Board of Governors of the Federal Reserve System

Millions of dollars

Type of issue or issuer, or use		2023	2024	2025	May 2025	Jun 2025	Jul 2025	Aug 2025	Sep 2025	Oct 2025	Nov 2025	Dec 2025
1	All issues, new and refunding 1	1,445,909	2,118,587	2,575,437	227,980	190,992	195,196	176,524	308,853	242,505	268,883	123,874
2	Bonds 2	1,392,684	1,967,965	2,393,619	216,701	173,908	176,557	167,589	292,190	224,452	250,474	93,202
	By type of offering
3	Sold in the United States	1,371,736	1,944,672	2,331,565	208,450	165,670	170,972	164,235	282,700	220,171	243,096	90,149
4	Sold abroad	20,948	23,292	62,054	8,251	8,238	5,585	3,354	9,490	4,281	7,378	3,053
	MEMO
5	Private placements, domestic	75,335	95,172	48,409	6,710	7,910	3,194	100	1,395	1,392	1,657	4,050
	By industry group
6	Nonfinancial	635,167	847,379	1,031,185	84,045	70,154	51,809	77,824	148,259	82,995	132,168	39,062
7	Financial	757,517	1,120,586	1,362,434	132,656	103,754	124,748	89,765	143,931	141,457	118,306	54,140
8	Stocks 3	64,068	152,169	197,048	11,279	17,085	18,639	8,945	16,698	18,069	27,056	34,517
	By industry group
9	Nonfinancial	44,563	94,573	119,771	6,048	9,089	7,278	5,921	10,617	10,516	22,395	24,638
10	Financial	19,506	57,596	77,277	5,231	7,996	11,361	3,025	6,080	7,553	4,661	9,880

1. Figures represent gross proceeds of issues maturing in more than one year; they are the principal amount or number of units calculated by multiplying by the offering price. Figures exclude secondary offerings, employee stock plans, investment companies other than closed-end, intracorporate transactions, Yankee bonds, and private placements listed. Stock data include ownership securities issued by limited partnerships.  Return to table
2. Monthly data include 144(a) offerings.  Return to table
3. Monthly data include public offerings.  Return to table