Federal Reserve Bulletin

Profits and Balance Sheet Developments at U.S. Commercial Banks in 2005

Figure 4. Financing gap at nonfarm nonfinancial corporations, 1990-2005. Data plotted as a curve. The financing gap ranges between about $20 billion and about $80 billion between 1990 and 1996 and then rises to reach a peak of about $310 billion in 2000. It falls to reach about zero in 2003, rises slightly in 2004, and then rises to reach about $50 billion in early 2005. The financing gap then falls to about negative $100 billion by the end of 2005.

Note: The data are four-quarter moving averages. The financing gap is the difference between capital expenditures and internally generated funds.

Source: Federal Reserve Board, Statistical Release Z.1, "Flow of Funds Accounts of the United States," table F. 102 (www.federalreserve.gov/releases/z1).  Return to article