Unadjusted flow estimated by FR Board, Capital Markets Section, using data from the following commercial sources: public issuance data and cash mergers and acquisitions data from Thomson Financial Services SDC database; share repurchase data from Standard and Poors Compustat database; and private equity issuance data from Dow Jones Private Equity Analyst and PriceWaterhouseCoopers Money tree report. Level at market value is obtained separately as the sum of the market value of publicly-held equity of U.S. domestic corporations (FOF series FL103164115) and the market value of closely-held equity (FOF series FL103164123). Data for the most recent ten years show no significant seasonality.
