$Bil.

70

60

50

40

30

20

10

0

TREASURY FINANCING REQUIREMENTS

April-June 1984-^

Uses

Coupon Maturities

Foreign

Nonmarketables

VA

4 Cash Deficit

61 y2

Sources

Coupon Refunding

Savings Bonds

V4 2

State a Local

Net Market Borrowing ^

1/Includes the 2 and 4 year notes which settled April 2, 1984;

excludes the 2 and 4 year notes which settled July 2, 1984.

Officeof the Secretary of the Treasury

Office of Government Finance &Market Analysis

Decrease

in Cash

Balance

y2

$Bil.

70

60

50

40

30

20

10

July 31, 1984-13
$Bil.

70

60

50

40

30

20

10

0

Increase

in Cash

Balance?/

TREASURY FINANCING REQUIREMENTS

July-September 1984-J/

Uses

State & Local

3/4

Coupon . |

Maturities WI

1V4

Foreign

Nonmarketables

4 Cash Deficit

65%

Sources

4 Coupon Refunding

3/4

Savings Bonds

Net Market

Borrowing -^

443/4

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

J/ Includes the 2 and 4 year notes which settled July 2, 1984;

excludes the 2 and 4 year notes settling October 1, 1984.

.2/Assumes $20 billion cash balance September 30, 1984.

3/ Issued or announced through July 27, 1984.

$Bil.

70

60

50

40

30

20

10

July 31, 1984-18
$Bil.

40

30

20

10

0

TREASURY OPERATING CASH BALANCE

Semi-Monthly

—

•«-Without New •*•

Borrowing _!/

TotalaJk

Operatlng*l\ ^ Balance I \^

Tax and Loan ft

Accounts Balanced

— "v / \ f ' \ mfk X/sJ * \ / \ Jill

1 X \I* ' n i f

•-.

Federal Reserve Account

1 1 1 l 1 1 1 1 1 1 1 1

\ / • •

• •

V

1 1

-20-

-30

Jul Aug Sep Oct

1983

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

Nov Dec Jan Feb Mar Apr

j/Assumes refunding of maturing issues

May

1984

Jun Jul Aug Sep

July 31, 1984-17
$Bil.

60

50

40

30

20

-20

TREASURY NET MARKET BORROWING^

COUPONS

•Over 10 yrs

gaO-10 yrs.

BILLS

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

1980 1981 1982 1983

-VExcludes Federal Reserve and Government Account Transactions.

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

$Bil.

1984

July 31, 1984-16
TREASURY NET BORROWING FROM NONMARKETABLE ISSUES

$Bil.

-4.2

-6.6

Savings Bonds

State & Local Series

Foreign Nonmarketables

-4.0

1

I II III IV I

1980

II III IV

1981

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

I II III IV

1982

e estimate

5.9

I II III IV

1983

$Bil.

--4

6

-8

1984

July 31, 1984-15
QUARTERLY CHANGES IN FOREIGN AND INTERNATIONAL

HOLDINGS OF PUBLIC DEBT SECURITIES

$Bil. i $Bil.

Nonmarketable

10-

Marketable

0 Add-ons"

•Other Transactions

-3.8

•10

I II III IV

1980

-5.8

I II III IV

1981

II III IV

1982

I II III IV

1983

J/ 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.

21 Partly estimated.

* Less than $50 million.

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

--5

I 11^

1984

•10

July 31, 1984-8
FOREIGN HOLDINGS OF TREASURY SECURITIES

$Bil.

175

150

125

100

75

50

25

0

Foreign Holders ('eft scale):

• Official

• Other

Percent Foreign

Holdings of Total

Public Debt (right scale)

1974 75 76 77

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

78 79 80

As of December 31

p preliminary

%

166.3 167.8

17

149.4 16

15

14

13

12

11

81 82 83 Jun 84 P

10

July 31, 1984-22
SMIL

500

400

300

200

100

0 KS9

ACCEPTED FOREIGN TENDERS IN TREASURY

NOTE AND BOND AUCTIONS

October 1983 - May 1984

B Foreign Official

(29 Other Foreign

^

rrr^ii

^a r1 ssa §aU

i

Years to Maturity 7 20 2 3 10 30 2 5 2 4 7 20 2 3 10 30 2 5 2 4 7 20 2 3 10 30

Issue Date 10/5/83 11/15/83 12/1/83 1/4/84 2/15/84 3/5/84 4/4/84 5/15/84

10/31/83 11/30/83 1/3/84 1/31/84 2/29/84 4/2/84 4/30/84

$Mil.

500

400

300

200

-100

0

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis July 31, 1984-24
%

SHORT TERM INTEREST RATES

Monthly Averages

8

•^•/"Commercial

\ / Paper

V

1980

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

1981

,•••••••• ••••'

1982 1983

Through

July 27

1984

%

20

18

-116

14

12

10

8

6

July 31, 1984-10
%

13

12

8

SHORT TERM INTEREST RATES

Weekly Averages

Prime Rate

Federal Funds

•••—^'•••••••••# •••••• •••••••X

Oct Nov Dec

1983

Jan

Commercial

Paper

3 Month Treasury Bill

Through

week ending

July 25

Feb Mar Apr May Jun

1984

Jul

%

13

12

8

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

July 31, 1984-9
%

19

17

15

13

LONG MARKET RATES

Monthly Averages

New Conventional

Mortgages

NewAa // \ „->^'\ Corporate*/ / \J \..,^\

\\ / \ A*yJ

// A // / * * / ..♦•

"A

11

1980

•-. .•••• -TM"

/ y 20-Year

Municipal Bonds

11

1981 1982

1_LL

Through

July 27

Treasury 20-Year,,**.

;',,%«.L.. ...*••••——-—••••'

n Mill

1983 1984

%

19

17

15

13

11

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis July 31, 1984-12
%

15

INTERMEDIATE AND LONG MARKET RATES

Weekly Averages

Through week ending

July 27

I

/—"^~\ y Treasury ^ / A 10-Year

---^—*'

>"»**

Treasury

5-Year

Municipal Bonds

20-Year

1 Mill 1 I I I 111 I I I 1 1 1 I I III I I 1 II I I I

Oct Nov Dec Jan

1983

Feb Mar Apr

1984

May Jun Jul

%

15

14

13

12

11

10

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis July 31, 1984-11
MARKET YIELDS ON GOVERNMENTS

Bid Yields

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

4 5 6

Years to Maturity

July 31, 1984 21
$Bil.

1000

900

800

700

600

500

400

300

200

100

0

PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT

BY MATURITY

COUPONS

Over 10 years

2-10 years

^1-2 years

1 year & under

BILLS

1973 1974 1975 1976

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

1977 1978 1979 1980 1981

As of December 31

June 30, 1984. 969.3

1982 1983

July 31, 1984-7
PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT

BY MATURITY

100%

90

Coupons g|over 10 yrs ^1-2 yrs Bills

H 2-10 yrs ^ 1 yr & under

11

??st

1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 Jun'84

As of December 31

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis July 31, 1984 4
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

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis July 31, 1984-1
MATURING COUPON ISSUES

August — December 1984

(In millions of dollars)

Maturing Issues

June 30, 1984

Total

Held By

Federal Reserve

& Government

Accounts

Private

Investors

Foreign

Investors!/

7 1/4% Note 8/15/84

13 1/4% Note 8/15/84

6 3/8% Bond 8/15/84

11 5/8% Note 8/31/84

12 1/8% Note 9/30/84

9 3/4% Note 10/31/84

16% Note 11/15/84

14 3/8% Note 11/15/84

9 7/8% Note 11/30/84

14% Note 12/31/84

9 3/8% Note 12/31/84

2,863

4,662

2,171

7,492

11,012

7,890

5,780

6,213

7,571

3,620

8,009

389

887

1,196

643

968

529

1,217

1,097

548

309

606

2,474

3,775

975

6,849

10,044

7,361

4,563

5,116

7,023

3,311

7,403

535

100

908

2,027

1,188

1,143

1,273

612

402

367

Total 67,283 8,389 58,894 8,555

_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 July 31, 1984-14
TREASURY MARKETABLE MATURITIES

Privately Held, Excluding Bills and Exchange Notes

$Bil.

12

10

8

6

4

2

0

14

12

10

8

6

4

2

0

16-

14-

12-

10-

8-

6-

4-

2-

01—

20-

18-

16-

14-

12-

10-

8-

6-

4-

2-

7.7 8 27.8

10.0

8.7^8.5

I

1

148

I

11.9

12.4

m 8.4 <?, 8.7

6.2

I

1984

1986 14.2 ' 14.3 13.3

»| 13.2

1 I 1 1

1987

12.6

| 6.1

1 4.0

6.2

I

6.9

10.7

118

5.6

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

^B Securities issued prior to 1982

ESS New issues calendar year 1982 Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

5.0

2.7

6.2

-3.4

1

-4.8

$Bil.

8

6

4

2

0

8

6

4

2

0

8

6

4

2

0

4

2

0

8

6

4

2

0

12

10

8

6

4

2

0

5.5

8-

6-

2.6

8

63

1

- 2.9

6.1

2.8

8.2

3.3

5.0

1988

62M

3.4

1989

4.6

1990

4.9

6.3

1 26

1 • 54 1991 5.5

1.7

8.7

I

4.7

5.5

1992

1993

1994

2.3

2.2

7.6

I

1.5

8.3

42 3.8

5.0 5.1

I

2.3

4.1

12.1

53

I

1.5

J FMAM JJ ASO

INew issues calendar year 1983

^M Issued or announced through July 27, 1984

N D

July 31, 19846
TREASURY MARKETABLE MATURITIES

Privately Held, Excluding Bills and Exchange Notes

$Bil. $Bil.

2

0

0

0

0

0

2

0

2

0

2

0

6

4

2

0

4

2

0

2

0

1.6

2.1

1.5

1.7

SSI

— 3.0

2.7

2.6

.5

1995

1996

1997

1998

1999

2000 2.5

• 17 2001 24

2002

2003

3.2 3.5

37 2004 19

2.1 2005

2006

2007

1.4

1.6

2.7

7.2

1.2

J FMAMJJ ASON D

H Securities issued prior to 1982

Office of the Secretary of the Treasury ma *. • __i_ 4 nan Office of Government Finance &Market Analysis B99 New ISSUeS Calendar year 1 9B<2

2

0

2

0

4

2

0

4

2

0

10

8

6

4

2

0

12

10

8

6

4

2

0

6

4

2

0

1.8

2008

| 2009

1.9

3.7

I

4.8

2010

2011

2012

2013

2014

1.4

12.6

3.6

3.4

4.1

I

4.4

10.3

I

JFMAMJJASOND

E^ New issues calendar year 1983

Issued or announced through July 27, 1984 -my 31. im+b
TREASURY PRINCIPAL AND INTEREST PAYMENTS 1995-2014

$Bil. i 1$Bil.

25

20

15

10

Interest

Principal

25

20

15

10

0

1995 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14

0

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis July 31, 1984-23
NET NEW MONEY IN AGENCY FINANCE, QUARTERLY

Privately Held

$Bil.

FCA

ill

GNMA

Mortgage-Backed

Secur ties

I

llllUkl.ll I II III IV

1980

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

1981 1982 1983

i ne III IV

1984

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

1980 1981 1982 1983

I llelll IV

1984

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

*Less than $50 million. e Partly estimated.

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

certificates, mortgage-backed bonds, and mortgage participation certificates. July 31, 1984-2
AGENCY MATURITIES*/

Privately Held

$Bil. $Bil.

20

18

16

14

12

10

8

6

4

2

1984 1985 1986 1987

18.8

-

• l6.9

~

11-711.6

_

1 I9-5 9.9

-

III. 73767.4J • 8.2

—

Mil I 1 —5.2

Mil -

mi III! llll

1989 1990 1991

12 2 2.4 12 • 15^ii«9111-5i QUI15 ill •••• •••• IV I IV I IV I II III IV

1992

h6« L3

1996

.2 .1

2000

2004

1993

3.3

IB 9 1-3 111

1997

1.2 9

• -3 .2 •

2001

.1

2005

.1 .1

1994

1.0

1998

.1 .2 .2 .1

2002

.3

2006

.1 .1

1995

1999

2003

.1

2007

•2 .1

2008 2009 2010 2011

.2 .2 3 .2

2012 2013 2014 2015

.5 .4 .4 .2 *. A -L

2y- 2016

ot I II III IV I

2017 2018 2019

IV I II III IV I II III IV

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

Calendar Years Quarterly

n Securities issued through June 30, 1984.

* Less than $50 million. July 31.1964-3
SCHEDULE OF ISSUES TO BE ANNOUNCED

AND AUCTIONED IN AUGUST 1984 ^

Monday Tuesday Wednesday Thursday Friday

1 2

Auction

52 Week-2/

3

6 7

Auction

3 Year-2/

8

Auction

10 Year ^

9

Auction

30 Year &

10

13 14 15

Announce

2 Year

16 17

20 21

Announce

5 Year

22

Auction

2 Year^

23 24

Announce

52 Week

27 28 29

Auction

5 Year &

30

Auction

52 Week &

31

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

J/Does not include weekly bills

-2/For settlement August 9

J/For settlement August 15

.2/For settlement August 31

-2/For settlement in early September

-2/For settlement September 6 July 31, 1984-19
SCHEDULE OF ISSUES TO BE ANNOUNCED

AND AUCTIONED IN SEPTEMBER 1984^

Monday Tuesday Wednesday Thursday Friday

3 Holiday 4 5 6 7

10 11 12 Announce

2 year

13 14

17 18 Announce

4 year

7 year

20 year

19 Auction

2 year^

20 21 Announce

52 week-^

24 25 Auction

4 year -^

26 Auction

7 year-i/

27 Auction

20 year-i/

28

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

-J/Does not include weekly bills

-2/For settlement October 1

-2/For settlement October 4

-*/For settlement in early October

July 31, 1984-20