Government Securities Market
Government securities consist of debts issued by the government to finance its borrowings that are issued by the United States Department of the Treasury. The four types of marketable treasury securities include bills, notes, bonds and Treasury Inflation Protected Securities (TIPS).
The difference between the four marketable treasury securities lies in their length of maturity. Treasury bills mature anywhere from a few days to 52 weeks and are sold discounted from their face value. Treasury notes are issued for a longer term, 2, 3, 5, 7 or 10 years and pay interest every six months. Treasury bonds mature for the longest amount of time, 30 years, and also pay interest every six months, while TIPS have principal which adjusts based on changes in the Consumer Price Index (CPI). TIPS also pay interest every six months and can be issued to mature in 5, 10 or 30 years.
This collection holds speeches, studies, data and other historical documents relating to the U.S. government securities market.
Annual Report of the Secretary of the Treasury on the State of the Finances
Description:
The Department of the Treasury was established in 1789. These annual reports also contain the reports of the many departments of the Treasury, including the Bureau of the Mint, Bureau of Engraving and Printing, Bureau of Customs, Office of the Comptroller of the Currency, Secret Service, and the Internal Revenue Service.
Statistical Appendices for the years 1968-1980 are included.
Most of the reports for the years 1790-1844 were bound together into four volumes with combined indexes at the end of each volume. The index for the volume and table of contents listing the reports contained in that volume are included in the pdfs for the applicable years. Additionally, reports for the years 1789, 1792-1794, and 1796-1800 were downloaded from the American State Papers, digitized by the Library of Congress.
In the report for 1842, there is a notation that an act to establish a fiscal year for the United States was approved on August 26, 1842.
SUDOC:
T 1.1:
OCLC:
8067332, 4176674
Citation:
United States. Dept. of the Treasury, ([year]), Annual Report of the Secretary of the Treasury on the State of the Finances, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=194
Authors:
Topics:
- Annual Reports
- Data and Statistical Publications
- Data Publications
- Government Debt
- Government Securities Market
Related Publications:
Automating Government Securities Market Operations: Staff Study
Description:
A study prepared by Felix T. Davis and M. J. Hoey, of the Federal Reserve Bank of New York, in conjunction with a joint Treasury-Federal Reserve study of the Government securities market. This study was initially published in December 1966 and revised June 1969.
OCLC:
1539262
Citation:
Davis, Felix T. and Hoey, M. J., ([year]), Automating Government Securities Market Operations: Staff Study, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=320
Authors:
Topics:
Related Publications:
Changing Structure of the Dealer Market in Government Securities: Staff Study
Description:
A study prepared by Paul Meek, Assistant Vice President at the Federal Reserve Bank of New York, in conjunction with a joint Treasury-Federal Reserve study of the Government securities market.
OCLC:
1971256
Citation:
Meek, Paul, ([year]), Changing Structure of the Dealer Market in Government Securities: Staff Study, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=330
Authors:
Topics:
Related Publications:
Dealer Profits and Capital Availability in the U.S. Government Securities Industry, 1955-1965: Staff Study
Description:
A study prepared by William G. Colby, Jr., Economist at the Federal Reserve Bank of New York, in conjunction with a joint Treasury-Federal Reserve study of the Government securities market.
OCLC:
2065784
Citation:
Colby, William G., ([year]), Dealer Profits and Capital Availability in the U.S. Government Securities Industry, 1955-1965: Staff Study, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=329
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Direct Purchases of Government Securities by Federal Reserve Banks: Hearing... on H. R. 2233, Superceded by H. R. 2413, An Act to Amend the Federal Reserve Act, and for Other Purposes
Description:
Considers legislation to make permanent Federal Reserve bank authority to purchase Government securities directly from Treas Dept, and to remove Federal Reserve bank branch construction cost limits.
Considers (80) H.R. 2233, (80) H.R. 2413
SUDOC:
Y 4.B 22/1:Se 2
OCLC:
62654212
Citation:
United States. Congress. House. Committee on Banking and Currency, ([year]), Direct Purchases of Government Securities by Federal Reserve Banks: Hearing... on H. R. 2233, Superceded by H. R. 2413, An Act to Amend the Federal Reserve Act, and for Other Purposes, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=723
Authors:
Topics:
Effects of Operations in Coupon Issues on Interest Rates and Flows of Funds over Shorter Time Intervals: Staff Study
Description:
A study prepared by Jack C. Rothwell, Economist at the Federal Reserve Bank of Philadelphia, in conjunction with a joint Treasury-Federal Reserve study of the Government securities market.
OCLC:
3701847
Citation:
Rothwell, Jack C., ([year]), Effects of Operations in Coupon Issues on Interest Rates and Flows of Funds over Shorter Time Intervals: Staff Study, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=323
Authors:
Topics:
Related Publications:
Federal Agency Debt and Its Secondary Market: Staff Study
Description:
A study prepared by Janice Peskin, Economist at the Board of Governors of the Federal Reserve System, in conjunction with a joint Treasury-Federal Reserve study of the Government securities market.
OCLC:
1963470
Citation:
Peskin, Janice, ([year]), Federal Agency Debt and Its Secondary Market: Staff Study, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=326
Authors:
Topics:
Related Publications:
Federal Reserve Bank of New York Circulars
Description:
Each District Bank of the Federal Reserve System issues a series of informative circulars to their member banks. The circulars describe the New York Fed's history, evolution, and responses to historical events. They address topics key to the Bank's mission---community relations, bank services, and supervision and regulation---and describe the Bank's procedures, processes, and corporate culture since the inception of the Federal Reserve System.
Circulars for 1996-present are available from the website of the New York Fed: http://www.newyorkfed.org/banking/circulars/.
OCLC:
12386162
Citation:
Federal Reserve Bank of New York, ([year]), Federal Reserve Bank of New York Circulars, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=466
Authors:
Topics:
Financial and Economic Environment of the 1960's in Relation to the U.S. Government Securities Market: Staff Study
Description:
A study prepared by Edward C. Ettin and Carl H. Stem, Economists at the Board of Governors of the Federal Reserve System, in conjunction with a joint Treasury-Federal Reserve study of the Government securities market.
OCLC:
1971219
Citation:
Ettin, Edward C. and Stem, Carl H., ([year]), Financial and Economic Environment of the 1960's in Relation to the U.S. Government Securities Market: Staff Study, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=321
Authors:
Topics:
Related Publications:
Government Securities Market Performance in the Wake of Official Operations in Coupon Issues Day-to-Day Performance: Staff Study
Description:
A study prepared by Louise Freeman Ahearn, Economist at the Federal Reserve Bank of New York, in conjunction with a joint Treasury-Federal Reserve study of the Government securities market.
OCLC:
3701812
Citation:
Ahearn, Louise Freeman, ([year]), Government Securities Market Performance in the Wake of Official Operations in Coupon Issues Day-to-Day Performance: Staff Study, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=322
Authors:
Topics:
Related Publications:
Government Securities Market and Economic Growth.
Description:
Statement before the Joint Economic Committee.
Date:
07/17/1959,
Citation:
Martin, William McChesney, Jr., 1959, Government Securities Market and Economic Growth., from William McChesney Martin Jr. Document Collection, accessed Jun 19, 2013 from FRASER, http://fraser.stlouisfed.org/docs/historical/martin/martin59_0727.pdf
Authors:
Government Securities Reform: Hearings before the Subcommittee on Telecommunications and Finance of the Committee on Energy and Commerce, House of Representatives, One Hundred Third Congress, First Session on H.R. 616 and H.R. 618, Bills to Amend the Securities Exchange Act of 1934 and to Extend and Revise Rulemaking Authority with Respect to Government Securities under the Federal Securities Laws, March 17 and 30, 1993
Description:
Hearings on H.R. 616 and H.R. 618 bills to amend the Securities Exchange Act of 1934 and to extend and revise rulemaking authority with respect to government securities under the federal securities law.
SUDOC:
Y 4.EN 2/3:103-22
OCLC:
28873675
Citation:
United States. Congress. House, ([year]), Government Securities Reform: Hearings before the Subcommittee on Telecommunications and Finance of the Committee on Energy and Commerce, House of Representatives, One Hundred Third Congress, First Session on H.R. 616 and H.R. 618, Bills to Amend the Securities Exchange Act of 1934 and to Extend and Revise Rulemaking Authority with Respect to Government Securities under the Federal Securities Laws, March 17 and 30, 1993, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=737
Authors:
Topics:
Inflation and Interest Rates on Government Securities
Description:
Second draft
Date:
Circa 1950,
Citation:
1950, Inflation and Interest Rates on Government Securities, from William McChesney Martin Jr. Document Collection, accessed Jun 19, 2013 from FRASER, http://fraser.stlouisfed.org/docs/historical/martin/15_04_nd2.pdf
Institutional Investors and the U.S. Government Securities Market: Staff Study
Description:
A study prepared by Joseph Scherer, Economist at the Federal Reserve Bank of New York, in conjunction with a joint Treasury-Federal Reserve study of the Government securities market.
OCLC:
1963502
Citation:
Scherer, Joseph, ([year]), Institutional Investors and the U.S. Government Securities Market: Staff Study, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=324
Authors:
Topics:
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Interest Received by Banks on their Holdings of Government Securities
Date:
1935/xx/xx,
Citation:
Board of Governors of the Federal Reserve System (U.S.)?, 1935, Interest Received by Banks on their Holdings of
Government Securities, from The Marriner S. Eccles Document Collection, accessed Jun 19, 2013 from FRASER, http://fraser.stlouisfed.org/docs/historical/eccles/014_04_0003.pdf
Authors:
Joint Statement Relating to the Treasury-Federal Reserve Study of the Government Securities Market
Date:
07/24/1959,
Citation:
Anderson, Robert B. and Martin, William McChesney, Jr., 1959, Joint Statement Relating to the Treasury-Federal Reserve Study of the Government Securities Market, from William McChesney Martin Jr. Document Collection, accessed Jun 19, 2013 from FRASER, http://fraser.stlouisfed.org/docs/historical/martin/25_04_19590724.pdf
Authors:
Joint Treasury-Federal Reserve Study of the U.S. Government Securities Market
Description:
This study was initiated in early 1966 in order to evaluate how the U.S. Government securities market was functioning in light of the institutional and public policy changes that took place in the first half of the 1960s. The study was carried out under a Steering Committee chaired by William McChesney Martin, Jr.
Part 1 discusses the overall study and its findings. Parts 2 and 3 contain a selection of individual staff studies; these and other staff studies are also available on FRASER as individual publications.
Digitized by Internet Archive in cooperation with the U. S. Department of the Treasury, Treasury Library.
SUDOC:
FR 1.2: Se 3/2
OCLC:
4394805
Citation:
Board of Governors of the Federal Reserve System (U.S.) and United States. Dept. of the Treasury, ([year]), Joint Treasury-Federal Reserve Study of the U.S. Government Securities Market, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=318
Authors:
Topics:
Related Publications:
- Automating Government Securities Market Operations: Staff Study
- Changing Structure of the Dealer Market in Government Securities: Staff Study
- Dealer Profits and Capital Availability in the U.S. Government Securities Industry, 1955-1965: Staff Study
- Effects of Operations in Coupon Issues on Interest Rates and Flows of Funds over Shorter Time Intervals: Staff Study
- Federal Agency Debt and Its Secondary Market: Staff Study
- Financial and Economic Environment of the 1960's in Relation to the U.S. Government Securities Market: Staff Study
- Government Securities Market Performance in the Wake of Official Operations in Coupon Issues Day-to-Day Performance: Staff Study
- Institutional Investors and the U.S. Government Securities Market: Staff Study
- Market Performance as Reflected in Aggregative Indicators: Staff Study
- New Techniques in Debt Management since the Late 1950's: Staff Study
- Position of Nonbank Dealers when Treasury Securities are Issued with Payment Permitted in Tax and Loan Accounts: Staff Study
- Techniques of the Federal Reserve Trading Desk in the 1960's Contrasted with the "Bills Preferably" Period: Staff Study
- Views of the U.S. Government Securities Dealers: Staff Study
Market Performance as Reflected in Aggregative Indicators: Staff Study
Description:
A study prepared by Louise Ahearn and Janice Peskin, Economists at the Board of Governors of the Federal Reserve System, in conjunction with a joint Treasury-Federal Reserve study of the Government securities market.
OCLC:
2045677
Citation:
Peskin, Janice and Ahearn, Louise Freeman, ([year]), Market Performance as Reflected in Aggregative Indicators: Staff Study, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=319
Authors:
Topics:
Related Publications:
New Techniques in Debt Management since the Late 1950's: Staff Study
Description:
A study prepared by Lawrence Banyas, Deputy Assistant to the Secretary of the Treasury, in conjunction with a joint Treasury-Federal Reserve study of the Government securities market.
OCLC:
2065802
Citation:
Banyas, Lawrence, ([year]), New Techniques in Debt Management since the Late 1950's: Staff Study, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=328
Authors:
Topics:
Related Publications:
Position of Nonbank Dealers when Treasury Securities are Issued with Payment Permitted in Tax and Loan Accounts: Staff Study
Description:
A study prepared by Helmut Wendel, Economist at the Board of Governors of the Federal Reserve System, in conjunction with a joint Treasury-Federal Reserve study of the Government securities market.
OCLC:
3701901
Citation:
Wendel, Helmut, ([year]), Position of Nonbank Dealers when Treasury Securities are Issued with Payment Permitted in Tax and Loan Accounts: Staff Study, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=331
Authors:
Topics:
Related Publications:
Purchase of Treasury Securities and Interest on Savings Deposits: Hearing, Ninetieth Congress, Second Session on S. 2923 and S. 3133 ... April 3, 1968
Description:
Hearing before the Subcommittee on Financial Institutions of the Committee on Banking and Currency, United States Senate, 90th Congress, 2nd Session on S. 2923 and S. 3133. To amend section 14(b) of the Federal Reserve Act to extend for two years the authority of Federal Reserve Banks to purchase U.S. obligations directly from the Treasury, and to extend for two years the authority for more flexible regulation of maximum rates of interest or dividends, higher reserve requirements, and open market operations in agency issues.
OCLC:
453116
Citation:
United States. Congress. Senate. Committee on Banking and Currency, ([year]), Purchase of Treasury Securities and Interest on Savings Deposits: Hearing, Ninetieth Congress, Second Session on S. 2923 and S. 3133 ... April 3, 1968, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=790
Authors:
Topics:
Report of the Joint Treasury - SEC - Federal Reserve Board Study of the Government-Related Securities Markets
Description:
A study of the government-related securities markets was prepared by the Department of the Treasury, the Federal Reserve System and the Securities and Exchange Commission (SEC) pursuant to a request by Senator Harrison A. Williams, Jr., Chairman of the Subcommittee on Housing and Urban Affairs, for information and advice on problems arising in these markets, particularly in the forward market for mortgage-backed securities guaranteed by the Government National Mortgage Association.
Digitized by Internet Archive in cooperation with the U.S. Department of the Treasury, Treasury Library.
SUDOC:
Y 4.B 22/3:T 71/5
OCLC:
7568590
Citation:
United States. Securities and Exchange Commission, United States. Dept. of the Treasury and Board of Governors of the Federal Reserve System (U.S.), ([year]), Report of the Joint Treasury - SEC - Federal Reserve Board Study of the Government-Related Securities Markets, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=316
Authors:
- United States. Securities and Exchange Commission
- United States. Dept. of the Treasury
- Board of Governors of the Federal Reserve System (U.S.)
Topics:
Securities Markets (The)
Description:
Report commission by the New York Stock Exchange.
Date:
08/05/1971,
Citation:
Martin, William McChesney, Jr., 1971, Securities Markets (The) , from William McChesney Martin Jr. Document Collection, accessed Jun 19, 2013 from FRASER, http://fraser.stlouisfed.org/docs/historical/martin/09_02_19710805.pdf
Authors:
Statements and Speeches of Thomas C. Melzer: September 25, 1985 - The repo market - A former participant's perspective
Publication:
Statements and Speeches of Thomas C. Melzer
Description:
Remarks given during an educational seminar on repurchase agreements held in St. Louis, Missouri on September 25 and Little Rock, Arkansas on September 26, 1985.
Citation:
Federal Reserve Bank of St. Louis and Melzer, Thomas C., ([year]), Statements and Speeches of Thomas C. Melzer: September 25, 1985, accessed Jun 19, 2013 from FRASER, http://fraser.stlouisfed.org/docs/historical/frbsl_history/presidents/melzer/melzer_19850925.pdf
Authors:
Statements and Speeches of William McChesney Martin, Jr.: July 27, 1959 - The Government Securities Market and Economic Growth.
Publication:
Statements and Speeches of William McChesney Martin, Jr.
Description:
Statement before the Joint Economic Committee.
Citation:
Board of Governors of the Federal Reserve System (U.S.) and Martin, William McChesney, Jr., ([year]), Statements and Speeches of William McChesney Martin, Jr.: July 27, 1959, accessed Jun 19, 2013 from FRASER, http://fraser.stlouisfed.org/docs/historical/martin/martin59_0727.pdf
Authors:
Study of the Dealer Market for Federal Government Securities: Materials Prepared for the Joint Economic Committee, Congress of the United States
Description:
Materials prepared for the Joint Economic Committee, 86th Congress, 2nd Session
SUDOC:
Y4.Ec 7:Se 2
OCLC:
5623849
Citation:
United States. Congress. Joint Economic Committee, ([year]), Study of the Dealer Market for Federal Government Securities: Materials Prepared for the Joint Economic Committee, Congress of the United States, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=762
Authors:
Topics:
Techniques of the Federal Reserve Trading Desk in the 1960's Contrasted with the "Bills Preferably" Period: Staff Study
Description:
A study prepared by Robert L. Cooper, Manager at the Federal Reserve Bank of New York, in conjunction with a joint Treasury-Federal Reserve study of the Government securities market.
OCLC:
3701825
Citation:
Cooper, Robert L., ([year]), Techniques of the Federal Reserve Trading Desk in the 1960's Contrasted with the "Bills Preferably" Period: Staff Study, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=325
Authors:
Topics:
Related Publications:
Treasury-Federal Reserve Study of the Government Securities Market
Description:
This three part report was prepared by the United States Treasury Department and the Federal Reserve System in a joint inquiry into the functioning of the Government securities market. The intent of the study was to point the way toward improvement in the market's mechanisms and to the prevention of speculative excesses in the market.
Part I of the study, issued in July 1959, summarizes the informal consultations conducted by the Treasury-Federal Reserve study group with individuals associated with or informed about the functioning of the market.
Part II of the study, Factual Review for 1958, is an analytical report on the performance of the Government securities market in 1958, with special reference to the build-up in market speculation prior to midyear and its liquidation during ensuing months of declining securities prices and rising interest rates.
Part III contains suggestions received through informal consultations with market participants and observers, together with the findings from the factual record of last year's market performance, indicated the need for certain supplementary studies of specialized and technical focus.
SUDOC:
FR 1.2:SE 2/
OCLC:
2095594
Citation:
Board of Governors of the Federal Reserve System (U.S.) and United States. Dept. of the Treasury, ([year]), Treasury-Federal Reserve Study of the Government Securities Market, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=317
Authors:
Topics:
Views of the U.S. Government Securities Dealers: Staff Study
Description:
A study prepared by Normand Bernard, Economist at the Board of Governors of the Federal Reserve System, in conjunction with a joint Treasury-Federal Reserve study of the Government securities market.
OCLC:
3701772
Citation:
Bernard, Normand, ([year]), Views of the U.S. Government Securities Dealers: Staff Study, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=327
Authors:
Topics:
Related Publications:
Z.1 Flow of Funds Accounts of the United States
Description:
Publication History:
1996-present: Flow of Funds Accounts of the United States: Flows and Outstandings (Z.1, Quarterly)
1992-1996 Flow of Funds Accounts: Flows and Outstandings (Z.1)
1975-1991 Flow of Funds Accounts, Seasonally Adjusted and Unadjusted (Z.1)
1959-1975 Flow of Funds, Seasonally Adjusted and Unadjusted
Note:
The Board’s first publication of the accounts “Flow of Funds in the United States, 1939-1953”, with annual data, was in 1955. Before 1992, Financial Flows was published quarterly and Outstandings was published annually. Year-end Flow of Funds Accounts: Financial Assets and Liabilities, an integral part of the Z.1 release, was published annually from 1977-1991.
Releases are available on the website of the Board of Governors of the Federal Reserve System for 1996 - present.
SUDOC:
FR 1.56:
OCLC:
02623928
Citation:
Board of Governors of the Federal Reserve System (U.S.), ([year]), Z.1 Flow of Funds Accounts of the United States, [issue title/date], accessed Jun 19, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=93
Authors:
Topics:
- Data and Statistical Publications
- Statistical Releases
- Board of Governors of the Federal Reserve System
- Government Securities Market
Related Publications:
