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.


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323 entries in Financial Accounts Release Highlights

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Date Highlights Count
2017q1International banking facilities revision: Data for international banking facilities (IBFs) of U.S.-chartered depository institutions and foreign banking offices in the U.S. (included on tables F.111, F.112, L.111, and L.112) have been extended back to 1981:Q4, when IBFs were first established. Previously, IBF data began in 1985:Q4. Also, several IBF series have been revised for periods after 1985 due to updated methodology.1
2017q1Nonfinancial corporate business benchmark: Assets of the nonfinancial corporate business sector (tables F.103, L.103, B.103, and R.103) have been revised from 2015:Q1 forward to reflect new data from the Internal Revenue Service (IRS) Statistics of Income (SOI) for 2015.2
2016q4Nonprofit organizations tables updated and redesigned: The supplementary tables on nonprofit organizations (tables F.101.a and L.101.a) have been updated to include data from 1988 through 2013 and redesigned to more closely align with their source information. Nonprofit organizations include private foundations and organizations that are tax-exempt under Section 501(c)(3) through 501(c)(9) of the Internal Revenue code. Nonprofit organizations' holdings of debt securities are shown at market value. Nonprofit organizations are included in the households and nonprofit organizations sector (tables F.101, L.101, B.101, and R.101).3
2016q4Changes to the households and nonprofit organizations sector financial asset categories: A new line item for nonprofit organizations' holdings of trade receivables has been added to the households and nonprofit organizations sector tables (tables F.101, L.101, B.101, and R.101). The line item for nonprofit organizations' holdings of open market paper, previously shown on these tables, has been removed.4
2016q4Uninsured deposits shown for the depository institutions sectors: Memo items showing the amount of checkable and time and savings deposits not insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Share Insurance Fund (NCUSIF) have been added to the sector tables for private depository institutions (tables F.110 and L.110) and for the four depository subsectors: U.S.-chartered depository institutions (tables F.111 and L.111), foreign banking offices in U.S. (tables F.112 and L.112), banks in U.S.-affiliated areas (tables F.113 and L.113), and credit unions (tables F.114 and L.114). Data begin 2001:Q4. A forthcoming FEDS Note will provide additional information.5
2016q4Small and large time deposit detail removed: Detail on small and large time and savings deposits for private depository institutions has been removed from the time and savings deposits instrument table (tables F.205 and L.205). This detail has also been removed from the sector tables for private depository institutions (tables F.110 and L.110) and tables for the four depository subsectors: U.S.-chartered depository institutions (tables F.111 and L.111), foreig n banking offices in U.S. (tables F.112 and L.112), banks in U.S. -affiliated areas (tables F.113 and L.113), and credit unions (tables F.114 and L.114).6
2016q4Liability for securities lending collateral shown for insurance sectors: Insurance companies' liability for securities lending collateral is now shown as memo items on the sector tables for property-casualty insurance companies (tables F.115 and L.115) and life insurance companies (tables F.116 and L.116). Securities lending liabilities are included in other miscellaneous liabilities. Data begin 2007:Q1.7
2016q3Insurance debt securities reported at market value: Debt securities held by the property and casualty insurance companies sector (tables F.115 and L.115) and the life insurance companies sector (tables F.116, L.116, F.116.g, L.116.g, F.116.s, and L.116.s) are now reported at market value, consistent with the international standards described in the System of National Accounts (SNA2008). The market values begin in 1996:Q4 for life insurance companies and 2001:Q4 for property and casualty insurance companies.8
2016q3Nonadmitted assets held by insurance companies included in insurance sectors: Nonadmitted assets held by insurance companies are now included in both the property and casualty insurance companies sector (tables F.115 and L.115) and the life insurance companies sector (tables F.116, L.116, F.116.g, L.116.g, F.116.s, and L.116.s). Statutory insurance accounting categorizes assets that are not sufficiently liquid to support the firm's claims paying ability as nonadmitted assets. Nonadmitted assets have been added beginning 1996:Q4.9
2016q3Property and casualty insurance companies' unidentified miscellaneous assets and liabilities included: Unidentified miscellaneous assets and liabilities are now included in the property and casualty insurance companies sector (tables F.115 and L.115). Unidentified miscellaneous assets and liabilities have been added beginning 2001:Q4. Previously, miscellaneous assets and liabilities for the property and casualty insurance companies sector were only recorded in the Financial Accounts if they corresponded to identified miscellaneous financial instruments.10
2016q3New U.S. Intermediate Holding Companies of foreign banking organizations included in the holding companies sector: Due to new regulations implementing Section 165 of the DoddFrank Wall Street Reform and Consumer Protection Act, foreign banking organizations were required to establish new U.S. Intermediate Holding Companies (IHCs) to act as the parent of domestic subsidiaries. IHCs are required to file Federal Reserve Board Form FR Y-9LP, a data source for the Financial Accounts holding company sector (tables F.131 and L.131). IHCs' investment in subsidiaries is included in miscellaneous assets. Equity investment in the IHCs is shown as foreign direct investment, a new liability of the holding company sector (tables F.131, L.131, F.230, and L.230). Previously, this equity was recorded as foreign direct investment in securities brokers and dealers. Data begin 2015:Q3.11
2016q3Nonfinancial noncorporate business benchmark: Data for the noncorporate business sector (tables F.104, L.104, B.104, and R.104) have been revised to reflect new 2014 benchmark statistics from the Internal Revenue Service (IRS) Statistics of Income (SOI).12
2016q3International Data Submissions webpage updated: The International Data Submissions webpage in the Financial Accounts Guide has been updated. Annual SDMX data files are now available in addition to quarterly files for Organisation for Economic Co-operation and Development (OECD) submissions: https://www.federalreserve.gov/apps/fof/InternationalData.aspx.13
2016q2Revisions to the market value of residential real estate: The market value of residential real estate (tables B.101 and B.104) has been revised from 2000:Q1 forward to reflect revised data for the repeat-sales house-price index from LoanPerformance (a division of First American CoreLogic).14
2016q2Closed-end funds and exchange-traded funds now shown on separate tables: Closed-end funds are now shown separately on tables F.123 and L.123 and exchange-traded funds are now shown on tables F.124 and L.124. Previously, both sectors were shown on tables F.123 and L.123. The sector tables that follow have been renumbered.15
2016q2Closed-end funds' debt securities now reported at market value and new investment objective detail: Debt securities held by closed-end funds (tables F.123 and L.123) are now reported at market value, consistent with the international standards described in the System of National Accounts (SNA2008). New memo items show financial assets by investment objective: domestic equity funds, world equity funds, domestic taxable bond funds, municipal bond funds, and world bond funds. Investment objective data are available beginning 2007:Q1.16
2016q2Exchange-traded funds' debt securities now reported at market value and new investment objective detail: Debt securities held by exchange-traded funds (tables F.124 and L.124) are now reported at market value, consistent with the international standards described in the System of National Accounts (SNA2008). A new miscellaneous asset series reflects commodities, currencies, and futures; previously these assets were included with corporate equities. New memo items show financial assets by investment objective: domestic equity funds, world equity funds, commodity funds, hybrid funds, taxable bond funds, and municipal bond funds. Investment objective data are available beginning 2001:Q4.17
2016q2Private pension fund 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 beginning in 2014:Q1 to reflect new data from the U.S. Internal Revenue Service/Department of Labor/Pension Benefit Guaranty Corporation Form 5500 filed for plan year 2014.18
2016q2National income and product accounts annual revision: The statistics in this publication reflect the annual revisions to the national income and product accounts (NIPAs) from 2012:Q1 forward released by the Bureau of Economic Analysis (BEA) of the Department of Commerce on July 29, 2016, and subsequent information for 2016:Q2 released on August 26, 2016. The August 2016 issue of the Survey of Current Business provides details on the major features of this annual revision.19
2016q2Fixed assets annual revision: Data for investment and depreciation flows and capital stocks for all sectors have been revised beginning 2012 to reflect updated annual estimates of fixed assets from the BEA.20
2016q2Rest of the world sector revision: Revisions to the rest of the world sector (tables F.133 and L.133) reflect revised estimates of the U.S. international transactions accounts (ITAs) and the U.S. international investment position (IIP) accounts released by BEA for 2012:Q1 forward. BEA's changes are detailed in the July 2016 Survey of Current Business.21
2016q2Seasonal adjustment: Seasonal factors for quarterly flows have been recalculated for the period 2006:Q1 forward. The seasonal factors are generated using the X-12-ARIMA seasonal adjustment program by the U.S. Census Bureau.22
2016q2New Enhanced Financial Accounts projects: Two new Enhanced Financial Accounts (EFA) projects: (1) Funding Agreement-Backed Securities (FABS) and (2) International Portfolio Investment Holdings of Long-term Securities by Country have been added to the EFA page at www.federalreserve.gov/apps/fof/efa/enhancedfinancialaccounts.htm . More information about each of these EFA projects is available in the accompanying FEDS Notes: "Funding Agreement-Backed Securities in the Enhanced Financial Accounts" (Nathan Foley-Fisher, Ralf Meisenzahl, Borghan Narajabad, Maria Perozek, and Stephane Verani) and "International Portfolio Investment Holdings of Long-term Securities in the Enhanced Financial Accounts" (Elizabeth Holmquist, Max Miller, and Youngsuk Yook).23
2016q1Variable annuity mutual funds: The mutual fund sectors have been expanded to include variable annuity mutual funds, which are funding vehicles for variable annuities. Variable annuity mutual funds were previously included as part of corporate equities held in the separate accounts of life insurers (shown on life insurance sector tables F.116, L.116, F.116.s, and L.116.s), but are now included in the mutual fund sector (tables F.122 and L.122) and the money market mutual fund sector (tables F.121 and L.121). This aligns the treatment of variable annuity mutual funds with the fund data reported by the Investment Company Institute (ICI). Assets held in variable annuity mutual funds are shown as memo items on the mutual fund and money market mutual fund sector tables.24
2016q1Mutual funds' holdings of debt securities reported at market value: Debt securities held by the mutual fund sector (tables F.122 and L.122) are now reported at market value, consistent with the international standards described in the System of National Accounts (SNA2008).25
2016q1Mutual funds by investment objective: New memo items have been added to the mutual fund tables (tables F.122 and L.122) to show financial assets by investment objective: domestic equity funds, world equity funds, hybrid funds, taxable bond funds, and municipal bond funds. Data are available beginning in 1991:Q1.26
2016q1Life insurance company separate accounts: Data for life insurance company separate accounts (tables F.116.s and L.116.s) have been extended back to 1987:Q4. Previously, detail on life insurance companies general accounts and separate accounts was only available beginning 1997:Q4.27
2016q1Treatment of CREF assets: CREF assets are now treated as variable annuity mutual funds and are included in the holdings of mutual fund shares by state and local government employee defined contribution retirement funds (tables F.120.c and L.120.c) and private defined contribution pension plans (tables F.118.c and L.118.c). Previously, these tables showed the financial instrument detail underlying CREF's variable annuity mutual funds.28
2016q1Nonfinancial corporate business benchmark: Assets of the nonfinancial corporate business sector (tables F.103, L.103, B.103, and R.103) have been revised from 2014:Q1 forward, to reflect new data from the Internal Revenue Service (IRS) Statistics of Income (SOI) for 2014.29
2015q4Effective federal funds rate: A memo item showing the effective federal funds rate in percent is now included on the federal funds and security repurchase agreements instrument table (L.207). The effective federal funds rate is a weighted average of rates on brokered trades, annualized using a 360-day year.30
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