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 | 2019 | 2020 | 2021 | 2020 Q3 | 2020 Q4 | 2021 Q1 | 2021 Q2 | 2021 Q3 | 2021 Q4 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| All sectors; total debt securities; liability | FL894122005 | 46724.4 | 53109.0 | 56187.8 | 51915.9 | 53109.0 | 53804.1 | 54574.2 | 54912.2 | 56187.8 | 1 |
| All sectors; open market paper; liability | FL893169175 | 1045.2 | 986.9 | 1014.2 | 956.9 | 986.9 | 1105.2 | 1085.4 | 1071.4 | 1014.2 | 2 |
| Federal government; Treasury securities; liability | FL313161105 | 19018.7 | 23600.9 | 25284.7 | 22900.4 | 23600.9 | 23943.0 | 24301.5 | 24249.9 | 25284.7 | 3 |
| All sectors; U.S. government agency securities; liability | FL893161705 | 9429.5 | 10086.7 | 10666.1 | 9866.2 | 10086.7 | 10226.4 | 10407.5 | 10535.9 | 10666.1 | 4 |
| Domestic nonfinancial sectors; municipal securities; liability | FL383162005 | 3897.2 | 3981.0 | 4049.7 | 3959.2 | 3981.0 | 4007.3 | 4030.0 | 4039.2 | 4049.7 | 5 |
| All sectors; corporate and foreign bonds; liability | FL893163005 | 13333.7 | 14453.6 | 15173.0 | 14233.1 | 14453.6 | 14522.3 | 14749.8 | 15015.8 | 15173.0 | 6 |
| All sectors; total debt securities; liability | FL894122005 | 46724.4 | 53109.0 | 56187.8 | 51915.9 | 53109.0 | 53804.1 | 54574.2 | 54912.2 | 56187.8 | 7 |
| Domestic nonfinancial sectors; debt securities; liability | FL384122005 | 28947.4 | 34225.2 | 36144.7 | 33494.7 | 34225.2 | 34718.4 | 35105.7 | 35122.0 | 36144.7 | 8 |
| Nonprofit organizations; municipal securities; liability (2) | FL163162003 | 212.9 | 202.5 | 201.0 | 206.4 | 202.5 | 203.2 | 202.9 | 201.9 | 201.0 | 9 |
| Nonfinancial corporate business; debt securities; liability | FL104122005 | 6596.7 | 7213.4 | 7390.4 | 7205.9 | 7213.4 | 7339.2 | 7350.0 | 7411.2 | 7390.4 | 10 |
| Federal government; debt securities; liability | FL314122005 | 19039.9 | 23621.1 | 25304.5 | 22920.6 | 23621.1 | 23962.8 | 24321.4 | 24269.4 | 25304.5 | 11 |
| State and local governments; municipal securities; liability | FL213162005 | 3097.9 | 3188.3 | 3248.8 | 3161.8 | 3188.3 | 3213.2 | 3231.4 | 3239.5 | 3248.8 | 12 |
| Domestic financial sectors; debt securities; liability | FL794122005 | 13976.6 | 14873.7 | 15688.7 | 14596.9 | 14873.7 | 15052.2 | 15350.4 | 15452.6 | 15688.7 | 13 |
| U.S.-chartered depository institutions; debt securities; liability | FL764122005 | 209.7 | 271.0 | 230.4 | 251.4 | 271.0 | 283.8 | 283.0 | 239.0 | 230.4 | 14 |
| Foreign banking offices in the U.S.; open market paper; liability | FL753169175 | 38.5 | 35.9 | 35.9 | 36.1 | 35.9 | 40.7 | 42.0 | 33.5 | 35.9 | 15 |
| Government-sponsored enterprises; GSE issues; liability | FL403161705 | 7002.2 | 7638.1 | 8144.6 | 7417.7 | 7638.1 | 7775.1 | 7928.1 | 8041.7 | 8144.6 | 16 |
| Agency-and GSE-backed mortgage pools; total mortgages; asset | FL413065005 | 2406.0 | 2428.3 | 2501.8 | 2428.4 | 2428.3 | 2431.4 | 2459.6 | 2474.7 | 2501.8 | 17 |
| Issuers of asset-backed securities; debt securities; liability | FL674122005 | 1180.2 | 1225.9 | 1369.9 | 1220.4 | 1225.9 | 1230.5 | 1256.0 | 1304.6 | 1369.9 | 18 |
| Finance companies; debt securities; liability | FL614122005 | 835.4 | 815.2 | 770.2 | 816.4 | 815.2 | 795.0 | 799.0 | 761.6 | 770.2 | 19 |
| Real estate investment trusts; debt securities; liability | FL644122005 | 539.3 | 579.9 | 633.2 | 572.9 | 579.9 | 586.3 | 611.2 | 614.4 | 633.2 | 20 |
| Security brokers and dealers; corporate and foreign bonds; liability | FL663163003 | 173.9 | 183.9 | 224.6 | 165.4 | 183.9 | 196.3 | 204.5 | 214.6 | 224.6 | 21 |
| Holding companies; debt securities; liability | FL734122005 | 1445.7 | 1577.4 | 1637.6 | 1568.9 | 1577.4 | 1538.0 | 1617.7 | 1610.9 | 1637.6 | 22 |
| Other financial business; debt securities; liability | FL504122005 | 145.7 | 118.2 | 140.4 | 119.2 | 118.2 | 174.9 | 149.3 | 157.5 | 140.4 | 23 |
| Rest of the world; debt securities, excluding negotiable certificates of deposit; liability | LM264122005 | 3800.4 | 4010.1 | 4354.3 | 3824.3 | 4010.1 | 4033.6 | 4118.0 | 4337.5 | 4354.3 | 24 |
| All sectors; total debt securities; asset | FL894022005 | 47871.8 | 55781.2 | 57406.1 | 54231.5 | 55781.2 | 54998.8 | 56280.7 | 56361.2 | 57406.1 | 25 |
| Domestic nonfinancial sectors; debt securities; asset | FL384022005 | 6759.8 | 6783.3 | 5802.8 | 6323.0 | 6783.3 | 6089.4 | 5770.0 | 5991.0 | 5802.8 | 26 |
| Households and nonprofit organizations; debt securities; asset | LM154022005 | 4714.0 | 4416.7 | 3145.6 | 3984.6 | 4416.7 | 3807.1 | 3243.3 | 3386.1 | 3145.6 | 27 |
| Nonfinancial corporate business; debt securities; asset | LM104022005 | 326.6 | 381.3 | 394.2 | 391.7 | 381.3 | 346.1 | 372.9 | 388.6 | 394.2 | 28 |
| Nonfinancial noncorporate business; debt securities; asset | LM114022005 | 80.0 | 86.6 | 85.0 | 86.8 | 86.6 | 84.0 | 84.3 | 83.5 | 85.0 | 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 | 1638.6 | 1898.1 | 2177.4 | 1859.4 | 1898.1 | 1851.6 | 2069.0 | 2132.3 | 2177.4 | 31 |
| Domestic financial sectors; debt securities; asset | FL794022005 | 28865.8 | 36091.9 | 38027.2 | 35185.5 | 36091.9 | 36225.0 | 37059.6 | 36955.0 | 38027.2 | 32 |
| Monetary authority; debt securities; asset | LM714022005 | 4011.9 | 7422.2 | 8708.3 | 7163.7 | 7422.2 | 7548.3 | 8010.8 | 8412.3 | 8708.3 | 33 |
| U.S.-chartered depository institutions; debt securities; asset | LM764022005 | 4083.5 | 5131.1 | 6233.4 | 4872.1 | 5131.1 | 5493.6 | 5747.1 | 5975.5 | 6233.4 | 34 |
| Foreign banking offices in the U.S.; debt securities; asset | LM754022005 | 309.0 | 313.5 | 286.1 | 319.4 | 313.5 | 294.7 | 289.4 | 289.5 | 286.1 | 35 |
| Banks in U.S.-affiliated areas; debt securities; asset | LM744022003 | 33.6 | 41.3 | 47.5 | 39.3 | 41.3 | 43.8 | 42.4 | 47.3 | 47.5 | 36 |
| Credit unions; debt securities; asset | LM474022005 | 221.3 | 311.1 | 409.6 | 290.9 | 311.1 | 374.2 | 374.8 | 387.1 | 409.6 | 37 |
| Property-casualty insurance companies; debt securities; asset | LM514022005 | 1192.8 | 1270.2 | 1296.3 | 1270.6 | 1270.2 | 1243.6 | 1296.6 | 1293.3 | 1296.3 | 38 |
| Life insurance companies; debt securities; asset | LM544022005 | 4023.0 | 4431.5 | 4354.3 | 4345.0 | 4431.5 | 4221.9 | 4333.3 | 4368.9 | 4354.3 | 39 |
| Private pension funds; debt securities; asset | LM574022005 | 1565.8 | 1695.5 | 1636.6 | 1677.0 | 1695.5 | 1602.7 | 1641.8 | 1640.5 | 1636.6 | 40 |
| Federal government retirement funds; debt securities; asset | LM344022005 | 2177.4 | 2326.5 | 2483.7 | 2232.0 | 2326.5 | 2317.5 | 2332.4 | 2141.7 | 2483.7 | 41 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 954.9 | 1074.6 | 1214.2 | 1021.2 | 1074.6 | 1082.3 | 1171.2 | 1173.6 | 1214.2 | 42 |
| Money market funds; debt securities; asset | FL634022005 | 2436.5 | 3525.2 | 2568.8 | 3651.0 | 3525.2 | 3606.1 | 3185.2 | 2534.5 | 2568.8 | 43 |
| Mutual funds; debt securities; asset (market value) | LM654022005 | 5095.5 | 5542.8 | 5968.2 | 5335.4 | 5542.8 | 5590.4 | 5767.1 | 5863.4 | 5968.2 | 44 |
| Closed-end funds; debt securities; asset | LM554022005 | 171.5 | 175.7 | 186.3 | 166.2 | 175.7 | 178.2 | 183.0 | 185.9 | 186.3 | 45 |
| Exchange-traded funds; debt securities; asset | LM564022005 | 808.9 | 1041.4 | 1212.0 | 981.8 | 1041.4 | 1057.7 | 1133.5 | 1173.0 | 1212.0 | 46 |
| Government-sponsored enterprises; debt securities; asset | LM404022005 | 467.7 | 520.1 | 413.2 | 557.0 | 520.1 | 471.9 | 450.5 | 440.1 | 413.2 | 47 |
| Issuers of asset-backed securities; debt securities; asset | FL674022005 | 33.0 | 30.3 | 31.9 | 29.5 | 30.3 | 28.6 | 27.4 | 28.7 | 31.9 | 48 |
| Finance companies; corporate and foreign bonds; asset | LM613063003 | 60.0 | 73.6 | 98.6 | 69.9 | 73.6 | 69.7 | 77.6 | 83.8 | 98.6 | 49 |
| Real estate investment trusts; debt securities; asset | LM644022005 | 386.7 | 236.8 | 192.7 | 234.8 | 236.8 | 223.8 | 216.6 | 197.7 | 192.7 | 50 |
| Security brokers and dealers; debt securities; asset | LM664022005 | 450.6 | 390.7 | 186.3 | 433.7 | 390.7 | 189.0 | 218.3 | 206.5 | 186.3 | 51 |
| Holding companies; long-term debt securities; asset | LM734022605 | 126.8 | 122.4 | 146.2 | 116.1 | 122.4 | 145.5 | 144.1 | 139.1 | 146.2 | 52 |
| Other financial business; debt securities; asset | FL504022005 | 255.6 | 415.3 | 353.4 | 378.5 | 415.3 | 441.5 | 416.6 | 372.7 | 353.4 | 53 |
| Rest of the world; debt securities, excluding negotiable certificates of deposit; asset | LM264022005 | 12246.3 | 12906.1 | 13576.1 | 12723.0 | 12906.1 | 12684.4 | 13451.0 | 13415.1 | 13576.1 | 54 |
| Instrument discrepancies; debt securities (level) (3) | LM904022005 | -1147.5 | -2672.2 | -1218.3 | -2315.6 | -2672.2 | -1194.7 | -1706.5 | -1449.0 | -1218.3 | 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 10, 2022