TREASURY MARKETABLE MATURITIES

Privately held, Excluding Bills

8

32.4 1995 32.4

SREBBSREE

32.8

F A M J J A Ss ie) N D
MMM Sccurities issued prior to 1993 [77] New issues calendar year 1994
EERE Now issues calendar year 1993 EE] Issued or announced through April 28, 1995.
Deparment of he Tasary
(Ofc Marat hance ay 4109627
TREASURY MARKETABLE MATURITIES
Privately held, Excluding Bills
Bil Bil
0 Fare Bi Bn, 1997 .., 23 22 2001
bs Br
2
is 248
ae
BS
ie
a 132 y
;
a é
6 2 =
——
# 1998 .
2 2 2002
Sl m8 30
ns SE
2 ye
b ai ea
oe 2
aE aE
% [— nN2 spe tol 18 to
2 oF
‘ 6
é Ewe 2a
: 2003
SC ay
2
oe
2
° 18
rt T
Ene wo 2: wz, 2000 ie
Bhapish © li | tos ‘or 8
8 3 99
6 6
iL it 1d ‘ i
ial j
J oF MAM J J AS ON D J oF MAM J JS AS ON D

HI Socurities issued prior to 1993 New issues calendar year 1994

Depart  Tsasry BEB Now issues calendar year 1983 £2] Issued or announced through April 28, 1995,
Bore

tice oma

May 9, 1905-28


NONCOMPETITIVE TENDERS IN TREASURY NOTES AND BONDSY

‘$Bil. ‘SBil.
5
asl MM 7 Year [| Bigg
2&5 Year 1 1
BEB 3, 10 & 30 Yer j
3.0/- 30 Year 4H 7 +430
7 H HAY
25 4 H 2.5
2.0}- —|2.0
|
1.5}- tl i 15
1.0/4 1.0
05- i 05
| 4 L 0
AMJJASONDJFMAMJIJAS OND DEM AP
1993 1994 1995
2 Excludes foreign add-ons from noncompetitive tenders P Preliminary
‘Treasury increased the maximum noncompoiive award to any noncompetitive biddor to $5 milion effective November 5, 1991
Effective February 11, 1992, a noncompetive bidder may ot hold a postn in Wi wading, ute, or forward contract,
fot submit both compative and roncompttive bs for as own account
Ott rtnnat france” ay 108-8
SECURITIES HELD IN STRIPS FORM 1993-1995
Privately Held
$Bil, $Bil.
Strippable Stripped
Il As of April 30, 1993: $646.9 billion, $178.0 billion

As of April 30, 1994: $721.1 billion, $221.2 billion Lie 80
EB As of April 21, 1995: $778.6 billion, $226.4 billion

40

20 20

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 February 1985, The 11 5/8% note af Noveriber 18,
1994, issued on November 15, 1984, was the first STRIPS-eligible security to mature.

O
Less than 5 years

Deparmant of th Tommy
Oew of ret Pearce May 1995-40



SHORT TERM INTEREST RATES

Weekly Averages

| %y %
o-— 9
Bl—

Through
7 Commercial April 26

6K
5 Treasury Bill 5
jFederalFunds | | |
Jul Aug Sep Oct Nov Dec Jan Feb Mar_~— Apr
1994 1995
Deparment he Twauy
Offee of artt France May 3, 1985-18

LONG TERM MARKET RATES

Quarterly Averages

% %
144 i 14
13 iH 13
12 12
New Aa Corporates
"1 W
f Through
yl ay . April 26) 10
i hy i my
9 Mw, i oul HH,
il Wn, hy,
8 ‘wy ade
7 30-vearW 7
Treasury 30-Year
6 Municipal Bonds 6
i i | { |

5
1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995

Departmont ta Treasuy

(fee 2! Maret Pounce May 2, 1995-20


SALES OF UNITED STATES SAVINGS BONDS
1980 - 1995

S$Bil.

o
T

i
| @ Total sates |

I

ab / tw JV Pavel ay

ob

—

1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 95°
End of Quarter
Department of the Treasury © estimate
Stent Panes ays 080
STATE & LOCAL GOVERNMENT SERIES
$Bil, SBil.

mum Net SLGs

a a iM,
| om woot tom wot om wot nom Ww 4
1991 1992 1993 1994 1995

Deparment of a Tnssury
Otic of Maret France Moy, 190514


SECURITIES HELD IN STRIPS FORM 1993-1995

Percent of Privately Held
% %

sob Ml As of April 30, 1993 / 150
[2] As of April 30, 1994
BB As of April 21, 1995

40 40
30 30
20 20
10 10

Less than years 5-10 years 10-15 years 18-20 years 20-25 years 25-30 years
Years Remaining to Maturity
"The 1 814% bond of 11/15/09-14 had $4.9 bilion (privately-held) available for stripping, of which
76% was held in stripped form.
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 9 Tram

(Oce of Marat Prince Mey 1 1905:3

TREASURY NET BORROWING FROM NONMARKETABLE ISSUES

SBil. S$Bil.
8y- 78 35 8
6 6
4 4
2 2
0 O
2 2
4 4
6
E] Savings Bonds
e +8
J State and Local Series
“10; Il Foreign Series 39 10
12 ;- 712
14 i ! L L 14
I nom woot "oom WwooE "oom wey nom MF ue
1991 1992 1993 1994 1995
© estimate
Depart Trany

es of Marat Finance May 3 1005-12


NET AWARDS TO FOREIGN OFFICIAL ACCOUNTS *’

Notes

~4{— [ZZ15 years and over 4-4
EEE] 2-3 years
i Bills 4
6 = 6
| |
6 on mw ton nh ton omw to tt EZ ss
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 seeurties.
Deere othe Train, 2 Through April 28, 1995. Way 1, 1965-17
SHORT TERM INTEREST RATES
Quarterly Averages
% %
Prime Rate
12 412
10 10
8 8
6 6
Commercial
3 Month Paper
4 Treasury Bill 44
ee ee
1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995

Depart 9 Trasry

(Ofna Markt Farce ay 1, 1906-18


TREASURY FINANCING REQUIREMENTS

January - March 1995

SBil. T SBil.
Uses 178% Sources
175 |- {175
150} - +4150
125|_ Coupon Maturities » « Coupon Refunding 125
State and Local Savings Bonds
100 f- os ~4 100
9% y .
75 - 75
ae Decrease in_|
ES Net Market 74 erie to
Pveticit Borrowing Balance
25 | 25
0) 0)
includes budget deficit, changes in accrued intarest and checks
‘outstanding and miscellaneous debt transactions.
Dart Tey
Erie en ay 3.10084
TREASURY FINANCING REQUIREMENTS
F April - June 1995,
$Bil. au $Bil.
feos Uses Mids Sources j420
100 }- 4 100
80] Coupon Maturities >» «< Coupon Refunding —480
60 |— --| 60
State and Local Savings Bonds
40 |. 4 | 40
4% 1%
- 7 Cash
Surplus”
20 Increase i varie 25% “ ~?0
in Cash Balance " Borrowing
° a,
¥/ Assumes a $45 billion cash balance June 30, 1995.
Includes budget surplus, changes in accrued interest and checks
outstanding and miscellaneous debt transactions.
agra Tay
Ocoee

May 3.19062


PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT

; BY MATURITY
on L [J over 10 years March 31, 1995 ————> 2841.5
oe 2-10 years “oe
2400 | —
2200 }~ 1-2 years
2000 }|—
is OD 1 year & under

Ml Bils

i
1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994
As of December 31
Deparoent te Tranty

(Ofc o Marat Finance May 1, 1998-20

PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT

Percent Distribution By Maturity

Coupons [Joverioyears [J 1-2 years Mizis
[1 2-10 years Gl 1 year & under

100% -—-

20

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

As of December 31
Depart fe Treesy
Ofs ot Maret Fiance May 1.10054


INTERMEDIATE TERM INTEREST RATES

Weekly Averages*

% %
hind aera ’
9 FHLMC 30-Year - vy -|9
Conventional pos? Ss. Trough
° Treasury 10-Year . °
-s e+ + ry ry
eS me »
8 8
7 7
Treasury 5-Year
6 ! u 6
Jul Aug” Sep-Oct. ~—SCNov.~—sdDeo Jan Feb Mar Apr
1994 1995
* Salomon 10-yr. AA Industrial is a Thursday rate.
Onpurrat of be Tasty
eerste May, 008.25
MARKET YIELDS ON GOVERNMENTS
% 7 %
January 30, 1995
75 }— | 475
7.0;- “7.0
ce ; |
6.5 }— May 1, 1995 i I | | 7 65
% — %
/ im
‘ |
6.0} 75 | 73 +60
70 | | ro
5.51 | | | 55
| i 6 55 12 7 | 6 18 20 22 24 26 28 | 30°
5.0 ; : : 5.0
cy 1 2 3 4 5 6 7 8 9 10

Years to Maturity

Deparmant of he Tessury .
Offce ot Mart Finance May 9, 1908208


STATE AND LOCAL MATURITIES 1995-1997

$Bil $Bil
13.6 14
412
10
48
6
4
2
0
1995 1996 1997
Onesie” Mer ess
QUARTERLY CHANGES IN FOREIGN AND INTERNATIONAL
sei HOLDINGS OF PUBLIC DEBT SECURITIES sei
il. il.
Nonmarketable
id va 95
31.3
Marketable e003 Wy
30; [2] Net Auction Awards to Foreign 1/ 34 30
25 Other Transactions 7 25
27
20 20
15 15
10 10
5 5
1) O
5 5
1 | i 7
ot t I iow ot i] mooM 4 Wt mow ot I mow 12 10
1991 1992 1993 1994 1995

1/ Auction awards to foreign official purchasers netted against hoidings of maturing securities.
B/ Data through February 28, 1995.

aparenet of th Tamar
France

fen ot Marat May 1, 1905.6


AWARDS IN 52-WEEK BILL AUCTIONS

1994

Calendar Year
"Data through April 27, 1995 auction

Deparment ot Toasty
fon of Marat Fearon May 9, 91008-7

NET NEW CASH FROM NONCOMPETITIVE TENDERS IN

WEEKLY BILL AUCTIONS”
$Mil. Discount Rate %
700 |- —NetNew Cash (lett scale) Discount Rate (right scale) ig aN 465
26 week sevens 26 woek ena

600 6.0
500 5.5
400 5.0
300 45
200 4.0
100 ff 35
0
-100
-200
-300
Peer a a a FT PO PO
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apre
1994 1995

Y Excludes noncompetitive tenders from foreign official accounts and the Federal Reserve account.
aparmect fe Tmesey P Proliminary
los of Manat ance Mey 5205-8


TREASURY MARKETABLE MATURITIES

Privately held, Excluding Bills

|

° vs 2004. | = Ti 2073 we ]
SE ee ; y RE |
ey) | | Re |
oo ———
am T 2005 iE ; a
% | 8
e ae
ee » ez : L i ||
thE : SE |
oe | ae = a a
sE 2006 J #E

‘a 2007 i DE gs |

2E l 2008s ee GE |
:E Lg __2009 Lee | ae a :

3 —1_ mF

a oe) |

a nl |
8 2012 a | oF es 2018 a

E gE

iE | | ME |

° J oF MAM J JS AS ON D JF MAM JJ AS O N D

IMB Securities issued prior to 1993
EEG New issues calendar year 1993

asarment ona Tessury
(Offe o Maret Finance

New issues calendar year 1994
[5] Issued or announced through Apri 28, 1995

Moy 1, 3995-20

TREASURY MARKETABLE MATURITIES

Privately held, Excluding Bills

| 2019 |

TTTTTTT TTT T

2022

SESEBRVT ownow

TTTTTTTT] (TTT TTT Tt

RERBBRE!

10.9

TTTTTTTT

TTTTTTITITT

FMAM J J
I Securities issued prior to 1993
IEG New issues calendar year 1999

e

Deparment ol he easy
Oftco Marat Finance

A SOND

J oF MAM J
[ZZ] New issues calendar year 1994
‘Issued or announced through April 28, 1995

JAS ON D

May 1 806-20



TREASURY NET MARKET BORROWING “

SBil. i
Coupons SBil.
103.5 Over 10 yrs.
100 - EF] s-1oyrs.2/ — -] 100

2-under 5 yrs
Is

{ i ! wr
a 1 MW "ow ot I Wow ot now wot "om woe °
1991 1992 1993 1994 1995
1/, Excludes Federal Reserve and Government Account Transactions.
7 year note discontinued after April 1993.

Sees hanes” Ney 1.19085
AWARDS IN WEEKLY BILL AUCTIONS
(13- and 26-Week Bills Combined)
SMil. SMil.

25,000 25,000

20,000 | 20,000

15,000

yj 15,000
10,000 10,000
5,000 5,000
U) - - t)
1994 1995"
Calendar Year
*Data through April 24, 1995 Auction,
Separoent Trey

(Often of Manat Finance May 1, 10058


E-irbentwe Mey 110953
TREASURY OPERATING CASH BALANCE
$81 Semi- Monthly
il.
60 |— New 9}
Tax and Loan Borrowing 1/|
50 |— Accounts Balance
Total Operating
a Balance
30 +
20
" i / Ne
0 2
Federal Reserve Account
“10 --
-20 f-
-30
i i L ! ! { i ! ! !
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
1994 1995,
assumes refunding of maturing issues.
Depart 0 Tramey

NET MARKET BORROWING
April - June 1995
(Billions of Dollars)

Total 25.8
Done” -15.9
Bills
Regular weekly -16.3
52 week 23
Cash management -9.4
Notes
7 year note -7.0
2 year note 2.2
5 year note 12.0
To Be Done 41.7

Issued or announced through April 28, 1995

(Omen of ant France



AVERAGE LENGTH OF THE MARKETABLE DEBT

Privately Held

Years dune 1947
e
10 Years Months
10 5 Months March 31, 1995
66 a 5 Years, § Months
9 64

8 62
7H
6iF
December 1975
5F | 2 Years
| | 5 Months
4h | |
|
af ; | | |
2 titiiliititiitin ttt
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
operant he Yessy
Ofc of Mare Fina May, 1998.25
MATURING COUPON ISSUES
May - September 1995
(in millions of dollars)
March 31, 1995
Held by
Maturing Coupons
Te Federal Reserve . |
otal & Government Private Foreign1/
Accounts Investors | Investors
57/8% Note 5/15/95 19,152 3,829 15,323. 999
81/2% Note 5/15/95 8,293 273 8,020 286
11:1/4% Note 5/15/95 7,127 798 6,329 55
12 5/8% Bond 5/15/95 1,503 417 1,086 4
103/8% Bond 5/15/95 1,504 126 1,378 201
41/8% Note 5/31/95 17,527 1,227 16,300 2,275
4 1/8% Note 6/30/95 18,164 1,392 16.772 1,934
87/8% Note 7/15/95 6,805 300 6,505 415
41/4% Note 7/31/95 17,183 562 16,621 1,650
83/8% Bond 8/15/95 2/ 4,612 2,219 2,393 46
10 1/2% Note 8/15/95 7,956 1,097 6,859 437
81/2% Note 8/15/95 8,877 866 8,011 953
45/8% Note 8/15/95 18,038 2,911 15,127 922
37/8% Note 8/31/95 17,577 725 16,852 2,592
37/8% Note 9/30/95 17,904 961 16,943 2,206
Totals 172,222 17,703 154,519 14,975

1/ FRB. custody accounts for foreign offcal institutions; included in Private investors.
2/ On Apri 11, Treasury called for redemption at par the 8 3/8% Bonds 1995-00, iesued
‘August 15, 1975.

Deparment ote Fsasuy
(Ofce of Market nares

May 1, 1995.26