View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

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)


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102