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FEDERAL R ESERVE BANK OF N EW YORK Fiscal Agent of the United States r Circular No. 6 2 5 2 1 U November 27, 1968 J Results of Treasury’s Offer of Additional $2 Billion in June Tax Bills 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 an additional $2,000,000,000, or thereabouts, of Tax Anticipation Series Treasury bills dated October 24, 1968, maturing June 23, 1969, were opened at the Federal Reserve Banks today. The additional amount of bills, which were offered on November 19, 1968, will be issued December 2, 1968 (203 days to maturity date). The details o f this issue are as follow s: Total applied for Total accepted .. $4,370,993,000 $2,000,403,000 (Includes $356,153,000 entered on a non competitive basis and accepted in full at the average price shown below) Range of accepted competitive bids: H i g h ...................... 96.972a Low ...................... 96.891 Average ................ 96.905 Equivalent rate of discount approx. 5.370% per annum Equivalent rate of discount approx. 5.513% per annum Equivalent rate of discount approx. 5.489% per annum1 a E xcepting three tenders totaling $600,000. i This is on a bank discount basis. The equivalent coupon issue yield is 5.73 percent. (3 percent of the amount bid for at the low price was accepted.) Federal Reserve District Boston .......................................... New Y o r k .................................... P h iladelph ia................................ Cleveland .................................... Richmond .............................. Atlanta ........................................ Chicago ........................................ St. L o u is ........................ .............. Minneapolis ................................ Kansas C i t y ................................ Dallas .......................................... San Francisco ............................ T o t a l ................................................ Total applied for Total accepted ........... ........... ........... ........... ........... $ 205,780,000 1,790,424,000 295,397,000 183,305,000 78,860,000 $ 155,780,000 443,624,000 217,397,000 109,735,000 42,860,000 116,978,000 317,980,000 117,583,000 192,175,000 93,340,000 47,660,000 145,291,000 ........... $4,370,993,000 $2,000,403,000 A lfred H ayes, President.
@FedFRASER