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FEDER AL RESERVE BANK O F NEW YORK Fiscal Agent of the United States r C ircular No. 6 9 4 5 T L M ay 24, 1972 J Results of Treasury’s 9-Month and 12-Month Bill Offerings To A ll Incorporated B anks and T rust Companies, and Others Concerned, in the Second Federal Reserve D istrict: T he follow ing statem en t was 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 February 29, 1972, and the other series to be dated May 31, 1972, which were offered on May 17, 1972, were opened at the Federal Reserve Banks today. Tenders were invited for $500,000,000, or thereabouts, of 273-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 273 -Day Treasury Bills Maturing February 28 , 1973 High ........................ Low ........................ A verage.................... 365 -Day Treasury Bills Maturing May 3 1,19 7 3 Price A pprox. equiv. annual rate Price 96.713 96.675 96.688 4.335% 4.385% 4.367%1 95.519 95.412 95.473 A pprox. equiv. annual rate 4.420% 4.525% 4.465%* 1These rates are on a bank discount basis. The equivalent coupon issue yields are 4.55 percent for the 273-day bills, and 4.69 percent for the 365-day bills. (76 percent of the amount of 273-day bills bid for at the low price was accepted.) (58 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) 2 y3 -Day Treasury Bills Maturing February 28 ,19 73 D istrict Boston ................... ....... New York ............. ........ Philadelphia................... Cleveland ................ Richmond ............. ....... Atlanta ............. ....... Chicago .................. St. Louis ................ Minneapolis ............ Kansas C ity ............ Dallas ...................... San Francisco ........ T o t a l .................. ...... 15,210,000 1,306,355,000 420,000 5,185,000 700,000 12,765,000 131,840,000 16,570,000 17,630,000 12,570,000 23,970,000 71,700,000 $1,614,915,000 Applied for Accepted Applied for $ 365 -Day Treasury Bills Maturing May 3 1 , 1973 $ 210,000 457,870,000 420,000 5,185,000 700,000 765,000 13,870,000 11,330,000 630,000 2,570,000 1,970,000 4,700,000 $500,220,000a $ 15,030,000 1,776,255,000 1,775,000 1,340,000 12,385,000 17,770,000 123,555,000 32,465,000 18,260,000 16,640,000 23,620,000 110,975,000 $2,150,070,000 Accepted $ 1,030,000 963,255,000 1,775,000 1,340,000 8,385,000 9,770,000 62,715,000 31,465,000 14,260,000 6,640,000 6,620,000 92,765,000 $1,200,020,000*» aIncludes $10,670,000 noncompetitive tenders accepted at the average price of 96.688. bIncludes $20,005,000 noncompetitive tenders accepted at the average price of 95.473. A l f r ed H a y e s , President.
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