Full text of Federal Reserve Bank of New York Circulars : 4824. Preliminary Figures on Current Exchange of Series F and G Bonds for 4 3/4 Percent Treasury Notes of Series A-1964

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FE D E R A L R E S E R V E BANK
O F N EW YORK
F is ca l A g e n t o f th e U n ite d S tates
r Circular N o. 4 8 2 4 1
U Decem ber 10, 1959 J

Preliminary Figures on Current Exchange o f Series F and G Bonds
for 4 % Percent Treasury Notes o f Series A-1964

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

The follow in g statement was made public today by the T reasury D epartm en t:
The Treasury announced today that 011 the basis o f prelim inary reports holders of
$716 million o f the $1,600 m illion o f outstanding Series F and G bonds m aturing in 1960
have exchanged their bonds for the 4 % percent Treasury notes, dated J u ly 20, 1959, matur­
ing M ay 15, 1964. The bonds exchanged include $124 m illion o f Series F and $592 million
o f Series G.
The 4 % percent notes constitute an additional amount to the $4,184 m illion o f such
notes (including $2,678 m illion held b y Federal Reserve Banks and Treasury Investment
A ccounts) now outstanding. The notes were offered to holders o f Series F and G bonds
m aturing in 1960 at a price o f 9 9% percent, with certain interest and other adjustments
as o f December 15, 1959. The subscription books fo r exchanges were open during the period
from November 23 to November 30, 1959, inclusive.
In addition to the F and G bonds which have been turned in fo r exchange, the Federal
Reserve Banks and the Treasury Departm ent have received letters o f intent to exchange
from holders o f approxim ately $20 m illion o f the F and G bonds. These holders, who fo r
various reasons were unable to complete their subscriptions by November 30, were given an
extension until December 10, 1959, to complete their subscriptions and to submit the bonds
to be exchanged.
A final report o f exchanges by Federal Reserve Districts w ill be made when all final
reports are received from the Federal Reserve Banks.




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President.