Description of table D.2 - Credit Market Borrowing by Sector

This table shows credit market borrowing by sector at seasonally adjusted annual rates. Domestic nonfinancial sectors include households and nonprofit organizations, nonfinancial business (corporate business also shown separately), state and local governments, and the federal government. Total credit market borrowing by the domestic financial and foreign sectors is also shown. Domestic financial sectors include private depository institutions; life insurance companies; government-sponsored enterprises (GSEs); agency- and GSE-backed mortgage pools; issuers of asset-backed securities; finance companies; real estate investment trusts, or REITs; security brokers and dealers; holding companies; and funding corporations (detail available on table F.3). Foreign credit market borrowing represents amounts borrowed by foreign financial and nonfinancial entities in U.S. markets only.

Credit market instruments include open market paper, Treasury securities, agency- and GSE-backed securities, municipal securities, corporate and foreign bonds, depository institution loans not elsewhere classified (n.e.c.), other loans and advances, mortgages, and consumer credit. Households' consumer credit and home mortgage borrowing are shown on this table. Other households and nonprofit organizations' credit market borrowing, which includes municipal securities, depository institution loans n.e.c., other loans and advances, and commercial mortgages, is not shown separately.

Credit market lending or borrowing is different from net lending (+) or net borrowing (-) shown on individual sector tables and in the matrix, which is defined as net acquisition of financial assets less net increase in liabilities.

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