Financial Accounts of the United States - Z.1
L.125 Government-sponsored enterprises (GSEs)1
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
| Line | Description | Series | 2023 | 2024 | 2025 | 2024:Q3 | 2024:Q4 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Total financial assets | FL404090005 | 9341.2 | 9531.6 | 9655.5 | 9415.9 | 9531.6 | 9530.9 | 9637.8 | 9626.0 | 9655.5 |
| Line 2 | Checkable deposits and currency | FL403020005 | 47.0 | 23.8 | 21.5 | 22.2 | 23.8 | 22.8 | 20.8 | 20.7 | 21.5 |
| Line 3 | Time and savings deposits | FL403030005 | 24.2 | 27.2 | 28.8 | 28.1 | 27.2 | 28.0 | 28.6 | 29.5 | 28.8 |
| Line 4 | Federal funds and security repos | FL402050005 | 272.2 | 341.0 | 322.3 | 303.9 | 341.0 | 356.5 | 361.7 | 344.4 | 322.3 |
| Line 5 | Debt securities | LM404022005 | 456.4 | 520.7 | 577.2 | 490.8 | 520.7 | 535.4 | 570.7 | 571.6 | 577.2 |
| Line 6 | Open market paper | FL403069105 | 11.6 | 8.7 | 6.1 | 10.4 | 8.7 | 8.5 | 8.1 | 6.5 | 6.1 |
| Line 7 | Treasury securities | LM403061105 | 163.6 | 224.0 | 246.5 | 191.0 | 224.0 | 232.3 | 257.9 | 254.7 | 246.5 |
| Line 8 | Agency- and GSE-backed securities | LM403061705 | 264.2 | 271.2 | 303.2 | 272.5 | 271.2 | 277.5 | 283.5 | 289.2 | 303.2 |
| Line 9 | Municipal securities | LM403062005 | 2.2 | 2.3 | 2.5 | 2.3 | 2.3 | 2.4 | 2.6 | 2.5 | 2.5 |
| Line 10 | Corporate and foreign bonds | LM403063005 | 14.8 | 14.3 | 19.1 | 14.6 | 14.3 | 14.8 | 18.6 | 18.7 | 19.1 |
| Line 11 | Loans | FL404023005 | 8415.3 | 8504.2 | 8576.7 | 8451.6 | 8504.2 | 8473.8 | 8537.8 | 8535.9 | 8576.7 |
| Line 12 | Other loans and advances | FL403069305 | 987.6 | 950.8 | 908.4 | 949.8 | 950.8 | 914.5 | 962.4 | 913.5 | 908.4 |
| Line 13 | Sallie Mae | FL403069385 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 14 | Farm Credit System | FL403069345 | 203.5 | 224.8 | 242.5 | 213.7 | 224.8 | 227.4 | 227.7 | 227.5 | 242.5 |
| Line 15 | FHLB | FL403069330 | 784.1 | 725.9 | 666.0 | 736.0 | 725.9 | 687.1 | 734.7 | 686.0 | 666.0 |
| Line 16 | Mortgages | FL403065005 | 7427.7 | 7553.5 | 7668.2 | 7501.9 | 7553.5 | 7559.2 | 7575.5 | 7622.4 | 7668.2 |
| Line 17 | One-to-four-family residential | FL403065105 | 6719.7 | 6769.2 | 6784.9 | 6754.5 | 6769.2 | 6765.2 | 6770.5 | 6781.3 | 6784.9 |
| Line 18 | Consolidated trusts2 | FL403065195 | 6555.3 | 6592.4 | 6578.3 | 6576.6 | 6592.4 | 6593.1 | 6599.9 | 6584.7 | 6578.3 |
| Line 19 | Other | FL403065185 | 164.4 | 176.8 | 206.6 | 177.9 | 176.8 | 172.1 | 170.5 | 196.6 | 206.6 |
| Line 20 | Multifamily residential | FL403065405 | 530.4 | 591.0 | 678.2 | 558.2 | 591.0 | 598.1 | 606.2 | 639.0 | 678.2 |
| Line 21 | Consolidated trusts2 | FL403065495 | 506.5 | 558.3 | 637.0 | 533.7 | 558.3 | 571.5 | 582.3 | 604.5 | 637.0 |
| Line 22 | Other | FL403065485 | 23.9 | 32.7 | 41.3 | 24.5 | 32.7 | 26.6 | 23.9 | 34.5 | 41.3 |
| Line 23 | Farm | FL403065605 | 177.6 | 193.2 | 205.1 | 189.2 | 193.2 | 195.9 | 198.8 | 202.1 | 205.1 |
| Line 24 | Consumer credit | FL403066005 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 25 | Miscellaneous assets | FL403093005 | 126.2 | 114.6 | 128.9 | 119.3 | 114.6 | 114.4 | 118.1 | 124.0 | 128.9 |
| Line 26 | Total liabilities and equity | FL404194005 | 9506.6 | 9699.5 | 9856.3 | 9585.8 | 9699.5 | 9696.8 | 9809.2 | 9802.7 | 9856.3 |
| Line 27 | Total liabilities | FL404190005 | 9182.8 | 9310.1 | 9402.5 | 9212.4 | 9310.1 | 9292.3 | 9384.2 | 9361.6 | 9402.5 |
| Line 28 | Other deposits (FHLB deposits) | FL403197033 | 13.2 | 14.3 | 16.0 | 13.9 | 14.3 | 14.5 | 16.6 | 15.6 | 16.0 |
| Line 29 | Federal funds and security repos | FL402150005 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 30 | Debt securities (GSE issues)3 | FL403161705 | 9085.1 | 9209.5 | 9301.0 | 9123.1 | 9209.5 | 9197.8 | 9287.9 | 9263.9 | 9301.0 |
| Line 31 | Consolidated trusts2 | FL403161795 | 7061.8 | 7150.7 | 7215.2 | 7110.3 | 7150.7 | 7164.6 | 7182.3 | 7189.2 | 7215.2 |
| Line 32 | Other | FL403161785 | 2023.4 | 2058.8 | 2085.8 | 2012.8 | 2058.8 | 2033.2 | 2105.6 | 2074.6 | 2085.8 |
| Line 33 | Loans (U.S. government loans) | FL403169283 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 34 | Miscellaneous liabilities | FL403193005 | 84.6 | 86.3 | 85.5 | 75.3 | 86.3 | 80.0 | 79.7 | 82.1 | 85.5 |
| Line 35 | Total equity | FL403181105 | 323.8 | 389.4 | 453.8 | 373.4 | 389.4 | 404.5 | 425.1 | 441.1 | 453.8 |
| Line 36 | Corporate equities (market value) | LM403164105 | 258.9 | 325.3 | 389.3 | 309.8 | 325.3 | 342.0 | 360.2 | 378.1 | 389.3 |
| Line 37 | Equity in GSEs | FL403192405 | 64.9 | 64.1 | 64.5 | 63.7 | 64.1 | 62.4 | 64.9 | 63.0 | 64.5 |
Notes:
- Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (L.126) are consolidated on Fannie Mae's and Freddie Mac's balance sheets (L.125).
- Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.
- Such issues are classified as agency- and GSE-backed securities.
Last Update: 2026-03-19