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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States f Circular No. 5 1 3 I T L January 3, 1962 J Treasury to Raise $1^4 to $ 1 % Billion New Cash in January To All Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The following statement was made public today by the Treasury Department: The Treasury will receive tenders on Tuesday, January 9, 1962, for $2 billion, or thereabouts, of Treasury bills to be dated January 15, 1962, and to mature on January 15, 1963. The proceeds of these bills will be used to pay off $1 billion of one-year Treasury bills which come due on January 15, 1962, and to supply the Treasury with $500 million of new cash to meet in part its current cash requirements. The customary invitation for tenders to these bills is being issued today. In addition to the $500 million of new cash to be raised in this auction, the Treasury will announce during the latter part of next week the sale for cash of additional Treasury securities amounting to about $1 to $ l1 billion. /4 The cash to be borrowed in these operations will, it is estimated, in the absence of any unforeseen developments, meet the Treasury’s cash requirements until the latter part of March. Tender forms for the one-year bills are enclosed for those on our mail ing lists to receive Treasury bill offering circulars. A lfred H ayes, President.