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F E D E R A L R E S E R V E BANK
O F NEW YO R K
F i s c a l Agent of the United States

I C ircu la r N o. 6729
May 7, 197 1

To All Banking Institutions, and Others Concerned,
in the Second Fed er al R e s e r v e Di st ric t:

The following statement was made public today by the Treasury Department:
RESULTS OF TREASURY REFUNDING
The Treasury announced today that $4.1 billion of the $5.9 billion of the
notes held by the general public maturing May 15, 1971, have been exchanged,
leaving $1.8 billion, or 30.7%, unexchanged. Federal Reserve Banks and GovernĀ­
ment accounts exchanged the $2.5 billion held by them.
Following is a summary of the exchanges (amounts in millions):

E ligible for exchange

To be i s s u e d
5%
Notes

Security

Amount
B y the gen

5-1/4% n o te s ..............................
8% notes.......................................
T o ta l......................................

$2,381
3,547
$5,928

B y Federal R e s e r v e Banks

5-1/4% n o te s ..............................
8% notes.......................................
T o ta l.......................................
Grand t o t a l .................................




$1,884
629
$2,513
$8,441

5-3/4%
N o te s

8 /1 5 /7 2

1 1 /1 5 /7 4

Total

public

$ 770
1,172
$1,942

$

977
1,192
$2,169

$1,747
2,364
$4,111

$ 874
173
$1,047
$3,216

$1,875
629
$2,504
$6,615

d Government A c c o u n t s

$1,001
456
$1,457
$3,399

Alfred Hayes,
President.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102