Financial Accounts of the United States - Z.1
F3.t Debt securities 🕮 PDF
| Line | Description | Series | 2023 | 2024 | 2025 | 2024:Q4 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 | 2026:Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Net issues (by instrument) | FA894122005 | 3223.9 | 3052.0 | 3185.7 | 2127.8 | 3116.9 | 2473.7 | 5003.3 | 2148.7 | 4184.7 |
| Line 2 | Open market paper | FA893169175 | 15.8 | -8.2 | 148.6 | -105.4 | 321.3 | 259.5 | -55.5 | 68.9 | -5.2 |
| Line 3 | Treasury securities | FA313161105 | 2381.6 | 1912.9 | 1930.2 | 1966.6 | 1056.2 | 921.8 | 3988.7 | 1753.9 | 2126.0 |
| Line 4 | Agency- and GSE-backed securities | FA893161705 | 297.4 | 298.6 | 213.2 | 485.6 | 188.5 | 428.0 | 179.5 | 56.8 | 387.8 |
| Line 5 | Municipal securities | FA383162005 | 24.4 | 120.3 | 188.7 | -68.4 | 186.6 | 352.6 | 199.9 | 15.7 | 257.4 |
| Line 6 | Corporate and foreign bonds | FA893163005 | 504.7 | 728.4 | 705.0 | -150.6 | 1364.3 | 511.8 | 690.7 | 253.3 | 1418.6 |
| Line 7 | Net issues | FA894122005 | 3223.9 | 3052.0 | 3185.7 | 2127.8 | 3116.9 | 2473.7 | 5003.3 | 2148.7 | 4184.7 |
| Line 8 | Domestic nonfinancial sectors | FA384122005 | 2635.1 | 2285.1 | 2374.8 | 1821.2 | 1843.4 | 1317.7 | 4469.8 | 1868.5 | 3002.2 |
| Line 9 | Nonprofit organizations(2) | FA163162003 | 2.3 | 8.4 | 16.2 | 2.3 | 8.3 | 24.6 | 13.2 | 18.7 | 13.2 |
| Line 10 | Nonfinancial corporate business | FA104122005 | 227.4 | 264.7 | 269.9 | -102.5 | 632.9 | 84.8 | 272.6 | 89.0 | 636.6 |
| Line 11 | Federal government | FA314122005 | 2382.0 | 1913.2 | 1931.6 | 1967.4 | 1057.2 | 923.6 | 3992.4 | 1753.2 | 2126.7 |
| Line 12 | State and local governments | FA213162005 | 23.4 | 98.8 | 157.2 | -45.9 | 145.0 | 284.7 | 191.5 | 7.5 | 225.7 |
| Line 13 | Domestic financial sectors | FA794122005 | 493.3 | 563.9 | 595.5 | 258.3 | 962.9 | 1040.9 | 497.5 | -119.2 | 943.9 |
| Line 14 | U.S.-chartered depository institutions | FA764122005 | -3.7 | -27.4 | 15.6 | -128.4 | 97.2 | 173.1 | -89.9 | -117.8 | 98.9 |
| Line 15 | Foreign banking offices in U.S. | FA753169175 | 39.3 | 27.3 | 6.8 | 23.8 | -35.3 | 76.7 | 59.8 | -74.2 | -10.5 |
| Line 16 | Government-sponsored enterprises | FA403161705 | 114.3 | 124.4 | 46.5 | 310.8 | 35.6 | 225.1 | -13.6 | -61.2 | 283.6 |
| Line 17 | Agency- and GSE-backed mortgage pools | FA413065005 | 182.7 | 173.9 | 165.3 | 174.1 | 151.9 | 201.1 | 189.4 | 118.7 | 103.5 |
| Line 18 | ABS issuers | FA674122005 | 37.5 | 122.8 | 187.3 | 129.6 | 208.1 | 156.2 | 285.4 | 99.5 | 211.3 |
| Line 19 | Finance companies | FA614122005 | 93.2 | 64.9 | -9.5 | -2.7 | 33.8 | 18.0 | 5.7 | -95.5 | -19.6 |
| Line 20 | Mortgage REITs | FA644122075 | -0.5 | 1.8 | 26.6 | 20.9 | 3.8 | 8.7 | 30.1 | 63.9 | 6.7 |
| Line 21 | Brokers and dealers | FA663163003 | 0.1 | 91.1 | 35.0 | 0.5 | 123.7 | 75.6 | 15.3 | -74.5 | 108.2 |
| Line 22 | Holding companies | FA734122005 | 19.6 | -14.2 | 85.7 | -192.8 | 259.5 | 117.0 | -67.5 | 33.7 | 212.1 |
| Line 23 | Other financial business | FA504122005 | 10.8 | -0.6 | 36.2 | -77.4 | 84.4 | -10.6 | 82.8 | -11.8 | -50.4 |
| Line 24 | Rest of the world | FA264122005 | 95.5 | 202.9 | 215.3 | 48.3 | 310.7 | 115.2 | 36.0 | 399.4 | 238.6 |
| Line 25 | Net purchases | FA894022005 | 3223.9 | 3052.0 | 3185.7 | 2127.8 | 3116.9 | 2473.7 | 5003.3 | 2148.7 | 4184.7 |
| Line 26 | Domestic nonfinancial sectors | FA384022005 | 1131.7 | 149.0 | -41.7 | -480.5 | 270.7 | 324.4 | 14.9 | -776.9 | -653.7 |
| Line 27 | Household sector | FA154022005 | 1044.9 | 46.4 | -170.8 | -459.0 | 196.0 | 62.3 | -156.7 | -784.9 | -814.5 |
| Line 28 | Nonfinancial corporate business | FA104022005 | 12.8 | -8.2 | 39.7 | -111.4 | 59.1 | -30.2 | 47.6 | 82.4 | 27.4 |
| Line 29 | Nonfinancial noncorporate business | FA114022005 | -2.9 | 4.7 | 2.8 | 18.1 | -3.7 | 5.3 | 2.0 | 7.5 | 9.8 |
| Line 30 | Federal government | FA314022005 | -0.0 | -0.1 | 0.2 | 0.0 | 0.0 | 0.2 | 0.2 | 0.2 | 0.3 |
| Line 31 | State and local governments | FA214022005 | 76.9 | 106.0 | 86.5 | 71.7 | 19.3 | 286.8 | 121.8 | -82.1 | 123.3 |
| Line 32 | Domestic financial sectors | FA794022005 | 841.3 | 1888.8 | 2282.9 | 1947.2 | 1355.5 | 1462.9 | 3869.1 | 2444.1 | 3705.7 |
| Line 33 | Central bank | FA714022005 | -957.2 | -719.6 | -282.2 | -515.4 | -492.2 | -269.5 | -281.0 | -86.1 | 451.2 |
| Line 34 | U.S.-chartered depository institutions | FA764022005 | -389.2 | 98.9 | 136.2 | -82.0 | 400.4 | 246.9 | 218.2 | -320.4 | 686.7 |
| Line 35 | Foreign banking offices in U.S. | FA754022005 | -36.7 | 29.0 | 24.7 | 47.3 | -34.7 | 79.4 | -4.7 | 58.8 | 40.3 |
| Line 36 | Banks in U.S.-affiliated areas | FA744022003 | 19.4 | 6.5 | -6.1 | 19.1 | 0.8 | 2.3 | -16.2 | -11.5 | -1.9 |
| Line 37 | Credit unions | FA474022005 | -40.4 | -8.2 | 9.9 | 3.2 | 14.2 | 20.0 | 4.5 | 1.0 | 49.4 |
| Line 38 | Property-casualty insurance companies | FA514022005 | 87.8 | 200.1 | 101.7 | -172.7 | 101.8 | -36.9 | 356.3 | -14.4 | 249.4 |
| Line 39 | Life insurance companies | FA544022005 | 80.1 | 229.3 | 230.5 | 112.5 | 142.4 | 238.0 | 312.0 | 229.5 | 385.3 |
| Line 40 | Private pension funds | FA574022005 | 91.6 | 77.8 | 96.4 | 83.9 | 81.8 | 102.3 | 115.7 | 85.7 | 60.3 |
| Line 41 | Federal government pension funds | FA344022005 | 2.5 | 1.9 | 3.3 | 2.3 | 2.5 | 1.7 | 6.1 | 2.8 | -4.0 |
| Line 42 | State and local govt. pension funds | FA224022045 | 28.1 | 152.5 | 103.9 | 50.5 | 33.9 | 98.9 | 148.9 | 134.0 | 141.9 |
| Line 43 | Money market funds | FA634022005 | 1392.9 | 911.6 | 694.8 | 1521.9 | -359.1 | -214.9 | 2297.5 | 1055.6 | -148.9 |
| Line 44 | Mutual funds | FA654022005 | 137.7 | 361.0 | 310.8 | 287.2 | 304.2 | -9.4 | 465.7 | 482.6 | 584.9 |
| Line 45 | Closed-end funds | FA554022005 | -0.9 | -1.3 | 0.7 | -3.7 | -0.5 | 2.2 | -0.6 | 1.5 | 1.7 |
| Line 46 | Exchange-traded funds | FA564022005 | 203.5 | 294.8 | 435.6 | 315.8 | 408.4 | 340.2 | 455.7 | 538.1 | 694.3 |
| Line 47 | Government-sponsored enterprises | FA404022005 | 56.0 | 61.5 | 46.7 | 160.4 | 25.9 | 137.8 | 0.3 | 22.9 | 39.5 |
| Line 48 | ABS issuers | FA674022005 | -5.0 | -5.2 | -7.1 | 1.3 | -14.7 | -8.8 | -5.3 | 0.5 | -0.5 |
| Line 49 | Finance companies | FA613063003 | -25.8 | -7.6 | 1.0 | -6.2 | -0.4 | -2.6 | -2.7 | 9.5 | 2.2 |
| Line 50 | Mortgage REITs | FA644022075 | 23.8 | 17.6 | 67.1 | -11.4 | 56.3 | 28.2 | 84.8 | 99.2 | 38.5 |
| Line 51 | Brokers and dealers | FA664022005 | 222.5 | 176.8 | 237.4 | 125.5 | 504.6 | 411.0 | -134.1 | 168.2 | 467.4 |
| Line 52 | Holding companies | FA734022605 | -4.9 | -3.6 | -14.5 | 19.1 | 10.3 | -30.6 | -16.7 | -20.8 | 27.8 |
| Line 53 | Other financial business | FA504022005 | -44.5 | 14.9 | 92.2 | -11.5 | 169.7 | 326.8 | -135.3 | 7.4 | -59.7 |
| Line 54 | Rest of the world | FA264022005 | 1250.9 | 1014.2 | 944.5 | 661.1 | 1490.7 | 686.4 | 1119.3 | 481.4 | 1132.7 |
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 S1M.t).
Last Update: June 11, 2026