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FEDERAL RESERVE BANK OF N EW YORK Fiscal Agent of the United States r Circular No. 6 4 1 9 1 L October 9, 1969 J R esults o f T reasury’s Offer o f $ 2 .0 B illio n o f A p ril T ax B ills 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 re a su ry D ep a rtm en t and relea sed at 6 :3 0 p.m . y e s t e r d a y : The Treasury Department announced that the tenders for $2,000,000,000, or thereabouts, of 190-day Treasury tax anticipation bills to be dated October 14, 1969, and to mature A pril 22, 1970, which were offered on October 2, 1969, were opened at the Federal Reserve Banks today. The details of this issue are as follow s: Total applied for Total accepted .. $3,173,403,000 $2,000,202,000 (Includes $102,852,000 entered on a non competitive basis and accepted in full at the average price shown below) Range of accepted competitive bids: High ...................... 96.200 Equivalent rate of discount approx. 7.200% per annum L o w ........................ 96.133 Equivalent rate of discount approx. 7.327% per annum Average .............. .. 96.156 Equivalent rate of discount approx. 7.283% per annum 1 i This is on a bank discount basis. The equivalent coupon issue yield is 7.67 percent. (66 percent of the amount bid for at the low price was accepted.) Federal Reserve District Boston ....................................................... New Y o r k ................................................. P h ilad elph ia............................................. Cleveland ................................................. Richmond ................................................ Atlanta ..................................................... Chicago ..................................................... St. L o u i s ................................................... Minneapolis ............................................. Kansas City ........................................ . Dallas ....................................................... San Francisco ........................................ T otal .............................................. Total applied for $ 98,709,000 1,767,465,000 149,939,000 165,854,000 30,419,000 64,232,000 328,737,000 49,407,000 276,622,000 38,104,000 53,781,000 150,134,000 $3,173,403,000 Total accepted $ 68,709,000 941,465,000 53,939,000 101,854,000 30,418,000 58,232,000 319,537,000 47,407,000 180,622,000 38,104,000 44,781,000 115,134,000 $2,000,202,000 A lfred President. H ayes,
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