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Data Note: U.S. - Flow of Funds - Changes for Q4 2008
Thursday, 12 Mar 2009 12:24 ET
By Phillip Thorne
Summary
March 12, 2009 -- The following changes were announced by FRB for the Q4 2008 edition of the Federal Reserve's Z.1 "Flow of Funds" report (65 new series).
Detail

The following is quoted from the "Summary Statistics and Table of Contents" section of the report ( http://federalreserve.gov/releases/z1/Current/z1r-1.pdf ).  The documentation field of each DataBuffet.com time series identifies at least one Z.1 table in which the series may be found; however, many series appear in multiple cross-referenced tables.

Although any new series are loaded immediately into DataBuffet.com, there will be a delay while we update the catalog listings and individual series metadata.  Please see DataBuffet News article ( http://www.economy.com/support/blog/buffet.aspx?did=15433EAD-78D9-49A8-B32C-D36738C912DC ) for workarounds in the meantime.

Additional commentary may be found in footnotes attached to each Z.1 table.  The "coded tables" are marked with numeric identifiers compatible with DataBuffet.com mnemonics, and may be found online: ( http://www.federalreserve.gov/releases/z1/Current/Coded/ ).

Data revisions and other changes

The statistics in the attached tables reflect the use of new or revised source data. Most significant revisions appear in recent quarters; however, new source information resulted in changes to data for earlier periods.

1. Assets of the nonfarm nonfinancial corporate business sector (tables F.102 and L.102) were revised from 2006:Q1 onward to reflect final data from the Internal Revenue Service (IRS) Statistics of Income (SOI) for 2006.

2. The federal government sector (tables F.106, L.106, F.106.c, and L.106.c) was modified to include an additional asset category, corporate equities, reflecting the federal government’s purchase of preferred shares issued by financial corporations under the Troubled Assets Relief Program (TARP) and by government-sponsored enterprises (GSEs). In addition, on F.106, net capital transfers (line 20) was adjusted to remove what the Bureau of Economic Analysis (BEA) assumed was the implied subsidy cost of capital injections to distressed businesses where the government acquired assets in 2008:Q4. On L.106, the value of corporate equities excludes this implied subsidy.

3. The monetary authority sector (tables F.108 and L.108) has been expanded to show new asset detail for bank loans n.e.c. related to the creation of Maiden Lane II LLC, Maiden Lane III LLC, and Commercial Paper Funding Facility LLC (CPFF).

4. For the private pension fund sector (tables F.118, F.118.b, F.118.c, L.118, L.118.b, and L.118.c), estimates have been revised from 2006:Q1 onward to reflect new data from the U.S. Internal Revenue Service/Department of Labor/Pension Benefit Guaranty Corporation Form 5500 filed for plan year 2006.

5. The government-sponsored enterprises sector (table F.124) was modified to include an additional liability category, corporate equities.

6. The finance companies sector (tables F.127 and L.127) was modified to include two additional asset categories, time and savings deposits and corporate bonds. Data for corporate bonds begin in 1984:Q1. Estimates of checkable deposits and time and savings deposits have been revised from 1945 forward to reflect new information available on the Domestic Finance Company Report of Consolidated Assets and Liabilities (FR2248).

7. The funding corporation sector (table F.130) was modified to include an additional liability category, corporate equities, reflecting American International Group’s (AIG) issuance of preferred shares to the federal government in 2008:Q4 under the TARP.

8. The market value of real estate (tables B.100, B.102, and B.103) has been revised from 2004:Q4 forward due to a shift from using the NCREIF appraisal-based commercial and multi-family indexes to transaction-based indexes.

Other
Related ReleaseZ.1 Financial Accounts of the United States (f.k.a. Flow of Funds)
SourceU.S. Board of Governors of the Federal Reserve System (FRB)
FrequencyQuarterly
GeographyUnited States
Upcoming
Release DateReference date
07 Jun 20241Q 2024
11 Jun 20241Q 2024