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FEDERAL RESERVE BANK OF DALLAS
F I S C A L A G E N T O F T H E U N IT E D S T A T E S

Dallas, Texas, November 22, 1950

PRELIMINARY ANNOUNCEMENT
EXCHANGE OFFERINGS

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 December, 1950, and January, 1951, financing:
“ Secretary of the Treasury Snyder announced today that owners
of the Treasury Bonds of 1950, maturing December 15, 1950, and
owners of the Treasury Certificates of Indebtedness maturing Jan­
uary 1, 1951, will be offered a 1% percent five-year Treasury Note.
The bonds will be exchanged par for par on December 15 and the
certificates at par with an adjustment of interest on January 1.
The new note will be dated December 15, 1950. The subscription
books for this offering will open on Monday, December 4. The
maturing bonds and certificates are outstanding in the amounts of
$2,635,433,500 and $5,372,668,000, respectively.”
Official offering circulars and subscription forms for the exchange will
be mailed so as to reach all banking institutions on or before the dates the
books are opened. If the circulars and forms are not received in sufficient
time, however, subscriptions may be entered by mail or by telegram, sub­
ject to confirmation with an official application blank.

Yours very truly,
R. R. GILBERT
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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