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FEDERAL RESERVE BANK OF N EW YORK Fiscal A gent o f the United States r Circular No. 5 9 5 5 "1 U March 8, 1967 J Results of Treasury’s Offer of Additional $2.7 Billion in June Tax Bills To All Incorporated Banks 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 fo r an additional $2,700,000,000, or thereabouts, o f the Tax A nticipation Series Treasury bills dated October 18, 1966, m atur ing June 22, 1967, were opened at the Federal Reserve Banks today. The additional amount of bills, which were offered on March 1, 1967, will be issued March 13, 1967 (101 days to maturity date). The details o f this issue are as follows : Total applied fo r $3,923,799,000 Total accepted . . $2,702,560,000 (Includes $224,599,000 entered on a non competitive basis and accepted in fu ll at the average price shown below) Range of accepted competitive b id s : Hi&h ........................ 98.841 IjO W .......................... 98.788 Average 98.795 ................. Equivalent rate o f discount approx. 4.131% per annum Equivalent rate o f discount approx. 4.320% per annum Equivalent rate o f discount approx. 4.295% per annum1 (61 percent o f the amount bid fo r at the low price was accepted.) Federal Reserve District Boston .......................................................... Total applied fo r $ 162,982,000 Total accepted $ 143,044,000 New Y o r k .................................................... P h ila d e lp h ia ............................................... 1,665,972,000 119,420,000 1,169,992,000 58,420,000 Cleveland .................................................... Richmond .................................................... 144,654,000 56,690,000 101*654*000 41,090,000 Atlanta ........................................................ Chicago ........................................................ 133,715,000 687,110,000 104,145,000 423,090,000 s t - L o u i s ...................................................... Minneapolis ............................................... Kansas C i t y ............................................... 124,475,000 161,920,000 73,260,000 63,225,000 117,647,000 65,587*000 Dallas .......................................................... San Francisco ........................................... 197,801,000 395,800,000 87,071,000 327,595,000 T o t a l .................................................... $3,923,799,000 $2,702,560,000 1 This is on a bank discount basis. The equivalent coupon issue yield is 4.42 percent. A lfred H ayes, President.
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