%* . - jm " v£3fr

$Bil.

TREASURY FINANCING REQUIREMENTS

April - June 1983

70- Uses

Coupon

Maturities t

Foreign T

Nonmarketables:

Gov't Series^ y4

3/4

Public Series

60

50

40

30

20

10

0

Increase in

Cash Balance

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

4Cash Deficit

69

Sources

^Coupon Refunding

Savings

1 € Bonds

State and

Local

Net Market t

Borrowing W

$Bil.

70

60

50

40

— 30

20

10

0

July 26, 1983-15
$Bil.

90

80

70

60

50

40

30

20

10

0

TREASURY FINANCING REQUIREMENTS

July - September 1983

Uses

Coupon Maturities^

-Foreign Nonmarketables:

Public Series Va

Gov't Series Va \

Va

State and

Local

Cash Deficit

so y2

Sources

14 Coupon Refunding

Savings Bonds

11/4

Net Market a.r

Borrowing-1/t 4°

To Be

Done

32Vz

Done

15%

±1 Issued or announced through July 22,1983.

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

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 July 26, 1983-14
$Bil.

30

TREASURY OPERATING CASH BALANCE

Semi-Monthly

20-

^4—Without New-^-

Tax and Loan A

Borrowing _l/

Totalsk Accounts Balance)\

OperatingYxvA / i

•

•

•

•

•

•\ Balance/ ^ \ ^^ / •

•

•

''"-•».

/Nv-—f/\

iilllliil*"mnmWMW* •*ll•llWHHII»l»"WMllll•rt,,

•

•

•

•

•

•

•

•

•

•

•

•

Federal Reserve Account •

•

•

•

•

•

•

•

•

•

—

I I I 1 1 1 1 1 1 1 1 1

•

•

••

•

i i

10

0

-10

-20

-30

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

1982 1983

jjAssumes refunding of maturing issues

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis July 26, 1983-16
$Bil.

60

50

40

30

20

10

TREASURY NET MARKET BORROWING^

Calendar Year Quarters

COUPONS

11Over 10 yrs

020-10 yrs.

BILLS

60.6 59.2

$Bil.

I II III IV I II III IV

1979

I II III IV I II

1980 1981 1982

1/ Excludes Federal Reserve and Government Account Transactions.

Ill IV I

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

1983

July 26, 1983-19
$Bil.

200

150

100

50

0

NEW MONEY RAISED IN BILLS AS A PERCENT OF

TOTAL NET MARKET BORROWING

Percent

7.6

Total (left scale)

Bills (left scale)

Percent Bills of Total (right scale)

4 VJ4m izxxft ratras

1970 71 72 73 74 75 76 77 78 79 80 81 82 831/

Fiscal Years

1/Issued or announced through July 22, 1983.

200

150

100

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis July 26, 1983-17
NEW MONEY FROM NONCOMPETITIVE BIDS IN

TREASURY BILL AUCTIONS AND AVERAGE AUCTION YIELDS

-600

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

Dec Jan Feb

Auction Dates

-i/New money is the difference between noncompetitive bids on the new

issues and maturing bids previously bid noncompetitively.

-^/Discount basis. July 26, 1983-4
TREASURY NET BORROWING FROM NONMARKETABLE ISSUES

$Bil

2.2

Sgj

f1 Savings Bonds

g^j State & Local Series

HI Foreign Nonmarketables

0

-2 __i-i.4 -.9

-1.9

-4

-6

-8L

-6.6

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

1979 1980 1981

e estimate Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

$Bil.

5.9

i

2.5

WM

-2.5 -.4

•1

-.1

-2

4

I II III IV I II III6

1982 1983

-6

-8

July 26, 1983-9
QUARTERLY CHANGES IN FOREIGN AND INTERNATIONAL

HOLDINGS OF PUBLIC DEBT SECURITIES

$Bil. i $Bil.

Nonmarketable

12 12

Marketable

^ Add-ons-^

• Other Transactions

5.4

8.8 <LT.

8

0

-4

•8

•12

-16

r/n bkeb

-1.3 -1.7

-3.8

-5.0 -5.8

-13.2

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

1979 1980 1981 1982

-L'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/Partly estimated. Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

8

0

-4

-8

--12

I ll-S'

1983

-16

July 26, 1983-24
FOREIGN HOLDINGS OF TREASURY SECURITIES

1973

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

77 78 79 80

As of December 31

July 26, 1983-23
CUMULATIVE NET CASH FLOW IN SAVINGS BONDS^

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

M J J A

Month of year

1/ Cash sales less redemptions

e July 1983 partly estimated

-10

-12

July 26, 1983-8
SHORT TERM INTEREST RATES

Monthly Averages

1979

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

1980 1981 1982 1983

July 26, 1983-11
%

13

11

<^^ liiiiiiiuiiiin,^'

Commercial """"

SHORT TERM INTEREST RATES

Weekly Averages

Prime Rate

Paper ...... ... V.w<^.---^>^-- '--—%W:&<^"'

3 Month

Treasury Bill

I I I

Oct Nov

1982

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

Dec Jan Feb Mar Apr

1983

May

Through

week ending

July 20

June Jul

%

13

11

July 26, 1983-12
%

19-

LONG MARKET RATES

Monthly Averages

17

New Conventional

Mortgages

New Aa / \

Corporates*' ♦••• \_'^V

15

13

11

1979

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

1980 1981

%

19

17

15

13

11

1982 1983

July 26, 198310
%

8-

Oct

INTERMEDIATE AND LONG MARKET RATES

Weekly Averages

Nov

1982

Municipal Bonds

20-Year

Dec Jan Feb Mar Apr

1983

May

Through

weekending

July 22

Jun Jul

%

14

13

12

11

10

8

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis July 26, 1983-13
« »

MARKET YIELDS ON GOVERNMENTS

%

11

10

8

/y

o

Office of tr.s Secretary of the Treasury

Office of Governrr.ant Finance & Market Analysis

Bid Yields

"> ___0— -

— ; __

11 - —

,—

m

%

11

10

10 12 14 16 18 20 22 24 26 28 30

4 5 6

Years to Maturity

8

%

8

10

July 26, 1983-18
$Bil.

800

700

600

500

400

300

200

100

0

PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT

BY MATURITY

—

June 30, 1983-^

COUPONS //

831.3

84.2

t

,

Over 10 years / / 233.7

lllll 2-10 years / /

V//A ' •1-2 years X /

ggg 1 year & under / s^ s,

t

139.7

t

BILLS //^ j/rfzfr

t

97.9

\

—

275.8

'

1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982

As of December 31

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis July 26, 1983-1
PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT

BY MATURITY

100%

Coupons Qover 10 yrs

H2-10yrs

1-2 yrs Bills

1 yr & under

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

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

As of December 31

July 26, 1983-3
AVERAGE LENGTH OF THE MARKETABLE DEBT

Privately Held

Months

June 30, 1983

4 Years

J I l L

J FMAMJ J ASOND

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 26, 1983-2
MATURING COUPON ISSUES

August • December 1983

(In Millions of Dollars)

Maturing Issues

Outstanding June 30,1983

Total

Held By

Federal Reserve

& Government

Accounts

Private

Investors

Foreign

Investors!/

11 7/8% Nt. 8/15/83 4,285 1,086 3,199 556

9 1/4% Nt. 8/15/83 6,670 3,225 3,445 260

16 1/4% Nt. 8/31/83 5,431 657 4,774 882

9 3/4% Nt. 9/30/83 2,802 284 2,518 345

16% Nt. 9/30/83 5,268 469 4,799 830

15 1/2% Nt. 10/31/83 5,471 636 4,835 1,424

7% Nt. 11/15/83 2,309 105 2,204 250

9 7/8% Nt. 11/15/83 5,832 2,077 3,755 461

12 1/8% Nt. 11/30/83 5,493 694 4,799 670

10 1/2% Nt. 12/31/83 2,701 289 2,412 332

13% Nt. 12/31/83 5,427 653 4,774 680

Total 51,689 10,175 41,514 6,690

\J 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 26, 1983-20
$Bil.

6

4

2

0

10

8

6

4

2

0

12

10

8

6

4

2

0

18

16

14-

12-

10

8

6

4"

2-

TREASURY MARKETABLE MATURITIES

Privately Held, Excluding Bills and Exchange Notes

$Bil

1983 6.6

4.8 I

I

4.5

" I 5.3

7.9

9.3 1984

,8.6 7.2

r no,6-9

5.1|

1

• II

S5.6

12.0 11Q 1985 12^5

778„278 8.2 38.1

I

1986

143

10.0

3.9

I 4.4

8X> 1987

62 5.5 6J

7.5

I

4.1

• 60 • 83 4.8h4.8 29

I

10.1 9.7IO.7'

7-4^7.1 I

ill

P" 1 9.5

3.6 3.3

5.7 6.8

5.6

m

7.2

I

J FMAMJJ ASOND

10

8

6

4

2

0

6

4

2

0

6

4

2

0

4

2

0

14h

12

10

8

6

4

2

0

8

6

4

2

0

5.0

r2.7 p

3.5

4.8

2.8

83

[

3.3 2.2

5.1

1988

5.8

3.4

1989

4.7

1990

2.6

3.2 2.3

a 3.8

11

5.0

-

1991

-

1.7 2.3 2.5

2.6

8.8

\

1992

4.1

2.3

1993 6.3

—

4.7

~

1 1 2.2• 1.3

JFMAMJJ ASOND

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis

Securities issued prior to 1981 gSj-%j New issues calendar year 1982

New issues calendar year 1981 ]"_"__'] Issued or announced through July 22, 1983
$Bil.

4

2

0

4

2

0

2

0

2

0

2

0

2

0

4

2

0

4

2

0

4

2

0

4

2

0

2

2.9

1.7

2.1

1.5

0

1.7

3.0

TREASURY MARKETABLE MATURITIES

Privately Held, Excluding Bills and Exchange Notes

$Bil.

1994

1.5 1.5

2.1

2005

1995 2006

2.6 1.4 2.7 2007

32

n

.8

1.7

1996

1997

1998

1999

2000

2001

2002

2003

2004

2.5

I

2.4 1.6

B3

2.7

4 —

2 —

0

10

8

6

4

2

0

2

0

2008

y 2009

2010

1.8 1.9

3 8 2011

2012

2013

J F M A M J J

3lMew issues calendar year 1982

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

Insecurities issued prior to 1981

1.4

1.2

3.6

I

3.4

I

4.0

1

4.4

10.2

ASOND

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis New issues calendar year 1981 illIssued or announced through July 22, 1983 July 26. 1983-6
$Bil.

10

9

8

7

6

5

4

3

2

1

0

9

8

7

6

5

4

3

2

1

0

NET NEW MONEY IN AGENCY FINANCE, QUARTERLY

Privately Held

FNMA

fall, i il

FHLB^

jJli .1x

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

1979 1980 1981 1982 1983

$Bil

5-

hill

FCA

0

-1

-2

13

12

11

10

9

8

7

6

5

4

3

2

1

0

III!

GNMA

Mortgage Backed

Securities

ill ii

ml I II III IV I II III IV I II III IV I II III IV I llelll IV

1979 1980 1981 1982 1983

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 26, 1983-22
AGENCY MATURITIES^

Privately Held

$Bil.

6

4

2

0

4-

2-

0^

2

0

2

0

2

0

2

°h 2015

0

1991

.9

2.1

li

1995

1999

2003

.1

2007

.2 .1

1992

.6 .8 1.3

1996

.1 A

2000

2004

2008

.2 3

1993

3.1

I

1.8

I - 1997

1_2 9 • -3 .2 •

2001

.1

2005

.1 .1

2009

.3 .3

1994

.3 .1

1998

.1 .2 .2 .1

2002

.3

2006

.1 .1

2010

[ 1987 1988 1989 1990

-5.5

111. • •

llll llii * 1I.31.51.6

• III

1* 1.51^

l.ll

2011 2012

.5

2013

1*

2014

^2

2016 2017 2018

I II III IV I II III IV I II III IV II III IV I II III 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 June 30, 1983

* Less than $50 million.

July 26. 1983-21
SCHEDULE OF COUPON ISSUES TO BE ANNOUNCED

AND AUCTIONED IN SEPTEMBER 1983 ^

Monday Tuesday Wednesday Thursday Friday

5 6 7

Announce

2 Year

8 9

12 13

Announce

4 Year

7 Year

20 Year

14

Auction

2 Year-^

15 16

19 20

Auction

4 Year-2/

21

Auction

7 Year &

22

Auction

20 Year &

23

-i/Does not include 5 year issue which will probably be announced in late August

-?/For settlement September 30

siFor settlement in early October

Office of the Secretary of the Treasury

Office of Government Finance & Market Analysis July 26. 1983-7