TREASURY MARKETABLE MATURITIES

Privately held, Excluding Bills
1995

e
ed

32.4

BRERESREBS onamodHESSBRRBSBRS

4
2
0
8
6
4
3
J F M A M J J A Ss ie} N D
IMME Scourities issued prior to 1993 [2] New issues calendar year 1994
EE New issues calendar year 1993 EES] Issued or announced through July 28, 1995,
Depareent tt Teny
hc ohare Parca say 39, 1096-26
soi Privately held, Excluding Bills
x aE 2001
A=
% &
2 B 245
& BE
Ae
2
2 ‘s
1 gE 134 135
a BE 0
E
A
6
3 a = = =
Z 2002
ra
a
2
2 28
2
‘8
18
4
8 107
Hy
6
‘
z as ze
T T
ups gs 1999,., we we ay 2003
° [ 28
§ 29
2
6
" 1a a gy 2000
3 ‘ook! HE Bo. 7
10
8 29
6
20
; : | A
J FMAM J J AS ON D J oF MAM J J AS ON D
IMM Securities issued prior to 1993, [J New issues calendar year 1994
atte te EZBl New issues calendar year 1993, ES] Issued or announced through July 28, 1995
Oktruenet Peas

uy 91. 1905-27


SECURITIES HELD IN STRIPS FORM 1993-1995

Privately Held

$Bil $Bil.
Strippable Strij
BB 4s of July 31, 1993: $666.1 billion, $197.3 billion
80 |- —{80
[2] As of July 31, 1994: $731.8 billion, $222.5 billion
As of July 21, 1995: $787.1 billion, $225.8 billion
60 60
40 40
20 20

Years Remaining to Maturity

Note: The STRIPS program was established in February 1985. The 11 5/8% note of November 15,
1994, issued on November 15, 1984, was the first STRIPS-eligible security to mature.

Deparment ous Tvamiry
(Of of Mave Financ

SECURITIES HELD IN STRIPS FORM 1993-1995

Percent of Privately Held

Less than 5 years 5-10 years 10-15 years 15-20 years 20-25 years 25-30 years

sy, 1906

%

50 Ey 4s of suty 31, 1993
[7] As of July 31, 1994

40 & As of July 21, 1995

20

10

Years Remaining to Maturity

Note: The STRIPS program was established in February 1985. The 11 §/8% note of November 15,
1994, issued on November 15, 1984, was the first STRIPS-eligible security to mature.

apart ne Tvasury
Ones of Maret aren

Less than 5 years 5-10 years 10-15 years 15-20 years 20-25 years 25-30 years

%

40

30

20

10

shay 1. 1905-40



SHORT TERM INTEREST RATES

Weekly Averages

% %
9 +9
Prime Rate
hd
sr +8
ok ; Trrgh |
Commercial July 26
"46
3 Month
5 Federal Funds Treasury Bill +5
| | | | | | | | |

glee

Oct Nov Dec van Feb Mar Apr May
1994 1995

LONG TERM MARKET RATES

Quarterly Averages

% %
14 14
13 13
12 12
New Aa Corporates
W W
jay Through
10 af in July 26 10
9 | 9
i
8 i! Mn, 8
- mm, oI
. nn
7 ao-vearTM ms " i 7
f al
Treasury 30-Year ‘wat, fu My
6 Municipal Bonds My, fy dg
Moat
i | | L i L
1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995

Deparmant the Taasury

sy 38, 19648


STATE & LOCAL GOVERNMENT SERIES

$Bil,

10

$Bil.

== Gross Issues

aus Redemptions
Lt

um Net SLGs
40 | Ds DS OO “10
I nom wor nom Mot nom wot nom wot iF
1991 1992 1993 1994 1995
Ohana tance haya 18619
STATE AND LOCAL MATURITIES 1995-1997
$Bil, $Bil.

Daparmant fhe Treasury

‘Ohi hart Pane

14.4

1995

shay 31 190536


TREASURY NET BORROWING FROM NONMARKETABLE ISSUES
SBil. $Bil.

I 3
, ~ 5 | 23)
ao Savings Bonds es ; 6
8

= 8
[0 State and Local Series
sob 10
8:
i | Foreign Series 0 91
aa 4-12
14 i ! ! | 44
! nom wot now Mor nt om wot nom wot nome
1991 1992 1993 1994 1995
estimate
Dawa Teaney
Ensen Ale 119081
SALES OF UNITED STATES SAVINGS BONDS
1980 - 1995
$Bil.|
6
5
4
3
2
Payroll Sales
1
facaee eens eee ee ee ee ee ee ee ee
1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 95°
End of Quarter
ete Taney estimate

fon ot Mars inaen ey 39, 1085.42


NET AWARDS TO FOREIGN OFFICIAL ACCOUNTS “
SBil a8

Notes

-4— [7215 years and over :
EEE3 2-3 years me
¢l. Bills 35 _|
co m7 42 6
8 | ! |
toi om iv ono omow Ion omow ' ono wv rom mes
1991 1992 1993 1994 1995
Quarterly Totals
/ Noncompetitive awards to foreign official accounts held in custody at the Federal Reserve in
‘excess of foreign custody account holdings of maturing secunties.
acetates” % Through July 28, 1986. shy 99, 100656
SHORT TERM INTEREST RATES
Quarterly Averages
% %
72 Prime Rate Hie
¥
Through
July 26
10 it
8 8
6 6
3 Month
4k Treasury Bill 4
rittisitiiitivitriitiii tii tii tis edi tii ti

iy

1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995

Deparment fh Troary
Otis of art Prae, ty 28, 1006-17


TREASURY FINANCING REQUIREMENTS

$Bil.

April - June 1995

SBil.
140} Uses | : Sources 140
131%
te,
120}- 120
100} 100
Coupon Maturities I} CME @ Coupon Refunding
80}-- ~{ 80
State and Local Savings Bonds
60 60
+
1%, 1%
40 “ Cash ~ 40
Net Market > Surplus”
Borrowing
Increase 4
20 in Cash Balance a ae
0 Ei 0

‘Includes budget surplus, changes in accrued interest and checks
outstanding and miscellaneous debt transactions.

Depart ot eay
(Ofca of Mata Pane say, 1905:
TREASURY FINANCING REQUIREMENTS
July -September 1995
SBil. T S$Bil.
140|— Uses 137% Sources | 140
120|- —4120
100| Coupon Maturities » « Coupon Refunding 1100
as -{80
80 State and Local

+

60 9%
40

20

Poeticit®

Savings Bonds

Net Market
Borrowing 2

Cash

Decrease in >
Balance ”

*/ Issued or announced through July 28, 1995.
% Includes budget defict, changes in accrued interest and checks
outstanding and minor miscellaneous debt transactions.

Doparman ttm Teas
Ofton of Mat France

* Assumes a $30 billion cash balance September 30, 1995.

20

sy 21,1952


PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT

fer BY MATURITY
i.

———> 2847.1
zeo0}- — [_] Over 10 years June 30, 1995 al
2600 |~ 417.6

2-10 years
2400 ~ a
2200 ;-— 1-2 years
eer 986.9
4800 ff 1 year & under
1600

4200 - iis ie CLIT 1.6
1000 j : CUE j

is}
1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994
As of December 31
‘aparece Trowtry

COtee of Mart France shay 21, 1905:22

PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT

Percent Distribution By Maturity

Coupons Llovertoyears [I 1-2 years Baits
© 2-10 years 1 year & under
100% [-
15
80 4
a 34
60 |

° 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 Jun'95
As of December 31
epartnant of ie Troasury
(Omen ot Mamet Fiance

shay, 0085-20


INTERMEDIATE TERM INTEREST RATES

Weekly Averages*

% %
i di tel
¢ s
i man FHLMC 30-Year 9
AA 10-Year Industrial ~-S Conventional Through
os Soy as July 26
8 8
7 7
6 6
5 5
Oct Nov Dec = Jans Feb. Mar Apr May = Jun Jul
1994 1995
* Salomon 10-yr. AA Industral is a Thursday rate.
Secunia Tay
ea Pres 25 90820
MARKET YIELDS ON GOVERNMENTS
“Ti hav te [Leenlenned,
7.0;- May 1, 1995 ccapmmcmqmmneser2 7 9
| | ppowmapecmm pene et 7
eal | |
te |
65|- | i wad 6.5
|
6.0 | —| 60
ff | |
July 31,1995... : %
| net ee caer
o
5.5} ; a | 55
| | 7.0} | 7.0
| a0 |
5.0}- | | es | 5 18 15.0
| | ao |
| 8:62 Gay 46 a8 20 ee 2d 2828 pao?
45 L i n 1 l 45
0 1 2 3 4 5 6 7 8 9 10

Years to Maturity

(Deparment of he Teasuy sean
‘ree o Marat Pace uy 9, 805-21


QUARTERLY CHANGES IN FOREIGN AND INTERNATIONAL
HOLDINGS OF PUBLIC DEBT SECURITIES

SBil, SBil.
40k Nonmarketable ie —| 40
35/- Marketable a7 329] 95
Bole [J Net Auction Awards to Foreign 1/ 30

Wl Other Transactions
25}- 25

217

20 20
15 15
10 10
5 5

0 0

5 5

-10 OA 710

a room ow ro va ono ow 7 e/"®

1991 1992 1993 1994 1995

1/ Austion awards to foreign official purchasers netted against holdings of maturing securities.
2/ Data through May 31, 1995.

apart of a Towsury
Ofen of Manet Fes ay 31, 108515

MAJOR FOREIGN HOLDERS OF TREASURY SECURITIES

December 31, 1993, December 31, 1994 May 31, 1995
‘Asa %of [Asa % of Asa % ot [Asa % of — [Ae0% of [Ase % of
SBillions| “Tota! | Total ||$BBilions | Total” | Total” || $ Billions) Total” | Total
cx an ae re ey ito ba
Japan |$142.7 22.9% 4.7% || $175.4 25.5% 5.5% | $2124 277% 65%
United Kingdom 68.5 11.0% 22% || 91.0 13.2% 2.9% || 1141 15.0% 3.5%
Germany 463° 74% 15%) 545 7.9% 1.7% 546 72% 1.7%
Switzerland 32.6 5.2% 1.1% 32.4 47% 1.0% |} 344 4.5% 1.1%
Canada | 230 9.7% 0.8% || 246 36% 0.8% | 224 3.9% 0.9%
Taiwan | 28.1 4.5% 0.9% | 258 = 37% ©=—0.8% | 27.0 3.5% 0.8%
OPEC 258 4.1% 0.8% | 247 «3.6%» 0.8% | 23.9 3.1% 0.7%
Spain 312 5.0% 1.0% | 279 4.1% 0.9% || 199 26% 0.6%
Belgium 12.0 19% 0.4% |, 13.1 1.9% 04% | 132 17% 0.4%
Mexico 232 3.7% 0.8% | 7.9 1.1% 0.2% || 121 1.6% 0.4%
Intl. & Regional == | 14.7 2.4% 05% || 107 1.6% 0.3% |, 11.0 1.4% 0.3%
France | 89 1.4% 0.3% |) 97 1.4% 0.3% 97 13% 0.3%
Other 166.0 26.6% 5.4% |, 190.7 27.7% 6.0% 200.1 26.3% 6.2%
Estimated i
Foreign Total || £280 100.0% 204%! GRE 100.0% 21.7% | 761.9 100.0% 23.4%

Note: RP's are included in “other”. Detail may not add to totals due to rounding

Source: Treasury Foreign Portfolio Investment Survey benchmark as of end-year 1989
‘and monthly data collected under the Treasury International Capital reporting
system.

Deparment of he Treamy 9 311006. 164



NET NEW CASH FROM NONCOMPETITIVE TENDERS IN

S$Mil. WEEKLY BILL A\ N Discount Rate %
700 |— 465
600 |-

{6.0
500 |-
400 + +55
300 . 5.0
aii 1 a

45

100

-100
Net New Cash (left scale) Discount Rate (right scale)
“200 E26 week
300 |- 13 week 4
woo Het
Jul Aug Sep Oct. = Nov. Dec = Jan Feb Mat Apr May” Jun. ul.
1994 1995
Y/ Excludes noncompetitive tenders from foreign official accounts and the Federal Reserve account.
Depart oft Traanry Preliminary
Otte oat Praee 3.9057

NONCOMPETITIVE TENDERS IN TREASURY NOTES AND BONDS”

SBI, ‘SBil.
35 (222 &5 Year 13.5
FEED 3, 10 & 30 Year
3.0-— § ~+ 3.0
25f— 25
|
2.0-- 2.0
15; 15
10 1.0
0.5}— | 05
| if
5 i | ILI Hy
To eae Hae
1993 1995
Y Excludes foreign add-ons from noncompetitive tenders Pp Preliminary
‘Treasury increased the maximum noncompetitive award to any noncompetitive bidder to $5 milion effective November 5, 1991
Etfectve February 11, 1992, a noncompetitive bidder may nat hold a position in WI racing, futures, of forward contacts,
‘nor submit both competitve and noncompetitive bes forts own account
eran te Vea

(fen ot Mart Faroe ay, 1606.8


TREASURY MARKETABLE MATURITIES

Privately held, Excluding Bills
sail

26 r
gy 2004 j ae 2013 .,,
‘ | | 4E | |
2 I |
| | | te
== | iE + 2014 a
ws 20% ab i
E | ¥ 2015
rn a
| _i i
ic ——— TM 2016 7
Ey’ 2006 | : |
H
oe aor Pg |
3E l 2008 2 a a= | |
‘E [ y _2008 a b= az 2017
é ee 132
Eg dT 2070 ma | BE
8 35 gE
il [a 2011 a eles |
tof | 2012 | a of 84 2018 a3
i | iE
° J FMAM JJ<AS OND ° JS FMA MdJJ AS ON D
MMM securties issued porto 1983 ZZ] Newisoues calendar year 1994
[2 new issues calendar year 1993 [ES5 Issued or announced through July 28, 1995

TREASURY MARKETABLE MATURITIES

Privately held. xpuaing Bills
BI

2019 F
as as ae 2022 100 12
iE |
oe
fF
3
BE 2023
: A
3 SF
= 2020
: /#
g
ae
8 | |
g i
BE ye
: 2024
:
3 119
;
2 2021 x20 |
| |
2025
F
too 118 118 % 110
3E /
ae
| ?E |
JFMAMJJASOND J FMAM J JASON D
WIE sccurties issued priorto 1983 ‘1 New issues calendar year 1994
Newissues calendar year 1909 ESE Issued or announced through Juy 26, 1995

tice of Maret Finance ly 31, 1906-28


SCHEDULE OF ISSUES TO BE ANNOUNCED AND AUCTIONED
IN OCTOBER 1995”

Monday Tuesday Wednesday Thursday Friday
2 3 4 5 6
Announce
52 week
9 10 4 12 13
i Auction
Holids
olay 52 week”
16 7 18 19 20
Announce
2year
5 year
23 24 25 26 27
Auction Auction
2yearY 5 year ¥
30 31

4/Does not include weekly bis
2/For settlement October 19
YFor settlement October 31

Deparment eth Tressiry
Ofte of Marat France Aug, 1095-22


AWARDS IN WEEKLY BILL AUCTIONS

(13- and 26-Week Bills Combined)
SMil.

Federal Reserve and Foreign

20,000
cj 15,000
10,000

10,000

5,000

1994
Calendar Year
“Data through July 24, 199 auction.
AWARDS IN 52-WEEK BILL AUCTIONS
$Mil,

Federal Reserve and Foreign

1994
Calendar Year
“Data through July 20, 1995 auction.

Dasara th Tsaaary
Offs a art Fnenen

ay, 1098.8


TREASURY OPERATING CASH BALANCE

Semi- Monthly

Tax and Loan Borrowing 1/|

Accounts Balance

Total Operating
Balance
b

cy

0
Federal Reserve Account

+10 F-

20

-30 i I | | i I it i ! 1 ! |

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
1994 1995
y,

‘Assumes refunding of maturing issues.

Deparment fhe Tenenry
Oca of Maret Franc iy 31, 19059

ea TREASURY NET MARKET BORROWING “
il. i

Coupons ssi.
103.5 [5] over 10 yrs.

[EE] 5-10 yrs. 2/ 100
246 [7] 2-under 5 yrs

ry

100 }-

81.0 80.6

-| 80

612

60 + 60

ales

20 20
0 CY)
-20 -20

| L L L
10 0
6 wo wo Wt on mw
1991 1992 1993 1994 1995

Y/, Excludes Federal Reserve and Government Account Transactions.
2/ 7 year note discontinued after Apri 1993.
8/ Issued or announced through July 28, 1995.

Sparro aay

(Oren of Maret Parc hay 39,1996


AVERAGE LENGTH OF THE MARKETABLE DEBT

Privately Held

Years
dune 1947
10 Years Months
10 5 Months June 30, 1995

5 Years, 4 Months

y

66

64

December 1975

8h 2 Years
5 Months

ake

3H

Litt ih tobi nnd Littitititisii tii
tgs a7 51 53 55 57 59 61 63 65 67 69 71 73 75 77 79 81 83 85 87 89 91 93

Deparment of th Testun
(fos of Maret Finance shy 31, 1905-26

MATURING COUPON ISSUES
August - December 1995
(in millions of dollars)

June 30, 1995
Heid by
Maturing Coupons Total Federal Reserve
& Government | Private Foreign1/
Accounts Investors | Investors

83/8% Bond 8/15/95-002/| 4,612 2,219 2,393 1
10 1/2% Note 8/15/95 7,956 1,097 6,859 78
8 1/2% Note 8/15/95 8,877 866 8,011 513
45/8% Note 8/15/95 18,038 2,911 15,127 675,
37/8% Note 8/31/95 17,577 725 16,852 1,720
37/8% Note 9/30/95 17,904 961 16,943 1,586
8 5/8% Note 10/15/95 7195 486 6,709 682
37/8% Note 10/31/95 18,271 1,087 17,184 53
11:1/2% Bond 11/15/95 1,482 63 1,419 15
91/2% Note 11/15/95 7,319 273 7,046 51
8 1/2% Note 11/15/95 9,023 769 8,255 653
5 1/8% Note 11/15/95 19,187 3,081 16,106 1,645
41/4% Note 11/30/95 18,604 752 17,852 2,183
41/4% Note 12/31/95 19,305 1,705 17,600 2.152
Totals 175,350 16,995 158,355 12,016

1/ FRB. custody accounts for foreign official institutions; included in Private investors.

2/ On April 11, Treasury called for redemption at par the 8 3/8% Bonds 1995-00, issued
‘August 15, 1975.

Department of te Tressay
Offce of Maret France uty 23, 1998.28


SCHEDULE OF ISSUES TO BE ANNOUNCED AND AUCTIONED

IN AUGUST 1995 ”
Monday Tuesday Wednesday Thursday Friday
1 2 3 4
7 8 : 9 ; 10 ; "
Auction Auction. Auction Announce
Syear®/ 10 year?/ 30 year 2/ 52 week
14 15 16 17 18
Announce Auction
2 year 52 week
5 year
21 22 23 24 25
Auction Auction
2yearY SyearY
28 29 30 3t

Depanmont fhe Trossry
(ten ot Maret Fnenoe

“Does not include weekiy bills
2/For settlement August 15
37 For settlement August 24
4/For settlement August 31

SCHEDULE OF ISSUES TO BE ANNOUNCED AND AUCTIONED

IN SEPTEMBER 1995

Monday Tuesday Wednesday Thursday Friday
1
4 5 6 7 8
1, Announce
Holiday 52 week
1 12 13 14 15
Auction
52 week”
18 19 20 A 21 22
nnounce
2 year
5 year
25 26 27 28 29
Auction Auction
2yeary 5 year ¥

Deparment of the Treasury
Oftee of Manet Pane

Does not include weekly bits
2/For settiement September 21
‘9/For settiement October 2

‘August 1 1995.91