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FEDERAL R ESERVE BANK OF N EW YORK Fiscal Agent of the United States j" Circular No. 6 2 5 0 ' ] November 25, 1968 J Results of Treasury’s 9-Month and 12-Month Bill Offerings To All Incorporated Banlcs 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. November 22: The Treasury Department announced that the tenders for two series of Treasury bills, one series to be an additional issue of the bills dated August 31, 1968, and the other series to be dated November 30, 1968, which were offered on November 18, 1968, were opened at the Federal Reserve Banks today. Tenders were invited for $500,000,000, or thereabouts, of 272-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 272-Day Treasury Bills Maturing August 31,1969 Price High ........................................ Low .......................................... Average .................................. 95.716 95.685 95.699 365-Day Treasury Bills Maturing November 30,1969 Approx. equiv. annual rate Price 5.670% 5.711% 5.693%1 94.370 94.328 94.355 Approx. equiv. annual rate 5.553% 5.594% 5.568%1 i These rates are on a bank discount basis. The equivalent coupon issue yields are 5.97 percent fo r the 272-day bills, and 5.90 percent fo r the 365-day bills. (20 percent of the amount of 272-day bills bid for at the low price was accepted.) (12 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) 272-Day Treasury Bills Maturing August 31,1969 Applied for District .... $ ___ Minneapolis .............. Kansas C i t y .............. Dallas ........................ San Francisco .......... T o tal ........................ 3,046,000 988,302,000 12.464,000 14,985,000 3,562.000 18,019,000 81,552.000 6,795,000 12,455,000 4.160.000 11,482.000 180,411,000 . . . . $1,337,233,000 365-Day Treasury Bills Maturing November 30,1969 Accepted Applied for $ 3,046,000 398,302,000 1,464,000 2,785,000 1,062,000 4,719,000 21,052.000 4,295,000 5,455,000 2,660,000 1,482,000 53,711,000 $ $500,033,000* $1,971,804,000 Accepted 18,497,000 1,443,443,000 12,462,000 28,793,000 4,372,000 15,515,000 174,945,000 16,856,000 12,951,000 10,100,000 31,802,000 202,068,000 $ 2,076,000 825,002,000 2,462,000 3,691,000 1,872,000 3,630,000 82,145,000 6,416,000 951,000 6,600,000 1,802,000 63,368,000 $1,000,015,000b a Includes $21,166,000 noncom petitive tenders accepted at the average price o f 95.699. b Includes $46,747,000 noncom petitive tenders accepted at the average price o f 94.355. A lfred H ayes, President.
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