Coupon Maturities ^ ^Coupon Refunding · MATURING COUPON ISSUES November 1986 — March 1987 (In millions of dollars) Maturing Issues September 30, 1986 Total Held by Federal Reserve

$Bil.

100

80

60

40

20

0

TREASURY FINANCING REQUIREMENTSJuly — September 1986

Increase inCash Balance

Uses

Coupon Maturities ^

ForeignNonmarketables

Deficit y

105V4

Sources

^Coupon Refunding

Savings Bonds

3%

4

State and Local

Net Market vBorrowing m

-"Includes budget deficit, changes in checks outstanding, and minormiscellaneous debt transactions.

$Bil.

100

80

60

40

20

0

Department of the TreasuryOffice of Government Finance & Market Analysis October 28, 1986-19

$Bil

120-

100

80

60

40

TREASURY FINANCING REQUIREMENTSOctober — December 1986

Uses

Coupon Maturities^State and Local

Va

3/4

ForeignNonmarketables

| DeficitJ/

124V2Sources

^Coupon RefundingSavings Bonds

33/4

Net Market 571/2/Borrowing \

To BeDone

$Bil.

120

100

80

60

40

20

0

20 Done^

0

Department of the TreasuryOffice of Government Finance & Market Analysis

Decrease in •Cash Balance^1

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

& Issued or announced through October 24, 1986.

^Assumes a $15 billion cash balance December 31, 1986.October 28, 1986-20

TREASURY OPERATING CASH BALANCESemi-Monthly

4 Total Operating Balance

Tax and Loan

'k Accounts Balance

Federal Reserve Account

'fr^***

.Without New.Borrowingy

%••%

Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec1985 1986


1/ Assumes refunding of maturing issues.

October 28, 1986-24

1»

^M

«^

r-=o

oO

Oo

om

n-

CD

tf>^

00

CM

«e

=C

D0

00

5

^~

in

c

oo

o

o>

oCO

(0cCO

c3ooo

><cC

D

—•<*

c

oo

d>

0>

o

—

cCO

a>to

>D

Ca!CD

T3

~

CO

IDu

.

00

en

o>

a)

•nDoLU

_=1

=C

Mo

oO

)

21

CO

Eo

OO

TREASURY NET BORROWING FROM NONMARKETABLE ISSUES$Bil. — — i$Bil-

30

25

20

15

10

5

0

—5

CD Savings BondsEZ9 State & Local Series

^M Foreign Nonmarketables

5.9

4.1 4-6

££ ii 1.5 Id 2-212.9

a zm

-2.0-2.5

-.6

10.7

1.7

&

16.2

2.6

mst

II III IV I II III IV I II III IV I II III IV I II III IVe1982 1983 1984 1985 1986

e estimate

30

25

20

15

10

5

0

—5


October 28, 1986-9

STATE AND LOCAL GOVERNMENT SERIES$Bil.

100

90

80

70

60

50

1976 1977 1978 1979


i. J_

1980 1981 1982

December 31

J.

October 31, 1986'estimate

-20

10

01983 1984 1985 1986

October 28, 1986-15

QUARTERLY CHANGES IN FOREIGN AND INTERNATIONALHOLDINGS OF PUBLIC DEBT SECURITIES

$Bil.

15

10

0

-5

-10

Nonmarketable Marketable

1 032 Add-ons^

•1 Other Transactions

I-.5

u

I-6.5

II III IV I II III IV I II III IV I II III IV1982 1983 1984 1985

U F.R.B. purchases of marketable issues as agents for foreign and internationalmonetary authorities which are added to the announced amount of the issue.

^ Preliminary. * Lessthan $50 million.

I II lll^1986

$Bil.

15

10

0

-5

•10


SHORT TERM INTEREST RATESQuarterly Averages

1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986


October 28, 1986-12

%

8

Commercial Paper\

••—••••••

6

SHORT TERM INTEREST RATESWeekly Averages

Federal Funds

•"•"...X

Throughweek ending

October 22

Prime Rate 1

%

8

-6

....»••—"*"w„..-

3 Month Treasury Bill'••••••••••###.#

-5

1 I I I 11 I I I II ll I I I 1 I 1 I II I I IJan Feb Mar Apr May Jun

1986


I I llJul

!_LAug Sep Oct

October 28, 1986-13

%

17

16

15

14

13

12

11

10

9

8

7

•••••v#

_L_L

, ••«,.•»*

LONG TERM MARKET RATESQuarterly Averages

New Aa ''••f /Corporatesi

New // \JConventional//

Mortgages//

1/1

%

1976 1977 1978 1979 1980 1981 1982 1983

1/ The 30 year Treasury series was initiated in March 1977.

2/ The 30 year Bond Buyer Index was started September 21, 1979

1984 1985 1986


%

10

INTERMEDIATE AND LONG MARKET RATESWeekly Averages

Treasury 5-Year **>*/

Throughweek ending

October 24

%

10

8

Jan Feb Mar Apr May Jun

1986

Jul Aug Sep Oct


MARKET YIELDS ON GOVERNMENTSBid Yields

%

g

L"'"" Jul

%

9

8

7

^^\ ""%

10

9

8

7

^^^^m

1%-10

-9 —

-8

8

7

'

^^^^^± ^ | | I I I I I I

6October 27, 1986

—6

—

5 1 0 12 14 16 18 20 22 24 26 28 30 - 6

9 10


4 5 6

Years to Maturity

8

October 28, 1986-25

PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBT

BY MATURITY

1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985


As of December 31October 28, 1986-7

PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBTBY MATURITY

100%

Coupons H Over 10 years

a 2-10 years

1-2 years Bills

1 year & under

1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 Sep'86As of December 31


AVERAGE LENGTH OF THE MARKETABLE DEBTPrivately Held

1945 47 49 51 53 55 57 59 61 63 65 67 69 71 73 75 77 79 81 83 85

Department of the TreasuryOffice of Government Finance & Market Analysts October 28, 1986-6

$Bil.

140

120

100

80

60

STRIPS PROGRAM

^ Eligible Issues

-—Amount Stripped

J J A S O N

1985*as of October 22, 1986


M A M J J A

1986

0S O*

October 28,1986-22

STRIPS PROGRAM

Security Issue Date Total Issued Amount Stripped$ Millions as of 10/22/86

11 5/8% 11 / 15/94 11 / 15/84 6,659 1,421

11 1/4% 2/15/95 2/15/85 6,934 1,260

11 1/4% 5/15/95 5/15/85 7,127 2,152

10 1/2% 8/15/95 8/15/85 7,956 1,026

9 1/2% 11/15/95 11 /15/85 7,318 535

8 7/8% 2/15/96 2/15/86 8,471 34

7 3/8% 5/15/96 5/15/86 20,085 0

11 5/8% 11 / 15/04 10 / 30 / 84 8,302 6,026

12% 5/15/05 4/ 2/85 4,261 2,058

10 3/4% 8/15/05 7/ 2/85 9,270 819

9 3/8% 2/15/06 1/15/86 4,756 0

11 3/4% 11/15/ 14 11 / 15/84 6,006 3,422

11 1/4% 2/15/15 2/15/85 12,668 8,470

10 5/8% 8/15/15 8/15/85 7,150 3,754

9 7/8% 11/15/15 11 /15/85 6,900 251

9 1/4% 2/15/16 2/15/86 7,267 11

7 1/4% 5/15/16 5/15/86 18,823 0

149,953 31,239


October 28, 1986-23

MATURING COUPON ISSUESNovember 1986 — March 1987

(In millions of dollars)

Maturing Issues

September 30, 1986

Total

Held by

Federal Reserve

& Government

Accounts

Private

Investors

ForeignInvestors J/

13 7/8% Note 11/15/86

16 1/8% Note 11/15/86

11% Note 11/15/86

6 1/8% Bond 11/15/86

10 3/8% Note 11/30/86

9 7/8% Note 12/31/86

10% Note 12/31/86

9 3/4% Note 1/31/87

9% Note 2/15/87

12 3/4% Note 2/15/87

10 7/8% Note 2/15/87

10% Note 2/28/87

10 3/4% Note 3/31/87

10 1/4% Note 3/31/87

3,2063,4697,6501,196

10,05210,112

5,90810,212

6,2383,4379,166

10,08710,349

6,522

97

277

1,126614

559

600

342

724

1,66947

2,415645

836

315

3,1093,1926,524

582

9,4939,5125,5669,4884,5693,3906,7519,4429,5136,207

792

171

463

28

1,284743

310

1,325534

37

635

734

713

1,080

Totals 97,604 10,266 87,338 8,849

u F.R.B. custody accounts for foreign official institutions;included in Private Investors.


October 28, 1986-18

TREASURY MARKETABLE MATURITIESPrivately Held, Excluding Bills

$Bil. p16141210

86420

20 h1816p-141210

86420

1816h141210

86420

12108h6420

14.7

12.4

7^10.0

15.7 1987

I 12.6 ^16°9-5 K39.4 % 9.5 Ki9-8

ill J

15.6 15.8

„.. 13.7 ^108„, 1 88™ |

J. IS? 19'8?B5 ^ ™is.a ^ *™16.5 149

9.9^10.1 10.3%10 6 1°-8.l

2

6.4

-2.7 I 03.1VM I

_3.3

-4.8

155 r™ 1989 16.2

6.6 '% 7.0

I III III8.3

I7.5 7 .J

1990 io-8

I42I

10.3

6.9 H« 7.3

7.6 B3 7-9 |12.8

I I50 ^ 14.9 % 15.0 ^

ll ill 1 • IJFMAMJJASOND

^| Securities issued prior to 1984£222 New issues calendar year 1984


$Bil.10

8642086420

121-10

5.5

5.7

tl

7.5

2.6

Si 1991 ^9.9

5.4 M I 5.2

8 5 1992

I6.3

i i1993

10.7

5.7

6.3

V/ 4.1

1 I• 12.0

8 -6.5 6.4

et°l6.5

4.7

6.87.6

I7.0

420

6420

*: i0'

18r16141210

86420

2.9

8.2

53 1994 ss72

9.1 1995 t|

i1861996

7.2

8.6

JFMAMJJASOND

New issues calendar year 1985

Issued or announced through October 24, 1986

October 28, 1986-2

$Bil.2

02020202020642086420

1086420420

20

20

20

.2.2

1.5

1.7

2.9

4.8

.2.7

TREASURY MARKETABLE MATURITIESPrivately Held, Excluding Bills

$Bil.

1997

1998

1999

2000 • 2.5

2.4li 2001 m

3.2

3.6

Vs.

6.3

2002

2003

2004

2005

2006

2007

2008

•39 2009

3.5

4.0

9.3

1

1.4

1.6

• 2.6

17.2

8.3

1

1.2

.3.6

.3.4

20

20

86420

1086420420

1086420

1816141210

8642

0

1.8

511.8

70

1.9 2010

I37 2011

2012

2013

4.8 2014

2015

180 2016

• 4.0

14.4

• 10.3

,12.6

r r

6.56.8

FMAMJ JASOND

•I Securities issued prior to 1984

E£2 New issues calendar year 1984Department of the TreasuryOffice of Government Finance & Market Analysis

LJFMAMJJASOND

New issues calendar year 1985

SH Issued or announced through October 24, 1986October 28, 19

$Bil.2

0

-2

-4

24

22

20

18

16

14

12

10

8

6

4

2

0

NET NEW MONEY IN AGENCY FINANCE, QUARTERLYPrivately Held

$Bil.

_l_FFCB

• • •"•F

I II III IV I II III IV I II ill IV I ll III IV I II III6 IV

1982 1983 1984 1985 1986

*Less than $50 million.

14

12

10

8

6

4

2

0

FNMA

I

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

1982 1983 1984 1985

e Partly estimated.

II llleIV

1986

Department of the Treasury -1/ Includes FHLB discount notes, bonds, and FHLMC discount notes, debentures,office of Government Finance &Market Analysis certificates, mortgage-backed bonds, and mortgage participation certificates. October 28, 1986-21

SCHEDULE OF ISSUES TO BE ANNOUNCEDAND AUCTIONED IN NOVEMBER 1986^

Monday Tuesday Wednesday Thursday Friday

3Auction

3 year-^Auction

10 year-?/

6 A ♦■Auction

30 year 11

7

10 11

Holiday

12Announce

2 year

13 14Announce

52 week

17 18Announce

5 year

19Auction

2 year 3/

Auction

52 week 4/

21

24 25 26Auction

5 year 5/

27

Holiday

28


J_/ Does not include weekly bills2/ For settlement November 173/ For settlement December 1AJ For settlement November 285J For settlement in early December

October 28, 1986-16

SCHEDULE OF ISSUES TO BE ANNOUNCEDAND AUCTIONED IN DECEMBER 19861

Monday Tuesday Wednesday Thursday Friday

1 2 3 4 5

8 9 10 Announce2 year4 year

11 12Announce

52 week

15 16 AAnnounce

7 year

17 A ♦•Auction

2 year^

18 . .Auction

4 year-27

19

22 23 » •Auction

52 week^

24 25

Holiday26

29 30Auction

7 year47

31


\J Does not include weekly bills2J For settlement December 313/ For settlement December 26

AJ For settlement in early January

October 28, 1986-27

Documents

Coupon Maturities ^ ^Coupon Refunding · MATURING COUPON ISSUES November 1986 — March 1987 (In millions of dollars) Maturing Issues September 30, 1986 Total Held by Federal Reserve