Financial Accounts of the United States - Z.1
L.208 Debt securities1
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 debt securities (by instrument) | FL894122005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 2 | Open market paper | FL893169175 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 3 | Treasury securities | FL313161105 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 4 | Agency- and GSE-backed securities | FL893161705 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 5 | Municipal securities | FL383162005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 6 | Corporate and foreign bonds | FL893163005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 7 | Total liabilities | FL894122005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 8 | Domestic nonfinancial sectors | FL384122005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 9 | Nonprofit organizations2 | FL163162003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 10 | Nonfinancial corporate business | FL104122005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 11 | Federal government | FL314122005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 12 | State and local governments | FL213162005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 13 | Domestic financial sectors | FL794122005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 14 | U.S.-chartered depository institutions | FL764122005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 15 | Foreign banking offices in U.S. | FL753169175 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 16 | Government-sponsored enterprises | FL403161705 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 17 | Agency- and GSE-backed mortgage pools | FL413065005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 18 | ABS issuers | FL674122005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 19 | Finance companies | FL614122005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 20 | Mortgage REITs | FL644122075 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 21 | Brokers and dealers | FL663163003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 22 | Holding companies | FL734122005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 23 | Other financial business | FL504122005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 24 | Rest of the world | LM264122005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 25 | Total assets | FL894022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 26 | Domestic nonfinancial sectors | FL384022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 27 | Household sector | LM154022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 28 | Nonfinancial corporate business | LM104022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 29 | Nonfinancial noncorporate business | LM114022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 30 | Federal government | FL314022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 31 | State and local governments | LM214022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 32 | Domestic financial sectors | FL794022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 33 | Monetary authority | LM714022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 34 | U.S.-chartered depository institutions | LM764022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 35 | Foreign banking offices in U.S. | LM754022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 36 | Banks in U.S.-affiliated areas | LM744022003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 37 | Credit unions | LM474022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 38 | Property-casualty insurance companies | LM514022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 39 | Life insurance companies | LM544022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 40 | Private pension funds | LM574022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 41 | Federal government pension funds | LM344022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 42 | State and local govt. pension funds | LM224022045 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 43 | Money market funds | FL634022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 44 | Mutual funds | LM654022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 45 | Closed-end funds | LM554022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 46 | Exchange-traded funds | LM564022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 47 | Government-sponsored enterprises | LM404022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 48 | ABS issuers | FL674022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 49 | Finance companies | LM613063003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 50 | Mortgage REITs | LM644022075 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 51 | Brokers and dealers | LM664022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 52 | Holding companies | LM734022605 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 53 | Other financial business | FL504022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 54 | Rest of the world | LM264022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 55 | Discrepancy3 | LM904022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
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 (tables L.101 and B.101).
- The accumulated valuation difference between issuance and holdings.
Last Update: March 9, 2026