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FEDERAL RESERVE BANK OF N EW YORK Fiscal Agent of the United States r Circular No. L 6 0 9 4 *1 January 10, 1968 J Results of Treasury's Offer of Additional $2.5 Billion in June Tax Bills To All Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: 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 an additional $2,500,000,000, or thereabouts, of Tax Anticipation Series Treasury bills dated October 9, 1967, maturing June 24, 1968, were opened at the Federal Reserve Banks today. The additional amount of bills, which were offered on January 3, 1968, will be issued January 15, 1968 (161 days to maturity date). The details of this issue are as follows: Total applied for Total accepted .. $6,332,020,000 $2,500,362,000 (Includes $367,380,000 entered on a non competitive basis and accepted in full at the average price shown below) Range of accepted competitive bids: High ...................... 97.788s Low ........................ 97.727 Average .................. 97.738 Equivalent rate of discount approx. 4.946% per annum Equivalent rate of discount approx. 5.082% per annum Equivalent rate of discount approx. 5.058% per annum1 a Excepting one tender of $40,000. (2 percent of the amount bid for at the low price was accepted.) Federal Reserve District Total applied for Total accepted Boston ........................................................ New Y o r k .................................................. Philadelphia .............................................. Cleveland .................................................... Richmond .................................................. Atlanta ...................................................... Chicago ...................................................... St. Louis .................................................... Minneapolis .............................................. Kansas City .............................................. D a lla s.......................................................... San F ran cisco............................................ $ 239,520,000 2,905,082,000 250,915,000 323,717,000 85,655,000 176,675,000 789,348,000 215,207,000 220,670,000 116,409,000 223,380,000 785,442,000 $ 167,020,000 754,502,000 174,915,000 71,567,000 44,255,000 119,175,000 335,490,000 158,907,000 131,660,000 96,109,000 107,380,000 339,382,000 ................................................ $6,332,020,000 $2,500,362,000 T otal l This is on a bank discount basis. The equivalent coupon issue yield is 5.26 percent. A lfred H ayes, President.
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