The U.S. Department of the Treasury has released its Treasury International Capital (TIC) data for November 2025, providing an overview of cross-border financial flows and foreign investment in U.S. securities.
According to the latest figures, the net TIC inflow for November was $212.0 billion. This total includes $167.2 billion in net foreign private inflows and $44.9 billion in net foreign official inflows.
Foreign residents increased their holdings of long-term U.S. securities by $221.8 billion during the month, with private foreign investors accounting for $157.8 billion and foreign official institutions for $64.0 billion in net purchases.
U.S. residents also raised their holdings of long-term foreign securities, making net purchases worth $1.6 billion.
After accounting for adjustments such as estimated foreign portfolio acquisitions of U.S. stocks through stock swaps, overall net foreign purchases of long-term securities were estimated at $220.2 billion in November.
Foreign residents’ holdings of U.S. Treasury bills grew slightly by $0.4 billion, while their holdings of all dollar-denominated short-term U.S. securities and other custody liabilities fell by $6.5 billion.
Banks' own net dollar-denominated liabilities to foreign residents decreased by $1.7 billion over the same period.
The Treasury emphasized some limitations regarding TIC data: "These data help provide a window into foreign ownership of U.S. securities, but they cannot attribute holdings of U.S. securities with complete accuracy." The statement continued, "For example, if a U.S. Treasury security purchased by a foreign resident is held in a custodial account in a third country, the true ownership of the security will not be reflected in the data."
The next release covering December 2025 is scheduled for February 18, 2026.
A more detailed breakdown and complete data are available on the Treasury website.
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