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FED ER AL RESERVE BANK O F NEW YORK Fiscal Agent of the United States r Circular No. 6 2 0 8 1 L August 28, 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: 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 May 31, 1968, and the other series to be dated August 31, 1968, which were offered on August 21, 1968, were opened at the Federal Reserve Banks today. Tenders were invited for $500,000,000, or thereabouts, of 270-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 270-Day Treasury Bills Maturing M ay 31,1969 Price 96.085a 96.056 96.066 High .. Low ... Average 365-Day Treasury Bills Maturing August 3 1 ,1 96 9 Approx. equiv. annual rate Approx. equiv. annual rate Price 94.789 94.763 94.777 5.220% 5.259% 5.245%! 5.140% 5.165% 5.151%i a E xcepting one tender o f $400,000. i These rates are on a bank discount basis. The equivalent coupon issue yields are 5.49 percent fo r the 270-day bills, and 5.44 percent fo r the 365-day bills. (5 percent of the amount of 270-day bills bid for at the low price was accepted.) (49 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) 270-Day Treasury Bills Maturing May 31,1 96 9 District Boston......... New Y o r k ....... Philadelphia..... Cleveland ....... Richmond ....... Atlanta ......... Chicago ......... St. Louis........ Minneapolis ..... Kansas City ..... Dallas ......... San Francisco ... T o t a l .................... Applied for ... $ 89,000 ... 1,261,943,000 ... ... ... ... ... ... ... ... 19.040,000 14,174,000 7,999,000 100,491,000 8,416,000 12,100,000 7,041,000 11,137,000 150,477,000 ... $1,598,416,000 Accepted 365-Day Treasury Bills Maturing August 3 1 ,1 96 9 Applied for Accepted $ 89,000 404,793,000 3,459,000 3,040,000 11,174,000 1,981,000 29,461,000 1,416,000 2,100,000 2,041,000 1,137,000 39,727,000 $ 10,958,000 1,922,427,000 11,438,000 24,729,000 17,652,000 19,808,000 353,360,000 20,875,000 11,740,000 19,265,000 11,783,000 167,741,000 $ $500,418,000b $2,591,776,000 $1,000,147,000c 958,000 752.633.000 1.338.000 2.774.000 5.152.000 2.958.000 183.240.000 3.875.000 1.505.000 5.690.000 1.783.000 38,241,000 b Includes $20,192,000 noncom petitive tenders accepted at the average price o f 96.06R. c Includes $41,372,000 noncom petitive tenders accepted at the average price o f 94.777. A lfred H ayes, President.
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