TREASURY FINANCING REQUIREMENTS

April — June 1979

$Bil

30

20-

10-

0

Uses

Gov't Acc't Investment }

Coupon

Maturities t

Federal Reserve

Certificate ^

Nonmarketables

V21 Agency Maturities

4 Increase in Cash Balance

Office of the Secretary of the Treasury

Office of Government Financing

35V4

Sources

4 Special Issues

Coupon a

Refundings

Cash Surplus t

$Bil

30

20

10

0

July 24, 1979-15
$Bil.

30

20

10

0

TREASURY FINANCING REQUIREMENTS

July—September 1979J/

Uses

Gov't Acc't Investment }

Coupon *

Maturities *

Ejm a Cash

!•* Deficit

^TM

Sources

31 %

^M 4 Special Issues 2/

Nonmarketables^Vfe

x Coupon

" Refundings

Net Market

Done

Borrowing 7) EH To Be r^g

Decrease in Cash Balance }

J/Assumes $15 billion September 30, 1979 cash balance.

2/Net of exchanges for maturing marketable securities of $% billion.

$Bil.

30

20

10

0

Office of the Secretary of the Treasury

Office of Government Financing July 24. 1979-17
TREASURY NET MARKET BORROWING^

Calendar Year Quarters

II III

1975

Office of the Secretary of the Treasury Office of Government Financing

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

1976 1977 1978

\J Excludes Federal Reserve and Government Account Transactions.

« I

—10

1979

July 24, 1979-6
TREASURY NET BORROWING FROM NONMARKETABLE ISSUES

$Bil.

10

8-

Savings Bonds & Other

State & Local Series

Foreign Nonmarketables

1.4 1.5

_

1 _L

II III IV I II III IV I

1975 1976

9.8

-1-8-1.9

_L

II III IV I II III IV I II

1977 1978 1979

$Bil.

10

Office of the Secretary of the Treasury

Office of Government Financing July 24, 1979-3
QUARTERLY CHANGES IN FOREIGN AND INTERNATIONAL

HOLDINGS OF PUBLIC DEBT SECURITIES

$Bil.i 1 1 1 1 i$Bil.

iHl Nonmarketable

Marketable

^S Add-ons^

•• Other Transactions

6.2

1.0 1.0 1JL UL

-0.5

20

16

12

8

4

0

-4

-8

-12

-16

-4.9

II III

1975

Office of the Secretary ot the Treasury

Office of Government Financing

IV I II III IV I

1976

III IV I II III IV

1977

_7 F.R.B. Purchases of marketable issues as agents for foreign and

international monetary authorities for new cash.

1/ Partly estimated.

1978

asva

-14.4

20

16

12

8

4

0

-4

-8

-12

-16

||V

1979

Juiy 24, 1979 2
$Bil

20

TREASURY OPERATING CASH BALANCE

Semi-Monthly

10

0

-10

Jan

Operating ^

Balance

Mar May Jul

1978

Office of the Secretary of the Treasury Office of Government Financing

Sep Nov Jan Mar May

1979

Without

^—NewBorrowing

Jul Sep

JjIv24, 1979-12
SHORT TERM INTEREST RATES

Monthly Averages

JSNJMMJSNJMMJSNJMMJSNJMMJSNJMMJ

1974 1975 1976 1977 1978 1979

Officeof the Secretary of the Treasury

Officeof Government Financing July 24, 1979-4
"7

\

I

<\j

\

%

12-

11-

10

SHORT TERM INTEREST RATES

Weekly Averages

%

12

-111

10

8

_ Prime Rate

Through Week Ending

July 18, 1979

"T

Commercial Paper Federal Funds

3 Month

Treasury Bill

I I I I I I I I I I I I II I I I I I i i i 111 i i i I

-8

Jan

Office of the Secretary of the Treasury

Office of Government Financing

Feb Mar Apr

1979

May June July

July 24, 1979-7
%

11

LONG MARKET RATES

Monthly Averages

New Aa Corporates

New 20-Year

Municipal Bonds

Treasury

20-Year

•—

Through Week Ending

July 20, 1979

J SN JMMJ SN JMMJ SNJMMJSNJMMJ,SN JMMJ

1974 1975 1976 1977 1978 1979

%

11

Office of the Secretary of the Treasury

Office of Government Financing July 24, 1979-5
%

INTERMEDIATE AND LONG MARKET RATES

Weekly Averages

11 New Conventional

Mortgages y

New Aa

Corporates

%

Through Week Ending

July 20, 1979 -11

10-

8

6-

J__L

Jan

Treasury 20-Year

New 20-Year

Municipal Bonds

i i I I I I ll I I I ll I I I I I i l I

Feb Mar Apr

1979

May

Treasury 7-Year

June

Monthly, weekly data not available. Office of the Secretary of the Treasury Office of Government Financing

10

8

I I I

July

July 24, 1979-8
%

11

MARKET YIELDS ON GOVERNMENTS

Bid Yields

%

11

%

10

9

8

♦•••••••••>»»>••••»••—•••—>•••>•••+

10-

8

0

Office of the Secretary of the Treasury

Office of Government Financing

April 20,1979 10 12 14 16 18 20 22 24 26 28 30 — 10

.9

July 20,1979

-8

8 10

Years to Maturity

July 24, 1979-19
$Bil

400

300

200

100

0

TRADING VOLUME AND OPEN INTEREST IN 90 DAY

TREASURY BILL FUTURES CONTRACTS

Open Interest

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

1976 1977 1978 1979

IV

TRADING VOLUME

III IV I

$Bil

-400

-300

200

100

0

I II III

1976 1977

III IV

1978 1979

Office of the Secretary of the Treasury Office of Government Financing July 24, 1979-21
$Bil.

3h

0

DELIVERABLE BILLS AND DELIVERIES ON 90 DAY

TREASURY BILL FUTURES CONTRACTS

"] Estimated

> Deliverable

J Supply17

Mar Jun Sep Dec

1976

Mar Jun Sep Dec

1977

Mar Jun Sep Dec Mar Jun

1978 1979

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

3 month bill and the 6 month bill issued 3 months earlier.

$Bil.

3

0

Office of the Secretary of the Treasury

Office of Government Financing July 24, 1979 22
*yV NET SAVINGS INFLOWS (LESS INTEREST) AND

r NET INVESTMENT IN MONEY MARKET CERTIFICATES

$ Bill 15.2

14h

12

10

8

6

4

2

0

-2

4

2 hi

$Bil

Savings and Loan Associations 14

• Money Market Certificates

H Savings Inflows

8.9

6.7 6.3

4.4

2.6 3.1

-12

-10

-8

-6

-4 3.2 2.9

IV? I1"3 H11 n

0

-2

- Mutual Savings Banks

2-° 1-8 «« 15 2i5 •? 1

• • • • II

4.2

I.8 I 1.1

I I I

-1.5

9 Ii.o «3 1.8

.5 • .4 .4 m m mt m

-.1

1

-.1

1 "1I -4l ",1l L .-1.2J -•31 -.5

Jun Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May June

1978— 1979

* Less than $50 million e estimated

2

0

-2

4

-\2

0

-2

Office of the Secretary of the Treasury

Office of Government Financing July 24, 1979-24
CUMULATIVE NET SAVINGS INFLOWS

(LESS INTEREST) TO THRIFT INSTITUTIONS*

Office of the Secretary of the Treasury

Office of Government Financing

M A M J J A

Month of Year

* Savings & Loan Assns. & Mutual Savings Banks.

JP/ Preliminary

N

July 24, 1979-18
PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT

$bii BY MATURITY

400

COUPONS

V//A Over 10yrs

I 7-10 yrs

EZ3 2-7 yrs

HI 2 yrs & under

BILLS

350

300

250

200

150

100

50

0

1969 1970 1971 1972 1973 1974 1975

As of December 31

Office of the Secretary of the Treasury

Office of Government Financing

June 30, 1979 %377.6

1976 1977 1978 1979

July 24, 1979-9
Years

5

AVERAGE LENGTH OF THE MARKETABLE DEBT

Privately Held

L| June 1967

5 Years

1 Month

June 1979

3 Years

6 Months

1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979

Office of the Secretary of the Treasury

Oftice of Government Financing July 24, 1979-1
ALLOTMENTS OF 15 YEAR AND LONG TREASURY BONDS

$Bil.

0

Other

IPension Funds

V///A Corporations

W%& Individuals

S5322 Banks

f^M Dealers

Long Bond

15 Year

Bond

m

II Qtr 1975 III Qtr 1977 I Qtr 1978 III Qtr 1978 IV Qtr 1978 I Qtr 1979 II Qtr 1979

$Bil.

0

Office of the Secretary of the Treasury

Office of Government Financing July 24, 1979-23
OWNERSHIP OF MATURING COUPON ISSUES

July-December 1979*

(In Millions of Dollars)

Maturing Issues

Total

Privately

Held

Commercial

Banks

Savings Institutions State &

Local

General

Funds

Corpora

tions

Other

Private

Domestic

Holders

Long- Foreign term u

investors

Intermediateterm 11

Investors

6 1/4% Nt. 7-31-79

6 1/4% Nt. 8-15-79

6 7/8% Nt. 8-15-79

6 5/8% Nt. 8-31-79

8 1/2% Nt. 9-30-79

6 5/8% Nt. 9-30-79

7 1/4% Nt. 10-31-79

6 1/4% Nt. 11-15-79

6 5/8% Nt. 11-15-79

7% Nt. 11-15-79

7 1 /8% Nt. 11 -30-79

7 1/2% Nt. 12-31:79

7 1/8% Nt. 12-31-79

3,021

2,739

2,109

3,026

1,851

3,517

3,877

3,111

461

1,806

.4.308

1,869

3,352

817

733

1,035

927

623

817

;]V 1,156

975

-. 175

673

1,293

784

977

39

30

23

9

48

17

44

71

1

18

37

8

88

235

184

218

281

199

242

269

411

63

195

364

263

243

469

95

120

229

51

193

175

207

31

76

382

135

422

174

128

291

167

2

102

257

357

230

359

2

239

369

775

59

429

806

1,101

681

639

191

614

544

462

585

918

794

363

984

122

1,045

1,295

451

1,329

215

798

Total 35,047 10,985 433 3,167 2,585 2,308 7,255 8,314

Office of the Secretary of the Treasury

Office of Government Financing

* Amounts for investor classes are based on the May 1979 Treasury Ownership Survey.

U Includes State and local pension funds and life insurance companies.

U Includes casualty and liability insurance companies, mutual savings banks, savings anH loan

associations, and corporate pension trust funds. July 24, 1979-20
$Bil.

6

4

2

0

6

TREASURY MARKETABLE MATURITIES

Privately Held, Excluding Bills and Exchange Notes

4.7 5.3

1979 48 5.3 5j4 5.2 • Rl 3.9B4.3 ""

1980 _. ' cn 5.7 5.4TM, 5J 5J2 5.0

I

4-3,5

2 -

H -3 /I 2

E€ 3.4 !-7l.72''9 Vj 3k|«1 0 3«l2-9B

6-

4

2

0

5.4

I

Elan

2.5 ^

4,6

2.8

1981 5 5

15.2

3.08 2.2

R

I h4 1982

4.3 8

1 f£ 2.6

.

5.8

I

2«5 1.8 2«4

1983

I

2A 2.5 2_8

831.0

5.0

2.9 • 3.3 I

4.6

1

2.2

2.7

J FMAMJJASOND

8-

6

4

2

0

4

2

0

2 -

0

4.5

2.7

1.1

4.1

I

1984

3.4

1985 3.2

1986 7.5

2.2 1987

1.8

2 -

Oi—

2.4 1988

22 1989

n i

2.3

JFMAM JJASOND

• Securities issued prior to 1977 0S New issues calendar year 1978

EZ] New issues calendar year 1977 EH3 Issued or announced through July 20, 1979 Office of the Secretary of the Treasury

Office of Government Financing July 24, 1979-10
TREASURY MARKETABLE MATURITIES

Privately Held, Excluding Bills and Exchange Notes

$Bil

2

0,

21

0

6

4

2

0

2

0

2

0

2

0

2

0

2

0

2

0

2

0

1.7

1

0 1990

1991

i

-

1992

3.0

I 1.9 1993 23

I 2 1.4

3.0

{ w « T414

.4

1995

-

1996

-

1997

-

1998

.4 | 1.1

•

-

1999

FMAMJ JASON

^| Securities issued prior to 1977

New issues calendar year 1977 Office of the Secretary of the Treasury

Office of Government Financing

$Bil

2 -

0

2

0

2

0

2

0

2

0

2

0

2

0

2

0

2h

0

2

0

2

2.2

^2.7

2000 2.6

2001

2002

2003

2004

21 2005

a i

2006

2007

2008 14

2.01 2009

2010

2011

U_

F M A M J J

S25 New issues calendar year 1978

tjjjjj Issued or announced through July 20, 1979

1.2

n

3.7

H

SON

July 24, 1979-11
NET NEW MONEY IN AGENCY FINANCE, QUARTERLY Privately Held

$Bil

. ,1.1

FNMA

• •_Hill -

1" *

$Biir

I In IIII

FCA

III 1.1. 1h

0

-1

GNMA

Mortgage

Securities

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

1975 1976 1977 1978 1979

0

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

1975 1976 1977 1978 1979

Office of the Secretary of the Treasury

Office of Government Financing

* Less than $50 million.

1/Includes FHLB discount notes, bonds, and FHLMC certificates,

mortgage-backed bonds, and mortgage participation certificates.

July 24, 1979 14
$Bil.

14

13

12

11

10

9

8

7

6

5

4

3

2

1

0

5

4

1979

11.1

5.6

1983

3.6

28 „„•

ll

1984

3.0

2.1 • 2.0 ill.

AGENCY MATURITIES^

Privately Held

$Bi

1982

1985 1986

2.4

•ill 1.7i. .9

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

- 1987 1988 1989 1990

' r, 1 11-3

iili 1.0 i3

I.I. .. - 1

1991 1992 1993 1994

1 -6 .4 - •• -L * .3 .1

" 1995 1996 1997 1998

.1 _•

1.1

1-.- -1--.1

1999 2000 2001 2002

.1 .2

" 2003 2004 2005 2006

-

£ A .1 .1

" 2007 2008 2009 2010

"- -L .3 -4 2 _2

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 Government Financing

Calendar Years Quarterly

\J Issued or announced through July 20, 1979.

* Less than $50 million.

July 24, 1979-16