%

14

12

10

8

MFederal Funds

SHORT TERM INTEREST RATES

Monthly Averages

Prime Rate

***\ \\ /.••**&. Commercial Paper

Through

Week Ending

April 18, 1979

I I I l i mil I I I _L I I I JLL

JSNJMMJSN'JMMJSNJMMJSNJMMJSNJM

1974 1975 1976 1977 1978 1979

%

14

12

10

8

Office of the Secretary of the Treasury

Office of Government Financing April 24, 1979-9
%

12

11

10

8

SHORT TERM INTEREST RATES

Weekly Averages

Prime Rate

3 Month

Treasury Bill

Week Ending

April 18, 1979

I I I I ll I I I ll I I I I I I I I I I I I I

Oct

Office of the Secretary of the Treasury

Office of Government Financing

Nov

1978

Dec Jan Feb Mar

1979

Apr

%

12

11

10

8

-7

April 24, 1979-7
o//o

-10

LONG MARKET RATES

Monthly Averages

%

y\ New Aa Corporates /• !.«•'"

10 — s •w / —

•/vk New Conventional «••••

9

' V*W....../ *-•

Mortgages

\ \ /

8 ^. ^S 4tk-

^/^N "\/ -^^ / V "•""^ Treasury ^\M . ^ ^

20-Year \ \s "~ Through

Week Ending

\ April 20, 1979

7

\/ v

y +• •-'v

New 20-Year "\ • %••••..

6

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

Municipal Bonds\

i i i i i i i i i i i ii i Ml I I I

8

-7

JSNJMMJSNJMMJSNJMMJSNJMMJ SNJM

1974 1975 1976 1977 1978 1979

Office of the Secretary of the Treasury

Office of Government Financing April 24, 1979-8
11

10

8

INTERMEDIATE AND LONG MARKET RATES

Weekly Averages

New Conventional

Mortgages ^

New Aa

Corporates

Treasury 10-Year

Treasury 20-Year

New 20-Year

Municipal Bonds

Week Ending

April 20, 1979

^Treasury 7-Year

%

11

10

8

I l I I ll- i I i

Oct Nov

1978

J_

Dec Jan

Monthly, weekly data not available

I I ll I I I ll l 1

Feb Mar

1979

I I I I I

Office of the Secretary of the Treasury

Officeof Government Financing

Apr

April 24, 1979-6
%

11

MARKET YIELDS ON GOVERNMENTS

Bid Yields

%

10

January 26, 1979 i i i

«I I I I I I

%

— 11

10

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

8

I I I I I I I

0

Office of the Secretary of the Treasury

Office of Government Financing

I I I I I I I I I I Mill

Years to Maturity

8

J_L I I I I I I

10

April 24, 1979 3
TREASURY FINANCING REQUIREMENTS January-March 1979 $Bil

Uses

Special Issues

Nonmarketables^KM—

Coupon

Maturities

Office of the Secretary of the Treasury

Office of Government Financing

y2 A Agency

t Maturities Maturitie

Cash Deficit

38% Sources

Gov't Acc't Sales

Federal Reserve

Certificate

Coupon a i

Refundings t|

Net Market

Borrowing

Decrease in

Cash Balance

April 24, 1979-14
$Bil

30

20

10

0

TREASURY FINANCING REQUIREMENTS

April — June 1979

Uses

Gov't Acc't Investment M

Federal Reservex^^^^-- Certificate|#|1

Coupon ±;

Maturitiest

Non- A

marketables1'\

Q 1/2^Agency Maturities

^Increase in Cash Balanced/

Sources

^Special Issues

Coupon.

Refundings' Net Market

Borrowing

3/4

Cash SurplusM

J7 Assumes $14 billion June 30, 1979 cash balance.

Office of the Secretary of the Treasury

Officeof Government Financing April 24, 1979- 15
NET MARKET BORROWING

April — June 1979

Total +.8

Done: 14 yr. - 10 mo. bond +1.5

2 yr. note +.7

Weekly bills —.8

Cash management bills:

April Issues 13.0

April Retirements — 14.0

June Retirements —3.0

Total —4.0

Total Done —2.6

To be Done +3.4

Office of the Secretary of the Treasury

Office of Government Financing Anril 24 1979 19
$Bil

20

10

0

-10

and Loan \/

Accounts Balance

TREASURY OPERATING CASH BALANCE

Semi-Monthly

Total

Operating }i

1 1 1 1 1 1 1

Without

—New—»

Borrowing

V

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

1978 1979

Office of the Secretary of the Treasury

Office of Government Financing Aprif24, 1979- 13
-10

I H "I IV I II III IV I II III IV I || III IV I

1975 1976 1977 1978 1979

J/ Excludes Federal Reserve and Government Account Transactions. Office of the Secretary of the Treasury Office of Government Financing

TREASURY NET MARKET BORROWING^

Calendar Year Quarters

COUPONS

[MM Over 10 yrs.

0-10 yrs.

BILLS

3.3

9.4

16.

I

-0.3

0.8

$Bil

20

0.6

10

6.4

n

0

•10

April 18. 1979-9
TREASURY NET BORROWING FROM NONMARKETABLE ISSUES

$Bil.

10

8

ISavings Bonds &Other

| State &Local Series

Foreign Nonmarketables

1.4 1.5

——

9.8

1.4 1.0

-1.8

_L

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

1975 1976 1977 1978 1979

Office of the Secretary of the Treasury

Office of Government Financing April 18, 1979*20
CUMULATIVE NET CASH FLOW IN E AND H SAVINGS BONDS 1/

$ Mil

800

600

400

200 r0

-200

-400 —

-600 —

-800

-1000

-1200 —

-1400 —

Office of the Secretary of the Treasury Office of Government Financing

1979

M

1977

-..tfsrfiU5-"" 1976

..^^"^1975

1

M J J

Month of year

-i/Cash sales less redemptions

N

$ Mil

800

600

400

200

0

-200

-400

-600

-800

-1000

-1200

-1400

April 18, 1979-3
$Mil

800

600

400

443?;

200

0

Office of the Secretary of the Treasury Office of Government Financing

SALES OF E AND H SAVINGS BONDS

H Bonds

E Bonds $ 500 and Over

E Bonds $ 200 and Under

$Mil

800

600

400

:462s i::436

M M J S N

1977

M M J SNJM

1978 1979

-200

0

April 18, 1979-24
$Mil

1200

1000

800-

600-

400-

200-

Office of the Secretary of the Treasury

Office of Government Financing

REDEMPTIONS OF E AND H SAVINGS BONDS

I |H Bonds

]E Bonds $500 and Over

liilE Bonds $200 and Under

April 24, 1979-4
PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT

$bii BY MATURITY

400

350

300

250

200

150

100

50

0

1969

Office of the Secretary of the Treasury

Office of Government Financing

COUPONS

12/2 Over 10 yrs

1970 1971 1972 1973 1974 1975

As of December 31

380.0

1976 1977 1978 1979

March

April 18, 1979 18
AVERAGE LENGTH OF THE MARKETABLE DEBT

Privately Held

L| June 1967

5 Years

1 Month

March 1979

3 Years

4 Months

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

Office of the Secretary of the Treasury Office of Government Financing April 18,1979-2
OWNERSHIP OF THE MATURING ISSUES

May 1979 — April 1980*

(In Millions of Dollars)

Total

Savings Institutions

Stats & Other

Maturing Issues Privately Commercial Long- Intermediate- Local Corpora Private Foreign

Held Banks term 1/

Investors

term ^J

Investors

General

Funds

tions Holders

7 7/8%Nt. 5-15-79 1,719 899 4 121 85 52 445 113

6 1/8% Nt. 5-31-79 1,848 515 1 140 256 74 216 646

7 3/4% Nt. 6-30-79 1,625 725 17 215 51 33 468 116

6 1/8%Nt. 6-30-79 2,012 557 10 309 155 128 56 797

6 1/4% Nt. 7-31-79 3,021 872 39 330 420 278 122 960

6 1/4%Nt. 8-15-79 2,739 771 29 178 109 85 773 794

6 7/8%Nt. 8-15-79 2,109 960 22 231 100 180 263 353

6 5/8%Nt. 8-31-79 3,025 936 11 338 209 354 164 1,013

8 1/2% Nt. 9-30-79 1,851 660 46 249 58 7 740 91

6 5/8%Nt. 9-30-79 3,517 944 5 238 413 426 300 1,191

7 1/4% Nt. 10-31-79 3,877 1,220 44 273 267 357 396 1,320

6 1/4%Nt. 11-15-79 3,111 1,180 37 478 229 557 140 490

6 5/8%Nt. 11-15-79 461 147 37 51 31 17 178 0

7%Nt. 11-15-79 1,806 673 19 219 45 280 570 0

7 1/8% Nt. 11-30-79 4,308 1,415 41 360 395 513 260 1,324

7 1/2% Nt. 12-31-79 1,869 805 8 272 124 33 407 220

7 1/8% Nt. 12-31-79 3,304 1,016 91 256 413 398 300 830

7 1/2%Nt. 1-31-80 3,510 1,517 64 392 275 200 535 527

6 1/2%Nt. 2-15-80 3,147 1,383 70 309 129 728 80 448

7 5/8% Nt. 2-29-80 3,478 1,408 44 433 264 215 388 726

7 1/2% Nt. 3-31-80 5,352 2,344 50 661 193 396 602 1,106

7 3/4%Nt. 4-30-80 2,741 1,232 15 155 164 126 353 696

Total 60,430 22,179 704 6,208 4,385 5,437 7,756 13,761

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

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

.^/Includes casualty and liability insurance companies, mutual savings banks, savingsand loan associations,

and corporate pension trust funds.

Office of the Secretary of the Treasury

Office of Government Financing April 24, 1979 - 5
$Bil.

6

4

2

0

6h

4

2

0

6

4

2

0

6

4

2

0

6

4

2

0

4.7

3.5|

TREASURY MARKETABLE MATURITIES

Privately Held, Excluding Bills and Exchange Notes

1979

1980

5.4r- ^

f^4 2 2.7tri9

01t

7^3 5!3" 5.2

3.8*4,3 ~

I

5.0

3^4^3.1 Kj 3.4 12.9

5.7

I 8-

6

4

2

0

4

2

0

4.5

m

m

2.8

1.2

1984

1985

1986

3.4

I

.3.2

7.5

5.0 5r^

nan

4.7

1981 5.4 5.0

I

4.3

5.8

I

2.5B

1

2.6

2.9

6.4

I

2.5

2.4

1982

2.5

1983

1.0

1.8

2.9

2.4

4.6

2.2

3.3

2.7

n 2 -

ol—

2

0

2.2

4.1

I

1987

2.4 1988

1989

1.8

2.3

F M A M J A S O N D FMAM JJASOND

Office of the Secretary of the Treasury

Office of Government Financing

(Securities issued prior to 1977 BESJNew issues calendar year 1978

]New issues calendar year 1977 111 Issued or announced through April 20, 1979

April 24, 1979- 11
$Bil

2 -

o;

21

0

6|

4

2

0

2

0

2

0

2

0

2

0

2

0

ol

21-

o.l—

1.8

I

1.9

3.0

1

.4

TREASURY MARKETABLE MATURITIES

Privately Held, Excluding Bills and Exchange Notes

1990

$Bil

2

o!

2|

oi

2

0|

2

0

2|

0

2.2

I

2000 y?

1991

1992

3.1

1993 23

1994

1995

1996

1997

1998

1999

.8

1.4

1.1

2i|-

0

2

2-

01—

s2.7

2.1

B

2001

2002

2003

2004

2005

2006

2007

2008 1.4

2009

2010

2011

1.2

_a.3.6

FMAMJ JASON

^| Securities issued prior to 1977

88! New issues calendar year 1977

FMAMJ A S O N D

Office of the Secretary of the Treasury

Office of Government Financing

£29 New issues calendar year 1978

j j Issued or announced through April 20, 1979

April 24, 1979 - 12
$Bil

0

NET NEW MONEY IN AGENCY FINANCE, QUARTERLY

Privately Held

FCA

• h.Illi III 1.1.

1111 *

*

FHLB^

..ill 1

rII'

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

$BII-

? -

1 -

^ m * 1 ,l

FNMA

• •_ml1

1- 1" *

GNMA

Mortgage

Securities

Backed

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.

April 24. 1979 2
Office of the Secretary of the Treasury

Office of Government Financing

AGENCY MATURITIES^/

Privately Held

* Less than $50 million

1987

9 1-1 B

III!

1991

1988

1.3 1.0 a

I.I.

1992

1989 1990

.2

1993 1994

1 -

.3 ±

1

0

1

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

Calendar Years Quarterly

XI Issued or announced through April 23, 1979

1995 1996 1997 1.1

l-_.

.1

1998

.1 -2 -2 .1

" 1999

.1

2000 2001 2002

.2

2003 2004 2005

- J.

2006

.1 .1

" 2007

• 1

2008

.3 .4

• •

2009

.2

2010

IV I II III IV I II III IV

April 24, 1979- 18