TREASURY FINANCING REQUIREMENTS

July - September 1982

$Bil.

Uses

80-

Coupon v

Maturities ^

70

60

50

40

30

20

10

0

' ( Gov't Series Foreign I -|3/4

Nonmarketables^ Public #"

^Series,

1V4

^Cash Deficit

^ Increase in Cash Balance

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

Sources

I4Coupon Refunding

1/2

Savings Bonds

and Other

Net Market

Borrowing

$Bil.

80

70

60

50

40

30

20

10

0

October 26, 1982-21
TREASURY FINANCING REQUIREMENTS

October - December 1982

Uses

Coupon

Maturities*!

Foreign

_[~ Nonmarketables

I (Gov't Series 2

¥< Public • - kSeries %A'

Sources

^ Coupon Refunding

$Bil.

80

70

60

50

40

30

20

10

0

1/2 Savings Bonds and Other

$Bil.

80

70

60

50

40

30

20

10

0

Net Market

Borrowing

461/2 <

71

To Be

Done

35V2

•4 Cash Deficit

Office of the Secretaryof the Treasury

Office of Government Finance& MarketAnalysis

\

Decrease in ^

Cash Balance ^

J7 Issued or announced through October 22, 1982

2/Assumes $15 billion cash balance December 31, 1982

m

October 26, 1982-20
TREASURY OPERATING CASH BALANCE

Semi-Monthly

-30

Oct. Nov. Dec. Jan.

1981

Feb. Mar. Apr. May Jun. Jul.

1982

Aug. Sept. Oct. Nov. Dec.

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis October 26, 1982-14
TREASURY NET MARKET BORROWING^

Calendar Year Quarters

II III IV

1978

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

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

1979 1980 1981

1/ Excludes Federal Reserve and Government Account Transactions.

II III IV

1982

October 26, 1982-15
TREASURY NET BORROWING FROM NONMARKETABLE ISSUES

$Bil.

10

8

6

4

2

0

-2

-4

-6

-8

I

LTZ3 Savings Bonds

^^ State & Local Series

•I Foreign Nonmarketables

2.2

-1.7-1.4

-.9

-6.6

II ••

! •«* j—}

-1.4

-2.4-

HI

III

-2.5-2.1

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

1978 1979 1980

e estimate

1981 1982

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis October 26, 1982-1

$Bil.

10

8

6

4

2

0

-2

-4

-6

—8
$Bil.

20

16

12

8

4

0

QUARTERLY CHANGES IN FOREIGN AND INTERNATIONAL

HOLDINGS OF PUBLIC DEBT SECURITIES

16.9

14.9

1.4

Nonmarketable

CZ3

Marketable

^ Add-onsJ/

••Other Transactions

5.5

B** B83

M 8.6

-4 -

-4.9

H

-1.3 -.5

-.4

-8

•12

•16

I II III

1978

-5.0

-13.3

IV I

1979

-3.8

-5.8

IV I II III IV I II III IV I II ma/

1980 1981 1982

$Bil.

20

-16

- 12

8

4

0

-4

-8

-12

-16

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

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

monetary authorities which are added to the announced amount of the issue.

2/ Partly estimated. October 26, 1982-2
CUMULATIVE NET CASH FLOW IN SAVINGS BONDS*/

-10

-12

Office of the Secretary of the Treasury

Office of Government Finance & MarketAnalysis

M M J J A

Month of year

1/ Cash sales less redemptions

e October 1982 partly estimated

N

-12

October 26, 1982-13
%

22

1978

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

SHORT TERM INTEREST RATES

Monthly Averages

1979 1980 1981

Through

week endingOctober 22

1982

%

22

20

18

16

14

12

10

8

6

October 26, 1982-9
%

Jan Feb

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

SHORT TERM INTEREST RATES

Weekly Averages

Prime Rate

Through

week ending

October 20

i

•...•••••••.

%

16

14

12

10

-8

Mar Apr May Jun

1982

Jul Aug Sept Oct

October 26, 1982-8
%

LONG MARKET RATES

Monthly Averages

%

19-

—

Corporates^/ \ /"\ A

New Conven

' * •

>i \ \ / /

tional Jj^yl \ V/ y7 •

•

•

V\\v \ - Mortgages *—""' /

-3*1— If*

—-^ *•-% ,—•—-^ —lll( * •••

+—•••

/-*'

•

•

•

•

•

t"

Treasury 20-Year / \y Through

i $ ~i. October 22

.I. J 1 20-Year

..•••••••.•••••* •••••••* •"—•——• Municipal Bonds

1 1 1 1 1 1 1 1 1 1 1 1 1 1 11 111 11 II 1 ii 11 i 1 1 1 1 I 1 1 1 1 1 1

-19

17

15-

13

11-

9-:

1978

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

1979 1980

-17

15

-13

-11

-9

-7

1981 1982

October 26, 1982-7
INTERMEDIATE AND LONG MARKET RATES

Weekly Averages

%

Officeof the Secretaryof the Treasury

Officeof Government Finance &Market Analysis

May June

1982

October 26, 1982-6
%

19

18

17

16

15

14

13

12

11

MARKET YIELDS ON GOVERNMENTS

Bid Yields

% ^

i

—,—

i I I

—

I I I I I i

13 13

12 12 —

June 25.11>82

11

1°1

11

m —

0 12

I

14 16

I

18 20 22

I

24 26

I

28 30

Years to Maturity

%

19

18

17

16

15

4

13

12

11

10

9

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis October 26. 1982-22
NEW MONEY FROM NONCOMPETITIVE BIDS IN

TREASURY BILL AUCTIONS AND AVERAGE AUCTION YIELDS

$Mil

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

Apr. May June

1982 Auction Dates

_!/ New money is the difference between noncompetitive bids on the

new issues and maturing bills previously bid noncompetitively.

2J Discount basis. * Tuesday auction following holiday. ** Friday auction preceding holiday.

October 26, 1882-12
NEW MONEY FROM NONCOMPETITIVE BIDS IN

TREASURY BILL AUCTIONS AND AVERAGE AUCTION YIELDS

$Mil.

600 r500

400

300

200

100

-100

-200

-300

-400

Office of the Secretary of the Treasury

Office of Government Financing

Average Auction Yields-"

(right scale)

, 6 Month Bill

y\ 3 Month Bill

May June

1981 Auction Dates

JJ Discount basis.

_2/New money is the difference between noncompetitive bids on the

new issues and maturing bills previously bid noncompetitively.

* Friday auction preceding holiday.

New Money-^

(left scale)

• 6 Months

• 3 Months

%

17

16

15

14

13

12

11

10

9

8

October 27. 1981-14
NONCOMPETITIVE TENDERS AND AVERAGE AUCTION YIELDS

$Bil.

1.6

1.4

1.2

1.0

.8

.6

.4

%

16

15

14

13

12

11

10

Average Auction Yields (left scale) Noncompetitive Tenders (right scale)

IH 2 Year Notes

^ 3 Year Notes

0 8

Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun.

1981 1982

Jul. Aug. Sep. Oct. Nov.

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis October 26, 1982-19
Basis Points

COVERAGE OF TWO-YEAR NOTES

Points

JFMAMJJASONDJFMAMJJASONDJFMAMJJASOND

1980 1981 1982

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

J/ Excludes Federal Reserve tenders for F.R.B. and foreign add-ons. October 26, 1982-23
PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT

BY MATURITY

1971 1972 1973 1974

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

1975 1976 1977

As of December 31

1978 1979 1980 1981

October 26, 1982-3
PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT

BY MATURITY

Coupons Hover 10 yrs ^1-2 yrs Billsj

• 2-10 yrs ^ 1 yr & under

1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 Sept'82

As of December 31

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis October 26, 1982-4
AVERAGE LENGTH OF THE MARKETABLE DEBT

Privately Held

June 1947

10 Years

5 Months

Months

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

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

September 1982

3 Years

11 Months

October 26, 1982-5
MATURING COUPON ISSUES

November 1982 • March 1983

(In Millions of Dollars)

Maturing Issues

Outstanding September 30,1982

Total

Held By

Federal Reserve

& Government

Accounts

Private

Investors

Foreign

Investors!/

7 7/8%Nt. 11/15/82

7 1/8%Nt. 11/15/82

13 7/8%Nt. 11/30/82

9 3/8%Nt. 12/31/82

15 1/8%Nt. 12/31/82

13 5/8%Nt. 1/31/83

8% Nt. 2/15/83

13 7/8%Nt. 2/28/83

9 1/4%Nt. 3/31/83

12 5/8%Nt. 3/31/83

2,902

2,737

4,966

3,205

4,955

5,191

7,958

5,438

2,930

5,583

797

239

433

459

501

565

2,163

517

66

908

2,105

2,498

4,533

2,746

4,454

4,626

5,795

4,921

2,864

4,675

24

284

557

310

387

697

22

798

340

1,214

Total 45,865 6,648 39,217 4,633

1/ F.R.B. custody accounts for foreign official institutions;

Included in Private Investors.

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis October 26, 1982-16
$Bil.

8

6

4

2

0

8

6

4

2

0

10

8

6

4

2

0

14

12

10

8

6

4

2

0

8

6

4

2

0

TREASURY MARKETABLE MATURITIES

Privately Held, Excluding Bills and Exchange Notes

,$Bil.

4.65-84,9

1982

75 5.2 618983 6.6

4.2|

7.3 7.2

llJ 111 l ill I J I • IB •

1CL0 9.5

1 - 4.5 80

oo 1984

ac> 8 6 7 2

50g55 155

2

6 9

1 5.6 | 5.2

• I

1985

11 o

124

8.3

3.4 I 3.1

3.1

l H 1986 U

sia I HI 1M HI

3.3

?J 3.1 3.3

55

6.8

J FMAMJ JASOND

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

Securities issued prior to 1980

New issues calendar year 1980

10

8

6

4 -

2

0

8

6

4

8.0

2.7

2-1

oL

8

6

4

2

0

6-

4

2

0

6-

4-

2

0

10-

8

6

4

2

0

3.5

2.6

55

ft

2.9 2.4

3.3

2.2

1.7

9.0

1987

4.1

1988

3.4

1989

4.7

1990

1991

1992

2.6

3

2.4

2.4

I

7.1

3.2 2.3

42 3.8

ni

5.0

2.5

J FMAMJ JASOND

^ New issues calendar year 1981

HI Issued or announced through October 22, 1982 ocober 26.198210
$Bil

1.9

2.9

1.7

2.1

— 1.5

1.7

TREASURY MARKETABLE MATURITIES

Privately Held, Excluding Bills and Exchange Notes

$Bil

1993

1994

2.7

1995

1996

1997

1998

1999

2000

2001

1.7

2002

2.2

1.5

2.5

I

2.5

1.3

1.5

1.4

0

1.6

a2.8

2 —

0

2

2.7

1.8

0

2003

2004

2.1 2005

3.9

I

1.9

2006

2007

2008

2009

2010

3.8 2011

1

2012

1.4

1.2

3.6

3.3

I

4.2

4.4

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

I Securitiesissued prior to 1980

KZ New issues calendar year 1980

J F M A M J J

New issues calendar year 1981

A S O N D

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis !!! Issued or announced through October 22, 1982 October 26,1982 n
NET NEW MONEY IN AGENCY FINANCE, QUARTERLY

Privately Held

$Bil.

FCA

l.l. .1

I II III IV

1978

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

1979 1980 1981 1982

*Less than $50 million.

GNMA | I

Mortgage Backed Securities

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

1978 1979 1980 1981

e Partly estimated.

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

§!£ o! GovernFi'nfn^sSe, Ana,ysis certificates, mortgage-backed bonds, and mortgage participation certificates.

I II llleIV

1982

October 26, 1982-17
AGENCY MATURITIES^

Privately Held

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

111. - 1990 1991 1992 1993

4 -

2

0

1-5 .9 ^ .9 • •• -• A .4

1994 1995 1996 1997

2

o £ A .1 j.£

1.2

1998 1999 2000 2001

2 -

o

.1 .2 .2 .1 .1 * J.

2002 2003 2004 2005

2

0 * £ .1 .1

2006 2007 2008 2009

2

J. J. .2 .1 .2 3 .3 .3

2010 2011 2012 2013

2

2

.5 .2

- 2014 2015 2016 2017

.2

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

Calendar Years Quarterly

•u Securities issued through September 30, 1982

* LeSS than $50 million. October 26. 198218 Office of the Secretary of the Treasury

Office of Government Finance & MarketAnalysis