The U.S. Department of the Treasury has published Treasury International Capital (TIC) data for August and September 2025, following a delay caused by a partial federal government shutdown. The next TIC report, covering October 2025, is scheduled for release on December 18, 2025.
In August, the total net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows resulted in a net TIC inflow of $187.1 billion. For September, the figure was $190.1 billion. In August, net foreign private inflows were $224.9 billion while net foreign official outflows reached $37.9 billion; in September, private inflows were $213.9 billion and official outflows were $23.7 billion.
Foreign residents increased their holdings of long-term U.S. securities during both months: net purchases totaled $181.2 billion in August and rose to $208.5 billion in September. Private foreign investors accounted for most of these increases with net purchases of $196.4 billion in August and $210.7 billion in September; meanwhile, foreign official institutions recorded net sales of $15.1 billion in August and $2.2 billion in September.
U.S residents also raised their holdings of long-term foreign securities with net purchases amounting to $47.0 billion in August and $28.7 billion in September.
After adjustments—including estimated foreign portfolio acquisitions of U.S stocks through stock swaps—overall net foreign purchases of long-term securities were estimated at $134.2 billion for August and $179.8 billion for September.
Foreign residents increased their holdings of U.S Treasury bills by $25.0 billion in August but reduced them by $22.0 billion the following month; overall holdings of all dollar-denominated short-term U.S securities and other custody liabilities grew by $12.1 billion in August but fell by $8.3 billion in September.
Banks’ own net dollar-denominated liabilities to foreign residents went up by $40.8 billion in August and by another $18.6 billion in September.
Complete TIC data are available on the Treasury website. Revised figures from previous releases can also be found there.
The Treasury notes that monthly data on holdings of long-term securities primarily rely on custodial data, which provides insight into foreign ownership but does not allow complete accuracy regarding actual ownership or country attribution due to intermediaries or portfolio managers acting on behalf of others.
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