New York Fed primary dealer statistics · Net positions in securities on the last Wednesday of each month
What do the primary dealers hold in securities?
The month ended : of the 6 lines, the change over a year was largest for Treasury bills, up 357.6%, and smallest for Treasury floating rate notes, down 59.2%.
Primary dealer net positions in securities, treasuries, each month
- All Treasury securities432.061.1 to 557.1
- Treasury bills93.40.9 to 113.3
- Treasury floating rate notes6.83.0 to 26.5
Primary dealer net positions in securities, other securities, each month
- Federal agency and GSE debt16.08.0 to 26.8
- Mortgage-backed securities116.844.6 to 142.7
- Corporate securities14.61.7 to 37.7
Each row is one line of the page over the last ten years, one month to a point, on a scale shared by the rows of the tab, with its newest value and its range printed beside it and a dashed line at zero. A gap is a month with no value. Pointing at the chart shows the month and the value.
Observed .
Right now
Over a year to September 2026, of the 6 lines on this page the change was largest for Treasury bills, up 357.6%, and smallest for Treasury floating rate notes, down 59.2%.
Of these lines, 5 rose, 1 fell and 0 did not change over the year (ours, from the published values).
By lineOver a year, ours
Primary dealer net positions in securities, change over a year, by line
- Treasuries
- Other securities
Each bar is the change in one line over a year, the largest first, with its rank at the left and its newest value under the figure. A line with its own page links it from its name. A change below zero runs to the left of the zero line. The colour says which section of the page a line is in.
Observed .
Primary dealer net positions in securities, change over a year in each month
| Line | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| All Treasury securities | +56.9 | +33.0 | +19.7 | +35.7 | +16.6 | +33.3 | +32.5 | +28.0 | +23.5 | +30.4 | +46.7 | +10.7 |
| Treasury bills | −1.6 | −19.8 | −9.7 | +44.2 | −46.9 | +0.3 | +115.0 | +36.6 | +28.8 | +342.0 | +783.5 | +357.6 |
| Treasury floating rate notes | +111.1 | +56.9 | −39.4 | +22.4 | +30.3 | +49.9 | +50.7 | +60.9 | −24.6 | +19.9 | −16.5 | −59.2 |
| Federal agency and GSE debt | +15.0 | +22.9 | −3.0 | +68.7 | +13.6 | +59.6 | +57.3 | +62.0 | +73.1 | +45.9 | +6.8 | +10.5 |
| Mortgage-backed securities | +1.6 | +12.7 | +4.0 | +6.3 | +27.8 | +23.6 | −0.8 | +8.3 | +2.8 | +13.6 | +56.9 | +17.8 |
| Corporate securities | −10.3 | −19.6 | −80.2 | −41.9 | −84.5 | −56.8 | −16.9 | +21.4 | +43.5 | −8.6 | +12.8 | +37.7 |
Each chip is one month's change from the same month a year earlier. The mark in its middle is zero: a fill to the right of it is a rise and a fill to the left a fall. A longer, brighter fill is a larger change, in five steps up to 73.1 and over. Every chip prints its figure and sign.
Observed .
Understanding primary dealer positions
Where it stands today
The largest change over a year was Treasury bills, up 357.6%, in September 2026.
What do the lines of this page measure?
A primary dealer is one of the banks and broker-dealers that trade directly with the Federal Reserve Bank of New York. A dealer position is what the primary dealers own of a kind of security, less what they have sold and do not own. The New York Fed publishes the dealers' positions as of each Wednesday.
Read more
This page shows six lines of those statistics: the total of the Treasury securities the dealers hold, of which Treasury bills and Treasury floating rate notes are two parts, and the totals for federal agency and GSE debt other than mortgage-backed securities, for mortgage-backed securities and for corporate securities. Positions are net positions in millions of dollars, as reported by the primary dealers, and shown here in billions.
What 500metrics adds: the position on the last Wednesday of each month; the change over a year of every line, ranked across the page; the last ten years of every line as rows of small charts; and a table of the change over a year in each of the last twelve months.
The numbers behind the chart
What is the latest value of each line?6 lines, in the sections of the page
| Line | Section | Month | Value | Change over a year | Rank |
|---|---|---|---|---|---|
| All Treasury securities | Treasuries | $432.0 billion | +10.7% | 4 | |
| Treasury bills | Treasuries | $93.4 billion | +357.6% | 1 | |
| Treasury floating rate notes | Treasuries | $6.8 billion | −59.2% | 6 | |
| Federal agency and GSE debt | Other securities | $16.0 billion | +10.5% | 5 | |
| Mortgage-backed securities | Other securities | $116.8 billion | +17.8% | 3 | |
| Corporate securities | Other securities | $14.6 billion | +37.7% | 2 |
The table scrolls sideways; the first column stays in place.
What do these figures leave out, and how are they cited?Limits, dates and how to cite
What this number cannot tell you
- A month shows the position on its last Wednesday. The New York Fed publishes a Wednesday's positions on the Thursday of the week after, so a month appears on this page once the first Wednesday of the next month has been published.
- A net position is the dealers' long position less their short position, so it is below zero when the short positions are larger. The change over a year is worked out only where the value a year before is above zero.
- The Treasury total is the sum of the New York Fed's lines for Treasury bills, Treasury coupon securities, floating rate notes and TIPS (inflation-protected securities). Bills and floating rate notes are parts of the total and not lines to add to it, and the coupon securities and the TIPS are not shown by maturity here.
- The mortgage-backed total is the sum of the agency and GSE mortgage-backed securities and the non-agency ones. The corporate total is the sum of commercial paper and of investment grade and below investment grade bonds, notes and debentures.
- The statistics cover the primary dealers only. They do not describe the holdings of other firms.
- The changes and the ranks are ours, worked out from the values the New York Fed publishes; a change is in percent. The choice of the last Wednesday of each month is ours too.
Observed . Checked .
How to cite this
© 2026 Federal Reserve Bank of New York. Content from the New York Fed subject to the Terms of Use at newyorkfed.org. The month, the changes and the ranks are computed by 500metrics., Net positions in securities on the last Wednesday of each month, through September 2026. Compiled by 500metrics, "What do the primary dealers hold in securities?", https://500metrics.com/primary-dealer-positions.
Can the data be downloaded?primary-dealer-positions.csv
Download the last ten years of every line as CSV: 726 rows, to , 42,438 bytes.
Our text and compilation: CC BY 4.0.
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Page updated
Sources
© 2026 Federal Reserve Bank of New York. Content from the New York Fed subject to the Terms of Use at newyorkfed.org. The month, the changes and the ranks are computed by 500metrics. (source) Terms: Federal Reserve Bank of New York terms of use.