Financial Accounts of the United States - Z.1
F.5 Net Capital Transfers (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates| Description | Series code | 2022 | 2023 | 2024 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| All sectors; capital transfers paid | FA895410005 | 340.2 | 328.3 | 303.5 | 210.0 | 340.7 | 425.5 | 358.7 | 179.0 | 181.7 | 1 |
| Domestic business; capital transfers paid | FA825410005 | 68.7 | 0.0 | 38.8 | 1.8 | 60.3 | 69.2 | 116.6 | 9.4 | 9.4 | 2 |
| Domestic financial sectors; capital transfers paid | FA795410005 | 29.2 | 0.0 | 26.0 | 0.0 | 46.8 | 57.1 | 109.5 | 2.3 | 2.3 | 3 |
| Property-casualty insurance companies; capital transfers paid, disaster-related insurance benefits | FA515410073 | 25.5 | 0.0 | 24.3 | 0.0 | 42.3 | 54.9 | 107.2 | 0.0 | 0.0 | 4 |
| Domestic financial sectors; capital transfers paid, other than for disasters | FA795410003 | 3.7 | 0.0 | 1.7 | 0.0 | 4.5 | 2.2 | 2.3 | 2.3 | 2.3 | 5 |
| Nonfinancial corporate business; capital transfers paid (includes disaster-related payments by BP to state and local governments) | FA105410003 | 39.5 | 0.0 | 12.9 | 1.8 | 13.5 | 12.1 | 7.0 | 7.0 | 7.0 | 6 |
| Nonfinancial noncorporate business; capital transfers paid | FA115410003 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7 |
| General government; capital transfers paid | FA365410005 | 222.3 | 285.4 | 214.5 | 170.3 | 238.6 | 273.9 | 167.8 | 133.3 | 134.5 | 8 |
| Federal government; capital transfers paid | FA315410005 | 219.8 | 285.4 | 211.0 | 170.3 | 234.6 | 263.9 | 167.8 | 133.3 | 134.5 | 9 |
| State and local governments; capital transfers received, investment grants from federal government | FA215400033 | 182.3 | 88.1 | 117.9 | 96.2 | 101.1 | 181.0 | 107.6 | 105.0 | 107.4 | 10 |
| Federal government; capital transfers paid, disaster-related insurance benefits | FA315410073 | 10.0 | 0.0 | 9.0 | 0.0 | 22.0 | 14.0 | 0.0 | 0.0 | 0.0 | 11 |
| Federal government; capital transfers paid to financial corporations under the financial stabilization program (2) | FA315410093 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 12 |
| Federal government; other capital transfers paid to business | FA315410043 | 9.2 | 46.7 | 19.1 | 1.3 | 47.5 | 11.5 | 20.1 | 5.1 | 3.7 | 13 |
| Federal government; other capital transfers paid to households | FA315410053 | 9.4 | 143.0 | 55.2 | 64.2 | 48.6 | 50.1 | 31.9 | 15.0 | 17.9 | 14 |
| Federal government; capital transfers paid to the rest of the world | FA315410063 | 8.9 | 7.6 | 9.9 | 8.6 | 15.4 | 7.3 | 8.2 | 8.1 | 5.5 | 15 |
| State and local governments; capital transfers paid, disaster-related insurance benefits | FA215410073 | 2.5 | 0.0 | 3.5 | 0.0 | 4.0 | 10.0 | 0.0 | 0.0 | 0.0 | 16 |
| State and local governments; capital transfers paid, disaster-related insurance benefits | FA215410073 | 2.5 | 0.0 | 3.5 | 0.0 | 4.0 | 10.0 | 0.0 | 0.0 | 0.0 | 17 |
| Households and nonprofit organizations; capital transfers paid; estate and gift taxes | FA155410035 | 40.9 | 42.9 | 37.5 | 37.9 | 36.1 | 37.3 | 38.8 | 36.4 | 37.9 | 18 |
| Federal government; capital transfers received, estate and gift taxes paid by persons | FA315400053 | 32.8 | 34.9 | 29.7 | 30.3 | 28.3 | 29.2 | 30.6 | 28.1 | 29.6 | 19 |
| State and local governments; capital transfers received, estate and gift taxes paid by persons | FA215400053 | 8.0 | 8.0 | 7.8 | 7.7 | 7.8 | 8.0 | 8.2 | 8.3 | 8.4 | 20 |
| Rest of the world; capital transfers paid | FA265410005 | 8.3 | 0.0 | 12.7 | 0.0 | 5.7 | 45.1 | 35.5 | 0.0 | 0.0 | 21 |
| Rest of the world; capital transfers paid, disaster-related insurance benefits | FA265410073 | 8.3 | 0.0 | 12.7 | 0.0 | 5.7 | 45.1 | 35.5 | 0.0 | 0.0 | 22 |
| Rest of the world; capital transfers paid, other than for disasters | FA265410003 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 23 |
| All sectors; capital transfers received | FA895400005 | 340.2 | 328.3 | 303.5 | 210.0 | 340.7 | 425.5 | 358.7 | 179.0 | 181.7 | 24 |
| Domestic business; capital transfers received | FA825400005 | 27.9 | 46.7 | 39.7 | 1.3 | 77.8 | 63.7 | 67.4 | 5.1 | 3.7 | 25 |
| Domestic financial sectors; capital transfers received | FA795400005 | 8.5 | 45.9 | 1.2 | 0.0 | 1.5 | 3.1 | 1.7 | 0.0 | 0.0 | 26 |
| Property-casualty insurance companies; capital transfers received, disaster-related insurance benefits | FA515400073 | 1.0 | 0.0 | 1.2 | 0.0 | 1.5 | 3.1 | 1.7 | 0.0 | 0.0 | 27 |
| Domestic financial sectors; capital transfers received, other | FA795400003 | 7.6 | 45.9 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 28 |
| Nonfinancial corporate business; capital transfers received | FA105400005 | 9.3 | 0.8 | 29.6 | 1.3 | 61.4 | 39.7 | 35.3 | 5.1 | 3.7 | 29 |
| Nonfinancial corporate business; capital transfers received, disaster-related insurance benefits | FA105400073 | 8.7 | 0.0 | 10.5 | 0.0 | 13.9 | 28.2 | 15.2 | 0.0 | 0.0 | 30 |
| Nonfinancial corporate business; capital transfers received, other | FA105400003 | 0.6 | 0.8 | 19.1 | 1.3 | 47.5 | 11.5 | 20.1 | 5.1 | 3.7 | 31 |
| Nonfinancial noncorporate business; capital transfers received | FA115400005 | 10.1 | 0.0 | 8.9 | 0.0 | 14.8 | 20.8 | 30.5 | 0.0 | 0.0 | 32 |
| Nonfinancial noncorporate business; capital transfers received, disaster-related insurance benefits | FA115400075 | 9.0 | 0.0 | 8.9 | 0.0 | 14.8 | 20.8 | 30.5 | 0.0 | 0.0 | 33 |
| Nonfinancial noncorporate business; capital transfers received, other | FA115400003 | 1.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 34 |
| General government; capital transfers received | FA365400005 | 265.2 | 131.0 | 167.3 | 135.9 | 159.3 | 242.2 | 161.3 | 150.8 | 154.6 | 35 |
| Federal government; capital transfers received, total | FA315400005 | 32.8 | 34.9 | 36.4 | 30.3 | 46.3 | 38.0 | 40.0 | 37.4 | 38.9 | 36 |
| Federal government; capital transfers received, estate and gift taxes paid by persons | FA315400053 | 32.8 | 34.9 | 29.7 | 30.3 | 28.3 | 29.2 | 30.6 | 28.1 | 29.6 | 37 |
| Federal government; capital transfers received, other | FA315400003 | 0.0 | 0.0 | 6.7 | 0.0 | 18.0 | 8.8 | 9.4 | 9.4 | 9.4 | 38 |
| State and local governments; capital transfers received | FA215400005 | 232.3 | 96.1 | 130.9 | 105.7 | 113.0 | 204.1 | 121.3 | 113.4 | 115.7 | 39 |
| State and local governments; capital transfers received, disaster-related insurance benefits | FA215400073 | 2.7 | 0.0 | 3.4 | 0.0 | 4.1 | 9.6 | 5.5 | 0.0 | 0.0 | 40 |
| State and local governments; capital transfers received, estate and gift taxes paid by persons | FA215400053 | 8.0 | 8.0 | 7.8 | 7.7 | 7.8 | 8.0 | 8.2 | 8.3 | 8.4 | 41 |
| State and local governments; capital transfers received, investment grants from federal government | FA215400033 | 182.3 | 88.1 | 117.9 | 96.2 | 101.1 | 181.0 | 107.6 | 105.0 | 107.4 | 42 |
| State and local governments; capital transfers received, other (includes disaster-related payments by BP to state and local governments for the 2010 Gulf oil spill) | FA215400003 | 39.3 | 0.0 | 1.8 | 1.8 | 0.0 | 5.5 | 0.0 | 0.0 | 0.0 | 43 |
| Households and nonprofit organizations; capital transfers received | FA155400005 | 38.0 | 143.0 | 86.7 | 64.2 | 88.3 | 112.4 | 121.8 | 15.0 | 17.9 | 44 |
| Households and nonprofit organizations; capital transfers received, disaster-related insurance benefits | FA155400073 | 24.9 | 0.0 | 25.5 | 0.0 | 39.6 | 62.2 | 89.9 | 0.0 | 0.0 | 45 |
| Households and nonprofit organizations; capital transfers received, other | FA155400003 | 13.1 | 143.0 | 61.2 | 64.2 | 48.6 | 50.1 | 31.9 | 15.0 | 17.9 | 46 |
| Rest of the world; capital transfers received | FA265400005 | 9.2 | 7.6 | 9.9 | 8.6 | 15.4 | 7.3 | 8.2 | 8.1 | 5.5 | 47 |
| Rest of the world; capital transfers received from U.S. government | FA265400033 | 8.9 | 7.6 | 9.9 | 8.6 | 15.4 | 7.3 | 8.2 | 8.1 | 5.5 | 48 |
| Rest of the world; capital transfers received, disaster-related insurance benefits | FA265400073 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 49 |
| Rest of the world; capital transfers received, other | FA265400003 | 0.2 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 50 |
| Domestic business; net capital transfers paid | FA825440005 | 40.8 | -46.7 | -0.9 | 0.5 | -17.5 | 5.5 | 49.1 | 4.2 | 5.6 | 51 |
| Domestic financial sectors; net capital transfers paid | FA795440005 | 20.7 | -45.9 | 24.8 | 0.0 | 45.2 | 53.9 | 107.9 | 2.3 | 2.3 | 52 |
| Property-casualty insurance companies; net capital transfers paid | FA515440005 | 24.5 | 0.0 | 23.1 | 0.0 | 40.7 | 51.7 | 105.5 | 0.0 | 0.0 | 53 |
| Life insurance companies; capital transfers paid, tax on foreign earnings retained abroad | FA545410003 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 54 |
| U.S.-chartered depository institutions; net capital transfers paid | FA765440005 | 3.7 | 0.0 | 1.7 | 0.0 | 4.5 | 2.2 | 2.3 | 2.3 | 2.3 | 55 |
| Private defined benefit pension funds; net capital transfers paid, other | FA575440043 | -7.6 | -45.9 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 56 |
| Government-sponsored enterprises; capital transfers received from the federal government | FA405400033 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 57 |
| Finance companies; capital transfers paid, tax on foreign earnings retained abroad | FA615410003 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 58 |
| Holding companies; capital transfers paid, tax on foreign earnings retained abroad | FA735410003 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 59 |
| Holding companies; capital transfers received by GMAC from the federal government under the financial stabilization program | FA735400033 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 60 |
| Other financial business; capital transfers received by AIG from the federal government under the financial stabilization program | FA505400033 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 61 |
| Nonfinancial corporate business; net capital transfers paid | FA105440005 | 30.3 | -0.8 | -16.8 | 0.5 | -47.9 | -27.7 | -28.3 | 1.9 | 3.3 | 62 |
| Nonfinancial noncorporate business; net capital transfers paid | FA115440005 | -10.1 | 0.0 | -8.9 | 0.0 | -14.8 | -20.8 | -30.5 | 0.0 | 0.0 | 63 |
| General government; net capital transfers paid | FA365440005 | -42.8 | 154.4 | 47.2 | 34.3 | 79.3 | 31.7 | 6.5 | -17.5 | -20.2 | 64 |
| Federal government; net capital transfers paid | FA315440005 | 187.0 | 250.5 | 174.6 | 140.0 | 188.3 | 225.9 | 127.8 | 95.8 | 95.6 | 65 |
| State and local governments; net capital transfers paid | FA215440005 | -229.8 | -96.1 | -127.4 | -105.7 | -109.0 | -194.1 | -121.3 | -113.4 | -115.7 | 66 |
| Households and nonprofit organizations; net capital transfers paid | FA155440005 | 2.9 | -100.1 | -49.2 | -26.2 | -52.2 | -75.1 | -82.9 | 21.4 | 20.0 | 67 |
| Rest of the world; net capital transfers paid | FA265440005 | -0.9 | -7.6 | 2.9 | -8.6 | -9.6 | 37.9 | 27.4 | -8.1 | -5.5 | 68 |
NOTES
- This table is based on NIPA table 5.11 in the Survey of Current Business, Bureau of Economic Analysis (www.bea.gov).
- Series treated as capital losses in the financial corporations sectors rather than as capital transfers in the Financial Accounts of the United States.
Last Update: January 9, 2026