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FEDERAL RESERVE BANK OF DALLAS
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, October 27, 1965

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:
Highlights of November Refinancing

The Treasury today released the terms for refinancing $9.7
billion of notes that will mature on November 15. This financing
will take the form of a cash offering of a new 18-month, 4 Vi per­
cent note in the amount of $9.7 billion. The new note will be
priced at 99.83 to yield approximately 4.37%. Books will be open
for subscriptions only on Monday, November 1.
Remaining requirements for new cash for the balance of this
calendar year are now estimated at $2.0-2.5 billion. It is antici­
pated that this cash will be provided by an issue of June Tax
Anticipation Bills in late November.
The Treasury also announced minimum allotment provisions
have been made to facilitate the reinvestment of the holdings of
smaller banks and investors, which account for a relatively large per­
centage of the maturing issues. The provisions are set out in more
detail in the accompanying description of terms.

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)