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FED ER A L RESERVE BANK OF NEW YORK Fiscal Agent of the United States r L Circular No. 7 3 5 0"1 February 27, 1974 J Results of Treasury’s 46-Day Tax Anticipation Bill Auction To A ll Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal R eserv e D istrict: The following statement was issued by the Treasury Department and released at 6:30 p.m., yesterday: Tenders for $1.5 billion of 46-day T rea su ry tax anticipation bills to be issued M arch 4, 1974, and to mature A pril 19, 1974, were opened at the Federal Reserve Banks today. T he details are as fo llo w s : T otal applied fo r .. $3,757,725,000 T otal accepted ...... $1,500,145,000 (In clu d es $214,825,000 entered on a non com petitive basis and accepted in full at the average price shown below .) Range of accepted com petitive b id s : H igh ............................... 99.106 Equivalent rate o f discount approx. 6 .9 9 7 % per annum. L ow ................................. 99.027 Equivalent rate of discount approx. 7 .6 1 5 % per annum A verage 99.048 Equivalent rate o f discount approx. 7.4 5 0 % per annum 1 ........................ 1 This is on a bank discount basis. The equivalent coupon issue yeld is 7.63 percent. (2 4 percent of the amount bid for at the low price was accepted.) Federal R eserve District Boston .................................................................. N ew Y o rk ......................................................... Total applied fo r $ 167,090,000 1,867,855,000 Total accepted $ 140,090,000 265,575,000 Philadelphia ...................................................... 76,210,000 26,210,000 Cleveland ........................................................... 91,280,000 64,930,000 R ichm ond ........................................................... 33,275,000 29,475,000 Atlanta ................................................................ Chicago ................................................................ 14,515,000 441,480,000 14,015,000 231,580,000 St. L ouis ............................................................. M in n e a p o lis........................................................ Kansas City ...................................................... Dallas ................................................................. 36,690,000 554,030,000 181,545,000 26,805,000 28,690,000 465,280,000 180,545,000 26,805,000 San Francisco .................................................. 266,950,000 26,950,000 T otal ................................................... $ 3 ,757,725,000 $1,500,145,000 A lfred H ayes, President.
@FedFRASER