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FED ER AL RESERVE BANK O F NEW YORK Fiscal Agent of the United States J"Circular No. 6 9 3 L April 26, 1972 1 Results 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 January 31, 1972, and the other series to be dated April 30, 1972, which were offered on April 19, 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 de tails of the two series are as follows: Range of Accepted Competitive Bids 365 -Day Treasury Bills Maturing April 30 , 1973 275 -Day Treasury Bills Maturing January 3 1 , 1973 High .... Low ..... Average Price Approx. equiv. annual rate Price A pprox. equiv. annual rate 96.780 96.737 96.766 4.215% 4.272% 4.234%! 95.593 95.554 95.577 4.347% 4.385% 4.362%1 1These rates are on bank discount basis. The equivalent coupon issue yields are 4.40 percent for the 275-day bills, and 4.58 percent for the 365-day bills. (2 percent of the amount of 365-day bills bid for at the low price was accepted.) (84 percent of the amount of 275-day bills bid for at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve Districts) 275 -Day Treasury Bills Maturing January 3 1 , 1973 D istrict Boston ........................... New Y o r k ................... Philadelphia .................. Cleveland ..................... Richmond ................... Atlanta ......................... Chicago ....................... St. Louis ..................... Minneapolis .................. Kansas C ity .................. Dallas ........................... San Francisco .............. T o t a l .................... Applied fo r $ 12,715,000 1,208,140,000 12,735,000 445,000 5,395,000 13,000,000 92,925,000 14,605,000 12,550,000 3,385,000 23,350,000 68,500,000 $1,467,745,000 Accepted $ 365 -Day Treasury Bills Maturing April 30 , 1973 Applied for Accepted 1,715,000$ 12,550,000 $ 550,000 404,340,0002,070,400,000 1,098,900,000 2,735,000 12,260,000 2,260,000 445,000 9,730,000 730,000 395,000 1,415,000 1,415,000 3,000,000 24,780,000 7,780,000 46,725,000 149,055,000 32,100,000 3,605,000 30,990,000 14,980,000 10,550,000 15,700,000 3,700,000 2,285,000 18,150,000 5,750,000 3,350,000 24,480,000 2,480,000 20,900,000 86,455,000 30,315,000 $500,045,000a $2,455,965,000 $1,200,960,000b ^Includes $16,015,000 noncompetitive tenders accepted at the average price of 96.766. bIncludes $29,255,000 noncompetitive tenders accepted at the average price of 95.577. A lfred H a yes, President.
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