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 | 2020 | 2021 | 2022 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| All sectors; total debt securities; liability | FL894122005 | 53010.8 | 56247.4 | 58692.4 | 54919.2 | 56247.4 | 57243.3 | 57336.5 | 57849.2 | 58692.4 | 1 |
| All sectors; open market paper; liability | FL893169175 | 925.5 | 1089.4 | 1261.5 | 1076.0 | 1089.4 | 1177.2 | 1201.5 | 1203.5 | 1261.5 | 2 |
| Federal government; Treasury securities; liability | FL313161105 | 23600.9 | 25284.7 | 26831.6 | 24249.9 | 25284.7 | 26016.5 | 26050.7 | 26468.7 | 26831.6 | 3 |
| All sectors; U.S. government agency securities; liability | FL893161705 | 10086.7 | 10699.1 | 11717.5 | 10535.9 | 10699.1 | 10926.8 | 11195.4 | 11442.4 | 11717.5 | 4 |
| Domestic nonfinancial sectors; municipal securities; liability | FL383162005 | 3991.1 | 4068.3 | 4010.8 | 4059.0 | 4068.3 | 4047.1 | 4050.7 | 4033.8 | 4010.8 | 5 |
| All sectors; corporate and foreign bonds; liability | FL893163005 | 14406.7 | 15105.8 | 14871.1 | 14998.3 | 15105.8 | 15075.7 | 14838.2 | 14700.7 | 14871.1 | 6 |
| All sectors; total debt securities; liability | FL894122005 | 53010.8 | 56247.4 | 58692.4 | 54919.2 | 56247.4 | 57243.3 | 57336.5 | 57849.2 | 58692.4 | 7 |
| Domestic nonfinancial sectors; debt securities; liability | FL384122005 | 34283.0 | 36247.3 | 37790.2 | 35226.1 | 36247.3 | 37048.9 | 37038.1 | 37452.4 | 37790.2 | 8 |
| Nonprofit organizations; municipal securities; liability (2) | FL163162003 | 202.2 | 200.5 | 199.8 | 201.5 | 200.5 | 202.6 | 200.2 | 199.5 | 199.8 | 9 |
| Nonfinancial corporate business; debt securities; liability | FL104122005 | 7276.4 | 7490.9 | 7545.4 | 7511.8 | 7490.9 | 7586.3 | 7540.7 | 7548.5 | 7545.4 | 10 |
| Federal government; debt securities; liability | FL314122005 | 23621.1 | 25304.5 | 26851.4 | 24269.4 | 25304.5 | 26035.9 | 26070.4 | 26488.1 | 26851.4 | 11 |
| State and local governments; municipal securities; liability | FL213162005 | 3183.3 | 3251.4 | 3193.5 | 3243.3 | 3251.4 | 3224.1 | 3226.9 | 3216.4 | 3193.5 | 12 |
| Domestic financial sectors; debt securities; liability | FL794122005 | 14973.9 | 15767.7 | 17133.3 | 15482.9 | 15767.7 | 16164.7 | 16501.8 | 16719.6 | 17133.3 | 13 |
| U.S.-chartered depository institutions; debt securities; liability | FL764122005 | 436.9 | 342.0 | 466.4 | 336.3 | 342.0 | 375.6 | 417.9 | 424.0 | 466.4 | 14 |
| Foreign banking offices in the U.S.; open market paper; liability | FL753169175 | 65.3 | 60.4 | 112.2 | 52.4 | 60.4 | 84.8 | 104.1 | 105.6 | 112.2 | 15 |
| Government-sponsored enterprises; GSE issues; liability | FL403161705 | 7638.1 | 8177.6 | 9009.8 | 8041.7 | 8177.6 | 8372.6 | 8591.9 | 8785.7 | 9009.8 | 16 |
| Agency-and GSE-backed mortgage pools; total mortgages; asset | FL413065005 | 2428.3 | 2501.8 | 2687.9 | 2474.7 | 2501.8 | 2534.7 | 2583.8 | 2637.4 | 2687.9 | 17 |
| Issuers of asset-backed securities; debt securities; liability | FL674122005 | 1226.3 | 1383.0 | 1463.7 | 1310.3 | 1383.0 | 1420.9 | 1449.6 | 1466.3 | 1463.7 | 18 |
| Finance companies; debt securities; liability | FL614122005 | 815.2 | 769.1 | 813.1 | 761.7 | 769.1 | 768.2 | 785.0 | 812.1 | 813.1 | 19 |
| Real estate investment trusts; debt securities; liability | FL644122005 | 581.9 | 634.5 | 666.8 | 616.0 | 634.5 | 643.0 | 653.1 | 651.0 | 666.8 | 20 |
| Security brokers and dealers; corporate and foreign bonds; liability | FL663163003 | 183.9 | 217.7 | 236.1 | 214.6 | 217.7 | 260.8 | 249.2 | 223.6 | 236.1 | 21 |
| Holding companies; debt securities; liability | FL734122005 | 1479.9 | 1544.9 | 1541.8 | 1517.7 | 1544.9 | 1531.1 | 1516.6 | 1472.6 | 1541.8 | 22 |
| Other financial business; debt securities; liability | FL504122005 | 118.2 | 136.7 | 135.5 | 157.5 | 136.7 | 173.0 | 150.6 | 141.3 | 135.5 | 23 |
| Rest of the world; debt securities, excluding negotiable certificates of deposit; liability | LM264122005 | 3753.9 | 4232.4 | 3768.9 | 4210.2 | 4232.4 | 4029.7 | 3796.5 | 3677.2 | 3768.9 | 24 |
| All sectors; total debt securities; asset | FL894022005 | 55768.1 | 57623.4 | 53918.1 | 56482.7 | 57623.4 | 55962.5 | 53967.1 | 52543.2 | 53918.1 | 25 |
| Domestic nonfinancial sectors; debt securities; asset | FL384022005 | 6405.6 | 5755.5 | 7210.6 | 5917.1 | 5755.5 | 5796.0 | 6109.8 | 6553.3 | 7210.6 | 26 |
| Households and nonprofit organizations; debt securities; asset | LM154022005 | 4060.3 | 3138.6 | 4523.8 | 3351.0 | 3138.6 | 3257.8 | 3421.3 | 3940.5 | 4523.8 | 27 |
| Nonfinancial corporate business; debt securities; asset | LM104022005 | 364.3 | 384.0 | 387.6 | 370.3 | 384.0 | 360.7 | 384.1 | 344.8 | 387.6 | 28 |
| Nonfinancial noncorporate business; debt securities; asset | LM114022005 | 82.3 | 80.8 | 81.4 | 79.3 | 80.8 | 76.8 | 78.8 | 80.3 | 81.4 | 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 | 1898.1 | 2151.8 | 2217.3 | 2116.0 | 2151.8 | 2100.2 | 2225.1 | 2187.2 | 2217.3 | 31 |
| Domestic financial sectors; debt securities; asset | FL794022005 | 36108.3 | 38261.2 | 33986.6 | 37089.6 | 38261.2 | 36980.9 | 35150.7 | 33653.8 | 33986.6 | 32 |
| Monetary authority; debt securities; asset | LM714022005 | 7422.2 | 8733.2 | 7329.4 | 8412.3 | 8733.2 | 8470.4 | 8043.4 | 7507.3 | 7329.4 | 33 |
| U.S.-chartered depository institutions; debt securities; asset | LM764022005 | 5202.1 | 6319.5 | 5620.5 | 6056.0 | 6319.5 | 6242.9 | 6017.0 | 5659.8 | 5620.5 | 34 |
| Foreign banking offices in the U.S.; debt securities; asset | LM754022005 | 313.5 | 286.1 | 300.6 | 289.5 | 286.1 | 280.8 | 295.5 | 304.4 | 300.6 | 35 |
| Banks in U.S.-affiliated areas; debt securities; asset | LM744022003 | 41.3 | 47.5 | 50.9 | 47.3 | 47.5 | 47.8 | 51.3 | 54.5 | 50.9 | 36 |
| Credit unions; debt securities; asset | LM474022005 | 311.1 | 403.1 | 388.6 | 387.2 | 403.1 | 414.7 | 413.9 | 395.5 | 388.6 | 37 |
| Property-casualty insurance companies; debt securities; asset | LM514022005 | 1270.2 | 1320.1 | 1198.0 | 1311.6 | 1320.1 | 1231.8 | 1179.5 | 1144.1 | 1198.0 | 38 |
| Life insurance companies; debt securities; asset | LM544022005 | 4431.1 | 4452.1 | 3925.6 | 4412.2 | 4452.1 | 4170.6 | 3912.5 | 3755.8 | 3925.6 | 39 |
| Private pension funds; debt securities; asset | LM574022005 | 1719.6 | 1682.3 | 1480.3 | 1681.0 | 1682.3 | 1578.0 | 1500.3 | 1439.4 | 1480.3 | 40 |
| Federal government retirement funds; debt securities; asset | LM344022005 | 2326.6 | 2483.6 | 2719.1 | 2140.4 | 2483.6 | 2512.1 | 2535.2 | 2580.0 | 2719.1 | 41 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 1077.3 | 1202.4 | 1031.0 | 1182.3 | 1202.4 | 1144.7 | 1061.7 | 992.5 | 1031.0 | 42 |
| Money market funds; debt securities; asset | FL634022005 | 3525.2 | 2568.8 | 2022.0 | 2534.5 | 2568.8 | 2514.9 | 2224.6 | 2113.2 | 2022.0 | 43 |
| Mutual funds; debt securities; asset (market value) | LM654022005 | 5539.4 | 5897.6 | 4845.1 | 5860.9 | 5897.6 | 5561.1 | 5088.1 | 4807.3 | 4845.1 | 44 |
| Closed-end funds; debt securities; asset | LM554022005 | 175.7 | 186.6 | 153.0 | 185.7 | 186.6 | 173.4 | 159.0 | 150.1 | 153.0 | 45 |
| Exchange-traded funds; debt securities; asset | LM564022005 | 1041.5 | 1214.4 | 1252.1 | 1173.0 | 1214.4 | 1179.3 | 1172.0 | 1175.8 | 1252.1 | 46 |
| Government-sponsored enterprises; debt securities; asset | LM404022005 | 520.1 | 430.2 | 392.6 | 440.1 | 430.2 | 432.8 | 404.3 | 398.8 | 392.6 | 47 |
| Issuers of asset-backed securities; debt securities; asset | FL674022005 | 30.3 | 31.9 | 36.4 | 28.7 | 31.9 | 34.5 | 35.7 | 36.3 | 36.4 | 48 |
| Finance companies; corporate and foreign bonds; asset | LM613063003 | 73.6 | 98.7 | 79.7 | 83.8 | 98.7 | 90.6 | 83.9 | 83.8 | 79.7 | 49 |
| Real estate investment trusts; debt securities; asset | LM644022005 | 236.8 | 200.2 | 176.7 | 197.3 | 200.2 | 192.6 | 176.0 | 183.6 | 176.7 | 50 |
| Security brokers and dealers; debt securities; asset | LM664022005 | 389.1 | 196.6 | 311.4 | 204.4 | 196.6 | 139.0 | 175.5 | 246.4 | 311.4 | 51 |
| Holding companies; long-term debt securities; asset | LM734022605 | 122.4 | 146.4 | 183.0 | 139.1 | 146.4 | 148.9 | 166.4 | 176.4 | 183.0 | 52 |
| Other financial business; debt securities; asset | FL504022005 | 339.1 | 359.9 | 490.6 | 322.3 | 359.9 | 420.0 | 454.8 | 448.9 | 490.6 | 53 |
| Rest of the world; debt securities, excluding negotiable certificates of deposit; asset | LM264022005 | 13254.2 | 13606.6 | 12720.9 | 13476.0 | 13606.6 | 13185.6 | 12706.6 | 12336.1 | 12720.9 | 54 |
| Instrument discrepancies; debt securities (level) (3) | LM904022005 | -2757.3 | -1376.0 | 4774.3 | -1563.6 | -1376.0 | 1280.8 | 3369.4 | 5306.0 | 4774.3 | 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 9, 2023