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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States Circular No. 10,085 October 1, 1986 OFFERING OF TWO SERIES OF TREASURY BILLS $7,20®,©TO,®©® off 91=Day Bills, To Be Issued October 9, 1986, Owe January 8, 1987 $7,2®©,®©©,®©® off 182-Day Bills, To Be Issued October 9, 1986, Due April 9, 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 D epartm ent o f the Treasury, by this public notice, invites tenders for two series of Treasury bills totaling approxim ately $14,400 million, to be issued October 9, 1986. This offering will result in a paydown for the Treasury o f about $100 million, as the m aturing bills are outstanding in the am ount o f $14,489 million. Tenders will be received at Federal Reserve Banks and Branches and at the Bureau of the Public Debt, W ashington, D .C. 20239, prior to 1:00 p.m ., Eastern Daylight Saving time, M onday, October 6, 1986. The two series offered are as follows: 91-day bills (to m aturity date) for approxim ately $7,200 million, representing an addi tional am ount o f bills dated July 10, 1986, and to m ature January 8, 1987 (CUSIP No: 912794 LR 3), currently outstanding in the am ount of $7,435 million, the additional and original bills to be freely interchangeable. 182-day bills for approximately $7,200 million, to be dated October 9, 1986, and to m ature April 9, 1987 (CUSIP No. 912794 ME 1). T h e a m o u n t s o f t h e b ills a r e b e in g r e d u c e d in o r d e r t o e n s u r e t h a t t h e d e b t l i m i t is n o t e x ceed ed o n O c to b e r 9, 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. 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 m ultiple, on the records either of the Federal Reserve Banks and Branches, or of the D epart m ent o f the Treasury. The bills will be issued for cash and in exchange for Treasury bills m aturing October 9, 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 o f accepted competitive tenders. Also, due to Treasury’s need to plan for the debt level, the am ounts o f the bills issued to Federal Reserve Banks, as agents for foreign and international m onetary authorities, may not exceed the aggregate am ount o f m aturing bills held by them. Federal Reserve Banks currently hold $1,788 million as agents for foreign and international m onetary authorities, and $3,556 million for their own account. Tenders for bills to be m ain tained on the book-entry records of the Departm ent of the Treasury should be subm itted 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 o f 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) [Revised] RESULTS OF LAST WEEKLY OFFERING OF TREASURY BILLS (TWO SERIES TO BE ISSUED OCTOBER 2, 1986) OF ACCEPTED 13-week bill© ,TITIVE BIDS t ®atur&fti January 2„ 1987 Discount Jnv®§£ggnt Eat® 1/ kste 5,18% So 80% 1,20% High S.32S 5.34% 5.34% §6- ws®k bills ; ssturiftfl April Z, 1987 Discount Investment Hate l Sate 1/ ftim 98.676 s 1.35%#/ 98.671 8 S.38% 98,671 t 5.37% 5,58% 5,611 5.60% a/ Incepting, l tender of $500,000. 97,295 9?.290 97.285 ®t the high discount r&te for the ll~^$@k bills ^<tsr<g allotted §§|0 the high diecount m e f o r the 2 6 - w e e k b i l l s w e r e allotted %l%. T in d tr © ©t L o ca tio n S o & to n Y o rk TiNDEES EBCEIVID AND ACCEPTED (In Thousand©) Heeaived Accepted 5 Received Dalles Sen Francisco Treasury TOTALS 1 40,405 13,441,375 SO,495 17,860 44,570 46,355 1,971,370 400685 24o?5S 51,630 37,200 §67,630 311.915 $ 40,405 5 i>19? P025 30,495 37,510 44,570 66,355 283*320 21 fl670 19 oSOS 49,180 29,450 if>§ 9095 311,915 $27,004,245 $6,310,395 C ospgfcifciv® N o n co m p etitiv e S u b t o t a l0 P u b lic $23,866,265 1oOlS s270 IB", 882',535 $3,172,415 1,016.270 $4,188,685 1,772,710 1,772,710 b Q 349,000 349,000 $6,310,395 ^hiladelphii Clevglsad E ig h so n d A tla n ta C h ica g o S t » Loui© M n n e & p o li© iCanea® C i t y F id e ra l E tg arv e 9 9 Accepted 1 31p200 20,774,270 16,635 74.160 63,160 33,340 1,410,545 39064O 30&125 48,525 26,025 932,60$ 347,86$ $ 31,200 4,956,110 16,63S 62,160 43, 160 32,160 276*79$ 25,72© 30p123 48 o045 18,625 418,12$ 347*165 $23,828,095 $6,307,525 $20,112,310 836,013 $20,948,395 $2,591,810 836,015 $3,427,825 1,600,000 1,600,000 Q 4 1,279,700 1,279,700 9 $23,828,095 $6,307,52$ 00 09 J t 1 4 O * • 0 99 l t0 4 0 l l 9» *f Foreign Official In stitu tio n © TOTALS y $27,004,245 Equivalent e©up©n-i§sue yield ♦
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