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FEDERAL RESERVE BANK
OF NEW YORK
Fiscal Agent of the United States
Circular No. 10,043
Ju n e 4, 1986
OFFERING OF TWO SERIES OF TREASURY BILLS
$7,200,000,000 o f 91-Day Bills, To Be Issued Ju ne 12, 1986, Due September 11, 1986
$7,200,000,000 off 182-Day Bills, To Be Issued June 12, 1986, Due December 11, 1986
To A ll Banking Institutions, and O thers Concerned,
in the Second Federal R eserve D istrict:
The following notice has been issued by the Treasury Department:
The Department of the Treasury, by this public notice, invites tenders for two series of
Treasury bills totaling approximately $14,400 million, to be issued June 12, 1986. This offering
will result in a paydown for the Treasury of about $75 million, as the maturing bills are out
standing in the amount of $14,464 million. Tenders will be received at Federal Reserve Banks
and Branches and at the Bureau of the Public Debt, Washington, D.C. 20239, prior to 1:00 p.m.,
Eastern Daylight Saving time, Monday, June 9, 1986.
The two series offered are as follows:
91-day bills (to maturity date) for approximately $7,200 million, representing an addi
tional amount of bills dated March 13, 1986, and to mature September 11, 1986 (CUSIP
No. 912794 LC 6), currently outstanding in the amount of $6,868 million, the additional
and original bills to be freely interchangeable.
182-day bills for approximately $7,200 million, to be dated June 12, 1986, and to mature
December 11, 1986 (CUSIP No. 912794 LN 2).
The bills will be issued on a discount basis under competitive and noncompetitive bidding,
and at maturity their par amount will be payable without interest. Both series of bills will be
issued entirely in book-entry form in a minimum amount of $10,000 and in any higher $5,000
multiple, on the records either of the Federal Reserve Banks and Branches, or of the Department
of the Treasury.
The bills will be issued for cash and in exchange for Treasury bills maturing June 12, 1986. In
addition to the maturing 13-week and 26-week bills, there are $8,533 million of maturing 52-week
bills. The disposition of this latter amount was announced last week. Tenders from Federal
Reserve Banks for their own account and as agents for foreign and international monetary
authorities will be accepted at the weighted average bank discount rates of accepted competitive
tenders. Additional amounts of the bills may be issued to Federal Reserve Banks, as agents for
foreign and international monetary authorities, to the extent that the aggregate amount of tenders
for such accounts exceeds the aggregate amount of maturing bills held by them. For purposes of
determining such additional amounts, foreign and international monetary authorities are con
sidered to hold $1,828 million of the original 13-week and 26-week issues. Federal Reserve Banks
currently hold $1,913 million as agents for foreign and international monetary authorities, and
$5,593 million for their own account. These amounts represent the combined holdings of such ac
counts for the three issues of maturing bills. Tenders for bills to be maintained on the book-entry
records of the Department of the Treasury should be submitted on Form PD 4632-2 (for 26-week
series) or Form PD 4632-3 (for 13-week series).
This Bank will receive tenders at the time indicated in the above notice at the Securities Department
o f its Head Office and at its Buffalo Branch. Tender forms for both series are enclosed. Please be sure to
use them to submit tenders and return them in the enclosed envelope. Forms for submitting tenders
directly to the Treasury are available from the Government Bond Division o f this Bank. Tenders may not
be submitted by telephone. Settlement must be made in cash or other immediately available funds or in
maturing Treasury securities. Treasury Tax and Loan Note Option Depositaries may make payment for
Treasury bills by credit to their Treasury Tax and Loan Note Accounts.
A document containing the standard terms and conditions o f Treasury bill offerings may be
obtained from the Circulars Division o f this Bank. Results o f the previous weekly offering are shown on
the reverse side o f this circular.
E. Gerald Corrigan,
President.
(Over)
RESULTS OF LAST WEEKLY OFFERING OF TREASURY MILLS
(TWO SERIES TO ME ISSUED JUNE S9 1986)
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