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FED ER A L RESERVE BANK O F NEW YORK Fiscal Agent of the United States Circular No. 8066 I March 4. 1977 J Results of Treasury’s 364-Day Bill Auction T o A ll In c o r p o r a te d B a n k s a n d T ru st C o m p a n ie s, a n d O th e rs C o n ce rn ed , in th e S e c o n d F e d e ra l R e se r v e D istr ic t: The following auction results were announced by the Treasury Department on March 2: Tenders for $3,105 million of 52-week Treasury bills to be dated March 8, 1977, and to mature March 7, 1978, were accepted at the Federal Reserve Banks and Treasury today. The details are as follows: Range of Accepted Competitive Bids High .................................. Low .................................. ................... Average ............................ ................... P ric e D isc o u n t R a te I n v e s tm e n t R a te 1 94.707 94.716 5.200% 5.235% 5.226% 5.49% 5.53% 5.52% *Equivalent coupon-issue yield. Tenders at the low price were allotted 3 percent. Total Tenders Received and Accepted F .R . D is tr ic t (a n d U .S . T rea su ry) Boston ......................................... New York.................................... Philadelphia................................ Cleveland..................................... Richmond .................................. A tlanta......................................... C h ica g o ....................................... St. Louis....................................... Minneapolis................................ Kansas City................................ Dallas........................................... . San F ran cisco............................ U.S. T reasu ry................................ R e c e iv e d i 56,250,000 4,851,700,000 35,855,000 92,990,000 100,760,000 19,145,000 395,130,000 42,425,000 65,735,000 13,435,000 20,150,000 468,130,000 80,000 A c c e p te d $ 28,000,000 2,405,410,000 11,005,000 27,990,000 87,260,000 17,145,000 251,280,000 17,575,000 30,885,000 8,935,000 6,210,000 213,475,000 80,000 T otal......................................... $6,161,785,000 $3,105,250,000 The $3,105 million of accepted tenders includes $62 million of noncompetitive tenders from the public and $1,052 million of tenders from Federal Reserve Banks for themselves and as agents of foreign and international monetary authorities accepted at the average price. An additional $102 million of the bills will be issued to Federal Reserve Banks as agents of foreign and international monetary authorities for new cash. PAUL A. VOLCKER, P r e s id e n t.
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