TREASURY MARKETABLE MATURITIES

Privately held, Excluding Bills

1997 x 2001
b 246
I - = l
2002
219

9
3 a a
100, 122 ue ng of
Boas a
Wy Vi.
SBE 33
F
2000 .., t
so

102 100 107 oH

| | | .
—E E En

AM JJ AS ON D JS FM AM J J AS ON D

HH Securities issued prior to 1993 EERE New issues calendar year 1994

apne the Taney BEBE Now issues calendar year 1999 Issued or announced through January 27, 1995

M

TREASURY MARKETABLE MATURITIES

Privately held, Excluding Bills

wo eas “ 2013 2
" 158 SS 1%

ap see 8 Nee

2 8 8

2014

|
Py 2015
I i

Bowaoe
q

7 016 7
2006
ss
2007 = |
2008 is “I 7 BOTT
"2009 am ‘as
ig _2070 5
2071 7
2012 7 2018 a

FMAM J J AS ON D
New issues calendar year 1994
:) Issued or announced through January 27, 1995

J FM AM J JS A S ON D
HE Securities issued prior to 1993

Deparment ofthe Treasury EEE New issues calendar year 1993
en siNaner nance

January 30, 1996-10


SECURITIES HELD IN STRIPS FORM 1993-1995

Privately Held
SBil. ‘$Bil.

Strippable Stripped
@@As of January 31, 1993: $629.1 billion, $166.5 billion
ESR As of January 31, 1994: $694.9 billion, $210.3 billion
EEE As of January 20, 1995: $757.7 billion, $226.0 billion

li,

80

60 60

40

+140

20

Less than 5 years 5-10 years 10-15 years 15-20 years 20-25 years 25-30 years
Years Remaining to Maturity

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

aparece of 9 Tatty
ioe ct art nance nrery 96, 1895-90

SECURITIES HELD IN STRIPS FORM 1993-1995

Percent of Privately Held

“Pitta sm”

40 ;- ES As of January 20, 1995 \ *o
\ :

20 \ =
\.
N

° : \ to)

Less than years 5-10 years 10-15 years 15-20 years 20-25 years 25-30 years
Years Remaining to Maturity
* The 11 9/4% bond of 11/15/09-14 had $4.9 billion (privately-held) available for stripping, of which
87% was held in stripped form
Note: The STRIPS program was established in Feburary 1985. The 11 5/8% note of November 16,

rs 1994, issued on November 15, 1984, was the first STRIPS-eligible security to mature.
One of Marat Psanan anuary 20. 1905-29


%

° “Wn
8
7 30-Year WA
Treasury 30-Year
6 Municipal Bonds

Deparment he Tresury

LONG TERM MARKET RATES

Quarterly Averages

Hetty ny
rn My itty,
ft ,

i 1
aul ty

Through} 44
January 25

INTERMEDIATE TERM INTEREST RATES

; 5
1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 95

Weekly Averages*
een AlN ‘
FHLMC 30-Year Conventional rf -
SU o7 ine
ra on ca

ne a Senos?

AA 10-Year Industrial

Treasury 10-Year

Through
January 25
Treasury 5-Year
Apr May dun Jul Aug Sep Oct Nov Dec Jan
1994 1995

* Salomon 10-yr. AA Industrial is a Thursday rate.

January 30, 1908-24

So

January 30, 1865.25


STATE & LOCAL GOVERNMENT SERIES

SBily SBil.
=== Gross Issues
sess: Redemptions ms,
10 10
5 5
0 0
SBil. $Bil
0 {0
6 === Net SLGs 6
“10 10

Voronoi
1991

Vet ooo
1992

Ver ool
1993

Volt tot

STATE AND LOCAL MATURITIES 1995 - 1997

iv

1994

nary 90, 1085-2

i oat

1995

IV | i MN

1996

Iv | i ill

1997

Iv

Januar 90, 1005.28


TREASURY NET BORROWING FROM NONMARKETABLE ISSUES
SBil. SBil.

8 8

bh Oo

bh Oo MD Ak OD

FJ Savings Bonds

[9] State and Local Series

“10 I Foreign Series -10
42; aoa l2
44 l i (|
1 I mW | I i Iv | I Mo | I MW Iv le
1991 1992 1993 1994 1995
e estimate
eee
cmauinccencs arsine

SALES OF UNITED STATES SAVINGS BONDS

1980 - 1994
SBil.
6.
5h . i
i i
@ total sales i
4 ' |

| NI
F Lan ae

Payroll Sales
TRA
| fjord ral rand lr rool lard Use or nd ror nr Oa
1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994°
End of Quarter
@ estimate

Deparment of ne Treasury
(fico of arat France arery 30, 1805-1


SHORT TERM INTEREST RATES

Quarterly Averages

% %
Prime Rate

12 12
Through
January 25] 4)

8 8

6 “6

Commercial
3 Month Paper
ak Treasury Bill l4
2 petipi tori dba tee te

2
1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 95

Deparment fhe Tessury
oe of Marea nance nury 20, 1995-22

SHORT TERM INTEREST RATES

Weekly Averages

% %
at- (8
Prime Rate
4
Through
7k January 25)

Commercial
Paper

5

14

3

Apr May Jun Jul Aug Sep-Oct +~=Nov. Dec. Jan
1994 1995

fen ot Maret Finance amusey 20, 1806-28


$Bil.

TREASURY FINANCING REQUIREMENTS

October - December 1994

175

150

125

75

50

25

: _
Uses 166. Sources
==
150
Coupon Maturities > MECC EEE @ Coupon Refunding 125
State and Local Savings Bonds 100
»
4% 4 75
Foreign Nonmarketables D 50
Net Market Borrowing mp cca
« Deficit ” Balance | 95
a 4
=,

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

SHSM or See

January 3, 1065-16

TREASURY FINANCING REQUIREMENTS

January - March 1995,
T

$Bil, $Bil.
200 Uses 196, Sources 200
175 4175
150}. Coupon Maturities gp @ coupon Refunding 150
125 |. State and Local Savings Bonds }125
4 os
10%, 1%
100 ee. 100
1
75 * 75
50 Foreign Nonmarketables Net Market » 939, Decrease in
Borrowing Cash 50
@vetici Balance?
25 | se 25
6"
0 0
‘/ Includes budget deficit, changes in accrued interest and checks
outstanding and minor miscelaneous debt transactions,
2 Issued or announced through January 27, 1995,
Separtraet ff Treasury % Assumes a $20 billion cash balance March 31, 1995.
Seana

nary 90, 1905-47


PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT

Percent Distribution By Maturity

Coupons [Jover10years [1] 1-2 years Mi Bits
© 2-10 years (0 1 year & under
100%
15
80 +
35
6o Lb
|
| ofa
40. | | i, 7
13
20 +
0

1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994
As of December 31
Deparment ft Taasy

(ten ct Maret Fone rary 30, 1005-6

AVERAGE LENGTH OF THE MARKETABLE DEBT

Privately Held

‘ June 1947 ie
10 Years

5 Months 70

December 31, 1994
5 Years, 6 Months

December 1975
2 Years
5 Months

2eLllill Lititi tit diss
1945 47 49 51 53 55 57 59 61 63 65 67 69 71 73 75 77 79 81 83 85 87 89 91 93

Beparrat h Tromay


MARKET YIELDS ON GOVERNMENTS

% %
8/~ January 30, 1995 8
——d
se
7h tans I,
6 Y October 31, 1994 _le
5 uw Jenne -
jaa
awe % .
oo
Ole we 80 so <4
oP January 31, 1994 7s ain
3p" zo dro 3
Ce +65
2b sof | woot ut I.
58.042 [te 1 20 2 BB 2 30S
1 4 n L 1
0 ul B 3 4 5 6 7 8 9 10
Years to Maturity
Once cinenatPewce” ery 21. 100695
PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT
$Bi BY MATURITY
il.
2800 December 31, 1994 ———> 2737.8
Over 10 years
2800 a . 412.3
2400 |— 1 2-10 years ao
2200 ;-—
2000 - [5 1-2 years
1800 963.0

J 1 year & under

1600 ;—
1400
1200
1000
800
600
400
200

i)

1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994
As of December 31

Deparment 9 Treany

‘Ofhcn of Mar Pace nny 20 1005-5


QUARTERLY CHANGES IN FOREIGN AND INTERNATIONAL
HOLDINGS OF PUBLIC DEBT SECURITIES

$Bil. ‘SBil.
Nonmarketable es
cr & 31.2
L. Marketable
EY {J Net Auction Awards to Foreign 1/ 20330
25 I Other Transactions map | 25
20F 18,2 Ed)
15 15
10 10
5 5
0 0
5 5
-10 = 03 4-10
79
-15 ! L L L 15
| nou vet tom ver hom wer onm wot on om we
1990 1991 1992 1993 1994
1/ Auction awards to foreign oficial purchasers netted against holdings of maturing securties.
2/ Data through November 30, 1994.
Deparment of te raamcy
on otal Fae amy 30199520
NET AWARDS TO FOREIGN OFFICIAL ACCOUNTS ”
S$Bil. 6.8 $Bil.
6.1
| 6.4 |
u / 61 8
Alle 3.6 a
45
4 4
1.3
ae THe
0 ane I
wl oe z
2b 4} ig 4-2
Notes
4 }— [215 years and over 4-4
EES 24 years ¥
7 Bills +
St- am 6
L | | i
“ 8
i 1 ott Iv nee toot Ww 1 oi tt iv 1y
1991 1992 1993 1994 1995

Quarterly Totals

1 Noncompetitive awards to foreign official accounts held in custody at the Federal Reserve in
excess of foreign custody account holdings of maturing securities

2/ 4 year notes not issued after December 31, 1990.

Departnant of tm Trosry Y Through January 27, 1995.
Ste oan Fares ary 30, 3005.21


$Mil.
700

600

500

400

NET NEW CASH FROM NONCOMPETITIVE TENDERS IN
WEEKLY BILL AUCTIONS”

Discount Rate %

[- Net New Cash (lett scale) Discount Rate (right scale) poet, lice
[5 26 week seecee 26 week of 60
13 week

{5.5
45.0
4.5

300 4.0
200 3.5
3.0
100
25
0
-100 4
op Arnallninl evnethnronllevcd ieenathAnARAAnAbaAdhansllvnad inne leans
Jan Feb Mar Apr May = Jun Jul, Aug Sep-Oct Nevo Jan
1994 1995
1/ Excludes noncompetitive tenders from foreign official accounts and the Federal Reserve account.
Depariort tthe Tsamy Preliminary
Ofte ot Mat France anany 20,986.27

NONCOMPETITIVE TENDERS IN TREASURY NOTES AND BONDS’

SBil.

3.5

3.0

25

2.0

1.5

$Bil.
lm 7 Year

_ RH 2&5 Year A les

EEE 3, 10 & 30 Year 3 |

{3.0

A 4
A q +] 2.5
iS
142.0
NA

= 415
N
3

| : 1.0
N

} N 5
NN
N

i Nu
JFMAMJJASOND J A SOND v?P °
1993 1995
_1/Excludes foreign add-ons from noncompetitive tenders. P Preliminary

‘Treawury increased the maximum noncompatitve awars to any noncompatitve bile ta $5 milion effective NovernberS, 1991

Etec Fabry 11,1902 a noncompottvn biker ay not hold postin mn WI nad. ures, or forward contacts,
‘nor submit bob compatiwe and noncompaltive bie for is own account

apart he Tremey

Maret Beanee anasay 30, 1005.3


TREASURY MARKETABLE MATURITIES

Privately held, Excluding Bills

se

= 2019 if 2022

zt ies we 2 "90 "ee
: ; l I
: ey 2023 2

: 8 N

2 2 Ni

& 2020 ‘ 8

g 208 a i

ay oe C

4 2 2024

; :

2 2021 "

32 a 4

a 2 2025

Sf os us ss ‘

J FM AM J J AS ON D FMAM JJ AS ON D

Deparment of te Treasiry

hts or ar nance

IM Securities issued prior to 1993,
HBB Now issues calendar year 1993

New issues calendar year 1994
Issued or announced through January 27, 1995

January 90, 1905-11

SCHEDULE OF ISSUES TO BE ANNOUNCED AND AUCTIONED
IN FEBRUARY 1995

Monday Tuesday Wednesday Thursday Friday
1 3
Auction
52 week
6 7 8 9 10
13 14 15 Announce 16 17
2 year
5 year
20 at 22 Aucti 23 24
i ction Auction Announce
Holidé
loliday 2yearY 5 year ¥ 52 week 4
27 28

Y Does not include weekly bills
2/For settiement February 9
{For settlement February 28

4/For auction March 2 and settiement March 9

Fotrany 1, 1985-18,



AWARDS IN WEEKLY BILL AUCTIONS

(13- and 26-Week Bills Combined)
$Mil.

Federal Reserve and Foreign

Calendar Year
“Data through January 23, 1995 Auction.

sparen of he Taasiry
flee of Maret Fares sarury 30, 1006-28

AWARDS IN 52-WEEK BILL AUCTIONS

Calendar Year
“Data through January 5, 1995 Auction.

Doparmort fe Treasury

(in of Marna nce Smnenty 90, 1995.12


TREASURY OPERATING CASH BALANCE

a Semi- Monthly
il.
60 [— Total Operating Nee
ing 1
50 [- Tax and Loan cme |

A Accounts Balance
a @

Federal Reserve Account

-10 f—
-20
-30 |
-40 j-
-50 |L
-60 1 1 | | i ! 1 i { a i 1 {
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
1994 1995
Yascumes refunding of maturing issues,
Deparment ot he Trasy
a ota nance nua 20,0658
TREASURY NET MARKET BORROWING Y
il. il.
$Bil. Coupons SBil
103.5 (2 over 10 yrs. 100
100 | a
EE] 5 - 10 yrs.2/ 2%
846 [7] 2-underSyrs | |
80 ' 80
ToBe
Done|
a
60 ‘i 60
ny
in
40 1 +740
it
ti
20 20
0 0
-20 -20
i i i ! 40

i Wow ot ui " ul

1992 1993
1/, Excludes Federal Reserve and Government Account Transactions.
7 year note discontinued after Apni! 1993,
3/ Issued or announced through January 27, 1995.

Vol Vol i Ml

1994

il} Iv
1991

Deparment te Treanry
Ota ol Maret Roane

enanry 30 3908-18


MATURING COUPON ISSUES
February - June 1995
(in millions of dollars)

December 31, 1994
Held by
Maturing Coupons Federal Reserve
Total &Government | Private | Foreign1/
Accounts Investors | Investors
11 1/4% Note 2/15/95 6,934 1,453 5,481 70
73/4% Note 2/15/95 8,344 103 8,241 433
51/2% Note 2/15/95 17,774 2,374 15,400 1,018
3 % Bond 2/15/95 102 57 45 0
101/2% Bond 2/15/95 1,502 182 1,320 50
77/8% Bond 2/15/952/ 2,749 777 1,972 0
37/8% Note 2/28/95 16,613 1,146 15,467 1,508
37/8% Note 3/31/95 17,305 2,095 15,210 1,419
8 3/8% Note 4/15/95 7,018 370 6,648 700
37/8% Note 4/30/95 16,797 703 16,094 2,063
111/4% Note 5/15/95 7,127 798 6,329 185
8 1/2% Note 5/15/95 8,293 273 8,020 1,021
57/8% Note 5/15/95 19,152 3,829 15,323 2,373
12 5/8% Bond 5/15/95 1,503 a7 1,086 4
10 3/8% Bond 5/15/95 1,504 126 1,378 251
41/8% Note 5/31/95 17,527 1,227 16,300 2,813
41/8% Note 6/30/95 18,164 1,392 16,772 3,008
Totals 168,408 17,322 151,086 16,916
1/ FRB. custody accounts for foreign official institutions; included in Private Investors.
2/ On October 12, Treasury called for redemption at par the 7 7/8% Bonds 1995-00, issued
February 15, 1975.
Depriact the Treeiny
Otic ovat ance cry 96, 1985-7
TREASURY MARKETABLE MATURITIES
Privately held, Excluding Bills

32.1 1995 32.8

TTT
5

a

a

8

g
a  °

g

a

a

q
|

a

TTTTTTYTT TTT

J F M A M J J A Ss ie) N D
HMI Securities issued prior to 1993 SQNE New issues calendar year 1994

eee BBB New issues calendar year 1993 = Issued or announced through January 27, 1995
Sti enionat Pace Janay 20.1965:



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

Monday Tuesday Wednesday Thursday Friday
1 2 3
Auction
52 week
6 7 8 9 10
13 14 15 16 17
20 a 22 23 24
Announce Announce
2 year 52 week
5 year
27 28 29 ; 30 31
Auction Auction Auction
2yearY 5 year¥ 52 weekY

Deparment of the Treasury
fie 3 Marat Finance

4 Does not include weekiy bls

8/For settlement March 9
{Y For settlement March 31
4/For settlement April 6

February 1 1905-14

SCHEDULE OF ISSUES TO BE ANNOUNCED AND AUCTIONED
IN APRIL 1995.”

Monday Tuesday Wednesday Thursday Friday
3 4 S 6 7
10 1 12 13 14
17 18 19 20 21
Announce Announce
2 year 52 week
5 year
24 25 26 27 28
Auction Auction Auction
2 year? 5 year” 52 weekY

Deparmont fhe Tessury
(Oftee of Maret Finance

J/ Does not include weekly bills

2/For settlement May 1
9/For settlement May 4

Faery 9, 1906-15