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FEDERAL RESERVE BANK
OF N EW YORK
Fiscal Agent of the United States
rCircular No. 6 0 8 3 1
L December 27, 1967 J

Results of Treasury’s 9-Month and 12-Month Bill Offerings

To All Incorporated Banlcs and Trust Companies, and Others Concerned,
in the Second Federal Reserve D istrict:

The following statement was issued by the Treasury Department and released at 6:30 p.m.,
yesterday:
The Treasury Department announced that the tenders for two series of Treasury bills, one series to he
an additional issue of the bills dated September 30, 1967, and the other series to be dated December 31, 1967,
which were offered on December 18, 1967, were opened at the Federal Reserve Banks today. Tenders were
invited for $500,000,000, or thereabouts, of 272-day bills and for $1,000,000,000, or thereabouts, of 366-day
bills. The details of the two series are as follows:

Range of Accepted Com petitive Bids
272-Day Treasury Bills
Maturing September 30,1968

366-Day Treasury Bills
Maturing December 31,1968

Price

High ...........................................
Low .............................................
Average .....................................

Approx. equiv.
annual rate

Price

Approx. equiv.
annual rate

95.833
95.777
95.803

5.515%
5.589%
5.555%*

94.408
94.307
94.364

5.500%
5.600%
5.544%!

i These rates are on a bank discount basis. The equivalent coupon issue yields are 5.84 percent for the 272-day bills, and
5.89 percent for the 366-day bills.

(56 percent of the amount of 272-day bills
bid for at the low price was accepted.)

(81 percent of the amount of 366-day bills
bid for at the low price was accepted.)

T otal Tenders A pplied for and A ccepted (B y Federal Reserve Districts)
272-Day Treasury Bills
Maturing September 30,1968
District

Applied for

... $
132,000
.........
877,256,000
.........
15,421,000
.........
14,002,000
.........
575,000
.........
2,404,000
.........
106,131,000
10,480,000
St. L o u is ................... .........
14,825,000
Minneapolis ............. .........
1,728,000
Kansas City ............. .........
.........
11,400,000
76,726,000
San Francisco .........
T o t a l .................... .........$1,137,080,000

366-Day Treasury Bills
Maturing December 31,1968

Accepted

$

132,000
361,376,000
9,541,000
14,002,000
575,000
3,404,000
49,931,000
7,480,000
14,825,000
1,728,000
7,400,000
29,766,000

$500,160,000*

Applied for

$

10,501,000
1,148,138,000
11,552,000
33,258,000
2,912,000
19,466,000
140,304,000
17,515,000
15,069,000
4,399,000
11,692,000
78,336,000

$1,493,142,000

Accepted

$

10,501,000
728,658,000
7,602,000
33,258,000
2.912,000
19,466,000
99,304,000
17,325,000
15,069,000
4,399,000
10,692,000
50,956,000

$1,000,142,000b

a Includes $16,945,000 noncom petitive tenders accepted at the average price o f 95.803.
b Includes $46,543,000 noncom petitive tenders accepted at the average price o f 94.364.




A lfr ed H a y e s ,

President.

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