TREASURY MARKETABLE MATURITIES
Privately held, Excluding Bills

] 2002

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MMMM Securities issued prior to 1994. [J] New issues calendar year 1995
Deparment o te Tras FEB new issues calendar year 1994 [Ea] Issued or announced through January 26, 1996
Ofce otMarvet Frees January 28, 1996-27
TREASURY MARKETABLE MATURITIES
Privately held, Excluding Bills
cs 2005 22 aE 5 2045 | «¢
BE wy y 2b ge
RE gy i, o£ ‘as Be og 2015
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JFMAM J J AS ON OD JoFMAM J J AS OND
TM Securities issued prior to 1994 New issues calendar year 1995
EEG New issues calendar year 1994 EES] Issued or announced through January 26, 1996

Dopartnant the Tsasury
Offos of Maret Franc January 2, 1966-28


TREASURY NET BORROWING FROM NONMARKETABLE ISSUES
$Bil. $Bil.

Savings Bonds

[state and Local Series

| | Foreign Series $9

44 ! L ! Ey,
' i mW ! I mow ' Mt WoW 1 i mW ih
1992 1993 1994 1995 1996
o estimate

Deparment te Teamy
(Ofts of Marat Farce aruary 28, 1006.0

SALES OF UNITED STATES SAVINGS BONDS
1980 - 1995

‘$Bil.

Total Sales

Payroll Sales
4

py
1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995

End of Quarter
e estimate

Deparment ft Tmaury
en of Mec Fear, January 28, 1090-10


LONG TERM MARKET RATES

Quarterly Averages

%

%
12
New Aa Corporates W
10
Through
January 24
9
HN
a}
fl Mm, +18
om
Mast Mh,
,
7 e i |7
30-Year 30-Year ‘ny sh
Treasury Municipal Bonds af ( ian) le
6 “atl My
I i | 1

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995

Deparment of te Teseuny
‘Ofc of Market Pane

INTERMEDIATE TERM INTEREST RATES

Weekly Averages*

1996

anwary 20, 1996:18

% %
roe
al. ‘\ FHLMC 30-Year ls
~- Conventional 74 Through
s Sa ‘. January 24
Ny
ee! mes |
7 See
AA 10-Year Industrial Nae
7 [tty Seen,
iy
6} Se nscnaRfeasury 10-Yeai 6
My
iF un
NN Cores
Treasury 5-Year
\
5 Apr May Jun Jut Aug Sep Oct Nov Dec Jan
1995 1996
* Salomon 10-yr, AA Industrial is a Thursday rate.
uprima t Tes

Otten os Marit nance

anry 29, 1996-20


QUARTERLY CHANGES IN FOREIGN AND INTERNATIONAL
HOLDINGS OF PUBLIC DEBT SECURITIES

SBil. $Bil.
65}— Nonmarketable {65
60 &3 —|60
55}— Marketable {55
50}- Net Auction Awards to Foreign 1/ 150
45 |- Il Other Transactions 45
40;— YY, oa} 40
35; 35
30}- 30
25}- 25
20;- 20
15|- 15
10}go 10

SHA 5
0 -_ mo
5 7 5
10 }- ={-10
ts | | , rs
rou veorohom vot ot om wor nom wor on om Wey
1991 1992 1993 1994 1995
1/ Auction awards to foreign official purchasers netted against holdings of maturing securities.
2/ Data through November 30, 1995.
Sto hana Parcs” aru 20,106.13

FOREIGN HOLDINGS AS A PERCENT OF TOTAL
PRIVATELY HELD PUBLIC DEBT

Percent Percent

SSR SSEE EERE EER
1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995

Quarterly

4

Depararart tte Traasy
(Ofc of Manet Fares arom 20, 1006-14


STATE & LOCAL GOVERNMENT SERIES

$Bil, 5 $Bil.
10 --
oi meer Gross Issues ae
Redemptions
out tt es eG Liy
$Bil. SBil.
0 O
5 45
=== Net SLGs
ee ee Jt | | 10
foot wot on om Ww ot on om v tono vtooa
1991 1992 1993 1994 1995
Note: SLGS sales were suspended effective October 18, 1995.
apart tt Teeny
(tse erat Pance ancy 29, 100011
STATE AND LOCAL MATURITIES 1996-1998
‘S$Bil.
48
~4é
4
2
0
1996 1997 1998
Emer end nun 29, 1908:82



SHORT TERM INTEREST RATES

Quarterly Averages

% %
Prime Rate Through
January 24
10 — 10
8 48
6 46
3 Month
4} Treasury Bill l4
pitiritivitiiitivitiriiir itr te ttt
1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996
Deparont 0 Tews
fone Meret Finan cary 29, 196:17
SHORT TERM INTEREST RATES
Weekly Averages
% %
9 or +9
. Le
Prime Rate
8y- +8
7 Through _|
January 24
Federal Funds
Commercial
Treasury Bill
| j \ j \ 1
gob tb,
Apr May Jun Jul Aug Sep_— Oct. Nov Dec Jan
1995 1996

January 28, 1996-18


oy

TREASURY FINANCING REQUIREMENTS

October - December 1995

SBil. T SBil.
Uses 158, Sources
150 150
125 }- —1125
Coupon Maturities SEP @ Coupon Refunding
100 1100
Savings Bonds
State and Local 5
in + nA ue
ao —
50
Net Market
ay Borrowing
Poeticit los
Decrease in Cash Balance > |
0

‘VIncludes budget deficit, changes in accrued interest and checks

outstanding and minor miscellaneous debt transactions.

Depart Tray
Oo hownat ace aruay 28,1006
TREASURY FINANCING REQUIREMENTS
January - March 1996
SBil T $Bil.
Uses 220% Sources
200)- —| 200
Coupon Maturities @ Coupon Retunding
150 150
State and Local Savings Bonds
| 4 .
uy 8 1% iy
oll
| Net Market 1 50
50 /s
«< Deficit + Borrowing » 85 4
0 0
“includes budget deficit, changes in accrued interest and checks
outstanding and minor miscellaneous debt transactions.
4 Issued or announced through January 26 1996.
cre 2/ Assumes a $20 billion cash balance March 31, 1996.
os Marat Pee

arvsry 28, 1006-2


PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT

Percent Distribution By Maturity

Coupons (1 over 10 years 1-2 years Bi sis
2 2-10 years Gi 1 year & under

100% }—-
14

° 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995
As of December 31
Depareer ot Treasury
(Oce of Mana rnc anuary 29, 19825,

AVERAGE LENGTH OF THE MARKETABLE DEBT

Privately Held

Years < June 1947
10 Years Months
5 Months

December 31, 1995
5 Years, 3 Months

December 1975
2 Years
5 Months

Litt Litt tives
4945 47 49 51 53 55 57 59 61 63 65 67 69 71 73 75 77 79 81 83 85 87 89 91 93

Deparment fhe Treasury
(foe of Mert France avery 29, 109826



MARKET YIELDS ON GOVERNMENTS

% q%
6.0 |— enews en en on co one
on
a co
sal October 30, 1995 pecee eo alee
mel

oe
oe _— a
a eee —— 756
f

5.4t9 —" 5.4
— + 5.2

5.2 ee ee a
64 em mae

5.0/—- - joer ale _|5o
. : wr
}.

January 29, 1996

ee

48 ra 0 | 4.8
— {58

4.6 |- se 146
541g 48 [18 18 po 22 2 26 28 ["*

44 : i 44
to) 1 2 3 4 5 6 7 8 9 10
Years to Maturity
Stee anattree” ry 36, 100625
PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT
BY MATURITY
$Bil. — 2901.4]

2800 |- im Over 10 years

417.6
Ets 2-10 years
2400 |—

2200 |- 1-2 years

Oy 1 year & under

oO
1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995
As of December 31
Depart Trosery

(Ooe of Markt Finance danny 29, 1008-22


MAJOR FOREIGN HOLDERS OF TREASURY SECURITIES

December 31, 1989 December 31, 1994 November 30, 1995
T Asa%ot |Asat%of Asa kot |Asa% of Ase%ot |Asa% of
$Billions | Total | Total ||$ Billions | “Total | Total” ||$Bitions| Total | Total
Country Foreign | Private Foreign | Private | Foreign | Private
Japan $142.7 22.9% 4.7% || $175.7 25.5% 5.5% || $225.1 25.6% 6.8%
United Kingdom 68.4 11.0% 2.2% || 91.0 13.2% 2.9% || 1299 148% 3.9%
Germany | 464 7.4% 15% | 544 7.9% 1.7% || 553 63% 1.7%
Netherland Antilles 17.1 2.7% 0.6% || 27.6 4.0% 0.9% || 522 59% 1.6%
Switzerland 326 6.2% 1.1% || 324 4.7% 1.0% || 356 4.1% 1.1%
Singapore 182 2.9% 0.6% || 219 32% 0.7% || 330 38% 1.0%
Mainiand China 46 0.7% 02% | 205 30% 06% || 315 36% 09%
OPEC 26.7 4.3% 09%) 256 37% 08% || 29.3 3.3% 0.9%
Canada 228 3.7% 0.7%)| 246 36% 08% || 25.0 28% 0.8%
Taiwan 28.2 45% 0.9% || 25.8 3.7% 08% |) 236 27% 0.7%
Spain B12 6.0% = 1.0% || 27.9 4.1% 0.9% 19.7 2.2% 0.6%
Hong Kong 13.7 2.2% 0.4% || 138 20% 0.4% || 188 21% 06%
Mexico 232 3.7% 0.8% 79 14% 02% || 166 19% 0.5%
Belgium 12.0 1.9% 0.4% || 131 1.9% 0.4% 147 1.7% 0.4%
France B89 1.4% 0.3% 97 1.4% 0.3% 93° 11% 0.3%
Other 126.2 20.3% 41% 116.7 16.9% 3.7% 158.6 18.1% 4.8%
Estimated
Foreign Total 622.9 100.0% 20.4% || 688.6 100.0% 21.7% || 8782 100.0% 26.4%
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
Department of the Treasury syatem darery 29, 1906-15.
hoe hate Panes

NET AWARDS TO FOREIGN OFFICIAL ACCOUNTS “

‘$Bil. $Bil.
10 +10
5 5
oO 0
5 5
-10 4-10

Notes
5 years and over
| EEE3 2-3 years _|.
US Bills uo
=
18.6 ©
aa L i | “
co ton om wv ton mv ton ui tonomw tu mv 12 oO
1991 1992 1993 1994 1995 1996
Quarterly Totals.
4/ Noncompetitive awards to foreign official accounts held in custody at the Federal Reserve in
‘#xcess of foreign custody account holdings of maturing securities. Foreign add-ons prohibited
since October 18, 1995 to avoid exceeding the debt limit.
Onsanatrroce” — 2/ Through January 26, 1996, ana 29, 1006-16



SECURITIES HELD IN STRIPS FORM 1994-1996

Privately Held
SBil, $Bil.

Strippable Stripped
EB 4s of January 31, 1994: $694.9 billion, $210.3 billion

80 |- YA As of January 31, 1995: $760.5 billion, $226.9 billion y — 80

As of January 19, 1996: $802.5 billion, $222.6 billion

60

20 20

* Z 4
Less than5 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 February 1985. The 11 5/8% note of November 15,
1994, issued on November 15, 1984, was the first STRIPS-eligibie security to mature.

Deparment ote Trassry * Less than $3 million.
(Once of Maret Faron any 20, 10067

SECURITIES HELD IN STRIPS FORM 1994-1996

Percent of Privately Held

%

Colm BB 4s of January 31, 1994

As of January 31, 1995

2 As of January 19, 1996

5 Z Yy
Less than 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 February 1985. The 11 5/8% note of November 15,
1994, issued on November 15, 1984, was the first STRIPS-eligible security to mature.

Deparmeot on Testy * Less than 1 percent.
(Ontos thr Parc dnnuery 29, 19068


TREASURY MARKETABLE MATURITIES

Privately held, Excluding Bills

SBil

2020 ek 2023
ar |
Be |

BE ge os Be
H af
iE =
H = |
BE 2021 wo 2024 7)
E i
F
i |
gE
2
3 T
; 2025
‘ 107 15 i8 |
Lid He
2 | | |
a
gE 2022 | 2026 l
aE
BE
gE
BE 00 te
of
se
fc ge
36 fe |
“TF MAM J J AS OND JF MAM JJ AS OND

I Securities issued prior to 1994 New issues calendar year 1995

[BZ new issues calendar year 1994 EEE] Issued or announced through January 26, 1996

——

Otic of Marea Finan

SCHEDULE OF ISSUES TO BE ANNOUNCED AND AUCTIONED
IN FEBRUARY 1996”

Monday Tuesday Wednesday Thursday Friday
. 2
Auction
52 week2/
5 ; 9
Auction Auction Auction
3 year?/ 10 year¥ 30 year Y
12 13 14 15 16
19 20 1 Announce 22 23
Announce
Holiday 2 year
5 year 52 week
26 5 28 29
Auction Auction Auction
2yearY 5 yeart/ 52 week®/

Deparment of he Tossury
Ooo of Marte Fanon

-/ Does not inciude weekly bil
2/For settiement February 8
For settlement February 15
4/For settioment February 29
5/For settlement March 7

ls

enuary 3, 1906-90

tauary 29, 196829


NET NEW CASH FROM NONCOMPETITIVE TENDERS IN
WEEKLY BILL AUCTIONS ”

SMil, Discount Rate %
500 lon Net New Caah (left scale) Discount Rate (right scale) 7165
£5 26 week
400 13 week 13 week 6.0
300
5.5
200
100 5.0
O
-100 F
200
-300
27) eran Leilani horn Gren ieroned herd benrulnnin nl inne Wann ine
van Feb = Mar = Apr May = Jun Jul.» Aug. «ss Sep. Oct’ «Ss Nov-Dec Jan?
1995 1996
Y/ Excludes noncompetitive tenders from foreign official accounts and the Federal Reserve account.
Deparoreet ofthe Treasury P Preliminary,
(neo Marat ance any 28,9985

NONCOMPETITIVE TENDERS IN TREASURY NOTES AND BONDS”

‘SBil, ‘SBI.
35 (2712 &5 Year ] j _tI3s
Gs, 10 & 30 Year 11
3.0}- 3.0
2.5/- = / | H +25
2.0/- j f 42.0
| HH |
1.5/- | H 15
1.0}— f 1.0
0.5}- | ] Hf 0.5
LAL | | ;

TEMAMYSASOND JF MAMI SA SON D Je

1994 1995
ve Excludes foreign add-ons from noncompetitive tenders. Since October 18, 1995, foreign add-ons have been prohibited
10 avoid exceeding the debt limit, foreign rollovers are also excluded from noncompetitive tend Preliminary

Tress merase he msirursnoncompetive ena any nacompiv bier $8 mien etecie Novena 1991

Effective February 11, 1982, « noncompetitive bidder may not hold @ position in WI trading, futures, or forward contracts,
‘nor submit both competitive and noncompetitive bids for is own account.

Depart ot Tsay
Ofcs of at Fran anaaty 29, 10068


TREASURY OPERATING CASH BALANCE

$Bil, Semi- Monthly

Tax and Loan Total 0} i
Accounts Balance! be ne
4

.
.
.
t) aad -
Federal Reserve Account ‘ }
.
-20 ‘
-49
.
.
.
-60 ;—- Oe
-80 L | | | i ! | i ! L ! ! !
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
1995, 1996
¥, ‘Assumes refunding of maturing issues.
apart of Toanty
(roe arc ary 20,1063
aT TREASURY NET MARKET BORROWING “ Bi
il. il.
Coupons
Over 10 yrs. dhe
ie £5] 5- to yrs. 2/
84.6 2- under 5 yrs 4
80 4 80
1
1
60 +{60
:
40 +{ 40
20 20
0 0
-20 -20
! ! I
ed | homo wil nom wet nom owt Woot
1992 1993 1994 1995

A, Excludes Federal Reserve and Government Account Transactions.
7 year note discontinued after April 1993.
3/ Issued or announced through January 26, 1996.

apateat ot he Troany
One ot Marte nance

ast 20,10964


MATURING COUPON ISSUES
February - June 1996
(in millions of dollars)

December 31, 1995
Heid by
Maturing Coupons Total Federal Reserve
& Government Private Foreign1/|
Accounts Investors | Investors

87/8% Note 02/15/96.2/ 8,575 616 7,959 374
7 7/8% Note 02/15/96 9,055 1,427 7,628 679
45/8% Note 02/15/96 19,537 3,828 15,709 630
7112% Note 02/29/96 9,622 1,256 8,366 435
45/8% Note 02/29/96 18,949 448 18,501 2,479
73/4% Note 03/31/96 9,081 1,119 7,962 555
5 1/8% Note 03/31/96 19,579 1,980 17,599 1,955
93/8% Note 04/15/96 7,782 787 6,995, 647
75/8% Note 04/30/96 9,496 926 8,570 786
5 1/2% Note 04/30/96 18,806 800 18,006 2,685,
7 3/8% Note 05/15/96 20,086 2,074 18,012 1,155,
41/4% Note 05/15/96 19,264 2,228 17,036 3,557
75/8% Note 05/31/96 9,617 393 9,224 1,312
57/8% Note 05/31/96 18,927 753 18,174 4,574
77/8% Note 06/30/96 9,770 412 9,358 574
6 % Note 06/30/96 19,859 1,765 18,094 4,784

Totals 228,005 20,812 207,193 27,152

1/ FRB. custody accounts for foraign official institutions; included in Private Investors.
2/ Includes $125 million of foreign targeted Treasury note,

Deparimont of ha Transuny
(Ofc of Masta Finance

a
2

TREASURY MARKETABLE MATURITIES

Privately held, Excluding Bills

arumry 29, 1096-25

35.0 1996
p

275

BREREERLEE omanadSHessSBVBBSRERS

moSBRaS:

one

M

A M J
HB socuritios issued prior to 1994
EE New issues calendar year 1994

J A

Ss °

[ZZ New issues calendar year 1995

Issued or announced through January 26, 1996

ssenuary 20, 190628


SCHEDULE OF ISSUES TO BE ANNOUNCED AND AUCTIONED
IN MARCH 1996”

Monday Tuesday Wednesday Thursday Friday
1
4 5 6 7 8
WW 12 13 14 15
18 19 20 21 22
‘Announce Announce
year 52 week
5 year
25 26 27 j 29
Auction ayaa
2 year: and 52 week
Y Does not inciude weekly bills
2 For settlement April 1
_Y For settiement April 4
Daprmart th Trey
Ota att Poe Janay 3, 108631

SCHEDULE OF ISSUES TO BE ANNOUNCED AND AUCTIONED

IN APRIL 1996”
Monday Tuesday Wednesday Thursday Friday
1 2 3 4 5
8 9 10 "1 12
15 16 17 18 19
Announce Announce
2 year 52 week
5 year
22 23 24 25 26
Auction Auction Auction
2yearY 5 yearY 52 week¥
29 30

Deparment he Treasury
Often of artet Parcs

-/ Does not include weekly bills

2 For settiement April 30
For settiement May 2

January 3, 1906-22