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FEDERAL RESERVE BANK OF N EW YORK Fiscal Agent of the United States r Circular No. 6 2 6 5 1 L December 24, 1968 J Results of Treasury’s 9-Month and 12-Month Bill Offerings To All Incorporated BanTcs 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. December 23: The Treasury Department announced that the tenders for two series of Treasury bills, one series to be an additional issue of the bills dated September 30, 1968, and the other series to be dated December 31, 1968, which were offered on December 16, 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 follow s: Range of Accepted Competitive Bids 273-Day Treasury Bills Maturing September 30,1969 High ........................................ Low .......................................... Average .................................. 365-Day Treasury Bills Maturing December 31,1969 Price Approx. equiv. annual rate Price 95.147 95.059 95.084 6.400% 6.516% 6.483%* 93.531 93.425 93.499 Approx. equiv. annual rate 6.380% 6.485% 6.412%* 1 These rates are on a bank discount basis. The equivalent coupon issue yields are 6.84 percent fo r the 273-day bills, and 6.84 percent fo r the 365-day bills. (42 percent of the amount of 273-day bills bid for at the low price was accepted.) (58 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 September 30,1969 Applied Distrii, t P h iladelph ia.............. Cleveland .................. Richmond .................. Atlanta ...................... Chicago ...................... St. L o u is .................... Minneapolis .............. Kansas C i t y .............. Dallas ........................ San Francisco .......... T o tal ........................ for 365-Day Treasury Bills Maturing December 31,1969 Applied for Accepted .... $ 229,000 .... 1,054,857,000 6,212,000 1,291,000 1,280,000 6,163,000 67,075,000 7,634,000 374,000 829.000 11,198,000 96,898,000 $ 229,000 393,417,000 1,212,000 1,291,000 1,280,000 2,663,000 23,075,000 5,634,000 374,000 829,000 3,198,000 66,898,000 . . . . $1,254,040,000 $500,100,000a $ Accepted 15,275,000 1,437,307,000 12,526,000 18,709,000 3,884,000 8,074,000 159,299,000 17,717,000 5,776,000 4,572,000 12,350,000 100,736,000 $ $1,796,225,000 5,275,000 762,467.000 2,526,000 13,463,000 3,884,000 4,074,000 124,299,000 14,717,000 5,776,000 4,572,000 5,350,000 53,636,000 $1,000,039,000b a Includes $18,841,000 noncom petitive tenders accepted at the average price o f 95.084. b Includes $56,303,000 noncom petitive tenders accepted at the average price o f 93.499. A lfred H ayes, President.
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