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10/18/2023

Treasury International Capital Data for August | U.S. Department of the Treasury

Treasury International Capital Data for August
October 18, 2023

WASHINGTON – The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for August
2023. The next release, which will report on data for September 2023, is scheduled for November 16, 2023.
The sum total in August of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows
was a net TIC inflow of $134.4 billion. Of this, net foreign private inflows were $140.9 billion, and net foreign o icial outflows
were $6.5 billion.
Foreign residents increased their holdings of long-term U.S. securities in August; net purchases were $61.3 billion. Net
purchases by private foreign investors were $56.3 billion, while net purchases by foreign o icial institutions were $5.0 billion.
U.S. residents decreased their holdings of long-term foreign securities, with net sales of $2.2 billion.
A er including adjustments, such as estimated foreign portfolio acquisitions of U.S. stocks through stock swaps, overall net
foreign purchases of long-term securities are estimated to have been $63.5 billion in August.
Foreign residents increased their holdings of U.S. Treasury bills by $39.0 billion. Foreign resident holdings of all dollardenominated short-term U.S. securities and other custody liabilities increased by $39.5 billion.
Banksʼ own net dollar-denominated liabilities to foreign residents increased by $31.4 billion.
Complete data are available on the Treasury website at:
https://home.treasury.gov/data/treasury-international-capital-tic-system
About TIC Data
The monthly data on holdings of long-term securities, as well as the monthly table on Major Foreign Holders of Treasury
Securities, reflect foreign holdings of U.S. securities collected primarily on the basis of custodial data. These data help
provide a window into foreign ownership of U.S. securities, but they cannot attribute holdings of U.S. securities with
complete accuracy. For example, if a U.S. Treasury security purchased by a foreign resident is held in a custodial account in a
third country, the true ownership of the security will not be reflected in the data. The custodial data will also not properly
attribute U.S. Treasury securities managed by foreign private portfolio managers who invest on behalf of residents of other
countries. In addition, foreign countries may hold dollars and other U.S. assets that are not captured in the TIC data. For
these reasons, it is di icult to draw precise conclusions from TIC data about changes in the foreign holdings of U.S. financial
assets by individual countries.
Press Notice TIC for October 2023

T IC MONT HLY REPORTS ON CROSS-B ORDER F INANCIAL F LOW S
(Billions of dollars, not seasonally adjusted)
12 Months
Through
2021

2022

Aug-22

Aug-23

May

Jun

Jul

Aug

Foreigners' Acquisitions of
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Treasury International Capital Data for August | U.S. Department of the Treasury

Long-Term Securities

1

Gross U.S. Sales of
Domestic U.S. Securities

63678.0

61438.4

65466.9

52672.3

4329.8

2

Gross U.S. Purchases of
Domestic U.S. Securities

63085.9

60443.7

64700.4

51484.3

4278.0

3

Domestic Securities, net
U.S. sales (line 1 less line 2)
/1

592.0

994.7

766.5

1188.0

458.4

1005.5

735.4

5

Treasury
Bonds
&
Notes,
net

129.6

927.3

6

Gov't
Agency
Bonds,
net

144.5

7

Corporate
Bonds,
132.6
net

8

Equities,
net

4395.9

4693.2

4488.8

4349.6

4631.9

51.8

233.6

46.3

61.3

1077.2

13.7

180.0

59.5

56.3

763.8

596.5

3.6

32.8

19.0

27.5

141.5

127.3

125.4

6.1

12.4

6.9

12.9

147.3

118.9

187.3

43.1

29.9

12.7

17.4

51.7

-210.6

-274.5

168.0

-39.0

104.9

20.8

-1.5

133.6

-10.8

31.1

110.8

38.1

53.6

-13.2

5.0

10

Treasury
Bonds
&
Notes,
net

-47.4

-173.3

-138.2

-14.1

26.8

24.5

-23.4

-5.4

11

Gov't
Agency
Bonds,
net

177.0

162.1

167.7

70.1

5.6

12.3

1.8

1.1

12

Corporate
Bonds, 7.9
net

16.6

20.6

14.8

2.1

1.2

0.4

7.3

13

Equities,
-3.9
net

-16.2

-19.0

40.1

3.6

15.6

8.0

2.0

4

9

Private, net /2

O icial, net /3

4722.4

14

Gross U.S. Sales of Foreign
Securities

26581.1

26835.5

26201.2

18904.7

967.4

1001.0

863.6

993.4

15

Gross U.S. Purchases of
Foreign Securities

26266.7

26509.0

25870.1

18870.1

999.8

1048.4

900.3

991.2

16

Foreign Securities, net U.S.

314.5

326.5

331.1

34.6

-32.4

-47.5

-36.8

2.2

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sales (line 14 less line 15) /4
17

Foreign
Bonds,
net

18

Foreign
Equities, -54.2
net

368.7

281.6

316.5

29.8

-29.2

-13.7

-5.2

0.3

44.9

14.5

4.8

-3.2

-33.8

-31.6

1.9

19

Net Long-Term Securities
Transactions (lines 3 and
16):

906.5

1321.2

1097.6

1222.6

19.4

186.1

9.5

63.5

20

Other Acquisitions of LongTerm Securities, net /5

-437.9

-150.7

-235.7

-55.7

0.0

0.0

0.0

0.0

21

Net Foreign Acquisition of LongTerm Securities
468.6

1170.6

861.9

1166.9

19.4

186.1

9.5

63.5

(lines
19 and
20):

22

23

Increase in Foreign Holdings of Dollar-Denominated
Short-Term
U.S.
Securities
and
Other
168.4
Custody
Liabilities:
/6

194.3

294.1

76.4

-57.6

13.2

85.9

39.5

-39.9

-37.4

4.6

107.2

-17.7

21.3

75.8

39.0

U.S. Treasury Bills

24

Private, net

73.4

-28.5

32.1

99.9

-20.8

39.8

55.2

37.8

25

O icial, net

-113.3

-8.9

-27.5

7.3

3.1

-18.5

20.7

1.2

231.7

289.4

-30.8

-39.9

-8.2

10.1

0.4

26

Other Negotiable
Instruments
and
Selected
Other
208.3
Liabilities:
/7

27

Private, net

220.3

231.0

292.6

-30.4

-38.9

-9.8

5.9

2.7

28

O icial, net

-12.0

0.6

-3.1

-0.4

-1.0

1.6

4.2

-2.3

467.4

241.8

308.0

-153.4

-127.5

-61.3

46.0

31.4

29

Change in Banks' Own Net
Dollar-Denominated Liabilities

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Treasury International Capital Data for August | U.S. Department of the Treasury

Monthly Net Dollar-Denominated
Portfolio Inflows (lines 21, 22, and 29)
/8 /9

1104.4

1606.6

1464.0

1089.9

-165.7

138.0

141.4

134.4

of which
31

Private, net

1034.9

1580.7

1488.3

931.5

-162.7

116.6

150.3

140.9

32

O icial, net

69.5

25.9

-24.4

158.3

-3.1

21.4

-8.9

-6.5

/1

Net U.S. sales = Net foreign purchases of U.S.
securities (+).

/2

Includes international and
regional organizations.

/3

The reported division of net U.S. sales of long-term securities between net sales to foreign o icial
institutions and net sales
to other foreign investors is subject to a "transaction bias" described in Frequently Asked
Questions 7 and 10.a.4 on the TIC website.

/4

Net transactions in foreign securities by U.S. residents. Foreign purchases of foreign securities = U.S. sales of
foreign securities to foreigners.
Thus negative entries indicate net U.S. purchases of foreign securities, or an outflow of capital
from the United States; positive entries
indicate net U.S.
sales of foreign
securities.

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Minus estimated unrecorded principal repayments to foreigners on domestic corporate and agency assetbacked securities (zero a er Jan. 2023) +
estimated foreign acquisitions of U.S. equity through stock swaps - estimated U.S. acquisitions of
foreign equity through stock swaps +
increase in nonmarketable Treasury Bonds and Notes Issued to O icial Institutions and Other
Residents of Foreign Countries.

/6

These are primarily data on monthly changes in banks' and broker/dealers' custody liabilities. Data on custody
claims are collected
quarterly and
published in the
TIC website.

/7

"Selected Other Liabilities" are primarily the foreign liabilities of U.S. customers that are managed by U.S.
banks or broker/dealers.

/8

TIC data cover most components of international financial flows, but do not include data on direct
investment flows, which are collected
and published by the Department of Commerce's Bureau of Economic Analysis. In addition to the
monthly data summarized here, the
TIC collects quarterly data on some banking and nonbanking assets and liabilities. Frequently
Asked Question 1 on the TIC website
describes the

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scope of TIC data
collection.
9/

Series break at February 2023 for lines 1-21 and the dependent lines 30-32; see TIC press releases of March 15
and April 15, 2023.

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