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2/15/2024

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

Treasury International Capital Data for December
February 15, 2024

WASHINGTON – The U.S. Department of the Treasury today released Treasury International Capital (TIC)
data for December 2023. The next release, which will report on data for January 2024, is scheduled for
March 19, 2024.
The sum total in December of all net foreign acquisitions of long-term securities, short-term U.S.
securities, and banking flows was a net TIC inflow of $139.8 billion. Of this, net foreign private inflows were
$94.1 billion, and net foreign o icial inflows were $45.8 billion.
Foreign residents increased their holdings of long-term U.S. securities in December; their net purchases
were $142.0 billion. Net purchases by private foreign investors were $101.6 billion, while net purchases by
foreign o icial institutions were $40.4 billion.
U.S. residents decreased their holdings of long-term foreign securities, with net sales of $18.2 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 $160.2 billion in
December.
Foreign residents increased their holdings of U.S. Treasury bills by $18.0 billion. Foreign resident holdings
of all dollar-denominated short-term U.S. securities and other custody liabilities decreased by $0.9 billion.
Banksʼ own net dollar-denominated liabilities to foreign residents decreased by $19.4 billion.
Complete data are available on the Treasury website here.
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 February 2024
https://home.treasury.gov/news/press-releases/jy2101

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2/15/2024

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

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

Dec-22

Dec-23

Sep

Oct

Nov

Dec

1

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

61438.4

51966.4

61438.4

51966.4

4235.8

4344.3

4460.6

4172.5

2

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

60443.7

50874.3

60443.7

50874.3

4219.3

4386.9

4337.9

4030.6

3

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

994.7

1092.1

994.7

1092.1

16.5

-42.6

122.8

142.0

1005.5

944.4

1005.5

944.4

15.1

-18.3

157.2

101.6

Foreigners'
Acquisitions of
Long-Term
Securities

4

Private, net
/2

5

Treasury
Bonds &
Notes,
net

927.3

482.6

927.3

482.6

-13.6

46.6

104.7

7.7

6

Gov't
Agency
Bonds,
net

141.5

119.9

141.5

119.9

22.4

0.4

20.9

5.4

7

Corporate
Bonds,
net

147.3

281.2

147.3

281.2

15.4

1.0

31.4

21.7

8

Equities,
net

-210.6

60.7

-210.6

60.7

-9.1

-66.3

0.1

66.7

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

-10.8

147.8

-10.8

147.8

1.4

-24.3

-34.5

40.4

10

Treasury
Bonds &
Notes,
net

-173.3

55.5

-173.3

55.5

15.7

-20.1

-32.3

26.1

11

Gov't
Agency
Bonds,
net

162.1

40.1

162.1

40.1

0.2

5.5

-4.6

-0.8

12

Corporate
Bonds,
net

16.6

23.0

16.6

23.0

0.8

1.8

2.7

2.1

13

Equities,
net

-16.2

29.1

-16.2

29.1

-15.4

-11.5

-0.3

13.0

14

Gross U.S. Sales
of Foreign
Securities

26835.5

13753.7

26835.5

13753.7

983.1

1010.6

993.3

1180.6

15

Gross U.S.
Purchases of
Foreign
Securities

26509.0

13817.1

26509.0

13817.1

982.2

992.1

1016.3

1162.4

16

Foreign
Securities, net
U.S. sales (line
14 less line 15)
/4

326.5

-63.4

326.5

-63.4

0.9

18.5

-23.0

18.2

17

Foreign
Bonds,
net

281.6

-78.0

281.6

-78.0

0.0

-9.4

-9.4

0.0

18

Foreign
Equities,
net

44.9

14.6

44.9

14.6

0.9

27.9

-13.6

18.2

19

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

1321.2

1028.8

1321.2

1028.8

17.4

-24.1

99.7

160.2

-150.7

-9.5

-150.7

-9.5

0.0

0.0

0.0

0.0

20

O icial, net
/3

Other
Acquisitions of

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

Long-Term
Securities, net
/5

21

Net Foreign
Acquisition of
Long-Term
Securities
(lines 19
and 20):

22

1019.3

1170.6

1019.3

17.4

-24.1

99.7

160.2

194.3

-102.9

194.3

-102.9

-25.1

-69.8

33.5

-0.9

-37.4

132.7

-37.4

132.7

24.7

-25.5

29.2

18.0

Increase in Foreign
Holdings of DollarDenominated
Short-Term
U.S.
Securities
and Other
Custody
Liabilities:
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23

1170.6

U.S. Treasury
Bills

24

Private, net

-28.5

121.4

-28.5

121.4

27.9

-25.8

18.0

14.1

25

O icial, net

-8.9

11.3

-8.9

11.3

-3.3

0.3

11.2

4.0

231.7

-235.6

231.7

-235.6

-49.8

-44.3

4.3

-18.9

26

Other
Negotiable
Instruments
and
Selected
Other
Liabilities:
/7

27

Private, net

231.0

-219.2

231.0

-219.2

-37.2

-44.9

3.9

-21.3

28

O icial, net

0.6

-16.4

0.6

-16.4

-12.5

0.6

0.4

2.4

29

Change in Banks'
Own Net DollarDenominated
Liabilities

254.6

-51.9

254.6

-51.9

-33.2

8.4

90.0

-19.4

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

Monthly Net DollarDenominated Portfolio
Inflows (lines 21, 22,
and 29) /8 /9

1619.4

864.5

1619.4

864.5

-40.9

-85.5

223.3

139.8

of
which
31

Private, net

1593.5

678.4

1593.5

678.4

-28.5

-72.1

208.9

94.1

32

O icial, net

25.9

186.0

25.9

186.0

-12.5

-13.4

14.4

45.8

/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 asset-backed 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.

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

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

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
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.

https://home.treasury.gov/news/press-releases/jy2101

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