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FEDERAL RESERVE BANK OF MEW YORK Fiscal Agent of the United States Circular No. 10107 November 19, 1986 OFFERING OF TWO SERIES OF TREASURY BILLS $8,® © ® ® off 9©=B&y Bills, To Be ta ie d November 28, 1986, Dnae February 26, 1987 © ,©® ,® ® $8,© ® ® © of 181-Bay Bills, To Be Issued November 28, 1986, Due May 28, 1987 ® ,®© ,© © To A ll Banking Institutions, and Others Concerned, in the Second Federal Reserve District: The follow ing notice has been issued by the Treasury Department: The Department of the Treasury, by this public notice, invites tenders for two series of Treasury bills totaling approximately $16,000 million, to be issued November 28, 1986. This offering will provide about $925 million of new cash for the Treasury, as the maturing bills are outstanding in the amount of $15,064 million. Tenders will be received at Federal Reserve Banks and Branches and at the Bureau of the Public Debt, Washington, B.C. 20239, prior to 1:00 p.m., Eastern Standard time, Monday, November 24, 1986. The two series offered are as follows: 90-day bills (to maturity date) for approximately $8,000 million, representing an addi tional amount of bills dated August 28, 1986, and to mature February 26, 1987 (CUSIP No. 912794 LY 8), currently outstanding in the amount of $7,826 million, the additional and original bills to be freely interchangeable. 181-day bills for approximately $8,000 million, to be dated November 28, 1986, and to mature May 28, 1987 (CUSIP No. 912794 MM 3). 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. Both 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 Department 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 13-week and 26-week bills, there are $9,064 million of maturing 52-week bills. The disposition of this latter amount was announced last week. 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 rates 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 $2,806 million of the original 13-week and 26-week issues. Federal Reserve Banks currently hold $2,906 million as agents for foreign and international monetary authorities, and $6,513 million for their own account. These amounts represent the combined holdings of such accounts for the three issues of maturing bills. Tenders for bills to be maintained on the book-entry records of the Department of 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 Department o f its H ead O ffice and at its B uffalo 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 D ivision o f this Bank. Tenders m ay 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 N ote Option Depositaries m ay make paym ent for Treasury bills by credit to their Treasury Tax and Loan N ote A ccounts. A docum ent containing the standard terms and conditions o f Treasury bill offerings m ay be obtained from the Circulars Division o f this Bank. Results o f the previous weekly offering are shown on the reverse side o f this circular. E. Gerald Corrigan , President. Please note that the current offering is fo r 90-day and 181-day Treasury bills. (Over) RESULTS OF LAST WEEKLY OFFERING OF TREASURY BILLS (TWO SERIES TO BE ISSUED NOVEMBER 17, 1986) MMOE 0F ACCEPTED Mil© COMPETITIVE BIDS*. m aturing fgbru&rv 19. 1987 f&iieount lev© ©meat Rst© _. toes H M e® 5.51% 5,54% 3.54% VI J F < & &i 98.645 98,631 9 $ , 03 a S.45% 5,44% S.66% s,e@% 1.67% 97,2S3 ©7,245 97.250 o o o o 5.36% 5.391 §.30% a/ i^ e o p tim 1 tend©? sash t b liu s s t y r i a i _Mav 21. 1007 discount" in v ts ta e n t l a te R*t@ 1/ P rice ItndSfB i t high discount sntQ 8 m fe n d e rt i t eh® high discount ?ste for 2S-^®@k h i l U wer© ®ll©tt§d ?2I, 26-week H i l l a ilo tia d 19 % , TENDERS RECEIVED m o ACCEPTED (la Location i©st©n New tort Philadelphia Cleveland IMeteoad Atlanta Chictgo Sto L@uiB HlfmeapoXii Kansas C i t y Dalles ion Pfi&eiieo Treaourf TOTALS Sfii Coepetltiv® Nooeonpetitive Subtotal, Public Federal Stsirv© foreign Official Sa©ti£u£i^n6 TOTALS y Thousand©) 0 Hec<&Sv©d Accepted l $ 1 1 6 $ 26,075 23,009 5595 13,585 20,950 40,115 24,700 1,488,095 36,670 28,380 37,800 22,600 1,312,100 203,?65 $ 24,075 7,161,205 13,585 20,950 38O06£ 24,700 186,185 30,670 16,330 37,800 12,600 161,300 293 r265 $8,018,285 t $26,331,930 $8,008,820 $32,©OQ„@25 9?0OB25 $33,877,650 $4,877,550 976,825 $5,854,775 t) 0 f t 9 $22,476,360 702,070 0 & $23,178,430 $4,153,250 702,070 $4,IIS,320 2 p123,410 2,123,410 ; 2,000,000 2,000,000 40,300 40,100 1,153,500 g 0 $26,331,930 0 S,163,100 v@d Ace@ptad 34,935 932401©5 22,000 3M*S 49,030 &8,25Q 1,287,145 40,390 40,020 3i s120 , 20,295 1*7*6,743 330n700 $ 34P9|5 6,855,365 22,000 39,005 44,030 36,050 76 ?205 22,410 21,290 38,120 19,295 477,440 330,700 $36,041,160 I $36,Q4)»160 ©at c o v p p r r iisu e p l s l d . $ 8 , o i ,m © t ? g B 0 4 t 6 7 0 6 $8,008,©20 November 19, 1986 Correction of Treasury Bill Results Notice (3-Month and 6-Month Bills to Be Issued November 20, 1986) In the heading for the results of the 13-week bills and 26-week bills printed on the reverse side of the enclosed circular (No. 10107), the issue date should be November 20, 1986, not November 17. Circulars Division FEDERAL RESERVE BANK OF NEW YORK 1097C
@FedFRASER