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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States 10,086 October 8, 1986 Circular No. OFFERING OF TWO SERIES OF TREASURY BILLS $ 7 , 0 0 0 off 91-Bay Bills, To Be Issued October 16, 1906, Due January IS, 1987 $7,000,000,000 off 182-Day Bills, To Be Issued October 16, 1986, Due April 16, 1987 To All 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 $14,000 million, to be issued October 16, 1986. This offering will result in a paydown for the Treasury o f about $475 million, as the m aturing bills are outstanding in the am ount of $14,474 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 1:00 p.m ., Eastern Daylight Saving time, Tuesday, October 14, 1986. The two series offered are as follows: 91-day bills (to m aturity date) for approxim ately $7,000 million, representing an addi tional am ount o f bills dated July 17, 1986, and to m ature January 15, 1987 (CUSIP No. 912794 LS 1), currently outstanding in the am ount o f $7,483 million, the additional and original bills to be freely interchangeable. 182-day bills for approximately $7,000 million, representing an additional am ount of bills dated April 17, 1986, and to m ature April 16, 1987 (CUSIP No. 912794 MF 8), cur rently outstanding in the am ount o f $9,763 million, the additional and original bills to be freely interchangeable. The am ounts o f the bills are being reduced in order to ensure that the debt limit is not ex ceeded on October 16, 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 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 m ultiple, on the records either o f the Federal Reserve Banks and Branches, or of the D epart ment o f the Treasury. The bills will be issued for cash and in exchange for Treasury bills m aturing October 16, 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. 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 $1,269 million as agents for foreign and international m onetary authorities, and $3,657 million for their own account. Tenders for bills to be m ain tained on the book-entry records o f the Departm ent o f the Treasury should be subm itted on Form PD 4632-2 (for 26-week series) or Form PD 4632-3 (for 13-week series). This Bank will receive tenders at the time indicated in the above notice at the Securities Depart ment o f its Head Office and at its Buffalo Branch. Tender forms for both series are enclosed. Please be sure to use them to submit tenders and return them in the enclosed envelope. Forms for submitting tenders directly to the Treasury are available from the Government Bond Division of this Bank. Tenders may not be submitted by telephone. Settlement must be made in cash or other immediately available funds or in maturing Treasury securities. Treasury Tax and Loan Note Option Depositaries may make payment for Treasury bills by credit to their Treasury Tax and Loan Note Accounts. A document containing the standard terms and conditions of Treasury bill offerings may be obtained from the Circulars Division of this Bank. Results of the previous weekly offering are shown on the reverse side o f this circular. E . G e r a l d C o r r ig a n , President. (Over) RESULTS OF LAST WEEKLY OFFERING OF TREASURY BILLS (TWO SERIES TO BE ISSUED OCTOBER 9, 1986) M§8 OF ACCEPTED com petitive lI°W89k Milo M 8I D 81 b««ot6 lavaaseset, Rate L©W H ig h A V irg g # b ill* m i §sto 1/ 1,021 S .001 5 . 08% 5 , 16% S .T O 3 . 22% Tender® at tfo© high Prifta 91. 7)1 98,716 18,716 Diicounfc MZq * ! ! x Investment S. 138 5 . 15% 5 . 13% Rat© 5 , 36g 5 . 34* Boeten ttea Se?& Philadelphia Cleveland Richmond Atlanta Chicage ito Louif M£nn@ap©3,io EanQGO Dailif las Ffanciiao ??GGDUF^ totals M m Qmpatiti^a ^oaeosp©t£tlv$ $yfet©tal0 Puglia Padttal B g @®fvg Pas’ & p Official Q InititutiofiB TOTAL! 61,110 31,674,300 31,336 47,380 49,925 44,120 1,702,695 6|,|f0 21,600 30,ISO 41,630 1,189.805 340,943 1 42 6190 3}f64,IOO 31,530 47,3SQ 49 D92 5 440120 216.000 3S(i70 11,400 90,130 36,010 361,039 340.94S * 1 27,420 ' 21,949,949 1 $0,939 • SO,$40 J 21.910 8 21,795 ! $,0$8,«93 « 31,U O ! 30,010 s 07,609 ! IS,869 8 I.U7.270 8 391.173 336,336,940 87,888,745 8 $31,783,319 $8J,01J,090 -La_l47*51^ $84,159,80$ §4,014,295 1.147.SIS 88,141,810 i $19,031,483 « 841.8)0 «w > m > n % 1,879,033 1,879,031 J $7,396 17,407 M S 136,336,340 4/ S^uivalo^t coupon-ieaue yield. §5%, all©6£©^ 141, tenders m m m ® accepts^ (In Thoufende) Re£©iv@d Aeeijptdd i Received t Mm %hm m # gas £ iS^fseh M ile ^qfg h@ Toado?@ at the high ii©e@unt yate £©£ the 26^ve«k Mils Location y A £ £ g 2 tid I 27,420 6,483,135 2 0 ,1 1 1 3 0 .1 4 0 21,910 gTolfl 33, m 1 1. 140 1 0 ,0 2 0 4S.SS0 li.lil 46,270 - j a u a f?oI0isl4S 63,451,51* * 1»700( 000 1,100,000 «_MMS2 3 1.169.200 $7,220,743 » $32a7S2fSIS l M M M M $7,102,341 October 8, 1986 Correction of Treasury Bill Offering Circular (91-day Bills to be Issued October 9, 1986) Last week’s Treasury Bill announcement (Cir. No. 10,085, dated October 1, 1986) incorrectly stated, in the heading, the new 91-day bill as maturing January 9, 1988. maturity date for As the text of the notice indicates, the correct the 91-day bill, to be issued on October 9, 1986, is January 8, 1987. Circulars Division FEDERAL RESERVE BANK OF NEW YORK [Enc. Cir. 10,086]
@FedFRASER