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FED ERAL R E SE R V E BANK
O F NEW YORK
Fiscal A gen t o f the U nited States

r Circular No. 3 9 7 7 1
L
May 18, 1953
J

T R E A S U R Y FIN AN CING

To All Banking Institutions, and Others Concerned,
in the Second Federal Reserve D istrict:

The follow in g statement was made public tod a y:
Secretary o f the Treasury H um phrey announced today that holders o f
the $4,963,000,000 o f certificates o f indebtedness m aturing on June 1, and
the $725,000,000 o f Treasury Bonds o f 1953-55 called fo r redemption on
June 15, w ill be offered in exchange one-year 2 % percent Certificates o f
Indebtedness, to be dated June 1. The certificates o f indebtedness will be
exchanged as o f June 1. The called bonds w ill be exchanged as o f June 15,
subject to an interest adjustment on the new certificates from June 1.
The subscription books on this exchange will open on W ednesday,
May 20, and w ill be closed in three days at the close o f business F riday,
May 22.
F u ll details o f the offering will be given in the press statement and
official circular, which w ill be made public W ednesday morning, May 20.

Copies o f the official circular and subscription form s w ill be mailed
to reach you on M ay 20.




A

llan

S proul,

President.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102