Japan has toppled China as the biggest holder of United States government bills and bonds for the first time in several years, the US Department of Treasury reported Wednesday.
According to the latest data for February 2015, the total volume of foreign credits to the US dropped by nearly one percent, to $6.16 trillion. China which had held the world’s largest US treasury portfolio reduced its holdings by 1.2 percent.
As a result, Japan which reduced its portfolio by 1.1 percent took the lead. Currently the country owns $1.2244 trillion of US government securities, nearly $700 million more than China holds.
Compared to January 2015, Russia reduced its holdings by almost $12.5 billion. The Russian portfolio of US debt now is $69.6 billion. Russia currently ranks 19th in the top list of the world’s biggest foreign creditors to the US.
