$Bil

50

TREASURY FINANCING REQUIREMENTS

July - September 1980 $Bil.

50

40

30

20

10

0

Uses 471/4 Sources

bov t Acct Investment |K^9| ^jjg^lSpecial Issues-!/

—

Coupon .^^^H

Maturities HHH

V4 HMM

HHi Coupon HLIm" Refundings

—

Nonmarketables ^^^H

•

^H y2 ^^M Savings Bonds

^^M and Other

H

^B4Cash Deficit

E^H| Increase in

I^H Cash Balance

Net Market tBPfjM Borrowing tBjjjliS

±1 Net of Vi billion maturities other than special issues.

40

30

20

10

0

Officeof the Secretary of the Treasury

Office of Government Financing October 28, 1980-19
$Bil.

60

50

40

30

20

10

0

TREASURY FINANCING REQUIREMENTS

October - December 1980

Uses

Redemptions of

Special Issues •

— Coupon Maturities t

y2

Foreign

Nonmarketables

I Cash Deficit

55V4

Sources

4 Gov't Account Sales

4 Coupon Refundings

y4 Savings Bonds

—.and Other

Net Market | 25V4 <

Borrowing

Decrease in

Cash Balance v

ii Assumes $15 billion December 31, 1980 cash balance.

$Bil.

60

50

40

30

20

10

0

Office of the Secretary of the Treasury

Office of Government Financing October 28, 1980-20
TREASURY OPERATING CASH BALANCE

Semi-Monthly

Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec.

1980 Office of the Secretary of the Treasury

Office of Government Financing

1979 October 28, 1980-12
$Bil.

20

10

0

-10

23.9

17.5

16.1

I

fl

24.7

TREASURY NET MARKET BORROWING^

Calendar Year Quarters

22.8

COUPONS

111Over 10 yrs.

^0-10 yrs.

BILLS

1

Li

19.4

17.1

14.2 14.8

13.3

16.1

ill ill!

10.8 10.6

iillII limn

-3.9

J_ _L

I

—0.3

J_

I

—0.1

28.2

I II III IV I II III IV I II III IV I II III IV I II III IV I II III IVe

1975 1976 1977 1978 1979 1980

J/ Excludes Federal Reserve and Government Account Transactions.

e estimate

$Bil.

20

10

0

-10

Off ice of the Secretary of the Treasury Office of Government Financing October 28, 1980-6
TREASURY NET BORROWING FROM NONMARKETABLE ISSUES

•10

I II III IV II III IV I II III IV I

1975 1976 1977

Office of the Secretary of the Treasury

Office of Government Financing

e estimate

IV I

1978

II III IV

1979

--10

I II III IVe

1980

October 28, 1980-5
QUARTERLY CHANGES IN FOREIGN AND INTERNATIONAL

HOLDINGS OF PUBLIC DEBT SECURITIES

I II III IV

1975

Office of the Secretary of the Treasury

Office of Government Financing

1976 1977

III IV

1978

\] F.R.B. Purchases of marketable issues as agents for foreign and

international monetary authorities for new cash.

2/ Partly estimated.

III IV

1979

II III2/

1980

October 28, 1980-4
CUMULATIVE NET CASH FLOW IN SAVINGS BONDS u UN. $Bil.

0

-2

\^-^ 1978

\ 1979 *\

—

-4

t \ ~^- —

-6 \ —

-8

^^^^^^ 1980e :

10

I I I I I I I I I I I I i

M N

0

-2

-4

-8

-10

Office of the Secretary of the Treasury Office of Government Financing

M J J fi

Month of year

-VCash sales less redemptions

e October partly estimated. October 28, 1980-13
%

20-

18-

1974 1975

Office of the Secretary of the Treasury

Office of Government Financing

SHORT TERM INTEREST RATES

Monthly Averages

1976 1977 1978 1979

# j Through

If October

24

%

20

18

16

14

12

10

8

-6

1980

October 28, 1980-15
8

6-

SHORT TERM INTEREST RATES

Weekly Averages

:—*•' %"\V „.————•*••

•"*•.. / Commercial Paper

Jan Feb Mar Apr May Jun

1980

Jul Aug

Office of the Secretary of the Treasury

Office of Government Financing

Week ending

October 22, 1980

Sep Oct

%

20

18

16

14

12

10

8

October 28, 1980-14
1974 1975

Office of the Secretary of the Treasury

Office of Government Financing

LONG MARKET RATES

Monthly Averages

1976 1977 1978 1979 1980

October 28, 1980-17
INTERMEDIATE AND LONG MARKET RATES

Weekly Averages

Office of the Secretary of the Treasury

Office of Government Financing

May June

1980

October 28,1980-16
%

17

16

15

14

v~\

Office of the Secretary of the Treasury

Office of Government Financing

MARKET YIELDS ON GOVERNMENTS

Bid Yields

March 24, 1980

"/orIS

12

11

r

j—_l_j_—i—r

•i i r I I

—|70 •&>

-113 —

12

11

w 10 * 10K................... ~10 — ^^^ 91—i—I i I I I i I i I i I I I I Q ^^^^ 10 12 14 16 18 20 22 24 26 28 30

4 5 6

Years to Maturity

%

17

16

15

14

13

12

11

10

9

8

7

6

October 28, 1980-9
NEW MONEY FROM NONCOMPETITIVE BIDS IN

TREASURY BILL AUCTIONS AND AVERAGE AUCTION YIELDS

$Mil

—600

Office of the Secretary of the Treasury

Office of Government Financing

Apr. May Jun.

1980 Auction Dates

^ Discount basis.

* New money is the difference between noncompetitive bids on the

new issues and maturing bills previously bid noncompetitively. October 28, 1980-2
100%

80 I

60

40

20

0

Rate(%) 9

Length(yrs) 1 5

PERCENT DISTRIBUTION OF ALLOTMENTS

IN TREASURY BOND AUCTIONS

1

•

—

%

i

i i

i

8% 9 9y8 8% 91/a 10y8 103/8 101/2 11% 12% 10 10% 10%

30 15 30 15 30 15 30 15 30 15 30 15 30

1979_ 1980

HI Dealers Insurance Cos.! Pension Fds. Ill Other

Com'I Banks V/A Corporations 111! Individuals

-100%

80

60

40

20

0

Office of the Secretary of the Treasury

Office of Government Financing October 28, 1980-21
$Bil.

450

400-

350

300

250

200

150

100

50

0

PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT

BY MATURITY

COUPONS

Over 10 years

7-10 years

E^ 2-7 years

32 years & under

BILLS

September 30, 19801

1970 1971 1972 1973 1974 1975 1976

As of December 31

1977 1978 1979

463.7

t

48.6

_i_

17.3

98.0

144.1

155.7

Office of the Secretary of the Treasury Office of Government Financing October 28, 1980-3
Years

5

AVERAGE LENGTH OF THE MARKETABLE DEBT

Privately Held

3-

—

January 1976

"** \ a. 2Years

•V/y^iy 45 Months^

%ij

September 1980

3 Years

9 Months

\

1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979

Office of the Secretary of Hit Treasury

Office of Government Financing October 28. 1980-1
$Bil.

900-

800

700

600

500

400

300

200

100

TRADING VOLUME AND OPEN INTEREST IN 90 DAY

TREASURY BILL FUTURES CONTRACTS17

OPEN INTEREST

I II III IV I II III IV

1976 1977

II III IV I II III IV I II III

1978 1979 1980

EgS? nnn

I II III IV

1976

II III IV

1977

TRADING VOLUME

II III IV

1978

I II III IV

1979

^ Contracts traded on the International Monetary Market (IMM).

I II III

1980

$Bil.

900

800

700

600

500

400

300

H200

100

Office of the Secretary of the Treasury

Office of Government Financing October 28,1980-8
$Bil.

3

0

DELIVERABLE BILLS AND DELIVERIES ON 90 DAY

TREASURY BILL FUTURES CONTRACTS^

6 mo.

3 mo.

Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep

1976 1977 1978 1979 1980

J/Contracts traded on the International Monetary Market(IMM).

i/Consists of the amount of accepted competitive tenders for the new

3 month bill and the 6 month bill issued 3 months earlier. October 28.19807 Office of the Secretary of the Treasury

Office of Government Financing

$Bil.

3

0
OWNERSHIP OF MATURING COUPON ISSUES

October 1980 - March 1981^

(In Millions of Dollars)

Maturing Issues

Total

Privately

Held

Commercial

Banks

Savings Institutions State &

Local

General

Funds

Corpora

tions

Other

Private

Domestic

Holders

Foreign Longterm 11

Investors

Intermediateterm ?/

Investors

3 1/2% Bd. 11/15/80

7 1/8% Nt. 11/15/80

9 1 /4% Nt. 11 /30/80

5 7/8% Nt. 12/31/80

9 7/8% Nt. 12/31/80

9 3/4% Nt. 1 /31 /81

7% Nt. 2/15/81

7 3/8% Nt. 2/15/81

9 3/4% Nt. 2/28/81

6 7/8% Nt. 3/31/81

9 5/8% Nt. 3/31 /81

1128

3790

2830

2654

2989

2647

1258

3671

2461

2562

2783

47

791

405

456

406

413

382

950

635

445

476

67

18

9

14

3

3

19

23

9

9

10

94

229

111

279

109

74

161

417

124

175

75

78

137

62

141

67

87

20

121

63

126

55

34

198

65

354

28

109

65

151

21

181

52

808

1665

1549

1096

1647

1474

604

1668

1213

936

1193

752

629

314

729

487

7

341

396

690

922

TOTAL 28,773 5406 184 1848 957 1258 13,853 5267

Office of the Secretary of the Treasury

Office of Government Financing

U Amounts for investor classes are based on the August 1980 Treasury Ownership Survey.

2/ Includes State and local pension funds and life insurance companies.

31 Includes casualty and liability insurance companies, mutual savings banks, savings and loan

associations, and corporate pension trust funds.

October 28, 1980-18
TREASURY MARKETABLE MATURITIES

Privately Held, Excluding Bills and Exchange Notes

$Bil.

6

4

2

0

6

4

2

0

6

4

2

0

6

4

2

0

4

2

0

1980

e!o 6-470

4.0^4.0 4.0K33.9

5.8

1

4.5

I

I

2.9

1983 6£

5.2

1 Jz

i.ofc

2.4

2.3 ?.5

1984 I 3.2 3^ 3.0

49 E3

5.6

J2.8 1

2.7

2.5

JFMAMJJASOND

HSecurities issued prior to 1978

New issues calendar year 1978 Office of the Secretary of the Treasury

Office of Government Financing

$Bil.

6

2 -

ol—

8

6

4 -

2

0

4

2

0

2

0

4

2

0

2.8

4.6

VA

6.0

4.1

I

2.0

1985 6 4

3.1

1986

7.5

.3

1987

1.8

-

2 4 1988

g I

2.3

2- 1.4

• 0

2.2

1989

3.8

1990 2.6

JFMAMJ JASOND

]New issues calendar year 1979

|Issued orannounced through October 24, 1980 October 28, 1980-10
1.9

2.9

1.8

22

I

TREASURY MARKETABLE MATURITIES

Privately Held, Excluding Bills and Exchange Notes

$Bil

2.7

m

n

.5

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2.8

2.2

2

1.5

0

2.5

e

1.3

1.5

1.5

m

.9

4-

2-

2.7

I

1.8

2.0

3.9

1

2001

2002

2003

2004

2005

2006

2007

2008

2009

19 2010

1.4

1.2

3.6

3.4

$Bil.

2

0

4

2

0

4

2

0

4

2

0

2

0

2

0

2

0

2

0

2

0

4

2

0

J FMAMJ JASOND JFMAMJJ ASOND

Office of the Secretary of the Trenwy Office of Government Financing

Securities issued prior to 1978

New issues calendar year 1978

INew issues calendar year 1979

|Issued orannounced through October 24, 1980

October 28, 1980-11
$Bil.

3

2

1

0

NET NEW MONEY IN AGENCY FINANCE, QUARTERLY

Privately Held

$Bil.

4

3

2

.1 • -_

FNMA

mlliJ1.

1" *

O

4-

3-

2-

1-

n * ..il

FHLB*

llllmlli

:j- *

I II III IV I II HI IV I II III IV I II III IV I II III IV

1976 1977 1978 1979 1980

* Less than $50 miion.

111!h.

FCA

i.i.Illlli

GNMA

Mortgage Backed

Secur ties

I II III IV I II III IV I II III IV I II IH IV I II III6 IV

1976 1977 1978 1979 1980

e Partly estimated.

Office of the Secretary of the Treasury

Office of Government Financing

J/ Includes FHLB dtecount notes, bonds, and FHLMC certificates,

mortgage-backed bonds, and mortgage participation certificates. October 28.1980-22
$Bil.

16

14

12

10

8

6

4

2

0

4

2

1980

14.7

5 21984

1981

12.7

1985

2.4

I

4-|23.8

II 1.4I

AGENCY MATURITIES^

1982

1986

2.6

I..I

Privately Held

$Bil.

1983

5£4.8 4.8

1987

1.2

li

2-11.9

II

I N III IV I II III IV I II III IV I II III IV

1988

i.o U]*

1989

& .4 .4

1990

8 6 • mA

1991

3 • ••

1992

2 .2 .1

1993

.3

1994 1995

.1

~_ 1996 1997

1.1

• -£»

1998

.1 2 .2 .1

1999

A^

I 2000 2001

.1

2002

.2

2003

I 2004 2005

£. A

2006

J. A

2007

.3 .2

Z 2008

.3 .3

2009 2010 2011

I 2012

.5

2013

.2

2014

.2

2015

I II III IV I II III IV I II III IV I II III IV

Office of the Secretary of the Treasury

Office of Gonernment Financing

Calendar Years Quarterly

if Issued or announced through September 30, 1980.

October 28.1980-23