During the quarter, this sector's primary applications of funds were in reduction of pension liabilities, securities repurchase agreements, miscellaneous assets, and open market paper. Sources of funds were the sale of corporate stock in portfolio, Treasury securities, and deposits.
Net flows that were more than ten percent of net applications or net sources were as follows (US$ billions):
Applications of funds: |
|
| Red. Pension Liabilities | 24.6 |
Security RPs |
10.6 |
| Misc. Assets | 4.9 |
| Open Market Paper | 4.6 |
Sources of funds: |
|
Sale of Equities |
16.4 |
Treasury Securities |
11.1 |
| Deposits | 9.2 |
Sales of equities were into a rising market and purchases of corporate bonds were in a falling market.