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F ederal R eserve Ba n k o f 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

75222
Circular No. 67-166
August 17, 1967

PRELIMINARY A NN O U NCEM ENT
TREASURY FIN A N C IN G

To All Banking Institutions a n d Others Concerned
in the Eleventh Federal Reserve District:

T h ere is quoted below a press statem ent issued today by the T reasury D epartm ent in regard to current
financing:
Treasury A n n ou n ce s $ 2 .5 Billion N e w Cash Borrowing

T h e T reasu ry D epartm ent announced today th a t it is offering for cash subscription $2.5 billion,
or thereabout, of 3V2 year 5 % % T reasu ry N otes of Series C-1971 a t a price of 99.92 (to yield
5 .4 0 % ).
T h e notes will be dated August 30, 1967, will m ature F eb ru ary 15, 1971, and will be issued in
registered and bearer form. In terest will be payable on F eb ru ary 15 and August 15.
Subscriptions will be received for o n e d a y only, on Tuesday, A ugu st 22. Any subscription, w ith
required deposit, addressed to a F ederal R eserve B ank or Branch, or to the T reasurer of the U nited
States, W ashington, D. C. 20220, and placed in the m ail before m idnight August 22, 1967, will be
considered timely.
T h e p aym ent date for the notes will be August 30, 1967. P ay m en t m ay be m ade through credit
to T reasu ry T ax and Loan Accounts.
Subscriptions from banking institutions for their own account, Federally-insured savings and
loan associations, States, political subdivisions or instrum entalities thereof, public pension and retireĀ­
m en t and other public funds, international organizations in which the U nited States holds m em bership,
foreign central banks and foreign States, dealers who m ake prim ary m arkets in G overnm ent securities
and rep o rt daily to the F ederal R eserve B ank of New Y ork their positions w ith respect to G overnm ent
securities and borrowings thereon, and G overnm ent Investm ent Accounts will be received w ithout
deposit. Subscriptions from all others m ust be accom panied by paym ent of 2 percent of the am ount of
notes applied for, not subject to w ithdraw al until after allotm ent.
Subscriptions from com m ercial banks, for their own account, will be restricted in each case to an
am ount not exceeding 50 percent of the com bined capital (n o t including capital notes or debentures),
surplus and undivided profits of the subscribing bank.
T h e S ecretary of the T reasu ry reserves th e right to reject or reduce any subscription, to allot less
th an the am ount of notes applied for, and to m ake different percentage allotm ents to various classes
of subscribers. A llotm ent notices will be sent out prom ptly upon allotm ent.
Com m ercial banks and other lenders are requested to refrain from m aking unsecured loans,
or loans collateralized in whole or in p a rt by the notes subscribed for, to cover the deposits required
to be paid when subscriptions are entered, and banks will be required to m ake th e usual certification
to th a t effect.
All subscribers are required to agree not to purchase or to sell, or to m ake any agreem ents w ith
respect to th e purchase or sale or other disposition of the notes subscribed for under this offering a t
a specific ra te or price, until after m idnight August 22, 1967.
T h e official circular and subscription forms for the new issue of T reasu ry notes will be m ailed Friday,
August 18; however, if the form s do not reach you by Tuesday, August 22, subscriptions m ay be entered by m ail
o r telegram , subject to confirm ation on official subscription blanks.
Y ours very truly,
W atrous H. Irons
P resident

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