Overview
The U.S. Department of the Treasury reported a net inflow of $44.9 billion in Treasury International Capital (TIC) for December 2025, according to data released Wednesday. That headline figure combines net foreign acquisitions across long-term securities, short-term U.S. securities, and banking flows.
Breakdown by investor type
Private foreign investors accounted for the bulk of the inflow, contributing $32.7 billion, while foreign official institutions added $12.2 billion to the total. The composition of those flows shows a notable tilt toward long-term U.S. securities among foreign residents.
Long-term securities activity
Foreign residents recorded net purchases of long-term U.S. securities totaling $62.9 billion in December. Within that aggregate, private foreign investors generated $55.7 billion of net purchases and foreign official institutions contributed $7.2 billion.
At the same time, U.S. residents increased their holdings of long-term foreign securities with net purchases of $34.9 billion during the month. After applying adjustments documented in the TIC data - including estimated foreign portfolio acquisitions of U.S. equities through stock swaps - the overall estimated net foreign purchases of long-term securities were reduced to $28.0 billion for December.
Short-term securities and banking flows
The report also shows foreign residents raised their holdings of U.S. Treasury bills by $9.7 billion. More broadly, foreign resident holdings of all dollar-denominated short-term U.S. securities and other custody liabilities increased by $12.1 billion.
In the banking sector, banks recorded a $4.8 billion increase in their own net dollar-denominated liabilities to foreign residents.
Next release
The Treasury has scheduled the next TIC release, covering January 2026 data, for March 18, 2026.
Note: This article reports the Treasury's TIC figures as published; the figures presented are the official values reported by the Treasury.