U.S. TREASURY DEPARTMENT OFFICE OF PUBLIC AFFAIRS

EMBARGOED UNTIL 4 PM (EST), November 30, 2007 

CONTACT Ann Marie Hauser, (202) 622-2960 

 

 REPORT ON U.S. PORTFOLIO HOLDINGS OF FOREIGN SECURITIES AT 

END-YEAR 2006 

The findings from an annual survey of U.S. portfolio holdings of foreign securities at end-year 2006 are 

released today and posted on the U.S. Treasury web site (www.treas.gov/tic/fpis.html). 

A complementary survey measuring foreign portfolio holdings of U.S. securities is also carried out 

annually. Preliminary results from the most recent such survey, covering securities held as of June 30, 

2007, are expected to be reported by February 29, 2008. 

These surveys are undertaken jointly by the U.S. Treasury, the Federal Reserve Bank of New York, and 

the Board of Governors of the Federal Reserve System. 

Overall Results

The survey measured the value of U.S. holdings of foreign securities at year-end 2006 of approximately 

$5,991 billion, with $4,329 billion held in foreign equities, $1,294 billion in foreign long-term debt 

securities (original term-to-maturity in excess of one year), and $368 billion in foreign short-term debt 

securities. The previous survey measured U.S. holdings at year-end 2005 of approximately $4,609 

billion, with $3,318 billion held in foreign equities, $1,028 billion in foreign long-term debt securities, 

and $263 billion in foreign short-term debt securities (see Table 1). 

U.S. portfolio holdings of foreign securities by country at the end of 2006 were by far the largest for the 

United Kingdom ($1,076 billion), followed by Japan ($596 billion) and Canada ($478 billion) (see Table 

2). 

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. Value of U.S. holdings of foreign securities, by type of security, 

 at end-2005 and end-20061

 (Billions of dollars) 

Type of Security Dec. 31, 2005 Dec. 31, 2006

Long-term Securities 4,346 5,623

 Equity 3,318 4,329

 long-term debt 1,028 1,294

Short-term debt securities 263 368

Total 4,609 5,991

U.S. Portfolio Investment by Country

Table 2. Value of U.S. holdings of foreign securities, by country and type of security, 

 for the countries attracting the most U.S. investment, as of December 31, 2006 

(Billions of dollars, except as noted) 

Debt securities:

Total Equities Long-term Short-term

 

1 United Kingdom 1,076 674 245 156 

2 Japan 596 544 46 7 

3 Canada 478 298 162 18 

4 France 401 307 63 32 

5 Cayman Islands 376 161 178 37 

6 Germany 292 220 62 10 

7 Switzerland 264 263 1 * 

8 Netherlands 234 161 68 5 

9 Bermuda 208 192 14 3 

10 Australia 173 102 62 10 

11 Korea, South 124 114 10 * 

12 Ireland 121 48 38 34 

13 Spain 111 86 24 1 

14 Brazil 110 92 18 * 

15 Mexico 108 85 24 * 

16 Italy 106 93 12 1 

17 Sweden 102 59 24 19 

18 Hong Kong 88 86 2 * 

19 China, mainland2 75 74 1 * 

20 Taiwan 74 74 * 0 

21 Luxembourg 60 16 37 7 

22 Finland 60 56 4 * 

23 Netherlands Antilles 58 56 2 * 

24 Singapore 53 44 9 * 

25 Norway 51 32 15 4 

Rest of world 592 393 174 24 

Total value of investment 5,991 4,329 1,294 368 

1

 The stock of foreign securities for December 31, 2006, reported in this survey does not, for a number or reasons, correspond 

to the stock of foreign securities on December 31, 2005, plus cumulative flows reported in Treasury’s transactions reporting 

system. An analysis of the relation between the stock and flow data is available in Table 4 and the associated text of the final 

report on U.S. holdings of foreign securities at end-year 2006. 2

 Excludes Hong Kong and Macau, which are reported separately. 

* Greater than zero and less than $500 million. Note: items may not add to total due to rounding. 
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