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F E D E R A L R E S E R V E B A N K O F D A LL A S F IS C A L A G E N T O F T H E U N IT E D DALLAS, TEXAS STATES 75222 Circular No. 7^-279 October 16, 197^- To All Banking Institutions and Others Concerned in the Eleventh Federal Reserve District: Quoted below is the text of a statement issued by the Department of the Treasury yesterday concerning cash financing. TREASURY CASH FINANCING The Treasury will raise $2.5 billion of cash by auctioning up to $1.0 billion of notes maturing May 15, 1979? and up to$1.5 billion of bills maturing June 19, 1975. The l*-year 6-month notes will be auctioned on ayield basis, rather than the conventional price basis, on Wednesday, October 23Bidders must state the percentage yield they will accept to two decimal places. The coupon will be set, after the auction, to the l/8 of one percent which is nearest to the average yield on or below par. The payment and delivery date for the notes will be November 6, 197^5 payment may not be made by credit to Treasury tax and loan accounts. The 227-day bills will be auctioned on the conventional price basis on Tuesday, October 29. The payment and delivery date will be November payment may not be made by credit to Treasury tax and loan accounts. These bills may not be used in payment of Federal income taxes due June 15, 1975* Yours v e r y t r u l y , P. E. C o ld w ell P resid en t This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
