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FE D E RA L R E SE R V E BANK
OF NEW YORK
Fiscal Agent of the United States

J"Circular No. 4 5 5

L January 14, 1958

Basis o f Allotment o f FNMA Notes

To A ll Banking In stitution s, and Others Concerned,
in the Second Federal R eserve D istrict:

The following statement was made public today:
The Treasury announced last evening a 15 percent allotment on sub­
scriptions for more than $10,000 for the current cash offering of 3% percent
Federal National Mortgage Association Notes o f Series ML-1960-A. None
o f these subscriptions will be allotted less than $ 10,000 and subscriptions
for $ 10,000 and less will be allotted in full.
Reports received from the Federal Reserve Banks show that subscrip­
tions total about $5,215 million.
Details by Federal Reserve Districts as to subscriptions and allotments
will be announced when final reports are received from the Federal
Reserve Banks.




A

lfred

H

ayes,

President.