Financial Accounts of the United States - Z.1
F.210 Treasury securities1
Billions of dollars; quarterly figures are seasonally adjusted annual rates
| Line | Description | Series | 2023 | 2024 | 2025 | 2024:Q3 | 2024:Q4 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Net issues | FA313161105 | 2381.6 | 1912.9 | 1930.2 | 2523.9 | 1966.6 | 1056.2 | 921.8 | 3988.7 | 1753.9 |
| Line 2 | Treasury bills | FA313161110 | 1978.7 | 511.4 | 360.4 | 747.7 | 482.6 | -299.4 | -848.7 | 2227.9 | 361.7 |
| Line 3 | Other Treasury notes, bonds, and TIPS2 | FA313161275 | 402.9 | 1401.5 | 1569.8 | 1776.2 | 1484.0 | 1355.7 | 1770.5 | 1760.8 | 1392.2 |
| Line 4 | Net purchases | FA893061105 | 2381.6 | 1912.9 | 1930.2 | 2523.9 | 1966.6 | 1056.2 | 921.8 | 3988.7 | 1753.9 |
| Line 5 | Household sector | FA153061105 | 811.2 | 145.0 | 219.9 | 360.5 | -107.7 | 174.3 | 637.7 | -60.7 | 128.5 |
| Line 6 | Nonfinancial corporate business | FA103061103 | 19.9 | 12.9 | 9.4 | 83.9 | 27.2 | -4.2 | 9.3 | 17.5 | 14.9 |
| Line 7 | Nonfinancial noncorporate business | FA113061003 | 0.1 | 3.0 | -0.7 | -12.9 | 16.0 | -6.5 | 0.7 | -0.6 | 3.4 |
| Line 8 | State and local governments | FA213061103 | 66.3 | 85.4 | 24.4 | 7.4 | 83.4 | 70.3 | -87.5 | 199.4 | -84.7 |
| Line 9 | Monetary authority | FA713061103 | -740.9 | -515.3 | -82.0 | -377.9 | -314.6 | -310.1 | -62.3 | -65.6 | 110.1 |
| Line 10 | Treasury bills | FA713061113 | -72.4 | -20.9 | 38.5 | 1.1 | 0.4 | 1.2 | 0.1 | 0.8 | 151.7 |
| Line 11 | Other Treasury securities | FA713061125 | -668.6 | -494.4 | -120.4 | -379.0 | -315.0 | -311.3 | -62.4 | -66.4 | -41.6 |
| Line 12 | U.S.-chartered depository institutions | FA763061100 | -90.1 | 194.3 | 178.7 | 170.2 | 302.9 | -17.6 | 345.2 | 331.1 | 55.9 |
| Line 13 | Foreign banking offices in U.S. | FA753061103 | 2.3 | 7.8 | 21.0 | -6.5 | -28.1 | 22.3 | 54.7 | 2.7 | 4.2 |
| Line 14 | Banks in U.S.-affiliated areas | FA743061103 | -2.4 | 1.3 | 1.0 | -11.7 | 8.0 | 1.6 | 4.3 | -2.1 | 0.3 |
| Line 15 | Credit unions | FA473061105 | -9.9 | -6.1 | 2.1 | -14.6 | 0.4 | -4.3 | 5.2 | 4.5 | 2.9 |
| Line 16 | Property-casualty insurance companies | FA513061105 | 46.5 | 99.9 | 62.4 | 207.7 | -226.5 | 261.4 | -140.6 | 222.7 | -93.8 |
| Line 17 | Treasury bills | FA513061115 | 28.5 | 88.2 | -6.2 | 196.7 | -240.5 | 35.3 | -158.6 | 200.8 | -102.4 |
| Line 18 | Other Treasury securities | FA513061125 | 18.0 | 11.6 | 68.7 | 11.0 | 14.1 | 226.1 | 18.0 | 21.9 | 8.7 |
| Line 19 | Life insurance companies | FA543061105 | 0.1 | 12.4 | 14.0 | 6.5 | 7.2 | 0.9 | 2.8 | 33.2 | 19.1 |
| Line 20 | Treasury bills | FA543061115 | 1.2 | 3.4 | -3.2 | 7.5 | 3.5 | 6.0 | -11.6 | -4.7 | -2.5 |
| Line 21 | Other Treasury securities | FA543061125 | -1.1 | 9.0 | 17.2 | -1.0 | 3.7 | -5.1 | 14.4 | 37.9 | 21.6 |
| Line 22 | Private pension funds | FA573061105 | 47.4 | 44.9 | 62.8 | 51.1 | 49.3 | 53.9 | 68.7 | 71.6 | 56.9 |
| Line 23 | Defined benefit plans | FA573061143 | 36.8 | 20.9 | 21.7 | 20.8 | 21.6 | 21.0 | 22.0 | 21.4 | 22.3 |
| Line 24 | Defined contribution plans | FA573061133 | 10.6 | 23.9 | 41.1 | 30.3 | 27.7 | 33.0 | 46.8 | 50.1 | 34.5 |
| Line 25 | Federal government pension funds | FA343061105 | 1.7 | 1.2 | 0.7 | 3.8 | 4.4 | 1.1 | -0.6 | 1.1 | 1.0 |
| Line 26 | Defined benefit plans | FA343061165 | 0.6 | -0.2 | -0.4 | 2.8 | 0.1 | -0.3 | -1.4 | 0.1 | 0.1 |
| Line 27 | Defined contribution plans | FA343061113 | 1.1 | 1.5 | 1.0 | 1.0 | 4.4 | 1.4 | 0.8 | 1.0 | 0.9 |
| Line 28 | State and local govt. pension funds | FA223061143 | 72.5 | 71.4 | 44.1 | 70.3 | -24.0 | 16.1 | -9.0 | 151.2 | 18.2 |
| Line 29 | Money market funds | FA633061105 | 1205.5 | 725.4 | 523.0 | 603.2 | 1120.0 | -571.5 | -480.7 | 2227.6 | 916.5 |
| Line 30 | Treasury bills | FA633061110 | 1264.0 | 562.2 | 258.8 | 648.9 | 694.8 | -887.1 | -681.8 | 1888.9 | 715.3 |
| Line 31 | Other Treasury securities | FA633061120 | -58.5 | 163.1 | 264.1 | -45.7 | 425.2 | 315.5 | 201.1 | 338.7 | 201.2 |
| Line 32 | Mutual funds | FA653061105 | 2.8 | 137.6 | 118.7 | 120.0 | 213.5 | -5.0 | -21.1 | 349.0 | 151.6 |
| Line 33 | Treasury bills | FA653061113 | 0.1 | -1.2 | 1.0 | -3.0 | 8.9 | -0.4 | -5.5 | 10.4 | -0.3 |
| Line 34 | Other Treasury securities | FA653061125 | 2.7 | 138.9 | 117.6 | 123.0 | 204.7 | -4.5 | -15.5 | 338.6 | 151.9 |
| Line 35 | Closed-end funds | FA553061103 | -0.3 | -0.1 | 0.0 | 0.0 | -0.4 | 0.1 | -0.1 | -0.0 | 0.2 |
| Line 36 | Exchange-traded funds | FA563061103 | 98.5 | 72.0 | 140.9 | 109.0 | 53.1 | 146.0 | 133.6 | 138.3 | 145.7 |
| Line 37 | Government-sponsored enterprises | FA403061105 | 4.2 | 62.5 | 14.1 | 55.5 | 159.3 | 11.9 | 100.5 | -22.3 | -33.7 |
| Line 38 | ABS issuers | FA673061103 | -5.0 | -5.2 | -7.1 | -3.8 | 1.3 | -14.7 | -8.8 | -5.3 | 0.5 |
| Line 39 | Brokers and dealers | FA663061105 | 108.0 | 130.2 | 71.2 | 68.2 | 311.0 | 87.6 | 99.9 | -101.8 | 199.1 |
| Line 40 | Holding companies | FA733061103 | -4.6 | -0.5 | -13.2 | 16.3 | 7.6 | 19.0 | -26.5 | -22.3 | -23.1 |
| Line 41 | Other financial business | FA503061123 | 19.5 | 23.7 | 16.2 | 48.4 | 35.1 | -10.7 | 12.1 | 13.3 | 50.0 |
| Line 42 | Rest of the world | FA263061105 | 728.2 | 609.1 | 508.7 | 969.2 | 267.9 | 1134.2 | 284.2 | 506.2 | 110.0 |
| Line 43 | Treasury bills | FA263061110 | 120.0 | 130.7 | 117.6 | 410.4 | 240.5 | 268.9 | -34.1 | 31.7 | 203.8 |
| Line 44 | Other Treasury securities | FA263061120 | 608.3 | 478.4 | 391.1 | 558.8 | 27.3 | 865.3 | 318.3 | 474.6 | -93.8 |
| Memo: | |||||||||||
| Line 45 | Nonmarketable Treasury securities3 | FA313169205 | 238.5 | 231.7 | 360.7 | 312.4 | 405.8 | -966.9 | -565.7 | 2046.7 | 928.6 |
Notes:
- Marketable Treasury securities (net of premiums and discounts) issued by the federal government and held by sectors other than the federal government.
- Includes long-term marketable securities issued to the Civil Service Retirement Fund by the Federal Financing Bank.
- Nonmarketable Treasury securities are classified as other loans and advances because they are not negotiable and are therefore not considered debt securities.
Last Update: 2026-03-19