Financial Accounts of the United States - Z.1
L.107 State and Local Governments
Billions of dollars; amounts outstanding end of period, not seasonally adjusted| Description | Series code | 2021 | 2022 | 2023 | 2024 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| State and local governments; total financial assets | FL214090005 | 4452.2 | 4561.6 | 4851.0 | 5133.3 | 4894.2 | 4970.7 | 5161.0 | 5133.3 | 5226.9 | 1 |
| State and local governments; checkable deposits and currency; asset | FL213020005 | 345.7 | 360.4 | 375.6 | 390.7 | 379.2 | 368.2 | 367.1 | 390.7 | 394.1 | 2 |
| State and local governments; total time and savings deposits; asset | FL213030000 | 382.9 | 370.5 | 374.3 | 374.1 | 373.1 | 371.1 | 368.5 | 374.1 | 367.8 | 3 |
| State and local governments; money market fund shares; asset | FL213034003 | 55.5 | 65.3 | 72.0 | 81.9 | 72.5 | 73.6 | 77.1 | 81.9 | 83.4 | 4 |
| State and local governments; security repurchase agreements; asset | FL212051003 | 201.0 | 200.6 | 219.8 | 237.5 | 223.0 | 228.9 | 241.6 | 237.5 | 242.7 | 5 |
| State and local governments; debt securities; asset | LM214022005 | 2230.9 | 2282.4 | 2495.6 | 2670.7 | 2528.3 | 2584.6 | 2718.8 | 2670.7 | 2753.5 | 6 |
| State and local governments; commercial paper; asset | FL213069103 | 228.2 | 261.1 | 265.9 | 263.6 | 268.5 | 264.9 | 270.3 | 263.6 | 294.0 | 7 |
| State and local governments; Treasury securities, excluding SLGS; asset | LM213061103 | 1265.5 | 1303.5 | 1452.1 | 1579.1 | 1482.5 | 1521.8 | 1606.3 | 1579.1 | 1613.5 | 8 |
| State and local governments; agency- and GSE-backed securities; asset | LM213061703 | 403.9 | 394.2 | 426.0 | 457.5 | 429.5 | 440.8 | 465.3 | 457.5 | 467.4 | 9 |
| State and local governments; municipal securities; asset | LM213062003 | 40.8 | 40.9 | 45.6 | 49.3 | 46.3 | 47.5 | 50.1 | 49.3 | 50.4 | 10 |
| State and local governments; corporate and foreign bonds; asset | LM213063003 | 292.5 | 282.7 | 306.0 | 321.2 | 301.6 | 309.5 | 326.7 | 321.2 | 328.2 | 11 |
| State and local governments; loans; asset | FL214023005 | 370.0 | 359.3 | 319.9 | 332.3 | 321.1 | 329.3 | 343.3 | 332.3 | 321.5 | 12 |
| State and local governments; total mortgages; asset | FL213065005 | 260.3 | 259.4 | 228.4 | 233.7 | 229.7 | 231.0 | 232.3 | 233.7 | 235.0 | 13 |
| State and local governments; State and local government series securities (MSPD); asset (1) | FL213069200 | 109.7 | 99.9 | 91.5 | 98.6 | 91.4 | 98.3 | 110.9 | 98.6 | 86.5 | 14 |
| State and local governments; corporate equities; asset | LM213064103 | 121.5 | 121.7 | 135.7 | 146.8 | 137.8 | 141.5 | 149.3 | 146.8 | 150.0 | 15 |
| State and local governments; mutual fund shares; asset | LM213064203 | 58.3 | 58.4 | 65.1 | 70.5 | 66.1 | 67.9 | 71.7 | 70.5 | 72.0 | 16 |
| State and local governments; trade receivables; asset | FL213070003 | 275.5 | 309.9 | 329.5 | 337.6 | 321.4 | 327.1 | 332.1 | 337.6 | 342.8 | 17 |
| State and local governments; taxes receivable; asset | FL213078005 | 237.8 | 279.0 | 288.7 | 298.7 | 290.8 | 292.9 | 295.6 | 298.7 | 302.2 | 18 |
| State and local governments; unidentified miscellaneous assets | FL213093003 | 172.9 | 154.0 | 174.8 | 192.7 | 180.9 | 185.7 | 196.0 | 192.7 | 196.9 | 19 |
| State and local governments; total liabilities | FL214190005 | 8036.8 | 7780.5 | 7766.4 | 7693.1 | 7633.2 | 7677.8 | 7547.7 | 7693.1 | 7876.7 | 20 |
| State and local governments; municipal securities; liability | FL213162005 | 3279.5 | 3228.8 | 3251.2 | 3348.6 | 3268.7 | 3304.6 | 3335.4 | 3348.6 | 3375.8 | 21 |
| State and local governments; short-term municipal securities; liability (2) | FL213162400 | 32.9 | 25.4 | 26.9 | 34.4 | 27.8 | 26.8 | 32.2 | 34.4 | 32.1 | 22 |
| State and local governments; long-term municipal securities; liability | FL213162200 | 3246.6 | 3203.4 | 3224.3 | 3314.2 | 3240.9 | 3277.8 | 3303.3 | 3314.2 | 3343.7 | 23 |
| State and local governments; U.S. government loans; liability | FL213169203 | 22.6 | 23.3 | 24.3 | 25.5 | 24.6 | 24.9 | 25.0 | 25.5 | 25.8 | 24 |
| State and local governments; trade payables; liability | FL213170003 | 1163.3 | 1229.0 | 1297.3 | 1369.3 | 1315.1 | 1333.0 | 1351.1 | 1369.3 | 1387.8 | 25 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (3) | FL223073045 | 3571.3 | 3299.3 | 3193.6 | 2949.7 | 3024.7 | 3015.4 | 2836.2 | 2949.7 | 3087.3 | 26 |
NOTES
- State and Local Government Series (SLGS) nonmarketable Treasury securities classified as loans.
- Debt with original maturity of 13 months or less.
- Included in miscellaneous liabilities.
Last Update: June 12, 2025