374.1 8059.1 7615.3 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 0. 1. 9. 1. 6. 5. 8. 6. 52 -68.9 282.3 259.9 264.1 317.3 296.9 317.9 400.1 28 479.3 26 390.0 25 529.1 535.0 351.9 467.7 276.2 519.2 428.6 480.5 24 425.9 527.7 529.1 411.3 23 530.9 588.9 529.1 467.7 386.0 595.6 642.2 262.1 467.7 428.6 647.9 575.9 527.7 428.6 592.9 597.8 588.9 604.3 527.7 642.2 588.9 16 504.5 575.9 642.2 456.3 597.8 575.9 12 11 177.2 465.0 597.8 629.3 440.7 154.2 573.6 420.1 147.4 532.9 6 410.7 148.2 544.3 965.3 432.7 149.0 538.4 917.5 438.9 152.4 542.2 870.7 164.2 533.1 861.8 177.9 550.3 829.0 799.5 769.1 742.1 1. 58252. 22-. . 9851 -9.8 7.6 49 -33.4 -3.3 35.6 12.2 -112.5 24.0 19.0 2.5 40 21.9 19.1 -5.8 30.6 39 38 28.8 -110.3 5.8 -13.8 -10.9 119.0 -4.1 -39.3 -7.7 3.7 3.7 17.5 -19.0 25.7 10.9 -9.3 -3.9 -87.6 68.6 -15.8 39.2 1.1 -13.3 13.7 -11.5 -39.9 34-65993. 4. 72-92-8350 -38.3 -89.2 67.2 -42.2 37.3 9.9 -26.5 23.4 36 133.6 95.1 175.3 41.3 19.9 32 51.1 149.8 54.6 27.9 44.1 26.6 112.6 74.3 83.1 73.5 41.5 22 83.3 95.5 19 20.0 69.2 17.4 97.3 16.1 80.0 18.3 83.9 22.9 81.8 21.9 79.3 22.7 22.2 06-. . . 35-28242047 2.0 44 2.4 1.7 42 -22.8 -15.6 -2.5 23.5 30.1 -2.7 1.9 4.2 1.0 1.6 -3.8 -1.6 -1.9 1.6 -0.2 -0.6 1.7 -0.2 -2.8 -3.4 -7.8 27 -5.9 191.5 2.6 -3.2 -6.7 -5.7 -17.0 -6.4 . 72-. 943. . 4. 2. 45 -22.8 -47.8 41 4.1 38.4 -8.8 37.2 29.4 -6.9 -0.1 7.8 -7.2 25.1 1.1 -5.7 -11.5 0.1

0 C0008 Cag nntwrh(ie 83+09)()551-657-912-95610. 17. 30. 116100 3131.6 -3500.8 -1277.5 97 1609.7 -482.4 98 -1935.6 810.7 186.0 106 LM105020015 Inventories -3971.2 105 LM105013765 Intellectualpropertyproducts -1635.7 99 299.1 -270.1 104 LM105015205Equipment 575.1 1006.1 103 LM105035005Realestate -142.3 -173.9 -2754.9 102 LM102010005Nonfinancialassets (6) 237.9 43.6 -1620.6 101 FL102000005Totalassets 762.0 731.5 -152.9 Balancesheet account(endofperiod) -2317.4 165.0 84 -326.1 -3541.7 -51.5 -180.0 -180.6 -1166.6 100 FC102090085Changeinnetworth(lines28+33+80+99)(5) -306.7 -0.2 -48.9 Changesinbalancesheetaccount -0.9 83 258.1 99 FR108200005Changesinnetworthduetonominalholdinggains/losses 53.1 -181.0 98 FR103152025Insurance,pensionandstandardizedguaranteeschemes 2.1 97 FR103192005ForeigndirectinvestmentintheUnitedStates -115.0 96 FR103164103Corporateequity 95 FR104190085Liabilities 2.5 14.4 94 FR103092005Directinvestmentabroad -11.4 333.7 93 FR103064203Mutualfundshares 92 FR103064103Corporateequities -68.0 106.0 91 FR104022005Debtsecurities 90 FR108080095Financialassets 553.3 79 89 FR105020015Inventories 287.4 -202.4 88 FR105013765Intellectualpropertyproducts 87 FR105015205Equipment 67.2 86 FR105035005Realestate 85 FR102010005Nonfinancialassets 189.0 Revaluationaccount 72 9.2 66 71 69 -64.8 70.0 231.6 -298.0 -218.6 84 FU105020601Less:Inventoryvaluationadjustment -60.1 248.9 83 FU107005045Less:Statisticaldiscrepancy(lines33-79)(4) -47.6 -72.0 130.6 82 FV108090085Othervolumechanges 64.8 409.1 81 FV102010005Disasterlosses 4.1 -167.7 -346.4 80 FV108090105Totalothervolumechanges 54.7 413.3 -136.3 74.6 Otherchangesinvolumeaccount 101.6 -209.0 185.4 39.3 97.8 -165.2 187.7 79 FA105000005Netlending(+)orborrowing(-),financialaccount(lines35-59) -155.1 123.4 52.7 Addendum: 189.8 -255.2 59 -1.4 199.4 99.8 78 FA103193005Miscellaneousliabilities 1079.2 77 FA103178005Taxespayable -1.3 481.8 76 FA103170005Tradepayables 145.0 75 FA103196005Otheraccountspayable 762.2 74 FA573073005Claimofpensionfundonsponsor 1127.9 73 FA573074005Pensionfundcontributionspayable 892.2 72 FA103152025Insurance,pensionandstandardizedguaranteeschemes 55 11.5 577.3 71 FA103192005ForeigndirectinvestmentintheUnitedStates 70 FA103164103Corporateequities 653.6 13.9 69 FA103181005Equityandinvestmentfundshares 313.9 68 FA103165005Longterm(mortgages) 6.6 67 FA103169005Otherloansandadvances 66 FA103168005Depositoryinstitutionloansn.e.c. 65 FA104141005Shortterm 2.3 64 FA104123005Loans 10.2 63 FA103163003Corporatebonds 62 FA103162000Municipalsecurities 61 FA103169100Openmarketpaper -5.9 60 FA104122005Debtsecurities 7.8 59 FA104194005Netincurrenceofliabilitiesandequity 12.2 58 FA103093005Other(miscellaneousassets) 57 FA103070005Tradereceivables 56 FA103096005Otheraccountsreceivable 55 FA103076005Insurance,pensionandstandardizedguaranteeschemes(3) Billions ofdollars S.5.a NonfinancialCorporateBusiness(1)

56. 62. 80. 92. 08. 18. 28. 36. 102 23467.7 22688.3 101 42599.9 21287.3 40686.5 20382.6 38372.8 19221.3 36358.6 18102.8 34078.9 16521.4 15668.5 32118.5 29496.6 28191.3 00829. 14023. 28721. 43024. 106 2547.8 105 2732.9 104 2423.0 5104.0 2600.0 2316.5 4872.4 2435.3 103 2248.7 13083.1 4694.2 2304.9 2233.5 12792.9 4594.5 2230.7 11841.3 2174.0 4486.1 11234.6 2129.4 2099.3 10271.1 4322.6 2011.4 2000.8 9476.7 4191.5 1931.4 8219.1 4014.1 7722.1 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 526220603-0. 3973. 3. 11. 94 -1111.8 933.9 33.2 90 -1254.7 -379.7 1297.6 -306.8 191.6 660.3 -398.4 292.0 -138.4 -542.6 992.9 437.2 -543.6 70 -529.6 -320.8 -576.8 -549.6 -394.5 -352.9 -344.9 -454.6 58 487.0 49.0 372.4 763.8 64.4 -54.0 -66.1 -145.2 0. 04454. 787-8. 25442. 10. 96 95 -1706.2 -2002.6 4520.5 5061.1 2235.4 2392.2 -281.7 -412.1 2748.7 2833.7 5344.1 86 5749.5 2094.4 156.5 85 2079.4 402.7 258.3 221.9 867.5 1008.6 524.2 580.0 849.2 748.4 654.7 82 654.7 1181.1 1802.5 1214.9 420.4 80 -1232.4 475.6 1590.5 -198.8 336.2 458.7 -1022.1 372.3 -82.8 122.1 78 316.7 868.5 -957.1 -213.8 -513.3 -24.6 75 -1077.4 497.0 1178.7 -1062.1 399.5 277.6 267.9 607.4 575.7 451.2 610.6 156.3 612.0 398.0 246.9 65 214.6 64 74.3 467.5 123.1 251.6 100.1 25.4 63 16.4 154.8 2.6 60 281.1 95.4 140.3 165.4 268.1 160.8 320.5 123.9 403.5 90.3 286.8 77.3 289.3 119.2 413.5 -11.0 279.4 204.6 326.1 116.7 327.4 294.9 160.5 353.5 202.1 8. 102-29-697. 1. 7. 8868 48.8 -74.7 -13.8 70.0 -36.9 -12.9 -130.2 -87.9 56 883.3 209.9 571.1 797.1 171.9 214.2 -10.8 -58.5 101. . 1. 4. 022. 2189 88 22.1 31.1 87 29.7 80.8 48.5 40.2 44.5 30.7 -44.3 5.3 -29.0 -12.7 -61.8 26.0 6.0 -13.3 51.3 13.5 -23.5 22.5 19.3 31.0 31.8 59.8 77 -10.6 76 211.1 320.7 -8.1 81.3 -21.2 184.2 12.2 24.3 148.5 -9.9 67 4.2 100.5 1.4 68.1 147.7 13.3 23.7 12.3 61 -10.2 -6.1 25.9 63.0 1.8 37.6 57 19.5 -3.0 396.4 59.6 37.5 160.9 14.2 198.8 14.0 33.3 33.4 107.5 268.2 55.3 86.7 591. 8186-. 333. 2. 93 -22.2 37.3 92 -118.8 13.3 326.0 -6.5 145.9 8.6 -11.7 156.5 28.1 308.8 19.2 125.8 -5.9 -0.1 74 -77.0 -79.2 56.0 59.5 42.2 125.8 10.9 -4.2 . . 4333-. 0805-. 91 -1.9 0.5 -0.8 -0.6 3.3 -4.3 81 0.2 -5.5 5.0 -19.7 0.0 0.0 0.0 0.0 73 -6.9 12.2 0.0 19.2 8.8 15.2 -2.9 -2.5 62 -4.3 -12.3 13.5 3.0 16.9 13.0 -0.8 1.2 12.1 8.2 Z.1, June11,2020 157

Integrated Accounts Integrated Accounts 4 L7040 Pninfn otiuin aal 388. 907. 13101193115148 149 131.5 465.3 119.3 294.6 100.1 582.3 91.3 609.0 76.1 504.1 147 141 592.0 79.0 596.7 988.8 146 377.9 6302.2 81.4 413.9 918.8 144 6552.9 497.9 32968.5 93.8 682.4 966.4 5493.4 35455.1 30195.8 4785.2 700.3 962.3 27828.9 4545.7 28420.9 580.2 859.0 154 FL102090085Networth 25643.4 4122.4 19732.9 671.0 761.3 3203.2 153 FL103193005Miscellaneousliabilities 17628.6 152 FL103178005Taxespayable 2848.3 459.3 708.7 151 FL103170005Tradepayables 591.7 627.5 150 FL103196005Otheraccountspayable 133 149 FL573073005Claimofpensionfundonsponsor 42599.9 148 FL573074005Pensionfundcontributionspayable 40686.5 127 147 FL103152025Insurance,pensionandstandardizedguaranteeschemes 1.2 38372.8 36358.6 146 LM103192005ForeigndirectinvestmentintheUnitedStates 128 34078.9 145 LM103164103Corporateequity 113.2 1.2 32118.5 144 FL103181005Equityandinvestmentfundshares 29496.6 126 110.7 28191.3 5503.4 143 FL103165005Longterm(mortgages) 0.9 142 FL103169005Otherloansandadvances 6684.0 98.2 141 FL103168005Depositoryinstitutionloansn.e.c. 129 5467.9 0.8 377.1 140 FL104141005Shortterm 111.3 139 FL104123005Loans 5174.9 122 365.6 108.8 0.7 5290.4 8146.0 138 FL103163003Corporatebonds 351.7 137 FL103162000Municipalsecurities 5279.9 9546.6 93.0 136 FL103169100Openmarketpaper 0.6 115 4322.7 8000.4 345.1 135 FL104122005Debtsecurities 18.1 78.9 3712.8 7609.9 342.8 0.6 134 FL104194005Liabilities 75.0 23.8 7751.9 332.6 133 FL102100085Totalliabilitiesandnetworth 7477.2 0.5 13.7 338.5 6126.1 132 FL103093005Other(miscellaneousassets) 5410.5 131 FL103070005Tradereceivables 330.8 12.5 130 FL103096005Otheraccountsreceivable 109 1189.7 13.9 129 FL103076005Insurance,pensionandstandardizedguaranteeschemes(3) 951.7 12.9 128 FL103094105Investmentinfinancecompanysubsidiaries 967.9 127 FL103092405Equityingovernment-sponsoredenterprises(2) 13.1 126 LM103092005U.S.directinvestmentabroad 813.8 125 LM103064203Mutualfundshares 124 LM103064103Corporateequities 14.3 764.4 123 FL103034000Moneymarketfundshares 122 FL103081005Equityandinvestmentfundshares 647.7 121 FL103065003Longterm(mortgages) 605.6 120 FL103066005Consumercredit 565.8 119 FL102051003Securityrepurchases 118 FL104041005Shortterm 117 FL104035005Loans 116 LM103062003Municipalsecurities 115 LM103061703Agency-andGSE-backedsecurities(2) 114 LM103061103Treasurysecurities 113 FL103069100Openmarketpaper 112 LM104022005Debtsecurities 111 FL103091003Foreigndeposits 110 FL103030003Timeandsavingsdeposits 109 FL103020000Currencyandtransferabledeposits 108 FL104000005Currencyanddeposits 107 FL104090005Financialassets Billions ofdollars S.5.a NonfinancialCorporateBusiness(1) 158 (6) Excludesnonproducednonfinancialassets. (5) Includeschangesinthemarketvalueofsharesandotherequitythatareexcludedfromrelated measuresforthenonfinancialcorporatebusinesssectorinFinancialAccountsofUnitedStates. reflectsdifferencesinsourcedata,timingofrecordedtransactions,andotherstatistical betweenthecapitalandfinancialaccounts. (4) Thestatisticaldiscrepancyisthedifferencebetweennetlendingorborrowingderivedin capitalaccountandthesameconceptderivedinfinancialaccount.Thediscrepancy (3) Netequityinreservesofproperty-casualtyinsurancecompanies. theFinancingCorporation,andResolutionFundingtheyincludedStudent LoanMarketingAssociationuntilitwasfullyprivatizedin2004:Q4. (2) Government-sponsoredenterprises(GSEs)consistofFederalHomeLoanBanks,FannieMae, FreddieMac,FederalAgriculturalMortgageCorporation,FarmCreditSystem, (1) Estimatesfor2000andearlierperiodsarebasedonthe1987StandardIndustrialClassification System;laterestimatesarebasedontheNorthAmericanClassificationSystem.

Z.1, June11,2020 48. 62. 12. 37. 34. 40. 80. 66. 145 26666.3 28902.1 24702.4 23043.8 23875.2 21521.0 16529.8 14780.3 134 52992.9 54211.2 48396.7 45104.9 44435.0 40538.9 33945.8 31004.8 107 19132.2 17998.3 17085.6 15976.0 14857.7 14015.7 12975.2 12522.8 21. 44. 82. 1360-763-02. 1547-09. 154 -10393.1 -13524.7 -10023.9 -8746.3 -10356.0 -8420.4 -4449.2 -2813.5 57551. 12553. 32369. 81772. 153 7027.1 151 6841.7 2690.4 150 9984.1 6794.0 2369.7 9488.5 6312.3 2288.3 5730.6 9148.5 2104.1 5132.5 8490.6 2079.8 5112.7 7905.8 1931.2 4547.5 7146.9 1830.7 7036.5 1762.6 142 6401.8 1725.8 140 1387.6 2714.7 139 3145.0 1102.1 2306.4 138 2695.4 1089.9 5539.5 2068.5 1125.9 2532.2 5384.7 2052.1 135 1062.9 2534.1 6298.6 1984.9 5103.6 1036.7 2390.6 1824.2 6158.3 4835.5 1006.9 2266.3 1745.4 4432.0 5837.8 2200.4 1634.4 4142.6 5551.0 2219.5 132 3863.2 5274.7 5137.5 131 3509.6 130 3535.8 4811.4 3276.0 8784.3 3113.2 4516.6 4160.9 6389.2 4163.1 2952.3 3821.7 7113.2 2753.5 2678.6 6575.2 2720.2 2307.4 5398.8 2612.7 3021.8 4920.1 2344.5 3379.9 5366.3 2289.2 5669.1 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 8. 5. 4. 0. 8. 6. 8. 3. 143 430.3 389.0 463.7 482.0 137 562.6 136 405.7 196.5 566.9 442.1 206.7 553.4 455.0 180.8 536.5 585.2 179.0 523.5 182.0 524.3 144.5 523.1 130.3 511.0 116.3 125 270.9 123 303.0 466.1 124 1791.2 258.1 499.5 1948.3 248.2 463.9 1711.5 242.4 576.4 1498.3 209.8 557.4 1552.3 179.3 1358.5 535.5 1039.8 165.9 113 504.9 162.1 940.6 112 253.2 515.8 123.7 236.0 110 187.2 132.5 206.7 139.4 181.3 211.6 108 131.6 189.0 1483.1 208.4 106.5 171.6 1349.6 179.4 112.1 1254.5 160.7 187.6 123.6 1079.2 248.2 203.2 1038.0 209.1 1018.1 195.4 868.3 813.7 179. 329. 426. 7. 6. 152 266.7 277.2 66.1 74.2 95.4 83.2 93.1 91.7 121 34.2 120 39.6 119 14.6 32.2 118 39.4 54.2 39.6 117 29.8 116 88.4 38.9 18.5 79.0 90.3 114 52.6 54.4 111.2 37.8 17.2 129.2 64.6 29.0 159.0 38.3 71.3 102.4 19.3 50.4 27.1 155.0 88.7 38.6 41.2 111 22.3 106.3 22.6 117.7 25.5 61.2 44.6 37.4 21.2 216.6 88.3 18.3 27.4 62.8 45.2 41.7 97.6 21.2 88.4 22.9 68.1 38.8 22.9 95.5 93.9 39.4 22.3 112.9 43.0 122.2 53.6 52.5

1 F73945 qiyi oenetsosrdetrrss()-. 20-...... 51 0.8 1.4 55 47 118.7 -73.7 1.9 261.8 27.9 0.7 404.5 215.6 290.3 0.3 353.9 41 269.0 246.6 -1.1 -0.2 490.7 172.1 298.0 -2.0 254.3 534.5 359.3 -6.2 340.5 90.3 56 FA793096005 Otheraccountsreceivable 16.8 55 FA793052005Insurance,pension andstandardizedguaranteeschemes 93.0 54 FA793094005Investmentinsubsidiaries 35 440.5 53 FA713164003StockinFederalReserve Banks 34 1783.8 52 FA793092005U.S.directinvestment abroad 198.8 -52.9 51 FA793092405Equityingovernment-sponsored enterprises(3) 2912.7 34.5 50 FA793034005Moneymarketfund shares -165.9 49 FA793064205Mutualfundshares 2315.1 29 48 FA793064105Corporateequities 1414.7 32 16.9 -19.4 47 FA793081005Equityandinvestmentfundshares 2603.8 236.5 -68.6 46 FA793065005Longterm(mortgages) 2976.4 102.7 27 222.7 45 FA794041005Shortterm 2222.5 -10.4 44 FA794035005Loans -3.7 31 1.8 2068.4 210.7 -24.4 285.7 43 FA793063005Corporateandforeignbonds 33 199.5 -123.5 0.0 42 FA793062005Municipalsecurities 107.7 265.1 41 FA793061705Agency-andGSE-backedsecurities(3) -52.9 190.3 27.6 181.3 40 FA793061105Treasurysecurities 10.0 257.8 25 39 FA793069175Openmarketpaper 181.8 -165.9 -27.7 13.2 38 FA794022005Debtsecurities 240.4 24 0.0 172.5 -19.4 17.9 21 39.5 37 FA794000005Currencyanddeposits 218.7 -20.8 165.2 0.0 -68.6 9.6 203.0 -3.2 36 FA713011203Monetarygold 17.7 29.4 -10.4 193.2 -32.4 0.0 35 FA794090005Netacquisitionoffinancialassets 128.4 -24.4 -27.7 74.4 23 168.1 184.2 34 FA795000905Netlending(+)orborrowing(-)(line33) 64.1 107.7 27.9 0.0 27.5 Financialaccount 181.3 20 -3.2 86.9 15.3 0.0 22 22.9 17 19 116.9 138.0 33 FA795000905Netlending(+)orborrowing(-),capitalaccount(lines27-30) -14.8 951.2 114.7 0.0 70.2 17.5 151.8 83.8 -18.3 32 FA796300081Less:Consumptionoffixedcapital 113.2 929.6 31 FA795013005Grossfixedcapitalformation(nonresidential) 0.0 68.8 15.2 116.4 29.8 30 FA795015085Capitalformation,net 218.5 827.9 15 14 99.2 13.3 2901.0 0.0 47.1 29 FA795440005Less:Capitaltransferspaid(net) 113.0 838.6 -29.4 13 28 FA796012005Netsaving 89.2 2712.3 159.6 15.6 810.1 27 FA796006385Netsavinglesscapitaltransfers 14.0 611.4 0.0 52.6 2464.3 81.1 807.2 71.8 7 Capitalaccount 15.9 22.9 503.6 2423.9 48.3 680.7 86.1 208.9 2314.1 9 4 17.0 54.2 467.8 558.9 2265.3 26 FA796012005Equals:Netsaving 51.9 253.3 116.9 816.8 70.7 463.6 15.2 2225.9 70.7 25 FA796012005Equals:Disposableincome,net 51.4 2 2124.2 450.3 83.8 786.5 56.7 75.5 236.5 24 FA796403005Less:Othercurrenttransfers(paid) 59.1 414.3 734.1 23 FA796220001Less:Currenttaxesonincome,wealth,etc.(paid) 218.5 68.2 22 FA796140005Netnationalincome/Balanceofprimaryincomes,net 222.7 359.2 55.2 715.7 113.0 63.3 319.0 21 FA796112001Rentsonlandandnaturalresources 210.7 681.1 64.8 159.6 20 FA793192281Reinvestedearningsonforeigndirectinvestment 57.2 199.5 19 FA796122001Withdrawalsfromincomeofquasi-corporations(2) 641.3 81.1 18 FA796121001Dividends 190.3 630.1 56.6 17 FA796120005Distributedincomeofcorporations 208.9 16 FA796130001Interest 181.8 606.5 15 FA796150005Less:Usesofpropertyincome(paid) 54.9 253.3 14 FA793092281ReinvestedearningsonU.S.directinvestmentabroad 172.5 13 FA796121101Distributedincomeofcorporations(dividends) 165.2 12 FA796130101Interest 11 FA796150105Propertyincome(received) 10 FA796402101Operatingsurplus,net 9FA796140005Netnationalincome/Balanceofprimaryincomes,net 8FA796402101Operatingsurplus,net 7FA796240101Taxesonproductionandimportslesssubsidies 6FA796401001Employers’socialcontributions 5FA796020001Wagesandsalaries 4FA796025005Compensationofemployees(paid) 3FA796902605Equals:Netvalueadded 2FA796300081Less:Consumptionoffixedcapital 1FA796902505Grossvalueadded Currentaccount Billions ofdollars S.6.a FinancialBusiness(1)

50112. 42118. 51912. 75212. 16 1926.9 1765.2 12 1621.2 11 1917.6 1571.9 2499.6 1774.8 1488.4 2331.0 1442.1 1693.8 2209.9 1528.1 1601.6 2117.0 1550.1 1590.0 2091.7 1583.0 2056.4 1679.1 2093.6 1761.5 2145.3 1 1657.6 1545.0 1493.4 1403.2 1316.7 1170.4 1200.3 1058.8 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 132-988. 9. 8. 0. 8. 8. 46 580.9 584.2 501.6 382.3 190.4 89.5 -69.8 -173.2 2. 1988. 6. 1983. 1. 7. 56 -76.8 54 116.2 64.4 37.0 -75.0 -109.8 261.5 314.2 83.8 129.0 175.9 -149.8 45 123.6 47.4 605.4 44 506.4 1186.3 770.8 104.2 1355.1 432.4 40 934.0 441.1 760.3 823.4 596.8 154.0 787.2 38 -53.8 37 1091.3 35.6 770.0 -462.0 522.0 860.3 347.5 452.2 291.4 318.3 1183.0 613.4 145.1 -459.0 592.4 541.6 -535.4 875.0 411.1 164.5 1410.0 954.0 784.2 1104.4 847.5 -16.7 502.7 28 13.2 -20.8 29.4 26 13.2 -27.7 -20.8 27.9 -3.2 29.4 -27.7 138.0 151.8 27.9 -3.2 18 881.0 138.0 151.8 860.8 780.8 824.6 10 787.2 518.3 8 753.0 465.1 518.3 610.0 472.9 5 502.1 465.1 419.8 693.2 472.9 382.0 668.8 3 419.8 290.0 625.5 1421.2 382.0 341.2 611.2 1322.3 290.0 232.2 582.1 1282.6 341.2 1203.7 545.4 232.2 1126.4 536.8 988.5 513.2 1027.8 893.6 3. 1. 2. 59-39-22-21-9349 -59.3 -32.1 -82.2 -13.9 42 -48.6 43 25.9 39 372.6 8.1 46.9 128.9 309.1 -17.9 95.8 29.2 130.5 -37.3 47.8 -87.2 170.4 206.2 7.7 9.8 443.8 -26.9 -45.3 373.0 116.5 11.0 -31.2 -33.2 5.0 -76.7 522. 513. 545. 960452 0.4 39.6 48 50.0 -99.9 15.4 80.5 30.3 -169.7 25.1 235.3 -4.4 20.5 15.2 -26.4 42.4 19.7 6 123.7 117.8 108.7 104.5 99.0 95.9 93.3 93.2 56-53-. 74-341041. 8950 18.9 12.6 100.4 -13.4 17.4 -2.8 -15.3 -5.6 ...... 53 0.9 0.9 1.0 0.9 1.1 0.1 0.5 0.4 36 0.0 0.0 0.0 0.0 0.0 0.0 30 0.0 49.2 0.0 42.4 47.0 40.9 28.4 21.2 20.7 2.9 Z.1, June11,2020 159

Integrated Accounts Integrated Accounts 0 M9036 Itleta rprypout 3. 5. 6. 6. 7. 9. 0. 2. 105 226.8 207.9 191.0 176.2 166.3 160.3 151.1 139.8 100 498.4 -724.1 -511.2 108 FL794000005 Currencyanddeposits -99.9 95 107 FL713011203 Monetarygold -211.2 -195.3 106 FL794090005Financialassets -1587.2 99 98 149.2 -101.4 190.6 105 LM795013765Intellectualproperty products -568.6 503.2 104 LM795013265Equipment 69.7 -563.1 1077.5 103 LM795013665Structures(nonresidential) 102 LM795013865Nonfinancialassets (5) -34.2 -763.7 476.5 -336.9 56.8 101 FL792000095Totalassets -163.8 -4.9 398.7 Balancesheetaccount(endofperiod) 81.5 91 387.8 989.6 -1684.9 40.6 -530.0 100 FC792090095Changeinnetworth(lines30+33+78+99) 562.3 -704.2 460.6 14.3 -98.7 Changesinbalancesheetaccount -282.9 147.2 99 FR798200005Changesinnetworthduetonominalholdinggains/losses -298.8 -791.5 98 FR583152005Insurance,pensionandstandardizedguaranteeschemes 81 97 FR793194005Investmentbyparent -441.2 -284.2 96 FR662090003Equityinnoncorporatebusiness 36.9 95 FR793192005ForeigndirectinvestmentintheUnitedStates -399.9 94 FR653164205Mutualfundshares 93 FR793164105Corporateequityissues -33.0 92 FR794190085Liabilities -237.7 91 FR593052025Insurance,pension,andstandardizedguaranteeschemes 60.2 90 FR793092005U.S.directinvestmentabroad 89 FR793064205Mutualfundshares -161.4 88 FR793064105Corporateequities 87 FR794022005Debtsecurities 145.9 86 FR794090085Financialassets 77 223.2 70 231.3 85 FR795013765Intellectualpropertyproducts 71 1.1 84 FR795013265Equipment 234.0 33.9 83 FR795013665Structures(nonresidential) 82 FR795013865Nonfinancialassets 75 4.2 13.5 40.4 556.5 Revaluationaccount 169.1 66 2.7 621.2 74.7 412.4 -70.6 81 FU797005045Less:Statisticaldiscrepancy(lines33-77)(4) 504.1 66.3 1.3 80 FV798090085Othervolumechanges 137.0 840.2 79 FV795013865Disasterlosses 499.7 -38.2 24.7 78 FV798090185Totalothervolumechanges 751.3 1.2 431.4 -41.9 Otherchangesinvolumeaccount 532.1 29.1 586.1 0.5 60 814.2 20.8 570.6 246.9 77 FA795000005Netlending(+)orborrowing(-),financialaccount(lines35-57) 706.1 -1.8 697.4 Addendum: 42.8 346.9 1171.2 -5.9 76 FA793196005Otheraccountspayable 362.8 351.7 75 FA583152005Insurance,pensionandstandardizedguaranteeschemes 220.4 74 FA713164003StockinFederalReserveBanks 150.3 73 FA793194005Investmentbyparent 238.3 72 FA662090003Equityinnoncorporatebusiness 71 FA793192005ForeigndirectinvestmentintheUnitedStates -23.8 70 FA403192405Equityingovernment-sponsoredenterprises(3) 69 FA653164205Mutualfundshares -22.1 68 FA793164105Corporateequityissues 67 FA634090005Moneymarketfundshares 66 FA793181005Equityandinvestmentfundshares 65 FA123165005Longterm(mortgages) 64 FA794141005Shortterm 63 FA794135005Loans 62 FA793169175Commercialpaper 61 FA793163005Corporatebonds 60 FA423161705Agency-andGSE-backedsecurities(3) 59 FA794122005Debtsecurities 58 FA794100005Currencyanddeposits 57 FA794190005Netincurrenceofliabilities Billions ofdollars S.6.a FinancialBusiness(1) 160

Z.1, June11,2020 42. 80. 40. 80. 87. 25. 96. 87. 106 98571.7 99266.9 92557.0 88876.4 88703.7 84608.1 78500.4 74120.3 101 100602.9 101197.8 94414.1 90672.3 90444.0 86296.9 80139.3 75723.9 70923. 51138. 10728. 94621. 108 2512.1 2974.6 2682.5 3130.7 3682.7 3521.1 102 2738.2 2031.1 2750.9 1930.9 1857.1 1795.9 1740.3 1688.9 1638.9 1603.6 58 494.3 792.8 57 459.9 1552.5 237.1 2678.7 938.9 2301.6 1245.7 1786.2 2674.4 595.4 2839.5 1448.9 2260.7 2110.4 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 29313. 626561-5. 8. 950-15994 93 -1165.9 90 -981.3 -195.9 1965.0 92 1261.9 -2911.1 160.9 89 689.6 766.9 4453.6 -410.4 -352.3 9.8 -217.5 2002.7 88 776.7 506.1 641.0 -767.9 -1899.8 -160.7 1622.6 346.3 1257.1 1602.6 3405.9 86 25.1 1035.5 711.2 3950.8 -124.2 -2773.7 -289.3 1185.5 2349.6 49.0 225.5 -444.5 3857.5 -466.8 -816.4 694.0 981.8 1225.0 78.2 -1119.2 429.7 3271.4 -167.9 1574.7 1527.1 -122.3 2237.2 -533.2 1803.1 78 -397.1 311.5 -37.5 224.9 264.7 76 -224.2 -271.0 101.0 33.5 300.2 -141.5 145.0 -185.2 67 193.6 189.9 -61.2 117.2 -191.6 -184.2 -11.1 -6.7 61 15.7 74.8 40.2 59 34.5 355.6 2.2 37.0 344.6 -112.6 -32.7 389.5 39.2 147.2 -128.4 121.8 -31.3 28.7 -231.0 -134.3 -352.8 8. 0. 2. 5. 8. 0. 2. 5. 104 653.4 627.5 103 1151.0 607.0 1095.5 581.1 1059.2 552.6 1038.6 523.8 1021.4 1004.8 501.9 985.9 482.3 981.5 87 -655.4 218.2 -33.8 -514.8 641.2 -985.7 209.3 389.4 69 -63.3 68 198.4 318.4 418.9 64 28.8 63 20.5 4.7 255.5 98.9 228.1 40.8 311.5 46.4 249.4 346.9 50.9 211.5 52.0 386.6 10.8 197.5 200.8 14.9 151.9 165.3 174.6 -226.3 -206.4 244.6 249.5 124.8 138.2 9. 7. 8. 6. 4. . 3. 3962 33.9 -36.8 0.8 -40.5 -67.7 -81.2 -79.2 -99.7 101. 101. 101. 101. 107 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 83 82 51.5 53.2 33.1 33.0 17.7 14.1 19.4 14.4 80 23.6 29.7 23.0 30.3 -435.6 28.6 15.5 191.9 16.5 34.6 27.0 41.3 -164.0 -60.4 448.1 81.7 73 41.9 -60.7 65 382.3 -15.8 138.1 5.6 206.3 74.8 1.0 555.0 4.0 87.2 9.3 19.9 4.8 13.5 181. . . . 73109572 9.5 1.0 17.3 5.3 4.3 2.9 10.4 -1.8 . 0100000000000097 96 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 85 0.0 84 -0.0 1.7 -0.1 0.0 0.7 1.8 -0.7 0.0 -0.2 -3.5 -1.1 79 -3.9 -2.4 -1.3 0.7 -1.8 -0.1 -1.5 0.0 -1.6 2.6 0.1 0.0 6.6 0.0 74 0.9 0.0 0.9 -2.0 0.0 1.0 0.9 1.1 0.1 0.5 0.4

4 L1140 Soki eea eev ak 692. 752. 953. 143. 146 32.3 144 78.2 31.4 68.7 30.4 67.7 29.5 142 52.2 28.6 50.4 45.1 27.5 143 51.1 1101.7 40.8 27.4 1263.1 46.9 26.9 37.9 1073.5 147 44.2 30498.6 929.1 27.4 30389.9 42.9 138 897.0 32648.1 28607.4 815.5 27525.0 41.7 34578.1 27119.2 30408.8 704.8 26168.9 149 FL792090095Networth 41.2 28172.0 23494.5 28355.4 643.3 22369.4 132 148 FL793196005Otheraccountspayable 26337.3 43.1 9090.0 22675.8 19691.4 147 FL583152005Insurance,pensionandstandardizedguaranteeschemes 8843.0 146 FL713164003StockinFederalReserveBanks 8496.1 124 145 FL793194005Investmentbyparent 8144.4 32.3 144 LM662090003Equityinnoncorporatebusiness 7924.0 143 LM793192005ForeigndirectinvestmentintheUnitedStates 128 7773.7 31.4 142 FL403192405Equityingovernment-sponsoredenterprises(3) 100602.9 101197.8 141 LM653164205Mutualfundshares 123 7535.4 94414.1 949.3 140 LM793164105Corporateequityissues 30.4 7559.2 90672.3 139 FL634090005Moneymarketfundshares 90444.0 122 138 FL793181005Equityandinvestmentfundshares 1144.7 86296.9 29.5 38.5 80139.3 944.3 137 FL123165005Longterm(mortgages) 75723.9 28.6 136 FL794141005Shortterm 37.7 884.4 135 FL794135005Loans 27.5 1029.7 126 36.3 134 FL793169175Commercialpaper 8545.0 974.3 133 FL793163005Corporatebonds 27.4 7917.7 34.4 132 FL423161705Agency-andGSE-backedsecurities(3) 900.2 131 FL794122005Debtsecurities 26.9 8276.3 801.6 33.7 118 114 8070.4 30237.7 130 FL794100005Currencyanddeposits 7913.3 7562.9 33.4 32817.4 8020.6 129 FL794194005Liabilities 7472.6 28493.1 33.5 26776.5 7561.8 6674.7 128 FL792100005Totalliabilitiesandnetworth 27285.9 7302.1 112 6820.3 25807.0 35.5 6858.5 21626.3 127 FL793096005Otheraccountsreceivable 7476.5 19030.7 7131.4 6938.4 126 FL793052005Insurance,pensionandstandardizedguaranteeschemes 7101.4 6672.4 6485.0 125 FL793094005Investmentinsubsidiaries 6386.7 124 FL713164003StockinFederalReserveBanks 6476.4 123 LM793092005U.S.directinvestmentabroad 122 FL793092405Equityingovernment-sponsoredenterprises(3) 6202.4 121 FL793034005Moneymarketfundshares 5984.5 120 LM793064205Mutualfundshares 5628.5 119 LM793064105Corporateequities 118 FL793081005Equityandinvestmentfundshares 117 FL793065005Longterm(mortgages) 116 FL794041005Shortterm 115 FL794035005Loans 114 FL793063005Corporateandforeignbonds 113 FL793062005Municipalsecurities 112 FL793061705Agency-andGSE-backedsecurities(3) 111 FL793061105Treasurysecurities 110 FL793069175Openmarketpaper 109 FL794022005Debtsecurities Billions ofdollars S.6.a FinancialBusiness(1) (5) Excludesland.Includescorporateandnoncorporatefinancialbusiness. reflectsdifferencesinsourcedata,timingofrecordedtransactions,andotherstatistical betweenthecapitalandfinancialaccounts. (4) Thestatisticaldiscrepancyisthedifferencebetweennetlendingorborrowingderivedin capitalaccountandthesameconceptderivedinfinancialaccount.Thediscrepancy theFinancingCorporation,andResolutionFundingtheyincludedStudent LoanMarketingAssociationuntilitwasfullyprivatizedin2004:Q4. (3) Government-sponsoredenterprises(GSEs)consistofFederalHomeLoanBanks,FannieMae, FreddieMac,FederalAgriculturalMortgageCorporation,FarmCreditSystem, theyprimarilycovertheiroperatingcoststhroughsales,andkeepacompletesetoffinancial records. (2) Consistsofrentalincometenant-occupiedhousingandproprietors’income.Quasi-corporations areunincorporatedenterprisesthatfunctionasiftheywerecorporations; Estimatesfor2000andearlierperiodsarebasedonthe1987StandardIndustrialClassification System;laterestimatesarebasedontheNorthAmericanClassificationSystem. (1) Financialbusinessincludesdepositoryinstitutions,insurancecompanies,pensionfunds,monetary authority,andotherfinancialinstitutions.

39. 38. 35. 35. 36. 33. 34. 48. 131 14281.8 130 13941.4 18688.4 13633.2 18194.1 13266.6 129 13352.8 17401.2 102373.4 13258.5 16941.3 103466.7 13285.7 16704.2 95958.9 13497.4 15765.3 91705.8 13979.2 91377.7 13411.7 87019.4 79274.6 74757.9 119 18792.5 20792.3 117 17305.9 14919.4 16290.0 115 14365.5 16521.5 26834.0 15544.0 13808.2 12299.1 25671.0 13342.7 10729.6 12970.1 24262.1 12818.2 23364.2 12820.4 22724.3 13036.1 21975.7 22043.1 109 21727.4 26292.3 25882.4 24810.3 23654.7 23601.5 22085.3 21704.1 19936.7 14897874298585590815. 280148 1248.0 1359.4 950.8 895.5 145 958.5 4422.8 784.2 4380.8 927.8 4488.6 140 4147.0 1124.8 139 9252.7 4120.3 3038.3 141 14669.8 10035.6 3914.0 2848.4 15899.0 8354.8 3845.0 136 2731.3 13615.6 7332.3 3264.1 4782.2 135 12897.2 2742.4 7321.8 5008.5 13150.6 4761.7 2749.1 12333.0 6431.4 5003.8 10363.5 133 2733.4 4721.0 4962.8 8941.4 4760.7 4957.4 2693.2 4670.0 4054.1 4905.5 4701.1 2691.0 4656.3 4887.7 4491.0 4703.1 4705.2 4717.2 4688.9 4911.6 4473.7 4955.0 4663.3 4943.3 5127.7 127 5236.4 4139.6 3992.6 125 4021.5 4328.0 3868.9 4263.6 3835.4 3735.4 4385.6 120 3703.0 4112.1 5562.1 3843.3 4094.8 6031.8 3918.9 5287.2 3877.3 5023.1 3345.0 116 5161.1 11914.6 4909.8 11305.6 113 4086.8 1976.9 10453.9 3675.0 10021.5 111 2093.6 9754.2 8902.5 9157.5 2016.4 8197.4 9222.8 2022.8 8021.6 8691.2 1977.4 7318.2 1875.8 7057.4 1981.4 6217.8 1833.8 5990.6 5348.2 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 6. 6. 725-3. 13. 14. 26. 17. 149 -1770.5 -2268.9 -1544.8 -1033.6 -933.7 -722.5 864.7 966.0 137 226.2 242.0 134 431.2 236.5 235.4 397.2 231.4 434.0 214.3 433.2 194.4 473.7 189.5 541.4 622.6 701.8 121 535.0 516.1 503.4 403.0 416.5 399.1 401.9 110 417.2 641.1 632.4 538.1 624.8 613.7 657.9 646.3 641.2 Z.1, June11,2020 161

Integrated Accounts Integrated Accounts 8 F73603 qiysae soki eea eev ak)040501110910090948 0.9 50 0.9 -3.2 -0.0 1.0 0.0 0.9 -18.5 1.1 1.1 0.1 0.2 41 0.5 -136.2 0.3 10.8 0.4 0.4 -22.5 5.1 35 34 236.1 50 FA715000005Netlending(+)orborrowing (-),financialaccount(lines35-45) -389.8 -2.6 Addendum: 563.2 -2.6 32 73.7 -2.3 -31.1 49 FA713193005Otheraccountspayable 0.8 48 FA713164003Equityshares(stock inFederalReserveBanks) -197.9 -11.4 0.6 47 FA712151003Loans 0.8 475.6 46 FA714100005Currencyanddeposits -17.2 31 1108.0 0.8 10.5 45 FA714190005Netincurrenceofliabilities 0.8 5.8 493.6 0.8 27 44 FA713096105Otheraccountsreceivable 0.7 -0.6 43 FA713064103Equityshares -2.6 0.8 -17.5 33 42 FA714041005Loans(shortterm) 0.6 -2.4 -2.6 0.0 41 FA713061705Agency-andGSE-backedsecurities(2) 0.8 0.6 0.5 40 FA713061103Treasurysecurities -2.3 39 FA713069603Openmarketpaper 0.8 0.6 -17.4 0.6 24 38 FA714022005Debtsecurities 2.0 0.8 5.6 0.5 37 FA714000005Currencyanddeposits -17.2 36 FA713011203Monetarygold 2.0 -0.9 5.8 0.7 21 35 FA714090005Netacquisitionoffinancialassets -17.6 2.0 -0.6 23 0.5 0.0 -0.3 34 FA715000995Netlending(+)orborrowing(-)(line33) 0.0 -17.5 1.9 0.0 0.0 Financialaccount 0.0 1.9 0.0 20 22 0.0 0.0 1.8 33 FA715000995Netlending(+)orborrowing(-),capitalaccount(lines27-30) -0.6 17 0.0 19 0.0 66.3 0.0 1.6 0.0 32 FA716330085Less:Consumptionoffixedcapital -0.3 0.0 31 FA715013085Grossfixedcapitalformation(nonresidential) 81.3 0.0 0.0 1.4 2.5 0.0 30 FA715015085Capitalformation,net 15 13 0.0 92.2 0.0 123.8 14 0.0 0.0 -15.5 29 FA715440083Less:Capitaltransferspaid(net) 0.0 118.8 0.0 125.0 28 FA716012005Netsaving 0.0 6 7.5 0.0 0.0 0.0 98.6 27 FA716006385Netsavinglesscapitaltransfers 112.6 0.0 0.3 0.0 0.0 130.2 0.9 81.3 0.0 4 Capitalaccount 0.0 0.0 0.0 109.5 7 0.3 0.0 90.1 2.8 -16.0 89.9 0.0 0.0 0.0 0.0 9 1.1 0.3 2 77.0 26 FA716012005Equals:Netsaving 0.0 2.7 96.8 -0.6 0.0 0.0 0.0 0.0 0.8 0.3 25 FA716012005Equals:Disposableincome,net 83.3 0.0 2.5 -0.3 0.0 0.0 0.0 0.8 24 FA716403001Less:Othercurrenttransfers(paid) 0.3 0.0 2.3 2.5 23 FA716220001Less:Currenttaxesonincome,wealth,etc.(paid) 0.0 0.0 0.8 22 FA716140005Netnationalincome/Balanceofprimaryincomes,net 0.3 0.0 2.3 -15.5 0.0 0.0 0.8 21 FA716112001Rentsonlandandnaturalresources 7.5 0.2 0.0 2.2 20 FA713192281Reinvestedearningsonforeigndirectinvestment 0.0 19 FA716122001Withdrawalsfromincomeofquasi-corporations(1) 0.8 0.9 0.2 2.0 18 FA716121001Dividends 0.0 17 FA716120005Distributedincomeofcorporations 0.8 -16.0 16 FA716130001Interest 2.0 1.1 15 FA716150005Less:Usesofpropertyincome(paid) 0.0 0.8 14 FA713092281ReinvestedearningsonU.S.directinvestmentabroad 13 FA716121101Distributedincomeofcorporations(dividends) 0.8 12 FA716130101Interest 11 FA716150105Propertyincome(received) 10 FA716402101Operatingsurplus,net 9FA716140005Netnationalincome/Balanceofprimaryincomes,net 8FA716402101Operatingsurplus,net 7FA716240101Taxesonproductionandimportslesssubsidies 6FA716401001Employers’socialcontributions 5FA716020001Wagesandsalaries 4FA716025005Compensationofemployees(paid) 3FA716902605Equals:Netvalueadded 2FA716330085Less:Consumptionoffixedcapital 1FA716902505Grossvalueadded Currentaccount Billions ofdollars S.61.a CentralBank 162

Z.1, June11,2020 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 8. 20901232-9. 4. 5. 18746 45 -128.7 -386.6 157.7 -2.6 -45.6 -197.9 -31.1 283.2 7.1 900.1 -2.0 474.5 40 1107.8 -243.3 480.2 10.2 -21.7 38 -13.3 493.1 -379.5 -15.6 -10.9 236.8 -35.8 550.2 -10.4 58.9 472.9 1113.4 642.0 132.6 444.0 2. . 12-. . . 001149 1.1 -0.0 0.6 43 1.5 0.0 -3.7 0.0 -1.2 0.0 4.5 0.0 -27.6 0.0 0.0 0.0 -26.4 02732871392261. 113-5. 47 44 -259.9 -3.0 -161.3 12.8 0.9 42 202.6 -7.9 0.1 193.9 6.6 208.7 -2.3 7.3 4.5 0.0 40.2 -0.6 3.2 1.2 -2.0 -9.1 42.7 -121.0 32.2 18 66.3 81.3 92.2 118.8 98.6 12 11 112.3 81.3 112.3 113.6 90.1 113.6 111.1 111.1 77.0 113.6 113.6 115.9 115.9 90.5 90.5 80.9 80.9 84.5 84.5 03-. 03-. 02-. 01-. 30 -0.0 -0.1 28 -2.6 -0.1 -2.4 -0.2 0.5 -0.2 26 -17.4 -0.3 -2.6 25 5.6 -0.1 -2.4 -2.6 -0.9 -0.3 0.5 -2.4 -17.6 0.5 -17.4 -0.3 5.6 -17.4 5.6 -0.9 -17.6 -0.9 -0.3 -17.6 -0.3 10 10.9 8 11.0 10.9 4.1 11.0 1.0 4.1 1.1 1.0 0.3 1.1 -0.2 0.3 -0.1 -0.2 -0.1 ...... 39 0.0 37 0.0 36 0.5 0.0 0.0 0.8 0.0 0.0 0.1 0.0 0.0 1.9 0.0 0.0 1.4 0.0 0.0 0.4 0.0 0.0 0.9 0.0 1.1 29 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16 57.4 43.6 20.5 11.3 11.0 5 8.6 2.5 6.7 3 2.4 6.3 13.7 2.2 13.7 1 6.6 2.1 14.5 3.4 2.0 14.5 7.4 3.3 1.9 4.1 2.5 1.8 4.1 1.8 1.8 3.2 2.0 2.6 2.8

1 F73603 qiysae soki eea eev ak)2. 742. 862. 043. 2381 32.3 31.4 30.4 29.5 77 4106.6 28.6 4582.3 4571.2 27.5 4642.2 4721.3 27.4 4018.4 3178.0 26.9 2955.6 73 1644.6 83 FL712090095Networth 1815.3 1804.9 1845.4 82 FL713193005Otheraccountspayable 1863.0 81 FL713164003Equityshares(stockinFederalReserveBanks) 1557.8 80 FL712151003Loans 1079.0 79 FL714100005Currencyanddeposits 941.7 78 FL714190005Liabilities 77 FL712100005Totalliabilitiesandnetworth 76 FL713096105Otheraccountsreceivable 75 FL713064103Equityshares 74 FL714041005Loans(shortterm) 61 73 LM713061705Agency-andGSE-backedsecurities(2) -89.1 72 LM713061103Treasurysecurities 13.7 71 FL713069603Openmarketpaper 59 70 LM714022005Debtsecurities -39.9 -86.3 -86.2 69 FL714000005Currencyanddeposits 13.6 68 FL713011203Monetarygold 228.4 -39.9 -267.5 67 FL714090005Financialassets -67.6 212.2 60 227.3 0.5 66 LM715013765Intellectualpropertyproducts -85.9 -267.6 65 LM715013265Equipment -5.6 64 LM715013665Structures(nonresidential) 13.8 63 LM712010095Nonfinancialassets(4) 54 -39.8 0.0 0.6 62 FL712000095Totalassets -67.4 227.5 -2.3 Balancesheetaccount(endofperiod) -267.4 0.6 -5.5 61 FC712090095Changeinnetworth(lines30+33+51+60) 0.3 1.3 Changesinbalancesheetaccount 4.7 -0.8 60 FR718200005Changesinnetworthduetonominalholdinggains/losses -17.8 59 FR714022005Financialassets(debtsecurities) -0.4 58 FR715013765Intellectualpropertyproducts 57 FR715013265Equipment 56 FR715013665Structures(nonresidential) 55 FR712010095Nonfinancialassets Revaluationaccount 54 FU717005045Less:Statisticaldiscrepancy(lines33-50)(3) 53 FV718090085Othervolumechanges 52 FV712010095Disasterlosses 51 FV718090185Totalothervolumechanges Otherchangesinvolumeaccount Billions ofdollars S.61.a CentralBank (4) Excludesland. reflectsdifferencesinsourcedata,timingofrecordedtransactions,andotherstatistical betweenthecapitalandfinancialaccounts. (3) Thestatisticaldiscrepancyisthedifferencebetweennetlendingorborrowingderivedin capitalaccountandthesameconceptderivedinfinancialaccount.Thediscrepancy theFinancingCorporation,andResolutionFundingtheyincludedStudent LoanMarketingAssociationuntilitwasfullyprivatizedin2004:Q4. (2) Government-sponsoredenterprises(GSEs)consistofFederalHomeLoanBanks,FannieMae, FreddieMac,FederalAgriculturalMortgageCorporation,FarmCreditSystem, theyprimarilycovertheiroperatingcoststhroughsales,andkeepacompletesetoffinancial records. (1) Consistsofrentalincometenant-occupiedhousingandproprietors’income.Quasi-corporations areunincorporatedenterprisesthatfunctionasiftheywerecorporations;

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Integrated Accounts Integrated Accounts 5 F73405 nuac,pninadsadrie urne cee ...... 55 3.9 52 49 0.5 5.4 6.4 1.4 12.7 5.6 -8.4 2.0 6.6 -8.4 -0.9 5.7 3.1 -0.0 43 5.8 52.4 -2.9 -1.1 39 -0.2 7.4 168.1 -14.6 -2.1 144.4 -0.3 5.2 -10.7 38 -5.4 140.5 -393.1 -0.4 5.7 56 FA703093005 Otheraccountsreceivable 194.8 35 -0.5 -211.0 55 FA763040005Insurance,pension andstandardizedguaranteeschemes 61.6 417.5 -387.6 -1.5 34 866.7 54 FA713164003StockinFederalReserve Banks 49.5 148.9 93.1 53 FA763092000U.S.directinvestment abroad 731.9 -3.2 52 FA703092405Equityingovernment-sponsored enterprises(2) 730.9 133.6 138.1 51 FA703064205Mutualfundshares 32 521.7 -69.7 1.2 50 FA703064105Corporateequities 41.1 94.5 49 FA703081005Equityandinvestment fundshares 949.0 578.4 38.4 -1.8 76.6 969.2 48 FA703065005Longterm(mortgages) 31 47 FA704041005Shortterm 472.6 36.3 76.7 47.3 46 FA704035005Loans 796.5 34.3 107.0 45 FA703063005Corporateandforeignbonds 43.3 33 44 FA703062005Municipalsecurities 84.8 33.4 43 FA703061705Agency-andGSE-backedsecurities(2) 40.6 93.1 42 FA703061105Treasurysecurities 100.9 33.5 41 FA703069175Openmarketpaper 36.5 138.1 40 FA704022005Debtsecurities 94.5 33.0 29.0 39 FA403197033DepositsatFederalHomeLoanBanks 38 FA713113003ReservesattheFederalReserve 76.6 32.2 28.1 21 37 FA703025005Vaultcash 0.0 36 FA704000005Currencyanddeposits 76.7 30.5 35 FA704090005Netacquisitionoffinancialassets 0.0 107.0 23 27.9 13.8 34 FA705000995Netlending(+)orborrowing(-)(line33) 20 84.8 0.0 6.5 Financialaccount 19.9 100.9 19 17 0.0 0.1 4.9 35.0 164.3 33 FA705000995Netlending(+)orborrowing(-),capitalaccount(lines27-30) 22 0.0 0.1 121.5 36.0 4.4 13 121.9 32 FA706300081Less:Consumptionoffixedcapital 15 2.7 102.7 31 FA705013081Grossfixedcapitalformation(nonresidential) 181.1 37.4 0.0 463.8 0.1 4.3 30 FA705015085Capitalformation,net 104.4 141.8 2.1 352.2 24.8 14 0.0 29 FA705440083Less:Capitaltransferspaid(net) 0.1 5.7 89.9 122.1 299.0 -7.2 28 FA706012005Netsaving 2.0 29.5 27 FA706006385Netsavinglesscapitaltransfers 116.4 0.0 84.0 276.0 0.1 5.9 12.2 22.4 7 Capitalaccount 132.7 3.0 241.5 96.2 0.1 12.5 5.7 12.5 117.3 233.4 2.7 77.9 2 4 26 FA706012005Equals:Netsaving 13.5 123.8 266.0 0.2 11.9 9 4.3 41.1 206.8 2.4 25 FA706012005Equals:Disposableincome,net 268.7 13.6 121.9 11.3 0.1 183.1 38.4 24 FA706403001Less:Othercurrenttransfers(paid) 181.1 18.9 2.2 11.0 181.8 23 FA706220001Less:Currenttaxesonincome,wealth,etc.(paid) 141.8 36.3 22 FA706140005Netnationalincome/Balanceofprimaryincomes,net 17.6 180.3 10.8 2.1 122.1 34.3 21 FA706112001Rentsonlandandnaturalresources 169.6 20.9 20 FA703192281Reinvestedearningsonforeigndirectinvestment 10.1 116.4 33.4 19 FA706122001Withdrawalsfromincomeofquasi-corporations(1) 170.8 132.7 18 FA706121001Dividends 9.2 167.5 17 FA706120005Distributedincomeofcorporations 33.5 117.3 16 FA706130001Interest 158.8 9.2 15 FA706150005Less:Usesofpropertyincome(paid) 33.0 123.8 14 FA703092281ReinvestedearningsonU.S.directinvestmentabroad 13 FA706121101Distributedincomeofcorporations(dividends) 32.2 12 FA706130101Interest 11 FA706150105Propertyincome(received) 10 FA706402101Operatingsurplus,net 9FA706140005Netnationalincome/Balanceofprimaryincomes,net 8FA706402101Operatingsurplus,net 7FA706240101Taxesonproductionandimportslesssubsidies 6FA706401001Employers’socialcontributions 5FA706020001Wagesandsalaries 4FA706025005Compensationofemployees(paid) 3FA706902605Equals:Netvalueadded 2FA706300081Less:Consumptionoffixedcapital 1FA706902505Grossvalueadded Currentaccount Billions ofdollars S.62.a PrivateDepositoryInstitutions 164

Z.1, June11,2020 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 1581. 7819925227526010748 170.7 216.0 297.5 255.2 149.9 -7.8 18.4 -105.8 4. 7. 4. 4. 4. 9. 0. 0. 47 46 605.5 776.2 306.8 522.8 293.2 590.7 447.8 40 703.0 446.4 97.7 596.3 144.2 133.7 136.4 374.0 293.6 392.3 242.0 36 203.0 136.2 -388.4 181.5 195.7 91.8 -209.7 183.9 -389.6 149.5 137.9 730.3 -61.5 584.6 16 293.0 225.8 12 191.9 11 349.1 344.6 167.3 302.0 316.3 145.9 271.3 285.8 143.5 258.5 275.0 164.1 5 247.6 263.9 186.5 175.6 3 260.3 281.6 155.6 460.4 291.5 311.3 155.1 412.0 318.8 1 341.8 153.9 348.1 501.5 144.7 314.4 450.4 145.9 274.4 384.4 143.1 265.4 348.7 134.3 248.7 307.8 218.7 298.9 281.7 250.9 5. 3. . 29726. 47-7256 -77.2 -4.7 60.0 7.2 12.9 7.9 -35.0 -56.8 42 124.3 -37.3 121.9 37.9 192.4 -27.6 87.6 -46.7 686. 473. 534. 04-1144 -41.1 20.4 47.2 45.3 32.7 54.7 68.4 46.8 28 27 99.3 99.3 152.8 143.0 98.8 98.8 26 78.8 99.3 25 78.8 72.3 99.3 152.8 72.3 98.8 101.6 152.8 101.6 82.3 98.8 78.8 82.3 96.3 78.8 72.3 96.6 72.3 101.6 18 164.2 82.3 101.6 121.4 82.3 96.3 102.6 96.3 104.3 10 89.8 241.1 83.9 8 6 217.0 241.1 96.0 31.2 155.0 217.0 123.1 77.8 27.5 155.0 94.0 26.7 123.1 84.5 26.4 94.0 72.0 24.9 84.5 50.7 24.9 72.0 24.4 50.7 24.5 62-. . . 93-. 227053 7.0 51 -5.5 12.2 -2.5 0.2 -9.3 -1.9 2.2 -1.0 0.4 -0.8 -0.8 -1.6 -0.9 -6.2 -0.4 30 29 6.2 0.0 4.9 9.8 4.3 0.0 2.2 0.0 -4.4 0.0 -5.3 0.0 -2.5 0.0 -4.3 -0.3 ...... 54 0.9 0.9 50 1.0 2.5 0.9 -2.0 1.1 -6.9 2.0 0.1 45 41 0.7 -38.2 0.5 0.2 -17.5 -1.5 0.4 -0.0 -19.9 37 -10.5 0.0 4.9 -20.7 0.9 -49.3 0.0 1.2 3.1 0.0 1.8 -21.5 0.0 -1.5 4.3 2.1 0.0 2.5 0.0 7.1 8.1 24 8.8 8.4 8.0 7.3 6.7 6.3 5.5 5.1

0 M0030 oprt n oeg od 0. 9. 7. 3. 9. 8. 7. 1. 105 611.8 670.8 99 682.5 7.6 695.7 733.8 7.8 103 779.5 2445.5 8.1 797.1 2422.6 98 2253.0 800.2 1556.0 8.5 2127.8 1949.0 2031.1 1754.2 9.1 1970.8 1965.2 1961.0 2352.8 10.6 1851.7 2203.9 13.7 1473.0 1542.7 12.6 105 LM703063005 Corporateandforeignbonds 89 104 LM703062005Municipalsecurities 99.6 103 LM703061705Agency-andGSE-backed securities(2) 102 LM703061105Treasurysecurities -193.8 101 FL703069175Openmarketpaper 100 LM704022005Debtsecurities -281.7 4.0 99 FL403197033DepositsatFederal HomeLoanBanks 86 98 FL713113003ReservesattheFederal Reserve -37.3 97 FL703025005Vaultcash -85.7 96 FL704000005Currencyanddeposits 40.6 -304.5 95 FL704090005Financialassets 88 -328.7 8.9 161.2 72.6 94 LM705013765Intellectualpropertyproducts 93 LM705013265Equipment -142.3 -22.2 92 LM705013665Structures(nonresidential) -223.0 91 LM702010095Nonfinancialassets(4) -19.8 -75.4 90 FL702000095Totalassets 56.2 -12.9 Balancesheetaccount(endofperiod) 50.9 -281.2 -150.7 33.4 89 FC702090095Changeinnetworth(lines30+33+71+88) 94.7 Changesinbalancesheetaccount 74 234.4 88 FR708200005Changesinnetworthduetonominalholdinggains/losses 39.0 87 FR703194005Investmentbyparent 139.0 86 FR753192003ForeigndirectinvestmentintheUnitedStates 85 FR763164103Corporateequityissues 47.6 84 FR703181105Liabilities 180.0 83 FR763092000U.S.directinvestmentabroad 67 82 FR703064205Mutualfundshares -10.1 81 FR703064105Corporateequities 6.5 80 FR704022005Debtsecurities 182.8 65 79 FR704090085Financialassets 7.7 49.5 212.6 70 78 FR705013765Intellectualpropertyproducts 17.3 -141.3 77 FR705013265Equipment 9.2 76 FR705013665Structures(nonresidential) 99.1 181.1 75 FR702010095Nonfinancialassets 0.4 -44.4 48.3 Revaluationaccount 3.7 29.0 192.4 74 FU707005045Less:Statisticaldiscrepancy(lines33-70)(3) -103.4 87.6 8.8 73 FV708090085Othervolumechanges 117.0 72 FV702010095Disasterlosses 110.9 71 FV708090185Totalothervolumechanges -2.3 -97.9 76.6 Otherchangesinvolumeaccount -111.7 26.0 70 FA705000005Netlending(+)orborrowing(-),financialaccount(lines35-57) Addendum: 69 FA703196005Otheraccountspayable 68 FA703194005Investmentbyparent 67 FA753192003ForeigndirectinvestmentintheUnitedStates 66 FA763164103Corporateequityissues 65 FA703181105Equityandinvestmentfundshares 64 FA704141005Loans(shortterm) 63 FA703169175Commercialpaper 62 FA763163005Corporatebonds 61 FA704122005Debtsecurities 60 FA703130205Otherdeposits 59 FA703127005Checkabledeposits 58 FA704100005Currencyanddeposits 57 FA704190005Netincurrenceofliabilities Billions ofdollars S.62.a PrivateDepositoryInstitutions

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Integrated Accounts Integrated Accounts 2 M5120 oeg ietivsmn nteUie tts266253302341224305389381128 318.1 126 348.9 4026.2 4259.4 300.5 3930.3 282.4 3534.5 304.1 3513.4 3257.1 320.2 2901.4 255.3 2529.2 206.6 114 32.3 131 FL702090095Networth 117 31.4 130 FL703196005Otheraccountspayable 19636.1 113 19252.7 252.8 30.4 18367.1 129 FL703194005Investmentbyparent 17657.8 293.6 128 LM753192003ForeigndirectinvestmentintheUnitedStates 17188.4 29.5 112 127 LM763164103Corporateequityissues 16157.8 239.5 33.1 126 FL703181105Equityandinvestmentfundshares 15342.1 28.6 244.0 14860.0 109 32.6 115 125 FL704141005Loans(shortterm) 481.9 172.1 280.5 27.5 552.3 31.3 124 FL703169175Commercialpaper 168.2 317.2 123 FL763163005Corporatebonds 27.4 463.1 29.2 122 FL704122005Debtsecurities 161.8 282.3 26.9 455.3 156.2 259.9 121 FL703130205Otherdeposits 30.2 505.1 120 FL703127005Checkabledeposits 149.6 119 FL704100005Currencyanddeposits 30.2 532.0 143.8 118 FL704194005Liabilities 31.3 460.5 138.1 117 FL702100005Totalliabilitiesandnetworth 431.1 33.4 125.5 116 FL703093005Otheraccountsreceivable 115 FL763040005Insurance,pensionandstandardizedguaranteeschemes 114 FL713164003StockinFederalReserveBanks 113 LM763092000U.S.directinvestmentabroad 112 FL703092405Equityingovernment-sponsoredenterprises(2) 111 LM703064205Mutualfundshares 110 LM703064105Corporateequities 109 FL703081005Equityandinvestmentfundshares 108 FL703065005Longterm(mortgages) 107 FL704041005Shortterm 106 FL704035005Loans Billions ofdollars S.62.a PrivateDepositoryInstitutions 166 (4) Excludesland. reflectsdifferencesinsourcedata,timingofrecordedtransactions,andotherstatisticalbetweenthecapitalfinancialaccounts. (3) Thestatisticaldiscrepancyisthedifferencebetweennetlendingorborrowingderivedincapitalaccountandsameconceptfinancialaccount. theFinancingCorporation,andResolutionFundingtheyincludedStudentLoanMarketingAssociationuntilitwasfullyprivatizedin2004:Q4. (2) Government-sponsoredenterprises(GSEs)consistofFederalHomeLoanBanks,FannieMae,FreddieMac,AgriculturalMortgageCorporation,FarmCreditSystem, theyprimarilycovertheiroperatingcoststhroughsales,andkeepacompletesetoffinancialrecords. (1) Consistsofrentalincometenant-occupiedhousingandproprietors’income.Quasi-corporationsareunincorporatedenterprisesthatfunctionasiftheywerecorporations;

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5 F63953 urnyaddpst fnigareet)-. 04-. . . . 203155 3.1 12.0 6.8 50 2.9 0.5 8.1 52 0.4 46 79.2 -8.6 -103.5 84.9 -0.4 0.4 -58.6 -6.4 55.2 0.5 -92.2 3.3 30.8 0.1 1.8 40 -42.3 0.9 21.8 -26.7 27.9 56 FA524141005 Loans(shortterm) 0.1 7.3 12.3 30.3 55 FA673090543 Currencyanddeposits(fundingagreements) -0.8 35.9 6.8 15.7 54 FA524190005Netincurrenceofliabilities -8.6 35 53 FA523096005Otheraccountsreceivable 34 242.3 -13.2 43.0 52 FA523052005Insurance,pension andstandardizedguaranteeschemes 196.0 -12.7 51 FA523092005U.S.directinvestment abroad -28.3 -25.1 225.3 50 FA523092405Equityingovernment-sponsored enterprises(2) 32 237.8 49 FA523034005Moneymarketfund shares 0.6 36.6 38.4 48 FA523064205Mutualfundshares 175.3 40.4 47 FA523064105Corporateequities 122.7 46 FA523081005Equityandinvestmentfundshares 35.9 51.0 31 123.4 45 FA523065005Longterm(mortgages) 33.9 45.0 242.2 28.6 44 FA524041005Shortterm 33 43 FA524035005Loans 32.1 29.4 41.0 43.0 42 FA523063005Corporateandforeignbonds 31.0 7.0 39.0 41 FA523062005Municipalsecurities -28.3 29.3 40 FA523061705Agency-andGSE-backedsecurities(2) 37.9 39 FA523061105Treasurysecurities 36.6 27.2 38 FA523069105Openmarketpaper 31.7 37 FA524022005Debtsecurities 40.4 26.2 33.3 24 21 36 FA523020005Currencyanddeposits 51.0 -5.4 0.0 27.8 35 FA524090005Netacquisitionoffinancialassets 28.6 24.8 -23.0 0.0 29.4 34 FA525000995Netlending(+)orborrowing(-)(line33) 23 20 22.3 33.5 7.0 Financialaccount 0.0 6.4 17 22 -11.0 19 28.0 36.6 83.5 0.0 -40.0 3.8 33 FA525000995Netlending(+)orborrowing(-),capitalaccount(lines27-30) 4.7 38.4 -66.9 28.4 42.0 32 FA526300081Less:Consumptionoffixedcapital 0.0 3.7 42.2 -67.8 4.2 31 FA525013081Grossfixedcapitalformation(nonresidential) 15 14 22.9 30 FA525015085Capitalformation,net 113.5 0.0 -14.3 38.5 390.7 6.4 2.5 4.3 77.3 18.8 13 29 FA525440083Less:Capitaltransferspaid(net) 33.1 0.0 374.7 28 FA526012005Netsaving 33.3 50.1 4.5 2.3 20.1 4.7 27 FA526006385Netsavinglesscapitaltransfers 28.5 6 370.2 0.0 -1.1 23.4 16.0 2.2 5.0 380.9 Capitalaccount 22.5 24.2 4.2 5.1 22.8 357.9 9 17.9 2.9 7 5.1 23.5 2.5 326.0 13.7 26 FA526012005Equals:Netsaving 13.7 83.5 18.9 45.8 2 340.4 4 3.7 2.4 22.2 2.3 25 FA526012005Equals:Disposableincome,net 17.2 42.0 322.2 38.4 31.2 155.6 21.9 2.9 24 FA526403001Less:Othercurrenttransfers(paid) 2.2 16.2 150.9 113.5 23 FA526220001Less:Currenttaxesonincome,wealth,etc.(paid) 35.9 40.3 21.0 22 FA526140005Netnationalincome/Balanceofprimaryincomes,net 15.5 77.3 2.9 143.4 38.7 20.6 33.9 13.0 21 FA526112001Rentsonlandandnaturalresources 143.7 50.1 2.4 34.1 20.1 20 FA523192281Reinvestedearningsonforeigndirectinvestment 32.1 138.4 -1.1 19 FA526122001Withdrawalsfromincomeofquasi-corporations(1) 24.1 20.1 133.9 18 FA526121001Dividends 31.0 5.1 17 FA526120005Distributedincomeofcorporations 132.1 22.9 16 FA526130001Interest 29.3 127.1 15 FA526150005Less:Usesofpropertyincome(paid) 13.7 22.5 27.2 14 FA523092281ReinvestedearningsonU.S.directinvestmentabroad 13 FA526121101Distributedincomeofcorporations(dividends) 26.2 12 FA526130101Interest 11 FA526150105Propertyincome(received) 10 FA526402101Operatingsurplus,net 9FA526140005Netnationalincome/Balanceofprimaryincomes,net 8FA526402101Operatingsurplus,net 7FA526240101Taxesonproductionandimportslesssubsidies 6FA526401001Employers’socialcontributions 5FA526020001Wagesandsalaries 4FA526025005Compensationofemployees(paid) 3FA526902605Equals:Netvalueadded 2FA526300081Less:Consumptionoffixedcapital 1FA526902505Grossvalueadded Currentaccount Billions ofdollars S.63.a InsuranceCompanies

0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 1. 08-517. 225. 1. 1853 54 71.8 148.1 220.8 -10.1 233.2 56.3 170.6 32.2 138.9 78.2 126.9 131.6 -15.1 243.4 10.8 110.5 42 180.3 85.8 109.6 111.7 103.4 133.6 53.9 101.5 16 347.6 341.6 12 11 343.1 243.2 283.0 359.6 229.3 335.6 250.0 257.3 300.4 279.4 255.0 314.8 276.4 5 262.5 306.0 281.9 131.4 255.9 3 274.3 238.7 127.4 392.7 257.2 242.3 121.2 348.7 257.7 1 121.8 388.0 431.0 117.4 364.2 384.6 113.3 298.6 112.1 421.9 208.6 107.0 396.3 243.4 329.6 227.7 237.9 270.6 254.0 2. . . 821. 07-. 4. 41 -41.4 -3.8 38 -7.1 10.7 -17.5 18.4 13.3 -8.2 -6.7 8.1 -8.7 1.1 11.0 -28.7 17.0 -11.5 4033-. 2. 55-1639-4447 -24.4 45 3.9 64.1 43 -21.6 64.3 43.6 25.5 47.8 37.5 -21.9 39 45.0 39.9 -8.8 -20.8 24.0 43.7 3.3 33.2 37 21.7 32.0 24.0 31.9 132.8 13.1 19.5 5.8 110.1 16.3 16.3 181.1 20.6 17.6 120.8 -7.7 93.9 -2.3 132.4 15.5 44.7 77.5 18 32.8 24.6 18.6 14.4 15.1 10 191.2 18.4 8 166.6 19.1 191.2 204.3 10.8 166.6 181.8 126.2 204.3 50.6 181.8 126.2 88.4 50.6 78.2 88.4 78.2 611. 1. 1671-502. 2136 -2.1 21.9 -15.0 7.1 11.6 30 6.7 -15.2 14.0 5.1 -6.1 5.0 5.8 0.7 4.0 0.7 -1.4 ...... 56 9.3 6.2 9.9 6.2 51 2.5 -0.9 8.7 49 4.1 9.4 4.9 48 -2.5 7.6 5.1 44 -88.1 1.2 0.1 -20.3 -74.6 9.9 6.2 -48.1 4.3 14.8 -30.1 2.4 2.4 -32.8 6.3 -13.9 -19.6 -1.3 -4.0 4.4 1.7 8.0 3.6 4.6 -2.2 3.3 1.3 29 16.9 28 60.2 27 66.6 49.7 0.0 36.9 -23.2 0.0 41.6 26 41.6 66.6 46.2 0.0 25 46.2 66.6 51.7 36.9 0.0 51.7 32.6 36.9 41.6 14.3 32.6 44.4 46.2 41.6 0.0 30.1 5.6 51.7 46.2 5.6 32.6 51.7 44.4 32.6 5.6 44.4 5.6 Z.1, June11,2020 167

Integrated Accounts Integrated Accounts 0 M2020 ..drc netetara 3. 7. 0. 2. 8. 8. 2. 8. 105 104 186.6 4.8 227.9 4.3 189.1 185.9 3.9 221.3 106 859.3 3.5 207.1 100 170.8 780.2 3.1 2622.6 137.7 695.3 2930.2 96 3.0 640.1 2622.0 3244.9 609.2 2566.4 94 2.1 3217.3 2657.6 607.4 491.8 2575.9 3053.6 2.0 579.5 2211.1 2880.9 501.7 1979.0 2909.7 549.1 2736.1 107 FL523096005 Otheraccountsreceivable 480.8 2753.5 477.4 2615.8 106 FL523052005 Insurance,pensionandstandardizedguarantee schemes 504.2 105 LM523092005U.S.directinvestment abroad 485.4 104 FL523092405Equityingovernment-sponsored enterprises(2) 523.0 103 FL523034005Moneymarketfund shares 102 LM523064205Mutualfundshares 543.2 101 LM523064105Corporateequities 100 FL523081005Equityandinvestment fundshares 99 FL523065005Longterm(mortgages) 98 FL524041005Shortterm 97 FL524035005Loans 83 96 LM523063005Corporateandforeignbonds -38.8 95 LM523062005Municipalsecurities 94 LM523061705Agency-andGSE-backedsecurities(2) 19.2 93 LM523061105Treasurysecurities 92 FL523069105Openmarketpaper -41.6 91 LM524022005Debtsecurities -135.6 90 FL523020005Currencyanddeposits 101.2 79 -203.3 -65.1 89 FL524090005Financialassets 82 46.1 55.3 88 LM525013765Intellectualpropertyproducts -142.8 81 201.2 87 LM525013265Equipment -120.1 41.5 86 LM525013665Structures(nonresidential) 36.8 85 LM522010095Nonfinancialassets(4) 287.8 -39.5 18.6 112.6 84 FL522000095Totalassets -209.2 30.7 -59.8 64.5 Balancesheetaccount(endofperiod) -17.5 121.0 -198.4 -14.9 282.7 73.7 83 FC522090095Changeinnetworth(lines30+33+64+82) 25.1 170.1 203.4 Changesinbalancesheetaccount -29.9 67 -51.2 82 FR528200005Changesinnetworthduetonominalholdinggains/losses -3.6 81 FR523152005Insurance,pensionandstandardizedguaranteeschemes 80 FR523194735Investmentbyparent 44.5 79 FR523192005ForeigndirectinvestmentintheUnitedStates 78 FR523164105Corporateequityissues -26.9 77 FR524190085Liabilities 14.6 76 FR523092005U.S.directinvestmentabroad 32.8 75 FR523064205Mutualfundshares 74 FR523064105Corporateequities 37.6 73 FR524022005Debtsecurities 63 72 FR524090085Financialassets 8.1 94.2 59 71 FR525013765Intellectualpropertyproducts 57 14.8 70 FR525013265Equipment -24.7 -16.6 69 FR525013665Structures(nonresidential) 4.9 68 FR522010095Nonfinancialassets -7.9 -21.0 Revaluationaccount 67.3 61 10.7 34.8 153.5 36.4 6.9 39.3 67 FU527005045Less:Statisticaldiscrepancy(lines33-63)(3) 143.7 -4.2 66 FV528090085Othervolumechanges 2.3 -28.7 65 FV522010095Disasterlosses 167.0 -8.2 64 FV528090185Totalothervolumechanges -12.4 12.0 172.7 -2.6 -1.1 Otherchangesinvolumeaccount 112.5 9.9 115.9 -20.5 -7.5 106.0 63 FA525000005Netlending(+)orborrowing(-),financialaccount(lines35-54) Addendum: 248.0 62 FA523196005Otheraccountspayable 61 FA523152005Insurance,pensionandstandardizedguaranteeschemes 60 FA523194735Investmentbyparent 59 FA523192005ForeigndirectinvestmentintheUnitedStates 58 FA523164105Corporateequityissues 57 FA523181105Equityandinvestmentfundshares Billions ofdollars S.63.a InsuranceCompanies 168

Z.1, June11,2020 09312. 44617. 46515. 56712. 102 1424.0 1596.7 1459.5 1416.5 1477.9 1434.6 1229.4 1099.3 91 4621.1 4682.9 4471.5 89 4256.9 9978.8 4304.8 10135.3 4062.5 9471.1 4136.9 9037.3 4010.4 9062.5 8614.9 84 8307.5 10270.9 7877.2 10413.0 9739.3 9298.8 9316.5 8864.1 8549.1 8115.5 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 5. 6. 4. 2. 5. 3. 2. 9. 107 993.8 922.0 932.1 859.5 827.3 101 749.1 929.9 764.2 99 1033.4 98 753.3 588.6 97 909.2 172.6 524.5 761.2 879.9 172.5 880.9 95 480.9 697.0 168.2 481.6 859.3 443.4 93 649.1 165.8 722.9 398.4 536.7 360.5 609.2 167.1 650.1 374.5 565.5 535.9 377.9 159.1 352.8 533.5 534.8 161.3 334.2 339.7 514.1 520.2 158.0 310.1 497.8 497.4 310.5 504.4 274.5 86 505.4 298.0 85 176.7 305.0 292.0 168.9 277.8 164.1 268.2 161.7 261.5 157.3 253.9 154.5 249.3 151.8 241.6 152.0 238.3 73 -194.6 72 -398.6 101.4 468.1 27.2 175.0 -168.7 -263.1 148.4 272.4 -206.8 184.7 81.9 306.7 197.8 131.5 6. 951225. 1. 688. 6. 78 -62.9 76 77 -40.3 88.8 -248.0 75 34.6 66.8 431.8 -84.6 5.7 -11.0 216.2 211.8 59.1 -52.2 -36.6 91.1 122.2 210.7 4.3 -31.4 79.5 387.4 76.2 21.5 234.6 -61.5 -66.2 224.8 26.8 128.5 -26.0 -35.8 58 -21.6 -28.9 -25.2 -32.0 -31.8 -16.8 -24.5 -22.3 988. 197. 056. 787. 103 77.2 67.8 60.2 80.5 74.4 71.9 92 85.9 42.3 89.8 49.4 90 66.9 120.9 88 53.6 87 123.0 67.6 47.8 60.3 101.1 62.3 69.0 105.2 46.5 58.4 98.1 58.0 45.7 54.1 86.5 41.0 45.7 50.9 101.7 45.8 87.7 49.0 45.8 44.5 45.3 41.3 45.0 62 -1.2 79.9 38.8 -18.2 44.6 23.3 23.7 17.1 456. 4. 34-655. 2. 7. 74 71 -79.1 -0.0 120.4 0.2 50.9 -26.5 -0.1 43.4 -0.4 145.2 -0.5 69.5 -4.5 -0.1 64 -0.6 54.3 -0.0 0.9 -43.7 27.5 -15.0 -37.5 -57.7 -7.8 ...... 80 0.0 0.0 0.0 0.0 0.0 69 70 0.0 68 7.6 0.3 7.8 0.0 4.8 0.1 5.2 0.0 2.3 -0.5 1.8 65 66 2.8 -0.7 0.0 1.7 3.1 -0.1 3.4 2.9 0.0 -2.7 -0.3 4.6 4.3 -0.0 0.8 0.0 2.2 1.6 0.3 0.5 0.0 5.4 5.7 -0.4 0.0 -4.7 0.0 60 -19.9 -9.8 -0.1 0.3 0.0 3.1 1.1 -0.3 0.9 -7.6 12.0 9.3

1 L2110 Eut n netetfn hrs60263270671776390612. 7. 112 114 879.1 369.3 1023.6 110 419.6 900.6 85.7 (4) Excludesland. 116 359.5 786.3 reflectsdifferencesinsourcedata,timingofrecordedtransactions,andotherstatisticalbetweenthecapitalfinancialaccounts. 7702.0 (3) Thestatisticaldiscrepancyisthedifferencebetweennetlendingorborrowingderivedincapitalaccountandsameconceptfinancialaccount. 82.7 287.9 771.7 theFinancingCorporation,andResolutionFundingtheyincludedStudentLoanMarketingAssociationuntilitwasfullyprivatizedin2004:Q4. 7668.5 230.0 710.6 (2) Government-sponsoredenterprises(GSEs)consistofFederalHomeLoanBanks,FannieMae,FreddieMac,AgriculturalMortgageCorporation,FarmCreditSystem, 108 70.7 7237.1 197.0 theyprimarilycovertheiroperatingcoststhroughsales,andkeepacompletesetoffinancialrecords. 623.2 10270.9 6940.0 (1) Consistsofrentalincometenant-occupiedhousingandproprietors’income.Quasi-corporationsareunincorporatedenterprisesthatfunctionasiftheywerecorporations; 10413.0 63.8 202.6 6827.1 620.2 9739.3 6593.6 207.7 61.0 118 FL522090095Networth 9298.8 6194.9 9316.5 5918.9 52.9 117 FL523196005Otheraccountspayable 8864.1 8549.1 61.5 116 FL523152005Insurance,pensionandstandardizedguaranteeschemes 8115.5 61.9 115 FL523194735Investmentbyparent 114 LM523192005ForeigndirectinvestmentintheUnitedStates 113 LM523164105Corporateequityissues 112 FL523181105Equityandinvestmentfundshares 111 FL524141005Loans(shortterm) 110 FL673090543Currencyanddeposits(fundingagreements) 109 FL524194005Liabilities 108 FL522100005Totalliabilitiesandnetworth Billions ofdollars S.63.a InsuranceCompanies

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Integrated Accounts Integrated Accounts 4 F53675 gny n S-akdscrte 2 5. 1. 542. 1. 093. 6854 46.8 34.2 10.9 -11.7 46 0.0 47 20.0 402.9 -5.4 -0.0 477.4 -11.6 0.0 337.0 -52.9 327.1 0.0 319.2 -0.0 470.4 464.2 0.0 449.2 43 0.0 1334.1 42 44 56 FA593063005 Corporateandforeignbonds 1259.9 41 7.2 149.0 38 55 FA593062045 Municipalsecurities 0.0 45 1175.5 691.5 -199.8 54 FA593061705 Agency-andGSE-backedsecurities(2) 152.6 34 143.0 1160.5 53 FA593061105 Treasurysecurities 7.6 -144.7 656.0 0.0 52 FA593069105Openmarketpaper 176.6 1107.6 148.3 40 -111.0 51 FA594022005Debtsecurities 637.3 1049.5 6.8 175.3 34.0 167.1 -88.3 -0.0 943.6 626.4 50 FA593030005Timeandsavingsdeposits 195.3 141.4 49 FA593020005Currencyandtransferable deposits 31.3 -64.3 6.5 863.2 608.8 0.0 48 FA594000005Currencyanddeposits 201.7 121.0 31 -65.2 28.9 595.5 6.1 212.7 47 FA594090005Netacquisitionoffinancial assets 0.0 0.0 127.1 -99.2 579.0 26.5 245.9 146.7 46 FA595000995Netlending(+)orborrowing(-)(line33) 5.7 33 0.0 -87.4 -0.0 556.2 24.8 154.7 0.0 Financialaccount 5.1 0.0 0.0 23.1 -0.0 45 FA596403053Less:netchangeinassetsfromcurrenttransactionforDCplans 4.8 0.0 0.0 21.7 44 FA596403043Less:netchangeinbenefitentitlementsfromDBplans 0.0 43 FA596403033Less:benefitpaymentsandwithdrawals 20.4 0.0 0.0 0.0 42 FA596403023Less:pensionservicechargefordefinedcontribution(DC)plans 24 41 FA596403163Householdpensioncontributionsupplements 0.0 0.0 -0.0 21 40 FA596403013Less:pensionservicechargesfordefinedbenefit(DB)plans 23 39 FA596403153Actualhouseholdcontributions 0.0 0.0 -0.0 0.0 0.0 38 FA596403143Imputedemployercontributions 37 FA596403133Actualemployercontributions 0.0 0.0 0.0 22 36 FA596403125Claimstopensionbenefits 0.0 0.0 35 FA596403115Contributionsreceived 0.0 20 0.0 0.0 0.0 0.0 0.0 34 FA596403105Othercurrenttransfersreceived,net(line24) 19 0.0 Addenda: -0.0 0.0 0.0 0.0 0.0 17 0.0 0.0 33 FA595000995Netlending(+)orborrowing(-),capitalaccount(lines27-30) 0.0 0.0 189.6 0.0 0.0 15 14 0.0 32 FA596300081Less:Consumptionoffixedcapital 178.7 0.0 0.0 691.5 0.0 0.0 0.0 31 FA595013081Grossfixedcapitalformation(nonresidential) 0.0 167.1 30 FA595015085Capitalformation,net 0.0 656.0 0.0 0.0 0.0 0.0 160.6 0.0 0.0 29 FA595440083Less:Capitaltransfers(net) 637.3 9 7 0.0 28 FA596012005Netsaving 13 153.2 0.0 626.4 0.0 0.0 27 FA596006385Netsavinglesscapitaltransfers 0.0 0.0 0.0 189.6 0.0 142.1 0.0 608.8 Capitalaccount 178.7 0.0 0.0 0.0 128.7 0.0 0.0 595.5 167.1 0.0 115.9 579.0 0.0 0.0 0.0 0.0 26 FA596012005Equals:Netsaving 0.0 160.6 556.2 153.2 25 FA596012005Equals:Disposableincome,net 0.0 0.0 0.0 0.0 142.1 24 FA596403105Plus:Othercurrenttransfersreceived,net 0.0 23 FA596220001Less:Currenttaxesonincome,wealth,etc.(paid) 0.0 0.0 128.7 22 FA596140005Netnationalincome/Balanceofprimaryincomes,net 115.9 0.0 0.0 0.0 21 FA596112001Rentsonlandandnaturalresources 20 FA593192281Reinvestedearningsonforeigndirectinvestment 19 FA596122001Withdrawalsfromincomeofquasi-corporations(1) 0.0 0.0 18 FA596121001Dividends 17 FA596120005Distributedincomeofcorporations 0.0 0.0 16 FA596130001Interest 15 FA596150005Less:Usesofpropertyincome(paid) 14 FA593092281ReinvestedearningsonU.S.directinvestmentabroad 13 FA596121101Distributedincomeofcorporations(dividends) 12 FA596130101Interest 11 FA596150105Propertyincome(received) 10 FA596402101Operatingsurplus,net 9FA596140005Netnationalincome/Balanceofprimaryincomes,net 8FA596402101Operatingsurplus,net 7FA596240101Taxesonproductionandimportslesssubsidies 6FA596401001Employers’socialcontributions 5FA596020001Wagesandsalaries 4FA596025005Compensationofemployees(paid) 3FA596902605Equals:Netvalueadded 2FA596300081Less:Consumptionoffixedcapital 1FA596902505Grossvalueadded Currentaccount Billions ofdollars S.64.a PensionFunds 170

Z.1, June11,2020 23910. 38312. 47211. 50912. 35 1626.1 1560.9 1519.1 1477.2 1423.8 1378.3 1303.0 1263.9 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 0. 4. 2. 1. 631003. 2. 53 426.9 33.5 170.0 56.3 113.4 122.9 148.4 109.6 39 435.3 37 417.9 36 740.2 941.8 401.4 670.4 912.4 380.2 627.1 888.6 352.8 591.9 857.3 329.8 557.5 821.2 311.1 547.1 788.5 294.6 538.9 729.1 525.7 712.4 18 189.6 16 178.7 501.9 167.1 477.3 12 160.6 470.2 11 501.9 153.2 691.5 465.8 477.3 142.1 656.0 455.6 470.2 128.7 637.3 453.4 465.8 115.9 626.4 450.3 455.6 608.8 440.3 453.4 595.5 450.3 579.0 440.3 556.2 231751071344. 3. 508. 56 81.2 45.0 -36.2 51 555.9 44.3 115.0 103.4 156.2 110.7 85.4 117.5 237.1 32.3 239.3 252.6 90.7 060109-. . . . . 55 0.8 0.7 0.2 0.1 -0.2 0.9 0.1 -0.6 . 171. . 361. . . 52 0.3 50 49 0.8 1.6 0.9 48 1.7 3.3 11.2 -5.6 -2.3 -3.6 -0.2 -0.8 -1.0 0.5 -4.1 3.6 -0.5 10.2 1.2 5.8 6.9 -1.7 6.1 3.7 9.8 2.3 -2.3 3.9 1.7 2.0 5.5 7.5 32 0.0 30 0.0 0.0 29 0.0 28 0.0 0.0 27 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 26 0.0 0.0 0.0 0.0 25 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 10 0.0 0.0 0.0 8 0.0 0.0 6 5 0.0 0.0 4 0.0 0.0 3 0.0 0.0 0.0 0.0 0.0 2 0.0 0.0 0.0 0.0 0.0 1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

0 L9010 Eut n netetfn hrs68. 09683. 62287. 955133099. 102 9494.6 10333.0 106 7452.6 8905.5 8470.3 6912.3 96 8642.2 91 7366.2 378.2 53.8 7225.1 8336.9 312.4 7009.6 6759.1 53.0 277.2 6288.6 6681.4 5922.2 268.0 58.6 6118.2 289.6 59.4 263.7 55.8 106 FL593052025 Insurance,pensionandstandardizedguarantee schemes 285.4 50.0 105 FL593034005 Moneymarketfundshares 288.6 104 LM593064205Mutualfundshares 46.3 103 LM593064105Corporateequities 102 FL593081005Equityandinvestment fundshares 42.3 101 FL593065005Longterm(mortgages) 83 100 FL594041005Shortterm 15.2 99 FL594035005Loans 98 LM593063005Corporateandforeignbonds 26.1 97 LM593062045Municipalsecurities 96 LM593061705Agency-andGSE-backedsecurities(2) 30.2 95 LM593061105Treasurysecurities 94 FL593069105Openmarketpaper 81 14.8 93 LM594022005Debtsecurities -448.6 -10.0 789.7 92 FL593030005Timeandsavingsdeposits 82 91 FL593020005Currencyandtransferabledeposits -21.1 363.9 15.2 90 FL594000005Currencyanddeposits -13.4 -104.0 26.1 89 FL594090005Financialassets 277.7 -4.0 30.2 88 LM595013765Intellectualpropertyproducts 706.9 87 LM595013265Equipment 80 86 LM595013665Structures(nonresidential) 14.8 392.3 387.8 85 LM592010095Nonfinancialassets(4) -68.8 -10.0 -704.2 71 84 FL592000095Totalassets -282.9 0.1 -21.1 Balancesheetaccount(endofperiod) 147.2 -13.4 0.1 -298.8 -4.0 83 FC592090095Changeinnetworth(lines30+33+68+82) -791.5 0.0 -441.2 Changesinbalancesheetaccount 36.9 -0.1 82 FR598200005Changesinnetworthduetonominalholdinggains/losses -0.2 81 FR594190005Liabilities(pensionentitlements) -0.2 67 80 FR593052025Insurance,pension,andstandardizedguaranteeschemes 0.4 79 FR593064205Mutualfundshares -0.1 78 FR593064105Corporateequities 77 FR594022005Debtsecurities -0.1 0.1 76 FR594090085Financialassets 66 -0.0 403.0 75 FR595013765Intellectualpropertyproducts 74 FR595013265Equipment 477.5 0.1 73 FR595013665Structures(nonresidential) 60 72 FR592010095Nonfinancialassets 337.1 -111.2 0.2 64 327.0 Revaluationaccount -68.6 31.7 319.0 0.2 -229.2 71 FU597005045Less:Statisticaldiscrepancy(lines33-67)(3) 166.5 470.2 7.8 70 FV598090085Othervolumechanges -0.4 339.7 464.6 69 FV592010095Disasterlosses -213.5 68 FV598090185Totalothervolumechanges 248.8 449.4 -0.1 -256.7 Otherchangesinvolumeaccount 256.5 -73.1 452.0 -48.9 67 FA595000005Netlending(+)orborrowing(-),financialaccount(lines47-66) 252.9 Addendum: 344.8 66 FA594190005Netincurrenceofliabilities(pensionentitlements) 65 FA593093005Otheraccountsreceivable 64 FA593052025Insurance,pensionandstandardizedguaranteeschemes 63 FA593034005Moneymarketfundshares 62 FA593064205Mutualfundshares 61 FA593064105Corporateequities 60 FA593081005Equityandinvestmentfundshares 59 FA593065005Longterm(mortgages) 58 FA594041005Shortterm 57 FA594035005Loans Billions ofdollars S.64.a PensionFunds

60. 73. 99. 09. 00. 12. 29. 28. 89 22689.9 22599.8 21223.0 20407.5 20099.8 19393.0 17138.3 84 16303.1 22698.3 22607.8 21230.7 20415.1 20107.4 19400.7 17146.0 16310.3 52220. 47132. 51736. 38048. 104 4083.4 103 5188.1 4368.0 5744.0 3769.8 4912.2 3551.7 4710.8 3623.5 4808.0 3417.1 4707.5 2809.3 4006.4 2532.2 95 3548.4 2818.0 93 2370.4 4561.5 2337.3 4099.9 2176.1 3961.2 2127.5 3792.3 1998.5 3763.8 1907.5 3479.2 1765.9 3346.8 3068.3 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 0. 9. 1. 1. 0. 2. 2. 2. 105 223.1 221.0 223.4 207.9 210.7 212.3 193.8 98 1264.1 208.0 1316.7 1248.7 1261.7 1256.7 1127.4 1075.2 933.6 8. 9. 5. 4. 8. 5. 5. 38979 -318.9 78 -408.4 555.8 76 940.3 -433.7 250.3 815.6 414.1 -89.0 394.0 -90.6 146.8 -89.3 372.0 458.4 267.5 1125.6 295.8 498.3 685.6 -83.9 -76.5 378.8 -73.0 62 34.3 42.4 61 -147.6 -32.1 -108.5 17.2 -212.6 -6.6 59.6 -271.5 149.4 -424.5 -18.7 -40.2 -41.5 -21.5 453. 883. 003. 364. 101 41.7 99 33.6 49.3 36.8 192.8 44.2 30.0 94 97.1 36.5 32.2 92 96.9 39.0 28.8 38.3 90 95.3 35.6 33.5 92.2 37.5 84.0 39.4 34.5 90.5 34.3 87.7 40.6 92.8 34.5 87.2 93.9 38.6 77.0 94.3 37.4 78.7 87.4 31.4 77.7 33.7 76.0 77 -94.2 23.7 12.6 -56.9 47.6 -107.0 25.9 50.5 65 68.4 63 118.2 2.1 63.7 -2.4 -12.0 15.5 28.8 -2.8 29.9 -1.6 31.3 58.6 18.5 -14.2 14.1 00-. . 00-. . . . 75 0.0 0.0 0.0 -0.0 -0.0 0.0 -0.0 -0.0 59 8.1 58 -151.7 57 -3.2 -143.6 151.8 6.8 148.6 0.9 7.7 -2.2 -0.3 -2.5 3.4 0.1 3.4 -4.7 0.8 -3.9 -1.1 -0.1 -1.1 -3.4 -0.1 -3.4 ...... 5. . 100 7.6 97 159.3 4.1 7.5 3.4 6.5 2.7 6.8 2.5 6.8 2.4 88 6.0 87 0.9 2.4 86 0.4 85 6.0 7.2 0.8 8.4 1.7 0.3 6.8 0.7 8.0 1.5 0.3 6.7 0.6 7.7 0.3 6.7 0.6 7.6 0.3 6.7 0.6 7.6 0.3 6.7 0.7 7.6 0.3 6.7 0.4 7.7 0.3 6.6 7.2 73 74 72 0.3 0.0 0.3 0.2 0.0 0.2 0.1 -0.0 0.1 70 69 0.1 -0.0 0.1 0.0 0.1 68 -0.0 0.0 0.2 0.1 0.0 0.1 -0.0 0.0 0.2 0.0 0.0 0.2 -0.0 -0.0 0.1 -0.1 0.0 0.1 0.0 -0.0 0.2 -0.2 0.0 0.2 0.0 -0.2 0.0 -0.0 0.4 0.0 0.0 0.1 0.0 0.0 Z.1, June11,2020 171

Integrated Accounts Integrated Accounts 0 L9100 Laiiis(eso nilmns 65. 79. 97. 09. 08. 17. 22. 29. 109 22796.7 22721.3 21370.3 20585.0 20292.1 19575.3 17299.6 16450.5 (4) Excludesland. reflectsdifferencesinsourcedata,timingofrecordedtransactions,andotherstatisticalbetweenthecapitalfinancialaccounts. (3) Thestatisticaldiscrepancyisthedifferencebetweennetlendingorborrowingderivedincapitalaccountandsameconceptfinancialaccount. theFinancingCorporation,andResolutionFundingtheyincludedStudentLoanMarketingAssociationuntilitwasfullyprivatizedin2004:Q4. (2) Government-sponsoredenterprises(GSEs)consistofFederalHomeLoanBanks,FannieMae,FreddieMac,AgriculturalMortgageCorporation,FarmCreditSystem, theyprimarilycovertheiroperatingcoststhroughsales,andkeepacompletesetoffinancialrecords. (1) Consistsofrentalincometenant-occupiedhousingandproprietors’income.Quasi-corporationsareunincorporatedenterprisesthatfunctionasiftheywerecorporations; 110 FL592090095Networth 109 FL594190005Liabilities(pensionentitlements) 108 FL592000095Totalliabilitiesandnetworth 107 FL593093005Otheraccountsreceivable Billions ofdollars S.64.a PensionFunds 172

Z.1, June11,2020 61. 74. 90. 00. 01. 13. 20. 29. 108 22698.3 22607.8 21230.7 20415.1 20107.4 19400.7 17146.0 16310.3 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 102-5. 147-8. 199-3. 135-84110 -98.4 -113.5 -139.6 -169.9 -184.7 -174.7 -153.6 -140.2 1. 4. 7. 0. 8. 5. 7. 097107 1039.7 971.3 853.1 789.4 801.3 772.6 742.7 711.4

2 F73405 nuac,pninadsadrie urne cee ...... 52 4.0 49 -0.2 4.0 -0.4 46 4.0 -0.5 135.7 4.1 142.3 1.2 545.4 5.0 0.3 351.3 5.1 499.3 0.1 40 458.4 7.3 14.1 0.0 614.9 55 FA403197033 Currencyanddeposits 28.9 2.4 140.4 -0.0 54 FA854190005Netincurrenceofliabilities 192.0 35 53 FA853096005Otheraccountsreceivable -108.5 1110.9 1375.2 -155.5 52 FA733040005Insurance,pension andstandardizedguaranteeschemes 1052.0 -166.1 34 51 FA793094005Investmentinsubsidiaries 339.6 112.3 -186.5 50 FA803092005U.S.directinvestment abroad 29 49 FA813092405Equityingovernment-sponsored enterprises(3) 684.7 -273.4 151.1 48 FA503034005Moneymarketfundshares 0.0 32 -151.2 306.1 47 FA813064105Corporateequities 156.1 -168.3 46 FA813081005Equityandinvestmentfundshares 1151.7 32.8 147.6 -143.9 86.9 45 FA813065005Longterm(mortgages) 1.8 -159.4 44 FA854041005Shortterm 31 139.8 43 FA854035005Loans 192.5 10.9 132.2 0.0 180.1 42 FA853063005Corporateandforeignbonds 73.4 125.2 33 41 FA853062005Municipalsecurities 177.6 10.0 40 FA853061705Agency-andGSE-backedsecurities(3) -186.5 118.3 39 FA853061105Treasurysecurities 165.4 -273.4 0.0 24 111.6 38 FA853069175Openmarketpaper -151.2 37 FA854022005Debtsecurities 157.4 34.1 21 106.0 -168.3 -4.7 141.1 0.0 36 FA854000005Currencyanddeposits 30.2 -143.9 134.2 -32.1 35 FA854090005Netacquisitionoffinancialassets -159.4 0.0 31.0 23 114.9 10.9 28.0 34 FA855000995Netlending(+)orborrowing(-)(line33) 20 29.3 0.0 10.0 73.4 Financialaccount 39.0 46.8 0.0 7.9 41.3 43.9 22 17 33 FA855000995Netlending(+)orborrowing(-),capitalaccount(lines27-30) 19 0.0 -87.9 494.3 35.0 6.6 66.3 42.4 32 FA856300085Less:Consumptionoffixedcapital 519.7 -138.9 31 FA855013085Grossfixedcapitalformation(nonresidential) 40.5 0.0 64.9 6.5 37.6 30 FA855015085Capitalformation,net 15 -39.3 443.0 41.2 1231.3 42.7 0.0 29 FA855440085Less:Capitaltransferspaid(net) 14 -70.9 435.9 7.6 1204.4 28 FA856012005Netsaving -28.6 31.2 9.4 13 448.3 27 FA856006385Netsavinglesscapitaltransfers -14.4 1045.1 0.0 7.8 35.7 385.8 1010.4 476.4 26.9 -51.5 Capitalaccount 17.8 996.4 7 306.8 31.6 8.4 343.0 102.5 1020.4 49.1 27.7 280.8 4 274.3 26 FA856012005Equals:Netsaving 35.9 114.7 9 943.6 8.5 281.1 66.8 27.6 451.6 -87.9 25 FA856012005Equals:Disposableincome,net 893.8 35.6 277.2 2 449.9 53.7 23.9 -138.9 24 FA856403005Less:Othercurrenttransfers(paid) 38.0 253.6 156.1 406.4 23 FA856220005Less:Currenttaxesonincome,wealth,etc.(paid) -39.3 18.6 22 FA856140005Netnationalincome/Balanceofprimaryincomes,net 212.8 147.6 34.7 389.4 -70.9 18.4 188.0 21 FA856112005Rentsonlandandnaturalresources 139.8 370.8 41.5 -14.4 20 FA853192285Reinvestedearningsonforeigndirectinvestment 23.0 132.2 19 FA856122005Withdrawalsfromincomeofquasi-corporations(2) 334.5 -51.5 18 FA856121005Dividends 125.2 328.4 24.5 17 FA856120005Distributedincomeofcorporations 102.5 16 FA856130005Interest 118.3 318.6 15 FA856150005Less:Usesofpropertyincome(paid) 23.2 114.7 14 FA853092285ReinvestedearningsonU.S.directinvestmentabroad 111.6 13 FA856121105Distributedincomeofcorporations(dividends) 106.0 12 FA856130105Interest 11 FA856150105Propertyincome(received) 10 FA856402105Operatingsurplus,net 9FA856140005Netnationalincome/Balanceofprimaryincomes,net 8FA856402105Operatingsurplus,net 7FA856240105Taxesonproductionandimportslesssubsidies 6FA856401005Employers’socialcontributions 5FA856020005Wagesandsalaries 4FA856025005Compensationofemployees(paid) 3FA856902605Equals:Netvalueadded 2FA856300085Less:Consumptionoffixedcapital 1FA856902505Grossvalueadded Currentaccount Billions ofdollars S.65.a OtherFinancialBusiness(1)

0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 1932321644. 527. 9. 4. 42 149.3 195.7 77.0 35.2 48.6 196.4 223.2 -169.3 0. 0. 74159190342-506. 51 64.4 -75.0 314.2 129.0 175.9 47.4 506.4 104.2 39 473.2 146.3 459.5 263.0 50.2 -96.4 118.5 233.7 18 428.0 16 454.7 726.9 400.3 676.8 12 426.5 595.5 10 711.1 11 430.5 567.9 75.1 1068.2 652.6 427.3 8 995.1 540.4 70.4 583.8 75.1 276.2 896.2 536.2 508.6 109.6 220.6 825.6 592.2 70.4 5 508.4 113.9 821.2 610.9 383.7 3 109.6 522.9 160.8 814.4 383.4 554.5 113.9 617.6 154.5 865.1 346.9 547.9 160.8 675.5 181.0 1 905.0 333.5 539.9 154.5 103.4 710.6 318.0 521.8 181.0 695.5 284.3 550.0 103.4 679.7 279.8 512.0 654.1 270.1 533.9 675.2 445.2 630.4 645.5 551.2 3. 1505. 4. 149-4. 19-3. 53 -136.9 11.9 48 7.5 -143.1 -134.9 7.4 141.6 57.9 105.2 45 338.0 -16.8 -155.0 43 327.9 -31.3 16.6 497.4 41 159.9 -7.4 33.1 629.3 84.3 291.2 29.6 2.8 38 13.1 79.8 14.8 -28.9 -23.3 36 80.3 154.2 111.7 -16.1 -73.7 -100.1 -107.2 -111.7 -16.6 75.4 -80.3 165.7 20.1 -90.7 -233.4 -37.5 -37.1 46.9 -154.3 -10.2 -5.0 -50.7 -10.2 58.9 -67.5 28.2 -84.5 6318. 8. 8. 4. 8. 25489254 829.2 50 1215.4 -5.6 986.1 248.4 23.2 689.6 47 55.1 69.5 282.3 23.5 1083.7 187.1 16.3 18.2 44 71.5 159.4 9.9 214.5 301.4 288.3 15.8 131.3 408.4 -4.5 16.9 89.8 141.1 37 42.6 684.4 -187.5 265.8 512.3 42.9 587.9 193.6 -110.3 -166.9 490.6 97.3 28 27 -150.1 -150.1 -208.1 -240.9 -111.5 -113.3 -135.2 26 -135.2 -101.7 -150.1 -111.7 25 -136.6 -208.1 -136.6 -150.1 28.9 -111.5 33.6 -208.1 -135.2 50.2 -111.5 82.3 -101.7 -135.2 -136.6 -101.7 28.9 -136.6 28.9 50.2 50.2 6 67.9 66.5 59.5 55.9 52.8 50.1 48.6 48.4 1812-. 15-. 04-. 0255 -0.2 -0.3 -0.4 -0.5 -1.5 -3.2 1.2 -1.8 . 272. 223. 793. 6430 36.4 32.5 37.9 33.1 32.2 22.8 22.7 8.9 Z.1, June11,2020 173

Integrated Accounts Integrated Accounts 0 L5030 Croaeadfrinbns23. 45528. 56426. 56921. 725105 2792.5 2815.9 2576.9 2463.7 103 2576.4 1898.4 2488.3 1886.4 2475.5 1856.5 2135.3 1668.1 1788.5 1924.7 2136.1 2003.4 108 FL813065005 Longterm(mortgages) 107 FL854041005 Shortterm 106 FL854035005 Loans 92 105 FL853063005Corporateandforeign bonds 511.5 104 FL853062005Municipalsecurities -589.3 103 FL853061705Agency-andGSE-backed securities(3) 102 FL853061105Treasurysecurities -178.2 101 FL853069175Openmarketpaper 103.1 100 FL854022005Debtsecurities 88 -445.0 -92.9 99 FL854000005Currencyanddeposits -790.8 53.3 98 FL854090005Financialassets -17.6 91 242.9 24.0 97 LM815013765Intellectualpropertyproducts 232.9 96 LM815013265Equipment -502.2 95 LM815013665Structures(nonresidential) -30.7 -491.6 94 LM812010095Nonfinancialassets(5) 45.9 0.3 93 FL852000095Totalassets 42.9 -273.9 Balancesheetaccount(endofperiod) 4.7 -916.9 -434.1 92 FC852090095Changeinnetworth(lines30+33+73+91) -44.3 166.1 Changesinbalancesheetaccount 91 FR858200005Changesinnetworthduetonominalholdinggains/losses 76 -468.1 90 FR803194005Investmentbyparent 89 FR662090003Equityinnoncorporatebusiness -433.2 88 FR803192005ForeigndirectinvestmentintheUnitedStates -217.0 87 FR653164205Mutualfundshares 86 FR813164105Corporateequityissues -259.5 85 FR813181085Liabilities -139.0 -183.1 84 FR803092005U.S.directinvestmentabroad 83 FR813064105Corporateequities -57.0 82 FR854022005Debtsecurities 67 72 68 81 FR854090085Financialassets 2.8 1.1 281.6 12.6 80 FR815013765Intellectualpropertyproducts 159.8 79 FR815013265Equipment 4.2 27.7 65.9 78 FR815013665Structures(nonresidential) 77 FR812010095Nonfinancialassets 30.8 2.7 63 91.2 Revaluationaccount 378.6 26.6 1.3 -4.9 842.9 18.7 76 FU857005045Less:Statisticaldiscrepancy(lines33-72)(4) 23.7 558.5 1.2 75 FV858090085Othervolumechanges 8.4 74 FV812010095Disasterlosses 476.0 68.0 0.5 73 FV858090185Totalothervolumechanges 649.4 57 13.2 70.6 Otherchangesinvolumeaccount 246.9 630.8 -1.8 24.3 346.9 1062.5 -5.9 72 FA855000005Netlending(+)orborrowing(-),financialaccount(lines35-54) 306.3 351.7 Addendum: 220.4 71 FA813196005Otheraccountspayable 150.3 70 FA803194005Investmentbyparent 238.3 69 FA662090003Equityinnoncorporatebusiness 68 FA803192005ForeigndirectinvestmentintheUnitedStates -23.8 67 FA403192405Equityingovernment-sponsoredenterprises(3) 66 FA653164205Mutualfundshares -22.1 65 FA813164105Corporateequityissues 64 FA634090005Moneymarketfundshares 63 FA853181005Equityandinvestmentfundshares 62 FA123165005Longterm(mortgages) 61 FA814141005Shortterm 60 FA814135005Loans 59 FA813169105Commercialpaper 58 FA813163005Corporatebonds 57 FA423161705Agency-andGSE-backedsecurities(3) 56 FA814122005Debtsecurities Billions ofdollars S.65.a OtherFinancialBusiness(1) 174

Z.1, June11,2020 21. 28. 29. 21. 22. 28. 36. 44. 106 14046.9 13569.9 12882.9 12622.5 12718.4 12591.8 12782.8 12715.9 98 42612.2 43126.3 39338.7 37534.7 38026.8 36815.5 34923.6 93 32511.8 43891.0 44341.9 40505.7 38658.3 39110.5 37856.0 35924.1 33482.5 25681. 03080. 00981. 54784. 108 8846.3 107 5200.5 8524.7 104 5045.2 986.4 8219.9 4663.0 8090.9 974.5 4531.7 8008.5 926.1 4709.9 102 8023.0 2649.4 4568.8 971.3 8015.0 100 2200.0 4767.7 8225.6 8828.1 986.4 2055.3 4490.3 8363.0 1618.9 952.4 7790.7 1380.2 1093.6 7209.2 1298.1 1023.0 7197.2 1468.4 7165.2 1361.0 7684.9 7044.2 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 1102. 705. 9. . 45-0. 84 86 87 -107.8 -673.1 -1165.9 84.5 973.7 1965.0 85 689.6 494.3 6.1 -1931.9 83 2992.0 -352.3 -201.5 -1391.2 1207.9 -96.9 506.1 2319.6 498.2 81 -584.5 707.4 -1720.2 1622.6 59.7 923.0 1050.2 2470.3 1035.5 -339.4 474.2 2588.4 707.0 -7.0 -289.3 560.0 1514.3 -213.7 -593.5 27.3 -545.5 1971.4 762.0 944.9 -101.0 1654.6 -445.0 1068.6 -404.9 71 -215.7 -123.3 94.0 64 189.9 -159.9 -13.8 117.2 -11.1 -106.4 -185.4 -6.7 -168.3 58 15.7 62.5 40.2 69.5 56 2.2 53.0 328.7 410.0 -112.6 -23.3 407.1 58.5 162.5 -54.1 169.3 18.8 167.4 -213.5 -58.5 -302.6 2. 1. 0. 6. 8. 7. 8. 0. 101 501.4 486.2 99 583.8 375.9 657.5 487.2 583.3 96 465.7 95 512.1 816.7 501.7 650.5 491.5 986.0 511.3 617.7 475.0 991.0 94 521.5 595.0 1278.7 450.4 932.1 582.1 1215.7 422.4 901.8 1167.0 572.7 391.2 1123.6 563.7 1083.7 366.5 552.6 1040.5 345.5 1000.5 549.0 970.7 82 -221.3 66.3 -6.4 -157.3 142.3 -309.8 96.4 141.1 66 -63.3 65 318.4 225.2 28.8 445.0 285.6 98.9 61 60 253.3 353.7 311.5 337.9 280.8 80.5 346.9 86.1 227.7 -74.0 386.6 -73.0 220.0 200.8 -233.7 167.8 -229.7 -123.1 -113.8 -426.2 -406.3 259.2 264.1 169.3 182.7 1. 2. 96-9. 2. 0. 276-7075 -47.0 73 -277.6 418.7 209.7 153.8 -21.5 426.8 -198.4 238.0 79.6 -59.4 327.2 262.7 -12.6 382.9 -15.4 59 19.2 -6.4 2.4 -34.6 -39.4 -16.8 -53.5 -66.9 628. 568. 119. 0. 1. 97 116.1 106.4 97.0 91.1 88.6 85.6 81.4 76.2 78 77 29.7 31.2 19.8 19.4 10.9 9.3 11.3 9.3 13.7 14.3 17.4 16.9 9.3 11.5 19.3 25.5 70 3.6 -70.5 204.3 62 97.4 -15.8 17.1 5.6 4.1 1.0 431.8 4.0 33.7 9.3 19.9 4.8 13.5 181. . . . 73109569 9.5 1.0 17.3 5.3 4.3 2.9 10.4 -1.8 . 0100000000000090 89 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 80 0.3 79 0.0 0.0 1.3 0.7 -0.1 0.0 -1.0 1.8 0.2 0.0 -1.8 -0.3 -1.7 74 -0.5 -2.4 1.1 0.1 -1.8 -0.6 -0.5 0.0 2.7 0.3 0.0 5.9 0.0 0.0 -1.3 0.0

3 M6000 qiyi ocroaebsns 743. 084. 046. 877. 133 78.2 68.7 67.7 131 50.4 52.2 132 45.1 414.2 51.1 40.8 494.6 46.9 413.5 37.9 44.2 358.8 27.4 42.9 362.9 127 27710.5 298.2 41.7 29263.8 25547.5 246.9 41.2 23821.8 24041.7 229.0 22342.1 43.1 121 19123.8 136 FL852090095Networth 9090.0 16515.1 8843.0 135 FL813196005Otheraccountspayable 8496.1 134 FL803194005Investmentbyparent 8144.4 133 LM662090003Equityinnoncorporatebusiness 7924.0 132 LM803192005ForeigndirectinvestmentintheUnitedStates 117 7773.7 131 FL403192405Equityingovernment-sponsoredenterprises(3) 43891.0 113 112 44341.9 509.9 130 LM653164205Mutualfundshares 0.6 7535.4 40505.7 129 LM813164105Corporateequityissues 7559.2 623.2 38658.3 128 FL634090005Moneymarketfundshares 115 39110.5 0.7 127 FL853181005Equityandinvestmentfundshares 61.0 515.6 37856.0 35924.1 126 FL123165005Longterm(mortgages) 454.5 33482.5 1.1 57.0 125 FL814141005Shortterm 527.9 124 FL814135005Loans 53.0 1.6 450.0 123 FL813169105Commercialpaper 49.0 122 FL813163005Corporatebonds 447.1 0.5 121 FL423161705Agency-andGSE-backedsecurities(3) 45.0 403.9 109 120 FL814122005Debtsecurities 17638.6 0.2 19001.9 39.9 119 FL403197033Currencyanddeposits 16502.6 15284.4 0.1 118 FL854194005Liabilities 34.9 15481.1 14362.1 11945.1 0.1 117 FL852100005Totalliabilitiesandnetworth 27.6 10332.0 116 FL853096005Otheraccountsreceivable 115 FL733040005Insurance,pensionandstandardizedguaranteeschemes 114 FL793094005Investmentinsubsidiaries 113 LM803092005U.S.directinvestmentabroad 112 FL813092405Equityingovernment-sponsoredenterprises(3) 111 FL503034005Moneymarketfundshares 110 LM813064105Corporateequities 109 FL813081005Equityandinvestmentfundshares Billions ofdollars S.65.a OtherFinancialBusiness(1) (5) Excludesland.Includescorporateandnoncorporatefinancialbusiness. reflectsdifferencesinsourcedata,timingofrecordedtransactions,andotherstatisticalbetweenthecapitalfinancialaccounts. (4) Thestatisticaldiscrepancyisthedifferencebetweennetlendingorborrowingderivedincapitalaccountandsameconceptfinancialaccount. theFinancingCorporation,andResolutionFundingtheyincludedStudentLoanMarketingAssociationuntilitwasfullyprivatizedin2004:Q4. (3) Government-sponsoredenterprises(GSEs)consistofFederalHomeLoanBanks,FannieMae,FreddieMac,AgriculturalMortgageCorporation,FarmCreditSystem, theyprimarilycovertheiroperatingcoststhroughsales,andkeepacompletesetoffinancialrecords. (2) Consistsofrentalincometenant-occupiedhousingandproprietors’income.Quasi-corporationsareunincorporatedenterprisesthatfunctionasiftheywerecorporations; HoldingCompanies;OtherFinancialBusiness. Government-SponsoredEnterprises;Agency-andGSE-BackedMortgagePools;IssuersofAsset-BackedSecurities;FinanceCompanies;REITs;SecurityBrokersDealers; (1) IncludesthefollowingsectorsasdefinedinFinancialAccountsofUnitedStates:MoneyMarketFunds;MutualClosed-EndExchange-Traded

27. 23. 25. 29. 22. 30. 38. 39. 120 13993.6 13680.1 13306.6 12922.3 118 12993.1 44659.0 12851.2 45621.5 12739.7 41196.0 12874.3 39170.3 39725.6 38026.0 35303.4 32844.2 30410. 87212. 80417. 74818. 134 1788.4 1784.8 1974.0 1810.4 129 7669.3 1824.4 128 3038.3 130 8117.1 1807.2 14669.8 2848.4 6698.4 1804.0 15899.0 2731.3 13615.6 5918.5 1340.4 125 12897.2 2742.4 3087.7 5866.7 124 13150.6 3313.9 2749.1 12333.0 2734.0 5087.7 10363.5 2976.1 2733.4 2653.5 3937.0 8941.4 122 2890.0 2693.2 2727.5 3242.8 4600.7 2962.9 2691.0 2958.3 4553.4 3189.7 3081.4 4520.4 3295.6 3507.6 4490.2 3702.0 3249.5 4746.8 3439.0 4715.8 4825.8 4883.1 116 1453.8 1476.9 1526.2 114 1552.9 4328.0 1599.2 4263.6 1665.4 4385.6 1543.8 4112.1 1490.4 4094.8 110 12565.5 3918.9 13887.2 3877.3 11380.5 10601.6 3345.0 10726.5 9878.2 7498.4 6463.7 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 3. 2. 100-1. 520-9. 17. 781136 -768.1 -1279.5 -690.2 -512.0 -615.1 -170.0 620.7 638.3 126 226.2 242.0 123 236.5 302.9 235.4 283.6 231.4 290.1 214.3 287.6 194.4 322.3 189.5 361.7 378.5 432.0 111 234.7 227.2 219.8 114.6 131.4 114.9 122.2 119.4 261. 069185817876119 7.6 7.8 8.1 8.5 9.1 10.6 13.7 12.6 . 257-7. 580-4. 562-0. 366135 -366.6 -306.3 -556.2 -545.2 -508.0 -473.5 -275.7 3.2 Z.1, June11,2020 175

Integrated Accounts Integrated Accounts 5 F33983 qiyi nentoa raiain ...... 55 1.3 53 56 1.3 0.0 1.5 57 0.0 1.5 0.0 2.0 0.0 2.0 0.0 2.2 0.0 2.2 0.0 2.3 46 0.0 0.0 2.3 0.0 2.2 0.0 0.0 0.5 0.0 2.4 -1.8 0.0 -1.0 42 0.0 2.6 173.5 -3.4 0.0 3.1 0.0 -170.2 0.5 0.0 65.7 110.4 0.0 60.3 35 -31.1 57 FA313094303 EquityinvestmentunderPublic-PrivateInv. Program 254.1 69.6 56 FA313092403 Equityingovernment-sponsoredenterprises (2) -118.1 55 FA313092803Equityininternational organizations 162.3 54 FA313064105Corporateequities 6.7 53 FA313081115Equityandinvestment fundshares 211.3 52 FA313065005Longterm(mortgages) -257.6 235.6 51 FA313069005Otherloansandadvances 34 50 FA313066220Consumercredit -1065.8 173.2 32 49 FA314041005Shortterm 31 -534.0 -0.9 48 FA314023005Loans 217.4 286.1 -716.0 28 47 FA313063763Corporateandforeignbonds -2.2 117.4 277.1 52.7 46 FA313061703Agency-andGSE-backedsecurities -584.6 45 FA314022005Debtsecurities -150.2 271.8 -653.7 -8.6 -188.2 44 FA313091105Nonofficialforeigncurrencies -697.3 271.4 53.8 43 FA313030003Timeandsavingsdeposits -30.8 42 FA313020005Currencyandtransferabledeposits -1187.3 270.2 41 FA313011405ReservepositioninIMF(net) 26 51.4 -1395.6 33 -2.6 40 FA313011505Officialforeigncurrencies -1062.4 265.9 -1065.8 39 FA314000005Currencyanddeposits -536.5 58.4 -534.0 -2.5 261.6 38 FA313011303SDRholdings -730.8 23 -716.0 37 FA313011205Monetarygold 58.1 254.9 47.2 -2.0 36 FA313011105MonetarygoldandSDRs 24 -621.4 21 -584.6 22 1056.9 84.9 86.0 -662.7 35 FA314090005Netacquisitionoffinancialassets 267.9 -653.7 -0.9 641.8 992.6 -696.0 113.8 -697.3 84.6 34 FA315000905Netlending(+)orborrowing(-)(line33) 291.5 15 612.4 968.6 -1163.6 -1187.3 8.3 20 Financialaccount 386.2 79.6 -1355.7 611.6 956.3 -1395.6 2204.2 346.9 585.8 6.1 2109.6 76.1 951.2 33 FA315000905Netlending(+)orborrowing(-),capitalaccount(lines26-29) 319.0 2041.9 547.8 956.9 87.3 32 FA315420003Acquisitionofnonproducednonfinancialassets 5.0 1987.9 -79.4 16 31 FA316300001Less:Consumptionoffixedcapital 504.0 999.3 30 FA315019001producednonfinancialassets) 540.7 1900.6 69.3 -238.7 6.7 Grossfixedcapitalformation(acquisitionof 14 499.7 18 1003.3 1840.4 29 FA315050905Capitalformation,net 475.9 79.0 17 56.1 1795.3 530.1 1799.8 -327.5 10.3 28 FA315440005Less:Capitaltransferspaid(net) 454.1 1890.5 10 103.7 1796.5 27 FA316006085Netsaving 67.1 6 -269.0 160.8 1883.0 26 FA316006385Netsavinglesscapitaltransfers 429.3 9.3 106.3 156.0 -242.5 1882.7 128.7 4 Capitalaccount 439.1 126.4 -189.6 10.2 148.6 1763.8 513.5 136.4 416.3 -195.8 1619.4 137.6 145.1 25 FA316006085Equals:Netsaving 2 9.9 492.7 140.3 422.6 8 1457.8 -117.0 210.9 286.1 140.2 24 FA316901001Less:Finalconsumptionexpenditures 481.4 -327.5 1369.8 136.3 425.4 -231.7 23 FA316012005Equals:Disposableincome,net 109.5 277.1 135.9 -269.0 470.6 -252.2 125.5 22 FA316403001Less:Othercurrenttransfers(paid) 94.2 271.8 134.7 -242.5 21 FA316403105Plus:Othercurrenttransfers(received) 460.0 115.2 20 FA316404001Less:Socialcontributions(paid) -189.6 271.4 137.5 19 FA316601001Plus:Socialbenefits(received) 455.1 108.6 18 FA316220001Plus:Currenttaxesonincome,wealth,etc.(received) -195.8 270.2 136.5 17 FA316140005Netnationalincome/Balanceofprimaryincomes,net 465.2 -117.0 265.9 16 FA316130001Less:Usesofpropertyincome(interestpaid) 468.2 -231.7 15 FA316112101Rentsonlandandnaturalresources 261.6 14 FA316121105Distributedincomeofcorporations(dividends) -252.2 13 FA316130101Interest 254.9 12 FA316150105Propertyincome(received) 11 FA316402015Subsidies(paid) 10 FA316240001Taxesonproductionandimports,receivable 9FA316402101Operatingsurplus,net 8FA316140005Netnationalincome/Balanceofprimaryincomes,net 7FA316402101Operatingsurplus,net 6FA316401005Employers’socialcontributions 5FA316020001Wagesandsalaries 4FA316025001Compensationofemployees(paid) 3FA316902605Equals:Netvalueadded 2FA316300001Less:Consumptionoffixedcapital 1FA316902505Grossvalueadded Currentaccount Billions ofdollars S.7.a FederalGovernment(1) 176

Z.1, June11,2020 14. 17. 679-0. 501-7. 747-09827 -1009.8 -724.7 -677.0 -570.1 25 -1009.8 -604.3 -724.7 -637.9 -677.0 -1078.6 -570.1 -1242.0 -604.3 -637.9 -1078.6 -1242.0 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 182-13-. 00-. . . . 45 0.0 0.0 0.0 -0.0 39 178.5 -0.0 -171.6 -0.1 67.0 103.5 -31.3 57.2 -118.2 65.8 11.1 -239.9 3. 2. 1. 1. 0. 969. 0750 49 90.7 93.5 48 96.3 96.9 99.0 99.6 99.2 99.9 103.4 103.0 105.5 110.7 104.8 112.8 113.3 114.5 120.5 127.5 124.4 130.1 131.0 131.7 135.7 139.0 30 290.4 276.8 265.5 265.3 263.8 269.6 287.3 295.7 19 1339.4 1283.8 1224.9 12 1190.8 118.6 1140.1 137.8 1091.8 938.0 138.0 903.2 159.5 5 357.4 171.7 3 243.1 344.1 511.0 141.1 336.3 493.6 1 130.4 330.5 797.1 479.9 324.0 467.1 770.7 320.4 452.9 751.6 327.6 445.1 738.5 331.7 457.4 723.1 461.9 711.0 719.0 716.8 5. 5. 5. 5. 5. 6. 6. 6. 11 -63.8 -60.6 -61.3 -56.7 -57.6 -59.2 -57.6 -59.5 03-32-. 16-. 01-. . 54 4.0 -0.1 -0.1 -0.0 -1.6 -4.8 41 4.8 -13.2 40.3 -1.8 1.5 -6.5 -3.9 -3.4 4.0 18.2 29 3.4 -2.5 -14.9 -36.9 -9.0 1.3 23.7 39.8 13 31.3 28.1 26.7 26.4 23.8 22.9 21.4 26.3 01-. 01-. 0000000047 0.0 0.0 43 0.1 40 0.0 0.0 0.4 -0.0 38 0.0 0.2 -0.2 36 -0.0 0.2 0.0 0.1 -0.5 -0.1 0.1 0.1 0.7 0.7 -0.2 0.7 0.1 -0.5 0.0 -0.1 0.0 0.2 0.2 0.0 0.0 -0.3 0.2 0.0 0.0 -0.2 0.0 0.0 -1.8 -1.8 9 -2.5 7 1.0 -2.5 -1.6 1.0 -3.5 -1.6 -7.1 -3.5 -10.1 -7.1 -7.8 -10.1 -6.3 -7.8 -6.3 . . . . 0732023452 51 3.4 2.8 0.2 2.8 3.2 0.2 -0.7 44 2.1 0.0 1.7 2.0 0.0 4.0 7.2 0.0 37 1.6 2.6 0.0 0.0 3.3 4.8 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

3 F32905 hnei e ot lns2+37+2 18. 18. 588-2. 443-8. 513-7. 93 -872.5 -571.3 90 92 0.0 -581.5 89.4 102 FL313011303SDRholdings -494.3 101 FL313011205Monetarygold 0.0 91.7 100 FL313011105Monetarygoldand SDRs -526.7 -588.8 99 FL314090005Financialassets 0.0 68.4 -1087.7 98 LM315013765Intellectualpropertyproducts 8.9 -1285.6 0.0 97 LM315013265Equipment 96 LM315015605Structures 95 LM312010095Nonfinancialassets(4) 48.5 0.0 94 FL312000095Totalassets 74.2 0.0 Balancesheetaccount(endofperiod) 81 35.0 -39.2 -0.0 93 FC312090095Changeinnetworth(lines29+33+78+92) 76 32.8 -59.4 1.6 0.9 Changesinbalancesheetaccount -42.1 3.2 92 FR318200005Changesinnetworthduetonominalholdinggains/losses -62.1 91 FR313111303Liabilities(SDRallocations) 5.8 -61.9 72 90 FR313094303EquityinvestmentunderPublic-PrivateInv.Program -50.0 -41.9 3.5 89 FR313064105Corporateequities 88 FR314000005Currencyanddeposits 8.1 -59.5 87 FR313011105MonetarygoldandSDRs 3.0 86 FR318080005Financialassets -45.8 -5.6 85 FR315013765Intellectualpropertyproducts 1.3 84 FR315013265Equipment 77 83 FR315015605Structures 8.1 -1026.7 82 FR312010095Nonfinancialassets -8.3 -474.5 69 18.1 Revaluationaccount -35.9 -673.9 13.6 -11.7 -522.5 17.5 81 FU317005045Less:Statisticaldiscrepancy(lines33-77)(3) -591.8 80 FV318090085Othervolumechanges 46.4 7.4 79 FV312010095Disasterlosses -655.4 78 FV318090185Totalothervolumechanges 18.3 -1127.7 15.4 Otherchangesinvolumeaccount -1349.8 29.2 77 FA315000005Netlending(+)orborrowing(-),financialaccount(lines35-62) Addendum: 0.7 76 FA313193005Other(miscellaneousliabilities) 60.0 75 FA313170005Tradepayables 74 FA713014003SDRcertificates 73 FA313196005Otheraccountspayable 38.1 72 FA343073045Claimsofpensionfundonsponsor 71 FA313195105RetireeHealthCareFunds 70 FA313140003Insurancereserves 69 FA313152005Insurance,pensionandstandardizedguaranteeschemes 68 FA314123005Loans 67 FA313161705Federalagencysecurities 66 FA313161105Treasurysecurities 65 FA314122005Debtsecurities 64 FA314100005Currencyanddeposits 63 FA313111303SDRallocations 62 FA314190005Netincurrenceofliabilities 61 FA313093003Other(miscellaneousassets) 60 FA313078000Taxesreceivable 59 FA313070000Tradereceivables 58 FA313096005Otheraccountsreceivable Billions ofdollars S.7.a FederalGovernment(1)

49712. 72718. 12823. 26729. 99 2592.5 2286.7 96 2338.3 95 1628.4 2132.8 3503.8 1582.1 94 1881.4 3405.6 6096.3 1538.1 1732.7 3315.4 5692.4 1506.7 1529.8 3252.7 5653.7 1504.7 1429.7 3248.7 5385.5 1483.1 3204.8 5130.1 1445.7 3126.7 4937.5 1414.0 3061.3 4656.5 4491.0 66 65 1411.2 1409.8 447.0 447.0 842.8 842.7 724.4 62 724.6 1280.7 736.0 735.9 636.9 857.7 857.3 885.2 1181.0 1180.6 758.0 1137.6 1138.7 765.1 872.8 1245.1 1199.6 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 1. 2. 3. 4. 4. 5. 6. 9. 97 98 795.4 1080.0 1055.9 767.6 1020.8 756.5 998.7 747.4 997.2 746.8 985.4 736.2 954.4 726.6 934.2 713.1 3. 470000000000-. 89 -4.0 0.0 86 -5.7 0.0 4.0 0.0 -2.1 0.0 -3.3 0.0 -5.0 -4.7 0.1 -32.4 -4.7 -32.1 505. 525. 974. 195. 102 50.8 100 50.8 51.9 51.9 48.9 48.9 49.7 49.7 51.9 51.9 55.2 55.2 55.1 55.1 55.0 55.0 84 14.3 83 3.9 82 59.3 93.9 6.9 55.8 90.5 43.2 -1.2 69.0 12.3 9.0 10.0 78 31.2 5.6 50.3 100.6 45.7 -126.5 74.2 0.2 80.9 34.9 39.7 10.8 118.3 48.6 64.8 73 87.5 58.5 33.0 71 20.7 13.9 40.9 35.2 9.6 37.4 18.1 12.9 0.1 7.4 15.2 10.4 4.5 12.2 22.8 13.3 60 18.5 -50.8 58 -26.8 223.8 23.6 233.3 38.6 0.2 25.1 -4.1 0.9 24.7 31.6 20.8 20.0 23.8 27.3 020101-. 22-. . 1291 -1.2 2.8 88 87 -0.4 -1.2 -1.5 1.1 2.9 -2.2 -0.6 -1.5 -3.2 -1.1 -2.3 0.1 -1.7 -3.3 0.1 0.0 0.1 80 -0.2 61.4 0.0 0.1 -185.9 -0.5 -0.1 38.9 56.2 25.7 -8.9 -18.7 -8.5 61 13.7 9.4 11.2 12.2 10.2 3.7 -3.5 -1.3 ...... 101 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 85 20.3 30.9 18.9 79 -1.1 0.0 10.1 0.0 23.0 0.0 4.7 0.0 5.5 74 0.0 0.0 75 57.0 0.0 0.0 17.5 70 0.2 0.0 0.0 29.4 -0.2 0.0 0.0 68 14.5 -151.7 67 0.1 0.0 -2.9 -1.5 151.7 64 0.0 -0.1 13.9 0.0 -0.1 63 0.0 0.0 0.8 12.8 0.0 -0.1 0.0 0.0 9.2 0.0 0.2 0.2 0.0 0.0 0.0 0.0 59 0.3 0.0 -0.1 10.4 -0.0 0.0 -0.4 1.3 0.0 0.1 -0.3 -0.4 0.0 0.0 3.8 -0.4 1.1 0.0 0.0 12.7 0.0 -5.2 0.0 0.0 3.3 2.6 4.8 Z.1, June11,2020 177

Integrated Accounts Integrated Accounts 4 L1131 Ohr(iclaeu iblte)32282318120601-. 141 -0.2 0.1 0.6 1.2 1.8 2.3 137 1624.4 2.8 1675.7 1693.7 3.2 1726.9 1720.8 1741.7 1754.8 134 1708.3 1976.7 2013.9 126 2022.5 6096.3 142 FL312090095Networth 2042.7 5692.4 141 FL313193013Other(miscellaneousliabilities) 2029.4 5653.7 140 FL313170005Tradepayables 120 2039.1 139 FL713014003SDRcertificates 119 0.0 121 5385.5 69.4 138 FL313196005Otheraccountspayable 0.0 2039.8 117 5130.1 69.4 137 FL343073045Claimsofpensionfundonsponsor 1979.7 0.0 68.1 4937.5 0.0 136 FL313195105RetireeHealthCareFunds 135 FL313140003Insurancereserves 68.1 4656.5 66.6 0.0 134 FL313152005Insurance,pensionandstandardizedguaranteeschemes 4491.0 0.0 66.6 110 133 FL314123005Loans 64.6 0.0 0.0 0.0 64.6 132 FL313161705Federalagencysecurities 62.4 131 FL313161105Treasurysecurities 0.0 0.0 130 FL314122005Debtsecurities 62.4 0.0 60.0 129 FL314100005Currencyanddeposits 0.0 0.0 60.0 0.0 57.8 128 FL313111303SDRallocations 0.0 59.6 0.0 55.4 106 127 FL314190005Liabilities 1.8 405.9 60.6 0.0 126 FL312000095Totalliabilitiesandnetworth 0.0 232.0 5.2 125 FL313093003Other(miscellaneousassets) 404.0 0.0 124 FL313078000Taxesreceivable 123 FL313070000Tradereceivables 338.1 122 FL313096005Otheraccountsreceivable 0.0 226.3 121 LM313094303EquityinvestmentunderPublic-PrivateInv.Program 120 FL313092403Equityingovernment-sponsoredenterprises(2) 31.1 163.0 119 FL313092803Equityininternationalorganizations 118 LM313064105Corporateequities 92.2 117 FL313081115Equityandinvestmentfundshares 116 FL313065005Longterm(mortgages) 84.6 115 FL313069005Otherloansandadvances 114 FL313066220Consumercredit 113 FL314041005Shortterm 112 FL314023005Loans 111 FL313063763Corporateandforeignbonds 110 FL313061703Agency-andGSE-backedsecurities 109 FL314022005Debtsecurities 108 FL313091105Nonofficialforeigncurrencies 107 FL313030003Timeandsavingsdeposits 106 FL313020005Currencyandtransferabledeposits 105 FL313011405ReservepositioninIMF(net) 104 FL313011505Officialforeigncurrencies 103 FL314000005Currencyanddeposits Billions ofdollars S.7.a FederalGovernment(1) 178 (4) Excludeslandandnonproducednonfinancialassets. reflectsdifferencesinsourcedata,timingofrecordedtransactions,andotherstatistical betweenthecapitalandfinancialaccounts. (3) Thestatisticaldiscrepancyisthedifferencebetweennetlendingorborrowingderivedin capitalaccountandthesameconceptderivedinfinancialaccount.Thediscrepancy theFinancingCorporation,andResolutionFundingtheyincludedStudent LoanMarketingAssociationuntilitwasfullyprivatizedinthe2004:Q4. (2) Government-sponsoredenterprises(GSEs)consistofFederalHomeLoanBanks,FannieMae, FreddieMac,FederalAgriculturalMortgageCorporation,FarmCreditSystem, (1) Thefederalgovernmentsectorexcludesemployeeretirementfunds.

Z.1, June11,2020 14. 22. 38. 41. 54. 58. 63. 74. 131 17842.1 130 17865.0 16430.9 16455.3 15983.8 16008.3 15141.1 15165.6 14416.7 14441.1 13680.6 127 13705.1 12822.9 20286.4 12847.8 11642.0 19010.0 11667.3 18400.1 17550.4 16800.7 16081.4 15211.6 13958.4 96. 1551-14. 1606-26. 1764-31. 1101142 -14190.1 -13317.7 -12746.4 -12164.9 -11670.6 -11143.9 -10555.1 -9467.4 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 2. 3. 4. 4. 6. 9. 0. 6. 140 365.2 138 370.2 308.2 313.5 290.7 136 301.0 261.4 296.5 287.1 267.7 246.8 277.6 249.7 253.8 264.7 257.2 235.8 257.3 223.0 243.8 246.9 231.4 234.8 221.4 124 206.7 122 200.1 422.1 194.1 391.5 174.3 376.0 154.8 341.2 116 178.5 123.2 296.9 115 203.4 168.5 315.5 119.8 114 200.6 1236.3 160.3 298.6 119.7 113 1145.6 197.8 1439.7 112 291.3 116.5 1049.3 1562.9 1346.2 197.6 117.2 949.7 1466.0 1247.1 195.5 1366.8 1147.3 115.5 846.2 193.5 1263.8 1041.8 111.5 735.5 1159.0 929.0 186.3 109.9 622.2 103 1044.5 183.7 808.6 453.7 494.8 920.1 678.5 275.6 788.4 446.1 379.7 277.2 221.8 155.9 144.8 005. 055. 115. 115. 135 51.3 51.1 132 51.3 22.9 51.1 24.4 129 25.3 51.3 24.5 128 49.1 25.3 50.5 24.6 50.3 25.3 50.3 24.4 47.5 25.3 50.0 24.5 125 123 48.9 140.0 25.3 75.4 24.9 51.2 126.4 25.6 65.0 25.3 117.0 54.4 25.9 64.9 118 105.8 33.2 54.3 25.9 61.2 93.6 33.2 54.2 48.4 83.4 33.3 53.6 79.8 33.4 109 0.5 50.3 83.2 33.4 47.7 0.5 35.1 0.5 39.9 105 22.3 104 0.5 57.8 20.8 17.9 0.5 21.2 18.7 19.3 0.6 17.7 19.5 0.6 25.3 20.7 31.9 31.0 23.6 34.4 24.7 30.3 25.6 ...... 139 5.2 5.2 5.2 133 5.2 0.0 5.2 151.7 0.0 5.2 0.0 5.2 0.0 5.2 0.0 0.0 0.0 111 0.5 0.5 108 2.6 107 2.0 0.5 2.6 1.9 0.5 2.6 1.5 0.5 2.6 1.8 0.6 2.6 2.2 0.6 2.6 1.5 0.8 2.6 2.0 2.6 1.7

8 F23805 qiyadivsmn udsae 18-. 30-. 2432-. 4348 -4.3 -1.9 3.2 -2.4 -3.9 42 -35.8 -3.0 37 3.6 -7.6 -4.4 25.9 -2.5 -1.8 -9.2 35 5.9 -117.5 -37.6 55 FA213093003 Other(miscellaneousassets) -9.7 -8.6 54 FA213078005Taxesreceivable 15.8 53 FA213070003Tradereceivables 16.8 171.6 52 FA213096005Otheraccountsreceivable -42.9 55.9 6.9 51 FA213064203Mutualfundshares -30.9 34 50 FA213064103Corporateequities -1.2 49 FA213034003Moneymarketfund shares -9.0 -297.6 48 FA213081005Equityandinvestment fundshares 105.5 -301.6 32 17.0 31 -300.8 47 FA213065005Longterm(mortgages) -25.1 14.5 279.6 46 FA212051003Shortterm -267.7 45 FA214035005Loans -72.9 266.1 28 13.7 -270.4 -73.3 44 FA213063003Corporateandforeignbonds 256.6 -296.1 13.3 43 FA213062003Municipalsecurities -321.1 -72.2 251.4 42 FA213061703Agency-andGSE-backedsecurities(2) 12.1 41 FA213061105Treasurysecurities -331.2 246.3 -72.4 26 40 FA213069103Openmarketpaper 33 39 FA214022005Debtsecurities 10.6 -165.9 238.8 -69.1 -297.6 -175.9 -301.6 232.0 38 FA213030000Timeandsavingsdeposits 10.4 -70.6 -174.4 37 FA213020005Currencyandtransferabledeposits -300.8 222.2 36 FA214000005Currencyanddeposits -71.6 10.9 -151.2 -267.7 -167.4 -74.4 35 FA214090005Netacquisitionoffinancialassets -270.4 11.5 -193.8 -296.1 -74.1 34 FA215000905Netlending(+)orborrowing(-)(line33) 24 -208.5 23 -321.1 1847.4 Financialaccount -201.0 1608.2 -331.2 21 1764.6 1516.6 716.6 1702.8 1456.1 33 FA215000905Netlending(+)orborrowing(-),capitalaccount(lines26-29) 685.6 1660.0 15 1439.7 1614.2 32 FA215420003Acquisitionofnonproducednonfinancialassets 11.7 687.4 1376.2 14 31 FA216300001Less:Consumptionoffixedcapital 1575.1 6.1 1309.7 673.6 30 FA215019001producednonfinancialassets) 11.4 1516.7 1233.9 Grossfixedcapitalformation(acquisitionof 18 616.4 1508.5 16 5.9 29 FA215050905Capitalformation,net 1233.4 11.1 515.8 277.5 560.8 28 FA215440005Less:Capitaltransferspaid(net) 17 487.2 11.6 5.6 285.8 550.1 27 FA216006005Netsaving 1090.3 463.0 26 FA216006305Netsavinglesscapitaltransfers 12.7 281.7 576.5 1035.2 5.6 463.3 979.1 Capitalaccount 269.7 6 12.5 437.4 5.3 949.0 263.2 453.6 10 12.5 427.4 25 FA216006005Equals:Netsaving 921.3 271.1 441.6 1281.0 4.7 393.8 12.2 868.2 1235.8 24 FA216901001Less:Finalconsumptionexpenditures 281.1 435.9 8 2 1176.3 4 371.3 4.1 813.6 265.7 23 FA216012005Equals:Disposableincome,net 432.3 1090.3 1136.8 279.6 1498.7 798.5 1035.2 418.1 1104.5 22 FA216403001Less:Othercurrenttransfers(paid) 3.4 1445.5 266.1 979.1 21 FA216403105Plus:Othercurrenttransfers(received) 1063.2 1407.6 405.6 20 FA216404001Less:Socialcontributions(paid) 256.6 1021.0 949.0 1377.4 19 FA216601001Plus:Socialbenefits(received) 368.0 995.1 251.4 1331.0 18 FA216220005Plus:Currenttaxesonincome,wealth,etc.(received) 921.3 370.7 17 FA216140005Netnationalincome/Balanceofprimaryincomes,net 1293.2 246.3 868.2 1238.7 16 FA216130001Less:Usesofpropertyincome(interestpaid) 238.8 813.6 1233.8 15 FA216112101Rentsonlandandnaturalresources 14 FA216121101Distributedincomeofcorporations(dividends) 232.0 798.5 13 FA216130101Interest 222.2 12 FA216150105Propertyincome(received) 11 FA216402015Subsidies(paid) 10 FA216240001Taxesonproductionandimports,receivable 9FA216402101Operatingsurplus,net 8FA216140005Netnationalincome/Balanceofprimaryincomes,net 7FA216402101Operatingsurplus,net 6FA216401005Employers’socialcontributions 5FA216020001Wagesandsalaries 4FA216025001Compensationofemployees(paid) 3FA216902605Equals:Netvalueadded 2FA216300001Less:Consumptionoffixedcapital 1FA216902505Grossvalueadded Currentaccount Billions ofdollars S.8.a StateandLocalGovernments(1)

20713. 27412. 35410. 42019. 3 1494.8 1442.0 1 1406.6 1375.4 1774.3 1327.1 1708.1 1287.4 1663.2 1231.0 1626.8 1220.7 1573.5 1526.1 1463.0 1443.0 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 177-876. 4. 28159-. 19739 -109.7 -7.3 105.9 12.8 -42.9 67.4 -28.7 -107.7 27 -239.2 -248.1 -246.8 -220.3 25 -238.0 -239.2 -265.4 -248.1 -282.8 -246.8 -275.1 -220.3 -238.0 -265.4 -282.8 -275.1 4. 3. 3. 3. 5. 6. 7. 9. 30 396.8 29 378.0 131.7 369.7 125.7 355.8 126.4 338.8 116.5 330.8 103.0 333.7 102.4 341.0 112.7 130.2 20 736.6 712.2 693.6 665.5 617.5 564.4 540.8 530.7 5 1045.2 1003.9 971.7 945.2 912.9 887.6 870.7 863.2 1. 1. 52-. 420509-. 40 41 -5.7 -64.4 -10.2 0.9 72.4 0.5 11.0 -4.2 8.0 -8.8 35.7 -5.2 35.6 -10.6 -59.1 -12.4 9 -4.0 7 -3.4 -4.0 -1.0 -3.4 -2.0 -1.0 -3.9 -2.0 -5.9 -3.9 -7.6 -5.9 -13.1 -7.6 -13.1 801. 041. 42821. . 38 7.9 36 0.3 14.1 11.7 8.2 14.1 14.2 5.5 11.6 28.4 20.4 27.3 19.0 9.9 18.0 35.0 19 22.2 20.8 20.1 13 19.2 12 73.6 91.4 18.7 72.0 89.3 17.7 69.3 86.1 17.2 67.3 84.5 17.9 66.4 84.3 65.2 82.4 65.3 81.8 67.1 82.7 01-30-72-. 0407-87-. 55 -7.3 -28.7 50 0.7 -3.4 20.4 -3.4 46 -4.9 -12.1 -3.4 45 1.8 -17.2 -30.8 -3.4 43 44 -13.0 5.0 -0.8 7.4 -2.9 -3.4 -0.1 -0.2 19.4 -1.3 6.3 -3.4 1.0 13.4 6.1 2.6 -3.4 4.1 0.4 14.8 -3.4 7.7 18.2 -3.4 -1.1 -0.3 -1.9 19.7 1.6 -4.9 -4.3 -10.0 -0.8 -4.4 -0.8 11 -0.6 -0.6 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 . . . . . 08526654 6.6 53 27.8 51 5.2 52 1.2 6.2 27.0 10.8 49 1.2 -17.3 17.5 -2.1 5.5 29.0 0.6 1.2 47 0.3 7.1 26.5 -18.7 11.0 1.2 5.4 3.2 3.3 13.2 9.4 1.2 -0.2 -4.5 12.0 7.5 5.5 1.2 -1.7 0.0 7.1 0.4 5.5 -0.8 1.2 5.9 1.4 -2.2 1.2 10.5 0.4 -1.6 0.6 22 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Z.1, June11,2020 179

Integrated Accounts Integrated Accounts 4 F23805 qiyadivsmn udsae 5. 6. 9. 0. 0. 2. 5. 3. 94 233.4 254.0 221.5 202.5 208.5 88 197.8 449.7 164.3 482.8 151.7 83 462.1 132.9 445.8 140.6 101 FL213093003 Other(miscellaneousassets) 478.4 100 FL213078005Taxesreceivable 143.0 99 FL213070003Tradereceivables 504.2 98 FL213096005Otheraccountsreceivable 137.1 509.9 145.7 97 LM213064203Mutualfundshares 546.2 96 LM213064103Corporateequities 128.9 95 FL213034003Moneymarketfund shares 94 FL213081005Equityandinvestment fundshares 122.1 93 FL213065005Longterm(mortgages) 125.8 92 FL212051003Shortterm 91 FL214035005Loans 90 FL213063003Corporateandforeignbonds 75 89 FL213062003Municipalsecurities 51.6 88 FL213061703Agency-andGSE-backedsecurities(2) 87 FL213061105Treasurysecurities 659.1 86 FL213069103Openmarketpaper 85 FL214022005Debtsecurities 270.8 -180.2 84 FL213030000Timeandsavingsdeposits 83 FL213020005Currencyandtransferabledeposits 105.7 82 FL214000005Currencyanddeposits 72 73 -101.7 74 81 FL214090005Financialassets -16.4 218.4 429.8 244.8 -463.1 34.4 80 LM215013765Intellectualpropertyproducts 199.1 839.5 79 LM215013265Equipment -152.6 15.8 78 LM215015605Structures 380.8 109.9 77 LM212010095Nonfinancialassets(4) -27.8 -3.6 -157.7 76 FL212000095Totalassets -498.7 331.8 67 14.6 Balancesheetaccount(endofperiod) -279.9 -32.1 785.7 36.5 42.3 -35.9 527.5 75 FC212090095Changeinnetworth(lines29+33+64+74) 17.1 346.6 -148.3 Changesinbalancesheetaccount -97.7 -2.2 -55.7 62 74 FR218200005Changesinnetworthduetonominalholdinggains/losses 48.1 -70.2 73 FR223073045Liabilities(claimofpensionfundsonsponsor) 45.3 -49.5 72 FR213081005Financialassets(equityandinvestmentfundshares) 43.2 47.0 71 FR215013765Intellectualpropertyproducts 41.3 70 FR215013265Equipment 69 FR215015605Structures 63 39.8 68 FR212010095Nonfinancialassets -265.4 -265.6 38.8 Revaluationaccount 61 -152.5 149.8 38.3 -170.0 210.6 67 FU217005045Less:Statisticaldiscrepancy(lines33-63)(3) -214.6 66 FV218090085Othervolumechanges 38.3 246.7 65 FV212010095Disasterlosses -226.0 64 FV218090185Totalothervolumechanges 172.7 -271.6 Otherchangesinvolumeaccount 210.8 -378.2 345.4 63 FA215000005Netlending(+)orborrowing(-),financialaccount(lines35-56) 205.9 Addendum: 304.4 62 FA213170003Otheraccountspayable(tradepayables) (claimofpensionfundsonsponsor) 61 FA223073045Insurance,pensionandstandardizedguaranteeschemes 60 FA213169203Loans(shortterm) 59 FA213162200Other 58 FA213162400Shortterm 57 FA213162005Debtsecurities(municipals) 56 FA214190005Netincurrenceofliabilities Billions ofdollars S.8.a StateandLocalGovernments(1) 180

Z.1, June11,2020 11. 25. 26. 26. 39. 38. 48. 46. 76 14564.5 14085.9 13585.9 13091.2 12865.6 12567.9 12151.1 11811.6 45011. 43910. 41619. 53910. 85 1407.5 1503.9 1490.1 1401.6 81 1404.3 3010.5 1413.9 3128.5 1412.5 3080.2 1435.0 2911.0 78 2875.4 11150.1 77 10570.0 2829.5 11553.9 10130.0 10957.4 2755.1 9813.3 10505.7 2740.4 9626.6 10180.3 9990.2 9380.1 9738.4 9043.9 9396.0 8723.5 9071.2 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 1. 0. 327. 879. 076. 101 63.4 70.7 100 99 163.2 99.4 98 235.3 153.7 461.9 207.5 98.7 145.6 432.0 201.3 78.3 135.1 446.2 183.8 130.0 83.2 417.6 93 183.2 122.9 92 391.5 226.9 100.5 172.1 91 144.7 119.7 378.3 245.8 113.5 371.5 162.7 156.7 90 112.4 382.9 243.0 402.6 86 157.2 183.0 154.9 383.0 68.6 231.4 397.9 198.3 87 147.5 225.1 691.3 378.9 74.3 196.0 141.3 224.5 732.5 366.4 186.7 73.5 138.6 84 215.5 742.7 363.1 181.6 403.4 130.9 73.0 82 219.6 681.1 346.3 181.1 395.5 131.2 536.3 77.1 652.5 350.8 173.8 381.3 536.0 628.1 86.0 80 177.2 373.2 524.4 79 139.7 623.6 359.0 91.2 264.2 510.2 132.3 595.5 347.4 255.0 504.7 101.8 126.5 327.0 249.1 476.3 120.9 294.2 246.1 449.0 118.1 245.6 420.0 114.6 243.7 109.7 242.4 106.1 241.7 69 68 471.7 479.6 337.7 341.9 210.0 212.4 86.1 66 85.7 -59.3 156.1 159.4 246.7 -38.3 250.4 227.0 -83.9 230.5 385.2 -98.9 391.1 -114.4 -763.7 68.6 100.5 56 147.9 255.9 324.1 225.8 213.5 331.4 246.5 305.3 1. . 1. 64-. 27483058 59 3.0 -54.1 57 4.8 -51.0 -5.2 -0.4 36.1 -2.7 33.3 17.5 -5.9 11.5 -31.1 -6.4 -37.5 -42.1 -11.2 -53.3 -2.1 4.0 1.9 -27.6 -10.6 -38.3 585. 166. 486. 077. 97 75.9 95 19.8 80.7 96 137.7 21.9 69.5 151.5 21.6 64.8 130.5 16.2 65.3 121.5 89 14.7 126.9 16.4 61.6 118.2 16.0 18.1 52.3 93.2 15.8 18.9 45.8 84.8 15.0 21.1 14.6 14.6 14.0 14.3 64 -27.3 -4.5 64.4 -1.1 -58.7 -693.5 110.7 53.5 . . . . 1017202771 70 2.7 5.1 2.0 2.2 1.7 0.7 -1.0 0.6 65 0.3 -0.2 3.1 1.9 -2.1 1.8 1.3 0.0 2.1 1.7 0.0 4.2 0.0 0.0 60 1.1 -7.4 0.4 0.0 0.9 0.3 0.4 0.5 0.4 0.9

0 L1100 Ohracut aal taepybe)77175474284085398593810. 109 1001.8 953.8 908.5 865.3 824.0 104 3059.4 784.2 3110.5 745.4 3110.9 108 (4) Excludeslandandnonproducednonfinancialassets. 3077.6 707.1 4446.2 reflectsdifferencesinsourcedata,timingofrecordedtransactions,andotherstatisticalbetweenthecapitalfinancialaccounts. 3066.0 4017.4 (3) Thestatisticaldiscrepancyisthedifferencebetweennetlendingorborrowingderivedincapitalaccountandsameconceptfinancialaccount. 102 3103.5 4221.7 theFinancingCorporation,andResolutionFundingtheyincludedStudentLoanMarketingAssociationuntilitwasfullyprivatizedin2004:Q4. 14564.5 3156.8 (2) Government-sponsoredenterprises(GSEs)consistofFederalHomeLoanBanks,FannieMae,FreddieMac,AgriculturalMortgageCorporation,FarmCreditSystem, 4075.3 14085.9 (1) Thestateandlocalgovernmentsectorexcludesemployeeretirementfunds. 13585.9 3154.9 3722.7 13091.2 3533.4 12865.6 110 FL212090095Networth 12567.9 3001.0 12151.1 109 FL213170003Otheraccountspayable(tradepayables) 3131.9 11811.6 (claimofpensionfundsonsponsor) 108 FL223073045Insurance,pensionandstandardizedguaranteeschemes 107 FL213169203Loans(shortterm) 106 FL213162200Other 105 FL213162400Shortterm 104 FL213162005Debtsecurities(municipals) 103 FL214190005Liabilities 102 FL212100005Totalliabilitiesandnetworth Billions ofdollars S.8.a StateandLocalGovernments(1)

82553. 10653. 06252. 96163. 110 6037.7 5986.1 5327.0 5056.2 5236.3 5130.6 5232.3 106 4802.5 3021.4 3075.4 3080.6 103 3044.6 8526.8 3027.1 8099.8 3058.2 8258.9 3100.3 8035.0 3102.4 7629.3 7437.3 6918.9 7009.1 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 531. 621. 691. 821. 107 19.3 18.2 105 38.1 17.8 35.0 16.9 30.2 16.6 33.0 16.2 38.9 15.7 45.3 15.3 56.5 52.4 Z.1, June11,2020 181

Integrated Accounts Integrated Accounts 8 F23505 nuac,pninadsadrie urne cee 0640-. . 381. 351. 38 10.9 39 37 9.1 268.4 13.5 291.9 10.4 13.4 52 FA263163005Bonds 486.0 51 FA263169105Commercialpaper 1.2 -3.8 50 FA264122005Debtsecurities 481.5 9.1 2.9 49 FA313091105Nonofficialforeign currencies 212.0 48 FA263191005U.S.privatedeposits 217.3 47 FA263111403Reservepositionin IMF(net) -1.3 -0.4 46 FA263111503Officialforeigncurrencies 211.5 45 FA264100005Currencyanddeposits 4.0 3.7 242.2 44 FA313011303SDRholdings 10.6 1.5 23 43 FA264190005Netincurrenceofliabilities 48.9 9.3 42 FA263070005Otheraccountsreceivable 104.0 41 FA543151905Pensionentitlements -144.0 40 FA543141905Lifeinsurancereserves -59.6 39 FA263076005Insurancereceivablesduefromproperty-casualtyinsurancecompanies 38 FA263052005Insurance,pensionandstandardizedguaranteeschemes -34.6 37 FA263092001ForeigndirectinvestmentintheUnitedStates 268.7 36 FA263064203Mutualfundshares 35 FA263064105Corporateequities -136.2 14 34 FA263034003Moneymarketfundshares 227.8 506.7 33 FA263081005Equityandinvestmentfundshares 476.0 32 FA263069500LoanstoU.S.corporatebusiness 31 FA262051005Securityrepurchases 441.9 30 FA264041005Loans(shortterm) 12 424.5 0.0 29 FA263063005Corporatebonds 376.0 28 FA263062003Municipalsecurities 27 FA263061705Agency-andGSE-backedsecurities(2) 369.4 -0.0 26 FA263061105Treasurysecurities 441.6 25 FA263069103Openmarketpaper 0.0 24 FA264022005Debtsecurities 467.2 13 23 FA264016005NetinterbankitemsduefromU.S.banks 0.0 506.7 22 FA263030005Timedeposits 476.0 21 FA263027003Transferabledeposits -0.0 20 FA263025003Currency 9 441.9 19 FA264000005Currencyanddeposits 509.5 0.0 424.5 18 FA313111303SDRallocations 466.6 17 FA263011205Monetarygold 376.0 -0.1 8 16 FA263011005MonetarygoldandSDRs 441.4 369.4 155.4 -0.0 424.1 15 FA264090005NetacquisitionofU.S.financialassets 441.6 164.0 4 375.6 14 FA265000905Netlending(+)orborrowing(-)(line13) 467.2 142.3 294.5 368.5 Financialaccount 135.8 298.5 448.1 145.8 283.0 465.6 13 FA265000905Netlending(+)orborrowing(-),capitalaccount(lines10-11-12) 131.1 264.7 12 FA265420095Less:Acquisitionofnonproducednonfinancialassets 113.3 254.8 104.1 239.6 11 FA265440005Less:Netcapitaltransfers 225.2 10 FA266000095Netsaving 226.6 Capitalaccount 9FA266000095Equals:Netsaving(currentexternalbalance) 8FA266400201Currenttaxesandtrans.receiptsfromrestofworld(1) 7FA266904001U.S.incomereceiptsfromrestofworld 6FA266903011U.S.exportsofgoodsandservices 5FA266900005Less:ForeignoutlaystoU.S. 4FA266400101Currenttaxesandtrans.paymentstorestofworld 3FA266904101U.S.incomepaymentstorestofworld 2FA266903001U.S.importsofgoodsandservices 1FA266905005ForeignincomefromU.S. Currentaccount Billions ofdollars S.9.a RestoftheWorld 182

Z.1, June11,2020 10780112. 19967879118. 4. 15 749.8 1488.2 759.1 677.8 1149.9 1124.7 880.1 1110.7 6 5 2510.3 3771.8 2356.7 3478.6 2220.6 2 3224.6 2266.8 1 3240.3 3148.5 2371.7 4281.3 3371.1 2932.1 2273.4 3945.2 3228.0 2739.4 2191.3 3665.9 3104.3 2786.6 2103.0 3664.4 2996.3 2879.4 3746.7 2764.2 3596.5 2759.9 3552.4 2682.5 3461.8 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 250-4. 11-1. 258-472563. 48 32.4 45 255.6 37.2 -84.7 253.8 -235.8 -83.3 -117.8 31.1 -242.1 -121.4 -147.4 28.0 -215.0 -143.0 -197.3 29 -20.2 321.5 326.3 334.9 209.6 210.4 -19.7 -111.5 5. 1. 3. 5. 8. 5022314952 114.9 50 121.2 292.3 384.2 65.0 5.8 -85.9 153.9 -31.3 139.8 162.8 112.6 206.1 43 150.2 160.8 426.1 128.2 1145.9 352.8 353.2 909.0 782.0 411.3 33 609.1 31 410.8 -62.9 30 441.5 31.0 -39.4 346.3 130.6 68.7 294.2 64.4 -21.2 366.3 26 15.7 154.6 100.4 114.8 24 450.5 45.1 131.4 308.2 169.9 365.5 40.9 -107.9 0.1 653.7 42.7 -52.2 341.7 132.8 19 314.2 166.7 406.5 165.0 423.2 527.8 202.4 589.7 553.6 -13.1 355.3 495.9 -45.6 203.6 102.5 370.9 -29.9 357.0 10 509.5 466.6 441.4 424.1 375.6 7 368.5 1106.2 957.9 448.1 3 861.7 465.6 838.3 837.7 714.6 853.5 643.5 823.4 613.1 799.7 612.5 789.2 592.7 567.4 552.8 2. 826. . 46-929. . 51 6.3 91.9 -59.2 54.6 8.9 66.3 48.2 -22.0 27 86.6 23.7 79.1 24.8 -8.1 -83.6 -73.6 -41.6 8140-. 38-. . 184847 4.8 -1.8 1.3 -6.5 -3.8 -3.4 4.0 36 18.1 28.7 32.6 35 32 96.4 60.9 23.5 116.9 1.8 99.5 -186.3 40.9 -191.4 -4.3 114.3 -17.0 36.9 -54.9 79.6 31.0 136.9 75.5 -4.2 43.3 22 21 36.6 20 14.2 -52.2 65.3 16.9 33.9 11.9 69.7 70.8 17.8 42.3 -18.6 -5.7 38.4 54.2 16.6 66.3 51.5 13.0 37.7 38.0 11.1 57.1 47.3 26.8 55.0 050403020201000046 0.0 44 0.0 0.2 0.1 0.1 0.2 0.7 0.2 0.0 0.3 0.0 0.4 0.0 -0.5 0.0 -1.8 11 2.8 -9.4 -0.5 -0.4 -0.4 -0.8 6.5 -1.6 . . 00000000000049 0.0 0.0 0.0 0.0 0.0 42 41 32.6 -0.0 11.0 40 46.5 -9.3 0.4 0.0 6.4 2.7 1.2 0.0 10.8 11.0 -2.0 34 12.8 -4.6 17.3 2.8 5.9 6.7 0.1 -0.8 11.7 -4.1 -14.3 1.0 28 7.3 1.5 2.3 -0.5 0.6 0.8 7.1 -0.9 25 -10.8 9.2 7.2 -6.8 22.6 6.5 37.0 4.6 4.3 18 -2.3 17 0.0 16 4.5 0.0 7.7 0.0 0.0 -0.6 0.0 -0.9 0.0 0.0 0.6 0.0 0.1 0.0 0.0 0.0 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

4 F23505 nuac,pninadsadrie urne cee 00-...... 0094 -0.0 96 0.0 1022.7 -808.0 0.0 480.3 0.0 135.5 1415.1 99 FL313111303 SDRallocations 0.0 361.0 98 FL264090005 Totalfinancialassets(4) -455.7 0.0 Financialbalance sheetaccount(endofperiod) 1329.2 -0.0 97 FC262090095Changeinnetworth (lines13+66+96) -0.0 Changesinbalance sheetaccount 96 FR265000005Changesinnetworthduetonominalholdinggains/losses 95 FR263170005Otheraccountspayable 80 -680.5 94 FR263152005Insurance,pensionandstandardizedguaranteeschemes 965.9 93 FR263192005U.S.directinvestmentabroad 369.0 92 FR263164100Corporateequities 91 FR263181105Equityandinvestmentfundshares -207.0 296.5 90 FR263169205Loans(otherloansandadvances) 815.3 89 FR263163005Debtsecurities(corporatebonds) 205.6 88 FR263191103Nonofficialforeigncurrencies 87 FR263191005U.S.privatedeposits -165.7 86 FR263111403ReservepositioninIMF(net) 85 FR263111503Officialforeigncurrencies 84 FR264100005Currencyanddeposits 68 83 FR313011303SDRholdings 183.0 82 FR264194005Liabilities 133.7 81 FR263070005Otheraccountsreceivable 35.5 80 FR263092001ForeigndirectinvestmentintheUnitedStates 100.0 79 FR263064203Mutualfundshares 78 FR263064105Corporateequities 135.2 77 FR263081005Equityandinvestmentfundshares 26.6 76 FR263063005Corporatebonds -27.2 75 FR263061705Agency-andGSE-backedsecurities 74 FR263061105Treasurysecurities 65 63 -34.4 73 FR263069103Openmarketpaper 323.7 27.5 72 FR264022005Debtsecurities 342.3 71 FR264000005Currencyanddeposits 47.4 406.4 70 FR263011005MonetarygoldandSDRs 21.9 324.5 69 FR264090005Financialassets 9.9 240.8 Revaluationaccount 342.7 -5.8 468.8 -1.0 68 FU267005005Less:Statisticaldiscrepancy(lines13-65)(3) 501.6 67 FV268090085Othervolumechanges 66 FV268090185Totalothervolumechanges 4.9 Otherchangesinvolumeaccount -10.7 65 FA265000005Netlending(+)orborrowing(-),financialaccount(lines15-43) Addendum: 64 FA263170005Otheraccountspayable 63 FA263152005Insurance,pensionandstandardizedguaranteeschemes 62 FA263194735Investmentbyholdingcompanies 61 FA263192005U.S.directinvestmentabroad 60 FA313092803U.S.governmentequityinIBRD,etc. 59 FA263164100Corporateequities 58 FA263181105Equityandinvestmentfundshares 57 FA713091103Nonoff.foreigncurrencies(swaplines) 56 FA263168005Depositoryinstitutionloansn.e.c. 55 FA263169005Otherloansandadvances 54 FA262151003Securityrepurchases 53 FA264141005Loans(shortterm) Billions ofdollars S.9.a RestoftheWorld

85. 02. 31. 53. 51. 62. 00. 90. 98 29905.7 30502.0 26725.8 25116.7 25138.2 23012.4 20025.7 18355.2 15. 06617. 456-5. 6. 967-63491 -2623.4 2926.7 269.8 -751.7 -415.6 1572.9 1086.6 -1357.8 82 -2726.2 3063.1 317.7 -860.5 -411.6 1455.7 1231.5 -1335.6 8092. 6. 544402812-8. 72197 1702.1 -481.2 811.2 470.2 1594.4 769.1 24.6 1880.9 0121 0321 0521 072018 2017 2016 2015 2014 2013 2012 2011 705302794-8. 5034. 048-37693 -1307.6 92 1094.8 -1315.7 43.0 1831.9 226.8 -540.3 -211.4 -281.7 -133.9 709.4 863.6 370.2 716.4 -710.5 -647.3 77 -1344.2 2187.6 869.8 -453.1 920.1 2197.2 670.0 -230.8 6. 2. 2589. 5. 4. 2. 6. 74 -61.5 72 -21.7 -358.3 -43.0 65.8 -56.2 -69.5 94.0 -268.0 -215.8 87.9 -22.6 -382.2 166.8 105.6 226.3 61 -68.4 321.8 58 151.9 309.9 461.5 279.5 53 252.4 347.7 85.7 471.7 321.9 -8.9 767.1 338.4 594.7 152.6 415.3 393.2 143.6 455.4 111.2 -55.3 -8.0 229.5 1. 547. 27-793. 0. 5. 79 -58.5 101.9 78 32.8 -605.2 -17.9 1119.8 468.1 22.7 -228.2 74.6 600.9 45.4 1307.3 419.0 -10.2 -54.9 425. 445. 894. 034. 99 49.1 50.3 47.5 48.9 51.2 54.4 54.3 54.2 87 -0.3 89 -99.7 -7.2 84 135.3 -1.6 1.0 49.5 -2.5 0.6 -102.6 0.1 17.1 -1.8 -3.3 -114.7 0.1 139.1 -9.4 10.5 8.1 -2.5 12.0 75 5.8 -7.9 76 11.8 -2.1 -290.5 88.1 -1.8 -24.2 -3.7 -206.7 8.0 -12.9 -154.4 -11.4 129.5 -1.3 25.4 32.4 67 355.7 66 -15.6 172.8 -75.5 -149.3 10.2 -111.0 -89.8 -61.5 -196.7 65.4 38.8 11.4 62 38.6 24.9 50.1 84.5 -1.8 57 -7.9 -81.2 56 6.5 59.4 -6.9 54 12.7 -14.6 4.6 41.9 -16.9 34.1 -0.5 -32.8 -51.5 62.9 1.3 115.9 30.6 91.1 80.8 -8.6 60.5 16.5 -90.9 40.4 -108.6 99.7 36.0 31.9 96.4 050000-. 11-. . 0486 -0.4 1.1 83 -1.2 -0.6 2.9 81 -1.1 -0.3 -1.5 -1.7 0.4 -2.3 0.0 -0.2 -3.3 0.0 -0.3 0.1 -0.5 -0.2 0.1 0.1 71 -0.1 0.5 70 0.2 -1.2 -1.6 -0.1 2.8 -0.6 -1.5 -1.4 -2.2 -1.1 69 -1703.5 -3.2 1.5 2255.1 798.0 0.1 -0.0 -725.0 0.1 1003.4 -1.6 1816.7 -0.2 775.8 -6.4 . 01-. 05-. 0307-. 95 -0.3 0.7 -0.3 90 0.0 -0.6 0.0 88 -0.5 0.0 0.0 -0.1 0.0 85 -0.1 0.0 -0.8 0.0 0.0 0.0 3.7 0.0 0.0 -0.3 0.0 0.0 -2.8 0.0 0.0 -5.9 0.0 -2.6 0.0 -2.3 73 0.3 1.5 1.5 -0.5 -1.4 -1.1 -0.6 -0.0 1.6 64 2.4 7.7 60 2.7 1.3 1.4 1.5 -4.9 2.0 59 55 194.1 -7.7 9.5 2.2 139.9 4.6 3.3 21.7 2.3 -1.9 5.8 196.9 2.2 0.4 431.6 2.4 287.4 2.4 104.0 2.6 1.4 7.0 6.6 1.5 Z.1, June11,2020 183

Integrated Accounts Integrated Accounts 3 L1010 Nnf.frincrece sa ie)9...... 2142139 4.2 12.1 145 323.0 5.6 295.6 1.0 248.2 226.3 1.5 216.4 0.3 222.2 223.2 8.9 218.3 99.8 147 FL262090095Networth(externalaccount) 146 LM263170005Otheraccountspayable 145 FL263152005Insurance,pensionandstandardizedguaranteeschemes 144 FL263194735Investmentbyholdingcompanies 143 LM263192005U.S.directinvestmentabroad 142 FL313092803U.S.governmentequityinIBRD,etc. 141 LM263164100Corporateequities 140 FL263181105Equityandinvestmentfundshares 139 FL713091103Nonoff.foreigncurrencies(swaplines) 138 FL263168005Depositoryinstitutionloansn.e.c. 137 FL263169005Otherloansandadvances 136 FL262151003Securityrepurchases 119 135 FL264141005Loans(shortterm) 85.0 134 LM263163005Bonds 74.2 120 133 FL263169105Commercialpaper 59.2 132 FL264122005Debtsecurities 118 60.6 7432.1 50.1 131 FL313091105Nonofficialforeigncurrencies 7844.2 130 LM263191005U.S.privatedeposits 47.2 6586.4 39.8 129 FL263111403ReservepositioninIMF(net) 128 FL263111503Officialforeigncurrencies 5731.4 51.0 127 FL264100005Currencyanddeposits 38.6 5456.9 41.9 4948.4 126 FL313011303SDRholdings 35.7 108 3915.8 43.1 1077.9 125 FL264194005Totalliabilities 3498.7 36.1 1012.2 104 39.1 124 FL262100005Totalliabilitiesandnetworth 991.6 206.8 32.3 916.5 158.0 123 LM263070005Otheraccountsreceivable 30.8 899.6 54.0 122 FL543151905Pensionentitlements 121 FL543141905Lifeinsurancereserves 883.8 198.0 120 FL263076005Insurancereceivablesduefromproperty-casualtyinsurancecompanies 1001.2 119 FL263052005Insurance,pensionandstandardizedguaranteeschemes 257.6 1078.2 118 LM263092001ForeigndirectinvestmentintheUnitedStates 292.2 117 LM263064203Mutualfundshares 23.5 116 LM263064105Corporateequities 115 FL263034003Moneymarketfundshares 114 FL263081005Equityandinvestmentfundshares 159.9 113 FL263069500LoanstoU.S.corporatebusiness 112 FL262051005Securityrepurchases 111 FL264041005Loans(shortterm) 110 LM263063005Corporatebonds 109 FL263062003Municipalsecurities 108 LM263061705Agency-andGSE-backedsecurities(2) 107 LM263061105Treasurysecurities 106 LM263069103Openmarketpaper 105 FL264022005Debtsecurities 104 FL264016005NetinterbankitemsduefromU.S.banks 103 FL263030005Timedeposits 102 FL263027003Transferabledeposits 101 FL263025003Currency 100 FL264000005Currencyanddeposits Billions ofdollars S.9.a RestoftheWorld 184 (4) Nonfinancialassets,includingnonproducednonfinancialarenotincludedonthebalance sheet. reflectsdifferencesinsourcedata,timingofrecordedtransactions,andotherstatistical betweenthecapitalandfinancialaccounts. (3) Thestatisticaldiscrepancyisthedifferencebetweennetlendingorborrowingderivedin capitalaccountandthesameconceptderivedinfinancialaccount.Thediscrepancy theFinancingCorporation,andResolutionFundingtheyincludedStudent LoanMarketingAssociationuntilitwasfullyprivatizedin2004:Q4. (2) Government-sponsoredenterprises(GSEs)consistofFederalHomeLoanBanks,FannieMae, FreddieMac,FederalAgriculturalMortgageCorporation,FarmCreditSystem, currenttaxesandtransferpaymentstotherestofworldnettaxes,contributions forgovernmentsocialinsurance,andtransferreceiptsfromtherestofworld. (1) Priorto1999,currenttaxes,contributionsforgovernmentsocialinsurance,andtransferreceipts fromtherestofworld(line8)arenotseparatelydisplayed,andline4includes

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