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HOLDINGS OF U.S. MUNICIPAL SECURITIES AND LOANS, 2005-2009

($ billions, end of year)

   2005 2006 2007 2008 2009 Percent change,
2005-2009
Total $2,225.9 $2,403.3 $2,618.9 $2,676.0 $2,803.7 26.0%
Household sector 820.9 872.0 896.0 907.2 998.9 21.7
Nonfinancial corporate business 32.1 28.1 29.2 26.6 27.1 -15.6
Nonfarm noncorporate business 4.4 5.8 5.3 5.6 5.2 18.2
State and local governments 5.0 5.5 5.8 5.9 6.3 26.0
Rest of the world 29.0 34.4 45.1 41.0 60.6 109.0
Commercial banking 157.7 180.2 192.9 216.7 218.6 38.6
Savings institutions 9.0 11.2 11.0 7.8 9.2 2.2
Property/casualty insurance companies 313.2 335.2 371.3 381.9 369.4 17.9
Life insurance companies 32.5 36.6 41.4 47.1 73.3 125.5
State and local govt retirement funds 1.7 3.3 2.4 1.4 1.5 -11.8
Money market mutual funds 336.8 370.3 471.0 494.6 401.3 19.2
Mutual funds 311.7 344.4 372.2 389.6 480.2 54.1
Closed-end funds 89.4 89.4 91.3 78.5 81.8 -8.5
Government-sponsored enterprises 39.7 36.1 33.3 31.3 29.1 -26.7
Brokers and dealers 42.9 50.9 50.1 38.7 35.4 -17.5

Source: Board of Governors of the Federal Reserve System, June 10, 2010.