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FEDERAL RESERVE BANK OF N EW YORK Fiscal Agent of the United States r Circular No. 6 1 1 2 * 1 L February 6, 1968 J . RESULTS OF BIDDING FOR 91-DAY AND 182-DAY TREASURY BILLS TO BE ISSUED FEBRUARY 8, 1968 To All Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: At the time of printing our Circular No. 6111, dated February 5, 1968, announcing an offering of 91-day and 182-day Treasury bills, to be issued February 15, 1968, the results of bidding for the previous week’s offering of 91-day and 182-day Treasury bills, to be issued February 8 , 1968, were not available. The results, now available, are: Range of Accepted Competitive Bids 91-Day Treasury Bills Maturing May 9,1968 Price H i g h ........................ ............ Low ........................ ............ Average .................. ............ 98.762a 98.739 98.747 182-Day Treasury Bills Maturing August 8,1968 Approx. equiv. annual rate Approx. equiv. annual rate Price 4.898% 4.989% 4.957%! 97.442b 97.397 97.412 5.060% 5.149% 5.119%a a Excepting one tender of $15,000. b Excepting one tender of $15,000. 1 These rates are on a bank discount basis. The equivalent coupon issue yields are 5.10 percent for the 91-day bills, and 5.34 percent for the 182-day bills. (93 percent of the amount of 91-day bills bid for at the low price was accepted.) (21 percent of the amount of 182-day bills bid for at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve Districts) 91 -Day Treasury Bills Maturing May 9,1968 Accepted Applied for District .................. New Y o r k .............. .................. Philadelphia .......... ................ Cleveland .............. .................. Richmond .............. .................. Atlanta .................. ................ Chicago .................. .................. St. L o u is ................ ................ Minneapolis .......... ................ Kansas City .......... .................. Dallas .................... ................ San Francisco........ ................ T otal ........... ................ $ 27,993,000 1,647,280,000 25,561,000 37,052,000 26,497,000 41,357,000 247,975,000 43,652,000 22,039,000 35,455,000 26,198,000 103,787,000 $2,284,846,000 182-Day Treasury Bills Maturing August 8,1968 $ 17,993,000 990,430,000 18,561,000 37,052,000 22,497,000 32,866,000 206,118,000 23,552,000 15,025,000 34,455,000 19,198,000 82,937,000 $1,500,684,000c Applied for $ Accepted 7,278,000 1,255,552,000 12,257,000 25,831,000 5,516,000 32,628,000 174,978,000 29,655,000 18,658,000 10,728,000 19,880,000 89,973,000 $1,682,934,000 $ 7,278,000 688,902,000 4,257,000 20,831,000 5,516,000 27,628,000 109,978,000 20,055,000 16,158,000 10,728,000 13,880,000 74,968,000 $1,000,179,000d c Includes $234,720,000 noncompetitive tenders accepted at the average price of 98.747. d Includes $115,514,000 noncompetitive tenders accepted at the average price of 97.412. , A lfred H ayes, President.