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FED E R A L R ESER VE BANK O F NEW YORK F iscal A gent of the U nited States Circular No. 6 5 1 2 T March 25, 1970 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 District: T h e fo llo w in g s ta te m e n t w a s is s u e d b y th e T r e a s u r y D e p a r tm e n t a n d r e le a s e d a t 6 :3 0 p .m . y e s te rd a y : The T reasury D epartm ent announced th a t the tenders fo r two series of T reasury bills, one series to be an additional issue of the bills dated December 31, 1969, and the other series to be dated M arch 31, 1970, which were offered on M arch 18, 1970, were opened a t the F ederal Reserve Banks today. Tenders were invited for $500,000,000, or thereabouts, of 275-day bills and for $1,200,000,000, or thereabouts, of 365-day bills. The details of the two series are as follow s: Range of A ccepted Com petitive Bids 275-Day Treasury Bills M aturing December 31,1970 H igh ........................................... L o w ............................................. Average ..................................... 365-Day Treasury Bills M aturing March 31,1971 Price Approx. equiv. annual rate Price Approx. equiv. annual rate 95.427 95.326 95.340 5.986% 6.119% 6.100%a 93.866 93.694 93.783 6.050% 6.220% 6.132%1 i These rates are on a bank discount basis. The equivalent coupon issue yields are 6.42 percent for the 275-day bills, and 6.52 percent for the 365-day bills. (84 percent of the amount of 275-day bills bid for at the low price was accepted.) (42 percent of the am ount of 365-day bills bid for at the low price was accepted.) T otal Tenders A pplied for and Accepted (By Federal Reserve Districts) 275-Day Treasury Bills M aturing December 31,1970 District Applied for B o s to n ...................................$ 20,260,000 New Y o r k ............................ 1,280,160,000 P h ila d e lp h ia ........................ 6,490,000 Cleveland ............................ 11,560,000 Richm ond ............................ 13,430,000 A tlan ta ................................ 16,450,000 Chicago ................................ 111,040,000 St. L o u i s .............................. 29,880,000 M inneapolis ........................ 15,510,000 Kansas C i t y ........................ 3,950,000 Dallas ................................... 14,290,000 San Francisco ................... 90,220,000 Accepted 365-Day Treasury Bills M aturing March 31,1971 Applied for $ 260,000$ 11,450,000 375,720,000 1,533,640,000 490,000 14,420,000 1,560,000 5,230,000 12,430,000 19,720,000 3,490,000 26,970,000 56,240,000 99,820,000 11,780,000 33,250,000 3,510,000 15,620,000 1,950,000 16,590,000 1,290,000 16,510,000 31,420,000 110,000,000 T otal ............................ $1,613,240,000 $500,140,000* $1,903,220,000 Includes $19,700,000 noncompetitive tenders accepted at the average price of 95.340. b Includes $68,120,000 noncompetitive tenders accepted at the average price of 93.783. Accepted $ 11,450,000 901,640,000 4,420,000 5,230,000 18,630,000 22,970 000 83,310 000 33*250000 15 620 000 16 590 000 8500000 78*840,000 ^1,200,450,000^ a A lfred H ay es, President.
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