View original document

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

Fed er a l Reser v e ba n k o f Dalla s
F IS 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 7 5 2 2 2

Circular No. 69-22
January 29? 19&9

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 $1^.5 BILLION FEBRUARY REFUNDING
The Treasury today announced that it is offering holders
of the notes and bonds maturing February 15, 19^9? the right
to exchange their holdings for a 1 5 -month note or a 7-year
note.
The securities eligible for exchange are:
$10,738 million of 5-5/8°Jo Treasury Notes of Series A -1969? and
$3,728 million of b% Treasury Bonds of 1969 (dated August 15,
1962)
.

The notes being offered are:
6-3/8$ Treasury Notes of Series C-1970, dated February 15,
1 9 6 9 , due May 1 5 , 1970, at 99«95 to yield about 6.^2$, and

6-1/hrfo Treasury Notes of Series A-1976, dated February 15,
1 9 6 9 , due February 15, 1976, at 99*75 to yield about 6.29$.
Subscribers will receive a cash payment for the difference
between the par value of the maturing securities and the offer­
ing price of the new securities.
The public holds about $5-^ billion of the securities
eligible for exchange, and about $9-1 billion is held by Fed­
eral Reserve and Government Accounts.

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

- 2 -

Cash subscriptions for the new notes will not be received.
The books will be open for three days only, on February 3 through
February 5? for receipt of subscriptions. Subscriptions 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 February 5, will be considered as timely. The payment
.
and delivery date for the notes will be February 17? 1969* The
notes will be made available in registered as well as bearer
form. All subscribers requesting registered notes will be re­
quired to furnish appropriate identifying numbers as required
on tax returns and other documents submitted to the Internal
Revenue Service.
Coupons dated February 15? 19^9? on the maturing securities
should be detached and cashed when due. The February 15? 1969?
interest due on registered securities will be paid by issue of
interest checks in regular course to holders of record on Jan­
uary 1 5 ? 1 9 6 9 ? the date the transfer books closed.
Interest on the 6-3/8$ notes will be payable on May 15
and November 15? 19^9? and May 15? 1970. Interest on the 6-1/b%
notes will be payable on August 15? 1969? and thereafter on
February 15 and August 15 until maturity.
The official circulars and subscription forms for the new issues of
Treasury notes will be mailed Thursday, January 30; however, if the forms
do not reach you by Wednesday, February 5? subscriptions may be entered
by mail or telegram, subject to confirmation on official subscription
blanks.

Yours very truly,
P. E. Coldwell
President

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