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FED ER AL RESERVE BANK O F NEW YORK Fiscal Agent of the United States f Circular No. 6 2 1 9 *1 L September 25, 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 June 30, 1968, and the other series to be dated September 30, 1968, which were offered on September 18, 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 June 3 0 ,1 96 9 High ................. Low .................. Average ............... 365-Day Treasury Bills Maturing September 3 0 ,1 96 9 Price Approx. equiv. annual rate 96.083a 96.046 96.055 5.165% 5.214% 5.202%* Approx. equiv. annual rate Price 94.844 94.809 94.821 5.085% 5.120% 5.108%! a Excepting one tender of $20,000. i These rates are on a bank discount basis. The equivalent coupon issue yields are 5.44 percent for the 273-day bills, and 5.39 percent for the 365-day bills. (76 percent of the amount of 273-day bills bid for at the low price was accepted.) (50 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 June 3 0 ,1 9 6 9 District Applied for Boston.............. $ 11,301,000 New Y o r k ........... 963,427,000 Philadelphia.......... 5,578,000 Cleveland ........... 9,544,000 Richmond ........... 4,919,000 Atlanta ............. 8,433,000 Chicago ............. 166,814,000 St. Louis............ 20,511,000 Minneapolis ......... 16,145,000 Kansas City ......... 5,270,000 Dallas .............. 11,095,000 San Francisco ........ 119,793,000 T o ta l ............ $1,342,830,000 Accepted $ 6,801,000$ 337,427,000 478,000 1,544,000 2,369,000 2,993,000 88,814,000 10,071,000 8,845,000 3,600,000 1,095,000 36,293,000 $500,330,000b 365-Day Treasury Bills Maturing September 3 0 ,1 96 9 Applied for Accepted 21,941,000 $ 1,606,488,000 12,760,000 17,859,000 4,019,000 26,172,000 142,056,000 26,915,000 14,281,000 13,223,000 12,728,000 141,664,000 441000 872,253 000 2,560 000 17,759’000 1 469 000 6 672000 25401 000 11 415 000 2281 000 5 223 000 2728000 51 804 000 $2,040,106,000 $1,000,006,000= b Includes $25,343,000 noncompetitive tenders accepted at the average price of 96.055. c Includes $44,441,000 noncompetitive tenders accepted at the average price of 94.821. A lfred H ayes, President.
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