Foreign Ownership of US Assets
What foreign investors own in the United States - Treasuries, corporate bonds, stocks, fund shares, deposits, loans and direct investment - and, on the other side, what US residents own abroad, quarterly from the Fed's rest-of-the-world sector accounts.
| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | Q3-2023 | Q2-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Foreign holdings of US financial assets16 | 63,891.43 | 59,401.67 | 59,826.97 | 58,714.24 | 55,987.6 | 53,116.56 | 52,846.42 | 52,624.55 | 49,872.77 | 49,157.88 | 46,548.52 | 43,199.64 | 43,736.46 | |
| Interbank claims on US banks | 2,052.98 | 2,148.19 | 2,126.41 | 2,030.03 | 1,988.09 | 2,005.98 | 1,893.41 | 1,849.62 | 1,948.89 | 1,897.59 | 1,959.85 | 1,827.02 | 1,796.89 | |
| US checkable deposits and currency | 1,333.88 | 1,316.72 | 1,299.58 | 1,319.62 | 1,301.59 | 1,282.03 | 1,269.6 | 1,275.12 | 1,256.34 | 1,259.86 | 1,243.55 | 1,232 | 1,243.96 | |
| US time and savings deposits | 785.27 | 762.75 | 736.55 | 793.36 | 786.83 | 769.2 | 742.58 | 745.01 | 708.38 | 720.44 | 691.88 | 676.38 | 675.23 | |
| US debt securities4 | 16,229.85 | 16,125.13 | 15,976.17 | 15,849.26 | 15,474.95 | 15,095.51 | 14,539.37 | 14,850.31 | 14,019.16 | 14,036.89 | 13,811.68 | 12,890.9 | 12,982.98 | |
| Commercial paper | 173.52 | 158.51 | 147.65 | 160.88 | 145.82 | 144.7 | 139.23 | 135.81 | 125.94 | 117.37 | 123.75 | 121.33 | 112.66 | |
| Agency- and GSE-backed securities | 1,460.32 | 1,418.31 | 1,410.53 | 1,394.14 | 1,350.93 | 1,365.62 | 1,363.8 | 1,402.21 | 1,346.45 | 1,318.94 | 1,341.41 | 1,262.11 | 1,256.23 | |
| Municipal securities | 131.09 | 129.39 | 128.6 | 126.1 | 121.74 | 121.21 | 121.01 | 122.06 | 117.9 | 117.46 | 116.7 | 108.26 | 111.74 | |
| Corporate bonds | 5,195.69 | 5,070.26 | 5,022.19 | 4,930.63 | 4,762.45 | 4,409.78 | 4,296.02 | 4,423.98 | 4,129.6 | 4,375.26 | 4,289.81 | 3,890.09 | 3,939.14 | |
| Short-term loans to US borrowers3 | 3,530.16 | 3,402.91 | 3,192.77 | 3,293.12 | 3,134.25 | 3,064.16 | 2,857.87 | 2,970.93 | 2,917.86 | 2,866.65 | 2,810.98 | 2,814.32 | 2,691.34 | |
| Security repurchase agreements | 1,726.9 | 1,684.71 | 1,566.61 | 1,629.14 | 1,508.02 | 1,493.32 | 1,335.85 | 1,399.3 | 1,374.97 | 1,338.12 | 1,305.36 | 1,294.41 | 1,137.37 | |
| Private credit loans | 380.54 | 373.12 | 375.49 | 363.4 | 355.25 | 348.41 | 336.22 | 312.7 | 313.97 | 308.52 | 306.39 | 288.23 | 278.71 | |
| Other loans and advances | 1,422.72 | 1,345.09 | 1,250.68 | 1,300.58 | 1,270.98 | 1,222.43 | 1,185.79 | 1,258.92 | 1,228.92 | 1,220.01 | 1,199.23 | 1,231.67 | 1,275.27 | |
| US corporate equities | 22,210.67 | 18,937.27 | 19,887.78 | 19,147.18 | 17,676.08 | 15,956.08 | 16,662.73 | 16,041.46 | 15,118.08 | 14,542.2 | 13,200.9 | 11,878.75 | 12,214.72 | |
| Direct investment in the US: equity | 13,412.05 | 12,681.25 | 12,641.73 | 12,406.15 | 11,892.96 | 11,292.68 | 11,236.96 | 11,312.87 | 10,471.97 | 10,521.79 | 9,623.4 | 8,795.23 | 9,118.81 | |
| US money market fund shares | 233.58 | 229.38 | 226.64 | 215.12 | 207.02 | 203.39 | 199.77 | 196.15 | 192.52 | 186.98 | 181.44 | 175.9 | 170.36 | |
| US mutual fund shares | 1,915.67 | 1,724.71 | 1,723.18 | 1,641.1 | 1,525.86 | 1,465.56 | 1,463.54 | 1,430.75 | 1,329.98 | 1,249.34 | 1,221.83 | 1,147.5 | 1,152.59 | |
| US hedge fund shares | 217.49 | 194.17 | 184.3 | 177.06 | 164.06 | 159.69 | 157.16 | 150.06 | 143.83 | 146.47 | 138.82 | 135.47 | 133.09 | |
| US private debt fund shares | 86.8 | 87.1 | 91.52 | 88.82 | 90.18 | 87.49 | 86.08 | 82.48 | 79.85 | 77.02 | 75.5 | 67.41 | 64.15 | |
| Life insurance reserve credit assumed from non-US insurers | 0.7 | 0.69 | 0.69 | 0.69 | 0.69 | 0.69 | 0.69 | 0.62 | 0.56 | 0.49 | 0.42 | 0.39 | 0.35 | |
| Pension entitlement reserve credit assumed from non-US insurers | 2.6 | 2.57 | 2.53 | 2.53 | 2.53 | 2.53 | 2.53 | 2.22 | 1.91 | 1.61 | 1.3 | 1.29 | 1.28 | |
| Trade receivables | 902.33 | 855.19 | 824.79 | 831.44 | 826.92 | 823.35 | 822.98 | 783.42 | 751.9 | 716.99 | 667.53 | 636.43 | 607.35 | |
| Direct investment in the US: intercompany debt | 424.98 | 420.64 | 408.99 | 412.46 | 423.14 | 437.9 | 445.48 | 466.88 | 468.27 | 468.39 | 448.18 | 459.99 | 466.99 | |
| Miscellaneous assets | 396.68 | 357.2 | 346.07 | 348.84 | 334.63 | 317.72 | 315.89 | 310.85 | 312.18 | 313.1 | 317.17 | 309.62 | 263.61 | |
| US claims on the rest of the world (foreign liabilities and equity)2 | 43,149.55 | 39,777.86 | 39,572.83 | 38,111.53 | 36,145.02 | 33,520.92 | 32,101.39 | 33,460.98 | 31,891.23 | 31,691.17 | 30,382.47 | 28,567.84 | 29,232.87 | |
| Liabilities10 | 12,782.04 | 12,244.64 | 11,904.22 | 11,583.23 | 11,198.23 | 10,898.16 | 10,298.26 | 10,357.91 | 10,075.15 | 9,938.53 | 9,860.29 | 9,541.3 | 9,428.75 | |
| SDR holdings of the US | 171.27 | 172.59 | 174.79 | 175.57 | 175.71 | 170.38 | 166.89 | 172.9 | 166.21 | 166.27 | 166.5 | 162.06 | 162.21 | |
| Interbank liabilities to US banks | 1,463.16 | 1,452.52 | 1,460.96 | 1,401.73 | 1,325.36 | 1,332.28 | 1,292.5 | 1,350.19 | 1,422.36 | 1,421.14 | 1,405.25 | 1,375.69 | 1,332.65 | |
| Other deposits | 1,405.21 | 1,377.19 | 1,281.12 | 1,263.56 | 1,179.7 | 1,141.71 | 1,094.78 | 1,114.33 | 1,058.46 | 1,034.35 | 986.36 | 981.87 | 958.71 | |
| Foreign debt securities held by US residents | 4,218.67 | 4,076 | 4,040.51 | 3,954.82 | 3,903.06 | 3,861.84 | 3,718.48 | 3,843.37 | 3,733.08 | 3,708.58 | 3,727.71 | 3,669.57 | 3,737.65 | |
| Short-term loans4 | 4,377.8 | 4,089.35 | 3,902.39 | 3,830.85 | 3,660.4 | 3,388.55 | 3,048.43 | 2,922.64 | 2,804.96 | 2,696.87 | 2,698.41 | 2,523.43 | 2,441.77 | |
| Security repurchase agreements | 2,349.75 | 2,180.54 | 2,063.06 | 2,091.52 | 2,008.22 | 1,899.45 | 1,633.38 | 1,776.57 | 1,657.77 | 1,612.28 | 1,630.02 | 1,474.08 | 1,420.37 | |
| Depository institution loans n.e.c. | 1,556.37 | 1,491.9 | 1,411.04 | 1,332.44 | 1,278.38 | 1,138.64 | 1,055.54 | 822.53 | 817.65 | 769.25 | 780.67 | 763.11 | 746.15 | |
| Private credit loans | 35.74 | 35.03 | 35.1 | 33.49 | 33.61 | 33.3 | 33.23 | 30.97 | 30.36 | 30.31 | 29.77 | 28.89 | 27.34 | |
| Other loans and advances | 435.94 | 381.87 | 393.2 | 373.4 | 340.19 | 317.16 | 326.28 | 292.58 | 299.18 | 285.04 | 257.95 | 257.35 | 247.91 | |
| Life insurance reserve credit from non-US reinsurers | 140.83 | 140.22 | 139.03 | 139.85 | 140.67 | 141.48 | 142.3 | 143.47 | 144.64 | 145.81 | 146.98 | 134.35 | 121.73 | |
| Pension entitlement reserve credit from non-US reinsurers | 436.26 | 431.94 | 424.71 | 427.26 | 429.8 | 432.35 | 434.9 | 406.26 | 377.62 | 348.98 | 320.33 | 304.37 | 288.42 | |
| Trade credit and advances | 107.07 | 97.33 | 89.28 | 95.5 | 91.08 | 92.4 | 93.13 | 93.25 | 89.33 | 88 | 87.96 | 82.56 | 79.77 | |
| US direct investment abroad: intercompany debt | -63.52 | -70.33 | -65.81 | -105.92 | -97.75 | -41.99 | -68.63 | -69.06 | -92.01 | -52.01 | -60.32 | -67.42 | -89.54 | |
| Miscellaneous liabilities | 525.29 | 477.86 | 457.25 | 400.03 | 390.22 | 379.17 | 375.49 | 380.58 | 370.51 | 380.55 | 381.13 | 374.81 | 395.39 | |
| Equity and investment fund shares5 | 30,367.51 | 27,533.22 | 27,668.6 | 26,528.29 | 24,946.79 | 22,622.76 | 21,803.13 | 23,103.07 | 21,816.08 | 21,752.64 | 20,522.18 | 19,026.54 | 19,804.12 | |
| Foreign corporate equities held by US residents | 14,442.54 | 13,004.8 | 13,072.04 | 12,566.43 | 11,758.28 | 10,576.97 | 10,175.14 | 10,827.88 | 10,133.08 | 10,100.28 | 9,581.65 | 8,922.25 | 9,253.66 | |
| US direct investment abroad: equity | 13,535.47 | 12,371.69 | 12,458.24 | 11,874.92 | 11,191.3 | 10,129.98 | 9,731.27 | 10,399.38 | 9,850.21 | 9,834.05 | 9,180.08 | 8,357.43 | 8,816.32 | |
| US equity in the World Bank (IBRD) | 79.58 | 78.83 | 78.74 | 78.74 | 78.53 | 77.05 | 76.96 | 76.96 | 76.52 | 74.74 | 74.73 | 74.73 | 74.73 | |
| Foreign hedge fund shares | 2,171.75 | 1,938.68 | 1,911.41 | 1,868.55 | 1,777.74 | 1,700.39 | 1,682.63 | 1,670.75 | 1,628.98 | 1,616.98 | 1,558.9 | 1,553.36 | 1,546.12 | |
| Foreign private debt fund shares | 138.18 | 139.23 | 148.18 | 139.66 | 140.94 | 138.37 | 137.13 | 128.09 | 127.3 | 126.6 | 126.82 | 118.77 | 113.29 |
Latest reading
Foreign holdings of US financial assets stood at 63,891.43 Billion USD in Q2 2026. That is +7.6% from Q1 2026 and +14.1% from a year earlier. The series on this page is quarterly and runs from Q4 1945 to Q2 2026. Source: Federal Reserve Board - Financial Accounts of the United States (Z.1).
- Latest
- 63,891.43 Billion USD
- Q2 2026
- vs previous period
- +7.6%
- Q1 2026
- vs a year earlier
- +14.1%
About this data
What foreign investors own in the United States - Treasuries, corporate bonds, stocks, fund shares, deposits, loans and direct investment - and, on the other side, what US residents own abroad, quarterly from the Fed's rest-of-the-world sector accounts. It is the flow-of-funds counterpart of the international investment position and breaks the foreign bond holdings down by issuer type, which the TIC country data does not. Figures are amounts outstanding at the end of each quarter, not seasonally adjusted, converted from the source's millions to billions of US dollars. Where the source reports a zero before an instrument existed (private credit, for example, is recorded as zero until the Fed started measuring it), the leading zeros are dropped so the series starts when the item starts. Source: Federal Reserve Board, Financial Accounts of the United States (Z.1).
Frequently asked questions
- What does foreign ownership of US assets measure?
- It measures the financial assets in the United States held by the rest of the world, including deposits, debt securities, corporate bonds, equities, loans and direct investment.
- Who publishes it and how often?
- The Federal Reserve Board publishes it quarterly in the Financial Accounts of the United States (Z.1), with series back to the fourth quarter of 1945.
- Which instruments are broken out?
- Interbank claims, checkable and time deposits, commercial paper, agency and GSE-backed securities, municipal securities, corporate bonds, short-term loans and securities repurchase agreements.
- Why does foreign ownership of US assets matter?
- Because foreign demand for US debt and equity funds part of the current account deficit; a sustained fall in that demand puts upward pressure on US yields and the dollar.
