monetary macro
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Who holds U.S. Treasury securities
Marketable Treasury securities by holder · Financial Accounts of the United States
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Source: Federal Reserve, Financial Accounts of the United States (Z.1), Monetary Macro. As of 2026-06-30. Released 2026-10-14.

Holders of Treasury securities from the Federal Reserve's Financial Accounts (Z.1), quarterly from 1952. 'Banks and credit unions' are U.S.-chartered depository institutions, foreign banking offices in the U.S., banks in U.S.-affiliated areas and credit unions; 'Mutual funds, ETFs and hedge funds' are mutual funds, exchange-traded funds, closed-end funds and domestic hedge funds; 'Insurers and pension funds' are property-casualty and life insurers and private, federal and state and local pension funds; 'Other holders' are government-sponsored enterprises, issuers of asset-backed securities, holding companies, central clearing counterparties and nonfinancial businesses. Click a name in the legend to show or hide it; the tooltip totals what is shown.

Amounts outstanding are at the end of the quarter. The holders' sum is not exactly the Treasury's liability: the Fed publishes the difference as the instrument discrepancy (6% in 2026, shown as 'Unallocated'; negative in 2020, when it falls below the axis). Net purchases are the Fed's transactions, at seasonally adjusted annual rates, and add exactly to net issuance.

Rest of the world is the Fed's measure of foreign holdings. In the last two years it is within 1% of the Treasury Department's TIC survey, which the other charts of this module draw on.