REPORT ON U.S. PORTFOLIO HOLDINGS OF FOREIGN SECURITIES AT END-YEAR 2012
WASHINGTON – The findings from the annual survey of U.S. portfolio holdings of foreign securities at year-end 2012 were released today and posted on the Treasury web site at http://www.treasury.gov/resource-center/data-chart-center/tic/Pages/fpis.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 end-June 2013, are currently being processed. Preliminary results are expected to be reported on February 28, 2014.
Overall Results
This survey measured the value of U.S. portfolio holdings of foreign securities at year-end 2012 as approximately $7.9 trillion, with $5.3 trillion held in foreign equity, $2.3 trillion held in foreign long-term debt securities (original term-to-maturity in excess of one year), and _test.4 trillion held in foreign short-term debt securities. The previous such survey, conducted as of year-end 2011, measured U.S. holdings of approximately $6.8 trillion, with $4.5 trillion held in foreign equity, $2.0 trillion held in foreign long-term debt securities, and _test.4 trillion held in foreign short-term debt securities. The largest gain occurred in equities, reflecting gains in global stock markets.
U.S. portfolio holdings of foreign securities by country at the end of 2012 were the largest for the United Kingdom ($1.129 trillion), followed by Canada ($808 billion), the Cayman Islands ($797 billion), and Japan ($521 billion) (see Table 2). These four countries attracted 41 percent of total U.S. portfolio investment.
The surveys are part of an internationally coordinated effort under the auspices of the International Monetary Fund (IMF) to improve the measurement of portfolio asset holdings.
Table 1. U.S. holdings of foreign securities, by type of security, as of survey dates [1]
(Billions of dollars)
|
Type of Security |
Dec. 31, 2011 |
Dec. 31, 2012 |
|
|
|
|
|
Long-term Securities |
6,480 |
7,576 |
|
Equity |
4,501 |
5,312 |
|
Long-term debt |
1,979 |
2,265 |
|
Short-term debt securities |
360 |
365 |
|
|
|
|
|
Total |
6,841 |
7.941 |
|
|
|
|
U.S. Portfolio Investment by Country
|
Billions of dollars |
|||||
|
Total |
Equity |
Debt |
|||
|
Total |
Long-term |
Short-term |
|||
|
United Kingdom |
1,129 |
758 |
370 |
296 |
74 |
|
Canada |
808 |
376 |
432 |
377 |
55 |
|
Cayman Islands |
797 |
574 |
223 |
220 |
2 |
|
Japan |
521 |
427 |
93 |
61 |
32 |
|
France |
375 |
257 |
118 |
105 |
13 |
|
Australia |
351 |
147 |
204 |
142 |
62 |
|
Switzerland |
333 |
322 |
11 |
8 |
3 |
|
Germany |
330 |
228 |
101 |
79 |
23 |
|
Netherlands |
286 |
146 |
141 |
129 |
11 |
|
Brazil |
216 |
150 |
66 |
66 |
* |
|
Ireland |
181 |
134 |
47 |
46 |
* |
|
Bermuda |
178 |
150 |
29 |
28 |
* |
|
Korea, South |
175 |
141 |
34 |
31 |
2 |
|
Mexico |
157 |
77 |
80 |
72 |
8 |
|
Hong Kong [2] |
145 |
139 |
5 |
3 |
2 |
|
Rest of world |
1,960 |
1,285 |
675 |
600 |
75 |
|
Total |
7,941 |
5,312 |
2,630 |
2,265 |
365 |
|
* Greater than zero but less than $500 million.
[1] The stock of foreign securities for December 31, 2012, reported in this survey may not, for a number of reasons, correspond to the stock of foreign securities on December 31, 2011, plus cumulative flows reported in Treasury’s transactions reporting system. An analysis of the relationship between the stock and flow data is available in Table 4 and the associated text of the “Report on U.S. Portfolio Holdings of Foreign Securities” at end-year 2012.
[2] China excludes Hong Kong and Macau, which are reported separately. |
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