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FEDERAL RESERVE BANK OF N E W YORK Fiscal Agent of the United States Circular N o. 6 2 9 7 ~1 F ebruary 21, 1969 J [ Results of Treasury’s 9-Month and 12-Month Bill Offerings To All Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve D istrict: T h e fo llo w in g statem ent w as issu ed b y the T r e a s u r y D ep a rtm en t and re lea sed at 6 :3 0 p.m. F ebru ary 20: The Treasury Department announced that the tenders for two series of Treasury bills, one series to be an additional issue of the bills dated November 30, 1968, and the other series to be dated February 28 1969 which were offered on February 14, 1969, were opened at the Federal Reserve Banks today. Tenders were invited for $500,000,000, or thereabouts, of 275-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 2 7 5 -B a y T r e a s u r y B ills M a tu r in g N o v e m b e r 3 0 ,1 9 6 9 Prtce High ......................................... Low ........................................... Average .................................. 95.233 95.157 95.182 3 6 5 -B a y T r e a s u r y B ills M a tu r in g F e b r u a r y 2 8 ,1 9 7 0 Approx equiv. annual rate Price 6.240% 6.340% 6.307%! 93.744 93.623 93.679 Approx. equiv. annual rate 6 170% 6 290% 6.234%* i These rates are on a bank discount basis. The equivalent coupon issue yields are 6.64 percent for the 275-day bills 6.64 percent for the 365-day bills. (22 percent of the amount of 275-day bills bid for at the low price was accepted.) (91 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) 2 7 5 -B a y T r e a s u r y B ills M a tu r in g N o v e m b e r 3 0 ,1 9 6 9 District Applied for Boston ................................ $ 343,000 New Y o r k .......................... 1,122,292,000 P hiladelph ia...................... 5,477,000 Cleveland .......................... 1,332,000 Richmond .......................... 491,000 Atlanta .............................. 5,207,000 Chicago .............................. 90,443,000 St. L o u i s ............................ 5,722,000 Minneapolis ...................... 7,040,000 Kansas C i t y ...................... 1,122,000 Balias ................................. 12,027,000 San Francisco .................. 72,457,000 Accepted $ 343,000$ 411,352,000 477,000 1,332,000 291,000 2,707,000 28,443,000 4,722,000 5,540,000 1,122,000 4,027,000 39,677,000 3 6 5 -B a y T r e a s u r y B ills M a t u r i n g 'F e b r u a r y 2 8 ,1 9 7 0 Applied fo r Accepted 565,000 $ 1,219,795,000 11,508,000 14,644,000 2,728,000 9,413,000 87,364,000 4,494,000 7,170,000 4,087,000 11,717,000 90,054,000 zaz non »03 495 non ilo s o o o 4 fi44000 o’Spsnon 8413000 81 364 000 4 494 non 7 ’i 7 n nnn 4’n87’nnn 6 717nnn 75 054 000 T otal ........................... $1,323,953,000 $500,033,000* $1,463,539,000 a Includes $17,410,000 noncompetitive tenders accepted at the average price of 95.182. b Includes $36,082,000 noncompetitive tenders accepted at the average price of 93.679. A lfred $1,000,039,000b H ayes, President. d
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