Financial Accounts of the United States - Z.1
F.209 Open Market Paper
Billions of dollars; quarterly figures are seasonally adjusted annual rates| Description | Series code | 2021 | 2022 | 2023 | 2024 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| All sectors; open market paper; liability | FA893169175 | 27.3 | 151.9 | 15.8 | -8.2 | 41.1 | -52.7 | 82.9 | -104.1 | 357.4 | 1 |
| All sectors; commercial paper; liability | FA893169105 | 27.3 | 151.9 | 15.8 | -8.2 | 41.1 | -52.7 | 82.9 | -104.1 | 357.4 | 2 |
| Nonfinancial corporate business; commercial paper; liability | FA103169100 | 6.0 | 59.3 | 20.4 | -21.6 | 82.6 | -18.5 | -166.3 | 15.6 | 145.9 | 3 |
| Rest of the world; commercial paper; liability | FA263169105 | 105.0 | -89.9 | -18.3 | -20.9 | -24.1 | -14.6 | 36.4 | -81.4 | 113.5 | 4 |
| Rest of the world; commercial paper issued by nonfinancial firms; liability | FA263169110 | 12.6 | -9.0 | -8.8 | -1.4 | 22.5 | 16.7 | -23.6 | -21.1 | 57.0 | 5 |
| Rest of the world; commercial paper issued by financial firms; liability | FA263169123 | 92.4 | -80.8 | -9.5 | -19.5 | -46.6 | -31.3 | 60.0 | -60.2 | 56.5 | 6 |
| Domestic financial sectors; commercial paper; liability | FA793169100 | -83.8 | 182.5 | 13.8 | 34.4 | -17.4 | -19.6 | 212.8 | -38.3 | 98.0 | 7 |
| U.S.-chartered depository institutions; asset-backed commercial paper; liability | FA763169103 | -60.3 | 66.6 | 4.3 | -13.7 | -12.4 | -6.3 | 26.4 | -62.3 | 46.0 | 8 |
| Foreign banking offices in the U.S.; asset-backed commercial paper; liability | FA753169103 | -11.5 | 53.0 | 41.3 | 26.6 | 21.8 | 23.1 | 37.4 | 24.1 | -37.6 | 9 |
| Issuers of asset-backed securities; commercial paper, excluding U.S.-chartered commercial banks' asset-backed commercial paper; liability | FA673169105 | -32.9 | 55.8 | -56.4 | 36.8 | 11.2 | -20.7 | 108.6 | 48.0 | 38.0 | 10 |
| Finance companies; commercial paper; liability | FA613169100 | -0.4 | 8.9 | 10.7 | -9.1 | -65.8 | 23.6 | -20.3 | 25.9 | -11.7 | 11 |
| Mortgage real estate investment trusts; commercial paper; liability | FA643169173 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 12 |
| Holding companies; commercial paper; liability | FA733169103 | 3.0 | 1.4 | 3.1 | -5.6 | -5.1 | -6.6 | -14.2 | 3.4 | 6.7 | 13 |
| Other financial business; commercial paper; liability | FA503169105 | 18.4 | -3.2 | 10.8 | -0.6 | 32.9 | -32.7 | 74.9 | -77.4 | 56.8 | 14 |
| Private depository institutions; bankers' acceptances; liability (1) | FA703169605 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 15 |
| U.S.-chartered depository institutions; bankers' acceptances; liability | FA763169603 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 16 |
| Foreign banking offices in the U.S.; bankers' acceptances; liability | FA753169603 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 17 |
| All sectors; open market paper; liability | FA893169175 | 27.3 | 151.9 | 15.8 | -8.2 | 41.1 | -52.7 | 82.9 | -104.1 | 357.4 | 18 |
| Nonfinancial corporate business; commercial paper; asset | FA103069100 | 5.4 | -39.4 | -7.0 | -4.0 | 62.1 | 53.8 | -61.2 | -70.6 | 75.7 | 19 |
| State and local governments; commercial paper; asset | FA213069103 | 27.4 | 33.0 | 4.8 | -2.3 | 10.2 | -14.1 | 21.4 | -26.7 | 121.6 | 20 |
| Monetary authority; bankers' acceptances; asset | FA713069603 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 21 |
| U.S.-chartered depository institutions; open market paper; asset (1) | FA763069175 | -2.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 22 |
| Foreign banking offices in the U.S.; bankers' acceptances; asset (1) | FA753069603 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 23 |
| Credit unions; commercial paper held by Corporate Credit Unions; asset | FA473069153 | -0.1 | -0.2 | -0.1 | 0.1 | 0.0 | 0.4 | 0.2 | -0.3 | 0.0 | 24 |
| Property-casualty insurance companies; commercial paper, including those held by U.S. residual market reinsurers; asset | FA513069105 | -4.4 | -0.2 | 2.1 | -1.0 | 2.5 | 8.8 | 0.2 | -15.4 | 1.0 | 25 |
| Life insurance companies; commercial paper; asset | FA543069105 | 7.1 | -16.1 | 5.2 | 5.7 | -1.4 | -3.3 | 17.5 | 9.9 | 2.3 | 26 |
| Private pension funds; total commercial paper; asset | FA573069105 | 1.2 | -6.8 | -3.5 | -3.5 | -2.2 | -2.2 | -4.9 | -4.7 | -4.2 | 27 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FA223069143 | 11.7 | -9.3 | 0.4 | 0.6 | 9.0 | -1.3 | -11.7 | 6.4 | 0.6 | 28 |
| Money market funds; open market paper; asset | FA633069175 | -6.0 | 27.6 | 48.0 | -2.4 | -16.4 | -166.3 | 61.9 | 111.1 | 30.6 | 29 |
| Mutual funds; commercial paper; asset | FA653069100 | -10.4 | 0.3 | -0.8 | -4.3 | 7.2 | -21.3 | 32.1 | -35.4 | -1.7 | 30 |
| Government-sponsored enterprises; commercial paper; asset | FA403069105 | -2.6 | 5.5 | 1.4 | -2.8 | -1.4 | -5.9 | 2.8 | -6.7 | -1.1 | 31 |
| Security brokers and dealers; commercial paper (net); asset | FA663069105 | 8.4 | 2.7 | 0.6 | 12.4 | 21.0 | -6.5 | 57.8 | -22.9 | 3.2 | 32 |
| Other financial business; commercial paper; asset | FA503069105 | -10.3 | 101.0 | -59.0 | -22.5 | -29.5 | 74.0 | -67.5 | -66.9 | 111.4 | 33 |
| Rest of the world; commercial paper; asset | FA263069103 | 1.9 | 53.8 | 23.9 | 15.9 | -20.1 | 31.2 | 34.3 | 18.3 | 18.0 | 34 |
NOTES
- Excludes banks' holdings of own acceptances.
Last Update: June 12, 2025