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10/31/2020 Report on U.S. Portfolio Holdings of Foreign Securities at End-Year 2019 | U.S. Department of the Treasury Report on U.S. Portfolio Holdings of Foreign Securities at EndYear 2019 October 30, 2020 Washington – The findings from the annual survey of U.S. portfolio holdings of foreign securities at year-end 2019 were released today and posted on the Treasury web site at https://www.treasury.gov/resource-center/data-chart-center/tic/Pages/shcreports.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 endJune 2020, are currently being processed. Preliminary results are expected to be reported on February 26, 2021. OVERALL RESULTS This survey measured the value of U.S. portfolio holdings of foreign securities at year-end 2019 as approximately $13.1 trillion, with $9.5 trillion held in foreign equity, $3.1 trillion held in foreign long-term debt securities (original term-to-maturity in excess of one year), and $0.5 trillion held in foreign short-term debt securities. The previous such survey, conducted as of year-end 2018, measured U.S. holdings of approximately $11.3 trillion, with $7.9 trillion held in foreign equity, $2.9 trillion held in foreign long-term debt securities, and $0.5 trillion held in foreign short-term debt securities. The increase in 2019 was mainly in equity (see Table 1). U.S. portfolio holdings of foreign securities by country at the end of 2019 were the largest for the Cayman Islands ($2.00 trillion), followed by the United Kingdom ($1.52 trillion), Japan ($1.15 trillion), and Canada ($1.10 trillion) (see Table 2). These four countries attracted 44 percent of total U.S. portfolio investment, versus 45 percent the previous year. The surveys are part of an internationally coordinated e ort under the auspices of the International Monetary Fund (IMF) to improve the measurement of portfolio asset holdings. https://home.treasury.gov/news/press-releases/sm1170 1/4 10/31/2020 Report on U.S. Portfolio Holdings of Foreign Securities at End-Year 2019 | U.S. Department of the Treasury TAB LE 1. U.S. HOLDINGS OF F OREIGN SECURITIES, B Y TYPE OF SECURITY, AS OF SURVEY DATES [1] (Billions of dollars) Type of Security December 31, 2018 December 31, 2019 Long-term Securities 10,793 12,617 Equity 7,899 9,478 Long-term debt 2,894 3,139 Short-term debt securities 502 470 Total 11,295 13,087 U.S. PORTF OLIO INVESTMENT B Y 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, 2019 [1] (Billions of dollars) Debt Country or category Total Equity Total Long-term Short-term Cayman Islands2,000,801 1,501,486 499,315 494,479 4,836 United Kingdom1,517,165 1,013,549 503,616 411,510 92,106 https://home.treasury.gov/news/press-releases/sm1170 2/4 10/31/2020 Report on U.S. Portfolio Holdings of Foreign Securities at End-Year 2019 | U.S. Department of the Treasury Japan 1,147,091 926,921 220,171 164,225 55,946 Canada 1,097,840 592,702 505,138 394,631 110,507 France 661,756 468,257 193,499 167,974 25,525 Ireland 647,745 560,508 87,237 78,236 9,001 Switzerland 596,729 551,901 44,828 42,195 2,633 Netherlands 572,862 370,537 202,324 188,336 13,988 Germany 467,164 380,907 86,257 70,437 15,820 Australia 366,041 201,612 164,429 120,589 43,840 Bermuda 274,844 239,412 35,431 35,397 34 Korea, South 231,202 211,615 19,588 19,354 234 China, mainland222,282 (1) 204,252 18,030 15,197 2,833 Taiwan 214,872 214,803 69 69 0 India 200,659 185,107 15,552 14,547 1,005 Brazil 197,708 168,530 29,178 28,624 554 Hong Kong 180,713 170,834 9,879 7,219 2,660 Spain 162,493 115,112 47,381 44,210 3,171 Luxembourg 156,693 81,251 75,442 71,923 3,519 Sweden 155,408 110,172 45,235 29,852 15,383 Rest of world 2,015,293 1,208,546 806,748 740,466 66,282 Total 9,478,014 3,609,347 3,139,470 469,877 13,087,361 https://home.treasury.gov/news/press-releases/sm1170 3/4 10/31/2020 * Report on U.S. Portfolio Holdings of Foreign Securities at End-Year 2019 | U.S. Department of the Treasury 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, 2019, reported in this survey may not, for a number of reasons, correspond to the stock of foreign securities on December 31, 2018, plus cumulative flows reported in Treasury’s transactions reporting system. An analysis of the relationship between the stock and flow data is available in Exhibit 4 and the associated text of “U.S. Portfolio Holdings of Foreign Securities as of End-December 2019.” [2] China, Hong Kong, and Macau are all reported separately. https://home.treasury.gov/news/press-releases/sm1170 4/4
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