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Footnotes for
S.5.q Nonfinancial Corporate Business (1)


(1) Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.
(2) 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.
(3) Net equity in reserves of property-casualty 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
reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.
(5) Includes changes in the market value of shares and other equity that are excluded from the related measures for the nonfinancial corporate business sector in the Financial Accounts of the United States.
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 in the
calculation of the change in net worth.
(6) Excludes nonproduced nonfinancial assets.

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