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federal

Reserve

bank

of

Dallas

F ISC A L A G ENT O F T H E UNITED ST A T E S
D ALLAS, TEXAS

75222

Circular No. 68-36
February 8, 1968

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

BILLION NEW CASH BORROWING

The Treasury Department announced today that it is offering for cash
subscription
billion, or thereabouts, of 15 -month 5 5 /8$ Treasury Notes
of Series B-I969 at par.
The Notes will be dated February 2 1 , 1968, will mature May 1 5 , 1 9 6 9 ?
and will be issued in registered and bearer form. Interest will be payable
on May 15 and November 1 5 , 1968, and May 1 5 , 1 9 6 9 *
Subscriptions will be received for one day only, on Tuesday, February
1 3 • Any subscription, with required deposit, addressed to a Federal Reserve
Bank or Branch, or to the Treasurer of the United States, Washington, D. C.
202 20 , and placed in the mail before midnight February 1 3 , 1968, will be
considered timely.
The payment date for the notes will be February 2 1 , 1968.
be made through credit to Treasury Tax and Loan Accounts.

Payment may

Subscriptions from banking institutions for their own account, Federallyinsured savings and loan associations, States, political subdivisions of
instrumentalities thereof, public pension and retirement and other public
funds, international organizations in which the United States holds membership,
foreign central banks and foreign States, dealers who make primary markets in
Government securities and report daily to the Federal Reserve Bank of New
York their positions with respect to Government securities and borrowings thereon,
and Government Investment Accounts will be received without deposit. Subscrip­
tions from all others must be accompanied by payment of 2 percent of the amount
of notes applied for, not subject to withdrawal until after allotment.
Subscriptions from commercial banks, for their own account, will be
restricted in each case to an amount not exceeding 50 percent of the combined
capital (not including capital notes or debentures), surplus and undivided
profits of the subscribing bank.

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

The Secretary of the Treasury reserves the right to reject or reduce
any subscription, to allot less than the amount of notes applied for, and
to make different percentage allotments to various classes of subscribers.
Subject to these reservations subscriptions in amounts up to and including
$200,000 will be allotted in full and subscriptions over $200,000 will be
allotted on a percentage basis but not less than $200,000.
Commercial banks and other lenders are requested to refrain from
making unsecured loans, or loans collateralized in whole or in part by
the notes subscribed for, to cover the deposits required to be paid when
subscriptions are entered, and banks will be required to make the usual
certification to that effect.
All subscribers are required to agree not to purchase or to sell, or
to make any agreements with respect to the purchase or sale or other dispo­
sition of the notes subscribed for under this offering at a specific rate
or price, until after midnight February 1 3 , 1968.
The official circular and subscription forms for the new issue of Treasury notes
will be mailed Friday, February 9 j however, if the forms do not reach you by Tuesday,
February 13, subscriptions 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