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F E D E R A L R E S E R V E BA N K O F N EW YO R K Fiscal Agent of the United States No. 8 2 0 4 *1 [Circular October 19, 1977 J Results of Bidding for 91-Day and 182-Day Treasury Bills (To Be Issued October 20, 1977) T o A l l I n c o r p o r a te d B a n k s a n d T r u s t C o m p a n ies, a n d O th e r s C o n ce rn ed , in th e S e c o n d F e d e r a l R e s e r v e D is tr ic t: The results of bidding for the offering of 91-day and 182-day Treasury bills to be issued October 20, 1977, have been released by the Treasury Department. These results are shown below: Range of Accepted Competitive Bids 91-Day Treasury Bills Maturing January 19, 1978 High .............................................. Low ................................................ Average ........................................ P r ic e 98.422 98.409 98.412 D isc o u n t R a te 6.243% 6.294% 6.282% 182-Day Treasury Bills Maturing April 20, 1978 I n v e s tm e n t R a te 1 D isc o u n t P r ic e 96.725 a 96.710 96.716 6.43% 6.48% 6.47% I n v e s tm e n t R a te R a te 6.478% 6.508% 6.496% 1 6.79% 6.82% 6.81% 1 Equivalent coupon-issue yield. a Excepting one tender of $60,000. (21 percent of the amount of 91-day bills bid for at the low price was accepted.) (17 percent of the amount of 182-day bills bid for at the low price was accepted.) Total Tenders Received and Accepted F .R . D is tr ic t (a n d U .S . T r e a s u r y ) 91-Day Treasury Bills Maturing January 19, 1978 R e c e iv e d A c c e p te d 182-Day Treasury Bills Maturing April 20, 1978 A c c e p te d R e c e iv e d Boston ...................................... $ 27,790,000 New York ................................ 3,659,240,000 Philadelphia .............................. 21,245,000 Cleveland .................................. 58,295,000 25,335,000 Richmond.................................. Atlanta ...................................... 27,700,000 182,700,000 Chicago .................................... St. Louis .................................. 37,860,000 9,360,000 Minneapolis .............................. Kansas City .............................. 33,885,000 Dallas ........................................ 13,985,000 San Francisco .......................... 181,690,000 $ 27,790,000 1,898,675,000 21,245,000 47,795,000 24,335,000 26,700,000 118,670,000 22,860,000 9,360,000 30,885,000 13,985,000 57,450,000 $ 26,620,000 4,575,650,000 48,065,000 39,465,000 25,755,000 22,625,000 275,985,000 32,890,000 20,315,000 23,285,000 11,345,000 265,180,000 $ 11,620,000 2,960,290,000 28,065,000 14,465,000 19,925,000 20,825,000 193,485,000 15,890,000 10,315,000 23,285,000 11,345,000 91,030,000 U.S. Treasury.......................... 330,000 $2,300,080,000 b 250,000 $5,367,430,000 250,000 $3,400,790,000c T otals 330,000 ................................... $4,279,415,000 b Includes $407,835,000 noncompetitive tenders from the public. c Includes $202,230,000 noncompetitive tenders from the public. P a u l A. V olcker , President.
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