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FE D E R A L RESERVE B AN K O F DALLAS
FISC A L AGENT O F TH E UNITED STATES
DALLAS, TEXAS 7 5 2 2 2

C ir c u la r N o. 7 0 -2 5 1
O c t o b e r 2 2 , 97 O
I

PRELIMINARY ANNOUNCEMENT
TREASURY FINANCING

To All Banking Institutions and Others Concerned
in the Eleventh Federal Reserve District:
There is quoted below a press statement issued today by the Treasury
Department in regard to current financing:
TREASURY ANNOUNCES NOVEMBER FINANCING PLANS
The Treasury announced today that it is offering holders
of $7*7 billion of 5$ Treasury Notes of Series A-1970 matur­
ing November 15, 1970, the right to exchange their holdings
for a 3-i-year Treasury Note or a 5-year 9-month 7-i$ Treas­
ury Note. The public holds about $6.0 billion and Government
accounts and Federal Reserve Banks hold about $1.6 billion of
the notes eligible for exchange.
The notes being offered in exchange are:

T i i Treasury Notes of Series D-197^- dated November 15,
-f
1970, due May 15, 197^, at par; and
An additional amount of 7-|$ Treasury Notes of Series

C-I976 dated October 1, 1 9 6 9 * ^ue August 15, 1976, at 100.50
(to yield about 7*39$) and accrued interest from August 15
to November 15, 1970, ($18.75 per $1,000); $1-7 billion of
these notes are outstanding.
Subscription books for the exchange offering will be
open until 8 p.m., local time, Thursday, October 29, 1970.
To be timely subscriptions .must be received by a Federal
Reserve Bank or Branch or by the Office of the Treasurer of
the United States by such time, except that subscriptions
addressed to a Federal Reserve Bank or Branch or to the
Office of the Treasurer of the United States postmarked
before midnight Wednesday, October 28, 1970, will be deemed
to be timely. Banks need submit by the closing hour only
the total amount of customers subscriptions for each new
issue provided that the usual detailed information for such
subscriptions is furnished by Friday, October 30.

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

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Cash subscriptions will not be accepted.
The notes will be made available in registered as well
as bearer form in denominations of $1,000, $5,000, $10,000,
$100,000 and $1,000,000. All subscribers requesting regis­
tered notes will be required to furnish appropriate identify­
ing numbers as required on tax returns and other documents
submitted to the Internal Revenue Service.
Coupons dated November 15, 1970, on notes tendered in
exchange should be detached and cashed when due. The November
15, 1970, interest due on registered notes will be paid by
issue of interest checks in regular course to holders of
record on October 15, 1970, the date the transfer books closed.
The payment and delivery date for the notes will be November 16 .
The official circulars and subscription forms for the two issues of
Treasury notes will be mailed in time to reach you by Monday, October 26;
however,should you not receive the forms by Wednesday, October 28, subscrip­
tions may be entered by mail or telegram, subject to confirmation on official
subscription blanks.
Yours very truly,
P. E. Coldwell
President


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102