Financial Accounts of the United States - Z.1
L.107 State and local governments
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
| Line | Description | Series | 2023 | 2024 | 2025 | 2024:Q3 | 2024:Q4 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Total financial assets | FL214090005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 2 | Checkable deposits and currency | FL213020005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 3 | Time and savings deposits | FL213030000 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 4 | Money market fund shares | FL213034003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 5 | Security repurchase agreements | FL212051003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 6 | Debt securities | LM214022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 7 | Open market paper | FL213069103 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 8 | Treasury securities | LM213061103 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 9 | Agency- and GSE-backed securities | LM213061703 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 10 | Municipal securities | LM213062003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 11 | Corporate and foreign bonds | LM213063003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 12 | Loans | FL214023005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 13 | Mortgages | FL213065005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 14 | Other loans and advances1 | FL213069200 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 15 | Corporate equities | LM213064103 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 16 | Mutual fund shares | LM213064203 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 17 | Trade receivables | FL213070003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 18 | Taxes receivable | FL213078005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 19 | Miscellaneous assets | FL213093003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 20 | Total liabilities | FL214190005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 21 | Debt securities (municipal securities) | FL213162005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 22 | Short-term2 | FL213162400 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 23 | Long-term | FL213162200 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 24 | Loans | FL214141005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 25 | Depository institution loans n.e.c. | FL213168003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 26 | Other loans and advances | FL213169203 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 27 | Trade payables | FL213170003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 28 | Claims of pension fund on sponsor3 | FL223073045 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
Notes:
- State and Local Government Series (SLGS) nonmarketable Treasury securities classified as loans.
- Debt with original maturity of 13 months or less.
- Included in miscellaneous liabilities.
Last Update: March 9, 2026