TREASURY FINANCING REQUIREMENTS

January-June 1976 y

$Bil.

60

50

40

30

20

10

Uses

Officeof the Secretary of the Treasury

Office « Debt Analysis

Increase in I

Operating Cash**":!TM-©^1^

D

Gov't Acc't

Investment

Maturities

Cash Deficit

•

Sources

^-Special Issues7

^Savings Bonds, etc

2*4 ^^

^Refundings*

Net New Cash 33

Done

To Be

Done

t Netofexchanges for maturing marketable securities.

* Includes $4V4 billion CMB's and $1.5 billion 1/31/76 bills in 2-year cycle slot

-1/Assumes $12 billionJune 30 cash balance.

April 27,1976-16
SBiL

60

50

40

30

20

10

0

TREASURY FINANCING REQUIREMENTS

January-June 1976

Uses Increase in

Operating Cash** >G6Vr

m

Gov't Acc't

Investment

Maturities

Cash Deficit

i^H

Sources

^Special Issues7

^Savings Bonds, etc

Refundings*

Net New Cash 30y4

t Net ofexchanges for maturing marketable securities of$1 billion.

* Includes $6% billion CMB's and $1.5 billion 1/31/76 bills in 2-year cycle slot

el ttoeerjelan at Ma Treasury J»t»Z7,197*-U
$Bi

30-

20

10-

TREASURY FINANCING REQUIREMENTS

July-September 1976^

Uses T

33!/4

Redemptions

of

Issues*

Special B

Maturities

Gov't Acc't

Sales

Sources

^Decrease in

OperatingCash _ . ^ _, Savings Bonds

r.^HI *-&Other

VA

Refundings

Cash Deficit

Net New

Cash 17V*

* Includes maturing marketable securities ofVA billion.

^Assumes$9billion September 30 cash balance.

Office ol ths Secretin) of HwlreMify Office ot

Jur/27.1976-14
TREASURY FINANCING REQUIREMENTS

July-December 1976^/

Uses

Redemptions of

Special Issuest-

-713/4-

Sources

"-Decrease in Operating Cash

$Bil.

70

60

50-

40

30

20

10

3i/2 *-Savings Bonds &Other

Office o«the Secretary of the Treasury Office of Government Financing

Maturities

Cash Deficit

Gov't Account

Sales

Refundings

Net New Cash 39%

•f Includes maturing marketable securities of $1 billion.

1/Assumes $9 billion December 31 cash balance. July 27.1976-15
$Bil.

70

60

50

40

30

20

10

ol

TREASURY FINANCING REQUIREMENTS

July-December 1975

Uses

Redemption of Special* ^^~«7% ~ Issues t ••" *> iy4 m^ Increase in

•••' Operating

\ Cash

Foreign

Redemptions

^H

*Maturities

Sources

^-Savings Bonds

2i/2 and Other

/"""•

Gov.Acct

Sales

Refundings

Q

Cash Deficit Net New Cash 48V4

t Includes maturingmarketabte securitiesof $¥* billion.

Q»aeallaeleuateu affileTi |

Jla>27,»W42
TREASURY OPERATING CASH BALANCE

Oct Nov. Dec.

1975

Ofaxeofthe

(Mot of

Secretary of the Treasury

Jan. Feb. Mar.

Daily

Apr. May June July Aug. Sept

1976

July 27.1976-1«
SBil.

40

30

20

10

-10L

TREASURY NET NEW MONEY BORROWING

Calendar Year Halves

Coupons:

Hii over 15 yrs.

ii7-15 yrs.

22-7 yrs.

2yn.ft under

IBills

163

Y/S/SJ

485

•

55

-3.1

1974 1 1975 I 1976 2J

OMcaatO "

J/ Excludes Federal Reserve and Government Account transactions.

1/ Issued or announced through July 20,1976.
$Bil.

70

60

50

40

30

20

10

0

oaoaof

Otfcaof

GROSS MARKET BORROWING 1974 - TO DATE

Calendar Year Halves

Coupons:

Over 15 yrs.

7-15 yrs.

2-7 yrs.

2 yrs. and under

Bills

16.1

1974 1975 1976

If Gross public offerings of coupon issuesandcashmanagement bills; net offerings ofregular bills

Excludes Federal Reserve and Government Account transactions

2/ Issued or announced through July 20,1976. JuryZ7.1t7»4
GROSS OFFERINGS OF MARKETABLE SECURITIES

Calendar Year Halves

$BiLr

200

150

100

50

Coupons:

lover 15 yrs.

^7-15 yrs.

^^2-7 yrs.

B3^ 2 yrs. ft under

M Bills 168J

1412

Wfc

1974

a ol the Secretary it the Treewry

aofC

2173

187.7

I II

1975

* Issued or announced through July20,1976.

2325

38.0

I II*

1976
$Bil.

300

250

200

150

100

50

0

PRIVATE HOLDINGS OF TREASURY MARKETABLE

DEBT BY MATURITY

Coupons

| Over 15 yrs.

7-15 yrs.

2-7 yrs.

2 yrs. & under

2764 2755 279.0 2798

Jan. Mar. May Jul.

1975

Sep. Nov. Jan. Mar.

1976

May

of the Secretary of the Treasury

of Government Financing July Z7.197644
CHANGES IN PRIVATE HOLDINGS OF TREASURY

MARKETABLE DEBT BY MATURITY
Years

51/?

5

4V2-

3V2

21/?

AVERAGE LENGTH OF THE MARKETABLE DEBT

Privately Held

, .June 1966

~ / 5 years

4 months

Months

36

June 1976

2 years

6 months

1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976

Ottoe at t*e Smeary et the Trraeery
$Bil.

2000

1500

1000

500

TOTAL LIQUID ASSETS OUTSTANDING IN US.17

June 30

estimated

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976

December 31

-!/Includes money stock (currency and demand deposits); time and savings accounts in commerical banks (including large negotiableCD.'s),

savings and loan associations, mutual savings banks, and credit unions; commercial paper, bankers acceptances, and security repurchase

agreements; and savings bonds and notes, and short-term marketable Treasuries.

Office of the Secretary of the Trereury

Office of Government Fnercine.

July 27.1976-34
MARKETABLE MATURITIES WITHIN 1 YEAR

Privately Held

$Bil.

150

120

90

60

30

0

120

90

60

30

0

120

90

60

30

0

Bills

120.6

71.4

Office of the

Office of

Secretary of the Treasury

Financing

2 year cycle notes All other Total

July 31,1976

154.0

18.3 15.1

July 31,1975

123.4

9.1 15.7

July 31,1974

91.3

3.9 16.1

* Estimated.

July 27.1976-23
MARKETABLE MATURITIES THROUGH SEPTEMBER 30,1977

Privately Held, Excluding Bills &Exchange Notes

Odea of the Secretary of the Traatuy

OfUceolG

JM>27.1*764
OWNERSHIP OF THE MATURING ISSUES

AUGUST 1976 — SEPTEMBER 1977*

(1 n millions of dollars)

Total

Privately

Held

Commercial

Banks

Savings Institutions State &

Local

General

Corpora

tions

Foreign

Other

Maturing Issues Longterm

Intermediateterm .

Private

Holders

Investors^ Investors^' Funds

5%% Nt. Aug. 1976 1,597 715 5 140 140 300 155 142

6%% Nt. Aug. 1976 2,006 1,155 5 115 175 145 35 376

7%% Nt. Aug. 1976 2,546 1,195 10 145 120 35 225 816

8%% Nt. Sept. 1976 1,681 1,005 5 115 130 35 35 356

6%% Nt. Oct. 1976 1,493 690 10 225 300 45 75 T48

6%% Nt. Nov. 1976 4,000 1,615 50 250 400 590 880 215

7%% Nt. Nov. 1976 1,371 890 5 145 60 115 40 116

7%% Nt. Dec. 1976 1,996 1,115 — 190 130 95 200 266

6% Nt. Feb. 1977 1,524 630 15 170 270 155 150 134

8% Nt. Feb. 1977 2,078 945 5 135 170 20 85 718

6%% Nt. Mar. 1977 2,116 1,070 15 225 160 235 325 86

7%% Nt. Apr. 1977 1,507 885 5 180 105 20 75 237

676% Nt. May 1977 2,011 1.170 30 185 160 240 65 161

9% Nt. May 1977 2,353 965 10 55 20 10 35 1,258

&6% Nt. May 1977 2,021 1,050 10 290 340 15 125 191

6%% Nt. June 1977 1,924 1,150 20 210 205 265 25 49

7%% Nt. July 1977 1,463 875 20 230 120 90 80 48

7K% Nt. Aug. 1977 3,252 1.750 55 200 300 200 140 607

8%% Nt. Aug. 1977 1,844 1,180 20 160 60 50 90 284

8%% Nt. Sept. 1977 3,108 1,555 65 320 110 55 170 833

Total 41.891 21,605 360 3.685 3,475 2.715 3,010 7,041

* Btmdonl*%ry 1076M»v«yofa*mai*tip.

I life

27;indudM fin, caauatty, and •ts.. funds*

7;'-

Offindttw Sfjcrataty of the Tmury

ORioi of'GbvwniMnt FiiMiNiiiej July 27.197627
8

MARKET YIELDS ON GOVERNMENTS

(Bid Yields)

July 23,1976 •»»* — J •^_ 1 _ !

1 ^*>^LL—'

_j^^\ ^^^**A~»U9* 1Q7C

y ^^" 1

M J»^^ »

**^l_ _

7

f A

_

|T ^ -^3^^J,,

7 7

10 12 14 16 18 20 22 24 26 28 30

5-

eaf«e

aafQw

12 3 4 5 6

Years to Maturity

7 8 9 10

Je%»7.1
MARKET YIELDS ON SELECTED MATURITIES

20Yr.

8 7 Yr.^

aiaiaiaiaiaiBiaiaiBiB|BiaiBiaiaiaiaiaiBiB

2Yr.

*** *^ 52 Week Bill

,...—.+*

April 23,1976

April

Oeteeoftr»«iLialr,iieffT<aTiiiiiiii

OHkeof3 Month Bill

J L J LL

May

1976

June

Ctosing marketyield of most recent issue each Friday in the respective maturity

♦♦.——•••'

July 23,1976

July

Jea/27. l»7*-»
$Bil.

6

4

2

0

6

4

2

0

6

4

2

0

6

4-

2

I

5j0

2|2.1

II

3J0

TREASURY MARKETABLE MATURITIES

Privately Held, Excluding Bills and Exchange Notes

]$Bil. 1976

|4d0

4.3

II " il 3j0

&0

1977

32

l!

1978

2212.1 m Z2a2A 25 *&

1979

1.7 1.7

18

I

4.6

I

IS 23 1.9

24

4

2

0

4

2

0

2

0

6

4

2

0

4

2

0

1980

" IS TM 15 u

• I • • • &2

1.6

I

6.0

1981

2D

25

1982 13 ia

1983

1.1

1984

IjO

1.1

2.7

I

23

JFMAMJJASOND JFMAMJJASOND

(Meant tra Secretaryof thaTreoury

INew issues calendaryear 1975.

INew Issues calendaryear 1976.
$Bil.

2

0

6

4

2

0

2

0

2

0

2

0

4

2

0

2

0

4

2

0

2

0

2

0

23

I

TREASURY MARKETABLE MATURITIES

Privately Held, Excluding Bills and Exchange Notes

13

46

IjO

1985

1986

1987

1988

1989

1990

1991

1992

20

I

1993

1994

$Bil.

2-

0

2-

0

2-

0

2-

0

2

0

2

0

2

0

2

0

2

0

2

0

2

0

13

IX)

1995

1996

_L_

1997

1998

1999

2000 14

2001

2002

2003

2004

2005

17

J F MA M J J A S 0 N D

BB New issues calendar year 1975).

W New issues calendar year 1976.

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

OUce of lira Secretary of the TreaNry JafrZ7.1S703
AGENCY MATURITIES v

Privately Held

1234 1234 12 34 12 34

ill. 1984 198!^ 1986 1987

1

0

1J0

- 1988

4 |l

1989

•£' •i 4

1990 1991

1

0

-a

• ••JL 2 .i 3

1992 1993 1994 1995

1

0

iai. *_ 3

ai .i .i .i .i

\ 1996 1997 1998 1999

1

0 *fl • • -2 • JiiJ .i

h 2000 2001 2002 2003

1

0

h 2004 2005 2006 2007

1

0

3 * 2

1234 1234 1234 1234

Calendar Years Quarterly

V Issued orannounced through July 20,1976.

* Less than $50 million. Oak* at Ma Secretary af (ha Trerevry

Jgtt-27.1*7H1
$Bil.

1

0

3

2

1

0-

-1

-2

NET NEW MONEY IN AGENCY FINANCE

Privately Held

ill.

FCA

nihil. II

FHLB

I l|* r

II III IV I II III IV

1973 1974

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

1975 1976 1973

Calendar Years Quarterly

* Less than $50 million.

$Bil.

1

0

•.II

-1

-2

2

1

0

-1-

-2

ll

• FNMA

JL

Budget Agencies

i

I

I

II III IV I II III IV I II III IV

1974 1975 1976

Jv*27.197S12

Mfcaotlheleuera.) of the lieaaury