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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States r Circular No. 5 1 5 0 ' ! L February 9, 1962 J Preliminary Results of Treasury’s Current Exchange Offering To All Banking Institutions, and Others Concerned, in the Second Federal Reserve D istrict: The following statement was made public today by the Treasury Department: Treasury officials indicated today their satisfaction with the results of the exchange offering com pleted on Wednesday, February 7. Preliminary figures show that about $11,283 million, or 96.2 percent of Treasury notes maturing February* 15 and A pril 1, 1962, aggregating $11,731 million, have been exchanged for the two new issues included in the current exchange offering. About $448 million, or 3.8 percent, o f the four maturing issues remain for cash redemption. Of this, $359 million, or 3.2 percent, of the issues maturing February 15 and $89 million, or 16.2 percent, of the April 1 note will be redeemed. Of the maturing securities held outside the Federal Reserve Banks and Government accounts, 94.3 percent o f the February 15 maturities were exchanged and 83.8 percent of the April 1 note. The combined exchange was 93.4 percent of the maturing publicly held issues. A breakdown o f the subscriptions is as follows (in millions) : Exchanged for Maturing notes 3 % % , Series A-1962 .. 4% , Series D-1962 ___ 3^4%, Series F-1962 .. Series EA-1962. T otal ...................... Outstanding $ 3 % % certificates due 2/15/6S 4% notes due 8/15/66 Total exchanged Percentage exchanged 647 1,435 9,098 551 $ 282 453 5,746 370 $ 302 863 3,175 92 $ 584 1,316 8,921 462 90.3 91.7 98.1 83.8 $11,731 $6,851 $4,432 $11,283 96.2 $3,410.7 3,439.9 $1,517.8 2,914.4 $ 4,928.5 6,354.3 $6,850.6 $4,432.2 $11,282.8 Subscribers Federal Reserve Banks and Govt, accounts.. All others .................. T otal .................... F inal figures regarding the exchange will be announced after final reports are received from the Federal Reserve Banks. A lfred H ayes, President.
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