Financial Accounts of the United States - Z.1
L.209 Open Market Paper
Billions of dollars; amounts outstanding end of period, not seasonally adjusted| Description | Series code | 2022 | 2023 | 2024 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| All sectors; open market paper; liability | FL893169175 | 1203.7 | 1219.5 | 1218.7 | 1217.5 | 1242.1 | 1218.7 | 1325.8 | 1390.8 | 1339.3 | 1 |
| All sectors; commercial paper; liability | FL893169105 | 1203.7 | 1219.5 | 1218.7 | 1217.5 | 1242.1 | 1218.7 | 1325.8 | 1390.8 | 1339.3 | 2 |
| Nonfinancial corporate business; commercial paper; liability | FL103169100 | 197.6 | 218.0 | 196.3 | 211.9 | 192.0 | 196.3 | 235.9 | 253.9 | 227.7 | 3 |
| Rest of the world; commercial paper; liability | FL263169105 | 331.8 | 319.8 | 303.8 | 303.9 | 315.2 | 303.8 | 331.2 | 323.9 | 299.3 | 4 |
| Rest of the world; commercial paper issued by nonfinancial firms; liability | FL263169110 | 29.3 | 20.9 | 19.8 | 26.8 | 23.0 | 19.8 | 28.1 | 30.4 | 27.8 | 5 |
| Rest of the world; commercial paper issued by financial firms; liability | FL263169123 | 302.6 | 298.9 | 284.0 | 277.1 | 292.1 | 284.0 | 303.0 | 293.6 | 271.6 | 6 |
| Domestic financial sectors; commercial paper; liability | FL793169100 | 674.3 | 681.8 | 718.5 | 701.6 | 734.9 | 718.5 | 758.8 | 813.0 | 812.2 | 7 |
| U.S.-chartered depository institutions; asset-backed commercial paper; liability | FL763169103 | 186.7 | 188.4 | 176.0 | 184.8 | 191.5 | 176.0 | 188.0 | 212.8 | 196.9 | 8 |
| Foreign banking offices in the U.S.; asset-backed commercial paper; liability | FL753169103 | 106.7 | 146.0 | 173.3 | 158.0 | 167.4 | 173.3 | 164.5 | 183.9 | 193.2 | 9 |
| Issuers of asset-backed securities; commercial paper, excluding U.S.-chartered commercial banks' asset-backed commercial paper; liability | FL673169105 | 187.7 | 129.6 | 166.9 | 140.0 | 163.9 | 166.9 | 176.3 | 180.4 | 187.8 | 10 |
| Finance companies; commercial paper; liability | FL613169100 | 66.3 | 76.9 | 67.8 | 66.7 | 57.2 | 67.8 | 59.2 | 65.5 | 58.1 | 11 |
| Mortgage real estate investment trusts; commercial paper; liability | FL643169173 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 12 |
| Holding companies; commercial paper; liability | FL733169103 | 9.5 | 12.6 | 7.0 | 9.7 | 6.2 | 7.0 | 8.7 | 9.8 | 6.2 | 13 |
| Other financial business; commercial paper; liability | FL503169105 | 117.4 | 128.2 | 127.6 | 142.4 | 148.8 | 127.6 | 162.1 | 160.6 | 170.0 | 14 |
| Private depository institutions; bankers' acceptances; liability (1) | FL703169605 | 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 | FL763169603 | 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 | FL753169603 | 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 | FL893169175 | 1203.7 | 1219.5 | 1218.7 | 1217.5 | 1242.1 | 1218.7 | 1325.8 | 1390.8 | 1339.3 | 18 |
| Nonfinancial corporate business; commercial paper; asset | FL103069100 | 216.9 | 209.8 | 206.6 | 232.3 | 221.6 | 206.6 | 214.9 | 207.0 | 215.3 | 19 |
| State and local governments; commercial paper; asset | FL213069103 | 261.1 | 264.6 | 264.4 | 264.1 | 269.5 | 264.4 | 287.6 | 301.7 | 290.5 | 20 |
| Monetary authority; bankers' acceptances; asset | FL713069603 | 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) | FL763069175 | 0.0 | 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) | FL753069603 | 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 | FL473069153 | 0.1 | 0.0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | 24 |
| Property-casualty insurance companies; commercial paper, including those held by U.S. residual market reinsurers; asset | FL513069105 | 4.3 | 6.4 | 5.5 | 9.2 | 9.3 | 5.5 | 5.7 | 4.6 | 6.1 | 25 |
| Life insurance companies; commercial paper; asset | FL543069105 | 25.8 | 30.9 | 36.6 | 32.9 | 36.0 | 36.6 | 38.7 | 35.8 | 35.1 | 26 |
| Private pension funds; total commercial paper; asset | FL573069105 | 34.9 | 34.9 | 33.2 | 34.1 | 33.7 | 33.2 | 32.8 | 32.4 | 32.0 | 27 |
| State and local government employee defined benefit retirement funds; commercial paper; asset | FL223069143 | 11.2 | 11.8 | 12.6 | 13.7 | 10.5 | 12.6 | 11.8 | 12.6 | 12.7 | 28 |
| Money market funds; open market paper; asset | FL633069175 | 253.8 | 301.9 | 299.4 | 281.4 | 293.4 | 299.4 | 323.5 | 312.7 | 314.0 | 29 |
| Mutual funds; commercial paper; asset | FL653069100 | 39.5 | 38.5 | 35.4 | 38.1 | 40.5 | 35.4 | 36.5 | 38.5 | 39.8 | 30 |
| Government-sponsored enterprises; commercial paper; asset | FL403069105 | 10.2 | 11.6 | 8.7 | 9.7 | 10.4 | 8.7 | 8.5 | 8.1 | 6.5 | 31 |
| Security brokers and dealers; commercial paper (net); asset | FL663069105 | 19.0 | 19.6 | 32.0 | 23.3 | 37.7 | 32.0 | 32.8 | 46.4 | 47.9 | 32 |
| Other financial business; commercial paper; asset | FL503069105 | 135.6 | 165.8 | 145.5 | 152.6 | 144.2 | 145.5 | 189.8 | 250.3 | 188.9 | 33 |
| Rest of the world; commercial paper; asset | LM263069103 | 191.3 | 123.7 | 138.8 | 125.9 | 135.3 | 138.8 | 143.2 | 140.6 | 150.2 | 34 |
NOTES
- Excludes banks' holdings of own acceptances.
Last Update: January 9, 2026