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Preliminary Report on Foreign Holdings of U.S. Securities at End-June 2022

Washington – Preliminary data from the June 2022 benchmark survey of foreign portfolio holdings of U.S. securities were released today on the Treasury website at https://home.treasury.gov/data/treasury-international-capital-tic-system/us-liabilities-to-foreigners-from-holdings-of-us-securities.  Final survey results, which will include additional detail as well as possible revisions to the preliminary data, will be reported on April 28, 2023.  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 next annual survey will cover holdings at the end of June 2023; preliminary data are expected to be released by February 29, 2024.

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 2022, are currently being processed.  Preliminary results are expected to be reported by August 31, 2023.

Overall Preliminary Results

The survey measured the value of foreign holdings of U.S. securities as of June 30, 2022, to be $25,282 billion, with $12,238 billion held in U.S. equities, $11,914 billion held in U.S. long-term debt securities [1] (of which $1,649 billion are holdings of asset-backed securities (ABS) [2] and $10,265 billion are holdings of non-ABS securities), and $1,130 billion held in U.S. short-term debt securities.  The previous survey, conducted as of June 30, 2021, measured the value of total foreign holdings of U.S. securities at $27,190 billion, with holdings of $13,705 billion in U.S. equities, $12,409 billion in U.S. long-term debt securities, and $1,077 billion in U.S. short-term debt securities (see Table A).

[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, these securities generally repay both principal and interest on a regular basis, reducing the principal outstanding with each payment cycle.

 

Table A.  Foreign holdings of U.S. securities, by type of security, as of recent survey dates

(Billions of dollars)

Type of security

June 30, 2021

 

June 30, 2022

Long-term securities

26,114

 

 

24,152

 

  Equities

 

13,705

 

 

12,238

  Long-term debt

 

12,409

 

 

11,914

    Asset-backed

 

1,562

 

 

1,649

    Other

 

10,847

 

 

10,265

Short-term debt securities

1,077

 

 

1,130

 

Total

27,190

 

 

25,282

 

Of which: Official

6,471

 

 

5,946

 

 

 

Table B.  Foreign holdings of U.S. securities, by country and type of security,

for the major investing countries into the U.S., as of June 30, 2022

(Billions of dollars)

   

Total

Equities

   Long-term debt

Short

       

ABS

Other

-term

1

United Kingdom

2,469

1319

132

927

92

2

Japan

2,366

728

249

1316

73

3

Cayman Islands

2,313

1,365

107

697

144

4

Luxembourg

2,096

1026

66

874

130

5

Canada

1,850

1348

111

371

21

6

China, mainland [i]

1,473

273

242

956

2

7

Ireland

1,399

752

62

403

182

8

Switzerland

1016

629

21

334

32

9

Belgium

874

76

16

740

41

10

Taiwan

697

100

225

366

7

11

France

636

308

29

282

18

12

Australia

573

471

13

81

9

13

Singapore

560

324

18

208

11

14

Norway

546

387

*

158

1

15

Korea, South

536

331

41

144

20

16

Germany

524

313

13

190

8

17

Bermuda

479

127

160

153

39

18

Netherlands

457

305

16

134

2

19

Hong Kong

391

142

11

215

23

20

Kuwait

344

241

6

56

41

21

Sweden

337

280

*

56

1

22

Saudi Arabia

311

181

2

108

20

23

Brazil

245

18

*

226

1

24

India

218

8

*

206

3

25

British Virgin Islands

214

129

3

73

8

   

 

 

 

 

 

 

Rest of world

2,358

1058

107

991

202

 

Total

25,282

12,238

1,649

10,265

1,130

 

of which: Foreign official

5,946

1,290

652

3,757

247

 

*  Less than $500 million but more than zero.

[i].  Excludes Hong Kong, Macau, and Taiwan, which are reported separately.

Official news published at https://home.treasury.gov/news/press-releases/jy1311

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