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

This table shows 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 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 (REITs); security brokers and dealers; holding companies; and funding corporations (detail available on table F.3). Foreign borrowing represents amounts borrowed by foreign financial and nonfinancial entities in U.S. markets only.

Borrowing includes funds obtained through issuing debt securities (open market paper, Treasury securities, agency- and GSE-backed securities, municipal securities, and corporate and foreign bonds) or obtaining loans (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 separately on this table. Other households and nonprofit organizations' borrowing instruments, which include municipal securities, depository institution loans n.e.c., other loans and advances, and commercial mortgages, are not shown separately.

Borrowing shown on D.2 is different from net lending (+) or net borrowing (-) shown on individual sector tables and in the matrix, which is defined as the net acquisition of financial assets less the net increase in liabilities.

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