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FEDERAL RE SE RV E BANK O F N E W YO RK Fiscal Agent of the United States r Circular No. 7 2 7 0~1 L November IS, 1973 J Results of Treasury’s Monthly Bill Offering To All Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: The following statement was issued by the Treasury Department and released at 6:30 p.m., yesterday: Tenders for $1.8 billion of 52-week Treasury bills to be dated November 20, 1973, and to mature November 19, 1974, were opened at the Federal Reserve Banks today. The details are as follows: Range of Accepted Competitive Bids High ..................... 92.282a L o w ....................... 92.157 Average .............. 92.206 Approximate equivalent annual rate 7.633% per annum Approximate equivalent annual rate 7.757% per annum Approximate equivalent annual rate 7.708% per annum1 a Excepting two tenders totaling $2,000,000. 1 This is on a bank discount basis. The equivalent coupon issue yield is 8.30 percent. (23 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 .............................................. Atlanta ................................................... Chicago .................................................. St. Louis................................................ Minneapolis .......................................... Kansas City .......................................... Dallas ..................................................... San Francisco ..................................... T o tal ................................................... Total accepted Total applied for $ $ 15,800,000 2,575,885,000 26,155,000 33,495,000 3,745,000 5,195,000 364,540,000 39,380,000 23,185,000 13,865,000 24,145,000 311,065,000 5,800,000 1,422,065,000 11,140,000 29,345,000 3,245,000 3,195,000 225,040,000 16,110,000 11,185,000 7,255,000 1,645,000 64,015,000 $1,800,040,000b $3,436,455,000 b Includes $32,065,000 noncompetitive tenders accepted at the average price. A lfred H ayes, President.