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 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| All sectors; total debt securities; liability | FL894122005 | 53019.8 | 56515.9 | 58853.1 | 57498 | 57575.3 | 58028.1 | 58853.1 | 59539.7 | 60296.4 | 1 |
| All sectors; open market paper; liability | FL893169175 | 925.5 | 1051.8 | 1203.7 | 1139.6 | 1163.9 | 1165.9 | 1203.7 | 1159 | 1129.5 | 2 |
| Federal government; Treasury securities; liability | FL313161105 | 23600.9 | 25284.7 | 26831.6 | 26016.5 | 26050.7 | 26468.7 | 26831.6 | 26955.7 | 27748 | 3 |
| All sectors; U.S. government agency securities; liability | FL893161705 | 10086.7 | 10699.2 | 11678.6 | 10926.8 | 11195.5 | 11442.4 | 11678.6 | 12041.3 | 11972.4 | 4 |
| Domestic nonfinancial sectors; municipal securities; liability | FL383162005 | 3997.9 | 4076.9 | 4023.8 | 4059.6 | 4063.8 | 4047.3 | 4023.8 | 4027.6 | 4043.1 | 5 |
| All sectors; corporate and foreign bonds; liability | FL893163005 | 14408.9 | 15403.4 | 15115.5 | 15355.4 | 15101.6 | 14903.7 | 15115.5 | 15356.1 | 15403.3 | 6 |
| All sectors; total debt securities; liability | FL894122005 | 53019.8 | 56515.9 | 58853.1 | 57498 | 57575.3 | 58028.1 | 58853.1 | 59539.7 | 60296.4 | 7 |
| Domestic nonfinancial sectors; debt securities; liability | FL384122005 | 34292 | 36261.2 | 37808.9 | 37068.8 | 37058.3 | 37473.4 | 37808.9 | 38091.2 | 38906.9 | 8 |
| Nonprofit organizations; municipal securities; liability (2) | FL163162003 | 202.9 | 201.5 | 200.7 | 203.6 | 201.2 | 200.4 | 200.7 | 200.7 | 202.9 | 9 |
| Nonfinancial corporate business; debt securities; liability | FL104122005 | 7279.8 | 7497.8 | 7552.7 | 7595.5 | 7549.5 | 7557.8 | 7552.7 | 7707.2 | 7719.6 | 10 |
| Federal government; debt securities; liability | FL314122005 | 23621.1 | 25304.5 | 26851.4 | 26035.9 | 26070.4 | 26488.1 | 26851.4 | 26975.4 | 27766 | 11 |
| State and local governments; municipal securities; liability | FL213162005 | 3188.2 | 3257.4 | 3204.2 | 3233.8 | 3237.2 | 3227.1 | 3204.2 | 3207.9 | 3218.4 | 12 |
| Domestic financial sectors; debt securities; liability | FL794122005 | 14973.9 | 16036.3 | 17331 | 16420.5 | 16731.1 | 16899.2 | 17331 | 17685.6 | 17635.3 | 13 |
| U.S.-chartered depository institutions; debt securities; liability | FL764122005 | 436.9 | 311.8 | 465.6 | 348.4 | 390.8 | 396.7 | 465.6 | 407 | 416.3 | 14 |
| Foreign banking offices in the U.S.; open market paper; liability | FL753169175 | 65.3 | 53.7 | 112 | 77.3 | 96.2 | 97.6 | 112 | 107.6 | 111.9 | 15 |
| Government-sponsored enterprises; GSE issues; liability | FL403161705 | 7638.1 | 8177.6 | 8970.8 | 8372.6 | 8591.9 | 8785.7 | 8970.8 | 9303.7 | 9189.4 | 16 |
| Agency-and GSE-backed mortgage pools; total mortgages; asset | FL413065005 | 2428.3 | 2501.8 | 2687.9 | 2534.8 | 2583.9 | 2637.4 | 2687.9 | 2717.9 | 2765 | 17 |
| Issuers of asset-backed securities; debt securities; liability | FL674122005 | 1226.3 | 1388.3 | 1468.1 | 1426 | 1454.4 | 1471.3 | 1468.1 | 1483 | 1486.4 | 18 |
| Finance companies; debt securities; liability | FL614122005 | 815.2 | 1085.3 | 1062.4 | 1068.2 | 1058.6 | 1037 | 1062.4 | 1068.5 | 1106 | 19 |
| Real estate investment trusts; debt securities; liability | FL644122005 | 581.9 | 634.5 | 668.8 | 642.9 | 653.5 | 651.6 | 668.8 | 682.3 | 684 | 20 |
| Security brokers and dealers; corporate and foreign bonds; liability | FL663163003 | 183.9 | 217.7 | 236.1 | 260.8 | 249.2 | 223.6 | 236.1 | 229.3 | 211.2 | 21 |
| Holding companies; debt securities; liability | FL734122005 | 1479.9 | 1545 | 1541.8 | 1531.1 | 1516.6 | 1472.6 | 1541.8 | 1548 | 1541.2 | 22 |
| Other financial business; debt securities; liability | FL504122005 | 118.2 | 120.6 | 117.4 | 158.4 | 135.9 | 125.6 | 117.4 | 138.3 | 123.8 | 23 |
| Rest of the world; debt securities, excluding negotiable certificates of deposit; liability | LM264122005 | 3753.9 | 4218.4 | 3713.2 | 4008.7 | 3786 | 3655.5 | 3713.2 | 3762.9 | 3754.2 | 24 |
| All sectors; total debt securities; asset | FL894022005 | 55773.5 | 57839.7 | 53862.1 | 56046.6 | 54040.2 | 52599.5 | 53862.1 | 55468.9 | 55788.5 | 25 |
| Domestic nonfinancial sectors; debt securities; asset | FL384022005 | 6390.9 | 5879.2 | 7247.4 | 5777.9 | 6091.2 | 6526.7 | 7247.4 | 8123.4 | 8307.9 | 26 |
| Households and nonprofit organizations; debt securities; asset | LM154022005 | 4050.1 | 3261 | 4588 | 3250.3 | 3410.4 | 3923.4 | 4588 | 5355.6 | 5527.8 | 27 |
| Nonfinancial corporate business; debt securities; asset | LM104022005 | 364.3 | 389.7 | 350.7 | 354.6 | 380.9 | 339.9 | 350.7 | 354.7 | 369.3 | 28 |
| Nonfinancial noncorporate business; debt securities; asset | LM114022005 | 77.8 | 76.3 | 76.9 | 72.3 | 74.3 | 75.8 | 76.9 | 77 | 77.8 | 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 | 2231.3 | 2100.2 | 2225.1 | 2187.2 | 2231.3 | 2335.6 | 2332.5 | 31 |
| Domestic financial sectors; debt securities; asset | FL794022005 | 36128.3 | 38308.9 | 34011.7 | 37037.7 | 35284.9 | 33779.3 | 34011.7 | 34378.5 | 34399.4 | 32 |
| Monetary authority; debt securities; asset | LM714022005 | 7422.2 | 8733.2 | 7349.1 | 8470.4 | 8043.4 | 7507.3 | 7349.1 | 7243.2 | 6902.1 | 33 |
| U.S.-chartered depository institutions; debt securities; asset | LM764022005 | 5202.1 | 6319.8 | 5620.6 | 6243.1 | 6017.2 | 5660 | 5620.6 | 5575.4 | 5418.4 | 34 |
| Foreign banking offices in the U.S.; debt securities; asset | LM754022005 | 313.5 | 286.1 | 298.5 | 280.8 | 295.5 | 304.4 | 298.5 | 280.4 | 290.5 | 35 |
| Banks in U.S.-affiliated areas; debt securities; asset | LM744022003 | 41.3 | 47.5 | 50.9 | 47.8 | 51.3 | 54.5 | 50.9 | 50 | 49.6 | 36 |
| Credit unions; debt securities; asset | LM474022005 | 311.1 | 403.1 | 385.4 | 414.7 | 413.9 | 395.5 | 385.4 | 381.3 | 369.3 | 37 |
| Property-casualty insurance companies; debt securities; asset | LM514022005 | 1270.2 | 1320.1 | 1241.7 | 1245.2 | 1205.9 | 1183.2 | 1241.7 | 1290 | 1288.9 | 38 |
| Life insurance companies; debt securities; asset | LM544022005 | 4431.1 | 4452.1 | 3796.4 | 4138.7 | 3870.6 | 3689 | 3796.4 | 3954.4 | 3944.8 | 39 |
| Private pension funds; debt securities; asset | LM574022005 | 1715.3 | 1821 | 1693.7 | 1714.5 | 1650.5 | 1614.8 | 1693.7 | 1781.8 | 1834.1 | 40 |
| Federal government retirement funds; debt securities; asset | LM344022005 | 2326.6 | 2483.6 | 2720 | 2512.1 | 2535.2 | 2580.1 | 2720 | 2405.3 | 2717.4 | 41 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 1101.5 | 1180.5 | 1032.1 | 1147.6 | 1094.6 | 1031.1 | 1032.1 | 1106 | 1125.6 | 42 |
| Money market funds; debt securities; asset | FL634022005 | 3525.2 | 2568.8 | 2022 | 2514.9 | 2224.6 | 2113.2 | 2022 | 2206.9 | 2392.5 | 43 |
| Mutual funds; debt securities; asset (market value) | LM654022005 | 5539.5 | 5897.6 | 4793.9 | 5561.1 | 5087.6 | 4810.7 | 4793.9 | 4931.2 | 4899.9 | 44 |
| Closed-end funds; debt securities; asset | LM554022005 | 175.7 | 186.6 | 153 | 173.4 | 159 | 150.1 | 153 | 153.3 | 151.5 | 45 |
| Exchange-traded funds; debt securities; asset | LM564022005 | 1041.8 | 1215.3 | 1258.7 | 1180.5 | 1173.3 | 1177.2 | 1258.7 | 1336.9 | 1367.6 | 46 |
| Government-sponsored enterprises; debt securities; asset | LM404022005 | 520.1 | 430.2 | 395.6 | 432.8 | 404.5 | 398.9 | 395.6 | 407.9 | 421.6 | 47 |
| Issuers of asset-backed securities; debt securities; asset | FL674022005 | 30.3 | 31.9 | 36.4 | 34.5 | 35.7 | 36.3 | 36.4 | 36.4 | 34.5 | 48 |
| Finance companies; corporate and foreign bonds; asset | LM613063003 | 73.6 | 68.3 | 52 | 59 | 50.9 | 47.9 | 52 | 40.9 | 41.1 | 49 |
| Real estate investment trusts; debt securities; asset | LM644022005 | 236.8 | 200.2 | 177.4 | 192.6 | 176.1 | 184.1 | 177.4 | 199.1 | 199.2 | 50 |
| Security brokers and dealers; debt securities; asset | LM664022005 | 389.1 | 196.6 | 311.4 | 139 | 175.5 | 246.4 | 311.4 | 420.5 | 405 | 51 |
| Holding companies; long-term debt securities; asset | LM734022605 | 122.4 | 146.4 | 181.4 | 148.9 | 166.4 | 176.4 | 181.4 | 168.2 | 165.9 | 52 |
| Other financial business; debt securities; asset | FL504022005 | 338.9 | 320.2 | 441.6 | 386.1 | 453.2 | 418.3 | 441.6 | 409.5 | 380.1 | 53 |
| Rest of the world; debt securities, excluding negotiable certificates of deposit; asset | LM264022005 | 13254.2 | 13651.6 | 12603.1 | 13230.9 | 12664.1 | 12293.5 | 12603.1 | 12966.9 | 13081.2 | 54 |
| Instrument discrepancies; debt securities (level) (3) | LM904022005 | -2753.6 | -1323.8 | 4991 | 1451.3 | 3535.1 | 5428.6 | 4991 | 4070.8 | 4507.9 | 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 11, 2023