Financial Accounts of the United States - Z.1
L.212 Municipal Securities
Billions of dollars; amounts outstanding end of period, not seasonally adjusted| Description | Series code | 2022 | 2023 | 2024 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 1 |
| 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 | 2 |
| State and local governments; short-term municipal securities; liability (1) | FL213162400 | 25.4 | 26.9 | 34.3 | 26.4 | 26.9 | 27.8 | 26.7 | 32.0 | 34.3 | 3 |
| State and local governments; long-term municipal securities; liability | FL213162200 | 3196.5 | 3217.0 | 3306.6 | 3204.4 | 3217.0 | 3233.6 | 3270.0 | 3295.6 | 3306.6 | 4 |
| 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 | 5 |
| Nonfinancial corporate business; municipal securities; liability | FL103162000 | 621.0 | 619.7 | 632.7 | 620.9 | 619.7 | 624.6 | 631.4 | 633.8 | 632.7 | 6 |
| All sectors; municipal securities; asset | FL893062005 | 3900.2 | 4026.1 | 4097.0 | 3785.5 | 4026.1 | 4012.9 | 4043.5 | 4156.4 | 4097.0 | 7 |
| Households and nonprofit organizations; municipal securities; asset | LM153062005 | 1616.3 | 1767.6 | 1829.5 | 1620.4 | 1767.6 | 1776.0 | 1804.2 | 1868.3 | 1829.5 | 8 |
| Nonfinancial corporate business; municipal securities; asset | LM103062003 | 28.2 | 29.1 | 30.0 | 27.4 | 29.1 | 29.0 | 29.2 | 30.0 | 30.0 | 9 |
| Nonfinancial noncorporate business; municipal securities; asset | LM113062003 | 3.2 | 3.3 | 3.4 | 3.3 | 3.3 | 3.3 | 3.3 | 3.4 | 3.4 | 10 |
| State and local governments; municipal securities; asset | LM213062003 | 43.4 | 47.3 | 50.6 | 45.1 | 47.3 | 48.0 | 49.0 | 51.5 | 50.6 | 11 |
| U.S.-chartered depository institutions; municipal securities; asset | LM763062000 | 580.2 | 532.0 | 486.2 | 519.4 | 532.0 | 506.6 | 498.6 | 497.2 | 486.2 | 12 |
| Foreign banking offices in the U.S.; municipal securities; asset | LM753062003 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 13 |
| Banks in U.S.-affiliated areas; municipal securities; asset | LM743062003 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 14 |
| Credit unions; municipal securities; asset | LM473062005 | 10.8 | 10.7 | 10.1 | 10.4 | 10.7 | 10.6 | 10.5 | 10.8 | 10.1 | 15 |
| Property-casualty insurance companies; municipal securities, including those held by U.S. residual market reinsurers; asset | LM513062005 | 246.1 | 221.6 | 211.7 | 212.9 | 221.6 | 213.6 | 210.4 | 215.5 | 211.7 | 16 |
| Life insurance companies; municipal securities; asset | LM543062005 | 197.9 | 192.5 | 184.7 | 184.3 | 192.5 | 189.1 | 184.2 | 184.7 | 184.7 | 17 |
| Federal government retirement funds; municipal securities held by National Railroad Retirement Investment Trust; asset | LM343062033 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 18 |
| State and local government employee defined benefit retirement funds; municipal securities; asset | LM223062043 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 19 |
| Money market funds; municipal securities; asset | FL633062000 | 117.9 | 129.6 | 138.5 | 121.5 | 129.6 | 127.9 | 132.2 | 131.1 | 138.5 | 20 |
| Mutual funds; municipal securities; asset (market value) | LM653062003 | 745.8 | 756.1 | 804.8 | 727.9 | 756.1 | 771.1 | 779.6 | 809.0 | 804.8 | 21 |
| Closed-end funds; municipal securities; asset | LM553062003 | 81.8 | 81.0 | 76.6 | 76.6 | 81.0 | 79.7 | 79.1 | 80.1 | 76.6 | 22 |
| Exchange-traded funds; municipal securities; asset | LM563062003 | 104.4 | 122.6 | 137.6 | 108.0 | 122.6 | 122.3 | 124.3 | 133.2 | 137.6 | 23 |
| Government-sponsored enterprises; municipal securities and Sallie Mae public academic facilities financing and Sallie Mae public warehousing advances; asset | LM403062005 | 2.2 | 2.2 | 2.2 | 2.1 | 2.2 | 2.3 | 2.3 | 2.3 | 2.2 | 24 |
| Security brokers and dealers; municipal securities; asset | LM663062003 | 12.0 | 13.5 | 15.4 | 15.0 | 13.5 | 15.4 | 18.1 | 16.2 | 15.4 | 25 |
| Other financial business; municipal securities held by COVID-19 Municipal Liquidity Facility (MLF); asset | FL503062003 | 2.9 | 0.0 | 0.0 | 2.9 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 26 |
| Rest of the world; municipal securities; asset | LM263062003 | 106.9 | 116.9 | 115.5 | 108.2 | 116.9 | 117.9 | 118.4 | 123.0 | 115.5 | 27 |
| Instrument discrepancies; municipal securities (level) (3) | LM903062003 | 147.0 | 43.8 | 91.0 | 272.8 | 43.8 | 81.8 | 96.9 | 19.1 | 91.0 | 28 |
NOTES
- Debt with original maturity of 13 months or less.
- 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