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FEDERAL RESERVE BANK OF N EW YORK Fiscal A gent o f the United States rC ircu la r N o. 5 9 7 4 1 I April 26, 1967 J Results of Treasury’s 9-Month and 12-Month Bill Offerings To All Incorporated BanTcs and Trust Companies, and Others Concerned, in the Second Federal Reserve D istrict: T h e f o ll o w in g s ta te m e n t w a s is s u e d b y th e T r e a s u r y D e p a r t m e n t a n d r e le a s e d a t 6 :30 p .m ., y esterd a y : The Treasury Department announced that the tenders fo r two series o f Treasury bills, one series to be an additional issue o f the bills dated January 31, 1967, and the other series to be dated A p ril 30, 1967. which were offered on A p ril 19, 1967, were opened at the Federal Reserve Banks today. Tenders were invited fo r $500,000,000, or thereabouts, of 275-day bills and fo r $900,000,000, or thereabouts, o f 366-day bills. The details o f the two series are as follo w s: Range o f A ccepted Com petitive Bids 275-Day Treasury Bills Maturing January 31,1968 366-Day Treasury Bills M aturing A p ril 30,1968 Price H igh ........................................... L o w ............................................. Average ..................................... Approx. equiv. annual rate Price Approx. equiv. annual rate 97.089 97.044 97.065 3.811% 3.870% 3.842% ! 96.122a 96.066 96.104 3.814% 3.870% 3.832% ! a Excepting three tenders totaling $1,359,000. i These rates are on a bank discount basis. The equivalent coupon issue yields are 4.00 percent for the 275-dav bills and 4.01 percent for the 366-day bills. (75 percent o f the amount o f 275-day bills bid fo r at the low price was accepted.) (16 percent o f the amount o f 366-day bills bid for at the low price was accepted.) Total Tenders A pp lied for and A ccepted (B y Federal Reserve Districts) 275-Day Treasury Bills Maturing J anuary 31,1968 District B o s t o n .................................. New Y o r k ............................ P h ila d e lp h ia ........................ Cleveland ............................ R ic h m o n d ............................ Atlanta ................................ C h ic a g o ................................ St. L o u i s .............................. Minneapolis ........................ Kansas C ity ........................ Dallas ................................... San Francisco ................... T o t a l ............................ Applied for $ 200,000 946,952,000 5,045,000 655,000 1,559,000 7,116,000 227,783,000 2,940,000 8,950,000 1,275,000 11,100,000 51,635,000 $1,265,210,000 366-Day Treasury Bills Maturing A p ril 30,1968 Accepted $ 200,000 410,202,000 4,045,000 655,000 1,559,000 5,116,000 29,283,000 940,000 8,325,000 1,275,000 7,100,000 31,385,000 $500,085,000b Applied fo r $ Accepted 36,328,000 1,102,996,000 10,712,000 13,705,000 5,827,000 8,367,000 267,603,000 8,085,000 3,332,000 4,367,000 11,375,000 62,427,000 $ 27 488 000 659’l l 6 ’ 000 3512000 13 705 000 5 827000 8 367 000 1 20243000 6 085 000 3 332 000 4 3 6 7 ’ 000 8 37 50 00 39,587 000 $1,535,124,000 $900,004,000c b Includes $14,924,000 noncompetitive tenders accepted at the average price of 97.065. c Includes $32,688,000 noncompetitive tenders accepted at the average price of 96.104. A lfred H ayes, President.