Flow of Funds
- Overview of Japan, US, and the Euro area -
October 4, 2013
Rearch and Statistics Department
Bank of Japan
*In this paper, major ctors are compared either among Japan, the United States, and the Euro area or between Japan and the United States.
Ⅰ. Overview: Japan, US, and the Euro area
― Data for Japan and the US are tho as of June-end 2013; tho for the Euro area as of March-end 2013.
Chart 1 Financial asts and liabilities of financial intermediaries
Japan
Depository corporations ( 1,719 trillion yen )
( 1,695 trillion yen )
Insurance and Pension funds
( 550 trillion yen )
( 506 trillion yen )
Other financial intermediaries
( 670 trillion yen )
( 668 trillion yen )
Percentage ratio to the total financial asts or liabilities of the financial intermediaries
United States
Depository corporations ( 20.0 trillion dollars )蚂蚁公主
( 18.0 trillion dollars )
Insurance and Pension funds ( 23.0 trillion dollars )
( 22.2 trillion dollars )
Other financial intermediaries
( 30.3 trillion dollars )
( 30.3 trillion dollars )
Percentage ratio to the total financial asts or liabilities of the financial intermediaries
Euro area
Asts (58.8 trillion euro)
Liabilities (57.4 trillion euro)
Depository corporations (34.0 trillion euro)
(32.8 trillion euro)
Insurance and Pension funds
(7.6 trillion euro)
(7.6 trillion euro)
Other financial intermediaries
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(17.2 trillion euro)
(17.0 trillion euro)
Percentage ratio to the total financial asts or liabilities of the financial intermediaries
* "Depository corporations" for Euro area includes central bank ctor.
** "Others" is the residual which is the remaining after deducting "Currency and deposits","Deposits with the Fiscal Loan Fund"(Japan only),"Loans", "Bonds", "Investment trusts","Shares and equities" and "Insurance and pension rerves" from total financial asts/liabilities.*** "Currency and deposits" held by depository corporations includes "Vault cash" and "Rerves at Federal Rerve".
75
50
25
25
50
75
Chart 2 Financial asts held by houholds
( 1,590 trillion yen )
( 61.9 trillion dollars )
(19.9 trillion euro)
Percentage ratio to the total financial asts
* "Others" is the residual which is the remaining after deducting "Currency and deposits", "Bonds","Investment trusts", "Shares and equities" and "Insurance and pension rerves" from total financial asts.
( 1,168 trillion yen )
( 32.3 trillion dollars )
(27.1 trillion euro)
香港电压Percentage ratio to the total financial liabilities
* "Others" is the residual which is the remaining after deducting "Loans", "Bonds", and "Shares and equities" from total financial liabilities. ** Figures for the Euro area consist of nonfinancial corporations, which include both public and private nonfinancial corporations.
Chart 3 Financial liabilities owed by private nonfinancial corporations
0 10 20 30 40 50 60 70 80 90 100
Euro area
United States
Japan
0 10 20 30 40 50 60 70 80 90 100
Euro area
United States
Japan
Chart 4 Financial surplus and deficit of major ctors (as a percentage of nominal GDP)Japan
United States
Euro area
* Figures for 2013 are the sum of the data of the most recent four quarters: up to the 2nd quarter of 2013 for Japan and the United States, and up to the 1st quarter of 2013 for the Euro area.
** See notes on the last page for the definition of each ctor.
*** Figures for the Japane general government are recalculated to neutralize the following effects: transfer of rerves in the FILP Special Account to the central government; and investment in eq
uities to the Japan Post Holdings.
-15
-10
-5
5
10
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
20122013(%)Calendar year
Private nonfinancial corporations General government Houholds
Rest of the world (Financial surplus)
(Financial deficit)
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-15
-10
-5
5
10
普陀山二日游1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
20122013(%)Calendar year
Private nonfinancial corporations
General government Houholds
Rest of the world (Financial surplus)
(Financial deficit)
-15
-10
-5
5
10
1999
2000
2001
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2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
20122013(%)Calendar year
Nonfinancial corporations
General government Houholds
Rest of the world (Financial surplus)
(Financial deficit)
Ⅱ．Overview: Japan and US
― Data for Japan and the US are tho as of June-end 2013.
Chart 5 Financial asts held by investment trusts
(116.2 trillion yen)
( 14.5 trillion dollars )
Percentage ratio to the total financial asts
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* "Others" is the residual which is the remaining after deducting "Currency and deposits","Loans","Bonds","Shares and equities" and "Outward investment in curities"(Japan only) from total financial asts.
** US Flow of Funds data include both outward and domestic investment in curities.
Chart 6 Financial asts held by pension funds
(134.8 trillion yen)
Percentage ratio to the total financial asts
* "Others" is the residual which is the remaining after deducting "Currency and deposits","Loans","Bonds","Investment trusts","Shares and equities"
and "Outward investment in curities"(Japan only) from total financial asts. ** US Flow of Funds data include both outward and domestic investment in curities.
Chart 7 Financial asts held by insurance
Percentage ratio to the total financial asts
* "Others" is the residual which is the remaining after deducting "Currency and deposits","Loans","Bonds","Investment trusts","Shares and equities" and "Outward investment in curities"(Japan only) from total financial asts. ** US Flow of Funds data include both outward and domestic investment in curities.
0 10 20 30 40 50 60 70 80 90 100
United States Japan 0 10 20 30 40 50 60 70 80 90 100
United States
Japan 0 10 20 30 40 50 60 70 80 90 100
United States
Japan
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