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 Report on U.S. Portfolio Holdings of Foreign Securities at End-Year 2011


10/31/2012

​ 

WASHINGTON – The findings from an annual survey of U.S. portfolio holdings of foreign securities at year-end 2011 were released today and posted on the Treasury web site at http://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 on June 30, 2012, are currently being processed. Preliminary results are expected to be reported on February 28, 2013.


Overall Results

This survey measured the value of U.S. portfolio holdings of foreign securities at year-end 2011 as approximately $6.8 trillion, with $4.5 trillion held in foreign equity, $2.0 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 2010, also measured U.S. holdings of approximately $6.8 trillion, with $4.6 trillion held in foreign equity, $1.7 trillion held in foreign long-term debt securities, and $0.4 trillion held in foreign short-term debt securities. The relative stability in U.S. portfolio holdings between the two surveys primarily reflects two offsetting factors: valuation losses on holdings of foreign equity reduced the value of U.S. holdings, but reporting coverage expanded significantly in the 2011 survey.

U.S. portfolio holdings of foreign securities by country at the end of 2011 were the largest for the United Kingdom ($989 billion), followed by Canada ($736 billion), the Cayman Islands ($709 billion), and Japan ($509 billion) (see Table 2). These four countries attracted 43 percent of total U.S. portfolio investment. 

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, 2010

Dec. 31, 2011

 

 

 

Long-term Securities

6,362

6,480

                Equity

4,647

4,501

                Long-term debt

1,715

1,979

Short-term debt securities

402

360

 

 

 

Total

6,763

6,841

 

 

 

 

U.S. Portfolio Investment by Country

 

Table 2.  Market value of U.S. holdings of foreign securities, by country and type of security, for the countries attracting the most U.S. investment, as of December 30, 2011 [2]

 

Billions of dollars

Country or category

Total

Equity

Debt

Total

Long-term

Short-term

United Kingdom

989

642

347

285

62

Canada

736

359

378

329

48

Cayman Islands

709

488

221

218

3

Japan

509

391

117

57

60

Australia

334

129

205

142

63

France

306

209

97

88

8

Switzerland

292

278

14

5

9

Germany

266

174

92

82

10

Netherlands

242

119

122

110

13

Brazil

196

155

42

41

*

Bermuda

161

135

26

25

*

Ireland

149

114

35

35

*

Korea, South

146

117

30

28

2

Hong Kong

116

112

3

3

*

Sweden

115

54

62

34

28

Rest of world

1,574

1,026

549

496

53

Total

6,841

4,501

2,339

1,979

360

*     Greater than zero but less than $500 million.

 

 

 

 


























[1] The stock of foreign securities for December 30, 2011, reported in this survey may not, for a number of reasons, correspond to the stock of foreign securities on December 31, 2010, 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 2011.

 

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

 

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