$Bil.

70

60

50

40

30

20

10

0

TREASURY FINANCING REQUIREMENTS

October - December 1981

USES

Coupon Maturities 11

Savings Bonds

and Other Vfe

Office of the Secretary of the Treasury

Office of Government Financing

y=*y2Govri

1 Series ^Foreign

Public Series J Nonmarketables

4 Cash Deficit

64 %

SOURCES

4 Coupon Refunding

Net Market .

Borrowing •

Decrease in Cash Balancet^E

$Bil.

70

60

50

40

30

20

10

January 26, 198208
$Bil.

60

50

40

30

20-

10

0

Office of the Secretary of the Treasury

Office of Government Financing

TREASURY FINANCING REQUIREMENTS

January - March 1982

Uses

Coupon

Maturities ||

Savings Bonds

1

....SK^S^MTstate and

1J4 Local

Foreign

Nonmarketables

Cash

Deficit

61 y2

Sources

Coupon

Refunding

Net Market

Borrowing

41 %<

Done

12V4

Decrease in

Cash Balance-^

17 Assumes $10 billion cash balance March 31, 1982.

$Bil.

60

50

40

30

20

10

0

January 26, 1982-17
TREASURY OPERATING CASH BALANCE

Semi-Monthly $Bil.

20

15

10

5

0

-5

-10

-151-

Without

"*— New —*".

5 Borrowing"

Tax and Loan 11 A • •

• •

Accounts II . TotaJ Wk A

Balance« j| Operating £\ A

• •

• •

—

\

ill J!\ Balance|f7\/ ^

1111 / \ A. t ^ \

^

*>3$&A ^*^\ ^^Up\ e

/ -

&'"*"*< V

Federal Reserve Account \

:

1 1 1 l 1 l l 1 l l l

•

l 1 -20

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

1981 1982

Office of the Secretary of the Treasury

Office of Government Financing

-^Assumes refunding of maturing issues.

January 26,1982-15
TREASURY NET MARKET BORROWING^

Calendar Year Quarters

1978

Office of the Secretary of the Treasury

Office of Government Financing

III

1979 1980 1981

1/ Excludes Federal Reserve and Government Account Transactions.

January 26, 1982-12
TREASURY NET BORROWING FROM NONMARKETABLE ISSUES

r:Z.J Savings Bonds

^53 State & Local Series

•i Foreign Nonmarketables

2.2

Bfffffa H ^

-1.7-1.4

-.9 m -•» I

-1.4

$Bil.

10

-8

6

4

2

0

-2

-4

-6

-8

-2.4 "2.2

-2.8

I II III IV I

1978

Officeof the Secretary of the Treasury

Officeof Government Financing

-4.2

-6.6

_L

II III IV I II III IV

1979 1980

e estimate

-4.0

_L

II III IV le

1981 1982

January 26, 1982-11
QUARTERLY CHANGES IN FOREIGN AND INTERNATIONAL

HOLDINGS OF PUBLIC DEBT SECURITIES

$Bil., i$Bil.

16.9

1.4

-4

-8

-12

-16

-4.9

II III

1978

Office of the Secretary of the Treasury

Office of Government Financing

Nonmarketable

Marketable

^ Add-ons-*/

IH Other Transactions

20

16

12

8

4

0

-4

-8

-12

-16

-13.3

I

M 8.6

IV I II III IV I II III IV I II III IV-i/

1979 1980 1981

1/ F.R.B. Purchases of marketable issues as agents for foreign

and international monetary authorities for new cash.

•=»Partly estimated. January 26, 198210
CUMULATIVE NET CASH FLOW IN SAVINGS BONDS*/

Office of the Secretary of the Treasury

Office of Government Financing

M M J J

Month of year

1/ Cash sales less redemptions

e January 1982 partly estimated January 26, 1982-5
SHORT TERM INTEREST RATES

Monthly Averages

%

22

20-

18

16

14

12

10

8

6

CommerciaL-H I

Paper

••••••••

1978

Office of the Secretary of the Treasury

Office of Government Financing

111

3 Month

Treasury Bill

I I I I I I I I I I I

1979

I I I I I I I I I I I I I I I

1980 1981

'"'it

Through

January 22

1982

%

22

20

18

16

14

12

10

8

January 26, 1982-6
%

Officeof the Secretary of the Treasury

Office of Government Financing

SHORT TERM INTEREST RATES

Weekly Averages

Prime Rate

Through

week ending

January 20

%

20

January 26, 1982-7
%

19

17

15

13

11

LONG MARKET RATES

Monthly Averages

New Conventional

Mortgages

A

/'A

Treasury 20-Year A,

iTm I I I I I I I I II I I I

.«•••••

I 20-Year

Municipal Bonds

I I I I I I I I I I I I I I I I I I

A

New Aa J /V~

Corporates ' / \ >

Through

January 22

%

19

17

15

13

-11

I I I I I I I I I I I 11

1978

Office of the Secretary of the Treasury

Office of Government Financing

1979 1980 1981 1982

January 26, 1982-8
%

INTERMEDIATE AND LONG MARKET RATES

Weekly Averages

%

Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec Jan

1981 1982

Office of the Secretary of the Treasury

Office of Government Financing January 26, 1982-9
17-

16

15

13

MARKET YIELDS ON GOVERNMENTS

Bid Yields

V May 13, 1981

NT

14

13

I I I I I I I

14

13

10 12 14 16 18 20 22 24 26 28 30

October 26, 1981

.....••••••^ss: i ~~•••

January 25, 1982

4 5 6

Years to Maturity

8

^0„%

18

17

16

15

14

13

10

Officeof the Secretary of the Treasury

Office of Government Financing January 26, 1982-16
NONCOMPETITIVE TENDERS AND AVERAGE AUCTION YIELDS

% $Bil.

17

16

15

14

13

12

11

Noncompetitive Tenders

(right scale)

•J2 Year Notes

J3-3V4 Year Notes

Average Auction Yields

(left scale)

Jan Feb Mar Apr May

Office of the Secretary of the Treasury

Office of Government Financing

"Jun Jul

1981

Aug Sep Oct Nov Dec Jan

1982

1.8

1.6

-1.4

1.2

1.0

.8

.6

.4

.2

0

January 26, 1982-20
PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT

BY MATURITY

$Bil.

600

500

400

300

200

100

0

COUPONS

Over 10 years

3 2-10 years

^1-2 years

§1 year & under

TS—JHBILLS

1971 1972 1973 1974

Office of the Secretary of the Treasury

Office of Government Financing

1975 1976 1977

As of December 31

580.7

1978 1979 1980 1981

January 26,1982-1
AVERAGE LENGTH OF THE MARKETABLE DEBT

Privately Held

June 1947

10 Years

5 Months

Months

December 1981

48 Months

1945 47 49 51 53 55 57 59 61 63 65 67

Officeof the Secretary of the Treasury

Officeof Government Financing January 26, 1982-4
USE OF AUTHORITY TO ISSUE TREASURY BONDS

WITH INTEREST RATE OVER AVa PERCENT

1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981-^

Office of the Secretary of the Treasury

Office of Government Financing

As of December 31

J/lssued or announced through December 31, 1981

January 26, 1982-21
OWNERSHIP OF MATURING COUPON ISSUES

February 1982 - June 19821/

(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 2/

Investors

Intermediateterm 5/

Investors

6 1/8% Nt. 2/15/82

6 3/8% Bd. 2/15/82

13 7/8% Nt. 2/28/82

7 7/8% Nt. 3/31/82

15% Nt. 3/31/82

11 3/8% Nt. 4/30/82

7% Nt. 5/15/82

8% Nt. 5/15/82

9 1/4% Nt. 5/15/82

9 3/8% Nt. 5/31/82

8 1/4% Nt. 6/30/82

8 5/8% Nt. 6/30/82

2630

1689

3907

2605

3432

4043

2552

1296

2515

3852

2472

4501

800

570

1364

1337

1169

1490

946

444

1120

1656

933

1190

130

84

55

9

28

70

56

20

24

15

8

17

547

182

253

217

226

390

372

234

144

362

190

307

157

91

231

186

289

237

226

43

63

234

151

480

600

141

209

185

94

132

379

3

*

106

15

82

218

618

1374

305

1316

1302

127

545

829

719

810

713

178

3

421

366

310

422

446

7

335

760

365

1712

TOTAL 35,494 13,019 516 3,424 2,388 1,946 8,876 5,325

Office of the Secretary of the Treasury

Office of Government Financing

M Amountsfor investorclasses are based on the November 1981 TreasuryOwnership Survey.

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

2/ Includes casualty and liability insurance companies, mutual savings banks, savings and loan

associations, and corporate pension trust funds.

January 26,1982-22
$Bil.

8

4

2

0

8

6

4

2

0

10

8

6

4

2

0

10

8

6

4

2

0

8

6

4

2

0

TREASURY MARKETABLE MATURITIES

Privately Held, Excluding Bills and Exchange Notes

,$Bil

6£ 6_^ 7.0HH 43

123.9 H 4.0B3.9 Q 4j2 H

!1 I III I IS

4.6114,9

7.6 5.2 1983 6.7

j 6.5i

4.3i4.2

PI

7.3

6.0

4-604.8 |H 4.8H4.8

ill Bill

7.3

10

8

6 -

4

2

0

8

6

4

2

0

8

6

4

2

0

6

4

2

0

6-

4-

8.0

I 2.0

0

1987

1988

3.4

1.8

| 2.7 S£ 2.4

1 I

3.3 2.3

- 5.6.

14.5

ll

2.7

3.2

2.4

2

3.4

9.3

I

5.9

1984

2.8

1985

3.1

7.3 |

5.9

k5 1986 !>£

I

3.0

3.7

3.3

3.1 3.2

6.6

I

J FMAMJ JASOND

Office of the Secretary of the Treasury

Office of Government Financing

H Securities issued prior to 1980

ggg New issues calendar year 1980

1989

3.5 2.2

1990

1.1

1991

1.7

1992

2.6

2.4

2.6

I

3.8

1

5.1

2.5

J FMAMJ JASOND

| New issues calendar year 1981

IIssued or announced through January 22, 1982 January 26, 1982-2
$Bil.

4

2

0

4

2

0

4

2

0

2

0

2

0

2

0

2

0

4

2

0

4

2

0

2

0

_ 19

2.9

1.7

2.2

— 1.5

_ 1.8

TREASURY MARKETABLE MATURITIES

Privately Held, Excluding Bills and Exchange Notes

TT^KH 1$BiL 1993 2

.4

2.7

1.7

1994

1995

1996

L.

1997I

1998

1999

2000

2001

2002

2.2

1.4

2.5

I

2.4

1.4

1.4

1.4

0

1.7

2.7

1.8

0

2003

2004i

21 2005

3.9

I

1.9

2006i

2007

2008

2009

2010

3.9 2011

1

2012

1.3

1.2

3.6

I

3.4

I

4.2

2.0

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

H Securities issued prior to 1980

J F M A M J J

New issues calendar year 1981

A S O N D

the Secretary of the Treasury

Government Financing

Office of

Office of ^§ New issues calendar year 1980 | "] Issued or announced through January 22,1982 January26,1982-3
$Bil.

4

0

NET NEW MONEY IN AGENCY FINANCE, QUARTERLY

Privately Held

Bil

FNMA

Ullll 11.1

I II III IV I II III IV

1977 1978

II III IV I II III IV I II III IV

1979 1980 1981

* Less than $50 million.

$Bil

4

3-

2-

!•• IJ.

GNMA |

Mortgage Backed

Securities

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

1977 1978 1979 1980 1981

e Partly estimated.

Officeof the Secretary ot the Treasury

Officeof Government Financing

J/ Includes FHLB discount notes, bonds, and FHLMCdiscount notes, debentures,

certificates, mortgage-backed bonds, and mortgage participation certificates. January 26, 1982-13
AGENCY MATURITIES^

Privately Held

$Bil.

4

2

0

2

0

2

0

1990 1991 1992 1993

"- £a. .8 1.J .8

.2 .2 .1 .3

1994 1995 1996 1997

.1 j_ J_£ 1.1

• ii -i —

1998 1999 2000 2001

J-JL JL J. _j_ j_

2

0

2

0

2

0

2

n

2002 2003 2004 2005

2006

J. JL

2007 2008

2_ _3

2009

.3 .3

2010 2011 2012

.4

2013

.2

- 2014

.2_

2015 2016 2017

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

•U Securities issued through December 31, 1981 January 26, 1982-14