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HOLDINGS OF U.S. MUNICIPAL SECURITIES AND LOANS, 2006-2010

($ billions, end of year)

  2006 2007 2008 2009 2010 Percent change,
2006-2010
Total $2,403.2 $2,618.8 $2,680.2 $2,808.9 $2,925.3 21.7%
Household sector 872.0 896.0 903.8 1,009.6 1,083.8 24.3
Nonfinancial corporate business 28.1 29.2 26.2 27.3 23.7 -15.7
Nonfarm noncorporate business 5.8 5.3 4.9 4.5 4.3 -25.9
State and local governments 5.5 5.7 5.6 5.9 6.3 14.5
Rest of the world 34.4 45.1 50.5 57.0 73.0 112.2
Commercial banking 180.2 192.9 216.7 218.6 246.1 36.6
Savings institutions 11.2 11.0 7.8 9.2 11.1 -0.9
Property/casualty insurance companies 335.2 371.3 381.9 369.4 348.4 3.9
Life insurance companies 36.6 41.4 47.1 73.1 113.3 209.6
State and local govt retirement funds 3.3 2.4 1.4 1.5 1.6 -51.5
Money market mutual funds 370.3 471.0 494.6 401.3 334.4 -9.7
Mutual funds 344.4 372.2 389.6 480.2 526.6 52.9
Closed-end funds 89.4 91.3 77.9 80.9 80.3 -10.2
Exchange-traded funds 0.0 0.6 2.3 5.9 7.6 NA
Government-sponsored enterprises 36.1 33.3 31.3 29.1 24.9 -31.0
Brokers and dealers 50.9 50.1 38.7 35.4 40.0 -21.4

NA=Not applicable.

Source: Board of Governors of the Federal Reserve System, June 9, 2011.