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FEDERAL RESERVE BANK OF NEW YORK Fiscal A gent of the United States r C ircular No. 4 4 0 3 1 L D ecem ber 24, 1956 J RESULTS OF BIDDING FO R TREASURY BILLS DATED DECEM BER 27, 1956 To all Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: A t tlie time of printing our Circular No. 4402, dated December 24, 1956, announc ing an offering of 91-day T reasury bills, to be dated Ja n u a ry 3, 1957, the results of bidding for the previous week’s issue of 91-day T reasu ry bills, to be dated December 27, 1956, and to m ature M arch 28, 1957, were not available. The results, now avail able, a r e : Total applied for . . $2,372,725,000 Total accepted . . . . $1,601,089,000 (includes $269,856,000 entered on a non competitive basis and accepted in full a t the average price shown below) Range of accepted competitive bids: (excepting 3 tenders totaling $500,000) H igh ....................... 99.191 E quivalent ra te of discount approx. 3.200% p er annum Low ....................... 99.184 E quivalent ra te of discount approx. 3.228% p er annum Average ................. 99.187 E quivalent ra te of discount approx. 3.217% per annum (91 percent of the am ount bid for a t the low price was accepted) Federal Reserve District Total Applied fo r Boston .......................................................... New Y o r k ..................................................... P h ila d e lp h ia ................................................. Cleveland ..................................................... Richmond ................................................... A tlan ta .......................................................... Chicago ........................................................ St. Louis ..................................................... Minneapolis ................................................. Kansas City ................................................. Dallas ............................................................ San Francisco ............................................. T o tal .......................................... $ 33,958,000 1,758,784,000 29,801,000 54,979,000 13,169,000 31,720,000 220,393,000 31,070,000 11,419,000 37,808,000 41,634,000 107,990,000 $2,372,725,000 Total Accepted $ 22,083,000 1,153,514,000 13,573,000 41,923,000 12,656,000 28,091,000 143,616,000 28,520,000 11,295,000 30,751,000 29,864,000 85,203,000 $1,601,089,000 A l f r e d H a y e s , President.
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