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FEDERAL RESERVE BANK OF N EW YORK Fiscal Agent of the United States f Circular N o. 6 0 0 0 1 July 6, 1967 J L Results of Treasury’s Offering of $4 Billion Tax Anticipation Bills To All Incorporated Banls and Trust Companies, and Others Concerned, in the Second Federal Eeserve District: The follow ing statem ent was issued by the T reasu ry D epartm ent and released at 6 :3 0 p.m., y e s te r d a y : The Treasury Department announced that the tenders for two series of Treasury tax anticipation bills, both series to be dated July 11, 1967, which were offered on June 28, 1967, were opened at the Federal Reserve Banks today. Tenders were invited for $2,000,000,000, or thereabouts, of 255-day bills and for $2,000,000,000, or thereabouts, of 286-day bills. The details of the two series are as follows: Range of Accepted Competitive Bids 255-Day Tax Anticipation Bills Maturing March 22,1968 High ........................................... Low ............................................. Average ..................................... Price Approx. equiv. annual rate 96.607a 96.522 96.557 4.790% 4.910% 4.861% 1 286-Day Tax Anticipation Bills Maturing April 22,1968 Approx. equiv. annual rate Price 96.171b 96.065 96.108 4.820% 4.953% 4.899% ! a Excepting one tender of $500,000. b Excepting five tenders totaling $3,500,000. 1 These rates are on a bank discount basis. The equivalent coupon issue yields are 5.08 percent for the 255-day bills, and 5.13 percent for the 286-day bills. (25 percent of the amount of 255-day bills bid for at the low price was accepted.) (80 percent of the amount of 286-day bills bid for at the low price was accepted.) iotal Tenders Applied for and Accepted (By Federal Reserve Districts) District 255-Day Tax Anticipation Bills Maturing March 22,1968 286-Day Tax Anticipation Bills Maturing April 22,1968 Applied for Applied for Accepted Boston .................................. $ 130,400,000 New Y o r k ............................ 1,337,726,000 Philadelphia........................ 129,390,000 Cleveland ............................ 235,465,000 Richmond ............................ 54,235,000 Atlanta ................................ 124,975,000 Chicago ................................ 384,750,000 St. L o u is .............................. 80,155,000 Minneapolis ........................ 114,030,000 Kansas City ........................ 73,627,000 Dallas .................................. 75,830,000 San Francisco .................... 508,690,000 T o t a l ............................ $3,249,273,000 $ 63,050,000$ 179,700,000 548,251,000 1,321,941,000 89,390,000 94,960,000 167,215,000 193,830,000 26,535,000 44,935,000 112,450,000 57,141,000 284,500,000 339,145,000 66,255,000 92,047,000 100,530,000 99,125,000 53,277,000 54,813,000 64,330,000 70,405,000 424,565,000 478,450,000 $2,000,348,000c $3,026,492,000 Accepted $ 105,100,000 600,441,000 74,960,000 157,830,000 27,235,000 49,741,000 309,645,000 60,597 000 87,625,000 43,513,000 58,905,000 424,450.000 $2,000,042,000d Includes $268,773,000 noncompetitive tenders accepted at the average price o f 96.557. d Includes $224,492,000 noncompetitive tenders accepted at the average price o f 96.108. c A lfr ed H a y e s , President.
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