Take, in^mcnca, 'C% Buy U. S. Savings Bonds. . stock. GOVERNMENT FINANCIAL OPERATIONS OFFICE OF THE COMMISSIONER

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4 DEPARTMENT OF THE TREASURY FISCAL SERVICE, BUREAU OF GOVERNMENT FINANCIAL OPERATIONS OFFICE OF THE COMMISSIONER WASHINGTON, D.C OFFICIAL BUSINESS PENALTY FOR PRIVATE USE,»300 POSTAGE AND FEES PAID DEPARTMENT OF THE TREASURY TREAS FIRST CLASS 'C% Take,. stock. in^mcnca, Buy U. S. Savings Bonds

5 !»!!»!, (, I I ' I i -^Rt^b>. December 976 ^- \ -=l I li E r J r II i II II II n! jjm, S!!J!!I I!! ' jiimiinnniinni!iinnn''^''i!«"'«""n:"^"::^s!"?fflmfffl Si P nil mil pit mil, I J I imrf TT I'liii '.-sr tst \^ or UNITED STATES TREASURY DEPARTMENT OFFICE OF THE SECRETARY %,

6 The Treasury Bulletin is for sale by the Superintendent of Documents, U.S. Government Printing Office, Washington. D.C Subscription per year $55.5 domestic, $68.95 foreign. Single copy price varies.

7 Treasury Bulletin December 976 DEPARTMENT OF THE TREASURY WASHINGTON. D.C. OFFICE OF THE SECRETARY

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9 December 976 CONTENTS Article Treasury Financing Operations FEDERAL FISCAL OPERATIONS IV FFO-. FFO-2. Chart FFO-3. FFO-4. FFO-5. FFO-6. FFO-7. UST-. UST-2. UST-3. MS-. FD-. FD-2. FD-3. FD-4. FD-S. FD-6. FD-7. FD-8. FD-9. FD-0. PDO-. PDO-2. PDO-3. PDO-4. PDO-5. PD06. PDO-7. PDO-8. PDO-9. Summary of Fiscal Operations Budget Receipts by Source 3 Budget Receipts by Source 5 Budget Outlays by Agency 6 Undistributed Offsetting Receipts 7 Budget Outlays by Function 8 Investment Transactions of Government Accounts in Federal Securities (Net) 0 Trust Funds Transactions ACCOUNT OF THE U.S. TREASURY status of the Account of the U.S. Treasury 3 Analysis of Changes in Tax and Loan Account Balances 4 Gold Assets and Liabilities of the Treasury 5 MONETARY STATISTICS Money in Circulation 6 FEDERAL DEBT Summary of Federal Debt 7 Computed Interest Charge and Computed Interest Rate on Interest-Bearing Public Debt 7 Interest-Bearing Public Debt 8 Maturity Distribution and Average Length of Marketable Interest-Bearing Public Debt 8 Government Accoimt Series 9 Interest- Bearing Securities Issued by Government Agencies 20 Participation Certificates 2 Debt Subject to Statutory Limitation 22 Status and Application of Statutory Limitation 23 Treasury Holdings of Securities 2A PUBLIC DEBT OPERATIONS Maturity Schedule of Interest- Bearing Marketable Public Debt Securities 26 Offerings of Bills 27 New Money Financing through Regiilar Weekly Treasury Bills 30 Offerings of Public Marketable Securities 34 Unmatured Marketable Securities Issued at a Premium or Discoimt 37 Allotments by Investor Classes on Subscriptions for Public Marketable Securities 4I Disposition of Public Marketable Securities 44 Foreign Series Securities 47 Foreign Currency Series Securities 52

10 // Treasury Bulletin CONTENTS UNITED STATES SAVINGS BONDS SB-l. S&-2. SB-3. SB-4. SN-. OFS-. OFS-2, TSO-. TSO-2. TSO-3. TSO-A. TSO-5. MQ-. MQ-2. MQ-3. Chart AY-. Chart IFS-. IFS-2. IFS-3. IFS-A. IFS-5. IFS-6. CM-I-. CM-I-2. CM-I-3. G^t-I-^. CM-I-5. CM- -6. CM Sales and Redemptions by Series, Cuinulative 55 - Sales and Redemptions by Periods, All Series Combined 55 - Sales and Redemptions by Periods, Series E through K 56 - Redemptions of Matiired and Unmatured Savings Bonds 58 UNITED STATES SAVINGS NOTES - Sales and Redemptions by Periods 59 OWNERSHIP OF FEDERAL SECURITIES - Distribution of Federal Securities 60 - Estimated Ownership of Public Debt Securities 6 TREASURY SURVEY OF OWNERSHIP - Summary of Federal Securities 62 - Interest-Bearing Marketable Public Debt Securities by Type and Maturity Distribution Interests Bearing Marketable Public Debt Securities by Issue 63 - Securities Issued by Government Agencies 65 - Securities Issued by Government-Sponsored Agencies and D.C 65 MARKET QUOTATIONS ON TREASURY SECURITIES - Treasury Bills 66 - Treasury Notes 66 - Treasury Bonds 67 - Yields of Treasury Securities 68 AVERAGE YIELDS OF LONG-TERM BONDS - Average Yields of Long-Term Treasury, Corporate, and Municipal Bonds 69 - Average Yields of Long-Term Treasury, Corporate, and Municipal Bonds 70 INTERNATIONAL FINANCIAL STATISTICS - U.S. Reserve Assets 7 - U.S. Liquid and Nonliqxiid Liabilities to Foreign Official Institutions, and Liquid Liabilities to All Other Foreigners 72 -U.S. Liquid and Nonliquid Liabilities to Official Institutions of Foreign Countries, by Area 73 - Nonmarketable U.S. Treasury Bonds and Notes 7^ -U.S. Position in the International Monetary Fund 75 - Weighted- Average of Exchange Rate Changes for the Dollar 76 CAPITAL MOVEMENTS LIABILITIES TO FOREIGNERS REPORTED BY BANKS - U.S. Short-Term Liabilities by Type of Foreign Holder 79 Short-Term Liabilities Ijy Type of Liability 30 Short-Term Liabilities by Country 82 Short-Term Liabilities, by Type and Country 83 Short-Term Liabilities, Not Regiilarly Reported Separately 84 Long-Term Liabilities tiy Type 85 Long-Term Liabilities by Country 86

11 December 976 III CONTENTS CLAIMS ON FOREIGNERS REPORTED BY BANKS CM-II-. - Short-Term Claims by Type 87 CM-II-2. - Short-Term Claims by Country 88 CM-II-3. - Shor-t^Term Claims, by Type and Country 89 C^m-,4. - Long-Term Claims by Type 90 Cl^II^S. - Long-Term Claims by Country 9 CM-II-6. - Long-Term Claims, by Type and Country 92 LIABILITIES TO FOREIGNERS REPORTED BY NONBANKING CONCERNS - U.S. CM-III-. - Liabilities by Type 93 CM-III-2. - Short-Term Liabilities by Country 9A CM-III-3. - Shor>Term Liabilities, by Type and Country 95 Cl\*-III-/i. - Long-Term Liabilities, by Country 96 CLAIMS ON FOREIGNERS REPORTED BY NONBANKING CONCERNS - CM-IV-. - Claims by Type 97 CM-IV-2. - Short-Term Claims by Country 98 CM-IV-3. - Short-Term Claims, by Type and Country 99 CM-IV Short-Term Liquid Claims Reported by Large Nonbanking Concerns, by Type 00 CM- IV Short-Term Liquid Claims Reported by Large Nonbariking Concerns, by Country 00 CM-IV-6. - Short-Term Liquid Claims Reported by Large Nonbariking Concerns, by Type and Coixntry 0 CM- IV-7. - Long-Term Claims by Country 02 TRANSACTIONS IN LONG-TERM SECURITIES BY FOREIGNERS CM-V-. - Foreign Purchases and Sales of Long-Term Domestic Securities 03 CM-V-2. - Foreign Purchases and Sales of Long-Term Foreign Securities 03 CM-V-3. - Net Foreign Transactions in Marketable U.S. Treasiory Bonds and Notes by Country 0/i CM-V-4. - Estimated Foreign Holdings of Marketable U.S. Treasury Bonds and Notes by Country 05 CM-V-5. - Net Foreign Transactions in Long-Term Domestic Bonds 06 CM-V-6. - Net Foreign Transactions in Domestic Stocks by Country 07 CM-V-7. - Net Foreign Transactions in Long-Term Foreign Bonds by Coimtiy 08 CM-V-8, - Net Foreign Transactions in Foreign Stocks by Country 09 CM-V-9. - Foreign Purchases and Sales of Long-Term Securities, Latest Date 0 CM-V-0. - Foreign Purchases and Sales of Long-Term Seciu-ities, Latest Year Ill FOREIGN CREDIT AND DIBIT BALANCES IN BROKERAGE ACCOUNTS CM-VI-. - Foreign Credit Balances (Due to Foreigners) 2 CM-VI-2. - Foreign Debit Balances (Due from Foreigners) 3 FINANCIAL OPERATIONS OF GOVERNMENT AGENCIES AND FUNDS FEDERAL CREDIT PROGRAMS GA-II-. - Direct Sales and Repurchases of Loans IIA GA-II-2. - Direct and Guaranteed Loans Outstanding 5 Cximulative Table of Contents 22 U.S. Note: Details of figures may not add to totals because of rounding.

12 IV Treasury Bulletin Treasury Financing Operations Auction of 2-Year Notes On November 2 the Treasury announced that it would auction $2,500 million of 2-year notes to refund $,370 million of notes held by the public maturing November 30, 976, and to raise $,30 million new cash. The notes offered were Treasury Notes of Series T- 978, to be dated November 30, 976, due November 30, 978, with interest payable semiannually on May 3 and November 30 in each year until maturity. A coupon rate of 5-3/4/^ was set after the determination as to which tenders were accepted on a yield basis, the average of which translated into an average accepted price close to Tenders for the notes were received until :30 p.m., EST, November 8, and totaled $4,22^ million, of which $2,803 million was accepted at yields ranging from 5.76^, price 99.98, up to 5.94^, price Noncompetitive tenders for $,000,000 or less from the public were accepted in full at the average yield of accepted tenders, 5.86^, price These totaled $38 million. In addition, $426 million of tenders were accepted at the average price from Government accounts and Federal Reserve Banks for their own account in exchange for securities maturing November 30, 976, ($36 million) and from Federal Reserve Banks as agents for foreign and international monetary authorities for new cash ($290 million). Tenders were received at Federal Reserve banks and branches and at the Bureau of the Public Debt, Washington, D. C. Bearer notes, with interest coupons attached, and notes registered as to principal and interest were authorized to be issued in denominations of $5,000, $0,000, $00,000, and $,000,000. Auction of 4-Year -Month Notes On November 23 the Treasury announced that it would auction $2,500 million of 4-year -month notes to raise new cash. The notes offered-were Treasury Notes of Series F-980, to be dated December 7, 276, due December 3, 980, with interest payable semiannually on June 30, and December 3 in each year until maturity. A coupon rate of 5-7/8^ was set after the determination as to which tenders were accepted on a yield basis, the average of whi ch translated into an average accepted price close to Tenders for the notes were received until :30 p.m., EST, November 30, and totaled $5,63 million, of which $2,504 million was accepted at yields ranging from 5.87St, price up to , price Noncompetitive tenders for$l,000,000 or less from the public were accepted in full at the average yield of accepted tenders, 5.956, price These totaled $502 million. In addition, $80 million of tenders were accepted at the average-yield price from foreign and international monetary authorities. Tenders were received at Federal Reserve banks and branches and at the Bureau of the Public Debt, Washington, D. C. Bearer notes, with interest coupons attached, and notes registered as to principal and interest were authorized to be issued in denominations of $,000, $5,000, $0,000, $00,000, and $,000, Dav Bills On November 29, tenders were invited for $2,000 million, or thereabouts, of 32-day Treasury bills, to be issued on December 0, 976. The bills will be an additional issue of bills dated October 2, 976, and maturing April 2, 977. Tenders were opened on December 7. They totaled $4,695 million, of which $2,000 million was accepted, including $28 million of noncompetitive tenders. The average iank discoxmt rate was Week Bills On December 2 tenders were invited for $3,253 million, or thereabouts, of 364-day Treasury bills to be dated December 4, 976, and to mature December 3, 977. Tenders were opened on December 8. They totaled $6,688 million, of which $3,253 million was accepted, including $69 million of noncompetitive tenders from the public and $999 million of bills issued at tbe average price to Government accounts and Federal Reserve Banks for themselves and as agents of foreign and international monetary autnorities. An additional $25 million of the bills were issued to Federal Reserve Banks as agents of foreign and international monetary authorities for new cash. The average bank discount rate was 4.708^. The issue was to refund $3,253 million of bills maturing December U, 976. This invitation for tenders was for the first series of 52-week Treasury bills to be issued, with a limited exception, in book- entry form only. During recent months, the Treasury and the Federal Reserve Banks have made considerable efforts to acquaint investors and financial institutions with details of the planned conversion to an exclusive book- entry system li>r. Treasury securities. A number of public meetings and special briefings were held in various parts of the country, and the reactions were such as to convince the Treasury that partial implementation could begin. Tie Treasury has made an exception to its exclusive book-entry offering of 52-week bills for investors who are still required by law or regulation to hold securities in physical form. Definitive bills in the $00,000 denomination will be available to such investors for a limited period of time.

13 December 9 J6 Treasury Financing Operations Continued Although the Treasury will not initially charge any fee for establishing or maintaining book-entry accounts on its records, it reserves the right to impose charges at a later date for services provided after original issue on future Treasury off^^rings of book-entry securities. The Treasury plans to convert the regiilar weekly issuance of 26-week bills to full book- entry form beginning in early June 977, with the conversion of 3-week bills to follow in September Week and 26-Week Bills Issues of regular weekly Treasury bills in November totaled $2^,800 million. These issues were offered for cash and in exchange for bills maturing in the same amount. There were three 3-week issues in the amount of $2,600 million and one 3-week issue of $2, 500 million. There were two 26-week issues in the amount of $3, 700 million and one 26-week issue each of $3,500 and $3,600 million. Average rates for the new issues are shown in the following table.

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15 December 976.FEDERAL FISCAL OPERATIONS. Table FFO-. - Summary of Fiscal Operations

16 .FEDERAL FISCAL OPERATIONS^ Treasury Bulletin Footnotes to Table FFO-. Soxipce: MDnthly Treasury Statenjent of Receipts and Outlays of the United States Covemnient. Note: Revised Budget estimates based on the 977 Budget update, released July 6, 976, are not available in the necessary detail, except for total net Budget receipts, outlays, and deficit. Other estimates are based on the I9'r7 Budget of the U.S. Government, released January 2, 976. i/ For detail see Table FFt)-2, ij For detail see Table FPO-3. 2/ As of July 3, 974, public debt outstanding has been adjusted to exclude the notes of the International Monetary Fund to conform with the budget presentation. V For detail see Table Fro-6, ^ Current fiscal year to date transactions through June 30, 97-;, are on the Daily Statement of the U.S. Treasury clearance date basis and are converted to accounting date basis at June 30 (final) only. Prior fiscal year amounts include transactions in transit as of June 30. For amounts in transit see Table FK)-0 in the October 97<; Bulletin. ^ As of July 974, balances shown under "Within general account of the 2/ 3/ 2/ 0/ / U.S. Treasury" are now presented in columns 9,, and 3. Represents holdings of special drawing rights, less certificates issued to Federal Reserve banks. Represents activity of the International Ifonetacy Fund. Includes: public debt accrued interest payable to the public, deposit funds, miscellaneous asset and liability accounts, and as of July 974, the gold balance. Includes: Seigniorage; increment of gold; fiscal 969 conversions of certain corporations to private ownership; fiscal 970 reclassification of Comroodlty Credit Corporation certificates of interest: fiscal 974 conversion of interest receipts of Government accounts to an accrual basis; and net outlays of off-budget Federal agencies (Export- Import Bank since August 7, 97, rural electrification and telephone revolving fund since May 2, 973, Postal Service fund since July 973, Federal Financing Bank since July 974, housing for the elderly or handicapped fund since August 22, 974, and Pension Benefit Guaranty Corporation since September 7, 974). For detail, see Table FD-6. Not available. ^ Revised. * I^ss than $500,000. Title V of the Congressional Budget Act of 974 (Public Law ) changed the fiscal year from July through June 30 to Oct. through Sept. 30, ooramenclng with the fiscal year 977 (Oct., 976, through Sept. 30, 977). The act also established a 3-month transitional period from July through Sep+. 30, 976, between fiscal years 9''6 and 977. Cumulative flgur'»s for the transition quarter are included in tables FFO- through FFO-4, FFO-6; UST-, USI-2;»E-; FD- through FD-8, FD-0; SB-2 through SB-5; SN-; OFS-; and GA-II-.

17 . December 976.FEDERAL FISCAL OPERATIONS, Table FFO-2. - Budget Receipts by Source (In millions of dollars) Fiscal year or month Net budget receipts Withheld / Other Net Income taxes Corporation Net income taxes T.Q.. 53, (Est. 975-Oot.. Nov. Dec. 976-Jan.. Feb.. Mar. Apr.. May.. June, July. Aug.. Sept Oct..

18 ,. 4 Treasury Bulletin.FEDERAL FISCAL OPERATIONS. Table FFO-2. - Budget Receipts by Source Continued (In millions of dollars) Social insurance taxes and contributions - Continued Excise taxes Fiscal year or month Net contributions for other insurance and retirement Federal supplementary employees Federal medical retirement insurance Other ret irement Net social insurance taxes and contribut ions Miscellaneous Airport and airway trust fund Refunds Net T.Q ,253,340,427,704,90, ,334,426,735,96 2,058 2,46 2,302 2,53 2, ,052 2,353 2,70 3,207 3,437 3,64 4,05 4,466 4,752,258 34,622 39,98 45,298 48,578 53,94 64,542 76,780 86,44 92,74 25,759 9,827 0,68 0,59 0,643 0,562 9,995 9,884 9,550 0, 753 2, (Est.) 2,62 2, ,970 3,052 0, Cct.. Nov.. Deo Jan.. Feb.. Mar... Apr,. May... June., July.. Aug Sept., Oct... IbO leo T ,206 7,994 5,565 6,430 9,63 6,635 9,349 2,8 6,97 7,068,64 7,077 6,99 905,

19 December 976.FEDERAL FISCAL OPERATIONS. LU O tr z> o CO >- ^ m 00 CO S o^

20 .. T;reasury Bulletin.FEDERAL FISCAL OPERATIONS, Table FFO-3. - Budget Outlays by Agency (In millions of dollars) Fiscal year or month Legislative branch The judiciary Executive Office of the President Funds appropriated to the President / Agriculture Department Commerce Department Defense Department Military / Health, Education, 4 Welfare Department Housing & Urban Development Department Interior Department 2/ Justice Department Labor Department ; T.Q 977 (Est, ei, ,93 4,967 4,774 4,540 4,269 3,733 4,05 3,572 3,525,22 4,52 7,307 8,330 8,307 8,560 0,943 0,028 9,767 9,725 2,796 3,850, ,028,88,250,368,455,583 2, ,l'x 77,373 77,870 77,50 74,546 75,50 73,297 77,625 85,420 88,036 2,926 99,985,300,268,2,376,530,703,682 2,05 2, ,2 40,576 46,594 52,338 6,866 7,779 82,042 93,735 2,4 28,785 34,34 43,542 4,40,529 2,603 2,890 3,642 3,592 4,786 7,488 7,079,307 7, ,36 225,256-2,236-4,88 2,62 2,293 2,rx4, ,80,53,797 2,067 2, ,26 3,272 3,475 4,356 7,923 0,033 8,639 8,966 7,649 25,742 5,905 2, Oct., Nov.. Dec. 976-Jan. Feb., Mar., Apr. May.. June. July. Aug.. Sept. Oct.. 59r r ,8:' 637,404,373, ,248,09,266, ,897r 7,09 7,458 7,272 6,792 ^;i^8 6,95 7,622 7,246 6,826 7,855 7, ,574 0,502 0,890 0,78 0,759,628,3 0,485 ; 39 U,234, 38,788, ,044, , IS? <;,94,883 2,285 2,367 2,72 2,498 2,07 i;883 2,035,909 2,25,782,459 Fiscal year or month State Department / Transportat ion Department Treasury Department Interest on the public debt J/ Other Energy Research and Devlp. Admin. A/ Environmental Protection Agency General Services Administration National Aeronautics and Space Admin. Veterans Adjninistration Otiier independent agencies 5/ Undistributed Offsetting Receipts 2/6/ Rents and Royalties on the Outer Continental Shelf lands Total ^6 T.Q 977 (Est.) ,06 36,078 5,732 5,970 6,47 7,247 7,53 8,83 8,2 9,247,936 3,003 2,84 4,573 6,588 9,304 20,959 2,849 24,67 29,39 32,665 37,063 8,02 43, ,792 6,674 8,52 7,272,598 6,979 2,466 2,450 2,453 2,275 2,392 2,393 2,307 3,98 3,759,05 5, ,4 2,032 2,530 3,8,08 4, ,72 4,247 3,749 3,38 3,422 3,3 3,252 3,267 3, ,675 6,858 7,669 8,653 9,756 0,70 U,968 3,337 6,575 8,45 3,957 7,754 7,337 4,890 7,246 8,879 9,886,449 2,945 7,255 8,286 5,527 2,880-2,428-2,662 -,3-4,000-4,499-5,7-6,380-7,376-7,858-8,379-9,893 -,670-2,042 -,255-2, 0.?^ 78,833 84,548 96,588 2,425 23, , , ,60 365,60 94, ,973 97% Oct.. Nov. Dec. 976-Jan. Feb.. Mar.. Apr. May.. June. July. Aug. Sopt. Oct.. tiur bf ,275,059, ,056 78, ,072,09 2,463r 3,046 3,30 3,93 3,093 3,207 3,209 3,223 3,43 3,754 2,862,436 2,870, , , , , ,55,623,699,627,689,674,68,569,254,35,385,222,382 l,698r,277,345,03,07,30,748,578,437 2,0,260 2,46 3, U * -7-4r ,074 -, ,078 -, ,323 -, ,493r 29,40 3,792 30,725 29,833 29,054 32,476 28,40 30,567 33,906 29,57 30,996 34,000 Source: Monthly Treasury Statement of Receipts and Outlays of the United States Government. Budget estimates are based on the 977 Budget update of the U.S. Government, released July 6, Note: Outlays consist of disbursements less proprietary receipts from the public and certain Intrabudgetary transactions. Agency shifts are shown in this table beginning with the period of such shifts; figures prior to the shifts have been adjusted. i/ Cumulative year to date figures may not add due to budget realignments. i/ Prior to January 975, Rents and Royalties on the Outer Continental Shelf lands were shown as proprietary receipts from the public for the Interior Department. To conform with the FY 976 Budget Document's presentation, these amounts were reclassified and are now being shown as undistributed offsetting receipts. Reported on an accrual basis. A/ Pursuant to Public Law , the activity for the Atomic Energy Commission other than nuclear regulatory and reactor safety research was transferred to the Energy Pesearch and Development Administration, Includes the U.S. Postal Service. 6/ For content see Table FFO-4. Revised.

21 December 976.FEDERAL FISCAL OPERATIONS. Table FFO-4. - Undistributed Offsetting Receipts

22 8.FEDERAL FISCAL OPERATIONS. Treasury Bulletin E (h to r- O 0 -H o^

23 December 976.FEDERAL nscal OPERATIONS. ry CNj IT* O qj T "8 9 _a e o o I o * *» u a >> 00 9 o s o 9 o Be, eg

24 , 0 Treasury Bulletin.FEDERAL FISCAL OPERATIONS. Table FFO-6. - Investment Transactions of Government Accounts in Federal Securities (Net) Health, Education, and Welfare Department (In millions of dollars) Housing and Urban Development Department Fiscal year or month Federal Old-Age and Survivors Insurance Trust Fund Federal Disability Insurance Trust F\md Federal Hospital Insurance Trust Fund Federal Supplementary Medical Insurance Trust Fund Government National Mortgage- Assn. Federal Housing Administration Participation Sales Fund T.Q 977 (Est,584 2,898 3,953,274,827 2,298 2,27 2,75 -,924-93,038 59,2,342, ,227-47? ,338 3,642,897,8 67 2, ? M Oct. Not. Dec, 976-Jaii. Feb. Mar. Apr., May., June July, A-Jg.. Sept Oct. -, ,87 -QOO -,252,349 -,00 -, , »r

25 December 976.FEDERAL FISCAL OPERATIONS,

26 I 2.FEDERAL OBLIGATIONS. Treasury Bulletin I "Obligations" axe the basis on which the use of funds of categories which are based upon the nature of the is controlled in the Federal Government. They are recorded transaction without regard to its ultimate purpose. All payments at the ixjlnt at which the Government makes a firm commitment to acquire goods or services and are the first of the four for salaries and wages, for example, are reported as personnel compensation, whether the personal services are used key events--order, delivery, payment, consumption--which in current operations or in the construction of capital items. characterize the acquisition and use of resources. In general, they consist of orders placed, contracts awarded, services received, and similar transactions requiring the disbursement of money. The obligational stage of Government transactions is a strategic point in gauging the Impact of the Government's operations on the national economy, since it frequently rep- Federal agencies and firms often do business with one another; in doing so, the "tuylng" agency records obligations, and the "performing" agency records reimbursements. In Table FO-, obligations that are incurred within the Government are distinguished from those incurred outside the Government. Tables FO-2, 3, and h show only those incurred outside. resents for business firms the Government commitment which Obligation data for stimulates business investment, including inventory purchases and employment of labor. Disbursements may not occur for months after the Government places its order but the order itself usually causes Immediate pressure on the private econonor. Obligations are classified according to a uniform set the administrative budget fund accounts were first published in the September I967 Treasury Bulletin and the trust fund accounts were first published in the October I967 Bulletin. Beginning with the April I968 Bulletin, the data are on the basis of the budget concepts adopted pursuant to the recomnendatlons of the President's Conmisslon on Budget Concepts. The June through October 976 Obligations data are not included in this issue due to certain unavoidable delays in processing. This dati will be published in subsequent Bulletins.

27 December ACCOUNT OF THE U.S. TREASURY. Source and Availability of the Balance in the Account of the U.S. Treasury The working cash of the Treasury is held mainly in 'Treasury's accounts with Federal Reserve banks and branches. As the balances in these accounts become depleted, they are restored by calling in (transferring) funds from the tax and loan accounts with thousands of commercial banks throughout the country. Deposits to tax and loan accounts occur in the normal course of business under a uniform procedure applicable to all banks whereby customers of banks deposit with them tax payments and funds for the purchase of Government securities. In most cases the transaction involves merely the transfer of money from a customer's account to the tax and loan account in the same bank. On occasions, to the extent authorized by the Treasury, banks are permitted to deposit in these accounts proceeds from subscriptions to public debt securities entered for their own account as well as for the account of their customers. The tax and loan account system permits the Treasury to leave funds in banks and in the communities in which they arise until such time as the Treasury needs the funds for its operations. In this way the Treasury is able to neutralize the effect of its fluctuating operations on bank reserves and the econony. A detailed description of the Treasury's depositary system may be found in the Annual Report of the Secretary of the Treasury for 973, pages Table UST-. - Status of the Account of the U.S. Treasury {In millions of dollars)

28 .,. 4.ACCOUNT OF THE U.S. TREASURY Treasury Bulletin Table UST-2. - Analysis of Changes in Tax and Loan Account Balances ^In millions of dollars) Balance Proceeds from sales of securities / rxiring period Fiscal year or month Savings bonds and savings notes 2/ Retirement plan and tax and loss bonds 2/ Tax anticipation securities Withheld, excise and corporation ^ Income (by special arrangement) 5/ Total credits Withdrawals End of period High Average T.Q 2,673 2,599 2,573 2,8U 3,309 3,26 3,095 3, QIO 9,538 0,408 3,043 6,954 6,443 4,43 8,255,54 9,576 5,47 3,640 2,42 9,369 6,58 87,383 90,79 23,906 32,460 3,2 45,797 7,828 97,09 28,49 225,20 58,457 2,583 42,333 5,72 53,346 64,920 85, , ,42 238,877 59,367 2,74 4,92 49,37 52,900 64,645 84,874 2, , ,494 58,05 4,3 4,525 6,929 7,372 7,634 8,433 6,52,473 2,856 4,8 8,0C4 9,7.d0 7,990 8,532 0,25 0,854 9,340 7,249 4,260 4,456, , ^'o7 4,9 4,329 4,022 5,46 5,648 5,644 3,93,853,394.57K 97<;-Eec 975-Mar. 975-Nov. Dec. 976-Jan Feb. Mar. Apr. May. June July Aug.. Sept. Oct.. Nov P;: 39 6' 20,857 2,526 5,220 2,646 5,78 7,296 22,239 22,202 7,860 26,543 7,63 8,474 22, 370 7,032 7,730 2,43 2,825 5,485 2,907 6,069 7,632 22,600 22,55 8,96 26,842 7,928 8,792 22,647 7)32 8,03 9,957 20,095 5,8 22,299 5,327 7,859 23,40 2,696 8,58 25,387 9,472 9,90 9,443 9,625 7,932 2,749 2,40,555,63,905, ,723,40 2,856 l,jl2 94 4,8,605,886 3,85 3,735 2,93 4,063 2,202 2,963 3,233 2,690 2,789 4,260 2,59 2,92 4,456 2,39 2, , ,097,392,394,63,3,959,40,058,50,793,200,469 2,066, Source: Office of Fiscal Afleistant Secretaiy; figures are on basis of telegraphic reports / Special depositaries are permitted to malte payment in the form of a deposit credit for the purchase price of U.S. Government securities purchased by them for their own account, or for the account of their customers who enter subscriptions through them, when this method of payment is permitted under the terms of the circulars inviting subscriptions to the issues. 2/ United States savings notes first offered for sale as of May, 967 and were discontinued after June 30, 970. ^ Retirement plan bonds first offered for sale as of Januaiy, 963; tax and loss bonds first issued in March 968. y Taxes eligible for credit consist of those deposited by taxpayers in 5/ ^ the depositary banks, as follows: Withheld income taxes beginning March 948; taxes on emplcyers and employees under the Federal Insurance Contributions Act beginning January 950, and under the Railroad Retirement Tax Act beginning July 95; a number of excise taxes beginning July 953; estimated corporation income taxes beginning April 967; all corporation income taxes due on or after March 5, ^d6 and FUTA taxes beginning April 970. Under a special procedure begun in March 95, authorization was given during certain periods for income tax payments, or a port "on of them made by checks of 50,000 or more drawn on a special depositaiy bank, to be credited to the tax and loan account in that bank. Ihis procedure was discontinued in April 967. Credits erroneously allowed in one Federal Reserve district. I

29 . ACCOUNT December OF THE U.S. TREASURY, Table UST-3. - Gold Assets and Liabilities of the Treasury (-In millions of dollars except ounces) End of calendar year or month

30 . 6.MONETARY STATISTICS. Treasury Bulletin Table MS-. - Currency and Coin in Circulation I" In millions of dollars except per capita figures) i^(a a T.Q 97*-Dec 975-Mar. End of fiscal year or month Federal Reserve bank notes National bank notes Currencies no longer issued Gold certificates 2/ Silver certificates Federal Reserve notes 2/ Treasury notes of 890 Currencies presently being issued / United States notes Federal Fe serve notes ^ 4,722 44,547 47,626 5,304 54,572 59,664 65,85 72,093 79,028 79,597 70,804 69,5 Total currencies 42,33 45,46 48,223 5,922 55,84 60,273 65,793 72,700 79,634 80,20 7, ai 69, Oct. Nov. Dec, 976-Jan. Feb. Mar. Apr. May. June July Aug. Sept Oct r Q ,896 75,074 76,98 73,69 74,265 75,854 76,758 77,882 79,028 79,069 79,57 79,597 80,33 73,503 75,680 77,588 74,297 74,87 76,459 77,364 78,487 79,634 79,673 80,75 80,20 80,96 End of fiscal year or month Fractional coin Total Oirrency and Coin in circulation ^' Currency and Coin circulation per capita in dollars) 6/ T.Q 974-Dec. 975-Mar ,827 5,308 5,646 5,990 6,383 6,793 7,275 7,68 8,303 8,397 7,539 7,535 5,309 5,790 6,28 6,472 7,06 7,498 8,040 8,496 9,244 9,348 8,33 8,339 50,936 54,35 58,393 62,20 67,77 73,833 8,96 88,877 89,548 79,743 78, V Oct. Nov. Dec. 976-Jan. Feb. Mar. Apr. May. June July Aug. Sept Oct ,906 7,980 8,056 8,023 8,04 8,4 8,87 8,235 8,303 8,33 8,372 8,397 8,422 8,774 8,865 8,960 8,934 8,960 9,038 9,8 9,70 9,244 9,275 9,320 9,348 9,377 82,277 84,545 86,547 83,23 83,83 85,498 86,48 87,657 88,877 88,948 89,494 89,548, 90,293 2/ r r r Source: Statement of United States Currency and Coin. i/ Excludes gold certificates. Series of 934, which are Issued only to Federal Reserve banks and do not appear in circulation. 2/ Issued prior to January 30, / Issued prior to July, 929. i/ Issued on and after July, / Excludes Currency and Coin held by the Treasury and Currency and Coin held by or for the accoxmt of the Federal Reserve banks and agents. Based on the Bureau of the Census estimated population. Highest amount to date. Less than $500,000. r Revised.

31 December FEDERAL DEBT. Table FD-. - Summary of Federal Debt (In millions of dollars) End of fiscal year or month

32 8 FEDERAL DEBT. Treasury Bulletin Table FD-3. - Interest-Bearing Public Debt

33 December FEDERAL DEBT. Table FD-5. - Government Account Series (In millions of dollars) End of fiscal year or month BbS T.^ 974 -Dec Mar. 975-Nov. Dec. 976Jan. Feb. Mar. Apr, May. Jvine July, Aug., Sept Oct., Nov. 54,526 66,790 76,323 82,784 89,559 0,738 5,442 24,73 30, ,640 9,073 6,82 7,486 9,385 9,04 20,05 9,438 9,453 24, ,557 28,92 30,59 28,640 27,62 27,405 Airport and Airway trust fund Exchange Stabilization Fund Federal Deposit Insurance Corporation TTT ,367 2,692 3, ,079,840,832,956 2,354 2,352 2,327 2,67 2,692 2,770 3,562 3,429 3,453 3,658 Federal employees retirement funds 5,665 7,354 8,93 2,644 24,69 27,894 3,20 35,525 40,383 39,607 3,250 3,05 34,546 35,45 35,290 35,064 34,907 34,635 34,36 40,383 40,095 39,928 39,607 39,278 39,077 Federal disability insxirance trust fund Federal Energy Administration 3,042 4,435 5,73 6,697 7,488 7,880 7,843 6,66 6,38 7,83 7,639 6,792 7,04 6,823 6,672 6,598 6,602 6,59 6,66 5,362 6,20 6,38 5,758 5,40 Federal Home Loan Banics "T5T Federal hospital insurance trust fund,25'^,890 2,583 2,980 2,834 4,72 7,84 9,7 0,892 0,959 9,068 9,259 9,409 0,450 0,348 0,398 0,525 0,552 0,429 0,392 0,656 0,643 0,959 0,566 0,276 Federal old-age and survivors insurance trust fund 5,22 2,986 25,939 27,248 29,26 3,424 33,540 35,85 33,39 32,978 33,623 34,95 32,949 32,772 3,929 32,927 32,232 32,929 34,800 33,89 32,639 33,988 32,973 3,84 3,04 878,936 2,529 2,72,387,65 2,6 2,20 2,256 2,292 2,338 2,382 2,400 2,529 2,588 2,549 2,72 2,779 2,850,242,424 2,934 2,364,45,52, ,480,485,49 86,50,503,507,52,58,522,529,534,50.72,20,485,590,704,77,75,72,738 End of fiscal year or month

34 20 Treasury Bulletin.FEDERAL DEBT. Table FD-. - Interest-Bearing Securities Issued by Government Agencies (In millions of dollars) * End of fiscal year or month Total amount outstanding / Defense [Jepartment Family housing and homeowners assistance Housing and Urban Development Department Federal Housing Administration Government National Mortgage Association Federal National Mortgage Assoc, g/ Secondary market operations E xport - Import Bank of the United States Other independent agencies Fann Credit Administration Bank for cooperatives 2/ Federal intermediate credit banks 2/ Federal Home Loan Bank Board A T.Q 24,399 4,249 2,50 2,63 0,894,09 2,02 0,943 0,853,047,95,863,775,683,588,484,382,276,7, ,900 8,600 7,320 6,005 4,920 4,480 4,370 4,260 4,80 4,U5 5,887 2,57 2,472,893 2,625,89 2,22 2,894 2,593 2,593 2,960, Dec Mar.,323,028,32, ,280 4,280 2,893 2,593 9?5-Oct. Nov. Dec. 0,926r 0,928 0,904,242,233, ,225 4,225 4,200 2,588r 2,593 2, Jaii. Feb. Mar. Apr. May. June 0,902 0,907 0,90 0,870 0,86 0,853,2,203,94,84,76, ,200 4,200 4,200 4,80 4,80 4,80 2,593 2,593 2,593 2,593 2,593 2,593 July. Aug.. Sept. Oct.. 0,74,066,047,673,64,52,36, ,U5 4,U5,U5 4,U5 2,593 2,960 2,960 3,585 Other independent End of fiscal year or month

35 December FEDERAL DEBT. Table FD-7. - Participation Certificates

36 22 Treasury Bulletin FEDERAL DEBT. Table FD-8. - Debt Subject to Statutory Limitation

37 : December FEDERAL DEBT. Table FD-9. - Status and Application of Statutory Limitation The Second Liberty Bond Act (3 U.S.C. 757b), as amended. The Act of June 30, 967 (Public Law 90-39) provides provides that the face amount of obligations issued under that the face amount of beneficial interests and participaauthority of that Act, and the face amount of obligations tions issued under section 302 (c) of the Federal National guaranteed as to principal and interest by the United States, Mortgage Association Charter Act (2 U.S.C. 77 (c)) during shall not exceed in the aggregate $400 billion outstanding the fiscal year 968 and outstanding at any time shall be at any one time. Public Law g-i-ss'v provides that beginning added to the amount otherwise taken into account in deteron October, 976, and ending on March 3, W7, the public mining whether the requirements of the above provisions are debt limit shall be temporarily increased by $282 billion. met. Part A. - Status Under Limitation November 30, 976 (In millions of dollars) Publi : debt subject to limit: Public debt outstanding JftM.Aig Less amounts not subject to limit: Treasury 62 Federal Financing Bank (*) Total public debt subject to limit 6W,027 Of-ier debt subject to liiiit: Guaranteed debt of Ooverninent agencies 60? Specified participation certificates ^>3^ Total other debt subject to limit Total debt subject to limit 645,767 Statutory debt limit 682,000 Balance of statutory debt limit 36,233 I,7<i0 Part B. - Application of Statutory Limitation November 30, 976 (In millions of dollars) Classifications Amount outstanding InterssVbearing debt: Marketable: Bills: Trehisucy Not!>s: Treas ury Bonds Treas ury Total marketable Nonmarke table: Depositary series Foreign goverrment series; Dollar denominated Foreign currency denominated Government account series Investment series R.E.A. series State and local governjnent series United States individiial retirement bonds United States retirement plan bonds United States savings bonds United States savings notes Total nonmarketable Total interes t-bearing debt Non-interej b~bearing debt; Matured debt Other Total ion-interest- bearing debt Total public debt outstanding; $6,7 22,986 40,702 45,399 20,908,579 27,405 2,262 () 4, , , ^Q7 644,539 Sojrie: Monthly Statement of the Public Debt of tae United States.» $500 thousand or less.

38 24 Treasury Bulletin FEDERAL DEBT. Table FD-0. - Treasury Holdings of Securities Issued by Government Corporations and Other Agencies (In millions of dollars) fiscal year or month Agency for International Development / Federal Financing Bank Federal Home Loan Bank Board Agricultxire Department Commodity Credit Corporation Rural Electrification Administration Secretary: Farmers Home Administration Programs 2/ Export- Import Ban]i of the United States J/ Housing and Urban Development Department Office of the Secretary College housing loans Urban renewal fund Other A T.Q I)ec. 975-Mar. 975-Nov.. Dec 976-Jan.. Feb.. Mar.. Apr.. May.. Jime. July. Aug.. Sept. Oct.. Nov.. 27,040 28,6A 30,65 3,9-U 33,939 34,237 35,434 44,674 53, ,553 4, '089 48,577 5,435 52,876 53,600 53,232 54,086 53,09 55,680 56,366 57,374 56,074 56, ,466 22,43 25,664 3,050 6,737 6,686 7,274 9,346 20,97 2,706 22,036 22,736 22,43 24,49 25,052 25,834 26,36 26,524,247,534,49 695,039,558,559,534,534,534,534 i,534,534,49,49,49,372,372,989 2,5 2,262,977,50 0,864 8,608 5,046 2,840 ^,556 5,48 4,620?,627 2,3U 2,30 2,393 2,497 2,573 2,676 2,840 3,002 3,35 3,556 2,393 2,949 4,770 5,045 5,328 5,746 6,05 6,563 6,963 7,409 7,52 7,409 7,207 7,207 7,438 7,502 7,59 7,548 7,409 7,447 7,47 7,52 7,536 7,569 7,409 7,453 7,489,454,583,46,39,606,60 2,545,482,77,867 2,570 2,570,482,482,482,682,682,682,682,77,77,792,867,892, , ,743,888 2, ,23 3, , ,400 2,450 2,78 2,8 2,8 2,8 2,8 2,6 2,8 2,8 2,8 2,8 2,8 2,8 2,8 2,8 2,8 2,8 2,8 2,8 2,8 2,8 2, GG

39 . September December FEDERAL DEBT. Footnotes to Table FD-0. Source: Bxireau of Government Financial Operations. Note: These securities were issued to the Treasury in exchange for advances hy the Treasury from public debt receipts under congressional authorizations for specified Government corporations and other agencies to borrow from the Treasury. Fxn-ther detail may be found in the \'^'? Statistical Appendix to Annual Report of the Secretary of the Treasury, pages 35'i-357, and the 975 Combined Statement of Receipts, Expenditures and Balances of the United States Government, pages l/ And predecessor agencies. Beginning fiscal 957 figures exclude notes previously issued ty the Administrator in connection with informational media guaranties. The obligation for these notes was assumed by the Director of the United States Information Agency, pursuant to the act approved July IS, 956 (22 U.S.C. U42), and the notes together with others issued for the same purpose are included in "Other." 2/ Farm housing and other loan programs, Agricultural Credit Insurance Fund (formerly Farm Tenant Mortgage Insurance Fund), Rural Housing Insurance Fund, and Rural Development Insurance Fund. 2,/ Includes securities transferred from the Reconstruction Finance Corporation, ^ Consists of notes issued to borrow for: public facility loans; Low Rent Public Hoxjsing Fxind; and advances for National Flood Insurance Fund. 5/ Consists of liabilities taken over by the Association from the Secretary in accordance with the act approved Augiist 2, 954, and notes issued t?y the Association under authority of that act (2 U.S. C. 79 (c), 720 (d), and 72(d)) and also securities transferred from the Reconstruction Finance Corporation, 6/ Public Housing Administration ; Federal Housing Administration beginning January 966; Housing Assistance Administratior from September 968-December / Consists of notes of; The Administrator, General Services Administration, for defense materials procurement; the Secretary of Agriculture; the Secretary of the Interior (Defense Minerals Exploration Administration); and the Secretary of tlie Treasury through May / Consists of notes issued liy the: United States Information Agency for informational media guaranties (see footnote ); Secretary of Commerce (Maritime Administration) for the Federal Ship Mortgage Insurance Fund, fiscal years and Federal Ship Financing Fund (NOAA), beginning December 972; Virgin Islands Corporation from September September 968; District of Columbia Commissioners for the Stadium Sinking Fxind beginning December 97; Secretary of the Interior (Bxu^eau of Mines) for development and operation of helium properties beginning May 964; Bureau of Commercial Fisheries for Federal Ship Mortgage Insurance Fund, Fishing Vessels from January May 967; and revenue bonds for Smithsonian Institution (John F. Kennedy Center Parking Facilities) beginning July 968; Secretary of Transportation (Washington Metropolitan Area Transit Authority) beginning December 972; Health, Education, and Welfare, Office of Education (Student Loan Insurance Fund) from May August 973; Pension Benefit Guaranty Corporation from September 9 74; Federal Railroad Administration, rail service assistance, beginning January 976, and regional rail reorganization, April, 976, 2/ Outstanding loans cancelled pursuant to Public Law , dated 30, 974.

40 .,,.... F 26 Treasury Bulletin PUBLIC DEBT OPERATIONS. Table PDO-. - Maturity Schedule of Interest-Bearing Marketable Public Debt Securities Other than Regular Weekly and 52-Week Treasury Bills Outstanding November 30, 976 {In millions of dollars) Year and month of final natiirity / Description Total Amount of maturities Held by 2/ - U.S. Govt, accounts and Federal Reserve banks All other investors Year and month of final maturity / Description Amount of maturities Held by, U.S. Govt, accounts and Federal Reserve banks 976 Dec. 977 Feb. Mar., Apr. May., June. July. Aug.. Sept. Get.. Nov. Dec. 978 Jan.. Fet).. Mar.. Apr.. May., June. July. Aug.. Sept. Oct.. Nov. Dec Feb.. Apr.. May.. June. Aug.. Sept. Oct.. Nov.. Dec. 980 Feb.. Mar.. Apr.. May.. June. Aug.. Sept. Oct.. Nov.. 7-lA«S% b% b-l/2f, -/2* 7-3/8* 6-7/85S 9* (>-im 6-/2* 7-/2* 7-3/4* 8-/4* 8-3/8* -/2* 7-/2* 7-3/4* 6-5/8* Total.. 6-3/8* 6-/4* 6-3/4* -/2* 6-/2* 7-/8* 7-7/8*. 7-/8* 7* -/2* 7-7/8* 7-3/4* 6-/4* 6-7/8* 8-/2* -/2* 6-5/8* 7* 6-/4* 7-/2* Total.. 4* 7-/2* a-/2* 6-7/8* 7-5/8* 9 6-7/8* -/2* 3-/2* Total.. Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note 6-7/8* Note - 6-7/8* 8-3/4* 7-5/8* 6-5/8* 6-/4* -/2* 5-7/8* 6* 5-3/4* 8-/8* Total.. Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note Note Bond Note Note Note Note Note Note Note Note 2/3/76 -K 2/5/77-A 2/28/77-F 3/3/77 -G 4//77-EA 4/30/77-H 5/5/77-C 5/5/77 -D 5/3/77-6/30/77-J 7/3/77-K 8/5/77 -B 8/3/77-L 9/30/77 -M 0//77-EO 0/3/77 -N /5/77-E /30/77-Q 2/3/77-P /3/78-J 2/5/78-A 2/28/78-G 3/3/78-K 4//78-EA 4/30/7S-L 5/5/78-D 5/5/78-F 5/3/78-M 6/30/78-N 7/3/78 -P 8/5/78-C 8/5/78-E 8/3/78-Q 9/30/78-R 0//78-EO 0/3/78 -S /5/78-B /30/78-T 2/3/78-H 2/5/79-H 4//79-EA 5/5/79-D 6/30/79-E 8/5/79-A 8/5/79-J 9/30/79-F 0//79-EO /5/79-B /5/79-C /5/79-K 2/3/79-G 2/5/80 3/3/80-C 4//80 -EA 5/5/80-A 6/30/80-D 8/5/80-B 9/30/80 -E 0//80-EO /5/80 5,63,665 2,576 5,579 2,565 5,329 2,37 2,70,56 4,98 2,02 3, ,56 3,630 2,6.::3 2,765 47,066 2,5 8,389 2,5 3,62 5 2,574 3,960 4,423 2,567 3,33 2,855 2,462 5,55 2,949 3,95 3 2,92 8,207 2,938 2,57 66,249 4, ,269,782 4,559 2,989 2,08,604 2,24 3,376 2,006 27,602 2,508 2, ,265 2,85 4,296 2,4,759 22,228 3, , , , , , , , , ,347, , , , , , ,0 2,07 2,07,58 2,077 5,495,980 2,336,966,9,457 3,243,00 3,8 7 2,990 2,395 2,54 2,502 35,586 2,26 5,027 2,057 2, ,28 3,054 2,923 2,47 2,69 2,720,83 2,607 2,893 2, ,757 4,602 2,802 2,364 50,902 3,002 2,779,74 2,80 2,25, ,806 3,237,96 20,86,584,968 2,70,967,627 2,26 3,40 2,27 98 Feb Apr... May Aug Oct..., Nov.. Feb.. May.. Aug.. Nov. 983 Feb.. June. Nov. 934 Aug. May. 986 May. Aug. Nov. 990 Feb. May. 992 Aug. 993 Feb. Aug. 994 May. 995 Feb. 998 May. Nov. 999 May Feb. Aug. 200 Aug May. 7-3/8t. -/2* 7-3/8* 7* 7-5/8* -/2* 7-3/4* 7* Total.. Note Note Note Note Bond Note Note Note Note 6-3/8* Bond 8* Note 8-/3* Note 7-7/8* Note Total 3-/4* 7* Total Note Bond 2/l"./Sl-A 2/5/8-C 4A/8-EA 5/5/a-D 8/5/8 8/ 5/8- loa/8-eo /5/8-B /5/8-G 2/5/82 5/5/82-A 8/5/82-B /5/82-C 2/5/83-A 6/5/78-83 Note - / 5/8 3 -B 6-3/8* Bond 8/5/=!4 3-/4* Bond - 5/5/85 4-/4* Bond - 5/5/77-5/ 5/,'? 5 Total 7-7/8* Note - 5/5/86-A 8* Note - 8/5/86-B 6-/8* Bond - /5/86 Total 3-/2* Bond - 2/5/90 8-/4* Bond - 2/5/90 Total 4-/4* Bond - 8/5/ * Bond - 2/5/ /4* Bond - 2/5/93 7-/2* Bond - 8/5/88-93 Total 4-/8* Bond - 5/5/ * Bond - 2/5/95 7* Bond 3-/2* Bond Total 5/5/93-98 /5/98 8-/2* Bond - 5/5/ /8* Bond 8-3/8* Bond Total 2/5/ /5/ * Bond - 8/5/ /4* Bono - 5/5/U0-05 I.''-- 4,7Qb 2, ,586 4,477 2,543 9,07 2,702 2,747 2,98 2,902,269 7,956,336 2,309,603 2,353 88,067,885 5,29 9,55,26 5,950 3,07,247 4,354 3, ,94 2,732, ,28 2,44 2,77 2,265 5,036,575 2, ,85 3,794,050,42, ,62 2, ,338, , , ,243, ,056, ,380,25 Source: Dally Treasury statement and Office of GovemnBnt Financing In the Office of the Secretary. / For Issue date of each security, see "Market Quotations on Treasury Securities." 2/ Beginning with February 969 Treasury Bulletin, the definition of U.S. Government accounts and all other investors is in coni'ormity with the unified budget concept. 3/ Treasury Notes, 7-3/8* Series C-98 and 7-3/8* Series E-98 consolidated effective Sept., 976.» I^ess than $500,000.