F.124 Government-Sponsored Enterprises (1)            
 Billions of dollars; quarterly figures are seasonally adjusted annual rates            
 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
2001 2002 2003 2004 2005 2005 2006
Q1 Q2 Q3 Q4 Q1 Q2
1 Gross saving 3.0 3.1 3.2 3.5 4.1 4.6 4.1 3.9 3.7 3.9 4.0 1
2 Fixed nonresidential investment 0.4 0.5 0.5 0.6 0.6 0.6 0.6 0.6 0.5 0.6 0.6 2
3 Net acquisition of financial assets 344.4 240.0 236.5 84.5 -65.0 -195.9 -80.3 -188.6 204.8 92.4 182.4 3
4 Checkable deposits and currency 2.3 8.1 12.0 10.1 -25.7 -62.9 -42.5 0.2 2.4 0.3 1.2 4
5 Time and savings deposits 8.1 -5.1 -8.5 9.0 11.6 -7.1 19.8 2.7 30.9 -3.5 -12.3 5
6 Federal funds and security RPs 23.8 -9.1 -20.0 15.8 24.2 -11.6 10.0 92.6 5.7 26.8 2.9 6
7 Credit market instruments 304.7 224.1 236.5 46.2 -65.4 -54.8 -88.8 -263.5 145.3 67.5 136.3 7
8 Open market paper 2.7 -23.5 -2.4 -2.0 2.2 2.5 3.5 -3.0 5.8 0.7 5.0 8
9 Treasury securities 0.4 12.1 -12.3 -0.6 0.2 0.7 -1.9 1.0 1.0 1.5 1.3 9
10 Agency- and GSE-backed securities 206.9 131.7 88.8 -130.3 -163.6 -185.4 -227.9 -300.0 58.9 -20.0 31.5 10
11 Municipal securities 6.2 4.0 5.0 0.2 -0.8 5.6 -1.8 -10.9 4.0 5.0 6.3 11
12 Corporate and foreign bonds 24.6 33.5 36.6 110.8 48.0 60.6 55.1 29.3 47.0 28.5 36.3 12
13 Other loans and advances 28.3 8.9 31.1 73.5 49.7 47.6 89.6 30.3 31.4 38.5 53.1 13
14 Sallie Mae 0.0 -0.4 -0.1 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14
15 Farm Credit System 2.9 2.0 0.0 -0.2 5.4 8.8 2.3 5.1 5.5 21.9 8.5 15
16 FHLB loans 25.4 7.2 31.2 74.1 44.3 38.8 87.4 25.2 25.9 16.7 44.6 16
17 Mortgages 33.2 59.8 106.0 15.1 -1.2 13.6 -5.5 -10.2 -2.8 13.2 2.7 17
18 Home 20.5 45.5 92.2 -0.4 -14.7 0.3 -18.0 -28.8 -12.4 7.2 -4.7 18
19 Multifamily residential 8.2 8.5 10.9 12.4 11.9 11.3 7.2 16.0 12.9 3.9 2.1 19
20 Farm 4.5 5.8 2.9 3.2 1.7 2.0 5.3 2.7 -3.3 2.2 5.4 20
21 Consumer credit (2) 2.4 -2.5 -16.3 -20.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21
22 Miscellaneous assets 5.5 22.0 16.5 3.4 -9.6 -59.4 21.3 -20.6 20.4 1.3 54.3 22
23 Net increase in liabilities 351.6 247.6 217.2 63.9 -82.2 -224.4 -77.5 -226.2 199.2 96.1 186.9 23
24 Credit market instruments 304.1 219.8 243.7 65.0 -84.2 -209.6 -84.2 -243.9 200.9 144.8 299.5 24
25 GSE issues (3) 304.1 219.8 243.7 65.0 -84.2 -209.6 -84.2 -243.9 200.9 144.8 299.5 25
26 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26
27 Miscellaneous liabilities 47.4 27.7 -26.6 -1.1 2.0 -14.8 6.7 17.7 -1.7 -48.7 -112.6 27
28 Discrepancy 9.8 10.2 -16.7 -17.7 -13.7 -24.5 6.3 -34.2 -2.5 7.0 7.9 28
 (1) Federal Home Loan Banks, Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Agricultural Mortgage Corporation, Farm Credit System, the Financing            
 Corporation, and the Resolution Funding Corporation. The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4.            
 (2) Sallie Mae student loans.            
 (3) Such issues are classified as agency- and GSE-backed securities.