Accessible Version
Measuring Cross-Border Securities Positions: Explaining Asymmetries between U.S. Treasury TIC and IMF PIP (formerly CPIS) Data, Accessible Data
Figure 1: Foreign Holdings of U.S. Long-term Debt and Equity over Time: TIC and IMF PIP
Upper Left Chart
Billions of dollars
| Panel | Date | Sector | TIC Long-term debt | PIP US Long-term debt |
|---|---|---|---|---|
| Upper left | 2012:H2 | 1. Total | 8651 | 7732 |
| Upper left | 2013:H1 | 1. Total | 8531 | 6872 |
| Upper left | 2013:H2 | 1. Total | 8841 | 7505 |
| Upper left | 2014:H1 | 1. Total | 9255 | 6704 |
| Upper left | 2014:H2 | 1. Total | 9404 | 7501 |
| Upper left | 2015:H1 | 1. Total | 9566 | 7139 |
| Upper left | 2015:H2 | 1. Total | 9501 | 8578 |
| Upper left | 2016:H1 | 1. Total | 10082 | 7831 |
| Upper left | 2016:H2 | 1. Total | 9887 | 9383 |
| Upper left | 2017:H1 | 1. Total | 10334 | 8843 |
| Upper left | 2017:H2 | 1. Total | 10544 | 9712 |
| Upper left | 2018:H1 | 1. Total | 10331 | 8913 |
| Upper left | 2018:H2 | 1. Total | 10358 | 10078 |
| Upper left | 2019:H1 | 1. Total | 11077 | 10035 |
| Upper left | 2019:H2 | 1. Total | 11474 | 11023 |
| Upper left | 2020:H1 | 1. Total | 11618 | 10529 |
| Upper left | 2020:H2 | 1. Total | 11835 | 11925 |
| Upper left | 2021:H1 | 1. Total | 12548 | 11161 |
| Upper left | 2021:H2 | 1. Total | 12635 | 11618 |
| Upper left | 2022:H1 | 1. Total | 11756 | 9834 |
| Upper left | 2022:H2 | 1. Total | 11608 | 10825 |
| Upper left | 2023:H1 | 1. Total | 11854 | 10286 |
| Upper left | 2023:H2 | 1. Total | 12560 | 12028 |
| Upper left | 2024:H1 | 1. Total | 12907 | 11507 |
| Upper left | 2024:H2 | 1. Total | 13261 | 13149 |
Upper Center Chart
Billions of dollars
| Panel | Date | Sector | TIC Long-term debt | PIP US Long-term debt |
|---|---|---|---|---|
| Upper center | 2012:H2 | 2. Official | 4275 | 2145 |
| Upper center | 2013:H1 | 2. Official | 4228 | 2030 |
| Upper center | 2013:H2 | 2. Official | 4247 | 1957 |
| Upper center | 2014:H1 | 2. Official | 4353 | 1897 |
| Upper center | 2014:H2 | 2. Official | 4392 | 1965 |
| Upper center | 2015:H1 | 2. Official | 4431 | 1996 |
| Upper center | 2015:H2 | 2. Official | 4356 | 2055 |
| Upper center | 2016:H1 | 2. Official | 4371 | 1923 |
| Upper center | 2016:H2 | 2. Official | 4116 | 2120 |
| Upper center | 2017:H1 | 2. Official | 4261 | 2092 |
| Upper center | 2017:H2 | 2. Official | 4413 | 2149 |
| Upper center | 2018:H1 | 2. Official | 4386 | 2059 |
| Upper center | 2018:H2 | 2. Official | 4419 | 2149 |
| Upper center | 2019:H1 | 2. Official | 4685 | 2236 |
| Upper center | 2019:H2 | 2. Official | 4655 | 2311 |
| Upper center | 2020:H1 | 2. Official | 4648 | 2255 |
| Upper center | 2020:H2 | 2. Official | 4691 | 2401 |
| Upper center | 2021:H1 | 2. Official | 4774 | 2324 |
| Upper center | 2021:H2 | 2. Official | 4678 | 2348 |
| Upper center | 2022:H1 | 2. Official | 4427 | 2134 |
| Upper center | 2022:H2 | 2. Official | 4219 | 2062 |
| Upper center | 2023:H1 | 2. Official | 4374 | 2079 |
| Upper center | 2023:H2 | 2. Official | 4395 | 2019 |
| Upper center | 2024:H1 | 2. Official | 4374 | 2095 |
| Upper center | 2024:H2 | 2. Official | 4287 | 2041 |
Upper Right Chart
Billions of dollars
| Panel | Date | Sector | TIC Long-term debt | PIP US Long-term debt |
|---|---|---|---|---|
| Upper right | 2012:H2 | 3. Private | 4375 | 5587 |
| Upper right | 2013:H1 | 3. Private | 4303 | 4841 |
| Upper right | 2013:H2 | 3. Private | 4594 | 5548 |
| Upper right | 2014:H1 | 3. Private | 4902 | 4806 |
| Upper right | 2014:H2 | 3. Private | 5011 | 5536 |
| Upper right | 2015:H1 | 3. Private | 5135 | 5143 |
| Upper right | 2015:H2 | 3. Private | 5145 | 6523 |
| Upper right | 2016:H1 | 3. Private | 5710 | 5908 |
| Upper right | 2016:H2 | 3. Private | 5770 | 7264 |
| Upper right | 2017:H1 | 3. Private | 6073 | 6751 |
| Upper right | 2017:H2 | 3. Private | 6131 | 7563 |
| Upper right | 2018:H1 | 3. Private | 5945 | 6854 |
| Upper right | 2018:H2 | 3. Private | 5939 | 7929 |
| Upper right | 2019:H1 | 3. Private | 6391 | 7799 |
| Upper right | 2019:H2 | 3. Private | 6819 | 8712 |
| Upper right | 2020:H1 | 3. Private | 6970 | 8274 |
| Upper right | 2020:H2 | 3. Private | 7144 | 9524 |
| Upper right | 2021:H1 | 3. Private | 7774 | 8837 |
| Upper right | 2021:H2 | 3. Private | 7956 | 9270 |
| Upper right | 2022:H1 | 3. Private | 7303 | 7701 |
| Upper right | 2022:H2 | 3. Private | 7013 | 8763 |
| Upper right | 2023:H1 | 3. Private | 7480 | 8207 |
| Upper right | 2023:H2 | 3. Private | 8166 | 10009 |
| Upper right | 2024:H1 | 3. Private | 8534 | 9413 |
| Upper right | 2024:H2 | 3. Private | 8974 | 11109 |
Lower Left Chart
Billions of dollars
| Panel | Date | Sector | TIC equity | PIP US equity |
|---|---|---|---|---|
| Lower left | 2012:H2 | 1. Total | 4566 | 2798 |
| Lower left | 2013:H1 | 1. Total | 5124 | 2576 |
| Lower left | 2013:H2 | 1. Total | 5882 | 3671 |
| Lower left | 2014:H1 | 1. Total | 6325 | 3329 |
| Lower left | 2014:H2 | 1. Total | 6677 | 4181 |
| Lower left | 2015:H1 | 1. Total | 6683 | 3739 |
| Lower left | 2015:H2 | 1. Total | 6224 | 4732 |
| Lower left | 2016:H1 | 1. Total | 6192 | 3883 |
| Lower left | 2016:H2 | 1. Total | 6576 | 5057 |
| Lower left | 2017:H1 | 1. Total | 7208 | 5150 |
| Lower left | 2017:H2 | 1. Total | 7958 | 6401 |
| Lower left | 2018:H1 | 1. Total | 8178 | 6053 |
| Lower left | 2018:H2 | 1. Total | 7573 | 5906 |
| Lower left | 2019:H1 | 1. Total | 8416 | 6144 |
| Lower left | 2019:H2 | 1. Total | 9026 | 7166 |
| Lower left | 2020:H1 | 1. Total | 9081 | 6609 |
| Lower left | 2020:H2 | 1. Total | 11519 | 9456 |
| Lower left | 2021:H1 | 1. Total | 13628 | 10011 |
| Lower left | 2021:H2 | 1. Total | 15174 | 11885 |
| Lower left | 2022:H1 | 1. Total | 12152 | 8930 |
| Lower left | 2022:H2 | 1. Total | 12017 | 9570 |
| Lower left | 2023:H1 | 1. Total | 13675 | 9521 |
| Lower left | 2023:H2 | 1. Total | 14758 | 12630 |
| Lower left | 2024:H1 | 1. Total | 16659 | 12957 |
| Lower left | 2024:H2 | 1. Total | 18364 | 15222 |
Lower Center Chart
Billions of dollars
| Panel | Date | Sector | TIC equity | PIP US equity |
|---|---|---|---|---|
| Lower center | 2012:H2 | 2. Official | 702 | 50 |
| Lower center | 2013:H1 | 2. Official | 806 | 59 |
| Lower center | 2013:H2 | 2. Official | 896 | 67 |
| Lower center | 2014:H1 | 2. Official | 952 | 79 |
| Lower center | 2014:H2 | 2. Official | 978 | 76 |
| Lower center | 2015:H1 | 2. Official | 966 | 85 |
| Lower center | 2015:H2 | 2. Official | 817 | 96 |
| Lower center | 2016:H1 | 2. Official | 821 | 100 |
| Lower center | 2016:H2 | 2. Official | 881 | 122 |
| Lower center | 2017:H1 | 2. Official | 954 | 152 |
| Lower center | 2017:H2 | 2. Official | 1042 | 164 |
| Lower center | 2018:H1 | 2. Official | 1047 | 161 |
| Lower center | 2018:H2 | 2. Official | 914 | 138 |
| Lower center | 2019:H1 | 2. Official | 1097 | 165 |
| Lower center | 2019:H2 | 2. Official | 1216 | 176 |
| Lower center | 2020:H1 | 2. Official | 1247 | 198 |
| Lower center | 2020:H2 | 2. Official | 1537 | 222 |
| Lower center | 2021:H1 | 2. Official | 1444 | 255 |
| Lower center | 2021:H2 | 2. Official | 1621 | 284 |
| Lower center | 2022:H1 | 2. Official | 1299 | 243 |
| Lower center | 2022:H2 | 2. Official | 1353 | 236 |
| Lower center | 2023:H1 | 2. Official | 1570 | 255 |
| Lower center | 2023:H2 | 2. Official | 1726 | 248 |
| Lower center | 2024:H1 | 2. Official | 1951 | 262 |
| Lower center | 2024:H2 | 2. Official | 2125 | 274 |
Lower Right Chart
Billions of dollars
| Panel | Date | Sector | TIC equity | PIP US equity |
|---|---|---|---|---|
| Lower right | 2012:H2 | 3. Private | 3864 | 2747 |
| Lower right | 2013:H1 | 3. Private | 4318 | 2517 |
| Lower right | 2013:H2 | 3. Private | 4987 | 3605 |
| Lower right | 2014:H1 | 3. Private | 5373 | 3250 |
| Lower right | 2014:H2 | 3. Private | 5699 | 4106 |
| Lower right | 2015:H1 | 3. Private | 5717 | 3654 |
| Lower right | 2015:H2 | 3. Private | 5407 | 4636 |
| Lower right | 2016:H1 | 3. Private | 5370 | 3783 |
| Lower right | 2016:H2 | 3. Private | 5696 | 4935 |
| Lower right | 2017:H1 | 3. Private | 6254 | 4998 |
| Lower right | 2017:H2 | 3. Private | 6916 | 6237 |
| Lower right | 2018:H1 | 3. Private | 7131 | 5892 |
| Lower right | 2018:H2 | 3. Private | 6659 | 5768 |
| Lower right | 2019:H1 | 3. Private | 7320 | 5979 |
| Lower right | 2019:H2 | 3. Private | 7810 | 6989 |
| Lower right | 2020:H1 | 3. Private | 7833 | 6411 |
| Lower right | 2020:H2 | 3. Private | 9982 | 9234 |
| Lower right | 2021:H1 | 3. Private | 12183 | 9756 |
| Lower right | 2021:H2 | 3. Private | 13545 | 11600 |
| Lower right | 2022:H1 | 3. Private | 10845 | 8687 |
| Lower right | 2022:H2 | 3. Private | 10658 | 9334 |
| Lower right | 2023:H1 | 3. Private | 12104 | 9266 |
| Lower right | 2023:H2 | 3. Private | 13032 | 12381 |
| Lower right | 2024:H1 | 3. Private | 14708 | 12695 |
| Lower right | 2024:H2 | 3. Private | 16239 | 14949 |
Source: U.S. Treasury, TIC.
Figure 2: Foreign Holdings of U.S. Long-term Debt: TIC and IMF PIP by Country at End-2024
Billions of dollars
| Year | TIC country code | Country | Country label | TIC LT debt | PIP US LT debt |
|---|---|---|---|---|---|
| 2024 | 30104 | ARGENTINA | ARG | 5 | 14 |
| 2024 | 35254 | ARUBA | ABW | 2 | 0 |
| 2024 | 60089 | AUSTRALIA | AUS | 112 | 110 |
| 2024 | 10189 | AUSTRIA | AUT | 8 | 17 |
| 2024 | 35319 | BAHAMAS | BHS | 19 | 14 |
| 2024 | 10251 | BELGIUM | BEL | 936 | 22 |
| 2024 | 35602 | BERMUDA | BMU | 254 | 680 |
| 2024 | 30309 | BRAZIL | BRA | 203 | 2 |
| 2024 | 29998 | CANADA | CAN | 747 | 488 |
| 2024 | 36137 | CAYMAN_I | CYM | 822 | 2168 |
| 2024 | 30406 | CHILE | CHL | 37 | 11 |
| 2024 | 41408 | CHINA | CHN | 934 | 166 |
| 2024 | 30503 | COLOMBIA | COL | 55 | 12 |
| 2024 | 30589 | COSTA_RICA | CRI | 4 | 2 |
| 2024 | 10405 | CYPRUS | CYP | 1 | 2 |
| 2024 | 10502 | DENMARK | DNK | 32 | 34 |
| 2024 | 57002 | EGYPT | EGY | 0 | 1 |
| 2024 | 10707 | FINLAND | FIN | 11 | 0 |
| 2024 | 10804 | FRANCE | FRA | 407 | 396 |
| 2024 | 11002 | GERMANY | DEU | 203 | 303 |
| 2024 | 11207 | GREECE | GRC | 3 | 3 |
| 2024 | 13006 | GUERNSEY | GGY | 19 | 14 |
| 2024 | 42005 | HONGKONG | HKG | 303 | 252 |
| 2024 | 15504 | HUNGARY | HUN | 4 | 1 |
| 2024 | 42102 | INDIA | IND | 214 | 0 |
| 2024 | 42218 | INDONESIA | IDN | 39 | 1 |
| 2024 | 11401 | IRELAND | IRL | 541 | 656 |
| 2024 | 42501 | ISRAEL | ISR | 93 | 62 |
| 2024 | 11509 | ITALY | ITA | 79 | 113 |
| 2024 | 42609 | JAPAN | JPN | 1516 | 1113 |
| 2024 | 13007 | JERSEY | JEY | 8 | 33 |
| 2024 | 16543 | KAZAKHSTAN | KAZ | 6 | 22 |
| 2024 | 43109 | KUWAIT | KWT | 90 | 1 |
| 2024 | 43419 | LEBANON | LBN | 0 | 1 |
| 2024 | 11703 | LUXEMBOURG | LUX | 1091 | 622 |
| 2024 | 43605 | MALAYSIA | MYS | 33 | 6 |
| 2024 | 53805 | MAURITIUS | MUS | 3 | 6 |
| 2024 | 31704 | MEXICO | MEX | 105 | 7 |
| 2024 | 61689 | N_ZEALAND | NZL | 14 | 0 |
| 2024 | 12106 | NETHERLANDS | NLD | 170 | 173 |
| 2024 | 12203 | NORWAY | NOR | 237 | 221 |
| 2024 | 31887 | PANAMA | PAN | 21 | 17 |
| 2024 | 44806 | PHILIPPINES | PHL | 61 | 6 |
| 2024 | 15768 | POLAND | POL | 46 | 4 |
| 2024 | 12319 | PORTUGAL | PRT | 6 | 12 |
| 2024 | 15806 | ROMANIA | ROU | 12 | 1 |
| 2024 | 55719 | S_AFRICA | ZAF | 14 | 5 |
| 2024 | 45608 | S_ARABIA | SAU | 134 | 31 |
| 2024 | 43001 | S_KOREA | KOR | 203 | 121 |
| 2024 | 46019 | SINGAPORE | SGP | 339 | 311 |
| 2024 | 12505 | SPAIN | ESP | 70 | 48 |
| 2024 | 12602 | SWEDEN | SWE | 59 | 33 |
| 2024 | 12688 | SWITZERLAND | CHE | 364 | 195 |
| 2024 | 46418 | THAILAND | THA | 67 | 4 |
| 2024 | 12807 | TURKEY | TUR | 10 | 1 |
| 2024 | 13005 | UK | GBR | 1169 | 493 |
| 2024 | 16403 | UKRAINE | UKR | 17 | 1 |
Note. Country data points are labeled with their three-letter ISO codes.
Source: U.S. Treasury, IMF.
Figure 3: Foreign Holdings of U.S. Equity: TIC and IMF PIP by Country at End-2024
Billions of dollars
| Year | TIC country code | Country | Country label | TIC equity | PIP US equity |
|---|---|---|---|---|---|
| 2024 | 57002 | EGYPT | EGY | 1 | 0 |
| 2024 | 42218 | INDONESIA | IDN | 2 | 0 |
| 2024 | 16403 | UKRAINE | UKR | 0 | 0 |
| 2024 | 43419 | LEBANON | LBN | 0 | 0 |
| 2024 | 30589 | COSTA_RICA | CRI | 5 | 0 |
| 2024 | 35254 | ARUBA | ABW | 0 | 0 |
| 2024 | 35319 | BAHAMAS | BHS | 30 | 1 |
| 2024 | 44806 | PHILIPPINES | PHL | 3 | 1 |
| 2024 | 15806 | ROMANIA | ROU | 1 | 1 |
| 2024 | 31887 | PANAMA | PAN | 22 | 1 |
| 2024 | 12807 | TURKEY | TUR | 1 | 2 |
| 2024 | 11207 | GREECE | GRC | 3 | 2 |
| 2024 | 43109 | KUWAIT | KWT | 365 | 2 |
| 2024 | 10405 | CYPRUS | CYP | 8 | 3 |
| 2024 | 15504 | HUNGARY | HUN | 1 | 3 |
| 2024 | 42102 | INDIA | IND | 26 | 6 |
| 2024 | 15768 | POLAND | POL | 4 | 6 |
| 2024 | 53805 | MAURITIUS | MUS | 1 | 8 |
| 2024 | 12319 | PORTUGAL | PRT | 12 | 13 |
| 2024 | 46418 | THAILAND | THA | 26 | 15 |
| 2024 | 16543 | KAZAKHSTAN | KAZ | 0 | 21 |
| 2024 | 30309 | BRAZIL | BRA | 22 | 21 |
| 2024 | 55719 | S_AFRICA | ZAF | 27 | 31 |
| 2024 | 30104 | ARGENTINA | ARG | 10 | 33 |
| 2024 | 30503 | COLOMBIA | COL | 31 | 41 |
| 2024 | 13007 | JERSEY | JEY | 23 | 43 |
| 2024 | 43605 | MALAYSIA | MYS | 47 | 45 |
| 2024 | 10189 | AUSTRIA | AUT | 33 | 49 |
| 2024 | 31704 | MEXICO | MEX | 109 | 50 |
| 2024 | 30406 | CHILE | CHL | 44 | 53 |
| 2024 | 13006 | GUERNSEY | GGY | 67 | 58 |
| 2024 | 61689 | N_ZEALAND | NZL | 54 | 63 |
| 2024 | 35602 | BERMUDA | BMU | 144 | 70 |
| 2024 | 12505 | SPAIN | ESP | 69 | 72 |
| 2024 | 42005 | HONGKONG | HKG | 233 | 87 |
| 2024 | 10251 | BELGIUM | BEL | 130 | 91 |
| 2024 | 11509 | ITALY | ITA | 93 | 106 |
| 2024 | 42501 | ISRAEL | ISR | 168 | 113 |
| 2024 | 45608 | S_ARABIA | SAU | 212 | 118 |
| 2024 | 10707 | FINLAND | FIN | 76 | 125 |
| 2024 | 41408 | CHINA | CHN | 377 | 159 |
| 2024 | 10502 | DENMARK | DNK | 245 | 264 |
| 2024 | 12688 | SWITZERLAND | CHE | 888 | 334 |
| 2024 | 46019 | SINGAPORE | SGP | 659 | 365 |
| 2024 | 12602 | SWEDEN | SWE | 383 | 371 |
| 2024 | 10804 | FRANCE | FRA | 553 | 381 |
| 2024 | 43001 | S_KOREA | KOR | 533 | 503 |
| 2024 | 11002 | GERMANY | DEU | 547 | 517 |
| 2024 | 12106 | NETHERLANDS | NLD | 403 | 550 |
| 2024 | 60089 | AUSTRALIA | AUS | 669 | 554 |
| 2024 | 12203 | NORWAY | NOR | 774 | 645 |
| 2024 | 13005 | UK | GBR | 1868 | 978 |
| 2024 | 42609 | JAPAN | JPN | 1062 | 1061 |
| 2024 | 11703 | LUXEMBOURG | LUX | 1289 | 1316 |
| 2024 | 11401 | IRELAND | IRL | 1346 | 1523 |
| 2024 | 29998 | CANADA | CAN | 1957 | 1625 |
| 2024 | 36137 | CAYMAN_I | CYM | 1970 | 2130 |
Note. Country data points are labeled with their three-letter ISO codes.
Source: U.S. Treasury, IMF.
Last Update:
February 13, 2026