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FEDERAL RESERVE BANK OF DALLAS FISCAL AGENT O F THE UNITED STATES Dallas, Texas, June 2, 1961 PRELIM INARY A N N O U N C E M E N T TREASURY F IN A N C IN G 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: “The Treasury will borrow $1,800,000,000 to cover its current cash require ments, including the amount necessary to redeem that portion of the Treasury Tax Anticipation bills due Jime 22, 1961, which will not be used in payment of income taxes due June 15. “This amoimt will be borrowed through the sale of a “strip” of additional amoimts of eighteen series of outstanding Treasury bills maturing weekly from August 3, 1961, to November 30, 1961. The additional amount of each weekly series will be $100,000,000. “Tenders will be received for the additional bills on June 8, 1961, and tenders will be required to be submitted in units of $18,000, or even multiples thereof. A single price must be submitted for each unit of $18,000, or even multiple thereof. Amoimts issued on accepted tenders will be applied equally to each of the eighteen separate issues included in the offering. “Noncompetitive tenders for $180,000, or less (in even multiples of $18,000), without stated price from any one bidder will be accepted in full at the average price (in three decimals) of accepted competitive bids. “The additional bills will be issued on June 14, 1961, and pa3nment may be made by qualified depositaries through credit to Treasury Tax and Loan accounts.” Tenders for this offering of Treasury bills will be received by this bank and its branches at El Paso, Houston and San Antonio, up to eleven-thirty o’clock a.m.. Central Standard time, Thursday, June 8. Tender forms will be mailed to reach all banking insti tutions by Monday, June 5. 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)