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 | 2021 | 2022 | 2023 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| All sectors; total debt securities; liability | FL894122005 | 53801.8 | 55866.7 | 59078.3 | 56863.6 | 57322.7 | 58107.4 | 59078.3 | 59928.3 | 60260.9 | 1 |
| All sectors; open market paper; liability | FL893169175 | 1051.8 | 1203.7 | 1215.8 | 1167.4 | 1176.9 | 1206.6 | 1215.8 | 1233.3 | 1215.3 | 2 |
| Federal government; Treasury securities; liability | FL313161105 | 22557.5 | 23845 | 26226.6 | 24282 | 24772.4 | 25630.2 | 26226.6 | 26808.6 | 26903.1 | 3 |
| All sectors; U.S. government agency securities; liability | FL893161705 | 10699.2 | 11678.6 | 11976 | 12041.3 | 11972.4 | 11938.8 | 11976 | 11973.7 | 12057.5 | 4 |
| Domestic nonfinancial sectors; municipal securities; liability | FL383162005 | 4089 | 4037.5 | 4059.3 | 4041.9 | 4058 | 4047.8 | 4059.3 | 4083.8 | 4129.4 | 5 |
| All sectors; corporate and foreign bonds; liability | FL893163005 | 15404.4 | 15102 | 15600.7 | 15330.9 | 15343.1 | 15284 | 15600.7 | 15828.9 | 15955.6 | 6 |
| All sectors; total debt securities; liability | FL894122005 | 53801.8 | 55866.7 | 59078.3 | 56863.6 | 57322.7 | 58107.4 | 59078.3 | 59928.3 | 60260.9 | 7 |
| Domestic nonfinancial sectors; debt securities; liability | FL384122005 | 33978 | 35291.4 | 37921.9 | 35896.1 | 36416.8 | 37287.4 | 37921.9 | 38654 | 38842.9 | 8 |
| Nonprofit organizations; municipal securities; liability (2) | FL163162003 | 203 | 202.1 | 204.3 | 202.3 | 204.5 | 204.6 | 204.3 | 206.7 | 210.3 | 9 |
| Nonfinancial corporate business; debt securities; liability | FL104122005 | 7930.3 | 8008.5 | 8233.8 | 8172 | 8190.8 | 8209.1 | 8233.8 | 8364.5 | 8419.9 | 10 |
| Federal government; debt securities; liability | FL314122005 | 22577.3 | 23864.8 | 26246.7 | 24301.8 | 24790.4 | 25649.7 | 26246.7 | 26828.6 | 26923.4 | 11 |
| State and local governments; municipal securities; liability | FL213162005 | 3267.3 | 3216 | 3237 | 3220 | 3231.1 | 3224 | 3237 | 3254.3 | 3289.4 | 12 |
| Domestic financial sectors; debt securities; liability | FL794122005 | 15605.5 | 16856 | 17352.1 | 17218.5 | 17185.5 | 17159.6 | 17352.1 | 17436.5 | 17533.9 | 13 |
| U.S.-chartered depository institutions; debt securities; liability | FL764122005 | 311.8 | 446.6 | 448.1 | 405.7 | 435.7 | 442.8 | 448.1 | 444.1 | 435.9 | 14 |
| Foreign banking offices in the U.S.; open market paper; liability | FL753169175 | 53.7 | 106.7 | 148 | 107.2 | 118 | 120.7 | 148 | 154.5 | 159.2 | 15 |
| Government-sponsored enterprises; GSE issues; liability | FL403161705 | 8177.6 | 8970.8 | 9085.1 | 9303.7 | 9189.4 | 9098.3 | 9085.1 | 9047.5 | 9086.5 | 16 |
| Agency-and GSE-backed mortgage pools; total mortgages; asset | FL413065005 | 2501.8 | 2687.9 | 2870.7 | 2717.9 | 2765 | 2820.9 | 2870.7 | 2906.2 | 2950.8 | 17 |
| Issuers of asset-backed securities; debt securities; liability | FL674122005 | 1388.2 | 1469.4 | 1507.3 | 1483.7 | 1487.3 | 1498.3 | 1507.3 | 1531.8 | 1541.6 | 18 |
| Finance companies; debt securities; liability | FL614122005 | 1085.3 | 1062.4 | 1155.6 | 1068.5 | 1103 | 1112.7 | 1155.6 | 1169.7 | 1202.3 | 19 |
| Mortgage real estate investment trusts; debt securities; liability | FL644122075 | 203.8 | 216.8 | 216.6 | 216.2 | 211.5 | 208.6 | 216.6 | 216.1 | 211.1 | 20 |
| Security brokers and dealers; corporate and foreign bonds; liability | FL663163003 | 217.7 | 236.1 | 236.2 | 229.3 | 211.2 | 221 | 236.2 | 258.2 | 268.4 | 21 |
| Holding companies; debt securities; liability | FL734122005 | 1544.9 | 1541.8 | 1556.3 | 1548 | 1541.2 | 1486.4 | 1556.3 | 1558.2 | 1535.1 | 22 |
| Other financial business; debt securities; liability | FL504122005 | 120.6 | 117.4 | 128.2 | 138.3 | 123.3 | 149.8 | 128.2 | 150.2 | 143 | 23 |
| Rest of the world; debt securities, excluding negotiable certificates of deposit; liability | LM264122005 | 4218.4 | 3719.3 | 3804.3 | 3749 | 3720.4 | 3660.4 | 3804.3 | 3837.7 | 3884.1 | 24 |
| All sectors; total debt securities; asset | FL894022005 | 55197.6 | 50947 | 55217.1 | 52805.4 | 52850.6 | 52297.8 | 55217.1 | 55784.2 | 55941.8 | 25 |
| Domestic nonfinancial sectors; debt securities; asset | FL384022005 | 5709.2 | 7402.7 | 8948.9 | 8244.5 | 8404.1 | 8471 | 8948.9 | 8913.1 | 9215.1 | 26 |
| Households and nonprofit organizations; debt securities; asset | LM154022005 | 2988.3 | 4653.9 | 6000.9 | 5380.2 | 5505.7 | 5580 | 6000.9 | 5923.1 | 6199.2 | 27 |
| Nonfinancial corporate business; debt securities; asset | LM104022005 | 409.6 | 382.2 | 383.1 | 386.4 | 398 | 437.9 | 383.1 | 395.8 | 379.8 | 28 |
| Nonfinancial noncorporate business; debt securities; asset | LM114022005 | 75.9 | 76.9 | 78.4 | 77 | 77.8 | 78.5 | 78.4 | 78.8 | 79.2 | 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 | 2234.9 | 2289.2 | 2486 | 2400.4 | 2422.1 | 2374.1 | 2486 | 2514.9 | 2556.4 | 31 |
| Domestic financial sectors; debt securities; asset | FL794022005 | 35836.9 | 31062.9 | 32492 | 31647.6 | 31366.9 | 30761.2 | 32492 | 32905.6 | 32690.4 | 32 |
| Monetary authority; debt securities; asset | LM714022005 | 8733.2 | 7349.1 | 6523.8 | 7243.2 | 6902.1 | 6393.6 | 6523.8 | 6204.8 | 5955.7 | 33 |
| U.S.-chartered depository institutions; debt securities; asset | LM764022005 | 6319.8 | 5620.7 | 5361.7 | 5575.5 | 5407 | 5169.4 | 5361.7 | 5424.7 | 5371.5 | 34 |
| Foreign banking offices in the U.S.; debt securities; asset | LM754022005 | 286.1 | 297.8 | 271.5 | 280.4 | 290 | 275.7 | 271.5 | 283.9 | 291.6 | 35 |
| Banks in U.S.-affiliated areas; debt securities; asset | LM744022003 | 47.5 | 50.9 | 73.2 | 50 | 49.6 | 68.9 | 73.2 | 74.1 | 76.8 | 36 |
| Credit unions; debt securities; asset | LM474022005 | 403.1 | 385.4 | 353.9 | 381.3 | 370.6 | 356.1 | 353.9 | 349.9 | 351.3 | 37 |
| Property-casualty insurance companies; debt securities; asset | LM514022005 | 1320.1 | 1241.7 | 1363.7 | 1287.1 | 1283.4 | 1291.9 | 1363.7 | 1408.2 | 1504 | 38 |
| Life insurance companies; debt securities; asset | LM544022005 | 4569.2 | 3904.9 | 4013.9 | 4021.8 | 3967.4 | 3811.9 | 4013.9 | 4057 | 4080 | 39 |
| Private pension funds; debt securities; asset | LM574022005 | 1821 | 1487.4 | 1574.1 | 1526.2 | 1523.9 | 1487.6 | 1574.1 | 1577.1 | 1582.3 | 40 |
| Federal government retirement funds; debt securities; asset | LM344022005 | 48.9 | 39.7 | 43.3 | 40.9 | 42.1 | 40.4 | 43.3 | 43.3 | 42.3 | 41 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 1194.3 | 1024.8 | 1115 | 1091.4 | 1063.3 | 1033.9 | 1115 | 1130.2 | 1133.3 | 42 |
| Money market funds; debt securities; asset | FL634022005 | 2568.8 | 2022 | 3414.8 | 2206.9 | 2392.5 | 2881.2 | 3414.8 | 3742 | 3611.5 | 43 |
| Mutual funds; debt securities; asset (market value) | LM654022005 | 5897.2 | 4794 | 5065.6 | 4931.2 | 4975.9 | 4861.4 | 5065.6 | 5189 | 5197.5 | 44 |
| Closed-end funds; debt securities; asset | LM554022005 | 186.6 | 152.5 | 154.2 | 153.1 | 151.4 | 145.3 | 154.2 | 155 | 154.4 | 45 |
| Exchange-traded funds; debt securities; asset | LM564022005 | 1215.3 | 1258.7 | 1493.5 | 1336.9 | 1371.7 | 1367.3 | 1493.5 | 1531.5 | 1590.2 | 46 |
| Government-sponsored enterprises; debt securities; asset | LM404022005 | 430.2 | 395.6 | 456.4 | 407.9 | 421.6 | 427.2 | 456.4 | 451.5 | 464.7 | 47 |
| Issuers of asset-backed securities; debt securities; asset | FL674022005 | 31.9 | 36.4 | 31.4 | 36.4 | 34.5 | 33.2 | 31.4 | 29.2 | 26.9 | 48 |
| Finance companies; corporate and foreign bonds; asset | LM613063003 | 68.3 | 52 | 28.3 | 40.9 | 38.3 | 35.3 | 28.3 | 29.1 | 28.6 | 49 |
| Mortgage real estate investment trusts; debt securities; asset | LM644022075 | 180.4 | 159 | 187.4 | 181.3 | 181.8 | 191.1 | 187.4 | 188.5 | 194.1 | 50 |
| Security brokers and dealers; debt securities; asset | LM664022005 | 196.6 | 311.4 | 447.7 | 420.5 | 405 | 435.4 | 447.7 | 541.5 | 530.7 | 51 |
| Holding companies; long-term debt securities; asset | LM734022605 | 146.4 | 181.7 | 182.4 | 168.6 | 166.3 | 174.2 | 182.4 | 170.8 | 173.6 | 52 |
| Other financial business; debt securities; asset | FL504022005 | 172.1 | 297.1 | 336.2 | 266 | 328.6 | 280.2 | 336.2 | 324.4 | 329.6 | 53 |
| Rest of the world; debt securities, excluding negotiable certificates of deposit; asset | LM264022005 | 13651.6 | 12481.5 | 13776.3 | 12913.4 | 13079.5 | 13065.5 | 13776.3 | 13965.5 | 14036.3 | 54 |
| Instrument discrepancies; debt securities (level) (3) | LM904022005 | -1395.8 | 4919.7 | 3861.2 | 4058.2 | 4472.2 | 5809.6 | 3861.2 | 4144.1 | 4319.1 | 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 12, 2024