S.3.q Households and Nonprofit Institutions Serving Households
(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,
the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.
2) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
(3) Includes variable annuities, including those in IRAs, at life insurance companies.
(4) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy
n the calculation of the change in net worth.
reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.
(5) Capital formation, net and net lending or borrowing, capital account are shown as seasonally adjusted annual rate flows. The non-seasonally adjusted flows of these series are used