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F E D E R A L R E S E R V E BANK O F N EW Y O R K Fiscal Agent of the United States r Circular No. 5 2 5 1 "1 L November 2, 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: Preliminary figures show that about $10,412 million, or 94.8 percent, of Treasury notes maturing November 15, 1962, and Treasury bonds maturing or called for redemption December 15, 1962, aggre gating $10,980 million, have been exchanged for the three new issues included in the current exchange offering. About $568 million, or 5.2 percent, of the four issues eligible for exchange remain for cash redemption. Of the maturing or called securities held outside the Federal Reserve Banks and Government accounts, 7.7 percent were not exchanged. The unexchanged part of the notes maturing November 15 amounted to 5.9 percent of the public holdings. The unexchanged part of the bonds maturing or called December 15 amounted to 9.7 percent of those publicly held. A breakdown of the subscriptions is as follows (in millions) : Exchanged for Nov. 15,1963 3Vh% Ctf s. Nov. 15,1965 s y 2% Notes Feb. 15,1972 4% Bonds Exchanged Total outstanding $ 124 4,037 $ 473 1,276 $ 442 637 $ 1,039 5,950 $ 1,143 6,082 $104 132 % Bonds ................ 2 % % Bonds ................ 563 121 808 707 655 569 2,026 1,397 2,269 1,486 243 89 T o t a l ......................... $4,845 $3,264 $2,303 $10,412 $10,980 $568 Federal Reserve Banks and Govt, Accounts.. All others .................... $3,796 1,049 $ 1 3,263 $ 6 2,297 $ 3,803 6,609 T o t a l ......................... $4,845 $3,264 $2,303 $10,412 Issues eligible for exchange Nov. 15 3 % % N o te s .................. 3*4% N o te s .................. Dec. 15 21/ 4 Unexchang Subscribers Final 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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