Flow of Funds Matrix
Every financial instrument against every sector
The Federal Reserve's levels matrix places assets and liabilities in paired sector columns and keeps instrument discrepancies in a separate final column. At 2026:Q1, all-sector financial assets were $423.85 trillion.
Data as of 2026:Q1, June 11, 2026 (2026:Q1 Z.1 release)
Unit: USD trillions, converted from millions of dollars. Amounts are outstanding at quarter end and are not seasonally adjusted. Blank cells are unpublished slots, not zeros.
At 2026:Q1, column 15 equals columns 9, 11, and 13 across 9 complete asset rows with a maximum absolute residual of 1 million dollars.
| Instrument row | Column 1Households and nonprofit organizations, assets | Column 2Households and nonprofit organizations, liabilities | Column 3Nonfinancial business, assets | Column 4Nonfinancial business, liabilities | Column 5Federal government, assets | Column 6Federal government, liabilities | Column 7State and local governments, assets | Column 8State and local governments, liabilities | Column 9Domestic nonfinancial sectors, assets | Column 10Domestic nonfinancial sectors, liabilities | Column 11Domestic financial sectors, assets | Column 12Domestic financial sectors, liabilities | Column 13Rest of the world, assets | Column 14Rest of the world, liabilities | Column 15All sectors, assets | Column 16All sectors, liabilities | Column 17Instrument discrepancies |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1All sectors; total financial assets | 141.61 | 48.44 | 6.08 | 5.19 | 201.32 | 157.36 | 65.18 | 423.85 | -5.52 | ||||||||
| 2All sectors; total liabilities and equity | 21.56 | 148.15 | 36.85 | 7.88 | 214.44 | 163.69 | 40.21 | 418.34 | |||||||||
| 3All sectors; total liabilities | 21.56 | 45.62 | 36.85 | 7.88 | 111.91 | 136.11 | 12.10 | 260.12 | |||||||||
| 4All sectors; monetary gold and SDRs; assets | 1.40 | 0.16 | 1.40 | 0.16 | 0.16 | 0.17 | 1.55 | 0.33 | -1.23 | ||||||||
| 5All sectors; total interbank transactions; asset | 4.54 | 5.23 | 2.15 | 1.45 | 6.69 | 6.68 | -0.01 | ||||||||||
| 6All sectors; checkable deposits and currency; asset | 5.95 | 3.00 | 0.90 | 0.05 | 0.42 | 10.26 | 0.05 | 0.82 | 12.38 | 1.35 | 12.43 | 12.43 | 0.00 | ||||
| 7Private depository institutions; total time and savings deposits; liability | 9.16 | 2.10 | 0.00 | 0.35 | 11.61 | 0.90 | 13.34 | 0.82 | 13.34 | 13.34 | |||||||
| 8All sectors; other deposits; asset | 0.07 | 0.21 | 0.12 | 0.00 | 0.40 | 0.00 | 0.02 | 0.02 | 1.36 | 0.42 | 1.38 | 0.95 | |||||
| 9Money market funds; total financial assets | 5.42 | 1.26 | 0.08 | 6.76 | 1.30 | 8.29 | 0.23 | 8.29 | 8.29 | ||||||||
| 10All sectors; total debt securities; asset | 6.13 | 0.24 | 0.53 | 8.98 | 0.01 | 30.66 | 2.69 | 3.56 | 9.36 | 43.45 | 38.44 | 18.72 | 15.93 | 4.00 | 63.72 | 66.16 | 2.44 |
| 11All sectors; open market paper; liability | 0.22 | 0.29 | 0.31 | 0.53 | 0.29 | 0.75 | 0.85 | 0.16 | 0.29 | 1.43 | 1.43 | ||||||
| 12All sectors; Treasury securities; asset | 3.04 | 0.22 | 30.64 | 1.56 | 4.82 | 30.64 | 14.86 | 9.32 | 29.00 | 30.64 | 1.64 | ||||||
| 13All sectors; agency- and GSE-backed securities; asset | 0.82 | 0.04 | 0.00 | 0.02 | 0.45 | 1.32 | 0.02 | 9.11 | 12.54 | 1.42 | 11.86 | 12.56 | 0.71 | ||||
| 14All sectors; municipal securities; asset | 2.07 | 0.24 | 0.03 | 0.66 | 0.05 | 3.56 | 2.15 | 4.46 | 1.99 | 0.12 | 4.27 | 4.46 | 0.19 | ||||
| 15All sectors; corporate and foreign bonds; asset | 0.19 | 0.01 | 8.04 | 0.01 | 0.32 | 0.53 | 8.04 | 11.72 | 5.33 | 4.91 | 3.70 | 17.17 | 17.07 | -0.10 | |||
| 16All sectors; total loans; asset | 1.30 | 20.74 | 0.30 | 13.64 | 2.44 | 3.82 | 0.56 | 0.15 | 4.60 | 38.35 | 43.83 | 7.32 | 2.92 | 4.09 | 51.35 | 49.77 | -1.58 |
| 17All sectors; federal funds and security repurchase agreements; asset | 0.09 | 0.00 | 0.23 | 0.32 | 6.33 | 4.55 | 1.69 | 2.21 | 8.34 | 6.76 | -1.58 | ||||||
| 18Domestic financial sectors; depository institution loans n.e.c.; asset | 0.24 | 2.98 | 0.12 | 3.35 | 6.07 | 0.88 | 1.84 | 6.07 | 6.07 | ||||||||
| 19Households and nonprofit organizations; consumer credit; liability | 0.01 | 5.07 | 0.00 | 1.60 | 1.62 | 5.07 | 3.46 | 5.07 | 5.07 | ||||||||
| 20All sectors; total mortgages; asset | 0.06 | 14.41 | 0.21 | 7.27 | 0.19 | 0.00 | 0.25 | 0.71 | 21.68 | 20.97 | 21.68 | 21.68 | |||||
| 21All sectors; other loans and advances; liability | 1.22 | 1.02 | 3.39 | 0.64 | 3.82 | 0.08 | 0.03 | 1.95 | 8.26 | 7.01 | 1.89 | 1.23 | 0.05 | 10.19 | 10.19 | ||
| 22All sectors; corporate equities; asset | 44.96 | 3.37 | 69.51 | 0.45 | 0.15 | 48.93 | 69.51 | 38.52 | 22.35 | 19.44 | 15.04 | 106.89 | 106.89 | ||||
| 23Rest of the world; U.S. direct investment abroad: equity; liability (market value) | 10.72 | 10.72 | 2.27 | 12.99 | 12.99 | 12.99 | |||||||||||
| 24Rest of the world; foreign direct investment in U.S.: equity; asset (market value) | 16.64 | 16.64 | 2.19 | 18.84 | 18.84 | 18.84 | |||||||||||
| 25All sectors; miscellaneous other equity; liability | 16.56 | 0.02 | 16.38 | 0.08 | 16.66 | 16.38 | 2.84 | 3.04 | 0.08 | 19.50 | 19.50 | ||||||
| 26Mutual funds; mutual fund shares; liability | 13.37 | 0.42 | 0.07 | 13.86 | 7.45 | 23.03 | 1.72 | 23.03 | 23.03 | ||||||||
| 27All sectors; life insurance reserves; liability | 2.17 | 0.06 | 2.17 | 0.06 | 0.62 | 2.59 | 0.00 | 0.14 | 2.79 | 2.79 | |||||||
| 28All sectors; pension entitlements; liability | 34.24 | 34.24 | 0.70 | 34.52 | 0.00 | 0.43 | 34.95 | 34.95 | |||||||||
| 29All sectors; trade receivables; asset | 0.50 | 0.54 | 7.48 | 5.40 | 0.11 | 0.70 | 0.38 | 1.47 | 8.47 | 8.11 | 0.52 | 0.74 | 0.83 | 0.08 | 9.82 | 8.93 | -0.89 |
| 30All sectors; taxes receivable; asset | 0.45 | 0.58 | 0.30 | 0.88 | 0.45 | 0.12 | 0.88 | 0.57 | -0.31 | ||||||||
| 31Rest of the world; U.S. direct investment abroad: intercompany debt, including Netherlands Antillean Financial subsidiaries; liability | -0.05 | -0.05 | -0.02 | -0.07 | -0.07 | -0.07 | |||||||||||
| 32Rest of the world; foreign direct investment in U.S.: intercompany debt; asset | 0.32 | 0.32 | 0.12 | 0.43 | 0.43 | 0.43 | |||||||||||
| 33All sectors; total miscellaneous assets | 1.78 | 0.05 | 19.09 | 16.82 | 1.39 | 0.19 | 2.70 | 21.06 | 20.95 | 14.59 | 9.72 | 0.36 | 0.44 | 36.01 | 31.11 | -4.90 |
Source: Federal Reserve Board, Financial Accounts of the United States (Z.1).