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F E D E R A L R E S E R V E BAN K
O F NEW YORK
Fiscal Agent of the United States
r Circular No. 5 9 0 1 1
L November 18, 1966 J

Results of Offering of $1.2 Billion Strip of Treasury Bills
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 for additional amounts of three
series of Treasury bills to an aggregate amount of $1,200,000,000, or thereabouts, to be
issued November 25, 1966, which were offered on November 10, were opened at the Federal
Reserve Banks today. The amount o f accepted tenders will be equally divided among the
three issues of outstanding Treasury bills maturing March 31, A p ril 30, and May 31, 1967.
The details of the offering are as follow s:
Total applied fo r
Total accepted . .

$2,984,667,000
$1,200,246,000

(includes $119,058,000 entered on a nonĀ­
competitive basis and accepted in fu ll
at the average price shown below)

Range of accepted competitive bids:
Approximate equivalent annual rate of
discount based on 156.3 days (average
number of days to maturity)

Price

H i g h ............................ ...............
Low ............................ ...............
Average ................... ...............

97.731a
97.679
97.691

5.226%
5.346%
S.318% 1

a Excepting 5 tenders totaling $225,000.
1 This rate is on a bank discount basis. The equivalent coupon issue yield is 5.52 percent.

(58 percent of the amount bid fo r at the low price was accepted.)
Total Tenders A pp lied for and A ccepted (B y Federal Reserve Districts)
District

Boston ......................................................
New Y o r k ...............................................
Philadelphia .........................................
Cleveland ...............................................
Richmond ...............................................
Atlanta ...................................................
Chicago .................................................
St. L o u i s .................................................
Minneapolis ...........................................
Kansas C i t y ...........................................
Dallas .....................................................
San Francisco .......................................




T o t a l ...........................................

Applied for

Accepted

$ 102,129,000
1,361,943,000
126,114,000
99,726,000
28,761,000
114,504,000
384,108,000
108,699,000
134,049,000
75,933,000
100,797,000
347,904,000

$

$2,984,667,000

$1,200,246,000
A

lfred

3,129,000
800,214,000
48,054,000
4,914,000
10,665,000
55,038,000
82,146,000
19,629,000
55,818,000
52,263,000
15,072,000
53,304,000

H

ayes,

President.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102