Full text of Federal Reserve Bank of New York Circulars : 4086. Results of Bidding for 94-Day Treasury Bills, Dated March 22, 1954, Tax Anticipation Series

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F E D E R A L R E S E R V E BANK
O F NEW YORK
Fiscal Agent of the United States
Circular
08
17,
C MarchNo. 41954 6 1J

Results of Bidding for 94-Day Treasury Bills, Dated March 22, 1954
Tax Anticipation Series

To all Incorporated Banks and Trust Companies, and
O thers Concerned, in the Second Federal R eserve D istrict:

The Treasury Department announced that the tenders for $1,500,000,000,
or thereabouts, of Tax Anticipation Series 94-day Treasury bills to be dated
March 22 and to mature June 24, 1954, which were offered on March 10, were opened
at the Federal Reserve Banks on March 16.
The details of this issue are as follows:
Total applied for . . $2,716,773,000
Total a ccepted----- $1,501,159,000

Average p r ic e ............

99.750+

(Includes $155,864,000 entered on a non­
competitive basis and accepted in full
at the average price shown below)
Equivalent rate of discount approx.
0.956% per annum

Range of accepted competitive bids:
High ......................

99.775

Equivalent rate of discount approx.
0.862% per annum

L o w ........................

99.747

Equivalent rate of discount approx.
0.969% per annum

(88 percent of the amount bid for at the low price was accepted)
Federal R eserv e
D istrict

Boston ..............................................
New Y o r k ........................................
Philadelphia......................................
Cleveland..........................................
Richm ond..........................................
A tlanta..............................................
Chicago ............................................
St. Louis ..........................................
Minneapolis......................................
Kansas C it y ......................................
D a lla s................................................
San F ran cisco..................................




T o t a l............................

Total
A pplied fo r

$

35,335,000
1,944,697,000
65,209,000
54,520,000
10,303,000
40,485,000
313,100,000
25,400,000
19,858,000
33,591,000
33,164,000
141,111,000

$2,716,773,000

Total
A ccepted

$

27,824,000
971,576,000
36,321,000
46,152,000
8,303,000
32,909,000
200,515,000
16,300,000
17,528,000
25,106,000
18,354,000
100,271,000

$1,501,159,000
A

llan

S proul,

President.