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FEDERAL RESEFl¥E B A M OF n e w YO^IC Fiscal Agent o f the United States Circular No. 10105 November 14, 1986 Offering © $99 If 7S©9 ®©09 © ©f 364°Bay Treasnry Bills ©© EDsitedl Novemlbeir 2§>9 1986 Be© Nevemfoer 27, 19S7 To All 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 Department of the Treasury, by this public notice, invites tenders for approximately $9,750 million of 364-day Treasury bills to be dated November 28, 1986, and to mature November 27, 1987 (CUSIP No. 912794 NP5). This issue will provide about $675 million of new cash for the Treasury, as the maturing 52-week bill is outstanding in the amount of $9,064 million. Tenders will toe received at Federal Reserve Banks and Brandies and at the Bureau off the Public Debit, Washington, D.C. 20239, prior to 1:00 p.m„, Eastern Standard time, Thurs day, November 20, 1986. 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. This 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 Depart ment of the Treasury. The bills will be issued for cash and in exchange for Treasury bills maturing November 28, 1986. In addition to the maturing 52-week bills, there are $15,064 million of maturing bills which were originally issued as 13-week and 26-weeks bills. The disposition of this latter amount will be announced next week. Federal Reserve Banks currently hold $2,974 million as agents for foreign and international monetary authorities, and $6,385 million for their own account. These amounts represent the combined holdings of such accounts for the three issues of maturing bills. 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 rate 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 considered to hold $100 million of the original 52-week issue. Tenders for bills to be maintained on the book-entry records of the Department of the Treasury should be submitted 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 of this circular. E. Gera ld C o r r ig a n , President. (Over) RESULTS OF PREVIOUS 52-WEEK OFFERING OF TREASURY BILLS (ISSUED OCTOBER 30, 1986) RANGE OF ACCEPTED COMPETITIVE BIDS* Discount Rate L ow High Average Investment Hate (Equivalent Coupon-Issue Y i e l d ) 5 o4 3% 5,45% 5 o44% 5 o74% 5.77% 5.75% Price 94.510 94.489 94.500 Tenders at th© high discount rat© were allotted 35%„ TENDERS RECEIVED AND ACCEPTED (In Thousands) Location Boston New York Philadelphia Cleveland Richmond Atlanta Chicago Sto Louis Minneapolis Kansas City Dallas San Francisco Treasury TOTALS Received $ 11,480 28,321,315 3,375 60,525 29,710 9,035 1,912,695 15,120 11,935 17,860 14,950 1,477,085 78,810 Accepted $ 11,480 8,676,065 3,375 34,025 23,210 9,035 449,945 9,120 11,935 16,210 6,700 420,185 78,810 $31,963,895 $9,750,095 $29,470,550 243,345 $29,713,895 $7,256,750 243,345 $7,500,095 2,100,000 2,100,000 150,000 150,000 $31,963,895 $9,750,095 Type Competitive Noncompetitive Subtotal, Public Federal Reserve Foreign Official Institutions TOTALS An additional $250,000 thousand of the bills will be issued to foreign official institutions for new cash.
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