175 coupon maturities ^ 4 coupon refunding · jan feb mar apr may jun jul aug sep oct nov dec janp...

TREASURY FINANCING REQUIREMENTSOctober - December 1992

Uses Sources

1881/2

$Bil.

200

175

150

125

100

75

50

25

0

Coupon Maturities ^State and Local

4 Coupon RefundingSavings Bonds

Department of the TreasuryOffice of Market Finance

y4 DeficitNet Market ^Borrowing W

Decrease in Cash Balance ^

y Includes budget deficit, changes in accrued interest and checksoutstanding and minor miscellaneous debt transactions.

$Bil.

200

175

150

125

100

75

50

25

0

February 1,1993-26

$Bil.

160

120

80

40

0

TREASURY FINANCING REQUIREMENTSJanuary - March 1993

Uses

Coupon Maturities ^

State and Local

%

163

Foreign Nonmarketables

^Deficit'

Sources

4 Coupon Refunding

Savings Bonds

V/2

Net MarketBorrowing • 67S

M

To be

done

y Includes budget deficit, changes in accrued interest and checksoutstanding and minor miscellaneous debt transactions.

^ Issued or announced through January 29, 1993.3/Assumes a $20 billion cash balance March 31, 1993.

Decrease

in Cash _Balances

|83/4 10

$Bil.

160

120

80

40

0

Department of The TreasuryOffice of Market Finance February 1, 1993-27

TREASURY OPERATING CASH BALANCESemi- Monthly

$Bil.

60

40

Total Operating Balance Tax and Loan

20 —

0

Federal Reserve Account

-20 —

-40

Without

— New "~

BorrowingV

t

•

t

t

•

-60Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar

1992 1993

Department of the Treasury

Office of Market Finance

y.Assumes refunding of maturing issues.

February 1, 1993-20

TREASURY NET MARKET BORROWING v

$Bil.

100

80

60

-40

1989


Coupons

"HI Over 10yrs.£2 2-10 yrs.

Bills

52.8 51.1

IV I

64.6

32.6

II I

1990

103.5

IV I IV I

1991

1/ Excludes Federal Reserve and Government Account Transactions.

1992

IV I

1993

•20

•40

February 1,1993-8

$Bil.

160

140

120

100

80

60

40

20

0

NET STRIPS AS A PERCENT OF PRIVATELY HELDSTRIPPABLE SECURITIES

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

130 Year — 30 Yearm 20 Year ^ra 20 Year

10 Year — 10 Year

4 VA Y4 N wJ FMAMJJASONDJ FMAMJ JASON

1991 1992

'Through January 22, 1993

D J*

%

70

60

50

40

30

20

10

0

Department of the TreasuryOffice of Market Finance February 1, 1993-28

-600

NET NEW CASH FROM NONCOMPETITIVE TENDERS INWEEKLY BILL AUCTIONS v

Discount Rate %

jTV Net New Cash (left scale) Discount Rate (right scale)

• 26week ...... 26 week• 13week — 13week

4.0

3.5

3.0

- 2.5

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Janp1992 1993

Excludes noncompetitive tenders from foreign official accounts and the Federal Reserve account.p PreliminaryDepartment of the Treasury

Office of Market Finance February 1,1993-19

m°.

<&

CO

mc\ioc\i

LO

in

Q.

CO

Oi^^/^>

^^^^^^

CO

QzOCD

QZ<C/)

LU

v/////;//////^^

^Q

>C£

DC/)

<LU

tr

0)

C£

LU

QzLU

HLU

>LU

Q_

oo

-=°

CD

CO

*''

»~

1

''

1"

''

l<f

I^W

^^/^

^^^^^^

_,cvi

1I

?*in

CO

CO

(n

ca

bF

c

mo

i_

^"O

D.

CO

Q.

->t5o

CM

Co

Oi

to

O)

ILOoCD

"O

T3

c13

i

CO

.>co

CD

•oQ

.

rF

°T

a>o

°-o

a>>

coc

ao

CI)

CO

oo

ac=

10

E<

*~

oE

S

y3C

O

CD

>

a>-8

ocEoco

c

Eoo

oo

oc

oo

•DT3CO

EFrt

toc

XC

MC

D

CD

O)

CI)

CO

E

O)

oT

-"Q

.

',-

CO

CD

•DCD

-£

TJ

CO

=£

3.o

2OX

CJ

cU

_±

i

coe

>-°

om

3=o

LU

>1C

OC

O

&.

r-

3(0C

D(0

O

S£

Hg

0L

L

I!®

?j

mcvi

'»

~1

1^/^/^^^^^^^

<

''

I

I^W

^^^^^^^

Ll

I1

"~

1

I»

|

I»

'1

v/////////////w

////////////////////////zv7

,

vm

mm

ww

/m/m

mm

mm

MM

,&

t^^^^^^^^^<

'i

—i

k»

*^^w

^^

taa

^^^^^^^^

^

k^;^/^

^^

<

i^//^

^^^^^^^

^

v^

^A

/;;^

^^

^/m

,

i'

"'

~1

Li.

-3

oc\im

m

TREASURY NET BORROWING FROM NONMARKETABLE ISSUES

1989



1990 1991

e estimate

IV le1992 1993

February 3, 1993-17

$Bil.

SALES OF UNITED STATES SAVINGS BONDS1980-1992

iii iii

1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992

Department of the TreasuryOffice of Market Finance February 1,1993-25

STATE & LOCAL GOVERNMENT SERIES$Bil

10

0

Gross Issues

Redemptions

II III IV1988 1989


III IV1990

III IV1991

$Bil.

A — 10

II III IV1992

0

February 1,1993-9

STATE AND LOCAL MATURITIES 1993 -1995

I II III IV

1993


III IV I

1994

I III IV1995

February 1, 1993-24

QUARTERLY CHANGES IN FOREIGN AND INTERNATIONALHOLDINGS OF PUBLIC DEBT SECURITIES

$Bil.

35

30

2525.8

Nonmarketable

Marketable

VAdd-ons"

Other Transactions

18.1

II III IV

1989 1990

IV I

1991 1992


\J F.R.B purchases of marketable issues as agents for foreign and international monetaryauthorities which are added to the announced amount of the issue.

2/ Preliminary

$Bil.

\sj2J

35

30

25

20

15

10

H 5

0

-5

H-10

15

20

February 1, 1993-15

FOREIGN ADD-ONS IN TREASURY BILL AND NOTE AUCTIONS


II III IV I1990 1991

Quarterly Totals1/4 year notes not issued after December 31, 1990.2/Through January 29, 1993.

II III IV1992

February 1, 1993-16

%

12

10

8

Commercial

Paper

SHORT TERM INTEREST RATESQuarterly Averages

Prime Rate

3 Month

Treasury Bill

Through

January 27

12

10

8

— 4

2 i i i i I i i i i i i i I i i i I i i i I i i i I i i i I i i i I i i i l i i i l i i i l2

1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993

Department of the TreasuryOffice of Market Finance February 1, 1993-5

%

i i i i i

SHORT TERM INTEREST RATESWeekly Averages

Commercial

Paper

Prime Rate

Federal Funds

3 Month

Treasury Bill

i i i i il i i i i li i i i

Through

January 27

i i i i i i i i i i i i i i i i ii i i i i i i i

%

Apr May Jun Jul Aug1992

Sep Oct Nov Dec Jan

1993

February 1,1993-4Department of the Treasury


%

LONG TERM MARKET RATESQuarterly Averages

New Aa Corporates

ThroughJanuary 27

%

14

13

12

11

10

9

8

1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993


%

8

INTERMEDIATE AND LONG TERM INTEREST RATESWeekly Averages

Treasury 30-Year

Apr May Jun Jul Aug1992

Sep Oct Nov Dec

ThroughJanuary 26

Jan1993

8


February 1,1993-6

%MARKET YIELDS ON GOVERNMENTS

5 —

^—

- _ ~ ~

October 30,1992

—

^ ~*± —

—

February 1, 1993

—

^ %

rf

7.5

7.0

6.5

6.01

-

7.5 —

7.0

6.5 _

6.0

00 12 14 16 18 20 22 24 26 28 3

%

4 5 6

Years to Maturity

8 10

Department of the TreasuryOffice of Market Finance February 2,1993, 29

PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBTBY MATURITY

1982 1983 1984 1985 1986 1987 1988

As of December 31



1989 1990 1991 1992

February 1, 1993-2

100%

80

60

40

20

0

PRIVATE HOLDINGS OF TREASURY MARKETABLE DEBTPercent Distribution By Maturity

Coupons E2 Over 10 years • 1-2 years • BillsEH 2-10 years M 1 year &under

F7771 VS

1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992

As of December 31

February 1, 1993-3



Years

AVERAGE LENGTH OF THE MARKETABLE DEBTPrivately Held

194547 49 51 53 55 57 59 61 63 65 67 69 71 73 75 77 79 81 83 85 87 89 91


MATURING COUPON ISSUESFebruary - June 1993

(in millions of dollars)

Maturing Coupons

December 31,1992

Total

Held by

Federal Reserve

& GovernmentAccounts

Private

Investors

ForeignJ/Investors

10 7/8% Note 02/15/938 1/4% Note 02/15/938 3/8% Note 02/15/934 % Bond 02/15/936 3/4% Bond 02/15/937 7/8% Bond 02/15/936 3/4% Note 02/28/939 5/8% Note 03/31/937 1/8% Note 03/31/937 3/8% Note 04/15/937 % Note 04/30/93

10 1/8% Note 05/15/937 5/8% Note 05/15/938 5/8% Note 05/15/934 1/8% Bond 05/15/93 2/7 % Bond 05/15/93 %/6 3/4% Note 05/31/9381/8% Note 06/30/937 % Note 06/30/93

5,1628,256

14,74460

627

1,50113,736

9,20414,404

6,51113,5905,1008,096

13,251404

692

14,1008,393

15,349

780

52

3,73042

112

162

1,225945

1,657300

811

657

250

1,712330

230

1,444500

1,652

4,3828,204

11,01418

515

1,33912,5118,259

12,7476,211

12,7794,4437,846

11,53974

462

12,6567,893

13,697

55

907

1,117

490

1,5031,6391,0051,648

560

956

2,723

1,925910

1,597

Totals 153,180 16,591 136,589 17,035

1/ F.R.B. custody accounts for foreign official institutions; included in Private Investors.2/ Treasury announced January 13, 1993 the call of the 4 1/8%89-94 and 7% 93-98

bonds for redemption at par on May 15, 1993.Department of the TreasuryOffice of Market Finance February 1, 1993-10

TREASURY MARKETABLE MATURITIESPrivately held, Excluding Bills

F M A M J A S O N


Securities issued prior to 1991

New issues calendar year 1991

February 1,1993-11

F M



J A S 0 N D

| Securities issued prior to 1991| New issues calendaryear 1991

F M A M J J

New issues calendar year 1992

Issued or announced through January 29, 1993February 1, 1993-12



J A S 0 N D

| Securitiesissued prior to 1991New issues calendar year 1991

F M A M J JNew issues calendar year 1992

Issued or announced through January 29,1993February 1,1993-13


$Bil

36

34 -

32

30

28

26

24

22

20

18

16

14

12

10

$Bll.24

22 201720 18.018 •1fi •14 • 13.6

12 • •10 I I

8 • •6 • •4 • •2 • •

12

10 8.5 2018 8.98 • •6 I •4 • •2

n 1 •

28 202024

22 21.0

20 •18 •16 •14 •12

1010.0 10.0

•1 18 1 • •6 I I •4 • • •2 1 1 •

FMAMJJASONDH Securities issued prior to 1991

New issues calendar year 1991Department of the TreasuryOffice of Market Finance

2021 32.2

11.0 11.7 12.0

2022

10.0

_

2023

FMAMJJASONDNew issues calendar year 1992

Issued or announced through January 29, 1993February 1.1993-14

SCHEDULE OF ISSUES TO BE ANNOUNCED AND AUCTIONEDIN FEBRUARY 1993^

Monday Tuesday Wednesday Thursday Friday

1 2 3 4

Auction

52 week^

5

8 9Auction

3 year &

10Auction

10 year3''

11Auction30 year 3/

12

15

Holiday

16 17 Announce2 year5 year

18 19

22 23Auction

2 year $1

24Auction

5 year!/

25 26Announce

52 week&


y Does not include weekly bills2/For settlement February 113/For settlement February 164/For settlement March 15/ For auction March 4 and settlement March 11

February 2,1993-21

SCHEDULE OF ISSUES TO BE ANNOUNCED AND AUCTIONEDIN MARCH 1993^


1 2 3 4

Auction

52 week^

5

8 9 10 11 12

15 16 17 Announce2 year5 year

18 19

22 23 24

Auction

2 year?/

25Auction

5 year^

26Announce52 week^/

29 30 31


y Does not include weekly bills2/For settlement March 113/For settlement March 314/For auction April 1 and settlement April 8 February 2,1993-22

SCHEDULE OF ISSUES TO BE ANNOUNCED AND AUCTIONEDIN APRIL 1993 "J


1

Auction

52 week &

2

5 6 7

Announce

7 year

8 9

12 13

Auction

7 year ^

14 15 16

19 20 21 Announce2 year5 year

22 23Announce

52 week

26 27Auction

2 year&

28Auction

5 year 4/

29Auction

52 week §/

30


y Does not include weekly bills£/For settlement April 83/ For settlement April 154/ For settlement April 305/For settlement May 6 February 2,1993-23

175 coupon maturities ^ 4 coupon refunding · jan feb mar apr may jun jul aug sep oct nov dec janp...

Documents