Financial Accounts of the United States - Z.1
L.208 Debt Securities (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
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| 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 | FL894122005 | 55882.2 | 59093.5 | 62003.8 | 58122.2 | 59093.5 | 60005.4 | 60338.6 | 61510.6 | 62003.8 | 1 |
| All sectors; open market paper; liability | FL893169175 | 1203.7 | 1225.0 | 1323.4 | 1206.6 | 1225.0 | 1237.4 | 1221.3 | 1245.9 | 1323.4 | 2 |
| Federal government; Treasury securities; liability | FL313161105 | 23845.0 | 26226.6 | 28139.5 | 25630.2 | 26226.6 | 26808.6 | 26903.1 | 27586.4 | 28139.5 | 3 |
| All sectors; U.S. government agency securities; liability | FL893161705 | 11678.6 | 11976.0 | 12249.2 | 11938.8 | 11976.0 | 11973.7 | 12057.5 | 12137.8 | 12249.2 | 4 |
| Domestic nonfinancial sectors; municipal securities; liability | FL383162005 | 4047.2 | 4069.9 | 4188.0 | 4058.3 | 4069.9 | 4094.8 | 4140.4 | 4175.5 | 4188.0 | 5 |
| All sectors; corporate and foreign bonds; liability | FL893163005 | 15107.8 | 15596.1 | 16103.7 | 15288.3 | 15596.1 | 15891.0 | 16016.4 | 16365.0 | 16103.7 | 6 |
| All sectors; total debt securities; liability | FL894122005 | 55882.2 | 59093.5 | 62003.8 | 58122.2 | 59093.5 | 60005.4 | 60338.6 | 61510.6 | 62003.8 | 7 |
| Domestic nonfinancial sectors; debt securities; liability | FL384122005 | 35301.5 | 37933.1 | 40217.2 | 37298.7 | 37933.1 | 38664.0 | 38853.8 | 39671.3 | 40217.2 | 8 |
| Nonprofit organizations; municipal securities; liability (2) | FL163162003 | 204.2 | 206.3 | 214.5 | 206.6 | 206.3 | 208.7 | 212.3 | 214.1 | 214.5 | 9 |
| Nonfinancial corporate business; debt securities; liability | FL104122005 | 8010.6 | 8236.2 | 8501.9 | 8211.6 | 8236.2 | 8365.3 | 8421.4 | 8522.9 | 8501.9 | 10 |
| Federal government; debt securities; liability | FL314122005 | 23864.8 | 26246.7 | 28159.9 | 25649.7 | 26246.7 | 26828.6 | 26923.4 | 27606.7 | 28159.9 | 11 |
| State and local governments; municipal securities; liability | FL213162005 | 3222.0 | 3243.9 | 3340.9 | 3230.8 | 3243.9 | 3261.4 | 3296.7 | 3327.6 | 3340.9 | 12 |
| Domestic financial sectors; debt securities; liability | FL794122005 | 16852.6 | 17348.3 | 17954.6 | 17154.9 | 17348.3 | 17495.4 | 17593.9 | 17871.2 | 17954.6 | 13 |
| U.S.-chartered depository institutions; debt securities; liability | FL764122005 | 446.6 | 448.1 | 429.1 | 442.8 | 448.1 | 441.4 | 436.1 | 450.4 | 429.1 | 14 |
| Foreign banking offices in the U.S.; open market paper; liability | FL753169175 | 106.7 | 148.0 | 179.9 | 120.7 | 148.0 | 153.4 | 159.2 | 168.6 | 179.9 | 15 |
| Government-sponsored enterprises; GSE issues; liability | FL403161705 | 8970.8 | 9085.1 | 9184.1 | 9098.3 | 9085.1 | 9047.5 | 9086.5 | 9123.1 | 9184.1 | 16 |
| Agency-and GSE-backed mortgage pools; total mortgages; asset | FL413065005 | 2687.9 | 2870.7 | 3044.6 | 2820.9 | 2870.7 | 2906.2 | 2950.8 | 2994.4 | 3044.6 | 17 |
| Issuers of asset-backed securities; debt securities; liability | FL674122005 | 1469.4 | 1507.3 | 1613.0 | 1498.3 | 1507.3 | 1531.8 | 1541.7 | 1570.0 | 1613.0 | 18 |
| Finance companies; debt securities; liability | FL614122005 | 1062.4 | 1155.6 | 1220.8 | 1112.7 | 1155.6 | 1169.7 | 1197.8 | 1217.1 | 1220.8 | 19 |
| Mortgage real estate investment trusts; debt securities; liability | FL644122075 | 213.4 | 212.8 | 211.9 | 204.0 | 212.8 | 211.6 | 206.7 | 209.1 | 211.9 | 20 |
| Security brokers and dealers; corporate and foreign bonds; liability | FL663163003 | 236.1 | 236.2 | 327.3 | 221.0 | 236.2 | 251.0 | 259.1 | 327.2 | 327.3 | 21 |
| Holding companies; debt securities; liability | FL734122005 | 1541.8 | 1556.3 | 1616.5 | 1486.4 | 1556.3 | 1632.5 | 1613.6 | 1662.6 | 1616.5 | 22 |
| Other financial business; debt securities; liability | FL504122005 | 117.4 | 128.2 | 127.3 | 149.8 | 128.2 | 150.2 | 142.4 | 148.8 | 127.3 | 23 |
| Rest of the world; debt securities, excluding negotiable certificates of deposit; liability | LM264122005 | 3728.1 | 3812.1 | 3832.0 | 3668.6 | 3812.1 | 3846.1 | 3890.9 | 3968.1 | 3832.0 | 24 |
| All sectors; total debt securities; asset | FL894022005 | 50948.8 | 55202.5 | 58076.9 | 52287.2 | 55202.5 | 55782.9 | 56026.0 | 58807.1 | 58076.9 | 25 |
| Domestic nonfinancial sectors; debt securities; asset | FL384022005 | 7398.2 | 8957.9 | 9261.4 | 8469.5 | 8957.9 | 8930.6 | 9170.6 | 9584.6 | 9261.4 | 26 |
| Households and nonprofit organizations; debt securities; asset | LM154022005 | 4679.1 | 6025.2 | 6134.9 | 5600.8 | 6025.2 | 5944.6 | 6147.3 | 6415.5 | 6134.9 | 27 |
| Nonfinancial corporate business; debt securities; asset | LM104022005 | 382.2 | 378.3 | 398.8 | 432.0 | 378.3 | 391.8 | 373.8 | 391.7 | 398.8 | 28 |
| Nonfinancial noncorporate business; debt securities; asset | LM114022005 | 85.7 | 87.8 | 90.0 | 87.4 | 87.8 | 88.3 | 88.8 | 89.3 | 90.0 | 29 |
| Federal government; debt securities; asset | FL314022005 | 4.9 | 4.4 | 3.6 | 4.6 | 4.4 | 4.0 | 4.1 | 3.7 | 3.6 | 30 |
| State and local governments; debt securities; asset | LM214022005 | 2246.3 | 2462.2 | 2633.9 | 2344.7 | 2462.2 | 2501.8 | 2556.6 | 2684.4 | 2633.9 | 31 |
| Domestic financial sectors; debt securities; asset | FL794022005 | 31069.1 | 32468.4 | 34354.7 | 30752.1 | 32468.4 | 32863.8 | 32746.5 | 34424.6 | 34354.7 | 32 |
| Monetary authority; debt securities; asset | LM714022005 | 7353.4 | 6527.6 | 5750.5 | 6397.6 | 6527.6 | 6208.3 | 5959.3 | 6066.3 | 5750.5 | 33 |
| U.S.-chartered depository institutions; debt securities; asset | LM764022005 | 5620.7 | 5361.6 | 5453.9 | 5169.4 | 5361.6 | 5416.0 | 5368.4 | 5576.9 | 5453.9 | 34 |
| Foreign banking offices in the U.S.; debt securities; asset | LM754022005 | 297.8 | 271.5 | 298.5 | 275.7 | 271.5 | 283.9 | 291.6 | 297.3 | 298.5 | 35 |
| Banks in U.S.-affiliated areas; debt securities; asset | LM744022003 | 50.9 | 73.2 | 79.2 | 68.9 | 73.2 | 74.1 | 76.8 | 77.1 | 79.2 | 36 |
| Credit unions; debt securities; asset | LM474022005 | 383.6 | 352.3 | 344.8 | 354.4 | 352.3 | 348.4 | 346.9 | 352.7 | 344.8 | 37 |
| Property-casualty insurance companies; debt securities; asset | LM514022005 | 1241.7 | 1363.7 | 1678.4 | 1291.9 | 1363.7 | 1408.2 | 1504.0 | 1642.2 | 1678.4 | 38 |
| Life insurance companies; debt securities; asset | LM544022005 | 3904.9 | 4013.9 | 4181.5 | 3811.9 | 4013.9 | 4057.0 | 4080.0 | 4315.5 | 4181.5 | 39 |
| Private pension funds; debt securities; asset | LM574022005 | 1487.4 | 1544.7 | 1548.1 | 1462.3 | 1544.7 | 1532.5 | 1533.6 | 1601.7 | 1548.1 | 40 |
| Federal government retirement funds; debt securities; asset | LM344022005 | 39.7 | 43.3 | 43.0 | 40.4 | 43.3 | 43.3 | 42.3 | 44.4 | 43.0 | 41 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 1024.4 | 1099.2 | 1283.8 | 1035.9 | 1099.2 | 1125.3 | 1189.6 | 1290.2 | 1283.8 | 42 |
| Money market funds; debt securities; asset | FL634022005 | 2022.0 | 3414.8 | 4326.6 | 2881.2 | 3414.8 | 3742.0 | 3611.5 | 3887.4 | 4326.6 | 43 |
| Mutual funds; debt securities; asset (market value) | LM654022005 | 4794.0 | 5065.6 | 5451.1 | 4861.5 | 5065.6 | 5193.3 | 5227.3 | 5496.0 | 5451.1 | 44 |
| Closed-end funds; debt securities; asset | LM554022005 | 152.5 | 153.8 | 152.0 | 144.8 | 153.8 | 154.6 | 153.5 | 156.6 | 152.0 | 45 |
| Exchange-traded funds; debt securities; asset | LM564022005 | 1258.7 | 1493.5 | 1753.1 | 1367.4 | 1493.5 | 1531.6 | 1588.4 | 1740.8 | 1753.1 | 46 |
| Government-sponsored enterprises; debt securities; asset | LM404022005 | 395.6 | 456.4 | 527.0 | 427.2 | 456.4 | 451.5 | 464.7 | 490.8 | 527.0 | 47 |
| Issuers of asset-backed securities; debt securities; asset | FL674022005 | 36.4 | 31.4 | 21.8 | 33.2 | 31.4 | 29.2 | 26.9 | 24.4 | 21.8 | 48 |
| Finance companies; corporate and foreign bonds; asset | LM613063003 | 52.0 | 28.3 | 24.0 | 35.3 | 28.3 | 29.1 | 37.2 | 23.5 | 24.0 | 49 |
| Mortgage real estate investment trusts; debt securities; asset | LM644022075 | 159.0 | 187.4 | 206.1 | 191.1 | 187.4 | 188.5 | 194.1 | 213.1 | 206.1 | 50 |
| Security brokers and dealers; debt securities; asset | LM664022005 | 311.4 | 447.7 | 627.0 | 435.4 | 447.7 | 542.0 | 535.1 | 601.4 | 627.0 | 51 |
| Holding companies; long-term debt securities; asset | LM734022605 | 181.7 | 182.4 | 177.0 | 174.2 | 182.4 | 170.8 | 173.7 | 178.8 | 177.0 | 52 |
| Other financial business; debt securities; asset | FL504022005 | 301.1 | 356.1 | 427.1 | 292.2 | 356.1 | 334.4 | 341.8 | 347.4 | 427.1 | 53 |
| Rest of the world; debt securities, excluding negotiable certificates of deposit; asset | LM264022005 | 12481.5 | 13776.3 | 14460.8 | 13065.5 | 13776.3 | 13988.5 | 14108.9 | 14797.8 | 14460.8 | 54 |
| Instrument discrepancies; debt securities (level) (3) | LM904022005 | 4933.5 | 3891.0 | 3926.9 | 5835.0 | 3891.0 | 4222.6 | 4312.6 | 2703.5 | 3926.9 | 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: March 13, 2025