Financial Accounts of the United States - Z.1
S.62.a Private depository institutions
Billions of dollars
| Line | Description | Series | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current account | ||||||||||
| Line 1 | Gross value added | FA706902505 | 516.4 | 496.9 | 508.4 | 545.4 | 609.4 | 697.4 | 734.6 | |
| Line 2 | Less: Consumption of fixed capital | FA706330081 | 42.7 | 49.2 | 55.0 | 58.7 | 65.9 | 72.5 | 78.2 | 0.0 |
| Line 3 | Equals: Net value added | FA706902605 | 473.7 | 447.7 | 453.4 | 486.7 | 543.5 | 624.9 | 656.4 | |
| Line 4 | Compensation of employees (paid) | FA706025005 | 208.3 | 211.0 | 226.6 | 240.6 | 249.0 | 262.2 | 263.3 | |
| Line 5 | Wages and salaries | FA706020001 | 176.8 | 180.7 | 196.2 | 208.7 | 215.1 | 224.6 | 223.9 | |
| Line 6 | Employers' social contributions | FA706401001 | 31.5 | 30.3 | 30.4 | 31.9 | 33.9 | 37.6 | 39.4 | |
| Line 7 | Taxes on production and imports less subsidies | FA706240101 | 11.6 | 12.0 | 9.4 | 9.8 | 12.7 | 11.8 | 14.1 | |
| Line 8 | Operating surplus, net | FA706402101 | 253.8 | 224.7 | 217.4 | 236.3 | 281.8 | 350.9 | 379.0 | |
| Line 9 | Net national income/Balance of primary incomes, net | FA706140005 | 125.9 | 85.2 | 171.2 | 105.4 | 140.5 | -0.5 | -3.4 | |
| Line 10 | Operating surplus, net | FA706402101 | 253.8 | 224.7 | 217.4 | 236.3 | 281.8 | 350.9 | 379.0 | |
| Line 11 | Property income (received) | FA706150105 | 346.8 | 400.1 | 316.4 | 252.6 | 337.5 | 557.5 | 643.1 | |
| Line 12 | Interest | FA706130101 | 354.2 | 390.5 | 306.4 | 239.7 | 324.4 | 544.0 | 626.4 | |
| Line 13 | Distributed income of corporations (dividends) | FA706121101 | 2.7 | 2.4 | 1.6 | 1.4 | 2.3 | 4.0 | 4.4 | |
| Line 14 | Reinvested earnings on U.S. direct investment abroad | FA703092281 | -10.1 | 7.2 | 8.4 | 11.5 | 10.8 | 9.5 | 12.3 | |
| Line 15 | Less: Uses of property income (paid) | FA706150005 | 474.7 | 539.6 | 362.6 | 383.5 | 478.8 | 908.9 | 1025.5 | |
| Line 16 | Interest | FA706130001 | 305.0 | 352.3 | 275.6 | 219.7 | 320.7 | 690.6 | 840.3 | |
| Line 17 | Distributed income of corporations | FA706120005 | 164.3 | 181.9 | 83.5 | 155.2 | 151.2 | 212.5 | 178.6 | |
| Line 18 | Dividends | FA706121001 | 164.2 | 181.7 | 83.3 | 155.0 | 151.1 | 212.3 | 178.4 | |
| Line 19 | Withdrawals from income of quasi-corporations1 | FA706122001 | 0.1 | 0.2 | 0.2 | 0.2 | 0.1 | 0.2 | 0.2 | |
| Line 20 | Reinvested earnings on foreign direct investment | FA703192281 | 5.4 | 5.4 | 3.5 | 8.6 | 6.9 | 5.8 | 6.6 | |
| Line 21 | Rents on land and natural resources | FA706112001 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
| Line 22 | Net national income/Balance of primary incomes, net | FA706140005 | 125.9 | 85.2 | 171.2 | 105.4 | 140.5 | -0.5 | -3.4 | |
| Line 23 | Less: Current taxes on income, wealth, etc. (paid) | FA706220001 | 24.0 | 29.4 | 30.2 | 29.6 | 34.8 | 35.6 | 39.5 | |
| Line 24 | Less: Other current transfers (paid) | FA706403001 | 9.1 | 9.8 | 9.4 | 10.2 | 11.7 | 11.8 | 13.9 | |
| Line 25 | Equals: Disposable income, net | FA706012005 | 92.8 | 46.0 | 131.6 | 65.6 | 94.0 | -47.9 | -56.8 | |
| Line 26 | Equals: Net saving | FA706012005 | 92.8 | 46.0 | 131.6 | 65.6 | 94.0 | -47.9 | -56.8 | |
| Capital account | ||||||||||
| Line 27 | Net saving less capital transfers | FA706006385 | 92.8 | 46.0 | 131.6 | 65.6 | 92.0 | -47.9 | -56.8 | |
| Line 28 | Net saving | FA706012005 | 92.8 | 46.0 | 131.6 | 65.6 | 94.0 | -47.9 | -56.8 | |
| Line 29 | Less: Capital transfers paid (net) | FA705440083 | 0.0 | 0.0 | 0.0 | 0.0 | 2.0 | 0.0 | 0.0 | |
| Line 30 | Capital formation, net | FA705015085 | 11.6 | 27.0 | 12.5 | 7.0 | 13.4 | 11.1 | 13.2 | |
| Line 31 | Gross fixed capital formation (nonresidential) | FA705013081 | 54.4 | 76.3 | 67.5 | 65.7 | 79.3 | 83.6 | 91.3 | |
| Line 32 | Less: Consumption of fixed capital | FA706330081 | 42.7 | 49.2 | 55.0 | 58.7 | 65.9 | 72.5 | 78.2 | 0.0 |
| Line 33 | Net lending (+) or borrowing (-), capital account (lines 27-30) | FA705000995 | 81.1 | 18.9 | 119.1 | 58.6 | 78.6 | -59.0 | -69.9 | |
| Financial account | ||||||||||
| Line 34 | Net lending (+) or borrowing (-) (line 33) | FA705000995 | 81.1 | 18.9 | 119.1 | 58.6 | 78.6 | -59.0 | -69.9 | |
| Line 35 | Net acquisition of financial assets | FA704090005 | 286.3 | 870.4 | 3252.6 | 2405.6 | 675.7 | 488.2 | 204.4 | 1337.3 |
| Line 36 | Currency and deposits | FA704000005 | -526.8 | 98.0 | 1520.3 | 665.4 | -953.0 | 489.4 | -342.0 | 136.8 |
| Line 37 | Debt securities | FA704022005 | 129.9 | 214.4 | 1082.1 | 1344.2 | -20.6 | -444.3 | 126.8 | 159.5 |
| Line 38 | Open market paper | FA703069175 | 0.2 | 0.5 | 1.6 | -2.1 | -0.2 | -0.1 | 0.1 | -0.0 |
| Line 39 | Treasury securities | FA703061105 | 124.7 | 126.3 | 302.8 | 467.7 | 58.3 | -100.1 | 197.4 | 202.8 |
| Line 40 | Agency- and GSE-backed securities2 | FA703061705 | 57.4 | 110.0 | 693.4 | 606.0 | -229.9 | -201.0 | -10.3 | -19.1 |
| Line 41 | Municipal securities | FA703062005 | -32.9 | -27.5 | 62.7 | 62.1 | -4.0 | -57.6 | -36.3 | -22.4 |
| Line 42 | Corporate and foreign bonds | FA703063005 | -19.5 | 5.1 | 21.5 | 210.3 | 155.1 | -85.5 | -24.0 | -1.7 |
| Line 43 | Loans | FA704035005 | 775.7 | 491.3 | 500.7 | 240.2 | 1430.2 | 484.8 | 436.7 | 969.2 |
| Line 44 | Short term | FA704041005 | 602.7 | 279.5 | 418.0 | 31.6 | 765.5 | 205.1 | 298.6 | 771.1 |
| Line 45 | Long term | FA704042005 | 173.0 | 211.8 | 82.6 | 208.6 | 664.7 | 279.8 | 138.1 | 198.2 |
| Line 46 | Equity and investment fund shares | FA703081005 | -0.3 | 8.9 | 0.4 | 15.7 | 29.2 | -0.9 | 15.8 | 16.6 |
| Line 47 | Corporate equities | FA703064105 | 2.5 | 0.8 | 2.9 | 2.4 | -1.9 | 2.5 | 11.7 | 3.6 |
| Line 48 | Mutual fund shares | FA703064205 | -3.1 | 1.4 | 2.4 | 3.6 | -3.7 | -1.9 | -1.5 | 1.5 |
| Line 49 | Equity in government-sponsored enterprises2 | FA703092405 | 0.5 | -4.6 | -9.7 | -3.4 | 20.2 | -0.1 | -3.5 | -2.5 |
| Line 50 | U.S. direct investment abroad: equity | FA763092100 | -1.1 | 11.9 | 4.0 | 11.6 | 13.4 | -2.5 | 8.0 | 12.0 |
| Line 51 | Stock in Federal Reserve Banks | FA713164003 | 0.9 | -0.6 | 0.7 | 1.5 | 1.1 | 1.1 | 1.1 | 2.0 |
| Line 52 | Insurance, pension and standardized guarantee schemes | FA763040005 | 3.9 | 6.7 | 6.1 | 13.3 | 6.5 | -2.0 | 4.3 | 6.2 |
| Line 53 | Other accounts receivable | FA703096105 | -96.2 | 51.2 | 143.1 | 126.8 | 183.4 | -38.8 | -37.2 | 49.1 |
| Line 54 | Net incurrence of liabilities | FA704194005 | 472.0 | 993.3 | 3240.8 | 2166.6 | 465.3 | 573.7 | 296.2 | 1324.3 |
| Line 55 | Currency and deposits | FA704100005 | 480.7 | 875.1 | 3465.7 | 2201.6 | -102.4 | -49.7 | 400.6 | 1108.7 |
| Line 56 | Debt securities | FA704122005 | -47.7 | 60.8 | 103.1 | -136.6 | 187.8 | 35.6 | -0.1 | 23.5 |
| Line 57 | Corporate bonds | FA763163005 | -18.0 | 20.9 | 54.8 | -64.8 | 68.2 | -5.5 | -15.0 | 4.5 |
| Line 58 | Commercial paper | FA703169175 | -29.7 | 39.8 | 48.4 | -71.8 | 119.5 | 41.1 | 14.8 | 18.9 |
| Line 59 | Loans | FA704135005 | -86.8 | -31.7 | -245.7 | -108.4 | 425.6 | 106.3 | -173.4 | -25.4 |
| Line 60 | Short term | FA704141005 | -82.5 | -27.8 | -243.0 | -105.8 | 425.8 | 107.6 | -173.5 | -25.5 |
| Line 61 | Long term (foreign direct investment in the U.S.: debt) | FA753192305 | -4.3 | -3.9 | -2.7 | -2.6 | -0.2 | -1.3 | 0.1 | 0.1 |
| Line 62 | Equity and investment fund shares | FA703181105 | 114.7 | 89.8 | 89.4 | 139.5 | -110.0 | 120.7 | 101.2 | 208.5 |
| Line 63 | Corporate equity issues | FA763164105 | -5.2 | 1.4 | 1.9 | 2.3 | 17.3 | -8.5 | -12.5 | -0.6 |
| Line 64 | Foreign direct investment in the U.S.: equity | FA753192103 | 12.8 | 5.5 | 8.2 | -2.8 | 12.3 | 12.9 | 14.5 | 11.0 |
| Line 65 | Equity investment by parent | FA703194605 | 107.1 | 83.0 | 79.4 | 140.0 | -139.7 | 116.3 | 99.3 | 198.1 |
| Line 66 | Other accounts payable | FA703196005 | 11.1 | -0.7 | -171.8 | 70.5 | 64.3 | 360.8 | -32.0 | 8.9 |
| Addendum: | ||||||||||
| Line 67 | Net lending (+) or borrowing (-), financial account (lines 35-54) | FA705000005 | -185.7 | -122.8 | 11.8 | 239.1 | 210.4 | -85.5 | -91.8 | 13.0 |
| Other changes in volume account | ||||||||||
| Line 68 | Total other volume changes | FV708090185 | -277.1 | -181.0 | -102.8 | 189.9 | 150.3 | -14.9 | -13.4 | |
| Line 69 | Disaster losses | FV702010095 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
| Line 70 | Other volume changes | FV708090085 | -10.3 | -39.3 | 4.5 | 9.4 | 18.5 | 11.6 | 8.5 | |
| Line 71 | Less: Statistical discrepancy (lines 33-67)3 | FU707005045 | 266.9 | 141.8 | 107.3 | -180.5 | -131.8 | 26.5 | 21.9 | |
| Revaluation account | ||||||||||
| Line 72 | Nonfinancial assets | FR702010095 | 14.7 | 9.2 | 4.8 | 61.6 | 79.5 | 1.5 | 13.3 | |
| Line 73 | Structures (nonresidential) | FR705013665 | 14.8 | 11.2 | 5.2 | 56.5 | 72.8 | 0.2 | 8.8 | 9.1 |
| Line 74 | Equipment | FR705013265 | 0.6 | -1.0 | 0.4 | 6.6 | 7.0 | 1.8 | 2.1 | 0.6 |
| Line 75 | Intellectual property products | FR705013765 | -0.8 | -1.0 | -0.8 | -1.5 | -0.3 | -0.5 | 2.4 | -10.3 |
| Line 76 | Financial assets | FR704090005 | -45.6 | 140.4 | 159.5 | -209.1 | -670.2 | 100.7 | 6.7 | 135.7 |
| Line 77 | Debt securities | FR704022005 | -47.6 | 118.8 | 92.3 | -148.9 | -690.2 | 157.5 | -8.9 | 194.7 |
| Line 78 | U.S. direct investment abroad: debt | FR763092305 | -0.0 | -0.3 | -0.0 | -0.0 | 0.1 | -0.4 | 0.0 | 0.2 |
| Line 79 | Corporate equities | FR703064105 | -4.2 | 7.8 | 2.5 | 9.0 | -7.1 | 5.8 | 8.4 | 12.2 |
| Line 80 | Mutual fund shares | FR703064205 | -0.6 | 1.6 | 2.6 | 2.1 | -4.0 | 2.0 | 1.8 | 2.2 |
| Line 81 | U.S. direct investment abroad: equity | FR763092100 | -52.3 | 46.3 | 17.4 | 45.1 | -85.5 | 39.0 | 9.2 | 107.0 |
| Line 82 | Other accounts receivable | FR703096105 | 59.0 | -33.9 | 44.6 | -116.5 | 116.5 | -103.1 | -3.9 | -180.5 |
| Line 83 | Liabilities | FR704194005 | -37.8 | 81.8 | 42.8 | 114.1 | -185.5 | 52.2 | 106.8 | 73.0 |
| Line 84 | Foreign direct investment in the U.S.: debt | FR753192305 | 0.6 | -0.6 | -0.3 | -0.4 | -1.1 | -0.3 | 0.7 | -0.7 |
| Line 85 | Corporate equity issues | FR763164105 | -8.6 | 22.5 | -8.5 | 50.8 | -65.5 | -16.9 | 19.6 | 7.8 |
| Line 86 | Foreign direct investment in the U.S.: equity | FR753192103 | -29.8 | 59.9 | 51.6 | 63.7 | -118.8 | 69.4 | 86.6 | 65.9 |
| Line 87 | Equity investment by parent | FR703194605 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 88 | Changes in net worth due to nominal holding gains/losses | FR702090095 | 6.8 | 67.8 | 121.6 | -261.6 | -405.3 | 50.0 | -86.8 | 62.2 |
| Changes in balance sheet account | ||||||||||
| Line 89 | Change in net worth (lines 30+33+68+88) | FC702090095 | -177.6 | -67.2 | 150.3 | -6.1 | -163.0 | -12.8 | -156.9 | 96.4 |
| Balance sheet account (end of period) | ||||||||||
| Line 90 | Total assets | FL702000095 | 20783.4 | 21791.1 | 25222.6 | 27490.6 | 27593.0 | 28197.9 | 28439.4 | 29932.9 |
| Line 91 | Nonfinancial assets4 | LM702010095 | 463.5 | 504.9 | 525.9 | 598.4 | 696.3 | 713.3 | 744.6 | |
| Line 92 | Structures (nonresidential) | LM705013665 | 308.6 | 325.9 | 334.5 | 390.8 | 464.6 | 465.6 | 474.8 | 484.2 |
| Line 93 | Equipment | LM705013265 | 103.4 | 114.4 | 120.9 | 132.1 | 146.1 | 152.5 | 162.7 | 178.5 |
| Line 94 | Intellectual property products | LM705013765 | 51.5 | 64.7 | 70.5 | 75.5 | 85.6 | 95.3 | 107.2 | 117.2 |
| Line 95 | Financial assets | FL704090005 | 20319.8 | 21286.2 | 24696.7 | 26892.2 | 26896.7 | 27484.6 | 27694.8 | 29153.1 |
| Line 96 | Currency and deposits | FL704000005 | 2892.2 | 2990.2 | 4510.4 | 5175.8 | 4232.8 | 4722.3 | 4380.2 | 4517.0 |
| Line 97 | Debt securities | LM704022005 | 4235.8 | 4569.0 | 5743.4 | 6938.8 | 6227.9 | 5941.1 | 6059.1 | 6413.2 |
| Line 98 | Open market paper | FL703069175 | 0.2 | 0.7 | 2.3 | 0.3 | 0.1 | 0.0 | 0.1 | 0.0 |
| Line 99 | Treasury securities | LM703061105 | 737.0 | 879.3 | 1203.2 | 1641.2 | 1579.7 | 1514.0 | 1722.7 | 1961.8 |
| Line 100 | Agency- and GSE-backed securities2 | LM703061705 | 2449.7 | 2633.5 | 3374.3 | 3881.6 | 3212.8 | 3093.5 | 3060.4 | 3173.8 |
| Line 101 | Municipal securities | LM703062005 | 418.5 | 400.9 | 471.0 | 527.6 | 466.0 | 425.2 | 384.7 | 372.0 |
| Line 102 | Corporate and foreign bonds | LM703063005 | 630.4 | 654.6 | 692.7 | 888.0 | 969.4 | 908.4 | 891.1 | 905.6 |
| Line 103 | Loans | FL704035005 | 12100.5 | 12589.1 | 13093.0 | 13332.1 | 14761.4 | 15244.8 | 15680.6 | 16658.0 |
| Line 104 | Short term | FL704041005 | 6651.0 | 6930.5 | 7353.2 | 7384.8 | 8150.4 | 8355.4 | 8653.9 | 9433.8 |
| Line 105 | Long term | FL704042005 | 5449.5 | 5658.6 | 5739.8 | 5947.3 | 6611.1 | 6889.4 | 7026.7 | 7224.2 |
| Line 106 | Mortgages | FL703065005 | 5440.4 | 5655.1 | 5738.1 | 5948.9 | 6615.2 | 6892.1 | 7029.6 | 7228.6 |
| Line 107 | U.S. direct investment abroad: debt | FL763092305 | 9.1 | 3.5 | 1.7 | -1.6 | -4.1 | -2.7 | -2.9 | -4.4 |
| Line 108 | Equity and investment fund shares | FL703081005 | 349.6 | 416.0 | 451.8 | 524.4 | 459.1 | 509.5 | 541.3 | 685.2 |
| Line 109 | Corporate equities | LM703064105 | 34.9 | 43.5 | 49.0 | 60.4 | 51.4 | 59.7 | 79.8 | 95.6 |
| Line 110 | Mutual fund shares | LM703064205 | 8.2 | 11.3 | 16.3 | 22.0 | 14.3 | 14.4 | 14.8 | 18.5 |
| Line 111 | Equity in government-sponsored enterprises2 | FL703092405 | 33.1 | 28.5 | 18.8 | 15.4 | 35.6 | 35.5 | 32.0 | 29.6 |
| Line 112 | U.S. direct investment abroad: equity | LM763092100 | 241.0 | 300.9 | 335.3 | 392.7 | 322.8 | 363.8 | 377.5 | 502.5 |
| Line 113 | Stock in Federal Reserve Banks | FL713164003 | 32.3 | 31.7 | 32.4 | 33.9 | 35.0 | 36.1 | 37.2 | 39.2 |
| Line 114 | Insurance, pension and standardized guarantee schemes | FL763040005 | 172.1 | 178.8 | 184.8 | 198.2 | 204.7 | 202.7 | 207.0 | 213.2 |
| Line 115 | Other accounts receivable | FL703096105 | 569.7 | 543.1 | 713.3 | 722.9 | 1010.6 | 864.2 | 826.6 | 666.4 |
| Line 116 | Total liabilities and net worth | FL702100005 | 20783.4 | 21791.1 | 25222.6 | 27490.6 | 27593.0 | 28197.9 | 28439.4 | 29932.9 |
| Line 117 | Liabilities | FL704194005 | 20969.8 | 22044.7 | 25325.9 | 27600.0 | 27865.4 | 28483.1 | 28881.6 | 30278.7 |
| Line 118 | Currency and deposits | FL704100005 | 16078.1 | 16953.2 | 20418.9 | 22620.5 | 22518.1 | 22468.4 | 22869.0 | 23977.7 |
| Line 119 | Debt securities | FL704122005 | 338.3 | 399.0 | 502.1 | 365.5 | 553.3 | 588.9 | 588.8 | 612.2 |
| Line 120 | Corporate bonds | FL763163005 | 180.8 | 201.7 | 256.5 | 191.7 | 259.9 | 254.5 | 239.5 | 244.0 |
| Line 121 | Commercial paper | FL703169175 | 157.5 | 197.3 | 245.7 | 173.8 | 293.4 | 334.4 | 349.3 | 368.2 |
| Line 122 | Loans | FL704135005 | 1307.3 | 1275.0 | 1028.9 | 920.1 | 1344.6 | 1450.6 | 1277.9 | 1251.8 |
| Line 123 | Short term | FL704141005 | 1279.5 | 1251.7 | 1008.7 | 902.9 | 1328.7 | 1436.3 | 1262.8 | 1237.3 |
| Line 124 | Long term (foreign direct investment in the U.S.: debt) | FL753192305 | 27.8 | 23.3 | 20.3 | 17.2 | 15.9 | 14.3 | 15.1 | 14.5 |
| Line 125 | Equity and investment fund shares | FL703181105 | 2466.0 | 2618.7 | 2748.9 | 2996.3 | 2687.5 | 2852.5 | 3055.2 | 3337.3 |
| Line 126 | Corporate equity issues | LM763164105 | 104.9 | 125.9 | 119.3 | 172.4 | 124.2 | 98.7 | 105.8 | 113.0 |
| Line 127 | Foreign direct investment in the U.S.: equity | LM753192103 | 311.4 | 360.1 | 417.6 | 471.9 | 351.0 | 426.4 | 522.8 | 599.7 |
| Line 128 | Equity investment by parent | FL703194605 | 2049.7 | 2132.7 | 2212.0 | 2352.0 | 2212.4 | 2327.4 | 2426.6 | 2624.6 |
| Line 129 | Other accounts payable | FL703196005 | 780.1 | 798.9 | 627.1 | 697.6 | 761.9 | 1122.7 | 1090.8 | 1099.7 |
| Line 130 | Net worth | FL702090095 | -186.4 | -253.6 | -103.3 | -109.4 | -272.4 | -285.2 | -442.2 | -345.8 |
Notes:
- Consists of rental income of tenant-occupied housing and proprietors' income. Quasi-corporations are unincorporated enterprises that function as if they were corporations; they primarily cover their operating costs through sales, and they keep a complete set of financial records.
- Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.
- The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.
- Excludes land.
Last Update: 2026-03-19