Financial Accounts of the United States - Z.1
F3.4.s Municipal securities 🕮 PDF
| Line | Description | Series | 2023 | 2024 | 2025 | 2024:Q4 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 | 2026:Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Total liabilities | FL383162005 | 4095.6 | 4215.9 | 4404.6 | 4215.9 | 4251.4 | 4323.0 | 4367.5 | 4404.6 | 4455.9 |
| Line 2 | State and local governments | FL213162005 | 3262.7 | 3361.5 | 3518.7 | 3361.5 | 3388.6 | 3444.1 | 3489.5 | 3518.7 | 3564.3 |
| Line 3 | Short-term(1) | FL213162400 | 26.9 | 34.6 | 38.5 | 34.6 | 32.1 | 31.8 | 36.5 | 38.5 | 38.2 |
| Line 4 | Long-term | FL213162200 | 3235.8 | 3326.9 | 3480.1 | 3326.9 | 3356.5 | 3412.3 | 3453.0 | 3480.1 | 3526.1 |
| Line 5 | Nonprofit organizations(2) | FL163162003 | 208.7 | 217.1 | 233.3 | 217.1 | 219.2 | 225.3 | 228.6 | 233.3 | 236.6 |
| Line 6 | Nonfinancial corporate business (industrial revenue bonds) | FL103162000 | 624.2 | 637.2 | 652.6 | 637.2 | 643.6 | 653.6 | 649.4 | 652.6 | 655.0 |
| Line 7 | Total assets | FL893062005 | 4002.9 | 4068.6 | 4278.5 | 4068.6 | 4059.8 | 4101.6 | 4225.0 | 4278.5 | 4267.3 |
| Line 8 | Household sector | LM153062005 | 1880.0 | 1952.5 | 2069.3 | 1952.5 | 1949.9 | 1983.2 | 2050.5 | 2069.3 | 2074.1 |
| Line 9 | Nonfinancial corporate business | LM103062003 | 24.9 | 25.3 | 25.8 | 25.3 | 25.3 | 25.5 | 26.3 | 25.8 | 25.7 |
| Line 10 | Nonfinancial noncorporate business | LM113062003 | 3.7 | 3.9 | 4.2 | 3.9 | 4.0 | 4.0 | 4.1 | 4.2 | 4.2 |
| Line 11 | State and local governments | LM213062003 | 44.1 | 46.0 | 48.7 | 46.0 | 46.6 | 47.9 | 49.2 | 48.7 | 48.7 |
| Line 12 | U.S.-chartered depository institutions | LM763062005 | 404.3 | 363.8 | 357.4 | 363.8 | 357.1 | 353.6 | 359.4 | 357.4 | 351.2 |
| Line 13 | Foreign banking offices in U.S. | LM753062003 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 14 | Banks in U.S.-affiliated areas | LM743062003 | 0.1 | 0.1 | 0.2 | 0.1 | 0.1 | 0.1 | 0.3 | 0.2 | 0.2 |
| Line 15 | Credit unions | LM473062005 | 10.7 | 10.1 | 9.7 | 10.1 | 10.1 | 10.0 | 9.9 | 9.7 | 9.9 |
| Line 16 | Property-casualty insurance companies | LM513062005 | 221.7 | 206.7 | 208.2 | 206.7 | 203.2 | 203.9 | 209.8 | 208.2 | 206.0 |
| Line 17 | Life insurance companies | LM543062005 | 193.4 | 170.9 | 166.5 | 170.9 | 166.4 | 164.2 | 167.9 | 166.5 | 163.9 |
| Line 18 | Federal government pension funds | LM343062033 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 19 | State and local govt. pension funds | LM223062043 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 20 | Money market funds | FL633062000 | 129.6 | 138.5 | 155.0 | 138.5 | 138.3 | 140.7 | 139.7 | 155.0 | 149.9 |
| Line 21 | Mutual funds | LM653062003 | 756.1 | 799.8 | 835.1 | 799.8 | 803.7 | 805.4 | 828.4 | 835.1 | 825.8 |
| Line 22 | Closed-end funds | LM553062003 | 79.4 | 74.4 | 69.8 | 74.4 | 72.2 | 70.5 | 70.1 | 69.8 | 68.3 |
| Line 23 | Exchange-traded funds | LM563062003 | 122.6 | 137.9 | 184.4 | 137.9 | 142.2 | 149.8 | 162.9 | 184.4 | 199.0 |
| Line 24 | Government-sponsored enterprises | LM403062005 | 2.2 | 2.3 | 2.7 | 2.3 | 2.4 | 2.6 | 2.5 | 2.7 | 2.8 |
| Line 25 | Brokers and dealers | LM663062005 | 13.3 | 15.3 | 13.3 | 15.3 | 17.1 | 18.6 | 18.1 | 13.3 | 14.7 |
| Line 26 | Other financial business | FL503062003 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 27 | Rest of the world | LM263062003 | 116.7 | 121.0 | 128.1 | 121.0 | 121.1 | 121.6 | 125.9 | 128.1 | 122.6 |
| Line 28 | Discrepancy(3) | LM903062003 | 92.7 | 147.3 | 126.1 | 147.3 | 191.6 | 221.4 | 142.6 | 126.1 | 188.7 |
Notes:
- Debt with original maturity of 13 months or less.
- Liability of the households and nonprofit organizations sector (tables S1M.s and S1M.b).
- The accumulated valuation difference between issuance and holdings.
Last Update: June 11, 2026