Preliminary Annual Report on U.S. Holdings of Foreign Securities at Year-End 2023

Washington - Preliminary data from an annual survey of U.S. portfolio holdings of foreign securities at year-end 2023 were released today and posted on the Treasury web site at (https://home.treasury.gov/data/treasury-international-capital-tic-system/tic-forms-instructions/us-claims-on-foreigners-from-holdings-of-foreign-securities). The final survey report, which will include additional detail as well as possible revisions to the data, will be released on October 31, 2024.

The survey was undertaken jointly by the U.S. Department of the Treasury, the Federal Reserve Bank of New York, and the Board of Governors of the Federal Reserve System.

A complementary survey measuring foreign holdings of U.S. securities also is conducted annually. Data from the most recent such survey, which reports on securities held on June 30, 2024, are currently being processed. Preliminary results are expected to be reported on February 28, 2025.

Overall Preliminary Results

The survey measured the value of U.S. holdings of foreign securities at year-end 2023 at approximately $15.3 trillion, with $11.5 trillion held in foreign equities, $3.4 trillion held in foreign long-term debt securities (original term-to-maturity in excess of one year), and $0.4 trillion held in foreign short-term debt securities. The previous such survey, conducted as of year-end 2022, measured the value of U.S. holdings at $14.0 trillion, with $10.3 trillion held in foreign equities, $3.3 trillion held in foreign long-term debt securities, and $0.4 trillion held in foreign short-term debt securities.

Press Release for end of August

Table 1. U.S. portfolio holdings of foreign securities, by type of security, as of survey dates

(Billions of dollars)

Type of Security	Dec. 31, 2022	Dec. 31, 2023
Long-term securities	13,563	14,915
Equities	10,280	11,483
Long-term debt	3,283	3,433
Short-term debt securities	447	422
Total	14,009	15,338

Table 2. U.S. portfolio holdings of foreign securities, by country of issuer and type of security, for the countries attracting the most U.S. portfolio investment, as of December 31, 2023

(Market value, billions of dollars, except as noted)

				Total		Equity		Long-Term Debt		Short-Term Debt
1		Cayman Islands		2,655		1,925		720		9
2		United Kingdom		1,491		1,061		383		47
3		Canada		1,391		839		452		100
4		Japan		1,218		991		184		43
5		Ireland		924		823		79		23
6		France		816		597		173		46
7		Netherlands		668		508		152		8
8		Switzerland		655		608		46		1
9		Germany		514		418		79		17
10		Australia		442		269		132		41
11		India		352		342		10		*
12		Taiwan		316		316		*		0
13		Bermuda		267		216		52		*
14		Korea, South		253		227		25		*
15		Luxembourg		238		172		61		4
16		Denmark		219		206		12		*
17		China, mainland (1)		217		202		15		*
18		Sweden		197		156		19		21
19		Jersey		192		145		47		0
20		Brazil		181		157		23		1
21		Spain		173		122		49		2
22		Mexico		163		95		68		*
23		Italy		155		107		48		*
24		International organizations		137		1		127		10
25		Singapore		121		74		30		18
26		Hong Kong		104		97		5		1
27		Israel		89		73		16		1
28		Norway		75		38		25		12
29		Indonesia		70		41		29		0
30		Belgium		63		48		13		2
		Rest of world		983		610		358		16
		Total		15,338		11,483		3,433		422

* Between zero and $500 million. (1) China excludes Hong Kong and Macau, which are reported separately.

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