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FED ER AL RESERVE O F NEW YORK BANK F is c a l A g e n t o f th e U n it e d S ta te s I" Circular No. 6 1 8 2 1 June 26, 1968 j L Results of Treasury’s 9-Month and 12-Month Bill Offerings To All Incorporated Banlrs and Trust Companies, and Others Concerned, in the Second Federal Reserve District: The following statement was issued by the Treasury Department and released at G: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 March 31, 1968, and the other series to be dated June 30, 1968, which were offered on June 19, 1968, were opened at the Federal Reserve Banks today. Tenders were invited for $500,000,000, or thereabouts, of 273-day bills and for $1,000,000,000, or thereabouts, of 365-day bills. The details of the two series are as follows: Range of Accepted Competitive Bids 273-Day Treasury Bills Maturing March 3 1 ,1 96 9 High ................. Low .................. Average ............... 365-Day Treasury Bills Maturing June 30,1969 Price Approx. equiv. annual rate 95.678 95.624 95.643 5.699% 5.771% S.745%1 Approx. equiv. annual rate Price 94.206a 94.172 94.189 5.715% 5.748% 5.731%! aExcepting one tender of $600,000. iThese rates are on a bank discount basis. The equivalent coupon issue yields are 6.03 percent for the 273-day bills, and 6.08 percent for the 365-day bills. (94 percent of the amount of 273-day bills bid for at the low price was accepted.) (90 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 March 3 1 ,1 96 9 District Boston.............. $ New Y o r k ........... Philadelphia.......... Cleveland ........... Richmond ........... Atlanta ............. Chicago ............. St. Louis............ Minneapolis .......... Kansas City .......... Dallas .............. San Francisco ........ Applied for Accepted 151,000$ 151,000 868,173,000370,993,000 4,682,000 1,682,000 3,565,000 565,000 665,000 665,000 11,557,000 757,000 128,133,000 48,133,000 13,792,000 7,792,000 8,225,000 3,165,000 3,874,000 2,614,000 11,300,000 5,300,000 145,811,000 58,211,000 365-I)ay Treasury Bills Maturing June 30,1969 Applied for Accepted $ 10,169,000 $ 1,664,419,000 11,770,000 34,234,000 1,531,000 17,926,000 221,351,000 19,676,000 12,652,000 6,871,000 11,532,000 191,366,000 T o t a l ........... $1,199,928,000 $500,028,000b $2,203,497,000 b Includes $15,505,000 noncompetitive tenders accepted at the average price of 95.643. c Includes $38,909,000 noncompetitive tenders accepted at the average price of 94.189. A lfred 169 000 793,784,000 3,770.000 4,034,000 1,531,000 2,826,000 82,306,000 6,576,000 1,652 000 3 976 000 1,532’ ,000 97^866,000 "$1,000^022,000= H ayes, President.
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