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FED ER A L RESER VE BANK OF NEW YORK Fiscal Agent of the United States r U C ircu la r N o . 7 2 2 3 A u g u st 28 , 1973 *1 J Results of Bidding for 91-Day and 182-Day Treasury Bills (To Be Issued August 30, 1973) To All Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: At the time of printing our Circular No. 7220, dated August 24, 1973, announcing an offering of 9l-day and 182-day Treasury bills, to be issued September 6, 1973, the results of bidding for the previous offering of 91-day and 182-day Treasury bills, to be issued August 30, 1973, were not available. The results, now available, are: Range of Accepted Competitive Bids 91-Day Treasury Bills Maturing November 29, 1973 High ........................... ................. Low ............................. ................. A verage....................... ................. Price Approx. equiv. annual rate 97.841 97.796 97.809 8.541% 8.719% 8.668% 1 1 These rates are on a bank discount basis. percent for the 182-day bills. 182-Day Treasury Bills Maturing February 28,1974 Approx. equiv. annual rate Price 95.703 95.657 95.664 8.500% 8.591% $.577% 1 The equivalent coupon issued yields are 8.98 percent for the 91-day bills, and 9.09 (83 percent of the amount of 91-day bills bid for at the low price was accepted.) . (32 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 November 29, 1973 District Boston ......................... ........... New York ................... ........... Philadelphia ................. ........... Cleveland ..................... ........... Richmond ..................... ........... Atlanta ......................... ........... Chicago ....................... ........... St. Louis ..................... ........... Minneapolis ................. ........... Kansas C it y ................. ........... Dallas ................................. ........... San Francisco ............. ........... T otal ................... ........... Applied for $ 40,690,000 2,972,750,000 43,155,000 36,840,000 33,085,000 25,585,000 210,525,000 44,045,000 14,750,000 29,805,000 47,680,000 185,310,000 $3,684,220,000 182-Day Treasury Bills Maturing February 28, 1974 Accepted $ 30,690,000 2,023,740,000 23,155,000 36,840,000 29,085,000 23,575,000 121,515,000 24,045,000 10,715,000 24,305,000 25,510,000 127,130,000 $2,500,305,000a Accepted Applied for $ 23,425,000 2,694,980,000 11,715,000 51,825,000 21,990,000 19,830,000 268,095,000 56,000,000 12,535,000 26,600,000 44,660,000 213,045,000 $3,444,700,000 $ 13,065,000 1,424,480,000 11,715,000 41,420,000 19,130,000 15,970,000 42,325,000 24,500,000 4,175,000 18,170,000 13,710,000 171,745,000 $1,800,405,000b a Includes $328,050,000 noncompetitive tenders accepted at the average price of 97.809. b Includes $226,165,000 noncompetitive tenders accepted at the average price of 95.664. A lfred H ayes , President.
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