Distributional Financial Accounts

The Distributional Financial Accounts (DFAs) provide a quarterly measure of the distribution of U.S. household wealth since 1989, based on a comprehensive integration of disaggregated household-level wealth data with official aggregate wealth measures. The data set contains the level and share of each balance sheet item on the Financial Accounts' household wealth table (Table B.101.h), for various sub-populations in the United States. In our core data set, aggregate household wealth is allocated to each of four percentile groups of wealth: the top 1 percent, the next 9 percent (i.e., 90th to 99th percentile), the next 40 percent (50th to 90th percentile), and the bottom half (below the 50th percentile). Additionally, the data set contains the level and share of aggregate household wealth by income, age, generation, education, and race. The quarterly frequency makes the data useful for studying the business cycle dynamics of wealth concentration--which are typically difficult to observe in lower-frequency data because peaks and troughs often fall between times of measurement. These data will be updated about 10 or 11 weeks after the end of each quarter, making them a timely measure of the distribution of wealth.

Historical Data

Levels of Wealth by Wealth Percentile Groups: CSVData Dictionary
Shares of Wealth by Wealth Percentile Groups: CSV | Data Dictionary

Levels of Wealth by Other Socioeconomic Groups: ZIP | Data Dictionary
Shares of Wealth by Other Socioeconomic Groups: ZIP | Data Dictionary

View Interactive


The DFAs integrate two data products produced by the Federal Reserve Board: the Financial Accounts of the United States, which provide quarterly data on aggregate balance sheets of major sectors of the U.S. economy, and the Survey of Consumer Finances (SCF), which provides comprehensive triennial microdata on the assets and liabilities of a representative sample of U.S. households.

The DFAs use distributional information from the SCF to allocate the Financial Accounts aggregate measures of assets and liabilities to different wealth, income, and other socioeconomic sub-populations. Because the two datasets use somewhat different wealth concepts and are measured at different frequencies, there are three key steps in constructing the DFAs. The first step is to reconcile the concepts and measures used in the two datasets in order to obtain comparable household balance sheets. The second step is to transform the reconciled SCF balance sheet (which is measured every three years) into an up-to-date, quarterly balance sheet by interpolating the assets and liabilities for each sub-population on a quarterly basis between SCF surveys, and forecasting these balance sheets for each quarter beyond the most recent survey year. The final step is to calculate the shares of assets and liabilities held by the different groups each quarter from this quarterly version of the reconciled SCF data, and then distribute the Financial Accounts aggregates by applying these shares. The associated FEDS Note and FEDS Paper provide details on the construction of the core data set and a discussion of the main findings.

Back to Top
Last Update: June 19, 2020