NOTES TO THE FINANCIAL STATEMENTS 106 

Intra-governmental Debt Holdings: Federal Debt Securities 

Held as Investments by Government Accounts as of September 30, 2022, and 2021 

Net 

(In billions of dollars) 2021 Change 2022 

Social Security Administration, Federal Old-Age and Survivors Insurance 

Trust Fund ........................................................................................... 2,755.8 (32.2) 2,723.6 

Department of Defense, Military Retirement Fund ................................... 1,032.0 162.7 1,194.7 

Office of Personnel Management, Civil Service Retirement and Disability 

Fund .................................................................................................... 925.8 85.9 1,011.7 

Department of Defense, Medicare-Eligible Retiree Health Care Fund ....... 289.7 32.3 322.0 

Department of Health and Human Services, Federal Hospital Insurance 

Trust Fund ........................................................................................... 136.2 41.2 177.4 

Department of Health and Human Services, Federal Supplementary 

Medical Insurance Trust Fund ............................................................... 170.7 (2.7) 168.0 

Department of Transportation, Highway Trust Fund ................................ 12.0 115.5 127.5 

Federal Deposit Insurance Corporation, Deposit Insurance Fund ............. 115.5 10.0 125.5 

Department of Housing and Urban Development, FHA, Mutual Mortgage 

Insurance Capital Reserve Account ....................................................... 94.1 25.8 119.9 

Social Security Administration, Federal Disability Insurance Trust Fund ... 98.0 16.7 114.7 

Department of Labor, Unemployment Trust Fund.................................... 53.1 20.5 73.6 

Department of Energy, Nuclear Waste Disposal Fund ............................. 55.3 1.3 56.6 

Pension Benefit Guaranty Corporation ................................................... 50.3 5.3 55.6 

Office of Personnel Management, Employees Life Insurance Fund .......... 50.2 0.8 51.0 

Office of Personnel Management, Postal Service Retiree Health Benefits 

Fund .................................................................................................... 38.8 (3.2) 35.6 

Office of Personnel Management, Employees Health Benefits Fund ........ 28.0 (0.7) 27.3 

U.S. Postal Service, Postal Service Fund ............................................... 24.7 (3.8) 20.9 

Department of State, Foreign Service Retirement and Disability Fund ...... 20.3 0.4 20.7 

National Credit Union Share Insurance Fund .......................................... 18.5 2.2 20.7 

Department of the Treasury, ESF .......................................................... 22.8 (4.4) 18.4 

Department of Housing and Urban Development, Guarantees of 

Mortgage-Backed Securities Capital Reserve Account ............................ 14.2 4.2 18.4 

Department of the Interior, Abandoned Mine Reclamation Fund .............. 2.6 11.8 14.4 

Pension Benefit Guaranty Corporation Deposit Fund .............................. 15.0 (1.3) 13.7 

Department of Transportation, Airport and Airway Trust Fund .................. 15.9 (5.1) 10.8 

Department of Commerce, Public Safety Trust Fund, NTIA ..................... 12.2 (12.2) - 

All other programs and funds ................................................................. 94.1 13.0 107.1 

 Subtotal ............................................................................................. 6,145.8 484.0 6,629.8 

Total net unamortized premiums/(discounts) for intra-governmental ......... 86.2 2.5 88.7 

 Total intra-governmental debt holdings, net ....................................... 6,232.0 486.5 6,718.5 

Intra-governmental debt holdings represent the portion of the gross federal debt held as investments by government 

entities such as trust funds, revolving funds, and special funds. As noted above, the delay in raising the debt limit still existed 

as of September 30, 2021. On December 16, 2021, P.L. 117-73 was enacted, increasing the debt limit by $2,500.0 billion 

from $28,881.5 billion to $31,381.5 billion. Treasury subsequently restored uninvested principal and related interest, 

resulting in an increase to the CSRDF from 2021 to 2022. 

Government entities that held investments in Treasury securities include trust funds that have funds from dedicated 

collections. For additional information on funds froPGHGLFDWHGFROOHFWLRQVVHH1RWHņ)XQGVIURP'HGLFDWHG&ROOHFWLRQV

These intra-governmental debt holdings are eliminated in the consolidation of these financial statements.