Table 3.—Major Sources of Revisions, 1986-97—Continued

[Millions of dollars]

(Credits +; debits -)/1/ 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997
Capital account
U.S. direct investment abroad, net capital flows (line 44):
Revised -75,214 -96,654 -81,072 -121,843
Changes due to 1994 benchmark survey -3,698 (/2/) (/2/) (/2/)
Changes due to reclassification of financial intermediaries -1,282 -1,982 8,386 11,364
Revisions due to updated source data -972 -7,935 -1,645 -13,763
Previously published -69,262 -86,737 -87,813 -119,444
U.S. claims reported by U.S. nonbanks (line 46):
Revised -36,336 -45,286 -86,333 -120,403
Changes due to reclassification of financial intermediaries -4,597 -10,289 -15,302 -16,360
Revisions due to updated source data -6,797 -27,745
Previously published -31,739 -34,997 -64,234 -76,298
Direct investment in the United States, net capital flows (line 57):
Revised 44,592 57,653 77,622 93,449
Changes due to reclassification of financial intermediaries -1,900 -10,961 -1,346 -54,117
Revisions due to updated source data 813 1,088 2,013 39,638
Previously published 45,679 67,526 76,955 107,928
U.S liabilities reported by U.S. nonbanks (line 61):
Revised 1,302 59,637 39,404 107,779
Changes due to reclassification of financial intermediaries 9,012 25,202 6,517 45,865
Revisions due to updated source data -153 1,101 17,174
Previously published -7,710 34,588 31,786 44,740
International investment position (at yearend)
U.S. direct investment abroad (lines 17 and 18):
Revised:
At current cost 752,148 849,651 936,954 1,023,872
At market value 1,067,803 1,307,155 1,517,084 1,793,680
Changes due to 1994 benchmark survey:
At current cost -29,589 (/2/) (/2/) (/4/)
At market value 7,090 (/2/) (/2/) (/4/)
Changes due to reclassification of financial intermediaries -16,044 -20,803 -29,189 (/4/)
Revisions due to updated source data:
At current cost -13,836 -4,655 (/4/)
At market value 15,967 11,664 (/4/)
Previously published:
At current cost 797,781 884,290 970,798 (/4/)
At market value 1,076,757 1,311,991 1,534,609 (/4/)
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns (line 22):
Revised 322,980 367,567 449,978 562,396
Changes due to reclassification of financial intermediaries 49,294 59,585 74,885 (/4/)
Revisions due to updated source data 6,038 (/4/)
Previously published 273,686 307,982 369,055 (/4/)
Direct investment in the United States (lines 35 and 36):
Revised:
At current cost 561,152 614,258 666,962 751,845
At market value 757,853 1,005,726 1,223,672 1,620,540
Changes due to reclassification of financial intermediaries -15,873 -26,834 -28,180 (/4/)
Revisions due to updated source data:
At current cost -7,945 -13,410 -33,910 (/4/)
At market value 579 -1,790 (/4/)
Previously published:
At current cost 584,970 654,502 729,052 (/4/)
At market value 773,726 1,031,981 1,253,642 (/4/)
U.S. Treasury securities (lines 28 and 37):
Revised 438,363 476,289 520,339 594,551 632,571 840,498 1,097,683 1,251,811
Changes due to 1994 inward benchmark survey -11,926 -20,313 -27,740 -30,515 -27,528 -20,393 /3/-11,825 (/4/)
Previously published 450,289 496,602 548,079 625,066 660,099 860,891 1,109,508 (/4/)
U.S. securities other than U.S. Treasury securities (lines 29, 32, and 39):
Revised 490,903 581,546 638,342 740,987 780,961 1,029,326 1,271,434 1,666,432
Changes due to 1994 inward benchmark survey -6,865 -15,210 -25,894 -42,787 -26,263 -44,535 /3/-42,183 (/4/)
Previously published 497,768 596,756 664,236 783,774 807,224 1,073,861 1,313,617 (/4/)
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns (line 42):
Revised 239,817 300,424 346,727 453,555
Changes due to reclassification of financial intermediaries 42,492 67,694 74,214 (/4/)
Revisions due to updated source data -161 978 (/4/)
Previously published 197,325 232,891 271,535 (/4/)

1. Credits +: An increase in U.S. receipts and U.S. liabilities, or a decrease in U.S. payments and U.S. claims. Debits -: An increase in U.S. payments and U.S. claims, or a decrease in U.S. receipts and U.S. liabilities.

2. Revisions due to the benchmark surveys are not separately identifiable for this period.

3. Includes some revisions due to updated source data.

4. Estimates for 1997 were not published previously.

NOTE.—For international transactions, line references are to table 1 of "U.S. International Transactions, First Quarter 1998" in this issue of the SURVEY OF CURRENT BUSINESS. For the international investment position, line references are to table 1 of "The International Investment Position of the United States in 1997" in this issue of the SURVEY.