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FEDERAL RESERVE BANK OF NEW YORK r C ir c u la r N o . 4 9 7 0 1 L D e c e m b e r 2, 1960 J FEDERAL FARM LOAN BONDS — Redemption of December 20 Maturity —Offering of New Bonds To All Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: A t the request of the twelve Federal Land Banks, transmitted to us by the Treasury Department, we bring to your attention the following notice: C onsolidated Federal farm loan 5.40 percent bonds dated February 1, 1960, o f w hich there are $150 m illion outstanding, will mature on D ecem ber 20, 1960. These bonds m ay be redeem ed through the Federal R eserve Banks and B ranches o r the Treasurer o f the U nited States, W ash in gton , D . C. Funds for the redem ption o f the m aturing bonds and for other requirem ents will be provided b y the Federal Land Banks through a p u blic offerin g o f consolidated Federal farm loan bonds fo r delivery D ecem ber 20, 1960. T h e new bon d s w ill be offered fo r cash, no preference b ein g given holders o f the m aturing issue. T h e offerin g will com prise $91 m illion percent bonds due February 20, 1962, and $90 m illion 4 percent bonds due O ctob er 20, 1964, both issues to be dated D ecem ber 20, 1960. T h e bonds w ill be offered b y the banks’ Fiscal A gen t, John T . K n ox, 130 W illiam Street, N ew Y o rk 38, N. Y ., through an organized dealer grou p, at prices to be announced on or about D ecem ber 7. Additional copies of this circular will be furnished upon request. A lfred H ayes, President.
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