Release Highlights

With each Z.1 release, major data and structural revisions are highlighted at the beginning of the publication. This page consolidates these highlights in a searchable format for all releases beginning with 2004q1.


Search by:
           

422 entries in Financial Accounts Release Highlights

12345...Last Page
Date Highlights Count
2020q2Nonfinancial debt data visualizations:New data visualizations are available showing debt owed by households and nonprofit organizations, federal government and nonfinancial business sectors, with additional detail on the components of nonfinancial business debt.1
2020q2Other financial business sector funding, credit and liquidity facility special purpose vehicles:In response to the COVID-19 pandemic, the Federal Reserve System established five funding, credit, and liquidity facilities as special purpose vehicles (SPVs): the Corporate Credit Facilities (CCF), the Main Street Lending Program (MSLP), the Term Assets Lending Facility (TALF), the Municipal Liquidity Facility (MLF), and the Commercial Paper Funding Facility (CPFF). In the Financial Accounts of the United States, and consistent with System of National Accounts (SNA 2008) guidelines, these five SPVs are not consolidated in the monetary authority sector, but are instead treated as separate institutional units, included in the other financial business sector (tables F.132 and L.132). This treatment differs from the Federal Reserve H.4.1 release, which consolidates the SPVs on the Federal Reserve balance sheet. The SPVs were initially funded by Treasury equity investments to cover potential losses. Eighty-five percent was initially invested in nonmarketable Treasury securities and fifteen percent in cash deposits at the monetary authority. The SPVs make loans and asset purchases with additional borrowings from the monetary authority.2
2020q2Federal government sector equity investments in economic recovery programs:In response to the COVID-19 pandemic, Treasury made equity investments in the five funding, credit and liquidity facility SPVs mentioned above (CCF, MSLP, TALF, MLF, and CPFF) and the Money Market Mutual Fund Liquidity Facility (MMLF). The equity investments are shown as identified miscellaneous assets of the federal government (tables F.106 and L.106), identified miscellaneous liabilities of the other financial business sector for the CCF, MSLP, TALF, MLF, and CPFF (tables F.132 and L.132), and the monetary authority sector for the MMLF (table F.109 and L.109).3
2020q2Monetary authority sector loans to funding, credit and liquidity facility special purpose vehicles: The monetary authority sector (tables F.109 and L.109) has been modified to include loans made to the five new funding, credit and liquidity facility SPVs (CCF, MSLP, TALF, MLF, and CPFF) classified in the other financial business sector (tables F.132 and L.132).4
2020q2Paycheck Protection Program Liquidity Facility loans:The monetary authority sector (tables F.109 and L.109) has been modified to include loans made under the Paycheck Protection Program Liquidity Facility (PPPLF) to depository institutions, and finance companies.5
2020q2Paycheck Protection Program loans:Paycheck Protection Program (PPP) loans made to small businesses and nonprofit institutions impacted by the COVID-19 pandemic are not shown separately from other types of loans reported by lenders. PPP loans, the majority of which are made by U.S.-chartered depository institutions, are included in depository institutions loans not elsewhere classified (tables F.215 and L.215). PPP loans made by nondepository institutions are included in the other loans and advances (tables F.216 and L.216).6
2020q2Paycheck Protection Program loan forgiveness payables and receivables:Paycheck Protection Program (PPP) payable liabilities and receivable assets were added to the Financial Accounts trade receivables (tables F.225 and L.225) in order to align with the National Income and Product Accounts (NIPA) accrual treatment of PPP loan forgiveness subsidies to businesses and current transfers to nonprofit institutions serving households (NPISH) (see https://www.bea.gov/help/faq/1408 and https://www.bea.gov/recovery). PPP payable liabilities were added to the federal government sector to account for the accrued liability to repay PPP loans in future periods, and are equal to loan forgiveness subsidies to businesses and current transfers to NPISH reported in NIPA. PPP receivable assets were added to household and nonprofit organizations, nonfinancial corporate business, nonfinancial noncorporate business, and finance companies sectors.7
2020q2Balance sheet of domestic hedge funds supplementary table:A new balance sheet of domestic hedge funds (table B.101.f) was added showing assets and liabilities of U.S. domiciled hedge funds. Quarterly data are derived from aggregated Securities and Exchange Commission forms PF and ADV. Data begin 2012:Q4.8
2020q2Fixed asset supplementary tables:Four new fixed assets tables were added: Gross fixed investment (table F.4.g), Consumption of fixed capital (table F.4.c), Net fixed investment (table F.4.f), and Net stocks of fixed assets at current cost (table L.4.s). Aggregate data reported from BEA; financial subsector data estimated by FRB staff.9
2020q2State and local government employee defined benefit retirement funds:State and local government employee defined benefit retirement funds (tables F.120.b and L.120.b) have been revised to incorporate methodology changes to the Census Quarterly Survey of Public Pensions from 2018:Q3 forward.10
2020q2Private pension benchmark:Assets of the private pension fund sector (tables F.118, F.118.b, F.118.c, L.118, L.118.b, and L.118.c) have been revised 2016:Q1 forward to reflect updated 2016 data and new data for plan year 2017 from U.S. Internal Revenue Service/Department of Labor/Pension Benefit Guaranty Corporation Form 5500.11
2020q2National Income and Product Accounts annual update:The statistics in this publication reflect the 2020 annual update of the National Income and Product Accounts (NIPAs) released by the Bureau of Economic Analysis (BEA) on July 30, 2020, as well as information for 2020:Q2 released by BEA on August 27, 2020. See the September 2020 issue of the Survey of Current Business at https://apps.bea.gov/scb/ for details on the 2020 annual update.12
2020q2Fixed assets annual update:Investment, depreciation, and capital stock data for all private sectors have been revised beginning in 2015 to reflect updated annual estimates of fixed assets from BEA.13
2020q2Rest of the world sector:The rest of the world sector (tables F.133 and L.133) has been revised from 2017:Q1 forward to reflect new data from BEA for the U.S. international transactions accounts and the U.S. international investment positions accounts. BEA's changes are detailed in the July 2020 issue of the Survey of Current Business.14
2020q2Seasonal adjustment: Seasonal factors for quarterly transactions have been recalculated from 2010:Q1 forward. Seasonal factors are generated using the X-13-ARIMA seasonal adjustment program from the U.S. Census Bureau. Seasonal factors on marketable Treasury security issuance and purchases were set to zero in 2020:Q1 and 2020:Q2 in light of unusual activity in response to the COVID-19 pandemic and the extension of the tax filing deadline.15
2020q1Improved Recent Developments: A new Recent Developments page has been added to the Z.1 release page. The Recent Developments page includes new analysis and charts related to recent events and developments in the Financial Accounts of the United States. The new page can be found at https://www.federalreserve.gov/releases/z1/20200611/html/recent_developments.htm16
2020q1Monetary authority sector: The monetary authority sector (tables F.109 and L.109) have been modified to include expanded detail on Federal Reserve facilities, including interbank loans associated with the Money Market Mutual Fund Liquidity Facility (MMLF), and depository institution loans n.e.c. associated with the MMLF and the Primary Dealer Credit Facility (PDCF).17
2020q1Designated financial market utility deposits at Federal Reserve banks: Deposits of designated financial market utilities (DFMU) at Federal Reserve banks have been added to the checkable deposits and currency liabilities of the monetary authority sector (tables F.109 and L.109). DFMU deposits were previously included in other miscellaneous liabilities of the monetary authority. DFMU deposits at the Federal Reserve banks are now reported as assets of the other financial business sector (tables F.132 and L.132).18
2020q1Nonfinancial noncorporate business sector: Nonfinancial noncorporate business sector data (tables F.104, L.104, B.104, and R.104) has revised from 2010:Q4 forward due to improved methodology and to reflect new benchmark data from the Internal Revenue Service Statistics of Income for 2017.19
2020q1Nonfinancial corporate business sector: Nonfinancial corporate business sector data (tables F.103, L.103, B.103, and R.103) has revised from 2018:Q1 forward to reflect new benchmark data from the Internal Revenue Service Statistics of Income for 2018.20
2020q1Consumer credit: Total consumer credit (tables F.222 and L.222) has been revised from 2010:Q1 forward owing to new seasonal factors reflected in the Federal Reserve Board's G.19 statistical release on April 7, 2020.21
2020q1Susan Hume McIntosh: This is the last publication led by Susan Hume McIntosh, who will retire in August, 2020. Susan joined the Federal Reserve Board of Governors in September, 1972, and for decades led the publication of the Financial Accounts of the United States. She spearheaded countless innovations to the Financial Accounts, trained generations of analysts, has worked with numerous statistical agencies in other countries and international organizations, and is considered a leading international expert on financial accounts. The Flow of Funds team cannot thank Susan enough for her invaluable contributions, and wishes her the best in her retirement. We hope that she will continue to contribute to the national accounting community in the United States and worldwide.22
2019q4Household Balance Sheet and Changes in Net Worth data visualizations: Household Balance Sheet and Changes in Net Worth data visualizations added detail on directly and indirectly held debt securities. These data can be found at https://www.federalreserve.gov/releases/z1/dataviz/z1/balance_sheet/chart/23
2019q4Total mortgages instrument table: The format of the total mortgages instrument tables (tables F.217 and L.217) has changed, and now includes additional detail on holdings of institutions that compose the federal government, government-sponsored enterprises, and agencyand GSE-backed mortgage pools sectors. This expansion corresponds to the Federal Reserve's Mortgage Debt Outstanding table, which now shows a mapping to Financial Accounts' series and can be accessed at https://www.federalreserve.gov/data/mortoutstand/default.htm. In addition, home mortgages have been renamed one-to-four-family residential mortgages.24
2019q4State and local governments sector: Transactions of debt securities held by state and local governments (table F.107) have been revised beginning 2003:Q2 to remove holding gains and losses. Levels were already reported at market value.25
2019q4Security brokers and dealers: Transactions of debt securities held by security brokers and dealers (table F.130) have been revised beginning 2000:Q1 to remove holding gains and losses. Levels were already reported at market value.26
2019q4Closely held equity: Closely held equity of the nonfinancial corporate business sector (L.223, line 5) and financial corporations (L.223, line 8) has been revised beginning 1996:Q4 due to a change in underlying source data.27
2019q3Distributional Financial Accounts - additional breakdowns: Additional breakdowns for the level and share of aggregate household wealth by income, age, generation, education, and race were added to the Distributional Financial Accounts (DFA) on September 27, 2019. These data can be found at https://www.federalreserve.gov/releases/efa/efa-distributionalfinancial-accounts.htm.28
2019q3Restructure of net worth tables: Tables showing changes in net worth for households and nonprofit organizations (R.101), nonfinancial corporate business (R.103), and nonfinancial noncorporate business (R.104) have been restructured to show additional detail for net investment and to group net holding gains by balance sheet classification.29
2019q3Methodology change for equity foreign direct investment: Total liabilities of several financial sectors were revised upward due to a correction in the treatment of the equity portion of foreign direct investment. The following sectors were affected: property-casualty insurance companies (tables F.115 and L.115); life insurance companies (tables F.116 and L.116); finance companies (tables F.128 and L.128); security brokers and dealers (tables F.130 and L.130); and holding companies (tables F.131 and L.131).30
12345...Last Page