Logout / Access Other products Drop Down Arrow
Get live help Monday-Friday from 7AM-7PM ET (12PM-12PM GMT)  •  Contact Us
Check out our new FAQ section!
RSS Feed
TitleFAQ: U.S. - Flow of Funds - Sector Groupings
AuthorPhillip Thorne
Question

In the FRB "Flow of Funds" reports, how are the "sectors" aggregated? (Households, monetary authority, domestic nonfinancial, etc.)

Answer

The quarterly "Flow of Funds" report produced by the U.S. Board of Governors of the Federal Reserve consists of numerous tables, which examine transactions from the perspective of sectors or of financial instruments.

The richness of the flow of funds accounts lies, in part, in their detailed presentation of economic sectors and financial instruments.  In the accounts, the economy is divided into thirty sectors ... for purposes of analysis, the sectors can be combined into broader groups ... The combined debt of [the domestic nonfinancial group] ... is monitored by the Federal Open Market Committee because it is one indicator of the effect of monetary policy.

The sectors are grouped as follows, per the Guide to the Flow of Funds Accounts, Volume 1, Part 1, Diagram 1 (Page 20 in the 2000 edition).  The Guide, with these definitional tables, is not available online.

(1-7) Nonfinancial
   (1-6) Domestic nonfinancial
      (1-5) Domestic nonfinancial nonfederal
         1. Households and nonprofit organizations
         (2-4) Nonfinancial business
            2. Nonfarm nonfinancial corporate business
            3. Nonfarm noncorporate business
            4. Farm business
         5. State and local governments, excl. employee retirement funds
      6. Federal government
   7. Rest of the world
(8-30) Financial
   8. Monetary authority
   (9-14) Depository institutions
      (9-12) Commercial banking
         9. U.S.-chartered commercial banks
         10. Foreign banking offices in the U.S.
         11. Bank holding companies
         12. Banks in U.S.-affiliated areas
      (13-14) Thrift institutions
         13. Savings institutions
         14. Credit unions
      15. Bank personal trusts and estates
      16. Life insurance companies
      17. Other insurance companies
      18. Private pension funds
      19. State and local government employee retirement funds
      20. Money market mutual funds
      21. Mutual funds
      22. Closed-end funds
      23. Government-sponsored enterprises
      24. Federally related mortgage pools
      25. Issuers of asset-backed securities
      26. Finance companies
      27. Mortgage companies
      28. Real estate investment trusts
      29. Security brokers and dealers
      30. Funding corporations

 



Related Releases
Z.1 Financial Accounts (A) (f.k.a. Flow of Funds)
Z.1 Financial Accounts of the United States (f.k.a. Flow of Funds)