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11/16/2023 Treasury International Capital Data for September | U.S. Department of the Treasury Treasury International Capital Data for September November 16, 2023 WASHINGTON – The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for September 2023. The next release, which will report on data for October 2023, is scheduled for December 19, 2023. The sum total in September of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC outflow of $67.4 billion. Of this, net foreign private outflows were $62.1 billion, and net foreign o icial outflows were $5.3 billion. Foreign residents decreased their holdings of long-term U.S. securities in September; their net sales were $2.4 billion. Net sales by private foreign investors were $3.5 billion, while net purchases by foreign o icial institutions were $1.1 billion. U.S. residents decreased their holdings of long-term foreign securities, with net sales of $0.7 billion. A er including adjustments, such as estimated foreign portfolio acquisitions of U.S. stocks through stock swaps, overall net foreign sales of long-term securities are estimated to have been $1.7 billion in September. Foreign residents increased their holdings of U.S. Treasury bills by $24.7 billion. Foreign resident holdings of all dollar-denominated short-term U.S. securities and other custody liabilities decreased by $28.6 billion. Banksʼ own net dollar-denominated liabilities to foreign residents decreased by $37.0 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 November 2023 https://home.treasury.gov/news/press-releases/jy1918 1/6 11/16/2023 Treasury International Capital Data for September | 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 Sep-22 Sep-23 Jun Jul Aug Sep 1 Gross U.S. Sales of Domestic U.S. Securities 63678.0 61438.4 64951.7 52177.3 4722.3 4395.9 4724.4 4283.4 2 Gross U.S. Purchases of Domestic U.S. Securities 63085.9 60443.7 64106.0 51086.4 4488.7 4349.6 4664.4 4285.8 3 Domestic Securities, net U.S. sales (line 1 less line 2) /1 592.0 994.7 845.7 1091.0 233.6 46.3 60.0 -2.4 Foreigners' Acquisitions of Long-Term Securities 4 Private, net /2 458.4 1005.5 837.3 956.0 180.0 59.5 55.0 -3.5 5 Treasury Bonds & Notes, net 129.6 927.3 852.8 465.4 32.8 19.0 27.1 -32.7 6 Gov't Agency Bonds, net 144.5 141.5 125.3 133.5 12.4 6.9 12.9 22.9 7 Corporate Bonds, net 132.6 147.3 124.9 195.3 29.9 12.7 17.4 15.4 8 Equities, net 51.7 -210.6 -265.7 161.8 104.9 20.8 -2.3 -9.2 https://home.treasury.gov/news/press-releases/jy1918 2/6 11/16/2023 9 Treasury International Capital Data for September | U.S. Department of the Treasury 133.6 -10.8 8.3 135.0 53.6 -13.2 5.0 1.1 10 Treasury Bonds & Notes, net -47.4 -173.3 -168.2 38.6 24.5 -23.4 -5.4 15.2 11 Gov't Agency Bonds, net 177.0 162.1 175.2 57.2 12.3 1.8 1.1 0.5 12 Corporate Bonds, net 7.9 16.6 19.0 17.5 1.2 0.4 7.3 0.8 13 Equities, net -3.9 -16.2 -17.7 21.6 15.6 8.0 2.0 -15.4 14 Gross U.S. Sales of Foreign Securities 26581.1 26835.5 26354.7 17323.6 983.3 863.6 993.4 983.4 15 Gross U.S. Purchases of Foreign Securities 26266.7 26509.0 26011.8 17311.4 1030.7 900.3 991.2 982.7 16 Foreign Securities, net U.S. sales (line 14 less line 15) /4 314.5 326.5 342.9 12.2 -47.5 -36.8 2.2 0.7 17 Foreign Bonds, net 368.7 281.6 306.1 18.5 -13.7 -5.2 0.3 0.0 18 Foreign Equities, net -54.2 44.9 36.8 -6.4 -33.8 -31.6 1.9 0.7 19 Net Long-Term Securities Transactions (lines 3 and 16): 906.5 1321.2 1188.6 1103.1 186.1 9.5 62.2 -1.7 -437.9 -144.5 -212.1 -36.4 0.0 0.0 0.0 0.0 20 O icial, net /3 Other Acquisitions of https://home.treasury.gov/news/press-releases/jy1918 3/6 11/16/2023 Treasury International Capital Data for September | U.S. Department of the Treasury Long-Term Securities, net /5 21 Net Foreign Acquisition of Long-Term Securities (lines 19 and 20): 22 1176.7 976.5 1066.7 186.1 9.5 62.2 -1.7 168.4 194.3 296.5 56.9 48.0 51.1 39.5 -28.6 -39.9 -37.4 -8.8 141.3 49.6 47.6 39.0 24.7 Increase in Foreign Holdings of DollarDenominated Short-Term U.S. Securities and Other Custody Liabilities: /6 23 468.6 U.S. Treasury Bills 24 Private, net 73.4 -28.5 26.6 126.8 65.9 29.1 37.8 27.9 25 O icial, net -113.3 -8.9 -35.4 14.5 -16.3 18.5 1.2 -3.3 208.3 231.7 305.3 -84.4 -1.6 3.5 0.4 -53.3 26 Other Negotiable Instruments and Selected Other Liabilities: /7 27 Private, net 220.3 231.0 304.4 -81.2 -3.6 -0.3 2.7 -48.1 28 O icial, net -12.0 0.6 0.9 -3.2 1.9 3.9 -2.3 -5.1 29 Change in Banks' Own Net DollarDenominated Liabilities 467.4 245.6 232.5 -128.7 -61.7 46.3 29.3 -37.0 https://home.treasury.gov/news/press-releases/jy1918 4/6 11/16/2023 30 Treasury International Capital Data for September | U.S. Department of the Treasury Monthly Net DollarDenominated Portfolio Inflows (lines 21, 22, and 29) /8 /9 1104.4 1616.5 1505.5 994.9 172.4 106.9 131.0 -67.4 of which 31 Private, net 1034.9 1590.6 1549.5 830.3 148.4 118.3 137.5 -62.1 32 O icial, net 69.5 25.9 -44.0 164.6 23.9 -11.4 -6.5 -5.3 /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. /5 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. /6 These are primarily data on monthly changes in banks' and broker/dealers' custody liabilities. Data on custody claims are collected https://home.treasury.gov/news/press-releases/jy1918 5/6 11/16/2023 Treasury International Capital Data for September | U.S. Department of the Treasury 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 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/jy1918 6/6
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