The Fed Gazette — an independent publication
Est. 2026 Vol. I, No. 2
A civic journal of money and credit
Quantitative tightening is a common name for shrinking the Federal Reserve's securities holdings. The Fed does it by redeeming securities, meaning principal payments up to a monthly cap are not reinvested, so the holdings in the System Open Market Account fall. The Fed's own term for the process is balance sheet runoff.
Latest print
Total System Open Market Account holdings, weekly, not total Federal Reserve assets. The axis shows trillions of dollars, rounded for labels only. The key and the table give the value as published.
Source: Federal Reserve Bank of New York, SOMA summary history · as of · retrieved
| As of | Total |
|---|---|
| Sep 24, 2003 | $654,473,316,000.00 |
| Dec 31, 2003 | $665,000,116,000.00 |
| Mar 31, 2004 | $672,391,366,000.00 |
| Jun 30, 2004 | $685,454,366,000.00 |
| Sep 29, 2004 | $696,482,366,000.00 |
| Dec 29, 2004 | $715,507,486,000.00 |
| Mar 30, 2005 | $715,209,519,000.00 |
| Jun 29, 2005 | $723,226,552,000.00 |
| Sep 28, 2005 | $733,168,152,000.00 |
| Dec 28, 2005 | $740,848,599,000.00 |
| Mar 29, 2006 | $755,193,221,000.00 |
| Jun 28, 2006 | $762,595,446,000.00 |
| Sep 27, 2006 | $764,827,929,000.00 |
| Dec 27, 2006 | $774,987,618,000.00 |
| Mar 28, 2007 | $777,347,825,000.00 |
| Jun 27, 2007 | $786,149,825,000.00 |
| Sep 26, 2007 | $774,913,483,000.00 |
| Dec 26, 2007 | $749,750,234,000.00 |
| Mar 26, 2008 | $607,579,161,000.00 |
| Jun 25, 2008 | $473,302,960,000.00 |
| Sep 24, 2008 | $479,985,502,900.00 |
| Dec 31, 2008 | $489,693,502,900.00 |
| Mar 25, 2009 | $757,262,829,168.00 |
| Jun 24, 2009 | $1,212,040,431,153.80 |
| Sep 30, 2009 | $1,587,020,034,300.00 |
| Dec 30, 2009 | $1,838,849,745,975.50 |
| Mar 31, 2010 | $2,008,756,703,446.30 |
| Jun 30, 2010 | $2,054,460,166,266.20 |
| Sep 29, 2010 | $2,038,827,407,489.00 |
| Dec 29, 2010 | $2,149,525,358,436.20 |
| Mar 30, 2011 | $2,396,289,704,916.10 |
| Jun 29, 2011 | $2,633,633,441,174.70 |
| Sep 28, 2011 | $2,634,157,473,454.20 |
| Dec 28, 2011 | $2,603,764,526,266.30 |
| Mar 28, 2012 | $2,589,017,878,975.60 |
| Jun 27, 2012 | $2,603,158,121,301.90 |
| Sep 26, 2012 | $2,556,821,729,413.80 |
| Dec 26, 2012 | $2,649,332,839,120.30 |
| Mar 27, 2013 | $2,926,952,334,818.20 |
| Jun 26, 2013 | $3,194,599,884,715.00 |
| Sep 25, 2013 | $3,454,330,232,934.70 |
| Dec 31, 2013 | $3,742,632,690,427.80 |
| Mar 26, 2014 | $3,948,089,960,865.10 |
| Jun 25, 2014 | $4,088,813,507,970.90 |
| Sep 24, 2014 | $4,178,343,086,869.30 |
| Dec 31, 2014 | $4,220,690,108,476.80 |
| Mar 25, 2015 | $4,213,964,708,612.80 |
| Jun 24, 2015 | $4,227,464,404,825.00 |
| Sep 30, 2015 | $4,221,499,920,390.40 |
| Dec 30, 2015 | $4,225,583,667,597.60 |
| Mar 30, 2016 | $4,227,737,869,418.30 |
| Jun 29, 2016 | $4,213,862,766,793.10 |
| Sep 28, 2016 | $4,203,567,172,677.70 |
| Dec 28, 2016 | $4,203,366,691,374.20 |
| Mar 29, 2017 | $4,228,959,674,894.20 |
| Jun 28, 2017 | $4,224,719,509,413.80 |
| Sep 27, 2017 | $4,221,655,151,614.20 |
| Dec 27, 2017 | $4,203,854,982,331.50 |
| Mar 28, 2018 | $4,163,864,039,501.30 |
| Jun 27, 2018 | $4,080,701,043,257.30 |
| Sep 26, 2018 | $3,975,452,883,030.40 |
| Dec 26, 2018 | $3,857,873,039,174.80 |
| Mar 27, 2019 | $3,749,234,437,230.70 |
| Jun 26, 2019 | $3,621,864,604,309.80 |
| Sep 25, 2019 | $3,552,957,176,149.20 |
| Dec 31, 2019 | $3,714,482,596,780.60 |
| Mar 25, 2020 | $4,336,011,382,965.00 |
| Jun 24, 2020 | $6,107,308,210,209.90 |
| Sep 30, 2020 | $6,390,379,082,800.20 |
| Dec 30, 2020 | $6,687,077,217,563.09 |
| Mar 31, 2021 | $7,083,224,261,791.89 |
| Jun 30, 2021 | $7,450,262,558,653.42 |
| Sep 29, 2021 | $7,863,880,504,300.80 |
| Dec 29, 2021 | $8,197,891,860,011.00 |
| Mar 30, 2022 | $8,398,359,684,121.30 |
| Jun 29, 2022 | $8,384,742,591,811.30 |
| Sep 28, 2022 | $8,272,288,169,977.00 |
| Dec 28, 2022 | $8,041,875,253,601.80 |
| Mar 29, 2023 | $7,822,324,033,290.50 |
| Jun 28, 2023 | $7,577,439,912,355.20 |
| Sep 27, 2023 | $7,329,489,160,028.60 |
| Dec 27, 2023 | $7,110,733,520,330.00 |
| Mar 27, 2024 | $6,895,845,250,739.80 |
| Jun 26, 2024 | $6,673,467,890,478.70 |
| Sep 25, 2024 | $6,551,103,309,394.10 |
| Dec 31, 2024 | $6,408,308,868,072.60 |
| Mar 26, 2025 | $6,319,641,344,480.90 |
| Jun 25, 2025 | $6,242,120,746,578.70 |
| Sep 24, 2025 | $6,191,231,192,275.50 |
| Dec 31, 2025 | $6,154,707,149,716.80 |
| Mar 25, 2026 | $6,271,471,713,765.80 |
| Jun 24, 2026 | $6,344,345,567,445.70 |
| Sep 30, 2026 | $6,358,573,997,880.20 |
Checked against these official pages on Monday, October 5, 2026. Quoted text is copied word for word.
Principal payments up to the monthly cap are redeemed without reinvestment, which reduces the SOMA's securities holdings.