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F E D E R A L R E S E R V E BANK O F N EW YORK F iscal A g e n t o f the U n ited States rCircularNo. 5 6 5 2 " 1 May 7, 1965 J L Preliminary Results of Treasury’s Current Exchange Offering To A ll 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 $7,956 million, or 94.3 percent, of Treasury notes maturing May 15, 1965, aggregating $8,436 million, were exchanged for the two issues included in the current exchange offering. The total exchanged for the 4 percent notes was $5,898 million (including $4,253 million for official accounts) and for the 4% percent bonds $2,058 million (including $65 million for official accounts). Of the maturing notes held outside the Federal Reserve Banks and Government accounts, 11.6 percent were not exchanged. Details of the exchange are as follows (in millions) : Exchanged for Eligible for exchange Security Am ount 4 % N otes due 8 /1 5 /6 6 41 /4;% Bonds due 5 /1 5 / y 4 Total Unexchanged amount 4 % % Notes ..................... 3% % Notes ..................... $1,816 6,620 $ 793 5,105 $ 737 1,321 $1,530 6,426 $286 194 T o t a l ................................ $8,436 $5,898 $2,058 $7,956 $480 Federal Reserve Banks and Govt, accounts . . . $4,253 $ 65 $4,318 A ll others ......................... 1,645 1,993 3,638 T o t a l ......................... $5,898 $2,058 $7,956 Subscribers Fin a l figures regarding the exchange will be announced after final reports are received from the Federal Reserve Banks. A lfred H a y e s , President.
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