$Bil.

350

300

250

200

150

100

50

0

18

FEDERAL AND FEDERALLY-ASSISTED

BORROWING FROM THE PUBLIC

iiij Sponsored Agency Obligations

Guaranteed Obligations-^

Off-Budget Deficit-1/

Budget Deficit-?/

oq 47 34 J9 „• H || m 24

^2'2'Ja

326

1970 '71 '72 '73 '74 '75 '76 '77 '78 '79 '80 '81 '82 '83e '84e

Fiscal Years

J/Adjusted for Federal and sponsored agency purchases of guaranteed obligations.

2/Consists largely of Federal Financing Bank borrowings from Treasury.

3/Adjusted for changes in cash balance and other means of financing,

e estimate Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

$Bil.

350

300

250

200

150

100

50

0

April 26. 1983-22
FEDERAL AND FEDERALLY-ASSISTED LENDING

RELATIVE TO TOTAL PRIVATE BORROWING

1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983e

Fiscal Years

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

e estimate

April 26, 1983-24
$Bil.

90

80

70

60

50

40

30

20

10

0

TREASURY FINANCING REQUIREMENTS

January - March 1 983

Uses

Coupon ,

Maturitiesfr

Foreign

Nonmarketables:

Public Series| V2

Gov't Series

^Cash Deficit

85 Vz

Sources

WCoupon Refunding

1V2 I State and Local

Savings Bonds

Net Market 4

Borrowing w

Decrease in

Cash Balance

$Bil.

90

80

70

60

50

40

30

20

10

0

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis April 26, 1983-20
$Bil.

70

60

50

40

30

20

10

0

TREASURY FINANCING REQUIREMENTS

April - June 1 983

Uses Sources

621/2

Foreign

Nonmarketables

Gov't Series^ 13/,

Coupon

Maturities^ I^Coupon Refunding

Increase in

Cash Balance u

3/4

Public Series

Savings

1 4 Bonds

Vz

State and

Local

^Cash Deficit Net Market ±a0V2<>

Borrowing W*v/2^\

To Be

Done

34 V4

1/ Assumes $20 billion cash balance June 30, 1983.

2/ Issued or announced through April 22, 1983.

\l

Done^

6V4

$Bil.

70

60

50

40

— 30

20

— 10

0

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis April 26, 1983-21
TREASURY OPERATING CASH BALANCE

Semi-Monthly

$bll.

30 •«—Without New-^

Borrowing±f

Tax and Loan f \

20 Accounts Balance^ \ Total k

/ \ Operating /\>\ / ^-\ Balance / ^ \ /*<

*

10 / ^ V

...••••

••...

i'i'iii / \ ((it '"tiimki .«..»»'11"<"""*"»l>.«l»•••^f„^M„...«",,<*, "'-nTM,ra...«nii...ii,1.»im»*"' "*"•" •'«" ' .w"w",,,""""-,„j

•

•

•

•

0

Federal Reserve Account •

•

•

•

•

•

-10

-20 • •

• •

• •

• •

• •

• •

• •

• •

V

-30

, , Ill 1 I

Apr May Jun Jul Aug Sep

1982

Oct Nov Dec Jan Feb Mar Apr

1983

May Jun

AJ Assumes refunding of maturing issues except for $.9 billion of 3'/4% bond maturing June 15.

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis April 26, 1983-19
$Bil.

60

50

40

30

20

10

TREASURY NET MARKET BORROWING^

Calendar Year Quarters

COUPONS

ill Over 10 yrs

800-10 yrs.

BILLS

6M 59.2

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

1979 1980 1981 1982

1/ Excludes Federal Reserve and Government Account Transactions.

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

I II

1983

$Bil.

April 26, 1983-18
TREASURY NET BORROWING FROM NONMARKETABLE ISSUES

$Bil.

0

-2

-4

-8

2.2

gs

I

-1.7

-1.4

-.9

I II III IV

1979

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

85

JSavings Bonds

jState &Local Series

|Foreign Nonmarketables

wm

-.8

-1.4

-2.4

1-2.2 -1.9

-4.2

-6.6

I II III IV I II III IV

1980 1981

e estimate

$Bil.

2.5

.2

wz% va

II

-2.5 --4 -.9

0

-4

- -6

I II III IV I II*

1982 1983

-8

April 26, 1983-17
QUARTERLY CHANGES IN FOREIGN AND INTERNATIONAL

HOLDINGS OF PUBLIC DEBT SECURITIES

$BII.i i$BH.

12

8

0

-4

-8

-12

-16

Nonmarketable

Marketable

g^ Add-ons-^ 8.0 86

• Other Transactions

5.5

2-9 3.6

wn

^g

wm

-1.3

J

-1.6

-3.8

-5.0 -5.8

-13.3

4.4 L8.

-.5

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

1979 1980 1981 1982

-^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. Office of the Secretary of the Treasury

Office ofGovernment Finance &Market Analysis 2] Partly estimated.

'83

12

8

0

-4

-8

-1-12

-16

April 26, 1983-9
CUMULATIVE NET CASH FLOW IN SAVINGS BONDS*/

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

M M J J A

Month of year

1/ Cash sales less redemptions

e April 1983 partly estimated April 26, 1983-8
NEW MONEY FROM NONCOMPETITIVE BIDS IN

TREASURY BILL AUCTIONS AND AVERAGE AUCTION YIELDS

$Mil.

400

300

200

100

0

-100

-200

-300

-400

-500

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

1982 Auction Dates 1983

-VNew money is the difference between noncompetitive bids on the new

office of the secretary of the Treasury issues and maturing bills previously bid noncompetitively.

Office ofGovernment Finance &Market Analysis -i/DiSCOUnt baSIS April 26, ,983~16

New Money -^

(left scale)

1116 Months

•13 Months

Average Auction Yields-^

(right scale)

6 Month Bill

— 3 Month Bill

%

15

14

13

12

11

10

9

8

7
SHORT TERM INTEREST RATES

Monthly Averages

1979

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

1980 1981 1982 1983

April 26, 1983-11
%

16

14

12

10

8

SHORT TERM INTEREST RATES

Weekly Averages

Prime Rate

Through

week ending

April 20

*• / •. " . _ _ t \ _^ ^^""''3^ • • •. . *«•••••....»......... ^^^^esf^H^^^^tfZs**'"**:""" \J \ -. ,.-•••-••-—z^ps^ •••

V •••••• •-.«•• "*• 33 Month

Treasury Bill

Jul Aug Sep Oct

1982

Nov Dec Jan Feb Mar

1983

Apr

%

16

14

12

10

8

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis April 26, 1983-12
%

19

LONG MARKET RATES

Monthly Averages

17

New Conventional

Mortgages

New Aa / *

Corporates* /"%. f^v^^

/A / •••" "> \ \

\\

Treasury 20-Year

1979

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

1980 1981

%

19

17

15

13

11

1982 1983

April 26, 1983-10
%

8

INTERMEDIATE AND LONG MARKET RATES

Weekly Averages

Municipal Bonds

20-Year

Jul Aug Sep Oct

1982

Through

weekending

April 22

Nov Dec Jan Feb Mar

1983

Apr

%

16

15

14

13

12

11

10

-i9

8

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis April 26, 1983-13
» <

MARKET YIELDS ON GOVERNMENTS

Bid Yields

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

5 6

Years to Maturity

April 26, 1983-23
$Bil

PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT

BY MATURITY

800-

700

600-

500

400

300

200

100

0

1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982

As of December 31

COUPONS

' ]Over 10 years

12-10 years

1-2 years

1 year & under

BILLS

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

March 31, 1983^5 795.1

April 26, 1983-4
PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT

BY MATURITY

100%

90

Coupons Qover 10 yrs

H 2-10 yrs

1-2 yrs Bills

1 yr & under

10

1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 Mar'83

As of December 31

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis April 26, 1983-5
AVERAGE LENGTH OF THE MARKETABLE DEBT

Privately Held

June 1947

10 Years

5 Months

Months

March 31, 1983

3 Years

10 Months

i l I i l I I I I I L

J FMAMJ J ASOND

1945 47 49

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

53 55

April 26, 1983-3
MATURING COUPON ISSUES

May - September 1983

(In Millions of Dollars)

Maturing Issues

Outstanding March 31,1983

Total

Held By

Federal Reserve

& Government

Accounts

Private

Investors

Foreign

Investors^/

7 7/8% Nt. 5/15/83

11 5/8% Nt. 5/15/83

15 5/8%Nt. 5/31/83

3 1/4% Bd. 6/15/83

8 7/8% Nt. 6/30/83

14 5/8% Nt. 6/30/83

15 7/8% Nt. 7/31/83

11 7/8% Nt. 8/15/83

9 1/4% Nt. 8/15/83

16 1/4% Nt. 8/31/83

9 3/4% Nt. 9/30/83

16% Nt. 9/30/83

2,573

3,618

4,763

979

3,123

4,607

4,974

4,285

6,670

5,431

2,802

5,268

113

862

525

157

426

490

387

1,086

3,214

643

284

459

2,460

2,756

4,238

822

2,697

4,117

4,587

3,199

3,456

4,788

2,518

4,809

14

644

634

44

520

985

556

260

882

345

830

Total 49,093 8,646 40,447 5,714

jy 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 April 26, 1983-15
TREASURY MARKETABLE MATURITIES

Privately Held, Excluding Bills and Exchange Notes

$Bil.

6

4

2

0

10

8

6

4

2

0

12

10

8

6

4

2

0

10

8

6

4

2

0

8

6

4

2

0

7.8 |^L9

10.2

co 1983 6.7 iVS8! 4.8J4.8 7.3 61 7.2

4.8H4.8

r 9jio-7| 9.3 1984

8-Ll2e, 1 -!- I I ^

ill i ill 1

i

ill!

120 11.0 1985 1"

I

3.9

1

3.1

II g

1986

4.4

m

1

I

7.5

I

ill i

9.5

3.6 3.3

5.7 6.8

5.6

1 6.2 5.5

1987 7.1

4.1

1

FMAMJJ ASOND

^| Securities issued prior to 1981

New issues calendar year 1981 Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

$Bil.

8

6

4

2

0

5.0

g 1

6-

3.5

4.8

2.8

2 I

3.3

U 1988

3.4

2.2

1989

4.7

1990

2.6

3.2 2.3

t£ 3-8

II

5.1

4

2

0

6

4

2

0

4

2

0

10

8

6

4

2

0

8-

6

4

2

0

—

1991

1.7 2.4 2.5

2.6

6.4

8.9

s

1992

1993

4.1

2.4

2.2 1.3

JFMAMJJ ASOND

New issues calendar year 1982

Issued or announced through April 22, 1983 April 26,1983-1
$Bil.

4

2

0

4

2

0

TREASURY MARKETABLE MATURITIES

Privately Held, Excluding Bills and Exchange Notes

2

0

2 —

ol—

2

0

2

0

4

2

0

4

2

0

4

2

0

4

2

0

2.9

1.7

2.1

1.5

1.7

3.0

2.7

3.2

.8

1.7

83

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

1.5

2.5

I

2.5

1.5

1.4

1.6

0

2.8

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

Securities issued prior to 1981

New issues calendar year 1981 Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

2

0

2

0

2

0

4

2

0

4

2

0

4

2

0

4

2

0

4

2

0

6

4

2

0

2

0

2.7

1.8

2.1

•

2004

2005

2006

2007

2008

?-9 2009

I

2010

1.9

3 8 2011

2012

2013

1.4

1.2

3.6

I

3.4

I

4.2

4.4

1

6.5

JFMAMJJASOND

p^JNew issues calendar year 1982

1111 Issued or announced through April 22, 1983 Apri| 26,1983-2
NET NEW MONEY IN AGENCY FINANCE, QUARTERLY

$Bil.

0

FNMA

I II III IV I II III IV

1979 1980

Privately Held

,$Bil

FCA

* II

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

1981 1982 1983

*Less than $50 million.

GNMA

Mortgage Backed

Securities

I II III IV

1979

I II III IV

1980

Partly estimated.

III

IV

1981

Office of

Office of

the Secretary of the Treasury

Government Finance & Market Analysis

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

certificates, mortgage-backed bonds, and mortgage participation certificates.

h

I II III IV

1982

Iell III IV

1983

April 26,1983-14
AGENCY MATURITIES^

Privately Held

$Bil.

a 1987 1988 1989 1990

6

4

4.84.7

1113.5 4.0

2

n III! I 2.2

III. i i 1.31.5 1.6

• III

1.3 1.51_9

• .*••

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

6-

4-

2-

1991

2.1

.1

1992

.6 .8 1.3

1993

2.8

1

1994

0

4h 1995

2-

o

2

0

2

0

2

0

2-

1999

2003

.1

1996

.1 A

2000

2004

1997

1.2 .9 • .3 .2 m

2001

.1

2005

.1 .1

.1

1998

.1 .2 .2 .1

2002

.3

2006

.1 .1

2007

_2 A_

2008

^2 ^3

2009

.3 .3

2010

2011 2012

.5

2013

.2

2014

.2

- 2015 2016 2017 2018

IV I II III 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

•U Securities issued through March 31, 1983

* Less than $50 million.

April 26, 1983-6
SCHEDULE OF COUPON ISSUES TO BE ANNOUNCED

AND AUCTIONED IN JUNE 1983^

Monday Tuesday Wednesday Thursday Friday

6 7 8

Announce

2 Year

9 10

13 14

Announce

4 Year

7 Year

20 Year

15

Auction

2 Year U

16 17

20 21

Auction

4 Year-!'

22

Auction

7 Year a/

23

Auction

20 YearJ/

24

-^Does not include 5 year issue which will probably be announced in late May

i/For settlement June 30

-2/For settlement in early July

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis April 26, 1983-7