Early 2022 → 2026
Who holds U.S. Treasuries?
Within the U.S., the Federal Reserve has stepped back, and abroad, the public sector like central banks has decreased, with the private sector filling those gaps.
Fed share of U.S. holdings · Early 2022
Fed share of U.S. holdings · Q2 2026
Foreign holdings Public vs. Private · Early 2022
Public 53.2%
Private 46.8%
Foreign holdings Public vs. Private · July 2026
Public 40.8%
Private 59.2%
Fed·PublicPrivate
Source: Korea Center for International Finance (2026.9.23), re-cited from Fed Z.1·TIC