Net lending or net borrowing, NIPAs

The NIPA balance on current account less net capital transfers to the rest of the world. It may be viewed as an indirect measure of the net acquisition of foreign assets by U.S. residents less the net acquisition of U.S. assets by foreign residents. Net lending or net borrowing is also calculated for each of the major sectors (private domestic business, households and institutions, federal government, and state and local government), where it represents the funds available for the acquisition of financial assets or the borrowing needs of that sector.