TREASURY FINANCING REQUIREMENTS · 10,221 1,258 7,459 486 10,602 1,454 110,852 10,653 1/ F.R.B....

$Bil

100|

80

60

40

20

TREASURY FINANCING REQUIREMENTSJanuary - March 1991

Uses

Coupon aiMaturities t I

State and Local

V/2

423/4

3/4

ForeignNonmarketables

4 Deficit 1/

99 y2 Sources

± CouponRefunding

Savings Bonds

31/2

DomesticSeries

Net Markets iBorrowing w\

1/ Includes budget deficit, changes in accrued interest and checksoutstanding, transfer of $6.9 billion of REFCORP bond proceeds toRTC, and minor miscellaneous debt transactions.

Decreasein CashBalance

Va

l$Bil

100

80

60

40

20

0

Department of the TreasuryOffice of Market Finance

April 30, 1991-27

$Bil.

100

80

60

40

20

0

TREASURY FINANCING REQUIREMENTSApril - June 1991

Increase

in

Cash

Balance 2/

Uses

Coupon aMaturities •

ForeignNonmarketables

VA

40 1/4 ^ Deficit y

108V4 Sources

CouponRefunding

Savings Bonds

_3V/2

State and Local

Net Market Borrowing^

1/ Includes budget deficit, changes in accrued interest and checks outstandingand minor miscellaneous debt transactions.

2/Assumes a $35 billion cash balance June 30, 1991.Department of the TreasuryOffice of Market Finance

$Bil.

-100

-80

-60

40

20

April 30, 1991-25

NET MARKET BORROWINGApril — June 1991

(Billions of Dollars)

Total 40

Done^2 Year Notes 41/2

5 Year Notes 93/4

7 Year Note 31/2

Regular Bills -191/4

Cash ManagementTotal

Bills -12

-131/2

To Be Done 531/2


lyissued or announced through April 26, 1991.

April 30, 1991-24

$Bil.

60

50

40

30

20

10

0

-10

-20

-30

-40

TREASURY OPERATING CASH BALANCESemi-Monthly

Without New

—

Tax and Loan / \ /lBorrowing17

~ Total OperatingBalance

Accounts p \ / 1Balance / V 1

••

AT A1 \ /\ *^ v' \ /\ / V * \/\

r/V 1 \ / \l V\ / / \ j\Y \K xj V \l \l 1 \ 1 \ \imSt ^si if y v £ \i % & \

•

••

••

•••

••••

1 1 1 1 1 1 1 1 1 1 1 1

\/• •• •• •

V•

1 1

Apr May Jun Jul Aug1990

Sep Oct Nov Dec Jan Feb Mar Apr May Jun1991

1/ Assumes refunding of maturing issues.Department of the TreasuryOffice of Market Finance April 30, 1991-20

TREASURY NET MARKET BORROWING^

1 II III IV I II Ml IV I II III IV I1987 1988 1989 1990

^Excludes Federal Reserve and Government Account Transactions.

i-J-30II III IV I


1991

April 30, 1991-18

$Mil.

-800

NET NEW CASH FROM NONCOMPETITIVE TENDERSIN WEEKLY BILL AUCTIONS^

Net New Cash (Left scale)^•26 Week^•13 WeekDiscount Rate (Right Scale).... 26 Week

^—13 Week

'**s^*

n

-Discount Ra

I^L1*"^

May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Aprp1990 1991


y Excludes noncompetitive tenders from foreign official accounts,p Preliminary

April 30, 1991-5

>l_:

CO

S

zo00

Qz<LU

cc

<LU

CC

c/>cc

LU

QLU

I-

LU

LU

ooZ«

*

CO

mCO

oCO

oCO

c\ioc\i

mm

K*

g*

g*

asm

^^^^^

PS

BB

BS

SK

^^^^^^^^

-

ssa

aa

sa

ss

^^^^^^^^^^^

fcm

^^m

m^m

^^^

r^§

m^^^m

^m

m^^^m

^^

SS

^S

S

moc\j

^^W

^^^^^

li-

^^^^^m

^^^

fc^^^^S

^^^^^^^^^^^

(

^^^^^^^^^^^^

mm

co

c9-6T3(0CO)

"o>I—

oEoG

>OC

D•oc<

D

>CD

Q.

Eoococ03

0)

•a_3OXLU

rec

toiX

Eo

S=*

©t

GO

$Bil.

120

100-

80

60

40

20

NET STRIPS AS A PERCENT OF PRIVATELY HELDSTRIPPABLE SECURITIES

Held in Strippable Form Percent(Left Scale) (Right Scale)

30 Year ^— 30 Year

20 Year ••• 20 Year

10 Year — 10 Year

AMJ J ASON DJ FMAMJ JASOND J FMA*1989 1990 1991

♦ Through April 19, 1991Note: Reconstitution began May 1, 1987

%

70

60

50

-40

-30

-20

-10

0

Department of the TreasuryOffice of Market Finance April 30, 1991-14

TREASURY NET BORROWING FROM NONMARKETABLE ISSUES

1 II III IV I II III IV I II III IV I II III IV I lle

1987 1988 1989

e estimate

1990 1991


STATE & LOCAL GOVERNMENT SERIES

1987


II III IV I

1988 1989

$Bil.

April 30, 1991-19

$Bil.

10

9

8

7

6

5

4

3

2

1

0

STATE AND LOCAL MATURITIES 1991 — 1993

5.6


9.4

* >

-

i

'* <

\ ""

4 -i

%

i

1III

1991

4.8

>v:

IV

10.3

7.1

4.3

<.t

mutuant

1992

6.87.2

6.9

4.2

IV

JUmhuiI

1993

5.1

*-*

—i$Bil.

-10

-9

-8

-7

-6

-5

-4

-3

-2

-1

-JoIV

April 30, 1991-26

QUARTERLY CHANGES IN FOREIGN AND INTERNATIONALHOLDINGS OF PUBLIC DEBT SECURITIES

$Bil,


1988 1989

Nonmarketable

Marketable

Add-ons ^

Other Transactions 23.0

20.3

1990

IV I*/

1991

$Bil.

35

30

25

20

15

10

5

0

-5

-10

-15

-20

-!/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. April 30, 1991-21

FOREIGN ADD-ONS IN TREASURY BILL AND NOTE AUCTIONS

I II III IV

1987


III IV I II III IV I1988 1989

Quarterly TotalsJ/Through April 26, 1991.

II III IV

1990

I ll^

1991

April 30, 1991-22

%

20

SHORT TERM INTEREST RATESQuarterly Averages

.Federal Funds

CommercialPaper

'•?ZZZF ..-......••' Treasury

ThroughApril 24

%

20

18

16

14

12

10

8

6

4

10

8

6

41

1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991


April 30, 1991-1

%

10

SHORT TERM INTEREST RATESWeekly Averages

Prime Rate

Federal Funds

3 Month Treasury Bill

Jul Aug Sep Oct Nov1990

Commercial Paper

L_J_L

Throughweek ending

April 24

I

Nij£

Dec Jan Feb Mar Apr1991

%

10


%

LONG TERM MARKET RATESQuarterly Averages

30-Year

Municipal Bonds

30-YearTreasury

ThroughApril 24

••

1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991

%

16

15

14

13

12

11

10

9

8

7

6


%

9.00

8.50

8.00

7.50

INTERMEDIATE AND LONG TERM TREASURY RATESWeekly Averages

Treasury 5-Year^ \ y* a '*•# Treasury 10-Year^ /"

V

Throughweek ending _

April 26

*/:

Jul Aug Sep Oct1990

Nov Dec Jan Feb Mar Apr1991

%

9.00

8.50

8.00

7.50


%

8.0-

7.5

6.5

6.0-

5.50


MARKET YIELDS ON GOVERNMENTSBid Yields

January 28, 1991 ^

/T^/April 29, 1991

8.0

vo

8.5

8.0

7.510 12 14 16 18 20 22 24 26 28 30

7.5

4 5 6

Years to Maturity8

%

^8.0

7.0

6.5

6.0

5.510

April 30, 1991-28

$Bil.

2200

1800

1600

1400

1200

1000

800

600

400

200

PRIVATE HOLDINGS OF TREASURYMARKETABLE DEBT BY MATURITY

COUPONS

Over 10 years1 2-10 years^ 1-2 yearsjggggS 1 year & under

BILLS

March 31, 1991.»1989.3

1980 1981 1982 1983 1984 1985 1986 1987

As of December 31

1988 1989 1990


PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBTPercent Distribution by Maturity

100%-

1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 Mar'91


As of December 31

April 30, 1991-8

AVERAGE LENGTH OF THE MARKETABLE DEBTPrivately Held

-June 194710 Years5 Months

Months-

76hwarch 31,1991—6 Years

1945 47 49 51 53 55 57 59 61 63 65 67 69 71 73 75 77 79 81 83 85 87 89


April 30, 1991-9

MATURING COUPON ISSUESMay - September 1991(In millions of dollars)

March 31, 1991

Maturing CouponsTotal Federal Reserve

& GovernmentAccounts

Held by

ForeignInvestors^/

14 1/2% Note 5/15/91

8 1/8% Note 5/15/91

8 3/4% Note 5/31/91

7 7/8% Note 6/30/91

8 1/4% Note 6/30/91

13 3/4% Note 7/15/91

7 3/4% Note 7/31/91

14 7/8% Note 8/15/91

7 1/2% Note 8/15/91

8 3/4% Note 8/15/91

8 1/4% Note 8/31/91

9 1/8% Note 9/30/91

8 3/8% Note 9/30/91

Totals

2,04720,59111,2188,368

10,7375,4619,8332,8127,778

13,49011,113

7,91911,452

122,819

320

3,1421,125

480

934534

787

'558119

1,766892

460

850

11,967

PrivateInvestors

1,727 1

17,449 1,32310,093 825

7,888 1,446

9,803 855

4,927 191

9,046 720

2,254 261

7,659 926

11,724 907

10,221 1,2587,459 486

10,602 1,454

110,852 10,653

1/ F.R.B. custody accounts tor foreign official institutions; included in Private Investors.


•April 30, 1991-10

TREASURY MARKETABLE MATURITIESPrivately Held, Excluding Bills

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

Departmentof the TreasuryOffice of Market Finance

i^H Securities issued prior to 1989£2222 New issues calendar year 1989

New issues calendar year 1990 Apm 30,1991 n

$Bil



18.3

l!7-7Sl

7.69.6

I8.6 9£

I10.8

10.2

•

1996

7.4

1997

1998

1999

2000

2001

9.0

I10.9

I9.8

13.3

1

2.3

19.5

I9.4

I9.7

I10.4

11.1

m

JASOND

Securities issued prior to 1989

New issues calendar year 19891

J FMAMJ J


Issued or announced through April 26, 1991

A S O N D

April 30, 1991-12


2 -

1.7 2002 1 MB2-6642 =

2.9 3.2 2003I

3.3 18642

^ 3.62004

4.0 18642

^ 6.3

•2005 — 9.0

42 _ • 4-8 2006

2 = ™2.7 2007" 1.2

2- 2008 13 • 3.6

-2n

3.8 B 2009 H3.2

2 1.7 1.8 2010 _3.8

2n

3.7_ 2011 H4.2

18642

i210

8642

—2012 •10.0

2013 B12.4

42 4.6| 2014

i|4.6 B5.2

1210

8642

M11.8 20156.5

I6.7

I

$Bil.

16141210

86420

16141210

86420

6420

?§16141210

86420

20181614121086420

201816141210

86420

7.0

I10.0

m

19.0

11.0

17.9

I18.0

8.51

10.0

mm

2016

2017

2018

2019

2020

2021

13.8

I

I19.8

m21.0

I

18.5

I9.01

J FMAMJ JASOND

| Securities issued prior to 1989J FMAMJ J


A S O N D


New issues calendar year 1989 S Issued or announced through April 26, 1991

April 30, 1991-13

SCHEDULE OF ISSUES TO BE ANNOUNCEDAND AUCTIONED IN MAY 1991 *

Monday Tuesday Wednesday Thursday Friday1 2 A .

Auction52 week-2/

3

6 7Auction3 year .2/

8Auction10 year.2/

9Auction

30 year -2/

10

13 14Announce

2 year5 year

16 17

20 21 22Auction

2 year-*/

23Auction

5 year4/

24Announce

52 week

27

Holiday

28 29 30Auction

52 week -§/

31


jy Does not include weekly bills2J For settlement May 92J For settlement May 15A/ For settlement May 31.5/ For settlement June 6

April 30, 1991-15

SCHEDULE OF ISSUES TO BE ANNOUNCEDAND AUCTIONED IN JUNE 1991^

Monday Tuesday Wednesday Thursday Friday

3 4 5 6 7

10 11 12 13 14

17 18 19

Announce2 year5 year

20 21

Announce52 week

24 25

Auction2 year 2/

26

Auction5 year-2/

27

Auction52 week1/

28


Xj Does not include weekly billsZJ For settlement July 12l/ For settlement July 5

April 30, 1991-16

SCHEDULE OF ISSUES TO BE ANNOUNCEDAND AUCTIONED IN JULY 1991^

Monday Tuesday Wednesday Thursday Friday

1 2 3

Announce7 year

4

Holiday5

8 9 10

Auction7 year!/'

11 12

15 16 17

Announce2 year5 year

18 19

Announce52 week

22 23

Auction2 year.3-/

24

Auction5 year!/

25

Auction52 week M

26

29 30 31


±1 Does not include weekly bills2J For settlement July 152J For settlement July 31£] For settlement August 1

April 30, 1991-17

TREASURY FINANCING REQUIREMENTS · 10,221 1,258 7,459 486 10,602 1,454 110,852 10,653 1/ F.R.B....

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Transcript of TREASURY FINANCING REQUIREMENTS · 10,221 1,258 7,459 486 10,602 1,454 110,852 10,653 1/ F.R.B....