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FED ER AL RESERVE BANK O F NEW YORK Fiscal Agent of the United States f Circular No. 6 1 7 2 ~1 L M ay 24, 1968 J Results of Treasury’s 9-Month and 12-Month Bill Offerings To All Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: T h e fo llo w in g statem ent w as issu ed b y the T re a su ry D ep a rtm en t and released at 6 :3 0 p.m ., y esterd a y : The Treasury Department announced that the tenders for two series of Treasury bills, one series to be an additional issue of the bills dated February 29, 1968, and the other series to be dated May 31, 1968, which were offered on May 16, 1968, were opened at the Federal Reserve Banks today. Tenders were invited for $500,000,000, or thereabouts, o f 273-day bills and for $1,000,000,000, or thereabouts, of 365-day bills. The details of the two series are as follow s: Range of Accepted Competitive Bids 273-Day Treasury Bills Maturing February 28,196.9 High ........................................ Low .......................................... Average .................................. 365-Day Treasury Bills Maturing May 31,1969 Price Approx. equiv. annual rate Price Approx. equiv. annual rate 95.420 95.353 95.385 6.040% 6.128% 6.086%! 93.881 93.805 93.837 6.035% 6.110% 6.079%! i These rates are on a bank discount basis. The equivalent coupon issue yields are 6.40 percent fo r the 273-day bills, and 6.46 percent fo r the 365-day bills. (33 percent of the amount of 273-day bills bid for at the low price was accepted.) (33 percent of the amount of 365-day bills bid for at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve Districts) 273-Day Treasury Bills Maturing February 28,1969 District Applied for Boston ............................ $ None 759,737,000 New Y o r k .......................... P hiladelphia...................... 8,750,000 Cleveland ...................... 8,781,000 Richmond .......................... 2,711,000 Atlanta .......................... 11,271,000 Chicago ...................... 231,524,000 St Louis” .................. 20,191,000 Minneapolis ...................... 5,440,000 Kansas City ...................... 1,022,000 Dallas .......................... 6,467,000 San Francisco .................. 83,920,000 To ta l .......................... $1,139,814,000 365-Day Treasury Bills Maturing May 31,1969 Accepted Applied for $ 366,037,000 5,750,000 6,781,000 2,711,000 8,271,000 54,524,000 20,191,000 5,440,000 972,000 1,467,000 27,920,000 $500,064,000* None$ Accepted 11,228,000 1,268,770,000 15,493,000 26,242,000 4,082,000 11,645,000 291,607,000 19,894,000 5,543,000 1,553,000 6,473,000 197,079,000 $1,859,609,000 $ 10,558,000 805,410,000 8,823,000 26,242,000 4,082,000 6,645,000 73,507,000 18,559,000 4,873,000 1,553,000 1,473,000 38,719,000 $1,000,444,000b a Includes $13,613,000 noncompetitive tenders accepted at the average price of 95.385. b Includes $26,755,000 noncompetitive tenders accepted at the average price of 93.837. A lfred H ayes, President.
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