Appendix Table 1
Matching the assets and liabilities in the Distributional Financial Accounts (DFA) and the Financial Accounts of the US (FAUS): The manual crosswalk of quintile-level income variables in the DFA data set to aggregate income variables in the FAUS data set
| DFA quintile-level income shares | FAUS aggregate income |
|---|---|
| Financial assets | Personal sector; total financial assets |
| Checkable deposits and currency | Households and nonprofit organizations; private foreign deposits; asset |
| Personal sector; checkable deposits and currency; asset | |
| Money market fund shares | Personal sector; money market fund shares; asset |
| Time deposits and short-term investments | Personal sector; total time and savings deposits; asset |
| Debt securities | Personal sector; debt securities; asset |
| U.S. government and municipal securities | Personal sector; Treasury securities; asset |
| Households and nonprofit organizations; agency- and GSE-backed securities; asset | |
| Personal sector; municipal securities; asset | |
| Corporate and foreign bonds | Households and nonprofit organizations; corporate and foreign bonds; asset |
| Loans (assets) | Personal sector; loans; asset |
| Corporate equities and mutual fund shares | Households and nonprofit organizations; corporate equities; asset |
| Households and nonprofit organizations; mutual fund shares; asset | |
| Other loans and advances (assets) | Nonprofit organizations; grants and trade receivables; asset |
| Life insurance reserves | Households and nonprofit organizations; life insurance reserves; asset |
| Pension entitlements | Households and nonprofit organizations; pension entitlements; asset |
| Miscellaneous assets | Personal sector; other financial assets |
| Nonfinancial assets | Personal sector; nonfinancial assets |
| Real estate | Personal sector; residential equipment and structures, current cost basis |
| Equity in noncorporate business | Personal sector; nonresidential structures, equipment, and intellectual property products, current cost basis |
| Consumer durables | Households and nonprofit organizations; consumer durable goods, current cost basis |
| Liabilities | Personal sector; total liabilities |
| Home mortgages | Personal sector; one-to-four-family residential mortgages; liability |
| Personal sector; commercial, multifamily, and farm mortgages; liability | |
| Consumer credit | Households and nonprofit organizations; consumer credit; liability |
| Depository institutions loans n.e.c. | Personal sector; other loans and advances; liability |
| Other loans and advances (liabilities) | Personal sector; other liabilities |
| Deferred and unpaid life insurance premiums | Personal sector; net capital transfers paid |
Source: Personal savings data from the Financial Accounts of the United States and household income data from the Federal Reserve Board’s Distributional Financial Accounts (FRB 2021a; 2021b).
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