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FEDERAL RESERVE BANK OF NEW YORK Fiscal A gent of the United States [C ircu la r No. 6 8 2 4 1 L October 27, 1971 J RESULTS OF T R E A S U R Y ’ S 9-M ONTH AN D 12-M ONTH BILL OFFERINGS To A ll Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: The follow in g statement was issued by the T reasury Department and released at 6 :3 0 p.m. yesterd a y: The Treasury Department announced that the tenders for two series of Treasury bills, one series to be an additional issue of the bills dated July 31, 1971, and the other series to be dated October 31, 1971, which were offered on October 19, 1971, were opened at the Federal Reserve Banks today. Tenders were invited for $500,000,000, or thereabouts, of 273-day bills and for $1,200,000,000, or thereabouts, of 366-day bills. The details of the two series are as follows: Range of Accepted Competitive Bids 273-Day Treasury B ills M aturing July 31, 1972 High .................................... L o w ..................................... Average ............................. 366-Day Treasury B ills M aturing October 31, 1972 Price Approx. equiv. annual rate Price 96.615 96.577 96.591 4.464% 4.514% 4.495%! 95.456 95.390 95.435 Approx. equiv. annual rate 4.470% 4.534% 4.490% 1 1 These rates are on a bank discount basis. The equivalent coupon issue yields are 4.70 percent for the 273-day bills, and 4.73 percent for the 366-day bills. (96 percent of the amount of 273-day bills bid for at the low price was accepted.) (4 percent of the amount of 366-day bills bid for at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve Districts) 273-Day Treasury B ills M aturing July 31, 1972 District Applied for Boston .................... ...... New York .............. ...... Philadelphia............ Cleveland ................ Richmond .............. Atlanta .................... Chicago .................. St. Louis ................ Minneapolis ............ Kansas C ity ............ Dallas ...................... San Francisco ........ T otal ................... ...... $ 10,505,000 1,198,585,000 655,000 285,000 10,250,000 13,830,000 120,480,000 25,645,000 29,535,000 11,380,000 24,740,000 77,600,000 $1,523,490,000 366-Day Treasury Bills M aturing October 31, 1972 Applied for Accepted $ 505,000 424,865,000 655,000 285,000 5,250,000 1,830,000 14,480,000 1,645,000 3,535,000 6,380,000 1,740,000 38,900,000 $ 500,070,000a $ Accepted 21,320,000 1,919,820,000 6,745,000 20,990,000 7,200,000 20,095,000 181,295,000 29,815,000 28,545,000 13,145,000 24,960,000 110,745,000 $ $2,384,675,000 1,220,000 1,112,755,000 1,745,000 1,950,000 1,810,000 2,635,000 36,810,000 6,815,000 545,000 3,045,000 1,960,000 28,745,000 $1,200,035,000b a Includes $14,830,000 noncompetitive tenders accepted at the average price of 96.591. b Includes $31,380,000 noncompetitive tenders accepted at the average price of 95.435. A lfred H ayes, President.
@FedFRASER