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F E D E R A L R E S E R V E BANK O F DALLAS FISCAL. A G E N T O F T H E U N IT E D ST A T E S Dallas, Texas, April 24, 1963 PRELIMINARY ANNOUNCEMENT EXCHANGE OFFERING To All Banking Institutions an d Others Concerned in the Eleventh Federal Reserve District: A press statem ent issued by the Treasury D epartm ent today in regard to current financing is quoted below: Treasury Announces $9.5 Billion May 15 Refunding T he Treasury is offering holders of Treasury securities m aturing M ay 15, aggregating $9,495 million, the right to exchange them for any of the following securities: A 3 X % Treasury Certificate of Indebtedness of Series B-1964, to be dated M ay 15, 1963, and A to m ature M ay 15, 1964, at par; or An additional amount of 3 % % Treasury Notes of Series B-1966, dated M ay 15, 1962, and m aturing February 15, 1966, of which $2,380 million are now outstanding, a t par and accrued interest from February 15 to M ay 15, 1963. Cash subscriptions for the new securities will not be received. The m aturing issues eligible for exchange are as follows: $5,284 million of 3 X % Treasury Certificates of Indebtedness of Series B-1963, dated M ay 15, A 1962, $1,183 million of 4% Treasury Notes of Series B-1963, dated April 1, 1959, and $3,027 million of 3 X % Treasury Notes of Series D-1963, dated M ay 15, 1961. A Exchanges of the maturing 3 X % certificates and the 4% and 3 % % notes will be made in a A like face amount of the new securities as of M ay 15. Coupons dated M ay 15 on the maturing certifi cates and notes should be detached and cashed when due. The subscription books will be open only on April 29 through M ay 1 for the receipt of subscrip tions. Subscriptions for either issue addressed to a Federal Reserve Bank or Branch, or to the office of the Treasurer of the United States, and placed in the mail before midnight, M ay 1, will be considered as timely. The paym ent and delivery date for the new securities will be M ay 15, 1963. The new certificates of indebtedness will be available only in bearer form. The new notes will be made available in registered as well as bearer form. All subscribers requesting registered notes will be required to furnish appropriate identifying numbers as required on tax returns and other documents submitted to the Internal Revenue Service. Interest on the 3 X % certificate will be payable on November 15, 1963, and M ay 15, 1964. A Interest on the 3 % % notes is payable on February 15 and August 15. Official circulars and subscription forms for the new Treasury certificates and the additional issue of Treasury notes will be mailed to reach all banking institutions by Monday, April 29, 1963, 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)