Financial Accounts of the United States - Z.1
S.6.a Financial business1
Billions of dollars
| Line | Description | Series | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current account | ||||||||||
| Line 1 | Gross value added | FA796902505 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 2 | Less: Consumption of fixed capital | FA796330081 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 3 | Equals: Net value added | FA796902605 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 4 | Compensation of employees (paid) | FA796025005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 5 | Wages and salaries | FA796020001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 6 | Employers' social contributions | FA796401001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 7 | Taxes on production and imports less subsidies | FA796240101 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 8 | Operating surplus, net | FA796402101 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 9 | Net national income/Balance of primary incomes, net | FA796140005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 10 | Operating surplus, net | FA796402101 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 11 | Property income (received) | FA796150105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 12 | Interest | FA796130101 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 13 | Distributed income of corporations (dividends) | FA796121101 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 14 | Reinvested earnings on U.S. direct investment abroad | FA793092281 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 15 | Less: Uses of property income (paid) | FA796150005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 16 | Interest | FA796130001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 17 | Distributed income of corporations | FA796120005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 18 | Dividends | FA796121001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 19 | Withdrawals from income of quasi-corporations2 | FA796122001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 20 | Reinvested earnings on foreign direct investment | FA793192281 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 21 | Rents on land and natural resources | FA796112001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 22 | Net national income/Balance of primary incomes, net | FA796140005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 23 | Less: Current taxes on income, wealth, etc. (paid) | FA796220001 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 24 | Less: Other current transfers (paid) | FA796403005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 25 | Equals: Disposable income, net | FA796012095 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 26 | Equals: Net saving | FA796012095 | -- | -- | -- | -- | -- | -- | -- | -- |
| Capital account | ||||||||||
| Line 27 | Net saving less capital transfers | FA796006385 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 28 | Net saving | FA796012095 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 29 | Less: Capital transfers paid (net) | FA795440005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 30 | Capital formation, net | FA795015085 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 31 | Gross fixed capital formation (nonresidential) | FA795013005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 32 | Less: Consumption of fixed capital | FA796330081 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 33 | Net lending (+) or borrowing (-), capital account (lines 27-30) | FA795000995 | -- | -- | -- | -- | -- | -- | -- | -- |
| Financial account | ||||||||||
| Line 34 | Net lending (+) or borrowing (-) (line 33) | FA795000995 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 35 | Net acquisition of financial assets | FA794090005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 36 | Currency and deposits | FA794000005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 37 | Debt securities | FA794022005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 38 | Open market paper | FA793069175 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 39 | Treasury securities | FA793061105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 40 | Agency- and GSE-backed securities3 | FA793061705 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 41 | Municipal securities | FA793062005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 42 | Corporate and foreign bonds | FA793063005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 43 | Loans | FA794035005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 44 | Short term | FA794041005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 45 | Long term | FA794042005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 46 | Equity and investment fund shares | FA793081005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 47 | Corporate equities | FA793064105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 48 | Mutual fund shares | FA793064205 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 49 | Money market fund shares | FA793034005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 50 | Equity in government-sponsored enterprises3 | FA793092405 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 51 | U.S. direct investment abroad: equity | FA793092105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 52 | Stock in Federal Reserve Banks | FA713164003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 53 | Equity investment in subsidiaries | FA793094605 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 54 | Insurance, pension and standardized guarantee schemes | FA793052005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 55 | Other accounts receivable | FA793096005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 56 | Net incurrence of liabilities | FA794194005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 57 | Currency and deposits | FA794100005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 58 | Debt securities | FA794122005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 59 | Agency- and GSE-backed securities3 | FA423161705 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 60 | Corporate bonds | FA793163005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 61 | Commercial paper | FA793169175 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 62 | Loans | FA794135005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 63 | Short term | FA794141005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 64 | Long term | FA793192305 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 65 | Equity and investment fund shares | FA793181005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 66 | Money market fund shares | FA634090005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 67 | Corporate equity issues | FA793164105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 68 | Mutual fund shares | FA653164205 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 69 | Equity in government-sponsored enterprises3 | FA403192405 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 70 | Foreign direct investment in the U.S.: equity | FA793192105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 71 | Equity in noncorporate business | FA662090003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 72 | Equity investment by parent | FA793194605 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 73 | Equity in Federal Reserve Banks | FA713164005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 74 | Equity investment in Federal Reserve facilities | FA503194205 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 75 | Insurance, pension and standardized guarantee schemes | FA583152005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 76 | Other accounts payable | FA793196005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Addendum: | ||||||||||
| Line 77 | Net lending (+) or borrowing (-), financial account (lines 35-56) | FA795000005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Other changes in volume account | ||||||||||
| Line 78 | Total other volume changes | FV798090185 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 79 | Disaster losses | FV795013865 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 80 | Other volume changes | FV798090085 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 81 | Less: Statistical discrepancy (lines 33-77)4 | FU797005045 | -- | -- | -- | -- | -- | -- | -- | -- |
| Revaluation account | ||||||||||
| Line 82 | Nonfinancial assets | FR795013865 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 83 | Structures (nonresidential) | FR795013665 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 84 | Equipment | FR795013265 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 85 | Intellectual property products | FR795013765 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 86 | Financial assets | FR794090005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 87 | Currency and deposits | FR794000005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 88 | Debt securities | FR794022005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 89 | Loans | FR794035005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 90 | Corporate equities | FR793064105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 91 | Mutual fund shares | FR793064205 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 92 | U.S. direct investment abroad: equity | FR793092105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 93 | Insurance, pension, and standardized guarantee schemes | FR793052005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 94 | Other accounts receivable | FR793096005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 95 | Liabilities | FR794194005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 96 | Foreign direct investment in the U.S.: debt | FR793192305 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 97 | Corporate equity issues | FR793164105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 98 | Mutual fund shares | FR653164205 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 99 | Foreign direct investment in the U.S.: equity | FR793192105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 100 | Equity in noncorporate business | FR662090003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 101 | Equity investment by parent | FR793194605 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 102 | Insurance, pension and standardized guarantee schemes | FR583152005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 103 | Other accounts payable | FR793196005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 104 | Changes in net worth due to nominal holding gains/losses | FR792090095 | -- | -- | -- | -- | -- | -- | -- | -- |
| Changes in balance sheet account | ||||||||||
| Line 105 | Change in net worth (lines 30+33+78+104) | FC792090095 | -- | -- | -- | -- | -- | -- | -- | -- |
| Balance sheet account (end of period) | ||||||||||
| Line 106 | Total assets | FL792000095 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 107 | Nonfinancial assets5 | LM795013865 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 108 | Structures (nonresidential) | LM795013665 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 109 | Equipment | LM795013265 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 110 | Intellectual property products | LM795013765 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 111 | Financial assets | FL794090005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 112 | Currency and deposits | FL794000005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 113 | Debt securities | FL794022005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 114 | Open market paper | FL793069175 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 115 | Treasury securities | FL793061105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 116 | Agency- and GSE-backed securities3 | FL793061705 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 117 | Municipal securities | FL793062005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 118 | Corporate and foreign bonds | FL793063005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 119 | Loans | FL794035005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 120 | Short term | FL794041005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 121 | Long term | FL794042005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 122 | Equity and investment fund shares | FL793081005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 123 | Corporate equities | LM793064105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 124 | Mutual fund shares | LM793064205 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 125 | Money market fund shares | FL793034005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 126 | Equity in government-sponsored enterprises3 | FL793092405 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 127 | U.S. direct investment abroad: equity | LM793092105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 128 | Stock in Federal Reserve Banks | FL713164003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 129 | Equity investment in subsidiaries | FL793094605 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 130 | Insurance, pension and standardized guarantee schemes | FL793052005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 131 | Other accounts receivable | FL793096005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 132 | Total liabilities and net worth | FL792100005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 133 | Liabilities | FL794194005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 134 | Currency and deposits | FL794100005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 135 | Debt securities | FL794122005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 136 | Agency- and GSE-backed securities3 | FL423161705 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 137 | Corporate bonds | FL793163005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 138 | Commercial paper | FL793169175 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 139 | Loans | FL794135005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 140 | Short term | FL794141005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 141 | Long term | FL793192305 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 142 | Equity and investment fund shares | FL793181005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 143 | Money market fund shares | FL634090005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 144 | Corporate equity issues | LM793164105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 145 | Mutual fund shares | LM653164205 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 146 | Equity in government-sponsored enterprises3 | FL403192405 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 147 | Foreign direct investment in the U.S.: equity | LM793192105 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 148 | Equity in noncorporate business | LM662090003 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 149 | Equity investment by parent | FL793194605 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 150 | Equity in Federal Reserve Banks | FL713164005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 151 | Equity investment in Federal Reserve facilities | FL503194205 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 152 | Insurance, pension and standardized guarantee schemes | FL583152005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 153 | Other accounts payable | FL793196005 | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 154 | Net worth | FL792090095 | -- | -- | -- | -- | -- | -- | -- | -- |
Notes:
- Financial business includes depository institutions, insurance companies, pension funds, monetary authority, and other financial institutions. Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.
- 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. Includes corporate and noncorporate financial business.
Last Update: March 9, 2026