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federal Reserve bank of Dallas F ISC A L A G ENT O F T H E UNITED ST A T E S D ALLAS, TEXAS 75222 Circular No. 68-36 February 8, 1968 PRELIMINARY ANNOUNCEMENT TREASURY FINANCING To All Banking Institutions and Others Concerned in the Eleventh Federal Reserve District: There is quoted below a press statement issued today by the Treasury Department in regard to current financing: TREASURY ANNOUNCES BILLION NEW CASH BORROWING The Treasury Department announced today that it is offering for cash subscription billion, or thereabouts, of 15 -month 5 5 /8$ Treasury Notes of Series B-I969 at par. The Notes will be dated February 2 1 , 1968, will mature May 1 5 , 1 9 6 9 ? and will be issued in registered and bearer form. Interest will be payable on May 15 and November 1 5 , 1968, and May 1 5 , 1 9 6 9 * Subscriptions will be received for one day only, on Tuesday, February 1 3 • Any subscription, with required deposit, addressed to a Federal Reserve Bank or Branch, or to the Treasurer of the United States, Washington, D. C. 202 20 , and placed in the mail before midnight February 1 3 , 1968, will be considered timely. The payment date for the notes will be February 2 1 , 1968. be made through credit to Treasury Tax and Loan Accounts. Payment may Subscriptions from banking institutions for their own account, Federallyinsured savings and loan associations, States, political subdivisions of instrumentalities thereof, public pension and retirement and other public funds, international organizations in which the United States holds membership, foreign central banks and foreign States, dealers who make primary markets in Government securities and report daily to the Federal Reserve Bank of New York their positions with respect to Government securities and borrowings thereon, and Government Investment Accounts will be received without deposit. Subscrip tions from all others must be accompanied by payment of 2 percent of the amount of notes applied for, not subject to withdrawal until after allotment. Subscriptions from commercial banks, for their own account, will be restricted in each case to an amount not exceeding 50 percent of the combined capital (not including capital notes or debentures), surplus and undivided profits of the subscribing bank. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) The Secretary of the Treasury reserves the right to reject or reduce any subscription, to allot less than the amount of notes applied for, and to make different percentage allotments to various classes of subscribers. Subject to these reservations subscriptions in amounts up to and including $200,000 will be allotted in full and subscriptions over $200,000 will be allotted on a percentage basis but not less than $200,000. Commercial banks and other lenders are requested to refrain from making unsecured loans, or loans collateralized in whole or in part by the notes subscribed for, to cover the deposits required to be paid when subscriptions are entered, and banks will be required to make the usual certification to that effect. All subscribers are required to agree not to purchase or to sell, or to make any agreements with respect to the purchase or sale or other dispo sition of the notes subscribed for under this offering at a specific rate or price, until after midnight February 1 3 , 1968. The official circular and subscription forms for the new issue of Treasury notes will be mailed Friday, February 9 j however, if the forms do not reach you by Tuesday, February 13, subscriptions may be entered by mail or telegram, subject to confirmation on official subscription blanks. Yours very truly, P. E. Coldwell President
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