TREASURY MARKETABLE MATURITIES
Privately Held, Excluding Bills

oE [= 1998 Ds) ok 2012 wT
a = 1999 Ly ée |
2 m2? 2000 mm?> | LJ 3b : I |
2 | ae 2007 mt = Ld vim | 2013 126 |
7 2002 me ae |
€ 28 | a2 2003 4, | 72 | ac | |
i a | 1)
él | 2004 Go| | 201437 [a
4 | 36 I 40 | 4 | 8 47 47
aL _ 8 L} 3 _ |
10 i 2005 2 rT] an gy 2015
nn oe ee 2 ge
2 | GZ _fZ | i. |
hm 48 | 2006 H él Z . .
1 A | | J a 2016 l
ab eal 2007 poe oe
ic l 2008) om] a a7
é — a er D |
: ——s mn
ic ea EY |
- | 2010 | 40 12-- 2017 |
a a oe _s He |
ia 37 2011 rE iS
Aa a em 7 é |
JF MAM dJ JAS ON D JFMAMJJASOND

MMM Securities issued prior to 1985
WZ, New issues calendar year 1985
Department of the Teasury

Office of Government Finance & Market Analysis

YZ New issues calendar year 1986

Issued or announced through January 23, 1987

January 27. 1987-20


PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT
BY MATURITY

$Bil.
1400;-
1300 COUPONS
1200-- Over 10 years
+00 HS 2-10 years
ZZ 1-2 years
1000;- 1 year & under
900}-

BILLS
|

a NK

Wy
VM yl

my

fe)
1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986
Department of the Treasury As of December 31

Office of Government Finance & Market Analysis January 27, 1987-7


TREASURY NET BORROWING FROM NONMARKETABLE ISSUES

$Bil. SBil.
30- Savings Bonds 130
ZZ State & Local Series 27.2
Ml Foreign Nonmarketables
25'- 25
20/- —20

15 15
10 ; wy '| —-10
5 5
0 0

“ l l l
Wve
1983 1984 1985 1986 1987

e estimate


NET NEW MONEY IN AGENCY FINANCE, QUARTERLY

Privately Held
SBil. $Bil,

2r- r FFCB 14

OSS = a et FNMA
| & "a I 12
~4— 10K

28|- 8

26 FHLB” 6-
24|- or
za 2f ALL LL
201 7 i 1
tel- —

16}- i 16;- GNMA

' Mortgage-Backed

14;— \ 14/— Securities

12} | 42 |
10+ 10/-

8;- i 8-

6 et

aut | 2 mal EEE THE

A all | 7 ia

Pm tn MIV En mV Eh mv ot oe ive Hv bh av tiv ob nm iV To ative
1982 1983 1984 1985 1986 1982 1983 1984 1985 1986

Department of the Treasury

*Less than $50 million

-// Includes FHLB discount notes, bonds, and FHLMC discount notes, debentures,
certificates, mortgage-backed bonds, and mortgage participation certificates.

Office of Government Finance & Market Analysis

© Partly estimated.

January 27, 1987-14


SCHEDULE OF ISSUES TO BE ANNOUNCED

AND AUCTIONED IN MARCH 1987-”

Monday Tuesday Wednesday Thursday Friday
2 3 4 6 Announce
52 week
9 10 11 12 13
Auction
52 week”
16 17 18 Announce | 19 20
2 year
4 year
7 year
23 24 Auction 25 Auction 26 Auction a7
2 year3/ 4 year-2/ 7 years!
30 31

Department of the Treasury

Office of Government Finance & Mackdt Analysis

1/Does not include weekly bills

2/For settlement March 19
3/For settlement March 31

4/ For settlement in early April

January 27, 1987-16



TREASURY MARKETABLE MATURITIES

Privately Held, Excluding Bills

$Bil.

Nov Dec

~
Oo
°
Q
®
2)
a
=
<x

Jan

TEE Securities issued prior to 1985

ZZ New issues calendar year 1985


SHORT TERM INTEREST RATES

Weekly Averages

% %
— 9
Through
eek ending}
= January 21
8 Prime Rate | 8
ws
7 —|7
oe Federal Funds
e ooo ee,
6 Senne? ee 4 16
3 Month Treasury Bill Commercial Paper ..eece
0a gee, rteee®
5l- ee 5
peed
Apr May Jun Jul Aug Sep Oct Nov Dec Jan
1986 1987

Department of the Treasury
Office of Government Finance & Market Analysis

January 27, 1987-1


STATE AND LOCAL GOVERNMENT SERIES
$Bil. $Bil.

100

1982 1983 1984 1985 1986
December 31

Department of the Treasury

Office of Government Finance & Market Analysis January 27, 1987-22


3,000

2,500

2,000

1,500 |

1,000 |

500

(e)

U.S. SAVINGS BOND SALES AND INTEREST RATES

> %
$5 Billion | °
5-Year 1 44
Treasury Rate i
i
i
_ . Savings Bonds  /
ry Sales H
5 ma i 12
t ry Poa H
y Variable Market 7 !
arr of Based Rate oe, 1 1
November 1982" a | o
|
/
_ 8
=> ’
Minimum enn oe?” ‘|
Guaranteed _.--"" ~=¢ {|
. wee Rate ee ee ——
peer Nee eo aemen” Payroll Sales
wae eee os —sa22
Ta a a en
r 14
| \ , 7
oe Lo Lt po Gg
1 oto om voi meowvwest tom veto obo Mob ow i Wd
1983 1984 1985 1986 1987

1982
U Series EE savings bonds sold beginning November 1, 1982 earn a yield equivalent to 85 percent of the 5-year Treasury

marketable rate for bonds held at least 5 years. Such bonds also have a guaranteed minimum of 6.0 percent.
¢ estimate based on October and November actual data.

Department of the Treasury
Office of Government Finance & Market Analysis,

January 27, 1987-5


TREASURY MARKETABLE MATURITIES

Nov Dec

Aug Sep Oct

Jul
HBB Securities issued prior to 1985

Jun

Privately Held, Excluding Bills

Apr May

—  OX°TMTWUUbbCGCGEEE

-A WW.
eS RR RASS

Mar

Jan

$Bil.
18|-
16{-
14
12|-
10|-
8
6
4
2
0

WZ, New issues calendar year 1985


SHORT TERM INTEREST RATES

Quarterly Averages

% %
20 }- 20
18;- Prime Rate 8
16 16
14,-- 14
Federal Funds
12)- 2
Through
10} January 23. —10
gl +8
Commercial
i Paper
6c Treasury Bill p 4 _le
a | |
| t | jt Li i {|| {| | Lot 4
4 im | | | | | i | Lt | im | 1 | | Li Lt

1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987

Department of the Teasury
Office of Government Finance & Market Analysis, January 27, 1987-2


TREASURY FINANCING REQUIREMENTS

October — December 1986

SBil. T S$Bil.
Teale Uses 116% Sources aD
ely | Coupon Maturities 46% 46% @ Coupon Refunding gfe’
Ne rraniote bl
| lonmarketables 4
80 it 80
q Ye
mai ¢ Savings Bonds
60;- State and Local —=60
40;- 40
69% icity
5 4 vie Net Market
Borrowing
20;- Decrease in {20
Cash Balance
wo
Ya
0 (0)

“includes budget deficit, changes in checks outstanding,
and minor miscellaneous debt transactions.

Department of the Treasury
Office of Government Finance & Market Analysis January 27, 1987-11


INTERMEDIATE AND LONG MARKET RATES

Weekly Averages
% %
Fan New Aa Corporates
f . TSS, Through
/ S, we Y ~, week ending
9 Fd td "N, ? mee January 23 _ig
oon peal Stine, J
Mew tL cand Te,
tm aS
Municipal Bonds

.. , Sees.
ard SR eee
Treasury 5-Year
ett dh hh le
Apr May Jun Jul Aug Sep Oct Nov Dec Jan
1986 1987

Department of the Treasury
Office of Government Finance & Market Analysis

January 27, 1987-3,


LONG TERM MARKET RATES

Quarterly Averages

% %
17}- 17
Through
16}- January 23 146
15}- | 15
14, 14
13)- 13
New
12/- Conventional 2
44
ane —10
30-Year were lg
Municipal Bonds 2
8 i= 8
Treasury, a
Te 30-Year’ — oy 7
‘other tosis tis det te ee 6

1977. 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987
1/ The 30 year Treasury series was initiated in March 1977.
2/ The 30 year Bond Buyer Index was started September 21, 1979.

Department of the Treasury
Office of Government Finance & Market Analysis January 27, 1987-4


QUARTERLY CHANGES IN FOREIGN AND INTERNATIONAL

sei HOLDINGS OF PUBLIC DEBT SECURITIES sai
, 17.3

15

10

a

oO

Nonmarketable Marketable

—5- oe SS Add-ons 4-5
a Other
Transactions
_ | [6.5 I 10
ic | toil WwW | Wot Ww | oil Vv | Wool Wwe
1983 1984 1985 1986

1/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.
2/Preliminary.

Department of the Weasury * Less than $50 million.
Office of Government Finance & Market Analysis January 27, 1987-21


SCHEDULE OF ISSUES TO BE ANNOUNCED
AND AUCTIONED IN FEBRUARY 1987~

Monday Tuesday Wednesday Thursday Friday
. 5
2 3 Auction Auction Auction Announce
3 year 2/ 10 year 2/ 30 year 2/ 52 week
9 10 1 12 13
Auction
52 week/
16 17 18 Announce | 19 20
Holiday 2 year
5 year
23 24 Auction 25 Auction 26 7
2 year 4/ 5 year 5/

Department of the Teasury

Office of Government Finance & Market Analysis

Does not include weekly bills
2/For settlement February 17
3/ For settlement February 19

4/For settlement March 2

-5/ For settlement in early March

January 27, 1987-17


TREASURY NET MARKET BORROWING Y

$Bil.

-10

SN

Ion om WwW 1 on om Ww
1986 1987

toi Ww

1984
Excludes Federal Reserve and Government Account Transactions.

il IV

$Bil.

-10

1985

1983

3
&
&



PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT
BY MATURITY

Coupons [_]Over 10 years 1-2 years Bills
{) 2-10 years Z 1 year & under

AW

1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986
As of December 31

Department of the Teasun

ury
Office of Government Finance & Market Analysis, January 27, 1987-6


MATURING COUPON ISSUES

February — June 1987
(In millions of dollars)

December 31, 1986

Held by
Maturing Issues Total Federal Reserve . .
& Government Private Foreign
Accounts Investors —_| Investors +/

9% Note 2/15/87 6,238 1,689 4,549 659
12 3/4% Note 2/15/87 3,437 71 3,366 110
10 7/8% Note 2/15/87 9,166 2,429 6,737 965
10% Note 2/28/87 10,087 647 9,440 1,009
10 3/4% Note 3/31/87 10,349 836 9,513 800
10 144% Note 3/31/87 6,522 315 6,207 1,013
9 3/4% Note 4/30/87 9,992 447 9,545 1,190
12% Note 5/15/87 2,472 498 1,974 50
14% Note 5/15/87 3,519 49 3,470 100
12 1/2% Note 5/15/87 7,831 710 7,121 938
9 118% Note 5/31/87 10,446 590 9,856 1,681
10 112% Note 6/30/87 6,435 353 6,082 699
8 1/2% Note 6/30/87 10,674 799 9,875 490
Totals 97,168 9,433 87,735 9,704

Department of the Treasury

Office of Government Finance & Market Analysis

1/ FRB. custody accounts for foreign official institutions
included in Private Investors.

January 27, 1987-13,



TREASURY OPERATING CASH BALANCE

Semi-Monthly
$Bil.

Without New,
Borrowing’

f\ & Total Operating Balance

Tax and Loan
Accounts Balance

(0) 2
Federal Reserve Account
—20 l | i | l l | | | I | | i
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
1986 1987

1/ Assumes refunding of maturing issues.

Department of the Treasury

Office of Government Finance & Market Analysis, January 27, 1987-15


TREASURY FINANCING REQUIREMENTS

January — March 1987

$Bil. $Bil.
Uses Sources
100+ 29% _l100
80/— —~80

Coupon Maturities > 52% 4 Coupon Refunding

Foreign
60}- Nonmarketables Savings Bonds —60
40}- —40
> To Be
State and Local Borowine: p24 aaa * Done
= 5 Va Done”
Pre @ Deficit 7 D alee
Decrease in >
Cash Balance 2/
ie) 0

Yincludes budget deficit, changes in checks outstanding, and
minor miscellaneous debt transactions.

4/\ssued or announced through January 23, 1987.
Assumes a $10 billion cash balance March 31, 1987.
Department of the Treasury

Office of Government Finance & Market Analysis January 27, 1987-10


MARKET YIELDS ON GOVERNMENTS

Bid Yields
% %
a
i —_—_
October 27, 1986 -”
7 + a 47
= |

%
January 26, 1987 [ee
6 Tegteneenn ne ts 6 te
| _
4 70} 7.0
7
A 65 65
¢ 10 12 14 16 18 20 22 24 26 28 30
| _
5 5
0 7 2 3 4 5 6 7 8 9 70

Years to Maturity

Department of the Treasury

Office of Government Finance & Market Analysis January 27, 1987-23


AVERAGE LENGTH OF THE MARKETABLE DEBT

Privately Held

Years

10

|

«<—June 1947
10 Years

5 Months Months

66
64
62
60

December 31, 1986
~ 5 Years, 4 Months y

Pitti tit ti tt
JFMAMJJASOND

December 1975
2 Years
5 Months

Lttitidt tier tt | i tt

2
1945 47 49 51 53 55 57 59 61

63 65 67 69 71 73 75 77 79 81

Department of the Teasury

Office of Government Finance & Market Analysis

83 85

January 27, 1987-8