U.S. government income payments were revised for 1995-2003 to incorporate a new methodology for estimating interest payments on U.S. Treasury securities. The new methodology combined data from the U.S. Treasury Department’s Monthly Statement of Public Debt with newly available information from the U.S. Treasury Department’s international annual and benchmark surveys of portfolio investment. The use of the new data sources removed from the estimation process a large amount of judgment previously included in the position and income estimates. In addition, estimates of interest payments on U.S. agency issues were revised for 1995-2003 to distinguish between interest paid on straight and on mortgage-backed debt.
Published