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 | 2022 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| All sectors; total debt securities; liability | FL894122005 | 46552.0 | 53010.4 | 56251.9 | 58681.5 | 57251.9 | 57337.0 | 57851.5 | 58681.5 | 59386.3 | 1 |
| All sectors; open market paper; liability | FL893169175 | 1038.5 | 925.5 | 1089.4 | 1241.3 | 1177.2 | 1201.5 | 1203.5 | 1241.3 | 1417.8 | 2 |
| Federal government; Treasury securities; liability | FL313161105 | 19018.7 | 23600.9 | 25284.7 | 26831.6 | 26016.5 | 26050.7 | 26468.7 | 26831.6 | 26955.7 | 3 |
| All sectors; U.S. government agency securities; liability | FL893161705 | 9429.5 | 10086.7 | 10699.2 | 11678.6 | 10926.8 | 11195.5 | 11442.4 | 11678.6 | 12041.3 | 4 |
| Domestic nonfinancial sectors; municipal securities; liability | FL383162005 | 3906.3 | 3992.0 | 4069.4 | 4015.6 | 4052.0 | 4055.8 | 4039.1 | 4015.6 | 4019.5 | 5 |
| All sectors; corporate and foreign bonds; liability | FL893163005 | 13159.0 | 14405.4 | 15109.3 | 14914.5 | 15079.4 | 14833.6 | 14697.7 | 14914.5 | 14952.0 | 6 |
| All sectors; total debt securities; liability | FL894122005 | 46552.0 | 53010.4 | 56251.9 | 58681.5 | 57251.9 | 57337.0 | 57851.5 | 58681.5 | 59386.3 | 7 |
| Domestic nonfinancial sectors; debt securities; liability | FL384122005 | 28967.0 | 34282.6 | 36246.5 | 37791.9 | 37052.4 | 37041.5 | 37454.9 | 37791.9 | 38073.7 | 8 |
| Nonprofit organizations; municipal securities; liability (2) | FL163162003 | 212.5 | 202.6 | 201.1 | 200.3 | 203.1 | 200.7 | 200.0 | 200.3 | 200.3 | 9 |
| Nonfinancial corporate business; debt securities; liability | FL104122005 | 6621.4 | 7275.4 | 7489.4 | 7542.7 | 7585.4 | 7539.4 | 7546.2 | 7542.7 | 7696.6 | 10 |
| Federal government; debt securities; liability | FL314122005 | 19039.9 | 23621.1 | 25304.5 | 26851.4 | 26035.9 | 26070.4 | 26488.1 | 26851.4 | 26975.4 | 11 |
| State and local governments; municipal securities; liability | FL213162005 | 3093.2 | 3183.5 | 3251.6 | 3197.6 | 3228.0 | 3230.9 | 3220.5 | 3197.6 | 3201.4 | 12 |
| Domestic financial sectors; debt securities; liability | FL794122005 | 14026.7 | 14973.9 | 15773.0 | 17147.1 | 16169.8 | 16498.9 | 16717.8 | 17147.1 | 17533.8 | 13 |
| U.S.-chartered depository institutions; debt securities; liability | FL764122005 | 327.9 | 436.9 | 342.0 | 495.4 | 375.6 | 417.9 | 424.0 | 495.4 | 479.5 | 14 |
| Foreign banking offices in the U.S.; open market paper; liability | FL753169175 | 71.1 | 65.3 | 60.4 | 120.4 | 84.8 | 104.1 | 105.6 | 120.4 | 130.1 | 15 |
| Government-sponsored enterprises; GSE issues; liability | FL403161705 | 7002.2 | 7638.1 | 8177.6 | 8970.8 | 8372.6 | 8591.9 | 8785.7 | 8970.8 | 9303.7 | 16 |
| Agency-and GSE-backed mortgage pools; total mortgages; asset | FL413065005 | 2406.0 | 2428.3 | 2501.8 | 2687.9 | 2534.8 | 2583.9 | 2637.4 | 2687.9 | 2717.9 | 17 |
| Issuers of asset-backed securities; debt securities; liability | FL674122005 | 1175.0 | 1226.3 | 1388.3 | 1468.1 | 1426.0 | 1454.4 | 1471.3 | 1468.1 | 1483.0 | 18 |
| Finance companies; debt securities; liability | FL614122005 | 835.4 | 815.2 | 769.1 | 822.7 | 768.2 | 776.9 | 805.0 | 822.7 | 805.5 | 19 |
| Real estate investment trusts; debt securities; liability | FL644122005 | 539.3 | 581.9 | 634.5 | 668.3 | 642.9 | 653.0 | 651.0 | 668.3 | 681.6 | 20 |
| Security brokers and dealers; corporate and foreign bonds; liability | FL663163003 | 173.9 | 183.9 | 217.7 | 236.1 | 260.8 | 249.2 | 223.6 | 236.1 | 229.3 | 21 |
| Holding companies; debt securities; liability | FL734122005 | 1350.0 | 1479.9 | 1545.0 | 1541.8 | 1531.1 | 1516.6 | 1472.6 | 1541.8 | 1548.0 | 22 |
| Other financial business; debt securities; liability | FL504122005 | 145.7 | 118.2 | 136.7 | 135.5 | 173.0 | 150.9 | 141.6 | 135.5 | 155.1 | 23 |
| Rest of the world; debt securities, excluding negotiable certificates of deposit; liability | LM264122005 | 3558.3 | 3753.9 | 4232.4 | 3742.5 | 4029.7 | 3796.5 | 3678.8 | 3742.5 | 3778.8 | 24 |
| All sectors; total debt securities; asset | FL894022005 | 47820.2 | 55766.2 | 57648.5 | 53851.0 | 55972.8 | 53983.1 | 52582.5 | 53851.0 | 55742.9 | 25 |
| Domestic nonfinancial sectors; debt securities; asset | FL384022005 | 6568.1 | 6384.0 | 5783.8 | 7326.8 | 5820.9 | 6138.4 | 6580.6 | 7326.8 | 8327.7 | 26 |
| Households and nonprofit organizations; debt securities; asset | LM154022005 | 4526.5 | 4043.3 | 3165.5 | 4666.0 | 3293.3 | 3457.3 | 3975.4 | 4666.0 | 5558.6 | 27 |
| Nonfinancial corporate business; debt securities; asset | LM104022005 | 326.6 | 364.3 | 389.7 | 352.0 | 354.6 | 381.2 | 341.8 | 352.0 | 356.0 | 28 |
| Nonfinancial noncorporate business; debt securities; asset | LM114022005 | 75.9 | 77.8 | 76.3 | 76.9 | 72.3 | 74.3 | 75.8 | 76.9 | 77.0 | 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 | 2151.8 | 2231.3 | 2100.2 | 2225.1 | 2187.2 | 2231.3 | 2335.6 | 31 |
| Domestic financial sectors; debt securities; asset | FL794022005 | 28883.6 | 36127.9 | 38258.1 | 33870.7 | 36966.3 | 35138.1 | 33650.3 | 33870.7 | 34317.2 | 32 |
| Monetary authority; debt securities; asset | LM714022005 | 4011.9 | 7422.2 | 8733.2 | 7349.1 | 8470.4 | 8043.4 | 7507.3 | 7349.1 | 7242.4 | 33 |
| U.S.-chartered depository institutions; debt securities; asset | LM764022005 | 4119.5 | 5202.1 | 6319.8 | 5620.7 | 6243.1 | 6017.3 | 5660.0 | 5620.7 | 5461.7 | 34 |
| Foreign banking offices in the U.S.; debt securities; asset | LM754022005 | 309.0 | 313.5 | 286.1 | 300.6 | 280.8 | 295.5 | 304.4 | 300.6 | 280.4 | 35 |
| Banks in U.S.-affiliated areas; debt securities; asset | LM744022003 | 33.6 | 41.3 | 47.5 | 50.9 | 47.8 | 51.3 | 54.5 | 50.9 | 50.0 | 36 |
| Credit unions; debt securities; asset | LM474022005 | 221.3 | 311.1 | 403.1 | 386.9 | 414.7 | 413.9 | 395.5 | 386.9 | 382.4 | 37 |
| Property-casualty insurance companies; debt securities; asset | LM514022005 | 1192.8 | 1270.2 | 1320.1 | 1241.7 | 1245.2 | 1205.9 | 1183.2 | 1241.7 | 1290.0 | 38 |
| Life insurance companies; debt securities; asset | LM544022005 | 4022.7 | 4431.1 | 4452.1 | 3796.4 | 4138.7 | 3870.6 | 3689.0 | 3796.4 | 3954.4 | 39 |
| Private pension funds; debt securities; asset | LM574022005 | 1565.8 | 1719.6 | 1682.3 | 1509.1 | 1578.0 | 1502.5 | 1453.7 | 1509.1 | 1579.0 | 40 |
| Federal government retirement funds; debt securities; asset | LM344022005 | 2177.4 | 2326.6 | 2483.6 | 2719.3 | 2512.1 | 2535.2 | 2580.1 | 2719.3 | 2404.6 | 41 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 954.9 | 1096.7 | 1201.5 | 1001.8 | 1144.0 | 1057.5 | 992.0 | 1001.8 | 1060.7 | 42 |
| Money market funds; debt securities; asset | FL634022005 | 2436.5 | 3525.2 | 2568.8 | 2022.0 | 2514.9 | 2224.6 | 2113.2 | 2022.0 | 2206.9 | 43 |
| Mutual funds; debt securities; asset (market value) | LM654022005 | 5090.9 | 5539.5 | 5897.6 | 4790.1 | 5561.1 | 5087.8 | 4810.8 | 4790.1 | 4958.1 | 44 |
| Closed-end funds; debt securities; asset | LM554022005 | 171.5 | 175.7 | 186.6 | 153.0 | 173.4 | 159.0 | 150.1 | 153.0 | 154.9 | 45 |
| Exchange-traded funds; debt securities; asset | LM564022005 | 809.1 | 1041.8 | 1215.3 | 1258.6 | 1180.5 | 1173.3 | 1177.2 | 1258.6 | 1340.5 | 46 |
| Government-sponsored enterprises; debt securities; asset | LM404022005 | 467.7 | 520.1 | 430.2 | 395.6 | 432.8 | 404.5 | 398.9 | 395.6 | 407.9 | 47 |
| Issuers of asset-backed securities; debt securities; asset | FL674022005 | 33.0 | 30.3 | 31.9 | 36.4 | 34.5 | 35.7 | 36.3 | 36.4 | 36.4 | 48 |
| Finance companies; corporate and foreign bonds; asset | LM613063003 | 60.0 | 73.6 | 98.7 | 87.6 | 90.6 | 83.9 | 83.8 | 87.6 | 89.6 | 49 |
| Real estate investment trusts; debt securities; asset | LM644022005 | 386.7 | 236.8 | 200.2 | 177.1 | 192.6 | 176.0 | 183.6 | 177.1 | 198.3 | 50 |
| Security brokers and dealers; debt securities; asset | LM664022005 | 449.3 | 389.1 | 196.6 | 311.4 | 139.0 | 175.5 | 246.4 | 311.4 | 409.4 | 51 |
| Holding companies; long-term debt securities; asset | LM734022605 | 126.8 | 122.4 | 146.4 | 181.4 | 148.9 | 166.4 | 176.4 | 181.4 | 168.2 | 52 |
| Other financial business; debt securities; asset | FL504022005 | 243.4 | 338.9 | 356.7 | 481.2 | 423.2 | 458.4 | 454.0 | 481.2 | 641.5 | 53 |
| Rest of the world; debt securities, excluding negotiable certificates of deposit; asset | LM264022005 | 12368.5 | 13254.2 | 13606.6 | 12653.5 | 13185.6 | 12706.6 | 12351.5 | 12653.5 | 13097.9 | 54 |
| Instrument discrepancies; debt securities (level) (3) | LM904022005 | -1268.2 | -2755.7 | -1396.6 | 4830.5 | 1279.1 | 3353.8 | 5269.0 | 4830.5 | 3643.4 | 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: June 8, 2023