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FEDERAL. RESERVE BANK OF DALLAS FISCAL AGENT OF THE UNITED STATES Dallas, Texas, May 18, 1953 PRELIMINARY ANNOUNCEMENT EXCHANGE OFFERING To All Banking Institutions, and Others Concerned, in the Eleventh Federal Reserve D istrict: There is quoted below a press statement issued today by the Treasury Department: “ Secretary o f the Treasury Humphrey announced today that holders of the $4,963,000,000 o f certificates o f indebtedness maturing on June 1, and the $725,000,000 of Treasury Bonds o f 1953-55, called for redemption on June 15, will be offered in exchange one-year 2 percent Certificates o f Indebtedness, to be dated June 1. The certifi cates of indebtedness will be exchanged as of June 1. The called bonds will be exchanged as of June 15, subject to an interest adjust ment on the new certificates from June 1. % “The subscription books on this exchange will open on Wednes day, May 20, and will be closed in three days at the close of business Friday, May 22. “Full details of the offering will be given in the press statement and official circular, which will be made public Wednesday morning, May 20.” The official circular and subscription form s for the exchange offering will be mailed to all banking institutions on Tuesday, May 19, 1953. 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)