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FE D ERAL RESERVE BANK O F N E W YO RK Fiscal Agent of the United States r Circular No. 7 2 6 7 "1 L November 12, 1973 J R e s u lt s o f T r e a s u r y ’ s O f f e r o f $ 1 .1 B illio n S tr ip o f W e e k l y B i lls To All Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: T he follow ing statement was issued N ovem ber 9 by the T reasury D epartm ent: Tenders for additional amounts of eleven series of Treasury bills to an aggregate amount of $1,100,OCX),000, or thereabouts, to be issued November 14, 1973, were opened at the Fed eral Reserve Banks today. The amount of accepted tenders will be equally divided among the eleven issues of outstanding Treasury bills maturing November 23, November 29, De cember 6 , December 13, December 20, and December 27, 1973; January 3, January 10, January 17, January 24, and January 31, 1974. The details of the offering are as follows : Range of Accepted Competitive Bids Price H ig h ........................................ Low ........................................ Average ................................. Approx. equiv. annual rate of discount based on 43.1 days (average number of days to maturity) 98.977 98.953 98.962 8.545% 8.745% 8 .6 7 0 % 1 1 This is on a bank discount basis. The equivalent coupon issue yield is 8.88 percent. (32 percent of the amount bid for at the low price was accepted.) Tenders Applied for and Accepted (By Federal Reserve Districts) Federal Reserve District Boston........................................................... New Y o rk ..................................................... Philadelphia ................................................. Cleveland ............. Richmond ..................................................... Total applied for $ Total accepted 55,110,000 1,567,830,000 5,610,000 16,830,000 165,000 $ 11,110,000 824,725,000 110,000 5,830,000 165,000 Atlanta ......................................................... Chicago ......................................................... — 140,030,000 114,070,000 St. Louis....................................................... Minneapolis ................................................ Kansas City ................................................. Dallas - San Francisco ............................................ 3,300,000 220,000 660,000 220,000 363,000,000 220,000 660,000 220,000 143,000,000 T otal .......................................... $2,152,975,000 $1,100,110,0 00a a Includes $2,255,000 noncompetitive tenders accepted at the average price. A lfred H ayes, President.
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