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FED ER AL RESERVE BANK O F NEW YORK Fiscal Agent of the United States r C irc u la r N o. 6 9 0 2 '] F e b r u a r y 23, 1972 U J R esults of T reasu ry ’s 9-M onth and 12-M onth Bill Offerings To A ll Incorporated B anks and T ru st Companies, and Others Concerned, in the Second Federal Reserve D istrict: T he follow ing statem en t w as issued by the T re a su ry D ep artm en t and released a t 6 :3 0 p.m. y e s te rd a y : The Treasury Department announced that the tenders for two series of Treasury bills, one series to be an additional issue of the bills dated November 30, 1971, and the other series to be dated February 29, 1972, which were offered on February 15, 1972, were opened at the Federal Reserve Banks today. Tenders were invited for $500,000,000, or thereabouts, of 275-day bills and for $1,200,000,000, or thereabouts, of 365-day bills. The details of the two series are as follows: Range of Accepted Competitive Bids 275 -Day Treasury Bills Maturing November 30 , 1972 Price High ...................... ............. L o w ........................ ............. Average ............................. 97.0833 97.029 97.050 365 -Day Treasury Bills Maturing February 28 ,19 73 A pprox. equiv. annual rate Price 3.819% 3.889% 3.862%1 95.924 95.777 95.852 A pprox. equiv. annual rate 4.020% 4.165% 4.091 % ! aExcepting one tender of $215,000. iThese rates are on a bank discount basis. The equivalent coupon issue yields are 4.01 percent for the 275-day bills, and 4.28 percent for the 365-day bills. (5 percent of the amount of 275-day bills bid for at the low price was accepted.) (2 percent of the amount of 365-day bills bid for at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve Districts) District Applied for Boston ........................... New Y o r k ..................... Philadelphia................... Cleveland ....................... Richmond ..................... A tla n ta ........................... Chicago ......................... St. Louis ....................... Minneapolis ................... Kansas C ity ................... Dallas .......... ................... San Francisco............... T otal ..................... 275 -Day Treasury Bills 365 -Day Treasury Bills Maturing November 30 , 1972 Maturing February 28 ,19 73 Accepted Applied for $ 10,070,000 $ 70,000 $ 20,255,000 1,303,805,000 435,655,000 1,608,785,000 635,000 635,000 795,000 4,470,000 1,470,000 3,575,000 430,000 430,000 470,000 15,845,000 3,845,000 24,200,000 92,620,000 23,620,000 134,895,000 6,685,000 3,685,000 6,990,000 8,910,000 5,910,000 10,605,000 7,380,000 2,380,000 7,475,000 23,050,000 1,050,000 23,685,000 52,330,000 21,330,000 73,175,000 $1,526,230,000 $500,080,000b $1,914,905,000 $ Accepted 10,255,000 983,785,000 795,000 3,575,000 470,000 16,200,000 74,995,000 5,990,000 10,605,000 7,475,000 12,725,000 73,175,000 $ 1,200,045,000c blncludes $12,990,000 noncompetitive tenders accepted at the average price of 97.050. ^Includes $19,890,000 noncompetitive tenders accepted at the average price of 95.852. A lfred H a yes, President.
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