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 Preliminary Report on Foreign Holdings of U.S. Securities at End-June 2008


 

February 27, 2009
tg-42

Washington, DC – The U.S. Department of Treasury today released preliminary data from a survey of foreign portfolio holdings of U.S. securities at end-June 2008 on the U.S. Treasury web site at http://www.treas.gov/tic/fpis.html. A revised table on Major Foreign Holders of Treasury Securities, where estimates through end-December 2008 are based in part on survey data, is also released at http://www.treas.gov/tic/ticsec2.html (on line 1 of Part A). Final survey results, which will include additional detail as well as possible revisions to the preliminary data, will be reported on April 30, 2009. The survey was undertaken jointly by the U.S. Treasury, the Federal Reserve Bank of New York, and the Board of Governors of the Federal Reserve System. The next survey will be for end-June 2009, and preliminary data are expected to be released by February 26, 2010.

Complementary surveys measuring U.S. holdings of foreign securities are also carried out annually. Data from the most recent survey, reporting on securities held on year-end 2008, are currently being processed. Preliminary results are expected to be reported by August 31, 2009.

Overall Preliminary Results

The survey measured foreign holdings of U.S. securities as of June 30, 2008, to be $10,324 billion, with $2,969 billion held in U.S. equities, $6,494 billion in U.S. long-term debt securities1 (of which $1,532 billion are holdings of asset-backed securities (ABS) 2 and $4,962 billion are holdings of non-ABS securities), and $861 billion held in U.S. short-term debt securities. The previous survey, conducted as of June 30, 2007, measured total foreign holdings of U.S. securities at $9,772 billion, with holdings of $3,130 billion in U.S. equities, $6,007 billion in U.S. long-term debt securities, and $635 billion in short-term U.S. debt securities (see Table 1).

1. Long-term debt securities have an original term-to-maturity of more than 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 1. Foreign holdings of U.S. securities, by type of security, as of recent survey dates
(Billions of dollars)


Type of Security

June 30, 2007

June 30, 2008

 

 

 

Long-term Securities

9,136

9,463

Equity

3,130

2,969

Long-term debt

6,007

6,494

Asset-backed

1,472

1,532

Other

4,535

4,962

Short-term debt securities

635

861

 

 

 

Total

9,772

10,324

Of which: Official

2,823

3,493

Table 2. 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, 2008
(Billions of dollars)

 

Country or category

Total

Equities

Long-term debt

Short-term

 

 

 

 

ABS

Other

debt

1

Japan

1,250

199

163

823

66

2

China (Mainland)1

1,205

100

376

700

30

3

United Kingdom

864

376

90

375

24

4

Cayman Islands

832

317

230

227

58

5

Luxembourg

657

191

81

315

71

6

Canada

456

20

74

357

5

7

Belgium

441

321

17

86

17

8

Ireland

401

75

76

113

136

9

Switzerland

391

141

30

143

77

10

Netherlands

314

162

25

107

21

11

Middle East Oil Exporters2

312

188

45

70

9

12

Germany

247

71

49

117

10

13

Bermuda

223

*

*

139

84

14

France

222

133

28

47

14

15

Singapore

210

52

59

77

21

16

Australia

162

2

*

159

1

17

Russia

160

94

13

49

5

18

Korea, South

150

11

37

100

2

19

Hong Kong

147

29

19

83

17

20

Taiwan

137

81

9

41

7

21

Norway

133

18

2

96

17

22

British Virgin Islands

131

8

24

89

10

23

Mexico

127

76

25

24

1

24

Brazil

107

53

3

34

17

25

Sweden

88

53

1

32

3

 

Country Unknown

185

1

*

183

1

 

Rest of the World

772

200

59

378

135

 

Total

10,324

2,969

1,532

4,962

861

 

of which: Official

3,493

363

475

2,281

373

1. Excludes Hong Kong, Macau, and Taiwan, which are reported separately.
2. Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates.

REPORTS

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