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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States r Circular No. 5 8 6 1 1 L August 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 District: The following statement was issued by the Treasury Department and released at 6:30 p.m. yesterday: The Treasury Department announced that the tenders fo r $1,000,000,000, or there abouts, o f 365-day Treasury bills to be dated August 31, 1966, and to mature August 31, 1967, which were offered on August 18, 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 . . $2,236,780,000 $1,000,030,000 (includes $33,047,000 entered on a non com petitive basis and accepted in fu ll at the average price shown below) Range of accepted competitive bids (excepting one tender of $5,000,000) : H igh ........................ 94.110 L o w .......................... 94.056 Average 94.075 ................. Equivalent rate o f discount approx. 5.809% per annum Equivalent rate o f discount approx. 5.863% per annum Equivalent rate o f discount approx. 5.844% per annum1 (74 percent of the amount bid fo r 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 ...................................................... i This rate is on a bank discount basis. Total applied for $ Total accepted 38,807,000 1,458,549,000 16,494,000 34,161,000 1,419,000 23,151,000 295,508,000 28,283,000 6,707,000 27,581,000 11,262,000 294,858,000 $ $2,236,780,000 15,807,000 626,749,000 1,494,000 1,861,000 1,419,000 3,151,000 134,708,000 22,183,000 1,207,000 6,331,000 1,262,000 183,858,000 $1,000,030,000 The equivalent coupon issue yield is 6.20 percent. A lfred H ayes, President.
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