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FEDERAL RESERVE BANK OF N EW YORK Fiscal A gent o f the United States rCircular No. 5 9 5 0 1 February 23, 1967 J L Results of Treasury’s 9-Month and 12-Month Bill Offerings 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., February 21: The Treasury Department announced that the tenders for two series o f Treasury bills, one series to be an additional issue of the bills dated November 30, 1966, and the other series to be dated February 28, 1967, which were offered on February 15, 1967, were opened at the Federal Reserve Banks today. Tenders were invited fo r $500,000,000, or thereabouts, of 275-day bills and for $900,000,000, or thereabouts, o f 366-day bills. The details of the two series are as fo llo w s : Range of Accepted Competitive Bids 275-Day Treasury Bills M aturing N ovem ber 30,1967 H igh ........................................... L o w ............................................. Average ..................................... 366-Day Treasury Bills Maturing F ebruary 29,1968 Price Approx. equiv. annual rate Price Approx. equiv. annual rate 96.406 96.387 96.396 4.705% 4.730% 4.718% ! 95.234 95.222 95.226 4.688% 4.700% 4 .69 6% 1 i These rates are on a bank discount basis. The equivalent coupon issue yields are 4.92 percent for the 275-day bills, and 4.95 percent for the 366-day bills. (94 percent o f the amount of 275-day bills bid fo r at the low price was accepted.) (72 percent of the amount of 366-day bills bid fo r at the low price was accepted.) Total Tenders Applied for and Accepted (B y Federal Reserve Districts) 275-Day Treasury Bills M aturing N ovem ber 30,1967 District Boston ................................... New Y o r k ............................ Philadelphia ...................... Cleveland ............................ R ichm ond ............................ Atlanta ................................ Chicago ................................ St. L o u i s .............................. Minneapolis ........................ Kansas City ........................ Dallas ................................... San Francisco .................... T o t a l ............................ Applied for $ 10,080,000 983,892,000 5,125,000 20,917,000 6,875,000 9,185,000 181,913,000 4,312,000 4,092,000 1,627,000 11,219,000 67,277,000 $1,306,514,000 366-Day Treasury Bills Maturing F ebruary 29,1968 Accepted Applied for Accepted 5,080,000 418,862,000 1,125,000 20,917,000 1,815,000 2,185,000 27,673,000 1,012,000 2,562,000 1,567,000 1,219,000 16,177,000 $ 40,615,000 1,489,539,000 9,393,000 20,596,000 6,719,000 19,964,000 394,918,000 12,946,000 4,100,000 104,517,000 11,376,000 280,841,000 $ 615,000 639,485,000 1,096,000 3,941,000 719,000 6,664,000 117,414,000 9,340,000 1,453,000 23,517,000 1,376,000 94,721,000 $500,194,000a $2,395,524,000 $900,341,000b $ a Includes $15,064,000 noncompetitive tenders accepted at the average price b Includes $37,004,000 noncompetitive tenders accepted at the average price of 96.396. of 95.226. A lfred H ayes, President.
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