Anguilla - Average Long-term Government Bond

The U.S. Treasury International Capital reporting system is responsible for the regular collection and maintenance of information on international portfolio capital movements and investment positions. Data available from this system include: U.S. transactions with foreigners in long-term securities, U.S. banking claims on and liabilities to foreigners, purchases of U.S. Treasury bonds and notes, and foreign holdings of U.S. securities. Series are annual (detailed holdings), quarterly (gross external debt position), 

Properties

• Measurements: Millions of U.S. dollars (Mil. USD)
• Adjustment: Not seasonally adjusted (NSA)
• Native frequencies:
  • Monthly
  • Quarterly
  • Annual
• Start dates: As early 1977m1

Introduction

The source writes:

Surveys of foreign portfolio holdings of U.S. securities are conducted annually and measure foreign holdings as of end-June each year. Complementary surveys of U.S. holdings of foreign securities are conducted annually as of end-December each year.

Long-term debt securities have an original term-to-maturity of over one year. Asset-backed securities are backed by pools of assets, such as pools of residential home mortgages or credit card receivables, which give the security owners claims against the cash flows generated by the underlying assets. Unlike most other debt securities, these securities generally repay both principal and interest on a regular basis, reducing the principal outstanding with each payment cycle.

Information is collected from commercial banks and other depository institutions, bank holding companies, securities brokers and dealers, and nonbanking enterprises in the United States, including the U.S. branches, agencies and subsidiaries of foreign-based banks and business enterprises. The TIC capital movement reports are filed directly with Federal Reserve Banks, who act as fiscal agents for the Treasury in this function. Beginning in late 1998, the Federal Reserve Board of Governors also performs services on behalf of the Treasury in support of this data collection system.

The foreign holder is indicated by the geo code.

The source writes:

It should be noted that in many cases it is not possible to accurately determine the country of residence of the beneficial owner of U.S. securities. Securities are often held in custody in countries other than the beneficial owner's country of residence. Respondents on this survey, in turn, may only know where the securities are held in custody. Thus, excessive foreign holdings may be attributed to countries that are major custodial centers, such as the United Kingdom, Switzerland, Belgium, and Luxembourg.

Special values

Although the U.S. Treasury's reports differentiate zero holdings from negligible amounts (e.g., “* designates between $0 and $500,000”), in Data Buffet all such values have been rounded to zero.

Frequencies

• Transactions and Claims - Monthly
• Major Foreign Holders - Monthly
• All Foreign Holders - Annual

Starting in 2002, the survey became annual, with values as of mid-year (June 30). Prior to that it had been conducted every five years since 1974, as follows:

• 1974 December
• 1978 December
• 1984 December
• 1989 December
• 1994 December
• 2000 March
• 2002 June

Major foreign holders

The monthly "Major Foreign Holders" report lists the estimated end-of-month holdings of the top holders (countries and country-aggregates) of U.S. Treasury securities. Monthly from 2000. Countries move in and out of this subset, so expect intermittent lags in the XBFH^^^M.IUSA series.

Geographies

Pseudo-geos and composites

Potentially overlapping geos

• China (Mainland) excludes Hong Kong, Macau (Macao), and Taiwan, which are reported separately.
• As of June 2014, the Netherlands Antilles was fragmented into three geos: Bonaire, Sint Eustatius, and Saba; Curacao; Sint Maarten.
• Guadeloupe was fragmented into two geos: Saint Martin, Saint Barthelemy.
• Serbia was fragemented into three geos: Kosovo, Montenegro, Serbia.

Country aggregates

United Kingdom

The Channel Islands and Isle of Man.

Oil exporters

Algeria, Bahrain, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Oman, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela.

Caribbean banking centers

The Bahamas, Bermuda, Cayman Islands, Netherlands Antilles and Panama. Starting in June 2006 (post-benchmark), also includes the British Virgin Islands.

Countries added

Some countries are reported intermittently, as they fall into and out of the top ranks. When they are reported, any previous null periods are populated (within the past 12 months) are reported. Sometimes a new country joins the top ranks, e.g., Peru in June 2012.

• Colombia - Mar 16, 2009
• Denmark - July 16, 2010; May 2009 to May 2010; reinstated March 15, 2012
• Malayasia - May 15, 2009; March 2008 to March 2009
• Peru - June 15, 2012; April 2011 to April 2012
• Philippines - Reinstated March 16, 2009
• South Africa - March 15, 2012

Countries deleted

Series for North Korea (a.k.a. Democratic People's Republic of Korea, DPRK) were terminated in 2005 and 2007.

Iraq and Vietnam fell off the list as of the July 2020 report.

Periodicity and timeliness

TIC includes monthly, quarterly and annual subsets.

Treasury publishes TIC each month around day 15 (at 16:00 pm ET, previously at 9:00 a.m.). The press release is posted first, with a vertical table containing four months of history. A related CSV file contains full history and revisions, and other delimited text files (s1_global.csv, etc.) contain the full history for specific indicators. Updates to these, and to the web pages with lists of archived past months, may lag by an hour or more.

For the monthly "Major Foreign Holders" report, countries move in and out of this subset, so expect intermittent lags in the XBFH^^^M.IUSA series.

Annual holdings data are published twice: preliminary data (12 concepts) at the end of February, and full data (24 concepts) at the end of April. Consequently, there is a two-month interval during which half the concepts lag by one year.

The annual holdings data (FPIS) are inherently sparse -- that is, not all types of security are held by (or attain the reportable threshhold) all countries for all periods. Hence, individual series may lag the reference date of the dataset as a whole.

Data are revised for up to 24 months after the initial "as of" reporting date.

All 15 FPIS-midyear series for North Korea (XSCFH?A.IPRK) were terminated in either 2005 and 2007. The country no longer appears in the FPIS annual report tables.

Dated notes

15 Aug 2018 - In today’s release table, line 26 (“Other [Short-Term] Negotiable Securities and Selected Other Liabilities” [XBLHONNM.IUSA]) shows a jump in June 2018. The main reason for the jump is improved reporting of collateralized loan obligations (CLOs). Accordingly, data for line 26 and for its components lines 27 and 28 [XBLHONVM.IUSA, XBLHONOM.IUSA] before June 2018 are not comparable to data going forward.

15 Mar 2023 - The April 17 Release will begin new data on cross-border transactions in long-term securities [...] related to the discontinuation of TIC Form S, “Purchases and Sales of Long-Term Securities by Foreign-Residents,” and the beginning of the revised and expanded TIC Form SLT, “Aggregate Holdings, Purchases and Sales, and Fair Value Changes of Long-Term Securities by U.S. and Foreign Residents.” [...] The new SLT-based data will be presented from the U.S. point of view, not from the foreign point of view of the S data [,] U.S. purchases and sales of foreign securities for a given country will refer to securities issued by that country, in contrast to the current breakdown showing the amounts of all foreign securities bought and sold in each country, regardless of the country of issuance.

Numbered footnotes

Notes as to the groupings of countries. (Republished from the source and augmented with Moody's Analytics geo codes.)

1/ Long-Term Securities, Total, 1989 and prior

Includes only foreign holdings of U.S. long-term securities. Prior to the 2002 survey, foreign holdings of U.S. short-term securities were not measured by the surveys. Long-term securities include all forms of equity and all debt securities with an original term-to-maturity of over one year.

2/ Long-Term Securities, Total, 1989

Data for 1989 are only available rounded to the nearest $100 million. Thus, the Total may not add to the sum of Equity+Debt.

3/ Long-Term Securities, Total, 1978 and prior

For both the 1974 and 1978 surveys, only foreign holdings of U.S. registered debt securities were measured; foreign holdings of U.S. unregistered (bearer) securities were excluded, thus foreign holdings of US debt are under-counted.

4/ Long-Term Securities, Total, 1974

With the exception of Canada, these figures include only private holdings of U.S. equities. Foreign official holdings, included in the total but not in the country rows, totaled $533 million. Foreign official institutions consist primarily of foreign national government institutions involved in the formulation of international monetary policy, but also include national government-sponsored investment funds and other national government institutions.

5/ Belgium-Luxembourg

The 1978, 1984, and 1989 surveys reported Belgium (IBEL) and Luxembourg (ILUX) combined as Belgium-Luxembourg (I126).

6/ Yugoslavia and Successors

Separate reporting for Bosnia and Herzegovina (IBIH), Croatia (IHRV), and Slovenia (ISVN) began with the 1994 survey; previously these were reported as part of Yugoslavia (IYUG). Yugoslavia became Serbia and Montenegro (ISRB) beginning with the 2002 survey.

7/ Caribbean

Separate reporting for Anguilla (IAIA), British Virgin Islands, Cayman Islands, Montserrat, and Turks and Caicos began with the 2000 survey; previously these were reported as the British West Indies.

8/

Separate reporting for the Isle of Man began with the 1994 survey; previously this was included in Other Europe.

9/ Channel Islands

Separate reporting for Guernsey and Jersey began with the 2002 survey. In the 1994 and 2000 surveys these were reported as the Channel Islands (ICIIM). Prior to that they were included in Other Europe.

10/ Czechoslovakia and Successors

Separate reporting for the Czech Republic (ICZE) and Slovakia (ISVK) began with the 1994 survey; previously these were reported as Czechoslovakia (ICSK).

11/ USSR and Successors

Separate reporting for Armenia, Azerbaijan, Belarus, Estonia, Georgia, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Moldova, Russia, Tajikistan, Turkmenistan, the Ukraine, and Uzbekistan began with the 1994 survey; previously these were reported as the USSR.

12/ Caribbean

Separate reporting for French Guiana, Guadeloupe, and French Guiana began in 2002. Prior to this they were reported as part of French West Indies and Guiana.

13/ Other Europe (IOEUR)

Consists of all European countries other than Austria, Belgium-Luxembourg, Bulgaria, Czechoslovakia, Denmark, Finland, France, German Democratic Republic, Germany, Greece, Hungary, Ireland (1989 only), Italy, Netherlands, Norway, Poland, Portugal, Romania, Spain, Sweden, Sweden, Switzerland, Turkey, United Kingdom, U.S.S.R., and Yugoslavia.

14/ Other Latin America & Caribbean (IOLAC)

Consist of all Latin American countries other than Argentina, Bahamas, Bermuda, Brazil, British West Indies, Chile, Colombia, Cuba, Ecuador, Guatemala, Jamaica, Mexico, Netherlands Antilles, Panama, Peru, Trinidad and Tobago, Uruguay, and Venezuela.

15/ Other Asia (IOASI)

Consist of all Asian countries other than Bahrain, China People’s Rep of (Mainland), China Republic of (Taiwan), Hong Kong, India, Indonesia, Iran, Iraq, Israel, Japan, Korea(South), Kuwait, Lebanon, Malaysia, Oman, Pakistan, Philippines, Qatar, Saudi Arabia, Singapore, Syria, Thailand, and the United Arab Emirates.

16/ Other Africa (IOAFR)

Consists of all African countries except Algeria, Egypt, Gabon, Ghana, Liberia, Libya, Morocco, Nigeria, South Africa, and Congo (Kinshasa).

17/ Other Oceania (IOOCE)

Consists of all countries in Oceania except Australia (IAUS).

18/ African Oil-Exporters (IAFOX)

Algeria, Gabon, Libya, Nigeria.

19/ Middle East Oil-Exporters (IMEOX)

Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates.

20/ Oil-Exporting Countries (I985)

In the 2007 report, consists of Middle East oil-exporters, African oil-exporters, Ecuador, Indonesia, and Venezuela. The countries that comprised this category were not specified in the 1978 survey report. However, based on the numbers reported the list is apparently broader than Middle East oil-exporters and African oil-exporters combined. This row should be excluded when computing the total outstanding, as the amounts in this row are also contained indistinguishably in Other Asia and Other Africa, and perhaps elsewhere.

21/ China, Mainland

Mainland China (ICHN) excludes Hong Kong (IHKG), Macau (IMAC) and Taiwan (ITWN), which are reported separately.

See also

• TIC foreign holdings of U.S. securities at mid-year: Preliminary and Final releases
• TIC gross external debt position
• TIC monthly flows
• TIC quarterly flows
• TIC monthly press release
• TIC monthly Major Foreign Holders

Further reading

The TIC home page links to reports on securities, banking, derivatives contracts, nonbanking, gross external debt; forms and instructions for data providers; press releases and articles.

Understanding U.S. Cross-Border Securities Data (PDF), from the Federal Reserve Bulletin, 2006.

Questions about the surveys can be directed to Contact TIC.

• 15 Jun 2023, Phillip Thorne - TIC Form S replaced by Form SLT; redefinition of 16 series.