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FED ER AL RESERVE BANK O F NEW YORK Fiscal Agent of the United States r Circular No. 6 1 5 6 1 L April 24, 1968 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 District: T h e fo llo w in g statem ent w as issu ed b y the T r e a su r y D ep artm en t and relea sed at 6 :3 0 p.m ., y esterd a y : The Treasury Department announced that the tenders for two series of Treasury bills, one series to be an additional issue of the bills dated January 31, 1968, and the other series to be dated A pril 30, 1968, which were offered on April 17, 1968, were opened at the Federal Reserve Banks today. Tenders were invited for $500,000,000, or thereabouts, o f 276-day bills and for $1,000,000,000, or thereabouts, of 365-day bills. The details of the two series are as follow s: Range of Accepted Competitive Bids 276-Bay Treasury Bills Maturing January 31,1 96 9 High ........................................ L o w .......................................... Average .................................. 365-Day Treasury Bills Maturing A pril 3 0 ,1 96 9 Price Approx. equiv. annual rate Price Approx. equiv. annual rate 95.668 95.645 95.657 5.650% 5.680% 5.665%J 94.272 94.241 94.258 5.650% 5.680% 5.663%1 i These rates are on a bank discount basis. The equivalent coupon issue yields are 5.94 percent for the 276-day bills, and 6.00 percent for the 365-day bills. (13 percent of the amount of 276-day bills bid for at the low price was accepted.) (85 percent of the amount of 365-day bills bid for at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve Districts) 276-Day Treasury Bills Maturing January 31,1 96 9 District Applied for Accepted 365-Day Treasury Bills Maturing A pril 3 0 ,1 96 9 Applied for B o s t o n ................................ $ 136,000 $ 136,000$ 22,645,000 New Y o r k .......................... 1,090,922,000 450,062,000 1,620,365,000 Philadelphia...................... 8,705,000 705,000 15,358,000 Cleveland .......................... 10,438,000 1,113,000 74,948,000 Richmond .......................... 3,160,000 660,000 3,769,000 Atlanta .............................. 12,768,000 2,146,000 21,969,000 C h ic a g o .............................. 174,578,000 32,053,000 294,769,000 St. L o u is ............................ 18,246,000 1,624,000 39,092,000 Minneapolis ...................... 13,789,000 1,689,000 12,705,000 Kansas City ...................... 3,058,000 1,058,000 8,558,000 Dallas ................................. 11,138,000 1,138,000 11,500,000 San Francisco .................. 92,492,000 7,892,000 178,327,000 T o t a l .......................... $1,439,430,000 $500,276,000* $2,304,005,000 Accepted $ 9,805,000 803,366,000 2,959,000 8,948,000 1,269,000 5,672,000 151,169,000 7,826,000 705,000 2,408,000 1,500,000 4,577,000 $1,000,204,000b Includes $17,080,000 noncompetitive tenders accepted at the average price of 95.657. b Includes $37,751,000 noncompetitive tenders accepted at the average price of 94.258. a A lfbed H ayes , P r e s id e n t.
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