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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States r Circular No. 6 3 9 7 1 L A ugust 27, 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: The following statement was issned by the Treasury Department and released at 6:30 p.m. yesterday: The Treasury Department announced that the tenders for two series of Treasury bills, one series to be an additional issue of the bills dated May 31, 1969, and the other series to be dated August 31, 1969, which were offered on August 20, 1969, were opened at the Federal Reserve Banks today. Tenders were invited for $500,000,000, or thereabouts, of 271-day bills and for $1,200,000,000, or thereabouts, of 365-day bills. The details of the two series are as follows: Range of Accepted Competitive Bids 271-D ay Treasury B ills Maturing May 3 1,19 7 0 High ........................................... L o w ............................................. Average ..................................... 365-Day Treasury B ills Maturing August 3 1,19 7 0 Price Approx. equiv. annual rate Price Approx. equiv. annual rate 94.478 94.414 94.439 7.335% 7.421% 7.387% ! 92.599 92.531 92.558 7.300% 7.367% 7.340%* 1 These rates are on a bank discount basis. The equivalent coupon issue yields are 7.83 percent for the 271-day bills, and 7.89 percent for the 365-day bills. (92 percent of the amount of 271-day bills bid for at the low price was accepted.) (3 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) 271-D ay Treasury B ills Maturing May 3 1,19 7 0 District B o sto n ................................... New Y o r k ............................ Philadelphia........................ Cleveland Richmond ........... . Atlanta ‘ Chicago ............... s t Louis........... Minneapolis ........... Kansas Citv Dallag ............. ; . ; . . San Francisco ’ ............... Applied fo r $ 787,000 1,022,022,000 8,916,000 1,707,000 5,799,000 10,541,000 103,146,000 5,547,000 9,385,000 1,672,000 11,171,000 131,494,000 T o t a l ............................ $1,312,187,000 Accepted $ 787,000$ 315,502,000 3,916,000 1,707,000 1,799,000 2,393,000 73,146,000 5,047,000 1,385,000 1,672,000 1,171,000 91,494,000 $500,019,000a 365-Day Treasury B ills Maturing August 3 1,19 7 0 Applied for Accepted 10,961,000 $ 1,421,929,000 12,272,000 8,598,000 8,107,000 18,317,000 259,516,000 20,452,000 9,984,000 5,356,000 12,009,000 194,239,000 961,000 775,929,000 2,272,000 7,598,000 3,100,000 5,032.000 223,516,000 13,512.000 1,984,000 5,356,000 2,009,000 158,739.000 $1,981,740,000 $1,200,008,000b a Includes $17,983,000 noncompetitive tenders accepted at the average price of 94.439. b Includes $56,912,000 noncompetitive tenders accepted at the average price of 92.558. A lfred H ayes, President.
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