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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent o f the United States Circular No. 10,078 September 3, 1986 OFFERING OF TWO SERIES OF TREASURY MELS $7,800,000,000 off 91=Day Bills, To Be Issued September 11, 1986, Due December 11, 1986 $7,80®,0©0,000 off 182=Day Bills, To Be Issued September 11, 1986, Due March 12, 1987 To A ll Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The following notice has been issued by the Treasury Department: The Departm ent of the Treasury, by this public notice, invites tenders for two series of Treasury bills totaling approximately $15,600 million, to be issued September 11, 1986. This offering will provide about $1,500 million of new cash for the Treasury, as the m aturing bills are outstanding in the am ount of $14,100 million. Tenders will be received at Federal Reserve Banks and Branches and at the Bureau off the Public Debt, W ashington, D .C. 20239, prior to 1:0® p.m ., Eastern Daylight Saving time, M onday, September 8, 1986. The two series offered are as follows: 91-day bills (to m aturity date) for approximately $7,800 million, representing an addi tional am ount of bills dated June 12, 1986, and to m ature December 11, 1986 (CUSIP No. 912794 LN 2), currently outstanding in the am ount of $7,220 million, the additional and original bills to be freely interchangeable. 182-day bills for approximately $7,800 million, to be dated September 11, 1986, and to mature March 12, 1987 (CUSIP No. 912794 MA 9). 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. Both series of 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 o f 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 11, 1986. 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 rates of accepted competitive tenders. Additional amounts of 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 . Federal Reserve Banks currently hold $1,480 million as agents for foreign and international m onetary authorities, and $3,596 million for their own account. Tenders for bills to be m aintained on the book-entry records o f the Departm ent o f 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 Depart ment of 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 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 weekly offering are shown on the reverse side of this circular. E . G e r a l d C o r r ig a n , President. (Over) RESULTS OF LAST WEEKLY OFFERING OF TREASURY KILLS (TWO SERIES TO I E ISSUED SEPTEMBER 4, 198®) H A M S @S? 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