Financial Accounts of the United States - Z.1
L.210 Treasury securities1
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
| Line | Description | Series | 2023 | 2024 | 2025 | 2024:Q3 | 2024:Q4 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Total liabilities | FL313161105 | 26226.6 | 28139.5 | 30069.6 | 27586.4 | 28139.5 | 28447.3 | 28518.3 | 29571.6 | 30069.6 |
| Line 2 | Treasury bills | FL313161110 | 5674.8 | 6186.2 | 6546.6 | 6004.1 | 6186.2 | 6155.1 | 5783.5 | 6396.6 | 6546.6 |
| Line 3 | Other Treasury notes, bonds, and TIPS2 | FL313161275 | 20551.7 | 21953.3 | 23523.1 | 21582.3 | 21953.3 | 22292.2 | 22734.8 | 23175.0 | 23523.1 |
| Line 4 | Total assets | FL893061105 | 24193.9 | 25950.6 | 28497.9 | 26098.7 | 25950.6 | 26761.9 | 26823.2 | 28029.1 | 28497.9 |
| Line 5 | Household sector | LM153061105 | 2515.4 | 2626.3 | 2944.6 | 2737.2 | 2626.3 | 2731.0 | 2875.7 | 2889.5 | 2944.6 |
| Line 6 | Nonfinancial corporate business | LM103061103 | 111.4 | 122.1 | 135.7 | 119.9 | 122.1 | 124.1 | 126.6 | 131.9 | 135.7 |
| Line 7 | Nonfinancial noncorporate business | LM113061003 | 84.5 | 86.7 | 89.1 | 86.0 | 86.7 | 87.2 | 87.5 | 88.2 | 89.1 |
| Line 8 | State and local governments | LM213061103 | 1406.9 | 1475.1 | 1553.3 | 1512.6 | 1475.1 | 1529.1 | 1510.2 | 1574.1 | 1553.3 |
| Line 9 | Monetary authority | LM713061103 | 4403.1 | 3819.9 | 3859.2 | 4048.0 | 3819.9 | 3832.2 | 3811.0 | 3830.9 | 3859.2 |
| Line 10 | Treasury bills | LM713061113 | 214.4 | 193.5 | 231.9 | 193.5 | 193.5 | 193.7 | 193.7 | 193.9 | 231.9 |
| Line 11 | Other Treasury securities | LM713061125 | 4188.7 | 3626.4 | 3627.4 | 3854.6 | 3626.4 | 3638.5 | 3617.4 | 3637.0 | 3627.4 |
| Line 12 | U.S.-chartered depository institutions | LM763061100 | 1329.2 | 1536.8 | 1744.8 | 1470.9 | 1536.8 | 1545.5 | 1637.1 | 1725.4 | 1744.8 |
| Line 13 | Foreign banking offices in U.S. | LM753061103 | 93.5 | 100.3 | 125.2 | 111.7 | 100.3 | 108.4 | 122.3 | 124.1 | 125.2 |
| Line 14 | Banks in U.S.-affiliated areas | LM743061103 | 21.7 | 22.8 | 24.7 | 21.6 | 22.8 | 23.8 | 24.9 | 24.6 | 24.7 |
| Line 15 | Credit unions | LM473061105 | 69.6 | 62.8 | 67.1 | 65.2 | 62.8 | 63.2 | 64.6 | 66.4 | 67.1 |
| Line 16 | Property-casualty insurance companies | LM513061105 | 263.6 | 362.5 | 432.1 | 425.7 | 362.5 | 432.2 | 397.6 | 455.5 | 432.1 |
| Line 17 | Treasury bills | LM513061115 | 96.5 | 184.8 | 178.6 | 244.9 | 184.8 | 193.6 | 154.0 | 204.2 | 178.6 |
| Line 18 | Other Treasury securities | LM513061125 | 167.0 | 177.7 | 253.6 | 180.8 | 177.7 | 238.6 | 243.6 | 251.3 | 253.6 |
| Line 19 | Life insurance companies | LM543061105 | 182.0 | 187.3 | 207.3 | 193.3 | 187.3 | 191.6 | 192.6 | 202.5 | 207.3 |
| Line 20 | Treasury bills | LM543061115 | 18.8 | 22.2 | 19.0 | 21.3 | 22.2 | 23.7 | 20.8 | 19.6 | 19.0 |
| Line 21 | Other Treasury securities | LM543061125 | 163.3 | 165.0 | 188.3 | 172.0 | 165.0 | 167.9 | 171.8 | 182.8 | 188.3 |
| Line 22 | Private pension funds | LM573061105 | 484.8 | 523.3 | 605.5 | 531.5 | 523.3 | 549.7 | 567.9 | 591.1 | 605.5 |
| Line 23 | Defined benefit plans | LM573061143 | 268.8 | 286.3 | 318.5 | 292.2 | 286.3 | 298.6 | 304.7 | 312.9 | 318.5 |
| Line 24 | Defined contribution plans | LM573061133 | 216.0 | 237.0 | 287.0 | 239.3 | 237.0 | 251.1 | 263.3 | 278.3 | 287.0 |
| Line 25 | Federal government pension funds | LM343061105 | 19.9 | 20.9 | 22.2 | 20.4 | 20.9 | 21.6 | 21.5 | 21.9 | 22.2 |
| Line 26 | Defined benefit plans | LM343061165 | 6.2 | 5.9 | 5.6 | 5.9 | 5.9 | 5.9 | 5.5 | 5.6 | 5.6 |
| Line 27 | Defined contribution plans | LM343061113 | 13.8 | 15.0 | 16.6 | 14.5 | 15.0 | 15.7 | 16.0 | 16.4 | 16.6 |
| Line 28 | State and local govt. pension funds | LM223061143 | 402.7 | 468.6 | 529.9 | 493.7 | 468.6 | 484.2 | 482.9 | 525.2 | 529.9 |
| Line 29 | Money market funds | FL633061105 | 2269.5 | 2994.9 | 3517.8 | 2659.8 | 2994.9 | 2880.6 | 2614.0 | 3232.4 | 3517.8 |
| Line 30 | Treasury bills | FL633061110 | 1866.0 | 2428.2 | 2687.0 | 2199.5 | 2428.2 | 2235.0 | 1918.2 | 2451.9 | 2687.0 |
| Line 31 | Other Treasury securities | FL633061120 | 403.5 | 566.6 | 830.8 | 460.3 | 566.6 | 645.5 | 695.8 | 780.5 | 830.8 |
| Line 32 | Mutual funds | LM653061105 | 1373.3 | 1503.7 | 1675.1 | 1496.0 | 1503.7 | 1538.2 | 1535.8 | 1636.9 | 1675.1 |
| Line 33 | Treasury bills | LM653061113 | 12.8 | 11.6 | 12.6 | 9.4 | 11.6 | 11.5 | 10.1 | 12.7 | 12.6 |
| Line 34 | Other Treasury securities | LM653061125 | 1360.5 | 1492.1 | 1662.5 | 1486.6 | 1492.1 | 1526.7 | 1525.7 | 1624.2 | 1662.5 |
| Line 35 | Closed-end funds | LM553061103 | 2.1 | 1.9 | 2.0 | 2.1 | 1.9 | 2.0 | 2.0 | 2.0 | 2.0 |
| Line 36 | Exchange-traded funds | LM563061103 | 502.3 | 555.8 | 706.8 | 568.8 | 555.8 | 605.0 | 635.8 | 675.0 | 706.8 |
| Line 37 | Government-sponsored enterprises | LM403061105 | 163.6 | 224.0 | 246.5 | 191.0 | 224.0 | 232.3 | 257.9 | 254.7 | 246.5 |
| Line 38 | ABS issuers | FL673061103 | 31.4 | 26.2 | 19.2 | 25.9 | 26.2 | 22.6 | 20.4 | 19.0 | 19.2 |
| Line 39 | Brokers and dealers | LM663061105 | 328.7 | 454.2 | 542.5 | 391.6 | 454.2 | 487.3 | 513.2 | 492.6 | 542.5 |
| Line 40 | Holding companies | LM733061103 | 132.4 | 130.1 | 120.9 | 133.4 | 130.1 | 137.4 | 131.0 | 126.6 | 120.9 |
| Line 41 | Other financial business | FL503061123 | 62.3 | 86.0 | 102.2 | 77.3 | 86.0 | 83.4 | 86.4 | 89.7 | 102.2 |
| Line 42 | Rest of the world | LM263061105 | 7940.0 | 8558.4 | 9224.4 | 8715.2 | 8558.4 | 9049.5 | 9104.2 | 9248.9 | 9224.4 |
| Line 43 | Treasury bills | LM263061110 | 1083.1 | 1244.1 | 1447.6 | 1199.3 | 1244.1 | 1416.8 | 1415.3 | 1415.8 | 1447.6 |
| Line 44 | Other Treasury securities | LM263061120 | 6856.9 | 7314.3 | 7776.8 | 7515.9 | 7314.3 | 7632.7 | 7688.8 | 7833.1 | 7776.8 |
| Line 45 | Discrepancy3 | LM903061103 | 2032.6 | 2188.9 | 1571.8 | 1487.7 | 2188.9 | 1685.4 | 1695.2 | 1542.5 | 1571.8 |
| Memo: | |||||||||||
| Line 46 | Nonmarketable Treasury securities4 | FL313169205 | 3225.1 | 3456.8 | 3817.4 | 3290.7 | 3456.8 | 3185.0 | 3025.0 | 3520.1 | 3817.4 |
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: 2026-03-19