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FEDERAL RESERVE BANK OF N EW YORK Fiscal Agent of the United States r Circular No. 6 8 1 1 ~l L October S, 1971 J RESULTS OF BIDDING FOR 91-DAY AND 182-DAY TREASURY BILLS (TO BE ISSUED OCTOBER 7, 1971) To A ll Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve D istrict: At the time of printing our Circular No. 6809, dated October 1, 1971, announcing an offering of 91-day and 182-day Treasury bills, to be issued October 14, 1971, the results of bidding for the previous offering of 91-day and 182-day Treasury bills, to be issued October 7, 1971, were not available. The results, now available, are: Range of Accepted Competitive Bids 91-Day Treasury Bills Maturing January 6,1972 Price H ig h .............................. .............. Low .............................. .............. A v era ge........................ .............. 98.874 98.842 98.854 182-Day Treasury Bills Maturing April 6,1972 Approx. equiv. annual rate Price Approx. equiv. annual rate 97.611 97.586 97.602 4.455% 4.581% 4.534%x 4.725% 4.775% 4.743 % x 1 These rates are on a bank discount basis. The equivalent coupon issue yields are 4.66 percent for the 91-day bills, and 4.94 percent for the 182-day bills. (2 percent of the amount of 91-day bills bid for at the low price was accepted.) (2 percent of the amount of 182-day bills bid for at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve Districts) 91-Day Treasury Bills Maturing January 6,1972 District Applied for Boston ................................ New Y o r k .......................... Philadelphia ...................... Cleveland............................ Richmond .......................... Atlanta................................ Chicago .............................. St. L o u is ............................ Minneapolis................ Kansas C ity ........................ D allas.................................. San Francisco.................... T o t a l ........................ ........ ........ ........ ........ ........ ........ ........ ........ ........ ........ ........ ........ $ 21,285,000 2,810,005,000 34,575,000 27,430,000 12,675,000 38,735,000 214,410,000 67,895,000 35,380,000 38,255,000 36,415,000 128,155,000 ........ $3,465,215,000 182-Day Treasury Bills Maturing April 6,1972 Accepted Applied for 10,435,000 1,791,605,000 19,575,000 27,430,000 12,675,000 32,610,000 172,470,000 63,895,000 32,380,000 31,575,000 17,955,000 87,885,000 $ 11,520,000 2,711,065,000 3,595,000 7,965,000 8,965,000 22,520,000 185,265,000 43,235,000 23,695,000 34,485,000 30,570,000 171,370,000 $ $2,300,490,000" $3,254,250,000 $1,600,155,000b $ Accepted 1,520,000 1,418,485,000 3,595,000 7,865,000 3,965,000 15,270,000 65,265,000 29,955,000 9,235,000 13,560,000 7,870,000 23,570,000 a Includes $231,750,000 noncompetitive tenders accepted at the average price of 98.854. b Includes $95,540,000 noncompetitive tenders accepted at the average price of 97.602. A lfred H ayes, President.
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