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FEDERAL RESERVE BANK OF DALLAS FISCAL. A G E N T O F T H E U N ITE D ST A T E S Dallas, Texas, June 5, 1958 ALLOTMENT ANNOUNCEMENT 3!4 PERCENT TREASURY BONDS OF 1985 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 announcing the basis o f allotment on cash subscriptions for the current offering of 314 percent Treasury Bonds of 1985: “ The Treasury today announced a 60 percent allotment to savings-type investors, a 40 percent allotment to commercial banks for their own account, and a 25 percent allotment to all other subscribers for the current cash offering of $1 billion, or thereabouts, of 314 percent Treasury Bonds of 1985. Subscrip tions for $5,000 or less will be allotted in full. Subscriptions for more than $5,000 will Jbe allotted not less than $5,000. In addition to the amount allotted to the public, $100 million of these bonds will be allotted to Government Investment Accounts. “ The savings-type investors whose subscriptions are given a 60 percent allotment are as follows: mutual savings banks; savings and loan associations; building and loan associations; cooperative banks; credit unions; insurance companies; pension, profit sharing and retirement funds — state and local, corporate; fraternal benefit associations and labor unions for their insurance funds; common trust funds, and endowment funds of educational, eleemosynary institutions and other non-profit organizations. “ Commercial banks have been given a preferential allotment as compared with other classes of subscribers, other than savings-type investors, in view of the fact that subscriptions which commercial banks could submit for their own account were restricted to a low percentage of their savings deposits or capital funds, whereas no limitation was placed on other classes of subscribers. “ Reports received thus far from the Federal Reserve Banks show that sub scriptions total about $2,570 million, of which $860 million were received from subscribers in the savings-type investor groups, $530 million from commercial banks for their own account, and $1,180 million from all others. Details by Federal Reserve Districts as to subscriptions and allotments will be announced when final reports are received from the Federal Reserve Banks.” 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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