$Bil.

80

60

40

20

0

TREASURY FINANCING REQUIREMENTS

April — June 19851/

Increase in

Cash Balance

Uses

Coupon Maturities^

Foreign

Nonmarketables

1V4

Cash Deficit

Sources

^Coupon Refunding

Savings

Bonds

State & Local

Net Market .

Borrowing ^

iy Includes the two and four year notes which settled April 1, 1985

and excludes the two and four year notes which settled July 1, 1985.

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

$Bil.

80

60

40

-20

0

July 30,1985-16
$Bil.

100

80

60

40

20

0

TREASURY FINANCING REQUIREMENTS

July — September 1985^

Uses

Coupon Maturities ^

Foreign

Nonmarketables

4 Cash Deficit

103

Sources

4 Coupon Refunding

Savings Bonds

1

2V2

State & Local I

Net Market Borrowing

43V2

To be

done

22%

JU Includes the two and four year notes which settled July 1, 1985.

2/ Issued or announced through July 26,1985.

3/ Assumes a $20 billion cash balance September 30, 1985.

Decrease in

Cash Balance!/

$Bil.

100

80

60

40

20

0

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis July 30,1985-17
$Bil.

40

30

20

10

0

—10

—20

TREASURY OPERATING CASH BALANCE

Semi-Monthly

Operating

Balance

^.^^""'"X,,,,,,/ "W •'*'«««...."»»«.....,.„.„,#

Tax and Loan

Accounts Balance?

S**********

Federal Reserve Account

"">".. ^'"^

\ /

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

1984 1985

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

_l/ Assumes refunding of maturing issues

July 30. 1985-11
$Bil.

70

60

50

40

30

20

10

0

-10

-20

TREASURY NET MARKET BORROWING^

COUPONS

sOver 10yrs

ZE0-10yrs.

BILLS

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

1981 1982 1983 1984

-!/ Excludes Federal Reserve and Government Account Transactions.

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

1985

July 30, 1985-16
TREASURY NET BORROWING FROM NONMARKETABLE ISSUES

$Bil.

6- H Savings Bonds

202 State & Local Series

Hi Foreign Nonmarketables

2.9

5.9

111

1.5

6.3

4.6

4.1

I' 4

1.4

2.2

»

I

0

-2

p5»

I I I

-2.2 -2.4

-2.5

-.6

-4.0

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

1981 1982 1983

e estimate

1984 1985

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis July

$Bil.

0

-2

-4
QUARTERLY CHANGES IN FOREIGN AND INTERNATIONAL

HOLDINGS OF PUBLIC DEBT SECURITIES

$Bil.

15-

-10

Nonmarketable

-5.8

Marketable

^ Add-ons 1/

•• Other Transactions

17.3

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

1981 1982 1983 1984

V F.R.B. purchases of marketable issues as agentsfor foreign andinternational

monetary authorities which are addedto the announced amount ofthe issue.

^ Preliminary * Lesstnan $50 million.

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

$Bil.

15

10

0

—5

||2/

1985

-10

July 30, 1985-4
FOREIGN PARTICIPATION IN

DOMESTIC TREASURY NOTE AND BOND AUCTIONS

$Mil.

1250

1000

750

500

250

0 Ll

Years to Maturity

Issue Date

7

1/4

20

1/8

n

i

2

1/31

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

:

;

Yfr »ay

1

3 10 30 2

2/1!5 2/2(

1985

m

11Official Foreign through FRBNY

Other Official Foreign

Private Foreign

$Mil.

1250

1000

750

500

250

July 30. 1985-22
SHORT TERM INTEREST RATES

Monthly Averages

%

11

3 Month

Treasury Bill

1981 1982

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

JZ&p'-v Commercial

Paper

Prime Rate

I I I I I I I I II 1 I I 1 I

1983 1984

11

Through

July 26

a

1985

July 30,19

%

20

18

16

14

12

10

8

6
%

Nov

1984

SHORT TERM INTEREST RATES

Weekly Averages

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis July 30, 1985-10
LONG MARKET RATES

Monthly Averages

%

19-

17-

11 11111111

1981

/-\ New Conventional

\ L Mortgages

/a/ jy ^>a\

1982

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

New Aa

Corporatesj

20-Year

Municipal Bonds

1983

11

1984

^utiiiiimt,** ^ i

Through

July 26

••••

1985

July 30, 1985-9

%

19

17

15

13

11
%

v.

13

12

11

10

8

Oct

INTERMEDIATE AND LONG MARKET RATES

Weekly Averages

Nov

1984

New Aa

Corporates

Dec Jan

y Treasury '**«.

Feb Mar Apr

1985

Through week ending

July 26

May Jun Jul

%

13

12

11

10

8

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis July 30, 1985-7
%

12

11

10

8

MARKET YIELDS ON GOVERNMENTS

Bid Yields

"I r

March 18, 1985

#X# April 26, 1985^***

| I I .....J.....L......... I |

I I I I I LI i i "i

—r ' ' '

i

%

12

10 12 14 16 18 20 22 24 26 28 30

1%

M12

-11

10

8

0 1 4 5 6

Years to Maturity

8 9 10

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis July 30, 1985-21
$Bil.

PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT

BY MATURITY

1200

1100-

1000

900

800

700

600

500

400

300

200

100

0

1974 1975 1976 1977

COUPONS

Over 10 years

2-10 years

^^1-2 years

gggg 1 year & under

BILLS

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

1978 1979 1980 1981

As of December 31

June 30, 1985^ 1138.1

1982 1983 1984

July 30, 1985-2
PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT

BY MATURITY

Coupons QoveMOyrs gg1-2yrs Bills

S2-10yrs gg 1 yr & under

1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 Jun'85

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis July 30, 1985-1
AVERAGE LENGTH OF THE MARKETABLE DEBT

Privately Held

1945 47 49 51 53 55 57 59 61 63 65 67 69 71 73 75 77 79 81 83 85

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis July 30, 1985 3
MATURING COUPON ISSUES

August — December 1985

(In millions of dollars)

Maturing Issues

June 30,1985

Total

Held By

Federal Reserve

& Government

Accounts

Private

Investors

Foreign

Investorsi/

81/4% Note 8/15/85

9 5/8% Note 8/15/85

131/8% Note 8/15/85

10 5/8% Note 8/31/85

15 7/8% Note 9/30/85

10 7/8% Note 9/30/85

10 1/2% Note 10/31/85

113/4% Note 11/15/85

9 3/4% Note 11/15/85

101/2% Note 11/30/85

14 1/8% Note 12/31/85

10 7/8% Note 12/31/85

4,837

3,293

7,487

9,073

3,961

8,858

9,062

3,087

6,986

9,079

3,430

9,101

1,624

94

1,558

717

604

486

942

9

605

759

171

600

3,213

3,199

5,929

8,356

3,357

8,372

8,120

3,078

6,381

8,320

3,259

8,501

430

320

659

622

580

646

771

351

508

492

415

439

Totals 78,254 8,169 70,085 6,233

U 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 July 30. 1985-12
TREASURY MARKETABLE MATURITIES

Privately Held, Excluding Bills

$Bil.

10

8

6

4

2

0

10

8

6

6.2

I 8.2

m I 113.2 ^

I I

5.0

1" %

5.4

1.7

2.6

5.9

8.7

I 6.3

4.7

2.9

1989

7.0

4.6

6.2

I 1

1990 10.8

4.9

1991

I

5.3

2.3

1992 6.3

2.1

1993

7.6

1994

7.9 9.1 1995

5310.3

I I

5.0 5.1

I 55.7 2.3

4.1

I1"

7.2

I

1.4

J J A S O N D

WM Securities issued prior to 1983

^9 New issues calendar year 1983

J F M A M J

E23 New issues calendaryear 1984

HI Issued or announced through July 26

J A S O N D

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis 1985 July 30, 1985-5
$Bil.

0

0

0

0

2

0

2

0

2

0

6

4

2

0

8

6

4

2

0

6

4

2

0

0

2

0

2-

0

2.2

1.5

1.7

2.9

12.7

TREASURY MARKETABLE MATURITIES

Privately Held, Excluding Bills

1996

1997

-5 1998

-a 1999

2000

1.7 2001

2002

2003

3.2

2004

3.7

63 2005

2006

2007

2008

.2.5

.2.4 1.6

.2.6

3.5 1"

8.3

4.0

4.5

1.2

1.4 I

3.6

$Bil.

2

0

2

0

2

0

8

6

4

2

0

12

10

8

6

4

2

0

4

2

0

10

6-

4

2

0

1.8

11.8

39 2009 I

1.9 2010

3.7 I

2011

2012

2013

^4.8 2014

I

2015

13.4

I

4.1

• 4.4

JJ10.3

I 12.6

4.8

Is-3

JFMAMJ JASOND JFMAMJJASOND

Securities issued prior to 1983

Office of the Secretary of the Treasury rwi •.• i _. *nnn Office ofGovernment Finance &Market Analysis tOB NeW ISSUeS Calendar year 1 983

£22 New issues calendar year 1984

HI Issued or announced through July 26,1985 July 30, 1985-6
STRIPS PROGRAM

Security Issue Date Total Issued Amount Stripped

$ Millions as of 7 / 26 / 85

115/8% 11/15/94 11/15/84 6,659 384

111/4% 2/15/95 2/15/85 6,934 461

111/4% 5/15/95 5/15/85 7,127 616

115/8% 11/15/04 10 / 30 / 84 8,302 4,074

113/4% 11/15/14 11/15/84 6,006 1,018

111/4% 2/15/15 2/15/85 12,668 4,058

12 % 5/15/05 4/ 2/85 4,261 *

10 3/4% 8/15/05 71 2/85 4,513 * *

* Eligible for STRIPS November 16, 1985

** Eligible for STRIPS February 18, 1986

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis July 30,1985-19
NET NEW MONEY IN AGENCY FINANCE, QUARTERLY

Privately Held

- FCA

III I

FHLB^

I

GNMA

Mortgage-Backed

Securit es

lllilill

$Bil.

2

0

-2

18

16

14

12

10

8

6

4

2

0

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

1981 1982

12

10

8

6

4

2

0

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

1983 1984 1985

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

1983 1984 1985 1981 1982

*Less than $50 million. e Partly estimated.

U Includes FHLB discount notes, bonds, and FHLMC discount notes, debentures

certificates, mortgage-backed bonds, and mortgage participation certificates. July 30, 1985-20
SCHEDULE OF ISSUES TO BE ANNOUNCED

AND AUCTIONED IN AUGUST 1985^

Monday Tuesday Wednesday Thursday Friday

1

Auction

52 week

2

5 6

Auction

3 year ^

7

Auction

10 year-^

8

Auction

30 year*/

9

12 13 14

Announce

2 year

15 16

19 20

Announce

5 year

21

Auction

2 year &

22 23

Announce

52 week

26 27 28

Auction

5 year &

29

Auction

52 week

30

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

i'Does not include weekly bills

-^ For settlement August 15

si For settlement September 3

-^ For settlement in early September

July 30, 1985- 13
SCHEDULE OF ISSUES TO BE ANNOUNCED

AND AUCTIONED IN SEPTEMBER 1985 ^

Monday Tuesday Wednesday Thursday Friday

2

Holiday

3 4 5 6

9 10 11

Announce

2 year

12 13

16 1 7 Announce

4 year

7 year

20 year

18

Auction

2 year-^

19 20

Announce

52 week^

23 24

Auction

4 year-^

25

Auction

7 year-*/

26

Auction

20 year &

27

30

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

-i/Does not include weekly bills

i/For settlement September 30

-2/For auction October 1 and settlement October 3

4/For settlement in early October

July 30, 1985-14