US Treasury Fails to Deliver
US Treasury fails to deliver and receive statistics from the OFR.
| Indicator | 16-09-2026 | 09-09-2026 | 02-09-2026 | 26-08-2026 | 19-08-2026 | 12-08-2026 | 05-08-2026 | 29-07-2026 | 22-07-2026 | 15-07-2026 | 08-07-2026 | 01-07-2026 | 24-06-2026 | 17-06-2026 | 10-06-2026 | 03-06-2026 | 27-05-2026 | 20-05-2026 | 13-05-2026 | 06-05-2026 | 29-04-2026 | 22-04-2026 | 15-04-2026 | 08-04-2026 | 01-04-2026 | 25-03-2026 | 18-03-2026 | 11-03-2026 | 04-03-2026 | 25-02-2026 | 18-02-2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FAILS TO DELIVER1 | ||||||||||||||||||||||||||||||||
| Total4 | 229.81 | 164.43 | 140.58 | 136.78 | 169.88 | 163.91 | 170.44 | 122.7 | 156.64 | 176.15 | 165.25 | 165.51 | 153.02 | 156.79 | 160.91 | 182.9 | 149.82 | 172.08 | 143.1 | 145.51 | 121.23 | 134.79 | 166.39 | 182.12 | 268.05 | 182.2 | 269.21 | 142.96 | 154.95 | 132.85 | 172.35 | |
| Treasury securities2 | 174.22 | 128.4 | 92.6 | 81.85 | 97.53 | 118.1 | 102.75 | 72.52 | 101.16 | 110.83 | 109.1 | 105.19 | 91.89 | 101.24 | 118.74 | 141.46 | 109.5 | 121.47 | 99.21 | 93.2 | 79.56 | 80.39 | 99.57 | 127.18 | 203.46 | 102.81 | 198.58 | 97.34 | 105.21 | 83.9 | 95.31 | |
| Treasury Inflation-Protected Securities (TIPS) | 12.51 | 14.57 | 6.58 | 5.2 | 9.61 | 10.06 | 14.39 | 11.31 | 8.85 | 9.04 | 7.97 | 9.04 | 8.39 | 6.11 | 7.6 | 12.54 | 7.25 | 9.28 | 8.68 | 6.76 | 5.56 | 5.45 | 7.4 | 6.94 | 6.44 | 6.2 | 7.48 | 4.5 | 4.35 | 4.23 | 4.05 | |
| Treasury securities excluding TIPS | 161.71 | 113.83 | 86.03 | 76.66 | 87.92 | 108.04 | 88.36 | 61.21 | 92.3 | 101.79 | 101.13 | 96.16 | 83.5 | 95.13 | 111.14 | 128.92 | 102.25 | 112.19 | 90.53 | 86.45 | 74 | 74.94 | 92.16 | 120.24 | 197.02 | 96.61 | 191.09 | 92.84 | 100.86 | 79.68 | 91.26 | |
| Federal agency and GSE securities2 | 19.28 | 6.32 | 12.45 | 15.23 | 24.3 | 4.68 | 7.19 | 10.33 | 17.39 | 24.08 | 8.3 | 13.34 | 19.85 | 25.82 | 7.29 | 9.49 | 7.75 | 13.96 | 11.53 | 4.82 | 11.01 | 17.81 | 36.09 | 24.08 | 29.16 | 40.24 | 26.07 | 9.3 | 15.35 | 15.9 | 31.86 | |
| Federal agency mortgage-backed securities | 18.3 | 5.71 | 12.13 | 14.66 | 23.81 | 4.16 | 6.27 | 6.86 | 17.1 | 22.95 | 7.46 | 12.52 | 18.7 | 24.19 | 5.51 | 9.06 | 7.44 | 12.8 | 11.13 | 4.31 | 10.14 | 17.44 | 35.91 | 22.67 | 28.68 | 39.99 | 25.55 | 8.04 | 14.89 | 15.44 | 31.67 | |
| Federal agency securities excluding MBS | 0.98 | 0.62 | 0.32 | 0.57 | 0.49 | 0.52 | 0.92 | 3.48 | 0.29 | 1.14 | 0.84 | 0.82 | 1.15 | 1.63 | 1.78 | 0.43 | 0.31 | 1.16 | 0.41 | 0.51 | 0.88 | 0.37 | 0.18 | 1.41 | 0.48 | 0.25 | 0.52 | 1.26 | 0.46 | 0.46 | 0.19 | |
| Corporate securities | 33.05 | 26.97 | 31.08 | 35.86 | 44.37 | 37.68 | 57.18 | 34.84 | 35.05 | 38.72 | 45.54 | 43.77 | 38.29 | 26.13 | 31.22 | 28.9 | 30.28 | 33.68 | 30.53 | 45.58 | 27.66 | 32.21 | 28.43 | 29.37 | 31.86 | 35.43 | 40.26 | 32.84 | 30.71 | 29.59 | 39.8 | |
| Other mortgage-backed securities | 3.26 | 2.74 | 4.45 | 3.84 | 3.69 | 3.44 | 3.32 | 5.01 | 3.04 | 2.52 | 2.31 | 3.21 | 2.99 | 3.6 | 3.66 | 3.05 | 2.29 | 2.98 | 1.84 | 1.91 | 3 | 4.37 | 2.3 | 1.5 | 3.57 | 3.73 | 4.3 | 3.48 | 3.69 | 3.46 | 5.38 | |
| FAILS TO RECEIVE1 | ||||||||||||||||||||||||||||||||
| Total4 | 225.34 | 167.13 | 137.58 | 144.89 | 177.85 | 170.03 | 169.04 | 139.26 | 153.11 | 196.16 | 180.66 | 170.69 | 168.78 | 167.08 | 173.38 | 177 | 164.31 | 179.82 | 152.6 | 137.81 | 120.24 | 141.35 | 169.85 | 188.02 | 268.44 | 182.09 | 260.88 | 136.37 | 138.16 | 117.34 | 170.26 | |
| Treasury securities2 | 172.02 | 134.17 | 97.63 | 94.72 | 107.7 | 130.84 | 110.23 | 88.16 | 102.81 | 131.61 | 131.08 | 117.92 | 105.76 | 110.72 | 134.38 | 140.46 | 128.4 | 134.54 | 112.25 | 92.35 | 80.85 | 90.07 | 112.79 | 142.73 | 224.84 | 120.31 | 197.15 | 99.68 | 99.51 | 75.26 | 101.11 | |
| Treasury Inflation-Protected Securities (TIPS) | 13.36 | 14.95 | 10.37 | 6.35 | 10.7 | 11.75 | 11.75 | 11.13 | 8.21 | 9.99 | 10.18 | 10.76 | 8.93 | 7.09 | 9.98 | 12.11 | 11.13 | 10.83 | 10.01 | 7.91 | 5.38 | 6.58 | 8.54 | 6.62 | 6.38 | 8.45 | 8.3 | 4.3 | 6.05 | 4.49 | 5.52 | |
| Treasury securities excluding TIPS | 158.65 | 119.22 | 87.26 | 88.37 | 97.01 | 119.09 | 98.48 | 77.03 | 94.61 | 121.61 | 120.9 | 107.16 | 96.83 | 103.63 | 124.4 | 128.35 | 117.27 | 123.71 | 102.24 | 84.44 | 75.47 | 83.49 | 104.25 | 136.11 | 218.46 | 111.86 | 188.86 | 95.38 | 93.46 | 70.77 | 95.59 | |
| Federal agency and GSE securities2 | 22.46 | 10.36 | 12.8 | 18.88 | 28.57 | 4.72 | 9.26 | 13.41 | 17.95 | 26.54 | 11.06 | 15.06 | 21.79 | 30.58 | 8.32 | 8.66 | 11.52 | 19.25 | 12.41 | 5.76 | 13.04 | 19.42 | 27.46 | 15.23 | 14.12 | 28.58 | 26.52 | 8.65 | 10.71 | 18.34 | 34.77 | |
| Federal agency mortgage-backed securities | 22.05 | 10.02 | 12.58 | 18.7 | 28.32 | 4.57 | 9.03 | 10.08 | 17.82 | 25.53 | 10.63 | 14.53 | 20.48 | 29.76 | 7.33 | 8.39 | 11.3 | 18.71 | 12.29 | 5.43 | 13.01 | 19.24 | 27.4 | 10.14 | 13.99 | 28.44 | 26.19 | 8.33 | 10.49 | 18.26 | 34.28 | |
| Federal agency securities excluding MBS | 0.4 | 0.34 | 0.22 | 0.17 | 0.25 | 0.14 | 0.23 | 3.34 | 0.13 | 1.02 | 0.43 | 0.53 | 1.32 | 0.82 | 0.99 | 0.27 | 0.22 | 0.53 | 0.11 | 0.32 | 0.03 | 0.18 | 0.06 | 5.1 | 0.13 | 0.14 | 0.34 | 0.32 | 0.22 | 0.08 | 0.49 | |
| Corporate securities | 27.27 | 20.64 | 24.13 | 28.31 | 39.18 | 31.53 | 46.05 | 29.81 | 30.28 | 34.41 | 36.69 | 34.52 | 39.41 | 22.86 | 28.02 | 25.36 | 23.15 | 23.72 | 25.96 | 37.49 | 23.23 | 27.81 | 27.09 | 28.89 | 25.82 | 29.39 | 32.4 | 24.55 | 24.89 | 21.52 | 29.36 | |
| Other mortgage-backed securities | 3.6 | 1.96 | 3.02 | 2.99 | 2.4 | 2.94 | 3.5 | 7.88 | 2.07 | 3.6 | 1.83 | 3.19 | 1.82 | 2.92 | 2.67 | 2.52 | 1.24 | 2.31 | 1.98 | 2.21 | 3.12 | 4.05 | 2.52 | 1.16 | 3.66 | 3.81 | 4.81 | 3.49 | 3.06 | 2.22 | 5.02 |
Latest reading
Total stood at 229.81 USD billion in Sep 16, 2026. That is +39.8% from Sep 9, 2026 and +33.7% from a year earlier. The series on this page is weekly and runs from Jan 7, 2015 to Sep 16, 2026. Source: Office of Financial Research (Short-term Funding Monitor).
- Latest
- 229.81 USD billion
- Sep 16, 2026
- vs previous period
- +39.8%
- Sep 9, 2026
- vs a year earlier
- +33.7%
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Pick a date between Jan 7, 2015 and Sep 16, 2026 to see every series in this table on that day. If there is no reading that day (weekend, holiday, or a weekly release), the last reading before it is shown.
About this data
US Treasury fails to deliver and receive statistics from the OFR. This daily table measures settlement failures for Treasury securities, agency debt, corporate bonds, and mortgage-backed securities in USD billion. Published by the Office of Financial Research since 2015, it tracks operational frictions and market liquidity stress.
Frequently asked questions
- What do US Treasury fails to deliver measure?
- They measure the total value of securities transactions that primary dealers failed to deliver or receive on the settlement date in the United States. This indicates clearing and settlement friction rather than price changes.
- How often is the US Treasury settlement fails data published and how far back does it go?
- It is published daily and historical series start from 2015, capturing operational bottlenecks across multiple asset classes.
- Which asset classes are included in the settlement fails breakdowns?
- The data is broken down by Treasury securities including TIPS, federal agency and GSE securities, corporate securities, and mortgage-backed securities.
- How does this table differ from other US bond market indicators?
- Unlike yields or spreads that measure borrowing costs, settlement fails highlight collateral scarcity and operational bottlenecks in the clearing process.
