View original document

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

FEDERAL RESERVE BANK OF DALLAS
FISCAL AGENT O F THE UNITED STATES

Dallas, Texas, June 2, 1961

PRELIM INARY A N N O U N C E M E N T
TREASURY F IN A N C IN G

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:
“The Treasury will borrow $1,800,000,000 to cover its current cash require­
ments, including the amount necessary to redeem that portion of the Treasury
Tax Anticipation bills due Jime 22, 1961, which will not be used in payment
of income taxes due June 15.
“This amoimt will be borrowed through the sale of a “strip” of additional
amoimts of eighteen series of outstanding Treasury bills maturing weekly from
August 3, 1961, to November 30, 1961. The additional amount of each weekly
series will be $100,000,000.
“Tenders will be received for the additional bills on June 8, 1961, and
tenders will be required to be submitted in units of $18,000, or even multiples
thereof. A single price must be submitted for each unit of $18,000, or even
multiple thereof. Amoimts issued on accepted tenders will be applied equally
to each of the eighteen separate issues included in the offering.
“Noncompetitive tenders for $180,000, or less (in even multiples of
$18,000), without stated price from any one bidder will be accepted in full at
the average price (in three decimals) of accepted competitive bids.
“The additional bills will be issued on June 14, 1961, and pa3nment may be
made by qualified depositaries through credit to Treasury Tax and Loan
accounts.”
Tenders for this offering of Treasury bills will be received by this bank and its
branches at El Paso, Houston and San Antonio, up to eleven-thirty o’clock a.m.. Central
Standard time, Thursday, June 8. Tender forms will be mailed to reach all banking insti­
tutions by Monday, June 5.
Yours very truly.
Watrous H. Irons

President

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