Financial Accounts of the United States - Z.1
F.211 Agency- and GSE-Backed Securities (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates| Description | Series code | 2020 | 2021 | 2022 | 2023 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| All sectors; U.S. government agency securities; liability | FA893161705 | 657.2 | 612.5 | 979.4 | 297.4 | 1571.1 | -402.6 | -64 | 85.3 | 100.8 | 1 |
| Federal government; budget agency securities; liability | FA313161705 | -1 | -0.4 | 0 | 0.4 | -0.2 | -7 | 6.3 | 2.4 | -0.9 | 2 |
| Government-sponsored enterprises; GSE issues; liability | FA403161705 | 635.9 | 539.4 | 793.3 | 114.3 | 1431.6 | -588.8 | -292.9 | -92.7 | -59.5 | 3 |
| Agency-and GSE-backed mortgage pools; total mortgages; asset | FA413065005 | 22.3 | 73.5 | 186.1 | 182.7 | 139.7 | 193.2 | 222.5 | 175.5 | 161.2 | 4 |
| All sectors; agency- and GSE-backed securities; asset | FA893061705 | 657.2 | 612.5 | 979.4 | 297.4 | 1571.1 | -402.6 | -64 | 85.3 | 100.8 | 5 |
| Households and nonprofit organizations; agency- and GSE-backed securities; asset | FA153061705 | -297.8 | -21 | 672.6 | 160.9 | 463 | -335.4 | 298.8 | 217.2 | -339.3 | 6 |
| Nonfinancial corporate business; agency- and GSE-backed securities; asset | FA103061703 | 3.6 | 2.9 | 5.8 | 3.4 | -0.7 | 19.3 | 8.2 | -13.1 | 9.3 | 7 |
| Federal government; agency- and GSE-backed securities; asset | FA313061703 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8 |
| State and local governments; agency- and GSE-backed securities; asset | FA213061703 | -71.4 | -39.8 | 36.3 | 3 | 13.7 | 6.3 | -2.9 | -4.9 | -2.4 | 9 |
| Monetary authority; agency- and GSE-backed securities; asset | FA713061705 | 662.7 | 575.5 | 12.3 | -216.3 | -193.9 | -232.8 | -240.6 | -197.7 | -178.7 | 10 |
| U.S.-chartered depository institutions; agency- and GSE-backed securities; asset | FA763061705 | 603.1 | 535.1 | -231.2 | -164.7 | -108.8 | -182.9 | -228.5 | -138.7 | 111.2 | 11 |
| Foreign banking offices in the U.S.; agency- and GSE-backed securities; asset | FA753061703 | 7.9 | -5.7 | -0.2 | -6.2 | -26.3 | 13.8 | -8 | -4.3 | 0.2 | 12 |
| Banks in U.S.-affiliated areas; agency- and GSE-backed securities; asset | FA743061703 | 7.1 | 1.9 | 1.4 | -1.1 | -2.2 | -0.4 | 0.9 | -2.6 | -1.1 | 13 |
| Credit unions; agency- and GSE-backed securities; asset | FA473061705 | 75.9 | 74.6 | -0 | -28.8 | -33.6 | -26.8 | -31 | -23.9 | -30.9 | 14 |
| Property-casualty insurance companies; agency- and GSE-backed securities, including those held by U.S. residual market reinsurers; asset | FA513061705 | 3.1 | -10.2 | 11.8 | 28.1 | 11.7 | 23.4 | 46.1 | 30.9 | 33.7 | 15 |
| Life insurance companies; agency- and GSE-backed securities; asset | FA543061705 | -22.3 | -43.1 | -16.3 | -1.9 | -10.7 | 4.4 | -2.4 | 1.3 | 25.2 | 16 |
| Private pension funds; agency- and GSE-backed securities; asset | FA573061705 | 12.6 | 29.9 | 17.6 | 14.9 | 13.1 | 21.7 | 15.8 | 9.1 | 22.2 | 17 |
| Federal government retirement funds; agency- and GSE-backed securities; asset | FA343061705 | 1.3 | 0.3 | -1.2 | 0.5 | 0.5 | 1.1 | 0.1 | 0.4 | 0.4 | 18 |
| State and local government employee defined benefit retirement funds; agency- and GSE-backed securities; asset | FA223061743 | 26.4 | 9.6 | -13.4 | -4.2 | -37.5 | 61.5 | -60.2 | 19.6 | -4.2 | 19 |
| Money market funds; agency- and GSE-backed securities; asset | FA633061700 | -140.1 | -278.3 | 169.9 | 128.4 | 962.4 | -171.4 | -278.2 | 0.9 | 189.6 | 20 |
| Mutual funds; agency- and GSE-backed securities; asset (market value) | FA653061703 | 8.6 | -119.9 | 42 | 154.5 | 213.3 | 254.7 | 44.8 | 105.3 | 57.4 | 21 |
| Government-sponsored enterprises; agency- and GSE-backed securities; asset | FA403061705 | -29.3 | -23.8 | 25.8 | 48.2 | 66.1 | 45.6 | 29.8 | 51.4 | -13.4 | 22 |
| Issuers of asset-backed securities; agency- and GSE-backed securities; asset | FA673061703 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 23 |
| Mortgage real estate investment trusts; agency- and GSE-backed securities; asset | FA643061773 | -129.4 | -35.2 | -3.3 | 23.3 | 79.4 | 10.3 | 44 | -40.5 | 7.3 | 24 |
| Security brokers and dealers; agency- and GSE-backed securities (net); asset | FA663061705 | -61.1 | -22.1 | 59.6 | 9.5 | -1.9 | -89 | 140.7 | -11.8 | 153.1 | 25 |
| Holding companies; agency- and GSE-backed securities; asset | FA733061703 | -9.3 | -8.4 | -3.1 | -1.6 | -1.9 | -0.8 | -1.6 | -2.3 | 0.9 | 26 |
| Rest of the world; agency- and GSE-backed securities; asset | FA263061705 | 5.7 | -9.8 | 192.9 | 147.4 | 165.4 | 174.9 | 160.3 | 88.9 | 60.2 | 27 |
NOTES
- Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as Fannie Mae and FHLB; and agency- and GSE-backed mortgage pool securities issued by Ginnie Mae, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered officially to be part of the total borrowing of the federal government, which is shown in table F.106, line 49.
Last Update: June 7, 2024