$Bil. 1001- 90 80 70 60 50 40 30 20 10 0 TREASURY FINANCING REQUIREMENTS April - June 1990 Uses 94V4 Sources Coupon ^i Maturities*! Increase in Cash Balance P 4 Deficit 1/ 3/4 Foreign Nonmarketables ^ Coupon • Refunding Savings Bonds 2 1 State & Local Domestic Series V* Net Market Borrowing 1/ Includes budget deficit, changes in accrued interest and checks outstanding, transfer of $31/2 billion of REFCORP bond proceeds to RTC, and minor miscellaneous debt transactions. $Bil. 100 90 80 70 60 50 40 30 20 10 0 Department of the Treasury Office of Market Finance July 31, 1990-19 /
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$Bil.
1001-
90
80
70
60
50
40
30
20
10
0
TREASURY FINANCING REQUIREMENTSApril - June 1990
Uses 94V4 Sources
Coupon ^iMaturities*!
Increase in
Cash Balance
P 4 Deficit 1/
3/4ForeignNonmarketables
^ Coupon• Refunding
SavingsBonds
2
1State & Local
Domestic SeriesV*
Net Market
Borrowing
1/ Includes budget deficit, changes in accrued interest and checksoutstanding, transfer of $31/2 billion of REFCORP bond proceedsto RTC, and minor miscellaneous debt transactions.
$Bil.
100
90
80
70
60
50
40
30
20
10
0
Department of the TreasuryOffice of Market Finance July 31, 1990-19
/
$Bil.
120-
100-
80
60
40
20
Department of the TreasuryOffice of Market Finance
TREASURY FINANCING REQUIREMENTSJuly - September 1990
Uses
Coupon ^Maturities*
State andLocal
3/4
ForeignNon-Marketables
4 Deficit H
131 VkSources
^ Coupont Refunding
1/4
SavingsBonds
DomesticSeries
Net MarketBorrowing /
63 Vi
38%To Be
Done
Decreasein CashBalance 3/-
41/2
$Bil
120
100
80
60
40
20
01/ Includes budget deficit, changes in accrued interest and checks
outstanding, transfer of $5 billion of REFCORP bond proceeds toRTC, and minor miscellaneous debt transactions.
2/ Issued or announced through July 27, 1990.
3/ Assumes a $30 billion cash balance September 30, 1990. July 31, 1990-20
$Bil.
20
10
0
-10
-20
-30
-40-
-50-
-60
TREASURY OPERATING CASH BALANCESemi- Monthly
Total Operating401- Balanced
30 *
r. A A\«.'">.t,n„^""'"^ V '""""'•>'->,.^'""o./' '''*«'"""-.„, mm, .«m..,..mifll|, tfJ
Federal Reserve Account
1Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
1989 1990
Department of the TreasuryOffice of Market Finance
1/Assumes refunding of maturing issues, excluding CMBmaturing September 20 and FTN maturing August 15.
July 31, 1990-18
TREASURY NET MARKET BORROWING^
I II III IV I II III IV I II III IV I II III IV1986 1987 1988 1989
Department of the TreasuryOffice of Market Finance
-i/Excludes Federal Reserve and Government Account Transactions.
II III
1990
-20
July 31, 1990-13
NET NEW CASH FROM NONCOMPETITIVE TENDERSsmii. IN WEEKLY BILL AUCTIONS^
Department of the TreasuryOffice of Market Finance
Oct * Nov Dec Jan Feb Mar Apr1989 1990
J/Excludes noncompetitive tenders from foreign official accounts.* No noncompetitive rollovers allowed in bill auctions.p Preliminary
Discount Rate %
8.0
May Jun Julp
July 31, 1990-7
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$Bil.
100
90
80
70
60
50
40
30
20
10h
0
NET STRIPS AS A PERCENT OF PRIVATELY HELDSTRIPPABLE SECURITIES
Held in Stripped Form(Left Scale)
11130 Year^20 Year^210 Year
mm
MIP
Percent(Right Scale)
—i30 Year•••20 Year•--'10 Year
• «
WBBfliMMiri«rawM^^mm,
J ASONDJ FMAMJ J ASONDJ FMAMJ J*1988 1989 1990
* Through July 20, 1990Note: Reconstitution began May 1, 1987
%
70
60
50
40
30
20
10
0
Department of the TreasuryOffice of Market Finance
July 31, 1990-6
• t
TREASURY NET BORROWING FROM NONMARKETABLE ISSUES
I II III IV
1986
Department of the TreasuryOffice of Market Finance
I II III IV I II III IV
1987 1988
e estimate
I II III IV
1989 1990
July 31, 1990-16
$Bil
CHANGES IN STATE & LOCAL GOVERNMENT SERIESRELATIVE TO MUNICIPAL BOND ISSUES
50
40
30
20
10
I II III IV
1986
Department of the TreasuryOffice of Market Finance
INew Issues
IRefundingChanges in SLGS
II III IV
1987
II III IV I
1988
II III IV I II
1989 1990
$Bil
50
40
30
20
10
0
July 31, 1990-9
STATE AND LOCAL MATURITIES 1990--1992
$Bil. 9.7 —
9
8.2
—
8 - 7.8 —
7 — 6.86.6
—
6 —
5
4 —
4.5 4.5
3.4
4.2 4.1—
3 — —
2 —-
-
—
1
n |
—
IV I III IV I III IV
1990 1991 1992
$Bil.
9
8
7
6
5
4
3
2
1
0
Department of the TreasuryOffice of Market Finance July 31, 1990-17
QUARTERLY CHANGES IN FOREIGN AND INTERNATIONALHOLDINGS OF PUBLIC DEBT SECURITIES
$Bil.
Nonmarketable
1986 1987 1988 1989
Department of the TreasuryOffice of Market Finance
J/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.
$Bil.
July 31, 1990-15
FOREIGN ADD-ONS IN TREASURY BILL AND NOTE AUCTIONS$Bil. i $Bil
16
14
12
10
8
6
4
2
16.3
Notes
I., i 5 years and over
IV I II III IV I II III IV1987 1988
Quarterly Totals-^Through July 27, 1990.
1986
Department of the TreasuryOffice of Market Finance