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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.