�F.118 Private Pension Funds (1)������������
�Billions of dollars; quarterly figures are seasonally adjusted annual rates������������
2001 2002 2003 2004 2005 2005 2006
Q1 Q2 Q3 Q4 Q1 Q2
�stock price direction� DOWN DOWN DOWN UP UP UP DOWN UP UP UP DOWN
�bond price direction UP UP UP UP DOWN DOWN UP DOWN DOWN DOWN DOWN
1 Gross saving 0.6 0.6 0.7 0.7 0.8 0.7 0.8 0.8 0.8 0.8 0.8 1
2 Fixed nonresidential investment 0.7 0.3 0.2 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.4 2
3 Net acquisition of financial assets -33.1 -15.3 -39.7 -86.9 -82.5 -115.8 -30.3 -106.4 -77.3 -31.2 -16.3 3
4 Checkable deposits and currency -0.8 0.3 0.2 0.1 0.2 0.2 0.2 0.3 0.2 0.4 0.5 4
5 Time and savings deposits -36.4 -3.9 3.0 -4.6 6.1 -6.2 15.7 14.4 0.5 -10.8 2.4 5
6 Money market fund shares -6.1 7.4 1.8 0.6 1.9 1.3 1.1 2.2 2.8 3.4 3.1 6
7 Security RPs -8.9 1.3 1.4 0.6 1.1 3.6 0.0 0.0 0.7 1.4 0.8 7
8 Credit market instruments -36.0 -13.6 57.2 -5.3 13.5 -3.5 4.6 17.7 35.0 43.4 72.8 8
9 Open market paper -8.2 2.2 -3.2 0.6 1.1 2.8 3.4 1.2 -2.9 1.8 8.0 9
10 Treasury securities -7.6 -3.4 13.3 -4.1 3.3 6.2 2.6 5.7 -1.1 5.3 9.8 10
11 Agency- and GSE-backed securities 5.1 -19.4 33.3 17.5 -0.4 -9.4 -17.5 -3.5 28.8 19.7 37.7 11
12 Corporate and foreign bonds -23.1 6.4 13.9 -19.1 9.6 -2.7 16.2 14.4 10.6 16.8 17.7 12
13 Mortgages -2.2 0.6 -0.1 -0.2 -0.2 -0.3 -0.1 -0.1 -0.3 -0.2 -0.3 13
14 Corporate equities 104.0 -71.7 -99.6 -68.0 -87.1 -97.1 -43.0 -98.4 -109.8 -56.4 -64.3 14
15 Mutual fund shares 7.7 40.8 11.7 24.2 -0.5 -5.6 14.7 -9.2 -2.0 15.0 3.5 15
16 Miscellaneous assets -56.6 24.1 -15.4 -34.5 -17.5 -8.4 -23.6 -33.4 -4.6 -27.8 -35.0 16
17 Unallocated insurance contracts (2) 11.5 16.4 -14.4 -32.6 -10.7 9.2 -21.1 -32.7 1.8 -14.3 -26.6 17
18 Contributions receivable -24.6 1.5 -0.2 -3.1 -1.9 -4.6 -6.4 9.3 -5.9 -2.0 -2.0 18
19 Other -43.5 6.2 -0.8 1.2 -4.9 -13.0 3.9 -10.0 -0.6 -11.4 -6.4 19
20 Pension fund reserves (liabilities) (3) -33.0 -15.7 -40.2 -87.3 -82.9 -116.2 -30.7 -106.9 -77.7 -31.7 -16.7 20
�(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).���������
�(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.���������
�(3) Equal to the net acquisition of tangible and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector.���������