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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.