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F E D E R A L R E S E R V E BANK O F NEW YORK Fiscal A gent o f the United States Circular No. 5 8 8 7 1 October 26, 1966 J Results of Treasury’s 9-Month and 12-Month Bill Offerings To A ll Incorporated B an ks and T rust Companies, and Others Concerned, in the Second F ed era l Reserve D istr ict: 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 o f Treasury bills, one series to be an additional issue of the bills dated July 31, 1966, and the other series to be dated October 31, 1966, which were offered on October 19, 1966, were opened at the Federal Reserve Banks today. Tenders were invited fo r $500,000,000, or thereabouts, of 273-day bills and fo r $900,000,000, or thereabouts, of 365-day bills. The details o f the two series are as fo llo w s : Range of A ccepted Com petitive Bids 273-Day Treasury Bills M aturing July 31,1967 Price H igh ................... ..................... Low ..................... ..................... Average ............. ..................... 95.799 95.764 95.778 365-Day Treasury Bills Maturing O ctober 31,1967 Approx. equiv. annual rate 5.540% 5.586% S.567% 1 Price Approx. equiv. annual rate 94.385a 94.374 94.379 5.538% 5.549% 5.544% ’ a Excepting one tender of $2,000. 1 These rates are on a bank discount basis. The equivalent coupon issue yields are 5.84 percent for the 273-day bills, ai 5.87 percent for the 365-day bills. (14 percent of the amount of 273-day bills bid fo r at the low price was accepted.) (48 percent of the amount of 365-dav bills bid for at the low price was accepted.) Total Tenders A p p lied fo r and A ccepted (B y Federal Reserve Districts) 273-D ay Treasury Bills Maturing July 31,1967 A p p lied for District Boston ................. ............... New Y o r k ........... ............... Philadelphia . . . ............... Cleveland ........... ............... Richmond ........... ............... Atlanta ............... ............... Chicago ............... ............... St. L o u i s ............. ............... ............. Minneapolis ............... Kansas City Dallas ................. ............... San Francisco . . ............... T o t a l ........... ............... $ 10,000 828,732,000 6,055,000 1,126,000 264,000 18,121,000 129,677,000 15,408,000 3,600,000 1,064,000 11,330,000 60,508,000 $1,075,895,000 365-Day Treasury Bills Maturing October 31,1967 Accepted Applied for $ 10.000 409,232,000 2,055,000 1,126,000 264,000 3,121,000 59,677,000 3,108,000 1,600,000 1,064,000 1,330,000 17,608,000 $ $500,195,000b $2,272,043,000 Accepted 11,043,000 1,713,193,000 11,097,000 7,822,000 2,618,000 29,769,000 321,371,000 28,437,000 7,646,000 2,525,000 13,393,000 123,129,000 $ 1,043,000 728,271,000 2,997.000 5,436,000 2,438,000 3,674,000 130,057,000 9,937,000 2,646,000 2,525,000 1,393,000 14,180,000 $904,597,000c b Includes $15,238,000 noncompetitive tenders accepted at the average price of 95.778. c Includes $42,371,000 noncompetitive tenders accepted at the average price of 94.379. A lfred H ayes, President.