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FEDERAL RESERVE BANK OF DALLAS
FISCAL AGENT O F THE UNITED STATES

Dallas, Texas, April 18, 1961

N O T IC E R E G A R D IN G TREASURY F IN A N C IN G

To A Banking Institutions and Others Concerned
M
in the Eleventh Federal Reserve District:

There is quoted below a press statement issued today by the Treasury Department in
regard to current financing:
“The holders of $3,674 million of 4% percent Certificates of Indebtedness of Series
B-1961, dated May 15, 1960, maturing May 15, 1961, and holders of $4,078 million of
3% percent Treasury Notes of Series B-1961, dated December 1, 1958, maturing
May 15, 1961, will not be offered preemptive rights to exchange their holdings for new
securities to be offered early next month. The maturing certificates and notes, aggre­
gating $7,752 million, will be paid off in cash. Approximately $4,800 million of the
certificates and notes are publicly held.
“The necessary funds to pay off the maturing certificates and notes will be pro­
vided by another issue, or other issues, of direct Treasury obligations offered for cash
subscriptions. Subscribers to such new issue, or issues, who hold the maturing certifi­
cates and notes may, if they wish, deposit them at face value in lieu of any cash down
payments required with subscriptions. To the extent subscribers are allotted the new
securities, the Treasury will accept the maturing securities in lieu of cash in making
final payments.
“The announcement of the terms of the new issue, or issues, will be made later
this month.”

Yours very truly,
Watrous H. Irons
President

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


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