Treasury Financing Requirements 

 Ja

(Projected) (Actuals) 

Deficit Funding (Def + / Surplus -) 108 80 

Means of Financing

Change in Cash Balance 22 21 Net Non-Marketable Financing 4 19 

Other* 19 -2 

Net Marketable Financing 63 42 

Net Marketable Financing 63 42 

Bills 33Nominal Notes -5TIPS 19Bonds -4

Notes:

Starting Cash Balance 52 52 Ending Cash Balance 30 31 

* Includes direct loan activity, changes in accrued interest, checks outstanding, minor miscellaneous transactions, discount and inflation accretion on Treasuries.Note: Totals may not add due to rounding.

 October - December 2006
Marketable Treasury Coupon Flows 

Date

Maturing Coupon 

Securities 

(Excluding SOMA 

holdings)

Coupon 

Payments

February 15, 2007 35 27 February 28, 2007 23 3 March 15, 2007 0 1 March 31, 2007 24 3 April 15, 2007 0 2 April 30, 2007 22 3 May 15, 2007 55 22 May 31, 2007 21 3 
TREASURY DAILY OPERATING CASH BALANCE

FY 2005 FY 2006 FY 2007

Date Total Date Total Date Total

10/1/2004 18.3 10/3/2005 14.7 10/2/2006 52.8

10/4/2004 21.5 10/4/2005 9.5 10/3/2006 26.7

10/5/2004 17.4 10/5/2005 11.6 10/4/2006 27.5

10/6/2004 20.5 10/6/2005 19.1 10/5/2006 20.6

10/7/2004 14.2 10/7/2005 15.2 10/6/2006 18.7

10/8/2004 10.9 10/11/2005 15.4 10/10/2006 20.6

10/11/2004 10.9 10/12/2005 7.8 10/11/2006 11.9

10/12/2004 10.9 10/13/2005 10.0 10/12/2006 11.7

10/13/2004 12.9 10/14/2005 9.2 10/13/2006 10.4

10/14/2004 20.4 10/17/2005 29.3 10/16/2006 12.5

10/15/2004 25.9 10/18/2005 27.1 10/17/2006 12.2

10/18/2004 34.5 10/19/2005 26.9 10/18/2006 14.9

10/19/2004 32.4 10/20/2005 30.9 10/19/2006 24.0

10/20/2004 30.9 10/21/2005 29.4 10/20/2006 22.8

10/21/2004 35.4 10/24/2005 30.6 10/21/2006 27.0

10/22/2004 32.0 10/25/2005 27.3 10/24/2006 26.0

10/25/2004 33.7 10/26/2005 24.6 10/25/2006 24.3

10/26/2004 27.8 10/27/2005 34.1 10/26/2006 32.8

10/27/2004 25.7 10/28/2005 41.4 10/27/2006 33.6

10/28/2004 31.4 10/31/2005 40.7 10/30/2006 37.0

10/29/2004 48.1 11/1/2005 24.1 10/31/2006 57.3

11/1/2004 35.1 11/2/2005 27.5 11/1/2006 39.9

11/2/2004 34.1 11/3/2005 14.7 11/2/2006 52.9

11/3/2004 14.9 11/4/2005 12.4 11/3/2006 32.1

11/4/2004 23.3 11/7/2005 12.4 11/6/2006 34.0

11/5/2004 19.9 11/8/2005 8.3 11/7/2006 28.8

11/8/2004 21.1 11/9/2005 9.3 11/8/2006 26.1

11/9/2004 16.4 11/10/2005 18.0 11/9/2006 35.7

11/10/2004 12.9 11/11/2005 18.0 11/10/2006 36.6

11/11/2004 12.9 11/14/2005 24.1 11/13/2006 40.9

11/12/2004 28.9 11/15/2005 4.5 11/14/2006 38.2

11/15/2004 10.5 11/16/2005 7.2 11/15/2006 5.2

11/16/2004 13.4 11/17/2005 18.0 11/16/2006 15.6

11/17/2004 10.5 11/18/2005 16.5 11/17/2006 12.6

11/18/2004 6.3 11/21/2005 17.9 11/20/2006 14.2

11/19/2004 5.1 11/22/2005 12.6 11/21/2006 10.2

11/22/2004 6.0 11/23/2005 4.7 11/22/2006 6.3

11/23/2004 18.1 11/24/2005 4.7 11/23/2006 6.3

11/24/2004 14.1 11/25/2005 12.1 11/24/2006 18.0

11/25/2004 14.1 11/28/2005 14.2 11/27/2006 20.2

11/26/2004 20.6 11/29/2005 10.5 11/28/2006 14.5

11/29/2004 24.3 11/30/2005 6.0 11/29/2006 17.4

11/30/2004 18.0 12/1/2005 16.1 11/30/2006 20.9

12/1/2004 7.6 12/2/2005 11.8 12/1/2006 5.6

12/2/2004 8.5 12/5/2005 10.4 12/4/2006 7.6

12/3/2004 7.4 12/6/2005 5.3 12/5/2006 13.2

12/6/2004 7.0 12/7/2005 7.8 12/6/2006 16.0

12/7/2004 15.5 12/8/2005 10.4 12/7/2006 10.9

12/8/2004 12.3 12/9/2005 10.1 12/8/2006 11.2

12/9/2004 5.4 12/12/2005 15.3 12/11/2006 15.7

12/10/2004 6.4 12/13/2005 8.5 12/12/2006 12.4

12/13/2004 11.4 12/14/2005 12.5 12/13/2006 11.3

12/14/2004 13.7 12/15/2005 35.7 12/14/2006 5.2

12/15/2004 39.8 12/16/2005 43.8 12/15/2006 45.3

12/16/2004 33.6 12/19/2005 48.1 12/18/2006 59.2

12/17/2004 32.8 12/20/2005 46.3 12/19/2006 57.1

12/20/2004 36.2 12/21/2005 46.9 12/20/2006 59.7

12/21/2004 35.1 12/22/2005 35.4 12/21/2006 44.2

12/22/2004 34.6 12/23/2005 43.4 12/22/2006 47.3

12/23/2004 24.5 12/27/2005 49.0 12/26/2006 54.5

12/24/2004 26.9 12/28/2005 42.7 12/27/2006 47.4

12/27/2004 31.9 12/29/2005 38.5 12/28/2006 32.9

12/28/2004 30.5 12/30/2005 36.6 12/29/2006 30.7

12/29/2004 34.8 1/2/2006 36.6 1/1/2007 30.7

12/30/2004 20.0 1/3/2006 18.3 1/2/2007 40.0

12/31/2004 24.7 1/4/2006 18.4 1/3/2007 20.5

1/3/2005 20.5 1/5/2006 13.0 1/4/2007 13.6

1/4/2005 16.8 1/6/2006 14.2 1/5/2007 14.0

1/5/2005 21.0 1/9/2006 18.3 1/8/2007 18.9

1/6/2005 10.2 1/10/2006 16.9 1/9/2007 19.9

1/7/2005 8.4 1/11/2006 14.6 1/10/2007 16.9

1/10/2005 13.7 1/12/2006 6.3 1/11/2007 13.3

1/11/2005 12.4 1/13/2006 7.0 1/12/2007 12.7

1/12/2005 10.6 1/17/2006 32.2 1/16/2007 20.9

1/13/2005 10.8 1/18/2006 38.1 1/17/2007 29.4
1/14/2005 10.9 1/19/2006 41.2 1/18/2007 30.2

1/17/2005 10.9 1/20/2006 44.1 1/19/2007 34.8

1/18/2005 28.1 1/23/2006 53.6 1/22/2007 48.1

1/19/2005 38.3 1/24/2006 60.1 1/23/2007 59.2

1/20/2005 36.3 1/25/2006 60.3 1/24/2007 61.3

1/21/2005 42.8 1/26/2006 62.3

1/24/2005 52.2 1/27/2006 57.3

1/25/2005 52.8 1/30/2006 62.6

1/26/2005 54.8 1/31/2006 68.9

1/27/2005 50.0 2/1/2006 55.3

1/28/2005 44.8 2/2/2006 65.7

1/31/2005 61.3 2/3/2006 36.7

2/1/2005 49.3 2/6/2006 38.6

2/2/2005 53.0 2/7/2006 33.3

2/3/2005 29.7 2/8/2006 30.1

2/4/2005 20.5 2/9/2006 35.0

2/7/2005 23.0 2/10/2006 12.0

2/8/2005 19.2 2/13/2006 15.6

2/9/2005 15.8 2/14/2006 13.7

2/10/2005 24.6 2/15/2006 17.6

2/11/2005 5.0 2/16/2006 32.9

2/14/2005 4.5 2/17/2006 11.7

2/15/2005 14.7 2/20/2006 11.7

2/16/2005 20.6 2/21/2006 17.3

2/17/2005 29.0 2/22/2006 9.2

2/18/2005 12.7 2/23/2006 21.0

2/21/2005 12.7 2/24/2006 5.4

2/22/2005 18.5 2/27/2006 10.4

2/23/2005 13.5 2/28/2006 18.1

2/24/2005 30.7 3/1/2006 5.5

2/25/2005 17.2 3/2/2006 12.0

2/28/2005 19.6 3/3/2006 7.7

3/1/2005 7.0 3/6/2006 11.1

3/2/2005 10.1 3/7/2006 6.7

3/3/2005 11.8 3/8/2006 10.7

3/4/2005 3.4 3/9/2006 17.1

3/7/2005 6.6 3/10/2006 7.0

3/8/2005 15.4 3/13/2006 13.5

3/9/2005 10.8 3/14/2006 10.5

3/10/2005 15.4 3/15/2006 15.4

3/11/2005 6.2 3/16/2006 31.8

3/14/2005 14.8 3/17/2006 24.0

3/15/2005 35.2 3/20/2006 28.2

3/16/2005 43.6 3/21/2006 25.1

3/17/2005 48.9 3/22/2006 22.2

3/18/2005 43.0 3/23/2006 29.0

3/21/2005 47.5 3/24/2006 20.7

3/22/2005 44.8 3/27/2006 25.3

3/23/2005 42.0 3/28/2006 20.4

3/24/2005 41.2 3/29/2006 21.9

3/25/2005 34.2 3/30/2006 17.6

3/28/2005 36.1 3/31/2006 8.2

3/29/2005 34.4 4/3/2006 9.5

3/30/2005 34.2 4/4/2006 7.1

3/31/2005 22.4 4/5/2006 8.8

4/1/2005 10.2 4/6/2006 7.5

4/4/2005 14.6 4/7/2006 9.0

4/5/2005 9.7 4/10/2006 11.9

4/6/2005 12.4 4/11/2006 11.5

4/7/2005 12.8 4/12/2006 10.5

4/8/2005 6.3 4/13/2006 9.5

4/11/2005 10.1 4/14/2006 13.7

4/12/2005 13.0 4/17/2006 13.2

4/13/2005 12.5 4/18/2006 30.2

4/14/2005 5.4 4/19/2006 38.6

4/15/2005 18.4 4/20/2006 18.3

4/18/2005 27.7 4/21/2006 21.2

4/19/2005 46.9 4/24/2006 36.9

4/20/2005 55.6 4/25/2006 69.3

4/21/2005 41.9 4/26/2006 77.7

4/22/2005 45.0 4/27/2006 61.0

4/25/2005 59.5 4/28/2006 79.0

4/26/2005 80.3 5/1/2006 84.0

4/27/2005 84.6 5/2/2006 100.2

4/28/2005 72.8 5/3/2006 88.8

4/29/2005 76.4 5/4/2006 80.3

5/2/2005 83.2 5/5/2006 79.2
5/3/2005 67.3 5/8/2006 83.0

5/4/2005 71.2 5/9/2006 77.4

5/5/2005 51.4 5/10/2006 73.8

5/6/2005 49.7 5/11/2006 64.7

5/9/2005 53.2 5/12/2006 64.4

5/10/2005 49.5 5/15/2006 24.6

5/11/2005 46.5 5/16/2006 28.3

5/12/2005 31.1 5/17/2006 24.5

5/13/2005 28.2 5/18/2006 24.5

5/16/2005 30.8 5/19/2006 23.3

5/17/2005 30.5 5/22/2006 26.7

5/18/2005 27.8 5/23/2006 22.5

5/19/2005 21.2 5/24/2006 18.2

5/20/2005 18.4 5/25/2006 14.9

5/23/2005 20.7 5/26/2006 15.5

5/24/2005 15.6 5/29/2006 15.5

5/25/2005 12.7 5/30/2006 18.8

5/26/2005 13.6 5/31/2006 28.1

5/27/2005 14.6 6/1/2006 8.8

5/31/2005 16.6 6/2/2006 7.1

6/1/2005 9.5 6/5/2006 7.4

6/2/2005 12.6 6/6/2006 11.3

6/3/2005 5.6 6/7/2006 15.2

6/6/2005 4.9 6/8/2006 9.6

6/7/2005 11.2 6/9/2006 11.0

6/8/2005 8.0 6/12/2006 16.9

6/9/2005 5.0 6/13/2006 18.2

6/10/2005 5.7 6/14/2006 23.3

6/13/2005 11.3 6/15/2006 34.1

6/14/2005 17.9 6/16/2006 42.0

6/15/2005 49.3 6/19/2006 49.4

6/16/2005 45.5 6/20/2006 60.3

6/17/2005 46.7 6/21/2006 63.9

6/20/2005 52.5 6/22/2006 49.5

6/21/2005 63.0 6/23/2006 52.1

6/22/2005 64.2 6/26/2006 58.4

6/23/2005 44.1 6/27/2006 56.0

6/24/2005 44.0 6/28/2006 53.5

6/27/2005 49.7 6/29/2006 49.7

6/28/2005 46.9 6/30/2006 45.8

6/29/2005 51.8 7/3/2006 20.4

6/30/2005 33.2 7/5/2006 17.8

7/1/2005 10.1 7/6/2006 17.3

7/5/2005 11.9 7/7/2006 16.1

7/6/2005 9.1 7/10/2006 19.7

7/7/2005 6.8 7/11/2006 16.3

7/8/2005 6.1 7/12/2006 13.8

7/11/2005 7.9 7/13/2006 15.9

7/12/2005 7.7 7/14/2006 15.2

7/13/2005 5.3 7/17/2006 14.6

7/14/2005 11.4 7/18/2006 12.4

7/15/2005 14.4 7/19/2006 12.4

7/18/2005 23.1 7/20/2006 12.7

7/19/2005 19.7 7/21/2006 12.3

7/20/2005 19.9 7/24/2006 16.5

7/21/2005 25.4 7/25/2006 12.9

7/22/2005 27.3 7/26/2006 10.2

7/25/2005 31.4 7/27/2006 13.3

7/26/2005 29.3 7/28/2006 12.6

7/27/2005 26.7 7/31/2006 37.7

7/28/2005 32.0 8/1/2006 14.1

7/29/2005 41.0 8/2/2006 18.7

8/1/2005 27.0 8/3/2006 5.4

8/2/2005 26.6 8/4/2006 6.5

8/3/2005 8.8 8/7/2006 9.7

8/4/2005 11.2 8/8/2006 6.3

8/5/2005 9.6 8/9/2006 3.3

8/8/2005 12.9 8/10/2006 8.5

8/9/2005 9.9 8/11/2006 6.2

8/10/2005 8.2 8/14/2006 10.3

8/11/2005 6.6 8/15/2006 3.9

8/12/2005 5.7 8/16/2006 8.1

8/15/2005 8.6 8/17/2006 15.4

8/16/2005 12.9 8/18/2006 17.4

8/17/2005 12.3 8/21/2006 22.8

8/18/2005 14.4 8/22/2006 19.8

8/19/2005 16.3 8/23/2006 16.5

8/22/2005 20.5 8/24/2006 12.9

8/23/2005 17.8 8/25/2006 10.7

8/24/2005 14.4 8/28/2006 14.7

8/25/2005 13.8 8/29/2006 12.5

8/26/2005 11.1 8/30/2006 13.6
8/29/2005 14.7 8/31/2006 16.4

8/30/2005 10.4 9/1/2006 4.5

8/31/2005 8.6 9/4/2006 4.5

9/1/2005 6.3 9/5/2006 8.7

9/2/2005 7.2 9/6/2006 6.4

9/6/2005 8.1 9/7/2006 7.7

9/7/2005 5.9 9/8/2006 6.1

9/8/2005 10.1 9/11/2006 9.9

9/9/2005 7.1 9/12/2006 9.3

9/12/2005 10.7 9/13/2006 8.2

9/13/2005 11.2 9/14/2006 6.8

9/14/2005 7.8 9/15/2006 41.3

9/15/2005 40.6 9/18/2006 56.4

9/16/2005 49.2 9/19/2006 70.3

9/19/2005 55.9 9/20/2006 75.8

9/20/2005 70.6 9/21/2006 63.5

9/21/2005 72.9 9/22/2006 65.4

9/22/2005 60.1 9/25/2006 71.6

9/23/2005 60.9 9/26/2006 71.1

9/26/2005 63.6 9/27/2006 69.7

9/27/2005 60.5 9/28/2006 52.6

9/28/2005 57.5 9/29/2006 52.1

9/29/2005 50.3

9/30/2005 35.7
$ billions

Bills 2-under 5 years 5-10 years over 10 years Buybacks 5-10 years 20-30 years Totals

Calendar Year Quarters

2001 1Q 65.2 -29.2 -25.5 9.4 -8.0 6.0 0.0 17.8

2Q -92.0 -34.1 -26.4 -1.8 -9.3 0.0 0.0 -163.5

3Q 114.8 -10.3 -31.1 3.8 -7.8 5.0 0.0 74.5

4Q 76.4 65.7 -84.7 -1.8 -8.5 0.0 5.0 52.1

2002 1Q 23.2 26.6 2.7 -6.0 0.0 6.0 0.0 52.5

2Q -11.9 49.3 -18.3 0.0 -4.0 0.0 0.0 15.1

3Q 45.8 76.9 -29.6 0.0 0.0 -8.9 0.0 84.2

4Q 20.5 68.6 -9.3 -4.2 0.0 7.0 0.0 82.6

2003 1Q 66.3 59.6 -17.5 -3.0 0.0 6.0 0.0 111.3

2Q -27.3 78.1 12.8 -3.2 0.0 0.0 0.0 60.3

3Q -9.6 62.7 23.0 -5.6 0.0 11.0 0.0 81.5

4Q 10.6 44.1 62.2 -12.5 0.0 9.0 0.0 113.4

2004 1Q 56.2 30.9 46.7 0.0 0.0 12.0 0.0 145.9

2Q -38.2 25.8 43.0 -8.4 0.0 9.0 0.0 31.3

3Q 14.7 16.7 40.6 -4.0 0.0 10.0 11.0 89.0

4Q 41.7 20.4 27.2 -12.5 0.0 21.0 0.0 97.8

2005 1Q 55.9 12.5 57.0 -2.3 0.0 10.0 11.0 144.2

2Q -135.7 17.5 28.9 -7.2 0.0 18.0 0.0 -78.5

3Q -9.2 7.3 48.4 -9.3 0.0 9.0 6.0 52.3

4Q 49.6 10.1 21.9 -4.1 0.0 15.0 0.0 92.5

2006 1Q 78.2 -5.4 54.3 10.1 0.0 9.0 11.8 158.0

2Q -125.3 -14.0 31.6 -3.5 0.0 19.0 0.0 -92.1

3Q -5.2 -14.4 34.1 11.6 0.0 10.6 8.2 45.0

4Q 32.7 -21.5 16.2 -4.0 0.0 18.6 0.0 41.9

Totals may not add due to rounding.

Nominals TIPS

Treasury Quarterly Net Marketable Borrowing 
Treasury Quarterly Net Borrowing From NonMarketable Issues 

Calendar Year $ billions

Quarter Savings Bonds Foreign Series State and Local Govt. Series Total Calendar Year

I 00 -3.3 -0.9 -3.8 -8.0 2000

II -2.7 -0.6 -1.7 -5.0

III -2.4 -0.4 -7.3 -10.1

IV -1.7 1.7 -2.3 -2.2

I 01 -2.2 -1.1 1.9 -1.4 2001

II -1.4 -0.7 0.4 -1.7

III -1.4 -2.4 -6.8 -10.6

IV 1.9 -1.0 -0.1 0.8

I 02 -0.4 0.2 -5.2 -5.5 2002

II -1.1 -0.7 1.7 -0.1

III -1.4 -0.8 1.5 -0.7

IV -0.2 -1.3 9.1 7.6

I 03 0.1 -1.5 -1.0 -2.4 2003

II 0.5 -0.6 -8.3 -8.4

III 0.4 -0.7 7.9 7.6

IV 0.5 -0.5 0.8 0.8

I 04 -1.2 -0.8 6.5 4.5 2004

II -1.5 -0.3 5.8 3.9

III -2.1 -0.6 -3.3 -6.0

IV -1.4 0.0 2.5 1.1

I 05 -1.9 0.2 18.3 16.6 2005

II -1.7 -1.6 27.7 24.4

III -2.3 0.1 18.5 16.3

IV -0.2 0.7 10.3 10.7

I 06 -1.1 -0.4 -0.7 -2.2 2006

II -2.7 -0.4 7.2 4.1

III -3.6 0.0 -3.2 -6.8

IV -3.1 0.0 18.8 15.7
Percentage Breakdown of Quarterly Issuance

ISSUE 

Bills 2-3 yrs 4-7 yrs 10-15 yrs Bonds TIPS

12/31/80 61.2% 20.5% 10.8% 4.6% 2.8% 0.0%

3/31/81 61.6% 20.0% 10.7% 4.7% 3.0% 0.0%

6/30/81 61.2% 19.6% 11.7% 4.1% 3.4% 0.0%

9/30/81 61.0% 19.2% 12.6% 3.3% 3.9% 0.0%

12/31/81 62.7% 19.3% 11.3% 2.7% 4.0% 0.0%

3/31/82 61.3% 21.4% 10.5% 2.6% 4.1% 0.0%

6/30/82 61.2% 22.8% 9.7% 3.3% 3.0% 0.0%

9/30/82 61.0% 21.6% 11.5% 3.5% 2.4% 0.0%

12/31/82 61.3% 22.1% 11.0% 3.6% 2.1% 0.0%

3/31/83 60.0% 22.4% 11.4% 3.8% 2.4% 0.0%

6/30/83 58.0% 22.5% 12.4% 3.6% 3.5% 0.0%

9/30/83 58.1% 23.0% 10.8% 3.6% 4.4% 0.0%

12/31/83 56.4% 23.0% 11.7% 3.8% 5.1% 0.0%

3/31/84 56.4% 22.9% 11.5% 3.9% 5.3% 0.0%

6/30/84 54.8% 23.6% 11.9% 4.1% 5.6% 0.0%

9/30/84 56.4% 23.3% 10.7% 3.9% 5.6% 0.0%

12/31/84 56.2% 22.6% 11.7% 3.8% 5.6% 0.0%

3/31/85 56.4% 22.4% 11.6% 3.8% 5.7% 0.0%

6/30/85 55.6% 22.7% 11.9% 3.9% 5.9% 0.0%

9/30/85 54.9% 22.9% 11.9% 4.1% 6.1% 0.0%

12/31/85 55.1% 22.8% 11.8% 4.1% 6.2% 0.0%

3/31/86 54.4% 22.9% 12.0% 4.3% 6.4% 0.0%

6/30/86 54.3% 23.1% 12.0% 4.6% 6.1% 0.0%

9/30/86 54.0% 23.0% 12.7% 4.7% 5.6% 0.0%

12/31/86 54.6% 23.3% 11.9% 5.0% 5.2% 0.0%

3/31/87 53.0% 24.5% 12.3% 5.3% 4.9% 0.0%

6/30/87 51.8% 25.2% 12.7% 5.4% 5.0% 0.0%

9/30/87 53.5% 24.7% 11.7% 5.2% 4.9% 0.0%

12/31/87 54.4% 24.0% 12.3% 5.1% 4.2% 0.0%

3/31/88 53.8% 24.2% 12.7% 5.1% 4.3% 0.0%

6/30/88 52.8% 24.8% 12.8% 5.2% 4.4% 0.0%

9/30/88 53.9% 24.3% 13.4% 5.3% 3.0% 0.0%

12/31/88 54.7% 24.1% 12.3% 5.3% 3.6% 0.0%

3/31/89 54.6% 24.0% 12.4% 5.3% 3.6% 0.0%

6/30/89 53.5% 24.4% 12.8% 5.5% 3.8% 0.0%

9/30/89 52.3% 24.3% 13.0% 5.3% 5.1% 0.0%

12/31/89 53.0% 24.1% 12.6% 5.2% 5.0% 0.0%

3/31/90 53.3% 24.1% 12.4% 5.2% 5.0% 0.0%

6/30/90 53.8% 24.0% 12.2% 5.1% 4.9% 0.0%

9/30/90 54.9% 23.8% 11.7% 4.9% 4.7% 0.0%

12/31/90 57.1% 22.8% 11.1% 4.6% 4.4% 0.0%

3/31/91 56.3% 23.4% 11.3% 4.6% 4.4% 0.0%

6/30/91 53.8% 24.4% 12.4% 4.8% 4.6% 0.0%

9/30/91 54.6% 23.3% 12.9% 4.7% 4.5% 0.0%

12/31/91 54.3% 23.1% 13.5% 4.6% 4.5% 0.0%

3/31/92 53.7% 23.2% 14.3% 4.5% 4.3% 0.0%

6/30/92 54.5% 22.9% 14.4% 4.3% 4.0% 0.0%

9/30/92 54.6% 23.1% 14.5% 4.1% 3.7% 0.0%

12/31/92 55.3% 22.7% 14.6% 3.9% 3.5% 0.0%

3/31/93 53.8% 23.3% 15.4% 4.0% 3.5% 0.0%
ISSUE 

Bills 2-3 yrs 4-7 yrs 10-15 yrs Bonds TIPS

6/30/93 53.4% 23.6% 15.7% 4.0% 3.3% 0.0%

9/30/93 55.3% 23.0% 14.4% 3.9% 3.3% 0.0%

12/31/93 56.7% 23.3% 13.5% 4.1% 2.4% 0.0%

3/31/94 56.5% 24.0% 12.8% 4.2% 2.5% 0.0%

6/30/94 57.1% 24.6% 12.0% 4.4% 1.8% 0.0%

9/30/94 56.3% 25.2% 12.1% 4.5% 1.8% 0.0%

12/31/94 57.5% 24.6% 11.7% 4.3% 1.8% 0.0%

3/31/95 57.9% 24.4% 11.6% 4.3% 1.8% 0.0%

6/30/95 57.9% 24.3% 11.6% 4.4% 1.8% 0.0%

9/30/95 57.6% 24.5% 11.5% 4.5% 1.9% 0.0%

12/31/95 58.0% 24.1% 11.5% 4.5% 1.9% 0.0%

3/31/96 58.4% 23.7% 11.4% 4.6% 1.9% 0.0%

6/30/96 57.7% 24.2% 11.6% 4.6% 1.9% 0.0%

9/30/96 56.5% 24.6% 12.0% 5.2% 1.8% 0.0%

12/31/96 55.7% 24.4% 12.0% 5.5% 2.5% 0.0%

3/31/97 55.0% 24.6% 12.2% 5.4% 2.4% 0.5%

6/30/97 53.3% 24.9% 12.7% 5.5% 2.5% 1.2%

9/30/97 54.2% 24.0% 12.6% 4.8% 2.5% 1.9%

12/31/97 55.0% 23.3% 12.4% 4.2% 2.6% 2.6%

3/31/98 54.8% 22.8% 12.6% 4.3% 2.7% 2.7%

6/30/98 54.4% 22.4% 13.0% 4.6% 2.8% 2.9%

9/30/98 55.6% 22.0% 11.8% 4.7% 3.0% 2.9%

12/31/98 58.7% 20.9% 10.1% 4.6% 2.9% 2.9%

3/31/99 58.6% 21.8% 8.7% 4.8% 3.1% 3.1%

6/30/99 59.5% 22.3% 7.0% 4.9% 3.2% 3.1%

9/30/99 60.9% 21.7% 6.6% 4.9% 3.0% 2.9%

12/31/99 62.6% 21.2% 6.6% 4.8% 2.0% 2.8%

3/31/00 62.6% 21.2% 6.5% 5.1% 2.1% 2.6%

6/30/00 62.7% 21.4% 6.6% 5.0% 2.2% 2.1%

9/30/00 64.0% 20.9% 6.4% 5.0% 1.8% 1.9%

12/31/00 66.4% 19.5% 6.0% 4.7% 1.7% 1.7%

3/31/01 67.0% 18.9% 5.9% 4.7% 1.7% 1.7%

6/30/01 66.5% 18.9% 6.2% 4.9% 1.8% 1.7%

9/30/01 69.5% 17.8% 5.3% 4.3% 1.6% 1.5%

12/31/01 68.9% 19.1% 5.0% 4.3% 1.4% 1.4%

3/31/02 67.0% 22.1% 5.1% 4.1% 0.4% 1.3%

6/30/02 63.2% 25.7% 5.5% 4.0% 0.4% 1.2%

9/30/02 61.5% 26.8% 6.0% 4.2% 0% 1.5%

12/31/02 60.9% 27.1% 6.1% 4.3% 0% 1.6%

3/31/03 61.5% 26.1% 6.5% 4.4% 0% 1.5%

6/30/03 59.4% 27.2% 7.0% 4.8% 0% 1.5%

9/30/03 57.6% 27.7% 7.6% 5.6% 0% 1.5%

12/31/03 55.5% 28.0% 8.9% 6.1% 0% 1.6%

3/31/04 55.1% 27.4% 9.5% 6.2% 0% 1.8%

6/30/04 52.9% 27.8% 10.4% 6.7% 0% 2.3%

9/30/04 54.1% 26.7% 10.5% 6.0% 0% 2.7%

12/31/04 54.5% 26.1% 10.4% 5.6% 0% 3.4%

3/31/05 55.6% 25.2% 10.1% 5.3% 0% 3.8%

6/30/05 52.4% 26.6% 10.8% 5.6% 0% 4.6%

9/30/2005 52.9% 26.3% 10.8% 5.7% 0.0% 4.4%

12/31/2005 56.4% 23.7% 10.4% 5.5% 0.0% 4.0%

3/31/06 57.4% 23.0% 9.8% 5.1% 0.8% 3.8%

6/30/06 54.4% 24.3% 10.9% 5.4% 0.9% 4.1%

9/30/2006 54.7% 23.2% 10.6% 5.5% 1.6% 3.2%

12/31/2006 54.5% 23.6% 10.7% 5.3% 1.5% 3.3%
THE AVERAGE MATURITY OF TOTAL OUTSTANDING MARKETABLE DEBT AND 

A 1-YEAR MOVING AVERAGE OF THE AVERAGE MATURITY OF ISSUANCE

Avg Mat Iss Average Maturity 

1-Yr Moving Average Total Outstanding

(months) (months)

12/31/80 74 48

3/31/81 73 48

6/30/81 74 50

9/30/81 76 51

12/31/81 77 50

3/31/82 77 50

6/30/82 64 50

9/30/82 57 49

12/31/82 55 47

3/31/83 56 47

6/30/83 69 48

9/30/83 78 50

12/31/83 83 51

3/31/84 84 52

6/30/84 86 53

9/30/84 86 54

12/31/84 86 55

3/31/85 87 56

6/30/85 88 57

9/30/85 89 58

12/31/85 90 59

3/31/86 89 60

6/30/86 90 61

9/30/86 89 62

12/31/86 89 62

3/31/87 88 64

6/30/87 88 65

9/30/87 88 66

12/31/87 83 66

3/31/88 82 66

6/30/88 82 67

9/30/88 67 66

12/31/88 74 67

3/31/89 73 67

6/30/89 74 68

9/30/89 90 69

12/31/89 89 69

3/31/90 90 69

6/30/90 89 69

9/30/90 87 69

12/31/90 86 68

3/31/91 85 68

6/30/91 85 69

9/30/91 84 68

12/31/91 85 68

3/31/92 82 67

6/30/92 80 68

9/30/92 77 67

12/31/92 75 67

3/31/93 74 67

6/30/93 73 67

9/30/93 73 67

12/31/93 61 65

3/31/94 62 65

6/30/94 51 64

9/30/94 51 64

12/31/94 51 63

3/31/95 51 62

6/30/95 51 61

9/30/95 52 62

12/31/95 52 60

3/31/96 52 60

6/30/96 52 60

9/30/96 50 61

12/31/96 62 61

3/31/97 60 61

6/30/97 61 62

9/30/97 62 62

12/31/97 63 63

3/31/98 65 63

6/30/98 75 65

9/30/98 84 67

12/31/98 85 65

3/31/99 87 65

6/30/99 88 67

9/30/99 81 68

12/31/99 78 67

3/31/00 79 67

6/30/00 67 69

9/30/00 64 70

12/31/00 62 69

3/31/01 62 69

6/30/01 62 71

9/30/01 60 68

12/31/01 58 66

3/31/02 42 65

6/30/02 41 64

9/30/02 32 62

12/31/02 25 60

3/31/03 26 59

6/30/03 27 58

9/30/03 27 57

12/31/03 28 56

3/31/04 29 55

6/30/04 31 55

9/30/04 34 55

12/31/04 33 54

3/31/05 37 53

6/30/05 37 55

9/30/05 36 54

12/31/05 36 53

3/31/06 44 53

6/30/06 44 54

9/30/06 54 55

12/31/06 54 54

9/30/07 54 55 Projected

9/30/08 64 55

9/30/09 62 56

9/30/10 61 57

9/30/11 60 57
Distribution of Marketable Debt Outstanding

OS DBT Bills 2-3 yrs 4-7 yrs 10-15 yrs Bonds TIPS

09/30/80 32.7% 20.3% 25.7% 7.6% 13.7% 0.0%

09/30/81 32.4% 20.7% 26.3% 6.6% 14.0% 0.0%

09/30/82 33.5% 21.3% 24.3% 8.4% 12.5% 0.0%

09/30/83 33.1% 23.6% 22.2% 8.9% 12.2% 0.0%

09/30/84 30.2% 25.5% 21.2% 9.8% 13.4% 0.0%

09/30/85 28.1% 24.6% 22.1% 10.6% 14.6% 0.0%

09/30/86 26.2% 23.4% 24.4% 10.6% 15.4% 0.0%

09/30/87 22.6% 23.9% 25.1% 11.9% 16.6% 0.0%

09/30/88 22.3% 22.2% 25.7% 13.0% 16.8% 0.0%

09/30/89 21.6% 20.7% 25.6% 14.2% 18.0% 0.0%

09/30/90 23.1% 20.1% 24.2% 14.4% 18.2% 0.0%

09/30/91 23.8% 20.9% 23.3% 14.2% 17.8% 0.0%

09/30/92 23.8% 21.2% 23.8% 13.8% 17.3% 0.0%

09/30/93 22.8% 21.5% 24.8% 13.7% 17.2% 0.0%

09/30/94 22.7% 21.7% 25.1% 13.9% 16.6% 0.0%

09/30/95 22.7% 21.5% 25.9% 13.9% 16.0% 0.0%

09/30/96 22.4% 21.5% 25.8% 14.4% 16.0% 0.0%

09/30/97 20.5% 21.4% 25.7% 15.0% 16.8% 0.7%

09/30/98 19.2% 19.7% 25.1% 15.9% 18.4% 1.8%

09/30/99 20.3% 17.9% 22.2% 16.8% 20.0% 2.9%

09/30/00 20.6% 16.2% 19.9% 18.2% 21.2% 3.8%

09/30/01 25.2% 13.3% 16.8% 19.1% 21.0% 4.6%

09/30/02 27.8% 18.2% 13.2% 17.4% 19.0% 4.4%

09/30/03 26.5% 23.7% 11.5% 16.8% 16.7% 4.8%

09/30/04 25.0% 24.4% 13.6% 16.9% 14.4% 5.8%

09/30/05 22.6% 23.9% 15.9% 17.1% 12.8% 7.5%

09/30/06 21.4% 21.5% 18.6% 16.7% 12.6% 9.3%

09/30/07 21.6% 20.7% 19.0% 16.3% 12.2% 10.1%

09/30/08 20.7% 20.1% 19.4% 16.8% 12.0% 11.0%

09/30/09 20.6% 20.0% 18.1% 17.0% 12.0% 12.1%

09/30/10 20.0% 20.0% 17.3% 17.7% 12.2% 12.8%

09/30/11 19.5% 19.4% 17.0% 18.1% 12.5% 13.5%

Projected are hypothetical
Percentage of Debt maturing in 12-36 months

MATURE 

in 12mos in 24mos in 36mos

12/31/80 47.7% 63.0% 70.3%

3/31/81 48.2% 63.5% 70.5%

6/30/81 47.1% 62.1% 69.7%

9/30/81 46.7% 62.0% 70.4%

12/31/81 47.2% 62.2% 70.8%

3/31/82 47.4% 62.1% 70.7%

6/30/82 46.5% 62.1% 70.8%

9/30/82 46.4% 61.5% 69.5%

12/31/82 47.6% 63.1% 70.4%

3/31/83 47.2% 62.8% 69.8%

6/30/83 46.3% 62.4% 69.4%

9/30/83 45.5% 61.9% 69.1%

12/31/83 45.7% 61.0% 68.8%

3/31/84 45.3% 60.2% 68.6%

6/30/84 44.4% 59.5% 67.6%

9/30/84 44.6% 59.7% 66.9%

12/31/84 43.6% 59.5% 66.4%

3/31/85 43.5% 59.2% 65.8%

6/30/85 42.8% 58.2% 65.4%

9/30/85 42.0% 57.3% 64.9%

12/31/85 42.0% 56.8% 64.5%

3/31/86 41.4% 55.7% 63.5%

6/30/86 40.7% 55.5% 63.1%

9/30/86 39.9% 55.1% 62.7%

12/31/86 39.7% 55.0% 62.7%

3/31/87 38.0% 53.5% 61.7%

6/30/87 37.3% 52.7% 60.9%

9/30/87 36.9% 52.3% 60.8%

12/31/87 37.1% 52.3% 60.8%

3/31/88 37.0% 52.2% 60.4%

6/30/88 36.2% 51.4% 59.7%

9/30/88 36.5% 51.7% 59.9%

12/31/88 37.3% 51.9% 59.9%

3/31/89 36.8% 51.5% 59.6%

6/30/89 35.6% 50.6% 59.1%

9/30/89 36.1% 50.4% 58.9%

12/31/89 36.6% 50.5% 59.0%

3/31/90 36.7% 50.6% 59.3%

6/30/90 36.4% 50.7% 59.1%

9/30/90 36.7% 51.1% 59.6%

12/31/90 37.1% 51.8% 60.5%

3/31/91 37.1% 51.6% 60.0%

6/30/91 36.5% 50.8% 59.5%

9/30/91 36.9% 51.5% 59.8%

12/31/91 37.1% 52.0% 59.9%

3/31/92 37.5% 52.1% 59.7%

6/30/92 36.9% 51.7% 59.0%

9/30/92 36.9% 51.7% 58.6%

12/31/92 37.4% 51.7% 58.2%

3/31/93 36.9% 51.0% 58.4%
6/30/93 36.7% 50.4% 58.8%

9/30/93 36.4% 49.9% 58.7%

12/31/93 37.2% 50.3% 60.6%

3/31/94 36.8% 50.9% 60.6%

6/30/94 35.9% 51.1% 60.6%

9/30/94 35.4% 51.0% 60.9%

12/31/94 36.2% 52.2% 61.2%

3/31/95 36.8% 52.5% 62.4%

6/30/95 37.4% 52.9% 62.7%

9/30/95 37.7% 53.5% 63.6%

12/31/95 38.8% 53.7% 63.7%

3/31/96 39.2% 54.2% 63.6%

6/30/96 38.2% 53.7% 63.4%

9/30/96 37.4% 53.7% 63.1%

12/31/96 37.3% 53.7% 63.0%

3/31/97 37.7% 53.9% 63.1%

6/30/97 36.4% 52.9% 62.3%

9/30/97 36.7% 52.7% 61.7%

12/31/97 37.2% 52.8% 61.4%

3/31/98 37.3% 52.7% 60.9%

6/30/98 35.9% 51.6% 59.5%

9/30/98 35.8% 51.4% 59.2%

12/31/98 36.8% 52.1% 61.1%

3/31/99 37.6% 52.8% 61.1%

6/30/99 36.3% 51.9% 60.1%

9/30/99 36.4% 51.9% 60.8%

12/31/99 38.2% 53.5% 60.7%

3/31/00 38.9% 53.3% 61.2%

6/30/00 37.2% 51.6% 59.6%

9/30/00 37.4% 52.6% 59.8%

12/31/00 38.8% 52.7% 59.0%

3/31/01 39.4% 53.4% 58.4%

6/30/01 37.3% 51.7% 56.8%

9/30/01 40.6% 54.0% 58.4%

12/31/01 41.2% 55.0% 60.4%

3/31/02 41.6% 55.7% 60.4%

6/30/02 40.5% 56.2% 61.2%

9/30/02 40.3% 56.6% 61.1%

12/31/02 40.9% 58.4% 62.7%

3/31/03 41.9% 58.7% 63.0%

6/30/03 42.0% 58.7% 63.4%

9/30/03 41.5% 57.2% 62.6%

12/31/03 41.8% 56.6% 63.0%

3/31/04 41.5% 55.7% 62.9%

6/30/04 40.2% 54.9% 61.9%

9/30/04 39.1% 54.2% 61.6%

12/31/04 38.9% 54.4% 61.0%

3/31/05 38.9% 54.6% 61.6%

6/30/05 36.7% 52.4% 60.1%

9/30/2005 36.7% 52.4% 59.9%

12/31/2005 38.2% 52.0% 60.2%

3/31/06 39.0% 52.6% 61.1%

6/30/06 36.5% 50.7% 59.6%

9/30/06 36.2% 50.4% 59.7%

12/31/2006 35.8% 50.9% 59.4%

9/30/2007 35.9% 51.0% 59.4%

9/30/2008 35.7% 50.5% 58.7%

9/30/2009 34.9% 49.7% 57.5%

9/30/2010 34.4% 48.5% 56.8%

9/30/2011 33.2% 47.6% 56.5%

Projected are hypothetical
$ billions Total 

Bills

2-under 

5 years 5-10 years

Over 10 

years Buybacks Total 5-10yr 20-30yr Total

Bills & 

Coupons

FY 1998 -64.3 -60.1 -52.9 34.3 0.0 -78.8 16.8 16.8 33.6 -109.4

1999 15.4 -77.0 -103.3 33.3 0.0 -147.1 24.3 7.4 31.7 -100.0

2000 -37.1 -85.3 -100.9 12.8 -21.3 -194.6 11.3 7.4 18.7 -213.0

2001 118.7 -104.6 -105.2 11.4 -33.8 -232.0 11.0 5.0 16.0 -97.3

2002 133.4 218.5 -129.8 -7.7 -12.5 68.4 -2.9 5.0 2.1 203.9

2003 50.0 269.0 8.9 -16.1 0.0 261.8 24.0 0.0 24.0 335.7

2004 43.3 117.6 192.5 -24.9 0.0 285.2 40.0 11.0 51.0 379.5

2005 -47.3 57.7 161.6 -31.3 0.0 187.9 58.0 17.0 75.0 215.6

2006 -2.7 -23.6 142.0 14.0 0.0 132.4 53.6 20.0 73.6 203.2

2007 66 -37 123 18 105 36 18 54 225

2008 6 17 116 15 147 35 18 53 206

2009 33 35 19 25 79 45 19 63 175

2010 1 30 48 27 106 17 18 35 142

2011 4 3 65 32 101 24 18 42 146

2007-2011 projected are hypothetical amounts

Totals may not add due to rounding.

Nominal Coupons TIPS

Treasury Annual Net Marketable Borrowing
FY 07 Deficit Estimates $ billions

Primary Dealers* CBO OMB

Current: 227 172 339

Range based on average absolute forecast error 135-319 64-280 237-441

Estimates as of: Jan 07 Jan 07 July 06

Note: Ranges based on errors from 2002-2006.

* Primary Dealers reflect average estimate.
Financing Residuals Given Current Issuance Pattern

$ billions, Fiscal Year

Budget estimates 2007 2008 2009 2010 2011

line Plus average absolute error in OMB estimate 325 360 386 382 402

OMB FY2007 MSR--- Net Financing 227 207 176 142 147

Minus average absolute error in OMB estimate 129 54 -35 -99 -108

Note: (+) Deficit, (-) Surplus

Estimated financing changes from current pattern

bar Plus average absolute error in OMB estimate 145 188 284 269 274

OMB FY2007 MSR--- Net Financing residual 47 35 74 29 19

Minus average absolute error in OMB estimate -51 -118 -136 -211 -236

note: (-) implies less financing required

 (+) implies more financing required 

Assumes current coupon issuance pattern and issuance amount--Weekly bill issuance at levels required to maintain outstanding

FY $ amounts nearly equal to December 31, 2006 total outstanding.

FY 2007 net financing is an internal Treasury estimate.

Average historical differences between estimates and actual deficit or surplus are from OMB's 2007 Budget Table 20-7.