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HP-977
Treasury International Capital (TIC) data for March 2008 are released today and posted on the U.S. Treasury website ( www.treas.gov/tic). The next release, which will report on data for April, is scheduled for June 16, 2008.
Net foreign purchases of long-term securities were $80.4 billion.
- Net foreign purchases of long-term U.S. securities were $80.2 billion. Of this, net purchases by foreign official institutions were $48.1 billion, and net purchases by private foreign investors were $32.1 billion.
- U.S. residents sold a net $0.3 billion of long-term foreign securities.
Net foreign acquisition of long-term securities, taking into account adjustments, is estimated to have been $54.2 billion.
Foreign holdings of dollar-denominated short-term U.S. securities, including Treasury bills, and other custody liabilities increased $13.5 billion. Foreign holdings of Treasury bills increased $27.8 billion.
Banks’ own net dollar-denominated liabilities to foreign residents declined $115.9 billion.
Monthly net TIC flows were negative $48.2 billion. Of this, net foreign private flows were negative $57.6 billion, and net foreign official flows were $9.3 billion.
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| | | | TIC Monthly Reports on Cross-Border Financial Flows |
| | | | (Billions of dollars, not seasonally adjusted) |
| | | | | | | | | 12 Months Through | | | | |
| | | | | | | 2006 | 2007 | Mar-07 | Mar-08 | Dec-07 | Jan-08 | Feb-08 | Mar-08 |
| | | Foreigners' Acquisitions of Long-term Securities | | | | | | | | |
| | | | | | | | | | | | | | |
| 1 | | | Gross Purchases of Domestic U.S. Securities | 21077.1 | 29729.8 | 22645.7 | 32265.1 | 2314.1 | 3137.9 | 2922.6 | 3075.4 |
| 2 | | | Gross Sales of Domestic U.S. Securities | 19933.9 | 28725.1 | 21478.8 | 31337.4 | 2244.7 | 3061.5 | 2844.7 | 2995.2 |
| 3 | | | Domestic Securities Purchased, net (line 1 less line 2) /1 | 1143.2 | 1004.6 | 1166.9 | 927.7 | 69.4 | 76.4 | 77.9 | 80.2 |
| | | | | | | | | | | | | | |
| 4 | | | | Private, net /2 | 946.6 | 816.9 | 964.9 | 677.8 | 33.6 | 23.6 | 71.1 | 32.1 |
| 5 | | | | | Treasury Bonds & Notes, net | 125.9 | 198.2 | 175.9 | 183.5 | -9.1 | 0.4 | 24.2 | 27.0 |
| 6 | | | | | Gov't Agency Bonds, net | 193.8 | 107.0 | 156.0 | 144.5 | -7.4 | 19.9 | 35.7 | 2.7 |
| 7 | | | | | Corporate Bonds, net | 482.2 | 331.3 | 508.3 | 202.3 | 29.1 | -0.6 | 14.9 | -8.7 |
| 8 | | | | | Equities, net | 144.6 | 180.4 | 124.8 | 147.5 | 21.0 | 3.8 | -3.7 | 11.1 |
| | | | | | | | | | | | | | |
| 9 | | | | Official, net /3 | 196.6 | 187.7 | 202.0 | 249.9 | 35.8 | 52.8 | 6.7 | 48.1 |
| 10 | | | | | Treasury Bonds & Notes, net | 69.6 | 3.0 | 54.9 | 64.8 | 11.0 | 36.1 | -3.6 | 28.0 |
| 11 | | | | | Gov't Agency Bonds, net | 92.6 | 119.1 | 112.4 | 99.5 | 4.1 | -0.6 | 1.2 | 15.5 |
| 12 | | | | | Corporate Bonds, net | 28.6 | 50.6 | 30.7 | 52.2 | 8.2 | 3.9 | 4.4 | 4.1 |
| 13 | | | | | Equities, net | 5.8 | 15.1 | 4.0 | 33.5 | 12.5 | 13.3 | 4.8 | 0.4 |
| | | | | | | | | | | | | | |
| 14 | | | Gross Purchases of Foreign Securities from U.S. Residents | 5515.9 | 8188.1 | 6031.9 | 8559.9 | 600.2 | 770.5 | 683.0 | 751.9 |
| 15 | | | Gross Sales of Foreign Securities to U.S. Residents | 5766.8 | 8411.3 | 6308.9 | 8741.1 | 612.6 | 790.1 | 696.0 | 751.6 |
| 16 | | | Foreign Securities Purchased, net (line 14 less line 15) /4 | -250.9 | -223.2 | -277.1 | -181.2 | -12.4 | -19.7 | -12.9 | 0.3 |
| | | | | | | | | | | | | | |
| 17 | | | | | Foreign Bonds Purchased, net | -144.5 | -127.9 | -169.4 | -98.3 | -12.4 | -17.3 | 5.3 | 4.2 |
| 18 | | | | | Foreign Equities Purchased, net | -106.5 | -95.3 | -107.7 | -82.9 | 0.0 | -2.3 | -18.3 | -4.0 |
| | | | | | | | | | | | | | |
| 19 | | | Net Long-Term Securities Transactions (line 3 plus line 16): | 892.3 | 781.5 | 889.9 | 746.5 | 57.0 | 56.7 | 64.9 | 80.4 |
| | | | | | | | | | | | | | |
| 20 | | | Other Acquisitions of Long-term Securities, net /5 | -174.6 | -234.2 | -195.4 | -236.2 | -13.8 | -17.9 | -15.4 | -26.3 |
| | | | | | | | | | | | | | |
| 21 | | Net Foreign Acquisition of Long-Term Securities | | | | | | | | |
| | | | | | (lines 19 and 20) : | 717.7 | 547.2 | 694.5 | 510.2 | 43.2 | 38.8 | 49.6 | 54.2 |
| | | | | | | | | | | | | | |
| 22 | | Increase in Foreign Holdings of Dollar-denominated Short-term | | | | | | | | |
| | | | | | U.S. Securities and Other Custody Liabilities: /6 | 146.2 | 226.1 | 197.1 | 257.7 | 43.9 | 76.3 | -0.7 | 13.5 |
| 23 | | | U.S. Treasury Bills | -9.0 | 48.8 | -0.6 | 76.1 | 15.1 | 11.6 | 14.6 | 27.8 |
| 24 | | | | Private, net | 16.1 | 29.3 | 19.5 | 69.9 | 4.0 | 0.8 | 17.4 | 30.9 |
| 25 | | | | Official, net | -25.0 | 19.5 | -20.0 | 6.2 | 11.1 | 10.8 | -2.8 | -3.0 |
| 26 | | | Other Negotiable Instruments | | | | | | | | |
| | | | | | and Selected Other Liabilities: /7 | 155.1 | 177.3 | 197.6 | 181.6 | 28.8 | 64.8 | -15.4 | -14.3 |
| 27 | | | | Private, net | 174.9 | 101.2 | 194.0 | 111.4 | 27.7 | 57.9 | -9.8 | -7.1 |
| 28 | | | | Official, net | -19.8 | 76.1 | 3.7 | 70.2 | 1.0 | 6.9 | -5.6 | -7.2 |
| | | | | | | | | | | | | | |
| 29 | | Change in Banks' Own Net Dollar-Denominated Liabilities | 198.0 | -108.6 | -53.1 | -281.9 | -4.6 | -80.3 | 0.1 | -115.9 |
| | | | | | | | | | | | | | |
| 30 | Monthly Net TIC Flows (lines 21,22,29) /8 | 1061.8 | 664.7 | 838.4 | 485.9 | 82.4 | 34.8 | 48.9 | -48.2 |
| | | of which | | | | | | | | | |
| 31 | | | Private, net | 923.0 | 377.8 | 645.0 | 206.8 | 31.6 | -42.0 | 58.4 | -57.6 |
| 32 | | | Official, net | 138.9 | 286.8 | 193.4 | 279.2 | 50.8 | 76.7 | -9.5 | 9.3 |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| /1 | | | Net foreign purchases of U.S. securities (+) | | | | | | | | |
| /2 | | | Includes international and regional organizations | | | | | | | | |
| /3 | | | The reported division of net purchases of long-term securities between net purchases by foreign official institutions and net purchases |
| | | | | of 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 + | |
| | | | | 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 Official 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 Treasury Bulletin and 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. | | | | | | | | |
REPORTS
