The U.S. Department of the Treasury has released Treasury International Capital (TIC) data for December 2025, showing a net TIC inflow of $44.9 billion for the month. Of this total, net foreign private inflows accounted for $32.7 billion, while net foreign official inflows were $12.2 billion.
Foreign residents increased their holdings of long-term U.S. securities in December with net purchases totaling $62.9 billion. Private foreign investors made net purchases of $55.7 billion, and foreign official institutions added $7.2 billion to their holdings.
U.S. residents also increased their investments in long-term foreign securities, recording net purchases of $34.9 billion during the month.
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 $28.0 billion in December.
Additionally, foreign residents raised their holdings of U.S. Treasury bills by $9.7 billion and increased their holdings of all dollar-denominated short-term U.S. securities and other custody liabilities by $12.1 billion.
Banks’ own net dollar-denominated liabilities to foreign residents grew by $4.8 billion.
The monthly TIC data is primarily based on custodial information and provides insight into the extent of foreign ownership of U.S. securities; however, it does not always capture the true ownership due to factors such as third-country custodial accounts or portfolio managers investing on behalf of others abroad.
“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,” according to the Treasury release. “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 January 2026 TIC data is scheduled for March 18, 2026.
