Preliminary Release Highlights Third Quarter 2024

Topic Description
Instrument table reorganization and renumbering ***Preliminary -- subject to change*** Transaction and level instrument tables F.200 and L.200 through F.205 and L.205 have been reorganized and renumbered to align more closely with international guidelines set forth in the System of National Accounts 2008. These changes also align the treatment of monetary gold, special drawing rights (SDRs), other U.S. official reserves, currency, and deposits throughout the Financial Accounts of the United States, including the Integrated Macroeconomic Accounts (tables S.1.a-S.9.a) and international data submissions (https://www.federalreserve.gov/apps/fof/InternationalData.aspx). Additional release highlights provide more information.
New monetary gold and special drawing rights (SDRs) tables ***Preliminary -- subject to change*** New tables for monetary gold and special drawing rights (SDRs) (tables F.200 and L.200) reorganize line items previously published on the now discontinued tables for U.S. official reserve assets and SDR allocations (previously F.200 and L.200). Monetary gold is now presented at market value, consistent with the Bureau of Economic Analysis’ (BEA) International Investment Position data. Gold certificates issued by the Treasury to the Federal Reserve are now categorized as miscellaneous financial claims (tables F.234 and L.234). Other official reserve assets have been reclassified to other instrument categories as described in a separate release highlight.
Currency and deposits tables renumbered ***Preliminary -- subject to change*** The instrument tables for currency and deposits have been renumbered as follows: interbank assets and liabilities are now tables F.202 and L.202 (previously F.203 and L.203), checkable deposits and currency are now tables F.203 and L.203 (previously F.204 and L.204), time and savings deposits are now tables F.204 and L.204 (previously F.205 and L.205).
New other deposits instrument category ***Preliminary -- subject to change*** The new instrument category other deposits (tables F.205 and L.205) brings together deposits that are liabilities of institutions other than U.S. depository institutions and are not classified as interbank assets and liabilities. Other deposits include foreign deposits, previously reported on the now discontinued U.S. deposits in foreign countries tables (previously F.203 and L.203); reserve position in the IMF, previously reported on the now discontinued tables U.S. official reserve assets and SDR allocations (previously F.200 and L.200); and Postal Savings System deposits, deposits at Federal Home Loan Banks, and federal government nonofficial foreign currency deposits, previously reported as miscellaneous financial claims (tables F.234 and L.234).
New total currency and deposits tables ***Preliminary -- subject to change*** New transaction and level instrument tables for total currency and deposits (F.201 and L.201) aggregate the tables for interbank assets and liabilities (F.202 and L.202), checkable deposits and currency (F.203 and L.203), time and savings deposits (F.204 and L.204), and other deposits (F.205 and L.205).
Interbank assets and liabilities now include monetary authority holdings of official and nonofficial foreign currency deposits ***Preliminary -- subject to change*** The instrument interbank assets and liabilities (tables F.202 and L.202) now includes monetary authority holdings of official reserve deposits in foreign currency, previously reported in the now discontinued U.S. official reserve assets and SDR allocations instrument category (previously F.200 and L.200). Nonofficial holdings of foreign currencies (swap lines) have also been reclassified from identified miscellaneous financial claims (tables F.234 and L.234) to interbank assets and liabilities.
Checkable deposits and currency now include Treasury currency ***Preliminary -- subject to change*** Treasury currency has been reclassified to the instrument checkable deposits and currency (tables F.203 and L.203) and the data has been updated to reflect the face value of minted coins and outstanding U.S. notes. Treasury currency was previously reported on the discontinued special drawing rights (SDRs) certificates and Treasury currency tables (previously F.201 and L.201). Monetary authority holdings of coin are also included in checkable deposits and currency.
New other official reserves detail and reclassification ***Preliminary -- subject to change*** The category other official reserves, previously reported on the now discontinued U.S. official reserve assets and SDR allocations tables (previously F.200 and L.200), has been reclassified and additional detail has been provided as follows: monetary authority holdings of official foreign currency deposits are reported as interbank assets and liabilities (tables F.202 and L.202), federal government holdings of official foreign currency deposits are reported as other deposits (tables F.205 and L.205), official holdings of foreign securities are reported as foreign bonds (tables F.213 and L.213), and “other” other reserves are reported as security repurchase agreements (tables F.207 and L.207).
SDR certificates reclassification ***Preliminary -- subject to change*** SDR certificates have been reclassified as identified miscellaneous financial claims (tables F.234 and L.234). SDR certificates were previously reported on the now discontinued special drawing rights (SDRs) certificates and Treasury currency tables (previously F.201 and L.201).
Changes to miscellaneous financial claims ***Preliminary -- subject to change*** As described in other release highlights, several items have been reclassified from miscellaneous financial claims (tables F.234 and L.234) to deposit instruments, and gold and SDR certificates have been reclassified from now discontinued tables to miscellaneous financial claims.
Credit union multifamily, commercial, and farm mortgages ***Preliminary -- subject to change*** Beginning 1997:Q1, the credit union sector (tables F.214 and L.114) now shows holdings of multifamily residential mortgages (tables F.219 and L.219), commercial mortgages (tables F.220 and L.220), and farm mortgages (tables F.221 and L.221). These loans were previously included in credit unions’ home mortgages before 2022:Q1 and depository institutional loans n.e.c. thereafter.
National Income and Product Account annual update ***Preliminary -- subject to change*** The statistics in this publication reflect the 2024 annual update of the National Income and Product Accounts (NIPAs) released by BEA on September 26, 2024, as well as information for 2024:Q3 released on November 27, 2024. See the October 2024 issue of the Survey of Current Business at https://apps.bea.gov/scb/ for further details.
Net capital transfers paid to private pensions ***Preliminary -- subject to change*** Special financial assistance payments by the Pension Benefit Guaranty Corporation to private pensions, as authorized by the American Rescue Plan Act of 2021, are now recorded as federal government net capital transfers on the tables for private pensions (F.118), and net capital transfers (F.5). This treatment aligns with the 2024 annual update of the NIPAs.
Fixed assets annual update ***Preliminary -- subject to change*** Investment, depreciation, and capital stock data for private and government sectors have been revised beginning 2019:Q1 to reflect updated annual estimates of fixed assets from BEA.
Nonfinancial noncorporate business benchmark ***Preliminary -- subject to change*** Nonfinancial noncorporate business sector data (tables F.104, L.104, B.104, and R.104) have been revised beginning 2022:Q1 to reflect new benchmark data from the Internal Revenue Service (IRS) Statistics of Income (SOI) for 2022.

 

Last Update: December 2, 2024