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FEDERAL RESERVE BANK OF N EW YORK Fiscal Agent of the United States [ Circular No. 6 0 5 0 1 October 25, 1967 J Results of Treasury’s 9-Month and 12-Month Bill Offerings To A ll Incorporated Banks and Trust Companies , and Others Concerned, in the Second Federal R eserve 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 for two series of Treasury bills, one series to be an additional issue of the bills dated July 31, 1967, and the other series to be dated October 31, 1967, which were offered on October 18, 1967, were opened at the Federal Reserve Banks today. Tenders were invited for $500,000,000, or thereabouts, of 274-day bills and for $1,000,000,000, or thereabouts, of 366-day bills. The details of the two series are as follows: Range of Accepted Competitive Bids 274-Day Treasury Bills Maturing July 31,1968 Price High ................ Low ................. Average ............... 95.982a 95.944 95.956 a Excepting one tender of $3,000,000. 866-Day Treasury Bills Maturing October 31, 1968 A p p rox. equiv. annual rate 5.279% 5.329% S.313%1 A p p rox . equiv. annual rate Price 94.637b 94.592 94.610 5.275% 5.319% 5.302%x b Excepting one tender of $238,000. 1 These rates are on a bank discount basis. The equivalent coupon issue yields are 5.58 percent for the 274-dav bills, and 5.62 percent for the 366-day bills. (100 percent of the amount of 274-day bills bid for at the low price was accepted.) (31 percent of the amount of 366-day bills bid for at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve Districts) 274-Day Treasury Bills Maturing July 31,1968 District Applied for Accepted 366-Day Treasury Bills Maturing October 31,1968 Applied for Accepted Boston ............. $ 12,330,000 $ 6,330,000$ 42,275,000 964,192,000 398,192,000 1,488,845,000 New York ........... Philadelphia ......... 4,761,000 761,000 10,418,000 Cleveland ............ 12,772,000 2,772,000 54,062,000 Richmond ........... 9,773,000 1,773,000 12,777,000 Atlanta............. 8,650,000 3,650,000 11,789,000 Chicago ............ 103,406,000 22,156,000 210,981,000 St. Louis ............ 16,397,000 6,197,000 23,136,000 Minneapolis.......... 12,700,000 3,700,000 13,428,000 Kansas City.......... 1,557,000 1,557,000 3,333,000 Dallas .............. 10,806,000 2,806,000 11,707,000 San Francisco........ 124,635,000 50,635,000 190,443,000 T o ta l .......... $1,281,979,000 $500,529,000° $ $2,073,194,000 22,275 000 757,145000 2 418 000 4,062000 1 777000 2 789 000 109 291 000 6886000 3428000 3 333 000 1 707 000 86^214*000 $1,001,325,ooo<* c Includes $14,968,000 noncompetitive tenders accepted at the average price of 95.956. d Includes $39,337,000 noncompetitive tenders accepted at the average price of 94.610. A lfred H ayes, President.
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