5396. Offering of $2,000,000,000 of 160-Day Tax Anticipation Treasury Bills

Name: 5396. Offering of $2,000,000,000 of 160-Day Tax Anticipation Treasury Bills
Creator: FRASER
Keywords: Federal Reserve Bank of New York, Federal Reserve Bank of New York, Law and legislation

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FE D E R A L R E S E R V E BANK O F N E W Y O R K Fiscal Agent of the United States r Circular N o L October 2 1963 J Offering of of 160 Day Tax Anticipation Treasury Bills Dated October Maturing March To All Incorporated Banks and Trust Companies and Others Concerned in the Second Federal Reserve District Following i t e t x o a n t c i s e by t e Treasury Department r l a e f r p b i a i n t d y s h et f oie sud h eesd o ulcto o a The Treasury Department by this public notice invites tenders for or thereabouts of 160 day Treasury bills for cash and in exchange for Treasury bills maturing O ctober in the amount of The bills will be issued on a discount basis under competitive and non competitive bidding as hereinafter provided The bills o f this series will be designated T ax Anticipation Series they will be dated O ctober and they will mature March They will be accepted at face value in payment of incom e and profits taxes due on March and to the extent they are not presented for this purpose the face amount o f these bills will be payable without interest at maturity Taxpayers desir ing to apply these bills in payment of March income and profits taxes have the privilege of surrendering them to any Federal Reserve Bank or Branch or to the Office of the Treasurer of the United States W ashington not more than fifteen days before March and receiving receipts therefor showing the face amount of the bills so surrendered These receipts may be submitted in lieu of the bills on or before March to the District Director of Internal Revenue for the District in which such taxes are payable The bills will be issued in bearer form only and in denominations of and maturity value Tenders will be received at Federal Reserve Banks and Branches up to the closing hour one thirty o clock p m Eastern Daylight Saving time W ednesday O ctober Tenders will not be received at the Treasury Department W ashington Each tender must be for an even multiple o f 1 000 and in the case of competitive tenders the price offered must be expressed on the basis of 100 with not more than three decimals e g Fractions may not be used It is urged that tenders be made on the printed forms and forwarded in the special envelopes which will be supplied by Federal Reserve Banks or Branches on application therefor Banking institutions generally may submit tenders for account of customers provided the names of the customers are set forth in such tenders Others than banking institutions will not be permitted to submit tenders except for their own account Tenders will be received without deposit from incor porated banks and trust companies and from responsible and recognized dealers in investment securities Tenders from others must be accompanied by payment of 2 percent of the face amount of Treasury bills applied for unless the tenders are accompanied by an express guaranty of payment by an incorporated bank or trust company Immediately after the closing hour tenders will be opened at the Federal Reserve Banks and Branches follow ing which public announcement will be made by the Treasury Department of the amount and price range of accepted bids Those sub mitting tenders will be advised of the acceptance or rejection thereof The Secretary of the Treasury expressly reserves the right to accept or reject any or all tenders in whole or in part and his action in any such respect shall be final Subject to these reservations noncompetitive tenders for or less without stated price from any one bidder will be accepted in full at the average price in three decimals o f accepted com petitive bids Settlement for accepted tenders in accordance with the bids must be made or completed at the Federal Reserve Bank on O ctober in cash or other immediately available funds or in a like face amount of Treasury bills maturing on O ctober Cash and exchange tenders will receive equal treatment Cash adjustments will be made for differences between the par value of maturing bills accepted in exchange and the issue price of the new bills The incom e derived from Treasury bills whether interest or gain from the sale or other disposition of the bills does not have any exemption as such and loss from the sale or other disposition o f Treasury bills does not have any special treat ment as such under the Internal Revenue Code of 1954 The bills are subject to estate inheritance gift or other excise taxes whether Federal or State but are exempt from all taxa tion now or hereafter imposed on the principal or interest thereof by any State or any of the possessions o f the United States or by any local taxing authority For purposes of taxation the amount of discount at which Treasury bills are originally sold by the United States is considered to be interest Under Sections 454 b and 1221 5 o f the Internal Revenue Code o f 1954 the amount o f discount at which bills issued hereunder are sold is not considered to accrue until such bills are sold redeemed or otherwise disposed of and such bills are excluded from consideration as capital assets Accordingly the ow ner of Treasury bills other than life insurance com panies issued hereunder need include in his incom e tax return only the difference between the price paid for such bills whether on original issue or on subsequent purchase and the amount actually received either upon sale or redemption at maturity during the taxable year for which the return is made as ordinary gain or loss Treasury Department Circular No 418 current revision and this notice prescribe the terms of the Treasury bills and govern the conditions o f their issue Copies o f the circular may be obtained from any Federal Reserve Bank or Branch This Bank w l r c i e t n e s up t 1 0p m Eastern D y i h Saving t m Wednesday October 9 1 6 a t e il e e v e d r o 3 algt ie 93 t h S c r t e Department o is Head O f c and a is B f a o Branch P e s us t e form on t e r v r e s d o euiis f t fie t t ufl lae e h h e e s ie f t i c r u a t submit a t n e and r t r i i t e e c o e b u e v l p marked Tender f r Treasury B l s Tax hs i c l r o edr eun t n h nlsd le ne o e o il A t c p t o S r e Tenders may b s b i t d by t l g a h s b e t t w i t n c n i m t o t e may n t be sub n i i a i n eis e umte eerp ujc o rte ofrain h y o m t e by t l p o e Payment for the Treasury bills cannot be made by credit through the Treasury Tax and Loan itd eehn Account Settlement mast be made in cash or other immediately available funds or in Treasury bills maturina October A lfred H ayes President IMPORTANT Payment by c e i through Treasury Tax and Loan Account w l not be permitted rdt il over No TENDER FOR 160 DAY TREASURY BILLS TO BE DESIGNATED TAX ANTICIPATION SERIES Dated October Dated a t F s a Agent o t e United S a e icl f h tts Pursuant t t e p o i i n o Treasury Department C r u a No 418 u r n r v s o and t t e p o i o h rvsos f iclr cret eiin o h rv s o s o t e p b i n t c i s e by t e Treasury Department and p i t d on t e r v r e s d o t i t n e t e in f h ulc oie sud h rne h e e s i e f hs e d r h undersigned hereby o f r t purchase t e above d s r b d Treasury bls i t e amount i d c t d b l w and fes o h ecie il n h niae eo a r e t make payment t e e o a your Bank on o b f r t e i s e d t a t e p i e i d c t d below ges o hrfr t r e o e h su a e t h rc ni ae IMPORTANT Payment m ay not b made b credit t Treasury e y o T ax a d L n oan Account To Maturing March F e d er al R eserve B a n k of N ew COMPETITIVE TENDER r Y ork Do not fill in both Competitive and tenders on one form d l Noncompetitive N a u i y v l e m t r t au o any l s e amount t a may be awarded r esr ht 0 Price per 1 0 Price must be expressed zvith not more than three decimal places for example NONCOMPETITIVE TENDER a u i y vle m t r t au N ot to exceed for one bidder through all sources At t e average p i e o a c p e c m e i i e b d h r c f c e t d o p t t v is S b e t t a l t e t p e s i s e d l v r and a c p payment f r t e bls a i d c t d below u j c o l o m n l a e su e i e cet o h il s n i a e Pieces Denomination Maturity value Deliver over the counter to the undersigned 2 Ship to the undersigned 3 Hold in safekeeping for ac count of member bank only 4 Allotment transfer see list attached 5 Special instructions Payment will be made as follow s By charge to our reserve account By cash or check in immediately available funds By surrender of maturity value of maturing special Treasury bills Pay cash adj ustment if any By check By credit to our reserve account N o changes in delivery instructions zvill be accepted Total Payment cannot be made through Treasury Tax and Loan Account I t i i e i c e k d t e undersigned c r iist a t e a l t e bls w l b owned s l l by t e u d r i n d f hs t m s h c e h e t fe h t h l o t d il i l e oey h nesge Name of subscriber Insert this tender in blue envelope marked Tender for Treasury Bills Tax An ticipation Series Please print B y By Official signature s required T i t l e Title Address Banks submitting tenders for customer account must indicate name on line below or attach a list Name of customer IN S T R U C T IO N S 1 N o tender for less than 1 000 will be considered and each tender must be for an even multiple of 1 000 maturity value 2 Others than banking institutions will not be permitted to submit tenders except for their own account Banks submitting tenders for customer account may consolidate competitive tenders at the same price and may consolidate non competitive tenders provided a list is attached showing the name o f each bidder the amount bid for his account and method of payment Forms for this purpose will be furnished on request 3 If the person making the tender is a corporation the tender should be signed by an officer o f the corporation authorized to make the tender and the signing o f the tender by an officer of the corporation will be construed as a representation by him that he has been so authorized If the tender is made by a partnership it should be signed by a member of the firm who should sign in the form a copartnership by a member of the firm 4 Tenders will be received without deposit from incorporated banks and trust companies and from responsible and recognized dealers in investment securities Tenders from others must be accompanied by payment of 2 percent o f the face amount of Treasury bills applied for unless the tenders are accompanied by an express guaranty o f payment by an incor porated bank or trust company 5 If the language of this tender is changed in any respect which in the opinion of the Secretary of the Treasury is material the tender may be disregarded f 3fl Federal Reserve Bank of New York Securities Department 9th Floor 33 TENDER FOR TREASURY BILLS t a x a n t i c i p a t i o n s e r ie s D O N O T U SE T H IS E N V E L O P E FOR O T H E R P U R P O SE S Liberty Street New York 45 N Y Federal Reserve Bank of New Y ork NOTICE OF ALLOTMENT OF UNITED STATES OF AMERICA TREASURY TAX ANTICIPATION SERIES October Your comp t t v noncompetitive tender f r eiie o UNITED S T A T E S O F A M E R IC A 1 6 0 D A Y T R E A S U R Y BILLS T A X A N T IC IP A T IO N SERIES D A T E D O C T O B E R DUE M A R C H has been accepted a t e p i e o t h rc f e 1 0 i t e amount o pr 0 n h f maturity v l e au Settlement t e e o must b made i c s o o h r immediately a a l b e funds o i a l k hrfr e n ah r te vial r n ie f c amount o s e i l Treasury b l s maturing October a t e Federal Reserve Bank ae f pca il 5 93 t h o New York on o b f r October I s t l m n i t be made by check on a bank o h r f r eoe f eteet s o te than t e Federal Reserve Bank o New York such check should be r c i e by us i t f r h f eevd n ime o c l e t o on October o h r i e i w l be n c ssary f r t e bidder t pay f r t e olcin 5 t e w s t il ee o h o o h s c r t e a l t e a t e accepted p i e p i t r s t t e d t o c l e t o a t e e u v l n euiis lotd t h r c lus n e e t o h a e f o l c i n t h q i a e t rt o dson ae f icut Delivery o t e Treasury b l s w l be made i accordance with i s r c i n submitted with f h il i l n ntutos your t n e and your r s r e account w l b charged on October i you s i d c t d edr eev il e 5 f o niae I you did not submit such i s r c i n a Let e o I s r c i n form i e c o e p e s com f ntutos tr f ntutos s nlsd lae p e e t e l t e i d p i a e and return i promptly t t i Bank l t h etr n u l c t t o hs F ed eral R eserve B a n k of N ew Y ork F s a Agent o t e United S a e icl f h tts Checked by This letter o f instructions accompanied by attached duplicate copy should be filled in and returned to Federal Reserve Bank of New Y o rk LETTER OF INSTRUCTIONS To F e d e r a l R e se r v e B a n k o f N e w Y o r k F s a Agent o t e United S a e icl f h tts Federal Reserve P 0 S a i n tto New York N Y Attention Government Bond D v s o 2nd Floor iiin Dated at On our c m e i i e noncompetitive tender f r opttv o UNITED S T A T E S O F A M E R IC A 1 6 0 D A Y T R E A S U R Y BILLS T A X A N T IC IP A T IO N SERIES D A T E D O C T O B E R D UE M A R C H accepted a t e p i e o t h rc f e 1 0 i t e amount o pr 0 n h f maturity v l e au P e s i s e and make d l v r o t e bls a i s r c e below l a e su e i e y f h il s n t u t d Pieces Denomination P l e a s e Do N o t U s e T h is S p a ce Maturity Value Tot l a Dl e iver over t e counter t t e undersigned h o h Ship t t e undersigned o h Hold i safekeeping o account o member bank n fr f only Allotment t a s e e ls a t c e r n f r s e it t a h d Seilisrcin pca ntutos No changes in delivery instructions will be accepted Payment w l be made a f l o s il s olw By charge t our r s r e account o eev By cash o o h r immediately a a l b e funds r te vial By surrender o maturity v l e f au o maturing s e i l Treasury bls Pay c s ad f pca il ah j s m n i any utet f By check By c e i t our r s r e account rdt o eev Payment cannot be made through Treasury Tax and Loan Account I f this item is ch e c k e d the u n d e rsig n e d certifies that the a llo tte d b ills w ill b e o w n e d s o le ly b y the u n d ersig n ed This letter of instructions must be signed Submitted by Please print officially in the space provided and re turned immediately to Federal Reserve Bank of New Y ork By Authorized signature s required Title Title Fiscal Agent of the United States Address S p a c e s b e lo w are f o r the use o f the F ed era l R e s e rv e B ank o f N ew Y o r k Government Bond Division Safekeeping Division Payment received Checked Deliver against pavment of Delivered DELIVE RY RECEIPT Received from Federal Reserve Bank of New York Fiscal Agent o f the United States the above described securities allotted in the amount indicated above http fraser stlouisfed org Subscriber Date Federal Reserve Bank of St Louis By y v T V H i v i p n DUPLICATE FOR USE OF FEDERAL RESERVE BANK OF N E W YORK LETTER OF INSTRUCTIONS To F e d e r a l R e s e r v e B a n k o f N e w Y o r k F s a Agent o t e United S a e icl f h tts Federal Reserve P 0 S a i n tto New York N Y 10045 Attention Government Bond D v s o 2nd Floor iiin Dated at On our c m e i i e noncompetitive tender f r opttv o UNITED S T A T E S O F A M E R IC A 1 6 0 D A Y T R E A S U R Y BILLS T A X A N T IC IP A T IO N SERIES D A T E D O C T O B E R DUE M A R C H accep a t e p i e o ted t h r c f e 1 0 i t e amount o pr 0 n h f maturity v l e au P se i s e and make d l v r o t e b l s a i s r c e below lea s u e i e y f h il s n t u t d Pieces Denomination Maturity Value P l e a s e D o N ot U s e T h i s S p a c e Q T a ot l Dl e iver o t e counter t t e undersigned ver h o h Ship t t e undersigned o h Hold i safekeeping o account o member bank n fr f only Allotment t a s e e ls a t c e r n f r s e it t a h d Sei l isrcin pc a ntutos No changes in delivery instructions will be accepted Payment w l b made a follows il e s By charge t our r s r e account o eev By cash o o h r immediately a a l b e funds r te vial By surrender o maturity v l e f au o maturing s e i l Treasury bls Pay c s ad f pca il ah ju t e t i any smn f By check By c e i t our r s r e account rdt o eev Payment cannot be made through Treasury Tax and Loan Account I f this item is ch e c k e d the u n d e rsig n e d certifies that the a llo tte d b ills w ill b e o w n e d so le ly b y the u n d ersig n ed This letter o f instructions must be signed Submitted by Please print officially in the space provided and re turned immediately to Federal Reserve Bank of New Y ork By Authorized signature s required Title Title Fiscal Agent o f the United States Address S p a c e s b e lo w are f o r the u se o f the F ed era l R e se rv e Bank o f N ew Y o r k Government Bond Division Safekeeping Division Payment received Checked Deliver against payment of Delivered D ELIVE RY RECEIPT Received from Federal Beserve Bank of New York Fiscal Agent of the United States the above described securities allotted in the amount indicated above Date Subscriber By 4 PENDING DELIVERY TICKET FOR GOVERNMENT BOND DIVISION Your c m e i i e noncompetitive tender f r opttv o UNITED S T A T E S O F A M E R IC A 1 6 0 D A Y T R E A S U R Y BILLS T A X A N T IC IP A T IO N SERIES D A T E D O C T O B E R D UE M A R C H which has been accepted a t e p i e o t h rc f e 1 0 i t e amount o pr 0 n h f P R IN C IP A L MASTER MATURITY VALUE P R IN C IP A L DISPOSITION Safekeeping Ship M ETHOD OF PAYM ENT Over the Counter S P L IT D IS P O S IT IO N Reserve Account Check or Cash Delivery Teller Treasury Tax Loan Foreign Oper Div Allotment Transfer Form 12 Maturing bills i A L L O T M E N T N OTICE F O R SECURITIES D E P A R T M E N T c ompetitive noncompetitive UNITED S T A T E S O F A M E R IC A 1 6 0 D A Y T R E A S U R Y BILLS T A X A N T IC IP A T IO N SERIES D A T E D O C T O B E R DUE M A R C H A t A L L O T M E N T NOTICE F O R SECURITY FILES cme o p titive noncompetitive UN ITED S T A T E S O F A M E R IC A 1 6 0 D A Y T R E A S U R Y BILLS T A X A N T IC IP A T IO N SERIES D A T E D O C T O B E R D U E M A R C H

5396. Offering of $2,000,000,000 of 160-Day Tax Anticipation Treasury Bills

DATE: October 2, 1963

PART OF:

Federal Reserve Bank of New York Circulars

AUTHOR:

Federal Reserve Bank of New York

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Federal Reserve Bank of New York. "5396. Offering of $2,000,000,000 of 160-Day Tax Anticipation Treasury Bills," Federal Reserve Bank of New York Circulars (October 2, 1963). https://fraser.stlouisfed.org/title/466/item/12940, accessed on December 5, 2019.

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