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 | 2017 | 2018 | 2019 | 2019 Q1 | 2019 Q2 | 2019 Q3 | 2019 Q4 | 2020 Q1 | 2020 Q2 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| All sectors; total debt securities; liability | FL894122005 | 43214.5 | 45115.6 | 47392.0 | 45454.1 | 45730.6 | 46757.1 | 47392.0 | 48325.4 | 51689.8 | 1 |
| All sectors; open market paper; liability | FL893169175 | 965.9 | 996.0 | 1045.2 | 1071.2 | 1090.4 | 1074.9 | 1045.2 | 1088.8 | 1006.6 | 2 |
| Federal government; Treasury securities; liability | FL313161105 | 16430.9 | 17842.1 | 19018.7 | 17906.3 | 17814.3 | 18571.7 | 19018.7 | 19518.4 | 22370.7 | 3 |
| All sectors; U.S. government agency securities; liability | FL893161705 | 8867.4 | 9112.9 | 9430.7 | 9146.5 | 9265.3 | 9344.4 | 9430.7 | 9770.9 | 9745.9 | 4 |
| Domestic nonfinancial sectors; municipal securities; liability | FL383162005 | 3898.2 | 3840.9 | 3860.8 | 3838.3 | 3823.4 | 3820.5 | 3860.8 | 3866.5 | 3885.9 | 5 |
| All sectors; corporate and foreign bonds; liability | FL893163005 | 13052.1 | 13323.7 | 14036.5 | 13491.9 | 13737.2 | 13945.6 | 14036.5 | 14080.9 | 14680.7 | 6 |
| All sectors; total debt securities; liability | FL894122005 | 43214.5 | 45115.6 | 47392.0 | 45454.1 | 45730.6 | 46757.1 | 47392.0 | 48325.4 | 51689.8 | 7 |
| Domestic nonfinancial sectors; debt securities; liability | FL384122005 | 25942.7 | 27438.2 | 28878.5 | 27634.2 | 27601.3 | 28429.5 | 28878.5 | 29603.5 | 32822.6 | 8 |
| Nonprofit organizations; municipal securities; liability (2) | FL163162003 | 218.7 | 216.4 | 213.2 | 215.4 | 214.7 | 214.3 | 213.2 | 210.3 | 208.0 | 9 |
| Nonfinancial corporate business; debt securities; liability | FL104122005 | 6156.1 | 6294.9 | 6554.6 | 6432.7 | 6510.5 | 6585.1 | 6554.6 | 6777.0 | 7125.5 | 10 |
| Federal government; debt securities; liability | FL314122005 | 16455.3 | 17865.0 | 19039.9 | 17928.5 | 17836.3 | 18593.1 | 19039.9 | 19539.6 | 22391.7 | 11 |
| State and local governments; municipal securities; liability | FL213162005 | 3112.7 | 3061.9 | 3070.8 | 3057.7 | 3039.8 | 3036.8 | 3070.8 | 3076.6 | 3097.5 | 12 |
| Domestic financial sectors; debt securities; liability | FL794122005 | 13927.8 | 14271.3 | 14709.1 | 14359.7 | 14521.3 | 14624.4 | 14709.1 | 15233.9 | 15289.2 | 13 |
| U.S.-chartered depository institutions; debt securities; liability | FL764122005 | 223.2 | 247.5 | 209.7 | 235.6 | 230.3 | 209.7 | 209.7 | 232.9 | 242.0 | 14 |
| Foreign banking offices in the U.S.; open market paper; liability | FL753169175 | 38.1 | 40.8 | 38.5 | 37.9 | 38.6 | 39.8 | 38.5 | 51.1 | 43.2 | 15 |
| Government-sponsored enterprises; GSE issues; liability | FL403161705 | 6716.3 | 6797.3 | 7002.2 | 6808.4 | 6901.8 | 6952.7 | 7002.2 | 7318.1 | 7305.1 | 16 |
| Agency-and GSE-backed mortgage pools; total mortgages; asset | FL413065005 | 2126.8 | 2292.6 | 2407.3 | 2315.8 | 2341.5 | 2370.2 | 2407.3 | 2431.6 | 2419.8 | 17 |
| Issuers of asset-backed securities; debt securities; liability | FL674122005 | 1138.6 | 1137.0 | 1193.4 | 1147.1 | 1146.1 | 1179.5 | 1193.4 | 1229.5 | 1216.8 | 18 |
| Finance companies; debt securities; liability | FL614122005 | 835.1 | 879.2 | 835.4 | 859.2 | 844.9 | 850.0 | 835.4 | 859.4 | 857.7 | 19 |
| Real estate investment trusts; debt securities; liability | FL644122005 | 439.0 | 470.0 | 539.8 | 482.9 | 502.5 | 521.0 | 539.8 | 529.8 | 563.3 | 20 |
| Security brokers and dealers; corporate and foreign bonds; liability | FL663163003 | 185.7 | 184.0 | 174.0 | 181.9 | 205.9 | 183.3 | 174.0 | 256.9 | 179.7 | 21 |
| Holding companies; debt securities; liability | FL734122005 | 1448.6 | 1401.7 | 1449.7 | 1441.2 | 1479.2 | 1471.9 | 1449.7 | 1542.5 | 1606.9 | 22 |
| Other financial business; debt securities; liability | FL504122005 | 776.5 | 821.2 | 859.1 | 849.6 | 830.7 | 846.2 | 859.1 | 782.0 | 854.6 | 23 |
| Rest of the world; debt securities, excluding negotiable certificates of deposit; liability | LM264122005 | 3344.0 | 3406.1 | 3804.5 | 3460.3 | 3608.0 | 3703.2 | 3804.5 | 3488.0 | 3578.0 | 24 |
| All sectors; total debt securities; asset | FL894022005 | 43505.5 | 44382.3 | 48479.8 | 45429.4 | 46420.0 | 47911.9 | 48479.8 | 49750.9 | 53983.5 | 25 |
| Domestic nonfinancial sectors; debt securities; asset | FL384022005 | 6281.0 | 7007.1 | 7720.2 | 7120.9 | 7510.2 | 7622.0 | 7720.2 | 7568.2 | 7499.0 | 26 |
| Households and nonprofit organizations; debt securities; asset | LM154022005 | 4467.6 | 5208.9 | 5801.1 | 5318.7 | 5750.2 | 5780.8 | 5801.1 | 5621.8 | 5382.4 | 27 |
| Nonfinancial corporate business; debt securities; asset | LM104022005 | 236.0 | 253.2 | 328.7 | 254.1 | 278.8 | 322.0 | 328.7 | 365.8 | 380.1 | 28 |
| Nonfinancial noncorporate business; debt securities; asset | LM114022005 | 75.1 | 80.9 | 85.9 | 82.1 | 83.2 | 84.7 | 85.9 | 91.6 | 94.0 | 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 | 1501.8 | 1463.6 | 1503.9 | 1465.4 | 1397.5 | 1434.1 | 1503.9 | 1488.4 | 1641.9 | 31 |
| Domestic financial sectors; debt securities; asset | FL794022005 | 25882.6 | 26189.2 | 28688.8 | 26735.5 | 27088.3 | 28195.3 | 28688.8 | 30145.8 | 33983.4 | 32 |
| Monetary authority; debt securities; asset | LM714022005 | 4448.3 | 3982.6 | 4011.9 | 3953.9 | 3900.4 | 3897.9 | 4011.9 | 5312.9 | 6847.7 | 33 |
| U.S.-chartered depository institutions; debt securities; asset | LM764022005 | 3757.4 | 3760.5 | 4083.5 | 3847.5 | 3927.8 | 4058.5 | 4083.5 | 4272.3 | 4588.6 | 34 |
| Foreign banking offices in the U.S.; debt securities; asset | LM754022005 | 303.3 | 318.1 | 309.0 | 312.9 | 325.6 | 334.4 | 309.0 | 340.2 | 334.4 | 35 |
| Banks in U.S.-affiliated areas; debt securities; asset | LM744022003 | 14.7 | 19.5 | 33.6 | 20.8 | 28.7 | 31.1 | 33.6 | 34.0 | 38.7 | 36 |
| Credit unions; debt securities; asset | LM474022005 | 213.0 | 201.8 | 221.3 | 213.4 | 215.9 | 216.8 | 221.3 | 235.2 | 278.9 | 37 |
| Property-casualty insurance companies; debt securities; asset | LM514022005 | 1097.2 | 1118.6 | 1192.8 | 1154.4 | 1177.6 | 1194.3 | 1192.8 | 1190.8 | 1268.3 | 38 |
| Life insurance companies; debt securities; asset | LM544022005 | 3585.8 | 3502.6 | 4018.9 | 3685.2 | 3859.4 | 3995.9 | 4018.9 | 3979.3 | 4301.1 | 39 |
| Private pension funds; debt securities; asset | LM574022005 | 1391.2 | 1416.1 | 1607.8 | 1488.6 | 1500.2 | 1572.9 | 1607.8 | 1614.1 | 1684.4 | 40 |
| Federal government retirement funds; debt securities; asset | LM344022005 | 1753.7 | 2061.9 | 2177.0 | 1810.1 | 1738.4 | 2073.4 | 2177.0 | 2181.1 | 2184.6 | 41 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 955.0 | 975.6 | 955.5 | 1024.4 | 1007.7 | 1006.8 | 955.5 | 971.2 | 951.9 | 42 |
| Money market funds; debt securities; asset | FL634022005 | 1680.7 | 1862.3 | 2181.3 | 1895.1 | 1798.9 | 2029.8 | 2181.3 | 2568.7 | 3544.2 | 43 |
| Mutual funds; debt securities; asset (market value) | LM654022005 | 4514.5 | 4541.8 | 5186.3 | 4733.2 | 4914.9 | 5075.1 | 5186.3 | 4805.1 | 5092.4 | 44 |
| Closed-end funds; debt securities; asset | LM554022005 | 168.0 | 161.0 | 171.4 | 166.7 | 169.3 | 171.1 | 171.4 | 151.9 | 162.5 | 45 |
| Exchange-traded funds; debt securities; asset | LM564022005 | 556.5 | 636.1 | 825.0 | 692.7 | 745.4 | 789.6 | 825.0 | 830.5 | 944.3 | 46 |
| Government-sponsored enterprises; debt securities; asset | FL404022005 | 404.0 | 407.0 | 465.4 | 416.7 | 432.2 | 455.7 | 465.4 | 477.7 | 538.1 | 47 |
| Issuers of asset-backed securities; debt securities; asset | FL674022005 | 12.3 | 20.4 | 33.0 | 24.3 | 26.5 | 29.1 | 33.0 | 32.0 | 30.6 | 48 |
| Finance companies; corporate and foreign bonds; asset | LM613063003 | 63.8 | 55.3 | 60.0 | 54.1 | 53.1 | 56.7 | 60.0 | 58.8 | 61.3 | 49 |
| Real estate investment trusts; debt securities; asset | FL644022005 | 297.6 | 324.5 | 386.6 | 355.0 | 377.7 | 384.3 | 386.6 | 246.8 | 242.1 | 50 |
| Security brokers and dealers; debt securities; asset | LM664022005 | 306.1 | 443.9 | 412.6 | 434.0 | 449.7 | 449.7 | 412.6 | 470.4 | 464.0 | 51 |
| Holding companies; long-term debt securities; asset | LM734022605 | 67.2 | 97.3 | 132.0 | 100.9 | 110.7 | 128.6 | 132.0 | 123.4 | 127.4 | 52 |
| Other financial business; debt securities; asset | FL504022005 | 292.5 | 282.3 | 224.1 | 351.7 | 328.1 | 243.5 | 224.1 | 249.2 | 297.8 | 53 |
| Rest of the world; debt securities, excluding negotiable certificates of deposit; asset | LM264022005 | 11341.9 | 11186.0 | 12070.9 | 11573.1 | 11821.4 | 12094.6 | 12070.9 | 12036.9 | 12501.1 | 54 |
| Instrument discrepancies; debt securities (level) (3) | LM904022005 | -291.0 | 733.2 | -1087.8 | 24.7 | -689.3 | -1154.8 | -1087.8 | -1425.5 | -2293.7 | 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: September 21, 2020