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 Report On U.S. Portfolio Holdings of Foreign Securities at End-Year 2009


10/29/2010

The findings from an annual survey of U.S. portfolio holdings of foreign securities at year-end 2009 were released today and posted on the Treasury web site at (https://auth.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 also is conducted annually.  Data from the most recent such survey, which reports on securities held on June 30, 2010, are currently being processed. Preliminary results are expected to be reported on February 28, 2011.
 
Overall Results
 
This survey measured the value of U.S. portfolio holdings of foreign securities at year-end 2009 of approximately $6.0 trillion, with $4.0 trillion held in foreign equity, $1.6 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 2008, measured U.S. holdings of approximately $4.3 trillion, with $2.7 trillion held in foreign equity, $1.3 trillion held in foreign long-term debt securities and $0.3 trillion held in foreign short-term debt securities. The increase in the value of U.S. portfolio holdings between the two surveys primarily reflects valuation changes in foreign equity during 2009.
 
U.S. portfolio holdings of foreign securities by country at the end of 2009 were the largest for the United Kingdom ($958 billion), followed by Canada ($540 billion), and Japan ($419 billion) (see Table 2). These three countries attracted about one-third of the 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, 2008
Dec. 31, 2009
 
 
 
Long-term Securities
4,009
5,589
                Equity
2,748
3,995
                Long-term debt
1,261
1,594
Short-term debt securities
282
387
 
 
 
Total
4,291
5,977

 

U.S. Portfolio Investment by Country

Table 2.  U.S. 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, 2009

                                               (Billions of dollars, except as noted)

 

 
Country or region
         Total
        Equity
Long-Term Debt
Short-Term Debt
1
United Kingdom
958
562
240
156
2
Canada
540
295
220
  26
3
Japan
419
371
  41
    8
4
Cayman Islands
373
148
217
    8
5
France
362
251
  82
  30
6
Switzerland
305
298
    6
    1
7
Germany
294
193
  80
  21
8
Australia
276
128
107
  41
9
Netherlands
233
109
106
  18
10
Brazil
213
180
  32
*
11
Bermuda
148
121
  27
*
12
Ireland
120
  79
  26
  15
13
Spain
113
  87
  26
*
14
Korea, South
105
  88
  16
    1
15
China, Mainland
102
102
     1
*
16
Luxembourg
  94
  32
  57
    6
17
Hong Kong
  93
  91
     1
*
18
Mexico
  88
  65
   23
*
19
Italy
  79
  59
   16
    4
20
Taiwan
  77
  77
*
    0
21
Sweden
  76
  44
   26
    6
22
India
  65
  62
     3
*
23
Israel
  59
  44
   14
*
24
Netherlands Antilles
  57
  56
     1
*
25
South Africa
  54
  49
     4
0
 
Rest of world
674
 404
 222
  46
 
Total
      5,977
        3,995
       1,594
387

 

 
* Greater than zero, but less than $500 million
 
[1]   The stock of foreign securities for December 31, 2009 reported in this survey may not, for a number of reasons, correspond to the stock of foreign securities on December 31, 2008, plus cumulative flows reported in the Treasury International Capital 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 2009.
 
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