Financial Accounts of the United States - Z.1
L.208 Debt Securities (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted| Description | Series code | 2021 | 2022 | 2023 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| All sectors; total debt securities; liability | FL894122005 | 53799.8 | 55882.4 | 59195.6 | 55193.2 | 55882.4 | 56891.6 | 57354.3 | 58130.2 | 59195.6 | 1 |
| All sectors; open market paper; liability | FL893169175 | 1051.8 | 1227.6 | 1234.9 | 1165.9 | 1227.6 | 1182.9 | 1191.1 | 1230.6 | 1234.9 | 2 |
| Federal government; Treasury securities; liability | FL313161105 | 22557.5 | 23845 | 26226.6 | 23616.7 | 23845 | 24282 | 24772.4 | 25630.2 | 26226.6 | 3 |
| All sectors; U.S. government agency securities; liability | FL893161705 | 10699.2 | 11678.6 | 11960 | 11442.4 | 11678.6 | 12041.3 | 11972.4 | 11938.8 | 11960 | 4 |
| Domestic nonfinancial sectors; municipal securities; liability | FL383162005 | 4083.8 | 4031.3 | 4052.1 | 4054.3 | 4031.3 | 4035.4 | 4051.2 | 4040.7 | 4052.1 | 5 |
| All sectors; corporate and foreign bonds; liability | FL893163005 | 15407.5 | 15099.9 | 15722.1 | 14913.9 | 15099.9 | 15349.9 | 15367.3 | 15289.9 | 15722.1 | 6 |
| All sectors; total debt securities; liability | FL894122005 | 53799.8 | 55882.4 | 59195.6 | 55193.2 | 55882.4 | 56891.6 | 57354.3 | 58130.2 | 59195.6 | 7 |
| Domestic nonfinancial sectors; debt securities; liability | FL384122005 | 33975.8 | 35288.8 | 37929.8 | 35078.3 | 35288.8 | 35897.8 | 36418.3 | 37289 | 37929.8 | 8 |
| Nonprofit organizations; municipal securities; liability (2) | FL163162003 | 202.7 | 201.8 | 203.9 | 201.6 | 201.8 | 201.9 | 204.1 | 204.2 | 203.9 | 9 |
| Nonfinancial corporate business; debt securities; liability | FL104122005 | 7933 | 8011.9 | 8248.5 | 8007.9 | 8011.9 | 8179.8 | 8198.7 | 8217.4 | 8248.5 | 10 |
| Federal government; debt securities; liability | FL314122005 | 22577.3 | 23864.8 | 26246.7 | 23636.1 | 23864.8 | 24301.8 | 24790.4 | 25649.7 | 26246.7 | 11 |
| State and local governments; municipal securities; liability | FL213162005 | 3262.8 | 3210.4 | 3230.6 | 3232.7 | 3210.4 | 3214.3 | 3225.1 | 3217.7 | 3230.6 | 12 |
| Domestic financial sectors; debt securities; liability | FL794122005 | 15605.6 | 16880.3 | 17369 | 16459.4 | 16880.3 | 17242.5 | 17210.2 | 17185.5 | 17369 | 13 |
| U.S.-chartered depository institutions; debt securities; liability | FL764122005 | 311.8 | 465.6 | 471.2 | 396.7 | 465.6 | 424 | 454.4 | 462.5 | 471.2 | 14 |
| Foreign banking offices in the U.S.; open market paper; liability | FL753169175 | 53.7 | 112 | 156.8 | 97.6 | 112 | 112.8 | 123.8 | 126.9 | 156.8 | 15 |
| Government-sponsored enterprises; GSE issues; liability | FL403161705 | 8177.6 | 8970.8 | 9069.1 | 8785.7 | 8970.8 | 9303.7 | 9189.4 | 9098.3 | 9069.1 | 16 |
| Agency-and GSE-backed mortgage pools; total mortgages; asset | FL413065005 | 2501.8 | 2687.9 | 2870.7 | 2637.4 | 2687.9 | 2717.9 | 2765 | 2820.9 | 2870.7 | 17 |
| Issuers of asset-backed securities; debt securities; liability | FL674122005 | 1388.3 | 1469.4 | 1505.7 | 1472.5 | 1469.4 | 1483.8 | 1487.3 | 1498.3 | 1505.7 | 18 |
| Finance companies; debt securities; liability | FL614122005 | 1085.3 | 1062.4 | 1158.1 | 1037 | 1062.4 | 1068.5 | 1103 | 1112.7 | 1158.1 | 19 |
| Mortgage real estate investment trusts; debt securities; liability | FL644122075 | 203.8 | 216.8 | 216.5 | 210.6 | 216.8 | 216.3 | 211.6 | 208.7 | 216.5 | 20 |
| Security brokers and dealers; corporate and foreign bonds; liability | FL663163003 | 217.7 | 236.1 | 236.2 | 223.6 | 236.1 | 229.3 | 211.2 | 221 | 236.2 | 21 |
| Holding companies; debt securities; liability | FL734122005 | 1544.9 | 1541.8 | 1556.2 | 1472.6 | 1541.8 | 1548 | 1541.2 | 1486.4 | 1556.2 | 22 |
| Other financial business; debt securities; liability | FL504122005 | 120.6 | 117.4 | 128.4 | 125.6 | 117.4 | 138.3 | 123.3 | 149.8 | 128.4 | 23 |
| Rest of the world; debt securities, excluding negotiable certificates of deposit; liability | LM264122005 | 4218.4 | 3713.2 | 3896.8 | 3655.5 | 3713.2 | 3751.3 | 3725.8 | 3655.7 | 3896.8 | 24 |
| All sectors; total debt securities; asset | FL894022005 | 55132.6 | 51044.7 | 55570.6 | 49867 | 51044.7 | 52859.2 | 52877.4 | 52374.5 | 55570.6 | 25 |
| Domestic nonfinancial sectors; debt securities; asset | FL384022005 | 5513.7 | 7012.2 | 8474.8 | 6257.1 | 7012.2 | 7779.9 | 7916.6 | 7984.8 | 8474.8 | 26 |
| Households and nonprofit organizations; debt securities; asset | LM154022005 | 2985.7 | 4434.3 | 5670.7 | 3744.7 | 4434.3 | 5096.8 | 5222.4 | 5313.9 | 5670.7 | 27 |
| Nonfinancial corporate business; debt securities; asset | LM104022005 | 409.6 | 369.1 | 446.1 | 358.2 | 369.1 | 370.1 | 380.8 | 417.3 | 446.1 | 28 |
| Nonfinancial noncorporate business; debt securities; asset | LM114022005 | 75.9 | 76.9 | 78.4 | 75.8 | 76.9 | 77 | 77.8 | 78.5 | 78.4 | 29 |
| Federal government; debt securities; asset | FL314022005 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 30 |
| State and local governments; debt securities; asset | LM214022005 | 2042.1 | 2131.4 | 2279.1 | 2078 | 2131.4 | 2235.5 | 2235 | 2174.6 | 2279.1 | 31 |
| Domestic financial sectors; debt securities; asset | FL794022005 | 35967.3 | 31429.5 | 33185.5 | 31316.5 | 31429.5 | 32128 | 31845.7 | 31341.9 | 33185.5 | 32 |
| Monetary authority; debt securities; asset | LM714022005 | 8733.2 | 7349.1 | 6454.6 | 7507.3 | 7349.1 | 7243.2 | 6902.1 | 6393.6 | 6454.6 | 33 |
| U.S.-chartered depository institutions; debt securities; asset | LM764022005 | 6319.8 | 5620.5 | 5361.7 | 5660 | 5620.5 | 5575.3 | 5406.8 | 5169.2 | 5361.7 | 34 |
| Foreign banking offices in the U.S.; debt securities; asset | LM754022005 | 286.1 | 297.8 | 271.5 | 304.4 | 297.8 | 280.4 | 290 | 275.7 | 271.5 | 35 |
| Banks in U.S.-affiliated areas; debt securities; asset | LM744022003 | 47.5 | 50.9 | 73.2 | 54.5 | 50.9 | 50 | 49.6 | 68.9 | 73.2 | 36 |
| Credit unions; debt securities; asset | LM474022005 | 403.1 | 385.4 | 351.7 | 395.5 | 385.4 | 381.3 | 370.6 | 356.1 | 351.7 | 37 |
| Property-casualty insurance companies; debt securities; asset | LM514022005 | 1320.1 | 1241.7 | 1411.4 | 1183.2 | 1241.7 | 1290 | 1288.9 | 1300.9 | 1411.4 | 38 |
| Life insurance companies; debt securities; asset | LM544022005 | 4569.2 | 3904.9 | 4226.1 | 3796.4 | 3904.9 | 4065 | 4054.5 | 3942.6 | 4226.1 | 39 |
| Private pension funds; debt securities; asset | LM574022005 | 1821 | 1679.1 | 1908.6 | 1606.3 | 1679.1 | 1778.3 | 1814.6 | 1779.6 | 1908.6 | 40 |
| Federal government retirement funds; debt securities; asset | LM344022005 | 48.9 | 39.7 | 43.1 | 38.3 | 39.7 | 41 | 42.2 | 40.8 | 43.1 | 41 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 1195.8 | 1043.2 | 1151.2 | 1042.8 | 1043.2 | 1114.9 | 1092.1 | 1078.1 | 1151.2 | 42 |
| Money market funds; debt securities; asset | FL634022005 | 2568.8 | 2022 | 3414.8 | 2113.2 | 2022 | 2206.9 | 2392.5 | 2881.2 | 3414.8 | 43 |
| Mutual funds; debt securities; asset (market value) | LM654022005 | 5897.2 | 4793.9 | 5175.1 | 4810.7 | 4793.9 | 4931.1 | 4975.7 | 4861.3 | 5175.1 | 44 |
| Closed-end funds; debt securities; asset | LM554022005 | 186.6 | 153.1 | 155.4 | 150.1 | 153.1 | 153.8 | 152 | 145.9 | 155.4 | 45 |
| Exchange-traded funds; debt securities; asset | LM564022005 | 1215.3 | 1258.7 | 1491 | 1177.2 | 1258.7 | 1336.9 | 1371.7 | 1367.3 | 1491 | 46 |
| Government-sponsored enterprises; debt securities; asset | LM404022005 | 430.2 | 395.6 | 441.6 | 398.9 | 395.6 | 407.9 | 421.6 | 427.2 | 441.6 | 47 |
| Issuers of asset-backed securities; debt securities; asset | FL674022005 | 31.9 | 36.4 | 31.4 | 36.3 | 36.4 | 36.4 | 34.5 | 33.2 | 31.4 | 48 |
| Finance companies; corporate and foreign bonds; asset | LM613063003 | 68.3 | 52 | 26.9 | 47.9 | 52 | 40.9 | 38.3 | 35.3 | 26.9 | 49 |
| Mortgage real estate investment trusts; debt securities; asset | LM644022075 | 180.4 | 159 | 188.2 | 166 | 159 | 181.3 | 181.8 | 191.1 | 188.2 | 50 |
| Security brokers and dealers; debt securities; asset | LM664022005 | 196.6 | 311.4 | 447.7 | 246.4 | 311.4 | 420.5 | 405 | 435.4 | 447.7 | 51 |
| Holding companies; long-term debt securities; asset | LM734022605 | 146.4 | 181.4 | 182.4 | 176.4 | 181.4 | 168.2 | 165.9 | 173.8 | 182.4 | 52 |
| Other financial business; debt securities; asset | FL504022005 | 301 | 453.6 | 377.7 | 404.7 | 453.6 | 424.7 | 395.5 | 384.4 | 377.7 | 53 |
| Rest of the world; debt securities, excluding negotiable certificates of deposit; asset | LM264022005 | 13651.6 | 12603.1 | 13910.2 | 12293.5 | 12603.1 | 12951.3 | 13115.1 | 13047.7 | 13910.2 | 54 |
| Instrument discrepancies; debt securities (level) (3) | LM904022005 | -1332.8 | 4837.6 | 3625 | 5326.2 | 4837.6 | 4032.4 | 4476.9 | 5755.7 | 3625 | 55 |
NOTES
- Sum of open market paper, Treasury securities, agency- and GSE-backed securities, municipal securities, and corporate and foreign bonds.
- Liability of the households and nonprofit organizations sector (tables L.101 and B.101).
- The accumulated valuation difference between issuance and holdings.
Last Update: March 7, 2024