Financial Accounts of the United States - Z.1
L.212 Municipal securities
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 liabilities | FL383162005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 2 | State and local governments | FL213162005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 3 | Short-term1 | FL213162400 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 4 | Long-term | FL213162200 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 5 | Nonprofit organizations2 | FL163162003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 6 | Nonfinancial corporate business (industrial revenue bonds) | FL103162000 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 7 | Total assets | FL893062005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 8 | Household sector | LM153062005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 9 | Nonfinancial corporate business | LM103062003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 10 | Nonfinancial noncorporate business | LM113062003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 11 | State and local governments | LM213062003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 12 | U.S.-chartered depository institutions | LM763062005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 13 | Foreign banking offices in U.S. | LM753062003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 14 | Banks in U.S.-affiliated areas | LM743062003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 15 | Credit unions | LM473062005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 16 | Property-casualty insurance companies | LM513062005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 17 | Life insurance companies | LM543062005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 18 | Federal government pension funds | LM343062033 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 19 | State and local govt. pension funds | LM223062043 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 20 | Money market funds | FL633062000 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 21 | Mutual funds | LM653062003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 22 | Closed-end funds | LM553062003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 23 | Exchange-traded funds | LM563062003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 24 | Government-sponsored enterprises | LM403062005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 25 | Brokers and dealers | LM663062005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 26 | Other financial business | FL503062003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 27 | Rest of the world | LM263062003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 28 | Discrepancy3 | LM903062003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
Notes:
- Debt with original maturity of 13 months or less.
- 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