Financial Accounts of the United States - Z.1
L.208 Debt Securities (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted| Description | Series code | 2018 | 2019 | 2020 | 2021 | 2021 Q1 | 2021 Q2 | 2021 Q3 | 2021 Q4 | 2022 Q1 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| All sectors; total debt securities; liability | FL894122005 | 44402.9 | 46624.1 | 53019.9 | 56139.7 | 53725.2 | 54503.2 | 54851.5 | 56139.7 | 57211.4 | 1 |
| All sectors; open market paper; liability | FL893169175 | 996.0 | 1045.2 | 986.9 | 1014.2 | 1105.2 | 1085.4 | 1071.4 | 1014.2 | 1102.0 | 2 |
| Federal government; Treasury securities; liability | FL313161105 | 17842.1 | 19018.7 | 23600.9 | 25284.7 | 23943.0 | 24301.5 | 24249.9 | 25284.7 | 26016.5 | 3 |
| All sectors; U.S. government agency securities; liability | FL893161705 | 9112.6 | 9429.5 | 10086.7 | 10699.1 | 10226.4 | 10407.5 | 10535.9 | 10699.1 | 10926.8 | 4 |
| Domestic nonfinancial sectors; municipal securities; liability | FL383162005 | 3894.0 | 3904.1 | 3988.2 | 4064.3 | 4014.7 | 4037.9 | 4055.0 | 4064.3 | 4041.3 | 5 |
| All sectors; corporate and foreign bonds; liability | FL893163005 | 12558.2 | 13226.6 | 14357.4 | 15077.4 | 14435.9 | 14670.8 | 14939.3 | 15077.4 | 15124.8 | 6 |
| All sectors; total debt securities; liability | FL894122005 | 44402.9 | 46624.1 | 53019.9 | 56139.7 | 53725.2 | 54503.2 | 54851.5 | 56139.7 | 57211.4 | 7 |
| Domestic nonfinancial sectors; debt securities; liability | FL384122005 | 27512.6 | 28951.1 | 34240.4 | 36184.8 | 34741.3 | 35133.3 | 35162.4 | 36184.8 | 36982.3 | 8 |
| Nonprofit organizations; municipal securities; liability (2) | FL163162003 | 214.9 | 212.0 | 202.0 | 200.3 | 202.6 | 202.5 | 201.3 | 200.3 | 202.3 | 9 |
| Nonfinancial corporate business; debt securities; liability | FL104122005 | 6333.0 | 6602.6 | 7232.0 | 7427.8 | 7366.0 | 7381.1 | 7447.4 | 7427.8 | 7520.8 | 10 |
| Federal government; debt securities; liability | FL314122005 | 17865.0 | 19039.9 | 23621.1 | 25304.5 | 23962.8 | 24321.4 | 24269.4 | 25304.5 | 26035.9 | 11 |
| State and local governments; municipal securities; liability | FL213162005 | 3099.8 | 3096.6 | 3185.3 | 3252.3 | 3209.9 | 3228.4 | 3244.3 | 3252.3 | 3223.3 | 12 |
| Domestic financial sectors; debt securities; liability | FL794122005 | 13484.2 | 13872.6 | 14769.4 | 15609.0 | 14950.3 | 15251.8 | 15351.6 | 15609.0 | 15942.0 | 13 |
| U.S.-chartered depository institutions; debt securities; liability | FL764122005 | 247.5 | 209.7 | 271.0 | 229.3 | 283.8 | 283.0 | 239.0 | 229.3 | 213.5 | 14 |
| Foreign banking offices in the U.S.; open market paper; liability | FL753169175 | 40.8 | 38.5 | 35.9 | 35.7 | 40.7 | 42.0 | 33.5 | 35.7 | 40.4 | 15 |
| Government-sponsored enterprises; GSE issues; liability | FL403161705 | 6797.3 | 7002.2 | 7638.1 | 8177.6 | 7775.1 | 7928.1 | 8041.7 | 8177.6 | 8372.6 | 16 |
| Agency-and GSE-backed mortgage pools; total mortgages; asset | FL413065005 | 2292.3 | 2406.0 | 2428.3 | 2501.8 | 2431.4 | 2459.6 | 2474.7 | 2501.8 | 2534.7 | 17 |
| Issuers of asset-backed securities; debt securities; liability | FL674122005 | 1120.4 | 1171.8 | 1217.0 | 1361.1 | 1222.0 | 1247.2 | 1295.3 | 1361.1 | 1400.3 | 18 |
| Finance companies; debt securities; liability | FL614122005 | 879.2 | 835.4 | 815.2 | 770.2 | 795.0 | 799.0 | 761.7 | 770.2 | 771.9 | 19 |
| Real estate investment trusts; debt securities; liability | FL644122005 | 470.0 | 539.3 | 581.9 | 634.0 | 588.7 | 614.4 | 616.0 | 634.0 | 643.0 | 20 |
| Security brokers and dealers; corporate and foreign bonds; liability | FL663163003 | 184.0 | 173.9 | 183.9 | 217.7 | 196.3 | 204.5 | 214.6 | 217.7 | 260.8 | 21 |
| Holding companies; debt securities; liability | FL734122005 | 1301.3 | 1350.0 | 1479.9 | 1544.9 | 1442.2 | 1524.8 | 1517.7 | 1544.9 | 1531.1 | 22 |
| Other financial business; debt securities; liability | FL504122005 | 151.4 | 145.7 | 118.2 | 136.8 | 174.9 | 149.3 | 157.5 | 136.8 | 173.4 | 23 |
| Rest of the world; debt securities, excluding negotiable certificates of deposit; liability | LM264122005 | 3406.1 | 3800.4 | 4010.1 | 4345.8 | 4033.6 | 4118.0 | 4337.5 | 4345.8 | 4287.1 | 24 |
| All sectors; total debt securities; asset | FL894022005 | 43659.1 | 47717.6 | 55629.2 | 57196.8 | 54894.6 | 56207.2 | 56325.8 | 57196.8 | 55561.3 | 25 |
| Domestic nonfinancial sectors; debt securities; asset | FL384022005 | 6116.1 | 6575.0 | 6564.4 | 5335.4 | 5887.9 | 5581.8 | 5739.4 | 5335.4 | 5506.2 | 26 |
| Households and nonprofit organizations; debt securities; asset | LM154022005 | 4251.4 | 4533.4 | 4222.1 | 2719.9 | 3627.3 | 3064.7 | 3181.2 | 2719.9 | 2961.0 | 27 |
| Nonfinancial corporate business; debt securities; asset | LM104022005 | 253.2 | 326.6 | 361.4 | 356.9 | 328.7 | 367.6 | 346.2 | 356.9 | 324.1 | 28 |
| Nonfinancial noncorporate business; debt securities; asset | LM114022005 | 75.8 | 75.9 | 82.3 | 80.8 | 79.8 | 80.0 | 79.3 | 80.8 | 76.8 | 29 |
| Federal government; debt securities; asset | FL314022005 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 30 |
| State and local governments; debt securities; asset | LM214022005 | 1535.2 | 1638.6 | 1898.1 | 2177.4 | 1851.6 | 2069.0 | 2132.3 | 2177.4 | 2143.8 | 31 |
| Domestic financial sectors; debt securities; asset | FL794022005 | 26356.9 | 28896.3 | 36158.8 | 38182.2 | 36322.3 | 37174.4 | 37057.8 | 38182.2 | 36844.6 | 32 |
| Monetary authority; debt securities; asset | LM714022005 | 3982.6 | 4011.9 | 7422.2 | 8733.2 | 7548.3 | 8010.8 | 8412.3 | 8733.2 | 8470.4 | 33 |
| U.S.-chartered depository institutions; debt securities; asset | LM764022005 | 3788.2 | 4119.5 | 5202.1 | 6318.7 | 5568.0 | 5825.0 | 6055.2 | 6318.7 | 6242.1 | 34 |
| Foreign banking offices in the U.S.; debt securities; asset | LM754022005 | 318.1 | 309.0 | 313.5 | 286.1 | 294.7 | 289.4 | 289.5 | 286.1 | 280.8 | 35 |
| Banks in U.S.-affiliated areas; debt securities; asset | LM744022003 | 19.5 | 33.6 | 41.3 | 47.5 | 43.8 | 42.4 | 47.3 | 47.5 | 47.8 | 36 |
| Credit unions; debt securities; asset | LM474022005 | 201.8 | 221.3 | 311.1 | 405.1 | 374.2 | 375.9 | 387.2 | 405.1 | 423.7 | 37 |
| Property-casualty insurance companies; debt securities; asset | LM514022005 | 1118.6 | 1192.8 | 1270.2 | 1320.1 | 1249.7 | 1308.4 | 1311.6 | 1320.1 | 1231.8 | 38 |
| Life insurance companies; debt securities; asset | LM544022005 | 3509.2 | 4023.0 | 4431.5 | 4452.3 | 4248.0 | 4368.8 | 4412.7 | 4452.3 | 4170.9 | 39 |
| Private pension funds; debt securities; asset | LM574022005 | 1416.1 | 1565.8 | 1695.6 | 1636.0 | 1603.0 | 1640.7 | 1638.6 | 1636.0 | 1547.8 | 40 |
| Federal government retirement funds; debt securities; asset | LM344022005 | 2061.7 | 2177.4 | 2326.6 | 2483.6 | 2317.7 | 2332.6 | 2140.4 | 2483.6 | 2512.1 | 41 |
| State and local government employee defined benefit retirement funds retirement funds; debt securities; asset | LM224022045 | 975.6 | 954.9 | 1074.6 | 1209.1 | 1082.3 | 1171.2 | 1173.6 | 1209.1 | 1172.5 | 42 |
| Money market funds; debt securities; asset | FL634022005 | 2024.2 | 2436.5 | 3525.2 | 2568.8 | 3606.1 | 3185.2 | 2534.5 | 2568.8 | 2514.9 | 43 |
| Mutual funds; debt securities; asset (market value) | LM654022005 | 4441.9 | 5095.5 | 5542.9 | 5903.4 | 5590.4 | 5767.0 | 5866.0 | 5903.4 | 5425.9 | 44 |
| Closed-end funds; debt securities; asset | LM554022005 | 161.0 | 171.5 | 175.7 | 186.8 | 178.2 | 183.0 | 185.9 | 186.8 | 173.4 | 45 |
| Exchange-traded funds; debt securities; asset | LM564022005 | 625.8 | 808.9 | 1041.5 | 1214.4 | 1057.7 | 1133.5 | 1173.0 | 1214.4 | 1175.3 | 46 |
| Government-sponsored enterprises; debt securities; asset | LM404022005 | 408.3 | 467.7 | 520.1 | 430.2 | 471.9 | 450.5 | 440.1 | 430.2 | 432.8 | 47 |
| Issuers of asset-backed securities; debt securities; asset | FL674022005 | 20.4 | 33.0 | 30.3 | 31.9 | 28.6 | 27.4 | 28.7 | 31.9 | 34.5 | 48 |
| Finance companies; corporate and foreign bonds; asset | LM613063003 | 55.3 | 60.0 | 73.6 | 98.7 | 69.7 | 77.6 | 83.8 | 98.7 | 94.9 | 49 |
| Real estate investment trusts; debt securities; asset | LM644022005 | 324.5 | 386.7 | 236.8 | 201.9 | 223.2 | 216.1 | 197.2 | 201.9 | 192.7 | 50 |
| Security brokers and dealers; debt securities; asset | LM664022005 | 478.9 | 450.6 | 390.7 | 200.1 | 189.0 | 218.3 | 206.5 | 200.1 | 141.7 | 51 |
| Holding companies; long-term debt securities; asset | LM734022605 | 92.2 | 126.8 | 122.4 | 146.4 | 145.5 | 144.1 | 139.1 | 146.4 | 148.9 | 52 |
| Other financial business; debt securities; asset | FL504022005 | 333.1 | 250.1 | 410.8 | 308.0 | 432.2 | 406.4 | 334.6 | 308.0 | 409.6 | 53 |
| Rest of the world; debt securities, excluding negotiable certificates of deposit; asset | LM264022005 | 11186.0 | 12246.3 | 12906.1 | 13679.1 | 12684.4 | 13451.0 | 13528.7 | 13679.1 | 13210.5 | 54 |
| Instrument discrepancies; debt securities (level) (3) | LM904022005 | 743.8 | -1093.5 | -2609.3 | -1057.1 | -1169.4 | -1704.0 | -1474.3 | -1057.1 | 1650.1 | 55 |
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: June 9, 2022