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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States r C irc u la r N o. 7 0 0 81 *- September 27, 1972 -* Results of Treasury’s 9-Month and 12-Month Bill Offerings T o A ll Incorporated B anks and T ru st Com panies, and O thers Concerned, in the Second Federal R eserve D istric t: The following statement was issued by the Treasury Department and released at 6:30 p.m. yesterday : The Treasury Department announced that the tenders for two series of Treasury bills, one series to be an additional issue of the bills dated June 30, 1972, and the other series to be dated September 30, 1972, which were invited on September 20, 1972, were opened at the Federal Reserve Banks today. Tenders were invited for $500,000,000, or thereabouts, of 271-day bills and for $1,800,000,000, or thereabouts, of 360-day bills. The details of the two series are as follows: Range of A ccepted Com petitive Bids 271 -Day Treasury Bills Maturing June 30, 1973 P rice H ig h ........................ ............ Low .................... ............ Average .............. ............ 360-Day Treasury Bills Maturing September 2 3 ,19 73 A pprox. equiv. annual rate 95.997 95.964 95.976 A pprox. equiv. annual rate Price 94.523 94.450 94.471 5.318% 5.361% 5.346%1 5.477% 5.550% 5.529%! JThese rates are on a bank discount basis. The equivalent coupon issue yields are 5.60 percent for the 271-day bills, and 5.85 percent for the 360-day bills. (41 percent of the amount of 271-day bills bid for at the low price was accepted.) (84 percent of the amount of 360-day bills bid for at the low price was accepted.) T otal Tenders A pplied for and Accepted (By Federal Reserve Districts) 271 -Day Treasury Bills Maturing June 30, 1973 D istrict Boston .................... ...... New York .............. ...... Philadelphia............ Cleveland ................ Richmond .............. Atlanta .................... Chicago .................. St. Louis ................ Minneapolis ............ Kansas C ity ............ Dallas ...................... San Francisco ........ T o tal .................. ...... 15,100,000 1,188,010,000 15,450,000 15,810,000 510,000 3,920,000 156,930,000 25,515,000 15,500,000 11,890,000 43,200,000 55,860,000 $1,547,695,000 $ 100,000 432,160,000 5,450,000 2,310,000 510,000 3,920,000 36,930,000 7,515,000 2,500,000 1,690,000 1,200,000 5,860,000 $500,145,000a A ccepted A pplied for A ccepted A pplied for $ 360-Day Treasury Bills Maturing September 23, 1973 $ 66,895,000 3,068,960,000 24,310,000 73,025,000 45,030,000 17,380,000 472,185,000 53,080,000 30,610,000 21,095,000 30,615,000 241,040,000 $ 28,095,000 1,527,020,000 7,850,000 10,905,000 11,430,000 9,280,000 137,595,000 25,080,000 19,610,000 7,735,000 3,415,000 12,050,000 $1,800,065,000b $4,144,225,000 ^Includes $14,125,000 noncompetitive tenders accepted at the average price of 95.976. ^Includes $51,635,000 noncompetitive tenders accepted at the average price of 94.471. A lfred H ayes, President.
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