PRELIMINARY ANNUAL REPORT ON
U.S. PORTFOLIO HOLDINGS OF FOREIGN SECURITIES
AT END-DECEMBER 2007


Preliminary data from the latest annual survey of U.S. portfolio holdings of foreign securities are now available. The survey measured U.S. holdings at year-end 2007 of approximately $7.2 trillion, with $5.2 trillion held in foreign equities, $1.6 trillion in foreign long-term debt securities (original term-to-maturity in excess of one year), and $0.4 trillion held in foreign short-term debt securities. The previous such survey, conducted as of year-end 2006, measured U.S. holdings of approximately $6.0 trillion, with $4.3 trillion held in foreign equities, $1.3 trillion in foreign long-term debt securities, and $0.4 trillion held in foreign short-term debt securities.

Final survey results, which will include additional data detail as well as possible revisions to the preliminary data, will be released on October 31, 2008. The survey was a joint effort of the Department of the Treasury, the Federal Reserve Bank of New York, and the Board of Governors of the Federal Reserve System. Questions about the survey can be directed to Dwight Wolkow (Treasury, 202-622-1276) and Carol Bertaut (Board of Governors, 202-452-3476) at comments2TIC@do.treas.gov. Questions from the news media should be directed to Rob Saliterman at (202) 622-2960 in the Office of Public Affairs at the Department of the Treasury.

The Department of the Treasury, the Federal Reserve Bank of New York, and the Board of Governors of the Federal Reserve System wish to thank all of the institutions who participated in the survey and without whose efforts the survey would not have been possible.

Market value of U.S. holdings of foreign securities, by country and type of security, 
as of December 31, 2007
  (Amounts in millions of U.S. dollars)
    Long-term Short-term
Country of issuer Total Equity Debt Debt
      Securities1 Securities
Albania 13 * 13 0
Andorra 14 14 0 0
Anguilla 15 15 0 0
Antigua and Barbuda 127 127 0 0
Argentina 9,827 1,922 7,860 44
Aruba 1,102 0 1,102 0
Australia 222,570 138,096 73,257 11,217
Austria 28,998 20,069 6,443 2,486
Bahamas 2,263 1,302 908 52
Bangladesh 167 163 0 4
Barbados 423 56 367 0
Belgium 37,874 31,642 5,105 1,127
Belize 88 56 32 0
Bermuda 272,969 256,111 16,708 149
Bolivia 10 0 10 0
Bosnia and Herzegovina 90 0 90 0
Botswana 6 5 1 0
Brazil 188,808 172,599 16,165 44
British Virgin Islands 14,844 11,156 3,687 *
Bulgaria 561 387 174 0
Burundi 4 0 4 0
Canada 586,454 378,965 185,217 22,272
Cayman Islands 543,887 231,886 271,328 40,673
Chile 12,774 5,205 7,564 5
China, Mainland2 97,241 95,658 1,457 125
Colombia 6,794 1,193 5,567 35
Comoros * * 0 0
Cook Islands * * 0 0
Costa Rica 376 * 370 6
Cote D`Ivoire (Ivory Coast) 158 1 158 0
Croatia 467 164 304 0
Cuba * * 0 0
Cyprus 2,968 2,305 338 325
Czech Republic 5,352 5,155 196 0
Denmark 47,157 32,971 12,830 1,356
Dominican Republic 849 * 848 1
Ecuador 709 * 707 2
Egypt 11,868 8,865 1,758 1,245
El Salvador 835 5 822 8
Estonia 174 135 38 1
Falkland Islands 4 4 0 0
Faroe Islands 14 14 0 0
Fiji 29 0 29 0
Finland 94,174 90,158 3,587 428
France 448,189 347,795 82,929 17,466
French Guiana * * 0 0
Gambia * * 0 0
Georgia 150 147 3 0
Germany 426,020 329,164 88,938 7,919
Ghana 192 20 173 0
Gibraltar 96 96 0 0
Greece 25,485 23,722 1,763 0
Grenada 14 0 14 0
Guatemala 224 0 224 0
Guernsey 15,830 13,229 2,572 29
Guinea 3 3 0 0
Honduras 27 * 6 21
Hong Kong 121,276 119,522 1,736 18
Hungary 9,226 7,309 1,785 131
Iceland 7,268 32 7,219 17
India 85,149 81,755 3,294 100
Indonesia 18,350 15,077 3,271 1
Ireland 131,854 48,969 50,153 32,732
Isle of Man 1,306 1,144 149 13
Israel 54,250 38,892 15,255 103
Italy 119,962 96,927 21,885 1,151
Jamaica 662 * 662 0
Japan 593,764 529,219 60,218 4,326
Jersey 28,633 5,414 12,237 10,982
Jordan 110 83 28 0
Kazakhstan 1,341 812 504 25
Kenya 32 24 8 0
Korea, South 139,554 129,234 9,845 476
Latvia 18 18 * 0
Lebanon 432 141 291 0
Lesotho * * 0 0
Liberia 6,763 5,053 1,710 0
Liechtenstein 263 253 10 0
Lithuania 74 29 45 0
Luxembourg 95,121 40,071 43,820 11,230
Malaysia 25,209 17,670 6,360 1,179
Malta 127 50 71 5
Marshall Islands 13,586 13,096 490 0
Mauritania * 0 * 0
Mauritius 1,657 1,568 87 2
Mexico 109,731 85,417 23,882 432
Moldova * * 0 0
Monaco 16 16 0 0
Mongolia * 0 * 0
Morocco 455 394 61 0
Namibia 3 3 0 0
Nauru * * 0 0
Netherlands 235,059 153,976 76,411 4,672
Netherlands Antilles 89,288 87,994 1,287 8
New Caledonia * * 0 0
New Zealand 9,799 3,940 3,900 1,958
Nicaragua 29 0 29 0
Norway 67,909 46,383 15,232 6,294
Pakistan 1,757 1,444 313 *
Panama 29,435 25,296 4,136 3
Papua New Guinea 2,429 2,429 0 0
Paraguay * 0 0 *
Peru 4,605 1,679 2,651 274
Philippines 14,461 9,909 4,550 2
Poland 13,860 9,078 4,782 0
Portugal 8,711 6,109 2,232 370
Romania 622 612 1 9
Russia 80,919 74,386 6,520 13
Saint Kitts and Nevis * * 0 0
Saint Lucia 62 0 62 0
Senegal 2 2 0 0
Serbia and Montenegro 272 201 71 0
Seychelles 58 0 58 0
Singapore 64,710 55,584 9,061 65
Slovakia 71 * 70 0
Slovenia 351 318 34 0
South Africa 53,141 49,138 3,908 95
Spain 146,413 106,648 37,823 1,942
Sri Lanka 285 166 115 4
Sweden 112,057 57,393 29,110 25,554
Switzerland 287,675 280,767 3,618 3,290
Taiwan 81,191 81,024 168 0
Thailand 16,842 15,998 834 10
Trinidad and Tobago 1,472 * 1,472 0
Tunisia 501 4 497 0
Turkey 25,086 19,705 5,381 0
Turks and Caicos Islands * * 0 0
Uganda 1 0 0 1
Ukraine 2,137 643 1,495 0
United Kingdom 1,142,380 714,928 286,488 140,964
Uruguay 1,957 0 1,957 *
Venezuela 5,416 416 5,000 0
Vietnam 248 11 237 0
Zambia 78 75 2 2
Zimbabwe 200 157 43 0
International and Regional Organizations 24,015 366 22,130 1,520
Africa oil-exporters3 772 251 519 1
Middle East oil-exporters4 10,463 2,184 8,276 3
 
TOTAL 7,212,217 5,247,990 1,607,211 357,016
 
Totals by Region
Canada 586,454 378,965 185,217 22,272
Total Africa 75,895 65,564 8,985 1,346
Total Asia 1,325,459 1,193,733 125,309 6,417
Total Caribbean 927,977 588,650 298,444 40,884
Total Europe 3,652,357 2,569,361 812,467 270,529
     Of which:  Euro Area Countries 1,797,861 1,295,250 421,089 81,522
International and Regional Organizations 24,015 366 22,130 1,520
Total Latin America 371,650 293,794 76,983 874
Total Other Countries 248,410 157,559 77,677 13,174
1.    Long-term securities have an original term-to-maturity in excess of one year.
2.    Excludes Hong Kong and Macau, which are reported separately.
3.    Algeria, Gabon, Libya, and Nigeria.
4.    Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
*Greater than zero, but less than $500,000.