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 Report On U.S. Portfolio Holdings Of Foreign Securities At End-Year 2016


10/31/2017

WASHINGTON – The findings from the annual survey of U.S. portfolio holdings of foreign securities at year-end 2016 were released today and posted on the Treasury web site at https://www.treasury.gov/resource-center/data-chart-center/tic/Pages/fpis.aspx.

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 is also conducted annually.  Data from the most recent such survey, which reports on securities held at end-June 2017, are currently being processed.  Preliminary results are expected to be reported on February 28, 2018.

Overall Results

This survey measured the value of U.S. portfolio holdings of foreign securities at year-end 2016 as approximately $9.9 trillion, with $7.1 trillion held in foreign equity, $2.4 trillion held in foreign long-term debt securities (original term-to-maturity in excess of one year), and $0.3 trillion held in foreign short-term debt securities.  The previous such survey, conducted as of year-end 2015, measured U.S. holdings of approximately $9.5 trillion, with $6.8 trillion held in foreign equity, $2.3 trillion held in foreign long-term debt securities, and $0.4 trillion held in foreign short-term debt securities.  The increase during 2016 occurred mainly in equity.

U.S. portfolio holdings of foreign securities by country at the end of 2016 were the largest for the Cayman Islands ($1.37 trillion), followed by the United Kingdom ($1.20 trillion), Japan ($854 billion), and Canada ($831 billion) (see Table 2).  These four countries attracted 43 percent of total U.S. portfolio investment, versus 42 percent the previous year.
The surveys are part of an internationally coordinated effort under the auspices of the International Monetary Fund (IMF) to improve the measurement of portfolio asset holdings.

Table 1.  U.S. holdings of foreign securities, by type of security, as of survey dates [1]
(Billions of dollars)

Type of Security

Dec. 31, 2015

Dec. 31, 2016

 

 

 

Long-term Securities

9,103

9,583

            Equity

6,756

7,146

            Long-term debt

2,347

2,436

Short-term debt securities

351

308

Total

9,455

9,891

U.S. Portfolio Investment by Country

Table 2.  Market value of U.S. portfolio holdings of foreign securities, by country and type of security, for countries attracting the most U.S. investment, as of December 31, 2016 [1]
(Billions of dollars)


Country or category

Total

Equity

Debt

Total

Long-term

Short-term

Cayman Islands

1,369

1,020

349

347

2

United Kingdom

1,196

878

318

287

31

Japan

854

695

158

91

67

Canada

831

422

409

333

75

France

496

346

150

127

23

Ireland

462

389

73

67

6

Netherlands

436

263

173

168

6

Switzerland

421

407

14

11

3

Germany

373

293

80

68

12

Australia

296

161

136

110

25

Bermuda

247

217

29

29

0

Korea, South

177

154

23

23

1

Brazil

151

108

43

42

*

Mexico

145

53

92

90

2

Sweden

134

85

49

30

18

India

133

123

10

9

1

Luxembourg

132

54

78

75

3

Taiwan

130

130

*

*

0

Hong Kong [2]

124

118

6

4

2

Singapore

115

100

15

8

7

Rest of world

1,669

1,128

541

516

24

Total

9,891

7,146

2,745

2,436

308

*     Greater than zero but less than $500 million.
Items may not sum to totals due to rounding.

[1] The stock of foreign securities for December 31, 2016, reported in this survey may not, for a number of reasons, correspond to the stock of foreign securities on December 31, 2015, plus cumulative flows reported in Treasury's transactions reporting system.  An analysis of the relationship between the stock and flow data is available in Table 4 and the associated text of the "Report on U.S. Portfolio Holdings of Foreign Securities at end-year 2016."

[2] China, Hong Kong, and Macau are all reported separately.

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