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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