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FEDERAL RESERVE BANK OF N EW YORK Fiscal Agent of the United States rCircular No. 6026~1 U August 25, 1967 J Results of Treasury’s 9-Month and 12-Month Bill Offerings To All Incorporated Panics 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., yesterday: 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 M ay 31, 1967, and the other series to be dated A ugust 31, 1967, which were offered on A ugust 17, 1967, were opened at the Federal Reserve Banks today. Tenders were invited fo r $500,000,000, or thereabouts, o f 274-day bills and fo r $1,000,000,000, or thereabouts, o f 366-day bills. The details o f the two series are as fo llo w s : Range of Accepted Competitive Bids 274-Day Treasury Bills M aturing M ay 31,1968 366-Day Treasury Bills M aturing A u gu st 31,1968 Approx. equiv. Price H igh ......................................... L o w ............................................. A verage ..................................... 96.164 96.099 96.120 annual rate Approx. equiv. annual rate Price 5.040% 5.125% S.098%1 94.881a 94.774 94.815 5.035% 5.140% S.100%1 a Excepting one tender of #100,000. 1 These rates are on a bank discount basis. The equivalent coupon issue yields are 5.34 percent for the 274-day bills, and 5.40 percent for the 366-day bills. (80 percent o f the amount o f 274-day bills bid fo r at the low price was accepted.) (39 percent o f the amount o f 366-day bills bid fo r at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve Districts) 274-Day Treasury Bills Maturing M ay 31,1968 District Boston .................................. New Y o r k ............................ Philadelphia ..................... Cleveland ............................ Richm ond ............................ A tlanta ................................ Chicago ................................ St. L o u i s .............................. Minneapolis ........................ Kansas C i t y ........................ Dallas .................................. San Francisco ................... T o t a l ................................ Accepted Applied for $ 1,600,000 961,861,000 14,775,000 1,321,000 6,642,000 11,705,000 172,797,000 17,843,000 6,817,000 2,714,000 11,112,000 87,488,000 $1,296,675,000 366-Day Treasury Bills Maturing A ugust 31,1968 $ 600,000 389,361,000 775,000 1,321,000 4,642,000 2,305,000 54,178,000 1,743,000 4,217,000 2,714,000 1,112,000 37,088,000 $500,056,000b Applied for $ Accepted 51,390,000 1,352,577,000 9,998,000 65,316,000 7,914,000 16,492,000 162,449,000 22,709,000 8,336,000 4,998,000 12,834,000 185,812,000 $ $1,900,825,000 14,290,000 754.277.000 1.998.000 2.316.000 6.914.000 3.170.000 66,449,000 4.616.000 5.336.000 4.998.000 3.834.000 131.882.000 $1,000,080,000c b Includes $20,174,000 noncompetitive tenders accepted at the average price of 96.120. c Includes $42,194,000 noncompetitive tenders accepted at the average price of 94.815. A lfred H ayes, President.
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