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FED ER AL RESERVE BANK OF NEW YORK Fiscal Agent of the United States r Circular No. 6 2 4 IT u November 6, 1968 J RESULTS OF BIDDING FOR 91-DAY AND 182-DAY TREASURY BILLS TO BE ISSUED NOVEMBER 7, 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. 6240, dated November 4, 1968, announcing an offering of 91-day and 182-day Treasury bills, to be issued November 14, 1968, the results of bidding for the previous week’s offering of 91-day and 182-day Treasury bills, to be issued November 7, 1968, were not available. The results, now available, are: Range of Accepted Competitive Bids High .......................... ................ Low .......................... ................ Average .................... ................ 91-Day Treasury Bills 182-Day Treasury Bills Maturing February 6, 1969 Maturing M ay 8, 1969 Price Approx. equiv. annual rate Price 98.617 98.588 98.596 5.471% 5.586% S.554%1 97.184a 97.154 97.161 Approx. equiv. annual rate 5.570% 5.629% 5.616%a a Excepting one tender of $70,000. 1 These rates are on a bank discount basis. The equivalent coupon issue yields are 5.71 percent for the 91-day bills, and 5.86 percent for the 182-day bills. (65 percent of the amount of 91-day bills bid for at the low price was accepted.) (73 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) District 91-Day Treasury Bills 182-Day Treasury Bills Maturing February 6, 1969 Maturing M ay 8, 1969 Applied for Boston .................................... New York .............................. Philadelphia............................ Cleveland ................................ Richmond .............................. Atlanta .................................... Chicago .................................. St. Louis ................................ Minneapolis ............................ Kansas C ity ............................ Dallas ...................................... San Francisco........................ T o t a l ...................... $ Accepted 23,765,000$ 23,765,000 1,800,637,0001,131,887,000 36,528,000 21,528,000 38,817,000 38,817,000 18,839,000 18,839,000 31,506,000 29,006,000 182,029,000 156,229,000 40,370,000 34,020,000 22,391,000 20,391,000 23,867,000 23,867,000 29,373,000 24,023,000 135,002,000 77,652,000 $2,383,124,000 $1,600,024,000b Applied for Accepted $ 12,321,000 $ 1,623,747,000 17,810,000 57,924,000 4,231,000 20,341,000 125,397,000 21,150,000 16,967,000 13,716,000 19,626,000 111,822,000 $2,045,052,000 12,321,000 829,867,000 7,733 000 49,654,000 3,987,000 16,341000 75,397 000 15,815^000 11,467 000 13,316!000 12,626 000 52,531,000 $1,101,055 £00° Includes $298,963,000 noncompetitive tenders accepted at the average price of 98.596. cIncludes $128,432,000 noncompetitive tenders accepted at the average price of 97.161. A lfred H ayes , President.