PRELIMINARY REPORT ON
FOREIGN PORTFOLIO HOLDINGS OF U.S. SECURITIES
AT END-JUNE 2019

Preliminary data from the June 2019 benchmark survey of foreign portfolio holdings of U.S. securities were released on February 28, 2020. The survey measured the value of foreign holdings of U.S. securities as of June 30, 2019, to be $20,858 billion, with $8,899 billion held in U.S. equities, $11,035 billion held in U.S. long-term debt securities [1] (of which $1,447 billion are holdings of asset-backed securities (ABS) [2] and $9,589 billion are holdings of non-ABS securities), and $924 billion held in U.S. short-term debt securities.  The previous survey, conducted as of June 30, 2018, measured the value of total foreign holdings of U.S. securities at $19,400 billion, with holdings of $8,139 billion in U.S. equities, $10,282 billion in U.S. long-term debt securities, and $980 billion in U.S. short-term debt securities. The Treasury Press Release is dated February 28, 2020.

[1] Long-term debt securities have an original term-to-maturity of over one year.

[2] Asset-backed securities are backed by pools of assets, such as pools of residential home mortgages or credit card receivables, which give the security owners claims against the cash flows generated by the underlying assets. Unlike most other debt securities, asset-backed securities generally repay both principal and interest on a regular basis, reducing the principal outstanding with each payment cycle.

 

Three data tables are presented at the following links. Each table presents holdings by country of the foreign holder. The first table shows foreign holdings of U.S. securities split into holdings of equities, long-term debt, and short-term debt. The second table divides holdings of long-term debt securities by type of issuer as follows: U.S. Treasury, U.S. government agency asset-backed, U.S. government agency non-asset-backed, U.S. corporate and other asset-backed, and U.S. corporate and other non-asset-backed. The third table shows separately foreign holdings of short-term U.S. Treasury, U.S. government agencies, and corporate (and other) debt securities.

 

Final survey results, which will include additional detail as well as possible revisions to the preliminary data, will be reported on April 30, 2020.  The survey was undertaken jointly by Treasury, the Federal Reserve Bank of New York, and the Board of Governors of the Federal Reserve System. The three agencies wish to thank all of the institutions who participated in the survey, without whose efforts the survey would not have been possible. The next annual survey will cover holdings at the end of June 2020; preliminary data are expected to be released by February 26, 2021. Additional information on survey methodology and accuracy can be found in the article, Understanding U.S. Cross-Border Securities Data PDF icon(PDF), from the Federal Reserve Bulletin, 2006.

 

The subject surveys of foreign portfolio holdings of U.S. securities are conducted annually and measure foreign holdings as of end-June each year. Complementary surveys measuring U.S. holdings of foreign securities are also carried out annually.  Data from the most recent survey, reporting on securities held at year-end 2019, are currently being processed.  Preliminary results are expected to be reported by August 31, 2020. Questions about the surveys can be directed to Contact TIC (this link is found also in the gray bar near the top of any TIC webpage). Questions from the news media should be directed to the Office of Public Affairs at the Department of the Treasury at (202) 622-2960.

  

 

 


Last Updated: February 28, 2019