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

Dallas, Texas, February 13, 1952

PRELIMINARY ANNOUNCEMENT
EXCHANGE OFFERINGS

To A ll Banking Institutions and O thers Concerned,
in the Eleventh Federal Reserve D istrict:

There is quoted below a press statement issued today by the Treasury Department
in regard to the March financing to refund the 2*/2 percent Treasury Bonds of 1952-54
called for redemption on March 15, 1952, and the 1% percent Certificates of Indebtedness
of Series A-1952, maturing April 1, 1952:
“ Secretary Snyder announced today that the Treasury will offer on Monday,
February 18, a 2% percent Treasury Bond to refund the 21/2 percent Treasury
Bonds of 1952-54 called for redemption on March 15, 1952, in the amount of
$1,023,568,350. The new bonds will be dated March 1, 1952, will mature on March
15, 1959, and will be subject to call for redemption on and after March 15, 1957.
Interest will be adjusted as of March 15, 1952.
“ The Secretary also announced that holders of the 1% percent Certificates of
Indebtedness of Series A-1952 maturing April 1, 1952, in the amount of $9,524,077,000, will be offered at the same time a 1% percent Certificate of Indebtedness
to be dated March 1, 1952, and to mature February 15, 1953. Interest will be
adjusted as of March 1, 1952, with respect to this exchange.
“ The Secretary said that the option to call for redemption on June 15, 1952, the
three issues of Treasury Bonds which are eligible to be called on that date will
not be exercised.”
The official circulars and subscription forms for the exchange offerings will be mailed
to reach all banking institutions on or before February 18, the date the books are opened.
If the circulars and forms are not received in sufficient time, however, subscriptions may
be entered by mail or by telephone, subject to confirmation with an official application
blank.
Very truly yours,
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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