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F E D E R A L R E S E R V E BA N K O F NEW YORK Fiscal Agent of the United States r Circular No. 5 7 6 6 * 1 L January 26, 1966 J Results of Treasury’s One-Year Bill Offering To All Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve D istrict: The following statement was issued by the Treasury Department and released at 6:30 p.m. yesterday: The Treasury Department announced today that the tenders fo r $1,000,000,000, or thereabouts, o f 365-day Treasury bills to be dated January 31, 1966, and to mature January 31, 1967, which were offered on January 19, were opened at the Federal Reserve Banks today. The details of this issue are as fo llo w s : Total applied fo r Total accepted . . $1,916,612,000 $1,000,691,000 (includes $55,986,000 entered on a non competitive basis and accepted in full at the average price shown below) Range of accepted competitive bids (excepting two tenders totaling $3,200,000) : H igh ........................ 95.250 L o w .......................... 95.225 Average 95.236 ................. Equivalent rate o f discount approx. 4.685% per annum Equivalent rate o f discount approx. 4.710% per annum Equivalent rate o f discount approx. 4.699% per annum1 (93 percent o f the amount bid for at the low price was accepted.) Federal Reserve District Boston .......................................................... New Y o r k ................................................... Philadelphia ............................................... Cleveland ................................................... Richmond ................................................... Atlanta ....................................................... Chicago ........................................................ St. L o u i s ...................................................... Minneapolis ............................................... Kansas City ............................................... Dallas .......................................................... San Francisco ........................................... T o t a l ...................................................... Total applied fo r $ Total accepted 38,535,000 1,323,710,000 11,087,000 50,341,000 7,940,000 28,857,000 320,298,000 23,212,000 6,678,000 5,454,000 17,948,000 82,552,000 $ $1,916,612,000 27,465,000 637,789,000 1,087,000 27,491,000 7,940,000 26,972,000 190,198,000 22,212,000 6,678,000 5,454,000 11,878,000 35,527,000 $1,000,691,000 i This rate is on a bank discount basis. The equivalent coupon issue yield is 4.94 percent. A lfred H ayes, President.
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