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. This figure represents the combined total of net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows.
According to the report, private foreign investors accounted for $32.7 billion in net inflows, while official foreign institutions contributed $12.2 billion. Foreign residents increased their holdings of long-term U.S. securities by $62.9 billion during December, with private investors responsible for $55.7 billion and official institutions adding $7.2 billion.
U.S. residents also raised their investments in long-term foreign securities with net purchases totaling $34.9 billion.
After including 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.
Foreign residents added $9.7 billion to their holdings of U.S. Treasury bills and increased all dollar-denominated short-term U.S. securities and other custody liabilities by $12.1 billion over the month.
Banks’ own net dollar-denominated liabilities to foreign residents rose by $4.8 billion.
The monthly TIC data are primarily based on custodial information about holdings of long-term securities and include a table on major foreign holders of Treasury Securities collected mainly from custodians’ records rather than direct ownership attribution by country or investor type.
The Treasury noted that these data provide insight into international investment in U.S.-issued financial assets but cautioned that they cannot always precisely attribute true ownership due to factors like third-country custodial accounts or indirect portfolio management structures: “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… For these reasons, it is difficult to draw precise conclusions from TIC data about changes in the foreign holdings of U.S. financial assets by individual countries.”
Monthly reports do not cover direct investment flows; those are published separately by the Bureau of Economic Analysis within the Department of Commerce.
Complete details are available on the Treasury website.
The next release covering January 2026 is scheduled for March 18, 2026.
