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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular No. 10,075 August 22, 1986 Offering of $9,500,000,000 o f 364-Day Treasury Bills Dated September 4 , 19§6 Dee September 3 , 19§7 To A ll Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The following is the text of a notice issued by the Treasury Department: The Departm ent of the Treasury, by this public notice, invites tenders for approxim ately $9,500 million of 364-day Treasury bills to be dated September 4, 1986, and to m ature September 3, 1987 (CUSIP No. 912794 NB6). This issue will provide about $700 million o f new cash for the Treasury, as the m aturing 52-week bill is outstanding in the am ount o f $8,806 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, Thursday, August 28, 1986. The bills will be issued on a discount basis under competitive and noncompetitive bidding, and at m aturity their par am ount will be payable without interest. This series o f bills will be issued entirely in book-entry form in a minimum am ount of $10,000 and in any higher $5,000 multiple, on the records either of the Federal Reserve Banks and Branches, or o f the D epart ment of the Treasury. The bills will be issued for cash and in exchange for Treasury bills m aturing September 4, 1986. In addition to the m aturing 52-week bills, there are $14,079 million o f m aturing bills which were originally issued as 13-week and 26-weeks bills. The disposition o f this latter am ount will be announced next week. Federal Reserve Banks currently hold $2,174 million as agents for foreign and international m onetary authorities, and $5,602 million for their own account. These am ounts represent the combined holdings of such accounts for the three issues of m aturing bills. Tenders from Federal Reserve Banks for their own account and as agents for foreign and international m onetary authorities will be accepted at the weighted average bank discount rate of accepted competitive tenders. Additional am ounts o f the bills may be issued to Federal Reserve Banks, as agents for foreign and international m onetary authorities, to the extent that the aggregate am ount o f tenders for such accounts exceeds the aggregate am ount of m aturing bills held by them . For purposes of determining such additional am ounts, foreign and international m onetary authorities are considered to hold $240 million o f the original 52-week issue. Tenders for bills to be m aintained on the book-entry records o f the Departm ent o f the Treasury should be subm itted on Form PD 4632-1. This Bank will receive tenders at the time indicated in the above notice at the Securities Depart ment of its Head Office and at its Buffalo Branch. A tender form is enclosed. Please be sure to use that form to submit the tender and return it in the enclosed envelope. Forms for submitting tenders directly to the Treasury are available from the Government Bond Division of 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 of Treasury bill offerings may be obtained from the Circulars Division of this Bank. Results of the previous 52-week bill offering are shown on the reverse side o f this circular. E . G e r a l d C o r r ig a n , President. (Over) RESULTS OF PREVIOUS 52-WEEK OFFERING OF TREASURY BILLS (ISSUED AUGUST 7, 1986) RANGE OF ACCEPTED COMPETITIVE BJBSs Lou D iscount Rat© Investm ent Mate (E q u iv a le n t Coupon- •Issue Y ie ld ) SoSOS 5„®2% So82& SolS^ €.18% 94 o136 €.18% 94 oSIS - High Average - P ric e 94.115 Tenders a t the h ig h d isco un t rate were a llo t t e d 59%. TIMBERS DECEIVED m ® ACCEPTED Him Thousands) Boston Mew York P h ila d e lp h ia Cleveland Richmond A tla n ta Chicago S t . Louis Minneapolis Kansas C i t y B a lia s San Francisco Treasury TOTALS Accepted Received Location $ 52,795 35, 114,510 4,100 10,755 13,900 11,400 1, 346, 835 18,930 9,755 19,380 12,605 1, 450, 320 98,760 $ 9,295 9, 348, 190 4,100 10,755 13,550 10,400 58,835 5,930 9, 755 16,380 2,605 13,320 98,760 $38,164,045 $ § , 601, 875 $35,765,955 298,090 $36,064,045 $7, 203, 785 298,090 $7/501,875 2, 000, 000 2, 000, 000 100,000 100,000 138,164/045 19, 601, 875 SE S. Com petitive Moneomp© t i t ive S ubtotal^ P u b lic Federal Reserve Foreign O f f i c i a l In s t it u t io n s TOTALS An a d d it io n a l$550,000 ' thousand o f the b i l l s w i l l be Issu e d in s t it u t io n s f o r new eesh= t o fo re ig n o f f i c i a l
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