Accessible Version

Accessible Version

Figure 1
Credit Outstanding, by Holders of Debt

A. Share of outstanding credit
Percent
Period Banks IC.PF.MF.ETF GSEs Other nonbanks
1960:Q1 60.10 32.60 2.13 5.16
1960:Q2 60.00 32.43 2.21 5.36
1960:Q3 60.17 32.23 2.21 5.39
1960:Q4 60.42 31.90 2.21 5.47
1961:Q1 60.42 32.18 2.17 5.23
1961:Q2 60.55 32.07 2.19 5.20
1961:Q3 60.97 31.73 2.21 5.09
1961:Q4 61.04 31.42 2.25 5.29
1962:Q1 60.81 31.63 2.30 5.26
1962:Q2 61.10 31.32 2.31 5.27
1962:Q3 61.20 31.24 2.33 5.22
1962:Q4 61.51 30.74 2.35 5.39
1963:Q1 61.48 30.95 2.24 5.33
1963:Q2 61.67 30.63 2.32 5.38
1963:Q3 61.66 30.59 2.33 5.41
1963:Q4 61.93 30.16 2.42 5.49
1964:Q1 61.78 30.37 2.31 5.54
1964:Q2 61.77 30.09 2.39 5.75
1964:Q3 62.00 29.92 2.34 5.74
1964:Q4 62.38 29.55 2.33 5.74
1965:Q1 62.21 29.73 2.32 5.74
1965:Q2 62.26 29.36 2.42 5.96
1965:Q3 62.46 29.35 2.44 5.74
1965:Q4 62.75 28.92 2.46 5.87
1966:Q1 62.33 29.31 2.56 5.79
1966:Q2 62.33 29.02 2.81 5.84
1966:Q3 62.18 29.28 2.90 5.63
1966:Q4 61.99 29.14 2.97 5.89
1967:Q1 62.00 29.22 2.95 5.83
1967:Q2 62.49 29.01 2.89 5.62
1967:Q3 62.87 28.82 2.81 5.50
1967:Q4 63.55 28.20 2.80 5.45
1968:Q1 62.89 28.63 2.94 5.54
1968:Q2 63.03 28.29 3.08 5.60
1968:Q3 63.21 28.05 3.01 5.72
1968:Q4 63.70 27.56 2.98 5.75
1969:Q1 63.35 27.86 3.06 5.73
1969:Q2 63.18 27.36 3.22 6.24
1969:Q3 62.61 27.51 3.42 6.46
1969:Q4 62.44 27.13 3.68 6.76
1970:Q1 61.44 27.42 4.06 7.08
1970:Q2 61.59 27.19 4.13 7.08
1970:Q3 61.94 27.00 4.21 6.85
1970:Q4 62.47 26.51 4.31 6.71
1971:Q1 62.54 26.40 4.42 6.64
1971:Q2 63.23 25.94 4.23 6.59
1971:Q3 63.47 25.70 4.28 6.54
1971:Q4 63.76 25.21 4.39 6.65
1972:Q1 63.77 25.15 4.46 6.62
1972:Q2 64.11 24.79 4.45 6.65
1972:Q3 64.21 24.71 4.47 6.61
1972:Q4 64.54 24.01 4.51 6.95
1973:Q1 64.57 23.97 4.58 6.88
1973:Q2 64.68 23.46 4.78 7.07
1973:Q3 64.47 23.32 5.04 7.17
1973:Q4 64.44 22.95 5.16 7.45
1974:Q1 64.32 23.04 5.28 7.36
1974:Q2 64.52 22.67 5.50 7.31
1974:Q3 64.20 22.74 5.83 7.22
1974:Q4 64.09 22.70 6.07 7.15
1975:Q1 63.54 23.28 6.27 6.91
1975:Q2 63.92 23.37 6.21 6.50
1975:Q3 63.86 23.68 6.20 6.26
1975:Q4 63.82 23.68 6.24 6.26
1976:Q1 63.47 24.00 6.30 6.23
1976:Q2 63.54 23.99 6.31 6.15
1976:Q3 63.35 24.01 6.41 6.23
1976:Q4 63.45 23.70 6.39 6.46
1977:Q1 63.45 23.93 6.49 6.13
1977:Q2 63.32 23.96 6.47 6.26
1977:Q3 63.36 23.97 6.53 6.14
1977:Q4 63.09 23.88 6.60 6.43
1978:Q1 62.87 24.08 6.70 6.35
1978:Q2 62.82 23.94 6.89 6.35
1978:Q3 62.70 23.97 7.07 6.25
1978:Q4 62.49 23.72 7.25 6.54
1979:Q1 61.95 23.86 7.43 6.76
1979:Q2 61.43 23.71 7.63 7.24
1979:Q3 61.47 23.58 7.79 7.17
1979:Q4 61.08 23.52 8.14 7.26
1980:Q1 60.14 23.75 8.42 7.69
1980:Q2 59.34 24.12 8.47 8.07
1980:Q3 59.42 24.20 8.56 7.82
1980:Q4 59.76 24.07 8.68 7.49
1981:Q1 58.80 24.24 8.66 8.30
1981:Q2 58.27 24.20 8.85 8.68
1981:Q3 57.63 24.06 9.06 9.25
1981:Q4 57.24 24.13 9.07 9.57
1982:Q1 56.33 24.70 9.25 9.71
1982:Q2 55.83 24.92 9.50 9.75
1982:Q3 55.12 25.10 9.78 9.99
1982:Q4 54.81 25.12 9.89 10.18
1983:Q1 54.68 25.41 10.03 9.88
1983:Q2 54.83 25.38 10.19 9.61
1983:Q3 54.79 25.26 10.32 9.64
1983:Q4 54.95 25.02 10.33 9.69
1984:Q1 54.82 25.01 10.32 9.85
1984:Q2 55.03 24.69 10.38 9.91
1984:Q3 54.71 24.86 10.54 9.88
1984:Q4 54.03 24.82 10.38 10.77
1985:Q1 53.69 24.93 10.55 10.84
1985:Q2 52.94 25.13 10.72 11.20
1985:Q3 52.48 25.17 10.91 11.44
1985:Q4 52.68 25.02 10.61 11.69
1986:Q1 51.42 25.70 10.70 12.18
1986:Q2 50.84 25.82 11.00 12.33
1986:Q3 50.21 26.17 11.29 12.32
1986:Q4 50.04 26.10 11.73 12.13
1987:Q1 49.12 26.73 12.04 12.11
1987:Q2 49.00 26.65 12.28 12.07
1987:Q3 48.96 26.67 12.54 11.83
1987:Q4 48.86 26.32 12.68 12.15
1988:Q1 48.39 26.50 12.61 12.50
1988:Q2 48.41 26.46 12.59 12.53
1988:Q3 48.28 26.78 12.79 12.16
1988:Q4 48.10 26.74 12.96 12.20
1989:Q1 47.34 26.80 13.14 12.72
1989:Q2 46.71 27.01 12.93 13.35
1989:Q3 46.08 27.23 13.10 13.59
1989:Q4 45.22 27.42 13.31 14.05
1990:Q1 44.65 27.64 13.45 14.26
1990:Q2 43.96 28.06 13.66 14.32
1990:Q3 43.39 28.29 14.00 14.32
1990:Q4 42.60 28.33 14.26 14.81
1991:Q1 41.74 28.81 14.46 14.99
1991:Q2 41.13 29.29 14.65 14.93
1991:Q3 40.48 29.71 14.94 14.87
1991:Q4 40.13 29.47 15.14 15.27
1992:Q1 39.41 29.82 15.39 15.37
1992:Q2 38.93 30.13 15.64 15.30
1992:Q3 38.45 30.45 15.75 15.35
1992:Q4 38.11 30.73 16.01 15.16
1993:Q1 37.69 31.35 16.13 14.83
1993:Q2 37.35 31.65 16.13 14.87
1993:Q3 36.85 32.01 16.31 14.83
1993:Q4 36.73 32.01 16.42 14.84
1994:Q1 36.49 32.01 16.80 14.70
1994:Q2 36.47 32.03 17.08 14.42
1994:Q3 36.43 31.91 17.28 14.37
1994:Q4 36.32 31.47 17.50 14.70
1995:Q1 36.34 31.50 17.30 14.86
1995:Q2 36.17 31.21 17.26 15.36
1995:Q3 36.17 31.06 17.31 15.46
1995:Q4 35.56 30.77 17.60 16.06
1996:Q1 35.19 30.81 17.58 16.42
1996:Q2 35.26 30.69 17.71 16.33
1996:Q3 35.23 30.42 17.87 16.48
1996:Q4 35.03 30.15 18.04 16.78
1997:Q1 34.93 30.19 18.02 16.86
1997:Q2 34.97 30.32 18.06 16.65
1997:Q3 34.66 30.34 18.03 16.97
1997:Q4 34.53 29.84 18.06 17.57
1998:Q1 33.96 29.60 18.09 18.35
1998:Q2 33.60 29.41 18.36 18.63
1998:Q3 33.13 29.05 18.81 19.01
1998:Q4 33.06 28.45 19.22 19.27
1999:Q1 32.40 28.24 19.55 19.82
1999:Q2 32.16 28.20 19.98 19.65
1999:Q3 32.12 27.72 20.37 19.79
1999:Q4 32.05 27.10 20.36 20.48
2000:Q1 31.98 26.63 20.36 21.03
2000:Q2 32.22 26.17 20.54 21.07
2000:Q3 32.16 25.73 20.76 21.35
2000:Q4 31.96 25.12 21.16 21.76
2001:Q1 31.28 24.67 21.21 22.84
2001:Q2 31.16 24.71 21.81 22.32
2001:Q3 30.78 24.31 22.26 22.66
2001:Q4 30.72 23.97 22.42 22.89
2002:Q1 30.39 24.25 22.93 22.43
2002:Q2 30.41 24.21 23.14 22.24
2002:Q3 30.50 24.14 23.09 22.27
2002:Q4 30.46 23.89 23.14 22.51
2003:Q1 30.27 23.86 23.14 22.73
2003:Q2 30.38 23.94 23.02 22.66
2003:Q3 29.93 23.91 23.41 22.75
2003:Q4 30.16 24.02 22.94 22.88
2004:Q1 30.46 24.18 22.56 22.80
2004:Q2 30.77 24.17 22.48 22.58
2004:Q3 30.58 24.02 22.16 23.25
2004:Q4 30.74 23.82 21.66 23.79
2005:Q1 31.10 23.80 21.16 23.95
2005:Q2 31.28 23.61 20.87 24.23
2005:Q3 31.53 23.58 20.57 24.31
2005:Q4 31.25 23.29 20.27 25.18
2006:Q1 31.25 23.22 20.08 25.46
2006:Q2 31.44 23.08 19.98 25.50
2006:Q3 31.15 22.88 19.77 26.20
2006:Q4 30.92 22.65 19.60 26.83
2007:Q1 30.52 22.62 19.44 27.42
2007:Q2 30.54 22.62 19.51 27.33
2007:Q3 30.56 22.25 19.96 27.22
2007:Q4 30.61 22.05 20.38 26.95
2008:Q1 30.38 21.84 20.56 27.21
2008:Q2 30.35 21.96 21.13 26.56
2008:Q3 30.56 21.72 21.42 26.30
2008:Q4 30.45 21.20 21.46 26.89
2009:Q1 30.57 21.77 21.86 25.80
2009:Q2 30.64 22.32 22.27 24.77
2009:Q3 30.61 23.13 22.76 23.50
2009:Q4 30.57 24.03 22.97 22.43
2010:Q1 32.05 25.15 22.00 20.81
2010:Q2 31.99 25.73 22.13 20.15
2010:Q3 32.30 26.28 21.86 19.56
2010:Q4 32.23 26.88 21.96 18.93
2011:Q1 31.91 27.46 22.07 18.56
2011:Q2 32.00 27.72 22.05 18.23
2011:Q3 32.21 28.13 21.78 17.87
2011:Q4 32.27 28.34 21.47 17.92
2012:Q1 32.00 28.92 21.22 17.87
2012:Q2 32.22 29.39 21.07 17.32
2012:Q3 32.26 29.79 20.76 17.19
2012:Q4 32.35 30.03 20.49 17.13
2013:Q1 32.15 30.63 20.46 16.75
2013:Q2 32.23 30.91 20.58 16.28
2013:Q3 32.32 30.85 20.71 16.12
2013:Q4 32.56 31.27 20.62 15.56
2014:Q1 32.73 31.60 20.52 15.16
2014:Q2 33.11 31.88 20.44 14.57
2014:Q3 33.19 32.03 20.34 14.44
2014:Q4 33.39 32.03 20.21 14.37
2015:Q1 33.64 32.29 20.01 14.05

 

B. Share of GDP
Percent
Period Banks IC.PF.MF.ETF GSEs Other nonbanks
1960:Q1 52.79 28.63 1.87 4.53
1960:Q2 53.84 29.10 1.98 4.81
1960:Q3 54.83 29.37 2.02 4.92
1960:Q4 57.08 30.14 2.09 5.17
1961:Q1 56.96 30.34 2.04 4.93
1961:Q2 56.93 30.16 2.05 4.89
1961:Q3 57.69 30.02 2.09 4.82
1961:Q4 57.95 29.83 2.14 5.02
1962:Q1 56.99 29.65 2.16 4.93
1962:Q2 57.97 29.72 2.19 5.00
1962:Q3 58.47 29.85 2.23 4.98
1962:Q4 60.35 30.17 2.31 5.29
1963:Q1 59.94 30.17 2.19 5.20
1963:Q2 60.76 30.17 2.29 5.30
1963:Q3 60.60 30.07 2.29 5.32
1963:Q4 61.79 30.09 2.41 5.48
1964:Q1 60.79 29.89 2.27 5.45
1964:Q2 61.51 29.96 2.38 5.73
1964:Q3 61.93 29.88 2.34 5.74
1964:Q4 63.63 30.14 2.38 5.85
1965:Q1 62.50 29.87 2.33 5.77
1965:Q2 63.08 29.75 2.46 6.04
1965:Q3 62.77 29.50 2.46 5.77
1965:Q4 63.06 29.06 2.47 5.90
1966:Q1 61.42 28.88 2.52 5.71
1966:Q2 62.22 28.97 2.80 5.83
1966:Q3 61.59 29.00 2.88 5.58
1966:Q4 61.65 28.98 2.95 5.86
1967:Q1 61.49 28.98 2.92 5.78
1967:Q2 62.68 29.09 2.90 5.63
1967:Q3 63.16 28.96 2.82 5.53
1967:Q4 64.90 28.80 2.86 5.57
1968:Q1 62.43 28.42 2.92 5.50
1968:Q2 62.19 27.92 3.04 5.53
1968:Q3 62.72 27.83 2.99 5.68
1968:Q4 63.92 27.65 2.99 5.77
1969:Q1 62.33 27.41 3.01 5.64
1969:Q2 62.74 27.17 3.20 6.20
1969:Q3 61.66 27.09 3.36 6.36
1969:Q4 62.47 27.14 3.68 6.76
1970:Q1 61.06 27.25 4.03 7.03
1970:Q2 61.71 27.24 4.14 7.09
1970:Q3 62.37 27.19 4.24 6.90
1970:Q4 64.62 27.42 4.46 6.94
1971:Q1 63.03 26.60 4.45 6.69
1971:Q2 64.17 26.32 4.30 6.69
1971:Q3 64.51 26.12 4.35 6.65
1971:Q4 66.38 26.24 4.57 6.92
1972:Q1 65.57 25.86 4.58 6.81
1972:Q2 65.97 25.51 4.58 6.84
1972:Q3 66.68 25.66 4.65 6.87
1972:Q4 68.11 25.34 4.76 7.33
1973:Q1 67.55 25.08 4.79 7.20
1973:Q2 68.51 24.85 5.07 7.49
1973:Q3 69.36 25.08 5.43 7.71
1973:Q4 69.54 24.77 5.57 8.04
1974:Q1 70.05 25.09 5.76 8.02
1974:Q2 70.80 24.88 6.03 8.02
1974:Q3 70.58 24.99 6.41 7.94
1974:Q4 70.36 24.93 6.66 7.85
1975:Q1 69.47 25.46 6.86 7.55
1975:Q2 69.89 25.56 6.79 7.11
1975:Q3 68.63 25.44 6.67 6.73
1975:Q4 68.53 25.43 6.70 6.72
1976:Q1 67.25 25.43 6.67 6.60
1976:Q2 68.15 25.73 6.76 6.60
1976:Q3 68.42 25.94 6.92 6.73
1976:Q4 69.29 25.88 6.98 7.06
1977:Q1 68.68 25.90 7.02 6.63
1977:Q2 68.73 26.00 7.03 6.79
1977:Q3 68.81 26.03 7.09 6.67
1977:Q4 69.67 26.37 7.29 7.10
1978:Q1 69.81 26.74 7.43 7.05
1978:Q2 68.58 26.14 7.52 6.94
1978:Q3 68.78 26.29 7.76 6.86
1978:Q4 68.91 26.16 8.00 7.21
1979:Q1 68.67 26.44 8.23 7.49
1979:Q2 69.03 26.64 8.57 8.13
1979:Q3 69.58 26.69 8.82 8.11
1979:Q4 69.47 26.75 9.26 8.26
1980:Q1 68.52 27.05 9.59 8.77
1980:Q2 68.89 28.00 9.83 9.37
1980:Q3 69.37 28.26 9.99 9.13
1980:Q4 68.62 27.64 9.97 8.61
1981:Q1 65.95 27.19 9.71 9.31
1981:Q2 66.65 27.68 10.12 9.93
1981:Q3 66.00 27.55 10.37 10.59
1981:Q4 66.64 28.09 10.56 11.14
1982:Q1 66.67 29.23 10.95 11.49
1982:Q2 66.42 29.64 11.30 11.60
1982:Q3 66.32 30.20 11.77 12.02
1982:Q4 67.07 30.74 12.10 12.45
1983:Q1 66.74 31.02 12.24 12.06
1983:Q2 66.77 30.91 12.40 11.70
1983:Q3 66.83 30.81 12.59 11.75
1983:Q4 67.44 30.71 12.68 11.90
1984:Q1 67.34 30.72 12.68 12.10
1984:Q2 68.14 30.57 12.85 12.26
1984:Q3 68.73 31.23 13.24 12.42
1984:Q4 69.67 32.01 13.38 13.89
1985:Q1 69.23 32.15 13.61 13.97
1985:Q2 69.23 32.87 14.02 14.65
1985:Q3 69.71 33.43 14.49 15.20
1985:Q4 73.45 34.89 14.80 16.30
1986:Q1 72.72 36.34 15.14 17.23
1986:Q2 73.74 37.45 15.96 17.88
1986:Q3 74.65 38.91 16.79 18.32
1986:Q4 76.64 39.98 17.97 18.59
1987:Q1 75.70 41.20 18.56 18.66
1987:Q2 76.21 41.45 19.11 18.78
1987:Q3 76.64 41.74 19.63 18.52
1987:Q4 76.75 41.35 19.92 19.08
1988:Q1 76.36 41.81 19.89 19.73
1988:Q2 76.42 41.77 19.88 19.78
1988:Q3 76.18 42.25 20.17 19.18
1988:Q4 76.08 42.29 20.50 19.29
1989:Q1 74.72 42.30 20.74 20.08
1989:Q2 73.92 42.74 20.46 21.13
1989:Q3 73.04 43.16 20.77 21.54
1989:Q4 72.51 43.96 21.33 22.52
1990:Q1 71.38 44.19 21.50 22.81
1990:Q2 70.26 44.85 21.84 22.89
1990:Q3 69.43 45.27 22.41 22.91
1990:Q4 69.15 45.98 23.14 24.04
1991:Q1 68.11 47.00 23.60 24.46
1991:Q2 66.67 47.48 23.75 24.19
1991:Q3 65.52 48.08 24.18 24.07
1991:Q4 65.22 47.89 24.61 24.81
1992:Q1 63.82 48.29 24.93 24.89
1992:Q2 62.85 48.64 25.25 24.70
1992:Q3 62.34 49.37 25.53 24.89
1992:Q4 61.50 49.60 25.83 24.46
1993:Q1 60.97 50.72 26.10 23.99
1993:Q2 60.86 51.56 26.29 24.22
1993:Q3 60.88 52.89 26.94 24.49
1993:Q4 60.54 52.77 27.06 24.46
1994:Q1 59.90 52.56 27.58 24.14
1994:Q2 59.51 52.26 27.87 23.53
1994:Q3 59.64 52.24 28.29 23.53
1994:Q4 59.40 51.47 28.63 24.05
1995:Q1 59.97 52.00 28.55 24.53
1995:Q2 60.62 52.31 28.92 25.75
1995:Q3 60.77 52.19 29.09 25.97
1995:Q4 60.45 52.30 29.92 27.30
1996:Q1 60.16 52.67 30.06 28.08
1996:Q2 59.80 52.05 30.04 27.69
1996:Q3 59.87 51.71 30.37 28.01
1996:Q4 59.65 51.35 30.72 28.58
1997:Q1 59.65 51.57 30.77 28.80
1997:Q2 59.77 51.82 30.87 28.47
1997:Q3 59.39 51.99 30.89 29.07
1997:Q4 60.06 51.91 31.41 30.57
1998:Q1 60.01 52.31 31.96 32.43
1998:Q2 59.93 52.47 32.74 33.23
1998:Q3 59.63 52.27 33.85 34.20
1998:Q4 60.32 51.92 35.07 35.16
1999:Q1 59.85 52.16 36.11 36.61
1999:Q2 59.87 52.49 37.20 36.58
1999:Q3 60.35 52.09 38.28 37.18
1999:Q4 60.79 51.40 38.61 38.84
2000:Q1 61.09 50.87 38.89 40.17
2000:Q2 61.03 49.58 38.91 39.93
2000:Q3 61.61 49.28 39.77 40.89
2000:Q4 61.84 48.61 40.94 42.10
2001:Q1 61.82 48.75 41.91 45.15
2001:Q2 61.56 48.82 43.09 44.09
2001:Q3 62.26 49.17 45.03 45.83
2001:Q4 63.14 49.27 46.08 47.05
2002:Q1 62.63 49.99 47.25 46.24
2002:Q2 63.04 50.18 47.97 46.10
2002:Q3 63.96 50.63 48.42 46.70
2002:Q4 65.00 50.97 49.37 48.04
2003:Q1 65.45 51.59 50.05 49.16
2003:Q2 66.31 52.25 50.24 49.46
2003:Q3 65.14 52.04 50.97 49.53
2003:Q4 65.71 52.33 49.99 49.85
2004:Q1 66.75 52.98 49.45 49.96
2004:Q2 67.28 52.84 49.15 49.37
2004:Q3 67.15 52.74 48.65 51.05
2004:Q4 67.73 52.48 47.74 52.42
2005:Q1 68.65 52.54 46.71 52.86
2005:Q2 69.53 52.49 46.39 53.85
2005:Q3 70.08 52.42 45.71 54.04
2005:Q4 70.20 52.31 45.53 56.57
2006:Q1 70.46 52.35 45.28 57.41
2006:Q2 71.65 52.60 45.53 58.10
2006:Q3 71.89 52.80 45.64 60.47
2006:Q4 72.12 52.84 45.72 62.60
2007:Q1 71.83 53.24 45.77 64.56
2007:Q2 72.46 53.67 46.28 64.84
2007:Q3 73.69 53.65 48.12 65.64
2007:Q4 74.59 53.73 49.67 65.67
2008:Q1 75.71 54.44 51.25 67.83
2008:Q2 75.42 54.58 52.50 65.99
2008:Q3 76.32 54.25 53.51 65.69
2008:Q4 78.00 54.28 54.98 68.86
2009:Q1 78.00 55.54 55.77 65.83
2009:Q2 77.50 56.46 56.34 62.66
2009:Q3 75.82 57.31 56.38 58.22
2009:Q4 73.80 58.00 55.44 54.14
2010:Q1 75.00 58.85 51.48 48.70
2010:Q2 73.22 58.89 50.65 46.13
2010:Q3 73.43 59.73 49.68 44.45
2010:Q4 72.02 60.06 49.06 42.29
2011:Q1 71.30 61.36 49.32 41.49
2011:Q2 70.28 60.88 48.43 40.03
2011:Q3 70.70 61.76 47.82 39.24
2011:Q4 70.81 62.20 47.12 39.32
2012:Q1 70.17 63.41 46.54 39.18
2012:Q2 70.23 64.06 45.92 37.74
2012:Q3 70.26 64.88 45.23 37.45
2012:Q4 71.06 65.97 45.01 37.62
2013:Q1 70.10 66.80 44.61 36.53
2013:Q2 70.02 67.15 44.71 35.37
2013:Q3 69.31 66.17 44.42 34.57
2013:Q4 69.58 66.82 44.07 33.25
2014:Q1 70.30 67.87 44.06 32.55
2014:Q2 70.53 67.92 43.54 31.03
2014:Q3 70.39 67.93 43.14 30.63
2014:Q4 71.49 68.56 43.26 30.76
2015:Q1 72.38 69.48 43.05 30.22

Note: Credit outstanding consists of domestic private nonfinancial sector debt (43 percent), domestic government debt (27 percent), domestic financial-sector debt (24 percent), and foreign bonds held in the U.S. financial system (5 percent). IC.PF.MF.ETF denotes insurance companies, pension funds, mutual funds, and exchange-traded funds. GDP is gross domestic product; GSEs are government-sponsored enterprises. Other nonbanks are issuers of asset-backed securities, finance companies, mortgage real estate investment trusts, broker-dealers, funding corporations, and holding companies. Dodd-Frank Act is the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

Lehman Brothers bankruptcy filing Sept. 15, 2008.

Dodd-Frank Act effective July 21, 2010.

Color key identifies chart regions in order, from bottom to top.

Source: Federal Reserve Board, Statistical Release Z.1, "Financial Accounts of the United States."

 

 

Table 1
Short-Term Liabilities as a Share of Total Liabilities in the Other Nonbank Sector

 

Percent
Period Broker-dealers Finance companies ABS issuers Mortgage REITS
2006:Q3 to 2007:Q2 48 8 20 38
2014:Q2 to 2015:Q1 43 8 5 54

Note: Data are averages. ABS are asset-backed securities; REITS are real estate investment trusts.

Source: Federal Reserve Board, Statistical Release Z.1, "Financial Accounts of the United States."

 

Table 2
Correlations of Changes in Bank Credit Relative to GDP with Changes in Nonbank Credit Relative to GDP

 

Item Full sample Recessions Expansions
Nonbank .32 .56 .28
GSEs .13 .39 .08
IC.PF.MF.ETF .11 -.46 .15
Insurance companies .17 -.18 .19
Pension funds .06 -.12 .08
Mutual funds, ETFs .00 -.44 .05
Other nonbank .31 .60 .27
Broker-dealers .10 .20 .09
Finance companies, REITs .36 .50 .37
ABS issuers .14 .07 .16
MMFs .18 .61 .07

Note: Full sample refers to the period from 1980:Q1 through 2015:Q1. Recessions and expansions follow the dating convention used by the National Bureau of Economic Research. IC.PF.MF.ETF denotes insurance companies, pension funds, mutual funds, and exchange-traded funds. GDP is gross domestic product; GSEs are government-sponsored enterprises; REITs are real estate investment trusts; ABS are asset-backed securities; MMFs are money market funds.

Source: Federal Reserve Board, Statistical Release Z.1, "Financial Accounts of the United States."

Last Update: October 02, 2015