Financial Accounts of the United States - Z.1
L.210 Treasury Securities (1)
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Federal government; total marketable Treasury securities; liability | FL313161105 | 23845.0 | 26226.6 | 28139.5 | 26903.1 | 27586.4 | 28139.5 | 28447.3 | 28518.3 | 29571.6 | 1 |
| Federal government; total marketable Treasury bills; liability | FL313161110 | 3696.2 | 5674.8 | 6186.2 | 5764.9 | 6004.1 | 6186.2 | 6155.1 | 5783.5 | 6396.6 | 2 |
| Federal government; other marketable Treasury securities; liability (2) | FL313161275 | 20148.8 | 20551.7 | 21953.3 | 21138.2 | 21582.3 | 21953.3 | 22292.2 | 22734.8 | 23175.0 | 3 |
| All sectors; Treasury securities; asset | FL893061105 | 21526.4 | 24194.0 | 25950.6 | 24655.1 | 26098.8 | 25950.6 | 26762.0 | 26824.9 | 28027.6 | 4 |
| Households and nonprofit organizations; Treasury securities; asset | LM153061105 | 1674.4 | 2523.9 | 2634.6 | 2541.4 | 2745.2 | 2634.6 | 2772.4 | 2821.4 | 2960.9 | 5 |
| Nonfinancial corporate business; Treasury securities; asset | LM103061103 | 89.0 | 111.4 | 122.1 | 94.8 | 119.9 | 122.1 | 124.1 | 126.6 | 131.9 | 6 |
| Nonfinancial noncorporate business; total U.S. government securities; asset | LM113061003 | 82.5 | 84.5 | 86.7 | 85.4 | 86.0 | 86.7 | 87.2 | 87.5 | 88.2 | 7 |
| State and local governments; Treasury securities, excluding SLGS; asset | LM213061103 | 1296.0 | 1398.4 | 1466.5 | 1439.2 | 1504.3 | 1466.5 | 1487.5 | 1530.7 | 1572.3 | 8 |
| Monetary authority; total Treasury securities; asset | LM713061103 | 5056.4 | 4403.1 | 3819.9 | 3993.2 | 4048.0 | 3819.9 | 3832.2 | 3811.0 | 3830.9 | 9 |
| Monetary authority; Treasury bills; asset | LM713061113 | 286.4 | 214.4 | 193.5 | 192.9 | 193.5 | 193.5 | 193.7 | 193.7 | 193.9 | 10 |
| Monetary authority; other Treasury securities, excluding Treasury bills; asset | LM713061125 | 4770.0 | 4188.7 | 3626.4 | 3800.2 | 3854.6 | 3626.4 | 3638.5 | 3617.4 | 3637.0 | 11 |
| U.S.-chartered depository institutions; Treasury securities; asset | LM763061100 | 1388.9 | 1329.2 | 1536.8 | 1405.8 | 1470.9 | 1536.8 | 1545.5 | 1637.1 | 1725.4 | 12 |
| Foreign banking offices in the U.S.; Treasury securities; asset | LM753061103 | 89.5 | 93.5 | 100.3 | 108.5 | 111.7 | 100.3 | 108.4 | 122.3 | 124.1 | 13 |
| Banks in U.S.-affiliated areas; Treasury securities; asset | LM743061103 | 23.5 | 21.7 | 22.8 | 23.5 | 21.6 | 22.8 | 23.8 | 24.9 | 24.6 | 14 |
| Credit unions; Treasury securities; asset | LM473061105 | 77.8 | 69.6 | 62.8 | 65.9 | 65.2 | 62.8 | 63.2 | 64.6 | 66.4 | 15 |
| Property-casualty insurance companies; Treasury securities, including those held by U.S. residual market reinsurers; asset | LM513061105 | 213.3 | 263.6 | 362.5 | 365.9 | 425.7 | 362.5 | 432.2 | 397.6 | 455.5 | 16 |
| Property-casualty insurance companies; Treasury bills, including those held by U.S. residual market reinsurers; asset | LM513061115 | 68.0 | 96.5 | 184.8 | 195.7 | 244.9 | 184.8 | 193.6 | 154.0 | 204.2 | 17 |
| Property-casualty insurance companies; other Treasury securities, including those held by U.S. residual market reinsurers, excluding Treasury bills; asset | LM513061125 | 145.2 | 167.0 | 177.7 | 170.2 | 180.8 | 177.7 | 238.6 | 243.6 | 251.3 | 18 |
| Life insurance companies; Treasury securities; asset | LM543061105 | 179.5 | 182.0 | 187.3 | 185.5 | 193.3 | 187.3 | 191.6 | 192.6 | 202.5 | 19 |
| Life insurance companies; Treasury bills, including those held by U.S. captive reinsurers; asset | LM543061115 | 17.6 | 18.8 | 22.2 | 19.5 | 21.3 | 22.2 | 23.7 | 20.8 | 19.6 | 20 |
| Life insurance companies; other Treasury securities, including those held by U.S. captive reinsurers, excluding Treasury bills; asset | LM543061125 | 161.9 | 163.3 | 165.0 | 166.0 | 172.0 | 165.0 | 167.9 | 171.8 | 182.8 | 21 |
| Private pension funds; Treasury securities; asset | LM573061105 | 427.7 | 484.8 | 523.5 | 496.6 | 531.6 | 523.5 | 550.1 | 568.5 | 590.4 | 22 |
| Private defined benefit pension funds; Treasury securities; asset | LM573061143 | 226.7 | 268.8 | 286.3 | 274.8 | 292.2 | 286.3 | 298.6 | 304.7 | 312.9 | 23 |
| Private defined contribution pension funds; Treasury securities; asset | LM573061133 | 201.0 | 216.0 | 237.2 | 221.9 | 239.4 | 237.2 | 251.5 | 263.8 | 277.5 | 24 |
| Federal government retirement funds; Treasury securities; asset | LM343061105 | 18.0 | 19.9 | 20.9 | 18.9 | 20.4 | 20.9 | 21.6 | 21.5 | 21.9 | 25 |
| Federal government defined benefit retirement funds; Treasury securities; asset | LM343061165 | 5.6 | 6.2 | 5.9 | 5.2 | 5.9 | 5.9 | 5.9 | 5.5 | 5.6 | 26 |
| Federal government defined contribution retirement funds; Treasury securities held by Thrift Savings Plan F Fund; asset | LM343061113 | 12.4 | 13.8 | 15.0 | 13.6 | 14.5 | 15.0 | 15.7 | 16.0 | 16.4 | 27 |
| State and local government employee defined benefit retirement funds; Treasury securities; asset | LM223061143 | 321.8 | 402.7 | 468.6 | 455.8 | 493.7 | 468.6 | 484.1 | 494.4 | 496.5 | 28 |
| Money market funds; Treasury securities; asset | FL633061105 | 1064.0 | 2269.5 | 2994.9 | 2449.9 | 2659.8 | 2994.9 | 2880.6 | 2614.0 | 3232.4 | 29 |
| Money market funds; Treasury bills; asset | FL633061110 | 602.0 | 1866.0 | 2428.2 | 1978.1 | 2199.5 | 2428.2 | 2235.0 | 1918.2 | 2451.9 | 30 |
| Money market funds; Other Treasury securities, excluding Treasury bills; asset | FL633061120 | 462.0 | 403.5 | 566.6 | 471.8 | 460.3 | 566.6 | 645.5 | 695.8 | 780.5 | 31 |
| Mutual funds; Treasury securities; asset (market value) | LM653061105 | 1342.3 | 1373.3 | 1503.7 | 1405.9 | 1496.0 | 1503.7 | 1538.2 | 1535.8 | 1574.2 | 32 |
| Mutual funds; Treasury bills; asset | LM653061113 | 12.7 | 12.8 | 11.6 | 10.1 | 9.4 | 11.6 | 11.5 | 10.1 | 10.9 | 33 |
| Mutual funds; other Treasury securities, excluding Treasury bills (includes all Treasury securities before 2010:Q4); asset | LM653061125 | 1329.6 | 1360.5 | 1492.1 | 1395.8 | 1486.6 | 1492.1 | 1526.7 | 1525.7 | 1563.3 | 34 |
| Closed-end funds; Treasury securities; asset | LM553061103 | 2.3 | 2.1 | 1.9 | 2.0 | 2.1 | 1.9 | 2.0 | 2.0 | 2.0 | 35 |
| Exchange-traded funds; Treasury securities; asset | LM563061103 | 400.5 | 502.3 | 555.9 | 523.2 | 568.9 | 555.9 | 605.0 | 635.8 | 675.7 | 36 |
| Government-sponsored enterprises; Treasury securities; asset | LM403061105 | 155.6 | 163.6 | 224.0 | 170.0 | 191.0 | 224.0 | 232.3 | 257.9 | 254.7 | 37 |
| Issuers of asset-backed securities; Treasury securities; asset | FL673061103 | 36.4 | 31.4 | 26.2 | 26.9 | 25.9 | 26.2 | 22.6 | 20.4 | 19.0 | 38 |
| Security brokers and dealers; Treasury securities (net); asset | LM663061105 | 215.9 | 328.7 | 454.2 | 358.6 | 391.6 | 454.2 | 487.3 | 513.2 | 492.6 | 39 |
| Holding companies; Treasury securities; asset | LM733061103 | 133.6 | 132.4 | 130.1 | 123.8 | 133.4 | 130.1 | 137.3 | 130.9 | 126.6 | 40 |
| Other financial business; Treasury securities held by central clearing counterparties; asset | FL503061123 | 42.8 | 62.3 | 86.0 | 65.2 | 77.3 | 86.0 | 83.4 | 86.4 | 89.7 | 41 |
| Rest of the world; Treasury securities; asset | LM263061105 | 7194.7 | 7940.0 | 8558.4 | 8249.5 | 8715.2 | 8558.4 | 9049.5 | 9127.7 | 9269.2 | 42 |
| Rest of the world; Treasury bills and certificates; asset | LM263061110 | 950.0 | 1083.1 | 1244.1 | 1103.8 | 1199.3 | 1244.1 | 1416.8 | 1415.1 | 1415.6 | 43 |
| Rest of the world; other Treasury securities, excluding Treasury bills and certificates; asset | LM263061120 | 6244.7 | 6856.9 | 7314.3 | 7145.7 | 7515.9 | 7314.3 | 7632.7 | 7712.6 | 7853.7 | 44 |
| Instrument discrepancies; Treasury securities (level) (3) | LM903061103 | 2318.6 | 2032.6 | 2188.9 | 2248.0 | 1487.7 | 2188.9 | 1685.3 | 1693.5 | 1544.0 | 45 |
| Federal government; total nonmarketable Treasury securities; liability (4) | FL313169205 | 2986.6 | 3225.1 | 3456.8 | 3229.8 | 3290.7 | 3456.8 | 3185.0 | 3025.0 | 3520.1 | 46 |
NOTES
- Marketable Treasury securities (net of premiums and discounts) issued by the federal government and held by sectors other than the federal government.
- Inlcudes long-term marketable securities issued to the Civil Service Retirement Fund by the Federal Financing Bank.
- The accumulated valuation difference between issuance and holdings.
- Nonmarketable Treasury securities are classified as other loans and advances because they are not negotiable and are therefore not considered debt securities.
Last Update: January 9, 2026