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FEDERAL RESERVE BANK OF N EW YORK Fiscal A gent o f the United States Circular No. 5 9 8 7 1 c M ay 25, 1967 J Results of Treasury’s 9-Month and 12-Montli Bill Offerings To All Incorporated Banks 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 tm 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 hills, one series to be an additional issue o f the bills dated February 28, 1967, and the other series to be dated May 31, 1967, which were offered on M ay 17, 1967, were opened at the Federal Reserve Banks today. Tenders were m vited fo r $500,000,000, or thereab<rats, o f 274-day bills and for $900,000,000, or thereabouts, o f 366-day bills. The details o f the two series are as follow s: Range o f A ccepted Com petitive Bids 274-Day Treasury Bills M aturing F ebruary 29,1968 ........................................... Vo w ............................................. Average ..................................... 366-Day Treasury Bills M aturing M ay 31,1968 Price Approx. equiv. annual rate Price Approx. equiv. annual rate 97.028 96.971 96.998 3.905% 3.980% 3.944%* 96.030 95.966 96.001 3.905% 3.968% 3.933%* 1 These rates are on a bank discount basis. 4.12 percent for the 366-day bills. The equivalent coupon issue yields are 4.11 percent for the 274-day bills and J ’ (38 percent of the amount o f 274-day bills bid fo r at the low price was accepted.) (1 percent o f the amount o f 366-day bills bid fo r at the low price was accepted.) Total Tenders A pp lied fo r and A ccepted (B y Federal Reserve Districts) 274-Day Treasury Bills M aturing F ebruary 29,1968 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 City ........................ Dallas ................................... San Francisco ................... T otal •.......................... Applied for $ 10,000 869,526,000 4,877,000 5,510,000 312,000 5,325,000 203,129,000 1,381,000 600,000 3,372,000 11,440,000 27,158,000 $1,132,640,000 366-Day Treasury Bills M aturing M ay 31,1968 Accepted $ 10,000 420,926,000 877,000 5,510,000 312,000 2,325,000 38,129,000 1,381,000 600,000 3,372,000 9,440,000 17,158,000 $500,040,000a Applied for $ Accepted 25,025,000 1,004,830,000 8,702,000 11,313,000 7,134,000 9,846 000 254,339,000 6,148,000 1 226 000 6,252,000 12 253 000 51,424,000 $ $1,398,492,000 5 025 000 702 580000 702 000 11 313 000 7134000 5 846 000 114 339 000 4 1 4 8 000 1 226 000 6 252 000 10253 000 31,424,000 $900,242,000b a Includes $14,583,000 noncompetitive tenders accepted at the average price of 96.998. b Includes $25,008,000 noncompetitive tenders accepted at the average price of 96.001. A lfred H ayes, President.
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