Financial Accounts of the United States - Z.1
F.208 Debt Securities (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates| Description | Series code | 2022 | 2023 | 2024 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| All sectors; total debt securities; liability | FA894122005 | 2737.5 | 3197.8 | 3025.4 | 3117.6 | 3071.3 | 3035.1 | 2780.5 | 4012.4 | 2273.4 | 1 |
| All sectors; open market paper; liability | FA893169175 | 151.9 | 15.8 | -8.2 | 275.6 | 49.5 | 41.3 | -52.3 | 83.3 | -105.1 | 2 |
| Federal government; Treasury securities; liability | FA313161105 | 1287.4 | 2381.6 | 1912.9 | 2917.6 | 2286.6 | 1689.4 | 1639.7 | 2164.8 | 2157.7 | 3 |
| All sectors; U.S. government agency securities; liability | FA893161705 | 979.4 | 297.4 | 273.2 | -64.0 | 85.3 | 100.8 | 206.7 | 401.3 | 384.1 | 4 |
| Domestic nonfinancial sectors; municipal securities; liability | FA383162005 | -51.2 | 22.7 | 118.2 | -7.9 | -59.6 | 136.3 | 238.7 | 166.9 | -69.3 | 5 |
| All sectors; corporate and foreign bonds; liability | FA893163005 | 370.0 | 480.2 | 729.3 | -3.6 | 709.5 | 1067.4 | 747.7 | 1196.1 | -94.0 | 6 |
| All sectors; total debt securities; liability | FA894122005 | 2737.5 | 3197.8 | 3025.4 | 3117.6 | 3071.3 | 3035.1 | 2780.5 | 4012.4 | 2273.4 | 7 |
| Domestic nonfinancial sectors; debt securities; liability | FA384122005 | 1314.0 | 2631.6 | 2284.9 | 3023.3 | 2346.2 | 2346.7 | 2144.2 | 2641.5 | 2007.2 | 8 |
| Nonprofit organizations; municipal securities; liability (2) | FA163162003 | -0.9 | 2.1 | 8.1 | 0.1 | -1.1 | 9.7 | 14.3 | 7.1 | 1.5 | 9 |
| Nonfinancial corporate business; debt securities; liability | FA104122005 | 78.6 | 225.6 | 266.6 | 106.4 | 94.4 | 548.7 | 293.3 | 331.1 | -106.8 | 10 |
| Federal government; debt securities; liability | FA314122005 | 1287.5 | 2382.0 | 1913.2 | 2923.9 | 2289.1 | 1688.4 | 1640.8 | 2165.0 | 2158.5 | 11 |
| State and local governments; municipal securities; liability | FA213162005 | -51.1 | 21.9 | 97.0 | -7.2 | -36.2 | 99.9 | 195.8 | 138.4 | -46.0 | 12 |
| Domestic financial sectors; debt securities; liability | FA794122005 | 1251.3 | 501.9 | 533.5 | 44.0 | 690.9 | 371.9 | 263.5 | 1260.8 | 237.8 | 13 |
| U.S.-chartered depository institutions; debt securities; liability | FA764122005 | 134.8 | 1.5 | -19.0 | 28.1 | 21.2 | -26.5 | -21.4 | 57.1 | -85.1 | 14 |
| Foreign banking offices in the U.S.; open market paper; liability | FA753169175 | 53.0 | 41.3 | 31.9 | 11.0 | 109.2 | 21.8 | 23.1 | 37.4 | 45.2 | 15 |
| Government-sponsored enterprises; GSE issues; liability | FA403161705 | 793.3 | 114.3 | 99.0 | -292.9 | -92.7 | -59.5 | 22.6 | 223.8 | 209.2 | 16 |
| Agency-and GSE-backed mortgage pools; total mortgages; asset | FA413065005 | 186.1 | 182.7 | 173.9 | 222.5 | 175.5 | 161.2 | 183.0 | 177.4 | 174.1 | 17 |
| Issuers of asset-backed securities; debt securities; liability | FA674122005 | 82.3 | 39.1 | 107.0 | 48.6 | 13.5 | 124.2 | 38.8 | 117.9 | 147.2 | 18 |
| Finance companies; debt securities; liability | FA614122005 | -22.9 | 93.2 | 65.2 | 54.8 | 156.7 | 54.7 | 112.7 | 94.9 | -1.5 | 19 |
| Mortgage real estate investment trusts; debt securities; liability | FA644122075 | 12.7 | -0.6 | -0.9 | -12.0 | 35.6 | -5.0 | -19.5 | 9.3 | 11.4 | 20 |
| Security brokers and dealers; corporate and foreign bonds; liability | FA663163003 | 18.4 | 0.1 | 91.1 | 39.4 | 60.9 | 59.1 | 32.5 | 272.4 | 0.5 | 21 |
| Holding companies; debt securities; liability | FA734122005 | -3.2 | 19.6 | -13.7 | -207.7 | 288.2 | 8.9 | -75.4 | 195.9 | -184.3 | 22 |
| Other financial business; debt securities; liability | FA504122005 | -3.2 | 10.8 | -0.9 | 152.2 | -77.2 | 32.9 | -32.7 | 74.9 | -78.8 | 23 |
| Rest of the world; debt securities, excluding negotiable certificates of deposit; liability | FA264122005 | 172.2 | 64.2 | 206.9 | 50.4 | 34.3 | 316.5 | 372.8 | 110.1 | 28.3 | 24 |
| All sectors; total debt securities; asset | FA894022005 | 2737.5 | 3197.8 | 3025.4 | 3117.6 | 3071.3 | 3035.1 | 2780.5 | 4012.4 | 2273.4 | 25 |
| Domestic nonfinancial sectors; debt securities; asset | FA384022005 | 2168.6 | 1449.0 | 10.7 | 640.6 | 1276.0 | -949.0 | 1430.0 | 328.0 | -766.2 | 26 |
| Households and nonprofit organizations; debt securities; asset | FA154022005 | 1838.9 | 1297.8 | -206.6 | 320.1 | 1528.7 | -1304.5 | 1264.6 | 172.5 | -959.1 | 27 |
| Nonfinancial corporate business; debt securities; asset | FA104022005 | -5.4 | -9.2 | 23.2 | 157.1 | -265.3 | 88.9 | -82.0 | 44.4 | 41.5 | 28 |
| Nonfinancial noncorporate business; debt securities; asset | FA114022005 | 21.5 | 0.0 | 3.2 | 14.6 | -17.2 | 6.6 | 2.8 | -13.1 | 16.3 | 29 |
| Federal government; debt securities; asset | FA314022005 | 0.0 | -0.0 | 0.0 | 0.0 | -0.0 | -0.3 | 0.1 | 0.0 | 0.3 | 30 |
| State and local governments; debt securities; asset | FA214022005 | 313.5 | 160.3 | 190.9 | 148.7 | 29.8 | 260.3 | 244.5 | 124.2 | 134.8 | 31 |
| Domestic financial sectors; debt securities; asset | FA794022005 | -151.3 | 650.6 | 1974.1 | 1448.5 | 694.0 | 2905.4 | 741.7 | 2026.0 | 2223.4 | 32 |
| Monetary authority; debt securities; asset | FA714022005 | -175.9 | -957.2 | -719.3 | -880.8 | -893.0 | -884.0 | -879.4 | -599.5 | -514.4 | 33 |
| U.S.-chartered depository institutions; debt securities; asset | FA764022005 | -109.6 | -394.2 | 99.3 | -530.0 | -109.3 | 494.0 | -174.8 | 152.9 | -74.6 | 34 |
| Foreign banking offices in the U.S.; debt securities; asset | FA754022005 | 58.4 | -36.7 | 29.0 | -18.4 | -81.2 | 60.2 | 36.8 | -28.2 | 47.3 | 35 |
| Banks in U.S.-affiliated areas; debt securities; asset | FA744022003 | 10.5 | 19.4 | 6.5 | 83.2 | 1.8 | 6.3 | 12.4 | -11.8 | 19.1 | 36 |
| Credit unions; debt securities; asset | FA474022005 | 29.2 | -40.4 | -8.2 | -25.0 | -62.0 | -11.3 | -1.3 | -23.3 | 3.3 | 37 |
| Property-casualty insurance companies; debt securities; asset | FA514022005 | 80.1 | 87.9 | 321.5 | 213.8 | 16.8 | 225.2 | 414.7 | 341.8 | 304.5 | 38 |
| Life insurance companies; debt securities; asset | FA544022005 | 191.9 | 87.6 | 210.7 | 84.6 | -8.6 | 310.6 | 216.6 | 211.5 | 104.3 | 39 |
| Private pension funds; debt securities; asset | FA574022005 | -50.1 | 3.5 | 17.2 | 16.8 | -9.1 | 10.4 | 39.2 | 6.2 | 12.9 | 40 |
| Federal government retirement funds; debt securities; asset | FA344022005 | -3.1 | 2.5 | 0.0 | -2.3 | 4.1 | 1.7 | -3.6 | 2.2 | -0.1 | 41 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | FA224022045 | 15.3 | 18.3 | 196.0 | 21.0 | 14.7 | 148.3 | 280.6 | 195.5 | 159.7 | 42 |
| Money market funds; debt securities; asset | FA634022005 | -546.8 | 1392.9 | 911.8 | 1723.4 | 1783.4 | 1269.3 | 119.6 | 866.2 | 1392.1 | 43 |
| Mutual funds; debt securities; asset (market value) | FA654022005 | -191.6 | 134.3 | 405.5 | 255.3 | -202.0 | 708.8 | 239.8 | 255.5 | 417.9 | 44 |
| Closed-end funds; debt securities; asset | FA554022005 | -0.6 | -0.9 | -1.2 | -1.4 | -3.5 | 0.5 | -0.6 | -1.1 | -3.6 | 45 |
| Exchange-traded funds; debt securities; asset | FA564022005 | 206.5 | 203.4 | 291.1 | 155.4 | 259.0 | 201.3 | 270.5 | 391.6 | 300.9 | 46 |
| Government-sponsored enterprises; debt securities; asset | FA404022005 | 13.9 | 56.0 | 67.3 | 55.8 | 75.1 | -23.9 | 51.9 | 57.6 | 183.4 | 47 |
| Issuers of asset-backed securities; debt securities; asset | FA674022005 | 4.6 | -5.0 | -9.6 | -5.0 | -7.0 | -9.0 | -9.3 | -9.7 | -10.6 | 48 |
| Finance companies; corporate and foreign bonds; asset | FA613063003 | -4.2 | -25.8 | -4.6 | -6.5 | -38.0 | 4.4 | 33.5 | -62.0 | 5.6 | 49 |
| Mortgage real estate investment trusts; debt securities; asset | FA644022075 | -1.3 | 23.8 | 17.8 | 47.4 | -40.3 | 8.8 | 21.4 | 51.8 | -10.8 | 50 |
| Security brokers and dealers; debt securities; asset | FA664022005 | 135.8 | 128.3 | 182.5 | 249.2 | -164.1 | 468.6 | -35.2 | 266.3 | 30.2 | 51 |
| Holding companies; long-term debt securities; asset | FA734022605 | 58.6 | -4.9 | -3.6 | 55.4 | -5.0 | -37.6 | 13.8 | -9.5 | 18.9 | 52 |
| Other financial business; debt securities; asset | FA504022005 | 127.3 | -42.2 | -35.5 | -43.2 | 162.1 | -47.0 | 95.3 | -27.8 | -162.4 | 53 |
| Rest of the world; debt securities, excluding negotiable certificates of deposit; asset | FA264022005 | 720.3 | 1098.2 | 1040.5 | 1028.6 | 1101.4 | 1078.8 | 608.8 | 1658.4 | 816.1 | 54 |
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 (table F.101).
Last Update: March 13, 2025