Financial Accounts of the United States - Z.1
S122.i.a Private depository institutions 🕮 PDF
| Line | Description | Series | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current account | ||||||||||
| Line 1 | Gross value added | FA706902505 | 473.3 | 454.6 | 468.6 | 503.7 | 562.8 | 648.0 | 681.1 | |
| Line 2 | Less: Consumption of fixed capital | FA706330081 | 42.7 | 49.2 | 55.0 | 58.7 | 65.9 | 72.5 | 78.2 | 0.0 |
| Line 3 | Equals: Net value added | FA706902605 | 430.5 | 405.4 | 413.5 | 445.0 | 496.9 | 575.4 | 603.0 | |
| Line 4 | Compensation of employees (paid) | FA706025005 | 176.8 | 180.7 | 196.2 | 208.7 | 215.1 | 224.6 | 223.9 | |
| Line 5 | Wages and salaries | FA706020001 | 176.8 | 180.7 | 196.2 | 208.7 | 215.1 | 224.6 | 223.9 | |
| Line 6 | Employers' social contributions | FA706401001 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
| Line 7 | Taxes on production and imports less subsidies | FA706240101 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
| Line 8 | Operating surplus, net | FA706402101 | 253.8 | 224.7 | 217.4 | 236.3 | 281.8 | 350.9 | 379.0 | |
| Line 9 | Net national income/Balance of primary incomes, net | FA706140005 | -53.9 | -130.6 | -60.1 | 9.4 | -43.5 | -341.5 | -463.5 | |
| Line 10 | Operating surplus, net | FA706402101 | 253.8 | 224.7 | 217.4 | 236.3 | 281.8 | 350.9 | 379.0 | |
| Line 11 | Property income (received) | FA706150105 | 2.7 | 2.4 | 1.6 | 1.4 | 2.3 | 4.0 | 4.4 | |
| Line 12 | Interest | FA706130101 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
| Line 13 | Distributed income of corporations (dividends) | FA706121101 | 2.7 | 2.4 | 1.6 | 1.4 | 2.3 | 4.0 | 4.4 | |
| Line 14 | Reinvested earnings on U.S. direct investment abroad | FA703092281 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
| Line 15 | Less: Uses of property income (paid) | FA706150005 | 310.4 | 357.7 | 279.1 | 228.3 | 327.6 | 696.4 | 846.9 | |
| Line 16 | Interest | FA706130001 | 305.0 | 352.3 | 275.6 | 219.7 | 320.7 | 690.6 | 840.3 | |
| Line 17 | Distributed income of corporations | FA706120005 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
| Line 18 | Dividends | FA706121001 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
| Line 19 | Withdrawals from income of quasi-corporations(1) | FA706122001 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
| Line 20 | Reinvested earnings on foreign direct investment | FA703192281 | 5.4 | 5.4 | 3.5 | 8.6 | 6.9 | 5.8 | 6.6 | |
| Line 21 | Rents on land and natural resources | FA706112001 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
| Line 22 | Net national income/Balance of primary incomes, net | FA706140005 | -53.9 | -130.6 | -60.1 | 9.4 | -43.5 | -341.5 | -463.5 | |
| Line 23 | Less: Current taxes on income, wealth, etc. (paid) | FA706220001 | 24.0 | 29.4 | 30.2 | 29.6 | 34.8 | 35.6 | 39.5 | |
| Line 24 | Less: Other current transfers (paid) | FA706403001 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
| Line 25 | Equals: Disposable income, net | FA706012005 | -77.9 | -160.0 | -90.3 | -20.2 | -78.3 | -377.1 | -503.0 | |
| Line 26 | Equals: Net saving | FA706012005 | -77.9 | -160.0 | -90.3 | -20.2 | -78.3 | -377.1 | -503.0 | |
| Capital account | ||||||||||
| Line 27 | Net saving less capital transfers | FA706006385 | -77.9 | -160.0 | -90.3 | -20.2 | -80.3 | -377.1 | -503.0 | |
| Line 28 | Net saving | FA706012005 | -77.9 | -160.0 | -90.3 | -20.2 | -78.3 | -377.1 | -503.0 | |
| Line 29 | Less: Capital transfers paid (net) | FA705440083 | 0.0 | 0.0 | 0.0 | 0.0 | 2.0 | 0.0 | 0.0 | |
| Line 30 | Capital formation, net | FA705015085 | -42.7 | -49.2 | -55.0 | -58.7 | -65.9 | -72.5 | -78.2 | |
| Line 31 | Gross fixed capital formation (nonresidential) | FA705013081 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
| Line 32 | Less: Consumption of fixed capital | FA706330081 | 42.7 | 49.2 | 55.0 | 58.7 | 65.9 | 72.5 | 78.2 | 0.0 |
| Line 33 | Net lending (+) or borrowing (-), capital account (lines 27-30) | FA705000995 | -35.2 | -110.8 | -35.3 | 38.5 | -14.4 | -304.6 | -424.8 | |
| Financial account | ||||||||||
| Line 34 | Net lending (+) or borrowing (-) (line 33) | FA705000995 | -35.2 | -110.8 | -35.3 | 38.5 | -14.4 | -304.6 | -424.8 | |
| Line 35 | Net acquisition of financial assets | FA704090005 | 287.6 | 870.7 | 3252.1 | 2409.2 | 675.1 | 485.7 | 203.8 | 1342.6 |
| Line 36 | Currency and deposits | FA704000005 | -526.8 | 98.0 | 1520.3 | 665.4 | -953.0 | 489.4 | -342.0 | 136.0 |
| Line 37 | Debt securities | FA704022005 | 131.3 | 215.3 | 1081.3 | 1347.5 | -21.4 | -446.9 | 126.2 | 164.7 |
| Line 38 | Open market paper | FA703069175 | 0.2 | 0.5 | 1.6 | -2.1 | -0.2 | -0.1 | 0.1 | -0.0 |
| Line 39 | Treasury securities | FA703061105 | 124.7 | 126.3 | 302.8 | 467.7 | 58.3 | -100.1 | 197.4 | 202.7 |
| Line 40 | Agency- and GSE-backed securities(2) | FA703061705 | 57.4 | 110.0 | 693.4 | 606.0 | -229.9 | -201.0 | -10.3 | -19.8 |
| Line 41 | Municipal securities | FA703062005 | -31.5 | -26.6 | 61.9 | 65.4 | -4.8 | -60.2 | -36.9 | -16.3 |
| Line 42 | Corporate and foreign bonds | FA703063005 | -19.5 | 5.1 | 21.5 | 210.3 | 155.1 | -85.5 | -24.0 | -1.8 |
| Line 43 | Loans | FA704035005 | 772.1 | 495.6 | 503.3 | 240.1 | 1433.6 | 485.6 | 437.6 | 964.8 |
| Line 44 | Short-term | FA704041005 | 601.4 | 278.5 | 418.9 | 28.3 | 766.3 | 207.6 | 299.2 | 765.0 |
| Line 45 | Long-term | FA703065005 | 170.8 | 217.0 | 84.5 | 211.8 | 667.3 | 278.0 | 138.4 | 199.8 |
| Line 46 | Equity and investment fund shares | FA703081005 | -0.3 | 8.9 | 0.4 | 15.7 | 29.2 | -0.9 | 15.8 | 19.1 |
| Line 47 | Corporate equities | FA703064105 | 2.5 | 0.8 | 2.9 | 2.4 | -1.9 | 2.5 | 11.7 | 4.9 |
| Line 48 | Mutual fund shares | FA703064205 | -3.1 | 1.4 | 2.4 | 3.6 | -3.7 | -1.9 | -1.5 | 1.5 |
| Line 49 | Equity in government-sponsored enterprises(2) | FA703092405 | 0.5 | -4.6 | -9.7 | -3.4 | 20.2 | -0.1 | -3.5 | -3.4 |
| Line 50 | U.S. direct investment abroad: equity | FA763092100 | -1.1 | 11.9 | 4.0 | 11.6 | 13.4 | -2.5 | 8.0 | 14.1 |
| Line 51 | Stock in Federal Reserve Banks | FA713164003 | 0.9 | -0.6 | 0.7 | 1.5 | 1.1 | 1.1 | 1.1 | 2.0 |
| Line 52 | Insurance, pension and standardized guarantee schemes | FA763040005 | 3.9 | 6.7 | 6.1 | 13.3 | 6.5 | -2.0 | 4.3 | 6.2 |
| Line 53 | Other accounts receivable | FA703096105 | -92.7 | 46.3 | 140.8 | 127.2 | 180.1 | -39.6 | -38.1 | 51.9 |
| Line 54 | Net incurrence of liabilities | FA704194005 | 472.0 | 993.3 | 3240.8 | 2166.6 | 465.1 | 573.9 | 296.2 | 1326.9 |
| Line 55 | Currency and deposits | FA704100005 | 480.7 | 875.1 | 3465.7 | 2201.6 | -102.4 | -49.7 | 400.6 | 1108.6 |
| Line 56 | Debt securities | FA704122005 | -47.7 | 60.8 | 103.1 | -136.6 | 187.8 | 35.6 | -0.1 | 22.4 |
| Line 57 | Corporate bonds | FA763163005 | -18.0 | 20.9 | 54.8 | -64.8 | 68.2 | -5.5 | -15.0 | 4.2 |
| Line 58 | Commercial paper | FA703169175 | -29.7 | 39.8 | 48.4 | -71.8 | 119.5 | 41.1 | 14.8 | 18.2 |
| Line 59 | Loans (short-term) | FA704141005 | -82.5 | -27.8 | -243.0 | -105.8 | 425.8 | 107.6 | -173.5 | -21.7 |
| Line 60 | Equity and investment fund shares | FA703181105 | 114.7 | 89.8 | 89.4 | 139.5 | -110.0 | 120.7 | 101.2 | 202.0 |
| Line 61 | Corporate equity issues | FA763164105 | -5.2 | 1.4 | 1.9 | 2.3 | 17.3 | -8.5 | -12.5 | -0.6 |
| Line 62 | Foreign direct investment in the U.S.: equity | FA753192103 | 12.8 | 5.5 | 8.2 | -2.8 | 12.3 | 12.9 | 14.5 | 4.2 |
| Line 63 | Equity investment by parent | FA703194605 | 107.1 | 83.0 | 79.4 | 140.0 | -139.7 | 116.3 | 99.2 | 198.4 |
| Line 64 | Other accounts payable | FA703196005 | 6.8 | -4.6 | -174.4 | 67.9 | 64.0 | 359.7 | -31.9 | 15.6 |
| Addendum: | ||||||||||
| Line 65 | Net lending (+) or borrowing (-), financial account (lines 35-54) | FA705000005 | -184.4 | -122.5 | 11.3 | 242.6 | 210.0 | -88.2 | -92.4 | 15.8 |
| Other changes in volume account | ||||||||||
| Line 66 | Total other volume changes | FV708090185 | -105.1 | 25.3 | 118.5 | 279.3 | 322.2 | 311.6 | 432.2 | |
| Line 67 | Disaster losses | FV702010095 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
| Line 68 | Other volume changes | FV708090085 | 44.1 | 37.0 | 71.9 | 75.1 | 97.8 | 95.2 | 99.8 | |
| Line 69 | Less: Statistical discrepancy (lines 33-67)(3) | FU707005045 | 149.2 | 11.7 | -46.6 | -204.1 | -224.4 | -216.4 | -332.4 | |
| Revaluation account | ||||||||||
| Line 70 | Nonfinancial assets | FR702010095 | 14.7 | 9.2 | 4.8 | 61.6 | 79.5 | 1.5 | 13.3 | |
| Line 71 | Structures (nonresidential) | FR705013665 | 14.8 | 11.2 | 5.2 | 56.5 | 72.8 | 0.2 | 8.8 | 8.8 |
| Line 72 | Equipment | FR705013265 | 0.6 | -1.0 | 0.4 | 6.6 | 7.0 | 1.8 | 2.1 | 0.5 |
| Line 73 | Intellectual property products | FR705013765 | -0.8 | -1.0 | -0.8 | -1.5 | -0.3 | -0.5 | 2.4 | -10.6 |
| Line 74 | Financial assets | FR704090005 | -45.6 | 140.4 | 159.5 | -209.1 | -670.2 | 100.7 | 6.7 | 135.7 |
| Line 75 | Debt securities | FR704022005 | -47.6 | 118.8 | 92.3 | -148.9 | -690.2 | 157.5 | -8.9 | 194.7 |
| Line 76 | Corporate equities | FR703064105 | -4.2 | 7.8 | 2.5 | 9.0 | -7.1 | 5.8 | 8.4 | 12.2 |
| Line 77 | Mutual fund shares | FR703064205 | -0.6 | 1.6 | 2.6 | 2.1 | -4.0 | 2.0 | 1.8 | 2.2 |
| Line 78 | U.S. direct investment abroad: equity | FR763092100 | -52.3 | 46.3 | 17.4 | 45.1 | -85.5 | 39.0 | 9.2 | 103.2 |
| Line 79 | Other accounts receivable | FR703096105 | 59.0 | -34.2 | 44.6 | -116.5 | 116.6 | -103.5 | -3.8 | -176.6 |
| Line 80 | Liabilities | FR704194005 | -37.8 | 81.8 | 42.8 | 114.1 | -185.5 | 52.2 | 106.8 | 95.3 |
| Line 81 | Corporate equity issues | FR763164105 | -8.6 | 22.5 | -8.5 | 50.8 | -65.5 | -16.9 | 19.6 | 7.7 |
| Line 82 | Foreign direct investment in the U.S.: equity | FR753192103 | -29.8 | 59.9 | 51.6 | 63.7 | -118.8 | 69.4 | 86.6 | 88.2 |
| Line 83 | Equity investment by parent | FR703194605 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 84 | Foreign direct investment in the U.S.: debt | FR753192305 | 0.6 | -0.6 | -0.3 | -0.4 | -1.1 | -0.3 | 0.7 | -0.5 |
| Line 85 | Changes in net worth due to nominal holding gains/losses | FR702090095 | 6.8 | 67.8 | 121.6 | -261.6 | -405.3 | 50.0 | -86.8 | 39.1 |
| Changes in balance sheet account | ||||||||||
| Line 86 | Change in net worth (lines 30+33+66+85) | FC702090095 | -176.3 | -66.9 | 149.8 | -2.5 | -163.5 | -15.5 | -157.5 | 61.0 |
| Balance sheet account (end of period) | ||||||||||
| Line 87 | Total assets | FL702000095 | 20772.9 | 21781.0 | 25211.9 | 27483.5 | 27585.3 | 28187.7 | 28428.6 | 29927.0 |
| Line 88 | Nonfinancial assets(4) | LM702010095 | 463.5 | 504.9 | 525.9 | 598.4 | 696.3 | 713.3 | 744.6 | |
| Line 89 | Structures (nonresidential) | LM705013665 | 308.6 | 325.9 | 334.5 | 390.8 | 464.6 | 465.6 | 474.8 | 484.0 |
| Line 90 | Equipment | LM705013265 | 103.4 | 114.4 | 120.9 | 132.1 | 146.1 | 152.5 | 162.7 | 178.5 |
| Line 91 | Intellectual property products | LM705013765 | 51.5 | 64.7 | 70.5 | 75.5 | 85.6 | 95.3 | 107.2 | 117.0 |
| Line 92 | Financial assets | FL704090005 | 20309.4 | 21276.0 | 24686.1 | 26885.1 | 26889.0 | 27474.4 | 27683.9 | 29147.6 |
| Line 93 | Currency and deposits | FL704000005 | 2892.2 | 2990.2 | 4510.4 | 5175.8 | 4232.8 | 4722.3 | 4380.2 | 4516.2 |
| Line 94 | Debt securities | LM704022005 | 4225.5 | 4559.7 | 5733.3 | 6931.9 | 6220.3 | 5930.9 | 6048.3 | 6407.7 |
| Line 95 | Open market paper | FL703069175 | 0.2 | 0.7 | 2.3 | 0.3 | 0.1 | 0.0 | 0.1 | 0.0 |
| Line 96 | Treasury securities | LM703061105 | 737.0 | 879.3 | 1203.2 | 1641.2 | 1579.7 | 1514.0 | 1722.7 | 1961.7 |
| Line 97 | Agency- and GSE-backed securities(2) | LM703061705 | 2449.7 | 2633.5 | 3374.3 | 3881.6 | 3212.8 | 3093.5 | 3060.4 | 3173.2 |
| Line 98 | Municipal securities | LM703062005 | 408.3 | 391.6 | 460.9 | 520.8 | 458.4 | 415.1 | 374.0 | 367.4 |
| Line 99 | Corporate and foreign bonds | LM703063005 | 630.4 | 654.6 | 692.7 | 888.0 | 969.4 | 908.4 | 891.1 | 905.4 |
| Line 100 | Loans | FL704035005 | 12101.7 | 12594.9 | 13101.5 | 13340.5 | 14773.1 | 15257.7 | 15694.3 | 16667.1 |
| Line 101 | Short-term | FL704041005 | 6661.2 | 6939.8 | 7363.4 | 7391.6 | 8158.0 | 8365.6 | 8664.7 | 9438.5 |
| Line 102 | Long-term | FL703065005 | 5440.4 | 5655.1 | 5738.1 | 5948.9 | 6615.2 | 6892.1 | 7029.6 | 7228.5 |
| Line 103 | Equity and investment fund shares | FL703081005 | 349.6 | 416.0 | 451.8 | 524.4 | 459.1 | 509.5 | 541.3 | 695.7 |
| Line 104 | Corporate equities | LM703064105 | 34.9 | 43.5 | 49.0 | 60.4 | 51.4 | 59.7 | 79.8 | 96.9 |
| Line 105 | Mutual fund shares | LM703064205 | 8.2 | 11.3 | 16.3 | 22.0 | 14.3 | 14.4 | 14.8 | 18.5 |
| Line 106 | Equity in government-sponsored enterprises(2) | FL703092405 | 33.1 | 28.5 | 18.8 | 15.4 | 35.6 | 35.5 | 32.0 | 28.7 |
| Line 107 | U.S. direct investment abroad: equity | LM763092100 | 241.0 | 300.9 | 335.3 | 392.7 | 322.8 | 363.8 | 377.5 | 512.4 |
| Line 108 | Stock in Federal Reserve Banks | FL713164003 | 32.3 | 31.7 | 32.4 | 33.9 | 35.0 | 36.1 | 37.2 | 39.2 |
| Line 109 | Insurance, pension and standardized guarantee schemes | FL763040005 | 172.1 | 178.8 | 184.8 | 198.2 | 204.7 | 202.7 | 207.0 | 213.2 |
| Line 110 | Other accounts receivable | FL703096105 | 568.3 | 536.5 | 704.3 | 714.3 | 998.9 | 851.3 | 812.9 | 647.7 |
| Line 111 | Total liabilities and net worth | FL702100005 | 20772.9 | 21781.0 | 25211.9 | 27483.5 | 27585.3 | 28187.7 | 28428.6 | 29927.0 |
| Line 112 | Liabilities | FL704194005 | 20969.8 | 22044.7 | 25325.9 | 27600.0 | 27865.3 | 28483.1 | 28881.6 | 30319.0 |
| Line 113 | Currency and deposits | FL704100005 | 16078.1 | 16953.2 | 20418.9 | 22620.5 | 22518.1 | 22468.4 | 22869.0 | 23977.6 |
| Line 114 | Debt securities | FL704122005 | 338.3 | 399.0 | 502.1 | 365.5 | 553.3 | 588.9 | 588.8 | 611.2 |
| Line 115 | Corporate bonds | FL763163005 | 180.8 | 201.7 | 256.5 | 191.7 | 259.9 | 254.5 | 239.5 | 243.6 |
| Line 116 | Commercial paper | FL703169175 | 157.5 | 197.3 | 245.7 | 173.8 | 293.4 | 334.4 | 349.3 | 367.5 |
| Line 117 | Loans (short-term) | FL704141005 | 1279.5 | 1251.7 | 1008.7 | 902.9 | 1328.7 | 1436.3 | 1262.8 | 1241.0 |
| Line 118 | Equity and investment fund shares | FL703181105 | 2466.0 | 2618.7 | 2748.9 | 2996.3 | 2687.5 | 2852.5 | 3055.2 | 3368.3 |
| Line 119 | Corporate equity issues | LM763164105 | 104.9 | 125.9 | 119.3 | 172.4 | 124.2 | 98.7 | 105.8 | 112.9 |
| Line 120 | Foreign direct investment in the U.S.: equity | LM753192103 | 311.4 | 360.1 | 417.6 | 471.9 | 351.0 | 426.4 | 522.8 | 630.6 |
| Line 121 | Equity investment by parent | FL703194605 | 2049.7 | 2132.7 | 2212.0 | 2352.0 | 2212.4 | 2327.4 | 2426.6 | 2624.8 |
| Line 122 | Other accounts payable | FL703196005 | 807.8 | 822.1 | 647.4 | 714.8 | 777.7 | 1137.0 | 1105.8 | 1120.9 |
| Line 123 | Net worth | FL702090095 | -196.8 | -263.7 | -114.0 | -116.5 | -279.9 | -295.5 | -453.0 | -392.0 |
Notes:
- Consists of rental income of tenant-occupied housing and proprietors' income. Quasi-corporations are unincorporated enterprises that function as if they were corporations; they primarily cover their operating costs through sales, and they keep a complete set of financial records.
- Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.
- The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.
- Excludes land.
Last Update: June 11, 2026