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Assets
Financial Assets$61.8T
Stocks & Equities$47.2T
21% of households
Cash & Deposits$9.6T
99% of households
Bonds & Fixed Income$6.2T
1% of households
Retirement & Tax-Adv.$77.8T
Retirement Accounts$48.1T
54% of households
IRAs$18.9T
31% of households
401(k) Plans$10.0T
50% of households
529 Plans$603B
13% of households
HSAs$159B
27% of households
Real Assets$87.1T
Real Estate$48.0T
66% of households
Commercial Real Estate$22.5T
6% of households
Residential Rentals$10.3T
13% of households
Farms$3.6T
1.5% of households
Vehicles$2.4T
87% of households
Mineral Rights$314B
9% of households
Business & Insurance$20.1T
Private Business$16.0T
15% of households
Life Insurance$2.2T
16% of households
RSUs & Equity Comp$2.1T
8% of households
Total Assets $181.6T
Ownership %: Federal Reserve SCF, 2022
Liabilities
Housing Debt$14.8T
Mortgages$13.77T
42% of households
HELOCs$434B
4% of households
HELOANs$562B
~3% of households
Consumer Credit$3.6T
Vehicle Loans$1.67T
35% of households
Credit Cards$1.33T
45% of households
Personal Loans$276B
19% of households
Vehicle Leases$209B
~10% of households
BNPL Debt$70B
~17% of households
Education & Health$2.1T
Student Loans$1.66T
22% of households
Medical Debt$194B
~14% of households
Deferred Medical$200B
~36% of households
Other Debt$2.2T
Margin Loans & SBLOCs$1.23T
~4% of households
Personal Guarantees$840B
~6% of households
Insurance Policy Loans$151B
~5% of households
Total Liabilities $20.9T
Holding %: Federal Reserve SCF 2022 & agency estimates
Net Worth
Overview By Percentile By Age
Cash Flow
Income Spending Taxes Debt Service Savings
Households
Overview By Age By Generation
Home / Liabilities / Margin Loans & SBLOCs

Margin Loans & SBLOCs

Time series data on U.S. margin loans and Securities-Based Lines of Credit (SBLOCs).

Margin debt hit a record $1.28T in Jan 2026, fueled by AI-driven equity gains
Data View Commentary →
Total Brokerage Margin Debt
$1,225.6B Dec 2025
Source: FINRA Margin Statistics · Debit balances in customers' securities margin accounts, quarterly end-of-period, 1997–2025
Margin Debt as a Percentage of GDP
3.89% 2025
Source: Computed from FINRA December margin debt ÷ BEA GDP (Q4 annualized), 1997–2025
Margin Debt as % of U.S. Stock Market Cap
1.13% 2025
Source: Computed from FINRA margin debt ÷ Federal Reserve Z.1 corporate equities market value, 1997–2025
YoY Change in Margin Debt / Market Cap
+0.14 pp 2025
Source: Computed year-over-year difference in margin debt / market cap ratio, 1998–2025
Securities-Based Loans (SBLOCs) Outstanding
$138B Q1 2024
Source: Federal Reserve FEDS Notes (Aug 2024) · Estimated quarterly SBLOCs held by banks, 2011–2024
Total Securities-Based Lending (Margin + SBLOCs)
$922.0B Q1 2024
Source: FINRA margin debt + Federal Reserve FEDS Notes SBLOC estimates, 2011–2024
Note: Combined series ends Q1 2024, the latest period for which SBLOC estimates are available. Margin debt alone has since risen to $1.23T (Dec 2025).
Securities-Based Lending / Total Financial Assets
0.828% Q3 2025
Source: Computed from FINRA margin debt ÷ Federal Reserve Z.1 household total financial assets, 1997–2025

Key Data

Summary metrics on U.S. margin loans and securities-based lines of credit.

Metric Value Period Source
Brokerage margin debt$1,225.6 billionDec 2025FINRA
Margin debt (latest monthly)$1,279.0 billionJan 2026FINRA
Margin debt / GDP3.89%2025FINRA / BEA
Margin debt / stock market cap1.13%2025FINRA / Fed Z.1
SBLOCs outstanding (est.)$138 billionQ1 2024Federal Reserve
Peak SBLOCs$174.7 billionQ3 2022Federal Reserve
Combined margin + SBLOCs$922 billionQ1 2024FINRA / Federal Reserve
SBLOCs as % of consumer credit2.7%Q1 2024Federal Reserve
Margin debt / total financial assets0.828%Q3 2025FINRA / Fed Z.1
Peak lending / financial assets0.884%Q1 2000FINRA / Fed Z.1
All-time peak margin debt$1,279.0 billionJan 2026FINRA
Peak margin debt / GDP4.05%2000FINRA / BEA