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FE D E R A L R E SE R V E BANK OF NEW YORK Fiscal A gen t o f the U nited States r Circular N o. 4 3 1 8 1 M arch 9, 1956 J L TREASURY’S CURRENT EXCHANGE OFFERINGS Preliminary Figures on Exchanges of Maturing Issues T o A ll Banking In stitution s, and Others Concerned, in the Second Federal B eserve D istrict: The follow in g statement was made public tod a y: Preliminary figures show that over $9.3 billion of the Treasury notes maturing March 15 and A pril 1 have been exchanged for the new 2% percent certificates of indebtedness maturing February 15, 1957, and the 2% percent Treasury notes maturing June 15, 1958. About $7*4 billion were exchanged for the 2 % percent certificate and about $2.1 billion for the 2% percent note. Only about $150 million remain for cash redemption. Further details regarding the exchange will be announced next week after final reports are received. A llan S proul, P resident.